| |
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 Total Stock Market Index Fund
Institutional Select Shares |
|
|
|
|
Return Before Taxes |
- |
|
|
|
Return After Taxes on Distributions |
- |
|
|
|
Return After Taxes on Distributions and Sale of
Fund Shares |
- |
|
|
|
CRSP US Total Market 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 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. |
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 December 31, | ||||
For a Share Outstanding Throughout Each Period |
2022 |
2021 |
2020 |
2019 |
2018 |
Net Asset Value, Beginning of Period |
$231.36 |
$186.45 |
$156.83 |
$122.20 |
$131.31 |
Investment Operations |
|
|
|
|
|
Net Investment Income1 |
3.093 |
2.821 |
2.772 |
2.709 |
2.704 |
Capital Gain Distributions Received |
.0001,2 |
.0001,2 |
— |
— |
— |
Net Realized and Unrealized Gain (Loss) on
Investments |
(48.139) |
44.937 |
29.532 |
34.731 |
(9.290) |
Total from Investment Operations |
(45.046) |
47.758 |
32.304 |
37.440 |
(6.586) |
Distributions |
|
|
|
|
|
Dividends from Net Investment Income |
(3.064) |
(2.848) |
(2.684) |
(2.810) |
(2.524) |
Distributions from Realized Capital Gains |
— |
— |
— |
— |
— |
Total Distributions |
(3.064) |
(2.848) |
(2.684) |
(2.810) |
(2.524) |
Net Asset Value, End of Period |
$183.25 |
$231.36 |
$186.45 |
$156.83 |
$122.20 |
Total Return |
-19.50% |
25.75% |
21.03% |
30.84% |
-5.14% |
Ratios/Supplemental Data |
|
|
|
|
|
Net Assets, End of Period (Millions) |
$44,101 |
$52,780 |
$44,296 |
$26,431 |
$20,262 |
Ratio of Total Expenses to Average Net Assets |
0.01%3 |
0.01% |
0.01% |
0.01% |
0.01% |
Ratio of Net Investment Income to Average Net
Assets |
1.57% |
1.33% |
1.76% |
1.91% |
1.99% |
Portfolio Turnover Rate4 |
3% |
4% |
8% |
4% |
3% |
|
|
1 |
Calculated based on average shares outstanding. |
2 |
Distribution was less than $.001 per share. |
3 |
The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements
was 0.01%. |
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. |
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 | |
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 Total Stock Market Index Fund | ||||
Institutional Select Shares |
6/27/2016
(Institutional
Shares
7/7/1997) |
VanTStMIxInsSel |
1785 |
922908330 |
| |
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 500 Index Fund Investor Shares |
|
|
|
Return Before Taxes |
- |
|
|
Return After Taxes on Distributions |
- |
|
|
Return After Taxes on Distributions and Sale of Fund Shares |
- |
|
|
Standard & Poor's 500 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 500 Index Fund Investor Shares'
expense ratio would be 0.14%, or $1.40 per $1,000 of average net assets.
The average expense ratio for large-cap core funds in 2022 was 0.88%, or
$8.80 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 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 December 31, | ||||
For a Share Outstanding Throughout Each Period |
2022 |
2021 |
2020 |
2019 |
2018 |
Net Asset Value, Beginning of Period |
$439.86 |
$346.60 |
$298.16 |
$231.44 |
$246.82 |
Investment Operations |
|
|
|
|
|
Net Investment Income1 |
5.605 |
4.910 |
5.128 |
4.801 |
4.896 |
Net Realized and Unrealized Gain (Loss) on
Investments |
(85.733) |
93.389 |
48.323 |
67.211 |
(15.776) |
Total from Investment Operations |
(80.128) |
98.299 |
53.451 |
72.012 |
(10.880) |
Distributions |
|
|
|
|
|
Dividends from Net Investment Income |
(5.562) |
(5.039) |
(5.011) |
(5.292) |
(4.500) |
Distributions from Realized Capital Gains |
— |
— |
— |
— |
— |
Total Distributions |
(5.562) |
(5.039) |
(5.011) |
(5.292) |
(4.500) |
Net Asset Value, End of Period |
$354.17 |
$439.86 |
$346.60 |
$298.16 |
$231.44 |
Total Return2 |
-18.23% |
28.53% |
18.25% |
31.33% |
-4.52% |
Ratios/Supplemental Data |
|
|
|
|
|
Net Assets, End of Period (Millions) |
$3,093 |
$4,512 |
$4,504 |
$4,723 |
$23,162 |
Ratio of Total Expenses to Average Net Assets |
0.14%3 |
0.14% |
0.14% |
0.14% |
0.14% |
Ratio of Net Investment Income to Average Net
Assets |
1.47% |
1.25% |
1.73% |
1.82% |
1.95% |
Portfolio Turnover Rate4 |
2% |
2% |
4% |
4% |
4% |
|
|
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 0.14%. |
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. |
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 | |
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 500 Index Fund | ||||
Investor Shares |
8/31/1976 |
500 |
40 |
922908108 |
| |
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 500 Index Fund Admiral Shares |
|
|
|
Return Before Taxes |
- |
|
|
Return After Taxes on Distributions |
- |
|
|
Return After Taxes on Distributions and Sale of Fund Shares |
- |
|
|
Standard & Poor's 500 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 500 Index Fund Admiral Shares'
expense ratio would be 0.04%, or $0.40 per $1,000 of average net assets.
The average expense ratio for large-cap core funds in 2022 was 0.88%, or
$8.80 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 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 December 31, | ||||
For a Share Outstanding Throughout Each Period |
2022 |
2021 |
2020 |
2019 |
2018 |
Net Asset Value, Beginning of Period |
$439.83 |
$346.57 |
$298.14 |
$231.44 |
$246.82 |
Investment Operations |
|
|
|
|
|
Net Investment Income1 |
6.000 |
5.326 |
5.427 |
5.319 |
5.181 |
Net Realized and Unrealized Gain (Loss) on
Investments |
(85.767) |
93.371 |
48.314 |
66.962 |
(15.808) |
Total from Investment Operations |
(79.767) |
98.697 |
53.741 |
72.281 |
(10.627) |
Distributions |
|
|
|
|
|
Dividends from Net Investment Income |
(5.953) |
(5.437) |
(5.311) |
(5.581) |
(4.753) |
Distributions from Realized Capital Gains |
— |
— |
— |
— |
— |
Total Distributions |
(5.953) |
(5.437) |
(5.311) |
(5.581) |
(4.753) |
Net Asset Value, End of Period |
$354.11 |
$439.83 |
$346.57 |
$298.14 |
$231.44 |
Total Return2 |
-18.15% |
28.66% |
18.37% |
31.46% |
-4.43% |
Ratios/Supplemental Data |
|
|
|
|
|
Net Assets, End of Period (Millions) |
$367,498 |
$453,239 |
$359,553 |
$319,624 |
$230,375 |
Ratio of Total Expenses to Average Net Assets |
0.04%3 |
0.04% |
0.04% |
0.04% |
0.04% |
Ratio of Net Investment Income to Average Net
Assets |
1.58% |
1.35% |
1.83% |
1.97% |
2.05% |
Portfolio Turnover Rate4 |
2% |
2% |
4% |
4% |
4% |
|
|
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 0.04%. |
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. |
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 | |
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 500 Index Fund | ||||
Admiral Shares |
11/13/2000 |
500Adml |
540 |
922908710 |
| |
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 500 Index Fund Institutional
Select Shares |
|
|
|
|
Return Before Taxes |
- |
|
|
|
Return After Taxes on Distributions |
- |
|
|
|
Return After Taxes on Distributions and Sale of
Fund Shares |
- |
|
|
|
Standard & Poor's 500 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 500 Index Fund Institutional
Select Shares’ expense ratio would be 0.01%, or $0.10 per $1,000 of
average net assets. The average expense ratio for large-cap core funds in
2022 was 0.88%, or $8.80 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 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 investing through a tax-advantaged account (such as a
401(k) 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 December 31, | ||||
For a Share Outstanding Throughout Each Period |
2022 |
2021 |
2020 |
2019 |
2018 |
Net Asset Value, Beginning of Period |
$233.06 |
$183.64 |
$157.98 |
$122.64 |
$130.79 |
Investment Operations |
|
|
|
|
|
Net Investment Income1 |
3.249 |
2.885 |
2.924 |
2.857 |
2.808 |
Net Realized and Unrealized Gain (Loss) on
Investments |
(45.458) |
49.478 |
25.597 |
35.484 |
(8.400) |
Total from Investment Operations |
(42.209) |
52.363 |
28.521 |
38.341 |
(5.592) |
Distributions |
|
|
|
|
|
Dividends from Net Investment Income |
(3.191) |
(2.943) |
(2.861) |
(3.001) |
(2.558) |
Distributions from Realized Capital Gains |
— |
— |
— |
— |
— |
Total Distributions |
(3.191) |
(2.943) |
(2.861) |
(3.001) |
(2.558) |
Net Asset Value, End of Period |
$187.66 |
$233.06 |
$183.64 |
$157.98 |
$122.64 |
Total Return |
-18.13% |
28.70% |
18.40% |
31.49% |
-4.40% |
Ratios/Supplemental Data |
|
|
|
|
|
Net Assets, End of Period (Millions) |
$111,968 |
$118,481 |
$94,870 |
$81,230 |
$56,531 |
Ratio of Total Expenses to Average Net Assets |
0.01%2 |
0.01% |
0.01% |
0.01% |
0.01% |
Ratio of Net Investment Income to Average Net
Assets |
1.62% |
1.38% |
1.86% |
2.00% |
2.08% |
Portfolio Turnover Rate3 |
2% |
2% |
4% |
4% |
4% |
|
|
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 0.01%. |
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. |
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 | |
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 500 Index Fund | ||||
Institutional Select
Shares |
6/24/2016
(Investor Shares
8/31/1976) |
Van500IxInstSel |
1940 |
922908348 |
| |
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 500 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 |
- |
|
|
Standard & Poor's 500 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 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 500 Index Fund ETF Shares’ expense ratio
would be 0.03%, or $0.30 per $1,000 of average net assets. The average
expense ratio for large-cap core funds in 2022 was 0.88%, or $8.80 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. |
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 500 Index Fund | |||
ETF Shares |
9/7/2010
(Investor Shares
8/31/1976) |
968 |
922908363 |
|
Year Ended December 31, | ||||
For a Share Outstanding Throughout Each Period |
2022 |
2021 |
2020 |
2019 |
2018 |
Net Asset Value, Beginning of Period |
$436.47 |
$343.93 |
$295.87 |
$229.68 |
$244.94 |
Investment Operations |
|
|
|
|
|
Net Investment Income1 |
6.012 |
5.353 |
5.413 |
5.298 |
5.196 |
Net Realized and Unrealized Gain (Loss) on
Investments |
(85.125) |
92.624 |
47.950 |
66.463 |
(15.719) |
Total from Investment Operations |
(79.113) |
97.977 |
53.363 |
71.761 |
(10.523) |
Distributions |
|
|
|
|
|
Dividends from Net Investment Income |
(5.947) |
(5.437) |
(5.303) |
(5.571) |
(4.737) |
Distributions from Realized Capital Gains |
— |
— |
— |
— |
— |
Total Distributions |
(5.947) |
(5.437) |
(5.303) |
(5.571) |
(4.737) |
Net Asset Value, End of Period |
$351.41 |
$436.47 |
$343.93 |
$295.87 |
$229.68 |
Total Return |
-18.15% |
28.66% |
18.35% |
31.46% |
-4.42% |
Ratios/Supplemental Data |
|
|
|
|
|
Net Assets, End of Period (Millions) |
$262,211 |
$279,850 |
$177,991 |
$130,728 |
$90,639 |
Ratio of Total Expenses to Average Net Assets |
0.03%2 |
0.03% |
0.03% |
0.03% |
0.03% |
Ratio of Net Investment Income to Average Net
Assets |
1.60% |
1.36% |
1.83% |
1.98% |
2.06% |
Portfolio Turnover Rate3 |
2% |
2% |
4% |
4% |
4% |
|
|
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 0.03%. |
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. |
| |
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 Extended Market Index Fund
Institutional Select Shares |
|
|
|
|
Return Before Taxes |
- |
|
|
|
Return After Taxes on Distributions |
- |
|
|
|
Return After Taxes on Distributions and Sale of
Fund Shares |
- |
|
|
|
Standard & Poor's Completion 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 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. |
Plain Talk About Buying a Dividend |
Unless you are 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 December 31, | ||||
For a Share Outstanding Throughout Each Period |
2022 |
2021 |
2020 |
2019 |
2018 |
Net Asset Value, Beginning of Period |
$222.86 |
$200.45 |
$153.63 |
$121.63 |
$136.19 |
Investment Operations |
|
|
|
|
|
Net Investment Income1 |
2.421 |
2.352 |
1.855 |
2.059 |
2.184 |
Net Realized and Unrealized Gain (Loss) on
Investments |
(61.319) |
22.661 |
47.179 |
31.999 |
(14.655) |
Total from Investment Operations |
(58.898) |
25.013 |
49.034 |
34.058 |
(12.471) |
Distributions |
|
|
|
|
|
Dividends from Net Investment Income |
(1.922) |
(2.603) |
(2.214) |
(2.058) |
(2.089) |
Distributions from Realized Capital Gains |
— |
— |
— |
— |
— |
Total Distributions |
(1.922) |
(2.603) |
(2.214) |
(2.058) |
(2.089) |
Net Asset Value, End of Period |
$162.04 |
$222.86 |
$200.45 |
$153.63 |
$121.63 |
Total Return |
-26.44% |
12.50% |
32.27% |
28.09% |
-9.32% |
Ratios/Supplemental Data |
|
|
|
|
|
Net Assets, End of Period (Millions) |
$22,239 |
$26,240 |
$24,472 |
$19,166 |
$13,390 |
Ratio of Total Expenses to Average Net Assets |
0.02%2 |
0.02% |
0.02% |
0.02% |
0.02% |
Ratio of Net Investment Income to Average Net
Assets |
1.36% |
1.05% |
1.22% |
1.44% |
1.55% |
Portfolio Turnover Rate3 |
11% |
19% |
19% |
13% |
10% |
|
|
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 0.02%. |
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. |
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 | |
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 Extended Market Index Fund | ||||
Institutional Select
Shares |
6/27/2016
(Institutional Shares
7/7/1997) |
VanExMtIxInsSel |
1898 |
922908322 |
| |
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 Total Stock Market Index Fund Investor Shares |
|
|
|
Return Before Taxes |
- |
|
|
Return After Taxes on Distributions |
- |
|
|
Return After Taxes on Distributions and Sale of Fund Shares |
- |
|
|
Spliced Total Stock Market Index
(reflects no deduction for fees, expenses, or taxes) |
- |
|
|
CRSP US Total Market 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 |
|
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 Large-Cap Index Fund Investor Shares |
|
|
|
Return Before Taxes |
- |
|
|
Return After Taxes on Distributions |
- |
|
|
Return After Taxes on Distributions and Sale of Fund Shares |
- |
|
|
Spliced Large Cap Index
(reflects no deduction for fees, expenses, or taxes) |
- |
|
|
CRSP US Large Cap 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 |
|
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 Value Index Fund Investor Shares |
|
|
|
Return Before Taxes |
- |
|
|
Return After Taxes on Distributions |
- |
|
|
Return After Taxes on Distributions and Sale of Fund Shares |
- |
|
|
Spliced Value Index
(reflects no deduction for fees, expenses, or taxes) |
- |
|
|
CRSP US Large Cap 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 |
|
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 Growth Index Fund Investor Shares |
|
|
|
Return Before Taxes |
- |
|
|
Return After Taxes on Distributions |
- |
|
|
Return After Taxes on Distributions and Sale of Fund Shares |
- |
|
|
Spliced Growth Index
(reflects no deduction for fees, expenses, or taxes) |
- |
|
|
CRSP US Large Cap 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 Total Stock Market Index Fund |
$110 billion |
Vanguard Large-Cap Index Fund |
147 billion |
Vanguard Value Index Fund |
123 billion |
Vanguard Growth Index Fund |
193 billion |
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 December 31, | ||||
For a Share Outstanding Throughout Each Period |
2022 |
2021 |
2020 |
2019 |
2018 |
Net Asset Value, Beginning of Period |
$117.53 |
$94.71 |
$79.66 |
$62.08 |
$66.70 |
Investment Operations |
|
|
|
|
|
Net Investment Income1 |
1.335 |
1.284 |
1.284 |
1.279 |
1.275 |
Capital Gain Distributions Received |
.0001,2 |
.0001,2 |
— |
— |
— |
Net Realized and Unrealized Gain (Loss) on
Investments |
(24.344) |
22.837 |
15.026 |
17.634 |
(4.703) |
Total from Investment Operations |
(23.009) |
24.121 |
16.310 |
18.913 |
(3.428) |
Distributions |
|
|
|
|
|
Dividends from Net Investment Income |
(1.431) |
(1.301) |
(1.260) |
(1.333) |
(1.192) |
Distributions from Realized Capital Gains |
— |
— |
— |
— |
— |
Total Distributions |
(1.431) |
(1.301) |
(1.260) |
(1.333) |
(1.192) |
Net Asset Value, End of Period |
$93.09 |
$117.53 |
$94.71 |
$79.66 |
$62.08 |
Total Return3 |
-19.60% |
25.59% |
20.87% |
30.65% |
-5.26% |
Ratios/Supplemental Data |
|
|
|
|
|
Net Assets, End of Period (Millions) |
$18,409 |
$133,977 |
$153,845 |
$139,686 |
$121,266 |
Ratio of Total Expenses to Average Net Assets |
0.14%4 |
0.14% |
0.14% |
0.14% |
0.14% |
Ratio of Net Investment Income to Average Net
Assets |
1.28% |
1.20% |
1.62% |
1.78% |
1.86% |
Portfolio Turnover Rate5 |
3% |
4% |
8% |
4% |
3% |
|
|
1 |
Calculated based on average shares outstanding. |
2 |
Distribution was less than $.001 per share. |
3 |
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. |
4 |
The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements
was 0.14%. |
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 December 31, | ||||
For a Share Outstanding Throughout Each Period |
2022 |
2021 |
2020 |
2019 |
2018 |
Net Asset Value, Beginning of Period |
$89.03 |
$71.00 |
$59.72 |
$46.36 |
$49.48 |
Investment Operations |
|
|
|
|
|
Net Investment Income1 |
1.058 |
.956 |
.969 |
.918 |
.966 |
Net Realized and Unrealized Gain (Loss) on Investments |
(18.646) |
18.025 |
11.268 |
13.466 |
(3.184) |
Total from Investment Operations |
(17.588) |
18.981 |
12.237 |
14.384 |
(2.218) |
Distributions |
|
|
|
|
|
Dividends from Net Investment Income |
(1.062) |
(.951) |
(.957) |
(1.024) |
(.902) |
Distributions from Realized Capital Gains |
— |
— |
— |
— |
— |
Total Distributions |
(1.062) |
(.951) |
(.957) |
(1.024) |
(.902) |
Net Asset Value, End of Period |
$70.38 |
$89.03 |
$71.00 |
$59.72 |
$46.36 |
Total Return2 |
-19.78% |
26.87% |
20.89% |
31.23% |
-4.59% |
Ratios/Supplemental Data |
|
|
|
|
|
Net Assets, End of Period (Millions) |
$17 |
$36 |
$37 |
$30 |
$344 |
Ratio of Total Expenses to Average Net Assets |
0.17%3 |
0.17% |
0.17% |
0.17% |
0.17% |
Ratio of Net Investment Income to Average Net Assets |
1.38% |
1.19% |
1.61% |
1.75% |
1.91% |
Portfolio Turnover Rate4 |
3% |
4% |
3% |
5% |
4% |
|
|
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 0.17%. |
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 December 31, | ||||
For a Share Outstanding Throughout Each Period |
2022 |
2021 |
2020 |
2019 |
2018 |
Net Asset Value, Beginning of Period |
$57.39 |
$46.43 |
$46.78 |
$38.18 |
$41.42 |
Investment Operations |
|
|
|
|
|
Net Investment Income1 |
1.301 |
1.177 |
1.142 |
1.093 |
1.009 |
Net Realized and Unrealized Gain (Loss) on Investments |
