UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM N-CSR

CERTIFIED SHAREHOLDER REPORT
OF
REGISTERED MANAGEMENT INVESTMENT COMPANIES

Investment Company Act file number:      811-2652
Name of Registrant:     Vanguard Index Funds
Address of Registrant:	P.O. Box 2600
	Valley Forge, PA 19482
Name and address of agent for service:	Heidi Stam, Esquire
	P.O. Box 876
	Valley Forge, PA 19482
Registrant’s telephone number, including area code: (610) 669-1000
Date of fiscal year end: December 31
Date of reporting period: January 1, 2009 – December 31, 2009
Item 1: Reports to Shareholders

Vanguard 500 Index Fund 

Annual Report 

December 31, 2009 

> After a dismal start to the year, stocks began a steady rise in March to finish

2009 with strong returns.

> For the fiscal year ended December 31, 2009, Vanguard 500 Index Fund returned

about 26% and closely tracked its benchmark index.

> Led by information technology stocks, all ten industry sectors posted gains.

Contents
Your Fund’s Total Returns.	1
Chairman’s Letter.	2
Results of Proxy Voting.	8
Fund Profile.	10
Performance Summary.	11
Financial Statements.	13
Your Fund’s After-Tax Returns.	30
About Your Fund’s Expenses.	31
Glossary.	33

Please note: The opinions expressed in this report are just that—informed opinions. They should not be considered promises or advice.
Also, please keep in mind that the information and opinions cover the period through the date on the front of this report. Of course, the
risks of investing in your fund are spelled out in the prospectus.
See the Glossary for definitions of investment terms used in this report.

Cover photograph: Veronica Coia.

Your Fund’s Total Returns

Fiscal Year Ended December 31, 2009
	Total
	Returns
Vanguard 500 Index Fund
Investor Shares	26.49%
Admiral™ Shares	26.62
Signal® Shares	26.61
S&P 500 Index	26.46
Large-Cap Core Funds Average	27.46

Large-Cap Core Funds Average: Derived from data provided by Lipper Inc.

Admiral Shares are a lower-cost class of shares available to many longtime shareholders and to those with significant investments in the fund. Signal Shares also carry lower costs and are available to certain institutional shareholders who meet specific administrative, service, and account-size criteria.

Your Fund’s Performance at a Glance

December 31, 2008 , Through December 31, 2009

			Distributions Per Share
	Starting	Ending	Income	Capital
	Share Price	Share Price	Dividends	Gains
Vanguard 500 Index Fund
Investor Shares	$83.09	$102.67	$2.104	$0.000
Admiral Shares	83.09	102.67	2.203	0.000
Signal Shares	68.64	84.81	1.820	0.000

1

Chairman’s Letter

Dear Shareholder,

Vanguard 500 Index Fund returned about 26% for 2009 as many U.S. stocks rebounded off their March lows and advanced throughout the rest of the year. The fund met its objective of closely tracking its unmanaged benchmark. It slightly trailed the average return of its large-capitalization peers.

Despite its strong advance, the fund made no capital gains distributions, a benefit to shareholders in taxable accounts. You may wish to review the fund’s after-tax returns later in this report.

Impressive stock returns masked lingering uncertainties

For the 12 months ended December 31, 2009, the broad U.S. stock market returned more than 29%, its highest calendar-year return since 2003. The year began with the market searching for a bottom, and it finally hit a low point in early March. From there, stocks mounted one of their strongest rallies ever—in magnitude and duration—resulting in a check mark-shaped stock chart for 2009.

The market’s outsized result came against a backdrop of economic uncertainty. The economy, which struggled to regain its footing as the financial crisis abated, began to show signs of growth in the second half of the year, even as unemployment climbed to levels not seen since 1983.

2

Stock markets outside the United States fared even better during 2009, especially many emerging markets, which weathered the financial crisis in relatively better fiscal and economic shape than their developed-market counterparts.

Bond markets calmed down, money market funds endured

Compared with the last months of 2008, when credit markets seized up and investors fled to the safety of U.S. Treasuries, 2009 represented a return to normalcy for bonds. Investors’ appetite for risk returned, and the demand for corporate bonds increased, raising their prices and bringing down their yields. For the 12 months ended December 31, the

broad taxable bond market returned about 6%, while municipal bonds returned about 13%.

Meanwhile, money market funds and other short-term savings vehicles did poorly in 2009. Interest rates at the shortest end of the maturity spectrum remained at historic lows, a casualty of the Federal Reserve Board’s efforts to revive the economy. The Fed kept its target for the federal funds rate between 0% and 0.25% for the entire year.

Broad-based recovery lifted fund’s returns

For the Vanguard 500 Index Fund and the broader U.S. stock market, 2009 featured a momentous turnaround. Widespread

Market Barometer
		Average Annual Total Returns
		Periods Ended December 31, 2009
	One	Three	Five
	Year	Years	Years
Stocks
Russell 1000 Index (Large-caps)	28.43%	-5.36%	0.79%
Russell 2000 Index (Small-caps)	27.17	-6.07	0.51
Dow Jones U.S. Total Stock Market Index	29.35	-5.01	1.09
MSCI All Country World Index ex USA (International)	42.14	-3.04	6.30
Bonds
Barclays Capital U.S. Aggregate Bond Index (Broad
taxable market)	5.93%	6.04%	4.97%
Barclays Capital Municipal Bond Index	12.91	4.41	4.32
Citigroup Three-Month U.S. Treasury Bill Index	0.16	2.22	2.88
CPI
Consumer Price Index	2.72%	2.28%	2.56%

3

pessimism stemming from the global financial crisis was followed by a historic rebound as government stimulus programs took hold and signs of recovery appeared on the distant horizon of the deepest economic downturn in a generation.

From the year’s start through early March, the benchmark Standard & Poor’s 500 Index declined nearly 25% before reversing course and gaining almost 68% through the rest of the year. The recovery was broad-based as all ten sectors posted gains for the year—in striking contrast to 2008, when all sectors recorded losses.

Information technology, the largest sector in the index and in the fund, returned more than 60% and contributed nearly 11 percentage points to the fund’s return. Having slashed their budgets during the financial crisis, many corporations resumed spending on communications equipment, computer hardware, and computer software. Consumers, too, gradually opened their wallets, and sales of home computers and electronic components helped lift the sector.

Although the downturn spurred an increase in the nationwide savings rate, certain consumer discretionary companies were well-positioned to benefit from cost-

Expense Ratios
Your Fund Compared With Its Peer Group
	Investor	Admiral	Signal	Peer Group
	Shares	Shares	Shares	Average
500 Index Fund	0.18%	0.09%	0.09%	1.26%

The fund expense ratios shown are from the prospectuses dated April 29, 2009, and represent estimated costs for the current fiscal year based on the fund’s net assets as of the prospectus date. For the fiscal year ended December 31, 2009, the fund’s expense ratios were 0.18% for Investor Shares, 0.07% for Admiral Shares, and 0.07% for Signal Shares. The peer-group expense ratio is derived from data provided by Lipper Inc. and captures information through year-end 2008.

Peer group: Large-Cap Core Funds.

4

conscious customers. Internet retailers, media companies, home improvement retailers, and recreation-oriented companies were among the firms that bounced back and drove the sector’s return of nearly 42%.

