Vanguard 500 Index Fund

• For the 12 months ended December 31, 2019, Vanguard 500 Index Fund returned 31.33% for Investor Shares and 31.46% for Admiral Shares, closely tracking its target index, the Standard & Poor’s 500 Index. The fund provides exposure to the stocks of the largest U.S. companies. • The broad U.S. stock market returned about 31%. ................
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