| |
Sales Charge (Load) Imposed on Purchases |
|
Purchase Fee |
|
Sales Charge (Load) Imposed on Reinvested Dividends |
|
Redemption Fee |
|
Account Service Fee Per Year
(for certain fund account balances below $1,000,000) |
$ |
| |
Management Fees |
|
12b-1 Distribution Fee |
|
Other Expenses |
|
Total Annual Fund Operating Expenses |
|
1 Year |
3 Years |
5 Years |
10 Years |
$ |
$ |
$ |
$ |
|
Total Return |
Quarter |
|
|
|
|
- |
|
|
1 Year |
5 Years |
10 Years |
Vanguard Explorer Value Fund Investor Shares |
|
|
|
Return Before Taxes |
|
|
|
Return After Taxes on Distributions |
|
|
|
Return After Taxes on Distributions and Sale of Fund Shares |
|
|
|
Russell 2500 Value Index
(reflects no deduction for fees, expenses, or taxes) |
|
|
|
Dow Jones U.S. Total Stock Market Float Adjusted Index
(reflects no deduction for fees, expenses, or taxes) |
|
|
|
Plain Talk About Fund Expenses |
All mutual funds have operating expenses. These expenses, which are
deducted from a fund’s gross income, are expressed as a percentage of the
net assets of the fund. Assuming that operating expenses remain as stated
in the Fees and Expenses section, Vanguard Explorer Value Fund’s expense
ratio would be 0.53%, or $5.30 per $1,000 of average net assets. The
average expense ratio for small-cap value funds in 2021 was 1.21%, or
$12.10 per $1,000 of average net assets (derived from data provided by
Lipper, a Thomson Reuters Company, which reports on the mutual
fund industry). |
Plain Talk About Costs of Investing |
Costs are an important consideration in choosing a mutual fund. That is
because you, as a shareholder, pay a proportionate share of the costs of
operating a fund and any transaction costs incurred when the fund buys or
sells securities. These costs can erode a substantial portion of the gross
income or the capital appreciation a fund achieves. Even seemingly small
differences in expenses can, over time, have a dramatic effect on a
fund’s performance. |
Plain Talk About Growth Funds and Value Funds |
Growth investing and value investing are two styles employed by stock-fund
managers. Growth funds generally invest in stocks of companies believed to
have above-average potential for growth in revenue, earnings, cash flow, or
other similar criteria. These stocks typically have low dividend yields, if any,
and above-average prices in relation to measures such as earnings and book
value. Value funds typically invest in stocks whose prices are below average
in relation to those measures; these stocks often have above-average
dividend yields. Value stocks also may remain undervalued by the market for
long periods of time. Growth and value stocks have historically produced
similar long-term returns, though each category has periods when it
outperforms the other. |
Plain Talk About Derivatives |
Derivatives can take many forms. Some forms of derivatives—such as
exchange-traded futures and options on securities, commodities, or
indexes—have been trading on regulated exchanges for decades. These
types of derivatives are standardized contracts that can easily be bought and
sold and whose market values are determined and published daily. On the
other hand, non-exchange-traded derivatives—such as certain swap
agreements and foreign currency exchange forward contracts—tend to be
more specialized or complex and may be more difficult to accurately value. |
Plain Talk About Vanguard’s Unique Corporate Structure |
Vanguard is owned jointly by the funds it oversees and thus indirectly by the
shareholders in those funds. Most other mutual funds are operated by
management companies that are owned by third parties—either public or
private stockholders—and not by the funds they serve. |
Plain Talk About Distributions |
As a shareholder, you are entitled to your portion of a fund’s income from
interest and dividends as well as capital gains from the fund’s sale of
investments. Income consists of both the dividends that the fund earns from
any stock holdings and the interest it receives from any money market and
bond investments. Capital gains are realized whenever the fund sells
securities for higher prices than it paid for them. These capital gains are
either short-term or long-term, depending on whether the fund held the
securities for one year or less or for more than one year. |
Plain Talk About Buying a Dividend |
Unless you are a tax-exempt investor or investing through a tax-advantaged
account (such as an IRA or an employer-sponsored retirement or savings
plan), you should consider avoiding a purchase of fund shares shortly before
the fund makes a distribution, because doing so can cost you money in
taxes. This is known as “buying a dividend.” For example: On December 15,
you invest $5,000, buying 250 shares for $20 each. If the fund pays a
distribution of $1 per share on December 16, its share price will drop to $19
(not counting market change). You still have only $5,000 (250 shares x $19 =
$4,750 in share value, plus 250 shares x $1 = $250 in distributions), but you
owe tax on the $250 distribution you received—even if you reinvest it in
more shares. To avoid buying a dividend, check a fund’s distribution schedule
before you invest. |
|
Year Ended August 31, | ||||
For a Share Outstanding Throughout Each Period |
2022 |
2021 |
2020 |
2019 |
2018 |
Net Asset Value, Beginning of Period |
$46.26 |
$30.32 |
$33.49 |
$40.53 |
$34.45 |
Investment Operations |
|
|
|
|
|
Net Investment Income1 |
.461 |
.351 |
.400 |
.494 |
.355 |
Net Realized and Unrealized Gain (Loss) on Investments |
(4.910) |
15.911 |
(3.032) |
(4.921) |
7.112 |
Total from Investment Operations |
(4.449) |
16.262 |
(2.632) |
(4.427) |
7.467 |
Distributions |
|
|
|
|
|
Dividends from Net Investment Income |
(.352) |
(.322) |
(.538) |
(.366) |
(.288) |
Distributions from Realized Capital Gains |
(1.529) |
— |
— |
(2.247) |
(1.099) |
Total Distributions |
(1.881) |
(.322) |
(.538) |
(2.613) |
(1.387) |
Net Asset Value, End of Period |
$39.93 |
$46.26 |
$30.32 |
$33.49 |
$40.53 |
Total Return2 |
-10.05% |
53.90% |
-8.12% |
-10.10% |
22.10% |
Ratios/Supplemental Data |
|
|
|
|
|
Net Assets, End of Period (Millions) |
$1,083 |
$1,164 |
$563 |
$655 |
$768 |
Ratio of Total Expenses to Average Net Assets3 |
0.53%4 |
0.52% |
0.64% |
0.55% |
0.56% |
Ratio of Net Investment Income to Average Net Assets |
1.05% |
0.85% |
1.28% |
1.45% |
0.95% |
Portfolio Turnover Rate |
31% |
41% |
42% |
27% |
31% |
|
|
1 |
Calculated based on average shares outstanding. |
2 |
Total returns do not include account service fees that may have applied in the periods shown. Fund prospectuses
provide information about any applicable account service fees. |
3 |
Includes performance-based investment advisory fee increases (decreases) of 0.02%, 0.01%, 0.09%, 0.01%, and
0.03%. |
4 |
The ratio of expenses to average net assets for the period net of reduction from broker commission abatement
arrangements was 0.53%. |
Web |
|
Vanguard.com |
For the most complete source of Vanguard news
For fund, account, and service information
For most account transactions
For literature requests
24 hours a day, 7 days a week |
Phone | |
Vanguard Tele-Account®
800-662-6273 |
For automated fund and account information
Toll-free, 24 hours a day, 7 days a week |
Investor Information 800-662-7447
(Text telephone for people with
hearing impairment at 800-749-7273) |
For fund and service information
For literature requests |
Client Services 800-662-2739
(Text telephone for people with
hearing impairment at 800-749-7273) |
For account information
For most account transactions |
Participant Services 800-523-1188
(Text telephone for people with
hearing impairment at 800-749-7273) |
For information and services for participants in
employer-sponsored plans |
Institutional Division
888-809-8102 |
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Sales Support 800-997-2798 |
For information and services for financial intermediaries
including financial advisors, broker-dealers, trust
institutions, and insurance companies |
Financial Advisory and Intermediary
Trading Support 800-669-0498 |
For account information and trading support for
financial intermediaries including financial advisors,
broker-dealers, trust institutions, and insurance
companies |
Vanguard Fund |
Inception
Date |
Newspaper
Abbreviation |
Vanguard
Fund Number |
CUSIP
Number |
Vanguard Explorer Value Fund |
3/30/2010 |
ExpValFd |
1690 |
92206C748 |
| |
Sales Charge (Load) Imposed on Purchases |
|
Purchase Fee |
|
Sales Charge (Load) Imposed on Reinvested Dividends |
|
Redemption Fee |
|
Account Service Fee Per Year
(for certain fund account balances below $1,000,000) |
$ |
| |
Management Fees |
|
12b-1 Distribution Fee |
|
Other Expenses |
|
Total Annual Fund Operating Expenses |
|
1 Year |
3 Years |
5 Years |
10 Years |
$ |
$ |
$ |
$ |
|
Total Return |
Quarter |
|
|
|
|
- |
|
|
1 Year |
5 Years |
10 Years |
Vanguard Short-Term Treasury Index Fund Admiral Shares |
|
|
|
Return Before Taxes |
- |
|
|
Return After Taxes on Distributions |
- |
|
|
Return After Taxes on Distributions and Sale of Fund Shares |
- |
|
|
Bloomberg U.S. Treasury 1-3 Year Index
(reflects no deduction for fees, expenses, or taxes) |
- |
|
|
Spliced Bloomberg U.S. Treasury 1-3 Year Index in USD
(reflects no deduction for fees, expenses, or taxes) |
- |
|
|
Bloomberg U.S. Aggregate Float Adjusted Index
(reflects no deduction for fees, expenses, or taxes) |
- |
|
|
| |
Sales Charge (Load) Imposed on Purchases |
|
Purchase Fee |
|
Sales Charge (Load) Imposed on Reinvested Dividends |
|
Redemption Fee |
|
Account Service Fee Per Year
(for certain fund account balances below $1,000,000) |
$ |
| |
Management Fees |
|
12b-1 Distribution Fee |
|
Other Expenses |
|
Total Annual Fund Operating Expenses |
|
1 Year |
3 Years |
5 Years |
10 Years |
$ |
$ |
$ |
$ |
|
Total Return |
Quarter |
|
|
|
|
- |
|
|
1 Year |
5 Years |
10 Years |
Vanguard Intermediate-Term Treasury Index Fund
Admiral Shares |
|
|
|
Return Before Taxes |
- |
|
|
Return After Taxes on Distributions |
- |
|
|
Return After Taxes on Distributions and Sale of Fund Shares |
- |
|
|
Bloomberg U.S. Treasury 3-10 Year Index
(reflects no deduction for fees, expenses, or taxes) |
- |
|
|
Spliced Bloomberg U.S. Treasury 3-10 Year Index in USD
(reflects no deduction for fees, expenses, or taxes) |
- |
|
|
Bloomberg U.S. Aggregate Float Adjusted Index
(reflects no deduction for fees, expenses, or taxes) |
- |
|
|
| |
Sales Charge (Load) Imposed on Purchases |
|
Purchase Fee |
|
Sales Charge (Load) Imposed on Reinvested Dividends |
|
Redemption Fee |
|
Account Service Fee Per Year
(for certain fund account balances below $1,000,000) |
$ |
| |
Management Fees |
|
12b-1 Distribution Fee |
|
Other Expenses |
|
Total Annual Fund Operating Expenses |
|
1 Year |
3 Years |
5 Years |
10 Years |
$ |
$ |
$ |
$ |
|
Total Return |
Quarter |
|
|
|
|
- |
|
|
1 Year |
5 Years |
10 Years |
Vanguard Long-Term Treasury Index Fund Admiral Shares |
|
|
|
Return Before Taxes |
- |
|
|
Return After Taxes on Distributions |
- |
|
|
Return After Taxes on Distributions and Sale of Fund Shares |
- |
|
|
Bloomberg U.S. Long Treasury Bond Index
(reflects no deduction for fees, expenses, or taxes) |
- |
|
|
Spliced Bloomberg U.S. Long Treasury Index in USD
(reflects no deduction for fees, expenses, or taxes) |
- |
|
|
Bloomberg U.S. Aggregate Float Adjusted Index
(reflects no deduction for fees, expenses, or taxes) |
- |
|
|
| |
Sales Charge (Load) Imposed on Purchases |
|
Purchase Fee |
|
Sales Charge (Load) Imposed on Reinvested Dividends |
|
Redemption Fee |
|
Account Service Fee Per Year
(for certain fund account balances below $1,000,000) |
$ |
| |
Management Fees |
|
12b-1 Distribution Fee |
|
Other Expenses |
|
Total Annual Fund Operating Expenses |
|
1 Year |
3 Years |
5 Years |
10 Years |
$ |
$ |
$ |
$ |
|
Total Return |
Quarter |
|
|
|
|
- |
|
|
1 Year |
5 Years |
10 Years |
Vanguard Short-Term Corporate Bond Index Fund
Admiral Shares |
|
|
|
Return Before Taxes |
- |
|
|
Return After Taxes on Distributions |
- |
|
|
Return After Taxes on Distributions and Sale of Fund Shares |
- |
|
|
Bloomberg U.S. 1-5 Year Corporate Bond Index
(reflects no deduction for fees, expenses, or taxes) |
- |
|
|
Bloomberg U.S. Aggregate Float Adjusted Index
(reflects no deduction for fees, expenses, or taxes) |
- |
|
|
| |
Sales Charge (Load) Imposed on Purchases |
|
Purchase Fee |
|
Sales Charge (Load) Imposed on Reinvested Dividends |
|
Redemption Fee |
|
Account Service Fee Per Year
(for certain fund account balances below $1,000,000) |
$ |
| |
Management Fees |
|
12b-1 Distribution Fee |
|
Other Expenses |
|
Total Annual Fund Operating Expenses |
|
1 Year |
3 Years |
5 Years |
10 Years |
$ |
$ |
$ |
$ |
|
Total Return |
Quarter |
|
|
|
|
- |
|
|
1 Year |
5 Years |
10 Years |
Vanguard Intermediate-Term Corporate Bond Index Fund
Admiral Shares |
|
|
|
Return Before Taxes |
- |
|
|
Return After Taxes on Distributions |
- |
|
|
Return After Taxes on Distributions and Sale of Fund Shares |
- |
|
|
Bloomberg U.S. 5-10 Year Corporate Bond Index
(reflects no deduction for fees, expenses, or taxes) |
- |
|
|
Bloomberg U.S. Aggregate Float Adjusted Index
(reflects no deduction for fees, expenses, or taxes) |
- |
|
|
| |
Sales Charge (Load) Imposed on Purchases |
|
Purchase Fee |
|
Sales Charge (Load) Imposed on Reinvested Dividends |
|
Redemption Fee |
|
Account Service Fee Per Year
(for certain fund account balances below $1,000,000) |
$ |
| |
Management Fees |
|
12b-1 Distribution Fee |
|
Other Expenses |
|
Total Annual Fund Operating Expenses |
|
1 Year |
3 Years |
5 Years |
10 Years |
$ |
$ |
$ |
$ |
|
Total Return |
Quarter |
|
|
|
|
- |
|
|
1 Year |
5 Years |
10 Years |
Vanguard Long-Term Corporate Bond Index Fund
Admiral Shares |
|
|
|
Return Before Taxes |
- |
|
|
Return After Taxes on Distributions |
- |
|
|
Return After Taxes on Distributions and Sale of Fund Shares |
- |
|
|
Bloomberg U.S. 10+ Year Corporate Bond Index
(reflects no deduction for fees, expenses, or taxes) |
- |
|
|
Bloomberg U.S. Aggregate Float Adjusted Index
(reflects no deduction for fees, expenses, or taxes) |
- |
|
|
| |
Sales Charge (Load) Imposed on Purchases |
|
Purchase Fee |
|
Sales Charge (Load) Imposed on Reinvested Dividends |
|
Redemption Fee |
|
Account Service Fee Per Year
(for certain fund account balances below $1,000,000) |
$ |
| |
Management Fees |
|
12b-1 Distribution Fee |
|
Other Expenses |
|
Total Annual Fund Operating Expenses |
|
1 Year |
3 Years |
5 Years |
10 Years |
$ |
$ |
$ |
$ |
|
Total Return |
Quarter |
|
|
|
|
- |
|
|
1 Year |
5 Years |
10 Years |
Vanguard Mortgage-Backed Securities Index Fund
Admiral Shares |
|
|
|
Return Before Taxes |
- |
|
|
Return After Taxes on Distributions |
- |
|
|
Return After Taxes on Distributions and Sale of Fund Shares |
- |
|
|
Bloomberg U.S. MBS Float Adjusted Index
(reflects no deduction for fees, expenses, or taxes) |
- |
|
|
Bloomberg U.S. Aggregate Float Adjusted Index
(reflects no deduction for fees, expenses, or taxes) |
- |
|
|
Plain Talk About Costs of Investing |
Costs are an important consideration in choosing a mutual fund. That is
because you, as a shareholder, pay a proportionate share of the costs of
operating a fund and any transaction costs incurred when the fund buys or
sells securities. These costs can erode a substantial portion of the gross
income or the capital appreciation a fund achieves. Even seemingly small
differences in expenses can, over time, have a dramatic effect on a
fund’s performance. |
Type of Bond (Maturity) |
After a 1%
Increase |
After a 1%
Decrease |
After a 2%
Increase |
After a 2%
Decrease |
Short-Term (2.5 years) |
$977 |
$1,024 |
$954 |
$1,049 |
Intermediate-Term (10 years) |
922 |
1,086 |
851 |
1,180 |
Long-Term (20 years) |
874 |
1,150 |
769 |
1,328 |
Plain Talk About Bonds and Interest Rates |
As a rule, when interest rates rise, bond prices fall. The opposite is also true:
Bond prices go up when interest rates fall. Why do bond prices and interest
rates move in opposite directions? Let’s assume that you hold a bond
offering a 4% yield. A year later, interest rates are on the rise and bonds of
comparable quality and maturity are offered with a 5% yield. With
higher-yielding bonds available, you would have trouble selling your 4% bond
for the price you paid—you would probably have to lower your asking price.
On the other hand, if interest rates were falling and 3% bonds were being
offered, you should be able to sell your 4% bond for more than you paid. |
How mortgage-backed securities are different: In general, declining interest
rates will not lift the prices of mortgage-backed securities—such as those
guaranteed by the Government National Mortgage Association—as much as
the prices of comparable bonds. Why? Because when interest rates fall, the
bond market tends to discount the prices of mortgage-backed securities for
prepayment risk—the possibility that homeowners will refinance their
mortgages at lower rates and cause the bonds to be paid off prior to
maturity. In part to compensate for this prepayment possibility,
mortgage-backed securities tend to offer higher yields than other bonds of
comparable credit quality and maturity. In contrast, when interest rates rise,
prepayments tend to slow down, subjecting mortgage-backed securities to
extension risk—the possibility that homeowners will repay their mortgages
at slower rates. This will lengthen the duration or average life of
mortgage-backed securities held by a fund and delay the fund’s ability to
reinvest proceeds at higher interest rates, making the fund more sensitive to
changes in interest rates. |
Plain Talk About Bond Maturities |
A bond is issued with a specific maturity date—the date when the issuer
must pay back the bond’s principal (face value). Bond maturities range from
less than 1 year to more than 30 years. Typically, the longer a bond’s maturity,
the more price risk you, as a bond investor, will face as interest rates
rise—but also the higher the potential yield you could receive. Longer-term
bonds are generally more suitable for investors willing to take a greater risk
of price fluctuations to get higher and more stable interest income.
Shorter-term bond investors should be willing to accept lower yields and
greater income variability in return for less fluctuation in the value of their
investment. The stated maturity of a bond may differ from the effective
maturity of a bond, which takes into consideration that an action such as a
call or refunding may cause bonds to be repaid before their stated
maturity dates. |
Plain Talk About Credit Quality |
A bond’s credit quality rating is an assessment of the issuer’s ability to pay
interest on the bond and, ultimately, to repay the principal. The lower the
credit quality, the greater the perceived chance that the bond issuer will
default, or fail to meet its payment obligations. All things being equal, the
lower a bond’s credit quality, the higher its yield should be to compensate
investors for assuming additional risk. Mortgage-backed securities typically
have higher yields than comparable-quality corporate or government bonds
to make up for their higher prepayment risk. |
Plain Talk About Types of Bonds |
Bonds are issued (sold) by many sources: Corporations issue corporate
bonds; the federal government issues U.S. Treasury bonds; agencies of the
federal government issue agency bonds; financial institutions issue
asset-backed bonds; and mortgage holders issue “mortgage-backed”
pass-through certificates. Each issuer is responsible for paying back the
bond’s initial value as well as for making periodic interest payments. Many
bonds issued by government agencies and entities are neither guaranteed
nor insured by the U.S. government. |
Vanguard Fund |
Number of
Bonds in Fund |
Number of Bonds
in Target Index |
Vanguard Short-Term Treasury Index Fund |
97 |
93 |
Vanguard Intermediate-Term Treasury
Index Fund |
111 |
111 |
Vanguard Long-Term Treasury Index Fund |
70 |
70 |
Vanguard Short-Term Corporate Bond
Index Fund |
2,367 |
2,441 |
Vanguard Intermediate-Term Corporate
Bond Index Fund |
2,114 |
2,053 |
Vanguard Long-Term Corporate Bond
Index Fund |
2,667 |
2,797 |
Vanguard Mortgage-Backed Securities
Index Fund |
1,0061 |
431 |
|
Treasury Index
Funds |
Corporate Bond
Index Funds |
Mortgage-Backed
Securities
Index Fund |
Corporate Debt Obligations |
|
• |
|
U.S. Government and Agency Bonds |
• |
• |
• |
Mortgage-Backed Securities |
|
|
• |
Mortgage Dollar Rolls |
|
|
• |
Cash Equivalent Investments,
Including Repurchase Agreements |
• |
• |
• |
Futures, Options, and Other
Derivatives |
• |
• |
• |
International Dollar-Denominated
Bonds |
|
• |
|
Plain Talk About U.S. Government-Sponsored Enterprises |
A variety of U.S. government-sponsored enterprises (GSEs), such as the
Federal Home Loan Mortgage Corporation (FHLMC), the Federal National
Mortgage Association (FNMA), and the Federal Home Loan Banks (FHLBs),
issue debt and mortgage-backed securities. Although GSEs may be chartered
or sponsored by acts of Congress, they are not funded by congressional
appropriations. In September of 2008, the U.S. Treasury placed FNMA and
FHLMC under conservatorship and appointed the Federal Housing Finance
Agency (FHFA) to manage their daily operations. In addition, the U.S. Treasury
entered into purchase agreements with FNMA and FHLMC to provide them
with capital in exchange for senior preferred stock. Generally, a GSE’s
securities are neither issued nor guaranteed by the U.S. Treasury and are not
backed by the full faith and credit of the U.S. government. In most cases,
these securities are supported only by the credit of the GSE, standing alone. In
some cases, a GSE’s securities may be supported by the ability of the GSE to
borrow from the U.S. Treasury or may be supported by the U.S. government in
some other way. Securities issued by the Government National Mortgage
Association (GNMA), however, are backed by the full faith and credit of the
U.S. government. |
Plain Talk About Derivatives |
Derivatives can take many forms. Some forms of derivatives—such as
exchange-traded futures and options on securities, commodities, or
indexes—have been trading on regulated exchanges for decades. These
types of derivatives are standardized contracts that can easily be bought and
sold and whose market values are determined and published daily. On the
other hand, non-exchange-traded derivatives—such as certain swap
agreements—tend to be more specialized or complex and may be more
difficult to accurately value. |
Plain Talk About Vanguard’s Unique Corporate Structure |
Vanguard is owned jointly by the funds it oversees and thus indirectly by the
shareholders in those funds. Most other mutual funds are operated by
management companies that are owned by third parties—either public or
private stockholders—and not by the funds they serve. |
Plain Talk About Distributions |
As a shareholder, you are entitled to your portion of a fund’s income from
interest as well as capital gains from the fund’s sale of investments. Income
consists of interest the fund earns from its money market and bond
investments. Capital gains are realized whenever the fund sells securities for
higher prices than it paid for them. These capital gains are either short-term
or long-term, depending on whether the fund held the securities for one year
or less or for more than one year. |
|
Year Ended August 31, | ||||
For a Share Outstanding Throughout Each Period |
2022 |
2021 |
2020 |
2019 |
2018 |
Net Asset Value, Beginning of Period |
$20.51 |
$20.71 |
$20.35 |
$19.95 |
$20.29 |
Investment Operations |
|
|
|
|
|
Net Investment Income1 |
.114 |
.095 |
.312 |
.472 |
.324 |
Net Realized and Unrealized Gain (Loss) on Investments |
(.949) |
(.078) |
.375 |
.384 |
(.358) |
Total from Investment Operations |
(.835) |
.017 |
.687 |
.856 |
(.034) |
Distributions |
|
|
|
|
|
Dividends from Net Investment Income |
(.112) |
(.093) |
(.327) |
(.456) |
(.306) |
Distributions from Realized Capital Gains |
(.063) |
(.124) |
— |
— |
— |
Total Distributions |
(.175) |
(.217) |
(.327) |
(.456) |
(.306) |
Net Asset Value, End of Period |
$19.50 |
$20.51 |
$20.71 |
$20.35 |
$19.95 |
Total Return2 |
-4.09% |
0.08% |
3.41% |
4.34% |
-0.16% |
Ratios/Supplemental Data |
|
|
|
|
|
Net Assets, End of Period (Millions) |
$2,506 |
$2,430 |
$2,748 |
$1,596 |
$929 |
Ratio of Total Expenses to Average Net Assets |
0.07%3 |
0.07% |
0.07% |
0.07% |
0.07% |
Ratio of Net Investment Income to Average Net Assets |
0.57% |
0.46% |
1.52% |
2.35% |
1.61% |
Portfolio Turnover Rate4 |
59% |
66% |
67% |
55% |
67% |
|
|
1 |
Calculated based on average shares outstanding. |
2 |
Total returns do not include account service fees that may have applied in the periods shown. Fund prospectuses
provide information about any applicable account service fees. |
3 |
The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements
was 0.07%. |
4 |
Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of
the fund’s capital shares, including ETF Creation Units. |
|
Year Ended August 31, | ||||
For a Share Outstanding Throughout Each Period |
2022 |
2021 |
2020 |
2019 |
2018 |
Net Asset Value, Beginning of Period |
$23.04 |
$23.78 |
$22.68 |
$21.13 |
$22.03 |
Investment Operations |
|
|
|
|
|
Net Investment Income1 |
.283 |
.267 |
.416 |
.507 |
.418 |
Net Realized and Unrealized Gain (Loss) on Investments |
(2.575) |
(.577) |
1.101 |
1.540 |
(.911) |
Total from Investment Operations |
(2.292) |
(.310) |
1.517 |
2.047 |
(.493) |
Distributions |
|
|
|
|
|
Dividends from Net Investment Income |
(.274) |
(.265) |
(.417) |
(.497) |
(.407) |
Distributions from Realized Capital Gains |
(.124) |
(.165) |
— |
— |
— |
Total Distributions |
(.398) |
(.430) |
(.417) |
(.497) |
(.407) |
Net Asset Value, End of Period |
$20.35 |
$23.04 |
$23.78 |
$22.68 |
$21.13 |
Total Return2 |
-10.05% |
-1.31% |
6.76% |
9.83% |
-2.24% |
Ratios/Supplemental Data |
|
|
|
|
|
Net Assets, End of Period (Millions) |
$2,886 |
$2,646 |
$2,740 |
$1,887 |
$1,104 |
Ratio of Total Expenses to Average Net Assets |
0.07%3 |
0.07% |
0.07% |
0.07% |
0.07% |
Ratio of Net Investment Income to Average Net Assets |
1.31% |
1.15% |
1.79% |
2.34% |
1.97% |
Portfolio Turnover Rate4 |
36% |
33% |
28% |
29% |
31% |
|
|
1 |
Calculated based on average shares outstanding. |
2 |
Total returns do not include account service fees that may have applied in the periods shown. Fund prospectuses
provide information about any applicable account service fees. |
3 |
The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements
was 0.07%. |
4 |
Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of
the fund’s capital shares, including ETF Creation Units. |
|
Year Ended August 31, | ||||
For a Share Outstanding Throughout Each Period |
2022 |
2021 |
2020 |
2019 |
2018 |
Net Asset Value, Beginning of Period |
$30.35 |
$33.24 |
$30.28 |
$24.95 |
$26.44 |
Investment Operations |
|
|
|
|
|
Net Investment Income1 |
.565 |
.545 |
.637 |
.706 |
.690 |
Net Realized and Unrealized Gain (Loss) on Investments |
(7.380) |
(2.799) |
2.955 |
5.316 |
(1.501) |
Total from Investment Operations |
(6.815) |
(2.254) |
3.592 |
6.022 |
(.811) |
Distributions |
|
|
|
|
|
Dividends from Net Investment Income |
(.555) |
(.538) |
(.632) |
(.692) |
(.679) |
Distributions from Realized Capital Gains |
— |
(.098) |
— |
— |
— |
Total Distributions |
(.555) |
(.636) |
(.632) |
(.692) |
(.679) |
Net Asset Value, End of Period |
$22.98 |
$30.35 |
$33.24 |
$30.28 |
$24.95 |
Total Return2 |
-22.69% |
-6.78% |
12.00% |
24.67% |
-3.06% |
Ratios/Supplemental Data |
|
|
|
|
|
Net Assets, End of Period (Millions) |
$1,369 |
$1,947 |
$1,800 |
$1,053 |
$559 |
Ratio of Total Expenses to Average Net Assets |
0.07%3 |
0.07% |
0.07% |
0.07% |
0.07% |
Ratio of Net Investment Income to Average Net Assets |
2.09% |
1.79% |
2.01% |
2.73% |
2.73% |
Portfolio Turnover Rate4 |
19% |
22% |
29% |
16% |
19% |
|
|
1 |
Calculated based on average shares outstanding. |
2 |
Total returns do not include account service fees that may have applied in the periods shown. Fund prospectuses
provide information about any applicable account service fees. |
3 |
The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements
was 0.07%. |
4 |
Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of
the fund’s capital shares, including ETF Creation Units. |
|
Year Ended August 31, | ||||
For a Share Outstanding Throughout Each Period |
2022 |
2021 |
2020 |
2019 |
2018 |
Net Asset Value, Beginning of Period |
$22.49 |
$22.55 |
$22.06 |
$21.28 |
$21.81 |
Investment Operations |
|
|
|
|
|
Net Investment Income1 |
.351 |
.385 |
.578 |
.625 |
.532 |
Net Realized and Unrealized Gain (Loss) on Investments |
(1.741) |
(.063) |
.485 |
.777 |
(.531) |
Total from Investment Operations |
(1.390) |
.322 |
1.063 |
1.402 |
.001 |
Distributions |
|
|
|
|
|
Dividends from Net Investment Income |
(.350) |
(.382) |
(.573) |
(.622) |
(.531) |
Distributions from Realized Capital Gains |
(.050) |
— |
— |
— |
— |
Total Distributions |
(.400) |
(.382) |
(.573) |
(.622) |
(.531) |
Net Asset Value, End of Period |
$20.70 |
$22.49 |
$22.55 |
$22.06 |
$21.28 |
Total Return2 |
-6.24% |
1.44% |
4.90% |
6.70% |
0.02% |
Ratios/Supplemental Data |
|
|
|
|
|
Net Assets, End of Period (Millions) |
$4,647 |
$5,435 |
$4,703 |
$4,312 |
$3,533 |
Ratio of Total Expenses to Average Net Assets |
0.07%3 |
0.07% |
0.07% |
0.07% |
0.07% |
Ratio of Net Investment Income to Average Net Assets |
1.63% |
1.71% |
2.61% |
2.90% |
2.48% |
Portfolio Turnover Rate4 |
50% |
42% |
56% |
51% |
56% |
|
|
1 |
Calculated based on average shares outstanding. |
2 |
Total returns do not include account service fees that may have applied in the periods shown. Fund prospectuses
provide information about any applicable account service fees. |
3 |
The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements
was 0.07%. |
4 |
Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of
the fund’s capital shares, including ETF Creation Units. |
|
Year Ended August 31, | ||||
For a Share Outstanding Throughout Each Period |
2022 |
2021 |
2020 |
2019 |
2018 |
Net Asset Value, Beginning of Period |
$25.75 |
$25.86 |
$24.71 |
$22.61 |
$23.78 |
Investment Operations |
|
|
|
|
|
Net Investment Income1 |
.577 |
.578 |
.747 |
.839 |
.792 |
Net Realized and Unrealized Gain (Loss) on Investments |
(4.098) |
(.062) |
1.138 |
2.097 |
(1.175) |
Total from Investment Operations |
(3.521) |
.516 |
1.885 |
2.936 |
(.383) |
Distributions |
|
|
|
|
|
Dividends from Net Investment Income |
(.579) |
(.572) |
(.735) |
(.836) |
(.787) |
Distributions from Realized Capital Gains |
(.160) |
(.054) |
— |
— |
— |
Total Distributions |
(.739) |
(.626) |
(.735) |
(.836) |
(.787) |
Net Asset Value, End of Period |
$21.49 |
$25.75 |
$25.86 |
$24.71 |
$22.61 |
Total Return2 |
-13.90% |
2.03% |
7.79% |
13.30% |
-1.61% |
Ratios/Supplemental Data |
|
|
|
|
|
Net Assets, End of Period (Millions) |
$1,139 |
$1,587 |
$1,549 |
$1,381 |
$1,076 |
Ratio of Total Expenses to Average Net Assets |
0.07%3 |
0.07% |
0.07% |
0.07% |
0.07% |
Ratio of Net Investment Income to Average Net Assets |
2.44% |
2.25% |
3.01% |
3.63% |
3.44% |
Portfolio Turnover Rate4 |
58% |
53% |
72% |
59% |
65% |
|
|
1 |
Calculated based on average shares outstanding. |
2 |
Total returns do not include transaction or account service fees that may have applied in the periods shown. Fund
prospectuses provide information about any applicable transaction and account service fees. |
3 |
The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements
was 0.07%. |
4 |
Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of
the fund’s capital shares, including ETF Creation Units. |
|
Year Ended August 31, | ||||
For a Share Outstanding Throughout Each Period |
2022 |
2021 |
2020 |
2019 |
2018 |
Net Asset Value, Beginning of Period |
$29.03 |
$28.68 |
$27.55 |
$23.65 |
$25.18 |
Investment Operations |
|
|
|
|
|
Net Investment Income1 |
.875 |
.877 |
.988 |
1.053 |
1.043 |
Net Realized and Unrealized Gain (Loss) on Investments2 |
(7.473) |
.345 |
1.125 |
3.895 |
(1.536) |
Total from Investment Operations |
(6.598) |
1.222 |
2.113 |
4.948 |
(.493) |
Distributions |
|
|
|
|
|
Dividends from Net Investment Income |
(.872) |
(.872) |
(.983) |
(1.048) |
(1.037) |
Distributions from Realized Capital Gains |
— |
— |
— |
— |
— |
Total Distributions |
(.872) |
(.872) |
(.983) |
(1.048) |
(1.037) |
Net Asset Value, End of Period |
$21.56 |
$29.03 |
$28.68 |
$27.55 |
$23.65 |
Total Return3 |
-23.10% |
4.37% |
7.87% |
21.64% |
-2.00% |
Ratios/Supplemental Data |
|
|
|
|
|
Net Assets, End of Period (Millions) |
$272 |
$314 |
$320 |
$256 |
$186 |
Ratio of Total Expenses to Average Net Assets |
0.07%4 |
0.07% |
0.07% |
0.07% |
0.07% |
Ratio of Net Investment Income to Average Net Assets |
3.44% |
3.08% |
3.58% |
4.34% |
4.26% |
Portfolio Turnover Rate5 |
31% |
36% |
62% |
47% |
48% |
|
|
1 |
Calculated based on average shares outstanding. |
2 |
Includes increases from purchase fees of $.00, $.01, $.00, $.00, and $.03. |
3 |
Total returns do not include transaction or account service fees that may have applied in the periods shown. Fund
prospectuses provide information about any applicable transaction and account service fees. |
4 |
The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements
was 0.07%. |
5 |
Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of
the fund’s capital shares, including ETF Creation Units. |
|
Year Ended August 31, | ||||
For a Share Outstanding Throughout Each Period |
2022 |
2021 |
2020 |
2019 |
2018 |
Net Asset Value, Beginning of Period |
$21.37 |
$21.72 |
$21.26 |
$20.51 |
$21.17 |
Investment Operations |
|
|
|
|
|
Net Investment Income1 |
.328 |
.211 |
.470 |
.622 |
.528 |
Net Realized and Unrealized Gain (Loss) on Investments |
(2.391) |
(.292) |
.463 |
.742 |
(.674) |
Total from Investment Operations |
(2.063) |
(.081) |
.933 |
1.364 |
(.146) |
Distributions |
|
|
|
|
|
Dividends from Net Investment Income |
(.327) |
(.225) |
(.473) |
(.614) |
(.514) |
Distributions from Realized Capital Gains |
— |
(.044) |
— |
— |
— |
Total Distributions |
(.327) |
(.269) |
(.473) |
(.614) |
(.514) |
Net Asset Value, End of Period |
$18.98 |
$21.37 |
$21.72 |
$21.26 |
$20.51 |
Total Return2 |
-9.72% |
-0.38% |
4.43% |
6.77% |
-0.68% |
Ratios/Supplemental Data |
|
|
|
|
|
Net Assets, End of Period (Millions) |
$1,219 |
$1,419 |
$1,159 |
$841 |
$725 |
Ratio of Total Expenses to Average Net Assets |
0.07%3 |
0.07% |
0.07% |
0.07% |
0.07% |
Ratio of Net Investment Income to Average Net Assets |
1.62% |
0.98% |
2.18% |
2.99% |
2.56% |
Portfolio Turnover Rate4 |
170% |
316% |
218% |
190% |
279% |
|
|
1 |
Calculated based on average shares outstanding. |
2 |
Total returns do not include account service fees that may have applied in the periods shown. Fund prospectuses
provide information about any applicable account service fees. |
3 |
The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements
was 0.07%. |
4 |
Includes 113%, 237%, 11%, 34%, and 78%, respectively, attributable to mortgage-dollar-roll activity. |
Web |
|
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Vanguard Fund |
Inception
Date |
Newspaper
Abbreviation |
Vanguard
Fund Number |
CUSIP
Number |
Vanguard Short-Term Treasury Index Fund | ||||
Admiral Shares |
12/28/2009 |
STGovIxAdm |
1942 |
92206C300 |
Vanguard Intermediate-Term Treasury Index Fund | ||||
Admiral Shares |
8/4/2010 |
ITGovIxAdm |
1943 |
92206C888 |
Vanguard Long-Term Treasury Index Fund | ||||
Admiral Shares |
3/1/2010 |
LTGovIxAdm |
1944 |
92206C821 |
Vanguard Short-Term Corporate Bond Index Fund | ||||
Admiral Shares |
11/18/2010 |
STCorpIxAdm |
1945 |
92206C607 |
Vanguard Intermediate-Term Corporate Bond Index Fund | ||||
Admiral Shares |
3/2/2010 |
ITCorpIxAdm |
1946 |
92206C854 |
Vanguard Long-Term Corporate Bond Index Fund | ||||
Admiral Shares |
1/19/2010 |
LTCorpIxAdm |
1947 |
92206C789 |
Vanguard Mortgage-Backed Securities Index Fund | ||||
Admiral Shares |
12/3/2009 |
MrgBkdIxAdm |
1948 |
92206C755 |
| |
Sales Charge (Load) Imposed on Purchases |
|
Purchase Fee |
|
Sales Charge (Load) Imposed on Reinvested Dividends |
|
Redemption Fee |
|
| |
Management Fees |
|
12b-1 Distribution Fee |
|
Other Expenses |
|
Total Annual Fund Operating Expenses |
|
1 Year |
3 Years |
5 Years |
10 Years |
$ |
$ |
$ |
$ |
|
Total Return |
Quarter |
|
|
|
|
- |
|
|
1 Year |
5 Years |
10 Years |
Vanguard Short-Term Treasury Index Fund
Institutional Shares |
|
|
|
Return Before Taxes |
- |
|
|
Return After Taxes on Distributions |
- |
|
|
Return After Taxes on Distributions and Sale of Fund Shares |
- |
|
|
Bloomberg U.S. Treasury 1-3 Year Index
(reflects no deduction for fees, expenses, or taxes) |
- |
|
|
Spliced Bloomberg U.S. Treasury 1-3 Year Index in USD
(reflects no deduction for fees, expenses, or taxes) |
- |
|
|
Bloomberg U.S. Aggregate Float Adjusted Index
(reflects no deduction for fees, expenses, or taxes) |
- |
|
|
| |
Sales Charge (Load) Imposed on Purchases |
|
Purchase Fee |
|
Sales Charge (Load) Imposed on Reinvested Dividends |
|
Redemption Fee |
|
| |
Management Fees |
|
12b-1 Distribution Fee |
|
Other Expenses |
|
Total Annual Fund Operating Expenses |
|
1 Year |
3 Years |
5 Years |
10 Years |
$ |
$ |
$ |
$ |
|
Total Return |
Quarter |
|
|
|
|
- |
|
|
1 Year |
5 Years |
10 Years |
Vanguard Intermediate-Term Treasury Index Fund
Institutional Shares |
|
|
|
Return Before Taxes |
- |
|
|
Return After Taxes on Distributions |
- |
|
|
Return After Taxes on Distributions and Sale of Fund Shares |
- |
|
|
Bloomberg U.S. Treasury 3-10 Year Index
(reflects no deduction for fees, expenses, or taxes) |
- |
|
|
Spliced Bloomberg U.S. Treasury 3-10 Year Index in USD
(reflects no deduction for fees, expenses, or taxes) |
- |
|
|
Bloomberg U.S. Aggregate Float Adjusted Index
(reflects no deduction for fees, expenses, or taxes) |
- |
|
|
| |
Sales Charge (Load) Imposed on Purchases |
|
Purchase Fee |
|
Sales Charge (Load) Imposed on Reinvested Dividends |
|
Redemption Fee |
|
| |
Management Fees |
|
12b-1 Distribution Fee |
|
Other Expenses |
|
Total Annual Fund Operating Expenses |
|
1 Year |
3 Years |
5 Years |
10 Years |
$ |
$ |
$ |
$ |
|
Total Return |
Quarter |
|
|
|
|
- |
|
|
1 Year |
5 Years |
10 Years |
Vanguard Long-Term Treasury Index Fund
Institutional Shares |
|
|
|
Return Before Taxes |
- |
|
|
Return After Taxes on Distributions |
- |
|
|
Return After Taxes on Distributions and Sale of Fund Shares |
- |
|
|
Bloomberg U.S. Long Treasury Bond Index
(reflects no deduction for fees, expenses, or taxes) |
- |
|
|
Spliced Bloomberg U.S. Long Treasury Index in USD
(reflects no deduction for fees, expenses, or taxes) |
- |
|
|
Bloomberg U.S. Aggregate Float Adjusted Index
(reflects no deduction for fees, expenses, or taxes) |
- |
|
|
| |
Sales Charge (Load) Imposed on Purchases |
|
Purchase Fee |
|
Sales Charge (Load) Imposed on Reinvested Dividends |
|
Redemption Fee |
|
| |
Management Fees |
|
12b-1 Distribution Fee |
|
Other Expenses |
|
Total Annual Fund Operating Expenses |
|
1 Year |
3 Years |
5 Years |
10 Years |
$ |
$ |
$ |
$ |
|
Total Return |
Quarter |
|
|
|
|
- |
|
|
1 Year |
5 Years |
10 Years |
Vanguard Short-Term Corporate Bond Index Fund
Institutional Shares |
|
|
|
Return Before Taxes |
- |
|
|
Return After Taxes on Distributions |
- |
|
|
Return After Taxes on Distributions and Sale of Fund Shares |
- |
|
|
Bloomberg U.S. 1-5 Year Corporate Bond Index
(reflects no deduction for fees, expenses, or taxes) |
- |
|
|
Bloomberg U.S. Aggregate Float Adjusted Index
(reflects no deduction for fees, expenses, or taxes) |
- |
|
|
| |
Sales Charge (Load) Imposed on Purchases |
|
Purchase Fee |
|
Sales Charge (Load) Imposed on Reinvested Dividends |
|
Redemption Fee |
|
| |
Management Fees |
|
12b-1 Distribution Fee |
|
Other Expenses |
|
Total Annual Fund Operating Expenses |
|
1 Year |
3 Years |
5 Years |
10 Years |
$ |
$ |
$ |
$ |
|
Total Return |
Quarter |
|
|
|
|
- |
|
|
1 Year |
5 Years |
10 Years |
Vanguard Intermediate-Term Corporate Bond Index Fund
Institutional Shares |
|
|
|
Return Before Taxes |
- |
|
|
Return After Taxes on Distributions |
- |
|
|
Return After Taxes on Distributions and Sale of Fund Shares |
- |
|
|
Bloomberg U.S. 5-10 Year Corporate Bond Index
(reflects no deduction for fees, expenses, or taxes) |
- |
|
|
Bloomberg U.S. Aggregate Float Adjusted Index
(reflects no deduction for fees, expenses, or taxes) |
- |
|
|
| |
Sales Charge (Load) Imposed on Purchases |
|
Purchase Fee |
|
Sales Charge (Load) Imposed on Reinvested Dividends |
|
Redemption Fee |
|
| |
Management Fees |
|
12b-1 Distribution Fee |
|
Other Expenses |
|
Total Annual Fund Operating Expenses |
|
1 Year |
3 Years |
5 Years |
10 Years |
$ |
$ |
$ |
$ |
|
Total Return |
Quarter |
|
|
|
|
- |
|
|
1 Year |
5 Years |
10 Years |
Vanguard Long-Term Corporate Bond Index Fund
Institutional Shares |
|
|
|
Return Before Taxes |
- |
|
|
Return After Taxes on Distributions |
- |
|
|
Return After Taxes on Distributions and Sale of Fund Shares |
- |
|
|
Bloomberg U.S. 10+ Year Corporate Bond Index
(reflects no deduction for fees, expenses, or taxes) |
- |
|
|
Bloomberg U.S. Aggregate Float Adjusted Index
(reflects no deduction for fees, expenses, or taxes) |
- |
|
|
| |
Sales Charge (Load) Imposed on Purchases |
|
Purchase Fee |
|
Sales Charge (Load) Imposed on Reinvested Dividends |
|
Redemption Fee |
|
| |
Management Fees |
|
12b-1 Distribution Fee |
|
Other Expenses |
|
Total Annual Fund Operating Expenses |
|
1 Year |
3 Years |
5 Years |
10 Years |
$ |
$ |
$ |
$ |
|
Total Return |
Quarter |
|
|
|
|
- |
|
|
1 Year |
5 Years |
Since
Fund
Inception |
Fund
Inception
Date |
Vanguard Mortgage-Backed Securities
Index Fund Institutional Shares |
|
|
|
|
Return Before Taxes |
- |
|
|
|
Return After Taxes on Distributions |
- |
|
|
|
Return After Taxes on Distributions and Sale of
Fund Shares |
- |
|
|
|
Bloomberg U.S. MBS Float Adjusted Index
(reflects no deduction for fees, expenses,
or taxes) |
- |
|
|
|
Bloomberg U.S. Aggregate Float Adjusted
Index
(reflects no deduction for fees, expenses,
or taxes) |
- |
|
|
|
Plain Talk About Costs of Investing |
Costs are an important consideration in choosing a mutual fund. That is
because you, as a shareholder, pay a proportionate share of the costs of
operating a fund and any transaction costs incurred when the fund buys or
sells securities. These costs can erode a substantial portion of the gross
income or the capital appreciation a fund achieves. Even seemingly small
differences in expenses can, over time, have a dramatic effect on a
fund’s performance. |
Type of Bond (Maturity) |
After a 1%
Increase |
After a 1%
Decrease |
After a 2%
Increase |
After a 2%
Decrease |
Short-Term (2.5 years) |
$977 |
$1,024 |
$954 |
$1,049 |
Intermediate-Term (10 years) |
922 |
1,086 |
851 |
1,180 |
Long-Term (20 years) |
874 |
1,150 |
769 |
1,328 |
Plain Talk About Bonds and Interest Rates |
As a rule, when interest rates rise, bond prices fall. The opposite is also true:
Bond prices go up when interest rates fall. Why do bond prices and interest
rates move in opposite directions? Let’s assume that you hold a bond
offering a 4% yield. A year later, interest rates are on the rise and bonds of
comparable quality and maturity are offered with a 5% yield. With
higher-yielding bonds available, you would have trouble selling your 4% bond
for the price you paid—you would probably have to lower your asking price.
On the other hand, if interest rates were falling and 3% bonds were being
offered, you should be able to sell your 4% bond for more than you paid. |
How mortgage-backed securities are different: In general, declining interest
rates will not lift the prices of mortgage-backed securities—such as those
guaranteed by the Government National Mortgage Association—as much as
the prices of comparable bonds. Why? Because when interest rates fall, the
bond market tends to discount the prices of mortgage-backed securities for
prepayment risk—the possibility that homeowners will refinance their
mortgages at lower rates and cause the bonds to be paid off prior to
maturity. In part to compensate for this prepayment possibility,
mortgage-backed securities tend to offer higher yields than other bonds of
comparable credit quality and maturity. In contrast, when interest rates rise,
prepayments tend to slow down, subjecting mortgage-backed securities to
extension risk—the possibility that homeowners will repay their mortgages
at slower rates. This will lengthen the duration or average life of
mortgage-backed securities held by a fund and delay the fund’s ability to
reinvest proceeds at higher interest rates, making the fund more sensitive to
changes in interest rates. |
Plain Talk About Bond Maturities |
A bond is issued with a specific maturity date—the date when the issuer
must pay back the bond’s principal (face value). Bond maturities range from
less than 1 year to more than 30 years. Typically, the longer a bond’s maturity,
the more price risk you, as a bond investor, will face as interest rates
rise—but also the higher the potential yield you could receive. Longer-term
bonds are generally more suitable for investors willing to take a greater risk
of price fluctuations to get higher and more stable interest income.
Shorter-term bond investors should be willing to accept lower yields and
greater income variability in return for less fluctuation in the value of their
investment. The stated maturity of a bond may differ from the effective
maturity of a bond, which takes into consideration that an action such as a
call or refunding may cause bonds to be repaid before their stated
maturity dates. |
Plain Talk About Credit Quality |
A bond’s credit quality rating is an assessment of the issuer’s ability to pay
interest on the bond and, ultimately, to repay the principal. The lower the
credit quality, the greater the perceived chance that the bond issuer will
default, or fail to meet its payment obligations. All things being equal, the
lower a bond’s credit quality, the higher its yield should be to compensate
investors for assuming additional risk. Mortgage-backed securities typically
have higher yields than comparable-quality corporate or government bonds
to make up for their higher prepayment risk. |
Plain Talk About Types of Bonds |
Bonds are issued (sold) by many sources: Corporations issue corporate
bonds; the federal government issues U.S. Treasury bonds; agencies of the
federal government issue agency bonds; financial institutions issue
asset-backed bonds; and mortgage holders issue “mortgage-backed”
pass-through certificates. Each issuer is responsible for paying back the
bond’s initial value as well as for making periodic interest payments. Many
bonds issued by government agencies and entities are neither guaranteed
nor insured by the U.S. government. |
Vanguard Fund |
Number of
Bonds in Fund |
Number of Bonds
in Target Index |
Vanguard Short-Term Treasury Index Fund |
97 |
93 |
Vanguard Intermediate-Term Treasury
Index Fund |
111 |
111 |
Vanguard Long-Term Treasury Index Fund |
70 |
70 |
Vanguard Short-Term Corporate Bond
Index Fund |
2,367 |
2,441 |
Vanguard Intermediate-Term Corporate
Bond Index Fund |
2,114 |
2,053 |
Vanguard Long-Term Corporate Bond
Index Fund |
2,667 |
2,797 |
Vanguard Mortgage-Backed Securities
Index Fund |
1,0061 |
431 |
|
Treasury Index
Funds |
Corporate Bond
Index Funds |
Mortgage-Backed
Securities
Index Fund |
Corporate Debt Obligations |
|
• |
|
U.S. Government and Agency Bonds |
• |
• |
• |
Mortgage-Backed Securities |
|
|
• |
Mortgage Dollar Rolls |
|
|
• |
Cash Equivalent Investments,
Including Repurchase Agreements |
• |
• |
• |
Futures, Options, and Other
Derivatives |
• |
• |
• |
International Dollar-Denominated
Bonds |
|
• |
|
Plain Talk About U.S. Government-Sponsored Enterprises |
A variety of U.S. government-sponsored enterprises (GSEs), such as the
Federal Home Loan Mortgage Corporation (FHLMC), the Federal National
Mortgage Association (FNMA), and the Federal Home Loan Banks (FHLBs),
issue debt and mortgage-backed securities. Although GSEs may be chartered
or sponsored by acts of Congress, they are not funded by congressional
appropriations. In September of 2008, the U.S. Treasury placed FNMA and
FHLMC under conservatorship and appointed the Federal Housing Finance
Agency (FHFA) to manage their daily operations. In addition, the U.S. Treasury
entered into purchase agreements with FNMA and FHLMC to provide them
with capital in exchange for senior preferred stock. Generally, a GSE’s
securities are neither issued nor guaranteed by the U.S. Treasury and are not
backed by the full faith and credit of the U.S. government. In most cases,
these securities are supported only by the credit of the GSE, standing alone. In
some cases, a GSE’s securities may be supported by the ability of the GSE to
borrow from the U.S. Treasury or may be supported by the U.S. government in
some other way. Securities issued by the Government National Mortgage
Association (GNMA), however, are backed by the full faith and credit of the
U.S. government. |
Plain Talk About Derivatives |
Derivatives can take many forms. Some forms of derivatives—such as
exchange-traded futures and options on securities, commodities, or
indexes—have been trading on regulated exchanges for decades. These
types of derivatives are standardized contracts that can easily be bought and
sold and whose market values are determined and published daily. On the
other hand, non-exchange-traded derivatives—such as certain swap
agreements—tend to be more specialized or complex and may be more
difficult to accurately value. |
Plain Talk About Vanguard’s Unique Corporate Structure |
Vanguard is owned jointly by the funds it oversees and thus indirectly by the
shareholders in those funds. Most other mutual funds are operated by
management companies that are owned by third parties—either public or
private stockholders—and not by the funds they serve. |
Plain Talk About Distributions |
As a shareholder, you are entitled to your portion of a fund’s income from
interest as well as capital gains from the fund’s sale of investments. Income
consists of interest the fund earns from its money market and bond
investments. Capital gains are realized whenever the fund sells securities for
higher prices than it paid for them. These capital gains are either short-term
or long-term, depending on whether the fund held the securities for one year
or less or for more than one year. |
|
Year Ended August 31, | ||||
For a Share Outstanding Throughout Each Period |
2022 |
2021 |
2020 |
2019 |
2018 |
Net Asset Value, Beginning of Period |
$25.77 |
$26.02 |
$25.57 |
$25.06 |
$25.49 |
Investment Operations |
|
|
|
|
|
Net Investment Income1 |
.145 |
.120 |
.421 |
.598 |
.425 |
Net Realized and Unrealized Gain (Loss) on Investments |
(1.191) |
(.092) |
.445 |
.490 |
(.467) |
Total from Investment Operations |
(1.046) |
.028 |
.866 |
1.088 |
(.042) |
Distributions |
|
|
|
|
|
Dividends from Net Investment Income |
(.145) |
(.122) |
(.416) |
(.578) |
(.388) |
Distributions from Realized Capital Gains |
(.079) |
(.156) |
— |
— |
— |
Total Distributions |
(.224) |
(.278) |
(.416) |
(.578) |
(.388) |
Net Asset Value, End of Period |
$24.50 |
$25.77 |
$26.02 |
$25.57 |
$25.06 |
Total Return |
-4.08% |
0.11% |
3.42% |
4.40% |
-0.16% |
Ratios/Supplemental Data |
|
|
|
|
|
Net Assets, End of Period (Millions) |
$1,092 |
$1,138 |
$1,104 |
$974 |
$508 |
Ratio of Total Expenses to Average Net Assets |
0.05%2 |
0.05% |
0.05% |
0.05% |
0.05% |
Ratio of Net Investment Income to Average Net Assets |
0.58% |
0.47% |
1.63% |
2.37% |
1.63% |
Portfolio Turnover Rate3 |
59% |
66% |
67% |
55% |
67% |
|
|
1 |
Calculated based on average shares outstanding. |
2 |
The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements
was 0.05%. |
3 |
Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of
the fund’s capital shares, including ETF Creation Units. |
|
Year Ended August 31, | ||||
For a Share Outstanding Throughout Each Period |
2022 |
2021 |
2020 |
2019 |
2018 |
Net Asset Value, Beginning of Period |
$28.60 |
$29.51 |
$28.15 |
$26.23 |
$27.33 |
Investment Operations |
|
|
|
|
|
Net Investment Income1 |
.355 |
.337 |
.527 |
.634 |
.524 |
Net Realized and Unrealized Gain (Loss) on Investments |
(3.195) |
(.709) |
1.355 |
1.908 |
(1.114) |
Total from Investment Operations |
(2.840) |
(.372) |
1.882 |
2.542 |
(.590) |
Distributions |
|
|
|
|
|
Dividends from Net Investment Income |
(.346) |
(.334) |
(.522) |
(.622) |
(.510) |
Distributions from Realized Capital Gains |
(.154) |
(.204) |
— |
— |
— |
Total Distributions |
(.500) |
(.538) |
(.522) |
(.622) |
(.510) |
Net Asset Value, End of Period |
$25.26 |
$28.60 |
$29.51 |
$28.15 |
$26.23 |
Total Return |
-10.03% |
-1.26% |
6.76% |
9.83% |
-2.16% |
Ratios/Supplemental Data |
|
|
|
|
|
Net Assets, End of Period (Millions) |
$1,700 |
$1,725 |
$1,558 |
$1,183 |
$390 |
Ratio of Total Expenses to Average Net Assets |
0.05%2 |
0.05% |
0.05% |
0.05% |
0.05% |
Ratio of Net Investment Income to Average Net Assets |
1.32% |
1.17% |
1.83% |
2.36% |
1.99% |
Portfolio Turnover Rate3 |
36% |
33% |
28% |
29% |
31% |
|
|
1 |
Calculated based on average shares outstanding. |
2 |
The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements
was 0.05%. |
3 |
Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of
the fund’s capital shares, including ETF Creation Units. |
|
Year Ended August 31, | ||||
For a Share Outstanding Throughout Each Period |
2022 |
2021 |
2020 |
2019 |
2018 |
Net Asset Value, Beginning of Period |
$38.52 |
$42.19 |
$38.43 |
$31.66 |
$33.56 |
Investment Operations |
|
|
|
|
|
Net Investment Income1 |
.727 |
.699 |
.822 |
.902 |
.883 |
Net Realized and Unrealized Gain (Loss) on Investments |
(9.376) |
(3.554) |
3.748 |
6.753 |
(1.915) |
Total from Investment Operations |
(8.649) |
(2.855) |
4.570 |
7.655 |
(1.032) |
Distributions |
|
|
|
|
|
Dividends from Net Investment Income |
(.711) |
(.691) |
(.810) |
(.885) |
(.868) |
Distributions from Realized Capital Gains |
— |
(.124) |
— |
— |
— |
Total Distributions |
(.711) |
(.815) |
(.810) |
(.885) |
(.868) |
Net Asset Value, End of Period |
$29.16 |
$38.52 |
$42.19 |
$38.43 |
$31.66 |
Total Return |
-22.69% |
-6.77% |
12.03% |
24.71% |
-3.07% |
Ratios/Supplemental Data |
|
|
|
|
|
Net Assets, End of Period (Millions) |
$2,586 |
$2,038 |
$1,234 |
$1,054 |
$452 |
Ratio of Total Expenses to Average Net Assets |
0.05%2 |
0.05% |
0.05% |
0.05% |
0.05% |
Ratio of Net Investment Income to Average Net Assets |
2.15% |
1.82% |
2.06% |
2.75% |
2.75% |
Portfolio Turnover Rate3 |
19% |
22% |
29% |
16% |
19% |
|
|
1 |
Calculated based on average shares outstanding. |
2 |
The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements
was 0.05%. |
3 |
Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of
the fund’s capital shares, including ETF Creation Units. |
|
Year Ended August 31, | ||||
For a Share Outstanding Throughout Each Period |
2022 |
2021 |
2020 |
2019 |
2018 |
Net Asset Value, Beginning of Period |
$27.53 |
$27.61 |
$27.00 |
$26.06 |
$26.70 |
Investment Operations |
|
|
|
|
|
Net Investment Income1 |
.436 |
.473 |
.713 |
.768 |
.656 |
Net Realized and Unrealized Gain (Loss) on Investments |
(2.131) |
(.080) |
.604 |
.939 |
(.641) |
Total from Investment Operations |
(1.695) |
.393 |
1.317 |
1.707 |
.015 |
Distributions |
|
|
|
|
|
Dividends from Net Investment Income |
(.434) |
(.473) |
(.707) |
(.767) |
(.655) |
Distributions from Realized Capital Gains |
(.061) |
— |
— |
— |
— |
Total Distributions |
(.495) |
(.473) |
(.707) |
(.767) |
(.655) |
Net Asset Value, End of Period |
$25.34 |
$27.53 |
$27.61 |
$27.00 |
$26.06 |
Total Return |
-6.21% |
1.44% |
4.96% |
6.66% |
0.07% |
Ratios/Supplemental Data |
|
|
|
|
|
Net Assets, End of Period (Millions) |
$2,239 |
$2,258 |
$1,661 |
$1,633 |
$1,706 |
Ratio of Total Expenses to Average Net Assets |
0.05%2 |
0.05% |
0.05% |
0.05% |
0.05% |
Ratio of Net Investment Income to Average Net Assets |
1.65% |
1.72% |
2.63% |
2.92% |
2.50% |
Portfolio Turnover Rate3 |
50% |
42% |
56% |
51% |
56% |
|
|
1 |
Calculated based on average shares outstanding. |
2 |
The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements
was 0.05%. |
3 |
Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of
the fund’s capital shares, including ETF Creation Units. |
|
Year Ended August 31, | ||||
For a Share Outstanding Throughout Each Period |
2022 |
2021 |
2020 |
2019 |
2018 |
Net Asset Value, Beginning of Period |
$31.82 |
$31.95 |
$30.53 |
$27.94 |
$29.38 |
Investment Operations |
|
|
|
|
|
Net Investment Income1 |
.720 |
.720 |
.940 |
1.044 |
.983 |
Net Realized and Unrealized Gain (Loss) on Investments |
(5.061) |
(.070) |
1.394 |
2.584 |
(1.446) |
Total from Investment Operations |
(4.341) |
.650 |
2.334 |
3.628 |
(.463) |
Distributions |
|
|
|
|
|
Dividends from Net Investment Income |
(.721) |
(.714) |
(.914) |
(1.038) |
(.977) |
Distributions from Realized Capital Gains |
(.198) |
(.066) |
— |
— |
— |
Total Distributions |
(.919) |
(.780) |
(.914) |
(1.038) |
(.977) |
Net Asset Value, End of Period |
$26.56 |
$31.82 |
$31.95 |
$30.53 |
$27.94 |
Total Return2 |
-13.87% |
2.07% |
7.81% |
13.30% |
-1.57% |
Ratios/Supplemental Data |
|
|
|
|
|
Net Assets, End of Period (Millions) |
$338 |
$443 |
$357 |
$406 |
$492 |
Ratio of Total Expenses to Average Net Assets |
0.05%3 |
0.05% |
0.05% |
0.05% |
0.05% |
Ratio of Net Investment Income to Average Net Assets |
2.46% |
2.27% |
3.07% |
3.65% |
3.46% |
Portfolio Turnover Rate4 |
58% |
53% |
72% |
59% |
65% |
|
|
1 |
Calculated based on average shares outstanding. |
2 |
Total returns do not include transaction fees that may have applied in the periods shown. Fund prospectuses
provide information about any applicable transaction fees. |
3 |
The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements
was 0.05%. |
4 |
Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of
the fund’s capital shares, including ETF Creation Units. |
|
Year Ended August 31, | ||||
For a Share Outstanding Throughout Each Period |
2022 |
2021 |
2020 |
2019 |
2018 |
Net Asset Value, Beginning of Period |
$36.02 |
$35.59 |
$34.18 |
$29.36 |
$31.25 |
Investment Operations |
|
|
|
|
|
Net Investment Income1 |
1.092 |
1.095 |
1.250 |
1.314 |
1.299 |
Net Realized and Unrealized Gain (Loss) on Investments2 |
(9.264) |
.425 |
1.387 |
4.812 |
(1.895) |
Total from Investment Operations |
(8.172) |
1.520 |
2.637 |
6.126 |
(.596) |
Distributions |
|
|
|
|
|
Dividends from Net Investment Income |
(1.088) |
(1.090) |
(1.227) |
(1.306) |
(1.294) |
Distributions from Realized Capital Gains |
— |
— |
— |
— |
— |
Total Distributions |
(1.088) |
(1.090) |
(1.227) |
(1.306) |
(1.294) |
Net Asset Value, End of Period |
$26.76 |
$36.02 |
$35.59 |
$34.18 |
$29.36 |
Total Return3 |
-23.05% |
4.37% |
7.91% |
21.58% |
-1.95% |
Ratios/Supplemental Data |
|
|
|
|
|
Net Assets, End of Period (Millions) |
$264 |
$340 |
$268 |
$541 |
$786 |
Ratio of Total Expenses to Average Net Assets |
0.05%4 |
0.05% |
0.05% |
0.05% |
0.05% |
Ratio of Net Investment Income to Average Net Assets |
3.46% |
3.09% |
3.68% |
4.36% |
4.28% |
Portfolio Turnover Rate5 |
31% |
36% |
62% |
47% |
48% |
|
|
1 |
Calculated based on average shares outstanding. |
2 |
Includes increases from purchase fees of $.00, $.01, $.00, $.00, and $.03. |
3 |
Total returns do not include transaction or account service fees that may have applied in the periods shown. Fund
prospectuses provide information about any applicable transaction and account service fees. |
4 |
The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements
was 0.05%. |
5 |
Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of
the fund’s capital shares, including ETF Creation Units. |
|
Year Ended August 31, | ||||
For a Share Outstanding Throughout Each Period |
2022 |
2021 |
2020 |
2019 |
2018 |
Net Asset Value, Beginning of Period |
$28.96 |
$29.44 |
$28.81 |
$27.79 |
$28.69 |
Investment Operations |
|
|
|
|
|
Net Investment Income1 |
.467 |
.393 |
.641 |
.846 |
.721 |
Net Realized and Unrealized Gain (Loss) on Investments |
(3.258) |
(.503) |
.636 |
1.011 |
(.920) |
Total from Investment Operations |
(2.791) |
(.110) |
1.277 |
1.857 |
(.199) |
Distributions |
|
|
|
|
|
Dividends from Net Investment Income |
(.449) |
(.311) |
(.647) |
(.837) |
(.701) |
Distributions from Realized Capital Gains |
— |
(.059) |
— |
— |
— |
Total Distributions |
(.449) |
(.370) |
(.647) |
(.837) |
(.701) |
Net Asset Value, End of Period |
$25.72 |
$28.96 |
$29.44 |
$28.81 |
$27.79 |
Total Return |
-9.70% |
-0.38% |
4.48% |
6.80% |
-0.68% |
Ratios/Supplemental Data |
|
|
|
|
|
Net Assets, End of Period (Millions) |
$179 |
$122 |
$171 |
$119 |
$70 |
Ratio of Total Expenses to Average Net Assets |
0.05%2 |
0.05% |
0.05% |
0.05% |
0.05% |
Ratio of Net Investment Income to Average Net Assets |
1.71% |
1.35% |
2.20% |
3.01% |
2.58% |
Portfolio Turnover Rate3 |
170% |
316% |
218% |
190% |
279% |
|
|
1 |
Calculated based on average shares outstanding. |
2 |
The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements
was 0.05%. |
3 |
Includes 113%, 237%, 11%, 34%, and 78%, respectively, attributable to mortgage-dollar-roll activity. |
Web |
|
Vanguard.com |
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Phone | |
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broker-dealers, trust institutions, and insurance
companies |
Vanguard Fund |
Inception
Date |
Newspaper
Abbreviation |
Vanguard
Fund Number |
CUSIP
Number |
Vanguard Short-Term Treasury Index Fund | ||||
Institutional Shares |
8/23/2010 |
STGovIxInst |
1642 |
92206C201 |
Vanguard Intermediate-Term Treasury Index Fund | ||||
Institutional Shares |
3/19/2010 |
ITGovIxInst |
1643 |
92206C805 |
Vanguard Long-Term Treasury Index Fund | ||||
Institutional Shares |
7/30/2010 |
LTGovIxInst |
1644 |
92206C839 |
Vanguard Short-Term Corporate Bond Index Fund | ||||
Institutional Shares |
11/19/2009 |
STCorpIxInst |
1645 |
92206C508 |
Vanguard Intermediate-Term Corporate Bond Index Fund | ||||
Institutional Shares |
11/19/2009 |
ITCorpIxInst |
1646 |
92206C862 |
Vanguard Long-Term Corporate Bond Index Fund | ||||
Institutional Shares |
11/19/2009 |
LTCorpIxInst |
1647 |
92206C797 |
Vanguard Mortgage-Backed Securities Index Fund | ||||
Institutional Shares |
10/31/2013 |
MrgBkdIxInst |
1648 |
92206C763 |
| |
Transaction Fee on Purchases and Sales |
|
Transaction Fee on Reinvested Dividends |
|
Transaction Fee on Conversion to ETF Shares |
|
| |
Management Fees |
|
12b-1 Distribution Fee |
|
Other Expenses |
|
Total Annual Fund Operating Expenses |
|
1 Year |
3 Years |
5 Years |
10 Years |
$ |
$ |
$ |
$ |
|
Total Return |
Quarter |
|
|
|
|
- |
|
|
1 Year |
5 Years |
10 Years |
Vanguard Short-Term Treasury Index Fund ETF Shares |
|
|
|
Based on NAV |
|
|
|
Return Before Taxes |
- |
|
|
Return After Taxes on Distributions |
- |
|
|
Return After Taxes on Distributions and Sale of Fund Shares |
- |
|
|
Based on Market Price |
|
|
|
Return Before Taxes |
- |
|
|
Bloomberg U.S. Treasury 1-3 Year Index
(reflects no deduction for fees, expenses, or taxes) |
- |
|
|
Spliced Bloomberg U.S. Treasury 1-3 Year Index in USD
(reflects no deduction for fees, expenses, or taxes) |
- |
|
|
Bloomberg U.S. Aggregate Float Adjusted Index
(reflects no deduction for fees, expenses, or taxes) |
- |
|
|
| |
Transaction Fee on Purchases and Sales |
|
Transaction Fee on Reinvested Dividends |
|
Transaction Fee on Conversion to ETF Shares |
|
| |
Management Fees |
|
12b-1 Distribution Fee |
|
Other Expenses |
|
Total Annual Fund Operating Expenses |
|
1 Year |
3 Years |
5 Years |
10 Years |
$ |
$ |
$ |
$ |
|
Total Return |
Quarter |
|
|
|
|
- |
|
|
1 Year |
5 Years |
10 Years |
Vanguard Intermediate-Term Treasury Index Fund
ETF Shares |
|
|
|
Based on NAV |
|
|
|
Return Before Taxes |
- |
|
|
Return After Taxes on Distributions |
- |
|
|
Return After Taxes on Distributions and Sale of Fund Shares |
- |
|
|
Based on Market Price |
|
|
|
Return Before Taxes |
- |
|
|
Bloomberg U.S. Treasury 3-10 Year Index
(reflects no deduction for fees, expenses, or taxes) |
- |
|
|
Spliced Bloomberg U.S. Treasury 3-10 Year Index in USD
(reflects no deduction for fees, expenses, or taxes) |
- |
|
|
Bloomberg U.S. Aggregate Float Adjusted Index
(reflects no deduction for fees, expenses, or taxes) |
- |
|
|
| |
Transaction Fee on Purchases and Sales |
|
Transaction Fee on Reinvested Dividends |
|
Transaction Fee on Conversion to ETF Shares |
|
| |
Management Fees |
|
12b-1 Distribution Fee |
|
Other Expenses |
|
Total Annual Fund Operating Expenses |
|
1 Year |
3 Years |
5 Years |
10 Years |
$ |
$ |
$ |
$ |
|
Total Return |
Quarter |
|
|
|
|
- |
|
|
1 Year |
5 Years |
10 Years |
Vanguard Long-Term Treasury Index Fund ETF Shares |
|
|
|
Based on NAV |
|
|
|
Return Before Taxes |
- |
|
|
Return After Taxes on Distributions |
- |
|
|
Return After Taxes on Distributions and Sale of Fund Shares |
- |
|
|
Based on Market Price |
|
|
|
Return Before Taxes |
- |
|
|
Bloomberg U.S. Long Treasury Bond Index
(reflects no deduction for fees, expenses, or taxes) |
- |
|
|
Spliced Bloomberg U.S. Long Treasury Index in USD
(reflects no deduction for fees, expenses, or taxes) |
- |
|
|
Bloomberg U.S. Aggregate Float Adjusted Index
(reflects no deduction for fees, expenses, or taxes) |
- |
|
|
| |
Transaction Fee on Purchases and Sales |
|
Transaction Fee on Reinvested Dividends |
|
Transaction Fee on Conversion to ETF Shares |
|
| |
Management Fees |
|
12b-1 Distribution Fee |
|
Other Expenses |
|
Total Annual Fund Operating Expenses |
|
1 Year |
3 Years |
5 Years |
10 Years |
$ |
$ |
$ |
$ |
|
Total Return |
Quarter |
|
|
|
|
- |
|
|
1 Year |
5 Years |
10 Years |
Vanguard Short-Term Corporate Bond Index Fund
ETF Shares |
|
|
|
Based on NAV |
|
|
|
Return Before Taxes |
- |
|
|
Return After Taxes on Distributions |
- |
|
|
Return After Taxes on Distributions and Sale of Fund Shares |
- |
|
|
Based on Market Price |
|
|
|
Return Before Taxes |
- |
|
|
Bloomberg U.S. 1-5 Year Corporate Bond Index
(reflects no deduction for fees, expenses, or taxes) |
- |
|
|
Bloomberg U.S. Aggregate Float Adjusted Index
(reflects no deduction for fees, expenses, or taxes) |
- |
|
|
| |
Transaction Fee on Purchases and Sales |
|
Transaction Fee on Reinvested Dividends |
|
Transaction Fee on Conversion to ETF Shares |
|
| |
Management Fees |
|
12b-1 Distribution Fee |
|
Other Expenses |
|
Total Annual Fund Operating Expenses |
|
1 Year |
3 Years |
5 Years |
10 Years |
$ |
$ |
$ |
$ |
|
Total Return |
Quarter |
|
|
|
|
- |
|
|
1 Year |
5 Years |
10 Years |
Vanguard Intermediate-Term Corporate Bond Index Fund
ETF Shares |
|
|
|
Based on NAV |
|
|
|
Return Before Taxes |
- |
|
|
Return After Taxes on Distributions |
- |
|
|
Return After Taxes on Distributions and Sale of Fund Shares |
- |
|
|
Based on Market Price |
|
|
|
Return Before Taxes |
- |
|
|
Bloomberg U.S. 5-10 Year Corporate Bond Index
(reflects no deduction for fees, expenses, or taxes) |
- |
|
|
Bloomberg U.S. Aggregate Float Adjusted Index
(reflects no deduction for fees, expenses, or taxes) |
- |
|
|
| |
Transaction Fee on Purchases and Sales |
|
Transaction Fee on Reinvested Dividends |
|
Transaction Fee on Conversion to ETF Shares |
|
| |
Management Fees |
|
12b-1 Distribution Fee |
|
Other Expenses |
|
Total Annual Fund Operating Expenses |
|
1 Year |
3 Years |
5 Years |
10 Years |
$ |
$ |
$ |
$ |
|
Total Return |
Quarter |
|
|
|
|
- |
|
|
1 Year |
5 Years |
10 Years |
Vanguard Long-Term Corporate Bond Index Fund
ETF Shares |
|
|
|
Based on NAV |
|
|
|
Return Before Taxes |
- |
|
|
Return After Taxes on Distributions |
- |
|
|
Return After Taxes on Distributions and Sale of Fund Shares |
- |
|
|
Based on Market Price |
|
|
|
Return Before Taxes |
- |
|
|
Bloomberg U.S. 10+ Year Corporate Bond Index
(reflects no deduction for fees, expenses, or taxes) |
- |
|
|
Bloomberg U.S. Aggregate Float Adjusted Index
(reflects no deduction for fees, expenses, or taxes) |
- |
|
|
| |
Transaction Fee on Purchases and Sales |
|
Transaction Fee on Reinvested Dividends |
|
Transaction Fee on Conversion to ETF Shares |
|
| |
Management Fees |
|
12b-1 Distribution Fee |
|
Other Expenses |
|
Total Annual Fund Operating Expenses |
|
1 Year |
3 Years |
5 Years |
10 Years |
$ |
$ |
$ |
$ |
|
Total Return |
Quarter |
|
|
|
|
- |
|
|
1 Year |
5 Years |
10 Years |
Vanguard Mortgage-Backed Securities Index Fund
ETF Shares |
|
|
|
Based on NAV |
|
|
|
Return Before Taxes |
- |
|
|
Return After Taxes on Distributions |
- |
|
|
Return After Taxes on Distributions and Sale of Fund Shares |
- |
|
|
Based on Market Price |
|
|
|
Return Before Taxes |
- |
|
|
Bloomberg U.S. MBS Float Adjusted Index
(reflects no deduction for fees, expenses, or taxes) |
- |
|
|
Bloomberg U.S. Aggregate Float Adjusted Index
(reflects no deduction for fees, expenses, or taxes) |
- |
|
|
Vanguard Fund |
Vanguard ETF Shares |
Short-Term Treasury Index Fund |
Short-Term Treasury ETF |
Intermediate-Term Treasury Index Fund |
Intermediate-Term Treasury ETF |
Long-Term Treasury Index Fund |
Long-Term Treasury ETF |
Short-Term Corporate Bond Index Fund |
Short-Term Corporate Bond ETF |
Intermediate-Term Corporate Bond Index
Fund |
Intermediate-Term Corporate Bond ETF |
Long-Term Corporate Bond Index Fund |
Long-Term Corporate Bond ETF |
Mortgage-Backed Securities Index Fund |
Mortgage-Backed Securities ETF |
Plain Talk About Costs of Investing |
Costs are an important consideration in choosing an ETF. That is because
you, as a shareholder, pay a proportionate share of the costs of operating a
fund and any transaction costs incurred when the fund buys or sells
securities. These costs can erode a substantial portion of the gross income
or the capital appreciation a fund achieves. Even seemingly small differences
in expenses can, over time, have a dramatic effect on a fund’s performance. |
Type of Bond (Maturity) |
After a 1%
Increase |
After a 1%
Decrease |
After a 2%
Increase |
After a 2%
Decrease |
Short-Term (2.5 years) |
$977 |
$1,024 |
$954 |
$1,049 |
Intermediate-Term (10 years) |
922 |
1,086 |
851 |
1,180 |
Long-Term (20 years) |
874 |
1,150 |
769 |
1,328 |
Plain Talk About Bonds and Interest Rates |
As a rule, when interest rates rise, bond prices fall. The opposite is also true:
Bond prices go up when interest rates fall. Why do bond prices and interest
rates move in opposite directions? Let’s assume that you hold a bond
offering a 4% yield. A year later, interest rates are on the rise and bonds of
comparable quality and maturity are offered with a 5% yield. With
higher-yielding bonds available, you would have trouble selling your 4% bond
for the price you paid—you would probably have to lower your asking price.
On the other hand, if interest rates were falling and 3% bonds were being
offered, you should be able to sell your 4% bond for more than you paid. |
How mortgage-backed securities are different: In general, declining interest
rates will not lift the prices of mortgage-backed securities—such as those
guaranteed by the Government National Mortgage Association—as much as
the prices of comparable bonds. Why? Because when interest rates fall, the
bond market tends to discount the prices of mortgage-backed securities for
prepayment risk—the possibility that homeowners will refinance their
mortgages at lower rates and cause the bonds to be paid off prior to
maturity. In part to compensate for this prepayment possibility,
mortgage-backed securities tend to offer higher yields than other bonds of
comparable credit quality and maturity. In contrast, when interest rates rise,
prepayments tend to slow down, subjecting mortgage-backed securities to
extension risk—the possibility that homeowners will repay their mortgages
at slower rates. This will lengthen the duration or average life of
mortgage-backed securities held by a fund and delay the fund’s ability to
reinvest proceeds at higher interest rates, making the fund more sensitive to
changes in interest rates. |
Plain Talk About Bond Maturities |
A bond is issued with a specific maturity date—the date when the issuer
must pay back the bond’s principal (face value). Bond maturities range from
less than 1 year to more than 30 years. Typically, the longer a bond’s maturity,
the more price risk you, as a bond investor, will face as interest rates
rise—but also the higher the potential yield you could receive. Longer-term
bonds are generally more suitable for investors willing to take a greater risk
of price fluctuations to get higher and more stable interest income.
Shorter-term bond investors should be willing to accept lower yields and
greater income variability in return for less fluctuation in the value of their
investment. The stated maturity of a bond may differ from the effective
maturity of a bond, which takes into consideration that an action such as a
call or refunding may cause bonds to be repaid before their stated
maturity dates. |
Plain Talk About Credit Quality |
A bond’s credit quality rating is an assessment of the issuer’s ability to pay
interest on the bond and, ultimately, to repay the principal. The lower the
credit quality, the greater the perceived chance that the bond issuer will
default, or fail to meet its payment obligations. All things being equal, the
lower a bond’s credit quality, the higher its yield should be to compensate
investors for assuming additional risk. Mortgage-backed securities typically
have higher yields than comparable-quality corporate or government bonds
to make up for their higher prepayment risk. |
Plain Talk About Types of Bonds |
Bonds are issued (sold) by many sources: Corporations issue corporate
bonds; the federal government issues U.S. Treasury bonds; agencies of the
federal government issue agency bonds; financial institutions issue
asset-backed bonds; and mortgage holders issue “mortgage-backed”
pass-through certificates. Each issuer is responsible for paying back the
bond’s initial value as well as for making periodic interest payments. Many
bonds issued by government agencies and entities are neither guaranteed
nor insured by the U.S. government. |
Vanguard Fund |
Number of
Bonds in Fund |
Number of Bonds
in Target Index |
Vanguard Short-Term Treasury Index Fund |
97 |
93 |
Vanguard Intermediate-Term Treasury
Index Fund |
111 |
111 |
Vanguard Long-Term Treasury Index Fund |
70 |
70 |
Vanguard Short-Term Corporate Bond
Index Fund |
2,367 |
2,441 |
Vanguard Intermediate-Term Corporate
Bond Index Fund |
2,114 |
2,053 |
Vanguard Long-Term Corporate Bond
Index Fund |
2,667 |
2,797 |
Vanguard Mortgage-Backed Securities
Index Fund |
1,0061 |
431 |
|
Treasury Index
Funds |
Corporate Bond
Index Funds |
Mortgage-Backed
Securities
Index Fund |
Corporate Debt Obligations |
|
• |
|
U.S. Government and Agency Bonds |
• |
• |
• |
Mortgage-Backed Securities |
|
|
• |
Mortgage Dollar Rolls |
|
|
• |
Cash Equivalent Investments,
Including Repurchase Agreements |
• |
• |
• |
Futures, Options, and Other
Derivatives |
• |
• |
• |
International Dollar-Denominated
Bonds |
|
• |
|
Plain Talk About U.S. Government-Sponsored Enterprises |
A variety of U.S. government-sponsored enterprises (GSEs), such as the
Federal Home Loan Mortgage Corporation (FHLMC), the Federal National
Mortgage Association (FNMA), and the Federal Home Loan Banks (FHLBs),
issue debt and mortgage-backed securities. Although GSEs may be chartered
or sponsored by acts of Congress, they are not funded by congressional
appropriations. In September of 2008, the U.S. Treasury placed FNMA and
FHLMC under conservatorship and appointed the Federal Housing Finance
Agency (FHFA) to manage their daily operations. In addition, the U.S. Treasury
entered into purchase agreements with FNMA and FHLMC to provide them
with capital in exchange for senior preferred stock. Generally, a GSE’s
securities are neither issued nor guaranteed by the U.S. Treasury and are not
backed by the full faith and credit of the U.S. government. In most cases,
these securities are supported only by the credit of the GSE, standing alone. In
some cases, a GSE’s securities may be supported by the ability of the GSE to
borrow from the U.S. Treasury or may be supported by the U.S. government in
some other way. Securities issued by the Government National Mortgage
Association (GNMA), however, are backed by the full faith and credit of the
U.S. government. |
Plain Talk About Derivatives |
Derivatives can take many forms. Some forms of derivatives—such as
exchange-traded futures and options on securities, commodities, or
indexes—have been trading on regulated exchanges for decades. These
types of derivatives are standardized contracts that can easily be bought and
sold and whose market values are determined and published daily. On the
other hand, non-exchange-traded derivatives—such as certain swap
agreements—tend to be more specialized or complex and may be more
difficult to accurately value. |
Plain Talk About Vanguard’s Unique Corporate Structure |
Vanguard is owned jointly by the funds it oversees and thus indirectly by the
shareholders in those funds. Most other mutual funds are operated by
management companies that are owned by third parties—either public or
private stockholders—and not by the funds they serve. |
Plain Talk About Distributions |
As a shareholder, you are entitled to your portion of a fund’s income from
interest as well as capital gains from the fund’s sale of investments. Income
consists of interest the fund earns from its money market and bond
investments. Capital gains are realized whenever the fund sells securities for
higher prices than it paid for them. These capital gains are either short-term
or long-term, depending on whether the fund held the securities for one year
or less or for more than one year. |
Vanguard Fund |
Inception Date |
Vanguard
Fund
Number |
CUSIP
Number |
Vanguard Short-Term Treasury Index Fund |
|
|
|
ETF Shares |
11/19/2009 |
3142 |
92206C102 |
Vanguard Intermediate-Term Treasury Index
Fund |
|
|
|
ETF Shares |
11/19/2009 |
3143 |
92206C706 |
Vanguard Long-Term Treasury Index Fund |
|
|
|
ETF Shares |
11/19/2009 |
3144 |
92206C847 |
Vanguard Short-Term Corporate Bond Index
Fund |
|
|
|
ETF Shares |
11/19/2009 |
3145 |
92206C409 |
Vanguard Intermediate-Term Corporate Bond
Index Fund |
|
|
|
ETF Shares |
11/19/2009 |
3146 |
92206C870 |
Vanguard Long-Term Corporate Bond Index
Fund |
|
|
|
ETF Shares |
11/19/2009 |
3147 |
92206C813 |
Vanguard Mortgage-Backed Securities Index
Fund |
|
|
|
ETF Shares |
11/19/2009 |
3148 |
92206C771 |
|
Year Ended August 31, | ||||
For a Share Outstanding Throughout Each Period |
2022 |
2021 |
2020 |
2019 |
2018 |
Net Asset Value, Beginning of Period |
$61.50 |
$62.13 |
$61.12 |
$59.89 |
$60.86 |
Investment Operations |
|
|
|
|
|
Net Investment Income1 |
.368 |
.288 |
.956 |
1.430 |
.965 |
Net Realized and Unrealized Gain (Loss) on Investments |
(2.860) |
(.220) |
1.115 |
1.165 |
(1.062) |
Total from Investment Operations |
(2.492) |
.068 |
2.071 |
2.595 |
(.097) |
Distributions |
|
|
|
|
|
Dividends from Net Investment Income |
(.310) |
(.325) |
(1.061) |
(1.365) |
(.873) |
Distributions from Realized Capital Gains |
(.188) |
(.373) |
— |
— |
— |
Total Distributions |
(.498) |
(.698) |
(1.061) |
(1.365) |
(.873) |
Net Asset Value, End of Period |
$58.51 |
$61.50 |
$62.13 |
$61.12 |
$59.89 |
Total Return |
-4.07% |
0.11% |
3.43% |
4.39% |
-0.15% |
Ratios/Supplemental Data |
|
|
|
|
|
Net Assets, End of Period (Millions) |
$15,565 |
$13,394 |
$9,140 |
$5,334 |
$3,080 |
Ratio of Total Expenses to Average Net Assets |
0.04%2 |
0.04% |
0.05% |
0.05% |
0.07% |
Ratio of Net Investment Income to Average Net Assets |
0.61% |
0.47% |
1.55% |
2.37% |
1.61% |
Portfolio Turnover Rate3 |
59% |
66% |
67% |
55% |
67% |
|
|
1 |
Calculated based on average shares outstanding. |
2 |
The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements
was 0.04%. |
3 |
Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of
the fund’s capital shares, including ETF Creation Units. |
|
Year Ended August 31, | ||||
For a Share Outstanding Throughout Each Period |
2022 |
2021 |
2020 |
2019 |
2018 |
Net Asset Value, Beginning of Period |
$68.27 |
$70.46 |
$67.26 |
$62.67 |
$65.29 |
Investment Operations |
|
|
|
|
|
Net Investment Income1 |
.858 |
.809 |
1.239 |
1.515 |
1.250 |
Net Realized and Unrealized Gain (Loss) on Investments |
(7.617) |
(1.692) |
3.248 |
4.552 |
(2.691) |
Total from Investment Operations |
(6.759) |
(.883) |
4.487 |
6.067 |
(1.441) |
Distributions |
|
|
|
|
|
Dividends from Net Investment Income |
(.805) |
(.820) |
(1.287) |
(1.477) |
(1.179) |
Distributions from Realized Capital Gains |
(.366) |
(.487) |
— |
— |
— |
Total Distributions |
(1.171) |
(1.307) |
(1.287) |
(1.477) |
(1.179) |
Net Asset Value, End of Period |
$60.34 |
$68.27 |
$70.46 |
$67.26 |
$62.67 |
Total Return |
-10.01% |
-1.26% |
6.76% |
9.84% |
-2.21% |
Ratios/Supplemental Data |
|
|
|
|
|
Net Assets, End of Period (Millions) |
$11,726 |
$8,147 |
$6,547 |
$4,353 |
$2,680 |
Ratio of Total Expenses to Average Net Assets |
0.04%2 |
0.04% |
0.05% |
0.05% |
0.07% |
Ratio of Net Investment Income to Average Net Assets |
1.34% |
1.18% |
1.80% |
2.36% |
1.97% |
Portfolio Turnover Rate3 |
36% |
33% |
28% |
29% |
31% |
|
|
1 |
Calculated based on average shares outstanding. |
2 |
The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements
was 0.04%. |
3 |
Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of
the fund’s capital shares, including ETF Creation Units. |
|
Year Ended August 31, | ||||
For a Share Outstanding Throughout Each Period |
2022 |
2021 |
2020 |
2019 |
2018 |
Net Asset Value, Beginning of Period |
$90.37 |
$98.93 |
$90.17 |
$74.33 |
$78.76 |
Investment Operations |
|
|
|
|
|
Net Investment Income1 |
1.718 |
1.645 |
1.915 |
2.115 |
2.050 |
Net Realized and Unrealized Gain (Loss) on Investments |
(21.974) |
(8.289) |
8.772 |
15.798 |
(4.469) |
Total from Investment Operations |
(20.256) |
(6.644) |
10.687 |
17.913 |
(2.419) |
Distributions |
|
|
|
|
|
Dividends from Net Investment Income |
(1.664) |
(1.625) |
(1.927) |
(2.073) |
(2.011) |
Distributions from Realized Capital Gains |
— |
(.291) |
— |
— |
— |
Total Distributions |
(1.664) |
(1.916) |
(1.927) |
(2.073) |
(2.011) |
Net Asset Value, End of Period |
$68.45 |
$90.37 |
$98.93 |
$90.17 |
$74.33 |
Total Return |
-22.69% |
-6.73% |
12.02% |
24.69% |
-3.07% |
Ratios/Supplemental Data |
|
|
|
|
|
Net Assets, End of Period (Millions) |
$3,813 |
$2,366 |
$2,138 |
$1,282 |
$676 |
Ratio of Total Expenses to Average Net Assets |
0.04%2 |
0.04% |
0.05% |
0.05% |
0.07% |
Ratio of Net Investment Income to Average Net Assets |
2.19% |
1.81% |
2.03% |
2.75% |
2.73% |
Portfolio Turnover Rate3 |
19% |
22% |
29% |
16% |
19% |
|
|
1 |
Calculated based on average shares outstanding. |
2 |
The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements
was 0.04%. |
3 |
Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of
the fund’s capital shares, including ETF Creation Units. |
|
Year Ended August 31, | ||||
For a Share Outstanding Throughout Each Period |
2022 |
2021 |
2020 |
2019 |
2018 |
Net Asset Value, Beginning of Period |
$82.67 |
$82.95 |
$81.18 |
$78.32 |
$80.25 |
Investment Operations |
|
|
|
|
|
Net Investment Income1 |
1.319 |
1.433 |
2.127 |
2.311 |
1.950 |
Net Realized and Unrealized Gain (Loss) on Investments |
(6.388) |
(.250) |
1.815 |
2.826 |
(1.953) |
Total from Investment Operations |
(5.069) |
1.183 |
3.942 |
5.137 |
(.003) |
Distributions |
|
|
|
|
|
Dividends from Net Investment Income |
(1.279) |
(1.463) |
(2.172) |
(2.277) |
(1.927) |
Distributions from Realized Capital Gains |
(.182) |
— |
— |
— |
— |
Total Distributions |
(1.461) |
(1.463) |
(2.172) |
(2.277) |
(1.927) |
Net Asset Value, End of Period |
$76.14 |
$82.67 |
$82.95 |
$81.18 |
$78.32 |
Total Return |
-6.19% |
1.44% |
4.95% |
6.68% |
0.01% |
Ratios/Supplemental Data |
|
|
|
|
|
Net Assets, End of Period (Millions) |
$43,723 |
$41,569 |
$31,797 |
$24,537 |
$21,511 |
Ratio of Total Expenses to Average Net Assets |
0.04%2 |
0.04% |
0.05% |
0.05% |
0.07% |
Ratio of Net Investment Income to Average Net Assets |
1.67% |
1.73% |
2.62% |
2.92% |
2.48% |
Portfolio Turnover Rate3 |
50% |
42% |
56% |
51% |
56% |
|
|
1 |
Calculated based on average shares outstanding. |
2 |
The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements
was 0.04%. |
3 |
Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of
the fund’s capital shares, including ETF Creation Units. |
|
Year Ended August 31, | ||||
For a Share Outstanding Throughout Each Period |
2022 |
2021 |
2020 |
2019 |
2018 |
Net Asset Value, Beginning of Period |
$95.57 |
$95.98 |
$91.82 |
$84.02 |
$88.35 |
Investment Operations |
|
|
|
|
|
Net Investment Income1 |
2.171 |
2.163 |
2.761 |
3.132 |
2.935 |
Net Realized and Unrealized Gain (Loss) on Investments |
(15.176) |
(.205) |
4.205 |
7.768 |
(4.362) |
Total from Investment Operations |
(13.005) |
1.958 |
6.966 |
10.900 |
(1.427) |
Distributions |
|
|
|
|
|
Dividends from Net Investment Income |
(2.141) |
(2.169) |
(2.806) |
(3.100) |
(2.903) |
Distributions from Realized Capital Gains |
(.594) |
(.199) |
— |
— |
— |
Total Distributions |
(2.735) |
(2.368) |
(2.806) |
(3.100) |
(2.903) |
Net Asset Value, End of Period |
$79.83 |
$95.57 |
$95.98 |
$91.82 |
$84.02 |
Total Return |
-13.86% |
2.08% |
7.78% |
13.33% |
-1.62% |
Ratios/Supplemental Data |
|
|
|
|
|
Net Assets, End of Period (Millions) |
$41,058 |
$46,873 |
$38,944 |
$24,080 |
$19,302 |
Ratio of Total Expenses to Average Net Assets |
0.04%2 |
0.04% |
0.05% |
0.05% |
0.07% |
Ratio of Net Investment Income to Average Net Assets |
2.48% |
2.27% |
2.99% |
3.65% |
3.44% |
Portfolio Turnover Rate3 |
58% |
53% |
72% |
59% |
65% |
|
|
1 |
Calculated based on average shares outstanding. |
2 |
The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements
was 0.04%. |
3 |
Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of
the fund’s capital shares, including ETF Creation Units. |
|
Year Ended August 31, | ||||
For a Share Outstanding Throughout Each Period |
2022 |
2021 |
2020 |
2019 |
2018 |
Net Asset Value, Beginning of Period |
$108.31 |
$107.01 |
$102.86 |
$88.35 |
$94.07 |
Investment Operations |
|
|
|
|
|
Net Investment Income1 |
3.286 |
3.294 |
3.701 |
3.936 |
3.880 |
Net Realized and Unrealized Gain (Loss) on
Investments2 |
(27.794) |
1.288 |
4.189 |
14.458 |
(5.722) |
Total from Investment Operations |
(24.508) |
4.582 |
7.890 |
18.394 |
(1.842) |
Distributions |
|
|
|
|
|
Dividends from Net Investment Income |
(3.262) |
(3.282) |
(3.740) |
(3.884) |
(3.878) |
Distributions from Realized Capital Gains |
— |
— |
— |
— |
— |
Total Distributions |
(3.262) |
(3.282) |
(3.740) |
(3.884) |
(3.878) |
Net Asset Value, End of Period |
$80.54 |
$108.31 |
$107.01 |
$102.86 |
$88.35 |
Total Return |
-23.06% |
4.39% |
7.90% |
21.60% |
-2.01% |
Ratios/Supplemental Data |
|
|
|
|
|
Net Assets, End of Period (Millions) |
$4,545 |
$5,517 |
$5,214 |
$4,074 |
$2,509 |
Ratio of Total Expenses to Average Net Assets |
0.04%3 |
0.04% |
0.05% |
0.05% |
0.07% |
Ratio of Net Investment Income to Average Net
Assets |
3.47% |
3.10% |
3.60% |
4.36% |
4.26% |
Portfolio Turnover Rate4 |
31% |
36% |
62% |
47% |
48% |
|
|
1 |
Calculated based on average shares outstanding. |
2 |
Includes increases from purchase fees of $.01, $.03, $.00, $.00, and $.09. |
3 |
The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements
was 0.04%. |
4 |
Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of
the fund’s capital shares, including ETF Creation Units. |
|
Year Ended August 31, | ||||
For a Share Outstanding Throughout Each Period |
2022 |
2021 |
2020 |
2019 |
2018 |
Net Asset Value, Beginning of Period |
$53.47 |
$54.36 |
$53.26 |
$51.38 |
$53.00 |
Investment Operations |
|
|
|
|
|
Net Investment Income1 |
.842 |
.581 |
1.197 |
1.564 |
1.325 |
Net Realized and Unrealized Gain (Loss) on Investments |
(5.995) |
(.768) |
1.146 |
1.859 |
(1.683) |
Total from Investment Operations |
(5.153) |
(.187) |
2.343 |
3.423 |
(.358) |
Distributions |
|
|
|
|
|
Dividends from Net Investment Income |
(.787) |
(.594) |
(1.243) |
(1.543) |
(1.262) |
Distributions from Realized Capital Gains |
— |
(.109) |
— |
— |
— |
Total Distributions |
(.787) |
(.703) |
(1.243) |
(1.543) |
(1.262) |
Net Asset Value, End of Period |
$47.53 |
$53.47 |
$54.36 |
$53.26 |
$51.38 |
Total Return |
-9.71% |
-0.35% |
4.45% |
6.80% |
-0.67% |
Ratios/Supplemental Data |
|
|
|
|
|
Net Assets, End of Period (Millions) |
$14,405 |
$15,055 |
$11,643 |
$10,316 |
$7,193 |
Ratio of Total Expenses to Average Net Assets |
0.04%2 |
0.04% |
0.05% |
0.05% |
0.07% |
Ratio of Net Investment Income to Average Net Assets |
1.67% |
1.08% |
2.22% |
3.01% |
2.56% |
Portfolio Turnover Rate3 |
170% |
316% |
218% |
190% |
279% |
|
|
1 |
Calculated based on average shares outstanding. |
2 |
The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements
was 0.04%. |
3 |
Includes 113%, 237%, 11%, 34%, and 78%, respectively, attributable to mortgage-dollar-roll activity. |
| |
Transaction Fee on Purchases and Sales |
|
Transaction Fee on Reinvested Dividends |
|
| |
Management Fees |
|
12b-1 Distribution Fee |
|
Other Expenses |
|
Acquired Fund Fees and Expenses |
|
Total Annual Fund Operating Expenses |
|
1 Year |
3 Years |
5 Years |
10 Years |
$ |
$ |
$ |
$ |
|
Total Return |
Quarter |
|
|
|
|
- |
|
|
1 Year |
Since
Fund
Inception |
Fund
Inception
Date |
Vanguard Total Corporate Bond ETF Shares |
|
|
|
Based on NAV |
|
|
|
Return Before Taxes |
- |
|
|
Return After Taxes on Distributions |
- |
|
|
Return After Taxes on Distributions and Sale of Fund
Shares |
- |
|
|
Based on Market Price |
|
|
|
Return Before Taxes |
- |
|
|
Bloomberg U.S. Corporate Bond Index
(reflects no deduction for fees, expenses, or taxes) |
- |
|
|
Bloomberg U.S. Aggregate Float Adjusted Index
(reflects no deduction for fees, expenses, or taxes) |
- |
|
|
Plain Talk About Fund Expenses |
All funds have operating expenses. These expenses, which are deducted
from a fund’s gross income, are expressed as a percentage of the net assets
of the fund. Assuming that operating expenses remain as stated in the Fees
and Expenses section, Vanguard Total Corporate Bond ETF Shares’ expense
ratio would be 0.04%, or $0.40 per $1,000 of average net assets. The
average expense ratio for core bond funds in 2021 was 0.66%, or $6.60 per
$1,000 of average net assets (derived from data provided by Lipper, a
Thomson Reuters Company, which reports on the fund industry). |
Plain Talk About Costs of Investing |
Costs are an important consideration in choosing an ETF. That is because
you, as a shareholder, pay a proportionate share of the costs of operating a
fund and any transaction costs incurred when the fund buys or sells
securities. These costs can erode a substantial portion of the gross income
or the capital appreciation a fund achieves. Even seemingly small differences
in expenses can, over time, have a dramatic effect on a fund’s performance. |
Type of Bond (Maturity) |
After a 1%
Increase |
After a 1%
Decrease |
After a 2%
Increase |
After a 2%
Decrease |
Short-Term (2.5 years) |
$977 |
$1,024 |
$954 |
$1,049 |
Intermediate-Term (10 years) |
922 |
1,086 |
851 |
1,180 |
Long-Term (20 years) |
874 |
1,150 |
769 |
1,328 |
Plain Talk About Bonds and Interest Rates |
As a rule, when interest rates rise, bond prices fall. The opposite is also true:
Bond prices go up when interest rates fall. Why do bond prices and interest
rates move in opposite directions? Let’s assume that you hold a bond
offering a 4% yield. A year later, interest rates are on the rise and bonds of
comparable quality and maturity are offered with a 5% yield. With
higher-yielding bonds available, you would have trouble selling your 4% bond
for the price you paid—you would probably have to lower your asking price.
On the other hand, if interest rates were falling and 3% bonds were being
offered, you should be able to sell your 4% bond for more than you paid. |
Plain Talk About Bond Maturities |
A bond is issued with a specific maturity date—the date when the issuer
must pay back the bond’s principal (face value). Bond maturities range from
less than 1 year to more than 30 years. Typically, the longer a bond’s maturity,
the more price risk you, as a bond investor, will face as interest rates
rise—but also the higher the potential yield you could receive. Longer-term
bonds are generally more suitable for investors willing to take a greater risk
of price fluctuations to get higher and more stable interest income.
Shorter-term bond investors should be willing to accept lower yields and
greater income variability in return for less fluctuation in the value of their
investment. The stated maturity of a bond may differ from the effective
maturity of a bond, which takes into consideration that an action such as a
call or refunding may cause bonds to be repaid before their stated
maturity dates. |
Plain Talk About Credit Quality |
A bond’s credit quality rating is an assessment of the issuer’s ability to pay
interest on the bond and, ultimately, to repay the principal. The lower the
credit quality, the greater the perceived chance that the bond issuer will
default, or fail to meet its payment obligations. All things being equal, the
lower a bond’s credit quality, the higher its yield should be to compensate
investors for assuming additional risk. |
Plain Talk About Derivatives |
Derivatives can take many forms. Some forms of derivatives—such as
exchange-traded futures and options on securities, commodities, or
indexes—have been trading on regulated exchanges for decades. These
types of derivatives are standardized contracts that can easily be bought and
sold and whose market values are determined and published daily. On the
other hand, non-exchange-traded derivatives—such as certain swap
agreementsand foreign currency exchange forward contracts—tend to be
more specialized or complex and may be more difficult to accurately value. |
Plain Talk About Vanguard’s Unique Corporate Structure |
Vanguard is owned jointly by the funds it oversees and thus indirectly by the
shareholders in those funds. Most other mutual funds are operated by
management companies that are owned by third parties—either public or
private stockholders—and not by the funds they serve. |
Plain Talk About Distributions |
As a shareholder, you are entitled to your portion of a fund’s income from
interest as well as capital gains from the fund’s sale of investments. Income
consists of interest the fund earns from its money market and bond
investments. Capital gains are realized whenever the fund sells securities for
higher prices than it paid for them. These capital gains are either short-term
or long-term, depending on whether the fund held the securities for one year
or less or for more than one year. |
Vanguard Fund |
Inception Date |
Vanguard Fund Number |
CUSIP Number |
Vanguard Total Corporate
Bond ETF |
11/7/2017 |
985 |
92206C573 |
|
Year Ended August 31, |
November 7,
20171 to
August 31, | |||
For a Share Outstanding Throughout Each Period |
2022 |
2021 |
2020 |
2019 |
2018 |
Net Asset Value, Beginning of Period |
$92.55 |
$92.62 |
$89.19 |
$81.59 |
$85.00 |
Investment Operations |
|
|
|
|
|
Net Investment Income2 |
2.141 |
2.229 |
2.638 |
2.825 |
2.081 |
Capital Gain Distributions Received2 |
.237 |
.053 |
— |
— |
— |
Net Realized and Unrealized Gain (Loss) on
Investments |
(16.168) |
(.131) |
3.614 |
7.717 |
(3.445) |
Total from Investment Operations |
(13.790) |
2.151 |
6.252 |
10.542 |
(1.364) |
Distributions |
|
|
|
|
|
Dividends from Net Investment Income |
(2.148) |
(2.221) |
(2.822) |
(2.942) |
(2.046) |
Distributions from Realized Capital Gains |
(.012) |
— |
— |
— |
— |
Total Distributions |
(2.160) |
(2.221) |
(2.822) |
(2.942) |
(2.046) |
Net Asset Value, End of Period |
$76.60 |
$92.55 |
$92.62 |
$89.19 |
$81.59 |
Total Return |
-15.11% |
2.37% |
7.18% |
13.29% |
-1.60% |
Ratios/Supplemental Data |
|
|
|
|
|
Net Assets, End of Period (Millions) |
$579 |
$695 |
$619 |
$203 |
$55 |
Ratio of Total Expenses to Average Net Assets |
— |
— |
— |
— |
—3 |
Acquired Fund Fees and Expenses |
0.04% |
0.04% |
0.05% |
0.05% |
0.07%3 |
Ratio of Net Investment Income to Average Net
Assets |
2.52% |
2.43% |
2.94% |
3.38% |
3.10%3 |
Portfolio Turnover Rate4 |
14% |
10% |
40% |
12% |
4% |
|
|
1 |
Inception. |
2 |
Calculated based on average shares outstanding. |
3 |
Annualized. |
4 |
Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of
the fund’s capital shares, including ETF Creation Units. |
| |
Sales Charge (Load) Imposed on Purchases |
|
Purchase Fee |
|
Sales Charge (Load) Imposed on Reinvested Dividends |
|
Redemption Fee |
|
| |
Management Fees |
|
12b-1 Distribution Fee |
|
Other Expenses |
|
Total Annual Fund Operating Expenses |
|
1 Year |
3 Years |
5 Years |
10 Years |
$ |
$ |
$ |
$ |
|
Total Return |
Quarter |
|
|
|
|
- |
|
|
1 Year |
5 Years |
10 Years |
Vanguard Russell 1000 Index Fund Institutional Shares |
|
|
|
Return Before Taxes |
|
|
|
Return After Taxes on Distributions |
|
|
|
Return After Taxes on Distributions and Sale of Fund Shares |
|
|
|
Russell 1000 Index
(reflects no deduction for fees, expenses, or taxes) |
|
|
|
Dow Jones U.S. Total Stock Market Float Adjusted Index
(reflects no deduction for fees, expenses, or taxes) |
|
|
|
| |
Sales Charge (Load) Imposed on Purchases |
|
Purchase Fee |
|
Sales Charge (Load) Imposed on Reinvested Dividends |
|
Redemption Fee |
|
| |
Management Fees |
|
12b-1 Distribution Fee |
|
Other Expenses |
|
Total Annual Fund Operating Expenses |
|
1 Year |
3 Years |
5 Years |
10 Years |
$ |
$ |
$ |
$ |
|
Total Return |
Quarter |
|
|
|
|
- |
|
|
1 Year |
5 Years |
10 Years |
Vanguard Russell 1000 Value Index Fund
Institutional Shares |
|
|
|
Return Before Taxes |
|
|
|
Return After Taxes on Distributions |
|
|
|
Return After Taxes on Distributions and Sale of Fund Shares |
|
|
|
Russell 1000 Value Index
(reflects no deduction for fees, expenses, or taxes) |
|
|
|
Dow Jones U.S. Total Stock Market Float Adjusted Index
(reflects no deduction for fees, expenses, or taxes) |
|
|
|
| |
Sales Charge (Load) Imposed on Purchases |
|
Purchase Fee |
|
Sales Charge (Load) Imposed on Reinvested Dividends |
|
Redemption Fee |
|
| |
Management Fees |
|
12b-1 Distribution Fee |
|
Other Expenses |
|
Total Annual Fund Operating Expenses |
|
1 Year |
3 Years |
5 Years |
10 Years |
$ |
$ |
$ |
$ |
|
Total Return |
Quarter |
|
|
|
|
- |
|
|
1 Year |
5 Years |
10 Years |
Vanguard Russell 1000 Growth Index Fund
Institutional Shares |
|
|
|
Return Before Taxes |
|
|
|
Return After Taxes on Distributions |
|
|
|
Return After Taxes on Distributions and Sale of Fund Shares |
|
|
|
Russell 1000 Growth Index
(reflects no deduction for fees, expenses, or taxes) |
|
|
|
Dow Jones U.S. Total Stock Market Float Adjusted Index
(reflects no deduction for fees, expenses, or taxes) |
|
|
|
Plain Talk About Costs of Investing |
Costs are an important consideration in choosing a mutual fund. That is
because you, as a shareholder, pay a proportionate share of the costs of
operating a fund and any transaction costs incurred when the fund buys or
sells securities. These costs can erode a substantial portion of the gross
income or the capital appreciation a fund achieves. Even seemingly small
differences in expenses can, over time, have a dramatic effect on a
fund’s performance. |
Vanguard Fund |
Asset-Weighted Median
Market Capitalization |
Vanguard Russell 1000 Index Fund |
$129 billion |
Vanguard Russell 1000 Value Index Fund |
73 |
Vanguard Russell 1000 Growth Index Fund |
267 |
Plain Talk About Growth Funds and Value Funds |
Growth investing and value investing are two styles employed by stock-fund
managers. Growth funds generally invest in stocks of companies believed to
have above-average potential for growth in revenue, earnings, cash flow, or
other similar criteria. These stocks typically have low dividend yields, if any,
and above-average prices in relation to measures such as earnings and book
value. Value funds typically invest in stocks whose prices are below average
in relation to those measures; these stocks often have above-average
dividend yields. Value stocks also may remain undervalued by the market for
long periods of time. Growth and value stocks have historically produced
similar long-term returns, though each category has periods when it
outperforms the other. |
Plain Talk About Vanguard’s Unique Corporate Structure |
Vanguard is owned jointly by the funds it oversees and thus indirectly by the
shareholders in those funds. Most other mutual funds are operated by
management companies that are owned by third parties—either public or
private stockholders—and not by the funds they serve. |
Plain Talk About Distributions |
As a shareholder, you are entitled to your portion of a fund’s income from
interest and dividends as well as capital gains from the fund’s sale of
investments. Income consists of both the dividends that the fund earns from
any stock holdings and the interest it receives from any money market and
bond investments. Capital gains are realized whenever the fund sells
securities for higher prices than it paid for them. These capital gains are
either short-term or long-term, depending on whether the fund held the
securities for one year or less or for more than one year. |
Plain Talk About Buying a Dividend |
Unless you are a tax-exempt investor or investing through a tax-advantaged
account (such as an IRA or an employer-sponsored retirement or savings
plan), you should consider avoiding a purchase of fund shares shortly before
the fund makes a distribution, because doing so can cost you money in
taxes. This is known as “buying a dividend.” For example: On December 15,
you invest $5,000, buying 250 shares for $20 each. If the fund pays a
distribution of $1 per share on December 16, its share price will drop to $19
(not counting market change). You still have only $5,000 (250 shares x $19 =
$4,750 in share value, plus 250 shares x $1 = $250 in distributions), but you
owe tax on the $250 distribution you received—even if you reinvest it in
more shares. To avoid buying a dividend, check a fund’s distribution schedule
before you invest. |
|
Year Ended August 31, | ||||
For a Share Outstanding Throughout Each Period |
2022 |
2021 |
2020 |
2019 |
2018 |
Net Asset Value, Beginning of Period |
$407.44 |
$312.59 |
$260.26 |
$258.75 |
$220.06 |
Investment Operations |
|
|
|
|
|
Net Investment Income1 |
5.354 |
4.807 |
4.927 |
4.645 |
4.345 |
Net Realized and Unrealized Gain (Loss) on
Investments |
(57.922) |
94.766 |
52.362 |
1.483 |
38.573 |
Total from Investment Operations |
(52.568) |
99.573 |
57.289 |
6.128 |
42.918 |
Distributions |
|
|
|
|
|
Dividends from Net Investment Income |
(5.252) |
(4.723) |
(4.959) |
(4.618) |
(4.228) |
Distributions from Realized Capital Gains |
— |
— |
— |
— |
— |
Total Distributions |
(5.252) |
(4.723) |
(4.959) |
(4.618) |
(4.228) |
Net Asset Value, End of Period |
$349.62 |
$407.44 |
$312.59 |
$260.26 |
$258.75 |
Total Return |
-13.01% |
32.16% |
22.45% |
2.45% |
19.72% |
Ratios/Supplemental Data |
|
|
|
|
|
Net Assets, End of Period (Millions) |
$2,174 |
$2,822 |
$2,523 |
$2,323 |
$2,134 |
Ratio of Total Expenses to Average Net Assets |
0.07% |
0.07% |
0.07% |
0.07% |
0.08% |
Ratio of Net Investment Income to Average Net
Assets |
1.39% |
1.36% |
1.81% |
1.86% |
1.82% |
Portfolio Turnover Rate2 |
10% |
6% |
9% |
6% |
9% |
|
|
1 |
Calculated based on average shares outstanding. |
2 |
Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of
the fund’s capital shares, including ETF Creation Units. |
|
Year Ended August 31, | ||||
For a Share Outstanding Throughout Each Period |
2022 |
2021 |
2020 |
2019 |
2018 |
Net Asset Value, Beginning of Period |
$279.40 |
$209.00 |
$213.25 |
$217.14 |
$197.85 |
Investment Operations |
|
|
|
|
|
Net Investment Income1 |
5.555 |
5.002 |
5.594 |
5.294 |
4.978 |
Net Realized and Unrealized Gain (Loss) on
Investments |
(22.930) |
70.071 |
(4.226) |
(4.087) |
19.227 |
Total from Investment Operations |
(17.375) |
75.073 |
1.368 |
1.207 |
24.205 |
Distributions |
|
|
|
|
|
Dividends from Net Investment Income |
(5.415) |
(4.673) |
(5.618) |
(5.097) |
(4.915) |
Distributions from Realized Capital Gains |
— |
— |
— |
— |
— |
Total Distributions |
(5.415) |
(4.673) |
(5.618) |
(5.097) |
(4.915) |
Net Asset Value, End of Period |
$256.61 |
$279.40 |
$209.00 |
$213.25 |
$217.14 |
Total Return |
-6.30% |
36.35% |
0.81% |
0.61% |
12.39% |
Ratios/Supplemental Data |
|
|
|
|
|
Net Assets, End of Period (Millions) |
$1,608 |
$1,773 |
$1,207 |
$1,889 |
$1,603 |
Ratio of Total Expenses to Average Net Assets |
0.07% |
0.07% |
0.07% |
0.07% |
0.08% |
Ratio of Net Investment Income to Average Net
Assets |
2.03% |
2.01% |
2.64% |
2.52% |
2.39% |
Portfolio Turnover Rate2 |
14% |
19% |
24% |
17% |
16% |
|
|
1 |
Calculated based on average shares outstanding. |
2 |
Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of
the fund’s capital shares, including ETF Creation Units. |
|
Year Ended August 31, | ||||
For a Share Outstanding Throughout Each Period |
2022 |
2021 |
2020 |
2019 |
2018 |
Net Asset Value, Beginning of Period |
$575.10 |
$451.15 |
$316.39 |
$306.82 |
$244.34 |
Investment Operations |
|
|
|
|
|
Net Investment Income1 |
4.036 |
3.573 |
3.695 |
3.711 |
3.485 |
Net Realized and Unrealized Gain (Loss) on
Investments |
(113.399) |
123.861 |
134.792 |
9.061 |
62.293 |
Total from Investment Operations |
(109.363) |
127.434 |
138.487 |
12.772 |
65.778 |
Distributions |
|
|
|
|
|
Dividends from Net Investment Income |
(3.807) |
(3.484) |
(3.727) |
(3.202) |
(3.298) |
Distributions from Realized Capital Gains |
— |
— |
— |
— |
— |
Total Distributions |
(3.807) |
(3.484) |
(3.727) |
(3.202) |
(3.298) |
Net Asset Value, End of Period |
$461.93 |
$575.10 |
$451.15 |
$316.39 |
$306.82 |
Total Return |
-19.09% |
28.42% |
44.24% |
4.21% |
27.14% |
Ratios/Supplemental Data |
|
|
|
|
|
Net Assets, End of Period (Millions) |
$2,754 |
$3,573 |
$3,542 |
$3,076 |
$3,182 |
Ratio of Total Expenses to Average Net Assets |
0.07% |
0.07% |
0.07% |
0.07% |
0.08% |
Ratio of Net Investment Income to Average Net
Assets |
0.77% |
0.74% |
1.06% |
1.26% |
1.28% |
Portfolio Turnover Rate2 |
13% |
14% |
14% |
17% |
15% |
|
|
1 |
Calculated based on average shares outstanding. |
2 |
Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of
the fund’s capital shares, including ETF Creation Units. |
Web |
|
Vanguard.com |
For the most complete source of Vanguard news
For fund, account, and service information
For most account transactions
For literature requests
24 hours a day, 7 days a week |
Phone | |
Vanguard Tele-Account®
800-662-6273 |
For automated fund and account information
Toll-free, 24 hours a day, 7 days a week |
Investor Information 800-662-7447
(Text telephone for people with
hearing impairment at 800-749-7273) |
For fund and service information
For literature requests |
Client Services 800-662-2739
(Text telephone for people with
hearing impairment at 800-749-7273) |
For account information
For most account transactions |
Participant Services 800-523-1188
(Text telephone for people with
hearing impairment at 800-749-7273) |
For information and services for participants in
employer-sponsored plans |
Institutional Division
888-809-8102 |
For information and services for large institutional
investors |
Financial Advisor and Intermediary
Sales Support 800-997-2798 |
For information and services for financial intermediaries
including financial advisors, broker-dealers, trust
institutions, and insurance companies |
Financial Advisory and Intermediary
Trading Support 800-669-0498 |
For account information and trading support for
financial intermediaries including financial advisors,
broker-dealers, trust institutions, and insurance
companies |
Vanguard Fund |
Inception
Date |
Newspaper
Abbreviation |
Vanguard
Fund
Number |
CUSIP
Number |
Vanguard Russell 1000 Index Fund |
|
|
| |
Institutional Shares |
10/15/2010 |
Russ1000IdxInst |
1848 |
92206C722 |
Vanguard Russell 1000 Value Index Fund |
|
|
| |
Institutional Shares |
12/10/2010 |
Russ1000ValIdxInst |
1849 |
92206C698 |
Vanguard Russell 1000 Growth Index Fund |
|
|
| |
Institutional Shares |
12/6/2010 |
Russ1000GwthIdxInst |
1850 |
92206C672 |
| |
Sales Charge (Load) Imposed on Purchases |
|
Purchase Fee |
|
Sales Charge (Load) Imposed on Reinvested Dividends |
|
Redemption Fee |
|
| |
Management Fees |
|
12b-1 Distribution Fee |
|
Other Expenses |
|
Total Annual Fund Operating Expenses |
|
1 Year |
3 Years |
5 Years |
10 Years |
$ |
$ |
$ |
$ |
|
Total Return |
Quarter |
|
|
|
|
- |
|
|
1 Year |
5 Years |
10 Years |
Vanguard Russell 2000 Index Fund Institutional Shares |
|
|
|
Return Before Taxes |
|
|
|
Return After Taxes on Distributions |
|
|
|
Return After Taxes on Distributions and Sale of Fund Shares |
|
|
|
Russell 2000 Index
(reflects no deduction for fees, expenses, or taxes) |
|
|
|
Dow Jones U.S. Total Stock Market Float Adjusted Index
(reflects no deduction for fees, expenses, or taxes) |
|
|
|
| |
Sales Charge (Load) Imposed on Purchases |
|
Purchase Fee |
|
Sales Charge (Load) Imposed on Reinvested Dividends |
|
Redemption Fee |
|
| |
Management Fees |
|
12b-1 Distribution Fee |
|
Other Expenses |
|
Total Annual Fund Operating Expenses |
|
1 Year |
3 Years |
5 Years |
10 Years |
$ |
$ |
$ |
$ |
|
Total Return |
Quarter |
|
|
|
|
- |
|
|
1 Year |
5 Years |
Since
Fund
Inception |
Fund
Inception
Date |
Vanguard Russell 2000 Value Index Fund
Institutional Shares |
|
|
|
|
Return Before Taxes |
|
|
|
|
Return After Taxes on Distributions |
|
|
|
|
Return After Taxes on Distributions and Sale of
Fund Shares |
|
|
|
|
Russell 2000 Value Index
(reflects no deduction for fees, expenses,
or taxes) |
|
|
|
|
Dow Jones U.S. Total Stock Market Float
Adjusted Index
(reflects no deduction for fees, expenses,
or taxes) |
|
|
|
|
| |
Sales Charge (Load) Imposed on Purchases |
|
Purchase Fee |
|
Sales Charge (Load) Imposed on Reinvested Dividends |
|
Redemption Fee |
|
| |
Management Fees |
|
12b-1 Distribution Fee |
|
Other Expenses |
|
Total Annual Fund Operating Expenses |
|
1 Year |
3 Years |
5 Years |
10 Years |
$ |
$ |
$ |
$ |
|
Total Return |
Quarter |
|
|
|
|
- |
|
|
1 Year |
5 Years |
10Years |
Vanguard Russell 2000 Growth Index Fund
Institutional Shares |
|
|
|
Return Before Taxes |
|
|
|
Return After Taxes on Distributions |
|
|
|
Return After Taxes on Distributions and Sale of Fund Shares |
|
|
|
Russell 2000 Growth Index
(reflects no deduction for fees, expenses, or taxes) |
|
|
|
Dow Jones U.S. Total Stock Market Float Adjusted Index
(reflects no deduction for fees, expenses, or taxes) |
|
|
|
Plain Talk About Costs of Investing |
Costs are an important consideration in choosing a mutual fund. That is
because you, as a shareholder, pay a proportionate share of the costs of
operating a fund and any transaction costs incurred when the fund buys or
sells securities. These costs can erode a substantial portion of the gross
income or the capital appreciation a fund achieves. Even seemingly small
differences in expenses can, over time, have a dramatic effect on a
fund’s performance. |
Vanguard Fund |
Asset-Weighted Median
Market Capitalization |
Vanguard Russell 2000 Index Fund |
$2.5 billion |
Vanguard Russell 2000 Value Index Fund |
2.0 |
Vanguard Russell 2000 Growth Index Fund |
2.9 |
Plain Talk About Growth Funds and Value Funds |
Growth investing and value investing are two styles employed by stock-fund
managers. Growth funds generally invest in stocks of companies believed to
have above-average potential for growth in revenue, earnings, cash flow, or
other similar criteria. These stocks typically have low dividend yields, if any,
and above-average prices in relation to measures such as earnings and book
value. Value funds typically invest in stocks whose prices are below average
in relation to those measures; these stocks often have above-average
dividend yields. Value stocks also may remain undervalued by the market for
long periods of time. Growth and value stocks have historically produced
similar long-term returns, though each category has periods when it
outperforms the other. |
Plain Talk About Vanguard’s Unique Corporate Structure |
Vanguard is owned jointly by the funds it oversees and thus indirectly by the
shareholders in those funds. Most other mutual funds are operated by
management companies that are owned by third parties—either public or
private stockholders—and not by the funds they serve. |
Plain Talk About Distributions |
As a shareholder, you are entitled to your portion of a fund’s income from
interest and dividends as well as capital gains from the fund’s sale of
investments. Income consists of both the dividends that the fund earns from
any stock holdings and the interest it receives from any money market and
bond investments. Capital gains are realized whenever the fund sells
securities for higher prices than it paid for them. These capital gains are
either short-term or long-term, depending on whether the fund held the
securities for one year or less or for more than one year. |
Plain Talk About Buying a Dividend |
Unless you are a tax-exempt investor or investing through a tax-advantaged
account (such as an IRA or an employer-sponsored retirement or savings
plan), you should consider avoiding a purchase of fund shares shortly before
the fund makes a distribution, because doing so can cost you money in
taxes. This is known as “buying a dividend.” For example: On December 15,
you invest $5,000, buying 250 shares for $20 each. If the fund pays a
distribution of $1 per share on December 16, its share price will drop to $19
(not counting market change). You still have only $5,000 (250 shares x $19 =
$4,750 in share value, plus 250 shares x $1 = $250 in distributions), but you
owe tax on the $250 distribution you received—even if you reinvest it in
more shares. To avoid buying a dividend, check a fund’s distribution schedule
before you invest. |
|
Year Ended August 31, | ||||
For a Share Outstanding Throughout Each Period |
2022 |
2021 |
2020 |
2019 |
2018 |
Net Asset Value, Beginning of Period |
$349.26 |
$239.84 |
$229.03 |
$266.12 |
$214.65 |
Investment Operations |
|
|
|
|
|
Net Investment Income1 |
4.063 |
3.360 |
3.208 |
3.078 |
3.129 |
Net Realized and Unrealized Gain (Loss) on
Investments |
(66.085) |
109.242 |
10.710 |
(37.106) |
51.369 |
Total from Investment Operations |
(62.022) |
112.602 |
13.918 |
(34.028) |
54.498 |
Distributions |
|
|
|
|
|
Dividends from Net Investment Income |
(4.018) |
(3.182) |
(3.108) |
(3.062) |
(3.028) |
Distributions from Realized Capital Gains |
— |
— |
— |
— |
— |
Total Distributions |
(4.018) |
(3.182) |
(3.108) |
(3.062) |
(3.028) |
Net Asset Value, End of Period |
$283.22 |
$349.26 |
$239.84 |
$229.03 |
$266.12 |
Total Return |
-17.88% |
47.19% |
6.15% |
-12.83% |
25.58% |
Ratios/Supplemental Data |
|
|
|
|
|
Net Assets, End of Period (Millions) |
$487 |
$619 |
$630 |
$859 |
$982 |
Ratio of Total Expenses to Average Net Assets |
0.08%2 |
0.08% |
0.08% |
0.08% |
0.08% |
Ratio of Net Investment Income to Average Net
Assets |
1.29% |
1.08% |
1.41% |
1.32% |
1.30% |
Portfolio Turnover Rate3 |
19% |
23% |
19% |
16% |
19% |
|
|
1 |
Calculated based on average shares outstanding. |
2 |
The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements
was 0.08%. |
3 |
Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of
the fund’s capital shares, including ETF Creation Units. |
|
Year Ended August 31, | ||||
For a Share Outstanding Throughout Each Period |
2022 |
2021 |
2020 |
2019 |
2018 |
Net Asset Value, Beginning of Period |
$283.82 |
$180.98 |
$196.24 |
$234.81 |
$199.13 |
Investment Operations |
|
|
|
|
|
Net Investment Income1 |
4.918 |
4.212 |
3.783 |
3.966 |
4.029 |
Net Realized and Unrealized Gain (Loss) on
Investments |
(33.609) |
102.428 |
(15.303) |
(38.670) |
35.618 |
Total from Investment Operations |
(28.691) |
106.640 |
(11.520) |
(34.704) |
39.647 |
Distributions |
|
|
|
|
|
Dividends from Net Investment Income |
(5.089) |
(3.800) |
(3.740) |
(3.866) |
(3.967) |
Distributions from Realized Capital Gains |
— |
— |
— |
— |
— |
Total Distributions |
(5.089) |
(3.800) |
(3.740) |
(3.866) |
(3.967) |
Net Asset Value, End of Period |
$250.04 |
$283.82 |
$180.98 |
$196.24 |
$234.81 |
Total Return |
-10.23% |
59.46% |
-5.97% |
-14.88% |
20.10% |
Ratios/Supplemental Data |
|
|
|
|
|
Net Assets, End of Period (Millions) |
$184 |
$202 |
$88 |
$140 |
$151 |
Ratio of Total Expenses to Average Net Assets |
0.08% |
0.08% |
0.08% |
0.08% |
0.08% |
Ratio of Net Investment Income to Average Net
Assets |
1.82% |
1.67% |
2.04% |
1.90% |
1.85% |
Portfolio Turnover Rate2 |
28% |
45% |
38% |
27% |
30% |
|
|
1 |
Calculated based on average shares outstanding. |
2 |
Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of
the fund’s capital shares, including ETF Creation Units. |
|
Year Ended August 31, | ||||
For a Share Outstanding Throughout Each Period |
2022 |
2021 |
2020 |
2019 |
2018 |
Net Asset Value, Beginning of Period |
$424.16 |
$314.01 |
$269.76 |
$305.04 |
$234.80 |
Investment Operations |
|
|
|
|
|
Net Investment Income1 |
2.706 |
1.912 |
2.275 |
2.021 |
2.026 |
Net Realized and Unrealized Gain (Loss) on
Investments |
(109.390) |
110.162 |
44.269 |
(35.267) |
70.080 |
Total from Investment Operations |
(106.684) |
112.074 |
46.544 |
(33.246) |
72.106 |
Distributions |
|
|
|
|
|
Dividends from Net Investment Income |
(2.276) |
(1.924) |
(2.294) |
(2.034) |
(1.866) |
Distributions from Realized Capital Gains |
— |
— |
— |
— |
— |
Total Distributions |
(2.276) |
(1.924) |
(2.294) |
(2.034) |
(1.866) |
Net Asset Value, End of Period |
$315.20 |
$424.16 |
$314.01 |
$269.76 |
$305.04 |
Total Return |
-25.24% |
35.77% |
17.42% |
-10.91% |
30.85% |
Ratios/Supplemental Data |
|
|
|
|
|
Net Assets, End of Period (Millions) |
$255 |
$752 |
$500 |
$472 |
$545 |
Ratio of Total Expenses to Average Net Assets |
0.08% |
0.08% |
0.08% |
0.08% |
0.08% |
Ratio of Net Investment Income to Average Net
Assets |
0.72% |
0.48% |
0.82% |
0.75% |
0.76% |
Portfolio Turnover Rate2 |
33% |
47% |
38% |
28% |
35% |
|
|
1 |
Calculated based on average shares outstanding. |
2 |
Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of
the fund’s capital shares, including ETF Creation Units. |
Web |
|
Vanguard.com |
For the most complete source of Vanguard news
For fund, account, and service information
For most account transactions
For literature requests
24 hours a day, 7 days a week |
Phone | |
Vanguard Tele-Account®
800-662-6273 |
For automated fund and account information
Toll-free, 24 hours a day, 7 days a week |
Investor Information 800-662-7447
(Text telephone for people with
hearing impairment at 800-749-7273) |
For fund and service information
For literature requests |
Client Services 800-662-2739
(Text telephone for people with
hearing impairment at 800-749-7273) |
For account information
For most account transactions |
Participant Services 800-523-1188
(Text telephone for people with
hearing impairment at 800-749-7273) |
For information and services for participants in
employer-sponsored plans |
Institutional Division
888-809-8102 |
For information and services for large institutional
investors |
Financial Advisor and Intermediary
Sales Support 800-997-2798 |
For information and services for financial intermediaries
including financial advisors, broker-dealers, trust
institutions, and insurance companies |
Financial Advisory and Intermediary
Trading Support 800-669-0498 |
For account information and trading support for
financial intermediaries including financial advisors,
broker-dealers, trust institutions, and insurance
companies |
Vanguard Fund |
Inception
Date |
Newspaper
Abbreviation |
Vanguard
Fund
Number |
CUSIP
Number |
Vanguard Russell 2000 Index Fund |
|
|
| |
Institutional Shares |
12/22/2010 |
Russ2000IdxInst |
1851 |
92206C656 |
Vanguard Russell 2000 Value Index Fund |
|
|
| |
Institutional Shares |
7/13/2012 |
Russ2000ValIdxInst |
1852 |
92206C631 |
Vanguard Russell 2000 Growth Index Fund |
|
|
| |
Institutional Shares |
5/25/2011 |
Russ2000GwthIdxInst |
1853 |
92206C615 |
| |
Sales Charge (Load) Imposed on Purchases |
|
Purchase Fee |
|
Sales Charge (Load) Imposed on Reinvested Dividends |
|
Redemption Fee |
|
| |
Management Fees |
|
12b-1 Distribution Fee |
|
Other Expenses |
|
Total Annual Fund Operating Expenses |
|
1 Year |
3 Years |
5 Years |
10 Years |
$ |
$ |
$ |
$ |
|
Total Return |
Quarter |
|
|
|
|
- |
|
|
1 Year |
5 Years |
10 Years |
Vanguard Russell 3000 Index Fund Institutional Shares |
|
|
|
Return Before Taxes |
|
|
|
Return After Taxes on Distributions |
|
|
|
Return After Taxes on Distributions and Sale of Fund Shares |
|
|
|
Russell 3000 Index
(reflects no deduction for fees, expenses, or taxes) |
|
|
|
Dow Jones U.S. Total Stock Market Float Adjusted Index
(reflects no deduction for fees, expenses, or taxes) |
|
|
|
Plain Talk About Costs of Investing |
Costs are an important consideration in choosing a mutual fund. That is
because you, as a shareholder, pay a proportionate share of the costs of
operating a fund and any transaction costs incurred when the fund buys or
sells securities. These costs can erode a substantial portion of the gross
income or the capital appreciation a fund achieves. Even seemingly small
differences in expenses can, over time, have a dramatic effect on a
fund’s performance. |
Plain Talk About Vanguard’s Unique Corporate Structure |
Vanguard is owned jointly by the funds it oversees and thus indirectly by the
shareholders in those funds. Most other mutual funds are operated by
management companies that are owned by third parties—either public or
private stockholders—and not by the funds they serve. |
Plain Talk About Distributions |
As a shareholder, you are entitled to your portion of a fund’s income from
interest and dividends as well as capital gains from the fund’s sale of
investments. Income consists of both the dividends that the fund earns from
any stock holdings and the interest it receives from any money market and
bond investments. Capital gains are realized whenever the fund sells
securities for higher prices than it paid for them. These capital gains are
either short-term or long-term, depending on whether the fund held the
securities for one year or less or for more than one year. |
Plain Talk About Buying a Dividend |
Unless you are a tax-exempt investor or investing through a tax-advantaged
account (such as an IRA or an employer-sponsored retirement or savings
plan), you should consider avoiding a purchase of fund shares shortly before
the fund makes a distribution, because doing so can cost you money in
taxes. This is known as “buying a dividend.” For example: On December 15,
you invest $5,000, buying 250 shares for $20 each. If the fund pays a
distribution of $1 per share on December 16, its share price will drop to $19
(not counting market change). You still have only $5,000 (250 shares x $19 =
$4,750 in share value, plus 250 shares x $1 = $250 in distributions), but you
owe tax on the $250 distribution you received—even if you reinvest it in
more shares. To avoid buying a dividend, check a fund’s distribution schedule
before you invest. |
|
Year Ended August 31, | ||||
For a Share Outstanding Throughout Each Period |
2022 |
2021 |
2020 |
2019 |
2018 |
Net Asset Value, Beginning of Period |
$402.86 |
$307.19 |
$257.87 |
$259.33 |
$219.72 |
Investment Operations |
|
|
|
|
|
Net Investment Income1 |
5.323 |
4.689 |
4.739 |
4.499 |
4.220 |
Net Realized and Unrealized Gain (Loss) on
Investments |
(58.648) |
95.580 |
49.347 |
(1.394) |
39.578 |
Total from Investment Operations |
(53.325) |
100.269 |
54.086 |
3.105 |
43.798 |
Distributions |
|
|
|
|
|
Dividends from Net Investment Income |
(5.055) |
(4.599) |
(4.766) |
(4.565) |
(4.188) |
Distributions from Realized Capital Gains |
— |
— |
— |
— |
— |
Total Distributions |
(5.055) |
(4.599) |
(4.766) |
(4.565) |
(4.188) |
Net Asset Value, End of Period |
$344.48 |
$402.86 |
$307.19 |
$257.87 |
$259.33 |
Total Return |
-13.34% |
32.94% |
21.38% |
1.27% |
20.15% |
Ratios/Supplemental Data |
|
|
|
|
|
Net Assets, End of Period (Millions) |
$1,445 |
$1,154 |
$1,018 |
$871 |
$879 |
Ratio of Total Expenses to Average Net Assets |
0.08% |
0.08% |
0.08% |
0.08% |
0.08% |
Ratio of Net Investment Income to Average Net
Assets |
1.40% |
1.34% |
1.76% |
1.81% |
1.77% |
Portfolio Turnover Rate2 |
8% |
10% |
8% |
10% |
14% |
|
|
1 |
Calculated based on average shares outstanding. |
2 |
Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of
the fund’s capital shares, including ETF Creation Units. |
Web |
|
Vanguard.com |
For the most complete source of Vanguard news
For fund, account, and service information
For most account transactions
For literature requests
24 hours a day, 7 days a week |
Phone | |
Vanguard Tele-Account®
800-662-6273 |
For automated fund and account information
Toll-free, 24 hours a day, 7 days a week |
Investor Information 800-662-7447
(Text telephone for people with
hearing impairment at 800-749-7273) |
For fund and service information
For literature requests |
Client Services 800-662-2739
(Text telephone for people with
hearing impairment at 800-749-7273) |
For account information
For most account transactions |
Participant Services 800-523-1188
(Text telephone for people with
hearing impairment at 800-749-7273) |
For information and services for participants in
employer-sponsored plans |
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888-809-8102 |
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Sales Support 800-997-2798 |
For information and services for financial intermediaries
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Financial Advisory and Intermediary
Trading Support 800-669-0498 |
For account information and trading support for
financial intermediaries including financial advisors,
broker-dealers, trust institutions, and insurance
companies |
Vanguard Fund |
Inception
Date |
Newspaper
Abbreviation |
Vanguard
Fund
Number |
CUSIP
Number |
Vanguard Russell 3000 Index
Fund |
|
|
|
|
Institutional Shares |
11/1/2010 |
Russ3000IdxInst |
1854 |
92206C581 |
| |
Transaction Fee on Purchases and Sales |
|
Transaction Fee on Reinvested Dividends |
|
Transaction Fee on Conversion to ETF Shares |
|
| |
Management Fees |
|
12b-1 Distribution Fee |
|
Other Expenses |
|
Total Annual Fund Operating Expenses |
|
1 Year |
3 Years |
5 Years |
10 Years |
$ |
$ |
$ |
$ |
|
Total Return |
Quarter |
|
|
|
|
- |
|
|
1 Year |
5 Years |
10 Years |
Vanguard Russell 1000 Index Fund ETF Shares |
|
|
|
Based on NAV |
|
|
|
Return Before Taxes |
|
|
|
Return After Taxes on Distributions |
|
|
|
Return After Taxes on Distributions and Sale of Fund Shares |
|
|
|
Based on Market Price |
|
|
|
Return Before Taxes |
|
|
|
Russell 1000 Index
(reflects no deduction for fees, expenses, or taxes) |
|
|
|
Dow Jones U.S. Total Stock Market Float Adjusted Index
(reflects no deduction for fees, expenses, or taxes) |
|
|
|
| |
Transaction Fee on Purchases and Sales |
|
Transaction Fee on Reinvested Dividends |
|
Transaction Fee on Conversion to ETF Shares |
|
| |
Management Fees |
|
12b-1 Distribution Fee |
|
Other Expenses |
|
Total Annual Fund Operating Expenses |
|
1 Year |
3 Years |
5 Years |
10 Years |
$ |
$ |
$ |
$ |
|
Total Return |
Quarter |
|
|
|
|
- |
|
|
1 Year |
5 Years |
10 Years |
Vanguard Russell 1000 Value Index Fund ETF Shares |
|
|
|
Based on NAV |
|
|
|
Return Before Taxes |
|
|
|
Return After Taxes on Distributions |
|
|
|
Return After Taxes on Distributions and Sale of Fund Shares |
|
|
|
Based on Market Price |
|
|
|
Return Before Taxes |
|
|
|
Russell 1000 Value Index
(reflects no deduction for fees, expenses, or taxes) |
|
|
|
Dow Jones U.S. Total Stock Market Float Adjusted Index
(reflects no deduction for fees, expenses, or taxes) |
|
|
|
| |
Transaction Fee on Purchases and Sales |
|
Transaction Fee on Reinvested Dividends |
|
Transaction Fee on Conversion to ETF Shares |
|
| |
Management Fees |
|
12b-1 Distribution Fee |
|
Other Expenses |
|
Total Annual Fund Operating Expenses |
|
1 Year |
3 Years |
5 Years |
10 Years |
$ |
$ |
$ |
$ |
|
Total Return |
Quarter |
|
|
|
|
- |
|
|
1 Year |
5 Years |
10 Years |
Vanguard Russell 1000 Growth Index Fund ETF Shares |
|
|
|
Based on NAV |
|
|
|
Return Before Taxes |
|
|
|
Return After Taxes on Distributions |
|
|
|
Return After Taxes on Distributions and Sale of Fund Shares |
|
|
|
Based on Market Price |
|
|
|
Return Before Taxes |
|
|
|
Russell 1000 Growth Index
(reflects no deduction for fees, expenses, or taxes) |
|
|
|
Dow Jones U.S. Total Stock Market Float Adjusted Index
(reflects no deduction for fees, expenses, or taxes) |
|
|
|
| |
Transaction Fee on Purchases and Sales |
|
Transaction Fee on Reinvested Dividends |
|
Transaction Fee on Conversion to ETF Shares |
|
| |
Management Fees |
|
12b-1 Distribution Fee |
|
Other Expenses |
|
Total Annual Fund Operating Expenses |
|
1 Year |
3 Years |
5 Years |
10 Years |
$ |
$ |
$ |
$ |
|
Total Return |
Quarter |
|
|
|
|
- |
|
|
1 Year |
5 Years |
10 Years |
Vanguard Russell 2000 Index Fund ETF Shares |
|
|
|
Based on NAV |
|
|
|
Return Before Taxes |
|
|
|
Return After Taxes on Distributions |
|
|
|
Return After Taxes on Distributions and Sale of Fund Shares |
|
|
|
Based on Market Price |
|
|
|
Return Before Taxes |
|
|
|
Russell 2000 Index
(reflects no deduction for fees, expenses, or taxes) |
|
|
|
Dow Jones U.S. Total Stock Market Float Adjusted Index
(reflects no deduction for fees, expenses, or taxes) |
|
|
|
| |
Transaction Fee on Purchases and Sales |
|
Transaction Fee on Reinvested Dividends |
|
Transaction Fee on Conversion to ETF Shares |
|
| |
Management Fees |
|
12b-1 Distribution Fee |
|
Other Expenses |
|
Total Annual Fund Operating Expenses |
|
1 Year |
3 Years |
5 Years |
10 Years |
$ |
$ |
$ |
$ |
|
Total Return |
Quarter |
|
|
|
|
- |
|
|
1 Year |
5 Years |
10 Years |
Vanguard Russell 2000 Value Index Fund ETF Shares |
|
|
|
Based on NAV |
|
|
|
Return Before Taxes |
|
|
|
Return After Taxes on Distributions |
|
|
|
Return After Taxes on Distributions and Sale of Fund Shares |
|
|
|
Based on Market Price |
|
|
|
Return Before Taxes |
|
|
|
Russell 2000 Value Index
(reflects no deduction for fees, expenses, or taxes) |
|
|
|
Dow Jones U.S. Total Stock Market Float Adjusted Index
(reflects no deduction for fees, expenses, or taxes) |
|
|
|
| |
Transaction Fee on Purchases and Sales |
|
Transaction Fee on Reinvested Dividends |
|
Transaction Fee on Conversion to ETF Shares |
|
| |
Management Fees |
|
12b-1 Distribution Fee |
|
Other Expenses |
|
Total Annual Fund Operating Expenses |
|
1 Year |
3 Years |
5 Years |
10 Years |
$ |
$ |
$ |
$ |
|
Total Return |
Quarter |
|
|
|
|
- |
|
|
1 Year |
5 Years |
10 Years |
Vanguard Russell 2000 Growth Index Fund ETF Shares |
|
|
|
Based on NAV |
|
|
|
Return Before Taxes |
|
|
|
Return After Taxes on Distributions |
|
|
|
Return After Taxes on Distributions and Sale of Fund Shares |
|
|
|
Based on Market Price |
|
|
|
Return Before Taxes |
|
|
|
Russell 2000 Growth Index
(reflects no deduction for fees, expenses, or taxes) |
|
|
|
Dow Jones U.S. Total Stock Market Float Adjusted Index
(reflects no deduction for fees, expenses, or taxes) |
|
|
|
| |
Transaction Fee on Purchases and Sales |
|
Transaction Fee on Reinvested Dividends |
|
Transaction Fee on Conversion to ETF Shares |
|
| |
Management Fees |
|
12b-1 Distribution Fee |
|
Other Expenses |
|
Total Annual Fund Operating Expenses |
|
1 Year |
3 Years |
5 Years |
10 Years |
$ |
$ |
$ |
$ |
|
Total Return |
Quarter |
|
|
|
|
- |
|
|
1 Year |
5 Years |
10 Years |
Vanguard Russell 3000 Index Fund ETF Shares |
|
|
|
Based on NAV |
|
|
|
Return Before Taxes |
|
|
|
Return After Taxes on Distributions |
|
|
|
Return After Taxes on Distributions and Sale of Fund Shares |
|
|
|
Based on Market Price |
|
|
|
Return Before Taxes |
|
|
|
Russell 3000 Index
(reflects no deduction for fees, expenses, or taxes) |
|
|
|
Dow Jones U.S. Total Stock Market Float Adjusted Index
(reflects no deduction for fees, expenses, or taxes) |
|
|
|
Vanguard Fund |
Vanguard ETF Shares |
Seeks to Track |
Vanguard Russell 1000 Index Fund |
Russell 1000 ETF |
Large-cap stocks |
Vanguard Russell 1000 Value Index Fund |
Russell 1000 Value ETF |
Large-cap value stocks |
Vanguard Russell 1000 Growth Index Fund |
Russell 1000 Growth ETF |
Large-cap growth stocks |
Vanguard Russell 2000 Index Fund |
Russell 2000 ETF |
Small-cap stocks |
Vanguard Russell 2000 Value Index Fund |
Russell 2000 Value ETF |
Small-cap value stocks |
Vanguard Russell 2000 Growth Index Fund |
Russell 2000 Growth ETF |
Small-cap growth stocks |
Vanguard Russell 3000 Index Fund |
Russell 3000 ETF |
The broad stock market |
Plain Talk About Costs of Investing |
Costs are an important consideration in choosing an ETF. That is because
you, as a shareholder, pay a proportionate share of the costs of operating a
fund and any transaction costs incurred when the fund buys or sells
securities. These costs can erode a substantial portion of the gross income
or the capital appreciation a fund achieves. Even seemingly small differences
in expenses can, over time, have a dramatic effect on a fund’s performance. |
Vanguard Fund |
Asset-Weighted Median
Market Capitalization |
Vanguard Russell 1000 Index Fund |
$129 billion |
Vanguard Russell 1000 Value Index Fund |
73 |
Vanguard Russell 1000 Growth Index Fund |
267 |
Vanguard Russell 2000 Index Fund |
2.5 |
Vanguard Russell 2000 Value Index Fund |
2.0 |
Vanguard Russell 2000 Growth Index Fund |
2.9 |
Vanguard Russell 3000 Index Fund |
116 |
Plain Talk About Growth Funds and Value Funds |
Growth investing and value investing are two styles employed by stock-fund
managers. Growth funds generally invest in stocks of companies believed to
have above-average potential for growth in revenue, earnings, cash flow, or
other similar criteria. These stocks typically have low dividend yields, if any,
and above-average prices in relation to measures such as earnings and book
value. Value funds typically invest in stocks whose prices are below average
in relation to those measures; these stocks often have above-average
dividend yields. Value stocks also may remain undervalued by the market for
long periods of time. Growth and value stocks have historically produced
similar long-term returns, though each category has periods when it
outperforms the other. |
Plain Talk About Vanguard’s Unique Corporate Structure |
Vanguard is owned jointly by the funds it oversees and thus indirectly by the
shareholders in those funds. Most other mutual funds are operated by
management companies that are owned by third parties—either public or
private stockholders—and not by the funds they serve. |
Plain Talk About Distributions |
As a shareholder, you are entitled to your portion of a fund’s income from
interest and dividends as well as capital gains from the fund’s sale of
investments. Income consists of both the dividends that the fund earns from
any stock holdings and the interest it receives from any money market and
bond investments. Capital gains are realized whenever the fund sells
securities for higher prices than it paid for them. These capital gains are
either short-term or long-term, depending on whether the fund held the
securities for one year or less or for more than one year. |
Vanguard Fund |
Inception
Date |
Vanguard
Fund
Number |
CUSIP
Number |
Vanguard Russell 1000 Index Fund |
|
|
|
ETF Shares |
9/20/2010 |
3348 |
92206C730 |
Vanguard Russell 1000 Value Index Fund |
|
|
|
ETF Shares |
9/20/2010 |
3349 |
92206C714 |
Vanguard Russell 1000 Growth Index Fund |
|
|
|
ETF Shares |
9/20/2010 |
3350 |
92206C680 |
Vanguard Russell 2000 Index Fund |
|
|
|
ETF Shares |
9/20/2010 |
3351 |
92206C664 |
Vanguard Russell 2000 Value Index Fund |
|
|
|
ETF Shares |
9/20/2010 |
3352 |
92206C649 |
Vanguard Russell 2000 Growth Index Fund |
|
|
|
ETF Shares |
9/20/2010 |
3353 |
92206C623 |
Vanguard Russell 3000 Index Fund |
|
|
|
ETF Shares |
9/20/2010 |
3354 |
92206C599 |
|
Year Ended August 31, | ||||
For a Share Outstanding Throughout Each Period |
2022 |
2021 |
2020 |
2019 |
2018 |
Net Asset Value, Beginning of Period |
$210.32 |
$161.36 |
$134.37 |
$133.57 |
$113.60 |
Investment Operations |
|
|
|
|
|
Net Investment Income1 |
2.757 |
2.459 |
2.525 |
2.395 |
2.209 |
Net Realized and Unrealized Gain (Loss) on
Investments |
(29.909) |
48.925 |
27.028 |
.759 |
19.896 |
Total from Investment Operations |
(27.152) |
51.384 |
29.553 |
3.154 |
22.105 |
Distributions |
|
|
|
|
|
Dividends from Net Investment Income |
(2.698) |
(2.424) |
(2.563) |
(2.354) |
(2.135) |
Distributions from Realized Capital Gains |
— |
— |
— |
— |
— |
Total Distributions |
(2.698) |
(2.424) |
(2.563) |
(2.354) |
(2.135) |
Net Asset Value, End of Period |
$180.47 |
$210.32 |
$161.36 |
$134.37 |
$133.57 |
Total Return |
-13.02% |
32.14% |
22.39% |
2.45% |
19.68% |
Ratios/Supplemental Data |
|
|
|
|
|
Net Assets, End of Period (Millions) |
$2,721 |
$2,682 |
$1,678 |
$1,196 |
$1,008 |
Ratio of Total Expenses to Average Net Assets |
0.08% |
0.08% |
0.08% |
0.08% |
0.12% |
Ratio of Net Investment Income to Average Net
Assets |
1.39% |
1.34% |
1.79% |
1.85% |
1.78% |
Portfolio Turnover Rate2 |
10% |
6% |
9% |
6% |
9% |
|
|
1 |
Calculated based on average shares outstanding. |
2 |
Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of
the fund’s capital shares, including ETF Creation Units. |
|
Year Ended August 31, | ||||
For a Share Outstanding Throughout Each Period |
2022 |
20211
|
20201
|
20191
|
20181 |
Net Asset Value, Beginning of Period |
$71.54 |
$53.52 |
$54.61 |
$55.60 |
$50.66 |
Investment Operations |
|
|
|
|
|
Net Investment Income2 |
1.415 |
1.282 |
1.408 |
1.357 |
1.261 |
Net Realized and Unrealized Gain (Loss) on Investments |
(5.875) |
17.932 |
(1.056) |
(1.054) |
4.918 |
Total from Investment Operations |
(4.460) |
19.214 |
.352 |
.303 |
6.179 |
Distributions |
|
|
|
|
|
Dividends from Net Investment Income |
(1.380) |
(1.194) |
(1.442) |
(1.293) |
(1.239) |
Distributions from Realized Capital Gains |
— |
— |
— |
— |
— |
Total Distributions |
(1.380) |
(1.194) |
(1.442) |
(1.293) |
(1.239) |
Net Asset Value, End of Period |
$65.70 |
$71.54 |
$53.52 |
$54.61 |
$55.60 |
Total Return |
-6.32% |
36.32% |
0.75% |
0.60% |
12.36% |
Ratios/Supplemental Data |
|
|
|
|
|
Net Assets, End of Period (Millions) |
$5,980 |
$6,569 |
$2,646 |
$1,914 |
$1,487 |
Ratio of Total Expenses to Average Net Assets |
0.08% |
0.08% |
0.08% |
0.08% |
0.12% |
Ratio of Net Investment Income to Average Net Assets |
2.02% |
1.99% |
2.65% |
2.51% |
2.35% |
Portfolio Turnover Rate3 |
14% |
19% |
24% |
17% |
16% |
|
|
1 |
Adjusted to reflect a 2-for-1 share split effective at the beginning of trading on April 20, 2021. |
2 |
Calculated based on average shares outstanding. |
3 |
Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of
the fund’s capital shares, including ETF Creation Units. |
|
Year Ended August 31, | ||||
For a Share Outstanding Throughout Each Period |
2022 |
20211
|
20201
|
20191
|
20181 |
Net Asset Value, Beginning of Period |
$74.77 |
$58.66 |
$41.14 |
$39.89 |
$31.77 |
Investment Operations |
|
|
|
|
|
Net Investment Income2 |
.523 |
.460 |
.475 |
.481 |
.441 |
Net Realized and Unrealized Gain (Loss) on Investments |
(14.754) |
16.099 |
17.530 |
1.177 |
8.096 |
Total from Investment Operations |
(14.231) |
16.559 |
18.005 |
1.658 |
8.537 |
Distributions |
|
|
|
|
|
Dividends from Net Investment Income |
(.489) |
(.449) |
(.485) |
(.408) |
(.417) |
Distributions from Realized Capital Gains |
— |
— |
— |
— |
— |
Total Distributions |
(.489) |
(.449) |
(.485) |
(.408) |
(.417) |
Net Asset Value, End of Period |
$60.05 |
$74.77 |
$58.66 |
$41.14 |
$39.89 |
Total Return |
-19.11% |
28.40% |
44.18% |
4.20% |
27.09% |
Ratios/Supplemental Data |
|
|
|
|
|
Net Assets, End of Period (Millions) |
$7,311 |
$7,455 |
$4,951 |
$2,872 |
$2,083 |
Ratio of Total Expenses to Average Net Assets |
0.08% |
0.08% |
0.08% |
0.08% |
0.12% |
Ratio of Net Investment Income to Average Net Assets |
0.77% |
0.72% |
1.04% |
1.25% |
1.24% |
Portfolio Turnover Rate3 |
13% |
14% |
14% |
17% |
15% |
|
|
1 |
Adjusted to reflect a 4-for-1 share split effective at the beginning of trading on April 20, 2021. |
2 |
Calculated based on average shares outstanding. |
3 |
Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of
the fund’s capital shares, including ETF Creation Units. |
|
Year Ended August 31, | ||||
For a Share Outstanding Throughout Each Period |
2022 |
20211
|
20201
|
20191
|
20181 |
Net Asset Value, Beginning of Period |
$91.28 |
$62.69 |
$59.88 |
$69.56 |
$56.11 |
Investment Operations |
|
|
|
|
|
Net Investment Income2 |
1.030 |
.865 |
.810 |
.797 |
.777 |
Net Realized and Unrealized Gain (Loss) on Investments |
(17.254) |
28.550 |
2.815 |
(9.704) |
13.423 |
Total from Investment Operations |
(16.224) |
29.415 |
3.625 |
(8.907) |
14.200 |
Distributions |
|
|
|
|
|
Dividends from Net Investment Income |
(1.036) |
(.825) |
(.815) |
(.773) |
(.750) |
Distributions from Realized Capital Gains |
— |
— |
— |
— |
— |
Total Distributions |
(1.036) |
(.825) |
(.815) |
(.773) |
(.750) |
Net Asset Value, End of Period |
$74.02 |
$91.28 |
$62.69 |
$59.88 |
$69.56 |
Total Return |
-17.88% |
47.15% |
6.12% |
-12.83% |
25.49% |
Ratios/Supplemental Data |
|
|
|
|
|
Net Assets, End of Period (Millions) |
$5,255 |
$6,223 |
$1,802 |
$1,464 |
$1,715 |
Ratio of Total Expenses to Average Net Assets |
0.10%3 |
0.10% |
0.10% |
0.10% |
0.15% |
Ratio of Net Investment Income to Average Net Assets |
1.26% |
1.02% |
1.37% |
1.30% |
1.23% |
Portfolio Turnover Rate4 |
19% |
23% |
19% |
16% |
19% |
|
|
1 |
Adjusted to reflect a 2-for-1 share split effective at the beginning of trading on April 20, 2021. |
2 |
Calculated based on average shares outstanding. |
3 |
The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements
was 0.10%. |
4 |
Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of
the fund’s capital shares, including ETF Creation Units. |
|
Year Ended August 31, | ||||
For a Share Outstanding Throughout Each Period |
2022 |
2021 |
2020 |
2019 |
2018 |
Net Asset Value, Beginning of Period |
$143.88 |
$91.76 |
$99.51 |
$119.05 |
$100.96 |
Investment Operations |
|
|
|
|
|
Net Investment Income1 |
2.353 |
1.998 |
1.868 |
1.912 |
1.905 |
Net Realized and Unrealized Gain (Loss) on
Investments |
(16.986) |
51.982 |
(7.771) |
(19.589) |
18.070 |
Total from Investment Operations |
(14.633) |
53.980 |
(5.903) |
(17.677) |
19.975 |
Distributions |
|
|
|
|
|
Dividends from Net Investment Income |
(2.477) |
(1.860) |
(1.847) |
(1.863) |
(1.885) |
Distributions from Realized Capital Gains |
— |
— |
— |
— |
— |
Total Distributions |
(2.477) |
(1.860) |
(1.847) |
(1.863) |
(1.885) |
Net Asset Value, End of Period |
$126.77 |
$143.88 |
$91.76 |
$99.51 |
$119.05 |
Total Return |
-10.28% |
59.34% |
-6.05% |
-14.93% |
19.96% |
Ratios/Supplemental Data |
|
|
|
|
|
Net Assets, End of Period (Millions) |
$837 |
$1,036 |
$303 |
$251 |
$223 |
Ratio of Total Expenses to Average Net Assets |
0.15% |
0.15% |
0.15% |
0.15% |
0.20% |
Ratio of Net Investment Income to Average Net
Assets |
1.71% |
1.52% |
1.99% |
1.83% |
1.73% |
Portfolio Turnover Rate2 |
28% |
45% |
38% |
27% |
30% |
|
|
1 |
Calculated based on average shares outstanding. |
2 |
Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of
the fund’s capital shares, including ETF Creation Units. |
|
Year Ended August 31, | ||||
For a Share Outstanding Throughout Each Period |
2022 |
2021 |
2020 |
2019 |
2018 |
Net Asset Value, Beginning of Period |
$222.64 |
$164.83 |
$141.63 |
$160.12 |
$123.26 |
Investment Operations |
|
|
|
|
|
Net Investment Income1 |
1.137 |
.839 |
1.097 |
.971 |
.895 |
Net Realized and Unrealized Gain (Loss) on
Investments |
(57.266) |
57.852 |
23.237 |
(18.527) |
36.791 |
Total from Investment Operations |
(56.129) |
58.691 |
24.334 |
(17.556) |
37.686 |
Distributions |
|
|
|
|
|
Dividends from Net Investment Income |
(1.061) |
(.881) |
(1.134) |
(.934) |
(.826) |
Distributions from Realized Capital Gains |
— |
— |
— |
— |
— |
Total Distributions |
(1.061) |
(.881) |
(1.134) |
(.934) |
(.826) |
Net Asset Value, End of Period |
$165.45 |
$222.64 |
$164.83 |
$141.63 |
$160.12 |
Total Return |
-25.28% |
35.67% |
17.32% |
-10.97% |
30.69% |
Ratios/Supplemental Data |
|
|
|
|
|
Net Assets, End of Period (Millions) |
$658 |
$735 |
$371 |
$301 |
$328 |
Ratio of Total Expenses to Average Net Assets |
0.15% |
0.15% |
0.15% |
0.15% |
0.20% |
Ratio of Net Investment Income to Average Net
Assets |
0.61% |
0.40% |
0.75% |
0.68% |
0.64% |
Portfolio Turnover Rate2 |
33% |
47% |
38% |
28% |
35% |
|
|
1 |
Calculated based on average shares outstanding. |
2 |
Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of
the fund’s capital shares, including ETF Creation Units. |
|
Year Ended August 31, | ||||
For a Share Outstanding Throughout Each Period |
2022 |
2021 |
2020 |
2019 |
2018 |
Net Asset Value, Beginning of Period |
$208.13 |
$158.71 |
$133.26 |
$133.98 |
$113.52 |
Investment Operations |
|
|
|
|
|
Net Investment Income1 |
2.662 |
2.385 |
2.416 |
2.312 |
2.099 |
Net Realized and Unrealized Gain (Loss) on
Investments |
(30.247) |
49.386 |
25.494 |
(.730) |
20.442 |
Total from Investment Operations |
(27.585) |
51.771 |
27.910 |
1.582 |
22.541 |
Distributions |
|
|
|
|
|
Dividends from Net Investment Income |
(2.575) |
(2.351) |
(2.460) |
(2.302) |
(2.081) |
Distributions from Realized Capital Gains |
— |
— |
— |
— |
— |
Total Distributions |
(2.575) |
(2.351) |
(2.460) |
(2.302) |
(2.081) |
Net Asset Value, End of Period |
$177.97 |
$208.13 |
$158.71 |
$133.26 |
$133.98 |
Total Return |
-13.36% |
32.90% |
21.31% |
1.25% |
20.07% |
Ratios/Supplemental Data |
|
|
|
|
|
Net Assets, End of Period (Millions) |
$1,219 |
$1,124 |
$710 |
$463 |
$412 |
Ratio of Total Expenses to Average Net Assets |
0.10% |
0.10% |
0.10% |
0.10% |
0.15% |
Ratio of Net Investment Income to Average Net
Assets |
1.36% |
1.31% |
1.74% |
1.79% |
1.70% |
Portfolio Turnover Rate2 |
8% |
10% |
8% |
10% |
14% |
|
|
1 |
Calculated based on average shares outstanding. |
2 |
Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of
the fund’s capital shares, including ETF Creation Units. |
| |
Transaction Fee on Purchases and Sales |
|
Transaction Fee on Reinvested Dividends |
|
| |
Management Fees |
|
12b-1 Distribution Fee |
|
Other Expenses |
|
Acquired Fund Fees and Expenses |
|
Total Annual Fund Operating Expenses |
|
1 Year |
3 Years |
5 Years |
10 Years |
$ |
$ |
$ |
$ |
|
Total Return |
Quarter |
|
|
|
|
- |
|
|
1 Year |
Since
Fund
Inception |
Fund
Inception
Date |
Vanguard Total World Bond ETF Shares |
|
|
|
Based on NAV |
|
|
|
Return Before Taxes |
- |
|
|
Return After Taxes on Distributions |
- |
|
|
Return After Taxes on Distributions and Sale of Fund Shares |
- |
|
|
Based on Market Price |
|
|
|
Return Before Taxes |
- |
|
|
Bloomberg Global Aggregate Float Adjusted Composite
Index
(reflects no deduction for fees, expenses, or taxes) |
- |
|
|
Bloomberg Global Aggregate Float Adjusted Index in
USD
(reflects no deduction for fees, expenses, or taxes) |
- |
|
|
Plain Talk About Fund Expenses |
All funds have operating expenses. These expenses, which are deducted
from a fund’s gross income, are expressed as a percentage of the net assets
of the fund. Assuming that operating expenses remain as stated in the Fees
and Expenses section, Vanguard Total World Bond ETF Shares’ expense ratio
would be 0.05%, or $0.50 per $1,000 of average net assets. The average
expense ratio for global income funds in 2021 was 0.86%, or $8.60 per
$1,000 of average net assets (derived from data provided by Lipper, a
Thomson Reuters Company, which reports on the fund industry). |
Plain Talk About Costs of Investing |
Costs are an important consideration in choosing an ETF. That is because
you, as a shareholder, pay a proportionate share of the costs of operating a
fund and any transaction costs incurred when the fund buys or sells
securities. These costs can erode a substantial portion of the gross income
or the capital appreciation a fund achieves. Even seemingly small differences
in expenses can, over time, have a dramatic effect on a fund’s performance. |
Type of Bond (Maturity) |
After a 1%
Increase |
After a 1%
Decrease |
After a 2%
Increase |
After a 2%
Decrease |
Short-Term (2.5 years) |
$977 |
$1,024 |
$954 |
$1,049 |
Intermediate-Term (10 years) |
922 |
1,086 |
851 |
1,180 |
Long-Term (20 years) |
874 |
1,150 |
769 |
1,328 |
Plain Talk About Bonds and Interest Rates |
As a rule, when interest rates rise, bond prices fall. The opposite is also true:
Bond prices go up when interest rates fall. Why do bond prices and interest
rates move in opposite directions? Let’s assume that you hold a bond
offering a 4% yield. A year later, interest rates are on the rise and bonds of
comparable quality and maturity are offered with a 5% yield. With
higher-yielding bonds available, you would have trouble selling your 4% bond
for the price you paid—you would probably have to lower your asking price.
On the other hand, if interest rates were falling and 3% bonds were being
offered, you should be able to sell your 4% bond for more than you paid. |
How mortgage-backed securities are different: In general, declining interest
rates will not lift the prices of mortgage-backed securities—such as those
guaranteed by the Government National Mortgage Association—as much as
the prices of comparable bonds. Why? Because when interest rates fall, the
bond market tends to discount the prices of mortgage-backed securities for
prepayment risk—the possibility that homeowners will refinance their
mortgages at lower rates and cause the bonds to be paid off prior to
maturity. In part to compensate for this prepayment possibility,
mortgage-backed securities tend to offer higher yields than other bonds of
comparable credit quality and maturity. In contrast, when interest rates rise,
prepayments tend to slow down, subjecting mortgage-backed securities to
extension risk—the possibility that homeowners will repay their mortgages
at slower rates. This will lengthen the duration or average life of
mortgage-backed securities held by a fund and delay the fund’s ability to
reinvest proceeds at higher interest rates, making the fund more sensitive to
changes in interest rates. |
Plain Talk About Bond Maturities |
A bond is issued with a specific maturity date—the date when the issuer
must pay back the bond’s principal (face value). Bond maturities range from
less than 1 year to more than 30 years. Typically, the longer a bond’s maturity,
the more price risk you, as a bond investor, will face as interest rates
rise—but also the higher the potential yield you could receive. Longer-term
bonds are generally more suitable for investors willing to take a greater risk
of price fluctuations to get higher and more stable interest income.
Shorter-term bond investors should be willing to accept lower yields and
greater income variability in return for less fluctuation in the value of their
investment. The stated maturity of a bond may differ from the effective
maturity of a bond, which takes into consideration that an action such as a
call or refunding may cause bonds to be repaid before their stated
maturity dates. |
Plain Talk About Credit Quality |
A bond’s credit quality rating is an assessment of the issuer’s ability to pay
interest on the bond and, ultimately, to repay the principal. The lower the
credit quality, the greater the perceived chance that the bond issuer will
default, or fail to meet its payment obligations. All things being equal, the
lower a bond’s credit quality, the higher its yield should be to compensate
investors for assuming additional risk. |
Plain Talk About International Investing |
U.S. investors who invest in foreign securities will encounter risks not
typically associated with U.S. companies because foreign stock and bond
markets operate differently from the U.S. markets. For instance, foreign
companies and governments may not be subject to the same or similar
auditing, legal, tax, regulatory, financial reporting, accounting, and
recordkeeping standards and practices as U.S. companies and the U.S.
government, and their stocks and bonds may not be as liquid as those of
similar U.S. entities. In addition, foreign stock exchanges, brokers,
companies, bond markets, and dealers may be subject to less government
supervision and regulation than their counterparts in the United States.
Further, the imposition of economic or other sanctions on the United States
by a foreign country, or on a foreign country or issuer by the United States,
could impair a fund's ability to buy, sell, hold, receive, deliver, or otherwise
transact in certain investment securities or obtain exposure to foreign
securities and assets. These factors, among others, could negatively affect
the returns U.S. investors receive from foreign investments. |
Plain Talk About U.S. Government-Sponsored Enterprises |
A variety of U.S. government-sponsored enterprises (GSEs), such as the
Federal Home Loan Mortgage Corporation (FHLMC), the Federal National
Mortgage Association (FNMA), and the Federal Home Loan Banks (FHLBs),
issue debt and mortgage-backed securities. Although GSEs may be chartered
or sponsored by acts of Congress, they are not funded by congressional
appropriations. In September of 2008, the U.S. Treasury placed FNMA and
FHLMC under conservatorship and appointed the Federal Housing Finance
Agency (FHFA) to manage their daily operations. In addition, the U.S. Treasury
entered into purchase agreements with FNMA and FHLMC to provide them
with capital in exchange for senior preferred stock. Generally, a GSE’s
securities are neither issued nor guaranteed by the U.S. Treasury and are not
backed by the full faith and credit of the U.S. government. In most cases,
these securities are supported only by the credit of the GSE, standing alone. In
some cases, a GSE’s securities may be supported by the ability of the GSE to
borrow from the U.S. Treasury or may be supported by the U.S. government in
some other way. Securities issued by the Government National Mortgage
Association (GNMA), however, are backed by the full faith and credit of the
U.S. government. |
Plain Talk About Derivatives |
Derivatives can take many forms. Some forms of derivatives—such as
exchange-traded futures and options on securities, commodities, or
indexes—have been trading on regulated exchanges for decades. These
types of derivatives are standardized contracts that can easily be bought and
sold and whose market values are determined and published daily. On the
other hand, non-exchange-traded derivatives—such as certain swap
agreements and foreign currency exchange forward contracts—tend to be
more specialized or complex and may be more difficult to accurately value. |
Plain Talk About Vanguard’s Unique Corporate Structure |
Vanguard is owned jointly by the funds it oversees and thus indirectly by the
shareholders in those funds. Most other mutual funds are operated by
management companies that are owned by third parties—either public or
private stockholders—and not by the funds they serve. |
Plain Talk About Distributions |
As a shareholder, you are entitled to your portion of a fund’s income from
interest as well as capital gains from the fund’s sale of investments. Income
consists of interest the fund earns from its money market and bond
investments. Capital gains are realized whenever the fund sells securities for
higher prices than it paid for them. These capital gains are either short-term
or long-term, depending on whether the fund held the securities for one year
or less or for more than one year. |
Vanguard Fund |
Inception Date |
Vanguard Fund Number |
CUSIP Number |
Vanguard Total World Bond
ETF |
9/4/2018 |
3061 |
92206C565 |
|
Year Ended August 31, |
September 4,
20181 to
August 31, | ||
For a Share Outstanding Throughout Each Period |
2022 |
2021 |
2020 |
2019 |
Net Asset Value, Beginning of Period |
$80.76 |
$81.56 |
$80.97 |
$75.00 |
Investment Operations |
|
|
|
|
Net Investment Income2 |
1.912 |
1.108 |
2.125 |
2.004 |
Capital Gain Distributions Received2 |
.327 |
.146 |
— |
— |
Net Realized and Unrealized Gain (Loss) on Investments |
(11.356) |
(.929) |
.782 |
6.071 |
Total from Investment Operations |
(9.117) |
.325 |
2.907 |
8.075 |
Distributions |
|
|
|
|
Dividends from Net Investment Income |
(1.984) |
(1.125) |
(2.317) |
(2.105) |
Distributions from Realized Capital Gains |
(.079) |
— |
— |
— |
Total Distributions |
(2.063) |
(1.125) |
(2.317) |
(2.105) |
Net Asset Value, End of Period |
$69.58 |
$80.76 |
$81.56 |
$80.97 |
Total Return |
-11.51% |
0.40% |
3.69% |
11.00% |
Ratios/Supplemental Data |
|
|
|
|
Net Assets, End of Period (Millions) |
$570 |
$581 |
$448 |
$160 |
Ratio of Total Expenses to Average Net Assets |
— |
— |
— |
—3 |
Acquired Fund Fees and Expenses |
0.05% |
0.06% |
0.06% |
0.06%3 |
Ratio of Net Investment Income to Average Net Assets |
2.55% |
1.37% |
2.64% |
2.62%3 |
Portfolio Turnover Rate4 |
13% |
10% |
19% |
8% |
|
|
1 |
Inception. |
2 |
Calculated based on average shares outstanding. |
3 |
Annualized. |
4 |
Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of
the fund’s capital shares. |
B-1 | |
B-4 | |
B-5 | |
B-34 | |
B-34 | |
B-36 | |
B-62 | |
B-71 | |
B-74 | |
B-75 | |
B-97 | |
B-97 | |
B-99 | |
B-102 |
|
Share Classes1
| |||
Vanguard Fund2
|
Investor |
Admiral |
Institutional |
ETF |
Vanguard Explorer ValueTM Fund |
VEVFX |
— |
— |
— |
Vanguard Short-Term Treasury Index Fund |
— |
VSBSX |
VSBIX |
VGSH |
Vanguard Intermediate-Term Treasury Index Fund |
— |
VSIGX |
VIIGX |
VGIT |
Vanguard Long-Term Treasury Index Fund |
— |
VLGSX |
VLGIX |
VGLT |
Vanguard Short-Term Corporate Bond Index Fund |
— |
VSCSX |
VSTBX |
VCSH |
Vanguard Intermediate-Term Corporate Bond Index Fund |
— |
VICSX |
VICBX |
VCIT |
Vanguard Long-Term Corporate Bond Index Fund |
— |
VLTCX |
VLCIX |
VCLT |
Vanguard Mortgage-Backed Securities Index Fund |
— |
VMBSX |
VMBIX |
VMBS |
Vanguard Total Corporate Bond ETF |
— |
— |
— |
VTC |
Vanguard Russell 1000 Index Fund |
— |
— |
VRNIX |
VONE |
Vanguard Russell 1000 Value Index Fund |
— |
— |
VRVIX |
VONV |
Vanguard Russell 1000 Growth Index Fund |
— |
— |
VRGWX |
VONG |
Vanguard Russell 2000 Index Fund |
— |
— |
VRTIX |
VTWO |
Vanguard Russell 2000 Value Index Fund |
— |
— |
VRTVX |
VTWV |
Vanguard Russell 2000 Growth Index Fund |
— |
— |
VRTGX |
VTWG |
Vanguard Russell 3000 Index Fund |
— |
— |
VRTTX |
VTHR |
Vanguard Total World Bond ETF |
— |
— |
— |
BNDW |
Vanguard Fund |
2020 |
2021 |
2022 |
Vanguard Explorer Value Fund |
$— |
$16,125.03 |
$21,500.04 |
Vanguard Intermediate-Term Corporate Bond Index Fund |
— |
14,166.61 |
16,999.93 |
Vanguard Intermediate-Term Treasury Index Fund |
— |
14,166.65 |
16,999.93 |
Vanguard Long-Term Corporate Bond Index Fund |
— |
14,166.59 |
16,999.92 |
Vanguard Long-Term Treasury Index Fund |
— |
14,166.60 |
16,999.91 |
Vanguard Mortage-Backed Securities Index Fund |
— |
14,166.61 |
16,999.95 |
Vanguard Russell 1000 Growth Index Fund |
— |
16,125.03 |
21,500.04 |
Vanguard Russell 1000 Index Fund |
— |
16,125.03 |
21,500.04 |
Vanguard Russell 1000 Value Index Fund |
— |
16,125.03 |
21,500.04 |
Vanguard Russell 2000 Growth Index Fund |
— |
16,125.03 |
21,500.04 |
Vanguard Russell 2000 Index Fund |
— |
16,125.03 |
21,500.04 |
Vanguard Russell 2000 Value Index Fund |
— |
16,125.03 |
21,500.04 |
Vanguard Russell 3000 Index Fund |
— |
16,125.03 |
21,500.04 |
Vanguard Short-Term Corporate Bond Index Fund |
— |
14,166.56 |
16,999.92 |
Vanguard Short-Term Treasury Index Fund |
— |
14,166.62 |
16,999.92 |
Vanguard Total Corporate Bond ETF |
— |
14,166.60 |
16,999.92 |
Vanguard Total World Bond ETF |
— |
14,166.60 |
16,999.92 |
Vanguard Fund |
Capital
Contribution to
Vanguard |
Percentage of
Fund’s
Average
Net Assets |
Percent of
Vanguard Funds’
Contribution |
Vanguard Explorer Value Fund |
$41,000 |
Less than 0.01% |
0.02% |
Vanguard Short-Term Treasury Index Fund |
658,000 |
Less than 0.01 |
0.26 |
Vanguard Intermediate-Term Treasury Index Fund |
533,000 |
Less than 0.01 |
0.21 |
Vanguard Long-Term Treasury Index Fund |
298,000 |
Less than 0.01 |
0.12 |
Vanguard Short-Term Corporate Bond Index Fund |
1,759,000 |
Less than 0.01 |
0.70 |
Vanguard Intermediate-Term Corporate Bond Index Fund |
1,583,000 |
Less than 0.01 |
0.63 |
Vanguard Long-Term Corporate Bond Index Fund |
192,000 |
Less than 0.01 |
0.08 |
Vanguard Mortgage-Backed Securities Index Fund |
587,000 |
Less than 0.01 |
0.23 |
Vanguard Russell 1000 Index Fund |
183,000 |
Less than 0.01 |
0.07 |
Vanguard Russell 1000 Value Index Fund |
280,000 |
Less than 0.01 |
0.11 |
Vanguard Russell 1000 Growth Index Fund |
368,000 |
Less than 0.01 |
0.15 |
Vanguard Russell 2000 Index Fund |
218,000 |
Less than 0.01 |
0.09 |
Vanguard Russell 2000 Value Index Fund |
38,000 |
Less than 0.01 |
0.02 |
Vanguard Russell 2000 Growth Index Fund |
33,000 |
Less than 0.01 |
0.01 |
Vanguard Russell 3000 Index Fund |
94,000 |
Less than 0.01 |
0.04 |
Annual Shared Fund Operating Expenses
(Shared Expenses Deducted From Fund Assets) | |||
Vanguard Fund |
2020 |
2021 |
2022 |
Vanguard Explorer Value Fund |
|
|
|
Management and Administrative Expenses |
0.20% |
0.21% |
0.20% |
Marketing and Distribution Expenses |
0.03 |
0.02 |
0.01 |
Vanguard Intermediate-Term Corporate Bond Index Fund |
|
|
|
Management and Administrative Expenses |
0.04% |
0.04% |
0.03% |
Marketing and Distribution Expenses |
0.01 |
0.01 |
0.01 |
Vanguard Intermediate-Term Treasury Index Fund |
|
|
|
Management and Administrative Expenses |
0.05% |
0.04% |
0.04% |
Marketing and Distribution Expenses |
0.01 |
0.01 |
0.01 |
Vanguard Long-Term Corporate Bond Index Fund |
|
|
|
Management and Administrative Expenses |
0.04% |
0.03% |
0.03% |
Marketing and Distribution Expenses |
0.01 |
0.01 |
0.01 |
Vanguard Long-Term Treasury Index Fund |
|
|
|
Management and Administrative Expenses |
0.05% |
0.05% |
0.04% |
Marketing and Distribution Expenses |
0.01 |
0.01 |
0.01 |
Vanguard Mortgage-Backed Securities Index Fund |
|
|
|
Management and Administrative Expenses |
0.04% |
0.03% |
0.03% |
Marketing and Distribution Expenses |
0.01 |
0.01 |
Less than 0.01 |
Vanguard Russell 1000 Growth Index Fund |
|
|
|
Management and Administrative Expenses |
0.07% |
0.07% |
0.06% |
Marketing and Distribution Expenses |
Less than 0.01 |
Less than 0.01 |
Less than 0.01 |
Vanguard Russell 1000 Index Fund |
|
|
|
Management and Administrative Expenses |
0.06% |
0.06% |
0.05% |
Marketing and Distribution Expenses |
Less than 0.01 |
Less than 0.01 |
Less than 0.01 |
Vanguard Russell 1000 Value Index Fund |
|
|
|
Management and Administrative Expenses |
0.06% |
0.06% |
0.05% |
Marketing and Distribution Expenses |
0.01 |
Less than 0.01 |
0.01 |
Vanguard Russell 2000 Growth Index Fund |
|
|
|
Management and Administrative Expenses |
0.09% |
0.10% |
0.10% |
Marketing and Distribution Expenses |
Less than 0.01 |
Less than 0.01 |
Less than 0.01 |
Vanguard Russell 2000 Index Fund |
|
|
|
Management and Administrative Expenses |
0.05% |
0.07% |
0.06% |
Marketing and Distribution Expenses |
0.01 |
Less than 0.01 |
0.01 |
Vanguard Russell 2000 Value Index Fund |
|
|
|
Management and Administrative Expenses |
0.10% |
0.11% |
0.10% |
Marketing and Distribution Expenses |
0.01 |
Less than 0.01 |
0.01 |
Vanguard Russell 3000 Index Fund |
|
|
|
Management and Administrative Expenses |
0.08% |
0.08% |
0.06% |
Marketing and Distribution Expenses |
Less than 0.01 |
Less than 0.01 |
Less than 0.01 |
Vanguard Short-Term Corporate Bond Index Fund |
|
|
|
Management and Administrative Expenses |
0.04% |
0.04% |
0.03% |
Marketing and Distribution Expenses |
0.01 |
0.01 |
0.01 |
Vanguard Short-Term Treasury Index Fund |
|
|
|
Management and Administrative Expenses |
0.05% |
0.04% |
0.04% |
Marketing and Distribution Expenses |
0.01 |
0.01 |
0.01 |
Name, Year of Birth |
Position(s)
Held With
Funds |
Vanguard
Funds’ Trustee/
Officer Since |
Principal Occupation(s)
During the Past Five Years,
Outside Directorships,
and Other Experience |
Number of
Vanguard Funds
Overseen by
Trustee/Officer |
Interested Trustee1
|
|
|
|
|
Mortimer J. Buckley
(1969) |
Chairman of the
Board, Chief
Executive
Officer, and
President |
January 2018 |
Chairman of the board (2019–present) of Vanguard and
of each of the investment companies served by
Vanguard; chief executive officer (2018–present) of
Vanguard; chief executive officer, president, and
trustee (2018–present) of each of the investment
companies served by Vanguard; president and director
(2017–present) of Vanguard; and president
(2018–present) of Vanguard Marketing Corporation.
Chief investment officer (2013–2017), managing
director (2002–2017), head of the Retail Investor Group
(2006–2012), and chief information officer (2001–2006)
of Vanguard. Trustee and vice chair of The Shipley
School. Member of the board of governors of the
Investment Company Institute and of FINRA. |
206 |
1 Mr. Buckley is considered an “interested person” as defined in the 1940 Act because he is an officer of the Trust. | ||||
Independent Trustees |
|
|
|
|
Tara Bunch
(1962) |
Trustee |
November 2021 |
Head of Global Operations at Airbnb (2020–present).
Vice President of AppleCare (2012–2020). Member of
the board of Out & Equal (2002–2006), the University
of California, Berkeley School of Engineering
(2020–present), and Santa Clara University’s School of
Business (2018–present). |
206 |
Emerson U. Fullwood
(1948) |
Trustee |
January 2008 |
Executive chief staff and marketing officer for North
America and corporate vice president (retired 2008) of
Xerox Corporation (document management products
and services). Former president of the Worldwide
Channels Group, Latin America, and Worldwide
Customer Service and executive chief staff officer of
Developing Markets of Xerox. Executive in residence
and 2009–2010 Distinguished Minett Professor at the
Rochester Institute of Technology. Member of the
board of directors of the University of Rochester
Medical Center, the Monroe Community College
Foundation, the United Way of Rochester, North
Carolina A&T University, Roberts Wesleyan College,
and the Rochester Philharmonic Orchestra. Trustee of
the University of Rochester. |
206 |
F. Joseph Loughrey
(1949) |
Trustee |
October 2009 |
President and chief operating officer (retired 2009) and
vice chairman of the board (2008–2009) of Cummins
Inc. (industrial machinery). Chairman of the board of
Hillenbrand, Inc. (specialized consumer services).
Director of the V Foundation. Member of the advisory
council for the College of Arts and Letters at the
University of Notre Dame. Chairman of the board of
Saint Anselm College. |
206 |
Mark Loughridge
(1953) |
Lead
Independent
Trustee |
March 2012 |
Senior vice president and chief financial officer (retired
2013) of IBM (information technology services).
Fiduciary member of IBM’s Retirement Plan
Committee (2004–2013), senior vice president and
general manager (2002–2004) of IBM Global Financing,
vice president and controller (1998–2002) of IBM, and
a variety of other prior management roles at IBM.
Member of the Council on Chicago Booth. |
206 |
Name, Year of Birth |
Position(s)
Held With
Funds |
Vanguard
Funds’ Trustee/
Officer Since |
Principal Occupation(s)
During the Past Five Years,
Outside Directorships,
and Other Experience |
Number of
Vanguard Funds
Overseen by
Trustee/Officer |
Scott C. Malpass
(1962) |
Trustee |
March 2012 |
Adjunct professor of finance at the University of Notre
Dame (2020–present). Chief investment officer and
vice president of the University of Notre Dame (retired
2020). Assistant professor of finance at the Mendoza
College of Business, University of Notre Dame (retired
2020), and member of the Notre Dame 403(b)
Investment Committee. Member of the board of
Catholic Investment Services, Inc. (investment
advisors), the board of superintendence of the Institute
for the Works of Religion, and the board of directors of
Paxos Trust Company (finance). |
206 |
Deanna Mulligan
(1963) |
Trustee |
January 2018 |
Chief executive officer of Purposeful (2021–present).
Board chair (2020), chief executive officer (2011–2020),
and president (2010–2019) of The Guardian Life
Insurance Company of America. Chief operating officer
(2010–2011) and executive vice president (2008–2010)
of Individual Life and Disability of The Guardian Life
Insurance Company of America. Member of the board
of the Economic Club of New York. Trustee of the
Partnership for New York City (business leadership),
the Chief Executives for Corporate Purpose, and the
New York-Presbyterian Hospital. |
206 |
André F. Perold
(1952) |
Trustee |
December 2004 |
George Gund Professor of Finance and Banking,
Emeritus at the Harvard Business School (retired
2011). Chief investment officer and co-managing
partner of HighVista Strategies LLC (private
investment firm). Board member (2018–present) of RIT
Capital Partners (investment firm); investment
committee member of Partners Health Care System. |
206 |
Sarah Bloom Raskin
(1961) |
Trustee |
January 2018 |
Deputy secretary (2014–2017) of the United States
Department of the Treasury. Governor (2010–2014) of
the Federal Reserve Board. Commissioner
(2007–2010) of financial regulation for the State of
Maryland. Colin W. Brown Distinguished Professor of
the Practice (2021–present), Professor (2020–present),
Distinguished Fellow of the Global Financial Markets
Center (2020–present), and Rubenstein Fellow
(2017–2020) of Duke University; trustee
(2017–present) of Amherst College; member of the
Amherst College Investment Committee
(2019–present); and member of the Regenerative
Crisis Response Committee (2020–present). |
206 |
David Thomas
(1956) |
Trustee |
July 2021 |
President of Morehouse College (2018–present).
Professor of Business Administration Emeritus at
Harvard University (2017–2018) and Dean (2011–2016)
and Professor of Management at Georgetown
University, McDonough School of Business
(2016–2017). Director of DTE Energy Company
(2013–present). Trustee of Common Fund
(2019–present). |
206 |
Peter F. Volanakis
(1955) |
Trustee |
July 2009 |
President and chief operating officer (retired 2010) of
Corning Incorporated (communications equipment)
and director of Corning Incorporated (2000–2010) and
Dow Corning (2001–2010). Director (2012) of SPX
Corporation (multi-industry manufacturing). Overseer
of the Amos Tuck School of Business Administration,
Dartmouth College (2001–2013). Member of the BMW
Group Mobility Council. |
206 |
Name, Year of Birth |
Position(s)
Held With
Funds |
Vanguard
Funds’ Trustee/
Officer Since |
Principal Occupation(s)
During the Past Five Years,
Outside Directorships,
and Other Experience |
Number of
Vanguard Funds
Overseen by
Trustee/Officer |
Executive Officers |
|
|
|
|
Jacqueline Angell
(1974) |
Chief
Compliance
Officer |
November 2022 |
Principal of Vanguard. Chief compliance officer
(November 2022–present) of Vanguard and of each of
the investment companies served by Vanguard. Chief
compliance officer (2018–2022) and deputy chief
compliance officer (2017–2019) of State Street. |
206 |
Christine M. Buchanan
(1970) |
Chief Financial
Officer |
November 2017 |
Principal of Vanguard. Chief financial officer
(2021–present) and treasurer (2017–2021) of each of
the investment companies served by Vanguard.
Partner (2005–2017) at KPMG (audit, tax, and advisory
services). |
206 |
John Galloway
(1973) |
Investment
Stewardship
Officer |
September 2020 |
Principal of Vanguard. Investment stewardship officer
(2020–present) of each of the investment companies
served by Vanguard. Head of Investor Advocacy
(2020–present) and head of Marketing Strategy and
Planning (2017–2020) at Vanguard. Special Assistant to
the President of the United States (2015). |
206 |
Ashley Grim
(1984) |
Treasurer |
February 2022 |
Treasurer (February 2022–present) of each of the
investment companies served by Vanguard. Fund
transfer agent controller (2019–2022) and director of
Audit Services (2017–2019) at Vanguard. Senior
manager (2015–2017) at PriceWaterhouseCoopers
(audit and assurance, consulting, and tax services). |
206 |
Peter Mahoney
(1974) |
Controller |
May 2015 |
Principal of Vanguard. Controller (2015–present) of
each of the investment companies served by
Vanguard. Head of International Fund Services (2008–
2014) at Vanguard. |
206 |
Anne E. Robinson
(1970) |
Secretary |
September 2016 |
General counsel (2016–present) of Vanguard.
Secretary (2016–present) of Vanguard and of each of
the investment companies served by Vanguard.
Managing director (2016–present) of Vanguard.
Managing director and general counsel of Global Cards
and Consumer Services (2014–2016) at Citigroup.
Counsel (2003–2014) at American Express.
Non-executive director of the board of National Grid
(energy). |
206 |
Michael Rollings
(1963) |
Finance Director |
February 2017 |
Finance director (2017–present) and treasurer (2017)
of each of the investment companies served by
Vanguard. Managing director (2016–present) of
Vanguard. Chief financial officer (2016–present) of
Vanguard. Director (2016–present) of Vanguard
Marketing Corporation. Executive vice president and
chief financial officer (2006–2016) of MassMutual
Financial Group. |
206 |
Trustee |
Aggregate
Compensation From
the Funds1
|
Pension or Retirement
Benefits Accrued as Part of
the Funds’ Expenses1
|
Accrued Annual
Retirement Benefit at
January 1, 2022 |
Total Compensation
From All Vanguard
Funds Paid to Trustees2
|
Mortimer J. Buckley |
— |
— |
— |
— |
Tara Bunch3 |
$6,985 |
— |
— |
$94,286 |
Emerson U. Fullwood |
6,985 |
— |
— |
330,000 |
Amy Gutmann4 |
2,328 |
— |
— |
330,000 |
F. Joseph Loughrey |
7,408 |
— |
— |
350,000 |
Mark Loughridge |
8,467 |
— |
— |
400,000 |
Scott C. Malpass |
6,985 |
— |
— |
330,000 |
Deanna Mulligan |
6,985 |
— |
— |
330,000 |
André F. Perold |
6,985 |
— |
— |
330,000 |
Sarah Bloom Raskin |
7,408 |
— |
— |
350,000 |
David A. Thomas5 |
6,985 |
— |
— |
188,571 |
Peter F. Volanakis |
7,408 |
— |
— |
350,000 |
Vanguard Fund |
Trustee |
Dollar Range of
Fund Shares
Owned by Trustee |
Aggregate Dollar Range
of Vanguard Fund Shares
Owned by Trustee |
Vanguard Explorer Value Fund |
Mortimer J. Buckley |
— |
Over $100,000 |
|
Tara Bunch |
— |
Over $100,000 |
|
Emerson U. Fullwood |
— |
Over $100,000 |
|
F. Joseph Loughrey |
— |
Over $100,000 |
|
Mark Loughridge |
— |
Over $100,000 |
|
Scott C. Malpass |
— |
Over $100,000 |
|
Deanna Mulligan |
— |
Over $100,000 |
|
André F. Perold |
— |
Over $100,000 |
|
Sarah Bloom Raskin |
— |
Over $100,000 |
|
David A. Thomas |
— |
Over $100,000 |
|
Peter F. Volanakis |
— |
Over $100,000 |
|
|
|
|
Vanguard Fund |
Trustee |
Dollar Range of
Fund Shares
Owned by Trustee |
Aggregate Dollar Range
of Vanguard Fund Shares
Owned by Trustee |
Vanguard Intermediate-Term Corporate Bond Index Fund |
Mortimer J. Buckley |
— |
Over $100,000 |
|
Tara Bunch |
— |
Over $100,000 |
|
Emerson U. Fullwood |
— |
Over $100,000 |
|
F. Joseph Loughrey |
— |
Over $100,000 |
|
Mark Loughridge |
— |
Over $100,000 |
|
Scott C. Malpass |
— |
Over $100,000 |
|
Deanna Mulligan |
— |
Over $100,000 |
|
André F. Perold |
— |
Over $100,000 |
|
Sarah Bloom Raskin |
— |
Over $100,000 |
|
David A. Thomas |
— |
Over $100,000 |
|
Peter F. Volanakis |
Over $100,000 |
Over $100,000 |
|
|
|
|
Vanguard Intermediate-Term Treasury Index Fund |
Mortimer J. Buckley |
— |
Over $100,000 |
|
Tara Bunch |
— |
Over $100,000 |
|
Emerson U. Fullwood |
— |
Over $100,000 |
|
F. Joseph Loughrey |
— |
Over $100,000 |
|
Mark Loughridge |
— |
Over $100,000 |
|
Scott C. Malpass |
— |
Over $100,000 |
|
Deanna Mulligan |
— |
Over $100,000 |
|
André F. Perold |
— |
Over $100,000 |
|
Sarah Bloom Raskin |
— |
Over $100,000 |
|
David A. Thomas |
— |
Over $100,000 |
|
Peter F. Volanakis |
— |
Over $100,000 |
|
|
|
|
Vanguard Long-Term Corporate Bond Index Fund |
Mortimer J. Buckley |
— |
Over $100,000 |
|
Tara Bunch |
— |
Over $100,000 |
|
Emerson U. Fullwood |
— |
Over $100,000 |
|
F. Joseph Loughrey |
— |
Over $100,000 |
|
Mark Loughridge |
— |
Over $100,000 |
|
Scott C. Malpass |
— |
Over $100,000 |
|
Deanna Mulligan |
— |
Over $100,000 |
|
André F. Perold |
— |
Over $100,000 |
|
Sarah Bloom Raskin |
— |
Over $100,000 |
|
David A. Thomas |
— |
Over $100,000 |
|
Peter F. Volanakis |
— |
Over $100,000 |
|
|
|
|
Vanguard Long-Term Treasury Index Fund |
Mortimer J. Buckley |
— |
Over $100,000 |
|
Tara Bunch |
— |
Over $100,000 |
|
Emerson U. Fullwood |
— |
Over $100,000 |
|
F. Joseph Loughrey |
— |
Over $100,000 |
|
Mark Loughridge |
— |
Over $100,000 |
|
Scott C. Malpass |
— |
Over $100,000 |
|
Deanna Mulligan |
— |
Over $100,000 |
|
André F. Perold |
— |
Over $100,000 |
|
Sarah Bloom Raskin |
— |
Over $100,000 |
|
David A. Thomas |
— |
Over $100,000 |
|
Peter F. Volanakis |
$1 – $10,000 |
Over $100,000 |
|
|
|
|
Vanguard Fund |
Trustee |
Dollar Range of
Fund Shares
Owned by Trustee |
Aggregate Dollar Range
of Vanguard Fund Shares
Owned by Trustee |
Vanguard Mortgage-Backed Securities Index Fund |
Mortimer J. Buckley |
— |
Over $100,000 |
|
Tara Bunch |
— |
Over $100,000 |
|
Emerson U. Fullwood |
— |
Over $100,000 |
|
F. Joseph Loughrey |
— |
Over $100,000 |
|
Mark Loughridge |
— |
Over $100,000 |
|
Scott C. Malpass |
— |
Over $100,000 |
|
Deanna Mulligan |
— |
Over $100,000 |
|
André F. Perold |
— |
Over $100,000 |
|
Sarah Bloom Raskin |
— |
Over $100,000 |
|
David A. Thomas |
— |
Over $100,000 |
|
Peter F. Volanakis |
— |
Over $100,000 |
|
|
|
|
Vanguard Russell 1000 Growth Index Fund |
Mortimer J. Buckley |
— |
Over $100,000 |
|
Tara Bunch |
— |
Over $100,000 |
|
Emerson U. Fullwood |
— |
Over $100,000 |
|
F. Joseph Loughrey |
— |
Over $100,000 |
|
Mark Loughridge |
— |
Over $100,000 |
|
Scott C. Malpass |
— |
Over $100,000 |
|
Deanna Mulligan |
— |
Over $100,000 |
|
André F. Perold |
— |
Over $100,000 |
|
Sarah Bloom Raskin |
— |
Over $100,000 |
|
David A. Thomas |
— |
Over $100,000 |
|
Peter F. Volanakis |
— |
Over $100,000 |
|
|
|
|
Vanguard Russell 1000 Index Fund |
Mortimer J. Buckley |
— |
Over $100,000 |
|
Tara Bunch |
— |
Over $100,000 |
|
Emerson U. Fullwood |
— |
Over $100,000 |
|
F. Joseph Loughrey |
— |
Over $100,000 |
|
Mark Loughridge |
— |
Over $100,000 |
|
Scott C. Malpass |
— |
Over $100,000 |
|
Deanna Mulligan |
— |
Over $100,000 |
|
André F. Perold |
— |
Over $100,000 |
|
Sarah Bloom Raskin |
— |
Over $100,000 |
|
David A. Thomas |
— |
Over $100,000 |
|
Peter F. Volanakis |
— |
Over $100,000 |
|
|
|
|
Vanguard Russell 1000 Value Index Fund |
Mortimer J. Buckley |
— |
Over $100,000 |
|
Tara Bunch |
— |
Over $100,000 |
|
Emerson U. Fullwood |
— |
Over $100,000 |
|
F. Joseph Loughrey |
— |
Over $100,000 |
|
Mark Loughridge |
— |
Over $100,000 |
|
Scott C. Malpass |
— |
Over $100,000 |
|
Deanna Mulligan |
— |
Over $100,000 |
|
André F. Perold |
— |
Over $100,000 |
|
Sarah Bloom Raskin |
— |
Over $100,000 |
|
David A. Thomas |
— |
Over $100,000 |
|
Peter F. Volanakis |
— |
Over $100,000 |
|
|
|
|
Vanguard Fund |
Trustee |
Dollar Range of
Fund Shares
Owned by Trustee |
Aggregate Dollar Range
of Vanguard Fund Shares
Owned by Trustee |
Vanguard Russell 2000 Growth Index Fund |
Mortimer J. Buckley |
— |
Over $100,000 |
|
Tara Bunch |
— |
Over $100,000 |
|
Emerson U. Fullwood |
— |
Over $100,000 |
|
F. Joseph Loughrey |
— |
Over $100,000 |
|
Mark Loughridge |
— |
Over $100,000 |
|
Scott C. Malpass |
— |
Over $100,000 |
|
Deanna Mulligan |
— |
Over $100,000 |
|
André F. Perold |
— |
Over $100,000 |
|
Sarah Bloom Raskin |
— |
Over $100,000 |
|
David A. Thomas |
— |
Over $100,000 |
|
Peter F. Volanakis |
— |
Over $100,000 |
|
|
|
|
Vanguard Russell 2000 Index Fund |
Mortimer J. Buckley |
— |
Over $100,000 |
|
Tara Bunch |
— |
Over $100,000 |
|
Emerson U. Fullwood |
— |
Over $100,000 |
|
F. Joseph Loughrey |
— |
Over $100,000 |
|
Mark Loughridge |
— |
Over $100,000 |
|
Scott C. Malpass |
— |
Over $100,000 |
|
Deanna Mulligan |
— |
Over $100,000 |
|
André F. Perold |
— |
Over $100,000 |
|
Sarah Bloom Raskin |
— |
Over $100,000 |
|
David A. Thomas |
— |
Over $100,000 |
|
Peter F. Volanakis |
— |
Over $100,000 |
|
|
|
|
Vanguard Russell 2000 Value Index Fund |
Mortimer J. Buckley |
— |
Over $100,000 |
|
Tara Bunch |
— |
Over $100,000 |
|
Emerson U. Fullwood |
— |
Over $100,000 |
|
F. Joseph Loughrey |
— |
Over $100,000 |
|
Mark Loughridge |
— |
Over $100,000 |
|
Scott C. Malpass |
— |
Over $100,000 |
|
Deanna Mulligan |
— |
Over $100,000 |
|
André F. Perold |
— |
Over $100,000 |
|
Sarah Bloom Raskin |
— |
Over $100,000 |
|
David A. Thomas |
— |
Over $100,000 |
|
Peter F. Volanakis |
— |
Over $100,000 |
|
|
|
|
Vanguard Russell 3000 Index Fund |
Mortimer J. Buckley |
— |
Over $100,000 |
|
Tara Bunch |
— |
Over $100,000 |
|
Emerson U. Fullwood |
— |
Over $100,000 |
|
F. Joseph Loughrey |
— |
Over $100,000 |
|
Mark Loughridge |
— |
Over $100,000 |
|
Scott C. Malpass |
— |
Over $100,000 |
|
Deanna Mulligan |
— |
Over $100,000 |
|
André F. Perold |
— |
Over $100,000 |
|
Sarah Bloom Raskin |
— |
Over $100,000 |
|
David A. Thomas |
— |
Over $100,000 |
|
Peter F. Volanakis |
— |
Over $100,000 |
|
|
|
|
Vanguard Fund |
Trustee |
Dollar Range of
Fund Shares
Owned by Trustee |
Aggregate Dollar Range
of Vanguard Fund Shares
Owned by Trustee |
Vanguard Short-Term Corporate Bond Index Fund |
Mortimer J. Buckley |
— |
Over $100,000 |
|
Tara Bunch |
— |
Over $100,000 |
|
Emerson U. Fullwood |
— |
Over $100,000 |
|
F. Joseph Loughrey |
— |
Over $100,000 |
|
Mark Loughridge |
— |
Over $100,000 |
|
Scott C. Malpass |
— |
Over $100,000 |
|
Deanna Mulligan |
— |
Over $100,000 |
|
André F. Perold |
— |
Over $100,000 |
|
Sarah Bloom Raskin |
— |
Over $100,000 |
|
David A. Thomas |
— |
Over $100,000 |
|
Peter F. Volanakis |
— |
Over $100,000 |
|
|
|
|
Vanguard Short-Term Treasury Index Fund |
Mortimer J. Buckley |
— |
Over $100,000 |
|
Tara Bunch |
— |
Over $100,000 |
|
Emerson U. Fullwood |
— |
Over $100,000 |
|
F. Joseph Loughrey |
— |
Over $100,000 |
|
Mark Loughridge |
— |
Over $100,000 |
|
Scott C. Malpass |
— |
Over $100,000 |
|
Deanna Mulligan |
— |
Over $100,000 |
|
André F. Perold |
— |
Over $100,000 |
|
Sarah Bloom Raskin |
— |
Over $100,000 |
|
David A. Thomas |
— |
Over $100,000 |
|
Peter F. Volanakis |
— |
Over $100,000 |
|
|
|
|
Vanguard Total Corporate Bond ETF |
Mortimer J. Buckley |
— |
Over $100,000 |
|
Tara Bunch |
— |
Over $100,000 |
|
Emerson U. Fullwood |
— |
Over $100,000 |
|
F. Joseph Loughrey |
— |
Over $100,000 |
|
Mark Loughridge |
— |
Over $100,000 |
|
Scott C. Malpass |
— |
Over $100,000 |
|
Deanna Mulligan |
— |
Over $100,000 |
|
André F. Perold |
— |
Over $100,000 |
|
Sarah Bloom Raskin |
— |
Over $100,000 |
|
David A. Thomas |
— |
Over $100,000 |
|
Peter F. Volanakis |
— |
Over $100,000 |
|
|
|
|
Vanguard Total World Bond ETF |
Mortimer J. Buckley |
— |
Over $100,000 |
|
Tara Bunch |
— |
Over $100,000 |
|
Emerson U. Fullwood |
— |
Over $100,000 |
|
F. Joseph Loughrey |
— |
Over $100,000 |
|
Mark Loughridge |
— |
Over $100,000 |
|
Scott C. Malpass |
— |
Over $100,000 |
|
Deanna Mulligan |
— |
Over $100,000 |
|
André F. Perold |
— |
Over $100,000 |
|
Sarah Bloom Raskin |
— |
Over $100,000 |
|
David A. Thomas |
— |
Over $100,000 |
|
Peter F. Volanakis |
— |
Over $100,000 |
Vanguard Fund |
Share Class |
Owner and Address |
Percentage
of Ownership |
Vanguard Explorer Value Fund |
Investor Shares |
DELOITTE PROFIT SHARING PLAN
BROADWAY, NY |
12.56% |
|
|
FIDELITY INVESTMENTS
INSTITUTIONAL OPERATIONS CO
COVINGTON, KY |
26.32% |
Vanguard Intermediate-Term Corporate Bond Index
Fund |
Institutional Shares |
ABELL-HANGER FOUNDATION INC
MIDLAND, TX |
5.18% |
|
|
ASHLAND ASBESTOS DEFENSE TRUST
NEW YORK, NY |
24.76% |
|
|
ASHLAND EVIRONMENTAL ACCOUNT
NEW YORK, NY |
7.75% |
|
Admiral Shares |
CHARLES SCHWAB & CO INC SAN
FRANCISCO, CA |
5.95% |
|
Institutional Shares |
MUNICH REINSURANCE AMERICA,
INC. PENSION PLAN PRINCETON, NJ |
8.96% |
|
|
MUNICH REINSURANCE AMERICA,
INC. PENSION PLAN PRINCETON, NJ |
8.93% |
|
|
PACIFIC LIFE FOUNDATION NEWPORT
BEACH, CA |
9.46% |
|
|
SEI PRIVATE TRUST COMPANY OAKS,
PA |
25.24% |
Vanguard Intermediate-Term Treasury Index Fund |
Admiral Shares |
CHARLES SCHWAB & CO INC SAN
FRANCISCO, CA |
31.39% |
|
Institutional Shares |
CHARLES SCHWAB & CO INC SAN
FRANCISCO, CA |
12.68% |
|
|
MAC & CO PITTSBURGH, PA |
5.07% |
|
|
NATIONAL FINANCIAL SERVICES
CORPORATION JERSEY CITY, NJ |
27.23% |
|
Admiral Shares |
NATIONAL FINANCIAL SERVICES
CORPORATION JERSEY CITY, NJ |
10.83% |
|
Institutional Shares |
UNITED FED OF TEACHERS WELFARE
FUND NEW YORK, NY |
5.39% |
|
|
US BANK, N.A. MILWAUKEE, WI |
5.80% |
Vanguard Long-Term Corporate Bond Index Fund |
Institutional Shares |
BMO HARRIS BANK, N.A. MITRA & CO
FBO 98 DC MILWAUKEE, WI |
17.97% |
|
|
CHARLES SCHWAB & CO INC SAN
FRANCISCO, CA |
9.20% |
|
Admiral Shares |
FIRST NATIONAL BANK OF NEBRASKA
MARIL & CO FBO NG MILWAUKEE, WI |
15.89% |
|
Institutional Shares |
MAC & CO PITTSBURGH, PA |
14.34% |
|
|
NEW YORK UNIVERSITY STAFF
PENSION PLAN
(NON-CONTRIBUTORY) NEW YORK, NY |
22.40% |
|
|
THE NORTHERN TRUST COMPANY
FBO NEW YORK TIMES COMPANY -
GUILD FUND CHICAGO, IL |
21.65% |
|
|
THE NORTHERN TRUST COMPANY
FBO PPA - CASH 4492957 CHICAGO, IL |
11.59% |
|
Admiral Shares |
US BANK, N.A. MILWAUKEE, WI |
5.24% |
Vanguard Long-Term Treasury Index Fund |
Institutional Shares |
BBH-CREDIT SUISSE & LOMBARD
ODIER ACCOUNTS NEW YORK, NY |
6.58% |
|
|
NATIONAL FINANCIAL SERVICES
CORPORATION JERSEY CITY, NJ |
41.41% |
Vanguard Fund |
Share Class |
Owner and Address |
Percentage
of Ownership |
Vanguard Mortgage-Backed Securities Index Fund |
Admiral Shares |
CHARLES SCHWAB & CO INC SAN
FRANCISCO, CA |
7.53% |
|
Institutional Shares |
NATIONAL FINANCIAL SERVICES
CORPORATION JERSEY CITY, NJ |
39.94% |
|
Admiral Shares |
NATIONAL FINANCIAL SERVICES
CORPORATION JERSEY CITY, NJ |
35.53% |
|
Institutional Shares |
PERSHING LLC JERSEY CITY, NJ |
50.23% |
|
|
SEI PRIVATE TRUST COMPANY OAKS,
PA |
5.27% |
|
Admiral Shares |
SEI PRIVATE TRUST COMPANY
SUNTRUST BANK OAKS, PA |
12.51% |
|
|
TD AMERITRADE INC OMAHA, NE |
13.62% |
Vanguard Russell 1000 Growth Index Fund |
Institutional Shares |
MAC & CO PITTSBURGH, PA |
8.89% |
|
|
MG TRUST LEGACY WTRISC FBO
PHX-ONEAMERICA (WI OFFICE)
PHOENIX, AZ |
9.52% |
Vanguard Russell 1000 Index Fund |
Institutional Shares |
NATIONAL FINANCIAL SERVICES
CORPORATION JERSEY CITY, NJ |
33.22% |
|
|
SEI PRIVATE TRUST COMPANY OAKS,
PA |
13.24% |
|
|
THE NORTHERN TRUST COMPANY
FBO THE CONFEDERATE TRIBES OF
THE GRAND RONDE COMMUNITY OF
OREGON CHICAGO, IL |
5.79% |
|
|
US BANK, N.A. MILWAUKEE, WI |
6.23% |
Vanguard Russell 1000 Value Index Fund |
Institutional Shares |
BMO HARRIS BANK, N.A. MITRA & CO
FBO 98 DC MILWAUKEE, WI |
7.69% |
|
|
FIDELITY INVESTMENTS
INSTITUTIONAL OPERATIONS CO
COVINGTON, KY |
5.57% |
|
|
MG TRUST LEGACY WTRISC FBO
PHX-ONEAMERICA (WI OFFICE)
PHOENIX, AZ |
5.01% |
|
|
NATIONAL FINANCIAL SERVICES
CORPORATION JERSEY CITY, NJ |
9.93% |
|
|
SEI PRIVATE TRUST COMPANY OAKS,
PA |
5.19% |
|
|
SEI PRIVATE TRUST COMPANY
SUNTRUST BANK OAKS, PA |
5.79% |
Vanguard Russell 2000 Growth Index Fund |
Institutional Shares |
FIDELITY INVESTMENTS
INSTITUTIONAL OPERATIONS CO
COVINGTON, KY |
36.32% |
|
|
FIRST CITIZENS BANK MITRA & CO
FBO FCB MILWAUKEE, WI |
5.49% |
|
|
JOHN HANCOCK TRUST COMPANY
LLC WESTWOOD, MA |
11.94% |
|
|
SEI PRIVATE TRUST COMPANY M & T
OAKS, PA |
8.64% |
|
|
SEI PRIVATE TRUST COMPANY
REGIONS BANK OAKS, PA |
6.83% |
|
|
UBATCO & CO FBO NEBRASKA
EDUCATIONAL SAVINGS LINCOLN, NE |
15.55% |
Vanguard Fund |
Share Class |
Owner and Address |
Percentage
of Ownership |
Vanguard Russell 2000 Index Fund |
Institutional Shares |
CROWE LLP RETIREMENT PLAN
SOUTHBEND, IN |
5.57% |
|
|
MAC & CO PITTSBURGH, PA |
6.31% |
|
|
NATIONAL FINANCIAL SERVICES
CORPORATION JERSEY CITY, NJ |
9.30% |
|
|
SAXON & CO PHILADELPHIA, PA |
8.71% |
|
|
TRANSAMERICA RETIREMENT
SOLUTIONS OMNIBUS ACCOUNT
HARRISON, NY |
5.76% |
|
|
US BANK, N.A. MILWAUKEE, WI |
10.69% |
|
|
VOYA INSTITUTIONAL TRUST
COMPANY TTEE FOR CORE MARKET
BRAINTREE, MA |
6.47% |
Vanguard Russell 2000 Value Index Fund |
Institutional Shares |
BMO HARRIS BANK, N.A. MITRA & CO
FBO 98 DC MILWAUKEE, WI |
10.42% |
|
|
JOHN HANCOCK TRUST COMPANY
LLC WESTWOOD, MA |
15.62% |
|
|
KEY TRUST COMPANY CLEVELAND,
OH |
6.97% |
|
|
NATIONAL FINANCIAL SERVICES
CORPORATION JERSEY CITY, NJ |
43.45% |
|
|
US BANK, N.A. MILWAUKEE, WI |
21.04% |
Vanguard Russell 3000 Index Fund |
Institutional Shares |
COMMERCE BANK MORI & CO
KANSAS CITY, MO |
5.89% |
|
|
NATIONAL FINANCIAL SERVICES
CORPORATION JERSEY CITY, NJ |
13.13% |
|
|
SEI PRIVATE TRUST COMPANY OAKS,
PA |
45.95% |
|
|
SUTTER INSURANCE SERVICES
CORPORATION HONOLULU, HI |
5.14% |
Vanguard Short-Term Corporate Bond Index Fund |
Admiral Shares |
CHARLES SCHWAB & CO INC SAN
FRANCISCO, CA |
14.99% |
|
Institutional Shares |
MAC & CO PITTSBURGH, PA |
5.32% |
|
Admiral Shares |
NATIONAL FINANCIAL SERVICES
CORPORATION JERSEY CITY, NJ |
7.77% |
|
Institutional Shares |
NATIONAL FINANCIAL SERVICES
CORPORATION JERSEY CITY, NJ |
42.62% |
|
|
THE UNIVERSITY OF SOUTH FLORIDA
BOARD OF TRUSTEES TAMPA, FL |
17.55% |
Vanguard Short-Term Treasury Index Fund |
Institutional Shares |
NATIONAL FINANCIAL SERVICES
CORPORATION JERSEY CITY, NJ |
6.76% |
|
Admiral Shares |
NATIONAL FINANCIAL SERVICES
CORPORATION JERSEY CITY, NJ |
10.63% |
|
Institutional Shares |
PERSHING LLC JERSEY CITY, NJ |
7.21% |
|
|
US BANK, N.A. MILWAUKEE, WI |
12.33% |
Vanguard Fund |
Owner |
Percentage
of Ownership |
Vanguard Intermediate-Term Corporate Bond ETF |
Charles Schwab & Co., Inc. |
13.44% |
|
Citibank, N.A. |
5.17% |
|
JPMorgan Chase Bank, N.A. |
12.50% |
|
Merrill Lynch, Pierce, Fenner & Smith Incorporated |
16.70% |
|
National Financial Services, LLC |
8.01% |
|
TD Ameritrade Clearing, Inc. |
7.52% |
Vanguard Intermediate-Term Treasury ETF |
Charles Schwab & Co., Inc. |
17.88% |
|
JPMorgan Chase Bank, N.A. |
14.40% |
|
National Financial Services, LLC |
14.13% |
|
Pershing, LLC |
6.58% |
|
TD Ameritrade Clearing, Inc. |
7.57% |
|
UBS Financial Services, LLC |
6.86% |
Vanguard Long-Term Corporate Bond ETF |
Charles Schwab & Co., Inc. |
5.28% |
|
Citibank, N.A. |
6.89% |
|
JPMorgan Chase Bank, N.A. |
12.40% |
|
National Financial Services, LLC |
7.59% |
|
The Northern Trust Company |
7.41% |
|
State Street Bank and Trust Company |
6.67% |
|
The Bank of New York Mellon |
6.72% |
|
Vanguard Marketing Corporation |
8.18% |
Vanguard Long-Term Treasury ETF |
Ameriprise Advisor Services, Inc. |
14.80% |
|
Charles Schwab & Co., Inc. |
9.93% |
|
Citibank, N.A. |
7.13% |
|
Merrill Lynch, Pierce, Fenner & Smith Incorporated |
12.41% |
|
Morgan Stanley DW, Inc. |
7.25% |
|
National Financial Services, LLC |
11.15% |
|
Vanguard Marketing Corporation |
5.72% |
Vanguard Mortgage-Backed Securities ETF |
Charles Schwab & Co., Inc. |
42.25% |
|
JPMorgan Chase Bank, N.A. |
5.36% |
|
Merrill Lynch, Pierce, Fenner & Smith Incorporated |
16.86% |
|
National Financial Services, LLC |
10.84% |
Vanguard Russell 1000 ETF |
BNY/WEALTH |
7.39% |
|
Charles Schwab & Co., Inc. |
18.88% |
|
Citibank, N.A. |
5.22% |
|
National Financial Services, LLC |
8.83% |
|
State Street Bank and Trust Company |
6.31% |
|
TD Ameritrade Clearing, Inc. |
5.33% |
|
UBS Financial Services, LLC |
6.94% |
|
Vanguard Marketing Corporation |
12.39% |
Vanguard Russell 1000 Growth ETF |
Charles Schwab & Co., Inc. |
12.04% |
|
Merrill Lynch, Pierce, Fenner & Smith Incorporated |
19.20% |
|
National Financial Services, LLC |
11.53% |
|
Pershing, LLC |
5.84% |
|
TD Ameritrade Clearing, Inc. |
5.06% |
|
UBS Financial Services, LLC |
6.68% |
|
Vanguard Marketing Corporation |
5.92% |
Vanguard Russell 1000 Value ETF |
Charles Schwab & Co., Inc. |
10.53% |
|
Merrill Lynch, Pierce, Fenner & Smith Incorporated |
18.46% |
|
Morgan Stanley DW, Inc. |
5.81% |
|
National Financial Services, LLC |
9.26% |
|
UBS Financial Services, LLC |
13.02% |
Vanguard Fund |
Owner |
Percentage
of Ownership |
Vanguard Russell 2000 ETF |
BROWN/ETF |
7.10% |
|
Charles Schwab & Co., Inc. |
9.42% |
|
Merrill Lynch, Pierce, Fenner & Smith Incorporated |
16.00% |
|
National Financial Services, LLC |
11.96% |
|
TD Ameritrade Clearing, Inc. |
5.26% |
|
UBS Financial Services, LLC |
9.68% |
|
Vanguard Marketing Corporation |
5.23% |
Vanguard Russell 2000 Growth ETF |
Ameriprise Advisor Services, Inc. |
6.24% |
|
Charles Schwab & Co., Inc. |
16.46% |
|
Merrill Lynch, Pierce, Fenner & Smith Incorporated |
7.00% |
|
National Financial Services, LLC |
12.28% |
|
Pershing, LLC |
9.62% |
|
TD Ameritrade Clearing, Inc. |
6.70% |
|
Vanguard Marketing Corporation |
13.85% |
Vanguard Russell 2000 Value ETF |
Ameriprise Advisor Services, Inc. |
16.46% |
|
Charles Schwab & Co., Inc. |
21.73% |
|
Merrill Lynch, Pierce, Fenner & Smith Incorporated |
8.41% |
|
National Financial Services, LLC |
11.27% |
|
Pershing, LLC |
5.41% |
|
Vanguard Marketing Corporation |
10.97% |
Vanguard Russell 3000 ETF |
Charles Schwab & Co., Inc. |
18.11% |
|
National Financial Services, LLC |
9.46% |
|
TD Ameritrade Clearing, Inc. |
7.99% |
|
The Bank of New York Mellon |
22.47% |
|
Vanguard Marketing Corporation |
6.09% |
Vanguard Short-Term Corporate Bond ETF |
Charles Schwab & Co., Inc. |
14.18% |
|
JPMorgan Chase Bank, N.A. |
10.14% |
|
Merrill Lynch, Pierce, Fenner & Smith Incorporated |
10.66% |
|
Morgan Stanley DW, Inc. |
5.06% |
|
National Financial Services, LLC |
7.68% |
|
TD Ameritrade Clearing, Inc. |
5.19% |
|
The Bank of New York Mellon |
8.07% |
Vanguard Short-Term Treasury ETF |
Charles Schwab & Co., Inc. |
14.15% |
|
JPMorgan Chase Bank, N.A. |
7.83% |
|
Morgan Stanley DW, Inc. |
5.98% |
|
National Financial Services, LLC |
14.75% |
|
The Northern Trust Company |
8.04% |
|
Pershing, LLC |
5.97% |
|
TD Ameritrade Clearing, Inc. |
7.66% |
|
UBS Financial Services, LLC |
5.01% |
Vanguard Total Corporate Bond ETF |
Charles Schwab & Co., Inc. |
10.76% |
|
Merrill Lynch, Pierce, Fenner & Smith Incorporated |
7.34% |
|
National Financial Services, LLC |
33.34% |
|
TD Ameritrade Clearing, Inc. |
12.26% |
|
Vanguard Marketing Corporation |
16.54% |
Vanguard Total World Bond ETF |
Charles Schwab & Co., Inc. |
15.77% |
|
JPMorgan Chase Bank, N.A. |
12.55% |
|
National Financial Services, LLC |
13.08% |
|
TD Ameritrade Clearing, Inc. |
12.04% |
|
Vanguard Marketing Corporation |
14.85% |
Vanguard Fund |
Owner |
Percentage
of Ownership |
Vanguard Explorer Value Fund |
Fidelity Investments Institutional Operations Co |
26.32% |
Vanguard Mortgage-Backed Securities Index Fund |
Charles Schwab & Co., Inc. |
38.58% |
Vanguard Total Corporate Bond ETF |
National Financial Services, LLC |
33.34% |
Portfolio Manager |
|
No. of
accounts |
Total assets |
No. of accounts with
performance-based
fees |
Total assets in
accounts with
performance-based
fees |
Eugene Fox III |
Registered investment companies1 |
8 |
$2.5B |
1 |
$1.1B |
|
Other pooled investment vehicles |
4 |
$354.6M |
0 |
$0 |
|
Other accounts |
39 |
$2.3B |
0 |
$0 |
Robert B. Kirkpatrick |
Registered investment companies1 |
8 |
$2.5B |
1 |
$1.1B |
|
Other pooled investment vehicles |
4 |
$354.6M |
0 |
$0 |
|
Other accounts |
39 |
$2.3B |
0 |
$0 |
Rachel D. Matthews |
Registered investment companies1 |
8 |
$2.5B |
1 |
$1.1B |
|
Other pooled investment vehicles |
4 |
$354.6M |
0 |
$0 |
|
Other accounts |
39 |
$2.3B |
0 |
$0 |
Robert F. Fields |
Registered investment companies1 |
8 |
$2.5B |
1 |
$1.1B |
|
Other pooled investment vehicles |
4 |
$354.6M |
0 |
$0 |
|
Other accounts |
39 |
$2.3B |
0 |
$0 |
Portfolio Manager |
|
No. of
accounts |
Total assets |
No. of accounts with
performance-based
fees |
Total assets in
accounts with
performance-based
fees |
William A. Teichner |
Registered investment companies1 |
1 |
$1.1B |
1 |
$1.1B |
|
Other pooled investment vehicles |
1 |
$143.6M |
0 |
$0 |
|
Other accounts |
23 |
$1.6B |
0 |
$0 |
Rushan Jiang |
Registered investment companies1 |
1 |
$1.1B |
1 |
$1.1B |
|
Other pooled investment vehicles |
1 |
$143.6M |
0 |
$0 |
|
Other accounts |
23 |
$1.6B |
0 |
$0 |
Portfolio Manager |
|
No. of
accounts |
Total assets |
No. of accounts with
performance-based
fees |
Total assets in
accounts with
performance-based
fees |
John W. Rogers, Jr. |
Registered investment companies1 |
5 |
$5B |
1 |
$1.1B |
|
Other pooled investment vehicles |
0 |
$0 |
0 |
$0 |
|
Other accounts |
142 |
$4.3B |
1 |
$91.4M |
Kenneth E. Kuhrt |
Registered investment companies1 |
3 |
$3.8B |
1 |
$1.1B |
|
Other pooled investment vehicles |
0 |
$0 |
0 |
$0 |
|
Other accounts |
55 |
$2.3B |
0 |
$0 |
Vanguard Fund |
2020 |
2021 |
2022 |
Vanguard Short-Term Treasury Index Fund |
$253,000 |
$345,000 |
$331,000 |
Vanguard Intermediate-Term Treasury Index Fund |
205,000 |
269,000 |
258,000 |
Vanguard Long-Term Treasury Index Fund |
80,000 |
136,000 |
140,000 |
Vanguard Short-Term Corporate Bond Index Fund |
995,000 |
1,035,000 |
925,000 |
Vanguard Intermediate-Term Corporate Bond Index Fund |
816,000 |
1,054,000 |
976,000 |
Vanguard Long-Term Corporate Bond Index Fund |
139,000 |
144,000 |
104,000 |
Vanguard Mortgage-Backed Securities Index Fund |
328,000 |
353,000 |
308,000 |
Vanguard Russell 1000 Index Fund |
467,000 |
693,000 |
636,000 |
Vanguard Russell 1000 Value Index Fund |
507,000 |
860,000 |
1,051,000 |
Vanguard Russell 1000 Growth Index Fund |
794,000 |
1,374,000 |
1,235,000 |
Vanguard Russell 2000 Index Fund |
362,000 |
711,000 |
828,000 |
Vanguard Russell 2000 Value Index Fund |
55,000 |
128,000 |
108,000 |
Vanguard Russell 2000 Growth Index Fund |
116,000 |
199,000 |
93,000 |
Vanguard Russell 3000 Index Fund |
191,000 |
301,000 |
223,000 |
Portfolio Manager |
|
No. of
accounts |
Total assets |
No. of accounts with
performance-based
fees |
Total assets in
accounts with
performance-based
fees |
Joshua C. Barrickman |
Registered investment companies1 |
24 |
$1.08T |
0 |
$0 |
|
Other pooled investment vehicles |
15 |
$19B |
0 |
$0 |
|
Other accounts |
0 |
$0 |
0 |
$0 |
Nick Birkett |
Registered investment companies |
10 |
$96B |
0 |
$0 |
|
Other pooled investment vehicles |
4 |
$10B |
0 |
$0 |
|
Other accounts |
0 |
$0 |
0 |
$0 |
Walter Nejman |
Registered investment companies2 |
44 |
$2.42T |
0 |
$0 |
|
Other pooled investment vehicles |
16 |
$111B |
0 |
$0 |
|
Other accounts |
0 |
$0 |
0 |
$0 |
Vanguard Fund |
Securities Lending Activities |
Vanguard Explorer Value Fund |
|
Gross income from securities lending activities |
$1,752 |
Fees paid to securities lending agent from a revenue split |
$0 |
Fees paid for any cash collateral management service (including fees deducted from a pooled cash
collateral reinvestment vehicle) that are not included in the revenue split |
$12 |
Administrative fees not included in revenue split |
$23 |
Indemnification fee not included in revenue split |
$0 |
Rebate (paid to borrower) |
$734 |
Other fees not included in revenue split (specify) |
$0 |
Aggregate fees/compensation for securities lending activities |
$769 |
Net income from securities lending activities |
$983 |
Vanguard Russell 1000 Growth Index Fund |
|
Gross income from securities lending activities |
$506,802 |
Fees paid to securities lending agent from a revenue split |
$0 |
Fees paid for any cash collateral management service (including fees deducted from a pooled cash
collateral reinvestment vehicle) that are not included in the revenue split |
$356 |
Administrative fees not included in revenue split |
$11,459 |
Indemnification fee not included in revenue split |
$0 |
Rebate (paid to borrower) |
$1,097 |
Other fees not included in revenue split (specify) |
$0 |
Aggregate fees/compensation for securities lending activities |
$12,912 |
Net income from securities lending activities |
$493,890 |
Vanguard Russell 1000 Index Fund |
|
Gross income from securities lending activities |
$207,694 |
Fees paid to securities lending agent from a revenue split |
$0 |
Fees paid for any cash collateral management service (including fees deducted from a pooled cash
collateral reinvestment vehicle) that are not included in the revenue split |
$145 |
Administrative fees not included in revenue split |
$4,748 |
Indemnification fee not included in revenue split |
$0 |
Rebate (paid to borrower) |
$282 |
Other fees not included in revenue split (specify) |
$0 |
Aggregate fees/compensation for securities lending activities |
$5,175 |
Net income from securities lending activities |
$202,519 |
Vanguard Fund |
Securities Lending Activities |
Vanguard Russell 1000 Value Index Fund |
|
Gross income from securities lending activities |
$275,294 |
Fees paid to securities lending agent from a revenue split |
$0 |
Fees paid for any cash collateral management service (including fees deducted from a pooled cash
collateral reinvestment vehicle) that are not included in the revenue split |
$294 |
Administrative fees not included in revenue split |
$6,038 |
Indemnification fee not included in revenue split |
$0 |
Rebate (paid to borrower) |
$461 |
Other fees not included in revenue split (specify) |
$0 |
Aggregate fees/compensation for securities lending activities |
$6,793 |
Net income from securities lending activities |
$268,501 |
Vanguard Russell 2000 Growth Index Fund |
|
Gross income from securities lending activities |
$1,281,433 |
Fees paid to securities lending agent from a revenue split |
$0 |
Fees paid for any cash collateral management service (including fees deducted from a pooled cash
collateral reinvestment vehicle) that are not included in the revenue split |
$1,133 |
Administrative fees not included in revenue split |
$30,638 |
Indemnification fee not included in revenue split |
$0 |
Rebate (paid to borrower) |
$6,368 |
Other fees not included in revenue split (specify) |
$0 |
Aggregate fees/compensation for securities lending activities |
$38,139 |
Net income from securities lending activities |
$1,243,294 |
Vanguard Russell 2000 Index Fund |
|
Gross income from securities lending activities |
$6,071,234 |
Fees paid to securities lending agent from a revenue split |
$0 |
Fees paid for any cash collateral management service (including fees deducted from a pooled cash
collateral reinvestment vehicle) that are not included in the revenue split |
$6,551 |
Administrative fees not included in revenue split |
$135,135 |
Indemnification fee not included in revenue split |
$0 |
Rebate (paid to borrower) |
$52,466 |
Other fees not included in revenue split (specify) |
$0 |
Aggregate fees/compensation for securities lending activities |
$194,152 |
Net income from securities lending activities |
$5,877,082 |
Vanguard Russell 2000 Value Index Fund |
|
Gross income from securities lending activities |
$528,149 |
Fees paid to securities lending agent from a revenue split |
$0 |
Fees paid for any cash collateral management service (including fees deducted from a pooled cash
collateral reinvestment vehicle) that are not included in the revenue split |
$739 |
Administrative fees not included in revenue split |
$11,237 |
Indemnification fee not included in revenue split |
$0 |
Rebate (paid to borrower) |
$2,744 |
Other fees not included in revenue split (specify) |
$0 |
Aggregate fees/compensation for securities lending activities |
$14,720 |
Net income from securities lending activities |
$513,429 |
Vanguard Fund |
Securities Lending Activities |
Vanguard Russell 3000 Index Fund |
|
Gross income from securities lending activities |
$150,673 |
Fees paid to securities lending agent from a revenue split |
$0 |
Fees paid for any cash collateral management service (including fees deducted from a pooled cash
collateral reinvestment vehicle) that are not included in the revenue split |
$65 |
Administrative fees not included in revenue split |
$3,204 |
Indemnification fee not included in revenue split |
$0 |
Rebate (paid to borrower) |
$88 |
Other fees not included in revenue split (specify) |
$0 |
Aggregate fees/compensation for securities lending activities |
$3,357 |
Net income from securities lending activities |
$147,316 |
Vanguard Fund |
2020 |
2021 |
2022 |
Vanguard Explorer Value Fund1 |
$521,000 |
$767,000 |
$466,000 |
Vanguard Intermediate-Term Corporate Bond Index Fund2 |
91,000 |
78,000 |
128,000 |
Vanguard Intermediate-Term Treasury Index Fund |
— |
— |
Less than 1,000 |
Vanguard Long-Term Corporate Bond Index Fund |
11,000 |
9,000 |
4,000 |
Vanguard Long-Term Treasury Index Fund |
Less than 1,000 |
Less than 1,000 |
— |
Vanguard Mortgage-Backed Securities Index Fund |
1,000 |
— |
1,000 |
Vanguard Russell 1000 Growth Index Fund |
26,000 |
32,000 |
33,000 |
Vanguard Russell 1000 Index Fund3 |
20,000 |
21,000 |
37,000 |
Vanguard Russell 1000 Value Index Fund |
51,000 |
54,000 |
59,000 |
Vanguard Russell 2000 Growth Index Fund3 |
41,000 |
63,000 |
70,000 |
Vanguard Russell 2000 Index Fund3 |
178,000 |
157,000 |
426,000 |
Vanguard Russell 2000 Value Index Fund3 |
42,000 |
52,000 |
73,000 |
Vanguard Russell 3000 Index Fund3 |
12,000 |
17,000 |
26,000 |
Vanguard Short-Term Corporate Bond Index Fund4 |
127,000 |
75,000 |
77,000 |
Vanguard Short-Term Treasury Index Fund |
— |
— |
— |
Vanguard Total Corporate Bond ETF |
— |
— |
— |
Vanguard Total World Bond ETF |
— |
$— |
— |
Vanguard Fund |
Regular Broker or Dealer (or Parent) |
Aggregate Holdings |
Vanguard Explorer Value Fund |
— |
— |
Vanguard Intermediate-Term Corporate Bond Index Fund |
Barclays Capital Inc. |
$233,029,000 |
|
Citigroup Global Markets Inc. |
720,663,000 |
|
Credit Suisse Securities (USA) LLC |
13,399,000 |
|
Deutsche Bank Fixed Income Securities |
51,939,000 |
|
Goldman Sachs & Co. LLC |
533,971,000 |
|
HSBC Securities |
510,579,000 |
|
J.P. Morgan Securities LLC |
1,237,263,000 |
|
Merrill Lynch, Pierce, Fenner & Smith Inc. |
1,528,891,000 |
|
Morgan Stanley & Co. LLC |
786,713,000 |
|
Wells Fargo Securities, LLC |
359,983,000 |
Vanguard Intermediate-Term Treasury Index Fund |
— |
— |
Vanguard Long-Term Corporate Bond Index Fund |
Barclays Capital, Inc. |
10,145,000 |
|
Citigroup Global Markets Inc. |
39,224,000 |
|
Credit Suisse Securities (USA) LLC |
3,937,000 |
|
Goldman Sachs & Co. LLC |
59,787,000 |
|
HSBC Securities |
23,368,000 |
|
J.P. Morgan Securities LLC |
69,788,000 |
|
Merrill Lynch, Pierce, Fenner & Smith Inc. |
78,117,000 |
|
Morgan Stanley & Co. LLC |
34,969,000 |
|
Wells Fargo Securities, LLC |
68,329,000 |
Vanguard Long-Term Treasury Index Fund |
— |
— |
Vanguard Mortgage-Backed Securities Index Fund |
— |
— |
Vanguard Russell 1000 Growth Index Fund |
— |
— |
Vanguard Russell 1000 Index Fund |
Citigroup Global Markets Inc. |
12,686,000 |
|
Goldman, Sachs & Co. |
14,595,000 |
|
J.P. Morgan Securities Inc. |
43,757,000 |
|
Merrill Lynch, Pierce, Fenner & Smith Inc. |
31,136,000 |
|
Morgan Stanley |
14,346,000 |
|
Wells Fargo Securities, LLC |
21,869,000 |
Vanguard Russell 1000 Value Index Fund |
Citigroup Global Markets Inc. |
40,034,000 |
|
Goldman, Sachs & Co. |
46,057,000 |
|
Merrill Lynch, Pierce, Fenner & Smith Inc. |
98,312,000 |
|
Morgan Stanley |
45,274,000 |
|
Wells Fargo Securities, LLC |
68,973,000 |
Vanguard Russell 2000 Growth Index Fund |
— |
— |
Vanguard Russell 2000 Index Fund |
— |
— |
Vanguard Russell 2000 Value Index Fund |
— |
— |
Vanguard Russell 3000 Index Fund |
Citigroup Global Markets Inc. |
6,480,000 |
|
Goldman, Sachs & Co. |
7,441,000 |
|
J.P. Morgan Securities Inc. |
22,341,000 |
|
Merrill Lynch, Pierce, Fenner & Smith Inc. |
15,892,000 |
|
Morgan Stanley |
9,321,000 |
|
Wells Fargo Securities, LLC |
11,164,000 |
Vanguard Fund |
Regular Broker or Dealer (or Parent) |
Aggregate Holdings |
Vanguard Short-Term Corporate Bond Index Fund |
Barclays Capital Inc. |
173,174,000 |
|
Citigroup Global Markets Inc. |
552,310,000 |
|
Credit Suisse Securities (USA) LLC |
101,684,000 |
|
Goldman Sachs & Co. LLC |
1,393,085,000 |
|
HSBC Securities |
501,353,000 |
|
J.P. Morgan Securities LLC |
1,100,543,000 |
|
Merrill Lynch, Pierce, Fenner & Smith Inc. |
1,478,814,000 |
|
Morgan Stanley & Co. LLC |
739,745,000 |
|
TD Securities |
181,297,000 |
|
Wells Fargo Securities, LLC |
757,791,000 |
Vanguard Short-Term Treasury Index Fund |
— |
— |
Vanguard Total Corporate Bond ETF |
— |
— |
Vanguard Total World Bond ETF |
— |
— |
Country |
JAN |
FEB |
MAR |
APR |
MAY |
JUN |
JUL |
AUG |
SEP |
OCT |
NOV |
DEC |
Albania |
3, 4 |
|
14, 22 |
18, 25 |
2 |
|
11 |
|
5 |
|
28, 29 |
8, 26 |
Argentina |
