Fund Evaluator:
Vanguard Total Bond Market Index Inv (VBMFX)
Follow This Fund
Best Performing in Intermediate Core Bond Over the Last Year
| 5.2% | MML Barings Core Bond M1 (MMCDX) |
| 5.2% | MML Barings Core Bond M2 (MMCAX) |
| 5.0% | Aristotle Pacific EXclusive Series I (APXIX) |
| 4.5% | Nuveen Core Impact Bond I (TSBHX) |
| 4.3% | Carillon Reams Core Bond I (SCCIX) |
Fund Details
Vanguard Total Bond Market Index Inv Overview
Vanguard Total Bond Market Index Inv (VBMFX) is a passively managed Taxable Bond Intermediate Core Bond fund. Vanguard launched the fund in 1986.
The investment seeks to track the performance of the Bloomberg U.S. Aggregate Float Adjusted Index. This index measures the performance of 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. All of the fund's investments will be selected through the sampling process, and at least 80% of its assets will be invested in bonds held in the index.
About Vanguard Total Bond Market Index Inv (VBMFX)
There are 1 members of the management team with an average tenure of 13.36 years: Joshua Barrickman (2013). Management tenure is more important for actively managed funds than passive index funds.
The fund has 1 primary benchmark: Bloomberg US Agg Float Adj TR USD index with a weighting of 100%. Vanguard Total Bond Market Index Inv has 17389 securities in its portfolio. The top 10 holdings constitute 4.1% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
Vanguard Total Bond Market Index Inv is part of the Fixed Income global asset class and is within the Taxable Bond fund group. Vanguard Total Bond Market Index Inv has 7.0% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 0.0%. There is 0.0% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 97.9% (90.9% domestic bond, 7.0% foreign bond and 0.0% convertible bond). Vanguard Total Bond Market Index Inv has 2.1% of the portfolio in cash.
Assets Under Management
The fund has $384 million in total assets, which is below the $3 billion average for the Intermediate Core Bond category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
VBMFX Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Vanguard Total Bond Market Index Inv expense ratio is low compared to funds in the Intermediate Core Bond category. Vanguard Total Bond Market Index Inv has an expense ratio of 0.15%, which is 74% lower than its category average, making the fund expense ratio grade a A. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. Vanguard Total Bond Market Index Inv has a portfolio turnover rate of 38%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 150% for the Intermediate Core Bond category.
Recently, in the month of June 2026, Vanguard Total Bond Market Index Inv returned 0.2%, which earned it a grade of C, as the Intermediate Core Bond category had an average return of 0.2%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.
Vanguard Total Bond Market Index Inv has a trailing yield of 3.88%, which is below the 3.97% category average. The fund normally distributes its income monthly.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
Vanguard Total Bond Market Index Inv Grades
Year to date, the fund has returned 0.7%, 0.1 percentage points better than the category, which translates into a grade of B. The fund has returned 3.6% over the past year (grade of C), 4.1% over the past three years (grade of D) and -0.0% per year over the past five years (grade of C) and 1.4% per year over the past 10 years (grade of D).
For more mutual fund grades, analysis and screening tools to help your investment discovery, join AAII for a $2, full-access trial. Learn more here: https://invest.aaii.com/membership.
Otherwise, for more information about Vanguard Total Bond Market Index Inv, including its riskiness, submit your email to unlock the rest of the article.
Gain access to exclusive AAII member-only content.
VBMFX Trailing NAV Total Returns Data as of 6/30/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| VBMFX Return (NAV) | 0.2% | 0.7% | 3.6% | 4.1% | -0.0% | 1.4% |
| VBMFX Grade | C | C | C | D | C | D |
| +/- Category | -0.0% | -0.0% | -0.1% | -0.1% | -0.0% | -0.1% |
| Intermediate Core Bond Avg | 0.2% | 0.7% | 3.7% | 4.2% | -0.0% | 1.6% |
| VBMFX Tax Cost Ratio | na | na | 1.6% | 1.5% | 1.3% | 1.1% |
VBMFX Annual NAV Total ReturnsData as of 6/30/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| VBMFX Return (NAV) | 0.7% | 7.0% | 1.1% | 5.6% | -13.2% | -1.8% | 7.6% | 8.6% | -0.1% | 3.5% | 2.5% |
| VBMFX Grade | B | C | D | C | B | D | D | C | B | C | D |
| +/- Category | 0.1% | 0.0% | -0.4% | -0.0% | -0.1% | -0.3% | -0.5% | 0.1% | 0.3% | -0.1% | -0.3% |
| Intermediate Core Bond Avg | 0.6% | 7.0% | 1.6% | 5.6% | -13.2% | -1.5% | 8.1% | 8.5% | -0.4% | 3.6% | 2.8% |
| Risk Measures | |
| Standard Deviation: | 5.5% |
| Total Risk Index: | 0.45 - Low |
| Category Risk Index: | 0.99 - Below Average |
| Category Risk Grade: | B (33% Rank) |
| Beta: | 0.98 |
| R-Squared: | 100% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | na |
| Bond Investment Style: | High Quality Moderate Sensitivity |
| Yield: | 3.9% |
| Dividend Distribution: | Monthly |
| Cap Gains Distribution: | None |
| Total Assets: | $396643 Mil |
| Fund Total Assets: | $ 385 Mil |
| Share Class Type: | Inv |
| Portfolio Turnover: | 38% |
Management Team
| Number of Managers: 1 | |||
| Longest Tenure: 13.4 years | |||
| Average Tenure: 13.4 years | |||
| Managers (Year): Barrickman Joshua (2013) | |||
Portfolio Composition (as of 5/31/26)
| # of Holdings: | 17389 |
| % in Top 10 Holdings: | 4.1% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 7.0% |
Portfolio Allocation |
|
| Domestic Stock: | 0.0% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 90.9% |
| Foreign Bond: | 7.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 2.1% |
Purchase Information
| Fund Family: | Vanguard |
| Phone Number: | 800-662-7447 |
| Website: | www.vanguard.com |
| Status: | Closed |
| Inception Date: | December 11, 1986 |
| Min. Initial Purchase: | $3,000 |
| Min. Initial IRA Purchase: | $ 0 |
| True No-Load: | Yes |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | na |
Expenses and Fees | |
| Expense Ratio (%): | 0.15% ( Rating : Low ) |
| Category Average Expense Ratio (%): | 0.57% |
| Share Class: | Vanguard Total Bond Market Index Inv |
| Min. Subsequent Purchase: | $ 1 |
| Min. Subsequent IRA Purchase: | $ 0 |
