Morningstar

Vanguard Total Bond Market II Index Fund Institutional Shares VTBNX

Morningstar Medalist Rating
Medalist Rating as of | See Vanguard Investment Hub
  • NAV / 1-Day Return 9.10  /  +0.22 %
  • Total Assets 390.2B
  • Adj. Expense Ratio
    0.020%
  • Expense Ratio 0.020%
  • Distribution Fee Level Low
  • Share Class Type Institutional
  • Category Intermediate Core Bond
  • Credit Quality / Interest Rate Sensitivity High/Moderate
  • Min. Initial Investment 5M
  • Status Open
  • TTM Yield 4.30%
  • Effective Duration 5.73 years

USD | NAV as of Oct 02, 2026 | 1-Day Return as of Oct 02, 2026, 12:11 AM GMT+0

Morningstar’s Analysis VTBNX

Will VTBNX 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 VTBNX’s performance objective and investment process is for both security selection and portfolio construction.

  • People Pillar

    The People Pillar is our evaluation of the VTBNX 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 VTBNX’s parent organization’s priorities and whether they’re in line with investors’ interests.

Well-constructed portfolio of investment-grade bonds.

Analyst Lan Anh Tran

Lan Anh Tran

Analyst

Summary

Vanguard Total Bond Market’s expansive portfolio and razor-thin fee preserve its advantage in the intermediate core bond Morningstar Category.

by Lan Anh Tran
Rated on Published on

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Portfolio Holdings VTBNX

More VTBNX Holdings
  • Current Portfolio Date
  • Equity Holdings —
  • Bond Holdings —
  • Other Holdings —
  • % Assets in Top 10 Holdings 7.7
Top 10 Holdings
% Portfolio Weight
Market Value USD
Sector

Mktliq 12/31/2049

2.50 10B
Cash and Equivalents

United States Treasury Notes

2.05 8B
Government

United States Treasury Notes

1.61 6B
Government

United States Treasury Notes

1.06 4B
Government

United States Treasury Bonds

0.61 2B
Government

United States Treasury Notes

0.56 2B
Government

United States Treasury Notes

0.39 2B
Government

United States Treasury Notes

0.38 1B
Government

United States Treasury Notes

0.36 1B
Government

United States Treasury Notes

0.36 1B
Government

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