Vanguard Corporate Bond Funds

• The fiscal year ended January 31, 2019, was a challenging period for corporate bonds as investors turned more risk averse. Returns of the funds in this report ranged from –1.45% for Investor Shares of Vanguard Long-Term Investment-Grade Fund to 2.41% for Admiral Shares of Vanguard Intermediate-Term Investment-Grade Fund. The funds’ ................
................