The investment seeks current income that is exempt from federal personal income taxes, with limited price volatility. The fund has no limitations on the maturity of individual securities, but is expected to maintain a dollar-weighted average maturity of 1 to 2 years. At least 75% of the securities held by the fund are municipal bonds in the top three credit-rating categories as determined by a nationally recognized statistical rating organization or, if unrated, determined to be of comparable quality by the advisor.
Fund filings (PDF) »
Pamela Wisehaupt Tynan (Started: Dec 31, 1996)
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Vanguard, 100 Vanguard Boulevard, Malvern, PA 19355, USA