Vanguard Short-Term Bond Index Fund Admiral Shares
VBIRX
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management - Bonds
- Address
- 100 Vanguard Boulevard Malvern PA United States of America 19355
- IPO Date
- Nov 12, 2001
- CIK
- 0000794105
- Website
- investor.vanguard.com
- Similar Companies
- Business
- Vanguard Short-Term Bond Index Fund Admiral Shares (VBIRX) is a mutual fund that seeks to track the performance of the Bloomberg U.S. 1-5 Year Government/Credit Float Adjusted Index by investing at least 80% of its assets in bonds included in the index. The fund primarily holds investment-grade, short-term U.S. government bonds, such as U.S. Treasury notes and bills; investment-grade corporate bonds; and investment-grade international dollar-denominated bonds with maturities between one and five years, excluding riskier types like those with equity features, contingent capital securities, asset-backed securities, or mortgage-backed securities. Its portfolio emphasizes high credit quality, with nearly three-fourths of assets rated AAA or AA, market-value weighting for liquidity, and a typical allocation of around 70% to government bonds and 25% to corporates, alongside a small cash component and geographic diversification including supranational, Canada, United Kingdom, Japan, and Germany exposures. Operated by The Vanguard Group, Inc., founded in 1975 and headquartered in Malvern, Pennsylvania, the Admiral Shares class (VBIRX), launched in 2001 with a minimum initial investment of $3,000, caters to institutional and qualified investors seeking low-cost fixed-income exposure in the short-term bond category. The fund maintains an adjusted expense ratio of 0.07%, a TTM yield of 3.80%, effective duration of 2.61 years, and total assets exceeding $68 billion as of late 2025, reflecting Vanguard's client-owned structure and global operations across North America, Europe, Australia, and other regions. Recent developments at Vanguard, the fund's sponsor, include its largest fee cuts in early 2025 costing an estimated $350 million, the establishment of a dedicated advice and wealth management division, and the launch of approximately a dozen low-cost bond ETFs in the U.S. and abroad through mid-2025 to expand its bond offerings. Vanguard also entered private assets through collaborations with Wellington and Blackstone, alongside robust asset inflows rivaling BlackRock and a client base more than doubled since 2015, while leadership changes featured Salim Ramji as CEO and Natalie Lamarque as Chief Legal Officer effective September 30, 2025. These initiatives underscore Vanguard's strategic push into competitive advisory services and innovative fixed-income products without altering VBIRX's core index-tracking strategy or holdings composition.