- What does VWITX invest in?
- This fund aims to deliver a steady and moderate stream of current income, free from federal personal income taxes. Although it has no constraints on the maturity of individual securities, the portfolio's dollar-weighted average maturity is anticipated to fall within a 6-to-12-year range. A significant portion of its assets—at least 75%—consists of municipal bonds rated within the top three credit categories by an official rating organization, or considered to be of comparable quality by the advisor. Up to 20% of the fund's holdings may be in medium-grade bonds, as determined by a rating agency or the advisor, with the remaining 5% potentially invested in lower-rated or similarly qualified securities. A primary risk involves interest rate fluctuations, which can negatively impact bond values or lead to reduced income for the fund. This offering is well-suited for investors seeking federal tax-exempt interest income who are comfortable with moderate variations in both price and income. It is crucial to understand that this Vanguard fund is a standalone product, distinct from the Vanguard Intermediate-Term Tax-Exempt Bond ETF (VTEI), and differences in scale, investment processes, and underlying assets are expected to result in varied investment returns between the two.
- What is the expense ratio of VWITX?
- Vanguard Intermediate-Term Tax-Exempt Fund Investor Shares (VWITX) charges an expense ratio of 0.17%. This is the annual fee deducted from fund assets to cover management and operations.
- What is VWITX's dividend yield?
- VWITX's trailing-twelve-month yield is 3.33%, calculated from the sum of dividends over the past year divided by the current price.
- What is the duration of VWITX?
- Effective duration measures VWITX's sensitivity to interest-rate changes — a duration of 6 means a 1% rate move shifts NAV by roughly 6% in the opposite direction. VWITX's current duration is published on the fund's factsheet on the issuer's website.
- What is the credit quality of VWITX?
- VWITX'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 VWITX?
- Yield to maturity (YTM) is the total return you'd earn from VWITX if every bond in the portfolio is held to maturity at the current price. VWITX'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.
