VMBS's largest holdings are Vanguard Cmt Funds-Vanguard Market Liquidity Fund, Government National Mortgage Association, UMBS, TBA, UMBS, TBA, UMBS, TBA. The full top list is on this page.

How concentrated is VMBS?

The top 10 holdings are 7.3% of the fund, across 5026 positions.

The total expense ratio on record is 0.03%. That is cheaper than 95% of the 786 US-listed bond funds we track.

How similar is VMBS to the US total bond market (BND)?

16.7% of VMBS overlaps with the US total bond market (BND) by weight, across 3539 shared companies.

US-listed

VMBS

The Fund seeks to track the performance of a market-weighted mortgage-backed securities index.

Vanguard Mortgage-Backed Securities ETF

Vanguard

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Concentration

Well diversifiedtop 10 = 7.3%

diversifiedconcentrated

GROWTH · NAV (USD)rebased to 0%

Holdings

5026

as of 2026-02-28

Top 10

7.3%

TER

0.03%

cheaper than 95% of peers

Net assets

≈ US$17.3B

as filed

Largest

4.6%

P / E

–

Sections

Holdings as of 2026-02-28.

01Overview

the fund's regulatory facts

Fund currency

USD

Volatility 1Y

4.3%

How it tracks

Index, sampling

02Performance

price · as of 2026-07-23

-1.0%

-0.9%

-0.3%

YTD

-0.1%

+4.5%

03Holdings

50 largest · as of 2026-02-28

#	Company	Identifier	Weight
1	Vanguard Cmt Funds-Vanguard Market Liquidity Fund US	–	4.5
2	Government National Mortgage Association US	G2SF	0.4
3	UMBS, TBA US	US01F0206387	0.4
4	UMBS, TBA US	US01F0226344	0.3
5	UMBS, TBA US	FNCL	0.3
6	Ginnie Mae II Pool US	US3618N6BE68	0.3
7	Freddie Mac Pool US	US3132E0TL66	0.3
8	Government National Mortgage Association US	US3618N5A332	0.3
9	Freddie Mac US	US3132DWBP77	0.3
10	UMBS, TBA US	FNCL	0.3
11	Freddie Mac US	US3132DWA522	0.2
12	Fannie Mae US	US31418DYX47	0.2
13	Ginnie Mae II Pool US	US36179XHY58	0.2
14	Ginnie Mae II Pool US	US36179WDQ87	0.2
15	Government National Mortgage Association US	US3618N5VS51	0.2
16	Freddie Mac Pool US	US3132DWAF05	0.2
17	UMBS, TBA US	FNCL	0.2
18	Government National Mortgage Association US	US36179V4U15	0.2
19	Freddie Mac US	US3132DWBB81	0.2
20	Government National Mortgage Association US	US36179WVT25	0.2
21	Freddie Mac Pool US	US3132DWAW38	0.2
22	Government National Mortgage Association US	US36179VXX36	0.2
23	Fannie Mae US	US3140XGWW53	0.2
24	Freddie Mac US	US3142J6A604	0.2
25	UMBS, TBA US	US01F0306377	0.2
26	Fannie Mae US	US31418D2L54	0.2
27	Freddie Mac US	US3132DWNX73	0.2
28	Fannie Mae US	US31418DYB27	0.2
29	Government National Mortgage Association US	US3618N5A258	0.2
30	Government National Mortgage Association US	US36179XFG60	0.2
31	Ginnie Mae II Pool US	US3618N5RF86	0.2
32	Freddie Mac Pool US	US3132DWCN11	0.2
33	Freddie Mac Pool US	US3132DNU842	0.2
34	Fannie Mae Pool US	US31418DSH60	0.2
35	Fannie Mae US	US31418DWR96	0.2
36	Freddie Mac Pool US	US3132DWNJ89	0.2
37	Ginnie Mae II Pool US	US36179WJQ24	0.2
38	Freddie Mac US	US3132DWCT80	0.2
39	Government National Mortgage Association US	US3618N5C569	0.2
40	Fannie Mae US	US31418EDE77	0.2
41	Ginnie Mae II Pool US	US3618N5EU90	0.2
42	Freddie Mac Pool US	US3132DWML45	0.2
43	Government National Mortgage Association US	US36179YU693	0.2
44	Freddie Mac US	US3132DWMX82	0.2
45	Fannie Mae Pool US	US3140XLVX31	0.2
46	Ginnie Mae II Pool US	US3618N5MP14	0.2
47	Government National Mortgage Association US	US3618N5C643	0.2
48	Freddie Mac US	US3132DWBY84	0.2
49	Fannie Mae US	US31418FBP18	0.2
50	Fannie Mae US	US31418D4X74	0.2

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04Exposure

Bonds 95.6%Cash 4.4%

By country

USUnited States103.3%

CurrencyUSD 103.3%

05Similar funds

funds with comparable exposure

BND

the US total bond market (BND)

3539 shared companies

16.7%compare →

Ranked by how much of their holdings you already own through this fund. Overlap by weight where shown.

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