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VCLT ETF Dividend History, Yield & Distributions

ETF Dividend History · Distribution Yield · Ex-Dividend Date · Payment Schedule

Financial ServicesAsset Management - BondsScore data as of Oct 21, 2026

VCLTVanguard Long-Term Corporate Bond ETF

Financial Services / Asset Management - Bonds

Low Priority

Above Peers

NeutralEdge 6/10
$69.82+$0.05 (+0.07%)

Latest quote

  • Momentum
    59
  • Value
    45
  • Quality
    65
  • Risk resilience
    56
  • Sentiment
    —
algovestiq.comScore data as of Oct 21, 2026

VCLT ETF dividend answer

Vanguard Long-Term Corporate Bond ETF (VCLT) has a trailing 12-month distribution yield of 5.41% and paid $3.78 per share over the trailing 12 months. The fund currently pays monthly distributions based on covered events. Its latest distribution was $0.3498 per share, with an ex-dividend date of Oct 1, 2026 and payment date of Oct 5, 2026. The next projected ex-dividend date is Oct 31, 2026. VCLT distribution history is shown as fund payout history, so corporate payout ratio and free cash flow coverage are excluded.

VCLT Distribution Snapshot

Yield, recent distribution history, cadence, and AIQ context stay together without treating ETF payouts like corporate earnings coverage.

Special distributions paid in the trailing 12 months: $0.3492 per share. These are excluded from the trailing yield and annual figures above, because a one-off payment is not recurring income.
Distribution history
142
distributions captured
Frequency
monthly
inferred from events
Trailing yield
5.41%
distribution income rate
Data completeness
96%
event fields populated

Next VCLT Distribution Date

When VCLT next goes ex-distribution, the amount where it has been declared, and whether that state is announced, projected or not yet known.

Projected next VCLT distribution

Projected $0.3498

Next ex-date status: projected. Next distribution amount status: projected. Projected values are inferred from recent cadence and are never presented as issuer announcements.

Next ex-date
Oct 31, 2026
projected
Next amount
$0.3498
projected
Last checked
Oct 20, 2026

Latest VCLT Distribution Dates

Oct 1, 2026

Review the latest distribution, yield, available trailing-year income, and distribution cadence before treating income as durable.

Distribution yield
5.41%
Trailing distribution yield
5.41%
Regular TTM distributions / latest price; specials excluded
TTM distributions
$3.78
-1.19% vs prior complete year
Latest distribution
$0.3498
Latest adjusted distribution
Frequency
monthly
Inferred from available events
Latest ex-dividend date
Oct 1, 2026
Calendar endpoint
Latest payment date
Oct 5, 2026
Calendar endpoint
Next ex-date
Projected: Oct 31, 2026
Never inferred as announced
Next distribution amount
Projected: $0.3498
Amount status independent from date

AIQ Distribution bridge

Quality65/100

Fund distributions should be read with holdings quality, liquidity, and asset-class exposure.

Value45/100

Distribution yield is more useful when valuation context is not stretched.

Risk resilience56/100

Lower drawdown and volatility can improve the dependability of an income allocation.

VCLT Dividend & Distribution History

Recent per-share distributions show payment cadence. Trailing-year and growth reads are shown only when the available rows cover a complete comparable window.

Distribution pattern

Active payer

Recent distribution payments are summarized as cadence signals. Exact rows remain below for auditability.

Distribution yield
5.41%
Trailing income rate
Distribution trend
Trailing income steady
-1.19% vs prior complete year
Cadence
monthly
Inferred from recent events
Event depth
142
Covered distribution rows
Recent distribution cadence
8 records
Mar 26
$0.3181
Apr 26
$0.3561
May 26
$0.3274
Jun 26
$0.3551
Jul 26
$0.3422
Aug 26
$0.3502
Sep 26
$0.3615
Oct 26
$0.3498

VCLT Annual Distribution History

2016 - 2026
11 plotted years

VCLT Distribution Growth

-1.19% 1Y
Trailing CAGR windows
Latest VCLT dividend dates
Ex-date
Oct 1, 2026
Record
Oct 1, 2026
Paid
Oct 5, 2026

Latest row amount $0.3498, event yield 6.04%.

