Vanguard Target Maturity 2032 Corporate Bond ETF
Vanguard Target Maturity 2032 Corporate Bond ETF is an exchange-traded fund (ETF) from Vanguard, traded under the ticker VBCF (ISIN US9219388587). It lets you buy a basket of holdings in a single trade, spreading your money across them rather than one company. In plain terms it is about lending to governments and companies in return for regular interest, which tends to be steadier than shares but grows more slowly, spread across its target market. Rather than a manager picking stocks, it simply replicates the ICE 2032 Maturity US Corporate Constrained Index index — the passive, low-cost approach, and its largest holdings include Wells Fargo & Co., JPMorgan Chase & Co. and Bank of America Corp.. It holds around 367 positions (the ten largest ≈ 10.6%), spreading risk so no single holding decides your outcome. Its biggest country exposures are ~99.5% United States. Its heaviest sectors are ~38.7% Financials and ~10.6% Technology. Funds like this are often used as the steadier, lower-swing part of a portfolio — the ballast that cushions the ups and downs of shares. Its ongoing charge (TER) is 0.08% a year — about €8 a year on a €10,000 holding, taken automatically from the fund. It holds the underlying investments directly (physical replication); it is domiciled in the United States and trades in USD. Its price has swung about 4.3% over the past year, which describes how much its price tends to move rather than whether it is good. As with any investment, its value can go down as well as up, and past performance is not a guide to future results. (Fund data sourced from Vanguard.)
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About this fund
The ICE 2032 Maturity US Corporate Constrained Index index is the benchmark this fund aims to copy. By holding it, this fund gives you a stake in around 367 companies across United States in a single purchase.
The fund actually buys every share in the index it tracks (full replication).
Fund facts
Performance
Growth of $100 invested — both lines start at $100.
Compared with the average fund tracking the same index — our own data, not the licensed index itself.
How bumpy has it been?
What's inside
By sector ?
The 10 biggest holdings make up 7.9% of the fund — the rest is spread across roughly 269 more companies.
Top 10 holdings
| # | Company | Weight |
|---|---|---|
| 7 | AerCap Ireland Capital DAC / AerCap Global Aviation Trust | 1.0% |
| 11 | Wells Fargo & Co. | 1.0% |
| 12 | Verizon Communications Inc. | 1.0% |
| 16 | Goldman Sachs Group Inc. | 0.9% |
| 17 | Meta Platforms Inc. | 0.9% |
| 19 | Bank of America Corp. | 0.8% |
| 23 | Sprint Capital Corp. | 0.7% |
| 30 | Haleon US Capital LLC | 0.6% |
| 31 | GE HealthCare Technologies Inc. | 0.5% |
| 32 | BP Capital Markets America Inc. | 0.5% |
Where to buy this fund
Set from your language & location — change it if it's wrong.
Where it trades
| Exchange | Ticker | Currency | |
|---|---|---|---|
| NYSE | VBCF | USD | ★ Primary |
| Nasdaq | VBCF | USD | |
| NYSE Arca | VBCF | USD | |
| OC | VBCF | USD | |
| OD | VBCF | USD | |
| UA | VBCF | USD | |
| UB | VBCF | USD | |
| UC | VBCF | USD | |
| UD | VBCF | USD | |
| UF | VBCF | USD | |
| UM | VBCF | USD | |
| US | VBCF | USD | |
| UX | VBCF | USD | |
| VF | VBCF | USD | |
| VG | VBCF | USD | |
| VJ | VBCF | USD | |
| VK | VBCF | USD | |
| VL | VBCF | USD | |
| VP | VBCF | USD | |
| VY | VBCF | USD |
For serious comparison — full data holdings, percentiles, advanced risk, tilt, flows
Full holdings
As of 2026-07-07 · the fund's own published holdings.
