|
Investor Shares |
Admiral Shares |
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 $10,000) |
$ |
$ |
|
Investor Shares |
Admiral Shares |
Management Fees |
|
|
12b-1 Distribution Fee |
|
|
Other Expenses |
|
|
Total Annual Fund Operating Expenses |
|
|
|
1 Year |
3 Years |
5 Years |
10 Years |
Investor Shares |
$ |
$ |
$ |
$ |
Admiral Shares |
$ |
$ |
$ |
$ |
|
Total Return |
Quarter |
|
|
|
|
- |
|
|
1 Year |
5 Years |
10 Years |
Vanguard U.S. Growth Fund Investor Shares |
|
|
|
Return Before Taxes |
|
|
|
Return After Taxes on Distributions |
|
|
|
Return After Taxes on Distributions and Sale of Fund Shares |
|
|
|
Vanguard U.S. Growth Fund Admiral Shares |
|
|
|
Return Before Taxes |
|
|
|
Russell 1000 Growth Index
(reflects no deduction for fees, expenses, or taxes) |
|
|
|
Dow Jones U.S. Total Stock Market Float Adjusted Index
(reflects no deduction for fees, expenses, or taxes) |
|
|
|
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 U.S. Growth Fund’s expense
ratios would be as follows: for Investor Shares, 0.38%, or $3.80 per $1,000
of average net assets; for Admiral Shares, 0.28%, or $2.80 per $1,000 of
average net assets. The average expense ratio for large-cap growth funds in
2020 was 0.99%, or $9.90 per $1,000 of average net assets (derived from
data provided by Lipper, a Thomson Reuters Company, which reports on the
mutual fund industry). |
Plain Talk About Costs of Investing |
Costs are an important consideration in choosing a mutual fund. That is
because you, as a shareholder, pay a proportionate share of the costs of
operating a fund and any transaction costs incurred when the fund buys or
sells securities. These costs can erode a substantial portion of the gross
income or the capital appreciation a fund achieves. Even seemingly small
differences in expenses can, over time, have a dramatic effect on a
fund’s performance. |
Plain Talk About Growth Funds and Value Funds |
Growth investing and value investing are two styles employed by stock-fund
managers. Growth funds generally invest in stocks of companies believed to
have above-average potential for growth in revenue, earnings, cash flow, or
other similar criteria. These stocks typically have low dividend yields, if any,
and above-average prices in relation to measures such as earnings and book
value. Value funds typically invest in stocks whose prices are below average
in relation to those measures; these stocks often have above-average
dividend yields. Value stocks also may remain undervalued by the market for
long periods of time. Growth and value stocks have historically produced
similar long-term returns, though each category has periods when it
outperforms the other. |
Plain Talk About Derivatives |
Derivatives can take many forms. Some forms of derivatives—such as
exchange-traded futures and options on securities, commodities, or
indexes—have been trading on regulated exchanges for decades. These
types of derivatives are standardized contracts that can easily be bought and
sold and whose market values are determined and published daily. On the
other hand, non-exchange-traded derivatives—such as certain swap
agreements and foreign currency exchange forward contracts—tend to be
more specialized or complex and may be more difficult to accurately value. |
Plain Talk About Vanguard’s Unique Corporate Structure |
The Vanguard Group is owned jointly by the funds it oversees and thus
indirectly by the shareholders in those funds. Most other mutual funds are
operated by management companies that are owned by third parties—either
public or private stockholders—and not by the funds they serve. |
Plain Talk About Distributions |
As a shareholder, you are entitled to your portion of a fund’s income from
interest and dividends as well as capital gains from the fund’s sale of
investments. Income consists of both the dividends that the fund earns from
any stock holdings and the interest it receives from any money market and
bond investments. Capital gains are realized whenever the fund sells
securities for higher prices than it paid for them. These capital gains are
either short-term or long-term, depending on whether the fund held the
securities for one year or less or for more than one year. |
Plain Talk About Buying a Dividend |
Unless you are a tax-exempt investor or investing through a tax-advantaged
account (such as an IRA or an employer-sponsored retirement or savings
plan), you should consider avoiding a purchase of fund shares shortly before
the fund makes a distribution, because doing so can cost you money in
taxes. This is known as “buying a dividend.” For example: On December 15,
you invest $5,000, buying 250 shares for $20 each. If the fund pays a
distribution of $1 per share on December 16, its share price will drop to $19
(not counting market change). You still have only $5,000 (250 shares x $19 =
$4,750 in share value, plus 250 shares x $1 = $250 in distributions), but you
owe tax on the $250 distribution you received—even if you reinvest it in
more shares. To avoid buying a dividend, check a fund’s distribution schedule
before you invest. |
|
Year Ended August 31, | ||||
For a Share Outstanding Throughout Each Period |
2021 |
2020 |
2019 |
2018 |
2017 |
Net Asset Value, Beginning of Period |
$62.28 |
$41.02 |
$43.31 |
$35.62 |
$30.32 |
Investment Operations |
|
|
|
|
|
Net Investment Income (Loss)1 |
(.013) |
.113 |
.176 |
.134 |
.151 |
Net Realized and Unrealized Gain (Loss) on Investments |
16.700 |
22.856 |
.771 |
9.394 |
5.590 |
Total from Investment Operations |
16.687 |
22.969 |
.947 |
9.528 |
5.741 |
Distributions |
|
|
|
|
|
Dividends from Net Investment Income |
(.019) |
(.119) |
(.132) |
(.146) |
(.121) |
Distributions from Realized Capital Gains |
(2.538) |
(1.590) |
(3.105) |
(1.692) |
(.320) |
Total Distributions |
(2.557) |
(1.709) |
(3.237) |
(1.838) |
(.441) |
Net Asset Value, End of Period |
$76.41 |
$62.28 |
$41.02 |
$43.31 |
$35.62 |
Total Return2 |
27.52% |
58.01% |
3.70% |
27.64% |
19.24% |
Ratios/Supplemental Data |
|
|
|
|
|
Net Assets, End of Period (Millions) |
$13,405 |
$12,410 |
$8,819 |
$4,582 |
$4,113 |
Ratio of Total Expenses to Average Net Assets3 |
0.38% |
0.38% |
0.39% |
0.42% |
0.43% |
Ratio of Net Investment Income (Loss) to Average Net
Assets |
(0.02%) |
0.25% |
0.44% |
0.35% |
0.47% |
Portfolio Turnover Rate |
41% |
38% |
41% |
33% |
27% |
|
|
1 |
Calculated based on average shares outstanding. |
2 |
Total returns do not include account service fees that may have applied in the periods shown. Fund prospectuses
provide information about any applicable account service fees. |
3 |
Includes performance-based investment advisory fee increases (decreases) of 0.03%, 0.02%, 0.01%, 0.01%, and
(0.01%). |
|
Year Ended August 31, | ||||
For a Share Outstanding Throughout Each Period |
2021 |
2020 |
2019 |
2018 |
2017 |
Net Asset Value, Beginning of Period |
$161.42 |
$106.30 |
$112.28 |
$92.24 |
$78.52 |
Investment Operations |
|
|
|
|
|
Net Investment Income1
|
.138 |
.410 |
.572 |
.476 |
.502 |
Net Realized and Unrealized Gain (Loss) on
Investments |
43.277 |
59.231 |
1.963 |
24.323 |
14.480 |
Total from Investment Operations |
43.415 |
59.641 |
2.535 |
24.799 |
14.982 |
Distributions |
|
|
|
|
|
Dividends from Net Investment Income |
(.224) |
(.401) |
(.464) |
(.375) |
(.433) |
Distributions from Realized Capital Gains |
(6.581) |
(4.120) |
(8.051) |
(4.384) |
(.829) |
Total Distributions |
(6.805) |
(4.521) |
(8.515) |
(4.759) |
(1.262) |
Net Asset Value, End of Period |
$198.03 |
$161.42 |
$106.30 |
$112.28 |
$92.24 |
Total Return2
|
27.64% |
58.17% |
3.80% |
27.78% |
19.42% |
Ratios/Supplemental Data |
|
|
|
|
|
Net Assets, End of Period (Millions) |
$41,539 |
$27,860 |
$17,060 |
$6,249 |
$3,791 |
Ratio of Total Expenses to Average Net Assets3
|
0.28% |
0.28% |
0.28% |
0.30% |
0.30% |
Ratio of Net Investment Income to Average Net
Assets |
0.08% |
0.35% |
0.55% |
0.47% |
0.60% |
Portfolio Turnover Rate |
41% |
38% |
41% |
33% |
27% |
|
|
1 |
Calculated based on average shares outstanding. |
2 |
Total returns do not include account service fees that may have applied in the periods shown. Fund prospectuses
provide information about any applicable account service fees. |
3 |
Includes performance-based investment advisory fee increases (decreases) of 0.03%, 0.02%, 0.01%, 0.01%, and
(0.01%). |
Web |
|
Vanguard.com |
For the most complete source of Vanguard news
For fund, account, and service information
For most account transactions
For literature requests
24 hours a day, 7 days a week |
Phone | |
Vanguard Tele-Account®
800-662-6273 |
For automated fund and account information
Toll-free, 24 hours a day, 7 days a week |
Investor Information 800-662-7447
(Text telephone for people with
hearing impairment at 800-749-7273) |
For fund and service information
For literature requests |
Client Services 800-662-2739
(Text telephone for people with
hearing impairment at 800-749-7273) |
For account information
For most account transactions |
Participant Services 800-523-1188
(Text telephone for people with
hearing impairment at 800-749-7273) |
For information and services for participants in
employer-sponsored plans |
Institutional Division
888-809-8102 |
For information and services for large institutional
investors |
Financial Advisor and Intermediary
Sales Support 800-997-2798 |
For information and services for financial intermediaries
including financial advisors, broker-dealers, trust
institutions, and insurance companies |
Financial Advisory and Intermediary
Trading Support 800-669-0498 |
For account information and trading support for
financial intermediaries including financial advisors,
broker-dealers, trust institutions, and insurance
companies |
|
Inception
Date |
Newspaper
Abbreviation |
Vanguard
Fund Number |
CUSIP
Number |
U.S. Growth Fund | ||||
Investor Shares |
1/6/1959 |
USGro |
23 |
921910105 |
Admiral Shares |
8/13/2001 |
USGroAdml |
523 |
921910600 |
|
Investor Shares |
Admiral Shares |
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 $10,000) |
$ |
$ |
|
Investor Shares |
Admiral Shares |
Management Fees |
|
|
12b-1 Distribution Fee |
|
|
Other Expenses |
|
|
Total Annual Fund Operating Expenses |
|
|
|
1 Year |
3 Years |
5 Years |
10 Years |
Investor Shares |
$ |
$ |
$ |
$ |
Admiral Shares |
$ |
$ |
$ |
$ |
|
Total Return |
Quarter |
|
|
|
|
- |
|
|
1 Year |
5 Years |
10 Years |
Vanguard International Growth Fund Investor Shares |
|
|
|
Return Before Taxes |
|
|
|
Return After Taxes on Distributions |
|
|
|
Return After Taxes on Distributions and Sale of Fund Shares |
|
|
|
Vanguard International Growth Fund Admiral Shares |
|
|
|
Return Before Taxes |
|
|
|
MSCI ACWI ex USA Index
(reflects no deduction for fees or expenses) |
|
|
|
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 International Growth Fund’s
expense ratios would be as follows: for Investor Shares, 0.43%, or $4.30 per
$1,000 of average net assets; for Admiral Shares, 0.32%, or $3.20 per
$1,000 of average net assets. The average expense ratio for international
funds in 2020 was 1.25%, or $12.50 per $1,000 of average net assets
(derived from data provided by Lipper, a Thomson Reuters Company, which
reports on the mutual fund industry). |
Plain Talk About Costs of Investing |
Costs are an important consideration in choosing a mutual fund. That is
because you, as a shareholder, pay a proportionate share of the costs of
operating a fund and any transaction costs incurred when the fund buys or
sells securities. These costs can erode a substantial portion of the gross
income or the capital appreciation a fund achieves. Even seemingly small
differences in expenses can, over time, have a dramatic effect on a
fund’s performance. |
Plain Talk About Growth Funds and Value Funds |
Growth investing and value investing are two styles employed by stock-fund
managers. Growth funds generally invest in stocks of companies believed to
have above-average potential for growth in revenue, earnings, cash flow, or
other similar criteria. These stocks typically have low dividend yields, if any,
and above-average prices in relation to measures such as earnings and book
value. Value funds typically invest in stocks whose prices are below average
in relation to those measures; these stocks often have above-average
dividend yields. Value stocks also may remain undervalued by the market for
long periods of time. Growth and value stocks have historically produced
similar long-term returns, though each category has periods when it
outperforms the other. |
Plain Talk About International Investing |
U.S. investors who invest in foreign securities will encounter risks not
typically associated with U.S. companies because foreign stock and bond
markets operate differently from the U.S. markets. For instance, foreign
companies and governments may not be subject to the same or similar
accounting, auditing, legal, tax, and financial reporting standards and
practices as U.S. companies and the U.S. government, and their stocks and
bonds may not be as liquid as those of similar U.S. entities. In addition,
foreign stock exchanges, brokers, companies, bond markets, and dealers
may be subject to less government supervision and regulation than their
counterparts in the United States. These factors, among others, could
negatively affect the returns U.S. investors receive from foreign investments. |
Plain Talk About Vanguard’s Unique Corporate Structure |
The Vanguard Group is owned jointly by the funds it oversees and thus
indirectly by the shareholders in those funds. Most other mutual funds are
operated by management companies that are owned by third parties—either
public or private stockholders—and not by the funds they serve. |
Plain Talk About Distributions |
As a shareholder, you are entitled to your portion of a fund’s income from
interest and dividends as well as capital gains from the fund’s sale of
investments. Income consists of both the dividends that the fund earns from
any stock holdings and the interest it receives from any money market and
bond investments. Capital gains are realized whenever the fund sells
securities for higher prices than it paid for them. These capital gains are
either short-term or long-term, depending on whether the fund held the
securities for one year or less or for more than one year. |
Plain Talk About Buying a Dividend |
Unless you are a tax-exempt investor or investing through a tax-advantaged
account (such as an IRA or an employer-sponsored retirement or savings
plan), you should consider avoiding a purchase of fund shares shortly before
the fund makes a distribution, because doing so can cost you money in
taxes. This is known as “buying a dividend.” For example: On December 15,
you invest $5,000, buying 250 shares for $20 each. If the fund pays a
distribution of $1 per share on December 16, its share price will drop to $19
(not counting market change). You still have only $5,000 (250 shares x $19 =
$4,750 in share value, plus 250 shares x $1 = $250 in distributions), but you
owe tax on the $250 distribution you received—even if you reinvest it in
more shares. To avoid buying a dividend, check a fund’s distribution schedule
before you invest. |
|
Year Ended August 31, | ||||
For a Share Outstanding Throughout Each Period |
2021 |
2020 |
2019 |
2018 |
2017 |
Net Asset Value, Beginning of Period |
$42.94 |
$28.30 |
$31.23 |
$28.38 |
$22.38 |
Investment Operations |
|
|
|
|
|
Net Investment Income1 |
.374 |
.238 |
.342 |
.381 |
.240 |
Net Realized and Unrealized Gain (Loss) on Investments |
12.336 |
14.791 |
(1.941) |
2.722 |
6.028 |
Total from Investment Operations |
12.710 |
15.029 |
(1.599) |
3.103 |
6.268 |
Distributions |
|
|
|
|
|
Dividends from Net Investment Income |
(.106) |
(.389) |
(.403) |
(.253) |
(.268) |
Distributions from Realized Capital Gains |
(1.044) |
— |
(.928) |
— |
— |
Total Distributions |
(1.150) |
(.389) |
(1.331) |
(.253) |
(.268) |
Net Asset Value, End of Period |
$54.50 |
$42.94 |
$28.30 |
$31.23 |
$28.38 |
Total Return2 |
29.89% |
53.60% |
-4.58% |
10.97% |
28.43% |
Ratios/Supplemental Data |
|
|
|
|
|
Net Assets, End of Period (Millions) |
$11,247 |
$9,658 |
$7,056 |
$8,074 |
$7,731 |
Ratio of Total Expenses to Average Net Assets3 |
0.43% |
0.44% |
0.43% |
0.45% |
0.45% |
Ratio of Net Investment Income to Average Net Assets |
0.75% |
0.74% |
1.23% |
1.25% |
1.01% |
Portfolio Turnover Rate |
25% |
20% |
13% |
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 |
Includes performance-based investment advisory fee increases (decreases) of 0.03%, 0.04%, 0.03%, 0.03%, and
0.03%. |
|
Year Ended August 31, | ||||
For a Share Outstanding Throughout Each Period |
2021 |
2020 |
2019 |
2018 |
2017 |
Net Asset Value, Beginning of Period |
$136.68 |
$90.05 |
$99.45 |
$90.24 |
$71.19 |
Investment Operations |
|
|
|
|
|
Net Investment Income1
|
1.367 |
.863 |
1.203 |
1.365 |
.879 |
Net Realized and Unrealized Gain (Loss) on Investments |
39.246 |
47.105 |
(6.230) |
8.652 |
19.127 |
Total from Investment Operations |
40.613 |
47.968 |
(5.027) |
10.017 |
20.006 |
Distributions |
|
|
|
|
|
Dividends from Net Investment Income |
(.497) |
(1.338) |
(1.418) |
(.807) |
(.956) |
Distributions from Realized Capital Gains |
(3.326) |
— |
(2.955) |
— |
— |
Total Distributions |
(3.823) |
(1.338) |
(4.373) |
(.807) |
(.956) |
Net Asset Value, End of Period |
$173.47 |
$136.68 |
$90.05 |
$99.45 |
$90.24 |
Total Return2
|
30.01% |
53.81% |
-4.50% |
11.14% |
28.57% |
Ratios/Supplemental Data |
|
|
|
|
|
Net Assets, End of Period (Millions) |
$62,342 |
$46,906 |
$28,549 |
$29,170 |
$23,101 |
Ratio of Total Expenses to Average Net Assets3
|
0.32% |
0.33% |
0.32% |
0.32% |
0.32% |
Ratio of Net Investment Income to Average Net Assets |
0.86% |
0.83% |
1.34% |
1.38% |
1.14% |
Portfolio Turnover Rate |
25% |
20% |
13% |
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 |
Includes performance-based investment advisory fee increases (decreases) of 0.03%, 0.04%, 0.03%, 0.03%, and
0.03%. |
Web |
|
Vanguard.com |
For the most complete source of Vanguard news
For fund, account, and service information
For most account transactions
For literature requests
24 hours a day, 7 days a week |
Phone | |
Vanguard Tele-Account®
800-662-6273 |
For automated fund and account information
Toll-free, 24 hours a day, 7 days a week |
Investor Information 800-662-7447
(Text telephone for people with
hearing impairment at 800-749-7273) |
For fund and service information
For literature requests |
Client Services 800-662-2739
(Text telephone for people with
hearing impairment at 800-749-7273) |
For account information
For most account transactions |
Participant Services 800-523-1188
(Text telephone for people with
hearing impairment at 800-749-7273) |
For information and services for participants in
employer-sponsored plans |
Institutional Division
888-809-8102 |
For information and services for large institutional
investors |
Financial Advisor and Intermediary
Sales Support 800-997-2798 |
For information and services for financial intermediaries
including financial advisors, broker-dealers, trust
institutions, and insurance companies |
Financial Advisory and Intermediary
Trading Support 800-669-0498 |
For account information and trading support for
financial intermediaries including financial advisors,
broker-dealers, trust institutions, and insurance
companies |
|
Inception
Date |
Newspaper
Abbreviation |
Vanguard
Fund Number |
CUSIP
Number |
International Growth Fund | ||||
Investor Shares |
9/30/1981 |
IntlGr |
81 |
921910204 |
Admiral Shares |
8/13/2001 |
IntlGrAdml |
581 |
921910501 |
| |
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 Duration Treasury Index Fund
ETF Shares |
|
|
|
Based on NAV |
|
|
|
Return Before Taxes |
|
|
|
Return After Taxes on Distributions |
|
|
|
Return After Taxes on Distributions and Sale of Fund Shares |
|
|
|
Based on Market Price |
|
|
|
Return Before Taxes |
|
|
|
Bloomberg U.S. Treasury STRIPS 20-30 Year Equal Par
Bond Index
(reflects no deduction for fees, expenses, or taxes) |
|
|
|
Bloomberg U.S. Aggregate Bond 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 Extended Duration Treasury Index Fund ETF
Shares’ expense ratio would be 0.06%, or $0.60 per $1,000 of average net
assets. The average expense ratio for general U.S. Treasury funds in 2020
was 0.23%, or $2.30 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 Treasury STRIPS |
A Treasury STRIP represents a single coupon payment, or a single principal
payment, on a U.S. Treasury security that has been “stripped” into separately
tradable components. For example, a newly issued 10-year U.S. Treasury
note can be divided into 20 semiannual coupon payments (coupon STRIPS)
and a single principal payment (principal STRIP). Treasury STRIPS are
obligations of the U.S. Treasury and are backed by the full faith and credit of
the U.S. government. Treasury STRIPS are sometimes called zero-coupon securities because the
only time an investor receives payment is at maturity. Consequently, these
securities are more sensitive to changes in interest rates than
coupon-bearing securities with the same maturity date. Treasury STRIPS
are popular with pension funds and insurance companies because these
securities have known cash values at maturity, which enables investors to
closely match their liabilities with guaranteed payments from the
U.S. Treasury. Because Treasury STRIPS do not pay interest, they are issued
and sold at a discount to face value. We expect the Fund will be required to distribute income dividends to
shareholders, but because Treasury STRIPS do not pay interest and are
purchased at an “original issue discount,” the Fund does not receive cash
interest payments on the STRIPS in which it invests. As a result, the Fund
may need to liquidate assets, at potentially inopportune times, to satisfy its
income dividend distribution requirements. |
Type of Bond (Maturity) |
After a 1%
Increase |
After a 1%
Decrease |
After a 2%
Increase |
After a 2%
Decrease |
Short-Term (2.5 years)1 |
$ 977 |
$ 1,024 |
$ 954 |
$ 1,049 |
Intermediate-Term (10 years)1 |
922 |
1,086 |
851 |
1,180 |
Long-Term (20 years)1 |
874 |
1,150 |
769 |
1,328 |
Long-Term Zero-Coupon (20 years) |
800 |
1,200 |
600 |
1,400 |
Plain Talk About Bonds and Interest Rates |
As a rule, when interest rates rise, bond prices fall. The opposite is also true:
Bond prices go up when interest rates fall. Why do bond prices and interest
rates move in opposite directions? Let’s assume that you hold a bond
offering a 4% yield. A year later, interest rates are on the rise and bonds of
comparable quality and maturity are offered with a 5% yield. With
higher-yielding bonds available, you would have trouble selling your 4% bond
for the price you paid—you would probably have to lower your asking price.
On the other hand, if interest rates were falling and 3% bonds were being
offered, you should be able to sell your 4% bond for more than you paid. |
Plain Talk About Bond Maturities |
A bond is issued with a specific maturity date—the date when the issuer
must pay back the bond’s principal (face value). Bond maturities range from
less than 1 year to more than 30 years. Typically, the longer a bond’s maturity,
the more price risk you, as a bond investor, will face as interest rates
rise—but also the higher the potential yield you could receive. Longer-term
bonds are generally more suitable for investors willing to take a greater risk
of price fluctuations to get higher and more stable interest income.
Shorter-term bond investors should be willing to accept lower yields and
greater income variability in return for less fluctuation in the value of their
investment. The stated maturity of a bond may differ from the effective
maturity of a bond, which takes into consideration that an action such as a
call or refunding may cause bonds to be repaid before their stated
maturity dates. |
Plain Talk About Vanguard’s Unique Corporate Structure |
The Vanguard Group 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. |
|
Inception Date |
Vanguard
Fund Number |
CUSIP
Number |
Extended Duration Treasury Index Fund | |||
ETF Shares |
12/6/2007 |
930 |
921910709 |
|
Year Ended August 31, | ||||
For a Share Outstanding Throughout Each Period |
2021 |
2020 |
2019 |
2018 |
2017 |
Net Asset Value, Beginning of Period |
$163.11 |
$146.43 |
$113.39 |
$120.92 |
$139.77 |
Investment Operations |
|
|
|
|
|
Net Investment Income1 |
2.795 |
3.146 |
3.347 |
3.353 |
3.383 |
Net Realized and Unrealized Gain (Loss) on
Investments2 |
(17.061) |
18.113 |
32.972 |
(7.272) |
(16.377) |
Total from Investment Operations |
(14.266) |
21.259 |
36.319 |
(3.919) |
(12.994) |
Distributions |
|
|
|
|
|
Dividends from Net Investment Income |
(2.820) |
(3.329) |
(3.279) |
(3.314) |
(3.402) |
Distributions from Realized Capital Gains |
(5.334) |
(1.250) |
— |
(.297) |
(2.454) |
Total Distributions |
(8.154) |
(4.579) |
(3.279) |
(3.611) |
(5.856) |
Net Asset Value, End of Period |
$140.69 |
$163.11 |
$146.43 |
$113.39 |
$120.92 |
Total Return |
-8.94% |
14.98% |
32.92% |
-3.24% |
-8.86% |
Ratios/Supplemental Data |
|
|
|
|
|
Net Assets, End of Period (Millions) |
$1,277 |
$1,810 |
$1,333 |
$658 |
$623 |
Ratio of Total Expenses to Average Net Assets |
0.06% |
0.07% |
0.07% |
0.07% |
0.07% |
Ratio of Net Investment Income to Average Net
Assets |
1.93% |
2.06% |
2.87% |
2.93% |
2.90% |
Portfolio Turnover Rate3 |
23% |
17% |
20% |
18% |
18% |
|
|
1 |
Calculated based on average shares outstanding. |
2 |
Includes increases from purchase fees of $.07, $.07, $.04, $.07, and $.16. |
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. |
|
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 Duration Treasury Index Fund
Institutional Shares |
|
|
|
Return Before Taxes |
|
|
|
Return After Taxes on Distributions |
|
|
|
Return After Taxes on Distributions and Sale of Fund Shares |
|
|
|
Bloomberg U.S. Treasury STRIPS 20-30 Year Equal Par
Bond Index
(reflects no deduction for fees, expenses, or taxes) |
|
|
|
Bloomberg U.S. Aggregate Bond Index
(reflects no deduction for fees, expenses, or taxes) |
|
|
|
|
1 Year |
5 Years |
Since
Fund
Inception |
Fund
Inception
Date |
Vanguard Extended Duration Treasury Index
Fund Institutional Plus Shares |
|
|
|
|
Return Before Taxes |
|
|
|
|
Bloomberg U.S. Treasury STRIPS 20-30 Year
Equal Par Bond Index
(reflects no deduction for fees, expenses,
or taxes) |
|
|
|
|
Bloomberg U.S. Aggregate Bond 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 Extended Duration Treasury
Index Fund's expense ratios would be as follows: for Institutional Shares,
0.06%, or $0.60 per $1,000 of average net assets; for Institutional Plus
Shares, 0.04%, or $0.40 per $1,000 of average net assets. The average
expense ratio for general U.S. Treasury funds in 2020 was 0.23%, or $2.30
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 Treasury STRIPS |
A Treasury STRIP represents a single coupon payment, or a single principal
payment, on a U.S. Treasury security that has been “stripped” into separately
tradable components. For example, a newly issued 10-year U.S. Treasury
note can be divided into 20 semiannual coupon payments (coupon STRIPS)
and a single principal payment (principal STRIP). Treasury STRIPS are
obligations of the U.S. Treasury and are backed by the full faith and credit of
the U.S. government. Treasury STRIPS are sometimes called zero-coupon securities because the
only time an investor receives payment is at maturity. Consequently, these
securities are more sensitive to changes in interest rates than
coupon-bearing securities with the same maturity date. Treasury STRIPS
are popular with pension funds and insurance companies because these
securities have known cash values at maturity, which enables investors to
closely match their liabilities with guaranteed payments from the
U.S. Treasury. Because Treasury STRIPS do not pay interest, they are issued
and sold at a discount to face value. We expect the Fund will be required to distribute income dividends to
shareholders, but because Treasury STRIPS do not pay interest and are
purchased at an “original issue discount,” the Fund does not receive cash
interest payments on the STRIPS in which it invests. As a result, the Fund
may need to liquidate assets, at potentially inopportune times, to satisfy its
income dividend distribution requirements. |
Type of Bond (Maturity) |
After a 1%
Increase |
After a 1%
Decrease |
After a 2%
Increase |
After a 2%
Decrease |
Short-Term (2.5 years)1 |
$ 977 |
$ 1,024 |
$ 954 |
$ 1,049 |
Intermediate-Term (10 years)1 |
922 |
1,086 |
851 |
1,180 |
Long-Term (20 years)1 |
874 |
1,150 |
769 |
1,328 |
Long-Term Zero-Coupon (20 years) |
800 |
1,200 |
600 |
1,400 |
Plain Talk About Bonds and Interest Rates |
As a rule, when interest rates rise, bond prices fall. The opposite is also true:
Bond prices go up when interest rates fall. Why do bond prices and interest
rates move in opposite directions? Let’s assume that you hold a bond
offering a 4% yield. A year later, interest rates are on the rise and bonds of
comparable quality and maturity are offered with a 5% yield. With
higher-yielding bonds available, you would have trouble selling your 4% bond
for the price you paid—you would probably have to lower your asking price.
On the other hand, if interest rates were falling and 3% bonds were being
offered, you should be able to sell your 4% bond for more than you paid. |
Plain Talk About Bond Maturities |
A bond is issued with a specific maturity date—the date when the issuer
must pay back the bond’s principal (face value). Bond maturities range from
less than 1 year to more than 30 years. Typically, the longer a bond’s maturity,
the more price risk you, as a bond investor, will face as interest rates
rise—but also the higher the potential yield you could receive. Longer-term
bonds are generally more suitable for investors willing to take a greater risk
of price fluctuations to get higher and more stable interest income.