(2.604) |
10.945 |
(.362) |
8.623 |
(3.261) |
Total from Investment Operations |
(1.303) |
12.122 |
.780 |
9.716 |
(2.252) |
Distributions |
|
|
|
|
|
Dividends from Net Investment Income |
(1.307) |
(1.162) |
(1.130) |
(1.116) |
(.988) |
Distributions from Realized Capital Gains |
— |
— |
— |
— |
— |
Total Distributions |
(1.307) |
(1.162) |
(1.130) |
(1.116) |
(.988) |
Net Asset Value, End of Period |
$54.78 |
$57.39 |
$46.43 |
$46.78 |
$38.18 |
Total Return2 |
-2.18% |
26.31% |
2.18% |
25.67% |
-5.55% |
Ratios/Supplemental Data |
|
|
|
|
|
Net Assets, End of Period (Millions) |
$233 |
$264 |
$273 |
$328 |
$1,381 |
Ratio of Total Expenses to Average Net Assets |
0.17%3 |
0.17% |
0.17% |
0.17% |
0.17% |
Ratio of Net Investment Income to Average Net Assets |
2.38% |
2.22% |
2.75% |
2.58% |
2.43% |
Portfolio Turnover Rate4 |
5% |
9% |
10% |
12% |
8% |
|
|
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 0.17%. |
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 December 31, | ||||
For a Share Outstanding Throughout Each Period |
2022 |
2021 |
2020 |
2019 |
2018 |
Net Asset Value, Beginning of Period |
$165.20 |
$130.50 |
$93.87 |
$69.10 |
$72.36 |
Investment Operations |
|
|
|
|
|
Net Investment Income1 |
.638 |
.565 |
.728 |
.746 |
.823 |
Net Realized and Unrealized Gain (Loss) on
Investments |
(55.480) |
34.731 |
36.631 |
24.802 |
(3.271) |
Total from Investment Operations |
(54.842) |
35.296 |
37.359 |
25.548 |
(2.448) |
Distributions |
|
|
|
|
|
Dividends from Net Investment Income |
(.598) |
(.596) |
(.729) |
(.778) |
(.812) |
Distributions from Realized Capital Gains |
— |
— |
— |
— |
— |
Total Distributions |
(.598) |
(.596) |
(.729) |
(.778) |
(.812) |
Net Asset Value, End of Period |
$109.76 |
$165.20 |
$130.50 |
$93.87 |
$69.10 |
Total Return2 |
-33.22% |
27.10% |
40.01% |
37.08% |
-3.46% |
Ratios/Supplemental Data |
|
|
|
|
|
Net Assets, End of Period (Millions) |
$345 |
$692 |
$750 |
$572 |
$2,654 |
Ratio of Total Expenses to Average Net Assets |
0.17%3 |
0.17% |
0.17% |
0.17% |
0.17% |
Ratio of Net Investment Income to Average Net Assets |
0.50% |
0.39% |
0.69% |
0.92% |
1.08% |
Portfolio Turnover Rate4 |
5% |
8% |
6% |
11% |
11% |
|
|
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 0.17%. |
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. |
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 | |
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companies |
|
Inception
Date |
Newspaper
Abbreviation |
Vanguard
Fund Number |
CUSIP
Number |
Vanguard Total Stock Market Index Fund | ||||
Investor Shares |
4/27/1992 |
TotSt |
85 |
922908306 |
Vanguard Large-Cap Index Fund | ||||
Investor Shares |
1/30/2004 |
LarCapIx |
307 |
922908587 |
Vanguard Value Index Fund | ||||
Investor Shares |
11/2/1992 |
Value |
06 |
922908405 |
Vanguard Growth Index Fund |
|
|
|
|
Investor Shares |
11/2/1992 |
Growth |
09 |
922908504 |
|
|
|
|
|
| |
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 Total Stock Market Index Fund Admiral Shares |
|
|
|
Return Before Taxes |
- |
|
|
Return After Taxes on Distributions |
- |
|
|
Return After Taxes on Distributions and Sale of Fund Shares |
- |
|
|
Spliced Total Stock Market Index
(reflects no deduction for fees, expenses, or taxes) |
- |
|
|
CRSP US Total Market 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 |
|
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 Large-Cap Index Fund Admiral Shares |
|
|
|
Return Before Taxes |
- |
|
|
Return After Taxes on Distributions |
- |
|
|
Return After Taxes on Distributions and Sale of Fund Shares |
- |
|
|
Spliced Large Cap Index
(reflects no deduction for fees, expenses, or taxes) |
- |
|
|
CRSP US Large Cap 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 |
|
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 Value Index Fund Admiral Shares |
|
|
|
Return Before Taxes |
- |
|
|
Return After Taxes on Distributions |
- |
|
|
Return After Taxes on Distributions and Sale of Fund Shares |
- |
|
|
Spliced Value Index
(reflects no deduction for fees, expenses, or taxes) |
- |
|
|
CRSP US Large Cap 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 |
|
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 Growth Index Fund Admiral Shares |
|
|
|
Return Before Taxes |
- |
|
|
Return After Taxes on Distributions |
- |
|
|
Return After Taxes on Distributions and Sale of Fund Shares |
- |
|
|
Spliced Growth Index
(reflects no deduction for fees, expenses, or taxes) |
- |
|
|
CRSP US Large Cap 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 Total Stock Market Index Fund |
$110 billion |
Vanguard Large-Cap Index Fund |
147 billion |
Vanguard Value Index Fund |
123 billion |
Vanguard Growth Index Fund |
193 billion |
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 December 31, | ||||
For a Share Outstanding Throughout Each Period |
2022 |
2021 |
2020 |
2019 |
2018 |
Net Asset Value, Beginning of Period |
$117.56 |
$94.74 |
$79.69 |
$62.09 |
$66.72 |
Investment Operations |
|
|
|
|
|
Net Investment Income1 |
1.540 |
1.402 |
1.364 |
1.360 |
1.344 |
Capital Gain Distributions Received |
.0001,2 |
.0001,2 |
— |
— |
— |
Net Realized and Unrealized Gain (Loss) on
Investments |
(24.460) |
22.833 |
15.025 |
17.646 |
(4.711) |
Total from Investment Operations |
(22.920) |
24.235 |
16.389 |
19.006 |
(3.367) |
Distributions |
|
|
|
|
|
Dividends from Net Investment Income |
(1.540) |
(1.415) |
(1.339) |
(1.406) |
(1.263) |
Distributions from Realized Capital Gains |
— |
— |
— |
— |
— |
Total Distributions |
(1.540) |
(1.415) |
(1.339) |
(1.406) |
(1.263) |
Net Asset Value, End of Period |
$93.10 |
$117.56 |
$94.74 |
$79.69 |
$62.09 |
Total Return3 |
-19.53% |
25.71% |
20.99% |
30.80% |
-5.17% |
Ratios/Supplemental Data |
|
|
|
|
|
Net Assets, End of Period (Millions) |
$274,489 |
$341,733 |
$273,622 |
$252,536 |
$185,102 |
Ratio of Total Expenses to Average Net Assets |
0.04%4 |
0.04% |
0.04% |
0.04% |
0.04% |
Ratio of Net Investment Income to Average Net
Assets |
1.54% |
1.30% |
1.72% |
1.88% |
1.96% |
Portfolio Turnover Rate5 |
3% |
4% |
8% |
4% |
3% |
|
|
1 |
Calculated based on average shares outstanding. |
2 |
Distribution was less than $.001 per share. |
3 |
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. |
4 |
The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements
was 0.04%. |
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 December 31, | ||||
For a Share Outstanding Throughout Each Period |
2022 |
2021 |
2020 |
2019 |
2018 |
Net Asset Value, Beginning of Period |
$111.33 |
$88.79 |
$74.69 |
$57.96 |
$61.86 |
Investment Operations |
|
|
|
|
|
Net Investment Income1 |
1.456 |
1.325 |
1.303 |
1.299 |
1.288 |
Net Realized and Unrealized Gain (Loss) on Investments |
(23.348) |
22.530 |
14.084 |
16.774 |
(3.983) |
Total from Investment Operations |
(21.892) |
23.855 |
15.387 |
18.073 |
(2.695) |
Distributions |
|
|
|
|
|
Dividends from Net Investment Income |
(1.458) |
(1.315) |
(1.287) |
(1.343) |
(1.205) |
Distributions from Realized Capital Gains |
— |
— |
— |
— |
— |
Total Distributions |
(1.458) |
(1.315) |
(1.287) |
(1.343) |
(1.205) |
Net Asset Value, End of Period |
$87.98 |
$111.33 |
$88.79 |
$74.69 |
$57.96 |
Total Return2 |
-19.70% |
27.01% |
21.03% |
31.39% |
-4.47% |
Ratios/Supplemental Data |
|
|
|
|
|
Net Assets, End of Period (Millions) |
$9,583 |
$11,847 |
$9,338 |
$7,546 |
$5,306 |
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 |
1.54% |
1.32% |
1.73% |
1.92% |
2.03% |
Portfolio Turnover Rate4 |
3% |
4% |
3% |
5% |
4% |
|
|
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 0.05%. |
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 December 31, | ||||
For a Share Outstanding Throughout Each Period |
2022 |
2021 |
2020 |
2019 |
2018 |
Net Asset Value, Beginning of Period |
$57.38 |
$46.41 |
$46.77 |
$38.17 |
$41.41 |
Investment Operations |
|
|
|
|
|
Net Investment Income1 |
1.370 |
1.245 |
1.188 |
1.185 |
1.059 |
Net Realized and Unrealized Gain (Loss) on Investments |
(2.618) |
10.951 |
(.367) |
8.581 |
(3.261) |
Total from Investment Operations |
(1.248) |
12.196 |
.821 |
9.766 |
(2.202) |
Distributions |
|
|
|
|
|
Dividends from Net Investment Income |
(1.372) |
(1.226) |
(1.181) |
(1.166) |
(1.038) |
Distributions from Realized Capital Gains |
— |
— |
— |
— |
— |
Total Distributions |
(1.372) |
(1.226) |
(1.181) |
(1.166) |
(1.038) |
Net Asset Value, End of Period |
$54.76 |
$57.38 |
$46.41 |
$46.77 |
$38.17 |
Total Return2 |
-2.08% |
26.49% |
2.29% |
25.82% |
-5.43% |
Ratios/Supplemental Data |
|
|
|
|
|
Net Assets, End of Period (Millions) |
$32,071 |
$31,741 |
$22,486 |
$22,414 |
$16,522 |
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 |
2.51% |
2.34% |
2.86% |
2.75% |
2.55% |
Portfolio Turnover Rate4 |
5% |
9% |
10% |
12% |
8% |
|
|
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 0.05%. |
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 December 31, | ||||
For a Share Outstanding Throughout Each Period |
2022 |
2021 |
2020 |
2019 |
2018 |
Net Asset Value, Beginning of Period |
$165.15 |
$130.46 |
$93.84 |
$69.09 |
$72.35 |
Investment Operations |
|
|
|
|
|
Net Investment Income1 |
.799 |
.748 |
.855 |
.907 |
.921 |
Net Realized and Unrealized Gain (Loss) on
Investments |
(55.471) |
34.720 |
36.621 |
24.728 |
(3.274) |
Total from Investment Operations |
(54.672) |
35.468 |
37.476 |
25.635 |
(2.353) |
Distributions |
|
|
|
|
|
Dividends from Net Investment Income |
(.758) |
(.778) |
(.856) |
(.885) |
(.907) |
Distributions from Realized Capital Gains |
— |
— |
— |
— |
— |
Total Distributions |
(.758) |
(.778) |
(.856) |
(.885) |
(.907) |
Net Asset Value, End of Period |
$109.72 |
$165.15 |
$130.46 |
$93.84 |
$69.09 |
Total Return2 |
-33.14% |
27.26% |
40.19% |
37.23% |
-3.34% |
Ratios/Supplemental Data |
|
|
|
|
|
Net Assets, End of Period (Millions) |
$45,295 |
$68,372 |
$53,928 |
$38,103 |
$25,609 |
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 |
0.63% |
0.51% |
0.80% |
1.08% |
1.20% |
Portfolio Turnover Rate4 |
5% |
8% |
6% |
11% |
11% |
|
|
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 0.05%. |
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. |
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 | |
Investor Information 800-662-7447
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companies |
Vanguard Funds |
Inception
Date |
Newspaper
Abbreviation |
Vanguard
Fund Number |
CUSIP
Number |
Vanguard Total Stock Market Index Fund | ||||
Admiral Shares |
11/13/2000 |
TotStAdml |
585 |
922908728 |
Vanguard Large-Cap Index Fund | ||||
Admiral Shares |
2/2/2004 |
LaCapAd |
5307 |
922908579 |
Vanguard Value Index Fund | ||||
Admiral Shares |
11/13/2000 |
ValAdml |
506 |
922908678 |
Vanguard Growth Index Fund |
|
|
|
|
Admiral Shares |
11/13/2000 |
GrwthAdml |
509 |
922908660 |
|
|
|
|
|
|
Institutional Shares |
Institutional Plus Shares |
Sales Charge (Load) Imposed on Purchases |
|
|
Purchase Fee |
|
|
Sales Charge (Load) Imposed on Reinvested
Dividends |
|
|
Redemption Fee |
|
|
|
Institutional Shares |
Institutional Plus Shares |
Management Fees |
|
|
12b-1 Distribution Fee |
|
|
Other Expenses |
|
|
Total Annual Fund Operating Expenses |
|
|
|
1 Year |
3 Years |
5 Years |
10 Years |
Institutional Shares |
$ |
$ |
$ |
$ |
Institutional Plus Shares |
$ |
$ |
$ |
$ |
|
Total Return |
Quarter |
|
|
|
|
- |
|
|
1 Year |
5 Years |
10 Years |
Vanguard Total Stock Market Index Fund
Institutional Shares |
|
|
|
Return Before Taxes |
- |
|
|
Return After Taxes on Distributions |
- |
|
|
Return After Taxes on Distributions and Sale of Fund Shares |
- |
|
|
Spliced Total Stock Market Index
(reflects no deduction for fees, expenses, or taxes) |
- |
|
|
CRSP US Total Market 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) |
- |
|
|
|
1 Year |
5 Years |
Since
Fund
Inception |
Fund
Inception
Date |
Vanguard Total Stock Market Index Fund
Institutional Plus Shares |
|
|
|
|
Return Before Taxes |
- |
|
|
|
CRSP US Total Market 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 Large-Cap Index Fund Institutional Shares |
|
|
|
Return Before Taxes |
- |
|
|
Return After Taxes on Distributions |
- |
|
|
Return After Taxes on Distributions and Sale of Fund Shares |
- |
|
|
Spliced Large Cap Index
(reflects no deduction for fees, expenses, or taxes) |
- |
|
|
CRSP US Large Cap 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 Value Index Fund Institutional Shares |
|
|
|
Return Before Taxes |
- |
|
|
Return After Taxes on Distributions |
- |
|
|
Return After Taxes on Distributions and Sale of Fund Shares |
- |
|
|
Spliced Value Index
(reflects no deduction for fees, expenses, or taxes) |
- |
|
|
CRSP US Large Cap 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 Growth Index Fund Institutional Shares |
|
|
|
Return Before Taxes |
- |
|
|
Return After Taxes on Distributions |
- |
|
|
Return After Taxes on Distributions and Sale of Fund Shares |
- |
|
|
Spliced Growth Index
(reflects no deduction for fees, expenses, or taxes) |
- |
|
|
CRSP US Large Cap 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 Total Stock Market Index Fund |
$110 billion |
Vanguard Large-Cap Index Fund |
147 billion |
Vanguard Value Index Fund |
123 billion |
Vanguard Growth Index Fund |
193 billion |
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 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. The portion of such dividends that is exempt from federal
income tax will be designated as “exempt-interest dividends.” 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 December 31, | ||||
For a Share Outstanding Throughout Each Period |
2022 |
2021 |
2020 |
2019 |
2018 |
Net Asset Value, Beginning of Period |
$117.58 |
$94.75 |
$79.70 |
$62.10 |
$66.73 |
Investment Operations |
|
|
|
|
|
Net Investment Income1 |
1.497 |
1.416 |
1.374 |
1.365 |
1.354 |
Capital Gain Distributions Received |
.0001,2 |
.0001,2 |
— |
— |
— |
Net Realized and Unrealized Gain (Loss) on
Investments |
(24.407) |
22.841 |
15.024 |
17.649 |
(4.715) |
Total from Investment Operations |
(22.910) |
24.257 |
16.398 |
19.014 |
(3.361) |
Distributions |
|
|
|
|
|
Dividends from Net Investment Income |
(1.550) |
(1.427) |
(1.348) |
(1.414) |
(1.269) |
Distributions from Realized Capital Gains |
— |
— |
— |
— |
— |
Total Distributions |
(1.550) |
(1.427) |
(1.348) |
(1.414) |
(1.269) |
Net Asset Value, End of Period |
$93.12 |
$117.58 |
$94.75 |
$79.70 |
$62.10 |
Total Return |
-19.51% |
25.73% |
21.00% |
30.81% |
-5.16% |
Ratios/Supplemental Data |
|
|
|
|
|
Net Assets, End of Period (Millions) |
$66,751 |
$249,282 |
$180,586 |
$152,716 |
$115,115 |
Ratio of Total Expenses to Average Net Assets |
0.03%3 |
0.03% |
0.03% |
0.03% |
0.03% |
Ratio of Net Investment Income to Average Net
Assets |
1.46% |
1.31% |
1.73% |
1.89% |
1.97% |
Portfolio Turnover Rate4 |
3% |
4% |
8% |
4% |
3% |
|
|
1 |
Calculated based on average shares outstanding. |
2 |
Distribution was less than $.001 per share. |
3 |
The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements
was 0.03%. |
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 December 31, | ||||
For a Share Outstanding Throughout Each Period |
2022 |
2021 |
2020 |
2019 |
2018 |
Net Asset Value, Beginning of Period |
$220.49 |
$177.69 |
$149.47 |
$116.46 |
$125.14 |
Investment Operations |
|
|
|
|
|
Net Investment Income1 |
2.960 |
2.672 |
2.591 |
2.575 |
2.555 |
Capital Gain Distributions Received |
.0001,2 |
.0001,2 |
— |
— |
— |
Net Realized and Unrealized Gain (Loss) on
Investments |
(45.906) |
42.823 |
28.172 |
33.100 |
(8.842) |
Total from Investment Operations |
(42.946) |
45.495 |
30.763 |
35.675 |
(6.287) |
Distributions |
|
|
|
|
|
Dividends from Net Investment Income |
(2.914) |
(2.695) |
(2.543) |
(2.665) |
(2.393) |
Distributions from Realized Capital Gains |
— |
— |
— |
— |
— |
Total Distributions |
(2.914) |
(2.695) |
(2.543) |
(2.665) |
(2.393) |
Net Asset Value, End of Period |
$174.63 |
$220.49 |
$177.69 |
$149.47 |
$116.46 |
Total Return |
-19.51% |
25.74% |
21.02% |
30.82% |
-5.15% |
Ratios/Supplemental Data |
|
|
|
|
|
Net Assets, End of Period (Millions) |
$488,093 |
$296,554 |
$226,288 |
$188,188 |
$135,641 |
Ratio of Total Expenses to Average Net Assets |
0.02%3 |
0.02% |
0.02% |
0.02% |
0.02% |
Ratio of Net Investment Income to Average Net
Assets |
1.59% |
1.32% |
1.74% |
1.90% |
1.98% |
Portfolio Turnover Rate4 |
3% |
4% |
8% |
4% |
3% |
|
|
1 |
Calculated based on average shares outstanding. |
2 |
Distribution was less than $.001 per share. |
3 |
The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements
was 0.02%. |
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 December 31, | ||||
For a Share Outstanding Throughout Each Period |
2022 |
2021 |
2020 |
2019 |
2018 |
Net Asset Value, Beginning of Period |
$458.22 |
$365.43 |
$307.39 |
$238.57 |
$254.60 |
Investment Operations |
|
|
|
|
|
Net Investment Income1 |
6.032 |
5.477 |
5.389 |
5.363 |
5.345 |
Net Realized and Unrealized Gain (Loss) on
Investments |
(96.092) |
92.764 |
57.981 |
69.016 |
(16.390) |
Total from Investment Operations |
(90.060) |
98.241 |
63.370 |
74.379 |
(11.045) |
Distributions |
|
|
|
|
|
Dividends from Net Investment Income |
(6.040) |
(5.451) |
(5.330) |
(5.559) |
(4.985) |
Distributions from Realized Capital Gains |
— |
— |
— |
— |
— |
Total Distributions |
(6.040) |
(5.451) |
(5.330) |
(5.559) |
(4.985) |
Net Asset Value, End of Period |
$362.12 |
$458.22 |
$365.43 |
$307.39 |
$238.57 |
Total Return |
-19.69% |
27.03% |
21.05% |
31.39% |
-4.46% |
Ratios/Supplemental Data |
|
|
|
|
|
Net Assets, End of Period (Millions) |
$2,071 |
$2,524 |
$2,149 |
$1,796 |
$1,178 |
Ratio of Total Expenses to Average Net Assets |
0.04%2 |
0.04% |
0.04% |
0.04% |
0.04% |
Ratio of Net Investment Income to Average Net
Assets |
1.55% |
1.32% |
1.74% |
1.92% |
2.04% |
Portfolio Turnover Rate3 |
3% |
4% |
3% |
5% |
4% |
|
|
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 December 31, | ||||
For a Share Outstanding Throughout Each Period |
2022 |
2021 |
2020 |
2019 |
2018 |
Net Asset Value, Beginning of Period |
$57.37 |
$46.41 |
$46.77 |
$38.17 |
$41.41 |
Investment Operations |
|
|
|
|
|
Net Investment Income1 |
1.377 |
1.250 |
1.193 |
1.189 |
1.063 |
Net Realized and Unrealized Gain (Loss) on Investments |
(2.609) |
