Vanguard Long-Term Tax-Exempt Bond ETF Shares (Vanguard Long-Term Tax-Exempt B) ETF

The index tracks the performance of a benchmark index that measures the investment-grade segment of the U.S. municipal bond market with remaining maturities greater than ten years. The fund invests at least 80% of the fund's assets will be invested in securities held in the index. The fund is non-diversified.