Vanguard Inter-Term Bond ETF (BIV)

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Vanguard Intermediate-Term Bond ETF (BIV)

Overview

Vanguard Intermediate-Term Bond ETF seeks to track the performance of a market-weighted bond index with an intermediate-term dollar-weighted average maturity.

The fund employs a “passive management”—or indexing—strategy designed to track the performance of the Barclays Capital U.S. 5–10 Year Government/Credit Bond Index. This index includes all medium and larger issues of U.S. government, investment-grade corporate, and investment-grade international dollar-denominated bonds that have maturities between 5 and 10 years and are publicly issued. The fund invests by sampling the index, meaning that it holds a range of securities that, in the aggregate, approximate the full index in terms of key risk factors and other characteristics. All of the fund’s investments will be selected through the sampling process, and at least 80% of the fund’s assets will be invested in bonds held in the index. The fund maintains a dollar-weighted average maturity consistent with that of the index, which ranges between 5 and 10 years.

The fund will invest at least 80% of its assets in bonds held in the target index. Up to 20% of the fund’s assets may be used to purchase nonpublic, investment-grade securities, generally referred to as 144A securities, as well as smaller public issues or medium-term notes not included in the index because of the small size of the issue.

[1]

Fund Information

  • Fund Manager: Vanguard Group Inc. [2]
  • Inception Date: 04/03/2007
  • Average Maturity: 7.6 years
  • Exchange: AMX
  • Ticker: BIV
  • Expense Ratio: 0.14%
  • ETF Page[3]

Top Holdings

' Inter-Term Bond ETF Barclays US 5-10 Yr Govt/Credit Idx
Number of Bonds10331488
Yield to Maturity 4.0%4.1%
Average Coupon5.4%5.2%
Average Maturity 7.6 years7.6
Average Quality*AA2/AA3AA2/AA3
Average Duration 6.3 years6.3 years
Short-Term Reserves1.4%
Fund Total Net Assets$9.4 billion
Share Class Total Net Assets$1.1 billion


References

  1. Vanguard Intermediate-Term Bond ETF (BIV)
  2. Vanguard Group Inc.
  3. Vanguard Intermediate-Term Bond ETF (BIV)
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