N-CSR 1 indexfinal.htm indexfinal.htm - Generated by SEC Publisher for SEC Filing

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  $46,467  $38,028 
Ratio of Total Expenses to           
Average Net Assets  0.07%  0.08%  0.07%  0.09%  0.09% 
Ratio of Net Investment Income to           
Average Net Assets  2.53%  2.24%  1.89%  1.83%  1.84% 
Portfolio Turnover Rate1  12%  6%  5%  5%  6% 

1 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.
23


500 Index Fund

Financial Highlights

Signal Shares         
        Sept. 29, 
        20061 to 
  Year Ended December 31,  Dec. 31, 
For a Share Outstanding Throughout Each Period  2009  2008  2007  2006 
Net Asset Value, Beginning of Period  $68.64  $111.64  $107.86  $101.61 
Investment Operations         
Net Investment Income  1.839  2.092  2.119  .502 
Net Realized and Unrealized Gain (Loss) on Investments  16.151  (42.952)  3.794  6.287 
Total from Investment Operations  17.990  (40.860)  5.913  6.789 
Distributions         
Dividends from Net Investment Income  (1.820)  (2.140)  (2.133)  (.539) 
Distributions from Realized Capital Gains  —  —  —  — 
Total Distributions  (1.820)  (2.140)  (2.133)  (.539) 
Net Asset Value, End of Period  $84.81  $68.64  $111.64  $107.86 
 
Total Return  26.61%  -36.97%  5.47%  6.68% 
 
Ratios/Supplemental Data         
Net Assets, End of Period (Millions)  $16,590  $13,099  $21,433  $713 
Ratio of Total Expenses to Average Net Assets  0.07%  0.08%  0.07%  0.09%2 
Ratio of Net Investment Income to Average Net Assets  2.53%  2.24%  1.89%  1.83%2 
Portfolio Turnover Rate3  12%  6%  5%  5% 

1 Inception.
2 Annualized.
3 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.
24


500 Index Fund

Notes to Financial Statements

Vanguard 500 Index Fund is registered under the Investment Company Act of 1940 as an open-end investment company, or mutual fund. The fund offers three classes of shares: Investor Shares, Admiral Shares, and Signal Shares. Investor Shares are available to any investor who meets the fund’s minimum purchase requirements. Admiral Shares are designed for investors who meet certain administrative, service, tenure, and account-size criteria. Signal Shares are designed for institutional investors who meet certain administrative, service, and account-size criteria.

A. The following significant accounting policies conform to generally accepted accounting principles for U.S. mutual funds. The fund consistently follows such policies in preparing its financial statements.

1. Security Valuation: Securities are valued as of the close of trading on the New York Stock Exchange (generally 4 p.m., Eastern time) on the valuation date. Equity securities are valued at the latest quoted sales prices or official closing prices taken from the primary market in which each security trades; such securities not traded on the valuation date are valued at the mean of the latest quoted bid and asked prices. Securities for which market quotations are not readily available, or whose values have been materially affected by events occurring before the fund’s pricing time but after the close of the securities’ primary markets, are valued by methods deemed by the board of trustees to represent fair value. Investments in Vanguard Market Liquidity Fund are valued at that fund’s net asset value.

Temporary cash investments acquired over 60 days to maturity are valued using the latest bid prices or using valuations based on a matrix system (which considers such factors as security prices, yields, maturities, and ratings), both as furnished by independent pricing services. Other temporary cash investments are valued at amortized cost, which approximates market value.

2. Futures Contracts: The fund uses index futures contracts to a limited extent, with the objectives of maintaining full exposure to the stock market, enhancing returns, maintaining liquidity, and minimizing transaction costs. The fund may purchase futures contracts to immediately invest incoming cash in the market, or sell futures in response to cash outflows, thereby simulating a fully invested position in the underlying index while maintaining a cash balance for liquidity. The fund may seek to enhance returns by using futures contracts instead of the underlying securities when futures are believed to be priced more attractively than the underlying securities. The primary risks associated with the use of futures contracts are imperfect correlation between changes in market values of stocks held by the fund and the prices of futures contracts, and the possibility of an illiquid market.

Futures contracts are valued at their quoted daily settlement prices. The aggregate principal amounts of the contracts are not recorded in the Statement of Net Assets. Fluctuations in the value of the contracts are recorded in the Statement of Net Assets as an asset (liability) and in the Statement of Operations as unrealized appreciation (depreciation) until the contracts are closed, when they are recorded as realized futures gains (losses).

3. Federal Income Taxes: The fund intends to continue to qualify as a regulated investment company and distribute all of its taxable income. Management has analyzed the fund’s tax positions taken for all open federal income tax years (December 31, 2006–2009), and has concluded that no provision for federal income tax is required in the fund’s financial statements.

4. Distributions: Distributions to shareholders are recorded on the ex-dividend date.

25


500 Index Fund

5. Security Lending: The fund may lend its securities to qualified institutional borrowers to earn additional income. Security loans are required to be secured at all times by collateral at least equal to the market value of securities loaned. The fund invests cash collateral received in Vanguard Market Liquidity Fund, and records a liability for the return of the collateral, during the period the securities are on loan. Security lending income represents the income earned on investing cash collateral, less expenses associated with the loan.

6. Other: Dividend income is recorded on the ex-dividend date. Interest income includes income distributions received from Vanguard Market Liquidity Fund and is accrued daily. Security transactions are accounted for on the date securities are bought or sold. Costs used to determine realized gains (losses) on the sale of investment securities are those of the specific securities sold.

Each class of shares has equal rights as to assets and earnings, except that each class separately bears certain class-specific expenses related to maintenance of shareholder accounts (included in Management and Administrative expenses), shareholder reporting, and proxies. Marketing and distribution expenses are allocated to each class of shares based on a method approved by the board of trustees. Income, other non-class-specific expenses, and gains and losses on investments are allocated to each class of shares based on its relative net assets.

B. The Vanguard Group furnishes at cost investment advisory, corporate management, administrative, marketing, and distribution services. The costs of such services are allocated to the fund under methods approved by the board of trustees. The fund has committed to provide up to 0.40% of its net assets in capital contributions to Vanguard. At December 31, 2009, the fund had contributed capital of $18,497,000 to Vanguard (included in Other Assets), representing 0.02% of the fund’s net assets and 7.40% of Vanguard’s capitalization. The fund’s trustees and officers are also directors and officers of Vanguard.

C. Various inputs may be used to determine the value of the fund’s investments. These inputs are summarized in three broad levels for financial statement purposes. The inputs or methodologies used to value securities are not necessarily an indication of the risk associated with investing in those securities.

Level 1—Quoted prices in active markets for identical securities.

Level 2—Other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).

Level 3—Significant unobservable inputs (including the fund’s own assumptions used to determine the fair value of investments).

The following table summarizes the fund’s investments as of December 31, 2009, based on the inputs used to value them:

  Level 1  Level 2  Level 3 
Investments  ($000)  ($000)  ($000) 
Common Stocks  93,288,084  —  — 
Temporary Cash Investments  191,913  42,996  — 
Futures Contracts—Liabilities1  (453)  —  — 
Total  93,479,544  42,996  — 
1 Represents variation margin on the last day of the reporting period.       

26


500 Index Fund

D. At December 31, 2009, the aggregate settlement value of open futures contracts and the related unrealized appreciation (depreciation) were:

      ($000) 
    Number of  Aggregate  Unrealized 
    Long (Short)  Settlement  Appreciation 
Futures Contracts  Expiration  Contracts  Value  (Depreciation) 
S&P 500 Index  March 2010  44  12,218  149 
E-mini S&P 500 Index  March 2010  70  3,887  47 

Unrealized appreciation (depreciation) on open futures contracts is required to be treated as realized gain (loss) for tax purposes.

E. Distributions are determined on a tax basis and may differ from net investment income and realized capital gains for financial reporting purposes. Differences may be permanent or temporary. Permanent differences are reclassified among capital accounts in the financial statements to reflect their tax character. Temporary differences arise when certain items of income, expense, gain, or loss are recognized in different periods for financial statement and tax purposes; these differences will reverse at some time in the future. Differences in classification may also result from the treatment of short-term gains as ordinary income for tax purposes.

During the year ended December 31, 2009, the fund realized $250,770,000 of net capital gains resulting from in-kind redemptions—in which shareholders exchanged fund shares for securities held by the fund rather than for cash. Because such gains are not taxable to the fund, and are not distributed to shareholders, they have been reclassified from accumulated net realized losses to paid-in capital.

For tax purposes, at December 31, 2009, the fund had $11,425,000 of ordinary income available for distribution. The fund had available capital loss carryforwards totaling $2,848,108,000 to offset future net capital gains of $1,084,138,000 through December 31, 2014, and $1,763,970,000 through December 31, 2016.

At December 31, 2009, the cost of investment securities for tax purposes was $75,900,716,000. Net unrealized appreciation of investment securities for tax purposes was $17,622,277,000, consisting of unrealized gains of $29,920,249,000 on securities that had risen in value since their purchase and $12,297,972,000 in unrealized losses on securities that had fallen in value since their purchase.

F. During the year ended December 31, 2009, the fund purchased $10,708,920,000 of investment securities and sold $9,519,429,000 of investment securities, other than temporary cash investments.

27


500 Index Fund

G. Capital share transactions for each class of shares were:

  Year Ended December 31, 
  2009  2008 
  Amount  Shares  Amount  Shares 
  ($000)  (000)  ($000)  (000) 
Investor Shares         
Issued  6,999,037  82,421  8,623,602  79,879 
Issued in Lieu of Cash Distributions  961,778  10,704  1,121,903  10,825 
Redeemed  (7,756,773)  (89,256)  (10,191,198)  (92,585) 
Net Increase (Decrease)—Investor Shares  204,042  3,869  (445,693)  (1,881) 
Admiral Shares         
Issued  3,155,584  36,520  4,245,265  40,714 
Issued in Lieu of Cash Distributions  527,723  5,866  627,499  6,044 
Redeemed  (3,623,396)  (42,890)  (4,580,208)  (44,442) 
Net Increase (Decrease)—Admiral Shares  59,911  (504)  292,556  2,316 
Signal Shares         
Issued  3,948,201  56,496  5,268,980  58,305 
Issued in Lieu of Cash Distributions  323,718  4,362  386,239  4,497 
Redeemed  (4,058,860)  (56,083)  (5,440,893)  (63,953) 
Net Increase (Decrease)—Signal Shares  213,059  4,775  214,326  (1,151) 

H. In preparing the financial statements as of December 31, 2009, management considered the impact of subsequent events occurring through February 10, 2010, for potential recognition or disclosure in these financial statements.

28


Report of Independent Registered
Public Accounting Firm

To the Trustees of Vanguard Index Funds and the Shareholders of Vanguard 500 Index Fund:

In our opinion, the accompanying statement of net assets and the related statements of operations and of changes in net assets and the financial highlights present fairly, in all material respects, the financial position of Vanguard 500 Index Fund (constituting a separate portfolio of Vanguard Index Funds, hereafter referred to as the “Fund”) at December 31, 2009, the results of its operations for the year then ended, the changes in its net assets for each of the two years in the period then ended and the financial highlights for each of the periods indicated, in conformity with accounting principles generally accepted in the United States of America. These financial statements and financial highlights (hereafter referred to as “financial statements”) are the responsibility of the Fund’s management; our responsibility is to express an opinion on these financial statements based on our audits. We conducted our audits of these financial statements in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, and evaluating the overall financial statement presentation.

We believe that our audits, which included confirmation of securities at December 31, 2009 by correspondence with the custodian and broker and by agreement to the underlying ownership records of Vanguard Market Liquidity Fund, provide a reasonable basis for our opinion.

PricewaterhouseCoopers LLP
Philadelphia, Pennsylvania

February 10, 2010


Special 2009 tax information (unaudited) for Vanguard 500 Index Fund

This information for the fiscal year ended December 31, 2009, is included pursuant to provisions of the
Internal Revenue Code.

The fund distributed $1,955,282,000 of qualified dividend income to shareholders during the fiscal year.

For corporate shareholders, 100% of investment income (dividend income plus short-term gains, if any)
qualifies for the dividends-received deduction.

29


Your Fund’s After-Tax Returns

This table presents returns for your fund both before and after taxes. The after-tax returns are shown in two ways: (1) assuming that an investor owned the fund during the entire period and paid taxes on the fund’s distributions, and (2) assuming that an investor paid taxes on the fund’s distributions and sold all shares at the end of each period.

Calculations are based on the highest individual federal income tax and capital gains tax rates in effect at the times of the distributions and the hypothetical sales. State and local taxes were not considered. After-tax returns reflect any qualified dividend income . (In the example, returns after the sale of fund shares may be higher than those assuming no sale. This occurs when the sale would have produced a capital loss. The calculation assumes that the investor received a tax deduction for the loss.) The table shows returns for Investor Shares only; returns for other share classes will differ. Please note that your actual after-tax returns will depend on your tax situation and may differ from those shown. Also note that if you own the fund in a tax-deferred account, such as an individual retirement account or a 401(k) plan, this information does not apply to you. Such accounts are not subject to current taxes.

Finally, keep in mind that a fund’s performance—whether before or after taxes—does not guarantee future results.

Average Annual Total Returns: 500 Index Fund Investor Shares     
Periods Ended December 31, 2009       
  One  Five  Ten 
  Year  Years  Years 
Returns Before Taxes  26.49%  0.34%  -1.03% 
Returns After Taxes on Distributions  26.04  0.04  -1.38 
Returns After Taxes on Distributions and Sale of Fund Shares  17.69  0.30  -0.96 

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

30


About Your Fund’s Expenses

As a shareholder of the fund, you incur ongoing costs, which include costs for portfolio management, administrative services, and shareholder reports (like this one), among others. Operating expenses, which are deducted from a fund’s gross income, directly reduce the investment return of the fund.

A fund’s expenses are expressed as a percentage of its average net assets. This figure is known as the expense ratio. The following examples are intended to help you understand the ongoing costs (in dollars) of investing in your fund and to compare these costs with those of other mutual funds. The examples are based on an investment of $1,000 made at the beginning of the period shown and held for the entire period.

The accompanying table illustrates your fund’s costs in two ways:

• Based on actual fund return. This section helps you to estimate the actual expenses that you paid over the period. The ”Ending Account Value“ shown is derived from the fund‘s actual return, and the third column shows the dollar amount that would have been paid by an investor who started with $1,000 in the fund. You may use the information here, together with the amount you invested, to estimate the expenses that you paid over the period.

To do so, simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number given for your fund under the heading ”Expenses Paid During Period.“

• Based on hypothetical 5% yearly return. This section is intended to help you compare your fund‘s costs with those of other mutual funds. It assumes that the fund had a yearly return of 5% before expenses, but that the expense ratio is unchanged. In this case—because the return used is not the fund’s actual return—the results do not apply to your investment. The example is useful in making comparisons because the Securities and Exchange Commission requires all mutual funds to calculate expenses based on a 5% return. You can assess your fund’s costs by comparing this hypothetical example with the hypothetical examples that appear in shareholder reports of other funds.

Note that the expenses shown in the table are meant to highlight and help you compare ongoing costs only and do not reflect transaction costs incurred by the fund for buying and selling securities. Further, the expenses do not include the account service fee described in the prospectus. If such a fee were applied to your account, your costs would be higher. Your fund does not charge transaction fees, such as purchase or redemption fees, nor does it carry a “sales load.” The calculations assume no shares were bought or sold during the period. Your actual costs may have been higher or lower, depending on the amount of your investment and the timing of any purchases or redemptions.

You can find more information about the fund’s expenses, including annual expense ratios, in the Financial Statements section of this report. For additional information on operating expenses and other shareholder costs, please refer to your fund’s current prospectus.

31


Six Months Ended December 31, 2009       
  Beginning  Ending  Expenses 
  Account Value  Account Value  Paid During 
500 Index Fund  6/30/2009  12/31/2009  Period 
Based on Actual Fund Return       
Investor Shares  $1,000.00  $1,225.57  $1.01 
Admiral Shares  1,000.00  1,226.19  0.28 
Signal Shares  1,000.00  1,226.22  0.28 
Based on Hypothetical 5% Yearly Return       
Investor Shares  $1,000.00  $1,024.30  $0.92 
Admiral Shares  1,000.00  1,024.95  0.26 
Signal Shares  1,000.00  1,024.95  0.26 

The calculations are based on expenses incurred in the most recent six-month period. The fund’s annualized six-month expense ratios for the period are 0.18% for Investor Shares, 0.05% for Admiral Shares, and 0.05% for Signal Shares. The dollar amounts shown as “Expenses Paid” are equal to the annualized expense ratio multiplied by the average account value over the period, multiplied by the number of days in the most recent six-month period, then divided by the number of days in the most recent 12-month period.

32


Glossary

30-Day SEC Yield. A fund’s 30-day SEC yield is derived using a formula specified by the U.S. Securities and Exchange Commission. Under the formula, data related to the fund’s security holdings in the previous 30 days are used to calculate the fund’s hypothetical net income for that period, which is then annualized and divided by the fund’s estimated average net assets over the calculation period. For the purposes of this calculation, a security’s income is based on its current market yield to maturity (in the case of bonds) or its projected dividend yield (for stocks). Because the SEC yield represents hypothetical annualized income, it will differ—at times significantly—from the fund’s actual experience. As a result, the fund’s income distributions may be higher or lower than implied by the SEC yield.

Beta. A measure of the magnitude of a fund’s past share-price fluctuations in relation to the ups and downs of a given market index. The index is assigned a beta of 1.00. Compared with a given index, a fund with a beta of 1.20 typically would have seen its share price rise or fall by 12% when the index rose or fell by 10%. For this report, beta is based on returns over the past 36 months for both the fund and the index. Note that a fund’s beta should be reviewed in conjunction with its R-squared (see definition). The lower the R-squared, the less correlation there is between the fund and the index, and the less reliable beta is as an indicator of volatility.

Dividend Yield. Dividend income earned by stocks, expressed as a percentage of the aggregate market value (or of net asset value, for a fund). The yield is determined by dividing the amount of the annual dividends by the aggregate value (or net asset value) at the end of the period. For a fund, the dividend yield is based solely on stock holdings and does not include any income produced by other investments.

Earnings Growth Rate. The average annual rate of growth in earnings over the past five years for the stocks now in a fund.

Equity Exposure. A measure that reflects a fund’s investments in stocks and stock futures. Any holdings in short-term reserves are excluded.

Expense Ratio. The percentage of a fund’s average net assets used to pay its annual administrative and advisory expenses. These expenses directly reduce returns to investors.

Foreign Holdings. The percentage of a fund represented by stocks or depositary receipts of companies based outside the United States.

Inception Date. The date on which the assets of a fund (or one of its share classes) are first invested in accordance with the fund’s investment objective. For funds with a subscription period, the inception date is the day after that period ends. Investment performance is measured from the inception date.

Median Market Cap. An indicator of the size of companies in which a fund invests; the midpoint of market capitalization (market price x shares outstanding) of a fund’s stocks, weighted by the proportion of the fund’s assets invested in each stock. Stocks representing half of the fund’s assets have market capitalizations above the median, and the rest are below it.

Price/Book Ratio. The share price of a stock divided by its net worth, or book value, per share. For a fund, the weighted average price/book ratio of the stocks it holds.

33


Price/Earnings Ratio. The ratio of a stock’s current price to its per-share earnings over the past year. For a fund, the weighted average P/E of the stocks it holds. P/E is an indicator of market expectations about corporate prospects; the higher the P/E, the greater the expectations for a company’s future growth.

R-Squared. A measure of how much of a fund’s past returns can be explained by the returns from the market in general, as measured by a given index. If a fund’s total returns were precisely synchronized with an index’s returns, its R-squared would be 1.00. If the fund’s returns bore no relationship to the index’s returns, its R-squared would be 0. For this report, R-squared is based on returns over the past 36 months for both the fund and the index.

Return on Equity. The annual average rate of return generated by a company during the past five years for each dollar of shareholder’s equity (net income divided by shareholder’s equity). For a fund, the weighted average return on equity for the companies whose stocks it holds.

Short-Term Reserves. The percentage of a fund invested in highly liquid, short-term securities that can be readily converted to cash.

Turnover Rate. An indication of the fund’s trading activity. Funds with high turnover rates incur higher transaction costs and may be more likely to distribute capital gains (which may be taxable to investors). The turnover rate excludes in-kind transactions, which have minimal impact on costs.

34


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The People Who Govern Your Fund

The trustees of your mutual fund are there to see that the fund is operated and managed in your best interests since, as a shareholder, you are a part owner of the fund. Your fund’s trustees also serve on the board of directors of The Vanguard Group, Inc., which is owned by the Vanguard funds and provides services to them on an at-cost basis.

A majority of Vanguard’s board members are independent, meaning that they have no affiliation with Vanguard or the funds they oversee, apart from the sizable personal investments they have made as private individuals. The independent board members have distinguished backgrounds in business, academia, and public service. Each of the trustees and executive officers oversees 163 Vanguard funds.

The following table provides information for each trustee and executive officer of the fund. More information about the trustees is in the Statement of Additional Information, which can be obtained, without charge, by contacting Vanguard at 800-662-7447, or online at www.vanguard.com.

Interested Trustee1  Rajiv L. Gupta 
  Born 1945. Trustee Since December 2001.2 Principal 
F. William McNabb III  Occupation(s) During the Past Five Years: Chairman 
Born 1957. Trustee Since July 2009. Chairman of the  and Chief Executive Officer (retired 2009) and President 
Board. Principal Occupation(s) During the Past Five  (2006–2008) of Rohm and Haas Co. (chemicals); Board 
Years: Chairman of the Board of The Vanguard Group,  Member of American Chemistry Council; Director of 
Inc., and of each of the investment companies served  Tyco International, Ltd. (diversified manufacturing and 
by The Vanguard Group, since January 2010; Director of  services) and Hewlett-Packard Co. (electronic computer 
The Vanguard Group since 2008; Chief Executive Officer  manufacturing); Trustee of The Conference Board. 
and President of The Vanguard Group and of each of the   
investment companies served by The Vanguard Group  Amy Gutmann 
since 2008; Director of Vanguard Marketing Corporation;  Born 1949. Trustee Since June 2006. Principal 
Managing Director of The Vanguard Group (1995–2008).  Occupation(s) During the Past Five Years: President of 
  the University of Pennsylvania; Christopher H. Browne 
  Distinguished Professor of Political Science in the School 
Independent Trustees  of Arts and Sciences with secondary appointments 
  at the Annenberg School for Communication and the 
Emerson U. Fullwood  Graduate School of Education of the University of 
Born 1948. Trustee Since January 2008. Principal  Pennsylvania; Director of Carnegie Corporation of 
Occupation(s) During the Past Five Years: Executive  New York, Schuylkill River Development Corporation, 
Chief Staff and Marketing Officer for North America  and Greater Philadelphia Chamber of Commerce; 
and Corporate Vice President (retired 2008) of Xerox  Trustee of the National Constitution Center. 
Corporation (photocopiers and printers); Director of   
SPX Corporation (multi-industry manufacturing), the   
United Way of Rochester, the Boy Scouts of America,   
Amerigroup Corporation (direct health and medical   
insurance carriers), and Monroe Community College   
Foundation.   


JoAnn Heffernan Heisen  Executive Officers   
Born 1950. Trustee Since July 1998. Principal     
Occupation(s) During the Past Five Years: Corporate  Thomas J. Higgins   
Vice President and Chief Global Diversity Officer since  Born 1957. Chief Financial Officer Since September 
2006 (retired 2008) and Member of the Executive  2008. Principal Occupation(s) During the Past Five 
Committee (retired 2008) of Johnson & Johnson  Years: Principal of The Vanguard Group, Inc.; Chief 
(pharmaceuticals/consumer products); Vice President  Financial Officer of each of the investment companies 
and Chief Information Officer of Johnson & Johnson  served by The Vanguard Group since 2008; Treasurer 
(1997–2005); Director of the University Medical Center  of each of the investment companies served by The 
at Princeton and Women’s Research and Education  Vanguard Group (1998–2008). 
Institute; Member of the Advisory Board of the Maxwell     
School of Citizenship and Public Affairs at Syracuse  Kathryn J. Hyatt   
University.  Born 1955. Treasurer Since November 2008. Principal 
  Occupation(s) During the Past Five Years: Principal of 
F. Joseph Loughrey  The Vanguard Group, Inc.; Treasurer of each of the 
Born 1949. Trustee Since October 2009. Principal  investment companies served by The Vanguard 
Occupation(s) During the Past Five Years: President and  Group since 2008; Assistant Treasurer of each of the 
Chief Operating Officer since 2005 (retired 2009) and  investment companies served by The Vanguard Group 
Vice Chairman of the Board (2008–2009) of Cummins  (1988–2008).   
Inc. (industrial machinery); Director of SKF AB (industrial     
machinery), Hillenbrand, Inc. (specialized consumer  Heidi Stam   
services), Sauer-Danfoss Inc. (machinery), the Lumina  Born 1956. Secretary Since July 2005. Principal 
Foundation for Education, and the Columbus Community  Occupation(s) During the Past Five Years: Managing 
Education Coalition; Chairman of the Advisory Council  Director of The Vanguard Group, Inc., since 2006; 
for the College of Arts and Letters at the University of  General Counsel of The Vanguard Group since 2005; 
Notre Dame.  Secretary of The Vanguard Group and of each of the 
  investment companies served by The Vanguard Group 
André F. Perold  since 2005; Director and Senior Vice President of 
Born 1952. Trustee Since December 2004. Principal  Vanguard Marketing Corporation since 2005; Principal 
Occupation(s) During the Past Five Years: George Gund  of The Vanguard Group (1997–2006). 
Professor of Finance and Banking, Harvard Business     
School; Chair of the Investment Committee of HighVista     
Strategies LLC (private investment firm).  Vanguard Senior Management Team 
 
Alfred M. Rankin, Jr.  R. Gregory Barton  Michael S. Miller 
Born 1941. Trustee Since January 1993. Principal  Mortimer J. Buckley  James M. Norris 
Occupation(s) During the Past Five Years: Chairman,  Kathleen C. Gubanich  Glenn W. Reed 
President, and Chief Executive Officer of NACCO  Paul A. Heller  George U. Sauter 
Industries, Inc. (forklift trucks/housewares/lignite);     
Director of Goodrich Corporation (industrial products/     
aircraft systems and services); Deputy Chairman of  Chairman Emeritus and Senior Advisor 
the Federal Reserve Bank of Cleveland; Trustee of     
University Hospitals of Cleveland, The Cleveland  John J. Brennan   
Museum of Art, and Case Western Reserve University.  Chairman, 1996–2009   
  Chief Executive Officer and President, 1996–2008 
Peter F. Volanakis     
Born 1955. Trustee Since July 2009. Principal     
Occupation(s) During the Past Five Years: President   
since 2007 and Chief Operating Officer since 2005  Founder  
of Corning Incorporated (communications equipment);  John C. Bogle   
President of Corning Technologies (2001–2005); Director  Chairman and Chief Executive Officer, 1974–1996 
of Corning Incorporated and Dow Corning; Trustee of     
the Corning Incorporated Foundation and the Corning     
Museum of Glass; Overseer of the Amos Tuck School     
of Business Administration at Dartmouth College.     

1 Mr. McNabb is considered an “interested person,” as defined in the Investment Company Act of 1940, because he is an officer of the
Vanguard funds.
2 December 2002 for Vanguard Equity Income Fund, Vanguard Growth Equity Fund, the Vanguard Municipal Bond Funds, and the Vanguard
State Tax-Exempt Funds.


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with the offering of shares of any Vanguard   
fund only if preceded or accompanied by   
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All comparative mutual fund data are from Lipper Inc. or   
Morningstar, Inc., unless otherwise noted.   
 
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guidelines by visiting our website, www.vanguard.com,   
and searching for “proxy voting guidelines,” or by calling   
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available from the SEC’s website, www.sec.gov. In   
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voted the proxies for securities it owned during the 12   
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You can review and copy information about your fund at   
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find out more about this public service, call the SEC at   
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Vanguard U.S. Stock Index Funds 
Small-Capitalization Portfolios 
Annual Report 
December 31, 2009 

Vanguard Small-Cap Index Fund
Vanguard Small-Cap Growth Index Fund
Vanguard Small-Cap Value Index Fund 


> Vanguard’s small-capitalization index funds registered strong double-digit

returns for 2009, in sharp contrast to the double-digit losses they posted

for 2008.

> The returns of small-company growth stocks outpaced those of small-company

value stocks.

> The upswing in the funds’ returns was led by information technology and

consumer discretionary stocks.

Contents   
Your Fund’s Total Returns.  1 
Chairman’s Letter.  4 
Results of Proxy Voting.  10 
Small-Cap Index Fund.  12 
Small-Cap Growth Index Fund.  32 
Small-Cap Value Index Fund.  48 
Your Fund’s After-Tax Returns.  66 
About Your Fund’s Expenses.  67 
Glossary.  69 


 

Small-Cap Index Fund
Small-Cap Growth Index Fund
Small-Cap Value Index Fund

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 Small-Cap Index Fund   
Investor Shares  36.12% 
Admiral™ Shares  36.33 
Signal® Shares  36.34 
Institutional Shares  36.40 
ETF Shares   
Market Price  36.76 
Net Asset Value  36.31 
MSCI US Small Cap 1750 Index  36.15 
Small-Cap Core Funds Average  31.41 
Small-Cap Core Funds Average: Derived from data provided by Lipper Inc.   
Vanguard Small-Cap Growth Index Fund   
Investor Shares  41.85% 
Institutional Shares  42.13 
ETF Shares   
Market Price  42.33 
Net Asset Value  42.02 
MSCI US Small Cap Growth Index  41.97 
Small-Cap Growth Funds Average  35.83 

Small-Cap Growth 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. Institutional Shares are available for a minimum initial investment of $5 million. These Vanguard ETF Shares are traded on the NYSE Arca exchange and are available only through brokers. The table shows the ETF returns based on both the NYSE Arca market price and the net asset value for a share. U.S. Pat. No. 6,879,964 B2; 7,337,138.

1


Your Fund’s Total Returns

Fiscal Year Ended December 31, 2009   
  Total 
  Returns 
Vanguard Small-Cap Value Index Fund   
Investor Shares  30.34% 
Institutional Shares  30.71 
ETF Shares   
Market Price  31.10 
Net Asset Value  30.52 
MSCI US Small Cap Value Index  30.29 
Small-Cap Value Funds Average  31.80 
Small-Cap Value 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. Institutional Shares are available for a minimum initial investment of $5 million. These Vanguard ETF Shares are traded on the NYSE Arca exchange and are available only through brokers. The table shows the ETF returns based on both the NYSE Arca market price and the net asset value for a share. U.S. Pat. No. 6,879,964 B2; 7,337,138.


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 Small-Cap Index Fund         
Investor Shares  $20.40  $27.49  $0.276  $0.000 
Admiral Shares  20.40  27.50  0.308  0.000 
Signal Shares  18.39  24.79  0.279  0.000 
Institutional Shares  20.40  27.50  0.322  0.000 
ETF Shares  42.60  57.41  0.658  0.000 
Vanguard Small-Cap Growth Index Fund         
Investor Shares  $11.90  $16.83  $0.049  $0.000 
Institutional Shares  11.91  16.85  0.076  0.000 
ETF Shares  42.32  59.86  0.240  0.000 
Vanguard Small-Cap Value Index Fund         
Investor Shares  $10.21  $13.06  $0.245  $0.000 
Institutional Shares  10.22  13.09  0.266  0.000 
ETF Shares  42.58  54.49  1.084  0.000 

3



Chairman’s Letter

Dear Shareholder,

The rebound from the deepest bear market in over 75 years started in March 2009 and continued through year-end. Small-capitalization stocks led the broad market higher, and the three Vanguard small-cap funds, as usual, closely tracked their respective target indexes.

The Small-Cap Growth Index Fund was the best performer, returning about 42%. The Small-Cap Value Index Fund was the laggard, returning “only” about 30%. Between these results was the performance of the broader-based Small-Cap Index Fund, which returned about 36%; this could be expected, since the fund covers both the growth and value segments of the small-cap market.

All three funds recorded their highest returns overall since 2003. The results set record highs for the funds’ ETF Shares, which began operations a year later.

The Small-Cap Index and Small-Cap Growth Index Funds bested their peer-group averages by about 5 and 6 percentage points, respectively, while the Small-Cap Value Index Fund fell a few steps behind.

4


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.

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 final 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

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% 

5


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.

For stocks and small-cap funds, 2009 was a story in three parts

You can view the 2009 equity markets in terms of three distinct periods, each marked by a sharp and sudden swing in performance.

Stocks tumbled in the first quarter, as investors remained worried about possible company failures and the impact of federal government takeovers. Stocks then rallied furiously through the second and third quarters as the economic storm clouds began to part. Lower-quality stocks—those with shakier finances—did especially well. In the year’s final months, the rally moderated as investors seemed to become

Expense Ratios             
Your Fund Compared With Its Peer Group             
            Peer 
  Investor  Admiral  Signal  Institutional  ETF  Group 
  Shares  Shares  Shares  Shares  Shares  Average 
Small-Cap Index Fund  0.28%  0.15%  0.15%  0.09%  0.15%  1.43% 
Small-Cap Growth Index Fund  0.28  —  —  0.09  0.15  1.61 
Small-Cap Value Index Fund  0.28  —  —  0.09  0.15  1.52 

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 funds’ net assets as of the prospectus date. For the fiscal year ended December 31, 2009, the expense ratios were: for the Small-Cap Index Fund, 0.28% for Investor Shares, 0.14% for Admiral Shares, 0.14% for Signal Shares, 0.08% for Institutional Shares, and 0.14% for ETF Shares; for the Small-Cap Growth Index Fund, 0.28% for Investor Shares, 0.08% for Institutional Shares, and 0.14% for ETF Shares; and for the Small-Cap Value Index Fund, 0.28% for Investor Shares, 0.08% for Institutional Shares, and 0.14% for ETF Shares.  The peer-group expense ratios are derived from data provided by Lipper Inc. and capture information through year-end 2008.

Peer groups are: for the Small-Cap Index Fund, Small-Cap Core Funds; for the Small-Cap Growth Index Fund, Small-Cap Growth Funds; and for the Small-Cap Value Index Fund, Small-Cap Value Funds.

6


more discerning in their search for value by focusing on companies with seemingly reliable prospects for earnings growth and a healthy return on equity.

Returns for the funds reflected generally strong performance across the small-cap market. In sharp contrast to prior-year

results, in which every sector recorded a large negative return, every sector reported a positive outcome in 2009.

The most significant contributors to the growth and value funds’ returns were their holdings in the information technology and consumer discretionary sectors. These two sectors contributed about one-half

Total Returns   
Ten Years Ended December 31, 2009   
  Average 
  Annual Return 
Small-Cap Index Fund Investor Shares  4.35% 
Spliced Small-Cap Index  4.20 
Small-Cap Core Funds Average  4.68 
Spliced Small-Cap Index: Russell 2000 Index through May 16, 2003; MSCI US Small Cap 1750 Index thereafter.
Small-Cap Core Funds Average: Derived from data provided by Lipper Inc.

Small-Cap Growth Index Fund Investor Shares  4.84% 
Spliced Small-Cap Growth Index  4.64 
Small-Cap Growth Funds Average  -0.91 
Spliced Small-Cap Growth Index: S&P SmallCap 600/Barra Growth Index through May 16, 2003; MSCI US Small Cap Growth Index thereafter. 
Small-Cap Growth Funds Average: Derived from data provided by Lipper Inc.

Small-Cap Value Index Fund Investor Shares  7.69% 
Spliced Small-Cap Value Index  7.44 
Small-Cap Value Funds Average  7.76 
Spliced Small-Cap Value Index: S&P SmallCap 600/Barra Value Index through May 16, 2003; MSCI US Small Cap Value Index thereafter. 
Small-Cap Value 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.

7


the return of the Small-Cap Value Index Fund and almost two-thirds of the return of the Small-Cap Growth Index Fund. Driving their performance were the stocks of companies in industries such as semiconductor and semiconductor equipment manufacturing, software development, retailing, and media.

Less important, but still significant, contributors to return were energy and financial sector stocks for the Small-Cap Growth Index Fund, and materials and industrial sector stocks for the Small-Cap Value Index Fund. Health care stocks boosted returns for both funds, but to different degrees.

A step back can enhance perspective on performance

It’s important to step back from volatile years like 2008 and 2009 to see how a fund is performing over the long term. In our view, this is the best way to invest, because it allows you to filter out short-term noise and fleeting market trends.

For the ten years ended December 31, 2009, the return of each of the funds has been slightly ahead of its benchmark. The funds’ 10-year returns have either been competitive with the average return of peer-group funds or, in the case of the growth fund, far in excess of the average.

The funds’ longer-term results reflect the expertise of the funds’ advisor, Vanguard Quantitative Equity Group. The group’s

long-tenured professionals have developed portfolio construction and management strategies to help them keep the funds in line with their benchmarks through a variety of market environments. The advisor’s skills and proprietary systems have served shareholders well in capturing the return of the market, whether it’s the broad market or a slice of it.

Diversification can be a key tool to help control your portfolio

No one knows what 2010 will bring. The unpredictability of the stock market was abundantly clear in both the depths of 2008 and then the timing and pace of the spectacular bounceback in 2009.

While we can’t control the markets or the economy, we can control how we react to the market’s inevitable volatility and shifts in performance from one style or sector to another. We can do so by diversifying among asset classes, such as stocks, bonds, and money market investments. It is just as important, however, to diversify within these asset groups—for example, between growth and value stocks, and among large-, mid-, and small-capitalization stocks. Vanguard’s small-cap index funds can help you achieve this level of diversification.

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

8


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 14, 2010


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.

Small-Cap Index Fund, Small-Cap Growth Index Fund, Small-Cap Value Index Fund

      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 
Small-Cap Index Fund           
2a  270,842,042  5,830,129  9,332,243  37,201,253  83.8% 
2b  269,851,552  6,190,294  9,962,565  37,201,257  83.5% 
2c  267,057,577  5,912,970  13,033,864  37,201,257  82.6% 
2d  264,498,095  5,983,041  15,523,273  37,201,258  81.8% 
2e  264,780,989  5,885,536  15,337,882  37,201,260  81.9% 
2f  266,591,161  5,871,199  13,542,051  37,201,257  82.5% 
2g  269,974,453  5,982,393  10,047,554  37,201,267  83.5% 

10


        Broker  Percentage 
Vanguard Fund  For  Abstain  Against  Non-Votes  For 
Small-Cap Growth Index Fund           
2a  112,657,941  2,877,222  2,305,877  21,832,086  80.7% 
2b  112,449,691  3,124,519  2,266,823  21,832,093  80.5% 
2c  107,237,371  2,928,182  7,675,482  21,832,091  76.8% 
2d  112,058,302  2,962,531  2,820,205  21,832,088  80.2% 
2e  112,051,124  2,951,027  2,838,884  21,832,091  80.2% 
2f  112,516,948  2,921,014  2,403,074  21,832,090  80.6% 
2g  112,597,019  2,853,244  2,390,770  21,832,093  80.6% 
 
Small-Cap Value Index Fund           
2a  175,641,096  4,319,633  7,819,313  19,072,172  84.9% 
2b  175,072,475  4,888,545  7,819,022  19,072,173  84.6% 
2c  167,961,390  4,686,298  15,132,354  19,072,173  81.2% 
2d  174,202,545  4,666,800  8,910,695  19,072,174  84.2% 
2e  174,075,864  4,521,801  9,182,380  19,072,170  84.2% 
2f  175,136,454  4,497,421  8,146,170  19,072,169  84.7% 
2g  176,031,469  4,661,339  7,087,234  19,072,173  85.1% 

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 
Small-Cap Growth Index Fund  15,807,481  4,948,497  97,090,186  21,826,962  11.3% 

11


Small-Cap Index Fund

Fund Profile

As of December 31, 2009

Share-Class Characteristics           
  Investor  Admiral  Signal  Institutional  ETF 
  Shares  Shares  Shares  Shares  Shares 
Ticker Symbol  NAESX  VSMAX  VSISX  VSCIX  VB 
Expense Ratio1  0.28%  0.15%  0.15%  0.09%  0.15% 
30-Day SEC Yield  1.31%  1.46%  1.45%  1.49%  1.45% 

Portfolio Characteristics     
      DJ 
    MSCI US  U.S. Total 
    Small Cap  Market 
  Fund 1750 Index  Index 
Number of Stocks  1,748  1,743  4,201 
Median Market Cap  $1.3B  $1.3B  $30.7B 
Price/Book Ratio  1.8x  1.8x  2.1x 
Return on Equity  10.9%  10.9%  19.3% 
Earnings Growth Rate  5.0%  5.0%  8.1% 
Dividend Yield  1.3%  1.3%  1.8% 
Foreign Holdings  0.0%  0.0%  0.0% 
Turnover Rate  14%  —  — 
Short-Term Reserves  0.1%  —  — 

Volatility Measures     
    DJ 
  MSCI US  U.S. Total 
  Small Cap  Market 
  1750 Index  Index 
R-Squared  1.00  0.93 
Beta  1.00  1.23 

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) 
Human Genome Sciences Inc. Biotechnology   0.4%
Whiting Petroleum Corp.  Oil & Gas Exploration & Production 0.3 
Rovi Corp.  Systems Software  0.3 
Oshkosh Corp.  Construction & Farm Machinery &  Heavy Trucks 0.3 
MSCI Inc. Class A  Specialized Finance  0.2 
3Com Corp.  Communications Equipment 0.2 
Tupperware Brands Corp.  Housewares & Specialties 0.2 
Green Mountain Coffee Roasters Inc. Packaged Foods & Meats 0.2 
Corrections Corp. of America Security & Alarm Services 0.2 
AGL Resources Inc.  Gas Utilities  0.2 
Top Ten    2.5% 

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

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 0.28% for
Investor Shares, 0.14% for Admiral Shares, 0.14% for Signal Shares, 0.08% for Institutional Shares, and 0.14% for ETF Shares.

12


Small-Cap Index Fund

Sector Diversification (% of equity exposure)

      DJ 
    MSCI US  U.S. Total 
    Small Cap  Market 
  Fund 1750 Index  Index 
Consumer       
Discretionary  14.6%  14.6%  10.3% 
Consumer Staples  3.6  3.6  9.9 
Energy  6.1  6.1  10.6 
Financials  19.9  19.9  16.0 
Health Care  12.0  12.0  12.6 
Industrials  16.1  16.1  10.6 
Information       
Technology  17.6  17.6  19.3 
Materials  5.4  5.4  4.0 
Telecommunication       
Services  1.0  1.0  2.9 
Utilities  3.7  3.7  3.8 

Investment Focus


13


Small-Cap 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 
  Small-Cap Index Fund Investor Shares  36.12%  1.79%  4.35%  $15,315 
••••••••  Dow Jones U.S. Total Stock Market         
  Index  29.35  1.09  -0.17  9,828 
 
 
Small-Cap Spliced Index 31.41 0.12 4.68 15,797
– – – –   Small-Cap Core Funds Average  36.15  1.81   4.20  15,092 

Spliced Small-Cap Index: Russell 2000 Index through May 16, 2003; MSCI US Small Cap 1750 Index thereafter.

Small-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 
Small-Cap Index Fund Admiral         
Shares  36.33%  1.91%  5.40%  $161,596 
Dow Jones U.S. Total Stock Market         
Index  29.35  1.09  0.79  107,434 
Spliced Small-Cap Index  36.15  1.81  5.16  158,280 

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.

14


Small-Cap Index Fund

    Since  Final Value 
  One  Inception  of a $1,000,000 
  Year  (12/15/2006)  Investment 
Small-Cap Index Fund Signal Shares  36.34%  -4.25%  $876,273 
Dow Jones U.S. Total Stock Market       
Index  29.35  -5.14  851,725 
MSCI US Small Cap 1750 Index  36.15  -4.40  871,958 

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

        Final Value 
  One  Five  Ten  of a $5,000,000 
  Year  Years  Years  Investment 
Small-Cap Index Fund Institutional         
Shares  36.40%  1.96%  4.52%  $7,779,658 
Dow Jones U.S. Total Stock Market         
Index  29.35  1.09  -0.17  4,913,789 
Spliced Small-Cap Index  36.15  1.81  4.20  7,545,968 

      Since  Final Value 
  One  Five  Inception  of a $10,000 
  Year  Years  (1/26/2004)  Investment 
Small-Cap Index Fund         
ETF Shares Net Asset Value  36.31%  1.93%  3.57%  $12,312 
Dow Jones U.S. Total Stock Market Index  29.35  1.09  2.20  11,376 
MSCI US Small Cap 1750 Index  36.15  1.81  3.48  12,246 

Performance for the fund’s ETF Shares and comparative standards is calculated since the ETF Shares’ inception.
For more information about how the ETF Shares' market prices have compared with their net asset value, visit www.vanguard.com, select
your ETF, and then select the Performance tab. The Premium/Discount table there shows the percentages of days on which the ETF Shares'
market price was above or below the NAV.

Cumulative Returns of ETF Shares: January 26, 2004, Through December 31, 2009

  One  Five  Since 
  Year  Years  Inception 
Small-Cap Index Fund       
ETF Shares Market Price  36.76%  10.15%  23.01% 
Small-Cap Index Fund       
ETF Shares Net Asset Value  36.31  10.02  23.12 
MSCI US Small Cap 1750 Index  36.15  9.39  22.46 

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

15


Small-Cap Index Fund

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.

16


Small-Cap Index Fund

Financial Statements

Statement of Net Assets—Investments Summary
As of December 31, 2009

This Statement summarizes the fund’s holdings by asset type. Details are reported for each of the fund’s 50 largest individual holdings and for investments that, in total for any issuer, represent more than 1% of the fund’s net assets. The total value of smaller holdings is reported as a single amount within each category.

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 complete listing of the fund’s holdings is available electronically on Vanguard.com and on the Securities and Exchange Commission’s website (www.sec.gov), or you can have it mailed to you without charge by calling 800-662-7447. For the first and third fiscal quarters, the fund files the lists with the SEC on Form N-Q. Shareholders can look up the fund’s Forms N-Q on the SEC’s website. 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  Percentage 
    Value•  of Net 
  Shares  ($000)  Assets 
Common Stocks       
Consumer Discretionary       
Tupperware Brands Corp.  849,585  39,565  0.2% 
Jarden Corp.  1,193,752  36,899  0.2% 
* DreamWorks Animation SKG Inc. Class A  914,241  36,524  0.2% 
* Chico’s FAS Inc.  2,391,877  33,606  0.2% 
Gentex Corp.  1,858,411  33,173  0.2% 
RadioShack Corp.  1,688,840  32,932  0.2% 
Consumer Discretionary—Other †    2,307,982  13.4% 
    2,520,681  14.6% 
Consumer Staples       
* Green Mountain Coffee Roasters Inc.  469,354  38,238  0.2% 
Herbalife Ltd.  832,161  33,761  0.2% 
Consumer Staples—Other †    553,333  3.2% 
    625,332  3.6% 
Energy       
* Whiting Petroleum Corp.  685,882  49,006  0.3% 
Core Laboratories NV  294,329  34,766  0.2% 
Southern Union Co.  1,506,356  34,194  0.2% 
* Encore Acquisition Co.  711,926  34,187  0.2% 
Energy—Other †    895,495  5.2% 
    1,047,648  6.1% 
Financials       
* MSCI Inc. Class A  1,350,974  42,961  0.2% 
Alexandria Real Estate Equities Inc.  585,944  37,670  0.2% 
Senior Housing Properties Trust  1,712,870  37,461  0.2% 
Assured Guaranty Ltd.  1,705,026  37,101  0.2% 
Camden Property Trust  865,157  36,657  0.2% 
Mack-Cali Realty Corp.  1,056,815  36,534  0.2% 
Waddell & Reed Financial Inc.  1,158,647  35,385  0.2% 
First Niagara Financial Group Inc.  2,470,506  34,365  0.2% 
* AmeriCredit Corp.  1,798,262  34,239  0.2% 

17


Small-Cap Index Fund

      Market  Percentage 
      Value•  of Net 
    Shares  ($000)  Assets 
  Jones Lang LaSalle Inc.  563,597  34,041  0.2% 
  Chimera Investment Corp.  8,590,495  33,331  0.2% 
  Financials—Other †    3,045,306  17.7% 
      3,445,051  19.9% 
Health Care       
*  Human Genome Sciences Inc.  2,435,566  74,528  0.4% 
*  Mednax Inc.  625,639  37,607  0.2% 
*  Tenet Healthcare Corp.  6,490,986  34,986  0.2% 
*  United Therapeutics Corp.  645,536  33,987  0.2% 
*  Valeant Pharmaceuticals International  1,041,170  33,099  0.2% 
  Health Care—Other †    1,848,264  10.7% 
      2,062,471  11.9% 
Industrials       
  Oshkosh Corp.  1,179,764  43,687  0.3% 
*  Corrections Corp. of America  1,553,982  38,150  0.2% 
*  Waste Connections Inc.  1,080,622  36,028  0.2% 
  IDEX Corp.  1,089,012  33,923  0.2% 
*  Continental Airlines Inc. Class B  1,862,731  33,380  0.2% 
  Hubbell Inc. Class B  700,329  33,126  0.2% 
  Snap-On Inc.  778,612  32,904  0.2% 
  Industrials—Other †    2,518,098  14.5% 
      2,769,296  16.0% 
Information Technology       
*  Rovi Corp.  1,371,918  43,723  0.2% 
*  3Com Corp.  5,276,175  39,571  0.2% 
*  Itron Inc.  539,624  36,462  0.2% 
*  Varian Semiconductor Equipment Associates Inc.  989,231  35,494  0.2% 
*  MICROS Systems Inc.  1,084,720  33,659  0.2% 
*  CommScope Inc.  1,262,879  33,504  0.2% 
*,^  Rambus Inc.  1,344,565  32,807  0.2% 
*  Skyworks Solutions Inc.  2,309,352  32,770  0.2% 
  Information Technology—Other †    2,742,914  15.9% 
      3,030,904  17.5% 
Materials       
  Ashland Inc.  953,967  37,796  0.2% 
  RPM International Inc.  1,741,799  35,411  0.2% 
  Materials—Other †    856,181  5.0% 
      929,388  5.4% 
Telecommunication Services       
*  tw telecom inc Class A  2,013,452  34,511  0.2% 
  Telecommunication Services—Other †    139,772  0.8% 
      174,283  1.0% 
Utilities       
  AGL Resources Inc.  1,042,476  38,019  0.2% 
  Atmos Energy Corp.  1,244,917  36,601  0.2% 
  Great Plains Energy Inc.  1,823,993  35,367  0.2% 
  ITC Holdings Corp.  673,895  35,103  0.2% 
  Utilities—Other †    489,579  2.9% 
      634,669  3.7% 
Total Common Stocks (Cost $16,623,023)    17,239,723  99.7%1 

18


Small-Cap Index Fund

      Market  Percentage 
      Value•  of Net 
      ($000)  Assets 
Convertible Preferred Stocks         
Consumer Discretionary †      1,006  0.0% 
Total Convertible Preferred Stocks (Cost $1,214)      1,006  0.0% 
 
  Coupon  Shares     
Temporary Cash Investments         
Money Market Fund         
2,3 Vanguard Market Liquidity Fund  0.187%  362,130,342  362,130  2.1% 
 
4U.S. Government and Agency Obligations †      6,497  0.0% 
Total Temporary Cash Investments (Cost $364,630)      368,627  2.1%1 
Total Investments (Cost $16,988,867)      17,609,356  101.8% 
Other Assets and Liabilities         
Other Assets      209,951  1.2% 
Liabilities3      (528,386)  (3.0%) 
      (318,435)  (1.8%) 
Net Assets      17,290,921  100.0% 

19


Small-Cap Index Fund

At December 31, 2009, net assets consisted of:

  Amount 
  ($000) 
Paid-in Capital  18,903,819 
Overdistributed Net Investment Income  (22,852) 
Accumulated Net Realized Losses  (2,210,649) 
Unrealized Appreciation (Depreciation)   
Investment Securities  620,489 
Futures Contracts  114 
Net Assets  17,290,921 
 
Investor Shares—Net Assets   
Applicable to 215,099,667 outstanding $.001 par value shares of   
beneficial interest (unlimited authorization)  5,913,304 
Net Asset Value Per Share—Investor Shares  $27.49 
 
Admiral Shares—Net Assets   
Applicable to 72,458,133 outstanding $.001 par value shares of   
beneficial interest (unlimited authorization)  1,992,414 
Net Asset Value Per Share—Admiral Shares  $27.50 
 
Signal Shares—Net Assets   
Applicable to 71,147,377 outstanding $.001 par value shares of   
beneficial interest (unlimited authorization)  1,763,450 
Net Asset Value Per Share—Signal Shares  $24.79 
 
Institutional Shares—Net Assets   
Applicable to 151,314,440 outstanding $.001 par value shares of   
beneficial interest (unlimited authorization)  4,161,666 
Net Asset Value Per Share—Institutional Shares  $27.50 
 
ETF Shares—Net Assets   
Applicable to 60,271,946 outstanding $.001 par value shares of   
beneficial interest (unlimited authorization)  3,460,087 
Net Asset Value Per Share—ETF Shares  $57.41 

• 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 $265,570,000.
† Represents the aggregate value, by category, of securities that are not among the 50 largest holdings and, in total for any issuer, represent
1% or less of net assets.
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 1.8%, 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 $301,596,000 of collateral received for securities on loan.
4 Securities with a value of $6,497,000 have been segregated as initial margin for open futures contracts.
See accompanying Notes, which are an integral part of the Financial Statements.
20


Small-Cap Index Fund

Statement of Operations

  Year Ended 
  December 31, 2009 
  ($000) 
Investment Income   
Income   
Dividends  178,849 
Interest1  383 
Security Lending  21,202 
Total Income  200,434 
Expenses   
The Vanguard Group—Note B   
Investment Advisory Services  473 
Management and Administrative—Investor Shares  10,851 
Management and Administrative—Admiral Shares  1,665 
Management and Administrative—Signal Shares  1,342 
Management and Administrative—Institutional Shares  1,332 
Management and Administrative—ETF Shares  1,601 
Marketing and Distribution—Investor Shares  1,172 
Marketing and Distribution—Admiral Shares  327 
Marketing and Distribution—Signal Shares  388 
Marketing and Distribution—Institutional Shares  853 
Marketing and Distribution—ETF Shares  471 
Custodian Fees  753 
Auditing Fees  30 
Shareholders’ Reports and Proxies—Investor Shares  525 
Shareholders’ Reports and Proxies—Admiral Shares  24 
Shareholders’ Reports and Proxies—Signal Shares  41 
Shareholders’ Reports and Proxies—Institutional Shares  16 
Shareholders’ Reports and Proxies—ETF Shares  221 
Trustees’ Fees and Expenses  25 
Total Expenses  22,110 
Net Investment Income  178,324 
Realized Net Gain (Loss)   
Investment Securities Sold  (448,930) 
Futures Contracts  14,967 
Realized Net Gain (Loss)  (433,963) 
Change in Unrealized Appreciation (Depreciation)   
Investment Securities  4,483,721 
Futures Contracts  (4,142) 
Change in Unrealized Appreciation (Depreciation)  4,479,579 
Net Increase (Decrease) in Net Assets Resulting from Operations  4,223,940 

1 Interest income from an affiliated company of the fund was $317,000.
See accompanying Notes, which are an integral part of the Financial Statements.

21


Small-Cap 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  178,324  207,580 
Realized Net Gain (Loss)  (433,963)  530,712 
Change in Unrealized Appreciation (Depreciation)  4,479,579  (6,344,995) 
Net Increase (Decrease) in Net Assets Resulting from Operations  4,223,940  (5,606,703) 
Distributions     
Net Investment Income     
Investor Shares  (58,993)  (78,250) 
Admiral Shares  (22,117)  (30,066) 
Signal Shares  (19,496)  (24,267) 
Institutional Shares  (48,371)  (53,803) 
ETF Shares  (36,024)  (25,370) 
Realized Capital Gain     
Investor Shares  —  — 
Admiral Shares  —  — 
Signal Shares  —  — 
Institutional Shares  —  — 
ETF Shares  —  — 
Total Distributions  (185,001)  (211,756) 
Capital Share Transactions     
Investor Shares  372,313  168,313 
Admiral Shares  40,938  (11,036) 
Signal Shares  128,306  199,826 
Institutional Shares  603,547  429,108 
ETF Shares  1,671,490  598,110 
Net Increase (Decrease) from Capital Share Transactions  2,816,594  1,384,321 
Total Increase (Decrease)  6,855,533  (4,434,138) 
Net Assets     
Beginning of Period  10,435,388  14,869,526 
End of Period1  17,290,921  10,435,388 

1 Net Assets—End of Period includes undistributed (overdistributed) net investment income of ($22,852,000) and ($16,175,000).

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


Small-Cap Index Fund

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  $20.40  $32.58  $32.62  $28.52  $26.83 
Investment Operations           
Net Investment Income  .272  .398  .413  .357  .290 
Net Realized and Unrealized Gain (Loss)           
on Investments  7.094  (12.174)  (.041)  4.101  1.690 
Total from Investment Operations  7.366  (11.776)  .372  4.458  1.980 
Distributions           
Dividends from Net Investment Income  (.276)  (.404)  (.412)  (.358)  (.290) 
Distributions from Realized Capital Gains  —  —  —  —  — 
Total Distributions  (.276)  (.404)  (.412)  (.358)  (.290) 
Net Asset Value, End of Period  $27.49  $20.40  $32.58  $32.62  $28.52 
 
Total Return1  36.12%  -36.07%  1.16%  15.64%  7.36% 
 
Ratios/Supplemental Data           
Net Assets, End of Period (Millions)  $5,913  $4,050  $6,214  $6,808  $5,902 
Ratio of Total Expenses to           
Average Net Assets  0.28%  0.23%  0.22%  0.23%  0.23% 
Ratio of Net Investment Income to           
Average Net Assets  1.30%  1.49%  1.23%  1.18%  1.08% 
Portfolio Turnover Rate2  14%  14%  16%  13%  18% 

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,
including ETF Creation Units.

See accompanying Notes, which are an integral part of the Financial Statements.
23


Small-Cap Index Fund

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  $20.40  $32.59  $32.64  $28.53  $26.83 
Investment Operations           
Net Investment Income  .303  .426  .440  .395  .325 
Net Realized and Unrealized Gain (Loss)           
on Investments  7.105  (12.185)  (.040)  4.101  1.690 
Total from Investment Operations  7.408  (11.759)  .400  4.496  2.015 
Distributions           
Dividends from Net Investment Income  (.308)  (.431)  (.450)  (.386)  (.315) 
Distributions from Realized Capital Gains  —  —  —  —  — 
Total Distributions  (.308)  (.431)  (.450)  (.386)  (.315) 
Net Asset Value, End of Period  $27.50  $20.40  $32.59  $32.64  $28.53 
 
Total Return  36.33%  -36.00%  1.24%  15.77%  7.49% 
 
Ratios/Supplemental Data           
Net Assets, End of Period (Millions)  $1,992  $1,444  $2,325  $3,078  $2,382 
Ratio of Total Expenses to           
Average Net Assets  0.14%  0.12%  0.11%  0.13%  0.13% 
Ratio of Net Investment Income to           
Average Net Assets  1.44%  1.60%  1.34%  1.28%  1.18% 
Portfolio Turnover Rate1  14%  14%  16%  13%  18% 

1 Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares,
including ETF Creation Units.

See accompanying Notes, which are an integral part of the Financial Statements.
24


Small-Cap Index Fund

Financial Highlights

Signal Shares         
        Dec. 15, 
        20061 to 
  Year Ended December 31,  Dec. 31, 
For a Share Outstanding Throughout Each Period  2009  2008  2007  2006 
Net Asset Value, Beginning of Period  $18.39  $29.38  $29.42  $29.98 
Investment Operations         
Net Investment Income  .274  .385  .406  .004 
Net Realized and Unrealized Gain (Loss) on Investments  6.405  (10.985)  (.042)  (.251) 
Total from Investment Operations  6.679  (10.600)  .364  (.247) 
Distributions         
Dividends from Net Investment Income  (.279)  (.390)  (.404)  (.313) 
Distributions from Realized Capital Gains  —  —  —  — 
Total Distributions  (.279)  (.390)  (.404)  (.313) 
Net Asset Value, End of Period  $24.79  $18.39  $29.38  $29.42 
 
Total Return  36.34%  -36.00%  1.25%  -0.82% 
 
Ratios/Supplemental Data         
Net Assets, End of Period (Millions)  $1,763  $1,172  $1,625  $157 
Ratio of Total Expenses to Average Net Assets  0.14%  0.12%  0.11%  0.13%2 
Ratio of Net Investment Income to Average Net Assets  1.44%  1.60%  1.34%  1.28%2 
Portfolio Turnover Rate3  14%  14%  16%  13% 

1 Inception.
2 Annualized.
3 Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares,
including ETF Creation Units.

See accompanying Notes, which are an integral part of the Financial Statements.
25


Small-Cap Index Fund

Financial Highlights

Institutional Shares           
 
For a Share Outstanding  Year Ended December 31, 
Throughout Each Period  2009  2008  2007  2006  2005 
Net Asset Value, Beginning of Period  $20.40  $32.60  $32.65  $28.54  $26.84 
Investment Operations           
Net Investment Income  .316  .441  .457  .411  .343 
Net Realized and Unrealized Gain (Loss)           
on Investments  7.106  (12.196)  (.041)  4.101  1.690 
Total from Investment Operations  7.422  (11.755)  .416  4.512  2.033 
Distributions           
Dividends from Net Investment Income  (.322)  (.445)  (.466)  (.402)  (.333) 
Distributions from Realized Capital Gains  —  —  —  —  — 
Total Distributions  (.322)  (.445)  (.466)  (.402)  (.333) 
Net Asset Value, End of Period  $27.50  $20.40  $32.60  $32.65  $28.54 
 
Total Return  36.40%  -35.98%  1.29%  15.82%  7.56% 
 
Ratios/Supplemental Data           
Net Assets, End of Period (Millions)  $4,162  $2,545  $3,585  $3,107  $2,089 
Ratio of Total Expenses to           
Average Net Assets  0.08%  0.07%  0.07%  0.08%  0.08% 
Ratio of Net Investment Income to           
Average Net Assets  1.50%  1.65%  1.38%  1.33%  1.23% 
Portfolio Turnover Rate1  14%  14%  16%  13%  18% 

1 Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares,
including ETF Creation Units.

See accompanying Notes, which are an integral part of the Financial Statements.
26


Small-Cap Index Fund

Financial Highlights

ETF Shares           
 
For a Share Outstanding  Year Ended December 31, 
Throughout Each Period  2009  2008  2007  2006  2005 
Net Asset Value, Beginning of Period  $42.60  $68.07  $68.16  $59.59  $56.05 
Investment Operations           
Net Investment Income  .646  .910  .959  .836  .668 
Net Realized and Unrealized Gain (Loss)           
on Investments  14.822  (25.462)  (.093)  8.569  3.555 
Total from Investment Operations  15.468  (24.552)  .866  9.405  4.223 
Distributions           
Dividends from Net Investment Income  (.658)  (.918)  (.956)  (.835)  (.683) 
Distributions from Realized Capital Gains  —  —  —  —  — 
Total Distributions  (.658)  (.918)  (.956)  (.835)  (.683) 
Net Asset Value, End of Period  $57.41  $42.60  $68.07  $68.16  $59.59 
 
Total Return  36.31%  -35.99%  1.27%  15.79%  7.53% 
 
Ratios/Supplemental Data           
Net Assets, End of Period (Millions)  $3,460  $1,224  $1,121  $670  $265 
Ratio of Total Expenses to           
Average Net Assets  0.14%  0.10%  0.10%  0.10%  0.10% 
Ratio of Net Investment Income to           
Average Net Assets  1.44%  1.62%  1.35%  1.31%  1.20% 
Portfolio Turnover Rate1  14%  14%  16%  13%  18% 

1 Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares,
including ETF Creation Units.

See accompanying Notes, which are an integral part of the Financial Statements.
27


Small-Cap Index Fund

Notes to Financial Statements

Vanguard Small-Cap Index Fund is registered under the Investment Company Act of 1940 as an open-end investment company, or mutual fund. The fund offers five classes of shares: Investor Shares, Admiral Shares, Signal Shares, Institutional Shares, and ETF Shares. Investor Shares are available to any investor who meets the fund’s minimum purchase requirements. Admiral Shares are designed for investors who meet certain administrative, service, tenure, and account-size criteria. Signal Shares are designed for institutional investors who meet certain administrative, service, and account-size criteria. Institutional Shares are designed for investors who meet certain administrative and service criteria and invest a minimum amount of $5 million. ETF Shares are listed for trading on the NYSE Arca, Inc.; they can be purchased and sold through a broker.

A. The following significant accounting policies conform to generally accepted accounting principles for U.S. mutual funds. The fund consistently follows such policies in preparing its financial statements.

1. Security Valuation: Securities are valued as of the close of trading on the New York Stock Exchange (generally 4 p.m., Eastern time) on the valuation date. Equity securities are valued at the latest quoted sales prices or official closing prices taken from the primary market in which each security trades; such securities not traded on the valuation date are valued at the mean of the latest quoted bid and asked prices. Securities for which market quotations are not readily available, or whose values have been materially affected by events occurring before the fund’s pricing time but after the close of the securities’ primary markets, are valued by methods deemed by the board of trustees to represent fair value. Investments in Vanguard Market Liquidity Fund are valued at that fund’s net asset value.

Temporary cash investments acquired over 60 days to maturity are valued using the latest bid prices or using valuations based on a matrix system (which considers such factors as security prices, yields, maturities, and ratings), both as furnished by independent pricing services. Other temporary cash investments are valued at amortized cost, which approximates market value.

2. Futures Contracts: The fund uses index futures contracts to a limited extent, with the objectives of maintaining full exposure to the stock market, enhancing returns, maintaining liquidity, and minimizing transaction costs. The fund may purchase futures contracts to immediately invest incoming cash in the market, or sell futures in response to cash outflows, thereby simulating a fully invested position in the underlying index while maintaining a cash balance for liquidity. The fund may seek to enhance returns by using futures contracts instead of the underlying securities when futures are believed to be priced more attractively than the underlying securities. The primary risks associated with the use of futures contracts are imperfect correlation between changes in market values of stocks held by the fund and the prices of futures contracts, and the possibility of an illiquid market.

Futures contracts are valued at their quoted daily settlement prices. The aggregate principal amounts of the contracts are not recorded in the Statement of Net Assets. Fluctuations in the value of the contracts are recorded in the Statement of Net Assets as an asset (liability) and in the Statement of Operations as unrealized appreciation (depreciation) until the contracts are closed, when they are recorded as realized futures gains (losses).

3. Federal Income Taxes: The fund intends to continue to qualify as a regulated investment company and distribute all of its taxable income. Management has analyzed the fund’s tax positions taken for all open federal income tax years (December 31, 2006–2009), and has concluded that no provision for federal income tax is required in the fund’s financial statements.

4. Distributions: Distributions to shareholders are recorded on the ex-dividend date.

28


Small-Cap Index Fund

5. Security Lending: The fund may lend its securities to qualified institutional borrowers to earn additional income. Security loans are required to be secured at all times by collateral at least equal to the market value of securities loaned. The fund invests cash collateral received in Vanguard Market Liquidity Fund, and records a liability for the return of the collateral, during the period the securities are on loan. Security lending income represents the income earned on investing cash collateral, less expenses associated with the loan.

6. Other: Dividend income is recorded on the ex-dividend date. Interest income includes income distributions received from Vanguard Market Liquidity Fund and is accrued daily. Security transactions are accounted for on the date securities are bought or sold. Costs used to determine realized gains (losses) on the sale of investment securities are those of the specific securities sold.

Each class of shares has equal rights as to assets and earnings, except that each class separately bears certain class-specific expenses related to maintenance of shareholder accounts (included in Management and Administrative expenses), shareholder reporting, and proxies. Marketing and distribution expenses are allocated to each class of shares based on a method approved by the board of trustees. Income, other non-class-specific expenses, and gains and losses on investments are allocated to each class of shares based on its relative net assets.

B. The Vanguard Group furnishes at cost investment advisory, corporate management, administrative, marketing, and distribution services. The costs of such services are allocated to the fund under methods approved by the board of trustees. The fund has committed to provide up to 0.40% of its net assets in capital contributions to Vanguard. At December 31, 2009, the fund had contributed capital of $3,183,000 to Vanguard (included in Other Assets), representing 0.02% of the fund’s net assets and 1.27% of

Vanguard’s capitalization. The fund’s trustees and officers are also directors and officers of Vanguard.

C. Various inputs may be used to determine the value of the fund’s investments. These inputs are summarized in three broad levels for financial statement purposes. The inputs or methodologies used to value securities are not necessarily an indication of the risk associated with investing in those securities.

Level 1—Quoted prices in active markets for identical securities.

Level 2—Other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).

Level 3—Significant unobservable inputs (including the fund’s own assumptions used to determine the fair value of investments).

The following table summarizes the fund’s investments as of December 31, 2009, based on the inputs used to value them:

  Level 1  Level 2  Level 3 
Investments  ($000)  ($000)  ($000) 
Common Stocks  17,239,723  —  — 
Convertible Preferred Stocks  1,006  —  — 
Temporary Cash Investments  362,130  6,497  — 
Futures Contracts—Liabilities1  (595)  —  — 
Total  17,602,264  6,497  — 
1 Represents variation margin on the last day of the reporting period.

29


Small-Cap Index Fund

D. At December 31, 2009, the aggregate settlement value of open futures contracts and the related unrealized appreciation (depreciation) were:

      ($000) 
    Number of  Aggregate  Unrealized 
    Long (Short)  Settlement  Appreciation 
Futures Contracts  Expiration  Contracts  Value  (Depreciation) 
E-mini Russell 2000 Index  March 2010  875  54,591  114 

Unrealized appreciation (depreciation) on open futures contracts is required to be treated as realized gain (loss) for tax purposes.

E. Distributions are determined on a tax basis and may differ from net investment income and realized capital gains for financial reporting purposes. Differences may be permanent or temporary. Permanent differences are reclassified among capital accounts in the financial statements to reflect their tax character. Temporary differences arise when certain items of income, expense, gain, or loss are recognized in different periods for financial statement and tax purposes; these differences will reverse at some time in the future. Differences in classification may also result from the treatment of short-term gains as ordinary income for tax purposes.

During the year ended December 31, 2009, the fund realized $465,769,000 of net capital gains resulting from in-kind redemptions—in which shareholders exchanged fund shares for securities held by the fund rather than for cash. Because such gains are not taxable to the fund, and are not distributed to shareholders, they have been reclassified from accumulated net realized losses to paid-in capital.

For tax purposes, at December 31, 2009, the fund had $2,444,000 of ordinary income available for distribution. The fund had available capital loss carryforwards totaling $1,801,773,000 to offset future net capital gains of $326,341,000 through December 31, 2011, $23,049,000 through December 31, 2015, $481,807,000 through December 31, 2016, and $970,576,000 through December 31, 2017. In addition, the fund realized losses of $405,904,000 during the period from November 1, 2009, through December 31, 2009, which are deferred and will be treated as realized for tax purposes in fiscal 2010.

At December 31, 2009, the cost of investment securities for tax purposes was $16,991,697,000. Net unrealized appreciation of investment securities for tax purposes was $617,659,000, consisting of unrealized gains of $2,792,656,000 on securities that had risen in value since their purchase and $2,174,997,000 in unrealized losses on securities that had fallen in value since their purchase.

F. During the year ended December 31, 2009, the fund purchased $5,748,317,000 of investment securities and sold $2,838,202,000 of investment securities, other than temporary cash investments.

30


Small-Cap Index Fund

G. Capital share transactions for each class of shares were:

  Year Ended December 31, 
  2009  2008 
  Amount  Shares  Amount  Shares 
  ($000)  (000)  ($000)  (000) 
Investor Shares         
Issued  1,292,322  58,916  1,369,493  50,519 
Issued in Lieu of Cash Distributions  56,593  2,071  74,366  3,864 
Redeemed  (976,602)  (44,417)  (1,275,546)  (46,583) 
Net Increase (Decrease)—Investor Shares  372,313  16,570  168,313  7,800 
Admiral Shares         
Issued  290,764  13,073  313,670  11,694 
Issued in Lieu of Cash Distributions  19,054  699  26,178  1,359 
Redeemed  (268,880)  (12,110)  (350,884)  (13,585) 
Net Increase (Decrease)—Admiral Shares  40,938  1,662  (11,036)  (532) 
Signal Shares         
Issued  550,957  27,652  565,494  23,032 
Issued in Lieu of Cash Distributions  16,939  691  21,794  1,257 
Redeemed  (439,590)  (20,897)  (387,462)  (15,887) 
Net Increase (Decrease)—Signal Shares  128,306  7,446  199,826  8,402 
Institutional Shares         
Issued  1,294,155  57,320  1,225,972  44,213 
Issued in Lieu of Cash Distributions  45,986  1,686  50,865  2,644 
Redeemed  (736,594)  (32,428)  (847,729)  (32,066) 
Net Increase (Decrease)—Institutional Shares  603,547  26,578  429,108  14,791 
ETF Shares         
Issued  2,815,775  56,037  3,053,322  53,168 
Issued in Lieu of Cash Distributions  —  —  —  — 
Redeemed  (1,144,285)  (24,500)  (2,455,212)  (40,900) 
Net Increase (Decrease)—ETF Shares  1,671,490  31,537  598,110  12,268 

H. In preparing the financial statements as of December 31, 2009, management considered the impact of subsequent events occurring through February 16, 2010, for potential recognition or disclosure in these financial statements.

31


Small-Cap Growth Index Fund

Fund Profile
As of December 31, 2009

Share-Class Characteristics     
 
  Investor Institutional  ETF 
  Shares  Shares  Shares 
Ticker Symbol  VISGX  VSGIX  VBK 
Expense Ratio1  0.28%  0.09%  0.15% 
30-Day SEC Yield  0.38%  0.56%  0.52% 

Portfolio Characteristics     
      DJ 
    MSCI US  U.S. Total 
    Small Cap  Market 
  Fund  Growth  Index 
Number of Stocks  1,007  1,004  4,201 
Median Market Cap  $1.3B  $1.3B  $30.7B 
Price/Book Ratio  2.6x  2.6x  2.1x 
Return on Equity  12.4%  12.4%  19.3% 
Earnings Growth Rate  10.8% 10.8%  8.1% 
Dividend Yield  0.3%  0.3%  1.8% 
Foreign Holdings  0.0%  0.0%  0.0% 
Turnover Rate  38%  —  — 
Short-Term Reserves  0.1%  —  — 

Sector Diversification (% of equity exposure) 
      DJ 
    MSCI US  U.S. Total 
    Small Cap  Market 
  Fund  Growth  Index 
Consumer       
Discretionary  17.0%  17.0%  10.3% 
Consumer Staples  3.3  3.3  9.9 
Energy  7.9  7.9  10.6 
Financials  7.0  7.0  16.0 
Health Care  17.6  17.6  12.6 
Industrials  16.6  16.6  10.6 
Information       
Technology  26.1  26.1  19.3 
Materials  2.8  2.8  4.0 
Telecommunication       
Services  1.1  1.1  2.9 
Utilities  0.6  0.6  3.8 

Volatility Measures     
    DJ 
  MSCI US  U.S. Total 
  Small Cap  Market 
  Growth  Index 
R-Squared  1.00  0.92 
Beta  1.00  1.23 

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) 
Rovi Corp.  Systems Software  0.5% 
Oshkosh Corp.  Construction & Farm Machinery & Heavy Trucks  0.5
MSCI Inc. Class A  Specialized Finance  0.5 
Green Mountain Coffee Roasters Inc. Packaged Foods & Meats 0.4
Human Genome Sciences Inc. Biotechnology  0.4
Itron Inc.  Electronic Equipment & Instruments  0.4
Waste Connections Inc.  Environmental & Facilities Services  0.4
Varian Semiconductor Equipment Associates Inc. Semiconductor  Equipment  0.4
ITC Holdings Corp.  Electric Utilities  0.4 
Tenet Healthcare Corp.  Health Care Facilities  0.4
Top Ten    4.3% 

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 0.28% for
Investor Shares, 0.08% for Institutional Shares, and 0.14% for ETF Shares.

32


Small-Cap Growth 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 
  Small-Cap Growth Index Fund Investor         
  Shares  41.85%  2.56%  4.84%  $16,043 
••••••••  Dow Jones U.S. Total Stock Market         
  Index  29.35  1.09  -0.17  9,828 
 
 
Small-Cap Spliced Index 35.83 -0.12 -0.91 15,746
– – – –  Small-Cap Growth Growth Funds Average 41.97  2.58  4.64  9,130 

Spliced Small-Cap Growth Index: S&P SmallCap 600/Barra Growth Index through May 16, 2003; MSCI US Small Cap Growth Index thereafter.
Small-Cap Growth Funds Average: Derived from data provided by Lipper Inc.

      Since  Final Value 
  One  Five  Inception  of a $5,000,000 
  Year  Years  (5/24/2000)  Investment 
Small-Cap Growth Index Fund         
Institutional Shares  42.13%  2.72%  5.55%  $8,401,635 
Dow Jones U.S. Total Stock Market         
Index  29.35  1.09  0.56  5,276,343 
Spliced Small-Cap Growth Index  41.97  2.58  5.23  8,154,822 

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

33


Small-Cap Growth Index Fund

      Since  Final Value 
  One  Five  Inception  of a $10,000 
  Year  Years  (1/26/2004)  Investment 
Small-Cap Growth Index Fund         
ETF Shares Net Asset Value  42.02%  2.68%  3.33%  $12,147 
Dow Jones U.S. Total Stock Market Index  29.35  1.09  2.20  11,376 
MSCI US Small Cap Growth Index  41.97  2.58  3.26  12,093 

Performance for the fund’s ETF Shares and comparative standards is calculated since the ETF Shares’ inception.
For more information about how the ETF Shares' market prices have compared with their net asset value, visit www.vanguard.com, select
your ETF, and then select the Performance tab. The Premium/Discount table there shows the percentages of days on which the ETF Shares'
market price was above or below the NAV.

Cumulative Returns of ETF Shares: January 26, 2004, Through December 31, 2009

  One  Five  Since 
  Year  Years  Inception 
Small-Cap Growth Index Fund       
ETF Shares Market Price  42.33%  14.21%  21.35% 
Small-Cap Growth Index Fund       
ETF Shares Net Asset Value  42.02  14.12  21.47 
MSCI US Small Cap Growth Index  41.97  13.60  20.93 

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

34


Small-Cap Growth Index Fund

Financial Statements

Statement of Net Assets—Investments Summary
As of December 31, 2009

This Statement summarizes the fund’s holdings by asset type. Details are reported for each of the fund’s 50 largest individual holdings and for investments that, in total for any issuer, represent more than 1% of the fund’s net assets. The total value of smaller holdings is reported as a single amount within each category.

