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Vanguard VIF High Yield Bond
Release date as of 2024-10-31. Data on page is subject to change.
Snapshot Ratings & Risk Portfolio Nuts & Bolts
  Morningstar Report
Overall Morningstar
Rating™
What is this?
As of 2024-10-31
Out of 588
High Yield Bond Funds
Morningstar®
Style Box™
What is this?
As of 2024-09-30
Total Fund Assets ($ Mil)
768.91
View Historical Morningstar Star Ratings and Definitions
  Investment Objective & Strategy  
The investment seeks to provide a high level of current income.
The fund invests primarily in a diversified group of high-yielding, higher-risk corporate bonds-commonly known as "junk bonds"-with medium- and lower-range credit-quality ratings. It invests at least 80% of its assets in corporate bonds that are rated below Baa. The fund may not invest more than 20% of its assets in any of the following, in the aggregate: bonds with credit ratings lower than B or the equivalent, convertible securities, preferred stocks, and fixed and floating rate loans of medium- to lower-range credit quality.
  Morningstar Category: High Yield Bond
High-yield bond portfolios concentrate on lower-quality bonds, which are riskier than those of higher-quality companies. These portfolios generally offer higher yields than other types of portfolios, but they are also more vulnerable to economic and credit risk. These portfolios primarily invest in U.S. high-income debt securities where at least 65% or more of bond assets are not rated or are rated by a major agency such as Standard & Poor's or Moody's at the level of BB (considered speculative for taxable bonds) and below. 
  Investment Risks
High-Yield Bond Funds: Funds that invest in lower-rated debt securities (commonly referred to as junk bonds) involve additional risk because of the lower credit quality of the securities in the portfolio. There are risks associated with the possibility of a higher level of volatility and increased risk of default.
  Portfolio Profile
Asset Allocation
% of Net Assets
Bullet U.S. Stocks U.S. Stocks 0.0
Bullet Non-U.S. Stocks Non-U.S. Stocks 0.0
Bullet Bonds Bonds 95.3
Bullet Cash Cash 4.7
Bullet Other Other 0.0
Asset Allocation Rescaled Graph
Data through 2024-09-30
Morningstar Fixed-Income Sectors
% Fund
Government 4.56
Corporate 91.29
Securitized 0.05
Municipal 0.00
Cash & Equivalents 4.10
Derivative 0.00
Data through 2024-09-30
Credit Analysis
% Bonds
AAA 3.96
AA 1.85
A 0.05
BBB 3.73
BB 52.21
B 32.01
Below B 4.86
Not Rated 1.33
Data through 2024-09-30
Credit Analysis Graph
Holding Status
Total Number of Stock Holdings 0
Total Number of Bond Holdings 884
% of Net Assets in Top 10 Holdings 5.66
Turnover % (as of 2023-12-31) 43.00
30 Day SEC Yield % 5.90
Top Holdings
Maturity
Date 		Shares
 Value
$000 		% of Net
Assets
Imola Merger Corp. --- 6,075 5,929 0.77
United States Treasury Notes --- 5,250 5,133 0.66
United States Treasury Bills --- 4,860 4,850 0.63
United States Treasury Notes --- 5,075 4,847 0.63
Frontier Communications Parent Inc --- 4,150 4,114 0.53
Herc Holdings Inc --- 4,036 4,032 0.52
SS&C Technologies, Inc. --- 4,020 4,020 0.52
1011778 B.C. Unlimited Liability Company / New Red Finance, Inc. --- 3,940 3,633 0.47
Boyd Gaming Corporation --- 3,660 3,625 0.47
Medline Borrower LP --- 3,765 3,564 0.46
Data through 2024-09-30
  Principal Risks   
Credit and Counterparty, Extension, Prepayment (Call), Loss of Money, Not FDIC Insured, Income, Interest Rate, Market/Market Volatility, High-Yield Securities, Restricted/Illiquid Securities, Management
Show Risk Definitions
  Other Information
Inception Date: 1996-06-03
Portfolio Manager(s)
Michael Chang   (2022-08-29)
Michael Chang, CFA, Portfolio Manager at Vanguard. He has been with Vanguard since 2017, has worked in investment management since 2002, has managed investment portfolios since 2011, and has co-managed the Fund since its inception in 2021. Education: B. Com., University of British Columbia
Elizabeth H. Shortsleeve   (2022-08-29)
Elizabeth H. Shortsleeve, Senior Managing Director, Partner, and Fixed Income Portfolio Manager of Wellington Management. She has worked in investment management since 2007, and has co-managed the Portfolio since 2022. Education: B.A., Georgetown University; M.B.A., Dartmouth College.
Investment Advisor(s)
Wellington Management Company LLP
The Vanguard Group Inc
Issuer
Vanguard
Subadvisor(s)
---
Show Data Definitions

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