Important Note Regarding Vanguard Wellington Fund

Vanguard Wellington Fund Investor Shares Return Before Taxes 0.06% 8.98% 7.27% Return After Taxes on Distributions –1.63 7.48 5.94 Return After Taxes on Distributions and Sale of Fund Shares 1.02 6.82 5.57 Vanguard Wellington Fund Admiral Shares Return Before Taxes 0.14% 9.07% 7.37% Comparative Indexes (reflect no deduction for fees, expenses ... ................
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