10.941 |
(.368) |
8.581 |
(3.260) |
Total from Investment Operations |
(1.232) |
12.191 |
.825 |
9.770 |
(2.197) |
Distributions |
|
|
|
|
|
Dividends from Net Investment Income |
(1.378) |
(1.231) |
(1.185) |
(1.170) |
(1.043) |
Distributions from Realized Capital Gains |
— |
— |
— |
— |
— |
Total Distributions |
(1.378) |
(1.231) |
(1.185) |
(1.170) |
(1.043) |
Net Asset Value, End of Period |
$54.76 |
$57.37 |
$46.41 |
$46.77 |
$38.17 |
Total Return |
-2.05% |
26.48% |
2.30% |
25.83% |
-5.42% |
Ratios/Supplemental Data |
|
|
|
|
|
Net Assets, End of Period (Millions) |
$16,452 |
$15,446 |
$12,579 |
$12,481 |
$9,789 |
Ratio of Total Expenses to Average Net Assets |
0.04%2 |
0.04% |
0.04% |
0.04% |
0.04% |
Ratio of Net Investment Income to Average Net Assets |
2.52% |
2.35% |
2.87% |
2.76% |
2.56% |
Portfolio Turnover Rate3 |
5% |
9% |
10% |
12% |
8% |
|
|
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 December 31, | ||||
For a Share Outstanding Throughout Each Period |
2022 |
2021 |
2020 |
2019 |
2018 |
Net Asset Value, Beginning of Period |
$165.16 |
$130.47 |
$93.85 |
$69.09 |
$72.35 |
Investment Operations |
|
|
|
|
|
Net Investment Income1 |
.812 |
.762 |
.867 |
.912 |
.928 |
Net Realized and Unrealized Gain (Loss) on
Investments |
(55.481) |
34.721 |
36.620 |
24.742 |
(3.274) |
Total from Investment Operations |
(54.669) |
35.483 |
37.487 |
25.654 |
(2.346) |
Distributions |
|
|
|
|
|
Dividends from Net Investment Income |
(.771) |
(.793) |
(.867) |
(.894) |
(.914) |
Distributions from Realized Capital Gains |
— |
— |
— |
— |
— |
Total Distributions |
(.771) |
(.793) |
(.867) |
(.894) |
(.914) |
Net Asset Value, End of Period |
$109.72 |
$165.16 |
$130.47 |
$93.85 |
$69.09 |
Total Return |
-33.14% |
27.27% |
40.20% |
37.26% |
-3.33% |
Ratios/Supplemental Data |
|
|
|
|
|
Net Assets, End of Period (Millions) |
$18,465 |
$27,688 |
$22,582 |
$16,426 |
$12,400 |
Ratio of Total Expenses to Average Net Assets |
0.04%2 |
0.04% |
0.04% |
0.04% |
0.04% |
Ratio of Net Investment Income to Average Net Assets |
0.64% |
0.52% |
0.82% |
1.09% |
1.21% |
Portfolio Turnover Rate3 |
5% |
8% |
6% |
11% |
11% |
|
|
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. |
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 | |
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 Funds |
Inception
Date |
Newspaper
Abbreviation |
Vanguard
Fund Number |
CUSIP
Number |
Vanguard Total Stock Market Index Fund | ||||
Institutional Shares |
7/7/1997 |
TotStInst |
855 |
922908801 |
Institutional Plus
Shares |
4/28/2015 |
TTLstkMKTinstpls |
1871 |
922908355 |
Vanguard Large-Cap Index Fund | ||||
Institutional Shares |
6/30/2005
(Investor Shares
1/30/2004) |
LaCapInt |
807 |
922908561 |
Vanguard Value Index Fund | ||||
Institutional Shares |
7/2/1998
(Investor Shares
11/2/1992) |
ValueInst |
867 |
922908850 |
Vanguard Growth
Index Fund |
|
|
|
|
Institutional Shares |
5/14/1998
(Investor Shares
11/2/1992) |
GrwthInst |
868 |
922908868 |
| |
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 Extended Market Index Fund Investor Shares |
|
|
|
Return Before Taxes |
- |
|
|
Return After Taxes on Distributions |
- |
|
|
Return After Taxes on Distributions and Sale of Fund Shares |
- |
|
|
Standard & Poor's Completion 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 |
|
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 Mid-Cap Index Fund Investor Shares |
|
|
|
Return Before Taxes |
- |
|
|
Return After Taxes on Distributions |
- |
|
|
Return After Taxes on Distributions and Sale of Fund Shares |
- |
|
|
Spliced Mid Cap Index
(reflects no deduction for fees, expenses, or taxes) |
- |
|
|
CRSP US Mid Cap 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 |
|
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 Mid-Cap Value Index Fund Investor Shares |
|
|
|
Return Before Taxes |
- |
|
|
Return After Taxes on Distributions |
- |
|
|
Return After Taxes on Distributions and Sale of Fund Shares |
- |
|
|
Spliced Mid Cap Value Index
(reflects no deduction for fees, expenses, or taxes) |
- |
|
|
CRSP US Mid Cap 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 |
|
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 Mid-Cap Growth Index Fund Investor Shares |
|
|
|
Return Before Taxes |
- |
|
|
Return After Taxes on Distributions |
- |
|
|
Return After Taxes on Distributions and Sale of Fund Shares |
- |
|
|
Spliced Mid Cap Growth Index
(reflects no deduction for fees, expenses, or taxes) |
- |
|
|
CRSP US Mid Cap 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 Extended Market Index Fund |
$5.6 billion |
Vanguard Mid-Cap Index Fund |
23.2 billion |
Vanguard Mid-Cap Value Index Fund |
22.9 billion |
Vanguard Mid-Cap Growth Index Fund |
23.8 billion |
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 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. 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 December 31, | ||||
For a Share Outstanding Throughout Each Period |
2022 |
2021 |
2020 |
2019 |
2018 |
Net Asset Value, Beginning of Period |
$138.80 |
$124.83 |
$95.66 |
$75.74 |
$84.80 |
Investment Operations |
|
|
|
|
|
Net Investment Income1 |
1.280 |
1.216 |
.983 |
.962 |
1.193 |
Net Realized and Unrealized Gain (Loss) on
Investments |
(38.141) |
14.134 |
29.401 |
20.089 |
(9.104) |
Total from Investment Operations |
(36.861) |
15.350 |
30.384 |
21.051 |
(7.911) |
Distributions |
|
|
|
|
|
Dividends from Net Investment Income |
(1.009) |
(1.380) |
(1.214) |
(1.131) |
(1.149) |
Distributions from Realized Capital Gains |
— |
— |
— |
— |
— |
Total Distributions |
(1.009) |
(1.380) |
(1.214) |
(1.131) |
(1.149) |
Net Asset Value, End of Period |
$100.93 |
$138.80 |
$124.83 |
$95.66 |
$75.74 |
Total Return2 |
-26.56% |
12.31% |
32.04% |
27.87% |
-9.47% |
Ratios/Supplemental Data |
|
|
|
|
|
Net Assets, End of Period (Millions) |
$229 |
$399 |
$454 |
$455 |
$1,139 |
Ratio of Total Expenses to Average Net Assets |
0.19%3 |
0.19% |
0.19% |
0.19% |
0.19% |
Ratio of Net Investment Income to Average Net Assets |
1.14% |
0.87% |
1.04% |
1.09% |
1.38% |
Portfolio Turnover Rate4 |
11% |
19% |
19% |
13% |
10% |
|
|
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 0.19%. |
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 December 31, | ||||
For a Share Outstanding Throughout Each Period |
2022 |
2021 |
2020 |
2019 |
2018 |
Net Asset Value, Beginning of Period |
$69.54 |
$56.52 |
$48.64 |
$37.71 |
$42.23 |
Investment Operations |
|
|
|
|
|
Net Investment Income1 |
.807 |
.652 |
.698 |
.577 |
.640 |
Net Realized and Unrealized Gain (Loss) on Investments |
(13.875) |
13.065 |
7.937 |
11.018 |
(4.528) |
Total from Investment Operations |
(13.068) |
13.717 |
8.635 |
11.595 |
(3.888) |
Distributions |
|
|
|
|
|
Dividends from Net Investment Income |
(.812) |
(.697) |
(.755) |
(.665) |
(.632) |
Distributions from Realized Capital Gains |
— |
— |
— |
— |
— |
Total Distributions |
(.812) |
(.697) |
(.755) |
(.665) |
(.632) |
Net Asset Value, End of Period |
$55.66 |
$69.54 |
$56.52 |
$48.64 |
$37.71 |
Total Return2 |
-18.80% |
24.36% |
18.10% |
30.86% |
-9.34% |
Ratios/Supplemental Data |
|
|
|
|
|
Net Assets, End of Period (Millions) |
$476 |
$740 |
$834 |
$877 |
$3,043 |
Ratio of Total Expenses to Average Net Assets |
0.17%3 |
0.17% |
0.17% |
0.17% |
0.17% |
Ratio of Net Investment Income to Average Net Assets |
1.36% |
1.02% |
1.49% |
1.31% |
1.49% |
Portfolio Turnover Rate4 |
12% |
16% |
26% |
15% |
16% |
|
|
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 0.17%. |
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 December 31, | ||||
For a Share Outstanding Throughout Each Period |
2022 |
2021 |
2020 |
2019 |
2018 |
Net Asset Value, Beginning of Period |
$59.16 |
$46.83 |
$46.96 |
$37.50 |
$43.89 |
Investment Operations |
|
|
|
|
|
Net Investment Income1 |
1.129 |
1.006 |
1.0482 |
.808 |
1.0013 |
Net Realized and Unrealized Gain (Loss) on Investments |
(5.876) |
12.311 |
(.122) |
9.566 |
(6.415) |
Total from Investment Operations |
(4.747) |
13.317 |
.926 |
10.374 |
(5.414) |
Distributions |
|
|
|
|
|
Dividends from Net Investment Income |
(1.143) |
(.987) |
(1.056) |
(.914) |
(.976) |
Distributions from Realized Capital Gains |
— |
— |
— |
— |
— |
Total Distributions |
(1.143) |
(.987) |
(1.056) |
(.914) |
(.976) |
Net Asset Value, End of Period |
$53.27 |
$59.16 |
$46.83 |
$46.96 |
$37.50 |
Total Return4 |
-8.00% |
28.59% |
2.43% |
27.82% |
-12.53% |
Ratios/Supplemental Data |
|
|
|
|
|
Net Assets, End of Period (Millions) |
$45 |
$57 |
$43 |
$52 |
$508 |
Ratio of Total Expenses to Average Net Assets |
0.19%5 |
0.19% |
0.19% |
0.19% |
0.19% |
Ratio of Net Investment Income to Average Net Assets |
2.05% |
1.83% |
2.58%2 |
1.90% |
2.29%3 |
Portfolio Turnover Rate6 |
18% |
17% |
39% |
17% |
17% |
|
|
1 |
Calculated based on average shares outstanding. |
2 |
Net investment income per share and the ratio of net investment income to average net assets include $.142 and
0.35%, respectively, resulting from a special dividend from NortonLifeLock Inc. in February 2020. |
3 |
Net investment income per share and the ratio of net investment income to average net assets include $.111 and
0.26%, respectively, resulting from a special dividend from Dr Pepper Snapple Group Inc. in July 2018. |
4 |
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. |
5 |
The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements
was 0.19%. |
6 |
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 December 31, | ||||
For a Share Outstanding Throughout Each Period |
2022 |
2021 |
2020 |
2019 |
2018 |
Net Asset Value, Beginning of Period |
$100.07 |
$83.37 |
$62.43 |
$47.02 |
$50.21 |
Investment Operations |
|
|
|
|
|
Net Investment Income1 |
.444 |
.229 |
.340 |
.345 |
.333 |
Net Realized and Unrealized Gain (Loss) on Investments |
(29.381) |
16.697 |
20.984 |
15.485 |
(3.193) |
Total from Investment Operations |
(28.937) |
16.926 |
21.324 |
15.830 |
(2.860) |
Distributions |
|
|
|
|
|
Dividends from Net Investment Income |
(.453) |
(.226) |
(.384) |
(.420) |
(.330) |
Distributions from Realized Capital Gains |
— |
— |
— |
— |
— |
Total Distributions |
(.453) |
(.226) |
(.384) |
(.420) |
(.330) |
Net Asset Value, End of Period |
$70.68 |
$100.07 |
$83.37 |
$62.43 |
$47.02 |
Total Return2 |
-28.93% |
20.32% |
34.32% |
33.72% |
-5.74% |
Ratios/Supplemental Data |
|
|
|
|
|
Net Assets, End of Period (Millions) |
$46 |
$86 |
$81 |
$63 |
$405 |
Ratio of Total Expenses to Average Net Assets |
0.19%3 |
0.19% |
0.19% |
0.19% |
0.19% |
Ratio of Net Investment Income to Average Net Assets |
0.57% |
0.25% |
0.51% |
0.62% |
0.64% |
Portfolio Turnover Rate4 |
22% |
25% |
22% |
18% |
25% |
|
|
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 0.19%. |
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. |
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 | |
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 Extended Market Index Fund | ||||
Investor Shares |
12/21/1987 |
Extnd |
98 |
922908207 |
Vanguard Mid-Cap Index Fund | ||||
Investor Shares |
5/21/1998 |
MidCp |
859 |
922908843 |
Vanguard Mid-Cap Value Index Fund | ||||
Investor Shares |
8/24/2006 |
MdCpVlIn |
835 |
922908520 |
Vanguard Mid-Cap Growth Index Fund | ||||
Investor Shares |
8/24/2006 |
MdCpGrln |
832 |
922908546 |
| |
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 Extended Market Index Fund Admiral Shares |
|
|
|
Return Before Taxes |
- |
|
|
Return After Taxes on Distributions |
- |
|
|
Return After Taxes on Distributions and Sale of Fund Shares |
- |
|
|
Standard & Poor's Completion 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 |
|
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 Mid-Cap Index Fund Admiral Shares |
|
|
|
Return Before Taxes |
- |
|
|
Return After Taxes on Distributions |
- |
|
|
Return After Taxes on Distributions and Sale of Fund Shares |
- |
|
|
Spliced Mid Cap Index
(reflects no deduction for fees, expenses, or taxes) |
- |
|
|
CRSP US Mid Cap 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 |
|
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 Mid-Cap Value Index Fund Admiral Shares |
|
|
|
Return Before Taxes |
- |
|
|
Return After Taxes on Distributions |
- |
|
|
Return After Taxes on Distributions and Sale of Fund Shares |
- |
|
|
Spliced Mid Cap Value Index
(reflects no deduction for fees, expenses, or taxes) |
- |
|
|
CRSP US Mid Cap 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 |
|
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 Mid-Cap Growth Index Fund Admiral Shares |
|
|
|
Return Before Taxes |
- |
|
|
Return After Taxes on Distributions |
- |
|
|
Return After Taxes on Distributions and Sale of Fund Shares |
- |
|
|
Spliced Mid Cap Growth Index
(reflects no deduction for fees, expenses, or taxes) |
- |
|
|
CRSP US Mid Cap 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 Extended Market Index Fund |
$5.6 billion |
Vanguard Mid-Cap Index Fund |
23.2 billion |
Vanguard Mid-Cap Value Index Fund |
22.9 billion |
Vanguard Mid-Cap Growth Index Fund |
23.8 billion |
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 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. 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 December 31, | ||||
For a Share Outstanding Throughout Each Period |
2022 |
2021 |
2020 |
2019 |
2018 |
Net Asset Value, Beginning of Period |
$138.70 |
$124.75 |
$95.61 |
$75.70 |
$84.76 |
Investment Operations |
|
|
|
|
|
Net Investment Income1 |
1.437 |
1.408 |
1.112 |
1.236 |
1.307 |
Net Realized and Unrealized Gain (Loss) on
Investments |
(38.129) |
14.106 |
29.367 |
19.918 |
(9.111) |
Total from Investment Operations |
(36.692) |
15.514 |
30.479 |
21.154 |
(7.804) |
Distributions |
|
|
|
|
|
Dividends from Net Investment Income |
(1.158) |
(1.564) |
(1.339) |
(1.244) |
(1.256) |
Distributions from Realized Capital Gains |
— |
— |
— |
— |
— |
Total Distributions |
(1.158) |
(1.564) |
(1.339) |
(1.244) |
(1.256) |
Net Asset Value, End of Period |
$100.85 |
$138.70 |
$124.75 |
$95.61 |
$75.70 |
Total Return2 |
-26.47% |
12.45% |
32.21% |
28.03% |
-9.36% |
Ratios/Supplemental Data |
|
|
|
|
|
Net Assets, End of Period (Millions) |
$20,012 |
$29,054 |
$26,784 |
$22,391 |
$17,644 |
Ratio of Total Expenses to Average Net Assets |
0.06%3 |
0.06% |
0.06% |
0.06% |
0.07% |
Ratio of Net Investment Income to Average Net Assets |
1.29% |
1.01% |
1.18% |
1.39% |
1.50% |
Portfolio Turnover Rate4 |
11% |
19% |
19% |
13% |
10% |
|
|
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 0.06%. |
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 December 31, | ||||
For a Share Outstanding Throughout Each Period |
2022 |
2021 |
2020 |
2019 |
2018 |
Net Asset Value, Beginning of Period |
$315.46 |
$256.40 |
$220.66 |
$171.04 |
$191.55 |
Investment Operations |
|
|
|
|
|
Net Investment Income1 |
4.028 |
3.333 |
3.418 |
3.296 |
3.135 |
Net Realized and Unrealized Gain (Loss) on
Investments |
(63.000) |
59.242 |
36.010 |
49.578 |
(20.539) |
Total from Investment Operations |
(58.972) |
62.575 |
39.428 |
52.874 |
(17.404) |
Distributions |
|
|
|
|
|
Dividends from Net Investment Income |
(4.018) |
(3.515) |
(3.688) |
(3.254) |
(3.106) |
Distributions from Realized Capital Gains |
— |
— |
— |
— |
— |
Total Distributions |
(4.018) |
(3.515) |
(3.688) |
(3.254) |
(3.106) |
Net Asset Value, End of Period |
$252.47 |
$315.46 |
$256.40 |
$220.66 |
$171.04 |
Total Return2 |
-18.71% |
24.51% |
18.24% |
31.03% |
-9.23% |
Ratios/Supplemental Data |
|
|
|
|
|
Net Assets, End of Period (Millions) |
$51,352 |
$65,118 |
$53,301 |
$47,640 |
$34,754 |
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 |
1.51% |
1.14% |
1.61% |
1.62% |
1.61% |
Portfolio Turnover Rate4 |
12% |
16% |
26% |
15% |
16% |
|
|
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 0.05%. |
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 December 31, | ||||
For a Share Outstanding Throughout Each Period |
2022 |
2021 |
2020 |
2019 |
2018 |
Net Asset Value, Beginning of Period |
$77.84 |
$61.61 |
$61.79 |
$49.33 |
$57.74 |
Investment Operations |
|
|
|
|
|
Net Investment Income1 |
1.586 |
1.413 |
1.4382 |
1.303 |
1.3853 |
Net Realized and Unrealized Gain (Loss) on Investments |
(7.753) |
16.201 |
(.162) |
12.422 |
(8.439) |
Total from Investment Operations |
(6.167) |
17.614 |
1.276 |
13.725 |
(7.054) |
Distributions |
|
|
|
|
|
Dividends from Net Investment Income |
(1.593) |
(1.384) |
(1.456) |
(1.265) |
(1.356) |
Distributions from Realized Capital Gains |
— |
— |
— |
— |
— |
Total Distributions |
(1.593) |
(1.384) |
(1.456) |
(1.265) |
(1.356) |
Net Asset Value, End of Period |
$70.08 |
$77.84 |
$61.61 |
$61.79 |
$49.33 |
Total Return4 |
-7.90% |
28.76% |
2.54% |
27.99% |
-12.42% |
Ratios/Supplemental Data |
|
|
|
|
|
Net Assets, End of Period (Millions) |
$11,740 |
$13,218 |
$10,092 |
$11,148 |
$7,738 |
Ratio of Total Expenses to Average Net Assets |
0.07%5 |
0.07% |
0.07% |
0.07% |
0.07% |
Ratio of Net Investment Income to Average Net Assets |
2.19% |
1.95% |
2.69%2 |
2.28% |
2.41%3 |
Portfolio Turnover Rate6 |
18% |
17% |
39% |
17% |
17% |
|
|
1 |
Calculated based on average shares outstanding. |
2 |
Net investment income per share and the ratio of net investment income to average net assets include $.187 and
0.35%, respectively, resulting from a special dividend from NortonLifeLock Inc. in February 2020. |
3 |
Net investment income per share and the ratio of net investment income to average net assets include $.146 and
0.26%, respectively, resulting from a special dividend from Dr Pepper Snapple Group Inc. in July 2018. |
4 |
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. |
5 |
The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements
was 0.07%. |
6 |
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 December 31, | ||||
For a Share Outstanding Throughout Each Period |
2022 |
2021 |
2020 |
2019 |
2018 |
Net Asset Value, Beginning of Period |
$109.55 |
$91.26 |
$68.34 |
$51.48 |
$54.96 |
Investment Operations |
|
|
|
|
|
Net Investment Income1 |
.602 |
.373 |
.461 |
.603 |
.437 |
Net Realized and Unrealized Gain (Loss) on Investments |
(32.180) |
18.287 |
22.967 |
16.793 |
(3.485) |
Total from Investment Operations |
(31.578) |
18.660 |
23.428 |
17.396 |
(3.048) |
Distributions |
|
|
|
|
|
