Report of Independent Registered Public
Accounting Firm

To the Board of Trustees of Vanguard Fixed
Income Securities Funds and Shareholders of
Vanguard High-Yield Corporate Fund
Vanguard Intermediate-Term Investment-Grade
Fund
Vanguard Long-Term Investment-Grade Fund
Vanguard Short-Term Investment-Grade Fund
and

Vanguard Ultra-Short-Term Bond Fund


In planning and performing our audits of the
financial statements of  Vanguard High-Yield
Corporate Fund, Vanguard Intermediate-Term
Investment-Grade Fund, Vanguard Long-Term
Investment-Grade Fund, Vanguard Short-Term
Investment-Grade Fund and Vanguard Ultra-
Short-Term Bond Fund (five of the funds
constituting Vanguard Fixed Income Securities
Funds, hereafter collectively referred to as the
"Funds") as of and for the year ended January
31, 2024, in accordance with the standards of
the Public Company Accounting Oversight
Board (United States) (PCAOB), we considered
the Funds' internal control over financial
reporting, including controls over safeguarding
securities, as a basis for designing our auditing
procedures for the purpose of expressing our
opinion on the financial statements and to
comply with the requirements of Form N-CEN,
but not for the purpose of expressing an
opinion on the effectiveness of the Funds'
internal control over financial reporting.
Accordingly, we do not express an opinion on
the effectiveness of the Funds' internal control
over financial reporting.

The management of the Funds is responsible
for establishing and maintaining effective
internal control over financial reporting. In
fulfilling this responsibility, estimates and
judgments by management are required to
assess the expected benefits and related costs
of controls. A company's internal control over
financial reporting is a process designed to
provide reasonable assurance regarding the
reliability of financial reporting and the
preparation of financial statements for external
purposes in accordance with generally
accepted accounting principles. A company's
internal control over financial reporting includes
those policies and procedures that (1) pertain
to the maintenance of records that, in
reasonable detail, accurately and fairly reflect
the transactions and dispositions of the assets
of the company; (2) provide reasonable
assurance that transactions are recorded as
necessary to permit preparation of financial
statements in accordance with generally
accepted accounting principles, and that
receipts and expenditures of the company are
being made only in accordance with
authorizations of management and directors of
the company; and (3) provide reasonable
assurance regarding prevention or timely
detection of unauthorized acquisition, use or
disposition of a company's assets that could
have a material effect on the financial
statements.

Because of its inherent limitations, internal
control over financial reporting may not prevent
or detect misstatements. Also, projections of
any evaluation of effectiveness to future
periods are subject to the risk that controls may
become inadequate because of changes in
conditions, or that the degree of compliance
with the policies or procedures may deteriorate.

A deficiency in internal control over financial
reporting exists when the design or operation of
a control does not allow management or
employees, in the normal course of performing
their assigned functions, to prevent or detect
misstatements on a timely basis. A material
weakness is a deficiency, or a combination of
deficiencies, in internal control over financial
reporting, such that there is a reasonable
possibility that a material misstatement of the
company's annual or interim financial
statements will not be prevented or detected on
a timely basis.

Our consideration of the Funds' internal control
over financial reporting was for the limited
purpose described in the first paragraph and
would not necessarily disclose all deficiencies
in internal control over financial reporting that
might be material weaknesses under standards
established by the PCAOB. However, we noted
no deficiencies in the Funds' internal control
over financial reporting and its operation,
including controls over safeguarding securities,
that we consider to be a material weakness as
defined above as of January 31, 2024.

This report is intended solely for the information
and use of the Board of Trustees of Vanguard
Fixed Income Securities Funds and the
Securities and Exchange Commission and is
not intended to be and should not be used by
anyone other than these specified parties.



/s/PricewaterhouseCoopers LLP
Philadelphia, Pennsylvania
March 21, 2024