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Vanguard - Fixed income - Overview
Personal Investors

Learn about investing in bonds and CDs

Agency bonds »

U.S. government agency bonds are debt obligations issued by government-sponsored enterprises (GSEs) or U.S. government agencies.

CDs »

CDs are deposit obligations issued by commercial banks to raise funds for their business activities.

Corporate bonds »

Corporate bonds are debt obligations issued by corporations to raise capital and operating cash.

Exchange-traded notes »

Exchange-traded notes (ETNs) are senior, unsecured, unsubordinated debt securities typically issued by a bank or financial institution.

Government National Mortgage Association bonds »

The Government National Mortgage Association (GNMA or Ginnie Mae) issues agency bonds backed by the full faith and credit of the U.S. government.

Municipal bonds »

Municipal bonds are debt obligations issued by states, cities, counties and other governmental entities to raise funds to pay for public projects.

Preferred securities »

Preferred securities combine the features of bonds and stocks. They represent ownership in a corporation like stocks (though generally with no voting rights) but provide periodic dividend payments like bonds.

U.S. Treasuries »

U.S. Treasury securities are direct debt obligations backed by the full faith and credit of the U.S. government.

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