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 complete listing of the fund’s holdings is available electronically on Vanguard.com and on the Securities and Exchange Commission’s website (www.sec.gov), or you can have it mailed to you without charge by calling 800-662-7447. For the first and third fiscal quarters, the fund files the lists with the SEC on Form N-Q. Shareholders can look up the fund’s Forms N-Q on the SEC’s website. 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  Percentage 
    Value•  of Net 
  Shares  ($000)  Assets 
Common Stocks       
Consumer Discretionary       
* Chico’s FAS Inc.  1,424,004  20,007  0.4% 
Gentex Corp.  1,106,420  19,750  0.4% 
* Big Lots Inc.  663,067  19,216  0.4% 
* Sirius XM Radio Inc.  31,268,031  18,761  0.4% 
* Aeropostale Inc.  541,984  18,455  0.4% 
* Hanesbrands Inc.  761,000  18,348  0.4% 
* J Crew Group Inc.  404,025  18,076  0.4% 
* Dick’s Sporting Goods Inc.  702,389  17,468  0.3% 
* Bally Technologies Inc.  416,721  17,206  0.3% 
Phillips-Van Heusen Corp.  414,468  16,861  0.3% 
* WMS Industries Inc.  405,535  16,221  0.3% 
* Panera Bread Co. Class A  239,430  16,035  0.3% 
Consumer Discretionary—Other †    655,239  12.7% 
    871,643  17.0% 
Consumer Staples       
* Green Mountain Coffee Roasters Inc.  279,487  22,770  0.4% 
Herbalife Ltd.  495,612  20,107  0.4% 
* NBTY Inc.  447,333  19,477  0.4% 
Consumer Staples—Other †    106,052  2.1% 
    168,406  3.3% 
Energy       
Core Laboratories NV  175,316  20,708  0.4% 
* Encore Acquisition Co.  423,884  20,355  0.4% 
* Atlas Energy Inc.  596,147  17,986  0.4% 
St Mary Land & Exploration Co.  502,050  17,190  0.3% 
* Atwood Oceanics Inc.  464,131  16,639  0.3% 
Energy—Other †    313,680  6.1% 
    406,558  7.9% 

35


Small-Cap Growth Index Fund

    Market  Percentage 
    Value•  of Net 
  Shares  ($000)  Assets 
Financials       
* MSCI Inc. Class A  804,407  25,580  0.5% 
Jones Lang LaSalle Inc.  335,563  20,268  0.4% 
Financials—Other †    313,372  6.1% 
    359,220  7.0% 
Health Care       
* Human Genome Sciences Inc.  725,018  22,186  0.4% 
* Tenet Healthcare Corp.  3,864,242  20,828  0.4% 
* United Therapeutics Corp.  384,355  20,236  0.4% 
* Valeant Pharmaceuticals International  619,844  19,705  0.4% 
* VCA Antech Inc.  682,172  17,000  0.3% 
Health Care—Other †    800,560  15.6% 
    900,515  17.5% 
Industrials       
Oshkosh Corp.  702,377  26,009  0.5% 
* Waste Connections Inc.  643,487  21,454  0.4% 
IDEX Corp.  648,331  20,195  0.4% 
Gardner Denver Inc.  417,725  17,774  0.4% 
* UAL Corp.  1,341,727  17,322  0.4% 
* Monster Worldwide Inc.  960,810  16,718  0.3% 
Towers Watson & Co. Class A  342,854  16,292  0.3% 
Landstar System Inc.  412,224  15,982  0.3% 
Industrials—Other †    700,037  13.6% 
    851,783  16.6% 
Information Technology       
* Rovi Corp.  816,809  26,032  0.5% 
* Itron Inc.  321,272  21,708  0.4% 
* Varian Semiconductor Equipment Associates Inc.  588,973  21,132  0.4% 
* MICROS Systems Inc.  645,849  20,041  0.4% 
* CommScope Inc.  751,862  19,947  0.4% 
Solera Holdings Inc.  530,651  19,109  0.4% 
* VistaPrint NV  326,676  18,509  0.4% 
* Informatica Corp.  709,782  18,355  0.4% 
* Atheros Communications Inc.  535,022  18,319  0.4% 
* QLogic Corp.  948,686  17,902  0.3% 
* Polycom Inc.  675,265  16,861  0.3% 
* Silicon Laboratories Inc.  342,306  16,547  0.3% 
* Atmel Corp.  3,442,458  15,870  0.3% 
Information Technology—Other †    1,094,141  21.3% 
    1,344,473  26.2% 
 
Materials †    143,295  2.8% 
 
Telecommunication Services       
* tw telecom inc Class A  1,198,685  20,545  0.4% 
Telecommunication Services—Other †    33,438  0.6% 
    53,983  1.0% 
Utilities       
ITC Holdings Corp.  401,298  20,904  0.4% 
Utilities—Other †    7,792  0.1% 
    28,696  0.5% 
Total Common Stocks (Cost $4,667,482)    5,128,572  99.8%1 

36


Small-Cap Growth Index Fund

      Market  Percentage 
      Value•  of Net 
  Coupon  Shares  ($000)  Assets 
Temporary Cash Investments         
Money Market Fund         
2,3 Vanguard Market Liquidity Fund  0.187%  134,424,678  134,425  2.6% 
 
4U.S. Government and Agency Obligations †      999  0.0% 
Total Temporary Cash Investments (Cost $135,424)      135,424  2.6%1 
5Total Investments (Cost $4,802,906)      5,263,996  102.4% 
Other Assets and Liabilities         
Other Assets      23,383  0.5% 
Liabilities3      (147,654)  (2.9%) 
      (124,271)  (2.4%) 
Net Assets      5,139,725  100.0% 

37


Small-Cap Growth Index Fund

At December 31, 2009, net assets consisted of:   
  Amount 
  ($000) 
Paid-in Capital  6,065,401 
Overdistributed Net Investment Income  (6,764) 
Accumulated Net Realized Losses  (1,379,957) 
Unrealized Appreciation (Depreciation)   
Investment Securities  461,090 
Futures Contracts  (45) 
Net Assets  5,139,725 
 
Investor Shares—Net Assets   
Applicable to 179,302,979 outstanding $.001 par value shares of   
beneficial interest (unlimited authorization)  3,017,590 
Net Asset Value Per Share—Investor Shares  $16.83 
 
Institutional Shares—Net Assets   
Applicable to 56,055,458 outstanding $.001 par value shares of   
beneficial interest (unlimited authorization)  944,794 
Net Asset Value Per Share—Institutional Shares  $16.85 
 
ETF Shares—Net Assets   
Applicable to 19,667,335 outstanding $.001 par value shares of   
beneficial interest (unlimited authorization)  1,177,341 
Net Asset Value Per Share—ETF Shares  $59.86 

• See Note A in Notes to Financial Statements.
* Non-income-producing security.
† Represents the aggregate value, by category, of securities that are not among the 50 largest holdings and, in total for any issuer, represent
1% or less of net assets.
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 99.9% and 2.5%, 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 $122,632,000 of collateral received for securities on loan.
4 Securities with a value of $999,000 have been segregated as initial margin for open futures contracts.
5 The total value of securities on loan is $106,087,000.
See accompanying Notes, which are an integral part of the Financial Statements.
38


Small-Cap Growth Index Fund

Statement of Operations

  Year Ended 
  December 31, 2009 
  ($000) 
Investment Income   
Income   
Dividends  15,079 
Interest1  79 
Security Lending  8,593 
Total Income  23,751 
Expenses   
The Vanguard Group—Note B   
Investment Advisory Services  202 
Management and Administrative—Investor Shares  5,156 
Management and Administrative—Institutional Shares  240 
Management and Administrative—ETF Shares  700 
Marketing and Distribution—Investor Shares  613 
Marketing and Distribution—Institutional Shares  193 
Marketing and Distribution—ETF Shares  274 
Custodian Fees  373 
Auditing Fees  29 
Shareholders’ Reports and Proxies—Investor Shares  226 
Shareholders’ Reports and Proxies—Institutional Shares  8 
Shareholders’ Reports and Proxies—ETF Shares  172 
Trustees’ Fees and Expenses  8 
Total Expenses  8,194 
Net Investment Income  15,557 
Realized Net Gain (Loss)   
Investment Securities Sold  (143,441) 
Futures Contracts  2,208 
Realized Net Gain (Loss)  (141,233) 
Change in Unrealized Appreciation (Depreciation)   
Investment Securities  1,570,259 
Futures Contracts  (596) 
Change in Unrealized Appreciation (Depreciation)  1,569,663 
Net Increase (Decrease) in Net Assets Resulting from Operations  1,443,987 
1 Interest income from an affiliated company of the fund was $55,000.   

See accompanying Notes, which are an integral part of the Financial Statements.
39


Small-Cap Growth 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  15,557  25,768 
Realized Net Gain (Loss)  (141,233)  (374,592) 
Change in Unrealized Appreciation (Depreciation)  1,569,663  (1,579,920) 
Net Increase (Decrease) in Net Assets Resulting from Operations  1,443,987  (1,928,744) 
Distributions     
Net Investment Income     
Investor Shares  (8,702)  (15,611) 
Institutional Shares  (4,179)  (5,087) 
ETF Shares  (4,659)  (6,779) 
Realized Capital Gain     
Investor Shares  —  — 
Institutional Shares  —  — 
ETF Shares  —  — 
Total Distributions  (17,540)  (27,477) 
Capital Share Transactions     
Investor Shares  322,971  269,325 
Institutional Shares  177,511  129,511 
ETF Shares  151,301  232,705 
Net Increase (Decrease) from Capital Share Transactions  651,783  631,541 
Total Increase (Decrease)  2,078,230  (1,324,680) 
Net Assets     
Beginning of Period  3,061,495  4,386,175 
End of Period1  5,139,725  3,061,495 

1 Net Assets—End of Period includes undistributed (overdistributed) net investment income of ($6,764,000) and ($4,781,000).

See accompanying Notes, which are an integral part of the Financial Statements.
40


Small-Cap Growth Index Fund

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  $11.90  $20.01  $18.34  $16.43  $15.16 
Investment Operations           
Net Investment Income  .046  .096  .095  .051  .040 
Net Realized and Unrealized Gain (Loss)           
on Investments  4.933  (8.105)  1.669  1.911  1.270 
Total from Investment Operations  4.979  (8.009)  1.764  1.962  1.310 
Distributions           
Dividends from Net Investment Income  (.049)  (.101)  (.094)  (.052)  (.040) 
Distributions from Realized Capital Gains  —  —  —  —  — 
Total Distributions  (.049)  (.101)  (.094)  (.052)  (.040) 
Net Asset Value, End of Period  $16.83  $11.90  $20.01  $18.34  $16.43 
 
Total Return1  41.85%  -40.00%  9.63%  11.94%  8.64% 
 
Ratios/Supplemental Data           
Net Assets, End of Period (Millions)  $3,018  $1,871  $2,825  $2,208  $1,726 
Ratio of Total Expenses to           
Average Net Assets  0.28%  0.23%  0.22%  0.23%  0.23% 
Ratio of Net Investment Income to           
Average Net Assets  0.33%  0.60%  0.52%  0.30%  0.27% 
Portfolio Turnover Rate2  38%  38%  32%  40%  39% 

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,
including ETF Creation Units.

See accompanying Notes, which are an integral part of the Financial Statements.
41


Small-Cap Growth Index Fund

Financial Highlights

Institutional Shares           
 
For a Share Outstanding  Year Ended December 31, 
Throughout Each Period  2009  2008  2007  2006  2005 
Net Asset Value, Beginning of Period  $11.91  $20.04  $18.37  $16.46  $15.18 
Investment Operations           
Net Investment Income  .072  .121  .125  .080  .073 
Net Realized and Unrealized Gain (Loss)           
on Investments  4.944  (8.126)  1.669  1.910  1.270 
Total from Investment Operations  5.016  (8.005)  1.794  1.990  1.343 
Distributions           
Dividends from Net Investment Income  (.076)  (.125)  (.124)  (.080)  (.063) 
Distributions from Realized Capital Gains  —  —  —  —  — 
Total Distributions  (.076)  (.125)  (.124)  (.080)  (.063) 
Net Asset Value, End of Period  $16.85  $11.91  $20.04  $18.37  $16.46 
 
Total Return  42.13%  -39.91%  9.78%  12.09%  8.84% 
 
Ratios/Supplemental Data           
Net Assets, End of Period (Millions)  $945  $511  $703  $257  $73 
Ratio of Total Expenses to           
Average Net Assets  0.08%  0.07%  0.07%  0.08%  0.08% 
Ratio of Net Investment Income to           
Average Net Assets  0.53%  0.76%  0.67%  0.45%  0.42% 
Portfolio Turnover Rate1  38%  38%  32%  40%  39% 

1 Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares,
including ETF Creation Units.

See accompanying Notes, which are an integral part of the Financial Statements.
42


Small-Cap Growth Index Fund

Financial Highlights

ETF Shares           
 
For a Share Outstanding  Year Ended December 31, 
Throughout Each Period  2009  2008  2007  2006  2005 
Net Asset Value, Beginning of Period  $42.32  $71.18  $65.24  $58.47  $53.95 
Investment Operations           
Net Investment Income  .225  .411  .415  .262  .200 
Net Realized and Unrealized Gain (Loss)           
on Investments  17.555  (28.846)  5.940  6.773  4.534 
Total from Investment Operations  17.780  (28.435)  6.355  7.035  4.734 
Distributions           
Dividends from Net Investment Income  (.240)  (.425)  (.415)  (.265)  (.214) 
Distributions from Realized Capital Gains  —  —  —  —  — 
Total Distributions  (.240)  (.425)  (.415)  (.265)  (.214) 
Net Asset Value, End of Period  $59.86  $42.32  $71.18  $65.24  $58.47 
 
Total Return  42.02%  -39.92%  9.74%  12.03%  8.77% 
 
Ratios/Supplemental Data           
Net Assets, End of Period (Millions)  $1,177  $680  $858  $518  $206 
Ratio of Total Expenses to           
Average Net Assets  0.14%  0.11%  0.11%  0.12%  0.12% 
Ratio of Net Investment Income to           
Average Net Assets  0.47%  0.72%  0.63%  0.41%  0.37% 
Portfolio Turnover Rate1  38%  38%  32%  40%  39% 

1 Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares,
including ETF Creation Units.

See accompanying Notes, which are an integral part of the Financial Statements.
43


Small-Cap Growth Index Fund

Notes to Financial Statements

Vanguard Small-Cap Growth Index Fund is registered under the Investment Company Act of 1940 as an open-end investment company, or mutual fund. The fund offers three classes of shares: Investor Shares, Institutional Shares, and ETF Shares. Investor Shares are available to any investor who meets the fund’s minimum purchase requirements. Institutional Shares are designed for investors who meet certain administrative and service criteria and invest a minimum amount of $5 million. ETF Shares are listed for trading on the NYSE Arca, Inc.; they can be purchased and sold through a broker.

A. The following significant accounting policies conform to generally accepted accounting principles for U.S. mutual funds. The fund consistently follows such policies in preparing its financial statements.

1. Security Valuation: Securities are valued as of the close of trading on the New York Stock Exchange (generally 4 p.m., Eastern time) on the valuation date. Equity securities are valued at the latest quoted sales prices or official closing prices taken from the primary market in which each security trades; such securities not traded on the valuation date are valued at the mean of the latest quoted bid and asked prices. Securities for which market quotations are not readily available, or whose values have been materially affected by events occurring before the fund’s pricing time but after the close of the securities’ primary markets, are valued by methods deemed by the board of trustees to represent fair value. Investments in Vanguard Market Liquidity Fund are valued at that fund’s net asset value.

Temporary cash investments acquired over 60 days to maturity are valued using the latest bid prices or using valuations based on a matrix system (which considers such factors as security prices, yields, maturities, and ratings), both as furnished by independent pricing services. Other temporary cash investments are valued at amortized cost, which approximates market value.

2. Futures Contracts: The fund uses index futures contracts to a limited extent, with the objectives of maintaining full exposure to the stock market, enhancing returns, maintaining liquidity, and minimizing transaction costs. The fund may purchase futures contracts to immediately invest incoming cash in the market, or sell futures in response to cash outflows, thereby simulating a fully invested position in the underlying index while maintaining a cash balance for liquidity. The fund may seek to enhance returns by using futures contracts instead of the underlying securities when futures are believed to be priced more attractively than the underlying securities. The primary risks associated with the use of futures contracts are imperfect correlation between changes in market values of stocks held by the fund and the prices of futures contracts, and the possibility of an illiquid market.

Futures contracts are valued at their quoted daily settlement prices. The aggregate principal amounts of the contracts are not recorded in the Statement of Net Assets. Fluctuations in the value of the contracts are recorded in the Statement of Net Assets as an asset (liability) and in the Statement of Operations as unrealized appreciation (depreciation) until the contracts are closed, when they are recorded as realized futures gains (losses).

3. Federal Income Taxes: The fund intends to continue to qualify as a regulated investment company and distribute all of its taxable income. Management has analyzed the fund’s tax positions taken for all open federal income tax years (December 31, 2006–2009), and has concluded that no provision for federal income tax is required in the fund’s financial statements.

4. Distributions: Distributions to shareholders are recorded on the ex-dividend date.

44


Small-Cap Growth Index Fund

5. Security Lending: The fund may lend its securities to qualified institutional borrowers to earn additional income. Security loans are required to be secured at all times by collateral at least equal to the market value of securities loaned. The fund invests cash collateral received in Vanguard Market Liquidity Fund, and records a liability for the return of the collateral, during the period the securities are on loan. Security lending income represents the income earned on investing cash collateral, less expenses associated with the loan.

6. Other: Dividend income is recorded on the ex-dividend date. Interest income includes income distributions received from Vanguard Market Liquidity Fund and is accrued daily. Security transactions are accounted for on the date securities are bought or sold. Costs used to determine realized gains (losses) on the sale of investment securities are those of the specific securities sold.

Each class of shares has equal rights as to assets and earnings, except that each class separately bears certain class-specific expenses related to maintenance of shareholder accounts (included in Management and Administrative expenses), shareholder reporting, and proxies. Marketing and distribution expenses are allocated to each class of shares based on a method approved by the board of trustees. Income, other non-class-specific expenses, and gains and losses on investments are allocated to each class of shares based on its relative net assets.

B. The Vanguard Group furnishes at cost investment advisory, corporate management, administrative, marketing, and distribution services. The costs of such services are allocated to the fund under methods approved by the board of trustees. The fund has committed to provide up to 0.40% of its net assets in capital contributions to Vanguard. At December 31, 2009, the fund had contributed capital of $937,000 to Vanguard (included in Other Assets), representing 0.02% of the fund’s net assets and 0.37% of

Vanguard’s capitalization. The fund’s trustees and officers are also directors and officers of Vanguard.

C. Various inputs may be used to determine the value of the fund’s investments. These inputs are summarized in three broad levels for financial statement purposes. The inputs or methodologies used to value securities are not necessarily an indication of the risk associated with investing in those securities.

Level 1—Quoted prices in active markets for identical securities.

Level 2—Other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).

Level 3—Significant unobservable inputs (including the fund’s own assumptions used to determine the fair value of investments).

The following table summarizes the fund’s investments as of December 31, 2009, based on the inputs used to value them:

  Level 1  Level 2  Level 3 
Investments  ($000)  ($000)  ($000) 
Common Stocks  5,128,572  —  — 
Temporary Cash Investments  134,425  999  — 
Futures Contracts—Liabilities1  (84)  —  — 
Total  5,262,913  999  — 
1 Represents variation margin on the last day of the reporting period.

45


Small-Cap Growth Index Fund

D. At December 31, 2009, the aggregate settlement value of open futures contracts and the related unrealized appreciation (depreciation) were:

      ($000) 
    Number of  Aggregate  Unrealized 
    Long (Short)  Settlement  Appreciation 
Futures Contracts  Expiration  Contracts  Value  (Depreciation) 
E-mini Russell 2000 Index  March 2010  123  7,674  (45) 

Unrealized appreciation (depreciation) on open futures contracts is required to be treated as realized gain (loss) for tax purposes.

E. Distributions are determined on a tax basis and may differ from net investment income and realized capital gains for financial reporting purposes. Differences may be permanent or temporary. Permanent differences are reclassified among capital accounts in the financial statements to reflect their tax character. Temporary differences arise when certain items of income, expense, gain, or loss are recognized in different periods for financial statement and tax purposes; these differences will reverse at some time in the future. Differences in classification may also result from the treatment of short-term gains as ordinary income for tax purposes.

During the year ended December 31, 2009, the fund realized $249,431,000 of net capital gains resulting from in-kind redemptions—in which shareholders exchanged fund shares for securities held by the fund rather than for cash. Because such gains are not taxable to the fund, and are not distributed to shareholders, they have been reclassified from accumulated net realized losses to paid-in capital.

For tax purposes, at December 31, 2009, the fund had $103,000 of ordinary income available for distribution. The fund had available capital loss carryforwards totaling $1,167,190,000 to offset future net capital gains of $13,814,000 through December 31, 2011, $15,893,000 through December 31, 2014, $12,561,000 through December 31, 2015, $302,440,000 through December 31, 2016, and $822,482,000 through December 31, 2017. In addition, the fund realized losses of $205,442,000 during the period from November 1, 2009, through December 31, 2009, which are deferred and will be treated as realized for tax purposes in fiscal 2010.

At December 31, 2009, the cost of investment securities for tax purposes was $4,810,273,000. Net unrealized appreciation of investment securities for tax purposes was $453,723,000, consisting of unrealized gains of $807,768,000 on securities that had risen in value since their purchase and $354,045,000 in unrealized losses on securities that had fallen in value since their purchase.

F. During the year ended December 31, 2009, the fund purchased $2,846,299,000 of investment securities and sold $2,185,217,000 of investment securities, other than temporary cash investments.

46


Small-Cap Growth Index Fund

G. Capital share transactions for each class of shares were:

  Year Ended December 31, 
  2009  2008 
  Amount  Shares  Amount  Shares 
  ($000)  (000)  ($000)  (000) 
Investor Shares         
Issued  817,190  59,537  948,611  58,907 
Issued in Lieu of Cash Distributions  8,181  494  14,677  1,296 
Redeemed  (502,400)  (37,919)  (693,963)  (44,169) 
Net Increase (Decrease)—Investor Shares  322,971  22,112  269,325  16,034 
Institutional Shares         
Issued  357,212  27,809  283,248  17,034 
Issued in Lieu of Cash Distributions  3,909  235  4,709  416 
Redeemed  (183,610)  (14,896)  (158,446)  (9,630) 
Net Increase (Decrease)—Institutional Shares  177,511  13,148  129,511  7,820 
ETF Shares         
Issued  839,418  17,004  1,346,817  21,705 
Issued in Lieu of Cash Distributions  —  —  —  — 
Redeemed  (688,117)  (13,400)  (1,114,112)  (17,700) 
Net Increase (Decrease)—ETF Shares  151,301  3,604  232,705  4,005 

H. In preparing the financial statements as of December 31, 2009, management considered the impact of subsequent events occurring through February 16, 2010, for potential recognition or disclosure in these financial statements.

47


Small-Cap Value Index Fund

Fund Profile
As of December 31, 2009

Share-Class Characteristics     
 
  Investor Institutional  ETF 
  Shares  Shares  Shares 
Ticker Symbol  VISVX  VSIIX  VBR 
Expense Ratio1  0.28%  0.09%  0.15% 
30-Day SEC Yield  2.25%  2.44%  2.39% 

Portfolio Characteristics     
      DJ 
    MSCI US  U.S. Total 
    Small Cap  Market 
  Fund  Value  Index 
Number of Stocks  994  991  4,201 
Median Market Cap  $1.3B  $1.3B  $30.7B 
Price/Book Ratio  1.3x  1.3x  2.1x 
Return on Equity  9.7%  9.7%  19.3% 
Earnings Growth Rate  0.5%  0.5%  8.1% 
Dividend Yield  2.3%  2.3%  1.8% 
Foreign Holdings  0.0%  0.0%  0.0% 
Turnover Rate  33%  —  — 
Short-Term Reserves  -0.1%  —  — 

Sector Diversification (% of equity exposure) 
      DJ 
    MSCI US  U.S. Total 
    Small Cap  Market 
  Fund  Value  Index 
Consumer       
Discretionary  12.2%  12.2%  10.3% 
Consumer Staples  4.0  4.0  9.9 
Energy  4.2  4.2  10.6 
Financials  32.9  32.9  16.0 
Health Care  6.4  6.4  12.6 
Industrials  15.5  15.5  10.6 
Information       
Technology  9.0  9.0  19.3 
Materials  8.0  8.0  4.0 
Telecommunication       
Services  1.0  1.0  2.9 
Utilities  6.8  6.8  3.8 

Volatility Measures     
    DJ 
  MSCI US  U.S. Total 
  Small Cap  Market 
  Value  Index 
R-Squared  1.00  0.89 
Beta  1.00  1.24 

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) 
3Com Corp.  Communications Equipment  0.5%
Tupperware Brands Corp.  Housewares & Specialties  0.5
Corrections Corp. of America Security & Alarm Services  0.4
AGL Resources Inc.  Gas Utilities        0.4
Ashland Inc.  Diversified Chemicals  0.4
Alexandria Real Estate Equities Inc. Office REITs   0.4
Mednax Inc.  Health Care Services  0.4
Senior Housing Properties Trust Specialized REITs   0.4
Human Genome Sciences Inc. Biotechnology   0.4
Assured Guaranty Ltd.  Property & Casualty Insurance  0.4
Top Ten    4.2% 

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 0.28% for
Investor Shares, 0.08% for Institutional Shares, and 0.14% for ETF Shares.

48


Small-Cap Value 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 
  Small-Cap Value Index Fund Investor         
  Shares  30.34%  0.80%  7.69%  $20,978 
••••••••  Dow Jones U.S. Total Stock Market         
  Index  29.35  1.09  -0.17  9,828 
 
 
Small-Cap Spliced Index 31.80 0.26 7.76 21,106
– – – –  Small-Cap Value Funds Value Average 30.29  0.88  7.44  20,487 

Spliced Small-Cap Value Index: S&P SmallCap 600/Barra Value Index through May 16, 2003; MSCI US Small Cap Value Index thereafter.
Small-Cap Value Funds Average: Derived from data provided by Lipper Inc.

        Final Value 
  One  Five  Ten  of a $5,000,000 
  Year  Years  Years  Investment 
Small-Cap Value Index Fund         
Institutional Shares  30.71%  0.99%  7.87%  $10,663,941 
Dow Jones U.S. Total Stock Market         
Index  29.35  1.09  -0.17  4,913,789 
Spliced Small-Cap Value Index  30.29  0.88  7.44  10,243,638 

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.

49


Small-Cap Value Index Fund

      Since  Final Value 
  One  Five  Inception  of a $10,000 
  Year  Years  (1/26/2004)  Investment 
Small-Cap Value Index Fund         
ETF Shares Net Asset Value  30.52%  0.93%  3.54%  $12,288 
Dow Jones U.S. Total Stock Market Index  29.35  1.09  2.20  11,376 
MSCI US Small Cap Value Index  30.29  0.88  3.51  12,272 

Performance for the fund’s ETF Shares and comparative standards is calculated since the ETF Shares’ inception.
For more information about how the ETF Shares' market prices have compared with their net asset value, visit www.vanguard.com, select
your ETF, and then select the Performance tab. The Premium/Discount table there shows the percentages of days on which the ETF Shares'
market price was above or below the NAV.

Cumulative Returns of ETF Shares: January 26, 2004, Through December 31, 2009

  One  Five  Since 
  Year  Years  Inception 
Small-Cap Value Index Fund       
ETF Shares Market Price  31.10%  4.91%  22.83% 
Small-Cap Value Index Fund       
ETF Shares Net Asset Value  30.52  4.72  22.88 
MSCI US Small Cap Value Index  30.29  4.50  22.72 

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

50


Small-Cap Value Index Fund

Financial Statements

Statement of Net Assets—Investments Summary
As of December 31, 2009

This Statement summarizes the fund’s holdings by asset type. Details are reported for each of the fund’s 50 largest individual holdings and for investments that, in total for any issuer, represent more than 1% of the fund’s net assets. The total value of smaller holdings is reported as a single amount within each category.

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 complete listing of the fund’s holdings is available electronically on Vanguard.com and on the Securities and Exchange Commission’s website (www.sec.gov), or you can have it mailed to you without charge by calling 800-662-7447. For the first and third fiscal quarters, the fund files the lists with the SEC on Form N-Q. Shareholders can look up the fund’s Forms N-Q on the SEC’s website. 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  Percentage 
    Value•  of Net 
  Shares  ($000)  Assets 
Common Stocks       
Consumer Discretionary       
Tupperware Brands Corp.  504,423  23,491  0.5% 
Jarden Corp.  709,158  21,920  0.4% 
RadioShack Corp.  1,002,745  19,554  0.4% 
Service Corp. International  2,016,200  16,513  0.3% 
Consumer Discretionary—Other †    545,947  10.6% 
    627,425  12.2% 
Consumer Staples       
Del Monte Foods Co.  1,584,416  17,967  0.3% 
Consumer Staples—Other †    185,371  3.6% 
    203,338  3.9% 
Energy       
Southern Union Co.  896,620  20,353  0.4% 
* Whiting Petroleum Corp.  264,714  18,914  0.4% 
Energy—Other †    177,403  3.4% 
    216,670  4.2% 
Financials       
Alexandria Real Estate Equities Inc.  347,873  22,365  0.4% 
Senior Housing Properties Trust  1,018,452  22,274  0.4% 
Assured Guaranty Ltd.  1,012,316  22,028  0.4% 
Camden Property Trust  513,699  21,765  0.4% 
Mack-Cali Realty Corp.  628,053  21,712  0.4% 
Waddell & Reed Financial Inc.  687,961  21,010  0.4% 
First Niagara Financial Group Inc.  1,467,745  20,416  0.4% 
Chimera Investment Corp.  5,109,881  19,826  0.4% 
Highwoods Properties Inc.  569,220  18,983  0.4% 
Essex Property Trust Inc.  225,885  18,895  0.4% 
Arthur J Gallagher & Co.  811,745  18,272  0.4% 
Hanover Insurance Group Inc.  407,435  18,102  0.4% 
Bank of Hawaii Corp.  383,840  18,064  0.4% 
Corporate Office Properties Trust SBI  465,346  17,046  0.3% 
Aspen Insurance Holdings Ltd.  667,134  16,979  0.3% 

51


Small-Cap Value Index Fund

    Market  Percentage 
    Value•  of Net 
  Shares  ($000)  Assets 
Washington Federal Inc.  873,939  16,902  0.3% 
MFA Financial Inc.  2,189,043  16,089  0.3% 
StanCorp Financial Group Inc.  393,778  15,759  0.3% 
* E*Trade Financial Corp.  8,947,189  15,658  0.3% 
Financials—Other †    1,326,189  25.9% 
    1,688,334  32.9% 
Health Care       
* Mednax Inc.  371,465  22,329  0.4% 
* Human Genome Sciences Inc.  723,017  22,124  0.4% 
PerkinElmer Inc.  936,114  19,275  0.4% 
Teleflex Inc.  319,132  17,198  0.4% 
Health Care—Other †    245,702  4.8% 
    326,628  6.4% 
Industrials       
* Corrections Corp. of America  922,827  22,655  0.4% 
Hubbell Inc. Class B  415,837  19,669  0.4% 
Snap-On Inc.  462,334  19,538  0.4% 
Lincoln Electric Holdings Inc.  340,641  18,211  0.4% 
Kennametal Inc.  651,187  16,879  0.3% 
Carlisle Cos. Inc.  490,610  16,808  0.3% 
Industrials—Other †    681,350  13.3% 
    795,110  15.5% 
Information Technology       
* 3Com Corp.  3,132,981  23,497  0.4% 
* Skyworks Solutions Inc.  1,371,197  19,457  0.4% 
* Tech Data Corp.  402,380  18,775  0.4% 
Information Technology—Other †    397,031  7.7% 
    458,760  8.9% 
Materials       
Ashland Inc.  566,438  22,442  0.4% 
RPM International Inc.  1,034,204  21,025  0.4% 
Aptargroup Inc.  542,267  19,381  0.4% 
Packaging Corp. of America  825,709  19,000  0.4% 
* Domtar Corp.  335,907  18,613  0.4% 
Compass Minerals International Inc.  261,061  17,541  0.4% 
Temple-Inland Inc.  814,256  17,189  0.3% 
Materials—Other †    273,862  5.3% 
    409,053  8.0% 
 
Telecommunication Services †    49,698  1.0% 
 
Utilities       
AGL Resources Inc.  619,092  22,578  0.4% 
Atmos Energy Corp.  739,139  21,731  0.4% 
Great Plains Energy Inc.  1,084,411  21,027  0.4% 
Westar Energy Inc.  872,051  18,941  0.4% 
Utilities—Other †    264,005  5.2% 
    348,282  6.8% 
Total Common Stocks (Cost $5,034,847)    5,123,298  99.8%1 

52


Small-Cap Value Index Fund

      Market  Percentage 
      Value•  of Net 
      ($000)  Assets 
Convertible Preferred Stocks         
Consumer Discretionary †      700  0.0% 
Total Convertible Preferred Stocks (Cost $515)      700  0.0% 
 
  Coupon  Shares     
Temporary Cash Investments         
Money Market Fund         
2,3 Vanguard Market Liquidity Fund  0.187%  42,020,647  42,021  0.8% 
 
4U.S. Government and Agency Obligations †      1,999  0.1% 
Total Temporary Cash Investments (Cost $44,020)      44,020  0.9%1 
5Total Investments (Cost $5,079,382)      5,168,018  100.7% 
Other Assets and Liabilities         
Other Assets      30,352  0.6% 
Liabilities3      (65,697)  (1.3%) 
      (35,345)  (0.7%) 
Net Assets      5,132,673  100.0% 

53


Small-Cap Value Index Fund

At December 31, 2009, net assets consisted of:

  Amount 
  ($000) 
Paid-in Capital  6,574,510 
Overdistributed Net Investment Income  (6,383) 
Accumulated Net Realized Losses  (1,523,968) 
Unrealized Appreciation (Depreciation)   
Investment Securities  88,636 
Futures Contracts  (122) 
Net Assets  5,132,673 
 
Investor Shares—Net Assets   
Applicable to 251,059,274 outstanding $.001 par value shares of   
beneficial interest (unlimited authorization)  3,279,130 
Net Asset Value Per Share—Investor Shares  $13.06 
 
Institutional Shares—Net Assets   
Applicable to 41,519,249 outstanding $.001 par value shares of   
beneficial interest (unlimited authorization)  543,357 
Net Asset Value Per Share—Institutional Shares  $13.09 
 
ETF Shares—Net Assets   
Applicable to 24,042,374 outstanding $.001 par value shares of   
beneficial interest (unlimited authorization)  1,310,186 
Net Asset Value Per Share—ETF Shares  $54.49 

• See Note A in Notes to Financial Statements.
* Non-income-producing security.
† Represents the aggregate value, by category, of securities that are not among the 50 largest holdings and, in total for any issuer, represent
1% or less of net assets.
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 0.7%, 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 $36,115,000 of collateral received for securities on loan.
4 Securities with a value of $1,999,000 have been segregated as initial margin for open futures contracts.
5 The total value of securities on loan is $33,270,000.
See accompanying Notes, which are an integral part of the Financial Statements.
54


Small-Cap Value Index Fund

Statement of Operations

  Year Ended 
  December 31, 2009 
  ($000) 
Investment Income   
Income   
Dividends  100,253 
Interest1  61 
Security Lending  4,089 
Total Income  104,403 
Expenses   
The Vanguard Group—Note B   
Investment Advisory Services  214 
Management and Administrative—Investor Shares  5,967 
Management and Administrative—Institutional Shares  124 
Management and Administrative—ETF Shares  832 
Marketing and Distribution—Investor Shares  666 
Marketing and Distribution—Institutional Shares  128 
Marketing and Distribution—ETF Shares  312 
Custodian Fees  335 
Auditing Fees  30 
Shareholders’ Reports and Proxies—Investor Shares  285 
Shareholders’ Reports and Proxies—Institutional Shares  13 
Shareholders’ Reports and Proxies—ETF Shares  165 
Trustees’ Fees and Expenses  9 
Total Expenses  9,080 
Net Investment Income  95,323 
Realized Net Gain (Loss)   
Investment Securities Sold  (378,176) 
Futures Contracts  610 
Realized Net Gain (Loss)  (377,566) 
Change in Unrealized Appreciation (Depreciation)   
Investment Securities  1,468,519 
Futures Contracts  (122) 
Change in Unrealized Appreciation (Depreciation)  1,468,397 
Net Increase (Decrease) in Net Assets Resulting from Operations  1,186,154 

1 Interest income from an affiliated company of the fund was $34,000.

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

55


Small-Cap Value 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  95,323  105,315 
Realized Net Gain (Loss)  (377,566)  (159,316) 
Change in Unrealized Appreciation (Depreciation)  1,468,397  (1,598,768) 
Net Increase (Decrease) in Net Assets Resulting from Operations  1,186,154  (1,652,769) 
Distributions     
Net Investment Income     
Investor Shares  (60,460)  (68,805) 
Institutional Shares  (10,732)  (11,527) 
ETF Shares  (25,772)  (26,694) 
Realized Capital Gain     
Investor Shares  —  — 
Institutional Shares  —  — 
ETF Shares  —  — 
Total Distributions  (96,964)  (107,026) 
Capital Share Transactions     
Investor Shares  154,755  (2,691) 
Institutional Shares  49,011  140,295 
ETF Shares  127,785  407,664 
Net Increase (Decrease) from Capital Share Transactions  331,551  545,268 
Total Increase (Decrease)  1,420,741  (1,214,527) 
Net Assets     
Beginning of Period  3,711,932  4,926,459 
End of Period1  5,132,673  3,711,932 

1 Net Assets—End of Period includes undistributed (overdistributed) net investment income of ($6,383,000) and ($4,742,000).

See accompanying Notes, which are an integral part of the Financial Statements.
56


Small-Cap Value Index Fund

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  $10.21  $15.49  $17.05  $14.56  $13.97 
Investment Operations           
Net Investment Income  .241  .293  .344  .311  .263 
Net Realized and Unrealized Gain (Loss)           
on Investments  2.854  (5.277)  (1.551)  2.488  .589 
Total from Investment Operations  3.095  (4.984)  (1.207)  2.799  .852 
Distributions           
Dividends from Net Investment Income  (.245)  (.296)  (.353)  (.309)  (.262) 
Distributions from Realized Capital Gains  —  —  —  —  — 
Total Distributions  (.245)  (.296)  (.353)  (.309)  (.262) 
Net Asset Value, End of Period  $13.06  $10.21  $15.49  $17.05  $14.56 
 
Total Return1  30.34%  -32.05%  -7.07%  19.24%  6.07% 
 
Ratios/Supplemental Data           
Net Assets, End of Period (Millions)  $3,279  $2,435  $3,678  $4,314  $3,446 
Ratio of Total Expenses to           
Average Net Assets  0.28%  0.23%  0.22%  0.23%  0.23% 
Ratio of Net Investment Income to           
Average Net Assets  2.26%  2.33%  1.95%  2.06%  1.96% 
Portfolio Turnover Rate2  33%  30%  34%  25%  28% 

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,
including ETF Creation Units.

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

57


Small-Cap Value Index Fund

Financial Highlights

Institutional Shares           
 
For a Share Outstanding  Year Ended December 31, 
Throughout Each Period  2009  2008  2007  2006  2005 
Net Asset Value, Beginning of Period  $10.22  $15.53  $17.09  $14.59  $13.99 
Investment Operations           
Net Investment Income  .262  .315  .372  .345  .294 
Net Realized and Unrealized Gain (Loss)           
on Investments  2.874  (5.307)  (1.551)  2.488  .589 
Total from Investment Operations  3.136  (4.992)  (1.179)  2.833  .883 
Distributions           
Dividends from Net Investment Income  (.266)  (.318)  (.381)  (.333)  (.283) 
Distributions from Realized Capital Gains  —  —  —  —  — 
Total Distributions  (.266)  (.318)  (.381)  (.333)  (.283) 
Net Asset Value, End of Period  $13.09  $10.22  $15.53  $17.09  $14.59 
 
Total Return  30.71%  -32.02%  -6.89%  19.44%  6.28% 
 
Ratios/Supplemental Data           
Net Assets, End of Period (Millions)  $543  $383  $430  $310  $247 
Ratio of Total Expenses to           
Average Net Assets  0.08%  0.07%  0.07%  0.08%  0.08% 
Ratio of Net Investment Income to           
Average Net Assets  2.46%  2.49%  2.10%  2.21%  2.11% 
Portfolio Turnover Rate1  33%  30%  34%  25%  28% 

1 Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares,
including ETF Creation Units.

See accompanying Notes, which are an integral part of the Financial Statements.
58


Small-Cap Value Index Fund

Financial Highlights

ETF Shares           
 
For a Share Outstanding  Year Ended December 31, 
Throughout Each Period  2009  2008  2007  2006  2005 
Net Asset Value, Beginning of Period  $42.58  $64.65  $71.16  $60.76  $58.31 
Investment Operations           
Net Investment Income  1.071  1.296  1.531  1.380  1.174 
Net Realized and Unrealized Gain (Loss)           
on Investments  11.923  (22.053)  (6.474)  10.391  2.443 
Total from Investment Operations  12.994  (20.757)  (4.943)  11.771  3.617 
Distributions           
Dividends from Net Investment Income  (1.084)  (1.313)  (1.567)  (1.371)  (1.167) 
Distributions from Realized Capital Gains  —  —  —  —  — 
Total Distributions  (1.084)  (1.313)  (1.567)  (1.371)  (1.167) 
Net Asset Value, End of Period  $54.49  $42.58  $64.65  $71.16  $60.76 
 
Total Return  30.52%  -31.99%  -6.96%  19.40%  6.20% 
 
Ratios/Supplemental Data           
Net Assets, End of Period (Millions)  $1,310  $894  $819  $510  $188 
Ratio of Total Expenses to           
Average Net Assets  0.14%  0.11%  0.11%  0.12%  0.12% 
Ratio of Net Investment Income to           
Average Net Assets  2.40%  2.45%  2.06%  2.17%  2.07% 
Portfolio Turnover Rate1  33%  30%  34%  25%  28% 

1 Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares,
including ETF Creation Units.

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

59


Small-Cap Value Index Fund

Notes to Financial Statements

Vanguard Small-Cap Value Index Fund is registered under the Investment Company Act of 1940 as an open-end investment company, or mutual fund. The fund offers three classes of shares: Investor Shares, Institutional Shares, and ETF Shares. Investor Shares are available to any investor who meets the fund’s minimum purchase requirements. Institutional Shares are designed for investors who meet certain administrative and service criteria and invest a minimum amount of $5 million. ETF Shares are listed for trading on the NYSE Arca, Inc.; they can be purchased and sold through a broker.

A. The following significant accounting policies conform to generally accepted accounting principles for U.S. mutual funds. The fund consistently follows such policies in preparing its financial statements.

1. Security Valuation: Securities are valued as of the close of trading on the New York Stock Exchange (generally 4 p.m., Eastern time) on the valuation date. Equity securities are valued at the latest quoted sales prices or official closing prices taken from the primary market in which each security trades; such securities not traded on the valuation date are valued at the mean of the latest quoted bid and asked prices. Securities for which market quotations are not readily available, or whose values have been materially affected by events occurring before the fund’s pricing time but after the close of the securities’ primary markets, are valued by methods deemed by the board of trustees to represent fair value. Investments in Vanguard Market Liquidity Fund are valued at that fund’s net asset value.

Temporary cash investments acquired over 60 days to maturity are valued using the latest bid prices or using valuations based on a matrix system (which considers such factors as security prices, yields, maturities, and ratings), both as furnished by independent pricing services. Other temporary cash investments are valued at amortized cost, which approximates market value.

2. Futures Contracts: The fund uses index futures contracts to a limited extent, with the objectives of maintaining full exposure to the stock market, enhancing returns, maintaining liquidity, and minimizing transaction costs. The fund may purchase futures contracts to immediately invest incoming cash in the market, or sell futures in response to cash outflows, thereby simulating a fully invested position in the underlying index while maintaining a cash balance for liquidity. The fund may seek to enhance returns by using futures contracts instead of the underlying securities when futures are believed to be priced more attractively than the underlying securities. The primary risks associated with the use of futures contracts are imperfect correlation between changes in market values of stocks held by the fund and the prices of futures contracts, and the possibility of an illiquid market.

Futures contracts are valued at their quoted daily settlement prices. The aggregate principal amounts of the contracts are not recorded in the Statement of Net Assets. Fluctuations in the value of the contracts are recorded in the Statement of Net Assets as an asset (liability) and in the Statement of Operations as unrealized appreciation (depreciation) until the contracts are closed, when they are recorded as realized futures gains (losses).

3. Federal Income Taxes: The fund intends to continue to qualify as a regulated investment company and distribute all of its taxable income. Management has analyzed the fund’s tax positions taken for all open federal income tax years (December 31, 2006–2009), and has concluded that no provision for federal income tax is required in the fund’s financial statements.

4. Distributions: Distributions to shareholders are recorded on the ex-dividend date.

60


Small-Cap Value Index Fund

5. Security Lending: The fund may lend its securities to qualified institutional borrowers to earn additional income. Security loans are required to be secured at all times by collateral at least equal to the market value of securities loaned. The fund invests cash collateral received in Vanguard Market Liquidity Fund, and records a liability for the return of the collateral, during the period the securities are on loan. Security lending income represents the income earned on investing cash collateral, less expenses associated with the loan.

6. Other: Dividend income is recorded on the ex-dividend date. Interest income includes income distributions received from Vanguard Market Liquidity Fund and is accrued daily. Security transactions are accounted for on the date securities are bought or sold. Costs used to determine realized gains (losses) on the sale of investment securities are those of the specific securities sold.

Each class of shares has equal rights as to assets and earnings, except that each class separately bears certain class-specific expenses related to maintenance of shareholder accounts (included in Management and Administrative expenses), shareholder reporting, and proxies. Marketing and distribution expenses are allocated to each class of shares based on a method approved by the board of trustees. Income, other non-class-specific expenses, and gains and losses on investments are allocated to each class of shares based on its relative net assets.

B. The Vanguard Group furnishes at cost investment advisory, corporate management, administrative, marketing, and distribution services. The costs of such services are allocated to the fund under methods approved by the board of trustees. The fund has committed to provide up to 0.40% of its net assets in capital contributions to Vanguard. At December 31, 2009, the fund had contributed capital of $963,000 to Vanguard (included in Other Assets), representing 0.02% of the fund’s net assets and 0.39% of

Vanguard’s capitalization. The fund’s trustees and officers are also directors and officers of Vanguard.

C. Various inputs may be used to determine the value of the fund’s investments. These inputs are summarized in three broad levels for financial statement purposes. The inputs or methodologies used to value securities are not necessarily an indication of the risk associated with investing in those securities.

Level 1—Quoted prices in active markets for identical securities.

Level 2—Other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).

Level 3—Significant unobservable inputs (including the fund’s own assumptions used to determine the fair value of investments).

The following table summarizes the fund’s investments as of December 31, 2009, based on the inputs used to value them:

  Level 1  Level 2  Level 3 
Investments  ($000)  ($000)  ($000) 
Common Stocks  5,123,298  —  — 
Convertible Preferred Stocks  700  —  — 
Temporary Cash Investments  42,021  1,999  — 
Futures Contracts—Liabilities1  (116)  —  — 
Total  5,165,903  1,999  — 
1 Represents variation margin on the last day of the reporting period.

61


Small-Cap Value Index Fund

D. At December 31, 2009, the aggregate settlement value of open futures contracts and the related unrealized appreciation (depreciation) were:

      ($000) 
    Number of  Aggregate  Unrealized 
    Long (Short)  Settlement  Appreciation 
Futures Contracts  Expiration  Contracts  Value  (Depreciation) 
E-mini Russell 2000 Index  March 2010  170  10,606  (122) 

Unrealized appreciation (depreciation) on open futures contracts is required to be treated as realized gain (loss) for tax purposes.

E. Distributions are determined on a tax basis and may differ from net investment income and realized capital gains for financial reporting purposes. Differences may be permanent or temporary. Permanent differences are reclassified among capital accounts in the financial statements to reflect their tax character. Temporary differences arise when certain items of income, expense, gain, or loss are recognized in different periods for financial statement and tax purposes; these differences will reverse at some time in the future. Differences in classification may also result from the treatment of short-term gains as ordinary income for tax purposes.

During the year ended December 31, 2009, the fund realized $311,579,000 of net capital gains resulting from in-kind redemptions—in which shareholders exchanged fund shares for securities held by the fund rather than for cash. Because such gains are not taxable to the fund, and are not distributed to shareholders, they have been reclassified from accumulated net realized losses to paid-in capital.

For tax purposes, at December 31, 2009, the fund had $2,311,000 of ordinary income available for distribution. The fund had available capital loss carryforwards totaling $1,250,195,000 to offset future net capital gains of $67,032,000 through December 31, 2011, $86,085,000 through December 31, 2015, $318,931,000 through December 31, 2016, and $778,147,000 through December 31, 2017. In addition, the fund realized losses of $268,813,000 during the period from November 1, 2009, through December 31, 2009, which are deferred and will be treated as realized for tax purposes in fiscal 2010.

At December 31, 2009, the cost of investment securities for tax purposes was $5,083,421,000. Net unrealized appreciation of investment securities for tax purposes was $84,597,000, consisting of unrealized gains of $664,790,000 on securities that had risen in value since their purchase and $580,193,000 in unrealized losses on securities that had fallen in value since their purchase.

F. During the year ended December 31, 2009, the fund purchased $2,398,863,000 of investment securities and sold $2,060,840,000 of investment securities, other than temporary cash investments.

62


Small-Cap Value Index Fund

G. Capital share transactions for each class of shares were:

  Year Ended December 31, 
  2009  2008 
  Amount  Shares  Amount  Shares 
  ($000)  (000)  ($000)  (000) 
Investor Shares         
Issued  676,646  63,651  848,310  64,696 
Issued in Lieu of Cash Distributions  55,690  4,297  63,599  6,620 
Redeemed  (577,581)  (55,367)  (914,600)  (70,180) 
Net Increase (Decrease)—Investor Shares  154,755  12,581  (2,691)  1,136 
Institutional Shares         
Issued  190,927  17,053  297,675  21,816 
Issued in Lieu of Cash Distributions  9,248  713  9,355  976 
Redeemed  (151,164)  (13,695)  (166,735)  (13,010) 
Net Increase (Decrease)—Institutional Shares  49,011  4,071  140,295  9,782 
ETF Shares         
Issued  874,144  18,135  1,476,368  26,734 
Issued in Lieu of Cash Distributions  —  —  —  — 
Redeemed  (746,359)  (15,100)  (1,068,704)  (18,400) 
Net Increase (Decrease)—ETF Shares  127,785  3,035  407,664  8,334 

H. In preparing the financial statements as of December 31, 2009, management considered the impact of subsequent events occurring through February 16, 2010, for potential recognition or disclosure in these financial statements.

63


Report of Independent Registered
Public Accounting Firm

To the Trustees of Vanguard Index Funds and the Shareholders of Vanguard Small-Cap Index Fund, Vanguard Small-Cap Growth Index Fund and Vanguard Small-Cap Value Index Fund:

In our opinion, the accompanying statements of net assets-investments summary and the related statements of operations and of changes in net assets and the financial highlights present fairly, in all material respects, the financial position of Vanguard Small-Cap Index Fund, Vanguard Small-Cap Growth Index Fund and Vanguard Small-Cap Value Index Fund (constituting separate portfolios of Vanguard

Index Funds, hereafter referred to as the “Funds”) at December 31, 2009, the results of each of their operations for the year then ended, the changes in each of their net assets for each of the two years in the period then ended and the financial highlights for each of the periods indicated, in conformity with accounting principles generally accepted in the United States of America. These financial statements and financial highlights (hereafter referred to as “financial statements”) are the responsibility of the Funds’ management; our responsibility is to express an opinion on these financial statements based on our audits. We conducted our audits of these financial statements in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, and evaluating the overall financial statement presentation. We believe that our audits, which included confirmation of securities at December 31, 2009 by correspondence with the custodian and broker and by agreement to the underlying ownership records of Vanguard Market Liquidity Fund, provide a reasonable basis for our opinion.

PricewaterhouseCoopers LLP
Philadelphia, Pennsylvania

February 16, 2010

64


 
Special 2009 tax information (unaudited) for Vanguard U.S. Stock Index Funds
(Small-Capitalization Portfolios)

This information for the fiscal year ended December 31, 2009, is included pursuant to provisions of the Internal Revenue Code.

The funds distributed qualified dividend income to shareholders during the fiscal year as follows:

Qualified
Dividend 
 

Income 

Index Fund  ($000) 
Small-Cap  133,498 
Small-Cap Growth  13,837 
Small-Cap Value  71,656 

For corporate shareholders, the percentage of investment income (dividend income plus short-term gains, if any) that qualifies for the dividends-received deduction is as follows:

Index Fund  Percentage 
Small-Cap  69.2% 
Small-Cap Growth  76.0 
Small-Cap Value  70.9 

65


Your Fund’s After-Tax Returns

This table presents returns for your fund both before and after taxes. The after-tax returns are shown in two ways: (1) assuming that an investor owned the fund during the entire period and paid taxes on the fund’s distributions, and (2) assuming that an investor paid taxes on the fund’s distributions and sold all shares at the end of each period.

Calculations are based on the highest individual federal income tax and capital gains tax rates in effect at the times of the distributions and the hypothetical sales. State and local taxes were not considered. After-tax returns reflect any qualified dividend income . (In the example, returns after the sale of fund shares may be higher than those assuming no sale. This occurs when the sale would have produced a capital loss. The calculation assumes that the investor received a tax deduction for the loss.) The table shows returns for Investor Shares only; returns for other share classes will differ. Please note that your actual after-tax returns will depend on your tax situation and may differ from those shown. Also note that if you own the fund in a tax-deferred account, such as an individual retirement account or a 401(k) plan, this information does not apply to you. Such accounts are not subject to current taxes.

Finally, keep in mind that a fund’s performance—whether before or after taxes—does not guarantee future results.

Average Annual Total Returns: U.S. Stock Index Funds Small-Capitalization Portfolios

Periods Ended December 31, 2009

  One  Five  Ten 
  Year  Years  Years 
Small-Cap Index Fund Investor Shares       
Returns Before Taxes  36.12%  1.79%  4.35% 
Returns After Taxes on Distributions  35.84  1.52  3.69 
Returns After Taxes on Distributions and Sale of Fund Shares  23.67  1.45  3.44 

  One  Five  Ten 
  Year  Years  Years 
Small-Cap Growth Index Fund Investor Shares       
Returns Before Taxes  41.85%  2.56%  4.84% 
Returns After Taxes on Distributions  41.77  2.47  4.62 
Returns After Taxes on Distributions and Sale of Fund Shares  27.27  2.17  4.11 

  One  Five  Ten 
  Year  Years  Years 
Small-Cap Value Index Fund Investor Shares       
Returns Before Taxes  30.34%  0.80%  7.69% 
Returns After Taxes on Distributions  29.85  0.36  6.73 
Returns After Taxes on Distributions and Sale of Fund Shares  20.07  0.56  6.23 

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

66


About Your Fund’s Expenses

As a shareholder of the fund, you incur ongoing costs, which include costs for portfolio management, administrative services, and shareholder reports (like this one), among others. Operating expenses, which are deducted from a fund’s gross income, directly reduce the investment return of the fund.

A fund’s expenses are expressed as a percentage of its average net assets. This figure is known as the expense ratio. The following examples are intended to help you understand the ongoing costs (in dollars) of investing in your fund and to compare these costs with those of other mutual funds. The examples are based on an investment of $1,000 made at the beginning of the period shown and held for the entire period.

The accompanying table illustrates your fund’s costs in two ways:

• Based on actual fund return. This section helps you to estimate the actual expenses that you paid over the period. The ”Ending Account Value“ shown is derived from the fund‘s actual return, and the third column shows the dollar amount that would have been paid by an investor who started with $1,000 in the fund. You may use the information here, together with the amount you invested, to estimate the expenses that you paid over the period.

To do so, simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number given for your fund under the heading ”Expenses Paid During Period.“

• Based on hypothetical 5% yearly return. This section is intended to help you compare your fund‘s costs with those of other mutual funds. It assumes that the fund had a yearly return of 5% before expenses, but that the expense ratio is unchanged. In this case—because the return used is not the fund’s actual return—the results do not apply to your investment. The example is useful in making comparisons because the Securities and Exchange Commission requires all mutual funds to calculate expenses based on a 5% return. You can assess your fund’s costs by comparing this hypothetical example with the hypothetical examples that appear in shareholder reports of other funds.

Note that the expenses shown in the table are meant to highlight and help you compare ongoing costs only and do not reflect transaction costs incurred by the fund for buying and selling securities. Further, the expenses do not include the account service fee described in the prospectus. If such a fee were applied to your account, your costs would be higher. Your fund does not charge transaction fees, such as purchase or redemption fees, nor does it carry a “sales load.” The calculations assume no shares were bought or sold during the period. Your actual costs may have been higher or lower, depending on the amount of your investment and the timing of any purchases or redemptions.

You can find more information about the fund’s expenses, including annual expense ratios, in the Financial Statements section of this report. For additional information on operating expenses and other shareholder costs, please refer to your fund’s current prospectus.

67


Six Months Ended December 31, 2009

  Beginning  Ending  Expenses 
  Account Value  Account Value  Paid During 
  6/30/2009  12/31/2009  Period 
Based on Actual Fund Return       
Small-Cap Index Fund       
Investor Shares  $1,000.00  $1,268.00  $1.60 
Admiral Shares  1,000.00  1,269.23  0.74 
Signal Shares  1,000.00  1,268.74  0.74 
Institutional Shares  1,000.00  1,269.24  0.40 
ETF Shares  1,000.00  1,268.86  0.74 
Small-Cap Growth Index Fund       
Investor Shares  $1,000.00  $1,249.19  $1.59 
Institutional Shares  1,000.00  1,250.73  0.40 
ETF Shares  1,000.00  1,250.23  0.74 
Small-Cap Value Index Fund       
Investor Shares  $1,000.00  $1,285.83  $1.61 
Institutional Shares  1,000.00  1,288.17  0.40 
ETF Shares  1,000.00  1,287.06  0.75 
Based on Hypothetical 5% Yearly Return       
Small-Cap Index Fund       
Investor Shares  $1,000.00  $1,023.79  $1.43 
Admiral Shares  1,000.00  1,024.55  0.66 
Signal Shares  1,000.00  1,024.55  0.66 
Institutional Shares  1,000.00  1,024.85  0.36 
ETF Shares  1,000.00  1,024.55  0.66 
Small-Cap Growth Index Fund       
Investor Shares  $1,000.00  $1,023.79  $1.43 
Institutional Shares  1,000.00  1,024.85  0.36 
ETF Shares  1,000.00  1,024.55  0.66 
Small-Cap Value Index Fund       
Investor Shares  $1,000.00  $1,023.79  $1.43 
Institutional Shares  1,000.00  1,024.85  0.36 
ETF Shares  1,000.00  1,024.55  0.66 

The calculations are based on expenses incurred in the most recent six-month period. The funds’ annualized six-month expense ratios for that
period are: for the Small-Cap Index Fund, 0.28% for Investor Shares, 0.13% for Admiral Shares, 0.13% for Signal Shares, 0.07% for
Institutional Shares, and 0.13% for ETF Shares; for the Small-Cap Growth Index Fund, 0.28% for Investor Shares, 0.07% for Institutional
Shares, and 0.13% for ETF Shares; and for the Small-Cap Value Index Fund, 0.28% for Investor Shares, 0.07% for Institutional Shares, and
0.13% for ETF Shares. The dollar amounts shown as “Expenses Paid” are equal to the annualized expense ratio multiplied by the average
account value over the period, multiplied by the number of days in the most recent six-month period, then divided by the number of days in
the most recent 12-month period.

68


Glossary

30-Day SEC Yield. A fund’s 30-day SEC yield is derived using a formula specified by the U.S. Securities and Exchange Commission. Under the formula, data related to the fund’s security holdings in the previous 30 days are used to calculate the fund’s hypothetical net income for that period, which is then annualized and divided by the fund’s estimated average net assets over the calculation period. For the purposes of this calculation, a security’s income is based on its current market yield to maturity (in the case of bonds) or its projected dividend yield (for stocks). Because the SEC yield represents hypothetical annualized income, it will differ—at times significantly—from the fund’s actual experience. As a result, the fund’s income distributions may be higher or lower than implied by the SEC yield.

Beta. A measure of the magnitude of a fund’s past share-price fluctuations in relation to the ups and downs of a given market index. The index is assigned a beta of 1.00. Compared with a given index, a fund with a beta of 1.20 typically would have seen its share price rise or fall by 12% when the index rose or fell by 10%. For this report, beta is based on returns over the past 36 months for both the fund and the index. Note that a fund’s beta should be reviewed in conjunction with its R-squared (see definition). The lower the R-squared, the less correlation there is between the fund and the index, and the less reliable beta is as an indicator of volatility.

Dividend Yield. Dividend income earned by stocks, expressed as a percentage of the aggregate market value (or of net asset value, for a fund). The yield is determined by dividing the amount of the annual dividends by the aggregate value (or net asset value) at the end of the period. For a fund, the dividend yield is based solely on stock holdings and does not include any income produced by other investments.

Earnings Growth Rate. The average annual rate of growth in earnings over the past five years for the stocks now in a fund.

Equity Exposure. A measure that reflects a fund’s investments in stocks and stock futures. Any holdings in short-term reserves are excluded.

Expense Ratio. The percentage of a fund’s average net assets used to pay its annual administrative and advisory expenses. These expenses directly reduce returns to investors.

Foreign Holdings. The percentage of a fund represented by stocks or depositary receipts of companies based outside the United States.

Inception Date. The date on which the assets of a fund (or one of its share classes) are first invested in accordance with the fund’s investment objective. For funds with a subscription period, the inception date is the day after that period ends. Investment performance is measured from the inception date.

Median Market Cap. An indicator of the size of companies in which a fund invests; the midpoint of market capitalization (market price x shares outstanding) of a fund’s stocks, weighted by the proportion of the fund’s assets invested in each stock. Stocks representing half of the fund’s assets have market capitalizations above the median, and the rest are below it.

Price/Book Ratio. The share price of a stock divided by its net worth, or book value, per share. For a fund, the weighted average price/book ratio of the stocks it holds.

69


R-Squared. A measure of how much of a fund’s past returns can be explained by the returns from the market in general, as measured by a given index. If a fund’s total returns were precisely synchronized with an index’s returns, its R-squared would be 1.00. If the fund’s returns bore no relationship to the index’s returns, its R-squared would be 0. For this report, R-squared is based on returns over the past 36 months for both the fund and the index.

Return on Equity. The annual average rate of return generated by a company during the past five years for each dollar of shareholder’s equity (net income divided by shareholder’s equity). For a fund, the weighted average return on equity for the companies whose stocks it holds.

Short-Term Reserves. The percentage of a fund invested in highly liquid, short-term securities that can be readily converted to cash.

Turnover Rate. An indication of the fund’s trading activity. Funds with high turnover rates incur higher transaction costs and may be more likely to distribute capital gains (which may be taxable to investors). The turnover rate excludes in-kind transactions, which have minimal impact on costs.

70


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The People Who Govern Your Fund

The trustees of your mutual fund are there to see that the fund is operated and managed in your best interests since, as a shareholder, you are a part owner of the fund. Your fund’s trustees also serve on the board of directors of The Vanguard Group, Inc., which is owned by the Vanguard funds and provides services to them on an at-cost basis.

A majority of Vanguard’s board members are independent, meaning that they have no affiliation with Vanguard or the funds they oversee, apart from the sizable personal investments they have made as private individuals. The independent board members have distinguished backgrounds in business, academia, and public service. Each of the trustees and executive officers oversees 163 Vanguard funds.

The following table provides information for each trustee and executive officer of the fund. More information about the trustees is in the Statement of Additional Information, which can be obtained, without charge, by contacting Vanguard at 800-662-7447, or online at www.vanguard.com.

Interested Trustee1  Rajiv L. Gupta 
  Born 1945. Trustee Since December 2001.2 Principal 
F. William McNabb III  Occupation(s) During the Past Five Years: Chairman 
Born 1957. Trustee Since July 2009. Chairman of the  and Chief Executive Officer (retired 2009) and President 
Board. Principal Occupation(s) During the Past Five  (2006–2008) of Rohm and Haas Co. (chemicals); Board 
Years: Chairman of the Board of The Vanguard Group,  Member of American Chemistry Council; Director of 
Inc., and of each of the investment companies served  Tyco International, Ltd. (diversified manufacturing and 
by The Vanguard Group, since January 2010; Director of  services) and Hewlett-Packard Co. (electronic computer 
The Vanguard Group since 2008; Chief Executive Officer  manufacturing); Trustee of The Conference Board. 
and President of The Vanguard Group and of each of the   
investment companies served by The Vanguard Group  Amy Gutmann 
since 2008; Director of Vanguard Marketing Corporation;  Born 1949. Trustee Since June 2006. Principal 
Managing Director of The Vanguard Group (1995–2008).  Occupation(s) During the Past Five Years: President of 
  the University of Pennsylvania; Christopher H. Browne 
  Distinguished Professor of Political Science in the School 
Independent Trustees  of Arts and Sciences with secondary appointments 
  at the Annenberg School for Communication and the 
Emerson U. Fullwood  Graduate School of Education of the University of 
Born 1948. Trustee Since January 2008. Principal  Pennsylvania; Director of Carnegie Corporation of 
Occupation(s) During the Past Five Years: Executive  New York, Schuylkill River Development Corporation, 
Chief Staff and Marketing Officer for North America  and Greater Philadelphia Chamber of Commerce; 
and Corporate Vice President (retired 2008) of Xerox  Trustee of the National Constitution Center. 
Corporation (photocopiers and printers); Director of   
SPX Corporation (multi-industry manufacturing), the   
United Way of Rochester, the Boy Scouts of America,   
Amerigroup Corporation (direct health and medical   
insurance carriers), and Monroe Community College   
Foundation.   


JoAnn Heffernan Heisen  Executive Officers   
Born 1950. Trustee Since July 1998. Principal     
Occupation(s) During the Past Five Years: Corporate  Thomas J. Higgins   
Vice President and Chief Global Diversity Officer since  Born 1957. Chief Financial Officer Since September 
2006 (retired 2008) and Member of the Executive  2008. Principal Occupation(s) During the Past Five 
Committee (retired 2008) of Johnson & Johnson  Years: Principal of The Vanguard Group, Inc.; Chief 
(pharmaceuticals/consumer products); Vice President  Financial Officer of each of the investment companies 
and Chief Information Officer of Johnson & Johnson  served by The Vanguard Group since 2008; Treasurer 
(1997–2005); Director of the University Medical Center  of each of the investment companies served by The 
at Princeton and Women’s Research and Education  Vanguard Group (1998–2008). 
Institute; Member of the Advisory Board of the Maxwell     
School of Citizenship and Public Affairs at Syracuse  Kathryn J. Hyatt   
University.  Born 1955. Treasurer Since November 2008. Principal 
  Occupation(s) During the Past Five Years: Principal of 
F. Joseph Loughrey  The Vanguard Group, Inc.; Treasurer of each of the 
Born 1949. Trustee Since October 2009. Principal  investment companies served by The Vanguard 
Occupation(s) During the Past Five Years: President and  Group since 2008; Assistant Treasurer of each of the 
Chief Operating Officer since 2005 (retired 2009) and  investment companies served by The Vanguard Group 
Vice Chairman of the Board (2008–2009) of Cummins  (1988–2008).   
Inc. (industrial machinery); Director of SKF AB (industrial     
machinery), Hillenbrand, Inc. (specialized consumer  Heidi Stam   
services), Sauer-Danfoss Inc. (machinery), the Lumina  Born 1956. Secretary Since July 2005. Principal 
Foundation for Education, and the Columbus Community  Occupation(s) During the Past Five Years: Managing 
Education Coalition; Chairman of the Advisory Council  Director of The Vanguard Group, Inc., since 2006; 
for the College of Arts and Letters at the University of  General Counsel of The Vanguard Group since 2005; 
Notre Dame.  Secretary of The Vanguard Group and of each of the 
  investment companies served by The Vanguard Group 
André F. Perold  since 2005; Director and Senior Vice President of 
Born 1952. Trustee Since December 2004. Principal  Vanguard Marketing Corporation since 2005; Principal 
Occupation(s) During the Past Five Years: George Gund  of The Vanguard Group (1997–2006). 
Professor of Finance and Banking, Harvard Business     
School; Chair of the Investment Committee of HighVista     
Strategies LLC (private investment firm).  Vanguard Senior Management Team 
 
Alfred M. Rankin, Jr.  R. Gregory Barton  Michael S. Miller 
Born 1941. Trustee Since January 1993. Principal  Mortimer J. Buckley  James M. Norris 
Occupation(s) During the Past Five Years: Chairman,  Kathleen C. Gubanich  Glenn W. Reed 
President, and Chief Executive Officer of NACCO  Paul A. Heller  George U. Sauter 
Industries, Inc. (forklift trucks/housewares/lignite);     
Director of Goodrich Corporation (industrial products/     
aircraft systems and services); Deputy Chairman of  Chairman Emeritus and Senior Advisor 
the Federal Reserve Bank of Cleveland; Trustee of     
University Hospitals of Cleveland, The Cleveland  John J. Brennan   
Museum of Art, and Case Western Reserve University.  Chairman, 1996–2009   
  Chief Executive Officer and President, 1996–2008 
Peter F. Volanakis     
Born 1955. Trustee Since July 2009. Principal     
Occupation(s) During the Past Five Years: President  Founder   
since 2007 and Chief Operating Officer since 2005     
of Corning Incorporated (communications equipment);  John C. Bogle   
President of Corning Technologies (2001–2005); Director  Chairman and Chief Executive Officer, 1974–1996 
of Corning Incorporated and Dow Corning; Trustee of     
the Corning Incorporated Foundation and the Corning     
Museum of Glass; Overseer of the Amos Tuck School     
of Business Administration at Dartmouth College.     

1 Mr. McNabb is considered an “interested person,” as defined in the Investment Company Act of 1940, because he is an officer of the
Vanguard funds.
2 December 2002 for Vanguard Equity Income Fund, Vanguard Growth Equity Fund, the Vanguard Municipal Bond Funds, and the Vanguard
State Tax-Exempt Funds.


P.O. Box 2600
Valley Forge, PA 19482-2600

Connect with Vanguard® > www.vanguard.com

Fund Information > 800-662-7447  The funds or securities referred to herein are not 
Direct Investor Account Services > 800-662-2739  sponsored, endorsed, or promoted by MSCI, and MSCI 
  bears no liability with respect to any such funds or 
Institutional Investor Services > 800-523-1036  securities. For any such funds or securities, the 
Text Telephone for People  prospectus or the  Statement of Additional Information 
With Hearing Impairment > 800-749-7273  contains a more detailed description of the limited 
  relationship MSCI has with The Vanguard Group and 
This material may be used in conjunction  any related funds. 
with the offering of shares of any Vanguard   
fund only if preceded or accompanied by   
the fund’s current prospectus.   
 
All comparative mutual fund data are from Lipper Inc. or   
Morningstar, Inc., unless otherwise noted.   
 
You can obtain a free copy of Vanguard’s proxy voting   
guidelines by visiting our website, www.vanguard.com,   
and searching for “proxy voting guidelines,” or by calling   
Vanguard at 800-662-2739. The guidelines are also   
available from the SEC’s website, www.sec.gov. In   
addition, you may obtain a free report on how your fund   
voted the proxies for securities it owned during the 12   
months ended June 30. To get the report, visit either   
www.vanguard.com or www.sec.gov.   
 
You can review and copy information about your fund at   
the SEC’s Public Reference Room in Washington, D.C. To   
find out more about this public service, call the SEC at   
202-551-8090. Information about your fund is also   
available on the SEC’s website, and you can receive   
copies of this information, for a fee, by sending a   
request in either of two ways: via e-mail addressed to   
publicinfo@sec.gov or via regular mail addressed to the   
Public Reference Section, Securities and Exchange   
Commission, Washington, DC 20549-1520.   


 

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Q480 022010


Vanguard® Small-Cap Index Fund
Schedule of Investments
December 31, 2009

      Market 
      Value 
    Shares  ($000) 
 
Common Stocks (99.7%)1     
Consumer Discretionary (14.6%)     
  Tupperware Brands Corp.  849,585  39,565 
  Jarden Corp.  1,193,752  36,899 
*  DreamWorks Animation SKG Inc. Class A  914,241  36,524 
*  Chico's FAS Inc.  2,391,877  33,606 
  Gentex Corp.  1,858,411  33,173 
  RadioShack Corp.  1,688,840  32,932 
*  Big Lots Inc.  1,113,717  32,276 
*  Sirius XM Radio Inc.  52,522,874  31,514 
*  Aeropostale Inc.  910,260  30,994 
*  Hanesbrands Inc.  1,278,200  30,817 
*  J Crew Group Inc.  678,595  30,360 
*  Dick's Sporting Goods Inc.  1,179,583  29,336 
*  Liberty Media Corp. - Capital  1,212,432  28,953 
*  Bally Technologies Inc.  699,946  28,901 
  Phillips-Van Heusen Corp.  695,989  28,313 
  Service Corp. International  3,386,588  27,736 
*  WMS Industries Inc.  681,040  27,242 
*  Panera Bread Co. Class A  402,152  26,932 
*  Career Education Corp.  1,148,981  26,783 
*  Warnaco Group Inc.  612,847  25,856 
  Williams-Sonoma Inc.  1,212,518  25,196 
  John Wiley & Sons Inc. Class A  593,000  24,835 
*  Office Depot Inc.  3,706,572  23,907 
*  Tractor Supply Co.  437,415  23,165 
*  New York Times Co. Class A  1,841,400  22,760 
*  TRW Automotive Holdings Corp.  934,625  22,319 
*  Tempur-Pedic International Inc.  909,500  21,491 
*  Fossil Inc.  629,539  21,127 
  Sotheby's  902,495  20,288 
*  Brink's Home Security Holdings Inc.  617,471  20,154 
*  Carter's Inc.  766,076  20,109 
*  Collective Brands Inc.  864,692  19,689 
*  Dana Holding Corp.  1,810,565  19,627 
  Jones Apparel Group Inc.  1,152,164  18,504 
  Polaris Industries Inc.  418,281  18,250 
  Wolverine World Wide Inc.  664,927  18,099 
*  Deckers Outdoor Corp.  177,106  18,015 
*  Dress Barn Inc.  776,569  17,939 
*  Gymboree Corp.  399,696  17,383 
  Aaron's Inc.  626,403  17,370 
*  Cheesecake Factory Inc.  770,968  16,645 
  Regal Entertainment Group Class A  1,142,574  16,499 
*  Rent-A-Center Inc.  890,948  15,788 
  MDC Holdings Inc.  506,831  15,732 
  Hillenbrand Inc.  834,117  15,715 
*  Lululemon Athletica Inc.  520,951  15,681 
*,^  Corinthian Colleges Inc.  1,116,473  15,374 
*  Eastman Kodak Co.  3,618,497  15,270 
  Thor Industries Inc.  486,175  15,266 
*  Jack in the Box Inc.  772,037  15,186 
  Cooper Tire & Rubber Co.  755,694  15,152 
  Brunswick Corp.  1,190,783  15,135 
  Meredith Corp.  482,912  14,898 
  KB Home  1,069,355  14,629 
  Matthews International Corp. Class A  409,297  14,501 
*  Capella Education Co.  191,732  14,437 
*  Tenneco Inc.  800,860  14,199 
  Choice Hotels International Inc.  445,766  14,113 
  Men's Wearhouse Inc.  667,732  14,062 
  Dillard's Inc. Class A  753,564  13,903 
*  Scientific Games Corp. Class A  938,352  13,653 

1


Vanguard® Small-Cap Index Fund
Schedule of Investments
December 31, 2009

      Market 
      Value 
    Shares  ($000) 
*  Skechers U.S.A. Inc. Class A  453,945  13,351 
*  OfficeMax Inc.  1,029,223  13,061 
*  Vail Resorts Inc.  343,980  13,002 
*  Jo-Ann Stores Inc.  356,765  12,929 
  Interactive Data Corp.  506,700  12,819 
*  Morningstar Inc.  261,103  12,622 
  Scholastic Corp.  421,433  12,571 
  Pool Corp.  657,260  12,541 
*  Life Time Fitness Inc.  501,602  12,505 
*,^  Under Armour Inc. Class A  455,144  12,412 
*  Blue Nile Inc.  195,972  12,411 
*  Gaylord Entertainment Co.  620,282  12,251 
*  Saks Inc.  1,861,020  12,208 
*  Iconix Brand Group Inc.  962,972  12,182 
  Bob Evans Farms Inc.  418,035  12,102 
  Regis Corp.  770,333  11,994 
*  Valassis Communications Inc.  648,705  11,845 
  NutriSystem Inc.  375,603  11,708 
  Ryland Group Inc.  591,044  11,644 
  Cracker Barrel Old Country Store Inc.  305,072  11,590 
*  HSN Inc.  570,150  11,511 
*  Coinstar Inc.  411,444  11,430 
*  PF Chang's China Bistro Inc.  299,382  11,350 
*  Childrens Place Retail Stores Inc.  339,468  11,206 
^  Buckle Inc.  374,548  10,967 
*  AnnTaylor Stores Corp.  792,156  10,805 
  International Speedway Corp. Class A  377,749  10,747 
*  ArvinMeritor Inc.  947,777  10,596 
  American Greetings Corp. Class A  484,562  10,559 
*  Orient-Express Hotels Ltd. Class A  1,036,515  10,510 
*  JOS A Bank Clothiers Inc.  246,717  10,409 
^  Barnes & Noble Inc.  538,671  10,272 
*  Timberland Co. Class A  572,425  10,264 
*  Charming Shoppes Inc.  1,556,982  10,074 
*  CEC Entertainment Inc.  311,398  9,940 
*  Helen of Troy Ltd.  385,317  9,425 
  National CineMedia Inc.  568,209  9,415 
  Unifirst Corp.  194,428  9,354 
*  Buffalo Wild Wings Inc.  230,996  9,302 
*  Group 1 Automotive Inc.  325,964  9,241 
*,^  Lions Gate Entertainment Corp.  1,580,868  9,185 
*  CTC Media Inc.  615,763  9,175 
*  Steven Madden Ltd.  219,496  9,052 
  Finish Line Inc. Class A  693,263  8,700 
*  Hibbett Sports Inc.  386,168  8,492 
*  Sally Beauty Holdings Inc.  1,105,468  8,457 
*  99 Cents Only Stores  646,616  8,451 
*  Penske Auto Group Inc.  555,571  8,434 
  Arbitron Inc.  357,622  8,375 
  Monro Muffler Brake Inc.  250,050  8,362 
*  Genesco Inc.  300,422  8,250 
*  Live Nation Inc.  958,729  8,159 
*  American Public Education Inc.  233,084  8,009 
*  Sonic Corp.  782,219  7,877 
*  Texas Roadhouse Inc. Class A  700,252  7,864 
*  Meritage Homes Corp.  405,813  7,844 
*  Fuel Systems Solutions Inc.  189,701  7,823 
*,^  Cabela's Inc.  542,703  7,739 
  Cato Corp. Class A  374,676  7,516 
*  Steiner Leisure Ltd.  186,771  7,426 
*  Pinnacle Entertainment Inc.  809,930  7,273 
*  Exide Technologies  1,018,306  7,240 
*  Liz Claiborne Inc.  1,282,169  7,219 
*  Modine Manufacturing Co.  606,718  7,184 

2


Vanguard® Small-Cap Index Fund
Schedule of Investments
December 31, 2009

      Market 
      Value 
    Shares  ($000) 
  Columbia Sportswear Co.  182,871  7,139 
*  Papa John's International Inc.  302,695  7,071 
  National Presto Industries Inc.  64,709  7,068 
*  Federal Mogul Corp.  402,667  6,966 
*,^  American Axle & Manufacturing Holdings Inc.  844,520  6,773 
*  CROCS Inc.  1,158,553  6,662 
*  Interval Leisure Group Inc.  531,796  6,631 
*  La-Z-Boy Inc.  693,965  6,613 
*  Ticketmaster Entertainment Inc.  540,916  6,610 
  Belo Corp. Class A  1,212,209  6,594 
  Callaway Golf Co.  869,225  6,554 
*  Ulta Salon Cosmetics & Fragrance Inc.  350,309  6,362 
  Cinemark Holdings Inc.  441,963  6,351 
  Stage Stores Inc.  512,813  6,338 
*  Boyd Gaming Corp.  754,270  6,313 
*  Pier 1 Imports Inc.  1,219,435  6,207 
  Harte-Hanks Inc.  556,682  6,001 
*  True Religion Apparel Inc.  324,369  5,998 
  PEP Boys-Manny Moe & Jack  704,661  5,961 
*  Shuffle Master Inc.  722,348  5,952 
*  Ruby Tuesday Inc.  824,329  5,935 
*  Peet's Coffee & Tea Inc.  175,561  5,851 
  Brown Shoe Co. Inc.  577,884  5,704 
*  Drew Industries Inc.  276,166  5,703 
  Stewart Enterprises Inc. Class A  1,079,988  5,562 
*  hhgregg Inc.  250,593  5,521 
*  Citi Trends Inc.  198,867  5,493 
*  Universal Technical Institute Inc.  271,364  5,482 
  Sonic Automotive Inc. Class A  521,751  5,421 
^  PetMed Express Inc.  307,358  5,419 
*  Steak N Shake Co.  16,559  5,367 
  Ameristar Casinos Inc.  351,176  5,348 
  CKE Restaurants Inc.  624,651  5,285 
*  RCN Corp.  484,899  5,261 
  Fred's Inc. Class A  514,917  5,252 
*  DSW Inc. Class A  197,657  5,115 
*  Standard Pacific Corp.  1,363,897  5,101 
*  Asbury Automotive Group Inc.  436,661  5,035 
*  Domino's Pizza Inc.  584,900  4,901 
*  Lumber Liquidators Inc.  182,559  4,893 
*  DineEquity Inc.  201,254  4,888 
  Churchill Downs Inc.  129,761  4,847 
*  Winnebago Industries  391,461  4,776 
*  BJ's Restaurants Inc.  253,480  4,770 
*,^  K12 Inc.  234,995  4,763 
  Big 5 Sporting Goods Corp.  276,864  4,757 
  Ethan Allen Interiors Inc.  352,284  4,728 
  World Wrestling Entertainment Inc. Class A  306,890  4,705 
  Superior Industries International Inc.  306,865  4,695 
*  Ascent Media Corp. Class A  181,625  4,637 
*  Shutterfly Inc.  257,430  4,585 
*  Jakks Pacific Inc.  378,090  4,582 
*  Knology Inc.  414,732  4,541 
*  Maidenform Brands Inc.  268,478  4,481 
*,^  iRobot Corp.  253,885  4,468 
*  Wet Seal Inc. Class A  1,248,338  4,307 
*  Universal Electronics Inc.  185,102  4,298 
*  California Pizza Kitchen Inc.  310,547  4,177 
*  Core-Mark Holding Co. Inc.  126,608  4,173 
*  RC2 Corp.  281,973  4,159 
*  Grand Canyon Education Inc.  215,989  4,106 
*,^  Fuqi International Inc.  223,848  4,018 
*  Pre-Paid Legal Services Inc.  96,428  3,961 
*  Lincoln Educational Services Corp.  181,988  3,944 

