1Vanguard average index ETF and mutual fund expense ratio: 0.05%. Industry average index ETF and mutual fund expense ratio: 0.18%. All averages are asset-weighted. Industry average excludes Vanguard. Sources: Vanguard and Morningstar, Inc., as of December 31, 2023.
2For the 10-year period ended June 30, 2024, 41 of 54 Vanguard bond index funds, 16 of 18 Vanguard balanced index funds, and 128 of 150 Vanguard stock index funds—for a total of 185 of 222 Vanguard index funds—outperformed their Lipper peer-group averages. Results will vary for other time periods. Only index mutual funds and ETFs with a minimum 10-year history were included in the comparison. Source: Refinitiv Lipper, an LSEG Business.Note that the competitive performance data shown represent past performance, which is not a guarantee of future results, and that all investments are subject to risks. For the most recent performance, visit our website at visit our website at www.vanguard.com/performance.
For more information about Vanguard mutual funds or Vanguard ETFs, obtain a mutual fund or an ETF prospectus or, if available, a summary prospectus. Investment objectives, risks, charges, expenses, and other important information are contained in the prospectus; read and consider it carefully before investing.
All investing is subject to risk, including the possible loss of the money you invest. Diversification does not ensure a profit or protect against a loss. There is no guarantee that any particular asset allocation or mix of funds will meet your investment objectives or provide you with a given level of income.
Bond funds are subject to the risk that an issuer will fail to make payments on time and that bond prices will decline because of rising interest rates or negative perceptions of an issuer's ability to make payments. Investments in stocks or bonds issued by non-U.S. companies are subject to risks including country/regional risk and currency risk. Funds that concentrate on a relatively narrow market sector face the risk of higher share-price volatility.
Investments in Target Retirement Funds are subject to the risks of their underlying funds. The year in the fund name refers to the approximate year (the target date) when an investor in the fund would retire and leave the workforce. The fund will gradually shift its emphasis from more aggressive investments to more conservative ones based on its target date. An investment in a Target Retirement Fund is not guaranteed at any time, including on or after its target date.
ESG funds are subject to ESG investment risk, which is the chance that the stocks or bonds screened bythe index provider or advisor, as applicable, for ESG criteria generally will underperform the market as awhole or, in the aggregate, will trail returns of other funds screened for ESG criteria. The index provideror advisor's assessment of a company, based on the company's level of involvement in a particularindustry or their own ESG criteria, may differ from that of other funds or an investor's assessment of suchcompany. As a result, the companies deemed eligible by the index provider or advisor may not reflect thebeliefs and values of any particular investor and may not exhibit positive or favorable ESG characteristics.The evaluation of companies for ESG screening or integration is dependent on the timely and accuratereporting of ESG data by the companies. Successful application of the screens will depend on the indexprovider or advisor's proper identification and analysis of ESG data. The advisor may not be successful inassessing and identifying companies that have or will have a positive impact or support a given position.In some circ*mstances, companies could ultimately have a negative or no impact or support of a givenposition.
