| |
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
Total Stock Market 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
Total Stock Market Index
(reflects no
deduction for fees, expenses, or taxes) |
- |
|
|
CRSP
US Total Market Index
(reflects no
deduction for fees, expenses, or taxes) |
- |
|
|
Dow
Jones U.S. Total Stock Market Float Adjusted Index
(reflects no
deduction for fees, expenses, or taxes) |
- |
|
|
| |
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
Extended Market 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 |
- |
|
|
Standard
& Poor's Completion Index
(reflects no
deduction for fees, expenses, or taxes) |
- |
|
|
Dow
Jones U.S. Total Stock Market Float Adjusted Index
(reflects no
deduction for fees, expenses, or taxes) |
- |
|
|
| |
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
Large-Cap 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
Large Cap Index
(reflects no
deduction for fees, expenses, or taxes) |
- |
|
|
CRSP
US Large Cap Index
(reflects no
deduction for fees, expenses, or taxes) |
- |
|
|
Dow
Jones U.S. Total Stock Market Float Adjusted Index
(reflects no
deduction for fees, expenses, or taxes) |
- |
|
|
| |
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
Mid-Cap 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
Mid Cap Index
(reflects no
deduction for fees, expenses, or taxes) |
- |
|
|
CRSP
US Mid Cap Index
(reflects no
deduction for fees, expenses, or taxes) |
- |
|
|
Dow
Jones U.S. Total Stock Market Float Adjusted Index
(reflects no
deduction for fees, expenses, or taxes) |
- |
|
|
| |
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
Small-Cap 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
Small Cap Index
(reflects no
deduction for fees, expenses, or taxes) |
- |
|
|
CRSP
US Small Cap Index
(reflects no
deduction for fees, expenses, or taxes) |
- |
|
|
Dow
Jones U.S. Total Stock Market Float Adjusted Index
(reflects no
deduction for fees, expenses, or taxes) |
- |
|
|
| |
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
Value 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
Value Index
(reflects no
deduction for fees, expenses, or taxes) |
- |
|
|
CRSP
US Large Cap Value Index
(reflects no
deduction for fees, expenses, or taxes) |
- |
|
|
Dow
Jones U.S. Total Stock Market Float Adjusted Index
(reflects no
deduction for fees, expenses, or taxes) |
- |
|
|
| |
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
Mid-Cap Value 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
Mid Cap Value Index
(reflects no
deduction for fees, expenses, or taxes) |
- |
|
|
CRSP
US Mid Cap Value Index
(reflects no
deduction for fees, expenses, or taxes) |
- |
|
|
Dow
Jones U.S. Total Stock Market Float Adjusted Index
(reflects no
deduction for fees, expenses, or taxes) |
- |
|
|
| |
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
Small-Cap Value 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
Small Cap Value Index
(reflects no
deduction for fees, expenses, or taxes) |
- |
|
|
CRSP
US Small Cap Value Index
(reflects no
deduction for fees, expenses, or taxes) |
- |
|
|
Dow
Jones U.S. Total Stock Market Float Adjusted Index
(reflects no
deduction for fees, expenses, or taxes) |
- |
|
|
| |
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
Growth 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
Growth Index
(reflects no
deduction for fees, expenses, or taxes) |
