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A Silver-Rated Vanguard Fund for Long-Term Bond Investors

Vanguard Long-Term Investment-Grade Fund has performed well, but it is one of the most interest-rate-sensitive taxable bond funds.


Beth Foos: The Vanguard Long-Term Investment-Grade Fund is good at what it's designed to do. The fund's solid long-term record, strong team, and low expenses earn it a Morningstar Analyst Rating of Silver.

In June of 2016, the lead manager of this fund, L.T. Hill, retired from Wellington Management Company, this fund's longtime subadvisor. Comanager Scott St. John, who worked closely with Hill for more than a decade, assumed sole responsibility for the Wellington-run portion of the fund (which makes up about 90% of its assets). Because the firm takes a team-based approach, this hasn't caused significant disruption to the team or its process.

Elizabeth Foos does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.