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VBCF

GradeBNASDAQ Global Market

Vanguard Target Maturity 2032 Corporate Bond ETF

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

$72.78−0.67 (−0.91%)

As of Sep 23, 2026, 2:54 PM EDT

History starts Mar 26, 2026.History starts Mar 26, 2026.History starts Mar 26, 2026.
Intraday session: down, 30 prints from 73.45 to 72.78. Range 72.73 to 73.37. Use the arrow keys to read each point.$73.00$73.20$73.4010 AM12 PM2 PM4 PM
Expense ratio
0.08%
Fund size
$43M
1Y return
—
Yield · Last 12 months
Data unavailable
Volume · 30D
0M sh
NAV per share
$73.36
52W range
low $73.15high $76.52

The ETF.net VBCF Grade

B

69/ 100

Rank 11 of 43 in Defined-Maturity Investment Grade Corporate⁠

Confidence High

Six-pillar profile for VBCF. Scores out of 100: Cost 87, Risk 45, Mission 100, Tradability 23, Holdings 55, Durability 52. Strongest: Mission (100). Weakest: Tradability (23). Leans toward Mission.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 69 of 100 sits in the B 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 rank7/43 · top 16%

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    AScore 100
    Category rank19/32 · mid-pack

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    CScore 45
    Category rank19/43 · top 44%

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    FScore 23
    Category rank39/43 · bottom quartile

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    BScore 55
    Category rank23/42 · mid-pack

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    CScore 52
    Category rank24/43 · mid-pack

Graded as of Sep 22, 2026

Our read on VBCF

ETF.net Research

BVanguard's 2032 rung: a market-weighted basket of investment-grade US corporate bonds that all come due in the same year, for 0.08% a year. A bond-ladder building block from the firm that made cheap indexing a habit.

Stated mandate

The fund seeks to follow a market-weighted index of U.S.-dollar-denominated, investment-grade corporate bonds scheduled to mature in 2032.

Why people hold it

  1. 010.08% a year, below the 0.10% median for target-maturity bond funds and below what the iShares iBonds (IBDU) and Invesco BulletShares (BSCU) rungs charge.
  2. 02Every bond in the index is scheduled to mature in 2032, so it works as one rung of a ladder rather than a fund that rolls its maturities forever. Income is paid quarterly.investor.vanguard.com
  3. 03Plain indexing of US-dollar investment-grade corporates through the ICE 2032 Maturity US Corporate Constrained Index. No credit picking, no duration calls.
  4. 04One of the stronger builds in a target-maturity field of well over a hundred funds, with cost and portfolio construction doing the heavy lifting.

Worth knowing

  1. 01Launched in 2026, so the track record is short. Like most young funds it runs a small asset base and trades lightly, which can widen the gap between bid and ask.
  2. 02A target maturity year is not a promise of principal. These are corporate bonds in a fund wrapper: price and income move with rates and credit until the bonds come due.
  3. 03Vanguard runs sibling rungs for other years (VBCB targets 2028), so the real decision is which maturity year matches the money you have earmarked.

VBCF Holdings

As of Sep 21, 2026, 7:39 PM
Asset class
Other
Holdings
—
Top-10 weight
10%
Largest holding
Bank of America Corp 5.01% 07/22/20331.4%

Geography

  • United States86.07%
  • Canada4.05%
  • United Kingdom3.73%
  • Japan2.16%
  • Ireland1.19%
  • Netherlands0.68%
  • Luxembourg0.62%
  • Australia0.60%
  • Other countries (3)0.88%
The fund’s holdings, weight-ordered — page 1 of 26.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001—Bank of America Corp 5.01% 07/22/20331.39%6,020$595K13
002—Wells Fargo & Co 3.35% 03/02/20331.08%5,080$461K12
003—Citigroup Inc 6.27% 11/17/20331.06%4,320$453K10
004—JPMorgan Chase & Co 4.91% 07/25/20331.03%4,470$439K12
005—Wells Fargo & Co 4.90% 07/25/20331.01%4,410$431K11
006—Meta Platforms Inc 3.85% 08/15/20320.99%4,550$422K9
007—AerCap Ireland Capital DAC / AerCap Global Aviation Trust 3.30% 01/30/20320.98%4,650$420K18
008—Goldman Sachs Group Inc/The 3.10% 02/24/20330.97%4,630$413K13
009—Verizon Communications Inc 2.35% 03/15/20320.96%4,740$410K12
010—Oracle Corp 4.80% 09/26/20320.90%4,150$384K21
011—Bank of America Corp 4.57% 04/27/20330.83%3,650$352K14
012—Bank of America Corp 2.97% 02/04/20330.81%3,880$346K11
013—Meta Platforms Inc 4.60% 11/15/20320.80%3,540$340K13
014—Morgan Stanley 6.34% 10/18/20330.72%2,950$309K7
015—JPMorgan Chase & Co 5.72% 09/14/20330.72%3,030$307K10

Showing 1–15 of 386 holdings

VBCF Performance

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

VBCF$9,864
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. VBCF $9,864. 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 VBCF. Periods over one year show the average yearly return.
PeriodVBCF
Year to dateFund launched this year—
1 month−1.3%
3 months−1.4%
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 VBCF
YearReturn barVBCF
2026 YTD+0.0%

History from Mar 26, 2026

VBCF in the news

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

VBCF 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
$0.29 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 $0.10; Jun 1, 2026 $0.28; Jul 1, 2026 $0.29; Aug 3, 2026 $0.29; Sep 1, 2026 $0.29. Use the arrow keys to read each point.2026YTD
Ex-datePay dateAmount per share
Sep 1, 2026Sep 3, 2026$0.29
Aug 3, 2026Aug 5, 2026$0.29
Jul 1, 2026Jul 6, 2026$0.29
Jun 1, 2026Jun 3, 2026$0.28
May 1, 2026May 5, 2026$0.10

VBCF 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.
0.10
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.

VBCF 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.

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