Free newsletter
Home
Top Funds
Top Themes
Index Fund Center
Target-date Funds
News
Newsletter
Articles
Advisors
Fund Companies

Welcome to MutualFunds.com. Please help us personalize your experience.

Select the one that best describes you

Your personalized experience is almost ready.

Join other Individual Investors receiving FREE personalized market updates and research. Join other Institutional Investors receiving FREE personalized market updates and research. Join other Financial Advisors receiving FREE personalized market updates and research.

Thank you!

Check your email and confirm your subscription to complete your personalized experience.

Thank you for your submission, we hope you enjoy your experience

VMLUX Vanguard Ltd-Term Tx-Ex Adm

  • Fund
  • VMLUX
  • Price as of: May 14, 2019
  • $10.99 - $0.00 - 0.00%
  • Category
  • National Munis
Profile Performance Holdings Expenses Distributions Managers Read Next

VMLUX - Profile

Vitals

  • YTD Return 1.2%
  • 3 Yr Annualized Return -0.3%
  • 5 Yr Annualized Return -0.2%
  • Net Assets $27.6 B
  • Holdings in Top 10 6.4%

52 WEEK LOW AND HIGH

$10.99
$10.76
$10.99

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.09%

SALES FEES

  • Front Load N/A
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 28.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

STANDARD (TAXABLE)

$50,000

IRA

$50,000

Investment Themes

CATEGORY

National Munis
  • Fund Type Open End Mutual Fund
  • Investment Style Muni National Short

Distributions

  • YTD Total Return 1.2%
  • 3 Yr Annualized Total Return -0.3%
  • 5 Yr Annualized Total Return -0.2%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 1.84%
DIVIDENDS
  • Dividend Yield 0.5%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name Vanguard Limited Term Tax Exempt Fund
  • Fund Family Name Vanguard
  • Inception Date Feb 12, 2001
  • Shares Outstanding N/A
  • Share Class Inst
  • Currency USD
  • Domiciled Country United States
  • Manager Adam M. Ferguson

Fund Description

The Vanguard Limited-Term Tax-Exempt Fund Admiral Shares (VMLUX) seeks to provide a high level of income that is exempt from Federal taxes while limiting price fluctuations. The fund does this by betting on short-term municipal bonds. These bonds have maturities between two and six years. VMLUX enhances its yield and income potential by using rigorous credit analysis to find bonds trading at discounts to their real valuation.

Given its focus on tax-exempt income, investors in higher tax brackets may want to use VMLUX as a core piece of their fixed-income portfolio. The fund is managed by Vanguard’s Fixed Income Group.

VMLUX - Performance

Return Ranking - Trailing

Period VMLUX Return Category Return Low Category Return High Rank in Category (%)
YTD 1.2% -3.2% 4.3% 79.25%
1 Yr 1.7% -3.1% 5.2% 67.00%
3 Yr -0.3%* -3.1% 1.8% 37.27%
5 Yr -0.2%* -2.2% 2.0% 56.64%
10 Yr 0.1%* -8.8% 2.8% 83.44%

* Annualized

Return Ranking - Calendar

Period VMLUX Return Category Return Low Category Return High Rank in Category (%)
2018 -0.3% -4.8% 0.8% 16.27%
2017 0.5% -0.9% 5.6% 79.72%
2016 -1.6% -6.1% 7.3% 22.61%
2015 -0.2% -10.9% 2.6% 43.99%
2014 0.2% -60.4% 12.0% 86.97%

Total Return Ranking - Trailing

Period VMLUX Return Category Return Low Category Return High Rank in Category (%)
YTD 1.2% -3.2% 4.8% 79.25%
1 Yr 1.7% -3.1% 7.2% 69.17%
3 Yr -0.3%* -3.0% 3.1% 46.64%
5 Yr -0.2%* -1.9% 3.8% 64.94%
10 Yr 0.1%* -8.8% 4.8% 88.34%

* Annualized

Total Return Ranking - Calendar

Period VMLUX Return Category Return Low Category Return High Rank in Category (%)
2018 -0.3% -4.8% 1.7% 23.02%
2017 0.5% -0.9% 6.2% 82.33%
2016 -1.6% -6.1% 7.3% 30.35%
2015 -0.2% -9.6% 3.9% 51.93%
2014 0.2% -60.4% 12.0% 89.50%

