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Taxes

Qualified dividend income—2019 year-end figures

The tables show the percentage of 2019 dividend and net short-term capital gain distributions, by fund and share class, that are eligible for reduced tax rates as "qualified dividend income" (QDI). Equity and balanced funds are likely to distribute QDI to shareholders; money market and bond funds won't distribute QDI.
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QDI-eligible amounts, including any net short-term capital gains, are reported to shareholders in Box 1b of Form 1099-DIV. For those shareholders who don't receive a Form 1099-DIV, QDI-eligible amounts can be determined by applying the relevant percentages from the table to the dividend and net short-term capital gain distributions shown on the shareholder's 2019 year-end account statement.

Note: Because of the unique reporting requirements for Vanguard Real Estate Index Fund, Vanguard has received an extension to mail Form 1099-DIV to shareholders by late February. As a result, QDI information for this fund won't be available until that time.

Fund name QDI figures for dividends QDI figures for short-term capital gains
Vanguard Balanced Index Fund Investor Shares 47.98% 0.00%
Vanguard Balanced Index Fund Admiral™ Shares 47.98% 0.00%
Vanguard Balanced Index Fund Institutional Shares 47.98% 0.00%
Vanguard Value Index Fund Investor Shares 100.00% 0.00%
Vanguard Value Index Fund Admiral Shares 100.00% 0.00%
Vanguard Value Index Fund Institutional Shares 100.00% 0.00%
Vanguard Value ETF 100.00% 0.00%
Vanguard Growth Index Fund Investor Shares 93.20% 0.00%
Vanguard Growth Index Fund Admiral Shares 93.20% 0.00%
Vanguard Growth Index Fund Institutional Shares 93.20% 0.00%
Vanguard Growth ETF 93.20% 0.00%
Vanguard Wellington™ Fund Investor Shares 58.67% 0.00%
Vanguard Wellington Fund Admiral Shares 58.67% 0.00%
Vanguard Windsor™ Fund Investor Shares 100.00% 2.59%
Vanguard Windsor Fund Admiral Shares 100.00% 2.59%
Vanguard U.S. Growth Fund Investor Shares 100.00% 73.43%
Vanguard U.S. Growth Fund Admiral Shares 100.00% 73.43%
Vanguard Explorer™ Fund Investor Shares 100.00% 0.00%
Vanguard Explorer Fund Admiral Shares 100.00% 0.00%
Vanguard Morgan™ Growth Fund Investor Shares 100.00% 0.00%
Vanguard Morgan Growth Fund Admiral Shares 100.00% 0.00%
Vanguard Wellesley® Income Fund Investor Shares 34.77% 0.00%
Vanguard Wellesley Income Fund Admiral Shares 34.77% 0.00%
Vanguard 500 Index Fund Investor Shares 100.00% 0.00%
Vanguard 500 Index Fund Admiral Shares 100.00% 0.00%
Vanguard S&P 500 ETF 100.00% 0.00%
Vanguard 500 Index Fund Institutional Select Shares 100.00% 0.00%
Vanguard International Value Fund Investor Shares 73.94% 0.00%
Vanguard Small-Cap Index Fund Investor Shares 69.37% 0.00%
Vanguard Small-Cap Index Fund Admiral Shares 69.37% 0.00%
Vanguard Small-Cap Index Fund Institutional Shares 69.37% 0.00%
Vanguard Small-Cap ETF 69.37% 0.00%
Vanguard Small-Cap Index Fund Institutional Plus Shares 69.37% 0.00%
