GO versus Revenue ratio in Vanguard Muni Funds

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Utvolfan1
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Joined: Sun Jan 08, 2017 9:49 am

GO versus Revenue ratio in Vanguard Muni Funds

Post by Utvolfan1 » Sun Apr 14, 2019 6:56 am

Does anyone know what percentage of Vanguard’s Intermediate Muni Bond Fund is general obligation versus revenue? I’ve looked in the prospectus but can’t pin it down. Thanks to all for any info.

Geologist
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Joined: Fri Jan 02, 2009 7:35 pm

Re: GO versus Revenue ratio in Vanguard Muni Funds

Post by Geologist » Sun Apr 14, 2019 8:04 am

I suppose it is possible that some place like Morningstar would have a total. I wouldn’t be looking in the prospectus in Vanguard’s literature to try and get information. The annual (and semi-annual reports) have lists of the bonds held by the fund. You can get a sense of the relative proportions by inspection.

I’m not sure why you want to know. As Annette Thau says in The Bond Book, there are strong GO’s and weak GO’s and strong revenue and weak revenue bonds.

Topic Author
Utvolfan1
Posts: 19
Joined: Sun Jan 08, 2017 9:49 am

Re: GO versus Revenue ratio in Vanguard Muni Funds

Post by Utvolfan1 » Sun Apr 14, 2019 8:32 am

Thanks for the reply. At this point, I’m just a little skeptical of the GO bonds in a lot of states. At least with revenue bonds, there’s a dedicated stream of income going into them.

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