Fund Evaluator:
Vanguard Core-Plus Bond Investor (VCPIX)
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Best Performing in Intermediate Core-Plus Bond Over the Last Year
| 4.1% | Diamond Hill Core Plus Bond Y (DHNYX) |
| 3.9% | Diamond Hill Core Plus Bond I (DHNIX) |
| 3.7% | Diamond Hill Core Plus Bond Investor (DHNAX) |
| 3.5% | Weitz Core Plus Income Investor (WCPNX) |
| 3.4% | Nuveen Core Plus Bond I (TCBHX) |
Fund Details
Vanguard Core-Plus Bond Investor Overview
Vanguard Core-Plus Bond Investor (VCPIX) is an actively managed Taxable Bond Intermediate Core-Plus Bond fund. Vanguard launched the fund in 2021.
The investment seeks to provide total return while generating a moderate to high level of current income. Under normal circumstances, the fund will invest at least 80% of its assets in bonds, which include fixed income securities such as corporate bonds; U.S. Treasury obligations and other U.S. government and agency securities; and asset-backed, mortgage-backed, and mortgage-related securities. All bonds purchased by the fund will have a maturity of 90 days or more at the time of their issuance. It may invest in fixed income securities of non-U.S. issuers, including emerging market countries.
About Vanguard Core-Plus Bond Investor (VCPIX)
There are 4 members of the management team with an average tenure of 4.80 years: Daniel Shaykevich (2021), Brian Quigley (2021), Arvind Narayanan (2021), Michael Chang (2021). Management tenure is more important for actively managed funds than passive index funds.
The fund has 1 primary benchmark: Bloomberg US Universal TR USD index with a weighting of 100%. Vanguard Core-Plus Bond Investor has 2587 securities in its portfolio. The top 10 holdings constitute 12.2% 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 Core-Plus Bond Investor is part of the Fixed Income global asset class and is within the Taxable Bond fund group. Vanguard Core-Plus Bond Investor has 29.5% 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 97.8% (68.3% domestic bond, 29.5% foreign bond and 0.0% convertible bond). Vanguard Core-Plus Bond Investor has 2.2% of the portfolio in cash.
Assets Under Management
The fund has $73 million in total assets, which is below the $1 billion average for the Intermediate Core-Plus 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.
VCPIX 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 Core-Plus Bond Investor expense ratio is below average compared to funds in the Intermediate Core-Plus Bond category. Vanguard Core-Plus Bond Investor has an expense ratio of 0.30%, which is 62% 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 Core-Plus Bond Investor has a portfolio turnover rate of 384%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 181% for the Intermediate Core-Plus Bond category.
Recently, in the month of July 2026, Vanguard Core-Plus Bond Investor returned -1.2%, which earned it a grade of B, as the Intermediate Core-Plus Bond category had an average return of -1.3%. 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 Core-Plus Bond Investor has a trailing yield of 4.39%, which is above the 4.36% category average. The fund normally distributes its income monthly and its capital gains annually.
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 Core-Plus Bond Investor Grades
Year to date, the fund has returned -0.3%, 0.3 percentage points better than the category, which translates into a grade of B. The fund has returned 3.2% over the past year (grade of B) and 4.6% over the past three years (grade of B).
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VCPIX Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| VCPIX Return (NAV) | -1.2% | -0.6% | 3.2% | 4.6% | na | na |
| VCPIX Grade | B | B | B | B | na | na |
| +/- Category | 0.1% | 0.1% | 0.4% | 0.5% | na | na |
| Intermediate Core-Plus Bond Avg | -1.3% | -0.7% | 2.7% | 4.2% | -0.2% | 1.8% |
| VCPIX Tax Cost Ratio | na | na | 1.7% | 1.9% | na | na |
VCPIX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| VCPIX Return (NAV) | -0.3% | 8.0% | 2.5% | 6.6% | -12.7% | na | na | na | na | na | na |
| VCPIX Grade | B | A | B | B | B | na | na | na | na | na | na |
| +/- Category | 0.3% | 0.7% | 0.2% | 0.5% | 0.7% | na | na | na | na | na | na |
| Intermediate Core-Plus Bond Avg | -0.6% | 7.3% | 2.3% | 6.1% | -13.4% | -0.6% | 8.6% | 9.1% | -0.9% | 4.4% | 4.3% |
| 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: | 99% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Small-Cap Value |
| Bond Investment Style: | na Moderate Sensitivity |
| Yield: | 4.4% |
| Dividend Distribution: | Monthly |
| Cap Gains Distribution: | Annually |
| Total Assets: | $955 Mil |
| Fund Total Assets: | $ 74 Mil |
| Share Class Type: | Inv |
| Portfolio Turnover: | 384% |
Management Team
| Number of Managers: 4 | |||
| Longest Tenure: 4.8 years | |||
| Average Tenure: 4.8 years | |||
| Managers (Year): Shaykevich Daniel (2021), Quigley Brian (2021), Narayanan Arvind (2021), Chang Michael (2021) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 2587 |
| % in Top 10 Holdings: | 12.2% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 29.5% |
Portfolio Allocation |
|
| Domestic Stock: | 0.0% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 68.3% |
| Foreign Bond: | 29.5% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 2.2% |
Purchase Information
| Fund Family: | Vanguard |
| Phone Number: | 800-662-7447 |
| Website: | www.vanguard.com |
| Status: | Open |
| Inception Date: | October 14, 2021 |
| 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 (%): | 0.30% ( Rating : Below Avg ) |
| Category Average Expense Ratio (%): | 0.78% |
| Share Class: | Vanguard Core-Plus Bond Admiral |
| Min. Subsequent Purchase: | $ 1 |
| Min. Subsequent IRA Purchase: | $ 0 |