3


Vanguard® Small-Cap Index Fund
Schedule of Investments
December 31, 2009

      Market 
      Value 
    Shares  ($000) 
*  Volcom Inc.  230,988  3,867 
  Oxford Industries Inc.  184,700  3,820 
*  FGX International Holdings Ltd.  194,713  3,814 
*  HOT Topic Inc.  596,894  3,796 
*  Bridgepoint Education Inc.  252,108  3,787 
*  Red Robin Gourmet Burgers Inc.  210,631  3,770 
*  Orbitz Worldwide Inc.  510,069  3,744 
  Christopher & Banks Corp.  486,632  3,708 
*  Stein Mart Inc.  347,501  3,704 
  Marcus Corp.  284,352  3,645 
*  Zumiez Inc.  285,828  3,636 
  K-Swiss Inc. Class A  363,001  3,608 
*  Coldwater Creek Inc.  804,613  3,589 
  Speedway Motorsports Inc.  201,799  3,556 
*  Warner Music Group Corp.  627,974  3,554 
*  America's Car-Mart Inc.  134,948  3,553 
*  Pacific Sunwear Of California  892,415  3,552 
*  Retail Ventures Inc.  395,887  3,519 
*  Quiksilver Inc.  1,736,926  3,509 
*  Landry's Restaurants Inc.  152,987  3,257 
  Haverty Furniture Cos. Inc.  235,963  3,240 
*  Dolan Media Co.  305,428  3,118 
  Ambassadors Group Inc.  229,357  3,048 
*,^  Talbots Inc.  336,988  3,003 
*  CKX Inc.  566,787  2,987 
*  Smith & Wesson Holding Corp.  724,510  2,963 
*,^  Overstock.com Inc.  216,342  2,934 
*  Furniture Brands International Inc.  528,069  2,883 
*  Denny's Corp.  1,307,276  2,863 
  Blyth Inc.  84,348  2,844 
*  AFC Enterprises Inc.  342,449  2,794 
*  EW Scripps Co. Class A  399,575  2,781 
*,^  Hovnanian Enterprises Inc. Class A  720,719  2,768 
*  Dorman Products Inc.  167,051  2,616 
  Sinclair Broadcast Group Inc. Class A  640,848  2,583 
  Sturm Ruger & Co. Inc.  258,645  2,509 
*  M/I Homes Inc.  238,075  2,474 
*  Unifi Inc.  630,170  2,445 
*  Beazer Homes USA Inc.  504,853  2,443 
*  Mediacom Communications Corp. Class A  544,007  2,432 
  Spartan Motors Inc.  421,202  2,371 
  Weyco Group Inc.  99,667  2,356 
  Movado Group Inc.  241,217  2,345 
*  Krispy Kreme Doughnuts Inc.  776,971  2,292 
  Bebe Stores Inc.  351,856  2,206 
  Journal Communications Inc. Class A  553,883  2,155 
  CSS Industries Inc.  103,915  2,020 
*  Sealy Corp.  620,340  1,960 
*  Wonder Auto Technology Inc.  164,771  1,938 
*  Leapfrog Enterprises Inc.  469,071  1,834 
*  Martha Stewart Living Omnimedia Class A  362,558  1,791 
*  Isle of Capri Casinos Inc.  238,299  1,782 
  Jackson Hewitt Tax Service Inc.  389,842  1,715 
*  LIN TV Corp. Class A  379,370  1,692 
*  Gaiam Inc. Class A  215,909  1,660 
*  Morgans Hotel Group Co.  363,386  1,646 
*  Stamps.com Inc.  174,774  1,573 
  Systemax Inc.  99,821  1,568 
*  New York & Co. Inc.  363,153  1,558 
*  Fisher Communications Inc.  95,573  1,553 
*  American Apparel Inc.  435,768  1,351 
*  Kenneth Cole Productions Inc. Class A  129,268  1,247 
*,^  Zale Corp.  433,098  1,178 
*,^  Brookfield Homes Corp.  145,244  1,162 

4


Vanguard® Small-Cap Index Fund
Schedule of Investments
December 31, 2009

      Market 
      Value 
    Shares  ($000) 
*  Outdoor Channel Holdings Inc.  191,848  1,113 
*  Monarch Casino & Resort Inc.  131,204  1,063 
*  Build-A-Bear Workshop Inc.  214,466  1,049 
*  Borders Group Inc.  819,654  967 
*  1-800-Flowers.com Inc. Class A  364,971  967 
*,^  Blockbuster Inc. Class A  1,425,391  955 
*,^  Raser Technologies Inc.  658,554  817 
*,^  Conn's Inc.  138,882  811 
  Dover Downs Gaming & Entertainment Inc.  198,674  751 
  Marine Products Corp.  150,795  743 
*  Blockbuster Inc. Class B  997,760  589 
*  Krispy Kreme Doughnuts Inc. Warrants Exp. 3/2/12  7,748  — 
      2,520,681 
Consumer Staples (3.6%)     
*  Green Mountain Coffee Roasters Inc.  469,354  38,238 
  Herbalife Ltd.  832,161  33,761 
*  NBTY Inc.  751,278  32,711 
  Del Monte Foods Co.  2,668,446  30,260 
  Corn Products International Inc.  1,007,055  29,436 
*  Central European Distribution Corp.  877,588  24,932 
*  BJ's Wholesale Club Inc.  748,834  24,494 
  Casey's General Stores Inc.  686,362  21,909 
*,^  Chattem Inc.  230,829  21,536 
  Nu Skin Enterprises Inc. Class A  679,671  18,263 
*  TreeHouse Foods Inc.  429,261  16,681 
  Universal Corp.  334,783  15,269 
*  United Natural Foods Inc.  551,038  14,735 
  Ruddick Corp.  556,412  14,316 
*  Fresh Del Monte Produce Inc.  600,712  13,276 
  Lancaster Colony Corp.  265,358  13,188 
*  Rite Aid Corp.  8,357,415  12,620 
*  Chiquita Brands International Inc.  600,849  10,839 
*  Bare Escentuals Inc.  868,715  10,624 
*  American Italian Pasta Co.  282,809  9,839 
  Sanderson Farms Inc.  233,050  9,825 
*  Darling International Inc.  1,109,255  9,296 
  Lance Inc.  345,087  9,076 
*  Hain Celestial Group Inc.  521,347  8,868 
  Vector Group Ltd.  612,507  8,575 
  Tootsie Roll Industries Inc.  292,122  7,998 
  J&J Snack Foods Corp.  198,950  7,950 
  Diamond Foods Inc.  222,320  7,901 
*  Winn-Dixie Stores Inc.  737,910  7,409 
*  Heckmann Corp.  1,390,482  6,938 
  WD-40 Co.  211,268  6,837 
  Nash Finch Co.  172,935  6,414 
  Andersons Inc.  245,832  6,347 
*  Central Garden and Pet Co. Class A  614,817  6,111 
*  Boston Beer Co. Inc. Class A  128,490  5,988 
  Weis Markets Inc.  163,788  5,955 
  Cal-Maine Foods Inc.  172,844  5,891 
  B&G Foods Inc. Class A  617,704  5,670 
*  Zhongpin Inc.  359,813  5,617 
*  Alliance One International Inc.  1,140,866  5,567 
*  Great Atlantic & Pacific Tea Co.  467,942  5,517 
*  Smart Balance Inc.  805,637  4,834 
*  Elizabeth Arden Inc.  332,241  4,798 
  Spartan Stores Inc.  303,683  4,340 
*  Pantry Inc.  304,531  4,139 
  Pricesmart Inc.  200,731  4,103 
*  Prestige Brands Holdings Inc.  507,097  3,986 
*,^  American Oriental Bioengineering Inc.  848,163  3,944 
  Coca-Cola Bottling Co. Consolidated  62,786  3,392 
*,^  China Sky One Medical Inc.  146,249  3,327 

5


Vanguard® Small-Cap Index Fund
Schedule of Investments
December 31, 2009

      Market 
      Value 
    Shares  ($000) 
*  Revlon Inc. Class A  163,878  2,788 
*,^  American Dairy Inc.  127,551  2,765 
*  Central Garden and Pet Co.  252,486  2,702 
*  USANA Health Sciences Inc.  84,273  2,688 
  Calavo Growers Inc.  146,491  2,490 
  Inter Parfums Inc.  204,131  2,484 
  Ingles Markets Inc. Class A  156,723  2,371 
*  National Beverage Corp.  154,541  2,142 
*,^  AgFeed Industries Inc.  398,920  1,995 
  Village Super Market Inc. Class A  71,003  1,940 
  Farmer Bros Co.  97,865  1,932 
  Arden Group Inc.  17,139  1,639 
*  China-Biotics Inc.  92,348  1,429 
  Alico Inc.  50,097  1,426 
*  Susser Holdings Corp.  116,581  1,001 
      625,332 
Energy (6.1%)     
*  Whiting Petroleum Corp.  685,882  49,006 
  Core Laboratories NV  294,329  34,766 
  Southern Union Co.  1,506,356  34,194 
*  Encore Acquisition Co.  711,926  34,187 
*  Atlas Energy Inc.  1,001,270  30,208 
  St Mary Land & Exploration Co.  843,189  28,871 
*  Atwood Oceanics Inc.  779,462  27,944 
*  Oil States International Inc.  669,888  26,320 
*  Unit Corp.  609,004  25,883 
*  Superior Energy Services Inc.  1,054,894  25,623 
*  Comstock Resources Inc.  628,957  25,517 
*  Dril-Quip Inc.  421,276  23,794 
*  Arena Resources Inc.  517,431  22,312 
  World Fuel Services Corp.  759,534  20,348 
*  SEACOR Holdings Inc.  258,866  19,739 
*  Brigham Exploration Co.  1,335,907  18,102 
  CARBO Ceramics Inc.  264,280  18,016 
*,^  Patriot Coal Corp.  1,157,593  17,896 
*  Exterran Holdings Inc.  800,876  17,179 
*  Bill Barrett Corp.  551,957  17,171 
  Frontier Oil Corp.  1,413,233  17,015 
*  Mariner Energy Inc.  1,374,007  15,952 
*  Gran Tierra Energy Inc.  2,778,828  15,923 
*  Helix Energy Solutions Group Inc.  1,325,526  15,575 
  Overseas Shipholding Group Inc.  344,336  15,134 
  Holly Corp.  576,169  14,767 
*  Key Energy Services Inc.  1,673,519  14,710 
  Lufkin Industries Inc.  200,512  14,677 
*  Bristow Group Inc.  376,263  14,467 
  Berry Petroleum Co. Class A  491,100  14,316 
*  Rosetta Resources Inc.  706,283  14,076 
  Penn Virginia Corp.  612,305  13,036 
*  Swift Energy Co.  493,527  11,825 
*  Tetra Technologies Inc.  1,016,318  11,261 
*,^  ATP Oil & Gas Corp.  608,042  11,115 
*  BPZ Resources Inc.  1,148,385  10,910 
*  Complete Production Services Inc.  832,642  10,824 
*  Enbridge Energy Management LLC  188,715  10,025 
*  Carrizo Oil & Gas Inc.  376,991  9,986 
*  Stone Energy Corp.  550,772  9,941 
*  Global Industries Ltd.  1,382,642  9,858 
*  Cal Dive International Inc.  1,254,003  9,480 
*  Willbros Group Inc.  534,537  9,018 
*  ION Geophysical Corp.  1,516,701  8,979 
*  McMoRan Exploration Co.  1,044,471  8,377 
*  Contango Oil & Gas Co.  170,707  8,025 
*,^  Goodrich Petroleum Corp.  327,848  7,983 

6


Vanguard® Small-Cap Index Fund
Schedule of Investments
December 31, 2009

      Market 
      Value 
    Shares  ($000) 
*  Gulfmark Offshore Inc.  278,750  7,891 
  Energy XXI Bermuda Ltd.  3,368,732  7,782 
*  Parker Drilling Co.  1,564,971  7,747 
*  Hornbeck Offshore Services Inc.  316,555  7,369 
*  Hercules Offshore Inc.  1,528,483  7,306 
*  James River Coal Co.  371,361  6,881 
*  International Coal Group Inc.  1,766,525  6,819 
*,^  Clean Energy Fuels Corp.  442,467  6,818 
*  USEC Inc.  1,516,931  5,840 
*  Pioneer Drilling Co.  729,140  5,760 
*  Tesco Corp.  430,360  5,556 
*,^  GMX Resources Inc.  399,313  5,487 
  W&T Offshore Inc.  462,793  5,415 
*  Newpark Resources Inc.  1,203,487  5,091 
  General Maritime Corp.  666,099  4,656 
*  Petroquest Energy Inc.  757,018  4,641 
*  Petroleum Development Corp.  252,618  4,600 
*  T-3 Energy Services Inc.  175,391  4,472 
*  Superior Well Services Inc.  302,546  4,314 
*  Gulfport Energy Corp.  375,508  4,300 
*  Oilsands Quest Inc.  3,658,593  4,207 
*  Venoco Inc.  319,626  4,168 
  RPC Inc.  399,730  4,157 
*  Rex Energy Corp.  324,164  3,890 
*  Northern Oil and Gas Inc.  323,089  3,825 
*  Matrix Service Co.  354,650  3,777 
*  Clayton Williams Energy Inc.  106,776  3,741 
  Gulf Island Fabrication Inc.  174,124  3,662 
  Vaalco Energy Inc.  786,924  3,581 
*  Seahawk Drilling Inc.  157,032  3,540 
*  PHI Inc.  168,584  3,490 
*  Western Refining Inc.  720,783  3,395 
  Crosstex Energy Inc.  534,986  3,237 
*  CVR Energy Inc.  467,123  3,204 
*  Allis-Chalmers Energy Inc.  822,048  3,099 
*  OYO Geospace Corp.  64,128  2,750 
*  Uranium Energy Corp.  721,395  2,727 
*  Gastar Exploration Ltd.  566,307  2,713 
*  Basic Energy Services Inc.  301,516  2,683 
*,^  Delta Petroleum Corp.  2,436,275  2,534 
*  Dawson Geophysical Co.  105,857  2,446 
*  Harvest Natural Resources Inc.  448,916  2,375 
*  Warren Resources Inc.  909,903  2,229 
*  Cheniere Energy Inc.  727,356  1,760 
*  Bronco Drilling Co. Inc.  346,791  1,758 
*  Endeavour International Corp.  1,486,841  1,606 
*  Approach Resources Inc.  169,193  1,306 
  Delek US Holdings Inc.  182,364  1,242 
  Alon USA Energy Inc.  125,538  859 
*,^  Sulphco Inc.  912,330  611 
      1,047,648 
Financials (19.9%)     
*  MSCI Inc. Class A  1,350,974  42,961 
  Alexandria Real Estate Equities Inc.  585,944  37,670 
  Senior Housing Properties Trust  1,712,870  37,461 
  Assured Guaranty Ltd.  1,705,026  37,101 
  Camden Property Trust  865,157  36,657 
  Mack-Cali Realty Corp.  1,056,815  36,534 
  Waddell & Reed Financial Inc.  1,158,647  35,385 
  First Niagara Financial Group Inc.  2,470,506  34,365 
*  AmeriCredit Corp.  1,798,262  34,239 
  Jones Lang LaSalle Inc.  563,597  34,041 
  Chimera Investment Corp.  8,590,495  33,331 
  Highwoods Properties Inc.  956,022  31,883 

7


Vanguard® Small-Cap Index Fund
Schedule of Investments
December 31, 2009

      Market 
      Value 
    Shares  ($000) 
  Essex Property Trust Inc.  380,354  31,817 
  Arthur J Gallagher & Co.  1,367,116  30,774 
  Hanover Insurance Group Inc.  686,136  30,485 
  Bank of Hawaii Corp.  645,988  30,400 
  Corporate Office Properties Trust SBI  782,677  28,670 
  Aspen Insurance Holdings Ltd.  1,120,363  28,513 
  Washington Federal Inc.  1,471,910  28,467 
  MFA Financial Inc.  3,680,186  27,049 
  StanCorp Financial Group Inc.  663,189  26,541 
*  E*Trade Financial Corp.  15,068,455  26,370 
  Allied World Assurance Co. Holdings Ltd.  568,322  26,183 
  Valley National Bancorp  1,833,003  25,900 
  Taubman Centers Inc.  716,699  25,737 
  Platinum Underwriters Holdings Ltd.  671,518  25,712 
  Apartment Investment & Management Co.  1,579,113  25,140 
  Endurance Specialty Holdings Ltd.  654,826  24,379 
  BancorpSouth Inc.  1,012,790  23,760 
  BRE Properties Inc.  712,587  23,572 
  National Retail Properties Inc.  1,088,936  23,107 
*  SVB Financial Group  549,494  22,908 
  Prosperity Bancshares Inc.  560,072  22,666 
  Apollo Investment Corp.  2,370,565  22,592 
*  ProAssurance Corp.  419,068  22,508 
  FirstMerit Corp.  1,113,720  22,430 
  Omega Healthcare Investors Inc.  1,123,412  21,850 
  Westamerica Bancorporation  394,114  21,822 
*  Alleghany Corp.  79,044  21,816 
  Washington Real Estate Investment Trust  785,871  21,651 
*  Stifel Financial Corp.  364,887  21,616 
  Home Properties Inc.  445,817  21,270 
  Tanger Factory Outlet Centers  537,121  20,942 
  BioMed Realty Trust Inc.  1,323,774  20,889 
  Fulton Financial Corp.  2,375,076  20,711 
  Entertainment Properties Trust  566,845  19,993 
  American Campus Communities Inc.  704,114  19,786 
  Brandywine Realty Trust  1,728,504  19,705 
  Equity Lifestyle Properties Inc.  388,515  19,608 
  HRPT Properties Trust  3,018,170  19,528 
  Popular Inc.  8,635,175  19,516 
  Montpelier Re Holdings Ltd.  1,107,164  19,176 
*  Forest City Enterprises Inc. Class A  1,623,807  19,128 
  Protective Life Corp.  1,154,623  19,109 
  Douglas Emmett Inc.  1,311,219  18,685 
*  Knight Capital Group Inc. Class A  1,199,725  18,476 
  Mid-America Apartment Communities Inc.  380,745  18,382 
  LaSalle Hotel Properties  857,424  18,203 
  Ares Capital Corp.  1,459,103  18,166 
  Trustmark Corp.  805,440  18,155 
  Kilroy Realty Corp.  582,069  17,852 
*,^  Federal National Mortgage Assn.  15,003,138  17,704 
*  Signature Bank  547,617  17,469 
  Healthcare Realty Trust Inc.  800,788  17,185 
  Developers Diversified Realty Corp.  1,850,355  17,134 
  CBL & Associates Properties Inc.  1,768,367  17,100 
  Hancock Holding Co.  390,474  17,099 
  Potlatch Corp.  536,126  17,092 
  Erie Indemnity Co. Class A  414,879  16,189 
  UMB Financial Corp.  410,946  16,171 
*  Conseco Inc.  3,156,663  15,783 
  East West Bancorp Inc.  989,069  15,627 
  NewAlliance Bancshares Inc.  1,296,611  15,572 
  Northwest Bancshares Inc.  1,342,078  15,192 
  Umpqua Holdings Corp.  1,124,069  15,074 
  Zenith National Insurance Corp.  503,883  14,996 

8


Vanguard® Small-Cap Index Fund
Schedule of Investments
December 31, 2009

      Market 
      Value 
    Shares  ($000) 
  Unitrin Inc.  673,354  14,848 
  Max Capital Group Ltd.  648,827  14,469 
  Delphi Financial Group Inc.  643,461  14,394 
  Redwood Trust Inc.  995,195  14,391 
  Iberiabank Corp.  263,657  14,187 
  Old National Bancorp  1,139,607  14,165 
  Franklin Street Properties Corp.  952,863  13,921 
  Cash America International Inc.  397,397  13,893 
  CapitalSource Inc.  3,489,543  13,854 
  DCT Industrial Trust Inc.  2,756,653  13,838 
  Astoria Financial Corp.  1,112,808  13,832 
  Hatteras Financial Corp.  488,390  13,655 
*  Piper Jaffray Cos.  265,378  13,431 
  EastGroup Properties Inc.  349,639  13,384 
  Tower Group Inc.  570,477  13,355 
  RLI Corp.  247,815  13,196 
  International Bancshares Corp.  690,132  13,064 
  Sovran Self Storage Inc.  363,779  12,998 
  American National Insurance Co.  108,419  12,950 
  PS Business Parks Inc.  257,731  12,899 
*,^  Federal Home Loan Mortgage Corp.  8,733,751  12,839 
  Extra Space Storage Inc.  1,107,805  12,795 
  Post Properties Inc.  645,940  12,660 
  DiamondRock Hospitality Co.  1,456,631  12,338 
  MB Financial Inc.  621,871  12,263 
  First Financial Bankshares Inc.  224,581  12,179 
*  Argo Group International Holdings Ltd.  416,502  12,137 
  Capstead Mortgage Corp.  877,834  11,982 
  Synovus Financial Corp.  5,832,643  11,957 
*  PHH Corp.  735,554  11,850 
  Selective Insurance Group  715,151  11,764 
  National Health Investors Inc.  316,291  11,700 
*  Investment Technology Group Inc.  587,906  11,582 
*  KBW Inc.  422,961  11,572 
  Wilmington Trust Corp.  925,072  11,415 
  Sunstone Hotel Investors Inc.  1,283,799  11,400 
  Whitney Holding Corp.  1,250,440  11,392 
  Glacier Bancorp Inc.  829,962  11,387 
^  United Bankshares Inc.  556,384  11,111 
  Medical Properties Trust Inc.  1,081,525  10,815 
  FNB Corp.  1,537,427  10,439 
  Webster Financial Corp.  873,899  10,373 
^  Prospect Capital Corp.  862,866  10,190 
  Anworth Mortgage Asset Corp.  1,451,685  10,162 
  DuPont Fabros Technology Inc.  562,803  10,125 
*  Forestar Group Inc.  459,562  10,101 
  Wintrust Financial Corp.  324,529  9,992 
  CVB Financial Corp.  1,143,804  9,883 
*  Interactive Brokers Group Inc.  555,989  9,852 
*  MGIC Investment Corp.  1,687,661  9,755 
  Colonial Properties Trust  829,370  9,729 
  First Citizens BancShares Inc. Class A  59,051  9,685 
*  MF Global Ltd.  1,391,212  9,669 
  NBT Bancorp Inc.  462,633  9,424 
^  Equity One Inc.  582,253  9,415 
  Employers Holdings Inc.  611,274  9,377 
*  Portfolio Recovery Associates Inc.  207,713  9,322 
^  American Capital Ltd.  3,815,737  9,310 
*  Ocwen Financial Corp.  966,385  9,248 
*  Navigators Group Inc.  194,343  9,156 
  Financial Federal Corp.  331,619  9,120 
  First Financial Bancorp  624,458  9,092 
  National Penn Bancshares Inc.  1,568,205  9,080 
  optionsXpress Holdings Inc.  584,092  9,024 

9


Vanguard® Small-Cap Index Fund
Schedule of Investments
December 31, 2009

      Market 
      Value 
    Shares  ($000) 
  Park National Corp.  152,706  8,991 
*  Pico Holdings Inc.  274,309  8,978 
*  MBIA Inc.  2,244,775  8,934 
*  Allied Capital Corp.  2,414,878  8,718 
  Investors Real Estate Trust  968,383  8,715 
  Cousins Properties Inc.  1,137,570  8,680 
  Acadia Realty Trust  508,506  8,579 
  Community Bank System Inc.  441,599  8,527 
*  Ezcorp Inc. Class A  493,004  8,485 
*  Alexander's Inc.  27,526  8,380 
  Inland Real Estate Corp.  1,023,452  8,341 
  PacWest Bancorp  410,529  8,272 
  Radian Group Inc.  1,114,378  8,146 
*  Enstar Group Ltd.  109,961  8,029 
  Brookline Bancorp Inc.  796,107  7,889 
  U-Store-It Trust  1,076,213  7,878 
  American Capital Agency Corp.  295,059  7,831 
  Provident Financial Services Inc.  726,494  7,737 
  Lexington Realty Trust  1,265,148  7,692 
*  Dollar Financial Corp.  324,801  7,685 
*  Investors Bancorp Inc.  694,754  7,601 
  LTC Properties Inc.  281,327  7,526 
  Infinity Property & Casualty Corp.  183,613  7,462 
  First Midwest Bancorp Inc.  663,028  7,220 
*  First Cash Financial Services Inc.  321,359  7,131 
*  Hilltop Holdings Inc.  609,229  7,091 
*  World Acceptance Corp.  196,873  7,054 
  City Holding Co.  215,137  6,955 
  Susquehanna Bancshares Inc.  1,163,814  6,855 
  Chemical Financial Corp.  289,793  6,833 
  PrivateBancorp Inc. Class A  749,180  6,720 
*  Greenlight Capital Re Ltd. Class A  283,235  6,676 
  Nelnet Inc. Class A  387,363  6,674 
*  Riskmetrics Group Inc.  417,472  6,642 
  Horace Mann Educators Corp.  528,124  6,602 
  Trustco Bank Corp.  1,031,630  6,499 
  BlackRock Kelso Capital Corp.  759,488  6,471 
*  Texas Capital Bancshares Inc.  457,422  6,386 
  Safety Insurance Group Inc.  175,651  6,364 
*  Credit Acceptance Corp.  145,534  6,127 
  Parkway Properties Inc.  291,295  6,065 
  Home Bancshares Inc.  251,312  6,049 
*  Pinnacle Financial Partners Inc.  421,491  5,994 
  Saul Centers Inc.  180,721  5,920 
  Harleysville Group Inc.  185,998  5,913 
  Getty Realty Corp.  250,147  5,886 
  Cathay General Bancorp  776,625  5,864 
  Columbia Banking System Inc.  360,959  5,840 
  Evercore Partners Inc. Class A  189,877  5,772 
  Sterling Bancshares Inc.  1,101,927  5,653 
  MarketAxess Holdings Inc.  406,116  5,645 
  National Western Life Insurance Co. Class A  32,418  5,628 
  Flagstone Reinsurance Holdings Ltd.  514,392  5,627 
  United Fire & Casualty Co.  304,276  5,547 
  American Equity Investment Life Holding Co.  733,228  5,455 
  Meadowbrook Insurance Group Inc.  734,818  5,438 
*,^  GLG Partners Inc.  1,685,462  5,427 
  S&T Bancorp Inc.  316,533  5,384 
  Bank of the Ozarks Inc.  182,715  5,348 
  Independent Bank Corp.  254,854  5,324 
  Simmons First National Corp. Class A  191,075  5,312 
  Nara Bancorp Inc.  467,145  5,297 
  Cohen & Steers Inc.  228,371  5,216 
  Maiden Holdings Ltd.  711,848  5,211 

10


Vanguard® Small-Cap Index Fund
Schedule of Investments
December 31, 2009

      Market 
      Value 
    Shares  ($000) 
  Fifth Street Finance Corp.  477,233  5,126 
  Boston Private Financial Holdings Inc.  882,322  5,091 
*  Tejon Ranch Co.  172,588  5,043 
  Compass Diversified Holdings  394,370  5,032 
  Hercules Technology Growth Capital Inc.  479,977  4,987 
  Duff & Phelps Corp. Class A  268,914  4,910 
  Universal Health Realty Income Trust  153,081  4,903 
  Walter Investment Management Corp.  337,103  4,831 
  First Potomac Realty Trust  383,530  4,821 
  First Commonwealth Financial Corp.  1,036,600  4,820 
*  FBR Capital Markets Corp.  775,935  4,795 
  SCBT Financial Corp.  171,983  4,762 
  Sun Communities Inc.  239,314  4,727 
*  eHealth Inc.  285,105  4,684 
  SWS Group Inc.  384,830  4,656 
^  Pennsylvania Real Estate Investment Trust  548,132  4,637 
*  National Financial Partners Corp.  569,127  4,604 
*  AMERISAFE Inc.  255,395  4,589 
  GFI Group Inc.  958,038  4,378 
*  Beneficial Mutual Bancorp Inc.  443,612  4,365 
  Oppenheimer Holdings Inc. Class A  131,376  4,364 
  OneBeacon Insurance Group Ltd. Class A  316,334  4,359 
  Phoenix Cos. Inc.  1,565,280  4,352 
  Amtrust Financial Services Inc.  361,567  4,274 
  Community Trust Bancorp Inc.  174,263  4,261 
  American Physicians Capital Inc.  137,135  4,158 
  Cedar Shopping Centers Inc.  610,088  4,149 
  Bank Mutual Corp.  599,177  4,146 
  Flushing Financial Corp.  366,920  4,132 
*  Altisource Portfolio Solutions SA  194,402  4,081 
  Provident New York Bancorp  482,836  4,075 
  First Financial Corp.  133,145  4,064 
  State Auto Financial Corp.  215,358  3,984 
  First Industrial Realty Trust Inc.  753,069  3,939 
  Berkshire Hills Bancorp Inc.  188,642  3,901 
  Suffolk Bancorp  130,008  3,861 
*  United Community Banks Inc.  1,133,217  3,842 
  Dime Community Bancshares  325,892  3,820 
  Ramco-Gershenson Properties Trust  395,484  3,773 
  WesBanco Inc.  305,718  3,773 
*,^  Citizens Inc.  572,487  3,738 
  Tompkins Financial Corp.  92,180  3,733 
*  FPIC Insurance Group Inc.  95,648  3,694 
  Renasant Corp.  271,073  3,687 
  Northfield Bancorp Inc.  272,614  3,686 
  FBL Financial Group Inc. Class A  198,179  3,670 
  Danvers Bancorp Inc.  282,271  3,667 
  Government Properties Income Trust  159,314  3,661 
*  Ashford Hospitality Trust Inc.  778,303  3,611 
*  TradeStation Group Inc.  453,057  3,575 
  Harleysville National Corp.  554,244  3,569 
*  CNA Surety Corp.  239,636  3,568 
*  Broadpoint Gleacher Securities Inc.  797,947  3,559 
  Lakeland Financial Corp.  203,769  3,515 
*  United America Indemnity Ltd. Class A  443,754  3,515 
  Arrow Financial Corp.  140,350  3,509 
  MVC Capital Inc.  296,050  3,493 
  Education Realty Trust Inc.  718,005  3,475 
*,^  iStar Financial Inc.  1,349,366  3,454 
  Kite Realty Group Trust  844,865  3,439 
  Univest Corp. of Pennsylvania  194,987  3,418 
  GAMCO Investors Inc.  70,530  3,406 
*  SeaBright Insurance Holdings Inc.  293,388  3,371 
  Oriental Financial Group Inc.  311,586  3,365 

11


Vanguard® Small-Cap Index Fund
Schedule of Investments
December 31, 2009

      Market 
      Value 
    Shares  ($000) 
  Southside Bancshares Inc.  171,325  3,361 
  SY Bancorp Inc.  156,301  3,337 
^  TowneBank  276,722  3,232 
*,^  Ambac Financial Group Inc.  3,893,884  3,232 
  Cardinal Financial Corp.  369,510  3,230 
  Camden National Corp.  98,297  3,214 
  1st Source Corp.  196,408  3,160 
*  FelCor Lodging Trust Inc.  875,834  3,153 
  Cypress Sharpridge Investments Inc.  232,686  3,144 
  Westfield Financial Inc.  376,690  3,108 
  Bancfirst Corp.  82,841  3,068 
  Calamos Asset Management Inc. Class A  265,670  3,063 
  StellarOne Corp.  307,426  3,062 
  Washington Trust Bancorp Inc.  195,194  3,041 
  Trico Bancshares  181,681  3,025 
  NorthStar Realty Finance Corp.  877,156  3,009 
*  Western Alliance Bancorp  784,921  2,967 
  CapLease Inc.  669,355  2,932 
  Union Bankshares Corp.  235,687  2,920 
  Kearny Financial Corp.  282,439  2,847 
  First Bancorp  203,084  2,837 
  Republic Bancorp Inc. Class A  136,505  2,812 
  Westwood Holdings Group Inc.  77,161  2,804 
  Capital Southwest Corp.  35,348  2,785 
  Advance America Cash Advance Centers Inc.  500,780  2,784 
  First Financial Holdings Inc.  213,782  2,777 
  Presidential Life Corp.  300,348  2,748 
*  International Assets Holding Corp.  187,909  2,732 
  First Mercury Financial Corp.  197,324  2,705 
  Urstadt Biddle Properties Inc. Class A  176,900  2,701 
  BGC Partners Inc. Class A  582,000  2,689 
  Stewart Information Services Corp.  232,671  2,625 
  Baldwin & Lyons Inc.  106,466  2,620 
  BankFinancial Corp.  261,001  2,584 
  United Financial Bancorp Inc.  197,093  2,584 
  First Community Bancshares Inc.  212,421  2,560 
  Consolidated-Tomoka Land Co.  73,010  2,551 
  PMI Group Inc.  1,006,054  2,535 
  Student Loan Corp.  54,087  2,519 
  Great Southern Bancorp Inc.  117,716  2,514 
  Donegal Group Inc. Class A  161,664  2,512 
  First BanCorp  1,059,968  2,438 
*,^  Cardtronics Inc.  218,477  2,419 
  First Busey Corp.  619,353  2,409 
  NGP Capital Resources Co.  292,750  2,380 
  Glimcher Realty Trust  876,067  2,365 
  Heartland Financial USA Inc.  154,609  2,219 
  ViewPoint Financial Group  151,904  2,189 
  WSFS Financial Corp.  83,894  2,150 
  ESSA Bancorp Inc.  182,695  2,138 
^  Life Partners Holdings Inc.  100,480  2,129 
  Wilshire Bancorp Inc.  258,892  2,120 
  Hersha Hospitality Trust  664,676  2,087 
  Oritani Financial Corp.  149,411  2,051 
  Winthrop Realty Trust  183,018  1,988 
  Sandy Spring Bancorp Inc.  222,995  1,982 
  CoBiz Financial Inc.  415,739  1,975 
^  Capital City Bank Group Inc.  138,966  1,923 
*  Strategic Hotels & Resorts Inc.  1,010,113  1,879 
  Kansas City Life Insurance Co.  62,711  1,866 
*  First Marblehead Corp.  872,428  1,858 
*  LaBranche & Co. Inc.  653,549  1,856 
  Lakeland Bancorp Inc.  287,436  1,837 
  Abington Bancorp Inc.  264,558  1,823 

12


Vanguard® Small-Cap Index Fund
Schedule of Investments
December 31, 2009

      Market 
      Value 
    Shares  ($000) 
*  Avatar Holdings Inc.  106,007  1,803 
  EMC Insurance Group Inc.  80,551  1,733 
*  Penson Worldwide Inc.  190,426  1,725 
  Sterling Bancorp  233,172  1,665 
  First Merchants Corp.  272,608  1,619 
^  Ames National Corp.  76,675  1,619 
  National Interstate Corp.  92,579  1,570 
*  NewStar Financial Inc.  400,273  1,569 
  First Financial Northwest Inc.  234,717  1,537 
  Citizens & Northern Corp.  158,540  1,513 
*  Gramercy Capital Corp.  576,217  1,492 
  South Financial Group Inc.  2,307,939  1,488 
*  Asset Acceptance Capital Corp.  205,999  1,397 
  Universal Insurance Holdings Inc.  234,630  1,377 
  Southwest Bancorp Inc.  188,907  1,311 
  Roma Financial Corp.  104,402  1,290 
  MainSource Financial Group Inc.  261,310  1,249 
  Rockville Financial Inc.  118,636  1,246 
  Clifton Savings Bancorp Inc.  127,200  1,192 
*  Meridian Interstate Bancorp Inc.  136,091  1,183 
*,^  RAIT Financial Trust  838,971  1,099 
^  NASB Financial Inc.  42,555  991 
  Urstadt Biddle Properties Inc.  57,942  869 
*  Sun Bancorp Inc.  211,777  794 
  CompuCredit Holdings Corp.  222,238  740 
*  Crawford & Co. Class B  184,574  727 
*  Grubb & Ellis Co.  527,468  675 
*  Crawford & Co. Class A  197,221  659 
  Teton Advisors Inc. Class B  910  2 
*  CSF Holdings Inc. Contingent Litigation Rights  29,125  — 
      3,445,051 
Health Care (11.9%)     
*  Human Genome Sciences Inc.  2,435,566  74,528 
*  Mednax Inc.  625,639  37,607 
*  Tenet Healthcare Corp.  6,490,986  34,986 
*  United Therapeutics Corp.  645,536  33,987 
*  Valeant Pharmaceuticals International  1,041,170  33,099 
  PerkinElmer Inc.  1,574,534  32,420 
  Teleflex Inc.  535,878  28,878 
*  VCA Antech Inc.  1,145,725  28,551 
*  BioMarin Pharmaceutical Inc.  1,353,019  25,450 
*  Bio-Rad Laboratories Inc. Class A  255,521  24,648 
*  OSI Pharmaceuticals Inc.  782,795  24,290 
  Owens & Minor Inc.  563,621  24,196 
*  Onyx Pharmaceuticals Inc.  824,545  24,192 
*  Health Management Associates Inc. Class A  3,327,598  24,192 
  Cooper Cos. Inc.  609,563  23,237 
*  LifePoint Hospitals Inc.  702,211  22,829 
*  Healthsouth Corp.  1,191,302  22,361 
  STERIS Corp.  790,576  22,112 
  Medicis Pharmaceutical Corp. Class A  801,502  21,681 
*  WellCare Health Plans Inc.  571,220  20,998 
*  Thoratec Corp.  763,331  20,549 
*  Emergency Medical Services Corp. Class A  376,706  20,399 
*  Regeneron Pharmaceuticals Inc.  841,174  20,340 
*  Varian Inc.  389,959  20,098 
*  Masimo Corp.  660,691  20,098 
*  Magellan Health Services Inc.  475,765  19,378 
*  American Medical Systems Holdings Inc.  1,002,177  19,332 
  Hill-Rom Holdings Inc.  802,684  19,256 
*  Immucor Inc.  950,951  19,247 
*  Haemonetics Corp.  346,545  19,112 
*  AMERIGROUP Corp.  708,208  19,093 
*  Salix Pharmaceuticals Ltd.  740,582  18,811 

13


Vanguard® Small-Cap Index Fund
Schedule of Investments
December 31, 2009

      Market 
      Value 
    Shares  ($000) 
*  Auxilium Pharmaceuticals Inc.  617,802  18,522 
*  Catalyst Health Solutions Inc.  504,172  18,387 
*,^  Amedisys Inc.  374,759  18,198 
*  PSS World Medical Inc.  802,728  18,118 
*  Allscripts-Misys Healthcare Solutions Inc.  879,648  17,795 
*  Dionex Corp.  238,797  17,640 
*  Brookdale Senior Living Inc.  960,179  17,466 
  West Pharmaceutical Services Inc.  443,689  17,393 
*  HMS Holdings Corp.  353,303  17,202 
*  NuVasive Inc.  508,473  16,261 
  Quality Systems Inc.  250,403  15,723 
*  Sirona Dental Systems Inc.  481,980  15,298 
*  Psychiatric Solutions Inc.  720,917  15,240 
*  Cubist Pharmaceuticals Inc.  779,349  14,784 
  Chemed Corp.  303,475  14,558 
*  Medivation Inc.  383,756  14,448 
*  Eclipsys Corp.  762,222  14,116 
*  Isis Pharmaceuticals Inc.  1,260,245  13,989 
*  Align Technology Inc.  764,421  13,622 
*  athenahealth Inc.  294,477  13,322 
*  Centene Corp.  611,865  12,953 
*  Acorda Therapeutics Inc.  513,441  12,949 
*  Incyte Corp. Ltd.  1,405,870  12,807 
*  Par Pharmaceutical Cos. Inc.  469,036  12,692 
*  Savient Pharmaceuticals Inc.  889,846  12,111 
*  ev3 Inc.  907,394  12,105 
*  Alkermes Inc.  1,273,396  11,983 
  Meridian Bioscience Inc.  546,671  11,781 
*  Nektar Therapeutics  1,250,010  11,650 
*  Healthspring Inc.  660,226  11,627 
*  Seattle Genetics Inc.  1,122,434  11,404 
  PDL BioPharma Inc.  1,612,190  11,060 
*  Parexel International Corp.  779,452  10,990 
*  Bruker Corp.  885,724  10,682 
*  Exelixis Inc.  1,448,011  10,672 
*  Integra LifeSciences Holdings Corp.  287,664  10,580 
*  Volcano Corp.  587,919  10,218 
*  Gentiva Health Services Inc.  373,041  10,076 
*  Wright Medical Group Inc.  520,805  9,869 
  Invacare Corp.  393,329  9,810 
*  RehabCare Group Inc.  321,670  9,788 
*  Cepheid Inc.  784,189  9,787 
*  Impax Laboratories Inc.  706,059  9,602 
*,^  Vivus Inc.  1,011,880  9,299 
*  Amsurg Corp. Class A  413,649  9,109 
*  Phase Forward Inc.  583,001  8,949 
*  Conmed Corp.  392,334  8,945 
*  AMAG Pharmaceuticals Inc.  230,884  8,781 
*  Viropharma Inc.  1,044,619  8,764 
*,^  Cell Therapeutics Inc.  7,560,185  8,619 
*  Theravance Inc.  653,065  8,536 
*  Martek Biosciences Corp.  448,287  8,491 
*  Alnylam Pharmaceuticals Inc.  478,406  8,430 
*  Healthways Inc.  454,780  8,341 
*  MedAssets Inc.  377,722  8,011 
*  Luminex Corp.  531,603  7,937 
*,^  MannKind Corp.  898,690  7,873 
*  Kindred Healthcare Inc.  421,111  7,774 
  Landauer Inc.  126,135  7,745 
*  Conceptus Inc.  412,336  7,735 
*  Cyberonics Inc.  374,204  7,649 
*  Celera Corp.  1,103,481  7,625 
*  Zoll Medical Corp.  284,468  7,601 
*  Abaxis Inc.  296,616  7,579 

14


Vanguard® Small-Cap Index Fund
Schedule of Investments
December 31, 2009

      Market 
      Value 
    Shares  ($000) 
*  LHC Group Inc.  223,841  7,523 
*  inVentiv Health Inc.  452,816  7,322 
*  Universal American Corp.  624,313  7,304 
*  Odyssey HealthCare Inc.  444,025  6,918 
*  Merit Medical Systems Inc.  358,033  6,906 
*  InterMune Inc.  528,382  6,890 
*,^  Geron Corp.  1,230,806  6,831 
*  XenoPort Inc.  367,431  6,820 
*  Halozyme Therapeutics Inc.  1,149,261  6,746 
*  Neogen Corp.  284,221  6,710 
*  Allos Therapeutics Inc.  1,014,913  6,668 
  Analogic Corp.  172,449  6,641 
*  PharMerica Corp.  411,645  6,537 
*  ICU Medical Inc.  179,218  6,531 
*  Orthofix International NV  208,146  6,446 
*,^  Enzon Pharmaceuticals Inc.  611,810  6,442 
*  Rigel Pharmaceuticals Inc.  671,156  6,383 
*  Bio-Reference Labs Inc.  158,082  6,195 
*  Affymax Inc.  250,014  6,185 
*  IPC The Hospitalist Co. Inc.  184,401  6,131 
  Computer Programs & Systems Inc.  132,972  6,123 
*  Insulet Corp.  421,174  6,014 
*  Greatbatch Inc.  312,280  6,005 
*  Momenta Pharmaceuticals Inc.  473,089  5,966 
*  Medicines Co.  710,639  5,927 
*  Pharmasset Inc.  284,591  5,891 
*  Hanger Orthopedic Group Inc.  424,062  5,865 
*  MWI Veterinary Supply Inc.  155,123  5,848 
*  Facet Biotech Corp.  330,801  5,815 
*  Immunogen Inc.  731,032  5,746 
*  Natus Medical Inc.  381,733  5,646 
*  Affymetrix Inc.  951,024  5,554 
*  SonoSite Inc.  233,968  5,529 
*,^  Emeritus Corp.  292,043  5,476 
*  Sun Healthcare Group Inc.  588,776  5,399 
*  Targacept Inc.  256,306  5,362 
*  Inspire Pharmaceuticals Inc.  941,586  5,198 
*  Quidel Corp.  366,057  5,044 
*  Angiodynamics Inc.  313,479  5,041 
*  Air Methods Corp.  149,158  5,015 
*  Genoptix Inc.  138,384  4,917 
*  Triple-S Management Corp. Class B  275,638  4,851 
*  Omnicell Inc.  407,263  4,761 
*  SurModics Inc.  201,142  4,558 
*,^  Arena Pharmaceuticals Inc.  1,254,227  4,453 
*  DexCom Inc.  528,356  4,269 
*  Micromet Inc.  604,614  4,027 
*  AMN Healthcare Services Inc.  441,770  4,002 
*  Molina Healthcare Inc.  172,788  3,952 
*  Almost Family Inc.  99,579  3,936 
*  Clinical Data Inc.  214,529  3,917 
*  Symmetry Medical Inc.  484,854  3,908 
*  Cantel Medical Corp.  191,005  3,854 
*  Corvel Corp.  113,433  3,805 
*  Res-Care Inc.  339,312  3,800 
*  Genomic Health Inc.  193,334  3,782 
*,^  Protalix BioTherapeutics Inc.  569,031  3,767 
*  ABIOMED Inc.  427,126  3,733 
*  Cross Country Healthcare Inc.  375,421  3,720 
*  Questcor Pharmaceuticals Inc.  781,167  3,711 
*  Kendle International Inc.  191,234  3,501 
*  Kensey Nash Corp.  135,778  3,462 
*  Assisted Living Concepts Inc. Class A  130,217  3,434 
*  Accuray Inc.  610,693  3,426 

15


Vanguard® Small-Cap Index Fund
Schedule of Investments
December 31, 2009

      Market 
      Value 
    Shares  ($000) 
*  Nabi Biopharmaceuticals  687,297  3,368 
*  Medidata Solutions Inc.  215,668  3,364 
*  eResearchTechnology Inc.  557,909  3,353 
  National Healthcare Corp.  92,498  3,340 
  Atrion Corp.  21,390  3,331 
*,^  Cadence Pharmaceuticals Inc.  341,438  3,302 
*  Zymogenetics Inc.  514,139  3,285 
*  Orthovita Inc.  930,078  3,265 
*,^  Sequenom Inc.  786,723  3,257 
*  Sangamo Biosciences Inc.  547,140  3,239 
*  Dyax Corp.  947,574  3,212 
*  OraSure Technologies Inc.  617,391  3,136 
*  Ligand Pharmaceuticals Inc. Class B  1,411,530  3,063 
*  IRIS International Inc.  243,252  3,007 
*  Cypress Bioscience Inc.  518,414  2,986 
*  Somanetics Corp.  162,891  2,859 
*  RTI Biologics Inc.  734,993  2,822 
*  Orexigen Therapeutics Inc.  377,275  2,807 
*  Lexicon Pharmaceuticals Inc.  1,618,013  2,751 
*  Albany Molecular Research Inc.  300,004  2,724 
*  Pain Therapeutics Inc.  485,519  2,602 
*,^  Electro-Optical Sciences Inc.  244,166  2,530 
*  Emergent Biosolutions Inc.  184,085  2,502 
*  Durect Corp.  1,001,709  2,474 
*  Enzo Biochem Inc.  456,724  2,457 
*  Chindex International Inc.  171,167  2,419 
*,^  MAKO Surgical Corp.  215,969  2,397 
*,^  SIGA Technologies Inc.  406,886  2,360 
  Ensign Group Inc.  153,412  2,358 
*  CryoLife Inc.  365,115  2,344 
*  Palomar Medical Technologies Inc.  232,328  2,342 
*  Vital Images Inc.  183,090  2,323 
*  NPS Pharmaceuticals Inc.  643,904  2,189 
*  Arqule Inc.  574,638  2,120 
*  Stereotaxis Inc.  532,607  2,093 
*  ATS Medical Inc.  636,147  2,055 
*  Skilled Healthcare Group Inc.  272,956  2,034 
*  Synovis Life Technologies Inc.  156,164  2,016 
*  Alliance HealthCare Services Inc.  349,738  1,997 
*  Sunrise Senior Living Inc.  616,928  1,987 
*  Exactech Inc.  112,971  1,956 
*  Pozen Inc.  323,034  1,935 
*  TomoTherapy Inc.  489,234  1,908 
*  Progenics Pharmaceuticals Inc.  427,451  1,898 
*  Opko Health Inc.  1,026,424  1,878 
*,^  Maxygen Inc.  306,786  1,868 
*,^  Cel-Sci Corp.  2,067,039  1,860 
*  Medcath Corp.  224,333  1,774 
*  MAP Pharmaceuticals Inc.  182,142  1,736 
*  Biospecifics Technologies Corp.  57,518  1,688 
*  Clarient Inc.  625,646  1,658 
*  Myriad Pharmaceuticals Inc.  322,984  1,625 
*,^  Osiris Therapeutics Inc.  222,322  1,587 
*  OncoGenex Pharmaceutical Inc.  69,639  1,552 
*  Cynosure Inc. Class A  132,739  1,525 
*  KV Pharmaceutical Co. Class A  402,495  1,477 
*,^  XOMA Ltd.  2,090,380  1,461 
*  Akorn Inc.  793,208  1,420 
*  Nighthawk Radiology Holdings Inc.  305,181  1,382 
*,^  Virtual Radiologic Corp.  96,077  1,226 
*  Hansen Medical Inc.  400,097  1,212 
*  CardioNet Inc.  195,232  1,160 
*  Idenix Pharmaceuticals Inc.  449,056  965 
*  Caraco Pharmaceutical Laboratories Ltd.  155,908  942 

16


Vanguard® Small-Cap Index Fund
Schedule of Investments
December 31, 2009

      Market 
      Value 
    Shares  ($000) 
*,^  GTx Inc.  221,176  929 
*  Sucampo Pharmaceuticals Inc. Class A  99,958  404 
*  KV Pharmaceutical Co. Class B  53,281  210 
      2,062,471 
Industrials (16.0%)     
  Oshkosh Corp.  1,179,764  43,687 
*  Corrections Corp. of America  1,553,982  38,150 
*  Waste Connections Inc.  1,080,622  36,028 
  IDEX Corp.  1,089,012  33,923 
*  Continental Airlines Inc. Class B  1,862,731  33,380 
  Hubbell Inc. Class B  700,329  33,126 
  Snap-On Inc.  778,612  32,904 
  Lincoln Electric Holdings Inc.  573,753  30,673 
*  BE Aerospace Inc.  1,296,458  30,467 
  Gardner Denver Inc.  701,530  29,850 
*  UAL Corp.  2,253,669  29,095 
  Kennametal Inc.  1,096,795  28,429 
  Carlisle Cos. Inc.  826,351  28,311 
*  Monster Worldwide Inc.  1,614,847  28,098 
  Towers Watson & Co. Class A  575,779  27,361 
  Landstar System Inc.  692,253  26,839 
  Timken Co.  1,110,305  26,325 
*  Thomas & Betts Corp.  713,025  25,519 
*  GrafTech International Ltd.  1,623,699  25,249 
  Regal-Beloit Corp.  483,283  25,102 
  Lennox International Inc.  640,000  24,986 
  Nordson Corp.  407,920  24,957 
  Wabtec Corp.  609,543  24,894 
  TransDigm Group Inc.  523,167  24,845 
*  Kirby Corp.  689,743  24,024 
*  EMCOR Group Inc.  888,862  23,910 
*,^  American Superconductor Corp.  565,264  23,119 
  Graco Inc.  808,428  23,097 
  Con-way Inc.  661,375  23,089 
  CLARCOR Inc.  687,198  22,293 
*  Tetra Tech Inc.  817,090  22,200 
  Woodward Governor Co.  824,732  21,253 
  Acuity Brands Inc.  581,224  20,715 
*  General Cable Corp.  701,190  20,629 
  Toro Co.  484,211  20,245 
  Brady Corp. Class A  657,905  19,744 
  Valmont Industries Inc.  248,005  19,456 
  Crane Co.  631,141  19,326 
  Curtiss-Wright Corp.  614,660  19,251 
*  Clean Harbors Inc.  318,152  18,965 
  Alexander & Baldwin Inc.  553,696  18,953 
  Trinity Industries Inc.  1,069,567  18,653 
  UTi Worldwide Inc.  1,283,434  18,379 
  Watsco Inc.  375,101  18,372 
*  United Stationers Inc.  320,117  18,199 
*  Avis Budget Group Inc.  1,375,865  18,051 
  GATX Corp.  620,926  17,852 
*  Teledyne Technologies Inc.  461,564  17,706 
*  JetBlue Airways Corp.  3,239,269  17,654 
  Manitowoc Co. Inc.  1,761,303  17,560 
*  MPS Group Inc.  1,256,645  17,266 
*  Hexcel Corp.  1,303,897  16,925 
*  Genesee & Wyoming Inc. Class A  517,670  16,897 
  Baldor Electric Co.  596,884  16,766 
  Actuant Corp. Class A  894,227  16,570 
*  Alaska Air Group Inc.  473,760  16,373 
*  Esterline Technologies Corp.  400,820  16,341 
  Knight Transportation Inc.  841,253  16,228 
*  Moog Inc. Class A  552,968  16,163 

17


Vanguard® Small-Cap Index Fund
Schedule of Investments
December 31, 2009

      Market 
      Value 
    Shares  ($000) 
  Kaydon Corp.  448,180  16,027 
  Granite Construction Inc.  469,493  15,803 
*  Geo Group Inc.  692,012  15,141 
*  WESCO International Inc.  541,367  14,622 
  HNI Corp.  515,846  14,253 
  Simpson Manufacturing Co. Inc.  529,324  14,234 
  Brink's Co.  584,070  14,216 
  Belden Inc.  628,747  13,782 
  AO Smith Corp.  315,386  13,685 
*  EnerSys  616,075  13,474 
*  HUB Group Inc. Class A  501,251  13,449 
*,^  USG Corp.  936,952  13,164 
  ESCO Technologies Inc.  354,771  12,719 
  Skywest Inc.  750,126  12,692 
  Briggs & Stratton Corp.  674,517  12,620 
  Mueller Industries Inc.  503,136  12,498 
  Werner Enterprises Inc.  629,028  12,448 
*  Resources Connection Inc.  581,532  12,340 
  Watts Water Technologies Inc. Class A  396,902  12,272 
  Mine Safety Appliances Co.  460,832  12,226 
  ABM Industries Inc.  588,718  12,163 
  Heartland Express Inc.  795,237  12,143 
*  SYKES Enterprises Inc.  473,856  12,069 
  Herman Miller Inc.  753,924  12,048 
*  AAR Corp.  524,080  12,043 
  Healthcare Services Group Inc.  557,010  11,953 
*  Insituform Technologies Inc. Class A  523,761  11,900 
*  Orbital Sciences Corp.  761,921  11,627 
  Rollins Inc.  601,959  11,606 
*  Old Dominion Freight Line Inc.  377,267  11,582 
  Applied Industrial Technologies Inc.  513,812  11,340 
  Otter Tail Corp.  456,348  11,317 
*  Middleby Corp.  225,003  11,030 
*  CoStar Group Inc.  260,644  10,887 
  Triumph Group Inc.  224,768  10,845 
*  II-VI Inc.  338,751  10,772 
  Mueller Water Products Inc. Class A  2,063,375  10,730 
*  Atlas Air Worldwide Holdings Inc.  287,710  10,717 
*  Armstrong World Industries Inc.  270,917  10,547 
  Corporate Executive Board Co.  460,354  10,505 
*  US Airways Group Inc.  2,136,168  10,339 
  Barnes Group Inc.  609,160  10,295 
  Deluxe Corp.  689,818  10,202 
*  MasTec Inc.  812,962  10,162 
*  Korn/Ferry International  615,804  10,161 
*  Navigant Consulting Inc.  674,487  10,023 
  Forward Air Corp.  390,759  9,789 
*  Beacon Roofing Supply Inc.  608,785  9,741 
  Arkansas Best Corp.  324,077  9,538 
  American Science & Engineering Inc.  119,449  9,059 
*  AirTran Holdings Inc.  1,705,398  8,902 
  Robbins & Myers Inc.  376,504  8,855 
*  Griffon Corp.  722,593  8,830 
*  TrueBlue Inc.  590,375  8,743 
  Universal Forest Products Inc.  234,427  8,629 
  Quanex Building Products Corp.  507,885  8,619 
*,^  Genco Shipping & Trading Ltd.  384,952  8,615 
  EnergySolutions Inc.  1,012,737  8,598 
*  Dollar Thrifty Automotive Group Inc.  335,675  8,597 
  Albany International Corp.  371,659  8,347 
  Cubic Corp.  216,366  8,070 
  Kaman Corp.  346,235  7,995 
*,^  Allegiant Travel Co. Class A  161,550  7,620 
  Badger Meter Inc.  190,675  7,593 

18


Vanguard® Small-Cap Index Fund
Schedule of Investments
December 31, 2009

      Market 
      Value 
    Shares  ($000) 
*  Interline Brands Inc.  437,744  7,560 
*  Layne Christensen Co.  262,228  7,529 
  Ameron International Corp.  118,001  7,488 
*  Orion Marine Group Inc.  352,208  7,418 
  Administaff Inc.  309,799  7,308 
*  EnerNOC Inc.  238,409  7,245 
  Franklin Electric Co. Inc.  249,006  7,241 
*  EnPro Industries Inc.  272,087  7,186 
  Heidrick & Struggles International Inc.  229,372  7,166 
*  United Rentals Inc.  729,644  7,158 
*  RBC Bearings Inc.  293,149  7,132 
  HEICO Corp.  159,846  7,086 
*  Macquarie Infrastructure Co. LLC  575,891  7,072 
*  DynCorp International Inc. Class A  492,808  7,072 
*  GeoEye Inc.  250,754  6,991 
*  Astec Industries Inc.  258,055  6,952 
  Raven Industries Inc.  218,582  6,944 
  Aircastle Ltd.  694,326  6,839 
  McGrath Rentcorp  304,020  6,798 
  Seaboard Corp.  5,006  6,753 
*  Mobile Mini Inc.  478,124  6,737 
  Knoll Inc.  633,665  6,546 
*  Cenveo Inc.  747,886  6,544 
*  DigitalGlobe Inc.  269,681  6,526 
*,^  Energy Conversion Devices Inc.  616,417  6,516 
*  Tutor Perini Corp.  359,684  6,503 
*  Advisory Board Co.  209,195  6,414 
*  ATC Technology Corp.  267,491  6,380 
  Comfort Systems USA Inc.  516,770  6,377 
*  Chart Industries Inc.  383,499  6,347 
  John Bean Technologies Corp.  371,655  6,322 
*  Ceradyne Inc.  328,926  6,319 
  Lindsay Corp.  157,501  6,276 
  G&K Services Inc. Class A  249,320  6,265 
*  M&F Worldwide Corp.  156,278  6,173 
*  ICF International Inc.  227,731  6,103 
*  Huron Consulting Group Inc.  260,934  6,012 
*  School Specialty Inc.  253,739  5,935 
  Tennant Co.  226,429  5,930 
*  Aerovironment Inc.  202,770  5,897 
  Ennis Inc.  348,633  5,854 
  CIRCOR International Inc.  228,528  5,754 
  Viad Corp.  277,269  5,720 
  Steelcase Inc. Class A  887,390  5,644 
  Gorman-Rupp Co.  202,509  5,597 
*  Blount International Inc.  545,955  5,514 
*  Kforce Inc.  438,953  5,487 
  Tredegar Corp.  343,217  5,430 
*  AZZ Inc.  164,773  5,388 
  Interface Inc. Class A  645,870  5,367 
*  ACCO Brands Corp.  734,697  5,349 
*  Stanley Inc.  193,871  5,314 
  Apogee Enterprises Inc.  377,832  5,290 
  Encore Wire Corp.  247,713  5,219 
*  Exponent Inc.  186,438  5,190 
*,^  Harbin Electric Inc.  250,201  5,139 
  Gibraltar Industries Inc.  324,557  5,105 
*  Force Protection Inc.  946,558  4,932 
*  Hawaiian Holdings Inc.  698,947  4,893 
*  CBIZ Inc.  632,405  4,870 
*  Consolidated Graphics Inc.  135,975  4,762 
*  Cornell Cos. Inc.  207,974  4,721 
  Great Lakes Dredge & Dock Corp.  712,973  4,620 
*  Amerco Inc.  92,381  4,593 

19


Vanguard® Small-Cap Index Fund
Schedule of Investments
December 31, 2009

      Market 
      Value 
    Shares  ($000) 
*  MYR Group Inc.  253,955  4,592 
*  Kelly Services Inc. Class A  383,596  4,576 
*  Team Inc.  242,443  4,560 
  Sun Hydraulics Corp.  171,375  4,499 
*  Michael Baker Corp.  108,138  4,477 
*  GenCorp Inc.  633,628  4,435 
*  Dycom Industries Inc.  528,058  4,240 
*  Colfax Corp.  351,706  4,235 
*,^  Broadwind Energy Inc.  521,755  4,221 
*,^  Eagle Bulk Shipping Inc.  839,134  4,154 
*  Argon ST Inc.  190,981  4,148 
*  LB Foster Co. Class A  137,487  4,098 
*  Rush Enterprises Inc. Class A  343,824  4,088 
*,^  Evergreen Solar Inc.  2,679,577  4,046 
  American Ecology Corp.  235,376  4,011 
*  Marten Transport Ltd.  222,304  3,990 
*,^  Ener1 Inc.  626,722  3,973 
*  CRA International Inc.  147,617  3,934 
*  Polypore International Inc.  330,560  3,934 
*  Spherion Corp.  696,677  3,915 
*,^  Power-One Inc.  894,797  3,892 
  HEICO Corp. Class A  107,934  3,881 
*  Sterling Construction Co. Inc.  201,728  3,869 
*  SmartHeat Inc.  264,855  3,846 
  Federal Signal Corp.  627,095  3,775 
*  K-Tron International Inc.  34,251  3,724 
*  Waste Services Inc.  407,114  3,709 
  Ampco-Pittsburgh Corp.  117,315  3,699 
  Titan International Inc.  453,496  3,678 
*  Powell Industries Inc.  116,357  3,669 
  NACCO Industries Inc. Class A  72,418  3,606 
  Dynamic Materials Corp.  174,315  3,495 
*  Taser International Inc.  796,570  3,489 
*  FuelCell Energy Inc.  926,204  3,483 
  Bowne & Co. Inc.  518,328  3,462 
*  Republic Airways Holdings Inc.  466,466  3,447 
*  American Reprographics Co.  488,059  3,421 
  AAON Inc.  174,274  3,397 
*  Northwest Pipe Co.  124,969  3,357 
*  Columbus McKinnon Corp.  245,398  3,352 
*,^  Capstone Turbine Corp.  2,547,770  3,287 
*  Ladish Co. Inc.  215,323  3,247 
  Applied Signal Technology Inc.  168,153  3,244 
  Cascade Corp.  117,473  3,229 
  FreightCar America Inc.  161,391  3,200 
  Standex International Corp.  158,997  3,194 
*,^  Energy Recovery Inc.  441,350  3,036 
*  Standard Parking Corp.  187,192  2,973 
*  H&E Equipment Services Inc.  282,098  2,959 
*  3D Systems Corp.  259,095  2,928 
  Kimball International Inc. Class B  341,504  2,910 
  TAL International Group Inc.  209,496  2,772 
  Schawk Inc. Class A  202,726  2,757 
*  Saia Inc.  182,929  2,711 
  Houston Wire & Cable Co.  226,991  2,701 
*,^  GT Solar International Inc.  485,425  2,699 
*  Kadant Inc.  166,048  2,650 
  Ducommun Inc.  134,376  2,514 
*  RSC Holdings Inc.  350,035  2,464 
*  Vicor Corp.  263,093  2,447 
  American Woodmark Corp.  124,290  2,446 
*  American Commercial Lines Inc.  129,041  2,365 
  CDI Corp.  179,578  2,326 
*  Metalico Inc.  471,306  2,319 

20


Vanguard® Small-Cap Index Fund
Schedule of Investments
December 31, 2009

      Market 
      Value 
    Shares  ($000) 
*  Pike Electric Corp.  248,977  2,311 
*  Tecumseh Products Co. Class A  196,863  2,301 
*  APAC Customer Services Inc.  382,885  2,282 
  Greenbrier Cos. Inc.  218,809  2,271 
*  Innerworkings Inc.  367,221  2,167 
  Horizon Lines Inc. Class A  388,749  2,165 
*  Patriot Transportation Holding Inc.  22,721  2,146 
*,^  Titan Machinery Inc.  180,948  2,088 
*  Fushi Copperweld Inc.  206,168  2,086 
  Sauer-Danfoss Inc.  164,556  1,976 
*  Hill International Inc.  314,823  1,964 
  Courier Corp.  136,103  1,939 
*  Fuel Tech Inc.  228,640  1,868 
*  Volt Information Sciences Inc.  181,913  1,819 
*  Furmanite Corp.  467,021  1,779 
  Aceto Corp.  332,583  1,713 
  Universal Truckload Services Inc.  86,760  1,570 
  Preformed Line Products Co.  35,598  1,559 
*,^  China Fire & Security Group Inc.  111,796  1,513 
  Pacer International Inc.  473,982  1,498 
  American Railcar Industries Inc.  130,769  1,441 
*,^  TBS International Ltd. Class A  178,054  1,309 
*  Argan Inc.  83,071  1,195 
*  Rush Enterprises Inc. Class B  112,120  1,177 
*  Odyssey Marine Exploration Inc.  741,446  1,045 
  Lawson Products Inc.  58,227  1,028 
*  Plug Power Inc.  1,143,098  812 
*,^  Valence Technology Inc.  843,590  768 
*,^  YRC Worldwide Inc.  805,082  676 
  Standard Register Co.  130,664  666 
*  Tecumseh Products Co. Class B  32,795  364 
      2,769,296 
Information Technology (17.5%)     
*  Rovi Corp.  1,371,918  43,723 
*  3Com Corp.  5,276,175  39,571 
*  Itron Inc.  539,624  36,462 
*  Varian Semiconductor Equipment Associates Inc.  989,231  35,494 
*  MICROS Systems Inc.  1,084,720  33,659 
*  CommScope Inc.  1,262,879  33,504 
*,^  Rambus Inc.  1,344,565  32,807 
*  Skyworks Solutions Inc.  2,309,352  32,770 
  Solera Holdings Inc.  891,184  32,092 
*  Tech Data Corp.  677,653  31,619 
*  VistaPrint NV  548,629  31,085 
*  Informatica Corp.  1,192,262  30,832 
*  Atheros Communications Inc.  898,527  30,766 
*  QLogic Corp.  1,593,431  30,068 
*  Polycom Inc.  1,134,173  28,320 
*  Silicon Laboratories Inc.  574,925  27,792 
*  Atmel Corp.  5,782,345  26,657 
*  PMC - Sierra Inc.  3,033,858  26,273 
*  Parametric Technology Corp.  1,567,543  25,614 
  Diebold Inc.  893,901  25,431 
*,^  WebMD Health Corp.  659,192  25,372 
*  Teradyne Inc.  2,355,324  25,273 
  Jack Henry & Associates Inc.  1,079,139  24,950 
*  Concur Technologies Inc.  557,949  23,852 
*  Sohu.com Inc.  413,703  23,697 
*  JDS Uniphase Corp.  2,866,978  23,653 
*  Compuware Corp.  3,204,848  23,171 
  National Instruments Corp.  785,414  23,130 
*  NeuStar Inc. Class A  1,002,931  23,108 
*  TIBCO Software Inc.  2,356,120  22,689 
*  Zebra Technologies Corp.  797,224  22,609 

21


Vanguard® Small-Cap Index Fund
Schedule of Investments
December 31, 2009

      Market 
      Value 
    Shares  ($000) 
*  Cypress Semiconductor Corp.  2,089,936  22,070 
*  Unisys Corp.  570,387  21,994 
*  International Rectifier Corp.  960,829  21,254 
*,^  Palm Inc.  2,080,603  20,889 
*  CACI International Inc. Class A  404,969  19,783 
*  Microsemi Corp.  1,097,664  19,484 
*  Vishay Intertechnology Inc.  2,324,444  19,409 
*  Novell Inc.  4,657,269  19,328 
*  Arris Group Inc.  1,687,587  19,289 
*  Anixter International Inc.  404,853  19,069 
*  Gartner Inc.  1,034,100  18,655 
*  Blackboard Inc.  410,111  18,615 
*  MercadoLibre Inc.  357,192  18,528 
*  Cybersource Corp.  889,638  17,891 
*  Convergys Corp.  1,657,431  17,817 
*  Riverbed Technology Inc.  750,178  17,232 
  ADTRAN Inc.  762,329  17,191 
  Plantronics Inc.  659,547  17,135 
*  Veeco Instruments Inc.  509,661  16,839 
*  VeriFone Holdings Inc.  1,025,637  16,800 
*  Fairchild Semiconductor International Inc. Class A  1,671,685  16,700 
*  Benchmark Electronics Inc.  875,810  16,562 
*  RF Micro Devices Inc.  3,423,525  16,330 
*  Progress Software Corp.  540,844  15,798 
*  Wright Express Corp.  489,048  15,581 
*  Tessera Technologies Inc.  668,714  15,561 
*  InterDigital Inc.  581,767  15,440 
*  Quest Software Inc.  833,076  15,329 
*  Blue Coat Systems Inc.  536,079  15,300 
*  Plexus Corp.  532,552  15,178 
*  Genpact Ltd.  1,018,023  15,169 
*  Ariba Inc.  1,192,186  14,926 
*  TiVo Inc.  1,461,791  14,881 
*  Cymer Inc.  381,203  14,631 
*  FormFactor Inc.  667,351  14,522 
*  Integrated Device Technology Inc.  2,233,742  14,452 
*  Mantech International Corp. Class A  296,673  14,323 
*  Digital River Inc.  520,407  14,046 
  Fair Isaac Corp.  659,083  14,045 
*,^  Synaptics Inc.  457,842  14,033 
*  Semtech Corp.  823,970  14,016 
  Blackbaud Inc.  591,477  13,977 
*  Rackspace Hosting Inc.  653,418  13,624 
*  Acxiom Corp.  1,011,118  13,569 
*  GSI Commerce Inc.  533,819  13,554 
*  Euronet Worldwide Inc.  615,025  13,500 
*,^  Ciena Corp.  1,229,709  13,330 
*  Comtech Telecommunications Corp.  379,788  13,312 
  Power Integrations Inc.  356,480  12,962 
  Syntel Inc.  336,176  12,785 
*  CommVault Systems Inc.  535,395  12,683 
*  Tekelec  815,141  12,455 
*  j2 Global Communications Inc.  607,886  12,370 
*  AsiaInfo Holdings Inc.  400,556  12,205 
*  Viasat Inc.  383,806  12,197 
*  TriQuint Semiconductor Inc.  2,031,662  12,190 
*  Sanmina-SCI Corp.  1,098,174  12,113 
*  Cavium Networks Inc.  503,582  12,000 
  Earthlink Inc.  1,432,189  11,901 
*  Emulex Corp.  1,091,810  11,901 
*  ValueClick Inc.  1,175,753  11,899 
*  FEI Co.  506,822  11,839 
  MAXIMUS Inc.  236,295  11,815 
*  Sapient Corp.  1,425,869  11,792 

22


Vanguard® Small-Cap Index Fund
Schedule of Investments
December 31, 2009

      Market 
      Value 
    Shares  ($000) 
*  Netlogic Microsystems Inc.  254,258  11,762 
*  Lawson Software Inc.  1,743,963  11,597 
*  MicroStrategy Inc. Class A  123,138  11,577 
*  Amkor Technology Inc.  1,605,150  11,493 
*  Mentor Graphics Corp.  1,296,086  11,444 
*  SRA International Inc. Class A  586,136  11,195 
*  MKS Instruments Inc.  633,784  11,034 
*  Taleo Corp. Class A  466,210  10,965 
*,^  Take-Two Interactive Software Inc.  1,082,116  10,875 
*  Hittite Microwave Corp.  263,723  10,747 
*  JDA Software Group Inc.  409,409  10,428 
*  Cabot Microelectronics Corp.  316,003  10,415 
*  Websense Inc.  596,106  10,408 
*  Infinera Corp.  1,161,896  10,306 
*  Verigy Ltd.  792,230  10,196 
*  Netgear Inc.  464,793  10,081 
*  TeleTech Holdings Inc.  502,114  10,057 
*  SuccessFactors Inc.  605,692  10,042 
*  Net 1 UEPS Technologies Inc.  516,718  10,035 
*  Omnivision Technologies Inc.  683,736  9,935 
*  Coherent Inc.  329,851  9,806 
*  EchoStar Corp. Class A  486,083  9,790 
*  DealerTrack Holdings Inc.  516,463  9,704 
*  Scansource Inc.  358,400  9,569 
*  Monolithic Power Systems Inc.  394,073  9,446 
*  Littelfuse Inc.  293,196  9,426 
*  Diodes Inc.  458,485  9,376 
*  Ultimate Software Group Inc.  315,407  9,263 
*  Rofin-Sinar Technologies Inc.  389,967  9,207 
*  Entegris Inc.  1,726,325  9,115 
*,^  Advent Software Inc.  223,473  9,102 
*  SolarWinds Inc.  394,981  9,089 
*  CSG Systems International Inc.  473,721  9,043 
*  Tyler Technologies Inc.  453,131  9,022 
  Cognex Corp.  508,246  9,006 
*  TNS Inc.  340,684  8,752 
  AVX Corp.  689,284  8,733 
*  Aruba Networks Inc.  819,105  8,732 
*  L-1 Identity Solutions Inc.  1,159,231  8,683 
*  Intermec Inc.  670,224  8,619 
*  Quantum Corp.  2,858,546  8,376 
*  SYNNEX Corp.  268,335  8,227 
*  Harmonic Inc.  1,296,385  8,206 
*,^  STEC Inc.  500,882  8,184 
  United Online Inc.  1,131,006  8,132 
*  ADC Telecommunications Inc.  1,303,433  8,094 
*  DTS Inc.  235,688  8,063 
*  Checkpoint Systems Inc.  524,552  7,999 
*  ATMI Inc.  423,164  7,879 
*  ACI Worldwide Inc.  458,891  7,870 
*  Sonus Networks Inc.  3,692,022  7,790 
*  Art Technology Group Inc.  1,717,612  7,746 
*  Electronics for Imaging Inc.  594,606  7,736 
*  Zoran Corp.  696,960  7,701 
*  DG FastChannel Inc.  272,604  7,614 
  Pegasystems Inc.  220,594  7,500 
*  Brooks Automation Inc.  868,405  7,451 
*  Manhattan Associates Inc.  303,440  7,292 
  Park Electrochemical Corp.  263,110  7,272 
*  SAVVIS Inc.  512,518  7,201 
*  Insight Enterprises Inc.  618,357  7,062 
*  Advanced Energy Industries Inc.  452,981  6,831 
*  TTM Technologies Inc.  581,381  6,703 
  Black Box Corp.  236,466  6,701 

23


Vanguard® Small-Cap Index Fund
Schedule of Investments
December 31, 2009

      Market 
      Value 
    Shares  ($000) 
*  Applied Micro Circuits Corp.  892,953  6,670 
*  Compellent Technologies Inc.  292,907  6,643 
*  Brightpoint Inc.  884,261  6,499 
*  Avid Technology Inc.  503,874  6,429 
*  Rogers Corp.  211,321  6,405 
*  Cogent Inc.  603,798  6,273 
*  Finisar Corp.  694,494  6,195 
*  Standard Microsystems Corp.  296,689  6,165 
*  Switch & Data Facilities Co. Inc.  302,756  6,119 
*  Volterra Semiconductor Corp.  304,759  5,827 
  MTS Systems Corp.  202,197  5,811 
*  EPIQ Systems Inc.  413,999  5,792 
*  ModusLink Global Solutions Inc.  614,636  5,784 
*  OSI Systems Inc.  211,955  5,782 
*  Sourcefire Inc.  215,286  5,759 
*  ArcSight Inc.  223,223  5,710 
*  Cirrus Logic Inc.  835,067  5,695 
*  Bottomline Technologies Inc.  320,663  5,634 
*  Maxwell Technologies Inc.  314,884  5,618 
*  Sycamore Networks Inc.  267,672  5,597 
*  Netscout Systems Inc.  380,538  5,571 
*  Forrester Research Inc.  213,637  5,544 
*  SonicWALL Inc.  725,177  5,519 
*,^  Universal Display Corp.  441,738  5,460 
*  Harris Stratex Networks Inc.  787,721  5,443 
*  Adaptec Inc.  1,615,960  5,413 
*  TeleCommunication Systems Inc. Class A  555,428  5,377 
*  Epicor Software Corp.  699,717  5,332 
*,^  China Security & Surveillance Technology Inc.  687,244  5,251 
*  Loral Space & Communications Inc.  164,957  5,214 
*  RightNow Technologies Inc.  298,977  5,193 
*  IPG Photonics Corp.  308,171  5,159 
*  Netezza Corp.  527,611  5,118 
  NIC Inc.  554,927  5,072 
*  Kulicke & Soffa Industries Inc.  925,025  4,986 
  Micrel Inc.  590,728  4,844 
*  Echelon Corp.  413,365  4,778 
*,^  Ebix Inc.  97,474  4,760 
*  RealNetworks Inc.  1,277,582  4,740 
*  S1 Corp.  716,717  4,673 
*  comScore Inc.  265,241  4,655 
*  i2 Technologies Inc.  242,718  4,641 
*  THQ Inc.  913,499  4,604 
*  Constant Contact Inc.  287,313  4,597 
*  Oplink Communications Inc.  277,171  4,543 
*  Newport Corp.  490,321  4,506 
*  Stratasys Inc.  260,176  4,496 
  Methode Electronics Inc.  515,973  4,479 
*  Vocus Inc.  248,217  4,468 
*  FARO Technologies Inc.  206,920  4,436 
*  3PAR Inc.  373,649  4,428 
*  Supertex Inc.  148,440  4,423 
  CTS Corp.  458,691  4,413 
*  Acme Packet Inc.  393,311  4,326 
  Daktronics Inc.  469,318  4,322 
*  Synchronoss Technologies Inc.  272,863  4,314 
*  Lattice Semiconductor Corp.  1,561,388  4,216 
*  Actel Corp.  353,790  4,203 
  Cohu Inc.  301,185  4,202 
*  Terremark Worldwide Inc.  612,873  4,192 
*  Ultratech Inc.  280,647  4,170 
*  Infospace Inc.  477,974  4,096 
*  Global Cash Access Holdings Inc.  538,884  4,036 
*  Electro Scientific Industries Inc.  369,930  4,003 

24


Vanguard® Small-Cap Index Fund
Schedule of Investments
December 31, 2009

      Market 
      Value 
    Shares  ($000) 
  Heartland Payment Systems Inc.  304,261  3,995 
*  Pericom Semiconductor Corp.  344,359  3,970 
*  SMART Modular Technologies WWH Inc.  628,386  3,953 
*  Super Micro Computer Inc.  352,308  3,918 
*  Knot Inc.  388,305  3,910 
*  Sigma Designs Inc.  360,219  3,854 
*  Multi-Fineline Electronix Inc.  135,741  3,851 
*  Kopin Corp.  896,567  3,748 
*  infoGROUP Inc.  466,678  3,743 
*  LoopNet Inc.  373,336  3,711 
*  Radiant Systems Inc.  356,751  3,710 
*  Anadigics Inc.  856,195  3,613 
*  Smith Micro Software Inc.  394,885  3,609 
*  Kenexa Corp.  274,610  3,584 
*  Perficient Inc.  424,741  3,581 
*  Imation Corp.  410,307  3,578 
*  ExlService Holdings Inc.  195,881  3,557 
*  Exar Corp.  498,910  3,547 
*  Ixia  465,357  3,462 
*  ShoreTel Inc.  598,620  3,460 
*  Extreme Networks  1,204,533  3,457 
*  Hughes Communications Inc.  131,570  3,425 
*  Intevac Inc.  296,166  3,397 
*  NetSuite Inc.  209,886  3,354 
  iGate Corp.  331,633  3,316 
*  Internet Capital Group Inc.  497,257  3,307 
*,^  Rubicon Technology Inc.  162,778  3,306 
*  Move Inc.  1,987,001  3,298 
*  Novatel Wireless Inc.  412,063  3,284 
*  UTStarcom Inc.  1,478,511  3,238 
*  Comverge Inc.  284,517  3,198 
*  Interactive Intelligence Inc.  172,832  3,187 
*  Symmetricom Inc.  590,798  3,072 
*  Ciber Inc.  888,994  3,067 
*  Internap Network Services Corp.  652,462  3,067 
*  DemandTec Inc.  342,716  3,006 
*  EMS Technologies Inc.  204,975  2,972 
*  Digi International Inc.  317,197  2,893 
*  Silicon Graphics International Corp.  408,778  2,866 
*  Silicon Storage Technology Inc.  1,103,220  2,824 
  Agilysys Inc.  309,906  2,820 
*  Anaren Inc.  186,804  2,811 
  Electro Rent Corp.  243,295  2,808 
*  Monotype Imaging Holdings Inc.  304,380  2,749 
*,^  Rosetta Stone Inc.  151,962  2,728 
*  Rudolph Technologies Inc.  397,915  2,674 
  Cass Information Systems Inc.  87,416  2,657 
*  Silicon Image Inc.  1,013,864  2,616 
  Bel Fuse Inc. Class B  121,683  2,615 
*  Seachange International Inc.  396,104  2,602 
*  Airvana Inc.  337,617  2,566 
*  Symyx Technologies Inc.  464,368  2,554 
*  VASCO Data Security International Inc.  406,104  2,546 
*  Cogo Group Inc.  342,564  2,525 
*  PROS Holdings Inc.  241,923  2,504 
*  NCI Inc. Class A  89,957  2,487 
*  China Information Security Technology Inc.  396,528  2,443 
  Technitrol Inc.  557,016  2,440 
*  Internet Brands Inc. Class A  311,450  2,439 
*  Mattson Technology Inc.  670,871  2,402 
*  IXYS Corp.  313,786  2,328 
*,^  OpenTable Inc.  90,763  2,311 
*  Ness Technologies Inc.  468,619  2,296 
*  Powerwave Technologies Inc.  1,787,066  2,252 

25


Vanguard® Small-Cap Index Fund
Schedule of Investments
December 31, 2009

      Market 
      Value 
    Shares  ($000) 
*  Liquidity Services Inc.  223,539  2,251 
*  Double-Take Software Inc.  223,936  2,237 
  Opnet Technologies Inc.  181,321  2,210 
*  Advanced Analogic Technologies Inc.  552,397  2,176 
*  DivX Inc.  377,342  2,128 
*  Isilon Systems Inc.  305,944  2,099 
*  Limelight Networks Inc.  515,187  2,025 
*  Integral Systems Inc.  232,666  2,015 
*  FalconStor Software Inc.  480,060  1,949 
*  BigBand Networks Inc.  541,152  1,862 
*  Conexant Systems Inc.  770,720  1,788 
*  DSP Group Inc.  310,524  1,748 
*  Deltek Inc.  215,364  1,676 
*  Dice Holdings Inc.  254,110  1,664 
*  Trident Microsystems Inc.  856,793  1,594 
*  ICx Technologies Inc.  165,008  1,571 
  Marchex Inc. Class B  291,548  1,481 
*,^  Magma Design Automation Inc.  620,803  1,434 
  Renaissance Learning Inc.  118,851  1,350 
*  CPI International Inc.  99,872  1,322 
*  China TransInfo Technology Corp.  120,702  986 
*  TechTarget Inc.  169,724  956 
*  Opnext Inc.  305,779  581 
  Bel Fuse Inc. Class A  15,480  301 
      3,030,904 
Materials (5.4%)     
  Ashland Inc.  953,967  37,796 
  RPM International Inc.  1,741,799  35,411 
  Aptargroup Inc.  913,279  32,641 
  Packaging Corp. of America  1,388,806  31,956 
*  Domtar Corp.  566,077  31,366 
  Compass Minerals International Inc.  439,728  29,545 
  Temple-Inland Inc.  1,365,142  28,818 
  Huntsman Corp.  2,241,572  25,307 
  Rock-Tenn Co. Class A  494,592  24,932 
*  WR Grace & Co.  973,831  24,687 
  Royal Gold Inc.  522,431  24,607 
  Cytec Industries Inc.  654,027  23,820 
  Cabot Corp.  882,127  23,138 
  Silgan Holdings Inc.  360,687  20,877 
*  Solutia Inc.  1,605,866  20,395 
*  Hecla Mining Co.  3,191,863  19,726 
  NewMarket Corp.  164,106  18,834 
  Olin Corp.  1,055,436  18,491 
*  Coeur d'Alene Mines Corp.  1,017,238  18,371 
*  Intrepid Potash Inc.  607,319  17,715 
  Sensient Technologies Corp.  657,974  17,305 
  Schweitzer-Mauduit International Inc.  235,000  16,532 
  Carpenter Technology Corp.  594,014  16,009 
  HB Fuller Co.  655,666  14,916 
  Eagle Materials Inc.  558,769  14,556 
  Schnitzer Steel Industries Inc.  296,344  14,136 
*  Rockwood Holdings Inc.  599,808  14,131 
  Minerals Technologies Inc.  252,646  13,762 
*  OM Group Inc.  414,416  13,009 
*  Allied Nevada Gold Corp.  831,733  12,543 
*  Louisiana-Pacific Corp.  1,657,331  11,568 
  Worthington Industries Inc.  853,566  11,156 
  Texas Industries Inc.  317,792  11,120 
*  Century Aluminum Co.  650,224  10,527 
  Arch Chemicals Inc.  337,788  10,431 
*  RTI International Metals Inc.  392,771  9,886 
*  Calgon Carbon Corp.  701,609  9,752 
  Ferro Corp.  1,088,402  8,968 

26


Vanguard® Small-Cap Index Fund
Schedule of Investments
December 31, 2009

      Market 
      Value 
    Shares  ($000) 
*  PolyOne Corp.  1,184,848  8,851 
  AMCOL International Corp.  309,660  8,801 
  Kaiser Aluminum Corp.  205,145  8,538 
*  Clearwater Paper Corp.  153,236  8,423 
  Koppers Holdings Inc.  275,825  8,396 
  Balchem Corp.  250,330  8,389 
  Glatfelter  614,464  7,466 
  Wausau Paper Corp.  626,630  7,269 
*  Horsehead Holding Corp.  570,012  7,268 
  Stepan Co.  104,857  6,796 
  Westlake Chemical Corp.  266,597  6,646 
  Deltic Timber Corp.  142,415  6,577 
  A Schulman Inc.  316,146  6,380 
*  Stillwater Mining Co.  636,503  6,034 
  Innophos Holdings Inc.  243,597  5,600 
  Haynes International Inc.  163,691  5,397 
*  Buckeye Technologies Inc.  521,325  5,088 
  Zep Inc.  291,915  5,056 
*  Brush Engineered Materials Inc.  271,920  5,041 
*  Headwaters Inc.  681,976  4,446 
  Spartech Corp.  415,798  4,266 
*  Boise Inc.  798,041  4,238 
  Olympic Steel Inc.  125,201  4,079 
*  Graphic Packaging Holding Co.  1,161,939  4,032 
*  Zoltek Cos. Inc.  395,840  3,760 
  Myers Industries Inc.  406,018  3,695 
  Innospec Inc.  320,403  3,233 
  AM Castle & Co.  232,547  3,184 
*  LSB Industries Inc.  218,595  3,082 
*  Bway Holding Co.  148,753  2,859 
  Neenah Paper Inc.  198,390  2,768 
^  Hawkins Inc.  118,211  2,581 
*,^  China Green Agriculture Inc.  168,527  2,477 
*,^  ShengdaTech Inc.  402,609  2,468 
  American Vanguard Corp.  273,619  2,271 
*  Landec Corp.  336,230  2,098 
*  General Moly Inc.  838,165  1,743 
*  United States Lime & Minerals Inc.  39,163  1,352 
      929,388 
Telecommunication Services (1.0%)     
*  tw telecom inc Class A  2,013,452  34,511 
*  Syniverse Holdings Inc.  881,187  15,403 
*  Leap Wireless International Inc.  835,466  14,662 
*  AboveNet Inc.  171,138  11,131 
*  Cincinnati Bell Inc.  2,859,467  9,865 
  NTELOS Holdings Corp.  428,506  7,636 
  Iowa Telecommunications Services Inc.  441,085  7,393 
  Atlantic Tele-Network Inc.  133,446  7,341 
*  PAETEC Holding Corp.  1,759,572  7,302 
*  Neutral Tandem Inc.  315,963  7,188 
*  Premiere Global Services Inc.  777,692  6,416 
  Shenandoah Telecommunications Co.  302,503  6,156 
*  Global Crossing Ltd.  405,048  5,772 
*  Cogent Communications Group Inc.  569,467  5,615 
  Consolidated Communications Holdings Inc.  319,238  5,587 
*,^  Cbeyond Inc.  312,827  4,927 
  Alaska Communications Systems Group Inc.  600,025  4,788 
  USA Mobility Inc.  305,980  3,369 
*  General Communication Inc. Class A  437,027  2,788 
*  SureWest Communications  182,206  1,815 
*  ICO Global Communications Holdings Ltd.  1,659,764  1,793 
*,^  Vonage Holdings Corp.  957,467  1,340 
*,^  TerreStar Corp.  942,405  886 

27


Vanguard® Small-Cap Index Fund
Schedule of Investments
December 31, 2009

          Market 
          Value 
        Shares  ($000) 
*  FiberTower Corp.      143,427  599 
          174,283 
Utilities (3.7%)         
  AGL Resources Inc.      1,042,476  38,019 
  Atmos Energy Corp.      1,244,917  36,601 
  Great Plains Energy Inc.      1,823,993  35,367 
  ITC Holdings Corp.      673,895  35,103 
  Westar Energy Inc.      1,468,742  31,901 
  Piedmont Natural Gas Co. Inc.      984,376  26,332 
  Hawaiian Electric Industries Inc.      1,235,270  25,817 
  Nicor Inc.      610,102  25,685 
  Vectren Corp.      1,039,312  25,650 
  WGL Holdings Inc.      676,507  22,690 
  Cleco Corp.      815,892  22,298 
  New Jersey Resources Corp.      566,828  21,199 
  Portland General Electric Co.      1,014,366  20,703 
  IDACORP Inc.      637,409  20,365 
  Southwest Gas Corp.      604,643  17,250 
  Northwest Natural Gas Co.      357,699  16,111 
  Avista Corp.      737,805  15,929 
  Unisource Energy Corp.      482,446  15,530 
  South Jersey Industries Inc.      401,961  15,347 
  PNM Resources Inc.      1,169,337  14,792 
  Black Hills Corp.      523,999  13,954 
  Allete Inc.      390,994  12,778 
  NorthWestern Corp.      484,847  12,616 
*  El Paso Electric Co.      606,599  12,302 
  MGE Energy Inc.      311,781  11,143 
  UIL Holdings Corp.      383,588  10,771 
  Ormat Technologies Inc.      275,608  10,429 
  California Water Service Group      263,077  9,687 
  Laclede Group Inc.      284,056  9,593 
  CH Energy Group Inc.      212,983  9,056 
  American States Water Co.      249,548  8,836 
  Empire District Electric Co.      465,225  8,714 
  SJW Corp.      187,673  4,236 
  Chesapeake Utilities Corp.      120,287  3,855 
  Central Vermont Public Service Corp.      158,021  3,287 
  Middlesex Water Co.      182,105  3,211 
  Connecticut Water Service Inc.      115,326  2,857 
  Consolidated Water Co. Ltd.      186,933  2,671 
*  China Natural Gas Inc.      178,391  1,984 
          634,669 
 
Total Common Stocks (Cost $16,623,023)        17,239,723 
 
 
    Coupon       
 
Convertible Preferred Stocks (0.0%)         
Consumer Discretionary (0.0%)         
2  Sealy Corp. Pfd. (Cost $1,214)  8.000%    11,758  1,006 
 
 
Temporary Cash Investments (2.1%)1         
Money Market Fund (2.1%)         
3,4  Vanguard Market Liquidity Fund  0.187%    362,130,342  362,130 
 
        Face   
      Maturity  Amount   
      Date  ($000)   
U.S. Government and Agency Obligations (0.0%)         
5,6  Fannie Mae Discount Notes  0.100%  3/10/10  2,000  2,000 

28


Vanguard® Small-Cap Index Fund         
Schedule of Investments         
December 31, 2009         
        Face  Market 
      Maturity  Amount  Value 
    Coupon  Date  ($000)  ($000) 
5,6  Freddie Mac Discount Notes  0.111%  3/31/10  2,500  2,499 
5,6  Freddie Mac Discount Notes  0.230%  6/21/10  2,000  1,998 
          6,497 
 
Total Temporary Cash Investments (Cost $364,630)        368,627 
Total Investments (101.8%) (Cost $16,988,867)        17,609,356 
Other Assets and Liabilities—Net (-1.8%)4        (318,435) 
Net Assets (100%)        17,290,921 

* Non-income-producing security.
^ Part of security position is on loan to broker-dealers. The total value of securities on loan is $265,570,000.
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 1.8%, respectively, of net
assets.
2 Non-income producing security - new issue that has not paid a dividend as of December 31, 2009.
3 Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by Vanguard. Rate shown is the 7-day
yield.
4 Includes $301,596,000 of collateral received for securities on loan.
5 The issuer operates under a congressional charter; its securities are not backed by the full faith and credit of the U.S. government.
6 Securities with a value of $6,497,000 have been segregated as initial margin for open futures contracts.

