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 * Company information and insights
 * Global sites

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 * Pressroom
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 * Personal investors
 * Retirement plan participants
 * Institutional investors
 * Financial professionals
 * Company information and insights
 * Global sites

AT VANGUARD YOU'RE MORE THAN JUST AN INVESTOR, YOU'RE AN OWNER

Vanguard isn't owned by public shareholders. It's owned by the people who invest
in our funds.*

Our owners have access to personalized financial advice, high-quality
investments, retirement tools, and relevant market insights that help you build
a future for those you love.
The Value of Ownership


ALIGNED INTERESTS

Because our investors are our owners, our interests are uniquely aligned,
allowing us to focus on you and your goals.


GREATER CONVICTION

Because our investors are our owners, we act with conviction on the investment
themes that are important to you.


LONG-TERM PERSPECTIVE

Because our investors are our owners, we can focus on the long term rather than
quarterly results.


LOW COSTS

Because our investors are our owners, it enables us to consistently pass along
economies of scale and lower the cost of investing, so you keep more of your
returns.


BECOME AN
OWNER

OUR COMPANY

 * Company information and insights
   
   INTRODUCES VANGUARD AND FEATURES OUR EXPERT RESEARCH AND COMMENTARY.

 * Pressroom
   
   THE LATEST VANGUARD NEWS, ANNOUNCEMENTS, AND MORE.

 * Career opportunities
   
   INTERESTED IN JOINING US? LEARN MORE ABOUT OUR OPENINGS.

 * Contact Us
   
   FIND THE RIGHT WAY TO GET IN TOUCH WITH US QUICKLY.

 * Vanguard Charitable
   
   LEARN MORE ABOUT OUR CHARITABLE GIVING TO FULFILL YOUR PHILANTHROPIC GOALS.

OUR SITES

 * Personal investors
   
   INVEST ON YOUR OWN, GET PROFESSIONAL ADVICE, OPEN A RETIREMENT ACCOUNT, SAVE
   FOR EDUCATION.

 * Retirement plan participants
   
   FOR INVESTORS USING AN EMPLOYER'S RETIREMENT PLAN.

 * Institutional investors
   
   FOR SPONSORS, CONSULTANTS, AND REPRESENTATIVES.

 * Financial professionals
   
   FOR BROKER-DEALERS, ADVISORS, AND BROKERAGE PROFESSIONALS.

 * Company information and insights
   
   INTRODUCES VANGUARD AND FEATURES OUR EXPERT RESEARCH AND COMMENTARY.

 * Global sites
   
   ACCESS OUR VANGUARD SITES FROM AROUND THE WORLD.


IMPORTANT INFORMATION

All investing is subject to risk including the possible loss of the money you
invest.
*Vanguard is owned by its funds, which are owned by Vanguard's fund shareholder
clients.
The experiences of any Vanguard client may not be representative of the
experience of other Vanguard clients and are not a guarantee of future
investment performance or success.
Advice services are provided by Vanguard Advisers, Inc., a registered investment
advisor, or by Vanguard National Trust Company, a federally chartered,
limited-purpose trust company.

© 1995-2024 The Vanguard Group, Inc. All rights reserved. Vanguard Marketing
Corporation, Distributor of the Vanguard Funds. Your use of this site signifies
that you accept our terms & conditions of use.

 * Privacy Center
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 * Security Center
 * Accessibility
 * Mutual fund prospectuses
 * Exchange-traded fund (ETF) prospectuses
 * Special notice to non-U.S. investors
 * Manage cookies




YOUR PRIVACY




 * YOUR PRIVACY


 * STRICTLY NECESSARY COOKIES


 * PERFORMANCE COOKIES


 * FUNCTIONAL COOKIES


 * TARGETING COOKIES

YOUR PRIVACY

When you visit any website, it may store or retrieve information on your
browser, mostly in the form of cookies. This information might be about you,
your preferences or your device and is mostly used to make the site work as you
expect it to. The information does not usually directly identify you, but it can
give you a more personalized web experience. Because we respect your right to
privacy, you can choose to set some types of cookies to “Off.” However, setting
cookies to “Off” may impact your experience on the site and the services we are
able to offer. Click on the different category headings to find out more and to
change your default settings, where possible. Clearing cookies on your device
will delete your preferences. To learn more, view the Vanguard Privacy Center.

STRICTLY NECESSARY COOKIES

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These cookies are necessary for the website to function and cannot be switched
off in our systems. They are usually only set in response to actions made by you
which amount to a request for services, such as setting your privacy
preferences, logging in or filling in forms. You can set your browser to block
or alert you about these cookies, but some parts of the site will not then work.

PERFORMANCE COOKIES

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These cookies allow us to count visits and traffic sources so we can measure and
improve the performance of our site. They help us to know which pages are the
most and least popular and see how visitors move around the site. All
information these cookies collect is aggregated and therefore anonymous. If you
do not allow these cookies, we will not know when you have visited our site and
will not be able to monitor its performance. To manage Performance cookies on
our website, move the toggle to the right to turn them on or move the toggle to
the left to turn them off. Then be sure to click the “Confirm my choices” button
to save your preferences. If you click the “Accept all cookies” button, all
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FUNCTIONAL COOKIES

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These cookies enable the website to provide enhanced functionality and
personalization. They may be set by us or by third-party providers whose
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some or all of these services may not function properly. To manage Functional
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TARGETING COOKIES

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be used by those companies to build a profile of your interests and show you
relevant advertisements on other sites. They do not store directly personal
information but are based on uniquely identifying your browser and internet
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advertising. To manage Targeting cookies on our website, move the toggle to the
right to turn them on or move the toggle to the left to turn them off. Then be
sure to click the “Confirm my choices” button to save your preferences. If you
click the “Accept all cookies” button, all cookie types will be set to “On.”

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