Fund Evaluator:
Vanguard Core Bond Investor (VCORX)
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Fund Details
Vanguard Core Bond Investor Overview
Vanguard Core Bond Investor (VCORX) is an actively managed Taxable Bond Intermediate Core Bond fund. Vanguard launched the fund in 2016.
The investment seeks to provide total return while generating a moderate level of current income. The fund invests in fixed income securities of various maturities, yields, and qualities. Under normal circumstances, it invests at least 80% of its net assets, plus the amount of any borrowings for investment purposes, 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.
About Vanguard Core Bond Investor (VCORX)
There are 3 members of the management team with an average tenure of 8.37 years: Daniel Shaykevich (2018), Brian Quigley (2016), Arvind Narayanan (2019). 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 Core Bond Investor has 3349 securities in its portfolio. The top 10 holdings constitute 12.8% 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 Bond Investor is part of the Fixed Income global asset class and is within the Taxable Bond fund group. Vanguard Core Bond Investor has 21.1% 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 100.2% (79.2% domestic bond, 21.1% foreign bond and 0.0% convertible bond). Vanguard Core Bond Investor has -0.2% of the portfolio in cash.
Assets Under Management
The fund has $268 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.
VCORX 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 Bond Investor expense ratio is below average compared to funds in the Intermediate Core Bond category. Vanguard Core Bond Investor has an expense ratio of 0.20%, which is 65% 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 Bond Investor has a portfolio turnover rate of 367%, 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 Core Bond Investor returned 0.3%, which earned it a grade of B, 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 Core Bond Investor has a trailing yield of 4.24%, which is above 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 Core Bond Investor Grades
Year to date, the fund has returned 0.8%, 0.2 percentage points better than the category, which translates into a grade of A. The fund has returned 3.9% over the past year (grade of B), 4.6% over the past three years (grade of A) and 0.3% per year over the past five years (grade of B) and 1.9% per year over the past 10 years (grade of B).
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VCORX 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 |
|
| VCORX Return (NAV) | 0.3% | 0.9% | 3.9% | 4.6% | 0.3% | 1.9% |
| VCORX Grade | B | A | B | A | B | B |
| +/- Category | 0.0% | 0.2% | 0.3% | 0.5% | 0.3% | 0.3% |
| Intermediate Core Bond Avg | 0.2% | 0.7% | 3.7% | 4.2% | -0.0% | 1.6% |
| VCORX Tax Cost Ratio | na | na | 1.7% | 1.8% | 1.5% | 1.3% |
VCORX Annual NAV Total ReturnsData as of 6/30/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| VCORX Return (NAV) | 0.8% | 7.7% | 1.7% | 5.9% | -13.3% | -1.5% | 10.2% | 9.5% | -0.9% | 3.8% | na |
| VCORX Grade | A | A | B | B | C | C | A | A | F | B | na |
| +/- Category | 0.2% | 0.6% | 0.2% | 0.3% | -0.1% | -0.0% | 2.1% | 1.0% | -0.5% | 0.2% | na |
| 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: | 1.00 - Average |
| Category Risk Grade: | C (53% Rank) |
| Beta: | 0.99 |
| R-Squared: | 100% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Small-Cap Value |
| Bond Investment Style: | na Moderate Sensitivity |
| Yield: | 4.2% |
| Dividend Distribution: | Monthly |
| Cap Gains Distribution: | |
| Total Assets: | $22043 Mil |
| Fund Total Assets: | $ 268 Mil |
| Share Class Type: | Inv |
| Portfolio Turnover: | 367% |
Management Team
| Number of Managers: 3 | |||
| Longest Tenure: 10.3 years | |||
| Average Tenure: 8.4 years | |||
| Managers (Year): Quigley Brian (2016), Shaykevich Daniel (2018), Narayanan Arvind (2019) | |||
Portfolio Composition (as of 5/31/26)
| # of Holdings: | 3349 |
| % in Top 10 Holdings: | 12.8% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 21.1% |
Portfolio Allocation |
|
| Domestic Stock: | 0.0% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 79.2% |
| Foreign Bond: | 21.1% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | -0.2% |
Purchase Information
| Fund Family: | Vanguard |
| Phone Number: | 800-662-7447 |
| Website: | www.vanguard.com |
| Status: | Open |
| Inception Date: | March 28, 2016 |
| 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 (%): | 0.20% ( Rating : Below Avg ) |
| Category Average Expense Ratio (%): | 0.57% |
| Share Class: | Vanguard Core Bond Admiral |
| Min. Subsequent Purchase: | $ 1 |
| Min. Subsequent IRA Purchase: | $ 0 |
