Discover the role Treasury ETFs can play within client portfolios

Disclosures and footnotes

1 Source: Securities Industry and Financial Markets Association (SIFMA), as of December 13, 2024.

2 Source: Vanguard as of December 31, 2024.

Notes:

• For more information about Vanguard funds or Vanguard ETFs, contact your financial advisor to obtain a prospectus or, if available, a summary prospectus. Investment objectives, risks, charges, expenses, and other important information are contained in the prospectus; read and consider it carefully before investing.
• Vanguard ETF Shares are not redeemable with the issuing Fund other than in very large aggregations worth millions of dollars. Instead, investors must buy and sell Vanguard ETF Shares in the secondary market and hold those shares in a brokerage account. In doing so, the investor may incur brokerage commissions and may pay more than net asset value when buying and receive less than net asset value when selling.
• All investing is subject to risk, including the possible loss of the money you invest. Be aware that fluctuations in the financial markets and other factors may cause declines in the value of your account. There is no guarantee that any particular asset allocation or mix of funds will meet your investment objectives or provide you with a given level of income.
• Diversification does not ensure a profit or protect against a loss.
• Bond funds are subject to interest rate risk, which is the chance bond prices overall will decline because of rising interest rates, and credit risk, which is the chance a bond issuer will fail to pay interest and principal in a timely manner or that negative perceptions of the issuer’s ability to make such payments will cause the price of that bond to decline.
• U.S. government backing of Treasury or agency securities applies only to the underlying securities and does not prevent shareprice fluctuations. Unlike stocks and bonds, U.S. Treasury bills are guaranteed as to the timely payment of principal and interest. Note that some or all of the income from the U.S. Treasury obligations held in the fund may be exempt from state or local taxes.
• The Extended Duration Treasury ETF is subject to interest rate risk and credit risk. Interest rate risk is the chance that bond prices overall will decline because of rising interest rates. Interest rate risk is expected to be extremely high for the ETF because it invests mainly in zero coupon long-term bonds, which have prices that are very sensitive to interest rate changes. Because the ETF invests mainly in Treasury STRIPS with maturities ranging from 20 to 30 years, rising interest rates may cause the value of the ETF's investments to decline significantly.
• BLOOMBERG® is a trademark and service mark of Bloomberg Finance L.P. MSCI is a trademark and service mark of MSCI Inc. (collectively with its affiliates, “MSCI”), used under license. Bloomberg Finance L.P. and its affiliates (collectively, Bloomberg”), including Bloomberg Index Services Limited, the index administrator (“BISL”), or Bloomberg’s licensors, including MSCI, own all proprietary rights in the Bloomberg U.S. Treasury 1–3 Year Bond Index, Bloomberg U.S. Treasury 3–10 Year Index, Bloomberg U.S. Long Treasury Bond Index, and Bloomberg U.S. Treasury STRIPS 20–30 Year Equal Par Bond Index. Neither Bloomberg nor MSCI is affiliated with Vanguard, and neither Bloomberg nor MSCI approves, endorses, reviews or recommends Vanguard Short-Term Treasury ETF, Vanguard Intermediate-Term Treasury ETF, Vanguard Long-Term Treasury ETF, nor Vanguard Extended Duration Treasury ETF. Neither Bloomberg nor MSCI guarantees the timeliness, accurateness or completeness of any data or information relating to the aforementioned indexes and none shall be liable in any way to Vanguard, investors in the aforementioned ETFs or other third parties in respect of the use or accuracy of the aforementioned indexes or any data included therein.