The Process Pillar is our assessment of how sensible, clearly defined, and repeatable VWEHX’s performance objective and investment process is for both security selection and portfolio construction.
People Pillar
The People Pillar is our evaluation of the VWEHX management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.
Parent Pillar
The Parent Pillar is our rating of VWEHX’s parent organization’s priorities and whether they’re in line with investors’ interests.
Remains a solid pick despite personnel changes.
Tom Murphy
Senior Analyst
Summary
Vanguard High-Yield Corporate’s well-constructed and relatively conservative approach helps it stand out from peers despite recent team changes.