Financial stocks, the index’s poorest-performing sector in 2008, were also instrumental in the recovery, with a gain of about 17%. Giant banks passed the Treasury Department’s stress tests and began to regain investors’ confidence. Companies in the broader sector, including investment firms, consumer-finance firms, and insurance companies, took advantage of record-low interest rates to improve

their balance sheets. Health care and industrials each returned about 20%. While the materials sector is one of the index’s smallest, its nearly 50% return provided a spark.

Fund has kept ahead of actively managed peers

Over the past ten years, Vanguard 500 Index Fund’s Investor Shares recorded an average annual return of –1.03%, more than 1 percentage point better than the average result for its large-cap core peers (most of which are actively managed). The fund also closely tracked the return of its unmanaged benchmark, which has no costs or operating expenses. Vanguard

Total Returns
Ten Years Ended December 31, 2009
	Average
	Annual Return
500 Index Fund Investor Shares	-1.03%
S&P 500 Index	-0.95
Large-Cap Core Funds Average	-2.21
Large-Cap Core Funds Average: Derived from data provided by Lipper Inc.

The figures shown represent past performance, which is not a guarantee of future results. (Current performance may be lower or higher than the performance data cited. For performance data current to the most recent month-end, visit our website at www.vanguard.com/performance.) Note, too, that both investment returns and principal value can fluctuate widely, so an investor’s shares, when sold, could be worth more or less than their original cost.

5

Quantitative Equity Group, which has more than 30 years of index-tracking experience, has developed sophisticated portfolio construction and trading methodologies to help Vanguard deliver sound index-fund management in a variety of different marketplaces and market environments. The group’s efforts are made easier, of course, by the funds’ low operating expenses.

While equity returns for the decade were undoubtedly disappointing, it’s worthwhile to consider the investing environment, which included the bursting of the technology stock bubble and three straight years of negative returns from 2000 through 2002, as well as the global financial crisis of 2008–2009. Looking beyond the past decade, the fund’s 10.49% average annual return since its inception in 1976 is more consistent with the financial market’s results over the past 100 years.

We believe the reasons for long-term equity investing remain sound. History indicates that both the U.S. economy and stock market have been resilient over the years and have overcome many crises, including the Great Depression and two World Wars. The inherent risk in equity investments is, paradoxically, both why they sometimes generate poor returns, and why we expect them to outperform less risky assets over time.

Staying the course counts in diverse market conditions

The unpredictability that underlies the stock market was abundantly clear in 2009. After returning about –37% for 2008, the worst calendar-year performance since 1931, the broad U.S. stock market continued its sharp decline during the first two months of 2009. In March, even as credit markets hit another rough patch and economic reports signaled the deepening of the recession, the stock market began a recovery that lasted through year-end. Investors who sat on the sidelines did not participate in the market’s remarkable recovery.

Of course, nobody knows what 2010 will bring. While we can’t control the markets or the economy, we can control how we react to the inevitable volatility and incessant “noise” that accompanies it. At Vanguard, we always advocate a balanced investment approach that includes stock, bond, and money market funds in proportion to your goals and unique financial circumstances. The 500 Index Fund can serve you well as a low-cost, long-term holding and as the core of an investment portfolio that may also include actively managed funds and other asset classes.

6

On another matter, I would like to inform you that on January 1, 2010, we completed a leadership transition that began in March 2008. I succeeded Jack Brennan as chairman of Vanguard and each of the funds. Jack has agreed to serve as chairman emeritus and senior advisor.

Under Jack’s leadership, Vanguard has grown to become a preeminent firm in the mutual fund industry. Jack’s energy, his relentless pursuit of perfection, and his unwavering focus on always doing the right thing for our clients are evident in every facet of Vanguard policy today.

Thank you for entrusting your assets to Vanguard.

Sincerely,

F. William McNabb III
Chairman and Chief Executive Officer
January 13, 2010

7

Results of Proxy Voting

At a special meeting of shareholders on July 2, 2009, fund shareholders approved the following two proposals:

Proposal 1—Elect trustees for each fund.*

The individuals listed in the table below were elected as trustees for each fund. All trustees with the exception of Messrs. McNabb and Volanakis (both of whom already served as directors of The Vanguard Group, Inc.) served as trustees to the funds prior to the shareholder meeting.

			Percentage
Trustee	For	Withheld	For
John J. Brennan	5,783,728,017	132,330,913	97.7%
Charles D. Ellis	5,728,724,219	187,334,711	96.8%
Emerson U. Fullwood	5,780,086,736	135,972,194	97.7%
Rajiv L. Gupta	5,775,585,512	140,473,418	97.6%
Amy Gutmann	5,783,328,789	132,730,141	97.7%
JoAnn Heffernan Heisen	5,774,973,685	141,085,245	97.6%
F. William McNabb III	5,787,447,014	128,611,916	97.8%
André F. Perold	5,773,103,389	142,955,541	97.5%
Alfred M. Rankin, Jr.	5,776,127,477	139,931,453	97.6%
Peter F. Volanakis	5,791,986,958	124,071,972	97.9%
* Results are for all funds within the same trust.
Proposal 2—Update and standardize the funds’ fundamental policies regarding:
(a) Purchasing and selling real estate.
(b) Issuing senior securities.
(c) Borrowing money.
(d) Making loans.
(e) Purchasing and selling commodities.
(f) Concentrating investments in a particular industry or group of industries.
(g) Eliminating outdated fundamental investment policies not required by law.

The revised fundamental policies are clearly stated and simple, yet comprehensive, making oversight and compliance more efficient than under the former policies. The revised fundamental policies will allow the funds to respond more quickly to regulatory and market changes, while avoiding the costs and delays associated with successive shareholder meetings.

				Broker	Percentage
Vanguard Fund	For	Abstain	Against	Non-Votes	For
500 Index Fund
2a	535,068,695	14,287,233	23,630,436	52,959,217	85.5%
2b	532,900,301	15,923,319	24,162,735	52,959,227	85.1%
2c	523,275,838	15,181,436	34,529,083	52,959,224	83.6%
2d	529,013,205	15,491,617	28,481,538	52,959,221	84.5%
2e	527,710,151	14,966,646	30,309,562	52,959,222	84.3%
2f	531,513,462	15,168,943	26,303,961	52,959,215	84.9%
2g	537,565,674	15,041,719	20,378,969	52,959,219	85.9%

8

Fund shareholders did not approve this proposal:

Proposal 3—Institute procedures to prevent holding investments in companies that, in the judgment of the board, substantially contribute to genocide or crimes against humanity, the most egregious violations of human rights.

The trustees recommended a vote against the proposal because it called for procedures that duplicate existing practices and procedures of the Vanguard funds.