Shorter-term bond investors should be willing to accept lower yields and
greater income variability in return for less fluctuation in the value of their
investment. The stated maturity of a bond may differ from the effective
maturity of a bond, which takes into consideration that an action such as a
call or refunding may cause bonds to be repaid before their stated
maturity dates. |
Plain Talk About Vanguard’s Unique Corporate Structure |
The Vanguard Group 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 August 31, | ||||
For a Share Outstanding Throughout Each Period |
2021 |
2020 |
2019 |
2018 |
2017 |
Net Asset Value, Beginning of Period |
$49.27 |
$44.24 |
$34.25 |
$36.52 |
$42.20 |
Investment Operations |
|
|
|
|
|
Net Investment Income1 |
.842 |
.959 |
1.015 |
1.016 |
1.024 |
Net Realized and Unrealized Gain (Loss) on Investments2 |
(5.143) |
5.459 |
9.967 |
(2.191) |
(4.934) |
Total from Investment Operations |
(4.301) |
6.418 |
10.982 |
(1.175) |
(3.910) |
Distributions |
|
|
|
|
|
Dividends from Net Investment Income |
(.857) |
(1.010) |
(.992) |
(1.005) |
(1.030) |
Distributions from Realized Capital Gains |
(1.612) |
(.378) |
— |
(.090) |
(.740) |
Total Distributions |
(2.469) |
(1.388) |
(.992) |
(1.095) |
(1.770) |
Net Asset Value, End of Period |
$42.50 |
$49.27 |
$44.24 |
$34.25 |
$36.52 |
Total Return3 |
-8.95% |
14.98% |
32.94% |
-3.23% |
-8.86% |
Ratios/Supplemental Data |
|
|
|
|
|
Net Assets, End of Period (Millions) |
$789 |
$889 |
$862 |
$787 |
$682 |
Ratio of Total Expenses to Average Net Assets |
0.06% |
0.06% |
0.06% |
0.06% |
0.06% |
Ratio of Net Investment Income to Average Net Assets |
1.96% |
2.10% |
2.88% |
2.94% |
2.91% |
Portfolio Turnover Rate4 |
23% |
17% |
20% |
18% |
18% |
|
|
1 |
Calculated based on average shares outstanding. |
2 |
Includes increases from purchase fees of $.02, $.02, $.01, $.02, and $.05. |
3 |
Total returns do not include transaction fees that may have applied in the periods shown. Fund prospectuses
provide information about any applicable transaction fees. |
4 |
Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of
the fund’s capital shares, including ETF Creation Units. |
|
Year Ended August 31, | ||||
For a Share Outstanding Throughout Each Period |
2021 |
2020 |
2019 |
2018 |
2017 |
Net Asset Value, Beginning of Period |
$123.70 |
$111.06 |
$85.99 |
$91.68 |
$105.93 |
Investment Operations |
|
|
|
|
|
Net Investment Income1
|
2.140 |
2.432 |
2.564 |
2.568 |
2.588 |
Net Realized and Unrealized Gain (Loss) on
Investments2
|
(12.941) |
13.716 |
25.015 |
(5.492) |
(12.375) |
Total from Investment Operations |
(10.801) |
16.148 |
27.579 |
(2.924) |
(9.787) |
Distributions |
|
|
|
|
|
Dividends from Net Investment Income |
(2.173) |
(2.560) |
(2.509) |
(2.541) |
(2.603) |
Distributions from Realized Capital Gains |
(4.046) |
(.948) |
— |
(.225) |
(1.860) |
Total Distributions |
(6.219) |
(3.508) |
(2.509) |
(2.766) |
(4.463) |
Net Asset Value, End of Period |
$106.68 |
$123.70 |
$111.06 |
$85.99 |
$91.68 |
Total Return3
|
-8.95% |
15.02% |
32.95% |
-3.20% |
-8.84% |
Ratios/Supplemental Data |
|
|
|
|
|
Net Assets, End of Period (Millions) |
$505 |
$689 |
$780 |
$533 |
$367 |
Ratio of Total Expenses to Average Net Assets |
0.04% |
0.04% |
0.04% |
0.04% |
0.04% |
Ratio of Net Investment Income to Average Net
Assets |
1.96% |
2.12% |
2.90% |
2.96% |
2.93% |
Portfolio Turnover Rate4
|
23% |
17% |
20% |
18% |
18% |
|
|
1 |
Calculated based on average shares outstanding. |
2 |
Includes increases from purchase fees of $.05, $.05, $.03, $.06, and $.12. |
3 |
Total returns do not include transaction fees that may have applied in the periods shown. Fund prospectuses
provide information about any applicable transaction fees. |
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 | |
Vanguard Tele-Account®
800-662-6273 |
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Toll-free, 24 hours a day, 7 days a week |
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(Text telephone for people with
hearing impairment at 800-749-7273) |
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For account information and trading support for
financial intermediaries including financial advisors,
broker-dealers, trust institutions, and insurance
companies |
|
Inception
Date |
Newspaper
Abbreviation |
Vanguard
Fund Number |
CUSIP
Number |
Extended Duration Treasury
Index Fund |
| |||
Institutional Shares |
11/28/2007 |
ExtDurTresInst |
1275 |
921910881 |
Institutional Plus Shares |
8/28/2013 |
ExtDurTreIntPl |
1276 |
921910808 |
| |
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 $10,000) |
$ |
| |
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 |
Since
Fund
Inception |
Fund
Inception
Date |
Vanguard FTSE Social Index Fund Admiral Shares |
|
|
|
Return Before Taxes |
|
|
|
Return After Taxes on Distributions |
|
|
|
Return After Taxes on Distributions and Sale of Fund Shares |
|
|
|
FTSE4Good US Select 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 FTSE Social Index Fund Admiral
Shares’ expense ratio would be 0.14%, or $1.40 per $1,000 of average net
assets. The average expense ratio for large-cap growth funds in 2020 was
0.99%, or $9.90 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 |
The Vanguard Group is owned jointly by the funds it oversees and thus
indirectly by the shareholders in those funds. Most other mutual funds are
operated by management companies that are owned by third parties—either
public or private stockholders—and not by the funds they serve. |
Plain Talk About Distributions |
As a shareholder, you are entitled to your portion of a fund’s income from
interest and dividends as well as capital gains from the fund’s sale of
investments. Income consists of both the dividends that the fund earns from
any stock holdings and the interest it receives from any money market and
bond investments. Capital gains are realized whenever the fund sells
securities for higher prices than it paid for them. These capital gains are
either short-term or long-term, depending on whether the fund held the
securities for one year or less or for more than one year. |
Plain Talk About Buying a Dividend |
Unless you are a tax-exempt investor or investing through a tax-advantaged
account (such as an IRA or an employer-sponsored retirement or savings
plan), you should consider avoiding a purchase of fund shares shortly before
the fund makes a distribution, because doing so can cost you money in
taxes. This is known as “buying a dividend.” For example: On December 15,
you invest $5,000, buying 250 shares for $20 each. If the fund pays a
distribution of $1 per share on December 16, its share price will drop to $19
(not counting market change). You still have only $5,000 (250 shares x $19 =
$4,750 in share value, plus 250 shares x $1 = $250 in distributions), but you
owe tax on the $250 distribution you received—even if you reinvest it in
more shares. To avoid buying a dividend, check a fund’s distribution schedule
before you invest. |
|
Year Ended August 31, |
February 7,
20191 to
August 31, | |
For a Share Outstanding Throughout Each Period |
2021 |
2020 |
2019 |
Net Asset Value, Beginning of Period |
$34.27 |
$27.27 |
$25.00 |
Investment Operations |
|
|
|
Net Investment Income2
|
.432 |
.465 |
.273 |
Net Realized and Unrealized Gain (Loss) on Investments |
10.110 |
6.996 |
2.183 |
Total from Investment Operations |
10.542 |
7.461 |
2.456 |
Distributions |
|
|
|
Dividends from Net Investment Income |
(.422) |
(.461) |
(.186) |
Distributions from Realized Capital Gains |
— |
— |
— |
Total Distributions |
(.422) |
(.461) |
(.186) |
Net Asset Value, End of Period |
$44.39 |
$34.27 |
$27.27 |
Total Return3
|
31.04% |
27.83% |
9.85% |
Ratios/Supplemental Data |
|
|
|
Net Assets, End of Period (Millions) |
$8,573 |
$5,305 |
$3,478 |
Ratio of Total Expenses to Average Net Assets |
0.14% |
0.14% |
0.14%4
|
Ratio of Net Investment Income to Average Net Assets |
1.13% |
1.60% |
1.79%4
|
Portfolio Turnover Rate |
4%5
|
18% |
11%5,6 |
|
|
1 |
Inception. |
2 |
Calculated based on average shares outstanding. |
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 |
Annualized. |
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. |
6 |
Reflects the fund’s portfolio turnover for the fiscal year ended August 31, 2019. |
Web |
|
Vanguard.com |
For the most complete source of Vanguard news
For fund, account, and service information
For most account transactions
For literature requests
24 hours a day, 7 days a week |
Phone | |
Vanguard Tele-Account®
800-662-6273 |
For automated fund and account information
Toll-free, 24 hours a day, 7 days a week |
Investor Information 800-662-7447
(Text telephone for people with
hearing impairment at 800-749-7273) |
For fund and service information
For literature requests |
Client Services 800-662-2739
(Text telephone for people with
hearing impairment at 800-749-7273) |
For account information
For most account transactions |
Participant Services 800-523-1188
(Text telephone for people with
hearing impairment at 800-749-7273) |
For information and services for participants in
employer-sponsored plans |
Institutional Division
888-809-8102 |
For information and services for large institutional
investors |
Financial Advisor and Intermediary
Sales Support 800-997-2798 |
For information and services for financial intermediaries
including financial advisors, broker-dealers, trust
institutions, and insurance companies |
Financial Advisory and Intermediary
Trading Support 800-669-0498 |
For account information and trading support for
financial intermediaries including financial advisors,
broker-dealers, trust institutions, and insurance
companies |
|
Inception
Date |
Newspaper
Abbreviation |
Vanguard
Fund Number |
CUSIP
Number |
FTSE Social Index Fund | ||||
Admiral Shares |
2/7/2019 |
FTSESocAdml |
513 |
921910717 |
| |
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 FTSE Social Index Fund Institutional Shares |
|
|
|
Return Before Taxes |
|
|
|
Return After Taxes on Distributions |
|
|
|
Return After Taxes on Distributions and Sale of Fund Shares |
|
|
|
FTSE4Good US Select 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 FTSE Social Index Fund
Institutional Shares’ expense ratio would be 0.12%, or $1.20 per $1,000 of
average net assets. The average expense ratio for large-cap growth funds in
2020 was 0.99%, or $9.90 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 |
The Vanguard Group is owned jointly by the funds it oversees and thus
indirectly by the shareholders in those funds. Most other mutual funds are
operated by management companies that are owned by third parties—either
public or private stockholders—and not by the funds they serve. |
Plain Talk About Distributions |
As a shareholder, you are entitled to your portion of a fund’s income from
interest and dividends as well as capital gains from the fund’s sale of
investments. Income consists of both the dividends that the fund earns from
any stock holdings and the interest it receives from any money market and
bond investments. Capital gains are realized whenever the fund sells
securities for higher prices than it paid for them. These capital gains are
either short-term or long-term, depending on whether the fund held the
securities for one year or less or for more than one year. |
Plain Talk About Buying a Dividend |
Unless you are a tax-exempt investor or investing through a tax-advantaged
account (such as an IRA or an employer-sponsored retirement or savings
plan), you should consider avoiding a purchase of fund shares shortly before
the fund makes a distribution, because doing so can cost you money in
taxes. This is known as “buying a dividend.” For example: On December 15,
you invest $5,000, buying 250 shares for $20 each. If the fund pays a
distribution of $1 per share on December 16, its share price will drop to $19
(not counting market change). You still have only $5,000 (250 shares x $19 =
$4,750 in share value, plus 250 shares x $1 = $250 in distributions), but you
owe tax on the $250 distribution you received—even if you reinvest it in
more shares. To avoid buying a dividend, check a fund’s distribution schedule
before you invest. |
|
Year Ended August 31, | ||||
For a Share Outstanding Throughout Each Period |
2021 |
2020 |
2019 |
2018 |
2017 |
Net Asset Value, Beginning of Period |
$24.67 |
$19.63 |
$19.28 |
$16.15 |
$13.96 |
Investment Operations |
|
|
|
|
|
Net Investment Income1 |
.317 |
.339 |
.314 |
.305 |
.271 |
Net Realized and Unrealized Gain (Loss) on Investments |
7.282 |
5.037 |
.351 |
3.105 |
2.175 |
Total from Investment Operations |
7.599 |
5.376 |
.665 |
3.410 |
2.446 |
Distributions |
|
|
|
|
|
Dividends from Net Investment Income |
(.309) |
(.336) |
(.315) |
(.280) |
(.256) |
Distributions from Realized Capital Gains |
— |
— |
— |
— |
— |
Total Distributions |
(.309) |
(.336) |
(.315) |
(.280) |
(.256) |
Net Asset Value, End of Period |
$31.96 |
$24.67 |
$19.63 |
$19.28 |
$16.15 |
Total Return |
31.09% |
27.86% |
3.58% |
21.34% |
17.72% |
Ratios/Supplemental Data |
|
|
|
|
|
Net Assets, End of Period (Millions) |
$6,630 |
$4,003 |
$2,701 |
$2,349 |
$1,443 |
Ratio of Total Expenses to Average Net Assets |
0.12% |
0.12% |
0.12% |
0.12% |
0.12% |
Ratio of Net Investment Income to Average Net Assets |
1.15% |
1.62% |
1.49% |
1.71% |
1.79% |
Portfolio Turnover Rate |
4%2
|
18% |
11%2
|
8%2
|
11%2 |
|
|
1 |
Calculated based on average shares outstanding. |
2 |
Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of
the fund’s capital shares. |
Web |
|
Vanguard.com |
For the most complete source of Vanguard news
For fund, account, and service information
For most account transactions
For literature requests
24 hours a day, 7 days a week |
Phone | |
Vanguard Tele-Account®
800-662-6273 |
For automated fund and account information
Toll-free, 24 hours a day, 7 days a week |
Investor Information 800-662-7447
(Text telephone for people with
hearing impairment at 800-749-7273) |
For fund and service information
For literature requests |
Client Services 800-662-2739
(Text telephone for people with
hearing impairment at 800-749-7273) |
For account information
For most account transactions |
Participant Services 800-523-1188
(Text telephone for people with
hearing impairment at 800-749-7273) |
For information and services for participants in
employer-sponsored plans |
Institutional Division
888-809-8102 |
For information and services for large institutional
investors |
Financial Advisor and Intermediary
Sales Support 800-997-2798 |
For information and services for financial intermediaries
including financial advisors, broker-dealers, trust
institutions, and insurance companies |
Financial Advisory and Intermediary
Trading Support 800-669-0498 |
For account information and trading support for
financial intermediaries including financial advisors,
broker-dealers, trust institutions, and insurance
companies |
|
Inception
Date |
Newspaper
Abbreviation |
Vanguard
Fund Number |
CUSIP
Number |
FTSE Social Index Fund | ||||
Institutional Shares |
1/14/2003
(Admiral Shares
2/7/2019) |
FTScInst |
223 |
921910402 |
| |
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 $10,000) |
$ |
| |
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 Communication Services Index Fund
Admiral Shares |
|
|
|
Return Before Taxes |
|
|
|
Return After Taxes on Distributions |
|
|
|
Return After Taxes on Distributions and Sale of Fund Shares |
|
|
|
Communication Services Spliced Index1
(reflects no deduction for fees, expenses, or taxes) |
|
|
|
MSCI US IMI/Communication Services 25/50
(reflects no deduction for fees, expenses, or taxes) |
|
|
|
MSCI US Investable Market 2500 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 $10,000) |
$ |
| |
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 Consumer Discretionary Index Fund
Admiral Shares |
|
|
|
Return Before Taxes |
|
|
|
Return After Taxes on Distributions |
|
|
|
Return After Taxes on Distributions and Sale of Fund Shares |
|
|
|
Consumer Discretionary Spliced Index1
(reflects no deduction for fees, expenses, or taxes) |
|
|
|
MSCI US IMI/Consumer Discretionary 25/50
(reflects no deduction for fees, expenses, or taxes) |
|
|
|
MSCI US Investable Market 2500 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 $10,000) |
$ |
| |
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 Consumer Staples Index Fund Admiral Shares |
|
|
|
Return Before Taxes |
|
|
|
Return After Taxes on Distributions |
|
|
|
Return After Taxes on Distributions and Sale of Fund Shares |
|
|
|
MSCI US IMI/Consumer Staples 25/50
(reflects no deduction for fees, expenses, or taxes) |
|
|
|
MSCI US Investable Market 2500 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 $10,000) |
$ |
| |
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 Energy Index Fund Admiral Shares |
|
|
|
Return Before Taxes |
- |
- |
- |
Return After Taxes on Distributions |
- |
- |
- |
Return After Taxes on Distributions and Sale of Fund Shares |
- |
- |
- |
MSCI US IMI/Energy 25/50
(reflects no deduction for fees, expenses, or taxes) |
- |
- |
- |
MSCI US Investable Market 2500 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 $10,000) |
$ |
| |
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 Financials Index Fund Admiral Shares |
|
|
|
Return Before Taxes |
- |
|
|
Return After Taxes on Distributions |
- |
|
|
Return After Taxes on Distributions and Sale of Fund Shares |
- |
|
|
MSCI US IMI/Financials 25/50
(reflects no deduction for fees, expenses, or taxes) |
- |
|
|
MSCI US Investable Market 2500 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 $10,000) |
$ |
| |
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 Health Care Index Fund Admiral Shares |
|
|
|
Return Before Taxes |
|
|
|
Return After Taxes on Distributions |
|
|
|
Return After Taxes on Distributions and Sale of Fund Shares |
|
|
|
MSCI US IMI/Health Care 25/50
(reflects no deduction for fees, expenses, or taxes) |
|
|
|
MSCI US Investable Market 2500 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 $10,000) |
$ |
| |
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 Industrials Index Fund Admiral Shares |
|
|
|
Return Before Taxes |
|
|
|
Return After Taxes on Distributions |
|
|
|
Return After Taxes on Distributions and Sale of Fund Shares |
|
|
|
MSCI US IMI/Industrials 25/50
(reflects no deduction for fees, expenses, or taxes) |
|
|
|
MSCI US Investable Market 2500 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 $10,000) |
$ |
| |
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 Information Technology Index Fund
Admiral Shares |
|
|
|
Return Before Taxes |
|
|
|
Return After Taxes on Distributions |
|
|
|
Return After Taxes on Distributions and Sale of Fund Shares |
|
|
|
Information Technology Spliced Index1
(reflects no deduction for fees, expenses, or taxes) |
|
|
|
MSCI US IMI/Information Technology 25/50
(reflects no deduction for fees, expenses, or taxes) |
|
|
|
MSCI US Investable Market 2500 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 $10,000) |
$ |
| |
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 Materials Index Fund Admiral Shares |
|
|
|
Return Before Taxes |
|
|
|
Return After Taxes on Distributions |
|
|
|
Return After Taxes on Distributions and Sale of Fund Shares |
|
|
|
MSCI US IMI/Materials 25/50
(reflects no deduction for fees, expenses, or taxes) |
|
|
|
MSCI US Investable Market 2500 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 $10,000) |
$ |
| |
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 Utilities Index Fund Admiral Shares |
|
|
|
Return Before Taxes |
- |
|
|
Return After Taxes on Distributions |
- |
|
|
Return After Taxes on Distributions and Sale of Fund Shares |
|
|
|
MSCI US IMI/Utilities 25/50
(reflects no deduction for fees, expenses, or taxes) |
- |
|
|
MSCI US Investable Market 2500 Index
(reflects no deduction for fees, expenses, or taxes) |
|
|
|
Communication Services |
Health Care |
|
|
Consumer Discretionary |
Industrials |
|
|
Consumer Staples |
Information Technology |
|
|
Energy |
Materials |
|
|
Financials |
Utilities |
|
|
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. |
Sectors and Key Past Performance Factors |
Communication Services Sector:
Overall economic conditions, competition, and government regulation. |
Consumer Discretionary Sector:
Overall economic conditions, interest rates, consumer confidence, and disposable income. |
Consumer Staples Sector:
Consumer tastes, government regulation, marketing, and consumer confidence. |
Energy Sector:
Geopolitical events, government regulation, economic cycles, and fuel prices. |
Financials Sector:
Government regulation, interest rates, cost of capital funds, credit losses, and financial
markets. |
Health Care Sector:
Patent protection, government regulation, research and development costs, litigation, and
competitive forces. |
Industrials Sector:
Government regulation, world events and economic conditions, insurance costs, and labor
relations issues. |
Information Technology Sector:
Overall economic conditions, short product cycles, rapid obsolescence of products,
competition, and government regulation. |
Materials Sector:
Commodity prices, government regulation, inflation expectations, resource availability, and
economic cycles. |
Utilities Sector:
Government regulation, overall economic conditions, and fuel prices. |
Target Index |
Large-Cap
˃$36.06 billion |
Mid-Cap
$6.46 - $36.06 billion |
Small-Cap
˂$6.46 billion |
MSCI US Investable Market Index
(IMI)/Communication Services 25/50 |
77.20% |
15.30% |
7.50% |
MSCI US Investable Market Index
(IMI)/Consumer Discretionary 25/50 |
67.90 |
22.50 |
9.60 |
MSCI US Investable Market Index
(IMI)/Consumer Staples 25/50 |
76.90 |
16.60 |
6.40 |
MSCI US Investable Market Index
(IMI)/Energy 25/50 |
61.50 |
27.20 |
11.30 |
MSCI US Investable Market Index
(IMI)/Financials 25/50 |
70.00 |
19.30 |
10.70 |
MSCI US Investable Market Index
(IMI)/Health Care 25/50 |
74.70 |
17.30 |
8.00 |
MSCI US Investable Market Index
(IMI)/Industrials 25/50 |
55.40 |
32.40 |
12.00 |
MSCI US Investable Market Index
(IMI)/Information Technology 25/50 |
85.40 |
11.20 |
3.40 |
MSCI US Investable Market Index
(IMI)/Materials 25/50 |
48.50 |
38.90 |
12.60 |
MSCI US Investable Market Index
(IMI)/Utilities 25/50 |
49.50 |
42.20 |
8.20 |
Vanguard Fund |
Number of Stocks
in Target Index |
|
Percentage of
Index Holdings in
Top 10 Stocks |
Communication Services Index Fund |
113 |
|
69.58% |
Consumer Discretionary Index Fund |
295 |
|
56.48 |
Consumer Staples Index Fund |
97 |
|
65.42 |
Energy Index Fund |
94 |
|
67.22 |
Financials Index Fund |
394 |
|
41.96 |
Health Care Index Fund |
450 |
|
41.12 |
Industrials Index Fund |
356 |
|
29.42 |
Information Technology Index Fund |
337 |
|
58.40 |
Materials Index Fund |
117 |
|
48.48 |
Utilities Index Fund |
64 |
|
55.45 |
Plain Talk About Derivatives |
Derivatives can take many forms. Some forms of derivatives—such as
exchange-traded futures and options on securities, commodities, or
indexes—have been trading on regulated exchanges for decades. These
types of derivatives are standardized contracts that can easily be bought and
sold and whose market values are determined and published daily. On the
other hand, non-exchange-traded derivatives—such as certain swap
agreements—tend to be more specialized or complex and may be more
difficult to accurately value. |
Plain Talk About Vanguard’s Unique Corporate Structure |
The Vanguard Group is owned jointly by the funds it oversees and thus
indirectly by the shareholders in those funds. Most other mutual funds are
operated by management companies that are owned by third parties—either
public or private stockholders—and not by the funds they serve. |
Plain Talk About Distributions |
As a shareholder, you are entitled to your portion of a fund’s income from
interest and dividends as well as capital gains from the fund’s sale of
investments. Income consists of both the dividends that the fund earns from
any stock holdings and the interest it receives from any money market and
bond investments. Capital gains are realized whenever the fund sells
securities for higher prices than it paid for them. These capital gains are
either short-term or long-term, depending on whether the fund held the
securities for one year or less or for more than one year. |
Plain Talk About Buying a Dividend |
Unless you are a tax-exempt investor or investing through a tax-advantaged
account (such as an IRA or an employer-sponsored retirement or savings
plan), you should consider avoiding a purchase of fund shares shortly before
the fund makes a distribution, because doing so can cost you money in
taxes. This is known as “buying a dividend.” For example: On December 15,
you invest $5,000, buying 250 shares for $20 each. If the fund pays a
distribution of $1 per share on December 16, its share price will drop to $19
(not counting market change). You still have only $5,000 (250 shares x $19 =
$4,750 in share value, plus 250 shares x $1 = $250 in distributions), but you
owe tax on the $250 distribution you received—even if you reinvest it in
more shares. To avoid buying a dividend, check a fund’s distribution schedule
before you invest. |
|
Year Ended August 31, | ||||
For a Share Outstanding Throughout Each Period |
2021 |
2020 |
2019 |
2018 |
2017 |
Net Asset Value, Beginning of Period |
$55.06 |
$44.46 |
$44.25 |
$47.67 |
$48.50 |
Investment Operations |
|
|
|
|
|
Net Investment Income1 |
.519 |
.512 |
.470 |
1.554 |
1.601 |
Net Realized and Unrealized Gain (Loss) on Investments |
21.259 |
10.571 |
.157 |
(3.199) |
(.829) |
Total from Investment Operations |
21.778 |
11.083 |
.627 |
(1.645) |
.772 |
Distributions |
|
|
|
|
|
Dividends from Net Investment Income |
(.458) |
(.483) |
(.417) |
(1.775) |
(1.602) |
Distributions from Realized Capital Gains |
— |
— |
— |
— |
— |
Total Distributions |
(.458) |
(.483) |
(.417) |
(1.775) |
(1.602) |
Net Asset Value, End of Period |
$76.38 |
$55.06 |
$44.46 |
$44.25 |
$47.67 |
Total Return2 |
39.76% |
25.16% |
1.46% |
-3.48% |
1.61% |
Ratios/Supplemental Data |
|
|
|
|
|
Net Assets, End of Period (Millions) |
$124 |
$67 |
$50 |
$46 |
$50 |
Ratio of Total Expenses to Average Net Assets |
0.10% |
0.10% |
0.10% |
0.10% |
0.10% |
Ratio of Net Investment Income to Average Net Assets |
0.79% |
1.10% |
1.09% |
3.48% |
3.26% |
Portfolio Turnover Rate3 |
15% |
15% |
33% |
84% |
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 |
Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of
the fund’s capital shares, including ETF Creation Units. |
|
Year Ended August 31, | ||||
For a Share Outstanding Throughout Each Period |
2021 |
2020 |
2019 |
2018 |
2017 |
Net Asset Value, Beginning of Period |
$127.78 |
$92.40 |
$93.61 |
$73.36 |
$65.45 |
Investment Operations |
|
|
|
|
|
Net Investment Income1 |
.889 |
1.033 |
1.058 |
1.073 |
1.071 |
Net Realized and Unrealized Gain (Loss) on Investments |
39.704 |
35.512 |
(1.232) |
20.205 |
7.890 |
Total from Investment Operations |
40.593 |
36.545 |
(.174) |
21.278 |
8.961 |
Distributions |
|
|
|
|
|
Dividends from Net Investment Income |
(2.223) |
(1.165) |
(1.036) |
(1.028) |
(1.051) |
Distributions from Realized Capital Gains |
— |
— |
— |
— |
— |
Total Distributions |
(2.223) |
(1.165) |
(1.036) |
(1.028) |
(1.051) |
Net Asset Value, End of Period |
$166.15 |
$127.78 |
$92.40 |
$93.61 |
$73.36 |
Total Return2 |
32.39% |
40.01% |
-0.14% |
29.24% |
13.81% |
Ratios/Supplemental Data |
|
|
|
|
|
Net Assets, End of Period (Millions) |
$753 |
$437 |
$321 |
$328 |
$204 |
Ratio of Total Expenses to Average Net Assets |
0.10% |
0.10% |
0.10% |
0.10% |
0.10% |
Ratio of Net Investment Income to Average Net Assets |
0.60% |
1.06% |
1.20% |
1.28% |
1.53% |
Portfolio Turnover Rate3 |
8% |
10% |
9% |
28% |
6% |
|
|
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 |
Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of
the fund’s capital shares, including ETF Creation Units. |
|
Year Ended August 31, | ||||
For a Share Outstanding Throughout Each Period |
2021 |
2020 |
2019 |
2018 |
2017 |
Net Asset Value, Beginning of Period |
$82.50 |
$76.29 |
$69.09 |
$69.10 |
$69.02 |
Investment Operations |
|
|
|
|
|
Net Investment Income1 |
2.160 |
1.973 |
1.923 |
1.776 |
1.797 |
Net Realized and Unrealized Gain (Loss) on Investments |
10.032 |
6.239 |
7.076 |
(.018) |
.101 |
Total from Investment Operations |
12.192 |
8.212 |
8.999 |
1.758 |
1.898 |
Distributions |
|
|
|
|
|
Dividends from Net Investment Income |
(2.183) |
(2.002) |
(1.799) |
(1.768) |
(1.818) |
Distributions from Realized Capital Gains |
— |
— |
— |
— |
— |
Total Distributions |
(2.183) |
(2.002) |
(1.799) |
(1.768) |
(1.818) |
Net Asset Value, End of Period |
$92.51 |
$82.50 |
$76.29 |
$69.09 |
$69.10 |
Total Return2 |
15.04% |
11.03% |
13.24% |
2.59% |
2.81% |
Ratios/Supplemental Data |
|
|
|
|
|
Net Assets, End of Period (Millions) |
$846 |
$791 |
$710 |
$587 |
$742 |
Ratio of Total Expenses to Average Net Assets |
0.10% |
0.10% |
0.10% |
0.10% |
0.10% |
Ratio of Net Investment Income to Average Net Assets |
2.50% |
2.59% |
2.71% |
2.60% |
2.63% |
Portfolio Turnover Rate3 |
8% |
3% |
6% |
8% |
5% |
|
|
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 |
Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of
the fund’s capital shares, including ETF Creation Units. |
|
Year Ended August 31, | ||||
For a Share Outstanding Throughout Each Period |
2021 |
2020 |
2019 |
2018 |
2017 |
Net Asset Value, Beginning of Period |
$23.93 |
$37.84 |
$51.52 |
$42.82 |
$47.49 |
Investment Operations |
|
|
|
|
|
Net Investment Income1 |
1.435 |
1.461 |
1.388 |
1.249 |
21.375 |
Net Realized and Unrealized Gain (Loss) on Investments |
9.855 |
(14.001) |
(13.720) |
8.916 |
(4.863) |
Total from Investment Operations |
11.290 |
(12.540) |
(12.332) |
10.165 |
(3.488) |
Distributions |
|
|
|
|
|
Dividends from Net Investment Income |
(1.250) |
(1.370) |
(1.348) |
(1.465) |
(1.182) |
Distributions from Realized Capital Gains |
— |
— |
— |
— |
— |
Total Distributions |
(1.250) |
(1.370) |
(1.348) |
(1.465) |
(1.182) |
Net Asset Value, End of Period |
$33.97 |
$23.93 |
$37.84 |
$51.52 |
$42.82 |
Total Return3 |
48.18% |
-33.82% |
-24.33% |
24.06% |
-7.56% |
Ratios/Supplemental Data |
|
|
|
|
|
Net Assets, End of Period (Millions) |
$1,100 |
$407 |
$468 |
$642 |
$523 |
Ratio of Total Expenses to Average Net Assets |
0.10% |
0.10% |
0.10% |
0.10% |
0.10% |
Ratio of Net Investment Income to Average Net Assets |
