Vanguard GNMA Fund Admiral Shares
VFIJX
NASDAQ- -
USD
- -
- -
Capital Structure
FRC
•
in mil. unless spec.Working Capital
FRC
•
in mil. unless spec.Growth Rates
FRC
•
in mil. unless spec.Quarterly Revenue
FRC
•
in mil. unless spec.Quarterly Earnings Per Share
FRC
•
in mil. unless spec.Quarterly Dividends Per Share
FRC
•
in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management
- Address
- 100 Vanguard Boulevard Malvern PA United States of America 19355
- IPO Date
- Feb 12, 2001
- CIK
- 0000106444
- Website
- investor.vanguard.com
- Similar Companies
- Business
- Vanguard GNMA Fund Admiral Shares (VFIJX) is an open-end mutual fund managed by The Vanguard Group, Inc. that seeks a moderate and sustainable level of current income consistent with the stability of principal and liquidity. The fund invests at least 80% of its assets in Government National Mortgage Association (GNMA), or Ginnie Mae, pass-through certificates, which represent fixed-income securities backed by pools of federally insured mortgages; it may also hold related securities such as GNMA interest-only and principal-only securities, U.S. Treasury securities, and other mortgage-backed obligations from agencies like Fannie Mae and Freddie Mac. With total net assets of approximately $11.3 billion as of late 2025, the Admiral Shares class features a low expense ratio of 0.11%, a minimum initial investment of $50,000, and daily pricing, primarily targeting intermediate-term government bond investors in the United States. Launched on February 12, 2001, the fund is domiciled in the United States and headquartered in Malvern, Pennsylvania, as part of Vanguard's fixed income offerings managed by the Vanguard Fixed Income Group. Brian Conroy has served as lead portfolio manager since May 29, 2019, employing a strategy that emphasizes higher-coupon GNMA structures to mitigate interest rate and prepayment risks, resulting in strong risk-adjusted performance, including a 0.04% annualized return since June 2020 that outperformed peers and the Bloomberg U.S. GNMA Bond Index through September 2025. The portfolio maintains a modified duration of around 5.72 years and a beta of 1.01 relative to broad fixed-income indices, with top holdings concentrated in GNMA securities comprising over 93% U.S. bonds and agency mortgage-backed securities. In recent years, the fund has benefited from Vanguard's broader strategic initiatives in fixed income, including the launch of new municipal bond ETFs such as Vanguard Core Tax-Exempt Bond ETF (VCRM) and Vanguard Short Duration Tax-Exempt Bond ETF (VSDM) in November 2024, as well as index-based VTEI and VTEC earlier that year, reflecting expansions in active and passive bond strategies. While no direct acquisitions, funding rounds, or name changes affected VFIJX specifically within the last 1-2 years, Vanguard announced allocation adjustments to its STAR Fund in December 2024—including a new core-plus bond sleeve—for implementation starting in Q1 2025, alongside ongoing enhancements to proxy voting and intergenerational planning tools via partnerships like Vanilla. These developments underscore Vanguard's commitment to evolving its fixed-income ecosystem amid shifting interest rates and investor demands for diversified, low-cost income solutions.