Vanguard Global Credit Bond Admiral (Vanguard Global Credit Bond Fun) fond

Under normal circumstances, the fund invests at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in bonds. It primarily invests in corporate and non-corporate investment-grade bonds that the fund’s advisor believes will generate a moderate and sustainable level of current income. It may invest up to 10% of its total assets in below-investment-grade bonds.