Vanguard Long-Term Corporate Bond Index Fund Admiral Shares
VLTCX
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- Vanguard Long-Term Corporate Bond Index Fund Admiral Shares (VLTCX) is an open-end index mutual fund that employs an indexing investment approach designed to track the performance of the Bloomberg U.S. 10+ Year Corporate Bond Index. The fund invests primarily in U.S. dollar-denominated, investment-grade, fixed-rate, taxable corporate bonds issued by U.S. and non-U.S. industrial, utility, and financial companies with maturities greater than 10 years; at least 80% of its assets are allocated to bonds included in the index, with a portfolio featuring approximately 1,871 holdings, including top positions in Anheuser-Busch Companies LLC / Anheuser-Busch InBev Worldwide Inc (0.39%), CVS Health Corp (0.34%), Goldman Sachs Group Inc (0.30%), AT&T Inc (0.28%), and The Boeing Company (0.28%). It offers investors exposure to long-term corporate bonds characterized by medium credit quality and extensive interest-rate sensitivity, with an effective duration of 12.71 years, a net expense ratio of 0.06%-0.07%, and monthly dividend distributions yielding around 4.84%-5.44% on a trailing twelve-month basis. The fund, domiciled in the United States and available for sale in the U.S., targets institutional and individual investors with a minimum initial investment of $3,000 and additional investments from $1; it maintains high diversification, with 88.24% in U.S. bonds, 11.55% in non-U.S. bonds, and minimal cash (0.22%). Launched on January 19, 2010 (inception November 19/23, 2009), it is managed by Joshua Barrickman since November 19, 2009, with Jake Riley added as co-manager effective June 26, 2025, reflecting Vanguard's ongoing portfolio oversight enhancements. As of late 2025, total net assets stand at approximately $8.53-13.9 billion, with the Admiral Shares class at $370.09 million. Recent developments include the appointment of Jake Riley as co-portfolio manager in June 2025, strengthening the fund's management team amid sustained performance tracking of its benchmark; the fund has also seen steady asset growth and monthly dividend payouts, such as $0.1137 per share ex-July 31, 2025, supporting investor income needs. No major acquisitions, funding rounds, or strategic shifts have been reported in the last 1-2 years, underscoring the fund's stable passive indexing strategy within Vanguard Group Inc.'s broader fixed-income offerings.