Fund Description

The fund was incepted in May 2001 and is managed by The Vanguard Group. The fund seeks to track the performance of a benchmark index that measures the investment return of the overall stock market. The fund strategy based on a ?passive management? or indexing investment approach designed to track the performance of the Wilshire 5000 Total Market Index, which consists of all the U.S. common stocks regularly traded on the New York and American Stock Exchanges and the Nasdaq over-the-counter market. The fund typically invests all, or substantially all, of its assets in the 1,300 largest stocks in its target index (covering nearly 95% of the Index?s total market capitalization) and in a representative sample of the remainder. The fund holds a range of securities that, in the aggregate, approximate the full Index in terms of key characteristics. Dividends are distributed quarterly. Capital gains, if any, are distributed annually.