| # | Company | Weight |
|---|---|---|
| 7 | AerCap Ireland Capital DAC / AerCap Global Aviation Trust | 1.0% |
| 11 | Wells Fargo & Co. | 1.0% |
| 12 | Verizon Communications Inc. | 1.0% |
| 16 | Goldman Sachs Group Inc. | 0.9% |
| 17 | Meta Platforms Inc. | 0.9% |
| 19 | Bank of America Corp. | 0.8% |
| 23 | Sprint Capital Corp. | 0.7% |
| 30 | Haleon US Capital LLC | 0.6% |
| 31 | GE HealthCare Technologies Inc. | 0.5% |
| 32 | BP Capital Markets America Inc. | 0.5% |
| 36 | Rogers Communications Inc. | 0.5% |
| 43 | Synopsys Inc. | 0.5% |
| 44 | Altria Group Inc. | 0.5% |
| 46 | Coca-Cola Co. | 0.4% |
| 49 | UnitedHealth Group Inc. | 0.4% |
| 50 | Micron Technology Inc. | 0.4% |
| 51 | Paychex Inc. | 0.4% |
| 54 | VICI Properties LP | 0.4% |
| 55 | S&P Global Inc. | 0.4% |
| 57 | Ford Motor Credit Co. LLC | 0.4% |
| 58 | EOG Resources Inc. | 0.4% |
| 61 | Alabama Power Co. | 0.4% |
| 62 | Lloyds Banking Group plc | 0.4% |
| 63 | Bristol-Myers Squibb Co. | 0.4% |
| 64 | ALPHABET INC | 0.4% |
| 68 | Duke Energy Corp. | 0.4% |
| 69 | Corebridge Financial Inc. | 0.4% |
| 71 | QUALCOMM Inc. | 0.4% |
| 72 | Pfizer Inc. | 0.4% |
| 73 | Sanofi SA | 0.4% |
| 76 | JPMorgan Chase & Co. | 0.4% |
| 77 | Kinder Morgan Inc./DE | 0.4% |
| 78 | Honda Motor Co. Ltd. | 0.3% |
| 79 | American Express Co. | 0.3% |
| 80 | General Motors Co. | 0.3% |
| 83 | Amazon.com Inc. | 0.3% |
| 84 | Ford Motor Co. | 0.3% |
| 89 | Workday Inc. | 0.3% |
| 91 | Dominion Energy Inc. | 0.3% |
| 92 | Rio Tinto Finance USA plc | 0.3% |
| 93 | Cisco Systems Inc. | 0.3% |
| 94 | Occidental Petroleum Corp. | 0.3% |
| 95 | Equinix Inc. | 0.3% |
| 96 | Williams Cos. Inc. | 0.3% |
| 97 | PayPal Holdings Inc. | 0.3% |
| 98 | Royal Bank of Canada | 0.3% |
| 99 | Canadian Imperial Bank of Commerce | 0.3% |
| 102 | Berkshire Hathaway Finance Corp. | 0.3% |
| 103 | HSBC Holdings plc | 0.3% |
| 104 | Johnson & Johnson | 0.3% |
| 105 | Starbucks Corp. | 0.3% |
| 106 | Union Pacific Corp. | 0.3% |
| 107 | Florida Power & Light Co. | 0.3% |
| 108 | Cigna Group | 0.3% |
| 109 | Walmart Inc. | 0.3% |
| 110 | RTX Corp. | 0.3% |
| 111 | Charter Communications Operating LLC / Charter Communications Operating Capital | 0.3% |
| 112 | Unilever Capital Corp. | 0.3% |
| 114 | O'Reilly Automotive Inc. | 0.3% |
| 115 | TSMC Arizona Corp. | 0.3% |
| 117 | Ares Capital Corp. | 0.3% |
| 118 | Novartis Capital Corp. | 0.3% |
| 119 | Keybank National Assn. | 0.3% |
| 120 | Blackstone Private Credit Fund | 0.3% |
| 121 | ArcelorMittal SA | 0.3% |
| 123 | BHP Billiton Finance USA Ltd. | 0.3% |
| 126 | Healthpeak OP LLC | 0.3% |
| 127 | CVS Health Corp. | 0.3% |
| 128 | NXP BV / NXP Funding LLC / NXP USA Inc. | 0.3% |
