ACTIVE FIXED INCOME
Active Fixed Income: Turn opportunity into action
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Disclosures and footnotes
1 Note: Vanguard calculations, based on data from Morningstar, Inc., as of December 31, 2022, show that Vanguard active fixed income funds had an average asset-weighted expense ratio of 0.11%, compared with an average asset-weighted expense ratio of 0.55% for non-Vanguard active fixed income funds.
For more information about Vanguard funds or Vanguard ETFs, view detailed product information or call 800-997-2798 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.
All investments, are subject to risk, including the possible loss of the money you invest.
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.
*Vanguard is owned by its funds, which are owned by Vanguard’s fund shareholder clients.