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Name

As of 11/06/2026

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

Vanguard Long-Term Tax-Exempt Fund

VWLUX | Fund

$10.60

$17.9 B

4.03%

$0.43

0.09%

Vitals

YTD Return

1.3%

1 yr return

1.3%

3 Yr Avg Return

4.9%

5 Yr Avg Return

0.8%

Net Assets

$17.9 B

Holdings in Top 10

6.5%

52 WEEK LOW AND HIGH

$10.6
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.09%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 14.00%

Redemption Fee N/A

Min Investment

Standard (Taxable)

$50,000

IRA

N/A

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 11/06/2026

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

Vanguard Long-Term Tax-Exempt Fund

VWLUX | Fund

$10.60

$17.9 B

4.03%

$0.43

0.09%

VWLUX - Profile

Distributions

  • YTD Total Return 1.3%
  • 3 Yr Annualized Total Return 4.9%
  • 5 Yr Annualized Total Return 0.8%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 2.65%
DIVIDENDS
  • Dividend Yield 4.0%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Vanguard Long-Term Tax-Exempt Fund
  • Fund Family Name
    Vanguard
  • Inception Date
    Feb 20, 2001
  • Shares Outstanding
    N/A
  • Share Class
    Admiral
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Mathew Kiselak

Fund Description

The Fund employs an active management approach, investing mainly in state and local municipal bonds. As a matter of fundamental policy, under normal circumstances, the Fund invests at least 80% of its net assets, plus the amount of any borrowings for investment purposes,in securities whose income is exempt from federal income tax. The Fund expects to maintain a dollar-weighted average maturity of 10 to 25 years, but has no limitations on the maturities of individual securities.The Fund typically invests at least 75% of its assets in municipal bonds in one of the top three credit rating categories as determined by a nationally recognized statistical rating organization (e.g., Aaa, Aa, or A by Moody’s) or, if unrated, determined to be of comparable quality by the Fund’s advisor. The Fund may invest up to 20% of its assets in medium-quality municipal bonds (e.g., Baa by Moody’s) and 5% of its assets in securities with lower credit ratings, also as determined by a nationally recognized statistical rating organization or, if unrated, determined to be of comparable quality by the Fund’s advisor.
Read More

VWLUX - Performance

Return Ranking - Trailing

Period VWLUX Return Category Return Low Category Return High Rank in Category (%)
YTD 1.3% -4.9% 17.0% 21.31%
1 Yr 1.3% -8.9% 22.1% 44.82%
3 Yr 4.9%* 1.4% 17.0% 6.86%
5 Yr 0.8%* -4.2% 4.1% 31.58%
10 Yr 2.3%* -0.3% 250.6% 8.20%

* Annualized

Return Ranking - Calendar

Period VWLUX Return Category Return Low Category Return High Rank in Category (%)
2025 0.1% -26.4% 12.1% 56.57%
2024 -1.5% -5.5% 34.9% 75.91%
2023 4.2% -1.4% 41.0% 10.53%
2022 -12.9% -39.7% 0.3% 67.90%
2021 -0.8% -5.6% 55.0% 68.95%

Total Return Ranking - Trailing

Period VWLUX Return Category Return Low Category Return High Rank in Category (%)
YTD 1.3% -4.9% 17.0% 21.31%
1 Yr 1.3% -8.9% 22.1% 44.82%
3 Yr 4.9%* 1.4% 17.0% 6.86%
5 Yr 0.8%* -4.2% 4.1% 31.58%
10 Yr 2.3%* -0.3% 250.6% 8.20%

* Annualized

Total Return Ranking - Calendar

Period VWLUX Return Category Return Low Category Return High Rank in Category (%)
2025 4.2% -2.1% 17.0% 31.82%
2024 2.2% -1.8% 34.9% 49.20%
2023 7.9% 2.1% 41.0% 10.24%
2022 -10.2% -39.7% 1.1% 58.36%
2021 2.6% -4.8% 23761504.0% 30.23%

NAV & Total Return History

VWLUX - Holdings

Concentration Analysis

VWLUX Category Low Category High VWLUX % Rank
Net Assets 17.9 B 3.64 M 83.5 B 1.46%
Number of Holdings 4240 7 16507 1.97%
Net Assets in Top 10 1.24 B -317 M 4.58 B 1.31%
Weighting of Top 10 6.49% 1.0% 122.8% 93.20%

Top 10 Holdings

  1. Vanguard Municipal Cash Management Fund 4.20%
  2. RESTRUCTURED-SER A-2 0.33%
  3. BLACK BELT ENERGY-C 0.28%
  4. CA CMNTY CHOICE-D 0.27%
  5. TRIBOROUGH BRIDGE-A-1 0.25%
  6. SALT RIVER PROJ-C 0.25%
  7. NYC TRANSIT FIN-F-1 0.24%
  8. CHICAGO BRD EDU-A 0.24%
  9. NC MEDICAL CARE-A-1 0.22%
  10. BLACK BELT-SER-C 0.21%

Asset Allocation

Weighting Return Low Return High VWLUX % Rank
Bonds 		95.63% 0.00% 141.18% 91.24%
Cash 		4.37% -41.18% 36.11% 8.32%
Other 		0.00% -1.59% 50.26% 12.70%
Stocks 		0.00% 0.00% 100.01% 74.67%
Preferred Stocks 		0.00% 0.00% 0.15% 71.02%
Convertible Bonds 		0.00% 0.00% 0.93% 70.67%

Bond Sector Breakdown

Weighting Return Low Return High VWLUX % Rank
Municipal 		97.95% 44.39% 100.00% 55.57%
Cash & Equivalents 		4.20% 0.00% 35.75% 5.40%
Derivative 		0.00% -0.34% 45.80% 9.20%
Securitized 		0.00% 0.00% 5.93% 70.82%
Corporate 		0.00% 0.00% 9.41% 76.98%
Government 		0.00% 0.00% 52.02% 73.02%

Bond Geographic Breakdown

Weighting Return Low Return High VWLUX % Rank
US 		95.63% 0.00% 138.87% 88.47%
Non US 		0.00% 0.00% 13.93% 74.01%

VWLUX - Expenses

Operational Fees

VWLUX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.09% 0.03% 4.82% 99.05%
Management Fee 0.08% 0.00% 1.20% 2.26%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee 0.08% 0.01% 0.44% 26.28%

Sales Fees

VWLUX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.50% 4.75% N/A
Deferred Load N/A 0.25% 5.00% N/A

Trading Fees

VWLUX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 1.00% N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

VWLUX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 14.00% 0.00% 283.00% 39.05%

VWLUX - Distributions

Dividend Yield Analysis

VWLUX Category Low Category High VWLUX % Rank
Dividend Yield 4.03% 0.00% 14.51% 19.34%

Dividend Distribution Analysis

VWLUX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Monthly Monthly Monthly

Net Income Ratio Analysis

VWLUX Category Low Category High VWLUX % Rank
Net Income Ratio 2.65% -0.53% 5.32% 16.00%

Capital Gain Distribution Analysis

VWLUX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually Annually

Distributions History

View More +

VWLUX - Fund Manager Analysis

Managers

Mathew Kiselak

Start Date

Tenure

Tenure Rank

Jul 16, 2010

11.88

11.9%

Mathew M. Kiselak, Principal of Vanguard. He has worked in investment management since 1987, has managed investment portfolios since 1990, and has been with Vanguard since 2010. Education: B.S., Pace University.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 35.05 7.22 1.58

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