0000862341 2025-11-30 2025-11-30 0000862341 ohio:S000002908Member 2025-11-30 2025-11-30 0000862341 ohio:S000002908Member ohio:C000007973Member 2025-11-30 2025-11-30 0000862341 ohio:S000002908Member oef:RiskLoseMoneyMember 2025-11-30 2025-11-30 0000862341 ohio:S000002908Member ohio:GeneralMarketRiskMember 2025-11-30 2025-11-30 0000862341 ohio:S000002908Member ohio:InvestingInBondMarketsRiskMember 2025-11-30 2025-11-30 0000862341 ohio:S000002908Member ohio:InvestingInMuniBondMarketsRiskMember 2025-11-30 2025-11-30 0000862341 ohio:S000002908Member ohio:TaxExemptIncomeRiskMember 2025-11-30 2025-11-30 0000862341 ohio:S000002908Member us-gaap:InterestRateRiskMember 2025-11-30 2025-11-30 0000862341 ohio:S000002908Member ohio:IncomeRiskMember 2025-11-30 2025-11-30 0000862341 ohio:S000002908Member us-gaap:CreditRiskMember 2025-11-30 2025-11-30 0000862341 ohio:S000002908Member ohio:MunicipalBondLiquidityRiskMember 2025-11-30 2025-11-30 0000862341 ohio:S000002908Member ohio:CallRiskMember 2025-11-30 2025-11-30 0000862341 ohio:S000002908Member ohio:ExtensionRiskMember 2025-11-30 2025-11-30 0000862341 ohio:S000002908Member ohio:StateSpecificFocusRiskMember 2025-11-30 2025-11-30 0000862341 ohio:S000002908Member ohio:ActiveManagementRiskMember 2025-11-30 2025-11-30 0000862341 ohio:S000002908Member oef:RiskNotInsuredDepositoryInstitutionMember 2025-11-30 2025-11-30 0000862341 ohio:C000007973Member 2025-01-01 2025-12-31 0000862341 ohio:C000007973Member 2021-01-01 2025-12-31 0000862341 ohio:C000007973Member 2016-01-01 2025-12-31 0000862341 ohio:C000007973Member oef:AfterTaxesOnDistributionsMember 2025-01-01 2025-12-31 0000862341 ohio:C000007973Member oef:AfterTaxesOnDistributionsMember 2021-01-01 2025-12-31 0000862341 ohio:C000007973Member oef:AfterTaxesOnDistributionsMember 2016-01-01 2025-12-31 0000862341 ohio:C000007973Member oef:AfterTaxesOnDistributionsAndSalesMember 2025-01-01 2025-12-31 0000862341 ohio:C000007973Member oef:AfterTaxesOnDistributionsAndSalesMember 2021-01-01 2025-12-31 0000862341 ohio:C000007973Member oef:AfterTaxesOnDistributionsAndSalesMember 2016-01-01 2025-12-31 0000862341 ohio:BloombergOHMunicipalBondIndexMember 2025-01-01 2025-12-31 0000862341 ohio:BloombergOHMunicipalBondIndexMember 2021-01-01 2025-12-31 0000862341 ohio:BloombergOHMunicipalBondIndexMember 2016-01-01 2025-12-31 0000862341 ohio:BloombergMunicipalBondIndexMember 2025-01-01 2025-12-31 0000862341 ohio:BloombergMunicipalBondIndexMember 2021-01-01 2025-12-31 0000862341 ohio:BloombergMunicipalBondIndexMember 2016-01-01 2025-12-31 0000862341 ohio:S000002908Member ohio:C000007973Member 2018-01-01 2018-12-31 0000862341 ohio:S000002908Member ohio:C000007973Member 2019-01-01 2019-12-31 0000862341 ohio:S000002908Member ohio:C000007973Member 2020-01-01 2020-12-31 0000862341 ohio:S000002908Member ohio:C000007973Member 2021-01-01 2021-12-31 0000862341 ohio:S000002908Member ohio:C000007973Member 2022-01-01 2022-12-31 0000862341 ohio:S000002908Member ohio:C000007973Member 2023-01-01 2023-12-31 0000862341 ohio:S000002908Member ohio:C000007973Member 2024-01-01 2024-12-31 0000862341 ohio:S000002908Member ohio:C000007973Member 2025-01-01 2025-12-31 pure iso4217:USD 2025-11-30 0000862341 false 485BPOS 0.0095 0.0808 0.0704 0.0214 -0.1101 0.0703 0.0215 0.0412 N-1A VANGUARD OHIO TAX-FREE FUNDS 2026-03-27 Fund Summary Investment Objective Vanguard Ohio Long-Term Tax-Exempt Fund (the “Fund”) seeks to provide current income that is exempt from both federal and Ohio personal income taxes. The Fund is intended for Ohio residents only. Fees and Expenses The following tables describe the fees and expenses you may pay if you buy, hold, and sell shares of the Fund. You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the tables and example below. Shareholder Fees (Fees paid directly from your investment) 0 0 0 0 25 Annual Fund Operating Expenses (Expenses that you pay each year as a percentage of the value of your investment) 0.0008 0 0.0001 0.0009 Example This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same. 9 29 51 115 Portfolio Turnover The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was 24% of the average value of its portfolio. 0.24 Principal Investment Strategies The Fund employs an active management approach, investing primarily in high-quality municipal bonds issued by Ohio state and local governments, as well as by regional governmental and public financing authorities. As a matter of fundamental policy, under normal circumstances, the Fund invests at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in securities whose income is exempt from federal and Ohio state taxes.The Fund primarily purchases municipal bonds rated investment-grade, as determined by a nationally recognized statistical rating organization or (if unrated) determined to be of comparable quality by the Fund’s advisor. The Fund expects to maintain a dollar-weighted average maturity between 10 and 25 years, but has no limitations on the maturities of individual