Vanguard Energy Fund Investor Shares 98.70% 0.00%
Vanguard Energy Fund Admiral Shares 98.70% 0.00%
Vanguard Health Care Fund Investor Shares 100.00% 35.77%
Vanguard Health Care Fund Admiral Shares 100.00% 35.77%
Vanguard Global Capital Cycles Fund Investor Shares 88.23% 0.00%
Vanguard STAR® Fund Investor Shares 42.06% 12.89%
Vanguard Dividend Growth Fund Investor Shares 100.00% 17.60%
Vanguard PRIMECAP Fund Investor Shares 100.00% 100.00%
Vanguard PRIMECAP Fund Admiral Shares 100.00% 100.00%
Vanguard Equity Income Fund Investor Shares 100.00% 100.00%
Vanguard Equity Income Fund Admiral Shares 100.00% 100.00%
Vanguard Pacific Stock Index Fund Investor Shares 72.30% 0.00%
Vanguard Pacific Stock Index Fund Institutional Shares 72.30% 0.00%
Vanguard Pacific Stock Index Fund Admiral Shares 72.30% 0.00%
Vanguard FTSE Pacific ETF 72.30% 0.00%
Vanguard Pacific Stock Index Fund Institutional Plus Shares 72.30% 0.00%
Vanguard Windsor II Fund Investor Shares 100.00% 0.00%
Vanguard Windsor II Fund Admiral Shares 100.00% 0.00%
Vanguard European Stock Index Fund Investor Shares 82.40% 0.00%
Vanguard European Stock Index Fund Institutional Shares 82.40% 0.00%
Vanguard European Stock Index Fund Admiral Shares 82.40% 0.00%
Vanguard FTSE Europe ETF 82.40% 0.00%
Vanguard European Stock Index Fund Institutional Plus Shares 82.40% 0.00%
Vanguard International Growth Fund Investor Shares 83.92% 0.00%
Vanguard International Growth Fund Admiral Shares 83.92% 0.00%
Vanguard Total Stock Market Index Fund Investor Shares 93.79% 0.00%
Vanguard Total Stock Market Index Fund Admiral Shares 93.79% 0.00%
Vanguard Total Stock Market Index Fund Institutional Shares 93.79% 0.00%
Vanguard Total Stock Market ETF 93.79% 0.00%
Vanguard Total Stock Market Index Fund Institutional Select Shares 93.79% 0.00%
Vanguard Total Stock Market Index Fund Institutional Plus Shares 93.79% 0.00%
Vanguard Growth and Income Fund Investor Shares 100.00% 74.46%
Vanguard Growth and Income Fund Admiral Shares 100.00% 74.46%
Vanguard Institutional Index Fund Institutional Shares 96.61% 0.00%
Vanguard Institutional Index Fund Institutional Plus Shares 96.61% 0.00%
Vanguard Extended Market Index Fund Investor Shares 66.73% 0.00%
Vanguard Extended Market Index Fund Admiral Shares 66.73% 0.00%
Vanguard Extended Market Index Fund Institutional Shares 66.73% 0.00%
Vanguard Extended Market ETF 66.73% 0.00%
Vanguard Extended Market Index Fund Institutional Plus Shares 66.73% 0.00%
Vanguard Extended Market Index Fund Institutional Select Shares 66.73% 0.00%
Vanguard Tax-Managed Capital Appreciation Fund Institutional Shares 100.00% 0.00%
Vanguard Tax-Managed Capital Appreciation Fund Admiral Shares 100.00% 0.00%
Vanguard Tax-Managed Balanced Fund Admiral Shares 97.35% 0.00%
Vanguard Capital Opportunity Fund Investor Shares 100.00% 100.00%
Vanguard Capital Opportunity Fund Admiral Shares 100.00% 100.00%
Vanguard Total International Stock Index Fund Investor Shares 64.86% 0.00%
Vanguard Total International Stock Index Fund Admiral Shares 64.86% 0.00%