Event field coverage
Declaration102/120
Record120/120
Payment120/120
Frequency120/120
History depth
120 rows
FMP dividend events via canonical L3
Data through
Oct 1, 2026
latest covered ex-date
Last checked
Oct 20, 2026
independent from event date
Date coverage
120/120 pay
120/120 record dates

This page labels the feed as recent history when multi-year rows, payment dates, or record dates are incomplete. Announced calendar dates are separated from completed distribution history.

VCLT Distribution Yield

How VCLT's trailing distribution yield is calculated, and how it differs from 30-Day SEC Yield and total return.

Yield methodology

Trailing 12-month distribution yield

Trailing distribution yield equals distributions paid over the trailing 12 months divided by the latest available market price. It is different from 30-Day SEC Yield, forward distribution yield, and total return.

Trailing distribution yield
5.41%
30-Day SEC Yield
—
Shown only when issuer data is available

Distribution variability

Why VCLT distributions can change

VCLT distributions reflect income from underlying holdings and may vary by quarter, market environment, fund composition, and fund policy.

Recent VCLT distribution payments

120 covered distributions
Showing latest 5 of 120 rows
Ex-dateDividendAdjustedYield at ex-dateFrequencyTTM adjustedDeclaredRecord datePayment date
Oct 1, 2026$0.3498
$0.3498
6.04%Monthly$4.13—Oct 1, 2026Oct 5, 2026
Sep 1, 2026$0.3615
$0.3615
5.76%Monthly$4.11—Sep 1, 2026Sep 3, 2026
Aug 3, 2026$0.3502
$0.3502
5.67%Monthly$4.08—Aug 3, 2026Aug 5, 2026
Jul 1, 2026$0.3422
$0.3422
5.57%Monthly$4.16—Jul 1, 2026Jul 6, 2026
Jun 1, 2026$0.3551
$0.3551
5.53%Monthly$4.15—Jun 1, 2026Jun 3, 2026
Show older history+115 rows
May 1, 2026$0.3274
$0.3274
5.59%Monthly$4.17—May 1, 2026May 5, 2026
Apr 1, 2026$0.3561
$0.3561
5.64%Monthly$4.20—Apr 1, 2026Apr 6, 2026
Mar 2, 2026$0.3181
$0.3181
5.48%Monthly$4.20—Mar 2, 2026Mar 4, 2026
Feb 2, 2026$0.3456
$0.3456
5.52%Monthly$4.18—Feb 2, 2026Feb 4, 2026
Dec 18, 2025$0.3492
$0.3492
5.96%Irregular$4.18—Dec 18, 2025Dec 22, 2025
Dec 1, 2025$0.3402
$0.3402
5.46%Monthly$4.19Nov 26, 2025Dec 1, 2025Dec 3, 2025
Nov 3, 2025$0.3334
$0.3334
5.44%Monthly$4.17Oct 30, 2025Nov 3, 2025Nov 5, 2025
Oct 1, 2025$0.3292
$0.3292
5.38%Monthly$4.18Sep 29, 2025Oct 1, 2025Oct 3, 2025
Sep 2, 2025$0.3346
$0.3346
5.57%Monthly$4.16—Sep 2, 2025Sep 4, 2025
Aug 1, 2025$0.4247
$0.4247
5.49%Monthly$4.16—Aug 1, 2025Aug 5, 2025
Jul 1, 2025$0.3393
$0.3393
5.33%Monthly$4.04—Jul 1, 2025Jul 3, 2025
Jun 2, 2025$0.3697
$0.3697
5.49%Monthly$4.03—Jun 2, 2025Jun 4, 2025
May 1, 2025$0.3583
$0.3583
5.39%Monthly$3.98—May 1, 2025May 5, 2025
