Morningstar® Investment Profile™   Morningstar®
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Vanguard Federal Money Market Investor  VMFXX
Release date as of 2024-03-31. Data on page is subject to change.
Snapshot Total Returns Ratings & Risk Portfolio Nuts & Bolts
  Morningstar Report
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What is this?
As of 2024-03-31
Total Fund Assets ($ Mil)
297,430.82
  Investment Objective & Strategy  
The investment seeks to provide current income while maintaining liquidity and a stable share price of $1.
The fund invests primarily in high-quality, short-term money market instruments. Under normal circumstances, at least 80% of the fund's assets are invested in securities issued by the U.S. government and its agencies and instrumentalities. The adviser maintains a dollar-weighted average maturity of 60 days or less and a dollar-weighted average life of 120 days or less. The fund generally invests 100% of its assets in U.S. government securities and therefore will satisfy the 99.5% requirement for designation as a government money market fund.
  Morningstar Category: Money Market-Taxable
These portfolios invest in short-term money market securities in order to provide a level of current income that is consistent with the preservation of capital. These funds do not designate themselves as Prime in Form N-MFP. 
  Performance
Growth of $10,000
(from 2014-01-01 to 2024-03-31)
Investment: Vanguard Federal Money Market Investor
Benchmark: USTREAS T-Bill Auction Ave 3 Mon
Category: Money Market-Taxable
This graph presents historical performance for the investment as well as an index and/or peer group. If the investment, index and/or peer group have performed similarly, the line representing the fund will overlay the index and/or peer group. Therefore, the line(s) representing the index and/or peer group history may be hidden.
Total Annualized Returns %
YTD 1 Year 3 Year 5 Year 10 Year Since Inception
Investment 1.32 5.32 2.64 1.98 1.34 3.91
USTREAS T-Bill Auction Ave 3 Mon 1.37 5.57 2.97 2.16 1.48 3.93
Category 1.22 4.94 2.41 1.76 1.14 3.53
Investment results shown represent historical performance and do not guarantee future results. Investment returns and principal values fluctuate with changes in interest rates and other market conditions so the value, when redeemed may be worth more or less than original costs. Current performance may be lower or higher than the performance data shown.
Fees and Expenses
Total Annual Operating Expense 0.11%
Prospectus Net Expense Ratio 0.11%
Maximum Sales Charge ---
The total annual operating expense shown is before management fee waivers or expense caps. For more information on waivers/reimbursements, please see the prospectus. The total annual operating expense is also referred to as the prospectus gross expense ratio.
Waiver Data
Type Date %
--- --- --- ---

Money Market Fund Disclosure
Government Money Market Funds that have chosen not to rely on the ability to impose liquidity fees and suspend redemptions:
You could lose money by investing in the fund. Although the fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so. An investment in the fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The fund’s sponsor has no legal obligation to provide financial support to the fund, and you should not expect that the sponsor will provide financial support to the fund at any time.
Liquidity Fee: No
Redemption Gate: No
  Portfolio Profile
Asset Allocation
% of Net Assets
Bullet U.S. Stocks U.S. Stocks 0
Bullet Non-U.S. Stocks Non-U.S. Stocks 0
Bullet Bonds Bonds 0
Bullet Cash Cash 100
Bullet Other Other 0
Asset Allocation Rescaled Graph
Data through 2024-03-31
Yield
7-Day Yield % 5.28
  Principal Risks   
Credit and Counterparty, Loss of Money, Not FDIC Insured, Income, Market/Market Volatility, Suitability, Management, Money Market
Show Risk Definitions
  Other Information
Inception Date: 1981-07-13
Portfolio Manager(s)
John C. Lanius   (2007-12-31)
John C. Lanius, Portfolio Manager at Vanguard. He has been with Vanguard since 1996, has worked in investment management since 1997, has managed investment portfolios since 2004, and has managed the Money Market Portfolio since 2006. Education: B.A., Middlebury College.
Investment Advisor(s)
Vanguard Group Inc
Issuer
Vanguard
Show Data Definitions

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Past performance is no guarantee of future results.
Returns will vary and shares may be worth more or less than their original cost when sold.