VWIUX Vanguard Interm-Term Tx-Ex Adm Forecast, Technical & Fundamental Analysis

The investment seeks to provide a moderate and sustainable level of current income that is exempt from federal personal income taxes. Under normal circumstances, the fund invests at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in securities whose income is exempt from federal income tax. It invests at least 75% of its assets in municipal bonds in one of the top three credit rating categories as determined by a nationally recognized statistical rating organization or, if unrated, determined to be of comparable quality by the advisor.