Vanguard Ultra-Short-Term Tax-Exempt Fund Investor Shares

Frequently Asked Questions About VWSTX

What are the top holdings of VWSTX?

A machine-readable holdings disclosure for Vanguard Ultra-Short-Term Tax-Exempt Fund Investor Shares (VWSTX) 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 VWSTX invest in?

Vanguard Ultra-Short-Term Tax-Exempt Fund Investor Shares (VWSTX) allocates across the sectors shown above. The largest exposure tops the list; the rest follow in descending weight order.

What sector is VWSTX most exposed to?

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

Is VWSTX a US-only fund?

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

The primary objective of this fund is to generate ongoing income that is exempt from federal personal income taxes, while striving for limited fluctuations in its share price. A substantial portion, specifically at least 75%, of the fund's holdings consists of high-quality municipal bonds. These are defined as securities within the top three credit-rating tiers from nationally recognized statistical rating organizations, or those deemed of comparable quality by the advisor if unrated. Up to 20% of the portfolio may be allocated to medium-grade quality bonds, as determined by either a rating agency or the advisor. The final 5% can be invested in securities with lower credit ratings or those assessed by the advisor as having similar quality, even without a formal rating. This fund offers the potential for a higher yield than a typical money market fund, primarily because it invests in longer-maturity securities. However, this increased yield potential is accompanied by a correspondingly greater level of risk. Changes in interest rates can affect the fund: declining rates may lead to reduced income for its short-term bond holdings, while rising rates could exert downward pressure on the fund's share price. This offering may appeal to investors who desire a modest, federally tax-exempt income stream and are comfortable with some degree of income and share price volatility.