Vanguard Total International Stock Index Fund Institutional Shares 64.86% 0.00%
Vanguard Total International Stock Index Fund Institutional Plus Shares 64.86% 0.00%
Vanguard Total International Stock Index Fund Institutional Select Shares 64.86% 0.00%
Vanguard Total International Stock ETF 64.86% 0.00%
Vanguard Strategic Equity Fund Investor Shares 84.25% 0.00%
Vanguard Tax-Managed Small-Cap Fund Admiral Shares 90.04% 0.00%
Vanguard Tax-Managed Small-Cap Fund Institutional Shares 90.04% 0.00%
Vanguard LifeStrategy® Growth Fund Investor Shares 60.00% 0.00%
Vanguard U.S. Value Fund Investor Shares 97.53% 0.00%
Vanguard International Explorer Fund Investor Shares 86.15% 0.00%
Vanguard Developed Markets Index Fund Admiral Shares 76.35% 0.00%
Vanguard Developed Markets Index Fund Institutional Shares 76.35% 0.00%
Vanguard FTSE Developed Markets ETF 76.35% 0.00%
Vanguard Developed Markets Index Fund Investor Shares 76.35% 0.00%
Vanguard Developed Markets Index Fund Institutional Plus Shares 76.35% 0.00%
Vanguard Global Equity Fund Investor Shares 74.90% 0.00%
Vanguard FTSE Social Index Fund Investor Shares 100.00% 0.00%
Vanguard FTSE Social Index Fund Institutional Shares 100.00% 0.00%
Vanguard FTSE Social Index Fund Admiral Shares 100.00% 0.00%
Vanguard Mid-Cap Growth Fund Investor Shares 100.00% 0.00%
Vanguard Target Retirement 2015 Fund Investor Shares 27.67% 0.00%
Vanguard Target Retirement 2025 Fund Investor Shares 44.38% 0.00%
Vanguard Target Retirement 2035 Fund Investor Shares 56.80% 0.00%
Vanguard Target Retirement 2045 Fund Investor Shares 68.47% 0.00%
Vanguard Large-Cap Index Fund Investor Shares 97.15% 0.00%
Vanguard Large-Cap Index Fund Institutional Shares 97.15% 0.00%
Vanguard Large-Cap ETF 97.15% 0.00%
Vanguard Large-Cap Index Fund Admiral Shares 97.15% 0.00%
Vanguard Target Retirement Income Fund Investor Shares 21.91% 0.00%
Vanguard Capital Value Fund Investor Shares 96.91% 0.00%
Vanguard U.S Multifactor Fund Admiral Shares 100.00% 0.00%
Vanguard Emerging Markets Stock Index Fund Institutional Shares 38.41% 0.00%
Vanguard Emerging Markets Stock Index Fund Investor Shares 38.41% 0.00%
Vanguard FTSE Emerging Markets ETF 38.41% 0.00%
Vanguard Emerging Markets Stock Index Fund Institutional Plus Shares 38.41% 0.00%
Vanguard Emerging Markets Stock Index Fund Admiral Shares 38.41% 0.00%
Vanguard Dividend Appreciation Index Fund Investor Shares 100.00% 0.00%
Vanguard Dividend Appreciation ETF 100.00% 0.00%
Vanguard Dividend Appreciation Index Fund Admiral Shares 100.00% 0.00%
Vanguard Diversified Equity Fund Investor Shares 100.00% 100.00%
Vanguard Strategic Small-Cap Equity Fund Investor Shares 81.45% 0.00%
Vanguard High Dividend Yield Index Fund Investor Shares 100.00% 0.00%
Vanguard High Dividend Yield ETF 100.00% 0.00%
Vanguard High Dividend Yield Index Fund Admiral Shares 100.00% 0.00%
Vanguard Total World Stock Index Fund Investor Shares 84.07% 0.00%
Vanguard Total World Stock Index Fund Institutional Shares 84.07% 0.00%
Vanguard Total World Stock ETF 84.07% 0.00%
Vanguard Total World Stock Index Fund Admiral Shares 84.07% 0.00%
