News release

Vanguard Developed Markets Index Fund Transitions to New FTSE Index

VALLEY FORGE, PA (December 20, 2015)—Vanguard announced today that the $53 billion Vanguard Developed Markets Index Fund, including its ETF share class (ticker: VEA), will begin tracking a new FTSE transition index as part of a two-phase change to a new target index, the FTSE Developed All Cap ex US Index. The change will be effective with the opening of trading on December 21, 2015.

In the first phase, the fund will track the FTSE Developed All Cap ex US Transition Index, an interim index that will gradually increase exposure to small-capitalization stocks and Canadian securities, while proportionately reducing the weightings of other stocks.

Vanguard will manage the transition over the course of approximately six months to minimize trading costs. To provide transparency to shareholders during the transition, FTSE will supply monthly updates of the transition index’s composition at

At the conclusion of the transition, the fund will begin tracking its destination target index, the FTSE Developed All Cap ex US Index, a broader FTSE benchmark that includes large-, mid-, and small-cap stocks, as well as shares of Canadian companies. Canada will represent approximately 7.4% of the fund’s destination benchmark. Adding small-cap exposure to the fund moves investors closer to market-cap weightings and offers additional diversification. With the addition of Canada, Vanguard Developed Markets Index Fund will be the largest market-cap weighted index fund of its type to offer all-cap exposure to all developed markets outside the U.S.1

The transition is part of the changes to four international equity index funds announced by Vanguard in June 2015.

About Vanguard

Vanguard is one of the world’s largest investment management companies. As of November 30, 2015, Vanguard managed more than $3.4 trillion in global assets. The firm, headquartered in Valley Forge, Pennsylvania, offers more than 300 funds to its more than 20 million investors worldwide. For more information, visit

# # #

1 Bloomberg, as of September 30, 2015.

All asset figures are as of November 30, 2015, unless otherwise noted. Source: Vanguard

For more information on Vanguard funds, visit, or call 800-662-7447 to obtain a prospectus or, if available, a summary prospectus. Visit our website, call 800-662-7447, or contact your broker to obtain a prospectus for Vanguard ETF Shares. Investment objectives, risks, charges, expenses, and other important information are contained in the prospectus; read and consider it carefully before investing.

All investments are subject to risk, including the possible loss of the money you invest. Diversification does not ensure a profit or protect against a loss. Prices of mid- and small-cap stocks often fluctuate more than those of large-company stocks.

Investments in stocks issued by non-U.S. companies are subject to risks including country/regional risk and currency risk. These risks are especially high in emerging markets, in particular, in countries where market controls may impede investment.

Vanguard ETF Shares are not redeemable with the issuing Fund other than in very large aggregations worth millions of dollars. Instead, investors must buy and sell Vanguard ETF Shares in the secondary market and hold those shares in a brokerage account. In doing so, the investor may incur brokerage commissions and may pay more than net asset value when buying and receive less than net asset value when selling.

U.S. Patent Nos. 6,879,964; 7,337,138; 7,720,749; 7,925,573; 8,090,646; and 8,417,623.

Vanguard Marketing Corporation, Distributor.