CONSENT OF INDEPENDENT ACCOUNTANTS

We hereby  consent to the  incorporation  by reference in the  Prospectuses  and
Statement of Additional  Information  constituting parts of this  Post-Effective
Amendment No. 43 to the registration  statement on Form N-1A (the  "Registration
Statement") of our reports dated  February 27, 2003 and March 4, 2003,  relating
to the financial  statements and financial  highlights  appearing in the January
31, 2003  Annual  Reports to  Shareholders  of Vanguard  Dividend  Growth  Fund,
Vanguard Energy Fund,  Vanguard Health Care Fund,  Vanguard Precious Metals Fund
and Vanguard REIT Index Fund, which are also  incorporated by reference into the
Registration  Statement.  We also  consent  to the  references  to us under  the
heading  "Financial  Highlights"  in the  Prospectuses  and under  the  headings
"Financial Statements" and "Service  Providers--Independent  Accountants" in the
Statement of Additional Information.









PricewaterhouseCoopers LLP
Philadelphia, PA

November 17, 2003