Vanguard New Jersey Long-Term Tax-Exempt Fund Investor Shares

Frequently Asked Questions About VNJTX

What does VNJTX invest in?

This fund is designed to generate current income free from both federal and New Jersey personal income taxes. Intended solely for New Jersey residents, it predominantly invests in premium municipal bonds issued by New Jersey's state and local governments, alongside regional government and public financing authorities. Ordinarily, at least 80% of the fund's holdings will be in securities providing income exempt from federal and New Jersey state taxation. While individual bond maturities have no set limits, the fund's average dollar-weighted maturity is projected to range from 10 to 25 years. With an average duration of approximately 6 to 10 years, its share price is notably more sensitive to shifts in interest rates than funds holding shorter-term bonds. This fund may be suitable for New Jersey investors seeking federal and state tax-exempt interest income who are comfortable with the inherent interest rate risk.

What is the expense ratio of VNJTX?

Vanguard New Jersey Long-Term Tax-Exempt Fund Investor Shares (VNJTX) charges an expense ratio of 0.14%. This is the annual fee deducted from fund assets to cover management and operations.

What is VNJTX's dividend yield?

VNJTX's trailing-twelve-month yield is 3.78%, calculated from the sum of dividends over the past year divided by the current price.

What is the duration of VNJTX?

Effective duration measures VNJTX's sensitivity to interest-rate changes: a duration of 6 means a 1% rate move shifts NAV by roughly 6% in the opposite direction. VNJTX's current duration is published on the fund's factsheet on the issuer's website.

What is the credit quality of VNJTX?

VNJTX's credit quality breakdown (the share of holdings rated AAA through CCC and below) is published on the fund's factsheet. Higher-quality (investment-grade) funds yield less but carry less default risk than high-yield / junk bond funds.

What is the yield to maturity of VNJTX?

Yield to maturity (YTM) is the total return you'd earn from VNJTX if every bond in the portfolio is held to maturity at the current price. VNJTX's YTM is published on the fund's factsheet on the issuer's website. It differs from the trailing-12-month yield because YTM reflects current bond prices rather than historical income paid.