Fund Evaluator:
Vanguard STAR Core-Plus Bond Instl (VCPSX)
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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 STAR Core-Plus Bond Instl Overview
Vanguard STAR Core-Plus Bond Instl (VCPSX) is an actively managed Taxable Bond Intermediate Core-Plus Bond fund. Vanguard launched the fund in 2025.
The investment seeks to provide total return while generating a moderate to high level of current income. The fund advisor employs an active management approach, investing in bonds of various maturities, yields, and qualities. Under normal circumstances, the fund invests at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in bonds.
About Vanguard STAR Core-Plus Bond Instl (VCPSX)
There are 4 members of the management team with an average tenure of 1.39 years: Daniel Shaykevich (2025), Brian Quigley (2025), Arvind Narayanan (2025), Michael Chang (2025). Management tenure is more important for actively managed funds than passive index funds.
Vanguard STAR Core-Plus Bond Instl has 3105 securities in its portfolio. The top 10 holdings constitute 12.4% 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 STAR Core-Plus Bond Instl is part of the Fixed Income global asset class and is within the Taxable Bond fund group. Vanguard STAR Core-Plus Bond Instl has 30.4% 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 99.6% (69.2% domestic bond, 30.4% foreign bond and 0.0% convertible bond). Vanguard STAR Core-Plus Bond Instl has 0.4% of the portfolio in cash.
Assets Under Management
The fund has $8 billion in total assets, which is above 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.
VCPSX 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 STAR Core-Plus Bond Instl expense ratio is below average compared to funds in the Intermediate Core-Plus Bond category. Vanguard STAR Core-Plus Bond Instl has an expense ratio of 0.20%, 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 STAR Core-Plus Bond Instl has a portfolio turnover rate of 327%, 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 STAR Core-Plus Bond Instl returned -1.3%, 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 STAR Core-Plus Bond Instl has a trailing yield of 4.46%, 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 STAR Core-Plus Bond Instl Grades
Year to date, the fund has returned -0.1%, 0.5 percentage points better than the category, which translates into a grade of A. The fund has returned 3.3% over the past year (grade of A).
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VCPSX 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 |
|
| VCPSX Return (NAV) | -1.3% | -0.6% | 3.3% | na | na | na |
| VCPSX Grade | B | B | A | na | na | na |
| +/- Category | 0.0% | 0.1% | 0.6% | na | na | na |
| Intermediate Core-Plus Bond Avg | -1.3% | -0.7% | 2.7% | 4.2% | -0.2% | 1.8% |
| VCPSX Tax Cost Ratio | na | na | 1.9% | na | na | na |
VCPSX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| VCPSX Return (NAV) | -0.1% | na | na | na | na | na | na | na | na | na | na |
| VCPSX Grade | A | na | na | na | na | na | na | na | na | na | na |
| +/- Category | 0.5% | na | na | na | na | 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: | na |
| Total Risk Index: | na |
| Category Risk Index: | na |
| Category Risk Grade: | |
| Beta: | na |
| R-Squared: | na |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Small-Cap Value |
| Bond Investment Style: | na Moderate Sensitivity |
| Yield: | 4.5% |
| Dividend Distribution: | Monthly |
| Cap Gains Distribution: | Annually |
| Total Assets: | $8694 Mil |
| Fund Total Assets: | $8,694 Mil |
| Share Class Type: | Inst |
| Portfolio Turnover: | 327% |
Management Team
| Number of Managers: 4 | |||
| Longest Tenure: 1.4 years | |||
| Average Tenure: 1.4 years | |||
| Managers (Year): Shaykevich Daniel (2025), Quigley Brian (2025), Narayanan Arvind (2025), Chang Michael (2025) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 3105 |
| % in Top 10 Holdings: | 12.4% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 30.4% |
Portfolio Allocation |
|
| Domestic Stock: | 0.0% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 69.2% |
| Foreign Bond: | 30.4% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 0.4% |
Purchase Information
| Fund Family: | Vanguard |
| Phone Number: | 800-662-7447 |
| Website: | www.vanguard.com |
| Status: | Open |
| Inception Date: | March 12, 2025 |
| Min. Initial Purchase: | $5,000,000 |
| 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 (%): | 0.20% ( Rating : Below Avg ) |
| Category Average Expense Ratio (%): | 0.78% |
| Share Class: | Vanguard STAR Core-Plus Bond Instl |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
