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Vanguard tax-exempt long-term bond funds

Learn more about who should invest in this asset class.

Click a fund name for more details about each fund.

Vanguard® California Long-Term Tax-Exempt Fund

  • Seeks to provide current income exempt from federal and California personal income taxes. The fund is intended for California residents only.
  • Invests primarily in high-quality California municipal securities.
  • Maintains a dollar-weighted average maturity of 10 to 25 years.

Admiral™ Shares available

 



 
Investor Shares expense ratio as of 03/26/20150.20%
Avg. Muni California Long Fund expense ratio0.88%
 
Minimum initial investment$3,000
IRAsN/A
UGMA/UTMAs$3,000
 

Vanguard® High-Yield Tax-Exempt Fund

  • Seeks to provide a high and sustainable level of current income that is exempt from federal personal income taxes.
  • Invests up to 20% in noninvestment-grade securities.
  • Maintains a dollar-weighted average maturity of 15 to 25 years.
  • Generally offers the highest yield of Vanguard's municipal bond funds but is subject to the highest risk of principal fluctuation.

Admiral™ Shares available

 



 
Investor Shares expense ratio as of 02/24/20150.20%
Avg. High Yield Muni Fund expense ratio0.97%
 
Minimum initial investment$3,000
IRAsN/A
UGMA/UTMAs$3,000
 

Vanguard® Long-Term Tax-Exempt Fund

  • Seeks to provide a high and sustainable level of current income that is exempt from federal personal income taxes.
  • Invests primarily in high-quality municipal securities.
  • Maintains a dollar-weighted average maturity of 10 to 25 years.

Admiral™ Shares available

 



 
Investor Shares expense ratio as of 02/24/20150.20%
Avg. Muni National Long Fund expense ratio0.90%
 
Minimum initial investment$3,000
IRAsN/A
UGMA/UTMAs$3,000
 

Vanguard® Massachusetts Tax-Exempt Fund

  • Seeks to provide current income exempt from federal and Massachusetts personal income taxes. The fund is intended for Massachusetts residents only.
  • Invests primarily in high-quality Massachusetts municipal securities.
  • Maintains a dollar-weighted average maturity of 10 to 15 years.

 



 
Investor Shares expense ratio as of 03/26/20150.16%
Avg. Muni Massachusetts Fund expense ratio0.91%
 
Minimum initial investment$3,000
IRAsN/A
UGMA/UTMAs$3,000
 

Vanguard® New Jersey Long-Term Tax-Exempt Fund

  • Seeks to provide current income exempt from federal and New Jersey personal income taxes. The fund is intended for New Jersey residents only.
  • Invests primarily in high-quality New Jersey municipal securities.
  • Maintains a dollar-weighted average maturity of 10 to 25 years.

Admiral™ Shares available

 



 
Investor Shares expense ratio as of 03/26/20150.20%
Avg. Muni New Jersey Fund expense ratio0.87%
 
Minimum initial investment$3,000
IRAsN/A
UGMA/UTMAs$3,000
 

Vanguard® New York Long-Term Tax-Exempt Fund

  • Seeks to provide current income exempt from both federal and New York personal income taxes. The fund is intended for New York residents only.
  • Invests primarily in high-quality New York municipal securities.
  • Maintains a dollar-weighted average maturity of 10 to 25 years.

Admiral™ Shares available

 



 
Investor Shares expense ratio as of 03/26/20150.20%
Avg. Muni New York Long Fund expense ratio0.92%
 
Minimum initial investment$3,000
IRAsN/A
UGMA/UTMAs$3,000
 

Vanguard® Ohio Long-Term Tax-Exempt Fund

  • Seeks to provide current income exempt from federal and Ohio personal income taxes. The fund is intended for Ohio residents only.
  • Invests primarily in high-quality Ohio municipal securities.
  • Maintains a dollar-weighted average maturity of 10 to 25 years.

 



 
Investor Shares expense ratio as of 03/26/20150.16%
Avg. Muni Ohio Fund expense ratio0.92%
 
Minimum initial investment$3,000
IRAsN/A
UGMA/UTMAs$3,000
 

Vanguard® Pennsylvania Long-Term Tax-Exempt Fund

  • Seeks to provide current income exempt from federal and Pennsylvania personal income taxes.
  • Invests primarily in high-quality Pennsylvania municipal securities.
  • Maintains a dollar-weighted average maturity of 10 to 25 years.

Admiral™ Shares available

 



 
Investor Shares expense ratio as of 03/26/20150.20%
Avg. Muni Pennsylvania Fund expense ratio0.93%
 
Minimum initial investment$3,000
IRAsN/A
UGMA/UTMAs$3,000