PDF Vanguard 500 Index Admiral VFIAX - T. Rowe Price

Release Date: 12-31-2019

Vanguard 500 Index Admiral VFIAX

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Benchmark

Overall Morningstar RatingTM

Morningstar Return

Morningstar Risk

Russell 1000 TR USD

QQQQQ

High

Average

Out of 1203 Large Blend investments. An investment's overall Morningstar Rating, based on its risk-adjusted return, is a

weighted average of its applicable 3-, 5-, and 10-year Ratings. See disclosure page for details.

Investment Information

Investment Objective & Strategy from investment's prospectus

The investment seeks to track the performance of a benchmark index that measures the investment return of large-capitalization stocks.

The fund employs an indexing investment approach designed to track the performance of the Standard & Poor's 500 Index, a widely recognized benchmark of U.S. stock market performance that is dominated by the stocks of large U.S. companies. The advisor attempts to replicate the target index by investing all, or substantially all, of its assets in the stocks that make up the index, holding each stock in approximately the same proportion as its weighting in the index.

Fees and Expenses as of 04-26-19

Prospectus Gross Expense Ratio Total Annual Operating Exp per $1000 Maximum Sales Charge 12b-1 Fee Redemption Fee/Term

0.04 % $ 0.40

. . .

Portfolio Manager(s)

Donald M. Butler, CFA. B.A./B.S., Shippensburg University. Michelle Louie, CFA. M.B.A., Georgia Institute of Technology. B.S., American University.

Operations and Management

Fund Inception Date 11-13-00

Management Company Vanguard Group Inc

Telephone

800-662-7447

Web Site



Issuer

Vanguard

Category Description: Large Blend

Large-blend portfolios are fairly representative of the overall US stock market in size, growth rates and price. Stocks in the top 70% of the capitalization of the US equity market are defined as large cap. The blend style is assigned to portfolios where neither growth nor value characteristics predominate. These portfolios tend to invest across the spectrum of US industries, and owing to their broad exposure, the portfolios' returns are often similar to those of the S&P 500 Index.

Volatility And Risk

Investment

Low

Moderate

High

Category

Best 3 Month Return

25.89% (Mar '09 - May '09)

Worst 3 Month Return

-29.62% (Sep '08 - Nov '08)

Performance as of 12-31-19

YTD

1 Year

3 Year

5 Year

10 Year

60 45 30 15 0 -15 -30 -45

Since Inception

Total Return % as of 12-31-19

Investment Benchmark

Average annual, if greater than 1 year

31.46

31.46

15.23

11.66

13.52

6.73

Investment Return %

31.43

31.43

15.05

11.48

13.54

6.91

Benchmark Return %

..............2..8....7..8..................2..8....7..8..................1..3....2..6....................9....7..8..................1..2....0..3....................5....5..2....................C..a..t.e..g..o..r.y...A..v..e..r.a..g..e...%.......

.

. QQQQ QQQQ QQQQQ

.

Morningstar RatingTM

.

.

1203

1058

808

.

# of Funds in Category

The perfoYrmTDance data quYoTtDed reflects paYsTDt performanceYTaDnd is calculaYtTeDd according tYoTMD orningstar's methodology. For new share classes of an investment, the performance reflected for periods prior to the inception date of such class may have been calculated using the historical returns of the original share class, and in such cases is displayed in italics. The historical returns of the original share class are adjusted to reflect differences in fees when the newer share class has higher fees than the oldest share class but are not adjusted when the newer class has lower fees. Past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower than the performance data quoted. For the most recent month end performance information, please call 1-800-922-9945, or visit rps..

Portfolio Analysis

Composition as of 12-31-19

U.S. Stocks Non-U.S. Stocks Bonds Cash Other

% Assets

98.7 1.0 0.0 0.4 0.0

Morningstar Equity Style BoxTM as of 12-31-19

% Market Cap

Large Mid Small

.G..i.a..n..t.......................................5..5.....0..8.

Large

34.73

Medium

10.20

.S..m...a..l.l........................................0.....0..0.

Value Blend Growth

Micro

0.00

Top 10 Holdings as of 12-31-19

% Assets

Apple Inc

4.57

Microsoft Corp

4.48

Inc

2.87

Facebook Inc A

1.84

J...P..M...o..r..g..a..n...C..h..a..s..e...&...C...o.............................................................1....6..1.

Berkshire Hathaway Inc B

1.60

Alphabet Inc Class C

1.50

Alphabet Inc A

1.49

Johnson & Johnson

1.43

Visa Inc Class A

1.20

.......................................................................................................

Total Number of Stock Holdings

509

Total Number of Bond Holdings

0

Turnover Ratio %

4.00

Total Assets ($mil)

405,577.34

Morningstar Sectors as of 12-31-19

% Fund

h ........C...y.c..l.i.c..a..l...........................................................................3..0....6..8.

r Basic Materials

2.30

t Consumer Cyclical

9.57

y Financial Services

15.89

u Real Estate

2.92

j ........S...e..n..s..it..i.v.e..........................................................................4..4....0..8.

i Communication Services

10.40

o Energy

4.35

p Industrials

9.54

a Technology

19.79

.k.......D...e..f.e..n..s..i.v..e........................................................................2..5....2..3.

s Consumer Defensive

7.54

d Healthcare

14.37

f Utilities

3.32

Principal Risks For more information on the risks presented, please refer to

RISK.pdf

Loss of Money, Not FDIC Insured, Market/Market Volatility, Equity Securities, Management

VFIAX

?2020 Morningstar, Inc., Morningstar Investment ProfilesTM 312-696-6000. All rights reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of information. Past performance is no guarantee of future performance. Visit our investment website at .

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