29


Vanguard® Small-Cap Growth Index Fund
Schedule of Investments
December 31, 2009

      Market 
      Value 
    Shares  ($000) 
 
Common Stocks (99.8%)1     
Consumer Discretionary (17.0%)     
*  Chico's FAS Inc.  1,424,004  20,007 
  Gentex Corp.  1,106,420  19,750 
*  Big Lots Inc.  663,067  19,216 
*  Sirius XM Radio Inc.  31,268,031  18,761 
*  Aeropostale Inc.  541,984  18,455 
*  Hanesbrands Inc.  761,000  18,348 
*  J Crew Group Inc.  404,025  18,076 
*  Dick's Sporting Goods Inc.  702,389  17,468 
*  Bally Technologies Inc.  416,721  17,206 
  Phillips-Van Heusen Corp.  414,468  16,861 
*  WMS Industries Inc.  405,535  16,221 
*  Panera Bread Co. Class A  239,430  16,035 
*  Warnaco Group Inc.  364,927  15,396 
  John Wiley & Sons Inc. Class A  353,185  14,791 
*  Tractor Supply Co.  260,505  13,796 
*  TRW Automotive Holdings Corp.  556,515  13,290 
*  Tempur-Pedic International Inc.  541,505  12,796 
*  Fossil Inc.  374,913  12,582 
  Sotheby's  537,357  12,080 
*  Brink's Home Security Holdings Inc.  367,645  12,000 
*  Liberty Media Corp. - Capital  469,266  11,206 
  Polaris Industries Inc.  249,149  10,870 
*  Deckers Outdoor Corp.  105,589  10,741 
*  Career Education Corp.  444,696  10,366 
*  Gymboree Corp.  238,078  10,354 
  Aaron's Inc.  372,994  10,343 
*  Cheesecake Factory Inc.  459,079  9,912 
*  Lululemon Athletica Inc.  310,224  9,338 
*  Office Depot Inc.  1,434,403  9,252 
*  Corinthian Colleges Inc.  664,776  9,154 
  Thor Industries Inc.  289,519  9,091 
*  New York Times Co. Class A  712,616  8,808 
  Matthews International Corp. Class A  243,709  8,635 
*  Capella Education Co.  114,184  8,598 
*  Tenneco Inc.  476,866  8,455 
*  Scientific Games Corp. Class A  558,700  8,129 
*  OfficeMax Inc.  612,907  7,778 
*  DreamWorks Animation SKG Inc. Class A  190,574  7,613 
*  Morningstar Inc.  155,523  7,518 
  Pool Corp.  391,453  7,469 
*  Life Time Fitness Inc.  298,316  7,437 
*  Blue Nile Inc.  116,780  7,396 
*,^  Under Armour Inc. Class A  271,048  7,391 
  NutriSystem Inc.  223,664  6,972 
*  Coinstar Inc.  245,016  6,807 
*  PF Chang's China Bistro Inc.  178,290  6,759 
*  Childrens Place Retail Stores Inc.  202,157  6,673 
*  AnnTaylor Stores Corp.  471,234  6,428 
*  JOS A Bank Clothiers Inc.  146,787  6,193 
*  Carter's Inc.  228,063  5,987 
*  CEC Entertainment Inc.  185,458  5,920 
*  Eastman Kodak Co.  1,400,313  5,909 
  Brunswick Corp.  460,892  5,858 
  National CineMedia Inc.  338,385  5,607 
*  Buffalo Wild Wings Inc.  137,560  5,540 
*  CTC Media Inc.  366,709  5,464 
*  Steven Madden Ltd.  130,737  5,392 
*  Hibbett Sports Inc.  229,977  5,057 
*  Sally Beauty Holdings Inc.  658,277  5,036 
*  Vail Resorts Inc.  133,204  5,035 
*  Penske Auto Group Inc.  330,911  5,023 

30


Vanguard® Small-Cap Growth Index Fund
Schedule of Investments
December 31, 2009

      Market 
      Value 
    Shares  ($000) 
  Arbitron Inc.  213,003  4,989 
  Monro Muffler Brake Inc.  148,940  4,981 
*  American Public Education Inc.  138,812  4,770 
*  Sonic Corp.  465,857  4,691 
*  Texas Roadhouse Inc. Class A  417,032  4,683 
*  Fuel Systems Solutions Inc.  112,871  4,655 
*  Valassis Communications Inc.  251,122  4,585 
*  Steiner Leisure Ltd.  111,294  4,425 
*  Exide Technologies  606,676  4,313 
*  Papa John's International Inc.  180,357  4,213 
  Choice Hotels International Inc.  132,792  4,204 
*  American Axle & Manufacturing Holdings Inc.  502,937  4,034 
*  CROCS Inc.  689,281  3,963 
*  Interval Leisure Group Inc.  316,960  3,953 
*  Ticketmaster Entertainment Inc.  322,436  3,940 
*  Ulta Salon Cosmetics & Fragrance Inc.  208,949  3,795 
*  Dress Barn Inc.  161,706  3,735 
*  True Religion Apparel Inc.  193,433  3,577 
*  Shuffle Master Inc.  430,744  3,549 
*  Peet's Coffee & Tea Inc.  104,253  3,475 
  Ryland Group Inc.  175,958  3,466 
*  Drew Industries Inc.  164,717  3,401 
*  hhgregg Inc.  149,492  3,293 
*  Universal Technical Institute Inc.  161,913  3,271 
^  Buckle Inc.  111,535  3,266 
*  Citi Trends Inc.  118,084  3,261 
  PetMed Express Inc.  183,442  3,234 
*  Live Nation Inc.  371,109  3,158 
*  RCN Corp.  287,770  3,122 
*  DineEquity Inc.  120,233  2,920 
*  Lumber Liquidators Inc.  108,376  2,904 
*  BJ's Restaurants Inc.  150,419  2,831 
*  K12 Inc.  139,492  2,828 
*  Skechers U.S.A. Inc. Class A  94,657  2,784 
  National Presto Industries Inc.  25,067  2,738 
*  Shutterfly Inc.  153,421  2,732 
*  Knology Inc.  246,046  2,694 
*  Maidenform Brands Inc.  159,380  2,660 
*  iRobot Corp.  150,762  2,653 
*  Wet Seal Inc. Class A  740,653  2,555 
*  Universal Electronics Inc.  109,946  2,553 
*  Saks Inc.  387,859  2,544 
*  California Pizza Kitchen Inc.  184,302  2,479 
*  Grand Canyon Education Inc.  128,219  2,437 
*  HSN Inc.  118,493  2,392 
*,^  Fuqi International Inc.  133,205  2,391 
*  Pre-Paid Legal Services Inc.  57,319  2,355 
*  Lincoln Educational Services Corp.  108,098  2,342 
*  Volcom Inc.  137,072  2,295 
*  FGX International Holdings Ltd.  115,587  2,264 
*  HOT Topic Inc.  354,151  2,252 
*  Orbitz Worldwide Inc.  301,698  2,214 
*  ArvinMeritor Inc.  197,615  2,209 
*  Zumiez Inc.  169,636  2,158 
*  Liz Claiborne Inc.  380,716  2,143 
*  Modine Manufacturing Co.  180,785  2,141 
*  Coldwater Creek Inc.  477,456  2,129 
*  Charming Shoppes Inc.  324,537  2,100 
*  Retail Ventures Inc.  235,962  2,098 
  Callaway Golf Co.  258,247  1,947 
*,^  Lions Gate Entertainment Corp.  329,609  1,915 
*  Pier 1 Imports Inc.  363,544  1,850 
*  Dolan Media Co.  180,580  1,844 
  Ambassadors Group Inc.  135,636  1,803 

31


Vanguard® Small-Cap Growth Index Fund
Schedule of Investments
December 31, 2009

      Market 
      Value 
    Shares  ($000) 
*  CKX Inc.  335,069  1,766 
*  99 Cents Only Stores  134,856  1,763 
*  Smith & Wesson Holding Corp.  428,192  1,751 
*,^  Overstock.com Inc.  127,896  1,734 
*  Denny's Corp.  775,662  1,699 
*  AFC Enterprises Inc.  203,299  1,659 
*,^  Hovnanian Enterprises Inc. Class A  426,075  1,636 
*  Meritage Homes Corp.  84,330  1,630 
*  DSW Inc. Class A  59,012  1,527 
*  Pinnacle Entertainment Inc.  168,241  1,511 
*  Federal Mogul Corp.  83,893  1,451 
*  Mediacom Communications Corp. Class A  323,919  1,448 
*  Krispy Kreme Doughnuts Inc.  460,110  1,357 
*  Wonder Auto Technology Inc.  97,569  1,147 
  K-Swiss Inc. Class A  107,771  1,071 
*  Isle of Capri Casinos Inc.  142,419  1,065 
*  Martha Stewart Living Omnimedia Class A  213,680  1,056 
*  Pacific Sunwear Of California  264,822  1,054 
*  LIN TV Corp. Class A  224,046  999 
*  Gaiam Inc. Class A  127,984  984 
*  Morgans Hotel Group Co.  214,450  971 
*  Stamps.com Inc.  103,841  935 
  Systemax Inc.  59,144  929 
*  New York & Co. Inc.  215,596  925 
*  Fisher Communications Inc.  55,852  908 
*,^  Talbots Inc.  100,017  891 
*  American Apparel Inc.  256,976  797 
*  M/I Homes Inc.  70,810  736 
*,^  Blockbuster Inc. Class A  876,513  587 
*  1-800-Flowers.com Inc. Class A  212,239  562 
  Sturm Ruger & Co. Inc.  53,083  515 
  Spartan Motors Inc.  86,842  489 
*,^  Raser Technologies Inc.  389,360  483 
*  Monarch Casino & Resort Inc.  50,126  406 
*  Leapfrog Enterprises Inc.  97,582  382 
*  Outdoor Channel Holdings Inc.  56,314  327 
  Marine Products Corp.  57,401  283 
*  Zale Corp.  89,286  243 
*  Blockbuster Inc. Class B  272,789  161 
      871,643 
Consumer Staples (3.3%)     
*  Green Mountain Coffee Roasters Inc.  279,487  22,770 
  Herbalife Ltd.  495,612  20,107 
*  NBTY Inc.  447,333  19,477 
*  Chattem Inc.  137,493  12,828 
*  BJ's Wholesale Club Inc.  289,831  9,480 
*  United Natural Foods Inc.  328,180  8,776 
  Corn Products International Inc.  299,791  8,763 
*  Rite Aid Corp.  4,975,652  7,513 
*  Bare Escentuals Inc.  517,293  6,326 
*  American Italian Pasta Co.  168,469  5,861 
*  Darling International Inc.  660,522  5,535 
  Diamond Foods Inc.  132,403  4,706 
*  Boston Beer Co. Inc. Class A  76,725  3,575 
*  TreeHouse Foods Inc.  89,472  3,477 
*  Zhongpin Inc.  213,666  3,335 
*  Alliance One International Inc.  680,451  3,321 
  Tootsie Roll Industries Inc.  113,157  3,098 
*  Smart Balance Inc.  478,038  2,868 
*,^  Great Atlantic & Pacific Tea Co.  181,511  2,140 
*,^  China Sky One Medical Inc.  87,006  1,979 
  Cal-Maine Foods Inc.  51,637  1,760 
*  Revlon Inc. Class A  96,924  1,649 
*,^  American Dairy Inc.  75,753  1,642 

32


Vanguard® Small-Cap Growth Index Fund
Schedule of Investments
December 31, 2009

      Market 
      Value 
    Shares  ($000) 
*  USANA Health Sciences Inc.  49,743  1,587 
  Calavo Growers Inc.  86,593  1,472 
  Coca-Cola Bottling Co. Consolidated  24,188  1,307 
  Arden Group Inc.  10,156  971 
*,^  American Oriental Bioengineering Inc.  176,201  819 
*  National Beverage Corp.  45,857  636 
*  China-Biotics Inc.  27,348  423 
*  Susser Holdings Corp.  23,819  205 
      168,406 
Energy (7.9%)     
  Core Laboratories NV  175,316  20,708 
*  Encore Acquisition Co.  423,884  20,355 
*  Atlas Energy Inc.  596,147  17,986 
  St. Mary Land & Exploration Co.  502,050  17,190 
*  Atwood Oceanics Inc.  464,131  16,639 
*  Superior Energy Services Inc.  628,049  15,255 
*  Comstock Resources Inc.  374,567  15,196 
*  Dril-Quip Inc.  250,904  14,171 
*  Arena Resources Inc.  308,111  13,286 
*  Brigham Exploration Co.  795,402  10,778 
  CARBO Ceramics Inc.  157,410  10,731 
*  Patriot Coal Corp.  689,265  10,656 
*  Exterran Holdings Inc.  476,884  10,229 
*  Bill Barrett Corp.  328,707  10,226 
*  Whiting Petroleum Corp.  142,954  10,214 
  Frontier Oil Corp.  840,732  10,122 
*  Gran Tierra Energy Inc.  1,654,690  9,481 
  Holly Corp.  343,133  8,794 
*  Key Energy Services Inc.  996,439  8,759 
*  Rosetta Resources Inc.  420,214  8,375 
*  Tetra Technologies Inc.  605,152  6,705 
*,^  ATP Oil & Gas Corp.  361,720  6,612 
*  BPZ Resources Inc.  683,157  6,490 
*  Complete Production Services Inc.  495,796  6,445 
  World Fuel Services Corp.  226,185  6,059 
*  Helix Energy Solutions Group Inc.  512,997  6,028 
*  Carrizo Oil & Gas Inc.  224,287  5,941 
*  Oil States International Inc.  139,452  5,479 
*  Unit Corp.  126,794  5,389 
*  Willbros Group Inc.  318,357  5,371 
*  McMoRan Exploration Co.  622,016  4,989 
*  Contango Oil & Gas Co.  101,756  4,784 
*,^  Goodrich Petroleum Corp.  195,311  4,756 
*  Hercules Offshore Inc.  910,382  4,352 
*  SEACOR Holdings Inc.  53,971  4,115 
*  Clean Energy Fuels Corp.  263,718  4,064 
*  Cal Dive International Inc.  485,418  3,670 
*  Pioneer Drilling Co.  434,838  3,435 
*  Tesco Corp.  256,815  3,315 
*,^  GMX Resources Inc.  238,225  3,273 
  Lufkin Industries Inc.  41,803  3,060 
*  Superior Well Services Inc.  179,642  2,562 
*  Gulfport Energy Corp.  222,859  2,552 
*  Venoco Inc.  189,673  2,473 
  RPC Inc.  237,178  2,467 
*  Rex Energy Corp.  192,394  2,309 
*  Northern Oil and Gas Inc.  191,676  2,269 
*  Matrix Service Co.  210,474  2,242 
*  Clayton Williams Energy Inc.  63,233  2,216 
*  Seahawk Drilling Inc.  92,925  2,095 
*  OYO Geospace Corp.  38,226  1,639 
*,^  Uranium Energy Corp.  429,277  1,623 
*  Basic Energy Services Inc.  179,857  1,601 
*  Hornbeck Offshore Services Inc.  65,855  1,533 

33


Vanguard® Small-Cap Growth Index Fund
Schedule of Investments
December 31, 2009

      Market 
      Value 
    Shares  ($000) 
*  Dawson Geophysical Co.  62,946  1,455 
*  International Coal Group Inc.  367,165  1,417 
*  Petroleum Development Corp.  75,004  1,366 
*  T-3 Energy Services Inc.  52,056  1,327 
*  Warren Resources Inc.  537,993  1,318 
  Crosstex Energy Inc.  206,439  1,249 
  W&T Offshore Inc.  96,510  1,129 
*  Bronco Drilling Co. Inc.  207,834  1,054 
*  Cheniere Energy Inc.  431,498  1,044 
*  Delta Petroleum Corp.  937,881  975 
*  Endeavour International Corp.  891,703  963 
*  Approach Resources Inc.  99,321  767 
  Vaalco Energy Inc.  162,381  739 
  Alon USA Energy Inc.  74,680  511 
*,^  Sulphco Inc.  268,775  180 
      406,558 
Financials (7.0%)     
*  MSCI Inc. Class A  804,407  25,580 
  Jones Lang LaSalle Inc.  335,563  20,268 
  Taubman Centers Inc.  426,764  15,325 
*  SVB Financial Group  327,238  13,643 
*  AmeriCredit Corp.  695,926  13,250 
*  Stifel Financial Corp.  217,322  12,874 
  Equity Lifestyle Properties Inc.  231,386  11,678 
*  Knight Capital Group Inc. Class A  714,388  11,002 
*,^  Federal National Mortgage Assn.  8,932,340  10,540 
*  Signature Bank/New York NY  326,071  10,402 
  Cash America International Inc.  236,760  8,277 
*,^  Federal Home Loan Mortgage Corp.  5,199,744  7,644 
*  Investment Technology Group Inc.  349,712  6,889 
  Sunstone Hotel Investors Inc.  764,438  6,788 
*  Interactive Brokers Group Inc.  331,071  5,867 
  First Citizens BancShares Inc. Class A  35,258  5,783 
*  Forest City Enterprises Inc. Class A  483,406  5,694 
*  Portfolio Recovery Associates Inc.  123,551  5,545 
  optionsXpress Holdings Inc.  347,848  5,374 
*  Pico Holdings Inc.  163,373  5,347 
  Apartment Investment & Management Co.  329,048  5,238 
*  Ezcorp Inc. Class A  293,626  5,053 
*  Alexander's Inc.  16,403  4,993 
  East West Bancorp Inc.  294,488  4,653 
*  Dollar Financial Corp.  193,537  4,579 
*  Investors Bancorp Inc.  413,848  4,527 
*  KBW Inc.  163,514  4,474 
*  First Cash Financial Services Inc.  191,672  4,253 
  PrivateBancorp Inc. Class A  446,536  4,005 
*  Greenlight Capital Re Ltd. Class A  168,810  3,979 
*  Riskmetrics Group Inc.  248,859  3,959 
  DuPont Fabros Technology Inc.  217,895  3,920 
*  Texas Capital Bancshares Inc.  272,408  3,803 
*  Credit Acceptance Corp.  86,806  3,654 
  Home Bancshares Inc.  149,993  3,610 
  MarketAxess Holdings Inc.  242,304  3,368 
*  GLG Partners Inc.  1,002,711  3,229 
  Nara Bancorp Inc.  277,190  3,143 
  Cohen & Steers Inc.  135,607  3,097 
*  Forestar Group Inc.  136,860  3,008 
*  Tejon Ranch Co.  102,478  2,994 
  Duff & Phelps Corp. Class A  159,648  2,915 
  Tower Group Inc.  118,858  2,782 
*  eHealth Inc.  169,201  2,780 
  PS Business Parks Inc.  53,589  2,682 
*  Beneficial Mutual Bancorp Inc.  263,268  2,591 
  First Financial Bankshares Inc.  46,835  2,540 

34


Vanguard® Small-Cap Growth Index Fund
Schedule of Investments
December 31, 2009

      Market 
      Value 
    Shares  ($000) 
  Suffolk Bancorp  76,956  2,286 
  Evercore Partners Inc. Class A  73,673  2,240 
*  Citizens Inc.  339,712  2,218 
  Danvers Bancorp Inc.  167,531  2,176 
*  Broadpoint Gleacher Securities Inc.  473,497  2,112 
  Harleysville National Corp.  327,817  2,111 
*  MGIC Investment Corp.  351,833  2,034 
*,^  Ambac Financial Group Inc.  2,310,272  1,917 
  Cardinal Financial Corp.  219,072  1,915 
*  MBIA Inc.  466,830  1,858 
  Calamos Asset Management Inc. Class A  157,203  1,813 
*  Pinnacle Financial Partners Inc.  125,214  1,781 
  Radian Group Inc.  231,455  1,692 
  Westwood Holdings Group Inc.  45,667  1,659 
*  International Assets Holding Corp.  111,114  1,616 
*  Hilltop Holdings Inc.  126,687  1,475 
  ViewPoint Financial Group  89,914  1,296 
  Saul Centers Inc.  37,700  1,235 
  Oritani Financial Corp.  89,269  1,226 
*  United Community Banks Inc.  336,267  1,140 
  Maiden Holdings Ltd.  148,416  1,086 
  GAMCO Investors Inc.  20,861  1,007 
*  FBR Capital Markets Corp.  160,779  994 
*  Cardtronics Inc.  84,219  932 
*  NewStar Financial Inc.  237,203  930 
  GFI Group Inc.  197,525  903 
*  Gramercy Capital Corp./New York  338,034  875 
  First Industrial Realty Trust Inc.  155,258  812 
*  TradeStation Group Inc.  94,251  744 
*  Meridian Interstate Bancorp Inc.  80,069  696 
  NorthStar Realty Finance Corp.  181,357  622 
*  Western Alliance Bancorp  161,799  612 
*  Strategic Hotels & Resorts Inc.  299,781  558 
*  Asset Acceptance Capital Corp.  79,259  537 
  Consolidated-Tomoka Land Co.  15,174  530 
^  Life Partners Holdings Inc.  20,584  436 
*  Crawford & Co. Class B  108,347  427 
*  Crawford & Co. Class A  120,012  401 
*  First Marblehead Corp.  179,873  383 
*  LaBranche & Co. Inc.  134,736  383 
  Roma Financial Corp.  30,798  381 
*  Avatar Holdings Inc.  21,881  372 
  Rockville Financial Inc.  35,019  368 
  CompuCredit Holdings Corp.  86,415  288 
  Universal Insurance Holdings Inc.  48,279  283 
*  Grubb & Ellis Co.  202,836  260 
  Teton Advisors Inc. Class B  264  1 
      359,220 
Health Care (17.5%)     
*  Human Genome Sciences Inc.  725,018  22,186 
*  Tenet Healthcare Corp.  3,864,242  20,828 
*  United Therapeutics Corp.  384,355  20,236 
*  Valeant Pharmaceuticals International  619,844  19,705 
*  VCA Antech Inc.  682,172  17,000 
*  BioMarin Pharmaceutical Inc.  805,549  15,152 
*  Bio-Rad Laboratories Inc. Class A  152,164  14,678 
*  OSI Pharmaceuticals Inc.  466,150  14,465 
*  Onyx Pharmaceuticals Inc.  490,915  14,403 
*  Healthsouth Corp.  709,325  13,314 
  Medicis Pharmaceutical Corp. Class A  477,288  12,911 
*  Thoratec Corp.  454,497  12,235 
*  Regeneron Pharmaceuticals Inc.  500,844  12,110 
*  Varian Inc.  232,213  11,968 
*  Masimo Corp.  393,410  11,968 

35


Vanguard® Small-Cap Growth Index Fund
Schedule of Investments
December 31, 2009

      Market 
      Value 
    Shares  ($000) 
*  American Medical Systems Holdings Inc.  596,780  11,512 
*  Immucor Inc.  566,250  11,461 
*  Haemonetics Corp.  206,371  11,381 
*  Salix Pharmaceuticals Ltd.  440,580  11,191 
*  Auxilium Pharmaceuticals Inc.  367,855  11,028 
*  Catalyst Health Solutions Inc.  300,286  10,951 
*,^  Amedisys Inc.  223,199  10,839 
*  PSS World Medical Inc.  477,927  10,787 
*  Allscripts-Misys Healthcare Solutions Inc.  523,828  10,597 
*  Dionex Corp.  142,252  10,508 
  West Pharmaceutical Services Inc.  264,270  10,359 
*  HMS Holdings Corp.  210,403  10,245 
*  NuVasive Inc.  302,759  9,682 
  Quality Systems Inc.  149,178  9,367 
*  Sirona Dental Systems Inc.  287,057  9,111 
*  Psychiatric Solutions Inc.  429,313  9,076 
*  Cubist Pharmaceuticals Inc.  464,072  8,803 
  Chemed Corp.  180,713  8,669 
*  Medivation Inc.  228,618  8,607 
*  Eclipsys Corp.  453,923  8,407 
*  Isis Pharmaceuticals Inc.  750,332  8,329 
*  WellCare Health Plans Inc.  221,133  8,129 
*  Align Technology Inc.  455,165  8,111 
*  athenahealth Inc.  175,427  7,936 
*  Acorda Therapeutics Inc.  305,483  7,704 
*  Incyte Corp. Ltd.  837,095  7,626 
*  Par Pharmaceutical Cos. Inc.  279,315  7,558 
*  ev3 Inc.  540,238  7,207 
*  Alkermes Inc.  758,220  7,135 
  Meridian Bioscience Inc.  325,506  7,015 
*  Nektar Therapeutics  744,327  6,937 
*  Seattle Genetics Inc.  668,380  6,791 
*  Brookdale Senior Living Inc.  371,602  6,759 
*  Parexel International Corp.  464,135  6,544 
*  Bruker Corp.  527,485  6,361 
*  Exelixis Inc.  862,235  6,355 
*  Integra LifeSciences Holdings Corp.  171,330  6,302 
*  Volcano Corp.  350,082  6,084 
*  Emergency Medical Services Corp. Class A  112,032  6,067 
*  Wright Medical Group Inc.  310,192  5,878 
*  Cepheid Inc.  466,944  5,827 
*  AMERIGROUP Corp.  210,846  5,684 
*  Vivus Inc.  602,548  5,537 
*  Phase Forward Inc.  347,158  5,329 
*,^  Cell Therapeutics Inc.  4,497,521  5,127 
*  Theravance Inc.  388,913  5,083 
*  Martek Biosciences Corp.  267,019  5,057 
*  Alnylam Pharmaceuticals Inc.  284,914  5,020 
*  Healthways Inc.  270,852  4,967 
*  MedAssets Inc.  225,019  4,773 
*  Luminex Corp.  316,605  4,727 
*,^  MannKind Corp.  535,270  4,689 
*  Savient Pharmaceuticals Inc.  344,414  4,687 
*  Conceptus Inc.  245,617  4,608 
*  Cyberonics Inc.  222,908  4,556 
*  Celera Corp.  657,220  4,541 
*  Zoll Medical Corp.  169,544  4,530 
*  Abaxis Inc.  176,767  4,516 
*  LHC Group Inc.  133,408  4,484 
*  Merit Medical Systems Inc.  213,453  4,118 
*  InterMune Inc.  314,859  4,106 
*  XenoPort Inc.  218,831  4,062 
*  Halozyme Therapeutics Inc.  684,681  4,019 
*  Neogen Corp.  169,490  4,002 

36


Vanguard® Small-Cap Growth Index Fund
Schedule of Investments
December 31, 2009

      Market 
      Value 
    Shares  ($000) 
*  Gentiva Health Services Inc.  144,460  3,902 
*  PharMerica Corp.  245,312  3,896 
*  ICU Medical Inc.  106,860  3,894 
*  Orthofix International NV  124,162  3,845 
*,^  Enzon Pharmaceuticals Inc.  364,712  3,840 
*  Bio-Reference Labs Inc.  94,148  3,690 
*  Affymax Inc.  149,093  3,689 
*  IPC The Hospitalist Co. Inc.  110,043  3,659 
*  Insulet Corp.  251,226  3,588 
*  Medicines Co.  423,718  3,534 
*  Pharmasset Inc.  169,752  3,514 
*  Hanger Orthopedic Group Inc.  252,916  3,498 
*  MWI Veterinary Supply Inc.  92,522  3,488 
*  Facet Biotech Corp.  197,345  3,469 
*  Natus Medical Inc.  227,831  3,370 
*  Affymetrix Inc.  567,298  3,313 
  PDL BioPharma Inc.  480,002  3,293 
*  SonoSite Inc.  138,923  3,283 
*,^  Emeritus Corp.  173,360  3,251 
*  Inspire Pharmaceuticals Inc.  561,772  3,101 
*  Air Methods Corp.  89,101  2,996 
*  Quidel Corp.  217,197  2,993 
*  Genoptix Inc.  82,148  2,919 
*  Omnicell Inc.  241,599  2,824 
*  SurModics Inc.  119,373  2,705 
*  Centene Corp.  127,623  2,702 
*  Arena Pharmaceuticals Inc.  744,082  2,641 
*,^  Geron Corp.  475,479  2,639 
*  AMAG Pharmaceuticals Inc.  68,842  2,618 
*  Allos Therapeutics Inc.  393,166  2,583 
*  DexCom Inc.  313,493  2,533 
*  Rigel Pharmaceuticals Inc.  260,152  2,474 
*  Micromet Inc.  358,668  2,389 
*  Almost Family Inc.  59,210  2,341 
*  Symmetry Medical Inc.  287,754  2,319 
*  Momenta Pharmaceuticals Inc.  183,417  2,313 
*  Cantel Medical Corp.  113,438  2,289 
*  Corvel Corp.  67,408  2,261 
*  Genomic Health Inc.  114,753  2,245 
*  Protalix BioTherapeutics Inc.  338,522  2,241 
*  ABIOMED Inc.  255,080  2,229 
*  Immunogen Inc.  283,059  2,225 
*  Questcor Pharmaceuticals Inc.  463,458  2,201 
*  Kensey Nash Corp.  80,406  2,050 
*  Accuray Inc.  364,034  2,042 
*  Nabi Biopharmaceuticals  407,843  1,998 
  Atrion Corp.  12,814  1,995 
*  eResearchTechnology Inc.  331,139  1,990 
*  Zymogenetics Inc.  305,112  1,950 
*  Orthovita Inc.  551,961  1,937 
*,^  Sequenom Inc.  466,859  1,933 
*  Sangamo Biosciences Inc.  324,793  1,923 
*  Dyax Corp.  562,277  1,906 
*  Ligand Pharmaceuticals Inc. Class B  847,607  1,839 
*  Viropharma Inc.  217,013  1,821 
*  IRIS International Inc.  143,812  1,778 
*  Cypress Bioscience Inc.  306,474  1,765 
*  Somanetics Corp.  96,806  1,699 
  Landauer Inc.  26,384  1,620 
*  Pain Therapeutics Inc.  287,088  1,539 
*  AMN Healthcare Services Inc.  169,805  1,538 
*  inVentiv Health Inc.  94,086  1,521 
*,^  Clinical Data Inc.  82,533  1,507 
*  Emergent Biosolutions Inc.  109,702  1,491 

37


Vanguard® Small-Cap Growth Index Fund
Schedule of Investments
December 31, 2009

      Market 
      Value 
    Shares  ($000) 
*  Durect Corp.  592,850  1,464 
*  Enzo Biochem Inc.  270,427  1,455 
*  Chindex International Inc.  102,443  1,448 
*,^  MAKO Surgical Corp.  128,722  1,429 
*,^  SIGA Technologies Inc.  240,717  1,396 
*  CryoLife Inc.  216,029  1,387 
*  Palomar Medical Technologies Inc.  137,585  1,387 
*  Vital Images Inc.  108,305  1,374 
*  NPS Pharmaceuticals Inc.  381,220  1,296 
*,^  Cadence Pharmaceuticals Inc.  131,364  1,270 
*  Greatbatch Inc.  65,218  1,254 
*  Stereotaxis Inc.  315,525  1,240 
*  ATS Medical Inc.  374,960  1,211 
*  Synovis Life Technologies Inc.  92,432  1,193 
*  Alliance HealthCare Services Inc.  207,018  1,182 
*  Exactech Inc.  66,712  1,155 
*  Pozen Inc.  191,406  1,147 
*  TomoTherapy Inc.  292,643  1,141 
*  Progenics Pharmaceuticals Inc.  252,067  1,119 
*  Maxygen Inc.  181,186  1,103 
*  Orexigen Therapeutics Inc.  144,621  1,076 
*  Lexicon Pharmaceuticals Inc.  622,934  1,059 
*  Albany Molecular Research Inc.  115,841  1,052 
*  Kendle International Inc.  56,819  1,040 
*  MAP Pharmaceuticals Inc.  107,737  1,027 
*  Clarient Inc.  374,904  994 
*  Myriad Pharmaceuticals Inc.  192,526  968 
*  OraSure Technologies Inc.  184,366  937 
*,^  XOMA Ltd.  1,317,375  921 
*  OncoGenex Pharmaceutical Inc.  40,916  912 
*  Akorn Inc.  468,738  839 
*,^  Virtual Radiologic Corp.  57,089  728 
*  Hansen Medical Inc.  238,885  724 
*  Opko Health Inc.  392,668  719 
*  CardioNet Inc.  113,895  677 
*  Arqule Inc.  169,350  625 
*,^  Osiris Therapeutics Inc.  84,758  605 
*  Idenix Pharmaceuticals Inc.  264,438  569 
*  Caraco Pharmaceutical Laboratories Ltd.  93,956  568 
*,^  GTx Inc.  130,814  549 
*  Sunrise Senior Living Inc.  128,067  412 
*  Sucampo Pharmaceuticals Inc. Class A  62,392  252 
*  KV Pharmaceutical Co. Class A  67,673  248 
*  KV Pharmaceutical Co. Class B  26,991  107 
      900,515 
Industrials (16.6%)     
  Oshkosh Corp.  702,377  26,009 
*  Waste Connections Inc.  643,487  21,454 
  IDEX Corp.  648,331  20,195 
  Gardner Denver Inc.  417,725  17,774 
*  UAL Corp.  1,341,727  17,322 
*  Monster Worldwide Inc.  960,810  16,718 
  Towers Watson & Co. Class A  342,854  16,292 
  Landstar System Inc.  412,224  15,982 
*  Thomas & Betts Corp.  424,601  15,196 
  Wabtec Corp.  362,918  14,822 
  TransDigm Group Inc.  311,560  14,796 
*  Kirby Corp.  410,640  14,303 
*,^  American Superconductor Corp.  336,525  13,764 
  CLARCOR Inc.  409,199  13,274 
*  Tetra Tech Inc.  486,586  13,220 
*  Continental Airlines Inc. Class B  720,891  12,918 
  Woodward Governor Co.  491,118  12,656 
  Acuity Brands Inc.  346,174  12,338 

38


Vanguard® Small-Cap Growth Index Fund
Schedule of Investments
December 31, 2009

      Market 
      Value 
    Shares  ($000) 
*  General Cable Corp.  417,557  12,284 
  Toro Co.  288,331  12,055 
*  BE Aerospace Inc.  501,813  11,793 
  Valmont Industries Inc.  147,783  11,594 
*  Clean Harbors Inc.  189,453  11,293 
  UTi Worldwide Inc.  764,166  10,943 
*  Avis Budget Group Inc.  819,194  10,748 
*  MPS Group Inc.  748,234  10,281 
*  Hexcel Corp.  776,424  10,078 
*  Genesee & Wyoming Inc. Class A  308,287  10,062 
  Actuant Corp. Class A  532,454  9,866 
  Knight Transportation Inc.  500,922  9,663 
*  Geo Group Inc.  412,036  9,015 
*  HUB Group Inc. Class A  298,524  8,009 
  ESCO Technologies Inc.  211,258  7,574 
  Mine Safety Appliances Co.  274,188  7,274 
  Heartland Express Inc.  473,501  7,230 
*  SYKES Enterprises Inc.  282,160  7,187 
  Herman Miller Inc.  448,946  7,174 
  Healthcare Services Group Inc.  331,677  7,118 
*  EMCOR Group Inc.  264,596  7,118 
*  Orbital Sciences Corp.  453,257  6,917 
  Rollins Inc.  358,496  6,912 
*  Old Dominion Freight Line Inc.  224,655  6,897 
  Manitowoc Co. Inc.  681,636  6,796 
*  Middleby Corp.  133,847  6,561 
*  CoStar Group Inc.  154,868  6,469 
*  II-VI Inc.  201,728  6,415 
  Corporate Executive Board Co.  274,222  6,258 
*  US Airways Group Inc.  1,271,883  6,156 
*  Navigant Consulting Inc.  401,647  5,968 
  Forward Air Corp.  232,776  5,831 
*  Beacon Roofing Supply Inc.  362,508  5,800 
  American Science & Engineering Inc.  71,153  5,396 
*  AirTran Holdings Inc.  1,015,520  5,301 
  Robbins & Myers Inc.  224,239  5,274 
*  Teledyne Technologies Inc.  137,438  5,272 
*  GrafTech International Ltd.  338,351  5,261 
*  Dollar Thrifty Automotive Group Inc.  199,750  5,116 
  Graco Inc.  168,534  4,815 
  Cubic Corp.  128,853  4,806 
*  Resources Connection Inc.  225,153  4,778 
*  AAR Corp.  202,937  4,663 
  HEICO Corp.  104,727  4,643 
*,^  Allegiant Travel Co. Class A  96,300  4,542 
  Badger Meter Inc.  113,635  4,525 
*  Orion Marine Group Inc.  209,937  4,421 
  Administaff Inc.  184,681  4,357 
*  EnerNOC Inc.  142,141  4,320 
  Heidrick & Struggles International Inc.  136,759  4,272 
*  United Rentals Inc.  434,716  4,265 
*  DynCorp International Inc. Class A  293,704  4,215 
*  GeoEye Inc.  149,445  4,166 
*  Astec Industries Inc.  153,873  4,145 
  Raven Industries Inc.  130,288  4,139 
*  Mobile Mini Inc.  285,003  4,016 
  Knoll Inc.  377,712  3,902 
*  Cenveo Inc.  445,704  3,900 
*,^  Energy Conversion Devices Inc.  367,512  3,885 
*  Advisory Board Co.  124,712  3,824 
*  ATC Technology Corp./IL  159,536  3,805 
  John Bean Technologies Corp.  221,616  3,770 
  Lindsay Corp.  93,985  3,745 
  Mueller Industries Inc.  149,861  3,722 

39


Vanguard® Small-Cap Growth Index Fund
Schedule of Investments
December 31, 2009

      Market 
      Value 
    Shares  ($000) 
*  M&F Worldwide Corp.  93,207  3,682 
*  ICF International Inc.  135,888  3,642 
*  Huron Consulting Group Inc.  155,577  3,584 
*  Aerovironment Inc.  121,034  3,520 
  Baldor Electric Co.  124,422  3,495 
*  Esterline Technologies Corp.  83,435  3,402 
*  TrueBlue Inc.  228,573  3,385 
*  AZZ Inc.  97,880  3,201 
*  Stanley Inc.  115,778  3,173 
*  Exponent Inc.  110,716  3,082 
*  Harbin Electric Inc.  148,535  3,051 
*  Korn/Ferry International  183,416  3,026 
  Simpson Manufacturing Co. Inc.  110,360  2,968 
*  Force Protection Inc.  561,591  2,926 
*  Hawaiian Holdings Inc.  414,755  2,903 
*  CBIZ Inc.  375,189  2,889 
*  Cornell Cos. Inc.  125,279  2,844 
*  RBC Bearings Inc.  113,061  2,751 
*  USG Corp.  195,299  2,744 
  Great Lakes Dredge & Dock Corp.  422,982  2,741 
*  MYR Group Inc.  150,742  2,725 
*  Team Inc.  143,953  2,708 
*  Michael Baker Corp.  64,244  2,660 
*  GenCorp Inc.  375,993  2,632 
*  LB Foster Co. Class A  81,677  2,435 
*,^  Ener1 Inc.  375,480  2,380 
*  Marten Transport Ltd.  131,896  2,367 
*  Polypore International Inc.  196,172  2,334 
*  Power-One Inc.  530,855  2,309 
*  K-Tron International Inc.  20,508  2,230 
*  Powell Industries Inc.  69,141  2,180 
*  FuelCell Energy Inc.  558,517  2,100 
  Dynamic Materials Corp.  103,451  2,074 
*  Taser International Inc.  472,623  2,070 
  AAON Inc.  103,065  2,009 
  HEICO Corp. Class A  54,806  1,971 
*,^  Capstone Turbine Corp.  1,511,570  1,950 
  Standex International Corp.  94,024  1,889 
*,^  Energy Recovery Inc.  260,904  1,795 
*,^  Genco Shipping & Trading Ltd.  79,993  1,790 
*  Standard Parking Corp.  110,711  1,758 
  Viad Corp.  82,420  1,700 
  Kaman Corp.  71,891  1,660 
*  Blount International Inc.  162,419  1,640 
*  Kforce Inc.  130,491  1,631 
*  Saia Inc.  108,161  1,603 
  Houston Wire & Cable Co.  134,172  1,597 
*,^  GT Solar International Inc.  287,050  1,596 
*  CRA International Inc.  57,022  1,520 
*  Sterling Construction Co. Inc.  77,549  1,487 
*  RSC Holdings Inc.  207,046  1,458 
*  Vicor Corp.  155,640  1,447 
*  Metalico Inc.  279,706  1,376 
*  APAC Customer Services Inc.  228,281  1,361 
*  Innerworkings Inc.  219,086  1,293 
*  Patriot Transportation Holding Inc.  13,468  1,272 
*,^  Evergreen Solar Inc.  792,529  1,197 
*  Hill International Inc.  186,407  1,163 
*  ACCO Brands Corp.  153,524  1,118 
*  Fuel Tech Inc.  135,457  1,107 
*  Furmanite Corp.  279,740  1,066 
  Applied Signal Technology Inc.  49,822  961 
*  Amerco Inc.  19,288  959 
  Sun Hydraulics Corp.  35,529  933 

40


Vanguard® Small-Cap Growth Index Fund
Schedule of Investments
December 31, 2009

      Market 
      Value 
    Shares  ($000) 
*,^  China Fire & Security Group Inc.  66,100  894 
*  3D Systems Corp.  77,329  874 
*  Fushi Copperweld Inc.  79,552  805 
  Bowne & Co. Inc.  106,867  714 
*  American Commercial Lines Inc.  38,434  704 
*  Argan Inc.  48,308  695 
*  Northwest Pipe Co.  25,789  693 
*  Pike Electric Corp.  73,376  681 
*  Titan Machinery Inc.  53,515  618 
*,^  Valence Technology Inc.  506,465  461 
  Pacer International Inc.  139,218  440 
  Sauer-Danfoss Inc.  33,773  406 
*,^  YRC Worldwide Inc.  474,635  399 
  Universal Truckload Services Inc.  17,843  323 
  Standard Register Co.  50,012  255 
*  Plug Power Inc.  334,586  238 
*  Odyssey Marine Exploration Inc.  156,326  220 
  Lawson Products Inc.  11,893  210 
      851,783 
Information Technology (25.9%)     
*  Rovi Corp.  816,809  26,032 
*  Itron Inc.  321,272  21,708 
*  Varian Semiconductor Equipment Associates Inc.  588,973  21,132 
*  MICROS Systems Inc.  645,849  20,041 
*  CommScope Inc.  751,862  19,947 
  Solera Holdings Inc.  530,651  19,109 
*  VistaPrint NV  326,676  18,509 
*  Informatica Corp.  709,782  18,355 
*  Atheros Communications Inc.  535,022  18,319 
*  QLogic Corp.  948,686  17,902 
*  Polycom Inc.  675,265  16,861 
*  Silicon Laboratories Inc.  342,306  16,547 
*  Atmel Corp.  3,442,458  15,870 
*  Parametric Technology Corp.  933,267  15,250 
*,^  WebMD Health Corp.  392,489  15,107 
  Jack Henry & Associates Inc.  642,474  14,854 
*  Concur Technologies Inc.  332,190  14,201 
*  Sohu.com Inc.  246,344  14,111 
*  JDS Uniphase Corp.  1,706,876  14,082 
  National Instruments Corp.  467,676  13,773 
*  TIBCO Software Inc.  1,402,779  13,509 
*  Zebra Technologies Corp.  474,659  13,461 
*  Cypress Semiconductor Corp.  1,244,295  13,140 
*  Unisys Corp.  339,592  13,095 
*  Rambus Inc.  520,379  12,697 
*,^  Palm Inc.  1,238,801  12,438 
*  Microsemi Corp.  653,545  11,600 
*  Anixter International Inc.  241,086  11,355 
*  Gartner Inc.  615,775  11,109 
*  Blackboard Inc.  244,219  11,085 
*  MercadoLibre Inc.  212,567  11,026 
*  Cybersource Corp.  529,787  10,654 
*  Riverbed Technology Inc.  446,706  10,261 
  ADTRAN Inc.  453,927  10,236 
  Plantronics Inc.  392,745  10,203 
*  VeriFone Holdings Inc.  610,702  10,003 
*  Teradyne Inc.  911,530  9,781 
*  Wright Express Corp.  291,210  9,278 
*  Tessera Technologies Inc.  398,215  9,266 
*  InterDigital Inc./PA  346,469  9,195 
*  Quest Software Inc.  496,060  9,127 
*  Blue Coat Systems Inc.  319,256  9,112 
*  Plexus Corp.  317,146  9,039 
*  Genpact Ltd.  606,223  9,033 

41


Vanguard® Small-Cap Growth Index Fund
Schedule of Investments
December 31, 2009

      Market 
      Value 
    Shares  ($000) 
*  TiVo Inc.  870,422  8,861 
*  Cymer Inc.  227,030  8,713 
*  FormFactor Inc.  397,451  8,648 
*  Mantech International Corp. Class A  176,698  8,531 
*  Digital River Inc.  309,596  8,356 
*,^  Synaptics Inc.  272,621  8,356 
  Blackbaud Inc.  352,176  8,322 
*  Rackspace Hosting Inc.  389,158  8,114 
*  GSI Commerce Inc.  317,569  8,063 
*  Euronet Worldwide Inc.  366,188  8,038 
*  Ciena Corp.  732,146  7,936 
*  Comtech Telecommunications Corp.  226,166  7,927 
*  PMC - Sierra Inc.  903,061  7,820 
  Power Integrations Inc.  213,838  7,775 
  Syntel Inc.  200,269  7,616 
*  CommVault Systems Inc.  318,810  7,553 
*  Vishay Intertechnology Inc.  899,523  7,511 
*  j2 Global Communications Inc.  361,627  7,359 
*  AsiaInfo Holdings Inc.  238,511  7,267 
*  Viasat Inc.  228,572  7,264 
*  TriQuint Semiconductor Inc.  1,209,633  7,258 
*  Cavium Networks Inc.  299,909  7,147 
*  ValueClick Inc.  700,058  7,085 
*  FEI Co.  301,795  7,050 
*  Sapient Corp.  848,957  7,021 
*  Netlogic Microsystems Inc.  151,287  6,998 
*  MicroStrategy Inc. Class A  73,406  6,902 
*  Amkor Technology Inc.  955,761  6,843 
*  SRA International Inc. Class A  349,089  6,668 
*  MKS Instruments Inc.  377,390  6,570 
*  Taleo Corp. Class A  277,343  6,523 
*  Veeco Instruments Inc.  197,258  6,517 
*  Hittite Microwave Corp.  157,048  6,400 
*  Cabot Microelectronics Corp.  188,191  6,203 
*  Infinera Corp.  691,829  6,136 
*  Verigy Ltd.  471,714  6,071 
*  Net 1 UEPS Technologies Inc.  309,207  6,005 
*  TeleTech Holdings Inc.  298,972  5,988 
*  SuccessFactors Inc.  360,684  5,980 
*  Coherent Inc.  196,470  5,841 
*  DealerTrack Holdings Inc.  307,595  5,780 
*  Arris Group Inc.  502,434  5,743 
*  Scansource Inc.  213,434  5,699 
*  Monolithic Power Systems Inc.  234,663  5,625 
*  Diodes Inc.  273,047  5,584 
*  Ultimate Software Group Inc.  187,887  5,518 
*  Rofin-Sinar Technologies Inc.  232,318  5,485 
*  Semtech Corp.  318,953  5,425 
*,^  Advent Software Inc.  132,949  5,415 
*  CSG Systems International Inc.  282,077  5,385 
*  Tyler Technologies Inc.  269,914  5,374 
  Cognex Corp.  302,738  5,364 
*  Aruba Networks Inc.  487,732  5,199 
*  Intermec Inc.  399,089  5,132 
*  Quantum Corp.  1,702,071  4,987 
*  Harmonic Inc.  771,968  4,887 
*,^  STEC Inc.  298,297  4,874 
*  Compuware Corp.  667,882  4,829 
*  DTS Inc./CA  140,490  4,806 
*  Progress Software Corp.  161,111  4,706 
*  Art Technology Group Inc.  1,022,843  4,613 
*  DG FastChannel Inc.  162,397  4,536 
  Pegasystems Inc.  131,462  4,470 
*  Ariba Inc.  354,941  4,444 

42


Vanguard® Small-Cap Growth Index Fund
Schedule of Investments
December 31, 2009

      Market 
      Value 
    Shares  ($000) 
*  Brooks Automation Inc.  517,315  4,439 
*  International Rectifier Corp.  200,216  4,429 
*  Manhattan Associates Inc.  180,822  4,345 
*  SAVVIS Inc.  305,333  4,290 
*  Advanced Energy Industries Inc.  269,970  4,071 
*  Websense Inc.  230,755  4,029 
*  TTM Technologies Inc.  346,500  3,995 
*  Applied Micro Circuits Corp.  532,251  3,976 
*  Compellent Technologies Inc.  174,631  3,961 
*  Netgear Inc.  179,955  3,903 
*  Omnivision Technologies Inc.  264,631  3,845 
*  Cogent Inc.  360,115  3,742 
*  Finisar Corp.  413,609  3,689 
*  Standard Microsystems Corp.  176,988  3,678 
*  Switch & Data Facilities Co. Inc.  180,574  3,649 
*  Entegris Inc.  668,254  3,528 
*  Fairchild Semiconductor International Inc. Class A  348,441  3,481 
*  Volterra Semiconductor Corp.  181,777  3,476 
*  EPIQ Systems Inc.  246,873  3,454 
*  OSI Systems Inc.  126,477  3,450 
*  Sourcefire Inc.  128,316  3,432 
*  ArcSight Inc.  133,163  3,406 
*  Cirrus Logic Inc.  498,117  3,397 
*  TNS Inc.  131,978  3,390 
*  Maxwell Technologies Inc.  187,818  3,351 
*  Netscout Systems Inc.  226,957  3,323 
*  Forrester Research Inc.  127,452  3,307 
*  SonicWALL Inc.  432,618  3,292 
*  Universal Display Corp.  263,583  3,258 
*  TeleCommunication Systems Inc. Class A  331,329  3,207 
*  RightNow Technologies Inc.  178,400  3,099 
*  IPG Photonics Corp.  182,856  3,061 
*  ATMI Inc.  163,846  3,051 
*  ACI Worldwide Inc.  177,667  3,047 
*  Netezza Corp.  312,985  3,036 
*  Integrated Device Technology Inc.  465,525  3,012 
  NIC Inc.  329,214  3,009 
*,^  Ebix Inc.  58,127  2,838 
*  RealNetworks Inc.  757,923  2,812 
*  S1 Corp.  425,198  2,772 
*  comScore Inc.  157,382  2,762 
*  Constant Contact Inc.  170,624  2,730 
*  Oplink Communications Inc.  164,473  2,696 
*  Stratasys Inc.  154,406  2,668 
*  Vocus Inc.  147,378  2,653 
*  3PAR Inc.  222,756  2,640 
*  FARO Technologies Inc.  122,823  2,633 
*  Supertex Inc.  88,081  2,625 
*  Tekelec  169,913  2,596 
*  L-1 Identity Solutions Inc.  345,480  2,588 
*  Acme Packet Inc.  233,413  2,568 
  Daktronics Inc.  278,453  2,565 
*  Synchronoss Technologies Inc.  161,934  2,560 
*  Sanmina-SCI Corp.  228,944  2,525 
*  Terremark Worldwide Inc.  363,685  2,488 
*  Ultratech Inc.  166,540  2,475 
*  Global Cash Access Holdings Inc.  319,704  2,395 
  Heartland Payment Systems Inc.  180,624  2,372 
*  Pericom Semiconductor Corp.  204,315  2,356 
*  Super Micro Computer Inc.  209,080  2,325 
*  Knot Inc.  230,438  2,320 
*  Sonus Networks Inc.  1,099,432  2,320 
*  Sigma Designs Inc.  213,774  2,287 
*  Multi-Fineline Electronix Inc.  80,624  2,287 

43


Vanguard® Small-Cap Growth Index Fund
Schedule of Investments
December 31, 2009

      Market 
      Value 
    Shares  ($000) 
*  Kopin Corp.  531,975  2,224 
*  LoopNet Inc.  221,636  2,203 
*  Radiant Systems Inc.  211,734  2,202 
*  Anadigics Inc.  508,021  2,144 
*  Smith Micro Software Inc.  234,339  2,142 
*  Kenexa Corp.  163,011  2,127 
*  ExlService Holdings Inc.  115,846  2,104 
*  ShoreTel Inc.  355,169  2,053 
*  Hughes Communications Inc.  78,154  2,034 
*  Intevac Inc.  175,773  2,016 
*,^  NetSuite Inc.  124,567  1,991 
*  Novatel Wireless Inc.  246,287  1,963 
*  Internet Capital Group Inc.  295,156  1,963 
  iGate Corp.  196,147  1,961 
*  Move Inc.  1,178,964  1,957 
*,^  Rubicon Technology Inc.  96,286  1,956 
*  Comverge Inc.  168,863  1,898 
*  Interactive Intelligence Inc.  102,876  1,897 
*  Echelon Corp.  158,848  1,836 
*  DemandTec Inc.  204,052  1,789 
*  i2 Technologies Inc.  93,520  1,788 
  MTS Systems Corp.  60,109  1,727 
*  Digi International Inc.  188,284  1,717 
*  Anaren Inc.  110,470  1,663 
*  Zoran Corp.  144,795  1,600 
  Cass Information Systems Inc.  51,756  1,573 
*  China Security & Surveillance Technology Inc.  204,483  1,562 
*  Seachange International Inc.  235,014  1,544 
*  Symyx Technologies Inc.  275,710  1,516 
*  Airvana Inc.  199,339  1,515 
*  VASCO Data Security International Inc.  240,043  1,505 
*  PROS Holdings Inc.  144,085  1,491 
*  NCI Inc. Class A  52,976  1,465 
*  Internet Brands Inc. Class A  184,361  1,444 
*  China Information Security Technology Inc.  234,221  1,443 
*  IXYS Corp.  185,005  1,373 
*  Powerwave Technologies Inc.  1,057,893  1,333 
*  Ixia  179,133  1,333 
*  Rogers Corp.  43,959  1,332 
*  Liquidity Services Inc.  132,284  1,332 
*  Double-Take Software Inc.  132,566  1,324 
*  DivX Inc.  222,659  1,256 
*  Isilon Systems Inc.  180,574  1,239 
*  Limelight Networks Inc.  305,422  1,200 
*  Internap Network Services Corp.  251,741  1,183 
*  Bottomline Technologies Inc.  66,965  1,177 
*  FalconStor Software Inc.  286,864  1,165 
*  BigBand Networks Inc.  319,201  1,098 
*  Perficient Inc.  125,900  1,061 
*  Conexant Systems Inc.  457,435  1,061 
*  Kulicke & Soffa Industries Inc.  191,622  1,033 
*  Rudolph Technologies Inc.  153,549  1,032 
  Micrel Inc.  122,548  1,005 
*  Deltek Inc.  128,928  1,003 
*  Dice Holdings Inc.  150,649  987 
*  ICx Technologies Inc.  97,126  925 
*  EMS Technologies Inc.  61,349  890 
*  Actel Corp.  73,516  873 
*  Lattice Semiconductor Corp.  322,232  870 
  Opnet Technologies Inc.  70,504  859 
*  Silicon Graphics International Corp.  121,338  851 
*  Infospace Inc.  98,635  845 
*,^  Magma Design Automation Inc.  365,672  845 
*  Advanced Analogic Technologies Inc.  211,693  834 

44


Vanguard® Small-Cap Growth Index Fund
Schedule of Investments
December 31, 2009

      Market 
      Value 
    Shares  ($000) 
*  Electro Scientific Industries Inc.  76,871  832 
*  Silicon Storage Technology Inc.  324,693  831 
*  Monotype Imaging Holdings Inc.  90,505  817 
*  infoGROUP Inc.  96,209  772 
*  Imation Corp.  85,003  741 
*  Exar Corp.  103,342  735 
*  Mattson Technology Inc.  198,889  712 
*  Trident Microsystems Inc.  325,586  606 
  Bel Fuse Inc. Class B  25,806  555 
  Technitrol Inc.  114,849  503 
  Renaissance Learning Inc.  34,806  395 
*  Opnext Inc.  176,797  336 
  Bel Fuse Inc. Class A  2,740  53 
      1,330,713 
Materials (2.8%)     
*  WR Grace & Co.  579,879  14,700 
*  Solutia Inc.  956,108  12,143 
  NewMarket Corp.  97,741  11,218 
*  Intrepid Potash Inc.  361,631  10,549 
  Royal Gold Inc.  202,240  9,525 
  Schnitzer Steel Industries Inc.  176,522  8,420 
*  Allied Nevada Gold Corp.  495,244  7,468 
  Silgan Holdings Inc.  107,452  6,219 
*  RTI International Metals Inc.  233,970  5,889 
*  Hecla Mining Co.  950,124  5,872 
*  Calgon Carbon Corp.  417,798  5,807 
  Balchem Corp.  149,080  4,996 
  Cabot Corp.  183,828  4,822 
*  Horsehead Holding Corp.  339,561  4,329 
  Stepan Co.  62,275  4,036 
  Haynes International Inc.  97,258  3,207 
*  Brush Engineered Materials Inc.  162,300  3,009 
  Zep Inc.  173,244  3,001 
*  Headwaters Inc.  406,948  2,653 
  Deltic Timber Corp.  55,079  2,544 
*  Stillwater Mining Co.  246,809  2,340 
*,^  Zoltek Cos. Inc.  234,880  2,231 
*  LSB Industries Inc.  128,982  1,819 
*  Bway Holding Co.  88,332  1,698 
*  Landec Corp.  200,739  1,253 
*  Graphic Packaging Holding Co.  344,822  1,196 
*  General Moly Inc.  494,421  1,028 
*  United States Lime & Minerals Inc.  22,915  791 
  Hawkins Inc.  24,386  532 
      143,295 
Telecommunication Services (1.3%)     
*  tw telecom inc Class A  1,198,685  20,545 
*  NeuStar Inc. Class A  597,183  13,759 
*  PAETEC Holding Corp.  1,048,026  4,349 
*  Neutral Tandem Inc.  188,259  4,283 
  Shenandoah Telecommunications Co.  180,440  3,672 
*  Global Crossing Ltd.  241,611  3,443 
*  Cogent Communications Group Inc.  339,741  3,350 
*  Cbeyond Inc.  185,709  2,925 
  Alaska Communications Systems Group Inc.  356,028  2,841 
*  Premiere Global Services Inc.  301,320  2,486 
  USA Mobility Inc.  181,712  2,001 
*  General Communication Inc. Class A  259,881  1,658 
*  ICO Global Communications Holdings Ltd.  991,646  1,071 
*,^  Vonage Holdings Corp.  564,083  790 
*  TerreStar Corp.  360,847  339 
*  FiberTower Corp.  55,146  231 
      67,743 

45


Vanguard® Small-Cap Growth Index Fund         
Schedule of Investments         
December 31, 2009         
 
        Market 
        Value 
      Shares  ($000) 
Utilities (0.5%)         
ITC Holdings Corp.      401,298  20,904 
Ormat Technologies Inc.      164,158  6,212 
Consolidated Water Co. Ltd.      110,607  1,580 
        28,696 
Total Common Stocks (Cost $4,667,482)        5,128,572 
 
  Coupon       
Temporary Cash Investments (2.6%)1         
Money Market Fund (2.6%)         
2,3 Vanguard Market Liquidity Fund  0.187%    134,424,678  134,425 
 
      Face   
    Maturity  Amount   
    Date  ($000 )   
U.S. Government and Agency Obligations (0.0%)         
4,5 Freddie Mac Discount Notes  0.230%  6/21/10  1,000  999 
Total Temporary Cash Investments (Cost $135,424)        135,424 
Total Investments (102.4%) (Cost $4,802,906)        5,263,996 
Other Assets and Liabilities—Net (-2.4%)3        (124,271) 
Net Assets (100%)        5,139,725 

* Non-income-producing security.
^ Part of security position is on loan to broker-dealers. The total value of securities on loan is $106,087,000.
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 99.9% and 2.5%, 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 $122,632,000 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 $999,000 have been segregated as initial margin for open futures contracts.

