Vanguard Funds Registered with the Comisión Clasificadora ...

Vanguard Funds Registered with the Comisi?n Clasificadora de Riesgo

Period ending March 31, 2016

Vanguard U.S.-based mutual funds -- Index equity

Fund Non-U.S. funds Total International Stock Index European Stock Index Pacific Stock Index Emerging Markets Stock Index

U.S. large-cap funds Institutional Total Stock Market Index Total Stock Market Index Institutional Index Institutional Index Institutional Plus Large-Cap Index Growth Index Value Index

U.S. mid-cap funds Extended Market Index Mid-Cap Index Mid-Cap Growth Index Mid-Cap Value Index

U.S. small-cap funds Small-Cap Index Small-Cap Growth Index Small-Cap Value Index U.S. specialty funds

Ticker symbol Target index

VTPSX VESIX VPKIX VEMIX

FTSE Global All Cap ex US Index

FTSE Developed Europe All Cap Index2 FTSE Developed Asia Pacific All Cap Index2 FTSE Emerging Markets All Cap China A Transition Index3

VITNX VITSX VINIX VIIIX VLISX VIGIX VIVIX

CRSP US Total Market Index CRSP US Total Market Index S&P 500 Index S&P 500 Index CRSP US Large Cap Index CRSP US Large Cap Growth Index CRSP US Large Cap Value Index

VIEIX VMCIX VMGIX VMVIX

S&P Completion Index CRSP US Mid Cap Index CRSP US Mid Cap Growth Index CRSP US Mid Cap Value Index

VSCIX VSGIX VSIIX

CRSP US Small Cap Index CRSP US Small Cap Growth Index CRSP US Small Cap Value Index

Number of Expense

holdings

ratio1

Dividend schedule

6,088 1,249 2,247 3,944

0.07% 0.09 0.09 0.12

Quarterly Quarterly Quarterly Quarterly

3,267 3,682

505 505 625 336 319

0.04% 0.04 0.04 0.02 0.07 0.07 0.07

Quarterly Quarterly Quarterly Quarterly Quarterly Quarterly Quarterly

3,299 365 159 204

0.07% 0.07 0.23 0.20

Quarterly Quarterly Quarterly Quarterly

1,501 707 861

0.07% 0.07 0.07

Quarterly Quarterly Quarterly

Dividend Appreciation Index

VDAIX NASDAQ US Dividend Acheivers Select Index

186

0.20

Quarterly

U.S. sector funds Consumer Discretionary Index

Consumer Staples Index Energy Index Financials Index Health Care Index Industrials Index Information Technology Index

Materials Index REIT Index Telecommunication Services Index

Utilities Index

VCDAX

VCSAX VENAX VFAIX VHCIX VINAX VITAX

VMIAX VGSNX VTCAX

VUIAX

MSCI US Investable Market Consumer Discretionary 25/50 Index MSCI US Investable Market Consumer Staples 25/50 Index MSCI US Investable Market Energy 25/50 Index MSCI US Investable Market Financials 25/50 Index MSCI US Investable Market Health Care 25/50 Index MSCI US Investable Market Industrials 25/50 Index

MSCI US Investable Market Information Technology 25/50 Index MSCI US Investable Market Materials 25/50 Index MSCI US REIT Index

MSCI US Investable Market Telecommunication Services 25/50 Index MSCI US Investable Market Utilities 25/50 Index

380

0.09%

Quarterly

98

0.10

Quarterly

143

0.10

Quarterly

560

0.10

Quarterly

336

0.10

Quarterly

342

0.10

Quarterly

381

0.10

Quarterly

118

0.10

Quarterly

150

0.10

Quarterly

31

0.10

Quarterly

81

0.10

Quarterly

All data as of March 31, 2016. 1 As reported in each fund's current prospectus. 2 New benchmark as of October 1, 2015. 3 New benchmark as of November 2, 2015.

-- LA FECHA DE INICIO DE LA OFERTA SER? EL 31.3.2016 Y ESTA OFERTA SE ACOGE A LA NORMA DE CAR?CTER GENERAL N? 336 DE LA SUPERINTENDENCIA DE VALORES Y SEGUROS CHILENA; ?? LA OFERTA VERSA SOBRE VALORES NO INSCRITOS EN EL REGISTRO DE VALORES O EN EL REGISTRO DE VALORES EXTRANJEROS QUE LLEVA LA SUPERINTENDENCIA DE VALORES Y SEGUROS CHILENA, POR LO QUE TALES VALORES NO EST?N SUJETOS A LA FISCALIZACI?N DE ?STA; -- POR TRATAR DE VALORES NO INSCRITOS NO EXISTE LA OBLIGACI?N POR PARTE DEL EMISOR DE ENTREGAR EN CHILE INFORMACI?N P?BLICA RESPECTO DE ESOS VALORES; Y ?? ESOS VALORES NO PODR?N SER OBJETO DE OFERTA P?BLICA MIENTRAS NO SEAN INSCRITOS EN EL REGISTRO DE VALORES CORRESPONDIENTE.

