Vanguard Target Maturity 2034 Corporate Bond ETF

Vanguard Target Maturity 2034 Corporate Bond ETF is an exchange-traded fund that seeks to track the performance of a market-weighted index composed of U.S. dollar-denominated, investment-grade corporate bonds maturing in 2034. Designed as a term fund within Vanguard's BondBuilder target maturity ETF suite, it provides investors with targeted fixed-income exposure to a specific maturity horizon, mimicking the behavior of holding individual bonds to maturity while offering the diversification, liquidity, and tradability of an ETF. The fund holds a diverse portfolio of investment-grade corporate bonds, supporting monthly income distributions from underlying coupon payments and aiming for predictability in cash flows and return of principal at its planned liquidation in December 2034. During the final 12 months before liquidation, its yield is expected to align more closely with prevailing money market rates. This ETF serves goals-based income planning, liquidity management, and bond ladder construction in the fixed-income market, combining precision with institutional-quality indexing expertise.