4.52% |
4.84% |
3.15% |
2.56% |
2.93%2 |
Portfolio Turnover Rate4 |
5% |
8% |
7% |
5% |
11% |
|
|
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 $.228 and
0.47%, respectively, from income received as a result of General Electric Co. and Baker Hughes Inc. merger in July
2017. |
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 |
Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of
the fund’s capital shares, including ETF Creation Units. |
|
Year Ended August 31, | ||||
For a Share Outstanding Throughout Each Period |
2021 |
2020 |
2019 |
2018 |
2017 |
Net Asset Value, Beginning of Period |
$30.66 |
$33.73 |
$35.88 |
$31.20 |
$25.47 |
Investment Operations |
|
|
|
|
|
Net Investment Income1 |
.841 |
.828 |
.771 |
.651 |
.514 |
Net Realized and Unrealized Gain (Loss) on Investments |
16.803 |
(3.046) |
(2.174) |
4.663 |
5.704 |
Total from Investment Operations |
17.644 |
(2.218) |
(1.403) |
5.314 |
6.218 |
Distributions |
|
|
|
|
|
Dividends from Net Investment Income |
(.794) |
(.852) |
(.747) |
(.634) |
(.488) |
Distributions from Realized Capital Gains |
— |
— |
— |
— |
— |
Total Distributions |
(.794) |
(.852) |
(.747) |
(.634) |
(.488) |
Net Asset Value, End of Period |
$47.51 |
$30.66 |
$33.73 |
$35.88 |
$31.20 |
Total Return2 |
58.32% |
-6.70% |
-3.87% |
17.16% |
24.62% |
Ratios/Supplemental Data |
|
|
|
|
|
Net Assets, End of Period (Millions) |
$822 |
$432 |
$490 |
$690 |
$518 |
Ratio of Total Expenses to Average Net Assets |
0.10% |
0.10% |
0.10% |
0.10% |
0.10% |
Ratio of Net Investment Income to Average Net Assets |
2.09% |
2.53% |
2.30% |
1.87% |
1.75% |
Portfolio Turnover Rate3 |
4% |
5% |
5% |
3% |
5% |
|
|
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 |
Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of
the fund’s capital shares, including ETF Creation Units. |
|
Year Ended August 31, | ||||
For a Share Outstanding Throughout Each Period |
2021 |
2020 |
2019 |
2018 |
2017 |
Net Asset Value, Beginning of Period |
$103.87 |
$84.91 |
$88.57 |
$75.60 |
$66.65 |
Investment Operations |
|
|
|
|
|
Net Investment Income1 |
1.450 |
1.351 |
21.804
|
1.101 |
.996 |
Net Realized and Unrealized Gain (Loss) on Investments |
27.365 |
18.884 |
(3.727) |
12.920 |
8.934 |
Total from Investment Operations |
28.815 |
20.235 |
(1.923) |
14.021 |
9.930 |
Distributions |
|
|
|
|
|
Dividends from Net Investment Income |
(1.425) |
(1.275) |
(1.737) |
(1.051) |
(.980) |
Distributions from Realized Capital Gains |
— |
— |
— |
— |
— |
Total Distributions |
(1.425) |
(1.275) |
(1.737) |
(1.051) |
(.980) |
Net Asset Value, End of Period |
$131.26 |
$103.87 |
$84.91 |
$88.57 |
$75.60 |
Total Return3 |
28.01% |
24.06% |
-2.21% |
18.74% |
15.07% |
Ratios/Supplemental Data |
|
|
|
|
|
Net Assets, End of Period (Millions) |
$2,972 |
$1,676 |
$1,316 |
$1,248 |
$924 |
Ratio of Total Expenses to Average Net Assets |
0.10% |
0.10% |
0.10% |
0.10% |
0.10% |
Ratio of Net Investment Income to Average Net Assets |
1.25% |
1.45% |
2.12%2
|
1.38% |
1.46% |
Portfolio Turnover Rate4 |
5% |
7% |
5% |
6% |
4% |
|
|
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 $.566 and
0.67%, respectively, resulting from a cash payment received in connection with the merger of Cigna Corp. and
Express Scripts Holding Co. in December 2018. |
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 |
Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of
the fund’s capital shares, including ETF Creation Units. |
|
Year Ended August 31, | ||||
For a Share Outstanding Throughout Each Period |
2021 |
2020 |
2019 |
2018 |
2017 |
Net Asset Value, Beginning of Period |
$75.46 |
$73.22 |
$75.07 |
$66.12 |
$57.32 |
Investment Operations |
|
|
|
|
|
Net Investment Income1 |
1.162 |
1.221 |
1.340 |
1.154 |
1.237 |
Net Realized and Unrealized Gain (Loss) on Investments |
26.880 |
2.336 |
(1.941) |
8.955 |
8.721 |
Total from Investment Operations |
28.042 |
3.557 |
(.601) |
10.109 |
9.958 |
Distributions |
|
|
|
|
|
Dividends from Net Investment Income |
(1.132) |
(1.317) |
(1.249) |
(1.159) |
(1.158) |
Distributions from Realized Capital Gains |
— |
— |
— |
— |
— |
Total Distributions |
(1.132) |
(1.317) |
(1.249) |
(1.159) |
(1.158) |
Net Asset Value, End of Period |
$102.37 |
$75.46 |
$73.22 |
$75.07 |
$66.12 |
Total Return2 |
37.43% |
4.98% |
-0.75% |
15.41% |
17.55% |
Ratios/Supplemental Data |
|
|
|
|
|
Net Assets, End of Period (Millions) |
$372 |
$210 |
$202 |
$213 |
$176 |
Ratio of Total Expenses to Average Net Assets |
0.10% |
0.10% |
0.10% |
0.10% |
0.10% |
Ratio of Net Investment Income to Average Net Assets |
1.25% |
1.71% |
1.87% |
1.62% |
1.95% |
Portfolio Turnover Rate3 |
5% |
4% |
4% |
4% |
5% |
|
|
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 |
Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of
the fund’s capital shares. |
|
Year Ended August 31, | ||||
For a Share Outstanding Throughout Each Period |
2021 |
2020 |
2019 |
2018 |
2017 |
Net Asset Value, Beginning of Period |
$168.23 |
$109.40 |
$103.86 |
$77.42 |
$60.33 |
Investment Operations |
|
|
|
|
|
Net Investment Income1 |
1.353 |
1.504 |
1.326 |
1.001 |
.850 |
Net Realized and Unrealized Gain (Loss) on
Investments |
50.136 |
58.864 |
5.509 |
26.324 |
17.062 |
Total from Investment Operations |
51.489 |
60.368 |
6.835 |
27.325 |
17.912 |
Distributions |
|
|
|
|
|
Dividends from Net Investment Income |
(1.339) |
(1.538) |
(1.295) |
(.885) |
(.822) |
Distributions from Realized Capital Gains |
— |
— |
— |
— |
— |
Total Distributions |
(1.339) |
(1.538) |
(1.295) |
(.885) |
(.822) |
Net Asset Value, End of Period |
$218.38 |
$168.23 |
$109.40 |
$103.86 |
$77.42 |
Total Return2 |
30.81% |
55.78% |
6.70% |
35.54% |
29.94% |
Ratios/Supplemental Data |
|
|
|
|
|
Net Assets, End of Period (Millions) |
$7,301 |
$5,149 |
$2,470 |
$2,033 |
$933 |
Ratio of Total Expenses to Average Net Assets |
0.10% |
0.10% |
0.10% |
0.10% |
0.10% |
Ratio of Net Investment Income to Average Net
Assets |
0.73% |
1.17% |
1.32% |
1.10% |
1.24% |
Portfolio Turnover Rate3 |
4% |
5% |
5% |
7% |
6% |
|
|
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 |
Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of
the fund’s capital shares, including ETF Creation Units. |
|
Year Ended August 31, | ||||
For a Share Outstanding Throughout Each Period |
2021 |
2020 |
2019 |
2018 |
2017 |
Net Asset Value, Beginning of Period |
$68.70 |
$62.57 |
$68.45 |
$63.33 |
$55.11 |
Investment Operations |
|
|
|
|
|
Net Investment Income1 |
1.424 |
1.294 |
1.282 |
1.159 |
1.104 |
Net Realized and Unrealized Gain (Loss) on Investments |
26.507 |
6.130 |
(5.892) |
5.084 |
8.195 |
Total from Investment Operations |
27.931 |
7.424 |
(4.610) |
6.243 |
9.299 |
Distributions |
|
|
|
|
|
Dividends from Net Investment Income |
(1.341) |
(1.294) |
(1.270) |
(1.123) |
(1.079) |
Distributions from Realized Capital Gains |
— |
— |
— |
— |
— |
Total Distributions |
(1.341) |
(1.294) |
(1.270) |
(1.123) |
(1.079) |
Net Asset Value, End of Period |
$95.29 |
$68.70 |
$62.57 |
$68.45 |
$63.33 |
Total Return2 |
41.04% |
12.14% |
-6.74% |
9.91% |
17.06% |
Ratios/Supplemental Data |
|
|
|
|
|
Net Assets, End of Period (Millions) |
$1,078 |
$583 |
$482 |
$452 |
$372 |
Ratio of Total Expenses to Average Net Assets |
0.10% |
0.10% |
0.10% |
0.10% |
0.10% |
Ratio of Net Investment Income to Average Net Assets |
1.67% |
2.08% |
2.04% |
1.71% |
1.87% |
Portfolio Turnover Rate3 |
5% |
4% |
4% |
5% |
5% |
|
|
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 |
Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of
the fund’s capital shares, including ETF Creation Units. |
|
Year Ended August 31, | ||||
For a Share Outstanding Throughout Each Period |
2021 |
2020 |
2019 |
2018 |
2017 |
Net Asset Value, Beginning of Period |
$64.89 |
$69.78 |
$59.86 |
$60.58 |
$53.86 |
Investment Operations |
|
|
|
|
|
Net Investment Income1 |
2.166 |
2.163 |
2.038 |
1.883 |
1.863 |
Net Realized and Unrealized Gain (Loss) on Investments |
10.055 |
(4.924) |
9.828 |
(.719) |
6.698 |
Total from Investment Operations |
12.221 |
(2.761) |
11.866 |
1.164 |
8.561 |
Distributions |
|
|
|
|
|
Dividends from Net Investment Income |
(2.101) |
(2.129) |
(1.946) |
(1.884) |
(1.841) |
Distributions from Realized Capital Gains |
— |
— |
— |
— |
— |
Total Distributions |
(2.101) |
(2.129) |
(1.946) |
(1.884) |
(1.841) |
Net Asset Value, End of Period |
$75.01 |
$64.89 |
$69.78 |
$59.86 |
$60.58 |
Total Return2 |
19.22% |
-4.05% |
20.19% |
2.04% |
16.24% |
Ratios/Supplemental Data |
|
|
|
|
|
Net Assets, End of Period (Millions) |
$1,582 |
$1,281 |
$1,266 |
$868 |
$845 |
Ratio of Total Expenses to Average Net Assets |
0.10% |
0.10% |
0.10% |
0.10% |
0.10% |
Ratio of Net Investment Income to Average Net Assets |
3.10% |
3.18% |
3.22% |
3.25% |
3.33% |
Portfolio Turnover Rate3 |
6% |
5% |
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 |
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 |
|
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Phone | |
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For account information and trading support for
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broker-dealers, trust institutions, and insurance
companies |
|
Inception
Date |
Newspaper
Abbreviation |
Vanguard
Fund Number |
CUSIP
Number |
Communication Services Index
Fund |
|
|
|
|
Admiral Shares |
3/11/2005 |
ComSvcIdx r |
5488 |
92204A777 |
Consumer Discretionary Index
Fund |
|
|
|
|
Admiral Shares |
7/14/2005 |
CoDilxAd |
5483 |
92204A868 |
Consumer Staples Index Fund |
|
|
|
|
Admiral Shares |
1/30/2004 |
CoStlxAd |
5484 |
92204A850 |
Energy Index Fund |
|
|
|
|
Admiral Shares |
10/7/2004 |
EnergyAd |
5480 |
92204A843 |
Financials Index Fund |
|
|
|
|
Admiral Shares |
2/4/2004 |
FinlxdAd |
5486 |
92204A835 |
Health Care Index Fund |
|
|
|
|
Admiral Shares |
2/5/2004 |
HltClxAd |
5485 |
92204A827 |
Industrials Index Fund |
|
|
|
|
Admiral Shares |
5/8/2006 |
IndustAd |
5482 |
92204A819 |
Information Technology Index
Fund |
|
|
|
|
Admiral Shares |
3/25/2004 |
InfTecAd |
5487 |
92204A793 |
Materials Index Fund |
|
|
|
|
Admiral Shares |
2/11/2004 |
MatrlxAd |
5481 |
92204A785 |
Utilities Index Fund |
|
|
|
|
Admiral Shares |
4/28/2004 |
UtillxAd |
5489 |
92204A769 |
| |
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 Communication Services 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 |
|
|
|
Communication Services Spliced Index1
(reflects no deduction for fees, expenses, or taxes) |
|
|
|
MSCI US IMI/Communication Services 25/50
(reflects no deduction for fees, expenses, or taxes) |
|
|
|
MSCI US Investable Market 2500 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 Consumer Discretionary 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 |
|
|
|
Consumer Discretionary Spliced Index1
(reflects no deduction for fees, expenses, or taxes) |
|
|
|
MSCI US IMI/Consumer Discretionary 25/50
(reflects no deduction for fees, expenses, or taxes) |
|
|
|
MSCI US Investable Market 2500 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 Consumer Staples 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 |
|
|
|
MSCI US IMI/Consumer Staples 25/50
(reflects no deduction for fees, expenses, or taxes) |
|
|
|
MSCI US Investable Market 2500 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 Energy 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 |
- |
- |
- |
MSCI US IMI/Energy 25/50
(reflects no deduction for fees, expenses, or taxes) |
- |
- |
- |
MSCI US Investable Market 2500 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 Financials 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 |
- |
|
|
MSCI US IMI/Financials 25/50
(reflects no deduction for fees, expenses, or taxes) |
- |
|
|
MSCI US Investable Market 2500 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 Health Care 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 |
|
|
|
MSCI US IMI/Health Care 25/50
(reflects no deduction for fees, expenses, or taxes) |
|
|
|
MSCI US Investable Market 2500 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 Industrials 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 |
|
|
|
MSCI US IMI/Industrials 25/50
(reflects no deduction for fees, expenses, or taxes) |
|
|
|
MSCI US Investable Market 2500 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 Information Technology 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 |
|
|
|
Information Technology Spliced Index1
(reflects no deduction for fees, expenses, or taxes) |
|
|
|
MSCI US IMI/Information Technology 25/50
(reflects no deduction for fees, expenses, or taxes) |
|
|
|
MSCI US Investable Market 2500 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 Materials 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 |
|
|
|
MSCI US IMI/Materials 25/50
(reflects no deduction for fees, expenses, or taxes) |
|
|
|
MSCI US Investable Market 2500 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 Utilities 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 |
- |
|
|
MSCI US IMI/Utilities 25/50
(reflects no deduction for fees, expenses, or taxes) |
- |
|
|
MSCI US Investable Market 2500 Index
(reflects no deduction for fees, expenses, or taxes) |
|
|
|
Vanguard Fund |
Vanguard ETF Shares |
Communication Services Index Fund |
Communication Services ETF |
Consumer Discretionary Index Fund |
Consumer Discretionary ETF |
Consumer Staples Index Fund |
Consumer Staples ETF |
Energy Index Fund |
Energy ETF |
Financials Index Fund |
Financials ETF |
Health Care Index Fund |
Health Care ETF |
Industrials Index Fund |
Industrials ETF |
Information Technology Index Fund |
Information Technology ETF |
Materials Index Fund |
Materials ETF |
Utilities Index Fund |
Utilities ETF |
Communication Services |
Health Care |
|
|
Consumer Discretionary |
Industrials |
|
|
Consumer Staples |
Information Technology |
|
|
Energy |
Materials |
|
|
Financials |
Utilities |
|
|
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. |
Sectors and Key Past Performance Factors |
Communication Services Sector:
Overall economic conditions, competition, and government regulation. |
Consumer Discretionary Sector:
Overall economic conditions, interest rates, consumer confidence, and disposable income. |
Consumer Staples Sector:
Consumer tastes, government regulation, marketing, and consumer confidence. |
Energy Sector:
Geopolitical events, government regulation, economic cycles, and fuel prices. |
Financials Sector:
Government regulation, interest rates, cost of capital funds, credit losses, and financial
markets. |
Health Care Sector:
Patent protection, government regulation, research and development costs, litigation, and
competitive forces. |
Industrials Sector:
Government regulation, world events and economic conditions, insurance costs, and labor
relations issues. |
Information Technology Sector:
Overall economic conditions, short product cycles, rapid obsolescence of products,
competition, and government regulation. |
Materials Sector:
Commodity prices, government regulation, inflation expectations, resource availability, and
economic cycles. |
Utilities Sector:
Government regulation, overall economic conditions, and fuel prices. |
Target Index |
Large-Cap
˃$36.06 billion |
Mid-Cap
$6.46 - $36.06 billion |
Small-Cap
˂$6.46 billion |
MSCI US Investable Market Index
(IMI)/Communication Services 25/50 |
77.20% |
15.30% |
7.50% |
MSCI US Investable Market Index
(IMI)/Consumer Discretionary 25/50 |
67.90 |
22.50 |
9.60 |
MSCI US Investable Market Index
(IMI)/Consumer Staples 25/50 |
76.90 |
16.60 |
6.40 |
MSCI US Investable Market Index
(IMI)/Energy 25/50 |
61.50 |
27.20 |
11.30 |
MSCI US Investable Market Index
(IMI)/Financials 25/50 |
70.00 |
19.30 |
10.70 |
MSCI US Investable Market Index
(IMI)/Health Care 25/50 |
74.70 |
17.30 |
8.00 |
MSCI US Investable Market Index
(IMI)/Industrials 25/50 |
55.40 |
32.40 |
12.00 |
MSCI US Investable Market Index
(IMI)/Information Technology 25/50 |
85.40 |
11.20 |
3.40 |
MSCI US Investable Market Index
(IMI)/Materials 25/50 |
48.50 |
38.90 |
12.60 |
MSCI US Investable Market Index
(IMI)/Utilities 25/50 |
49.50 |
42.20 |
8.20 |
Vanguard Fund |
Number of Stocks
in Target Index |
|
Percentage of
Index Holdings in
Top 10 Stocks |
Communication Services Index Fund |
113 |
|
69.58% |
Consumer Discretionary Index Fund |
295 |
|
56.48 |
Consumer Staples Index Fund |
97 |
|
65.42 |
Energy Index Fund |
94 |
|
67.22 |
Financials Index Fund |
394 |
|
41.96 |
Health Care Index Fund |
450 |
|
41.12 |
Industrials Index Fund |
356 |
|
29.42 |
Information Technology Index Fund |
337 |
|
58.40 |
Materials Index Fund |
117 |
|
48.48 |
Utilities Index Fund |
64 |
|
55.45 |
Plain Talk About Derivatives |
Derivatives can take many forms. Some forms of derivatives—such as
exchange-traded futures and options on securities, commodities, or
indexes—have been trading on regulated exchanges for decades. These
types of derivatives are standardized contracts that can easily be bought and
sold and whose market values are determined and published daily. On the
other hand, non-exchange-traded derivatives—such as certain swap
agreements—tend to be more specialized or complex and may be more
difficult to accurately value. |
Plain Talk About Vanguard’s Unique Corporate Structure |
The Vanguard Group 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. |
|
Inception Date |
Vanguard
Fund Number |
CUSIP Number |
Communication Services Index Fund |
|
|
|
ETF Shares |
9/23/2004 |
959 |
92204A884 |
Consumer Discretionary Index Fund |
|
|
|
ETF Shares |
1/26/2004 |
954 |
92204A108 |
Consumer Staples Index Fund |
|
|
|
ETF Shares |
1/26/2004 |
955 |
92204A207 |
Energy Index Fund |
|
|
|
ETF Shares |
9/23/2004 |
951 |
92204A306 |
Financials Index Fund |
|
|
|
ETF Shares |
1/26/2004 |
957 |
92204A405 |
Health Care Index Fund |
|
|
|
ETF Shares |
1/26/2004 |
956 |
92204A504 |
Industrials Index Fund |
|
|
|
ETF Shares |
9/23/2004 |
953 |
92204A603 |
Information Technology Index Fund |
|
|
|
ETF Shares |
1/26/2004 |
958 |
92204A702 |
Materials Index Fund |
|
|
|
ETF Shares |
1/26/2004 |
952 |
92204A801 |
Utilities Index Fund |
|
|
|
ETF Shares |
1/26/2004 |
960 |
92204A876 |
|
Year Ended August 31, | ||||
For a Share Outstanding Throughout Each Period |
2021 |
2020 |
2019 |
2018 |
2017 |
Net Asset Value, Beginning of Period |
$108.04 |
$87.24 |
$86.83 |
$93.54 |
$95.16 |
Investment Operations |
|
|
|
|
|
Net Investment Income1 |
1.018 |
1.005 |
.917 |
3.067 |
3.108 |
Net Realized and Unrealized Gain (Loss) on Investments |
41.708 |
20.743 |
.316 |
(6.297) |
(1.587) |
Total from Investment Operations |
42.726 |
21.748 |
1.233 |
(3.230) |
1.521 |
Distributions |
|
|
|
|
|
Dividends from Net Investment Income |
(.896) |
(.948) |
(.823) |
(3.480) |
(3.141) |
Distributions from Realized Capital Gains |
— |
— |
— |
— |
— |
Total Distributions |
(.896) |
(.948) |
(.823) |
(3.480) |
(3.141) |
Net Asset Value, End of Period |
$149.87 |
$108.04 |
$87.24 |
$86.83 |
$93.54 |
Total Return |
39.75% |
25.15% |
1.47% |
-3.50% |
1.62% |
Ratios/Supplemental Data |
|
|
|
|
|
Net Assets, End of Period (Millions) |
$4,787 |
$2,914 |
$2,016 |
$1,015 |
$1,388 |
Ratio of Total Expenses to Average Net Assets |
0.10% |
0.10% |
0.10% |
0.10% |
0.10% |
Ratio of Net Investment Income to Average Net Assets |
0.80% |
1.09% |
1.09% |
3.48% |
3.26% |
Portfolio Turnover Rate2 |
15% |
15% |
33% |
84% |
18% |
|
|
1 |
Calculated based on average shares outstanding. |
2 |
Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of
the fund’s capital shares, including ETF Creation Units. |
|
Year Ended August 31, | ||||
For a Share Outstanding Throughout Each Period |
2021 |
2020 |
2019 |
2018 |
2017 |
Net Asset Value, Beginning of Period |
$246.86 |
$178.51 |
$180.85 |
$141.74 |
$126.45 |
Investment Operations |
|
|
|
|
|
Net Investment Income1 |
1.724 |
1.998 |
2.052 |
2.066 |
2.068 |
Net Realized and Unrealized Gain (Loss) on
Investments |
76.697 |
68.603 |
(2.391) |
39.031 |
15.248 |
Total from Investment Operations |
78.421 |
70.601 |
(.339) |
41.097 |
17.316 |
Distributions |
|
|
|
|
|
Dividends from Net Investment Income |
(4.291) |
(2.251) |
(2.001) |
(1.987) |
(2.026) |
Distributions from Realized Capital Gains |
— |
— |
— |
— |
— |
Total Distributions |
(4.291) |
(2.251) |
(2.001) |
(1.987) |
(2.026) |
Net Asset Value, End of Period |
$320.99 |
$246.86 |
$178.51 |
$180.85 |
$141.74 |
Total Return |
32.39% |
39.98% |
-0.14% |
29.22% |
13.81% |
Ratios/Supplemental Data |
|
|
|
|
|
Net Assets, End of Period (Millions) |
$6,658 |
$4,026 |
$3,049 |
$3,199 |
$2,198 |
Ratio of Total Expenses to Average Net Assets |
0.10% |
0.10% |
0.10% |
0.10% |
0.10% |
Ratio of Net Investment Income to Average Net
Assets |
0.60% |
1.06% |
1.20% |
1.28% |
1.53% |
Portfolio Turnover Rate2 |
8% |
10% |
9% |
28% |
6% |
|
|
1 |
Calculated based on average shares outstanding. |
2 |
Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of
the fund’s capital shares, including ETF Creation Units. |
|
Year Ended August 31, | ||||
For a Share Outstanding Throughout Each Period |
2021 |
2020 |
2019 |
2018 |
2017 |
Net Asset Value, Beginning of Period |
$167.31 |
$154.72 |
$140.13 |
$140.15 |
$139.97 |
Investment Operations |
|
|
|
|
|
Net Investment Income1 |
4.385 |
3.992 |
3.896 |
3.603 |
3.651 |
Net Realized and Unrealized Gain (Loss) on
Investments |
20.341 |
12.658 |
14.346 |
(.033) |
.212 |
Total from Investment Operations |
24.726 |
16.650 |
18.242 |
3.570 |
3.863 |
Distributions |
|
|
|
|
|
Dividends from Net Investment Income |
(4.427) |
(4.060) |
(3.652) |
(3.590) |
(3.683) |
Distributions from Realized Capital Gains |
— |
— |
— |
— |
— |
Total Distributions |
(4.427) |
(4.060) |
(3.652) |
(3.590) |
(3.683) |
Net Asset Value, End of Period |
$187.61 |
$167.31 |
$154.72 |
$140.13 |
$140.15 |
Total Return |
15.01% |
11.01% |
13.24% |
2.60% |
2.83% |
Ratios/Supplemental Data |
|
|
|
|
|
Net Assets, End of Period (Millions) |
$5,908 |
$5,712 |
$5,296 |
$3,983 |
$3,780 |
Ratio of Total Expenses to Average Net Assets |
0.10% |
0.10% |
0.10% |
0.10% |
0.10% |
Ratio of Net Investment Income to Average Net
Assets |
2.50% |
2.58% |
2.71% |
2.60% |
2.63% |
Portfolio Turnover Rate2 |
8% |
3% |
6% |
8% |
5% |
|
|
1 |
Calculated based on average shares outstanding. |
2 |
Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of
the fund’s capital shares, including ETF Creation Units. |
|
Year Ended August 31, | ||||
For a Share Outstanding Throughout Each Period |
2021 |
2020 |
2019 |
2018 |
2017 |
Net Asset Value, Beginning of Period |
$47.90 |
$75.75 |
$103.13 |
$85.71 |
$95.06 |
Investment Operations |
|
|
|
|
|
Net Investment Income1 |
2.802 |
2.957 |
2.769 |
2.519 |
22.819 |
Net Realized and Unrealized Gain (Loss) on Investments |
19.789 |
(28.064) |
(27.449) |
17.837 |
(9.801) |
Total from Investment Operations |
22.591 |
(25.107) |
(24.680) |
20.356 |
(6.982) |
Distributions |
|
|
|
|
|
Dividends from Net Investment Income |
(2.501) |
(2.743) |
(2.700) |
(2.936) |
(2.368) |
Distributions from Realized Capital Gains |
— |
— |
— |
— |
— |
Total Distributions |
(2.501) |
(2.743) |
(2.700) |
(2.936) |
(2.368) |
Net Asset Value, End of Period |
$67.99 |
$47.90 |
$75.75 |
$103.13 |
$85.71 |
Total Return |
48.07% |
-33.87% |
-24.34% |
24.06% |
-7.55% |
Ratios/Supplemental Data |
|
|
|
|
|
Net Assets, End of Period (Millions) |
$4,806 |
$2,720 |
$3,029 |
$4,288 |
$3,656 |
Ratio of Total Expenses to Average Net Assets |
0.10% |
0.10% |
0.10% |
0.10% |
0.10% |
Ratio of Net Investment Income to Average Net Assets |
4.54% |
4.91% |
3.15% |
2.56% |
2.93%2 |
Portfolio Turnover Rate3 |
5% |
8% |
7% |
5% |
11% |
|
|
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 $.453 and
0.47%, respectively, from income received as a result of General Electric Co. and Baker Hughes Inc. merger in July
2017. |
3 |
Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of
the fund’s capital shares, including ETF Creation Units. |
|
Year Ended August 31, | ||||
For a Share Outstanding Throughout Each Period |
2021 |
2020 |
2019 |
2018 |
2017 |
Net Asset Value, Beginning of Period |
$61.18 |
$67.31 |
$71.60 |
$62.26 |
$50.81 |
Investment Operations |
|
|
|
|
|
Net Investment Income1 |
1.676 |
1.652 |
1.539 |
1.298 |
1.035 |
Net Realized and Unrealized Gain (Loss) on Investments |
33.519 |
(6.081) |
(4.338) |
9.307 |
11.387 |
Total from Investment Operations |
35.195 |
(4.429) |
(2.799) |
10.605 |
12.422 |
Distributions |
|
|
|
|
|
Dividends from Net Investment Income |
(1.585) |
(1.701) |
(1.491) |
(1.265) |
(.972) |
Distributions from Realized Capital Gains |
— |
— |
— |
— |
— |
Total Distributions |
(1.585) |
(1.701) |
(1.491) |
(1.265) |
(.972) |
Net Asset Value, End of Period |
$94.79 |
$61.18 |
$67.31 |
$71.60 |
$62.26 |
Total Return |
58.26% |
-6.73% |
-3.85% |
17.15% |
24.65% |
Ratios/Supplemental Data |
|
|
|
|
|
Net Assets, End of Period (Millions) |
$10,946 |
$6,140 |
$7,222 |
$8,512 |
$6,127 |
Ratio of Total Expenses to Average Net Assets |
0.10% |
0.10% |
0.10% |
0.10% |
0.10% |
Ratio of Net Investment Income to Average Net Assets |
2.09% |
2.53% |
2.30% |
1.87% |
1.75% |
Portfolio Turnover Rate2 |
4% |
5% |
5% |
3% |
5% |
|
|
1 |
Calculated based on average shares outstanding. |
2 |
Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of
the fund’s capital shares, including ETF Creation Units. |
|
Year Ended August 31, | ||||
For a Share Outstanding Throughout Each Period |
2021 |
2020 |
2019 |
2018 |
2017 |
Net Asset Value, Beginning of Period |
$207.65 |
$169.74 |
$177.07 |
$151.13 |
$133.25 |
Investment Operations |
|
|
|
|
|
Net Investment Income1 |
2.893 |
2.702 |
23.600
|
2.194 |
1.994 |
Net Realized and Unrealized Gain (Loss) on
Investments |
54.714 |
37.758 |
(7.457) |
25.846 |
17.846 |
Total from Investment Operations |
57.607 |
40.460 |
(3.857) |
28.040 |
19.840 |
Distributions |
|
|
|
|
|
Dividends from Net Investment Income |
(2.846) |
(2.550) |
(3.473) |
(2.100) |
(1.960) |
Distributions from Realized Capital Gains |
— |
— |
— |
— |
— |
Total Distributions |
(2.846) |
(2.550) |
(3.473) |
(2.100) |
(1.960) |
Net Asset Value, End of Period |
$262.41 |
$207.65 |
$169.74 |
$177.07 |
$151.13 |
Total Return |
27.99% |
24.05% |
-2.22% |
18.75% |
15.06% |
Ratios/Supplemental Data |
|
|
|
|
|
Net Assets, End of Period (Millions) |
$16,894 |
$11,724 |
$8,899 |
$8,594 |
$7,002 |
Ratio of Total Expenses to Average Net Assets |
0.10% |
0.10% |
0.10% |
0.10% |
0.10% |
Ratio of Net Investment Income to Average Net
Assets |
1.25% |
1.45% |
2.12%2
|
1.38% |
1.46% |
Portfolio Turnover Rate3 |
5% |
7% |
5% |
6% |
4% |
|
|
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 $1.132 and
0.67%, respectively, resulting from a cash payment received in connection with the merger of Cigna Corp. and
Express Scripts Holding Co. in December 2018. |
3 |
Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of
the fund’s capital shares, including ETF Creation Units. |
|
Year Ended August 31, | ||||
For a Share Outstanding Throughout Each Period |
2021 |
2020 |
2019 |
2018 |
2017 |
Net Asset Value, Beginning of Period |
$146.89 |
$142.53 |
$146.12 |
$128.70 |
$111.57 |
Investment Operations |
|
|
|
|
|
Net Investment Income1 |
2.264 |
2.366 |
2.597 |
2.263 |
2.383 |
Net Realized and Unrealized Gain (Loss) on
Investments |
52.318 |
4.554 |
(3.754) |
17.412 |
16.998 |
Total from Investment Operations |
54.582 |
6.920 |
(1.157) |
19.675 |
19.381 |
Distributions |
|
|
|
|
|
Dividends from Net Investment Income |
(2.202) |
(2.560) |
(2.433) |
(2.255) |
(2.251) |
Distributions from Realized Capital Gains |
— |
— |
— |
— |
— |
Total Distributions |
(2.202) |
(2.560) |
(2.433) |
(2.255) |
(2.251) |
Net Asset Value, End of Period |
$199.27 |
$146.89 |
$142.53 |
$146.12 |
$128.70 |
Total Return |
37.41% |
4.96% |
-0.73% |
15.41% |
17.55% |
Ratios/Supplemental Data |
|
|
|
|
|
Net Assets, End of Period (Millions) |
$5,438 |
$3,090 |
$3,457 |
$3,957 |
$3,202 |
Ratio of Total Expenses to Average Net Assets |
0.10% |
0.10% |
0.10% |
0.10% |
0.10% |
Ratio of Net Investment Income to Average Net
Assets |
1.25% |
1.69% |
1.87% |
1.62% |
1.95% |
Portfolio Turnover Rate2 |
5% |
4% |
4% |
4% |
5% |
|
|
1 |
Calculated based on average shares outstanding. |
2 |
Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of
the fund’s capital shares, including ETF Creation Units. |
|
Year Ended August 31, | ||||
For a Share Outstanding Throughout Each Period |
2021 |
2020 |
2019 |
2018 |
2017 |
Net Asset Value, Beginning of Period |
$328.54 |
$213.66 |
$202.82 |
$151.19 |
$117.82 |
Investment Operations |
|
|
|
|
|
Net Investment Income1 |
2.634 |
2.926 |
2.572 |
1.921 |
1.646 |
Net Realized and Unrealized Gain (Loss) on
Investments |
97.919 |
114.955 |
10.792 |
51.430 |
33.329 |
Total from Investment Operations |
100.553 |
117.881 |
13.364 |
53.351 |
34.975 |
Distributions |
|
|
|
|
|
Dividends from Net Investment Income |
(2.613) |
(3.001) |
(2.524) |
(1.721) |
(1.605) |
Distributions from Realized Capital Gains |
— |
— |
— |
— |
— |
Total Distributions |
(2.613) |
(3.001) |
(2.524) |
(1.721) |
(1.605) |
Net Asset Value, End of Period |
$426.48 |
$328.54 |
$213.66 |
$202.82 |
$151.19 |
Total Return |
30.80% |
55.72% |
6.70% |
35.52% |
29.93% |
Ratios/Supplemental Data |
|
|
|
|
|
Net Assets, End of Period (Millions) |
$51,238 |
$38,711 |
$20,738 |
$22,595 |
$14,638 |
Ratio of Total Expenses to Average Net Assets |
0.10% |
0.10% |
0.10% |
0.10% |
0.10% |
Ratio of Net Investment Income to Average Net
Assets |
0.73% |
1.17% |
1.32% |
1.10% |
1.24% |
Portfolio Turnover Rate2 |
4% |
5% |
5% |
7% |
6% |
|
|
1 |
Calculated based on average shares outstanding. |
2 |
Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of
the fund’s capital shares, including ETF Creation Units. |
|
Year Ended August 31, | ||||
For a Share Outstanding Throughout Each Period |
2021 |
2020 |
2019 |
2018 |
2017 |
Net Asset Value, Beginning of Period |
$134.84 |
$122.80 |
$134.33 |
$124.29 |
$108.16 |
Investment Operations |
|
|
|
|
|
Net Investment Income1 |
2.801 |
2.522 |
2.501 |
2.285 |
2.175 |
Net Realized and Unrealized Gain (Loss) on
Investments |
52.014 |
12.053 |
(11.541) |
9.961 |
16.072 |
Total from Investment Operations |
54.815 |
14.575 |
(9.040) |
12.246 |
18.247 |
Distributions |
|
|
|
|
|
Dividends from Net Investment Income |
(2.635) |
(2.535) |
(2.490) |
(2.206) |
(2.117) |
Distributions from Realized Capital Gains |
— |
— |
— |
— |
— |
Total Distributions |
(2.635) |
(2.535) |
(2.490) |
(2.206) |
(2.117) |
Net Asset Value, End of Period |
$187.02 |
$134.84 |