Apr 1, 2025$0.3544
$0.3544
5.19%Monthly$3.94—Apr 1, 2025Apr 3, 2025
Mar 3, 2025$0.3032
$0.3032
5.04%Monthly$3.90Feb 27, 2025Mar 3, 2025Mar 5, 2025
Feb 3, 2025$0.3447
$0.3447
5.18%Monthly$3.89Jan 30, 2025Feb 3, 2025Feb 5, 2025
Dec 24, 2024$0.3563
$0.3563
5.16%Irregular$3.88Dec 20, 2024Dec 24, 2024Dec 27, 2024
Dec 2, 2024$0.3267
$0.3267
4.88%Monthly$3.85Nov 27, 2024Dec 2, 2024Dec 4, 2024
Nov 1, 2024$0.3375
$0.3375
5.02%Monthly$3.84Oct 30, 2024Nov 1, 2024Nov 5, 2024
Oct 1, 2024$0.3152
$0.3152
4.71%Monthly$3.84Sep 27, 2024Oct 1, 2024Oct 3, 2024
Sep 3, 2024$0.3255
$0.3255
4.84%Monthly$3.85Aug 29, 2024Sep 3, 2024Sep 5, 2024
Aug 1, 2024$0.3108
$0.3108
4.90%Monthly$3.82Jul 30, 2024Aug 1, 2024Aug 5, 2024
Jul 1, 2024$0.3243
$0.3243
5.12%Irregular$3.83Jun 27, 2024Jul 1, 2024Jul 3, 2024
Jun 3, 2024$0.3183
$0.3183
5.00%Monthly$3.82—Jun 3, 2024Jun 5, 2024
May 1, 2024$0.323
$0.323
5.14%Monthly$3.81Apr 29, 2024May 2, 2024May 6, 2024
Apr 1, 2024$0.3181
$0.3181
4.94%Monthly$3.79Mar 27, 2024Apr 2, 2024Apr 4, 2024
Mar 1, 2024$0.2865
$0.2865
4.89%Monthly$3.78Feb 28, 2024Mar 4, 2024Mar 6, 2024
Feb 1, 2024$0.3398
$0.3398
4.72%Monthly$3.78Jan 30, 2024Feb 2, 2024Feb 6, 2024
Dec 22, 2023$0.3286
$0.3286
4.70%Monthly$3.74Dec 20, 2023Dec 26, 2023Dec 28, 2023
Dec 1, 2023$0.3083
$0.3083
4.87%Monthly$3.72Nov 29, 2023Dec 4, 2023Dec 6, 2023
Nov 1, 2023$0.338
$0.338
5.34%Monthly$3.70Oct 30, 2023Nov 2, 2023Nov 6, 2023
Oct 2, 2023$0.326
$0.326
5.19%Monthly$3.65Sep 28, 2023Oct 3, 2023Oct 5, 2023
Sep 1, 2023$0.302
$0.302
4.82%Monthly$3.61Aug 30, 2023Sep 5, 2023Sep 7, 2023
Aug 1, 2023$0.319
$0.319
4.71%Monthly$3.59Jul 28, 2023Aug 2, 2023Aug 4, 2023
Jul 3, 2023$0.3104
$0.3104
4.56%Monthly$3.56Jun 29, 2023Jul 5, 2023Jul 7, 2023
Jun 1, 2023$0.3145
$0.3145
4.54%Monthly$3.52May 30, 2023Jun 2, 2023Jun 6, 2023
May 1, 2023$0.2994
$0.2994
4.50%Monthly$3.50Apr 27, 2023May 2, 2023May 4, 2023
Apr 3, 2023$0.3093
$0.3093
4.34%Monthly$3.47Mar 30, 2023Apr 4, 2023Apr 6, 2023
Mar 1, 2023$0.2817
$0.2817
4.52%Monthly$3.42Feb 27, 2023Mar 2, 2023Mar 6, 2023
Feb 1, 2023$0.307
$0.3074
4.11%Monthly$3.38Jan 30, 2023Feb 2, 2023Feb 6, 2023
Dec 23, 2022$0.302
$0.302
4.32%Monthly$3.36Dec 21, 2022Dec 27, 2022Dec 29, 2022
Dec 1, 2022$0.295
$0.2948
4.20%Monthly$3.34Nov 29, 2022Dec 2, 2022Dec 6, 2022
Nov 1, 2022$0.2872
$0.2872
4.63%Irregular$3.30Oct 28, 2022Nov 2, 2022Nov 4, 2022
Oct 3, 2022$0.284
$0.2839
4.39%Monthly$3.28Sep 29, 2022Oct 4, 2022Oct 6, 2022
Sep 1, 2022$0.285
$0.2849
4.14%Monthly$3.27Aug 30, 2022Sep 2, 2022Sep 7, 2022
Aug 1, 2022$0.282
$0.282
3.82%Monthly$3.26Jul 28, 2022Aug 2, 2022Aug 4, 2022
Jul 1, 2022$0.272
$0.272
3.97%Monthly$3.26Jun 29, 2022Jul 5, 2022Jul 7, 2022
