Fund Evaluator:
Vanguard Emerging Markets Bond Admiral (VEGBX)
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Best Performing in Emerging Markets Bond Over the Last Year
| 18.7% | American Beacon DevelopingWldIncFd-InvCl (AGEPX) |
| 14.9% | Artisan Emerging Markets Debt Opp Inv (APFOX) |
| 13.9% | Fidelity Advisor New Markets Income Z (FGBMX) |
| 13.8% | Fidelity New Markets Income (FNMIX) |
| 13.7% | TCW Emerging Markets Income N (TGINX) |
Fund Details
Vanguard Emerging Markets Bond Admiral Overview
Vanguard Emerging Markets Bond Admiral (VEGBX) is an actively managed Taxable Bond Emerging Markets Bond fund. Vanguard launched the fund in 2017.
The investment seeks to provide total return while generating a moderate level of current income. The fund invests in bonds of various maturities, yields, and qualities. The fund will invest at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in bonds of issuers that are tied economically to emerging market countries. The fund is non-diversified.
About Vanguard Emerging Markets Bond Admiral (VEGBX)
There are 2 members of the management team with an average tenure of 8.47 years: Daniel Shaykevich (2016), Mauro Favini (2019). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: JPM EMBI Global Diversified TR USD index with a weighting of 100% and Bloomberg Gbl Agg Ex USD TR USD index with a weighting of 100%. Vanguard Emerging Markets Bond Admiral has 266 securities in its portfolio. The top 10 holdings constitute 21.2% of the fund’s assets. The fund meets the SEC requirement of being classified as a nondiversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
Vanguard Emerging Markets Bond Admiral is part of the Fixed Income global asset class and is within the Taxable Bond fund group. Vanguard Emerging Markets Bond Admiral has 89.8% 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 94.8% (4.9% domestic bond, 89.8% foreign bond and 0.0% convertible bond). Vanguard Emerging Markets Bond Admiral has 5.3% of the portfolio in cash.
Assets Under Management
The fund has $5 billion in total assets, which is above the $325 million average for the Emerging Markets 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.
VEGBX 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 Emerging Markets Bond Admiral expense ratio is below average compared to funds in the Emerging Markets Bond category. Vanguard Emerging Markets Bond Admiral has an expense ratio of 0.35%, 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 Emerging Markets Bond Admiral has a portfolio turnover rate of 119%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 82% for the Emerging Markets Bond category.
Recently, in the month of June 2026, Vanguard Emerging Markets Bond Admiral returned 0.8%, which earned it a grade of C, as the Emerging Markets Bond category had an average return of 0.7%. 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 Emerging Markets Bond Admiral has a trailing yield of 5.61%, which is below the 5.95% 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 Emerging Markets Bond Admiral Grades
Year to date, the fund has returned 3.5%, 0.1 percentage points better than the category, which translates into a grade of B. The fund has returned 11.6% over the past year (grade of B), 11.1% over the past three years (grade of B) and 4.4% per year over the past five years (grade of A) and 6.8% per year over the past 10 years (grade of A).
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VEGBX 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 |
|
| VEGBX Return (NAV) | 0.8% | 5.0% | 11.6% | 11.1% | 4.4% | 6.8% |
| VEGBX Grade | C | B | B | B | A | A |
| +/- Category | 0.1% | 0.6% | 0.6% | 1.0% | 1.4% | 2.9% |
| Emerging Markets Bond Avg | 0.7% | 4.4% | 11.0% | 10.1% | 3.0% | 3.8% |
| VEGBX Tax Cost Ratio | na | na | 2.3% | 2.7% | 2.6% | na |
VEGBX Annual NAV Total ReturnsData as of 6/30/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| VEGBX Return (NAV) | 3.5% | 14.5% | 7.1% | 13.8% | -13.0% | -1.2% | 15.2% | 17.9% | -0.7% | 13.3% | na |
| VEGBX Grade | B | C | C | A | B | A | A | A | A | B | na |
| +/- Category | 0.1% | 0.6% | 0.7% | 2.2% | 1.8% | 1.7% | 9.7% | 4.7% | 4.7% | 2.1% | na |
| Emerging Markets Bond Avg | 3.4% | 13.8% | 6.3% | 11.6% | -14.8% | -2.9% | 5.5% | 13.1% | -5.4% | 11.2% | 11.9% |
| Risk Measures | |
| Standard Deviation: | 6.4% |
| Total Risk Index: | 0.52 - Below Average |
| Category Risk Index: | 1.01 - Below Average |
| Category Risk Grade: | B (33% Rank) |
| Beta: | 0.99 |
| R-Squared: | 75% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | na |
| Bond Investment Style: | High Quality Moderate Sensitivity |
| Yield: | 5.6% |
| Dividend Distribution: | Monthly |
| Cap Gains Distribution: | |
| Total Assets: | $5762 Mil |
| Fund Total Assets: | $5,475 Mil |
| Share Class Type: | ADM |
| Portfolio Turnover: | 119% |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 10.3 years | |||
| Average Tenure: 8.5 years | |||
| Managers (Year): Shaykevich Daniel (2016), Favini Mauro (2019) | |||
Portfolio Composition (as of 5/31/26)
| # of Holdings: | 266 |
| % in Top 10 Holdings: | 21.2% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 89.8% |
Portfolio Allocation |
|
| Domestic Stock: | 0.0% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 4.9% |
| Foreign Bond: | 89.8% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 5.3% |
Purchase Information
| Fund Family: | Vanguard |
| Phone Number: | 800-662-7447 |
| Website: | www.vanguard.com |
| Status: | Open |
| Inception Date: | December 6, 2017 |
| Min. Initial Purchase: | $50,000 |
| 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 (%): | 0.35% ( Rating : Below Avg ) |
| Category Average Expense Ratio (%): | 1.01% |
| Share Class: | Vanguard Emerging Markets Bond Investor |
| Min. Subsequent Purchase: | $ 1 |
| Min. Subsequent IRA Purchase: | $ 0 |
