Vanguard Multi-Sector Income Bond ETF (VGMS)

Vanguard Multi-Sector Income Bond ETF (VGMS) is an actively managed exchange-traded fund that seeks current income by investing across a broad range of fixed income sectors. Its holdings can include investment-grade and high-yield corporate bonds, securitized debt, emerging markets debt and government securities.

The managers allocate among these sectors based on their assessment of relative value and credit conditions, aiming to generate income while managing risk through diversification. This flexible approach lets the fund shift its emphasis as opportunities change across the bond market. The fund's interest rate sensitivity and credit exposure can therefore vary over time as allocations shift.

The fund is managed by The Vanguard Group's fixed income team.