Vanguard Funds

 

Supplement Dated December 20, 2023, to the Statement of Additional Information

Important Changes to Vanguard Funds’ Board of Trustees

The board of trustees of the Vanguard funds (the “boards”) have elected Lubos Pastor as a trustee of the board, effective January 1, 2024.

© 2023 The Vanguard Group, Inc. All rights reserved.

Vanguard Marketing Corporation, Distributor.

SAI ALL2 122023