
A portion of these funds' income, however, may be subject to the federal alternative minimum tax (AMT). Dividends from the Schwab Municipal Money Fund ™ and the state specific funds typically are exempt from federal income tax dividends from state specific funds typically are exempt from the respective state's income tax as well.Absent such waivers, the fund’s yield would have been lower. The 7-Day Yield is the average income paid out over the previous seven days assuming interest income is not reinvested and it reflects the effect of all applicable waivers.The Fund reserves the right to do the following: involuntarily redeem a shareholder's shares after providing 60 days' written notice if the shareholder does not satisfy the eligibility requirements for a retail money market fund (i.e., the shareholder is not a natural person) and deny purchase of Fund shares to investors who do not satisfy the eligibility requirements to invest in a retail money market fund (i.e., investor is not a natural person). Qualifies as a “retail money market fund,” which means it is available for investment by natural persons only.Fund expenses and other fees may apply.Capital gains are not exempt from Federal taxes.


The Fund may impose a fee upon the sale of your shares or may temporarily suspend your ability to sell shares if the Fund's liquidity falls below required minimums because of market conditions or other factors.

You could lose money by investing in the Fund. Vanguard Municipal Money Market Fund: The Fund is only available to retail investors (natural persons). Sources: Vanguard and Morningstar, Inc., as of December 31, 2020.Īll investing is subject to risk, including the possible loss of the money you invest. The competitive performance data shown represent past performance, which is not a guarantee of future results.

Source: Lipper, a Thomson Reuters Company. Only mutual funds with a minimum 10-year history were included in the comparison. Results will vary for other time periods. *For the 10-year period ended December 31, 2021, 7 of 7 Vanguard money market funds, 58 of 74 Vanguard bond funds, 21 of 24 Vanguard balanced funds, and 89 of 131 Vanguard stock funds-for a total of 175 of 236 Vanguard funds-outperformed their Lipper peer-group average.