Jun 1, 2022$0.2916
$0.2916
3.86%Irregular$3.26May 27, 2022Jun 2, 2022Jun 6, 2022
May 2, 2022$0.276
$0.2762
3.91%Monthly$3.24Apr 28, 2022May 3, 2022May 5, 2022
Apr 1, 2022$0.257
$0.2565
3.43%Monthly$3.23Jan 7, 2022Apr 4, 2022Apr 6, 2022
Mar 1, 2022$0.244
$0.2437
3.36%Monthly$3.26Feb 25, 2022Mar 2, 2022Mar 4, 2022
Feb 1, 2022$0.286
$0.2856
3.24%Monthly$3.26Jan 7, 2022Feb 2, 2022Feb 4, 2022
Dec 23, 2021$0.277
$0.277
3.06%Monthly$3.25Dec 22, 2021Dec 27, 2021Dec 29, 2021
Dec 1, 2021$0.261
$0.2607
3.04%Monthly$3.25Nov 29, 2021Dec 2, 2021Dec 6, 2021
Nov 1, 2021$0.267
$0.2666
3.06%Monthly$3.26Oct 29, 2021Nov 2, 2021Nov 4, 2021
Oct 1, 2021$0.277
$0.2769
3.08%Monthly$3.28Sep 30, 2021Oct 4, 2021Oct 6, 2021
Sep 1, 2021$0.273
$0.2728
3.03%Monthly$3.28Aug 31, 2021Sep 2, 2021Sep 7, 2021
Aug 2, 2021$0.277
$0.277
3.01%Monthly$3.28Jul 30, 2021Aug 3, 2021Aug 5, 2021
Jul 1, 2021$0.274
$0.2742
3.09%Monthly$3.29Jun 30, 2021Jul 2, 2021Jul 7, 2021
Jun 1, 2021$0.277
$0.2768
3.21%Monthly$3.29May 27, 2021Jun 2, 2021Jun 4, 2021
May 3, 2021$0.266
$0.2662
3.24%Monthly$3.32Apr 30, 2021May 4, 2021May 6, 2021
Apr 1, 2021$0.279
$0.2789
3.29%Monthly$3.36Mar 31, 2021Apr 5, 2021Apr 7, 2021
Mar 1, 2021$0.248
$0.2477
3.30%Monthly$3.42Feb 26, 2021Mar 2, 2021Mar 4, 2021
Feb 1, 2021$0.278
$0.2781
3.21%Monthly$3.46Jan 28, 2021Feb 2, 2021Feb 4, 2021
Dec 23, 2020$0.279
$0.2789
3.19%Monthly$3.51Dec 22, 2020Dec 24, 2020Dec 29, 2020
Dec 1, 2020$0.268
$0.2675
3.21%Monthly$3.56Nov 30, 2020Dec 2, 2020Dec 4, 2020
Nov 2, 2020$0.287
$0.2865
3.39%Monthly$3.59Oct 30, 2020Nov 3, 2020Nov 5, 2020
Oct 1, 2020$0.271
$0.2711
3.40%Monthly$3.64Sep 30, 2020Oct 2, 2020Oct 6, 2020
Sep 1, 2020$0.279
$0.2788
3.39%Monthly$3.68Aug 31, 2020Sep 2, 2020Sep 4, 2020
Aug 3, 2020$0.29
$0.2898
3.34%Monthly$3.74Jul 31, 2020Aug 4, 2020Aug 6, 2020
Jul 1, 2020$0.271
$0.2715
3.54%Monthly$3.79Jun 30, 2020Jul 2, 2020Jul 7, 2020
Jun 1, 2020$0.308
$0.3082
3.71%Monthly$3.83May 29, 2020Jun 2, 2020Jun 4, 2020
May 1, 2020$0.303
$0.3025
3.81%Monthly$3.86Apr 30, 2020May 4, 2020May 6, 2020
Apr 1, 2020$0.343
$0.3431
4.10%Monthly$3.86Mar 31, 2020Apr 2, 2020Apr 6, 2020
Mar 2, 2020$0.286
$0.2861
3.64%Monthly$3.86Feb 28, 2020Mar 3, 2020Mar 5, 2020
Feb 3, 2020$0.323
$0.3234
3.69%Monthly$3.87Jan 31, 2020Feb 4, 2020Feb 6, 2020
Dec 23, 2019$0.3297
$0.3297
3.81%Monthly$3.86Dec 20, 2019Dec 24, 2019Dec 27, 2019
Dec 2, 2019$0.3036
$0.3036
3.86%Monthly$3.89Nov 28, 2019Dec 3, 2019Dec 5, 2019
Nov 1, 2019$0.329
$0.3288
3.86%Monthly$3.90—Nov 4, 2019Nov 6, 2019
Oct 1, 2019$0.315
$0.3145
3.87%Monthly$3.91Sep 30, 2019Oct 2, 2019Oct 4, 2019
Sep 3, 2019$0.339
$0.3389
3.82%Monthly$3.92Aug 30, 2019Sep 4, 2019Sep 6, 2019
