0000932471-13-000016.txt : 20130103 0000932471-13-000016.hdr.sgml : 20130103 20130103085649 ACCESSION NUMBER: 0000932471-13-000016 CONFORMED SUBMISSION TYPE: 485BPOS PUBLIC DOCUMENT COUNT: 7 FILED AS OF DATE: 20130103 DATE AS OF CHANGE: 20130103 EFFECTIVENESS DATE: 20130103 FILER: COMPANY DATA: COMPANY CONFORMED NAME: VANGUARD SCOTTSDALE FUNDS CENTRAL INDEX KEY: 0001021882 IRS NUMBER: 232439140 STATE OF INCORPORATION: DE FISCAL YEAR END: 0831 FILING VALUES: FORM TYPE: 485BPOS SEC ACT: 1933 Act SEC FILE NUMBER: 333-11763 FILM NUMBER: 13504217 BUSINESS ADDRESS: STREET 1: PO BOX 2600 STREET 2: V26 CITY: VALLEY FORGE STATE: PA ZIP: 19482 BUSINESS PHONE: 6106691000 MAIL ADDRESS: STREET 1: PO BOX 2600 STREET 2: V26 CITY: VALLEY FORGE STATE: PA ZIP: 19482 FORMER COMPANY: FORMER CONFORMED NAME: VANGUARD TREASURY FUND DATE OF NAME CHANGE: 19960829 FILER: COMPANY DATA: COMPANY CONFORMED NAME: VANGUARD SCOTTSDALE FUNDS CENTRAL INDEX KEY: 0001021882 IRS NUMBER: 232439140 STATE OF INCORPORATION: DE FISCAL YEAR END: 0831 FILING VALUES: FORM TYPE: 485BPOS SEC ACT: 1940 Act SEC FILE NUMBER: 811-07803 FILM NUMBER: 13504218 BUSINESS ADDRESS: STREET 1: PO BOX 2600 STREET 2: V26 CITY: VALLEY FORGE STATE: PA ZIP: 19482 BUSINESS PHONE: 6106691000 MAIL ADDRESS: STREET 1: PO BOX 2600 STREET 2: V26 CITY: VALLEY FORGE STATE: PA ZIP: 19482 FORMER COMPANY: FORMER CONFORMED NAME: VANGUARD TREASURY FUND DATE OF NAME CHANGE: 19960829 0001021882 S000026859 Vanguard Short-Term Government Bond Index Fund C000080841 Signal Shares VSBSX C000080842 Institutional Shares VSBIX C000080843 ETF Shares VGSH 0001021882 S000026860 Vanguard Intermediate-Term Government Bond Index Fund C000080844 Signal Shares VSIGX C000080845 Institutional Shares VIIGX C000080846 ETF Shares VGIT 0001021882 S000026861 Vanguard Long-Term Government Bond Index Fund C000080847 Signal Shares VLGSX C000080848 Institutional Shares VLGIX C000080849 ETF Shares VGLT 0001021882 S000026862 Vanguard Short-Term Corporate Bond Index Fund C000080850 Signal Shares VSCSX C000080851 Institutional Shares VSTBX C000080852 ETF Shares VCSH 0001021882 S000026863 Vanguard Intermediate-Term Corporate Bond Index Fund C000080853 Signal Shares VICSX C000080854 Institutional Shares VICBX C000080855 ETF Shares VCIT 0001021882 S000026864 Vanguard Long-Term Corporate Bond Index Fund C000080856 Signal Shares VLTCX C000080857 Institutional Shares VLCIX C000080858 ETF Shares VCLT 0001021882 S000026865 Vanguard Mortgage-Backed Securities Index Fund C000080859 Signal Shares VMBSX C000080860 Institutional Shares VMBIX C000080861 ETF Shares VMBS 0001021882 S000028087 Vanguard Explorer Value Fund C000085513 Investor Shares VEVFX 0001021882 S000030000 Vanguard Russell 1000 Index Fund C000092009 Institutional Shares VRIIX C000092010 ETF Shares VONE 0001021882 S000030001 Vanguard Russell 1000 Value Index Fund C000092011 Institutional Shares VRVIX C000092012 ETF Shares VONV 0001021882 S000030002 Vanguard Russell 1000 Growth Index Fund C000092013 Institutional Shares VRGWX C000092014 ETF Shares VONG 0001021882 S000030003 Vanguard Russell 2000 Index Fund C000092015 Institutional Shares VRTIX C000092016 ETF Shares VTWO 0001021882 S000030004 Vanguard Russell 2000 Value Index Fund C000092017 ETF Shares VTWV C000092018 Institutional Shares VRTVX 0001021882 S000030005 Vanguard Russell 2000 Growth Index Fund C000092019 Institutional Shares VRTGX C000092020 ETF Shares VTWG 0001021882 S000030006 Vanguard Russell 3000 Index Fund C000092021 Institutional Shares VRTTX C000092022 ETF Shares VTHR 485BPOS 1 scottsdale485b012013.htm SCOTTSDALE FUNDS scottsdale485b012013.htm - Generated by SEC Publisher for SEC Filing
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
 
Form N-1A
 
REGISTRATION STATEMENT (NO. 333-11763)  
UNDER THE SECURITIES ACT OF 1933 [X]
Pre-Effective Amendment No. [ ]
Post-Effective Amendment No. 32 [X]
and
 
REGISTRATION STATEMENT (NO. 811-07803) UNDER THE INVESTMENT COMPANY ACT
OF 1940  
Amendment No. 33 [X]
 
 
VANGUARD SCOTTSDALE FUNDS
(FORMERLY KNOWN AS VANGUARD TREASURY FUND)
 
(Exact Name of Registrant as Specified in Declaration of Trust)
 
P.O. Box 2600, Valley Forge, PA 19482
(Address of Principal Executive Office)
 
Registrant’s Telephone Number (610) 669-1000
 
Heidi Stam, Esquire
P.O. Box 876
Valley Forge, PA 19482
 
Approximate Date of Proposed Public Offering:  
It is proposed that this filing will become effective (check appropriate box)
[ ] immediately upon filing pursuant to paragraph (b)
[x] on January 3, 2013, pursuant to paragraph (b)
[ ] 60 days after filing pursuant to paragraph (a)(1)
[ ] on (date) pursuant to paragraph (a)(1)  
[ ] 75 days after filing pursuant to paragraph (a)(2)
[ ] on (date), pursuant to paragraph (a)(2) of rule 485
If appropriate, check the following box:  
[ ] This post-effective amendment designates a new effective date for a previously filed
post-effective amendment.  

 


 

SIGNATURES

Pursuant to the requirements of the Securities Act of 1933 and the Investment Company Act of 1940, the Registrant hereby certifies that it meets all requirements for effectiveness of this Registration Statement pursuant to Rule 485(b) under the Securities Act of 1933 and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the Town of Valley Forge and the Commonwealth of Pennsylvania, on the 3rd day of January, 2013.

VANGUARD SCOTTSDALE FUNDS
BY:___________/s/ F. William Mc Nabb III*_________

F. William McNabb III
Chairman and Chief Executive Officer

Pursuant to the requirements of the Securities Act of 1933, this Post-Effective Amendment to the Registration Statement has been signed below by the following persons in the capacities and on the date indicated:

Signature Title Date
/S/ F. WILLIAM MCNABB III* Chairman and Chief Executive January 3, 2013
  Officer  
F. William McNabb III    
/S/ EMERSON U. FULLWOOD* Trustee January 3, 2013
Emerson U. Fullwood    
/S/ RAJIV L. GUPTA* Trustee January 3, 2013
RAJIV L. GUPTA    
/S/ AMY GUTMANN* Trustee January 3, 2013
Amy Gutmann    
/S/ JOANN HEFFERNAN HEISEN* Trustee January 3, 2013
JoAnn Heffernan Heisen    
/S/ F. JOSEPH LOUGHREY* Trustee January 3, 2013
F. Joseph Loughrey    
/S/ MARK LOUGHRIDGE* Trustee January 3, 2013
Mark Loughridge    
/S/ SCOTT C. MALPASS* Trustee January 3, 2013
Scott C. Malpass    
/S/ ANDRÉ F. PEROLD* Trustee January 3, 2013
André F. Perold    
/S/ ALFRED M. RANKIN, JR.* Trustee January 3, 2013
Alfred M. Rankin, Jr.    
/S/ PETER F. VOLANAKIS* Trustee January 3, 2013
Peter F. Volanakis    
/S/ THOMAS J. HIGGINS* Chief Financial Officer January 3, 2013
Thomas J. Higgins    

 

*By: /s/ Heidi Stam

Heidi Stam, pursuant to a Power of Attorney filed on March 27, 2012, see File Number 2-11444, Incorporated by Reference.


 

INDEX TO EXHIBITS  
 
XBRL Instance Document Ex-101.INS
XBRL Taxonomy Extension Schema Document Ex-101.SCH
XBRL Taxonomy Extension Calculation Linkbase Document Ex-101.CAL
XBRL Taxonomy Extension Definition Linkbase Document. Ex-101.DEF
XBRL Taxonomy Extension Labels Linkbase Documen Ex-101.LAB
XBRL Taxonomy Extension Presentation Linkbase Document Ex-101.PRE

 


