Vanguard's cash management account is a type of brokerage account. Therefore, it is not a bank account, and so it is not FDIC insured. It is, however, protected by SIPC, the government-required account protection in the securities industry.What are Vanguard Investments?
Vanguard is an American investment company that provides a series of financial products, primarily mutual funds. In addition, the company provides access to exchange-traded funds, stocks, bonds, and a wide range of brokerage services as well as retirement and college funds.