- What are the top holdings of VCRM?
- A machine-readable holdings disclosure for Vanguard Core Tax-Exempt Bond E (VCRM) is not available from our data sources — fund families sometimes register portfolio filings under a sibling share class or outside the SEC's structured datasets. Rather than estimate, we leave the section blank; the issuer's website carries the authoritative portfolio list.
- What sectors does VCRM invest in?
- Vanguard Core Tax-Exempt Bond E (VCRM) allocates across the sectors shown above. The largest exposure tops the list; the rest follow in descending weight order.
- What sector is VCRM most exposed to?
- VCRM's full sector breakdown is on the Sectors tab. The largest sector weight is shown there along with the rest of the allocation.
- Is VCRM a US-only fund?
- The country allocation card on this page shows VCRM's geographic exposure. Funds with > 95% US weight are effectively US-only; international or global funds will show meaningful weights across multiple countries.
- What does VCRM invest in?
- The Vanguard Core Tax-Exempt Bond ETF (VCRM) is an actively managed fund designed to achieve comprehensive returns through a combination of tax-free income and capital appreciation. This ETF primarily invests in municipal bonds, denominated in U.S. dollars, which are issued by state and local government entities across the United States. A key feature is that the interest income generated by these bonds is exempt from both federal income taxes and the Alternative Minimum Tax (AMT). While there are no specific maturity limits for individual bond holdings, the fund generally aims to maintain a dollar-weighted average maturity for its portfolio within an 8-to-20-year range. The majority of its holdings are dedicated to investment-grade municipal debt, specifically those rated A3 or higher by Moody's or a comparable rating service. The fund's exposure to speculative-grade, or "junk" bonds, is strictly capped at 20% of its total assets. Management of the fund is discretionary, guided by portfolio managers who integrate both macro-economic (top-down) insights and specific security (bottom-up) analyses. A core mandate ensures that, under typical market circumstances, a minimum of 80% of the portfolio's net assets remains invested in tax-exempt municipal obligations.