Vanguard Market Neutral Fund Investor Shares 56.09% 0.00%
Vanguard Market Neutral Fund Institutional Shares 56.09% 0.00%
Vanguard Target Retirement 2020 Fund Investor Shares 37.60% 0.00%
Vanguard Target Retirement 2030 Fund Investor Shares 50.51% 0.00%
Vanguard Target Retirement 2040 Fund Investor Shares 63.01% 0.00%
Vanguard Target Retirement 2050 Fund Investor Shares 68.45% 0.00%
Vanguard LifeStrategy Income Fund Investor Shares 13.55% 0.00%
Vanguard LifeStrategy Conservative Growth Fund Investor Shares 27.91% 0.00%
Vanguard Global ex-U.S. Real Estate Index Fund Investor Shares 7.63% 0.00%
Vanguard Global ex-U.S. Real Estate Index Fund Admiral Shares 7.63% 0.00%
Vanguard Global ex-U.S. Real Estate Index Fund Institutional Shares 7.63% 0.00%
Vanguard Global ex-U.S. Real Estate ETF 7.63% 0.00%
Vanguard Emerging Markets Select Stock Fund Investor Shares 75.36% 0.00%
Vanguard FTSE All-World ex-US Index Fund Admiral Shares 71.64% 0.00%
Vanguard FTSE All-World ex-US Index Fund Investor Shares 71.64% 0.00%
Vanguard FTSE All-World ex-US Index Fund Institutional Shares 71.64% 0.00%
Vanguard FTSE All-World ex-US ETF 71.64% 0.00%
Vanguard FTSE All-World ex-US Index Fund Institutional Plus Shares 71.64% 0.00%
Vanguard Mega Cap Index Fund Institutional Shares 100.00% 0.00%
Vanguard Mega Cap ETF 100.00% 0.00%
Vanguard Mid-Cap Growth Index Fund Investor Shares 78.44% 0.00%
Vanguard Mid-Cap Growth ETF 78.44% 0.00%
Vanguard Mid-Cap Growth Index Fund Admiral Shares 78.44% 0.00%
Vanguard Mid-Cap Value Index Fund Investor Shares 90.86% 0.00%
Vanguard Mid-Cap Value ETF 90.86% 0.00%
Vanguard Mid-Cap Value Index Fund Admiral Shares 90.86% 0.00%
Vanguard Mega Cap Growth Index Fund Institutional Shares 100.00% 0.00%
Vanguard Mega Cap Growth ETF 100.00% 0.00%
Vanguard Mega Cap Value Index Fund Institutional Shares 100.00% 0.00%
Vanguard Mega Cap Value ETF 100.00% 0.00%
Vanguard Mid-Cap Index Fund Investor Shares 83.19% 0.00%
Vanguard Mid-Cap Index Fund Institutional Shares 83.19% 0.00%
Vanguard Mid-Cap ETF 83.19% 0.00%
Vanguard Mid-Cap Index Fund Institutional Plus Shares 83.19% 0.00%
Vanguard Mid-Cap Index Fund Admiral Shares 83.19% 0.00%
Vanguard Small-Cap Value Index Fund Investor Shares 69.72% 0.00%
Vanguard Small-Cap Value Index Fund Institutional Shares 69.72% 0.00%
Vanguard Small-Cap Value ETF 69.72% 0.00%
Vanguard Small-Cap Value Index Fund Admiral Shares 69.72% 0.00%
Vanguard Small-Cap Growth Index Fund Investor Shares 72.59% 0.00%
Vanguard Small-Cap Growth Index Fund Institutional Shares 72.59% 0.00%
Vanguard Small-Cap Growth ETF 72.59% 0.00%
Vanguard Small-Cap Growth Index Fund Admiral Shares 72.59% 0.00%
Vanguard Institutional Total Stock Market Index Fund Institutional Shares 92.68% 0.00%
Vanguard Institutional Total Stock Market Index Fund Institutional Plus Shares 92.68% 0.00%
Vanguard LifeStrategy Moderate Growth Fund Investor Shares 43.43% 0.00%
Vanguard Selected Value Fund Investor Shares 96.35% 0.00%
Vanguard Global Minimum Volatility Fund Admiral Shares 58.41% 0.00%