				Broker	Percentage
Vanguard Fund	For	Abstain	Against	Non-Votes	For
500 Index Fund	59,535,907	27,083,733	486,162,146	53,163,794	9.5%

9

500 Index Fund

Fund Profile
As of December 31, 2009

Share-Class Characteristics
	Investor	Admiral	Signal
	Shares	Shares	Shares
Ticker Symbol	VFINX	VFIAX	VIFSX
Expense Ratio1	0.18%	0.09%	0.09%
30-Day SEC Yield	1.72%	1.84%	1.84%

Portfolio Characteristics
			DJ
			U.S. Total
		S&P 500	Market
	Fund	Index	Index
Number of Stocks	503	500	4,201
Median Market Cap	$42.7B	$42.7B	$30.7B
Price/Earnings Ratio	30.3x	30.3x	35.7x
Price/Book Ratio	2.2x	2.2x	2.1x
Return on Equity	20.8%	20.8%	19.3%
Earnings Growth Rate	8.2%	8.2%	8.1%
Dividend Yield	1.9%	1.9%	1.8%
Foreign Holdings	0.0%	0.0%	0.0%
Turnover Rate	12%	—	—
Short-Term Reserves	0.1%	—	—

Sector Diversification (% of equity exposure)
			DJ
			U.S. Total
		S&P 500	Market
	Fund	Index	Index
Consumer
Discretionary	9.6%	9.6%	10.3%
Consumer Staples	11.4	11.4	9.9
Energy	11.5	11.5	10.6
Financials	14.4	14.4	16.0
Health Care	12.6	12.6	12.6
Industrials	10.2	10.2	10.6
Information
Technology	19.8	19.8	19.3
Materials	3.6	3.6	4.0
Telecommunication
Services	3.2	3.2	2.9
Utilities	3.7	3.7	3.8

Volatility Measures
		DJ
		U.S. Total
	S&P 500	Market
	Index	Index
R-Squared	1.00	0.99
Beta	1.00	0.97

These measures show the degree and timing of the fund’s fluctuations compared with the indexes over 36 months.

Ten Largest Holdings (% of total net assets)
Exxon Mobil Corp.	Integrated Oil &
	Gas	3.3%
Microsoft Corp.	Systems Software	2.4
Apple Inc.	Computer
	Hardware	1.9
Johnson & Johnson	Pharmaceuticals	1.8
Procter & Gamble Co.	Household
	Products	1.8
International Business	Computer
Machines Corp.	Hardware	1.7
AT&T Inc.	Integrated
	Telecommunication
	Services	1.7
JPMorgan Chase & Co.	Diversified Financial
	Services	1.7
General Electric Co.	Industrial
	Conglomerates	1.6
Chevron Corp.	Integrated Oil &
	Gas	1.6
Top Ten		19.5%

The holdings listed exclude any temporary cash investments and equity index products.

Investment Focus

1 The expense ratios shown are from the prospectuses dated April 29, 2009, and represent estimated costs for the current fiscal year based
on the fund’s net assets as of the prospectus date. For the fiscal year ended December 31, 2009, the fund’s expense ratios were 0.18% for
Investor Shares, 0.07% for Admiral Shares, and 0.07% for Signal Shares.

10

500 Index Fund

Performance Summary

All of the returns in this report represent past performance, which is not a guarantee of future results that may be achieved by the fund. (Current performance may be lower or higher than the performance data cited. For performance data current to the most recent month-end, visit our website at www.vanguard.com/performance.) Note, too, that both investment returns and principal value can fluctuate widely, so an investor’s shares, when sold, could be worth more or less than their original cost. The returns shown do not reflect taxes that a shareholder would pay on fund distributions or on the sale of fund shares.

Cumulative Performance: December 31, 1999, Through December 31, 2009

Initial Investment of $10,000

		Average Annual Total Returns
		Periods Ended December 31, 2009
					Final Value
		One	Five	Ten	of a $10,000
		Year	Years	Years	Investment
	500 Index Fund Investor Shares	26.49%	0.34%	-1.03%	$9,016
••••••••	Dow Jones U.S. Total Stock Market
	Index	29.35	1.09	-0.17	9,828
– – – –	Large-Cap S&P 500 Index Core Funds Average	27.46 26.46	-0.15 0.42	-2.21 -0.95	8,001 9,090

Large-Cap Core Funds Average: Derived from data provided by Lipper Inc.

			Since	Final Value
	One	Five	Inception	of a $100,000
	Year	Years	(11/13/2000)	Investment
500 Index Fund Admiral Shares	26.62%	0.43%	-0.25%	$97,752
Dow Jones U.S. Total Stock Market
Index	29.35	1.09	0.79	107,434
S&P 500 Index	26.46	0.42	-0.24	97,869

Performance for the fund’s Admiral Shares and comparative standards is calculated since the Admiral Shares’ inception.

Vanguard fund total returns do not include any transaction or account fees that applied in the periods shown. Fund prospectuses provide
information about current fees.
See Financial Highlights for dividend and capital gains information.

11

500 Index Fund

		Since	Final Value
	One	Inception	of a $1,000,000
	Year	(9/29/2006)	Investment
500 Index Fund Signal Shares	26.61%	-3.25%	$897,974
Dow Jones U.S. Total Stock Market
Index	29.35	-2.54	919,731
S&P 500 Index	26.46	-3.29	896,827
Performance for the fund’s Signal Shares and comparative standards is calculated since the Signal Shares’ inception.

Fiscal-Year Total Returns (%): December 31, 1999, Through December 31, 2009

Vanguard fund total returns do not include any transaction or account fees that applied in the periods shown. Fund prospectuses provide
information about current fees.

12

500 Index Fund

Financial Statements

Statement of Net Assets
As of December 31, 2009

The fund reports a complete list of its holdings in regulatory filings four times in each fiscal year, at the quarter-ends. For the second and fourth fiscal quarters, the lists appear in the fund’s semiannual and annual reports to shareholders. For the first and third fiscal quarters, the fund files the lists with the Securities and Exchange Commission on Form N-Q. Shareholders can look up the fund’s Forms N-Q on the SEC’s website at www.sec.gov. Forms N-Q may also be reviewed and copied at the SEC’s Public Reference Room (see the back cover of this report for further information).

			Market
			Value•
		Shares	($000)
Common Stocks (100.0%)
Consumer Discretionary (9.6%)
	McDonald’s Corp.	10,139,235	633,094
	Walt Disney Co.	18,055,915	582,303
	Home Depot Inc.	15,975,802	462,180
	Comcast Corp. Class A	25,515,769	430,196
*	Amazon.com Inc.	3,132,263	421,352
	Target Corp.	7,068,130	341,885
	Lowe’s Cos. Inc.	13,829,990	323,484
	Time Warner Inc.	10,969,602	319,654
*	Ford Motor Co.	31,070,836	310,708
*	DIRECTV Class A	8,989,792	299,810
	News Corp. Class A	21,169,282	289,808
	NIKE Inc. Class B	3,660,321	241,837
	Johnson Controls Inc.	6,304,752	171,741
*	Viacom Inc. Class B	5,702,729	169,542
	Staples Inc.	6,800,975	167,236
*	Starbucks Corp.	6,979,486	160,947
*	Kohl’s Corp.	2,880,443	155,342
	Yum! Brands Inc.	4,393,954	153,657
	TJX Cos. Inc.	3,943,017	144,117
	Time Warner Cable Inc.	3,310,974	137,041
*	Carnival Corp.	4,105,416	130,101
	Best Buy Co. Inc.	3,208,808	126,620
	Omnicom Group Inc.	2,923,962	114,473
	Coach Inc.	2,996,222	109,452
	McGraw-Hill Cos. Inc.	2,958,286	99,132
*	Bed Bath & Beyond Inc.	2,467,780	95,330
	Gap Inc.	4,472,676	93,703
*	priceline.com Inc.	412,897	90,218
	CBS Corp. Class B	6,361,668	89,381
*	Apollo Group Inc. Class A	1,207,250	73,135
	H&R Block Inc.	3,151,519	71,287
	Mattel Inc.	3,397,530	67,883
	Macy’s Inc.	3,957,133	66,322
	Marriott International Inc.
	Class A	2,384,108	64,967
	Starwood Hotels &
	Resorts Worldwide Inc.	1,757,670	64,278
	VF Corp.	834,471	61,117