$122.80 |
$134.33 |
$124.29 |
Total Return |
41.00% |
12.12% |
-6.73% |
9.91% |
17.06% |
Ratios/Supplemental Data |
|
|
|
|
|
Net Assets, End of Period (Millions) |
$3,924 |
$1,676 |
$1,921 |
$2,749 |
$1,913 |
Ratio of Total Expenses to Average Net Assets |
0.10% |
0.10% |
0.10% |
0.10% |
0.10% |
Ratio of Net Investment Income to Average Net
Assets |
1.66% |
2.05% |
2.04% |
1.71% |
1.87% |
Portfolio Turnover Rate2 |
5% |
4% |
4% |
5% |
5% |
|
|
1 |
Calculated based on average shares outstanding. |
2 |
Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of
the fund’s capital shares, including ETF Creation Units. |
|
Year Ended August 31, | ||||
For a Share Outstanding Throughout Each Period |
2021 |
2020 |
2019 |
2018 |
2017 |
Net Asset Value, Beginning of Period |
$129.35 |
$139.09 |
$119.32 |
$120.75 |
$107.35 |
Investment Operations |
|
|
|
|
|
Net Investment Income1 |
4.310 |
4.306 |
4.087 |
3.757 |
3.697 |
Net Realized and Unrealized Gain (Loss) on
Investments |
20.048 |
(9.802) |
19.562 |
(1.434) |
13.374 |
Total from Investment Operations |
24.358 |
(5.496) |
23.649 |
2.323 |
17.071 |
Distributions |
|
|
|
|
|
Dividends from Net Investment Income |
(4.188) |
(4.244) |
(3.879) |
(3.753) |
(3.671) |
Distributions from Realized Capital Gains |
— |
— |
— |
— |
— |
Total Distributions |
(4.188) |
(4.244) |
(3.879) |
(3.753) |
(3.671) |
Net Asset Value, End of Period |
$149.52 |
$129.35 |
$139.09 |
$119.32 |
$120.75 |
Total Return |
19.19% |
-4.08% |
20.17% |
2.05% |
16.27% |
Ratios/Supplemental Data |
|
|
|
|
|
Net Assets, End of Period (Millions) |
$5,126 |
$4,014 |
$4,107 |
$2,809 |
$2,689 |
Ratio of Total Expenses to Average Net Assets |
0.10% |
0.10% |
0.10% |
0.10% |
0.10% |
Ratio of Net Investment Income to Average Net
Assets |
3.09% |
3.18% |
3.22% |
3.25% |
3.33% |
Portfolio Turnover Rate2 |
6% |
5% |
4% |
4% |
4% |
|
|
1 |
Calculated based on average shares outstanding. |
2 |
Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of
the fund’s capital shares, including ETF Creation Units. |
| |
Transaction Fee on Purchases and Sales |
|
Transaction Fee on Reinvested Dividends |
|
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 Mega 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 Mega Cap Index
(reflects no deduction for fees, expenses, or taxes) |
|
|
|
CRSP US Mega 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 Mega 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 Mega Cap Value Index
(reflects no deduction for fees, expenses, or taxes) |
|
|
|
CRSP US Mega 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 Mega 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 Mega Cap Growth Index
(reflects no deduction for fees, expenses, or taxes) |
|
|
|
CRSP US Mega 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 |
Mega Cap Index Fund |
Mega Cap ETF |
Large-cap stocks |
Mega Cap Value Index Fund |
Mega Cap Value ETF |
Large-cap value stocks |
Mega Cap Growth Index Fund |
Mega Cap Growth ETF |
Large-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 |
Mega Cap Index Fund |
$243 billion |
Mega Cap Value Index Fund |
$165 billion |
Mega Cap Growth Index Fund |
$559 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 |
The Vanguard Group 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. |
|
Inception
Date |
Vanguard
Fund Number |
CUSIP
Number |
Mega Cap Index Fund |
|
|
|
ETF Shares |
12/17/2007 |
3137 |
921910873 |
Mega Cap Value Index Fund |
|
|
|
ETF Shares |
12/17/2007 |
3139 |
921910840 |
Mega Cap Growth Index Fund |
|
|
|
ETF Shares |
12/17/2007 |
3138 |
921910816 |
|
Year Ended August 31, | ||||
For a Share Outstanding Throughout Each Period |
2021 |
2020 |
2019 |
2018 |
2017 |
Net Asset Value, Beginning of Period |
$125.47 |
$101.36 |
$100.26 |
$85.02 |
$74.19 |
Investment Operations |
|
|
|
|
|
Net Investment Income1 |
1.961 |
1.992 |
2.045 |
1.790 |
1.676 |
Net Realized and Unrealized Gain (Loss) on
Investments |
35.218 |
24.065 |
1.052 |
15.214 |
10.788 |
Total from Investment Operations |
37.179 |
26.057 |
3.097 |
17.004 |
12.464 |
Distributions |
|
|
|
|
|
Dividends from Net Investment Income |
(1.908) |
(1.947) |
(1.997) |
(1.764) |
(1.634) |
Distributions from Realized Capital Gains |
— |
— |
— |
— |
— |
Total Distributions |
(1.908) |
(1.947) |
(1.997) |
(1.764) |
(1.634) |
Net Asset Value, End of Period |
$160.74 |
$125.47 |
$101.36 |
$100.26 |
$85.02 |
Total Return |
29.94% |
26.14% |
3.26% |
20.25% |
17.01% |
Ratios/Supplemental Data |
|
|
|
|
|
Net Assets, End of Period (Millions) |
$4,288 |
$3,036 |
$1,944 |
$1,542 |
$1,233 |
Ratio of Total Expenses to Average Net Assets |
0.07% |
0.07% |
0.07% |
0.07% |
0.07% |
Ratio of Net Investment Income to Average Net
Assets |
1.41% |
1.85% |
2.10% |
1.93% |
2.12% |
Portfolio Turnover Rate2 |
5% |
4% |
4% |
4% |
6% |
|
|
1 |
Calculated based on average shares outstanding. |
2 |
Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of
the fund’s capital shares, including ETF Creation Units. |
|
Year Ended August 31, | ||||
For a Share Outstanding Throughout Each Period |
2021 |
2020 |
2019 |
2018 |
2017 |
Net Asset Value, Beginning of Period |
$78.96 |
$78.94 |
$79.89 |
$70.19 |
$63.52 |
Investment Operations |
|
|
|
|
|
Net Investment Income1 |
2.271 |
2.271 |
2.261 |
1.893 |
1.843 |
Net Realized and Unrealized Gain (Loss) on Investments |
23.557 |
(.044) |
(1.027) |
9.668 |
6.557 |
Total from Investment Operations |
25.828 |
2.227 |
1.234 |
11.561 |
8.400 |
Distributions |
|
|
|
|
|
Dividends from Net Investment Income |
(2.148) |
(2.207) |
(2.184) |
(1.861) |
(1.730) |
Distributions from Realized Capital Gains |
— |
— |
— |
— |
— |
Total Distributions |
(2.148) |
(2.207) |
(2.184) |
(1.861) |
(1.730) |
Net Asset Value, End of Period |
$102.64 |
$78.96 |
$78.94 |
$79.89 |
$70.19 |
Total Return |
33.17% |
2.94% |
1.69% |
16.71% |
13.40% |
Ratios/Supplemental Data |
|
|
|
|
|
Net Assets, End of Period (Millions) |
$4,587 |
$3,017 |
$2,448 |
$2,120 |
$1,717 |
Ratio of Total Expenses to Average Net Assets |
0.07% |
0.07% |
0.07% |
0.07% |
0.07% |
Ratio of Net Investment Income to Average Net Assets |
2.47% |
2.90% |
2.90% |
2.50% |
2.73% |
Portfolio Turnover Rate2 |
11% |
9% |
10% |
8% |
8% |
|
|
1 |
Calculated based on average shares outstanding. |
2 |
Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of
the fund’s capital shares, including ETF Creation Units. |
|
Year Ended August 31, | ||||
For a Share Outstanding Throughout Each Period |
2021 |
2020 |
2019 |
2018 |
2017 |
Net Asset Value, Beginning of Period |
$196.25 |
$132.22 |
$127.79 |
$104.09 |
$87.15 |
Investment Operations |
|
|
|
|
|
Net Investment Income1 |
1.220 |
1.358 |
1.588 |
1.485 |
1.351 |
Net Realized and Unrealized Gain (Loss) on
Investments |
52.279 |
64.007 |
3.860 |
23.677 |
16.920 |
Total from Investment Operations |
53.499 |
65.365 |
5.448 |
25.162 |
18.271 |
Distributions |
|
|
|
|
|
Dividends from Net Investment Income |
(1.249) |
(1.335) |
(1.018) |
(1.462) |
(1.331) |
Distributions from Realized Capital Gains |
— |
— |
— |
— |
— |
Total Distributions |
(1.249) |
(1.335) |
(1.018) |
(1.462) |
(1.331) |
Net Asset Value, End of Period |
$248.50 |
$196.25 |
$132.22 |
$127.79 |
$104.09 |
Total Return |
27.41% |
49.84% |
4.32% |
24.38% |
21.17% |
Ratios/Supplemental Data |
|
|
|
|
|
Net Assets, End of Period (Millions) |
$12,714 |
$10,193 |
$4,388 |
$4,152 |
$3,135 |
Ratio of Total Expenses to Average Net Assets |
0.07% |
0.07% |
0.07% |
0.07% |
0.07% |
Ratio of Net Investment Income to Average Net
Assets |
0.58% |
0.90% |
1.30% |
1.29% |
1.43% |
Portfolio Turnover Rate2 |
8% |
6% |
14% |
9% |
8% |
|
|
1 |
Calculated based on average shares outstanding. |
2 |
Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of
the fund’s capital shares, including ETF Creation Units. |
| |
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 Mega Cap Index Fund Institutional Shares |
|
|
|
Return Before Taxes |
|
|
|
Return After Taxes on Distributions |
|
|
|
Return After Taxes on Distributions and Sale of Fund Shares |
|
|
|
Spliced Mega Cap Index
(reflects no deduction for fees, expenses, or taxes) |
|
|
|
CRSP US Mega 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 Mega 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 Mega Cap Value Index
(reflects no deduction for fees, expenses, or taxes) |
|
|
|
CRSP US Mega 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 Mega 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 Mega Cap Growth Index
(reflects no deduction for fees, expenses, or taxes) |
|
|
|
CRSP US Mega 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 |
Mega Cap Index Fund |
$243 billion |
Mega Cap Value Index Fund |
$165 billion |
Mega Cap Growth Index Fund |
$559 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 |
The Vanguard Group 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 bond
investments. Capital gains are realized whenever the fund sells securities for
higher prices than it paid for them. These capital gains are either short-term
or long-term, depending on whether the fund held the securities for one year
or less or for more than one year. |
Plain Talk About Buying a Dividend |
Unless you are a tax-exempt investor or investing through a tax-advantaged
account (such as an IRA or an employer-sponsored retirement or savings
plan), you should consider avoiding a purchase of fund shares shortly before
the fund makes a distribution, because doing so can cost you money in
taxes. This is known as “buying a dividend.” For example: On December 15,
you invest $5,000, buying 250 shares for $20 each. If the fund pays a
distribution of $1 per share on December 16, its share price will drop to $19
(not counting market change). You still have only $5,000 (250 shares x $19 =
$4,750 in share value, plus 250 shares x $1 = $250 in distributions), but you
owe tax on the $250 distribution you received—even if you reinvest it in
more shares. To avoid buying a dividend, check a fund’s distribution schedule
before you invest. |
|
Year Ended August 31, | ||||
For a Share Outstanding Throughout Each Period |
2021 |
2020 |
2019 |
2018 |
2017 |
Net Asset Value, Beginning of Period |
$247.38 |
$199.84 |
$197.68 |
$167.62 |
$146.25 |
Investment Operations |
|
|
|
|
|
Net Investment Income1 |
3.882 |
3.943 |
4.053 |
3.513 |
3.362 |
Net Realized and Unrealized Gain (Loss) on
Investments |
69.463 |
47.454 |
2.062 |
30.038 |
21.220 |
Total from Investment Operations |
73.345 |
51.397 |
6.115 |
33.551 |
24.582 |
Distributions |
|
|
|
|
|
Dividends from Net Investment Income |
(3.785) |
(3.857) |
(3.955) |
(3.491) |
(3.212) |
Distributions from Realized Capital Gains |
— |
— |
— |
— |
— |
Total Distributions |
(3.785) |
(3.857) |
(3.955) |
(3.491) |
(3.212) |
Net Asset Value, End of Period |
$316.94 |
$247.38 |
$199.84 |
$197.68 |
$167.62 |
Total Return |
29.97% |
26.19% |
3.25% |
20.26% |
17.02% |
Ratios/Supplemental Data |
|
|
|
|
|
Net Assets, End of Period (Millions) |
$190 |
$180 |
$150 |
$122 |
$132 |
Ratio of Total Expenses to Average Net Assets |
0.06% |
0.06% |
0.06% |
0.06% |
0.06% |
Ratio of Net Investment Income to Average Net
Assets |
1.42% |
1.86% |
2.11% |
1.94% |
2.13% |
Portfolio Turnover Rate2 |
5% |
4% |
4% |
4% |
6% |
|
|
1 |
Calculated based on average shares outstanding. |
2 |
Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of
the fund’s capital shares, including ETF Creation Units. |
|
Year Ended August 31, | ||||
For a Share Outstanding Throughout Each Period |
2021 |
2020 |
2019 |
2018 |
2017 |
Net Asset Value, Beginning of Period |
$156.56 |
$156.53 |
$158.41 |
$139.18 |
$125.94 |
Investment Operations |
|
|
|
|
|
Net Investment Income1 |
4.492 |
4.522 |
4.467 |
3.743 |
3.596 |
Net Realized and Unrealized Gain (Loss) on
Investments |
46.761 |
(.102) |
(2.002) |
19.188 |
13.077 |
Total from Investment Operations |
51.253 |
4.420 |
2.465 |
22.931 |
16.673 |
Distributions |
|
|
|
|
|
Dividends from Net Investment Income |
(4.274) |
(4.390) |
(4.345) |
(3.701) |
(3.433) |
Distributions from Realized Capital Gains |
— |
— |
— |
— |
— |
Total Distributions |
(4.274) |
(4.390) |
(4.345) |
(3.701) |
(3.433) |
Net Asset Value, End of Period |
$203.54 |
$156.56 |
$156.53 |
$158.41 |
$139.18 |
Total Return |
33.22% |
3.00% |
1.68% |
16.71% |
13.41% |
Ratios/Supplemental Data |
|
|
|
|
|
Net Assets, End of Period (Millions) |
$128 |
$117 |
$134 |
$131 |
$125 |
Ratio of Total Expenses to Average Net Assets |
0.06% |
0.06% |
0.06% |
0.06% |
0.06% |
Ratio of Net Investment Income to Average Net
Assets |
2.49% |
2.89% |
2.91% |
2.51% |
2.74% |
Portfolio Turnover Rate2 |
11% |
9% |
10% |
8% |
8% |
|
|
1 |
Calculated based on average shares outstanding. |
2 |
Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of
the fund’s capital shares, including ETF Creation Units. |
|
Year Ended August 31, | ||||
For a Share Outstanding Throughout Each Period |
2021 |
2020 |
2019 |
2018 |
2017 |
Net Asset Value, Beginning of Period |
$389.78 |
$262.63 |
$253.80 |
$206.74 |
$173.07 |
Investment Operations |
|
|
|
|
|
Net Investment Income1 |
2.498 |
2.707 |
3.184 |
2.963 |
2.699 |
Net Realized and Unrealized Gain (Loss) on
Investments |
103.822 |
127.126 |
7.684 |
47.023 |
33.622 |
Total from Investment Operations |
106.320 |
129.833 |
10.868 |
49.986 |
36.321 |
Distributions |
|
|
|
|
|
Dividends from Net Investment Income |
(2.489) |
(2.683) |
(2.038) |
(2.926) |
(2.651) |
Distributions from Realized Capital Gains |
— |
— |
— |
— |
— |
Total Distributions |
(2.489) |
(2.683) |
(2.038) |
(2.926) |
(2.651) |
Net Asset Value, End of Period |
$493.61 |
$389.78 |
$262.63 |
$253.80 |
$206.74 |
Total Return |
27.43% |
49.87% |
4.34% |
24.39% |
21.20% |
Ratios/Supplemental Data |
|
|
|
|
|
Net Assets, End of Period (Millions) |
$46 |
$81 |
$43 |
$43 |
$35 |
Ratio of Total Expenses to Average Net Assets |
0.06% |
0.06% |
0.06% |
0.06% |
0.06% |
Ratio of Net Investment Income to Average Net
Assets |
0.62% |
0.91% |
1.31% |
1.30% |
1.44% |
Portfolio Turnover Rate2 |
8% |
6% |
14% |
9% |
8% |
|
|
1 |
Calculated based on average shares outstanding. |
2 |
Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of
the fund’s capital shares, including ETF Creation Units. |
Web |
|
Vanguard.com |
For the most complete source of Vanguard news
For fund, account, and service information
For most account transactions
For literature requests
24 hours a day, 7 days a week |
Phone | |
Vanguard Tele-Account®
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financial intermediaries including financial advisors,
broker-dealers, trust institutions, and insurance
companies |
|
Inception
Date |
Newspaper
Abbreviation |
Vanguard
Fund
Number |
CUSIP
Number |
Mega Cap Index Fund |
|
|
|
|
Institutional Shares |
2/22/2008 |
MegCapInt |
828 |
921910857 |
Mega Cap Value Index Fund |
|
|
|
|
Institutional Shares |
3/5/2008 |
MegCapVaIInt |
839 |
921910824 |
Mega Cap Growth Index Fund |
|
|
|
|
Institutional Shares |
4/3/2008 |
MegCapGwthInt |
838 |
921910782 |
|
Investor Shares |
Admiral Shares |
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 $10,000) |
$ |
$ |
|
Investor Shares |
Admiral Shares |
Management Fees |
|
|
12b-1 Distribution Fee |
|
|
Other Expenses |
|
|
Total Annual Fund Operating Expenses |
|
|
|
1 Year |
3 Years |
5 Years |
10 Years |
Investor Shares |
$ |
$ |
$ |
$ |
Admiral Shares |
$ |
$ |
$ |
$ |
|
Total Return |
Quarter |
|
|
|
|
- |
|
|
1 Year |
Since
Fund
Inception |
Fund
Inception
Date |
Vanguard Global Wellington Fund Investor Shares |
|
|
|
Return Before Taxes |
|
|
|
Return After Taxes on Distributions |
|
|
|
Return After Taxes on Distributions and Sale of Fund
Shares |
|
|
|
Vanguard Global Wellington Fund Admiral Shares |
|
|
|
Return Before Taxes |
|
|
|
Global Wellington Composite Index in USD
(reflects no deduction for fees, expenses, or taxes) |
|
|
|
FTSE Developed Net Tax (US RIC) Index
(reflects no deduction for fees, expenses, or taxes) |
|
|
|
Bloomberg Global Aggregate Bond 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 Global Wellington Fund’s
expense ratios would be as follows: for Investor Shares, 0.42%, or $4.20 per
$1,000 of average net assets; for Admiral Shares, 0.29%, or $2.90 per
$1,000 of average net assets. The average expense ratio for mixed-asset
target allocation growth funds in 2020 was 0.77%, or $7.70 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 Balanced Funds |
Balanced funds are generally investments that seek to provide some
combination of income and capital appreciation by investing in a mix of
stocks and bonds. Because prices of stocks and bonds can respond
differently to economic events and influences, a balanced fund should
experience less volatility than a fund investing exclusively in stocks. |
Plain Talk About Bonds and Interest Rates |
As a rule, when interest rates rise, bond prices fall. The opposite is also true:
Bond prices go up when interest rates fall. Why do bond prices and interest
rates move in opposite directions? Let’s assume that you hold a bond
offering a 4% yield. A year later, interest rates are on the rise and bonds of
comparable quality and maturity are offered with a 5% yield. With
higher-yielding bonds available, you would have trouble selling your 4% bond
for the price you paid—you would probably have to lower your asking price.
On the other hand, if interest rates were falling and 3% bonds were being
offered, you should be able to sell your 4% bond for more than you paid. |
How mortgage-backed securities are different: In general, declining interest
rates will not lift the prices of mortgage-backed securities—such as those
guaranteed by the Government National Mortgage Association—as much as
the prices of comparable bonds. Why? Because when interest rates fall, the
bond market tends to discount the prices of mortgage-backed securities for
prepayment risk—the possibility that homeowners will refinance their
mortgages at lower rates and cause the bonds to be paid off prior to
maturity. In part to compensate for this prepayment possibility,
mortgage-backed securities tend to offer higher yields than other bonds of
comparable credit quality and maturity. In contrast, when interest rates rise,
prepayments tend to slow down, subjecting mortgage-backed securities to
extension risk—the possibility that homeowners will repay their mortgages
at slower rates. This will lengthen the duration or average life of
mortgage-backed securities held by a fund and delay the fund’s ability to
reinvest proceeds at higher interest rates, making the fund more sensitive to
changes in interest rates. |
Plain Talk About Bond Maturities |
A bond is issued with a specific maturity date—the date when the issuer
must pay back the bond’s principal (face value). Bond maturities range from
less than 1 year to more than 30 years. Typically, the longer a bond’s maturity,
the more price risk you, as a bond investor, will face as interest rates
rise—but also the higher the potential yield you could receive. Longer-term
bonds are generally more suitable for investors willing to take a greater risk
of price fluctuations to get higher and more stable interest income.
Shorter-term bond investors should be willing to accept lower yields and
greater income variability in return for less fluctuation in the value of their
investment. The stated maturity of a bond may differ from the effective
maturity of a bond, which takes into consideration that an action such as a
call or refunding may cause bonds to be repaid before their stated
maturity dates. |
Plain Talk About International Investing |
U.S. investors who invest in foreign securities will encounter risks not
typically associated with U.S. companies because foreign stock and bond
markets operate differently from the U.S. markets. For instance, foreign
companies and governments may not be subject to the same or similar
accounting, auditing, legal, tax, and financial reporting standards and
practices as U.S. companies and the U.S. government, and their stocks and
bonds may not be as liquid as those of similar U.S. entities. In addition,
foreign stock exchanges, brokers, companies, bond markets, and dealers
may be subject to less government supervision and regulation than their
counterparts in the United States. These factors, among others, could
negatively affect the returns U.S. investors receive from foreign investments. |
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 Types of Bonds |
Bonds are issued (sold) by many sources: Corporations issue corporate
bonds; the federal government issues U.S. Treasury bonds; agencies of the
federal government issue agency bonds; financial institutions issue
asset-backed bonds; and mortgage holders issue “mortgage-backed”
pass-through certificates. Each issuer is responsible for paying back the
bond’s initial value as well as for making periodic interest payments. Many
bonds issued by government agencies and entities are neither guaranteed
nor insured by the U.S. government. |
Plain Talk About Credit Quality |
A bond’s credit quality rating is an assessment of the issuer’s ability to pay
interest on the bond and, ultimately, to repay the principal. The lower the
credit quality, the greater the perceived chance that the bond issuer will
default, or fail to meet its payment obligations. All things being equal, the
lower a bond’s credit quality, the higher its yield should be to compensate
investors for assuming additional risk. |
Plain Talk About Derivatives |
Derivatives can take many forms. Some forms of derivatives—such as
exchange-traded futures and options on securities, commodities, or
indexes—have been trading on regulated exchanges for decades. These
types of derivatives are standardized contracts that can easily be bought and
sold and whose market values are determined and published daily. On the
other hand, non-exchange-traded derivatives—such as certain swap
agreements and foreign currency exchange forward contracts—tend to be
more specialized or complex and may be more difficult to accurately value. |
Plain Talk About Vanguard’s Unique Corporate Structure |
The Vanguard Group is owned jointly by the funds it oversees and thus
indirectly by the shareholders in those funds. Most other mutual funds are
operated by management companies that are owned by third parties—either
public or private stockholders—and not by the funds they serve. |
Plain Talk About Distributions |
As a shareholder, you are entitled to your portion of a fund’s income from
interest and dividends as well as capital gains from the fund’s sale of
investments. Income consists of both the dividends that the fund earns from
any stock holdings and the interest it receives from any money market and
bond investments. Capital gains are realized whenever the fund sells
securities for higher prices than it paid for them. These capital gains are
either short-term or long-term, depending on whether the fund held the
securities for one year or less or for more than one year. |
Plain Talk About Buying a Dividend |
Unless you are a tax-exempt investor or investing through a tax-advantaged
account (such as an IRA or an employer-sponsored retirement or savings
plan), you should consider avoiding a purchase of fund shares shortly before
the fund makes a distribution, because doing so can cost you money in
taxes. This is known as “buying a dividend.” For example: On December 15,
you invest $5,000, buying 250 shares for $20 each. If the fund pays a
distribution of $1 per share on December 16, its share price will drop to $19
(not counting market change). You still have only $5,000 (250 shares x $19 =
$4,750 in share value, plus 250 shares x $1 = $250 in distributions), but you
owe tax on the $250 distribution you received—even if you reinvest it in
more shares. To avoid buying a dividend, check a fund’s distribution schedule
before you invest. |
|
Year Ended August 31, |
Oct. 18,
20171 to
August 31, | ||
For a Share Outstanding Throughout Each Period |
2021 |
2020 |
2019 |
2018 |
Net Asset Value, Beginning of Period |
$22.29 |
$21.41 |
$20.51 |
$20.00 |
Investment Operations |
|
|
|
|
Net Investment Income2
|
.410 |
.430 |
.443 |
.392 |
Net Realized and Unrealized Gain (Loss) on Investments |
3.871 |
.874 |
.920 |
.379 |
Total from Investment Operations |
4.281 |
1.304 |
1.363 |
.771 |
Distributions |
|
|
|
|
Dividends from Net Investment Income |
(.391) |
(.389) |
(.426) |
(.261) |
Distributions from Realized Capital Gains |
— |
(.035) |
(.037) |
— |
Total Distributions |
(.391) |
(.424) |
(.463) |
(.261) |
Net Asset Value, End of Period |
$26.18 |
$22.29 |
$21.41 |
$20.51 |
Total Return3
|
19.36% |
6.22% |
6.80% |
3.88% |
Ratios/Supplemental Data |
|
|
|
|
Net Assets, End of Period (Millions) |
$247 |
$181 |
$176 |
$172 |
Ratio of Total Expenses to Average Net Assets4
|
0.42% |
0.44% |
0.46% |
0.46%5,6
|
Ratio of Net Investment Income to Average Net Assets |
1.68% |
2.01% |
2.19% |
2.32%5
|
Portfolio Turnover Rate |
68%7
|
58%7
|
54% |
44% |
|
|
1 |
Subscription period for the fund was October 18, 2017, to November 1, 2017, during which time all assets were
held in cash. Performance measurement began November 2, 2017, the first business day after the subscription
period, at a net asset value of $20.00. |
2 |
Calculated based on average shares outstanding. |
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 |
Includes performance-based investment advisory fee increases (decreases) of (0.03%), (0.01%), and 0.01%.
Performance-based investment advisory fees did not apply before fiscal year 2019. |
5 |
Annualized. |
6 |
The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements
was 0.45%. |
7 |
Includes 20% and 10%, respectively, attributable to mortgage-dollar-roll activity. |
|
Year Ended August 31, |
Oct.18,
20171 to
August 31, | ||
For a Share Outstanding Throughout Each Period |
2021 |
2020 |
2019 |
2018 |
Net Asset Value, Beginning of Period |
$27.87 |
$26.76 |
$25.65 |
$25.00 |
Investment Operations |
|
|
|
|
Net Investment Income2
|
.554 |
.564 |
.583 |
.511 |
Net Realized and Unrealized Gain (Loss) on Investments |
4.842 |
1.104 |
1.132 |
.480 |
Total from Investment Operations |
5.396 |
1.668 |
1.715 |
.991 |
Distributions |
|
|
|
|
Dividends from Net Investment Income |
(.526) |
(.514) |
(.559) |
(.341) |
Distributions from Realized Capital Gains |
— |
(.044) |
(.046) |
— |
Total Distributions |
(.526) |
(.558) |
(.605) |
(.341) |
Net Asset Value, End of Period |
$32.74 |
$27.87 |
$26.76 |
$25.65 |
Total Return3
|
19.53% |
6.38% |
6.85% |
3.99% |
Ratios/Supplemental Data |
|
|
|
|
Net Assets, End of Period (Millions) |
$1,577 |
$1,129 |
$826 |
$715 |
Ratio of Total Expenses to Average Net Assets4
|
0.29% |
0.34% |
0.36% |
0.36%5,6
|
Ratio of Net Investment Income to Average Net Assets |
1.81% |
2.11% |
2.29% |
2.42%5
|
Portfolio Turnover Rate |
68%7
|
58%7
|
54% |
44% |
|
|
1 |
Subscription period for the fund was October 18, 2017, to November 1, 2017, during which time all assets were
held in cash. Performance measurement began November 2, 2017, the first business day after the subscription
period, at a net asset value of $25.00. |
2 |
Calculated based on average shares outstanding. |
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 |
Includes performance-based investment advisory fee increases (decreases) of (0.03%), (0.01%), and 0.01%.
Performance-based investment advisory fees did not apply before fiscal year 2019. |
5 |
Annualized. |
6 |
The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements
was 0.35%. |
7 |
Includes 20% and 10%, respectively, attributable to mortgage-dollar-roll activity. |
Web |
|
Vanguard.com |
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For fund, account, and service information
For most account transactions
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Phone | |
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broker-dealers, trust institutions, and insurance
companies |
|
Inception
Date |
Newspaper
Abbreviation |
Vanguard
Fund Number |
CUSIP
Number |
Global Wellington Fund | ||||
Investor Shares |
11/2/2017 |
VanGlWelltn |
1567 |
921910774 |
Admiral Shares |
11/2/2017 |
VanGlWelAdm |
1767 |
921910766 |
|
Investor Shares |
Admiral Shares |
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 $10,000) |
$ |
$ |
|
Investor Shares |
Admiral Shares |
Management Fees |
|
|
12b-1 Distribution Fee |
|
|
Other Expenses |
|
|
Total Annual Fund Operating Expenses |
|
|
|
1 Year |
3 Years |
5 Years |
10 Years |
Investor Shares |
$ |
$ |
$ |
$ |
Admiral Shares |
$ |
$ |
$ |
$ |
|
Total Return |
Quarter |
|
|
|
|
- |
|
|
1 Year |
Since
Fund
Inception |
Fund
Inception
Date |
Vanguard Global Wellesley Income Fund
Investor Shares |
|
|
|
Return Before Taxes |
|
|
|
Return After Taxes on Distributions |
|
|
|
Return After Taxes on Distributions and Sale of Fund
Shares |
|
|
|
Vanguard Global Wellesley Income Fund
Admiral Shares |
|
|
|
Return Before Taxes |
|
|
|
Global Wellesley Income Composite Index in USD
(reflects no deduction for fees, expenses, or taxes) |
|
|
|
FTSE Developed Net Tax (US RIC) Index
(reflects no deduction for fees, expenses, or taxes) |
|
|
|
Bloomberg Global Aggregate Bond 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 Global Wellesley Income Fund’s
expense ratios would be as follows: for Investor Shares, 0.41%, or $4.10 per
$1,000 of average net assets; for Admiral Shares, 0.28%, or $2.80 per
$1,000 of average net assets. The average expense ratio for mixed-asset
target allocation conservative funds in 2020 was 0.69%, or $6.90 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 Balanced Funds |
Balanced funds are generally investments that seek to provide some
combination of income and capital appreciation by investing in a mix of
stocks and bonds. Because prices of stocks and bonds can respond
differently to economic events and influences, a balanced fund should
experience less volatility than a fund investing exclusively in stocks. |
Plain Talk About Bonds and Interest Rates |
As a rule, when interest rates rise, bond prices fall. The opposite is also true:
Bond prices go up when interest rates fall. Why do bond prices and interest
rates move in opposite directions? Let’s assume that you hold a bond
offering a 4% yield. A year later, interest rates are on the rise and bonds of
comparable quality and maturity are offered with a 5% yield. With
higher-yielding bonds available, you would have trouble selling your 4% bond
for the price you paid—you would probably have to lower your asking price.
On the other hand, if interest rates were falling and 3% bonds were being
offered, you should be able to sell your 4% bond for more than you paid. |
How mortgage-backed securities are different: In general, declining interest
rates will not lift the prices of mortgage-backed securities—such as those
guaranteed by the Government National Mortgage Association—as much as
the prices of comparable bonds. Why? Because when interest rates fall, the
bond market tends to discount the prices of mortgage-backed securities for
prepayment risk—the possibility that homeowners will refinance their
mortgages at lower rates and cause the bonds to be paid off prior to
maturity. In part to compensate for this prepayment possibility,
mortgage-backed securities tend to offer higher yields than other bonds of
comparable credit quality and maturity. In contrast, when interest rates rise,
prepayments tend to slow down, subjecting mortgage-backed securities to
extension risk—the possibility that homeowners will repay their mortgages
at slower rates. This will lengthen the duration or average life of
mortgage-backed securities held by a fund and delay the fund’s ability to
reinvest proceeds at higher interest rates, making the fund more sensitive to
changes in interest rates. |
Plain Talk About Bond Maturities |
A bond is issued with a specific maturity date—the date when the issuer
must pay back the bond’s principal (face value). Bond maturities range from
less than 1 year to more than 30 years. Typically, the longer a bond’s maturity,
the more price risk you, as a bond investor, will face as interest rates
rise—but also the higher the potential yield you could receive. Longer-term
bonds are generally more suitable for investors willing to take a greater risk
of price fluctuations to get higher and more stable interest income.
Shorter-term bond investors should be willing to accept lower yields and
greater income variability in return for less fluctuation in the value of their
investment. The stated maturity of a bond may differ from the effective
maturity of a bond, which takes into consideration that an action such as a
call or refunding may cause bonds to be repaid before their stated
maturity dates. |
Plain Talk About International Investing |
U.S. investors who invest in foreign securities will encounter risks not
typically associated with U.S. companies because foreign stock and bond
markets operate differently from the U.S. markets. For instance, foreign
companies and governments may not be subject to the same or similar
accounting, auditing, legal, tax, and financial reporting standards and
practices as U.S. companies and the U.S. government, and their stocks and
bonds may not be as liquid as those of similar U.S. entities. In addition,
foreign stock exchanges, brokers, companies, bond markets, and dealers
may be subject to less government supervision and regulation than their
counterparts in the United States. These factors, among others, could
negatively affect the returns U.S. investors receive from foreign investments. |
Plain Talk About Types of Bonds |
Bonds are issued (sold) by many sources: Corporations issue corporate
bonds; the federal government issues U.S. Treasury bonds; agencies of the
federal government issue agency bonds; financial institutions issue
asset-backed bonds; and mortgage holders issue “mortgage-backed”
pass-through certificates. Each issuer is responsible for paying back the
bond’s initial value as well as for making periodic interest payments. Many
bonds issued by government agencies and entities are neither guaranteed
nor insured by the U.S. government. |
Plain Talk About Credit Quality |
A bond’s credit quality rating is an assessment of the issuer’s ability to pay
interest on the bond and, ultimately, to repay the principal. The lower the
credit quality, the greater the perceived chance that the bond issuer will
default, or fail to meet its payment obligations. All things being equal, the
lower a bond’s credit quality, the higher its yield should be to compensate
investors for assuming additional risk. |
Plain Talk About Growth Funds and Value Funds |
Growth investing and value investing are two styles employed by stock-fund
managers. Growth funds generally invest in stocks of companies believed to
have above-average potential for growth in revenue, earnings, cash flow, or
other similar criteria. These stocks typically have low dividend yields, if any,
and above-average prices in relation to measures such as earnings and book
value. Value funds typically invest in stocks whose prices are below average
in relation to those measures; these stocks often have above-average
dividend yields. Value stocks also may remain undervalued by the market for
long periods of time. Growth and value stocks have historically produced
similar long-term returns, though each category has periods when it
outperforms the other. |
Plain Talk About Derivatives |
Derivatives can take many forms. Some forms of derivatives—such as
exchange-traded futures and options on securities, commodities, or
indexes—have been trading on regulated exchanges for decades. These
types of derivatives are standardized contracts that can easily be bought and
sold and whose market values are determined and published daily. On the
other hand, non-exchange-traded derivatives—such as certain swap
agreements and foreign currency exchange forward contracts—tend to be
more specialized or complex and may be more difficult to accurately value. |
Plain Talk About Vanguard’s Unique Corporate Structure |
The Vanguard Group is owned jointly by the funds it oversees and thus
indirectly by the shareholders in those funds. Most other mutual funds are
operated by management companies that are owned by third parties—either
public or private stockholders—and not by the funds they serve. |
Plain Talk About Distributions |
As a shareholder, you are entitled to your portion of a fund’s income from
interest and dividends as well as capital gains from the fund’s sale of
investments. Income consists of both the dividends that the fund earns from
any stock holdings and the interest it receives from any money market and
bond investments. Capital gains are realized whenever the fund sells
securities for higher prices than it paid for them. These capital gains are
either short-term or long-term, depending on whether the fund held the
securities for one year or less or for more than one year. |
Plain Talk About Buying a Dividend |
Unless you are a tax-exempt investor or investing through a tax-advantaged
account (such as an IRA or an employer-sponsored retirement or savings
plan), you should consider avoiding a purchase of fund shares shortly before
the fund makes a distribution, because doing so can cost you money in
taxes. This is known as “buying a dividend.” For example: On December 15,
you invest $5,000, buying 250 shares for $20 each. If the fund pays a
distribution of $1 per share on December 16, its share price will drop to $19
(not counting market change). You still have only $5,000 (250 shares x $19 =
$4,750 in share value, plus 250 shares x $1 = $250 in distributions), but you
owe tax on the $250 distribution you received—even if you reinvest it in
more shares. To avoid buying a dividend, check a fund’s distribution schedule
before you invest. |
|
Year Ended August 31, |
Oct. 18,
20171 to
August 31, | ||
For a Share Outstanding Throughout Each Period |
2021 |
2020 |
2019 |
2018 |
Net Asset Value, Beginning of Period |
$20.42 |
$20.16 |
$19.87 |
$20.00 |
Investment Operations |
|
|
|
|
Net Investment Income2
|
.446 |
.453 |
.513 |
.443 |
Net Realized and Unrealized Gain (Loss) on Investments |
1.747 |
.263 |
.529 |
(.269) |
Total from Investment Operations |
2.193 |
.716 |
1.042 |
.174 |
Distributions |
|
|
|
|
Dividends from Net Investment Income |
(.393) |
(.456) |
(.473) |
(.304) |
Distributions from Realized Capital Gains |
— |
— |
(.279) |
— |
Total Distributions |
(.393) |
(.456) |
(.752) |
(.304) |
Net Asset Value, End of Period |
$22.22 |
$20.42 |
$20.16 |
$19.87 |
Total Return3
|
10.83% |
3.66% |
5.50% |
0.88% |
Ratios/Supplemental Data |
|
|
|
|
Net Assets, End of Period (Millions) |
$91 |
$81 |
$85 |
$93 |
Ratio of Total Expenses to Average Net Assets4
|
0.41% |
0.41% |
0.42% |
0.43%5,6
|
Ratio of Net Investment Income to Average Net Assets |
2.09% |
2.27% |
2.63% |
2.68%5
|
Portfolio Turnover Rate |
99%7
|
72%7
|
90% |
39% |
|
|
1 |
Subscription period for the fund was October 18, 2017, to November 1, 2017, during which time all assets were
held in cash. Performance measurement began November 2, 2017, the first business day after the subscription
period, at a net asset value of $20.00. |
2 |
Calculated based on average shares outstanding. |
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 |
Includes performance-based investment advisory fee increases (decreases) of (0.01%), (0.01%), and (0.01%).
Performance-based investment advisory fees did not apply before fiscal year 2019. |
5 |
Annualized. |
6 |
The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements
was 0.42%. |
7 |
Includes 33% and 1%, respectively, attributable to mortgage-dollar-roll activity. |
|
Year Ended August 31, |
Oct. 18,
20171 to
August 31, | ||
For a Share Outstanding Throughout Each Period |
2021 |
2020 |
2019 |
2018 |
Net Asset Value, Beginning of Period |
$25.53 |
$25.20 |
$24.84 |
$25.00 |
Investment Operations |
|
|
|
|
Net Investment Income2
|
.594 |
.592 |
.666 |
.577 |
Net Realized and Unrealized Gain (Loss) on Investments |
2.178 |
.334 |
.658 |
(.341) |
Total from Investment Operations |
2.772 |
.926 |
1.324 |
.236 |
Distributions |
|
|
|
|
Dividends from Net Investment Income |
(.522) |
(.596) |
(.616) |
(.396) |
Distributions from Realized Capital Gains |
— |
— |
(.348) |
— |
Total Distributions |
(.522) |
(.596) |
(.964) |
(.396) |
Net Asset Value, End of Period |
$27.78 |
$25.53 |
$25.20 |
$24.84 |
Total Return3
|
10.96% |
3.79% |
5.60% |
0.96% |
Ratios/Supplemental Data |
|
|
|
|
Net Assets, End of Period (Millions) |
$488 |
$389 |
$379 |
$408 |
Ratio of Total Expenses to Average Net Assets4
|
0.28% |
0.31% |
0.32% |
0.33%5,6
|
Ratio of Net Investment Income to Average Net Assets |
2.22% |
2.37% |
2.73% |
2.78%5
|
Portfolio Turnover Rate |
99%7
|
72%7
|
90% |
39% |
|
|
1 |
Subscription period for the fund was October 18, 2017, to November 1, 2017, during which time all assets were
held in cash. Performance measurement began November 2, 2017, the first business day after the subscription
period, at a net asset value of $25.00. |
2 |
Calculated based on average shares outstanding. |
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 |
Includes performance-based investment advisory fee increases (decreases) of (0.01%), (0.01%), and (0.01%).
Performance-based investment advisory fees did not apply before fiscal year 2019. |
5 |
Annualized. |
6 |
The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements
was 0.32%. |
7 |
Includes 33% and 1%, respectively, attributable to mortgage-dollar-roll activity. |
Web |
|
Vanguard.com |
For the most complete source of Vanguard news
For fund, account, and service information
For most account transactions
For literature requests
24 hours a day, 7 days a week |
Phone | |
Vanguard Tele-Account®
800-662-6273 |
For automated fund and account information
Toll-free, 24 hours a day, 7 days a week |
Investor Information 800-662-7447
(Text telephone for people with
hearing impairment at 800-749-7273) |
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(Text telephone for people with
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For account information
For most account transactions |
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For information and services for participants in
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888-809-8102 |
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Sales Support 800-997-2798 |
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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 |
|
Inception
Date |
Newspaper
Abbreviation |
Vanguard
Fund Number |
CUSIP
Number |
Global Wellesley Income Fund | ||||
Investor Shares |
11/2/2017 |
VanGlWellsI |
1496 |
921910758 |
Admiral Shares |
11/2/2017 |
VanGlWellsAdm |
1896 |
921910741 |
| |
Transaction Fee on Purchases and Sales |
|
Transaction Fee on Reinvested Dividends |
|
| |
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 |
Since
Fund
Inception |
Fund
Inception
Date |
Vanguard ESG U.S. Stock 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 |
|
|
|
FTSE US All Cap Choice 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 ESG U.S. Stock ETF Shares’ expense ratio
would be 0.09%, or $0.90 per $1,000 of average net assets. The average
expense ratio for multi-cap core funds in 2020 was 1.00%, or $10.00 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 |
The Vanguard Group 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. |
|
Inception Date |
Vanguard
Fund Number |
CUSIP
Number |
ESG U.S. Stock ETF |
9/18/2018 |
4393 |
921910733 |
|
Year Ended August 31, |
September 18,
20181 to
August 31, | |
For a Share Outstanding Throughout Each Period |
2021 |
2020 |
2019 |
Net Asset Value, Beginning of Period |
$64.47 |
$51.25 |
$50.00 |
Investment Operations |
|
|
|
Net Investment Income2
|
.873 |
.846 |
.792 |
Net Realized and Unrealized Gain (Loss) on Investments |
19.844 |
13.146 |
.868 |
Total from Investment Operations |
20.717 |
13.992 |
1.660 |
Distributions |
|
|
|
Dividends from Net Investment Income |
(.767) |
(.772) |
(.410) |
Distributions from Realized Capital Gains |
— |
— |
— |
Total Distributions |
(.767) |
(.772) |
(.410) |
Net Asset Value, End of Period |
$84.42 |
$64.47 |
$51.25 |
Total Return |
32.41% |
27.60% |
3.40% |
Ratios/Supplemental Data |
|
|
|
Net Assets, End of Period (Millions) |
$5,259 |
$1,974 |
$595 |
Ratio of Total Expenses to Average Net Assets |
0.09% |
0.12% |
0.12%3
|
Ratio of Net Investment Income to Average Net Assets |
1.18% |
1.54% |
1.67%3
|
Portfolio Turnover Rate4
|
6% |
6% |
6% |
|
|
1 |
Inception. |
2 |
Calculated based on average shares outstanding. |
3 |
Annualized. |
4 |
Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of
the fund’s capital shares, including ETF Creation Units. |
| |
Transaction Fee on Purchases and Sales |
|
Transaction Fee on Reinvested Dividends |
|
| |
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 |
Since
Fund
Inception |
Fund
Inception
Date |
Vanguard ESG International Stock 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 |
|
|
|
FTSE Global All Cap ex US Choice Index
(reflects no deduction for fees or expenses) |
|
|
|
FTSE Global All Cap ex US Index
(reflects no deduction for fees or expenses) |
|
|
|
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 ESG International Stock ETF Shares’
expense ratio would be 0.12%, or $1.20 per $1,000 of average net assets.
The average expense ratio for international multi-cap core funds in 2020 was
0.92%, or $9.20 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 International Investing |
U.S. investors who invest in foreign securities will encounter risks not
typically associated with U.S. companies because foreign stock and bond
markets operate differently from the U.S. markets. For instance, foreign
companies and governments may not be subject to the same or similar
accounting, auditing, legal, tax, and financial reporting standards and
practices as U.S. companies and the U.S. government, and their stocks and
bonds may not be as liquid as those of similar U.S. entities. In addition,
foreign stock exchanges, brokers, companies, bond markets, and dealers
may be subject to less government supervision and regulation than their
counterparts in the United States. These factors, among others, could
negatively affect the returns U.S. investors receive from foreign investments. |
Plain Talk About Vanguard’s Unique Corporate Structure |
The Vanguard Group 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. |
|
Inception Date |
Vanguard
Fund Number |
CUSIP
Number |
ESG International Stock ETF |
9/18/2018 |
4394 |
921910725 |
|
Year Ended August 31, |
September 18,
20181 to
August 31, | |
For a Share Outstanding Throughout Each Period |
2021 |
2020 |
2019 |
Net Asset Value, Beginning of Period |
$52.38 |
$48.09 |
$50.00 |
Investment Operations |
|
|
|
Net Investment Income2
|
1.295 |
1.192 |
1.529 |
Net Realized and Unrealized Gain (Loss) on Investments |
11.907 |
4.138 |
(2.714) |
Total from Investment Operations |
13.202 |
5.330 |
(1.185) |
Distributions |
|
|
|
Dividends from Net Investment Income |
(1.242) |
(1.040) |
(.725) |
Distributions from Realized Capital Gains |
— |
— |
— |
Total Distributions |
(1.242) |
(1.040) |
(.725) |
Net Asset Value, End of Period |
$64.34 |
$52.38 |
$48.09 |
Total Return |
25.45% |
11.23% |
-2.36% |
Ratios/Supplemental Data |
|
|
|
Net Assets, End of Period (Millions) |
$2,561 |
$1,205 |
$418 |
Ratio of Total Expenses to Average Net Assets |
0.12% |
0.15% |
0.17%3,4
|
Ratio of Net Investment Income to Average Net Assets |
2.14% |
2.45% |
3.30%3
|
Portfolio Turnover Rate5
|
7% |
12% |
22% |
|
|
1 |
Inception. |
2 |
Calculated based on average shares outstanding. |
3 |
Annualized. |
4 |
The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements
was 0.15%. |
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. |
| |
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 |
$ |
$ |
$ |
$ |
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 ESG U.S. Corporate Bond ETF Shares’
expense ratio would be 0.12%, or $1.20 per $1,000 of average net assets.
The average expense ratio for Corporate Debt Funds BBB-Rated in 2020 was
0.80%, or $8.00 per $1,000 of average net assets (derived from data
provided by Lipper, a Thomson Reuters Company, which reports on the
fund industry). |
Plain Talk About Costs of Investing |
Costs are an important consideration in choosing an ETF. That is because
you, as a shareholder, pay a proportionate share of the costs of operating a
fund and any transaction costs incurred when the fund buys or sells
securities. These costs can erode a substantial portion of the gross income
or the capital appreciation a fund achieves. Even seemingly small differences
in expenses can, over time, have a dramatic effect on a fund’s performance. |
Type of Bond (Maturity) |
After a 1%
Increase |
After a 1%
Decrease |
After a 2%
Increase |
After a 2%
Decrease |
Short-Term (2.5 years) |
$ 977 |
$ 1,024 |
$ 954 |
$ 1,049 |
Intermediate-Term (10 years) |
922 |
1,086 |
851 |
1,180 |
Long-Term (20 years) |
874 |
1,150 |
769 |
1,328 |
Plain Talk About Bonds and Interest Rates |
As a rule, when interest rates rise, bond prices fall. The opposite is also true:
Bond prices go up when interest rates fall. Why do bond prices and interest
rates move in opposite directions? Let’s assume that you hold a bond
offering a 4% yield. A year later, interest rates are on the rise and bonds of
comparable quality and maturity are offered with a 5% yield. With
higher-yielding bonds available, you would have trouble selling your 4% bond
for the price you paid—you would probably have to lower your asking price.
On the other hand, if interest rates were falling and 3% bonds were being
offered, you should be able to sell your 4% bond for more than you paid. |
Plain Talk About Bond Maturities |
A bond is issued with a specific maturity date—the date when the issuer
must pay back the bond’s principal (face value). Bond maturities range from
less than 1 year to more than 30 years. Typically, the longer a bond’s maturity,
the more price risk you, as a bond investor, will face as interest rates
rise—but also the higher the potential yield you could receive. Longer-term
bonds are generally more suitable for investors willing to take a greater risk
of price fluctuations to get higher and more stable interest income.
Shorter-term bond investors should be willing to accept lower yields and
greater income variability in return for less fluctuation in the value of their
investment. The stated maturity of a bond may differ from the effective
maturity of a bond, which takes into consideration that an action such as a
call or refunding may cause bonds to be repaid before their stated
maturity dates. |
Plain Talk About Credit Quality |
A bond’s credit quality rating is an assessment of the issuer’s ability to pay
interest on the bond and, ultimately, to repay the principal. The lower the
credit quality, the greater the perceived chance that the bond issuer will
default, or fail to meet its payment obligations. All things being equal, the
lower a bond’s credit quality, the higher its yield should be to compensate
investors for assuming additional risk. |
Plain Talk About Types of Bonds |
Bonds are issued (sold) by many sources: Corporations issue corporate
bonds; the federal government issues U.S. Treasury bonds; agencies of the
federal government issue agency bonds; financial institutions issue
asset-backed bonds; and mortgage holders issue “mortgage-backed”
pass-through certificates. Each issuer is responsible for paying back the
bond’s initial value as well as for making periodic interest payments. Many
bonds issued by government agencies and entities are neither guaranteed
nor insured by the U.S. government. |
Plain Talk About U.S. Government-Sponsored Enterprises |
A variety of U.S. government-sponsored enterprises (GSEs), such as the
Federal Home Loan Mortgage Corporation (FHLMC), the Federal National
Mortgage Association (FNMA), and the Federal Home Loan Banks (FHLBs),
issue debt and mortgage-backed securities. Although GSEs may be chartered
or sponsored by acts of Congress, they are not funded by congressional
appropriations. In September of 2008, the U.S. Treasury placed FNMA and
FHLMC under conservatorship and appointed the Federal Housing Finance
Agency (FHFA) to manage their daily operations. In addition, the U.S. Treasury
entered into purchase agreements with FNMA and FHLMC to provide them
with capital in exchange for senior preferred stock. Generally, a GSE’s
securities are neither issued nor guaranteed by the U.S. Treasury and are not
backed by the full faith and credit of the U.S. government. In most cases,
these securities are supported only by the credit of the GSE, standing alone. In
some cases, a GSE’s securities may be supported by the ability of the GSE to
borrow from the U.S. Treasury or may be supported by the U.S. government in
some other way. Securities issued by the Government National Mortgage
Association (GNMA), however, are backed by the full faith and credit of the
U.S. government. |
Plain Talk About Derivatives |
Derivatives can take many forms. Some forms of derivatives—such as
exchange-traded futures and options on securities, commodities, or
indexes—have been trading on regulated exchanges for decades. These
types of derivatives are standardized contracts that can easily be bought and
sold and whose market values are determined and published daily. On the
other hand, non-exchange-traded derivatives—such as certain swap
agreements—tend to be more specialized or complex and may be more
difficult to accurately value. |
Plain Talk About Vanguard’s Unique Corporate Structure |
The Vanguard Group 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. |
|
Inception
Date |
Vanguard
Fund Number |
CUSIP
Number |
ESG U.S. Corporate Bond ETF |
9/22/20 |
4158 |
921910691 |
|
September 22,
20201 to
August 31, |
For a Share Outstanding Throughout the Period |
2021 |
Net Asset Value, Beginning of Period |
$75.00 |
Investment Operations |
|
Net Investment Income2
|
1.211 |
Net Realized and Unrealized Gain (Loss) on Investments |
(.330) |
Total from Investment Operations |
.881 |
Distributions |
|
Dividends from Net Investment Income |
(1.021) |
Distributions from Realized Capital Gains |
— |
Total Distributions |
(1.021) |
Net Asset Value, End of Period |
$74.86 |
Total Return |
1.20% |
Ratios/Supplemental Data |
|
Net Assets, End of Period (Millions) |
$217 |
Ratio of Total Expenses to Average Net Assets |
0.12%3
|
Ratio of Net Investment Income to Average Net Assets |
1.74%3
|
Portfolio Turnover Rate4
|
24% |
|
|
1 |
Inception. |
2 |
Calculated based on average shares outstanding. |
3 |
Annualized. |
4 |
Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of
the fund’s capital shares, including ETF Creation Units. |
B-1 | |
B-4 | |
B-5 | |
B-36 | |
B-36 | |
B-37 | |
B-63 | |
B-85 | |
B-88 | |
B-88 | |
B-111 | |
B-112 | |
B-115 |
|
Share Classes1 | ||||
Vanguard Fund2 |
Investor |
Admiral |
Institutional |
Institutional
Plus |
|
Vanguard U.S. Growth Fund |
VWUSX |
VWUAX |
— |
— |
|
Vanguard International Growth Fund |
VWIGX |
VWILX |
— |
— |
|
Vanguard Extended Duration Treasury Index Fund |
— |
— |
VEDTX |
VEDIX |
|
Vanguard FTSE Social Index Fund |
— |
VFTAX |
VFTNX |
— |
|
Vanguard Communication Services Index Fund3 |
— |
VTCAX |
— |
— |
|
Vanguard Consumer Discretionary Index Fund |
— |
VCDAX |
— |
— |
|
Vanguard Consumer Staples Index Fund |
— |
VCSAX |
— |
— |
|
Vanguard Energy Index Fund |
— |
VENAX |
— |
— |
|
Vanguard Financials Index Fund |
— |
VFAIX |
— |
— |
|
Vanguard Health Care Index Fund |
— |
VHCIX |
— |
— |
|
Vanguard Industrials Index Fund |
— |
VINAX |
— |
— |
|
Vanguard Information Technology Index Fund |
— |
VITAX |
— |
— |
|
Vanguard Materials Index Fund |
— |
VMIAX |
— |
— |
|
Vanguard Utilities Index Fund |
— |
VUIAX |
— |
— |
|
Vanguard Mega Cap Index Fund |
— |
— |
VMCTX |
— |
|
Vanguard Mega Cap Value Index Fund |
— |
— |
VMVLX |
— |
|
Vanguard Mega Cap Growth Index Fund |
— |
— |
VMGAX |
— |
|
Vanguard Global Wellington™ Fund |
VGWLX |
VGWAX |
— |
— |
|
Vanguard Global Wellesley® Income Fund |
VGWIX |
VGYAX |
— |
— |
|
Vanguard ESG U.S. Stock ETF |
— |
— |
— |
— |
|
Vanguard ESG International Stock ETF |
— |
— |
— |
— |
|
Vanguard ESG U.S. Corporate Bond ETF |
— |
— |
— |
— |
Vanguard Fund |
2019 |
2020 |
2021 |
Vanguard Communications Services Index Fund |
$— |
$— |
$15,755.30 |
Vanguard Consumer Discretionary Index Fund |
— |
— |
14,574.16 |
Vanguard Consumer Staples Index Fund |
— |
— |
14,246.30 |
Vanguard Energy Index Fund |
— |
— |
13,578.12 |
Vanguard ESG International Stock ETF |
— |
5,666.64 |
16,999.92 |
Vanguard ESG U.S. Corporate Bond ETF |
— |
— |
— |
Vanguard ESG U.S. Stock ETF |
— |
8,499.96 |
16,999.92 |
Vanguard Extended Duration Treasury Index Fund |
— |
— |
2,213.26 |
Vanguard Financials Index Fund |
— |
— |
997.41 |
Vanguard FTSE Social Index Fund |
— |
— |
6,810.09 |
Vanguard Global Wellesley Income Fund |
— |
— |
2,880.56 |
Vanguard Global Wellington Fund |
— |
— |
2,384.01 |
Vanguard Heatlh Care Index Fund |
— |
— |
2,091.64 |
Vanguard Industrials Index Fund |
— |
— |
15,195.19 |
Vanguard Information Technology Index Fund |
— |
— |
1,790.53 |
Vanguard International Growth Fund |
— |
— |
13,272.74 |
Vanguard Materials Index Fund |
— |
— |
12,768.28 |
Vanguard Mega Cap 300 Growth Index Fund |
— |
— |
63.23 |
Vanguard Mega Cap 300 Index Fund |
— |
— |
15,386.96 |
Vanguard Mega Cap 300 Value Index Fund |
— |
— |
492.12 |
Vanguard U.S. Growth Fund |
— |
— |
11,420.54 |
Vanguard Utilities Index Fund |
— |
— |
12,635.67 |
Vanguard Fund |
Capital
Contribution
to Vanguard |
Percentage of
Fund’s Average
Net Assets |
Percent of
Vanguard Funds’
Contribution |
Vanguard U.S. Growth Fund |
$ 1,801,000 |
Less than 0.01% |
0.72% |
Vanguard International Growth Fund |
2,401,000 |
Less than 0.01% |
0.96 |
Vanguard Extended Duration Treasury Index Fund |
88,000 |
Less than 0.01% |
0.04 |
Vanguard FTSE Social Index Fund |
487,000 |
Less than 0.01% |
0.19 |
Vanguard Communication Services Index Fund |
158,000 |
Less than 0.01% |
0.06 |
Vanguard Consumer Discretionary Index Fund |
245,000 |
Less than 0.01% |
0.10 |
Vanguard Consumer Staples Index Fund |
223,000 |
Less than 0.01% |
0.09 |
Vanguard Energy Index Fund |
206,000 |
Less than 0.01% |
0.08 |
Vanguard Financials Index Fund |
378,000 |
Less than 0.01% |
0.15 |
Vanguard Health Care Index Fund |
643,000 |
Less than 0.01% |
0.26 |
Vanguard Industrials Index Fund |
193,000 |
Less than 0.01% |
0.08 |
Vanguard Information Technology Index Fund |
1,892,000 |
Less than 0.01% |
0.76 |
Vanguard Materials Index Fund |
164,000 |
Less than 0.01% |
0.07 |
Vanguard Utilities Index Fund |
215,000 |
Less than 0.01% |
0.09 |
Vanguard Mega Cap Index Fund |
145,000 |
Less than 0.01% |
0.06 |
Vanguard Mega Cap Value Index Fund |
154,000 |
Less than 0.01% |
0.06 |
Vanguard Mega Cap Growth Index Fund |
410,000 |
Less than 0.01% |
0.16 |
Vanguard Global Wellesley Income Fund |
19,000 |
Less than 0.01% |
0.01 |
Vanguard Global Wellington Fund |
61,000 |
Less than 0.01% |
0.02 |
Vanguard ESG U.S. Stock ETF |
165,000 |
Less than 0.01% |
0.07 |
Vanguard ESG International Stock ETF |
80,000 |
Less than 0.01% |
0.03 |
Vanguard ESG U.S. Corporate Bond ETF |
6,000 |
Less than 0.01% |
0.01 |
Annual Shared Fund Operating Expenses
(Shared Expenses Deducted From Fund Assets) | |||
Vanguard Fund |
2019 |
2020 |
2021 |
Vanguard Communication Services Index Fund |
|
|
|
Management and Administrative Expenses |
0.08% |
0.08% |
0.09% |
Marketing and Distribution Expenses |
0.01 |
0.01 |
Less than 0.01 |
Vanguard Consumer Discretionary Index Fund |
|
|
|
Management and Administrative Expenses |
0.09% |
0.09% |
0.09% |
Marketing and Distribution Expenses |
Less than 0.01 |
0.01 |
Less than 0.01 |
Vanguard Consumer Staples Index Fund |
|
|
|
Management and Administrative Expenses |
0.09% |
0.09% |
0.09% |
Marketing and Distribution Expenses |
0.01 |
0.01 |
Less than 0.01 |
Vanguard Energy Index Fund |
|
|
|
Management and Administrative Expenses |
0.08% |
0.08% |
0.09% |
Marketing and Distribution Expenses |
Less than 0.01 |
Less than 0.01 |
Less than 0.01 |
Vanguard ESG International Stock ETF |
|
|
|
Management and Administrative Expenses |
0.11% |
0.13% |
0.09% |
Marketing and Distribution Expenses |
0.01 |
0.01 |
Less than 0.01 |
Vanguard ESG U.S. Corporate Bond ETF |
|
|
|
Management and Administrative Expenses |
— |
— |
0.07% |
Marketing and Distribution Expenses |
— |
— |
Less than 0.01 |
Vanguard ESG U.S. Stock ETF |
|
|
|
Management and Administrative Expenses |
0.09% |
0.10% |
0.08% |
Marketing and Distribution Expenses |
0.01 |
Less than 0.01 |
Less than 0.01 |
Vanguard Extended Duration Treasury Index Fund |
|
|
|
Management and Administrative Expenses |
0.05% |
0.05% |
0.05% |
Marketing and Distribution Expenses |
Less than 0.01 |
Less than 0.01 |
Less than 0.01 |
Vanguard Financials Index Fund |
|
|
|
Management and Administrative Expenses |
0.09% |
0.09% |
0.09% |
Marketing and Distribution Expenses |
0.01 |
0.01 |
Less than 0.01 |
Vanguard FTSE Social Index Fund |
|
|
|
Management and Administrative Expenses |
0.12% |
0.12% |
0.13% |
Marketing and Distribution Expenses |
0.01 |
Less than 0.01 |
Less than 0.01 |
Vanguard Global Wellesley Income Fund |
|
|
|
Annual Shared Fund Operating Expenses
(Shared Expenses Deducted From Fund Assets) | |||
Vanguard Fund |
2019 |
2020 |
2021 |
Management and Administrative Expenses |
0.20% |
0.19% |
0.17% |
Marketing and Distribution Expenses |
0.01 |
0.01 |
0.01 |
Vanguard Global Wellington Fund |
|
|
|
Management and Administrative Expenses |
0.20% |
0.20% |
0.18% |
Marketing and Distribution Expenses |
0.01 |
0.01 |
Less than 0.01 |
Vanguard Health Care Index Fund |
|
|
|
Management and Administrative Expenses |
0.09% |
0.09% |
0.09% |
Marketing and Distribution Expenses |
Less than 0.01 |
0.01 |
Less than 0.01 |
Vanguard Industrials Index Fund |
|
|
|
Management and Administrative Expenses |
0.09% |
0.09% |
0.09% |
Marketing and Distribution Expenses |
0.01 |
0.01 |
Less than 0.01 |
Vanguard Information Technology Index Fund |
|
|
|
Management and Administrative Expenses |
0.09% |
0.09% |
0.09% |
Marketing and Distribution Expenses |
Less than 0.01 |
Less than 0.01 |
Less than 0.01 |
Vanguard International Growth Fund |
|
|
|
Management and Administrative Expenses |
0.16% |
0.15% |
0.16% |
Marketing and Distribution Expenses |
0.01 |
0.01 |
Less than 0.01 |
Vanguard Materials Index Fund |
|
|
|
Management and Administrative Expenses |
0.08% |
0.08% |
0.09% |
Marketing and Distribution Expenses |
0.01 |
0.01 |
Less than 0.01 |
Vanguard Mega Cap Growth 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 Mega Cap Index Fund |
|
|
|
Management and Administrative Expenses |
0.05% |
0.06% |
0.06% |
Marketing and Distribution Expenses |
Less than 0.01 |
Less than 0.01 |
Less than 0.01 |
Vanguard Mega Cap Value Index Fund |
|
|
|
Management and Administrative Expenses |
0.06% |
0.06% |
0.06% |
Marketing and Distribution Expenses |
Less than 0.01 |
0.01 |
Less than 0.01 |
Vanguard U.S. Growth Fund |
|
|
|
Management and Administrative Expenses |
0.16% |
0.16% |
0.15% |
Marketing and Distribution Expenses |
0.01 |
0.01 |
Less than 0.01 |
Vanguard Utilities Index Fund |
|
|
|
Management and Administrative Expenses |
0.09% |
0.09% |
0.09% |
Marketing and Distribution Expenses |
0.01 |
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. Chairman of the board (2011–2017) and
trustee (2009–2017) of the Children’s Hospital of
Philadelphia; and trustee (2018–present) and vice chair
(2019–present) of The Shipley School. |
217 |
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 (2002–2006), the University
of California, Berkeley School of Engineering
(2020–present), and Santa Clara University’s School of
Business (2018–present). |
217 |
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. Director of SPX
FLOW, Inc. (multi-industry manufacturing). Director of
the University of Rochester Medical Center, the
Monroe Community College Foundation, the United
Way of Rochester, North Carolina A&T University, and
Roberts Wesleyan College. Trustee of the University of
Rochester. |
217 |
Amy Gutmann
(1949) |
Trustee |
June 2006 |
President (2004–present) of the University of
Pennsylvania. Christopher H. Browne Distinguished
Professor of Political Science, School of Arts and
Sciences, and professor of communication, Annenberg
School for Communication, with secondary faculty
appointments in the Department of Philosophy, School
of Arts and Sciences, and at the Graduate School of
Education, University of Pennsylvania. |
217 |
F. Joseph Loughrey
(1949) |
Trustee |
October 2009 |
President and chief operating officer (retired 2009) and
vice chairman of the board (2008–2009) of Cummins
Inc. (industrial machinery). Chairman of the board of
Hillenbrand, Inc. (specialized consumer services).
Director of the V Foundation. Member of the advisory
council for the College of Arts and Letters and chair of
the advisory board to the Kellogg Institute for
International Studies, both at the University of Notre
Dame. Chairman of the board of Saint Anselm College. |
217 |
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. |
217 |
Scott C. Malpass
(1962) |
Trustee |
March 2012 |
Chief investment officer and vice president of the
University of Notre Dame (retired 2020). Assistant
professor of finance at the Mendoza College of
Business, University of Notre Dame (retired 2020), and
member of the Notre Dame 403(b) Investment
Committee. Member of the board of Catholic
Investment Services, Inc. (investment advisors) and
the board of superintendence of the Institute for the
Works of Religion. |
217 |
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 |
Deanna Mulligan
(1963) |
Trustee |
January 2018 |
Board chair (2020), chief executive officer (2011–2020),
and president (2010–2019) of The Guardian Life
Insurance Company of America. Chief operating officer
(2010–2011) and executive vice president (2008–2010)
of Individual Life and Disability of The Guardian Life
Insurance Company of America. Member of the board
of the Economic Club of New York. Trustee of the
Partnership for New York City (business leadership),
the Chief Executives for Corporate Purpose, the New
York-Presbyterian Hospital, and the Bruce Museum
(arts and science). Member of the Advisory Council for
the Stanford Graduate School of Business. |
217 |
André F. Perold
(1952) |
Trustee |
December 2004 |
George Gund Professor of Finance and Banking,
Emeritus at the Harvard Business School (retired
2011). Chief investment officer and co-managing
partner of HighVista Strategies LLC (private
investment firm). Board member (2018–present) of RIT
Capital Partners (investment firm); investment
committee member of Partners Health Care System. |
217 |
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. Professor (2020–present), Distinguished
Fellow of the Global Financial Markets Center
(2020–present), and Rubenstein Fellow (2017–2020) of
Duke University; trustee (2017–present) of Amherst
College; member of the Amherst College Investment
Committee (2019–present); and member of the
Regenerative Crisis Response Committee
(2020–present). |
217 |
David Thomas
(1956) |
Trustee |
July 2021 |
President of Morehouse College (2018–present).
Professor of Business Administration Emeritus at
Harvard University (2017–2018) and Dean (2011–2016)
and Professor of Management at Georgetown
University, McDonough School of Business
(2016–2017). Director of DTE Energy Company
(2013–present). Trustee of Common Fund
(2019–present). |
217 |
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). Chairman of the
board of trustees of Colby-Sawyer College. Member of
the BMW Group Mobility Council. |
217 |
Executive Officers |
|
|
|
|
Christine M. Buchanan
(1970) |
Chief Financial
Officer and
Acting Treasurer |
November 2017 |
Principal of Vanguard. Chief financial officer
(2021–present) and treasurer (2017–present; acting
October 2021–present) of each of the investment
companies served by Vanguard. Partner (2005–2017) at
KPMG (audit, tax, and advisory services). |
217 |
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 |
David Cermak
(1960) |
Finance Director |
October 2019 |
Principal of Vanguard. Finance director (2019–present)
of each of the investment companies served by
Vanguard. Managing director and head (2017–present)
of Vanguard Investments Singapore. Managing director
and head (2017–2019) of Vanguard Investments Hong
Kong. Representative director and head (2014–2017)
of Vanguard Investments Japan. |
217 |
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. Deputy Assistant to
the President of the United States (2015). |
217 |
Peter Mahoney
(1974) |
Controller |
May 2015 |
Principal of Vanguard. Controller (2015–present) of
each of the investment companies served by
Vanguard. Head of International Fund Services (2008–
2014) at Vanguard. |
217 |
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. |
217 |
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. |
217 |
John E. Schadl
(1972) |
Chief
Compliance
Officer |
March 2019 |
Principal of Vanguard. Chief compliance officer
(2019–present) of Vanguard and of each of the
investment companies served by Vanguard. Assistant
vice president (2019–present) of Vanguard Marketing
Corporation. |
217 |
Trustee |
Aggregate
Compensation From
the Funds1 |
Pension or Retirement
Benefits Accrued as Part of
the Funds’ Expenses1 |
Accrued Annual
Retirement Benefit at
January 1, 20212 |
Total Compensation
From All Vanguard
Funds Paid to Trustees3 |
Mortimer J. Buckley |
— |
— |
— |
— |
Tara Bunch4
|
— |
— |
— |
— |
Emerson U. Fullwood |
$17,129 |
— |
— |
$287,500 |
Amy Gutmann |
17,129 |
— |
— |
287,500 |
F. Joseph Loughrey |
18,167 |
— |
— |
307,500 |
Mark Loughridge |
20,766 |
— |
— |
357,500 |
Scott C. Malpass |
17,129 |
— |
— |
287,500 |
Deanna Mulligan |
17,129 |
— |
— |
287,500 |
André F. Perold |
17,129 |
— |
— |
287,500 |
Trustee |
Aggregate
Compensation From
the Funds1 |
Pension or Retirement
Benefits Accrued as Part of
the Funds’ Expenses1 |
Accrued Annual
Retirement Benefit at
January 1, 20212 |
Total Compensation
From All Vanguard
Funds Paid to Trustees3 |
Sarah Bloom Raskin |
18,167 |
— |
— |
307,500 |
David A. Thomas5
|
1,631 |
— |
— |
— |
Peter F. Volanakis |
18,167 |
— |
— |
307,500 |
Vanguard Fund |
Trustee |
Dollar Range of
Fund Shares
Owned by Trustee |
Aggregate Dollar Range
of Vanguard Fund Shares
Owned by Trustee |
Vanguard Communication Services Index Fund |
Mortimer J. Buckley |
— |
Over $100,000 |
|
Emerson U. Fullwood |
— |
Over $100,000 |
|
Amy Gutmann |
— |
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 |
|
Peter F. Volanakis |
— |
Over $100,000 |
|
|
|
|
Vanguard Consumer Discretionary Index Fund |
Mortimer J. Buckley |
— |
Over $100,000 |
|
Emerson U. Fullwood |
— |
Over $100,000 |
|
Amy Gutmann |
— |
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 |
|
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 Consumer Staples Index Fund |
Mortimer J. Buckley |
— |
Over $100,000 |
|
Emerson U. Fullwood |
— |
Over $100,000 |
|
Amy Gutmann |
— |
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 |
|
Peter F. Volanakis |
— |
Over $100,000 |
|
|
|
|
Vanguard Energy Index Fund |
Mortimer J. Buckley |
— |
Over $100,000 |
|
Emerson U. Fullwood |
— |
Over $100,000 |
|
Amy Gutmann |
— |
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 |
|
Peter F. Volanakis |
— |
Over $100,000 |
|
|
|
|
Vanguard ESG International Stock ETF |
Mortimer J. Buckley |
— |
Over $100,000 |
|
Emerson U. Fullwood |
— |
Over $100,000 |
|
Amy Gutmann |
— |
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 |
|
Peter F. Volanakis |
— |
Over $100,000 |
|
|
|
|
Vanguard ESG U.S. Corporate Bond ETF |
Mortimer J. Buckley |
— |
Over $100,000 |
|
Emerson U. Fullwood |
— |
Over $100,000 |
|
Amy Gutmann |
— |
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 |
|
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 ESG U.S. Stock ETF |
Mortimer J. Buckley |
— |
Over $100,000 |
|
Emerson U. Fullwood |
— |
Over $100,000 |
|
Amy Gutmann |
— |
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 |
|
Peter F. Volanakis |
— |
Over $100,000 |
|
|
|
|
Vanguard Extended Duration Treasury Index Fund |
Mortimer J. Buckley |
— |
Over $100,000 |
|
Emerson U. Fullwood |
— |
Over $100,000 |
|
Amy Gutmann |
— |
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 |
|
Peter F. Volanakis |
— |
Over $100,000 |
|
|
|
|
Vanguard Financials Index Fund |
Mortimer J. Buckley |
— |
Over $100,000 |
|
Emerson U. Fullwood |
— |
Over $100,000 |
|
Amy Gutmann |
— |
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 |
|
Peter F. Volanakis |
— |
Over $100,000 |
|
|
|
|
Vanguard FTSE Social Index Fund |
Mortimer J. Buckley |
— |
Over $100,000 |
|
Emerson U. Fullwood |
— |
Over $100,000 |
|
Amy Gutmann |
— |
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 |
|
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 Global Wellesley Income Fund |
Mortimer J. Buckley |
— |
Over $100,000 |
|
Emerson U. Fullwood |
— |
Over $100,000 |
|
Amy Gutmann |
— |
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 |
|
Peter F. Volanakis |
— |
Over $100,000 |
|
|
|
|
Vanguard Global Wellington Fund |
Mortimer J. Buckley |
— |
Over $100,000 |
|
Emerson U. Fullwood |
— |
Over $100,000 |
|
Amy Gutmann |
— |
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 |
Over $100,000 |
|
André F. Perold |
— |
Over $100,000 |
|
Sarah Bloom Raskin |
— |
Over $100,000 |
|
Peter F. Volanakis |
— |
Over $100,000 |
|
|
|
|
Vanguard Health Care Index Fund |
Mortimer J. Buckley |
— |
Over $100,000 |
|
Emerson U. Fullwood |
— |
Over $100,000 |
|
Amy Gutmann |
— |
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 |
|
Peter F. Volanakis |
— |
Over $100,000 |
|
|
|
|
Vanguard Industrials Index Fund |
Mortimer J. Buckley |
— |
Over $100,000 |
|
Emerson U. Fullwood |
— |
Over $100,000 |
|
Amy Gutmann |
— |
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 |
|
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 Information Technology Index Fund |
Mortimer J. Buckley |
— |
Over $100,000 |
|
Emerson U. Fullwood |
— |
Over $100,000 |
|
Amy Gutmann |
— |
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 |
|
Peter F. Volanakis |
— |
Over $100,000 |
|
|
|
|
Vanguard International Growth Fund |
Mortimer J. Buckley |
Over $100,000 |
Over $100,000 |
|
Emerson U. Fullwood |
Over $100,000 |
Over $100,000 |
|
Amy Gutmann |
— |
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 |
|
Peter F. Volanakis |
Over $100,000 |
Over $100,000 |
|
|
|
|
Vanguard Materials Index Fund |
Mortimer J. Buckley |
— |
Over $100,000 |
|
Emerson U. Fullwood |
— |
Over $100,000 |
|
Amy Gutmann |
— |
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 |
|
Peter F. Volanakis |
— |
Over $100,000 |
|
|
|
|
Vanguard Mega Cap Growth Index Fund |
Mortimer J. Buckley |
— |
Over $100,000 |
|
Emerson U. Fullwood |
— |
Over $100,000 |
|
Amy Gutmann |
— |
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 |
|
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 Mega Cap Index Fund |
Mortimer J. Buckley |
— |
Over $100,000 |
|
Emerson U. Fullwood |
— |
Over $100,000 |
|
Amy Gutmann |
— |
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 |
|
Peter F. Volanakis |
— |
Over $100,000 |
|
|
|
|
Vanguard Mega Cap Value Index Fund |
Mortimer J. Buckley |
— |
Over $100,000 |
|
Emerson U. Fullwood |
— |
Over $100,000 |
|
Amy Gutmann |
— |
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 |
|
Peter F. Volanakis |
— |
Over $100,000 |
|
|
|
|
Vanguard U.S. Growth Fund |
Mortimer J. Buckley |
— |
Over $100,000 |
|
Emerson U. Fullwood |
Over $100,000 |
Over $100,000 |
|
Amy Gutmann |
— |
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 |
— |
Over $100,000 |
|
Peter F. Volanakis |
Over $100,000 |
Over $100,000 |
|
|
|
|
Vanguard Utilities Index Fund |
Mortimer J. Buckley |
— |
Over $100,000 |
|
Emerson U. Fullwood |
— |
Over $100,000 |
|
Amy Gutmann |
— |
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 |
|
Peter F. Volanakis |
— |
Over $100,000 |
Vanguard Fund |
Share Class |
Owner and Address |
Percentage
of Ownership |
Vanguard Communication Services Index Fund |
Admiral Shares |
JP MORGAN SECURITIES LLC
OMNIBUS ACCOUNT BROOKLYN, NY |
5.36% |
|
|
NATIONAL FINANCIAL SERVICES
CORPORATION JERSEY CITY, NJ |
14.39% |
Vanguard Consumer Discretionary Index Fund |
Admiral Shares |
NATIONAL FINANCIAL SERVICES
CORPORATION JERSEY CITY, NJ |
6.70% |
Vanguard Consumer Staples Index Fund |
Admiral Shares |
NATIONAL FINANCIAL SERVICES
CORPORATION JERSEY CITY, NJ |
11.64% |
Vanguard Energy Index Fund |
Admiral Shares |
MAC & CO PITTSBURGH, PA |
6.40% |
|
|
TD AMERITRADE HOLDING
CORPORATION TOWNSEND, MA |
5.72% |
Vanguard Extended Duration Treasury Index Fund |
Institutional Shares |
COMPENSATION AT RETIREMENT
TRUST VFTC FBO COMPENSATION AT
RETIREMENT (CAR) PLAN OF BOLER
COMPANY SCHAUMBURG, IL |
8.33% |
|
|
NEW YORK UNIVERSITY STAFF
PENSION PLAN
(NON-CONTRIBUTORY) NEW YORK, NY |
10.82% |
|
|
THE NORTHERN TRUST COMPANY
FBO JOHNS HOPKINS HEALTH
SYSTEM CHICAGO, IL |
11.26% |
|
|
THE NORTHERN TRUST COMPANY
FBO UNIVERSITY OF CHICAGO
CHICAGO, IL |
5.12% |
|
|
THE NORTHERN TRUST COMPANY
TRUSTEE U OF C - 3 LONG DURATION
CHICAGO, IL |
7.33% |
|
|
UTICA MUTUAL NATIONAL
INSURANCE CO NEW HARTFORD,NY |
5.97% |
|
|
UNIVERSITY OF VIRGINIA PHYSICIANS
GROUP CLINICIANS SUPPLEMENTAL
RETIREMENT PLAN
CHARLOTTESVILLE, VA |
6.27% |
|
|
US BANK NA MILWAUKEE,WI |
5.81% |
|
Institutional Plus Shares |
MAC & CO PITTSBURGH, PA |
27.07% |
|
|
THE NORTHERN TRUST COMPANY
FBO TNT-LDN-AVANGRID INC DEFINED
BENEFIT CHICAGO, IL |
23.21% |
|
|
TRANSOCEAN U.S. RETIREMENT
PLAN HOUSTON, TX |
49.73% |
Vanguard Financials Index Fund |
Admiral Shares |
NATIONAL FINANCIAL SERVICES
CORPORATION JERSEY CITY, NJ |
7.16% |
Vanguard FTSE Social Index Fund |
Admiral Shares |
CHARLES SCHWAB & CO INC SAN
FRANCISCO, CA |
9.64% |
|
|
FIDELITY INVESTMENTS
INSTITUTIONAL OPERATIONS CO
COVINGTON, KY |
6.30% |
|
Institutional Shares |
CHARLES SCHWAB & CO INC SAN
FRANCISCO, CA |
7.34% |
|
|
FIDELITY INVESTMENTS
INSTITUTIONAL OPERATIONS CO
COVINGTON, KY |
39.08% |
|
|
KAISER PERMANENTE 401K
RETIREMENT PLAN (KP401K)
OAKLAND, CA |
7.28% |
Vanguard Fund |
Share Class |
Owner and Address |
Percentage
of Ownership |
Vanguard Global Wellesley Income Fund |
Investor Shares |
NATIONAL FINANCIAL SERVICES
CORPORATION JERSEY CITY, NJ |
8.59% |
|
Admiral Shares |
NATIONAL FINANCIAL SERVICES
CORPORATION JERSEY CITY, NJ |
7.73% |
Vanguard Global Wellington Fund |
Investor Shares |
NATIONAL FINANCIAL SERVICES
CORPORATION JERSEY CITY, NJ |
15.41% |
|
Admiral Shares |
NATIONAL FINANCIAL SERVICES
CORPORATION JERSEY CITY, NJ |
25.83% |
Vanguard Industrials Index Fund |
Admiral Shares |
NATIONAL FINANCIAL SERVICES
CORPORATION JERSEY CITY, NJ |
32.40% |
Vanguard Information Technology Index Fund |
Admiral Shares |
CHARLES SCHWAB & CO INC SAN
FRANCISCO, CA |
5.99% |
|
|
NATIONAL FINANCIAL SERVICES
CORPORATION JERSEY CITY, NJ |
5.07% |
Vanguard International Growth Fund |
Investor Shares |
CHARLES SCHWAB & CO INC SAN
FRANCISCO, CA |
10.55% |
|
|
VANGUARD STAR FUND VALLEY
FORGE, PA |
26.33% |
|
|
NATIONAL FINANCIAL SERVICES
CORPORATION JERSEY CITY, NJ |
8.59% |
|
Admiral Shares |
CHARLES SCHWAB & CO INC SAN
FRANCISCO, CA |
9.22% |
Vanguard Materials Index Fund |
Admiral Shares |
CHARLES SCHWAB & CO INC SAN
FRANCISCO, CA |
16.93% |
Vanguard Mega Cap Growth Index Fund |
Institutional Shares |
CHENGWEN WANG LAS VEGAS, NV |
34.53% |
|
|
JP MORGAN SECURITIES LLC
OMNIBUS ACCOUNT BROOKLYN, NY |
22.99% |
|
|
MAC & CO PITTSBURGH, PA |
23.86% |
|
|
MG TRUST LEGACY WTRISC FBO
PHX-ONEAMERICA (WI OFFICE)
PHOENIX, AZ |
9.67% |
|
|
NATIONAL FINANCIAL SERVICES
CORPORATION JERSEY CITY, NJ |
8.73% |
Vanguard Mega Cap Index Fund |
Institutional Shares |
BENEFIT TRUST FBO LIBERTY ENERGY
UTILITIES OVERLAND PARK, KS |
51.93% |
|
|
COMMUNITY FOUNDATION OF NEW
JERSEY BALANCE PORTFOLIO POOL
MORRISTOWN, NJ |
8.68% |
|
|
FEDERATION OF STATE BOARDS OF
PHYSICAL THERAPY ALEXANDRIA, VA |
7.93% |
|
|
WELLS FARGO BANK NA FBO
GUILFORD PENSION TRUST
MINNEAPOLIS, MN |
10.73% |
Vanguard Mega Cap Value Index Fund |
Institutional Shares |
CINCINNATI BENGALS INC
CINCINNATI, OH |
8.49% |
|
|
NATIONAL FINANCIAL SERVICES
CORPORATION JERSEY CITY, NJ |
8.14% |
Vanguard U.S. Growth Fund |
Investor Shares |
VANGUARD STAR FUND VALLEY
FORGE, PA |
28.88% |
|
|
VANGUARD DIVERSITY EQUITY FUND
VALLEY FORGE, PA |
7.32% |
|
Admiral Shares |
FIDELITY INVESTMENTS
INSTITUTIONAL OPERATIONS CO
COVINGTON, KY |
8.70% |
Vanguard Utilities Index Fund |
Admiral Shares |
NATIONAL FINANCIAL SERVICES
CORPORATION JERSEY CITY, NJ |
5.97% |
Vanguard Fund |
Owner |
Percentage
of Ownership |
Vanguard Communication Services ETF |
Ameriprise Advisor Services, Inc. |
6.65% |
|
Charles Schwab & Co., Inc. |
11.72% |
|
J.P. Morgan Clearing Corp. |
5.34% |
|
JPMorgan Chase Bank, National Association |
9.97% |
|
Merrill Lynch, Pierce, Fenner & Smith Incorporated |
6.66% |
|
National Financial Services LLC |
7.53% |
|
TD Ameritrade Clearing, Inc. |
7.37% |
|
Vanguard Marketing Corporation |
5.23% |
Vanguard Consumer Discretionary ETF |
Charles Schwab & Co., Inc. |
11.68% |
|
Merrill Lynch, Pierce, Fenner & Smith Incorporated |
8.43% |
|
National Financial Services LLC |
10.82% |
|
TD Ameritrade Clearing, Inc. |
8.27% |
|
Vanguard Marketing Corporation |
16.77% |
Vanguard Consumer Staples ETF |
Charles Schwab & Co., Inc. |
11.10% |
|
Merrill Lynch, Pierce, Fenner & Smith Incorporated |
15.81% |
|
National Financial Services LLC |
12.47% |
|
Pershing LLC |
5.07% |
|
TD Ameritrade Clearing, Inc. |
9.62% |
|
Vanguard Marketing Corporation |
13.01% |
Vanguard Energy ETF |
Charles Schwab & Co., Inc. |
11.79% |
|
Merrill Lynch, Pierce, Fenner & Smith Incorporated |
5.52% |
|
National Financial Services LLC |
10.90% |
|
TD Ameritrade Clearing, Inc. |
10.25% |
|
Vanguard Marketing Corporation |
19.24% |
Vanguard ESG International Stock ETF |
Charles Schwab & Co., Inc. |
11.25% |
|
JPMorgan Chase Bank, National Association |
5.85% |
|
National Financial Services LLC |
6.66% |
|
Vanguard Marketing Corporation |
46.21% |
Vanguard ESG U.S. Corporate Bond ETF |
Charles Schwab & Co., Inc. |
9.59% |
|
Vanguard Marketing Corporation |
74.01% |
Vanguard ESG U.S. Stock ETF |
Charles Schwab & Co., Inc. |
11.70% |
|
JPMorgan Chase Bank, National Association |
6.41% |
|
National Financial Services LLC |
7.38% |
|
TD Ameritrade Clearing, Inc. |
5.94% |
|
Vanguard Marketing Corporation |
33.54% |
Vanguard Extended Duration Treasury ETF |
Charles Schwab & Co., Inc. |
11.45% |
|
Merrill Lynch, Pierce, Fenner & Smith Incorporated |
5.69% |
|
National Financial Services LLC |
11.39% |
|
TD Ameritrade Clearing, Inc. |
11.97% |
|
Vanguard Marketing Corporation |
17.99% |
Vanguard Financials ETF |
Charles Schwab & Co., Inc. |
10.05% |
|
JPMorgan Chase Bank, National Association |
5.21% |
|
Merrill Lynch, Pierce, Fenner & Smith Incorporated |
22.89% |
|
National Financial Services LLC |
8.76% |
|
TD Ameritrade Clearing, Inc. |
5.12% |
|
Vanguard Marketing Corporation |
9.31% |
Vanguard Fund |
Owner |
Percentage
of Ownership |
Vanguard Health Care ETF |
Charles Schwab & Co., Inc. |
14.14% |
|
National Financial Services LLC |
10.85% |
|
TD Ameritrade Clearing, Inc. |
7.22% |
|
Vanguard Marketing Corporation |
17.94% |
Vanguard Industrials ETF |
Charles Schwab & Co., Inc. |
8.25% |
|
First Clearing, LLC |
6.58% |
|
Merrill Lynch, Pierce, Fenner & Smith Incorporated |
30.28% |
|
Morgan Stanley DW Inc. |
5.18% |
|
National Financial Services LLC |
7.58% |
|
TD Ameritrade Clearing, Inc. |
6.92% |
|
Vanguard Marketing Corporation |
7.83% |
Vanguard Information Technology ETF |
Charles Schwab & Co., Inc. |
10.81% |
|
Merrill Lynch, Pierce, Fenner & Smith Incorporated |
19.30% |
|
National Financial Services LLC |
8.75% |
|
TD Ameritrade Clearing, Inc. |
5.02% |
|
Vanguard Marketing Corporation |
14.94% |
Vanguard Materials ETF |
Ameriprise Advisor Services, Inc. |
5.84% |
|
Charles Schwab & Co., Inc. |
10.52% |
|
Merrill Lynch, Pierce, Fenner & Smith Incorporated |
20.73% |
|
National Financial Services LLC |
8.72% |
|
Pershing LLC |
5.19% |
|
TD Ameritrade Clearing, Inc. |
10.55% |
|
Vanguard Marketing Corporation |
14.00% |
Vanguard Mega Cap ETF |
Charles Schwab & Co., Inc. |
15.16% |
|
Merrill Lynch, Pierce, Fenner & Smith Incorporated |
8.52% |
|
National Financial Services LLC |
14.05% |
|
TD Ameritrade Clearing, Inc. |
11.31% |
|
Vanguard Marketing Corporation |
11.08% |
Vanguard Mega Cap Growth ETF |
Charles Schwab & Co., Inc. |
11.46% |
|
Merrill Lynch, Pierce, Fenner & Smith Incorporated |
7.15% |
|
National Financial Services LLC |
20.78% |
|
Pershing LLC |
7.02% |
|
TD Ameritrade Clearing, Inc. |
9.42% |
|
Vanguard Marketing Corporation |
14.54% |
Vanguard Mega Cap Value ETF |
Charles Schwab & Co., Inc. |
11.11% |
|
Merrill Lynch, Pierce, Fenner & Smith Incorporated |
11.56% |
|
Morgan Stanley DW Inc. |
5.87% |
|
National Financial Services LLC |
29.07% |
|
TD Ameritrade Clearing, Inc. |
5.11% |
|
Vanguard Marketing Corporation |
5.87% |
Vanguard Utilities ETF |
Charles Schwab & Co., Inc. |
15.20% |
|
National Financial Services LLC |
14.17% |
|
Pershing LLC |
5.51% |
|
TD Ameritrade Clearing, Inc. |
10.63% |
|
Vanguard Marketing Corporation |
23.03% |
Vanguard Fund |
Owner |
Percentage
of Ownership |
Vanguard ESG International Stock ETF |
Vanguard Marketing Corporation |
46.21% |
Vanguard Fund |
Owner |
Percentage
of Ownership |
Vanguard ESG U.S. Corporate Bond ETF |
Vanguard Marketing Corporation |
74.01% |
Vanguard ESG U.S. Stock ETF |
Vanguard Marketing Corporation |
33.54% |
Vanguard Industrials Index Fund |
Merrill Lynch, Pierce, Fenner & Smith Incorporated |
28.19% |
Vanguard Mega Cap Value Index Fund |
National Financial Services LLC |
28.30% |
Portfolio Manager |
|
No. of
accounts |
Total assets |
No. of accounts with
performance-based
fees |
Total assets in
accounts with
performance-based
fees |
Gary Robinson |
Registered investment companies1 |
4 |
$ 55B |
1
|
$ 55B |
|
Other pooled investment vehicles |
8 |
$ 14.7B |
0
|
$ 0 |
|
Other accounts |
15 |
$ 4B |
0 |
$ 0 |
Tom Slater |
Registered investment companies1 |
4 |
$ 56B |
1
|
$ 55B |
|
Other pooled investment vehicles |
9 |
$ 53B |
0
|
$ 0 |
|
Other accounts |
104 |
$ 66B |
4 |
$ 2.3B |
Portfolio Manager |
|
No. of
accounts |
Total assets |
No. of accounts with
performance-based
fees |
Total assets in
accounts with
performance-based
fees |
Kathleen A. McCarragher |
Registered investment companies1
|
21
|
$130B |
1 |
$55B |
|
Other pooled investment vehicles |
8
|
$10.6B |
0 |
$0 |
|
Other accounts |
6 |
$1.2B |
0 |
$0 |
Blair A. Boyer |
Registered investment companies1
|
16
|
$127B |
1 |
$55B |
|
Other pooled investment vehicles |
8
|
$10B |
0 |
$0 |
|
Other accounts |
27 |
$9.8B |
0 |
$0 |
Portfolio Manager |
|
No. of
accounts |
Total assets |
No. of accounts with
performance-based
fees |
Total assets in
accounts with
performance-based
fees |
Andrew J. Shilling |
Registered investment companies1
|
5 |
$59B |
2 |
$56B |
|
Other pooled investment vehicles |
5 |
$4B |
0 |
$0 |
|
Other accounts |
23 |
$6.4B |
0 |
$0 |
Portfolio Manager |
|
No. of
accounts |
Total assets |
No. of accounts with
performance-based
fees |
Total assets in
accounts with
performance-based
fees |
Cesar Orosco2
|
Registered investment companies1
|
7
|
$105B |
0 |
$0 |
|
Other pooled investment vehicles |
0
|
$0 |
0 |
$0 |
|
Other accounts |
0 |
$0 |
0 |
$0 |
Portfolio Manager |
|
No. of
accounts |
Total assets |
No. of accounts with
performance-based
fees |
Total assets in
accounts with
performance-based
fees |
James K. Anderson |
Registered investment companies1
|
6 |
$83B |
2 |
$77B |
|
Other pooled investment vehicles |
7 |
$32B |
1 |
$266M |
|
Other accounts |
38 |
$21.9B |
0 |
$0 |
Lawrence Burns2
|
Registered investment companies1
|
6 |
$83B |
2 |
$77B |
|
Other pooled investment vehicles |
7 |
$32B |
1 |
$266M |
|
Other accounts |
38 |
$21.9B |
0 |
$0 |
Thomas Coutts |
Registered investment companies1
|
4 |
$83B |
2 |
$77B |
|
Other pooled investment vehicles |
5 |
$2.1B |
1 |
$266M |
|
Other accounts |
36 |
$21.6B |
0 |
$0 |
Portfolio Manager |
|
No. of
accounts |
Total assets |
No. of accounts with
performance-based
fees |
Total assets in
accounts with
performance-based
fees |
James Gautrey2
|
Registered investment companies1
|
5 |
$80B |
1 |
$74B |
|
Other pooled investment vehicles |
3 |
$1.1B |
0 |
$0 |
|
Other accounts |
13 |
$ 4.8B |
0 |
$0 |
Simon Webber |
Registered investment companies1
|
6 |
$80B |
1 |
$74B |
|
Other pooled investment vehicles |
4 |
$ 6.1B |
0 |
$0 |
|
Other accounts |
16 |
$ 7.1B |
1 |
$2.1B |
Vanguard Fund |
2019 |
2020 |
2021 |
Vanguard Extended Duration Treasury Index Fund |
$79,000 |
$89,000 |
$60,000 |
Vanguard FTSE Social Index Fund |
780,000 |
1,086,000 |
1,747,000 |
Vanguard Communication Services Index Fund |
236,000 |
337,000 |
547,000 |
Vanguard Consumer Discretionary Index Fund |
483,000 |
497,000 |
886,000 |
Vanguard Consumer Staples Index Fund |
771,000 |
907,000 |
965,000 |
Vanguard Energy Index Fund |
633,000 |
502,000 |
749,000 |
Vanguard Financials Index Fund |
1,209,000 |
1,075,000 |
1,384,000 |
Vanguard Health Care Index Fund |
1,523,000 |
1,688,000 |
2,167,000 |
Vanguard Industrials Index Fund |
563,000 |
499,000 |
715,000 |
Vanguard Information Technology Index Fund |
3,051,000 |
2,574,000 |
2,726,000 |
Vanguard Materials Index Fund |
397,000 |
332,000 |
551,000 |
Vanguard Utilities Index Fund |
647,000 |
826,000 |
891,000 |
Vanguard Mega Cap Index Fund |
