Fund Facts  

Inception Date: Apr 30, 2007
Ticker Symbol: VFWSX
Morningstar Category:Foreign Large Blend
As of Mar 31, 2016
Fund Net Assets ($millions) $23,233

Documents for Fund or Underlying Fund(s)  

Description

Objective  

The investment seeks to track the performance of a benchmark index that measures the investment return of stocks of companies located in developed and emerging markets outside of the United States.

Principal Investment Strategies  

The fund employs an indexing investment approach designed to track the performance of the FTSE All-World ex US Index, a float-adjusted, market-capitalization-weighted index designed to measure equity market performance of international markets, excluding the United States. The index included 2,394 stocks of companies located in 45 countries, including both developed and emerging markets.

Principal Investment Risks  

There is no guarantee that the Fund will achieve its investment objective. You may lose money by investing in the Fund. Please see the Risk Glossary for additional information about the Fund’s risks.

 

Performance & Expenses

Standard Performance As of Mar 31, 2016
Fund/Benchmark Name QtrYTD1-Yr3-Yr5-Yr10-YrSince Inception
Vngrd FTSE All-World ex-US Idxa-0.29%-0.29%-8.68%0.73%0.59%N/A0.05%
FTSE All-World ex U.S. Indexa,b-0.36%-0.36%-8.28%1.17%0.98%2.76%N/A
Morningstar Foreign Large Blenda,c-1.98%-1.98%-7.99%1.72%1.61%1.57%N/A

Fund past performance, as shown, is no guarantee of how the fund will perform in the future. The performance shown has been annualized for periods greater than one year. Investment returns and principal value will fluctuate, so that an investor's shares, when redeemed, may be worth more or less than their original cost. For current performance, visit www.icmarc.org.

Fund performance is shown comparing it to a "benchmark" which may be a (i) broad-based securities market index (ii) a group of mutual funds with similar investment objectives, or (iii) a short term government backed debt obligation such as a U.S. Treasury Bill. An index is not available for direct investment, is unmanaged, and does not reflect the costs of portfolio management or trading. A fund's portfolio may differ from the securities held in an index.

Annual Fund Operating Expenses
Total expensesa0.11%

 

a. Returns and/or expenses provided by Morningstar, Inc. Copyright © 2016. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. ICMA-RC does not independently verify Morningstar data.

b. The FTSE All-World ex. U.S. Index is comprised of large (83%) and mid (17%) cap stocks providing coverage of Developed and Emerging Markets (47 countries) excluding the U.S. The index is derived from the FTSE Global Equity Index Series (GEIS), which covers 98% of the world's investable market capitalization.

c. The Morningstar Category Average is the equal-weighted average return of all funds per category, as identified by Morningstar, Inc.

Distributions

Dividends and Capital Gains  
Record Date Ex/Payable Date Income/Capital Gains Paid Per Share
Mar 14, 2016Mar 14, 2016$0.295000000
Dec 18, 2015Dec 18, 2015$0.664000000
Sep 24, 2015Sep 24, 2015$0.456000000
Jun 25, 2015Jun 25, 2015$1.101000000
Mar 24, 2015Mar 24, 2015$0.325000000
Dec 19, 2014Dec 19, 2014$0.750000000
Sep 23, 2014Sep 23, 2014$0.533000000
Jun 23, 2014Jun 23, 2014$1.208000000
Mar 24, 2014Mar 24, 2014$0.779000000
Dec 19, 2013Dec 19, 2013$0.770000000
Sep 20, 2013Sep 20, 2013$0.441000000
Jun 21, 2013Jun 21, 2013$1.198000000
Mar 21, 2013Mar 21, 2013$0.277000000
Dec 19, 2012Dec 19, 2012$1.086000000
Sep 21, 2012Sep 21, 2012$1.583000000
Dec 20, 2011Dec 20, 2011$2.740000000
 

Morningstar Information

Morningstar Rating   As of Mar 31, 2016
Period Stars Category Size
Overall 2 Stars712
3-Year 2 Stars712
5-Year 2 Stars624
10-Year N/A N/A

For each fund with at least a three-year history, Morningstar calculates a Morningstar Rating™ based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund's monthly performance (including the effects of sales charges, loads, fee waivers, and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars and the bottom 10% receive 1 star. The Overall Morningstar Rating for a fund is derived from a weighted average of the performance figures associated with its three-, five- and ten-year (if applicable) Morningstar Rating metrics. For funds with loads, the Morningstar rating on a load-waived basis is provided, when available. Load-waived ratings do not include any front- or back-end sales loads and are intended for investors that have access to such purchase terms. Funds with loads are waived for plans administered by ICMA-RC. Past performance is no guarantee of future results.

Morningstar Stylebox As of Mar 31, 2016
Equity Stylebox
Large Blend
Allocation of Assets As of Feb 29, 2016
Type of Asset Percent
Equity97%
Fixed Income0%
Cash/Other3%

Due to rounding, percentages shown may not add up to 100%.

 
 

Characteristics

Allocation of Assets As of Feb 29, 2016
Asset ClassPercent
Domestic Stock0.4%
Foreign Stock96.5%
Domestic Bond0.0%
Foreign Bond0.0%
Preferred0.1%
Convertible0.0%
Cash0.7%
Other2.3%

Due to rounding, percentages shown may not add up to 100%.

 
Equity Sector As of Feb 29, 2016
SectorPercent
Financial Services20.3%
Consumer Cyclical11.3%
Consumer Defensive11.1%
Industrials10.7%
Healthcare9.2%
Technology8.4%
Basic Materials7.4%
Energy5.8%
Communication Services5.4%
Utilities3.4%
Real Estate3.2%

Exposure reflects equity securities only and will sum to the equity exposure of the fund.

 
Top Ten Country Exposure As of Feb 29, 2016
CountryPercent
Japan17.8%
United Kingdom14.0%
France6.8%
Switzerland6.5%
Germany6.2%
Canada5.7%
Australia4.8%
China3.9%
South Korea3.1%
Taiwan2.7%
Top Ten Holdings As of Feb 29, 2016
Holding NamePercent
Nestle SA1.4%
Roche Holding AG Dividend Right Cert.1.2%
Novartis AG1.0%
Toyota Motor Corp0.9%
HSBC Holdings PLC0.8%
British American Tobacco PLC0.6%
Tencent Holdings Ltd0.6%
GlaxoSmithKline PLC0.6%
Novo Nordisk A/S B0.6%
Total SA0.6%
 

Statistics

Portfolio Statistics As of Mar 31, 2016
Statistic3-Year5-Year
Beta0.970.99
Alpha0.410.30
Standard Deviation13.3515.70
 
 

Footnotes

1.

Please read the fund's prospectus carefully for a complete summary of all fees, expenses, investment objectives and strategies, risks, financial highlights, and performance information. Investing involves risk, including possible loss of the amount invested. Investors should carefully consider the information contained in the prospectus before investing. You may contact us to obtain a prospectus or to answer questions by calling 800-669-7400, emailing investorservices@icmarc.org, or visiting www.icmarc.org.

The source for this information is Morningstar, Inc. Copyright © 2016 Morningstar, Inc.® All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Morningstar, Inc. is a global investment research firm that is not affiliated with ICMA-RC. ICMA-RC does not independently verify Morningstar data.

Morningstar places funds in certain categories based on the fund's historical portfolio holdings. Placement of a fund in a particular Morningstar category does not mean that the fund will remain in that category or that it will invest primarily in securities consistent with its Morningstar category. A fund's investment strategy and portfolio holdings are governed by its prospectus, guidelines or other governing documents, not its Morningstar category.