Vanguard Intermediate-Term Tax-Exempt Investor Fund (VWITX - Free Report) a Zacks Rank #2 (Buy) was incepted in September 1977 and is managed by the Vanguard Group. VWITX seeks income exempt from federal income tax. VWITX holds high-quality, tax-exempt, municipal securities with a combined average maturity of 7 to 12 years. At least 75% of the bonds it holds are in the top three credit-rating categories, and no more than 20% of assets may be invested in bonds rated Baa (by Moody's Investors Service, Inc.) or BBB (by Standard & Poor's Corporation). The remaining 5% may be invested in securities with lower ratings or that are unrated. VWITX pursues a higher level of income than that provided by comparable funds.
The Vanguard Intermediate-Term Tax-Exempt Investor fund, managed by Vanguard Group, carries an expense ratio of 0.20%. Moreover, VWITX requires a minimal initial investment of $3,000.
VWITX has a history of positive total returns for over 10 years. Specifically, the fund’s returns over the 3, 5 year benchmarks; 3 year 3.49% and 5 year 4.37%. To see how this fund performed compared in its category, and other #1 and #2 Ranked Mutual Funds, please click here.
VWITX’s performance, as of the last filing, when compared to funds in its category was in the top 38% in 1 year, top 35% over the past 3 years, and in the 49% over the past 5 years.
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