• | Based on actual fund return. This section helps you to estimate the actual expenses that you paid over the period. The ”Ending Account Value“ shown is derived from the fund’s actual return, and the third column shows the dollar amount that would have been paid by an investor who started with $1,000 in the fund. You may use the information here, together with the amount you invested, to estimate the expenses that you paid over the period. |
• | Based on hypothetical 5% yearly return. This section is intended to help you compare your fund‘s costs with those of other mutual funds. It assumes that the fund had a yearly return of 5% before expenses, but that the expense ratio is unchanged. In this case—because the return used is not the fund’s actual return—the results do not apply to your investment. The example is useful in making comparisons because the Securities and Exchange Commission requires all mutual funds to calculate expenses based on a 5% return. You can assess your fund’s costs by comparing this hypothetical example with the hypothetical examples that appear in shareholder reports of other funds. |
Six Months Ended April 30, 2021 | |||
Beginning Account Value 10/31/2020 |
Ending Account Value 4/30/2021 |
Expenses Paid During Period | |
Based on Actual Fund Return | |||
Total International Stock Index Fund | |||
Investor Shares | $1,000.00 | $1,276.70 | $0.96 |
ETF Shares | 1,000.00 | 1,278.10 | 0.45 |
AdmiralTM Shares | 1,000.00 | 1,277.70 | 0.62 |
Institutional Shares | 1,000.00 | 1,277.90 | 0.45 |
Institutional Plus Shares | 1,000.00 | 1,278.00 | 0.40 |
Institutional Select Shares | 1,000.00 | 1,278.10 | 0.28 |
Based on Hypothetical 5% Yearly Return | |||
Total International Stock Index Fund | |||
Investor Shares | $1,000.00 | $1,023.95 | $0.85 |
ETF Shares | 1,000.00 | 1,024.40 | 0.40 |
Admiral Shares | 1,000.00 | 1,024.25 | 0.55 |
Institutional Shares | 1,000.00 | 1,024.40 | 0.40 |
Institutional Plus Shares | 1,000.00 | 1,024.45 | 0.35 |
Institutional Select Shares | 1,000.00 | 1,024.55 | 0.25 |
Basic Materials | 7.6% |
Consumer Discretionary | 14.9 |
Consumer Staples | 7.2 |
Energy | 4.6 |
Financials | 18.2 |
Health Care | 8.8 |
Industrials | 14.2 |
Other | 0.0 |
Real Estate | 3.7 |
Technology | 14.3 |
Telecommunications | 3.3 |
Utilities | 3.2 |
Shares | Market Value• ($000) |
Percentage of Net Assets | ||||
Common Stocks | ||||||
†Argentina* | — | 0.00% | ||||
Australia | ||||||
Commonwealth Bank of Australia | 22,215,273 | 1,520,782 | 0.39% | |||
BHP Group Ltd. | 36,927,813 | 1,344,020 | 0.34% | |||
CSL Ltd. | 5,685,451 | 1,187,659 | 0.30% | |||
† | Other*,1,2,3 | 14,724,678 | 3.75% | |||
18,777,139 | 4.78% | |||||
†Austria*,1,2 | 763,186 | 0.19% | ||||
†Belgium*,1 | 2,631,959 | 0.67% | ||||
Brazil | ||||||
CPFL Energia SA | 2,486,600 | 13,435 | 0.00% | |||
† | Other*,1,2 | 6,124,816 | 1.56% | |||
6,138,251 | 1.56% | |||||
Canada | ||||||
Royal Bank of Canada 1 | 17,797,756 | 1,698,617 | 0.43% | |||
Shopify Inc. Class A (XTSE) * | 1,369,282 | 1,616,313 | 0.41% | |||
Toronto-Dominion Bank 1 | 22,580,674 | 1,552,347 | 0.39% | |||
Bank of Nova Scotia 1 | 15,055,701 | 958,719 | 0.24% | |||
Canadian National Railway Co. | 8,882,840 | 956,324 | 0.24% | |||
Enbridge Inc. (XTSE) | 22,658,920 | 873,986 | 0.22% | |||
Enbridge Inc. (XNYS) | 2,575,021 | 99,319 | 0.03% | |||
Shopify Inc. Class A (XNYS) * | 19,536 | 23,102 | 0.01% | |||
† | Other*,1,2 | 18,301,712 | 4.66% | |||
26,080,439 | 6.63% | |||||
†Chile*,1 | 639,535 | 0.16% |
Shares | Market Value• ($000) |
Percentage of Net Assets | ||||
China | ||||||
Tencent Holdings Ltd. | 74,177,126 | 5,917,261 | 1.51% | |||
Alibaba Group Holding Ltd. * | 176,465,509 | 5,101,215 | 1.30% | |||
Meituan Class B * | 47,728,450 | 1,826,774 | 0.47% | |||
China Construction Bank Corp. Class H | 1,165,235,093 | 919,769 | 0.24% | |||
Industrial & Commercial Bank of China Ltd. Class H | 1,001,311,275 | 649,743 | 0.17% | |||
Bank of China Ltd. Class H | 976,941,511 | 387,600 | 0.10% | |||
China Life Insurance Co. Ltd. Class H | 96,429,419 | 195,477 | 0.05% | |||
Alibaba Health Information Technology Ltd. * | 58,917,075 | 179,332 | 0.05% | |||
China Resources Land Ltd. | 34,711,866 | 162,523 | 0.04% | |||
China Petroleum & Chemical Corp. Class H | 328,028,334 | 161,785 | 0.04% | |||
China Resources Beer Holdings Co. Ltd. | 19,687,604 | 158,598 | 0.04% | |||
Agricultural Bank of China Ltd. Class H | 406,252,747 | 157,390 | 0.04% | |||
China Overseas Land & Investment Ltd. | 47,725,808 | 120,787 | 0.03% | |||
China Shenhua Energy Co. Ltd. Class H | 45,634,288 | 95,051 | 0.03% | |||
PetroChina Co. Ltd. Class H | 256,696,298 | 92,865 | 0.03% | |||
PICC Property & Casualty Co. Ltd. Class H | 83,194,810 | 81,447 | 0.02% | |||
China Tourism Group Duty Free Corp. Ltd. Class A | 1,668,292 | 80,059 | 0.02% | |||
Postal Savings Bank of China Co. Ltd. Class H 2 | 117,947,758 | 76,497 | 0.02% | |||
CITIC Ltd. | 60,207,487 | 63,234 | 0.02% | |||
China Longyuan Power Group Corp. Ltd. Class H | 42,979,429 | 63,203 | 0.02% | |||
China Resources Gas Group Ltd. | 11,508,611 | 62,268 | 0.02% | |||
China CITIC Bank Corp. Ltd. Class H | 110,574,650 | 57,724 | 0.02% | |||
Sinopharm Group Co. Ltd. Class H | 15,997,671 | 49,342 | 0.01% | |||
Agricultural Bank of China Ltd. Class A (XSSC) | 92,685,300 | 45,799 | 0.01% | |||
Kunlun Energy Co. Ltd. | 38,844,227 | 41,533 | 0.01% | |||
Industrial & Commercial Bank of China Ltd. Class A (XSSC) | 50,116,798 | 39,699 | 0.01% | |||
China Yangtze Power Co. Ltd. Class A | 11,715,600 | 36,112 | 0.01% | |||
CGN Power Co. Ltd. Class H 2 | 155,656,084 | 35,810 | 0.01% | |||
China Taiping Insurance Holdings Co. Ltd. | 18,822,822 | 34,843 | 0.01% | |||
People's Insurance Co. Group of China Ltd. Class H | 99,780,961 | 34,110 | 0.01% | |||
China Resources Power Holdings Co. Ltd. | 25,241,333 | 33,159 | 0.01% | |||
Dongfeng Motor Group Co. Ltd. Class H | 36,069,800 | 31,348 | 0.01% | |||
