(Bloomberg) -- After 30 years of trading and collecting $172 billion of assets in the process, it'll take more than this week's U.S. rate increase to derail the world's largest debt fund.

Vanguard's Total Bond Market Index Fund has weathered storms far worse than rising interest rates — from the savings and loan debacle in the late 1980s and the tech bubble a decade later to the subprime housing collapse and sovereign debt crisis of the last 10 years. The fund has gained 6% annually on average since it began in 1986, and Josh Barrickman, the money manager who's shepherded the fund through the last three years, is optimistic about the future.

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