VANGUARD HIGH DIVIDEND YIELD ETF - USD

The Vanguard High Dividend Yield ETF employs an indexing investment approach designed to track the performance of the FTSEHigh Dividend Yield Index, which consists of common stocks of companies that pay dividends that generally are higher than average. The Fund attempts to replicate the target index by investing all, or substantially all, of its assets in the stocks that make up the Index, holding each stock in approximately the same proportion as its weighting in the Index.