Vanguard Fixed Income Group
Vanguard Long-Term Treasury Fund seeks a high and sustainable level of current income by investing primarily in long-term U.S. Treasury obligations with an average maturity of 15–30 years. The fund has negligible credit risk, but it has significant exposure to interest-rate risk. A minimum of 80% of assets are invested in Treasury securities, offering investors an investment targeting a specific segment of the U.S. Treasury yield curve. The balance of the fund may invest in high-quality, long-term bonds that provide additional income potential, such as government agency and mortgage-backed securities. The fund’s duration will be adjusted to reflect the advisor’s near-term interest rate outlook, the shape of the yield curve, and other factors.
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