	Fortune Brands Inc.	1,412,250	61,009
	JC Penney Co. Inc.	2,216,852	58,990
	Nordstrom Inc.	1,552,698	58,350
	Genuine Parts Co.	1,499,530	56,922
	Whirlpool Corp.	697,664	56,274
	Harley-Davidson Inc.	2,202,311	55,498
	Sherwin-Williams Co.	894,307	55,134
	International Game
	Technology	2,789,878	52,366
*	Expedia Inc.	1,980,103	50,908
	Tiffany & Co.	1,169,027	50,268
	Ross Stores Inc.	1,175,050	50,186
*	O’Reilly Automotive Inc.	1,288,644	49,123
	Ltd Brands Inc.	2,512,728	48,345
	Darden Restaurants Inc.	1,311,462	45,993
*	AutoZone Inc.	280,992	44,416
	Polo Ralph Lauren Corp.
	Class A	539,582	43,695
	Newell Rubbermaid Inc.	2,608,477	39,153
*,^	Sears Holdings Corp.	456,473	38,093
	Wynn Resorts Ltd.	647,568	37,708
	Hasbro Inc.	1,170,092	37,513
	Black & Decker Corp.	565,711	36,675
	Family Dollar Stores Inc.	1,303,649	36,281
	Scripps Networks
	Interactive Inc. Class A	841,165	34,908
*	GameStop Corp. Class A	1,546,735	33,935
	Wyndham Worldwide Corp.	1,677,718	33,840
*	Interpublic Group of
	Cos. Inc.	4,572,370	33,744
	Gannett Co. Inc.	2,221,996	32,997
	DeVry Inc.	581,171	32,970
*	Goodyear Tire
	& Rubber Co.	2,277,596	32,114
	Pulte Homes Inc.	2,969,508	29,695
	Leggett & Platt Inc.	1,430,713	29,187
	Abercrombie & Fitch Co.	827,514	28,839
	DR Horton Inc.	2,599,510	28,257
	Washington Post Co.
	Class B	58,346	25,649

13

500 Index Fund

			Market
			Value•
		Shares	($000)
	Harman International
	Industries Inc.	652,394	23,017
	RadioShack Corp.	1,177,475	22,961
*	Big Lots Inc.	777,123	22,521
	Comcast Corp.	1,304,720	20,889
	Lennar Corp. Class A	1,517,474	19,378
*	Office Depot Inc.	2,583,961	16,667
*	AutoNation Inc.	869,702	16,655
*	New York Times Co.
	Class A	1,087,559	13,442
*	Eastman Kodak Co.	2,522,521	10,645
	Meredith Corp.	344,663	10,633
			8,949,176
Consumer Staples (11.4%)
	Procter & Gamble Co.	27,450,865	1,664,346
	Coca-Cola Co.	21,770,800	1,240,936
	Wal-Mart Stores Inc.	20,046,834	1,071,503
	PepsiCo Inc.	14,660,913	891,383
	Philip Morris
	International Inc.	17,895,202	862,370
	CVS Caremark Corp.	13,252,351	426,858
	Colgate-Palmolive Co.	4,671,151	383,735
	Altria Group Inc.	19,468,931	382,175
	Kraft Foods Inc.	13,878,213	377,210
	Walgreen Co.	9,290,223	341,137
	Kimberly-Clark Corp.	3,902,534	248,630
	Costco Wholesale Corp.	4,096,071	242,365
	General Mills Inc.	3,068,269	217,264
	Archer-Daniels-Midland Co.	6,034,829	188,950
	Sysco Corp.	5,560,183	155,352
	Kellogg Co.	2,388,191	127,052
	HJ Heinz Co.	2,965,380	126,800
	Avon Products Inc.	4,012,082	126,381
	Kroger Co.	6,114,269	125,526
	Lorillard Inc.	1,509,080	121,073
	ConAgra Foods Inc.	4,161,070	95,913
	Reynolds American Inc.	1,588,406	84,138
	Mead Johnson
	Nutrition Co. Class A	1,922,096	83,996
	Safeway Inc.	3,819,874	81,325
	Clorox Co.	1,314,077	80,159
	Sara Lee Corp.	6,554,158	79,830
	JM Smucker Co.	1,118,718	69,081
	Dr Pepper Snapple
	Group Inc.	2,387,982	67,580
	Molson Coors
	Brewing Co. Class B	1,478,154	66,753
	Coca-Cola Enterprises Inc.	2,986,977	63,324
	Campbell Soup Co.	1,785,274	60,342
	Hershey Co.	1,562,852	55,934
	Brown-Forman Corp.
	Class B	1,032,029	55,286
	Estee Lauder Cos. Inc.
	Class A	1,108,849	53,624
	Pepsi Bottling Group Inc.	1,353,150	50,743

	McCormick & Co. Inc.	1,229,821	44,433
*	Whole Foods Market Inc.	1,321,021	36,262
	Tyson Foods Inc. Class A	2,865,769	35,163
*	Dean Foods Co.	1,697,684	30,626
*	Constellation Brands Inc.
	Class A	1,875,724	29,880
	SUPERVALU Inc.	1,994,021	25,344
	Hormel Foods Corp.	656,345	25,236
			10,596,018
Energy (11.5%)
	Exxon Mobil Corp.	44,602,785	3,041,464
	Chevron Corp.	18,849,627	1,451,233
	Schlumberger Ltd.	11,281,583	734,318
	ConocoPhillips	13,939,798	711,905
	Occidental
	Petroleum Corp.	7,625,867	620,364
	Apache Corp.	3,158,420	325,854
	Devon Energy Corp.	4,172,348	306,668
	Anadarko Petroleum Corp.	4,617,807	288,244
	Halliburton Co.	8,473,675	254,973
	XTO Energy Inc.	5,452,302	253,696
	EOG Resources Inc.	2,370,876	230,686
	Marathon Oil Corp.	6,650,233	207,620
	National Oilwell Varco Inc.	3,930,210	173,283
	Hess Corp.	2,734,738	165,452
	Chesapeake Energy Corp.	6,085,153	157,484
*	Southwestern Energy Co.	3,243,971	156,359
	Spectra Energy Corp.	6,076,103	124,621
	Baker Hughes Inc.	2,911,290	117,849
	Noble Energy Inc.	1,629,703	116,067
	Williams Cos. Inc.	5,478,326	115,483
	Peabody Energy Corp.	2,516,153	113,755
	Murphy Oil Corp.	1,794,580	97,266
*	Cameron
	International Corp.	2,296,151	95,979
	Valero Energy Corp.	5,301,753	88,804
	Consol Energy Inc.	1,699,693	84,645
	Range Resources Corp.	1,482,548	73,905
*	FMC Technologies Inc.	1,148,231	66,414
	El Paso Corp.	6,591,269	64,792
	Diamond Offshore
	Drilling Inc.	652,874	64,256
	Smith International Inc.	2,325,662	63,188
*	Nabors Industries Ltd.	2,662,590	58,284
	Pioneer Natural
	Resources Co.	1,083,248	52,180
	BJ Services Co.	2,756,966	51,280
	Cabot Oil & Gas Corp.	973,567	42,438
*	Denbury Resources Inc.	2,346,479	34,728
	Massey Energy Co.	804,536	33,799
	Sunoco Inc.	1,099,555	28,698
*	Rowan Cos. Inc.	1,069,913	24,223
	Tesoro Corp.	1,318,754	17,869
			10,710,126

