All investing is subject to risk, including the possible loss of the money you invest. Diversification does not ensure a profit or protect against a loss.
Past performance is not a guarantee of future results.
Bond funds are subject to interest rate risk, which is the chance bond prices overall will decline because of rising interest rates, and credit risk, which is the chance a bond issuer will fail to pay interest and principal in a timely manner or that negative perceptions of the issuer’s ability to make such payments will cause the price of that bond to decline.
For more information about Vanguard funds or Vanguard ETFs®, visit vanguard.com to obtain a prospectus or, if available, a summary prospectus. Investment objectives, risks, charges, expenses, and other important information about a fund are contained in the prospectus; read and consider it carefully before investing.
All ETF products are subject to risk, including the possible loss of the money you invest. Prices of mid- and small-cap ETFs often fluctuate more than those of large-cap ETFs. Investments in securities issued by non-U.S. companies are subject to risks including country/regional risk and currency risk. These risks can be especially high in emerging markets. Sector ETFs are subject to sector risks and nondiversification risks, which may result in performance fluctuations that are more extreme than fluctuations in the overall stock market. Bond ETFs are subject to interest rate, inflation, and credit risk. Diversification does not ensure a profit or protect against a loss.
Advisory services are provided by Vanguard Advisers, Inc. (VAI), a registered investment advisor, or by Vanguard National Trust Company, a federally chartered, limited-purpose trust company.
Certified Financial Planner Board of Standards Inc. owns the certification mark CFP® in the U.S., which it awards to individuals who successfully complete CFP Board's initial and ongoing certification requirements.