Vanguard ETF and mutual funds

The value of investments and the income from them may fall or rise and investors may get back less than they invested.

ETF Shares can be bought and sold only through a broker and cannot be redeemed with the issuing fund. Investing in ETFs entails stockbroker commission and a bid-offer spread which should be considered fully before investing. The market price of ETF Shares may be more or less than net asset value.

Past performance is not a reliable indicator of future results.

Performance figures represent average annual returns. Performance figures include the reinvestment of all dividends and any capital gains distributions. The performance data does not take account of the commissions and costs incurred in the issue and redemption of shares. Basis of fund performance NAV to NAV with gross income reinvested.

Vanguard ETFs will not accept creation or redemption requests on three global holidays or on days when 25% or more of the underlying market capitalisation is closed.