Mutual Fund Insights: Vanguard High-Yield Corporate Fund (VWEHX)

In-depth Analysis of Vanguard High-Yield Corporate Fund (VWEHX)

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See Vanguard High-Yield Corporate Fund (VWEHX) performance details as of January 31, 2010

  

Last Trade: $5.55 on 3/17/2010, Change: +0.01 (0.18%)

  

Fund Manager - Michael L. Hong

Fund Manager Tenure: 2.1 years   [Similar Funds: VWEAX ]
Fundmojo Fund Grade: C (Score: 0.59)     (What does this score mean?)

Michael L. Hong, CFA, vice president, fixed-income credit analyst and portfolio manager of Wellington Management, will manage the Vanguard High-Yield Corporate Fund and the VVIF-High-Yield Portfolio. Mr. Hong, 35, who leads the firm?s high-yield credit research team, has been with Wellington Management for 10 years.  Get more insights on Michael L. Hong

  

 What we like about Vanguard High-Yield Corporate Fund (VWEHX)

Data for Vanguard High-Yield Corporate Fund (VWEHX) as of January 31, 2010

• Vanguard High-Yield Corporate Fund (VWEHX) has good mid-term performance (3-year return 3.84% vs 3.11% High Yield Bond category average)
• Vanguard High-Yield Corporate Fund (VWEHX) has good Long-term performance (5-year return 4.65% vs 4.59% High Yield Bond category average)
• Vanguard High-Yield Corporate Fund (VWEHX) ratio of up-years vs down years is greater than 2
• Vanguard High-Yield Corporate Fund (VWEHX) is less volatile than its peers as it has a 3-year Standard Deviation of 14.71, lower than category average of 15.39
• Vanguard High-Yield Corporate Fund (VWEHX) has a lower management fee than its High Yield Bond average: 0.32% vs 1.21%
• Vanguard High-Yield Corporate Fund (VWEHX) is a true no-load fund as it has no load and no 12b1 promotion, distributions, marketing expenses

  

 What we are cautious about Vanguard High-Yield Corporate Fund (VWEHX)

Data for Vanguard High-Yield Corporate Fund (VWEHX) as of January 31, 2010

• Vanguard High-Yield Corporate Fund (VWEHX) management has been with Vanguard High-Yield Corporate Fund for only 2.1 years, it is hard to judge manager's ability based on this fund's operation record
• Vanguard High-Yield Corporate Fund (VWEHX) has a less-than-ideal short-term performance (1-year return 32.68% vs 41.66% High Yield Bond category average)
• Vanguard High-Yield Corporate Fund (VWEHX) has a Morningstar rating of 3 and below
• Vanguard High-Yield Corporate Fund (VWEHX) does not have a good risk adjusted return as its 3-year Alpha of -3.36 is worse than category average of -2.43, and its 3-year Sharpe ratio is 0.2

See Vanguard High-Yield Corporate Fund (VWEHX) performance details as of January 31, 2010

  

  

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Vanguard High-Yield Corporate Fund (VWEHX) Net Asset

Track net asset change of Vanguard High-Yield Corporate fund (VWEHX)

Date	Net Asset
01/2010	$5.73B
11/2009	$5.55B
10/2009	$5.62B

More historic net asset information on Vanguard High-Yield Corporate Fund (VWEHX)

  

Vanguard High-Yield Corporate Fund (VWEHX) Portfolio Allocation

Track portfolio allocation change of Vanguard High-Yield Corporate fund (VWEHX)

Date	Cash	Stock	Bond	Other
09/2009	3.39%	0%	95.12%	1.48%
07/2009	4.42%	0%	94.43%	1.14%
06/2009	4.38%	0%	95.05%	0.58%

Click here to see more historic asset allocation information on Vanguard High-Yield Corporate Fund (VWEHX)

  

Most Recent Top 10 Holdings in Vanguard High-Yield Corporate Fund (VWEHX)

Discover what Vanguard High-Yield Corporate Fund (VWEHX) manager is buying

30-Sep-09 Ford Motor Bank Loan [1.16%] Chs / Cmnty Health Sys 8.875% [1.11%] Ford Motor Credit 7% [1.06%] Freeport-Mcmoran Copper & Gold 8.375% [1%] Charter Comms Oper 144A 10% [0.93%] HCA Inc 9.25% [0.92%] Aramark 8.5% [0.92%] Bk Amer Chrlt Nc Mtn 5.3% [0.91%] Citigroup Cap Xxi FRN [0.89%] Qwest 8.875% [0.86%]

31-Jul-09 Chs / Cmnty Health Sys 8.875% [1.19%] Ford Motor Bank Loan [1.19%] Ford Motor Credit 7% [1.08%] Freeport-Mcmoran Copper & Gold 8.375% [1.06%] HCA Inc 9.25% [0.99%] Charter Comms Oper 144A 10% [0.98%] Qwest 8.875% [0.9%] Bk Amer Chrlt Nc Mtn 5.3% [0.9%] Aramark 8.5% [0.88%] Nrg Engy 7.375% [0.88%]

30-Jun-09 Chs / Cmnty Health Sys 8.875% [1.22%] Freeport-Mcmoran Copper & Gold 8.375% [1.09%] Ford Motor Credit 7% [1.04%] Charter Comms Oper 144A 10% [1.02%] HCA INC [1.01%] Qwest 8.875% [0.94%] Nrg Engy 7.375% [0.93%] United Rentals North Amer 6.5% [0.93%] Bk Amer Chrlt Nc Mtn 5.3% [0.92%] Aramark 8.5% [0.91%]

Click here for Stock Holding Change Map in Vanguard High-Yield Corporate Fund (VWEHX)

  

Related books and products to Vanguard High-Yield Corporate Fund (VWEHX)

  

Latest News on Vanguard High-Yield Corporate (VWEHX)

See what is happening with Vanguard High-Yield Corporate Fund (VWEHX)

Are PIIGS Squealing In Your Portfolio? (at Minyanville.com) Mark Hulbert: Buying bonds when rates are low (at MarketWatch) After Big Year, Junk Bonds May Have Smaller Gains in 2010 (at CNBC) See more news on Vanguard High-Yield Corporate Fund (VWEHX)

 

Books and Resources

 

 

See more information on Vanguard High-Yield Corporate Fund (VWEHX)

• Vanguard High-Yield Corporate Fund Insights
• Vanguard High-Yield Corporate Fund Performance Data
• Vanguard High-Yield Corporate Fund News
• Vanguard High-Yield Corporate Fund Score Explaination
• Vanguard High-Yield Corporate Fund Manager Information
• Historic Vanguard High-Yield Corporate Fund Asset Allocation Report
• Historic Vanguard High-Yield Corporate Fund Top 10 Holding Tracking
• Historic Vanguard High-Yield Corporate Fund Asset Under Management Tracking