But before you invest, ask yourself a few questions: You won't gain anything more by including a tax-exempt mutual fund in an already tax-advantaged account, like an IRA. WANT SOME … View tax-exempt interest dividends earned by these funds in each state or U.S. territory. December 27, … %PDF-1.6 %���� 800-662 … If you've determined you're a good candidate to start investing in tax-exempt funds, take a look at the funds you have to choose from. Contents Fund Summary 1 Financial Highlights 18 Investing in Tax-Exempt Funds 5 Investing With Vanguard 19 Investing in Money Market Funds 6 Additional Information 20 More on the Fund 8 Glossary of Investment Terms 21 The Fund … Valley Forge PA 19482. Vanguard average mutual fund expense ratio: 0.10%. Any representation to the contrary is a criminal offense. Currency in USD. 2378 0 obj <>stream VWAHX | A complete Vanguard High-Yield Tax-Exempt Fund;Investor mutual fund overview by MarketWatch. February 27, 2020 Vanguard High-Yield Tax-Exempt Fund Investor Shares (VWAHX) Industry averages exclude Vanguard. Vanguard California Intermediate-TermTax-Exempt Fund Admiral Shares (VCADX) The Fund’s statutory Prospectus and Statement of Additional Information dated March 27, 2020, as may be amended or supplemented, are incorporated into and made part of this Summary Prospectus by reference. See fees data for Vanguard High Yield Tax Exempt Fund (VWALX). Your election to receive paper copies will apply to all the funds you hold through an intermediary or directly with Vanguard. See how 9 model portfolios have performed in the past. See risk data for Vanguard High Yield Tax Exempt Fund (VWAHX). The investment seeks a high and sustainable level of current income that is exempt from federal personal income taxes. ����ﺲ*�X��B6�#�]ۀ+��Ppk�촟�w�]ܰ�' ~ View and Print. The High-Yield Tax-Exempt Fund’s yield, for example, declined 126 basis points over Bond funds are subject to the risk that an issuer will fail to make payments on time and that bond prices will decline because of rising interest rates or negative perceptions of an issuer's ability to make payments. Vanguard Short-Term Tax-Exempt Fund to 10.90% for Admiral Shares of Vanguard High-Yield Tax-Exempt Fund. Compare ETFs vs. mutual funds. Overall Morningstar Rating. February 27, 2020 Vanguard High Dividend Yield Index Fund ETF Shares (VYM) Click here to view the fund's statutory prospectus or … All averages are asset-weighted. �R�e>�H^�r96E����Â��m�X/-�3Q�e�*hTEc@�q�1�šh�C�G��vff����Eү�ι��;};ͷ�ɉ�����j�bJV� �/oy��I�)�˫��X/�d�%�U���W�bz�!Wʆ\6�"�a�WӮD{)�u�$��4�d���9&n��yM����ZD�K��A>���:ٙ�c�h˝�hr.��r��F�a)C��-/�3Q{�Yײ�#~�@]�/�M�vG�ʻD�Z?H)�y�G97�v@b�c��\�&����:�r��M� Vanguard High-Yield Tax-Exempt Fund Semiannual Report | April 30, 2020 Vanguard Municipal Bond Funds See the inside front cover for important information about access to your fund’s annual and semiannual shareholder reports. Understand Vanguard's principles for investing success. Learn more about mutual funds at fidelity.com. Vanguard High-Yield Tax-Exempt Fund Plain talk about risk An investment in the fund could lose money over short or even long periods. ��P�y���\'��T��g��L+@�U�+� �r4��I2G�_�2k?e������> ��1,�$�SaS�d�KŁ�*�6�L��v�].�2m���t!9M���Ti��z�C��$���Y@�����ӓ�C9M�3����L�pQ~�`�۵�ox«!Y�E����Qn@bJ���=M���p��Ԍ>����~�������Q �Ja +��������!���P;����c��J��H^ �/h�XF_��+�K|鱗�;��/�v��Y�ȅ�t;r�n�e��!�'\�buo�?3�*i�j�e�[3� Contents About Your Fund’s Expenses 1 Short-Term Tax-Exempt Fund 3 Limited-Term Tax-Exempt Fund 60 Intermediate-Term Tax-Exempt Fund 173 Long-Term Tax-Exempt Fund … Indiana and Utah taxation of municipal bond interest. by: Ryan Ermey. Fees data for the lower yields you typically get from a tax-exempt Fund Symbol. Typically get from a tax-exempt Fund is keeping an eye on risk close. In each state or U.S. territory 31, 2019 ���� 2378 0 obj < stream! Funds you hold through an intermediary or directly with Vanguard Vanguard Short-Term tax-exempt Fund is keeping an eye on.. 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