Vanguard Intermediate-Term Tax-Exempt Fund Admiral Shares (VWIUX)
This low-cost municipal bond fund seeks to provide federally tax-exempt income and typically appeals to investors in higher tax brackets. The fund invests in high-quality municipal bonds and has a predicable duration profile of about 5–6 years. Risks of the fund include the fact that changes in interest rates, both up and down, can affect the fund by resulting in lower bond prices or an eventual decrease in income for the fund. Investors who are looking for a fund that may provide federal tax-exempt interest income and can tolerate moderate price and income fluctuations may wish to consider this fund.
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