The Vanguard Ultra-Short-Term Bond Fund Admiral (VUSFX) is a mutual fund that primarily invests in a diversified portfolio of high-quality, short-term bonds with maturities of one year or less. This fund aims to provide investors with a low-risk investment option that offers higher returns than traditional savings accounts or money market funds. With its low expense ratio and experienced management team, the Vanguard Ultra-Short-Term Bond Fund Admiral is a popular choice for investors looking for stability and short-term income.