China Resources Cement Holdings Ltd. | 28,545,937 | 31,096 | 0.01% | |||
China Literature Ltd. *,1,2 | 2,788,187 | 29,038 | 0.01% | |||
China Galaxy Securities Co. Ltd. Class H | 48,040,592 | 28,552 | 0.01% | |||
China State Construction Engineering Corp. Ltd. Class A | 36,357,238 | 27,723 | 0.01% | |||
China Merchants Port Holdings Co. Ltd. | 16,935,808 | 27,095 | 0.01% | |||
Zhuzhou CRRC Times Electric Co. Ltd. Class H | 6,456,743 | 25,635 | 0.01% | |||
Alibaba Pictures Group Ltd. * | 169,175,048 | 24,579 | 0.01% | |||
China Cinda Asset Management Co. Ltd. Class H | 116,986,268 | 22,995 | 0.01% | |||
China Oilfield Services Ltd. Class H | 25,087,447 | 22,922 | 0.01% | |||
AviChina Industry & Technology Co. Ltd. Class H | 31,649,080 | 20,310 | 0.01% | |||
Air China Ltd. Class H | 25,507,695 | 20,169 | 0.01% | |||
Baoshan Iron & Steel Co. Ltd. Class A | 14,771,544 | 19,634 | 0.01% | |||
Bank of China Ltd. Class A (XSSC) | 39,061,500 | 19,605 | 0.01% | |||
Shanghai Baosight Software Co. Ltd. Class B | 5,044,663 | 18,980 | 0.01% | |||
China Huarong Asset Management Co. Ltd. Class H 2,3 | 144,131,660 | 18,926 | 0.01% | |||
China Overseas Property Holdings Ltd. 1 | 17,825,120 | 18,004 | 0.01% | |||
Citic Pacific Special Steel Group Co. Ltd. Class A | 4,343,547 | 17,334 | 0.01% | |||
Beijing Capital International Airport Co. Ltd. Class H | 23,164,951 | 16,816 | 0.01% | |||
China State Construction International Holdings Ltd. | 23,107,147 | 16,181 | 0.01% | |||
China Resources Pharmaceutical Group Ltd. 2 | 22,606,901 | 15,224 | 0.01% | |||
China Life Insurance Co. Ltd. Class A | 2,922,578 | 14,882 | 0.01% | |||
China Southern Airlines Co. Ltd. Class H * | 21,716,473 | 14,706 | 0.01% | |||
Angang Steel Co. Ltd. Class H | 20,869,337 | 14,347 | 0.01% | |||
China Communications Services Corp. Ltd. Class H | 32,377,139 | 14,000 | 0.01% | |||
China Power International Development Ltd. | 58,463,558 | 13,400 | 0.01% | |||
China Coal Energy Co. Ltd. Class H | 22,675,015 | 12,264 | 0.00% | |||
Sinopec Shanghai Petrochemical Co. Ltd. Class H | 48,848,014 | 12,076 | 0.00% | |||
China Petroleum & Chemical Corp. Class A | 18,061,016 | 11,909 | 0.00% | |||
China Shenhua Energy Co. Ltd. Class A (XSSC) | 3,861,366 | 11,436 | 0.00% |
Shares | Market Value• ($000) |
Percentage of Net Assets | ||||
Sinotrans Ltd. Class H | 24,734,398 | 11,291 | 0.00% | |||
China Construction Bank Corp. Class A (XSSC) | 10,609,801 | 11,024 | 0.00% | |||
Daqin Railway Co. Ltd. Class A | 10,260,355 | 10,899 | 0.00% | |||
Sinopec Engineering Group Co. Ltd. Class H | 17,613,936 | 10,873 | 0.00% | |||
China Merchants Shekou Industrial Zone Holdings Co. Ltd. Class A | 6,061,700 | 10,868 | 0.00% | |||
AVIC Shenyang Aircraft Co. Ltd. Class A | 1,144,652 | 10,203 | 0.00% | |||
China Southern Airlines Co. Ltd. Class A * | 9,950,500 | 9,746 | 0.00% | |||
China CITIC Bank Corp. Ltd. Class A (XSSC) | 11,338,084 | 9,069 | 0.00% | |||
China Railway Signal & Communication Corp. Ltd. Class H 2 | 21,916,792 | 8,699 | 0.00% | |||
China National Nuclear Power Co. Ltd. Class A | 10,280,031 | 8,276 | 0.00% | |||
China Reinsurance Group Corp. Class H | 76,689,686 | 7,988 | 0.00% | |||
AVIC Xi'an Aircraft Industry Group Co. Ltd. Class A | 2,108,200 | 7,819 | 0.00% | |||
Zhongjin Gold Corp. Ltd. Class A | 5,444,290 | 7,170 | 0.00% | |||
Maanshan Iron & Steel Co. Ltd. Class H | 12,662,000 | 6,043 | 0.00% | |||
China Coal Energy Co. Ltd. Class A (XSSC) | 5,591,454 | 6,037 | 0.00% | |||
China BlueChemical Ltd. Class H | 20,423,387 | 5,774 | 0.00% | |||
Shanxi Taigang Stainless Steel Co. Ltd. Class A | 5,871,304 | 5,769 | 0.00% | |||
Dongxing Securities Co. Ltd. Class A | 2,900,222 | 4,607 | 0.00% | |||
China Merchants Energy Shipping Co. Ltd. Class A | 5,686,421 | 4,305 | 0.00% | |||
China Machinery Engineering Corp. Class H | 9,491,978 | 4,247 | 0.00% | |||
Sinopec Kantons Holdings Ltd. | 10,885,559 | 4,179 | 0.00% | |||
CGN New Energy Holdings Co. Ltd. * | 17,006,486 | 4,141 | 0.00% | |||
Power Construction Corp. of China Ltd. Class A | 6,819,409 | 4,019 | 0.00% | |||
China Resources Sanjiu Medical & Pharmaceutical Co. Ltd. Class A | 906,386 | 3,496 | 0.00% | |||
Shanghai Electric Power Co. Ltd. Class A | 3,206,308 | 3,482 | 0.00% | |||
China National Medicines Corp. Ltd. Class A | 610,388 | 3,468 | 0.00% | |||
FAW Jiefang Group Co. Ltd. * | 2,022,485 | 3,449 | 0.00% | |||
China Foods Ltd. | 7,978,630 | 3,322 | 0.00% | |||
AVICOPTER plc Class A | 421,691 | 3,310 | 0.00% | |||
China Satellite Communications Co. Ltd. Class A | 1,282,700 | 3,088 | 0.00% | |||
Heilongjiang Agriculture Co. Ltd. Class A | 1,313,700 | 3,069 | 0.00% | |||
China Merchants Property Operation & Service Co. Ltd. Class A | 926,700 | 3,017 | 0.00% | |||
Sinopec Oilfield Service Corp. Class H * | 32,836,450 | 2,908 | 0.00% | |||
China National Accord Medicines Corp. Ltd. Class B | 998,169 | 2,906 | 0.00% | |||
Guangxi Guiguan Electric Power Co. Ltd. Class A | 3,599,184 | 2,877 | 0.00% | |||
Sinotrans Ltd. Class A (XSSC) | 3,819,621 | 2,873 | 0.00% | |||
Huolinhe Opencut Coal Industry Corp. Ltd. of Inner Mongolia Class A | 1,795,304 | 2,859 | 0.00% | |||
CSSC Offshore & Marine Engineering Group Co. Ltd. Class A (XSSC) * | 821,520 | 2,694 | 0.00% | |||
China CSSC Holdings Ltd. Class A * | 1,073,164 | 2,585 | 0.00% | |||
Grandjoy Holdings Group Co. Ltd. Class A | 4,543,046 | 2,559 | 0.00% | |||
China Galaxy Securities Co. Ltd. Class A | 1,620,500 | 2,493 | 0.00% | |||
Harbin Electric Co. Ltd. Class H * | 8,430,912 | 2,469 | 0.00% | |||
Sinofert Holdings Ltd. * | 18,989,406 | 2,468 | 0.00% | |||
Cinda Real Estate Co. Ltd. Class A | 4,212,701 | 2,360 | 0.00% | |||
China Railway Signal & Communication Corp. Ltd. Class A | 2,606,413 | 2,257 | 0.00% | |||
Inner Mongolia MengDian HuaNeng Thermal Power Corp. Ltd. Class A | 6,181,776 | 2,242 | 0.00% | |||