14

500 Index Fund

			Market
			Value•
		Shares	($000)
Financials (14.4%)
	JPMorgan Chase & Co.	37,024,071	1,542,793
	Bank of America Corp.	93,359,934	1,406,001
	Wells Fargo & Co.	48,020,508	1,296,073
	Goldman Sachs
	Group Inc.	4,829,941	815,487
	Citigroup Inc.	183,208,379	606,420
	American Express Co.	11,172,514	452,710
	US Bancorp	17,967,623	404,451
	Morgan Stanley	12,772,183	378,057
	Bank of New York
	Mellon Corp.	11,314,047	316,454
	MetLife Inc.	7,692,575	271,933
	Travelers Cos. Inc.	5,133,218	255,942
	PNC Financial Services
	Group Inc.	4,334,852	228,837
	Prudential Financial Inc.	4,359,256	216,917
	Simon Property Group Inc.	2,678,609	213,753
	CME Group Inc.	624,956	209,954
	Aflac Inc.	4,395,916	203,311
	State Street Corp.	4,647,368	202,346
	Charles Schwab Corp.	8,952,874	168,493
	BB&T Corp.	6,460,033	163,891
	Capital One
	Financial Corp.	4,226,988	162,063
	Chubb Corp.	3,209,019	157,820
	Allstate Corp.	5,040,100	151,405
	Franklin Resources Inc.	1,399,886	147,478
	T Rowe Price Group Inc.	2,419,078	128,816
	Loews Corp.	3,390,391	123,241
	Northern Trust Corp.	2,268,871	118,889
*	Progressive Corp.	6,334,074	113,950
	Marsh & McLennan
	Cos. Inc.	4,955,810	109,424
	Public Storage	1,274,136	103,778
	Vornado Realty Trust	1,472,981	103,020
	AON Corp.	2,573,379	98,663
	SunTrust Banks Inc.	4,689,231	95,144
	Invesco Ltd.	4,028,090	94,620
	Ameriprise Financial Inc.	2,395,564	92,996
	Equity Residential	2,594,169	87,631
	Boston Properties Inc.	1,303,112	87,400
	HCP Inc.	2,753,801	84,101
	Hartford Financial
	Services Group Inc.	3,598,128	83,692
*	Intercontinental-
	Exchange Inc.	688,127	77,277
	Discover Financial
	Services	5,101,986	75,050
	Fifth Third Bancorp	7,475,321	72,884
	Principal Financial
	Group Inc.	2,996,158	72,028
	Lincoln National Corp.	2,839,282	70,641
	Host Hotels
	& Resorts Inc.	5,931,779	69,224
	Ventas Inc.	1,472,114	64,390

	AvalonBay
	Communities Inc.	765,491	62,854
	NYSE Euronext	2,443,638	61,824
	Hudson City Bancorp Inc.	4,444,212	61,019
	Unum Group	3,118,152	60,866
	ProLogis	4,445,256	60,856
	Regions Financial Corp.	11,166,195	59,069
	XL Capital Ltd. Class A	3,215,566	58,941
	Plum Creek Timber
	Co. Inc.	1,529,465	57,753
	People’s United
	Financial Inc.	3,271,364	54,632
*	Genworth Financial Inc.
	Class A	4,589,357	52,089
^	M&T Bank Corp.	776,447	51,937
	Health Care REIT Inc.	1,156,093	51,238
	Kimco Realty Corp.	3,773,646	51,057
*	SLM Corp.	4,458,131	50,243
	Moody’s Corp.	1,843,887	49,416
	Legg Mason Inc.	1,526,075	46,026
	KeyCorp	8,252,648	45,802
*	Leucadia National Corp.	1,781,329	42,378
	Comerica Inc.	1,419,499	41,975
	Cincinnati Financial Corp.	1,528,256	40,101
*,^	American International
	Group Inc.	1,264,389	37,906
*	CB Richard Ellis
	Group Inc. Class A	2,533,475	34,379
	Torchmark Corp.	778,608	34,220
	Assurant Inc.	1,098,579	32,386
*	First Horizon
	National Corp.	2,087,333	27,970
*	NASDAQ OMX Group Inc.	1,389,741	27,545
	Marshall & Ilsley Corp.	4,935,148	26,897
*	E*Trade Financial Corp.	14,563,826	25,487
	Huntington
	Bancshares Inc.	6,725,719	24,549
	Janus Capital Group Inc.	1,712,059	23,027
	Federated Investors Inc.
	Class B	828,637	22,788
	Apartment Investment
	& Management Co.	1,100,436	17,519
^	Zions Bancorporation	1,299,963	16,679
			13,410,876
Health Care (12.6%)
	Johnson & Johnson	25,922,822	1,669,689
	Pfizer Inc.	75,816,588	1,379,104
	Merck & Co. Inc.	28,697,985	1,048,624
	Abbott Laboratories	14,532,118	784,589
*	Amgen Inc.	9,509,333	537,943
	Medtronic Inc.	10,398,698	457,335
	Bristol-Myers Squibb Co.	16,081,721	406,063
*	Gilead Sciences Inc.	8,454,915	365,929
	Eli Lilly & Co.	9,499,800	339,238
	UnitedHealth Group Inc.	10,917,312	332,760
	Baxter International Inc.	5,663,980	332,362

