Vanguard Target Maturity 2035 Corporate Bond ETF (VBCI)

Vanguard Target Maturity 2035 Corporate Bond ETF (VBCI) is a defined-maturity bond fund that invests in U.S. dollar-denominated, investment-grade corporate bonds scheduled to mature during 2035. It seeks to track an index made up of such bonds, combining the diversification of a fund with the fixed end date of an individual bond.

As its holdings mature through 2035, the proceeds are generally held in cash-like instruments, and the fund is scheduled to liquidate and distribute its net assets to shareholders around the end of that year. Over its life, its interest rate sensitivity declines as the maturity date approaches, similar to a single bond moving toward redemption.

The fund is part of Vanguard's series of target maturity corporate bond ETFs, each focused on a different calendar year, and is managed by The Vanguard Group of Malvern, Pennsylvania.