The performance quoted represents past performance and does not guarantee future results. The investment return and principal value of an investment will fluctuate thus an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted herein. For performance data current to the most recent month-end, please call 800-662-7447 or visit www.vanguard.com.
Donald M. Butler, CFA, Principal of Vanguard. He has been with Vanguard since 1992; has managed investment portfolios since 1997; and has co-managed the Fund since 2009. Education: B.S.B.A., Shippensburg University.
Sales Charge %
(taken from prospectus dated 2013-03-28)
Expense Ratio %
based on net assets
(taken from annual report dated 2012-12-31)
Po Box 2600 V26 Valley Forge,
Data on this page does not include the fund's short positions (if any).