---
ticker: "VCHY"
name: "Vanguard Malvern Funds - Vanguard U.S. High-Yield Corporate Bond Index ETF"
url: "https://etf.net/etf/VCHY"
grade: "A"
score: 71
graded_at: "2026-10-12"
category: "US High Yield"
category_rank: "18 of 85"
methodology: "https://etf.net/methodology"
---

# VCHY: Vanguard Malvern Funds - Vanguard U.S. High-Yield Corporate Bond Index ETF

Grade **A**, Score 71 of 100. Rank 18 of 85 in US High Yield.

Graded Oct 12, 2026.

## Grade pillars

| Pillar | Score | Category rank |
| --- | --- | --- |
| Cost | 98 | 2 of 85 |
| Mission | Not scored | — |
| Risk | 44 | 62 of 85 |
| Tradability | 43 | 52 of 85 |
| Holdings | 94 | 6 of 85 |
| Durability | 35 | 69 of 85 |

## Top holdings

The fund holds 1805 positions. These are the largest 30, by weight.

| # | Ticker | Name | Weight |
| --- | --- | --- | --- |
| 1 | — | Mktliq 12/31/2049 | 1.15% |
| 2 | — | 1261229 BC Ltd 10.00% 04/15/2032 | 0.42% |
| 3 | — | EchoStar Corp 10.75% 11/30/2029 | 0.39% |
| 4 | — | Meridian Arc Holdco LLC 6.25% 04/30/2031 | 0.37% |
| 5 | — | Centene Corp 4.63% 12/15/2029 | 0.33% |
| 6 | — | PR RNO Property Owner 1 LLC 6.50% 05/01/2031 | 0.29% |
| 7 | — | Quikrete Holdings Inc 6.38% 03/01/2032 | 0.28% |
| 8 | — | TransDigm Inc 6.38% 03/01/2029 | 0.25% |
| 9 | — | Cloud Software Group LLC 6.50% 03/31/2029 | 0.25% |
| 10 | — | TransDigm Inc 6.63% 03/01/2032 | 0.25% |
| 11 | — | Cloud Software Group LLC 9.00% 09/30/2029 | 0.24% |
| 12 | — | SV RNO Property Owner 1 LLC 5.88% 03/01/2031 | 0.24% |
| 13 | — | Galaxy Helios Data Centers II LLC 9.88% 08/01/2031 | 0.24% |
| 14 | — | CCO Holdings LLC / CCO Holdings Capital Corp 4.75% 03/01/2030 | 0.24% |
| 15 | — | Venture Global LNG Inc 9.50% 02/01/2029 | 0.24% |
| 16 | — | Neptune Bidco US Inc 9.29% 04/15/2029 | 0.23% |
| 17 | — | Asurion LLC/ Asurion Co-Issuer Inc 8.00% 12/31/2032 | 0.23% |
| 18 | — | Venture Global LNG Inc 9.88% 02/01/2032 | 0.22% |
| 19 | — | Core Scientific Finance I LLC 7.75% 05/15/2031 | 0.22% |
| 20 | — | OAK-Eagle Acquireco Inc 7.25% 07/01/2033 | 0.22% |
| 21 | — | HUB International Ltd 7.25% 06/15/2030 | 0.21% |
| 22 | — | Discovery Global Holdings Inc 5.05% 03/15/2042 | 0.21% |
| 23 | — | WULF Compute LLC 7.75% 10/15/2030 | 0.21% |
| 24 | — | Block Inc 5.63% 08/15/2030 | 0.21% |
| 25 | — | Rocket Cos Inc 6.13% 08/01/2030 | 0.21% |
| 26 | — | Tenet Healthcare Corp 6.13% 06/15/2030 | 0.21% |
| 27 | — | Windstream Services LLC / Windstream Escrow Finance Corp 8.25% 10/01/2031 | 0.20% |
| 28 | — | Asurion LLC/ Asurion Co-Issuer Inc 8.38% 02/01/2034 | 0.20% |
| 29 | — | CRC Insurance Group LLC 7.13% 06/01/2031 | 0.20% |
| 30 | — | Live Nation Entertainment Inc 4.75% 10/15/2027 | 0.19% |

Source: etf.net, https://etf.net/etf/VCHY. Please cite the page URL.