| 129 | Northern Trust Corp. | 0.3% |
| 132 | Bio-Rad Laboratories Inc. | 0.3% |
| 133 | Bank of New York Mellon Corp. | 0.3% |
| 135 | Ares Strategic Income Fund | 0.3% |
| 137 | Boston Properties LP | 0.2% |
| 138 | TELUS Corp. | 0.2% |
| 139 | Lockheed Martin Corp. | 0.2% |
| 141 | Mizuho Financial Group Inc. | 0.2% |
| 143 | Charles Schwab Corp. | 0.2% |
| 144 | ING Groep NV | 0.2% |
| 145 | JBS NV/JBS USA Foods Group Holdings Inc./JBS USA Food Co. Holdings | 0.2% |
| 146 | T-Mobile USA Inc. | 0.2% |
| 147 | Kenvue Inc. | 0.2% |
| 148 | Suzano Austria GmbH | 0.2% |
| 149 | Blackrock Inc. | 0.2% |
| 151 | Constellation Brands Inc. | 0.2% |
| 153 | AutoZone Inc. | 0.2% |
| 154 | Global Payments Inc. | 0.2% |
| 155 | Oncor Electric Delivery Co. LLC | 0.2% |
| 157 | Oracle Corp. | 0.2% |
| 158 | Xcel Energy Inc. | 0.2% |
| 159 | AT&T Inc. | 0.2% |
| 160 | ONEOK Inc. | 0.2% |
| 161 | Appalachian Power Co. | 0.2% |
| 162 | Newmont Corp. | 0.2% |
| 163 | Eaton Corp. | 0.2% |
| 164 | Nomura Holdings Inc. | 0.2% |
| 166 | Credit Suisse USA Inc. | 0.2% |
| 168 | Ameren Illinois Co. | 0.2% |
| 170 | Dell International LLC / EMC Corp. | 0.2% |
| 171 | McKesson Corp. | 0.2% |
| 172 | Westpac Banking Corp. | 0.2% |
| 173 | Automatic Data Processing Inc. | 0.2% |
| 174 | Target Corp. | 0.2% |
| 175 | PepsiCo Inc. | 0.2% |
| 176 | Home Depot Inc. | 0.2% |
| 177 | KLA Corp. | 0.2% |
| 178 | MPLX LP | 0.2% |
| 179 | Diageo Capital plc | 0.2% |
| 180 | Toyota Motor Credit Corp. | 0.2% |
| 181 | America Movil SAB de CV | 0.2% |
| 182 | Waste Management Inc. | 0.2% |
| 184 | Dick's Sporting Goods Inc. | 0.2% |
| 185 | PNC Financial Services Group Inc. | 0.2% |
| 186 | CSX Corp. | 0.2% |
| 188 | Zoetis Inc. | 0.2% |
| 189 | Pacific Gas and Electric Co. | 0.2% |
| 191 | Nutrien Ltd. | 0.2% |
| 192 | AutoNation Inc. | 0.2% |
| 194 | Eversource Energy | 0.2% |
| 195 | Clorox Co. | 0.2% |
| 196 | Edison International | 0.2% |
| 197 | Ally Financial Inc. | 0.2% |
| 198 | Alexandria Real Estate Equities Inc. | 0.2% |
| 199 | Philip Morris International Inc. | 0.2% |
| 201 | Tyco Electronics Group SA | 0.2% |
| 203 | Bank of Nova Scotia | 0.2% |
| 205 | Canadian National Railway Co. | 0.2% |
| 206 | Southwest Gas Corp. | 0.2% |
| 207 | Intel Corp. | 0.2% |
| 208 | Lowe's Cos. Inc. | 0.2% |
| 209 | Valero Energy Corp. | 0.2% |
| 210 | NetApp Inc. | 0.2% |
| 211 | Costco Wholesale Corp. | 0.2% |
| 212 | ConocoPhillips Co. | 0.2% |
| 213 | Ralph Lauren Corp. | 0.2% |
| 214 | EIDP Inc. | 0.2% |
| 215 | General Electric Co. | 0.2% |
| 216 | Extra Space Storage LP | 0.2% |
| 217 | Apple Inc. | 0.2% |
| 218 | Aon Corp. / Aon Global Holdings plc | 0.2% |