 
EX-101.INS 3 scottsdale-20121221.xml INSTANCE Shareholder Fees (Fees paid directly from your investment) Annual Fund Operating Expenses (Expenses that you pay each year as a percentage of the value of your investment) Average Annual Total Returns for Periods Ended December 31, 2011 Annual Total Returns Fees and Expenses Investment Objective Primary Risks Risk/Return Primary Investment Strategies 0.38 (reflects no deduction for fees, expenses, or taxes) <p>The following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows the performance of the Fund in its first full calendar year. The table shows how the average annual total returns of the Fund compare with those of a relevant market index, which has investment characteristics similar to those of the Fund. Keep in mind that the Fund's past performance (before and after taxes) does not indicate how the Fund will perform in the future. Updated performance information is available on our website at vanguard.com/performance or by calling Vanguard toll-free at800-662-7447.</p> <p>Example</p> <p>The following example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. It illustrates the hypothetical expenses that you would incur over various periods if you invest $10,000 in the Fund's shares. This example assumes that the Fund provides a return of 5% a year and that total annual fund operating expenses remain as stated in the preceding table. The results apply whether or not you redeem your investment at the end of the given period. Although your actual costs may be higher or lower, based on these assumptions your costs would be:</p> <p>The following table describes the fees and expenses you may pay if you buy and hold shares of the Fund. 'Acquired Fund Fees and Expenses' are expenses incurred indirectly by the Fund through its ownership of shares in other investment companies, such as business development companies. Business development company expenses are similar to the expenses paid by any operating company held by the Fund. They are not direct costs paid by Fund shareholders and are not used to calculate the Fund's net asset value. They have no impact on the costs associated with fund operations.</p> <p>The Fund seeks to provide long-term capital appreciation.</p> <p>Actual after-tax returns depend on your tax situation and may differ from those shown in the preceding table. When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations. Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares will be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder.</p> <p>Portfolio Turnover</p> <p>The Fund pays transaction costs, such as commissions, when it buys and sells securities (or 'turns over' its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in more taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the previous expense example, reduce the Fund's performance. During the most recent fiscal year, the Fund's portfolio turnover rate was 38%. </p><p>The Fund invests mainly in the stocks of small and mid-size U.S. companies, choosing stocks considered by an advisor to be undervalued. Undervalued stocks are generally those that are out of favor with investors and are trading at prices that the advisor feels are below average in relation to measures such as cash flow and book value. These stocks may have above-average dividend yields. The Fund uses multiple investment advisors.</p> <p>An investment in the Fund could lose money over short or even long periods. </p> <p>An investment in the Fund could lose money over short or even long periods. You should expect the Fund's share price and total return to fluctuate within a wide range, like the fluctuations of the overall stock market. The Fund is subject to the following risks, which could affect the Fund's performance:</p><p>Stock market risk, which is the chance that stock prices overall will decline. Stock markets tend to move in cycles, with periods of rising prices and periods of falling prices.</p><p>Investment style risk, which is the chance that returns from small- and mid-capitalization value stocks will trail returns from the overall stock market. Historically, small- and mid-cap stocks have been more volatile in price than the large-cap stocks that dominate the overall market, and they often perform quite differently.</p><p>Manager risk, which is the chance that poor security selection or focus on securities in a particular sector, category, or group of companies will cause the Fund to underperform relevant benchmarks or other funds with a similar investment objective.Significant investments in the financials, industrials, and information technology sectors subject the fund to proportionately higher exposure to the risks of these sectors.</p><p>An investment in the Fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.</p> <p>An investment in the Fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.</p> <p>The following bar chart and table are intended to help you understand the risks of investing in the Fund.</p> <p>800-662-7447</p> <p>vanguard.com/performance </p> <p>Keep in mind that the Fund's past performance (before and after taxes) does not indicate how the Fund will perform in the future. </p> <p>When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption.</p> <p>Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan.</p> <p>Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares will be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder.</p> <div style="display:none">~ http://vanguard/role/S000028087ShareholderFeesRetail column period compact * column rr_ProspectusShareClassAxis compact * row primary compact * row dei_LegalEntityAxis compact vanguard_S000028087Member ~ </div> <div style="display:none">~ http://vanguard/role/S000028087PerformanceTableDataRetail column primary compact * row dei_LegalEntityAxis compact vanguard_S000028087Member row rr_ProspectusShareClassAxis compact * row rr_PerformanceMeasureAxis compact * ~ </div> <div style="display:none">~ http://vanguard/role/S000028087OperatingExpensesRetail column period compact * column rr_ProspectusShareClassAxis compact * row primary compact * row dei_LegalEntityAxis compact vanguard_S000028087Member ~ </div> <div style="display:none">~ http://vanguard/role/S000028087ExpenseExampleNoRedemptionRetail column period compact * column rr_ProspectusShareClassAxis compact * row primary compact * row dei_LegalEntityAxis compact vanguard_S000028087Member ~ </div> Shareholder Fees (Fees paid directly from your investment) Shareholder Fees (Fees paid directly from your investment) Shareholder Fees (Fees paid directly from your investment) Shareholder Fees (Fees paid directly from your investment) Annual Fund Operating Expenses (Expenses that you pay each year as a percentage of the value of your investment) Annual Fund Operating Expenses (Expenses that you pay each year as a percentage of the value of your investment) Annual Fund Operating Expenses (Expenses that you pay each year as a percentage of the value of your investment) Annual Fund Operating Expenses (Expenses that you pay each year as a percentage of the value of your investment) Average Annual Total Returns for Periods Ended December 31, 2011 Average Annual Total Returns for Periods Ended December 31, 2011 Average Annual Total Returns for Periods Ended December 31, 2011 Average Annual Total Returns for Periods Ended December 31, 2011 Annual Total Returns Fees and Expenses Investment Objective Primary Risks Risk/Return Primary Investment Strategies 0.69 2012-12-21 (reflects no deduction for fees, expenses or taxes) Annual Total Returns Fees and Expenses Investment Objective Primary Risks Risk/Return Primary Investment Strategies 0.69 2012-12-21 (reflects no deduction for fees, expenses, or taxes) Annual Total Returns Fees and Expenses Investment Objective Primary Risks Risk/Return Primary Investment Strategies 0.69 2012-12-21 (reflects no deduction for fees or expenses) Annual Total Returns Fees and Expenses Investment Objective Primary Risks Risk/Return Primary Investment Strategies 0.69 2012-12-21 (reflects no deduction for fees, expenses, or taxes) <p>The following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund's ETF Shares (based on NAV) has varied from one calendar year to another over the periods shown. The table shows how the average annual total returns of the ETF Shares compare with those of the Fund's target index, which has investment characterstics similar to those of the Fund. Keep in mind that the Fund's past performance (before and after taxes) does not indicate how the Fund will perform in the future. Updated performance information is available on our website at vanguard.com/performance or by calling Vanguard toll-free at800-662-7447.</p> <p>This example does not include the brokerage commissions that you may pay to buy and sell ETF Shares of the Fund. </p> <p>Example</p> <p>The following example is intended to help you compare the cost of investing in Intermediate-Term Corporate Bond ETF with the cost of investing in other funds. It illustrates the hypothetical expenses that you would incur over various periods if you invest $10,000 in Intermediate-Term Corporate Bond ETF. This example assumes that Intermediate-Term Corporate Bond ETF provides a return of 5% a year and that total annual fund operating expenses remain as stated in the preceding table. The results apply whether or not you redeem your investment at the end of the given period. Although your actual costs may be higher or lower, based on these assumptions your costs would be:</p> <p>The following table describes the fees and expenses you may pay if you buy and hold ETF Shares of the Fund.</p> <p>The Fund seeks to track the performance of a market-weighted corporate bond index with an intermediate-term dollar-weighted average maturity.</p> <p>Actual after-tax returns depend on your tax situation and may differ from those shown in the preceding table. When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations. Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares will be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder.</p> <p>Portfolio Turnover</p> <p>The Fund pays transaction costs, such as commissions, when it buys and sells securities (or 'turns over' its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in more taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the previous expense example, reduce the Fund's performance. During the most recent fiscal year, the Fund's portfolio turnover rate was 69%. </p> <p>An investment in the Fund could lose money over short or even long periods. </p> <p>An investment in the Fund could lose money over short or even long periods. You should expect the Fund's share price and total return to fluctuate within a wide range, like the fluctuations of the overall bond market. The Fund is subject to the following risks, which could affect the Fund's performance:</p><p>Interest rate risk, which is the chance that bond prices overall will decline because of rising interest rates. Interest rate risk should be moderate for the Fund because it invests primarily in short- and intermediate-term bonds, whose prices are less sensitive to interest rate changes than are the prices of long-term bonds.</p><p>Credit risk, which is the chance that a bond issuer will fail to pay interest and principal in a timely manner, or that negative perceptions of the issuer's ability to make such payments will cause the price of that bond to decline. Credit risk should be moderate for the Fund.</p><p>Income risk, which is the chance that the Fund's income will decline because of falling interest rates. Income risk is generally moderate for intermediate-term bond funds, so investors should expect the Fund's monthly income to fluctuate accordingly.</p><p>Index sampling risk, which is the chance that the securities selected for the Fund, in the aggregate, will not provide investment performance matching that of the Fund's target index. Index sampling risk for the Fund should be low.</p><p>Because ETF Shares are traded on an exchange, they are subject to additional risks:</p><p>Intermediate-Term Corporate Bond ETF Shares are listed for trading on Nasdaq and are bought and sold on the secondary market at market prices. Although it is expected that the market price of a Intermediate-Term Corporate Bond ETF Share typically will approximate its net asset value (NAV), there may be times when the market price and the NAV differ significantly. Thus, you may pay more or less than NAV when you buy Intermediate-Term Corporate Bond ETF Shares on the secondary market, and you may receive more or less than NAV when you sell those shares.</p><p>Although Intermediate-Term Corporate Bond ETF Shares are listed for trading on Nasdaq, it is possible that an active trading market may not be maintained.</p><p>Trading of Intermediate-Term Corporate Bond ETF Shares on Nasdaq may be halted by the activation of individual or marketwide 'circuit breakers' (which halt trading for a specific period of time when the price of a particular security or overall market prices decline by a specified percentage). Trading of Intermediate-Term Corporate Bond ETF Shares may also be halted if (1) the shares are delisted from Nasdaq without first being listed on another exchange or (2) Nasdaq officials determine that such action is appropriate in the interest of a fair and orderly market or to protect investors.</p><p>An investment in the Fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.</p> <p>The Fund employs an indexing investment approach designed to track the performance of the Barclays U.S. 5-10 Year Corporate Bond Index. This Index includes U.S. dollar-denominated, investment-grade, fixed-rate, taxable securities issued by industrial, utility, and financial companies, with maturities between 5 and 10 years.</p><p>The Fund invests by sampling the Index, meaning that it holds a range of securities that, in the aggregate, approximates the full Index in terms of key risk factors and other characteristics. All of the Fund's investments will be selected through the sampling process, and at least 80% of the Fund's assets will be invested in bonds included in the Index. The Fund maintains a dollar-weighted average maturity consistent with that of the Index, which, as of August 31, 2012, was 7.4 years.</p> <p>An investment in the Fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.</p> <p>The following bar chart and table are intended to help you understand the risks of investing in the Fund.</p> <p>800-662-7447</p> <p>vanguard.com/performance </p> <p>Keep in mind that the Fund's past performance (before and after taxes) does not indicate how the Fund will perform in the future. </p> <p>When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption.</p> <p>Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan.</p> <p>Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares will be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder.</p> <p>The following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund's Institutional Shares (including operating expenses but excluding shareholder fees) has varied from one calendar year to another over the periods shown. The table shows how the average annual total returns of the Institutional Shares (including operating expenses and any applicable shareholder fees) compare with those of the Fund's target index, which has investment characteristics similar to those of the Fund. Keep in mind that the Fund's past performance (before and after taxes) does not indicate how the Fund will perform in the future. Updated performance information is available on our website at vanguard.com/performance or by calling Vanguard toll-free at 800-662-7447.</p> <p>Example</p> <p>The following example is intended to help you compare the cost of investing in the Fund's Institutional Shares with the cost of investing in other mutual funds. It illustrates the hypothetical expenses that you would incur over various periods if you invest $10,000 in the Fund's shares. This example assumes that the Shares provide a return of 5% a year and that total annual fund operating expenses remain as stated in the preceding table. The results apply whether or not you redeem your investment at the end of the given period. Although your actual costs may be higher or lower, based on these assumptions your costs would be:</p> <p>The following table describes the fees and expenses you may pay if you buy and hold Institutional Shares of the Fund.</p> <p>The Fund seeks to track the performance of a market-weighted corporate bond index with an intermediate-term dollar-weighted average maturity.</p> <p>Actual after-tax returns depend on your tax situation and may differ from those shown in the preceding table. When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations. Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares will be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder.</p> <p>Portfolio Turnover</p> <p>The Fund pays transaction costs, such as commissions, when it buys and sells securities (or 'turns over' its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in more taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the previous expense example, reduce the Fund's performance. During the most recent fiscal year, the Fund's portfolio turnover rate was 69%. </p> <p>An investment in the Fund could lose money over short or even long periods. </p> <p>An investment in the Fund could lose money over short or even long periods. You should expect the Fund's share price and total return to fluctuate within a wide range, like the fluctuations of the overall bond market. The Fund is subject to the following risks, which could affect the Fund's performance:</p><p>Interest rate risk, which is the chance that bond prices overall will decline because of rising interest rates. Interest rate risk should be moderate for the Fund because it invests primarily in short- and intermediate-term bonds, whose prices are less sensitive to interest rate changes than are the prices of long-term bonds.</p><p>Credit risk, which is the chance that a bond issuer will fail to pay interest and principal in a timely manner, or that negative perceptions of the issuer's ability to make such payments will cause the price of that bond to decline. Credit risk should be moderate for the Fund.</p><p>Income risk, which is the chance that the Fund's income will decline because of falling interest rates. Income risk is generally moderate for intermediate-term bond funds, so investors should expect the Fund's monthly income to fluctuate accordingly.</p><p>Index sampling risk, which is the chance that the securities selected for the Fund, in the aggregate, will not provide investment performance matching that of the Fund's target index. Index sampling risk for the Fund should be low.</p><p>An investment in the Fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.</p> <p>The Fund employs an indexing investment approach designed to track the performance of the Barclays U.S. 5-10 Year Corporate Bond Index. This Index includes U.S. dollar-denominated, investment-grade, fixed-rate, taxable securities issued by industrial, utility, and financial companies, with maturities between 5 and 10 years.</p><p>The Fund invests by sampling the Index, meaning that it holds a range of securities that, in the aggregate, approximates the full Index in terms of key risk factors and other characteristics. All of the Fund's investments will be selected through the sampling process, and at least 80% of the Fund's assets will be invested in bonds included in the Index. The Fund maintains a dollar-weighted average maturity consistent with that of the Index, which, as of August 31, 2012, was 7.4 years.</p> <p>An investment in the Fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.</p> <p>The following bar chart and table are intended to help you understand the risks of investing in the Fund.</p> <p>800-662-7447</p> <p>vanguard.com/performance </p> <p>Keep in mind that the Fund's past performance (before and after taxes) does not indicate how the Fund will perform in the future. </p> <p>When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption.</p> <p>Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan.</p> <p>Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares will be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder.</p> <p>The following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows the performance of the Fund's Signal Shares (including operating expenses but excluding shareholder fees) in their first full calendar year. The table shows how the average annual total returns (including operating expenses and any applicable shareholder fees) compare with those of the Fund's target index, which has investment characteristics similar to those of the Fund. Keep in mind that the Fund's past performance does not indicate how the Fund will perform in the future. Updated performance information is available on our website at vanguard.com/performance or by calling Vanguard toll-free at 800-662-7447.</p> <p>Example</p> <p>The following example is intended to help you compare the cost of investing in the Fund's Signal Shares with the cost of investing in other mutual funds. It illustrates the hypothetical expenses that you would incur over various periods if you invest $10,000 in the Fund's shares. This example assumes that the Shares provide a return of 5% a year and that total annual fund operating expenses remain as stated in the preceding table. The results apply whether or not you redeem your investment at the end of the given period. Although your actual costs may be higher or lower, based on these assumptions your costs would be:</p> <p>The following table describes the fees and expenses you may pay if you buy and hold Signal Shares of the Fund.</p> <p>The Fund seeks to track the performance of a market-weighted corporate bond index with an intermediate-term dollar-weighted average maturity.</p> <p>Portfolio Turnover</p> <p>The Fund pays transaction costs, such as commissions, when it buys and sells securities (or 'turns over' its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in more taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the previous expense example, reduce the Fund's performance. During the most recent fiscal year, the Fund's portfolio turnover rate was 69%. </p> <p>An investment in the Fund could lose money over short or even long periods. </p> <p>An investment in the Fund could lose money over short or even long periods. You should expect the Fund's share price and total return to fluctuate within a wide range, like the fluctuations of the overall bond market. The Fund is subject to the following risks, which could affect the Fund's performance:</p><p>Interest rate risk, which is the chance that bond prices overall will decline because of rising interest rates. Interest rate risk should be moderate for the Fund because it invests primarily in short- and intermediate-term bonds, whose prices are less sensitive to interest rate changes than are the prices of long-term bonds.</p><p>Credit risk, which is the chance that a bond issuer will fail to pay interest and principal in a timely manner, or that negative perceptions of the issuer's ability to make such payments will cause the price of that bond to decline. Credit risk should be moderate for the Fund.</p><p>Income risk, which is the chance that the Fund's income will decline because of falling interest rates. Income risk is generally moderate for intermediate-term bond funds, so investors should expect the Fund's monthly income to fluctuate accordingly.</p><p>Index sampling risk, which is the chance that the securities selected for the Fund, in the aggregate, will not provide investment performance matching that of the Fund's target index. Index sampling risk for the Fund should be low.</p><p>An investment in the Fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.</p> <p>The Fund employs an indexing investment approach designed to track the performance of the Barclays U.S. 5-10 Year Corporate Bond Index. This Index includes U.S. dollar-denominated, investment-grade, fixed-rate, taxable securities issued by industrial, utility, and financial companies, with maturities between 5 and 10 years.</p><p>The Fund invests by sampling the Index, meaning that it holds a range of securities that, in the aggregate, approximates the full Index in terms of key risk factors and other characteristics. All of the Fund's investments will be selected through the sampling process, and at least 80% of the Fund's assets will be invested in bonds included in the Index. The Fund maintains a dollar-weighted average maturity consistent with that of the Index, which, as of August 31, 2012, was 7.4 years.</p> <p>An investment in the Fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.</p> <p>The following bar chart and table are intended to help you understand the risks of investing in the Fund.</p> <p>The bar chart shows the performance of the Fund's Signal Shares (including operating expenses but excluding shareholder fees) in their first full calendar year.</p> <p>800-662-7447</p> <p>vanguard.com/performance </p> <p>Keep in mind that the Fund's past performance does not indicate how the Fund will perform in the future.</p> <p>The following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows the performance of the Fund's Signal Shares (including operating expenses but excluding shareholder fees) in their first full calendar year. The table shows how the average annual total returns of the Signal Shares (including operating expenses and any applicable shareholder fees) compare with those of the Fund's target index, which has investment characteristics similar to those of the Fund. Keep in mind that the Fund's past performance (before and after taxes) does not indicate how the Fund will perform in the future. Updated performance information is available on our website at vanguard.com/performance or by calling Vanguard toll-free at 800-662-7447.</p> <p>Example</p> <p>The following example is intended to help you compare the cost of investing in the Fund's Signal Shares with the cost of investing in other mutual funds. It illustrates the hypothetical expenses that you would incur over various periods if you invest $10,000 in the Fund's shares. This example assumes that the Shares provide a return of 5% a year and that total annual fund operating expenses remain as stated in the preceding table. The results apply whether or not you redeem your investment at the end of the given period. Although your actual costs may be higher or lower, based on these assumptions your costs would be:</p> <p>The following table describes the fees and expenses you may pay if you buy and hold Signal Shares of the Fund.</p> <p>The Fund seeks to track the performance of a market-weighted corporate bond index with an intermediate-term dollar-weighted average maturity.</p> <p>Actual after-tax returns depend on your tax situation and may differ from those shown in the preceding table. When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations. Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares will be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder.</p> <p>Portfolio Turnover</p> <p>The Fund pays transaction costs, such as commissions, when it buys and sells securities (or 'turns over' its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in more taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the previous expense example, reduce the Fund's performance. During the most recent fiscal year, the Fund's portfolio turnover rate was 69%. </p> <p>An investment in the Fund could lose money over short or even long periods. </p> <p>An investment in the Fund could lose money over short or even long periods. You should expect the Fund's share price and total return to fluctuate within a wide range, like the fluctuations of the overall bond market. The Fund is subject to the following risks, which could affect the Fund's performance:</p><p>Interest rate risk, which is the chance that bond prices overall will decline because of rising interest rates. Interest rate risk should be moderate for the Fund because it invests primarily in short- and intermediate-term bonds, whose prices are less sensitive to interest rate changes than are the prices of long-term bonds.</p><p>Credit risk, which is the chance that a bond issuer will fail to pay interest and principal in a timely manner, or that negative perceptions of the issuer's ability to make such payments will cause the price of that bond to decline. Credit risk should be moderate for the Fund.</p><p>Income risk, which is the chance that the Fund's income will decline because of falling interest rates. Income risk is generally moderate for intermediate-term bond funds, so investors should expect the Fund's monthly income to fluctuate accordingly.</p><p>Index sampling risk, which is the chance that the securities selected for the Fund, in the aggregate, will not provide investment performance matching that of the Fund's target index. Index sampling risk for the Fund should be low.</p><p>An investment in the Fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.</p> <p>The Fund employs an indexing investment approach designed to track the performance of the Barclays U.S. 5-10 Year Corporate Bond Index. This Index includes U.S. dollar-denominated, investment-grade, fixed-rate, taxable securities issued by industrial, utility, and financial companies, with maturities between 5 and 10 years.</p><p>The Fund invests by sampling the Index, meaning that it holds a range of securities that, in the aggregate, approximates the full Index in terms of key risk factors and other characteristics. All of the Fund's investments will be selected through the sampling process, and at least 80% of the Fund's assets will be invested in bonds included in the Index. The Fund maintains a dollar-weighted average maturity consistent with that of the Index, which, as of August 31, 2012, was 7.4 years.</p> <p>An investment in the Fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.</p> <p>The following bar chart and table are intended to help you understand the risks of investing in the Fund.</p> <p>The bar chart shows the performance of the Fund's Signal Shares (including operating expenses but excluding shareholder fees) in their first full calendar year.</p> <p>800-662-7447</p> <p>vanguard.com/performance </p> <p>Keep in mind that the Fund's past performance (before and after taxes) does not indicate how the Fund will perform in the future. </p> <p>When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption.</p> <p>Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan.</p> <p>Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares will be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder.</p> <div style="display:none">~ http://vanguard/role/S000026863ShareholderFeesInstitutional column period compact * column rr_ProspectusShareClassAxis compact * row primary compact * row dei_LegalEntityAxis compact vanguard_S000026863Member ~ </div> <div style="display:none">~ http://vanguard/role/S000026863ShareholderFeesSignal column period compact * column rr_ProspectusShareClassAxis compact * row primary compact * row dei_LegalEntityAxis compact vanguard_S000026863Member ~ </div> <div style="display:none">~ http://vanguard/role/S000026863ShareholderFeesParticipant column period compact * column rr_ProspectusShareClassAxis compact * row primary compact * row dei_LegalEntityAxis compact vanguard_S000026863Member ~ </div> <div style="display:none">~ http://vanguard/role/S000026863ShareholderFeesETF column period compact * column rr_ProspectusShareClassAxis compact * row primary compact * row dei_LegalEntityAxis compact vanguard_S000026863Member ~ </div> <div style="display:none">~ http://vanguard/role/S000026863PerformanceTableDataInstitutional column primary compact * row dei_LegalEntityAxis compact vanguard_S000026863Member row rr_ProspectusShareClassAxis compact * row rr_PerformanceMeasureAxis compact * ~ </div> <div style="display:none">~ http://vanguard/role/S000026863PerformanceTableDataSignal column primary compact * row dei_LegalEntityAxis compact vanguard_S000026863Member row rr_ProspectusShareClassAxis compact * row rr_PerformanceMeasureAxis compact * ~ </div> <div style="display:none">~ http://vanguard/role/S000026863PerformanceTableDataParticipant column primary compact * row dei_LegalEntityAxis compact vanguard_S000026863Member row rr_ProspectusShareClassAxis compact * row rr_PerformanceMeasureAxis compact * ~ </div> <div style="display:none">~ http://vanguard/role/S000026863PerformanceTableDataETF column primary compact * row dei_LegalEntityAxis compact vanguard_S000026863Member row rr_ProspectusShareClassAxis compact * row rr_PerformanceMeasureAxis compact * ~ </div> <div style="display:none">~ http://vanguard/role/S000026863OperatingExpensesInstitutional column period compact * column rr_ProspectusShareClassAxis compact * row primary compact * row dei_LegalEntityAxis compact vanguard_S000026863Member ~ </div> <div style="display:none">~ http://vanguard/role/S000026863OperatingExpensesETF column period compact * column rr_ProspectusShareClassAxis compact * row primary compact * row dei_LegalEntityAxis compact vanguard_S000026863Member ~ </div> <div style="display:none">~ http://vanguard/role/S000026863OperatingExpensesSignal column period compact * column rr_ProspectusShareClassAxis compact * row primary compact * row dei_LegalEntityAxis compact vanguard_S000026863Member ~ </div> <div style="display:none">~ http://vanguard/role/S000026863OperatingExpensesParticipant column period compact * column rr_ProspectusShareClassAxis compact * row primary compact * row dei_LegalEntityAxis compact vanguard_S000026863Member ~ </div> <div style="display:none">~ http://vanguard/role/S000026863ExpenseExampleNoRedemptionInstitutional column period compact * column rr_ProspectusShareClassAxis compact * row primary compact * row dei_LegalEntityAxis compact vanguard_S000026863Member ~ </div> <div style="display:none">~ http://vanguard/role/S000026863ExpenseExampleNoRedemptionETF column period compact * column rr_ProspectusShareClassAxis compact * row primary compact * row dei_LegalEntityAxis compact vanguard_S000026863Member ~ </div> <div style="display:none">~ http://vanguard/role/S000026863ExpenseExampleNoRedemptionSignal column period compact * column rr_ProspectusShareClassAxis compact * row primary compact * row dei_LegalEntityAxis compact vanguard_S000026863Member ~ </div> <div style="display:none">~ http://vanguard/role/S000026863ExpenseExampleNoRedemptionParticipant column period compact * column rr_ProspectusShareClassAxis compact * row primary compact * row dei_LegalEntityAxis compact vanguard_S000026863Member ~ </div> Shareholder Fees (Fees paid directly from your investment) Shareholder Fees (Fees paid directly from your investment) Shareholder Fees (Fees paid directly from your investment) Shareholder Fees (Fees paid directly from your investment) Annual Fund Operating Expenses (Expenses that you pay each year as a percentage of the value of your investment) Annual Fund Operating Expenses (Expenses that you pay each year as a percentage of the value of your investment) Annual Fund Operating Expenses (Expenses that you pay each year as a percentage of the value of your investment) Annual Fund Operating Expenses (Expenses that you pay each year as a percentage of the value of your investment) Average Annual Total Returns for Periods Ended December 31, 2011 Average Annual Total Returns for Periods Ended December 31, 2011 Average Annual Total Returns for Periods Ended December 31, 2011 Average Annual Total Returns for Periods Ended December 31, 2011 Annual Total Returns Fees and Expenses Investment Objective Primary Risks Risk/Return Primary Investment Strategies 0.51 2012-12-21 (reflects no deduction for fees, expenses or taxes) Annual Total Returns Fees and Expenses Investment Objective Primary Risks Risk/Return Primary Investment Strategies 0.51 2012-12-21 (reflects no deduction for fees, expenses or taxes) Annual Total Returns Fees and Expenses Investment Objective Primary Risks Risk/Return Primary Investment Strategies 0.51 2012-12-21 (reflects no deduction for fees or expenses) Annual Total Returns Fees and Expenses Investment Objective Primary Risks Risk/Return Primary Investment Strategies 0.51 2012-12-21 (reflects no deduction for fees or expenses) <p>The following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund's ETF Shares (based on NAV) has varied from one calendar year to another over the periods shown. The table shows how the average annual total returns of the ETF Shares compare with those of the Fund's target index, which has investment characterstics similar to those of the Fund. Keep in mind that the Fund's past performance (before and after taxes) does not indicate how the Fund will perform in the future. Updated performance information is available on our website at vanguard.com/performance or by calling Vanguard toll-free at800-662-7447.</p> <p>This example does not include the brokerage commissions that you may pay to buy and sell ETF Shares of the Fund. </p> <p>Example</p> <p>The following example is intended to help you compare the cost of investing in Intermediate-Term Government Bond ETF with the cost of investing in other funds. It illustrates the hypothetical expenses that you would incur over various periods if you invest $10,000 in Intermediate-Term Government Bond ETF. This example assumes that Intermediate-Term Government Bond ETF provides a return of 5% a year and that total annual fund operating expenses remain as stated in the preceding table. The results apply whether or not you redeem your investment at the end of the given period. Although your actual costs may be higher or lower, based on these assumptions your costs would be:</p> <p>The following table describes the fees and expenses you may pay if you buy and hold ETF Shares of the Fund.</p> <p>The Fund seeks to track the performance of a market-weighted government bond index with an intermediate-term dollar-weighted average maturity.</p> <p>Actual after-tax returns depend on your tax situation and may differ from those shown in the preceding table. When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations. Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares will be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder.</p> <p>Portfolio Turnover</p> <p>The Fund pays transaction costs, such as commissions, when it buys and sells securities (or 'turns over' its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in more taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the previous expense example, reduce the Fund's performance. During the most recent fiscal year, the Fund's portfolio turnover rate was 51%. </p> <p>An investment in the Fund could lose money over short or even long periods. </p> <p>An investment in the Fund could lose money over short or even long periods. You should expect the Fund's share price and total return to fluctuate within a wide range, like the fluctuations of the overall bond market. The Fund is subject to the following risks, which could affect the Fund's performance:</p><p>Income risk, which is the chance that the Fund's income will decline because of falling interest rates. Income risk is generally moderate for intermediate-term bond funds, so investors should expect the Fund's monthly income to fluctuate accordingly.</p><p>Interest rate risk, which is the chance that bond prices overall will decline because of rising interest rates. Interest rate risk should be moderate for the Fund because it invests primarily in short- and intermediate-term bonds, whose prices are less sensitive to interest rate changes than are the prices of long-term bonds.</p><p>Credit risk, which is the chance that a bond issuer will fail to pay interest and principal in a timely manner, or that negative perceptions of the issuer's ability to make such payments will cause the price of that bond to decline. Credit risk should be very low for the Fund because it invests only in bonds issued by the U.S. Treasury or U.S. government agencies and instrumentalities.</p><p>Index sampling risk, which is the chance that the securities selected for the Fund, in the aggregate, will not provide investment performance matching that of the Fund's target index. Index sampling risk for the Fund should be low.</p><p>Because ETF Shares are traded on an exchange, they are subject to additional risks:</p><p>Intermediate-Term Government Bond ETF Shares are listed for trading on Nasdaq and are bought and sold on the secondary market at market prices. Although it is expected that the market price of a Intermediate-Term Government Bond ETF Share typically will approximate its net asset value (NAV), there may be times when the market price and the NAV differ significantly. Thus, you may pay more or less than NAV when you buy Intermediate-Term Government Bond ETF Shares on the secondary market, and you may receive more or less than NAV when you sell those shares.</p><p>Although Intermediate-Term Government Bond ETF Shares are listed for trading on Nasdaq, it is possible that an active trading market may not be maintained.</p><p>Trading of Intermediate-Term Government Bond ETF Shares on Nasdaq may be halted by the activation of individual or marketwide 'circuit breakers' (which halt trading for a specific period of time when the price of a particular security or overall market prices decline by a specified percentage). Trading of Intermediate-Term Government Bond ETF Shares may also be halted if (1) the shares are delisted from Nasdaq without first being listed on another exchange or (2) Nasdaq officials determine that such action is appropriate in the interest of a fair and orderly market or to protect investors.</p><p>An investment in the Fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.</p> <p>The Fund employs an indexing investment approach designed to track the performance of the Barclays U.S. 3-10 Year Government Float Adjusted Index. This Index includes fixed income securities issued by the U.S. Treasury (not including inflation-protected bonds) and U.S. government agencies and instrumentalities, as well as corporate or dollar-denominated foreign debt guaranteed by the U.S. government, with maturities between 3 and 10 years.</p><p>The Fund invests by sampling the Index, meaning that it holds a range of securities that, in the aggregate, approximates the full Index in terms of key risk factors and other characteristics. All of the Fund's investments will be selected through the sampling process, and at least 80% of the Fund's assets will be invested in bonds included in the Index. The Fund maintains a dollar-weighted average maturity consistent with that of the Index, which, as of August 31, 2012, was 5.6 years.</p> <p>An investment in the Fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.</p> <p>The following bar chart and table are intended to help you understand the risks of investing in the Fund.</p> <p>800-662-7447</p> <p>vanguard.com/performance </p> <p>Keep in mind that the Fund's past performance (before and after taxes) does not indicate how the Fund will perform in the future. </p> <p>When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption.</p> <p>Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan.</p> <p>Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares will be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder.</p> <p>The following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows the performance of the Fund's Institutional Shares in their first full calendar year. The table shows how the average annual total returns of the Institutional Shares compare with those of the Fund's target index, which has investment characteristics similar to those of the Fund. Keep in mind that the Fund's past performance (before and after taxes) does not indicate how the Fund will perform in the future. Updated performance information is available on our website at vanguard.com/performance or by calling Vanguard toll-free at 800-662-7447.</p> <p>Example</p> <p>The following example is intended to help you compare the cost of investing in the Fund's Institutional Shares with the cost of investing in other mutual funds. It illustrates the hypothetical expenses that you would incur over various periods if you invest $10,000 in the Fund's shares. This example assumes that the Shares provide a return of 5% a year and that total annual fund operating expenses remain as stated in the preceding table. The results apply whether or not you redeem your investment at the end of the given period. Although your actual costs may be higher or lower, based on these assumptions your costs would be:</p> <p>The following table describes the fees and expenses you may pay if you buy and hold Institutional Shares of the Fund.</p> <p>The Fund seeks to track the performance of a market-weighted government bond index with an intermediate-term dollar-weighted average maturity.</p> <p>Actual after-tax returns depend on your tax situation and may differ from those shown in the preceding table. When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations. Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares will be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder.</p> <p>Portfolio Turnover</p> <p>The Fund pays transaction costs, such as commissions, when it buys and sells securities (or 'turns over' its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in more taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the previous expense example, reduce the Fund's performance. During the most recent fiscal year, the Fund's portfolio turnover rate was 51%. </p> <p>An investment in the Fund could lose money over short or even long periods. </p> <p>An investment in the Fund could lose money over short or even long periods. You should expect the Fund's share price and total return to fluctuate within a wide range, like the fluctuations of the overall bond market. The Fund is subject to the following risks, which could affect the Fund's performance:</p><p>Income risk, which is the chance that the Fund's income will decline because of falling interest rates. Income risk is generally moderate for intermediate-term bond funds, so investors should expect the Fund's monthly income to fluctuate accordingly.</p><p>Interest rate risk, which is the chance that bond prices overall will decline because of rising interest rates. Interest rate risk should be moderate for the Fund because it invests primarily in short- and intermediate-term bonds, whose prices are less sensitive to interest rate changes than are the prices of long-term bonds.</p><p>Credit risk, which is the chance that a bond issuer will fail to pay interest and principal in a timely manner, or that negative perceptions of the issuer's ability to make such payments will cause the price of that bond to decline. Credit risk should be very low for the Fund because it invests only in bonds issued by the U.S. Treasury or U.S. government agencies and instrumentalities.</p><p>Index sampling risk, which is the chance that the securities selected for the Fund, in the aggregate, will not provide investment performance matching that of the Fund's target index. Index sampling risk for the Fund should be low.</p><p>An investment in the Fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.</p> <p>The Fund employs an indexing investment approach designed to track the performance of the Barclays U.S. 3-10 Year Government Float Adjusted Index. This Index includes fixed income securities issued by the U.S. Treasury (not including inflation-protected bonds) and U.S. government agencies and instrumentalities, as well as corporate or dollar-denominated foreign debt guaranteed by the U.S. government, with maturities between 3 and 10 years.</p><p>The Fund invests by sampling the Index, meaning that it holds a range of securities that, in the aggregate, approximates the full Index in terms of key risk factors and other characteristics. All of the Fund's investments will be selected through the sampling process, and at least 80% of the Fund's assets will be invested in bonds included in the Index. The Fund maintains a dollar-weighted average maturity consistent with that of the Index, which, as of August 31, 2012, was 5.6 years.</p> <p>An investment in the Fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.</p> <p>The following bar chart and table are intended to help you understand the risks of investing in the Fund.</p> <p>The bar chart shows the performance of the Fund's Institutional Shares in their first full calendar year.