Vanguard Target Maturity 2027 Corporate Bond ETF

Vanguard Target Maturity 2027 Corporate Bond ETF is an exchange-traded fund designed to track the performance of the ICE 2027 Maturity US Corporate Constrained Index, a market-weighted benchmark of U.S. dollar-denominated, investment-grade corporate bonds maturing in 2027. It holds a diverse portfolio of these bonds, providing targeted exposure to the corporate fixed-income sector with a defined maturity horizon. The ETF supports predictable cash-flow planning through monthly income from bond holdings and an expected return of principal upon portfolio wind-down near its target year. As part of Vanguard's BondBuilder Target Maturity ETF suite, it offers a flexible, goals-based solution for building customized fixed-income portfolios, serving as an efficient alternative to traditional bond ladders or separately managed accounts. Investors benefit from broad diversification across corporate issuers and sectors, aiding in the management of interest rate and credit risks within the ETF structure. Launched in 2026 and managed from Valley Forge, Pennsylvania, this term fund is structured to liquidate in December 2027, gradually shifting toward shorter-term holdings as maturity approaches.