Objective
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Investment approach
Performance snapshot
Quarter-end total returnsas of06/30/2025
Note: Except the most recent quarter, the expense ratios presented are the funds' actual operating expenses and they exclude any acquired fees and expenses, which result from the funds' holding in business development companies (BDCs). BDCs expenses are not direct costs paid by fund shareholders and are not used to calculate the funds' net asset value.
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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Quarterly & Annual returns
Expense ratio0.03%
Cumulative returnsas of06/30/2025
Expense ratio0.03%
| 1 month | 3 month | 1 year | 3 year | 5 year | 10 year | Since inception[2] | |
|---|---|---|---|---|---|---|---|
| ***BND(Market price) | 1.52% | 1.23% | 6.09% | 8.01% | -3.82% | 19.19% | 72.87% |
| BND(NAV) | 1.52% | 1.22% | 6.05% | 8.04% | -3.62% | 19.11% | 72.97% |
| Benchmark | 1.51% | 1.22% | 6.07% | 8.04% | -3.49% | 19.52% | 74.62% |
Quarterly commentary
Risk and volatilityas of05/31/2025
Relative risk measures |
| 3 year | 5 year | 10 year | ||
|---|---|---|---|---|
| Alpha[3] | ||||
| Primary benchmark*[1] | 0.00% | 0.00% | 0.00% | |
| Broad-based benchmark[2][2] | 0.00% | 0.00% | 0.00% | |
| Beta[4] | ||||
| Primary benchmark*[1] | 1.00 | 1.00 | 1.00 | |
| Broad-based benchmark[2] | 1.00 | 1.00 | 1.00 | |
| R-squared[5] | ||||
| Primary benchmark*[1] | 1.00 | 1.00 | 1.00 | |
| Broad-based benchmark[1] | 1.00 | 1.00 | 1.00 | |
| Information ratio[6] | ||||
| Primary benchmark*[1] | -0.03 | -0.10 | -0.15 | |
| Broad-based benchmark[1] | -0.03 | -0.10 | -0.15 | |
Risk and return statistics |
| 3 year | 5 year | 10 year | ||
|---|---|---|---|---|
| Standard deviation | ||||
| BND | 7.23% | 6.31% | 5.05% | |
| Primary benchmark* | 7.20% | 6.28% | 5.02% | |
| Broad-based benchmark | 7.20% | 6.28% | 5.02% | |
| Sharpe ratio | ||||
| BND | -0.43 | -0.59 | -0.09 | |
| Primary benchmark* | -0.43 | -0.59 | -0.09 | |
| Broad-based benchmark | -0.43 | -0.59 | -0.09 | |
| Sortino ratio | ||||
| BND | -0.51 | -0.71 | -0.09 | |
| Primary benchmark* | -0.51 | -0.70 | -0.09 | |
| Broad-based benchmark | -0.51 | -0.70 | -0.09 | |
Risk measures are calculated from trailing 3, 5, and 10 year fund returns relative to the associated benchmarks.
Closing priceas of07/14/2025
Current market price as of 08:15 PM ET 07/14/2025
Price analysis
Reuters disclaimer: Data is provided for information purposes only and are not intended for trading purposes. Reuters shall not be liable for any errors or any delay in the content, or for any action taken in reliance thereon. The RIC or Reuters Instrument Code set has been developed and maintained by Reuters and is the intellectual property of Reuters.
Price history
Inception date: 04/03/2007
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 | 0.03% |
| 12b-1 distribution fee | None |
Characteristicsas of07/14/2025
| BND | Benchmark | |
|---|---|---|
| Number of bonds | 11,380 | 13,841 |
| Yield to Maturity | 4.71% | 4.69% |
| Short-term reserves | — | N/A |
| BND | Benchmark | |
| Average duration | 5.8 (years) | 6.0 (years) |
| Average effective maturity | 8.2 (years) | 8.3 (years) |
| Average coupon | 3.68% | 3.72% |
Style box
Composition
Distribution by credit quality* (% of fund)as of05/31/2025
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).
ETF aggregate cash flow
Downloadthe fund's aggregate cash flow based on a specified date.
Portfolio Composition
The Portfolio Composition File identifies the expected name and amount of each security that "authorized participants" were required to deposit/receive with Vanguard to purchase/redeem a Creation Unit of ETF Shares on that date. Except in certain circumstances as deemed appropriate by Vanguard in accordance with applicable internal policies and regulatory requirements, an authorized participant purchasing/redeeming ETF Shares on that date would deposit/receive the same securities in the same amounts as shown on the PCF.
Distributions
View up to 10 years of distributions for this fund.
Distribution schedule:Monthly | Fiscal year-end date:12/31/2025
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.
Vanguard ETF® Shares are not redeemable with the issuing fund other than in very large aggregations worth millions of dollars. Instead, investors must buy and sell Vanguard ETF Shares in the secondary market and hold those shares in a brokerage account. In doing so, the investor may incur brokerage commissions and may pay more than net asset value when buying and receive less than net asset value when selling.
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. Investments are subject to market risk. Go to the performance page to read more about risk and volatility.