The investment seeks to provide a high level of current income. The fund invests mainly in a diversified group of high-yielding, higher-risk corporate bonds-commonly known as "junk bonds"-with medium- and lower-range credit-quality ratings. It invests at least 80% of its assets in corporate bonds that are rated below Baa by Moody's Investors Service, Inc. (Moody's); have an equivalent rating by any other independent bond-rating agency; or, if unrated, are determined to be of comparable quality by the fund's advisor. The fund's high-yield bonds and loans mostly have short- and intermediate-term maturities.
Fund filings (PDF) »
Michael Hong (Started: Feb 14, 2008)
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Vanguard, 100 Vanguard Boulevard, Malvern, PA 19355, USA