Vanguard Core-Plus Bond Fund Admiral Shares is a mutual fund designed to provide investors with total return while generating a moderate to high level of current income. This fund chiefly invests in a diverse portfolio of primarily investment-grade U.S. bonds, while also incorporating selective exposure to below-investment-grade securities and debt issued by foreign entities. Its strategy blends U.S. Treasuries, government-related bonds, securitized assets like mortgage-backed securities, and corporate bonds, offering broad credit and sector diversification. Notably, the portfolio's credit quality and interest rate sensitivity are considered medium to moderate, which can appeal to investors seeking balanced risk within the intermediate-term bond space. A combination of low expense ratios and efficient portfolio management positions the fund as a cost-effective solution relative to industry peers. Overall, Vanguard Core-Plus Bond Fund Admiral Shares plays a pivotal role for those aiming to balance income generation and risk mitigation through a comprehensive approach to the fixed income market.