Bonds and Fixed Income

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This discussion is forcing me to tackle some much-delayed research on my muni holdings which are concentrated in two Vanguard Admiral funds I've owned for many decades going back before interest rates peaked at 21.5% in December 1980. From Morningstar:

Vanguard Limited Term Tax Exempt Adm Fund: VMVMLUX
"VMLUX seeks current income that is exempt from federal personal income taxes, with limited price volatility. The fund has no limitations on the maturity of individual securities, but is expected to maintain a dollar-weighted average maturity of 2 to 6 years. At least 75% of the securities held by the fund are municipal bonds in the top three credit-rating categories."
https://www.morningstar.com/funds/xnas/vmlux/quote

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Vanguard Intermediate Term Tax Admiral Fund VWIUX
"VWIUX seeks a moderate and sustainable level of current income that is exempt from federal personal income taxes. The fund has no limitations on the maturity of individual securities but is expected to maintain a dollar-weighted average maturity of 6 to 12 years. At least 75% of the securities held by the fund are municipal bonds in the top three credit-rating categories."
https://www.morningstar.com/funds/xnas/vwiux/quote

Both funds currently have expense ratios of 0.090% and hold >10,000 issues of bonds!