Vanguard Short-Term Investment-Grade (VFSTX) and Vanguard Intermediate-Term Investment-Grade (VFICX)
Downgraded to Bronze from Silver
Do Vanguard's bond managers matter? You bet. Low fees help, but management is still important. Greg Nassour was these funds' lead manager and co-head of Vanguard's U.S. corporate-bond desk. He left in April. Vanguard appeared to be surprised by the move. It named two comanagers while it looks for a permanent
A version of this article was originally published in the October 2018 issue of Morningstar FundInvestor. Download a complimentary copy of FundInvestor by visiting the website.Vanguard FTSE All-World ex-US Small-Cap Index (VFSVX)
Downgraded to Bronze from Silver
We lowered this strategy because it has big weightings in materials and energy--two of the most volatile sectors. That makes it more volatile than most of its peers.
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