Vanguard Municipal Bond Funds - Vanguard Tax-Exempt Bond ETF

Vanguard Municipal Bond Funds - Vanguard Tax-Exempt Bond ETF is an exchange traded fund launched and managed by The Vanguard Group, Inc. The fund invests in fixed income markets of the United States. It invests in U.S. dollar denominated tax exempt investment-grade municipal bonds issued by state or local governments or agencies with a minimum term to maturity greater than one calendar month. The fund seeks to track the performance of the Standard & Poor’s National AMT-Free Municipal Bond Index, by using representative sampling methodology. Vanguard Municipal Bond Funds - Vanguard Tax-Exempt Bond ETF was formed on August 21, 2015 and is domiciled in the United States.