# EDGAR Filing Document

**Accession Number:** 0000106444
**File Stem:** 0001683863-25-007371
**Filing Date:** 2025-9
**Character Count:** 3374
**Document Hash:** c7d5cab54bca79e152be6a6431bf275f
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001683863-25-007371.hdr.sgml**: 20260115

**ACCESSION NUMBER**: 0001683863-25-007371

**CONFORMED SUBMISSION TYPE**: CORRESP

**PUBLIC DOCUMENT COUNT**: 3

**FILED AS OF DATE**: 20250908

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** VANGUARD FIXED INCOME SECURITIES FUNDS
- **CENTRAL INDEX KEY:** 0000106444

**ORGANIZATION NAME:**
- **EIN:** 231899003
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0131

**FILING VALUES:**
- **FORM TYPE:** CORRESP

**BUSINESS ADDRESS:**
- **STREET 1:** PO BOX 2600
- **STREET 2:** V26
- **CITY:** VALLEY FORGE
- **STATE:** PA
- **ZIP:** 19482
- **BUSINESS PHONE:** 6106691000

**MAIL ADDRESS:**
- **STREET 1:** PO BOX 2600
- **STREET 2:** V26
- **CITY:** VALLEY FORGE
- **STATE:** PA
- **ZIP:** 19482

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** VANGUARD FIXED INCOME SECURITIES FUND INC
- **DATE OF NAME CHANGE:** 19920703

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** WESTMINSTER BOND FUND INC
- **DATE OF NAME CHANGE:** 19800619

![](g1gb9fmac5l8hpavqoxgd.jpg)

P.O. Box 2600 Valley Forge, PA 19482 marc_foster@vanguard.com

**via electronic filing**

September 8, 2025

Lisa N. Larkin, Esq.

U.S. Securities and Exchange Commission

100 F Street, N.E.

Washington, DC 20549

---

| | |
|:---|:---|
| **Re:** | **Vanguard Fixed Income Securities Funds ("Trust")** |
|  | **File No. 811-02368** |
|  | **Post-Effective Amendment No. 134** |

---

Dear Ms. Larkin:

This letter responds to your comments provided on August 20, 2025, to the above referenced post- effective amendment that was filed with the Commission on July 1, 2025, for the purpose of adding Vanguard High-Yield Active ETF ("**Fund**") as a new series of the Trust.

**<u>Comment 1</u>: <u>More on the Fund – Security Selection</u>**

Comment: Indicate in correspondence the extent to which the Fund plans to invest in lower-rated tranches of collateralized debt obligations (CDOs), collateralized loan obligations (CLOs), collateralized mortgage obligations (CMOs), and lower rated bank loans.

Response: Consistent with the requirements of the Fund's Liquidity Risk Management Program and with Rule 22e-4, the Fund will not acquire any illiquid investment if, immediately after the acquisition, the Fund would have invested more than 15% of its net assets in illiquid investments. In this regard, the Fund may invest in the aforementioned securities only up to 15% of its net assets in aggregate.

---

| | |
|:---|:---|
| **<u>Comment 2</u>:** | **<u>More on the Fund – Security Selection</u>** |
| Comment: | If any of trust-preferred securities, government securities, investment-grade bonds, |

---

international dollar-denominated bonds, foreign currency bonds, or restricted securities will be principal components of the Fund's portfolio, include them in the Fund's principal investment strategy.

Response: The Fund does not anticipate investing in any of the aforementioned instruments to a degree that such investments should be identified as principal components of the Fund's portfolio in the Fund's principal investment strategies.

Please contact me at marc_foster@vanguard.com with any questions.

Sincerely,

/s/ Marc Foster

![](g9ve8xsrzmgw6znx43t45.jpg)

P.O. Box 2600 Valley Forge, PA 19482 marc_foster@vanguard.com

Marc Foster

Assistant General Counsel

The Vanguard Group, Inc.