- What does VOHIX invest in?
- This Vanguard fund is designed to generate current income that is exempt from both federal and Ohio state personal income taxes. It is exclusively for residents of Ohio. To achieve this, the fund primarily invests in high-quality municipal bonds issued by various Ohio entities, including state and local governments, regional authorities, and public financing bodies. Under normal market conditions, at least 80% of its assets will be allocated to securities providing these federal and Ohio tax exemptions. While there are no restrictions on the maturities of individual bonds it holds, the fund's portfolio targets a dollar-weighted average maturity of 10 to 25 years. This low-cost municipal bond fund is particularly appealing to Ohio residents in higher tax brackets seeking both federal and state tax-exempt income. With an average duration of approximately 6-10 years, the fund's share price is considerably more sensitive to fluctuations in interest rates compared to funds holding shorter-term bonds. Therefore, it is best suited for investors who prioritize tax-free income at both federal and Ohio levels and are comfortable with the inherent interest rate risk associated with long-term bonds.
- What is the expense ratio of VOHIX?
- Vanguard Ohio Long-Term Tax-Exempt Fund (VOHIX) charges an expense ratio of 0.09%. This is the annual fee deducted from fund assets to cover management and operations.
- What is VOHIX's dividend yield?
- VOHIX'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 VOHIX?
- Effective duration measures VOHIX's sensitivity to interest-rate changes — a duration of 6 means a 1% rate move shifts NAV by roughly 6% in the opposite direction. VOHIX's current duration is published on the fund's factsheet on the issuer's website.
- What is the credit quality of VOHIX?
- VOHIX'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 VOHIX?
- Yield to maturity (YTM) is the total return you'd earn from VOHIX if every bond in the portfolio is held to maturity at the current price. VOHIX'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.