Dividends from Net Investment Income |
(.602) |
(.370) |
(.508) |
(.536) |
(.432) |
Distributions from Realized Capital Gains |
— |
— |
— |
— |
— |
Total Distributions |
(.602) |
(.370) |
(.508) |
(.536) |
(.432) |
Net Asset Value, End of Period |
$77.37 |
$109.55 |
$91.26 |
$68.34 |
$51.48 |
Total Return2 |
-28.84% |
20.48% |
34.48% |
33.86% |
-5.60% |
Ratios/Supplemental Data |
|
|
|
|
|
Net Assets, End of Period (Millions) |
$9,124 |
$12,797 |
$10,712 |
$8,173 |
$5,544 |
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 |
0.71% |
0.37% |
0.63% |
0.96% |
0.76% |
Portfolio Turnover Rate4 |
22% |
25% |
22% |
18% |
25% |
|
|
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. |
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 | |
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 Extended Market Index Fund | ||||
Admiral Shares |
11/13/2000 |
ExtndAdml |
598 |
922908694 |
Vanguard Mid-Cap Index Fund | ||||
Admiral Shares |
11/12/2001 |
MidCpAdml |
5859 |
922908645 |
Vanguard Mid-Cap Value Index Fund | ||||
Admiral Shares |
9/27/2011 |
MdCpVIAdml |
5835 |
921937694 |
Vanguard Mid-Cap Growth Index Fund | ||||
Admiral Shares |
9/27/2011 |
MdCpGrAdml |
5832 |
921937728 |
|
Institutional Shares |
Institutional Plus Shares |
Sales Charge (Load) Imposed on Purchases |
|
|
Purchase Fee |
|
|
Sales Charge (Load) Imposed on Reinvested
Dividends |
|
|
Redemption Fee |
|
|
|
Institutional Shares |
Institutional Plus Shares |
Management Fees |
|
|
12b-1 Distribution Fee |
|
|
Other Expenses |
|
|
Total Annual Fund Operating Expenses |
|
|
|
1 Year |
3 Years |
5 Years |
10 Years |
Institutional Shares |
$ |
$ |
$ |
$ |
Institutional Plus Shares |
$ |
$ |
$ |
$ |
|
Total Return |
Quarter |
|
|
|
|
- |
|
|
1 Year |
5 Years |
10 Years |
Vanguard Extended Market Index Fund
Institutional Shares |
|
|
|
Return Before Taxes |
- |
|
|
Return After Taxes on Distributions |
- |
|
|
Return After Taxes on Distributions and Sale of Fund Shares |
- |
|
|
Vanguard Extended Market Index Fund Institutional
Plus Shares |
|
|
|
Return Before Taxes |
- |
|
|
Standard & Poor's Completion 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) |
- |
|
|
|
Institutional Shares |
Institutional Plus Shares |
Sales Charge (Load) Imposed on Purchases |
|
|
Purchase Fee |
|
|
Sales Charge (Load) Imposed on Reinvested
Dividends |
|
|
Redemption Fee |
|
|
|
Institutional Shares |
Institutional Plus Shares |
Management Fees |
|
|
12b-1 Distribution Fee |
|
|
Other Expenses |
|
|
Total Annual Fund Operating Expenses |
|
|
|
1 Year |
3 Years |
5 Years |
10 Years |
Institutional Shares |
$ |
$ |
$ |
$ |
Institutional Plus Shares |
$ |
$ |
$ |
$ |
|
Total Return |
Quarter |
|
|
|
|
- |
|
|
1 Year |
5 Years |
10 Years |
Vanguard Mid-Cap Index Fund Institutional Shares |
|
|
|
Return Before Taxes |
- |
|
|
Return After Taxes on Distributions |
- |
|
|
Return After Taxes on Distributions and Sale of Fund Shares |
- |
|
|
Vanguard Mid-Cap Index Fund Institutional Plus Shares |
|
|
|
Return Before Taxes |
- |
|
|
Spliced Mid Cap Index
(reflects no deduction for fees, expenses, or taxes) |
- |
|
|
CRSP US Mid Cap 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 Extended Market Index Fund |
$5.6 billion |
Vanguard Mid-Cap Index Fund |
23.2 billion |
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. 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 December 31, | ||||
For a Share Outstanding Throughout Each Period |
2022 |
2021 |
2020 |
2019 |
2018 |
Net Asset Value, Beginning of Period |
$138.69 |
$124.74 |
$95.60 |
$75.69 |
$84.75 |
Investment Operations |
|
|
|
|
|
Net Investment Income1 |
1.439 |
1.413 |
1.125 |
1.239 |
1.319 |
Net Realized and Unrealized Gain (Loss) on
Investments |
(38.120) |
14.115 |
29.364 |
19.925 |
(9.113) |
Total from Investment Operations |
(36.681) |
15.528 |
30.489 |
21.164 |
(7.794) |
Distributions |
|
|
|
|
|
Dividends from Net Investment Income |
(1.169) |
(1.578) |
(1.349) |
(1.254) |
(1.266) |
Distributions from Realized Capital Gains |
— |
— |
— |
— |
— |
Total Distributions |
(1.169) |
(1.578) |
(1.349) |
(1.254) |
(1.266) |
Net Asset Value, End of Period |
$100.84 |
$138.69 |
$124.74 |
$95.60 |
$75.69 |
Total Return |
-26.46% |
12.47% |
32.23% |
28.05% |
-9.35% |
Ratios/Supplemental Data |
|
|
|
|
|
Net Assets, End of Period (Millions) |
$12,983 |
$19,456 |
$18,659 |
$14,927 |
$12,443 |
Ratio of Total Expenses to Average Net Assets |
0.05%2 |
0.05% |
0.05% |
0.05% |
0.06% |
Ratio of Net Investment Income to Average Net Assets |
1.29% |
1.01% |
1.19% |
1.40% |
1.51% |
Portfolio Turnover Rate3 |
11% |
19% |
19% |
13% |
10% |
|
|
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 December 31, | ||||
For a Share Outstanding Throughout Each Period |
2022 |
2021 |
2020 |
2019 |
2018 |
Net Asset Value, Beginning of Period |
$342.27 |
$307.85 |
$235.94 |
$186.80 |
$209.16 |
Investment Operations |
|
|
|
|
|
Net Investment Income1 |
3.597 |
3.595 |
2.798 |
3.078 |
3.208 |
Net Realized and Unrealized Gain (Loss) on
Investments |
(94.104) |
34.757 |
72.466 |
49.178 |
(22.426) |
Total from Investment Operations |
(90.507) |
38.352 |
75.264 |
52.256 |
(19.218) |
Distributions |
|
|
|
|
|
Dividends from Net Investment Income |
(2.913) |
(3.932) |
(3.354) |
(3.116) |
(3.142) |
Distributions from Realized Capital Gains |
— |
— |
— |
— |
— |
Total Distributions |
(2.913) |
(3.932) |
(3.354) |
(3.116) |
(3.142) |
Net Asset Value, End of Period |
$248.85 |
$342.27 |
$307.85 |
$235.94 |
$186.80 |
Total Return |
-26.45% |
12.48% |
32.24% |
28.07% |
-9.35% |
Ratios/Supplemental Data |
|
|
|
|
|
Net Assets, End of Period (Millions) |
$10,446 |
$15,973 |
$11,665 |
$9,486 |
$7,559 |
Ratio of Total Expenses to Average Net Assets |
0.04%2 |
0.04% |
0.04% |
0.04% |
0.05% |
Ratio of Net Investment Income to Average Net
Assets |
1.31% |
1.04% |
1.20% |
1.41% |
1.52% |
Portfolio Turnover Rate3 |
11% |
19% |
19% |
13% |
10% |
|
|
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 December 31, | ||||
For a Share Outstanding Throughout Each Period |
2022 |
2021 |
2020 |
2019 |
2018 |
Net Asset Value, Beginning of Period |
$69.69 |
$56.64 |
$48.74 |
$37.78 |
$42.32 |
Investment Operations |
|
|
|
|
|
Net Investment Income1 |
.893 |
.743 |
.759 |
.727 |
.697 |
Net Realized and Unrealized Gain (Loss) on Investments |
(13.919) |
13.090 |
7.961 |
10.957 |
(4.547) |
Total from Investment Operations |
(13.026) |
13.833 |
8.720 |
11.684 |
(3.850) |
Distributions |
|
|
|
|
|
Dividends from Net Investment Income |
(.894) |
(.783) |
(.820) |
(.724) |
(.690) |
Distributions from Realized Capital Gains |
— |
— |
— |
— |
— |
Total Distributions |
(.894) |
(.783) |
(.820) |
(.724) |
(.690) |
Net Asset Value, End of Period |
$55.77 |
$69.69 |
$56.64 |
$48.74 |
$37.78 |
Total Return |
-18.70% |
24.53% |
18.26% |
31.04% |
-9.24% |
Ratios/Supplemental Data |
|
|
|
|
|
Net Assets, End of Period (Millions) |
$20,231 |
$27,312 |
$22,291 |
$20,425 |
$16,524 |
Ratio of Total Expenses to Average Net Assets |
0.04%2 |
0.04% |
0.04% |
0.04% |
0.04% |
Ratio of Net Investment Income to Average Net Assets |
1.51% |
1.15% |
1.62% |
1.62% |
1.62% |
Portfolio Turnover Rate3 |
12% |
16% |
26% |
15% |
16% |
|
|
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 December 31, | ||||
For a Share Outstanding Throughout Each Period |
2022 |
2021 |
2020 |
2019 |
2018 |
Net Asset Value, Beginning of Period |
$343.68 |
$279.34 |
$240.40 |
$186.34 |
$208.69 |
Investment Operations |
|
|
|
|
|
Net Investment Income1 |
4.458 |
3.688 |
3.774 |
3.598 |
3.464 |
Net Realized and Unrealized Gain (Loss) on
Investments |
(68.641) |
64.544 |
39.230 |
54.052 |
(22.388) |
Total from Investment Operations |
(64.183) |
68.232 |
43.004 |
57.650 |
(18.924) |
Distributions |
|
|
|
|
|
Dividends from Net Investment Income |
(4.437) |
(3.892) |
(4.064) |
(3.590) |
(3.426) |
Distributions from Realized Capital Gains |
— |
— |
— |
— |
— |
Total Distributions |
(4.437) |
(3.892) |
(4.064) |
(3.590) |
(3.426) |
Net Asset Value, End of Period |
$275.06 |
$343.68 |
$279.34 |
$240.40 |
$186.34 |
Total Return |
-18.69% |
24.53% |
18.27% |
31.06% |
-9.21% |
Ratios/Supplemental Data |
|
|
|
|
|
Net Assets, End of Period (Millions) |
$14,846 |
$17,723 |
$14,937 |
$13,612 |
$11,426 |
Ratio of Total Expenses to Average Net Assets |
0.03%2 |
0.03% |
0.03% |
0.03% |
0.03% |
Ratio of Net Investment Income to Average Net
Assets |
1.53% |
1.16% |
1.63% |
1.62% |
1.63% |
Portfolio Turnover Rate3 |
12% |
16% |
26% |
15% |
16% |
|
|
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 0.03%. |
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. |
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 | |
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 Extended Market Index Fund | ||||
Institutional Shares |
7/7/1997 |
ExtndInst |
856 |
922908884 |
Institutional Plus Shares |
1/14/2011 |
ExtndIstPl |
1860 |
922908371 |
Vanguard Mid-Cap Index Fund | ||||
Institutional Shares |
5/21/1998 |
MidCpInst |
864 |
922908835 |
Institutional Plus Shares |
12/15/2010 |
MidCpIstPl |
1859 |
922908389 |
| |
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 Small-Cap Index Fund Investor Shares |
|
|
|
Return Before Taxes |
- |
|
|
Return After Taxes on Distributions |
- |
|
|
Return After Taxes on Distributions and Sale of Fund Shares |
- |
|
|
Spliced Small Cap Index
(reflects no deduction for fees, expenses, or taxes) |
- |
|
|
CRSP US Small Cap 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 |
|
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 Small-Cap Value Index Fund Investor Shares |
|
|
|
Return Before Taxes |
- |
|
|
Return After Taxes on Distributions |
- |
|
|
Return After Taxes on Distributions and Sale of Fund Shares |
- |
|
|
Spliced Small Cap Value Index
(reflects no deduction for fees, expenses, or taxes) |
- |
|
|
CRSP US Small Cap 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 |
|
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 Small-Cap Growth Index Fund Investor Shares |
|
|
|
Return Before Taxes |
- |
|
|
Return After Taxes on Distributions |
- |
|
|
Return After Taxes on Distributions and Sale of Fund Shares |
- |
|
|
Spliced Small Cap Growth Index
(reflects no deduction for fees, expenses, or taxes) |
- |
|
|
CRSP US Small Cap 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 Small-Cap Index Fund |
$5.3 billion |
Vanguard Small-Cap Value Index Fund |
5.5 billion |
Vanguard Small-Cap Growth Index Fund |
5.1 billion |
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 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 saving
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 December 31, | ||||
For a Share Outstanding Throughout Each Period |
2022 |
2021 |
2020 |
2019 |
2018 |
Net Asset Value, Beginning of Period |
$108.35 |
$93.20 |
$79.35 |
$63.21 |
$70.76 |
Investment Operations |
|
|
|
|
|
Net Investment Income1 |
1.256 |
1.230 |
.928 |
.832 |
.967 |
Net Realized and Unrealized Gain (Loss) on Investments |
(20.439) |
15.130 |
13.897 |
16.319 |
(7.552) |
Total from Investment Operations |
(19.183) |
16.360 |
14.825 |
17.151 |
(6.585) |
Distributions |
|
|
|
|
|
Dividends from Net Investment Income |
(1.237) |
(1.210) |
(.975) |
(1.011) |
(.965) |
Distributions from Realized Capital Gains |
— |
— |
— |
— |
— |
Total Distributions |
(1.237) |
(1.210) |
(.975) |
(1.011) |
(.965) |
Net Asset Value, End of Period |
$87.93 |
$108.35 |
$93.20 |
$79.35 |
$63.21 |
Total Return2 |
-17.71% |
17.59% |
18.96% |
27.22% |
-9.43% |
Ratios/Supplemental Data |
|
|
|
|
|
Net Assets, End of Period (Millions) |
$424 |
$619 |
$709 |
$754 |
$3,332 |
Ratio of Total Expenses to Average Net Assets |
0.17%3 |
0.17% |
0.17% |
0.17% |
0.17% |
Ratio of Net Investment Income to Average Net Assets |
1.34% |
1.17% |
1.26% |
1.14% |
1.34% |
Portfolio Turnover Rate4 |
14% |
17% |
22% |
16% |
15% |
|
|
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 0.17%. |
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 December 31, | ||||
For a Share Outstanding Throughout Each Period |
2022 |
2021 |
2020 |
2019 |
2018 |
Net Asset Value, Beginning of Period |
$42.87 |
$34.08 |
$32.86 |
$27.35 |
$31.82 |
Investment Operations |
|
|
|
|
|
Net Investment Income1 |
.722 |
.724 |
.550 |
.543 |
.603 |
Net Realized and Unrealized Gain (Loss) on Investments |
(4.777) |
8.767 |
1.208 |
5.608 |
(4.471) |
Total from Investment Operations |
(4.055) |
9.491 |
1.758 |
6.151 |
(3.868) |
Distributions |
|
|
|
|
|
Dividends from Net Investment Income |
(.725) |
(.701) |
(.538) |
(.641) |
(.602) |
Distributions from Realized Capital Gains |
— |
— |
— |
— |
— |
Total Distributions |
(.725) |
(.701) |
(.538) |
(.641) |
(.602) |
Net Asset Value, End of Period |
$38.09 |
$42.87 |
$34.08 |
$32.86 |
$27.35 |
Total Return2 |
-9.43% |
27.96% |
5.72% |
22.61% |
-12.34% |
Ratios/Supplemental Data |
|
|
|
|
|
Net Assets, End of Period (Millions) |
$149 |
$208 |
$234 |
$255 |
$1,501 |
Ratio of Total Expenses to Average Net Assets |
0.19%3 |
0.19% |
0.19% |
0.19% |
0.19% |
Ratio of Net Investment Income to Average Net Assets |
1.83% |
1.78% |
1.98% |
1.76% |
1.92% |
Portfolio Turnover Rate4 |
13% |
16% |
26% |
19% |
18% |
|
|
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 0.19%. |
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 December 31, | ||||
For a Share Outstanding Throughout Each Period |
2022 |
2021 |
2020 |
2019 |
2018 |
Net Asset Value, Beginning of Period |
$79.21 |
$75.20 |
$55.89 |
$42.36 |
$45.24 |
Investment Operations |
|
|
|
|
|
Net Investment Income1 |
.371 |
.257 |
.241 |
.178 |
.274 |
Net Realized and Unrealized Gain (Loss) on Investments |
(22.943) |
3.938 |
19.331 |
13.617 |
(2.879) |
Total from Investment Operations |
(22.572) |
4.195 |
19.572 |
13.795 |
(2.605) |
Distributions |
|
|
|
|
|
Dividends from Net Investment Income |
(.258) |
(.185) |
(.262) |
(.265) |
(.275) |
Distributions from Realized Capital Gains |
— |
— |
— |
— |
— |
Total Distributions |
(.258) |
(.185) |
(.262) |
(.265) |
(.275) |
Net Asset Value, End of Period |
$56.38 |
$79.21 |
$75.20 |
$55.89 |
$42.36 |
Total Return2 |
-28.49% |
5.58% |
35.12% |
32.60% |
-5.80% |
Ratios/Supplemental Data |
|
|
|
|
|
Net Assets, End of Period (Millions) |
$80 |
$149 |
$209 |
$171 |
$1,461 |
Ratio of Total Expenses to Average Net Assets |
0.19%3 |
0.19% |
0.19% |
0.19% |
0.19% |
Ratio of Net Investment Income to Average Net Assets |
0.60% |
0.32% |
0.42% |
0.35% |
0.58% |
Portfolio Turnover Rate4 |
24% |
29% |
24% |
18% |
22% |
|
|
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 0.19%. |
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. |
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 | |
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 Small-Cap Index Fund | ||||
Investor Shares |
10/3/1960 |
SmCap |
48 |
922908702 |
Vanguard Small-Cap Value Index Fund | ||||
Investor Shares |
5/21/1998 |
SmVal |
860 |
922908793 |
Vanguard Small-Cap
Growth Index Fund |
|
|
|
|
Investor Shares |
5/21/1998 |
SmGth |
861 |
922908827 |
| |
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 Small-Cap Index Fund Admiral Shares |
|
|
|
Return Before Taxes |
- |
|
|
Return After Taxes on Distributions |
- |
|
|
Return After Taxes on Distributions and Sale of Fund Shares |
- |
|
|
Spliced Small Cap Index
(reflects no deduction for fees, expenses, or taxes) |
- |
|
|
CRSP US Small Cap 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 |
|
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 Small-Cap Value Index Fund Admiral Shares |
|
|
|
Return Before Taxes |
- |
|
|
Return After Taxes on Distributions |
- |
|
|
Return After Taxes on Distributions and Sale of Fund Shares |
- |
|
|
Spliced Small Cap Value Index
(reflects no deduction for fees, expenses, or taxes) |
- |
|
|
CRSP US Small Cap 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 |
|
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 Small-Cap Growth Index Fund Admiral Shares |
|
|
|
Return Before Taxes |
- |
|
|
Return After Taxes on Distributions |
- |
|
|
Return After Taxes on Distributions and Sale of Fund Shares |
- |
|
|
Spliced Small Cap Growth Index
(reflects no deduction for fees, expenses, or taxes) |
- |
|
|
CRSP US Small Cap 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 Small-Cap Index Fund |
$5.3 billion |
Vanguard Small-Cap Value Index Fund |
5.5 billion |
Vanguard Small-Cap Growth Index Fund |
5.1 billion |
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 saving
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 December 31, | ||||
For a Share Outstanding Throughout Each Period |
2022 |
2021 |
2020 |
2019 |
2018 |
Net Asset Value, Beginning of Period |
$108.37 |
$93.22 |
$79.37 |
$63.23 |
$70.78 |
Investment Operations |
|
|
|
|
|
Net Investment Income1 |
1.383 |
1.358 |
1.029 |
1.108 |
1.067 |
Net Realized and Unrealized Gain (Loss) on Investments |
(20.461) |
15.131 |
13.887 |
16.136 |
(7.563) |
Total from Investment Operations |
(19.078) |
16.489 |
14.916 |
17.244 |
(6.496) |
Distributions |
|
|
|
|
|
Dividends from Net Investment Income |
(1.352) |
(1.339) |
(1.066) |
(1.104) |
(1.054) |
Distributions from Realized Capital Gains |
— |
— |
— |
— |
— |
Total Distributions |
(1.352) |
(1.339) |
(1.066) |
(1.104) |
(1.054) |
Net Asset Value, End of Period |
$87.94 |
$108.37 |
$93.22 |
$79.37 |
$63.23 |
Total Return2 |
-17.61% |
17.73% |
19.11% |
27.37% |
-9.31% |
Ratios/Supplemental Data |
|
|
|
|
|
Net Assets, End of Period (Millions) |
$44,944 |
$55,266 |
$47,313 |
$42,386 |
$31,382 |
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 |
1.48% |
1.29% |
1.40% |
1.50% |
1.46% |
Portfolio Turnover Rate4 |
14% |
17% |
22% |
16% |
15% |
|
|
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 0.05%. |
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 December 31, | ||||
For a Share Outstanding Throughout Each Period |
2022 |
2021 |
2020 |
2019 |
2018 |
Net Asset Value, Beginning of Period |
$76.81 |
$61.07 |
$58.89 |
$49.01 |
$57.02 |
Investment Operations |
|
|
|
|
|
Net Investment Income1 |
1.403 |
1.381 |
1.058 |
1.230 |
1.165 |
Net Realized and Unrealized Gain (Loss) on Investments |
(8.576) |
15.704 |
2.148 |
9.863 |
(8.024) |
Total from Investment Operations |
(7.173) |
17.085 |
3.206 |
11.093 |
(6.859) |
Distributions |
|
|
|
|
|
