Vanguard aims to enhance its fixed income offerings with a new actively managed ETF.
Vanguard's New ETF Launch: Vanguard is set to introduce the Vanguard High-Yield Active ETF (VGHY), aimed at income-focused investors, which will invest primarily in higher-yielding corporate bonds, particularly "junk bonds."
Active Management and Expense Ratio: Unlike its traditional passively managed bond ETFs, VGHY will be actively managed with an annual expense ratio of 0.22%, and it will invest at least 80% of its net assets in corporate bonds rated below Baa by Moody's.
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Ford's Earnings Charge: Ford Motor is incurring another charge against its earnings, specifically related to its pension obligations.
Impact on Financials: This charge is expected to affect the company's financial performance, highlighting ongoing challenges in managing pension costs.

Bond Market Performance: The bond market experienced positive returns in 2025, which complemented the strong gains in the equity market.
Future Outlook: It is anticipated that the bond market will not replicate its 2025 performance in 2026.
Vanguard's Investment Offerings: Vanguard is recognized for its extensive range of ETFs, making it a strong choice for long-term investors seeking diversified, low-cost investment options, particularly in large-cap and growth stocks.
Top ETFs for Long-Term Investment: The Vanguard S&P 500 ETF and Vanguard Total Stock Market ETF are highlighted as ideal long-term holdings due to their potential for capital growth, with the latter providing broader market exposure.
Growth and Dividend Strategies: The Vanguard Growth ETF focuses on high-potential growth companies, while the Vanguard Dividend Appreciation ETF targets established firms with a history of increasing dividends, offering stability and consistent returns.
Importance of Bonds: Despite the focus on equities, the Vanguard Total Bond Market ETF is emphasized for its role in providing income, stability, and diversification within a long-term investment portfolio.
Portfolio Performance: The traditional 60% stocks and 40% bonds portfolio is up approximately 11% as of late 2025, primarily driven by strong stock market performance.
Positive Trend: This marks the third consecutive year of positive returns for the 60/40 portfolio, following a challenging period in 2022 when both stocks and bonds experienced significant declines.

Hassett's Position on Fed Independence: Kevin Hassett, a leading candidate to succeed Jay Powell as Federal Reserve Chair, emphasized that while he would consider President Trump's economic views, the Fed's independence and decision-making authority would remain intact.
Trump's Influence on Monetary Policy: Hassett acknowledged Trump's strong opinions on monetary policy but clarified that the Federal Open Market Committee (FOMC) would ultimately make interest rate decisions, and Trump's recommendations would not carry the same weight as those of committee members.
Dialogue with the President: Hassett expressed his willingness to engage in daily discussions with Trump, highlighting the importance of dialogue while maintaining that policymaking would be based on data and consensus among FOMC members.
Candidates for Fed Chair: Alongside Hassett, former Fed governor Kevin Warsh is also considered a primary candidate for the Fed Chair position, as Trump continues to evaluate potential nominees ahead of Powell's term expiration in May.