15

500 Index Fund

			Market
			Value•
		Shares	($000)
*	Medco Health
	Solutions Inc.	4,479,249	286,269
*	WellPoint Inc.	4,306,205	251,009
*	Celgene Corp.	4,317,969	240,424
*	Express Scripts Inc.	2,581,011	223,128
*	Thermo Fisher
	Scientific Inc.	3,836,036	182,940
	Allergan Inc.	2,889,062	182,040
	Becton Dickinson and Co.	2,227,699	175,676
	McKesson Corp.	2,517,667	157,354
*	Biogen Idec Inc.	2,716,947	145,357
	Stryker Corp.	2,652,963	133,630
	Aetna Inc.	4,072,624	129,102
*	Boston Scientific Corp.	14,190,091	127,711
*	Genzyme Corp.	2,493,123	122,188
*	Zimmer Holdings Inc.	2,000,821	118,268
*	St Jude Medical Inc.	3,140,151	115,495
	Cardinal Health Inc.	3,407,330	109,852
*	Intuitive Surgical Inc.	358,795	108,830
*	Forest Laboratories Inc.	2,834,875	91,028
	CIGNA Corp.	2,568,715	90,599
	Quest Diagnostics Inc.	1,459,798	88,143
*	Life Technologies Corp.	1,676,189	87,547
*	Hospira Inc.	1,524,159	77,732
*	Laboratory Corp. of
	America Holdings	998,196	74,705
	CR Bard Inc.	907,410	70,687
	AmerisourceBergen Corp.
	Class A	2,707,696	70,590
*	Humana Inc.	1,596,485	70,070
*	DaVita Inc.	960,037	56,393
*	Waters Corp.	889,533	55,115
*	Varian Medical
	Systems Inc.	1,169,000	54,768
*	Mylan Inc.	2,870,528	52,904
	DENTSPLY
	International Inc.	1,428,178	50,229
*	Cephalon Inc.	701,283	43,767
*	CareFusion Corp.	1,663,620	41,607
*	Watson
	Pharmaceuticals Inc.	996,913	39,488
*	Millipore Corp.	522,348	37,792
	IMS Health Inc.	1,713,650	36,089
*	Coventry Health Care Inc.	1,389,915	33,761
*	King Pharmaceuticals Inc.	2,334,890	28,649
*	Patterson Cos. Inc.	875,446	24,495
	PerkinElmer Inc.	1,098,207	22,612
*	Tenet Healthcare Corp.	4,072,930	21,953
			11,783,632
Industrials (10.2%)
	General Electric Co.	100,037,634	1,513,569
	United
	Technologies Corp.	8,808,398	611,391
	3M Co.	6,651,435	549,874
	United Parcel Service Inc.
	Class B	9,327,681	535,129

	Boeing Co.	6,826,521	369,520
	Caterpillar Inc.	5,850,653	333,429
	Union Pacific Corp.	4,740,288	302,904
	Emerson Electric Co.	7,066,530	301,034
	Honeywell
	International Inc.	7,168,884	281,020
	General Dynamics Corp.	3,624,607	247,089
	FedEx Corp.	2,936,073	245,015
	Burlington Northern
	Santa Fe Corp.	2,462,777	242,879
	Lockheed Martin Corp.	3,005,054	226,431
	Deere & Co.	3,973,609	214,933
	Danaher Corp.	2,444,502	183,827
	Raytheon Co.	3,539,687	182,365
	Norfolk Southern Corp.	3,456,281	181,178
	CSX Corp.	3,688,073	178,835
	Illinois Tool Works Inc.	3,623,558	173,895
	Northrop Grumman Corp.	2,947,672	164,627
	Waste Management Inc.	4,600,237	155,534
	Precision Castparts Corp.	1,322,032	145,886
	PACCAR Inc.	3,415,024	123,863
	Eaton Corp.	1,557,537	99,091
	L-3 Communications
	Holdings Inc.	1,091,857	94,937
	CH Robinson
	Worldwide Inc.	1,575,761	92,544
	Cummins Inc.	1,896,644	86,980
	Republic Services Inc.
	Class A	3,035,499	85,935
	ITT Corp.	1,717,263	85,417
	Rockwell Collins Inc.	1,477,877	81,815
	Parker Hannifin Corp.	1,510,384	81,379
	Southwest Airlines Co.	6,973,670	79,709
	Fluor Corp.	1,682,322	75,772
	Goodrich Corp.	1,168,791	75,095
	Dover Corp.	1,749,896	72,813
	Expeditors International
	of Washington Inc.	1,992,991	69,217
	Rockwell Automation Inc.	1,336,953	62,810
*,^	First Solar Inc.	455,635	61,693
	WW Grainger Inc.	593,687	57,487
^	Fastenal Co.	1,240,118	51,639
	Flowserve Corp.	524,615	49,592
	Textron Inc.	2,546,714	47,904
	Masco Corp.	3,373,235	46,584
	Roper Industries Inc.	856,025	44,830
	Pitney Bowes Inc.	1,945,659	44,283
*	Jacobs Engineering
	Group Inc.	1,167,940	43,926
*	Stericycle Inc.	791,098	43,645
	RR Donnelley & Sons Co.	1,928,470	42,947
	Dun & Bradstreet Corp.	488,123	41,183
*	Quanta Services Inc.	1,970,988	41,075
	Pall Corp.	1,097,941	39,745
	Stanley Works	755,333	38,907
*	Iron Mountain Inc.	1,699,978	38,692

16

500 Index Fund

			Market
			Value•
		Shares	($000)
	Avery Dennison Corp.	1,058,963	38,642
	Robert Half
	International Inc.	1,418,019	37,904
	Equifax Inc.	1,187,949	36,696
	Cintas Corp.	1,236,479	32,210
	Snap-On Inc.	542,975	22,946
	Ryder System Inc.	527,174	21,704
*	Monster Worldwide Inc.	1,182,268	20,571
*	Raytheon Co.
	Warrants Exp. 6/16/11	60,569	878
			9,553,424
Information Technology (19.8%)
	Microsoft Corp.	72,578,188	2,212,909
*	Apple Inc.	8,462,250	1,784,350
	International Business
	Machines Corp.	12,341,796	1,615,541
*	Google Inc. Class A	2,265,467	1,404,544
*	Cisco Systems Inc.	54,047,833	1,293,905
	Hewlett-Packard Co.	22,277,039	1,147,490
	Intel Corp.	51,881,358	1,058,380
	Oracle Corp.	36,738,428	901,561
	QUALCOMM Inc.	15,693,178	725,966
	Visa Inc. Class A	4,208,402	368,067
*	EMC Corp.	19,164,530	334,804
	Texas Instruments Inc.	11,770,886	306,749
	Corning Inc.	14,619,659	282,306
*	eBay Inc.	10,568,293	248,778
*	Dell Inc.	16,176,953	232,301
	Mastercard Inc. Class A	902,086	230,916
	Automatic Data
	Processing Inc.	4,740,954	203,008
*	Yahoo! Inc.	11,188,490	187,743
*	Adobe Systems Inc.	4,920,713	180,984
	Applied Materials Inc.	12,530,129	174,670
	Motorola Inc.	21,711,198	168,479
*	Symantec Corp.	7,615,055	136,233
*	Juniper Networks Inc.	4,936,314	131,651
*	Broadcom Corp. Class A	4,046,582	127,265
*	Cognizant Technology
	Solutions Corp. Class A	2,768,670	125,421
	Western Union Co.	6,502,166	122,566
*	NetApp Inc.	3,183,868	109,493
*	Agilent Technologies Inc.	3,242,151	100,734
*	NVIDIA Corp.	5,212,987	97,379
*	Western Digital Corp.	2,117,279	93,478
	Paychex Inc.	3,021,489	92,578
*	Intuit Inc.	2,975,726	91,385
	Analog Devices Inc.	2,743,277	86,633
*	Micron Technology Inc.	7,983,834	84,309
	CA Inc.	3,724,918	83,662
*	Computer Sciences Corp.	1,432,600	82,417
*	Salesforce.com Inc.	1,033,036	76,207
	Amphenol Corp. Class A	1,611,905	74,438
	Fidelity National
	Information Services Inc.	3,081,163	72,222
*	Citrix Systems Inc.	1,719,760	71,559