- |
|
|
CRSP
US Large Cap Growth Index
(reflects no
deduction for fees, expenses, or taxes) |
- |
|
|
Dow
Jones U.S. Total Stock Market Float Adjusted Index
(reflects no
deduction for fees, expenses, or taxes) |
- |
|
|
| |
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
Mid-Cap Growth 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
Mid Cap Growth Index
(reflects no
deduction for fees, expenses, or taxes) |
- |
|
|
CRSP
US Mid Cap Growth Index
(reflects no
deduction for fees, expenses, or taxes) |
- |
|
|
Dow
Jones U.S. Total Stock Market Float Adjusted Index
(reflects no
deduction for fees, expenses, or taxes) |
- |
|
|
| |
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
Small-Cap Growth 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
Small Cap Growth Index
(reflects no
deduction for fees, expenses, or taxes) |
- |
|
|
CRSP
US Small Cap Growth Index
(reflects no
deduction for fees, expenses, or taxes) |
- |
|
|
Dow
Jones U.S. Total Stock Market Float Adjusted Index
(reflects no
deduction for fees, expenses, or taxes) |
- |
|
|
Vanguard
Fund |
Vanguard
ETF Shares |
Seeks
to Track |
Total
Stock Market Index Fund |
Total
Stock Market ETF |
The
overall stock market |
Extended
Market Index Fund |
Extended
Market ETF |
Mid-
and small-cap stocks |
Large-Cap
Index Fund |
Large-Cap
ETF |
Large-cap
stocks |
Mid-Cap
Index Fund |
Mid-Cap
ETF |
Mid-cap
stocks |
Small-Cap
Index Fund |
Small-Cap
ETF |
Small-cap
stocks |
Value
Index Fund |
Value
ETF |
Large-cap
value stocks |
Mid-Cap
Value Index Fund |
Mid-Cap
Value ETF |
Mid-cap
value stocks |
Small-Cap
Value Index Fund |
Small-Cap
Value ETF |
Small-cap
value stocks |
Growth
Index Fund |
Growth
ETF |
Large-cap
growth stocks |
Mid-Cap
Growth Index Fund |
Mid-Cap
Growth ETF |
Mid-cap
growth stocks |
Small-Cap
Growth Index Fund |
Small-Cap
Growth ETF |
Small-cap
growth stocks |
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.
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 |
Total
Stock Market Index Fund |
$110
billion |
Extended
Market Index Fund |
5.6
billion |
Large-Cap
Index Fund |
147
billion |
Mid-Cap
Index Fund |
23.2
billion |
Small-Cap
Index Fund |
5.3
billion |
Value
Index Fund |
123
billion |
Mid-Cap
Value Index Fund |
22.9
billion |
Small-Cap
Value Index Fund |
5.5
billion |
Growth
Index Fund |
193
billion |
Mid-Cap
Growth Index Fund |
23.8
billion |
Small-Cap
Growth Index Fund |
5.1
billion |
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 |
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
Total Stock Market
Index
Fund |
|
|
|
ETF
Shares |
5/24/2001
(Investor
Shares—4/27/1992) |
970 |
922908769 |
Vanguard
Extended Market
Index
Fund |
|
|
|
ETF
Shares |
12/27/2001
(Investor
Shares—12/21/1987) |
965 |
922908652 |
Vanguard
Large-Cap Index Fund |
|
|
|
ETF
Shares |
1/27/2004
(Investor
Shares—1/30/2004) |
961 |
922908637 |
Vanguard
Mid-Cap Index Fund |
|
|
|
ETF
Shares |
1/26/2004
(Investor
Shares—5/21/1998) |
939 |
922908629 |
Vanguard
Small-Cap Index Fund |
|
|
|
ETF
Shares |
1/26/2004
(Investor
Shares—10/3/1960) |
969 |
922908751 |
Vanguard
Value Index Fund |
|
|
|
ETF
Shares |
1/26/2004
(Investor
Shares—11/2/1992) |
966 |
922908744 |
Vanguard
Mid-Cap Value Index
Fund |
|
|
|
ETF
Shares |
8/17/2006
(Investor
Shares—8/24/2006) |
935 |
922908512 |
Vanguard
Small-Cap Value Index
Fund |
|
|
|
ETF
Shares |
1/26/2004
(Investor
Shares—5/21/1998) |
937 |
