Vanguard Launches Three New ETFs Focused on U.S. Government Bonds

VALLEY FORGE, Pa., July 9, 2025 /PRNewswire/ -- Vanguard today launched Vanguard Government Securities Active ETF (VGVT), an actively managed ETF, and two index ETFs, Vanguard Total Treasury ETF (VTG) and Vanguard Total Inflation-Protected Securities ETF (VTP), all managed by Vanguard Fixed Income Group.

"The actively managed VGVT leverages our fixed income expertise to deliver a flexible, high-quality portfolio of U.S. government and agency bonds, along with select securitized credit," said Roger Hallam, Global Head of Rates, Vanguard Fixed Income Group. "VGVT is built to serve as a resilient core bond holding—one that adapts to changing market conditions while preserving the diversification and risk-buffering qualities investors expect from Treasuries. It's a compelling option for those seeking to balance equity exposure and pursue long-term portfolio stability through active management."

VGVT seeks to outperform the broad Treasury market while maintaining the diversification benefits that Treasuries offer. VGVT's expense ratio is 0.10%¹ and marks the 8^th active ETF in Vanguard's bond line-up.

Further strengthening Vanguard's index fixed income roster, VTG offers a low-cost, comprehensive index solution for broad exposure to the U.S. Treasury market, the largest and most liquid segment of fixed income. With an expense ratio of 0.03%¹, this ETF simplifies all-curve exposure, making it an efficient solution for investors seeking broad Treasury market coverage. VTP provides long-term investors with a robust tool designed to protect their portfolios from inflation risk. It offers exposure to the full spectrum of the U.S. TIPS market, complementing our existing Vanguard Short-Term Inflation Protected ETF (VTIP). VTP has a broader investment universe and a longer duration profile, launching with an expense ratio of 0.05%¹. It could be a valuable addition for those looking to hedge against inflation over extended periods.

VTG and VTP demonstrate Vanguard's decades of experience and deep expertise in the Treasury markets and with inflation-protected investment vehicles. Both index ETFs provide investors with access to our world-class bond index fixed income team through an all-in-one solution to two key segments of the Treasury market.

The launch of VTG, VTP and VGVT brings the total number of fixed income bond ETFs offered by Vanguard Fixed Income Group to 36, of which 28 are index.

An experienced fixed income manager

For over four decades, Vanguard Fixed Income Group has distinguished itself with deep investment capabilities, disciplined security selection processes, and rigorous risk management techniques, resulting in consistent historical long-term performance² across both active and index fixed income portfolios. Vanguard's client-centric approach has driven continuous investment in bond portfolio management, ensuring a carefully curated lineup designed to meet evolving investor needs and deliver long-term value. Vanguard offers a comprehensive active and index fixed income product lineup, covering Treasuries, TIPS, agency bonds, mortgage-backed securities, corporate credit, municipal debt, sovereign bonds, emerging markets debt, and money markets. This diverse range of strategies allows investors to tailor their portfolios to specific financial goals and risk tolerance.

¹The expense ratio information shown reflects estimated amounts for the current fiscal year.
² For the ten-year period ended March 31, 2025, 70 of 100 bond funds outperformed their peer group averages. Results will vary for other time periods. Only funds with a minimum quarter-, ten-year history were included in the comparison. (Source: LSEG Lipper) Note that the competitive performance data shown represent past performance, which is not a guarantee of future results, and that all investments are subject to risks. For the most recent performance, visit our website at www.vanguard.com/performance.

About Vanguard
Founded in 1975, Vanguard is one of the world's leading investment management companies. The firm offers investments, advice, and retirement services to individual investors, institutions, and financial professionals. Vanguard operates under a unique, investor-owned structure where Vanguard fund shareholders own the funds, which in turn own Vanguard. As such, Vanguard adheres to a simple purpose: To take a stand for all investors, to treat them fairly, and to give them the best chance for investment success. For more information, visit vanguard.com.

For more information about Vanguard funds and Vanguard ETFs, visit vanguard.com to obtain a prospectus or, if available, a summary prospectus. Investment objectives, risks, charges, expenses, and other important information are contained in the prospectus; read and consider it carefully before investing.

Vanguard ETF Shares are not redeemable with the issuing Fund other than in very large aggregations worth millions of dollars. Instead, investors must buy and sell Vanguard ETF Shares in the secondary market and hold those shares in a brokerage account. In doing so, the investor may incur brokerage commissions and may pay more than net asset value when buying and receive less than net asset value when selling.

All investing is subject to risk, including the possible loss of the money you invest. 
Past performance is not a guarantee of future results.
Diversification does not ensure a profit or protect against a loss.

While U.S. Treasury or government agency securities provide substantial protection against credit risk, they do not protect investors against price changes due to changing interest rates. Unlike stocks and bonds, U.S. Treasury bills are guaranteed as to the timely payment of principal and interest.

The Total Inflation-Protected Securities ETF invests in bonds that are backed by the full faith and credit of the federal government and whose principal is adjusted periodically based on inflation. The fund is subject to interest rate risk because although inflation-indexed bonds seek to provide inflation protection, their prices may decline when interest rates rise and vice versa. The fund's quarterly income distributions are likely to fluctuate considerably more than the income distributions of a typical bond fund. Income fluctuations associated with changes in interest rates are expected to be low; however, income fluctuations associated with changes in inflation are expected to be high. Overall, investors can expect income fluctuations to be high for the fund/funds.

Bond funds are subject to the risk that an issuer will fail to make payments on time, and that bond prices will decline because of rising interest rates or negative perceptions of an issuer's ability to make payments. Investments in bonds are subject to interest rate, credit, and inflation risk.
© 2025 The Vanguard Group, Inc. All rights reserved.

Vanguard Marketing Corporation, Distributor.

SOURCE Vanguard