Dividends from Net Investment Income |
(1.387) |
(1.345) |
(1.026) |
(1.213) |
(1.151) |
Distributions from Realized Capital Gains |
— |
— |
— |
— |
— |
Total Distributions |
(1.387) |
(1.345) |
(1.026) |
(1.213) |
(1.151) |
Net Asset Value, End of Period |
$68.25 |
$76.81 |
$61.07 |
$58.89 |
$49.01 |
Total Return2 |
-9.31% |
28.09% |
5.85% |
22.76% |
-12.23% |
Ratios/Supplemental Data |
|
|
|
|
|
Net Assets, End of Period (Millions) |
$17,505 |
$19,307 |
$14,314 |
$13,907 |
$10,167 |
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 |
1.99% |
1.89% |
2.13% |
2.21% |
2.04% |
Portfolio Turnover Rate4 |
13% |
16% |
26% |
19% |
18% |
|
|
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 December 31, | ||||
For a Share Outstanding Throughout Each Period |
2022 |
2021 |
2020 |
2019 |
2018 |
Net Asset Value, Beginning of Period |
$99.01 |
$94.02 |
$69.87 |
$52.95 |
$56.55 |
Investment Operations |
|
|
|
|
|
Net Investment Income1 |
.568 |
.448 |
.392 |
.419 |
.423 |
Net Realized and Unrealized Gain (Loss) on Investments |
(28.682) |
4.899 |
24.172 |
16.902 |
(3.605) |
Total from Investment Operations |
(28.114) |
5.347 |
24.564 |
17.321 |
(3.182) |
Distributions |
|
|
|
|
|
Dividends from Net Investment Income |
(.386) |
(.357) |
(.414) |
(.401) |
(.418) |
Distributions from Realized Capital Gains |
— |
— |
— |
— |
— |
Total Distributions |
(.386) |
(.357) |
(.414) |
(.401) |
(.418) |
Net Asset Value, End of Period |
$70.51 |
$99.01 |
$94.02 |
$69.87 |
$52.95 |
Total Return2 |
-28.39% |
5.69% |
35.30% |
32.76% |
-5.68% |
Ratios/Supplemental Data |
|
|
|
|
|
Net Assets, End of Period (Millions) |
$11,482 |
$16,594 |
$16,149 |
$12,717 |
$8,560 |
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 |
0.73% |
0.45% |
0.54% |
0.65% |
0.70% |
Portfolio Turnover Rate4 |
24% |
29% |
24% |
18% |
22% |
|
|
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. |
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 | |
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 Small-Cap Index Fund | ||||
Admiral Shares |
11/13/2000 |
SmCapAdml |
548 |
922908686 |
Vanguard Small-Cap Value Index Fund | ||||
Admiral Shares |
9/27/2011 |
SmValAdml |
5860 |
921937686 |
Vanguard Small-Cap
Growth Index Fund |
|
|
|
|
Admiral Shares |
9/27/2011 |
SmGthAdml |
5861 |
921937710 |
|
Institutional Shares |
Institutional Plus Shares |
Sales Charge (Load) Imposed on Purchases |
|
|
Purchase Fee |
|
|
Sales Charge (Load) Imposed on Reinvested
Dividends |
|
|
Redemption Fee |
|
|
|
Institutional Shares |
Institutional Plus Shares |
Management Fees |
|
|
12b-1 Distribution Fee |
|
|
Other Expenses |
|
|
Total Annual Fund Operating Expenses |
|
|
|
1 Year |
3 Years |
5 Years |
10 Years |
Institutional Shares |
$ |
$ |
$ |
$ |
Institutional Plus Shares |
$ |
$ |
$ |
$ |
|
Total Return |
Quarter |
|
|
|
|
- |
|
|
1 Year |
5 Years |
10 Years |
Vanguard Small-Cap Index Fund Institutional Shares |
|
|
|
Return Before Taxes |
- |
|
|
Return After Taxes on Distributions |
- |
|
|
Return After Taxes on Distributions and Sale of Fund Shares |
- |
|
|
Vanguard Small-Cap Index Fund Institutional Plus Shares |
|
|
|
Return Before Taxes |
- |
|
|
Spliced Small Cap Index
(reflects no deduction for fees, expenses, or taxes) |
- |
|
|
CRSP US Small Cap 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 Small-Cap Value Index Fund Institutional Shares |
|
|
|
Return Before Taxes |
- |
|
|
Return After Taxes on Distributions |
- |
|
|
Return After Taxes on Distributions and Sale of Fund Shares |
- |
|
|
Spliced Small Cap Value Index
(reflects no deduction for fees, expenses, or taxes) |
- |
|
|
CRSP US Small Cap 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 Small-Cap Growth Index Fund
Institutional Shares |
|
|
|
Return Before Taxes |
- |
|
|
Return After Taxes on Distributions |
- |
|
|
Return After Taxes on Distributions and Sale of Fund Shares |
- |
|
|
Spliced Small Cap Growth Index
(reflects no deduction for fees, expenses, or taxes) |
- |
|
|
CRSP US Small Cap 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 Small-Cap Index Fund |
$5.3 billion |
Vanguard Small-Cap Value Index Fund |
5.5 billion |
Vanguard Small-Cap Growth Index Fund |
5.1 billion |
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 December 31, | ||||
For a Share Outstanding Throughout Each Period |
2022 |
2021 |
2020 |
2019 |
2018 |
Net Asset Value, Beginning of Period |
$108.36 |
$93.22 |
$79.37 |
$63.22 |
$70.78 |
Investment Operations |
|
|
|
|
|
Net Investment Income1 |
1.392 |
1.367 |
1.034 |
1.101 |
1.076 |
Net Realized and Unrealized Gain (Loss) on Investments |
(20.461) |
15.123 |
13.889 |
16.161 |
(7.575) |
Total from Investment Operations |
(19.069) |
16.490 |
14.923 |
17.262 |
(6.499) |
Distributions |
|
|
|
|
|
Dividends from Net Investment Income |
(1.361) |
(1.350) |
(1.073) |
(1.112) |
(1.061) |
Distributions from Realized Capital Gains |
— |
— |
— |
— |
— |
Total Distributions |
(1.361) |
(1.350) |
(1.073) |
(1.112) |
(1.061) |
Net Asset Value, End of Period |
$87.93 |
$108.36 |
$93.22 |
$79.37 |
$63.22 |
Total Return |
-17.60% |
17.73% |
19.12% |
27.40% |
-9.32% |
Ratios/Supplemental Data |
|
|
|
|
|
Net Assets, End of Period (Millions) |
$17,363 |
$21,841 |
$18,957 |
$17,337 |
$14,454 |
Ratio of Total Expenses to Average Net Assets |
0.04%2 |
0.04% |
0.04% |
0.04% |
0.04% |
Ratio of Net Investment Income to Average Net Assets |
1.49% |
1.29% |
1.41% |
1.49% |
1.47% |
Portfolio Turnover Rate3 |
14% |
17% |
22% |
16% |
15% |
|
|
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 December 31, | ||||
For a Share Outstanding Throughout Each Period |
2022 |
2021 |
2020 |
2019 |
2018 |
Net Asset Value, Beginning of Period |
$312.78 |
$269.07 |
$229.09 |
$182.49 |
$204.30 |
Investment Operations |
|
|
|
|
|
Net Investment Income1 |
3.998 |
4.029 |
2.988 |
3.186 |
3.102 |
Net Realized and Unrealized Gain (Loss) on
Investments |
(59.013) |
43.607 |
40.111 |
46.645 |
(21.825) |
Total from Investment Operations |
(55.015) |
47.636 |
43.099 |
49.831 |
(18.723) |
Distributions |
|
|
|
|
|
Dividends from Net Investment Income |
(3.955) |
(3.926) |
(3.119) |
(3.231) |
(3.087) |
Distributions from Realized Capital Gains |
— |
— |
— |
— |
— |
Total Distributions |
(3.955) |
(3.926) |
(3.119) |
(3.231) |
(3.087) |
Net Asset Value, End of Period |
$253.81 |
$312.78 |
$269.07 |
$229.09 |
$182.49 |
Total Return |
-17.60% |
17.75% |
19.13% |
27.40% |
-9.30% |
Ratios/Supplemental Data |
|
|
|
|
|
Net Assets, End of Period (Millions) |
$9,146 |
$12,638 |
$10,172 |
$8,846 |
$7,866 |
Ratio of Total Expenses to Average Net Assets |
0.03%2 |
0.03% |
0.03% |
0.03% |
0.03% |
Ratio of Net Investment Income to Average Net
Assets |
1.48% |
1.32% |
1.41% |
1.49% |
1.48% |
Portfolio Turnover Rate3 |
14% |
17% |
22% |
16% |
15% |
|
|
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 0.03%. |
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 December 31, | ||||
For a Share Outstanding Throughout Each Period |
2022 |
2021 |
2020 |
2019 |
2018 |
Net Asset Value, Beginning of Period |
$42.94 |
$34.14 |
$32.92 |
$27.39 |
$31.87 |
Investment Operations |
|
|
|
|
|
Net Investment Income1 |
.796 |
.781 |
.597 |
.684 |
.651 |
Net Realized and Unrealized Gain (Loss) on Investments |
(4.806) |
8.775 |
1.199 |
5.527 |
(4.485) |
Total from Investment Operations |
(4.010) |
9.556 |
1.796 |
6.211 |
(3.834) |
Distributions |
|
|
|
|
|
Dividends from Net Investment Income |
(.780) |
(.756) |
(.576) |
(.681) |
(.646) |
Distributions from Realized Capital Gains |
— |
— |
— |
— |
— |
Total Distributions |
(.780) |
(.756) |
(.576) |
(.681) |
(.646) |
Net Asset Value, End of Period |
$38.15 |
$42.94 |
$34.14 |
$32.92 |
$27.39 |
Total Return |
-9.31% |
28.11% |
5.86% |
22.81% |
-12.23% |
Ratios/Supplemental Data |
|
|
|
|
|
Net Assets, End of Period (Millions) |
$4,797 |
$4,733 |
$3,774 |
$3,632 |
$3,077 |
Ratio of Total Expenses to Average Net Assets |
0.06%2 |
0.06% |
0.06% |
0.06% |
0.06% |
Ratio of Net Investment Income to Average Net Assets |
2.02% |
1.91% |
2.14% |
2.20% |
2.05% |
Portfolio Turnover Rate3 |
13% |
16% |
26% |
19% |
18% |
|
|
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 0.06%. |
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 December 31, | ||||
For a Share Outstanding Throughout Each Period |
2022 |
2021 |
2020 |
2019 |
2018 |
Net Asset Value, Beginning of Period |
$79.29 |
$75.29 |
$55.95 |
$42.40 |
$45.29 |
Investment Operations |
|
|
|
|
|
Net Investment Income1 |
.465 |
.367 |
.319 |
.327 |
.335 |
Net Realized and Unrealized Gain (Loss) on Investments |
(22.979) |
3.927 |
19.358 |
13.550 |
(2.886) |
Total from Investment Operations |
(22.514) |
4.294 |
19.677 |
13.877 |
(2.551) |
Distributions |
|
|
|
|
|
Dividends from Net Investment Income |
(.316) |
(.294) |
(.337) |
(.327) |
(.339) |
Distributions from Realized Capital Gains |
— |
— |
— |
— |
— |
Total Distributions |
(.316) |
(.294) |
(.337) |
(.327) |
(.339) |
Net Asset Value, End of Period |
$56.46 |
$79.29 |
$75.29 |
$55.95 |
$42.40 |
Total Return |
-28.39% |
5.70% |
35.31% |
32.77% |
-5.69% |
Ratios/Supplemental Data |
|
|
|
|
|
Net Assets, End of Period (Millions) |
$2,935 |
$3,805 |
$3,676 |
$3,218 |
$2,858 |
Ratio of Total Expenses to Average Net Assets |
0.06%2 |
0.06% |
0.06% |
0.06% |
0.06% |
Ratio of Net Investment Income to Average Net Assets |
0.75% |
0.46% |
0.55% |
0.64% |
0.71% |
Portfolio Turnover Rate3 |
24% |
29% |
24% |
18% |
22% |
|
|
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 0.06%. |
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. |
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 | |
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 |
For information and services for large institutional
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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 Small-Cap Index Fund | ||||
Institutional Shares |
7/7/1997
(Investor Shares
10/3/1960) |
SmCapInst |
857 |
922908876 |
Institutional Plus Shares |
12/17/2010 |
SmCapIstPl |
1861 |
922908397 |
Vanguard Small-Cap Value Index Fund | ||||
Institutional Shares |
12/7/1999
(Investor Shares
5/21/1998) |
SmValInst |
865 |
922908785 |
Vanguard Small-Cap
Growth Index Fund |
|
|
|
|
Institutional Shares |
5/24/2000
(Investor Shares
5/21/1998) |
SmGthInst |
866 |
922908819 |
| |
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 Total Stock Market 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 |
- |
|
|
Spliced Total Stock Market Index
(reflects no deduction for fees, expenses, or taxes) |
- |
|
|
CRSP US Total Market 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 Extended Market 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 |
- |
|
|
Standard & Poor's Completion 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 Large-Cap 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 |
- |
|
|
Spliced Large Cap Index
(reflects no deduction for fees, expenses, or taxes) |
- |
|
|
CRSP US Large Cap 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 Mid-Cap 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 |
- |
|
|
Spliced Mid Cap Index
(reflects no deduction for fees, expenses, or taxes) |
- |
|
|
CRSP US Mid Cap 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 Small-Cap 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 |
- |
|
|
Spliced Small Cap Index
(reflects no deduction for fees, expenses, or taxes) |
- |
|
|
CRSP US Small Cap 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 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 |
- |
|
|
Spliced Value Index
(reflects no deduction for fees, expenses, or taxes) |
- |
|
|
CRSP US Large Cap 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 Mid-Cap 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 |
- |
|
|
Spliced Mid Cap Value Index
(reflects no deduction for fees, expenses, or taxes) |
- |
|
|
CRSP US Mid Cap 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 Small-Cap 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 |
- |
|
|
Spliced Small Cap Value Index
(reflects no deduction for fees, expenses, or taxes) |
- |
|
|
CRSP US Small Cap 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 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 |
- |
|
|
Spliced Growth Index
(reflects no deduction for fees, expenses, or taxes) |
- |
|
|
CRSP US Large Cap 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 Mid-Cap 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 |
- |
|
|
Spliced Mid Cap Growth Index
(reflects no deduction for fees, expenses, or taxes) |
- |
|
|
CRSP US Mid Cap 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 Small-Cap 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 |
- |
|
|
Spliced Small Cap Growth Index
(reflects no deduction for fees, expenses, or taxes) |
- |
|
|
CRSP US Small Cap 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) |
- |
|
|
Vanguard Fund |
Vanguard ETF Shares |
Seeks to Track |
Total Stock Market Index Fund |
Total Stock Market ETF |
The overall stock market |
Extended Market Index Fund |
Extended Market ETF |
Mid- and small-cap stocks |
Large-Cap Index Fund |
Large-Cap ETF |
Large-cap stocks |
Mid-Cap Index Fund |
Mid-Cap ETF |
Mid-cap stocks |
Small-Cap Index Fund |
Small-Cap ETF |
Small-cap stocks |
Value Index Fund |
Value ETF |
Large-cap value stocks |
Mid-Cap Value Index Fund |
Mid-Cap Value ETF |
Mid-cap value stocks |
Small-Cap Value Index Fund |
Small-Cap Value ETF |
Small-cap value stocks |
Growth Index Fund |
Growth ETF |
Large-cap growth stocks |
Mid-Cap Growth Index Fund |
Mid-Cap Growth ETF |
Mid-cap growth stocks |
Small-Cap Growth Index Fund |
Small-Cap Growth ETF |
Small-cap growth stocks |
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 |
Total Stock Market Index Fund |
$110 billion |
Extended Market Index Fund |
5.6 billion |
Large-Cap Index Fund |
147 billion |
Mid-Cap Index Fund |
23.2 billion |
Small-Cap Index Fund |
5.3 billion |
Value Index Fund |
123 billion |
Mid-Cap Value Index Fund |
22.9 billion |
Small-Cap Value Index Fund |
5.5 billion |
Growth Index Fund |
193 billion |
Mid-Cap Growth Index Fund |
23.8 billion |
Small-Cap Growth Index Fund |
5.1 billion |
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 Total Stock Market
Index Fund |
|
|
|
ETF Shares |
5/24/2001
(Investor Shares—4/27/1992) |
970 |
922908769 |
Vanguard Extended Market
Index Fund |
|
|
|
ETF Shares |
12/27/2001
(Investor Shares—12/21/1987) |
965 |
922908652 |
Vanguard Large-Cap Index Fund |
|
|
|
ETF Shares |
1/27/2004
(Investor Shares—1/30/2004) |
961 |
922908637 |
Vanguard Mid-Cap Index Fund |
|
|
|
ETF Shares |
1/26/2004
(Investor Shares—5/21/1998) |
939 |
922908629 |
Vanguard Small-Cap Index Fund |
|
|
|
ETF Shares |
1/26/2004
(Investor Shares—10/3/1960) |
969 |
922908751 |
Vanguard Value Index Fund |
|
|
|
ETF Shares |
1/26/2004
(Investor Shares—11/2/1992) |
966 |
922908744 |
Vanguard Mid-Cap Value Index
Fund |
|
|
|
ETF Shares |
8/17/2006
(Investor Shares—8/24/2006) |
935 |
922908512 |
Vanguard Small-Cap Value Index
Fund |
|
|
|
ETF Shares |
1/26/2004
(Investor Shares—5/21/1998) |
937 |
922908611 |
Vanguard Growth Index Fund |
|
|
|
ETF Shares |
1/26/2004
(Investor Shares—11/2/1992) |
967 |
922908736 |
Vanguard Mid-Cap Growth Index
Fund |
|
|
|
ETF Shares |
8/17/2006
(Investor Shares—8/24/2006) |
932 |
922908538 |
Vanguard Small-Cap Growth
Index Fund |
|
|
|
ETF Shares |
1/26/2004
(Investor Shares—5/21/1998) |
938 |
922908595 |
|
Year Ended December 31, | ||||
For a Share Outstanding Throughout Each Period |
2022 |
2021 |
2020 |
2019 |
2018 |
Net Asset Value, Beginning of Period |
$241.49 |
$194.61 |
$163.70 |
$127.56 |
$137.06 |
Investment Operations |
|
|
|
|
|
Net Investment Income1 |
3.191 |
2.912 |
2.831 |
2.809 |
2.781 |
Capital Gain Distributions Received |
.0001,2 |
.0001,2 |
— |
— |
— |
Net Realized and Unrealized Gain (Loss) on
Investments |
(50.248) |
46.898 |
30.848 |
36.236 |
(9.676) |
Total from Investment Operations |
(47.057) |
49.810 |
33.679 |
39.045 |
(6.895) |
Distributions |
|
|
|
|
|
Dividends from Net Investment Income |
(3.183) |
(2.930) |
(2.769) |
(2.905) |
(2.605) |
Distributions from Realized Capital Gains |
— |
— |
— |
— |
— |
Total Distributions |
(3.183) |
(2.930) |
(2.769) |
(2.905) |
(2.605) |
Net Asset Value, End of Period |
$191.25 |
$241.49 |
$194.61 |
$163.70 |
$127.56 |
Total Return |
-19.50% |
25.72% |
20.95% |
30.80% |
-5.13% |
Ratios/Supplemental Data |
|
|
|
|
|
Net Assets, End of Period (Millions) |
$261,084 |
$299,088 |
$202,075 |
$138,067 |
$94,809 |
Ratio of Total Expenses to Average Net Assets |
0.03%3 |
0.03% |
0.03% |
0.03% |
0.03% |
Ratio of Net Investment Income to Average Net
Assets |
1.55% |
1.31% |
1.73% |
1.89% |
1.97% |
Portfolio Turnover Rate4 |
3% |
4% |
8% |
4% |
3% |
|
|
1 |
Calculated based on average shares outstanding. |
2 |
Distribution was less than $.001 per share. |
3 |
The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements
was 0.03%. |
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 December 31, | ||||
For a Share Outstanding Throughout Each Period |
2022 |
2021 |
2020 |
2019 |
2018 |
Net Asset Value, Beginning of Period |
$182.81 |
$164.43 |
$126.02 |
$99.77 |
$111.72 |
Investment Operations |
|
|
|
|
|
Net Investment Income1 |
1.914 |
1.867 |
1.509 |
1.636 |
1.742 |
Net Realized and Unrealized Gain (Loss) on
Investments |
(50.278) |
18.576 |
38.668 |
26.255 |
(12.036) |
Total from Investment Operations |
(48.364) |
20.443 |
40.177 |
27.891 |
(10.294) |
Distributions |
|
|
|
|
|
Dividends from Net Investment Income |
(1.526) |
(2.063) |
(1.767) |
(1.641) |
(1.656) |
Distributions from Realized Capital Gains |
— |
— |
— |
— |
— |
Total Distributions |
(1.526) |
(2.063) |
(1.767) |
(1.641) |
(1.656) |
Net Asset Value, End of Period |
$132.92 |
$182.81 |
$164.43 |
$126.02 |
$99.77 |
Total Return |
-26.46% |
12.44% |
32.20% |
28.04% |
-9.37% |
Ratios/Supplemental Data |
|
|
|
|
|
Net Assets, End of Period (Millions) |
$13,089 |
$17,593 |
$13,761 |
$8,119 |
$6,095 |
Ratio of Total Expenses to Average Net Assets |
0.06%2 |
0.06% |
0.06% |
0.06% |
0.07% |
Ratio of Net Investment Income to Average Net
Assets |
1.31% |
1.02% |
1.20% |
1.40% |
1.50% |
Portfolio Turnover Rate3 |
11% |
19% |
19% |
13% |
10% |
|
|
