Vanguard Total Bond Market II Idx I
VTBNX
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Capital Structure
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management - Bonds
- Address
- 100 Vanguard Boulevard Malvern PA United States of America 19355
- IPO Date
- Jan 21, 2011
- CIK
- 0000794105
- Website
- investor.vanguard.com
- Similar Companies
- Business
- Vanguard Total Bond Market II Index Fund Institutional Shares (VTBNX) is an open-end mutual fund that seeks to track the performance of the Bloomberg U.S. Aggregate Float Adjusted Index, a broad benchmark representing the U.S. investment-grade bond market. The fund employs a passive indexing investment approach by holding a diversified portfolio of fixed-rate, taxable bonds, including U.S. Treasury securities, government agency bonds, mortgage-backed securities, and corporate debt; top holdings typically feature United States Treasury Notes comprising over 5% of assets. It offers institutional investors relatively high income potential with moderate interest-rate sensitivity and high credit quality, categorized in the Intermediate Core Bond segment with a low net expense ratio of 0.02%. Operated by The Vanguard Group, Inc., headquartered in Malvern, Pennsylvania, the fund was launched on February 17, 2009, and primarily serves U.S.-based institutional clients with a minimum initial investment of $5 million. Its portfolio emphasizes U.S. bonds (approximately 93.7%), supplemented by non-U.S. bonds (7.35%), cash equivalents, and minimal other assets, providing exposure across government, corporate, securitized, and agency sectors. Vanguard, founded in 1975, manages the fund through its Fixed Income Group, with Joshua Barrickman as portfolio manager since January 2010. Assets under management stand at approximately $318 billion for the share class, contributing to Vanguard's extensive fixed income lineup used in target-date and life-strategy products. Recent portfolio turnover remains around 55-88%, reflecting efficient index tracking amid market fluctuations. No major acquisitions, partnerships, funding rounds, or strategic shifts specific to VTBNX have been reported in the last 1-2 years, though Vanguard continues broader fixed income innovations, such as new active municipal bond ETFs announced in August 2024.