265,000 |
372,000 |
557,000 |
Vanguard Mega Cap Value Index Fund |
356,000 |
416,000 |
593,000 |
Vanguard Mega Cap Growth Index Fund |
614,000 |
918,000 |
1,566,000 |
Vanguard ESG U.S. Stock ETF |
32,000 |
167,000 |
530,000 |
Vanguard ESG International Stock ETF |
23,000 |
110,000 |
276,000 |
Vanguard ESG U.S. Corporate Bond ETF |
— |
— |
2,000 |
Portfolio Manager |
|
No. of
accounts |
Total assets |
No. of accounts with
performance-based
fees |
Total assets in
accounts with
performance-based
fees |
Joshua Barrickman |
Registered investment companies1
|
24
|
$1.1T |
0 |
$0 |
|
Other pooled investment vehicles |
0 |
$0 |
0 |
$0 |
|
Other accounts |
0 |
$0 |
0 |
$0 |
Nick Birkett2
|
Registered investment companies3
|
10
|
$109B |
0 |
$0 |
|
Other pooled investment vehicles |
4 |
$12.3B |
0 |
$0 |
|
Other accounts |
0 |
$0 |
0 |
$0 |
William Coleman |
Registered investment companies4
|
54
|
$1.3T |
0 |
$0 |
|
Other pooled investment vehicles |
12 |
$53B |
0 |
$0 |
|
Other accounts |
0 |
$0 |
0 |
$0 |
Gerard O’Reilly |
Registered investment companies5
|
18
|
$2.2T |
0 |
$0 |
|
Other pooled investment vehicles |
1
|
$7.8B |
0 |
$0 |
|
Other accounts |
0 |
$0 |
0 |
$0 |
Christine D. Franquin |
Registered investment companies6
|
11
|
$703B |
0 |
$0 |
|
Other pooled investment vehicles |
0
|
$0 |
0 |
$0 |
|
Other accounts |
0 |
$0 |
0 |
$0 |
Scott E. Geiger |
Registered investment companies6
|
3
|
$40B |
0 |
$0 |
|
Other pooled investment vehicles |
0 |
$0 |
0 |
$0 |
|
Other accounts |
0 |
$0 |
0 |
$0 |
Awais Khan |
Registered investment companies7
|
13
|
$270B |
0 |
$0 |
|
Other pooled investment vehicles |
0 |
$0 |
0 |
$0 |
|
Other accounts |
0 |
$0 |
0 |
$0 |
Michelle Louie8
|
Registered investment companies9
|
13
|
$1.2T |
0 |
$0 |
|
Other pooled investment vehicles |
0 |
$0 |
0 |
$0 |
|
Other accounts |
0 |
$0 |
0 |
$0 |
Walter Nejman10
|
Registered investment companies11
|
56
|
$2.8T |
0 |
$0 |
|
Other pooled investment vehicles |
17
|
$73B |
0 |
$0 |
|
Other accounts |
0 |
$0 |
0 |
$0 |
Cesar Orosco12
|
Registered investment companies13
|
7
|
$105B |
0 |
$0 |
|
Other pooled investment vehicles |
0
|
$0 |
0 |
$0 |
|
Other accounts |
0 |
$0 |
0 |
$0 |
Portfolio Manager |
|
No. of
accounts |
Total assets |
No. of accounts with
performance-based
fees |
Total assets in
accounts with
performance-based
fees |
Nataliya Kofman |
Registered investment companies1
|
4 |
$20B |
1 |
$1.8B |
|
Other pooled investment vehicles |
3 |
$368M |
1 |
$55M |
|
Other accounts |
7 |
$1.4B |
0 |
$0 |
Loren Moran |
Registered investment companies1
|
10 |
$94B |
5 |
$88B |
|
Other pooled investment vehicles |
2 |
$134M |
1 |
$29.7M |
|
Other accounts |
1 |
$674M |
0 |
$0 |
Portfolio Manager |
|
No. of
accounts |
Total assets |
No. of accounts with
performance-based
fees |
Total assets in
accounts with
performance-based
fees |
Andre J. Desautels |
Registered investment companies1
|
4 |
$787M |
1 |
$579M |
|
Other pooled investment vehicles |
5 |
$127M |
1 |
$6.3M |
|
Other accounts |
11 |
$3.6B |
0 |
$0 |
Loren Moran |
Registered investment companies1
|
10 |
$93B |
5 |
$87B |
|
Other pooled investment vehicles |
2 |
$134M |
1 |
$29.7M |
|
Other accounts |
1 |
$674M |
0 |
$0 |
Vanguard Fund |
Securities Lending Activities |
Vanguard Communication Services Index Fund |
|
Gross income from securities lending activities |
$517,891 |
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 |
$785 |
Administrative fees not included in revenue split |
$13,064 |
Indemnification fee not included in revenue split |
$0 |
Rebate (paid to borrower) |
$0 |
Other fees not included in revenue split (specify) |
$0 |
Aggregate fees/compensation for securities lending activities |
$13,849 |
Net income from securities lending activities |
$504,042 |
Vanguard Consumer Discretionary Index Fund |
|
Gross income from securities lending activities |
$864,554 |
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 |
$1,109 |
Administrative fees not included in revenue split |
$22,319 |
Indemnification fee not included in revenue split |
$0 |
Rebate (paid to borrower) |
$290 |
Other fees not included in revenue split (specify) |
$0 |
Aggregate fees/compensation for securities lending activities |
$23,718 |
Net income from securities lending activities |
$840,836 |
Vanguard Consumer Staples Index Fund |
|
Gross income from securities lending activities |
$242,690 |
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 |
$512 |
Administrative fees not included in revenue split |
$8,355 |
Indemnification fee not included in revenue split |
$0 |
Rebate (paid to borrower) |
$0 |
Other fees not included in revenue split (specify) |
$0 |
Aggregate fees/compensation for securities lending activities |
$8,867 |
Net income from securities lending activities |
$233,823 |
Vanguard Energy Index Fund |
|
Gross income from securities lending activities |
$392,975 |
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 |
$488 |
Administrative fees not included in revenue split |
$9,576 |
Indemnification fee not included in revenue split |
$0 |
Rebate (paid to borrower) |
$0 |
Other fees not included in revenue split (specify) |
$0 |
Aggregate fees/compensation for securities lending activities |
$10,064 |
Net income from securities lending activities |
$382,911 |
Vanguard Fund |
Securities Lending Activities |
Vanguard ESG International Stock ETF |
|
Gross income from securities lending activities |
$208,352 |
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 |
$415 |
Administrative fees not included in revenue split |
$6,258 |
Indemnification fee not included in revenue split |
$0 |
Rebate (paid to borrower) |
$972 |
Other fees not included in revenue split (specify) |
$0 |
Aggregate fees/compensation for securities lending activities |
$7,645 |
Net income from securities lending activities |
$200,707 |
Vanguard ESG U.S. Stock ETF |
|
Gross income from securities lending activities |
$74,146 |
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 |
$49 |
Administrative fees not included in revenue split |
$2,534 |
Indemnification fee not included in revenue split |
$0 |
Rebate (paid to borrower) |
$9 |
Other fees not included in revenue split (specify) |
$0 |
Aggregate fees/compensation for securities lending activities |
$2,592 |
Net income from securities lending activities |
$71,554 |
Vanguard Financials Index Fund |
|
Gross income from securities lending activities |
$432,212 |
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 |
$435 |
Administrative fees not included in revenue split |
$10,291 |
Indemnification fee not included in revenue split |
$0 |
Rebate (paid to borrower) |
$0 |
Other fees not included in revenue split (specify) |
$0 |
Aggregate fees/compensation for securities lending activities |
$10,726 |
Net income from securities lending activities |
$421,486 |
Vanguard FTSE Social Index Fund |
|
Gross income from securities lending activities |
$104,485 |
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 |
$239 |
Administrative fees not included in revenue split |
$3,212 |
Indemnification fee not included in revenue split |
$0 |
Rebate (paid to borrower) |
$42 |
Other fees not included in revenue split (specify) |
$0 |
Aggregate fees/compensation for securities lending activities |
$3,493 |
Net income from securities lending activities |
$100,992 |
Vanguard Fund |
Securities Lending Activities |
Vanguard Global Wellesley Income Fund |
|
Gross income from securities lending activities |
$8,753 |
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 |
$49 |
Administrative fees not included in revenue split |
$288 |
Indemnification fee not included in revenue split |
$0 |
Rebate (paid to borrower) |
$0 |
Other fees not included in revenue split (specify) |
$0 |
Aggregate fees/compensation for securities lending activities |
$337 |
Net income from securities lending activities |
$8,416 |
Vanguard Global Wellington Fund |
|
Gross income from securities lending activities |
$31,236 |
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 |
$406 |
Administrative fees not included in revenue split |
$1,245 |
Indemnification fee not included in revenue split |
$0 |
Rebate (paid to borrower) |
$0 |
Other fees not included in revenue split (specify) |
$0 |
Aggregate fees/compensation for securities lending activities |
$1,651 |
Net income from securities lending activities |
$29,585 |
Vanguard Health Care Index Fund |
|
Gross income from securities lending activities |
$2,080,759 |
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 |
$2,063 |
Administrative fees not included in revenue split |
$57,601 |
Indemnification fee not included in revenue split |
$0 |
Rebate (paid to borrower) |
$10 |
Other fees not included in revenue split (specify) |
$0 |
Aggregate fees/compensation for securities lending activities |
$59,674 |
Net income from securities lending activities |
$2,021,085 |
Vanguard Industrials Index Fund |
|
Gross income from securities lending activities |
$277,137 |
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 |
$468 |
Administrative fees not included in revenue split |
$6,859 |
Indemnification fee not included in revenue split |
$0 |
Rebate (paid to borrower) |
$0 |
Other fees not included in revenue split (specify) |
$0 |
Aggregate fees/compensation for securities lending activities |
$7,327 |
Net income from securities lending activities |
$269,810 |
Vanguard Fund |
Securities Lending Activities |
Vanguard Information Technology Index Fund |
|
Gross income from securities lending activities |
$1,266,408 |
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 |
$3,526 |
Administrative fees not included in revenue split |
$34,798 |
Indemnification fee not included in revenue split |
$0 |
Rebate (paid to borrower) |
$271 |
Other fees not included in revenue split (specify) |
$0 |
Aggregate fees/compensation for securities lending activities |
$38,595 |
Net income from securities lending activities |
$1,227,813 |
Vanguard International Growth Fund |
|
Gross income from securities lending activities |
$22,008,969 |
Fees paid to securities lending agent from a revenue split |
$148,242 |
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 |
$18,985 |
Administrative fees not included in revenue split |
$602,415 |
Indemnification fee not included in revenue split |
$0 |
Rebate (paid to borrower) |
$7,602 |
Other fees not included in revenue split (specify) |
$0 |
Aggregate fees/compensation for securities lending activities |
$777,244 |
Net income from securities lending activities |
$21,231,725 |
Vanguard Materials Index Fund |
|
Gross income from securities lending activities |
$494,770 |
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 |
$365 |
Administrative fees not included in revenue split |
$20,838 |
Indemnification fee not included in revenue split |
$0 |
Rebate (paid to borrower) |
$322 |
Other fees not included in revenue split (specify) |
$0 |
Aggregate fees/compensation for securities lending activities |
$21,525 |
Net income from securities lending activities |
$473,245 |
Vanguard Mega Cap Growth Index Fund |
|
Gross income from securities lending activities |
$46,262 |
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 |
$275 |
Administrative fees not included in revenue split |
$1,459 |
Indemnification fee not included in revenue split |
$0 |
Rebate (paid to borrower) |
$0 |
Other fees not included in revenue split (specify) |
$0 |
Aggregate fees/compensation for securities lending activities |
$1,734 |
Net income from securities lending activities |
$44,528 |
Vanguard Fund |
Securities Lending Activities |
Vanguard Mega Cap Index Fund |
|
Gross income from securities lending activities |
$37,080 |
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 |
$70 |
Administrative fees not included in revenue split |
$1,391 |
Indemnification fee not included in revenue split |
$0 |
Rebate (paid to borrower) |
$14 |
Other fees not included in revenue split (specify) |
$0 |
Aggregate fees/compensation for securities lending activities |
$1,475 |
Net income from securities lending activities |
$35,605 |
Vanguard Mega Cap Value Index Fund |
|
Gross income from securities lending activities |
$63,634 |
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 |
$26 |
Administrative fees not included in revenue split |
$2,661 |
Indemnification fee not included in revenue split |
$0 |
Rebate (paid to borrower) |
$23 |
Other fees not included in revenue split (specify) |
$0 |
Aggregate fees/compensation for securities lending activities |
$2,710 |
Net income from securities lending activities |
$60,924 |
Vanguard U.S. Growth Fund |
|
Gross income from securities lending activities |
$11,184,122 |
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 |
$16,342 |
Administrative fees not included in revenue split |
$278,895 |
Indemnification fee not included in revenue split |
$0 |
Rebate (paid to borrower) |
$635 |
Other fees not included in revenue split (specify) |
$0 |
Aggregate fees/compensation for securities lending activities |
$295,872 |
Net income from securities lending activities |
$10,888,250 |
Vanguard Utilities Index Fund |
|
Gross income from securities lending activities |
$3,887 |
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 |
$40 |
Administrative fees not included in revenue split |
$87 |
Indemnification fee not included in revenue split |
$0 |
Rebate (paid to borrower) |
$0 |
Other fees not included in revenue split (specify) |
$0 |
Aggregate fees/compensation for securities lending activities |
$127 |
Net income from securities lending activities |
$3,760 |
Vanguard Fund |
2019 |
2020 |
2021 |
Vanguard Communication Services Index Fund1
|
$177,000 |
$52,000 |
$38,000 |
Vanguard Consumer Discretionary Index Fund2
|
51,000 |
45,000 |
29,000 |
Vanguard Consumer Staples Index Fund |
45,000 |
27,000 |
22,000 |
Vanguard Energy Index Fund |
91,000 |
153,000 |
104,000 |
Vanguard ESG International Stock ETF |
61,000 |
69,000 |
149,000 |
Vanguard ESG U.S. Corporate Bond ETF |
— |
— |
Less than 1,000 |
Vanguard ESG U.S. Stock ETF |
11,000 |
6,000 |
26,000 |
Vanguard Extended Duration Treasury Index Fund |
Less than 1,000 |
Less than 1,000 |
— |
Vanguard Financials Index Fund |
87,000 |
47,000 |
43,000 |
Vanguard FTSE Social Index Fund |
97,000 |
154,000 |
109,000 |
Vanguard Global Wellesley Income Fund3
|
339,000 |
43,000 |
27,000 |
Vanguard Global Wellington Fund |
196,000 |
154,000 |
123,000 |
Vanguard Fund |
2019 |
2020 |
2021 |
Vanguard Health Care Index Fund |
117,000 |
120,000 |
119,000 |
Vanguard Industrials Index Fund |
14,000 |
14,000 |
23,000 |
Vanguard Information Technology Index Fund4
|
181,000 |
254,000 |
175,000 |
Vanguard International Growth Fund |
4,944,000 |
7,183,000 |
14,325,000 |
Vanguard Materials Index Fund |
55,000 |
17,000 |
30,000 |
Vanguard Mega Cap Growth Index Fund |
27,000 |
18,000 |
34,000 |
Vanguard Mega Cap Index Fund |
6,000 |
6,000 |
10,000 |
Vanguard Mega Cap Value Index Fund |
18,000 |
16,000 |
25,000 |
Vanguard U.S. Growth Fund5
|
2,922,000 |
5,235,000 |
6,089,000 |
Vanguard Utilities Index Fund |
52,000 |
36,000 |
52,000 |
Vanguard Fund |
Regular Broker or Dealer (or Parent) |
Aggregate Holdings |
Vanguard Communication Services Index Fund |
— |
— |
Vanguard Consumer Discretionary Index Fund |
— |
— |
Vanguard Consumer Staples Index Fund |
— |
— |
Vanguard Energy Index Fund |
— |
— |
Vanguard ESG International Stock ETF |
CITIC Securities International USA, LLC |
$543,000 |
|
Credit Suisse Securities (USA) LLC |
2,491,000 |
|
UBS Securities LLC |
5,810,000 |
Vanguard Fund |
Regular Broker or Dealer (or Parent) |
Aggregate Holdings |
Vanguard ESG U.S. Corporate Bond ETF |
Banc of America Securities LLC |
10,547,000 |
|
Barclays Capital, Inc. |
1,775,000 |
|
Citigroup Global Markets Inc. |
5,737,000 |
|
Credit Suisse Securities (USA) LLC |
1,119,000 |
|
Deutsche Bank Fixed Income Securities |
953,000 |
|
Goldman Sachs & Co. LLC |
6,408,000 |
|
J.P. Morgan Securities LLC |
9,451,000 |
|
Morgan Stanley & Co. LLC |
6,503,000 |
Vanguard ESG U.S. Stock ETF |
Citigroup Global Markets Inc. |
20,167,000 |
|
Goldman Sachs & Co. LLC |
18,503,000 |
|
J.P. Morgan Securities LLC |
65,170,000 |
|
Morgan Stanley & Co. LLC |
19,676,000 |
Vanguard Extended Duration Treasury Index Fund |
— |
— |
Vanguard Financials Index Fund |
Banc of America Securities LLC |
727,400,000 |
|
Citigroup Global Markets Inc. |
335,795,000 |
|
Goldman, Sachs & Co. |
317,397,000 |
|
J.P. Morgan Securities Inc. |
1,093,809,000 |
|
Jefferies & Company, Inc. |
17,476,000 |
|
Morgan Stanley |
329,210,000 |
Vanguard FTSE Social Index Fund |
Banc of America Securities LLC |
138,849,000 |
|
Citigroup Global Markets Inc. |
65,546,000 |
|
Goldman, Sachs & Co. |
60,160,000 |
|
J.P. Morgan Securities Inc. |
212,098,000 |
|
Morgan Stanley |
63,917,000 |
Vanguard Global Wellesley Income Fund |
Citigroup Global Markets Inc. |
1,214,000 |
|
Goldman Sachs & Co. LLC |
4,414,000 |
|
J.P. Morgan Securities LLC |
1,860,000 |
|
Morgan Stanley & Co. LLC |
3,261,000 |
|
UBS Securities LLC |
6,331,000 |
Vanguard Global Wellington Fund |
Credit Suisse Securities (USA) LLC |
4,711,000 |
|
Goldman Sachs & Co. LLC |
5,150,000 |
|
J.P. Morgan Securities LLC |
22,448,000 |
|
Merrill Lynch, Pierce, Fenner & Smith Inc. |
39,357,000 |
|
Morgan Stanley & Co. LLC |
3,869,000 |
|
UBS Securities LLC |
3,383,000 |
Vanguard Health Care Index Fund |
— |
— |
Vanguard Industrials Index Fund |
— |
— |
Vanguard Information Technology Index Fund |
— |
— |
Vanguard International Growth Fund |
— |
— |
Vanguard Materials Index Fund |
— |
— |
Vanguard Mega Cap Growth Index Fund |
— |
— |
Vanguard Mega Cap Index Fund |
Banc of America Securities LLC |
43,482,000 |
|
Citigroup Global Markets Inc. |
20,311,000 |
|
Goldman, Sachs & Co. |
19,048,000 |
|
J.P. Morgan Securities Inc. |
65,768,000 |
|
Morgan Stanley |
21,138,000 |
|
Wells Fargo Securities, LLC |
564,560,000 |
Vanguard Mega Cap Value Index Fund |
Citigroup Global Markets Inc. |
50,701,000 |
|
Goldman, Sachs & Co. |
47,926,000 |
|
J.P. Morgan Securities Inc. |
165,132,000 |
|
Morgan Stanley |
53,024,000 |
|
Wells Fargo Securities, LLC |
64,428,000 |
Vanguard U.S. Growth Fund |
Goldman, Sachs & Co. |
47,526,000 |
Vanguard Utilities Index Fund |
— |
— |
Country |
JAN |
FEB |
MAR |
APR |
MAY |
JUN |
JUL |
AUG |
SEP |
OCT |
NOV |
DEC |
Albania |
1 |
|
15, 22 |
5 |
3, 13 |
|
20 |
|
6 |
|
29 |
8, 27 |
Argentina |
1 |
15, 16 |
24 |
1, 2 |
24, 25 |
21 |
9 |
16 |
|
8, 11 |
22 |
8 |
Australia |
1, 26 |
|
1, 8 |
2, 5, 6,
25, 26 |
3, 31 |
7, 14 |
|
2, 11 |
27 |
4, 23 |
2 |
24, 27,
28, 31 |
Austria |
1, 6 |
|
|
2, 5 |
13, 24 |
3 |
|
|
|
26 |
1 |
8, 24,
31 |
Bahrain** |
1 |
|
|
|
|
|
|
|
|
|
|
|
Bangladesh** |
|
21 |
17, 29 |
14 |
10, 13,
26 |
|
1,
20-22 |
15, 19,
30 |
|
19 |
|
16 |
Belgium |
1 |
|
|
2, 5 |
13, 14 |
|
21 |
|
|
|
1, 11 |
24, 31 |
Benin |
1 |
|
|
5 |
10, 13,
24 |
|
20 |
|
|
19 |
1, 15 |
|
Bermuda |
1 |
|
|
2 |
28 |
21 |
29, 30 |
|
6 |
|
11 |
27, 28 |
Bosnia and
Herzegovina, Fed. of |
1 |
|
|
|
|
|
|
|
|
|
|
|
Botswana |
1 |
|
|
2, 5 |
13 |
|
1, 19,
20 |
|
30 |
1 |
|
27 |
Brazil |
1, 25 |
15-17 |
|
2, 21 |
|
3 |
9 |
|
7 |
12 |
2, 15 |
|
Bulgaria |
1 |
|
3 |
2, 5,
30 |
3, 4, 6,
24 |
|
|
|
6, 22 |
|
|
24, 27,
28 |
Burkina Faso |
1 |
|
|
5 |
10, 13,
24 |
|
20 |
|
|
19 |
1, 15 |
|
Canada |
1, 4 |
15 |
|
2 |
24 |
24 |
1 |
2 |
6 |
11 |
11 |
24, 27,
28 |
China |
1 |
11, 12,
15-17 |
|
5 |
3-5 |
14 |
|
|
20, 21 |
1, 4-7 |
|
|
China Connect - Bond
Connect |
1 |
11, 12,
15-17 |
|
5 |
3-5 |
14 |
|
|
20, 21 |
1, 4-7 |
|
|
China Connect - Stock
Connect |
1 |
11, 12,
15-17 |
|
1, 2, 5,
6 |
3-5,
18, 19 |
14, 30 |
1 |
|
17,
20-22 |
1, 4-7,
13, 14 |
|
24, 27 |
Colombia |
1, 11 |
|
22 |
1, 2 |
17 |
7, 14 |
5, 20 |
16 |
|
18 |
1, 15 |
8, 24,
31 |
Costa Rica |
1 |
|
|
1, 2 |
3 |
|
26 |
2 |
13 |
|
29 |
|
Croatia |
1, 6 |
|
|
2, 5 |
|
3, 22 |
|
5 |
|
|
1, 18 |
24, 31 |
Cyprus |
1, 6 |
|
15, 25 |
1, 2, 5,
30 |
3, 4 |
21 |
|
|
|
1, 28 |
|
24 |
Czech Republic |
1 |
|
|
2, 5 |
|
|
5, 6 |
|
28 |
28 |
17 |
24, 31 |
Denmark |
1 |
|
|
1, 2, 5,
30 |
13, 14,
24 |
|
|
|
|
|
|
24, 31 |
Egypt** |
7, 25 |
|
|
25 |
2, 3,
12, 13 |
30 |
1,
19-22 |
9 |
|
6, 18 |
|
|
Estonia |
1 |
24 |
|
2, 5 |
13 |
23, 24 |
|
20 |
|
|
|
24, 31 |
Eswatini |
1 |
|
|
2, 5,
19, 26 |
13 |
|
22 |
|
6 |
|
|
|
Finland |
1, 6 |
|
|
2, 5 |
13 |
25 |
|
|
|
|
|
6, 24,
31 |
Country |
JAN |
FEB |
MAR |
APR |
MAY |
JUN |
JUL |
AUG |
SEP |
OCT |
NOV |
DEC |
France |
1 |
|
|
2, 5 |
|
|
|
|
|
|
|
24, 31 |
Georgia, Republic of |
1, 4, 7,
19 |
|
3, 8 |
9, 30 |
3, 10,
12, 26 |
|
|
30 |
|
14 |
23 |
|
Germany |
1 |
|
|
|
|
|
|
|
|
|
|
|
Ghana |
1, 7 |
|
8 |
2, 5 |
3, 13 |
|
20 |
4 |
21 |
|
|
3,
27-28 |
Greece |
1, 6 |
|
15, 25 |
2, 5,
30 |
3 |
21 |
|
|
|
28 |
|
24 |
Guinea-Bissau |
1 |
|
|
5 |
10, 13,
24 |
|
20 |
|
|
19 |
1, 15 |
|
Hong Kong |
1 |
11, 12,
15 |
|
2, 5, 6 |
19 |
14 |
1 |
|
22 |
1, 14 |
|
24, 27,
31 |
Hungary |
1 |
|
15 |
2, 5 |
24 |
|
|
20 |
|
|
1 |
24, 31 |
Iceland |
1 |
|
|
1, 2, 5,
22 |
13, 24 |
17 |
|
2 |
|
|
|
24, 31 |
India |
26 |
19 |
11, 29 |
1, 2,
13, 14,
21 |
13, 26 |
|
21 |
16, 19 |
10 |
15, 19 |
4, 5,
19 |
|
Indonesia |
1 |
12 |
11, 12 |
2 |
12-14,
17-19,
26 |
1 |
20 |
10, 17 |
|
19 |
|
24, 27,
31 |
Ireland |
1 |
|
17 |
2, 5 |
3 |
7 |
|
2 |
|
25 |
|
24, 27,
28, 31 |
Israel** |
|
|
28,
29-31 |
1, 2,
14, 15 |
16, 17 |
|
18 |
|
6, 7, 8,
15, 16,
20, 21,
22, 23,
26, 27,
28 |
|
|
|
Italy |
1 |
|
|
2, 5 |
|
|
|
|
|
|
|
24, 31 |
Ivory Coast |
1 |
|
|
5 |
10, 13,
24 |
|
20 |
|
|
19 |
1, 15 |
|
Japan |
1, 11 |
11, 23 |
|
29 |
3-5 |
|
22, 23 |
9 |
20, 23 |
|
3, 23 |
31 |
Jordan** |
1 |
|
|
|
12, 13,
25 |
|
19-22 |
9 |
|
18 |
|
|
Kazakhstan |
1, 4, 7 |
|
8,
22-24 |
|
3, 7,
10 |
|
6, 21 |
30 |
|
|
|
1, 16,
17 |
Kenya |
1 |
|
|
2, 5 |
|
1 |
|
|
|
11, 20 |
|
13, 27 |
Korea, Republic of |
1 |
11, 12 |
1 |
|
5, 19 |
|
|
|
20-22 |
|
|
|
Kuwait** |
3 |
|
|
|
|
|
|
|
|
|
|
|
Latvia |
1 |
|
|
2, 5 |
3, 4,
13 |
23-25 |
|
|
|
|
18, 19 |
24, 31 |
Lithuania |
1 |
16 |
11 |
2, 5 |
13 |
24 |
6 |
|
|
|
1, 2 |
24, 31 |
Luxembourg |
1 |
|
|
2, 5 |
|
|
|
|
|
|
|
24, 31 |
Malawi |
1, 15 |
|
3 |
2, 5 |
3, 13,
14 |
|
6 |
|
|
15 |
|
27 |
Malaysia |
1, 28 |
1, 11,
12 |
|
29 |
12-14,
26, 31 |
7 |
20 |
10, 31 |
16 |
19 |
4 |
|
Mali |
1 |
|
|
5 |
10, 13,
24 |
|
20 |
|
|
19 |
1, 15 |
|
Mauritius |
1, 28 |
1, 12 |
11, 12 |
13 |
14 |
|
|
|
|
|
1, 2, 4 |
|
Mexico |
1 |
1 |
15 |
1, 2 |
|
|
|
|
16 |
|
2, 15 |
|
Morocco |
1, 11 |
|
|
|
14 |
|
21, 30 |
20 |
|
20 |
18 |
|
Namibia |
1 |
|
22 |
2, 5,
27 |
4, 13,
25 |
16 |
|
9, 26 |
24 |
|
|
10, 16,
27 |
Netherlands |
1 |
|
|
2, 5 |
|
|
|
|
|
|
|
24, 31 |
New Zealand |
1, 4 |
8 |
|
2, 5,
26 |
|
7 |
|
|
|
25 |
|
27, 28 |
Country |
JAN |
FEB |
MAR |
APR |
MAY |
JUN |
JUL |
AUG |
SEP |
OCT |
NOV |
DEC |
Niger |
1 |
|
|
5 |
10, 13,
24 |
|
20 |
|
|
19 |
1, 15 |
|
Nigeria |
1 |
|
|
2, 5 |
13, 14 |
|
20, 21 |
|
|
1, 18 |
|
27 |
Norway |
1 |
|
31 |
1, 2, 5 |
13, 17,
24 |
|
|
|
|
|
|
24, 31 |
Pakistan |
1 |
5 |
23 |
12 |
13, 14 |
|
1, 20,
21 |
18, 19 |
|
19 |
|
|
Panama |
1 |
15-17 |
|
2 |
|
|
|
|
|
|
3-5,
10, 29 |
8 |
Peru |
1 |
|
31 |
2 |
|
29 |
28, 29 |
30 |
|
8 |
1 |
8 |
Philippines |
1 |
12, 25 |
|
1, 2, 9 |
|
|
|
30 |
|
|
1, 2,
30 |
8, 24,
30, 31 |
Poland |
1, 6 |
|
|
2, 5 |
3 |
3 |
|
|
|
|
1, 11 |
24, 31 |
Portugal |
1 |
|
|
2, 5 |
|
|
|
|
|
|
|
24, 31 |
Qatar** |
|
9 |
7 |
|
13 |
|
20-22 |
|
|
|
|
|
Romania |
1 |
|
|
30 |
3 |
1, 21 |
|
|
|
|
30 |
1 |
Russia |
1, 4-8,
7 |
22-23 |
8 |
|
3, 10 |
14 |
|
|
|
|
4-5 |
31 |
Saudi Arabia** |
|
|
|
|
12-13 |
|
19-22 |
|
23 |
|
|
|
Senegal |
1 |
|
|
5 |
10, 13,
24 |
|
20 |
|
|
19 |
1, 15 |
|
Serbia |
1, 7, 8 |
|
|
|
|
|
|
|
|
|
|
|
Singapore |
1 |
11, 12 |
|
2 |
13, 26 |
|
20 |
9 |
|
|
4 |
24, 31 |
Slovak Republic |
1, 6 |
|
|
|
|
|
|
|
|
|
|
|
Slovenia |
1 |
8 |
|
2, 5,
27 |
|
25 |
|
|
|
|
1 |
24, 31 |
South Africa |
1 |
|
22 |
2, 5,
27 |
|
16 |
|
9 |
24 |
|
|
16, 27 |
Spain |
1 |
|
|
2, 5 |
|
|
|
|
|
|
|
24, 31 |
Sri Lanka |
1, 14,
28 |
4, 26 |
11 |
2, 13,
14, 26,
30 |
14, 26,
27 |
24 |
21, 23 |
|
20 |
19, 20 |
4, 18 |
24 |
Srpska, Republic of |
1, 6, 7 |
|
|
|
|
|
|
|
|
|
|
|
Sweden |
1, 5, 6 |
|
|
1, 2, 5,
30 |
12, 13 |
25 |
|
|
|
|
5 |
24, 31 |
Switzerland |
1 |
|
|
2, 5 |
13, 24 |
|
|
|
|
|
|
24, 31 |
Taiwan |
1 |
10-12,
15, 16 |
1 |
2, 5,
30 |
|
14 |
|
|
20, 21 |
11 |
|
31 |
Thailand |
1 |
26 |
|
6,
13-15 |
3, 4,
26 |
3 |
26, 28 |
12 |
|
13, 25 |
|
6, 10,
31 |
Togo |
1 |
|
|
5 |
10, 13,
24 |
|
20 |
|
|
19 |
1, 15 |
|
Tunisia |
1, 14 |
|
|
9 |
11, 12,
13 |
|
20, 21 |
10, 13 |
|
15, 19 |
|
|
Turkey |
1 |
|
|
23 |
12, 13,
14, 19 |
|
15, 19,
20-23 |
30 |
|
28, 29 |
|
|
Uganda |
1, 26 |
16 |
8 |
2, 5 |
|
3, 9 |
|
|
|
|
|
|
Ukraine |
1, 7, 8 |
|
8 |
|
3, 4,
10 |
21, 28 |
|
23, 24 |
|
14 |
|
27 |
United Arab Emirates -
ADX** |
|
|
|
|
13 |
|
19-21 |
9 |
|
18 |
|
1, 2 |
