Long-Term Treasury Index Fund Institutional Shares (VLGIX)

OPTIONS as of
12/21/2018

Options Expense ratio Minimum
Admiral 0.07% N/A
Inst 0.05% $5.0 Million
ETF 0.07%

Vanguard ETF Shares can be bought and sold only through a broker (who may charge a commission) and cannot be redeemed with the issuing fund. The market price of Vanguard ETF Shares may be more or less than net asset value.

About our options  


 

Fees

A fee charged by some mutual funds when an investor buys shares. This fee is not a sales charge or load because it is paid directly to the fund to offset the costs of trading certain securities.

 None

A fee charged by some mutual funds when an investor sells shares. A redemption fee differs from a back-end load because the money is paid back into the fund. Many funds charge redemption fees only when shares are bought and then sold within a specific period of time, generally in an effort to discourage market-timing and short-term trading. Some brokers also charge their clients redemption fees for the sale of securities.

 None

KEY FACTS

Product type: Long Government
VLGIX
 inception on 07/30/2010
Earliest share class inception on 11/19/2009
$2.0 billion

This represents the total net assets for all share classes of Vanguard's U.S. funds, as well as any collective trust that shares the same investment strategy, management and holdings.

 as of 12/31/2018
$497.8 million net assets for
VLGIX
 as of 12/31/2018
50 holdings as of 12/31/2018
Indexed to the BloomBarc US Long Treasury Index (BGFLTRUU)
Turnover rate (Fiscal year-end  08/31/2018) 18.60%
CUSIP: 92206C839

STYLEBOX

Bond
Portfolio of long-term U.S. Treasury bonds.



Central tendency
Expected range

How to read our stylebox  

Investment approach



  • Seeks to track the performance of the Bloomberg Barclays US Long Treasury Bond Index.
  • Diversified exposure to the long-term U.S. Treasury market.
  • Follows a passively managed, index-sampling approach.
  • Provides current income with high credit quality.

Total returns

as of 12/31/2018

View as:

as of 12/31/2018

6%
4
2
0
-2%
 
 
 
 
  1 year 3 year 5 year 10 year

07/30/2010

NAV 
– 1.63% 2.72% 5.99% 5.01%

Spliced Bloomberg Barclays U.S. Long Treasury Index in USD

*
– 1.84% 2.62% 5.90%

Note: Fee adjusted for mutual funds where applicable.

* Bloomberg Barclays U.S. Long Government Float Adjusted Index through December 11, 2017; Bloomberg Barclays U.S. Long Treasury Bond Index thereafter.

The performance data shown represent past performance, which is not a guarantee of future results. Investment returns and principal value will fluctuate, so investors' shares, when sold, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data cited.


Distribution by credit quality(% of fund) as of 12/31/2018

  Credit rating  VLGIX
U.S. Government 100.0%
Aaa 0.0%
Aa 0.0%
A 0.0%
Baa 0.0%
< Baa 0.0%
0%
100%
Total 100.0%
* Credit-quality ratings are measured on a scale that generally ranges from AAA (highest) to D (lowest). ”NR” is used to classify securities for which a rating is not available. NR securities may include a fund’s investment in Vanguard Market Liquidity Fund or Vanguard Municipal Cash Management Fund, each of which invests in high-quality money market instruments and may serve as a cash management vehicle for the Vanguard funds, trusts, and accounts. U.S. Treasury, U.S. Agency, and U.S. Agency mortgage-backed securities appear under ”U.S. Government.” Credit-quality ratings for each issue are obtained from Barclays using ratings derived from Moody’s Investors Service (Moody’s), Fitch Ratings (Fitch), and Standard & Poor’s (S&P). When ratings from all three agencies are available, the median rating is used. When ratings are available from two of the agencies, the lower rating is used. When one rating is available, that rating is used.

Fundamentals

Bond
as of 12/31/2018
VLGIX

Bloomberg Barclays U.S. Long Treasury Bond Index

Number of bonds 50 49
Yield to maturity 2.99% 2.99%
Short-term reserves 0.72% N/A
Average duration 17.4 (years) 17.4 (years)

Average effective maturity (taxable bond funds and balanced funds except Tax-Managed Balanced)
Average Effective Maturity is defined as the average length of time until fixed income securities held by a fund reach maturity and are repaid, taking into consideration that an action such as a call or refunding may cause some bonds to be repaid before they mature.

Average stated maturity (municipal bond funds and Tax-Managed Balanced)
Average stated maturity represents the average of the stated maturity dates for all fixed income securities held by the fund.

Average maturity (money market funds only)
Average maturity represents the weighted average maturity of the fund's holdings using the date of the next interest rate adjustment for certain adjustable-rate securities held by the fund.

25.1 (years) 25.1 (years)
Average coupon 3.27% 3.28%

Risk and volatility as of 12/31/2018

  VLGIX

Spliced Bloomberg Barclays U.S. Long Treasury Index in USD

R-squared N/A 0.99
Beta N/A 1.01
Alpha 0.01 N/A
Standard deviation 9.75% 9.69%
Sharpe ratio 0.18 0.16

Risk and volatility are based on the share class with the earliest inception date.

Risk measures are calculated from trailing 36-month fund returns relative to the associated benchmarks.

An investment in the fund could lose money over short or long periods of time. You should expect the fund’s share price and total return to fluctuate within a wide range. The fund is subject to the following risks, which could affect the fund’s performance:

  • Interest rate risk: The chance that bond prices will decline because of rising interest rates. Interest rate risk should be high for the fund because it invests primarily in long-term bonds, whose prices are more sensitive to interest rate changes than are the prices of shorter term bonds.
  • Income risk: The chance that the fund’s income will decline because of falling interest rates.
  • Index sampling risk: The chance that the securities selected for the fund, in the aggregate, will not provide investment performance matching that of the index. Index sampling risk for the fund should be low.