46


Vanguard® Small-Cap Value Index Fund
Schedule of Investments
December 31, 2009

      Market 
      Value 
    Shares  ($000) 
 
Common Stocks (99.8%)1     
Consumer Discretionary (12.2%)     
  Tupperware Brands Corp.  504,423  23,491 
  Jarden Corp.  709,158  21,920 
  RadioShack Corp.  1,002,745  19,554 
  Service Corp. International/US  2,016,200  16,513 
  Williams-Sonoma Inc.  721,360  14,990 
*  DreamWorks Animation SKG Inc. Class A  352,851  14,096 
*  Collective Brands Inc.  513,421  11,691 
*  Dana Holding Corp.  1,075,000  11,653 
  Jones Apparel Group Inc.  685,688  11,012 
  Wolverine World Wide Inc.  394,783  10,746 
  Regal Entertainment Group Class A  680,616  9,828 
*  Rent-A-Center Inc.  528,967  9,373 
  MDC Holdings Inc.  300,957  9,342 
  Hillenbrand Inc.  495,241  9,330 
*  Jack in the Box Inc.  458,404  9,017 
  Cooper Tire & Rubber Co.  448,691  8,996 
  Meredith Corp.  286,747  8,846 
  KB Home  635,340  8,691 
  Men's Wearhouse Inc.  396,508  8,350 
  Dillard's Inc. Class A  447,410  8,255 
*  Jo-Ann Stores Inc.  211,879  7,678 
  Interactive Data Corp.  301,650  7,632 
  Scholastic Corp.  250,204  7,464 
*  Gaylord Entertainment Co.  368,316  7,274 
*  Iconix Brand Group Inc.  571,867  7,234 
  Bob Evans Farms Inc./DE  248,235  7,186 
  Regis Corp.  457,405  7,122 
*  Dress Barn Inc.  299,417  6,917 
  Cracker Barrel Old Country Store Inc.  181,066  6,879 
  International Speedway Corp. Class A  224,332  6,382 
  American Greetings Corp. Class A  287,700  6,269 
*  Orient-Express Hotels Ltd. Class A  615,482  6,241 
^  Barnes & Noble Inc.  319,858  6,100 
*  Timberland Co. Class A  339,941  6,095 
*  Liberty Media Corp. - Capital  252,164  6,022 
*  Carter's Inc.  227,428  5,970 
*  Helen of Troy Ltd.  228,771  5,596 
*  Career Education Corp.  238,741  5,565 
  Unifirst Corp./MA  115,372  5,551 
*  Group 1 Automotive Inc.  193,547  5,487 
  Finish Line Inc. Class A  411,883  5,169 
*  Skechers U.S.A. Inc. Class A  175,214  5,153 
*  Office Depot Inc.  770,251  4,968 
*  Genesco Inc.  178,360  4,898 
*  New York Times Co. Class A  382,619  4,729 
*  Saks Inc.  718,283  4,712 
*,^  Cabela's Inc.  322,299  4,596 
  Cato Corp. Class A  222,631  4,466 
*  HSN Inc.  220,001  4,442 
  Columbia Sportswear Co.  108,679  4,243 
  Choice Hotels International Inc.  132,280  4,188 
*  ArvinMeritor Inc.  365,770  4,089 
*  La-Z-Boy Inc.  412,330  3,930 
  Belo Corp. Class A  720,225  3,918 
*  Charming Shoppes Inc.  600,897  3,888 
  Cinemark Holdings Inc.  262,676  3,775 
*  Boyd Gaming Corp.  450,065  3,767 
  Stage Stores Inc.  304,539  3,764 
  Harte-Hanks Inc.  332,275  3,582 
*  Lions Gate Entertainment Corp.  610,098  3,545 
  PEP Boys-Manny Moe & Jack  418,938  3,544 

47


Vanguard® Small-Cap Value Index Fund
Schedule of Investments
December 31, 2009

    Market 
    Value 
  Shares  ($000) 
* Ruby Tuesday Inc.  490,006  3,528 
Ryland Group Inc.  175,400  3,455 
Brown Shoe Co. Inc.  343,550  3,391 
Stewart Enterprises Inc. Class A  645,017  3,322 
^ Buckle Inc.  111,639  3,269 
* 99 Cents Only Stores  249,524  3,261 
Sonic Automotive Inc. Class A  310,311  3,224 
* Steak N Shake Co.  9,908  3,211 
* Eastman Kodak Co.  755,800  3,189 
Ameristar Casinos Inc.  208,155  3,170 
CKE Restaurants Inc.  373,529  3,160 
Brunswick Corp.  247,404  3,145 
Fred's Inc. Class A  304,551  3,106 
* Standard Pacific Corp.  811,498  3,035 
* Meritage Homes Corp.  156,573  3,027 
* Asbury Automotive Group Inc.  258,996  2,986 
* Domino's Pizza Inc.  346,314  2,902 
Churchill Downs Inc.  76,788  2,868 
* Winnebago Industries  233,084  2,844 
Big 5 Sporting Goods Corp.  163,712  2,813 
* Pinnacle Entertainment Inc.  312,647  2,808 
Ethan Allen Interiors Inc.  208,456  2,797 
World Wrestling Entertainment Inc. Class A  181,506  2,782 
Superior Industries International Inc.  181,501  2,777 
* Ascent Media Corp. Class A  107,489  2,744 
* Jakks Pacific Inc.  223,691  2,711 
* Vail Resorts Inc.  71,721  2,711 
* Federal Mogul Corp.  155,316  2,687 
* Core-Mark Holding Co. Inc.  75,343  2,483 
* Valassis Communications Inc.  135,263  2,470 
* RC2 Corp.  167,189  2,466 
Oxford Industries Inc.  109,249  2,259 
* Bridgepoint Education Inc.  149,452  2,245 
* Red Robin Gourmet Burgers Inc.  125,190  2,241 
* Stein Mart Inc.  206,044  2,196 
Christopher & Banks Corp.  287,864  2,194 
Marcus Corp.  168,093  2,155 
* Liz Claiborne Inc.  382,314  2,152 
* Modine Manufacturing Co.  180,167  2,133 
* America's Car-Mart Inc.  80,112  2,109 
* Warner Music Group Corp.  371,781  2,104 
Speedway Motorsports Inc.  119,357  2,103 
* Quiksilver Inc.  1,030,427  2,081 
Callaway Golf Co.  259,219  1,955 
Haverty Furniture Cos. Inc.  140,707  1,932 
* Landry's Restaurants Inc.  90,413  1,925 
* Pier 1 Imports Inc.  363,465  1,850 
* Furniture Brands International Inc.  313,072  1,709 
* Live Nation Inc.  200,212  1,704 
Blyth Inc.  50,008  1,686 
* EW Scripps Co. Class A  237,032  1,650 
* Dorman Products Inc.  99,120  1,552 
Sinclair Broadcast Group Inc. Class A  381,399  1,537 
* DSW Inc. Class A  59,013  1,527 
National Presto Industries Inc.  13,524  1,477 
* Beazer Homes USA Inc.  299,515  1,450 
* Unifi Inc.  372,648  1,446 
Weyco Group Inc.  58,961  1,394 
Movado Group Inc.  143,105  1,391 
Bebe Stores Inc.  207,892  1,303 
Journal Communications Inc. Class A  327,692  1,275 
CSS Industries Inc.  61,561  1,197 
* Sealy Corp.  369,245  1,167 
K-Swiss Inc. Class A  107,670  1,070 

48


Vanguard® Small-Cap Value Index Fund
Schedule of Investments
December 31, 2009

      Market 
      Value 
    Shares  ($000) 
*  Pacific Sunwear Of California  264,711  1,054 
  Jackson Hewitt Tax Service Inc.  230,916  1,016 
  Sturm Ruger & Co. Inc.  99,928  969 
  Spartan Motors Inc.  163,454  920 
*  Talbots Inc.  99,958  891 
*  Kenneth Cole Productions Inc. Class A  77,376  747 
*  M/I Homes Inc.  70,420  732 
*  Leapfrog Enterprises Inc.  182,549  714 
*,^  Brookfield Homes Corp.  85,375  683 
*  Build-A-Bear Workshop Inc.  132,431  648 
*  Borders Group Inc.  482,504  569 
*,^  Conn's Inc.  82,549  482 
*  Zale Corp.  167,124  455 
  Dover Downs Gaming & Entertainment Inc.  117,708  445 
*  Outdoor Channel Holdings Inc.  56,370  327 
*  Monarch Casino & Resort Inc.  27,791  225 
*  Blockbuster Inc. Class B  270,747  160 
  Marine Products Corp.  31,112  153 
      627,425 
Consumer Staples (3.9%)     
  Del Monte Foods Co.  1,584,416  17,967 
*  Central European Distribution Corp.  521,012  14,802 
  Casey's General Stores Inc.  407,502  13,007 
  Nu Skin Enterprises Inc. Class A  403,934  10,854 
  Universal Corp./VA  198,773  9,066 
  Corn Products International Inc.  298,940  8,738 
  Ruddick Corp.  330,390  8,501 
*  Fresh Del Monte Produce Inc.  356,311  7,874 
  Lancaster Colony Corp.  157,528  7,829 
*  TreeHouse Foods Inc.  165,694  6,439 
*  Chiquita Brands International Inc.  356,834  6,437 
  Sanderson Farms Inc.  138,351  5,833 
  Lance Inc.  204,900  5,389 
*  Hain Celestial Group Inc.  309,585  5,266 
  Vector Group Ltd.  363,645  5,091 
*  BJ's Wholesale Club Inc.  155,527  5,087 
  J&J Snack Foods Corp.  118,185  4,723 
*  Winn-Dixie Stores Inc.  438,871  4,406 
*  Heckmann Corp.  825,991  4,122 
  WD-40 Co.  125,466  4,060 
  Nash Finch Co.  102,817  3,814 
  Andersons Inc.  145,995  3,770 
*  Central Garden and Pet Co. Class A  366,186  3,640 
  Weis Markets Inc.  97,285  3,537 
  B&G Foods Inc. Class A  367,341  3,372 
*  Elizabeth Arden Inc.  196,492  2,837 
  Spartan Stores Inc.  180,526  2,580 
*  Pantry Inc.  180,075  2,447 
  Pricesmart Inc.  118,666  2,426 
*  Prestige Brands Holdings Inc.  300,347  2,361 
  Cal-Maine Foods Inc.  51,485  1,755 
  Tootsie Roll Industries Inc.  60,860  1,666 
*  Central Garden and Pet Co.  149,707  1,602 
*,^  American Oriental Bioengineering Inc.  327,000  1,521 
  Inter Parfums Inc.  120,664  1,468 
  Ingles Markets Inc. Class A  93,334  1,412 
*,^  AgFeed Industries Inc.  236,671  1,183 
*  Great Atlantic & Pacific Tea Co.  97,865  1,154 
  Farmer Bros Co.  57,969  1,144 
  Village Super Market Inc. Class A  41,784  1,142 
  Alico Inc.  29,492  839 
  Coca-Cola Bottling Co. Consolidated  13,329  720 
*  National Beverage Corp.  46,875  650 
*  China-Biotics Inc.  27,433  424 

49


Vanguard® Small-Cap Value Index Fund
Schedule of Investments
December 31, 2009

      Market 
      Value 
    Shares  ($000) 
*  Susser Holdings Corp.  44,589  383 
      203,338 
Energy (4.2%)     
  Southern Union Co.  896,620  20,353 
*  Whiting Petroleum Corp.  264,714  18,914 
*  Oil States International Inc.  258,517  10,157 
*  Unit Corp.  234,959  9,986 
*  Mariner Energy Inc.  817,865  9,495 
  Overseas Shipholding Group Inc.  204,375  8,982 
*  Bristow Group Inc.  223,434  8,591 
  Berry Petroleum Co. Class A  291,549  8,499 
  Penn Virginia Corp.  363,577  7,741 
*  SEACOR Holdings Inc.  100,137  7,636 
*  Swift Energy Co.  293,034  7,021 
  World Fuel Services Corp.  225,442  6,040 
*  Enbridge Energy Management LLC  111,981  5,948 
*  Stone Energy Corp.  327,415  5,910 
*  Global Industries Ltd.  820,941  5,853 
  Lufkin Industries Inc.  77,299  5,658 
*  ION Geophysical Corp.  900,624  5,332 
*  Gulfmark Offshore Inc.  165,535  4,686 
  Energy XXI Bermuda Ltd.  2,004,120  4,630 
*  Parker Drilling Co.  929,461  4,601 
*  James River Coal Co.  220,692  4,089 
*  USEC Inc.  903,698  3,479 
*  Helix Energy Solutions Group Inc.  275,422  3,236 
*  Newpark Resources Inc.  711,855  3,011 
*  Hornbeck Offshore Services Inc.  122,250  2,846 
*  Petroquest Energy Inc.  449,268  2,754 
  General Maritime Corp.  393,944  2,754 
*  International Coal Group Inc.  683,193  2,637 
*  Oilsands Quest Inc.  2,206,332  2,537 
  Gulf Island Fabrication Inc.  103,149  2,169 
  W&T Offshore Inc.  179,426  2,099 
*  PHI Inc.  99,938  2,069 
*  Western Refining Inc.  426,279  2,008 
*  Cal Dive International Inc.  261,866  1,980 
*  CVR Energy Inc.  277,130  1,901 
*  Allis-Chalmers Energy Inc.  487,385  1,837 
*  Gastar Exploration Ltd.  339,277  1,625 
*  Harvest Natural Resources Inc.  266,471  1,410 
  Vaalco Energy Inc.  303,446  1,381 
*  Petroleum Development Corp.  75,007  1,366 
*  T-3 Energy Services Inc.  52,146  1,330 
  Delek US Holdings Inc.  107,810  734 
  Crosstex Energy Inc.  111,219  673 
*,^  Delta Petroleum Corp.  506,047  526 
*,^  Sulphco Inc.  276,953  186 
      216,670 
Financials (32.8%)     
  Alexandria Real Estate Equities Inc.  347,873  22,365 
  Senior Housing Properties Trust  1,018,452  22,274 
  Assured Guaranty Ltd.  1,012,316  22,028 
  Camden Property Trust  513,699  21,765 
  Mack-Cali Realty Corp.  628,053  21,712 
  Waddell & Reed Financial Inc.  687,961  21,010 
  First Niagara Financial Group Inc.  1,467,745  20,416 
  Chimera Investment Corp.  5,109,881  19,826 
  Highwoods Properties Inc.  569,220  18,983 
  Essex Property Trust Inc.  225,885  18,895 
  Arthur J Gallagher & Co.  811,745  18,272 
  Hanover Insurance Group Inc.  407,435  18,102 
  Bank of Hawaii Corp.  383,840  18,064 
  Corporate Office Properties Trust SBI MD  465,346  17,046 

50


Vanguard® Small-Cap Value Index Fund
Schedule of Investments
December 31, 2009

    Market 
    Value 
  Shares  ($000) 
Aspen Insurance Holdings Ltd.  667,134  16,979 
Washington Federal Inc.  873,939  16,902 
MFA Financial Inc.  2,189,043  16,089 
StanCorp Financial Group Inc.  393,778  15,759 
* E*Trade Financial Corp.  8,947,189  15,658 
Allied World Assurance Co. Holdings Ltd.  337,478  15,548 
Valley National Bancorp  1,088,324  15,378 
Platinum Underwriters Holdings Ltd.  398,747  15,268 
Endurance Specialty Holdings Ltd.  389,662  14,507 
BancorpSouth Inc.  601,373  14,108 
BRE Properties Inc.  423,720  14,017 
National Retail Properties Inc.  647,089  13,731 
Prosperity Bancshares Inc.  332,571  13,459 
Apollo Investment Corp.  1,407,590  13,414 
* ProAssurance Corp.  248,800  13,363 
FirstMerit Corp.  661,258  13,318 
Omega Healthcare Investors Inc.  669,580  13,023 
Westamerica Bancorporation  234,469  12,983 
* Alleghany Corp.  46,937  12,955 
Washington Real Estate Investment Trust  467,177  12,871 
Home Properties Inc.  265,012  12,644 
Tanger Factory Outlet Centers  319,112  12,442 
BioMed Realty Trust Inc.  786,277  12,407 
Fulton Financial Corp.  1,414,115  12,331 
Entertainment Properties Trust  336,995  11,886 
American Campus Communities Inc.  418,515  11,760 
Brandywine Realty Trust  1,030,571  11,749 
HRPT Properties Trust  1,795,693  11,618 
Popular Inc.  5,130,101  11,594 
Montpelier Re Holdings Ltd.  659,009  11,414 
Protective Life Corp.  685,546  11,346 
Douglas Emmett Inc.  779,863  11,113 
Mid-America Apartment Communities Inc.  226,089  10,916 
LaSalle Hotel Properties  509,091  10,808 
Ares Capital Corp.  866,385  10,787 
Trustmark Corp.  477,628  10,766 
Kilroy Realty Corp.  345,611  10,600 
Healthcare Realty Trust Inc.  475,808  10,211 
Developers Diversified Realty Corp.  1,100,073  10,187 
Potlatch Corp.  318,796  10,163 
Hancock Holding Co.  232,065  10,162 
CBL & Associates Properties Inc.  1,049,384  10,148 
Apartment Investment & Management Co.  609,594  9,705 
Erie Indemnity Co. Class A  246,628  9,623 
UMB Financial Corp.  243,951  9,599 
* Conseco Inc.  1,875,121  9,376 
NewAlliance Bancshares Inc.  769,846  9,246 
Northwest Bancshares Inc.  797,276  9,025 
Umpqua Holdings Corp.  667,410  8,950 
Zenith National Insurance Corp.  299,550  8,915 
Unitrin Inc.  400,053  8,821 
Max Capital Group Ltd.  386,554  8,620 
Redwood Trust Inc.  591,213  8,549 
Delphi Financial Group Inc.  382,054  8,547 
Iberiabank Corp.  156,533  8,423 
Old National Bancorp/IN  676,678  8,411 
Franklin Street Properties Corp.  565,778  8,266 
CapitalSource Inc.  2,074,715  8,237 
DCT Industrial Trust Inc.  1,636,843  8,217 
Astoria Financial Corp.  660,765  8,213 
Hatteras Financial Corp.  289,965  8,107 
* Piper Jaffray Cos.  157,750  7,984 
EastGroup Properties Inc.  207,915  7,959 
RLI Corp.  147,302  7,844 

51


Vanguard® Small-Cap Value Index Fund
Schedule of Investments
December 31, 2009

    Market 
    Value 
  Shares  ($000) 
International Bancshares Corp.  409,757  7,757 
Sovran Self Storage Inc.  216,030  7,719 
American National Insurance Co.  64,436  7,696 
Extra Space Storage Inc.  657,952  7,599 
Post Properties Inc.  384,570  7,538 
DiamondRock Hospitality Co.  868,339  7,355 
MB Financial Inc.  369,188  7,280 
* Argo Group International Holdings Ltd.  247,301  7,206 
* AmeriCredit Corp.  373,998  7,121 
Synovus Financial Corp.  3,472,455  7,119 
Capstead Mortgage Corp.  521,244  7,115 
* PHH Corp.  436,763  7,036 
Selective Insurance Group  424,603  6,985 
National Health Investors Inc.  187,861  6,949 
Wilmington Trust Corp.  555,400  6,854 
Whitney Holding Corp.  745,195  6,789 
Glacier Bancorp Inc.  494,224  6,781 
^ United Bankshares Inc.  330,305  6,596 
Medical Properties Trust Inc.  643,963  6,440 
FNB Corp./PA  912,946  6,199 
Webster Financial Corp.  519,446  6,166 
^ Prospect Capital Corp.  512,311  6,050 
Anworth Mortgage Asset Corp.  862,130  6,035 
Wintrust Financial Corp.  192,715  5,934 
CVB Financial Corp.  679,205  5,868 
Colonial Properties Trust  493,710  5,791 
* MF Global Ltd.  828,128  5,755 
* Forest City Enterprises Inc. Class A  482,004  5,678 
NBT Bancorp Inc.  274,639  5,594 
Equity One Inc.  345,956  5,594 
Employers Holdings Inc.  362,965  5,568 
American Capital Ltd.  2,272,308  5,544 
* Ocwen Financial Corp.  573,749  5,491 
* Navigators Group Inc.  115,351  5,434 
Financial Federal Corp.  196,922  5,415 
First Financial Bancorp  371,736  5,412 
National Penn Bancshares Inc.  931,923  5,396 
Park National Corp.  90,685  5,340 
Investors Real Estate Trust  577,243  5,195 
* Allied Capital Corp.  1,433,970  5,177 
Cousins Properties Inc.  677,851  5,172 
Tower Group Inc.  220,035  5,151 
Acadia Realty Trust  302,171  5,098 
Community Bank System Inc.  262,413  5,067 
PS Business Parks Inc.  99,506  4,980 
Inland Real Estate Corp.  610,843  4,978 
PacWest Bancorp  243,756  4,912 
* Enstar Group Ltd.  65,103  4,754 
First Financial Bankshares Inc.  86,681  4,701 
U-Store-It Trust  641,016  4,692 
Brookline Bancorp Inc.  472,876  4,686 
American Capital Agency Corp.  175,302  4,653 
East West Bancorp Inc.  293,864  4,643 
Provident Financial Services Inc.  431,375  4,594 
Lexington Realty Trust  751,101  4,567 
LTC Properties Inc.  167,188  4,472 
Infinity Property & Casualty Corp.  109,226  4,439 
First Midwest Bancorp Inc.  395,198  4,304 
* World Acceptance Corp.  116,985  4,192 
City Holding Co.  127,772  4,131 
Susquehanna Bancshares Inc.  691,442  4,073 
Chemical Financial Corp.  172,411  4,065 
Nelnet Inc. Class A  230,563  3,973 
Horace Mann Educators Corp.  314,053  3,926 

52


Vanguard® Small-Cap Value Index Fund
Schedule of Investments
December 31, 2009

    Market 
    Value 
  Shares  ($000) 
BlackRock Kelso Capital Corp.  455,334  3,879 
Trustco Bank Corp. NY  613,015  3,862 
Safety Insurance Group Inc.  104,406  3,783 
* MGIC Investment Corp.  651,338  3,765 
Parkway Properties Inc./Md  173,158  3,605 
Harleysville Group Inc.  110,584  3,515 
Getty Realty Corp.  149,011  3,506 
Cathay General Bancorp  463,478  3,499 
Columbia Banking System Inc.  214,825  3,476 
* MBIA Inc.  866,362  3,448 
Sterling Bancshares Inc.  655,732  3,364 
Flagstone Reinsurance Holdings Ltd.  306,459  3,353 
National Western Life Insurance Co. Class A  19,223  3,338 
United Fire & Casualty Co.  181,010  3,300 
American Equity Investment Life Holding Co.  442,521  3,292 
Meadowbrook Insurance Group Inc.  438,125  3,242 
S&T Bancorp Inc.  188,800  3,211 
Bank of the Ozarks Inc.  108,098  3,164 
Simmons First National Corp. Class A  113,607  3,158 
Independent Bank Corp./Rockland MA  151,094  3,156 
Radian Group Inc.  430,086  3,144 
Fifth Street Finance Corp.  282,296  3,032 
Boston Private Financial Holdings Inc.  522,328  3,014 
* Forestar Group Inc.  136,967  3,011 
Compass Diversified Holdings  234,944  2,998 
Hercules Technology Growth Capital Inc.  283,971  2,950 
Universal Health Realty Income Trust  90,836  2,909 
First Potomac Realty Trust  229,808  2,889 
First Commonwealth Financial Corp.  617,012  2,869 
Walter Investment Management Corp.  199,297  2,856 
SCBT Financial Corp.  102,102  2,827 
Sun Communities Inc.  141,549  2,796 
^ Pennsylvania Real Estate Investment Trust  329,267  2,786 
SWS Group Inc.  228,536  2,765 
* Hilltop Holdings Inc.  235,740  2,744 
* National Financial Partners Corp.  338,101  2,735 
* AMERISAFE Inc.  151,117  2,716 
Oppenheimer Holdings Inc. Class A  77,863  2,587 
OneBeacon Insurance Group Ltd. Class A  187,480  2,583 
Phoenix Cos. Inc.  925,503  2,573 
Amtrust Financial Services Inc.  213,898  2,528 
Community Trust Bancorp Inc.  103,060  2,520 
American Physicians Capital Inc.  81,034  2,457 
Cedar Shopping Centers Inc.  360,877  2,454 
Bank Mutual Corp.  354,382  2,452 
Flushing Financial Corp.  217,004  2,443 
* Altisource Portfolio Solutions SA  116,150  2,438 
Provident New York Bancorp  285,607  2,411 
* KBW Inc.  87,842  2,403 
First Financial Corp./IN  78,745  2,403 
State Auto Financial Corp.  127,427  2,357 
Berkshire Hills Bancorp Inc.  111,513  2,306 
Saul Centers Inc.  69,875  2,289 
Dime Community Bancshares  192,729  2,259 
Ramco-Gershenson Properties Trust  233,910  2,232 
WesBanco Inc.  180,807  2,231 
Tompkins Financial Corp.  54,507  2,208 
* FPIC Insurance Group Inc.  56,542  2,184 
Renasant Corp.  160,291  2,180 
Northfield Bancorp Inc.  161,235  2,180 
Government Properties Income Trust  94,467  2,171 
FBL Financial Group Inc. Class A  117,163  2,170 
* Ashford Hospitality Trust Inc.  463,977  2,153 
DuPont Fabros Technology Inc.  117,657  2,117 

53


Vanguard® Small-Cap Value Index Fund
Schedule of Investments
December 31, 2009

      Market 
      Value 
    Shares  ($000) 
*  CNA Surety Corp.  141,786  2,111 
*  United America Indemnity Ltd. Class A  264,684  2,096 
  MVC Capital Inc.  176,558  2,083 
  Arrow Financial Corp.  83,140  2,079 
  Lakeland Financial Corp.  120,462  2,078 
  Education Realty Trust Inc.  426,511  2,064 
*,^  iStar Financial Inc.  802,903  2,055 
  Kite Realty Group Trust  504,910  2,055 
  Univest Corp. of Pennsylvania  115,505  2,025 
*  SeaBright Insurance Holdings Inc.  175,194  2,013 
  Maiden Holdings Ltd.  274,374  2,008 
  Southside Bancshares Inc.  101,606  1,994 
  Oriental Financial Group Inc.  184,359  1,991 
  SY Bancorp Inc.  92,795  1,981 
  Camden National Corp.  58,743  1,921 
^  TowneBank  163,631  1,911 
  Cypress Sharpridge Investments Inc.  139,132  1,880 
  1st Source Corp.  116,564  1,876 
*  FelCor Lodging Trust Inc.  518,050  1,865 
*  FBR Capital Markets Corp.  300,916  1,860 
  Westfield Financial Inc.  222,730  1,838 
  StellarOne Corp.  182,401  1,817 
  Bancfirst Corp.  48,981  1,814 
  Washington Trust Bancorp Inc.  115,755  1,803 
*  Pinnacle Financial Partners Inc.  125,907  1,790 
  Trico Bancshares  107,450  1,789 
  CapLease Inc.  398,691  1,746 
  Union Bankshares Corp.  139,896  1,733 
  GFI Group Inc.  369,649  1,689 
  Kearny Financial Corp.  167,558  1,689 
  First Bancorp/Troy NC  120,477  1,683 
  Republic Bancorp Inc./KY Class A  81,225  1,673 
  First Financial Holdings Inc.  127,663  1,658 
  Advance America Cash Advance Centers Inc.  297,169  1,652 
  Capital Southwest Corp.  20,906  1,647 
  Presidential Life Corp.  178,167  1,630 
  First Mercury Financial Corp.  116,995  1,604 
  Stewart Information Services Corp.  138,107  1,558 
  Baldwin & Lyons Inc.  63,202  1,555 
  First Community Bancshares Inc./VA  128,495  1,548 
  United Financial Bancorp Inc.  116,989  1,534 
  BankFinancial Corp.  154,834  1,533 
  First Industrial Realty Trust Inc.  290,522  1,519 
  PMI Group Inc.  596,960  1,504 
  Student Loan Corp.  32,070  1,494 
  Great Southern Bancorp Inc.  69,867  1,492 
  Donegal Group Inc. Class A  95,863  1,490 
  Urstadt Biddle Properties Inc. Class A  97,168  1,484 
  First BanCorp  630,879  1,451 
  First Busey Corp.  370,487  1,441 
  NGP Capital Resources Co.  173,734  1,412 
  Glimcher Realty Trust  518,206  1,399 
*  TradeStation Group Inc.  174,661  1,378 
  Heartland Financial USA Inc.  91,709  1,316 
  WSFS Financial Corp.  49,715  1,274 
  ESSA Bancorp Inc.  108,396  1,268 
  Wilshire Bancorp Inc.  153,142  1,254 
  Hersha Hospitality Trust  395,614  1,242 
  Evercore Partners Inc. Class A  39,528  1,202 
  Sandy Spring Bancorp Inc.  131,961  1,173 
  Winthrop Realty Trust  108,011  1,173 
  CoBiz Financial Inc.  245,994  1,168 
  NorthStar Realty Finance Corp.  339,370  1,164 
*  Western Alliance Bancorp  302,768  1,144 

54


Vanguard® Small-Cap Value Index Fund
Schedule of Investments
December 31, 2009

    Market 
    Value 
  Shares  ($000) 
* United Community Banks Inc.  336,532  1,141 
Capital City Bank Group Inc.  81,815  1,132 
Kansas City Life Insurance Co.  36,957  1,099 
Lakeland Bancorp Inc.  171,835  1,098 
Abington Bancorp Inc.  156,409  1,078 
EMC Insurance Group Inc.  47,755  1,027 
* Penson Worldwide Inc.  111,958  1,014 
GAMCO Investors Inc.  20,991  1,014 
Consolidated-Tomoka Land Co.  28,337  990 
Sterling Bancorp  137,826  984 
First Merchants Corp.  161,175  957 
Ames National Corp.  45,348  957 
National Interstate Corp.  54,336  922 
First Financial Northwest Inc.  138,553  908 
Citizens & Northern Corp.  94,046  897 
South Financial Group Inc.  1,384,593  893 
Life Partners Holdings Inc.  38,868  824 
Southwest Bancorp Inc.  111,513  774 
MainSource Financial Group Inc.  153,302  733 
* First Marblehead Corp.  336,631  717 
* LaBranche & Co. Inc.  252,125  716 
Clifton Savings Bancorp Inc.  74,932  702 
* Avatar Holdings Inc.  40,898  696 
* RAIT Financial Trust  494,555  648 
Urstadt Biddle Properties Inc.  41,528  623 
NASB Financial Inc.  25,167  586 
* Strategic Hotels & Resorts Inc.  302,185  562 
Universal Insurance Holdings Inc.  90,561  532 
* Cardtronics Inc.  45,018  498 
* Sun Bancorp Inc.  129,359  485 
Roma Financial Corp.  30,715  380 
Rockville Financial Inc.  35,314  371 
* Asset Acceptance Capital Corp.  43,142  293 
CompuCredit Holdings Corp.  47,063  157 
* Grubb & Ellis Co.  110,217  141 
Teton Advisors Inc. Class B  324  1 
    1,686,738 
Health Care (6.4%)     
* Mednax Inc.  371,465  22,329 
* Human Genome Sciences Inc.  723,017  22,124 
PerkinElmer Inc.  936,114  19,275 
Teleflex Inc.  319,132  17,198 
* Health Management Associates Inc. Class A  1,979,905  14,394 
Owens & Minor Inc.  334,629  14,366 
Cooper Cos. Inc.  361,943  13,797 
* LifePoint Hospitals Inc.  416,894  13,553 
STERIS Corp.  470,055  13,147 
* Magellan Health Services Inc.  282,524  11,507 
Hill-Rom Holdings Inc.  476,603  11,434 
* Healthspring Inc.  392,048  6,904 
* Emergency Medical Services Corp. Class A  111,839  6,056 
Invacare Corp.  236,001  5,886 
* RehabCare Group Inc.  190,989  5,812 
* Impax Laboratories Inc.  418,749  5,695 
* AMERIGROUP Corp.  210,201  5,667 
* Amsurg Corp. Class A  245,573  5,407 
* Conmed Corp.  233,161  5,316 
* Centene Corp.  236,119  4,999 
* Kindred Healthcare Inc.  250,067  4,616 
* WellCare Health Plans Inc.  118,664  4,362 
* Universal American Corp.  371,166  4,343 
* Odyssey HealthCare Inc.  263,979  4,113 
Analogic Corp.  103,057  3,969 
Computer Programs & Systems Inc.  79,000  3,638 

55


Vanguard® Small-Cap Value Index Fund
Schedule of Investments
December 31, 2009

      Market 
      Value 
    Shares  ($000) 
*  Brookdale Senior Living Inc.  199,785  3,634 
*  Viropharma Inc.  403,133  3,382 
  PDL BioPharma Inc.  478,647  3,283 
*  Sun Healthcare Group Inc.  350,217  3,211 
*  Targacept Inc.  152,186  3,184 
*  Angiodynamics Inc.  185,872  2,989 
  Landauer Inc.  48,646  2,987 
*  Triple-S Management Corp. Class B  163,083  2,870 
*  inVentiv Health Inc.  174,808  2,827 
*  AMAG Pharmaceuticals Inc.  68,516  2,606 
*  Savient Pharmaceuticals Inc.  184,841  2,516 
*  Molina Healthcare Inc.  102,678  2,348 
*  Greatbatch Inc.  120,609  2,319 
*  Res-Care Inc.  200,625  2,247 
*  Cross Country Healthcare Inc.  222,076  2,201 
*  Gentiva Health Services Inc.  77,746  2,100 
*  Assisted Living Concepts Inc. Class A  77,037  2,031 
*  Medidata Solutions Inc.  127,490  1,989 
  National Healthcare Corp.  54,988  1,986 
*  RTI Biologics Inc.  436,131  1,675 
*,^  Electro-Optical Sciences Inc.  145,197  1,504 
*,^  Geron Corp.  255,124  1,416 
  Ensign Group Inc.  91,158  1,401 
*  Allos Therapeutics Inc.  211,050  1,387 
*  Rigel Pharmaceuticals Inc.  139,607  1,328 
*  Momenta Pharmaceuticals Inc.  98,503  1,242 
*  Skilled Healthcare Group Inc.  162,842  1,213 
*  Immunogen Inc.  152,442  1,198 
*,^  Cel-Sci Corp.  1,227,741  1,105 
*  Medcath Corp.  133,859  1,059 
*  Kendle International Inc.  56,741  1,039 
*,^  Biospecifics Technologies Corp.  34,124  1,001 
*  OraSure Technologies Inc.  184,254  936 
*  Cynosure Inc. Class A  78,305  900 
*  AMN Healthcare Services Inc.  91,538  829 
*  Nighthawk Radiology Holdings Inc.  180,563  818 
*  Clinical Data Inc.  44,417  811 
*  Sunrise Senior Living Inc.  239,615  772 
*,^  Cadence Pharmaceuticals Inc.  70,701  684 
*  KV Pharmaceutical Co. Class A  177,516  651 
*  Arqule Inc.  170,049  627 
*  Orexigen Therapeutics Inc.  79,206  589 
*  Lexicon Pharmaceuticals Inc.  335,221  570 
*  Albany Molecular Research Inc.  62,136  564 
*  Opko Health Inc.  198,197  363 
*,^  Osiris Therapeutics Inc.  46,146  329 
      326,628 
Industrials (15.5%)     
*  Corrections Corp. of America  922,827  22,655 
  Hubbell Inc. Class B  415,837  19,669 
  Snap-On Inc.  462,334  19,538 
  Lincoln Electric Holdings Inc.  340,641  18,211 
  Kennametal Inc.  651,187  16,879 
  Carlisle Cos. Inc.  490,610  16,808 
  Timken Co.  659,212  15,630 
  Regal-Beloit Corp.  286,943  14,904 
  Lennox International Inc.  380,008  14,836 
  Nordson Corp.  242,269  14,822 
  Con-way Inc.  392,707  13,709 
  Brady Corp. Class A  390,631  11,723 
  Crane Co.  374,697  11,473 
  Curtiss-Wright Corp.  364,941  11,430 
  Alexander & Baldwin Inc.  328,731  11,252 
  Trinity Industries Inc.  635,079  11,076 

56


Vanguard® Small-Cap Value Index Fund
Schedule of Investments
December 31, 2009

      Market 
      Value 
    Shares  ($000) 
  Watsco Inc.  222,743  10,910 
*  United Stationers Inc.  190,015  10,802 
  GATX Corp.  368,664  10,599 
*  JetBlue Airways Corp.  1,927,234  10,503 
*  GrafTech International Ltd.  626,627  9,744 
*  Alaska Air Group Inc.  281,469  9,728 
*  Moog Inc. Class A  328,370  9,598 
  Kaydon Corp.  266,156  9,518 
  Granite Construction Inc.  278,786  9,384 
  Graco Inc.  312,006  8,914 
*  WESCO International Inc.  321,430  8,682 
  HNI Corp.  306,328  8,464 
  Brink's Co.  346,790  8,441 
  Belden Inc.  373,334  8,184 
  AO Smith Corp.  187,073  8,117 
*  EnerSys  366,174  8,008 
  Skywest Inc.  445,354  7,535 
  Briggs & Stratton Corp.  400,535  7,494 
  Werner Enterprises Inc.  373,499  7,392 
  Watts Water Technologies Inc. Class A  235,679  7,287 
  ABM Industries Inc.  349,609  7,223 
*  EMCOR Group Inc.  263,852  7,098 
*  Insituform Technologies Inc. Class A  311,374  7,074 
*  Continental Airlines Inc. Class B  387,514  6,944 
  Applied Industrial Technologies Inc.  305,042  6,732 
  Otter Tail Corp.  270,985  6,720 
  Baldor Electric Co.  230,359  6,471 
  Triumph Group Inc.  133,622  6,447 
  Mueller Water Products Inc. Class A  1,227,243  6,382 
*  Atlas Air Worldwide Holdings Inc.  170,837  6,364 
*  BE Aerospace Inc.  269,347  6,330 
*  Esterline Technologies Corp.  154,634  6,304 
*  Armstrong World Industries Inc.  160,867  6,263 
  Barnes Group Inc.  361,634  6,112 
*  MasTec Inc.  485,209  6,065 
  Deluxe Corp.  409,644  6,059 
  Arkansas Best Corp.  192,375  5,662 
  Simpson Manufacturing Co. Inc.  204,336  5,495 
*  Teledyne Technologies Inc.  136,980  5,255 
*  Griffon Corp.  429,075  5,243 
  Universal Forest Products Inc.  139,318  5,128 
  Quanex Building Products Corp.  301,616  5,118 
  EnergySolutions Inc.  601,321  5,105 
*,^  USG Corp.  361,776  5,083 
  Albany International Corp.  220,680  4,956 
*  Interline Brands Inc.  260,012  4,490 
*  Layne Christensen Co.  156,197  4,484 
  Ameron International Corp.  70,203  4,455 
  Franklin Electric Co. Inc.  147,928  4,302 
*  EnPro Industries Inc.  161,621  4,268 
*  Macquarie Infrastructure Co. LLC  342,363  4,204 
  Aircastle Ltd.  412,508  4,063 
  McGrath Rentcorp  180,688  4,040 
  Seaboard Corp.  2,984  4,025 
*  DigitalGlobe Inc.  162,574  3,934 
*  Tutor Perini Corp.  213,702  3,864 
  Comfort Systems USA Inc.  307,104  3,790 
*  Chart Industries Inc.  227,848  3,771 
*  Ceradyne Inc.  195,444  3,754 
  Mueller Industries Inc.  150,061  3,728 
  G&K Services Inc. Class A  148,180  3,724 
  Manitowoc Co. Inc.  366,328  3,652 
  Tennant Co.  134,956  3,535 
*  School Specialty Inc.  150,840  3,528 

57


Vanguard® Small-Cap Value Index Fund
Schedule of Investments
December 31, 2009

      Market 
      Value 
    Shares  ($000) 
  Ennis Inc.  207,260  3,480 
  CIRCOR International Inc.  135,882  3,422 
  Steelcase Inc. Class A  527,626  3,356 
  Gorman-Rupp Co.  120,428  3,329 
*  Genco Shipping & Trading Ltd.  148,503  3,324 
  Tredegar Corp.  204,125  3,229 
  Interface Inc. Class A  384,420  3,195 
  Apogee Enterprises Inc.  223,578  3,130 
  Encore Wire Corp.  147,386  3,105 
  Kaman Corp.  133,638  3,086 
  Gibraltar Industries Inc.  193,456  3,043 
*  Korn/Ferry International  182,817  3,017 
*  Consolidated Graphics Inc.  80,476  2,818 
*  Kelly Services Inc. Class A  226,883  2,707 
*  Resources Connection Inc.  121,439  2,577 
*  Dycom Industries Inc.  312,284  2,508 
*  Colfax Corp.  208,071  2,505 
*,^  Broadwind Energy Inc.  309,516  2,504 
*  AAR Corp.  108,895  2,502 
*  Argon ST Inc.  113,739  2,470 
*  Eagle Bulk Shipping Inc.  497,361  2,462 
  American Ecology Corp.  139,977  2,385 
*  Rush Enterprises Inc. Class A  196,828  2,340 
*  Spherion Corp.  412,060  2,316 
*  SmartHeat Inc.  158,189  2,297 
  Federal Signal Corp.  370,863  2,233 
*  Waste Services Inc.  241,985  2,205 
  Ampco-Pittsburgh Corp.  69,388  2,188 
  Titan International Inc.  268,273  2,176 
  NACCO Industries Inc. Class A  42,755  2,129 
*  ACCO Brands Corp.  284,348  2,070 
*  American Reprographics Co.  291,687  2,045 
*  Republic Airways Holdings Inc.  275,825  2,038 
*  Columbus McKinnon Corp.  145,218  1,984 
  Cascade Corp.  70,195  1,930 
*  Ladish Co. Inc.  127,518  1,923 
  FreightCar America Inc.  95,787  1,899 
*  TrueBlue Inc.  123,299  1,826 
*  Amerco Inc.  35,840  1,782 
*  H&E Equipment Services Inc.  168,209  1,765 
  Sun Hydraulics Corp.  66,143  1,736 
  Kimball International Inc. Class B  202,628  1,726 
  Viad Corp.  82,642  1,705 
*  Blount International Inc.  162,875  1,645 
  TAL International Group Inc.  124,266  1,644 
*  Kforce Inc.  131,202  1,640 
  Schawk Inc. Class A  120,232  1,635 
*  Kadant Inc.  98,509  1,572 
  Ducommun Inc.  79,668  1,491 
*  RBC Bearings Inc.  60,959  1,483 
  American Woodmark Corp.  74,111  1,459 
  CDI Corp.  107,477  1,392 
  Greenbrier Cos. Inc.  130,233  1,352 
*  Tecumseh Products Co. Class A  115,521  1,350 
  Bowne & Co. Inc.  199,943  1,336 
*  Northwest Pipe Co.  48,072  1,291 
  Horizon Lines Inc. Class A  229,929  1,281 
*,^  Evergreen Solar Inc.  796,364  1,203 
  Courier Corp.  81,055  1,155 
*  Volt Information Sciences Inc.  108,535  1,085 
  Aceto Corp.  198,365  1,022 
  Applied Signal Technology Inc.  49,782  960 
  Preformed Line Products Co.  21,061  922 
*  3D Systems Corp.  76,869  869 

58


Vanguard® Small-Cap Value Index Fund
Schedule of Investments
December 31, 2009

      Market 
      Value 
    Shares  ($000) 
  American Railcar Industries Inc.  76,802  846 
*  CRA International Inc.  30,883  823 
*  Sterling Construction Co. Inc.  41,877  803 
*  Rush Enterprises Inc. Class B  74,336  781 
*,^  TBS International Ltd. Class A  105,233  773 
  Sauer-Danfoss Inc.  63,152  758 
*  American Commercial Lines Inc.  38,376  703 
*  Pike Electric Corp.  73,358  681 
*  Titan Machinery Inc.  53,511  618 
  Universal Truckload Services Inc.  33,388  604 
*  Fushi Copperweld Inc.  44,661  452 
  Pacer International Inc.  140,308  443 
*  Odyssey Marine Exploration Inc.  289,632  408 
  Lawson Products Inc.  22,225  392 
*  Plug Power Inc.  337,633  240 
*  Tecumseh Products Co. Class B  20,740  230 
  Standard Register Co.  27,117  138 
      795,110 
Information Technology (9.0%)     
*  3Com Corp.  3,132,981  23,497 
*  Skyworks Solutions Inc.  1,371,197  19,457 
*  Tech Data Corp.  402,380  18,775 
  Diebold Inc.  530,935  15,105 
*  CACI International Inc. Class A  240,753  11,761 
*  Novell Inc.  2,769,254  11,492 
*  Convergys Corp.  985,061  10,589 
*  Benchmark Electronics Inc.  520,135  9,836 
*  RF Micro Devices Inc.  2,032,805  9,697 
*  Compuware Corp.  1,236,851  8,942 
  Fair Isaac Corp.  391,805  8,349 
*  International Rectifier Corp.  371,163  8,210 
*  Acxiom Corp.  600,442  8,058 
*  PMC - Sierra Inc.  900,623  7,799 
*  Emulex Corp.  649,341  7,078 
  Earthlink Inc.  850,388  7,067 
  MAXIMUS Inc.  140,305  7,015 
*  Lawson Software Inc.  1,037,815  6,902 
*  Rambus Inc.  279,369  6,817 
*  Mentor Graphics Corp.  769,534  6,795 
*  Fairchild Semiconductor International Inc. Class A  647,155  6,465 
*  Take-Two Interactive Software Inc.  642,532  6,458 
*  JDA Software Group Inc.  243,236  6,195 
*  EchoStar Corp. Class A  288,640  5,813 
*  Arris Group Inc.  500,938  5,726 
*  Littelfuse Inc.  174,106  5,598 
*  Integrated Device Technology Inc.  862,095  5,578 
*  SolarWinds Inc.  234,515  5,396 
*  Teradyne Inc.  489,578  5,253 
  AVX Corp.  409,968  5,194 
*  SYNNEX Corp.  159,380  4,887 
  United Online Inc.  671,556  4,829 
*  Tekelec  314,606  4,807 
*  ADC Telecommunications Inc.  773,975  4,806 
*  Checkpoint Systems Inc.  312,168  4,761 
*  Progress Software Corp.  160,517  4,689 
*  Sanmina-SCI Corp.  423,828  4,675 
*  Electronics for Imaging Inc.  352,905  4,591 
*  Ariba Inc.  354,257  4,435 
  Park Electrochemical Corp.  156,271  4,319 
*  Insight Enterprises Inc.  367,360  4,195 
*  Vishay Intertechnology Inc.  487,951  4,074 
  Black Box Corp.  140,802  3,990 
*  Brightpoint Inc.  525,498  3,862 
*  Avid Technology Inc.  299,383  3,820 

59


Vanguard® Small-Cap Value Index Fund
Schedule of Investments
December 31, 2009

      Market 
      Value 
    Shares  ($000) 
*  Veeco Instruments Inc.  106,419  3,516 
*  ModusLink Global Solutions Inc.  365,473  3,439 
*  Sycamore Networks Inc.  159,167  3,328 
*  Harris Stratex Networks Inc.  468,503  3,237 
*  Adaptec Inc.  961,084  3,220 
*  Epicor Software Corp.  415,762  3,168 
*  Loral Space & Communications Inc.  97,630  3,086 
*  Zoran Corp.  268,971  2,972 
*  Semtech Corp.  172,056  2,927 
*  THQ Inc.  543,338  2,738 
*  Newport Corp.  290,023  2,665 
  Methode Electronics Inc.  306,461  2,660 
  CTS Corp.  271,244  2,609 
*  L-1 Identity Solutions Inc.  344,396  2,580 
  Cohu Inc.  178,359  2,488 
*  Rogers Corp.  81,603  2,473 
*  SMART Modular Technologies WWH Inc.  373,738  2,351 
*  Sonus Networks Inc.  1,098,548  2,318 
*  Bottomline Technologies Inc.  123,927  2,177 
*  Websense Inc.  124,473  2,173 
*  Netgear Inc.  96,510  2,093 
*  Omnivision Technologies Inc.  142,496  2,071 
*  Extreme Networks  714,693  2,051 
*  UTStarcom Inc.  877,132  1,921 
*  Kulicke & Soffa Industries Inc.  355,982  1,919 
*  Entegris Inc.  359,977  1,901 
  Micrel Inc.  227,784  1,868 
*  Ciber Inc.  530,730  1,831 
*  Symmetricom Inc.  350,564  1,823 
*  TNS Inc.  70,779  1,818 
  MTS Systems Corp.  60,236  1,731 
  Agilysys Inc.  184,446  1,679 
  Electro Rent Corp.  144,347  1,666 
*  ACI Worldwide Inc.  95,835  1,644 
*  ATMI Inc.  88,199  1,642 
*  Lattice Semiconductor Corp.  602,115  1,626 
*  Actel Corp.  136,428  1,621 
*,^  Rosetta Stone Inc.  90,049  1,616 
  BGC Partners Inc. Class A  345,458  1,596 
*  Infospace Inc.  183,680  1,574 
*,^  China Security & Surveillance Technology Inc.  203,697  1,556 
*  Silicon Image Inc.  601,497  1,552 
*  Electro Scientific Industries Inc.  142,660  1,544 
*  Cogo Group Inc.  203,184  1,498 
*  infoGROUP Inc.  180,049  1,444 
*  Imation Corp.  159,060  1,387 
*  Exar Corp.  193,314  1,375 
*  OpenTable Inc.  53,809  1,370 
*  Ness Technologies Inc.  277,951  1,362 
*  Integral Systems Inc.  138,815  1,202 
*  Perficient Inc.  126,005  1,062 
*  DSP Group Inc.  183,578  1,034 
*  Echelon Corp.  85,605  990 
*  i2 Technologies Inc.  50,536  966 
  Technitrol Inc.  214,881  941 
  Bel Fuse Inc. Class B  42,086  904 
*  EMS Technologies Inc.  61,356  890 
  Marchex Inc. Class B  172,767  878 
*  Silicon Graphics International Corp.  121,423  851 
*  Silicon Storage Technology Inc.  327,292  838 
*  Monotype Imaging Holdings Inc.  90,057  813 
*  CPI International Inc.  60,070  795 
*  Mattson Technology Inc.  200,520  718 
*  Ixia  96,350  717 

60


Vanguard® Small-Cap Value Index Fund
Schedule of Investments
December 31, 2009

      Market 
      Value 
    Shares  ($000) 
*  Internap Network Services Corp.  135,696  638 
*  China TransInfo Technology Corp.  71,616  585 
*  TechTarget Inc.  100,803  568 
*  Rudolph Technologies Inc.  82,386  554 
  Opnet Technologies Inc.  38,014  463 
*  Advanced Analogic Technologies Inc.  114,371  451 
  Renaissance Learning Inc.  34,955  397 
*  Trident Microsystems Inc.  177,266  330 
  Bel Fuse Inc. Class A  10,825  210 
      460,356 
Materials (8.0%)     
  Ashland Inc.  566,438  22,442 
  RPM International Inc.  1,034,204  21,025 
  Aptargroup Inc.  542,267  19,381 
  Packaging Corp. of America  825,709  19,000 
*  Domtar Corp.  335,907  18,613 
  Compass Minerals International Inc.  261,061  17,541 
  Temple-Inland Inc.  814,256  17,189 
  Huntsman Corp.  1,330,964  15,027 
  Rock-Tenn Co. Class A  293,663  14,804 
  Cytec Industries Inc.  388,784  14,159 
  Olin Corp.  626,741  10,980 
*  Coeur d'Alene Mines Corp.  604,037  10,909 
  Sensient Technologies Corp.  390,674  10,275 
  Schweitzer-Mauduit International Inc.  139,642  9,824 
  Carpenter Technology Corp.  352,714  9,506 
  Cabot Corp.  340,433  8,930 
  HB Fuller Co.  389,316  8,857 
  Eagle Materials Inc.  331,787  8,643 
*  Rockwood Holdings Inc.  356,142  8,391 
  Minerals Technologies Inc.  149,993  8,170 
*  OM Group Inc.  246,078  7,724 
*  Louisiana-Pacific Corp.  984,068  6,869 
  Worthington Industries Inc.  507,316  6,631 
  Texas Industries Inc.  189,045  6,615 
*  Century Aluminum Co.  386,123  6,251 
  Silgan Holdings Inc.  107,078  6,198 
  Arch Chemicals Inc.  200,566  6,193 
*  Hecla Mining Co.  951,019  5,877 
  Ferro Corp.  646,212  5,325 
*  PolyOne Corp.  704,122  5,260 
  AMCOL International Corp.  183,875  5,226 
  Royal Gold Inc.  108,492  5,110 
  Kaiser Aluminum Corp.  121,737  5,067 
*  Clearwater Paper Corp.  91,011  5,003 
  Koppers Holdings Inc.  163,808  4,986 
  Glatfelter  364,961  4,434 
  Wausau Paper Corp.  372,176  4,317 
  Westlake Chemical Corp.  158,361  3,948 
  A Schulman Inc.  188,763  3,809 
  Innophos Holdings Inc.  144,866  3,330 
*  Buckeye Technologies Inc.  310,219  3,028 
  Spartech Corp.  246,571  2,530 
*  Boise Inc.  473,351  2,513 
  Olympic Steel Inc.  74,099  2,414 
  Myers Industries Inc.  240,357  2,187 
  Innospec Inc.  189,745  1,915 
  AM Castle & Co.  137,480  1,882 
  Neenah Paper Inc.  117,710  1,642 
*,^  China Green Agriculture Inc.  99,857  1,468 
*,^  ShengdaTech Inc.  239,043  1,465 
  Deltic Timber Corp.  29,656  1,369 
  American Vanguard Corp.  162,949  1,352 
*  Stillwater Mining Co.  132,468  1,256 

61


Vanguard® Small-Cap Value Index Fund
Schedule of Investments
December 31, 2009

      Market 
      Value 
    Shares  ($000) 
*  Graphic Packaging Holding Co.  345,057  1,197 
^  Hawkins Inc.  45,625  996 
      409,053 
Telecommunication Services (1.0%)     
*  Syniverse Holdings Inc.  523,209  9,146 
*  Leap Wireless International Inc.  497,665  8,734 
*  AboveNet Inc.  101,466  6,599 
*  Cincinnati Bell Inc.  1,705,084  5,882 
  NTELOS Holdings Corp.  254,705  4,539 
  Iowa Telecommunications Services Inc.  262,333  4,397 
  Atlantic Tele-Network Inc.  79,236  4,359 
  Consolidated Communications Holdings Inc.  189,933  3,324 
*  Premiere Global Services Inc.  161,731  1,334 
*  SureWest Communications  107,809  1,074 
*,^  TerreStar Corp.  195,983  184 
*  FiberTower Corp.  30,156  126 
      49,698 
Utilities (6.8%)     
  AGL Resources Inc.  619,092  22,578 
  Atmos Energy Corp.  739,139  21,731 
  Great Plains Energy Inc.  1,084,411  21,027 
  Westar Energy Inc.  872,051  18,941 
  Piedmont Natural Gas Co. Inc.  584,405  15,633 
  Hawaiian Electric Industries Inc.  733,490  15,330 
  Nicor Inc.  362,257  15,251 
  Vectren Corp.  617,120  15,231 
  WGL Holdings Inc.  401,609  13,470 
  Cleco Corp.  485,412  13,266 
  New Jersey Resources Corp.  336,548  12,587 
  Portland General Electric Co.  602,309  12,293 
  IDACORP Inc.  378,447  12,091 
  Southwest Gas Corp.  359,044  10,244 
  Northwest Natural Gas Co.  212,329  9,563 
  Avista Corp.  438,092  9,458 
  Unisource Energy Corp.  286,434  9,220 
  South Jersey Industries Inc.  238,625  9,111 
  PNM Resources Inc.  694,337  8,783 
  Black Hills Corp.  311,087  8,284 
  Allete Inc.  232,100  7,585 
  NorthWestern Corp.  287,878  7,491 
*  El Paso Electric Co.  360,195  7,305 
  MGE Energy Inc.  185,066  6,614 
  UIL Holdings Corp.  227,764  6,396 
  California Water Service Group  157,854  5,812 
  Laclede Group Inc.  168,634  5,695 
  CH Energy Group Inc.  126,419  5,375 
  American States Water Co.  148,095  5,244 
  Empire District Electric Co.  276,222  5,174 
  SJW Corp.  111,006  2,505 
  Chesapeake Utilities Corp.  71,247  2,283 
  Central Vermont Public Service Corp.  93,482  1,944 
  Middlesex Water Co.  107,688  1,899 
  Connecticut Water Service Inc.  68,232  1,690 
*  China Natural Gas Inc.  105,921  1,178 
      348,282 
Total Common Stocks (Cost $5,034,847)    5,123,298 

62


        Market 
        Value 
  Coupon    Shares  ($000) 
Convertible Preferred Stocks (0.0%)         
Consumer Discretionary (0.0%)         
2 Sealy Corp. Pfd. (Cost $515)  8.000%    8,183  700 
 
Temporary Cash Investments (0.9%)1         
Money Market Fund (0.8%)         
3,4 Vanguard Market Liquidity Fund  0.187%    42,020,647  42,021 
 
      Face   
    Maturity  Amount   
    Date  ($000 )   
U.S. Government and Agency Obligations (0.1%)         
5,6 Federal Home Loan Bank Discount Notes  0.220%  3/26/10  2,000  1,999 
Total Temporary Cash Investments (Cost $44,020)        44,020 
Total Investments (100.7%) (Cost $5,079,382)        5,168,018 
Other Assets and Liabilities—Net (-0.7%)4        (35,345) 
Net Assets (100%)        5,132,673 

* Non-income-producing security.
^ Part of security position is on loan to broker-dealers. The total value of securities on loan is $33,270,000.
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 0.7%, respectively, of net
assets.
2 Non-income producing security - new issue that has not paid a dividend as of December 31, 2009.
3 Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by Vanguard. Rate shown is the 7-day
yield.
4 Includes $36,115,000 of collateral received for securities on loan.
5 The issuer operates under a congressional charter; its securities are not backed by the full faith and credit of the U.S. government.
6 Securities with a value of $1,999,000 have been segregated as initial margin for open futures contracts.

63

Vanguard® Small-Cap Value Index Fund
Schedule of Investments
December 31, 2009


Report of Independent Registered Public Accounting Firm

To the Trustees of Vanguard Index Funds and the Shareholders of Vanguard Small-Cap Index Fund, Vanguard Small-Cap Growth Index Fund and Vanguard Small-Cap Value Index Fund:

We have audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States), the financial statements (not presented herein) of Vanguard Small-Cap Index Fund, Vanguard Small-Cap Growth Index Fund and Vanguard Small-Cap Value Index Fund (constituting separate portfolios of Vanguard Index Funds, hereafter referred to as the "Funds") as of December 31, 2009 and for the year then ended and have issued our unqualified report thereon dated February 16, 2010. Our audits included audits of the Funds' schedules of investments as of December 31, 2009. These schedules of investments are the responsibility of the Funds' management. Our responsibility is to express an opinion on these schedules of investments based on our audits.

In our opinion, the accompanying schedules of investments referred to above, when read in conjunction with the financial statements of the Funds referred to above, present fairly, in all material respects, the information set forth therein.

PricewaterhouseCoopers LLP
Philadelphia, PA
February 16, 2010

64


© 2010 Vanguard Group. Inc.
All rights reserved.
Vanguard Marketing Corporation, Distributor.

SNA480 022010


Vanguard U.S. Stock Index Funds 
Mid-Capitalization Portfolios 
Annual Report 
 
December 31, 2009 


Vanguard Extended Market Index Fund 
Vanguard Mid-Cap Index Fund 
Vanguard Mid-Cap Growth Index Fund 
Vanguard Mid-Cap Value Index Fund 


> All four Vanguard U.S. mid-capitalization index funds closely tracked their target

benchmarks for fiscal-year 2009, with returns ranging from about 37% to

about 43%.

> After falling in early 2009, U.S. stocks rallied to post strong gains for the year.

Mid-size companies—especially growth stocks—did particularly well.

> All ten industry sectors contributed to the fund’s strong showing, led by

information technology and consumer discretionary stocks.

Contents   
Your Fund’s Total Returns.  1 
Chairman’s Letter.  4 
Results of Proxy Voting.  10 
Extended Market Index Fund.  13 
Mid-Cap Index Fund.  33 
Mid-Cap Growth Index Fund.  56 
Mid-Cap Value Index Fund.  70 
Your Fund’s After-Tax Returns.  86 
About Your Fund’s Expenses.  88 
Glossary.  91 


Mid-Cap Index Fund
Mid-Cap Growth Index Fund
Mid-Cap Value Index Fund

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 Extended Market Index Fund   
Investor Shares  37.43% 
Admiral™ Shares  37.65 
Signal® Shares  37.62 
Institutional Shares  37.69 
ETF Shares   
Market Price  38.10 
Net Asset Value  37.63 
S&P Completion Index  37.67 
Mid-Cap Core Funds Average  36.21 
Mid-Cap Core Funds Average: Derived from data provided by Lipper Inc.   
Vanguard Mid-Cap Index Fund   
Investor Shares  40.22% 
Admiral™ Shares  40.48 
Signal® Shares  40.43 
Institutional Shares  40.51 
ETF Shares   
Market Price  40.68 
Net Asset Value  40.49 
MSCI US Mid Cap 450 Index  40.49 
Mid-Cap Core Funds Average  36.21 
Mid-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. Institutional Shares are available for a minimum initial investment of $5 million. These Vanguard ETF Shares are
traded on the NYSE Arca exchange and are available only through brokers. The table shows the ETF returns based on both the NYSE Arca
market price and the net asset value for a share. U.S. Pat. No. 6,879,964 B2; 7,337,138.

1


Your Fund’s Total Returns

Fiscal Year Ended December 31, 2009   
  Total 
  Returns 
Vanguard Mid-Cap Growth Index Fund   
Investor Shares  42.54% 
ETF Shares   
Market Price  43.10 
Net Asset Value  42.85 
MSCI US Mid Cap Growth Index  43.01 
Mid-Cap Growth Funds Average  40.12 
Mid-Cap Growth Funds Average: Derived from data provided by Lipper Inc.   
Vanguard Mid-Cap Value Index Fund   
Investor Shares  37.61% 
ETF Shares   
Market Price  37.98 
Net Asset Value  37.75 
MSCI US Mid Cap Value Index  37.84 
Mid-Cap Value Funds Average  36.14 
Mid-Cap Value 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. Institutional Shares are available for a minimum initial investment of $5 million. These Vanguard ETF Shares are
traded on the NYSE Arca exchange and are available only through brokers. The table shows the ETF returns based on both the NYSE Arca
market price and the net asset value for a share. U.S. Pat. No. 6,879,964 B2; 7,337,138.

2


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 Extended Market Index Fund         
Investor Shares  $24.01  $32.67  $0.326  $0.000 
Admiral Shares  24.01  32.67  0.375  0.000 
Signal Shares  20.64  28.08  0.321  0.000 
Institutional Shares  24.02  32.68  0.388  0.000 
ETF Shares  31.67  43.09  0.494  0.000 
Vanguard Mid-Cap Index Fund         
Investor Shares  $11.80  $16.36  $0.182  $0.000 
Admiral Shares  53.49  74.23  0.897  0.000 
Signal Shares  16.89  23.43  0.283  0.000 
Institutional Shares  11.82  16.40  0.205  0.000 
ETF Shares  43.21  59.97  0.730  0.000 
Vanguard Mid-Cap Growth Index Fund         
Investor Shares  $13.43  $19.05  $0.093  $0.000 
ETF Shares  34.12  48.45  0.290  0.000 
Vanguard Mid-Cap Value Index Fund         
Investor Shares  $12.92  $17.45  $0.321  $0.000 
ETF Shares  32.80  44.31  0.864  0.000 

3


 

 

 

Chairman’s Letter

Dear Shareholder,

After a bearish start to the year, stock prices turned around dramatically in March and rose through the rest of 2009 as investors reacted positively to signs that the economy was finally on the mend. Throughout the market’s decline and subsequent rebound, Vanguard’s four U.S. mid-capitalization index funds met their primary objective of closely tracking their target indexes.

The returns of the funds’ various share classes ranged between about 37% and 43%—excellent results that reflected the fact that the mid-cap segment of the market performed particularly well in 2009. Although the Extended Market Index Fund invests across the mid-cap market, it also invests in small-cap stocks, so its returns were a bit lower than those of the three other funds, which focus entirely on mid-cap companies.

If you own shares of the fund in a taxable account, you may wish to review the discussion on the fund’s after-tax returns that appears 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

4


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.

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%.

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% 

5


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 mid-cap funds’ returns

From the year’s start through early March, stock indexes across the market’s capitalization spectrum continued their decline from 2008; they then reversed course suddenly and gained steadily through the rest of the year. The market’s recovery was broad-based, with all ten industry sectors in our four mid-cap index

funds posting yearly gains, a direct contrast to 2008, when all ten sectors recorded substantial losses.

Information technology companies, which are among the largest weightings in three of our four mid-cap index funds, returned 64% or more in each of the four funds. The sector was powered by renewed IT spending by corporations, which had slashed their budgets during the financial crisis. Business purchases of communications equipment, computer hardware, and computer software were expected to continue to rise, as was consumer spending for home computers and electronic components. This performance by IT proved to be the leading contributor to the year’s gains in all the funds except Mid-Cap Value

Expense Ratios             
Your Fund Compared With Its Peer Group             
            Peer 
  Investor  Admiral  Signal  Institutional  ETF  Group 
  Shares  Shares  Shares  Shares  Shares  Average 
Extended Market Index Fund  0.30%  0.15%  0.15%  0.09%  0.15%  1.30% 
Mid-Cap Index Fund  0.27  0.15  0.15  0.09  0.15  1.30 
Mid-Cap Growth Index Fund  0.30  —  —  —  0.15  1.49 
Mid-Cap Value Index Fund  0.30  —  —  —  0.15  1.41 

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 funds’ net assets as of the prospectus date. For the fiscal year ended December 31, 2009, the expense ratios were: for the
Extended Market Index Fund, 0.30% for Investor Shares, 0.13% for Admiral Shares, 0.13% for Signal Shares, 0.08% for Institutional Shares,
and 0.13% for ETF Shares; for the Mid-Cap Index Fund, 0.27% for Investor Shares, 0.14% for Admiral Shares, 0.14% for Signal Shares, 0.08%
for Institutional Shares, and 0.14% for ETF Shares; for the Mid-Cap Growth Index Fund, 0.30% for Investor Shares and 0.14% for ETF Shares;
and for the Mid-Cap Value Index Fund, 0.30% for Investor Shares and 0.14% for ETF Shares. The peer-group expense ratios are derived from
data provided by Lipper Inc. and capture information through year-end 2008.

Peer groups: for both the Extended Market Index Fund and the Mid-Cap Index Fund, Mid-Cap Core Funds; for the Mid-Cap Growth Index Fund,
Mid-Cap Growth Funds; and for the Mid-Cap Value Index Fund, Mid-Cap Value Funds.

6


Index, where tech stocks have a much smaller presence. Even in that fund, however, information technology was the second-best contributor to the fund’s performance.

The other most significant gains came from the consumer discretionary sector. These stocks—representing restaurants, specialty stores, media companies, and the like—suffered acutely in the bear

market as consumers cut back on nonessentials. As the recession eased, investors anticipated renewed discretionary spending. Returns in this sector in the mid-cap arena ranged from 42% in the Mid-Cap Growth Index Fund to 63% in its value counterpart.

Returns were not as robust among financial stocks, where the effects of the credit crisis lingered. Financials, including

Total Returns
Ten Years Ended December 31, 2009

  Average 
  Annual Return 
Extended Market Index Fund Investor Shares  1.71% 
Spliced Extended Market Index  1.72 
Mid-Cap Core Funds Average  3.72 

Spliced Extended Market Index: Dow Jones Wilshire 4500 Index through June 17, 2005; S&P Transitional Completion Index through
September 16, 2005; S&P Completion Index thereafter.
Mid-Cap Core Funds Average: Derived from data provided by Lipper Inc.

Mid-Cap Index Fund Investor Shares  6.13% 
Spliced Mid-Cap Index  6.13 
Mid-Cap Core Funds Average  3.72 

Spliced Mid-Cap Index: S&P MidCap 400 Index through May 16, 2003; MSCI US Mid Cap 450 Index thereafter.
Mid-Cap Core Funds Average: Derived from data provided by Lipper Inc.

Mid-Cap Growth Index Fund Investor Shares (Returns since inception: 8/24/2006)  -0.99% 
MSCI US Mid Cap Growth Index  -0.85 
Mid-Cap Growth Funds Average  -0.12 
Mid-Cap Growth Funds Average: Derived from data provided by Lipper Inc.

Mid-Cap Value Index Fund Investor Shares (Returns since inception: 8/24/2006)  -1.92% 
MSCI US Mid Cap Value Index  -1.78 
Mid-Cap Value Funds Average  -1.55 
Mid-Cap Value 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.

7


banks and real estate and insurance companies, represent the largest sector in the two funds with the broadest portfolios—the Extended Market Index and Mid-Cap Index Funds—but these stocks posted some of the least impressive returns. Nonetheless, with returns for financials ranging from 8% in the Extended Market Index Fund to 26% in the Mid-Cap Growth Index Fund, the turnaround in this sector was a welcome sign that the economy was healing.

Among other sectors, energy stocks did especially well as increased demand for oil, natural gas, and other energy sources helped prices rebound from their lows at the recession’s depth. Although they represent a relatively small slice of the market, energy stocks’ returns were so robust—ranging from 56% to 71% in the four funds—that they contributed outsized gains to the funds’ bottom lines.

A look at the long-term record of our mid-cap index funds

After volatile years like 2008 and 2009, it can be helpful to step back and take a longer view of any stock fund’s performance. As shown in the table on page 7, our four mid-cap index funds have done quite well in tracking their benchmarks—which is, after all, the primary objective of an index fund.

In fact, for the two funds that have been operating for more than ten years, the ten-year average annual return is nearly identical to that of their target indexes. This is a credit to the fund’s advisor, Vanguard Quantitative Equity Group, which has more than 30 years of index-tracking experience.

These long-tenured professionals have developed sophisticated portfolio construction and trading methodologies to help Vanguard deliver superior index-fund management in a variety of different marketplaces and all market environments. The group’s efforts are made easier, of course, by the funds’ low operating expenses.

You’ll note that the Mid-Cap Index Fund outperformed its peers over the past decade, a gratifying result for investors who believe in the inherent benefits of index investing. Meanwhile, the Extended Market Index Fund’s ten-year average annual return is lower than the peer-group average. As mentioned before, this fund includes a broad sampling of small-cap stocks as well as mid-caps, and small-caps didn’t perform as well over the past ten years. Of course, there’s no way of knowing whether mid- or small-cap stocks will outperform in the years ahead, and the Extended Market Index Fund can be a good choice for investors looking for broad exposure to both market segments.

The two newer funds, which cover the growth and value segments of the mid-cap universe, have been operating only since 2006, so their long-term record has not yet fully materialized.

Putting a tough decade for stocks in perspective

Equity returns for the past decade have served as a forceful reminder that the stock market sometimes fails to live up to its historical long-term averages and can

8


even underperform other asset classes, like fixed income securities, over longer periods, as it did in the past ten years.

However, we believe the case for long-term equity investing remains sound. History shows us that 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 risks in the stock market are why we expect stocks to outperform less risky assets over most long-term periods. In other words, investors can reasonably expect higher long-term returns when taking on more risk.

Of course, nobody knows whether this faith in stocks will be rewarded in 2010 as it was in 2009, because the market’s twists and turns are impossible to predict with certainty. But while we can’t control the markets, we can control how we react to the market’s inevitable volatility and cyclical shifts. Besides diversifying among asset classes, it is valuable to diversify within each asset type—for example, between growth and value stocks, and among stocks of large-, mid-, and small-capitalizations. Vanguard’s mid-cap index

funds can help you stay invested in the mid-cap arena in a diversified, low-cost, and tax-efficient way.

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 your entrusting your assets to Vanguard.

Sincerely,


F. William McNabb III
Chairman and Chief Executive Officer
January 14, 2010


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.

Extended Market Index Fund, Mid-Cap Index Fund, Mid-Cap Growth Index Fund, Mid-Cap Value Index Fund

      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.

10


        Broker  Percentage 
Vanguard Fund  For  Abstain  Against  Non-Votes  For 
Extended Market Index Fund           
2a  236,812,297  3,797,640  6,791,478  21,688,216  88.0% 
2b  235,715,205  4,136,068  7,550,148  21,688,210  87.6% 
2c  232,753,197  4,045,556  10,602,667  21,688,211  86.5% 
2d  235,067,744  4,029,787  8,303,885  21,688,216  87.4% 
2e  234,795,163  3,882,543  8,723,712  21,688,213  87.3% 
2f  236,125,115  4,059,957  7,216,350  21,688,209  87.7% 
2g  237,292,685  3,952,026  6,156,708  21,688,213  88.2% 
 
Mid-Cap Index Fund           
2a  460,157,871  6,868,376  12,483,281  68,941,261  83.9% 
2b  456,878,689  7,605,277  15,025,557  68,941,267  83.3% 
2c  445,102,379  7,466,066  26,941,078  68,941,267  81.2% 
2d  450,141,589  7,460,332  21,907,604  68,941,265  82.1% 
2e  450,050,641  7,085,303  22,373,581  68,941,265  82.1% 
2f  452,589,913  7,205,935  19,713,674  68,941,267  82.5% 
2g  454,421,266  7,060,161  18,028,094  68,941,269  82.9% 
 
Mid-Cap Growth Index Fund           
2a  19,458,937  461,377  323,474  2,773,339  84.5% 
2b  19,427,889  490,520  325,378  2,773,340  84.4% 
2c  19,314,643  471,732  457,412  2,773,339  83.9% 
2d  19,312,858  496,905  434,026  2,773,338  83.9% 
2e  19,228,998  476,864  537,928  2,773,337  83.5% 
2f  19,432,867  460,397  350,522  2,773,340  84.4% 
2g  19,433,832  479,684  330,270  2,773,341  84.4% 
 
Mid-Cap Value Index Fund           
2a  14,453,556  542,390  710,408  2,789,991  78.1% 
2b  14,408,546  580,844  716,963  2,789,993  77.9% 
2c  14,314,571  560,128  831,656  2,789,991  77.4% 
2d  14,320,665  568,802  816,886  2,789,992  77.4% 
2e  14,225,799  548,290  932,266  2,789,990  76.9% 
2f  14,403,887  547,096  755,373  2,789,990  77.9% 
2g  14,833,349  581,343  291,662  2,789,992  80.2% 

11


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 
Extended Market Index Fund  26,166,233  5,409,212  215,486,392  22,027,794  9.7% 

12


Extended Market Index Fund

Fund Profile
As of December 31, 2009

Share-Class Characteristics           
  Investor  Admiral  Signal  Institutional  ETF 
  Shares  Shares  Shares  Shares  Shares 
Ticker Symbol  VEXMX  VEXAX  VEMSX  VIEIX  VXF 
Expense Ratio1  0.30%  0.15%  0.15%  0.09%  0.15% 
30-Day SEC Yield  1.12%  1.27%  1.27%  1.31%  1.27% 

Portfolio Characteristics     
      DJ 
    S&P  U.S. Total 
    Completion  Market 
  Fund  Index  Index 
Number of Stocks  3,012  3,465  4,201 
Median Market Cap  $2.0B  $2.0B  $30.7B 
Price/Earnings Ratio  301.7x 303.3x  35.7x 
Price/Book Ratio  1.9x  1.9x  2.1x 
Return on Equity  11.7%  11.7%  19.3% 
Earnings Growth Rate  6.2%  6.2%  8.1% 
Dividend Yield  1.1%  1.1%  1.8% 
Foreign Holdings  0.0%  0.0%  0.0% 
Turnover Rate  17%  —  — 
Short-Term Reserves  -0.1%  —  — 

Volatility Measures     
    DJ 
  S&P  U.S. Total 
  Completion  Market 
  Index  Index 
R-Squared  1.00  0.95 
Beta  1.00  1.18 

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) 
 
Crown Castle  Integrated   
International Corp.  telecommunication   
  servies  0.5% 
Mosaic Co.  Fertilizers &   
  Agricultural   
  Chemicals  0.5 
Delta Air Lines Inc.  Airlines  0.4 
Bunge Ltd.  Agricultural   
  Products  0.4 
Vertex Pharmaceuticals  Biotechnology   
Inc.    0.4 
Discovery  Broadcasting   
Communications Inc.    0.4 
BlackRock Inc.  Asset Management   
  & Custody Banks  0.4 
Ultra Petroleum Corp.  Oil & Gas   
  Exploration &   
  Production  0.4 
Petrohawk Energy Corp.  Oil & Gas   
  Exploration &   
  Production  0.3 
Newfield Exploration Co.  Oil & Gas   
  Exploration &   
  Production  0.3 
Top Ten    4.0% 

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

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 0.30% for
Investor Shares, 0.13% for Admiral Shares, 0.13% for Signal Shares, 0.08% for Institutional Shares, and 0.13% for ETF Shares.

13


Extended Market Index Fund

Sector Diversification (% of equity exposure)

      DJ 
    S&P  U.S. Total 
    Completion  Market 
  Fund  Index  Index 
Consumer       
Discretionary  13.8%  13.7%  10.3% 
Consumer Staples  3.6  3.6  9.9 
Energy  7.2  7.2  10.6 
Financials  18.3  18.4  16.0 
Health Care  12.8  12.9  12.6 
Industrials  15.0  15.0  10.6 
Information       
Technology  16.0  15.9  19.3 
Materials  6.4  6.4  4.0 
Telecommunication       
Services  2.0  2.0  2.9 
Utilities  4.9  4.9  3.8 

Investment Focus


14


Extended Market 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 
  Extended Market Index Fund Investor         
  Shares  37.43%  2.06%  1.71%  $11,853 
••••••••  Dow Jones U.S. Total Stock Market         
  Index  29.35  1.09  -0.17  9,828 
 
 
Spliced Extended Market Index 36.21 1.71 3.72 14,406
– – – –  Mid-Cap Core Funds Average 37.67  2.07  1.72  11,861 

Spliced Extended Market Index: Dow Jones Wilshire 4500 Index through June 17, 2005; S&P Transitional Completion Index through
September 16, 2005; S&P Completion Index thereafter.
Mid-Cap Core Funds Average: Derived from data provided by Lipper Inc.

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.

15


Extended Market Index Fund         
 
 
 
 
      Since  Final Value 
  One  Five  Inception  of a $100,000 
  Year  Years  (11/13/2000)  Investment 
Extended Market Index Fund         
Admiral Shares  37.65%  2.21%  3.40%  $135,687 
Dow Jones U.S. Total Stock Market         
Index  29.35  1.09  0.79  107,434 
Spliced Extended Market Index  37.67  2.07  3.31  134,634 
Performance for the fund’s Admiral Shares and comparative standards is calculated since the Admiral Shares’ inception.   
 
 
      Since  Final Value 
  One    Inception  of a $1,000,000 
  Year    (9/1/2006)  Investment 
Extended Market Index Fund Signal         
Shares  37.62%    -1.07%  $964,870 
Dow Jones U.S. Total Stock Market         
Index  29.35    -1.96  936,049 
S&P Completion Index  37.67    -1.21  960,147 
Performance for the fund’s Signal Shares and comparative standards is calculated since the Signal Shares’ inception.   
 
 
        Final Value 
  One  Five  Ten  of a $5,000,000 
  Year  Years  Years  Investment 
Extended Market Index Fund         
Institutional Shares  37.69%  2.25%  1.89%  $6,028,835 
Dow Jones U.S. Total Stock Market         
Index  29.35  1.09  -0.17  4,913,789 
Spliced Extended Market Index  37.67  2.07  1.72  5,930,607 
 
 
      Since  Final Value 
  One  Five  Inception  of a $10,000 
  Year  Years  (12/27/2001)  Investment 
Extended Market Index Fund         
ETF Shares Net Asset Value  37.63%  2.23%  5.72%  $15,613 
Dow Jones U.S. Total Stock Market Index  29.35  1.09  2.63  12,312 
Spliced Extended Market Index  37.67  2.07  5.67  15,551 

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

For more information about how the ETF Shares' market prices have compared with their net asset value, visit www.vanguard.com, select your ETF, and then select the Performance tab. The Premium/Discount table there shows the percentages of days on which the ETF Shares' market price was above or below the NAV.

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.

16


Extended Market Index Fund

Cumulative Returns of ETF Shares: December 27, 2001, Through December 31, 2009

  One  Five  Since 
  Year  Years  Inception 
Extended Market Index Fund       
ETF Shares Market Price  38.10%  11.74%  56.08% 
Extended Market Index Fund       
ETF Shares Net Asset Value  37.63  11.66  56.13 
Spliced Extended Market Index  37.67  10.78  55.51 

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

17


Extended Market Index Fund

Financial Statements

Statement of Net Assets—Investments Summary
As of December 31, 2009

This Statement summarizes the fund’s holdings by asset type. Details are reported for each of the fund’s 50 largest individual holdings and for investments that, in total for any issuer, represent more than 1% of the fund’s net assets. The total value of smaller holdings is reported as a single amount within each category.

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 complete listing of the fund’s holdings is available electronically on Vanguard.com and on the Securities and Exchange Commission’s website (www.sec.gov), or you can have it mailed to you without charge by calling 800-662-7447. For the first and third fiscal quarters, the fund files the lists with the SEC on Form N-Q. Shareholders can look up the fund’s Forms N-Q on the SEC’s website. 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  Percentage 
    Value •  of Net 
  Shares  ($000)  Assets 
Common Stocks       
Consumer Discretionary       
Cablevision Systems Corp. Class A  1,487,434  38,406  0.3% 
* CarMax Inc.  1,333,409  32,335  0.3% 
* Las Vegas Sands Corp.  1,865,473  27,870  0.2% 
* Urban Outfitters Inc.  779,008  27,258  0.2% 
DISH Network Corp. Class A  1,262,449  26,221  0.2% 
* Liberty Global Inc.  1,197,260  26,160  0.2% 
* Discovery Communications Inc.  978,231  25,943  0.2% 
* Dollar Tree Inc.  530,631  25,629  0.2% 
* NVR Inc.  35,670  25,351  0.2% 
Consumer Discretionary—Other †    1,454,601  11.6% 
    1,709,774  13.6% 
Consumer Staples       
Bunge Ltd.  805,958  51,444  0.4% 
* Energizer Holdings Inc.  419,359  25,698  0.2% 
Church & Dwight Co. Inc.  422,860  25,562  0.2% 
Consumer Staples—Other †    346,227  2.8% 
    448,931  3.6% 
Energy       
* Ultra Petroleum Corp.  910,331  45,389  0.4% 
* Petrohawk Energy Corp.  1,808,397  43,383  0.3% 
* Newfield Exploration Co.  798,646  38,519  0.3% 
* Pride International Inc.  1,049,072  33,476  0.3% 
* Alpha Natural Resources Inc.  727,102  31,542  0.3% 
Cimarex Energy Co.  501,990  26,590  0.2% 
Helmerich & Payne Inc.  634,543  25,306  0.2% 
Energy—Other †    646,125  5.1% 
    890,330  7.1% 
Financials       
BlackRock Inc.  195,999  45,511  0.4% 
New York Community Bancorp Inc.  2,499,504  36,268  0.3% 
Everest Re Group Ltd.  358,613  30,726  0.2% 

18


Extended Market Index Fund

    Market  Percentage 
    Value •  of Net 
  Shares  ($000)  Assets 
* TD Ameritrade Holding Corp.  1,518,651  29,431  0.2% 
Financials—Other †    2,130,898  17.0% 
    2,272,834  18.1% 
Health Care       
* Vertex Pharmaceuticals Inc.  1,158,210  49,629  0.4% 
* Cerner Corp.  407,296  33,577  0.3% 
* Human Genome Sciences Inc.  1,084,851  33,196  0.3% 
* Edwards Lifesciences Corp.  340,094  29,537  0.2% 
* Henry Schein Inc.  543,867  28,607  0.2% 
Beckman Coulter Inc.  416,726  27,271  0.2% 
* Alexion Pharmaceuticals Inc.  532,430  25,993  0.2% 
Health Care—Other †    1,361,061  10.9% 
    1,588,871  12.7% 
Industrials       
* Delta Air Lines Inc.  4,685,455  53,320  0.4% 
* McDermott International Inc.  1,383,558  33,219  0.3% 
Joy Global Inc.  615,060  31,731  0.3% 
Manpower Inc.  471,650  25,743  0.2% 
Bucyrus International Inc. Class A  451,682  25,461  0.2% 
Industrials—Other †    1,695,618  13.5% 
    1,865,092  14.9% 
Information Technology       
* Activision Blizzard Inc.  3,354,240  37,266  0.3% 
Maxim Integrated Products Inc.  1,834,726  37,245  0.3% 
* Cree Inc.  622,909  35,113  0.3% 
* Lam Research Corp.  764,988  29,995  0.2% 
* Avnet Inc.  909,333  27,426  0.2% 
Global Payments Inc.  487,118  26,236  0.2% 
* F5 Networks Inc.  476,497  25,245  0.2% 
Information Technology—Other †    1,763,358  14.1% 
    1,981,884  15.8% 
Materials       
Mosaic Co.  962,833  57,510  0.5% 
Lubrizol Corp.  410,334  29,934  0.2% 
Celanese Corp. Class A  863,215  27,709  0.2% 
Materials—Other †    675,124  5.4% 
    790,277  6.3% 
Telecommunication Services       
* Crown Castle International Corp.  1,505,286  58,766  0.5% 
* NII Holdings Inc.  999,122  33,550  0.3% 
Telecommunication Services—Other †    153,330  1.2% 
    245,646  2.0% 
Utilities       
* NRG Energy Inc.  1,541,318  36,391  0.3% 
Oneok Inc.  634,107  28,262  0.2% 
MDU Resources Group Inc.  1,113,730  26,284  0.2% 
Utilities—Other †    517,647  4.1% 
    608,584  4.8% 
Total Common Stocks (Cost $12,111,726)    12,402,223  98.9%1 
Convertible Preferred Stocks       
Consumer Discretionary †    492  0.0% 
Total Convertible Preferred Stocks (Cost $633)    492  0.0% 

19


Extended Market Index Fund

      Market  Percentage 
      Value •  of Net 
  Coupon  Shares  ($000)  Assets 
Temporary Cash Investments         
Money Market Fund         
2,3 Vanguard Market Liquidity Fund  0.187%  271,943,860  271,944  2.1% 
4U.S. Government and Agency Obligations †      6,993  0.1% 
Total Temporary Cash Investments (Cost $278,936)      278,937  2.2%1 
5Total Investments (Cost $12,391,295)      12,681,652  101.1% 
Other Assets and Liabilities         
Other Assets      88,360  0.7% 
Liabilities3      (224,103)  (1.8%) 
      (135,743)  (1.1%) 
Net Assets      12,545,909  100.0% 
 
 
At December 31, 2009, net assets consisted of:         
        Amount 
        ($000) 
Paid-in Capital        13,952,506 
Overdistributed Net Investment Income        (20,862) 
Accumulated Net Realized Losses        (1,677,778) 
Unrealized Appreciation (Depreciation)         
Investment Securities        290,357 
Futures Contracts        1,686 
Net Assets        12,545,909 

20


Extended Market Index Fund

  Amount 
  ($000) 
Investor Shares—Net Assets   
Applicable to 131,904,271 outstanding $.001 par value shares of   
beneficial interest (unlimited authorization)  4,309,262 
Net Asset Value Per Share—Investor Shares  $32.67 
 
Admiral Shares—Net Assets   
Applicable to 70,410,211 outstanding $.001 par value shares of   
beneficial interest (unlimited authorization)  2,300,482 
Net Asset Value Per Share—Admiral Shares  $32.67 
 
Signal Shares—Net Assets   
Applicable to 59,160,644 outstanding $.001 par value shares of   
beneficial interest (unlimited authorization)  1,661,174 
Net Asset Value Per Share—Signal Shares  $28.08 
 
Institutional Shares—Net Assets   
Applicable to 106,921,351 outstanding $.001 par value shares of   
beneficial interest (unlimited authorization)  3,494,072 
Net Asset Value Per Share—Institutional Shares  $32.68 
 
ETF Shares—Net Assets   
Applicable to 18,125,008 outstanding $.001 par value shares of   
beneficial interest (unlimited authorization)  780,919 
Net Asset Value Per Share—ETF Shares  $43.09 

• See Note A in Notes to Financial Statements.
* Non-income-producing security.
† Represents the aggregate value, by category, of securities that are not among the 50 largest holdings and, in total for any issuer, represent
1% or less of net assets.
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 99.8% and 1.3%, 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 $178,285,000 of collateral received for securities on loan.
4 Securities with a value of $6,993,000 have been segregated as initial margin for open futures contracts.
5 The total value of securities on loan is $153,127,000.
See accompanying Notes, which are an integral part of the Financial Statements.
21


Extended Market Index Fund

Statement of Operations

  Year Ended 
  December 31, 2009 
  ($000) 
Investment Income   
Income   
Dividends  133,065 
Interest1  275 
Security Lending  15,999 
Total Income  149,339 
Expenses   
The Vanguard Group—Note B   
Investment Advisory Services  420 
Management and Administrative—Investor Shares  8,823 
Management and Administrative—Admiral Shares  1,781 
Management and Administrative—Signal Shares  1,196 
Management and Administrative—Institutional Shares  1,068 
Management and Administrative—ETF Shares  480 
Marketing and Distribution—Investor Shares  818 
Marketing and Distribution—Admiral Shares  367 
Marketing and Distribution—Signal Shares  372 
Marketing and Distribution—Institutional Shares  824 
Marketing and Distribution—ETF Shares  184 
Custodian Fees  573 
Auditing Fees  30 
Shareholders’ Reports and Proxies—Investor Shares  339 
Shareholders’ Reports and Proxies—Admiral Shares  28 
Shareholders’ Reports and Proxies—Signal Shares  38 
Shareholders’ Reports and Proxies—Institutional Shares  46 
Shareholders’ Reports and Proxies—ETF Shares  75 
Trustees’ Fees and Expenses  20 
Total Expenses  17,482 
Net Investment Income  131,857 
Realized Net Gain (Loss)   
Investment Securities Sold  87,635 
Futures Contracts  9,728 
Realized Net Gain (Loss)  97,363 
Change in Unrealized Appreciation (Depreciation)   
Investment Securities  3,235,349 
Futures Contracts  (1,823) 
Change in Unrealized Appreciation (Depreciation)  3,233,526 
Net Increase (Decrease) in Net Assets Resulting from Operations  3,462,746 

1 Interest income from an affiliated company of the fund was $212,000.

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

22


Extended Market 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  131,857  158,203 
Realized Net Gain (Loss)  97,363  (257,426) 
Change in Unrealized Appreciation (Depreciation)  3,233,526  (5,332,324) 
Net Increase (Decrease) in Net Assets Resulting from Operations  3,462,746  (5,431,547) 
Distributions     
Net Investment Income     
Investor Shares  (42,559)  (52,024) 
Admiral Shares  (26,111)  (31,634) 
Signal Shares  (18,811)  (24,173) 
Institutional Shares  (40,612)  (46,301) 
ETF Shares  (8,825)  (9,379) 
Realized Capital Gain     
Investor Shares  —  — 
Admiral Shares  —  — 
Signal Shares  —  — 
Institutional Shares  —  — 
ETF Shares  —  — 
Total Distributions  (136,918)  (163,511) 
Capital Share Transactions     
Investor Shares  109,190  (145,336) 
Admiral Shares  9,913  17,030 
Signal Shares  (12,766)  (27,503) 
Institutional Shares  101,830  623,997 
ETF Shares  70,227  190,528 
Net Increase (Decrease) from Capital Share Transactions  278,394  658,716 
Total Increase (Decrease)  3,604,222  (4,936,342) 
Net Assets     
Beginning of Period  8,941,687  13,878,029 
End of Period1  12,545,909  8,941,687 

1 Net Assets—End of Period includes undistributed (overdistributed) net investment income of ($20,862,000) and ($15,801,000).

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

23


Extended Market Index Fund

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  $24.01  $39.89  $38.68  $34.26  $31.36 
Investment Operations           
Net Investment Income  .316  .392  .453  .447  .350 
Net Realized and Unrealized Gain (Loss)           
on Investments  8.670  (15.862)  1.214  4.440  2.880 
Total from Investment Operations  8.986  (15.470)  1.667  4.887  3.230 
Distributions           
Dividends from Net Investment Income  (.326)  (.410)  (.457)  (.467)  (.330) 
Distributions from Realized Capital Gains  —  —  —  —  — 
Total Distributions  (.326)  (.410)  (.457)  (.467)  (.330) 
Net Asset Value, End of Period  $32.67  $24.01  $39.89  $38.68  $34.26 
 
Total Return1  37.43%  -38.73%  4.33%  14.27%  10.29% 
 
Ratios/Supplemental Data           
Net Assets, End of Period (Millions)  $4,309  $3,080  $5,254  $6,172  $5,441 
Ratio of Total Expenses to           
Average Net Assets  0.30%  0.25%  0.24%  0.25%  0.25% 
Ratio of Net Investment Income to           
Average Net Assets  1.16%  1.22%  1.13%  1.22%  1.12% 
Portfolio Turnover Rate2  17%  13%  14%  16%  27%3 

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,
including ETF Creation Units.
3 Includes activity related to a change in the fund’s target index.