</p> <p>800-662-7447</p> <p>vanguard.com/performance </p> <p>Keep in mind that the Fund's past performance (before and after taxes) does not indicate how the Fund will perform in the future. </p> <p>When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption.</p> <p>Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan.</p> <p>Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares will be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder.</p> <p>The following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows the performance of the Fund's Signal Shares in their first full calendar year. The table shows how the average annual total returns compare with those of the Fund's target index, which has investment characteristics similar to those of the Fund. Keep in mind that the Fund's past performance does not indicate how the Fund will perform in the future. Updated performance information is available online at vanguard.com/performance or by calling Vanguard toll-free at 800-662-7447.</p> <p>Example</p> <p>The following example is intended to help you compare the cost of investing in the Fund's Signal Shares with the cost of investing in other mutual funds. It illustrates the hypothetical expenses that you would incur over various periods if you invest $10,000 in the Fund's shares. This example assumes that the Shares provide a return of 5% a year and that total annual fund operating expenses remain as stated in the preceding table. The results apply whether or not you redeem your investment at the end of the given period. Although your actual costs may be higher or lower, based on these assumptions your costs would be:</p> <p>The following table describes the fees and expenses you may pay if you buy and hold Signal Shares of the Fund.</p> <p>The Fund seeks to track the performance of a market-weighted government bond index with an intermediate-term dollar-weighted average maturity.</p> <p>Portfolio Turnover</p> <p>The Fund pays transaction costs, such as commissions, when it buys and sells securities (or 'turns over' its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in more taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the previous expense example, reduce the Fund's performance. During the most recent fiscal year, the Fund's portfolio turnover rate was 51%. </p> <p>An investment in the Fund could lose money over short or even long periods. </p> <p>An investment in the Fund could lose money over short or even long periods. You should expect the Fund's share price and total return to fluctuate within a wide range, like the fluctuations of the overall bond market. The Fund is subject to the following risks, which could affect the Fund's performance:</p><p>Income risk, which is the chance that the Fund's income will decline because of falling interest rates. Income risk is generally moderate for intermediate-term bond funds, so investors should expect the Fund's monthly income to fluctuate accordingly.</p><p>Interest rate risk, which is the chance that bond prices overall will decline because of rising interest rates. Interest rate risk should be moderate for the Fund because it invests primarily in short- and intermediate-term bonds, whose prices are less sensitive to interest rate changes than are the prices of long-term bonds.</p><p>Credit risk, which is the chance that a bond issuer will fail to pay interest and principal in a timely manner, or that negative perceptions of the issuer's ability to make such payments will cause the price of that bond to decline. Credit risk should be very low for the Fund because it invests only in bonds issued by the U.S. Treasury or U.S. government agencies and instrumentalities.</p><p>Index sampling risk, which is the chance that the securities selected for the Fund, in the aggregate, will not provide investment performance matching that of the Fund's target index. Index sampling risk for the Fund should be low.</p><p>An investment in the Fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.</p> <p>The Fund employs an indexing investment approach designed to track the performance of the Barclays U.S. 3-10 Year Government Float Adjusted Index. This Index includes fixed income securities issued by the U.S. Treasury (not including inflation-protected bonds) and U.S. government agencies and instrumentalities, as well as corporate or dollar-denominated foreign debt guaranteed by the U.S. government, with maturities between 3 and 10 years.</p><p>The Fund invests by sampling the Index, meaning that it holds a range of securities that, in the aggregate, approximates the full Index in terms of key risk factors and other characteristics. All of the Fund's investments will be selected through the sampling process, and at least 80% of the Fund's assets will be invested in bonds included in the Index. The Fund maintains a dollar-weighted average maturity consistent with that of the Index, which, as of August 31, 2012, was 5.6 years.</p> <p>An investment in the Fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.</p> <p>The following bar chart and table are intended to help you understand the risks of investing in the Fund.</p> <p>The bar chart shows the performance of the Fund's Signal Shares in their first full calendar year.</p> <p>800-662-7447</p> <p>vanguard.com/performance </p> <p>Keep in mind that the Fund's past performance does not indicate how the Fund will perform in the future.</p> <p>The following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows the performance of the Fund's Signal Shares in their first full calendar year. The table shows how the average annual total returns of the Signal Shares compare with those of the Fund's target index, which has investment characteristics similar to those of the Fund. Keep in mind that the Fund's past performance (before and after taxes) does not indicate how the Fund will perform in the future. Updated performance information is available on our website at vanguard.com/performance or by calling Vanguard toll-free at 800-662-7447.</p> <p>Example</p> <p>The following example is intended to help you compare the cost of investing in the Fund's Signal Shares with the cost of investing in other mutual funds. It illustrates the hypothetical expenses that you would incur over various periods if you invest $10,000 in the Fund's shares. This example assumes that the Shares provide a return of 5% a year and that total annual fund operating expenses remain as stated in the preceding table. The results apply whether or not you redeem your investment at the end of the given period. Although your actual costs may be higher or lower, based on these assumptions your costs would be:</p> <p>The following table describes the fees and expenses you may pay if you buy and hold Signal Shares of the Fund.</p> <p>The Fund seeks to track the performance of a market-weighted government bond index with an intermediate-term dollar-weighted average maturity.</p> <p>Actual after-tax returns depend on your tax situation and may differ from those shown in the preceding table. When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations. Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares will be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder.</p> <p>Portfolio Turnover</p> <p>The Fund pays transaction costs, such as commissions, when it buys and sells securities (or 'turns over' its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in more taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the previous expense example, reduce the Fund's performance. During the most recent fiscal year, the Fund's portfolio turnover rate was 51%. </p> <p>An investment in the Fund could lose money over short or even long periods. </p> <p>An investment in the Fund could lose money over short or even long periods. You should expect the Fund's share price and total return to fluctuate within a wide range, like the fluctuations of the overall bond market. The Fund is subject to the following risks, which could affect the Fund's performance:</p><p>Income risk, which is the chance that the Fund's income will decline because of falling interest rates. Income risk is generally moderate for intermediate-term bond funds, so investors should expect the Fund's monthly income to fluctuate accordingly.</p><p>Interest rate risk, which is the chance that bond prices overall will decline because of rising interest rates. Interest rate risk should be moderate for the Fund because it invests primarily in short- and intermediate-term bonds, whose prices are less sensitive to interest rate changes than are the prices of long-term bonds.</p><p>Credit risk, which is the chance that a bond issuer will fail to pay interest and principal in a timely manner, or that negative perceptions of the issuer's ability to make such payments will cause the price of that bond to decline. Credit risk should be very low for the Fund because it invests only in bonds issued by the U.S. Treasury or U.S. government agencies and instrumentalities.</p><p>Index sampling risk, which is the chance that the securities selected for the Fund, in the aggregate, will not provide investment performance matching that of the Fund's target index. Index sampling risk for the Fund should be low.</p><p>An investment in the Fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.</p> <p>The Fund employs an indexing investment approach designed to track the performance of the Barclays U.S. 3-10 Year Government Float Adjusted Index. This Index includes fixed income securities issued by the U.S. Treasury (not including inflation-protected bonds) and U.S. government agencies and instrumentalities, as well as corporate or dollar-denominated foreign debt guaranteed by the U.S. government, with maturities between 3 and 10 years.</p><p>The Fund invests by sampling the Index, meaning that it holds a range of securities that, in the aggregate, approximates the full Index in terms of key risk factors and other characteristics. All of the Fund's investments will be selected through the sampling process, and at least 80% of the Fund's assets will be invested in bonds included in the Index. The Fund maintains a dollar-weighted average maturity consistent with that of the Index, which, as of August 31, 2012, was 5.6 years.</p> <p>An investment in the Fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.</p> <p>The following bar chart and table are intended to help you understand the risks of investing in the Fund.</p> <p>The bar chart shows the performance of the Fund's Signal Shares in their first full calendar year.</p> <p>800-662-7447</p> <p>vanguard.com/performance </p> <p>Keep in mind that the Fund's past performance (before and after taxes) does not indicate how the Fund will perform in the future. </p> <p>When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption.</p> <p>Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan.</p> <p>Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares will be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder.</p> <div style="display:none">~ http://vanguard/role/S000026860ShareholderFeesInstitutional column period compact * column rr_ProspectusShareClassAxis compact * row primary compact * row dei_LegalEntityAxis compact vanguard_S000026860Member ~ </div> <div style="display:none">~ http://vanguard/role/S000026860ShareholderFeesSignal column period compact * column rr_ProspectusShareClassAxis compact * row primary compact * row dei_LegalEntityAxis compact vanguard_S000026860Member ~ </div> <div style="display:none">~ http://vanguard/role/S000026860ShareholderFeesParticipant column period compact * column rr_ProspectusShareClassAxis compact * row primary compact * row dei_LegalEntityAxis compact vanguard_S000026860Member ~ </div> <div style="display:none">~ http://vanguard/role/S000026860ShareholderFeesETF column period compact * column rr_ProspectusShareClassAxis compact * row primary compact * row dei_LegalEntityAxis compact vanguard_S000026860Member ~ </div> <div style="display:none">~ http://vanguard/role/S000026860PerformanceTableDataInstitutional column primary compact * row dei_LegalEntityAxis compact vanguard_S000026860Member row rr_ProspectusShareClassAxis compact * row rr_PerformanceMeasureAxis compact * ~ </div> <div style="display:none">~ http://vanguard/role/S000026860PerformanceTableDataSignal column primary compact * row dei_LegalEntityAxis compact vanguard_S000026860Member row rr_ProspectusShareClassAxis compact * row rr_PerformanceMeasureAxis compact * ~ </div> <div style="display:none">~ http://vanguard/role/S000026860PerformanceTableDataParticipant column primary compact * row dei_LegalEntityAxis compact vanguard_S000026860Member row rr_ProspectusShareClassAxis compact * row rr_PerformanceMeasureAxis compact * ~ </div> <div style="display:none">~ http://vanguard/role/S000026860PerformanceTableDataETF column primary compact * row dei_LegalEntityAxis compact vanguard_S000026860Member row rr_ProspectusShareClassAxis compact * row rr_PerformanceMeasureAxis compact * ~ </div> <div style="display:none">~ http://vanguard/role/S000026860OperatingExpensesInstitutional column period compact * column rr_ProspectusShareClassAxis compact * row primary compact * row dei_LegalEntityAxis compact vanguard_S000026860Member ~ </div> <div style="display:none">~ http://vanguard/role/S000026860OperatingExpensesSignal column period compact * column rr_ProspectusShareClassAxis compact * row primary compact * row dei_LegalEntityAxis compact vanguard_S000026860Member ~ </div> <div style="display:none">~ http://vanguard/role/S000026860OperatingExpensesParticipant column period compact * column rr_ProspectusShareClassAxis compact * row primary compact * row dei_LegalEntityAxis compact vanguard_S000026860Member ~ </div> <div style="display:none">~ http://vanguard/role/S000026860OperatingExpensesETF column period compact * column rr_ProspectusShareClassAxis compact * row primary compact * row dei_LegalEntityAxis compact vanguard_S000026860Member ~ </div> <div style="display:none">~ http://vanguard/role/S000026860ExpenseExampleNoRedemptionInstitutional column period compact * column rr_ProspectusShareClassAxis compact * row primary compact * row dei_LegalEntityAxis compact vanguard_S000026860Member ~ </div> <div style="display:none">~ http://vanguard/role/S000026860ExpenseExampleNoRedemptionSignal column period compact * column rr_ProspectusShareClassAxis compact * row primary compact * row dei_LegalEntityAxis compact vanguard_S000026860Member ~ </div> <div style="display:none">~ http://vanguard/role/S000026860ExpenseExampleNoRedemptionParticipant column period compact * column rr_ProspectusShareClassAxis compact * row primary compact * row dei_LegalEntityAxis compact vanguard_S000026860Member ~ </div> <div style="display:none">~ http://vanguard/role/S000026860ExpenseExampleNoRedemptionETF column period compact * column rr_ProspectusShareClassAxis compact * row primary compact * row dei_LegalEntityAxis compact vanguard_S000026860Member ~ </div> Shareholder Fees (Fees paid directly from your investment) Shareholder Fees (Fees paid directly from your investment) Shareholder Fees (Fees paid directly from your investment) Shareholder Fees (Fees paid directly from your investment) Annual Fund Operating Expenses (Expenses that you pay each year as a percentage of the value of your investment) Annual Fund Operating Expenses (Expenses that you pay each year as a percentage of the value of your investment) Annual Fund Operating Expenses (Expenses that you pay each year as a percentage of the value of your investment) Annual Fund Operating Expenses (Expenses that you pay each year as a percentage of the value of your investment) Average Annual Total Returns for Periods Ended December 31, 2011 Average Annual Total Returns for Periods Ended December 31, 2011 Average Annual Total Returns for Periods Ended December 31, 2011 Average Annual Total Returns for Periods Ended December 31, 2011 Annual Total Returns Fees and Expenses Investment Objective Primary Risks Risk/Return Primary Investment Strategies 0.71 2012-12-21 (reflects no deduction for fees, expenses or taxes) Annual Total Returns Fees and Expenses Investment Objective Primary Risks Risk/Return Primary Investment Strategies 0.71 2012-12-21 (reflects no deduction for fees, expenses, or taxes) Annual Total Returns Fees and Expenses Investment Objective Primary Risks Risk/Return Primary Investment Strategies 0.71 2012-12-21 (reflects no deduction for fees or expenses) Annual Total Returns Fees and Expenses Investment Objective Primary Risks Risk/Return Primary Investment Strategies 0.71 2012-12-21 (reflects no deduction for fees, expenses, or taxes) <p>The following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund's ETF Shares (based on NAV) has varied from one calendar year to another over the periods shown. The table shows how the average annual total returns of the ETF Shares compare with those of the Fund's target index, which has investment characterstics similar to those of the Fund. Keep in mind that the Fund's past performance (before and after taxes) does not indicate how the Fund will perform in the future. Updated performance information is available on our website at vanguard.com/performance or by calling Vanguard toll-free at800-662-7447.</p> <p>This example does not include the brokerage commissions that you may pay to buy and sell ETF Shares of the Fund. </p> <p>Example</p> <p>The following example is intended to help you compare the cost of investing in Long-Term Corporate Bond ETF with the cost of investing in other funds. It illustrates the hypothetical expenses that you would incur over various periods if you invest $10,000 in Long-Term Corporate Bond ETF. This example assumes that Long-Term Corporate Bond ETF provides a return of 5% a year and that total annual fund operating expenses remain as stated in the preceding table. The results apply whether or not you redeem your investment at the end of the given period. Although your actual costs may be higher or lower, based on these assumptions your costs would be:</p> <p>The following table describes the fees and expenses you may pay if you buy and hold ETF Shares of the Fund.</p> <p>The Fund seeks to track the performance of a market-weighted corporate bond index with a long-term dollar-weighted average maturity.</p> <p>Actual after-tax returns depend on your tax situation and may differ from those shown in the preceding table. When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations. Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares will be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder.</p> <p>Portfolio Turnover</p> <p>The Fund pays transaction costs, such as commissions, when it buys and sells securities (or 'turns over' its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in more taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the previous expense example, reduce the Fund's performance. During the most recent fiscal year, the Fund's portfolio turnover rate was 71%. </p> <p>An investment in the Fund could lose money over short or even long periods. </p> <p>An investment in the Fund could lose money over short or even long periods. You should expect the Fund's share price and total return to fluctuate within a wide range, like the fluctuations of the overall bond market. The Fund is subject to the following risks, which could affect the Fund's performance:</p><p>Interest rate risk, which is the chance that bond prices overall will decline because of rising interest rates. Interest rate risk should be high for the Fund because it invests primarily in long-term bonds, whose prices are much more sensitive to interest rate changes than are the prices of short-term bonds.</p><p>Credit risk, which is the chance that a bond issuer will fail to pay interest and principal in a timely manner, or that negative perceptions of the issuer's ability to make such payments will cause the price of that bond to decline. Credit risk should be moderate for the Fund.</p><p>Income risk, which is the chance that the Fund's income will decline because of falling interest rates. Income risk is generally low for long-term bond funds.</p><p>Index sampling risk, which is the chance that the securities selected for the Fund, in the aggregate, will not provide investment performance matching that of the Fund's target index. Index sampling risk for the Fund should be low.</p><p>Because ETF Shares are traded on an exchange, they are subject to additional risks:</p><p>Long-Term Corporate Bond ETF Shares are listed for trading on Nasdaq and are bought and sold on the secondary market at market prices. Although it is expected that the market price of a Long-Term Corporate Bond ETF Share typically will approximate its net asset value (NAV), there may be times when the market price and the NAV differ significantly. Thus, you may pay more or less than NAV when you buy Long-Term Corporate Bond ETF Shares on the secondary market, and you may receive more or less than NAV when you sell those shares.</p><p>Although Long-Term Corporate Bond ETF Shares are listed for trading on Nasdaq, it is possible that an active trading market may not be maintained.</p><p>Trading of Long-Term Corporate Bond ETF Shares on Nasdaq may be halted by the activation of individual or marketwide 'circuit breakers' (which halt trading for a specific period of time when the price of a particular security or overall market prices decline by a specified percentage). Trading of Long-Term Corporate Bond ETF Shares may also be halted if (1) the shares are delisted from Nasdaq without first being listed on another exchange or (2) Nasdaq officials determine that such action is appropriate in the interest of a fair and orderly market or to protect investors.</p><p>An investment in the Fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.</p> <p>The Fund employs an indexing investment approach designed to track the performance of the Barclays U.S. 10+ Year Corporate Bond Index. This index includes U.S. dollar-denominated, investment-grade, fixed-rate, taxable securities issued by industrial, utility, and financial companies, with maturities greater than 10 years.</p><p>The Fund invests by sampling the Index, meaning that it holds a range of securities that, in the aggregate, approximates the full Index in terms of key risk factors and other characteristics. All of the Fund's investments will be selected through the sampling process, and at least 80% of the Fund's assets will be invested in bonds included in the Index. The Fund maintains a dollar-weighted average maturity consistent with that of the Index, which, as of August 31, 2012, was 24.6 years.</p> <p>An investment in the Fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.</p> <p>The following bar chart and table are intended to help you understand the risks of investing in the Fund.</p> <p>800-662-7447</p> <p>vanguard.com/performance </p> <p>Keep in mind that the Fund's past performance (before and after taxes) does not indicate how the Fund will perform in the future. </p> <p>When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption.</p> <p>Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan.</p> <p>Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares will be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder.</p> <p>The following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund's Institutional Shares (including operating expenses but excluding shareholder fees) has varied from one calendar year to another over the periods shown. The table shows how the average annual total returns of the Institutional Shares (including operating expenses and any applicable shareholder fees) compare with those of the Fund's target index, which has investment characteristics similar to those of the Fund. Keep in mind that the Fund's past performance (before and after taxes) does not indicate how the Fund will perform in the future. Updated performance information is available on our website at vanguard.com/performance or by calling Vanguard toll-free at 800-662-7447.</p> <p>Example</p> <p>The following example is intended to help you compare the cost of investing in the Fund's Institutional Shares with the cost of investing in other mutual funds. It illustrates the hypothetical expenses that you would incur over various periods if you invest $10,000 in the Fund's shares. This example assumes that the Shares provide a return of 5% a year and that total annual fund operating expenses remain as stated in the preceding table. The results apply whether or not you redeem your investment at the end of the given period. Although your actual costs may be higher or lower, based on these assumptions your costs would be:</p> <p>The following table describes the fees and expenses you may pay if you buy and hold Institutional Shares of the Fund.</p> <p>The Fund seeks to track the performance of a market-weighted corporate bond index with a long-term dollar-weighted average maturity.</p> <p>Actual after-tax returns depend on your tax situation and may differ from those shown in the preceding table. When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations. Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares will be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder.</p> <p>Portfolio Turnover</p> <p>The Fund pays transaction costs, such as commissions, when it buys and sells securities (or 'turns over' its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in more taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the previous expense example, reduce the Fund's performance. During the most recent fiscal year, the Fund's portfolio turnover rate was 71%. </p> <p>An investment in the Fund could lose money over short or even long periods. </p> <p>An investment in the Fund could lose money over short or even long periods. You should expect the Fund's share price and total return to fluctuate within a wide range, like the fluctuations of the overall bond market. The Fund is subject to the following risks, which could affect the Fund's performance:</p><p>Interest rate risk, which is the chance that bond prices overall will decline because of rising interest rates. Interest rate risk should be high for the Fund because it invests primarily in long-term bonds, whose prices are much more sensitive to interest rate changes than are the prices of short-term bonds.</p><p>Credit risk, which is the chance that a bond issuer will fail to pay interest and principal in a timely manner, or that negative perceptions of the issuer's ability to make such payments will cause the price of that bond to decline. Credit risk should be moderate for the Fund.</p><p>Income risk, which is the chance that the Fund's income will decline because of falling interest rates. Income risk is generally low for long-term bond funds.</p><p>Index sampling risk, which is the chance that the securities selected for the Fund, in the aggregate, will not provide investment performance matching that of the Fund's target index. Index sampling risk for the Fund should be low.</p><p>An investment in the Fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.</p> <p>The Fund employs an indexing investment approach designed to track the performance of the Barclays U.S. 10+ Year Corporate Bond Index. This index includes U.S. dollar-denominated, investment-grade, fixed-rate, taxable securities issued by industrial, utility, and financial companies, with maturities greater than 10 years.</p><p>The Fund invests by sampling the Index, meaning that it holds a range of securities that, in the aggregate, approximates the full Index in terms of key risk factors and other characteristics. All of the Fund's investments will be selected through the sampling process, and at least 80% of the Fund's assets will be invested in bonds included in the Index. The Fund maintains a dollar-weighted average maturity consistent with that of the Index, which, as of August 31, 2012, was 24.6 years.</p> <p>An investment in the Fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.</p> <p>The following bar chart and table are intended to help you understand the risks of investing in the Fund.</p> <p>800-662-7447</p> <p>vanguard.com/performance </p> <p>Keep in mind that the Fund's past performance (before and after taxes) does not indicate how the Fund will perform in the future. </p> <p>When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption.</p> <p>Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan.</p> <p>Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares will be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder.</p> <p>The following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows the performance of the Fund's Signal Shares (including operating expenses but excluding shareholder fees) in its first full calendar year. The table shows how the average annual total returns (including operating expenses and any applicable shareholder fees) compare with those of the Fund's target index, which has investment characteristics similar to those of the Fund. Keep in mind that the Fund's past performance does not indicate how the Fund will perform in the future. Updated performance information is available on our website at vanguard.com/performance or by calling Vanguard toll-free at 800-662-7447.</p> <p>Example</p> <p>The following example is intended to help you compare the cost of investing in the Fund's Signal Shares with the cost of investing in other mutual funds. It illustrates the hypothetical expenses that you would incur over various periods if you invest $10,000 in the Fund's shares. This example assumes that the Shares provide a return of 5% a year and that total annual fund operating expenses remain as stated in the preceding table. The results apply whether or not you redeem your investment at the end of the given period. Although your actual costs may be higher or lower, based on these assumptions your costs would be:</p> <p>The following table describes the fees and expenses you may pay if you buy and hold Signal Shares of the Fund.</p> <p>The Fund seeks to track the performance of a market-weighted corporate bond index with a long-term dollar-weighted average maturity.</p> <p>Portfolio Turnover</p> <p>The Fund pays transaction costs, such as commissions, when it buys and sells securities (or 'turns over' its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in more taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the previous expense example, reduce the Fund's performance. During the most recent fiscal year, the Fund's portfolio turnover rate was 71%. </p> <p>An investment in the Fund could lose money over short or even long periods. </p> <p>An investment in the Fund could lose money over short or even long periods. You should expect the Fund's share price and total return to fluctuate within a wide range, like the fluctuations of the overall bond market. The Fund is subject to the following risks, which could affect the Fund's performance:</p><p>Interest rate risk, which is the chance that bond prices overall will decline because of rising interest rates. Interest rate risk should be high for the Fund because it invests primarily in long-term bonds, whose prices are much more sensitive to interest rate changes than are the prices of short-term bonds.</p><p>Credit risk, which is the chance that a bond issuer will fail to pay interest and principal in a timely manner, or that negative perceptions of the issuer's ability to make such payments will cause the price of that bond to decline. Credit risk should be moderate for the Fund.</p><p>Income risk, which is the chance that the Fund's income will decline because of falling interest rates. Income risk is generally low for long-term bond funds.</p><p>Index sampling risk, which is the chance that the securities selected for the Fund, in the aggregate, will not provide investment performance matching that of the Fund's target index. Index sampling risk for the Fund should be low.</p><p>An investment in the Fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.</p> <p>The Fund employs an indexing investment approach designed to track the performance of the Barclays U.S. 10+ Year Corporate Bond Index. This index includes U.S. dollar-denominated, investment-grade, fixed-rate, taxable securities issued by industrial, utility, and financial companies, with maturities greater than 10 years.</p><p>The Fund invests by sampling the Index, meaning that it holds a range of securities that, in the aggregate, approximates the full Index in terms of key risk factors and other characteristics. All of the Fund's investments will be selected through the sampling process, and at least 80% of the Fund's assets will be invested in bonds included in the Index. The Fund maintains a dollar-weighted average maturity consistent with that of the Index, which, as of August 31, 2011, was 24.6 years.</p> <p>An investment in the Fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.</p> <p>The following bar chart and table are intended to help you understand the risks of investing in the Fund.</p> <p>The bar chart shows the performance of the Fund's Signal Shares (including operating expenses but excluding shareholder fees) in their first full calendar year.</p> <p>800-662-7447</p> <p>vanguard.com/performance </p> <p>Keep in mind that the Fund's past performance does not indicate how the Fund will perform in the future.</p> <p>The following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows the performance of the Fund's Signal Shares (including operating expenses but excluding shareholder fees) in its first full calendar year. The table shows how the average annual total returns of the Signal Shares (including operating expenses and any applicable shareholder fees) compare with those of the Fund's target index, which has investment characteristics similar to those of the Fund. Keep in mind that the Fund's past performance (before and after taxes) does not indicate how the Fund will perform in the future. Updated performance information is available on our website at vanguard.com/performance or by calling Vanguard toll-free at 800-662-7447.</p> <p>Example</p> <p>The following example is intended to help you compare the cost of investing in the Fund's Signal Shares with the cost of investing in other mutual funds. It illustrates the hypothetical expenses that you would incur over various periods if you invest $10,000 in the Fund's shares. This example assumes that the Shares provide a return of 5% a year and that total annual fund operating expenses remain as stated in the preceding table. The results apply whether or not you redeem your investment at the end of the given period. Although your actual costs may be higher or lower, based on these assumptions your costs would be:</p> <p>The following table describes the fees and expenses you may pay if you buy and hold Signal Shares of the Fund.</p> <p>The Fund seeks to track the performance of a market-weighted corporate bond index with a long-term dollar-weighted average maturity.</p> <p>Actual after-tax returns depend on your tax situation and may differ from those shown in the preceding table. When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations. Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares will be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder.</p> <p>Portfolio Turnover</p> <p>The Fund pays transaction costs, such as commissions, when it buys and sells securities (or 'turns over' its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in more taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the previous expense example, reduce the Fund's performance. During the most recent fiscal year, the Fund's portfolio turnover rate was 71%. </p> <p>An investment in the Fund could lose money over short or even long periods. </p> <p>An investment in the Fund could lose money over short or even long periods. You should expect the Fund's share price and total return to fluctuate within a wide range, like the fluctuations of the overall bond market. The Fund is subject to the following risks, which could affect the Fund's performance:</p><p>Interest rate risk, which is the chance that bond prices overall will decline because of rising interest rates. Interest rate risk should be high for the Fund because it invests primarily in long-term bonds, whose prices are much more sensitive to interest rate changes than are the prices of short-term bonds.</p><p>Credit risk, which is the chance that a bond issuer will fail to pay interest and principal in a timely manner, or that negative perceptions of the issuer's ability to make such payments will cause the price of that bond to decline. Credit risk should be moderate for the Fund.</p><p>Income risk, which is the chance that the Fund's income will decline because of falling interest rates. Income risk is generally low for long-term bond funds.</p><p>Index sampling risk, which is the chance that the securities selected for the Fund, in the aggregate, will not provide investment performance matching that of the Fund's target index. Index sampling risk for the Fund should be low.</p><p>An investment in the Fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.</p> <p>The Fund employs an indexing investment approach designed to track the performance of the Barclays U.S. 10+ Year Corporate Bond Index. This index includes U.S. dollar-denominated, investment-grade, fixed-rate, taxable securities issued by industrial, utility, and financial companies, with maturities greater than 10 years.</p><p>The Fund invests by sampling the Index, meaning that it holds a range of securities that, in the aggregate, approximates the full Index in terms of key risk factors and other characteristics. All of the Fund's investments will be selected through the sampling process, and at least 80% of the Fund's assets will be invested in bonds included in the Index. The Fund maintains a dollar-weighted average maturity consistent with that of the Index, which, as of August 31, 2012, was 24.6 years.</p> <p>An investment in the Fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.</p> <p>The following bar chart and table are intended to help you understand the risks of investing in the Fund.</p> <p>The bar chart shows the performance of the Fund's Signal Shares (including operating expenses but excluding shareholder fees) in their first full calendar year.</p> <p>800-662-7447</p> <p>vanguard.com/performance </p> <p>Keep in mind that the Fund's past performance (before and after taxes) does not indicate how the Fund will perform in the future. </p> <p>When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption.</p> <p>Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan.</p> <p>Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares will be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder.</p> <div style="display:none">~ http://vanguard/role/S000026864ShareholderFeesInstitutional column period compact * column rr_ProspectusShareClassAxis compact * row primary compact * row dei_LegalEntityAxis compact vanguard_S000026864Member ~ </div> <div style="display:none">~ http://vanguard/role/S000026864ShareholderFeesSignal column period compact * column rr_ProspectusShareClassAxis compact * row primary compact * row dei_LegalEntityAxis compact vanguard_S000026864Member ~ </div> <div style="display:none">~ http://vanguard/role/S000026864ShareholderFeesParticipant column period compact * column rr_ProspectusShareClassAxis compact * row primary compact * row dei_LegalEntityAxis compact vanguard_S000026864Member ~ </div> <div style="display:none">~ http://vanguard/role/S000026864ShareholderFeesETF column period compact * column rr_ProspectusShareClassAxis compact * row primary compact * row dei_LegalEntityAxis compact vanguard_S000026864Member ~ </div> <div style="display:none">~ http://vanguard/role/S000026864PerformanceTableDataInstitutional column primary compact * row dei_LegalEntityAxis compact vanguard_S000026864Member row rr_ProspectusShareClassAxis compact * row rr_PerformanceMeasureAxis compact * ~ </div> <div style="display:none">~ http://vanguard/role/S000026864PerformanceTableDataSignal column primary compact * row dei_LegalEntityAxis compact vanguard_S000026864Member row rr_ProspectusShareClassAxis compact * row rr_PerformanceMeasureAxis compact * ~ </div> <div style="display:none">~ http://vanguard/role/S000026864PerformanceTableDataParticipant column primary compact * row dei_LegalEntityAxis compact vanguard_S000026864Member row rr_ProspectusShareClassAxis compact * row rr_PerformanceMeasureAxis compact * ~ </div> <div style="display:none">~ http://vanguard/role/S000026864PerformanceTableDataETF column primary compact * row dei_LegalEntityAxis compact vanguard_S000026864Member row rr_ProspectusShareClassAxis compact * row rr_PerformanceMeasureAxis compact * ~ </div> <div style="display:none">~ http://vanguard/role/S000026864OperatingExpensesInstitutional column period compact * column rr_ProspectusShareClassAxis compact * row primary compact * row dei_LegalEntityAxis compact vanguard_S000026864Member ~ </div> <div style="display:none">~ http://vanguard/role/S000026864OperatingExpensesETF column period compact * column rr_ProspectusShareClassAxis compact * row primary compact * row dei_LegalEntityAxis compact vanguard_S000026864Member ~ </div> <div style="display:none">~ http://vanguard/role/S000026864OperatingExpensesSignal column period compact * column rr_ProspectusShareClassAxis compact * row primary compact * row dei_LegalEntityAxis compact vanguard_S000026864Member ~ </div> <div style="display:none">~ http://vanguard/role/S000026864OperatingExpensesParticipant column period compact * column rr_ProspectusShareClassAxis compact * row primary compact * row dei_LegalEntityAxis compact vanguard_S000026864Member ~ </div> <div style="display:none">~ http://vanguard/role/S000026864ExpenseExampleNoRedemptionInstitutional column period compact * column rr_ProspectusShareClassAxis compact * row primary compact * row dei_LegalEntityAxis compact vanguard_S000026864Member ~ </div> <div style="display:none">~ http://vanguard/role/S000026864ExpenseExampleNoRedemptionETF column period compact * column rr_ProspectusShareClassAxis compact * row primary compact * row dei_LegalEntityAxis compact vanguard_S000026864Member ~ </div> <div style="display:none">~ http://vanguard/role/S000026864ExpenseExampleNoRedemptionSignal column period compact * column rr_ProspectusShareClassAxis compact * row primary compact * row dei_LegalEntityAxis compact vanguard_S000026864Member ~ </div> <div style="display:none">~ http://vanguard/role/S000026864ExpenseExampleNoRedemptionParticipant column period compact * column rr_ProspectusShareClassAxis compact * row primary compact * row dei_LegalEntityAxis compact vanguard_S000026864Member ~ </div> Shareholder Fees (Fees paid directly from your investment) Shareholder Fees (Fees paid directly from your investment) Shareholder Fees (Fees paid directly from your investment) Shareholder Fees (Fees paid directly from your investment) Annual Fund Operating Expenses (Expenses that you pay each year as a percentage of the value of your investment) Annual Fund Operating Expenses (Expenses that you pay each year as a percentage of the value of your investment) Annual Fund Operating Expenses (Expenses that you pay each year as a percentage of the value of your investment) Annual Fund Operating Expenses (Expenses that you pay each year as a percentage of the value of your investment) Average Annual Total Returns for Periods Ended December 31, 2011 Average Annual Total Returns for Periods Ended December 31, 2011 Average Annual Total Returns for Periods Ended December 31, 2011 Average Annual Total Returns for Periods Ended December 31, 2011 Annual Total Returns Fees and Expenses Investment Objective Primary Risks Risk/Return Primary Investment Strategies 0.46 2012-12-21 (reflects no deduction for fees, expenses or taxes) Annual Total Returns Fees and Expenses Investment Objective Primary Risks Risk/Return Primary Investment Strategies 0.46 2012-12-21 (reflects no deduction for fees, expenses or taxes) Annual Total Returns Fees and Expenses Investment Objective Primary Risks Risk/Return Primary Investment Strategies 0.46 2012-12-21 (reflects no deduction for fees or expenses) Annual Total Returns Fees and Expenses Investment Objective Primary Risks Risk/Return Primary Investment Strategies 0.46 2012-12-21 (reflects no deduction for fees or expenses) <p>The following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund's ETF Shares (based on NAV) has varied from one calendar year to another over the periods shown. The table shows how the average annual total returns of the ETF Shares compare with those of the Fund's target index, which has investment characterstics similar to those of the Fund. Keep in mind that the Fund's past performance (before and after taxes) does not indicate how the Fund will perform in the future. Updated performance information is available on our website at vanguard.com/performance or by calling Vanguard toll-free at800-662-7447.</p> <p>This example does not include the brokerage commissions that you may pay to buy and sell ETF Shares of the Fund. </p> <p>Example</p> <p>The following example is intended to help you compare the cost of investing in Long-Term Government Bond ETF with the cost of investing in other funds. It illustrates the hypothetical expenses that you would incur over various periods if you invest $10,000 in Long-Term Government Bond ETF. This example assumes that Long-Term Government Bond ETF provides a return of 5% a year and that total annual fund operating expenses remain as stated in the preceding table. The results apply whether or not you redeem your investment at the end of the given period. Although your actual costs may be higher or lower, based on these assumptions your costs would be:</p> <p>The following table describes the fees and expenses you may pay if you buy and hold ETF Shares of the Fund.</p> <p>The Fund seeks to track the performance of a market-weighted government bond index with a long-term dollar-weighted average maturity.</p> <p>Actual after-tax returns depend on your tax situation and may differ from those shown in the preceding table. When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations. Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares will be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder.</p> <p>Portfolio Turnover</p> <p>The Fund pays transaction costs, such as commissions, when it buys and sells securities (or 'turns over' its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in more taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the previous expense example, reduce the Fund's performance. During the most recent fiscal year, the Fund's portfolio turnover rate was 46%. </p> <p>An investment in the Fund could lose money over short or even long periods. </p> <p>An investment in the Fund could lose money over short or even long periods. You should expect the Fund's share price and total return to fluctuate within a wide range, like the fluctuations of the overall bond market. The Fund is subject to the following risks, which could affect the Fund's performance:</p><p>Interest rate risk, which is the chance that bond prices overall will decline because of rising interest rates. Interest rate risk should be high for the Fund because it invests primarily in long-term bonds, whose prices are much more sensitive to interest rate changes than are the prices of short-term bonds.</p><p>Income risk, which is the chance that the Fund's income will decline because of falling interest rates. Income risk is generally low for long-term bond funds.</p><p>Credit risk, which is the chance that a bond issuer will fail to pay interest and principal in a timely manner, or that negative perceptions of the issuer's ability to make such payments will cause the price of that bond to decline. Credit risk should be very low for the Fund because it invests only in bonds issued by the U.S. Treasury or U.S. government agencies and instrumentalities.</p><p>Index sampling risk, which is the chance that the securities selected for the Fund, in the aggregate, will not provide investment performance matching that of the Fund's target index. Index sampling risk for the Fund should be low.</p><p>Because ETF Shares are traded on an exchange, they are subject to additional risks:</p><p>Long-Term Government Bond ETF Shares are listed for trading on Nasdaq and can be bought and sold on the secondary market at market prices. Although it is expected that the market price of a Long-Term Government Bond ETF Share typically will approximate its net asset value (NAV), there may be times when the market price and the NAV vary significantly. Thus, you may pay more or less than NAV when you buy Long-Term Government Bond ETF Shares on the secondary market, and you may receive more or less than NAV when you sell those shares.