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

VWALX Vanguard High-Yield Tax-Exempt Adm

  • Fund
  • VWALX
  • Price as of: May 28, 2019
  • $11.58 + $0.01 + 0.09%
  • Category
  • National Munis

VWALX - Profile

Vitals

  • YTD Return 3.8%
  • 3 Yr Annualized Return 0.1%
  • 5 Yr Annualized Return 0.8%
  • Net Assets $14.3 B
  • Holdings in Top 10 7.1%

52 WEEK LOW AND HIGH

$11.58
$10.95
$11.58

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.09%

SALES FEES

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

BROKERAGE FEES

  • Turnover 17.00%

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 Long

Distributions

  • YTD Total Return 3.8%
  • 3 Yr Annualized Total Return 0.1%
  • 5 Yr Annualized Total Return 0.8%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 3.80%
DIVIDENDS
  • Dividend Yield 1.4%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name Vanguard High Yield Tax Exempt Fund
  • Fund Family Name Vanguard
  • Inception Date Nov 12, 2001
  • Shares Outstanding N/A
  • Share Class Inst
  • Currency USD
  • Domiciled Country United States
  • Manager Mathew M. Kiselak

Fund Description

The Vanguard High-Yield Tax-Exempt Fund Admiral Shares (VWALX) is a very low-cost, actively managed municipal bond fund that seeks to provide a high level of tax-exempt income. VWALX does this by betting on the high-yield segment of the muni market. These bonds are often tied to special projects or are from states or towns with less-than-stellar credit. The fund uses intensive credit analysis to find bonds that are trading below their real worth.

Given its mandate for high, tax-free (albeit riskier) income, high earners looking to save on taxes could find the fund a great fit in their taxable accounts. The fund is managed by Vanguard Group.

VWALX - Performance

Return Ranking - Trailing

Period VWALX Return Category Return Low Category Return High Rank in Category (%)
YTD 3.8% 0.0% 5.6% 16.30%
1 Yr 2.8% -3.2% 5.4% 33.20%
3 Yr 0.1%* -2.9% 1.5% 10.66%
5 Yr 0.8%* -1.8% 2.3% 13.49%
10 Yr 1.6%* -8.7% 2.4% 8.90%

* Annualized


Return Ranking - Calendar

Period VWALX Return Category Return Low Category Return High Rank in Category (%)
2018 -2.4% -4.8% 0.8% 66.87%
2017 3.9% -0.9% 5.6% 4.04%
2016 -2.7% -6.1% 7.3% 60.45%
2015 0.4% -10.9% 2.6% 13.93%
2014 7.4% -60.4% 12.0% 12.90%

Total Return Ranking - Trailing

Period VWALX Return Category Return Low Category Return High Rank in Category (%)
YTD 3.8% 0.0% 5.6% 18.09%
1 Yr 2.8% -2.9% 6.9% 36.98%
3 Yr 0.1%* -2.9% 3.2% 19.88%
5 Yr 0.8%* -1.8% 3.7% 22.41%
10 Yr 1.6%* -8.7% 5.0% 17.79%

* Annualized


Total Return Ranking - Calendar

Period VWALX Return Category Return Low Category Return High Rank in Category (%)
2018 -2.4% -4.8% 1.7% 69.66%
2017 3.9% -0.9% 6.2% 6.46%
2016 -2.7% -6.1% 7.3% 66.60%
2015 0.4% -9.6% 3.9% 21.52%
2014 7.4% -60.4% 12.0% 14.59%

NAV & Total Return History

VWALX - Holdings

Concentration Analysis

VWALX Category Low Category High VWALX % Rank
Net Assets 14.3 B 770 K 66.2 B 1.79%
Number of Holdings 2293 3 8426 1.79%
Net Assets in Top 10 996 M -122 M 2.02 B 2.59%
Weighting of Top 10 7.12% 2.5% 100.0% 86.45%

Top 10 Holdings

  1. Cmt Municipal Rate 4.53%

  2. VIRGINIA SMALL BUSINESS FING AUTH PRIVATE ACTIVITY REV 5% 0.40%

  3. CHICAGO ILL BRD ED 7% 0.31%

  4. JEFFERSON CNTY ALA SWR REV 7% 0.30%

  5. NORTH TEX TWY AUTH REV 5% 0.29%

  6. NEW YORK TRANSN DEV CORP SPL FAC REV 5% 0.29%

  7. WESTMORELAND CNTY PA INDL DEV AUTH HEALTH SYS REV 4.72% 0.26%

  8. TEXAS TRANSN COMMN CENT TEX TPK SYS REV 5% 0.25%

  9. PENNSYLVANIA ST TPK COMMN TPK REV 5% 0.25%

  10. DENVER COLO CITY & CNTY ARPT REV 5% 0.25%


Asset Allocation

Weighting Return Low Return High VWALX % Rank
Bonds
100.00% 17.56% 101.83% 4.78%
Stocks
0.00% 0.00% 0.01% 1.39%
Preferred Stocks
0.00% 0.00% 9.32% 1.00%
Other
0.00% -1.53% 30.00% 9.76%
Convertible Bonds
0.00% 0.00% 2.58% 1.79%
Cash
0.00% -1.83% 82.44% 89.24%

Bond Sector Breakdown

Weighting Return Low Return High VWALX % Rank
Municipal
95.47% 0.00% 112.93% 71.51%
Derivative
0.00% 0.00% 0.01% 1.20%
Cash & Equivalents
0.00% -4.96% 82.44% 87.05%
Securitized
0.00% 0.00% 25.65% 4.18%
Corporate
0.00% 0.00% 34.88% 17.33%
Government
0.00% -13.64% 71.35% 6.97%

Bond Geographic Breakdown

Weighting Return Low Return High VWALX % Rank
US
99.24% 17.56% 101.37% 18.73%
Non US
0.76% 0.00% 23.81% 29.88%

VWALX - Expenses

Operational Fees

VWALX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.09% 0.09% 4.80% 99.20%
Management Fee 0.08% 0.00% 0.65% 1.79%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.01% 0.34% N/A

Sales Fees

VWALX 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

VWALX 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.

VWALX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 17.00% 0.00% 504.54% 22.66%

VWALX - Distributions

Dividend Yield Analysis

VWALX Category Low Category High VWALX % Rank
Dividend Yield 1.38% 0.00% 2.44% 5.77%

Dividend Distribution Analysis

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

Dividend Payout History