Vanguard Intermediate-Term Treasury Fund Investor Shares (VFITX)
This fund invests in debt issued directly by the government in the form of intermediate-term Treasuries. The main feature of the fund is its reduced risk of default, since the bonds in the portfolio are backed by the full faith and credit of the U.S. government. 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. Because the fund invests in only one maturity segment of the fixed income market, it may be considered complementary to a core bond holding in an investment portfolio.
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