Morningstar

Vanguard GNMA Fund Investor Shares VFIIX

Morningstar Medalist Rating
Medalist Rating as of | See Vanguard Investment Hub
  • NAV / 1-Day Return 9.33  /  −0.21 %
  • Total Assets 10.9B
  • Adj. Expense Ratio
    0.210%
  • Expense Ratio 0.210%
  • Distribution Fee Level Low
  • Share Class Type No Load
  • Category Government Mortgage-Backed Bond
  • Credit Quality / Interest Rate Sensitivity —
  • Min. Initial Investment 3,000
  • Status Open
  • TTM Yield 3.68%
  • Effective Duration 5.91 years

USD | NAV as of Jul 22, 2026 | 1-Day Return as of Jul 22, 2026, 12:11 AM GMT+0

Morningstar’s Analysis VFIIX

Will VFIIX outperform in the future?

Get our overall rating based on a fundamental assessment of the pillars below.

  • Process Pillar

    The Process Pillar is our assessment of how sensible, clearly defined, and repeatable VFIIX’s performance objective and investment process is for both security selection and portfolio construction.

  • People Pillar

    The People Pillar is our evaluation of the VFIIX management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.

  • Parent Pillar

    The Parent Pillar is our rating of VFIIX’s parent organization’s priorities and whether they’re in line with investors’ interests.

One of the top options for GNMA exposure at a good price.

Analyst Ken Noguchi

Ken Noguchi

Analyst

Summary

Vanguard GNMA’s repeatable and effective approach stands out, and increased conviction in the team’s abilities and decision-making, as well as improvements in quantitative capabilities, warrant a People rating upgrade to Above Average from Average.

by Ken Noguchi
Rated on Published on

Unlock our full analysis with Morningstar Investor

Portfolio Holdings VFIIX

More VFIIX Holdings
  • Current Portfolio Date
  • Equity Holdings —
  • Bond Holdings —
  • Other Holdings —
  • % Assets in Top 10 Holdings 15.8
Top 10 Holdings
% Portfolio Weight
Market Value USD
Sector

Government National Mortgage Association 5.5%

6.74 794M
Securitized

Government National Mortgage Association 5.26923%

3.90 459M
Securitized

Us Dollar

3.63 427M
Cash and Equivalents

Government National Mortgage Association

3.53 415M
Securitized

Government National Mortgage Association 6.26923%

3.28 386M
Securitized

Government National Mortgage Association

2.82 332M
Securitized

Government National Mortgage Association

2.67 315M
Securitized

Jpm Triparty Treas Ficc

2.29 270M
Cash and Equivalents

Government National Mortgage Association

2.14 252M
Securitized

Government National Mortgage Association

2.07 244M
Securitized

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