NAV & Total Return History

VMLUX - Holdings

Concentration Analysis

VMLUX Category Low Category High VMLUX % Rank
Net Assets 27.6 B 770 K 66.2 B 0.79%
Number of Holdings 5222 3 8426 0.79%
Net Assets in Top 10 1.76 B -122 M 1.81 B 0.79%
Weighting of Top 10 6.40% 2.5% 100.0% 92.67%

Top 10 Holdings

  1. Cmt Municipal Rate 1.52%
  2. TEXAS ST 4% 1.31%
  3. GRAND PKWY TRANSN CORP TEX 5% 0.71%
  4. MAIN STR NAT GAS INC GA GAS SUPPLY REV 4% 0.46%
  5. NEW MEXICO FIN AUTH ST TRANSN REV 5% 0.45%
  6. KENTUCKY INC KY PUB ENERGY AUTH GAS SUPLLY REV 4% 0.45%
  7. TEXAS ST 1.54% 0.43%
  8. NUVEEN INSD TAX-FREE ADVANTAGE MUN FD 1.63% 0.37%
  9. MAIN STR NAT GAS INC GA GAS SUPPLY REV 2.5% 0.36%
  10. KENTUCKY INC KY PUB ENERGY AUTH GAS SUPLLY REV 4% 0.33%

Asset Allocation

Weighting Return Low Return High VMLUX % Rank
Bonds 		97.40% 66.80% 103.87% 56.83%
Cash 		2.60% -2.12% 31.82% 42.38%
Stocks 		0.00% 0.00% 0.01% 97.03%
Preferred Stocks 		0.00% 0.00% 9.32% 97.03%
Other 		0.00% -3.88% 30.00% 94.65%
Convertible Bonds 		0.00% 0.00% 2.58% 97.03%

Bond Sector Breakdown

Weighting Return Low Return High VMLUX % Rank
Municipal 		95.58% 0.00% 112.93% 72.87%
Cash & Equivalents 		2.90% -7.72% 31.82% 38.02%
Derivative 		0.00% 0.00% 0.01% 97.03%
Securitized 		0.00% 0.00% 25.65% 97.03%
Corporate 		0.00% 0.00% 39.31% 97.23%
Government 		0.00% -13.64% 71.35% 90.69%

Bond Geographic Breakdown

Weighting Return Low Return High VMLUX % Rank
US 		96.96% 53.15% 103.17% 54.46%
Non US 		0.44% 0.00% 25.08% 38.61%

VMLUX - Expenses

Operational Fees

VMLUX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.09% 0.08% 4.80% 99.21%
Management Fee 0.08% 0.00% 0.65% 2.17%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.01% 0.34% N/A

Sales Fees

VMLUX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.50% 5.75% N/A
Deferred Load N/A 0.50% 5.50% N/A

Trading Fees

VMLUX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.25% 2.00% N/A

Turnover Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

VMLUX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 28.00% 0.00% 504.54% 48.81%

VMLUX - Distributions

Dividend Yield Analysis

VMLUX Category Low Category High VMLUX % Rank
Dividend Yield 0.48% 0.00% 0.94% 11.26%

Dividend Distribution Analysis

VMLUX Category Low Category High Category Mode
Dividend Distribution Frequency Monthly Monthly Monthly Monthly

Dividend Payout History

View More History

Net Income Ratio Analysis

VMLUX Category Low Category High VMLUX % Rank
Net Income Ratio 1.84% 0.01% 4.95% 68.58%

Capital Gain Distribution Analysis

VMLUX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually Annually

VMLUX - Managers

Adam M. Ferguson

Manager

Start Date

Tenure

Tenure Rank

May 10, 2017

1.97

2.0%

Adam M. Ferguson, CFA, Portfolio Manager. He has been with Vanguard since 2004; has worked in investment management since 2008. Education: B.S., Wilmington University.

Tenure Analysis

Category Low

0.0

Category High

39.6

Category Average

7.67

Category Mode

4.15

Help & Info
Free Newsletters
Explore MutualFunds.com
Education
Legal

Advertise With Us

© 2019 Mitre Media

X