Vanguard Short-Term Federal Fund Admiral Shares

The fund aims to generate consistent income for investors while striving to keep fluctuations in its share price at a minimum. Under typical market conditions, at least 80% of its portfolio will be dedicated to short-term debt instruments that are either issued or guaranteed by the U.S. government and its associated agencies. It's crucial to understand, however, that a significant portion of these securities do not carry the explicit "full faith and credit" guarantee of the U.S. government. On average, the dollar-weighted maturity of the fund's holdings is projected to be between one and four years.