VMBIX – Vanguard Mortgage-Backed Secs Idx Instl Investment Strategy | Morningstar

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Strategy

The investment seeks to track the performance of a market-weighted mortgage-backed securities index. The fund manager employs an indexing investment approach designed to track the performance of the Bloomberg U.S. MBS Float Adjusted Index. This index covers U.S. agency mortgage-backed pass-through securities issued by the GNMA, the FNMA, and the FHLMC. To be included in the index, pool aggregates must have at least $1 billion currently outstanding and a weighted average maturity of at least 1 year. 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 included in the index.

Ticker	Name	Share Class Type	Investment Status	Morningstar Rating for Funds Overall	Medalist Rating Overall	Inception Date	Total Net Assets for Share Class	Adjusted Expense Ratio	Fee Level Distribution	Minimum Initial Investment	1-Year Net Flow
VMBS	Vanguard Mortgage-Backed Securities Index Fund ETF Shares	ETF	Open			Nov 19, 2009	$15.45B	0.030%	—	—	$410.62M
VMBS	Vanguard Mortgage-Backed Securities Index Fund ETF Shares	ETF	Open	—		Nov 19, 2009	—	0.030%	—	—	—
VMBSX	Vanguard Mortgage-Backed Securities Index Fund Admiral Shares	Institutional	Open			Dec 3, 2009	$830.97M	0.040%	Low	$3,000	−$166.07M
VMBIX	Vanguard Mortgage-Backed Securities Index Fund Institutional Shares	Institutional	Open			Oct 31, 2013	$869.11M	0.020%	Low	$5M	$99.92M

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