</p><p>Although Long-Term Government Bond ETF Shares are listed for trading on Nasdaq, it is possible that an active trading market may not be maintained.</p><p>Trading of Long-Term Government Bond ETF Shares on Nasdaq may be halted by the activation of individual or marketwide 'circuit breakers' (which halt trading for a specific period of time when the price of a particular security or overall market prices decline by a specified percentage). Trading of Long-Term Government Bond ETF Shares may also be halted if (1) the shares are delisted from Nasdaq without first being listed on another exchange or (2) Nasdaq officials determine that such action is appropriate in the interest of a fair and orderly market or to protect investors.</p><p>An investment in the Fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.</p> <p>The Fund employs an indexing investment approach designed to track the performance of the Barclays U.S. Long Government Float Adjusted Index. This Index includes fixed income securities issued by the U.S. Treasury (not including inflation-protected bonds) and U.S. government agencies and instrumentalities, as well as corporate or dollar-denominated foreign debt guaranteed by the U.S. government, with maturities greater than 10 years.</p><p>The Fund invests by sampling the Index, meaning that it holds a range of securities that, in the aggregate, approximates the full Index in terms of key risk factors and other characteristics. All of the Fund's investments will be selected through the sampling process, and at least 80% of the Fund's assets will be invested in bonds included in the Index. The Fund maintains a dollar-weighted average maturity consistent with that of the Index, which, as of August 31, 2012, was 24.1 years.</p> <p>An investment in the Fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.</p> <p>The following bar chart and table are intended to help you understand the risks of investing in the Fund.</p> <p>800-662-7447</p> <p>vanguard.com/performance </p> <p>Keep in mind that the Fund's past performance (before and after taxes) does not indicate how the Fund will perform in the future. </p> <p>When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption.</p> <p>Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan.</p> <p>Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares will be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder.</p> <p>The following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows the performance of the Fund's Institutional Shares in their first full calendar year. The table shows how the average annual total returns of the Institutional Shares compare with those of the Fund's target index, which has investment characteristics similar to those of the Fund. Keep in mind that the Fund's past performance (before and after taxes) does not indicate how the Fund will perform in the future. Updated performance information is available on our website at vanguard.com/performance or by calling Vanguard toll-free at 800-662-7447.</p> <p>Example</p> <p>The following example is intended to help you compare the cost of investing in the Fund's Institutional Shares with the cost of investing in other mutual funds. It illustrates the hypothetical expenses that you would incur over various periods if you invest $10,000 in the Fund's shares. This example assumes that the Shares provide a return of 5% a year and that total annual fund operating expenses remain as stated in the preceding table. The results apply whether or not you redeem your investment at the end of the given period. Although your actual costs may be higher or lower, based on these assumptions your costs would be:</p> <p>The following table describes the fees and expenses you may pay if you buy and hold Institutional Shares of the Fund.</p> <p>The Fund seeks to track the performance of a market-weighted government bond index with a long-term dollar-weighted average maturity.</p> <p>Actual after-tax returns depend on your tax situation and may differ from those shown in the preceding table. When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations. Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares will be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder.</p> <p>Portfolio Turnover</p> <p>The Fund pays transaction costs, such as commissions, when it buys and sells securities (or 'turns over' its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in more taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the previous expense example, reduce the Fund's performance. During the most recent fiscal year, the Fund's portfolio turnover rate was 46%. </p> <p>An investment in the Fund could lose money over short or even long periods. </p> <p>An investment in the Fund could lose money over short or even long periods. You should expect the Fund's share price and total return to fluctuate within a wide range, like the fluctuations of the overall bond market. The Fund is subject to the following risks, which could affect the Fund's performance:</p><p>Interest rate risk, which is the chance that bond prices overall will decline because of rising interest rates. Interest rate risk should be high for the Fund because it invests primarily in long-term bonds, whose prices are much more sensitive to interest rate changes than are the prices of short-term bonds.</p><p>Income risk, which is the chance that the Fund's income will decline because of falling interest rates. Income risk is generally low for long-term bond funds.</p><p>Credit risk, which is the chance that a bond issuer will fail to pay interest and principal in a timely manner, or that negative perceptions of the issuer's ability to make such payments will cause the price of that bond to decline. Credit risk should be very low for the Fund because it invests only in bonds issued by the U.S. Treasury or U.S. government agencies and instrumentalities.</p><p>Index sampling risk, which is the chance that the securities selected for the Fund, in the aggregate, will not provide investment performance matching that of the Fund's target index. Index sampling risk for the Fund should be low.</p><p>An investment in the Fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.</p> <p>The Fund employs an indexing investment approach designed to track the performance of the Barclays U.S. Long Government Float Adjusted Index. This Index includes fixed income securities issued by the U.S. Treasury (not including inflation-protected bonds) and U.S. government agencies and instrumentalities, as well as corporate or dollar-denominated foreign debt guaranteed by the U.S. government, with maturities greater than 10 years.</p><p>The Fund invests by sampling the Index, meaning that it holds a range of securities that, in the aggregate, approximates the full Index in terms of key risk factors and other characteristics. All of the Fund's investments will be selected through the sampling process, and at least 80% of the Fund's assets will be invested in bonds included in the Index. The Fund maintains a dollar-weighted average maturity consistent with that of the Index, which, as of August 31, 2012, was 24.1 years.</p> <p>An investment in the Fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.</p> <p>The following bar chart and table are intended to help you understand the risks of investing in the Fund.</p> <p>The bar chart shows the performance of the Fund's Institutional Shares in their first full calendar year.</p> <p>800-662-7447</p> <p>vanguard.com/performance </p> <p>Keep in mind that the Fund's past performance (before and after taxes) does not indicate how the Fund will perform in the future. </p> <p>When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption.</p> <p>Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan.</p> <p>Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares will be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder.</p> <p>The following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows the performance of the Fund's Signal Shares in their first full calendar year. The table shows how the average annual total returns compare with those of the Fund's target index, which has investment characteristics similar to those of the Fund. Keep in mind that the Fund's past performance does not indicate how the Fund will perform in the future. Updated performance information is available online at vanguard.com/performance or by calling Vanguard toll-free at 800-662-7447.</p> <p>Example</p> <p>The following example is intended to help you compare the cost of investing in the Fund's Signal Shares with the cost of investing in other mutual funds. It illustrates the hypothetical expenses that you would incur over various periods if you invest $10,000 in the Fund's shares. This example assumes that the Shares provide a return of 5% a year and that total annual fund operating expenses remain as stated in the preceding table. The results apply whether or not you redeem your investment at the end of the given period. Although your actual costs may be higher or lower, based on these assumptions your costs would be:</p> <p>The following table describes the fees and expenses you may pay if you buy and hold Signal Shares of the Fund.</p> <p>The Fund seeks to track the performance of a market-weighted government bond index with a long-term dollar-weighted average maturity.</p> <p>Portfolio Turnover</p> <p>The Fund pays transaction costs, such as commissions, when it buys and sells securities (or 'turns over' its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in more taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the previous expense example, reduce the Fund's performance. During the most recent fiscal year, the Fund's portfolio turnover rate was 46%. </p> <p>An investment in the Fund could lose money over short or even long periods. </p> <p>An investment in the Fund could lose money over short or even long periods. You should expect the Fund's share price and total return to fluctuate within a wide range, like the fluctuations of the overall bond market. The Fund is subject to the following risks, which could affect the Fund's performance:</p><p>Interest rate risk, which is the chance that bond prices overall will decline because of rising interest rates. Interest rate risk should be high for the Fund because it invests primarily in long-term bonds, whose prices are much more sensitive to interest rate changes than are the prices of short-term bonds.</p><p>Income risk, which is the chance that the Fund's income will decline because of falling interest rates. Income risk is generally low for long-term bond funds.</p><p>Credit risk, which is the chance that a bond issuer will fail to pay interest and principal in a timely manner, or that negative perceptions of the issuer's ability to make such payments will cause the price of that bond to decline. Credit risk should be very low for the Fund because it invests only in bonds issued by the U.S. Treasury or U.S. government agencies and instrumentalities.</p><p>Index sampling risk, which is the chance that the securities selected for the Fund, in the aggregate, will not provide investment performance matching that of the Fund's target index. Index sampling risk for the Fund should be low.</p><p>An investment in the Fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.</p> <p>The Fund employs an indexing investment approach designed to track the performance of the Barclays U.S. Long Government Float Adjusted Index. This Index includes fixed income securities issued by the U.S. Treasury (not including inflation-protected bonds) and U.S. government agencies and instrumentalities, as well as corporate or dollar-denominated foreign debt guaranteed by the U.S. government, with maturities greater than 10 years.</p><p>The Fund invests by sampling the Index, meaning that it holds a range of securities that, in the aggregate, approximates the full Index in terms of key risk factors and other characteristics. All of the Fund's investments will be selected through the sampling process, and at least 80% of the Fund's assets will be invested in bonds included in the Index. The Fund maintains a dollar-weighted average maturity consistent with that of the Index, which, as of August 31, 2012, was 24.1 years.</p> <p>An investment in the Fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.</p> <p>The following bar chart and table are intended to help you understand the risks of investing in the Fund.</p> <p>The bar chart shows the performance of the Fund's Signal Shares in their first full calendar year.</p> <p>800-662-7447</p> <p>vanguard.com/performance </p> <p>Keep in mind that the Fund's past performance does not indicate how the Fund will perform in the future.</p> <p>The following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows the performance of the Fund's Signal Shares in their first full calendar year. The table shows how the average annual total returns of the Signal Shares compare with those of the Fund's target index, which has investment characteristics similar to those of the Fund. Keep in mind that the Fund's past performance (before and after taxes) does not indicate how the Fund will perform in the future. Updated performance information is available on our website at vanguard.com/performance or by calling Vanguard toll-free at 800-662-7447.</p> <p>Example</p> <p>The following example is intended to help you compare the cost of investing in the Fund's Signal Shares with the cost of investing in other mutual funds. It illustrates the hypothetical expenses that you would incur over various periods if you invest $10,000 in the Fund's shares. This example assumes that the Shares provide a return of 5% a year and that total annual fund operating expenses remain as stated in the preceding table. The results apply whether or not you redeem your investment at the end of the given period. Although your actual costs may be higher or lower, based on these assumptions your costs would be:</p> <p>The following table describes the fees and expenses you may pay if you buy and hold Signal Shares of the Fund.</p> <p>The Fund seeks to track the performance of a market-weighted government bond index with a long-term dollar-weighted average maturity.</p> <p>Actual after-tax returns depend on your tax situation and may differ from those shown in the preceding table. When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations. Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares will be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder.</p> <p>Portfolio Turnover</p> <p>The Fund pays transaction costs, such as commissions, when it buys and sells securities (or 'turns over' its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in more taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the previous expense example, reduce the Fund's performance. During the most recent fiscal year, the Fund's portfolio turnover rate was 46%. </p> <p>An investment in the Fund could lose money over short or even long periods. </p> <p>An investment in the Fund could lose money over short or even long periods. You should expect the Fund's share price and total return to fluctuate within a wide range, like the fluctuations of the overall bond market. The Fund is subject to the following risks, which could affect the Fund's performance:</p><p>Interest rate risk, which is the chance that bond prices overall will decline because of rising interest rates. Interest rate risk should be high for the Fund because it invests primarily in long-term bonds, whose prices are much more sensitive to interest rate changes than are the prices of short-term bonds.</p><p>Income risk, which is the chance that the Fund's income will decline because of falling interest rates. Income risk is generally low for long-term bond funds.</p><p>Credit risk, which is the chance that a bond issuer will fail to pay interest and principal in a timely manner, or that negative perceptions of the issuer's ability to make such payments will cause the price of that bond to decline. Credit risk should be very low for the Fund because it invests only in bonds issued by the U.S. Treasury or U.S. government agencies and instrumentalities.</p><p>Index sampling risk, which is the chance that the securities selected for the Fund, in the aggregate, will not provide investment performance matching that of the Fund's target index. Index sampling risk for the Fund should be low.</p><p>An investment in the Fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.</p> <p>The Fund employs an indexing investment approach designed to track the performance of the Barclays U.S. Long Government Float Adjusted Index. This Index includes fixed income securities issued by the U.S. Treasury (not including inflation-protected bonds) and U.S. government agencies and instrumentalities, as well as corporate or dollar-denominated foreign debt guaranteed by the U.S. government, with maturities greater than 10 years.</p><p>The Fund invests by sampling the Index, meaning that it holds a range of securities that, in the aggregate, approximates the full Index in terms of key risk factors and other characteristics. All of the Fund's investments will be selected through the sampling process, and at least 80% of the Fund's assets will be invested in bonds included in the Index. The Fund maintains a dollar-weighted average maturity consistent with that of the Index, which, as of August 31, 2012, was 24.1 years.</p> <p>An investment in the Fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.</p> <p>The following bar chart and table are intended to help you understand the risks of investing in the Fund.</p> <p>The bar chart shows the performance of the Fund's Signal Shares in their first full calendar year.</p> <p>800-662-7447</p> <p>vanguard.com/performance </p> <p>Keep in mind that the Fund's past performance (before and after taxes) does not indicate how the Fund will perform in the future. </p> <p>When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption.</p> <p>Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan.</p> <p>Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares will be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder.</p> <div style="display:none">~ http://vanguard/role/S000026861ShareholderFeesInstitutional column period compact * column rr_ProspectusShareClassAxis compact * row primary compact * row dei_LegalEntityAxis compact vanguard_S000026861Member ~ </div> <div style="display:none">~ http://vanguard/role/S000026861ShareholderFeesSignal column period compact * column rr_ProspectusShareClassAxis compact * row primary compact * row dei_LegalEntityAxis compact vanguard_S000026861Member ~ </div> <div style="display:none">~ http://vanguard/role/S000026861ShareholderFeesParticipant column period compact * column rr_ProspectusShareClassAxis compact * row primary compact * row dei_LegalEntityAxis compact vanguard_S000026861Member ~ </div> <div style="display:none">~ http://vanguard/role/S000026861ShareholderFeesETF column period compact * column rr_ProspectusShareClassAxis compact * row primary compact * row dei_LegalEntityAxis compact vanguard_S000026861Member ~ </div> <div style="display:none">~ http://vanguard/role/S000026861PerformanceTableDataInstitutional column primary compact * row dei_LegalEntityAxis compact vanguard_S000026861Member row rr_ProspectusShareClassAxis compact * row rr_PerformanceMeasureAxis compact * ~ </div> <div style="display:none">~ http://vanguard/role/S000026861PerformanceTableDataSignal column primary compact * row dei_LegalEntityAxis compact vanguard_S000026861Member row rr_ProspectusShareClassAxis compact * row rr_PerformanceMeasureAxis compact * ~ </div> <div style="display:none">~ http://vanguard/role/S000026861PerformanceTableDataParticipant column primary compact * row dei_LegalEntityAxis compact vanguard_S000026861Member row rr_ProspectusShareClassAxis compact * row rr_PerformanceMeasureAxis compact * ~ </div> <div style="display:none">~ http://vanguard/role/S000026861PerformanceTableDataETF column primary compact * row dei_LegalEntityAxis compact vanguard_S000026861Member row rr_ProspectusShareClassAxis compact * row rr_PerformanceMeasureAxis compact * ~ </div> <div style="display:none">~ http://vanguard/role/S000026861OperatingExpensesInstitutional column period compact * column rr_ProspectusShareClassAxis compact * row primary compact * row dei_LegalEntityAxis compact vanguard_S000026861Member ~ </div> <div style="display:none">~ http://vanguard/role/S000026861OperatingExpensesETF column period compact * column rr_ProspectusShareClassAxis compact * row primary compact * row dei_LegalEntityAxis compact vanguard_S000026861Member ~ </div> <div style="display:none">~ http://vanguard/role/S000026861OperatingExpensesSignal column period compact * column rr_ProspectusShareClassAxis compact * row primary compact * row dei_LegalEntityAxis compact vanguard_S000026861Member ~ </div> <div style="display:none">~ http://vanguard/role/S000026861OperatingExpensesParticipant column period compact * column rr_ProspectusShareClassAxis compact * row primary compact * row dei_LegalEntityAxis compact vanguard_S000026861Member ~ </div> <div style="display:none">~ http://vanguard/role/S000026861ExpenseExampleNoRedemptionInstitutional column period compact * column rr_ProspectusShareClassAxis compact * row primary compact * row dei_LegalEntityAxis compact vanguard_S000026861Member ~ </div> <div style="display:none">~ http://vanguard/role/S000026861ExpenseExampleNoRedemptionETF column period compact * column rr_ProspectusShareClassAxis compact * row primary compact * row dei_LegalEntityAxis compact vanguard_S000026861Member ~ </div> <div style="display:none">~ http://vanguard/role/S000026861ExpenseExampleNoRedemptionSignal column period compact * column rr_ProspectusShareClassAxis compact * row primary compact * row dei_LegalEntityAxis compact vanguard_S000026861Member ~ </div> <div style="display:none">~ http://vanguard/role/S000026861ExpenseExampleNoRedemptionParticipant column period compact * column rr_ProspectusShareClassAxis compact * row primary compact * row dei_LegalEntityAxis compact vanguard_S000026861Member ~ </div> Shareholder Fees (Fees paid directly from your investment) Shareholder Fees (Fees paid directly from your investment) Shareholder Fees (Fees paid directly from your investment) Shareholder Fees (Fees paid directly from your investment) Annual Fund Operating Expenses (Expenses that you pay each year as a percentage of the value of your investment) Annual Fund Operating Expenses (Expenses that you pay each year as a percentage of the value of your investment) Annual Fund Operating Expenses (Expenses that you pay each year as a percentage of the value of your investment) Annual Fund Operating Expenses (Expenses that you pay each year as a percentage of the value of your investment) Average Annual Total Returns for Periods Ended December 31, 2011 Average Annual Total Returns for Periods Ended December 31, 2011 Average Annual Total Returns for Periods Ended December 31, 2011 Average Annual Total Returns for Periods Ended December 31, 2011 Annual Total Returns Fees and Expenses Investment Objective Primary Risks Risk/Return Primary Investment Strategies 5.29 2012-12-21 (reflects no deduction for fees, expenses or taxes) Annual Total Returns Fees and Expenses Investment Objective Primary Risks Risk/Return Primary Investment Strategies 5.29 2012-12-21 (reflects no deduction for fees, expenses or taxes) Annual Total Returns Fees and Expenses Investment Objective Primary Risks Risk/Return Primary Investment Strategies 5.29 2012-12-21 (reflects no deduction for fee or expenses) Annual Total Returns Fees and Expenses Investment Objective Primary Risks Risk/Return Primary Investment Strategies 5.29 2012-12-21 (reflects no deduction for fees, expenses or taxes) <p>The following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund's ETF Shares (based on NAV) has varied from one calendar year to another over the periods shown. The table shows how the average annual total returns of the ETF Shares compare with those of the Fund's target index, which has investment characterstics similar to those of the Fund. Keep in mind that the Fund's past performance (before and after taxes) does not indicate how the Fund will perform in the future. Updated performance information is available on our website at vanguard.com/performance or by calling Vanguard toll-free at800-662-7447.</p> <p>This example does not include the brokerage commissions that you may pay to buy and sell ETF Shares of the Fund. </p> <p>Example</p> <p>The following example is intended to help you compare the cost of investing in Mortgage-Backed Securities ETF with the cost of investing in other funds. It illustrates the hypothetical expenses that you would incur over various periods if you invest $10,000 in Mortgage-Backed Securities ETF. This example assumes that Mortgage-Backed Securities ETF provides a return of 5% a year and that total annual fund operating expenses remain as stated in the preceding table. The results apply whether or not you redeem your investment at the end of the given period. Although your actual costs may be higher or lower, based on these assumptions your costs would be:</p> <p>The following table describes the fees and expenses you may pay if you buy and hold ETF Shares of the Fund.</p> <p>The Fund seeks to track the performance of a market-weighted mortgage-backed securities index.</p> <p>Actual after-tax returns depend on your tax situation and may differ from those shown in the preceding table. When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations. Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares will be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder.</p> <p>Portfolio Turnover</p> <p>The Fund pays transaction costs, such as commissions, when it buys and sells securities (or 'turns over' its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in more taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the previous expense example, reduce the Fund's performance. During the most recent fiscal year, the Fund's portfolio turnover rate was 529%. </p> <p>An investment in the Fund could lose money over short or even long periods. </p> <p>An investment in the Fund could lose money over short or even long periods. You should expect the Fund's share price and total return to fluctuate within a wide range, like the fluctuations of the overall bond market. The Fund is subject to the following risks, which could affect the Fund's performance:</p><p>Prepayment risk, which is the chance that during periods of falling interest rates, homeowners will refinance their mortgages before their maturity dates, resulting in prepayment of mortgage-backed securities held by the Fund. The Fund would then lose any price appreciation above the mortgage's principal and would be forced to reinvest the unanticipated proceeds at lower interest rates, resulting in a decline in the Fund's income. Prepayment risk, which is a type of call risk, is high for the Fund.</p><p>Interest rate risk, which is the chance that bond prices overall will decline because of rising interest rates. In addition, when interest rates decline, mortgage-backed securities' prices typically do not rise as much as the prices of comparable bonds. This is because the market tends to discount mortgage-backed securities' prices for prepayment risk when interest rates decline. Interest rate risk should be moderate for the Fund.</p><p>Income risk, which is the chance that the Fund's income will decline because of falling interest rates. Income risk is generally moderate for intermediate-term bond funds, so investors should expect the Fund's monthly income to fluctuate accordingly.</p><p>Credit risk, which is the chance that the issuer of a mortgage-backed security will fail to pay interest and principal in a timely manner, or that negative perceptions of the issuer's ability to make such payments will cause the price of that bond to decline. Credit risk should be very low for the Fund because it invests in securities issued by U.S. government agencies and instrumentalities, including many securities backed by the full faith and credit of the U.S. government.</p><p>Index sampling risk, which is the chance that the securities selected for the Fund, in the aggregate, will not provide investment performance matching that of the Fund's target index. Index sampling risk for the Fund should be low.</p><p>Because ETF Shares are traded on an exchange, they are subject to additional risks:</p><p>Mortgage-Backed Securities ETF Shares are listed for trading on Nasdaq and are bought and sold on the secondary market at market prices. Although it is expected that the market price of a Mortgage-Backed Securities ETF Share typically will approximate its net asset value (NAV), there may be times when the market price and the NAV differ significantly. Thus, you may pay more or less than NAV when you buy Mortgage-Backed Securities ETF Shares on the secondary market, and you may receive more or less than NAV when you sell those shares.</p><p>Although Mortgage-Backed Securities ETF Shares are listed for trading on Nasdaq, it is possible that an active trading market may not be maintained.</p><p>Trading of Mortgage-Backed Securities ETF Shares on Nasdaq may be halted by the activation of individual or marketwide 'circuit breakers' (which halt trading for a specific period of time when the price of a particular security or overall market prices decline by a specified percentage). Trading of Mortgage-Backed Securities ETF Shares may also be halted if (1) the shares are delisted from Nasdaq without first being listed on another exchange or (2) Nasdaq officials determine that such action is appropriate in the interest of a fair and orderly market or to protect investors.</p><p>An investment in the Fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.</p> <p>The Fund employs an indexing investment approach designed to track the performance of the Barclays U.S. MBS Float Adjusted Index. This index covers U.S. agency mortgage-backed pass-through securities issued by the Government National Mortgage Association (GNMA), the Federal National Mortgage Association (FNMA), and the Federal Home Loan Mortgage Corporation (FHLMC). To be included in the Index, pool aggregates must have at least $250 million currently outstanding and a weighted average maturity of at least 1 year.</p><p>The Fund invests by sampling the Index, meaning that it holds a range of securities that, in the aggregate, approximates the full Index in terms of key risk factors and other characteristics. All of the Fund's investments will be selected through the sampling process, and at least 80% of the Fund's assets will be invested in bonds included in the Index. The Fund maintains a dollar-weighted average maturity consistent with that of the Index, which, as of August 31, 2012, was 4.5 years.</p> <p>An investment in the Fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.</p> <p>The following bar chart and table are intended to help you understand the risks of investing in the Fund.</p> <p>800-662-7447</p> <p>vanguard.com/performance </p> <p>Keep in mind that the Fund's past performance (before and after taxes) does not indicate how the Fund will perform in the future. </p> <p>When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption.</p> <p>Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan.</p> <p>Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares will be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder.</p> <p>The following bar chart and table are intended to help you understand the risks of investing in the Fund. Because there is no calendar-year performance information for the Fund's Institutional Shares, the information presented in the bar chart and table reflects the performance of the Signal Shares of Vanguard Government Bond Index Funds and the Mortgage-Backed Securities Index Fund. (Signal Shares are offered through a separate prospectus.) Performance based on net asset value for the Institutional Shares Shares would be substantially similar because both share classes constitute an investment in the same portfolio of securities; their returns generally should differ only to the extent that the expenses of the two classes differ. The bar chart shows how the performance of the Fund's Signal Shares has varied from one calendar year to another over the periods shown. The table shows how the average annual total returns of the Signal Shares compare with those of the Fund's target index, which has investment characteristics similar to those of the Fund. Keep in mind that the Fund's past performance (before and after taxes) does not indicate how the Fund will perform in the future. Updated performance information is available online at vanguard.com or by calling 800-662-7447.</p> <p>Example</p> <p>The following example is intended to help you compare the cost of investing in the Fund's Institutional Shares with the cost of investing in other mutual funds. It illustrates the hypothetical expenses that you would incur over various periods if you invest $10,000 in the Fund's shares. This example assumes that the Shares provide a return of 5% a year and that total annual fund operating expenses remain as stated in the preceding table. The results apply whether or not you redeem your investment at the end of the given period. Although your actual costs may be higher or lower, based on these assumptions your costs would be:</p> <p>The following table describes the fees and expenses you may pay if you buy and hold Institutional Shares of the Fund.</p> <p>The Fund seeks to track the performance of a market-weighted mortgage-backed securities index.</p> <p>Actual after-tax returns depend on your tax situation and may differ from those shown in the preceding table. When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations. Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares will be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder.</p> <p>Portfolio Turnover</p> <p>The Fund pays transaction costs, such as commissions, when it buys and sells securities (or 'turns over' its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in more taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the previous expense example, reduce the Fund's performance. During the most recent fiscal year, the Fund's portfolio turnover rate was 529%. </p> <p>An investment in the Fund could lose money over short or even long periods. </p> <p>An investment in the Fund could lose money over short or even long periods. You should expect the Fund's share price and total return to fluctuate within a wide range, like the fluctuations of the overall bond market. The Fund is subject to the following risks, which could affect the Fund's performance:</p><p>Prepayment risk, which is the chance that during periods of falling interest rates, homeowners will refinance their mortgages before their maturity dates, resulting in prepayment of mortgage-backed securities held by the Fund. The Fund would then lose any price appreciation above the mortgage's principal and would be forced to reinvest the unanticipated proceeds at lower interest rates, resulting in a decline in the Fund's income. Prepayment risk, which is a type of call risk, is high for the Fund.</p><p>Income risk, which is the chance that the Fund's income will decline because of falling interest rates. Income risk is generally moderate for intermediate-term bond funds, so investors should expect the Fund's monthly income to fluctuate accordingly.</p><p>Interest rate risk, which is the chance that bond prices overall will decline because of rising interest rates. In addition, when interest rates decline, mortgage-backed securities' prices typically do not rise as much as the prices of comparable bonds. This is because the market tends to discount mortgage-backed securities' prices for prepayment risk when interest rates decline. Interest rate risk should be moderate for the Fund.</p><p>Credit risk, which is the chance that the issuer of a mortgage-backed security will fail to pay interest and principal in a timely manner, or that negative perceptions of the issuer's ability to make such payments will cause the price of that bond to decline. Credit risk should be very low for the Fund because it invests in securities issued by U.S. government agencies and instrumentalities, including many securities backed by the full faith and credit of the U.S. government.</p><p>Index sampling risk, which is the chance that the securities selected for the Fund, in the aggregate, will not provide investment performance matching that of the Fund's target index. Index sampling risk for the Fund should be low.</p><p>An investment in the Fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.</p> <p>The Fund employs an indexing investment approach designed to track the performance of the Barclays U.S. MBS Float Adjusted Index. This index covers U.S. agency mortgage-backed pass-through securities issued by the Government National Mortgage Association (GNMA), the Federal National Mortgage Association (FNMA), and the Federal Home Loan Mortgage Corporation (FHLMC). To be included in the Index, pool aggregates must have at least $250 million currently outstanding and a weighted average maturity of at least 1 year.</p><p>The Fund invests by sampling the Index, meaning that it holds a range of securities that, in the aggregate, approximates the full Index in terms of key risk factors and other characteristics. All of the Fund's investments will be selected through the sampling process, and at least 80% of the Fund's assets will be invested in bonds included in the Index. The Fund maintains a dollar-weighted average maturity consistent with that of the Index, which, as of August 31, 2012, was 4.5 years.</p> <p>An investment in the Fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.</p> <p>The following bar chart and table are intended to help you understand the risks of investing in the Fund.</p> <p>Because there is no calendar-year performance information for the Fund's Institutional Shares, the information presented in the bar chart and table reflects the performance of the Signal Shares </p> <p>800-662-7447</p> <p>vanguard.com/performance </p> <p>Keep in mind that the Fund's past performance (before and after taxes) does not indicate how the Fund will perform in the future. </p> <p>The bar chart shows how the performance of the Fund's Signal Shares has varied from one calendar year to another over the periods shown. The Fund's Institutional Shares were not available during the time periods shown.</p> <p>When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption.</p> <p>Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan.</p> <p>Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares will be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder.</p> <p>The following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows the performance of the Fund's Signal Shares in its first full calendar year. The table shows how the average annual total returns compare with those of the Fund's target index, which has investment characteristics similar to those of the Fund. Keep in mind that the Fund's past performance does not indicate how the Fund will perform in the future. Updated performance information is available online at vanguard.com/performance or by calling Vanguard toll-free at 800-662-7447.</p> <p>Example</p> <p>The following example is intended to help you compare the cost of investing in the Fund's Signal Shares with the cost of investing in other mutual funds. It illustrates the hypothetical expenses that you would incur over various periods if you invest $10,000 in the Fund's shares. This example assumes that the Shares provide a return of 5% a year and that total annual fund operating expenses remain as stated in the preceding table. The results apply whether or not you redeem your investment at the end of the given period. Although your actual costs may be higher or lower, based on these assumptions your costs would be:</p> <p>The following table describes the fees and expenses you may pay if you buy and hold Signal Shares of the Fund.</p> <p>The Fund seeks to track the performance of a market-weighted mortgage-backed securities index.</p> <p>Portfolio Turnover</p> <p>The Fund pays transaction costs, such as commissions, when it buys and sells securities (or 'turns over' its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in more taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the previous expense example, reduce the Fund's performance. During the most recent fiscal year, the Fund's portfolio turnover rate was 529%. </p> <p>An investment in the Fund could lose money over short or even long periods. </p> <p>An investment in the Fund could lose money over short or even long periods. You should expect the Fund's share price and total return to fluctuate within a wide range, like the fluctuations of the overall bond market. The Fund is subject to the following risks, which could affect the Fund's performance:</p><p>Prepayment risk, which is the chance that during periods of falling interest rates, homeowners will refinance their mortgages before their maturity dates, resulting in prepayment of mortgage-backed securities held by the Fund. The Fund would then lose any price appreciation above the mortgage's principal and would be forced to reinvest the unanticipated proceeds at lower interest rates, resulting in a decline in the Fund's income. Prepayment risk, which is a type of call risk, is high for the Fund.</p><p>Interest rate risk, which is the chance that bond prices overall will decline because of rising interest rates. In addition, when interest rates decline, mortgage-backed securities' prices typically do not rise as much as the prices of comparable bonds. This is because the market tends to discount mortgage-backed securities' prices for prepayment risk when interest rates decline. Interest rate risk should be moderate for the Fund.</p><p>Income risk, which is the chance that the Fund's income will decline because of falling interest rates. Income risk is generally moderate for intermediate-term bond funds, so investors should expect the Fund's monthly income to fluctuate accordingly.</p><p>Credit risk, which is the chance that the issuer of a mortgage-backed security will fail to pay interest and principal in a timely manner, or that negative perceptions of the issuer's ability to make such payments will cause the price of that bond to decline. Credit risk should be very low for the Fund because it invests in securities issued by U.S. government agencies and instrumentalities, including many securities backed by the full faith and credit of the U.S. government.</p><p>Index sampling risk, which is the chance that the securities selected for the Fund, in the aggregate, will not provide investment performance matching that of the Fund's target index. Index sampling risk for the Fund should be low.</p><p>An investment in the Fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.</p> <p>The Fund employs an indexing investment approach designed to track the performance of the Barclays U.S. MBS Float Adjusted Index. This index covers U.S. agency mortgage-backed pass-through securities issued by the Government National Mortgage Association (GNMA), the Federal National Mortgage Association (FNMA), and the Federal Home Loan Mortgage Corporation (FHLMC). To be included in the Index, pool aggregates must have at least $250 million currently outstanding and a weighted average maturity of at least 1 year.</p><p>The Fund invests by sampling the Index, meaning that it holds a range of securities that, in the aggregate, approximates the full Index in terms of key risk factors and other characteristics. All of the Fund's investments will be selected through the sampling process, and at least 80% of the Fund's assets will be invested in bonds included in the Index. The Fund maintains a dollar-weighted average maturity consistent with that of the Index, which, as of August 31, 2012, was 4.5 years.</p> <p>An investment in the Fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.</p> <p>The following bar chart and table are intended to help you understand the risks of investing in the Fund.</p> <p>800-662-7447</p> <p>vanguard.com/performance </p> <p>Keep in mind that the Fund's past performance does not indicate how the Fund will perform in the future.</p> <p>The following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund's Signal Shares has varied from one calendar year to another over the periods shown. The DETERMINE IN BL how the average annual total returns of the Signal Shares compare with those of the Fund's target index, which has investment characteristics similar to those of the Fund. Keep in mind that the Fund's past performance (before and after taxes) does not indicate how the Fund will perform in the future. Updated performance information is available on our website at vanguard.com/performance or by calling Vanguard toll-free at 800-662-7447.</p> <p>Example</p> <p>The following example is intended to help you compare the cost of investing in the Fund's Signal Shares with the cost of investing in other mutual funds. It illustrates the hypothetical expenses that you would incur over various periods if you invest $10,000 in the Fund's shares. This example assumes that the Shares provide a return of 5% a year and that total annual fund operating expenses remain as stated in the preceding table. The results apply whether or not you redeem your investment at the end of the given period. Although your actual costs may be higher or lower, based on these assumptions your costs would be:</p> <p>The following table describes the fees and expenses you may pay if you buy and hold Signal Shares of the Fund.</p> <p>The Fund seeks to track the performance of a market-weighted mortgage-backed securities index.</p> <p>Actual after-tax returns depend on your tax situation and may differ from those shown in the preceding table. When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations. Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares will be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder.</p> <p>Portfolio Turnover</p> <p>The Fund pays transaction costs, such as commissions, when it buys and sells securities (or 'turns over' its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in more taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the previous expense example, reduce the Fund's performance. During the most recent fiscal year, the Fund's portfolio turnover rate was 529%. </p> <p>An investment in the Fund could lose money over short or even long periods. </p> <p>An investment in the Fund could lose money over short or even long periods. You should expect the Fund's share price and total return to fluctuate within a wide range, like the fluctuations of the overall bond market. The Fund is subject to the following risks, which could affect the Fund's performance:</p><p>Prepayment risk, which is the chance that during periods of falling interest rates, homeowners will refinance their mortgages before their maturity dates, resulting in prepayment of mortgage-backed securities held by the Fund. The Fund would then lose any price appreciation above the mortgage's principal and would be forced to reinvest the unanticipated proceeds at lower interest rates, resulting in a decline in the Fund's income. Prepayment risk, which is a type of call risk, is high for the Fund.</p><p>Interest rate risk, which is the chance that bond prices overall will decline because of rising interest rates. In addition, when interest rates decline, mortgage-backed securities' prices typically do not rise as much as the prices of comparable bonds. This is because the market tends to discount mortgage-backed securities' prices for prepayment risk when interest rates decline. Interest rate risk should be moderate for the Fund.</p><p>Income risk, which is the chance that the Fund's income will decline because of falling interest rates. Income risk is generally moderate for intermediate-term bond funds, so investors should expect the Fund's monthly income to fluctuate accordingly.</p><p>Credit risk, which is the chance that the issuer of a mortgage-backed security will fail to pay interest and principal in a timely manner, or that negative perceptions of the issuer's ability to make such payments will cause the price of that bond to decline. Credit risk should be very low for the Fund because it invests in securities issued by U.S. government agencies and instrumentalities, including many securities backed by the full faith and credit of the U.S. government.