Overview |
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Investment Objective
The Portfolio seeks to track the performance of a broad, market-weighted bond index.
Investment Strategy
The Portfolio invests 100% of its assets in Vanguard Total Bond Market Index Fund, which employs an indexing investment approach designed to track the performance of the Bloomberg Barclays U.S. Aggregate Float Adjusted Index. This Index represents a wide spectrum of public, investment-grade, taxable, fixed income securities in the United States—including government, corporate, and international dollar-denominated bonds, as well as mortgage-backed and asset-backed securities—all with maturities of more than 1 year. The Fund invests by sampling the Index, meaning that it holds a broadly diversified collection of securities that, in the aggregate, approximates the full Index in terms of key risk factors and other characteristics. All of the Fund's investments will be selected through the sampling process, and at least 80% of the Fund's assets will be invested in bonds held in the Index. The Fund maintains a dollar-weighted average maturity consistent with that of the Index, which generally ranges between 5 and 10 years.
Investment Risks
The Portfolio primarily is subject to interest rate risk, income risk, call risk, prepayment risk, credit risk, extension risk, and index sampling risk. The Portfolio also has a low level of derivatives risk.
Average Annual Returns - Updated Monthly as of
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Annual Investment Returns
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