Vanguard Massachusetts Tax-Exempt Fund

Frequently Asked Questions About VMATX

What are the top holdings of VMATX?

A machine-readable holdings disclosure for Vanguard Massachusetts Tax-Exempt Fund (VMATX) 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 VMATX invest in?

Vanguard Massachusetts Tax-Exempt Fund (VMATX) allocates across the sectors shown above. The largest exposure tops the list; the rest follow in descending weight order.

What sector is VMATX most exposed to?

VMATX's full sector breakdown is on the Sectors tab. The largest sector weight is shown there along with the rest of the allocation.

Is VMATX a US-only fund?

The country allocation card on this page shows VMATX'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 VMATX invest in?

The primary aim of this fund is to generate a substantial amount of current income, free from both federal and Massachusetts personal income taxes. Exclusively available to Massachusetts residents, it principally allocates its investments to high-quality municipal bonds issued by state and local governments within Massachusetts, along with regional and public financing authorities. Under normal operating conditions, a minimum of 80% of the fund's holdings will consist of securities that provide income exempt from federal and Massachusetts state taxes. Although there are no specific limitations on the maturities of individual bonds, the portfolio's dollar-weighted average maturity typically ranges from 10 to 25 years. With an average duration of roughly 6 to 10 years, its net asset value is considerably more responsive to changes in interest rates compared to bond funds with shorter durations. This makes it a suitable option for Massachusetts-based investors who desire income free from federal and state taxes and are comfortable assuming the associated interest rate risk.