CSSC Offshore & Marine Engineering Group Co. Ltd. Class H * | 2,247,207 | 2,186 | 0.00% | |||
Haohua Chemical Science & Technology Co. Ltd. Class A | 678,900 | 2,175 | 0.00% | |||
Offshore Oil Engineering Co. Ltd. Class A | 3,045,700 | 2,041 | 0.00% | |||
Maanshan Iron & Steel Co. Ltd. Class A (XSSC) | 3,004,861 | 1,962 | 0.00% | |||
Angang Steel Co. Ltd. Class A | 2,532,750 | 1,902 | 0.00% | |||
SGIS Songshan Co. Ltd. Class A | 2,336,400 | 1,797 | 0.00% | |||
China Publishing & Media Co. Ltd. Class A (XSHG) | 1,550,950 | 1,717 | 0.00% | |||
Sinopec Shanghai Petrochemical Co. Ltd. Class A | 3,027,700 | 1,714 | 0.00% | |||
CGN Power Co. Ltd. Class A | 3,900,400 | 1,632 | 0.00% | |||
CNOOC Energy Technology & Services Ltd. Class A | 4,347,600 | 1,628 | 0.00% | |||
China Merchants Land Ltd. | 10,884,105 | 1,594 | 0.00% | |||
Bluestar Adisseo Co. Class A | 845,412 | 1,577 | 0.00% |
Shares | Market Value• ($000) |
Percentage of Net Assets | ||||
Shennan Circuits Co. Ltd. Class A | 127,854 | 1,564 | 0.00% | |||
Tian Di Science & Technology Co. Ltd. Class A | 2,695,445 | 1,514 | 0.00% | |||
China National Accord Medicines Corp. Ltd. Class A | 231,918 | 1,495 | 0.00% | |||
Glarun Technology Co. Ltd. Class A | 704,000 | 1,493 | 0.00% | |||
Sinopec Oilfield Service Corp. Class A * | 4,928,000 | 1,481 | 0.00% | |||
China Merchants Expressway Network & Technology Holdings Co. Ltd. Class A | 1,233,324 | 1,478 | 0.00% | |||
China Merchants Port Group Co. Ltd. Class A | 581,974 | 1,314 | 0.00% | |||
Air China Ltd. Class A (XSSC) | 1,040,700 | 1,313 | 0.00% | |||
ADAMA Ltd. Class A | 933,088 | 1,275 | 0.00% | |||
Grinm Advanced Materials Co. Ltd. Class A | 676,800 | 1,213 | 0.00% | |||
China CAMC Engineering Co. Ltd. Class A | 1,140,800 | 1,199 | 0.00% | |||
COFCO Capital Holdings Co. Ltd. Class A (XSEC) | 888,084 | 1,169 | 0.00% | |||
China Aluminum International Engineering Corp. Ltd. Class A | 2,197,500 | 1,068 | 0.00% | |||
China Publishing & Media Co. Ltd. Class A (XSSC) | 850,040 | 941 | 0.00% | |||
China Oilfield Services Ltd. Class A | 430,400 | 875 | 0.00% | |||
COFCO Capital Holdings Co. Ltd. Class A (XSHE) | 631,200 | 831 | 0.00% | |||
China Harzone Industry Corp. Ltd. Class A * | 614,775 | 783 | 0.00% | |||
China West Construction Group Co. Ltd. Class A | 382,477 | 494 | 0.00% | |||
† | Other*,1,2,3 | 22,351,649 | 5.59% | |||
40,186,566 | 10.22% | |||||
†Colombia* | 209,450 | 0.05% | ||||
†Czech Republic* | 101,593 | 0.03% | ||||
Denmark | ||||||
Novo Nordisk A/S Class B | 20,212,867 | 1,491,052 | 0.38% | |||
† | Other*,1,2 | 4,171,879 | 1.06% | |||
5,662,931 | 1.44% | |||||
†Egypt* | 113,552 | 0.03% | ||||
†Finland*,1,2 | 3,337,394 | 0.85% | ||||
France | ||||||
LVMH Moet Hennessy Louis Vuitton SE | 3,120,980 | 2,351,192 | 0.60% | |||
Sanofi | 13,643,994 | 1,430,469 | 0.36% | |||
TOTAL SE | 30,314,586 | 1,339,838 | 0.34% | |||
Schneider Electric SE | 6,592,486 | 1,051,870 | 0.27% | |||
L'Oreal SA Loyalty Shares * | 2,539,491 | 1,039,846 | 0.26% | |||
Air Liquide SA Loyalty Shares * | 4,886,128 | 822,836 | 0.21% | |||
L'Oreal SA | 285,417 | 116,870 | 0.03% | |||
Air Liquide SA | 594,141 | 100,055 | 0.03% | |||
L'Oreal SA (Registered) * | 178,621 | 73,140 | 0.02% | |||
Air Liquide SA Loyalty Shares * | 344,294 | 57,980 | 0.02% | |||
† | Other*,1,2,3 | 15,659,876 | 3.97% | |||
24,043,972 | 6.11% | |||||
Germany | ||||||
SAP SE | 14,068,986 | 1,969,949 | 0.50% | |||
Siemens AG (Registered) | 9,413,028 | 1,570,422 | 0.40% | |||
Allianz SE (Registered) | 5,145,261 | 1,335,797 | 0.34% | |||
BASF SE | 11,452,246 | 922,952 | 0.24% | |||
Daimler AG (Registered) | 10,273,124 | 914,295 | 0.23% | |||
† | Other*,1,2 | 15,102,685 | 3.84% | |||
21,816,100 | 5.55% | |||||
†Greece*,3 | 307,135 | 0.08% |
Shares | Market Value• ($000) |
Percentage of Net Assets | ||||
Hong Kong | ||||||
AIA Group Ltd. | 151,572,809 | 1,923,849 | 0.49% | |||
Hong Kong Exchanges & Clearing Ltd. | 15,885,519 | 958,072 | 0.24% | |||
BOC Hong Kong Holdings Ltd. | 44,645,198 | 156,984 | 0.04% | |||
BOC Aviation Ltd. 2 | 2,603,795 | 23,438 | 0.01% | |||
MMG Ltd. * | 30,007,859 | 19,385 | 0.01% | |||
Sun Art Retail Group Ltd. | 20,325,500 | 18,711 | 0.01% | |||
Nexteer Automotive Group Ltd. | 10,257,046 | 11,500 | 0.00% | |||
CITIC Telecom International Holdings Ltd. | 17,103,448 | 6,182 | 0.00% | |||
China Travel International Investment Hong Kong Ltd. * | 29,296,257 | 5,079 | 0.00% | |||
CITIC Resources Holdings Ltd. * | 23,794,891 | 1,192 | 0.00% | |||
† | Other*,1,2,3 | 5,249,275 | 1.33% | |||
8,373,667 | 2.13% | |||||
†Hungary* | 223,689 | 0.06% | ||||
India | ||||||
Reliance Industries Ltd. | 39,989,461 | 1,073,292 | 0.27% | |||
Nestle India Ltd. | 403,198 | 88,677 | 0.02% | |||
† | Other*,2,3 | 10,694,677 | 2.73% | |||
11,856,646 | 3.02% | |||||
†Indonesia*,3 | 1,429,142 | 0.36% | ||||
†Ireland*,1,3 | 598,928 | 0.15% | ||||
†Israel* | 1,430,400 | 0.36% | ||||
Italy | ||||||
Enel SpA | 97,307,585 | 966,199 | 0.25% | |||
† | Other*,1,2,3 | 5,202,083 | 1.32% | |||
6,168,282 | 1.57% | |||||
Japan | ||||||
Toyota Motor Corp. | 30,835,673 | 2,307,254 | 0.59% | |||
SoftBank Group Corp. | 17,429,949 | 1,570,624 | 0.40% | |||
Sony Group Corp. | 15,443,065 | 1,543,981 | 0.39% | |||
Keyence Corp. | 2,255,787 | 1,082,897 | 0.28% | |||
† | Other*,1 | 53,865,425 | 13.69% | |||
60,370,181 | 15.35% | |||||
†Kuwait* | 643,468 | 0.16% | ||||
Malaysia | ||||||
Nestle Malaysia Bhd. | 820,470 | 27,170 | 0.01% | |||
† | Other*,2 | 1,996,792 | 0.51% | |||
2,023,962 | 0.52% | |||||
†Malta*,3 | — | 0.00% | ||||
†Mexico*,2 | 2,107,557 | 0.54% | ||||
Netherlands | ||||||
ASML Holding NV | 5,000,239 | 3,245,865 | 0.83% | |||
† | Other*,1,2,3 | 6,744,310 | 1.71% | |||
9,990,175 | 2.54% | |||||
†New Zealand*,1 | 961,131 | 0.25% |
Shares | Market Value• ($000) |
Percentage of Net Assets | ||||
Norway | ||||||
Elkem ASA 2 | 3,058,806 | 11,225 | 0.00% | |||
† | Other*,2 | 2,133,698 | 0.55% | |||
2,144,923 | 0.55% | |||||
Other4 | ||||||
Vanguard FTSE Emerging Markets ETF 1,5 | 15,759,336 | 834,930 | 0.21% | |||
†Pakistan* | 89,406 | 0.02% | ||||
†Philippines*,2,3 | 814,848 | 0.21% | ||||
†Poland*,1,2,3 | 793,348 | 0.20% | ||||
†Portugal*,1 | 486,924 | 0.12% | ||||
†Qatar* | 798,671 | 0.20% | ||||
†Romania | 29,008 | 0.01% | ||||
†Russia* | 2,743,816 | 0.70% | ||||
†Saudi Arabia*,2 | 3,323,564 | 0.85% | ||||
Singapore | ||||||
COSCO Shipping International Singapore Co. Ltd. * | 10,630,887 | 2,631 | 0.00% | |||
† | Other*,1,3 | 3,026,255 | 0.77% | |||
3,028,886 | 0.77% | |||||
South Africa | ||||||
Naspers Ltd. | 5,292,800 | 1,204,535 | 0.31% | |||
† | Other*,1,2,3 | 3,200,973 | 0.81% | |||
4,405,508 | 1.12% | |||||
South Korea | ||||||
Samsung Electronics Co. Ltd. | 58,584,267 | 4,269,942 | 1.09% | |||
Samsung Electronics Co. Ltd. Preference Shares | 10,615,264 | 696,939 | 0.18% | |||
Tongyang Life Insurance Co. Ltd. | 304,716 | 1,302 | 0.00% | |||
† | Other*,1,2,3 | 10,997,548 | 2.79% | |||
15,965,731 | 4.06% | |||||
Spain | ||||||
Iberdrola SA | 73,473,638 | 992,920 | 0.25% | |||
† | Other*,1,2,3 | 4,880,276 | 1.24% | |||
5,873,196 | 1.49% | |||||
†Sweden*,1,2,3 | 9,823,273 | 2.50% | ||||
Switzerland | ||||||
Nestle SA (Registered) | 34,938,815 | 4,169,273 | 1.06% | |||
Roche Holding AG | 8,705,545 | 2,839,364 | 0.72% | |||
Novartis AG (Registered) | 26,526,409 | 2,263,668 | 0.58% | |||
Roche Holding AG (Bearer) 1 | 350,294 | 121,800 | 0.03% | |||
† | Other*,1,2,3 | 10,593,781 | 2.69% | |||
19,987,886 | 5.08% | |||||
Taiwan | ||||||
Taiwan Semiconductor Manufacturing Co. Ltd. | 300,864,748 | 6,336,099 | 1.61% | |||
Taiwan Semiconductor Manufacturing Co. Ltd. ADR | 45 | 5 | 0.00% | |||
† | Other*,1,3 | 12,098,423 | 3.08% | |||
18,434,527 | 4.69% | |||||
†Thailand*,1,3 | 2,671,224 | 0.68% |
Shares | Market Value• ($000) |
Percentage of Net Assets | ||||
†Turkey*,2,3 | 522,597 | 0.13% | ||||
†United Arab Emirates*,3 | 719,889 | 0.18% | ||||
United Kingdom | ||||||
Unilever plc | 31,852,782 | 1,861,862 | 0.48% | |||
AstraZeneca plc | 16,451,692 | 1,751,183 | 0.45% | |||
HSBC Holdings plc | 255,409,164 | 1,594,702 | 0.41% | |||
Diageo plc | 28,705,798 | 1,288,644 | 0.33% | |||
GlaxoSmithKline plc | 61,745,728 | 1,141,047 | 0.29% | |||
Rio Tinto plc | 13,596,752 | 1,138,827 | 0.29% | |||
British American Tobacco plc | 28,553,033 | 1,059,413 | 0.27% | |||
BP plc | 248,265,113 | 1,039,325 | 0.26% | |||
Royal Dutch Shell plc Class A | 51,143,781 | 962,335 | 0.25% | |||
Royal Dutch Shell plc Class B | 46,664,641 | 835,002 | 0.21% | |||
† | Other*,1,2,3 | 24,400,502 | 6.19% | |||
37,072,842 | 9.43% | |||||
Total Common Stocks (Cost $302,311,589) | 387,551,427 | 98.56% | ||||
Coupon | ||||||
Temporary Cash Investments | ||||||
Money Market Fund | ||||||
Vanguard Market Liquidity Fund6,7 (Cost $9,878,002) |
0.068% | 98,785,263 | 9,878,526 | 2.51% | ||
Total Investments (Cost $312,189,591) | 397,429,953 | 101.07% | ||||
Other Assets and Liabilities—Net | (4,193,165) | (1.07%) | ||||
Net Assets | 393,236,788 | 100.00% |
Cost is in $000. | |
• | See Note A in Notes to Financial Statements. |
† | Represents the aggregate value, by category, of securities that are not among the 50 largest holdings and, in total for any issuer, represent 1% or less of net assets. |
* | Includes non-income-producing security. |
1 | Includes partial security positions on loan to broker-dealers. The total value of securities on loan is $6,243,182,000. |
2 | Certain securities are exempt from registration under Rule 144A of the Securities Act of 1933. Such securities may be sold in transactions exempt from registration, normally to qualified institutional buyers. At April 30, 2021, the aggregate value of these securities was $10,055,643,000, representing 2.6% of net assets. |
3 | Certain securities value determined using significant unobservable inputs. |
4 | “Other” represents securities that are not classified by the fund’s benchmark index. |
5 | Considered an affiliated company of the fund as the issuer is another member of The Vanguard Group. |
6 | Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by Vanguard. Rate shown is the 7-day yield. |
7 | Collateral of $6,770,873,000 was received for securities on loan, of which $6,766,350,000 is held in Vanguard Market Liquidity Fund and $4,523,000 is held in cash. |
ADR—American Depositary Receipt. |
Futures Contracts | ||||
($000) | ||||
Expiration | Number
of Long (Short) Contracts |
Notional Amount |
Value
and Unrealized Appreciation (Depreciation) | |
Long Futures Contracts | ||||
E-mini S&P 500 Index | June 2021 | 300 | 62,616 | (418) |
Euro Stoxx 50 Index | June 2021 | 31,576 | 1,495,712 | 41,977 |
FTSE 100 Index | June 2021 | 6,880 | 659,175 | 22,732 |
MSCI Emerging Market Index | June 2021 | 16,101 | 1,076,030 | 4,286 |
S&P ASX 200 Index | June 2021 | 3,404 | 459,029 | 14,447 |
S&P TSX 60 Index | June 2021 | 2,752 | 508,420 | 7,187 |
Topix Index | June 2021 | 5,722 | 995,551 | (3,527) |
86,684 |
Forward Currency Contracts | |||||||
Contract Settlement Date |
Contract Amount (000) | Unrealized Appreciation ($000) |
Unrealized (Depreciation) ($000) | ||||
Counterparty | Receive | Deliver | |||||
Bank of America, N.A. | 6/16/21 | AUD | 347,670 | USD | 265,343 | 2,540 | — |
BNP Paribas | 6/16/21 | CAD | 395,523 | USD | 313,032 | 8,784 | — |
Royal Bank of Canada | 6/16/21 | EUR | 651,094 | USD | 771,245 | 12,243 | — |
Bank of America, N.A. | 6/16/21 | GBP | 264,318 | USD | 364,200 | 879 | — |
Royal Bank of Canada | 6/16/21 | INR | 15,759,092 | USD | 212,072 | — | (802) |
Deutsche Bank AG | 6/16/21 | INR | 7,938,791 | USD | 106,884 | — | (454) |
Toronto-Dominion Bank | 6/16/21 | JPY | 67,199,551 | USD | 609,158 | 5,935 | — |
BNP Paribas | 6/16/21 | USD | 301,122 | CHF | 281,746 | — | (7,751) |
UBS AG | 6/16/21 | USD | 45,895 | HKD | 356,437 | 2 | — |
BNP Paribas | 6/16/21 | USD | 140,621 | JPY | 15,494,140 | — | (1,201) |
Forward Currency Contracts (continued) | |||||||
Contract Settlement Date |
Contract Amount (000) | Unrealized Appreciation ($000) |
Unrealized (Depreciation) ($000) | ||||
Counterparty | Receive | Deliver | |||||
Morgan Stanley Capital Services LLC | 6/16/21 | USD | 140,470 | JPY | 15,494,140 | — | (1,351) |
Toronto-Dominion Bank | 6/16/21 | USD | 76,783 | KRW | 87,262,180 | — | (1,666) |
30,383 | (13,225) |
AUD—Australian dollar. |
CAD—Canadian dollar. |
CHF—Swiss franc. |
EUR—euro. |
GBP—British pound. |
HKD—Hong Kong dollar. |
INR—Indian rupee. |
JPY—Japanese Yen. |
KRW—Korean won. |
USD—U.S. dollar. |
Over-the-Counter Total Return Swaps | ||||||
Reference Entity | Termination Date |
Counterparty | Notional Amount ($000) |
Floating Interest Rate Received (Paid)1 (%) |
Value
and Unrealized Appreciation ($000) |
Value
and Unrealized (Depreciation) ($000) |
FTSE China A Stock Connect CNY All Cap Index | 6/22/21 | JPMC | 276,823 | (0.111) | 11,289 | — |
1 | Based on 1M USD London Interbank Offered Rate (LIBOR) as of the most recent payment date. Floating interest payment received/paid monthly. |
1M—1-month. | |
JPMC—JP Morgan Chase Bank. |
($000s, except shares and per-share amounts) | Amount |
Assets | |
Investments in Securities, at Value | |
Unaffiliated Issuers (Cost $301,679,368) | 386,716,497 |
Affiliated Issuers (Cost $10,510,223) | 10,713,456 |
Total Investments in Securities | 397,429,953 |
Investment in Vanguard | 13,848 |
Cash | 4,523 |
Foreign Currency, at Value (Cost $730,971) | 732,145 |
Cash Collateral Pledged—Futures Contracts | 336,320 |
Cash Collateral Pledged—Over-the-Counter Swap Contracts and Forward Currency Contracts | 4,230 |
Receivables for Investment Securities Sold | 171,969 |
Receivables for Accrued Income | 1,617,657 |
Receivables for Capital Shares Issued | 420,515 |
Unrealized Appreciation—Forward Currency Contracts | 30,383 |
Unrealized Appreciation—Over-the-Counter Swap Contracts | 11,289 |
Total Assets | 400,772,832 |
Liabilities | |
Due to Custodian | 58,903 |
Payables for Investment Securities Purchased | 37,191 |
Collateral for Securities on Loan | 6,770,873 |
Payables for Capital Shares Redeemed | 210,604 |
Payables to Vanguard | 20,813 |
Variation Margin Payable—Futures Contracts | 33,403 |
Unrealized Depreciation—Forward Currency Contracts | 13,225 |
Deferred Foreign Capital Gains Taxes | 391,032 |
Total Liabilities | 7,536,044 |
Net Assets | 393,236,788 |
Statement of Assets and Liabilities (continued)
| |
At April 30, 2021, net assets consisted of: | |
($000s, except shares and per-share amounts) | Amount |
Paid-in Capital | 299,170,899 |
Total Distributable Earnings (Loss) | 94,065,889 |
Net Assets | 393,236,788 |
Investor Shares—Net Assets | |
Applicable
to 9,193,887,583 outstanding $.001 par value shares of beneficial interest (unlimited authorization) |
190,168,790 |
Net Asset Value Per Share—Investor Shares | $20.68 |
ETF Shares—Net Assets | |
Applicable
to 702,194,739 outstanding $.001 par value shares of beneficial interest (unlimited authorization) |
45,180,564 |
Net Asset Value Per Share—ETF Shares | $64.34 |
Admiral Shares—Net Assets | |
Applicable
to 2,266,699,230 outstanding $.001 par value shares of beneficial interest (unlimited authorization) |
78,426,432 |
Net Asset Value Per Share—Admiral Shares | $34.60 |
Institutional Shares—Net Assets | |
Applicable
to 294,570,189 outstanding $.001 par value shares of beneficial interest (unlimited authorization) |
40,756,996 |
Net Asset Value Per Share—Institutional Shares | $138.36 |
Institutional Plus Shares—Net Assets | |
Applicable
to 210,638,918 outstanding $.001 par value shares of beneficial interest (unlimited authorization) |
29,152,658 |
Net Asset Value Per Share—Institutional Plus Shares | $138.40 |
Institutional Select Shares—Net Assets | |
Applicable
to 65,518,433 outstanding $.001 par value shares of beneficial interest (unlimited authorization) |
9,551,348 |
Net Asset Value Per Share—Institutional Select Shares | $145.78 |
Six
Months Ended April 30, 2021 | |
($000) | |
Investment Income | |
Income | |
Dividends—Unaffiliated Issuers1 | 4,469,326 |
Dividends—Affiliated Issuers | 5,820 |
Interest—Unaffiliated Issuers | 90 |
Interest—Affiliated Issuers | 996 |
Securities Lending—Net | 49,949 |
Total Income | 4,526,181 |
Expenses | |
The Vanguard Group—Note B | |
Investment Advisory Services | 3,792 |
Management and Administrative—Investor Shares | 139,242 |
Management and Administrative—ETF Shares | 13,340 |
Management and Administrative—Admiral Shares | 35,953 |
Management and Administrative—Institutional Shares | 13,046 |
Management and Administrative—Institutional Plus Shares | 16,593 |
Management and Administrative—Institutional Select Shares | 1,674 |
Marketing and Distribution—Investor Shares | 5,981 |
Marketing and Distribution—ETF Shares | 573 |
Marketing and Distribution—Admiral Shares | 1,479 |
Marketing and Distribution—Institutional Shares | 517 |
Marketing and Distribution—Institutional Plus Shares | 399 |
Marketing and Distribution—Institutional Select Shares | — |
Custodian Fees | 14,665 |
Shareholders’ Reports—Investor Shares | 345 |
Shareholders’ Reports—ETF Shares | 37 |
Shareholders’ Reports—Admiral Shares | 98 |
Shareholders’ Reports—Institutional Shares | 77 |
Shareholders’ Reports—Institutional Plus Shares | 41 |
Shareholders’ Reports—Institutional Select Shares | — |
Trustees’ Fees and Expenses | 35 |
Total Expenses | 247,887 |
Net Investment Income | 4,278,294 |
Realized Net Gain (Loss) | |
Investment Securities Sold—Unaffiliated Issuers2 | 24,188,107 |
Investment Securities Sold—Affiliated Issuers | 368 |
Futures Contracts | 733,452 |
Swap Contracts | 39,871 |
Forward Currency Contracts | 61,241 |
Statement of Operations (continued) | |
Six
Months Ended April 30, 2021 | |
($000) | |
Foreign Currencies | 28,590 |
Realized Net Gain (Loss) | 25,051,629 |
Change in Unrealized Appreciation (Depreciation) | |
Investment Securities—Unaffiliated Issuers3 | 68,195,995 |
Investment Securities—Affiliated Issuers | 144,146 |
Futures Contracts | 278,417 |
Swap Contracts | 1,764 |
Forward Currency Contracts | 30,897 |
Foreign Currencies | 15,593 |
Change in Unrealized Appreciation (Depreciation) | 68,666,812 |
Net Increase (Decrease) in Net Assets Resulting from Operations | 97,996,735 |
1 | Dividends are net of foreign withholding taxes of $327,443,000. |
2 | Includes $24,453,236,000 of the net gain (loss) resulting from in-kind redemptions. |
3 | The change in unrealized appreciation (depreciation) is net of the change in deferred foreign capital gains taxes of $304,281,000. |
Six
Months Ended April 30, 2021 |
Year
Ended October 31, 2020 | ||
($000) | ($000) | ||
Increase (Decrease) in Net Assets | |||
Operations | |||
Net Investment Income | 4,278,294 | 9,703,873 | |
Realized Net Gain (Loss) | 25,051,629 | 4,982,271 | |
Change in Unrealized Appreciation (Depreciation) | 68,666,812 | (18,108,151) | |
Net Increase (Decrease) in Net Assets Resulting from Operations | 97,996,735 | (3,422,007) | |
Distributions | |||
Investor Shares | (2,131,419) | (3,764,242) | |
ETF Shares | (478,416) | (524,950) | |
Admiral Shares | (886,298) | (1,805,972) | |
Institutional Shares | (470,077) | (829,917) | |
Institutional Plus Shares | (808,742) | (2,982,699) | |
Institutional Select Shares | (117,009) | (198,270) | |
Total Distributions | (4,891,961) | (10,106,050) | |
Capital Share Transactions | |||
Investor Shares | (5,819,566) | 11,858,899 | |
ETF Shares | 8,837,507 | 12,954,076 | |
Admiral Shares | (2,573,127) | (8,423,716) | |
Institutional Shares | 612,739 | (331,725) | |
Institutional Plus Shares | (72,108,317) | (32,925,289) | |
Institutional Select Shares | (564,558) | 4,963,364 | |
Net Increase (Decrease) from Capital Share Transactions | (71,615,322) | (11,904,391) | |
Total Increase (Decrease) | 21,489,452 | (25,432,448) | |
Net Assets | |||
Beginning of Period | 371,747,336 | 397,179,784 | |
End of Period | 393,236,788 | 371,747,336 |
Investor Shares | ||||||
For a Share Outstanding Throughout Each Period |
Six Months Ended April 30, 2021 |
Year Ended October 31, | ||||
2020 | 2019 | 2018 | 2017 | 2016 | ||
Net Asset Value, Beginning of Period | $16.39 | $17.13 | $15.91 | $17.91 | $14.88 | $15.11 |
Investment Operations | ||||||
Net Investment Income | .2111 | .3891 | .5241 | .5001 | .4441 | .422 |
Net Realized and Unrealized Gain (Loss) on Investments | 4.309 | (.718) | 1.186 | (2.016) | 3.028 | (.243) |
Total from Investment Operations | 4.520 | (.329) | 1.710 | (1.516) | 3.472 | .179 |
Distributions | ||||||
Dividends from Net Investment Income | (.230) | (.411) | (.490) | (.484) | (.442) | (.409) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (.230) | (.411) | (.490) | (.484) | (.442) | (.409) |
Net Asset Value, End of Period | $20.68 | $16.39 | $17.13 | $15.91 | $17.91 | $14.88 |
Total Return2 | 27.67% | -1.93% | 10.98% | -8.71% | 23.70% | 1.31% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $190,169 | $155,670 | $148,795 | $126,319 | $116,279 | $87,010 |
Ratio of Total Expenses to Average Net Assets | 0.17% | 0.17% | 0.17% | 0.17% | 0.17% | 0.18% |
Ratio of Net Investment Income to Average Net Assets | 2.10% | 2.39% | 3.19% | 2.81% | 2.73% | 2.95% |
Portfolio Turnover Rate3 | 3% | 7% | 4% | 3% | 3% | 3% |
The expense ratio and net investment income ratio for the current period have been annualized. |
1 | Calculated based on average shares outstanding. |
2 | Total returns do not include account service fees that may have applied in the periods shown. Fund prospectuses provide information about any applicable account service fees. |
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. |
ETF Shares | ||||||
For a Share Outstanding Throughout Each Period |
Six Months Ended April 30, 2021 |
Year Ended October 31, | ||||
2020 | 2019 | 2018 | 2017 | 2016 | ||
Net Asset Value, Beginning of Period | $50.97 | $53.30 | $49.50 | $55.70 | $46.28 | $47.00 |
Investment Operations | ||||||
Net Investment Income | .7091 | 1.2511 | 1.6771 | 1.6121 | 1.4201 | 1.344 |
Net Realized and Unrealized Gain (Loss) on Investments | 13.407 | (2.256) | 3.696 | (6.269) | 9.404 | (.763) |
Total from Investment Operations | 14.116 | (1.005) | 5.373 | (4.657) | 10.824 | .581 |
Distributions | ||||||
Dividends from Net Investment Income | (.746) | (1.325) | (1.573) | (1.543) | (1.404) | (1.301) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (.746) | (1.325) | (1.573) | (1.543) | (1.404) | (1.301) |
Net Asset Value, End of Period | $64.34 | $50.97 | $53.30 | $49.50 | $55.70 | $46.28 |
Total Return | 27.81% | -1.88% | 11.11% | -8.63% | 23.76% | 1.39% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $45,181 | $28,294 | $16,293 | $10,389 | $9,670 | $6,377 |
Ratio of Total Expenses to Average Net Assets | 0.08% | 0.08% | 0.08% | 0.09% | 0.11% | 0.11% |
Ratio of Net Investment Income to Average Net Assets | 2.27% | 2.46% | 3.28% | 2.89% | 2.79% | 3.02% |
Portfolio Turnover Rate2 | 3% | 7% | 4% | 3% | 3% | 3% |
The expense ratio and net investment income ratio for the current period have been annualized. |
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. |
Admiral Shares | ||||||
For a Share Outstanding Throughout Each Period |
Six Months Ended April 30, 2021 |
Year Ended October 31, | ||||
2020 | 2019 | 2018 | 2017 | 2016 | ||
Net Asset Value, Beginning of Period | $27.41 | $28.66 | $26.61 | $29.95 | $24.89 | $25.27 |
Investment Operations | ||||||
Net Investment Income | .3651 | .6581 | .8921 | .8581 | .7611 | .722 |
Net Realized and Unrealized Gain (Loss) on Investments | 7.220 | (1.205) | 1.993 | (3.369) | 5.053 | (.400) |
Total from Investment Operations | 7.585 | (.547) | 2.885 | (2.511) | 5.814 | .322 |
Distributions | ||||||