| 219 | Nucor Corp. | 0.2% |
| 220 | Flex Ltd. | 0.2% |
| 221 | Arthur J Gallagher & Co. | 0.2% |
| 222 | Capital One Financial Corp. | 0.2% |
| 223 | Norfolk Southern Corp. | 0.2% |
| 224 | Baxter International Inc. | 0.2% |
| 225 | Ameriprise Financial Inc. | 0.2% |
| 226 | CME Group Inc. | 0.2% |
| 227 | AEP Texas Inc. | 0.2% |
| 228 | Howmet Aerospace Inc. | 0.2% |
| 229 | WRKCO Inc. | 0.2% |
| 230 | Essex Portfolio LP | 0.2% |
| 231 | Church & Dwight Co. Inc. | 0.2% |
| 232 | Wisconsin Power and Light Co. | 0.2% |
| 233 | AvalonBay Communities Inc. | 0.2% |
| 234 | Keurig Dr Pepper Inc. | 0.2% |
| 235 | Woodside Finance Ltd. | 0.2% |
| 236 | Carlisle Cos. Inc. | 0.2% |
| 237 | Republic Services Inc. | 0.2% |
| 238 | Sutter Health | 0.2% |
| 239 | Allegion US Holding Co. Inc. | 0.2% |
| 240 | Exelon Corp. | 0.2% |
| 241 | Southern Co. Gas Capital Corp. | 0.2% |
| 242 | Progressive Corp. | 0.2% |
| 243 | Johnson Controls International plc / Tyco Fire & Security Finance SCA | 0.2% |
| 244 | HF Sinclair Corp. | 0.2% |
| 245 | San Diego Gas & Electric Co. | 0.2% |
| 246 | American Water Capital Corp. | 0.2% |
| 248 | Advanced Micro Devices Inc. | 0.2% |
| 249 | Air Lease Corp. | 0.2% |
| 250 | Cintas Corp. No 2 | 0.2% |
| 252 | Entergy Louisiana LLC | 0.2% |
| 254 | Quanta Services Inc. | 0.2% |
| 255 | Sherwin-Williams Co. | 0.2% |
| 256 | Take-Two Interactive Software Inc. | 0.2% |
| 257 | Sun Communities Operating LP | 0.2% |
| 258 | Invitation Homes Operating Partnership LP | 0.2% |
| 260 | Hyatt Hotels Corp. | 0.2% |
| 261 | American Homes 4 Rent LP | 0.2% |
| 262 | Barclays plc | 0.2% |
| 263 | Fairfax Financial Holdings Ltd. | 0.2% |
| 264 | Coca-Cola Femsa SAB de CV | 0.2% |
| 265 | Leidos Inc. | 0.2% |
| 267 | Tapestry Inc. | 0.2% |
| 268 | Ventas Realty LP | 0.2% |
| 270 | McDonald's Corp. | 0.2% |
| 271 | Triton Container International Ltd. / TAL International Container Corp. | 0.2% |
| 272 | Fidelity National Information Services Inc. | 0.2% |
| 273 | Dollar General Corp. | 0.2% |
| 274 | GLP Capital LP / GLP Financing II Inc. | 0.2% |
| 275 | Weyerhaeuser Co. | 0.2% |
| 276 | US Bancorp | 0.2% |
| 277 | CenterPoint Energy Houston Electric LLC | 0.2% |
| 278 | CenterPoint Energy Resources Corp. | 0.2% |
| 279 | Toronto-Dominion Bank | 0.2% |
| 280 | Moody's Corp. | 0.2% |
| 281 | Simon Property Group LP | 0.2% |
| 282 | Mitsubishi UFJ Financial Group Inc. | 0.2% |
| 283 | Manulife Financial Corp. | 0.1% |
| 284 | Archer-Daniels-Midland Co. | 0.1% |
| 285 | Host Hotels & Resorts LP | 0.1% |
| 286 | Eli Lilly & Co. | 0.1% |
| 287 | Kraft Heinz Foods Co. | 0.1% |
| 288 | Merck & Co. Inc. | 0.1% |