Vanguard Global Minimum Volatility Fund Investor Shares 58.41% 0.00%
Vanguard PRIMECAP Core Fund Investor Shares 100.00% 100.00%
Vanguard Alternative Strategies Fund Investor Shares 40.39% 0.00%
Vanguard Target Retirement 2055 Fund Investor Shares 68.43% 0.00%
Vanguard Global Wellesley Income Fund Investor Shares 49.95% 0.00%
Vanguard Global Wellesley Income Fund Admiral Shares 49.95% 0.00%
Vanguard International High Dividend Yield Index Fund Admiral Shares 71.16% 0.00%
Vanguard International High Dividend Yield Index Fund Investor Shares 71.16% 0.00%
Vanguard International High Dividend Yield ETF 71.16% 0.00%
Vanguard Global Wellington Fund Investor Shares 71.71% 0.00%
Vanguard Global Wellington Fund Admiral Shares 71.71% 0.00%
Vanguard Institutional Target Retirement 2015 Fund 28.25% 0.00%
Vanguard Institutional Target Retirement 2020 Fund 38.20% 0.00%
Vanguard Institutional Target Retirement 2025 Fund 45.00% 0.00%
Vanguard Institutional Target Retirement 2030 Fund 51.04% 0.00%
Vanguard Institutional Target Retirement 2035 Fund 57.22% 0.00%
Vanguard Institutional Target Retirement 2040 Fund 63.57% 0.00%
Vanguard Institutional Target Retirement 2045 Fund 69.01% 0.00%
Vanguard Institutional Target Retirement 2050 Fund 69.00% 0.00%
Vanguard Institutional Target Retirement 2055 Fund 68.97% 0.00%
Vanguard Institutional Target Retirement 2060 Fund 68.97% 0.00%
Vanguard Institutional Target Retirement Income Fund 22.29% 0.00%
Vanguard FTSE All-World ex-US Small-Cap Index Fund Institutional Shares 47.17% 0.00%
Vanguard FTSE All-World ex-US Small-Cap Index Fund Investor Shares 47.17% 0.00%
Vanguard FTSE All-World ex-US Small-Cap Index Fund Admiral Shares 47.17% 0.00%
Vanguard FTSE All-World ex-US Small-Cap ETF 47.17% 0.00%
Vanguard Explorer Value Fund Investor Shares 86.42% 0.00%
Vanguard Target Retirement 2060 Fund Investor Shares 68.47% 0.00%
Vanguard Target Retirement 2065 Fund Investor Shares 68.25% 0.00%
Vanguard Institutional Target Retirement 2065 Fund 68.93% 0.00%
Vanguard S&P 500 Value Index Fund Institutional Shares 100.00% 0.00%
Vanguard S&P 500 Value ETF 100.00% 0.00%
Vanguard S&P 500 Growth Index Fund Institutional Shares 100.00% 0.00%
Vanguard S&P 500 Growth ETF 100.00% 0.00%
Vanguard S&P Mid-Cap 400 Index Fund Institutional Shares 83.64% 0.00%
Vanguard S&P Mid-Cap 400 ETF 83.64% 0.00%
Vanguard S&P Mid-Cap 400 Growth Index Fund Institutional Shares 77.15% 0.00%
Vanguard S&P Mid-Cap 400 Growth ETF 77.15% 0.00%
Vanguard S&P Mid-Cap 400 Value Index Fund Institutional Shares 93.11% 0.00%
Vanguard S&P Mid-Cap 400 Value ETF 93.11% 0.00%
Vanguard S&P Small-Cap 600 Index Fund Institutional Shares 72.36% 0.00%
Vanguard S&P Small-Cap 600 ETF 72.36% 0.00%
Vanguard S&P Small-Cap 600 Value Index Fund Institutional Shares 76.55% 0.00%
Vanguard S&P Small-Cap 600 Value ETF 76.55% 0.00%
Vanguard S&P Small-Cap 600 Growth Index Fund Institutional Shares 73.28% 0.00%
Vanguard S&P Small-Cap 600 Growth ETF 73.28% 0.00%
Vanguard Russell 1000 Index Fund Institutional Shares 100.00% 0.00%
