Vanguard Municipal Bond Funds

Vanguard Municipal Bond Funds See the inside front cover for important information about access to your fund’s annual and semiannual shareholder reports. Contents About Your Fund’s Expenses 1 Short-Term Tax-Exempt Fund 3 Limited-Term Tax-Exempt Fund 51 Intermediate-Term Tax-Exempt Fund 145 Long-Term Tax-Exempt Fund 285 High-Yield Tax-Exempt Fund 326 Trustees Approve Advisory … ................
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