| 289 | Fifth Third Bank NA | 0.1% |
| 290 | Realty Income Corp. | 0.1% |
| 291 | Ecolab Inc. | 0.1% |
| 292 | Laboratory Corp. of America Holdings | 0.1% |
| 293 | American Tower Corp. | 0.1% |
| 294 | Genuine Parts Co. | 0.1% |
| 295 | Amgen Inc. | 0.1% |
| 296 | Suncor Energy Inc. | 0.1% |
| 297 | Mondelez International Inc. | 0.1% |
| 298 | Citigroup Inc. | 0.1% |
| 299 | HP Inc. | 0.1% |
| 300 | Deutsche Telekom International Finance BV | 0.1% |
| 301 | Stanley Black & Decker Inc. | 0.1% |
| 303 | Broadcom Inc. | 0.1% |
| 304 | General Motors Financial Co. Inc. | 0.1% |
| 305 | Air Products and Chemicals Inc. | 0.1% |
| 306 | Comcast Corp. | 0.1% |
| 308 | Georgia Power Co. | 0.1% |
| 310 | Citizens Financial Group Inc. | 0.1% |
| 311 | Fifth Third Bancorp | 0.1% |
| 312 | Walt Disney Co. | 0.1% |
| 313 | Duke Energy Progress LLC | 0.1% |
| 314 | Kimco Realty OP LLC | 0.1% |
| 315 | Truist Financial Corp. | 0.1% |
| 316 | Sonoco Products Co. | 0.1% |
| 317 | Flowserve Corp. | 0.1% |
| 318 | Marriott International Inc./MD | 0.1% |
| 319 | Brookfield Finance I UK Plc / Brookfield Finance Inc. | 0.1% |
| 320 | BAT Capital Corp. | 0.1% |
| 321 | Procter & Gamble Co. | 0.1% |
| 322 | Morgan Stanley | 0.1% |
| 323 | Aptiv Swiss Holdings Ltd. | 0.1% |
| 324 | Colgate-Palmolive Co. | 0.1% |
| 325 | MetLife Inc. | 0.1% |
| 326 | International Business Machines Corp. | 0.1% |
| 327 | ConocoPhillips | 0.1% |
| 328 | Virginia Electric and Power Co. | 0.1% |
| 329 | American Electric Power Co. Inc. | 0.1% |
| 330 | Marsh & McLennan Cos. Inc. | 0.1% |
| 331 | Elevance Health Inc. | 0.1% |
| 332 | Sumitomo Mitsui Financial Group Inc. | 0.1% |
| 333 | NextEra Energy Capital Holdings Inc. | 0.1% |
| 334 | Mastercard Inc. | 0.1% |
| 335 | HCA Inc. | 0.1% |
| 336 | Hershey Co. | 0.1% |
| 337 | Chevron USA Inc. | 0.1% |
| 338 | Thermo Fisher Scientific Inc. | 0.1% |
| 339 | Motorola Solutions Inc. | 0.1% |
| 340 | VeriSign Inc. | 0.1% |
| 341 | ERP Operating LP | 0.1% |
| 342 | Wisconsin Electric Power Co. | 0.1% |
| 343 | American Honda Finance Corp. | 0.1% |
| 344 | RELX Capital Inc. | 0.1% |
| 345 | Roper Technologies Inc. | 0.1% |
| 347 | KeyCorp | 0.1% |
| 348 | John Deere Capital Corp. | 0.1% |
| 349 | ORIX Corp. | 0.1% |
| 350 | Welltower OP LLC | 0.1% |
| 351 | Brown & Brown Inc. | 0.1% |
| 352 | Boardwalk Pipelines LP | 0.1% |
| 353 | Public Service Electric and Gas Co. | 0.1% |
| 354 | DTE Electric Co. | 0.1% |
| 355 | Duke Energy Carolinas LLC | 0.1% |
| 356 | FactSet Research Systems Inc. | 0.1% |
| 357 | National Rural Utilities Cooperative Finance Corp. | 0.1% |
| 358 | Southern California Edison Co. | 0.1% |
| 359 | State Street Corp. | 0.1% |
