The Fund employs a “passive management” – or indexing – investment approach, through physical acquisition of securities, designed to track the performance of the Bloomberg MSCI Global Corporate Float-Adjusted Liquid Bond Screened Index (the “Index”).
The Index is constructed from the Bloomberg Global Aggregate Float Adjusted Corporate Index (the “Parent Index”) which represents a multi-currency universe of investment grade corporate fixed-rate bonds from both developed and emerging markets issuers, which is then screened for certain environmental, social, and corporate governance criteria by the sponsor of the Index, which is independent of Vanguard.
The Fund promotes environmental and social characteristics by excluding fixed income securities from its portfolio based on the impact of the issuer’s conduct or products on society and / or the environment. This is met by tracking the Index.
The Index excludes the bonds of issuers that MSCI, the Index provider’s data source, determines engage in activities in, and/or derive revenue (above a threshold specified by the Index provider) from, certain business segments of the following: adult entertainment, alcohol, gambling, tobacco, nuclear weapons, controversial weapons, conventional weapons, civilian firearms, nuclear power, or thermal coal, oil, or gas.
The Index methodology also excludes the bonds of issuers that, as determined by MSCI, have no controversy score or a controversy score of less than one as defined by MSCI’s ESG controversies assessment framework.
Where MSCI has insufficient or no data available to adequately assess a particular issuer relative to the ESG criteria of the Index, bonds of such issuer may be excluded from the Index until such time as they may be determined to be eligible by MSCI.
In circumstances where the Fund holds securities which do not comply with the ESG requirements of the Index (including in circumstances where MSCI receives further data allowing it to determine that an issuer of a security does not meet the relevant ESG criteria of the Index), the Fund may hold such securities until such time as the relevant securities cease to form part of the Index and it is possible and practicable (in the Investment Manager’s view) to liquidate the position.
Company product and conduct involvement is monitored on a yearly basis by the Index provider and as new data is made available to the Index provider.
In this regard, the Index is consistent with the characteristics promoted by the Fund.
Fund facts
Share class inception
20 May 2021
Listing date
25 May 2021
Investment structure
Irish UCITS
Share Class Assets'
Total Assets
Risk indicator
Strategy
Index
Asset Class
Bond
Domicile
Ireland
Investment method
Physical
Index ticker
H35936EU
Dividend schedule
—
Benchmark
Bloomberg MSCI Global Corporate Float-Adjusted Liquid Bond Screened Index in EUR
Legal entity
Vanguard Funds PLC
Register countries
Austria, Switzerland, Germany, Denmark, Spain, Finland, France, United Kingdom, Guernsey, Ireland, Isle of Man, Italy, Jersey, Liechtenstein, Luxembourg, Netherlands, Norway, Portugal and Sweden
The value of investments, and the income from them, may fall or rise and investors may get back less than they invested.
Sustainability-related disclosures
This product promotes, among other characteristics, environmental or social characteristics, or a combination of those characteristics as specified under Article 8 of the EU SFDR.
Refer to the “Sustainability-related disclosures” document at the top of the webpage for the detailed disclosures in accordance with SFDR.
Performance
Total Returns
-
Risk and Volatility
As at 30 Apr 2023
Beta
—
R²
—
Annualized Tracking Error
1 year
3 years
—
5 years
—
Please note Beta and R-squared data will only display for funds with 3 full years of history.
The value of investments, and the income from them, may fall or rise and investors may get back less than they invested.
Portfolio data
Characteristics
As at 30 Apr 2023
Fundamentals
Fund
Benchmark
Number of bonds
3,918
—
—
4.7%
3.2%
3.1%
8.1 Years
8.2 Years
A-
A-
5.9 Years
5.9 Years
Cash Investment
1.3%
—
Market allocation
As at 30 Apr 2023
Country
Region
Fund
Benchmark
Variance +/-
United States of America
North America
55.9%
56.3%
-0.4%
United Kingdom
Europe
8.8%
8.6%
0.2%
France
Europe
7.3%
7.4%
-0.1%
Canada
North America
4.7%
4.9%
-0.2%
Germany
Europe
4.4%
4.7%
-0.3%
Netherlands
Europe
3.0%
2.9%
0.1%
Japan
Pacific
2.9%
3.0%
-0.1%
Spain
Europe
2.3%
2.5%
-0.2%
Switzerland
Europe
2.1%
2.1%
0.0%
Australia
Pacific
1.3%
1.4%
-0.1%
Other
Other
1.3%
0.0%
1.3%
Sweden
Europe
1.0%
0.9%
0.1%
Ireland
Europe
0.9%
0.8%
0.1%
Italy
Europe
0.9%
1.1%
-0.2%
Denmark
Europe
0.5%
0.5%
0.0%
Distribution by credit quality (% of funds)
As at 31 Mar 2023
Credit Rating
Fund
Benchmark
Variance +/-
AAA
1.40%
1.12%
0.28%
AA
6.50%
7.13%
-0.62%
A
46.97%
47.32%
-0.35%
BBB
44.17%
44.00%
0.17%
Not Rated
0.95%
0.43%
0.52%
Total
100.00%
100.00%
Distribution by credit issuer (% of funds)
As at 31 Mar 2023
Issuers
Fund
Benchmark
Variance +/-
Corporate-Financial Institutions
49.78%
50.11%
-0.33%
Corporate-Industrials
47.87%
48.79%
-0.93%
Cash
1.52%
—
—
Corporate-Utilities
1.04%
1.09%
-0.05%
Treasury/Federal
0.57%
—
—
Securitized-Asset Backed Security
0.02%
—
—
Other
-0.79%
0.01%
-0.81%
Total
100.00%
100.00%
Distribution by credit maturity (% of funds)
As at 31 Mar 2023
Maturity
Fund
Benchmark
Variance +/-
Under 1 Year
0.81%
0.06%
0.75%
1 - 5 Years
43.50%
44.73%
-1.23%
5 - 10 Years
31.73%
30.92%
0.81%
10 - 15 Years
6.10%
6.33%
-0.23%
15 - 20 Years
4.73%
4.62%
0.11%
20 - 25 Years
4.43%
4.49%
-0.05%
Over 25 Years
8.70%
8.86%
-0.16%
Total
100.00%
100.00%
Holdings details
As at 30 Apr 2023
Holding name
% of market value
Market value
Face amount
Coupon/Yield
Maturity date
United States Treasury Note/Bond
0.19245%
€811,380.16
811,000
3.75%
15 Apr 2026
Morgan Stanley
0.14857%
€626,362.01
635,000
3.88%
29 Apr 2024
Morgan Stanley
0.13462%
€567,547.93
600,000
3.59%
22 Jul 2028
United States Treasury Note/Bond
0.13244%
€558,381.19
560,000
3.88%
30 Apr 2025
Nestle Finance International Ltd.
