Executive Summary: Vanguard's intermediate-term bond shelf has grown to 13 funds, and I have new top picks: Core Bond and Core-Plus Bond edge out my longtime favorites. On the long end, five funds and plenty of interest rate risk still don't add up to a compelling trade.
On Tuesday, I covered Vanguard's cash alternatives and short-maturity bond funds. Today, I'll finish the "core" bond conversation with the rest of the lineup: 13 intermediate-term funds and 5 long-term funds—18 more funds on top of Tuesday's 10.
If that fund count has you feeling overwhelmed, that's exactly the problem this series is meant to solve.
The IVA Portfolios don't own any of these funds outright—as I mentioned on Tuesday, Federal Money Market (VMFXX) and Total World Bond ETF (BNDW) cover my bond sleeve these days. But that's not a verdict on Vanguard's intermediate-term bond funds. There are real winners in here, and I'll name them—though I’d continue to steer clear of long-maturity bond funds.
So, let's keep moving.