At Vanguard, you come first

When you invest with the only client-owned investment company, the only bottom line that matters is yours. Vanguard is client-owned. As a client-owner, you own the funds that own Vanguard. All investing is subject to risk, including the possible loss of the money you invest. Visit vanguard.com to obtain a fund prospectus, which contains investment objectives, risks, charges, expenses, and other information; read and consider carefully before investing. © 2016 The Vanguard Group, Inc. All rights reserved. Vanguard Marketing Corporation, Distributor.

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