VCLT holds a broad portfolio of long-term investment-grade corporate bonds. Like all long-term bond funds, it is highly sensitive to long-term interest rates, but its high weighted-average credit rating means that its credit risk is very small. The fund includes USD-denominated, fixed-rate, taxable securities issued by industrial, utility, and financial companies with more than 10 years until maturity. The Fund invests using a sampling process that selects a representative sample of securities to capture the index key risk factors and other characteristics. The Index undergoes monthly rebalance and reconstitution.