securities. As with any investment, an investment in the Fund could lose money over any time period. • General Market Risk. The markets in which the Fund invests can be affected by a variety of factors. These factors, which can be real or perceived, may include economic, market, political, and regulatory conditions and developments as well as local, regional, or global events such as wars, military conflicts, natural disasters, and public health issues. In addition, investor sentiment and expectations regarding these factors can also impact the markets. Different parts of the market, including different industries and sectors as well as different types of securities, may react differently to factors that affect the market. These factors can contribute to market uncertainty, market volatility, and fluctuations in the value of the Fund’s investments, thereby resulting in potential losses to the Fund over short or long periods. • Investing in Bond Markets. The Fund may be impacted by the general condition of the bond markets and by factors that affect bonds and bond issuers. For example, as a general rule, bond prices and interest rates move in opposite directions. When interest rates rise, bond prices tend to fall, and when interest rates fall, bond prices tend to go up. Bond income also is affected by changes in interest rates. Interest rates can rise or fall for a number of reasons, including, but not limited to, central bank monetary policy, inflationary or deflationary pressures, and changes in general market and economic conditions. Changing interest rates, including, but not limited to, rates that fall below zero, could have unpredictable effects on the overall market and may expose the bond markets in particular to heightened volatility and potential illiquidity. The degree to which the Fund is impacted by certain bond market risks may vary based on factors disclosed in its principal investment strategies, such as the types of bonds in which it invests and the overall credit quality, average maturity, and/or average duration of its bond holdings. • Investing in the Municipal Bond Market. In addition to the general risks associated with investing in bonds, municipal bonds are subject to unique risks. The values of the Fund’s municipal bond holdings could be impacted significantly by economic, regulatory, political, or other developments or circumstances affecting municipal bond issuers. These developments or circumstances could create uncertainty in the municipal bond market and/or adversely impact the ability of municipal bond issuers to make principal and interest payments, which could result in a loss to the Fund. Municipal bonds can vary from one another in a number of ways, which can impact their sensitivity to certain risks. For example, investing in revenue bonds, which make up a significant portion of the municipal bond market, will generally subject the Fund to a higher risk of loss than investing in municipal bonds secured by the full faith, credit, and taxing power of the issuer (general obligation bonds). Because the interest and principal on revenue bonds is payable only from a particular stream of revenue, they generally carry more Credit Risk than general obligation bonds. Revenue bonds also tend to be more sensitive to economic conditions than general obligation bonds, which could make their prices more volatile. The Fund also is subject to the risk that all or a significant portion of its municipal bond holdings will be affected in the same manner. Because many municipal bonds are issued to finance similar projects, conditions in related sectors could have an outsized impact on the municipal bond market. As a result, the Fund may underperform funds that invest more broadly. • Tax-Exempt Income Risk. There is no guarantee that the interest payable on municipal bonds will remain exempt from federal, state, or local income taxes. Tax-exempt income from the Fund’s municipal bond holdings could be declared taxable, possibly with retroactive effect, due to a variety of circumstances such as tax law changes, adverse interpretations by tax authorities, or noncompliant conduct by a municipal bond issuer. Any of these circumstances could cause the prices of municipal bonds to decline significantly or impair the Fund’s ability to achieve its investment objective. • Interest Rate Risk. During periods of rising interest rates, bond prices overall may decline, which could result in a decline in the Fund’s value. The prices of longer-term bonds are more sensitive to changes in interest rates than the prices of shorter-term bonds. • Income Risk. During periods of falling interest rates, the Fund’s income may decline. The income paid by shorter-term bonds is subject to a higher degree of fluctuation than the income paid by longer-term bonds. • Credit Risk. Credit risk refers to the chance that an issuer will default (fail to meet its credit obligations) or fail to make payments in a timely