</p><p>Index sampling risk, which is the chance that the securities selected for the Fund, in the aggregate, will not provide investment performance matching that of the Fund's target index. Index sampling risk for the Fund should be low.</p><p>An investment in the Fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.</p> <p>The Fund employs an indexing investment approach designed to track the performance of the Barclays U.S. MBS Float Adjusted Index. This index covers U.S. agency mortgage-backed pass-through securities issued by the Government National Mortgage Association (GNMA), the Federal National Mortgage Association (FNMA), and the Federal Home Loan Mortgage Corporation (FHLMC). To be included in the Index, pool aggregates must have at least $250 million currently outstanding and a weighted average maturity of at least 1 year.</p><p>The Fund invests by sampling the Index, meaning that it holds a range of securities that, in the aggregate, approximates the full Index in terms of key risk factors and other characteristics. All of the Fund's investments will be selected through the sampling process, and at least 80% of the Fund's assets will be invested in bonds included in the Index. The Fund maintains a dollar-weighted average maturity consistent with that of the Index, which, as of August 31, 2012, was 4.5 years.</p> <p>An investment in the Fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.</p> <p>The following bar chart and table are intended to help you understand the risks of investing in the Fund.</p> <p>800-662-7447</p> <p>vanguard.com/performance </p> <p>Keep in mind that the Fund's past performance (before and after taxes) does not indicate how the Fund will perform in the future. </p> <p>When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption.</p> <p>Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan.</p> <p>Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares will be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder.</p> <div style="display:none">~ http://vanguard/role/S000026865ShareholderFeesInstitutional column period compact * column rr_ProspectusShareClassAxis compact * row primary compact * row dei_LegalEntityAxis compact vanguard_S000026865Member ~ </div> <div style="display:none">~ http://vanguard/role/S000026865ShareholderFeesSignal column period compact * column rr_ProspectusShareClassAxis compact * row primary compact * row dei_LegalEntityAxis compact vanguard_S000026865Member ~ </div> <div style="display:none">~ http://vanguard/role/S000026865ShareholderFeesParticipant column period compact * column rr_ProspectusShareClassAxis compact * row primary compact * row dei_LegalEntityAxis compact vanguard_S000026865Member ~ </div> <div style="display:none">~ http://vanguard/role/S000026865ShareholderFeesETF column period compact * column rr_ProspectusShareClassAxis compact * row primary compact * row dei_LegalEntityAxis compact vanguard_S000026865Member ~ </div> <div style="display:none">~ http://vanguard/role/S000026865PerformanceTableDataSignal column primary compact * row dei_LegalEntityAxis compact vanguard_S000026865Member row rr_ProspectusShareClassAxis compact * row rr_PerformanceMeasureAxis compact * ~ </div> <div style="display:none">~ http://vanguard/role/S000026865PerformanceTableDataParticipant column primary compact * row dei_LegalEntityAxis compact vanguard_S000026865Member row rr_ProspectusShareClassAxis compact * row rr_PerformanceMeasureAxis compact * ~ </div> <div style="display:none">~ http://vanguard/role/S000026865PerformanceTableDataETF column primary compact * row dei_LegalEntityAxis compact vanguard_S000026865Member row rr_ProspectusShareClassAxis compact * row rr_PerformanceMeasureAxis compact * ~ </div> <div style="display:none">~ http://vanguard/role/S000026865PerformanceTableDataInstitutional column primary compact * row dei_LegalEntityAxis compact vanguard_S000026865Member row rr_ProspectusShareClassAxis compact * row rr_PerformanceMeasureAxis compact * ~ </div> <div style="display:none">~ http://vanguard/role/S000026865OperatingExpensesInstitutional column period compact * column rr_ProspectusShareClassAxis compact * row primary compact * row dei_LegalEntityAxis compact vanguard_S000026865Member ~ </div> <div style="display:none">~ http://vanguard/role/S000026865OperatingExpensesETF column period compact * column rr_ProspectusShareClassAxis compact * row primary compact * row dei_LegalEntityAxis compact vanguard_S000026865Member ~ </div> <div style="display:none">~ http://vanguard/role/S000026865OperatingExpensesSignal column period compact * column rr_ProspectusShareClassAxis compact * row primary compact * row dei_LegalEntityAxis compact vanguard_S000026865Member ~ </div> <div style="display:none">~ http://vanguard/role/S000026865OperatingExpensesParticipant column period compact * column rr_ProspectusShareClassAxis compact * row primary compact * row dei_LegalEntityAxis compact vanguard_S000026865Member ~ </div> <div style="display:none">~ http://vanguard/role/S000026865ExpenseExampleNoRedemptionInstitutional column period compact * column rr_ProspectusShareClassAxis compact * row primary compact * row dei_LegalEntityAxis compact vanguard_S000026865Member ~ </div> <div style="display:none">~ http://vanguard/role/S000026865ExpenseExampleNoRedemptionETF column period compact * column rr_ProspectusShareClassAxis compact * row primary compact * row dei_LegalEntityAxis compact vanguard_S000026865Member ~ </div> <div style="display:none">~ http://vanguard/role/S000026865ExpenseExampleNoRedemptionSignal column period compact * column rr_ProspectusShareClassAxis compact * row primary compact * row dei_LegalEntityAxis compact vanguard_S000026865Member ~ </div> <div style="display:none">~ http://vanguard/role/S000026865ExpenseExampleNoRedemptionParticipant column period compact * column rr_ProspectusShareClassAxis compact * row primary compact * row dei_LegalEntityAxis compact vanguard_S000026865Member ~ </div> Shareholder Fees (Fees paid directly from your investment) Shareholder Fees (Fees paid directly from your investment) Annual Fund Operating Expenses (Expenses that you pay each year as a percentage of the value of your investment) Annual Fund Operating Expenses (Expenses that you pay each year as a percentage of the value of your investment) Average Annual Total Returns for Periods Ended December 31, 2011 Average Annual Total Returns for Periods Ended December 31, 2011 Annual Total Returns Fees and Expenses Investment Objective Primary Risks Risk/Return Primary Investment Strategies 0.25 2012-12-21 (reflects no deduction for fees, expenses, or taxes) Annual Total Returns Fees and Expenses Investment Objective Primary Risks Risk/Return Primary Investment Strategies 0.25 2012-12-21 (reflects no deduction for fees, expenses, or taxes) <p>The following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows the performance of the Fund's ETF Shares (based on NAV) in their first full calendar year. The table shows how the average annual total returns of the ETF Shares compare with those of the Fund's target index, which has investment characteristics similar to those of the Fund. Keep in mind that the Fund's past performance (before and after taxes) does not indicate how the Fund will perform in the future. Updated performance information is available on our website at vanguard.com/performance or by calling Vanguard toll-free at800-662-7447.</p> <p>This example does not include the brokerage commissions that you may pay to buy and sell ETF Shares of the Fund. </p> <p>Example</p> <p>The following example is intended to help you compare the cost of investing in Russell 1000 Growth ETF with the cost of investing in other funds. It illustrates the hypothetical expenses that you would incur over various periods if you invest $10,000 in Russell 1000 Growth ETF. This example assumes that Russell 1000 Growth ETF provides a return of 5% a year and that total annual fund operating expenses remain as stated in the preceding table. The results apply whether or not you redeem your investment at the end of the given period. Although your actual costs may be higher or lower, based on these assumptions your costs would be:</p> <p>The following table describes the fees and expenses you may pay if you buy and hold ETF Shares of the Fund.</p> <p>The Fund seeks to track the performance of a benchmark index that measures the investment return of large-capitalization growth stocks in the United States.</p> <p>Actual after-tax returns depend on your tax situation and may differ from those shown in the preceding table. When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations. Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares will be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder.</p> <p>Portfolio Turnover</p> <p>The Fund pays transaction costs, such as commissions, when it buys and sells securities (or 'turns over' its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in more taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the previous expense example, reduce the Fund's performance. During the most recent fiscal year, the Fund's portfolio turnover rate was 25%. </p> <p>An investment in the Fund could lose money over short or even long periods. </p> <p>An investment in the Fund could lose money over short or even long periods. You should expect the Fund's share price and total return to fluctuate within a wide range, like the fluctuations of the overall stock market. The Fund is subject to the following risks, which could affect the Fund's performance:</p><p>Stock market risk, which is the chance that stock prices overall will decline. Stock markets tend to move in cycles, with periods of rising prices and periods of falling prices. The Fund's target index may, at times, become focused in stocks of a particular sector, category, or group of companies, which could cause the Fund to underperform the overall stock market.</p><p>Investment style risk, which is the chance that returns from large-capitalization growth stocks will trail returns from the overall stock market. Large-cap growth stocks tend to go through cycles of doing better-or worse-than other segments of the stock market or the stock market in general. These periods have, in the past, lasted for as long as several years.</p><p>Because ETF Shares are traded on an exchange, they are subject to additional risks:</p><p>Russell 1000 Growth ETF Shares are listed for trading on Nasdaq and are bought and sold on the secondary market at market prices. Although it is expected that the market price of a Russell 1000 Growth ETF Share typically will approximate its net asset value (NAV), there may be times when the market price and the NAV differ significantly. Thus, you may pay more or less than NAV when you buy Russell 1000 Growth ETF Shares on the secondary market, and you may receive more or less than NAV when you sell those shares.</p><p>Although Russell 1000 Growth ETF Shares are listed for trading on Nasdaq, it is possible that an active trading market may not be maintained.</p><p>Trading of Russell 1000 Growth ETF Shares on Nasdaq may be halted by the activation of individual or marketwide 'circuit breakers' (which halt trading for a specific period of time when the price of a particular security or overall market prices decline by a specified percentage). Trading of Russell 1000 Growth ETF Shares may also be halted if (1) the shares are delisted from Nasdaq without first being listed on another exchange or (2) Nasdaq officals determine that such action is appropriate in the interest of a fair and orderly market or to protect investors.</p><p>An investment in the Fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.</p> <p>The Fund employs an indexing investment approach designed to track the performance of the Russell 1000(r) Growth Index. The Index is designed to measure the performance of large-capitalization growth stocks in the United States. The Fund 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.</p> <p>An investment in the Fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.</p> <p>The following bar chart and table are intended to help you understand the risks of investing in the Fund.</p> <p>The bar chart shows the performance of the Fund's ETF Shares in their first full calendar year.</p> <p>800-662-7447</p> <p>vanguard.com/performance </p> <p>Keep in mind that the Fund's past performance (before and after taxes) does not indicate how the Fund will perform in the future. </p> <p>When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption.</p> <p>Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan.</p> <p>Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares will be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder.</p> <p>The following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows the performance of the Fund's Institutional Shares in their first full calendar year. The table shows how the average annual total returns of the Institutional Shares compare with those of the Fund's target index, which has investment characteristics similar to those of the Fund. Keep in mind that the Fund's past performance (before and after taxes) does not indicate how the Fund will perform in the future. Updated performance information is available on our website at vanguard.com/performance or by calling Vanguard toll-free at800-662-7447.</p> <p>Example</p> <p>The following example is intended to help you compare the cost of investing in the Fund's Institutional Shares with the cost of investing in other mutual funds. It illustrates the hypothetical expenses that you would incur over various periods if you invest $10,000 in the Fund's shares. This example assumes that the Shares provide a return of 5% a year and that total annual fund operating expenses remain as stated in the preceding table. The results apply whether or not you redeem your investment at the end of the given period. Although your actual costs may be higher or lower, based on these assumptions your costs would be:</p> <p>The following table describes the fees and expenses you may pay if you buy and hold Institutional Shares of the Fund.</p> <p>The Fund seeks to track the performance of a benchmark index that measures the investment return of large-capitalization growth stocks in the United States.</p> <p>Actual after-tax returns depend on your tax situation and may differ from those shown in the preceding table. When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations. Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares will be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder.</p> <p>Portfolio Turnover</p> <p>The Fund pays transaction costs, such as commissions, when it buys and sells securities (or 'turns over' its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in more taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the previous expense example, reduce the Fund's performance. During the most recent fiscal year, the Fund's portfolio turnover rate was 25%. </p> <p>An investment in the Fund could lose money over short or even long periods. </p> <p>An investment in the Fund could lose money over short or even long periods. You should expect the Fund's share price and total return to fluctuate within a wide range, like the fluctuations of the overall stock market. The Fund is subject to the following risks, which could affect the Fund's performance:</p><p>Stock market risk, which is the chance that stock prices overall will decline. Stock markets tend to move in cycles, with periods of rising prices and periods of falling prices. The Fund's target index may, at times, become focused in stocks of a particular sector, category, or group of companies, which could cause the Fund to underperform the overall stock market.</p><p>Investment style risk, which is the chance that returns from large-capitalization growth stocks will trail returns from the overall stock market. Large-cap growth stocks tend to go through cycles of doing better-or worse-than other segments of the stock market or the stock market in general. These periods have, in the past, lasted for as long as several years.</p><p>An investment in the Fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.</p> <p>The Fund employs an indexing investment approach designed to track the performance of the Russell 1000(r) Growth Index. The Index is designed to measure the performance of large-capitalization growth stocks in the United States. The Fund 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.</p> <p>An investment in the Fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.</p> <p>The following bar chart and table are intended to help you understand the risks of investing in the Fund.</p> <p>The bar chart shows the performance of the Fund's Institutional Shares in their first full calendar year.</p> <p>800-662-7447</p> <p>vanguard.com/performance </p> <p>Keep in mind that the Fund's past performance (before and after taxes) does not indicate how the Fund will perform in the future. </p> <p>When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption.</p> <p>Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan.</p> <p>Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares will be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder.</p> <div style="display:none">~ http://vanguard/role/S000030002ShareholderFeesInstitutional column period compact * column rr_ProspectusShareClassAxis compact * row primary compact * row dei_LegalEntityAxis compact vanguard_S000030002Member ~ </div> <div style="display:none">~ http://vanguard/role/S000030002ShareholderFeesETF column period compact * column rr_ProspectusShareClassAxis compact * row primary compact * row dei_LegalEntityAxis compact vanguard_S000030002Member ~ </div> <div style="display:none">~ http://vanguard/role/S000030002PerformanceTableDataInstitutional column primary compact * row dei_LegalEntityAxis compact vanguard_S000030002Member row rr_ProspectusShareClassAxis compact * row rr_PerformanceMeasureAxis compact * ~ </div> <div style="display:none">~ http://vanguard/role/S000030002PerformanceTableDataETF column primary compact * row dei_LegalEntityAxis compact vanguard_S000030002Member row rr_ProspectusShareClassAxis compact * row rr_PerformanceMeasureAxis compact * ~ </div> <div style="display:none">~ http://vanguard/role/S000030002OperatingExpensesETF column period compact * column rr_ProspectusShareClassAxis compact * row primary compact * row dei_LegalEntityAxis compact vanguard_S000030002Member ~ </div> <div style="display:none">~ http://vanguard/role/S000030002OperatingExpensesInstitutional column period compact * column rr_ProspectusShareClassAxis compact * row primary compact * row dei_LegalEntityAxis compact vanguard_S000030002Member ~ </div> <div style="display:none">~ http://vanguard/role/S000030002ExpenseExampleNoRedemptionETF column period compact * column rr_ProspectusShareClassAxis compact * row primary compact * row dei_LegalEntityAxis compact vanguard_S000030002Member ~ </div> <div style="display:none">~ http://vanguard/role/S000030002ExpenseExampleNoRedemptionInstitutional column period compact * column rr_ProspectusShareClassAxis compact * row primary compact * row dei_LegalEntityAxis compact vanguard_S000030002Member ~ </div> Shareholder Fees (Fees paid directly from your investment) Shareholder Fees (Fees paid directly from your investment) Annual Fund Operating Expenses (Expenses that you pay each year as a percentage of the value of your investment) Annual Fund Operating Expenses (Expenses that you pay each year as a percentage of the value of your investment) Average Annual Total Returns for Periods Ended December 31, 2011 Average Annual Total Returns for Periods Ended December 31, 2011 Annual Total Returns Fees and Expenses Investment Objective Primary Risks Risk/Return Primary Investment Strategies 0.36 2012-12-21 (reflects no deduction for fees, expenses, or taxes) Annual Total Returns Fees and Expenses Investment Objective Primary Risks Risk/Return Primary Investment Strategies 0.36 2012-12-21 (reflects no deduction for fees, expenses, or taxes) <p>The following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows the performance of the Fund's ETF Shares (based on NAV) in their first full calendar year. The table shows how the average annual total returns of the ETF Shares compare with those of the Fund's target index, which has investment characteristics similar to those of the Fund. Keep in mind that the Fund's past performance (before and after taxes) does not indicate how the Fund will perform in the future. Updated performance information is available on our website at vanguard.com/performance or by calling Vanguard toll-free at800-662-7447.</p> <p>This example does not include the brokerage commissions that you may pay to buy and sell ETF Shares of the Fund. </p> <p>Example</p> <p>The following example is intended to help you compare the cost of investing in Russell 1000 ETF with the cost of investing in other funds. It illustrates the hypothetical expenses that you would incur over various periods if you invest $10,000 in Russell 1000 ETF. This example assumes that Russell 1000 ETF provides a return of 5% a year and that total annual fund operating expenses remain as stated in the preceding table. The results apply whether or not you redeem your investment at the end of the given period. Although your actual costs may be higher or lower, based on these assumptions your costs would be:</p> <p>The following table describes the fees and expenses you may pay if you buy and hold ETF Shares of the Fund.</p> <p>The Fund seeks to track the performance of a benchmark index that measures the investment return of large-capitalization stocks in the United States.</p> <p>Actual after-tax returns depend on your tax situation and may differ from those shown in the preceding table. When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations. Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares will be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder.</p> <p>Portfolio Turnover</p> <p>The Fund pays transaction costs, such as commissions, when it buys and sells securities (or 'turns over' its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in more taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the previous expense example, reduce the Fund's performance. During the most recent fiscal year, the Fund's portfolio turnover rate was 36%. </p> <p>An investment in the Fund could lose money over short or even long periods. </p> <p>An investment in the Fund could lose money over short or even long periods. You should expect the Fund's share price and total return to fluctuate within a wide range, like the fluctuations of the overall stock market. The Fund is subject to the following risks, which could affect the Fund's performance:</p><p>Stock market risk, which is the chance that stock prices overall will decline. Stock markets tend to move in cycles, with periods of rising prices and periods of falling prices. The Fund's target index may, at times, become focused in stocks of a particular sector, category, or group of companies, which could cause the Fund to underperform the overall stock market.</p><p>Investment style risk, which is the chance that returns from large-capitalization stocks will trail returns from the overall stock market. Large-cap stocks tend to go through cycles of doing better-or worse-than other segments of the stock market or the stock market in general. These periods have, in the past, lasted for as long as several years.</p><p>Because ETF Shares are traded on an exchange, they are subject to additional risks:</p><p>Russell 1000 ETF Shares are listed for trading on Nasdaq and are bought and sold on the secondary market at market prices. Although it is expected that the market price of a Russell 1000 ETF Share typically will approximate its net asset value (NAV), there may be times when the market price and the NAV differ significantly. Thus, you may pay more or less than NAV when you buy Russell 1000 ETF Shares on the secondary market, and you may receive more or less than NAV when you sell those shares.</p><p>Although Russell 1000 ETF Shares are listed for trading on Nasdaq, it is possible that an active trading market may not be maintained.</p><p>Trading of Russell 1000 ETF Shares on Nasdaq may be halted by the activation of individual or marketwide 'circuit breakers' (which halt trading for a specific period of time when the price of a particular security or overall market prices decline by a specified percentage). Trading of Russell 1000 ETF Shares may also be halted if (1) the shares are delisted from Nasdaq without first being listed on another exchange or (2) Nasdaq officals determine that such action is appropriate in the interest of a fair and orderly market or to protect investors.</p><p>An investment in the Fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.</p> <p>The Fund employs an indexing investment approach designed to track the performance of the Russell 1000(r) Index. The Index is designed to measure the performance of large-capitalization stocks in the United States. The Fund 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.</p> <p>An investment in the Fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.</p> <p>The following bar chart and table are intended to help you understand the risks of investing in the Fund.</p> <p>The bar chart shows the performance of the Fund's ETF Shares in their first full calendar year.</p> <p>800-662-7447</p> <p>vanguard.com/performance </p> <p>Keep in mind that the Fund's past performance (before and after taxes) does not indicate how the Fund will perform in the future. </p> <p>When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption.</p> <p>Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan.</p> <p>Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares will be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder.</p> <p>The following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows the performance of the Fund's Institutional Shares in their first full calendar year. The table shows how the average annual total returns of the Institutional Shares compare with those of the Fund's target index, which has investment characteristics similar to those of the Fund. Keep in mind that the Fund's past performance (before and after taxes) does not indicate how the Fund will perform in the future. Updated performance information is available on our website at vanguard.com/performance or by calling Vanguard toll-free at800-662-7447.</p> <p>Example</p> <p>The following example is intended to help you compare the cost of investing in the Fund's Institutional Shares with the cost of investing in other mutual funds. It illustrates the hypothetical expenses that you would incur over various periods if you invest $10,000 in the Fund's shares. This example assumes that the Shares provide a return of 5% a year and that total annual fund operating expenses remain as stated in the preceding table. The results apply whether or not you redeem your investment at the end of the given period. Although your actual costs may be higher or lower, based on these assumptions your costs would be:</p> <p>The following table describes the fees and expenses you may pay if you buy and hold Institutional Shares of the Fund.</p> <p>The Fund seeks to track the performance of a benchmark index that measures the investment return of large-capitalization stocks in the United States.</p> <p>Actual after-tax returns depend on your tax situation and may differ from those shown in the preceding table. When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations. Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares will be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder.</p> <p>Portfolio Turnover</p> <p>The Fund pays transaction costs, such as commissions, when it buys and sells securities (or 'turns over' its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in more taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the previous expense example, reduce the Fund's performance. During the most recent fiscal year, the Fund's portfolio turnover rate was 36%. </p> <p>An investment in the Fund could lose money over short or even long periods. </p> <p>An investment in the Fund could lose money over short or even long periods. You should expect the Fund's share price and total return to fluctuate within a wide range, like the fluctuations of the overall stock market. The Fund is subject to the following risks, which could affect the Fund's performance:</p><p>Stock market risk, which is the chance that stock prices overall will decline. Stock markets tend to move in cycles, with periods of rising prices and periods of falling prices. The Fund's target index may, at times, become focused in stocks of a particular sector, category, or group of companies, which could cause the Fund to underperform the overall stock market.</p><p>Investment style risk, which is the chance that returns from large-capitalization stocks will trail returns from the overall stock market. Large-cap stocks tend to go through cycles of doing better-or worse-than other segments of the stock market or the stock market in general. These periods have, in the past, lasted for as long as several years.</p><p>An investment in the Fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.</p> <p>The Fund employs an indexing investment approach designed to track the performance of the Russell 1000(r) Index. The Index is designed to measure the performance of large-capitalization stocks in the United States. The Fund 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.</p> <p>An investment in the Fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.</p> <p>The following bar chart and table are intended to help you understand the risks of investing in the Fund.</p> <p>The bar chart shows the performance of the Fund's Institutional Shares in their first full calendar year.</p> <p>800-662-7447</p> <p>vanguard.com/performance </p> <p>Keep in mind that the Fund's past performance (before and after taxes) does not indicate how the Fund will perform in the future. </p> <p>When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption.</p> <p>Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan.</p> <p>Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares will be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder.</p> <div style="display:none">~ http://vanguard/role/S000030000ShareholderFeesInstitutional column period compact * column rr_ProspectusShareClassAxis compact * row primary compact * row dei_LegalEntityAxis compact vanguard_S000030000Member ~ </div> <div style="display:none">~ http://vanguard/role/S000030000ShareholderFeesETF column period compact * column rr_ProspectusShareClassAxis compact * row primary compact * row dei_LegalEntityAxis compact vanguard_S000030000Member ~ </div> <div style="display:none">~ http://vanguard/role/S000030000PerformanceTableDataInstitutional column primary compact * row dei_LegalEntityAxis compact vanguard_S000030000Member row rr_ProspectusShareClassAxis compact * row rr_PerformanceMeasureAxis compact * ~ </div> <div style="display:none">~ http://vanguard/role/S000030000PerformanceTableDataETF column primary compact * row dei_LegalEntityAxis compact vanguard_S000030000Member row rr_ProspectusShareClassAxis compact * row rr_PerformanceMeasureAxis compact * ~ </div> <div style="display:none">~ http://vanguard/role/S000030000OperatingExpensesInstitutional column period compact * column rr_ProspectusShareClassAxis compact * row primary compact * row dei_LegalEntityAxis compact vanguard_S000030000Member ~ </div> <div style="display:none">~ http://vanguard/role/S000030000OperatingExpensesETF column period compact * column rr_ProspectusShareClassAxis compact * row primary compact * row dei_LegalEntityAxis compact vanguard_S000030000Member ~ </div> <div style="display:none">~ http://vanguard/role/S000030000ExpenseExampleNoRedemptionInstitutional column period compact * column rr_ProspectusShareClassAxis compact * row primary compact * row dei_LegalEntityAxis compact vanguard_S000030000Member ~ </div> <div style="display:none">~ http://vanguard/role/S000030000ExpenseExampleNoRedemptionETF column period compact * column rr_ProspectusShareClassAxis compact * row primary compact * row dei_LegalEntityAxis compact vanguard_S000030000Member ~ </div> Shareholder Fees (Fees paid directly from your investment) Shareholder Fees (Fees paid directly from your investment) Annual Fund Operating Expenses (Expenses that you pay each year as a percentage of the value of your investment) Annual Fund Operating Expenses (Expenses that you pay each year as a percentage of the value of your investment) Average Annual Total Returns for Periods Ended December 31, 2011 Average Annual Total Returns for Periods Ended December 31, 2011 Annual Total Returns Fees and Expenses Investment Objective Primary Risks Risk/Return Primary Investment Strategies 0.29 2012-12-21 (reflects no deduction for fees, expenses, or taxes) Annual Total Returns Fees and Expenses Investment Objective Primary Risks Risk/Return Primary Investment Strategies 0.29 2012-12-21 (reflects no deduction for fees, expenses, or taxes) <p>The following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows the performance of the Fund's ETF Shares (based on NAV) in their first full calendar year. The table shows how the average annual total returns of the ETF Shares compare with those of the Fund's target index, which has investment characteristics similar to those of the Fund. Keep in mind that the Fund's past performance (before and after taxes) does not indicate how the Fund will perform in the future. Updated performance information is available on our website at vanguard.com/performance or by calling Vanguard toll-free at800-662-7447.</p> <p>This example does not include the brokerage commissions that you may pay to buy and sell ETF Shares of the Fund. </p> <p>Example</p> <p>The following example is intended to help you compare the cost of investing in Russell 1000 Value ETF with the cost of investing in other funds. It illustrates the hypothetical expenses that you would incur over various periods if you invest $10,000 in Russell 1000 Value ETF. This example assumes that Russell 1000 Value ETF provides a return of 5% a year and that total annual fund operating expenses remain as stated in the preceding table. The results apply whether or not you redeem your investment at the end of the given period. Although your actual costs may be higher or lower, based on these assumptions your costs would be:</p> <p>The following table describes the fees and expenses you may pay if you buy and hold ETF Shares of the Fund.</p> <p>The Fund seeks to track the performance of a benchmark index that measures the investment return of large-capitalization value stocks in the United States.</p> <p>Actual after-tax returns depend on your tax situation and may differ from those shown in the preceding table. When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations. Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares will be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder.</p> <p>Portfolio Turnover</p> <p>The Fund pays transaction costs, such as commissions, when it buys and sells securities (or 'turns over' its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in more taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the previous expense example, reduce the Fund's performance. During the most recent fiscal year, the Fund's portfolio turnover rate was 29%. </p> <p>An investment in the Fund could lose money over short or even long periods. </p> <p>An investment in the Fund could lose money over short or even long periods. You should expect the Fund's share price and total return to fluctuate within a wide range, like the fluctuations of the overall stock market. The Fund is subject to the following risks, which could affect the Fund's performance:</p><p>Stock market risk, which is the chance that stock prices overall will decline. Stock markets tend to move in cycles, with periods of rising prices and periods of falling prices. The Fund's target index may, at times, become focused in stocks of a particular sector, category, or group of companies, which could cause the Fund to underperform the overall stock market.</p><p>Investment style risk, which is the chance that returns from large-capitalization value stocks will trail returns from the overall stock market. Large-cap value stocks tend to go through cycles of doing better-or worse-than other segments of the stock market or the stock market in general. These periods have, in the past, lasted for as long as several years.</p><p>Because ETF Shares are traded on an exchange, they are subject to additional risks:</p><p>Russell 1000 Value ETF Shares are listed for trading on Nasdaq and are bought and sold on the secondary market at market prices. Although it is expected that the market price of a Russell 1000 Value ETF Share typically will approximate its net asset value (NAV), there may be times when the market price and the NAV differ significantly. Thus, you may pay more or less than NAV when you buy Russell 1000 Value ETF Shares on the secondary market, and you may receive more or less than NAV when you sell those shares.</p><p>Although Russell 1000 Value ETF Shares are listed for trading on Nasdaq, it is possible that an active trading market may not be maintained.</p><p>Trading of Russell 1000 Value ETF Shares on Nasdaq may be halted by the activation of individual or marketwide 'circuit breakers' (which halt trading for a specific period of time when the price of a particular security or overall market prices decline by a specified percentage). Trading of Russell 1000 Value ETF Shares may also be halted if (1) the shares are delisted from Nasdaq without first being listed on another exchange or (2) Nasdaq officals determine that such action is appropriate in the interest of a fair and orderly market or to protect investors.</p><p>An investment in the Fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.</p> <p>The Fund employs an indexing investment approach designed to track the performance of the Russell 1000(r) Value Index. The Index is designed to measure the performance of large-capitalization value stocks in the United States. The Fund 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.</p> <p>An investment in the Fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.</p> <p>The following bar chart and table are intended to help you understand the risks of investing in the Fund.</p> <p>The bar chart shows the performance of the Fund's ETF Shares in their first full calendar year.</p> <p>800-662-7447</p> <p>vanguard.com/performance </p> <p>Keep in mind that the Fund's past performance (before and after taxes) does not indicate how the Fund will perform in the future. </p> <p>When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption.</p> <p>Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan.</p> <p>Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares will be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder.</p> <p>The following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows the performance of the Fund's Institutional Shares in their first full calendar year. The table shows how the average annual total returns of the Institutional Shares compare with those of the Fund's target index, which has investment characteristics similar to those of the Fund. Keep in mind that the Fund's past performance (before and after taxes) does not indicate how the Fund will perform in the future. Updated performance information is available on our website at vanguard.com/performance or by calling Vanguard toll-free at800-662-7447.</p> <p>Example</p> <p>The following example is intended to help you compare the cost of investing in the Fund's Institutional Shares with the cost of investing in other mutual funds. It illustrates the hypothetical expenses that you would incur over various periods if you invest $10,000 in the Fund's shares. This example assumes that the Shares provide a return of 5% a year and that total annual fund operating expenses remain as stated in the preceding table. The results apply whether or not you redeem your investment at the end of the given period. Although your actual costs may be higher or lower, based on these assumptions your costs would be:</p> <p>The following table describes the fees and expenses you may pay if you buy and hold Institutional Shares of the Fund.</p> <p>The Fund seeks to track the performance of a benchmark index that measures the investment return of large-capitalization value stocks in the United States.</p> <p>Actual after-tax returns depend on your tax situation and may differ from those shown in the preceding table. When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations. Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares will be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder.</p> <p>Portfolio Turnover</p> <p>The Fund pays transaction costs, such as commissions, when it buys and sells securities (or 'turns over' its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in more taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the previous expense example, reduce the Fund's performance. During the most recent fiscal year, the Fund's portfolio turnover rate was 29%. </p> <p>An investment in the Fund could lose money over short or even long periods. </p> <p>An investment in the Fund could lose money over short or even long periods. You should expect the Fund's share price and total return to fluctuate within a wide range, like the fluctuations of the overall stock market. The Fund is subject to the following risks, which could affect the Fund's performance:</p><p>Stock market risk, which is the chance that stock prices overall will decline. Stock markets tend to move in cycles, with periods of rising prices and periods of falling prices. The Fund's target index may, at times, become focused in stocks of a particular sector, category, or group of companies, which could cause the Fund to underperform the overall stock market.</p><p>Investment style risk, which is the chance that returns from large-capitalization value stocks will trail returns from the overall stock market. Large-cap value stocks tend to go through cycles of doing better-or worse-than other segments of the stock market or the stock market in general. These periods have, in the past, lasted for as long as several years.</p><p>An investment in the Fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.</p> <p>The Fund employs an indexing investment approach designed to track the performance of the Russell 1000(r) Value Index. The Index is designed to measure the performance of large-capitalization value stocks in the United States. The Fund 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.</p> <p>An investment in the Fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.</p> <p>The following bar chart and table are intended to help you understand the risks of investing in the Fund.</p> <p>The bar chart shows the performance of the Fund's Institutional Shares in their first full calendar year.</p> <p>800-662-7447</p> <p>vanguard.com/performance </p> <p>Keep in mind that the Fund's past performance (before and after taxes) does not indicate how the Fund will perform in the future. </p> <p>When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption.</p> <p>Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan.</p> <p>Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares will be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder.</p> <div style="display:none">~ http://vanguard/role/S000030001ShareholderFeesInstitutional column period compact * column rr_ProspectusShareClassAxis compact * row primary compact * row dei_LegalEntityAxis compact vanguard_S000030001Member ~ </div> <div style="display:none">~ http://vanguard/role/S000030001ShareholderFeesETF column period compact * column rr_ProspectusShareClassAxis compact * row primary compact * row dei_LegalEntityAxis compact vanguard_S000030001Member ~ </div> <div style="display:none">~ http://vanguard/role/S000030001PerformanceTableDataInstitutional column primary compact * row dei_LegalEntityAxis compact vanguard_S000030001Member row rr_ProspectusShareClassAxis compact * row rr_PerformanceMeasureAxis compact * ~ </div> <div style="display:none">~ http://vanguard/role/S000030001PerformanceTableDataETF column primary compact * row dei_LegalEntityAxis compact vanguard_S000030001Member row rr_ProspectusShareClassAxis compact * row rr_PerformanceMeasureAxis compact * ~ </div> <div style="display:none">~ http://vanguard/role/S000030001OperatingExpensesETF column period compact * column rr_ProspectusShareClassAxis compact * row primary compact * row dei_LegalEntityAxis compact vanguard_S000030001Member ~ </div> <div style="display:none">~ http://vanguard/role/S000030001OperatingExpensesInstitutional column period compact * column rr_ProspectusShareClassAxis compact * row primary compact * row dei_LegalEntityAxis compact vanguard_S000030001Member ~ </div> <div style="display:none">~ http://vanguard/role/S000030001ExpenseExampleNoRedemptionETF column period compact * column rr_ProspectusShareClassAxis compact * row primary compact * row dei_LegalEntityAxis compact vanguard_S000030001Member ~ </div> <div style="display:none">~ http://vanguard/role/S000030001ExpenseExampleNoRedemptionInstitutional column period compact * column rr_ProspectusShareClassAxis compact * row primary compact * row dei_LegalEntityAxis compact vanguard_S000030001Member ~ </div> Shareholder Fees (Fees paid directly from your investment) Shareholder Fees (Fees paid directly from your investment) Annual Fund Operating Expenses (Expenses that you pay each year as a percentage of the value of your investment) Annual Fund Operating Expenses (Expenses that you pay each year as a percentage of the value of your investment) Average Annual Total Returns for Periods Ended December 31, 2011 Average Annual Total Returns for Periods Ended December 31, 2011 Annual Total Returns Fees and Expenses Investment Objective Primary Risks Risk/Return Primary Investment Strategies 0.51 2012-12-21 (reflects no deduction for fees, expenses, or taxes) Annual Total Returns Fees and Expenses Investment Objective Primary Risks Risk/Return Primary Investment Strategies 0.51 2012-12-21 (reflects no deduction for fees, expenses, or taxes) <p>The following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows the performance of the Fund's ETF Shares (based on NAV) in their first full calendar year. The table shows how the average annual total returns of the ETF Shares compare with those of the Fund's target index, which has investment characteristics similar to those of the Fund. Keep in mind that the Fund's past performance (before and after taxes) does not indicate how the Fund will perform in the future. Updated performance information is available on our website at vanguard.com/performance or by calling Vanguard toll-free at800-662-7447.</p> <p>This example does not include the brokerage commissions that you may pay to buy and sell ETF Shares of the Fund. </p> <p>Example</p> <p>The following example is intended to help you compare the cost of investing in Russell 2000 Growth ETF with the cost of investing in other funds. It illustrates the hypothetical expenses that you would incur over various periods if you invest $10,000 in Russell 2000 Growth ETF. This example assumes that Russell 2000 Growth ETF provides a return of 5% a year and that total annual fund operating expenses remain as stated in the preceding table. The results apply whether or not you redeem your investment at the end of the given period. Although your actual costs may be higher or lower, based on these assumptions your costs would be:</p> <p>The following table describes the fees and expenses you may pay if you buy and hold ETF Shares of the Fund.</p> <p>The Fund seeks to track the performance of a benchmark index that measures the investment return of small-capitalization growth stocks in the United States.</p> <p>Actual after-tax returns depend on your tax situation and may differ from those shown in the preceding table. When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations. Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares will be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder.</p> <p>Portfolio Turnover</p> <p>The Fund pays transaction costs, such as commissions, when it buys and sells securities (or 'turns over' its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in more taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the previous expense example, reduce the Fund's performance. During the most recent fiscal year, the Fund's portfolio turnover rate was 51%. </p> <p>An investment in the Fund could lose money over short or even long periods. </p> <p>An investment in the Fund could lose money over short or even long periods. You should expect the Fund's share price and total return to fluctuate within a wide range, like the fluctuations of the overall stock market. The Fund is subject to the following risks, which could affect the Fund's performance:</p><p>Stock market risk, which is the chance that stock prices overall will decline. Stock markets tend to move in cycles, with periods of rising prices and periods of falling prices. The Fund's target index may, at times, become focused in stocks of a particular sector, category, or group of companies, which could cause the Fund to underperform the overall stock market.</p><p>Investment style risk, which is the chance that returns from small-capitalization growth stocks will trail returns from the overall stock market. Historically, small-cap stocks have been more volatile in price than the large-cap stocks that dominate the overall market, and they often perform quite differently.</p><p>Because ETF Shares are traded on an exchange, they are subject to additional risks:</p><p>Russell 2000 Growth ETF Shares are listed for trading on Nasdaq and are bought and sold on the secondary market at market prices. Although it is expected that the market price of a Russell 2000 Growth ETF Share typically will approximate its net asset value (NAV), there may be times when the market price and the NAV differ significantly. Thus, you may pay more or less than NAV when you buy Russell 2000 Growth ETF Shares on the secondary market, and you may receive more or less than NAV when you sell those shares.</p><p>Although Russell 2000 Growth ETF Shares are listed for trading on Nasdaq, it is possible that an active trading market may not be maintained.</p><p>Trading of Russell 2000 Growth ETF Shares on Nasdaq may be halted by the activation of individual or marketwide 'circuit breakers' (which halt trading for a specific period of time when the price of a particular security or overall market prices decline by a specified percentage). Trading of Russell 2000 Growth ETF Shares may also be halted if (1) the shares are delisted from Nasdaq without first being listed on another exchange or (2) Nasdaq officals determine that such action is appropriate in the interest of a fair and orderly market or to protect investors.</p><p>An investment in the Fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.</p> <p>The Fund employs an indexing investment approach designed to track the performance of the Russell 2000(r) Growth Index. The Index is designed to measure the performance of small-capitalization growth stocks in the United States. The Fund 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.</p> <p>An investment in the Fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.</p> <p>The following bar chart and table are intended to help you understand the risks of investing in the Fund.</p> <p>The bar chart shows the performance of the Fund's ETF Shares in their first full calendar year.</p> <p>800-662-7447</p> <p>vanguard.com/performance </p> <p>Keep in mind that the Fund's past performance (before and after taxes) does not indicate how the Fund will perform in the future. </p> <p>When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption.</p> <p>Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan.</p> <p>Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares will be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder.</p> <p>The following bar chart and table are intended to help you understand the risks of investing in the Fund. Because there is no calendar-year performance information for the Fund's Institutional Shares, the information presented in the bar chart and table reflects the performance of the ETF Shares of Vanguard Russell 2000 Growth Index Fund. (ETF Shares are offered through a separate prospectus.) Performance based on net asset value for the Institutional Shares would be substantially similar because both share classes constitute an investment in the same portfolio of securities; their returns generally should differ only to the extent that the expenses of the two classes differ. The bar chart shows the performance of the Fund's ETF Shares (based on NAV) in their first full calendar year. The table shows how the average annual total returns of the ETF Shares compare with those of the Fund's target index, which has investment characteristics similar to those of the Fund. Keep in mind that the Fund's past performance (before and after taxes) does not indicate how the Fund will perform in the future. Updated performance information is available on our website at vanguard.com/performance or by calling Vanguard toll-free at 800-662-7447.</p> <p>Example</p> <p>The following example is intended to help you compare the cost of investing in the Fund's Institutional Shares with the cost of investing in other mutual funds. It illustrates the hypothetical expenses that you would incur over various periods if you invest $10,000 in the Fund's shares. This example assumes that the Shares provide a return of 5% a year and that total annual fund operating expenses remain as stated in the preceding table. The results apply whether or not you redeem your investment at the end of the given period. Although your actual costs may be higher or lower, based on these assumptions your costs would be:</p> <p>The following table describes the fees and expenses you may pay if you buy and hold Institutional Shares of the Fund.</p> <p>The Fund seeks to track the performance of a benchmark index that measures the investment return of small-capitalization growth stocks in the United States.</p> <p>Actual after-tax returns depend on your tax situation and may differ from those shown in the preceding table. When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations. Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares will be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder.</p> <p>Portfolio Turnover</p> <p>The Fund pays transaction costs, such as commissions, when it buys and sells securities (or 'turns over' its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in more taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the previous expense example, reduce the Fund's performance. During the most recent fiscal year, the Fund's portfolio turnover rate was 51%. </p> <p>An investment in the Fund could lose money over short or even long periods. </p> <p>An investment in the Fund could lose money over short or even long periods. You should expect the Fund's share price and total return to fluctuate within a wide range, like the fluctuations of the overall stock market. The Fund is subject to the following risks, which could affect the Fund's performance:</p><p>Stock market risk, which is the chance that stock prices overall will decline. Stock markets tend to move in cycles, with periods of rising prices and periods of falling prices. The Fund's target index may, at times, become focused in stocks of a particular sector, category, or group of companies, which could cause the Fund to underperform the overall stock market.</p><p>Investment style risk, which is the chance that returns from small-capitalization growth stocks will trail returns from the overall stock market. Historically, small-cap stocks have been more volatile in price than the large-cap stocks that dominate the overall market, and they often perform quite differently.</p><p>An investment in the Fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.</p> <p>The Fund employs an indexing investment approach designed to track the performance of the Russell 2000(r) Growth Index. The Index is designed to measure the performance of small-capitalization growth stocks in the United States. The Fund 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.</p> <p>An investment in the Fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.</p> <p>800-662-7447</p> <p>vanguard.com/performance </p> <p>Keep in mind that the Fund's past performance (before and after taxes) does not indicate how the Fund will perform in the future. </p> <p>The bar chart shows how the performance of the Fund's ETF Shares has varied from one calendar year to another over the periods shown. The Fund's Institutional Shares were not available during the time periods shown.</p> <p>When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption.</p> <p>Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan.</p> <p>Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares will be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder.</p> <div style="display:none">~ http://vanguard/role/S000030005ShareholderFeesInstitutional column period compact * column rr_ProspectusShareClassAxis compact * row primary compact * row dei_LegalEntityAxis compact vanguard_S000030005Member ~ </div> <div style="display:none">~ http://vanguard/role/S000030005ShareholderFeesETF column period compact * column rr_ProspectusShareClassAxis compact * row primary compact * row dei_LegalEntityAxis compact vanguard_S000030005Member ~ </div> <div style="display:none">~ http://vanguard/role/S000030005PerformanceTableDataETF column primary compact * row dei_LegalEntityAxis compact vanguard_S000030005Member row rr_ProspectusShareClassAxis compact * row rr_PerformanceMeasureAxis compact * ~ </div> <div style="display:none">~ http://vanguard/role/S000030005PerformanceTableDataInstitutional column primary compact * row dei_LegalEntityAxis compact vanguard_S000030005Member row rr_ProspectusShareClassAxis compact * row rr_PerformanceMeasureAxis compact * ~ </div> <div style="display:none">~ http://vanguard/role/S000030005OperatingExpensesETF column period compact * column rr_ProspectusShareClassAxis compact * row primary compact * row dei_LegalEntityAxis compact vanguard_S000030005Member ~ </div> <div style="display:none">~ http://vanguard/role/S000030005OperatingExpensesInstitutional column period compact * column rr_ProspectusShareClassAxis compact * row primary compact * row dei_LegalEntityAxis compact vanguard_S000030005Member ~ </div> <div style="display:none">~ http://vanguard/role/S000030005ExpenseExampleNoRedemptionETF column period compact * column rr_ProspectusShareClassAxis compact * row primary compact * row dei_LegalEntityAxis compact vanguard_S000030005Member ~ </div> <div style="display:none">~ http://vanguard/role/S000030005ExpenseExampleNoRedemptionInstitutional column period compact * column rr_ProspectusShareClassAxis compact * row primary compact * row dei_LegalEntityAxis compact vanguard_S000030005Member ~ </div> Shareholder Fees (Fees paid directly from your investment) Shareholder Fees (Fees paid directly from your investment) Annual Fund Operating Expenses (Expenses that you pay each year as a percentage of the value of your investment) Annual Fund Operating Expenses (Expenses that you pay each year as a percentage of the value of your investment) Average Annual Total Returns for Periods Ended December 31, 2011 Average Annual Total Returns for Periods Ended December 31, 2011 Annual Total Returns Fees and Expenses Investment Objective Primary Risks Risk/Return Primary Investment Strategies 0.35 2012-12-21 (reflects no deduction for fees, expenses, or taxes) Annual Total Returns Fees and Expenses Investment Objective Primary Risks Risk/Return Primary Investment Strategies 0.35 2012-12-21 (reflects no deduction for fees, expenses, or taxes) <p>The following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows the performance of the Fund's ETF Shares (based on NAV) in their first full calendar year. The table shows how the average annual total returns of the ETF Shares compare with those of the Fund's target index, which has investment characteristics similar to those of the Fund. Keep in mind that the Fund's past performance (before and after taxes) does not indicate how the Fund will perform in the future. Updated performance information is available on our website at vanguard.com/performance or by calling Vanguard toll-free at800-662-7447.</p> <p>This example does not include the brokerage commissions that you may pay to buy and sell ETF Shares of the Fund. </p> <p>Example</p> <p>The following example is intended to help you compare the cost of investing in Russell 2000 ETF with the cost of investing in other funds. It illustrates the hypothetical expenses that you would incur over various periods if you invest $10,000 in Russell 2000 ETF. This example assumes that Russell 2000 ETF provides a return of 5% a year and that total annual fund operating expenses remain as stated in the preceding table. The results apply whether or not you redeem your investment at the end of the given period. Although your actual costs may be higher or lower, based on these assumptions your costs would be:</p> <p>The following table describes the fees and expenses you may pay if you buy and hold ETF Shares of the Fund. 'Acquired Fund Fees and Expenses' are expenses incurred indirectly by the Fund through its ownership of shares in other investment companies, such as business development companies. Business development company expenses are similar to the expenses paid by any operating company held by the Fund. They are not direct costs paid by Fund shareholders and are not used to calculate the Fund's net asset value. They have no impact on the costs associated with fund operations. </p> <p>The Fund seeks to track the performance of a benchmark index that measures the investment return of small-capitalization stocks in the United States.</p> <p>Actual after-tax returns depend on your tax situation and may differ from those shown in the preceding table. When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations. Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares will be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder.</p> <p>Portfolio Turnover</p> <p>The Fund pays transaction costs, such as commissions, when it buys and sells securities (or 'turns over' its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in more taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the previous expense example, reduce the Fund's performance. During the most recent fiscal year, the Fund's portfolio turnover rate was 35%. </p> <p>An investment in the Fund could lose money over short or even long periods. </p> <p>An investment in the Fund could lose money over short or even long periods. You should expect the Fund's share price and total return to fluctuate within a wide range, like the fluctuations of the overall stock market. The Fund is subject to the following risks, which could affect the Fund's performance:</p><p>Stock market risk, which is the chance that stock prices overall will decline. Stock markets tend to move in cycles, with periods of rising prices and periods of falling prices. The Fund's target index may, at times, become focused in stocks of a particular sector, category, or group of companies, which could cause the Fund to underperform the overall stock market.</p><p>Investment style risk, which is the chance that returns from small-capitalization stocks will trail returns from the overall stock market. Historically, small-cap stocks have been more volatile in price than the large-cap stocks that dominate the overall market, and they often perform quite differently.</p><p>Because ETF Shares are traded on an exchange, they are subject to additional risks:</p><p>Russell 2000 ETF Shares are listed for trading on Nasdaq and are bought and sold on the secondary market at market prices. Although it is expected that the market price of a Russell 2000 ETF Share typically will approximate its net asset value (NAV), there may be times when the market price and the NAV differ significantly. Thus, you may pay more or less than NAV when you buy Russell 2000 ETF Shares on the secondary market, and you may receive more or less than NAV when you sell those shares.</p><p>Although Russell 2000 ETF Shares are listed for trading on Nasdaq, it is possible that an active trading market may not be maintained.</p><p>Trading of Russell 2000 ETF Shares on Nasdaq may be halted by the activation of individual or marketwide 'circuit breakers' (which halt trading for a specific period of time when the price of a particular security or overall market prices decline by a specified percentage). Trading of Russell 2000 ETF Shares may also be halted if (1) the shares are delisted from Nasdaq without first being listed on another exchange or (2) Nasdaq officals determine that such action is appropriate in the interest of a fair and orderly market or to protect investors.</p><p>An investment in the Fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.</p> <p>The Fund employs an indexing investment approach designed to track the performance of the Russell 2000(r) Index. The Index is designed to measure the performance of small-capitalization stocks in the United States. The Fund 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.</p> <p>An investment in the Fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.</p> <p>The following bar chart and table are intended to help you understand the risks of investing in the Fund.</p> <p>The bar chart shows the performance of the Fund's ETF Shares in their first full calendar year.</p> <p>800-662-7447</p> <p>vanguard.com/performance </p> <p>Keep in mind that the Fund's past performance (before and after taxes) does not indicate how the Fund will perform in the future. </p> <p>When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption.</p> <p>Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan.</p> <p>Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares will be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder.</p> <p>The following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows the performance of the Fund's Institutional Shares in their first full calendar year. The table shows how the average annual total returns of the Institutional Shares compare with those of the Fund's target index, which has investment characteristics similar to those of the Fund. Keep in mind that the Fund's past performance (before and after taxes) does not indicate how the Fund will perform in the future. Updated performance information is available on our website at vanguard.com/performance or by calling Vanguard toll-free at800-662-7447.</p> <p>Example</p> <p>The following example is intended to help you compare the cost of investing in the Fund's Institutional Shares with the cost of investing in other mutual funds. It illustrates the hypothetical expenses that you would incur over various periods if you invest $10,000 in the Fund's shares. This example assumes that the Shares provide a return of 5% a year and that total annual fund operating expenses remain as stated in the preceding table. The results apply whether or not you redeem your investment at the end of the given period. Although your actual costs may be higher or lower, based on these assumptions your costs would be:</p> <p>The following table describes the fees and expenses you may pay if you buy and hold Institutional Shares of the Fund. 'Acquired Fund Fees and Expenses' are expenses incurred indirectly by the Fund through its ownership of shares in other investment companies, such as business development companies. Business development company expenses are similar to the expenses paid by any operating company held by the Fund. They are not direct costs paid by Fund shareholders and are not used to calculate the Fund's net asset value. They have no impact on the costs associated with fund operations.</p> <p>The Fund seeks to track the performance of a benchmark index that measures the investment return of small-capitalization stocks in the United States.</p> <p>Actual after-tax returns depend on your tax situation and may differ from those shown in the preceding table. When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations. Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares will be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder.</p> <p>Portfolio Turnover</p> <p>The Fund pays transaction costs, such as commissions, when it buys and sells securities (or 'turns over' its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in more taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the previous expense example, reduce the Fund's performance. During the most recent fiscal year, the Fund's portfolio turnover rate was 35%. </p> <p>An investment in the Fund could lose money over short or even long periods. </p> <p>An investment in the Fund could lose money over short or even long periods. You should expect the Fund's share price and total return to fluctuate within a wide range, like the fluctuations of the overall stock market. The Fund is subject to the following risks, which could affect the Fund's performance:</p><p>Stock market risk, which is the chance that stock prices overall will decline. Stock markets tend to move in cycles, with periods of rising prices and periods of falling prices. The Fund's target index may, at times, become focused in stocks of a particular sector, category, or group of companies, which could cause the Fund to underperform the overall stock market.</p><p>Investment style risk, which is the chance that returns from small-capitalization stocks will trail returns from the overall stock market. Historically, small-cap stocks have been more volatile in price than the large-cap stocks that dominate the overall market, and they often perform quite differently.</p><p>An investment in the Fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.</p> <p>The Fund employs an indexing investment approach designed to track the performance of the Russell 2000(r) Index. The Index is designed to measure the performance of small-capitalization stocks in the United States. The Fund 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.</p> <p>An investment in the Fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.</p> <p>The following bar chart and table are intended to help you understand the risks of investing in the Fund.</p> <p>The bar chart shows the performance of the Fund's Institutional Shares in their first full calendar year.</p> <p>800-662-7447</p> <p>vanguard.com/performance </p> <p>Keep in mind that the Fund's past performance (before and after taxes) does not indicate how the Fund will perform in the future. </p> <p>When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption.</p> <p>Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan.</p> <p>Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares will be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder.</p> <div style="display:none">~ http://vanguard/role/S000030003ShareholderFeesInstitutional column period compact * column rr_ProspectusShareClassAxis compact * row primary compact * row dei_LegalEntityAxis compact vanguard_S000030003Member ~ </div> <div style="display:none">~ http://vanguard/role/S000030003ShareholderFeesETF column period compact * column rr_ProspectusShareClassAxis compact * row primary compact * row dei_LegalEntityAxis compact vanguard_S000030003Member ~ </div> <div style="display:none">~ http://vanguard/role/S000030003PerformanceTableDataInstitutional column primary compact * row dei_LegalEntityAxis compact vanguard_S000030003Member row rr_ProspectusShareClassAxis compact * row rr_PerformanceMeasureAxis compact * ~ </div> <div style="display:none">~ http://vanguard/role/S000030003PerformanceTableDataETF column primary compact * row dei_LegalEntityAxis compact vanguard_S000030003Member row rr_ProspectusShareClassAxis compact * row rr_PerformanceMeasureAxis compact * ~ </div> <div style="display:none">~ http://vanguard/role/S000030003OperatingExpensesETF column period compact * column rr_ProspectusShareClassAxis compact * row primary compact * row dei_LegalEntityAxis compact vanguard_S000030003Member ~ </div> <div style="display:none">~ http://vanguard/role/S000030003OperatingExpensesInstitutional column period compact * column rr_ProspectusShareClassAxis compact * row primary compact * row dei_LegalEntityAxis compact vanguard_S000030003Member ~ </div> <div style="display:none">~ http://vanguard/role/S000030003ExpenseExampleNoRedemptionETF column period compact * column rr_ProspectusShareClassAxis compact * row primary compact * row dei_LegalEntityAxis compact vanguard_S000030003Member ~ </div> <div style="display:none">~ http://vanguard/role/S000030003ExpenseExampleNoRedemptionInstitutional column period compact * column rr_ProspectusShareClassAxis compact * row primary compact * row dei_LegalEntityAxis compact vanguard_S000030003Member ~ </div> Shareholder Fees (Fees paid directly from your investment) Shareholder Fees (Fees paid directly from your investment) Annual Fund Operating Expenses (Expenses that you pay each year as a percentage of the value of your investment) Annual Fund Operating Expenses (Expenses that you pay each year as a percentage of the value of your investment) Average Annual Total Returns for Periods Ended December 31, 2011 Average Annual Total Returns for Periods Ended December 31, 2011 Annual Total Returns Fees and Expenses Investment Objective Primary Risks Risk/Return Primary Investment Strategies 0.40 2012-12-21 (reflects no deduction for fees, expenses, or taxes) Annual Total Returns Fees and Expenses Investment Objective Primary Risks Risk/Return Primary Investment Strategies 0.40 2012-12-21 (reflects no deduction for fees, expenses, or taxes) <p>The following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows the performance of the Fund's ETF Shares (based on NAV) in their first full calendar year. The table shows how the average annual total returns of the ETF Shares compare with those of the Fund's target index, which has investment characteristics similar to those of the Fund. Keep in mind that the Fund's past performance (before and after taxes) does not indicate how the Fund will perform in the future. Updated performance information is available on our website at vanguard.com/performance or by calling Vanguard toll-free at800-662-7447.</p> <p>This example does not include the brokerage commissions that you may pay to buy and sell ETF Shares of the Fund. </p> <p>Example</p> <p>The following example is intended to help you compare the cost of investing in Russell 2000 Value ETF with the cost of investing in other funds. It illustrates the hypothetical expenses that you would incur over various periods if you invest $10,000 in Russell 2000 Value ETF. This example assumes that Russell 2000 Value ETF provides a return of 5% a year and that total annual fund operating expenses remain as stated in the preceding table. The results apply whether or not you redeem your investment at the end of the given period. Although your actual costs may be higher or lower, based on these assumptions your costs would be:</p> <p>The following table describes the fees and expenses you may pay if you buy and hold ETF Shares of the Fund. 'Acquired Fund Fees and Expenses' are expenses incurred indirectly by the Fund through its ownership of shares in other investment companies, such as business development companies. Business development company expenses are similar to the expenses paid by any operating company held by the Fund. They are not direct costs paid by Fund shareholders and are not used to calculate the Fund's net asset value. They have no impact on the costs associated with fund operations. </p> <p>The Fund seeks to track the performance of a benchmark index that measures the investment return of small-capitalization value stocks in the United States.</p> <p>Actual after-tax returns depend on your tax situation and may differ from those shown in the preceding table. When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations. Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares will be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder.</p> <p>Portfolio Turnover</p> <p>The Fund pays transaction costs, such as commissions, when it buys and sells securities (or 'turns over' its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in more taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the previous expense example, reduce the Fund's performance. During the most recent fiscal year, the Fund's portfolio turnover rate was 40%. </p> <p>An investment in the Fund could lose money over short or even long periods. </p> <p>An investment in the Fund could lose money over short or even long periods. You should expect the Fund's share price and total return to fluctuate within a wide range, like the fluctuations of the overall stock market. The Fund is subject to the following risks, which could affect the Fund's performance:</p><p>Stock market risk, which is the chance that stock prices overall will decline. Stock markets tend to move in cycles, with periods of rising prices and periods of falling prices. The Fund's target index may, at times, become focused in stocks of a particular sector, category, or group of companies, which could cause the Fund to underperform the overall stock market.</p><p>Investment style risk, which is the chance that returns from small-capitalization value stocks will trail returns from the overall stock market. Historically, small-cap stocks have been more volatile in price than the large-cap stocks that dominate the overall market, and they often perform quite differently.</p><p>Because ETF Shares are traded on an exchange, they are subject to additional risks:</p><p>Russell 2000 Value ETF Shares are listed for trading on Nasdaq and are bought and sold on the secondary market at market prices. Although it is expected that the market price of a Russell 2000 Value ETF Share typically will approximate its net asset value (NAV), there may be times when the market price and the NAV differ significantly. Thus, you may pay more or less than NAV when you buy Russell 2000 Value ETF Shares on the secondary market, and you may receive more or less than NAV when you sell those shares.</p><p>Although Russell 2000 Value ETF Shares are listed for trading on Nasdaq, it is possible that an active trading market may not be maintained.</p><p>Trading of Russell 2000 Value ETF Shares on Nasdaq may be halted by the activation of individual or marketwide 'circuit breakers' (which halt trading for a specific period of time when the price of a particular security or overall market prices decline by a specified percentage). Trading of Russell 2000 Value ETF Shares may also be halted if (1) the shares are delisted from Nasdaq without first being listed on another exchange or (2) Nasdaq officals determine that such action is appropriate in the interest of a fair and orderly market or to protect investors.</p><p>An investment in the Fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.</p> <p>The Fund employs an indexing investment approach designed to track the performance of the Russell 2000(r) Value Index. The Index is designed to measure the performance of small-capitalization value stocks in the United States. The Fund 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.</p> <p>An investment in the Fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.</p> <p>The following bar chart and table are intended to help you understand the risks of investing in the Fund.</p> <p>The bar chart shows the performance of the Fund's ETF Shares in their first full calendar year.</p> <p>800-662-7447</p> <p>vanguard.com/performance </p> <p>Keep in mind that the Fund's past performance (before and after taxes) does not indicate how the Fund will perform in the future. </p> <p>When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption.</p> <p>Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan.</p> <p>Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares will be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder.</p> <p>The following bar chart and table are intended to help you understand the risks of investing in the Fund. Because there is no calendar-year performance information for the Fund's Institutional Shares, the information presented in the bar chart and table reflects the performance of the ETF Shares of Vanguard Russell 2000 Value Index Fund. (ETF Shares are offered through a separate prospectus.) Performance based on net asset value for the Institutional Shares would be substantially similar because both share classes constitute an investment in the same portfolio of securities; their returns generally should differ only to the extent that the expenses of the two classes differ. The bar chart shows the performance of the Fund's ETF Shares (based on NAV) in their first full calendar year. The table shows how the average annual total returns of the ETF Shares compare with those of the Fund's target index, which has investment characteristics similar to those of the Fund. Keep in mind that the Fund's past performance (before and after taxes) does not indicate how the Fund will perform in the future. Updated performance information is available on our website at vanguard.com/performance or by calling Vanguard toll-free at 800-662-7447.</p> <p>Example</p> <p>The following example is intended to help you compare the cost of investing in the Fund's Institutional Shares with the cost of investing in other mutual funds. It illustrates the hypothetical expenses that you would incur over various periods if you invest $10,000 in the Fund's shares. This example assumes that the Shares provide a return of 5% a year and that total annual fund operating expenses remain as stated in the preceding table. The results apply whether or not you redeem your investment at the end of the given period. Although your actual costs may be higher or lower, based on these assumptions your costs would be:</p> <p>The following table describes the fees and expenses you may pay if you buy and hold Institutional Shares of the Fund. 'Acquired Fund Fees and Expenses' are expenses incurred indirectly by the Fund through its ownership of shares in other investment companies, such as business development companies. Business development company expenses are similar to the expenses paid by any operating company held by the Fund. They are not direct costs paid by Fund shareholders and are not used to calculate the Fund's net asset value. They have no impact on the costs associated with fund operations.</p> <p>The Fund seeks to track the performance of a benchmark index that measures the investment return of small-capitalization value stocks in the United States.</p> <p>Actual after-tax returns depend on your tax situation and may differ from those shown in the preceding table. When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations. Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares will be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder.</p> <p>Portfolio Turnover</p> <p>The Fund pays transaction costs, such as commissions, when it buys and sells securities (or 'turns over' its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in more taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the previous expense example, reduce the Fund's performance. During the most recent fiscal year, the Fund's portfolio turnover rate was 40%. </p> <p>An investment in the Fund could lose money over short or even long periods. You should expect the Fund's share price and total return to fluctuate within a wide range, like the fluctuations of the overall stock market. The Fund is subject to the following risks, which could affect the Fund's performance:</p><p>Stock market risk, which is the chance that stock prices overall will decline. Stock markets tend to move in cycles, with periods of rising prices and periods of falling prices. The Fund's target index may, at times, become focused in stocks of a particular sector, category, or group of companies, which could cause the Fund to underperform the overall stock market.</p><p>Investment style risk, which is the chance that returns from small-capitalization value stocks will trail returns from the overall stock market. Historically, small-cap stocks have been more volatile in price than the large-cap stocks that dominate the overall market, and they often perform quite differently.</p><p>An investment in the Fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.</p> <p>The Fund employs an indexing investment approach designed to track the performance of the Russell 2000(r) Value Index. The Index is designed to measure the performance of small-capitalization value stocks in the United States. The Fund 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.</p> <p>An investment in the Fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.</p> <p>The Fund has not been in operation long enough to report a full calendar-year return.</p> <p>800-662-7447</p> <p>vanguard.com/performance </p> <p>Keep in mind that the Fund's past performance (before and after taxes) does not indicate how the Fund will perform in the future. </p> <p>The bar chart shows how the performance of the Fund's ETF Shares has varied from one calendar year to another over the periods shown. The Fund's Institutional Shares were not available during the time periods shown.</p> <p>When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption.</p> <p>Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan.</p> <p>Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares will be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder.</p> <div style="display:none">~ http://vanguard/role/S000030004ShareholderFeesInstitutional column period compact * column rr_ProspectusShareClassAxis compact * row primary compact * row dei_LegalEntityAxis compact vanguard_S000030004Member ~ </div> <div style="display:none">~ http://vanguard/role/S000030004ShareholderFeesETF column period compact * column rr_ProspectusShareClassAxis compact * row primary compact * row dei_LegalEntityAxis compact vanguard_S000030004Member ~ </div> <div style="display:none">~ http://vanguard/role/S000030004PerformanceTableDataETF column primary compact * row dei_LegalEntityAxis compact vanguard_S000030004Member row rr_ProspectusShareClassAxis compact * row rr_PerformanceMeasureAxis compact * ~ </div> <div style="display:none">~ http://vanguard/role/S000030004PerformanceTableDataInstitutional column primary compact * row dei_LegalEntityAxis compact vanguard_S000030004Member row rr_ProspectusShareClassAxis compact * row rr_PerformanceMeasureAxis compact * ~ </div> <div style="display:none">~ http://vanguard/role/S000030004OperatingExpensesETF column period compact * column rr_ProspectusShareClassAxis compact * row primary compact * row dei_LegalEntityAxis compact vanguard_S000030004Member ~ </div> <div style="display:none">~ http://vanguard/role/S000030004OperatingExpensesInstitutional column period compact * column rr_ProspectusShareClassAxis compact * row primary compact * row dei_LegalEntityAxis compact vanguard_S000030004Member ~ </div> <div style="display:none">~ http://vanguard/role/S000030004ExpenseExampleNoRedemptionETF column period compact * column rr_ProspectusShareClassAxis compact * row primary compact * row dei_LegalEntityAxis compact vanguard_S000030004Member ~ </div> <div style="display:none">~ http://vanguard/role/S000030004ExpenseExampleNoRedemptionInstitutional column period compact * column rr_ProspectusShareClassAxis compact * row primary compact * row dei_LegalEntityAxis compact vanguard_S000030004Member ~ </div> Shareholder Fees (Fees paid directly from your investment) Shareholder Fees (Fees paid directly from your investment) Annual Fund Operating Expenses (Expenses that you pay each year as a percentage of the value of your investment) Annual Fund Operating Expenses (Expenses that you pay each year as a percentage of the value of your investment) Average Annual Total Returns for Periods Ended December 31, 2011 Average Annual Total Returns for Periods Ended December 31, 2011 Annual Total Returns Fees and Expenses Investment Objective Primary Risks Risk/Return Primary Investment Strategies 0.20 2012-12-21 (reflects no deduction for fees, expenses, or taxes) Annual Total Returns Fees and Expenses Investment Objective Primary Risks Risk/Return Primary Investment Strategies 0.20 2012-12-21 (reflects no deduction for fees, expenses, or taxes) <p>The following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows the performance of the Fund's ETF Shares (based on NAV) in their first full calendar year. The table shows how the average annual total returns of the ETF Shares compare with those of the Fund's target index, which has investment characteristics similar to those of the Fund. Keep in mind that the Fund's past performance (before and after taxes) does not indicate how the Fund will perform in the future. Updated performance information is available on our website at vanguard.com/performance or by calling Vanguard toll-free at800-662-7447.</p> <p>This example does not include the brokerage commissions that you may pay to buy and sell ETF Shares of the Fund. </p> <p>Example</p> <p>The following example is intended to help you compare the cost of investing in Russell 3000 ETF with the cost of investing in other funds. It illustrates the hypothetical expenses that you would incur over various periods if you invest $10,000 in Russell 3000 ETF. This example assumes that Russell 3000 ETF provides a return of 5% a year and that total annual fund operating expenses remain as stated in the preceding table. The results apply whether or not you redeem your investment at the end of the given period. Although your actual costs may be higher or lower, based on these assumptions your costs would be:</p> <p>The following table describes the fees and expenses you may pay if you buy and hold ETF Shares of the Fund.</p> <p>The Fund seeks to track the performance of a benchmark index that measures the investment return of the broad U.S. stock market.</p> <p>Actual after-tax returns depend on your tax situation and may differ from those shown in the preceding table. When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations. Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares will be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder.</p> <p>Portfolio Turnover</p> <p>The Fund pays transaction costs, such as commissions, when it buys and sells securities (or 'turns over' its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in more taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the previous expense example, reduce the Fund's performance. During the most recent fiscal year, the Fund's portfolio turnover rate was 20%. </p> <p>An investment in the Fund could lose money over short or even long periods. </p> <p>An investment in the Fund could lose money over short or even long periods. You should expect the Fund's share price and total return to fluctuate within a wide range, like the fluctuations of the overall stock market. The Fund is subject to the following risk, which could affect the Fund's performance:</p><p>Stock market risk, which is the chance that stock prices overall will decline. Stock markets tend to move in cycles, with periods of rising prices and periods of falling prices. The Fund's target index may, at times, become focused in stocks of a particular sector, category, or group of companies.</p><p>Because ETF Shares are traded on an exchange, they are subject to additional risks:</p><p>Russell 3000 ETF Shares are listed for trading on Nasdaq and are bought and sold on the secondary market at market prices. Although it is expected that the market price of a Russell 3000 ETF Share typically will approximate its net asset value (NAV), there may be times when the market price and the NAV differ significantly. Thus, you may pay more or less than NAV when you buy Russell 3000 ETF Shares on the secondary market, and you may receive more or less than NAV when you sell those shares.</p><p>Although Russell 3000 ETF Shares are listed for trading on Nasdaq, it is possible that an active trading market may not be maintained.</p><p>Trading of Russell 3000 ETF Shares on Nasdaq may be halted by the activation of individual or marketwide 'circuit breakers' (which halt trading for a specific period of time when the price of a particular security or overall market prices decline by a specified percentage). Trading of Russell 3000 ETF Shares may also be halted if (1) the shares are delisted from Nasdaq without first being listed on another exchange or (2) Nasdaq officals determine that such action is appropriate in the interest of a fair and orderly market or to protect investors.</p><p>An investment in the Fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.</p> <p>The Fund employs an indexing investment approach designed to track the performance of the Russell 3000(r) Index, which represents approximately 98% of the U.S. equity market and comprises the 3,000 largest companies in the United States. The Fund 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.</p> <p>An investment in the Fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.</p> <p>The following bar chart and table are intended to help you understand the risks of investing in the Fund.</p> <p>The bar chart shows the performance of the Fund's ETF Shares in their first full calendar year.</p> <p>800-662-7447</p> <p>vanguard.com/performance </p> <p>Keep in mind that the Fund's past performance (before and after taxes) does not indicate how the Fund will perform in the future. </p> <p>When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption.</p> <p>Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan.</p> <p>Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares will be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder.</p> <p>The following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows the performance of the Fund's Institutional Shares in its first full calendar year. The table shows how the average annual total returns of the Institutional Shares compare with those of the Fund's target index, which has investment characteristics similar to those of the Fund. Keep in mind that the Fund's past performance (before and after taxes) does not indicate how the Fund will perform in the future. Updated performance information is available on our website at vanguard.com/performance or by calling Vanguard toll-free at800-662-7447.</p> <p>Example</p> <p>The following example is intended to help you compare the cost of investing in the Fund's Institutional Shares with the cost of investing in other mutual funds. It illustrates the hypothetical expenses that you would incur over various periods if you invest $10,000 in the Fund's shares. This example assumes that the Shares provide a return of 5% a year and that total annual fund operating expenses remain as stated in the preceding table. The results apply whether or not you redeem your investment at the end of the given period. Although your actual costs may be higher or lower, based on these assumptions your costs would be:</p> <p>The following table describes the fees and expenses you may pay if you buy and hold Institutional Shares of the Fund.</p> <p>The Fund seeks to track the performance of a benchmark index that measures the investment return of the broad U.S. stock market.</p> <p>Actual after-tax returns depend on your tax situation and may differ from those shown in the preceding table. When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations. Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares will be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder.</p> <p>Portfolio Turnover</p> <p>The Fund pays transaction costs, such as commissions, when it buys and sells securities (or 'turns over' its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in more taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the previous expense example, reduce the Fund's performance. During the most recent fiscal year, the Fund's portfolio turnover rate was 20%. </p> <p>An investment in the Fund could lose money over short or even long periods. </p> <p>An investment in the Fund could lose money over short or even long periods. You should expect the Fund's share price and total return to fluctuate within a wide range, like the fluctuations of the overall stock market. The Fund is subject to the following risks, which could affect the Fund's performance:</p><p>Stock market risk, which is the chance that stock prices overall will decline. Stock markets tend to move in cycles, with periods of rising prices and periods of falling prices. The Fund's target index may, at times, become focused in stocks of a particular sector, category, or group of companies.