FOR INSTITUTIONAL USE ONLY. NOT FOR PUBLIC DISTRIBUTION

Vanguard U.S.-based mutual funds -- Active equity

Fund Non-U.S. funds International Growth International Value U.S. funds Capital Value Growth and Income Mid-Cap Growth Morgan Growth PRIMECAP Core Selected Value Strategic Equity U.S. Growth U.S. Value WindsorTM Windsor II

Ticker symbol Target index

VWILX VTRIX

MSCI All Country World Index ex USA Net MSCI All Country World Index ex USA Net

VCVLX VGIAX VMGRX VMRAX VPCCX VASVX VSEQX VWUAX VUVLX VWNEX VWNAX

Russell 3000 Value Index S&P 500 Index Russell Midcap Growth Index Russell 3000 Growth Index MSCI US Prime Market 750 Index Russell Midcap Value Index MSCI US Small + Mid Cap 2200 Index Russell 1000 Growth Index Russell 3000 Value Index Russell 1000 Value Index Russell 1000 Value Index

Vanguard U.S.-based mutual funds -- Index fixed income

Fund U.S. funds Total Bond Market Index Short-Term Bond Index

Intermediate-Term Bond Index

Long-Term Bond Index

Ticker symbol Target index

VBTIX VBIPX

VBIMX

VBLLX

Barclays U.S. Aggregate Float Adjusted Index

Barclays U.S. 1-5 Year Government/Credit Float Adjusted Index Barclays U.S. 5-10 Year Government/Credit Float Adjusted Index

Barclays U.S. Long Government/Credit Float Adjusted Index

Vanguard U.S.-based ETFs -- Index equity

ETF Non-U.S. ETFs FTSE Developed Markets FTSE Europe FTSE Pacific FTSE Emerging Markets Global ex-U.S. Real Estate

U.S. large-cap ETFs Total Stock Market S&P 500 Large-Cap Growth Value

U.S. mid-cap ETFs Extended Market Mid-Cap Mid-Cap Growth Mid-Cap Value

U.S. small-cap ETFs Small-Cap Small-Cap Growth Small-Cap Value U.S. specialty ETFs Dividend Appreciation

Ticker symbol Target index

VEA VGK VPL VWO VNQI

FTSE Developed All Cap ex US Transition Index2 FTSE Developed Europe All Cap Index3 FTSE Developed Asia Pacific All Cap Index3 FTSE Emerging Markets All Cap China A Transition Index4

S&P Global ex U.S. Property Index

VTI VOO VV VUG VTV

CRSP US Total Market Index S&P 500 Index CRSP US Large Cap Index CRSP US Large Cap Growth Index CRSP US Large Cap Value Index

VXF VO VOT VOE

S&P Completion Index CRSP US Mid Cap Index CRSP US Mid Cap Growth Index CRSP US Mid Cap Value Index

VB

CRSP US Small Cap Index

VBK

CRSP US Small Cap Growth Index

VBR

CRSP US Small Cap Value Index

VIG

NASDAQ US Dividend Acheivers Select Index

1 As reported in each fund's current prospectus. 2 New benchmark as of December 21, 2015. 3 New benchmark as of October 1, 2015. 4 New benchmark as of November 2, 2015.

For more information on Vanguard funds, please contact your sales team.

Number of Expense

holdings

ratio1

Dividend schedule

168

0.34%

Annually

153

0.46

Annually

151

0.50%

Annually

949

0.23 Semiannually

97

0.43

Annually

307

0.27

Annually

148

0.47

Annually

118

0.39

Annually

398

0.21

Annually

157

0.33

Annually

262

0.26

Annually

138

0.29 Semiannually

266

0.26 Semiannually

Number of Expense

holdings

ratio1

Dividend schedule

7,911

0.05%

Monthly

2,325

0.04

1,849

0.06

2,011

0.06

Monthly

Monthly Monthly

Number of Expense

holdings

ratio1

Dividend schedule

3,773 1,249 2,247 3,944

664

0.09% 0.12 0.12 0.15 0.18

Quarterly Quarterly Quarterly Quarterly Quarterly

3,682 506 625 336 319

0.05% 0.05 0.08 0.08 0.08

Quarterly Quarterly Quarterly Quarterly Quarterly

3,299 365 159 204

0.09% 0.08 0.08 0.08

Quarterly Quarterly Quarterly Quarterly

1,501 707 861

0.08% 0.08 0.08

Quarterly Quarterly Quarterly

186

0.10%

Quarterly

FOR INSTITUTIONAL USE ONLY. NOT FOR PUBLIC DISTRIBUTION

Vanguard U.S.-based ETFs - Index equity

ETF U.S. ETFs Consumer Discretionary

Consumer Staples Energy Financials Health Care Industrials Information Technology

Materials REIT Telecommunication Services

Utilities

Ticker symbol Target index

VCR

VDC VDE VFH VHT VIS VGT

VAW VNQ VOX

VPU

MSCI US Investable Market Consumer Discretionary 25/50 Index MSCI US Investable Market Consumer Staples 25/50 Index

MSCI US Investable Market Energy 25/50 Index

MSCI US Investable Market Financials 25/50 Index

MSCI US Investable Market Health Care 25/50 Index

MSCI US Investable Market Industrials 25/50 Index MSCI US Investable Market Information Technology 25/50 Index MSCI US Investable Market Materials 25/50 Index

MSCI US REIT Index MSCI US Investable Market Telecommunication Services 25/50 Index MSCI US Investable Market Utilities 25/50 Index

Vanguard U.S.-based ETFs - Index fixed income

Number of Expense

holdings

ratio1

Dividend schedule

380

0.10%

Quarterly

98

0.10

Quarterly

143

0.10

Quarterly

560

0.10

Quarterly

336

0.09

Quarterly

342

0.10

Quarterly

381

0.10

Quarterly

118

0.10

Quarterly

150

0.12

Quarterly

31

0.10

Quarterly

81

0.10

Quarterly

ETF U.S. ETFs Total Bond Market Short-Term Bond

Intermediate-Term Bond

Long-Term Bond

Ticker symbol Target index

BND BSV BIV BLV

Barclays U.S. Aggregate Float Adjusted Index

Barclays U.S. 1-5 Year Government/Credit Float Adjusted Index Barclays U.S. 5-10 Year Government/Credit Float Adjusted Index

Barclays U.S. Long Government/Credit Float Adjusted Index

Number of Expense

holdings

ratio1

7,911 2,325 1,849 2,011

0.06% 0.09 0.09 0.09

Dividend schedule

Monthly Monthly Monthly Monthly

Vanguard UCITS mutual funds - Index equity

Fund Non-U.S. funds Global Stock Index European Stock Index Eurozone Stock Index Japan Stock Index Pacific ex-Japan Stock Index Emerging Markets Stock Index

Ticker symbol Target index

VUGSI VUESI VUAEZ VUJSS VUEJS VUSIP

MSCI World Index MSCI Europe Index MSCI EMU Index MSCI Japan Index MSCI Pacific ex-Japan Index MSCI Emerging Markets Index

Number of holdings

Ongoing Charges

Figure1

Dividend schedule2

1,659 455 250 319 153 857

0.25%

--

0.30

--

0.30

--

0.23

--

0.23

--

0.27

--

Vanguard UCITS ETFs - Index equity

ETF UCITS ETFs

NYSE SIX Swiss

London Stock Euronext Exchange

Exchange Ticker Ticker Ticker

GBP USD EUR

CHF Target index

Number of holdings

Ongoing Charges

Figure1

Dividend schedule

S&P 500

VUSA VUSD VUSA VUSA S&P 500 Index

503

0.07% Quarterly

FTSE Emerging Markets

VFEM VDEM VFEM VFEM FTSE Emerging Index

990

0.25

Quarterly

FTSE Japan

VJPN VDJP VJPN

VJPN FTSE Japan Index

483

0.19

Quarterly

FTSE Developed Europe

VEUR --

VEUR VEUR FTSE Developed Europe Index

539

0.12

Quarterly

FTSE 100

VUKE --

--

-- FTSE 100 Index

101

0.09

Quarterly

FTSE All-World

VWRL VWRD VWRL VWRL FTSE All World Index

2,955

0.25

Quarterly

FTSE All-World High Dividend Yield

VHYL VHYD VHYL VHYL FTSE All-World High Dividend Yield Index

1,189

0.29

Quarterly

All data as of March 31, 2016.

1 As reported in each fund's current prospectus. 2 The UCITS funds do not intend to declare dividends for the share classes shown. The funds' income and capital gains will be reinvested into the fund and are reflected in the net asset value per share.

Please see the risk disclosures on the back.

FOR INSTITUTIONAL USE ONLY. NOT FOR PUBLIC DISTRIBUTION

Connect with VanguardTM > Sergio Guzman Sergio_Guzman@ +1 610 669 3348

P.O. Box 2900 Valley Forge, PA 19482-2900

This information is intended for investors outside the United States. The information contained herein does not constitute an offer or solicitation and may not be treated as an offer or solicitation in any jurisdiction where such an offer or solicitation is against the law, or to anyone to whom it is unlawful to make such an offer or solicitation, or if the person making the offer or solicitation is not qualified to do so.

Vanguard ETF Shares are not redeemable with the issuing Fund other than in very large aggregations worth millions of dollars. Instead, investors must buy or sell Vanguard ETF Shares in the secondary market and hold those shares in a brokerage account. In doing so, the investor may incur brokerage commissions and may pay more than net asset value when buying and receive less than net asset value when selling.

Investors cannot invest directly in an index.

All investing is subject to risk, including possible loss of principal.

Investments in stocks or bonds issued by non-U.S. companies are subject to risks including country/regional risk and currency risk. Stocks of companies based in emerging markets are subject to national and regional political and economic risks and to the risk of currency fluctuations. These risks are especially high in emerging markets. 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.

Sector funds are subject to sector risks and non-diversification risks, which may result in performance fluctuations that are more extreme than fluctuations in the overall stock market. Prices of mid- and small-cap funds often fluctuate more than those of large-cap funds.

The Vanguard ETFs are not sponsored, endorsed, sold or promoted by Barclays Capital Inc. or its affiliates ("Barclays"). Barclays does not make any representation regarding the advisability of Vanguard ETFs or the advisability of investing in securities generally. Barclays' only relationship with Vanguard is the licensing of the Index which is determined, composed and calculated by Barclays without regard to Vanguard or the Vanguard ETFs. Barclays has no obligation to take the needs of Vanguard or the owners of the Vanguard ETFs into consideration in determining, composing or calculating the Index. Barclays has no obligation or liability in connection with administration, marketing or trading of the Vanguard ETFs.

The S&P 500 Index is a product of S&P Dow Jones Indices LLC ("SPDJI"), and has been licensed for use by Vanguard. Standard & Poor's?and S&P? are registered trademarks of Standard & Poor's Financial Services LLC ("S&P"); Dow Jones? is a registered trademark of Dow Jones Trademark Holdings LLC ("Dow Jones"); S&P? and S&P 500? are trademarks of S&P; and these trademarks have been licensed for use by SPDJI and sublicensed for certain purposes by Vanguard. Vanguard product(s) are not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P, their respective affiliates and none of such parties make any representation regarding the advisability of investing in such product(s) nor do they have any liability for any errors, omissions, or interruptions of the index.

The Russell Indexes and Russell? are registered trademarks of Russell Investments and have been licensed for use by The Vanguard Group, Inc. The products are not sponsored, endorsed, sold or promoted by Russell Investments and Russell Investments makes no representation regarding the advisability of investing in the products.

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

London Stock Exchange Group companies include FTSE International Limited ("FTSE"), Frank Russell Company ("Russell"), MTS Next Limited ("MTS"), and FTSE TMX Global Debt Capital Markets Inc. ("FTSE TMX"). All rights reserved. "FTSE?", "Russell?", "MTS?", "FTSE TMX?" and "FTSE Russell" and other service marks and trademarks related to the FTSE or Russell indexes are trademarks of the London Stock Exchange Group companies and are used by FTSE, MTS, FTSE TMX and Russell under licence. All information is provided for information purposes only. No responsibility or liability can be accepted by the London Stock Exchange Group companies nor its licensors for any errors or for any loss from use of this publication. Neither the London Stock Exchange Group companies nor any of their licensors make any claim, prediction, warranty or representation whatsoever, expressly or impliedly, either as to the results to be obtained from the use of the FTSE Indices or the fitness or suitability of the Indices for any particular purpose to which they might be put.

"Dividend Achievers"is a trademark of The NASDAQ OMX Group, Inc. (collectively, with its affiliates, "NASDAQ OMX") and has been licensed for use by The Vanguard Group, Inc. Vanguard mutual funds are not sponsored, endorsed, sold, or promoted by NASDAQ OMX and NASDAQ OMX makes no representation regarding the advisability of investing in the funds. NASDAQ OMX MAKES NO WARRANTIES AND BEARS NO

FOR INSTITUTIONAL USE ONLY. NOT FOR PUBLIC DISTRIBUTION Investment Products: Not FDIC Insured ? No Bank Guarantee ? May Lose Value

? 2016 The Vanguard Group Inc. All rights reserved. U.S. Patent Nos. 6,879,964; 7,337,138; 7,720,749; 7,925,573; 8,090,646; and 8,417,623. Vanguard Marketing Corporation, Distributor.

CCRFS_032016

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