Vanguard Mortgage-Backed Securities Index Fund Admiral Shares
VMBSX
NASDAQ- -
USD
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- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
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in mil. unless spec.Growth Rates
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in mil. unless spec.Quarterly Revenue
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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
- Nov 23, 2009
- CIK
- 0001021882
- Website
- investor.vanguard.com
- Similar Companies
- Business
- Vanguard Mortgage-Backed Securities Index Fund Admiral Shares (VMBSX) is an open-end mutual fund that seeks to track the performance of the Bloomberg U.S. MBS Float Adjusted Index, a market-weighted index of U.S. agency mortgage-backed pass-through securities issued by the Government National Mortgage Association (GNMA), Federal National Mortgage Association (FNMA), and Federal Home Loan Mortgage Corporation (FHLMC); the fund employs an indexing investment approach through index sampling to approximate the target index's key risk factors, including duration, cash flow, quality, callability, and sector/subsector exposure, with at least 80% of assets invested in index-included bonds and all investments consisting of 100% government mortgage-backed securities rated in the U.S. Government category for credit quality. The fund offers Admiral Shares with a net expense ratio of 0.06%, a minimum initial investment of $3,000, daily pricing, and monthly dividend distributions, targeting individual and institutional investors seeking intermediate-term, high-quality fixed income exposure with low credit risk but sensitivity to interest rates, prepayment, extension, and liquidity factors. VMBSX operates exclusively within the United States, domiciled there with assets under management of approximately $16 billion as of recent data, and maintains a portfolio turnover rate of around 79%. Incepted on December 3, 2009, and managed by Joshua Barrickman since February 2013, the fund is part of The Vanguard Group, Inc., which was founded in 1975 and is headquartered in Malvern, Pennsylvania. Vanguard, the world's largest provider of mutual funds, oversees VMBSX as one of its passive fixed income offerings in the intermediate government category, with no subsidiaries or parent relationships beyond its mutual structure owned by fund shareholders. Recent developments at Vanguard, the fund's sponsor, include a major expense ratio reduction effective February 1, 2025, across 168 share classes of 87 funds, described as the largest fee cut in company history and projected to save investors over $350 million annually, though specific impact on VMBSX's already low 0.06% ratio remains unconfirmed; additionally, Vanguard launched multiple new fixed income products in 2024-2025, such as active municipal bond ETFs (VCRM, VSDM), long-term tax-exempt bond ETFs (VTEL, MUNY), and U.S. government bond ETFs in July 2025, alongside expansions in its Investor Choice proxy voting program to include more equity index funds. No fund-specific acquisitions, partnerships, name changes, or strategic shifts for VMBSX were reported in the last 1-2 years, reflecting its stable indexing strategy amid Vanguard's broader fixed income innovations and leadership transitions, including a new CEO appointment in 2024. The fund continues to provide diversified exposure to over 5,000 holdings, primarily agency MBS with top issuers like FNMA and FHLMC comprising about 1.61% of the portfolio.