Aug 1, 2019$0.339
$0.3394
3.95%Monthly$3.88Jul 31, 2019Aug 2, 2019Aug 6, 2019
Jul 1, 2019$0.311
$0.3114
4.00%Monthly$3.88Jun 28, 2019Jul 2, 2019Jul 5, 2019
Jun 3, 2019$0.338
$0.3377
4.15%Monthly$3.87May 31, 2019Jun 4, 2019Jun 6, 2019
May 1, 2019$0.308
$0.3079
4.23%Monthly$3.87Apr 30, 2019May 2, 2019May 6, 2019
Apr 1, 2019$0.342
$0.3417
4.29%Monthly$3.87Mar 29, 2019Apr 2, 2019Apr 4, 2019
Mar 1, 2019$0.294
$0.294
4.46%Monthly$3.89Feb 28, 2019Mar 4, 2019Mar 6, 2019
Feb 1, 2019$0.317
$0.3173
4.42%Monthly$3.89Jan 31, 2019Feb 4, 2019Feb 6, 2019
Dec 24, 2018$0.3544
$0.3544
4.58%Monthly$3.88Dec 21, 2018Dec 26, 2018Dec 28, 2018
Dec 3, 2018$0.3166
$0.3166
4.64%Monthly$3.88Nov 30, 2018Dec 4, 2018Dec 6, 2018
Nov 1, 2018$0.338
$0.3377
4.60%Monthly$3.88Oct 31, 2018Nov 2, 2018Nov 6, 2018
Oct 1, 2018$0.318
$0.3183
4.41%Monthly$3.86Sep 28, 2018Oct 2, 2018Oct 4, 2018
Sep 4, 2018$0.307
$0.3073
4.40%Monthly$3.86Sep 3, 2018Sep 5, 2018Sep 7, 2018
Aug 1, 2018$0.332
$0.3319
4.39%Monthly$3.88Jul 31, 2018Aug 2, 2018Aug 6, 2018
Jul 2, 2018$0.305
$0.3047
4.43%Monthly$3.86Jun 29, 2018Jul 3, 2018Jul 6, 2018
Jun 1, 2018$0.339
$0.3391
4.39%Monthly$3.88May 31, 2018Jun 4, 2018Jun 6, 2018
May 1, 2018$0.309
$0.3086
4.38%Monthly$3.86May 1, 2018May 2, 2018May 4, 2018
Apr 2, 2018$0.362
$0.3624
4.25%Monthly$3.87Mar 30, 2018Apr 3, 2018Apr 5, 2018
Mar 1, 2018$0.293
$0.2928
4.23%Monthly$3.82Mar 1, 2018Mar 2, 2018Mar 6, 2018
Feb 1, 2018$0.305
$0.3045
4.14%Monthly$3.87Jan 31, 2018Feb 2, 2018Feb 6, 2018
Dec 26, 2017$0.354
$0.3538
4.05%Monthly$3.84Dec 21, 2017Dec 27, 2017Dec 29, 2017
Dec 1, 2017$0.314
$0.314
4.04%Monthly$3.84Nov 29, 2017Dec 4, 2017Dec 6, 2017
Nov 1, 2017$0.32
$0.32
4.08%Monthly$3.85Nov 1, 2017Nov 2, 2017Nov 6, 2017
Oct 2, 2017$0.325
$0.325
4.09%Monthly—Sep 29, 2017Oct 3, 2017Oct 5, 2017
Sep 1, 2017$0.321
$0.321
4.10%Monthly—Aug 31, 2017Sep 6, 2017Sep 8, 2017
Aug 1, 2017$0.319
$0.319
4.09%Monthly—Jul 31, 2017Aug 3, 2017Aug 7, 2017
Jul 3, 2017$0.316
$0.316
4.14%Monthly—Jun 30, 2017Jul 6, 2017Jul 10, 2017
Jun 1, 2017$0.321
$0.321
4.18%Monthly—May 31, 2017Jun 5, 2017Jun 7, 2017
May 1, 2017$0.321
$0.321
4.29%Monthly—Apr 28, 2017May 3, 2017May 5, 2017
Apr 3, 2017$0.316
$0.316
4.28%Monthly—Mar 31, 2017Apr 5, 2017Apr 7, 2017
Mar 1, 2017$0.34
$0.34
4.29%Monthly—Feb 28, 2017Mar 3, 2017Mar 7, 2017
Feb 1, 2017$0.27
$0.27
4.34%Monthly—Jan 31, 2017Feb 3, 2017Feb 7, 2017
Dec 22, 2016$0.352
$0.352
4.39%Monthly—Dec 21, 2016Dec 27, 2016Dec 29, 2016
Dec 1, 2016$0.326
$0.326
4.47%Monthly—Nov 30, 2016Dec 5, 2016Dec 7, 2016
Nov 1, 2016$0.313
$0.313
4.20%Monthly—Oct 31, 2016Nov 3, 2016Nov 7, 2016
Distribution context
How to read VCLT's distribution profile