*	Fiserv Inc.	1,446,463	70,125
*	BMC Software Inc.	1,723,691	69,120
	Xerox Corp.	8,165,854	69,083
*	Sun Microsystems Inc.	7,080,919	66,348
	Xilinx Inc.	2,602,168	65,210
	Linear Technology Corp.	2,096,963	64,041
	Altera Corp.	2,776,193	62,825
*	SanDisk Corp.	2,144,894	62,180
*	McAfee Inc.	1,482,456	60,143
	Harris Corp.	1,237,998	58,867
	KLA-Tencor Corp.	1,606,173	58,079
*	Autodesk Inc.	2,157,882	54,832
*	Affiliated Computer
	Services Inc. Class A	917,171	54,746
*	Red Hat Inc.	1,763,850	54,503
*	SAIC Inc.	2,876,189	54,475
*	Electronic Arts Inc.	3,057,427	54,269
*	Advanced Micro
	Devices Inc.	5,289,125	51,199
*	Teradata Corp.	1,608,142	50,544
	Microchip Technology Inc.	1,724,592	50,117
*	FLIR Systems Inc.	1,425,752	46,651
*	VeriSign Inc.	1,806,755	43,796
*	Akamai Technologies Inc.	1,608,811	40,751
*	LSI Corp.	6,135,056	36,872
	National
	Semiconductor Corp.	2,222,378	34,136
	Total System Services Inc.	1,854,701	32,031
	Jabil Circuit Inc.	1,793,078	31,146
*	MEMC Electronic
	Materials Inc.	2,102,753	28,639
	Molex Inc.	1,270,547	27,380
*	Novellus Systems Inc.	912,317	21,293
*	Tellabs Inc.	3,632,370	20,632
*	QLogic Corp.	1,077,938	20,341
*	Lexmark International Inc.
	Class A	734,554	19,084
*	Teradyne Inc.	1,644,864	17,649
*	JDS Uniphase Corp.	2,093,906	17,275
*	Compuware Corp.	2,167,731	15,673
*	Novell Inc.	3,261,884	13,537
	Molex Inc. Class A	4,051	77
			18,520,750
Materials (3.6%)
	Monsanto Co.	5,120,839	418,629
*	Freeport-McMoRan
	Copper & Gold Inc.	4,038,730	324,270
	Dow Chemical Co.	10,745,473	296,897
	EI du Pont de Nemours
	& Co.	8,490,603	285,879
	Praxair Inc.	2,882,444	231,489
	Newmont Mining Corp.	4,605,103	217,867
	Air Products
	& Chemicals Inc.	1,988,890	161,219
	Alcoa Inc.	9,154,062	147,563
	Nucor Corp.	2,957,531	137,969

17

500 Index Fund

			Market
			Value•
		Shares	($000)
	International Paper Co.	4,068,694	108,960
	Ecolab Inc.	2,231,730	99,490
	PPG Industries Inc.	1,568,743	91,834
	Weyerhaeuser Co.	1,986,538	85,699
	United States Steel Corp.	1,347,379	74,268
	Vulcan Materials Co.	1,178,594	62,077
	Sigma-Aldrich Corp.	1,143,950	57,804
	Cliffs Natural
	Resources Inc.	1,231,049	56,739
*	Owens-Illinois Inc.	1,582,882	52,029
	MeadWestvaco Corp.	1,607,605	46,026
	Ball Corp.	883,918	45,699
	CF Industries Holdings Inc.	456,117	41,406
	Allegheny Technologies Inc.	921,234	41,244
	Eastman Chemical Co.	682,890	41,137
	FMC Corp.	679,052	37,864
	Airgas Inc.	771,181	36,708
	Sealed Air Corp.	1,495,094	32,683
	International Flavors
	& Fragrances Inc.	743,432	30,585
	Bemis Co. Inc.	1,017,681	30,174
*	Pactiv Corp.	1,244,568	30,044
	AK Steel Holding Corp.	1,028,642	21,961
*	Titanium Metals Corp.	795,781	9,963
			3,356,176
Telecommunication Services (3.2%)
	AT&T Inc.	55,442,334	1,554,049
	Verizon
	Communications Inc.	26,688,910	884,204
*	American Tower Corp.
	Class A	3,771,545	162,968
*	Sprint Nextel Corp.	27,892,355	102,086
	CenturyTel Inc.	2,795,101	101,211
	Qwest Communications
	International Inc.	13,949,050	58,725
	Windstream Corp.	4,102,519	45,087
	Frontier
	Communications Corp.	2,937,665	22,943
*	MetroPCS
	Communications Inc.	2,452,818	18,715
			2,949,988
Utilities (3.7%)
	Exelon Corp.	6,194,871	302,743
	Southern Co.	7,518,063	250,502
	Dominion Resources Inc.	5,611,109	218,384
	Duke Energy Corp.	12,256,784	210,939
	FPL Group Inc.	3,883,322	205,117
	Public Service Enterprise
	Group Inc.	4,753,577	158,057
	American Electric
	Power Co. Inc.	4,487,532	156,121
	PG&E Corp.	3,485,065	155,608
	Entergy Corp.	1,774,933	145,261
	FirstEnergy Corp.	2,863,836	133,025
	Sempra Energy	2,315,209	129,605

Consolidated Edison Inc.	2,636,168	119,761
PPL Corp.	3,542,425	114,456
Progress Energy Inc.	2,626,899	107,729
Edison International	3,060,804	106,455
Xcel Energy Inc.	4,289,922	91,032
* AES Corp.	6,274,855	83,518
Questar Corp.	1,638,877	68,128
DTE Energy Co.	1,550,153	67,571
Constellation Energy
Group Inc.	1,888,295	66,411
Ameren Corp.	2,226,815	62,240
Wisconsin Energy Corp.	1,098,198	54,723
EQT Corp.	1,229,833	54,014
CenterPoint Energy Inc.	3,667,055	53,209
Northeast Utilities	1,648,201	42,507
NiSource Inc.	2,590,234	39,838
SCANA Corp.	1,040,868	39,220
Allegheny Energy Inc.	1,592,706	37,397
Pepco Holdings Inc.	2,081,404	35,072
Pinnacle West
Capital Corp.	951,299	34,799
CMS Energy Corp.	2,156,668	33,774
TECO Energy Inc.	2,010,657	32,613
Integrys Energy Group Inc.	718,776	30,181
Nicor Inc.	425,360	17,908
		3,457,918
Total Common Stocks
(Cost $75,665,804)		93,288,084
Temporary Cash Investments (0.3%)1
Money Market Fund (0.2%)
2,3 Vanguard Market
Liquidity Fund,
0.187%	191,912,595	191,913
	Face
	Amount
	($000)
U.S. Government and Agency Obligations (0.1%)
4,5 Federal Home
Loan Bank
Discount Notes,
0.275%, 2/19/10	43,000	42,996
Total Temporary Cash Investments
(Cost $234,897)		234,909
Total Investments (100.3%)
(Cost $75,900,701)		93,522,993
Other Assets and Liabilities (-0.3%)
Other Assets		583,819
Liabilities3		(823,953)
		(240,134)
Net Assets (100%)		93,282,859

18

500 Index Fund

At December 31, 2009, net assets consisted of:

