Vanguard Ohio Long-Term Tax-Exempt Fund (VOHIX)
Vanguard Ohio Long-Term Tax-Exempt Fund operates in the Asset Management industry of the Financial Services sector, headquartered in Malvern, PA, US. The stock last traded at $10.97, down 0.45% on the session, giving a market capitalisation of $1.50B. Its beta of 1.20 implies it has historically moved more than the broad market.
This Vanguard fund is designed to generate current income that is exempt from both federal and Ohio state personal income taxes. It is exclusively for residents of Ohio. To achieve this, the fund primarily invests in high-quality municipal bonds issued by various Ohio entities, including state and local governments, regional authorities, and public financing bodies. Under normal market conditions, at least 80% of its assets will be allocated to securities providing these federal and Ohio tax exemptions. While there are no restrictions on the maturities of individual bonds it holds, the fund's portfolio targets a dollar-weighted average maturity of 10 to 25 years. This low-cost municipal bond fund is particularly appealing to Ohio residents in higher tax brackets seeking both federal and state tax-exempt income. With an average duration of approximately 6-10 years, the fund's share price is considerably more sensitive to fluctuations in interest rates compared to funds holding shorter-term bonds. Therefore, it is best suited for investors who prioritize tax-free income at both federal and Ohio levels and are comfortable with the inherent interest rate risk associated with long-term bonds.
Vanguard Ohio Long-Term Tax-Exempt Fund is most often compared with the following Financial Services names: