0000932471-17-005393.txt : 20170926 0000932471-17-005393.hdr.sgml : 20170926 20170926161644 ACCESSION NUMBER: 0000932471-17-005393 CONFORMED SUBMISSION TYPE: DEFA14A PUBLIC DOCUMENT COUNT: 6 FILED AS OF DATE: 20170926 DATE AS OF CHANGE: 20170926 EFFECTIVENESS DATE: 20170926 FILER: COMPANY DATA: COMPANY CONFORMED NAME: VANGUARD ADMIRAL FUNDS CENTRAL INDEX KEY: 0000891190 IRS NUMBER: 232696041 STATE OF INCORPORATION: DE FISCAL YEAR END: 0831 FILING VALUES: FORM TYPE: DEFA14A SEC ACT: 1934 Act SEC FILE NUMBER: 811-07043 FILM NUMBER: 171102283 BUSINESS ADDRESS: STREET 1: P.O. BOX 2600, V26 CITY: VALLEY FORGE STATE: PA ZIP: 19482 BUSINESS PHONE: 6106691000 MAIL ADDRESS: STREET 1: P.O. BOX 2600 V26 CITY: VALLEY FORGE STATE: PA ZIP: 19482 FORMER COMPANY: FORMER CONFORMED NAME: VANGUARD ADMIRAL FUNDS INC DATE OF NAME CHANGE: 19920908 FILER: COMPANY DATA: COMPANY CONFORMED NAME: VANGUARD CMT FUNDS CENTRAL INDEX KEY: 0001273878 IRS NUMBER: 200961006 FILING VALUES: FORM TYPE: DEFA14A SEC ACT: 1934 Act SEC FILE NUMBER: 811-21478 FILM NUMBER: 171102314 BUSINESS ADDRESS: STREET 1: PO BOX 2600 STREET 2: V26 CITY: MALVERN STATE: PA ZIP: 19355 BUSINESS PHONE: 610-669-1000 MAIL ADDRESS: STREET 1: PO BOX 2600 STREET 2: V26 CITY: MALVERN STATE: PA ZIP: 19355 FORMER COMPANY: FORMER CONFORMED NAME: VANGUARD CASH MANAGEMENT TRUST DATE OF NAME CHANGE: 20031218 FILER: COMPANY DATA: COMPANY CONFORMED NAME: VANGUARD SPECIALIZED FUNDS CENTRAL INDEX KEY: 0000734383 IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 0131 FILING VALUES: FORM TYPE: DEFA14A SEC ACT: 1934 Act SEC FILE NUMBER: 811-03916 FILM NUMBER: 171102294 BUSINESS ADDRESS: STREET 1: PO BOX 2600 STREET 2: V26 CITY: VALLEY FORGE STATE: PA ZIP: 19482 BUSINESS PHONE: 6106691000 MAIL ADDRESS: STREET 1: PO BOX 2600 STREET 2: V26 CITY: VALLEY FORGE STATE: PA ZIP: 19482 FORMER COMPANY: FORMER CONFORMED NAME: VANGUARD SPECIALIZED FUNDS/ DATE OF NAME CHANGE: 20011121 FORMER COMPANY: FORMER CONFORMED NAME: VANGUARD SPECIALIZED PORTFOLIOS INC DATE OF NAME CHANGE: 19920703 FILER: COMPANY DATA: COMPANY CONFORMED NAME: VANGUARD FIXED INCOME SECURITIES FUNDS CENTRAL INDEX KEY: 0000106444 IRS NUMBER: 231899003 STATE OF INCORPORATION: DE FISCAL YEAR END: 0131 FILING VALUES: FORM TYPE: DEFA14A SEC ACT: 1934 Act SEC FILE NUMBER: 811-02368 FILM NUMBER: 171102309 BUSINESS ADDRESS: STREET 1: PO BOX 2600 STREET 2: V26 CITY: VALLEY FORGE STATE: PA ZIP: 19482 BUSINESS PHONE: 6106691000 MAIL ADDRESS: STREET 1: PO BOX 2600 STREET 2: V26 CITY: VALLEY FORGE STATE: PA ZIP: 19482 FORMER COMPANY: FORMER CONFORMED NAME: VANGUARD FIXED INCOME SECURITIES FUND INC DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: WESTMINSTER BOND FUND INC DATE OF NAME CHANGE: 19800619 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Vanguard Montgomery Funds CENTRAL INDEX KEY: 0001409957 IRS NUMBER: 261082315 FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: DEFA14A SEC ACT: 1934 Act SEC FILE NUMBER: 811-22114 FILM NUMBER: 171102301 BUSINESS ADDRESS: STREET 1: P.O. BOX 2600 CITY: VALLEY FORGE STATE: PA ZIP: 19482 BUSINESS PHONE: 610-669-1000 MAIL ADDRESS: STREET 1: P.O. BOX 2600 CITY: VALLEY FORGE STATE: PA ZIP: 19482 FILER: COMPANY DATA: COMPANY CONFORMED NAME: VANGUARD WORLD FUND CENTRAL INDEX KEY: 0000052848 IRS NUMBER: 046035483 STATE OF INCORPORATION: DE FISCAL YEAR END: 0831 FILING VALUES: FORM TYPE: DEFA14A SEC ACT: 1934 Act SEC FILE NUMBER: 811-01027 FILM NUMBER: 171102285 BUSINESS ADDRESS: STREET 1: PO BOX 2600 STREET 2: V26 CITY: VALLEY FORGE STATE: PA ZIP: 19482 BUSINESS PHONE: 6106691000 MAIL ADDRESS: STREET 1: PO BOX 2600 STREET 2: V26 CITY: VALLEY FORGE STATE: PA ZIP: 19482 FORMER COMPANY: FORMER CONFORMED NAME: VANGUARD WORLD FUNDS DATE OF NAME CHANGE: 20020402 FORMER COMPANY: FORMER CONFORMED NAME: VANGUARD WORLD FUND INC DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: IVEST FUND INC DATE OF NAME CHANGE: 19850923 FILER: COMPANY DATA: COMPANY CONFORMED NAME: VANGUARD SCOTTSDALE FUNDS CENTRAL INDEX KEY: 0001021882 IRS NUMBER: 232439140 STATE OF INCORPORATION: DE FISCAL YEAR END: 0831 FILING VALUES: FORM TYPE: DEFA14A SEC ACT: 1934 Act SEC FILE NUMBER: 811-07803 FILM NUMBER: 171102295 BUSINESS ADDRESS: STREET 1: PO BOX 2600 STREET 2: V26 CITY: VALLEY FORGE STATE: PA ZIP: 19482 BUSINESS PHONE: 6106691000 MAIL ADDRESS: STREET 1: PO BOX 2600 STREET 2: V26 CITY: VALLEY FORGE STATE: PA ZIP: 19482 FORMER COMPANY: FORMER CONFORMED NAME: VANGUARD TREASURY FUND DATE OF NAME CHANGE: 19960829 FILER: COMPANY DATA: COMPANY CONFORMED NAME: VANGUARD MONEY MARKET RESERVES CENTRAL INDEX KEY: 0000106830 IRS NUMBER: 236607979 STATE OF INCORPORATION: DE FISCAL YEAR END: 0831 FILING VALUES: FORM TYPE: DEFA14A SEC ACT: 1934 Act SEC FILE NUMBER: 811-02554 FILM NUMBER: 171102302 BUSINESS ADDRESS: STREET 1: PO BOX 2600 STREET 2: V26 CITY: VALLEY FORGE STATE: PA ZIP: 19482 BUSINESS PHONE: 6106691000 MAIL ADDRESS: STREET 1: PO BOX 2600 STREET 2: V26 CITY: VALLEY FORGE STATE: PA ZIP: 19482 FORMER COMPANY: FORMER CONFORMED NAME: VANGUARD MONEY MARKET FUNDS DATE OF NAME CHANGE: 20011121 FORMER COMPANY: FORMER CONFORMED NAME: VANGUARD MONEY MARKET RESERVES INC DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: VANGUARD MONEY MARKET TRUST DATE OF NAME CHANGE: 19851103 FILER: COMPANY DATA: COMPANY CONFORMED NAME: VANGUARD CHESTER FUNDS CENTRAL INDEX KEY: 0000752177 IRS NUMBER: 232311358 FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: DEFA14A SEC ACT: 1934 Act SEC FILE NUMBER: 811-04098 FILM NUMBER: 171102313 BUSINESS ADDRESS: STREET 1: PO BOX 2600 STREET 2: V26 CITY: VALLEY FORGE STATE: PA ZIP: 19482 BUSINESS PHONE: 6106691000 MAIL ADDRESS: STREET 1: P.O. BOX 2600 STREET 2: V26 CITY: VALLEY FORGE STATE: PA ZIP: 19482 FORMER COMPANY: FORMER CONFORMED NAME: VANGUARD PRIMECAP FUND/ DATE OF NAME CHANGE: 20011121 FORMER COMPANY: FORMER CONFORMED NAME: VANGUARD/PRIMECAP FUND INC DATE OF NAME CHANGE: 19940608 FORMER COMPANY: FORMER CONFORMED NAME: PRIMECAP FUND INC DATE OF NAME CHANGE: 19920703 FILER: COMPANY DATA: COMPANY CONFORMED NAME: VANGUARD FENWAY FUNDS CENTRAL INDEX KEY: 0000826473 IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: DEFA14A SEC ACT: 1934 Act SEC FILE NUMBER: 811-05445 FILM NUMBER: 171102310 BUSINESS ADDRESS: STREET 1: P.O. BOX 2600 STREET 2: V26 CITY: VALLEY FORGE STATE: PA ZIP: 19482 BUSINESS PHONE: 6106691000 MAIL ADDRESS: STREET 1: P.O. BOX 2600 STREET 2: V26 CITY: VALLEY FORGE STATE: PA ZIP: 19482 FORMER COMPANY: FORMER CONFORMED NAME: VANGUARD EQUITY INCOME FUND INC DATE OF NAME CHANGE: 19920703 FILER: COMPANY DATA: COMPANY CONFORMED NAME: VANGUARD MALVERN FUNDS CENTRAL INDEX KEY: 0000836906 IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: DEFA14A SEC ACT: 1934 Act SEC FILE NUMBER: 811-05628 FILM NUMBER: 171102304 BUSINESS ADDRESS: STREET 1: P.O. BOX 2600 STREET 2: V26 CITY: VALLEY FORGE STATE: PA ZIP: 19482 BUSINESS PHONE: 6106691000 MAIL ADDRESS: STREET 1: P.O. BOX 2600 STREET 2: V26 CITY: VALLEY FORGE STATE: PA ZIP: 19482 FORMER COMPANY: FORMER CONFORMED NAME: VANGUARD ASSET ALLOCATION FUND INC DATE OF NAME CHANGE: 19920703 FILER: COMPANY DATA: COMPANY CONFORMED NAME: VANGUARD WELLESLEY INCOME FUND CENTRAL INDEX KEY: 0000105544 IRS NUMBER: 231711688 STATE OF INCORPORATION: DE FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: DEFA14A SEC ACT: 1934 Act SEC FILE NUMBER: 811-01766 FILM NUMBER: 171102288 BUSINESS ADDRESS: STREET 1: PO BOX 2600 STREET 2: V26 CITY: VALLEY FORGE STATE: PA ZIP: 19482 BUSINESS PHONE: 6106691000 MAIL ADDRESS: STREET 1: PO BOX 2600 STREET 2: V26 CITY: VALLEY FORGE STATE: PA ZIP: 19482 FORMER COMPANY: FORMER CONFORMED NAME: VANGUARD WELLESLEY INCOME FUND/ DATE OF NAME CHANGE: 20011121 FORMER COMPANY: FORMER CONFORMED NAME: VANGUARD/WELLESLEY INCOME FUND INC DATE OF NAME CHANGE: 19940608 FORMER COMPANY: FORMER CONFORMED NAME: WELLESLEY INCOME FUND INC DATE OF NAME CHANGE: 19920703 FILER: COMPANY DATA: COMPANY CONFORMED NAME: VANGUARD MORGAN GROWTH FUND CENTRAL INDEX KEY: 0000068138 IRS NUMBER: 510108190 STATE OF INCORPORATION: DE FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: DEFA14A SEC ACT: 1934 Act SEC FILE NUMBER: 811-01685 FILM NUMBER: 171102300 BUSINESS ADDRESS: STREET 1: PO BOX 2600 STREET 2: V26 CITY: VALLEY FORGE STATE: PA ZIP: 19482 BUSINESS PHONE: 6106691000 MAIL ADDRESS: STREET 1: PO BOX 2600 STREET 2: V26 CITY: VALLEY FORGE STATE: PA ZIP: 19482 FORMER COMPANY: FORMER CONFORMED NAME: VANGUARD MORGAN GROWTH FUND INC DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: MORGAN W L GROWTH FUND INC DATE OF NAME CHANGE: 19900507 FORMER COMPANY: FORMER CONFORMED NAME: MORGAN GROWTH FUND DATE OF NAME CHANGE: 19681203 FILER: COMPANY DATA: COMPANY CONFORMED NAME: VANGUARD INTERNATIONAL EQUITY INDEX FUNDS CENTRAL INDEX KEY: 0000857489 IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 1031 FILING VALUES: FORM TYPE: DEFA14A SEC ACT: 1934 Act SEC FILE NUMBER: 811-05972 FILM NUMBER: 171102305 BUSINESS ADDRESS: STREET 1: PO BOX 2600 STREET 2: V26 CITY: VALLEY FORGE STATE: PA ZIP: 19482 BUSINESS PHONE: 6106691000 MAIL ADDRESS: STREET 1: PO BOX 2600 STREET 2: V26 CITY: VALLEY FORGE STATE: PA ZIP: 19482 FORMER COMPANY: FORMER CONFORMED NAME: VANGUARD INTERNATIONAL EQUITY INDEX FUND INC DATE OF NAME CHANGE: 19920703 FILER: COMPANY DATA: COMPANY CONFORMED NAME: VANGUARD STAR FUNDS CENTRAL INDEX KEY: 0000736054 IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 1031 FILING VALUES: FORM TYPE: DEFA14A SEC ACT: 1934 Act SEC FILE NUMBER: 811-03919 FILM NUMBER: 171102293 BUSINESS ADDRESS: STREET 1: PO BOX 2600 STREET 2: V26 CITY: VALLEY FORGE STATE: PA ZIP: 19482 BUSINESS PHONE: 6106691000 MAIL ADDRESS: STREET 1: PO BOX 2600 STREET 2: V26 CITY: VALLEY FORGE STATE: PA ZIP: 19482 FORMER COMPANY: FORMER CONFORMED NAME: VANGUARD STAR FUND DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: VANGUARD SPECIAL TAX ADVANTAGED RETIREMENT FUND DATE OF NAME CHANGE: 19850318 FILER: COMPANY DATA: COMPANY CONFORMED NAME: VANGUARD WHITEHALL FUNDS CENTRAL INDEX KEY: 0001004655 IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 1031 FILING VALUES: FORM TYPE: DEFA14A SEC ACT: 1934 Act SEC FILE NUMBER: 811-07443 FILM NUMBER: 171102284 BUSINESS ADDRESS: STREET 1: PO BOX 2600 STREET 2: V26 CITY: VALLEY FORGE STATE: PA ZIP: 19482 BUSINESS PHONE: 6106691000 MAIL ADDRESS: STREET 1: PO BOX 2600 STREET 2: V26 CITY: VALLEY FORGE STATE: PA ZIP: 19482 FORMER COMPANY: FORMER CONFORMED NAME: VANGUARD WHITEHALL FUNDS INC DATE OF NAME CHANGE: 19951207 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Vanguard Charlotte Funds CENTRAL INDEX KEY: 0001532203 IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 1031 FILING VALUES: FORM TYPE: DEFA14A SEC ACT: 1934 Act SEC FILE NUMBER: 811-22619 FILM NUMBER: 171102315 BUSINESS ADDRESS: STREET 1: P.O. BOX 2600 STREET 2: V26 CITY: VALLEY FORGE STATE: PA ZIP: 19482 BUSINESS PHONE: 6106695410 MAIL ADDRESS: STREET 1: P.O. BOX 2600 STREET 2: V26 CITY: VALLEY FORGE STATE: PA ZIP: 19482 FILER: COMPANY DATA: COMPANY CONFORMED NAME: VANGUARD MUNICIPAL BOND FUNDS CENTRAL INDEX KEY: 0000225997 IRS NUMBER: 232022170 STATE OF INCORPORATION: DE FISCAL YEAR END: 1031 FILING VALUES: FORM TYPE: DEFA14A SEC ACT: 1934 Act SEC FILE NUMBER: 811-02687 FILM NUMBER: 171102299 BUSINESS ADDRESS: STREET 1: PO BOX 2600 STREET 2: V26 CITY: VALLEY FORGE STATE: PA ZIP: 19482 BUSINESS PHONE: 6106691000 MAIL ADDRESS: STREET 1: PO BOX 2600 STREET 2: V26 CITY: VALLEY FORGE STATE: PA ZIP: 19482 FORMER COMPANY: FORMER CONFORMED NAME: VANGUARD MUNICIPAL BOND FUND INC DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: VANGUARD MUNICIPAL BOND FUND DATE OF NAME CHANGE: 19851103 FORMER COMPANY: FORMER CONFORMED NAME: WARWICK MUNICIPAL BOND FUND INC DATE OF NAME CHANGE: 19800619 FILER: COMPANY DATA: COMPANY CONFORMED NAME: VANGUARD TRUSTEES' EQUITY FUND CENTRAL INDEX KEY: 0000313850 IRS NUMBER: 232120820 STATE OF INCORPORATION: DE FISCAL YEAR END: 1031 FILING VALUES: FORM TYPE: DEFA14A SEC ACT: 1934 Act SEC FILE NUMBER: 811-02968-99 FILM NUMBER: 171102291 BUSINESS ADDRESS: STREET 1: PO BOX 2600 STREET 2: V26 CITY: VALLEY FORGE STATE: PA ZIP: 19482 BUSINESS PHONE: 6106691000 MAIL ADDRESS: STREET 1: PO BOX 2600 STREET 2: V26 CITY: VALLEY FORGE STATE: PA ZIP: 19482 FORMER COMPANY: FORMER CONFORMED NAME: VANGUARD TRUSTEES EQUITY FUNDS DATE OF NAME CHANGE: 20011121 FORMER COMPANY: FORMER CONFORMED NAME: VANGUARD TRUSTEES EQUITY FUND DATE OF NAME CHANGE: 19930303 FORMER COMPANY: FORMER CONFORMED NAME: TRUSTEES COMINGLED FUND DATE OF NAME CHANGE: 19930302 FILER: COMPANY DATA: COMPANY CONFORMED NAME: VANGUARD HORIZON FUNDS CENTRAL INDEX KEY: 0000932471 IRS NUMBER: 232787277 STATE OF INCORPORATION: DE FISCAL YEAR END: 1031 FILING VALUES: FORM TYPE: DEFA14A SEC ACT: 1934 Act SEC FILE NUMBER: 811-07239 FILM NUMBER: 171102308 BUSINESS ADDRESS: STREET 1: P O BOX 2600 STREET 2: V26 CITY: VALLEY FORGE STATE: PA ZIP: 19482 BUSINESS PHONE: 6106691000 MAIL ADDRESS: STREET 1: P.O. BOX 2600 STREET 2: V26 CITY: VALLEY FORGE STATE: PA ZIP: 19482 FORMER COMPANY: FORMER CONFORMED NAME: VANGUARD HORIZON FUND INC DATE OF NAME CHANGE: 19941107 FILER: COMPANY DATA: COMPANY CONFORMED NAME: VANGUARD WINDSOR FUNDS CENTRAL INDEX KEY: 0000107606 IRS NUMBER: 510082711 STATE OF INCORPORATION: DE FISCAL YEAR END: 1031 FILING VALUES: FORM TYPE: DEFA14A SEC ACT: 1934 Act SEC FILE NUMBER: 811-00834 FILM NUMBER: 171102286 BUSINESS ADDRESS: STREET 1: PO BOX 2600 STREET 2: V26 CITY: VALLEY FORGE STATE: PA ZIP: 19482 BUSINESS PHONE: 6106691000 MAIL ADDRESS: STREET 1: PO BOX 2600 STREET 2: V26 CITY: VALLEY FORGE STATE: PA ZIP: 19482 FORMER COMPANY: FORMER CONFORMED NAME: VANGUARD WINDSOR FUNDS/ DATE OF NAME CHANGE: 20011121 FORMER COMPANY: FORMER CONFORMED NAME: VANGUARD/WINDSOR FUNDS INC DATE OF NAME CHANGE: 19931203 FORMER COMPANY: FORMER CONFORMED NAME: WINDSOR FUNDS INC DATE OF NAME CHANGE: 19920703 FILER: COMPANY DATA: COMPANY CONFORMED NAME: VANGUARD EXPLORER FUND CENTRAL INDEX KEY: 0000034066 IRS NUMBER: 510106626 STATE OF INCORPORATION: DE FISCAL YEAR END: 1031 FILING VALUES: FORM TYPE: DEFA14A SEC ACT: 1934 Act SEC FILE NUMBER: 811-01530 FILM NUMBER: 171102311 BUSINESS ADDRESS: STREET 1: PO BOX 2600 STREET 2: V26 CITY: VALLEY FORGE STATE: PA ZIP: 19482 BUSINESS PHONE: 6106691000 MAIL ADDRESS: STREET 1: P.O. BOX 2600 STREET 2: V26 CITY: VALLEY FORGE STATE: PA ZIP: 19482 FORMER COMPANY: FORMER CONFORMED NAME: VANGUARD EXPLORER FUND INC DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: EXPLORER FUND INC DATE OF NAME CHANGE: 19900305 FILER: COMPANY DATA: COMPANY CONFORMED NAME: VANGUARD CALIFORNIA TAX-FREE FUNDS CENTRAL INDEX KEY: 0000783401 IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 1130 FILING VALUES: FORM TYPE: DEFA14A SEC ACT: 1934 Act SEC FILE NUMBER: 811-04474 FILM NUMBER: 171102316 BUSINESS ADDRESS: STREET 1: PO BOX 2600 STREET 2: V26 CITY: VALLEY FORGE STATE: PA ZIP: 19482 BUSINESS PHONE: 6106691000 MAIL ADDRESS: STREET 1: PO BOX 2600 STREET 2: V26 CITY: VALLEY FORGE STATE: PA ZIP: 19482 FORMER COMPANY: FORMER CONFORMED NAME: VANGUARD CALIFORNIA TAX FREE FUNDS DATE OF NAME CHANGE: 20011121 FORMER COMPANY: FORMER CONFORMED NAME: VANGUARD CALIFORNIA TAX FREE FUND DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: VANGUARD CALIFORNIA INSURED TAX FREE FUND DATE OF NAME CHANGE: 19870514 FILER: COMPANY DATA: COMPANY CONFORMED NAME: VANGUARD CONVERTIBLE SECURITIES FUND CENTRAL INDEX KEY: 0000791107 IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 1130 FILING VALUES: FORM TYPE: DEFA14A SEC ACT: 1934 Act SEC FILE NUMBER: 811-04627 FILM NUMBER: 171102312 BUSINESS ADDRESS: STREET 1: PO BOX 2600 STREET 2: V26 CITY: VALLEY FORGE STATE: PA ZIP: 19482 BUSINESS PHONE: 6106691000 MAIL ADDRESS: STREET 1: P.O. BOX 2600 STREET 2: V26 CITY: VALLEY FORGE STATE: PA ZIP: 19482 FORMER COMPANY: FORMER CONFORMED NAME: VANGUARD CONVERTIBLE SECURITIES FUND INC DATE OF NAME CHANGE: 19920703 FILER: COMPANY DATA: COMPANY CONFORMED NAME: VANGUARD NEW JERSEY TAX-FREE FUNDS CENTRAL INDEX KEY: 0000821404 IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 1130 FILING VALUES: FORM TYPE: DEFA14A SEC ACT: 1934 Act SEC FILE NUMBER: 811-05340 FILM NUMBER: 171102298 BUSINESS ADDRESS: STREET 1: PO BOX 2600 STREET 2: V26 CITY: VALLEY FORGE STATE: PA ZIP: 19482 BUSINESS PHONE: 6106691000 MAIL ADDRESS: STREET 1: PO BOX 2600 STREET 2: V26 CITY: VALLEY FORGE STATE: PA ZIP: 19482 FORMER COMPANY: FORMER CONFORMED NAME: VANGUARD NEW JERSEY TAX FREE FUNDS DATE OF NAME CHANGE: 20011121 FORMER COMPANY: FORMER CONFORMED NAME: VANGUARD NEW JERSEY TAX FREE FUND DATE OF NAME CHANGE: 19920703 FILER: COMPANY DATA: COMPANY CONFORMED NAME: VANGUARD NEW YORK TAX-FREE FUNDS CENTRAL INDEX KEY: 0000788599 IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 1130 FILING VALUES: FORM TYPE: DEFA14A SEC ACT: 1934 Act SEC FILE NUMBER: 811-04570 FILM NUMBER: 171102297 BUSINESS ADDRESS: STREET 1: PO BOX 2600 STREET 2: V26 CITY: VALLEY FORGE STATE: PA ZIP: 19482 BUSINESS PHONE: 6106691000 MAIL ADDRESS: STREET 1: PO BOX 2600 STREET 2: V26 CITY: VALLEY FORGE STATE: PA ZIP: 19482 FORMER COMPANY: FORMER CONFORMED NAME: VANGUARD NEW YORK INSURED TAX FREE FUND DATE OF NAME CHANGE: 19920703 FILER: COMPANY DATA: COMPANY CONFORMED NAME: VANGUARD OHIO TAX-FREE FUNDS CENTRAL INDEX KEY: 0000862341 IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 1130 FILING VALUES: FORM TYPE: DEFA14A SEC ACT: 1934 Act SEC FILE NUMBER: 811-06083 FILM NUMBER: 171102296 BUSINESS ADDRESS: STREET 1: PO BOX 2600 STREET 2: V26 CITY: VALLEY FORGE STATE: PA ZIP: 19482 BUSINESS PHONE: 6106691000 MAIL ADDRESS: STREET 1: PO BOX 2600 STREET 2: V26 CITY: VALLEY FORGE STATE: PA ZIP: 19482 FORMER COMPANY: FORMER CONFORMED NAME: VANGUARD OHIO TAX FREE FUND DATE OF NAME CHANGE: 19920703 FILER: COMPANY DATA: COMPANY CONFORMED NAME: VANGUARD PENNSYLVANIA TAX-FREE FUNDS CENTRAL INDEX KEY: 0000788606 IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 1130 FILING VALUES: FORM TYPE: DEFA14A SEC ACT: 1934 Act SEC FILE NUMBER: 811-04571 FILM NUMBER: 171102282 BUSINESS ADDRESS: STREET 1: PO BOX 2600 STREET 2: V26 CITY: VALLEY FORGE STATE: PA ZIP: 19482 BUSINESS PHONE: 6106691000 MAIL ADDRESS: STREET 1: PO BOX 2600 STREET 2: V26 CITY: VALLEY FORGE STATE: PA ZIP: 19482 FORMER COMPANY: FORMER CONFORMED NAME: VANGUARD PENNSYLVANIA TAX FREE FUND DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: VANGUARD PENNSYLVANIA INSURED TAX FREE FUND DATE OF NAME CHANGE: 19880407 FILER: COMPANY DATA: COMPANY CONFORMED NAME: VANGUARD MASSACHUSETTS TAX-EXEMPT FUNDS CENTRAL INDEX KEY: 0001070414 IRS NUMBER: 232975858 STATE OF INCORPORATION: DE FISCAL YEAR END: 1130 FILING VALUES: FORM TYPE: DEFA14A SEC ACT: 1934 Act SEC FILE NUMBER: 811-09005 FILM NUMBER: 171102303 BUSINESS ADDRESS: STREET 1: PO BOX 2600 STREET 2: V26 CITY: VALLEY FORGE STATE: PA ZIP: 19482 BUSINESS PHONE: 6106691000 MAIL ADDRESS: STREET 1: PO BOX 2600 STREET 2: V26 CITY: VALLEY FORGE STATE: PA ZIP: 19482 FORMER COMPANY: FORMER CONFORMED NAME: VANGUARD MASSACHUSETTS TAX EXEMPT FUNDS DATE OF NAME CHANGE: 19980915 FILER: COMPANY DATA: COMPANY CONFORMED NAME: VANGUARD WELLINGTON FUND CENTRAL INDEX KEY: 0000105563 IRS NUMBER: 510071687 STATE OF INCORPORATION: DE FISCAL YEAR END: 1130 FILING VALUES: FORM TYPE: DEFA14A SEC ACT: 1934 Act SEC FILE NUMBER: 811-00121 FILM NUMBER: 171102287 BUSINESS ADDRESS: STREET 1: PO BOX 2600 STREET 2: V26 CITY: VALLEY FORGE STATE: PA ZIP: 19482 BUSINESS PHONE: 6106691000 MAIL ADDRESS: STREET 1: PO BOX 2600 STREET 2: V26 CITY: VALLEY FORGE STATE: PA ZIP: 19482 FORMER COMPANY: FORMER CONFORMED NAME: VANGUARD/WELLINGTON FUND INC DATE OF NAME CHANGE: 19940608 FORMER COMPANY: FORMER CONFORMED NAME: WELLINGTON FUND INC DATE OF NAME CHANGE: 19920703 FILER: COMPANY DATA: COMPANY CONFORMED NAME: VANGUARD QUANTITATIVE FUNDS / CENTRAL INDEX KEY: 0000799127 IRS NUMBER: 000000000 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: DEFA14A SEC ACT: 1934 Act SEC FILE NUMBER: 811-04526 FILM NUMBER: 171102281 BUSINESS ADDRESS: STREET 1: 100 VANGUARD BLVD STREET 2: P O BOX 2600 CITY: MALVERN STATE: PA ZIP: 19355 BUSINESS PHONE: 6106691000 MAIL ADDRESS: STREET 1: 100 VANGUARD BLVD STREET 2: PO BOX 2600 CITY: VALLEY FORGE STATE: PA ZIP: 19482 FILER: COMPANY DATA: COMPANY CONFORMED NAME: VANGUARD BOND INDEX FUNDS CENTRAL INDEX KEY: 0000794105 IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: DEFA14A SEC ACT: 1934 Act SEC FILE NUMBER: 811-04681 FILM NUMBER: 171102317 BUSINESS ADDRESS: STREET 1: PO BOX 2600 STREET 2: V26 CITY: VALLEY FORGE STATE: PA ZIP: 19482 BUSINESS PHONE: 6106691000 MAIL ADDRESS: STREET 1: P.O. BOX 2600 V26 CITY: VALLEY FORGE STATE: PA ZIP: 19482 FORMER COMPANY: FORMER CONFORMED NAME: VANGUARD BOND INDEX FUND INC DATE OF NAME CHANGE: 19940111 FORMER COMPANY: FORMER CONFORMED NAME: VANGUARD BOND MARKET FUND INC DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: VANGUARD INDEX BOND FUND DATE OF NAME CHANGE: 19870105 FILER: COMPANY DATA: COMPANY CONFORMED NAME: VANGUARD INSTITUTIONAL INDEX FUNDS CENTRAL INDEX KEY: 0000862084 IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: DEFA14A SEC ACT: 1934 Act SEC FILE NUMBER: 811-06093 FILM NUMBER: 171102306 BUSINESS ADDRESS: STREET 1: PO BOX 2600 STREET 2: V26 CITY: VALLEY FORGE STATE: PA ZIP: 19482 BUSINESS PHONE: 6106691000 MAIL ADDRESS: STREET 1: PO BOX 2600 STREET 2: V26 CITY: VALLEY FORGE STATE: PA ZIP: 19482 FORMER COMPANY: FORMER CONFORMED NAME: VANGUARD INSTITUTIONAL INDEX FUND DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: VANGUARD INSTITUTIONAL EQUITY INDEX FUND INC DATE OF NAME CHANGE: 19900701 FILER: COMPANY DATA: COMPANY CONFORMED NAME: VANGUARD VALLEY FORGE FUNDS CENTRAL INDEX KEY: 0000889519 IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: DEFA14A SEC ACT: 1934 Act SEC FILE NUMBER: 811-58431 FILM NUMBER: 171102290 BUSINESS ADDRESS: STREET 1: P O BOX 2600 STREET 2: V26 CITY: VALLEY FORGE STATE: PA ZIP: 19482 BUSINESS PHONE: 6106691000 MAIL ADDRESS: STREET 1: P.O. BOX 2600 STREET 2: V26 CITY: VALLEY FORGE STATE: PA ZIP: 19482 FORMER COMPANY: FORMER CONFORMED NAME: VANGUARD BALANCED INDEX FUNDS DATE OF NAME CHANGE: 20070223 FORMER COMPANY: FORMER CONFORMED NAME: VANGUARD BALANCED INDEX FUND DATE OF NAME CHANGE: 20011121 FORMER COMPANY: FORMER CONFORMED NAME: VANGUARD BALANCED INDEX FUND INC DATE OF NAME CHANGE: 19920715 FILER: COMPANY DATA: COMPANY CONFORMED NAME: VANGUARD VARIABLE INSURANCE FUNDS CENTRAL INDEX KEY: 0000857490 IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: DEFA14A SEC ACT: 1934 Act SEC FILE NUMBER: 811-05962 FILM NUMBER: 171102289 BUSINESS ADDRESS: STREET 1: PO BOX 2600 STREET 2: V26 CITY: VALLEY FORGE STATE: PA ZIP: 19482 BUSINESS PHONE: 6106691000 MAIL ADDRESS: STREET 1: PO BOX 2600 STREET 2: V26 CITY: VALLEY FORGE STATE: PA ZIP: 19482 FORMER COMPANY: FORMER CONFORMED NAME: VANGUARD VARIABLE INSURANCE FUND DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: VANGUARD VARIABLE INSURANCE FUND INC DATE OF NAME CHANGE: 19910505 FILER: COMPANY DATA: COMPANY CONFORMED NAME: VANGUARD INDEX FUNDS CENTRAL INDEX KEY: 0000036405 IRS NUMBER: 231999755 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: DEFA14A SEC ACT: 1934 Act SEC FILE NUMBER: 811-02652 FILM NUMBER: 171102307 BUSINESS ADDRESS: STREET 1: PO BOX 2600 STREET 2: V26 CITY: VALLEY FORGE STATE: PA ZIP: 19482 BUSINESS PHONE: 6106691000 MAIL ADDRESS: STREET 1: PO BOX 2600 STREET 2: V26 CITY: VALLEY FORGE STATE: PA ZIP: 19482 FORMER COMPANY: FORMER CONFORMED NAME: VANGUARD INDEX FUNDS/ DATE OF NAME CHANGE: 20011121 FORMER COMPANY: FORMER CONFORMED NAME: VANGUARD INDEX TRUST DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: FIRST INDEX INVESTMENT TRUST DATE OF NAME CHANGE: 19800904 FILER: COMPANY DATA: COMPANY CONFORMED NAME: VANGUARD TAX-MANAGED FUNDS CENTRAL INDEX KEY: 0000923202 IRS NUMBER: 000000000 STATE OF INCORPORATION: MD FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: DEFA14A SEC ACT: 1934 Act SEC FILE NUMBER: 811-07175 FILM NUMBER: 171102292 BUSINESS ADDRESS: STREET 1: PO BOX 2600 STREET 2: V26 CITY: VALLEY FORGE STATE: PA ZIP: 19482 BUSINESS PHONE: 6106691000 MAIL ADDRESS: STREET 1: PO BOX 2600 STREET 2: V26 CITY: VALLEY FORGE STATE: PA ZIP: 19482 FORMER COMPANY: FORMER CONFORMED NAME: VANGUARD TAX MANAGED FUNDS DATE OF NAME CHANGE: 20011121 FORMER COMPANY: FORMER CONFORMED NAME: VANGUARD TAX-MANAGED FUNDS DATE OF NAME CHANGE: 20011121 FORMER COMPANY: FORMER CONFORMED NAME: VANGUARD TAX MANAGED FUND INC DATE OF NAME CHANGE: 19940517 0000034066 S000002578 VANGUARD EXPLORER FUND C000007081 Investor Shares VEXPX C000007082 Admiral Shares VEXRX 0000036405 S000002839 Vanguard 500 Index Fund C000007773 Investor Shares VFINX C000007774 Admiral Shares VFIAX C000092055 ETF Shares VOO C000170274 Institutional Select Shares VFFSX 0000036405 S000002840 Vanguard Value Index Fund C000007775 Investor Shares VIVAX C000007776 Admiral Shares VVIAX C000007777 Institutional Shares VIVIX C000007778 ETF Shares VTV 0000036405 S000002841 Vanguard Extended Market Index Fund C000007779 Investor Shares VEXMX C000007780 Admiral Shares VEXAX C000007781 Institutional Shares VIEIX C000007782 ETF Shares VXF C000096110 Institutional Plus Shares VEMPX C000170275 Institutional Select Shares VSEMX 0000036405 S000002842 Vanguard Growth Index Fund C000007783 Investor Shares VIGRX C000007784 Admiral Shares VIGAX C000007785 Institutional Shares VIGIX C000007786 ETF Shares VUG 0000036405 S000002843 Vanguard Large-Cap Index Fund C000007787 Investor Shares VLACX C000007788 Admiral Shares VLCAX C000007789 Institutional Shares VLISX C000007790 ETF Shares VV 0000036405 S000002844 Vanguard Mid-Cap Index Fund C000007791 Investor Shares VIMSX C000007792 Admiral Shares VIMAX C000007793 Institutional Shares VMCIX C000007794 ETF Shares VO C000096111 Institutional Plus Shares VMCPX 0000036405 S000002845 Vanguard Small-Cap Index Fund C000007795 Investor Shares NAESX C000007796 Admiral Shares VSMAX C000007797 Institutional Shares VSCIX C000007798 ETF Shares VB C000096112 Institutional Plus Shares VSCPX 0000036405 S000002846 Vanguard Small-Cap Growth Index Fund C000007799 Investor Shares VISGX C000007800 Institutional Shares VSGIX C000007801 ETF Shares VBK C000105304 Admiral Shares VSGAX 0000036405 S000002847 Vanguard Small-Cap Value Index Fund C000007802 Investor Shares VISVX C000007803 Institutional Shares VSIIX C000007804 ETF Shares VBR C000105305 Admiral Shares VSIAX 0000036405 S000002848 Vanguard Total Stock Market Index Fund C000007805 Investor Shares VTSMX C000007806 Admiral Shares VTSAX C000007807 Institutional Shares VITSX C000007808 ETF Shares VTI C000155407 Institutional Plus Shares VSMPX C000170276 Institutional Select Shares VSTSX 0000036405 S000012756 Vanguard Mid-Cap Growth Index Fund C000034427 Investor Shares VMGIX C000034428 ETF Shares VOT C000105306 Admiral Shares VMGMX 0000036405 S000012757 Vanguard Mid-Cap Value Index Fund C000034429 Investor Shares VMVIX C000034430 ETF Shares VOE C000105307 Admiral Shares VMVAX 0000052848 S000004440 Vanguard FTSE Social Index Fund C000012203 Investor Shares VFTSX C000012204 Institutional Shares VFTNX 0000052848 S000004441 Vanguard Materials Index Fund C000012205 Admiral Shares VMIAX C000012206 ETF Shares VAW 0000052848 S000004443 Vanguard Telecommunication Services Index Fund C000012208 Admiral Shares VTCAX C000012209 ETF Shares VOX 0000052848 S000004444 Vanguard U.S. Growth Fund C000012210 Investor Shares VWUSX C000012211 Admiral Shares VWUAX 0000052848 S000004445 Vanguard Utilities Index Fund C000012212 Admiral Shares VUIAX C000012213 ETF Shares VPU 0000052848 S000004446 Vanguard Consumer Discretionary Index Fund C000012214 Admiral Shares VCDAX C000012215 ETF Shares VCR 0000052848 S000004447 Vanguard Consumer Staples Index Fund C000012216 Admiral Shares VCSAX C000012217 ETF Shares VDC 0000052848 S000004448 Vanguard Energy Index Fund C000012218 Admiral Shares VENAX C000012219 ETF Shares VDE 0000052848 S000004449 Vanguard Financials Index Fund C000012220 Admiral Shares VFAIX C000012221 ETF Shares VFH 0000052848 S000004450 Vanguard Health Care Index Fund C000012222 Admiral Shares VHCIX C000012223 ETF Shares VHT 0000052848 S000004451 Vanguard Industrials Index Fund C000012224 Admiral Shares VINAX C000012225 ETF Shares VIS 0000052848 S000004452 Vanguard Information Technology Index Fund C000012226 Admiral Shares VITAX C000012227 ETF Shares VGT 0000052848 S000004453 Vanguard International Growth Fund C000012228 Investor Shares VWIGX C000012229 Admiral Shares VWILX 0000052848 S000018789 Vanguard Extended Duration Treasury Index Fund C000051979 Institutional Shares VEDTX C000051980 Institutional Plus Shares VEDIX C000051981 ETF Shares EDV 0000052848 S000019698 Vanguard Mega Cap Index Fund C000055209 Institutional Shares VMCTX C000055210 ETF Shares MGC 0000052848 S000019699 Vanguard Mega Cap Value Index Fund C000055212 Institutional Shares VMVLX C000055213 ETF Shares MGV 0000052848 S000019700 Vanguard Mega Cap Growth Index Fund C000055215 Institutional Shares VMGAX C000055216 ETF Shares MGK 0000068138 S000002871 VANGUARD MORGAN GROWTH FUND C000007888 Investor Shares VMRGX C000007889 Admiral Shares VMRAX 0000105544 S000004405 VANGUARD WELLESLEY INCOME FUND C000012161 Investor Shares VWINX C000012162 Admiral Shares VWIAX 0000105563 S000004406 VANGUARD WELLINGTON FUND C000012163 Investor Shares VWELX C000012164 Admiral Shares VWENX 0000106444 S000002582 Vanguard GNMA Fund C000007087 Investor Shares VFIIX C000007088 Admiral Shares VFIJX 0000106444 S000002583 Vanguard Short-Term Treasury Fund C000007089 Investor Shares VFISX C000007090 Admiral Shares VFIRX 0000106444 S000002584 Vanguard High-Yield Corporate Fund C000007092 Investor Shares VWEHX C000007093 Admiral Shares VWEAX 0000106444 S000002586 Vanguard Intermediate-Term Investment-Grade Fund C000007097 Investor Shares VFICX C000007098 Admiral Shares VFIDX 0000106444 S000002587 Vanguard Intermediate-Term Treasury Fund C000007099 Investor Shares VFITX C000007100 Admiral Shares VFIUX 0000106444 S000002588 Vanguard Long-Term Investment-Grade Fund C000007101 Investor Shares VWESX C000007102 Admiral Shares VWETX 0000106444 S000002589 Vanguard Long-Term Treasury Fund C000007103 Investor Shares VUSTX C000007104 Admiral Shares VUSUX 0000106444 S000002590 Vanguard Short-Term Federal Fund C000007105 Investor Shares VSGBX C000007106 Admiral Shares VSGDX 0000106444 S000002591 Vanguard Short-Term Investment-Grade Fund C000007107 Investor Shares VFSTX C000007108 Admiral Shares VFSUX C000007109 Institutional Shares VFSIX 0000106444 S000048081 Vanguard Ultra-Short-Term Bond Fund C000151975 Admiral Shares VUSFX C000151976 Investor Shares VUBFX 0000106830 S000004462 Vanguard Federal Money Market Fund C000012238 Investor Shares VMFXX 0000106830 S000004463 Vanguard Prime Money Market Fund C000012239 Investor Shares VMMXX C000012240 Admiral Shares VMRXX 0000107606 S000004417 Vanguard Windsor Fund C000012178 Investor Shares VWNDX C000012179 Admiral Shares VWNEX 0000107606 S000004418 Vanguard Windsor II Fund C000012180 Investor Shares VWNFX C000012181 Admiral Shares VWNAX 0000225997 S000002892 Vanguard High-Yield Tax-Exempt Fund C000007949 Investor Shares VWAHX C000007950 Admiral Shares VWALX 0000225997 S000002894 Vanguard Intermediate-Term Tax-Exempt Fund C000007953 Investor Shares VWITX C000007954 Admiral Shares VWIUX 0000225997 S000002895 Vanguard Limited-Term Tax-Exempt Fund C000007955 Investor Shares VMLTX C000007956 Admiral Shares VMLUX 0000225997 S000002896 Vanguard Long-Term Tax-Exempt Fund C000007957 Investor Shares VWLTX C000007958 Admiral Shares VWLUX 0000225997 S000002897 Vanguard Short-Term Tax-Exempt Fund C000007959 Investor Shares VWSTX C000007960 Admiral Shares VWSUX 0000225997 S000002898 Vanguard Municipal Money Market Fund C000007961 Investor Shares VMSXX 0000225997 S000048568 Vanguard Tax-Exempt Bond Index Fund C000153131 Admiral Shares VTEAX C000153132 ETF Shares VTEB C000153133 Investor Shares VTEBX 0000313850 S000004389 Vanguard International Value Fund C000012145 Investor Shares VTRIX 0000313850 S000011877 Vanguard Diversified Equity Fund C000032457 Investor Shares VDEQX 0000313850 S000032976 Vanguard Emerging Markets Select Stock Fund C000101729 Investor Shares VMMSX 0000313850 S000049301 Vanguard Alternative Strategies Fund C000155622 Investor Shares VASFX 0000734383 S000002920 Vanguard Dividend Growth Fund C000008004 Investor Shares VDIGX 0000734383 S000002921 Vanguard Energy Fund C000008005 Investor Shares VGENX C000008006 Admiral Shares VGELX 0000734383 S000002922 Vanguard Health Care Fund C000008007 Investor Shares VGHCX C000008008 Admiral Shares VGHAX 0000734383 S000002923 Vanguard Precious Metals and Mining Fund C000008009 Investor Shares VGPMX 0000734383 S000002924 Vanguard REIT Index Fund C000008010 Investor Shares VGSIX C000008011 Admiral Shares VGSLX C000008012 Institutional Shares VGSNX C000032424 ETF Shares VNQ 0000734383 S000011322 Vanguard Dividend Appreciation Index Fund C000031349 Investor Shares VDAIX C000031350 ETF Shares VIG C000135474 Admiral Shares VDADX 0000736054 S000002927 Vanguard LifeStrategy Conservative Growth Fund C000008015 Investor Shares VSCGX 0000736054 S000002928 Vanguard LifeStrategy Growth Fund C000008016 Investor Shares VASGX 0000736054 S000002929 Vanguard LifeStrategy Income Fund C000008017 Investor Shares VASIX 0000736054 S000002930 Vanguard LifeStrategy Moderate Growth Fund C000008018 Investor Shares VSMGX 0000736054 S000002931 Vanguard Star Fund C000008019 Vanguard Star Fund VGSTX 0000736054 S000002932 Vanguard Total International Stock Index Fund C000008020 Investor Shares VGTSX C000094036 Institutional Shares VTSNX C000094037 Admiral Shares VTIAX C000094038 ETF Shares VXUS C000094039 Institutional Plus Shares VTPSX C000170278 Institutional Select Shares VTISX 0000752177 S000002568 Vanguard PRIMECAP Fund C000007070 Investor Shares VPMCX C000007071 Admiral Shares VPMAX 0000752177 S000002569 Vanguard Target Retirement Income Fund C000007072 Investor Shares VTINX 0000752177 S000002571 Vanguard Target Retirement 2015 Fund C000007074 Investor Shares VTXVX 0000752177 S000002572 Vanguard Target Retirement 2025 Fund C000007075 Investor Shares VTTVX 0000752177 S000002573 Vanguard Target Retirement 2035 Fund C000007076 Investor Shares VTTHX 0000752177 S000002574 Vanguard Target Retirement 2045 Fund C000007077 Investor Shares VTIVX 0000752177 S000012758 Vanguard Target Retirement 2010 Fund C000034437 Investor Shares VTENX 0000752177 S000012759 Vanguard Target Retirement 2020 Fund C000034438 Investor Shares VTWNX 0000752177 S000012760 Vanguard Target Retirement 2030 Fund C000034439 Investor Shares VTHRX 0000752177 S000012761 Vanguard Target Retirement 2040 Fund C000034440 Investor Shares VFORX 0000752177 S000012762 Vanguard Target Retirement 2050 Fund C000034441 Investor Shares VFIFX 0000752177 S000029700 Vanguard Target Retirement 2055 Fund C000091317 Investor Shares VFFVX 0000752177 S000035453 Vanguard Target Retirement 2060 Fund C000108861 Investor Shares VTTSX 0000752177 S000049258 Vanguard Institutional Target Retirement 2010 Fund C000155395 Institutional Shares VIRTX 0000752177 S000049259 Vanguard Institutional Target Retirement 2055 Fund C000155396 Institutional Shares VIVLX 0000752177 S000049260 Vanguard Institutional Target Retirement 2060 Fund C000155397 Institutional Shares VILVX 0000752177 S000049261 Vanguard Institutional Target Retirement Income Fund C000155398 Institutional Shares VITRX 0000752177 S000049262 Vanguard Institutional Target Retirement 2015 Fund C000155399 Institutional Shares VITVX 0000752177 S000049263 Vanguard Institutional Target Retirement 2020 Fund C000155400 Institutional Shares VITWX 0000752177 S000049264 Vanguard Institutional Target Retirement 2025 Fund C000155401 Institutional Shares VRIVX 0000752177 S000049265 Vanguard Institutional Target Retirement 2030 Fund C000155402 Institutional Shares VTTWX 0000752177 S000049266 Vanguard Institutional Target Retirement 2035 Fund C000155403 Institutional Shares VITFX 0000752177 S000049267 Vanguard Institutional Target Retirement 2040 Fund C000155404 Institutional Shares VIRSX 0000752177 S000049268 Vanguard Institutional Target Retirement 2045 Fund C000155405 Institutional Shares VITLX 0000752177 S000049269 Vanguard Institutional Target Retirement 2050 Fund C000155406 Institutional Shares VTRLX 0000752177 S000056747 Vanguard Institutional Target Retirement 2065 Fund C000180146 Institutional Shares VSXFX 0000752177 S000056748 Vanguard Target Retirement 2065 Fund C000180147 Investor Shares VLXVX 0000783401 S000002565 Vanguard California Municipal Money Market Fund C000007065 Investor Shares VCTXX 0000783401 S000002566 Vanguard California Intermediate-Term Tax-Exempt Fund C000007066 Investor Shares VCAIX C000007067 Admiral Shares VCADX 0000783401 S000002567 Vanguard California Long-Term Tax-Exempt Fund C000007068 Investor Shares VCITX C000007069 Admiral Shares VCLAX 0000788599 S000002905 Vanguard New York Long-Term Tax-Exempt Fund C000007969 Investor Shares VNYTX C000007970 Admiral Shares VNYUX 0000788599 S000002906 Vanguard New York Municipal Money Market Fund C000007971 Investor Shares VYFXX 0000788606 S000002911 Vanguard Pennsylvania Long-Term Tax-Exempt Fund C000007976 Investor Shares VPAIX C000007977 Admiral Shares VPALX 0000788606 S000002912 Vanguard Pennsylvania Municipal Money Market Fund C000007978 Investor Shares VPTXX 0000791107 S000002837 VANGUARD CONVERTIBLE SECURITIES FUND C000007767 Investor Shares VCVSX 0000794105 S000002561 Vanguard Intermediate-Term Bond Index Fund C000007057 Investor Shares VBIIX C000007058 Admiral Shares VBILX C000024520 Institutional Shares VBIMX C000046841 ETF Shares BIV C000105308 Institutional Plus Shares VBIUX 0000794105 S000002562 Vanguard Long-Term Bond Index Fund C000007059 Investor Shares VBLTX C000024522 Institutional Shares VBLLX C000046842 ETF Shares BLV C000105309 Institutional Plus Shares VBLIX 0000794105 S000002563 Vanguard Short-Term Bond Index Fund C000007060 Investor Shares VBISX C000007061 Admiral Shares VBIRX C000046843 ETF Shares BSV C000105310 Institutional Shares VBITX C000105311 Institutional Plus Shares VBIPX 0000794105 S000002564 Vanguard Total Bond Market Index Fund C000007062 Investor Shares VBMFX C000007063 Admiral Shares VBTLX C000007064 Institutional Shares VBTIX C000046844 ETF Shares BND C000081425 Institutional Plus Shares VBMPX C000170279 Institutional Select Shares VTBSX 0000794105 S000019554 Vanguard Inflation-Protected Securities Fund C000054349 Investor Shares VIPSX C000054350 Admiral Shares VAIPX C000054351 Institutional Shares VIPIX 0000794105 S000025158 Vanguard Total Bond Market II Index Fund C000075027 Investor Shares VTBIX C000075028 Institutional Shares VTBNX 0000799127 S000002913 Vanguard Growth and Income Fund C000007979 Investor Shares VQNPX C000007980 Admiral Shares VGIAX 0000799127 S000012022 Structured Large-Cap Equity Fund C000032754 Institutional Shares VSLIX C000032755 Institutional Plus Shares VSLPX 0000799127 S000013496 Vanguard Structured Broad Market C000036499 Institutional Shares VSBMX C000039426 Institutional Plus Shares VSBPX 0000821404 S000002901 Vanguard New Jersey Long-Term Tax-Exempt Fund C000007964 Investor Shares VNJTX C000007965 Admiral Shares VNJUX 0000821404 S000002902 Vanguard New Jersey Municipal Money Market Fund C000007966 Investor Shares VNJXX 0000826473 S000002579 Vanguard Equity Income Fund C000007083 Investor Shares VEIPX C000007084 Admiral Shares VEIRX 0000826473 S000002581 Vanguard PRIMECAP Core Fund C000007086 Investor Shares VPCCX 0000836906 S000002868 Vanguard Capital Value Fund C000007885 Investor Shares VCVLX 0000836906 S000002869 Vanguard U.S. Value Fund C000007886 Investor Shares VUVLX 0000836906 S000038501 Vanguard Short-Term Inflation-Protected Securities Index Fund C000118814 Admiral Shares VTAPX C000118815 ETF Shares VTIP C000118816 Institutional Shares VTSPX C000118817 Investor Shares VTIPX 0000836906 S000049658 Vanguard Institutional Intermediate-Term Bond Fund C000157008 Institutional Plus Shares VIITX 0000836906 S000049659 Vanguard Institutional Short-Term Bond Fund C000157009 Institutional Plus Shares VISTX 0000836906 S000053068 Vanguard Core Bond Fund C000166995 Admiral Shares VCOBX C000166996 Investor Shares VCORX 0000836906 S000053069 Vanguard Emerging Markets Bond Fund C000166997 Admiral Shares VEGBX C000166998 Investor Shares VEMBX 0000857489 S000005786 Vanguard Emerging Markets Stock Index Fund C000015900 Investor Shares VEIEX C000015901 Institutional Shares VEMIX C000015902 ETF Shares VWO C000035633 Admiral Shares VEMAX C000096106 Institutional Plus Shares VEMRX 0000857489 S000005787 Vanguard European Stock Index Fund C000015903 Investor Shares VEURX C000015904 Admiral Shares VEUSX C000015905 Institutional Shares VESIX C000015906 ETF Shares VGK C000096107 Institutional Plus Shares VEUPX 0000857489 S000005788 Vanguard Pacific Stock Index Fund C000015907 Investor Shares VPACX C000015908 Admiral Shares VPADX C000015909 Institutional Shares VPKIX C000015910 ETF Shares VPL C000096108 Institutional Plus Shares VPAPX 0000857489 S000015871 Vanguard FTSE All-World ex-US Index Fund C000043571 Investor Shares VFWIX C000043572 ETF Shares VEU C000043573 Institutional Shares VFWSX C000096109 Institutional Plus Shares VFWPX C000105302 Admiral Shares VFWAX 0000857489 S000022482 Vanguard Total World Stock Index Fund C000065037 Investor Shares VTWSX C000065038 ETF Shares VT C000065039 Institutional Shares VTWIX 0000857489 S000025074 Vanguard FTSE All-World ex-US Small-Cap Index Fund C000074579 Investor Shares VFSVX C000074580 Institutional Shares VFSNX C000074581 ETF Shares VSS 0000857489 S000030007 Vanguard Global ex-U.S. Real Estate Index Fund C000092023 Investor VGXRX C000092024 Admiral VGRLX C000092025 ETF VNQI C000092026 Institutional VGRNX 0000857490 S000004390 Balanced Portfolio C000012146 Balanced Portfolio 0000857490 S000004391 Money Market Portfolio C000012147 Money Market Portfolio 0000857490 S000004392 REIT Index Portfolio C000012148 REIT Index Portfolio 0000857490 S000004393 Short-Term Investment-Grade Portfolio C000012149 Short-Term Investment-Grade Portfolio 0000857490 S000004394 Small Company Growth Portfolio C000012150 Small Company Growth Portfolio 0000857490 S000004395 Total Bond Market Index Portfolio C000012151 Total Bond Market Index Portfolio 0000857490 S000004396 Total Stock Market Index Portfolio C000012152 Total Stock Market Index Portfolio 0000857490 S000004397 Capital Growth Portfolio C000012153 Capital Growth Portfolio 0000857490 S000004398 Diversified Value Portfolio C000012154 Diversified Value Portfolio 0000857490 S000004399 Equity Income Portfolio C000012155 Equity Income Portfolio 0000857490 S000004400 Equity Index Portfolio C000012156 Equity Index Portfolio 0000857490 S000004401 Growth Portfolio C000012157 Growth Portfolio 0000857490 S000004402 High-Yield Bond Portfolio C000012158 High-Yield Bond Portfolio 0000857490 S000004403 International Portfolio C000012159 International Portfolio 0000857490 S000004404 Mid-Cap Index Portfolio C000012160 Mid-Cap Index Portfolio 0000857490 S000033473 Conservative Allocation Portfolio C000102905 Conservative Allocation Portfolio 0000857490 S000033474 Moderate Allocation Portfolio C000102906 Moderate Allocation Portfolio 0000862084 S000002853 Vanguard Institutional Index Fund C000007825 Institutional Shares VINIX C000007826 Institutional Plus Shares VIIIX 0000862084 S000002855 Vanguard Institutional Total Stock Market Index Fund C000007828 Institutional Shares VITNX C000007829 Institutional Plus Shares VITPX 0000862341 S000002908 Vanguard Ohio Long-Term Tax-Exempt Fund C000007973 Investor Shares VOHIX 0000862341 S000002909 Vanguard Ohio Tax-Exempt Money Market Fund C000007974 Investor Shares VOHXX 0000889519 S000002560 VANGUARD BALANCED INDEX FUND C000007054 INVESTOR SHARES VBINX C000007055 ADMIRAL SHARES VBIAX C000007056 INSTITUTIONAL SHARES VBAIX 0000889519 S000019761 Vanguard Managed Payout Fund C000055412 Investor Shares VPGDX 0000891190 S000002233 Vanguard Treasury Money Market Fund C000005732 Investor Shares VUSXX 0000891190 S000030012 Vanguard S&P 500 Growth Index Fund C000092034 ETF Shares VOOG C000092035 Institutional Shares VSPGX 0000891190 S000030013 Vanguard S&P 500 Value Index Fund C000092036 ETF Shares VOOV C000092037 Institutional Shares VSPVX 0000891190 S000030014 Vanguard S&P Mid-Cap 400 Index Fund C000092038 ETF Shares IVOO C000092039 Institutional Shares VSPMX 0000891190 S000030015 Vanguard S&P Mid-Cap 400 Value Index Fund C000092040 ETF Shares IVOV C000092041 Institutional Shares VMFVX 0000891190 S000030016 Vanguard S&P Mid-Cap 400 Growth Index Fund C000092042 Institutional Shares VMFGX C000092043 ETF Shares IVOG 0000891190 S000030017 Vanguard S&P Small-Cap 600 Index Fund C000092044 ETF Shares VIOO C000092045 Institutional Shares VSMSX 0000891190 S000030018 Vanguard S&P Small-Cap 600 Growth Index Fund C000092046 ETF Shares VIOG C000092047 Institutional Shares VSGNX 0000891190 S000030019 Vanguard S&P Small-Cap 600 Value Index Fund C000092048 ETF Shares VIOV C000092049 Institutional Shares VSMVX 0000923202 S000004383 Vanguard Tax-Managed Balanced Fund C000012133 Admiral Shares VTMFX 0000923202 S000004384 Vanguard Tax-Managed Capital Appreciation Fund C000012135 Admiral Shares VTCLX C000012136 Institutional Shares VTCIX 0000923202 S000004386 Vanguard Developed Markets Index Fund C000012140 Admiral Shares VTMGX C000012141 Institutional Shares VTMNX C000051262 ETF Shares VEA C000135477 Institutional Plus Shares VDIPX C000135478 Investor Shares VDVIX 0000923202 S000004387 Vanguard Tax-Managed Small-Cap Fund C000012142 Admiral Shares VTMSX C000012143 Institutional Shares VTSIX 0000932471 S000002593 Vanguard Strategic Equity Fund C000007112 Investor Shares VSEQX 0000932471 S000002594 Vanguard Capital Opportunity Fund C000007113 Investor Shares VHCOX C000007114 Admiral Shares VHCAX 0000932471 S000002595 Vanguard Global Equity Fund C000007115 Investor Shares VHGEX 0000932471 S000012432 Vanguard Strategic Small-Cap Equity Fund C000033747 Investor Shares VSTCX 0001004655 S000004407 Vanguard International Explorer Fund C000012165 Investor Shares VINEX 0001004655 S000004408 Vanguard Mid-Cap Growth Fund C000012166 Investor Shares VMGRX 0001004655 S000004409 Vanguard Selected Value Fund C000012167 Investor Shares VASVX 0001004655 S000014011 Vanguard High Dividend Yield Index Fund C000038294 Investor Shares VHDYX C000038295 ETF Shares VYM 0001004655 S000040750 Vanguard Emerging Markets Government Bond Index Fund C000126407 Admiral Shares VGAVX C000126408 ETF Shares VWOB C000126409 Institutional Shares VGIVX C000126410 Investor Shares VGOVX 0001004655 S000043242 Vanguard Global Minimum Volatility Fund C000133791 Admiral Shares VMNVX C000133792 Investor Shares VMVFX 0001004655 S000051871 Vanguard International Dividend Appreciation Index Fund C000163310 Admiral Shares VIAAX C000163311 ETF Shares VIGI C000163312 Investor Shares VIAIX 0001004655 S000051872 Vanguard International High Dividend Yield Index Fund C000163313 Admiral Shares VIHAX C000163314 ETF Shares VYMI C000163315 Investor Shares VIHIX 0001021882 S000026859 Vanguard Short-Term Government Bond Index Fund C000080841 Admiral Shares VSBSX C000080842 Institutional Shares VSBIX C000080843 ETF Shares VGSH 0001021882 S000026860 Vanguard Intermediate-Term Government Bond Index Fund C000080844 Admiral Shares VSIGX C000080845 Institutional Shares VIIGX C000080846 ETF Shares VGIT 0001021882 S000026861 Vanguard Long-Term Government Bond Index Fund C000080847 Admiral Shares VLGSX C000080848 Institutional Shares VLGIX C000080849 ETF Shares VGLT 0001021882 S000026862 Vanguard Short-Term Corporate Bond Index Fund C000080850 Admiral Shares VSCSX C000080851 Institutional Shares VSTBX C000080852 ETF Shares VCSH 0001021882 S000026863 Vanguard Intermediate-Term Corporate Bond Index Fund C000080853 Admiral Shares VICSX C000080854 Institutional Shares VICBX C000080855 ETF Shares VCIT 0001021882 S000026864 Vanguard Long-Term Corporate Bond Index Fund C000080856 Admiral Shares VLTCX C000080857 Institutional Shares VLCIX C000080858 ETF Shares VCLT 0001021882 S000026865 Vanguard Mortgage-Backed Securities Index Fund C000080859 Admiral Shares VMBSX C000080860 Institutional Shares VMBIX C000080861 ETF Shares VMBS 0001021882 S000028087 Vanguard Explorer Value Fund C000085513 Investor Shares VEVFX 0001021882 S000030000 Vanguard Russell 1000 Index Fund C000092009 Institutional Shares VRNIX C000092010 ETF Shares VONE 0001021882 S000030001 Vanguard Russell 1000 Value Index Fund C000092011 Institutional Shares VRVIX C000092012 ETF Shares VONV 0001021882 S000030002 Vanguard Russell 1000 Growth Index Fund C000092013 Institutional Shares VRGWX C000092014 ETF Shares VONG 0001021882 S000030003 Vanguard Russell 2000 Index Fund C000092015 Institutional Shares VRTIX C000092016 ETF Shares VTWO 0001021882 S000030004 Vanguard Russell 2000 Value Index Fund C000092017 ETF Shares VTWV C000092018 Institutional Shares VRTVX 0001021882 S000030005 Vanguard Russell 2000 Growth Index Fund C000092019 Institutional Shares VRTGX C000092020 ETF Shares VTWG 0001021882 S000030006 Vanguard Russell 3000 Index Fund C000092021 Institutional Shares VRTTX C000092022 ETF Shares VTHR 0001070414 S000002870 Vanguard Massachusetts Tax-Exempt Fund C000007887 Investor Shares VMATX 0001273878 S000002575 Vanguard Market Liquidity Fund C000007078 Vanguard Market Liquidity Fund 0001273878 S000002576 Vanguard Municipal Cash Management Fund C000007079 Vanguard Municipal Cash Management Fund 0001409957 S000019457 Vanguard Market Neutral Fund C000054090 Investor Shares VMNFX C000054091 Institutional Shares VMNIX 0001532203 S000035729 Vanguard Total International Bond Index Fund C000109500 Investor Shares VTIBX C000109501 Admiral Shares VTABX C000109502 Institutional Shares VTIFX C000109503 ETF Shares BNDX C000170277 Institutional Select Shares VSIBX DEFA14A 1 definitivematerials_8.htm DEFINITIVE MATERIALS definitivematerials_8.htm - Generated by SEC Publisher for SEC Filing
Schedule 14A Information
Proxy Statement Pursuant to Section 14(a)
of the Securities Exchange Act of 1934
 
 
Filed by the Registrant [X]
Filed by a Party other than the Registrant [ ]
 
Check the appropriate box:
[ ] Preliminary Proxy Statement
 
[ ] Confidential, for Use of the Commission only (as permitted by Rule 14a-6(e)(2))
 
[ ] Definitive Proxy Statement
 
[X] Definitive Additional Materials
 
[ ] Soliciting Material under Rule 14a-12
 
Vanguard Admiral Funds
Vanguard Bond Index Funds
Vanguard CMT Funds
Vanguard California Tax-Free Funds
Vanguard Charlotte Funds
Vanguard Chester Funds
Vanguard Convertible Securities Fund
Vanguard Explorer Fund
Vanguard Fenway Funds
Vanguard Fixed Income Securities Funds
Vanguard Horizon Funds
Vanguard Index Funds
Vanguard Institutional Index Funds
Vanguard International Equity Index Funds
Vanguard Malvern Funds
Vanguard Massachusetts Tax-Exempt Funds
Vanguard Money Market Reserves
Vanguard Montgomery Funds
Vanguard Morgan Growth Fund
Vanguard Municipal Bond Funds
Vanguard New Jersey Tax-Free Funds
Vanguard New York Tax-Free Funds
Vanguard Ohio Tax-Free Funds
Vanguard Pennsylvania Tax-Free Funds
Vanguard Quantitative Funds
Vanguard Scottsdale Funds
Vanguard Specialized Funds
Vanguard STAR Funds

 

 

Vanguard Tax-Managed Funds
Vanguard Trustees’ Equity Fund
Vanguard Valley Forge Funds
Vanguard Variable Insurance Funds
Vanguard Wellesley Income Fund
Vanguard Wellington Fund
Vanguard Whitehall Funds
Vanguard Windsor Funds
Vanguard World Funds
 
(Name of Registrant as Specified in its Declaration of Trust)
 
 
(Name of Person(s) Filing Proxy Statement if other than the Registrant)
 
Payment of Filing Fee (Check the appropriate box):
 
[ X ] No fee required.
 
[ ] Fee computed on table below per Exchange Act Rules 14a-6(i) and 0-11.
(1) Title of each class of securities to which transaction applies:
(2) Aggregate number of securities to which transaction applies:
(3) Per unit price or other underlying value of transaction computed pursuant to Exchange Act
Rule 0-11 (Set forth the amount on which the filing fee is calculated and state how it was
determined):
(4) Proposed maximum aggregate value of transaction:
(5) Total Fee Paid:
 
[ ] Fee paid previously with preliminary materials.
 
[ ] Check box if any part of the fee is offset as provided by Exchange Act Rule 0-11 (a)(2) and
identify the filing for which the offsetting fee was paid previously. Identify the previous filing
by registration statement number, or the form or schedule and the date of its filing.
(1) Amount previously paid:
(2) Form, schedule or registration statement no.:
(3) Filing party;
(4) Date filed:

 

 

October 2017


P.O. Box 2600
Valley Forge, PA 19482-2600

vanguard.com

Separate proxy ballots provided for your mutual fund and brokerage accounts

Dear Vanguard Client,

Thank you for choosing Vanguard for your investments. We hope you’re enjoying the flexibility of your accounts and the convenience of one integrated platform.

Vanguard opened an important three-month proxy voting campaign on August 16, 2017. Shareholders are being asked to help elect their fund trustees and vote on several policy changes across Vanguard’s U.S.-domiciled fund lineup.

Since you recently upgraded to a brokerage account, a ballot for your new brokerage account is included in this mailing. Ballots for any mutual fund accounts and brokerage accounts opened before July 13, 2017, were delivered in August. Please vote all ballots.

We’re requesting your vote because you owned shares of at least one Vanguard fund as of August 16, 2017, which was the record date for the proxy. We encourage you to vote even if you sold any of your shares after that date. No matter how many shares or units you owned, your vote is important.

For more information, go to https://about.vanguard.com/proxy/

All investing is subject to risk, including the possible loss of the money you invest.

© 2017 The Vanguard Group, Inc. All rights reserved.
Vanguard Marketing Corporation, Distributor.
MOBYVBA 092017

 

Subject: REIT II Index Fund makes its debut

#FirstName#,

I'm writing to let you know that Vanguard® REIT II Index Fund was launched on September 26, 2017. This new fund is a passively managed U.S. equity REIT portfolio whose principal investor will be the existing Vanguard REIT Index Fund.

After the REIT Index Fund's initial investment, the REIT II Index Fund will be made available only to select institutional investors, separately managed accounts, and other Vanguard funds. The REIT II Index Fund is offered with Institutional Plus Shares (Ticker: VRTPX; CUSIP: 922031695), which have a minimum initial investment of $100 million.

The new fund will provide increased investment capacity for the REIT Index Fund. The two funds have identical investment objectives and investment strategies and seek to track the same benchmark, the MSCI US REIT Index.

Vanguard does not expect the launch of and the initial investment in the REIT II Index Fund to affect the tracking error or performance of the REIT Index Fund. There are no changes in how shareholders of the REIT Index Fund interact with that fund.

The REIT II Index Fund is managed by Vanguard Equity Index Group.

Related proxy matter

As part of Vanguard’s 2017 proxy campaign, shareholders of the REIT Index Fund and Vanguard Variable Insurance Fund REIT Index Portfolio are being asked to approve a change to the investment objectives of the funds, which would involve a corresponding change to each fund’s benchmark index and name.

If the change to the REIT Index Fund’s investment objective is approved by its shareholders, then the investment objective, benchmark index, and fund name for the REIT II Index Fund would change as well.

Details on the proposals and voting methods are available at Vanguard’s proxy resource center.

If you have any questions or would like more information, please don't hesitate to contact me.

#VGI_Name#
#VGI_Title#
Phone: #VGI_Phone#, Ext. #VGI_EXT#
_____________________________________________________________

**For more information about Vanguard funds, visit advisors.vanguard.com or call 800-997-2798 to obtain a prospectus or, if available, a summary prospectus. Investment objectives, risks, charges, expenses, and other important information about a fund are contained in the prospectus; read and consider it carefully before investing.**

**CGS identifiers have been provided by CUSIP Global Services, managed on behalf of the American Bankers Association by Standard & Poor's Financial Services, LLC, and are not for use or dissemination in a manner that would serve as a substitute for any CUSIP service. The CUSIP Database, © 2017 American Bankers Association. "CUSIP" is a registered trademark of the American Bankers Association.**

All investing is subject to risk, including the possible loss of the money you invest. Funds that concentrate on a relatively narrow market sector face the risk of higher share-price volatility.

 

For financial advisors only. Not for public distribution.

© 2017 The Vanguard Group, Inc. All rights reserved. Vanguard Marketing Corporation, Distributor. | Privacy statement: http://www.vanguard.com/finadvprivacystmt

455 Devon Park Drive | Wayne, PA 19087-1815 | advisors.vanguard.com

 

Subject: REIT II Index Fund makes its debut

#FirstName#,

I’m writing to let you know that Vanguard® REIT II Index Fund was launched on September 26, 2017. This new fund is a passively managed U.S. equity REIT portfolio whose principal investor will be the existing Vanguard REIT Index Fund.

After the REIT Index Fund’s initial investment, the REIT II Index Fund will be made available only to select institutional investors, separately managed accounts, and other Vanguard funds. The REIT II Index Fund is offered with Institutional Plus Shares (Ticker: VRTPX), which have a minimum initial investment of $100 million.

The new fund will provide increased investment capacity for the REIT Index Fund. The two funds have identical investment objectives and investment strategies and seek to track the same benchmark, the MSCI US REIT Index.

Vanguard does not expect the launch of and the initial investment in the REIT II Index Fund to affect the tracking error or performance of the REIT Index Fund. There are no changes in how shareholders of the REIT Index Fund interact with that fund.

The REIT II Index Fund is managed by Vanguard Equity Index Group.

Related proxy matter

As part of Vanguard’s 2017 proxy campaign, shareholders of the REIT Index Fund and the Vanguard Variable Insurance Fund REIT Index Portfolio are being asked to approve a change to the investment objectives of the funds, which would involve a corresponding change to each fund’s benchmark index and name.

If the change to the REIT Index Fund’s investment objective is approved by its shareholders, then the investment objective, benchmark index, and fund name for the REIT II Index Fund would change as well.

Details on the proposals and voting methods are available at Vanguard’s proxy resource center.

If you have any questions or would like more information, please don't hesitate to contact me.

#VGI_Name# #VGI_Title#

Phone: #VGI_Phone#, Ext. #VGI_EXT# _____________________________________________________________

**For more information about Vanguard funds, visit institutional.vanguard.com or call 800-523-1036 to obtain a prospectus or, if available, a summary prospectus. Investment objectives, risks, charges, expenses, and other important information about a fund are contained in the prospectus; read and consider it carefully before investing.**

All investing is subject to risk, including the possible loss of the money you invest. Funds that concentrate on a relatively narrow market sector face the risk of higher share-price volatility.

For institutional use only. Not for distribution to retail investors.

© 2017 The Vanguard Group, Inc. All rights reserved. Vanguard Marketing Corporation, Distributor. |
Privacy statement: http://www.vanguard.com/instlprivacystmt

455 Devon Park Drive | Wayne, PA 19087-1815 | institutional.vanguard.com

 


Prepared for

Vanguard REIT II Index Fund

and REIT-related updates



For institutional use only. Not for distribution to retail investors.

 

Prepared for [[ClientNameModel:ClientNameOut]]

What is a REIT?

  		•  A real estate investment trust or REIT is a company that owns or manages real estate.
  		• Rather than directly owning properties—which can be costly and difficult to convert into cash needed—some investors buy shares of REIT securities or mutual funds.
  		• REITs are unique in that, unlike other corporations, REITs do not generally have to pay income taxes if they meet certain tax code requirements.
  		• To qualify as a REIT, such a company must, among other requirements, distribute at least of its taxable income to its shareholders and receive at least 75% of that income from mortgages, and sales of property.
  		• REITs are separated into three types:
     

    - 

    		 An equity REIT* generally owns properties directly. Equity REITs typically generate income from rental and lease payments and offer the potential for growth through property appreciation as well as the occasional capital gain through the sale of property.
      - A mortgage REIT makes loans to commercial real estate developers.
     

    -

    		 A hybrid REIT holds both properties and mortgages.

    		   
    *      Vanguard REIT Index Fund and Vanguard REIT II Index Fund invest in equity REITs only, not in mortgage or hybrid REITS.
    Slide ID #: Tracking #: CONINS-2017-09-14-0371 DOLU: 9/26/2018 For institutional use only. Not for distribution to retail investors. 2
      [[ContentInventoryWithContentID:Row.Le [[ContentInventoryWithContentID:Row.D    
      galTracking]] OLU]]    

     

     

    Prepared for [[ClientNameModel:ClientNameOut]]

    Launch of Vanguard REIT II Index Fund

    Vanguard REIT II Index Fund was launched September 26, 2017. Its investment objective, investment strategies, and benchmark are identical to those of Vanguard REIT Index Fund:

    Investment objective
    The fund seeks to provide a high level of income and moderate long-term capital appreciation by tracking the performance of a benchmark index that measures the performance of publicly traded equity REITs.

    Principal investment strategies
    The fund employs an indexing investment approach designed to track the performance of the MSCI US REIT Index. The index is composed of stocks of publicly traded equity REITs. The fund attempts to replicate the index by investing all, or substantially all, of its assets in the stocks that make up the index. The fund seeks to hold each stock in approximately the same proportion as its weighting in the index.

    Note: Two proposals affecting the REIT Index Fund are part of Vanguard's 2017 proxy campaign. If approved, one of these proposals would affect the REIT II Index Fund's investment objective and investment strategies as outlined later in this presentation.

    Slide ID #: Tracking #: CONINS-2017-09-14-0371 DOLU: 9/26/2018 For institutional use only. Not for distribution to retail investors. 3
      [[ContentInventoryWithContentID:Row.Le [[ContentInventoryWithContentID:Row.D    
      galTracking]] OLU]]    

     

     

    Prepared for [[ClientNameModel:ClientNameOut]]

    Key characteristics

    Vanguard REIT II Index Fund—Key characteristics

    • Share class: Institutional Plus (VRTPX)
    • Estimated expense ratio: 0.08%
    • Investment minimum: $100 million
    • Launch date: September 26, 2017
    • Benchmark: MSCI US REIT Index
    • Benchmark holdings: 155 (as of August 31, 2017)
    Slide ID #: Tracking #: CONINS-2017-09-14-0371 DOLU: 9/26/2018 For institutional use only. Not for distribution to retail investors. 4
      [[ContentInventoryWithContentID:Row.Le [[ContentInventoryWithContentID:Row.D    
      galTracking]] OLU]]    

     

     

    Prepared for [[ClientNameModel:ClientNameOut]]

    Relationship with the REIT Index Fund


    • Vanguard REIT Index Fund is and will remain the principal investor in Vanguard REIT II Index Fund.
    • After the REIT Index Fund’s initial investment, the REIT II Index
      Fund will be made available only to certain institutional investors, separately managed accounts, and other Vanguard funds.
    Slide ID #: Tracking #: CONINS-2017-09-14-0371 DOLU: 9/26/2018 For institutional use only. Not for distribution to retail investors. 5
      [[ContentInventoryWithContentID:Row.Le [[ContentInventoryWithContentID:Row.D    
      galTracking]] OLU]]    

     

     

    Prepared for [[ClientNameModel:ClientNameOut]]

    Impact on the REIT Index Fund

    • The REIT Index Fund is expected to experience minimal impact resulting from its investment in the REIT II Index Fund.
    • No increase is expected in the expense ratio.
    • No changes are expected in performance and benchmark tracking.
    • The investment in the REIT II Index Fund is not expected to have material tax consequences for shareholders of the REIT Index Fund.
    • Other investment companies investing in the REIT Index Fund may be limited in how much they can invest because of restrictions on multiple tiered-fund structures under the Investment Company Act of 1940.
    Slide ID #: Tracking #: CONINS-2017-09-14-0371 DOLU: 9/26/2018 For institutional use only. Not for distribution to retail investors. 6
      [[ContentInventoryWithContentID:Row.Le [[ContentInventoryWithContentID:Row.D    
      galTracking]] OLU]]    

     

     

    Prepared for [[ClientNameModel:ClientNameOut]]

    Who can invest in the REIT II Index Fund?

    • The Vanguard REIT Index Fund will be the initial and principal investor in the REIT Index Fund, owning approximately 95% of the investable capacity in the REIT II Index Fund.
    • The remaining investment capacity will be available only to certain institutional investors, separately managed accounts, and other Vanguard funds.
    • Vanguard approval will be required for all new accounts and additional purchases into the fund.
    • Please discuss the availability of the fund with your relationship or sales manager.
    Slide ID #: Tracking #: CONINS-2017-09-14-0371 DOLU: 9/26/2018 For institutional use only. Not for distribution to retail investors. 7
      [[ContentInventoryWithContentID:Row.Le [[ContentInventoryWithContentID:Row.D    
      galTracking]] OLU]]    

     

     

    Prepared for [[ClientNameModel:ClientNameOut]]

    Proposed changes to the REIT Index Fund

    Vanguard’s 2017 proxy campaign includes two proposals affecting the REIT Index Fund. Here are the proposals and whether their passage would have implications for the REIT II Index Fund:

    To change the investment objective of the REIT Index Fund.

    • The change would broaden the mandate to include real estate management and development companies.
    • It would allow the fund to change its benchmark and result in a name change for the fund.
    • As a result, the REIT II Index Fund would change its benchmark and name to remain aligned with the REIT Index Fund.

    To reclassify the diversification status of the REIT Index Fund to “nondiversified” under the Investment Company Act of 1940.

    • The change would enable the REIT Index Fund to track its benchmark more closely and align its diversification status with that of Vanguard’s other sector equity index funds.
    • The change would not affect the REIT II Index Fund. As of of its launch, the REIT II Index Fund is already classified as nondiversified.

    Note: Shareholders of record as of August 16, 2017, are eligible to vote during Vanguard’s 2017 proxy campaign. A special shareholder meeting is scheduled for November 15, 2017.
    For details visit: http://about.vanguard.com/proxy/

    Slide ID #: Tracking #: CONINS-2017-09-14-0371 DOLU: 9/26/2018 For institutional use only. Not for distribution to retail investors. 8
      [[ContentInventoryWithContentID:Row.Le [[ContentInventoryWithContentID:Row.D    
      galTracking]] OLU]]    

     

     

    Prepared for [[ClientNameModel:ClientNameOut]]

    Proposed investment objective change for the REIT Index Fund

      From To
    Proposed investment The fund seeks to provide a high level of income and moderate The fund seeks to provide a high level of income and moderate
    objective change long-term capital appreciation by tracking the performance of a long-term capital appreciation by tracking the performance of a
      benchmark index that measures the performance of publicly traded benchmark index that measures the performance of publicly traded
      equity REITs. equity REITs and other real estate-related investments.
    Benchmark change** MSCI US REIT Index MSCI US Investable Market Real Estate 25/50 Index*
    Name change** Vanguard REIT Index Fund Vanguard Real Estate Index Fund
      Vanguard REIT II Index Fund Vanguard Real Estate II Index Fund

     

    *      If the investment objective change is approved, the REIT Index Fund will track a transition index for approximately 6 months in order to sell securities and invest proceeds in select specialized REITs and real estate management and development companies. (Note: The REIT II Index Fund would follow the same transition strategy.)
    **      Shareholders of the REIT Index Fund are not being asked to vote on the name change or the benchmark change. However, changing the benchmark would necessitate a name change.
    Slide ID #: Tracking #: CONINS-2017-09-14-0371 DOLU: 9/26/2018 For institutional use only. Not for distribution to retail investors. 9
      [[ContentInventoryWithContentID:Row.Le [[ContentInventoryWithContentID:Row.D    
      galTracking]] OLU]]    

     

     

    Prepared for [[ClientNameModel:ClientNameOut]]

    Important information

    For more information about Vanguard funds, visit institutional.vanguard.com or call 800-523-1036 to obtain a prospectus or, if available, a summary prospectus. Investment objectives, risks, charges, expenses, and other important information about a fund are contained in the prospectus; read and consider it carefully before investing.

    All investing is subject to risk, including the possible loss of the money you invest. Funds that concentrate on a relatively narrow market sector face the risk of higher share-price volatility.

    The funds or securities referred to herein are not sponsored, endorsed, or promoted by MSCI, and MSCI bears no liability with respect to any such funds or securities. The prospectus or the Statement of Additional Information contains a more detailed description of the limited relationship MSCI has with Vanguard and any related funds.

    © 2017 The Vanguard Group, Inc. All rights reserved. Vanguard Marketing Corporation, Distributor.

    NECP 092017

    Slide ID #: Tracking #: CONINS-2017-09-14-0371 DOLU: 9/26/2018 For institutional use only. Not for distribution to retail investors. 10
      [[ContentInventoryWithContentID:Row.Le [[ContentInventoryWithContentID:Row.D    
      galTracking]] OLU]]    

     

         GRAPHIC 3 mobyvba_092017x1x1.jpg begin 644 mobyvba_092017x1x1.jpg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necp_09201709262017x1x1.jpg begin 644 necp_09201709262017x1x1.jpg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end GRAPHIC 5 necp_09201709262017x1x2.jpg begin 644 necp_09201709262017x1x2.jpg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necp_09201709262017x1x3.jpg begin 644 necp_09201709262017x1x3.jpg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end GRAPHIC 7 necp_09201709262017x5x1.jpg begin 644 necp_09201709262017x5x1.jpg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