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 0.06%. |
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 December 31, | ||||
For a Share Outstanding Throughout Each Period |
2022 |
2021 |
2020 |
2019 |
2018 |
Net Asset Value, Beginning of Period |
$220.44 |
$175.80 |
$147.88 |
$114.77 |
$122.49 |
Investment Operations |
|
|
|
|
|
Net Investment Income1 |
2.905 |
2.646 |
2.594 |
2.581 |
2.572 |
Net Realized and Unrealized Gain (Loss) on
Investments |
(46.233) |
44.617 |
27.890 |
33.204 |
(7.896) |
Total from Investment Operations |
(43.328) |
47.263 |
30.484 |
35.785 |
(5.324) |
Distributions |
|
|
|
|
|
Dividends from Net Investment Income |
(2.892) |
(2.623) |
(2.564) |
(2.675) |
(2.396) |
Distributions from Realized Capital Gains |
— |
— |
— |
— |
— |
Total Distributions |
(2.892) |
(2.623) |
(2.564) |
(2.675) |
(2.396) |
Net Asset Value, End of Period |
$174.22 |
$220.44 |
$175.80 |
$147.88 |
$114.77 |
Total Return |
-19.68% |
27.02% |
20.99% |
31.39% |
-4.44% |
Ratios/Supplemental Data |
|
|
|
|
|
Net Assets, End of Period (Millions) |
$24,137 |
$28,242 |
$21,540 |
$16,270 |
$12,358 |
Ratio of Total Expenses to Average Net Assets |
0.04%2 |
0.04% |
0.04% |
0.04% |
0.04% |
Ratio of Net Investment Income to Average Net
Assets |
1.55% |
1.33% |
1.74% |
1.93% |
2.04% |
Portfolio Turnover Rate3 |
3% |
4% |
3% |
5% |
4% |
|
|
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 December 31, | ||||
For a Share Outstanding Throughout Each Period |
2022 |
2021 |
2020 |
2019 |
2018 |
Net Asset Value, Beginning of Period |
$254.69 |
$207.00 |
$178.14 |
$138.08 |
$154.65 |
Investment Operations |
|
|
|
|
|
Net Investment Income1 |
3.302 |
2.741 |
2.772 |
2.663 |
2.535 |
Net Realized and Unrealized Gain (Loss) on
Investments |
(50.886) |
47.811 |
29.084 |
40.043 |
(16.584) |
Total from Investment Operations |
(47.584) |
50.552 |
31.856 |
42.706 |
(14.049) |
Distributions |
|
|
|
|
|
Dividends from Net Investment Income |
(3.266) |
(2.862) |
(2.996) |
(2.646) |
(2.521) |
Distributions from Realized Capital Gains |
— |
— |
— |
— |
— |
Total Distributions |
(3.266) |
(2.862) |
(2.996) |
(2.646) |
(2.521) |
Net Asset Value, End of Period |
$203.84 |
$254.69 |
$207.00 |
$178.14 |
$138.08 |
Total Return |
-18.68% |
24.52% |
18.22% |
31.04% |
-9.21% |
Ratios/Supplemental Data |
|
|
|
|
|
Net Assets, End of Period (Millions) |
$49,861 |
$57,774 |
$41,587 |
$29,014 |
$21,261 |
Ratio of Total Expenses to Average Net Assets |
0.04%2 |
0.04% |
0.04% |
0.04% |
0.04% |
Ratio of Net Investment Income to Average Net
Assets |
1.53% |
1.16% |
1.61% |
1.62% |
1.62% |
Portfolio Turnover Rate3 |
12% |
16% |
26% |
15% |
16% |
|
|
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 December 31, | ||||
For a Share Outstanding Throughout Each Period |
2022 |
2021 |
2020 |
2019 |
2018 |
Net Asset Value, Beginning of Period |
$226.15 |
$194.54 |
$165.64 |
$131.94 |
$147.71 |
Investment Operations |
|
|
|
|
|
Net Investment Income1 |
2.891 |
2.769 |
2.262 |
2.298 |
2.239 |
Net Realized and Unrealized Gain (Loss) on
Investments |
(42.700) |
31.637 |
28.863 |
33.707 |
(15.808) |
Total from Investment Operations |
(39.809) |
34.406 |
31.125 |
36.005 |
(13.569) |
Distributions |
|
|
|
|
|
Dividends from Net Investment Income |
(2.821) |
(2.796) |
(2.225) |
(2.305) |
(2.201) |
Distributions from Realized Capital Gains |
— |
— |
— |
— |
— |
Total Distributions |
(2.821) |
(2.796) |
(2.225) |
(2.305) |
(2.201) |
Net Asset Value, End of Period |
$183.52 |
$226.15 |
$194.54 |
$165.64 |
$131.94 |
Total Return |
-17.60% |
17.72% |
19.08% |
27.37% |
-9.30% |
Ratios/Supplemental Data |
|
|
|
|
|
Net Assets, End of Period (Millions) |
$40,593 |
$50,187 |
$37,492 |
$27,442 |
$20,914 |
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 |
1.49% |
1.25% |
1.47% |
1.49% |
1.46% |
Portfolio Turnover Rate3 |
14% |
17% |
22% |
16% |
15% |
|
|
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 December 31, | ||||
For a Share Outstanding Throughout Each Period |
2022 |
2021 |
2020 |
2019 |
2018 |
Net Asset Value, Beginning of Period |
$147.08 |
$118.98 |
$119.90 |
$97.84 |
$106.14 |
Investment Operations |
|
|
|
|
|
Net Investment Income1 |
3.529 |
3.212 |
3.055 |
3.046 |
2.722 |
Net Realized and Unrealized Gain (Loss) on
Investments |
(6.707) |
28.045 |
(.935) |
22.014 |
(8.352) |
Total from Investment Operations |
(3.178) |
31.257 |
2.120 |
25.060 |
(5.630) |
Distributions |
|
|
|
|
|
Dividends from Net Investment Income |
(3.532) |
(3.157) |
(3.040) |
(3.000) |
(2.670) |
Distributions from Realized Capital Gains |
— |
— |
— |
— |
— |
Total Distributions |
(3.532) |
(3.157) |
(3.040) |
(3.000) |
(2.670) |
Net Asset Value, End of Period |
$140.37 |
$147.08 |
$118.98 |
$119.90 |
$97.84 |
Total Return |
-2.05% |
26.47% |
2.23% |
25.85% |
-5.39% |
Ratios/Supplemental Data |
|
|
|
|
|
Net Assets, End of Period (Millions) |
$99,459 |
$92,776 |
$61,580 |
$55,909 |
$41,510 |
Ratio of Total Expenses to Average Net Assets |
0.04%2 |
0.04% |
0.04% |
0.04% |
0.04% |
Ratio of Net Investment Income to Average Net
Assets |
2.52% |
2.35% |
2.87% |
2.76% |
2.56% |
Portfolio Turnover Rate3 |
5% |
9% |
10% |
12% |
8% |
|
|
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 December 31, | ||||
For a Share Outstanding Throughout Each Period |
2022 |
2021 |
2020 |
2019 |
2018 |
Net Asset Value, Beginning of Period |
$150.26 |
$118.93 |
$119.27 |
$95.22 |
$111.47 |
Investment Operations |
|
|
|
|
|
Net Investment Income1 |
3.091 |
2.744 |
2.7812 |
2.497 |
2.6453 |
Net Realized and Unrealized Gain (Loss) on
Investments |
(14.996) |
31.258 |
(.310) |
23.996 |
(16.278) |
Total from Investment Operations |
(11.905) |
34.002 |
2.471 |
26.493 |
(13.633) |
Distributions |
|
|
|
|
|
Dividends from Net Investment Income |
(3.075) |
(2.672) |
(2.811) |
(2.443) |
(2.617) |
Distributions from Realized Capital Gains |
— |
— |
— |
— |
— |
Total Distributions |
(3.075) |
(2.672) |
(2.811) |
(2.443) |
(2.617) |
Net Asset Value, End of Period |
$135.28 |
$150.26 |
$118.93 |
$119.27 |
$95.22 |
Total Return |
-7.88% |
28.74% |
2.50% |
27.98% |
-12.41% |
Ratios/Supplemental Data |
|
|
|
|
|
Net Assets, End of Period (Millions) |
$15,995 |
$16,086 |
$11,061 |
$10,339 |
$7,898 |
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 |
2.22% |
1.96% |
2.69%2 |
2.26% |
2.41%3 |
Portfolio Turnover Rate5 |
18% |
17% |
39% |
17% |
17% |
|
|
1 |
Calculated based on average shares outstanding. |
2 |
Net investment income per share and the ratio of net investment income to average net assets include $.362 and
0.35%, respectively, resulting from a special dividend from NortonLifeLock Inc. in February 2020. |
3 |
Net investment income per share and the ratio of net investment income to average net assets include $.282 and
0.26%, respectively, resulting from a special dividend from Dr Pepper Snapple Group Inc. in July 2018. |
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 December 31, | ||||
For a Share Outstanding Throughout Each Period |
2022 |
2021 |
2020 |
2019 |
2018 |
Net Asset Value, Beginning of Period |
$178.77 |
$142.13 |
$137.05 |
$114.05 |
$132.71 |
Investment Operations |
|
|
|
|
|
Net Investment Income1 |
3.273 |
3.131 |
2.584 |
2.840 |
2.720 |
Net Realized and Unrealized Gain (Loss) on
Investments |
(19.975) |
36.640 |
4.884 |
22.984 |
(18.702) |
Total from Investment Operations |
(16.702) |
39.771 |
7.468 |
25.824 |
(15.982) |
Distributions |
|
|
|
|
|
Dividends from Net Investment Income |
(3.228) |
(3.131) |
(2.388) |
(2.824) |
(2.678) |
Distributions from Realized Capital Gains |
— |
— |
— |
— |
— |
Total Distributions |
(3.228) |
(3.131) |
(2.388) |
(2.824) |
(2.678) |
Net Asset Value, End of Period |
$158.84 |
$178.77 |
$142.13 |
$137.05 |
$114.05 |
Total Return |
-9.29% |
28.07% |
5.82% |
22.76% |
-12.22% |
Ratios/Supplemental Data |
|
|
|
|
|
Net Assets, End of Period (Millions) |
$23,786 |
$26,854 |
$17,837 |
$14,808 |
$11,560 |
Ratio of Total Expenses to Average Net Assets |
0.07%2 |
0.07% |
0.07% |
0.07% |
0.07% |
Ratio of Net Investment Income to Average Net
Assets |
1.99% |
1.84% |
2.23% |
2.19% |
2.04% |
Portfolio Turnover Rate3 |
13% |
16% |
26% |
19% |
18% |
|
|
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 0.07%. |
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 December 31, | ||||
For a Share Outstanding Throughout Each Period |
2022 |
2021 |
2020 |
2019 |
2018 |
Net Asset Value, Beginning of Period |
$320.83 |
$253.44 |
$182.31 |
$134.21 |
$140.55 |
Investment Operations |
|
|
|
|
|
Net Investment Income1 |
1.584 |
1.483 |
1.683 |
1.773 |
1.807 |
Net Realized and Unrealized Gain (Loss) on
Investments |
(107.775) |
67.447 |
71.131 |
48.065 |
(6.373) |
Total from Investment Operations |
(106.191) |
68.930 |
72.814 |
49.838 |
(4.566) |
Distributions |
|
|
|
|
|
Dividends from Net Investment Income |
(1.499) |
(1.540) |
(1.684) |
(1.738) |
(1.774) |
Distributions from Realized Capital Gains |
— |
— |
— |
— |
— |
Total Distributions |
(1.499) |
(1.540) |
(1.684) |
(1.738) |
(1.774) |
Net Asset Value, End of Period |
$213.14 |
$320.83 |
$253.44 |
$182.31 |
$134.21 |
Total Return |
-33.13% |
27.26% |
40.16% |
37.26% |
-3.32% |
Ratios/Supplemental Data |
|
|
|
|
|
Net Assets, End of Period (Millions) |
$68,198 |
$90,506 |
$68,474 |
$46,481 |
$32,489 |
Ratio of Total Expenses to Average Net Assets |
0.04%2 |
0.04% |
0.04% |
0.04% |
0.04% |
Ratio of Net Investment Income to Average Net
Assets |
0.64% |
0.52% |
0.81% |
1.09% |
1.21% |
Portfolio Turnover Rate3 |
5% |
8% |
6% |
11% |
11% |
|
|
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 December 31, | ||||
For a Share Outstanding Throughout Each Period |
2022 |
2021 |
2020 |
2019 |
2018 |
Net Asset Value, Beginning of Period |
$254.49 |
$212.00 |
$158.76 |
$119.58 |
$127.67 |
Investment Operations |
|
|
|
|
|
Net Investment Income1 |
1.405 |
.870 |
1.074 |
1.386 |
1.016 |
Net Realized and Unrealized Gain (Loss) on
Investments |
(74.767) |
42.479 |
53.347 |
39.040 |
(8.101) |
Total from Investment Operations |
(73.362) |
43.349 |
54.421 |
40.426 |
(7.085) |
Distributions |
|
|
|
|
|
Dividends from Net Investment Income |
(1.398) |
(.859) |
(1.181) |
(1.246) |
(1.005) |
Distributions from Realized Capital Gains |
— |
— |
— |
— |
— |
Total Distributions |
(1.398) |
(.859) |
(1.181) |
(1.246) |
(1.005) |
Net Asset Value, End of Period |
$179.73 |
$254.49 |
$212.00 |
$158.76 |
$119.58 |
Total Return |
-28.84% |
20.47% |
34.46% |
33.86% |
-5.60% |
Ratios/Supplemental Data |
|
|
|
|
|
Net Assets, End of Period (Millions) |
$9,313 |
$12,798 |
$10,164 |
$6,995 |
$4,956 |
Ratio of Total Expenses to Average Net Assets |
0.07%2 |
0.07% |
0.07% |
0.07% |
0.07% |
Ratio of Net Investment Income to Average Net
Assets |
0.72% |
0.37% |
0.63% |
0.95% |
0.76% |
Portfolio Turnover Rate3 |
22% |
25% |
22% |
18% |
25% |
|
|
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 0.07%. |
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 December 31, | ||||
For a Share Outstanding Throughout Each Period |
2022 |
2021 |
2020 |
2019 |
2018 |
Net Asset Value, Beginning of Period |
$281.61 |
$267.36 |
$198.68 |
$150.57 |
$160.81 |
Investment Operations |
|
|
|
|
|
Net Investment Income1 |
1.623 |
1.291 |
1.129 |
1.175 |
1.214 |
Net Realized and Unrealized Gain (Loss) on
Investments |
(81.603) |
13.975 |
68.729 |
48.077 |
(10.263) |
Total from Investment Operations |
(79.980) |
15.266 |
69.858 |
49.252 |
(9.049) |
Distributions |
|
|
|
|
|
Dividends from Net Investment Income |
(1.100) |
(1.016) |
(1.178) |
(1.142) |
(1.191) |
Distributions from Realized Capital Gains |
— |
— |
— |
— |
— |
Total Distributions |
(1.100) |
(1.016) |
(1.178) |
(1.142) |
(1.191) |
Net Asset Value, End of Period |
$200.53 |
$281.61 |
$267.36 |
$198.68 |
$150.57 |
Total Return |
-28.40% |
5.71% |
35.29% |
32.75% |
-5.68% |
Ratios/Supplemental Data |
|
|
|
|
|
Net Assets, End of Period (Millions) |
$12,036 |
$16,379 |
$14,436 |
$9,833 |
$7,286 |
Ratio of Total Expenses to Average Net Assets |
0.07%2 |
0.07% |
0.07% |
0.07% |
0.07% |
Ratio of Net Investment Income to Average Net
Assets |
0.74% |
0.45% |
0.55% |
0.64% |
0.70% |
Portfolio Turnover Rate3 |
24% |
29% |
24% |
18% |
22% |
|
|
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 0.07%. |
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. |
B-1 | |
B-4 | |
B-5 | |
B-22 | |
B-22 | |
B-23 | |
B-48 | |
B-53 | |
B-55 | |
B-55 | |
B-63 | |
B-64 |
|
Share Classes1
| |||||
Vanguard Fund2
|
Investor |
Admiral |
Institutional |
Institutional
Plus |
Institutional
Select |
ETF |
Vanguard Total Stock Market Index Fund |
VTSMX |
VTSAX |
VITSX |
VSMPX |
VSTSX |
VTI3
|
Vanguard 500 Index Fund |
VFINX |
VFIAX |
— |
— |
VFFSX |
VOO3
|
Vanguard Extended Market Index Fund |
VEXMX |
VEXAX |
VIEIX |
VEMPX |
VSEMX |
VXF3
|
Vanguard Large-Cap Index Fund |
VLACX |
VLCAX |
VLISX |
— |
— |
VV3
|
Vanguard Mid-Cap Index Fund |
VIMSX |
VIMAX |
VMCIX |
VMCPX |
— |
VO3
|
Vanguard Small-Cap Index Fund |
NAESX |
VSMAX |
VSCIX |
VSCPX |
— |
VB3
|
Vanguard Value Index Fund |
VIVAX |
VVIAX |
VIVIX |
— |
— |
VTV3
|
Vanguard Mid-Cap Value Index Fund |
VMVIX |
VMVAX |
— |
— |
— |
VOE3
|
Vanguard Small-Cap Value Index Fund |
VISVX |
VSIAX |
VSIIX |
— |
— |
VBR3
|
Vanguard Growth Index Fund |
VIGRX |
VIGAX |
VIGIX |
— |
— |
VUG3
|
Vanguard Mid-Cap Growth Index Fund |
VMGIX |
VMGMX |
— |
— |
— |
VOT3
|
Vanguard Small-Cap Growth Index Fund |
VISGX |
VSGAX |
VSGIX |
— |
— |
VBK3
|
Vanguard Fund |
2020 |
2021 |
2022 |
Vanguard 500 Index Fund |
$— |
$16,125.00 |
$21,500.04 |
Vanguard Extended Market Index Fund |
11,330.30 |
16,999.95 |
16,999.88 |
Vanguard Growth Index Fund |
— |
16,125.02 |
21,500.07 |
Vanguard Large-Cap Index Fund |
— |
16,125.07 |
21,500.07 |
Vanguard Mid-Cap Growth Index Fund |
14,166.61 |
16,999.92 |
16,999.90 |
Vanguard Mid-Cap Index Fund |
14,166.61 |
16,999.92 |
16,999.94 |
Vanguard Mid-Cap Value Index Fund |
14,166.58 |
16,999.97 |
16,999.91 |
Vanguard Small-Cap Growth Index Fund |
14,166.62 |
16,999.90 |
16,999.94 |
Vanguard Small-Cap Index Fund |
14,166.64 |
16,999.88 |
16,999.86 |
Vanguard Small-Cap Value Index Fund |
14,166.61 |
16,999.96 |
16,999.91 |
Vanguard Total Stock Market Index Fund |
11,333.27 |
16,999.94 |
16,999.95 |
Vanguard Value Index Fund |
— |
16,125.06 |
21,500.05 |
Vanguard Fund |
Capital
Contribution
to Vanguard |
Percentage of
Fund’s Average
Net Assets |
Percent of
Vanguard Funds’
Capitalization |
Vanguard Total Stock Market Index Fund |
$44,075,000 |
Less than 0.01% |
17.63% |
Vanguard 500 Index Fund |
28,598,000 |
Less than 0.01 |
11.44 |
Vanguard Extended Market Index Fund |
3,078,000 |
Less than 0.01 |
1.23 |
Vanguard Large-Cap Index Fund |
1,393,000 |
Less than 0.01 |
0.56 |
Vanguard Mid-Cap Index Fund |
5,251,000 |
Less than 0.01 |
2.10 |
Vanguard Small-Cap Index Fund |
4,348,000 |
Less than 0.01 |
1.74 |
Vanguard Value Index Fund |
5,531,000 |
Less than 0.01 |
2.21 |
Vanguard Mid-Cap Value Index Fund |
1,059,000 |
Less than 0.01 |
0.42 |
Vanguard Small-Cap Value Index Fund |
1,779,000 |
Less than 0.01 |
0.71 |
Vanguard Growth Index Fund |
5,229,000 |
Less than 0.01 |
2.09 |
Vanguard Mid-Cap Growth Index Fund |
718,000 |
Less than 0.01 |
0.29 |
Vanguard Small-Cap Growth Index Fund |
1,022,000 |
Less than 0.01 |
0.41 |
Annual Shared Fund Operating Expenses
(Shared Expenses Deducted From Fund Assets) | |||
Vanguard Fund |
2020 |
2021 |
2022 |
Vanguard 500 Index Fund |
|
|
|
Management and Administrative Expenses |
0.03% |
0.03% |
0.03% |
Marketing and Distribution Expenses |
Less than 0.01 |
Less than 0.01 |
Less than 0.01 |
Vanguard Extended Market Index Fund |
|
|
|
Management and Administrative Expenses |
0.04% |
0.04% |
0.04% |
Marketing and Distribution Expenses |
Less than 0.01 |
Less than 0.01 |
Less than 0.01 |
Vanguard Growth Index Fund |
|
|
|
Management and Administrative Expenses |
0.04% |
0.04% |
0.04% |
Marketing and Distribution Expenses |
Less than 0.01 |
Less than 0.01 |
Less than 0.01 |
Vanguard Large-Cap Index Fund |
|
|
|
Management and Administrative Expenses |
0.04% |
0.03% |
0.03% |
Marketing and Distribution Expenses |
Less than 0.01 |
Less than 0.01 |
Less than 0.01 |
Vanguard Mid-Cap Growth Index Fund |
|
|
|
Management and Administrative Expenses |
0.06% |
0.05% |
0.06% |
Marketing and Distribution Expenses |
Less than 0.01 |
Less than 0.01 |
Less than 0.01 |
Vanguard Mid-Cap Index Fund |
|
|
|
Management and Administrative Expenses |
0.03% |
0.04% |
0.04% |
Marketing and Distribution Expenses |
Less than 0.01 |
0.01 |
Less than 0.01 |
Vanguard Mid-Cap Value Index Fund |
|
|
|
Management and Administrative Expenses |
0.06% |
0.05% |
0.06% |
Marketing and Distribution Expenses |
Less than 0.01 |
Less than 0.01 |
Less than 0.01 |
Vanguard Small-Cap Growth Index Fund |
|
|
|
Management and Administrative Expenses |
0.06% |
0.05% |
0.06% |
Marketing and Distribution Expenses |
Less than 0.01 |
Less than 0.01 |
Less than 0.01 |
Vanguard Small-Cap Index Fund |
|
|
|
Management and Administrative Expenses |
0.04% |
0.04% |
0.04% |
Marketing and Distribution Expenses |
Less than 0.01 |
Less than 0.01 |
Less than 0.01 |
Vanguard Small-Cap Value Index Fund |
|
|
|
Management and Administrative Expenses |
0.06% |
0.06% |
0.06% |
Marketing and Distribution Expenses |
Less than 0.01 |
Less than 0.01 |
Less than 0.01 |
Vanguard Total Stock Market Index Fund |
|
|
|
Management and Administrative Expenses |
0.04% |
0.04% |
0.03% |
Marketing and Distribution Expenses |
Less than 0.01 |
Less than 0.01 |
Less than 0.01 |
Vanguard Value Index Fund |
|
|
|
Management and Administrative Expenses |
0.04% |
0.03% |
0.03% |
Marketing and Distribution Expenses |
Less than 0.01 |
Less than 0.01 |
Less than 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. |
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 |
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, the University of California,
Berkeley School of Engineering, and Santa Clara
University’s School of Business. |
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. (global industrial company). 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 |
Scott C. Malpass
(1962) |
Trustee |
March 2012 |
Chief investment officer and vice president of the
University of Notre Dame (retired 2020). Chair of the
board of Catholic Investment Services, Inc.
