Key stats
About Vanguard Tax-Managed Funds Vanguard Core Tax-Exempt Bond ETF
Home page
Inception date
Nov 21, 2024
Structure
Open-Ended Fund
Replication method
Physical
Dividend treatment
Distributes
Distribution tax treatment
Ordinary income
Income tax type
Capital Gains
Max ST capital gains rate
39.60%
Max LT capital gains rate
20.00%
Primary advisor
The Vanguard Group, Inc.
Distributor
Vanguard Marketing Corp.
VCRM is an actively managed ETF that seeks total return through tax-exempt income and capital growth. It primarily invests in US dollar-denominated municipal bonds issued by US states or local agencies. Interest is exempt from federal income taxes and alternative minimum tax (AMT). The fund does not have maturity limitations on individual securities, but it typically maintains a dollar-weighted average maturity of 8 to 20 years. The majority of assets are invested in investment-grade bonds, rated A3 or better by Moody's or equivalent. Investments in junk bonds are limited to 20% of assets. The fund follows a portfolio manager-driven process, incorporating top-down and bottom-up insights. As a fundamental policy, at least 80% of assets are invested in tax-exempt securities under normal market conditions.
Classification
Returns
| 1 month | 3 months | Year to date | 1 year | 3 years | 5 years | |
|---|---|---|---|---|---|---|
| Price performance | — | — | — | — | — | — |
| NAV total return | — | — | — | — | — | — |
What's in the fund
Exposure type
Municipal
Bonds, Cash & Other100.00%
Municipal98.66%
Mutual fund2.28%
Securitized0.43%
Futures−0.51%
Cash−0.86%
Top 10 holdings
Symbol
Assets
Symbol
Assets
M
MUTUAL FUND (OTHER)
2.28%
G
Grand Rapids Mich 5.0% 01-APR-2050
0.74%
M
Massachusetts St Dev Fin Agy Rev VAR 15-AUG-2055
0.72%
B
Black Belt Energy Gas Dist Ala Gas Prepay Rev VAR 01-DEC-2049
0.61%
L
Los Angeles Calif Dept Wtr & Pwr Rev 5.0% 01-JUL-2028
0.59%
L
Liberty Hill Tex Indpt Sch Dist 5.0% 01-FEB-2058
0.56%
S
South Carolina St Hsg Fin & Dev Auth Mtg Rev 5.0% 01-JAN-2055
0.54%
N
New York N Y City Transitional Fin Auth Rev 5.0% 01-NOV-2034
0.49%
C
California Infrastructure & Economic Dev Bk Rev 4.5% 15-MAY-2055
0.49%
C
California Cmnty Choice Fing Auth Clean Energy Proj Rev VAR 01-OCT-2054
0.47%
Top 10 weight7.48%
1080 total holdings
Dividends
Dividend payout history
Assets under management (AUM)
Fund Flows
Frequently Asked Questions
VCRM invests in bonds. The fund's major sectors are Municipal, with 98.66% stocks, and Securitized, with 0.43% of the basket. The assets are mostly located in the N/A region.
VCRM last dividends amounted to 0.22 USD. The month before, the issuer paid 0.18 USD in dividends, which shows a 16.76% increase.
VCRM assets under management is 277.32 M USD. It's risen 17.18% over the last month.
VCRM fund flows account for 241.00 M USD (1 year). Many traders use this metric to get insight into investors' sentiment and evaluate whether it's time to buy or sell the fund.
Yes, VCRM pays dividends to its holders with the dividend yield of 3.54%. The last dividend (Jun 4, 2025) amounted to 0.22 USD. The dividends are paid monthly.
VCRM shares are issued by The Vanguard Group, Inc. under the brand Vanguard. The ETF was launched on Nov 21, 2024, and its management style is Active.
VCRM expense ratio is 0.12% meaning you'd have to pay 0.12% of your investment to help manage the fund.
VCRM follows the No Underlying Index. ETFs usually track some benchmark seeking to replicate its performance and guide asset selection and objectives.
VCRM invests in bonds.
VCRM price has fallen by −0.90% over the last month, and its yearly performance shows a −3.24% decrease. See more dynamics on VCRM price chart.
NAV returns, another gauge of an ETF dynamics, have fallen by −0.32% over the last month, showed a −1.85% decrease in three-month performance and has decreased by −0.85% in a year.
NAV returns, another gauge of an ETF dynamics, have fallen by −0.32% over the last month, showed a −1.85% decrease in three-month performance and has decreased by −0.85% in a year.
VCRM trades at a premium (0.11%) meaning the ETF is trading at a higher price than the calculated NAV.