The Vanguard Total Bond Market Index Investor Fund (VBMFX), launched in 1986, gives investors broad exposure to the U.S. investment-grade bond market and is managed by Joshua Barrickman since 2013. 

Despite its long history, recent performance has been modest, with a 5-year annualized return of -0.62% and a 3-year return of 4.8%, both ranking in the bottom third of its category. However, the fund’s appeal lies in its low volatility, showing a 3-year standard deviation of 6.41% compared to the category average of 12.85%. 

Cost efficiency is a major strength, as VBMFX’s expense ratio of 0.15% is far below the 0.93% category average, making it one of the cheapest options in its class. 

Finsum: This fund could offer steady exposure to the bond market with minimal cost and volatility, for the right investor.