(investment advisors). Member of the board of
superintendence of the Institute for the Works of
Religion. Member of the Notre Dame 403(b)
Investment Committee 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. Director of DuPont.
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 |
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 |
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 partner of
HighVista Strategies LLC (private investment firm).
Board member of RIT Capital Partners (investment
firm). |
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, Duke Law School (2021–present);
Rubenstein Fellow, Duke University (2017–2020);
Distinguished Fellow of the Global Financial Markets
Center, Duke Law School (2020–2022); and Senior
Fellow, Duke Center on Risk (2020–present). Partner of
Kaya Corporation Ltd. (climate policy advisory
services). Member of the board of directors of Arcadia
Corporation (energy solution technology). |
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.
Trustee of Common Fund. |
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 |
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 |
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 |
Jodi Miller
(1980) |
Finance Director |
September
2022 |
Principal of Vanguard. Finance director (2022–present)
of each of the investment companies served by
Vanguard. Head of Enterprise Investment Services
(2020–present), Head of Retail Client Services &
Operations (2020–2022), and Head of Retail Strategic
Support (2018–2020) 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 |
Total Compensation
From All Vanguard
Funds Paid to Trustees2 |
Mortimer J. Buckley |
— |
— |
Tara Bunch |
$98,754 |
$330,000 |
Emerson U. Fullwood |
98,754 |
330,000 |
F. Joseph Loughrey |
104,739 |
350,000 |
Mark Loughridge |
119,705 |
400,000 |
Scott C. Malpass |
98,754 |
330,000 |
Deanna Mulligan |
98,754 |
330,000 |
André F. Perold |
98,754 |
330,000 |
Sarah Bloom Raskin |
104,739 |
350,000 |
David Thomas |
98,754 |
330,000 |
Peter F. Volanakis |
104,739 |
350,000 |
Vanguard Fund |
Trustee |
Dollar Range of
Fund Shares
Owned by Trustee |
Aggregate Dollar Range
of Vanguard Fund Shares
Owned by Trustee |
Vanguard 500 Index Fund |
Mortimer J. Buckley |
— |
Over $100,000 |
|
Tara Bunch |
— |
Over $100,000 |
|
Emerson U. Fullwood |
Over $100,000 |
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 Thomas |
— |
Over $100,000 |
|
Peter F. Volanakis |
Over $100,000 |
Over $100,000 |
|
|
|
|
Vanguard Extended Market Index Fund |
Mortimer J. Buckley |
Over $100,000 |
Over $100,000 |
|
Tara Bunch |
— |
Over $100,000 |
|
Emerson U. Fullwood |
Over $100,000 |
Over $100,000 |
|
F. Joseph Loughrey |
Over $100,000 |
Over $100,000 |
|
Mark Loughridge |
Over $100,000 |
Over $100,000 |
|
Scott C. Malpass |
Over $100,000 |
Over $100,000 |
|
Deanna Mulligan |
Over $100,000 |
Over $100,000 |
|
André F. Perold |
— |
Over $100,000 |
|
Sarah Bloom Raskin |
— |
Over $100,000 |
|
David Thomas |
— |
Over $100,000 |
|
Peter F. Volanakis |
— |
Over $100,000 |
|
|
|
|
Vanguard Growth Index Fund |
Mortimer J. Buckley |
Over $100,000 |
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 |
$10,001 – $50,000 |
Over $100,000 |
|
David Thomas |
— |
Over $100,000 |
|
Peter F. Volanakis |
$10,001 – $50,000 |
Over $100,000 |
|
|
|
|
Vanguard Large-Cap 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 |
Over $100,000 |
|
Deanna Mulligan |
— |
Over $100,000 |
|
André F. Perold |
— |
Over $100,000 |
|
Sarah Bloom Raskin |
$10,001 – $50,000 |
Over $100,000 |
|
David 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 Mid-Cap 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 Thomas |
— |
Over $100,000 |
|
Peter F. Volanakis |
Over $100,000 |
Over $100,000 |
|
|
|
|
Vanguard Mid-Cap 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 |
Over $100,000 |
|
David Thomas |
— |
Over $100,000 |
|
Peter F. Volanakis |
$50,001 – $100,000 |
Over $100,000 |
|
|
|
|
Vanguard Mid-Cap 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 Thomas |
— |
Over $100,000 |
|
Peter F. Volanakis |
— |
Over $100,000 |
|
|
|
|
Vanguard Small-Cap Growth Index Fund |
Mortimer J. Buckley |
— |
Over $100,000 |
|
Tara Bunch |
— |
Over $100,000 |
|
Emerson U. Fullwood |
$10,001 – $50,000 |
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 Thomas |
— |
Over $100,000 |
|
Peter F. Volanakis |
Over $100,000 |
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 Small-Cap Index Fund |
Mortimer J. Buckley |
— |
Over $100,000 |
|
Tara Bunch |
— |
Over $100,000 |
|
Emerson U. Fullwood |
Over $100,000 |
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 |
$10,001 – $50,000 |
Over $100,000 |
|
David Thomas |
— |
Over $100,000 |
|
Peter F. Volanakis |
— |
Over $100,000 |
|
|
|
|
Vanguard Small-Cap 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 Thomas |
— |
Over $100,000 |
|
Peter F. Volanakis |
— |
Over $100,000 |
|
|
|
|
Vanguard Total Stock Market Index Fund |
Mortimer J. Buckley |
Over $100,000 |
Over $100,000 |
|
Tara Bunch |
— |
Over $100,000 |
|
Emerson U. Fullwood |
Over $100,000 |
Over $100,000 |
|
F. Joseph Loughrey |
Over $100,000 |
Over $100,000 |
|
Mark Loughridge |
Over $100,000 |
Over $100,000 |
|
Scott C. Malpass |
Over $100,000 |
Over $100,000 |
|
Deanna Mulligan |
Over $100,000 |
Over $100,000 |
|
André F. Perold |
— |
Over $100,000 |
|
Sarah Bloom Raskin |
Over $100,000 |
Over $100,000 |
|
David Thomas |
— |
Over $100,000 |
|
Peter F. Volanakis |
Over $100,000 |
Over $100,000 |
|
|
|
|
Vanguard 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 |
Over $100,000 |
|
Scott C. Malpass |
— |
Over $100,000 |
|
Deanna Mulligan |
— |
Over $100,000 |
|
André F. Perold |
— |
Over $100,000 |
|
Sarah Bloom Raskin |
$10,001 – $50,000 |
Over $100,000 |
|
David Thomas |
— |
Over $100,000 |
|
Peter F. Volanakis |
Over $100,000 |
Over $100,000 |
Vanguard Fund |
Share Class |
Owner and Address |
Percentage
of Ownership |
Vanguard 500 Index Fund |
Investor Shares |
ASCENSUS TRUST COMPANY FARGO,
ND |
17.37% |
|
Admiral Shares |
CHARLES SCHWAB & CO INC SAN
FRANCISCO, CA |
7.46% |
|
|
NATIONAL FINANCIAL SERVICES
CORP JERSEY CITY, NJ |
5.05% |
|
Institutional Select Shares |
VANGUARD INSTITUTIONAL 500
INDEX TRUST 2040 VALLEY FORGE, PA |
99.83% |
Vanguard Extended Market Index Fund |
Investor Shares |
GRIFFON CORPORATION JERICHO, NY |
5.87% |
|
|
SIERRA PACIFIC INDUSTRIES
EMPLOYEES' RETIREMENT PLAN
REDDING, CA |
8.49% |
|
Admiral Shares |
CHARLES SCHWAB & CO INC SAN
FRANCISCO, CA |
5.99% |
|
Institutional Shares |
CHARLES SCHWAB & CO INC SAN
FRANCISCO, CA |
7.78% |
|
|
FIDELITY INVESTMENTS
INSTITUTIONAL OPERATIONS CO INC
COVINGTON, KY |
14.59% |
|
|
TIAA, FSB SAINT LOUIS, MO |
15.37% |
|
Institutional Select Shares |
VANGUARD INSTITUTIONAL
EXTENDED MARKET INDEX TRUST
1998 VALLEY FORGE, PA |
99.73% |
|
Institutional Plus Shares |
FIDELITY INVESTMENTS
INSTITUTIONAL OPERATIONS CO INC
COVINGTON, KY |
27.14% |
|
|
STATE STREET BANK TRUST
TRANSAMERICA RETIREMENT
SOLUTIONS CORPORATION
HARRISON, NY |
9.86% |
|
|
TIAA, FSB SAINT LOUIS, MO |
18.08% |
Vanguard Growth Index Fund |
Investor Shares |
ASCENSUS TRUST COMPANY FARGO,
ND |
52.04% |
|
Admiral Shares |
CHARLES SCHWAB & CO INC SAN
FRANCISCO, CA |
6.63% |
|
|
NATIONAL FINANCIAL SERVICES
CORP JERSEY CITY, NJ |
6.91% |
|
Institutional Shares |
CHARLES SCHWAB & CO INC SAN
FRANCISCO, CA |
12.84% |
|
|
FIDELITY INVESTMENTS
INSTITUTIONAL OPERATIONS CO INC
COVINGTON, KY |
11.88% |
|
|
NEW YORK COLLEGE SAVINGS
PROGRAM NEWTON, MA |
12.93% |
Vanguard Fund |
Share Class |
Owner and Address |
Percentage
of Ownership |
Vanguard Large-Cap Index Fund |
Investor Shares |
ASCENSUS TRUST COMPANY FARGO,
ND |
30.40% |
|
|
BRIGHTSPHERE INC. PROFIT SHARING
AND 401(K) PLAN BOSTON, MA |
6.35% |
|
|
EAGLE CORPORATION EMPLOYEES
FLEXIBLE COMPENSATION PLAN
CHARLOTTESVILLE, VA |
17.89% |
|
|
MINIAT HOLDINGS LLC EMPLOYEES'
PROFIT SHARING PLAN AND TRUST
SOUTH HOLLAND, IL |
6.51% |
|
|
QRM 401(K) RETIREMENT SAVINGS
PLAN CHICAGO, IL |
13.16% |
|
|
UNIVERSITY OF MINNESOTA
OPTIONAL RETIREMENT PLAN
MINNEAPOLIS, MN |
10.71% |
|
Institutional Shares |
CHARLES SCHWAB & CO INC SAN
FRANCISCO, CA |
9.02% |
|
|
EDWARD D. JONES & CO. PROFIT
PRUDENTIAL INVESTMENT
MANAGEMENT SVCS LLC, CUST
SAINT LOUIS, MO |
9.32% |
|
|
MAC & CO A/C 866757 PITTSBURGH,
PA |
5.67% |
|
|
PERSHING LLC JERSEY CITY, NJ |
5.68% |
|
|
PLUMBERS LOCAL UNION NO. 1
JOINT PLUMBING INDUSTRY BOARD
PRUDENTIAL INVESTMENT
MANAGEMENT SVCS LLC, CUST
LONG ISLAND CITY, NY |
5.94% |
|
|
SEI TRUST COMPANY OAKS, PA |
8.57% |
|
Admiral Shares |
CHARLES SCHWAB & CO INC SAN
FRANCISCO, CA |
11.27% |
|
|
NATIONAL FINANCIAL SERVICES
CORP JERSEY CITY, NJ |
8.63% |
Vanguard Mid-Cap Growth Index Fund |
Investor Shares |
ASCENSUS TRUST COMPANY FARGO,
ND |
73.62% |
|
|
GEORGETOWN UNIVERSITY
RETIREMENT PLAN WASHINGTON, DC |
9.87% |
|
Admiral Shares |
CHARLES SCHWAB & CO INC SAN
FRANCISCO, CA |
10.75% |
Vanguard Fund |
Share Class |
Owner and Address |
Percentage
of Ownership |
Vanguard Mid-Cap Index Fund |
Investor Shares |
ASCENSUS TRUST COMPANY FARGO,
ND |
27.27% |
|
Institutional Shares |
CHARLES SCHWAB & CO INC SAN
FRANCISCO, CA |
8.88% |
|
|
FIDELITY INVESTMENTS
INSTITUTIONAL OPERATIONS CO INC
COVINGTON, KY |
13.69% |
|
Admiral Shares |
CHARLES SCHWAB & CO INC SAN
FRANCISCO, CA |
8.21% |
|
|
NATIONAL FINANCIAL SERVICES
CORP JERSEY CITY, NJ |
5.31% |
|
Institutional Plus Shares |
FIDELITY INVESTMENTS
INSTITUTIONAL OPERATIONS CO INC
COVINGTON, KY |
20.68% |
|
|
MAC & CO 401K PLAN AND THE
EMPLOYEE STOCK OWNER A/C
489031 PITTSBURGH, PA |
14.88% |
|
|
NEW YORK COLLEGE SAVINGS
PROGRAM NEWTON, MA |
9.14% |
|
|
NORTHERN TRUST COMPANY FBO
ACCENTURE-DV CHICAGO, IL |
7.32% |
Vanguard Mid-Cap Value Index Fund |
Investor Shares |
ASCENSUS TRUST COMPANY FARGO,
ND |
85.66% |
|
Admiral Shares |
CHARLES SCHWAB & CO INC SAN
FRANCISCO, CA |
14.75% |
|
|
FIDELITY INVESTMENTS
INSTITUTIONAL OPERATIONS CO INC
COVINGTON, KY |
5.35% |
|
|
NATIONAL FINANCIAL SERVICES
CORP JERSEY CITY, NJ |
7.01% |
Vanguard Small-Cap Growth Index Fund |
Investor Shares |
ASCENSUS TRUST COMPANY FARGO,
ND |
54.64% |
|
|
IPR PHARMACEUTICALS PROFIT
SHARING, RETIREMENT & SAVINGS
PLAN CANOVANAS, PR |
6.72% |
|
Institutional Shares |
CHARLES SCHWAB & CO INC SAN
FRANCISCO, CA |
17.11% |
|
|
FIDELITY INVESTMENTS
INSTITUTIONAL OPERATIONS CO INC
COVINGTON, KY |
13.46% |
|
|
TIAA, FSB SAINT LOUIS, MO |
5.23% |
|
Admiral Shares |
CHARLES SCHWAB & CO INC SAN
FRANCISCO, CA |
8.53% |
|
|
NATIONAL FINANCIAL SERVICES
CORP JERSEY CITY, NJ |
5.28% |
Vanguard Fund |
Share Class |
Owner and Address |
Percentage
of Ownership |
Vanguard Small-Cap Index Fund |
Investor Shares |
ASCENSUS TRUST COMPANY FARGO,
ND |
25.97% |
|
Admiral Shares |
CHARLES SCHWAB & CO INC SAN
FRANCISCO, CA |
9.59% |
|
|
NATIONAL FINANCIAL SERVICES
CORP JERSEY CITY, NJ |
5.83% |
|
Institutional Shares |
CHARLES SCHWAB & CO INC SAN
FRANCISCO, CA |
8.70% |
|
|
FIDELITY INVESTMENTS
INSTITUTIONAL OPERATIONS CO INC
COVINGTON, KY |
14.63% |
|
|
TIAA, FSB SAINT LOUIS, MO |
7.08% |
|
Institutional Plus Shares |
COLLEGE SAVINGS PLAN OF NEVADA
BOSTON, MA |
6.87% |
|
|
FIDELITY INVESTMENTS
INSTITUTIONAL OPERATIONS CO INC
COVINGTON, KY |
22.40% |
|
|
MAC & CO 401K PLAN AND THE
EMPLOYEE STOCK OWNER A/C
489032 PITTSBURGH, PA |
10.29% |
|
|
NEW YORK COLLEGE SAVINGS PLAN
NEWTON CENTER, MA |
11.38% |
|
|
NORTHERN TRUST COMPANY FBO
ACCENTURE-DV CHICAGO, IL |
7.64% |
Vanguard Small-Cap Value Index Fund |
Investor Shares |
ASCENSUS TRUST COMPANY FARGO,
ND |
32.47% |
|
|
IMPERIAL IRRIGATION DISTRICT
401(A) RETIREMENT PLAN EL
CENTRO, CA |
6.51% |
|
Institutional Shares |
CHARLES SCHWAB & CO INC SAN
FRANCISCO, CA |
16.11% |
|
|
FIDELITY INVESTMENTS
INSTITUTIONAL OPERATIONS CO INC
COVINGTON, KY |
17.67% |
|
|
NATIONAL FINANCIAL SERVICES
CORP JERSEY CITY, NJ |
8.86% |
|
|
TD AMERITRADE INC OMAHA, NE |
6.19% |
|
|
TIAA, FSB SAINT LOUIS, MO |
8.84% |
|
Admiral Shares |
CHARLES SCHWAB & CO INC SAN
FRANCISCO, CA |
9.74% |
|
|
NATIONAL FINANCIAL SERVICES
CORP JERSEY CITY, NJ |
6.67% |
Vanguard Fund |
Share Class |
Owner and Address |
Percentage
of Ownership |
Vanguard Total Stock Market Index Fund |
Investor Shares |
VANGUARD LIFE STRATEGY
CONSERVATIVE GROWTH FUND
VALLEY FORGE, PA |
12.38% |
|
|
VANGUARD LIFE STRATEGY GROWTH
FUND VALLEY FORGE, PA |
45.77% |
|
|
VANGUARD LIFE STRATEGY
MODERATE GROWTH FUND VALLEY
FORGE, PA |
34.54% |
|
Institutional Shares |
CHARLES SCHWAB & CO INC SAN
FRANCISCO, CA |
5.25% |
|
|
NATIONAL FINANCIAL SERVICES
CORP JERSEY CITY, NJ |
8.47% |
|
Institutional Select Shares |
NEW YORK COLLEGE SAVINGS PLAN
NEWTON CENTER, MA |
6.42% |
|
|
VANGUARD INSTITUTIONAL TOTAL
STOCK MARKET INDEX TRUST 1885
VALLEY FORGE, PA |
53.07% |
|
Institutional Plus Shares |
VANGUARD TARGET RETIREMENT
2030 FUND VALLEY FORGE, PA |
5.71% |
|
|
VANGUARD TARGET RETIREMENT
2030 TRUST VALLEY FORGE, PA |
5.98% |
|
|
VANGUARD TARGET RETIREMENT
2035 FUND VALLEY FORGE, PA |
6.29% |
|
|
VANGUARD TARGET RETIREMENT
2035 TRUST VALLEY FORGE, PA |
6.68% |
|
|
VANGUARD TARGET RETIREMENT
2040 FUND VALLEY FORGE, PA |
6.07% |
|
|
VANGUARD TARGET RETIREMENT
2040 TRUST VALLEY FORGE, PA |
6.65% |
|
|
VANGUARD TARGET RETIREMENT
2045 FUND VALLEY FORGE, PA |
6.28% |
|
|
VANGUARD TARGET RETIREMENT
2045 TRUST VALLEY FORGE, PA |
7.04% |
|
|
VANGUARD TARGET RETIREMENT
2050 FUND VALLEY FORGE, PA |
5.35% |
|
|
VANGUARD TARGET RETIREMENT
2050 TRUST VALLEY FORGE, PA |
6.36% |
Vanguard Value Index Fund |
Investor Shares |
ASCENSUS TRUST COMPANY FARGO,
ND |
37.61% |
|
|
VANGUARD MANAGED ALLOCATION
FUND VALLEY FORGE, PA |
28.15% |
|
Admiral Shares |
CHARLES SCHWAB & CO INC SAN
FRANCISCO, CA |
8.47% |
|
|
NATIONAL FINANCIAL SERVICES
CORP JERSEY CITY, NJ |
8.01% |
|
Institutional Shares |
CHARLES SCHWAB & CO INC SAN
FRANCISCO, CA |
12.63% |
|
|
FIDELITY INVESTMENTS
INSTITUTIONAL OPERATIONS CO INC
COVINGTON, KY |
21.03% |
|
|
NEW YORK COLLEGE SAVINGS
PROGRAM NEWTON, MA |
11.89% |
|
|
TIAA, FSB SAINT LOUIS, MO |
5.72% |
Vanguard Fund |
Owner |
Percentage
of Ownership |
Vanguard Extended Market ETF |
Charles Schwab & Co., Inc. |
11.12% |
|
National Financial Services, LLC |
14.08% |
|
Vanguard Marketing Corporation |
32.83% |
Vanguard Growth ETF |
Charles Schwab & Co., Inc. |
12.59% |
|
Edward D. Jones & Co. |
8.37% |
|
Merill Lynch, Pierce, Fenner & Smith Inc. |
15.66% |
|
Morgan Stanley DW, Inc. |
5.50% |
|
National Financial Services, LLC |
14.06% |
|
TD Ameritrade Clearing, Inc. |
9.18% |
|
Vanguard Marketing Corporation |
6.27% |
Vanguard Large-Cap ETF |
Charles Schwab & Co., Inc. |
20.11% |
|
Edward D. Jones & Co. |
14.34% |
|
National Financial Services, LLC |
10.57% |
|
Pershing, LLC |
5.42% |
|
TD Ameritrade Clearing, Inc. |
10.20% |
|
Vanguard Marketing Corporation |
5.54% |
Vanguard Mid-Cap ETF |
Charles Schwab & Co., Inc. |
12.62% |
|
Edward D. Jones & Co. |
5.36% |
|
First Clearing, LLC |
8.67% |
|
National Financial Services, LLC |
9.85% |
|
TD Ameritrade Clearing, Inc. |
7.59% |
|
UBS Financial Services, LLC |
5.43% |
|
Vanguard Marketing Corporation |
5.47% |
|
Wells Fargo Bank, N.A. |
5.31% |
Vanguard Mid-Cap Growth ETF |
Charles Schwab & Co., Inc. |
15.18% |
|
Morgan Stanley DW, Inc. |
6.15% |
|
National Financial Services, LLC |
22.05% |
|
Pershing, LLC |
5.08% |
|
TD Ameritrade Clearing, Inc. |
6.58% |
|
Vanguard Marketing Corporation |
7.86% |
Vanguard Mid-Cap Value ETF |
Charles Schwab & Co., Inc. |
15.94% |
|
Edward D. Jones & Co. |
5.37% |
|
Morgan Stanley DW, Inc. |
5.74% |
|
National Financial Services, LLC |
17.42% |
|
Pershing, LLC |
5.10% |
|
Ridge Clearing & Outsourcing Solutions, Inc. |
8.87% |
|
TD Ameritrade Clearing, Inc. |
8.03% |
|
Vanguard Marketing Corporation |
5.07% |
Vanguard S&P 500 ETF |
Charles Schwab & Co., Inc. |
11.90% |
|
National Financial Services, LLC |
11.47% |
|
TD Ameritrade Clearing, Inc. |