Dividends from Net Investment Income | (.395) | (.703) | (.835) | (.829) | (.754) | (.702) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (.395) | (.703) | (.835) | (.829) | (.754) | (.702) |
Net Asset Value, End of Period | $34.60 | $27.41 | $28.66 | $26.61 | $29.95 | $24.89 |
Total Return2 | 27.77% | -1.92% | 11.08% | -8.63% | 23.73% | 1.40% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $78,426 | $64,452 | $76,314 | $65,363 | $65,249 | $45,154 |
Ratio of Total Expenses to Average Net Assets | 0.11% | 0.11% | 0.11% | 0.11% | 0.11% | 0.11% |
Ratio of Net Investment Income to Average Net Assets | 2.18% | 2.40% | 3.25% | 2.87% | 2.79% | 3.02% |
Portfolio Turnover Rate3 | 3% | 7% | 4% | 3% | 3% | 3% |
The expense ratio and net investment income ratio for the current period have been annualized. |
1 | Calculated based on average shares outstanding. |
2 | Total returns do not include account service fees that may have applied in the periods shown. Fund prospectuses provide information about any applicable account service fees. |
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. |
Institutional Shares | ||||||
For a Share Outstanding Throughout Each Period |
Six Months Ended April 30, 2021 |
Year Ended October 31, | ||||
2020 | 2019 | 2018 | 2017 | 2016 | ||
Net Asset Value, Beginning of Period | $109.61 | $114.61 | $106.43 | $119.77 | $99.52 | $101.07 |
Investment Operations | ||||||
Net Investment Income | 1.4821 | 2.6701 | 3.5971 | 3.4611 | 3.0621 | 2.907 |
Net Realized and Unrealized Gain (Loss) on Investments | 28.869 | (4.826) | 7.960 | (13.460) | 20.229 | (1.632) |
Total from Investment Operations | 30.351 | (2.156) | 11.557 | (9.999) | 23.291 | 1.275 |
Distributions | ||||||
Dividends from Net Investment Income | (1.601) | (2.844) | (3.377) | (3.341) | (3.041) | (2.825) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (1.601) | (2.844) | (3.377) | (3.341) | (3.041) | (2.825) |
Net Asset Value, End of Period | $138.36 | $109.61 | $114.61 | $106.43 | $119.77 | $99.52 |
Total Return | 27.79% | -1.89% | 11.10% | -8.60% | 23.78% | 1.39% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $40,757 | $31,735 | $33,476 | $28,563 | $29,794 | $19,692 |
Ratio of Total Expenses to Average Net Assets | 0.08% | 0.08% | 0.08% | 0.08% | 0.09% | 0.09% |
Ratio of Net Investment Income to Average Net Assets | 2.21% | 2.44% | 3.27% | 2.90% | 2.81% | 3.04% |
Portfolio Turnover Rate2 | 3% | 7% | 4% | 3% | 3% | 3% |
The expense ratio and net investment income ratio for the current period have been annualized. |
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. |
Institutional Plus Shares | ||||||
For a Share Outstanding Throughout Each Period |
Six Months Ended April 30, 2021 |
Year Ended October 31, | ||||
2020 | 2019 | 2018 | 2017 | 2016 | ||
Net Asset Value, Beginning of Period | $109.63 | $114.63 | $106.45 | $119.79 | $99.54 | $101.08 |
Investment Operations | ||||||
Net Investment Income | 1.1391 | 2.7261 | 3.6171 | 3.4701 | 3.0861 | 2.926 |
Net Realized and Unrealized Gain (Loss) on Investments | 29.227 | (4.871) | 7.947 | (13.454) | 20.228 | (1.622) |
Total from Investment Operations | 30.366 | (2.145) | 11.564 | (9.984) | 23.314 | 1.304 |
Distributions | ||||||
Dividends from Net Investment Income | (1.596) | (2.855) | (3.384) | (3.356) | (3.064) | (2.844) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (1.596) | (2.855) | (3.384) | (3.356) | (3.064) | (2.844) |
Net Asset Value, End of Period | $138.40 | $109.63 | $114.63 | $106.45 | $119.79 | $99.54 |
Total Return | 27.80% | -1.88% | 11.10% | -8.58% | 23.80% | 1.42% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $29,153 | $83,550 | $118,865 | $94,242 | $88,781 | $64,511 |
Ratio of Total Expenses to Average Net Assets | 0.07% | 0.07% | 0.07% | 0.07% | 0.07% | 0.07% |
Ratio of Net Investment Income to Average Net Assets | 1.71% | 2.50% | 3.29% | 2.91% | 2.83% | 3.06% |
Portfolio Turnover Rate2 | 3% | 7% | 4% | 3% | 3% | 3% |
The expense ratio and net investment income ratio for the current period have been annualized. |
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. |
Institutional Select Shares | ||||||
For a Share Outstanding Throughout Each Period |
Six Months Ended April 30, 2021 |
Year Ended October 31, | June 24, 20161 to October 31, 2016 | |||
2020 | 2019 | 2018 | 2017 | |||
Net Asset Value, Beginning of Period | $115.49 | $120.75 | $112.10 | $126.15 | $104.82 | $97.20 |
Investment Operations | ||||||
Net Investment Income | 1.5702 | 2.8962 | 3.4212 | 3.6792 | 3.3032 | .914 |
Net Realized and Unrealized Gain (Loss) on Investments | 30.432 | (5.120) | 8.783 | (14.163) | 21.274 | 7.340 |
Total from Investment Operations | 32.002 | (2.224) | 12.204 | (10.484) | 24.577 | 8.254 |
Distributions | ||||||
Dividends from Net Investment Income | (1.712) | (3.036) | (3.554) | (3.566) | (3.247) | (.634) |
Distributions from Realized Capital Gains | — | — | — | — | — | — |
Total Distributions | (1.712) | (3.036) | (3.554) | (3.566) | (3.247) | (.634) |
Net Asset Value, End of Period | $145.78 | $115.49 | $120.75 | $112.10 | $126.15 | $104.82 |
Total Return | 27.81% | -1.85% | 11.13% | -8.56% | 23.83% | 8.48% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $9,551 | $8,045 | $3,437 | $11,470 | $5,863 | $1,599 |
Ratio of Total Expenses to Average Net Assets | 0.045% | 0.045% | 0.045% | 0.045% | 0.045% | 0.045%3 |
Ratio of Net Investment Income to Average Net Assets | 2.22% | 2.52% | 2.98% | 2.93% | 2.85% | 3.09%3 |
Portfolio Turnover Rate4 | 3% | 7% | 4% | 3% | 3% | 3%5 |
The expense ratio and net investment income ratio for the current period have been annualized. |
1 | Inception. |
2 | Calculated based on average shares outstanding. |
3 | Annualized. |
4 | 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. |
5 | Reflects the fund’s portfolio turnover for the fiscal year ended October 31, 2016. |
Level
1 ($000) |
Level
2 ($000) |
Level
3 ($000) |
Total ($000) | |
Investments | ||||
Assets | ||||
Common Stocks—North and South America | 34,319,995 | 855,237 | — | 35,175,232 |
Common Stocks—Other | 6,962,069 | 345,066,843 | 347,283 | 352,376,195 |
Temporary Cash Investments | 9,878,526 | — | — | 9,878,526 |
Total | 51,160,590 | 345,922,080 | 347,283 | 397,429,953 |
Derivative Financial Instruments | ||||
Assets | ||||
Futures Contracts1 | 90,629 | — | — | 90,629 |
Forward Currency Contracts | — | 30,383 | — | 30,383 |
Swap Contracts | — | 11,289 | — | 11,289 |
Total | 90,629 | 41,672 | — | 132,301 |
Liabilities | ||||
Futures Contracts1 | 3,945 | — | — | 3,945 |
Forward Currency Contracts | — | 13,225 | — | 13,225 |
Total | 3,945 | 13,225 | — | 17,170 |
1 | Includes cumulative appreciation (depreciation) on futures contracts and centrally cleared swaps, if any, as reported in the Schedule of Investments. Only current day’s variation margin is reported within the Statement of Assets and Liabilities. |
Statement of Assets and Liabilities | Equity Contracts ($000) |
Foreign Exchange Contracts ($000) |
Total ($000) |
Unrealized Appreciation—Futures Contracts1 | 90,629 | — | 90,629 |
Unrealized Appreciation—Forward Currency Contracts | — | 30,383 | 30,383 |
Unrealized Appreciation—Over-the-Counter Swap Contracts | 11,289 | — | 11,289 |
Total Assets | 101,918 | 30,383 | 132,301 |
Unrealized Depreciation—Futures Contracts1 | 3,945 | — | 3,945 |
Unrealized Depreciation—Forward Currency Contracts | — | 13,225 | 13,225 |
Total Liabilities | 3,945 | 13,225 | 17,170 |
1 | Includes cumulative appreciation (depreciation) on futures contracts and centrally cleared swaps, if any, as reported in the Schedule of Investments. Only current day’s variation margin is reported within the Statement of Assets and Liabilities. |
Realized Net Gain (Loss) on Derivatives | Equity Contracts ($000) |
Foreign Exchange Contracts ($000) |
Total ($000) |
Futures Contracts | 733,452 | — | 733,452 |
Forward Currency Contracts | — | 61,241 | 61,241 |
Swap Contracts | 39,871 | — | 39,871 |
Realized Net Gain (Loss) on Derivatives | 773,323 | 61,241 | 834,564 |
Change in Unrealized Appreciation (Depreciation) on Derivatives | |||
Futures Contracts | 278,417 | — | 278,417 |
Forward Currency Contracts | — | 30,897 | 30,897 |
Swap Contracts | 1,764 | — | 1,764 |
Change in Unrealized Appreciation (Depreciation) on Derivatives | 280,181 | 30,897 | 311,078 |
Amount ($000) | |
Tax Cost | 313,484,080 |
Gross Unrealized Appreciation | 123,455,284 |
Gross Unrealized Depreciation | (39,394,280) |
Net Unrealized Appreciation (Depreciation) | 84,061,004 |
Six Months Ended April 30, 2021 |
Year Ended October 31, 2020 | ||||
Amount ($000) |
Shares (000) |
Amount ($000) |
Shares (000) | ||
Investor Shares | |||||
Issued | 10,566,316 | 517,683 | 22,608,974 | 1,494,035 | |
Issued in Lieu of Cash Distributions | 2,131,419 | 109,885 | 3,764,242 | 227,169 | |
Redeemed1 | (18,517,301) | (933,857) | (14,514,317) | (905,972) | |
Net Increase (Decrease)—Investor Shares | (5,819,566) | (306,289) | 11,858,899 | 815,232 | |
ETF Shares | |||||
Issued | 8,837,507 | 147,119 | 13,007,965 | 250,481 | |
Issued in Lieu of Cash Distributions | — | — | — | — | |
Redeemed | — | — | (53,889) | (1,100) | |
Net Increase (Decrease)—ETF Shares | 8,837,507 | 147,119 | 12,954,076 | 249,381 | |
Admiral Shares | |||||
Issued1 | 7,173,657 | 217,019 | 13,328,313 | 509,348 | |
Issued in Lieu of Cash Distributions | 760,801 | 23,434 | 1,557,343 | 56,065 | |
Redeemed | (10,507,585) | (325,189) | (23,309,372) | (876,912) | |
Net Increase (Decrease)—Admiral Shares | (2,573,127) | (84,736) | (8,423,716) | (311,499) | |
Institutional Shares | |||||
Issued | 5,191,201 | 39,609 | 7,265,482 | 68,597 | |
Issued in Lieu of Cash Distributions | 434,842 | 3,349 | 772,537 | 6,967 | |
Redeemed | (5,013,304) | (37,913) | (8,369,744) | (78,134) | |
Net Increase (Decrease)—Institutional Shares | 612,739 | 5,045 | (331,725) | (2,570) | |
Institutional Plus Shares | |||||
Issued | 4,364,023 | 32,509 | 19,265,758 | 188,833 | |
Issued in Lieu of Cash Distributions | 800,551 | 6,206 | 2,966,518 | 26,848 | |
Redeemed | (77,272,891) | (590,155) | (55,157,565) | (490,546) | |
Net Increase (Decrease)—Institutional Plus Shares | (72,108,317) | (551,440) | (32,925,289) | (274,865) |
Six Months Ended April 30, 2021 |
Year Ended October 31, 2020 | ||||
Amount ($000) |
Shares (000) |
Amount ($000) |
Shares (000) | ||
Institutional Select Shares | |||||
Issued | 545,437 | 3,924 | 8,382,308 | 71,567 | |
Issued in Lieu of Cash Distributions | 117,009 | 855 | 198,270 | 1,705 | |
Redeemed | (1,227,004) | (8,922) | (3,617,214) | (32,070) | |
Net Increase (Decrease)—Institutional Select Shares | (564,558) | (4,143) | 4,963,364 | 41,202 |
1 | In November 2018, the fund announced changes to the availability and minimum investment criteria of the Investor and Admiral share classes. As a result, all of the outstanding Investor Shares automatically converted to Admiral Shares beginning in April 2019, with the exception of those held by Vanguard funds and certain other institutional investors. Investor Shares—Redeemed and Admiral Shares—Issued include 49,000 and 29,000 shares, respectively, in the amount of $846,000 from the conversion during the year ended October 31, 2020. |
Current Period Transactions | ||||||||
Oct.
31, 2020 Market Value ($000) |
Purchases at Cost ($000) |
Proceeds from Securities Sold ($000) |
Realized Net Gain (Loss) ($000) |
Change
in Unrealized App. (Dep.) ($000) |
Income ($000) |
Capital
Gain Distributions Received ($000) |
Apr.
30, 2021 Market Value ($000) | |
Vanguard FTSE Emerging Markets ETF | 690,416 | — | — | — | 144,514 | 5,820 | — | 834,930 |
Vanguard Market Liquidity Fund | 6,578,015 | NA1 | NA1 | 368 | (368) | 996 | — | 9,878,526 |
Total | 7,268,431 | — | — | 368 | 144,146 | 6,816 | — | 10,713,456 |
1 | Not applicable—purchases and sales are for temporary cash investment purposes. |