Morningstar's take on Wellington

[LakeTravis]

I just noticed that Morningstar recently labeled Vanguard Wellington with this statement:

"This fund's bond portfolio is potentially hitched to a runaway train."

What do you suppose they mean by that?

[REattempt]

Translation:

"Buy a subscription to Morningstar premium membership and we'll tell you..."

[RE2Boys]

The funds bond duration is at a 10 year high of 6.6 years but goes on to say the choices in its equity positions (65% of portfolio) should mitigate the risk. Still, shareholders need to keep an eye on this risk.