Vanguard California Int-term t

About

Vanguard California Intermediate-Term Tax-Exempt Fund is a mutual fund designed to provide investors with a high level of current income that is exempt from both federal and California state personal income taxes. The fund invests primarily in investment-grade municipal bonds with intermediate-term maturities, specifically targeting debt obligations issued by California entities and its political subdivisions. It serves as a tool for investors in high tax brackets seeking to manage interest rate risk while generating tax-advantaged income.