Fund Facts  

Inception Date: Dec 2, 2003
CUSIP: 921908869
Ticker Symbol: VGSNX
Morningstar Category:Real Estate
As of Dec 31, 2017
Fund Net Assets ($millions) $64,179

Documents for Fund or Underlying Fund(s)  



The investment seeks to provide a high level of income and moderate long-term capital appreciation by tracking the performance of a benchmark index that measures the performance of publicly traded equity REITs.

Principal Investment Strategies  

The fund employs an indexing investment approach designed to track the performance of the MSCI US REIT Index. The index is composed of stocks of publicly traded equity real estate investment trusts. The adviser attempts to replicate the 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. The fund is non-diversified.

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 Fund’s prospectus or other disclosure documents for information about the Fund’s risks.


Performance & Expenses

Standard Performance As of Dec 31, 2017
Fund/Benchmark Name QtrYTD1-Yr3-Yr5-Yr10-YrSince Inception
Vanguard Real Estate Index Insa1.39%4.93%4.93%5.26%9.26%7.67%9.40%
MSCI US REIT Index (Gross)a,b1.41%5.07%5.07%5.37%9.34%7.44%N/A
Morningstar Real Estatea,c2.09%6.22%6.22%5.14%8.68%6.76%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

Fund Expensesa
Gross Expenses0.10%
Net Expenses0.10%


a. Certain information including, but not limited to, benchmark performance or other performance and/or fee information, is provided by Morningstar, Inc., © 2017 All rights reserved. This information: (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 and/or its content providers are responsible for any damages or losses arising from any use of information. Morningstar is a registered trademark of Morningstar, Inc.

b. The MSCI US REIT Index reflects the aggregate common stock performance of REIT's (Real Estate Investment Trusts) that own, develop, and manage properties.

c. The Morningstar category represents the average return for a category of funds with similar investment objectives and strategies. The average is calculated and funds are assigned to a category by Morningstar.


Dividends and Capital Gains  
Record Date Ex/Payable Date Income/Capital Gains Paid Per Share
Dec 20, 2017Dec 20, 2017$0.278100000
Sep 21, 2017Sep 21, 2017$0.188000000
Jun 22, 2017Jun 22, 2017$0.177000000
Mar 21, 2017Mar 21, 2017$0.131000000
Dec 21, 2016Dec 21, 2016$0.373000000
Sep 12, 2016Sep 12, 2016$0.132000000
Jun 20, 2016Jun 20, 2016$0.169000000
Mar 18, 2016Mar 18, 2016$0.201000000
Dec 22, 2015Dec 22, 2015$0.242000000
Sep 22, 2015Sep 22, 2015$0.165000000
Jun 25, 2015Jun 25, 2015$0.168000000
Mar 24, 2015Mar 24, 2015$0.114000000
Dec 19, 2014Dec 19, 2014$0.242000000
Sep 23, 2014Sep 23, 2014$0.148000000
Jun 23, 2014Jun 23, 2014$0.153000000
Mar 24, 2014Mar 24, 2014$0.101000000
Dec 23, 2013Dec 23, 2013$0.221000000
Sep 20, 2013Sep 20, 2013$0.137000000

Morningstar Information

Morningstar RatingTM   As of Dec 31, 2017
Period Stars Category Size
Overall 4 Stars230
3-Year 3 Stars230
5-Year 4 Stars203
10-Year 4 Stars141

The Morningstar Rating™ for funds, or “star rating”, is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange–traded funds, closed–end funds, and separate accounts) with at least a three–year history. Exchange–traded funds and open–ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk–Adjusted Return measure that accounts for variation in a managed product′s monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product 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 managed product is derived from a weighted average of the performance figures associated with its three–, five–, and 10–year (if applicable) Morningstar Rating metrics. The weights are: 100% three–year rating for 36–59 months of total returns, 60% five–year rating⁄40% three–year rating for 60–119 months of total returns, and 50% 10–year rating⁄30% five–year rating⁄20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods.

Allocation of Assets As of Nov 30, 2017
Type of Asset Percent
Fixed Income0%

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



Allocation of Assets As of Nov 30, 2017
Asset ClassPercent
Domestic Stock99.6%
Foreign Stock0.0%
Domestic Bond0.0%
Foreign Bond0.0%

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

Top Ten Holdings As of Nov 30, 2017
Holding NamePercent
Vanguard REIT II Index9.9%
Simon Property Group Inc5.2%
Equinix Inc3.8%
Prologis Inc3.7%
Public Storage3.5%
AvalonBay Communities Inc2.6%
Welltower Inc2.6%
Equity Residential2.6%
Digital Realty Trust Inc2.5%
Ventas Inc2.4%


Portfolio Statistics As of Dec 31, 2017
Standard Deviation13.4713.70



Please read the fund's prospectus or disclosure materials 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 or disclosure materials before investing. To request a prospectus or disclosure materials, you may contact us by calling 800-669-7400, emailing, or visiting


Effective February 2, 2018, the Vanguard REIT Index Fund is now known as the Vanguard Real Estate Index Fund.

The source for this information is Morningstar, Inc. Copyright © 2017 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.