The portfolio seeks to track the performance of a benchmark index that measures the investment return of large- and mid-capitalization stocks.
The portfolio invests 100% of its assets in Vanguard® FTSE Social Index Fund. The Fund employs a "passive management"—or indexing—investment approach designed to track the performance of the FTSE4Good US Select Index. The index is composed primarily of large- and mid-cap stocks that have been screened for certain social and environmental criteria by the index sponsor, which is independent of Vanguard.The index selects stocks from approximately 700 of the largest public companies in the United States by evaluating each company's performance in the following categories: environmental sustainability, upholding and supporting universal human rights, and developing positive relations with stakeholders. The index includes companies considered to have superior environmental policies, a strong hiring and promotion record for minorities and women, and a safe and healthy workplace. Excluded from the index are companies that are involved with tobacco, alcohol, adult entertainment, firearms, gambling, nuclear power, or violations of fair labor practices and equal opportunity standards. The fund attempts to replicate the index by investing all, or substantially all, of its assets in the stocks that make up the index.
Through its stock fund holding, the portfolio is primarily subject to stock market risk and investment-style risk. The portfolio also has a moderate level of nondiversification risk and a low level of derivatives risk.
**A socially screened index of large- and mid-capitalization U.S. stocks that is provided by the FTSE Group.
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Index performance is provided as a benchmark but is not illustrative of any particular investment. An investment cannot be made in an index.
The performance data shown represents past performance. Past performance - especially short-term past performance - is not a guarantee of future results. Investment returns and principal value will fluctuate, so that investors' units, when sold, may be worth more or less than their original cost. Current performance may be higher or lower than the performance data cited. For performance data current to the most recent quarter-end, click here. "FTSE®" and "FTSE4Good™" are trademarks jointly owned by the London Stock Exchange plc and The Financial Times Limited and are used by FTSE International Limited under license. The FTSE4Good US Select Index is calculated by FTSE International Limited. FTSE International Limited does not sponsor, endorse, or promote the fund; is not in any way connected to it; and does not accept any liability in relation to its issue, operation, and trading.
