529 Portfolio Vanguard Aggressive Growth Portfolio

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The Vanguard 529 College Savings Plan is a Nevada Trust administered by the office of the Nevada State Treasurer. The Vanguard Group, Inc., serves as the Investment Manager for The Vanguard 529 College Savings Plan and through its affiliate, Vanguard Marketing Corporation, markets and distributes the Plan. Ascensus Broker Dealer Services, LLC, serves as Program Manager and has overall responsibility for the day-to-day operations. The Plan's portfolios, although they invest in Vanguard mutual funds, are not mutual funds. Investment returns are not guaranteed and you could lose money by investing in the Plan.

For more information about The Vanguard 529 College Savings Plan, obtain a Program Description(PDF), which includes investment objectives, risks, charges, expenses, and other information; read and consider it carefully before investing. Vanguard Marketing Corporation, Distributor.

The portfolio’s total return, like stock prices generally, will fluctuate within a wide range, so an investor could lose money over short or even long periods. The portfolio’s underlying fund is also subject to:

• Stock market risk: The chance that an underlying fund may experience sudden, unpredictable declines in value, as well as periods of poor performance, because of a general decline in the stock market. Because stock prices go up and down, the value of the fund’s shares may go up and down.
• Foreign securities risk: Underlying funds that invest in foreign securities are subject to country risk, which is the chance that domestic events, such as political upheaval, financial troubles, or a natural disaster, will weaken a country’s securities markets. They are also subject to currency risk, which is the chance that investments in a particular country will decrease in value if the U.S. dollar rises in value against that country’s currency. Finally, there exists investment style risk, which is the chance that returns from foreign stocks will trail returns from U.S. stocks.
• Derivatives risk: Each of the underlying funds in which the portfolio invests may, to a limited extent, invest in derivatives, which may involve risks different from, and possibly greater than, those of traditional investments. To help stay fully invested, and to reduce transaction costs, the funds may invest in stock futures and options contracts, warrants, convertible securities, and swap agreements, which are types of derivatives. The underlying funds will not use derivatives for speculative purposes or as leveraged investments that magnify gains or losses.
• Index sampling risk: This is the chance that the securities owned by an underlying fund that uses the sampling method of indexing will not provide investment performance matching that of the fund’s target index.