| |
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 |
Since
Fund
Inception |
Fund
Inception
Date |
Vanguard
International Dividend
Appreciation
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 |
|
|
|
|
Spliced
S&P Global Ex-U.S. Dividend
Growers
Index
(reflects no
deduction for fees or expenses) |
% |
% |
% |
|
S&P
Global Ex-U.S. Dividend Growers
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 International Dividend Appreciation Index
Fund ETF
Shares’ expense ratio would be 0.15%, or $1.50 per $1,000 of
average
net assets. The average expense ratio for international large-cap
core funds
in 2022 was 0.98%, or $9.80 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 Derivatives |
Derivatives
can take many forms. Some forms of derivatives—such as
exchange-traded
futures and options on securities, commodities, or
indexes—have
been trading on regulated exchanges for decades. These
types
of derivatives are standardized contracts that can easily be bought and
sold
and whose market values are determined and published daily. On the
other
hand, non-exchange-traded derivatives—such as certain swap
agreements
and foreign currency exchange forward contracts—tend to be
more
specialized or complex and may be more difficult to accurately
value. |
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
International Dividend Appreciation
Index
Fund |
|
|
|
ETF
Shares |
2/25/2016 |
4415 |
921946810 |
|
|
|
|
|
|
For a
Share Outstanding
Throughout
Each Period |
Year Ended October
31, | ||||
2023 |
2022 |
2021 |
2020 |
2019 | |
Net
Asset Value, Beginning of Period |
$64.12 |
$89.86 |
$69.97 |
$68.72 |
$58.65 |
Investment
Operations |
|
|
|
|
|
Net
Investment Income1 |
1.476 |
1.401 |
1.094 |
.958 |
1.4522 |
Net
Realized and Unrealized Gain (Loss) on Investments3 |
5.579 |
(20.753) |
19.776 |
1.551 |
9.578 |
Total from
Investment Operations |
7.055 |
(19.352) |
20.870 |
2.509 |
11.030 |
Distributions |
|
|
|
|
|
Dividends
from Net Investment Income |
(1.595) |
(1.206) |
(.980) |
(1.259) |
(.960) |
Distributions
from Realized Capital Gains |
— |
(5.182) |
— |
— |
— |
Total
Distributions |
(1.595) |
(6.388) |
(.980) |
(1.259) |
(.960) |
Net
Asset Value, End of Period |
$69.58 |
$64.12 |
$89.86 |
$69.97 |
$68.72 |
Total
Return |
10.94% |
-22.90% |
29.93% |
3.73% |
18.96% |
Ratios/Supplemental
Data |
|
|
|
|
|
Net
Assets, End of Period (Millions) |
$5,065 |
$3,508 |
$4,150 |
$2,456 |
$1,305 |
Ratio of
Total Expenses to Average Net Assets |
0.15%4 |
0.15%4 |
0.15% |
0.20% |
0.20% |
Ratio of
Net Investment Income to Average Net Assets |
2.02% |
1.87% |
1.28% |
1.40% |
2.24%2 |
Portfolio
Turnover Rate5 |
14% |
22% |
65% |
17% |
42% |
|
|
1 |
Calculated
based on average shares outstanding. |
2 |
Net
investment income per share and the ratio of net investment income to
average net
assets
include $.388 and 0.65%, respectively, resulting from a special dividend
from Naspers
Ltd. in
September 2019. |
3 |
Includes
increases from purchase and redemption fees of $.00, $.00, $.00, $.01, and
$.02. |
4 |
The ratio of
expenses to average net assets for the period net of reduction from
custody fee
offset
arrangements were 0.15%. |
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. |