- ISIN
- US9220428904
- CUSIP
- 922042890
- Issuer
- Vanguard
- Inception Date
- Jul 9, 1993
- Category
- Long-Term Bond
- Distribution Policy
- Distributing
- Asset Class
- Bond
- Asset Class Size
- Multi-Cap
- Asset Class Style
- Blend
Share Price Chart
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Performance
VLMIX Performance Chart
Vanguard Long-Term Investment-Grade Fund Investor Shares (VLMIX) is down 1.8% since the beginning of the year. VLMIX is currently trading at $34 per share. Investors who bought $1,000 worth of VLMIX shares 5 years ago would now be looking at an investment worth $1,338.
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Returns By Period
Vanguard Long-Term Investment-Grade Fund Investor Shares (VLMIX) has returned -1.84% so far this year and -2.20% over the past 12 months.
Vanguard Long-Term Investment-Grade Fund Investor Shares
- 1D
- 0.15%
- 1M
- -0.50%
- YTD
- -1.84%
- 6M
- -2.76%
- 1Y
- -2.20%
- 3Y*
- 6.78%
- 5Y*
- 6.00%
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- -0.74%
- 1M
- 4.90%
- YTD
- 10.35%
- 6M
- 10.28%
- 1Y
- 26.52%
- 3Y*
- 20.83%
- 5Y*
- 12.30%
- 10Y*
- 13.66%
VLMIX Monthly Returns History
Based on dividend-adjusted daily data since Aug 23, 2017, VLMIX's average daily return is +0.05%, while the average monthly return is +1.00%. At this rate, an investment would double in approximately 5.8 years.
Historically, 61% of months were positive and 39% were negative. The best month was Nov 2020 with a return of +10.6%, while the worst month was Mar 2020 at -13.1%. The longest winning streak lasted 5 consecutive months, and the longest losing streak was 3 months.
On a daily basis, VLMIX closed higher 53% of trading days. The best single day was Mar 24, 2020 with a return of +8.6%, while the worst single day was Mar 16, 2020 at -12.4%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 1.29% | 0.78% | -7.84% | 6.05% | -1.76% | 0.15% | -1.84% | ||||||
| 2025 | 3.15% | -1.88% | -1.86% | -1.02% | 2.97% | 2.23% | -0.84% | -0.20% | 1.21% | -2.37% | 2.11% | -2.26% | 1.01% |
| 2024 | 0.55% | 5.36% | 1.66% | -6.17% | 2.68% | 1.22% | 5.86% | 2.88% | 1.00% | -4.24% | 4.65% | -6.85% | 7.83% |
| 2023 | 6.39% | -1.41% | 1.97% | -0.39% | -1.06% | 6.42% | 0.54% | -0.07% | -4.44% | -3.60% | 10.57% | 6.60% | 22.39% |
| 2022 | -7.69% | -0.72% | 3.26% | -6.45% | -0.54% | -5.42% | 8.17% | -3.11% | -6.81% | 8.17% | 7.70% | -4.38% | -9.40% |
| 2021 | -5.14% | 2.64% | 3.84% | 5.92% | -0.56% | 1.46% | 3.39% | 2.55% | -5.69% | 6.29% | -2.12% | 6.87% | 20.12% |
Benchmark Metrics
Vanguard Long-Term Investment-Grade Fund Investor Shares has an annualized alpha of -0.30%, beta of 0.90, and R2 of 0.83 versus S&P 500 Index. Calculated based on daily prices since August 24, 2017.
- This fund participated in 90.11% of S&P 500 Index downside but only 84.41% of its upside - more exposed to losses than it benefited from rallies.
- With beta of 0.90 and R2 of 0.83, this fund moves broadly in line with S&P 500 Index - much of its variation is explained by market exposure rather than independent behavior.
- Alpha
- -0.30%
- Beta
- 0.90
- R²
- 0.83
- Upside Capture
- 84.41%
- Downside Capture
- 90.11%
Expense Ratio
VLMIX has an expense ratio of 0.20%, which is considered low.
Return for Risk
Risk / Return Rank
VLMIX ranks 2 for risk / return — in the bottom 2% of mutual funds on our site. This means you're taking on significantly more risk than the returns justify. Consider whether the potential upside is worth the volatility, or explore alternatives with better risk / return profiles.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Vanguard Long-Term Investment-Grade Fund Investor Shares (VLMIX) and compare them to S&P 500 Index.
| VLMIX | Benchmark | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.15 | 2.24 | -2.40 |
Sortino ratioReturn per unit of downside risk | -0.13 | 3.07 | -3.20 |
Omega ratioGain probability vs. loss probability | 0.99 | 1.41 | -0.42 |
Calmar ratioReturn relative to maximum drawdown | -0.18 | 2.93 | -3.10 |
Martin ratioReturn relative to average drawdown | -0.50 | 13.52 | -14.02 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Dividends
Dividend History
Vanguard Long-Term Investment-Grade Fund Investor Shares provided a 2.18% dividend yield over the last twelve months, with an annual payout of $0.73 per share. The fund has been increasing its distributions for 2 consecutive years.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.73 | $0.73 | $0.42 | $0.07 | $1.98 | $2.57 | $2.30 | $0.42 | $0.98 | $0.31 |
Dividend yield | 2.18% | 2.14% | 1.21% | 0.22% | 7.46% | 8.18% | 8.10% | 1.63% | 5.11% | 1.61% |
Monthly Dividends
The table displays the monthly dividend distributions for Vanguard Long-Term Investment-Grade Fund Investor Shares. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | ||||||
| 2025 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.73 | $0.73 |
| 2024 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.42 | $0.42 |
| 2023 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.07 | $0.07 |
| 2022 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $1.98 | $1.98 |
| 2021 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $2.57 | $2.57 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the Vanguard Long-Term Investment-Grade Fund Investor Shares. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the Vanguard Long-Term Investment-Grade Fund Investor Shares was 35.47%, occurring on Mar 23, 2020. Recovery took 114 trading sessions.
The current Vanguard Long-Term Investment-Grade Fund Investor Shares drawdown is 8.95%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
COVID crash2020 | -35.47%Mar 2020 | 1mo 2d | 5mo 13d | 6mo 15dFeb 2020 - Sep 2020 |
Bear market2022 | -21.85%Jun 2022 | 5mo 18d | 1y 13d | 1y 6moDec 2021 - Jun 2023 |
Rate-hike selloffLate 2018 | -17.60%Dec 2018 | 3mo 8d | 2mo 7d | 5mo 15dSep 2018 - Mar 2019 |
2025 selloff2025 | -17.59%Apr 2025 | 5mo 25d | — | 1y 7moOct 2024 - now |
2023 correction2023 | -10.82%Oct 2023 | 3mo 3d | 26d | 3mo 29dJul 2023 - Nov 2023 |
Drawdown Indicators
| VLMIX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.47% | -56.78% | +21.31% |
Max Drawdown (1Y)Largest decline over 1 year | -11.77% | -9.10% | -2.67% |
Max Drawdown (3Y)Largest decline over 3 years | -17.59% | -18.90% | +1.31% |
Max Drawdown (5Y)Largest decline over 5 years | -21.85% | -25.43% | +3.58% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -8.95% | -0.74% | -8.21% |
Average DrawdownAverage peak-to-trough decline | -4.80% | -10.72% | +5.92% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.10% | 1.97% | +2.13% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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