VTEAX
VANGUARD TAX-EXEMPT BOND INDEX FUND ADMIRAL SHARES
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I don't see TVBTLX on Morningstar to investigate it. VTAPX is a bond fund though. Imo, bonds are useful for diversification from equities and to potentially lower portfolio volatility. Not really a tax bracket consideration. The 10 year trailing return for VTEAX is around 2%. Not great. I agree with your thought process with regards to that fund.
At the 12% fed tax bracket, do VTAPX and TVBTLX make sense as low-volatility assets in this case? I'd thought about VTEAX, but I ran it through a tax equivalent yield calculator and don't think the juice is worth the squeeze without being in a significantly higher tax bracket.
FICNX's dividend income is not taxed federally (because of the municipal bonds), so I don't think it makes as much sense to have this in a tax-sheltered account like a 403b. You would be better off allocating that to VBTIX. Also FICNX has a high expense ratio (0.45). If you end up opening a taxable brokerage account, then FICNX makes more sense there, but I would still pick something like VTEAX which is tax-exempt and has a much lower expense ratio.
Vanguard has a variety and just launched a short term tax free bond fund VTE. They also have a variety of other longer duration funds. VWAHX is high yield, VTEAX, e.t.c. Expense ratios typically around 0.09% Vanguard is the benchmark for boomer shit.
I was bitten by this capital gains distribution and have the same question. Soo..VTCLX, VSTAX, VWITX, VTEAX based on: https://www.thebalance.com/best-vanguard-funds-taxable-accounts-4121221
It sounds like principle preservation is important in this situation, so maybe consider one of the lower risk [LifeStrategy funds](https://investor.vanguard.com/investment-products/mutual-funds/life-strategy-funds) by Vanguard. To reduce taxes, you could instead make your own three fund portfolio and use VTEAX for the bond portion.