Vanguard Intermediate-Term Investment-Grade Fund Investor Shares
VFICX
NASDAQ- -
USD
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Capital Structure
FRC
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in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
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in mil. unless spec.Quarterly Revenue
FRC
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management
- Address
- PO Box 2600 Valley Forge PA United States of America 19482
- IPO Date
- Oct 29, 1993
- CIK
- 0000106444
- Website
- investor.vanguard.com
- Similar Companies
- Business
- Vanguard Intermediate-Term Investment-Grade Fund Investor Shares (VFICX) is an open-end mutual fund that seeks capital preservation and income by investing primarily in a diversified portfolio of investment-grade fixed-income securities with short- to intermediate-term maturities. The fund allocates at least 80% of its assets to high-quality (rated A3 or better equivalent) and medium-quality (rated Baa1 to Baa3 equivalent) bonds, maintaining a dollar-weighted average maturity of five to ten years; its portfolio emphasizes U.S. bonds (approximately 80%), non-U.S. bonds (17%), corporate bonds (over 85% of sectors), government securities, cash equivalents, commercial mortgage-backed securities, and convertibles, with top holdings including United States Treasury Notes and AT&T Inc. notes. Managed by The Vanguard Group, Inc., with Daniel Shaykevich since April 2018 and Arvind Narayanan since November 2019, VFICX features a low net expense ratio of 0.20%, daily pricing, and a minimum initial investment of $3,000 for investor shares. Headquartered in Malvern, Pennsylvania, where The Vanguard Group was founded in 1975, the fund operates primarily in the United States, with total net assets exceeding $36 billion across share classes and availability limited to U.S. investors. Launched on November 1, 1993, VFICX targets individual and institutional investors seeking moderate interest-rate sensitivity and mid-credit-quality exposure within the corporate bond category. Recent developments include sustained strong performance, with a year-to-date return of approximately 7.90% to 9.57% as of late 2025 and an annualized return of over 5% since inception, alongside portfolio turnover reflecting active management within its benchmark, the Bloomberg U.S. 5-10 Year Credit Bond Index. Vanguard has undertaken broader fixed-income strategic adjustments in 2024-2025, such as allocation changes to other funds like Vanguard STAR Fund (implemented in Q1 2025) and manager roster trims across bond and equity products to enhance efficiency, though VFICX maintains its core strategy and management team without reported reorganizations, new launches, or acquisitions specific to the fund. These firm-wide optimizations support VFICX's focus on investment-grade corporates amid a higher-for-longer interest rate environment outlined in Vanguard's 2025 economic outlook.