Vanguard Intermediate-Term Tax-Exempt Fund Investor Shares (VWITX)
Vanguard Intermediate-Term Tax-Exempt Fund Investor Shares operates in the Asset Management industry of the Financial Services sector, headquartered in Malvern, PA, US. The stock last traded at $13.63, up 0.07% on the session, giving a market capitalisation of $90.34B. On trailing twelve-month figures it carries a trailing P/E of 30.98, a net margin of 78.4%. Its beta of 0.83 implies it has historically moved less than the broad market.
This fund aims to deliver a steady and moderate stream of current income, free from federal personal income taxes. Although it has no constraints on the maturity of individual securities, the portfolio's dollar-weighted average maturity is anticipated to fall within a 6-to-12-year range. A significant portion of its assets—at least 75%—consists of municipal bonds rated within the top three credit categories by an official rating organization, or considered to be of comparable quality by the advisor. Up to 20% of the fund's holdings may be in medium-grade bonds, as determined by a rating agency or the advisor, with the remaining 5% potentially invested in lower-rated or similarly qualified securities. A primary risk involves interest rate fluctuations, which can negatively impact bond values or lead to reduced income for the fund. This offering is well-suited for investors seeking federal tax-exempt interest income who are comfortable with moderate variations in both price and income. It is crucial to understand that this Vanguard fund is a standalone product, distinct from the Vanguard Intermediate-Term Tax-Exempt Bond ETF (VTEI), and differences in scale, investment processes, and underlying assets are expected to result in varied investment returns between the two.
Vanguard Intermediate-Term Tax-Exempt Fund Investor Shares is most often compared with the following Financial Services names: