| |
Transaction
Fee on Purchases and Sales |
|
Transaction
Fee on Reinvested Dividends |
|
Transaction
Fee on Conversion to ETF Shares |
|
| |
Management
Fees |
% |
12b-1
Distribution Fee |
|
Other
Expenses |
% |
Total Annual
Fund Operating Expenses |
% |
1
Year |
3
Years |
5
Years |
10
Years |
$ |
$ |
$ |
$ |
|
Total
Return |
Quarter |
|
% |
|
|
-
% |
|
|
1
Year |
5
Years |
10
Years |
Vanguard
FTSE All-World ex-US Index Fund ETF Shares |
|
|
|
Based
on NAV |
|
|
|
Return Before
Taxes |
% |
% |
% |
Return After
Taxes on Distributions |
|
|
|
Return After
Taxes on Distributions and Sale of Fund Shares |
|
|
|
Based
on Market Price |
|
|
|
Return Before
Taxes |
|
|
|
FTSE
All-World ex US Index
(reflects no
deduction for fees or expenses) |
% |
% |
% |
FTSE
Global All Cap ex US Index
(reflects no
deduction for fees or expenses) |
|
|
|
Plain
Talk About Fund Expenses |
All funds
have operating expenses. These expenses, which are deducted
from a
fund’s gross income, are expressed as a percentage of the net assets
of the
fund. Assuming that operating expenses remain as stated in the Fees
and
Expenses section, Vanguard FTSE All-World ex-US Index Fund ETF
Shares’
expense ratio would be 0.07%, or $0.70 per $1,000 of average net
assets.
The average expense ratio for international stock funds in 2022 was
1.23%, or
$12.30 per $1,000 of average net assets (derived from data
provided
by Lipper, a Thomson Reuters Company, which reports on the
fund
industry). |
Plain
Talk About Costs of Investing |
Costs are
an important consideration in choosing an ETF. 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,
including costs generated by shareholders of other share classes
offered by
the fund. 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. |
Plain
Talk About International Investing |
U.S.
investors who invest in foreign securities will encounter risks not
typically
associated with U.S. companies because foreign stock and bond
markets
operate differently from the U.S. markets. For instance, foreign
companies
and governments may not be subject to the same or similar
auditing,
legal, tax, regulatory, financial reporting, accounting, and
recordkeeping
standards and practices as U.S. companies and the U.S.
government,
and their stocks and bonds may not be as liquid as those of
similar
U.S. entities. In addition, foreign stock exchanges, brokers,
companies,
bond markets, and dealers may be subject to different levels of
government
supervision and regulation than their counterparts in the
United
States. Further, the imposition of economic or other sanctions on the
United
States by a foreign country, or on a foreign country or issuer by the
United
States, could impair a fund’s ability to buy, sell, hold, receive,
deliver,
or
otherwise transact in certain investment securities or obtain exposure to
foreign
securities and assets. These factors, among others, could negatively
affect the
returns U.S. investors receive from foreign
investments. |
Plain
Talk About Vanguard’s Unique Corporate Structure |
Vanguard
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. |
Vanguard
Fund |
Inception
Date |
Vanguard
Fund
Number |
CUSIP
Number |
Vanguard
FTSE All-World ex-US Index Fund | |||
ETF
Shares |
3/2/2007 |
991 |
922042775 |
|
|
|
|
|
|
For a
Share Outstanding
Throughout
Each Period |
Year Ended October
31, | ||||
2023 |
2022 |
2021 |
2020 |
2019 | |
Net
Asset Value, Beginning of Period |
$45.79 |
$62.49 |
$49.33 |
$51.58 |
$47.79 |
Investment
Operations |
|
|
|
|
|
Net
Investment Income1 |
1.618 |
1.749 |
1.604 |
1.211 |
1.629 |
Net
Realized and Unrealized Gain (Loss) on Investments |
4.341 |
(16.658) |
13.047 |
(2.166) |
3.692 |
Total from
Investment Operations |
5.959 |
(14.909) |
14.651 |
(.955) |
5.321 |
Distributions |
|
|
|
|
|
Dividends
from Net Investment Income |
(1.639) |
(1.791) |
(1.491) |
(1.295) |
(1.531) |
Distributions
from Realized Capital Gains |
— |
— |
— |
— |
— |
Total
Distributions |
(1.639) |
(1.791) |
(1.491) |
(1.295) |
(1.531) |
Net
Asset Value, End of Period |
$50.11 |
$45.79 |
$62.49 |
$49.33 |
$51.58 |
Total
Return |
12.90% |
-24.27% |
29.82% |
-1.83% |
11.42% |
Ratios/Supplemental
Data |
|
|
|
|
|
Net
Assets, End of Period (Millions) |
$32,768 |
$29,524 |
$35,493 |
$24,308 |
$24,652 |
Ratio of
Total Expenses to Average Net Assets |
0.07%2 |
0.08%2 |
0.07% |
0.08% |
0.08% |
Ratio of
Net Investment Income to Average Net Assets |
3.06% |
3.22% |
2.62% |
2.46% |
3.30% |
Portfolio
Turnover Rate3 |
4% |
3% |
5% |
4% |
4% |
|
|
1 |
Calculated
based on average shares outstanding. |
2 |
The ratio of
expenses to average net assets for the period net of reduction from
custody fee
offset
arrangements was 0.07% and 0.08%, respectively. |
3 |
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.
|