United Arab Emirates -
DFM** |
|
|
|
|
13 |
|
19-21 |
9 |
|
18 |
|
1, 2 |
United Arab Emirates -
DIFC** |
|
|
|
|
13 |
|
19-21 |
9 |
|
18 |
|
1, 2 |
United Kingdom |
1 |
|
|
2, 5 |
3, 31 |
|
|
30 |
|
|
|
24, 27,
28, 31 |
Country |
JAN |
FEB |
MAR |
APR |
MAY |
JUN |
JUL |
AUG |
SEP |
OCT |
NOV |
DEC |
United States |
1, 18 |
15 |
|
2 |
31 |
|
5 |
|
6 |
11 |
11, 25,
26 |
24 |
Uruguay |
1, 6 |
15, 16 |
|
1, 2,
19 |
17 |
|
|
25 |
|
11 |
2 |
|
Vietnam |
1 |
10-12,
15, 16 |
|
21, 30 |
3 |
|
|
|
2, 3 |
|
|
|
Zambia |
1 |
|
8, 12 |
2, 5 |
25 |
|
5, 6 |
2 |
|
18, 25 |
|
|
Zimbabwe |
1 |
|
|
2, 5 |
25 |
|
|
9, 10 |
|
|
|
22 |
Argentina |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
No settlement cycles (˃=): T+7 |
Australia |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
No settlement cycles (˃=): T+7 |
Austria |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
No settlement cycles (˃=): T+7 |
Bahrain |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
07/18/2021 |
07/25/2021 |
T+7 |
07/19/2021 |
07/26/2021 |
T+7 |
Bangladesh |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
No settlement cycles (˃=): T+7 |
Belgium |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
No settlement cycles (˃=): T+7 |
Bermuda |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
No settlement cycles (˃=): T+7 |
Botswana |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
03/29/2021 |
04/06/2021 |
T+8 |
03/30/2021 |
04/07/2021 |
T+8 |
03/31/2021 |
04/08/2021 |
T+8 |
04/01/2021 |
04/09/2021 |
T+8 |
05/07/2021 |
05/14/2021 |
T+7 |
05/10/2021 |
05/17/2021 |
T+7 |
05/11/2021 |
05/18/2021 |
T+7 |
05/12/2021 |
05/19/2021 |
T+7 |
06/25/2021 |
07/02/2021 |
T+7 |
06/28/2021 |
07/05/2021 |
T+7 |
06/29/2021 |
07/06/2021 |
T+7 |
06/30/2021 |
07/07/2021 |
T+7 |
07/13/2021 |
07/21/2021 |
T+8 |
07/14/2021 |
07/22/2021 |
T+8 |
Botswana |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
07/15/2021 |
07/23/2021 |
T+8 |
07/16/2021 |
07/26/2021 |
T+10 |
09/24/2021 |
10/04/2021 |
T+10 |
09/27/2021 |
10/05/2021 |
T+8 |
09/28/2021 |
10/06/2021 |
T+8 |
09/29/2021 |
10/07/2021 |
T+8 |
12/21/2021 |
12/28/2021 |
T+7 |
12/22/2021 |
12/29/2021 |
T+7 |
12/23/2021 |
12/30/2021 |
T+7 |
12/24/2021 |
12/31/2021 |
T+7 |
Brazil |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
02/10/2021 |
02/17/2021 |
T+7 |
02/11/2021 |
02/18/2021 |
T+7 |
02/12/2021 |
02/19/2021 |
T+7 |
Bulgaria |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
04/28/2021 |
05/05/2021 |
T+7 |
04/29/2021 |
05/07/2021 |
T+8 |
12/22/2021 |
12/29/2021 |
T+7 |
12/23/2021 |
12/30/2021 |
T+7 |
Canada |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
No settlement cycles (˃=): T+7 |
Chile |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
No settlement cycles (˃=): T+7 |
China A-Share |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
No settlement cycles (˃=): T+7 |
China B-Share |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
02/08/2021 |
02/18/2021 |
T+10 |
02/09/2021 |
02/19/2021 |
T+10 |
02/10/2021 |
02/22/2021 |
T+12 |
04/28/2021 |
05/06/2021 |
T+8 |
04/29/2021 |
05/07/2021 |
T+8 |
04/30/2021 |
05/10/2021 |
T+10 |
09/15/2021 |
09/22/2021 |
T+7 |
09/16/2021 |
09/23/2021 |
T+7 |
09/17/2021 |
09/24/2021 |
T+7 |
09/28/2021 |
10/08/2021 |
T+10 |
09/29/2021 |
10/11/2021 |
T+12 |
09/30/2021 |
10/12/2021 |
T+12 |
China Connect |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
No settlement cycles (˃=): T+7 |
Colombia |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
03/29/2021 |
04/05/2021 |
T+7 |
03/30/2021 |
04/06/2021 |
T+7 |
03/31/2021 |
04/07/2021 |
T+7 |
Costa Rica |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
No settlement cycles (˃=): T+7 |
Croatia |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
No settlement cycles (˃=): T+7 |
Cyprus |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
03/30/2021 |
04/06/2021 |
T+7 |
03/31/2021 |
04/07/2021 |
T+7 |
04/28/2021 |
05/05/2021 |
T+7 |
04/29/2021 |
05/06/2021 |
T+7 |
Czech Republic |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
No settlement cycles (˃=): T+7 |
Denmark |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
03/30/2021 |
04/06/2021 |
T+7 |
03/31/2021 |
04/07/2021 |
T+7 |
Egypt |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
07/15/2021 |
07/25/2021 |
T+10 |
07/18/2021 |
07/26/2021 |
T+8 |
Estonia |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
No settlement cycles (˃=): T+7 |
Finland |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
No settlement cycles (˃=): T+7 |
France |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
No settlement cycles (˃=): T+7 |
Germany |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
No settlement cycles (˃=): T+7 |
Ghana |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
03/30/2021 |
04/06/2021 |
T+7 |
03/31/2021 |
04/07/2021 |
T+7 |
04/01/2021 |
04/08/2021 |
T+7 |
12/22/2021 |
12/29/2021 |
T+7 |
12/23/2021 |
12/30/2021 |
T+7 |
12/24/2021 |
12/31/2021 |
T+7 |
Greece |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
No settlement cycles (˃=): T+7 |
Hong Kong - Equity |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
02/09/2021 |
02/16/2021 |
T+7 |
02/10/2021 |
02/17/2021 |
T+7 |
03/31/2021 |
04/07/2021 |
T+7 |
04/01/2021 |
04/08/2021 |
T+7 |
Hong Kong - Corporate/Government Debt |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
02/08/2021 |
02/16/2021 |
T+8 |
02/09/2021 |
02/17/2021 |
T+8 |
02/10/2021 |
02/18/2021 |
T+8 |
03/30/2021 |
04/07/2021 |
T+8 |
03/31/2021 |
04/08/2021 |
T+8 |
04/01/2021 |
04/09/2021 |
T+8 |
12/21/2021 |
12/28/2021 |
T+7 |
12/22/2021 |
12/29/2021 |
T+7 |
12/23/2021 |
12/30/2021 |
T+7 |
Hungary |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
No settlement cycles (˃=): T+7 |
Iceland |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
03/30/2021 |
04/06/2021 |
T+7 |
03/31/2021 |
04/07/2021 |
T+7 |
India |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
No settlement cycles (˃=): T+7 |
Indonesia - Equity |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
05/10/2021 |
05/20/2021 |
T+10 |
05/11/2021 |
05/21/2021 |
T+10 |
Indonesia - Corporate/Government Debt |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
03/08/2021 |
03/15/2021 |
T+7 |
03/09/2021 |
03/16/2021 |
T+7 |
03/10/2021 |
03/17/2021 |
T+7 |
05/07/2021 |
05/20/2021 |
T+13 |
05/10/2021 |
05/21/2021 |
T+11 |
05/11/2021 |
05/24/2021 |
T+13 |
12/21/2021 |
12/28/2021 |
T+7 |
12/22/2021 |
12/29/2021 |
T+7 |
12/23/2021 |
12/30/2021 |
T+7 |
Ireland |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
No settlement cycles (˃=): T+7 |
Israel |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
03/24/2021 |
04/04/2021 |
T+11 |
03/25/2021 |
04/05/2021 |
T+11 |
09/02/2021 |
09/09/2021 |
T+7 |
09/05/2021 |
09/12/2021 |
T+7 |
09/14/2021 |
09/22/2021 |
T+8 |
Italy |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
No settlement cycles (˃=): T+7 |
Japan - Equity |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
04/28/2021 |
05/06/2021 |
T+8 |
04/30/2021 |
05/07/2021 |
T+7 |
Japan - Corporate/Government Debt |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
04/27/2021 |
05/06/2021 |
T+9 |
04/28/2021 |
05/07/2021 |
T+9 |
04/30/2021 |
05/10/2021 |
T+10 |
07/19/2021 |
07/26/2021 |
T+7 |
07/20/2021 |
07/27/2021 |
T+7 |
07/21/2021 |
07/28/2021 |
T+7 |
09/17/2021 |
09/24/2021 |
T+7 |
Jordan |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
07/15/2021 |
07/25/2021 |
T+10 |
07/18/2021 |
07/26/2021 |
T+8 |
Kazakhstan |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
03/17/2021 |
03/25/2021 |
T+8 |
03/18/2021 |
03/26/2021 |
T+8 |
03/19/2021 |
03/29/2021 |
T+10 |
05/04/2021 |
05/11/2021 |
T+7 |
05/05/2021 |
05/12/2021 |
T+7 |
05/06/2021 |
05/13/2021 |
T+7 |
12/13/2021 |
12/20/2021 |
T+7 |
12/14/2021 |
12/21/2021 |
T+7 |
12/15/2021 |
12/22/2021 |
T+7 |
Kenya |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
03/30/2021 |
04/06/2021 |
T+7 |
03/31/2021 |
04/07/2021 |
T+7 |
04/01/2021 |
04/08/2021 |
T+7 |
Kuwait |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
07/14/2021 |
07/25/2021 |
T+11 |
07/15/2021 |
07/26/2021 |
T+11 |
07/18/2021 |
07/27/2021 |
T+9 |
Latvia |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
06/21/2021 |
06/28/2021 |
T+7 |
06/22/2021 |
06/29/2021 |
T+7 |
Lithuania |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
03/30/2021 |
04/06/2021 |
T+7 |
03/31/2021 |
04/07/2021 |
T+7 |
04/01/2021 |
04/08/2021 |
T+7 |
10/27/2021 |
11/03/2021 |
T+7 |
10/28/2021 |
11/04/2021 |
T+7 |
10/29/2021 |
11/05/2021 |
T+7 |
Luxembourg |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
No settlement cycles (˃=): T+7 |
Malawi |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
03/30/2021 |
04/06/2021 |
T+7 |
03/31/2021 |
04/07/2021 |
T+7 |
04/01/2021 |
04/08/2021 |
T+7 |
05/10/2021 |
05/17/2021 |
T+7 |
05/11/2021 |
05/18/2021 |
T+7 |
05/12/2021 |
05/19/2021 |
T+7 |
Malaysia |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
No settlement cycles (˃=): T+7 |
Mauritius |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
01/26/2021 |
02/02/2021 |
T+7 |
01/27/2021 |
02/03/2021 |
T+7 |
03/08/2021 |
03/15/2021 |
T+7 |
03/09/2021 |
03/16/2021 |
T+7 |
03/10/2021 |
03/17/2021 |
T+7 |
10/27/2021 |
11/03/2021 |
T+7 |
10/28/2021 |
11/05/2021 |
T+8 |
10/29/2021 |
11/08/2021 |
T+10 |
Mexico |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
No settlement cycles (˃=): T+7 |
Morocco |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
05/10/2021 |
05/17/2021 |
T+7 |
05/11/2021 |
05/18/2021 |
T+7 |
05/12/2021 |
05/19/2021 |
T+7 |
07/16/2021 |
07/23/2021 |
T+7 |
07/19/2021 |
07/26/2021 |
T+7 |
07/20/2021 |
07/27/2021 |
T+7 |
10/14/2021 |
10/21/2021 |
T+7 |
10/15/2021 |
10/22/2021 |
T+7 |
10/18/2021 |
10/25/2021 |
T+7 |
Namibia |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
03/15/2021 |
03/23/2021 |
T+8 |
03/16/2021 |
03/24/2021 |
T+8 |
03/17/2021 |
03/25/2021 |
T+8 |
03/18/2021 |
03/26/2021 |
T+8 |
03/19/2021 |
03/29/2021 |
T+10 |
03/26/2021 |
04/06/2021 |
T+11 |
03/29/2021 |
04/07/2021 |
T+9 |
03/30/2021 |
04/08/2021 |
T+9 |
03/31/2021 |
04/09/2021 |
T+9 |
04/01/2021 |
04/12/2021 |
T+11 |
04/20/2021 |
04/28/2021 |
T+8 |
04/21/2021 |
04/29/2021 |
T+8 |
04/22/2021 |
04/30/2021 |
T+8 |
04/23/2021 |
05/03/2021 |
T+10 |
04/26/2021 |
05/05/2021 |
T+9 |
04/28/2021 |
05/06/2021 |
T+8 |
04/29/2021 |
05/07/2021 |
T+8 |
04/30/2021 |
05/10/2021 |
T+10 |
05/03/2021 |
05/11/2021 |
T+8 |
05/06/2021 |
05/14/2021 |
T+8 |
05/07/2021 |
05/17/2021 |
T+10 |
06/09/2021 |
06/17/2021 |
T+8 |
06/10/2021 |
06/18/2021 |
T+8 |
06/11/2021 |
06/21/2021 |
T+10 |
06/14/2021 |
06/22/2021 |
T+8 |
06/15/2021 |
06/23/2021 |
T+8 |
08/02/2021 |
08/10/2021 |
T+8 |
08/03/2021 |
08/11/2021 |
T+8 |
08/04/2021 |
08/12/2021 |
T+8 |
08/05/2021 |
08/13/2021 |
T+8 |
08/06/2021 |
08/16/2021 |
T+10 |
08/19/2021 |
08/27/2021 |
T+8 |
08/20/2021 |
08/30/2021 |
T+10 |
08/23/2021 |
08/31/2021 |
T+8 |
08/24/2021 |
09/01/2021 |
T+8 |
08/25/2021 |
09/02/2021 |
T+8 |
09/17/2021 |
09/27/2021 |
T+10 |
09/20/2021 |
09/28/2021 |
T+8 |
09/21/2021 |
09/29/2021 |
T+8 |
09/22/2021 |
09/30/2021 |
T+8 |
09/23/2021 |
10/01/2021 |
T+8 |
12/03/2021 |
12/13/2021 |
T+10 |
12/06/2021 |
12/14/2021 |
T+8 |
12/07/2021 |
12/15/2021 |
T+8 |
12/08/2021 |
12/17/2021 |
T+9 |
12/09/2021 |
12/20/2021 |
T+11 |
12/13/2021 |
12/21/2021 |
T+8 |
12/14/2021 |
12/22/2021 |
T+8 |
12/15/2021 |
12/23/2021 |
T+8 |
12/20/2021 |
12/28/2021 |
T+8 |
12/21/2021 |
12/29/2021 |
T+8 |
12/22/2021 |
12/30/2021 |
T+8 |
12/23/2021 |
12/31/2021 |
T+8 |
Namibia |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
12/24/2021 |
01/04/2022 |
T+11 |
12/28/2021 |
01/05/2022 |
T+8 |
12/29/2021 |
01/06/2022 |
T+8 |
12/30/2021 |
01/07/2022 |
T+8 |
12/31/2021 |
01/10/2022 |
T+10 |
Netherlands |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
No settlement cycles (˃=): T+7 |
New Zealand |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
No settlement cycles (˃=): T+7 |
Nigeria |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
03/30/2021 |
04/06/2021 |
T+7 |
03/31/2021 |
04/07/2021 |
T+7 |
04/01/2021 |
04/08/2021 |
T+7 |
05/10/2021 |
05/17/2021 |
T+7 |
05/11/2021 |
05/18/2021 |
T+7 |
05/12/2021 |
05/19/2021 |
T+7 |
07/15/2021 |
07/22/2021 |
T+7 |
07/16/2021 |
07/23/2021 |
T+7 |
07/19/2021 |
07/26/2021 |
T+7 |
Norway |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
03/29/2021 |
04/06/2021 |
T+8 |
03/30/2021 |
04/07/2021 |
T+8 |
Oman |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
03/08/2021 |
03/15/2021 |
T+7 |
03/09/2021 |
03/16/2021 |
T+7 |
03/10/2021 |
03/17/2021 |
T+7 |
05/09/2021 |
05/16/2021 |
T+7 |
05/10/2021 |
05/17/2021 |
T+7 |
05/11/2021 |
05/18/2021 |
T+7 |
07/14/2021 |
07/25/2021 |
T+11 |
07/15/2021 |
07/26/2021 |
T+11 |
07/18/2021 |
07/27/2021 |
T+9 |
Pakistan |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
07/16/2021 |
07/26/2021 |
T+10 |
07/19/2021 |
07/27/2021 |
T+8 |
Panama |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
02/11/2021 |
02/18/2021 |
T+7 |
02/12/2021 |
02/19/2021 |
T+7 |
11/01/2021 |
11/08/2021 |
T+7 |
11/02/2021 |
11/09/2021 |
T+7 |
Peru |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
No settlement cycles (˃=): T+7 |
Philippines |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
03/29/2021 |
04/05/2021 |
T+7 |
03/30/2021 |
04/06/2021 |
T+7 |
03/31/2021 |
04/07/2021 |
T+7 |
10/27/2021 |
11/03/2021 |
T+7 |
10/28/2021 |
11/04/2021 |
T+7 |
10/29/2021 |
11/05/2021 |
T+7 |
12/27/2021 |
01/04/2022 |
T+8 |
12/28/2021 |
01/05/2022 |
T+8 |
12/29/2021 |
01/06/2022 |
T+8 |
Poland |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
No settlement cycles (˃=): T+7 |
Portugal |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
No settlement cycles (˃=): T+7 |
Qatar |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
07/15/2021 |
07/25/2021 |
T+10 |
07/18/2021 |
07/26/2021 |
T+8 |
07/19/2021 |
07/27/2021 |
T+8 |
Romania |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
No settlement cycles (˃=): T+7 |
Russia |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
02/17/2021 |
02/24/2021 |
T+7 |
02/18/2021 |
02/25/2021 |
T+7 |
02/19/2021 |
02/26/2021 |
T+7 |
11/01/2021 |
11/08/2021 |
T+7 |
11/02/2021 |
11/09/2021 |
T+7 |
11/03/2021 |
11/10/2021 |
T+7 |
12/28/2021 |
01/04/2022 |
T+7 |
12/29/2021 |
01/05/2022 |
T+7 |
12/30/2021 |
01/06/2022 |
T+7 |
Saudi Arabia |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
05/09/2021 |
05/19/2021 |
T+10 |
05/10/2021 |
05/20/2021 |
T+10 |
05/11/2021 |
05/23/2021 |
T+12 |
07/13/2021 |
07/25/2021 |
T+12 |
07/14/2021 |
07/26/2021 |
T+12 |
07/15/2021 |
07/27/2021 |
T+12 |
Serbia |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
No settlement cycles (˃=): T+7 |
Singapore |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
No settlement cycles (˃=): T+7 |
Slovak Republic |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
No settlement cycles (˃=): T+7 |
Slovenia |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
No settlement cycles (˃=): T+7 |
South Africa |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
03/30/2021 |
04/06/2021 |
T+7 |
03/31/2021 |
04/07/2021 |
T+7 |
04/01/2021 |
04/08/2021 |
T+7 |
South Korea |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
09/16/2021 |
09/23/2021 |
T+7 |
09/17/2021 |
09/24/2021 |
T+7 |
Spain |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
No settlement cycles (˃=): T+7 |
Sri Lanka |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
04/08/2021 |
04/15/2021 |
T+7 |
04/09/2021 |
04/16/2021 |
T+7 |
04/12/2021 |
04/19/2021 |
T+7 |
05/21/2021 |
05/28/2021 |
T+7 |
05/24/2021 |
05/31/2021 |
T+7 |
05/25/2021 |
06/01/2021 |
T+7 |
07/19/2021 |
07/26/2021 |
T+7 |
07/20/2021 |
07/27/2021 |
T+7 |
10/14/2021 |
10/21/2021 |
T+7 |
10/15/2021 |
10/22/2021 |
T+7 |
10/18/2021 |
10/25/2021 |
T+7 |
Sweden |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
03/30/2021 |
04/06/2021 |
T+7 |
03/31/2021 |
04/07/2021 |
T+7 |
Switzerland |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
No settlement cycles (˃=): T+7 |
Taiwan |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
02/08/2021 |
02/17/2021 |
T+9 |
02/09/2021 |
02/18/2021 |
T+9 |
Tanzania |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
03/30/2021 |
04/06/2021 |
T+7 |
03/31/2021 |
04/08/2021 |
T+8 |
Tanzania |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
04/01/2021 |
04/09/2021 |
T+8 |
05/10/2021 |
05/17/2021 |
T+7 |
05/11/2021 |
05/18/2021 |
T+7 |
05/12/2021 |
05/19/2021 |
T+7 |
10/12/2021 |
10/19/2021 |
T+7 |
10/13/2021 |
10/20/2021 |
T+7 |
Thailand |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
04/09/2021 |
04/16/2021 |
T+7 |
04/12/2021 |
04/19/2021 |
T+7 |
Tunisia |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
05/10/2021 |
05/17/2021 |
T+7 |
05/11/2021 |
05/18/2021 |
T+7 |
05/12/2021 |
05/19/2021 |
T+7 |
07/15/2021 |
07/22/2021 |
T+7 |
07/16/2021 |
07/23/2021 |
T+7 |
07/19/2021 |
07/26/2021 |
T+7 |
10/13/2021 |
10/20/2021 |
T+7 |
10/14/2021 |
10/21/2021 |
T+7 |
Turkey |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
05/10/2021 |
05/17/2021 |
T+7 |
05/11/2021 |
05/18/2021 |
T+7 |
07/14/2021 |
07/26/2021 |
T+12 |
07/16/2021 |
07/27/2021 |
T+11 |
Uganda |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
01/11/2021 |
01/18/2021 |
T+7 |
01/12/2021 |
01/19/2021 |
T+7 |
01/13/2021 |
01/20/2021 |
T+7 |
03/30/2021 |
04/06/2021 |
T+7 |
03/31/2021 |
04/07/2021 |
T+7 |
04/01/2021 |
04/08/2021 |
T+7 |
Ukraine |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
01/04/2021 |
01/11/2021 |
T+7 |
01/05/2021 |
01/12/2021 |
T+7 |
01/06/2021 |
01/13/2021 |
T+7 |
04/28/2021 |
05/05/2021 |
T+7 |
04/29/2021 |
05/06/2021 |
T+7 |
04/30/2021 |
05/07/2021 |
T+7 |
08/18/2021 |
08/25/2021 |
T+7 |
08/19/2021 |
08/26/2021 |
T+7 |
08/20/2021 |
08/27/2021 |
T+7 |
10/11/2021 |
10/18/2021 |
T+7 |
10/12/2021 |
10/19/2021 |
T+7 |
10/13/2021 |
10/20/2021 |
T+7 |
United Arab Emirates |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
07/15/2021 |
07/25/2021 |
T+10 |
07/18/2021 |
07/26/2021 |
T+8 |
United Kingdom |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
No settlement cycles (˃=): T+7 |
United States |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
No settlement cycles (˃=): T+7 |
Uruguay |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
No settlement cycles (˃=): T+7 |
Vietnam |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
02/08/2021 |
02/17/2021 |
T+9 |
02/09/2021 |
02/18/2021 |
T+9 |
WAEMU |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
05/07/2021 |
05/14/2021 |
T+7 |
Zambia |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
03/30/2021 |
04/06/2021 |
T+7 |
03/31/2021 |
04/07/2021 |
T+7 |
04/01/2021 |
04/08/2021 |
T+7 |
06/30/2021 |
07/07/2021 |
T+7 |
07/01/2021 |
07/08/2021 |
T+7 |
07/02/2021 |
07/09/2021 |
T+7 |
Zimbabwe |
|
|
Redemption Date |
Redemption Settlement Date |
Settlement Period |
03/30/2021 |
04/06/2021 |
T+7 |
03/31/2021 |
04/07/2021 |
T+7 |
04/01/2021 |
04/08/2021 |
T+7 |
08/04/2021 |
08/11/2021 |
T+7 |
08/05/2021 |
08/12/2021 |
T+7 |
08/06/2021 |
08/13/2021 |
T+7 |
(a) |
Articles of Incorporation, Amended and Restated Agreement and Declaration of Trust, filed with Post-Effective
Amendment No. 168, dated September 22, 2020, is hereby incorporated by reference. |
(b) |
|
(c) |
Instruments Defining Rights of Security Holders, reference is made to Articles III and V of the Registrant’s
Amended and Restated Agreement and Declaration of Trust, refer to Exhibit (a) above. |
(d) |
Investment Advisory Contracts, for Wellington Management Company LLP (with respect to Vanguard U.S. Growth
Fund), filed with Post-Effective Amendment No. 117 dated December 15, 2010; for
Baillie Gifford Overseas Ltd. and
for
Schroder Investment Management North America Inc. (each with respect to Vanguard International Growth
Fund), filed with Post-Effective Amendment No. 118 dated April 8, 2011; for
Baillie Gifford Overseas Ltd. and for
Jennison Associates LLC (each with respect to Vanguard U.S. Growth Fund), filed with Post-Effective Amendment
No. 135 dated April 22, 2014; and for
Wellington Management Company LLP (with respect to Vanguard Global
Wellington Fund and
Vanguard Global Wellesley Income Fund), filed with Post-Effective Amendment No. 146 on
October 6, 2017; and for
Schroder Investment Management North America Inc. (Sub-Advisory Agreement with
Schroder Investment Management North America Limited with respect to Vanguard International Growth Fund),
filed with Post-Effective Amendment No. 165 dated December 20, 2019, are hereby incorporated by reference. The
Vanguard Group, Inc., provides investment advisory services to Vanguard FTSE Social Index Fund, Vanguard
U.S. Sector Index Funds, Vanguard Extended Duration Treasury Index Fund, Vanguard Mega Cap Index Funds,
Vanguard ESG U.S. Stock ETF, Vanguard ESG International Stock ETF, Vanguard ESG U.S. Corporate Bond ETF, and a
portion of Vanguard U.S. Growth Fund pursuant to the Fifth Amended and Restated Funds’ Service Agreement,
refer to Exhibit (h) below. |
(e) |
Underwriting Contracts, not applicable. |
(f) |
Bonus or Profit Sharing Contracts, reference is made to the section entitled “Management of the Funds” in Part B
of this Registration Statement. |
(g) |
Custodian Agreements, for Bank of New York Mellon, filed with Post-Effective Amendment No. 160 dated
December 3, 2018, is hereby incorporated by reference. For
State Street Bank and Trust Company and
JP Morgan
|
(h) |
Other Material Contracts, Form of Authorized Participant Agreement, filed with Post-Effective Amendment No. 117
dated December 15, 2010, and
Fifth Amended and Restated Funds’ Service Agreement, filed with Post-Effective
Amendment No. 169 dated December 22, 2020, is 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) |
|
(o) |
Reserved. |
(p) |
Codes of Ethics
Jennison Associates LLC.,filed with Post-Effective Amendment No. 165 dated December 20, 2019;
and for
Wellington Management Company LLP, filed with Post-Effective Amendment No. 169 dated December 22,
2020 are hereby incorporated by reference. For
Baillie Gifford Overseas Ltd.;
Schroder Investment Management
|
(a) |
Vanguard Marketing Corporation, a wholly owned subsidiary of The Vanguard Group, Inc., is the principal underwriter
of each fund within the Vanguard group of investment companies, a family of over 200 funds. |
(b) |
The principal business address of each named director and officer of Vanguard Marketing Corporation is 100
Vanguard Boulevard, Malvern, PA 19355. |
Name |
Positions and Office with Underwriter |
Positions and Office with Funds |
Matthew J. Benchener |
Chairman, 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 |
Caroline Cosby |
Vice President, Assistant Secretary, and
General Counsel |
None |
Matthew C. Brancato |
Vice President |
None |
Mortimer J. Buckley |
President |
Chairman of the Board of Trustees, Chief
Executive Officer, and President |
John E. Schadl |
Assistant Vice President |
Chief Compliance Officer |
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 |
Financial and Operations Principal and
Treasurer |
None |
Celeste Hagerty |
Financial and Operations Principal |
None |
Danielle Corey |
Annuity and Insurance Officer |
None |
Jeff Seglem |
Annuity and Insurance Officer |
None |
Barbara Bock |
Controller |
None |
Jason Botzler |
Vice President |
None |
John Cleborne |
Vice President |
None |
James M. Delaplane Jr. |
Vice President |
None |
Andrew Kadjeski |
Vice President |
None |
Amy M. Laursen |
Vice President |
None |
Michael V. Lucci |
Vice President |
None |
Paul M. Jakubowski |
Vice President |
None |
John James |
Vice President |
None |
Douglas R. Mento |
Vice President |
None |
Jodi Miller |
Vice President |
None |
David Petty |
Vice President |
None |
David MacBride |
Vice President |
None |
(c) |
Not applicable. |
Signature |
Title |
Date |
/s/ Mortimer J. Buckley*
Mortimer J. Buckley |
Chairman and Chief Executive Officer |
December 16, 2021 |
/s/ Tara Bunch*
Tara Bunch |
Trustee |
December 16, 2021 |
/s/ Emerson U. Fullwood*
Emerson U. Fullwood |
Trustee |
December 16, 2021 |
/s/ Amy Gutmann*
Amy Gutmann |
Trustee |
December 16, 2021 |
/s/ Joseph Loughrey*
Joseph Loughrey |
Trustee |
December 16, 2021 |
/s/ Mark Loughridge*
Mark Loughridge |
Trustee |
December 16, 2021 |
/s/ Scott C. Malpass*
Scott C. Malpass |
Trustee |
December 16, 2021 |
/s/ Deanna Mulligan*
Deanna Mulligan |
Trustee |
December 16, 2021 |
/s/ André F. Perold*
André F. Perold |
Trustee |
December 16, 2021 |
/s/ Sarah Bloom Raskin*
Sarah Bloom Raskin |
Trustee |
December 16, 2021 |
/s/ David Thomas*
David Thomas |
Trustee |
December 16, 2021 |
/s/ Peter F. Volanakis*
Peter F. Volanakis |
Trustee |
December 16, 2021 |
Signature |
Title |
Date |
/s/ Christine Buchanan*
Christine Buchanan |
Chief Financial Officer |
December 16, 2021 |