0.13139%
€553,935.95
550,000
14 Jun 2026
Sumitomo Mitsui Financial Group Inc.
0.13012%
€548,585.61
565,000
3.78%
09 Mar 2026
Carrefour SA
0.12758%
€537,873.56
500,000
0.75%
26 Apr 2024
Cooperatieve Rabobank UA
0.12723%
€536,391.71
570,000
3.75%
21 Jul 2026
Sanofi
0.12561%
€529,566.84
500,000
1.00%
01 Apr 2025
CVS Health Corp.
0.12500%
€526,999.91
565,000
5.05%
25 Mar 2048
Prices and distribution
Prices
NAV Price (EUR)
€4.32
Change
+€0.010.27%
At closure 31 May 2023
Market value (EUR)
€4.32
Change
+€0.000.07%
At closure 31 May 2023
NAV 52-week high
€4.55
At closure 31 May 2023
Market value 52-week high
€4.56
At closure 31 May 2023
NAV 52-week low
€4.07
At closure 31 May 2023
Market value 52-week low
€4.07
At closure 31 May 2023
NAV 52-week difference
€0.48
Change
+10.64%
At closure 31 May 2023
Market value 52-week difference
€0.48
Change
+10.63%
At closure 31 May 2023
Outstanding shares
57,784,152
At closure 30 Apr 2023
Historical Prices
-
Inception date
20 May 2021
Listing date
25 May 2021
Date
NAV (EUR)
Market price (EUR)
31 May 2023
€4.3190
€4.3155
30 May 2023
€4.3074
€4.3125
29 May 2023
€4.2807
€4.3015
26 May 2023
€4.2743
€4.2830
25 May 2023
€4.2724
€4.2910
24 May 2023
€4.2849
€4.2985
23 May 2023
€4.2933
€4.2995
22 May 2023
€4.2916
€4.3030
19 May 2023
€4.2925
€4.3095
18 May 2023
€4.2940
€4.3070
Distribution history
Distribution frequency
—
Historical performance
All dividends are reinvested for the "Accumulation" shares.
Purchase information
Currencies and stock exchanges
Listed currencies: EUR
Base currency: EUR
Exchanges: Deutsche Boerse, Borsa Italiana S.p.A., NYSE Euronext - Amsterdam
Fund codes
Ticker iNav Bloomberg: IV3GFEUR
Bloomberg: V3GF NA
Citi: T2VH
Exchange ticker: V3GF
ISIN: IE00BNDS1P30
MEX ID: VRAABD
Reuters: V3GF.AS
SEDOL: BMV7Z64
Ticker iNav Bloomberg: IV3GFEUR
Bloomberg: V3GF NA
Exchange ticker: V3GF
ISIN: IE00BNDS1P30
Reuters: V3GF.AS
SEDOL: BMV7Z64
Ticker iNav Bloomberg: IV3GFEUR
Exchange ticker: V3GF
Bloomberg: V3GF IM
ISIN: IE00BNDS1P30
Reuters: V3GF.MI
SEDOL: BMV7Z75
Bloomberg: V3GF GY
Exchange ticker: V3GF
ISIN: IE00BNDS1P30
Reuters: V3GF.DE
SEDOL: BMV7Z53
Product Detail Meta data: Author mode
Port Id:9472
Product Type: etf
Author Environment: true
The sum of investment management fees (the fees paid to the portfolio manager to invest your money and manage the fund) and administrative and other expenses (which cover all costs and expenses connected with the operation of the fund, which includes administrative fees, shareholder's registration and transfer agency fees, custody fees and all other operating expenses).
As at 30 Apr 2023
As at 31 Mar 2023
YTM (Yield to Maturity) effective is the rate of return an investor would receive if the fixed income securities held by a fund were held to their maturity dates.
Medium coupon is the average interest rate paid on the fixed income securities held by a fund. It is expressed as a percentage of face value.
Average maturity is the average length of time until fixed income securities held by a fund reach maturity and are repaid, taking into consideration the possibility that the issuer may call the bond before its maturity date.
Average quality is an indicator of credit risk. This figure is the average of the ratings assigned to a fund’s fixed income holdings by credit-rating agencies. Quality is a graded scale with Aaa or AAA indicating the most creditworthy bond issuers.
Average duration is an estimate of how much the value of the bonds held by a fund will fluctuate in response to a change in interest rates.
Tracking errors are reported as a standard deviation of the gross excess returns of the fund, multiplied by the square root of 12 to give an annualised number.