VTMFX – Vanguard Tax-Managed Balanced Adm Investment Strategy | Morningstar

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Strategy

The investment seeks to provide a tax-efficient return consisting of federally tax-exempt income, long-term capital appreciation, and a modest amount of taxable current income. The fund invests in both fixed income securities and equity securities. The fund invests at least 75% of its fixed income assets in municipal bonds rated in one of the top three credit-rating categories as determined by an independent bond-rating agency (e.g. Aaa, Aa, and A by Moody’s) or, if unrated, determined to be of comparable quality by the advisor.

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
VTMFX	Vanguard Tax-Managed Balanced Fund Admiral Shares	Institutional	Open			Sep 6, 1994	$12.33B	0.050%	Low	$10,000	$159.05M

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