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VBCB

GradeANASDAQ Global Market

Vanguard Target Maturity 2028 Corporate Bond ETF

Target Maturity Bond · Vanguard · Inception 2026-03-24

$74.85−0.18 (−0.25%)

As of Sep 23, 2026, 2:01 PM EDT

History starts Mar 26, 2026.History starts Mar 26, 2026.History starts Mar 26, 2026.
Intraday session: down, 31 prints from 75.03 to 74.85. Range 74.83 to 75.03. Use the arrow keys to read each point.$74.90$74.95$75.00$75.0510 AM12 PM2 PM4 PM
Expense ratio
0.08%
Fund size
$104M
1Y return
—
Yield · Last 12 months
Data unavailable
Volume · 30D
0M sh
NAV per share
$74.99
52W range
low $74.93high $75.80

The ETF.net VBCB Grade

A

81/ 100

Rank 1 of 43 in Defined-Maturity Investment Grade Corporate⁠

Confidence High

Six-pillar profile for VBCB. Scores out of 100: Cost 87, Risk 83, Mission 100, Tradability 44, Holdings 82, Durability 56. Strongest: Mission (100). Weakest: Tradability (44). Leans toward Mission.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 81 of 100 sits in the A band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.

  • Cost

    What you pay to own it — the expense ratio plus trading frictions, ranked within its category.
    AScore 87
    Category rank3/43 · top 7%

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    AScore 100
    Category rank16/32 · top 50%

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    AScore 83
    Category rank7/43 · top 16%

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    CScore 44
    Category rank23/43 · mid-pack

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    AScore 82
    Category rank7/42 · top 17%

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    BScore 56
    Category rank18/43 · top 42%

Graded as of Sep 22, 2026

Our read on VBCB

ETF.net Research

AVanguard finally showed up to the bond-ladder party. VBCB owns U.S. investment-grade corporate bonds that all mature in 2028, and it undercuts the typical target-maturity rung on fees.

Stated mandate

The fund seeks to track a market-weighted index of U.S.-dollar-denominated, investment-grade corporate bonds that mature in 2028.

Why people hold it

  1. 01Charges 0.08% a year, below the 0.10% typical for target-maturity bond funds and below the iBonds and BulletShares rungs (IBDU, BSCT, BSCU) it lines up against.
  2. 02Every bond in the index is dollar-denominated investment grade maturing in 2028: one rung of a bond ladder in one ticker, with income paid quarterly.
  3. 03A plain market-weighted ICE index run through Vanguard's index plumbing, and one of the stronger builds in the target-maturity bond group.

Worth knowing

  1. 01Launched in 2026 and still small, it trades thinly, so spreads can run wider than on the long-established corporate ladders.
  2. 02Corporate credit, not Treasuries. Investment grade lowers the odds of trouble, but downgrades and defaults stay in the mix.
  3. 03One maturity year, not a whole curve. This is a rung, not a stand-in for a broad bond fund.

VBCB Holdings

As of Sep 21, 2026, 7:39 PM
Asset class
Other
Holdings
—
Top-10 weight
6%
Largest holding
Goldman Sachs Bank USA/New York NY 4.66% 06/03/20290.8%

Geography

  • United States82.78%
  • Canada4.65%
  • United Kingdom4.30%
  • Japan3.35%
  • Australia1.13%
  • Ireland0.86%
  • Spain0.74%
  • Netherlands0.63%
  • Other countries (7)1.55%
The fund’s holdings, weight-ordered — page 1 of 44.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001—Goldman Sachs Bank USA/New York NY 4.66% 06/03/20290.78%8,010$799K12
002—CVS Health Corp 4.30% 03/25/20280.75%7,800$775K15
003—Bank of America Corp 5.82% 09/15/20290.62%6,290$641K15
004—Amgen Inc 5.15% 03/02/20280.61%6,220$626K14
005—Pfizer Investment Enterprises Pte Ltd 4.45% 05/19/20280.60%6,220$620K11
006—Cigna Group/The 4.38% 10/15/20280.59%6,070$602K16
007—Goldman Sachs Group Inc/The 4.15% 01/21/20290.58%6,060$601K16
008—Bank of America Corp 3.97% 03/05/20290.57%5,890$582K12
009—AerCap Ireland Capital DAC / AerCap Global Aviation Trust 3.00% 10/29/20280.56%6,020$578K20
010—Wells Fargo & Co 4.15% 01/24/20290.55%5,720$565K11
011—JPMorgan Chase & Co 2.07% 06/01/20290.54%5,860$560K10
012—Morgan Stanley 5.45% 07/20/20290.51%5,150$521K17
013—JPMorgan Chase & Co 5.30% 07/24/20290.49%4,960$501K11
014—HSBC USA Inc 4.65% 06/03/20280.47%4,800$480K9
015—JPMorgan Chase & Co 6.09% 10/23/20290.46%4,580$470K14

Showing 1–15 of 658 holdings

VBCB Performance

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

VBCB$10,041
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$10,415
Jun 22, 2026 to Sep 22, 2026. VBCB $10,041. SPY $10,415. Use the arrow keys to read each point.$9,741$10,122$10,502Jun 2026Aug 2026Sep 2026

Jun 22, 2026 – Sep 22, 2026

Returns run to the Sep 22, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for VBCB. Periods over one year show the average yearly return.
PeriodVBCB
Year to dateFund launched this year—
1 month−0.4%
3 months+0.4%
1 yearFund is under 1 year old—
3 yearsFund is under 3 years old—per year
5 yearsFund is under 5 years old—per year
10 yearsFund is under 10 years old—per year

As of the close, with distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for VBCB
YearReturn barVBCB
2026 YTD+1.5%

History from Mar 26, 2026

VBCB in the news

ETF.net Research hasn’t filed on VBCB yet — coverage lands here as it’s written.

VBCB Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Sep 22, 2026.
Data unavailableLast 12 months
Payout per share
Data unavailableLast 12 months
Last payment
$0.20 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Monthly

Distribution data unavailable.

Distribution history

2026

One bar per payment. 5 payments in 2026 YTD. May 1, 2026 $0.07; Jun 1, 2026 $0.24; Jul 1, 2026 $0.22; Aug 3, 2026 $0.24; Sep 1, 2026 $0.20. Use the arrow keys to read each point.2026YTD
Ex-datePay dateAmount per share
Sep 1, 2026Sep 3, 2026$0.20
Aug 3, 2026Aug 5, 2026$0.24
Jul 1, 2026Jul 6, 2026$0.22
Jun 1, 2026Jun 3, 2026$0.24
May 1, 2026May 5, 2026$0.07

VBCB Risk

How much the fund’s monthly returns vary, scaled to a year.
—
Launched Mar 2026; fills in after 12 months
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
—
Launched Mar 2026; fills in after 12 months
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
—
Launched Mar 2026; fills in after 12 months
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
0.05
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

VBCB Cost

Expense ratio0.08%
  • The middle half of Defined-Maturity Investment Grade Corporate funds
  • Median 0.10%

No Defined-Maturity Investment Grade Corporate fund charges less.

VBCB costs $8.00 a year on $10,000. The median Defined-Maturity Investment Grade Corporate fund costs $10.00.