manner, which could result in a loss to the Fund. In addition, negative perceptions of an issuer’s ability to make payments can cause the price of a security to decline. While all debt securities are subject to credit risk to some extent, those with higher credit quality ratings generally pose less credit risk than those with lower credit quality ratings. • Municipal Bond Liquidity Risk. Limited trading in the municipal bond market and a relative lack of publicly available information about the financial condition of municipal bond issuers may make municipal bonds more difficult to value or sell than other types of debt securities. If the Fund is unable to sell a security at an advantageous time or price, its returns may be reduced. • Call Risk. Certain bonds held by the Fund may be callable. The issuer of a callable bond has the right to “call” (redeem) the bond before its maturity date. Calls on bonds held by the Fund would result in the Fund losing any price appreciation above the bond’s call price. In addition, because bond calls occur more frequently during periods of falling interest rates, the Fund likely would be forced to reinvest the proceeds of any called bonds at a lower interest rate than that of the called bonds, resulting in a decline in the Fund’s income and a potential loss in the value of the Fund’s investments. If the proceeds from a called bond generate taxable income, the Fund may need to distribute income subject to federal or Ohio personal income tax or to the federal alternative minimum tax. Frequent bond calls and subsequent reinvestments of the proceeds also would increase the Fund’s turnover rate. • Extension Risk. During periods of rising interest rates, certain bonds held by the Fund may be paid off substantially more slowly than originally anticipated. As a result, the value of the bonds may fall, resulting in a decline in the Fund’s income and a potential loss in the value of the Fund’s investments. • State-Specific Focus. The Fund invests primarily in securities issued by Ohio and its municipalities. Any adverse tax, legislative, or political developments in Ohio may have far-reaching impacts on the overall Ohio municipal bond market, which could adversely affect the Fund’s holdings and/or the securities that are available for investment by the Fund. In addition, the Fund is more susceptible to the credit risk of and unfavorable developments in Ohio than a fund that invests more widely. Unfavorable developments in any economic sector may have far-reaching ramifications on the overall Ohio municipal bond market. • Active Management. The Fund is actively managed. The advisor’s security selection and/or strategy execution could cause the Fund to underperform relevant securities markets or other funds with a similar investment objective. 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. Annual Total Returns The following bar chart and table show the Fund’s historical performance and are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund has varied from one calendar year to another over the periods shown. The table shows how the average annual total returns of the Fund compare with those of a broad-based securities market index and one or more additional indexes with similar investment characteristics as the Fund. Keep in mind that the Fund’s past performance (before and after taxes) does not indicate how the Fund will perform in the future. Updated performance information is available on our website at vanguard.com/performance. The following bar chart and table show the Fund’s historical performance and are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund has varied from one calendar year to another over the periods shown. The table shows how the average annual total returns of the Fund compare with those of a broad-based securities market index and one or more additional indexes with similar investment characteristics as the Fund. Keep in mind that the Fund’s past performance (before and after taxes) does not indicate how the Fund will perform in the future. vanguard.com/performance Annual Total Returns — Vanguard Ohio Long-Term Tax-Exempt Fund Investor Shares During the periods shown in the bar chart, the highest and lowest returns for a calendar quarter were: Highest 0.0937 2023-12-31 Lowest -0.0638 2022-03-31 Average Annual Total Returns for Periods Ended December 31, 2025 0.0412 0.0068 0.0264 0.0412 0.0064 0.0254 0.0392 0.0119 0.0272 0.0434 0.0059 0.0223 0.0425 0.0080 0.0234 Actual after-tax returns depend on your tax situation and may differ from those shown in the preceding table. When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations. Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares may be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder. When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations. Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares may be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder.