• | 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 February 28, 2023 | |||
Beginning Account Value 8/31/2022 |
Ending Account Value 2/28/2023 |
Expenses Paid During Period | |
Based on Actual Fund Return | |||
Extended Duration Treasury Index Fund | |||
ETF Shares | $1,000.00 | $897.70 | $0.28 |
Institutional Shares | 1,000.00 | 897.90 | 0.28 |
Institutional Plus Shares | 1,000.00 | 897.80 | 0.19 |
Based on Hypothetical 5% Yearly Return | |||
Extended Duration Treasury Index Fund | |||
ETF Shares | $1,000.00 | $1,024.50 | $0.30 |
Institutional Shares | 1,000.00 | 1,024.50 | 0.30 |
Institutional Plus Shares | 1,000.00 | 1,024.60 | 0.20 |
15 - 20 Years | 0.1% |
20 - 25 Years | 52.1 |
25 - 30 Years | 47.8 |
Coupon | Maturity Date |
Face Amount ($000) |
Market Value• ($000) | |||
U.S. Government and Agency Obligations (100.0%) | ||||||
U.S. Government Securities (100.0%) | ||||||
United States Treasury Strip Coupon | 0.000% | 2/15/43 | 6,138 | 2,643 | ||
United States Treasury Strip Coupon | 0.000% | 5/15/43 | 84,381 | 36,007 | ||
United States Treasury Strip Coupon | 0.000% | 8/15/43 | 110,201 | 46,586 | ||
United States Treasury Strip Coupon | 0.000% | 11/15/43 | 110,520 | 46,246 | ||
United States Treasury Strip Coupon | 0.000% | 2/15/44 | 70,447 | 29,164 | ||
United States Treasury Strip Coupon | 0.000% | 5/15/44 | 61,948 | 25,394 | ||
United States Treasury Strip Coupon | 0.000% | 8/15/44 | 111,023 | 44,973 | ||
United States Treasury Strip Coupon | 0.000% | 11/15/44 | 60,001 | 24,113 | ||
United States Treasury Strip Coupon | 0.000% | 2/15/45 | 53,292 | 21,171 | ||
United States Treasury Strip Coupon | 0.000% | 5/15/45 | 102,552 | 40,332 | ||
United States Treasury Strip Coupon | 0.000% | 8/15/45 | 115,595 | 45,028 | ||
United States Treasury Strip Coupon | 0.000% | 11/15/45 | 90,876 | 35,172 | ||
United States Treasury Strip Coupon | 0.000% | 2/15/46 | 56,333 | 21,622 | ||
United States Treasury Strip Coupon | 0.000% | 5/15/46 | 52,218 | 19,884 | ||
United States Treasury Strip Coupon | 0.000% | 8/15/46 | 92,088 | 34,770 | ||
United States Treasury Strip Coupon | 0.000% | 11/15/46 | 87,374 | 32,697 | ||
United States Treasury Strip Coupon | 0.000% | 2/15/47 | 68,808 | 25,502 | ||
United States Treasury Strip Coupon | 0.000% | 5/15/47 | 66,613 | 24,517 | ||
United States Treasury Strip Coupon | 0.000% | 8/15/47 | 82,405 | 30,123 | ||
United States Treasury Strip Coupon | 0.000% | 11/15/47 | 75,021 | 27,189 | ||
United States Treasury Strip Coupon | 0.000% | 2/15/48 | 83,615 | 30,062 | ||
United States Treasury Strip Coupon | 0.000% | 5/15/48 | 75,812 | 27,014 | ||
United States Treasury Strip Coupon | 0.000% | 8/15/48 | 86,704 | 30,760 | ||
United States Treasury Strip Coupon | 0.000% | 11/15/48 | 80,883 | 28,423 | ||
United States Treasury Strip Coupon | 0.000% | 2/15/49 | 62,460 | 21,793 | ||
United States Treasury Strip Coupon | 0.000% | 5/15/49 | 56,224 | 19,525 | ||
United States Treasury Strip Coupon | 0.000% | 8/15/49 | 106,565 | 36,831 | ||
United States Treasury Strip Coupon | 0.000% | 11/15/49 | 110,353 | 38,020 | ||
United States Treasury Strip Coupon | 0.000% | 2/15/50 | 81,917 | 28,114 | ||
United States Treasury Strip Coupon | 0.000% | 5/15/50 | 77,924 | 26,671 | ||
United States Treasury Strip Coupon | 0.000% | 8/15/50 | 135,716 | 46,207 | ||
United States Treasury Strip Coupon | 0.000% | 11/15/50 | 81,075 | 27,496 | ||
United States Treasury Strip Coupon | 0.000% | 2/15/51 | 132,085 | 44,682 | ||
United States Treasury Strip Coupon | 0.000% | 5/15/51 | 91,170 | 30,642 | ||
United States Treasury Strip Coupon | 0.000% | 8/15/51 | 85,321 | 28,569 | ||
United States Treasury Strip Coupon | 0.000% | 11/15/51 | 118,225 | 39,282 | ||
United States Treasury Strip Coupon | 0.000% | 2/15/52 | 83,957 | 27,942 | ||
United States Treasury Strip Coupon | 0.000% | 5/15/52 | 54,243 | 17,959 | ||
United States Treasury Strip Coupon | 0.000% | 8/15/52 | 50,375 | 16,569 |
Coupon | Maturity Date |
Face Amount ($000) |
Market Value• ($000) | |||
United States Treasury Strip Coupon | 0.000% | 11/15/52 | 7,542 | 2,482 | ||
United States Treasury Strip Coupon | 0.000% | 2/15/53 | 1,066 | 347 | ||
United States Treasury Strip Principal | 0.000% | 5/15/43 | 93,047 | 40,657 | ||
United States Treasury Strip Principal | 0.000% | 8/15/43 | 86,232 | 37,524 | ||
United States Treasury Strip Principal | 0.000% | 11/15/43 | 70,021 | 30,153 | ||
United States Treasury Strip Principal | 0.000% | 2/15/44 | 60,381 | 25,657 | ||
United States Treasury Strip Principal | 0.000% | 5/15/44 | 65,359 | 27,435 | ||
United States Treasury Strip Principal | 0.000% | 8/15/44 | 118,568 | 49,160 | ||
United States Treasury Strip Principal | 0.000% | 11/15/44 | 49,218 | 20,218 | ||
United States Treasury Strip Principal | 0.000% | 2/15/45 | 41,837 | 17,003 | ||
United States Treasury Strip Principal | 0.000% | 5/15/45 | 99,730 | 40,188 | ||
United States Treasury Strip Principal | 0.000% | 8/15/45 | 101,057 | 40,296 | ||
United States Treasury Strip Principal | 0.000% | 11/15/45 | 92,332 | 36,543 | ||
United States Treasury Strip Principal | 0.000% | 2/15/46 | 52,283 | 20,537 | ||
United States Treasury Strip Principal | 0.000% | 5/15/46 | 53,084 | 20,703 | ||
United States Treasury Strip Principal | 0.000% | 8/15/46 | 93,466 | 36,130 | ||
United States Treasury Strip Principal | 0.000% | 11/15/46 | 82,532 | 31,736 | ||
United States Treasury Strip Principal | 0.000% | 2/15/47 | 73,564 | 27,983 | ||
United States Treasury Strip Principal | 0.000% | 5/15/47 | 62,374 | 23,580 | ||
United States Treasury Strip Principal | 0.000% | 8/15/47 | 63,371 | 23,809 | ||
United States Treasury Strip Principal | 0.000% | 11/15/47 | 81,360 | 30,389 | ||
United States Treasury Strip Principal | 0.000% | 2/15/48 | 81,401 | 30,176 | ||
United States Treasury Strip Principal | 0.000% | 5/15/48 | 70,111 | 25,853 | ||
United States Treasury Strip Principal | 0.000% | 8/15/48 | 80,918 | 29,636 | ||
United States Treasury Strip Principal | 0.000% | 11/15/48 | 68,879 | 25,141 | ||
United States Treasury Strip Principal | 0.000% | 2/15/49 | 78,313 | 28,407 | ||
United States Treasury Strip Principal | 0.000% | 5/15/49 | 58,013 | 20,948 | ||
United States Treasury Strip Principal | 0.000% | 8/15/49 | 106,405 | 38,048 | ||
United States Treasury Strip Principal | 0.000% | 11/15/49 | 68,386 | 24,352 | ||
United States Treasury Strip Principal | 0.000% | 2/15/50 | 99,998 | 35,335 | ||
United States Treasury Strip Principal | 0.000% | 5/15/50 | 82,705 | 29,044 | ||
United States Treasury Strip Principal | 0.000% | 8/15/50 | 138,210 | 48,125 | ||
United States Treasury Strip Principal | 0.000% | 11/15/50 | 72,350 | 25,034 | ||
United States Treasury Strip Principal | 0.000% | 2/15/51 | 106,300 | 36,541 | ||
United States Treasury Strip Principal | 0.000% | 5/15/51 | 79,705 | 27,162 | ||
United States Treasury Strip Principal | 0.000% | 8/15/51 | 95,750 | 32,607 | ||
United States Treasury Strip Principal | 0.000% | 11/15/51 | 86,352 | 29,198 | ||
United States Treasury Strip Principal | 0.000% | 2/15/52 | 116,856 | 39,293 | ||
United States Treasury Strip Principal | 0.000% | 5/15/52 | 93,931 | 31,438 | ||
United States Treasury Strip Principal | 0.000% | 8/15/52 | 95,050 | 31,522 | ||
United States Treasury Strip Principal | 0.000% | 11/15/52 | 89,648 | 30,074 | ||
United States Treasury Strip Principal | 0.000% | 2/15/53 | 66,088 | 21,840 | ||
Total U.S. Government and Agency Obligations (Cost $3,326,793) | 2,401,998 |
Coupon | Shares | Market Value• ($000) | ||||
Temporary Cash Investments (0.0%) | ||||||
Money Market Fund (0.0%) | ||||||
1 | Vanguard Market Liquidity Fund (Cost $398) |
4.640% | 3,978 | 398 | ||
Total Investments (100.0%) (Cost $3,327,191) | 2,402,396 | |||||
Other Assets and Liabilities—Net (0.0%) | (539) | |||||
Net Assets (100%) | 2,401,857 |
Cost is in $000. |
• | See Note A in Notes to Financial Statements. |
1 | Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by Vanguard. Rate shown is the 7-day yield. |
($000s, except shares, footnotes, and per-share amounts) | Amount |
Assets | |
Investments in Securities, at Value | |
Unaffiliated Issuers (Cost $3,326,793) | 2,401,998 |
Affiliated Issuers (Cost $398) | 398 |
Total Investments in Securities | 2,402,396 |
Investment in Vanguard | 89 |
Receivables for Investment Securities Sold | 66,293 |
Receivables for Accrued Income | 3 |
Total Assets | 2,468,781 |
Liabilities | |
Due to Custodian | 128 |
Payables for Investment Securities Purchased | 66,743 |
Payables for Capital Shares Redeemed | 3 |
Payables to Vanguard | 50 |
Total Liabilities | 66,924 |
Net Assets | 2,401,857 |
At February 28, 2023, net assets consisted of: |
|
Paid-in Capital | 3,541,539 |
Total Distributable Earnings (Loss) | (1,139,682) |
Net Assets | 2,401,857 |
ETF Shares—Net Assets | |
Applicable
to 18,675,000 outstanding $.001 par value shares of beneficial interest (unlimited authorization) |
1,589,258 |
Net Asset Value Per Share—ETF Shares | $85.10 |
Institutional Shares—Net Assets | |
Applicable
to 22,403,768 outstanding $.001 par value shares of beneficial interest (unlimited authorization) |
575,978 |
Net Asset Value Per Share—Institutional Shares | $25.71 |
Institutional Plus Shares—Net Assets | |
Applicable
to 3,666,325 outstanding $.001 par value shares of beneficial interest (unlimited authorization) |
236,621 |
Net Asset Value Per Share—Institutional Plus Shares | $64.54 |
Six
Months Ended February 28, 2023 | |
($000) | |
Investment Income | |
Income | |
Interest1 | 37,388 |
Total Income | 37,388 |
Expenses | |
The Vanguard Group—Note B | |
Investment Advisory Services | 28 |
Management and Administrative—ETF Shares | 311 |
Management and Administrative—Institutional Shares | 147 |
Management and Administrative—Institutional Plus Shares | 42 |
Marketing and Distribution—ETF Shares | 41 |
Marketing and Distribution—Institutional Shares | 10 |
Marketing and Distribution—Institutional Plus Shares | 2 |
Custodian Fees | 3 |
Shareholders’ Reports—ETF Shares | 41 |
Shareholders’ Reports—Institutional Shares | — |
Shareholders’ Reports—Institutional Plus Shares | — |
Trustees’ Fees and Expenses | — |
Other Expenses | 7 |
Total Expenses | 632 |
Expenses Paid Indirectly | (3) |
Net Expenses | 629 |
Net Investment Income | 36,759 |
Realized Net Gain (Loss) on Investment Securities Sold1,2 | (119,402) |
Change in Unrealized Appreciation (Depreciation) of Investment Securities1 | (154,392) |
Net Increase (Decrease) in Net Assets Resulting from Operations | (237,035) |
1 | Interest income, realized net gain (loss), capital gain distributions received, and change in unrealized appreciation (depreciation) from an affiliated company of the fund were $24,000, less than $1,000, less than $1,000, and less than $1,000, respectively. Purchases and sales are for temporary cash investment purposes. |
2 | Includes ($3,870,000) of net gain (loss) resulting from in-kind redemptions. |
Six
Months Ended February 28, 2023 |
Year
Ended August 31, 2022 | ||
($000) | ($000) | ||
Increase (Decrease) in Net Assets | |||
Operations | |||
Net Investment Income | 36,759 | 54,800 | |
Realized Net Gain (Loss) | (119,402) | (64,318) | |
Change in Unrealized Appreciation (Depreciation) | (154,392) | (838,872) | |
Net Increase (Decrease) in Net Assets Resulting from Operations | (237,035) | (848,390) | |
Distributions | |||
ETF Shares | (22,009) | (28,243) | |
Institutional Shares | (8,416) | (15,042) | |
Institutional Plus Shares | (3,794) | (9,537) | |
Total Distributions | (34,219) | (52,822) | |
Capital Share Transactions | |||
ETF Shares | 449,326 | 534,037 | |
Institutional Shares | 21,630 | 83,248 | |
Institutional Plus Shares | 3,794 | (88,387) | |
Net Increase (Decrease) from Capital Share Transactions | 474,750 | 528,898 | |
Total Increase (Decrease) | 203,496 | (372,314) | |
Net Assets | |||
Beginning of Period | 2,198,361 | 2,570,675 | |
End of Period | 2,401,857 | 2,198,361 |
ETF Shares | ||||||
For a Share Outstanding Throughout Each Period |
Six Months Ended February 28, 2023 |
Year Ended August 31, | ||||
2022 | 2021 | 2020 | 2019 | 2018 | ||
Net Asset Value, Beginning of Period | $96.31 | $140.69 | $163.11 | $146.43 | $113.39 | $120.92 |
Investment Operations | ||||||
Net Investment Income1 | 1.450 | 2.769 | 2.795 | 3.146 | 3.347 | 3.353 |
Net Realized and Unrealized Gain (Loss) on Investments2 | (11.286) | (44.418) | (17.061) | 18.113 | 32.972 | (7.272) |
Total from Investment Operations | (9.836) | (41.649) | (14.266) | 21.259 | 36.319 | (3.919) |
Distributions | ||||||
Dividends from Net Investment Income | (1.374) | (2.731) | (2.820) | (3.329) | (3.279) | (3.314) |
Distributions from Realized Capital Gains | — | — | (5.334) | (1.250) | — | (.297) |
Total Distributions | (1.374) | (2.731) | (8.154) | (4.579) | (3.279) | (3.611) |
Net Asset Value, End of Period | $85.10 | $96.31 | $140.69 | $163.11 | $146.43 | $113.39 |
Total Return | -10.23% | -30.00% | -8.94% | 14.98% | 32.92% | -3.24% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $1,589 | $1,312 | $1,277 | $1,810 | $1,333 | $658 |
Ratio of Total Expenses to Average Net Assets | 0.06%3 | 0.06%3 | 0.06% | 0.07% | 0.07% | 0.07% |
Ratio of Net Investment Income to Average Net Assets | 3.38% | 2.33% | 1.93% | 2.06% | 2.87% | 2.93% |
Portfolio Turnover Rate4 | 11% | 15% | 23% | 17% | 20% | 18% |
The expense ratio and net investment income ratio for the current period have been annualized. |
1 | Calculated based on average shares outstanding. |
2 | Includes increases from purchase fees of $.02, $.03, $.07, $.07, $.04, and $.07. |
3 | The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements was 0.06%. |
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. |
Institutional Shares | ||||||
For a Share Outstanding Throughout Each Period |
Six Months Ended February 28, 2023 |
Year Ended August 31, | ||||
2022 | 2021 | 2020 | 2019 | 2018 | ||
Net Asset Value, Beginning of Period | $29.09 | $42.50 | $49.27 | $44.24 | $34.25 | $36.52 |
Investment Operations | ||||||
Net Investment Income1 | .437 | .835 | .842 | .959 | 1.015 | 1.016 |
Net Realized and Unrealized Gain (Loss) on Investments2 | (3.402) | (13.425) | (5.143) | 5.459 | 9.967 | (2.191) |
Total from Investment Operations | (2.965) | (12.590) | (4.301) | 6.418 | 10.982 | (1.175) |
Distributions | ||||||
Dividends from Net Investment Income | (.415) | (.820) | (.857) | (1.010) | (.992) | (1.005) |
Distributions from Realized Capital Gains | — | — | (1.612) | (.378) | — | (.090) |
Total Distributions | (.415) | (.820) | (2.469) | (1.388) | (.992) | (1.095) |
Net Asset Value, End of Period | $25.71 | $29.09 | $42.50 | $49.27 | $44.24 | $34.25 |
Total Return3 | -10.21% | -30.01% | -8.95% | 14.98% | 32.94% | -3.23% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $576 | $623 | $789 | $889 | $862 | $787 |
Ratio of Total Expenses to Average Net Assets | 0.06%4 | 0.06%4 | 0.06% | 0.06% | 0.06% | 0.06% |
Ratio of Net Investment Income to Average Net Assets | 3.37% | 2.29% | 1.96% | 2.10% | 2.88% | 2.94% |
Portfolio Turnover Rate5 | 11% | 15% | 23% | 17% | 20% | 18% |
The expense ratio and net investment income ratio for the current period have been annualized. |
1 | Calculated based on average shares outstanding. |
2 | Includes increases from purchase fees of $.00, $.00, $.02, $.02, $.01, and $.02. |
3 | Total returns do not include transaction fees that may have applied in the periods shown. Fund prospectuses provide information about any applicable transaction fees. |
4 | The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements was 0.06%. |
5 | 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 February 28, 2023 |
Year Ended August 31, | ||||
2022 | 2021 | 2020 | 2019 | 2018 | ||
Net Asset Value, Beginning of Period | $73.04 | $106.68 | $123.70 | $111.06 | $85.99 | $91.68 |
Investment Operations | ||||||
Net Investment Income1 | 1.105 | 2.114 | 2.140 | 2.432 | 2.564 | 2.568 |
Net Realized and Unrealized Gain (Loss) on Investments2 | (8.558) | (33.676) | (12.941) | 13.716 | 25.015 | (5.492) |
Total from Investment Operations | (7.453) | (31.562) | (10.801) | 16.148 | 27.579 | (2.924) |
Distributions | ||||||
Dividends from Net Investment Income | (1.047) | (2.078) | (2.173) | (2.560) | (2.509) | (2.541) |
Distributions from Realized Capital Gains | — | — | (4.046) | (.948) | — | (.225) |
Total Distributions | (1.047) | (2.078) | (6.219) | (3.508) | (2.509) | (2.766) |
Net Asset Value, End of Period | $64.54 | $73.04 | $106.68 | $123.70 | $111.06 | $85.99 |
Total Return3 | -10.22% | -29.98% | -8.95% | 15.02% | 32.95% | -3.20% |
Ratios/Supplemental Data | ||||||
Net Assets, End of Period (Millions) | $237 | $264 | $505 | $689 | $780 | $533 |
Ratio of Total Expenses to Average Net Assets | 0.04%4 | 0.04%4 | 0.04% | 0.04% | 0.04% | 0.04% |
Ratio of Net Investment Income to Average Net Assets | 3.40% | 2.29% | 1.96% | 2.12% | 2.90% | 2.96% |
Portfolio Turnover Rate5 | 11% | 15% | 23% | 17% | 20% | 18% |
The expense ratio and net investment income ratio for the current period have been annualized. |
1 | Calculated based on average shares outstanding. |
2 | Includes increases from purchase fees of $.01, $.02, $.05, $.05, $.03, and $.06. |
3 | Total returns do not include transaction fees that may have applied in the periods shown. Fund prospectuses provide information about any applicable transaction fees. |
4 | The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements was 0.04%. |
5 | 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. |
Level
1 ($000) |
Level
2 ($000) |
Level
3 ($000) |
Total ($000) | |
Investments | ||||
Assets | ||||
U.S. Government and Agency Obligations | — | 2,401,998 | — | 2,401,998 |
Temporary Cash Investments | 398 | — | — | 398 |
Total | 398 | 2,401,998 | — | 2,402,396 |
Amount ($000) | |
Tax Cost | 3,335,935 |
Gross Unrealized Appreciation | 4,534 |
Gross Unrealized Depreciation | (938,073) |
Net Unrealized Appreciation (Depreciation) | (933,539) |
Six Months Ended February 28, 2023 |
Year Ended August 31, 2022 | ||||
Amount ($000) |
Shares (000) |
Amount ($000) |
Shares (000) | ||
ETF Shares | |||||
Issued1 | 599,855 | 6,900 | 1,370,500 | 11,325 | |
Issued in Lieu of Cash Distributions | — | — | — | — | |
Redeemed | (150,529) | (1,850) | (836,463) | (6,775) | |
Net Increase (Decrease)—ETF Shares | 449,326 | 5,050 | 534,037 | 4,550 | |
Institutional Shares | |||||
Issued1 | 91,302 | 3,583 | 131,583 | 4,011 | |
Issued in Lieu of Cash Distributions | 8,181 | 313 | 15,013 | 411 | |
Redeemed | (77,853) | (2,890) | (63,348) | (1,583) | |
Net Increase (Decrease)—Institutional Shares | 21,630 | 1,006 | 83,248 | 2,839 | |
Institutional Plus Shares | |||||
Issued1 | — | — | — | — | |
Issued in Lieu of Cash Distributions | 3,794 | 58 | 9,537 | 103 | |
Redeemed | — | — | (97,924) | (1,231) | |
Net Increase (Decrease)—Institutional Plus Shares | 3,794 | 58 | (88,387) | (1,128) |
1 | Includes purchase fees for fiscal 2023 and 2022 of $400,000 and $535,000, respectively (fund totals). |