	Amount
	($000)
Paid-in Capital	78,716,092
Overdistributed Net Investment Income	(203,790)
Accumulated Net Realized Losses	(2,851,931)
Unrealized Appreciation (Depreciation)
Investment Securities	17,622,292
Futures Contracts	196
Net Assets	93,282,859
Investor Shares—Net Assets
Applicable to 470,570,841 outstanding
$.001 par value shares of beneficial
interest (unlimited authorization)	48,312,768
Net Asset Value Per Share—
Investor Shares	$102.67
Admiral Shares—Net Assets
Applicable to 276,413,969 outstanding
$.001 par value shares of beneficial
interest (unlimited authorization)	28,379,853
Net Asset Value Per Share—
Admiral Shares	$102.67
Signal Shares—Net Assets
Applicable to 195,612,630 outstanding
$.001 par value shares of beneficial
interest (unlimited authorization)	16,590,238
Net Asset Value Per Share—
Signal Shares	$84.81

• See Note A in Notes to Financial Statements.
* Non-income-producing security.
^ Part of security position is on loan to broker-dealers. The total value of securities on loan is $140,410,000.
1 The fund invests a portion of its cash reserves in equity markets through the use of index futures contracts. After giving effect to futures
investments, the fund’s effective common stock and temporary cash investment positions represent 100.0% and 0.3%, respectively, of
net assets.
2 Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by Vanguard. Rate shown is the
7-day yield.
3 Includes $146,453,000 of collateral received for securities on loan.
4 The issuer operates under a congressional charter; its securities are not backed by the full faith and credit of the U.S. government.
5 Securities with a value of $42,996,000 have been segregated as initial margin for open futures contracts.
REIT—Real Estate Investment Trust.
See accompanying Notes, which are an integral part of the Financial Statements.
19

500 Index Fund

Statement of Operations

	Year Ended
	December 31, 2009
	($000)
Investment Income
Income
Dividends	2,017,204
Interest1	3,205
Security Lending	56,765
Total Income	2,077,174
Expenses
The Vanguard Group—Note B
Investment Advisory Services	2,844
Management and Administrative—Investor Shares	59,129
Management and Administrative—Admiral Shares	10,362
Management and Administrative—Signal Shares	5,453
Marketing and Distribution—Investor Shares	9,731
Marketing and Distribution—Admiral Shares	4,876
Marketing and Distribution—Signal Shares	3,636
Custodian Fees	601
Auditing Fees	27
Shareholders’ Reports and Proxies—Investor Shares	3,361
Shareholders’ Reports and Proxies—Admiral Shares	273
Shareholders’ Reports and Proxies—Signal Shares	121
Trustees’ Fees and Expenses	160
Total Expenses	100,574
Net Investment Income	1,976,600
Realized Net Gain (Loss)
Investment Securities Sold	4,962,781
Futures Contracts	142,445
Realized Net Gain (Loss)	5,105,226
Change in Unrealized Appreciation (Depreciation)
Investment Securities	12,807,453
Futures Contracts	(14,180)
Change in Unrealized Appreciation (Depreciation)	12,793,273
Net Increase (Decrease) in Net Assets Resulting from Operations	19,875,099
1 Interest income from an affiliated company of the fund was $2,667,000.

See accompanying Notes, which are an integral part of the Financial Statements.
20

500 Index Fund

Statement of Changes in Net Assets

	Year Ended December 31,
	2009	2008
	($000)	($000)
Increase (Decrease) in Net Assets
Operations
Net Investment Income	1,976,600	2,238,198
Realized Net Gain (Loss)	5,105,226	(2,030,619)
Change in Unrealized Appreciation (Depreciation)	12,793,273	(44,962,918)
Net Increase (Decrease) in Net Assets Resulting from Operations	19,875,099	(44,755,339)
Distributions
Net Investment Income
Investor Shares	(992,312)	(1,158,418)
Admiral Shares	(603,880)	(714,034)
Signal Shares	(359,090)	(420,262)
Realized Capital Gain
Investor Shares	—	—
Admiral Shares	—	—
Signal Shares	—	—
Total Distributions	(1,955,282)	(2,292,714)
Capital Share Transactions
Investor Shares	204,042	(445,693)
Admiral Shares	59,911	292,556
Signal Shares	213,059	214,326
Net Increase (Decrease) from Capital Share Transactions	477,012	61,189
Total Increase (Decrease)	18,396,829	(46,986,864)
Net Assets
Beginning of Period	74,886,030	121,872,894
End of Period1	93,282,859	74,886,030
1 Net Assets—End of Period includes undistributed (overdistributed) net investment income of ($203,790,000) and ($225,108,000).

See accompanying Notes, which are an integral part of the Financial Statements.

21

Financial Highlights

Investor Shares
For a Share Outstanding	Year Ended December 31,
Throughout Each Period	2009	2008	2007	2006	2005
Net Asset Value, Beginning of Period	$83.09	$135.15	$130.59	$114.92	$111.64
Investment Operations
Net Investment Income	2.131	2.443	2.470	2.110	1.950
Net Realized and Unrealized Gain (Loss)
on Investments	19.553	(51.998)	4.580	15.700	3.310
Total from Investment Operations	21.684	(49.555)	7.050	17.810	5.260
Distributions
Dividends from Net Investment Income	(2.104)	(2.505)	(2.490)	(2.140)	(1.980)
Distributions from Realized Capital Gains	—	—	—	—	—
Total Distributions	(2.104)	(2.505)	(2.490)	(2.140)	(1.980)
Net Asset Value, End of Period	$102.67	$83.09	$135.15	$130.59	$114.92
Total Return1	26.49%	-37.02%	5.39%	15.64%	4.77%
Ratios/Supplemental Data
Net Assets, End of Period (Millions)	$48,313	$38,778	$63,327	$72,013	$69,375
Ratio of Total Expenses to
Average Net Assets	0.18%	0.16%	0.15%	0.18%	0.18%
Ratio of Net Investment Income to
Average Net Assets	2.42%	2.16%	1.81%	1.74%	1.75%
Portfolio Turnover Rate2	12%	6%	5%	5%	6%

1 Total returns do not include the account service fee that may be applicable to certain accounts with balances below $10,000.
2 Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares.

See accompanying Notes, which are an integral part of the Financial Statements.
22

Financial Highlights

Admiral Shares
For a Share Outstanding	Year Ended December 31,
Throughout Each Period	2009	2008	2007	2006	2005
Net Asset Value, Beginning of Period	$83.09	$135.15	$130.59	$114.92	$111.64
Investment Operations
Net Investment Income	2.227	2.534	2.583	2.222	2.052
Net Realized and Unrealized Gain (Loss)
on Investments	19.556	(52.000)	4.576	15.700	3.310
Total from Investment Operations	21.783	(49.466)	7.159	17.922	5.362
Distributions
Dividends from Net Investment Income	(2.203)	(2.594)	(2.599)	(2.252)	(2.082)
Distributions from Realized Capital Gains	—	—	—	—	—
Total Distributions	(2.203)	(2.594)	(2.599)	(2.252)	(2.082)
Net Asset Value, End of Period	$102.67	$83.09	$135.15	$130.59	$114.92
Total Return	26.62%	-36.97%	5.47%	15.75%	4.87%
Ratios/Supplemental Data
Net Assets, End of Period (Millions)	$28,380	$23,009	$37,113	$46,4