Vanguard Government Securities Active ETF Investment Risks - ETF Prospectus [Member] - Vanguard Government Securities Active ETF |
Sep. 30, 2024 |
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Prospectus [Line Items] | |
Risk [Text Block] | • Interest rate risk, which is the chance that bond prices overall will decline because of rising interest rates.• TBA Securities risk. A TBA transaction represents an agreement to buy or sell mortgage-backed securities with agreed-upon characteristics for a fixed unit price at a future date, but does not specify the particular security to be delivered. TBA transactions involve the risk that the value of the mortgage-backed securities to be purchased declines prior to settlement date or the counterparty does not deliver the securities as promised.Because the Fund is an exchange-traded fund (ETF) and the Fund’s shares are traded on an exchange, the Fund is subject to additional risks: |
Income Risk [Member] | |
Prospectus [Line Items] | |
Risk [Text Block] | • Income risk, which is the chance that the Fund’s income will decline because of falling interest rates. A fund’s income declines when interest rates fall because the fund then must invest new cash flow and cash from maturing bonds in lower- yielding bonds. Income risk is generally high for short-term bond funds and moderate for intermediate-term bond funds, so investors should expect the Fund’s monthly income to fluctuate accordingly. |
Credit Risk [Member] | |
Prospectus [Line Items] | |
Risk [Text Block] | • Credit risk, which is the chance that a bond issuer will fail to pay interest or principal in a timely manner or that negative perceptions of the issuer’s ability to make such payments will cause the price of that bond to decline. |
Manager Risk [Member] | |
Prospectus [Line Items] | |
Risk [Text Block] | • Manager risk, which is the chance that poor security selection will cause the Fund to underperform relevant benchmarks or other funds with a similar investment objective. |
Prepayment Risk [Member] | |
Prospectus [Line Items] | |
Risk [Text Block] | • Prepayment risk, which is the chance that during periods of falling interest rates, homeowners will refinance their mortgages before their maturity dates, resulting in prepayment of mortgage-backed securities held by the Fund. The Fund would then lose any price appreciation above the mortgage’s principal and would be forced to reinvest the unanticipated proceeds at lower interest rates, resulting in a decline in the Fund’s income. Such prepayments and subsequent reinvestments would also increase the Fund’s portfolio turnover rate. |
Extension Risk [Member] | |
Prospectus [Line Items] | |
Risk [Text Block] | • Extension risk, which is the chance that during periods of rising interest rates, certain debt securities will be paid off substantially more slowly than originally anticipated, and the value of those securities may fall. For funds that invest in mortgage-backed securities, extension risk is the chance that during periods of rising interest rates, homeowners will repay their mortgages at slower rates. This will lengthen the duration or average life of mortgage-backed securities held by the Fund and delay the Fund’s ability to reinvest proceeds at higher interest rates. |
Derivatives Risk [Member] | |
Prospectus [Line Items] | |
Risk [Text Block] | • Derivatives risk. The Fund may invest in derivatives, which may involve risks different from, and possibly greater than, those of investments directly in the underlying securities or assets. |
Country Regional Risk [Member] | |
Prospectus [Line Items] | |
Risk [Text Block] | • Country/regional risk, which is the chance that world events—such as political upheaval, financial troubles, or natural disasters—will adversely affect the value and/or liquidity of securities issued by foreign governments, government agencies, government-owned corporations, and foreign companies. Because the Fund may invest in bonds of issuers located in any one country or region, the Fund’s performance may be hurt disproportionately by the poor performance of its investments in that area. |
Liquidity Risk [Member] | |
Prospectus [Line Items] | |
Risk [Text Block] | • Liquidity risk, which is the chance the Fund may not be able to sell a security in a timely manner at a desired price. |
Counterparty Risk [Member] | |
Prospectus [Line Items] | |
Risk [Text Block] | • Counterparty risk, which is the chance that the counterparty to a derivatives contract, or other investment vehicle, with the Fund is unable or unwilling to meet its financial obligations. |
ETF exchange_volatility Risk [Member] | |
Prospectus [Line Items] | |
Risk [Text Block] | • The Fund’s ETF Shares are listed for trading on NYSE Arca and are bought and sold on the secondary market at market prices. Although it is expected that the market price of an ETF Share typically will approximate its net asset value (NAV), there may be times when the market price and the NAV differ significantly. Thus, you may pay more or less than NAV when you buy ETF Shares on the secondary market, and you may receive more or less than NAV when you sell those shares. |
ETF_active trading_increased risk [Member] | |
Prospectus [Line Items] | |
Risk [Text Block] | • Although the Fund’s ETF Shares are listed for trading on NYSE Arca, it is possible that an active trading market may not be maintained. |
ETF_trading halted risk [Member] | |
Prospectus [Line Items] | |
Risk [Text Block] | • Trading of the Fund’s ETF Shares may be halted by the activation of individual or marketwide trading halts (which halt trading for a specific period of time when the price of a particular security or overall market prices decline by a specified percentage). Trading of the Fund’s ETF Shares may also be halted if (1) the shares are delisted from NYSE Arca without first being listed on another exchange or (2) NYSE Arca officials determine that such action is appropriate in the interest of a fair and orderly market or for the protection of investors. |
Risk Lose Money [Member] | |
Prospectus [Line Items] | |
Risk [Text Block] | An investment in the Fund could lose money over short or long periods of time. |
Risk Not Insured Depository Institution [Member] | |
Prospectus [Line Items] | |
Risk [Text Block] | An investment in the Fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. |