922908611 |
Vanguard
Growth Index Fund |
|
|
|
ETF
Shares |
1/26/2004
(Investor
Shares—11/2/1992) |
967 |
922908736 |
Vanguard
Mid-Cap Growth Index
Fund |
|
|
|
ETF
Shares |
8/17/2006
(Investor
Shares—8/24/2006) |
932 |
922908538 |
Vanguard
Small-Cap Growth
Index
Fund |
|
|
|
ETF
Shares |
1/26/2004
(Investor
Shares—5/21/1998) |
938 |
922908595
|
|
Year Ended December
31, | ||||
For a
Share Outstanding Throughout Each Period |
2022 |
2021 |
2020 |
2019 |
2018 |
Net
Asset Value, Beginning of Period |
$241.49 |
$194.61 |
$163.70 |
$127.56 |
$137.06 |
Investment
Operations |
|
|
|
|
|
Net
Investment Income1 |
3.191 |
2.912 |
2.831 |
2.809 |
2.781 |
Capital
Gain Distributions Received |
.0001,2 |
.0001,2 |
— |
— |
— |
Net
Realized and Unrealized Gain (Loss) on
Investments |
(50.248) |
46.898 |
30.848 |
36.236 |
(9.676) |
Total from
Investment Operations |
(47.057) |
49.810 |
33.679 |
39.045 |
(6.895) |
Distributions |
|
|
|
|
|
Dividends
from Net Investment Income |
(3.183) |
(2.930) |
(2.769) |
(2.905) |
(2.605) |
Distributions
from Realized Capital Gains |
— |
— |
— |
— |
— |
Total
Distributions |
(3.183) |
(2.930) |
(2.769) |
(2.905) |
(2.605) |
Net
Asset Value, End of Period |
$191.25 |
$241.49 |
$194.61 |
$163.70 |
$127.56 |
Total
Return |
-19.50% |
25.72% |
20.95% |
30.80% |
-5.13% |
Ratios/Supplemental
Data |
|
|
|
|
|
Net
Assets, End of Period (Millions) |
$261,084 |
$299,088 |
$202,075 |
$138,067 |
$94,809 |
Ratio of
Total Expenses to Average Net Assets |
0.03%3 |
0.03% |
0.03% |
0.03% |
0.03% |
Ratio of
Net Investment Income to Average Net
Assets |
1.55% |
1.31% |
1.73% |
1.89% |
1.97% |
Portfolio
Turnover Rate4 |
3% |
4% |
8% |
4% |
3% |
|
|
1 |
Calculated
based on average shares outstanding. |
2 |
Distribution
was less than $.001 per share. |
3 |
The
ratio of expenses to average net assets for the period net of reduction
from custody fee offset arrangements
was
0.03%. |
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. |
|
Year Ended December
31, | ||||
For a
Share Outstanding Throughout Each Period |
2022 |
2021 |
2020 |
2019 |
2018 |
Net
Asset Value, Beginning of Period |
$182.81 |
$164.43 |
$126.02 |
$99.77 |
$111.72 |
Investment
Operations |
|
|
|
|
|
Net
Investment Income1 |
1.914 |
1.867 |
1.509 |
1.636 |
1.742 |
Net
Realized and Unrealized Gain (Loss) on
Investments |
(50.278) |
18.576 |
38.668 |
26.255 |
(12.036) |
Total from
Investment Operations |
(48.364) |
20.443 |
40.177 |
27.891 |
(10.294) |
Distributions |
|
|
|
|
|
Dividends
from Net Investment Income |
(1.526) |
(2.063) |
(1.767) |
(1.641) |
(1.656) |
Distributions
from Realized Capital Gains |
— |
— |
— |
— |
— |
Total
Distributions |
(1.526) |
(2.063) |
(1.767) |
(1.641) |
(1.656) |
Net
Asset Value, End of Period |
$132.92 |
$182.81 |
$164.43 |
$126.02 |
$99.77 |
Total
Return |
-26.46% |
12.44% |
32.20% |
28.04% |
-9.37% |
Ratios/Supplemental
Data |
|
|
|
|
|
Net
Assets, End of Period (Millions) |
$13,089 |
$17,593 |
$13,761 |
$8,119 |
$6,095 |
Ratio of
Total Expenses to Average Net Assets |
0.06%2 |
0.06% |
0.06% |
0.06% |
0.07% |
Ratio of
Net Investment Income to Average Net
Assets |
1.31% |
1.02% |
1.20% |
1.40% |
1.50% |
Portfolio
Turnover Rate3 |
11% |
19% |
19% |
13% |
10% |
|
|
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
0.06%. |
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. |
|
Year Ended December
31, | ||||
For a
Share Outstanding Throughout Each Period |