See accompanying Notes, which are an integral part of the Financial Statements.
24


Extended Market Index Fund

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  $24.01  $39.90  $38.70  $34.28  $31.36 
Investment Operations           
Net Investment Income  .362  .443  .510  .503  .409 
Net Realized and Unrealized Gain (Loss)           
on Investments  8.673  (15.881)  1.214  4.440  2.880 
Total from Investment Operations  9.035  (15.438)  1.724  4.943  3.289 
Distributions           
Dividends from Net Investment Income  (.375)  (.452)  (.524)  (.523)  (.369) 
Distributions from Realized Capital Gains  —  —  —  —  — 
Total Distributions  (.375)  (.452)  (.524)  (.523)  (.369) 
Net Asset Value, End of Period  $32.67  $24.01  $39.90  $38.70  $34.28 
 
Total Return  37.65%  -38.63%  4.48%  14.43%  10.47% 
 
Ratios/Supplemental Data           
Net Assets, End of Period (Millions)  $2,300  $1,705  $2,811  $3,137  $2,379 
Ratio of Total Expenses to           
Average Net Assets  0.13%  0.10%  0.09%  0.10%  0.10% 
Ratio of Net Investment Income to           
Average Net Assets  1.33%  1.37%  1.28%  1.37%  1.27% 
Portfolio Turnover Rate1  17%  13%  14%  16%  27%2 

1 Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares,
including ETF Creation Units.
2 Includes activity related to a change in the fund’s target index.

See accompanying Notes, which are an integral part of the Financial Statements.
25


Extended Market Index Fund

Financial Highlights

Signal Shares         
        Sept. 1, 
        20061 to 
  Year Ended December 31,  Dec. 31, 
For a Share Outstanding Throughout Each Period  2009  2008  2007  2006 
Net Asset Value, Beginning of Period  $20.64  $34.29  $33.26  $30.79 
Investment Operations         
Net Investment Income  .310  .381  .443  .173 
Net Realized and Unrealized Gain (Loss) on Investments  7.451  (13.642)  1.035  2.698 
Total from Investment Operations  7.761  (13.261)  1.478  2.871 
Distributions         
Dividends from Net Investment Income  (.321)  (.389)  (.448)  (.401) 
Distributions from Realized Capital Gains  —  —  —  — 
Total Distributions  (.321)  (.389)  (.448)  (.401) 
Net Asset Value, End of Period  $28.08  $20.64  $34.29  $33.26 
 
Total Return  37.62%  -38.61%  4.46%  9.33% 
 
Ratios/Supplemental Data         
Net Assets, End of Period (Millions)  $1,661  $1,230  $2,079  $408 
Ratio of Total Expenses to Average Net Assets  0.13%  0.10%  0.09%  0.10%2 
Ratio of Net Investment Income to Average Net Assets  1.33%  1.37%  1.28%  1.37%2 
Portfolio Turnover Rate3  17%  13%  14%  16% 

1 Inception.
2 Annualized.
3 Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares,
including ETF Creation Units.

See accompanying Notes, which are an integral part of the Financial Statements.
26


Extended Market Index Fund

Financial Highlights

Institutional Shares           
 
For a Share Outstanding  Year Ended December 31, 
Throughout Each Period  2009  2008  2007  2006  2005 
Net Asset Value, Beginning of Period  $24.02  $39.91  $38.71  $34.29  $31.38 
Investment Operations           
Net Investment Income  .374  .458  .523  .513  .419 
Net Realized and Unrealized Gain (Loss)           
on Investments  8.674  (15.882)  1.214  4.440  2.880 
Total from Investment Operations  9.048  (15.424)  1.737  4.953  3.299 
Distributions           
Dividends from Net Investment Income  (.388)  (.466)  (.537)  (.533)  (.389) 
Distributions from Realized Capital Gains  —  —  —  —  — 
Total Distributions  (.388)  (.466)  (.537)  (.533)  (.389) 
Net Asset Value, End of Period  $32.68  $24.02  $39.91  $38.71  $34.29 
 
Total Return  37.69%  -38.58%  4.51%  14.46%  10.50% 
 
Ratios/Supplemental Data           
Net Assets, End of Period (Millions)  $3,494  $2,442  $3,175  $2,621  $2,361 
Ratio of Total Expenses to           
Average Net Assets  0.08%  0.06%  0.06%  0.07%  0.07% 
Ratio of Net Investment Income to           
Average Net Assets  1.38%  1.41%  1.31%  1.40%  1.30% 
Portfolio Turnover Rate1  17%  13%  14%  16%  27%2 

1 Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares,
including ETF Creation Units.
2 Includes activity related to a change in the fund’s target index.

See accompanying Notes, which are an integral part of the Financial Statements.
27


Extended Market Index Fund

Financial Highlights

ETF Shares           
 
For a Share Outstanding  Year Ended December 31, 
Throughout Each Period  2009  20081  20071  20061  20051 
Net Asset Value, Beginning of Period  $31.67  $52.62  $51.03  $45.20  $41.37 
Investment Operations           
Net Investment Income  .476  .595  .695  .669  .532 
Net Realized and Unrealized Gain (Loss)           
on Investments  11.438  (20.935)  1.592  5.858  3.806 
Total from Investment Operations  11.914  (20.340)  2.287  6.527  4.338 
Distributions           
Dividends from Net Investment Income  (.494)  (.610)  (.697)  (.697)  (.508) 
Distributions from Realized Capital Gains  —  —  —  —  — 
Total Distributions  (.494)  (.610)  (.697)  (.697)  (.508) 
Net Asset Value, End of Period  $43.09  $31.67  $52.62  $51.03  $45.20 
 
Total Return  37.63%  -38.60%  4.49%  14.46%  10.48% 
 
Ratios/Supplemental Data           
Net Assets, End of Period (Millions)  $781  $484  $559  $409  $368 
Ratio of Total Expenses to           
Average Net Assets  0.13%  0.08%  0.08%  0.08%  0.08% 
Ratio of Net Investment Income to           
Average Net Assets  1.33%  1.39%  1.29%  1.39%  1.29% 
Portfolio Turnover Rate2  17%  13%  14%  16%  27%3 

1 Adjusted to reflect a 2-for-1 share split as of the close of business on June 13, 2008.
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,
including ETF Creation Units.
3 Includes activity related to a change in the fund’s target index.

See accompanying Notes, which are an integral part of the Financial Statements.
28


Extended Market Index Fund

Notes to Financial Statements

Vanguard Extended Market Index Fund is registered under the Investment Company Act of 1940 as an open-end investment company, or mutual fund. The fund offers five classes of shares: Investor Shares, Admiral Shares, Signal Shares, Institutional Shares, and ETF Shares. Investor Shares are available to any investor who meets the fund’s minimum purchase requirements. Admiral Shares are designed for investors who meet certain administrative, service, tenure, and account-size criteria. Signal Shares are designed for institutional investors who meet certain administrative, service, and account-size criteria. Institutional Shares are designed for investors who meet certain administrative and service criteria and invest a minimum amount of $5 million. ETF Shares are listed for trading on the NYSE Arca, Inc.; they can be purchased and sold through a broker.

A. The following significant accounting policies conform to generally accepted accounting principles for

U.S. mutual funds. The fund consistently follows such policies in preparing its financial statements.

1. Security Valuation: Securities are valued as of the close of trading on the New York Stock Exchange (generally 4 p.m., Eastern time) on the valuation date. Equity securities are valued at the latest quoted sales prices or official closing prices taken from the primary market in which each security trades; such securities not traded on the valuation date are valued at the mean of the latest quoted bid and asked prices. Securities for which market quotations are not readily available, or whose values have been materially affected by events occurring before the fund’s pricing time but after the close of the securities’ primary markets, are valued by methods deemed by the board of trustees to represent fair value. Investments in Vanguard Market Liquidity Fund are valued at that fund’s net asset value. Temporary cash investments acquired over 60 days to maturity are valued using the latest bid prices or using valuations based on a matrix system (which considers such factors as security prices, yields, maturities, and ratings), both as furnished by independent pricing services. Other temporary cash investments are valued at amortized cost, which approximates market value.

2. Futures Contracts: The fund uses index futures contracts to a limited extent, with the objectives of maintaining full exposure to the stock market, enhancing returns, maintaining liquidity, and minimizing transaction costs. The fund may purchase futures contracts to immediately invest incoming cash in the market, or sell futures in response to cash outflows, thereby simulating a fully invested position in the underlying index while maintaining a cash balance for liquidity. The fund may seek to enhance returns by using futures contracts instead of the underlying securities when futures are believed to be priced more attractively than the underlying securities. The primary risks associated with the use of futures contracts are imperfect correlation between changes in market values of stocks held by the fund and the prices of futures contracts, and the possibility of an illiquid market.

Futures contracts are valued at their quoted daily settlement prices. The aggregate principal amounts of the contracts are not recorded in the Statement of Net Assets. Fluctuations in the value of the contracts are recorded in the Statement of Net Assets as an asset (liability) and in the Statement of Operations as unrealized appreciation (depreciation) until the contracts are closed, when they are recorded as realized futures gains (losses).

3. Federal Income Taxes: The fund intends to continue to qualify as a regulated investment company and distribute all of its taxable income. Management has analyzed the fund’s tax positions taken for all open federal income tax years (December 31, 2006–2009), and has concluded that no provision for federal income tax is required in the fund’s financial statements.

4. Distributions: Distributions to shareholders are recorded on the ex-dividend date.

29


Extended Market Index Fund

5. Security Lending: The fund may lend its securities to qualified institutional borrowers to earn additional income. Security loans are required to be secured at all times by collateral at least equal to the market value of securities loaned. The fund invests cash collateral received in Vanguard Market Liquidity Fund, and records a liability for the return of the collateral, during the period the securities are on loan. Security lending income represents the income earned on investing cash collateral, less expenses associated with the loan.

6. Other: Dividend income is recorded on the ex-dividend date. Interest income includes income distributions received from Vanguard Market Liquidity Fund and is accrued daily. Security transactions are accounted for on the date securities are bought or sold. Costs used to determine realized gains (losses) on the sale of investment securities are those of the specific securities sold.

Each class of shares has equal rights as to assets and earnings, except that each class separately bears certain class-specific expenses related to maintenance of shareholder accounts (included in Management and Administrative expenses), shareholder reporting, and proxies. Marketing and distribution expenses are allocated to each class of shares based on a method approved by the board of trustees. Income, other non-class-specific expenses, and gains and losses on investments are allocated to each class of shares based on its relative net assets.

B. The Vanguard Group furnishes at cost investment advisory, corporate management, administrative, marketing, and distribution services. The costs of such services are allocated to the fund under methods approved by the board of trustees. The fund has committed to provide up to 0.40% of its net assets in capital contributions to Vanguard. At December 31, 2009, the fund had contributed capital of $2,345,000 to Vanguard (included in Other Assets), representing 0.02% of the fund’s net assets and 0.94% of Vanguard’s capitalization. The fund’s trustees and officers are also directors and officers of Vanguard.

C. Various inputs may be used to determine the value of the fund’s investments. These inputs are summarized in three broad levels for financial statement purposes. The inputs or methodologies used to value securities are not necessarily an indication of the risk associated with investing in those securities.

Level 1—Quoted prices in active markets for identical securities.

Level 2—Other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).

Level 3—Significant unobservable inputs (including the fund’s own assumptions used to determine the fair value of investments).

The following table summarizes the fund’s investments as of December 31, 2009, based on the inputs used to value them:

  Level 1  Level 2  Level 3 
Investments  ($000)  ($000)  ($000) 
Common Stocks  12,402,212  —  11 
Convertible Preferred Stocks  492  —  — 
Temporary Cash Investments  271,944  6,993  — 
Futures Contracts—Assets1  29  —  — 
Futures Contracts—Liabilities1  (966)  —  — 
Total  12,673,711  6,993  11 
1 Represents variation margin on the last day of the reporting period.

30


Extended Market Index Fund

The following table summarizes changes in investments valued based on Level 3 inputs during the year ended December 31, 2009:

  Investments in 
  Common Stocks 
Amount Valued Based on Level 3 Inputs  ($000) 
Balance as of December 31, 2008  — 
Transfers into Level 3  11 
Balance as of December 31, 2009  11 

D. At December 31, 2009, the aggregate settlement value of open futures contracts and the related unrealized appreciation (depreciation) were:

      ($000) 
    Number of  Aggregate  Unrealized 
    Long (Short)  Settlement  Appreciation 
Futures Contracts  Expiration  Contracts  Value  (Depreciation) 
E-mini Russell 2000 Index  March 2010  1,571  98,015  1,443 
S&P MidCap 400 Index  March 2010  38  13,773  243 

Unrealized appreciation (depreciation) on open futures contracts is required to be treated as realized gain (loss) for tax purposes.

E. Distributions are determined on a tax basis and may differ from net investment income and realized capital gains for financial reporting purposes. Differences may be permanent or temporary. Permanent differences are reclassified among capital accounts in the financial statements to reflect their tax character. Temporary differences arise when certain items of income, expense, gain, or loss are recognized in different periods for financial statement and tax purposes; these differences will reverse at some time in the future. Differences in classification may also result from the treatment of short-term gains as ordinary income for tax purposes.

During the year ended December 31, 2009, the fund realized $419,698,000 of net capital gains resulting from in-kind redemptions—in which shareholders exchanged fund shares for securities held by the fund rather than for cash. Because such gains are not taxable to the fund, and are not distributed to shareholders, they have been reclassified from accumulated net realized losses to paid-in capital.

For tax purposes, at December 31, 2009, the fund had $1,967,000 of ordinary income available for distribution. The fund had available capital loss carryforwards totaling $1,660,045,000 to offset future net capital gains of $100,407,000 through December 31, 2011, $60,375,000 through December 31, 2014, $168,517,000 through December 31, 2015, $708,199,000 through December 31, 2016, and $622,547,000 through December 31, 2017.

At December 31, 2009, the cost of investment securities for tax purposes was $12,408,498,000. Net unrealized appreciation of investment securities for tax purposes was $273,154,000, consisting of unrealized gains of $2,315,814,000 on securities that had risen in value since their purchase and $2,042,660,000 in unrealized losses on securities that had fallen in value since their purchase.

F. During the year ended December 31, 2009, the fund purchased $2,857,826,000 of investment securities and sold $2,614,523,000 of investment securities, other than temporary cash investments.

31


Extended Market Index Fund

G. Capital share transactions for each class of shares were:

  Year Ended December 31, 
  2009  2008 
  Amount  Shares  Amount  Shares 
  ($000)  (000)  ($000)  (000) 
Investor Shares         
Issued  761,674  28,907  816,164  25,353 
Issued in Lieu of Cash Distributions  41,348  1,267  50,355  2,207 
Redeemed  (693,832)  (26,523)  (1,011,855)  (31,028) 
Net Increase (Decrease)—Investor Shares  109,190  3,651  (145,336)  (3,468) 
Admiral Shares         
Issued  273,049  10,067  405,123  13,178 
Issued in Lieu of Cash Distributions  22,579  699  27,416  1,202 
Redeemed  (285,715)  (11,344)  (415,509)  (13,844) 
Net Increase (Decrease)—Admiral Shares  9,913  (578)  17,030  536 
Signal Shares         
Issued  402,911  17,572  497,458  18,247 
Issued in Lieu of Cash Distributions  17,903  645  23,189  1,184 
Redeemed  (433,580)  (18,677)  (548,150)  (20,434) 
Net Increase (Decrease)—Signal Shares  (12,766)  (460)  (27,503)  (1,003) 
Institutional Shares         
Issued  1,058,868  41,224  1,258,019  41,148 
Issued in Lieu of Cash Distributions  38,283  1,185  43,456  1,909 
Redeemed  (995,321)  (37,183)  (677,478)  (20,908) 
Net Increase (Decrease)—Institutional Shares  101,830  5,226  623,997  22,149 
ETF Shares         
Issued  936,493  31,036  1,742,565  40,4701 
Issued in Lieu of Cash Distributions  —  —  —  — 
Redeemed  (866,266)  (28,200)  (1,552,037)  (35,800)1 
Net Increase (Decrease)—ETF Shares  70,227  2,836  190,528  4,6701 
1 Shares adjusted to reflect a 2-for-1 split as of the close of business on June 13, 2008.

H. In preparing the financial statements as of December 31, 2009, management considered the
impact of subsequent events occurring through February 12, 2010, for potential recognition or
disclosure in these financial statements.

32


Mid-Cap Index Fund

Fund Profile
As of December 31, 2009

Share-Class Characteristics           
  Investor  Admiral  Signal  Institutional  ETF 
  Shares  Shares  Shares  Shares  Shares 
Ticker Symbol  VIMSX  VIMAX  VMISX  VMCIX  VO 
Expense Ratio1  0.27%  0.15%  0.15%  0.09%  0.15% 
30-Day SEC Yield  1.04%  1.19%  1.19%  1.23%  1.18% 

Portfolio Characteristics     
    MSCI US  DJ 
    Mid Cap  U.S. Total 
    450  Market 
  Fund  Index  Index 
Number of Stocks  458  456  4,201 
Median Market Cap  $4.7B  $4.7B  $30.7B 
Price/Earnings Ratio 130.1x  129.3x  35.7x 
Price/Book Ratio  2.0x  2.0x  2.1x 
Return on Equity  15.2%  15.2%  19.3% 
Earnings Growth Rate  9.6%  9.6%  8.1% 
Dividend Yield  1.3%  1.3%  1.8% 
Foreign Holdings  0.0%  0.0%  0.0% 
Turnover Rate  21%  —  — 
Short-Term Reserves  0.2%  —  — 

Volatility Measures     
    DJ 
  MSCI US  U.S. Total 
  Mid Cap 450  Market 
  Index  Index 
R-Squared  1.00  0.95 
Beta  1.00  1.16 

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) 
Intuitive Surgical Inc.  Health Care   
  Equipment  0.6% 
Marvell Technology  Semiconductors   
Group Ltd.    0.6 
Cameron International  Oil & Gas   
Corp.  Equipment &   
  Services  0.6 
Western Digital Corp.  Computer Storage   
  & Peripherals  0.5 
Life Technologies Corp.  Biotechnology  0.5 
Seagate Technology  Computer Storage   
  & Peripherals  0.5 
Consol Energy Inc.  Coal & Consumable   
  Fuels  0.5 
Micron Technology Inc.  Semiconductors  0.5 
Hartford Financial  Multi-line Insurance   
Services Group Inc.    0.5 
Mead Johnson Nutrition  Personal Products   
Co. Class A    0.5 
Top Ten    5.3% 

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

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 0.27% for
Investor Shares, 0.14% for Admiral Shares, 0.14% for Signal Shares, 0.08% for Institutional Shares, and 0.14% for ETF Shares.

33

 

Mid-Cap Index Fund

Sector Diversification (% of equity exposure)

    MSCI US  DJ 
    Mid Cap  U.S. Total 
    450  Market 
  Fund  Index  Index 
Consumer       
Discretionary  14.6%  14.8%  10.3% 
Consumer Staples  4.6  4.6  9.9 
Energy  8.1  8.1  10.6 
Financials  17.5  17.2  16.0 
Health Care  11.0  11.0  12.6 
Industrials  12.4  12.4  10.6 
Information       
Technology  16.9  16.9  19.3 
Materials  6.9  6.9  4.0 
Telecommunication       
Services  1.3  1.4  2.9 
Utilities  6.7  6.7  3.8 

Investment Focus


34


Mid-Cap 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 
  Mid-Cap Index Fund Investor Shares  40.22%  2.28%  6.13%  $18,132 
••••••••  Dow Jones U.S. Total Stock Market         
  Index  29.35  1.09  -0.17  9,828 
 
 
------ Spliced Mid-Cap Index 36.21 1.71 3.72 14,406
Mid-Cap Core Funds Average  40.49  2.39  6.13  18,123 

Spliced Mid-Cap Index: S&P MidCap 400 Index through May 16, 2003; MSCI US Mid Cap 450 Index thereafter.
Mid-Cap Core Funds Average: Derived from data provided by Lipper Inc.

      Since  Final Value 
  One  Five  Inception  of a $100,000 
  Year  Years  (11/12/2001)  Investment 
Mid-Cap Index Fund Admiral Shares  40.48%  2.40%  6.59%  $168,052 
Dow Jones U.S. Total Stock Market         
Index  29.35  1.09  3.20  129,182 
Spliced Mid-Cap Index  40.49  2.39  6.56  167,657 

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.

35


Mid-Cap Index Fund

    Since  Final Value 
  One  Inception  of a $1,000,000 
  Year  (3/30/2007)  Investment 
Mid-Cap Index Fund Signal Shares  40.43%  -6.54%  $829,880 
Dow Jones U.S. Total Stock Market       
Index  29.35  -5.95  844,479 
MSCI US Mid Cap 450 Index  40.49  -6.54  829,982 

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

        Final Value 
  One  Five  Ten  of a $5,000,000 
  Year  Years  Years  Investment 
Mid-Cap Index Fund Institutional         
Shares  40.51%  2.45%  6.30%  $9,211,451 
Dow Jones U.S. Total Stock Market         
Index  29.35  1.09  -0.17  4,913,789 
Spliced Mid-Cap Index  40.49  2.39  6.13  9,061,572 

      Since  Final Value 
  One  Five  Inception  of a $10,000 
  Year  Years  (1/26/2004)  Investment 
Mid-Cap Index Fund         
ETF Shares Net Asset Value  40.49%  2.39%  4.47%  $12,959 
Dow Jones U.S. Total Stock Market Index  29.35  1.09  2.20  11,376 
MSCI US Mid Cap 450 Index  40.49  2.39  4.49  12,973 

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

For more information about how the ETF Shares' market prices have compared with their net asset value, visit www.vanguard.com, select your ETF, and then select the Performance tab. The Premium/Discount table there shows the percentages of days on which the ETF Shares' market price was above or below the NAV.

Cumulative Returns of ETF Shares: January 26, 2004, Through December 31, 2009

  One  Five  Since 
  Year  Years  Inception 
Mid-Cap Index Fund       
ETF Shares Market Price  40.68%  12.62%  29.68% 
Mid-Cap Index Fund       
ETF Shares Net Asset Value  40.49  12.53  29.59 
MSCI US Mid Cap 450 Index  40.49  12.53  29.73 

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

36


Mid-Cap Index Fund

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.

37


Mid-Cap 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 (99.9%)1     
Consumer Discretionary (14.6%)   
*  priceline.com Inc.  426,890  93,275 
  H&R Block Inc.  3,562,436  80,582 
  Mattel Inc.  3,826,517  76,454 
  Starwood Hotels &     
  Resorts Worldwide Inc.  1,986,023  72,629 
  Cablevision Systems Corp.     
  Class A  2,619,665  67,640 
*  Liberty Media Corp. -     
  Interactive  6,022,661  65,286 
  Nordstrom Inc.  1,725,235  64,834 
  Genuine Parts Co.  1,695,327  64,355 
  Whirlpool Corp.  786,530  63,442 
  Harley-Davidson Inc.  2,493,511  62,837 
  International     
  Game Technology  3,149,615  59,118 
  Ross Stores Inc.  1,345,619  57,471 
*  CarMax Inc.  2,340,592  56,759 
  Tiffany & Co.  1,318,914  56,713 
  Ltd Brands Inc.  2,905,505  55,902 
*  O’Reilly Automotive Inc.  1,452,866  55,383 
*  Expedia Inc.  2,095,671  53,880 
  Virgin Media Inc.  2,971,388  50,008 
  Darden Restaurants Inc.  1,408,918  49,411 
  Polo Ralph Lauren Corp.     
  Class A  603,573  48,877 
*  Urban Outfitters Inc.  1,340,273  46,896 
*  Dollar Tree Inc.  950,086  45,889 
  Wynn Resorts Ltd.  784,760  45,697 
  Newell Rubbermaid Inc.  2,950,452  44,286 
*  Discovery     
  Communications Inc.     
  Class A  1,430,577  43,876 
  Hasbro Inc.  1,337,673  42,886 
  Black & Decker Corp.  639,219  41,441 
  BorgWarner Inc.  1,239,343  41,171 
  Advance Auto Parts Inc.  1,014,124  41,052 
  Scripps Networks     
  Interactive Inc. Class A  958,080  39,760 
*  Discovery     
  Communications Inc.  1,495,261  39,654 
  Family Dollar Stores Inc.  1,410,307  39,249 
  Autoliv Inc.  904,030  39,199 
  DeVry Inc.  680,457  38,602 
*  ITT Educational     
  Services Inc.  400,611  38,443 
  Wyndham Worldwide Corp.  1,897,848 38,280 
*  Interpublic Group     
  of Cos. Inc.  5,167,377  38,135 
*  Royal Caribbean     
  Cruises Ltd.  1,476,618  37,329 
  Gannett Co. Inc.  2,494,101  37,037 
*  GameStop Corp. Class A  1,661,929  36,463 
  Pulte Homes Inc.  3,643,308  36,433 
  PetSmart Inc.  1,328,973  35,470 
*  NVR Inc.  49,409  35,115 
*  Goodyear Tire &     
  Rubber Co.  2,441,509  34,425 
  American Eagle     
  Outfitters Inc.  1,977,351  33,575 
  DR Horton Inc.  3,033,693  32,976 
  Abercrombie & Fitch Co.  933,576  32,535 
  Leggett & Platt Inc.  1,575,896  32,148 
^  Strayer Education Inc.  148,749  31,608 
*  Chipotle Mexican Grill Inc.     
  Class A  336,506  29,666 
*  Mohawk Industries Inc.  618,185  29,426 
*,^  NetFlix Inc.  518,901  28,612 
  Washington Post Co.     
  Class B  64,655  28,422 
*  Toll Brothers Inc.  1,455,694  27,382 
*  LKQ Corp.  1,345,906  26,366 
*  MGM Mirage  2,812,173  25,647 
  Guess? Inc.  587,003  24,830 
  Harman International     
  Industries Inc.  699,793  24,689 
*  Liberty Media Corp. - Starz  525,835  24,267 
*  Lamar Advertising Co.     
  Class A  773,396  24,045 
*  AutoNation Inc.  1,230,312  23,560 

38


Mid-Cap Index Fund

      Market 
      Value • 
    Shares  ($000) 
  Wendy’s/Arby’s Group Inc.     
  Class A  4,255,585  19,959 
*  Penn National Gaming Inc.  710,468  19,311 
  Burger King Holdings Inc.  1,003,162  18,880 
  Lennar Corp. Class A  1,468,310  18,750 
  Foot Locker Inc.  1,655,811  18,446 
  WABCO Holdings Inc.  680,749  17,557 
  Brinker International Inc.  1,085,636  16,198 
*  Hyatt Hotels Corp. Class A  404,197  12,049 
  Weight Watchers     
  International Inc.  368,968  10,759 
*  Clear Channel Outdoor     
  Holdings Inc. Class A  434,723  4,517 
  Lennar Corp. Class B  63,528  625 
*  Marvel Entertainment Inc.  334  18 
*  Krispy Kreme     
  Doughnuts Inc. Warrants     
  Exp. 03/02/20  8,389  1 
      2,848,468 
Consumer Staples (4.6%)     
  Mead Johnson Nutrition Co.     
  Class A  2,172,828  94,953 
  Bunge Ltd.  1,408,865  89,928 
  JM Smucker Co.  1,263,606  78,028 
  Dr Pepper Snapple     
  Group Inc.  2,699,451  76,394 
  Estee Lauder Cos. Inc.     
  Class A  1,197,963  57,933 
  McCormick & Co. Inc.  1,257,183  45,422 
  Church & Dwight Co. Inc.  746,920  45,151 
*  Energizer Holdings Inc.  700,455  42,924 
*  Whole Foods Market Inc.  1,492,494  40,969 
  Tyson Foods Inc. Class A  3,098,987  38,025 
*  Ralcorp Holdings Inc.  601,725  35,929 
*  Dean Foods Co.  1,916,437  34,573 
*  Constellation Brands Inc.     
  Class A  2,095,121  33,375 
*  Hansen Natural Corp.  818,408  31,427 
  Hormel Foods Corp.  784,566  30,167 
  SUPERVALU Inc.  2,252,219  28,626 
  Alberto-Culver Co. Class B  939,133  27,507 
*  Smithfield Foods Inc.  1,580,939  24,014 
  Flowers Foods Inc.  880,854  20,929 
  PepsiAmericas Inc.  662,448  19,383 
      895,657 
Energy (8.1%)     
*  Cameron     
  International Corp.  2,598,146  108,603 
  Consol Energy Inc.  1,919,885  95,610 
  Range Resources Corp.  1,670,839  83,291 
*  Petrohawk Energy Corp.  3,196,817  76,692 
*  FMC Technologies Inc.  1,301,606  75,285 
  El Paso Corp.  7,450,241  73,236 
*  Newfield Exploration Co.  1,409,406  67,976 
*  Nabors Industries Ltd.  3,019,392  66,094 
*  Pride International Inc.  1,845,601  58,893 
  Pioneer Natural     
  Resources Co.  1,222,554  58,890 
  BJ Services Co.  3,105,332  57,759 
*  Alpha Natural     
  Resources Inc.  1,273,006  55,223 
  Cabot Oil & Gas Corp.  1,101,728  48,024 
  Cimarex Energy Co.  886,398  46,953 
  Helmerich & Payne Inc.  1,120,403  44,682 
*  Kinder Morgan     
  Management LLC  800,135  43,719 
  EXCO Resources Inc.  1,907,832  40,503 
*  Plains Exploration &     
  Production Co.  1,455,591  40,262 
*  Denbury Resources Inc.  2,651,509  39,242 
  Arch Coal Inc.  1,726,190  38,408 
  Massey Energy Co.  908,241  38,155 
*  Oceaneering     
  International Inc.  583,470  34,145 
  Sunoco Inc.  1,242,600  32,432 
*  Concho Resources Inc.  681,470  30,598 
*  Dresser-Rand Group Inc.  875,729  27,682 
*  Rowan Cos. Inc.  1,208,515  27,361 
  Tidewater Inc.  549,701  26,358 
*  Forest Oil Corp.  1,133,657  25,224 
  Patterson-UTI Energy Inc.  1,633,081  25,068 
  Tesoro Corp.  1,483,623  20,103 
*  Quicksilver Resources Inc.  1,260,370 18,918 
*  Continental Resources Inc.  360,657  15,469 
*  SandRidge Energy Inc.  1,637,331  15,440 
*  CNX Gas Corp.  321,553  9,492 
*  Cobalt International     
  Energy Inc.  576,234  7,975 
      1,573,765 
Financials (17.4%)     
  Hartford Financial Services     
  Group Inc.  4,084,847  95,014 
  HCP Inc.  3,089,470  94,352 
  Discover     
  Financial Services  5,709,842  83,992 
  Lincoln National Corp.  3,209,726  79,858 
  Fifth Third Bancorp  8,031,637  78,308 
  Host Hotels &     
  Resorts Inc.  6,599,878  77,021 
*  IntercontinentalExchange     
  Inc.  660,731  74,200 
  Ventas Inc.  1,663,201  72,748 
  AvalonBay     
  Communities Inc.  849,251  69,732 
  Unum Group  3,521,289  68,736 
  Regions Financial Corp.  12,628,389 66,804 
  XL Capital Ltd. Class A  3,635,594  66,640 
  Plum Creek     
  Timber Co. Inc.  1,729,877  65,320 
  ProLogis  4,704,662  64,407 
  New York Community     
  Bancorp Inc.  4,271,541  61,980 

39


Mid-Cap Index Fund

      Market 
      Value • 
    Shares  ($000) 
  People’s United     
  Financial Inc.  3,703,243  61,844 
*  Genworth Financial Inc.     
  Class A  5,116,636  58,074 
  Kimco Realty Corp.  4,268,550  57,754 
  Health Care REIT Inc.  1,272,562  56,400 
*  SLM Corp.  4,968,303  55,993 
  Everest Re Group Ltd.  646,607  55,401 
  PartnerRe Ltd.  713,269  53,253 
  KeyCorp  9,334,472  51,806 
  Comerica Inc.  1,605,550  47,476 
  Willis Group Holdings Ltd.  1,786,123  47,118 
  Legg Mason Inc.  1,515,753  45,715 
  Federal Realty     
  Investment Trust  647,136  43,824 
  Cincinnati Financial Corp.  1,641,575  43,075 
  SL Green Realty Corp.  816,341  41,013 
  Axis Capital Holdings Ltd.  1,436,994  40,825 
  Nationwide Health     
  Properties Inc.  1,140,175  40,111 
  AMB Property Corp.  1,553,791  39,699 
  Digital Realty Trust Inc.  768,536  38,642 
  Torchmark Corp.  878,956  38,630 
*,^  American International     
  Group Inc.  1,286,831  38,579 
  Liberty Property Trust  1,186,179  37,970 
  WR Berkley Corp.  1,530,971  37,723 
  Assurant Inc.  1,252,874  36,935 
  Reinsurance Group of     
  America Inc. Class A  773,152  36,841 
  Macerich Co.  1,003,364  36,071 
  Eaton Vance Corp.  1,178,083  35,826 
  Rayonier Inc.  841,231  35,466 
  RenaissanceRe     
  Holdings Ltd.  662,076  35,189 
*  CB Richard Ellis Group Inc.     
  Class A  2,582,105  35,039 
*  Markel Corp.  99,062  33,681 
  HCC Insurance     
  Holdings Inc.  1,193,078  33,370 
  Regency Centers Corp.  938,295  32,897 
*  Arch Capital Group Ltd.  454,082  32,490 
  First American Corp.  961,851  31,847 
*  First Horizon National Corp. 2,357,595  31,592 
  Fidelity National     
  Financial Inc. Class A  2,328,998  31,348 
  Transatlantic Holdings Inc.  599,619  31,246 
  Hospitality Properties Trust 1,297,555  30,765 
*  NASDAQ OMX Group Inc.  1,508,552  29,900 
*  Affiliated Managers     
  Group Inc.  443,249  29,853 
  Commerce Bancshares Inc. 749,115  29,006 
  Duke Realty Corp.  2,379,585  28,960 
^  Realty Income Corp.  1,107,881  28,705 
  Cullen/Frost Bankers Inc.  570,962  28,548 
*,^  St Joe Co.  983,076  28,401 
  White Mountains Insurance   
  Group Ltd.  84,757  28,195 
  Marshall & Ilsley Corp.  5,090,103  27,741 
  Federated Investors Inc.     
  Class B  983,597  27,049 
  Validus Holdings Ltd.  994,110  26,781 
  UDR Inc.  1,600,619  26,314 
  Huntington Bancshares Inc.  7,201,176 26,284 
*  Jefferies Group Inc.  1,100,642  26,118 
  Janus Capital Group Inc.  1,936,138  26,041 
  Old Republic     
  International Corp.  2,557,629  25,679 
  Raymond James     
  Financial Inc.  1,048,044  24,912 
  SEI Investments Co.  1,421,712  24,908 
  Weingarten     
  Realty Investors  1,209,019  23,927 
  Brown & Brown Inc.  1,278,870  22,981 
  City National Corp.  464,790  21,194 
  American Financial     
  Group Inc.  802,729  20,028 
  Greenhill & Co. Inc.  240,001  19,258 
  TCF Financial Corp.  1,228,709  16,735 
  Zions Bancorporation  1,277,436  16,390 
  Associated Banc-Corp  1,290,489  14,208 
  BOK Financial Corp.  288,224  13,696 
  TFS Financial Corp.  985,709  11,967 
  Mercury General Corp.  291,619  11,449 
  Capitol Federal Financial  236,297  7,434 
      3,383,302 
Health Care (11.0%)     
*  Intuitive Surgical Inc.  403,432  122,369 
*  Life Technologies Corp.  1,873,530  97,854 
*  Vertex     
  Pharmaceuticals Inc.  2,044,243  87,596 
*  Hospira Inc.  1,712,387  87,332 
  AmerisourceBergen Corp.     
  Class A  3,158,317  82,337 
*  Humana Inc.  1,802,612  79,117 
*  DaVita Inc.  1,104,914  64,903 
*  Waters Corp.  1,014,871  62,881 
*  Varian Medical     
  Systems Inc.  1,334,004  62,498 
*  Cerner Corp.  731,835  60,333 
*  Mylan Inc.  3,244,218  59,791 
  DENTSPLY     
  International Inc.  1,500,480  52,772 
*  Edwards Lifesciences Corp.  599,361  52,055 
*  Henry Schein Inc.  958,713  50,428 
*  Cephalon Inc.  793,081  49,496 
*  CareFusion Corp.  1,915,710  47,912 
  Beckman Coulter Inc.  728,288  47,659 
*  Alexion     
  Pharmaceuticals Inc.  934,412  45,618 
*  Millipore Corp.  590,335  42,711 

40


Mid-Cap Index Fund

      Market 
      Value • 
    Shares  ($000) 
*  Watson     
  Pharmaceuticals Inc.  1,067,161  42,270 
*  ResMed Inc.  802,964  41,971 
  IMS Health Inc.  1,938,425  40,823 
*  Illumina Inc.  1,318,946  40,426 
*  Hologic Inc.  2,726,599  39,536 
*  Coventry Health Care Inc.  1,589,192  38,601 
*  Mettler-Toledo     
  International Inc.  358,107  37,598 
*  Covance Inc.  679,700  37,091 
*  Dendreon Corp.  1,391,886  36,579 
*  Community Health     
  Systems Inc.  985,217  35,074 
*  Warner Chilcott PLC     
  Class A  1,202,132  34,225 
*  Inverness Medical     
  Innovations Inc.  811,891  33,702 
*  IDEXX Laboratories Inc.  622,921  33,289 
  Perrigo Co.  833,188  33,194 
*  King Pharmaceuticals Inc.  2,636,300  32,347 
  Omnicare Inc.  1,268,090  30,662 
  Universal Health     
  Services Inc. Class B  965,358  29,443 
*  Patterson Cos. Inc.  975,309  27,289 
*  Lincare Holdings Inc.  721,495  26,782 
*  Myriad Genetics Inc.  1,019,020  26,596 
  Pharmaceutical Product     
  Development Inc.  1,129,747  26,481 
  Techne Corp.  376,179  25,791 
*  Health Net Inc.  1,104,120  25,715 
*  Endo Pharmaceuticals     
  Holdings Inc.  1,245,886  25,553 
*  Charles River Laboratories     
  International Inc.  700,843  23,611 
*  Gen-Probe Inc.  534,753  22,941 
*  Kinetic Concepts Inc.  566,158  21,316 
*  Amylin     
  Pharmaceuticals Inc.  1,499,826  21,283 
*  Abraxis Bioscience Inc.  85,855  3,481 
      2,149,332 
Industrials (12.4%)     
*  Delta Air Lines Inc.  8,266,483  94,073 
  Rockwell Collins Inc.  1,675,833  92,774 
  Goodrich Corp.  1,317,327  84,638 
  Dover Corp.  1,977,652  82,290 
  Cooper Industries PLC  1,771,535  75,538 
  Rockwell Automation Inc.  1,509,003  70,893 
  WW Grainger Inc.  664,899  64,382 
  Fastenal Co.  1,420,261  59,140 
*  McDermott     
  International Inc.  2,442,752  58,650 
  Flowserve Corp.  594,176  56,167 
  Joy Global Inc.  1,086,200  56,037 
  Textron Inc.  2,871,216  54,008 
  Masco Corp.  3,823,867  52,808 
  Roper Industries Inc.  965,474  50,562 
  Pitney Bowes Inc.  2,200,853  50,091 
*  Jacobs Engineering     
  Group Inc.  1,316,528  49,515 
  RR Donnelley & Sons Co.  2,182,368  48,601 
*  Stericycle Inc.  858,457  47,361 
  Dun & Bradstreet Corp.  560,599  47,298 
  Manpower Inc.  832,760  45,452 
  Pall Corp.  1,253,278  45,369 
  Bucyrus International Inc.     
  Class A  798,182  44,994 
*  Iron Mountain Inc.  1,940,933  44,176 
*  Quanta Services Inc.  2,100,209  43,768 
  AMETEK Inc.  1,142,678  43,696 
  Equifax Inc.  1,342,647  41,474 
  Robert Half     
  International Inc.  1,532,880  40,974 
*  URS Corp.  895,774  39,880 
*  Foster Wheeler AG  1,343,548  39,554 
  Avery Dennison Corp.  1,078,092  39,340 
  Stanley Works  758,772  39,084 
  Cintas Corp.  1,460,938  38,057 
*  Kansas City Southern  1,020,449  33,971 
  Donaldson Co. Inc.  779,587  33,164 
  KBR Inc.  1,704,237  32,381 
  Pentair Inc.  992,286  32,051 
*  AGCO Corp.  982,242  31,766 
*  Alliant Techsystems Inc.  350,057  30,900 
  JB Hunt Transport     
  Services Inc.  943,383  30,443 
*  IHS Inc. Class A  537,007  29,433 
*  Verisk Analytics Inc.     
  Class A  961,572  29,116 
  SPX Corp.  521,477  28,525 
*  Copart Inc.  760,206  27,846 
  Harsco Corp.  853,301  27,502 
*  AMR Corp.  3,493,555  27,005 
*  Navistar International Corp.  672,818  26,004 
*  FTI Consulting Inc.  549,960  25,936 
*  Aecom Technology Corp.  938,268  25,802 
*  Shaw Group Inc.  888,461  25,543 
  Ryder System Inc.  594,863  24,491 
*  Covanta Holding Corp.  1,318,584  23,853 
*  Hertz Global Holdings Inc.  1,959,057  23,352 
*  Terex Corp.  1,147,432  22,731 
*  Spirit Aerosystems     
  Holdings Inc. Class A  1,113,073  22,106 
  MSC Industrial Direct Co.     
  Class A  469,638  22,073 
*  Owens Corning  815,073  20,898 
*,^  SunPower Corp. Class A  581,600  13,772 
*  SunPower Corp. Class B  447,593  9,377 
      2,420,685 
Information Technology (16.9%)   
*  Marvell Technology     
  Group Ltd.  5,593,102  116,057 
*  Western Digital Corp.  2,388,447  105,450 

41


Mid-Cap Index Fund

      Market 
      Value • 
    Shares  ($000) 
  Seagate Technology  5,264,304  95,758 
*  Micron Technology Inc.  8,999,100  95,031 
*  Computer Sciences Corp.  1,612,563  92,771 
*  Salesforce.com Inc.  1,185,681  87,468 
  Amphenol Corp. Class A  1,821,746  84,128 
*  Citrix Systems Inc.  1,945,593  80,956 
*  Fiserv Inc.  1,641,082  79,560 
*  BMC Software Inc.  1,955,843  78,429 
  Xilinx Inc.  2,934,078  73,528 
  Linear Technology Corp.  2,362,966  72,165 
  Altera Corp.  3,127,209  70,769 
*  SanDisk Corp.  2,412,430  69,936 
*  McAfee Inc.  1,670,234  67,761 
  Harris Corp.  1,406,734  66,890 
  Maxim Integrated     
  Products Inc.  3,253,610  66,048 
  KLA-Tencor Corp.  1,813,329  65,570 
*  Flextronics     
  International Ltd.  8,621,406  63,023 
*  Autodesk Inc.  2,440,867  62,022 
*  Red Hat Inc.  1,998,497  61,754 
*  Advanced Micro     
  Devices Inc.  6,029,385  58,364 
*  Cree Inc.  1,025,559  57,811 
*  Affiliated Computer     
  Services Inc. Class A  967,406  57,744 
*  Teradata Corp.  1,825,280  57,369 
  Microchip Technology Inc.  1,944,812  56,516 
*  Lam Research Corp.  1,345,449  52,755 
*  FLIR Systems Inc.  1,610,284  52,689 
*  VeriSign Inc.  2,049,209  49,673 
*  Avnet Inc.  1,605,197  48,413 
*  Akamai Technologies Inc.  1,832,595  46,420 
  Global Payments Inc.  856,916  46,154 
*  F5 Networks Inc.  836,432  44,314 
*  Equinix Inc.  410,211  43,544 
*  LSI Corp.  6,926,454  41,628 
  Lender Processing     
  Services Inc.  1,021,347  41,528 
*  SAIC Inc.  2,166,075  41,025 
*  ANSYS Inc.  935,832  40,671 
  National     
  Semiconductor Corp.  2,512,559  38,593 
*  Arrow Electronics Inc.  1,270,985  37,634 
*  Hewitt Associates Inc.     
  Class A  890,067  37,614 
*  ON Semiconductor Corp.  4,260,408  37,534 
*  Sybase Inc.  859,879  37,319 
*  Alliance Data     
  Systems Corp.  564,826  36,482 
*  Synopsys Inc.  1,533,817  34,173 
  Jabil Circuit Inc.  1,929,709  33,519 
  Broadridge Financial     
  Solutions Inc.  1,479,934  33,387 
*  Nuance     
  Communications Inc.  2,144,847  33,331 
*  MEMC Electronic     
  Materials Inc.  2,375,126  32,349 
*  Brocade Communications     
  Systems Inc.  4,231,911  32,290 
*  Trimble Navigation Ltd.  1,272,901  32,077 
  Factset Research     
  Systems Inc.  475,829  31,343 
  Total System Services Inc.  1,781,321  30,763 
*  Ingram Micro Inc.  1,558,869  27,202 
*  Dolby Laboratories Inc.     
  Class A  563,834  26,912 
*  AOL Inc.  1,145,892  26,676 
*  Novellus Systems Inc.  1,037,219  24,209 
*  Tellabs Inc.  4,002,496  22,734 
*  Lexmark International Inc.     
  Class A  829,574  21,552 
*  IAC/InterActiveCorp  1,017,083  20,830 
  Intersil Corp. Class A  1,301,621  19,967 
*  NCR Corp.  1,689,314  18,802 
*  DST Systems Inc.  423,313  18,435 
  Molex Inc.  800,680  17,255 
*  Cadence Design     
  Systems Inc.  2,831,467  16,961 
  Molex Inc. Class A  644,769  12,334 
*  Avago Technologies Ltd.  500,124  9,147 
      3,293,116 
Materials (6.9%)     
  United States Steel Corp.  1,523,597  83,981 
  Vulcan Materials Co.  1,328,012  69,946 
  Sigma-Aldrich Corp.  1,294,864  65,429 
  Cliffs Natural     
  Resources Inc.  1,391,803  64,148 
*  Owens-Illinois Inc.  1,789,011  58,805 
  Lubrizol Corp.  718,545  52,418 
  MeadWestvaco Corp.  1,818,166  52,054 
  Ball Corp.  949,972  49,114 
  Celanese Corp. Class A  1,525,454  48,967 
  Eastman Chemical Co.  771,997  46,505 
  CF Industries Holdings Inc.  489,131  44,403 
*  Crown Holdings Inc.  1,702,191  43,542 
  Walter Energy Inc.  561,911  42,318 
  Martin Marietta     
  Materials Inc.  473,259  42,314 
  Allegheny Technologies Inc.  937,746  41,983 
  FMC Corp.  731,638  40,796 
  Nalco Holding Co.  1,468,283  37,456 
  Airgas Inc.  782,685  37,256 
  Sealed Air Corp.  1,687,808  36,896 
  Steel Dynamics Inc.  2,058,488  36,476 
  International Flavors     
  & Fragrances Inc.  839,722  34,546 
  Terra Industries Inc.  1,060,156  34,126 
  Bemis Co. Inc.  1,147,514  34,024 
*  Pactiv Corp.  1,402,800  33,864 
  Sonoco Products Co.  1,061,289  31,043 

42


Mid-Cap Index Fund

      Market 
      Value • 
    Shares  ($000) 
  Reliance Steel &     
  Aluminum Co.  702,568  30,365 
  Albemarle Corp.  778,557  28,316 
  Valspar Corp.  1,015,195  27,552 
  AK Steel Holding Corp.  1,163,006  24,830 
  Scotts Miracle-Gro Co.     
  Class A  489,776  19,253 
  Commercial Metals Co.  1,196,393  18,724 
*  Titanium Metals Corp.  1,246,897  15,611 
  Greif Inc. Class A  259,393  14,002 
      1,341,063 
Telecommunication Services (1.3%)   
*  NII Holdings Inc.  1,765,027  59,270 
  Windstream Corp.  4,641,562  51,011 
*  SBA     
  Communications Corp.     
  Class A  1,115,541  38,107 
*  Level 3     
  Communications Inc.  17,366,696  26,571 
  Frontier     
  Communications Corp.  3,320,665  25,934 
*  MetroPCS     
  Communications Inc.  2,620,645  19,996 
  Telephone & Data     
  Systems Inc.  516,548  17,521 
  Telephone & Data     
  Systems Inc. - Special     
  Common Shares  519,452  15,687 
*  United States Cellular Corp. 200,686  8,511 
      262,608 
Utilities (6.7%)     
  Questar Corp.  1,851,149  76,952 
  DTE Energy Co.  1,747,501  76,174 
*  NRG Energy Inc.  2,819,944  66,579 
  Wisconsin Energy Corp.  1,242,135  61,896 
  EQT Corp.  1,321,335  58,033 
  CenterPoint Energy Inc.  3,902,898  56,631 
  Northeast Utilities  1,863,301  48,054 
  Oneok Inc.  1,063,717  47,410 
  SCANA Corp.  1,237,240  46,619 
  NiSource Inc.  2,926,904  45,016 
  MDU Resources     
  Group Inc.  1,857,945  43,847 
  Allegheny Energy Inc.  1,800,668  42,280 
  NSTAR  1,134,763  41,759 
  American Water     
  Works Co. Inc.  1,856,007  41,593 
*  Calpine Corp.  3,760,089  41,361 
  Pepco Holdings Inc.  2,346,109  39,532 
  Pinnacle West     
  Capital Corp.  1,075,553  39,344 
  National Fuel Gas Co.  767,267  38,363 
  CMS Energy Corp.  2,432,200  38,088 
  OGE Energy Corp.  1,025,999  37,849 
  Alliant Energy Corp.  1,175,344  35,566 
  TECO Energy Inc.  2,158,490  35,011 
  Integrys Energy Group Inc.  811,977  34,095 
  DPL Inc.  1,232,888  34,028 
  Energen Corp.  723,866  33,877 
  NV Energy Inc.  2,493,973  30,875 
  UGI Corp.  1,152,460  27,878 
  Aqua America Inc.  1,444,935  25,301 
*  Mirant Corp.  1,542,744  23,558 
*  RRI Energy Inc.  3,736,257  21,371 
*  Dynegy Inc. Class A  5,377,844  9,734 
      1,298,674 
Total Common Stocks     
(Cost $18,689,706)    19,466,670 
Temporary Cash Investments (0.7%)1   
Money Market Fund (0.7%)     
2,3  Vanguard Market     
  Liquidity Fund, 0.187%  131,935,023 131,935 
 
    Face   
    Amount   
    ($000)   
U.S. Government and Agency Obligations (0.0%) 
4,5  Freddie Mac     
  Discount Notes,     
  0.230%, 6/21/10  2,000  1,998 
Total Temporary Cash Investments   
(Cost $133,933)    133,933 
Total Investments (100.6%)     
(Cost $18,823,639)    19,600,603 
Other Assets and Liabilities (-0.6%)   
Other Assets    115,422 
Liabilities3    (229,797) 
      (114,375) 
Net Assets (100%)    19,486,228 
 
 
At December 31, 2009, net assets consisted of: 
      Amount 
      ($000) 
Paid-in Capital    22,115,283 
Overdistributed Net Investment Income  (23,795) 
Accumulated Net Realized Losses  (3,382,606) 
Unrealized Appreciation (Depreciation)   
Investment Securities    776,964 
Futures Contracts    382 
Net Assets    19,486,228 

43


Mid-Cap Index Fund

  Amount 
  ($000) 
Investor Shares—Net Assets   
Applicable to 414,847,351 outstanding   
$.001 par value shares of beneficial   
interest (unlimited authorization)  6,788,771 
Net Asset Value Per Share—   
Investor Shares  $16.36 
 
 
Admiral Shares—Net Assets   
Applicable to 29,422,769 outstanding   
$.001 par value shares of beneficial   
interest (unlimited authorization)  2,184,140 
Net Asset Value Per Share—   
Admiral Shares  $74.23 
 
 
Signal Shares—Net Assets   
Applicable to 100,123,638 outstanding   
$.001 par value shares of beneficial   
interest (unlimited authorization)  2,346,297 
Net Asset Value Per Share—   
Signal Shares  $23.43 

  Amount 
  ($000) 
Institutional Shares—Net Assets   
Applicable to 363,350,173 outstanding   
$.001 par value shares of beneficial   
interest (unlimited authorization)  5,960,126 
Net Asset Value Per Share—   
Institutional Shares  $16.40 
 
 
ETF Shares—Net Assets   
Applicable to 36,800,877 outstanding   
$.001 par value shares of beneficial   
interest (unlimited authorization)  2,206,894 
Net Asset Value Per Share—   
ETF Shares  $59.97 

• 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 $78,780,000.
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 0.6%, 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 $82,929,000 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 $1,998,000 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.
44


Mid-Cap Index Fund

Statement of Operations

  Year Ended 
  December 31, 2009 
  ($000) 
Investment Income   
Income   
Dividends  235,232 
Interest1  121 
Security Lending  6,351 
Total Income  241,704 
Expenses   
The Vanguard Group—Note B   
Investment Advisory Services  577 
Management and Administrative—Investor Shares  12,024 
Management and Administrative—Admiral Shares  1,879 
Management and Administrative—Signal Shares  1,864 
Management and Administrative—Institutional Shares  2,008 
Management and Administrative—ETF Shares  1,489 
Marketing and Distribution—Investor Shares  1,404 
Marketing and Distribution—Admiral Shares  385 
Marketing and Distribution—Signal Shares  494 
Marketing and Distribution—Institutional Shares  1,242 
Marketing and Distribution—ETF Shares  428 
Custodian Fees  332 
Auditing Fees  27 
Shareholders’ Reports and Proxies—Investor Shares  607 
Shareholders’ Reports and Proxies—Admiral Shares  25 
Shareholders’ Reports and Proxies—Signal Shares  44 
Shareholders’ Reports and Proxies—Institutional Shares  127 
Shareholders’ Reports and Proxies—ETF Shares  160 
Trustees’ Fees and Expenses  29 
Total Expenses  25,145 
Net Investment Income  216,559 
Realized Net Gain (Loss)   
Investment Securities Sold  (1,373,843) 
Futures Contracts  6,382 
Realized Net Gain (Loss)  (1,367,461) 
Change in Unrealized Appreciation (Depreciation)   
Investment Securities  6,627,574 
Futures Contracts  (320) 
Change in Unrealized Appreciation (Depreciation)  6,627,254 
Net Increase (Decrease) in Net Assets Resulting from Operations  5,476,352 

1 Interest income from an affiliated company of the fund was $87,000.

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

45


Mid-Cap 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  216,559  253,019 
Realized Net Gain (Loss)  (1,367,461)  (378,774) 
Change in Unrealized Appreciation (Depreciation)  6,627,254  (8,785,676) 
Net Increase (Decrease) in Net Assets Resulting from Operations  5,476,352  (8,911,431) 
Distributions     
Net Investment Income     
Investor Shares  (74,555)  (88,881) 
Admiral Shares  (26,125)  (33,682) 
Signal Shares  (27,839)  (33,374) 
Institutional Shares  (73,930)  (81,431) 
ETF Shares  (26,425)  (23,651) 
Realized Capital Gain     
Investor Shares  —  — 
Admiral Shares  —  — 
Signal Shares  —  — 
Institutional Shares  —  — 
ETF Shares  —  — 
Total Distributions  (228,874)  (261,019) 
Capital Share Transactions     
Investor Shares  310,089  38,937 
Admiral Shares  (15,864)  (92,327) 
Signal Shares  100,492  294,541 
Institutional Shares  512,438  459,621 
ETF Shares  536,791  510,638 
Net Increase (Decrease) from Capital Share Transactions  1,443,946  1,211,410 
Total Increase (Decrease)  6,691,424  (7,961,040) 
Net Assets     
Beginning of Period  12,794,804  20,755,844 
End of Period1  19,486,228  12,794,804 

1 Net Assets—End of Period includes undistributed (overdistributed) net investment income of ($23,795,000) and ($11,480,000).

See accompanying Notes, which are an integral part of the Financial Statements.
46


Mid-Cap Index Fund

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  $11.80  $20.70  $19.78  $17.63  $15.64 
Investment Operations           
Net Investment Income  .171  .224  .269  .253  .198 
Net Realized and Unrealized Gain (Loss)           
on Investments  4.571  (8.894)  .918  2.144  1.983 
Total from Investment Operations  4.742  (8.670)  1.187  2.397  2.181 
Distributions           
Dividends from Net Investment Income  (.182)  (.230)  (.267)  (.247)  (.191) 
Distributions from Realized Capital Gains  —  —  —  —  — 
Total Distributions  (.182)  (.230)  (.267)  (.247)  (.191) 
Net Asset Value, End of Period  $16.36  $11.80  $20.70  $19.78  $17.63 
 
Total Return1  40.22%  -41.82%  6.02%  13.60%  13.93% 
 
Ratios/Supplemental Data           
Net Assets, End of Period (Millions)  $6,789  $4,652  $8,075  $7,677  $6,399 
Ratio of Total Expenses to           
Average Net Assets  0.27%  0.22%  0.21%  0.22%  0.22% 
Ratio of Net Investment Income to           
Average Net Assets  1.32%  1.36%  1.30%  1.43%  1.36% 
Portfolio Turnover Rate2  21%  24%  19%  18%  18% 

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, including ETF Creation Units.

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


Mid-Cap Index Fund

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  $53.49  $93.93  $89.73  $79.98  $70.92 
Investment Operations           
Net Investment Income  .855  1.099  1.327  1.226  .946 
Net Realized and Unrealized Gain (Loss)           
on Investments  20.782  (40.405)  4.188  9.725  9.022 
Total from Investment Operations  21.637  (39.306)  5.515  10.951  9.968 
Distributions           
Dividends from Net Investment Income  (.897)  (1.134)  (1.315)  (1.201)  (.908) 
Distributions from Realized Capital Gains  —  —  —  —  — 
Total Distributions  (.897)  (1.134)  (1.315)  (1.201)  (.908) 
Net Asset Value, End of Period  $74.23  $53.49  $93.93  $89.73  $79.98 
 
Total Return  40.48%  -41.78%  6.17%  13.69%  14.04% 
 
Ratios/Supplemental Data           
Net Assets, End of Period (Millions)  $2,184  $1,601  $2,975  $4,075  $2,852 
Ratio of Total Expenses to           
Average Net Assets  0.14%  0.11%  0.10%  0.13%  0.13% 
Ratio of Net Investment Income to           
Average Net Assets  1.45%  1.47%  1.41%  1.52%  1.45% 
Portfolio Turnover Rate1  21%  24%  19%  18%  18% 

1 Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares,
including ETF Creation Units.

See accompanying Notes, which are an integral part of the Financial Statements.
48


Mid-Cap Index Fund

Financial Highlights

Signal Shares       
      March 30, 
  Year Ended  20071 to 
  December 31,  Dec. 31, 
For a Share Outstanding Throughout Each Period  2009  2008  2007 
Net Asset Value, Beginning of Period  $16.89  $29.66  $29.63 
Investment Operations       
Net Investment Income  .271  .349  .300 
Net Realized and Unrealized Gain (Loss) on Investments  6.552  (12.759)  .138 
Total from Investment Operations  6.823  (12.410)  .438 
Distributions       
Dividends from Net Investment Income  (.283)  (.360)  (.408) 
Distributions from Realized Capital Gains  —  —  — 
Total Distributions  (.283)  (.360)  (.408) 
Net Asset Value, End of Period  $23.43  $16.89  $29.66 
 
Total Return  40.43%  -41.78%  1.50% 
 
Ratios/Supplemental Data       
Net Assets, End of Period (Millions)  $2,346  $1,609  $2,458 
Ratio of Total Expenses to Average Net Assets  0.14%  0.11%  0.10%2 
Ratio of Net Investment Income to Average Net Assets  1.45%  1.47%  1.41%2 
Portfolio Turnover Rate3  21%  24%  19% 

1 Inception.
2 Annualized.
3 Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares,
including ETF Creation Units.

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

49


Mid-Cap Index Fund

Financial Highlights

Institutional Shares           
 
For a Share Outstanding  Year Ended December 31, 
Throughout Each Period  2009  2008  2007  2006  2005 
Net Asset Value, Beginning of Period  $11.82  $20.76  $19.83  $17.67  $15.67 
Investment Operations           
Net Investment Income  .197  .250  .300  .286  .228 
Net Realized and Unrealized Gain (Loss)           
on Investments  4.588  (8.933)  .928  2.149  1.983 
Total from Investment Operations  4.785  (8.683)  1.228  2.435  2.211 
Distributions           
Dividends from Net Investment Income  (.205)  (.257)  (.298)  (.275)  (.211) 
Distributions from Realized Capital Gains  —  —  —  —  — 
Total Distributions  (.205)  (.257)  (.298)  (.275)  (.211) 
Net Asset Value, End of Period  $16.40  $11.82  $20.76  $19.83  $17.67 
 
Total Return  40.51%  -41.76%  6.22%  13.78%  14.09% 
 
Ratios/Supplemental Data           
Net Assets, End of Period (Millions)  $5,960  $3,820  $6,162  $4,633  $2,905 
Ratio of Total Expenses to           
Average Net Assets  0.08%  0.07%  0.07%  0.08%  0.08% 
Ratio of Net Investment Income to           
Average Net Assets  1.51%  1.51%  1.44%  1.57%  1.50% 
Portfolio Turnover Rate1  21%  24%  19%  18%  18% 

1 Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares,
including ETF Creation Units.

See accompanying Notes, which are an integral part of the Financial Statements.
50


Mid-Cap Index Fund

Financial Highlights

ETF Shares           
 
For a Share Outstanding  Year Ended December 31, 
Throughout Each Period  2009  2008  2007  2006  2005 
Net Asset Value, Beginning of Period  $43.21  $75.90  $72.48  $64.61  $57.32 
Investment Operations           
Net Investment Income  .696  .895  1.042  .992  .785 
Net Realized and Unrealized Gain (Loss)           
on Investments  16.794  (32.656)  3.403  7.851  7.258 
Total from Investment Operations  17.490  (31.761)  4.445  8.843  8.043 
Distributions           
Dividends from Net Investment Income  (.730)  (.929)  (1.025)  (.973)  (.753) 
Distributions from Realized Capital Gains  —  —  —  —  — 
Total Distributions  (.730)  (.929)  (1.025)  (.973)  (.753) 
Net Asset Value, End of Period  $59.97  $43.21  $75.90  $72.48  $64.61 
 
Total Return  40.49%  -41.79%  6.14%  13.69%  14.03% 
 
Ratios/Supplemental Data           
Net Assets, End of Period (Millions)  $2,207  $1,113  $1,087  $1,582  $1,044 
Ratio of Total Expenses to           
Average Net Assets  0.14%  0.12%  0.13%  0.13%  0.13% 
Ratio of Net Investment Income to           
Average Net Assets  1.45%  1.46%  1.38%  1.52%  1.45% 
Portfolio Turnover Rate1  21%  24%  19%  18%  18% 

1 Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares,
including ETF Creation Units.

See accompanying Notes, which are an integral part of the Financial Statements.
51


Mid-Cap Index Fund

Notes to Financial Statements

Vanguard Mid-Cap Index Fund is registered under the Investment Company Act of 1940 as an openend investment company, or mutual fund. The fund offers five classes of shares: Investor Shares, Admiral Shares, Signal Shares, Institutional Shares, and ETF Shares. Investor Shares are available to any investor who meets the fund’s minimum purchase requirements. Admiral Shares are designed for investors who meet certain administrative, service, tenure, and account-size criteria. Signal Shares are designed for institutional investors who meet certain administrative, service, and account-size criteria. Institutional Shares are designed for investors who meet certain administrative and service criteria and invest a minimum amount of $5 million. ETF Shares are listed for trading on the NYSE Arca, Inc.; they can be purchased and sold through a broker.

A. The following significant accounting policies conform to generally accepted accounting principles for
U.S. mutual funds. The fund consistently follows such policies in preparing its financial statements.

1. Security Valuation: Securities are valued as of the close of trading on the New York Stock Exchange (generally 4 p.m., Eastern time) on the valuation date. Equity securities are valued at the latest quoted sales prices or official closing prices taken from the primary market in which each security trades; such securities not traded on the valuation date are valued at the mean of the latest quoted bid and asked prices. Securities for which market quotations are not readily available, or whose values have been materially affected by events occurring before the fund’s pricing time but after the close of the securities’ primary markets, are valued by methods deemed by the board of trustees to represent fair value. Investments in Vanguard Market Liquidity Fund are valued at that fund’s net asset value. Temporary cash investments acquired over 60 days to maturity are valued using the latest bid prices or using valuations based on a matrix system (which considers such factors as security prices, yields, maturities, and ratings), both as furnished by independent pricing services. Other temporary cash investments are valued at amortized cost, which approximates market value.

2. Futures Contracts: The fund uses index futures contracts to a limited extent, with the objectives of maintaining full exposure to the stock market, enhancing returns, maintaining liquidity, and minimizing transaction costs. The fund may purchase futures contracts to immediately invest incoming cash in the market, or sell futures in response to cash outflows, thereby simulating a fully invested position in the underlying index while maintaining a cash balance for liquidity. The fund may seek to enhance returns by using futures contracts instead of the underlying securities when futures are believed to be priced more attractively than the underlying securities. The primary risks associated with the use of futures contracts are imperfect correlation between changes in market values of stocks held by the fund and the prices of futures contracts, and the possibility of an illiquid market.

Futures contracts are valued at their quoted daily settlement prices. The aggregate principal amounts of the contracts are not recorded in the Statement of Net Assets. Fluctuations in the value of the contracts are recorded in the Statement of Net Assets as an asset (liability) and in the Statement of Operations as unrealized appreciation (depreciation) until the contracts are closed, when they are recorded as realized futures gains (losses).

3. Federal Income Taxes: The fund intends to continue to qualify as a regulated investment company and distribute all of its taxable income. Management has analyzed the fund’s tax positions taken for all open federal income tax years (December 31, 2006–2009), and has concluded that no provision for federal income tax is required in the fund’s financial statements.

4. Distributions: Distributions to shareholders are recorded on the ex-dividend date.

52


Mid-Cap Index Fund

5. Security Lending: The fund may lend its securities to qualified institutional borrowers to earn additional income. Security loans are required to be secured at all times by collateral at least equal to the market value of securities loaned. The fund invests cash collateral received in Vanguard Market Liquidity Fund, and records a liability for the return of the collateral, during the period the securities are on loan. Security lending income represents the income earned on investing cash collateral, less expenses associated with the loan.

6. Other: Dividend income is recorded on the ex-dividend date. Interest income includes income distributions received from Vanguard Market Liquidity Fund and is accrued daily. Security transactions are accounted for on the date securities are bought or sold. Costs used to determine realized gains (losses) on the sale of investment securities are those of the specific securities sold.

Each class of shares has equal rights as to assets and earnings, except that each class separately bears certain class-specific expenses related to maintenance of shareholder accounts (included in Management and Administrative expenses), shareholder reporting, and proxies. Marketing and distribution expenses are allocated to each class of shares based on a method approved by the board of trustees. Income, other non-class-specific expenses, and gains and losses on investments are allocated to each class of shares based on its relative net assets.

B. The Vanguard Group furnishes at cost investment advisory, corporate management, administrative, marketing, and distribution services. The costs of such services are allocated to the fund under methods approved by the board of trustees. The fund has committed to provide up to 0.40% of its net assets in capital contributions to Vanguard. At December 31, 2009, the fund had contributed capital of $3,695,000 to Vanguard (included in Other Assets), representing 0.02% of the fund’s net assets and 1.48% of Vanguard’s capitalization. The fund’s trustees and officers are also directors and officers of Vanguard.

C. Various inputs may be used to determine the value of the fund’s investments. These inputs are summarized in three broad levels for financial statement purposes. The inputs or methodologies used to value securities are not necessarily an indication of the risk associated with investing in those securities.

Level 1—Quoted prices in active markets for identical securities.
Level 2—Other significant observable inputs (including quoted prices for similar securities, interest
rates, prepayment speeds, credit risk, etc.).
Level 3—Significant unobservable inputs (including the fund’s own assumptions used to determine the
fair value of investments).

The following table summarizes the fund’s investments as of December 31, 2009, based on the inputs used to value them:

  Level 1  Level 2  Level 3 
Investments  ($000)  ($000)  ($000) 
Common Stocks  19,466,670  —  — 
Temporary Cash Investments  131,935  1,998  — 
Futures Contracts—Liabilities1  (258)  —  — 
Total  19,598,347  1,998  — 

1 Represents variation margin on the last day of the reporting period.

53


Mid-Cap Index Fund

D. At December 31, 2009, the aggregate settlement value of open futures contracts and the related unrealized appreciation (depreciation) were:

      ($000) 
    Number of  Aggregate  Unrealized 
    Long (Short)  Settlement  Appreciation 
Futures Contracts  Expiration  Contracts  Value  (Depreciation) 
S&P MidCap 400 Index  March 2010  56  20,297  382 

Unrealized appreciation (depreciation) on open futures contracts is required to be treated as realized gain (loss) for tax purposes.

E. Distributions are determined on a tax basis and may differ from net investment income and realized capital gains for financial reporting purposes. Differences may be permanent or temporary. Permanent differences are reclassified among capital accounts in the financial statements to reflect their tax character. Temporary differences arise when certain items of income, expense, gain, or loss are recognized in different periods for financial statement and tax purposes; these differences will reverse at some time in the future. Differences in classification may also result from the treatment of short-term gains as ordinary income for tax purposes.

During the year ended December 31, 2009, the fund realized $319,921,000 of net capital gains resulting from in-kind redemptions—in which shareholders exchanged fund shares for securities held by the fund rather than for cash. Because such gains are not taxable to the fund, and are not distributed to shareholders, they have been reclassified from accumulated net realized losses to paid-in capital.

For tax purposes, at December 31, 2009, the fund had $2,442,000 of ordinary income available for distribution. The fund had available capital loss carryforwards totaling $3,065,346,000 to offset future net capital gains of $14,378,000 through December 31, 2011, $63,490,000 through December 31, 2014, $1,194,244,000 through December 31, 2016, and $1,793,234,000 through December 31, 2017. In addition, the fund realized losses of $251,861,000 during the period from November 1, 2009, through December 31, 2009, which are deferred and will be treated as realized for tax purposes in fiscal 2010.

At December 31, 2009, the cost of investment securities for tax purposes was $18,887,459,000. Net unrealized appreciation of investment securities for tax purposes was $713,144,000, consisting of unrealized gains of $2,977,427,000 on securities that had risen in value since their purchase and $2,264,283,000 in unrealized losses on securities that had fallen in value since their purchase.

F. During the year ended December 31, 2009, the fund purchased $5,660,002,000 of investment securities and sold $4,187,515,000 of investment securities, other than temporary cash investments.

54


Mid-Cap Index Fund

G. Capital share transactions for each class of shares were:

  Year Ended December 31, 
  2009  2008 
  Amount  Shares  Amount  Shares 
  ($000)  (000)  ($000)  (000) 
Investor Shares         
Issued  1,423,348  107,883  1,737,395  104,616 
Issued in Lieu of Cash Distributions  69,914  4,350  82,868  7,401 
Redeemed  (1,183,173)  (91,741)  (1,781,326)  (107,716) 
Net Increase (Decrease)—Investor Shares  310,089  20,492  38,937  4,301 
Admiral Shares         
Issued  291,548  4,815  404,218  5,373 
Issued in Lieu of Cash Distributions  22,510  309  29,154  573 
Redeemed  (329,922)  (5,626)  (525,699)  (7,688) 
Net Increase (Decrease)—Admiral Shares  (15,864)  (502)  (92,327)  (1,742) 
Signal Shares         
Issued  573,460  30,467  872,795  36,859 
Issued in Lieu of Cash Distributions  23,904  1,038  29,003  1,809 
Redeemed  (496,872)  (26,673)  (607,257)  (26,247) 
Net Increase (Decrease)—Signal Shares  100,492  4,832  294,541  12,421 
Institutional Shares         
Issued  1,384,125  105,648  1,589,915  92,750 
Issued in Lieu of Cash Distributions  71,321  4,413  76,936  6,856 
Redeemed  (943,008)  (69,913)  (1,207,230)  (73,261) 
Net Increase (Decrease)—Institutional Shares  512,438  40,148  459,621  26,345 
ETF Shares         
Issued  1,647,762  34,436  2,672,698  47,242 
Issued in Lieu of Cash Distributions  —  —  —  — 
Redeemed  (1,110,971)  (23,400)  (2,162,060)  (35,800) 
Net Increase (Decrease)—ETF Shares  536,791  11,036  510,638  11,442 

H. In preparing the financial statements as of December 31, 2009, management considered the impact of subsequent events occurring through February 12, 2010, for potential recognition or disclosure in these financial statements.

55


Mid-Cap Growth Index Fund

Fund Profile
As of December 31, 2009

Share-Class Characteristics

  Investor  ETF 
  Shares  Shares 
Ticker Symbol  VMGIX  VOT 
Expense Ratio1  0.30%  0.15% 
30-Day SEC Yield  0.21%  0.36% 

Portfolio Characteristics     
    MSCI US  DJ 
    Mid Cap  U.S. Total 
    Growth  Market 
  Fund  Index  Index 
Number of Stocks  245  246  4,201 
Median Market Cap  $5.0B  $4.9B  $30.7B 
Price/Earnings Ratio  76.5x  76.3x  35.7x 
Price/Book Ratio  3.2x  3.2x  2.1x 
Return on Equity  18.1%  18.2%  19.3% 
Earnings Growth Rate 17.7%  17.7%  8.1% 
Dividend Yield  0.5%  0.5%  1.8% 
Foreign Holdings  0.0%  0.0%  0.0% 
Turnover Rate  43%  —  — 
Short-Term Reserves  0.3%  —  — 

Sector Diversification (% of equity exposure) 
    MSCI US  DJ 
    Mid Cap  U.S. Total 
    Growth  Market 
  Fund  Index  Index 
Consumer       
Discretionary  16.2%  16.4%  10.3% 
Consumer Staples  3.4  3.3  9.9 
Energy  9.8  9.8  10.6 
Financials  4.8  4.8  16.0 
Health Care  17.5  17.5  12.6 
Industrials  15.6  15.6  10.6 
Information       
Technology  24.8  24.7  19.3 
Materials  5.5  5.5  4.0 
Telecommunication       
Services  1.3  1.3  2.9 
Utilities  1.1  1.1  3.8 

Volatility Measures     
    DJ 
  MSCI US  U.S. Total 
  Mid Cap  Market 
  Growth Index  Index 
R-Squared  1.00  0.88 
Beta  1.00  1.13 

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) 
Intuitive Surgical Inc.  Health Care   
  Equipment  1.3% 
Marvell Technology  Semiconductors   
Group Ltd.    1.2 
Cameron International  Oil & Gas   
Corp.  Equipment &   
  Services  1.1 
Western Digital Corp.  Computer Storage   
  & Peripherals  1.1 
Life Technologies Corp.  Biotechnology  1.0 
Consol Energy Inc.  Coal & Consumable   
  Fuels  1.0 
Delta Air Lines Inc.  Airlines  1.0 
priceline.com Inc.  Internet Retail  1.0 
Rockwell Collins Inc.  Aerospace &   
  Defense  1.0 
Salesforce.com Inc.  Application   
  Software  0.9 
Top Ten    10.6% 

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 0.30% for
Investor Shares and 0.14% for ETF Shares.

56


Mid-Cap Growth 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: August 24, 2006, Through December 31, 2009
Initial Investment of $10,000


    Average Annual Total Returns   
    Periods Ended December 31, 2009   
        Final Value 
    One  Since  of a $10,000 
    Year  Inception  Investment 
  Mid-Cap Growth Index Fund Investor       
  Shares  42.54%  -0.99%  $9,673 
••••••••  Dow Jones U.S. Total Stock Market       
  Index  29.35  -1.48  9,511 
 
 
Mid-Cap Growth Funds 40.12 -0.12 9,960
– – – –  MSCI US  Mid Cap Growth Average Index  43.01  -0.85   9,717 

Mid-Cap Growth Funds Average: Derived from data provided by Lipper Inc.
Performance for the fund’s Investor Shares and comparative standards is calculated since the Investor 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.

57


Mid-Cap Growth Index Fund

    Since  Final Value 
  One  Inception  of a $10,000 
  Year  (8/17/2006)  Investment 
Mid-Cap Growth Index Fund       
ETF Shares Net Asset Value  42.85%  -1.27%  $9,580 
Dow Jones U.S. Total Stock Market Index  29.35  -1.59  9,474 
MSCI US Mid Cap Growth Index  43.01  -1.27  9,579 

Performance for the fund’s ETF Shares and comparative standards is calculated since the ETF Shares’ inception.
For more information about how the ETF Shares' market prices have compared with their net asset value, visit www.vanguard.com, select
your ETF, and then select the Performance tab. The Premium/Discount table there shows the percentages of days on which the ETF Shares'
market price was above or below the NAV.

Cumulative Returns of ETF Shares: August 17, 2006, Through December 31, 2009

  One  Since 
  Year  Inception 
Mid-Cap Growth Index Fund     
ETF Shares Market Price  43.10%  -4.17% 
Mid-Cap Growth Index Fund     
ETF Shares Net Asset Value  42.85  -4.20 
MSCI US Mid Cap Growth Index  43.01  -4.21 

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

Fiscal-Year Total Returns (%): August 24, 2006, 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.

