Fixed income

A longer-term perspective

Vanguard fixed income: an overview

Our approach to fixed income centres on delivering value to investors, whether it’s by tracking an index or generating long-term alpha.

Watch our video to learn more about fixed income at Vanguard.

Fixed income at Vanguard

At Vanguard, our mission to give investors the best chance of investment success is what sets us apart. We have the scale, experience and expertise to deliver value to investors through research-drivien bond selection and a long-term approach focused on time-tested performance.

Our specialist, global team of researchers, portfolio managers and traders collaborate to provide high-quality fixed income funds covering the key parts of the bond market that investors can depend on regardless of management style, region or market segment.


years’ experience


trillion AUM1



A consistent approach

Vanguard has been managing fixed income portfolios for over 35 years. Today, we’re one of the largest bond managers in the world, with over $1.8 trillion in fixed income assets under management globally. From the start, we’ve been driven by an uncompromising commitment to consistency, which is why Vanguard investors should know exactly what to expect from our funds.

For our bond index funds and ETFs, that means broadly diversified beta exposures that offer the right balance between tracking efficiency, cost and risk management. And for our active fixed income funds, that means true-to-label products that derive alpha from genuine, bottom-up security selection across diversified sources, without taking excessive top-down directional risk.

Breadth, depth and scale

fixed income

We meet our investors’ diverse risk and return requirements with our capabilities spanning active and index funds across the fixed income universe, from government bonds to corporate and emerging market debt.

We have one of the largest fixed income teams in the world, with over 190 fixed income professionals, including more than 50 global credit research analysts.

Our scale helps us keep costs low and deliver bond funds investors can rely on.

Global investment platform

Our approach is consistent, regardless of location. Our global investment platform gives us 24-hour market access and allows our investors to benefit from our local expertise.

Trading desks in the US, the UK and Australia allow Vanguard to ‘pass the book’ globally as needed, allowing regional experts to make timely decisions locally.

Our trading and portfolio management functions are integrated into one holistic team, enabling enhanced trading value. Credit analysts and traders are all sector- and country-focused specialists.

fixed income

Unparalleled credit research

fixed income

Our fixed income group draws on a dedicated team of 50+ credit research analysts, each responsible for covering up to 60 issuers in their specialist sectors.

As one of the world’s largest asset managers, we enjoy excellent access to the company management of corporate bond issuers and have a deep understanding of the issuer landscape.

A sustainable approach

Our fixed income product range

Gain low-cost access to talented investment teams
Build a low-cost core to your portfolio
Discover liquid, versatile access to the core markets

1 Source: Vanguard as at 31 December 2021.

2 The percentage of Vanguard funds globally in each category that outperformed the average return of their peer group of mutual funds. For the five-year period, 44 of 48 bond funds Vanguard funds outperformed their peer group averages. For the ten-year period, 38 of 44 bond funds Vanguard funds outperformed their peer group averages. Results will vary for other time periods. Only funds with a minimum five-, or ten-year history, respectively, were included in the comparison. Source: Lipper, a Thomson Reuters Company. Data as at 30 December 2020.

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We are committed to helping our clients bring value to investors.

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Important risk information:

The value of investments, and the income from them, may fall or rise and investors may get back less than they invested.

ETF shares can be bought or sold only through a broker. Investing in ETFs entails stockbroker commission and a bid- offer spread which should be considered fully before investing.

For further information on the funds’ investment policies and risks, please refer to the prospectus of the UCITS and to the KID before making any final investment decisions. The KID for these funds  are available in local languages, alongside the prospectus via Vanguard’s website.