VCRM

Vanguard Core Tax-Exempt Bond ETF seeks to provide total return through current income that is exempt from federal personal income taxes and capital appreciation. Under normal circumstances, the fund will invest at least 80% of its assets (plus any borrowings for investment purposes) in municipal bonds denominated in U.S. dollars from a variety of issuers that are primarily U.S. states or local governments or agencies whose interest is exempt from federal income taxes and the federal alternative minimum tax (AMT).