</p><p>An investment in the Fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.</p> <p>The Fund employs an indexing investment approach designed to track the performance of the Russell 3000(r) Index, which represents approximately 98% of the U.S. equity market and comprises the 3,000 largest companies in the United States. The Fund 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.</p> <p>An investment in the Fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.</p> <p>The following bar chart and table are intended to help you understand the risks of investing in the Fund.</p> <p>The bar chart shows the performance of the Fund's Institutional Shares in their first full calendar year.</p> <p>800-662-7447</p> <p>vanguard.com/performance </p> <p>Keep in mind that the Fund's past performance (before and after taxes) does not indicate how the Fund will perform in the future. </p> <p>When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption.</p> <p>Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan.</p> <p>Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares will be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder.</p> <div style="display:none">~ http://vanguard/role/S000030006ShareholderFeesInstitutional column period compact * column rr_ProspectusShareClassAxis compact * row primary compact * row dei_LegalEntityAxis compact vanguard_S000030006Member ~ </div> <div style="display:none">~ http://vanguard/role/S000030006ShareholderFeesETF column period compact * column rr_ProspectusShareClassAxis compact * row primary compact * row dei_LegalEntityAxis compact vanguard_S000030006Member ~ </div> <div style="display:none">~ http://vanguard/role/S000030006PerformanceTableDataInstitutional column primary compact * row dei_LegalEntityAxis compact vanguard_S000030006Member row rr_ProspectusShareClassAxis compact * row rr_PerformanceMeasureAxis compact * ~ </div> <div style="display:none">~ http://vanguard/role/S000030006PerformanceTableDataETF column primary compact * row dei_LegalEntityAxis compact vanguard_S000030006Member row rr_ProspectusShareClassAxis compact * row rr_PerformanceMeasureAxis compact * ~ </div> <div style="display:none">~ http://vanguard/role/S000030006OperatingExpensesETF column period compact * column rr_ProspectusShareClassAxis compact * row primary compact * row dei_LegalEntityAxis compact vanguard_S000030006Member ~ </div> <div style="display:none">~ http://vanguard/role/S000030006OperatingExpensesInstitutional column period compact * column rr_ProspectusShareClassAxis compact * row primary compact * row dei_LegalEntityAxis compact vanguard_S000030006Member ~ </div> <div style="display:none">~ http://vanguard/role/S000030006ExpenseExampleNoRedemptionETF column period compact * column rr_ProspectusShareClassAxis compact * row primary compact * row dei_LegalEntityAxis compact vanguard_S000030006Member ~ </div> <div style="display:none">~ http://vanguard/role/S000030006ExpenseExampleNoRedemptionInstitutional column period compact * column rr_ProspectusShareClassAxis compact * row primary compact * row dei_LegalEntityAxis compact vanguard_S000030006Member ~ </div> Shareholder Fees (Fees paid directly from your investment) Shareholder Fees (Fees paid directly from your investment) Shareholder Fees (Fees paid directly from your investment) Shareholder Fees (Fees paid directly from your investment) Annual Fund Operating Expenses (Expenses that you pay each year as a percentage of the value of your investment) Annual Fund Operating Expenses (Expenses that you pay each year as a percentage of the value of your investment) Annual Fund Operating Expenses (Expenses that you pay each year as a percentage of the value of your investment) Annual Fund Operating Expenses (Expenses that you pay each year as a percentage of the value of your investment) Average Annual Total Returns for Periods Ended December 31, 2011 Average Annual Total Returns for Periods Ended December 31, 2011 Average Annual Total Returns for Periods Ended December 31, 2011 Average Annual Total Returns for Periods Ended December 31, 2011 Annual Total Returns Fees and Expenses Investment Objective Primary Risks Risk/Return Primary Investment Strategies 0.65 2012-12-21 (reflects no deduction for fees, expenses or taxes) Annual Total Returns Fees and Expenses Investment Objective Primary Risks Risk/Return Primary Investment Strategies 0.65 2012-12-21 (reflects no deduction for fees, expenses, or taxes) Annual Total Returns Fees and Expenses Investment Objective Primary Risks Risk/Return Primary Investment Strategies 0.65 2012-12-21 (reflects no deduction for fees or expenses) Annual Total Returns Fees and Expenses Investment Objective Primary Risks Risk/Return Primary Investment Strategies 0.65 2012-12-21 (reflects no deduction for fees or expenses) <p>The following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund's ETF Shares (based on NAV) has varied from one calendar year to another over the periods shown. The table shows how the average annual total returns of the ETF Shares compare with those of the Fund's target index, which has investment characterstics similar to those of the Fund. Keep in mind that the Fund's past performance (before and after taxes) does not indicate how the Fund will perform in the future. Updated performance information is available on our website at vanguard.com/performance or by calling Vanguard toll-free at800-662-7447.</p> <p>This example does not include the brokerage commissions that you may pay to buy and sell ETF Shares of the Fund. </p> <p>Example</p> <p>The following example is intended to help you compare the cost of investing in Short-Term Corporate Bond ETF with the cost of investing in other funds. It illustrates the hypothetical expenses that you would incur over various periods if you invest $10,000 in Short-Term Corporate Bond ETF. This example assumes that Short-Term Corporate Bond ETF provides a return of 5% a year and that total annual fund operating expenses remain as stated in the preceding table. The results apply whether or not you redeem your investment at the end of the given period. Although your actual costs may be higher or lower, based on these assumptions your costs would be:</p> <p>The following table describes the fees and expenses you may pay if you buy and hold ETF Shares of the Fund.</p> <p>The Fund seeks to track the performance of a market-weighted corporate bond index with a short-term dollar-weighted average maturity.</p> <p>Actual after-tax returns depend on your tax situation and may differ from those shown in the preceding table. When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations. Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares will be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder.</p> <p>Portfolio Turnover</p> <p>The Fund pays transaction costs, such as commissions, when it buys and sells securities (or 'turns over' its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in more taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the previous expense example, reduce the Fund's performance. During the most recent fiscal year, the Fund's portfolio turnover rate was 65%. </p> <p>An investment in the Fund could lose money over short or even long periods. </p> <p>An investment in the Fund could lose money over short or even long periods. You should expect the Fund's share price and total return to fluctuate within a wide range, like the fluctuations of the overall bond market. The Fund is subject to the following risks, which could affect the Fund's performance:</p><p>Income risk, which is the chance that the Fund's income will decline because of falling interest rates. Income risk is generally high for short-term bond funds, so investors should expect the Fund's monthly income to fluctuate.</p><p>Credit risk, which is the chance that a bond issuer will fail to pay interest and principal in a timely manner, or that negative perceptions of the issuer's ability to make such payments will cause the price of that bond to decline. Credit risk should be moderate for the Fund.</p><p>Interest rate risk, which is the chance that bond prices overall will decline because of rising interest rates. Interest rate risk should be low for the Fund because it invests primarily in short-term bonds, whose prices are much less sensitive to interest rate changes than are the prices of long-term bonds.</p><p>Index sampling risk, which is the chance that the securities selected for the Fund, in the aggregate, will not provide investment performance matching that of the Fund's target index. Index sampling risk for the Fund should be low.</p><p>Because ETF Shares are traded on an exchange, they are subject to additional risks:</p><p>Short-Term Corporate Bond ETF Shares are listed for trading on Nasdaq and are bought and sold on the secondary market at market prices. Although it is expected that the market price of a Short-Term Corporate Bond ETF Share typically will approximate its net asset value (NAV), there may be times when the market price and the NAV differ significantly. Thus, you may pay more or less than NAV when you buy Short-Term Corporate Bond ETF Shares on the secondary market, and you may receive more or less than NAV when you sell those shares.</p><p>Although Short-Term Corporate Bond ETF Shares are listed for trading on Nasdaq, it is possible that an active trading market may not be maintained.</p><p>Trading of Short-Term Corporate Bond ETF Shares on Nasdaq may be halted by the activation of individual or marketwide 'circuit breakers' (which halt trading for a specific period of time when the price of a particular security or overall market prices decline by a specified percentage). Trading of Short-Term Corporate Bond ETF Shares may also be halted if (1) the shares are delisted from Nasdaq without first being listed on another exchange or (2) Nasdaq officials determine that such action is appropriate in the interest of a fair and orderly market or to protect investors.</p><p>An investment in the Fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.</p> <p>The Fund employs an indexing investment approach designed to track the performance of the Barclays U.S. 1-5 Year Corporate Bond Index. This Index includes U.S. dollar-denominated, investment-grade, fixed-rate, taxable securities issued by industrial, utility, and financial companies, with maturities between 1 and 5 years.</p><p>The Fund invests by sampling the Index, meaning that it holds a range of securities that, in the aggregate, approximates the full Index in terms of key risk factors and other characteristics. All of the Fund's investments will be selected through the sampling process, and at least 80% of the Fund's assets will be invested in bonds included in the Index. The Fund maintains a dollar-weighted average maturity consistent with that of the Index, which, as of August 31, 2012, was 3.0 years.</p> <p>An investment in the Fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.</p> <p>The following bar chart and table are intended to help you understand the risks of investing in the Fund.</p> <p>800-662-7447</p> <p>vanguard.com/performance </p> <p>Keep in mind that the Fund's past performance (before and after taxes) does not indicate how the Fund will perform in the future. </p> <p>When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption.</p> <p>Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan.</p> <p>Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares will be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder.</p> <p>The following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund's Institutional Shares (including operating expenses but excluding shareholder fees) has varied from one calendar year to another over the periods shown. The table shows how the average annual total returns of the Institutional Shares (including operating expenses and any applicable shareholder fees) compare with those of the Fund's target index, which has investment characteristics similar to those of the Fund. Keep in mind that the Fund's past performance (before and after taxes) does not indicate how the Fund will perform in the future. Updated performance information is available on our website at vanguard.com/performance or by calling Vanguard toll-free at 800-662-7447.</p> <p>Example</p> <p>The following example is intended to help you compare the cost of investing in the Fund's Institutional Shares with the cost of investing in other mutual funds. It illustrates the hypothetical expenses that you would incur over various periods if you invest $10,000 in the Fund's shares. This example assumes that the Shares provide a return of 5% a year and that total annual fund operating expenses remain as stated in the preceding table. The results apply whether or not you redeem your investment at the end of the given period. Although your actual costs may be higher or lower, based on these assumptions your costs would be:</p> <p>The following table describes the fees and expenses you may pay if you buy and hold Institutional Shares of the Fund.</p> <p>The Fund seeks to track the performance of a market-weighted corporate bond index with a short-term dollar-weighted average maturity.</p> <p>Actual after-tax returns depend on your tax situation and may differ from those shown in the preceding table. When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations. Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares will be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder.</p> <p>Portfolio Turnover</p> <p>The Fund pays transaction costs, such as commissions, when it buys and sells securities (or 'turns over' its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in more taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the previous expense example, reduce the Fund's performance. During the most recent fiscal year, the Fund's portfolio turnover rate was 65%. </p> <p>An investment in the Fund could lose money over short or even long periods. </p> <p>An investment in the Fund could lose money over short or even long periods. You should expect the Fund's share price and total return to fluctuate within a wide range, like the fluctuations of the overall bond market. The Fund is subject to the following risks, which could affect the Fund's performance:</p><p>Income risk, which is the chance that the Fund's income will decline because of falling interest rates. Income risk is generally high for short-term bond funds, so investors should expect the Fund's monthly income to fluctuate.</p><p>Credit risk, which is the chance that a bond issuer will fail to pay interest and principal in a timely manner, or that negative perceptions of the issuer's ability to make such payments will cause the price of that bond to decline. Credit risk should be moderate for the Fund.</p><p>Interest rate risk, which is the chance that bond prices overall will decline because of rising interest rates. Interest rate risk should be low for the Fund because it invests primarily in short-term bonds, whose prices are much less sensitive to interest rate changes than are the prices of long-term bonds.</p><p>Index sampling risk, which is the chance that the securities selected for the Fund, in the aggregate, will not provide investment performance matching that of the Fund's target index. Index sampling risk for the Fund should be low.</p><p>An investment in the Fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.</p> <p>The Fund employs an indexing investment approach designed to track the performance of the Barclays U.S. 1-5 Year Corporate Bond Index. This Index includes U.S. dollar-denominated, investment-grade, fixed-rate, taxable securities issued by industrial, utility, and financial companies, with maturities between 1 and 5 years.</p><p>The Fund invests by sampling the Index, meaning that it holds a range of securities that, in the aggregate, approximates the full Index in terms of key risk factors and other characteristics. All of the Fund's investments will be selected through the sampling process, and at least 80% of the Fund's assets will be invested in bonds included in the Index. The Fund maintains a dollar-weighted average maturity consistent with that of the Index, which, as of August 31, 2012, was 3.0 years.</p> <p>An investment in the Fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.</p> <p>The following bar chart and table are intended to help you understand the risks of investing in the Fund.</p> <p>800-662-7447</p> <p>vanguard.com/performance </p> <p>Keep in mind that the Fund's past performance (before and after taxes) does not indicate how the Fund will perform in the future. </p> <p>When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption.</p> <p>Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan.</p> <p>Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares will be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder.</p> <p>The following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows the performance of the Fund's Signal Shares (including operating expenses but excluding shareholder fees) in their first full calendar year. The table shows how the average annual total returns (including operating expenses and any applicable shareholder fees) compare with those of the Fund's target index, which has investment characteristics similar to those of the Fund. Keep in mind that the Fund's past performance does not indicate how the Fund will perform in the future. Updated performance information is available on our website at vanguard.com/performance or by calling Vanguard toll-free at 800-662-7447.</p> <p>Example</p> <p>The following example is intended to help you compare the cost of investing in the Fund's Signal Shares with the cost of investing in other mutual funds. It illustrates the hypothetical expenses that you would incur over various periods if you invest $10,000 in the Fund's shares. This example assumes that the Shares provide a return of 5% a year and that total annual fund operating expenses remain as stated in the preceding table. The results apply whether or not you redeem your investment at the end of the given period. Although your actual costs may be higher or lower, based on these assumptions your costs would be:</p> <p>The following table describes the fees and expenses you may pay if you buy and hold Signal Shares of the Fund.</p> <p>The Fund seeks to track the performance of a market-weighted corporate bond index with a short-term dollar-weighted average maturity.</p> <p>Portfolio Turnover</p> <p>The Fund pays transaction costs, such as commissions, when it buys and sells securities (or 'turns over' its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in more taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the previous expense example, reduce the Fund's performance. During the most recent fiscal year, the Fund's portfolio turnover rate was 65%. </p> <p>The Fund is designed for investors with a low tolerance for risk, but you could still lose money by investing in it.</p><p>An investment in the Fund could lose money over short or even long periods. </p> <p>An investment in the Fund could lose money over short or even long periods. You should expect the Fund's share price and total return to fluctuate within a wide range, like the fluctuations of the overall bond market. The Fund is subject to the following risks, which could affect the Fund's performance:</p><p>Income risk, which is the chance that the Fund's income will decline because of falling interest rates. Income risk is generally high for short-term bond funds, so investors should expect the Fund's monthly income to fluctuate.</p><p>Credit risk, which is the chance that a bond issuer will fail to pay interest and principal in a timely manner, or that negative perceptions of the issuer's ability to make such payments will cause the price of that bond to decline. Credit risk should be moderate for the Fund.</p><p>Interest rate risk, which is the chance that bond prices overall will decline because of rising interest rates. Interest rate risk should be low for the Fund because it invests primarily in short-term bonds, whose prices are much less sensitive to interest rate changes than are the prices of long-term bonds.</p><p>Index sampling risk, which is the chance that the securities selected for the Fund, in the aggregate, will not provide investment performance matching that of the Fund's target index. Index sampling risk for the Fund should be low.</p><p>An investment in the Fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.</p> <p>The Fund employs an indexing investment approach designed to track the performance of the Barclays U.S. 1-5 Year Corporate Bond Index. This Index includes U.S. dollar-denominated, investment-grade, fixed-rate, taxable securities issued by industrial, utility, and financial companies, with maturities between 1 and 5 years.</p><p>The Fund invests by sampling the Index, meaning that it holds a range of securities that, in the aggregate, approximates the full Index in terms of key risk factors and other characteristics. All of the Fund's investments will be selected through the sampling process, and at least 80% of the Fund's assets will be invested in bonds included in the Index. The Fund maintains a dollar-weighted average maturity consistent with that of the Index, which, as of August 31, 2012, was 3.0 years.</p> <p>An investment in the Fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.</p> <p>The following bar chart and table are intended to help you understand the risks of investing in the Fund.</p> <p>The bar chart shows the performance of the Fund's Signal Shares (including operating expenses but excluding shareholder fees) in their first full calendar year.</p> <p>800-662-7447</p> <p>vanguard.com/performance </p> <p>Keep in mind that the Fund's past performance does not indicate how the Fund will perform in the future.</p> <p>The following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows the performance of the Fund's Signal Shares (including operating expenses but excluding shareholder fees) in their first full calendar year. The table shows how the average annual total returns of the Signal Shares (including operating expenses and any applicable shareholder fees) compare with those of the Fund's target index, which has investment characteristics similar to those of the Fund. Keep in mind that the Fund's past performance (before and after taxes) does not indicate how the Fund will perform in the future. Updated performance information is available on our website at vanguard.com/performance or by calling Vanguard toll-free at 800-662-7447.</p> <p>Example</p> <p>The following example is intended to help you compare the cost of investing in the Fund's Signal Shares with the cost of investing in other mutual funds. It illustrates the hypothetical expenses that you would incur over various periods if you invest $10,000 in the Fund's shares. This example assumes that the Shares provide a return of 5% a year and that total annual fund operating expenses remain as stated in the preceding table. The results apply whether or not you redeem your investment at the end of the given period. Although your actual costs may be higher or lower, based on these assumptions your costs would be:</p> <p>The following table describes the fees and expenses you may pay if you buy and hold Signal Shares of the Fund.</p> <p>The Fund seeks to track the performance of a market-weighted corporate bond index with a short-term dollar-weighted average maturity.</p> <p>Actual after-tax returns depend on your tax situation and may differ from those shown in the preceding table. When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations. Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares will be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder.</p> <p>Portfolio Turnover</p> <p>The Fund pays transaction costs, such as commissions, when it buys and sells securities (or 'turns over' its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in more taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the previous expense example, reduce the Fund's performance. During the most recent fiscal year, the Fund's portfolio turnover rate was 65%. </p> <p>An investment in the Fund could lose money over short or even long periods. </p> <p>An investment in the Fund could lose money over short or even long periods. You should expect the Fund's share price and total return to fluctuate within a wide range, like the fluctuations of the overall bond market. The Fund is subject to the following risks, which could affect the Fund's performance:</p><p>Income risk, which is the chance that the Fund's income will decline because of falling interest rates. Income risk is generally high for short-term bond funds, so investors should expect the Fund's monthly income to fluctuate.</p><p>Credit risk, which is the chance that a bond issuer will fail to pay interest and principal in a timely manner, or that negative perceptions of the issuer's ability to make such payments will cause the price of that bond to decline. Credit risk should be moderate for the Fund.</p><p>Interest rate risk, which is the chance that bond prices overall will decline because of rising interest rates. Interest rate risk should be low for the Fund because it invests primarily in short-term bonds, whose prices are much less sensitive to interest rate changes than are the prices of long-term bonds.</p><p>Index sampling risk, which is the chance that the securities selected for the Fund, in the aggregate, will not provide investment performance matching that of the Fund's target index. Index sampling risk for the Fund should be low.</p><p>An investment in the Fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.</p> <p>The Fund employs an indexing investment approach designed to track the performance of the Barclays U.S. 1-5 Year Corporate Bond Index. This Index includes U.S. dollar-denominated, investment-grade, fixed-rate, taxable securities issued by industrial, utility, and financial companies, with maturities between 1 and 5 years.</p><p>The Fund invests by sampling the Index, meaning that it holds a range of securities that, in the aggregate, approximates the full Index in terms of key risk factors and other characteristics. All of the Fund's investments will be selected through the sampling process, and at least 80% of the Fund's assets will be invested in bonds included in the Index. The Fund maintains a dollar-weighted average maturity consistent with that of the Index, which, as of August 31, 2012, was 3.0 years.</p> <p>An investment in the Fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.</p> <p>The following bar chart and table are intended to help you understand the risks of investing in the Fund.</p> <p>The bar chart shows the performance of the Fund's Signal Shares (including operating expenses but excluding shareholder fees) in their first full calendar year.</p> <p>800-662-7447</p> <p>vanguard.com/performance </p> <p>Keep in mind that the Fund's past performance (before and after taxes) does not indicate how the Fund will perform in the future. </p> <p>When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption.</p> <p>Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan.</p> <p>Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares will be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder.</p> <div style="display:none">~ http://vanguard/role/S000026862ShareholderFeesInstitutional column period compact * column rr_ProspectusShareClassAxis compact * row primary compact * row dei_LegalEntityAxis compact vanguard_S000026862Member ~ </div> <div style="display:none">~ http://vanguard/role/S000026862ShareholderFeesSignal column period compact * column rr_ProspectusShareClassAxis compact * row primary compact * row dei_LegalEntityAxis compact vanguard_S000026862Member ~ </div> <div style="display:none">~ http://vanguard/role/S000026862ShareholderFeesParticipant column period compact * column rr_ProspectusShareClassAxis compact * row primary compact * row dei_LegalEntityAxis compact vanguard_S000026862Member ~ </div> <div style="display:none">~ http://vanguard/role/S000026862ShareholderFeesETF column period compact * column rr_ProspectusShareClassAxis compact * row primary compact * row dei_LegalEntityAxis compact vanguard_S000026862Member ~ </div> <div style="display:none">~ http://vanguard/role/S000026862PerformanceTableDataInstitutional column primary compact * row dei_LegalEntityAxis compact vanguard_S000026862Member row rr_ProspectusShareClassAxis compact * row rr_PerformanceMeasureAxis compact * ~ </div> <div style="display:none">~ http://vanguard/role/S000026862PerformanceTableDataSignal column primary compact * row dei_LegalEntityAxis compact vanguard_S000026862Member row rr_ProspectusShareClassAxis compact * row rr_PerformanceMeasureAxis compact * ~ </div> <div style="display:none">~ http://vanguard/role/S000026862PerformanceTableDataParticipant column primary compact * row dei_LegalEntityAxis compact vanguard_S000026862Member row rr_ProspectusShareClassAxis compact * row rr_PerformanceMeasureAxis compact * ~ </div> <div style="display:none">~ http://vanguard/role/S000026862PerformanceTableDataETF column primary compact * row dei_LegalEntityAxis compact vanguard_S000026862Member row rr_ProspectusShareClassAxis compact * row rr_PerformanceMeasureAxis compact * ~ </div> <div style="display:none">~ http://vanguard/role/S000026862OperatingExpensesInstitutional column period compact * column rr_ProspectusShareClassAxis compact * row primary compact * row dei_LegalEntityAxis compact vanguard_S000026862Member ~ </div> <div style="display:none">~ http://vanguard/role/S000026862OperatingExpensesETF column period compact * column rr_ProspectusShareClassAxis compact * row primary compact * row dei_LegalEntityAxis compact vanguard_S000026862Member ~ </div> <div style="display:none">~ http://vanguard/role/S000026862OperatingExpensesSignal column period compact * column rr_ProspectusShareClassAxis compact * row primary compact * row dei_LegalEntityAxis compact vanguard_S000026862Member ~ </div> <div style="display:none">~ http://vanguard/role/S000026862OperatingExpensesParticipant column period compact * column rr_ProspectusShareClassAxis compact * row primary compact * row dei_LegalEntityAxis compact vanguard_S000026862Member ~ </div> <div style="display:none">~ http://vanguard/role/S000026862ExpenseExampleNoRedemptionInstitutional column period compact * column rr_ProspectusShareClassAxis compact * row primary compact * row dei_LegalEntityAxis compact vanguard_S000026862Member ~ </div> <div style="display:none">~ http://vanguard/role/S000026862ExpenseExampleNoRedemptionETF column period compact * column rr_ProspectusShareClassAxis compact * row primary compact * row dei_LegalEntityAxis compact vanguard_S000026862Member ~ </div> <div style="display:none">~ http://vanguard/role/S000026862ExpenseExampleNoRedemptionSignal column period compact * column rr_ProspectusShareClassAxis compact * row primary compact * row dei_LegalEntityAxis compact vanguard_S000026862Member ~ </div> <div style="display:none">~ http://vanguard/role/S000026862ExpenseExampleNoRedemptionParticipant column period compact * column rr_ProspectusShareClassAxis compact * row primary compact * row dei_LegalEntityAxis compact vanguard_S000026862Member ~ </div> Shareholder Fees (Fees paid directly from your investment) Shareholder Fees (Fees paid directly from your investment) Shareholder Fees (Fees paid directly from your investment) Shareholder Fees (Fees paid directly from your investment) Annual Fund Operating Expenses (Expenses that you pay each year as a percentage of the value of your investment) Annual Fund Operating Expenses (Expenses that you pay each year as a percentage of the value of your investment) Annual Fund Operating Expenses (Expenses that you pay each year as a percentage of the value of your investment) Annual Fund Operating Expenses (Expenses that you pay each year as a percentage of the value of your investment) Average Annual Total Returns for Periods Ended December 31, 2011 Average Annual Total Returns for Periods Ended December 31, 2011 Average Annual Total Returns for Periods Ended December 31, 2011 Average Annual Total Returns for Periods Ended December 31, 2011 Annual Total Returns Fees and Expenses Investment Objective Primary Risks Risk/Return Primary Investment Strategies 0.72 2012-12-21 (reflects no deduction for fees, expenses or taxes) Annual Total Returns Fees and Expenses Investment Objective Primary Risks Risk/Return Primary Investment Strategies 0.72 2012-12-21 (reflects no deduction for fees, expenses or taxes) Annual Total Returns Fees and Expenses Investment Objective Primary Risks Risk/Return Primary Investment Strategies 0.72 2012-12-21 (reflects no deduction for fees or expenses) Annual Total Returns Fees and Expenses Investment Objective Primary Risks Risk/Return Primary Investment Strategies 0.72 2012-12-21 (reflects no deduction for fees, expenses or taxes) <p>The following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund's ETF Shares (based on NAV) has varied from one calendar year to another over the periods shown. The table shows how the average annual total returns of the ETF Shares compare with those of the Fund's target index, which has investment characterstics similar to those of the Fund. Keep in mind that the Fund's past performance (before and after taxes) does not indicate how the Fund will perform in the future. Updated performance information is available on our website at vanguard.com/performance or by calling Vanguard toll-free at800-662-7447.</p> <p>This example does not include the brokerage commissions that you may pay to buy and sell ETF Shares of the Fund. </p> <p>Example</p> <p>The following example is intended to help you compare the cost of investing in Short-Term Government Bond ETF with the cost of investing in other funds. It illustrates the hypothetical expenses that you would incur over various periods if you invest $10,000in Short-Term Government Bond ETF. This example assumes that Short-Term Government Bond ETF provides a return of 5% a year and that total annual fund operating expenses remain as stated in the preceding table. The results apply whether or not you redeem your investment at the end of the given period. Although your actual costs may be higher or lower, based on these assumptions your costs would be:</p> <p>The following table describes the fees and expenses you may pay if you buy and hold ETF Shares of the Fund.</p> <p>The Fund seeks to track the performance of a market-weighted government bond index with a short-term dollar-weighted average maturity.</p> <p>Actual after-tax returns depend on your tax situation and may differ from those shown in the preceding table. When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations. Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares will be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder.</p> <p>Portfolio Turnover</p> <p>The Fund pays transaction costs, such as commissions, when it buys and sells securities (or 'turns over' its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in more taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the previous expense example, reduce the Fund's performance. During the most recent fiscal year, the Fund's portfolio turnover rate was 72%. </p> <p>The Fund is designed for investors with a low tolerance for risk, but you could still lose money by investing in it.</p> <p>The Fund is designed for investors with a low tolerance for risk, but you could still lose money by investing in it. The Fund is subject to the following risks, which could affect the Fund's performance:</p><p>Income risk, which is the chance that the Fund's income will decline because of falling interest rates. Income risk is generally high for short-term bond funds, so investors should expect the Fund's monthly income to fluctuate.</p><p>Interest rate risk, which is the chance that bond prices overall will decline because of rising interest rates. Interest rate risk should be low for the Fund because it invests primarily in short-term bonds, whose prices are much less sensitive to interest rate changes than are the prices of long-term bonds.</p><p>Credit risk, which is the chance that a bond issuer will fail to pay interest and principal in a timely manner, or that negative perceptions of the issuer's ability to make such payments will cause the price of that bond to decline. Credit risk should be very low for the Fund because it invests only in bonds issued by the U.S. Treasury or U.S. government agencies and instrumentalities.</p><p>Index sampling risk, which is the chance that the securities selected for the Fund, in the aggregate, will not provide investment performance matching that of the Fund's target index. Index sampling risk for the Fund should be low.</p><p>Because ETF Shares are traded on an exchange, they are subject to additional risks:</p><p>Short-Term Government Bond ETF Shares are listed for trading on Nasdaq and are bought and sold on the secondary market at market prices. Although it is expected that the market price of a Short-Term Government Bond ETF Share typically will approximate its net asset value (NAV), there may be times when the market price and the NAV differ significantly. Thus, you may pay more or less than NAV when you buy Short-Term Government Bond ETF Shares on the secondary market, and you may receive more or less than NAV when you sell those shares.</p><p>Although Short-Term Government Bond ETF Shares are listed for trading on Nasdaq, it is possible that an active trading market may not be maintained.</p><p>Trading of Short-Term Government Bond ETF Shares on Nasdaq may be halted by the activation of individual or marketwide 'circuit breakers' (which halt trading for a specific period of time when the price of a particular security or overall market prices decline by a specified percentage). Trading of Short-Term Government Bond ETF Shares may also be halted if (1) the shares are delisted from Nasdaq without first being listed on another exchange or (2) Nasdaq officials determine that such action is appropriate in the interest of a fair and orderly market or to protect investors.</p><p>An investment in the Fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.</p> <p>The Fund employs an indexing investment approach designed to track the performance of the Barclays U.S. 1-3 Year Government Float Adjusted Index. This Index includes fixed income securities issued by the U.S. Treasury (not including inflation-protected securities) and U.S. government agencies and instrumentalities, as well as corporate or dollar-denominated foreign debt guaranteed by the U.S. government, all with maturities between 1 and 3 years.</p><p>The Fund invests by sampling the Index, meaning that it holds a range of securities that, in the aggregate, approximates the full Index in terms of key risk factors and other characteristics. All of the Fund's investments will be selected through the sampling process, and at least 80% of the Fund's assets will be invested in bonds included in the Index. The Fund maintains a dollar-weighted average maturity consistent with that of the Index, which, as of August 31, 2012, was 1.9 years.</p> <p>An investment in the Fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.</p> <p>The following bar chart and table are intended to help you understand the risks of investing in the Fund.</p> <p>800-662-7447</p> <p>vanguard.com/performance </p> <p>Keep in mind that the Fund's past performance (before and after taxes) does not indicate how the Fund will perform in the future. </p> <p>When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption.</p> <p>Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan.</p> <p>Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares will be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder.</p> <p>The following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows the performance of the Fund's Institutional Shares in their first full calendar year. The table shows how the average annual total returns of the Institutional Shares compare with those of the Fund's target index, which has investment characteristics similar to those of the Fund. Keep in mind that the Fund's past performance (before and after taxes) does not indicate how the Fund will perform in the future. Updated performance information is available on our website at vanguard.com/performance or by calling Vanguard toll-free at 800-662-7447.</p> <p>Example</p> <p>The following example is intended to help you compare the cost of investing in the Fund's Institutional Shares with the cost of investing in other mutual funds. It illustrates the hypothetical expenses that you would incur over various periods if you invest $10,000 in the Fund's shares. This example assumes that the Shares provide a return of 5% a year and that total annual fund operating expenses remain as stated in the preceding table. The results apply whether or not you redeem your investment at the end of the given period. Although your actual costs may be higher or lower, based on these assumptions your costs would be:</p> <p>The following table describes the fees and expenses you may pay if you buy and hold Institutional Shares of the Fund.</p> <p>The Fund seeks to track the performance of a market-weighted government bond index with a short-term dollar-weighted average maturity.</p> <p>Actual after-tax returns depend on your tax situation and may differ from those shown in the preceding table. When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations. Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares will be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder.</p> <p>Portfolio Turnover</p> <p>The Fund pays transaction costs, such as commissions, when it buys and sells securities (or 'turns over' its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in more taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the previous expense example, reduce the Fund's performance. During the most recent fiscal year, the Fund's portfolio turnover rate was 72%. </p> <p>The Fund is designed for investors with a low tolerance for risk, but you could still lose money by investing in it.</p> <p>The Fund is designed for investors with a low tolerance for risk, but you could still lose money by investing in it. The Fund is subject to the following risks, which could affect the Fund's performance:</p><p>Income risk, which is the chance that the Fund's income will decline because of falling interest rates. Income risk is generally high for short-term bond funds, so investors should expect the Fund's monthly income to fluctuate.</p><p>Interest rate risk, which is the chance that bond prices overall will decline because of rising interest rates. Interest rate risk should be low for the Fund because it invests primarily in short-term bonds, whose prices are much less sensitive to interest rate changes than are the prices of long-term bonds.</p><p>Credit risk, which is the chance that a bond issuer will fail to pay interest and principal in a timely manner, or that negative perceptions of the issuer's ability to make such payments will cause the price of that bond to decline. Credit risk should be very low for the Fund because it invests only in bonds issued by the U.S. Treasury or U.S. government agencies and instrumentalities.</p><p>Index sampling risk, which is the chance that the securities selected for the Fund, in the aggregate, will not provide investment performance matching that of the Fund's target index. Index sampling risk for the Fund should be low.</p><p>An investment in the Fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.</p> <p>The Fund employs an indexing investment approach designed to track the performance of the Barclays U.S. 1-3 Year Government Float Adjusted Index. This Index includes fixed income securities issued by the U.S. Treasury (not including inflation-protected securities) and U.S. government agencies and instrumentalities, as well as corporate or dollar-denominated foreign debt guaranteed by the U.S. government, all with maturities between 1 and 3 years.</p><p>The Fund invests by sampling the Index, meaning that it holds a range of securities that, in the aggregate, approximates the full Index in terms of key risk factors and other characteristics. All of the Fund's investments will be selected through the sampling process, and at least 80% of the Fund's assets will be invested in bonds included in the Index. The Fund maintains a dollar-weighted average maturity consistent with that of the Index, which, as of August 31, 2012, was 1.9 years.</p> <p>An investment in the Fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.</p> <p>The following bar chart and table are intended to help you understand the risks of investing in the Fund.</p> <p>The bar chart shows the performance of the Fund's Institutional Shares in their first full calendar year.</p> <p>800-662-7447</p> <p>vanguard.com/performance </p> <p>Keep in mind that the Fund's past performance (before and after taxes) does not indicate how the Fund will perform in the future. </p> <p>When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption.</p> <p>Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan.</p> <p>Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares will be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder.</p> <p>The following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund's Signal Shares has varied from one calendar year to another over the periods shown. The table shows how the average annual total returns compare with those of the Fund's target index, which has investment characteristics similar to those of the Fund. Keep in mind that the Fund's past performance does not indicate how the Fund will perform in the future. Updated performance information is available on our website at vanguard.com/performance or by calling Vanguard toll-free at800-662-7447.</p> <p>Example</p> <p>The following example is intended to help you compare the cost of investing in the Fund's Signal Shares with the cost of investing in other mutual funds. It illustrates the hypothetical expenses that you would incur over various periods if you invest $10,000 in the Fund's shares. This example assumes that the Shares provide a return of 5% a year and that total annual fund operating expenses remain as stated in the preceding table. The results apply whether or not you redeem your investment at the end of the given period. Although your actual costs may be higher or lower, based on these assumptions your costs would be:</p> <p>The following table describes the fees and expenses you may pay if you buy and hold Signal Shares of the Fund.</p> <p>The Fund seeks to track the performance of a market-weighted government bond index with a short-term dollar-weighted average maturity.</p> <p>Portfolio Turnover</p> <p>The Fund pays transaction costs, such as commissions, when it buys and sells securities (or 'turns over' its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in more taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the previous expense example, reduce the Fund's performance. During the most recent fiscal year, the Fund's portfolio turnover rate was 72%. </p> <p>The Fund is designed for investors with a low tolerance for risk, but you could still lose money by investing in it.</p> <p>The Fund is designed for investors with a low tolerance for risk, but you could still lose money by investing in it. The Fund is subject to the following risks, which could affect the Fund's performance:</p><p>Income risk, which is the chance that the Fund's income will decline because of falling interest rates. Income risk is generally high for short-term bond funds, so investors should expect the Fund's monthly income to fluctuate.</p><p>Interest rate risk, which is the chance that bond prices overall will decline because of rising interest rates. Interest rate risk should be low for the Fund because it invests primarily in short-term bonds, whose prices are much less sensitive to interest rate changes than are the prices of long-term bonds.</p><p>Credit risk, which is the chance that a bond issuer will fail to pay interest and principal in a timely manner, or that negative perceptions of the issuer's ability to make such payments will cause the price of that bond to decline. Credit risk should be very low for the Fund because it invests only in bonds issued by the U.S. Treasury or U.S. government agencies and instrumentalities.</p><p>Index sampling risk, which is the chance that the securities selected for the Fund, in the aggregate, will not provide investment performance matching that of the Fund's target index. Index sampling risk for the Fund should be low.