Morningstar

Vanguard Ultra-Short-Term Bond Fund Admiral Shares VUSFX

Morningstar Medalist Rating
Unlock
Medalist Rating as of See Vanguard Investment Hub
  • NAV / 1-Day Return$19.90  /  −0.05%
  • Fund Size$16.1B
  • Adjusted Expense Ratio0.090%
  • Net Expense Ratio0.090%
  • Fee Level: DistributionLow
  • Share Class TypeInstitutional
  • Morningstar CategoryUltrashort Bond
  • Fixed-Income Style Box (Funds)Medium/Limited
  • Minimum Initial Investment$50,000
  • Investment StatusOpen
  • TTM Yield4.04%
  • Average Effective Duration0.92 yrs
NAV and 1-Day Return as of

Morningstar’s Analysis VUSFX

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

  • People Pillar

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

A solid ultrashort-bond option at a great price.

Analyst Ken Noguchi

Ken Noguchi

Analyst

Summary

Vanguard Ultra-Short Bond ETF benefits from its managers’ complementary expertise and Vanguard’s deep fixed-income capabilities, though its straightforward approach has yet to meaningfully distinguish it from rivals.

by Ken Noguchi
Rated on Published on

Unlock our full analysis with Morningstar Investor

Portfolio Holdings VUSFX

More VUSFX Holdings
  • Current Portfolio Date
  • Equity Holdings—
  • Bond Holdings—
  • Other Holdings—
  • % Assets in Top 10 Holdings9.5
Top 10 Holdings
% Portfolio Weight
Market Value USD
Sector

Mktliq 12/31/2049

3.13521M
Cash and Equivalents

Us Dollar

2.72451M
Cash and Equivalents

United States Treasury Bills

2.49414M
Government

TREASURY BILL

2.44406M
Government

British Columbia (Province Of)

0.75125M
Government

U.S. Bank National Association

0.74122M
Corporate

Charles Schwab Corp. (The)

0.63105M
Corporate

AT&T Inc

0.5693M
Corporate

Bank of Montreal

0.5184M
Corporate

NTT Finance Corp

0.4982M
Corporate

Sponsor Center

Site Index
United States Flag United States

© Copyright 2026 Morningstar, Inc. All rights reserved. Dow Jones Industrial Average, S&P 500, Nasdaq, and Morningstar Index (Market Barometer) quotes are real-time.