Objective
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Investment approach
Performance snapshot
Quarter-end total returnsas of06/30/2025
Note: Returns are unadjusted for transaction fees where applicable.
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.
Share classesas of
At a glance
Objective
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Investment approach
Process & Management
Process
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| Quarter-end | Year-to-date | 1 year | 3 year | 5 year | 10 year | Since inception[2] | ||
|---|---|---|---|---|---|---|---|---|
 | VUSUX(NAV) | -1.47% | 3.21% | 1.55% | -3.73% | -8.11% | 0.20% | 4.09% |
 | Benchmark[1] | -1.53% | 3.08% | 1.56% | -3.69% | -8.22% | 0.14% | 4.11% |
| +/- Benchmark[4] | 0.06% | 0.13% | -0.01% | -0.04% | 0.11% | 0.06% | -0.02% |
Note: Returns are unadjusted for transaction fees where applicable.
Quarterly & Annual returns
Expense ratio0.10%
Cumulative returnsas of06/30/2025
Expense ratio0.10%
| 1 month | 3 month | 1 year | 3 year | 5 year | 10 year | Since inception[2] | |
|---|---|---|---|---|---|---|---|
| VUSUX(NAV) | 2.58% | -1.47% | 1.55% | -10.78% | -34.49% | 2.03% | 165.63% |
| Benchmark | 2.50% | -1.53% | 1.56% | -10.68% | -34.87% | 1.40% | 167.08% |
Quarterly commentary
Risk and volatilityas of05/31/2025
Relative risk measures |
| 3 year | 5 year | 10 year | ||
|---|---|---|---|---|
| Alpha[3] | ||||
| Primary benchmark*[1] | 0.00% | 0.02% | 0.01% | |
| Broad-based benchmark[2][2] | -0.23% | -0.28% | -0.06% | |
| Beta[4] | ||||
| Primary benchmark*[1] | 1.00 | 1.01 | 1.01 | |
| Broad-based benchmark[2] | 2.04 | 2.10 | 2.32 | |
| R-squared[5] | ||||
| Primary benchmark*[1] | 1.00 | 1.00 | 1.00 | |
| Broad-based benchmark[1] | 0.94 | 0.89 | 0.81 | |
| Information ratio[6] | ||||
| Primary benchmark*[1] | -0.11 | 0.22 | 0.09 | |
| Broad-based benchmark[1] | -0.77 | -0.91 | -0.22 | |
Risk and return statistics |
| 3 year | 5 year | 10 year | ||
|---|---|---|---|---|
| Standard deviation | ||||
| VUSUX | 15.45% | 14.11% | 12.97% | |
| Primary benchmark* | 15.38% | 14.02% | 12.85% | |
| Broad-based benchmark | 7.33% | 6.34% | 5.03% | |
| Sharpe ratio | ||||
| VUSUX | -0.63 | -0.80 | -0.19 | |
| Primary benchmark* | -0.62 | -0.82 | -0.19 | |
| Broad-based benchmark | -0.43 | -0.59 | -0.10 | |
| Sortino ratio | ||||
| VUSUX | -0.73 | -0.93 | -0.17 | |
| Primary benchmark* | -0.73 | -0.95 | -0.18 | |
| Broad-based benchmark | -0.51 | -0.70 | -0.10 | |
Risk measures are calculated from trailing 3, 5, and 10 year fund returns relative to the associated benchmarks.
Closing priceas of07/11/2025
Price analysis
Price history
Inception date: 02/12/2001
Get up to 24 months of prices for this fund. You can also export all prices of this fund since the inception date.
The performance data shown represents past performance, which is not a guarantee of future results. Investment returns and principal value will fluctuate, so that 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.
Performance data for periods of less than one year does not reflect the deduction of purchase and redemption fees. Maintenance, low balance, and service fees may be assessed by some funds. None of these fees are reflected in the performance figures. If these fees were included, the performance would be lower. All other performance data are adjusted for purchase and redemption fees, where applicable. See Fees & Costs below for expense ratio and additional fee details.
The performance of an index is not an exact representation of any particular investment, as you cannot invest directly in an index. Benchmark comparative indexes represent unmanaged or average returns on various financial assets, which can be compared with funds' total returns for the purpose of measuring relative performance.
Source: FactSet financial data and analytics.
Shareholder feesFees paid directly from your investment | |
| Sales charge (load) imposed on purchases | None |
| Purchase fee | None |
| Redemption fee | None |
Annual fund operating expensesExpenses that you pay each year as a percentage of the value of your investment. | |
| Expense ratio | 0.10% |
| 12b-1 distribution fee | None |
Characteristicsas of05/31/2025
| VUSUX | Benchmark | |
|---|---|---|
| Number of bonds | 132 | 92 |
| Yield to Maturity | 5.03% | 4.95% |
| Short-term reserves | — | N/A |
| VUSUX | Benchmark | |
| Average duration | 14.1 (years) | 14.7 (years) |
| Average effective maturity | 20.8 (years) | 22.1 (years) |
| Average coupon | 3.04% | 3.32% |
Style box
Composition
Distribution by credit quality* (% of fund)as of05/31/2025
*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 internal money market funds, derivatives, and futures. 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 either obtained from Bloomberg using ratings derived from Moody’s Investors Service (Moody’s), Fitch Ratings (Fitch), and Standard & Poor’s (S&P), or directly from Moody’s and S&P. Credit-quality ratings obtained from Bloomberg use the following methodologies: When ratings from all three agencies are available, the median rating is used; when ratings from only two of the agencies are available, the lower rating is used; and when one rating is available, that rating is used. Credit-quality ratings obtained directly from Moody’s and S&P use the higher rating for each issue.
Distribution by issuer type (% of fund)as of05/31/2025
Distribution by Effective Maturity (% of fund)as of05/31/2025
[1]Distribution by effective maturity (taxable bond funds and balanced funds except Tax-Managed Balanced) represents the percentage of fund assets in each maturity category. Effective Maturity methodology is used to determine the maturity category each holding is allocated to. Effective Maturity is defined as the length of time until a fixed income security held by a fund reaches maturity and is repaid, taking into consideration that an action such as a call or refunding may cause some bonds to be repaid before they mature.b>Distribution by stated maturity (municipal bond funds and Tax-Managed Balanced) represents the percentage of fund assets in each maturity category. Stated Maturity methodology is used to determine the maturity category each holding is allocated to. Stated Maturity is defined as the stated maturity date for each fixed income security held by the fund.
The composition of the portfolio's primary asset class. (i.e., for a bond fund, weighted exposures show the composition of the fund's bond allocation and will exclude other asset classes such as the short-term reserves).
Distributions
View up to 10 years of distributions for this fund.
Distribution schedule:Daily - Calendar Days | Fiscal year-end date:01/31/2025
The performance data shown represents past performance, which is not a guarantee of future results. Investment returns and principal value will fluctuate, so that 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. See performance data current to the most recent month end.
