Vanguard International Stock Index Funds

• For the period, Vanguard FTSE All-World ex-US Index Fund returned –8.49%, trailing its target index and slightly ahead of the average return of peer funds. Vanguard FTSE All-World ex-US Small-Cap Index Fund returned –10.95%, in line with its target index and lagging its peer-group average. (Returns cited are for Investor Shares.) ................
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