Morningstar

Vanguard Limited-Term Tax-Exempt Fund VMLTX

Medalist Rating as of Apr 27, 2026 See Vanguard Investment Hub

Will VMLTX outperform in the future?

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

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Process Pillar
The Process Pillar is our assessment of how sensible, clearly defined, and repeatable VMLTX’s performance objective and investment process is for both security selection and portfolio construction.
People Pillar
The People Pillar is our evaluation of the VMLTX 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 VMLTX’s parent organization’s priorities and whether they’re in line with investors’ interests.

A topnotch short-term muni offering.

Analyst Ken Noguchi

Ken Noguchi

Analyst

Summary

Vanguard Limited-Term Tax-Exempt combines experienced leadership with a disciplined approach that stands out and delivers consistently strong results versus muni-national short Morningstar Category peers.

by Ken Noguchi

Rated on Apr 27, 2026 Published on Apr 27, 2026

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