|
|
|
|
18 |
|
|
|
|
|
|
|
Australia |
3, 26 |
|
7, 14 |
15, 18,
19, 25 |
2, 30 |
6, 13 |
|
1, 10 |
23, 26 |
3 |
1 |
26, 27 |
Austria |
6 |
|
|
15, 18 |
26 |
6, 16 |
|
15 |
|
26 |
1 |
8, 26 |
Bahrain** |
2 |
|
|
|
1, 2, 3,
4 |
|
10, 11 |
7, 8 |
|
|
|
|
Bangladesh** |
|
21 |
17 |
14 |
1, 2, 3,
4, 15 |
|
10, 11 |
9, 15,
18 |
|
5, 9 |
|
25 |
Belgium |
|
|
|
15, 18 |
|
|
|
|
|
|
|
26 |
Benin |
|
|
|
18 |
2, 3,
26 |
6 |
11 |
8, 15 |
|
|
1, 15 |
26 |
Bermuda |
3 |
|
|
15 |
27 |
20 |
28, 29 |
|
5 |
|
11 |
26, 27 |
Bosnia and
Herzegovina, Fed. of |
3 |
28 |
1 |
18 |
2, 3 |
|
|
|
|
|
25 |
26 |
Botswana |
3, 4 |
|
|
15, 18 |
2, 26 |
|
1, 18,
19 |
|
30 |
|
|
26, 27 |
Brazil |
25 |
28 |
1, 2 |
15, 21 |
|
16 |
|
|
7 |
12 |
2, 15 |
|
Bulgaria |
3 |
|
3 |
15, 18,
22, 25 |
2, 6,
24 |
|
|
|
6, 22 |
|
|
26, 27,
28 |
Burkina Faso |
|
|
|
18 |
2, 3,
26 |
6 |
11 |
8, 15 |
|
|
1, 15 |
26 |
Canada |
3, 4 |
21 |
|
15 |
23 |
24 |
1 |
1 |
5, 30 |
10 |
11 |
26, 27 |
Chile |
|
|
|
15 |
|
21, 27 |
|
15 |
19 |
10, 31 |
1 |
8 |
China |
3, 31 |
1, 2, 3,
4 |
|
4, 5 |
2, 3, 4 |
3 |
|
|
12 |
3, 4, 5,
6, 7 |
|
|
China Connect - Bond
Connect |
3, 31 |
1, 2, 3,
4 |
|
4, 5 |
2, 3, 4 |
3 |
|
|
12 |
3, 4, 5,
6, 7 |
|
|
China Connect - Stock
Connect |
3, 31 |
1, 2, 3,
4 |
|
4, 5,
14, 15,
18 |
2, 3, 4,
6, 9 |
3, 30 |
1 |
|
12 |
3, 4, 5,
6, 7 |
|
23, 26,
27 |
Colombia |
10 |
|
21 |
14, 15 |
30 |
20, 27 |
4, 20 |
15 |
|
17 |
7, 14 |
8 |
Croatia |
6 |
|
|
15, 18 |
30 |
16, 22 |
|
5, 15 |
|
|
1, 18 |
26 |
Cyprus |
6 |
|
7, 25 |
1, 15,
18, 22,
25, 26 |
|
13 |
|
15 |
|
28 |
|
26 |
Country |
JAN |
FEB |
MAR |
APR |
MAY |
JUN |
JUL |
AUG |
SEP |
OCT |
NOV |
DEC |
Czech Republic |
|
|
|
15, 18 |
|
|
5, 6 |
|
28 |
28 |
17 |
26 |
Denmark |
|
|
|
14, 15,
18 |
13, 26,
27 |
6 |
|
|
|
|
|
26 |
Egypt** |
6, 27 |
|
|
|
|
|
|
|
|
|
|
|
Estonia |
|
24 |
|
15, 18 |
26 |
23, 24 |
|
|
|
|
|
26 |
Eswatini |
|
|
|
15, 18,
19, 25 |
2, 26 |
|
22 |
29 |
6 |
|
|
26, 27 |
Finland |
6 |
|
|
15, 18 |
26 |
24 |
|
|
|
|
|
6, 26 |
France |
|
|
|
15, 18 |
|
|
|
|
|
|
|
26 |
Georgia, Republic of |
7, 19 |
|
3, 8 |
22, 25 |
9, 12,
26 |
|
|
|
|
14 |
23 |
|
Germany |
|
|
|
15, 18 |
26 |
6 |
|
|
|
3 |
|
26 |
Ghana |
3, 7 |
|
7 |
15, 18 |
2, 25 |
|
1 |
|
21 |
|
|
2, 26,
27 |
Greece |
6, 25 |
|
7, 25 |
15, 18,
22, 25 |
|
13 |
|
15 |
|
28 |
|
26 |
Guinea-Bissau |
|
|
|
18 |
2, 3,
26 |
6 |
11 |
8, 15 |
|
|
1, 15 |
26 |
Hong Kong |
|
1, 2, 3 |
|
5, 15,
18 |
2, 9 |
3 |
1 |
|
12 |
4 |
|
26, 27 |
Hungary |
|
|
14, 15 |
15, 18 |
|
6 |
|
|
|
31 |
1 |
26 |
Iceland |
|
|
|
14, 15,
18, 21 |
26 |
6, 17 |
|
1 |
|
|
|
26 |
India |
26 |
|
1, 18 |
1, 14,
15 |
3, 16 |
|
|
9, 15,
16, 31 |
|
5, 24,
26 |
8 |
|
Indonesia |
|
1, 28 |
3 |
15 |
2, 3,
16, 26 |
1 |
|
17 |
|
|
|
|
Ireland |
3 |
|
|
15, 18 |
2 |
|
|
|
|
|
|
23, 26,
27, 30 |
Israel** |
|
|
17 |
17-21,
17-20,
21 |
4, 5 |
5 |
|
7 |
25, 26,
27 |
4, 5, 9,
10, 11,
12, 13,
16, 17 |
|
|
Italy |
|
|
|
15, 18 |
|
|
|
|
|
|
|
26 |
Ivory Coast |
|
|
|
18 |
2, 3,
26 |
6 |
11 |
8, 15 |
|
|
1, 15 |
26 |
Japan |
3, 10 |
11, 23 |
21 |
29 |
3, 4, 5 |
|
18 |
11 |
19, 23 |
10 |
3, 23 |
|
Jordan** |
|
|
|
|
1, 2, 3,
4, 25 |
|
10, 11,
12 |
|
|
|
|
25 |
Kazakhstan |
3, 4, 6,
7 |
|
7, 8,
21-23 |
|
2, 9,
10 |
|
6 |
29, 30 |
|
|
|
1, 16,
19 |
Kenya |
|
|
|
15, 18 |
2 |
1 |
|
|
|
10 |
|
12, 26,
27 |
Korea, Republic of |
31 |
1, 2 |
1, 9 |
|
5 |
1, 6 |
|
15 |
9, 12 |
3, 10 |
|
|
Kuwait** |
|
25 |
1 |
|
2, 3, 4 |
|
10, 11 |
|
|
|
|
|
Latvia |
|
|
|
15, 18 |
4, 26 |
23, 24 |
|
|
|
|
18 |
26 |
Lithuania |
|
16 |
11 |
15, 18 |
26 |
24 |
6 |
15 |
|
|
1, 2 |
26 |
Luxembourg |
|
|
|
15, 18 |
9, 26 |
6, 23 |
|
15 |
|
|
1 |
26 |
Malawi |
3, 17 |
|
3 |
15, 18 |
2, 16 |
|
6 |
|
|
17 |
|
26, 27 |
Malaysia |
18 |
1, 2 |
|
19 |
|
6 |
|
31 |
16 |
24 |
|
|
Mali |
|
|
|
18 |
2, 3,
26 |
6 |
11 |
8, 15 |
|
|
1, 15 |
26 |
Mauritius |
3, 18 |
1 |
1 |
|
3 |
|
|
15 |
1 |
24 |
2 |
|
Mexico |
|
7 |
21 |
14, 15 |
|
|
|
|
16 |
|
2, 21 |
12 |
Morocco |
11 |
|
|
|
2, 3 |
|
11 |
|
|
7 |
18 |
|
Namibia |
|
|
21 |
15, 18,
27 |
2, 4,
25, 26 |
16 |
|
9, 26 |
|
|
|
16, 26 |
Country |
JAN |
FEB |
MAR |
APR |
MAY |
JUN |
JUL |
AUG |
SEP |
OCT |
NOV |
DEC |
Netherlands |
|
|
|
15, 18 |
|
|
|
|
|
|
|
26 |
New Zealand |
3, 4 |
7 |
|
15, 18,
25 |
|
6, 24 |
|
|
|
24 |
|
26, 27 |
Niger |
|
|
|
18 |
2, 3,
26 |
6 |
11 |
8, 15 |
|
|
1, 15 |
26 |
Nigeria |
3 |
|
|
15, 18 |
2, 3,
30 |
13 |
11 |
|
|
3 |
|
26, 27 |
Norway |
|
|
|
13, 14,
15, 18 |
17, 26 |
6 |
|
|
|
|
|
26 |
Oman** |
11 |
|
1 |
3 |
2 |
|
31 |
|
|
9 |
18 |
|
Pakistan |
3 |
|
23 |
4, 29 |
3, 4, 5,
6 |
|
1, 11,
12 |
8 |
|
|
|
|
Panama |
10 |
28 |
1, 2 |
14, 15 |
2 |
|
|
|
|
|
3, 4,
10, 28 |
8, 26 |
Peru |
|
|
|
14, 15 |
|
29 |
28 |
30 |
|
|
1 |
8 |
Philippines |
|
1, 25 |
|
14, 15 |
|
|
|
29 |
|
|
1, 2,
30 |
8, 30 |
Poland |
6 |
|
|
15, 18 |
3 |
16 |
|
15 |
|
|
1, 11 |
26 |
Portugal |
|
|
|
15, 18 |
|
|
|
|
|
|
|
26 |
Qatar** |
|
8 |
6 |
|
3, 4, 5 |
|
10, 11,
12 |
|
|
|
|
18 |
Romania |
24 |
|
|
22, 25 |
|
1, 13 |
|
15 |
|
|
30 |
1 |
Russia |
7 |
23 |
8 |
|
2, 9 |
13 |
|
|
|
|
4 |
|
Saudi Arabia** |
|
|
|
|
1, 2, 3,
4 |
|
10, 11,
12 |
|
|
|
|
|
Senegal |
|
|
|
18 |
2, 3,
26 |
6 |
11 |
8, 15 |
|
|
1, 15 |
26 |
Serbia |
3, 7 |
15, 16 |
|
22, 25 |
2, 3 |
|
|
|
|
|
11 |
30 |
Singapore |
|
1, 2 |
|
15 |
2, 3,
16 |
|
11 |
9 |
|
24 |
|
26 |
Slovak Republic |
6 |
|
|
15, 18 |
|
|
5 |
29 |
1, 15 |
|
1, 17 |
26 |
Slovenia |
|
8 |
|
15, 18,
27 |
2 |
|
|
15 |
|
31 |
1 |
26 |
South Africa |
|
|
21 |
15, 18,
27 |
2 |
16 |
|
9 |
|
|
|
16, 25 |
Spain |
|
|
|
15, 18 |
|
|
|
|
|
|
|
26 |
Sri Lanka |
14, 17 |
4, 16 |
1, 17 |
13, 14,
15 |
2, 3,
16 |
14 |
13 |
11 |
|
10, 24 |
7 |
7, 26 |
Srpska, Republic of |
3, 6, 7 |
|
|
22, 25 |
2, 9 |
|
|
|
|
|
21 |
|
Sweden |
5, 6 |
|
|
14, 15,
18 |
25, 26 |
6, 24 |
|
|
|
|
4 |
26 |
Switzerland |
|
|
|
15, 18 |
26 |
6 |
|
1 |
|
|
|
26 |
Taiwan |
27, 28,
31 |
1-4, 28 |
|
4, 5 |
2 |
3 |
|
|
9 |
10 |
|
|
Tanzania |
12 |
|
|
7, 15,
18, 26 |
2, 3 |
|
7 |
8 |
|
14 |
|
9, 26 |
Thailand |
3 |
16 |
|
6, 13,
14, 15 |
2, 4,
16 |
3 |
13, 28,
29 |
12 |
|
13, 14,
24 |
|
5, 12 |
Togo |
|
|
|
18 |
2, 3,
26 |
6 |
11 |
8, 15 |
|
|
1, 15 |
26 |
Tunisia |
|
|
|
|
2, 3, 4 |
|
25 |
|
|
|
|
|
Turkey |
|
|
|
|
2, 3, 4,
19 |
|
8, 11,
12, 15 |
30 |
|
28 |
|
|
Uganda |
26 |
16 |
8 |
15, 18 |
2 |
3, 9 |
|
|
|
|
30 |
26 |
Ukraine |
3, 7 |
|
8 |
25 |
2, 9 |
13, 28 |
|
24 |
|
14 |
|
26 |
United Arab Emirates -
DIFC** |
|
|
|
|
1, 2, 3 |
|
11 |
|
|
|
|
1, 2 |
Country |
JAN |
FEB |
MAR |
APR |
MAY |
JUN |
JUL |
AUG |
SEP |
OCT |
NOV |
DEC |
United Kingdom |
3 |
|
|
15, 18 |
2 |
2, 3 |
|
29 |
|
|
|
23, 26,
27, 30 |
United States |
17 |
21 |
|
15 |
30 |
20 |
4 |
|
5 |
10 |
11, 24,
25 |
26 |
Vietnam |
3, 31 |
1-4 |
|
11 |
2, 3 |
|
|
|
1, 2 |
|
|
|
Zambia |
|
|
8 |
15, 18 |
2, 25 |
|
4, 5 |
1 |
|
18, 24 |
|
26 |
Zimbabwe |
|
|
|
15, 18 |
2, 25 |
|
|
8, 9 |
|
|
|
22, 26,
27 |
Argentina |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
No settlement cycles (˃=): T+7 |
Australia |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
No settlement cycles (˃=): T+7 |
Austria |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
No settlement cycles (˃=): T+7 |
Bahrain |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
07/10/2022 |
07/17/2022 |
T+7 |
07/11/2022 |
07/18/2022 |
T+7 |
Bangladesh |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
No settlement cycles (˃=): T+7 |
Belgium |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
No settlement cycles (˃=): T+7 |
Bermuda |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
No settlement cycles (˃=): T+7 |
Botswana |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
04/11/2022 |
04/19/2022 |
T+8 |
04/12/2022 |
04/20/2022 |
T+8 |
04/13/2022 |
04/21/2022 |
T+8 |
04/14/2022 |
04/22/2022 |
T+8 |
05/20/2022 |
05/30/2022 |
T+10 |
05/23/2022 |
05/31/2022 |
T+8 |
05/24/2022 |
06/01/2022 |
T+8 |
06/27/2022 |
07/04/2022 |
T+7 |
06/28/2022 |
07/05/2022 |
T+7 |
06/29/2022 |
07/06/2022 |
T+7 |
06/30/2022 |
07/07/2022 |
T+7 |
07/12/2022 |
07/19/2022 |
T+7 |
07/13/2022 |
07/20/2022 |
T+7 |
07/14/2022 |
07/21/2022 |
T+7 |
Botswana |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
07/15/2022 |
07/22/2022 |
T+7 |
09/26/2022 |
10/03/2022 |
T+7 |
09/27/2022 |
10/04/2022 |
T+7 |
09/28/2022 |
10/05/2022 |
T+7 |
09/29/2022 |
10/07/2022 |
T+8 |
12/20/2022 |
12/27/2022 |
T+7 |
12/21/2022 |
12/28/2022 |
T+7 |
12/22/2022 |
12/29/2022 |
T+7 |
12/23/2022 |
12/33/2022 |
T+7 |
Brazil |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
02/23/2022 |
03/02/2022 |
T+7 |
02/24/2022 |
03/03/2022 |
T+7 |
02/25/2022 |
03/04/2022 |
T+7 |
Bulgaria |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
12/22/2022 |
12/30/2022 |
T+8 |
12/23/2022 |
12/31/2022 |
T+8 |
Canada |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
No settlement cycles (˃=): T+7 |
Chile |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
No settlement cycles (˃=): T+7 |
China A-Share |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
No settlement cycles (˃=): T+7 |
China B-Share |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
01/26/2022 |
02/07/2022 |
T+12 |
01/27/2022 |
02/08/2022 |
T+12 |
01/28/2022 |
02/09/2022 |
T+12 |
03/30/2022 |
04/06/2022 |
T+7 |
03/31/2022 |
04/07/2022 |
T+7 |
04/01/2022 |
04/08/2022 |
T+7 |
04/27/2022 |
05/05/2022 |
T+8 |
04/28/2022 |
05/06/2022 |
T+8 |
04/29/2022 |
05/09/2022 |
T+10 |
09/28/2022 |
10/11/2022 |
T+13 |
09/29/2022 |
10/12/2022 |
T+13 |
09/30/2022 |
10/13/2022 |
T+13 |
China Connect |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
No settlement cycles (˃=): T+7 |
Colombia |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
04/11/2022 |
04/18/2022 |
T+7 |
04/12/2022 |
04/19/2022 |
T+7 |
Colombia |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
04/13/2022 |
04/20/2022 |
T+7 |
Costa Rica |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
No settlement cycles (˃=): T+7 |
Croatia |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
No settlement cycles (˃=): T+7 |
Cyprus |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
04/13/2022 |
04/20/2022 |
T+7 |
04/14/2022 |
04/21/2022 |
T+7 |
04/20/2022 |
04/27/2022 |
T+7 |
04/21/2022 |
04/28/2022 |
T+7 |
Czech Republic |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
No settlement cycles (˃=): T+7 |
Denmark |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
04/12/2022 |
04/19/2022 |
T+7 |
04/13/2022 |
04/20/2022 |
T+7 |
Egypt |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
No settlement cycles (˃=): T+7 |
Estonia |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
No settlement cycles (˃=): T+7 |
Finland |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
No settlement cycles (˃=): T+7 |
France |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
No settlement cycles (˃=): T+7 |
Germany |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
No settlement cycles (˃=): T+7 |
Ghana |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
04/12/2022 |
04/19/2022 |
T+7 |
04/13/2022 |
04/20/2022 |
T+7 |
04/14/2022 |
04/21/2022 |
T+7 |
12/21/2022 |
12/28/2022 |
T+7 |
12/22/2022 |
12/29/2022 |
T+7 |
12/23/2022 |
12/30/2022 |
T+7 |
Greece |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
No settlement cycles (˃=): T+7 |
Hong Kong - Equity |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
01/27/2022 |
02/04/2022 |
T+8 |
01/28/2022 |
02/07/2022 |
T+10 |
Hong Kong - Corporate/Government Debt |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
01/27/2022 |
02/04/2022 |
T+8 |
01/28/2022 |
02/07/2022 |
T+10 |
Hungary |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
No settlement cycles (˃=): T+7 |
Iceland |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
04/12/2022 |
04/19/2022 |
T+7 |
04/13/2022 |
04/20/2022 |
T+7 |
India |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
No settlement cycles (˃=): T+7 |
Indonesia - Equity |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
No settlement cycles (˃=): T+7 |
Indonesia - Corporate/Government Debt |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
No settlement cycles (˃=): T+7 |
Ireland |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
No settlement cycles (˃=): T+7 |
Israel |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
04/14/2022 |
04/22/2022 |
T+8 |
04/15/2022 |
04/25/2022 |
T+10 |
Italy |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
No settlement cycles (˃=): T+7 |
Japan - Equity |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
04/29/2022 |
05/06/2022 |
T+7 |
05/02/2022 |
05/09/2022 |
T+7 |
Japan - Corporate/Government Debt |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
04/29/2022 |
05/06/2022 |
T+7 |
05/02/2022 |
05/09/2022 |
T+7 |
Jordan |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
No settlement cycles (˃=): T+7 |
Kazakhstan |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
03/16/2022 |
03/24/2022 |
T+8 |
03/17/2022 |
03/25/2022 |
T+8 |
03/18/2022 |
03/28/2022 |
T+10 |
05/04/2022 |
05/11/2022 |
T+7 |
05/05/2022 |
05/12/2022 |
T+7 |
05/06/2022 |
05/13/2022 |
T+7 |
12/13/2022 |
12/20/2022 |
T+7 |
12/14/2022 |
12/21/2022 |
T+7 |
12/15/2022 |
12/22/2022 |
T+7 |
Kenya |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
04/12/2022 |
04/19/2022 |
T+7 |
04/13/2022 |
04/20/2022 |
T+7 |
04/14/2022 |
04/21/2022 |
T+7 |
Kuwait |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
04/27/2022 |
05/05/2022 |
T+8 |
04/28/2022 |
05/06/2022 |
T+8 |
04/29/2022 |
05/09/2022 |
T+10 |
07/06/2022 |
07/13/2022 |
T+7 |
07/07/2022 |
07/14/2022 |
T+7 |
Latvia |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
No settlement cycles (˃=): T+7 |
Lithuania |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
04/12/2022 |
04/19/2022 |
T+7 |
04/13/2022 |
04/20/2022 |
T+7 |
04/14/2022 |
04/21/2022 |
T+7 |
10/27/2022 |
11/03/2022 |
T+7 |
10/28/2022 |
11/04/2022 |
T+7 |
10/31/2022 |
11/07/2022 |
T+7 |
Luxembourg |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
No settlement cycles (˃=): T+7 |
Malawi |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
04/12/2022 |
04/19/2022 |
T+7 |
04/13/2022 |
04/20/2022 |
T+7 |
04/14/2022 |
04/21/2022 |
T+7 |
04/27/2022 |
05/04/2022 |
T+7 |
04/28/2022 |
05/05/2022 |
T+7 |
04/29/2022 |
05/06/2022 |
T+7 |
Malaysia |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
No settlement cycles (˃=): T+7 |
Mauritius |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
No settlement cycles (˃=): T+7 |
Mexico |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
No settlement cycles (˃=): T+7 |
Morocco |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
04/27/2022 |
05/04/2022 |
T+7 |
04/28/2022 |
05/05/2022 |
T+7 |
04/29/2022 |
05/06/2022 |
T+7 |
Namibia |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
03/14/2022 |
03/22/2022 |
T+8 |
03/15/2022 |
03/23/2022 |
T+8 |
03/16/2022 |
03/24/2022 |
T+8 |
03/17/2022 |
03/25/2022 |
T+8 |
03/18/2022 |
03/28/2022 |
T+10 |
04/08/2022 |
04/19/2022 |
T+11 |
04/11/2022 |
04/20/2022 |
T+9 |
04/12/2022 |
04/21/2022 |
T+9 |
04/13/2022 |
04/22/2022 |
T+9 |
04/14/2022 |
04/25/2022 |
T+11 |
04/18/2022 |
04/25/2022 |
T+8 |
04/19/2022 |
04/26/2022 |
T+8 |
04/20/2022 |
04/28/2022 |
T+8 |
04/21/2022 |
04/29/2022 |
T+8 |
04/22/2022 |
05/02/2022 |
T+10 |
04/25/2022 |
05/03/2022 |
T+8 |
04/26/2022 |
05/05/2022 |
T+9 |
04/27/2022 |
05/06/2022 |
T+9 |
04/28/2022 |
05/09/2022 |
T+11 |
04/29/2022 |
05/10/2022 |
T+11 |
05/18/2022 |
05/27/2022 |
T+9 |
05/19/2022 |
05/30/2022 |
T+11 |
05/20/2022 |
05/31/2022 |
T+11 |
05/23/2022 |
06/01/2022 |
T+9 |
05/24/2022 |
06/02/2022 |
T+9 |
06/09/2022 |
06/17/2022 |
T+8 |
06/10/2022 |
06/20/2022 |
T+10 |
06/13/2022 |
06/21/2022 |
T+8 |
06/14/2022 |
06/22/2022 |
T+8 |
06/15/2022 |
06/23/2022 |
T+8 |
08/02/2022 |
08/10/2022 |
T+8 |
08/03/2022 |
08/11/2022 |
T+8 |
08/04/2022 |
08/12/2022 |
T+8 |
08/05/2022 |
08/15/2022 |
T+10 |
08/19/2022 |
08/29/2022 |
T+10 |
08/22/2022 |
08/30/2022 |
T+8 |
08/23/2022 |
08/31/2022 |
T+8 |
08/24/2022 |
09/01/2022 |
T+8 |
08/25/2022 |
09/02/2022 |
T+8 |
12/09/2022 |
12/19/2022 |
T+10 |
Namibia |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
12/12/2022 |
12/20/2022 |
T+8 |
12/13/2022 |
12/21/2022 |
T+8 |
12/14/2022 |
12/22/2022 |
T+8 |
12/15/2022 |
12/23/2022 |
T+8 |
12/19/2022 |
12/27/2022 |
T+8 |
12/20/2022 |
12/28/2022 |
T+8 |
12/21/2022 |
12/29/2022 |
T+8 |
12/22/2022 |
12/30/2022 |
T+8 |
12/23/2022 |
12/31/2022 |
T+8 |
Netherlands |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
No settlement cycles (˃=): T+7 |
New Zealand |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
No settlement cycles (˃=): T+7 |
Nigeria |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
04/12/2022 |
04/19/2022 |
T+7 |
04/13/2022 |
04/20/2022 |
T+7 |
04/14/2022 |
04/21/2022 |
T+7 |
04/27/2022 |
05/05/2022 |
T+8 |
04/28/2022 |
05/06/2022 |
T+8 |
04/29/2022 |
05/09/2022 |
T+10 |
07/06/2022 |
07/13/2022 |
T+8 |
07/07/2022 |
07/14/2022 |
T+7 |
07/08/2022 |
07/15/2022 |
T+7 |
Norway |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
04/11/2022 |
04/19/2022 |
T+8 |
04/12/2022 |
04/20/2022 |
T+8 |
Oman |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
04/27/2022 |
05/06/2022 |
T+9 |
04/28/2022 |
05/09/2022 |
T+11 |
04/29/2022 |
05/10/2022 |
T+11 |
11/18/2022 |
11/25/2022 |
T+7 |
11/21/2022 |
11/28/2022 |
T+7 |
11/22/2022 |
11/29/2022 |
T+7 |
Pakistan |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
04/28/2022 |
05/06/2022 |
T+8 |
05/02/2022 |
05/09/2022 |
T+7 |
Panama |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
No settlement cycles (˃=): T+7 |
Peru |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
No settlement cycles (˃=): T+7 |
Philippines |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
04/11/2022 |
04/18/2022 |
T+7 |
04/12/2022 |
04/19/2022 |
T+7 |
04/13/2022 |
04/20/2022 |
T+7 |
Poland |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
No settlement cycles (˃=): T+7 |
Portugal |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
No settlement cycles (˃=): T+7 |
Qatar |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
04/28/2022 |
05/05/2022 |
T+7 |
04/29/2022 |
05/09/2022 |
T+10 |
05/02/2022 |
05/10/2022 |
T+8 |
Romania |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
No settlement cycles (˃=): T+7 |
Russia |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
03/02/2022 |
03/09/2022 |
T+7 |
03/03/2022 |
03/10/2022 |
T+7 |
03/04/2022 |
03/11/2022 |
T+7 |
04/27/2022 |
05/04/2022 |
T+7 |
04/28/2022 |
05/05/2022 |
T+7 |
04/29/2022 |
05/06/2022 |
T+7 |
05/04/2022 |
05/11/2022 |
T+7 |
05/05/2022 |
05/12/2022 |
T+7 |
05/06/2022 |
05/13/2022 |
T+7 |
Saudi Arabia |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
04/27/2022 |
05/06/2022 |
T+9 |
04/28/2022 |
05/09/2022 |
T+11 |
07/07/2022 |
07/15/2022 |
T+8 |
07/08/2022 |
07/18/2022 |
T+10 |
Serbia |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
No settlement cycles (˃=): T+7 |
Singapore |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
No settlement cycles (˃=): T+7 |
Slovak Republic |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
No settlement cycles (˃=): T+7 |
Slovenia |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
No settlement cycles (˃=): T+7 |
South Africa |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
04/12/2022 |
04/19/2022 |
T+7 |
04/13/2022 |
04/20/2022 |
T+7 |
04/14/2022 |
04/21/2022 |
T+7 |
South Korea |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
Spain |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
No settlement cycles (˃=): T+7 |
Sri Lanka |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
04/08/2022 |
04/18/2022 |
T+10 |
04/11/2022 |
04/19/2022 |
T+8 |
04/12/2022 |
04/20/2022 |
T+8 |
04/27/2022 |
05/04/2022 |
T+7 |
04/28/2022 |
05/05/2022 |
T+7 |
04/29/2022 |
05/06/2022 |
T+7 |
Sweden |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
04/12/2022 |
04/19/2022 |
T+7 |
04/13/2022 |
04/20/2022 |
T+7 |
Switzerland |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
No settlement cycles (˃=): T+7 |
Taiwan |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
01/28/2022 |
02/07/2022 |
T+10 |
01/31/2022 |
02/08/2022 |
T+8 |
Tanzania |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
04/28/2022 |
05/05/2022 |
T+7 |
04/29/2022 |
05/06/2022 |
T+7 |
05/02/2022 |
05/09/2022 |
T+7 |
Thailand |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
04/11/2022 |
04/18/2022 |
T+7 |
04/12/2022 |
04/19/2022 |
T+7 |
Tunisia |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
04/27/2022 |
05/05/2022 |
T+8 |
04/28/2022 |
05/06/2022 |
T+8 |
04/29/2022 |
05/09/2022 |
T+10 |
Turkey |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
04/28/2022 |
05/05/2022 |
T+7 |
04/29/2022 |
05/06/2022 |
T+7 |
07/06/2022 |
07/13/2022 |
T+7 |
07/07/2022 |
07/14/2022 |
T+7 |
Uganda |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
04/12/2022 |
04/19/2022 |
T+7 |
04/13/2022 |
04/20/2022 |
T+7 |
04/14/2022 |
04/21/2022 |
T+7 |
Ukraine |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
03/02/2022 |
03/09/2022 |
T+7 |
03/03/2022 |
03/10/2022 |
T+7 |
03/04/2022 |
03/11/2022 |
T+7 |
06/22/2022 |
06/29/2022 |
T+7 |
06/23/2022 |
06/30/2022 |
T+7 |
06/24/2022 |
06/31/2022 |
T+7 |
United Arab Emirates |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
No settlement cycles (˃=): T+7 |
United Kingdom |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
No settlement cycles (˃=): T+7 |
United States |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
No settlement cycles (˃=): T+7 |
Uruguay |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
No settlement cycles (˃=): T+7 |
Vietnam |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
01/28/2022 |
02/07/2022 |
T+10 |
01/31/2022 |
02/09/2022 |
T+9 |
WAEMU |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
04/27/2022 |
05/04/2022 |
T+7 |
04/28/2022 |
05/05/2022 |
T+7 |
04/29/2022 |
05/06/2022 |
T+7 |
Zambia |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
04/12/2022 |
04/19/2022 |
T+7 |
04/13/2022 |
04/20/2022 |
T+7 |
04/14/2022 |
04/21/2022 |
T+7 |
06/29/2022 |
07/06/2022 |
T+7 |
06/30/2022 |
07/07/2022 |
T+7 |
07/01/2022 |
07/08/2022 |
T+7 |
Zimbabwe |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
04/12/2022 |
04/19/2022 |
T+7 |
04/13/2022 |
04/20/2022 |
T+7 |
04/14/2022 |
04/21/2022 |
T+7 |
08/03/2022 |
08/10/2022 |
T+7 |
08/04/2022 |
08/11/2022 |
T+7 |
08/05/2022 |
08/12/2022 |
T+7 |
Zimbabwe |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
12/20/2022 |
12/27/2022 |
T+7 |
12/21/2022 |
12/28/2022 |
T+7 |
(a) |
Articles of Incorporation, Amended and Restated Agreement and Declaration of Trust, filed with Post-Effective
Amendment No. 56, dated September 4, 2018, is hereby incorporated by reference. |
(b) |
By-Laws, Amended and Restated By-Laws, filed with Post-Effective Amendment No. 63, dated December 17,
2021, is hereby incorporated by reference. |
(c) |
Instruments Defining Rights of Security Holders, reference is made to Articles III and V of the Registrant’s
Amended and Restated Agreement and Declaration of Trust, refer to Exhibit (a) above. |
(d) |
Investment Advisory Contracts, for
Frontier Capital Management Co., LLC, (with respect to Vanguard Explorer Value
Fund), filed with Post-Effective Amendment No. 26 on August 18, 2010; and for
Cardinal Capital Management,
L.L.C., (with respect to Vanguard Explorer Value Fund), filed with Post-Effective Amendment No. 42 dated
December 22, 2015, are hereby incorporated by reference. For
Ariel Investments, LLC, (with respect to Vanguard
Explorer Value Fund), is filed herewith. The Vanguard Group, Inc., provides investment advisory services to the
Sector Bond Index Funds, the Russell Index Funds, Total Corporate Bond ETF and Total World Bond ETF pursuant to
the Fifth Amended and Restated Funds’ Service Agreement, refer to Exhibit (h) below. |
(e) |
Underwriting Contracts, not applicable. |
(f) |
Bonus or Profit Sharing Contracts, reference is made to the section entitled “Management of the Funds” in Part B
of this Registration Statement. |
(g) |
Custodian Agreements, for
The Bank of New York Mellon,
JPMorgan Chase and
State Street Bank and Trust
Company, are filed herewith. |
(h) |
Other Material Contracts,
Fifth Amended and Restated Funds’ Service Agreement, filed with Post-Effective
Amendment No. 62 on December 22, 2020, is hereby incorporated by reference.
Form of Authorized Participant
Agreement, filed with Post-Effective Amendment No. 26 on August 18, 2010, is hereby incorporated by reference.
Form of Fund of Funds Investment Agreement, is filed herewith. |
(i) |
Legal Opinion, not applicable. |
(j) |
|
(k) |
Omitted Financial Statements, not applicable. |
(l) |
Initial Capital Agreements, not applicable. |
(m) |
Rule 12b-1 Plan, not applicable. |
(n) |
Rule 18f-3 Plan, is filed herewith. |
(o) |
Reserved. |
(p) |
Codes of Ethics, for
Cardinal Capital Management, L.L.C., filed with Post-Effective Amendment No. 62 on
December 22, 2020, is hereby incorporated by reference. For
Ariel Investments, LLC,
Frontier Capital Management
|
(a) |
Vanguard Marketing Corporation, a wholly owned subsidiary of The Vanguard Group, Inc., is the principal underwriter
of each fund within the Vanguard group of investment companies, a family of over 200 funds. |
(b) |
The principal business address of each named director and officer of Vanguard Marketing Corporation is 100
Vanguard Boulevard, Malvern, PA 19355. |
Name |
Positions and Office with Underwriter |
Positions and Office with Funds |
Matthew J. Benchener |
Vice President and Chief Executive Officer
Designee |
None |
Karin A. Risi |
Vice President |
None |
Thomas M. Rampulla |
Vice President |
None |
Michael Rollings |
Vice President |
Finance Director |
John Bisordi |
General Counsel and Vice President |
Assistant Secretary |
Tara Buckley |
Vice President and Assistant Secretary |
None |
Matthew C. Brancato |
Vice President |
None |
Mortimer J. Buckley |
President |
Chief Executive Officer and President |
Beth Morales Singh |
Secretary |
None |
Erica Green |
Chief Compliance Officer |
None |
Sarah Green |
Anti-Money Laundering Officer |
None |
Name |
Positions and Office with Underwriter |
Positions and Office with Funds |
Nitin Tandon |
Chief Information Officer |
None |
Manish Nagar |
Chief Information Security Officer |
None |
Salvatore L. Pantalone |
Principal Financial Officer and Treasurer |
None |
Matthew Tretter |
Financial Operations Officer |
None |
Danielle Corey |
Annuity and Insurance Officer |
None |
Jeff Seglem |
Annuity and Insurance Officer |
None |
Barbara Bock |
Controller |
None |
Jason Botzler |
Vice President |
None |
Jon Cleborne |
Vice President |
None |
Kaitlyn Holmes |
Vice President |
None |
Andrew Kadjeski |
Vice President |
None |
Amy M. Laursen |
Vice President |
None |
Paul M. Jakubowski |
Vice President |
None |
John James |
Vice President |
None |
James D. Martielli |
Vice President |
None |
Armond E. Mosley |
Vice President |
None |
David Petty |
Vice President |
None |
David MacBride |
Vice President |
None |
Massy Williams |
Vice President |
None |
(c) |
Not applicable. |
Signature |
Title |
Date |
/s/ Mortimer J. Buckley*
Mortimer J. Buckley |
Chairman and Chief Executive Officer |
December 20, 2022 |
/s/ Tara Bunch*
Tara Bunch |
Trustee |
December 20, 2022 |
/s/ Emerson U. Fullwood*
Emerson U. Fullwood |
Trustee |
December 20, 2022 |
/s/ F. Joseph Loughrey*
F. Joseph Loughrey |
Trustee |
December 20, 2022 |
/s/ Mark Loughridge*
Mark Loughridge |
Trustee |
December 20, 2022 |
/s/ Scott C. Malpass*
Scott C. Malpass |
Trustee |
December 20, 2022 |
/s/ Deanna Mulligan*
Deanna Mulligan |
Trustee |
December 20, 2022 |
/s/ André F. Perold*
André F. Perold |
Trustee |
December 20, 2022 |
/s/ Sarah Bloom Raskin*
Sarah Bloom Raskin |
Trustee |
December 20, 2022 |
/s/ David Thomas*
David Thomas |
Trustee |
December 20, 2022 |
/s/ Peter F. Volanakis*
Peter F. Volanakis |
Trustee |
December 20, 2022 |
/s/ Christine Buchanan*
Christine Buchanan |
Chief Financial Officer |
December 20, 2022 |