2022 |
2021 |
2020 |
2019 |
2018 |
Net
Asset Value, Beginning of Period |
$220.44 |
$175.80 |
$147.88 |
$114.77 |
$122.49 |
Investment
Operations |
|
|
|
|
|
Net
Investment Income1 |
2.905 |
2.646 |
2.594 |
2.581 |
2.572 |
Net
Realized and Unrealized Gain (Loss) on
Investments |
(46.233) |
44.617 |
27.890 |
33.204 |
(7.896) |
Total from
Investment Operations |
(43.328) |
47.263 |
30.484 |
35.785 |
(5.324) |
Distributions |
|
|
|
|
|
Dividends
from Net Investment Income |
(2.892) |
(2.623) |
(2.564) |
(2.675) |
(2.396) |
Distributions
from Realized Capital Gains |
— |
— |
— |
— |
— |
Total
Distributions |
(2.892) |
(2.623) |
(2.564) |
(2.675) |
(2.396) |
Net
Asset Value, End of Period |
$174.22 |
$220.44 |
$175.80 |
$147.88 |
$114.77 |
Total
Return |
-19.68% |
27.02% |
20.99% |
31.39% |
-4.44% |
Ratios/Supplemental
Data |
|
|
|
|
|
Net
Assets, End of Period (Millions) |
$24,137 |
$28,242 |
$21,540 |
$16,270 |
$12,358 |
Ratio of
Total Expenses to Average Net Assets |
0.04%2 |
0.04% |
0.04% |
0.04% |
0.04% |
Ratio of
Net Investment Income to Average Net
Assets |
1.55% |
1.33% |
1.74% |
1.93% |
2.04% |
Portfolio
Turnover Rate3 |
3% |
4% |
3% |
5% |
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
0.04%. |
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. |
|
Year Ended December
31, | ||||
For a
Share Outstanding Throughout Each Period |
2022 |
2021 |
2020 |
2019 |
2018 |
Net
Asset Value, Beginning of Period |
$254.69 |
$207.00 |
$178.14 |
$138.08 |
$154.65 |
Investment
Operations |
|
|
|
|
|
Net
Investment Income1 |
3.302 |
2.741 |
2.772 |
2.663 |
2.535 |
Net
Realized and Unrealized Gain (Loss) on
Investments |
(50.886) |
47.811 |
29.084 |
40.043 |
(16.584) |
Total from
Investment Operations |
(47.584) |
50.552 |
31.856 |
42.706 |
(14.049) |
Distributions |
|
|
|
|
|
Dividends
from Net Investment Income |
(3.266) |
(2.862) |
(2.996) |
(2.646) |
(2.521) |
Distributions
from Realized Capital Gains |
— |
— |
— |
— |
— |
Total
Distributions |
(3.266) |
(2.862) |
(2.996) |
(2.646) |
(2.521) |
Net
Asset Value, End of Period |
$203.84 |
$254.69 |
$207.00 |
$178.14 |
$138.08 |
Total
Return |
-18.68% |
24.52% |
18.22% |
31.04% |
-9.21% |
Ratios/Supplemental
Data |
|
|
|
|
|
Net
Assets, End of Period (Millions) |
$49,861 |
$57,774 |
$41,587 |
$29,014 |
$21,261 |
Ratio of
Total Expenses to Average Net Assets |
0.04%2 |
0.04% |
0.04% |
0.04% |
0.04% |
Ratio of
Net Investment Income to Average Net
Assets |
1.53% |
1.16% |
1.61% |
1.62% |
1.62% |
Portfolio
Turnover Rate3 |
12% |
16% |
26% |
15% |
16% |
|
|
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
0.04%. |
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. |
|
Year Ended December
31, | ||||
For a
Share Outstanding Throughout Each Period |
2022 |
2021 |
2020 |
2019 |
2018 |
Net
Asset Value, Beginning of Period |
$226.15 |
$194.54 |
$165.64 |
$131.94 |
$147.71 |
Investment
Operations |
|
|
|
|
|
Net
Investment Income1 |
2.891 |
2.769 |
2.262 |
2.298 |
2.239 |
Net
Realized and Unrealized Gain (Loss) on
Investments |
(42.700) |
31.637 |
28.863 |
33.707 |
(15.808) |
Total from
Investment Operations |
(39.809) |
34.406 |
31.125 |
36.005 |
(13.569) |
Distributions |
|
|
|
|
|
Dividends
from Net Investment Income |
(2.821) |
(2.796) |
(2.225) |
(2.305) |
(2.201) |
Distributions
from Realized Capital Gains |
— |
— |
— |
— |
— |
Total
Distributions |
(2.821) |
(2.796) |
(2.225) |
(2.305) |