| 360 | Cenovus Energy Inc. | 0.1% |
| 361 | Arrow Electronics Inc. | 0.1% |
| 362 | Waste Connections Inc. | 0.1% |
| 363 | CubeSmart LP | 0.1% |
| 364 | Union Electric Co. | 0.1% |
| 365 | Avery Dennison Corp. | 0.1% |
| 366 | Humana Inc. | 0.1% |
| 367 | Jefferies Financial Group Inc. | 0.1% |
How it ranks vs peers
Versus the Bonds · United States · USD ETFs we track.
Advanced risk
Concentration depth
Roughly 367 companies are held, but the largest names carry most of the weight — so it behaves like ~226 equal-sized positions.
Similar funds
We found 6 funds that do much the same job as this one. To pick them we matched this fund's asset class and region, then show how close each match is below.
| Vanguard Target Maturity 2032 Corporate Bond ETFVanguardYou're viewing | Schwab U.S. TIPS ETFSchwabBroader match | Schwab Intermediate-Term U.S. Treasury ETFSchwabBroader match | Schwab Short-Term U.S. Treasury ETFSchwabBroader match | State Street® SPDR® Portfolio Intermediate Term Corporate Bond ETFSPDRBroader match | State Street® SPDR® Portfolio High Yield Bond ETFSPDRBroader match | State Street® SPDR® Portfolio Long Term Treasury ETFSPDRBroader match | |
|---|---|---|---|---|---|---|---|
| Why it's similar | This is the fund on this page. | BondsUnknownPhysicalCheaper fee Tracks a different index in the same category. | BondsUnknownPhysicalCheaper fee Tracks a different index in the same category. | BondsUnknownPhysicalCheaper fee Tracks a different index in the same category. | BondsUnknownPhysicalCheaper fee Tracks a different index in the same category. | BondsUnknownPhysicalCheaper fee Tracks a different index in the same category. | BondsUnknownPhysicalCheaper fee Tracks a different index in the same category. |
| Index tracked | ICE 2032 Maturity US Corporate Constrained Index | Bloomberg U.S. Intermediate Corporate Bond Index | ICE BofA US High Yield Index | Bloomberg Long U.S. Treasury Index | |||
| Yearly fee (TER) | 0.08% | 0.03% | 0.03% | 0.03% | 0.04% | 0.05% | 0.03% |
| All-in cost | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Fund size | €0 | €14.4B | €11.7B | €11B | €9.9B | €9.8B | €9.3B |
| Domicile | United States | United States | United States | United States | United States | United States | United States |
| Replication | Physical (full) | Physical (full) | Physical (full) | Physical (full) | Physical (full) | Physical (full) | Physical (full) |
| 3-yr return p.a. | +0.7% | +0.4% | +0.2% | +1.6% | +1.2% | -3.8% | |
| 5-yr return p.a. | -3.4% | -3.0% | -1.2% | -2.0% | -2.8% | -9.5% | |
| # holdings | 367 | 49 | 102 | 97 | 5,195 | 1,929 | 101 |
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