Vanguard Russell 1000 ETF 100.00% 0.00%
Vanguard Russell 1000 Value Index Fund Institutional Shares 94.73% 0.00%
Vanguard Russell 1000 Value ETF 94.73% 0.00%
Vanguard Russell 1000 Growth Index Fund Institutional Shares 100.00% 0.00%
Vanguard Russell 1000 Growth ETF 100.00% 0.00%
Vanguard Russell 2000 Index Fund Institutional Shares 72.41% 0.00%
Vanguard Russell 2000 ETF 72.41% 0.00%
Vanguard Russell 2000 Value Index Fund Institutional Shares 72.49% 0.00%
Vanguard Russell 2000 Value ETF 72.49% 0.00%
Vanguard Russell 2000 Growth Index Fund Institutional Shares 74.80% 0.00%
Vanguard Russell 2000 Growth ETF 74.80% 0.00%
Vanguard Russell 3000 Index Fund Institutional Shares 100.00% 0.00%
Vanguard Russell 3000 ETF 100.00% 0.00%
Vanguard International Dividend Appreciation Index Fund Admiral Shares 65.20% 0.00%
Vanguard International Dividend Appreciation Index Fund Investor Shares 65.20% 0.00%
Vanguard International Dividend Appreciation ETF 65.20% 0.00%
Vanguard Global ESG Select Stock Fund Admiral Shares 100.00% 100.00%
Vanguard Global ESG Select Stock Fund Investor Shares 100.00% 100.00%
Vanguard International Core Stock Fund Admiral Shares 100.00% 0.00%
Vanguard International Core Stock Fund Investor Shares 100.00% 0.00%
Vanguard U.S. Value Factor ETF 100.00% 0.00%
Vanguard U.S. Quality Factor ETF 100.00% 0.00%
Vanguard U.S. Momentum Factor ETF 76.50% 0.00%
Vanguard U.S. Minimum Volatility ETF 58.01% 0.00%
Vanguard U.S. Liquidity Factor ETF 84.34% 0.00%
Vanguard U.S. Multifactor ETF 100.00% 0.00%
Vanguard ESG U.S. Stock ETF 96.55% 0.00%
Vanguard ESG International Stock ETF 64.53% 0.00%
Vanguard Energy ETF 100.00% 0.00%
Vanguard Energy Index Fund Admiral Shares 100.00% 0.00%
Vanguard Materials ETF 100.00% 0.00%
Vanguard Materials Index Fund Admiral Shares 100.00% 0.00%
Vanguard Industrials ETF 100.00% 0.00%
Vanguard Industrials Index Fund Admiral Shares 100.00% 0.00%
Vanguard Consumer Discretionary ETF 100.00% 0.00%
Vanguard Consumer Discretionary Index Fund Admiral Shares 100.00% 0.00%
Vanguard Consumer Staples ETF 100.00% 0.00%
Vanguard Consumer Staples Index Fund Admiral Shares 100.00% 0.00%
Vanguard Health Care ETF 100.00% 0.00%
Vanguard Health Care Index Fund Admiral Shares 100.00% 0.00%
Vanguard Financials ETF 96.98% 0.00%
Vanguard Financials Index Fund Admiral Shares 96.98% 0.00%
Vanguard Information Technology ETF 100.00% 0.00%
Vanguard Information Technology Index Fund Admiral Shares 100.00% 0.00%
Vanguard Communications Services ETF 100.00% 0.00%
Vanguard Communications Services Index Fund Admiral Shares 100.00% 0.00%
Vanguard Utilities ETF 100.00% 0.00%
Vanguard Utilities Index Fund Admiral Shares 100.00% 0.00%
Vanguard Real Estate Index Fund Investor Shares 3.59% 0.00%
Vanguard Real Estate Index Fund Admiral Shares 3.59% 0.00%
Vanguard Real Estate Index Fund Institutional Shares 3.59% 0.00%
Vanguard Real Estate ETF 3.59% 0.00%
Vanguard Real Estate II Index Fund Institutional Plus Shares 3.52% 0.00%
Vanguard Managed Payout Fund 37.95% 0.00%

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