(2.201) |
Net
Asset Value, End of Period |
$183.52 |
$226.15 |
$194.54 |
$165.64 |
$131.94 |
Total
Return |
-17.60% |
17.72% |
19.08% |
27.37% |
-9.30% |
Ratios/Supplemental
Data |
|
|
|
|
|
Net
Assets, End of Period (Millions) |
$40,593 |
$50,187 |
$37,492 |
$27,442 |
$20,914 |
Ratio of
Total Expenses to Average Net Assets |
0.05%2 |
0.05% |
0.05% |
0.05% |
0.05% |
Ratio of
Net Investment Income to Average Net
Assets |
1.49% |
1.25% |
1.47% |
1.49% |
1.46% |
Portfolio
Turnover Rate3 |
14% |
17% |
22% |
16% |
15% |
|
|
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
0.05%. |
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. |
|
Year Ended December
31, | ||||
For a
Share Outstanding Throughout Each Period |
2022 |
2021 |
2020 |
2019 |
2018 |
Net
Asset Value, Beginning of Period |
$147.08 |
$118.98 |
$119.90 |
$97.84 |
$106.14 |
Investment
Operations |
|
|
|
|
|
Net
Investment Income1 |
3.529 |
3.212 |
3.055 |
3.046 |
2.722 |
Net
Realized and Unrealized Gain (Loss) on
Investments |
(6.707) |
28.045 |
(.935) |
22.014 |
(8.352) |
Total from
Investment Operations |
(3.178) |
31.257 |
2.120 |
25.060 |
(5.630) |
Distributions |
|
|
|
|
|
Dividends
from Net Investment Income |
(3.532) |
(3.157) |
(3.040) |
(3.000) |
(2.670) |
Distributions
from Realized Capital Gains |
— |
— |
— |
— |
— |
Total
Distributions |
(3.532) |
(3.157) |
(3.040) |
(3.000) |
(2.670) |
Net
Asset Value, End of Period |
$140.37 |
$147.08 |
$118.98 |
$119.90 |
$97.84 |
Total
Return |
-2.05% |
26.47% |
2.23% |
25.85% |
-5.39% |
Ratios/Supplemental
Data |
|
|
|
|
|
Net
Assets, End of Period (Millions) |
$99,459 |
$92,776 |
$61,580 |
$55,909 |
$41,510 |
Ratio of
Total Expenses to Average Net Assets |
0.04%2 |
0.04% |
0.04% |
0.04% |
0.04% |
Ratio of
Net Investment Income to Average Net
Assets |
2.52% |
2.35% |
2.87% |
2.76% |
2.56% |
Portfolio
Turnover Rate3 |
5% |
9% |
10% |
12% |
8% |
|
|
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
0.04%. |
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. |
|
Year Ended December
31, | ||||
For a
Share Outstanding Throughout Each Period |
2022 |
2021 |
2020 |
2019 |
2018 |
Net
Asset Value, Beginning of Period |
$150.26 |
$118.93 |
$119.27 |
$95.22 |
$111.47 |
Investment
Operations |
|
|
|
|
|
Net
Investment Income1 |
3.091 |
2.744 |
2.7812 |
2.497 |
2.6453 |
Net
Realized and Unrealized Gain (Loss) on
Investments |
(14.996) |
31.258 |
(.310) |
23.996 |
(16.278) |
Total from
Investment Operations |
(11.905) |
34.002 |
2.471 |
26.493 |
(13.633) |
Distributions |
|
|
|
|
|
Dividends
from Net Investment Income |
(3.075) |
(2.672) |
(2.811) |
(2.443) |
(2.617) |
Distributions
from Realized Capital Gains |
— |
— |
— |
— |
— |
Total
Distributions |
(3.075) |
(2.672) |
(2.811) |
(2.443) |
(2.617) |
Net
Asset Value, End of Period |
$135.28 |
$150.26 |
$118.93 |
$119.27 |
$95.22 |
Total
Return |
-7.88% |
28.74% |
2.50% |
27.98% |
-12.41% |
Ratios/Supplemental
Data |
|
|
|
|
|
Net
Assets, End of Period (Millions) |
$15,995 |
$16,086 |
$11,061 |
$10,339 |
$7,898 |
Ratio of
Total Expenses to Average Net Assets |
0.07%4 |
0.07% |
0.07% |
0.07% |
0.07% |
Ratio of
Net Investment Income to Average Net
Assets |
2.22% |
1.96% |
2.69%2 |
2.26% |
2.41%3 |
Portfolio
Turnover Rate5 |
18% |
17% |
39% |
17% |
17% |
|
|
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 $.362 and
0.35%,
respectively, resulting from a special dividend from NortonLifeLock Inc.
