Vanguard Municipal Bond Funds

For the fiscal year ended October 31, 2018, the funds’ expense ratios were: for the Short-Term Tax-Exempt Fund, 0.17% for Investor Shares and 0.09% for Admiral Shares; for the Limited-Term Tax-Exempt Fund, 0.17% for Investor Shares and 0.09% for Admiral Shares; for the ................
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