Vanguard Core Bond ETF
VCRB
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- Vanguard Core Bond ETF (VCRB) is an actively managed exchange-traded fund incorporated in the United States and issued by The Vanguard Group, Inc., which seeks to provide total return and a moderate level of current income through investments in the broad U.S. investment-grade fixed income market. Launched on November 29, 2023, the ETF primarily holds USD-denominated investment-grade bonds, including U.S. Treasury and agency securities, investment-grade corporate bonds, asset-backed securities, mortgage-backed securities, and mortgage-related securities; it maintains an intermediate dollar-weighted average maturity and duration while allocating modestly to higher-risk sectors such as U.S. high-yield corporates and emerging markets debt. Headquartered in Valley Forge, Pennsylvania, The Vanguard Group, founded in 1975, manages the fund through its Vanguard Fixed Income Group with a low expense ratio of 0.10%, serving investors seeking diversified core bond exposure benchmarked against the Bloomberg U.S. Aggregate Float Adjusted Index. In 2024, VCRB delivered strong performance with nearly 100 basis points of alpha relative to its Morningstar Core Bond category peers, generated a 30-day SEC yield of approximately 4.55% and a forward dividend yield of 4.45% as of August 2025, and saw assets under management grow to over $4.8 billion amid rising monthly distributions from $0.2315 in February 2024 to $0.2886 in August 2025. The fund's active management strategy emphasizes credit selection, sector rotation, and disciplined risk controls, enabling outperformance through exposure to investment-grade corporate bonds that outperformed Treasuries in 2025, with portfolio managers Arvind Narayanan, Brian Quigley, and Daniel Shaykevich at the helm. As part of Vanguard's expansion of its active fixed income ETF lineup announced in September 2023 alongside the Vanguard Core-Plus Bond ETF (VPLS), VCRB remains a distinct product from its mutual fund counterpart, Vanguard Core Bond Fund (VCOBX), with natural variations in holdings due to differences in asset flows and sizing.