5.00% |
|
Vanguard Marketing Corporation |
12.70% |
Vanguard Small-Cap ETF |
Charles Schwab & Co., Inc. |
19.40% |
|
Edward D. Jones & Co. |
5.39% |
|
Merill Lynch, Pierce, Fenner & Smith Inc. |
6.97% |
|
National Financial Services, LLC |
11.51% |
|
TD Ameritrade Clearing, Inc. |
7.06% |
|
Vanguard Marketing Corporation |
6.48% |
Vanguard Fund |
Owner |
Percentage
of Ownership |
Vanguard Small-Cap Growth ETF |
Charles Schwab & Co., Inc. |
20.51% |
|
Edward D. Jones & Co. |
6.89% |
|
Merill Lynch, Pierce, Fenner & Smith Inc. |
10.06% |
|
National Financial Services, LLC |
15.57% |
|
TD Ameritrade Clearing, Inc. |
6.99% |
|
Vanguard Marketing Corporation |
8.21% |
Vanguard Small-Cap Value ETF |
Charles Schwab & Co., Inc. |
20.32% |
|
Merill Lynch, Pierce, Fenner & Smith Inc. |
8.11% |
|
National Financial Services, LLC |
15.54% |
|
Ridge Clearing & Outsourcing Solutions, Inc. |
5.38% |
|
TD Ameritrade Clearing, Inc. |
8.85% |
|
Vanguard Marketing Corporation |
6.64% |
Vanguard Total Stock Market ETF |
Charles Schwab & Co., Inc. |
12.75% |
|
National Financial Services, LLC |
11.49% |
|
TD Ameritrade Clearing, Inc. |
5.95% |
|
Vanguard Marketing Corporation |
29.25% |
Vanguard Value ETF |
Charles Schwab & Co., Inc. |
11.27% |
|
Edward D. Jones & Co. |
9.36% |
|
Merill Lynch, Pierce, Fenner & Smith Inc. |
14.74% |
|
Morgan Stanley DW, Inc. |
5.33% |
|
National Financial Services, LLC |
12.34% |
|
TD Ameritrade Clearing, Inc. |
5.24% |
Vanguard Fund |
Owner |
Percentage
of Ownership |
Vanguard Extended Market Index Fund |
VANGUARD INSTITUTIONAL EXTENDED MARKET INDEX
TRUST 1998 VALLEY FORGE, PA |
28.43% |
Vanguard Fund |
2020 |
2021 |
2022 |
Vanguard Total Stock Market Index Fund |
$16,106,000 |
$19,467,000 |
$23,150,000 |
Vanguard 500 Index Fund |
10,341,000 |
12,702,000 |
10,553,000 |
Vanguard Extended Market Index Fund |
2,917,000 |
3,801,000 |
1,993,000 |
Vanguard Large-Cap Index Fund |
2,209,000 |
2,796,000 |
1,223,000 |
Vanguard Mid-Cap Index Fund |
3,509,000 |
4,391,000 |
2,547,000 |
Vanguard Small-Cap Index Fund |
3,200,000 |
4,133,000 |
2,241,000 |
Vanguard Value Index Fund |
3,087,000 |
3,974,000 |
2,685,000 |
Vanguard Mid-Cap Value Index Fund |
2,072,000 |
2,637,000 |
1,098,000 |
Vanguard Small-Cap Value Index Fund |
2,226,000 |
2,919,000 |
1,357,000 |
Vanguard Growth Index Fund |
3,621,000 |
4,562,000 |
2,607,000 |
Vanguard Mid-Cap Growth Index Fund |
2,023,000 |
2,596,000 |
985,000 |
Vanguard Small-Cap Growth Index Fund |
2,191,000 |
2,787,000 |
1,095,000 |
Portfolio Manager |
|
No. of
accounts |
Total assets |
No. of accounts with
performance-based
fees |
Total assets in
accounts with
performance-based
fees |
Donald M. Butler |
Registered investment companies1,3,4 |
14
|
$1.27T |
0 |
$0 |
|
Other pooled investment vehicles |
1
|
$2B
|
0 |
$0 |
|
Other accounts |
0 |
$0 |
0 |
$0 |
Michelle Louie10 |
Registered investment companies2 |
15
|
$1.51T |
0 |
$0 |
|
Other pooled investment vehicles |
0
|
$0
|
0 |
$0 |
|
Other accounts |
0 |
$0 |
0 |
$0 |
Gerard C. O’Reilly |
Registered investment companies3,6,7 |
18
|
$1.94T |
0 |
$0 |
|
Other pooled investment vehicles |
0
|
$0
|
0 |
$0 |
|
Other accounts |
0 |
$0 |
0 |
$0 |
Walter Nejman |
Registered investment companies5,6 |
40
|
$2.36T |
0 |
$0 |
|
Other pooled investment vehicles |
12
|
$109B
|
0 |
$0 |
|
Other accounts |
0 |
$0 |
0 |
$0 |
Awais Khan |
Registered investment companies4 |
13
|
$237B
|
0 |
$0 |
|
Other pooled investment vehicles |
0
|
$0
|
0 |
$0 |
|
Other accounts |
0 |
$0 |
0 |
$0 |
Nicholas Birkett8 |
Registered investment companies7 |
16 |
$258B |
0 |
$0 |
|
Other pooled investment vehicles |
4 |
$10B |
0 |
$0 |
|
Other accounts |
0 |
$0 |
0 |
$0 |
Kenny Narzikul9 |
Registered investment companies3 |
12 |
$143B |
0 |
$0 |
|
Other pooled investment vehicles |
2 |
$2B |
0 |
$0 |
|
Other accounts |
0 |
$0 |
0 |
$0 |
Aurélie Denis11
|
Registered investment companies4
|
28 |
$861B |
0 |
$0 |
|
Other pooled investment vehicles |
14 |
$116B |
0 |
$0 |
|
Other accounts |
0 |
$0 |
0 |
$0 |
Vanguard Fund |
Securities Lending Activities |
Vanguard 500 Index Fund |
|
Gross income from securities lending activities |
$3,686,233 |
Fees paid to securities lending agent from a revenue split |
$0 |
Vanguard Fund |
Securities Lending Activities |
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 |
$4,480 |
Administrative fees not included in revenue split |
$55,375 |
Indemnification fee not included in revenue split |
$0 |
Rebate (paid to borrower) |
$563,118 |
Other fees not included in revenue split (specify) |
$0 |
Aggregate fees/compensation for securities lending activities |
$622,973 |
Net income from securities lending activities |
$3,063,260 |
Vanguard Extended Market Index Fund |
|
Gross income from securities lending activities |
$132,302,613 |
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 |
$86,041 |
Administrative fees not included in revenue split |
$2,476,326 |
Indemnification fee not included in revenue split |
$0 |
Rebate (paid to borrower) |
$2,863,754 |
Other fees not included in revenue split (specify) |
$0 |
Aggregate fees/compensation for securities lending activities |
$5,426,121 |
Net income from securities lending activities |
$126,876,492 |
Vanguard Growth Index Fund |
|
Gross income from securities lending activities |
$7,118,502 |
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 |
$8,928 |
Administrative fees not included in revenue split |
$134,280 |
Indemnification fee not included in revenue split |
$0 |
Rebate (paid to borrower) |
$348,606 |
Other fees not included in revenue split (specify) |
$0 |
Aggregate fees/compensation for securities lending activities |
$491,814 |
Net income from securities lending activities |
$6,626,688 |
Vanguard Large-Cap Index Fund |
|
Gross income from securities lending activities |
$2,168,177 |
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 |
$1,706 |
Administrative fees not included in revenue split |
$39,031 |
Indemnification fee not included in revenue split |
$0 |
Rebate (paid to borrower) |
$47,018 |
Other fees not included in revenue split (specify) |
$0 |
Aggregate fees/compensation for securities lending activities |
$87,755 |
Net income from securities lending activities |
$2,080,422 |
Vanguard Mid-Cap Growth Index Fund |
|
Gross income from securities lending activities |
$3,722,293 |
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 |
$4,646 |
Administrative fees not included in revenue split |
$65,893 |
Indemnification fee not included in revenue split |
$0 |
Rebate (paid to borrower) |
$279,373 |
Other fees not included in revenue split (specify) |
$0 |
Aggregate fees/compensation for securities lending activities |
$349,912 |
Net income from securities lending activities |
$3,372,381 |
Vanguard Fund |
Securities Lending Activities |
Vanguard Mid-Cap Index Fund |
|
Gross income from securities lending activities |
$34,727,246 |
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 |
$34,802 |
Administrative fees not included in revenue split |
$596,119 |
Indemnification fee not included in revenue split |
$0 |
Rebate (paid to borrower) |
$1,218,910 |
Other fees not included in revenue split (specify) |
$0 |
Aggregate fees/compensation for securities lending activities |
$1,849,831 |
Net income from securities lending activities |
$32,877,415 |
Vanguard Mid-Cap Value Index Fund |
|
Gross income from securities lending activities |
$8,185,719 |
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 |
$5,958 |
Administrative fees not included in revenue split |
$138,321 |
Indemnification fee not included in revenue split |
$0 |
Rebate (paid to borrower) |
$13,983 |
Other fees not included in revenue split (specify) |
$0 |
Aggregate fees/compensation for securities lending activities |
$158,262 |
Net income from securities lending activities |
$8,027,457 |
Vanguard Small-Cap Growth Index Fund |
|
Gross income from securities lending activities |
$33,079,666 |
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 |
$30,103 |
Administrative fees not included in revenue split |
$547,881 |
Indemnification fee not included in revenue split |
$0 |
Rebate (paid to borrower) |
$1,260,530 |
Other fees not included in revenue split (specify) |
$0 |
Aggregate fees/compensation for securities lending activities |
$1,838,514 |
Net income from securities lending activities |
$31,241,152 |
Vanguard Small-Cap Index Fund |
|
Gross income from securities lending activities |
$88,210,282 |
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 |
$84,556 |
Administrative fees not included in revenue split |
$1,437,810 |
Indemnification fee not included in revenue split |
$0 |
Rebate (paid to borrower) |
$4,523,897 |
Other fees not included in revenue split (specify) |
$0 |
Aggregate fees/compensation for securities lending activities |
$6,046,263 |
Net income from securities lending activities |
$82,164,019 |
Vanguard Small-Cap Value Index Fund |
|
Gross income from securities lending activities |
$18,242,650 |
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 |
$14,886 |
Administrative fees not included in revenue split |
$297,961 |
Indemnification fee not included in revenue split |
$0 |
Rebate (paid to borrower) |
$782,133 |
Vanguard Fund |
Securities Lending Activities |
Other fees not included in revenue split (specify) |
$0 |
Aggregate fees/compensation for securities lending activities |
$1,094,980 |
Net income from securities lending activities |
$17,147,670 |
Vanguard Total Stock Market Index Fund |
|
Gross income from securities lending activities |
$263,396,293 |
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 |
$215,730 |
Administrative fees not included in revenue split |
$4,624,167 |
Indemnification fee not included in revenue split |
$0 |
Rebate (paid to borrower) |
$10,807,151 |
Other fees not included in revenue split (specify) |
$0 |
Aggregate fees/compensation for securities lending activities |
$15,647,048 |
Net income from securities lending activities |
$247,749,245 |
Vanguard Value Index Fund |
|
Gross income from securities lending activities |
$10,589,808 |
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 |
$5,832 |
Administrative fees not included in revenue split |
$177,654 |
Indemnification fee not included in revenue split |
$0 |
Rebate (paid to borrower) |
$159,012 |
Other fees not included in revenue split (specify) |
$0 |
Aggregate fees/compensation for securities lending activities |
$342,498 |
Net income from securities lending activities |
$10,247,310 |
Vanguard Fund |
2020 |
2021 |
2022 |
Vanguard 500 Index Fund |
$2,484,000 |
$1,559,000 |
$2,643,000 |
Vanguard Extended Market Index Fund |
3,410,000 |
5,278,000 |
4,415,000 |
Vanguard Growth Index Fund |
413,000 |
— |
718,000 |
Vanguard Large-Cap Index Fund |
137,000 |
208,000 |
185,000 |
Vanguard Mid-Cap Growth Index Fund |
220,000 |
514,000 |
546,000 |
Vanguard Mid-Cap Index Fund |
3,601,000 |
3,515,000 |
3,276,000 |
Vanguard Mid-Cap Value Index Fund |
1,092,000 |
681,000 |
858,000 |
Vanguard Small-Cap Growth Index Fund |
1,179,000 |
2,149,000 |
2,586,000 |
Vanguard Small-Cap Index Fund |
4,782,000 |
6,910,000 |
7,593,000 |
Vanguard Small-Cap Value Index Fund |
1,818,000 |
2,081,000 |
2,402,000 |
Vanguard Total Stock Market Index Fund |
17,830,000 |
15,697,000 |
29,443,000 |
Vanguard Value Index Fund |
902,000 |
— |
1,067,000 |
Vanguard Fund |
Regular Broker or Dealer (or Parent) |
Aggregate Holdings |
Vanguard 500 Index Fund |
BofA Securities, Inc. |
$5,343,361,000 |
|
Citigroup Global Markets Inc. |
2,024,970,000 |
|
Goldman Sachs & Co. LLC |
2,464,568,000 |
|
J.P. Morgan Securities LLC |
9,092,223,000 |
|
Morgan Stanley & Co. LLC |
2,590,794,000 |
|
Wells Fargo Securities, LLC |
3,636,841,000 |
Vanguard Extended Market Index Fund |
Jefferies LLC |
84,872,000 |
|
Virtu Americas LLC |
24,759,000 |
Vanguard Growth Index Fund |
— |
— |
Vanguard Large-Cap Index Fund |
BofA Securities, Inc. |
246,297,000 |
|
Citigroup Global Markets Inc. |
90,760,000 |
|
Goldman Sachs & Co. LLC |
126,814,000 |
|
J.P. Morgan Securities LLC |
428,952,000 |
|
Morgan Stanley & Co. LLC |
117,534,000 |
|
Wells Fargo Securities, LLC |
171,581,000 |
Vanguard Mid-Cap Growth Index Fund |
— |
— |
Vanguard Mid-Cap Index Fund |
— |
— |
Vanguard Mid-Cap Value Index Fund |
— |
— |
Vanguard Small-Cap Growth Index Fund |
— |
— |
Vanguard Small-Cap Index Fund |
— |
— |
Vanguard Small-Cap Value Index Fund |
— |
— |
Vanguard Total Stock Market Index Fund |
Goldman Sachs & Co. LLC |
3,243,547,000 |
|
J.P. Morgan Securities LLC |
11,962,348,000 |
|
Morgan Stanley & Co. LLC |
3,277,567,000 |
Vanguard Fund |
Regular Broker or Dealer (or Parent) |
Aggregate Holdings |
Vanguard Value Index Fund |
BofA Securities, Inc. |
1,953,554,000 |
|
Citigroup Global Markets Inc. |
719,469,000 |
|
Goldman Sachs & Co. LLC |
919,683,000 |
|
J.P. Morgan Securities LLC |
3,402,303,000 |
|
Morgan Stanley & Co. LLC |
932,015,000 |
|
Wells Fargo Securities, LLC |
1,360,979,000 |
(a) |
Articles of Incorporation, Amended and Restated Agreement and Declaration of Trust, filed with Post-Effective
Amendment No. 172, dated April 29, 2021, are hereby incorporated by reference. |
(b) |
By-Laws, Amended and Restated By-Laws, filed with Post-Effective Amendment No. 172, dated April 29, 2021, are
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, The Vanguard Group, Inc., provides investment advisory services to the Funds
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 Agreement, for The Bank of New York Mellon, filed with Post-Effective Amendment No. 173, dated
April 29, 2022, is hereby incorporated by reference. For JPMorgan Chase Bank and State Street Bank and Trust
Company, are filed herewith. |
(h) |
Other Material Contracts, Form of Authorized Participant Agreement, filed with Post-Effective Amendment No. 120,
dated September 7, 2010; Fifth Amended and Restated Funds’ Service Agreement, filed with Post-Effective
Post-Effective Amendment No. 173, dated April 29, 2022, are hereby incorporated by reference. |
(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) |
Code of Ethics, for The Vanguard Group, Inc., filed with Post-Effective Amendment No. 173, dated April 29, 2022, is
hereby incorporated by reference. |
(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 |
None |
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 |
Nitin Tandon |
Chief Information Officer |
None |
Manish Nagar |
Chief Information Security Officer |
None |
Salvatore L. Pantalone |
Principal Financial Officer and Treasurer |
None |
Matthew Tretter |
Principal 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 |
Name |
Positions and Office with Underwriter |
Positions and Office with Funds |
Armond E. Mosley |
Vice President |
None |
David Petty |
Vice President |
None |
David MacBride |
Vice President |
None |
Massy Williams |
Vice President |
None |
Jacob Buttery |
Assistant Secretary |
None |
(c) |
Not applicable. |
Signature |
Title |
Date |
/s/ Mortimer J. Buckley*
Mortimer J. Buckley |
Chairman and Chief Executive Officer |
April 27, 2023 |
/s/ Tara Bunch*
Tara Bunch |
Trustee |
April 27, 2023 |
/s/ Emerson U. Fullwood*
Emerson U. Fullwood |
Trustee |
April 27, 2023 |
/s/ F. Joseph Loughrey*
F. Joseph Loughrey |
Trustee |
April 27, 2023 |
/s/ Mark Loughridge*
Mark Loughridge |
Trustee |
April 27, 2023 |
/s/ Scott C. Malpass*
Scott C. Malpass |
Trustee |
April 27, 2023 |
/s/ Deanna Mulligan*
Deanna Mulligan |
Trustee |
April 27, 2023 |
/s/ André F. Perold*
André F. Perold |
Trustee |
April 27, 2023 |
/s/ Sarah Bloom Raskin*
Sarah Bloom Raskin |
Trustee |
April 27, 2023 |
/s/ David Thomas*
David Thomas |
Trustee |
April 27, 2023 |
/s/ Peter F. Volanakis*
Peter F. Volanakis |
Trustee |
April 27, 2023 |
/s/ Christine Buchanan*
Christine Buchanan |
Chief Financial Officer |
April 27, 2023 |