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          <principalTransaction>
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                <creditUser fundName="Vanguard Mid-Cap Growth Fund" secFileNo="811-07443"/>
                <creditUser fundName="Vanguard Global Equity Fund" secFileNo="811-07239"/>
                <creditUser fundName="Vanguard Institutional Target Retirement 2020 Fund" secFileNo="811-04098"/>
                <creditUser fundName="Vanguard U.S. Multifactor ETF" secFileNo="811-00121"/>
                <creditUser fundName="Vanguard ESG International Stock ETF" secFileNo="811-01027"/>
                <creditUser fundName="Vanguard U.S. Momentum Factor ETF" secFileNo="811-00121"/>
                <creditUser fundName="Vanguard U.S. Liquidity Factor ETF" secFileNo="811-00121"/>
                <creditUser fundName="Vanguard U.S. Minimum Volatility ETF" secFileNo="811-00121"/>
                <creditUser fundName="Vanguard Total Corporate Bond ETF" secFileNo="811-07803"/>
                <creditUser fundName="Vanguard ESG U.S. Stock ETF" secFileNo="811-01027"/>
                <creditUser fundName="Vanguard Global Credit Bond Fund" secFileNo="811-22619"/>
                <creditUser fundName="Vanguard Total World Bond ETF" secFileNo="811-07803"/>
                <creditUser fundName="Vanguard U.S. Quality Factor ETF" secFileNo="811-00121"/>
                <creditUser fundName="Vanguard U.S. Value Factor ETF" secFileNo="811-00121"/>
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              <isCreditLineUsed>N</isCreditLineUsed>
            </lineOfCreditDetail>
          </lineOfCreditDetails>
        </lineOfCredit>
        <isInterfundLending>N</isInterfundLending>
        <isInterfundBorrowing>N</isInterfundBorrowing>
        <isSwingPricing>N</isSwingPricing>
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      <managementInvestmentQuestion>
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        <mgmtInvSeriesId>S000030003</mgmtInvSeriesId>
        <mgmtInvLei>XEI53B997NKJZOPQID97</mgmtInvLei>
        <isFirstFilingByFund>N</isFirstFilingByFund>
        <numAuthorizedClass>2</numAuthorizedClass>
        <numAddedClass>0</numAddedClass>
        <numTerminatedClass>0</numTerminatedClass>
        <sharesOutstandings>
          <sharesOutstanding sharesOutstandingClassName="Institutional Shares" sharesOutstandingClassId="C000092015" sharesOutstandingTickerSymbol="VRTIX"/>
          <sharesOutstanding sharesOutstandingClassName="ETF Shares" sharesOutstandingClassId="C000092016" sharesOutstandingTickerSymbol="VTWO"/>
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        <fundTypes>
          <fundType>Exchange-Traded Fund</fundType>
          <indexFundInfo fundType="Index Fund">
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            <isIndexFundExclusive>N</isIndexFundExclusive>
            <indexFundReturnDiffBeforeExpense>0.13644000</indexFundReturnDiffBeforeExpense>
            <indexFundReturnDiffAfterExpense>0.06667000</indexFundReturnDiffAfterExpense>
            <indexFundReturnDailyStdevBeforeExpense>0.05259131</indexFundReturnDailyStdevBeforeExpense>
            <indexFundReturnDailyStdevAfterExpense>0.05277310</indexFundReturnDailyStdevAfterExpense>
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        <isForeignSubsidiary>N</isForeignSubsidiary>
        <isFundSecuritiesLending>Y</isFundSecuritiesLending>
        <fundLendSecurities didFundLendSecurities="Y">
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          <isFundAdverselyImpacted>N</isFundAdverselyImpacted>
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        <securityLendings>
          <securityLending>
            <securitiesAgentName>The Vanguard Group, Inc.</securitiesAgentName>
            <securitiesAgentLei>5493002789CX3L0CJP65</securitiesAgentLei>
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        <paymentToAgentManagers>
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        <relyOnRuleTypes>
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          <relyOnRuleType>Rule 17a-7 (17 CFR 270.17a-7)</relyOnRuleType>
          <relyOnRuleType>Rule 12d1-1 (17 CFR 270.12d1-1)</relyOnRuleType>
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        <isExpenseWaivedRecoupable>N</isExpenseWaivedRecoupable>
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            <pricingServiceName>Markit Group Limited</pricingServiceName>
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            <custodianName>ESES FRANCE BEARER</custodianName>
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            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
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</edgarSubmission>
