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Morningstar

Vanguard High-Yield Corporate Adm VWEAX

Morningstar Analyst Rating
Analyst rating as of
  • NAV / 1-Day Return 5.31  /  0.05 %
  • Total Assets 22.8 Bil
  • Adj. Expense Ratio
    0.130%
  • Expense Ratio 0.130%
  • Distribution Fee Level Low
  • Share Class Type Institutional
  • Category High Yield Bond
  • Credit Quality / Interest Rate Sensitivity Low / Limited
  • Min. Initial Investment 50,000
  • Status Open
  • TTM Yield 5.21%
  • Effective Duration 4.08 years

USD | NAV as of Jan 27, 2023 | 1-Day Return as of Jan 27, 2023, 11:16 PM GMT+00:00

Morningstar’s Analysis VWEAX

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

People Pillar

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

Most of the assets here remain in proven hands.

Senior Analyst

Summary

| by Mike Mulach

Wellington Management is no longer Vanguard High-Yield Corporate’s sole subadvisor, but it remains the anchor with two thirds of assets here, offsetting questions about the recent appointment of Vanguard’s unproven, in-house high-yield team. Add in rock-bottom fees and the strategy still merits a Morningstar Analyst Rating of Gold on both share classes.

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