Vanguard High-Yield Corporate Fund
Vanguard Long-Term Investment-Grade Fund
Vanguard Ultra-Short-Term Bond Fund
Vanguard Short-Term Investment-Grade Fund
Vanguard Intermediate-Term Investment-Grade Fund
Supplement to the Statement of Additional Information Dated
May 26, 2017
Effective April 20, 2018, State Street Bank and Trust Company, One Lincoln
Street, Boston, MA 02111, serves as the custodian for Vanguard High-Yield
Corporate Fund, Vanguard Long-Term Investment-Grade Fund, Vanguard Ultra-
Short-Term Bond Fund, Vanguard Short-Term Investment-Grade Fund, and
Vanguard Intermediate-Term Investment-Grade Fund (the “Funds”). The
custodian is responsible for maintaining the Funds’ assets, keeping all
necessary accounts and records of the Funds’ assets, and appointing any
foreign sub-custodians or foreign securities depositories.
© 2018 The Vanguard Group, Inc. All rights reserved.
Vanguard Marketing Corporation, Distributor.	SAI 28B 042018