VGVT

VGVT seeks to outperform the Bloomberg Government Total Return Index, which is comprimised of the full Treasury and agency debenture universe. Vanguard's actively managed fixed income funds follow a portfolio manager-driven process that uses both top-down and bottom-up inputs. Portfolio managers are responsible for portfolio construction and strategy, leveraging the top-down insights of Vanguard's senior investment leaders and Vanguard's Investment Strategy Group, the bottom-up insights of the sector teams, and the relative value views across fixed income sectors. Risk optimization measures are present throughout the investment process, and the Senior Investment Committee provides governance and oversight for the entire lineup. Securities are sold based on the advisor's judgments about a security's fundamentals, technical factors, valuation, and contribution to the overall portfolio.