Vanguard U.S. Value Factor ETF Shares VFVA Strategy

The investment seeks to provide long-term capital appreciation by investing in stocks with relatively lower share prices relative to fundamental values as determined by the advisor. The fund invests primarily in U.S. common stocks with the potential to generate higher returns relative to the broad U.S. equity market by investing in stocks with relatively lower share prices relative to fundamental values as determined by the advisor. Under normal circumstances, it invests at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in U.S. value stocks.