in February 2020. |
3 |
Net
investment income per share and the ratio of net investment income to
average net assets include $.282 and
0.26%,
respectively, resulting from a special dividend from Dr Pepper Snapple
Group Inc. in July 2018. |
4 |
The
ratio of expenses to average net assets for the period net of reduction
from custody fee offset arrangements
was
0.07%. |
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. |
|
Year Ended December
31, | ||||
For a
Share Outstanding Throughout Each Period |
2022 |
2021 |
2020 |
2019 |
2018 |
Net
Asset Value, Beginning of Period |
$178.77 |
$142.13 |
$137.05 |
$114.05 |
$132.71 |
Investment
Operations |
|
|
|
|
|
Net
Investment Income1 |
3.273 |
3.131 |
2.584 |
2.840 |
2.720 |
Net
Realized and Unrealized Gain (Loss) on
Investments |
(19.975) |
36.640 |
4.884 |
22.984 |
(18.702) |
Total from
Investment Operations |
(16.702) |
39.771 |
7.468 |
25.824 |
(15.982) |
Distributions |
|
|
|
|
|
Dividends
from Net Investment Income |
(3.228) |
(3.131) |
(2.388) |
(2.824) |
(2.678) |
Distributions
from Realized Capital Gains |
— |
— |
— |
— |
— |
Total
Distributions |
(3.228) |
(3.131) |
(2.388) |
(2.824) |
(2.678) |
Net
Asset Value, End of Period |
$158.84 |
$178.77 |
$142.13 |
$137.05 |
$114.05 |
Total
Return |
-9.29% |
28.07% |
5.82% |
22.76% |
-12.22% |
Ratios/Supplemental
Data |
|
|
|
|
|
Net
Assets, End of Period (Millions) |
$23,786 |
$26,854 |
$17,837 |
$14,808 |
$11,560 |
Ratio of
Total Expenses to Average Net Assets |
0.07%2 |
0.07% |
0.07% |
0.07% |
0.07% |
Ratio of
Net Investment Income to Average Net
Assets |
1.99% |
1.84% |
2.23% |
2.19% |
2.04% |
Portfolio
Turnover Rate3 |
13% |
16% |
26% |
19% |
18% |
|
|
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%. |
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. |
|
Year Ended December
31, | ||||
For a
Share Outstanding Throughout Each Period |
2022 |
2021 |
2020 |
2019 |
2018 |
Net
Asset Value, Beginning of Period |
$320.83 |
$253.44 |
$182.31 |
$134.21 |
$140.55 |
Investment
Operations |
|
|
|
|
|
Net
Investment Income1 |
1.584 |
1.483 |
1.683 |
1.773 |
1.807 |
Net
Realized and Unrealized Gain (Loss) on
Investments |
(107.775) |
67.447 |
71.131 |
48.065 |
(6.373) |
Total from
Investment Operations |
(106.191) |
68.930 |
72.814 |
49.838 |
(4.566) |
Distributions |
|
|
|
|
|
Dividends
from Net Investment Income |
(1.499) |
(1.540) |
(1.684) |
(1.738) |
(1.774) |
Distributions
from Realized Capital Gains |
— |
— |
— |
— |
— |
Total
Distributions |
(1.499) |
(1.540) |
(1.684) |
(1.738) |
(1.774) |
Net
Asset Value, End of Period |
$213.14 |
$320.83 |
$253.44 |
$182.31 |
$134.21 |
Total
Return |
-33.13% |
27.26% |
40.16% |
37.26% |
-3.32% |
Ratios/Supplemental
Data |
|
|
|
|
|
Net
Assets, End of Period (Millions) |
$68,198 |
$90,506 |
$68,474 |
$46,481 |
$32,489 |
Ratio of
Total Expenses to Average Net Assets |
0.04%2 |
0.04% |
0.04% |
0.04% |
0.04% |
Ratio of
Net Investment Income to Average Net
Assets |