58


Mid-Cap Growth 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 (100.2%)     
Consumer Discretionary (16.2%)   
*  priceline.com Inc.  52,556  11,483 
  Cablevision Systems Corp.     
  Class A  322,678  8,332 
  Nordstrom Inc.  212,497  7,986 
  International     
  Game Technology  387,777  7,279 
  Ross Stores Inc.  165,796  7,081 
*  CarMax Inc.  288,388  6,993 
  Tiffany & Co.  162,454  6,985 
*  O'Reilly Automotive Inc.  179,009  6,824 
*  Expedia Inc.  258,064  6,635 
  Polo Ralph Lauren Corp.     
  Class A  74,419  6,026 
*  Urban Outfitters Inc.  165,125  5,778 
*  Dollar Tree Inc.  117,024  5,652 
  Wynn Resorts Ltd.  96,716  5,632 
*  Discovery     
  Communications Inc.     
  Class A  176,195  5,404 
  BorgWarner Inc.  152,711  5,073 
  Advance Auto Parts Inc.  124,980  5,059 
  Scripps Networks     
  Interactive Inc. Class A  118,064  4,900 
*  Discovery     
  Communications Inc.  184,203  4,885 
  Family Dollar Stores Inc.  173,791  4,837 
  DeVry Inc.  83,851  4,757 
*  ITT Educational Services Inc.  49,358  4,736 
*  GameStop Corp. Class A  204,760  4,492 
  PetSmart Inc.  163,702  4,369 
*  NVR Inc.  6,089  4,327 
  Virgin Media Inc.  237,961  4,005 
  Strayer Education Inc.  18,320  3,893 
*  Chipotle Mexican Grill Inc.     
  Class A  41,452  3,654 
*  NetFlix Inc.  63,920  3,525 
*  LKQ Corp.  165,836  3,249 
*  MGM Mirage  346,571  3,161 
  Guess? Inc.  72,311  3,059 
  Harman International     
  Industries Inc.  86,277  3,044 
  Pulte Homes Inc.  291,647  2,916 
*  Goodyear Tire & Rubber Co.  195,621  2,758 
  Burger King Holdings Inc.  123,584  2,326 
  WABCO Holdings Inc.  83,082  2,143 
  DR Horton Inc.  186,342  2,026 
*  Lamar Advertising Co.     
  Class A  61,476  1,911 
*  Toll Brothers Inc.  88,848  1,671 
*  Interpublic Group     
  of Cos. Inc.  220,567  1,628 
*  Penn National Gaming Inc.  43,271  1,176 
  Wendy's/Arby's Group Inc.     
  Class A  182,220  855 
*  Clear Channel Outdoor     
  Holdings Inc. Class A  52,254  543 
      193,068 
Consumer Staples (3.4%)     
  Estee Lauder Cos. Inc.     
  Class A  147,497  7,133 
  Mead Johnson Nutrition Co.     
  Class A  133,865  5,850 
*  Energizer Holdings Inc.  86,390  5,294 
*  Whole Foods Market Inc.  183,892  5,048 
  Dr Pepper Snapple     
  Group Inc.  166,248  4,705 
*  Dean Foods Co.  236,060  4,258 
*  Hansen Natural Corp.  100,888  3,874 
  Flowers Foods Inc.  107,602  2,557 
  Hormel Foods Corp.  33,632  1,293 
      40,012 
Energy (9.8%)     
*  Cameron International Corp. 319,913  13,372 
  Consol Energy Inc.  236,499  11,778 
  Range Resources Corp.  205,881  10,263 
*  Petrohawk Energy Corp.  393,688  9,445 
*  FMC Technologies Inc.  160,283  9,271 
*  Alpha Natural Resources Inc. 156,882  6,806 

59


Mid-Cap Growth Index Fund

      Market 
      Value • 
    Shares  ($000) 
  Helmerich & Payne Inc.  138,044  5,505 
  EXCO Resources Inc.  235,012  4,989 
*  Plains Exploration     
  & Production Co.  179,326  4,960 
*  Denbury Resources Inc.  326,502  4,832 
  Massey Energy Co.  111,960  4,703 
*  Oceaneering     
  International Inc.  71,827  4,203 
  Cabot Oil & Gas Corp.  88,263  3,847 
*  Concho Resources Inc.  84,032  3,773 
  BJ Services Co.  191,212  3,557 
*  Dresser-Rand Group Inc.  107,970  3,413 
*  Quicksilver Resources Inc.  153,904  2,310 
  Patterson-UTI Energy Inc.  129,558  1,989 
*  Continental Resources Inc.  44,205  1,896 
*  Rowan Cos. Inc.  73,891  1,673 
*  SandRidge Energy Inc.  130,289  1,229 
  Tesoro Corp.  90,472  1,226 
*  CNX Gas Corp.  39,337  1,161 
*  Cobalt International     
  Energy Inc.  70,285  973 
      117,174 
Financials (4.8%)     
  Host Hotels & Resorts Inc.  812,985  9,488 
*  IntercontinentalExchange Inc.  81,398 9,141 
  Eaton Vance Corp.  145,224  4,416 
*  CB Richard Ellis Group Inc.     
  Class A  318,122  4,317 
*  Affiliated Managers     
  Group Inc.  54,560  3,675 
*  St Joe Co.  121,118  3,499 
*  Jefferies Group Inc.  135,618  3,218 
  Janus Capital Group Inc.  238,454  3,207 
  SEI Investments Co.  175,140  3,068 
  Regions Financial Corp.  544,452  2,880 
  Brown & Brown Inc.  157,450  2,829 
  Greenhill & Co. Inc.  29,347  2,355 
  Digital Realty Trust Inc.  32,830  1,651 
*  American International     
  Group Inc.  54,979  1,648 
*  NASDAQ OMX Group Inc.  64,554  1,280 
  TFS Financial Corp.  60,220  731 
      57,403 
Health Care (17.6%)     
*  Intuitive Surgical Inc.  49,644  15,058 
*  Life Technologies Corp.  230,817  12,056 
*  Hospira Inc.  210,606  10,741 
*  DaVita Inc.  136,168  7,999 
*  Waters Corp.  125,060  7,749 
*  Varian Medical Systems Inc.  164,302 7,698 
*  Cerner Corp.  90,211  7,437 
*  Mylan Inc.  399,639  7,365 
*  Vertex Pharmaceuticals Inc.  163,713  7,015 
  DENTSPLY International Inc.  184,799  6,499 
*  Edwards Lifesciences Corp.  73,886  6,417 
*  Henry Schein Inc.  118,110  6,213 
*  Cephalon Inc.  97,717  6,099 
  Beckman Coulter Inc.  89,811  5,877 
*  Alexion Pharmaceuticals Inc.  115,123 5,620 
*  Millipore Corp.  72,706  5,260 
*  Watson Pharmaceuticals Inc.  131,552 5,211 
*  ResMed Inc.  98,883  5,169 
  IMS Health Inc.  238,737  5,028 
*  Illumina Inc.  162,560  4,982 
*  Hologic Inc.  335,924  4,871 
*  Mettler-Toledo     
  International Inc.  44,142  4,634 
*  Covance Inc.  83,742  4,570 
*  Community Health     
  Systems Inc.  121,444  4,323 
*  Warner Chilcott PLC     
  Class A  148,202  4,219 
*  IDEXX Laboratories Inc.  76,768  4,103 
  Perrigo Co.  102,662  4,090 
*  Patterson Cos. Inc.  120,167  3,362 
*  Lincare Holdings Inc.  88,849  3,298 
*  Myriad Genetics Inc.  125,645  3,279 
  Techne Corp.  46,373  3,179 
*  CareFusion Corp.  117,990  2,951 
*  Gen-Probe Inc.  65,417  2,806 
*  Kinetic Concepts Inc.  69,292  2,609 
*  Amylin Pharmaceuticals Inc.  183,426 2,603 
*  Dendreon Corp.  85,157  2,238 
  Pharmaceutical Product     
  Development Inc.  90,585  2,123 
*  Inverness Medical     
  Innovations Inc.  49,750  2,065 
*  Endo Pharmaceuticals     
  Holdings Inc.  98,781  2,026 
*  Abraxis Bioscience Inc.  10,399  422 
      209,264 
Industrials (15.6%)     
*  Delta Air Lines Inc.  1,017,687  11,581 
  Rockwell Collins Inc.  206,366  11,424 
  WW Grainger Inc.  81,942  7,934 
  Fastenal Co.  175,006  7,287 
*  McDermott International Inc.  300,979 7,227 
  Flowserve Corp.  73,217  6,921 
  Joy Global Inc.  133,876  6,907 
  Roper Industries Inc.  118,914  6,228 
*  Jacobs Engineering     
  Group Inc.  162,217  6,101 
*  Stericycle Inc.  105,755  5,835 
  Dun & Bradstreet Corp.  69,132  5,833 
  Bucyrus International Inc.     
  Class A  98,366  5,545 
*  Iron Mountain Inc.  239,072  5,441 
*  Quanta Services Inc.  258,800  5,393 
  AMETEK Inc.  140,737  5,382 
  Robert Half International Inc.  188,905 5,049 
*  Foster Wheeler AG  165,546  4,874 
*  Kansas City Southern  125,695  4,184 

60


Mid-Cap Growth Index Fund

      Market 
      Value • 
    Shares  ($000) 
  Donaldson Co. Inc.  96,046  4,086 
*  AGCO Corp.  121,072  3,916 
*  Alliant Techsystems Inc.  43,148  3,809 
  JB Hunt Transport     
  Services Inc.  116,313  3,753 
  Goodrich Corp.  56,887  3,655 
*  IHS Inc. Class A  66,194  3,628 
*  Verisk Analytics Inc. Class A  118,459  3,587 
*  Copart Inc.  93,631  3,430 
*  AMR Corp.  430,268  3,326 
*  Navistar International Corp.  82,902  3,204 
*  FTI Consulting Inc.  67,746  3,195 
*  Aecom Technology Corp.  115,623  3,180 
*  Shaw Group Inc.  109,407  3,145 
*  Covanta Holding Corp.  162,392  2,938 
  Pall Corp.  77,221  2,795 
  Manpower Inc.  50,968  2,782 
  MSC Industrial Direct Co.     
  Class A  57,495  2,702 
*  Hertz Global Holdings Inc.  155,210  1,850 
*  Terex Corp.  91,018  1,803 
*  Spirit Aerosystems     
  Holdings Inc. Class A  88,195  1,752 
  SPX Corp.  31,972  1,749 
*  SunPower Corp. Class A  70,919  1,679 
*  SunPower Corp. Class B  54,572  1,143 
      186,253 
Information Technology (24.8%)   
*  Marvell Technology     
  Group Ltd.  688,724  14,291 
*  Western Digital Corp.  294,128  12,986 
*  Salesforce.com Inc.  146,111  10,779 
  Amphenol Corp. Class A  224,407  10,363 
*  Fiserv Inc.  202,068  9,796 
*  BMC Software Inc.  240,809  9,656 
  Linear Technology Corp.  290,956  8,886 
  Altera Corp.  385,038  8,713 
*  SanDisk Corp.  297,196  8,616 
*  McAfee Inc.  205,798  8,349 
  Maxim Integrated     
  Products Inc.  400,614  8,132 
  KLA-Tencor Corp.  223,414  8,079 
*  Autodesk Inc.  300,663  7,640 
*  Micron Technology Inc.  720,398  7,607 
*  Red Hat Inc.  246,100  7,605 
*  Advanced Micro Devices Inc. 742,706  7,189 
*  Cree Inc.  126,342  7,122 
*  Teradata Corp.  224,917  7,069 
*  Lam Research Corp.  165,812  6,502 
*  FLIR Systems Inc.  198,328  6,489 
*  Citrix Systems Inc.  155,727  6,480 
*  VeriSign Inc.  252,475  6,120 
*  Akamai Technologies Inc.  225,695  5,717 
  Global Payments Inc.  105,618  5,689 
*  F5 Networks Inc.  102,780  5,445 
*  Equinix Inc.  50,577  5,369 
  Harris Corp.  112,687  5,358 
  Lender Processing     
  Services Inc.  125,824  5,116 
*  ANSYS Inc.  115,373  5,014 
  National     
  Semiconductor Corp.  309,418  4,753 
*  Hewitt Associates Inc.     
  Class A  109,728  4,637 
*  ON Semiconductor Corp.  523,283  4,610 
*  Sybase Inc.  106,032  4,602 
*  Alliance Data Systems Corp.  69,649  4,499 
*  Synopsys Inc.  188,899  4,209 
  Broadridge Financial     
  Solutions Inc.  182,381  4,115 
*  Nuance     
  Communications Inc.  264,160  4,105 
*  MEMC Electronic     
  Materials Inc.  292,690  3,986 
*  Brocade Communications     
  Systems Inc.  521,373  3,978 
*  Trimble Navigation Ltd.  156,891  3,954 
  Factset Research     
  Systems Inc.  58,666  3,864 
*  Dolby Laboratories Inc.     
  Class A  69,512  3,318 
*  Novellus Systems Inc.  127,841  2,984 
*  Flextronics International Ltd.  371,606 2,716 
*  DST Systems Inc.  51,606  2,247 
*  Cadence Design     
  Systems Inc.  346,116  2,073 
*  LSI Corp.  295,784  1,778 
*  NCR Corp.  133,937  1,491 
*  Avago Technologies Ltd.  61,040  1,116 
      295,212 
Materials (5.5%)     
  United States Steel Corp.  187,595  10,340 
  Sigma-Aldrich Corp.  159,458  8,057 
  Celanese Corp. Class A  187,959  6,034 
*  Crown Holdings Inc.  209,633  5,362 
  Martin Marietta     
  Materials Inc.  58,386  5,220 
  Walter Energy Inc.  69,311  5,220 
  Nalco Holding Co.  180,899  4,615 
  Terra Industries Inc.  130,650  4,206 
*  Pactiv Corp.  172,748  4,170 
  AK Steel Holding Corp.  143,260  3,059 
  Steel Dynamics Inc.  164,863  2,921 
  Scotts Miracle-Gro Co.     
  Class A  59,750  2,349 
  FMC Corp.  31,240  1,742 
  Reliance Steel &     
  Aluminum Co.  30,198  1,305 
  Commercial Metals Co.  51,118  800 
*  Titanium Metals Corp.  53,593  671 
      66,071 

61


Mid-Cap Growth Index Fund

      Market 
      Value • 
    Shares  ($000) 
Telecommunication Services (1.4%)   
*  NII Holdings Inc.  217,427  7,301 
*  SBA Communications Corp.   
  Class A  137,444  4,695 
*  MetroPCS     
  Communications Inc.  322,723  2,462 
*  Level 3     
  Communications Inc.  1,059,110  1,621 
      16,079 
Utilities (1.1%)     
  EQT Corp.  162,834  7,151 
*  Calpine Corp.  462,974  5,093 
*  Dynegy Inc. Class A  227,137  411 
      12,655 
Total Common Stocks     
(Cost $1,108,335)    1,193,191 
Temporary Cash Investment (0.3%)   
Money Market Fund (0.3%)     
1  Vanguard Market     
  Liquidity Fund, 0.187%     
  (Cost $3,765)  3,765,382  3,765 
Total Investments (100.5%)     
(Cost $1,112,100)    1,196,956 
Other Assets and Liabilities (-0.5%)   
Other Assets    12,003 
Liabilities    (17,421) 
      (5,418) 
Net Assets (100%)    1,191,538 

At December 31, 2009, net assets consisted of: 
  Amount 
  ($000) 
Paid-in Capital  1,462,463 
Overdistributed Net Investment Income  (1,017) 
Accumulated Net Realized Losses  (354,764) 
Unrealized Appreciation (Depreciation)  84,856 
Net Assets  1,191,538 
 
 
Investor Shares—Net Assets   
Applicable to 28,654,638 outstanding   
$.001 par value shares of beneficial   
interest (unlimited authorization)  545,961 
Net Asset Value Per Share—   
Investor Shares  $19.05 
 
 
ETF Shares—Net Assets   
Applicable to 13,324,774 outstanding   
$.001 par value shares of beneficial   
interest (unlimited authorization)  645,577 
Net Asset Value Per Share—   
ETF Shares  $48.45 

• See Note A in Notes to Financial Statements.
* Non-income-producing security.
1 Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by Vanguard. Rate shown is the
7-day yield.
See accompanying Notes, which are an integral part of the Financial Statements.
62


Mid-Cap Growth Index Fund

Statement of Operations

  Year Ended 
  December 31, 2009 
  ($000) 
Investment Income   
Income   
Dividends  7,317 
Interest1  5 
Security Lending  319 
Total Income  7,641 
Expenses   
The Vanguard Group—Note B   
Investment Advisory Services  102 
Management and Administrative—Investor Shares  842 
Management and Administrative—ETF Shares  297 
Marketing and Distribution—Investor Shares  104 
Marketing and Distribution—ETF Shares  154 
Custodian Fees  170 
Auditing Fees  23 
Shareholders’ Reports and Proxies—Investor Shares  50 
Shareholders’ Reports and Proxies—ETF Shares  83 
Trustees’ Fees and Expenses  2 
Total Expenses  1,827 
Net Investment Income  5,814 
Realized Net Gain (Loss) on Investment Securities Sold  (86,447) 
Change in Unrealized Appreciation (Depreciation) of Investment Securities  415,760 
Net Increase (Decrease) in Net Assets Resulting from Operations  335,127 
1 Interest income from an affiliated company of the fund was $5,000.   

See accompanying Notes, which are an integral part of the Financial Statements.
63


Mid-Cap Growth 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  5,814  3,685 
Realized Net Gain (Loss)  (86,447)  (141,355) 
Change in Unrealized Appreciation (Depreciation)  415,760  (357,531) 
Net Increase (Decrease) in Net Assets Resulting from Operations  335,127  (495,201) 
Distributions     
Net Investment Income     
Investor Shares  (2,593)  (1,267) 
ETF Shares  (3,860)  (2,723) 
Realized Capital Gain     
Investor Shares  —  — 
ETF Shares  —  — 
Total Distributions  (6,453)  (3,990) 
Capital Share Transactions     
Investor Shares  132,234  117,345 
ETF Shares  42,626  304,432 
Net Increase (Decrease) from Capital Share Transactions  174,860  421,777 
Total Increase (Decrease)  503,534  (77,414) 
Net Assets     
Beginning of Period  688,004  765,418 
End of Period1  1,191,538  688,004 
1 Net Assets—End of Period includes undistributed (overdistributed) net investment income of ($1,017,000) and ($378,000).   

See accompanying Notes, which are an integral part of the Financial Statements.
64


Mid-Cap Growth Index Fund

Financial Highlights

Investor Shares         
        Aug. 24, 
        20061 to 
  Year Ended December 31,  Dec. 31, 
For a Share Outstanding Throughout Each Period  2009  2008  2007  2006 
Net Asset Value, Beginning of Period  $13.43  $25.50  $21.78  $20.00 
Investment Operations         
Net Investment Income  .084  .059  .0812  .090 
Net Realized and Unrealized Gain (Loss) on Investments  5.629  (12.065)  3.686  1.770 
Total from Investment Operations  5.713  (12.006)  3.767  1.860 
Distributions         
Dividends from Net Investment Income  (.093)  (.064)  (.047)  (.080) 
Distributions from Realized Capital Gains  —  —  —  — 
Total Distributions  (.093)  (.064)  (.047)  (.080) 
Net Asset Value, End of Period  $19.05  $13.43  $25.50  $21.78 
 
Total Return3  42.54%  -47.07%  17.30%  9.30% 
 
Ratios/Supplemental Data         
Net Assets, End of Period (Millions)  $546  $275  $389  $24 
Ratio of Total Expenses to Average Net Assets  0.30%  0.25%  0.24%  0.26%4 
Ratio of Net Investment Income to Average Net Assets  0.55%  0.37%  0.33%  1.00%4 
Portfolio Turnover Rate5  43%  54%  56%  20% 

1 Inception.
2 Calculated based on average shares outstanding.
3 Total returns do not include the account service fee that may be applicable to certain accounts with balances below $10,000.
4 Annualized.
5 Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares,
including ETF Creation Units.

See accompanying Notes, which are an integral part of the Financial Statements.
65


Mid-Cap Growth Index Fund

Financial Highlights

ETF Shares         
        Aug. 17, 
        20061 to 
  Year Ended December 31,  Dec. 31, 
For a Share Outstanding Throughout Each Period  2009  2008  2007  2006 
Net Asset Value, Beginning of Period  $34.12  $64.85  $55.35  $51.55 
Investment Operations         
Net Investment Income  .267  .214  .2752  .228 
Net Realized and Unrealized Gain (Loss) on Investments  14.353  (30.717)  9.378  3.783 
Total from Investment Operations  14.620  (30.503)  9.653  4.011 
Distributions         
Dividends from Net Investment Income  (.290)  (.227)  (.153)  (.211) 
Distributions from Realized Capital Gains  —  —  —  — 
Total Distributions  (.290)  (.227)  (.153)  (.211) 
Net Asset Value, End of Period  $48.45  $34.12  $64.85  $55.35 
 
Total Return  42.85%  -47.02%  17.44%  7.78% 
 
Ratios/Supplemental Data         
Net Assets, End of Period (Millions)  $646  $413  $377  $22 
Ratio of Total Expenses to Average Net Assets  0.14%  0.12%  0.13%  0.13%3 
Ratio of Net Investment Income to Average Net Assets  0.71%  0.50%  0.44%  1.13%3 
Portfolio Turnover Rate4  43%  54%  56%  20% 

1 Inception.
2 Calculated based on average shares outstanding.
3 Annualized.
4 Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares,
including ETF Creation Units.

See accompanying Notes, which are an integral part of the Financial Statements.
66


Mid-Cap Growth Index Fund

Notes to Financial Statements

Vanguard Mid-Cap Growth Index Fund is registered under the Investment Company Act of 1940 as an open-end investment company, or mutual fund. The fund offers two classes of shares: Investor Shares and ETF Shares. Investor Shares are available to any investor who meets the fund’s minimum purchase requirements. ETF Shares are listed for trading on the NYSE Arca, Inc.; they can be purchased and sold through a broker.

A. The following significant accounting policies conform to generally accepted accounting principles for

U.S. mutual funds. The fund consistently follows such policies in preparing its financial statements.

1. Security Valuation: Securities are valued as of the close of trading on the New York Stock Exchange (generally 4 p.m., Eastern time) on the valuation date. Equity securities are valued at the latest quoted sales prices or official closing prices taken from the primary market in which each security trades; such securities not traded on the valuation date are valued at the mean of the latest quoted bid and asked prices. Securities for which market quotations are not readily available, or whose values have been materially affected by events occurring before the fund’s pricing time but after the close of the securities’ primary markets, are valued by methods deemed by the board of trustees to represent fair value. Investments in Vanguard Market Liquidity Fund are valued at that fund’s net asset value.

2. Federal Income Taxes: The fund intends to continue to qualify as a regulated investment company and distribute all of its taxable income. Management has analyzed the fund’s tax positions taken for all open federal income tax years (December 31, 2006–2009), and has concluded that no provision for federal income tax is required in the fund’s financial statements.

3. Distributions: Distributions to shareholders are recorded on the ex-dividend date.

4. Security Lending: The fund may lend its securities to qualified institutional borrowers to earn additional income. Security loans are required to be secured at all times by collateral at least equal to the market value of securities loaned. The fund invests cash collateral received in Vanguard Market Liquidity Fund, and records a liability for the return of the collateral, during the period the securities are on loan. Security lending income represents the income earned on investing cash collateral, less expenses associated with the loan.

5. Other: Dividend income is recorded on the ex-dividend date. Interest income includes income distributions received from Vanguard Market Liquidity Fund and is accrued daily. Security transactions are accounted for on the date securities are bought or sold. Costs used to determine realized gains (losses) on the sale of investment securities are those of the specific securities sold.

Each class of shares has equal rights as to assets and earnings, except that each class separately bears certain class-specific expenses related to maintenance of shareholder accounts (included in Management and Administrative expenses), shareholder reporting, and proxies. Marketing and distribution expenses are allocated to each class of shares based on a method approved by the board of trustees. Income, other non-class-specific expenses, and gains and losses on investments are allocated to each class of shares based on its relative net assets.

B. The Vanguard Group furnishes at cost investment advisory, corporate management, administrative, marketing, and distribution services. The costs of such services are allocated to the fund under methods approved by the board of trustees. The fund has committed to provide up to 0.40% of its net assets in capital contributions to Vanguard. At December 31, 2009, the fund had contributed capital of

67


Mid-Cap Growth Index Fund

$219,000 to Vanguard (included in Other Assets), representing 0.02% of the fund’s net assets and 0.09% of Vanguard’s capitalization. The fund’s trustees and officers are also directors and officers of Vanguard.

C. Various inputs may be used to determine the value of the fund’s investments. These inputs are summarized in three broad levels for financial statement purposes. The inputs or methodologies used to value securities are not necessarily an indication of the risk associated with investing in those securities.

Level 1—Quoted prices in active markets for identical securities.

Level 2—Other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).

Level 3—Significant unobservable inputs (including the fund’s own assumptions used to determine the fair value of investments).

At December 31, 2009, 100% of the fund’s investments were valued based on Level 1 inputs.

D. Distributions are determined on a tax basis and may differ from net investment income and realized capital gains for financial reporting purposes. Differences may be permanent or temporary. Permanent differences are reclassified among capital accounts in the financial statements to reflect their tax character. Temporary differences arise when certain items of income, expense, gain, or loss are recognized in different periods for financial statement and tax purposes; these differences will reverse at some time in the future. Differences in classification may also result from the treatment of short-term gains as ordinary income for tax purposes.

During the year ended December 31, 2009, the fund realized $47,305,000 of net capital gains resulting from in-kind redemptions—in which shareholders exchanged fund shares for securities held by the fund rather than for cash. Because such gains are not taxable to the fund, and are not distributed to shareholders, they have been reclassified from accumulated net realized losses to paid-in capital.

For tax purposes, at December 31, 2009, the fund had $74,000 of ordinary income available for distribution. The fund had available capital loss carryforwards totaling $315,169,000 to offset future net capital gains of $35,000 through December 31, 2014, $480,000 through December 31, 2015, $48,884,000 through December 31, 2016, and $265,770,000 through December 31, 2017. In addition, the fund realized losses of $38,049,000 during the period from November 1, 2009, through December 31, 2009, which are deferred and will be treated as realized for tax purposes in fiscal 2010.

At December 31, 2009, the cost of investment securities for tax purposes was $1,113,647,000.

Net unrealized appreciation of investment securities for tax purposes was $83,309,000, consisting of unrealized gains of $156,520,000 on securities that had risen in value since their purchase and $73,211,000 in unrealized losses on securities that had fallen in value since their purchase.

E. During the year ended December 31, 2009, the fund purchased $824,380,000 of investment securities and sold $650,514,000 of investment securities, other than temporary cash investments.

68


Mid-Cap Growth Index Fund

F. Capital share transactions for each class of shares were:       
      Year Ended December 31, 
    2009    2008 
  Amount  Shares  Amount  Shares 
  ($000)  (000)  ($000)  (000) 
Investor Shares         
Issued  239,949  15,221  294,655  14,349 
Issued in Lieu of Cash Distributions  2,408  126  1,177  92 
Redeemed  (110,123)  (7,151)  (178,487)  (9,222) 
Net Increase (Decrease)—Investor Shares  132,234  8,196  117,345  5,219 
ETF Shares         
Issued  310,206  8,211  745,420  14,904 
Issued in Lieu of Cash Distributions  —  —  —  — 
Redeemed  (267,580)  (7,000)  (440,988)  (8,600) 
Net Increase (Decrease)—ETF Shares  42,626  1,211  304,432  6,304 

G. In preparing the financial statements as of December 31, 2009, management considered the impact of subsequent events occurring through February 12, 2010, for potential recognition or disclosure in these financial statements.

69


Mid-Cap Value Index Fund

Fund Profile
As of December 31, 2009

Share-Class Characteristics   
 
  Investor  ETF 
  Shares  Shares 
Ticker Symbol  VMVIX  VOE 
Expense Ratio1  0.30%  0.15% 
30-Day SEC Yield  1.88%  2.02% 

Portfolio Characteristics     
      DJ 
    MSCI US  U.S. Total 
    Mid Cap  Market 
  Fund Value Index  Index 
Number of Stocks  259  259  4,201 
Median Market Cap  $4.6B  $4.6B  $30.7B 
Price/Earnings Ratio 428.4x  429.2x  35.7x 
Price/Book Ratio  1.4x  1.4x  2.1x 
Return on Equity  12.6%  12.6%  19.3% 
Earnings Growth Rate  1.2%  1.2%  8.1% 
Dividend Yield  2.1%  2.1%  1.8% 
Foreign Holdings  0.0%  0.0%  0.0% 
Turnover Rate  47%  —  — 
Short-Term Reserves  0.0%  —  — 

Sector Diversification (% of equity exposure) 
    MSCI US  DJ 
    Mid Cap  U.S. Total 
    Value  Market 
  Fund  Index  Index 
Consumer       
Discretionary  13.1%  13.1%  10.3% 
Consumer Staples  5.8  5.8  9.9 
Energy  6.4  6.4  10.6 
Financials  29.8  29.8  16.0 
Health Care  4.6  4.6  12.6 
Industrials  9.3  9.3  10.6 
Information       
Technology  9.2  9.2  19.3 
Materials  8.2  8.2  4.0 
Telecommunication       
Services  1.4  1.4  2.9 
Utilities  12.2  12.2  3.8 

Volatility Measures     
    DJ 
  MSCI US  U.S. Total 
  Mid Cap  Market 
  Value Index  Index 
R-Squared  1.00  0.94 
Beta  1.00  1.18 

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) 
Seagate Technology  Computer Storage   
  & Peripherals  1.0% 
Hartford Financial  Multi-line Insurance   
Services Group Inc.    1.0 
HCP Inc.  Specialized REITs  1.0 
Computer Sciences Corp.  Data Processing &   
  Outsourced   
  Services  0.9 
Bunge Ltd.  Agricultural   
  Products  0.9 
Liberty Media Corp.  Catalog Retail  0.9 
Discover Financial  Consumer Finance   
Services    0.9 
AmerisourceBergen  Health Care   
Corp. Class A  Distributors  0.8 
Dover Corp.  Industrial   
  Machinery  0.8 
H&R Block Inc.  Specialized   
  Consumer Services  0.8 
Top Ten    9.0% 

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 0.30% for
Investor Shares and 0.14% for ETF Shares.

70


Mid-Cap Value 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: August 24, 2006, Through December 31, 2009
Initial Investment of $10,000


    Average Annual Total Returns   
    Periods Ended December 31, 2009   
        Final Value 
    One  Since  of a $10,000 
    Year  Inception  Investment 
  Mid-Cap Value Index Fund Investor       
  Shares  37.61%  -1.92%  $9,372 
••••••••  Dow Jones U.S. Total Stock Market       
  Index  29.35  -1.48  9,511 
 
 
– – – –  Mid-Cap MSCI US Value Mid Cap Funds Value Average Index  36.14 37.84  -1.55 -1.78  9,490 9,414 

Mid-Cap Value Funds Average: Derived from data provided by Lipper Inc.
Performance for the fund’s Investor Shares and comparative standards is calculated since the Investor 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.

71


Mid-Cap Value Index Fund

    Since  Final Value 
  One  Inception  of a $10,000 
  Year  (8/17/2006)  Investment 
Mid-Cap Value Index Fund       
ETF Shares Net Asset Value  37.75%  -1.94%  $9,361 
Dow Jones U.S. Total Stock Market Index  29.35  -1.59  9,474 
MSCI US Mid Cap Value Index  37.84  -1.93  9,362 

Performance for the fund’s ETF Shares and comparative standards is calculated since the ETF Shares’ inception.
For more information about how the ETF Shares' market prices have compared with their net asset value, visit www.vanguard.com, select
your ETF, and then select the Performance tab. The Premium/Discount table there shows the percentages of days on which the ETF Shares'
market price was above or below the NAV.

Cumulative Returns of ETF Shares: August 17, 2006, Through December 31, 2009

  One  Since 
  Year  Inception 
Mid-Cap Value Index Fund     
ETF Shares Market Price  37.98%  -6.32% 
Mid-Cap Value Index Fund     
ETF Shares Net Asset Value  37.75  -6.39 
MSCI US Mid Cap Value Index  37.84  -6.38 

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

Fiscal-Year Total Returns (%): August 24, 2006, 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.

72


Mid-Cap Value 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 (99.9%)     
Consumer Discretionary (13.1%)   
  H&R Block Inc.  379,593  8,586 
  Mattel Inc.  407,535  8,143 
  Starwood Hotels &     
  Resorts Worldwide Inc.  211,521  7,735 
*  Liberty Media Corp. -     
  Interactive  641,604  6,955 
  Genuine Parts Co.  180,612  6,856 
  Whirlpool Corp.  83,812  6,760 
  Harley-Davidson Inc.  265,570  6,692 
  Ltd Brands Inc.  309,449  5,954 
  Darden Restaurants Inc.  150,055  5,263 
  Newell Rubbermaid Inc.  314,399  4,719 
  Hasbro Inc.  142,545  4,570 
  Black & Decker Corp.  68,119  4,416 
  Autoliv Inc.  96,332  4,177 
  Wyndham Worldwide Corp.  202,220  4,079 
*  Royal Caribbean Cruises Ltd. 157,346  3,978 
  Gannett Co. Inc.  265,775  3,947 
  American Eagle     
  Outfitters Inc.  210,703  3,578 
  Abercrombie & Fitch Co.  99,491  3,467 
  Leggett & Platt Inc.  167,933  3,426 
*  Mohawk Industries Inc.  65,873  3,136 
  Washington Post Co.     
  Class B  6,885  3,027 
*  Interpublic Group     
  of Cos. Inc.  357,736  2,640 
*  Liberty Media Corp. - Starz  56,000  2,584 
*  AutoNation Inc.  131,011  2,509 
  Lennar Corp. Class A  162,987  2,081 
  Foot Locker Inc.  176,280  1,964 
  Virgin Media Inc.  110,819  1,865 
  DR Horton Inc.  161,616  1,757 
  Brinker International Inc.  115,695  1,726 
*  Toll Brothers Inc.  77,371  1,455 
  Wendy’s/Arby’s Group Inc.     
  Class A  293,859  1,378 
  Pulte Homes Inc.  135,477  1,355 

*  Hyatt Hotels Corp. Class A  43,063  1,284 
*  Goodyear Tire & Rubber Co.  90,836  1,281 
  Weight Watchers     
  International Inc.  39,452  1,150 
*  Penn National Gaming Inc.  38,008  1,033 
*  Lamar Advertising Co.     
  Class A  28,757  894 
      136,420 
Consumer Staples (5.8%)     
  Bunge Ltd.  150,050  9,578 
  JM Smucker Co.  134,646  8,314 
  Mead Johnson Nutrition Co.     
  Class A  115,762  5,059 
  McCormick & Co. Inc.  133,897  4,838 
  Church & Dwight Co. Inc.  79,594  4,811 
  Dr Pepper Snapple     
  Group Inc.  143,800  4,070 
  Tyson Foods Inc. Class A  330,101  4,050 
*  Ralcorp Holdings Inc.  64,090  3,827 
*  Constellation Brands Inc.     
  Class A  223,091  3,554 
  SUPERVALU Inc.  240,007  3,051 
  Alberto-Culver Co. Class B  100,010  2,929 
*  Smithfield Foods Inc.  168,370  2,558 
  Hormel Foods Corp.  54,343  2,089 
  PepsiAmericas Inc.  70,485  2,062 
      60,790 
Energy (6.4%)     
  El Paso Corp.  793,852  7,804 
*  Newfield Exploration Co.  150,188  7,244 
*  Nabors Industries Ltd.  321,575  7,039 
*  Pride International Inc.  196,659  6,275 
  Pioneer Natural     
  Resources Co.  130,269  6,275 
  Cimarex Energy Co.  94,424  5,002 
*  Kinder Morgan     
  Management LLC  85,270  4,659 
  Arch Coal Inc.  183,943  4,093 
  Sunoco Inc.  132,350  3,454 
  BJ Services Co.  165,366  3,076 

73


Mid-Cap Value Index Fund

      Market 
      Value • 
    Shares  ($000) 
  Tidewater Inc.  58,537  2,807 
*  Forest Oil Corp.  120,727  2,686 
  Cabot Oil & Gas Corp.  41,084  1,791 
*  Rowan Cos. Inc.  64,233  1,454 
  Tesoro Corp.  78,802  1,068 
  Patterson-UTI Energy Inc.  60,720  932 
*  SandRidge Energy Inc.  60,916  574 
      66,233 
Financials (29.8%)     
  Hartford Financial Services     
  Group Inc.  435,043  10,119 
  HCP Inc.  329,195  10,054 
  Discover Financial Services  608,111  8,945 
  Lincoln National Corp.  342,013  8,509 
  Fifth Third Bancorp  855,385  8,340 
  Ventas Inc.  177,225  7,752 
  AvalonBay Communities Inc.  90,498  7,431 
  Unum Group  375,208  7,324 
  XL Capital Ltd. Class A  387,389  7,101 
  Plum Creek Timber Co. Inc.  184,328  6,960 
  ProLogis  501,311  6,863 
  New York Community     
  Bancorp Inc.  455,159  6,604 
  People’s United     
  Financial Inc.  394,407  6,587 
*  Genworth Financial Inc.     
  Class A  544,939  6,185 
  Kimco Realty Corp.  454,840  6,154 
  Health Care REIT Inc.  135,608  6,010 
*  SLM Corp.  529,400  5,966 
  Everest Re Group Ltd.  68,896  5,903 
  PartnerRe Ltd.  75,993  5,674 
  KeyCorp  994,641  5,520 
  Comerica Inc.  171,084  5,059 
  Willis Group Holdings Ltd.  190,331  5,021 
  Legg Mason Inc.  161,518  4,871 
  Federal Realty     
  Investment Trust  68,964  4,670 
  Regions Financial Corp.  874,388  4,626 
  Cincinnati Financial Corp.  174,921  4,590 
  SL Green Realty Corp.  86,988  4,370 
  Axis Capital Holdings Ltd.  153,126  4,350 
  Nationwide Health     
  Properties Inc.  121,503  4,275 
  AMB Property Corp.  165,575  4,230 
  Torchmark Corp.  93,669  4,117 
  Liberty Property Trust  126,407  4,046 
  WR Berkley Corp.  163,111  4,019 
  Assurant Inc.  133,512  3,936 
  Reinsurance Group of     
  America Inc. Class A  82,394  3,926 
  Macerich Co.  107,021  3,847 
  Rayonier Inc.  89,648  3,780 
  RenaissanceRe Holdings Ltd.  70,557  3,750 
*  Markel Corp.  10,557  3,589 
  HCC Insurance Holdings Inc. 127,142  3,556 

  Regency Centers Corp.  99,988  3,506 
*  Arch Capital Group Ltd.  48,343  3,459 
  First American Corp.  102,503  3,394 
*  First Horizon National Corp.  251,231  3,367 
  Fidelity National     
  Financial Inc. Class A  248,050  3,339 
  Transatlantic Holdings Inc.  63,876  3,329 
  Hospitality Properties Trust  138,269  3,278 
  Commerce Bancshares Inc.  79,828  3,091 
  Duke Realty Corp.  253,570  3,086 
^  Realty Income Corp.  118,064  3,059 
  Cullen/Frost Bankers Inc.  60,813  3,041 
  White Mountains Insurance     
  Group Ltd.  9,026  3,003 
  Marshall & Ilsley Corp.  542,416  2,956 
  Federated Investors Inc.     
  Class B  104,815  2,882 
  Validus Holdings Ltd.  105,869  2,852 
  UDR Inc.  170,456  2,802 
  Huntington Bancshares Inc.  767,253  2,800 
  Old Republic     
  International Corp.  272,384  2,735 
  Digital Realty Trust Inc.  53,234  2,677 
*,^  American International     
  Group Inc.  89,133  2,672 
  Raymond James     
  Financial Inc.  111,617  2,653 
  Weingarten Realty Investors  128,840  2,550 
  City National Corp.  49,535  2,259 
  American Financial     
  Group Inc.  85,410  2,131 
*  NASDAQ OMX Group Inc.  104,441  2,070 
  TCF Financial Corp.  131,001  1,784 
  Zions Bancorporation  136,049  1,746 
  Associated Banc-Corp  137,189  1,510 
  BOK Financial Corp.  30,571  1,453 
  Mercury General Corp.  30,928  1,214 
  Capitol Federal Financial  25,104  790 
  TFS Financial Corp.  52,261  634 
      310,751 
Health Care (4.6%)     
  AmerisourceBergen Corp.     
  Class A  336,537  8,774 
*  Humana Inc.  192,076  8,430 
*  Coventry Health Care Inc.  169,342  4,113 
*  King Pharmaceuticals Inc.  280,931  3,447 
  Omnicare Inc.  135,132  3,268 
*  Vertex Pharmaceuticals Inc.  76,239  3,267 
  Universal Health     
  Services Inc. Class B  102,819  3,136 
*  Health Net Inc.  117,582  2,739 
*  CareFusion Corp.  102,007  2,551 
*  Charles River Laboratories     
  International Inc.  74,603  2,513 
*  Dendreon Corp.  74,166  1,949 

74


Mid-Cap Value Index Fund

      Market 
      Value • 
    Shares  ($000) 
*  Inverness Medical     
  Innovations Inc.  43,277  1,796 
  Pharmaceutical Product     
  Development Inc.  42,031  985 
*  Endo Pharmaceuticals     
  Holdings Inc.  46,317  950 
      47,918 
Industrials (9.3%)     
  Dover Corp.  210,732  8,768 
  Cooper Industries PLC  188,772  8,049 
  Rockwell Automation Inc.  160,716  7,550 
  Goodrich Corp.  91,239  5,862 
  Textron Inc.  305,948  5,755 
  Masco Corp.  407,459  5,627 
  Pitney Bowes Inc.  234,415  5,335 
  RR Donnelley & Sons Co.  232,431  5,176 
  Equifax Inc.  143,075  4,420 
*  URS Corp.  95,456  4,250 
  Avery Dennison Corp.  114,881  4,192 
  Stanley Works  80,859  4,165 
  Cintas Corp.  155,684  4,055 
  KBR Inc.  181,609  3,451 
  Pentair Inc.  105,744  3,415 
  Harsco Corp.  90,930  2,931 
  Ryder System Inc.  63,348  2,608 
  Manpower Inc.  44,373  2,422 
  Pall Corp.  66,760  2,417 
*  Owens Corning  86,854  2,227 
  SPX Corp.  27,806  1,521 
*  Hertz Global Holdings Inc.  72,813  868 
*  Terex Corp.  42,689  846 
*  Spirit Aerosystems     
  Holdings Inc. Class A  41,369  822 
      96,732 
Information Technology (9.2%)     
  Seagate Technology  560,881  10,202 
*  Computer Sciences Corp.  171,745  9,881 
  Xilinx Inc.  312,487  7,831 
*  Affiliated Computer     
  Services Inc. Class A  103,073  6,152 
  Microchip Technology Inc.  207,127  6,019 
*  Avnet Inc.  171,049  5,159 
*  SAIC Inc.  230,815  4,372 
*  Flextronics International Ltd.  596,838 4,363 
*  Arrow Electronics Inc.  135,441  4,010 
  Jabil Circuit Inc.  205,592  3,571 
*  Micron Technology Inc.  335,568  3,544 
  Total System Services Inc.  189,721  3,276 
*  Citrix Systems Inc.  72,533  3,018 
*  Ingram Micro Inc.  166,120  2,899 
*  LSI Corp.  479,750  2,883 
*  AOL Inc.  122,029  2,841 
  Harris Corp.  52,465  2,495 
*  Tellabs Inc.  426,112  2,420 
*  Lexmark International Inc.     
  Class A  88,412  2,297 
*  IAC/InterActiveCorp  108,330  2,219 
  Intersil Corp. Class A  138,489  2,124 
  Molex Inc. Class A  83,678  1,601 
  Molex Inc.  70,379  1,517 
*  NCR Corp.  63,312  705 
      95,399 
Materials (8.2%)     
  Vulcan Materials Co.  141,506  7,453 
  Cliffs Natural Resources Inc.  148,303  6,835 
*  Owens-Illinois Inc.  190,633  6,266 
  Lubrizol Corp.  76,568  5,586 
  MeadWestvaco Corp.  193,726  5,546 
  Ball Corp.  101,228  5,234 
  Eastman Chemical Co.  82,269  4,956 
  CF Industries Holdings Inc.  52,117  4,731 
  Allegheny Technologies Inc.  99,931  4,474 
  Airgas Inc.  83,376  3,969 
  Sealed Air Corp.  179,761  3,930 
  International Flavors     
  & Fragrances Inc.  89,431  3,679 
  Bemis Co. Inc.  122,268  3,625 
  Sonoco Products Co.  113,096  3,308 
  Albemarle Corp.  82,919  3,016 
  Valspar Corp.  108,112  2,934 
  FMC Corp.  50,681  2,826 
  Reliance Steel &     
  Aluminum Co.  48,665  2,103 
  Greif Inc. Class A  27,604  1,490 
  Steel Dynamics Inc.  76,544  1,356 
  Commercial Metals Co.  82,609  1,293 
*  Titanium Metals Corp.  86,158  1,079 
      85,689 
Telecommunication Services (1.3%)   
  Windstream Corp.  494,464  5,434 
  Frontier     
  Communications Corp.  353,644  2,762 
  Telephone & Data     
  Systems Inc.  58,483  1,984 
  Telephone & Data     
  Systems Inc. - Special     
  Common Shares  51,962  1,569 
*  Level 3     
  Communications Inc.  922,942  1,412 
*  United States Cellular Corp.  21,292  903 
      14,064 
Utilities (12.2%)     
  Questar Corp.  197,251  8,200 
  DTE Energy Co.  186,207  8,117 
*  NRG Energy Inc.  300,332  7,091 
  Wisconsin Energy Corp.  132,361  6,596 
  CenterPoint Energy Inc.  415,876  6,034 
  Northeast Utilities  198,445  5,118 
  Oneok Inc.  113,355  5,052 
  SCANA Corp.  131,774  4,965 
  NiSource Inc.  311,725  4,794 

75


Mid-Cap Value Index Fund

        Market 
        Value • 
      Shares  ($000) 
  MDU Resources Group Inc.  197,979  4,672 
  Allegheny Energy Inc.    191,881  4,505 
  NSTAR    120,923  4,450 
  American Water       
  Works Co. Inc.    197,674  4,430 
  Pepco Holdings Inc.    250,004  4,213 
  Pinnacle West Capital Corp.  114,575  4,191 
  National Fuel Gas Co.    81,755  4,088 
  CMS Energy Corp.    259,170  4,059 
  OGE Energy Corp.    109,327  4,033 
  Alliant Energy Corp.    125,244  3,790 
  TECO Energy Inc.    229,894  3,729 
  Integrys Energy Group Inc.  86,523  3,633 
  DPL Inc.    131,301  3,624 
  Energen Corp.    77,131  3,610 
  NV Energy Inc.    265,626  3,288 
  UGI Corp.    122,745  2,969 
  Aqua America Inc.    153,883  2,694 
*  Mirant Corp.    164,281  2,509 
*  RRI Energy Inc.    397,940  2,276 
*  Dynegy Inc. Class A    375,666  680 
        127,410 
Total Common Stocks       
(Cost $965,184)      1,041,406 
Temporary Cash Investment (0.4%)   
Money Market Fund (0.4%)     
1,2  Vanguard Market       
  Liquidity Fund, 0.187%     
  (Cost $3,717)  3,717,150  3,717 
Total Investments (100.3%)     
(Cost $968,901)      1,045,123 
Other Assets and Liabilities (-0.3%)   
Other Assets      11,201 
Liabilities2      (13,988) 
        (2,787) 
Net Assets (100%)      1,042,336 

At December 31, 2009, net assets consisted of: 
  Amount 
  ($000) 
Paid-in Capital  1,182,518 
Overdistributed Net Investment Income  (677) 
Accumulated Net Realized Losses  (215,727) 
Unrealized Appreciation (Depreciation)  76,222 
Net Assets  1,042,336 
 
 
Investor Shares—Net Assets   
Applicable to 26,328,106 outstanding   
$.001 par value shares of beneficial   
interest (unlimited authorization)  459,421 
Net Asset Value Per Share—   
Investor Shares  $17.45 
 
 
ETF Shares—Net Assets   
Applicable to 13,154,282 outstanding   
$.001 par value shares of beneficial   
interest (unlimited authorization)  582,915 
Net Asset Value Per Share—   
ETF Shares  $44.31 

• 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 $3,043,000.
1 Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by Vanguard. Rate shown is the
7-day yield.
2 Includes $3,233,000 of collateral received for securities on loan.
REIT—Real Estate Investment Trust.
See accompanying Notes, which are an integral part of the Financial Statements.
76


Mid-Cap Value Index Fund

Statement of Operations

  Year Ended 
  December 31, 2009 
  ($000) 
Investment Income   
Income   
Dividends  19,574 
Interest1  3 
Security Lending  74 
Total Income  19,651 
Expenses   
The Vanguard Group—Note B   
Investment Advisory Services  94 
Management and Administrative—Investor Shares  740 
Management and Administrative—ETF Shares  276 
Marketing and Distribution—Investor Shares  88 
Marketing and Distribution—ETF Shares  139 
Custodian Fees  156 
Auditing Fees  25 
Shareholders’ Reports and Proxies—Investor Shares  31 
Shareholders’ Reports and Proxies—ETF Shares  72 
Trustees’ Fees and Expenses  1 
Total Expenses  1,622 
Net Investment Income  18,029 
Realized Net Gain (Loss)   
Investment Securities Sold  714 
Futures Contracts  127 
Realized Net Gain (Loss)  841 
Change in Unrealized Appreciation (Depreciation) of Investment Securities  285,591 
Net Increase (Decrease) in Net Assets Resulting from Operations  304,461 
1 Interest income from an affiliated company of the fund was $3,000.   

See accompanying Notes, which are an integral part of the Financial Statements.
77


Mid-Cap Value 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  18,029  14,689 
Realized Net Gain (Loss)  841  (66,664) 
Change in Unrealized Appreciation (Depreciation)  285,591  (173,111) 
Net Increase (Decrease) in Net Assets Resulting from Operations  304,461  (225,086) 
Distributions     
Net Investment Income     
Investor Shares  (8,157)  (5,334) 
ETF Shares  (10,955)  (9,346) 
Realized Capital Gain     
Investor Shares  —  — 
ETF Shares  —  — 
Total Distributions  (19,112)  (14,680) 
Capital Share Transactions     
Investor Shares  127,845  116,809 
ETF Shares  53,303  288,413 
Net Increase (Decrease) from Capital Share Transactions  181,148  405,222 
Total Increase (Decrease)  466,497  165,456 
Net Assets     
Beginning of Period  575,839  410,383 
End of Period1  1,042,336  575,839 

1 Net Assets—End of Period includes undistributed (overdistributed) net investment income of ($677,000) and $406,000.

See accompanying Notes, which are an integral part of the Financial Statements.
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Mid-Cap Value Index Fund

Financial Highlights

Investor Shares         
        Aug. 24, 
        20061 to 
  Year Ended December 31,  Dec. 31, 
For a Share Outstanding Throughout Each Period  2009  2008  2007  2006 
Net Asset Value, Beginning of Period  $12.92  $20.95  $22.34  $20.00 
Investment Operations         
Net Investment Income  .300  .4662  .427  .140 
Net Realized and Unrealized Gain (Loss) on Investments  4.551  (8.156)  (1.407)  2.340 
Total from Investment Operations  4.851  (7.690)  (.980)  2.480 
Distributions         
Dividends from Net Investment Income  (.321)  (.340)  (.410)  (.140) 
Distributions from Realized Capital Gains  —  —  —  — 
Total Distributions  (.321)  (.340)  (.410)  (.140) 
Net Asset Value, End of Period  $17.45  $12.92  $20.95  $22.34 
 
Total Return3  37.61%  -36.64%  -4.37%  12.40% 
 
Ratios/Supplemental Data         
Net Assets, End of Period (Millions)  $459  $217  $195  $65 
Ratio of Total Expenses to Average Net Assets  0.30%  0.25%  0.24%  0.26%4 
Ratio of Net Investment Income to Average Net Assets  2.14%  2.73%  2.48%  2.50%4 
Portfolio Turnover Rate5  47%  45%  46%  16% 

1 Inception.
2 Calculated based on average shares outstanding.
3 Total returns do not include the account service fee that may be applicable to certain accounts with balances below $10,000.
4 Annualized.
5 Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares,
including ETF Creation Units.

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

79


Mid-Cap Value Index Fund

Financial Highlights

ETF Shares         
        Aug. 17, 
        20061 to 
  Year Ended December 31,  Dec. 31, 
For a Share Outstanding Throughout Each Period  2009  2008  2007  2006 
Net Asset Value, Beginning of Period  $32.80  $53.16  $56.67  $51.00 
Investment Operations         
Net Investment Income  .812  1.2612  1.133  .373 
Net Realized and Unrealized Gain (Loss) on Investments  11.562  (20.716)  (3.553)  5.661 
Total from Investment Operations  12.374  (19.455)  (2.420)  6.034 
Distributions         
Dividends from Net Investment Income  (.864)  (.905)  (1.090)  (.364) 
Distributions from Realized Capital Gains  —  —  —  — 
Total Distributions  (.864)  (.905)  (1.090)  (.364) 
Net Asset Value, End of Period  $44.31  $32.80  $53.16  $56.67 
 
Total Return  37.75%  -36.53%  -4.27%  11.84% 
 
Ratios/Supplemental Data         
Net Assets, End of Period (Millions)  $583  $359  $215  $46 
Ratio of Total Expenses to Average Net Assets  0.14%  0.12%  0.13%  0.13%3 
Ratio of Net Investment Income to Average Net Assets  2.30%  2.86%  2.59%  2.63%3 
Portfolio Turnover Rate4  47%  45%  46%  16% 

1 Inception.
2 Calculated based on average shares outstanding.
3 Annualized.
4 Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares,
including ETF Creation Units.

See accompanying Notes, which are an integral part of the Financial Statements.
80


Mid-Cap Value Index Fund

Notes to Financial Statements

Vanguard Mid-Cap Value Index Fund is registered under the Investment Company Act of 1940 as an open-end investment company, or mutual fund. The fund offers two classes of shares: Investor Shares and ETF Shares. Investor Shares are available to any investor who meets the fund’s minimum purchase requirements. ETF Shares are listed for trading on the NYSE Arca, Inc.; they can be purchased and sold through a broker.

A. The following significant accounting policies conform to generally accepted accounting principles for

U.S. mutual funds. The fund consistently follows such policies in preparing its financial statements.

1. Security Valuation: Securities are valued as of the close of trading on the New York Stock Exchange (generally 4 p.m., Eastern time) on the valuation date. Equity securities are valued at the latest quoted sales prices or official closing prices taken from the primary market in which each security trades; such securities not traded on the valuation date are valued at the mean of the latest quoted bid and asked prices. Securities for which market quotations are not readily available, or whose values have been materially affected by events occurring before the fund’s pricing time but after the close of the securities’ primary markets, are valued by methods deemed by the board of trustees to represent fair value. Investments in Vanguard Market Liquidity Fund are valued at that fund’s net asset value.

2. Futures Contracts: The fund uses index futures contracts to a limited extent, with the objectives of maintaining full exposure to the stock market, enhancing returns, maintaining liquidity, and minimizing transaction costs. The fund may purchase futures contracts to immediately invest incoming cash in the market, or sell futures in response to cash outflows, thereby simulating a fully invested position in the underlying index while maintaining a cash balance for liquidity. The fund may seek to enhance returns by using futures contracts instead of the underlying securities when futures are believed to be priced more attractively than the underlying securities. The primary risks associated with the use of futures contracts are imperfect correlation between changes in market values of stocks held by the fund and the prices of futures contracts, and the possibility of an illiquid market.

Futures contracts are valued at their quoted daily settlement prices. The aggregate principal amounts of the contracts are not recorded in the Statement of Net Assets. Fluctuations in the value of the contracts are recorded in the Statement of Net Assets as an asset (liability) and in the Statement of Operations as unrealized appreciation (depreciation) until the contracts are closed, when they are recorded as realized futures gains (losses).

3. Federal Income Taxes: The fund intends to continue to qualify as a regulated investment company and distribute all of its taxable income. Management has analyzed the fund’s tax positions taken for all open federal income tax years (December 31, 2006–2009), and has concluded that no provision for federal income tax is required in the fund’s financial statements.

4. Distributions: Distributions to shareholders are recorded on the ex-dividend date.

5. Security Lending: The fund may lend its securities to qualified institutional borrowers to earn additional income. Security loans are required to be secured at all times by collateral at least equal to the market value of securities loaned. The fund invests cash collateral received in Vanguard Market Liquidity Fund, and records a liability for the return of the collateral, during the period the securities are on loan. Security lending income represents the income earned on investing cash collateral, less expenses associated with the loan.

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Mid-Cap Value Index Fund

6. Other: Dividend income is recorded on the ex-dividend date. Interest income includes income distributions received from Vanguard Market Liquidity Fund and is accrued daily. Security transactions are accounted for on the date securities are bought or sold. Costs used to determine realized gains (losses) on the sale of investment securities are those of the specific securities sold.

Each class of shares has equal rights as to assets and earnings, except that each class separately bears certain class-specific expenses related to maintenance of shareholder accounts (included in Management and Administrative expenses), shareholder reporting, and proxies. Marketing and distribution expenses are allocated to each class of shares based on a method approved by the board of trustees. Income, other non-class-specific expenses, and gains and losses on investments are allocated to each class of shares based on its relative net assets.

B. The Vanguard Group furnishes at cost investment advisory, corporate management, administrative, marketing, and distribution services. The costs of such services are allocated to the fund under methods approved by the board of trustees. The fund has committed to provide up to 0.40% of its net assets in capital contributions to Vanguard. At December 31, 2009, the fund had contributed capital of $191,000 to Vanguard (included in Other Assets), representing 0.02% of the fund’s net assets and 0.08% of Vanguard’s capitalization. The fund’s trustees and officers are also directors and officers of Vanguard.

C. Various inputs may be used to determine the value of the fund’s investments. These inputs are summarized in three broad levels for financial statement purposes. The inputs or methodologies used to value securities are not necessarily an indication of the risk associated with investing in those securities.

Level 1—Quoted prices in active markets for identical securities.

Level 2—Other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).

Level 3—Significant unobservable inputs (including the fund’s own assumptions used to determine the fair value of investments).

At December 31, 2009, 100% of the fund’s investments were valued based on Level 1 inputs.

D. Distributions are determined on a tax basis and may differ from net investment income and realized capital gains for financial reporting purposes. Differences may be permanent or temporary. Permanent differences are reclassified among capital accounts in the financial statements to reflect their tax character. Temporary differences arise when certain items of income, expense, gain, or loss are recognized in different periods for financial statement and tax purposes; these differences will reverse at some time in the future. Differences in classification may also result from the treatment of short-term gains as ordinary income for tax purposes.

During the year ended December 31, 2009, the fund realized $109,806,000 of net capital gains resulting from in-kind redemptions—in which shareholders exchanged fund shares for securities held by the fund rather than for cash. Because such gains are not taxable to the fund, and are not distributed to shareholders, they have been reclassified from accumulated net realized losses to paid-in capital.

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Mid-Cap Value Index Fund

For tax purposes, at December 31, 2009, the fund had $254,000 of ordinary income available for distribution. The fund had available capital loss carryforwards totaling $174,039,000 to offset future net capital gains of $11,000 through December 31, 2014, $390,000 through December 31, 2015, $47,840,000 through December 31, 2016, and $125,798,000 through December 31, 2017. In addition, the fund realized losses of $37,513,000 during the period from November 1, 2009, through December 31, 2009, which are deferred and will be treated as realized for tax purposes in fiscal 2010.

At December 31, 2009, the cost of investment securities for tax purposes was $973,076,000. Net unrealized appreciation of investment securities for tax purposes was $72,047,000, consisting of unrealized gains of $120,057,000 on securities that had risen in value since their purchase and $48,010,000 in unrealized losses on securities that had fallen in value since their purchase.

E. During the year ended December 31, 2009, the fund purchased $909,221,000 of investment securities and sold $729,707,000 of investment securities, other than temporary cash investments.

F. Capital share transactions for each class of shares were:       
  Year Ended December 31, 
  2009  2008 
  Amount  Shares  Amount  Shares 
  ($000)  (000)  ($000)  (000) 
Investor Shares         
Issued  232,424  16,895  195,334  11,939 
Issued in Lieu of Cash Distributions  7,299  424  4,764  386 
Redeemed  (111,878)  (7,760)  (83,289)  (4,876) 
Net Increase (Decrease)—Investor Shares  127,845  9,559  116,809  7,449 
ETF Shares         
Issued  413,523  10,904  475,011  11,404 
Issued in Lieu of Cash Distributions  —  —  —  — 
Redeemed  (360,220)  (8,700)  (186,598)  (4,500) 
Net Increase (Decrease)—ETF Shares  53,303  2,204  288,413  6,904 

G. In preparing the financial statements as of December 31, 2009, management considered the
impact of subsequent events occurring through February 12, 2010, for potential recognition or
disclosure in these financial statements.

83


Report of Independent Registered
Public Accounting Firm

To the Trustees of Vanguard Index Funds and the Shareholders of Vanguard Extended Market Index Fund, Vanguard Mid-Cap Index Fund, Vanguard Mid-Cap Growth Index Fund and Vanguard Mid-Cap Value Index Fund:

In our opinion, the accompanying statement of net assets—investments summary and statements of net assets and the related statements of operations and of changes in net assets and the financial highlights present fairly, in all material respects, the financial position of Vanguard Extended Market Index Fund, Vanguard Mid-Cap Index Fund, Vanguard Mid-Cap Growth Index Fund and Vanguard Mid-Cap Value Index Fund (constituting separate portfolios of Vanguard Index Funds, hereafter referred to as the “Funds”) at December 31, 2009, the results of each of their operations for the year then ended, the changes in each of their net assets for each of the two years in the period then ended and the financial highlights for each of the periods indicated, in conformity with accounting principles generally accepted in the United States of America. These financial statements and financial highlights (hereafter referred to as “financial statements”) are the responsibility of the Funds’ management; our responsibility is to express an opinion on these financial statements based on our audits. We conducted our audits of these financial statements in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, and evaluating the overall financial statement presentation.

We believe that our audits, which included confirmation of securities at December 31, 2009 by correspondence with the custodian and broker and by agreement to the underlying ownership records of Vanguard Market Liquidity Fund, provide a reasonable basis for our opinion.

PricewaterhouseCoopers LLP
Philadelphia, Pennsylvania

February 12, 2010

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Special 2009 tax information (unaudited) for Vanguard U.S. Stock Index Funds (Mid-Capitalization Portfolios)

This information for the fiscal year ended December 31, 2009, is included pursuant to provisions of the Internal Revenue Code.

The funds distributed qualified dividend income to shareholders during the fiscal year as follows:

  Qualified Dividend Income 
Index Fund  ($000) 
Extended Market  112,725 
Mid-Cap  228,874 
Mid-Cap Growth  6,453 
Mid-Cap Value  16,990 

For corporate shareholders, the percentage of investment income (dividend income plus short-term gains, if any) that qualifies for the dividends-received deduction is as follows:

Index Fund  Percentage 
Extended Market  81.0% 
Mid-Cap  92.1 
Mid-Cap Growth  100.0 
Mid-Cap Value  84.4 

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Your Fund’s After-Tax Returns

This table presents returns for your fund both before and after taxes. The after-tax returns are shown in two ways: (1) assuming that an investor owned the fund during the entire period and paid taxes on the fund’s distributions, and (2) assuming that an investor paid taxes on the fund’s distributions and sold all shares at the end of each period.

Calculations are based on the highest individual federal income tax and capital gains tax rates in effect at the times of the distributions and the hypothetical sales. State and local taxes were not considered. After-tax returns reflect any qualified dividend income . (In the example, returns after the sale of fund shares may be higher than those assuming no sale. This occurs when the sale would have produced a capital loss. The calculation assumes that the investor received a tax deduction for the loss.) The table shows returns for Investor Shares only; returns for other share classes will differ. Please note that your actual after-tax returns will depend on your tax situation and may differ from those shown. Also note that if you own the fund in a tax-deferred account, such as an individual retirement account or a 401(k) plan, this information does not apply to you. Such accounts are not subject to current taxes.

Finally, keep in mind that a fund’s performance—whether before or after taxes—does not guarantee future results.

Average Annual Total Returns: U.S. Stock Index Funds Mid-Capitalization Portfolios

Periods Ended December 31, 2009

  One    Five  Ten 
  Year    Years  Years 
Extended Market Index Fund Investor Shares         
Returns Before Taxes  37.43%    2.06%  1.71% 
Returns After Taxes on Distributions  37.18    1.81  1.01 
Returns After Taxes on Distributions and Sale of Fund Shares  24.55    1.69  1.12 
 
  One    Five  Ten 
  Year    Years  Years 
Mid-Cap Index Fund Investor Shares         
Returns Before Taxes  40.22%    2.28%  6.13% 
Returns After Taxes on Distributions  39.98    2.04  5.52 
Returns After Taxes on Distributions and Sale of Fund Shares  26.45    1.91  5.05 
 
        Since 
    One    Inception 
    Year    (8/24/2006) 
Mid-Cap Growth Index Fund Investor Shares         
Returns Before Taxes    42.54%    -0.99% 
Returns After Taxes on Distributions    42.44    -1.06 
Returns After Taxes on Distributions and Sale of Fund Shares    27.79    -0.84 

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

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Average Annual Total Returns: U.S. Stock Index Funds Mid-Capitalization Portfolios
Periods Ended December 31, 2009

    Since 
  One  Inception 
  Year  (8/24/2006) 
Mid-Cap Value Index Fund Investor Shares     
Returns Before Taxes  37.61%  -1.92% 
Returns After Taxes on Distributions  37.17  -2.31 
Returns After Taxes on Distributions and Sale of Fund Shares  24.88  -1.73 

Total returns do not include any transaction or account fees that applied in the periods shown. Fund prospectuses provide information about
current fees.
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About Your Fund’s Expenses

As a shareholder of the fund, you incur ongoing costs, which include costs for portfolio management, administrative services, and shareholder reports (like this one), among others. Operating expenses, which are deducted from a fund’s gross income, directly reduce the investment return of the fund.

A fund’s expenses are expressed as a percentage of its average net assets. This figure is known as the expense ratio. The following examples are intended to help you understand the ongoing costs (in dollars) of investing in your fund and to compare these costs with those of other mutual funds. The examples are based on an investment of $1,000 made at the beginning of the period shown and held for the entire period.

The accompanying table illustrates your fund’s costs in two ways:

• Based on actual fund return. This section helps you to estimate the actual expenses that you paid over the period. The ”Ending Account Value“ shown is derived from the fund‘s actual return, and the third column shows the dollar amount that would have been paid by an investor who started with $1,000 in the fund. You may use the information here, together with the amount you invested, to estimate the expenses that you paid over the period.

To do so, simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number given for your fund under the heading ”Expenses Paid During Period.“

• Based on hypothetical 5% yearly return. This section is intended to help you compare your fund‘s costs with those of other mutual funds. It assumes that the fund had a yearly return of 5% before expenses, but that the expense ratio is unchanged. In this case—because the return used is not the fund’s actual return—the results do not apply to your investment. The example is useful in making comparisons because the Securities and Exchange Commission requires all mutual funds to calculate expenses based on a 5% return. You can assess your fund’s costs by comparing this hypothetical example with the hypothetical examples that appear in shareholder reports of other funds.

Note that the expenses shown in the table are meant to highlight and help you compare ongoing costs only and do not reflect transaction costs incurred by the fund for buying and selling securities. Further, the expenses do not include the account service fee described in the prospectus. If such a fee were applied to your account, your costs would be higher. Your fund does not charge transaction fees, such as purchase or redemption fees, nor does it carry a “sales load.” The calculations assume no shares were bought or sold during the period. Your actual costs may have been higher or lower, depending on the amount of your investment and the timing of any purchases or redemptions.

You can find more information about the fund’s expenses, including annual expense ratios, in the Financial Statements section of this report. For additional information on operating expenses and other shareholder costs, please refer to your fund’s current prospectus.

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Six Months Ended December 31, 2009       
  Beginning  Ending  Expenses 
  Account Value  Account Value  Paid During 
  6/30/2009  12/31/2009  Period 
Based on Actual Fund Return       
Extended Market Index Fund       
Investor Shares  $1,000.00  $1,259.04  $1.65 
Admiral Shares  1,000.00  1,260.15  0.63 
Signal Shares  1,000.00  1,260.53  0.63 
Institutional Shares  1,000.00  1,260.50  0.40 
ETF Shares  1,000.00  1,260.39  0.63 
Mid-Cap Index Fund       
Investor Shares  $1,000.00  $1,294.54  $1.56 
Admiral Shares  1,000.00  1,295.79  0.75 
Signal Shares  1,000.00  1,295.65  0.75 
Institutional Shares  1,000.00  1,296.42  0.41 
ETF Shares  1,000.00  1,295.79  0.75 
Mid-Cap Growth Index Fund       
Investor Shares  $1,000.00  $1,265.88  $1.66 
ETF Shares  1,000.00  1,266.97  0.74 
Mid-Cap Value Index Fund       
Investor Shares  $1,000.00  $1,322.82  $1.70 
ETF Shares  1,000.00  1,324.32  0.76 

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Six Months Ended December 31, 2009       
  Beginning  Ending  Expenses 
  Account Value  Account Value  Paid During 
  6/30/2009  12/31/2009  Period 
Based on Hypothetical 5% Yearly Return       
Extended Market Index Fund       
Investor Shares  $1,000.00  $1,023.74  $1.48 
Admiral Shares  1,000.00  1,024.65  0.56 
Signal Shares  1,000.00  1,024.65  0.56 
Institutional Shares  1,000.00  1,024.85  0.36 
ETF Shares  1,000.00  1,024.65  0.56 
Mid-Cap Index Fund       
Investor Shares  $1,000.00  $1,023.84  $1.38 
Admiral Shares  1,000.00  1,024.55  0.66 
Signal Shares  1,000.00  1,024.55  0.66 
Institutional Shares  1,000.00  1,024.85  0.36 
ETF Shares  1,000.00  1,024.55  0.66 
Mid-Cap Growth Index Fund       
Investor Shares  $1,000.00  $1,023.74  $1.48 
ETF Shares  1,000.00  1,024.55  0.66 
Mid-Cap Value Index Fund       
Investor Shares  $1,000.00  $1,023.74  $1.48 
ETF Shares  1,000.00  1,024.55  0.66 

The calculations are based on expenses incurred in the most recent six-month period. The funds’ annualized six-month expense ratios for that period are: for the Extended Market Index Fund, 0.29% for Investor Shares, 0.11% for Admiral Shares, 0.11% for Signal Shares, 0.07% for Institutional Shares, and 0.11% for ETF Shares; for the Mid-Cap Index Fund, 0.27% for Investor Shares, 0.13% for Admiral Shares, 0.13% for Signal Shares, 0.07% for Institutional Shares, and 0.13% for ETF Shares; for the Mid-Cap Growth Index Fund, 0.29% for Investor Shares and 0.13% for ETF Shares; and for the Mid-Cap Value Index Fund, 0.29% for Investor Shares and 0.13% for ETF Shares. The dollar amounts shown as “Expenses Paid” are equal to the annualized expense ratio multiplied by the average account value over the period, multiplied by the number of days in the most recent six-month period, then divided by the number of days in the most recent 12-month period.

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Glossary

30-Day SEC Yield. A fund’s 30-day SEC yield is derived using a formula specified by the U.S. Securities and Exchange Commission. Under the formula, data related to the fund’s security holdings in the previous 30 days are used to calculate the fund’s hypothetical net income for that period, which is then annualized and divided by the fund’s estimated average net assets over the calculation period. For the purposes of this calculation, a security’s income is based on its current market yield to maturity (in the case of bonds) or its projected dividend yield (for stocks). Because the SEC yield represents hypothetical annualized income, it will differ—at times significantly—from the fund’s actual experience. As a result, the fund’s income distributions may be higher or lower than implied by the SEC yield.

Beta. A measure of the magnitude of a fund’s past share-price fluctuations in relation to the ups and downs of a given market index. The index is assigned a beta of 1.00. Compared with a given index, a fund with a beta of 1.20 typically would have seen its share price rise or fall by 12% when the index rose or fell by 10%. For this report, beta is based on returns over the past 36 months for both the fund and the index. Note that a fund’s beta should be reviewed in conjunction with its R-squared (see definition). The lower the R-squared, the less correlation there is between the fund and the index, and the less reliable beta is as an indicator of volatility.

Dividend Yield. Dividend income earned by stocks, expressed as a percentage of the aggregate market value (or of net asset value, for a fund). The yield is determined by dividing the amount of the annual dividends by the aggregate value (or net asset value) at the end of the period. For a fund, the dividend yield is based solely on stock holdings and does not include any income produced by other investments.

Earnings Growth Rate. The average annual rate of growth in earnings over the past five years for the stocks now in a fund.

Equity Exposure. A measure that reflects a fund’s investments in stocks and stock futures. Any holdings in short-term reserves are excluded.

Expense Ratio. The percentage of a fund’s average net assets used to pay its annual administrative and advisory expenses. These expenses directly reduce returns to investors.

Foreign Holdings. The percentage of a fund represented by stocks or depositary receipts of companies based outside the United States.

Inception Date. The date on which the assets of a fund (or one of its share classes) are first invested in accordance with the fund’s investment objective. For funds with a subscription period, the inception date is the day after that period ends. Investment performance is measured from the inception date.

Median Market Cap. An indicator of the size of companies in which a fund invests; the midpoint of market capitalization (market price x shares outstanding) of a fund’s stocks, weighted by the proportion of the fund’s assets invested in each stock. Stocks representing half of the fund’s assets have market capitalizations above the median, and the rest are below it.

Price/Book Ratio. The share price of a stock divided by its net worth, or book value, per share. For a fund, the weighted average price/book ratio of the stocks it holds.

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Price/Earnings Ratio. The ratio of a stock’s current price to its per-share earnings over the past year. For a fund, the weighted average P/E of the stocks it holds. P/E is an indicator of market expectations about corporate prospects; the higher the P/E, the greater the expectations for a company’s future growth.

R-Squared. A measure of how much of a fund’s past returns can be explained by the returns from the market in general, as measured by a given index. If a fund’s total returns were precisely synchronized with an index’s returns, its R-squared would be 1.00. If the fund’s returns bore no relationship to the index’s returns, its R-squared would be 0. For this report, R-squared is based on returns over the past 36 months for both the fund and the index.

Return on Equity. The annual average rate of return generated by a company during the past five years for each dollar of shareholder’s equity (net income divided by shareholder’s equity). For a fund, the weighted average return on equity for the companies whose stocks it holds.

Short-Term Reserves. The percentage of a fund invested in highly liquid, short-term securities that can be readily converted to cash.

Turnover Rate. An indication of the fund’s trading activity. Funds with high turnover rates incur higher transaction costs and may be more likely to distribute capital gains (which may be taxable to investors). The turnover rate excludes in-kind transactions, which have minimal impact on costs.

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The People Who Govern Your Fund

The trustees of your mutual fund are there to see that the fund is operated and managed in your best interests since, as a shareholder, you are a part owner of the fund. Your fund’s trustees also serve on the board of directors of The Vanguard Group, Inc., which is owned by the Vanguard funds and provides services to them on an at-cost basis.

A majority of Vanguard’s board members are independent, meaning that they have no affiliation with Vanguard or the funds they oversee, apart from the sizable personal investments they have made as private individuals. The independent board members have distinguished backgrounds in business, academia, and public service. Each of the trustees and executive officers oversees 163 Vanguard funds.

The following table provides information for each trustee and executive officer of the fund. More information about the trustees is in the Statement of Additional Information, which can be obtained, without charge, by contacting Vanguard at 800-662-7447, or online at www.vanguard.com.

Interested Trustee1  Rajiv L. Gupta 
  Born 1945. Trustee Since December 2001.2 Principal 
F. William McNabb III  Occupation(s) During the Past Five Years: Chairman 
Born 1957. Trustee Since July 2009. Chairman of the  and Chief Executive Officer (retired 2009) and President 
Board. Principal Occupation(s) During the Past Five  (2006–2008) of Rohm and Haas Co. (chemicals); Board 
Years: Chairman of the Board of The Vanguard Group,  Member of American Chemistry Council; Director of 
Inc., and of each of the investment companies served  Tyco International, Ltd. (diversified manufacturing and 
by The Vanguard Group, since January 2010; Director of  services) and Hewlett-Packard Co. (electronic computer 
The Vanguard Group since 2008; Chief Executive Officer  manufacturing); Trustee of The Conference Board. 
and President of The Vanguard Group and of each of the   
investment companies served by The Vanguard Group  Amy Gutmann 
since 2008; Director of Vanguard Marketing Corporation;  Born 1949. Trustee Since June 2006. Principal 
Managing Director of The Vanguard Group (1995–2008).  Occupation(s) During the Past Five Years: President of 
  the University of Pennsylvania; Christopher H. Browne 
  Distinguished Professor of Political Science in the School 
Independent Trustees  of Arts and Sciences with secondary appointments 
  at the Annenberg School for Communication and the 
Emerson U. Fullwood  Graduate School of Education of the University of 
Born 1948. Trustee Since January 2008. Principal  Pennsylvania; Director of Carnegie Corporation of 
Occupation(s) During the Past Five Years: Executive  New York, Schuylkill River Development Corporation, 
Chief Staff and Marketing Officer for North America  and Greater Philadelphia Chamber of Commerce; 
and Corporate Vice President (retired 2008) of Xerox  Trustee of the National Constitution Center. 
Corporation (photocopiers and printers); Director of   
SPX Corporation (multi-industry manufacturing), the   
United Way of Rochester, the Boy Scouts of America,   
Amerigroup Corporation (direct health and medical   
insurance carriers), and Monroe Community College   
Foundation.   


JoAnn Heffernan Heisen  Executive Officers   
Born 1950. Trustee Since July 1998. Principal     
Occupation(s) During the Past Five Years: Corporate  Thomas J. Higgins   
Vice President and Chief Global Diversity Officer since  Born 1957. Chief Financial Officer Since September 
2006 (retired 2008) and Member of the Executive  2008. Principal Occupation(s) During the Past Five 
Committee (retired 2008) of Johnson & Johnson  Years: Principal of The Vanguard Group, Inc.; Chief 
(pharmaceuticals/consumer products); Vice President  Financial Officer of each of the investment companies 
and Chief Information Officer of Johnson & Johnson  served by The Vanguard Group since 2008; Treasurer 
(1997–2005); Director of the University Medical Center  of each of the investment companies served by The 
at Princeton and Women’s Research and Education  Vanguard Group (1998–2008). 
Institute; Member of the Advisory Board of the Maxwell     
School of Citizenship and Public Affairs at Syracuse  Kathryn J. Hyatt   
University.  Born 1955. Treasurer Since November 2008. Principal 
  Occupation(s) During the Past Five Years: Principal of 
F. Joseph Loughrey  The Vanguard Group, Inc.; Treasurer of each of the 
Born 1949. Trustee Since October 2009. Principal  investment companies served by The Vanguard 
Occupation(s) During the Past Five Years: President and  Group since 2008; Assistant Treasurer of each of the 
Chief Operating Officer since 2005 (retired 2009) and  investment companies served by The Vanguard Group 
Vice Chairman of the Board (2008–2009) of Cummins  (1988–2008).   
Inc. (industrial machinery); Director of SKF AB (industrial     
machinery), Hillenbrand, Inc. (specialized consumer  Heidi Stam   
services), Sauer-Danfoss Inc. (machinery), the Lumina  Born 1956. Secretary Since July 2005. Principal 
Foundation for Education, and the Columbus Community  Occupation(s) During the Past Five Years: Managing 
Education Coalition; Chairman of the Advisory Council  Director of The Vanguard Group, Inc., since 2006; 
for the College of Arts and Letters at the University of  General Counsel of The Vanguard Group since 2005; 
Notre Dame.  Secretary of The Vanguard Group and of each of the 
  investment companies served by The Vanguard Group 
André F. Perold  since 2005; Director and Senior Vice President of 
Born 1952. Trustee Since December 2004. Principal  Vanguard Marketing Corporation since 2005; Principal 
Occupation(s) During the Past Five Years: George Gund  of The Vanguard Group (1997–2006). 
Professor of Finance and Banking, Harvard Business     
School; Chair of the Investment Committee of HighVista     
Strategies LLC (private investment firm).  Vanguard Senior Management Team 
 
Alfred M. Rankin, Jr.  R. Gregory Barton  Michael S. Miller 
Born 1941. Trustee Since January 1993. Principal  Mortimer J. Buckley  James M. Norris 
Occupation(s) During the Past Five Years: Chairman,  Kathleen C. Gubanich  Glenn W. Reed 
President, and Chief Executive Officer of NACCO  Paul A. Heller  George U. Sauter 
Industries, Inc. (forklift trucks/housewares/lignite);     
Director of Goodrich Corporation (industrial products/     
aircraft systems and services); Deputy Chairman of  Chairman Emeritus and Senior Advisor 
the Federal Reserve Bank of Cleveland; Trustee of     
University Hospitals of Cleveland, The Cleveland  John J. Brennan   
Museum of Art, and Case Western Reserve University.  Chairman, 1996–2009   
  Chief Executive Officer and President, 1996–2008 
Peter F. Volanakis     
Born 1955. Trustee Since July 2009. Principal     
Occupation(s) During the Past Five Years: President  Founder   
since 2007 and Chief Operating Officer since 2005     
of Corning Incorporated (communications equipment);  John C. Bogle   
President of Corning Technologies (2001–2005); Director  Chairman and Chief Executive Officer, 1974–1996 
of Corning Incorporated and Dow Corning; Trustee of     
the Corning Incorporated Foundation and the Corning     
Museum of Glass; Overseer of the Amos Tuck School     
of Business Administration at Dartmouth College.     

1 Mr. McNabb is considered an “interested person,” as defined in the Investment Company Act of 1940, because he is an officer of the
Vanguard funds.
2 December 2002 for Vanguard Equity Income Fund, Vanguard Growth Equity Fund, the Vanguard Municipal Bond Funds, and the Vanguard
State Tax-Exempt Funds.


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© 2010 The Vanguard Group, Inc.
All rights reserved.
Vanguard Marketing Corporation, Distributor.

