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Vanguard® U.S. 500 Stock Index Fund
 

Vanguard® U.S. 500 Stock Index Fund

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    Vanguard® U.S. 500 Stock Index Fund Vanguard® U.S. 500 Stock Index Fund Document Transcript

    • Vanguard® U.S. 500 Stock Index Fund An Index-Related Fund 31 May 2010 Investment objective Total expense ratio The fund seeks to track the performance of the Standard & Poor’s (”S&P”) 500 Institutional Institutional Index, a widely recognised benchmark of U.S. stock market performance that is Investor Shares Shares Hedged† dominated by the stocks of large U.S. companies. Administrative and other expenses 0.15% 0.07% 0.07% Investment management expenses 0.23 0.23 0.23 Total expense ratio 0.38% 0.30% 0.30% Investment strategy The fund employs a “passive management”—or indexing—investment strategy Fund facts Institutional Institutional designed to track the performance of the index by investing in all, or a Investor Shares Shares Hedged representative sample, of the securities that make up the index, holding each Inception date stock in approximate proportion to its weighting in the index. USD 04 November 1998 04 November 1998 — EUR 30 April 2003 26 September 2002 31 October 2006 Purchase fee 0.00% 0.00% 0.00% Redemption fee 0.00% 0.00% 0.00% Fund codes (USD) Fund returns* Bloomberg VANUIVI VANUISI — Vanguard U.S. 500 Stock Index Fund—USD CUSIP G9318R366 G9318R374 — Investor Shares Institutional Shares S&P 500 Net Total ISIN IE0002639668 IE0002639775 — Return†† Sedol 0263966 0263977 — Net of Gross of Net of Gross of Investor Institutional Valoren 0986495 0989771 — expenses expenses expenses expenses Shares Shares Vanguard Fund Code VUSFV VUSFS — 1 month -8.08% -8.05% -8.07% -8.05% -8.05% -8.05% 3 months -1.12 -1.02 -1.10 -1.02 -1.03 -1.03 Fund codes (EUR) Year to date -1.86 -1.71 -1.83 -1.71 -1.74 -1.74 Bloomberg VANUIEN VANUIEI VANUSEH 1 year 19.87 20.33 19.98 20.34 20.25 20.25 CUSIP G9318R424 G9318R416 — 3 years -9.49 -9.15 -9.42 -9.15 -9.30 -9.30 ISIN IE0032620787 IE0032126645 IE00B1G3DH73 5 years -0.59 -0.21 -0.51 -0.21 -0.32 -0.32 Sedol 3262078 3212664 B1G3DH7 10 years -1.65 -1.28 -1.57 -1.28 -1.37 -1.37 Valoren 1592729 1520502 — Vanguard Fund Code VEUFV VEUFS VEUEH Vanguard U.S. 500 Stock Index Fund—EUR Minimum initial investment Investor Shares Institutional Shares S&P 500 Index with USD/EUR 100,000 500,000 500,000 70% Div in Euros Net of Gross of Net of Gross of Investor Institutional Domicile Currencies expenses expenses expenses expenses Shares Shares Ireland USD,EUR 1 month -0.89% -0.85% -0.88% -0.85% -0.85% -0.85% Trading frequency Settlement 3 months 9.43 9.53 9.45 9.53 9.52 9.52 Daily (14.00 GMT cutoff) T+3 Year to date 14.18 14.36 14.22 14.36 14.32 14.32 Total assets Structure 1 year 37.60 38.12 37.71 38.13 38.02 38.02 USD (millions) 2,464 UCITS III 3 years -6.82 -6.46 -6.74 -6.46 -6.63 -6.63 EUR (millions) 1,998 5 years -0.56 -0.18 -0.48 -0.18 -0.30 -0.30 Since inception 2.14 2.53 1.29 1.59 2.45 1.52 Investment Manager Vanguard U.S. 500 Stock Index Fund— Institutional Hedged Shares The Vanguard Group, Inc. (Vanguard) Institutional Shares S&P 500 Index EUR Hedged Net of Gross of Donald M. Butler, CFA, Principal expenses expenses Institutional Shares Portfolio manager. 1 month -8.79% -8.77% -8.69% Advised the fund since 1998. 3 months -1.82 -1.74 -1.65 Worked in investment management since 1997. Year to date -2.59 -2.47 -2.40 B.S.B.A., Shippensburg University. 1 year 18.90 19.25 19.27 3 years -10.78 -10.51 -10.63 Since inception -6.51 -6.23 -6.33 *Figures for periods of less than one year are cumulative returns. All other figures represent average annual returns. Performance figures include the reinvestment of all dividends and any capital gains distributions. †Insitutional hedged class in Euros. ††The S&P 500 Net Total Return Index represents price-plus-net cash dividend return. Net cash dividend equals reinvested dividends less 30% withholding tax.
    • Vanguard® U.S. 500 Stock Index Fund An Index-Related Fund Quarterly fund commentary as at 31 March 2010 Sector diversification (% of common stock) • Continuing the intense rally that began in early March 2009, U.S. equity U.S. 500 S&P 500 markets climbed higher in the first quarter of 2010. The Standard & Poor’s Stock Index Fund Index Consumer Discretionary 10.6% 10.6% 500 Net Total Return Index returned 5.23% for the quarter, and the U.S. Consumer Staples 11.3 11.3 500 Stock Index Fund closely tracked the index. Energy 10.7 10.7 • Among sectors, financials (+11.3%), industrials (+13.0%), and consumer Financials 16.3 16.3 discretionary (+10.5%) were the leading contributors to the index’s return Health Care 11.7 11.7 for the quarter. In financials, Bank of America (+19%) and Wells Fargo Industrials 10.6 10.6 (+16%) were the top contributors, while in industrials, strong Information Technology 18.9 18.9 performances from Boeing (+35%) and General Electric (+21%) aided Materials 3.5 3.5 returns. The only sectors to post negative returns for the quarter were Telecommunication Services 2.8 2.8 utilities. (–35%) and telecommunication services (–4.3%). Utilities 3.6 3.6 • For the 12 months ended 31 March, the fund tracked the S&P 500 Net Total 100.0% 100.0% Total Return Index (+48.80%) as all ten sectors notched positive double-digit performance. Financials (+82.4%), information technology Volatility (+58.3%), and industrials (+73.3%) were the top contributors. The R-Squared Beta information technology and financials sectors combined contributed more Investor Shares 1.00 1.00 than 40% of the index return. Institutional Shares 1.00 1.00 • Top individual contributors for the 12 months were Apple (+124%) and Institutional Hedged 1.00 1.00 Microsoft (+63%) in information technology and Bank of America (+162%), R-squared and beta are calculated from trailing 36-month fund returns relative to the S&P 500 Wells Fargo (+120%), and JPMorgan Chase (+69%) in financials. Broad Net Total Return. strength across industrial stocks contributed to the sector’s strong performance for the year. All returns are based in U.S. dollars. Fund characteristics U.S. 500 S&P 500 Stock Index Fund Index Number of stocks 504 500 Median market cap $42.0B $41.0B Price/earnings ratio 17.2x 17.2x Price/book ratio 2.1x 2.1x Return on equity 20.6% 20.6% Earnings growth rate 6.3% 6.3% Cash investments 0.5% — Turnover rate -15% — Equity yield (dividend) 2.1% 2.1% The PTR approach considers the total security purchases and sales, the total subscriptions and redemptions and the average net assets of the fund to calculate the turnover figure. Data as of 31 December 2009. Ten largest holdings U.S. 500 Stock Index Fund Exxon Mobil Corp. 2.9% Apple Inc. 2.4 Microsoft Corp. 2.0 Procter & Gamble Co. 1.8 General Electric Co. 1.8 International Business Machines Corp. 1.7 Johnson & Johnson 1.6 Bank of America Corp. 1.6 JPMorgan Chase & Co. 1.6 Wells Fargo & Co. 1.5 For more information Total 18.9% Web: http://global.vanguard.com Email (global): international@vanguard.com Email (Europe): client.service@vanguard.be Tel (global): +1 610 669 6705 Tel (Europe): +32 (0) 2 357 3030 Standard & Poor’s 500®, S&P 500®, and 500 are trademarks of The McGraw-Hill Companies, Inc., and have been licensed for use by The Vanguard Group, Inc. Vanguard mutual funds are not sponsored, endorsed, sold, or promoted by Standard & Poor’s, and Standard & Poor’s makes no representation regarding the advisability of investing in the funds. 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. This provides information about sub-funds of Vanguard Investment Series plc. The performance data shown represent past performance. Past performance may not be a reliable guide to future performance. Changes in exchange rates may have an adverse effect on the value, price or income of a fund. Income may fluctuate in accordance with market conditions and taxation arrangements. The sale of Vanguard Investment Series plc funds is subject to conditions stipulated in the prospectus, supplements to the prospectus, simplified prospectuses, and, in some countries, local addenda. These documents can be obtained free of cost at the office of the administrator in JPMorgan House, International Financial Services Centre, Dublin 1, Ireland. These documents contain detailed information on the management, costs, possible limitations and investments risks associated with investing in the Vanguard Investment Series plc funds and should be carefully read before investing. Vanguard Investment Series plc has been authorised in Ireland as a UCITS pursuant to the European Communities (Undertakings for Collective Investment in Transferable Securities) Regulations, 2003 as amended. The difference between the sale and re-purchase price of units in Vanguard Investment Series plc (taking in account of possible portfolio transaction charges) means that any investment should be viewed as medium to long-term. Investors should also note that, in certain circumstances set out in the prospectus, a redemption charge may become payable. Vanguard Investments Europe SA is a Distributor of the Vanguard Investment Series plc. For Professional Investors as defined under the MiFID Directive only. In Switzerland for Qualified Investors as defined in Switzerland by SFA only. Not for Public Distribution. © 2010 The Vanguard Group, Inc. All rights reserved. F9949EN_052010