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Launched

Vanguard Target Maturity 2032 Corporate Bond ETF

VBCFNasdaqB

$72.53−0.04 (−0.05%)

At close: Oct 13, 2026, 4:00 PM

B68/ 100

Rank 13 of 43 in Defined-Maturity Investment Grade Corporate

B68/100Rank 13 of 43inDefined-Maturity Investment Grade Corporate
Intraday session: down, 32 prints from 72.56 to 72.53. Range 72.42 to 72.66. Use the arrow keys to read each point.72.4572.6072.6510 AM12 PM2 PM4 PM
Expense ratio
0.08%
Fund size
$43M
1Y total return
—
Yield · Last 12 months
Data unavailable
Holdings
386
Avg volume · 30D
0M sh
NAV per share
$72.39
52W range
low $71.94high $76.52
Launched

The ETF.net VBCF Grade

B

Score 68 out of 100

Category
Defined-Maturity Investment Grade Corporate⁠
Rank
13 of 43
Six-pillar profile for VBCF. Scores out of 100: Cost 87, Risk 39, Mission 100, Tradability 25, Holdings 56, Durability 51. Strongest: Mission (100). Weakest: Tradability (25). Leans toward Mission.

Score 68 of 100 falls in the B band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.

  • Cost

    The fund’s net expense ratio, ranked against its category.
    A87 out of 100
    Rank 2 of 43

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    A100 out of 100
    Rank 1 of 32

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    D39 out of 100
    Rank 22 of 43

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    D25 out of 100
    Rank 38 of 43

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    B56 out of 100
    Rank 23 of 42

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    C51 out of 100
    Rank 23 of 43

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 Oct 11, 2026
Asset class
Other
Holdings
386
Top-10 weight
10%
Largest holding
Bank of America Corp 5.01% 07/22/20331.4%

Geography

  • United States85.34%
  • United Kingdom4.25%
  • Canada3.83%
  • Japan2.21%
  • Ireland0.99%
  • Australia0.97%
  • Netherlands0.49%
  • Switzerland0.35%
  • Other countries (7)1.57%
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$461K13
003—Citigroup Inc 6.27% 11/17/20331.06%4,320$453K9
004—JPMorgan Chase & Co 4.91% 07/25/20331.03%4,470$439K11
005—Wells Fargo & Co 4.90% 07/25/20331.01%4,410$431K10
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$413K11
009—Verizon Communications Inc 2.35% 03/15/20320.96%4,740$410K13
010—Oracle Corp 4.80% 09/26/20320.90%4,150$384K22
011—Bank of America Corp 4.57% 04/27/20330.83%3,650$352K15
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$340K12
014—Morgan Stanley 6.34% 10/18/20330.72%2,950$309K7
015—JPMorgan Chase & Co 5.72% 09/14/20330.72%3,030$307K9

Showing 1–15 of 386 holdings

VBCF Performance

Launched Mar 24, 2026

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

Not enough history yet.Not enough history yet.Not enough history yet.Not enough history yet.Not enough history yet.
VBCF$9,781
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$10,332
Jul 10, 2026 to Oct 12, 2026. VBCF $9,781. SPY $10,332. Use the arrow keys to read each point.$9,608$10,004$10,400Jul 2026Aug 2026Oct 2026

Jul 10, 2026 – Oct 12, 2026

Returns run to the Oct 12, 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−0.6%
3 months−2.2%
1 yearFund is under 1 year old—
3 yearsFund is under 3 years oldper year—
5 yearsFund is under 5 years oldper year—
10 yearsFund is under 10 years oldper 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−0.8%

History from Mar 26, 2026

VBCF in the news

Filtered to VBCF · Defined-Maturity Investment Grade Corporate

VBCF Dividends

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. 6 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; Oct 1, 2026 $0.29. Use the arrow keys to read each point.2026YTD
Ex-datePay dateAmount per share
Oct 1, 2026Oct 5, 2026$0.29
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.

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