</p><p>An investment in the Fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.</p> <p>The Fund employs an indexing investment approach designed to track the performance of the Barclays U.S. 1-3 Year Government Float Adjusted Index. This Index includes fixed income securities issued by the U.S. Treasury (not including inflation-protected securities) and U.S. government agencies and instrumentalities, as well as corporate or dollar-denominated foreign debt guaranteed by the U.S. government, all with maturities between 1 and 3 years.</p><p>The Fund invests by sampling the Index, meaning that it holds a range of securities that, in the aggregate, approximates the full Index in terms of key risk factors and other characteristics. All of the Fund's investments will be selected through the sampling process, and at least 80% of the Fund's assets will be invested in bonds included in the Index. The Fund maintains a dollar-weighted average maturity consistent with that of the Index, which, as of August 31, 2012, was 1.9 years.</p> <p>An investment in the Fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.</p> <p>The following bar chart and table are intended to help you understand the risks of investing in the Fund.</p> <p>800-662-7447</p> <p>vanguard.com/performance </p> <p>Keep in mind that the Fund's past performance does not indicate how the Fund will perform in the future.</p> <p>The following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund's Signal Shares has varied from one calendar year to another over the periods shown. The table shows how the average annual total returns of the Signal Shares compare with those of the Fund's target index, which has investment characteristics similar to those of the Fund. Keep in mind that the Fund's past performance (before and after taxes) does not indicate how the Fund will perform in the future. Updated performance information is available on our website at vanguard.com/performance or by calling Vanguard toll-free at800-662-7447.</p> <p>Example</p> <p>The following example is intended to help you compare the cost of investing in the Fund's Signal Shares with the cost of investing in other mutual funds. It illustrates the hypothetical expenses that you would incur over various periods if you invest $10,000 in the Fund's shares. This example assumes that the Shares provide a return of 5% a year and that total annual fund operating expenses remain as stated in the preceding table. The results apply whether or not you redeem your investment at the end of the given period. Although your actual costs may be higher or lower, based on these assumptions your costs would be:</p> <p>The following table describes the fees and expenses you may pay if you buy and hold Signal Shares of the Fund.</p> <p>The Fund seeks to track the performance of a market-weighted government bond index with a short-term dollar-weighted average maturity.</p> <p>Actual after-tax returns depend on your tax situation and may differ from those shown in the preceding table. When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations. Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares will be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder.</p> <p>Portfolio Turnover</p> <p>The Fund pays transaction costs, such as commissions, when it buys and sells securities (or 'turns over' its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in more taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the previous expense example, reduce the Fund's performance. During the most recent fiscal year, the Fund's portfolio turnover rate was 72%. </p> <p>The Fund is designed for investors with a low tolerance for risk, but you could still lose money by investing in it.</p> <p>The Fund is designed for investors with a low tolerance for risk, but you could still lose money by investing in it. The Fund is subject to the following risks, which could affect the Fund's performance:</p><p>Income risk, which is the chance that the Fund's income will decline because of falling interest rates. Income risk is generally high for short-term bond funds, so investors should expect the Fund's monthly income to fluctuate.</p><p>Interest rate risk, which is the chance that bond prices overall will decline because of rising interest rates. Interest rate risk should be low for the Fund because it invests primarily in short-term bonds, whose prices are much less sensitive to interest rate changes than are the prices of long-term bonds.</p><p>Credit risk, which is the chance that a bond issuer will fail to pay interest and principal in a timely manner, or that negative perceptions of the issuer's ability to make such payments will cause the price of that bond to decline. Credit risk should be very low for the Fund because it invests only in bonds issued by the U.S. Treasury or U.S. government agencies and instrumentalities.</p><p>Index sampling risk, which is the chance that the securities selected for the Fund, in the aggregate, will not provide investment performance matching that of the Fund's target index. Index sampling risk for the Fund should be low.</p><p>An investment in the Fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.</p> <p>The Fund employs an indexing investment approach designed to track the performance of the Barclays U.S. 1-3 Year Government Float Adjusted Index. This Index includes fixed income securities issued by the U.S. Treasury (not including inflation-protected securities) and U.S. government agencies and instrumentalities, as well as corporate or dollar-denominated foreign debt guaranteed by the U.S. government, all with maturities between 1 and 3 years.</p><p>The Fund invests by sampling the Index, meaning that it holds a range of securities that, in the aggregate, approximates the full Index in terms of key risk factors and other characteristics. All of the Fund's investments will be selected through the sampling process, and at least 80% of the Fund's assets will be invested in bonds included in the Index. The Fund maintains a dollar-weighted average maturity consistent with that of the Index, which, as of August 31, 2012, was 1.9 years.</p> <p>An investment in the Fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.</p> <p>The following bar chart and table are intended to help you understand the risks of investing in the Fund.</p> <p>800-662-7447</p> <p>vanguard.com/performance </p> <p>Keep in mind that the Fund's past performance (before and after taxes) does not indicate how the Fund will perform in the future. </p> <p>When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption.</p> <p>Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan.</p> <p>Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares will be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder.</p> <div style="display:none">~ http://vanguard/role/S000026859ShareholderFeesInstitutional column period compact * column rr_ProspectusShareClassAxis compact * row primary compact * row dei_LegalEntityAxis compact vanguard_S000026859Member ~ </div> <div style="display:none">~ http://vanguard/role/S000026859ShareholderFeesSignal column period compact * column rr_ProspectusShareClassAxis compact * row primary compact * row dei_LegalEntityAxis compact vanguard_S000026859Member ~ </div> <div style="display:none">~ http://vanguard/role/S000026859ShareholderFeesParticipant column period compact * column rr_ProspectusShareClassAxis compact * row primary compact * row dei_LegalEntityAxis compact vanguard_S000026859Member ~ </div> <div style="display:none">~ http://vanguard/role/S000026859ShareholderFeesETF column period compact * column rr_ProspectusShareClassAxis compact * row primary compact * row dei_LegalEntityAxis compact vanguard_S000026859Member ~ </div> <div style="display:none">~ http://vanguard/role/S000026859PerformanceTableDataInstitutional column primary compact * row dei_LegalEntityAxis compact vanguard_S000026859Member row rr_ProspectusShareClassAxis compact * row rr_PerformanceMeasureAxis compact * ~ </div> <div style="display:none">~ http://vanguard/role/S000026859PerformanceTableDataSignal column primary compact * row dei_LegalEntityAxis compact vanguard_S000026859Member row rr_ProspectusShareClassAxis compact * row rr_PerformanceMeasureAxis compact * ~ </div> <div style="display:none">~ http://vanguard/role/S000026859PerformanceTableDataParticipant column primary compact * row dei_LegalEntityAxis compact vanguard_S000026859Member row rr_ProspectusShareClassAxis compact * row rr_PerformanceMeasureAxis compact * ~ </div> <div style="display:none">~ http://vanguard/role/S000026859PerformanceTableDataETF column primary compact * row dei_LegalEntityAxis compact vanguard_S000026859Member row rr_ProspectusShareClassAxis compact * row rr_PerformanceMeasureAxis compact * ~ </div> <div style="display:none">~ http://vanguard/role/S000026859OperatingExpensesInstitutional column period compact * column rr_ProspectusShareClassAxis compact * row primary compact * row dei_LegalEntityAxis compact vanguard_S000026859Member ~ </div> <div style="display:none">~ http://vanguard/role/S000026859OperatingExpensesETF column period compact * column rr_ProspectusShareClassAxis compact * row primary compact * row dei_LegalEntityAxis compact vanguard_S000026859Member ~ </div> <div style="display:none">~ http://vanguard/role/S000026859OperatingExpensesSignal column period compact * column rr_ProspectusShareClassAxis compact * row primary compact * row dei_LegalEntityAxis compact vanguard_S000026859Member ~ </div> <div style="display:none">~ http://vanguard/role/S000026859OperatingExpensesParticipant column period compact * column rr_ProspectusShareClassAxis compact * row primary compact * row dei_LegalEntityAxis compact vanguard_S000026859Member ~ </div> <div style="display:none">~ http://vanguard/role/S000026859ExpenseExampleNoRedemptionInstitutional column period compact * column rr_ProspectusShareClassAxis compact * row primary compact * row dei_LegalEntityAxis compact vanguard_S000026859Member ~ </div> <div style="display:none">~ http://vanguard/role/S000026859ExpenseExampleNoRedemptionETF column period compact * column rr_ProspectusShareClassAxis compact * row primary compact * row dei_LegalEntityAxis compact vanguard_S000026859Member ~ </div> <div style="display:none">~ http://vanguard/role/S000026859ExpenseExampleNoRedemptionSignal column period compact * column rr_ProspectusShareClassAxis compact * row primary compact * row dei_LegalEntityAxis compact vanguard_S000026859Member ~ </div> <div style="display:none">~ http://vanguard/role/S000026859ExpenseExampleNoRedemptionParticipant column period compact * column rr_ProspectusShareClassAxis compact * row primary compact * row dei_LegalEntityAxis compact vanguard_S000026859Member ~ </div> 0.0149 2010-08-23 0.0085 -0.0002 2011-06-30 2011-03-31 <div style="display:none">~ http://xbrl.sec.gov/rr/role/BarChartData column rr_ProspectusShareClassAxis compact vanguard_C000080842Member ~ </div> Annual Total Returns - Vanguard Short-Term Government Bond Index Fund Institutional Shares <p>1 The year-to-date return as of the most recent calendar quarter, which ended on September 30, 2012 was 0.36%</p> The year-to-date return as of the most recent calendar quarter, which ended on September 30, 2012 <p>During the periods shown in the bar chart, the highest return for a calendar quarter was 0.85% (quarter ended June 30, 2011 ), and the lowest return for a quarter was -0.02% (quarter ended March 31, 2011 ).</p> (quarter ended June 30, 2011 ) (quarter ended March 31, 2011 ) 2012-09-30 0.0036 2010-08-23 0.0149 0.0114 0.0122 0.0085 0.0099 0.0081 0.0000 0.0000 0. 0 0 9. 29. 51. 115. 0.0007 0 0.0002 0.0009 0.0979 2010-03-19 0.0555 -0.0020 2011-09-30 2011-03-31 <div style="display:none">~ http://xbrl.sec.gov/rr/role/BarChartData column rr_ProspectusShareClassAxis compact vanguard_C000080845Member ~ </div> Annual Total Returns - Vanguard Intermediate-Term Government Bond Index Fund Institutional Shares <p>1 The year-to-date return as of the most recent calendar quarter, which ended on September 30, 2012 was 2.74%</p> The year-to-date return as of the most recent calendar quarter, which ended on September 30, 2012 <p>During the periods shown in the bar chart, the highest return for a calendar quarter was 5.55% (quarter ended September 30, 2011 ), and the lowest return for a quarter was -0.20% (quarter ended March 31, 2011 ).</p> (quarter ended September 30, 2011 ) (quarter ended March 31, 2011 ) 2012-09-30 0.0274 2010-03-19 0.0979 0.0833 0.0895 0.0729 0.0636 0.0649 0.0000 0.0000 0. 0 0 9. 29. 51. 115. 0.0004 0 0.0005 0.0009 0.2894 2010-07-30 0.2437 -0.0099 2011-09-30 2011-03-31 <div style="display:none">~ http://xbrl.sec.gov/rr/role/BarChartData column rr_ProspectusShareClassAxis compact vanguard_C000080848Member ~ </div> Annual Total Returns - Vanguard Long-Term Government Bond Index Fund Institutional Shares <p>1 The year-to-date return as of the most recent calendar quarter, which ended on September 30, 2012 was 4.64%</p> The year-to-date return as of the most recent calendar quarter, which ended on September 30, 2012 <p>During the periods shown in the bar chart, the highest return for a calendar quarter was 24.37% (quarter ended September 30, 2011 ), and the lowest return for a quarter was -0.99% (quarter ended March 31, 2011 ).</p> (quarter ended September 30, 2011 ) (quarter ended March 31, 2011 ) 2012-09-30 0.0464 2010-07-30 0.2894 0.1692 0.2731 0.1543 0.1865 0.1347 0.0000 0.0000 0. 0 0 9. 29. 51. 115. 0.0004 0 0.0005 0.0009 0.0299 0.0558 2009-11-19 0.0283 -0.0054 2010-09-30 2010-12-31 <div style="display:none">~ http://xbrl.sec.gov/rr/role/BarChartData column rr_ProspectusShareClassAxis compact vanguard_C000080851Member ~ </div> Annual Total Returns - Vanguard Short-Term Corporate Bond Index Fund Institutional Shares <p>1 If applicable shareholder fees were reflected, returns would be less that those shown. The year-to-date return as of the most recent calendar quarter, which ended on September 30, 2012 was 5.21%</p> The year-to-date return as of the most recent calendar quarter, which ended on September 30, 2012 <p>During the periods shown in the bar chart, the highest return for a calendar quarter was 2.83% (quarter ended September 30, 2010 ), and the lowest return for a quarter was -0.54% (quarter ended December 31, 2010 ).</p> (quarter ended September 30, 2010 ) (quarter ended December 31, 2010 ) 2012-09-30 0.0521 2009-11-19 0.0273 0.0389 0.0186 0.0301 0.0178 0.0281 (other than on reinvested dividends or capital gains) 0.0025 0.0000 0. 0 0 34. 54. 76. 140. 0.0006 0 0.0003 0.0009 0.0798 0.1074 2009-11-19 0.0557 -0.0168 2010-09-30 2010-12-31 <div style="display:none">~ http://xbrl.sec.gov/rr/role/BarChartData column rr_ProspectusShareClassAxis compact vanguard_C000080854Member ~ </div> Annual Total Returns - Vanguard Intermediate-Term Corporate Bond Index Fund Institutional Shares <p>1 If applicable shareholder fees were reflected, returns would be less that those shown. The year-to-date return as of the most recent calendar quarter, which ended on September 30, 2012 was 10.03%</p> The year-to-date return as of the most recent calendar quarter, which ended on September 30, 2012 <p>During the periods shown in the bar chart, the highest return for a calendar quarter was 5.57% (quarter ended September 30, 2010 ), and the lowest return for a quarter was -1.68% (quarter ended December 31, 2010 ).</p> (quarter ended September 30, 2010 ) (quarter ended December 31, 2010 ) 2012-09-30 0.1003 2009-11-19 0.0744 0.0848 0.0593 0.0684 0.0482 0.0627 (other than on reinvested dividends or capital gains) 0.0050 0.0000 0. 0 0 59. 79. 101. 165. 0.0006 0 0.0003 0.0009 0.1597 0.1128 2009-11-19 0.0922 -0.0272 2011-09-30 2010-12-31 <div style="display:none">~ http://xbrl.sec.gov/rr/role/BarChartData column rr_ProspectusShareClassAxis compact vanguard_C000080857Member ~ </div> Annual Total Returns - Vanguard Long-Term Corporate Bond Index Fund Institutional Shares <p>1 If applicable shareholder fees were reflected, returns would be less that those shown. The year-to-date return as of the most recent calendar quarter, which ended on September 30, 2012 was 11.34%</p> The year-to-date return as of the most recent calendar quarter, which ended on September 30, 2012 <p>During the periods shown in the bar chart, the highest return for a calendar quarter was 9.22% (quarter ended September 30, 2011 ), and the lowest return for a quarter was -2.72% (quarter ended December 31, 2010 ).</p> (quarter ended September 30, 2011 ) (quarter ended December 31, 2010 ) 2012-09-30 0.1134 2009-11-19 0.1481 0.1197 0.1282 0.0986 0.0951 0.0894 (other than on reinvested dividends or capital gains) 0.0100 0.0000 0. 0 0 109. 129. 150. 214. 0.0007 0 0.0002 0.0009 0.0000 0.0000 0. 0 0 9. 29. 51. 115. 0.0004 0 0.0005 0.0009 -0.0236 2010-03-30 0.1490 -0.1986 2011-12-31 2011-09-30 <div style="display:none">~ http://xbrl.sec.gov/rr/role/BarChartData column rr_ProspectusShareClassAxis compact vanguard_C000085513Member ~ </div> Annual Total Returns - Vanguard Explorer Value Fund Investor Shares <p>1 The year-to-date return as of the most recent calendar quarter, which ended on September 30, 2012 was 13.61%</p> The year-to-date return as of the most recent calendar quarter, which ended on September 30, 2012 <p>During the periods shown in the bar chart, the highest return for a calendar quarter was 14.90% (quarter ended December 31, 2011 ), and the lowest return for a quarter was -19.86% (quarter ended September 30, 2011 ).</p> (quarter ended December 31, 2011 ) (quarter ended September 30, 2011 ) 2012-09-30 0.1361 2010-03-30 -0.0236 0.0778 -0.0387 0.0661 -0.0119 0.0609 0.0000 0.0000 20. 0 0 64. 202. 351. 786. 0.0052 0 0.0007 0.0004 Acquired Fund Fees and Expenses are not included in the Fund's financial statements, which provide a clearer picture of a fund's actual operating costs. 0.0063 0.0143 2010-10-15 0.1181 -0.1469 2011-12-31 2011-09-30 <div style="display:none">~ http://xbrl.sec.gov/rr/role/BarChartData column rr_ProspectusShareClassAxis compact vanguard_C000092009Member ~ </div> Annual Total Returns - Vanguard Russell 1000 Index Fund Institutional Shares <p>1 The year-to-date return as of the most recent calendar quarter, which ended on September 30, 2012 was 16.22%</p> The year-to-date return as of the most recent calendar quarter, which ended on September 30, 2012 <p>During the periods shown in the bar chart, the highest return for a calendar quarter was 11.81% (quarter ended December 31, 2011 ), and the lowest return for a quarter was -14.69% (quarter ended September 30, 2011 ).</p> (quarter ended December 31, 2011 ) (quarter ended September 30, 2011 ) 2012-09-30 0.1622 2010-10-15 0.0143 0.0765 0.0118 0.0738 0.0126 0.0650 0.0000 0.0000 20. 0 0 8. 26. 45. 103. 0.0001 0 0.0007 0.0008 0.0030 2010-12-10 0.1309 -0.1624 2011-12-31 2011-09-30 <div style="display:none">~ http://xbrl.sec.gov/rr/role/BarChartData column rr_ProspectusShareClassAxis compact vanguard_C000092011Member ~ </div> Annual Total Returns - Vanguard Russell 1000 Value Index Fund Institutional Shares <p>1 The year-to-date return as of the most recent calendar quarter, which ended on September 30, 2012 was 15.69%</p> The year-to-date return as of the most recent calendar quarter, which ended on September 30, 2012 <p>During the periods shown in the bar chart, the highest return for a calendar quarter was 13.09% (quarter ended December 31, 2011 ), and the lowest return for a quarter was -16.24% (quarter ended September 30, 2011 ).</p> (quarter ended December 31, 2011 ) (quarter ended September 30, 2011 ) 2012-09-30 0.1569 2010-12-10 0.0030 0.0225 -0.0003 0.0192 0.0061 0.0190 0.0000 0.0000 20. 0 0 8. 26. 45. 103. 0.0004 0 0.0004 0.0008 0.0247 2010-12-06 0.1059 -0.1323 2011-12-31 2011-09-30 <div style="display:none">~ http://xbrl.sec.gov/rr/role/BarChartData column rr_ProspectusShareClassAxis compact vanguard_C000092013Member ~ </div> Annual Total Returns - Vanguard Russell 1000 Growth Index Fund Institutional Shares <p>1 The year-to-date return as of the most recent calendar quarter, which ended on September 30, 2012 was 16.73%</p> The year-to-date return as of the most recent calendar quarter, which ended on September 30, 2012 <p>During the periods shown in the bar chart, the highest return for a calendar quarter was 10.59% (quarter ended December 31, 2011 ), and the lowest return for a quarter was -13.23% (quarter ended September 30, 2011 ).</p> (quarter ended December 31, 2011 ) (quarter ended September 30, 2011 ) 2012-09-30 0.1673 2010-12-06 0.0247 0.0410 0.0226 0.0388 0.0188 0.0295 0.0000 0.0000 20. 0 0 8. 26. 45. 103. 0.0004 0 0.0004 0.0008 -0.0420 2010-12-22 0.1544 -0.2186 2011-12-31 2011-09-30 <div style="display:none">~ http://xbrl.sec.gov/rr/role/BarChartData column rr_ProspectusShareClassAxis compact vanguard_C000092015Member ~ </div> Annual Total Returns - Vanguard Russell 2000 Index Fund Institutional Shares <p>1 The year-to-date return as of the most recent calendar quarter, which ended on September 30, 2012 was 14.24%</p> The year-to-date return as of the most recent calendar quarter, which ended on September 30, 2012 <p>During the periods shown in the bar chart, the highest return for a calendar quarter was 15.44% (quarter ended December 31, 2011 ), and the lowest return for a quarter was -21.86% (quarter ended September 30, 2011 ).</p> (quarter ended December 31, 2011 ) (quarter ended September 30, 2011 ) 2012-09-30 0.1424 2010-12-22 -0.0420 -0.0487 -0.0441 -0.0515 -0.0262 -0.0302 0.0000 0.0000 20. 0 0 14. 45. 79. 179. 0.0001 0 0.0007 0.0006 Acquired Fund Fees and Expenses are not included in the Fund's financial statements, which provide a clearer picture of a fund's actual operating costs. 0.0014 0.0000 0.0000 20. 0 0 20. 64. 113. 255. 0.00000 0 0.0008 0.0012 Acquired Fund Fees and Expenses are not included in the Fund's financial statements, which provide a clearer picture of a fund's actual operating costs. 0.0020 0.0000 0.0000 20. 0 0 8. 26. 45. 103. 0.0001 0 0.0007 0.0008 0.0100 2010-11-01 0.1209 -0.1529 2011-12-31 2011-09-30 <div style="display:none">~ http://xbrl.sec.gov/rr/role/BarChartData column rr_ProspectusShareClassAxis compact vanguard_C000092021Member ~ </div> Annual Total Returns - Vanguard Russell 3000 Index Fund Institutional Shares <p>1 The year-to-date return as of the most recent calendar quarter, which ended on September 30, 2012 was 16.06%</p> The year-to-date return as of the most recent calendar quarter, which ended on September 30, 2012 <p>During the periods shown in the bar chart, the highest return for a calendar quarter was 12.09% (quarter ended December 31, 2011 ), and the lowest return for a quarter was -15.29% (quarter ended September 30, 2011 ).</p> (quarter ended December 31, 2011 ) (quarter ended September 30, 2011 ) 2012-09-30 0.1606 2010-11-01 0.0100 0.0716 0.0075 0.0686 0.0096 0.0607 0.0000 0.0000 20. 0 0 8. 26. 45. 103. 0.0001 0 0.0007 0.0008 0.0146 0.0220 2009-12-28 0.0116 -0.0018 2010-06-30 2010-12-31 <div style="display:none">~ http://xbrl.sec.gov/rr/role/BarChartData column rr_ProspectusShareClassAxis compact vanguard_C000080841Member ~ </div> Annual Total Returns - Vanguard Short-Term Government Bond Index Fund Signal Shares <p>1 The year-to-date return as of the most recent calendar quarter, which ended on September 30, 2012 was 0.34%</p> The year-to-date return as of the most recent calendar quarter, which ended on September 30, 2012 <p>During the periods shown in the bar chart, the highest return for a calendar quarter was 1.16% (quarter ended June 30, 2010 ), and the lowest return for a quarter was -0.18% (quarter ended December 31, 2010 ).</p> (quarter ended June 30, 2010 ) (quarter ended December 31, 2010 ) <div style="display:none">~ http://xbrl.sec.gov/rr/role/BarChartData column rr_ProspectusShareClassAxis compact vanguard_C000080841Member ~ </div> Annual Total Returns - Vanguard Short-Term Government Bond Index Fund Signal Shares <p>1 The year-to-date return as of the most recent calendar quarter, which ended on September 30, 2012 was 0.34%</p> The year-to-date return as of the most recent calendar quarter, which ended on September 30, 2012 <p>During the periods shown in the bar chart, the highest return for a calendar quarter was 1.16% (quarter ended June 30, 2010 ), and the lowest return for a quarter was -0.18% (quarter ended December 31, 2010 ).</p> (quarter ended June 30, 2010 ) (quarter ended December 31, 2010 ) 2012-09-30 0.0034 2009-12-28 0.0146 0.0180 0.0121 0.0153 0.0097 0.0138 0.0000 0.0000 0. 0 0 12. 39. 68. 154. 0.0008 0 0.0004 0.0012 0.0966 2010-08-04 0.0557 -0.0024 2011-09-30 2011-03-31 <div style="display:none">~ http://xbrl.sec.gov/rr/role/BarChartData column rr_ProspectusShareClassAxis compact vanguard_C000080844Member ~ </div> Annual Total Returns - Vanguard Intermediate-Term Government Bond Index Fund Signal Shares <p>1 The year-to-date return as of the most recent calendar quarter, which ended on September 30, 2012 was 2.73%</p> The year-to-date return as of the most recent calendar quarter, which ended on September 30, 2012 <p>During the periods shown in the bar chart, the highest return for a calendar quarter was 5.57% (quarter ended September 30, 2011 ), and the lowest return for a quarter was -0.24% (quarter ended March 31, 2011 ).</p> (quarter ended September 30, 2011 ) (quarter ended March 31, 2011 ) <div style="display:none">~ http://xbrl.sec.gov/rr/role/BarChartData column rr_ProspectusShareClassAxis compact vanguard_C000080844Member ~ </div> Annual Total Returns - Vanguard Intermediate-Term Government Bond Index Fund Signal Shares <p>1 The year-to-date return as of the most recent calendar quarter, which ended on September 30, 2012 was 2.73%</p> The year-to-date return as of the most recent calendar quarter, which ended on September 30, 2012 <p>During the periods shown in the bar chart, the highest return for a calendar quarter was 5.57% (quarter ended September 30, 2011 ), and the lowest return for a quarter was -0.24% (quarter ended March 31, 2011 ).</p> (quarter ended September 30, 2011 ) (quarter ended March 31, 2011 ) 2012-09-30 0.0273 2010-08-04 0.0966 0.0642 0.0884 0.0536 0.0628 0.0484 0.0000 0.0000 0. 0 0 12. 39. 68. 154. 0.0010 0 0.0002 0.0012 0.2888 2010-03-01 0.2435 -0.0099 2011-09-30 2011-03-31 <div style="display:none">~ http://xbrl.sec.gov/rr/role/BarChartData column rr_ProspectusShareClassAxis compact vanguard_C000080847Member ~ </div> Annual Total Returns - Vanguard Long-Term Government Bond Index Fund Signal Shares <p>1 The year-to-date return as of the most recent calendar quarter, which ended on September 30, 2012 was 4.60%</p> The year-to-date return as of the most recent calendar quarter, which ended on September 30, 2012 <p>During the periods shown in the bar chart, the highest return for a calendar quarter was 24.35% (quarter ended September 30, 2011 ), and the lowest return for a quarter was -0.99% (quarter ended March 31, 2011 ).</p> (quarter ended September 30, 2011 ) (quarter ended March 31, 2011 ) <div style="display:none">~ http://xbrl.sec.gov/rr/role/BarChartData column rr_ProspectusShareClassAxis compact vanguard_C000080847Member ~ </div> Annual Total Returns - Vanguard Long-Term Government Bond Index Fund Signal Shares <p>1 The year-to-date return as of the most recent calendar quarter, which ended on September 30, 2012 was 4.60%</p> The year-to-date return as of the most recent calendar quarter, which ended on September 30, 2012 <p>During the periods shown in the bar chart, the highest return for a calendar quarter was 24.35% (quarter ended September 30, 2011 ), and the lowest return for a quarter was -0.99% (quarter ended March 31, 2011 ).</p> (quarter ended September 30, 2011 ) (quarter ended March 31, 2011 ) 2012-09-30 0.0460 2010-03-01 0.2888 0.1893 0.2727 0.1744 0.1861 0.1527 0.0000 0.0000 0. 0 0 12. 39. 68. 154. 0.0010 0 0.0002 0.0012 0.0291 2010-11-18 0.0162 -0.0036 2011-06-30 2011-09-30 <div style="display:none">~ http://xbrl.sec.gov/rr/role/BarChartData column rr_ProspectusShareClassAxis compact vanguard_C000080850Member ~ </div> Annual Total Returns - Vanguard Short-Term Corporate Bond Index Fund Signal Shares <p>1 If applicable shareholder fees were reflected, returns would be less that those shown. The year-to-date return as of the most recent calendar quarter, which ended on September 30, 2012 was 5.15%</p> The year-to-date return as of the most recent calendar quarter, which ended on September 30, 2012 <p>During the periods shown in the bar chart, the highest return for a calendar quarter was 1.62% (quarter ended June 30, 2011 ), and the lowest return for a quarter was -0.36% (quarter ended September 30, 2011 ).</p> (quarter ended June 30, 2011 ) (quarter ended September 30, 2011 ) <div style="display:none">~ http://xbrl.sec.gov/rr/role/BarChartData column rr_ProspectusShareClassAxis compact vanguard_C000080850Member ~ </div> Annual Total Returns - Vanguard Short-Term Corporate Bond Index Fund Signal Shares <p>1 If applicable shareholder fees were reflected, returns would be less that those shown. The year-to-date return as of the most recent calendar quarter, which ended on September 30, 2012 was 5.15%</p> The year-to-date return as of the most recent calendar quarter, which ended on September 30, 2012 <p>During the periods shown in the bar chart, the highest return for a calendar quarter was 1.62% (quarter ended June 30, 2011 ), and the lowest return for a quarter was -0.36% (quarter ended September 30, 2011 ).</p> (quarter ended June 30, 2011 ) (quarter ended September 30, 2011 ) 2012-09-30 0.0515 2010-11-18 0.0265 0.0190 0.0179 0.0099 0.0173 0.0110 (other than on reinvested dividends or capital gains) (other than on reinvested dividends and capital gains) 0.0025 0.0000 0. 0 0 37. 64. 93. 178. 0.0010 0 0.0002 0.0012 0.0794 2010-03-02 0.0260 0.0089 2011-06-30 2011-03-31 <div style="display:none">~ http://xbrl.sec.gov/rr/role/BarChartData column rr_ProspectusShareClassAxis compact vanguard_C000080853Member ~ </div> Annual Total Returns - Vanguard Intermediate-Term Corporate Bond Index Fund Signal Shares <p>1 If applicable shareholder fees were reflected, returns would be less that those shown. The year-to-date return as of the most recent calendar quarter, which ended on September 30, 2012 was 10.03%</p> The year-to-date return as of the most recent calendar quarter, which ended on September 30, 2012 <p>During the periods shown in the bar chart, the highest return for a calendar quarter was 2.60% (quarter ended June 30, 2011 ), and the lowest return for a quarter was 0.89% (quarter ended March 31, 2011 ).</p> (quarter ended June 30, 2011 ) (quarter ended March 31, 2011 ) <div style="display:none">~ http://xbrl.sec.gov/rr/role/BarChartData column rr_ProspectusShareClassAxis compact vanguard_C000080853Member ~ </div> Annual Total Returns - Vanguard Intermediate-Term Corporate Bond Index Fund Signal Shares <p>1 If applicable shareholder fees were reflected, returns would be less that those shown. The year-to-date return as of the most recent calendar quarter, which ended on September 30, 2012 was 10.03%</p> The year-to-date return as of the most recent calendar quarter, which ended on September 30, 2012 <p>During the periods shown in the bar chart, the highest return for a calendar quarter was 2.60% (quarter ended June 30, 2011 ), and the lowest return for a quarter was 0.89% (quarter ended March 31, 2011 ).</p> (quarter ended June 30, 2011 ) (quarter ended March 31, 2011 ) 2012-09-30 0.1003 2010-03-02 0.0740 0.0844 0.0591 0.0680 0.0479 0.0624 (other than on reinvested dividends or capital gains) (other than on reinvested dividends and capital gains) 0.0050 0.0000 0. 0 0 62. 89. 117. 203. 0.0009 0 0.0003 0.0012 0.1590 2010-01-19 0.0920 -0.0026 2011-09-30 2011-03-31 <div style="display:none">~ http://xbrl.sec.gov/rr/role/BarChartData column rr_ProspectusShareClassAxis compact vanguard_C000080856Member ~ </div> Annual Total Returns - Vanguard Long-Term Corporate Bond Index Fund Signal Shares <p>1 If applicable shareholder fees were reflected, returns would be less that those shown. The year-to-date return as of the most recent calendar quarter, which ended on September 30, 2012 was 11.32%</p> The year-to-date return as of the most recent calendar quarter, which ended on September 30, 2012 <p>During the periods shown in the bar chart, the highest return for a calendar quarter was 9.20% (quarter ended September 30, 2011 ), and the lowest return for a quarter was -0.26% (quarter ended March 31, 2011 ).</p> (quarter ended September 30, 2011 ) (quarter ended March 31, 2011 ) <div style="display:none">~ http://xbrl.sec.gov/rr/role/BarChartData column rr_ProspectusShareClassAxis compact vanguard_C000080856Member ~ </div> Annual Total Returns - Vanguard Long-Term Corporate Bond Index Fund Signal Shares <p>1 If applicable shareholder fees were reflected, returns would be less that those shown. The year-to-date return as of the most recent calendar quarter, which ended on September 30, 2012 was 11.32%</p> The year-to-date return as of the most recent calendar quarter, which ended on September 30, 2012 <p>During the periods shown in the bar chart, the highest return for a calendar quarter was 9.20% (quarter ended September 30, 2011 ), and the lowest return for a quarter was -0.26% (quarter ended March 31, 2011 ).</p> (quarter ended September 30, 2011 ) (quarter ended March 31, 2011 ) 2012-09-30 0.1132 2010-01-19 0.1474 0.1240 0.1277 0.1025 0.0947 0.0928 (other than on reinvested dividends or capital gains) (other than on reinvested dividends and capital gains) 0.0100 0.0000 0. 0 0 112. 138. 167. 252. 0.0008 0 0.0004 0.0012 0.0588 0.0523 2009-12-03 0.0276 0.0042 2010-06-30 2010-09-30 <div style="display:none">~ http://xbrl.sec.gov/rr/role/BarChartData column rr_ProspectusShareClassAxis compact vanguard_C000080859Member ~ </div> Annual Total Returns - Vanguard Mortgage-Backed Securities Index Fund Signal Shares <p>1 The year-to-date return as of the most recent calendar quarter, which ended on September 30, 2012 was 2.96%</p> The year-to-date return as of the most recent calendar quarter, which ended on September 30, 2012 <p>During the periods shown in the bar chart, the highest return for a calendar quarter was 2.76% (quarter ended June 30, 2010 ), and the lowest return for a quarter was 0.42% (quarter ended September 30, 2010 ).</p> (quarter ended June 30, 2010 ) (quarter ended September 30, 2010 ) <div style="display:none">~ http://xbrl.sec.gov/rr/role/BarChartData column rr_ProspectusShareClassAxis compact vanguard_C000080859Member ~ </div> Annual Total Returns - Vanguard Mortgage-Backed Securities Index Fund Signal Shares <p>1 The year-to-date return as of the most recent calendar quarter, which ended on September 30, 2012 was 2.96%</p> The year-to-date return as of the most recent calendar quarter, which ended on September 30, 2012 <p>During the periods shown in the bar chart, the highest return for a calendar quarter was 2.76% (quarter ended June 30, 2010 ), and the lowest return for a quarter was 0.42% (quarter ended September 30, 2010 ).</p> (quarter ended June 30, 2010 ) (quarter ended September 30, 2010 ) <div style="display:none">~ http://xbrl.sec.gov/rr/role/BarChartData column rr_ProspectusShareClassAxis compact vanguard_C000080859Member ~ </div> Annual Total Returns - Vanguard Mortgage-Backed Securities Index Fund Signal Shares <p>During the periods shown in the bar chart, the highest return for a calendar quarter was 2.76% (quarter ended June 30, 2010 ), and the lowest return for a quarter was 0.42% (quarter ended September 30, 2010 ).</p> (quarter ended June 30, 2010 ) (quarter ended September 30, 2010 ) 2009-12-03 0.0588 0.0494 0.0490 0.0376 0.0381 0.0352 0.0000 0.0000 0. 0 0 12. 39. 68. 154. 0.0007 0 0.0005 0.0012 0.0145 0.0224 2009-11-19 0.0114 -0.0018 2010-06-30 2010-12-31 <div style="display:none">~ http://xbrl.sec.gov/rr/role/BarChartData column rr_ProspectusShareClassAxis compact vanguard_C000080843Member ~ </div> Annual Total Returns - Vanguard Short-Term Government Bond Index Fund ETF Shares <p>1 The year-to-date return as of the most recent calendar quarter, which ended on September 30, 2012 was 0.35%</p> The year-to-date return as of the most recent calendar quarter, which ended on September 30, 2012 <p>During the periods shown in the bar chart, the highest return for a calendar quarter was 1.14% (quarter ended June 30, 2010 ), and the lowest return for a quarter was -0.18% (quarter ended December 31, 2010 ).</p> (quarter ended June 30, 2010 ) (quarter ended December 31, 2010 ) 2012-09-30 0.0035 2009-11-19 0.0145 0.0148 0.0120 0.0122 0.0096 0.0111 0.0139 0.0149 0 0 0 12. 39. 68. 154. 0.0007 0 0.0005 0.0012 0.0972 0.0694 2009-11-19 0.0555 -0.0272 2011-09-30 2010-12-31 <div style="display:none">~ http://xbrl.sec.gov/rr/role/BarChartData column rr_ProspectusShareClassAxis compact vanguard_C000080846Member ~ </div> Annual Total Returns - Vanguard Intermediate-Term Government Bond Index Fund ETF Shares <p>1 The year-to-date return as of the most recent calendar quarter, which ended on September 30, 2012 was 2.73%</p> The year-to-date return as of the most recent calendar quarter, which ended on September 30, 2012 <p>During the periods shown in the bar chart, the highest return for a calendar quarter was 5.55% (quarter ended September 30, 2011 ), and the lowest return for a quarter was -2.72% (quarter ended December 31, 2010 ).</p> (quarter ended September 30, 2011 ) (quarter ended December 31, 2010 ) 2012-09-30 0.0273 2009-11-19 0.0972 0.0694 0.0890 0.0599 0.0631 0.0536 0.0971 0.0699 0 0 0 12. 39. 68. 154. 0.0007 0 0.0005 0.0012 0.2885 0.0936 2009-11-19 0.2435 -0.0788 2011-09-30 2010-12-31 <div style="display:none">~ http://xbrl.sec.gov/rr/role/BarChartData column rr_ProspectusShareClassAxis compact vanguard_C000080849Member ~ </div> Annual Total Returns - Vanguard Long-Term Government Bond Index Fund ETF Shares <p>1 The year-to-date return as of the most recent calendar quarter, which ended on September 30, 2012 was 4.61%</p> The year-to-date return as of the most recent calendar quarter, which ended on September 30, 2012 <p>During the periods shown in the bar chart, the highest return for a calendar quarter was 24.35% (quarter ended September 30, 2011 ), and the lowest return for a quarter was -7.88% (quarter ended December 31, 2010 ).</p> (quarter ended September 30, 2011 ) (quarter ended December 31, 2010 ) 2012-09-30 0.0461 2009-11-19 0.2885 0.1550 0.2725 0.1404 0.1860 0.1236 0.2948 0.1552 0 0 0 12. 39. 68. 154. 0.0006 0 0.0006 0.0012 0.0294 0.0551 2009-11-19 0.0282 -0.0055 2010-09-30 2010-12-31 <div style="display:none">~ http://xbrl.sec.gov/rr/role/BarChartData column rr_ProspectusShareClassAxis compact vanguard_C000080852Member ~ </div> Annual Total Returns - Vanguard Short-Term Corporate Bond Index Fund ETF Shares <p>1 The year-to-date return as of the most recent calendar quarter, which ended on September 30, 2012 was 5.18%</p> The year-to-date return as of the most recent calendar quarter, which ended on September 30, 2012 <p>During the periods shown in the bar chart, the highest return for a calendar quarter was 2.82% (quarter ended September 30, 2010 ), and the lowest return for a quarter was -0.55% (quarter ended December 31, 2010 ).</p> (quarter ended September 30, 2010 ) (quarter ended December 31, 2010 ) 2012-09-30 0.0518 2009-11-19 0.0294 0.0396 0.0208 0.0309 0.0192 0.0287 0.0314 0.0420 0 0 0 12. 39. 68. 154. 0.0009 0 0.0003 0.0012 0.0794 0.1065 2009-11-19 0.0556 -0.0169 2010-09-30 2010-12-31 <div style="display:none">~ http://xbrl.sec.gov/rr/role/BarChartData column rr_ProspectusShareClassAxis compact vanguard_C000080855Member ~ </div> Annual Total Returns - Vanguard Intermediate-Term Corporate Bond Index Fund ETF Shares <p>1 The year-to-date return as of the most recent calendar quarter, which ended on September 30, 2012 was 10.00%</p> The year-to-date return as of the most recent calendar quarter, which ended on September 30, 2012 <p>During the periods shown in the bar chart, the highest return for a calendar quarter was 5.56% (quarter ended September 30, 2010 ), and the lowest return for a quarter was -1.69% (quarter ended December 31, 2010 ).</p> (quarter ended September 30, 2010 ) (quarter ended December 31, 2010 ) 2012-09-30 0.1000 2009-11-19 0.0794 0.0868 0.0645 0.0706 0.0515 0.0646 0.0897 0.0918 0 0 0 12. 39. 68. 154. 0.0009 0 0.0003 0.0012 0.1586 0.1119 2009-11-19 0.0917 -0.0276 2011-09-30 2010-12-31 <div style="display:none">~ http://xbrl.sec.gov/rr/role/BarChartData column rr_ProspectusShareClassAxis compact vanguard_C000080858Member ~ </div> Annual Total Returns - Vanguard Long-Term Corporate Bond Index Fund ETF Shares <p>1 The year-to-date return as of the most recent calendar quarter, which ended on September 30, 2012 was 11.32%</p> The year-to-date return as of the most recent calendar quarter, which ended on September 30, 2012 <p>During the periods shown in the bar chart, the highest return for a calendar quarter was 9.17% (quarter ended September 30, 2011 ), and the lowest return for a quarter was -2.76% (quarter ended December 31, 2010 ).</p> (quarter ended September 30, 2011 ) (quarter ended December 31, 2010 ) 2012-09-30 0.1132 2009-11-19 0.1586 0.1242 0.1388 0.1033 0.1020 0.0934 0.1755 0.1329 0 0 0 12. 39. 68. 154. 0.0008 0 0.0004 0.0012 0.0589 0.0524 2009-11-19 0.0273 0.0042 2010-06-30 2010-09-30 <div style="display:none">~ http://xbrl.sec.gov/rr/role/BarChartData column rr_ProspectusShareClassAxis compact vanguard_C000080861Member ~ </div> Annual Total Returns - Vanguard Mortgage-Backed Securities Index Fund ETF Shares <p>1 The year-to-date return as of the most recent calendar quarter, which ended on September 30, 2012 was 2.93%</p> The year-to-date return as of the most recent calendar quarter, which ended on September 30, 2012 <p>During the periods shown in the bar chart, the highest return for a calendar quarter was 2.73% (quarter ended June 30, 2010 ), and the lowest return for a quarter was 0.42% (quarter ended September 30, 2010 ).</p> (quarter ended June 30, 2010 ) (quarter ended September 30, 2010 ) 2012-09-30 0.0293 2009-11-19 0.0589 0.0497 0.0490 0.0381 0.0382 0.0356 0.0592 0.0500 0 0 0 12. 39. 68. 154. 0.0005 0 0.0007 0.0012 0.0138 2010-09-20 0.1179 -0.1469 2011-12-31 2011-09-30 <div style="display:none">~ http://xbrl.sec.gov/rr/role/BarChartData column rr_ProspectusShareClassAxis compact vanguard_C000092010Member ~ </div> Annual Total Returns - Vanguard Russell 1000 Index Fund ETF Shares <p>1 The year-to-date return as of the most recent calendar quarter, which ended on September 30, 2012 was 16.20%</p> The year-to-date return as of the most recent calendar quarter, which ended on September 30, 2012 <p>During the periods shown in the bar chart, the highest return for a calendar quarter was 11.79% (quarter ended December 31, 2011 ), and the lowest return for a quarter was -14.69% (quarter ended September 30, 2011 ).</p> (quarter ended December 31, 2011 ) (quarter ended September 30, 2011 ) 2012-09-30 0.1620 2010-09-20 0.0138 0.0985 0.0112 0.0960 0.0122 0.0838 0.0135 0.0984 0 0 0 12. 39. 68. 154. 0.0007 0 0.0005 0.0012 0.0023 2010-09-20 0.1307 -0.1625 2011-12-31 2011-09-30 <div style="display:none">~ http://xbrl.sec.gov/rr/role/BarChartData column rr_ProspectusShareClassAxis compact vanguard_C000092012Member ~ </div> Annual Total Returns - Vanguard Russell 1000 Value Index Fund ETF Shares <p>1 The year-to-date return as of the most recent calendar quarter, which ended on September 30, 2012 was 15.63%</p> The year-to-date return as of the most recent calendar quarter, which ended on September 30, 2012 <p>During the periods shown in the bar chart, the highest return for a calendar quarter was 13.07% (quarter ended December 31, 2011 ), and the lowest return for a quarter was -16.25% (quarter ended September 30, 2011 ).</p> (quarter ended December 31, 2011 ) (quarter ended September 30, 2011 ) 2012-09-30 0.1563 2010-09-20 0.0023 0.0776 -0.0008 0.0748 0.0056 0.0660 0.0015 0.0773 0 0 0 15. 48. 85. 192. 0.0010 0 0.0005 0.0015 0.0240 2010-09-20 0.1056 -0.1323 2011-12-31 2011-09-30 <div style="display:none">~ http://xbrl.sec.gov/rr/role/BarChartData column rr_ProspectusShareClassAxis compact vanguard_C000092014Member ~ </div> Annual Total Returns - Vanguard Russell 1000 Growth Index Fund ETF Shares <p>1 The year-to-date return as of the most recent calendar quarter, which ended on September 30, 2012 was 16.67%</p> The year-to-date return as of the most recent calendar quarter, which ended on September 30, 2012 <p>During the periods shown in the bar chart, the highest return for a calendar quarter was 10.56% (quarter ended December 31, 2011 ), and the lowest return for a quarter was -13.23% (quarter ended September 30, 2011 ).</p> (quarter ended December 31, 2011 ) (quarter ended September 30, 2011 ) 2012-09-30 0.1667 2010-09-20 0.0240 0.1183 0.0221 0.1164 0.0182 0.1007 0.0231 0.1179 0 0 0 15. 48. 85. 192. 0.0010 0 0.0005 0.0015 -0.0426 2010-09-20 0.1542 -0.2186 2011-12-31 2011-09-30 <div style="display:none">~ http://xbrl.sec.gov/rr/role/BarChartData column rr_ProspectusShareClassAxis compact vanguard_C000092016Member ~ </div> Annual Total Returns - Vanguard Russell 2000 Index Fund ETF Shares <p>1 The year-to-date return as of the most recent calendar quarter, which ended on September 30, 2012 was 14.17%</p> The year-to-date return as of the most recent calendar quarter, which ended on September 30, 2012 <p>During the periods shown in the bar chart, the highest return for a calendar quarter was 15.42% (quarter ended December 31, 2011 ), and the lowest return for a quarter was -21.86% (quarter ended September 30, 2011 ).</p> (quarter ended December 31, 2011 ) (quarter ended September 30, 2011 ) 2012-09-30 0.1417 2010-09-20 -0.0426 0.0954 -0.0445 0.0929 -0.0266 0.0804 -0.0438 0.0948 0 0 0 22. 68. 118. 268. 0.0008 0 0.0007 0.0006 Acquired Fund Fees and Expenses are not included in the Fund's financial statements, which provide a clearer picture of a fund's actual operating costs. 0.0021 -0.0562 2010-09-20 0.1587 -0.2142 2011-12-31 2011-09-30 <div style="display:none">~ http://xbrl.sec.gov/rr/role/BarChartData column rr_ProspectusShareClassAxis compact vanguard_C000092017Member ~ </div> Annual Total Returns - Vanguard Russell 2000 Value Index Fund ETF Shares <p>1 The year-to-date return as of the most recent calendar quarter, which ended on September 30, 2012 was 14.18%</p> The year-to-date return as of the most recent calendar quarter, which ended on September 30, 2012 <p>During the periods shown in the bar chart, the highest return for a calendar quarter was 15.87% (quarter ended December 31, 2011 ), and the lowest return for a quarter was -21.42% (quarter ended September 30, 2011 ).</p> (quarter ended December 31, 2011 ) (quarter ended September 30, 2011 ) <div style="display:none">~ http://xbrl.sec.gov/rr/role/BarChartData column rr_ProspectusShareClassAxis compact vanguard_C000092017Member ~ </div> Annual Total Returns - Vanguard Russell 2000 Value Index Fund ETF Shares <p>During the periods shown in the bar chart, the highest return for a calendar quarter was 15.87% (quarter ended December 31, 2011 ), and the lowest return for a quarter was -21.42% (quarter ended September 30, 2011 ).</p> (quarter ended December 31, 2011 ) (quarter ended September 30, 2011 ) 2010-09-20 -0.0562 0.0725 -0.0590 0.0687 -0.0351 0.0604 -0.0511 0.0775 0 0 0 33. 103. 180. 406. 0.0003 0 0.0017 0.0012 Acquired Fund Fees and Expenses are not included in the Fund's financial statements, which provide a clearer picture of a fund's actual operating costs. 0.0032 -0.0311 2010-09-20 0.1492 -0.2229 2011-12-31 2011-09-30 <div style="display:none">~ http://xbrl.sec.gov/rr/role/BarChartData column rr_ProspectusShareClassAxis compact vanguard_C000092020Member ~ </div> Annual Total Returns - Vanguard Russell 2000 Growth Index Fund ETF Shares <p>1 The year-to-date return as of the most recent calendar quarter, which ended on September 30, 2012 was 14.00%</p> The year-to-date return as of the most recent calendar quarter, which ended on September 30, 2012 <p>During the periods shown in the bar chart, the highest return for a calendar quarter was 14.92% (quarter ended December 31, 2011 ), and the lowest return for a quarter was -22.29% (quarter ended September 30, 2011 ).</p> (quarter ended December 31, 2011 ) (quarter ended September 30, 2011 ) <div style="display:none">~ http://xbrl.sec.gov/rr/role/BarChartData column rr_ProspectusShareClassAxis compact vanguard_C000092020Member ~ </div> Annual Total Returns - Vanguard Russell 2000 Growth Index Fund ETF Shares <p>During the periods shown in the bar chart, the highest return for a calendar quarter was 14.92% (quarter ended December 31, 2011 ), and the lowest return 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