Vanguard FTSE Social Index Fund Admiral VFTAX Strategy

The investment seeks to track the performance of the FTSE U.S. Choice Index that measures the investment return of large- and mid-capitalization stocks. The index is composed of large- and mid-cap stocks of companies that are screened for certain environmental, social, and corporate governance (ESG) criteria by the index provider. The manager 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. It is non-diversified.