0.64% |
0.52% |
0.81% |
1.09% |
1.21% |
Portfolio
Turnover Rate3 |
5% |
8% |
6% |
11% |
11% |
|
|
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
0.04%. |
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. |
|
Year Ended December
31, | ||||
For a
Share Outstanding Throughout Each Period |
2022 |
2021 |
2020 |
2019 |
2018 |
Net
Asset Value, Beginning of Period |
$254.49 |
$212.00 |
$158.76 |
$119.58 |
$127.67 |
Investment
Operations |
|
|
|
|
|
Net
Investment Income1 |
1.405 |
.870 |
1.074 |
1.386 |
1.016 |
Net
Realized and Unrealized Gain (Loss) on
Investments |
(74.767) |
42.479 |
53.347 |
39.040 |
(8.101) |
Total from
Investment Operations |
(73.362) |
43.349 |
54.421 |
40.426 |
(7.085) |
Distributions |
|
|
|
|
|
Dividends
from Net Investment Income |
(1.398) |
(.859) |
(1.181) |
(1.246) |
(1.005) |
Distributions
from Realized Capital Gains |
— |
— |
— |
— |
— |
Total
Distributions |
(1.398) |
(.859) |
(1.181) |
(1.246) |
(1.005) |
Net
Asset Value, End of Period |
$179.73 |
$254.49 |
$212.00 |
$158.76 |
$119.58 |
Total
Return |
-28.84% |
20.47% |
34.46% |
33.86% |
-5.60% |
Ratios/Supplemental
Data |
|
|
|
|
|
Net
Assets, End of Period (Millions) |
$9,313 |
$12,798 |
$10,164 |
$6,995 |
$4,956 |
Ratio of
Total Expenses to Average Net Assets |
0.07%2 |
0.07% |
0.07% |
0.07% |
0.07% |
Ratio of
Net Investment Income to Average Net
Assets |
0.72% |
0.37% |
0.63% |
0.95% |
0.76% |
Portfolio
Turnover Rate3 |
22% |
25% |
22% |
18% |
25% |
|
|
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%. |
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. |
|
Year Ended December
31, | ||||
For a
Share Outstanding Throughout Each Period |
2022 |
2021 |
2020 |
2019 |
2018 |
Net
Asset Value, Beginning of Period |
$281.61 |
$267.36 |
$198.68 |
$150.57 |
$160.81 |
Investment
Operations |
|
|
|
|
|
Net
Investment Income1 |
1.623 |
1.291 |
1.129 |
1.175 |
1.214 |
Net
Realized and Unrealized Gain (Loss) on
Investments |
(81.603) |
13.975 |
68.729 |
48.077 |
(10.263) |
Total from
Investment Operations |
(79.980) |
15.266 |
69.858 |
49.252 |
(9.049) |
Distributions |
|
|
|
|
|
Dividends
from Net Investment Income |
(1.100) |
(1.016) |
(1.178) |
(1.142) |
(1.191) |
Distributions
from Realized Capital Gains |
— |
— |
— |
— |
— |
Total
Distributions |
(1.100) |
(1.016) |
(1.178) |
(1.142) |
(1.191) |
Net
Asset Value, End of Period |
$200.53 |
$281.61 |
$267.36 |
$198.68 |
$150.57 |
Total
Return |
-28.40% |
5.71% |
35.29% |
32.75% |
-5.68% |
Ratios/Supplemental
Data |
|
|
|
|
|
Net
Assets, End of Period (Millions) |
$12,036 |
$16,379 |
$14,436 |
$9,833 |
$7,286 |
Ratio of
Total Expenses to Average Net Assets |
0.07%2 |
0.07% |
0.07% |
0.07% |
0.07% |
Ratio of
Net Investment Income to Average Net
Assets |
0.74% |
0.45% |
0.55% |
0.64% |
0.70% |
Portfolio
Turnover Rate3 |
24% |
29% |
24% |
18% |
22% |
|
|
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%. |
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. |