The Spliced Barclays USAgg Float Adj Ix is the complete bond index against which this fund can be judged. What is one reason the Vanguard fund might consistently lag in comparison to the index?


a. The bond fund holds all the same bonds in exactly the same percentages as the index.

b. The bond fund is managed by Vanguard, so there is an investment fee tied to its prices.

c. The bond fund was poorly constructed so it will always fall behind the index.

d. The index is actually consistently behind the Vanguard fund