See the inside front cover for important information about access to your fund’s annual and semiannual shareholder reports. |
Institutional Shares | Institutional Plus Shares | |
Sales Charge (Load) Imposed on Purchases | None | None |
Purchase Fee | None | None |
Sales Charge (Load) Imposed on Reinvested Dividends | None | None |
Redemption Fee | None | None |
Institutional Shares | Institutional Plus Shares | |
Management Fees | 0.03% | 0.03% |
12b-1 Distribution Fee | None | None |
Other Expenses | 0.01% | 0.00% |
Total Annual Fund Operating Expenses | 0.04% | 0.03% |
1 Year | 3 Years | 5 Years | 10 Years | |
Institutional Shares | $4 | $13 | $23 | $51 |
Institutional Plus Shares | $3 | $10 | $17 | $39 |
Total Return | Quarter | |
Highest | 16.20% | March 31, 2019 |
Lowest | -21.38% | September 30, 2011 |
1 Year | 5 Years | 10 Years | |
Vanguard Small-Cap Index Fund Institutional Shares | |||
Return Before Taxes | 27.40% | 8.90% | 12.83% |
Return After Taxes on Distributions | 26.86 | 8.41 | 12.38 |
Return After Taxes on Distributions and Sale of Fund Shares | 16.41 | 6.87 | 10.60 |
Comparative
Indexes (reflect no deduction for fees, expenses, or taxes) |
|||
MSCI US Small Cap 1750 Index | 25.86% | 8.31% | 12.45% |
Spliced Small Cap Index | 27.35 | 8.86 | 12.78 |
CRSP US Small Cap Index | 27.35 | 8.86 | — |
1 Year | 5 Years | Since Inception (Dec. 17, 2010) | |
Vanguard Small-Cap Index Fund Institutional Plus Shares | |||
Return Before Taxes | 27.40% | 8.91% | 11.33% |
Comparative
Indexes (reflect no deduction for fees, expenses, or taxes) |
|||
MSCI US Small Cap 1750 Index | 25.86% | 8.31% | 10.91% |
Spliced Small Cap Index | 27.35 | 8.86 | 11.27 |
CRSP US Small Cap Index | 27.35 | 8.86 | — |
Sales Charge (Load) Imposed on Purchases | None |
Purchase Fee | None |
Sales Charge (Load) Imposed on Reinvested Dividends | None |
Redemption Fee | None |
Management Fees | 0.05% |
12b-1 Distribution Fee | None |
Other Expenses | 0.01% |
Total Annual Fund Operating Expenses | 0.06% |
1 Year | 3 Years | 5 Years | 10 Years |
$6 | $19 | $34 | $77 |
Total Return | Quarter | |
Highest | 15.28% | December 31, 2011 |
Lowest | -20.67% | September 30, 2011 |
1 Year | 5 Years | 10 Years | |
Vanguard Small-Cap Value Index Fund Institutional Shares | |||
Return Before Taxes | 22.81% | 7.47% | 11.93% |
Return After Taxes on Distributions | 22.05 | 6.85 | 11.33 |
Return After Taxes on Distributions and Sale of Fund Shares | 13.78 | 5.70 | 9.76 |
Comparative
Indexes (reflect no deduction for fees, expenses, or taxes) |
|||
MSCI US Small Cap Value Index | 22.29% | 7.08% | 11.17% |
Spliced Small Cap Value Index | 22.76 | 7.47 | 11.94 |
CRSP US Small Cap Value Index | 22.76 | 7.47 | — |
Sales Charge (Load) Imposed on Purchases | None |
Purchase Fee | None |
Sales Charge (Load) Imposed on Reinvested Dividends | None |
Redemption Fee | None |
Management Fees | 0.05% |
12b-1 Distribution Fee | None |
Other Expenses | 0.01% |
Total Annual Fund Operating Expenses | 0.06% |
1 Year | 3 Years | 5 Years | 10 Years |
$6 | $19 | $34 | $77 |
Total Return | Quarter | |
Highest | 19.53% | March 31, 2019 |
Lowest | -22.12% | September 30, 2011 |
1 Year | 5 Years | 10 Years | |
Vanguard Small-Cap Growth Index Fund Institutional Shares | |||
Return Before Taxes | 32.77% | 10.51% | 13.67% |
Return After Taxes on Distributions | 32.54 | 10.21 | 13.41 |
Return After Taxes on Distributions and Sale of Fund Shares | 19.49 | 8.23 | 11.42 |
Comparative
Indexes (reflect no deduction for fees, expenses, or taxes) |
|||
MSCI US Small Cap Growth Index | 29.50% | 9.49% | 13.67% |
Spliced Small Cap Growth Index | 32.75 | 10.46 | 13.57 |
CRSP US Small Cap Growth Index | 32.75 | 10.46 | — |
Plain Talk About Costs of Investing |
Costs are an important consideration in choosing a mutual fund. That is because you, as a shareholder, pay a proportionate share of the costs of operating a fund and any transaction costs incurred when the fund buys or sells securities. These costs can erode a substantial portion of the gross income or the capital appreciation a fund achieves. Even seemingly small differences in expenses can, over time, have a dramatic effect on a fund’s performance. |
Vanguard Fund | Asset-Weighted
Median Market Capitalization |
Small-Cap Index Fund | $4.73 billion |
Small-Cap Value Index Fund | 4.23 |
Small-Cap Growth Index Fund | 5.38 |
Plain Talk About Growth Funds and Value Funds |
Growth investing and value investing are two styles employed by stock-fund managers. Growth funds generally invest in stocks of companies believed to have above-average potential for growth in revenue, earnings, cash flow, or other similar criteria. These stocks typically have low dividend yields, if any, and above-average prices in relation to measures such as earnings and book value. Value funds typically invest in stocks whose prices are below average in relation to those measures; these stocks often have above-average dividend yields. Value stocks also may remain undervalued by the market for long periods of time. Growth and value stocks have historically produced similar long-term returns, though each category has periods when it outperforms the other. |
Plain Talk About Vanguard’s Unique Corporate Structure |
The Vanguard Group is owned jointly by the funds it oversees and thus indirectly by the shareholders in those funds. Most other mutual funds are operated by management companies that are owned by third parties—either public or private stockholders—and not by the funds they serve. |
Plain Talk About Distributions |
As a shareholder, you are entitled to your portion of a fund’s income from interest and dividends, as well as capital gains from the fund’s sale of investments. Income consists of both the dividends that the fund earns from any stock holdings and the interest it receives from any money market and bond investments. Capital gains are realized whenever the fund sells securities for higher prices than it paid for them. These capital gains are either short-term or long-term, depending on whether the fund held the securities for one year or less or for more than one year. |
Plain Talk About Buying a Dividend |
Unless you are a tax-exempt investor or investing through a tax-advantaged account (such as an IRA or an employer-sponsored retirement or savings plan), you should consider avoiding a purchase of fund shares shortly before the fund makes a distribution, because doing so can cost you money in taxes. This is known as “buying a dividend.” For example: On December 15, you invest $5,000, buying 250 shares for $20 each. If the fund pays a distribution of $1 per share on December 16, its share price will drop to $19 (not counting market change). You still have only $5,000 (250 shares x $19 = $4,750 in share value, plus 250 shares x $1 = $250 in distributions), but you owe tax on the $250 distribution you received—even if you reinvest it in more shares. To avoid buying a dividend, check a fund’s distribution schedule before you invest. |
Year Ended December 31, | |||||
For a Share Outstanding Throughout Each Period | 2019 | 2018 | 2017 | 2016 | 2015 |
Net Asset Value, Beginning of Period | $63.22 | $70.78 | $61.77 | $53.05 | $55.87 |
Investment Operations | |||||
Net Investment Income | 1.1011 | 1.0761 | 0.9751 | 0.915 | 0.803 |
Net Realized and Unrealized Gain (Loss) on Investments | 16.161 | (7.575) | 8.998 | 8.734 | (2.834) |
Total from Investment Operations | 17.262 | (6.499) | 9.973 | 9.649 | (2.031) |
Distributions | |||||
Dividends from Net Investment Income | (1.112) | (1.061) | (0.963) | (0.929) | (0.789) |
Distributions from Realized Capital Gains | — | — | — | — | — |
Total Distributions | (1.112) | (1.061) | (0.963) | (0.929) | (0.789) |
Net Asset Value, End of Period | $79.37 | $63.22 | $70.78 | $61.77 | $53.05 |
Total Return | 27.40% | –9.32% | 16.25% | 18.32% | –3.63% |
Ratios/Supplemental Data | |||||
Net Assets, End of Period (Millions) | $17,337 | $14,454 | $15,352 | $13,030 | $10,036 |
Ratio of Total Expenses to Average Net Assets | 0.04% | 0.04% | 0.04% | 0.05% | 0.07% |
Ratio of Net Investment Income to Average Net Assets | 1.49% | 1.47% | 1.49% | 1.68% | 1.46% |
Portfolio Turnover Rate2 | 16% | 15% | 15% | 14% | 11% |
1 | Calculated based on average shares outstanding. |
2 |
Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund's capital shares, including ETF Creation Units. |
Year Ended December 31, | |||||
For a Share Outstanding Throughout Each Period | 2019 | 2018 | 2017 | 2016 | 2015 |
Net Asset Value, Beginning of Period | $182.49 | $204.30 | $178.28 | $153.11 | $161.27 |
Investment Operations | |||||
Net Investment Income | 3.1861 | 3.1021 | 2.8351 | 2.660 | 2.353 |
Net Realized and Unrealized Gain (Loss) on Investments | 46.645 | (21.825) | 25.980 | 25.213 | (8.203) |
Total from Investment Operations | 49.831 | (18.723) | 28.815 | 27.873 | (5.850) |
Distributions | |||||
Dividends from Net Investment Income | (3.231) | (3.087) | (2.795) | (2.703) | (2.310) |
Distributions from Realized Capital Gains | — | — | — | — | — |
Total Distributions | (3.231) | (3.087) | (2.795) | (2.703) | (2.310) |
Net Asset Value, End of Period | $229.09 | $182.49 | $204.30 | $178.28 | $153.11 |
Total Return | 27.40% | –9.30% | 16.27% | 18.33% | –3.62% |
Ratios/Supplemental Data | |||||
Net Assets, End of Period (Millions) | $8,846 | $7,866 | $9,531 | $8,080 | $6,925 |
Ratio of Total Expenses to Average Net Assets | 0.03% | 0.03% | 0.03% | 0.04% | 0.05% |
Ratio of Net Investment Income to Average Net Assets | 1.49% | 1.48% | 1.50% | 1.69% | 1.48% |
Portfolio Turnover Rate2 | 16% | 15% | 15% | 14% | 11% |
1 | Calculated based on average shares outstanding. |
2 |
Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund's capital shares, including ETF Creation Units. |
Year Ended December 31, | |||||
For a Share Outstanding Throughout Each Period | 2019 | 2018 | 2017 | 2016 | 2015 |
Net Asset Value, Beginning of Period | $27.39 | $31.87 | $29.05 | $23.73 | $25.39 |
Investment Operations | |||||
Net Investment Income | 0.6841 | 0.6511 | 0.5871 | 0.51 | 0.465 |
Net Realized and Unrealized Gain (Loss) on Investments | 5.527 | (4.485) | 2.808 | 5.324 | (1.652) |
Total from Investment Operations | 6.211 | (3.834) | 3.395 | 5.834 | (1.187) |
Distributions | |||||
Dividends from Net Investment Income | (0.681) | (0.646) | (0.575) | (0.514) | (0.473) |
Distributions from Realized Capital Gains | — | — | — | — | — |
Total Distributions | (0.681) | (0.646) | (0.575) | (0.514) | (0.473) |
Net Asset Value, End of Period | $32.92 | $27.39 | $31.87 | $29.05 | $23.73 |
Total Return | 22.81% | –12.23% | 11.80% | 24.80% | –4.67% |
Ratios/Supplemental Data | |||||
Net Assets, End of Period (Millions) | $3,632 | $3,077 | $3,649 | $2,882 | $2,334 |
Ratio of Total Expenses to Average Net Assets | 0.06% | 0.06% | 0.06% | 0.06% | 0.07% |
Ratio of Net Investment Income to Average Net Assets | 2.20% | 2.05% | 1.95% | 2.09% | 1.91% |
Portfolio Turnover Rate2 | 19% | 18% | 19% | 18% | 16% |
1 | Calculated based on average shares outstanding. |
2 |
Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund's capital shares, including ETF Creation Units. |
Year Ended December 31, | |||||
For a Share Outstanding Throughout Each Period | 2019 | 2018 | 2017 | 2016 | 2015 |
Net Asset Value, Beginning of Period | $42.40 | $45.29 | $37.47 | $34.22 | $35.45 |
Investment Operations | |||||
Net Investment Income | 0.3271 | 0.3351 | 0.3751 | 0.401 | 0.341 |
Net Realized and Unrealized Gain (Loss) on Investments | 13.550 | (2.886) | 7.818 | 3.257 | (1.234) |
Total from Investment Operations | 13.877 | (2.551) | 8.193 | 3.658 | (0.893) |
Distributions | |||||
Dividends from Net Investment Income | (0.327) | (0.339) | (0.373) | (0.408) | (0.337) |
Distributions from Realized Capital Gains | — | — | — | — | — |
Total Distributions | (0.327) | (0.339) | (0.373) | (0.408) | (0.337) |
Net Asset Value, End of Period | $55.95 | $42.40 | $45.29 | $37.47 | $34.22 |
Total Return | 32.77% | –5.69% | 21.94% | 10.74% | –2.52% |
Ratios/Supplemental Data | |||||
Net Assets, End of Period (Millions) | $3,218 | $2,858 | $3,690 | $2,969 | $2,793 |
Ratio of Total Expenses to Average Net Assets | 0.06% | 0.06% | 0.06% | 0.06% | 0.07% |
Ratio of Net Investment Income to Average Net Assets | 0.64% | 0.71% | 0.91% | 1.16% | 0.95% |
Portfolio Turnover Rate2 | 18% | 22% | 19% | 27% | 23% |
1 | Calculated based on average shares outstanding. |
2 |
Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund's capital shares, including ETF Creation Units. |
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Inception Date | Newspaper Abbreviation |
Vanguard Fund Number |
CUSIP Number | |
Small-Cap Index Fund | ||||
Institutional Shares | 7/7/1997 (Investor Shares 10/3/1960) |
SmCapInst | 857 | 922908876 |
Institutional Plus Shares | 12/17/2010 | SmCapIstPl | 1861 | 922908397 |
Small-Cap Value Index Fund | ||||
Institutional Shares | 12/7/1999 (Investor Shares 5/21/1998) |
SmValInst | 865 | 922908785 |
Small-Cap Growth Index Fund | ||||
Institutional Shares | 5/24/2000 (Investor Shares 5/21/1998) |
SmGthInst | 866 | 922908819 |