ETF distribution yield is only the starting point. Pair the current distribution with frequency, history, holdings exposure, and fund risk before treating income as durable.

Distribution yield

Yield is most useful when read with the fund's asset class, distribution policy, and recent payment pattern.

Payment history matters

Stable or rising distributions can support an income allocation, while irregular payments should be read as fund-policy and market-cycle evidence.

Corporate coverage is excluded

ETF distributions are not evaluated with company payout ratio or free cash flow coverage because those metrics do not map cleanly to fund structures.

Focused follow-on paths for yield, reinvestment, holdings, risk, and the closest income comparison.

VCLT Distribution Comparisons

How VCLT's income profile compares with the peers it is most often weighed against.

Dividend calculators

Each calculator opens with this ticker's price and dividend loaded; every assumption stays editable.

Primary calculator
Calculate VCLT dividend income

Estimate annual income, payment amount, yield and growth scenarios using VCLT as ticker context.

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Secondary calculator
Model VCLT dividend reinvestment

Explore a DRIP scenario without duplicating the full calculator on the dividend analysis page.

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Secondary calculator
Calculate VCLT dividend yield

Check the current yield, annual income on your shares, and your yield on cost from the price you paid.

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Secondary calculator
VCLT yield on cost

Enter your purchase date or price to see the yield on what you paid, today's yield beside it, and the dividends collected since.

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Continue to VCLT holdings
Review the portfolio composition, sector exposure and concentration behind VCLT's income strategy.

VCLT Dividends FAQ

Does VCLT pay dividends?

Yes — though ETF payouts are technically fund distributions rather than corporate dividends. Vanguard Long-Term Corporate Bond ETF has covered distribution history, most recently $0.35 per share on a monthly cadence.

What is VCLT's dividend yield?

VCLT's trailing 12-month distribution yield is 5.41%, from $3.78 per share paid over the trailing 12 months. That is distributions paid divided by the latest available market price — it is not a 30-Day SEC Yield, a forward yield, or a total return.

How often does VCLT pay dividends?

VCLT currently pays distributions on a monthly cadence based on covered payment history. Cadence inferred from payment spacing is labeled as inferred, because a fund can change its schedule.

When is VCLT's next dividend?

VCLT's next distribution is projected from its recent cadence, around Oct 31, 2026. A projection is an estimate from past payments, not an issuer announcement, and the fund can change both the date and the amount.

What was VCLT's latest dividend?

VCLT's latest covered distribution was $0.35 per share, with an ex-dividend date of Oct 1, 2026 and a payment date of Oct 5, 2026.

Why do VCLT's distributions vary?

VCLT distributes the income its underlying holdings generate, so the amount moves with dividend timing across the portfolio, index changes, and seasonality. Variation between periods is normal for a broad-market fund and does not by itself signal a change in fund policy.