Fund info

Vanguard Short-Term Investment-Grade Fund Admiral Shares is an actively managed mutual fund focused on high-quality U.S. fixed income. Its primary objective is to provide current income with limited price volatility by investing predominantly in short-term corporate bonds, complemented by selective exposure to intermediate-term corporate obligations and government securities. The portfolio emphasizes investment‑grade credits, generally concentrating in securities rated A to BBB, to balance income generation with credit discipline. With a low expense structure and broad diversification across thousands of holdings, the fund targets an effective duration in the short range to reduce sensitivity to interest-rate movements while maintaining regular monthly distributions. Positioned within the short-term bond category, it serves as a core defensive allocation for investors seeking stability and income in the front end of the yield curve. The fund’s scale and multi-manager structure support consistent execution and liquidity, and its long operating history has made it a widely used vehicle for parking capital with moderate credit risk and lower interest-rate exposure compared with intermediate- and long-duration bond strategies.