Q980 022010


Vanguard® Extended Market Index Fund
Schedule of Investments
December 31, 2009

      Market 
      Value 
    Shares  ($000) 
 
Common Stocks (98.9%)1     
Consumer Discretionary (13.6%)     
  Cablevision Systems Corp. Class A  1,487,434  38,406 
*  CarMax Inc.  1,333,409  32,335 
*  Las Vegas Sands Corp.  1,865,473  27,870 
*  Urban Outfitters Inc.  779,008  27,258 
  DISH Network Corp. Class A  1,262,449  26,221 
*  Liberty Global Inc.  1,197,260  26,160 
*  Discovery Communications Inc.  978,231  25,943 
*  Dollar Tree Inc.  530,631  25,629 
*  NVR Inc.  35,670  25,351 
  BorgWarner Inc.  701,691  23,310 
  Advance Auto Parts Inc.  568,863  23,028 
*  Discovery Communications Inc. Class A  713,894  21,895 
  American Eagle Outfitters Inc.  1,248,898  21,206 
  PetSmart Inc.  743,195  19,836 
*  DreamWorks Animation SKG Inc. Class A  453,739  18,127 
*  ITT Educational Services Inc.  186,594  17,906 
^  Strayer Education Inc.  84,217  17,895 
  Tupperware Brands Corp.  382,096  17,794 
*  Chipotle Mexican Grill Inc. Class A  188,651  16,631 
*  LKQ Corp.  847,391  16,600 
  Jarden Corp.  536,546  16,585 
*  Mohawk Industries Inc.  337,498  16,065 
*  Toll Brothers Inc.  824,213  15,503 
*  J Crew Group Inc.  336,389  15,050 
*  Chico's FAS Inc.  1,070,002  15,034 
*  Royal Caribbean Cruises Ltd.  591,494  14,953 
  Gentex Corp.  828,598  14,790 
  Guess? Inc.  348,973  14,762 
*,^  NetFlix Inc.  259,524  14,310 
*  Sirius XM Radio Inc.  23,196,250  13,918 
*  Hanesbrands Inc.  572,078  13,793 
*  Bally Technologies Inc.  329,889  13,621 
*  Aeropostale Inc.  399,206  13,593 
*  Dick's Sporting Goods Inc.  537,315  13,363 
  Williams-Sonoma Inc.  634,951  13,194 
*  WMS Industries Inc.  317,626  12,705 
*  Panera Bread Co. Class A  189,532  12,693 
  Phillips-Van Heusen Corp.  310,478  12,630 
  Service Corp. International  1,505,612  12,331 
*  Warnaco Group Inc.  273,655  11,545 
*  Tractor Supply Co.  217,389  11,513 
*  MGM Mirage  1,220,251  11,129 
*  Penn National Gaming Inc.  406,628  11,052 
  John Wiley & Sons Inc. Class A  257,214  10,772 
*  Tempur-Pedic International Inc.  450,844  10,653 
  Foot Locker Inc.  940,282  10,475 
  Wendy's/Arby's Group Inc. Class A  2,196,251  10,300 
*  Lamar Advertising Co. Class A  320,338  9,959 
*  Career Education Corp.  421,280  9,820 
*  Fossil Inc.  288,872  9,695 
*  TRW Automotive Holdings Corp.  389,042  9,290 
  Brinker International Inc.  616,045  9,191 
*  Dana Holding Corp.  836,715  9,070 
  Sotheby's  402,187  9,041 
  Aaron's Inc.  324,390  8,995 
*  Brink's Home Security Holdings Inc.  275,372  8,988 
*  Carter's Inc.  341,390  8,961 
  Burger King Holdings Inc.  471,014  8,864 
*  Collective Brands Inc.  385,398  8,776 
  Polaris Industries Inc.  196,650  8,580 
  Jones Apparel Group Inc.  513,396  8,245 

1


Vanguard® Extended Market Index Fund
Schedule of Investments
December 31, 2009

      Market 
      Value 
    Shares  ($000) 
*  Liberty Global Inc. Class A  371,324  8,136 
  Wolverine World Wide Inc.  298,018  8,112 
*  Deckers Outdoor Corp.  78,448  7,980 
*  Cheesecake Factory Inc.  362,188  7,820 
*  Gymboree Corp.  179,629  7,812 
*  Dress Barn Inc.  327,752  7,571 
  Cooper Tire & Rubber Co.  363,788  7,294 
*  Corinthian Colleges Inc.  526,566  7,251 
*  Rent-A-Center Inc.  397,378  7,042 
  MDC Holdings Inc.  225,952  7,014 
  Hillenbrand Inc.  372,057  7,010 
  Regal Entertainment Group Class A  481,376  6,951 
*  Jack in the Box Inc.  344,509  6,776 
  Brunswick Corp.  530,987  6,749 
  Thor Industries Inc.  213,343  6,699 
*  Vail Resorts Inc.  176,504  6,672 
  Men's Wearhouse Inc.  313,627  6,605 
*  Capella Education Co.  87,369  6,579 
  Matthews International Corp. Class A  182,438  6,464 
*  Saks Inc.  959,301  6,293 
*  Life Time Fitness Inc.  248,841  6,204 
*,^  Under Armour Inc. Class A  226,291  6,171 
  KB Home  448,911  6,141 
*  Tenneco Inc.  344,873  6,115 
  Weight Watchers International Inc.  203,825  5,944 
*  Skechers U.S.A. Inc. Class A  201,060  5,913 
*  Jo-Ann Stores Inc.  161,250  5,844 
*  OfficeMax Inc.  458,815  5,822 
  NutriSystem Inc.  186,113  5,801 
*  Morningstar Inc.  119,755  5,789 
*  Scientific Games Corp. Class A  390,423  5,681 
  Dillard's Inc. Class A  306,436  5,654 
  Pool Corp.  294,372  5,617 
  Interactive Data Corp.  221,137  5,595 
*  Gaylord Entertainment Co.  282,499  5,579 
*  Blue Nile Inc.  87,799  5,560 
  Choice Hotels International Inc.  172,796  5,471 
*  Childrens Place Retail Stores Inc.  164,696  5,437 
*  Iconix Brand Group Inc.  429,320  5,431 
  Bob Evans Farms Inc.  186,559  5,401 
  Regis Corp.  343,407  5,347 
*  PF Chang's China Bistro Inc.  139,723  5,297 
*  Valassis Communications Inc.  289,591  5,288 
  International Speedway Corp. Class A  184,488  5,249 
  Cracker Barrel Old Country Store Inc.  137,666  5,230 
  Ryland Group Inc.  263,470  5,190 
*  Coinstar Inc.  186,773  5,189 
  American Greetings Corp. Class A  237,371  5,172 
*  ArvinMeritor Inc.  446,680  4,994 
*  AnnTaylor Stores Corp.  353,000  4,815 
*  Timberland Co. Class A  268,283  4,810 
*  HSN Inc.  237,570  4,797 
*  JOS A Bank Clothiers Inc.  110,079  4,644 
  Scholastic Corp.  153,896  4,591 
^  Barnes & Noble Inc.  238,312  4,545 
*  Charming Shoppes Inc.  696,090  4,504 
^  Buckle Inc.  153,387  4,491 
*  Helen of Troy Ltd.  181,417  4,437 
*  CEC Entertainment Inc.  138,105  4,408 
*  Buffalo Wild Wings Inc.  108,455  4,367 
*  Live Nation Inc.  504,618  4,294 
  National CineMedia Inc.  253,886  4,207 
  Finish Line Inc. Class A  333,703  4,188 
  Unifirst Corp.  86,280  4,151 

2


Vanguard® Extended Market Index Fund
Schedule of Investments
December 31, 2009

      Market 
      Value 
    Shares  ($000) 
*  Group 1 Automotive Inc.  145,749  4,132 
*  Steven Madden Ltd.  97,066  4,003 
  Monro Muffler Brake Inc.  118,529  3,964 
*  Sally Beauty Holdings Inc.  504,497  3,859 
*  Hibbett Sports Inc.  173,379  3,813 
*  American Public Education Inc.  109,566  3,765 
*  Genesco Inc.  136,792  3,756 
  Arbitron Inc.  159,724  3,741 
*  Sonic Corp.  368,289  3,709 
*  Meritage Homes Corp.  191,190  3,696 
*  K12 Inc.  177,694  3,602 
  Cato Corp. Class A  178,170  3,574 
*  99 Cents Only Stores  273,357  3,573 
*  Penske Auto Group Inc.  231,832  3,519 
*  Texas Roadhouse Inc. Class A  309,667  3,478 
*,^  Cabela's Inc.  243,186  3,468 
*  Fuel Systems Solutions Inc.  83,603  3,448 
*  Pinnacle Entertainment Inc.  361,759  3,249 
*  Liz Claiborne Inc.  574,475  3,234 
*  Exide Technologies  454,813  3,234 
*  Modine Manufacturing Co.  272,825  3,230 
  National Presto Industries Inc.  28,930  3,160 
*  Ulta Salon Cosmetics & Fragrance Inc.  171,120  3,108 
*  Federal Mogul Corp.  179,295  3,102 
*  Papa John's International Inc.  132,486  3,095 
*  CROCS Inc.  517,801  2,977 
*  La-Z-Boy Inc.  312,115  2,974 
*  Interval Leisure Group Inc.  238,180  2,970 
  Belo Corp. Class A  543,672  2,958 
*  Education Management Corp.  134,096  2,951 
  Callaway Golf Co.  389,157  2,934 
  Stewart Enterprises Inc. Class A  561,285  2,891 
*  Steak N Shake Co.  8,851  2,869 
  Cinemark Holdings Inc.  198,692  2,855 
  Stage Stores Inc.  230,299  2,846 
*  True Religion Apparel Inc.  152,842  2,826 
  CKE Restaurants Inc.  331,764  2,807 
*  Ruby Tuesday Inc.  389,632  2,805 
*  Ticketmaster Entertainment Inc.  228,135  2,788 
*  Boyd Gaming Corp.  332,889  2,786 
  Columbia Sportswear Co.  69,477  2,712 
*  American Axle & Manufacturing Holdings Inc.  336,386  2,698 
*  Shuffle Master Inc.  324,047  2,670 
*  Peet's Coffee & Tea Inc.  78,308  2,610 
*  Pier 1 Imports Inc.  510,353  2,598 
  Brown Shoe Co. Inc.  259,004  2,556 
*  RCN Corp.  233,962  2,538 
*  Clear Channel Outdoor Holdings Inc. Class A  243,257  2,527 
*  Lumber Liquidators Inc.  93,235  2,499 
  Harte-Hanks Inc.  230,531  2,485 
  World Wrestling Entertainment Inc. Class A  161,178  2,471 
*  Citi Trends Inc.  88,913  2,456 
  Fred's Inc. Class A  240,009  2,448 
*  Universal Technical Institute Inc.  121,059  2,445 
  PetMed Express Inc.  138,433  2,441 
  Ameristar Casinos Inc.  156,388  2,382 
  PEP Boys-Manny Moe & Jack  278,784  2,359 
*  Drew Industries Inc.  112,063  2,314 
*  Ascent Media Corp. Class A  87,901  2,244 
*  Asbury Automotive Group Inc.  194,300  2,240 
  Churchill Downs Inc.  59,957  2,239 
  Superior Industries International Inc.  145,397  2,225 
*,^  DineEquity Inc.  90,562  2,200 
  Sonic Automotive Inc. Class A  210,507  2,187 

3


Vanguard® Extended Market Index Fund
Schedule of Investments
December 31, 2009

      Market 
      Value 
    Shares  ($000) 
*  hhgregg Inc.  98,112  2,161 
*  Standard Pacific Corp.  572,767  2,142 
  Big 5 Sporting Goods Corp.  124,436  2,138 
  Ethan Allen Interiors Inc.  155,845  2,091 
*  Winnebago Industries  169,903  2,073 
*  Wet Seal Inc. Class A  599,093  2,067 
*  Warner Music Group Corp.  364,862  2,065 
*  Stein Mart Inc.  193,353  2,061 
*  Domino's Pizza Inc.  245,814  2,060 
*  Jakks Pacific Inc.  169,109  2,050 
*  Pre-Paid Legal Services Inc.  49,715  2,042 
*  California Pizza Kitchen Inc.  150,421  2,023 
*  BJ's Restaurants Inc.  107,197  2,017 
*  Shutterfly Inc.  111,775  1,991 
*  Universal Electronics Inc.  85,026  1,974 
*  iRobot Corp.  109,576  1,929 
  Ambassadors Group Inc.  143,142  1,902 
  Speedway Motorsports Inc.  106,624  1,879 
  Oxford Industries Inc.  88,529  1,831 
*,^  Talbots Inc.  205,252  1,829 
  Haverty Furniture Cos. Inc.  130,300  1,789 
*  Volcom Inc.  106,630  1,785 
*  DSW Inc. Class A  68,677  1,777 
*  RC2 Corp.  119,919  1,769 
  Christopher & Banks Corp.  231,242  1,762 
*  CKX Inc.  330,989  1,744 
*  HOT Topic Inc.  273,389  1,739 
*  Maidenform Brands Inc.  103,809  1,733 
*  Red Robin Gourmet Burgers Inc.  95,073  1,702 
*  Entravision Communications Corp. Class A  493,153  1,677 
*  Dolan Media Co.  162,867  1,663 
  K-Swiss Inc. Class A  165,760  1,648 
  Marcus Corp.  125,961  1,615 
*  EW Scripps Co. Class A  230,026  1,601 
*  Select Comfort Corp.  244,663  1,595 
*  Kirkland's Inc.  91,424  1,588 
*  Pacific Sunwear Of California  396,271  1,577 
*  Core-Mark Holding Co. Inc.  47,160  1,554 
*  Rentrak Corp.  87,383  1,544 
*  Coldwater Creek Inc.  344,761  1,538 
*  Knology Inc.  139,061  1,523 
*  Landry's Restaurants Inc.  71,153  1,515 
*  Mediacom Communications Corp. Class A  328,651  1,469 
*  Amerigon Inc.  184,424  1,464 
*  Smith & Wesson Holding Corp.  357,683  1,463 
*  Furniture Brands International Inc.  264,838  1,446 
*  Zumiez Inc.  111,954  1,424 
*  Quiksilver Inc.  692,151  1,398 
*  Krispy Kreme Doughnuts Inc.  463,239  1,367 
*  Grand Canyon Education Inc.  71,627  1,362 
*  Denny's Corp.  619,969  1,358 
*  America's Car-Mart Inc.  49,436  1,302 
*  Retail Ventures Inc.  146,344  1,301 
  Blyth Inc.  38,553  1,300 
^  Sturm Ruger & Co. Inc.  130,838  1,269 
*  Drugstore.Com Inc.  406,637  1,257 
  Bebe Stores Inc.  199,447  1,251 
*  Cavco Industries Inc.  34,750  1,248 
*,^  Overstock.com Inc.  91,257  1,237 
*  AFC Enterprises Inc.  151,533  1,237 
*  MarineMax Inc.  133,041  1,223 
*  Beazer Homes USA Inc.  251,958  1,219 
*  G-III Apparel Group Ltd.  55,157  1,195 
*  Orbitz Worldwide Inc.  160,855  1,181 

4


Vanguard® Extended Market Index Fund
Schedule of Investments
December 31, 2009

      Market 
      Value 
    Shares  ($000) 
*  Unifi Inc.  304,096  1,180 
*  Audiovox Corp. Class A  166,390  1,180 
  Cherokee Inc.  65,762  1,172 
  Movado Group Inc.  119,661  1,163 
  Systemax Inc.  73,832  1,160 
  Spartan Motors Inc.  201,840  1,136 
*  Gaiam Inc. Class A  147,676  1,136 
  Sinclair Broadcast Group Inc. Class A  280,685  1,131 
*  Vitamin Shoppe Inc.  50,436  1,122 
*  LIN TV Corp. Class A  250,670  1,118 
*  Stamps.com Inc.  123,800  1,114 
*  LodgeNet Interactive Corp.  200,892  1,111 
*  Shoe Carnival Inc.  53,872  1,103 
*  Destination Maternity Corp.  58,020  1,102 
*  Lincoln Educational Services Corp.  50,372  1,092 
*  Steinway Musical Instruments  67,322  1,071 
*  Martha Stewart Living Omnimedia Class A  215,857  1,066 
*  Dorman Products Inc.  66,221  1,037 
*  Midas Inc.  120,724  1,020 
*  Youbet.com Inc.  354,035  1,016 
*  Learning Tree International Inc.  84,321  1,007 
*  Hawk Corp. Class A  56,343  992 
*  Insignia Systems Inc.  202,578  987 
*  Lithia Motors Inc. Class A  119,326  981 
  CSS Industries Inc.  49,531  963 
*,^  Bridgepoint Education Inc.  61,862  929 
^  McClatchy Co. Class A  255,124  903 
*  AH Belo Corp. Class A  155,625  896 
*,^  Hovnanian Enterprises Inc. Class A  230,969  887 
  Weyco Group Inc.  37,181  879 
  Journal Communications Inc. Class A  223,700  870 
  Primedia Inc.  235,778  851 
*  M/I Homes Inc.  81,727  849 
*  Sealy Corp.  264,277  835 
*  Morgans Hotel Group Co.  183,211  830 
*  Culp Inc.  82,428  823 
*  Rubio's Restaurants Inc.  110,026  793 
*  Isle of Capri Casinos Inc.  106,043  793 
*,^  Blockbuster Inc. Class A  1,175,598  788 
*  Kenneth Cole Productions Inc. Class A  80,937  781 
*,^  Brookfield Homes Corp.  95,313  762 
*  Multimedia Games Inc.  126,670  761 
*  Perry Ellis International Inc.  50,145  755 
  Marine Products Corp.  152,419  751 
*  Stanley Furniture Co. Inc.  71,739  728 
*,^  Quantum Fuel Systems Technologies Worldwide Inc.  610,340  677 
  Jackson Hewitt Tax Service Inc.  153,955  677 
*  Media General Inc. Class A  84,284  661 
*  Rocky Brands Inc.  87,684  658 
  Skyline Corp.  34,905  642 
*  Standard Motor Products Inc.  73,250  624 
  CPI Corp.  49,957  613 
  Frisch's Restaurants Inc.  25,701  613 
*  Valuevision Media Inc. Class A  126,908  609 
*  Red Lion Hotels Corp.  122,900  607 
*  Caribou Coffee Co. Inc.  78,042  602 
*  Tuesday Morning Corp.  229,823  593 
  Sport Supply Group Inc.  46,238  582 
  Books-A-Million Inc.  86,393  581 
*  O'Charleys Inc.  87,672  574 
*  New York & Co. Inc.  133,740  574 
*  Princeton Review Inc.  139,455  566 
*  Saga Communications Inc. Class A  45,024  565 
*  1-800-Flowers.com Inc. Class A  209,383  555 

5


Vanguard® Extended Market Index Fund
Schedule of Investments
December 31, 2009

      Market 
      Value 
    Shares  ($000) 
*  Leapfrog Enterprises Inc.  139,771  546 
*  Stoneridge Inc.  60,029  541 
*  Cumulus Media Inc. Class A  237,203  541 
*  Entercom Communications Corp. Class A  75,635  535 
*  Nexstar Broadcasting Group Inc. Class A  130,775  530 
*  Kid Brands Inc.  120,801  529 
*  Joe's Jeans Inc.  389,951  526 
*  AC Moore Arts & Crafts Inc.  177,341  521 
*  Zale Corp.  189,286  515 
*  Casual Male Retail Group Inc.  219,326  511 
  Bon-Ton Stores Inc.  51,406  504 
*  Fisher Communications Inc.  30,955  503 
*  West Marine Inc.  62,153  501 
*  Famous Dave's Of America Inc.  82,595  500 
*  Tandy Leather Factory Inc.  125,605  491 
*  Nobel Learning Communities Inc.  64,443  489 
*  American Apparel Inc.  157,080  487 
*  Luby's Inc.  132,166  486 
*  Nautilus Inc.  237,420  482 
*  Carrols Restaurant Group Inc.  67,387  476 
*,^  Raser Technologies Inc.  373,034  463 
*  Arctic Cat Inc.  50,072  459 
*  Cache Inc.  99,997  457 
*  Vitacost.com Inc.  43,824  457 
  Hooker Furniture Corp.  36,700  454 
  Dover Motorsports Inc.  217,120  454 
  RG Barry Corp.  52,442  451 
*  Hollywood Media Corp.  321,267  450 
*  Delta Apparel Inc.  41,746  445 
*  Build-A-Bear Workshop Inc.  90,789  444 
*  Borders Group Inc.  372,043  439 
*  Playboy Enterprises Inc. Class B  135,359  433 
*  Monarch Casino & Resort Inc.  51,748  419 
*  Lifetime Brands Inc.  58,274  417 
*  Empire Resorts Inc.  192,357  406 
*  Forward Industries Inc.  188,728  389 
*  Mac-Gray Corp.  37,698  388 
  Collectors Universe  40,731  381 
*  Jamba Inc.  222,210  373 
*  Bassett Furniture Industries Inc.  102,010  359 
*  Crown Media Holdings Inc. Class A  245,799  356 
*  Outdoor Channel Holdings Inc.  60,881  353 
*  Lee Enterprises Inc.  101,161  351 
*  Emerson Radio Corp.  146,755  346 
  Flexsteel Industries  33,066  338 
*  Rex Stores Corp.  23,108  325 
*  Beasley Broadcasting Group Inc. Class A  90,279  320 
*  Bluegreen Corp.  131,902  319 
  Dover Downs Gaming & Entertainment Inc.  82,582  312 
*  Nathan's Famous Inc.  19,811  302 
*  Dixie Group Inc.  109,360  296 
*  Trans World Entertainment  194,782  294 
  Nobility Homes Inc.  28,012  293 
*  Strattec Security Corp.  15,593  288 
*  Radio One Inc. Class A  93,623  288 
*  4Kids Entertainment Inc.  181,285  288 
*  McCormick & Schmick's Seafood Restaurants Inc.  41,063  286 
*  Shiloh Industries Inc.  53,686  285 
*  Perfumania Holdings Inc.  39,291  283 
  Gaming Partners International Corp.  49,597  278 
  Heelys Inc.  125,864  274 
*  Franklin Electronic Publishers Inc.  109,761  271 
*  VCG Holding Corp.  129,258  269 
*  Century Casinos Inc.  96,100  259 

6


Vanguard® Extended Market Index Fund
Schedule of Investments
December 31, 2009

      Market 
      Value 
    Shares  ($000) 
*  Navarre Corp.  121,031  257 
*  ante4 Inc.  240,432  249 
*  Carmike Cinemas Inc.  32,658  247 
*,^  Conn's Inc.  41,737  244 
*  Alloy Inc.  30,775  239 
*  Benihana Inc. Class A  63,045  239 
*  Escalade Inc.  98,010  235 
*  Lakes Entertainment Inc.  92,413  232 
*  Bidz.com Inc.  115,487  231 
*  MTR Gaming Group Inc.  176,697  230 
*  Carriage Services Inc. Class A  57,955  228 
  Ark Restaurants Corp.  15,514  224 
*  Palm Harbor Homes Inc.  106,050  220 
*  Global Traffic Network Inc.  52,639  218 
*  Ruth's Hospitality Group Inc.  103,082  215 
*  Charles & Colvard Ltd.  179,486  208 
*  J Alexander's Corp.  47,400  189 
*  Great Wolf Resorts Inc.  76,636  182 
*  Harris Interactive Inc.  149,054  177 
*  Aldila Inc.  47,699  166 
*  Infosonics Corp.  140,532  145 
*  Rick's Cabaret International Inc.  16,335  140 
*  Town Sports International Holdings Inc.  54,278  126 
*  Premier Exhibitions Inc.  86,968  126 
*  Duckwall-ALCO Stores Inc.  8,017  123 
*  NTN Buzztime Inc.  273,189  123 
*  Lodgian Inc.  80,960  121 
*  Benihana Inc. Class A  27,540  116 
*  Emmis Communications Corp. Class A  95,521  110 
*  Bluefly Inc.  44,063  109 
*  Playboy Enterprises Inc. Class A  22,850  109 
*  Gander Mountain Co.  21,095  108 
*  Morton's Restaurant Group Inc.  35,710  104 
*  Golfsmith International Holdings Inc.  43,979  99 
*  Silverleaf Resorts Inc.  107,300  89 
*  Johnson Outdoors Inc. Class A  7,174  70 
*  Regent Communications Inc.  275,690  69 
*  Craftmade International Inc.  35,683  67 
*  Syms Corp.  9,144  66 
*  Gray Television Inc.  43,597  66 
*,^  Orleans Homebuilders Inc.  39,754  65 
*  Williams Controls Inc.  8,052  64 
*  Blockbuster Inc. Class B  107,624  63 
  Hallwood Group Inc.  1,600  62 
*  Bakers Footwear Group Inc.  69,383  51 
  Aaron's Inc. Class A  2,025  46 
*  Ambassadors International Inc.  77,088  46 
*  Atrinsic Inc.  66,436  44 
*  MKTG Inc.  93,399  37 
*  Amerityre Corp.  99,178  31 
*  Cost Plus Inc.  23,132  24 
*  Spanish Broadcasting System Inc.  18,477  14 
*  Meade Instruments Corp.  4,548  13 
*  Marvel Entertainment Inc.  205  11 
*  Kona Grill Inc.  3,435  10 
*  SPAR Group Inc.  7,650  6 
*  Winmark Corp.  200  4 
*  Cosi Inc.  4,400  3 
*  US Auto Parts Network Inc.  100  1 
*  Here Media Inc.  12,670  — 
      1,709,774 
Consumer Staples (3.6%)     
  Bunge Ltd.  805,958  51,444 
*  Energizer Holdings Inc.  419,359  25,698 

7


Vanguard® Extended Market Index Fund
Schedule of Investments
December 31, 2009

      Market 
      Value 
    Shares  ($000) 
  Church & Dwight Co. Inc.  422,860  25,562 
*  Ralcorp Holdings Inc.  340,930  20,357 
*  Green Mountain Coffee Roasters Inc.  210,017  17,110 
*  Hansen Natural Corp.  430,963  16,549 
*  NBTY Inc.  371,956  16,195 
  Alberto-Culver Co. Class B  513,344  15,036 
  Del Monte Foods Co.  1,189,167  13,485 
  Corn Products International Inc.  450,038  13,155 
*  Smithfield Foods Inc.  846,578  12,860 
  Flowers Foods Inc.  464,726  11,042 
*  BJ's Wholesale Club Inc.  334,812  10,952 
*  Chattem Inc.  114,563  10,689 
  PepsiAmericas Inc.  336,849  9,856 
  Casey's General Stores Inc.  306,200  9,774 
  Nu Skin Enterprises Inc. Class A  294,177  7,905 
*  TreeHouse Foods Inc.  191,971  7,460 
*  United Natural Foods Inc.  259,914  6,950 
  Universal Corp.  148,693  6,782 
  Ruddick Corp.  245,331  6,312 
  Lancaster Colony Corp.  116,920  5,811 
*  Rite Aid Corp.  3,843,552  5,804 
*  Bare Escentuals Inc.  442,551  5,412 
  Lance Inc.  192,862  5,072 
*  Chiquita Brands International Inc.  269,291  4,858 
  Sanderson Farms Inc.  105,198  4,435 
*  American Italian Pasta Co.  125,796  4,376 
  Tootsie Roll Industries Inc.  157,770  4,320 
*  Hain Celestial Group Inc.  245,216  4,171 
*  Darling International Inc.  496,174  4,158 
*  Central Garden and Pet Co. Class A  418,112  4,156 
  Vector Group Ltd.  266,595  3,732 
  Diamond Foods Inc.  99,955  3,552 
  J&J Snack Foods Corp.  85,386  3,412 
*  Winn-Dixie Stores Inc.  330,256  3,316 
  WD-40 Co.  99,921  3,233 
  Nash Finch Co.  77,249  2,865 
  Andersons Inc.  110,574  2,855 
*  Boston Beer Co. Inc. Class A  61,115  2,848 
*,^  Dole Food Co. Inc.  216,600  2,688 
  Cal-Maine Foods Inc.  78,771  2,685 
*  Alliance One International Inc.  536,256  2,617 
*  Medifast Inc.  80,532  2,463 
  Weis Markets Inc.  66,246  2,409 
  B&G Foods Inc. Class A  256,344  2,353 
*  Smart Balance Inc.  391,417  2,349 
*  Elizabeth Arden Inc.  155,656  2,248 
  Spartan Stores Inc.  154,884  2,213 
*  Great Atlantic & Pacific Tea Co.  181,639  2,142 
  Pricesmart Inc.  93,314  1,907 
*  Pantry Inc.  140,326  1,907 
*  Prestige Brands Holdings Inc.  223,849  1,760 
  Imperial Sugar Co.  89,209  1,556 
*  Revlon Inc. Class A  88,668  1,508 
  Ingles Markets Inc. Class A  93,979  1,422 
*  National Beverage Corp.  102,253  1,417 
  Farmer Bros Co.  58,455  1,154 
  Coca-Cola Bottling Co. Consolidated  20,523  1,109 
  Village Super Market Inc. Class A  40,097  1,095 
*  USANA Health Sciences Inc.  32,750  1,045 
*  John B. Sanfilippo & Son Inc.  63,924  995 
  Inter Parfums Inc.  80,125  975 
*,^  Lifeway Foods Inc.  81,849  972 
  Calavo Growers Inc.  52,259  888 
  Oil-Dri Corp. of America  50,968  790 

8


Vanguard® Extended Market Index Fund
Schedule of Investments
December 31, 2009

    Market 
    Value 
  Shares  ($000) 
* Seneca Foods Corp. Class A  31,982  763 
* Nutraceutical International Corp.  60,767  752 
United-Guardian Inc.  55,886  642 
* Harbinger Group Inc.  91,072  639 
Rocky Mountain Chocolate Factory Inc.  78,028  632 
* Reddy Ice Holdings Inc.  146,940  630 
Alico Inc.  21,915  624 
Arden Group Inc.  6,188  592 
* Natural Alternatives International Inc.  75,837  584 
* Diedrich Coffee Inc.  15,850  552 
* Susser Holdings Corp.  61,510  528 
* MGP Ingredients Inc.  68,459  524 
Schiff Nutrition International Inc.  66,327  519 
* Orchids Paper Products Co.  23,408  469 
* Omega Protein Corp.  100,986  440 
* Female Health Co.  82,429  390 
* Star Scientific Inc.  412,993  289 
* Overhill Farms Inc.  58,312  283 
Mannatech Inc.  60,320  188 
* Parlux Fragrances Inc.  89,346  184 
* Physicians Formula Holdings Inc.  64,715  175 
Reliv International Inc.  39,766  130 
* HQ Sustainable Maritime Industries Inc.  16,827  119 
* IGI Laboratories Inc.  72,500  57 
* Vermont Pure Holdings Ltd.  600  — 
    448,931 
Energy (7.1%)     
* Ultra Petroleum Corp.  910,331  45,389 
* Petrohawk Energy Corp.  1,808,397  43,383 
* Newfield Exploration Co.  798,646  38,519 
* Pride International Inc.  1,049,072  33,476 
* Alpha Natural Resources Inc.  727,102  31,542 
Cimarex Energy Co.  501,990  26,590 
Helmerich & Payne Inc.  634,543  25,306 
* Plains Exploration & Production Co.  837,351  23,161 
* Whiting Petroleum Corp.  305,686  21,841 
Arch Coal Inc.  976,395  21,725 
* Concho Resources Inc.  458,984  20,608 
EXCO Resources Inc.  916,180  19,451 
* Oceaneering International Inc.  329,894  19,305 
Southern Union Co.  745,852  16,931 
* Encore Acquisition Co.  333,937  16,036 
* Dresser-Rand Group Inc.  496,095  15,682 
* Forest Oil Corp.  674,896  15,016 
Tidewater Inc.  310,828  14,904 
Patterson-UTI Energy Inc.  923,328  14,173 
* Atlas Energy Inc.  469,706  14,171 
St Mary Land & Exploration Co.  376,037  12,876 
* Atwood Oceanics Inc.  340,023  12,190 
* Oil States International Inc.  299,242  11,757 
* Superior Energy Services Inc.  470,302  11,424 
* Comstock Resources Inc.  280,327  11,373 
* Quicksilver Resources Inc.  711,702  10,683 
* Unit Corp.  242,840  10,321 
* Dril-Quip Inc.  180,239  10,180 
* Arena Resources Inc.  230,996  9,961 
World Fuel Services Corp.  357,244  9,571 
* SandRidge Energy Inc.  988,091  9,318 
* SEACOR Holdings Inc.  121,759  9,284 
* Bristow Group Inc.  215,748  8,296 
* Exterran Holdings Inc.  375,028  8,044 
* Continental Resources Inc.  183,867  7,886 
CARBO Ceramics Inc.  115,099  7,846 
Frontier Oil Corp.  629,159  7,575 

9


Vanguard® Extended Market Index Fund
Schedule of Investments
December 31, 2009

      Market 
      Value 
    Shares  ($000) 
*  Bill Barrett Corp.  232,389  7,230 
*  Mariner Energy Inc.  611,887  7,104 
*  Patriot Coal Corp.  450,766  6,969 
*  Brigham Exploration Co.  500,112  6,777 
  Berry Petroleum Co. Class A  225,583  6,576 
  Lufkin Industries Inc.  89,498  6,551 
*  Key Energy Services Inc.  745,065  6,549 
*  Helix Energy Solutions Group Inc.  551,854  6,484 
  Holly Corp.  247,718  6,349 
*  Rosetta Resources Inc.  314,808  6,274 
  Overseas Shipholding Group Inc.  140,591  6,179 
  Penn Virginia Corp.  272,872  5,809 
*  BPZ Resources Inc.  588,153  5,587 
*  Swift Energy Co.  225,145  5,394 
*  Tetra Technologies Inc.  453,460  5,024 
*  Stone Energy Corp.  252,424  4,556 
*  CNX Gas Corp.  154,334  4,556 
*  Carrizo Oil & Gas Inc.  168,332  4,459 
*  Complete Production Services Inc.  342,130  4,448 
*  ATP Oil & Gas Corp.  243,305  4,448 
*  Global Industries Ltd.  603,281  4,301 
*  ION Geophysical Corp.  712,044  4,215 
*  Gulfmark Offshore Inc.  138,683  3,926 
*  McMoRan Exploration Co.  456,179  3,659 
*,^  Goodrich Petroleum Corp.  146,690  3,572 
*  Contango Oil & Gas Co.  75,561  3,552 
*  Parker Drilling Co.  700,513  3,468 
*  Clean Energy Fuels Corp.  215,858  3,326 
*  Hornbeck Offshore Services Inc.  138,390  3,222 
*  James River Coal Co.  166,251  3,081 
*  International Coal Group Inc.  771,256  2,977 
*  Hercules Offshore Inc.  576,430  2,755 
*  USEC Inc.  681,853  2,625 
*,^  GMX Resources Inc.  188,878  2,595 
*  Pioneer Drilling Co.  322,208  2,545 
  General Maritime Corp.  350,289  2,449 
  W&T Offshore Inc.  206,614  2,417 
*  Newpark Resources Inc.  552,545  2,337 
*  Gulfport Energy Corp.  189,791  2,173 
  RPC Inc.  201,091  2,091 
*  Cal Dive International Inc.  272,913  2,063 
  Crosstex Energy Inc.  336,608  2,036 
*  Northern Oil And Gas Inc.  171,868  2,035 
*  Venoco Inc.  153,050  1,996 
  Gulf Island Fabrication Inc.  87,963  1,850 
*  T-3 Energy Services Inc.  71,711  1,829 
*  Petroquest Energy Inc.  287,026  1,759 
*  Petroleum Development Corp.  91,986  1,675 
  Vaalco Energy Inc.  361,802  1,646 
*  Superior Well Services Inc.  112,391  1,603 
*  Matrix Service Co.  149,262  1,590 
*  Seahawk Drilling Inc.  70,331  1,585 
*  Syntroleum Corp.  591,939  1,575 
*  PHI Inc.  75,756  1,564 
*  Harvest Natural Resources Inc.  279,947  1,481 
*  Rex Energy Corp.  119,403  1,433 
*,^  Rentech Inc.  1,115,568  1,372 
*  American Oil & Gas Inc.  320,130  1,345 
*  Energy Partners Ltd.  154,000  1,315 
*  Clayton Williams Energy Inc.  36,956  1,295 
*  Natural Gas Services Group Inc.  66,224  1,248 
  Toreador Resources Corp.  115,426  1,143 
*  Basic Energy Services Inc.  126,186  1,123 
*  Warren Resources Inc.  457,025  1,120 

10


Vanguard® Extended Market Index Fund
Schedule of Investments
December 31, 2009

      Market 
      Value 
    Shares  ($000) 
*  Dawson Geophysical Co.  48,056  1,111 
*  Allis-Chalmers Energy Inc.  288,079  1,086 
  Panhandle Oil and Gas Inc. Class A  40,806  1,057 
*  Georesources Inc.  77,096  1,053 
*  OYO Geospace Corp.  23,929  1,026 
*  Delta Petroleum Corp.  981,118  1,020 
*  CVR Energy Inc.  139,084  954 
*  Green Plains Renewable Energy Inc.  63,334  942 
*  FX Energy Inc.  320,728  914 
*  Western Refining Inc.  190,610  898 
*  Endeavour International Corp.  754,739  815 
*  Abraxas Petroleum Corp.  405,303  778 
*  Mitcham Industries Inc.  104,006  767 
*  RAM Energy Resources Inc.  367,188  753 
*  Cheniere Energy Inc.  308,893  748 
*  Bronco Drilling Co. Inc.  140,010  710 
*  Bolt Technology Corp.  63,799  703 
*  Boots & Coots Inc.  400,360  661 
*  Westmoreland Coal Co.  71,854  640 
*  CREDO Petroleum Corp.  66,075  614 
  Alon USA Energy Inc.  83,946  574 
*  Uranium Energy Corp.  148,540  561 
  Houston American Energy Corp.  88,555  545 
  Delek US Holdings Inc.  78,966  538 
*,^  Tri-Valley Corp.  262,522  512 
*  Union Drilling Inc.  79,031  494 
*  Geokinetics Inc.  43,492  418 
*  Trico Marine Services Inc.  88,032  400 
*  ENGlobal Corp.  126,031  394 
*  Callon Petroleum Co.  245,308  368 
*  Gasco Energy Inc.  672,029  356 
*  Cobalt International Energy Inc.  25,300  350 
*,^  Isramco Inc.  4,857  347 
*  Uranium Resources Inc.  449,100  346 
*,^  Sulphco Inc.  504,279  338 
*  Approach Resources Inc.  42,800  330 
*  Omni Energy Services Corp.  261,158  326 
*,^  Hyperdynamics Corp.  367,489  320 
*  Double Eagle Petroleum Co.  72,456  313 
*,^  NGAS Resources Inc.  181,432  307 
*,^  Zion Oil & Gas Inc.  40,492  290 
*  PHI Inc.  12,172  252 
*  Cano Petroleum Inc.  249,987  245 
*,^  Royale Energy Inc.  87,841  231 
*  National Coal Corp.  261,228  217 
*,^  Verenium Corp.  47,069  212 
*  HKN Inc.  57,045  209 
*  Barnwell Industries Inc.  40,366  182 
*  GeoMet Inc.  121,818  178 
*,^  Evergreen Energy Inc.  507,016  174 
*  Pacific Ethanol Inc.  184,506  133 
*  TGC Industries Inc.  24,275  95 
*  Cubic Energy Inc.  61,177  91 
*  Meridian Resource Corp.  343,302  89 
*  Tengasco Inc.  178,356  82 
*  Magnum Hunter Resources Corp.  45,924  71 
*  Quest Resource Corp.  103,451  60 
*,^  New Generation Biofuels Holdings Inc.  46,633  37 
*  Dune Energy Inc.  48,940  11 
      890,330 
Financials (18.1%)     
  BlackRock Inc.  195,999  45,511 
  New York Community Bancorp Inc.  2,499,504  36,268 
  Everest Re Group Ltd.  358,613  30,726 

11


Vanguard® Extended Market Index Fund
Schedule of Investments
December 31, 2009

    Market 
    Value 
  Shares  ($000) 
* TD Ameritrade Holding Corp.  1,518,651  29,431 
Federal Realty Investment Trust  367,799  24,907 
Nationwide Health Properties Inc.  674,660  23,735 
SL Green Realty Corp.  464,198  23,321 
Digital Realty Trust Inc.  459,967  23,127 
AMB Property Corp.  879,549  22,472 
Liberty Property Trust  676,931  21,669 
Eaton Vance Corp.  706,107  21,473 
Reinsurance Group of America Inc. Class A  437,634  20,853 
Macerich Co.  579,402  20,830 
Rayonier Inc.  477,650  20,138 
* Markel Corp.  58,959  20,046 
WR Berkley Corp.  811,725  20,001 
First American Corp.  603,804  19,992 
* MSCI Inc. Class A  621,524  19,764 
HCC Insurance Holdings Inc.  676,224  18,914 
Fidelity National Financial Inc. Class A  1,384,952  18,641 
Cullen/Frost Bankers Inc.  360,317  18,016 
Transatlantic Holdings Inc.  343,192  17,884 
Hospitality Properties Trust  741,703  17,586 
Alexandria Real Estate Equities Inc.  265,544  17,072 
* Jefferies Group Inc.  717,877  17,035 
* Affiliated Managers Group Inc.  252,802  17,026 
Commerce Bancshares Inc.  438,454  16,977 
Regency Centers Corp.  482,856  16,929 
Senior Housing Properties Trust  765,711  16,746 
Duke Realty Corp.  1,346,672  16,389 
Camden Property Trust  385,807  16,347 
Mack-Cali Realty Corp.  472,748  16,343 
^ Realty Income Corp.  626,339  16,228 
* St Joe Co.  555,383  16,045 
First Niagara Financial Group Inc.  1,130,251  15,722 
Waddell & Reed Financial Inc.  513,082  15,670 
White Mountains Insurance Group Ltd.  47,052  15,652 
Jones Lang LaSalle Inc.  251,510  15,191 
UDR Inc.  918,665  15,103 
Essex Property Trust Inc.  175,026  14,641 
Old Republic International Corp.  1,446,623  14,524 
Highwoods Properties Inc.  427,359  14,252 
Raymond James Financial Inc.  593,664  14,111 
Arthur J Gallagher & Co.  610,162  13,735 
SEI Investments Co.  778,587  13,641 
Bank of Hawaii Corp.  288,267  13,566 
Hanover Insurance Group Inc.  302,323  13,432 
Washington Federal Inc.  674,820  13,051 
Corporate Office Properties Trust SBI  350,168  12,827 
Brown & Brown Inc.  708,656  12,735 
Weingarten Realty Investors  626,486  12,398 
Valley National Bancorp  862,054  12,181 
City National Corp.  260,073  11,859 
American Financial Group Inc.  475,061  11,853 
StanCorp Financial Group Inc.  295,538  11,827 
Prosperity Bancshares Inc.  278,889  11,287 
* AmeriCredit Corp.  577,474  10,995 
BRE Properties Inc.  326,707  10,807 
* Stifel Financial Corp.  182,231  10,795 
National Retail Properties Inc.  495,303  10,510 
* ProAssurance Corp.  194,939  10,470 
Douglas Emmett Inc.  730,710  10,413 
FirstMerit Corp.  516,091  10,394 
BancorpSouth Inc.  441,480  10,357 
* SVB Financial Group  246,531  10,278 
Apollo Investment Corp.  1,047,228  9,980 
Omega Healthcare Investors Inc.  511,652  9,952 

12


Vanguard® Extended Market Index Fund
Schedule of Investments
December 31, 2009

      Market 
      Value 
    Shares  ($000) 
  Greenhill & Co. Inc.  123,346  9,897 
  Washington Real Estate Investment Trust  359,120  9,894 
  Westamerica Bancorporation  175,615  9,724 
  Developers Diversified Realty Corp.  1,039,483  9,626 
  Home Properties Inc.  201,747  9,625 
  Tanger Factory Outlet Centers  242,161  9,442 
*  Alleghany Corp.  33,930  9,365 
  BioMed Realty Trust Inc.  590,347  9,316 
  Fulton Financial Corp.  1,059,493  9,239 
  Equity Lifestyle Properties Inc.  182,636  9,218 
  TCF Financial Corp.  673,584  9,174 
  Entertainment Properties Trust  252,631  8,910 
  American Campus Communities Inc.  313,846  8,819 
  Brandywine Realty Trust  773,135  8,814 
  East West Bancorp Inc.  551,558  8,715 
  HRPT Properties Trust  1,345,575  8,706 
  Popular Inc.  3,844,515  8,689 
*  Knight Capital Group Inc. Class A  560,026  8,624 
  Protective Life Corp.  514,457  8,514 
  Associated Banc-Corp  768,673  8,463 
  Mercury General Corp.  214,047  8,403 
  Mid-America Apartment Communities Inc.  173,513  8,377 
  Ares Capital Corp.  658,905  8,203 
*  Forest City Enterprises Inc. Class A  695,887  8,198 
  LaSalle Hotel Properties  381,775  8,105 
  CBL & Associates Properties Inc.  828,763  8,014 
  Kilroy Realty Corp.  259,454  7,957 
*,^  Federal National Mortgage Assn.  6,689,097  7,893 
*  Signature Bank  244,051  7,785 
  NewAlliance Bancshares Inc.  639,083  7,675 
  Healthcare Realty Trust Inc.  356,913  7,659 
  Potlatch Corp.  239,117  7,623 
  Trustmark Corp.  336,285  7,580 
  Hancock Holding Co.  170,314  7,458 
  UMB Financial Corp.  179,744  7,073 
  Erie Indemnity Co. Class A  178,829  6,978 
  Umpqua Holdings Corp.  513,014  6,880 
  First Financial Bankshares Inc.  125,369  6,799 
  Zenith National Insurance Corp.  224,700  6,687 
  Iberiabank Corp.  124,178  6,682 
  Unitrin Inc.  299,945  6,614 
  Taubman Centers Inc.  183,034  6,573 
  CapitalSource Inc.  1,651,009  6,555 
*  Conseco Inc.  1,305,674  6,528 
  Tower Group Inc.  270,249  6,327 
  Old National Bancorp  508,036  6,315 
  Delphi Financial Group Inc.  281,215  6,291 
  DCT Industrial Trust Inc.  1,246,216  6,256 
  Cash America International Inc.  176,355  6,165 
  National Health Investors Inc.  165,954  6,139 
  Astoria Financial Corp.  490,507  6,097 
  TFS Financial Corp.  500,574  6,077 
  DiamondRock Hospitality Co.  710,871  6,021 
  EastGroup Properties Inc.  157,118  6,014 
  Extra Space Storage Inc.  519,604  6,001 
  BOK Financial Corp.  126,267  6,000 
  MB Financial Inc.  304,178  5,998 
  Franklin Street Properties Corp.  407,198  5,949 
  Synovus Financial Corp.  2,888,060  5,921 
  International Bancshares Corp.  311,867  5,904 
  Sovran Self Storage Inc.  161,313  5,764 
*,^  Federal Home Loan Mortgage Corp.  3,901,323  5,735 
  Post Properties Inc.  291,359  5,711 
  RLI Corp.  106,693  5,681 

13


Vanguard® Extended Market Index Fund
Schedule of Investments
December 31, 2009

    Market 
    Value 
  Shares  ($000) 
PS Business Parks Inc.  108,483  5,430 
* PHH Corp.  329,132  5,302 
Selective Insurance Group  319,173  5,250 
Sunstone Hotel Investors Inc.  590,647  5,245 
American National Insurance Co.  43,646  5,213 
* Investment Technology Group Inc.  262,841  5,178 
First Citizens BancShares Inc. Class A  31,420  5,153 
Wilmington Trust Corp.  417,281  5,149 
Whitney Holding Corp.  561,923  5,119 
Glacier Bancorp Inc.  370,159  5,079 
* Ezcorp Inc. Class A  292,816  5,039 
* KBW Inc.  181,767  4,973 
* Piper Jaffray Cos.  97,441  4,931 
Medical Properties Trust Inc.  482,425  4,824 
* Forestar Group Inc.  215,996  4,748 
Colonial Properties Trust  399,989  4,692 
FNB Corp.  685,342  4,653 
^ United Bankshares Inc.  229,945  4,592 
Webster Financial Corp.  386,664  4,590 
Cousins Properties Inc.  599,895  4,577 
DuPont Fabros Technology Inc.  252,282  4,539 
Wintrust Financial Corp.  145,326  4,475 
* Pico Holdings Inc.  136,011  4,452 
CVB Financial Corp.  511,017  4,415 
* Interactive Brokers Group Inc.  248,228  4,399 
National Penn Bancshares Inc.  755,602  4,375 
Financial Federal Corp.  157,062  4,319 
Capitol Federal Financial  133,964  4,215 
NBT Bancorp Inc.  206,550  4,207 
* Portfolio Recovery Associates Inc.  93,251  4,185 
Employers Holdings Inc.  271,648  4,167 
^ American Capital Ltd.  1,692,415  4,130 
Acadia Realty Trust  239,134  4,034 
^ Prospect Capital Corp.  336,571  3,975 
optionsXpress Holdings Inc.  257,040  3,971 
Investors Real Estate Trust  436,763  3,931 
* Allied Capital Corp.  1,079,747  3,898 
* CNA Financial Corp.  162,178  3,892 
First Financial Bancorp  266,801  3,885 
* MBIA Inc.  959,164  3,817 
Community Bank System Inc.  197,140  3,807 
* Navigators Group Inc.  80,726  3,803 
* Alexander's Inc.  12,340  3,757 
LTC Properties Inc.  139,703  3,737 
* MGIC Investment Corp.  642,016  3,711 
Radian Group Inc.  497,969  3,640 
Lexington Realty Trust  595,010  3,618 
PacWest Bancorp  179,282  3,613 
Park National Corp.  61,318  3,610 
First Midwest Bancorp Inc.  329,203  3,585 
* First Cash Financial Services Inc.  159,812  3,546 
Brookline Bancorp Inc.  355,588  3,524 
* World Acceptance Corp.  97,747  3,502 
Inland Real Estate Corp.  426,406  3,475 
* Ocwen Financial Corp.  360,376  3,449 
Provident Financial Services Inc.  323,529  3,446 
* Dollar Financial Corp.  145,551  3,444 
U-Store-It Trust  469,714  3,438 
Chemical Financial Corp.  143,051  3,373 
Infinity Property & Casualty Corp.  82,325  3,346 
Safety Insurance Group Inc.  91,837  3,327 
Equity One Inc.  198,282  3,206 
PrivateBancorp Inc. Class A  353,317  3,169 
* Investors Bancorp Inc.  284,239  3,110 

14


Vanguard® Extended Market Index Fund
Schedule of Investments
December 31, 2009

    Market 
    Value 
  Shares  ($000) 
City Holding Co.  95,629  3,092 
Susquehanna Bancshares Inc.  521,106  3,069 
* Riskmetrics Group Inc.  192,606  3,064 
Horace Mann Educators Corp.  236,785  2,960 
Wesco Financial Corp.  8,567  2,938 
Trustco Bank Corp.  462,692  2,915 
MarketAxess Holdings Inc.  207,998  2,891 
* Pinnacle Financial Partners Inc.  199,225  2,833 
* Hilltop Holdings Inc.  239,167  2,784 
Northwest Bancshares Inc.  244,001  2,762 
Home Bancshares Inc.  113,948  2,743 
Columbia Banking System Inc.  169,417  2,741 
Parkway Properties Inc.  130,178  2,710 
Independent Bank Corp.  126,625  2,645 
Cathay General Bancorp  349,386  2,638 
American Equity Investment Life Holding Co.  350,553  2,608 
Harleysville Group Inc.  81,761  2,599 
Getty Realty Corp.  109,003  2,565 
Meadowbrook Insurance Group Inc.  344,931  2,552 
* eHealth Inc.  154,965  2,546 
Sterling Bancshares Inc.  491,467  2,521 
Simmons First National Corp. Class A  90,258  2,509 
Evercore Partners Inc. Class A  82,439  2,506 
First Potomac Realty Trust  199,115  2,503 
United Fire & Casualty Co.  134,179  2,446 
S&T Bancorp Inc.  143,609  2,443 
* Texas Capital Bancshares Inc.  169,408  2,365 
Cohen & Steers Inc.  103,394  2,362 
Saul Centers Inc.  70,681  2,316 
National Western Life Insurance Co. Class A  13,307  2,310 
Community Trust Bancorp Inc.  94,033  2,299 
Universal Health Realty Income Trust  71,684  2,296 
Bank of the Ozarks Inc.  78,217  2,289 
Hercules Technology Growth Capital Inc.  219,536  2,281 
First Financial Corp.  74,014  2,259 
Nara Bancorp Inc.  198,227  2,248 
Boston Private Financial Holdings Inc.  389,023  2,245 
Nelnet Inc. Class A  129,125  2,225 
* Beneficial Mutual Bancorp Inc.  224,617  2,210 
* MCG Capital Corp.  509,208  2,200 
Dime Community Bancshares  183,979  2,156 
* Tejon Ranch Co.  73,208  2,139 
SWS Group Inc.  176,158  2,132 
First Commonwealth Financial Corp.  454,310  2,113 
* AMERISAFE Inc.  116,743  2,098 
* Ashford Hospitality Trust Inc.  438,871  2,036 
Sun Communities Inc.  102,853  2,031 
* National Financial Partners Corp.  248,252  2,008 
OneBeacon Insurance Group Ltd. Class A  145,051  1,999 
Advance America Cash Advance Centers Inc.  358,550  1,994 
WesBanco Inc.  159,836  1,972 
FBL Financial Group Inc. Class A  106,494  1,972 
Harleysville National Corp.  304,934  1,964 
Bank Mutual Corp.  283,646  1,963 
GAMCO Investors Inc.  40,324  1,947 
Phoenix Cos. Inc.  692,041  1,924 
* SeaBright Insurance Holdings Inc.  167,432  1,924 
American Physicians Capital Inc.  62,636  1,899 
Pennsylvania Real Estate Investment Trust  222,849  1,885 
Fifth Street Finance Corp.  175,455  1,884 
SCBT Financial Corp.  67,833  1,878 
Oriental Financial Group Inc.  173,823  1,877 
Cedar Shopping Centers Inc.  270,063  1,836 
* FPIC Insurance Group Inc.  47,154  1,821 

15


Vanguard® Extended Market Index Fund
Schedule of Investments
December 31, 2009

      Market 
      Value 
    Shares  ($000) 
*  Encore Capital Group Inc.  103,721  1,805 
  SY Bancorp Inc.  84,188  1,797 
  Provident New York Bancorp  212,884  1,797 
  Suffolk Bancorp  60,211  1,788 
  Cardinal Financial Corp.  203,971  1,783 
  GFI Group Inc.  388,472  1,775 
  Renasant Corp.  130,424  1,774 
  Great Southern Bancorp Inc.  81,269  1,736 
  Bancfirst Corp.  46,533  1,724 
  National Interstate Corp.  100,751  1,709 
*,^  iStar Financial Inc.  658,424  1,686 
  Westfield Financial Inc.  203,502  1,679 
*  TradeStation Group Inc.  212,703  1,678 
  Tompkins Financial Corp.  41,340  1,674 
  Baldwin & Lyons Inc.  67,304  1,656 
  Arrow Financial Corp.  65,592  1,640 
  TowneBank  138,896  1,622 
  Flushing Financial Corp.  143,024  1,610 
  Kearny Financial Corp.  159,561  1,608 
  Danvers Bancorp Inc.  123,544  1,605 
  State Auto Financial Corp.  86,009  1,591 
  Student Loan Corp.  34,133  1,590 
*  United Community Banks Inc.  460,845  1,562 
^  German American Bancorp Inc.  95,580  1,553 
  Berkshire Hills Bancorp Inc.  74,489  1,540 
*  CNA Surety Corp.  103,324  1,539 
*  Citizens Inc.  235,340  1,537 
  Calamos Asset Management Inc. Class A  133,230  1,536 
  Associated Estates Realty Corp.  135,073  1,522 
  Oppenheimer Holdings Inc. Class A  44,927  1,492 
  Kite Realty Group Trust  365,060  1,486 
  Urstadt Biddle Properties Inc. Class A  97,223  1,485 
  MVC Capital Inc.  125,080  1,476 
  Republic Bancorp Inc. Class A  71,528  1,473 
*  Safeguard Scientifics Inc.  141,142  1,455 
  Duff & Phelps Corp. Class A  78,628  1,436 
*,^  Ambac Financial Group Inc.  1,728,941  1,435 
  1st Source Corp.  88,570  1,425 
  Northfield Bancorp Inc.  103,461  1,399 
  First Bancorp  99,502  1,390 
  StellarOne Corp.  139,555  1,390 
  Univest Corp. of Pennsylvania  79,250  1,389 
*  Broadpoint Gleacher Securities Inc.  310,307  1,384 
*  International Assets Holding Corp.  93,887  1,365 
  First Industrial Realty Trust Inc.  260,373  1,362 
  Washington Trust Bancorp Inc.  84,578  1,318 
  BankFinancial Corp.  133,089  1,318 
  Southside Bancshares Inc.  66,423  1,303 
  Home Federal Bancorp Inc.  97,846  1,302 
  BGC Partners Inc. Class A  281,622  1,301 
  Education Realty Trust Inc.  265,469  1,285 
  Ramco-Gershenson Properties Trust  133,887  1,277 
  Stewart Information Services Corp.  112,194  1,266 
  ESSA Bancorp Inc.  106,926  1,251 
  US Global Investors Inc. Class A  100,845  1,241 
  WSFS Financial Corp.  48,363  1,240 
  Westwood Holdings Group Inc.  33,753  1,227 
  Trico Bancshares  73,519  1,224 
*  Citizens Republic Bancorp Inc.  1,764,367  1,217 
  Capital Southwest Corp.  15,447  1,217 
  Presidential Life Corp.  132,041  1,208 
  Amtrust Financial Services Inc.  101,859  1,204 
  Heartland Financial USA Inc.  81,636  1,171 
  Camden National Corp.  35,789  1,170 

16


Vanguard® Extended Market Index Fund Schedule of Investments December 31, 2009

    Market 
    Value 
  Shares  ($000) 
Mission West Properties Inc.  158,919  1,143 
BlackRock Kelso Capital Corp.  132,358  1,128 
* Bancorp Inc.  164,235  1,127 
Wilshire Bancorp Inc.  137,491  1,126 
American Physicians Service Group Inc.  48,798  1,126 
* Gramercy Capital Corp.  434,236  1,125 
Consolidated-Tomoka Land Co.  32,111  1,122 
OceanFirst Financial Corp.  98,726  1,116 
Northrim BanCorp Inc.  65,629  1,108 
First Financial Northwest Inc.  167,124  1,095 
* PMA Capital Corp. Class A  173,720  1,094 
PennantPark Investment Corp.  122,185  1,090 
United Financial Bancorp Inc.  83,047  1,089 
First Financial Holdings Inc.  83,162  1,080 
Financial Institutions Inc.  91,598  1,079 
First BanCorp  466,939  1,074 
* LaBranche & Co. Inc.  376,789  1,070 
* FelCor Lodging Trust Inc.  295,033  1,062 
Donegal Group Inc. Class B  63,194  1,062 
Lakeland Financial Corp.  61,272  1,057 
CapLease Inc.  237,605  1,041 
Capital City Bank Group Inc.  74,850  1,036 
Sterling Bancorp  145,077  1,036 
* Credit Acceptance Corp.  24,587  1,035 
Union Bankshares Corp.  83,013  1,029 
PMI Group Inc.  403,557  1,017 
* Taylor Capital Group Inc.  88,875  1,012 
TICC Capital Corp.  164,147  993 
^ National Bankshares Inc.  34,688  981 
Lakeland Bancorp Inc.  152,866  977 
* Virtus Investment Partners Inc.  61,413  976 
ViewPoint Financial Group  67,761  976 
^ Asta Funding Inc.  136,294  966 
NGP Capital Resources Co.  117,877  958 
* Western Alliance Bancorp  251,912  952 
Abington Bancorp Inc.  137,677  949 
Glimcher Realty Trust  349,357  943 
Agree Realty Corp.  40,341  940 
First Mercury Financial Corp.  68,488  939 
Gladstone Capital Corp.  121,315  934 
* Tree.com Inc.  101,474  928 
Diamond Hill Investment Group Inc.  14,404  925 
Century Bancorp Inc. Class A  41,622  917 
American National Bankshares Inc.  41,223  903 
Monmouth Real Estate Investment Corp. Class A  121,158  901 
Sanders Morris Harris Group Inc.  163,797  901 
Cogdell Spencer Inc.  156,250  884 
Center Bancorp Inc.  98,841  882 
Thomas Properties Group Inc.  297,000  879 
Sandy Spring Bancorp Inc.  97,843  870 
Hudson Valley Holding Corp.  35,129  866 
* Penson Worldwide Inc.  95,541  866 
Clifton Savings Bancorp Inc.  92,302  865 
One Liberty Properties Inc.  98,470  865 
First Merchants Corp.  144,963  861 
* Harris & Harris Group Inc.  188,350  861 
* FBR Capital Markets Corp.  137,308  849 
EMC Insurance Group Inc.  39,256  844 
* Guaranty Bancorp  634,715  838 
* Territorial Bancorp Inc.  46,300  836 
* Asset Acceptance Capital Corp.  122,392  830 
Oritani Financial Corp.  60,058  825 
* Strategic Hotels & Resorts Inc.  440,121  819 
West Bancorporation Inc.  162,078  799 

17


Vanguard® Extended Market Index Fund
Schedule of Investments
December 31, 2009

      Market 
      Value 
    Shares  ($000) 
  Pacific Continental Corp.  69,398  794 
  Peoples Bancorp Inc.  81,450  788 
  Heritage Financial Corp.  56,863  784 
  MainSource Financial Group Inc.  163,295  781 
^  W Holding Co. Inc.  33,815  774 
^  United Security Bancshares  44,680  766 
*  Avatar Holdings Inc.  44,990  765 
*  Crawford & Co. Class B  193,655  763 
  Rewards Network Inc.  60,034  759 
^  Life Partners Holdings Inc.  35,572  754 
  First Community Bancshares Inc.  61,895  746 
*  HFF Inc. Class A  118,064  738 
  Merchants Bancshares Inc.  32,113  727 
*  Cardtronics Inc.  65,655  727 
  Hersha Hospitality Trust  229,339  720 
*  Pzena Investment Management Inc. Class A  88,034  717 
  Kohlberg Capital Corp.  156,231  712 
  Federal Agricultural Mortgage Corp.  101,520  712 
  CoBiz Financial Inc.  146,939  698 
  First Bancorp Inc.  44,231  682 
  Centerstate Banks Inc.  67,263  679 
  Universal Insurance Holdings Inc.  114,133  670 
*  Sun Bancorp Inc.  176,157  661 
^  Orrstown Financial Services Inc.  18,890  659 
*  Metro Bancorp Inc.  52,329  658 
*  Eagle Bancorp Inc.  62,784  657 
  Gladstone Investment Corp.  143,147  653 
  ESB Financial Corp.  48,715  644 
*  Virginia Commerce Bancorp  171,561  640 
  Southwest Bancorp Inc.  90,718  630 
  Kansas City Life Insurance Co.  20,934  623 
  Meta Financial Group Inc.  29,670  620 
*  NewBridge Bancorp  277,243  615 
  Bridge Bancorp Inc.  25,536  614 
  First Busey Corp.  157,163  611 
^  BankAtlantic Bancorp Inc. Class A  465,664  605 
  Wainwright Bank & Trust Co.  81,646  596 
*,^  Superior Bancorp  179,781  591 
  First of Long Island Corp.  23,315  589 
  Urstadt Biddle Properties Inc.  38,700  581 
*  Meridian Interstate Bancorp Inc.  65,785  572 
  CompuCredit Holdings Corp.  166,986  556 
  Winthrop Realty Trust  50,834  552 
  Shore Bancshares Inc.  38,133  551 
  Bank of Marin Bancorp  16,894  550 
  NYMAGIC Inc.  32,639  541 
*  Bridge Capital Holdings  77,162  540 
*  Republic First Bancorp Inc.  126,432  540 
  PMC Commercial Trust  71,953  540 
*,^  United Security Bancshares  121,945  534 
  Bancorp Rhode Island Inc.  20,784  534 
  Penns Woods Bancorp Inc.  16,442  533 
  Pulaski Financial Corp.  78,288  525 
  Ameris Bancorp  73,006  523 
  Medallion Financial Corp.  63,650  520 
*  NewStar Financial Inc.  132,536  520 
*  Thomas Weisel Partners Group Inc.  136,483  516 
  Roma Financial Corp.  41,702  515 
  21st Century Holding Co.  127,512  514 
  Center Financial Corp.  111,584  513 
  Epoch Holding Corp.  48,911  511 
*  Artio Global Investors Inc.  20,000  510 
*  Hanmi Financial Corp.  423,961  509 
  Bryn Mawr Bank Corp.  33,573  507 

18


Vanguard® Extended Market Index Fund
Schedule of Investments
December 31, 2009

      Market 
      Value 
    Shares  ($000) 
*  First Marblehead Corp.  237,314  505 
  Gladstone Commercial Corp.  37,062  497 
  TF Financial Corp.  25,939  492 
  South Financial Group Inc.  758,774  489 
^  Pacific Capital Bancorp NA  504,641  484 
  Mercer Insurance Group Inc.  26,638  484 
  Enterprise Financial Services Corp.  62,233  480 
*  AmeriServ Financial Inc.  285,515  477 
  K-Fed Bancorp  53,932  474 
  Brooklyn Federal Bancorp Inc.  46,900  471 
  MutualFirst Financial Inc.  80,909  468 
  First South Bancorp Inc.  45,046  464 
  Washington Banking Co.  38,641  461 
  State Bancorp Inc.  64,447  458 
  MicroFinancial Inc.  147,515  456 
*  Home Bancorp Inc.  36,969  451 
*  Firstcity Financial Corp.  60,198  450 
^  Old Second Bancorp Inc.  65,295  450 
  Citizens & Northern Corp.  46,982  448 
  Peapack Gladstone Financial Corp.  35,150  446 
*  1st United Bancorp Inc.  61,702  441 
*  Pacific Mercantile Bancorp  144,542  439 
  JMP Group Inc.  45,009  437 
  Ames National Corp.  20,467  432 
  Donegal Group Inc. Class A  27,120  421 
*  Marlin Business Services Corp.  52,933  420 
  Community Capital Corp.  143,414  416 
*,^  Doral Financial Corp.  112,724  409 
*  United Community Financial Corp.  281,806  409 
  First United Corp.  66,942  402 
  Yadkin Valley Financial Corp.  108,892  399 
  NASB Financial Inc.  17,087  398 
*,^  Amcore Financial Inc.  316,735  393 
*  Cape Bancorp Inc.  58,399  392 
  Smithtown Bancorp Inc.  65,004  387 
  Rockville Financial Inc.  35,331  371 
*,^  Central Pacific Financial Corp.  282,734  370 
  Alliance Financial Corp.  13,507  367 
*  Louisiana Bancorp Inc.  24,568  359 
  Invesco Mortgage Capital Inc.  15,635  356 
*  Fox Chase Bancorp Inc.  37,110  353 
*  Chicopee Bancorp Inc.  28,133  351 
  Citizens South Banking Corp.  76,315  350 
  Sierra Bancorp  45,032  344 
*,^  Maguire Properties Inc.  224,392  339 
*  Reis Inc.  54,774  337 
  Triangle Capital Corp.  27,470  332 
  Timberland Bancorp Inc.  74,616  331 
*  Nicholas Financial Inc.  47,960  330 
  Peoples Bancorp of North Carolina Inc.  64,718  330 
  Eastern Insurance Holdings Inc.  38,260  330 
  American River Bankshares  41,956  330 
  First Security Group Inc.  137,838  328 
  CNB Financial Corp.  20,461  327 
  Prudential Bancorp Inc. of Pennsylvania  34,228  326 
  Indiana Community Bancorp  42,202  325 
  Hawthorn Bancshares Inc.  34,040  325 
  Ocean Shore Holding Co.  35,411  319 
  First Place Financial Corp.  114,212  316 
  UMH Properties Inc.  37,242  316 
  Legacy Bancorp Inc.  31,980  315 
  MetroCorp Bancshares Inc.  89,829  314 
*,^  Macatawa Bank Corp.  144,632  314 
  Farmers Capital Bank Corp.  30,673  313 

19


Vanguard® Extended Market Index Fund
Schedule of Investments
December 31, 2009

      Market 
      Value 
    Shares  ($000) 
^  Cascade Bancorp  451,362  311 
  Heritage Commerce Corp.  75,476  303 
  Jefferson Bancshares Inc.  67,279  302 
  Main Street Capital Corp.  18,619  300 
  Middleburg Financial Corp.  24,377  299 
*  Southcoast Financial Corp.  91,720  296 
  First Defiance Financial Corp.  26,006  294 
*  ZipRealty Inc.  77,082  290 
*  First Acceptance Corp.  146,908  286 
*,^  Sterling Financial Corp.  457,101  283 
*  Waterstone Financial Inc.  136,825  280 
*  Intervest Bancshares Corp. Class A  85,121  279 
  Citizens Holding Co.  12,460  279 
  Kayne Anderson Energy Development Co.  18,971  276 
  QC Holdings Inc.  57,299  276 
^  Green Bankshares Inc.  77,176  274 
*  Stratus Properties Inc.  24,795  273 
  MBT Financial Corp.  178,886  268 
*  Cowen Group Inc. Class A  44,774  265 
  North Valley Bancorp  126,638  265 
*  Arlington Asset Investment Corp. Class A  17,105  261 
  Capital Bank Corp.  67,607  260 
^  Banner Corp.  95,723  257 
  Firstbank Corp.  30,238  256 
  CFS Bancorp Inc.  79,158  256 
  West Coast Bancorp  121,235  255 
  Parkvale Financial Corp.  36,069  251 
  United Western Bancorp Inc.  90,789  251 
  Colony Bankcorp Inc.  53,831  249 
^  BancTrust Financial Group Inc.  86,390  248 
*,^  Columbia Bancorp  204,994  244 
  WSB Holdings Inc.  100,139  243 
*  Flagstar Bancorp Inc.  402,829  242 
  Southern Community Financial Corp.  103,218  238 
  Supertel Hospitality Inc.  158,192  237 
  Cypress Sharpridge Investments Inc.  17,500  236 
  Summit Financial Group Inc.  61,208  236 
  Pamrapo Bancorp Inc.  29,889  235 
*  Fidelity Southern Corp.  64,998  234 
  Premierwest Bancorp  161,287  229 
  Princeton National Bancorp Inc.  20,180  218 
^  City Bank  124,682  217 
  Seacoast Banking Corp. of Florida  130,362  212 
  Cascade Financial Corp.  93,296  207 
*  Ladenburg Thalmann Financial Services Inc.  317,521  203 
  BRT Realty Trust  39,682  202 
*  First State Bancorporation  499,317  199 
  VIST Financial Corp.  37,845  197 
  Provident Financial Holdings Inc.  69,499  192 
*  HMN Financial Inc.  45,151  190 
  Independence Holding Co.  32,415  188 
^  Capitol Bancorp Ltd.  90,982  178 
  Tortoise Capital Resources Corp.  27,075  177 
*,^  Frontier Financial Corp.  49,926  175 
  Camco Financial Corp.  86,951  165 
  Community Bankers Trust Corp.  50,010  163 
  Integra Bank Corp.  214,786  159 
*  Riverview Bancorp Inc.  70,929  158 
  Bar Harbor Bankshares  5,747  158 
^  Hampton Roads Bankshares Inc.  91,064  158 
  Tower Bancorp Inc.  6,702  153 
  Ohio Valley Banc Corp.  6,899  152 
^  Independent Bank Corp.  208,241  150 
*  Northern States Financial Corp.  36,253  146 

20


Vanguard® Extended Market Index Fund
Schedule of Investments
December 31, 2009

      Market 
      Value 
    Shares  ($000) 
*  Grubb & Ellis Co.  113,800  146 
  Hampden Bancorp Inc.  13,609  145 
*  Guaranty Federal Bancshares Inc.  27,970  142 
*  Central Jersey Bancorp  47,319  141 
*,^  Bank of Florida Corp.  165,199  135 
*  Encore Bancshares Inc.  16,598  132 
  Mercantile Bank Corp.  42,927  129 
  Centrue Financial Corp.  44,199  118 
*,^  EuroBancshares Inc.  239,480  117 
  Old Point Financial Corp.  7,519  117 
*  TierOne Corp.  166,615  117 
*  Rodman & Renshaw Capital Group Inc.  28,062  115 
*,^  PAB Bankshares Inc.  51,879  114 
*  TIB Financial Corp.  175,035  114 
*  Bank of Granite Corp.  222,350  113 
  Heritage Financial Group  15,243  111 
  Preferred Bank  60,692  109 
*  Maui Land & Pineapple Co. Inc.  19,474  108 
  Cadence Financial Corp.  58,584  103 
*  Consumer Portfolio Services Inc.  87,963  100 
  First Citizens Banc Corp.  21,522  100 
  MidWestOne Financial Group Inc.  10,170  89 
^  FNB United Corp.  68,477  86 
  Federal Agricultural Mortgage Corp. Class A  12,788  84 
*  Anchor Bancorp Wisconsin Inc.  126,491  80 
  Atlantic Coast Federal Corp.  51,557  78 
*,^  Midwest Banc Holdings Inc.  192,244  69 
  Midsouth Bancorp Inc.  4,719  66 
  First Financial Service Corp.  6,376  58 
*  Dearborn Bancorp Inc.  113,719  51 
*  BofI Holding Inc.  5,000  50 
*,^  Citizens First Bancorp Inc.  126,696  49 
*  Royal Bancshares of Pennsylvania Inc.  37,019  48 
*,^  First Regional Bancorp  136,790  48 
  Peoples Financial Corp.  2,135  43 
*  Investors Capital Holdings Ltd.  26,400  36 
*,^  Mercantile Bancorp  11,050  33 
*  Pacific Premier Bancorp Inc.  9,200  31 
*,^  Triad Guaranty Inc.  114,378  31 
*  Presidential Realty Corp. Class B  46,000  31 
*  Affirmative Insurance Holdings Inc.  7,091  29 
  Investors Title Co.  700  22 
*  BCSB Bancorp Inc.  2,600  21 
  Commonwealth Bankshares Inc.  11,413  19 
  First Savings Financial Group Inc.  1,847  19 
  Norwood Financial Corp.  600  17 
*  Horizon Financial Corp.  71,939  16 
*  Southern National Bancorp of Virginia Inc.  2,100  15 
*  Neostem Inc.  7,735  12 
*  AMV Liquidating Trust  94,702  11 
  Britton & Koontz Capital Corp.  900  10 
  BCB Bancorp Inc.  1,124  10 
  Rurban Financial Corp.  1,400  10 
*  1st Century Bancshares Inc.  2,705  9 
  Enterprise Bancorp Inc.  806  9 
*  Rainier Pacific Financial Group Inc.  37,527  8 
  Beacon Federal Bancorp Inc.  870  8 
*  First California Financial Group Inc.  3,000  8 
*  Magyar Bancorp Inc.  2,000  8 
*  Rand Capital Corp.  1,900  8 
*  Unity Bancorp Inc.  1,864  8 
*  Village Bank and Trust Financial Corp.  2,400  5 
  Codorus Valley Bancorp Inc.  900  5 
*  Citizens Community Bancorp Inc.  1,253  4 

21


Vanguard® Extended Market Index Fund
Schedule of Investments
December 31, 2009

    Market 
    Value 
  Shares  ($000) 
* First Keystone Financial Inc.  300  4 
* Mid Penn Bancorp Inc.  200  2 
* First Capital Bancorp Inc.  429  2 
New Hampshire Thrift Bancshares Inc.  200  2 
* Tennessee Commerce Bancorp Inc.  300  1 
Teton Advisors Inc. Class B  564  1 
* Community Financial Corp.  300  1 
* FedFirst Financial Corp.  300  1 
United Bancorp Inc.  100  1 
* Tower Financial Corp.  100  1 
* Atlantic Southern Financial Group Inc.  100  — 
    2,272,834 
Health Care (12.7%)     
* Vertex Pharmaceuticals Inc.  1,158,210  49,629 
* Cerner Corp.  407,296  33,577 
* Human Genome Sciences Inc.  1,084,851  33,196 
* Edwards Lifesciences Corp.  340,094  29,537 
* Henry Schein Inc.  543,867  28,607 
Beckman Coulter Inc.  416,726  27,271 
* Alexion Pharmaceuticals Inc.  532,430  25,993 
* ResMed Inc.  450,645  23,555 
* Illumina Inc.  751,919  23,046 
* Hologic Inc.  1,550,660  22,485 
* Mettler-Toledo International Inc.  202,894  21,302 
* Covance Inc.  384,944  21,006 
* Inverness Medical Innovations Inc.  499,752  20,745 
* Community Health Systems Inc.  558,680  19,889 
Perrigo Co.  483,665  19,269 
* IDEXX Laboratories Inc.  352,251  18,824 
* Dendreon Corp.  696,968  18,316 
Universal Health Services Inc. Class B  591,489  18,040 
Omnicare Inc.  717,348  17,345 
* Mednax Inc.  279,480  16,800 
Pharmaceutical Product Development Inc.  710,364  16,651 
Techne Corp.  222,877  15,280 
* Lincare Holdings Inc.  409,533  15,202 
* Myriad Genetics Inc.  578,304  15,094 
* United Therapeutics Corp.  284,874  14,999 
* Health Net Inc.  624,766  14,551 
* Endo Pharmaceuticals Holdings Inc.  704,853  14,457 
* Kinetic Concepts Inc.  372,515  14,025 
* Charles River Laboratories International Inc.  396,238  13,349 
* Valeant Pharmaceuticals International  405,850  12,902 
Teleflex Inc.  238,409  12,848 
* Gen-Probe Inc.  299,210  12,836 
* VCA Antech Inc.  513,835  12,805 
* BioMarin Pharmaceutical Inc.  605,509  11,390 
* Bio-Rad Laboratories Inc. Class A  115,094  11,102 
* Onyx Pharmaceuticals Inc.  373,542  10,960 
* Health Management Associates Inc. Class A  1,493,288  10,856 
* OSI Pharmaceuticals Inc.  348,981  10,829 
Owens & Minor Inc.  251,722  10,806 
* LifePoint Hospitals Inc.  329,313  10,706 
* Amylin Pharmaceuticals Inc.  749,866  10,641 
* Healthsouth Corp.  560,851  10,527 
Cooper Cos. Inc.  271,679  10,356 
STERIS Corp.  353,136  9,877 
Medicis Pharmaceutical Corp. Class A  357,628  9,674 
* Masimo Corp.  312,258  9,499 
* WellCare Health Plans Inc.  254,427  9,353 
* Regeneron Pharmaceuticals Inc.  382,336  9,245 
* Thoratec Corp.  341,910  9,204 
* athenahealth Inc.  202,542  9,163 
* Emergency Medical Services Corp. Class A  167,235  9,056 

22


Vanguard® Extended Market Index Fund
Schedule of Investments
December 31, 2009

      Market 
      Value 
    Shares  ($000) 
  Hill-Rom Holdings Inc.  376,758  9,038 
*  Varian Inc.  173,838  8,960 
*  American Medical Systems Holdings Inc.  447,532  8,633 
*  Magellan Health Services Inc.  211,433  8,612 
*  Immucor Inc.  421,663  8,534 
*  Haemonetics Corp.  154,000  8,493 
*  Salix Pharmaceuticals Ltd.  333,705  8,476 
*  AMERIGROUP Corp.  314,109  8,468 
*  Catalyst Health Solutions Inc.  231,063  8,427 
*  Auxilium Pharmaceuticals Inc.  280,295  8,403 
*,^  Amedisys Inc.  167,741  8,146 
*  PSS World Medical Inc.  358,950  8,101 
*  Dionex Corp.  106,558  7,871 
  West Pharmaceutical Services Inc.  198,458  7,780 
*  HMS Holdings Corp.  156,736  7,631 
*,^  NuVasive Inc.  229,809  7,349 
*  Allscripts-Misys Healthcare Solutions Inc.  357,684  7,236 
*  Align Technology Inc.  402,099  7,165 
*  Psychiatric Solutions Inc.  338,196  7,149 
  Quality Systems Inc.  113,663  7,137 
*  Medivation Inc.  177,316  6,676 
*  Cubist Pharmaceuticals Inc.  348,407  6,609 
*  Talecris Biotherapeutics Holdings Corp.  295,412  6,579 
*  Isis Pharmaceuticals Inc.  591,433  6,565 
  Chemed Corp.  135,615  6,505 
*  Incyte Corp. Ltd.  712,694  6,493 
*  Eclipsys Corp.  342,483  6,343 
*  ev3 Inc.  451,560  6,024 
*  Acorda Therapeutics Inc.  229,234  5,781 
*  Par Pharmaceutical Cos. Inc.  209,371  5,666 
*  Centene Corp.  258,774  5,478 
*  Savient Pharmaceuticals Inc.  400,553  5,452 
*  Alkermes Inc.  570,159  5,365 
  Meridian Bioscience Inc.  243,946  5,257 
*  Nektar Therapeutics  560,321  5,222 
*  Healthspring Inc.  294,298  5,183 
*  Seattle Genetics Inc.  507,774  5,159 
*  Volcano Corp.  292,734  5,088 
*  Brookdale Senior Living Inc.  278,134  5,059 
*  Sirona Dental Systems Inc.  155,309  4,930 
*  Parexel International Corp.  349,585  4,929 
  Invacare Corp.  194,247  4,845 
*  Exelixis Inc.  645,797  4,760 
*  Gentiva Health Services Inc.  176,208  4,759 
*  Impax Laboratories Inc.  334,981  4,556 
*  Integra LifeSciences Holdings Corp.  123,314  4,535 
*  RehabCare Group Inc.  148,272  4,512 
*  Vivus Inc.  484,250  4,450 
*  Wright Medical Group Inc.  232,227  4,401 
*  Cepheid Inc.  352,422  4,398 
*  Kindred Healthcare Inc.  235,100  4,340 
*  Theravance Inc.  324,835  4,246 
*  Amsurg Corp. Class A  184,693  4,067 
*  Conmed Corp.  175,282  3,996 
*  Phase Forward Inc.  260,308  3,996 
*,^  Cell Therapeutics Inc.  3,449,948  3,933 
*  AMAG Pharmaceuticals Inc.  103,285  3,928 
*  Viropharma Inc.  466,862  3,917 
*  Alnylam Pharmaceuticals Inc.  219,230  3,863 
*  Martek Biosciences Corp.  200,583  3,799 
*  Luminex Corp.  251,304  3,752 
*  Healthways Inc.  203,392  3,730 
*  Genoptix Inc.  103,241  3,668 
*  Bruker Corp.  297,167  3,584 

23


Vanguard® Extended Market Index Fund
Schedule of Investments
December 31, 2009

      Market 
      Value 
    Shares  ($000) 
*  Conceptus Inc.  184,866  3,468 
  Landauer Inc.  56,274  3,455 
*  Zoll Medical Corp.  127,557  3,408 
*  Celera Corp.  492,787  3,405 
*  Abaxis Inc.  132,952  3,397 
*  XenoPort Inc.  182,596  3,389 
*  Universal American Corp.  283,456  3,316 
*  inVentiv Health Inc.  202,647  3,277 
*  Merit Medical Systems Inc.  169,241  3,265 
*,^  MannKind Corp.  366,408  3,210 
*  Neogen Corp.  134,733  3,181 
*  Insulet Corp.  222,173  3,173 
*  Emeritus Corp.  166,236  3,117 
*  Odyssey HealthCare Inc.  199,435  3,107 
*  LHC Group Inc.  91,150  3,064 
*,^  Geron Corp.  550,891  3,057 
*  InterMune Inc.  232,712  3,035 
*  MedAssets Inc.  142,815  3,029 
  Analogic Corp.  77,486  2,984 
*  Momenta Pharmaceuticals Inc.  236,116  2,977 
*  Rigel Pharmaceuticals Inc.  311,588  2,963 
*  Cyberonics Inc.  143,549  2,934 
*  PharMerica Corp.  184,190  2,925 
*,^  Enzon Pharmaceuticals Inc.  273,883  2,884 
*  Bio-Reference Labs Inc.  71,902  2,818 
*  ICU Medical Inc.  77,130  2,811 
*  MWI Veterinary Supply Inc.  73,509  2,771 
*  Pharmasset Inc.  133,065  2,754 
*  IPC The Hospitalist Co. Inc.  81,768  2,719 
  Computer Programs & Systems Inc.  58,920  2,713 
*  Immunogen Inc.  344,924  2,711 
*  Greatbatch Inc.  140,075  2,694 
*  Medicines Co.  318,673  2,658 
*  Facet Biotech Corp.  150,745  2,650 
*  Hanger Orthopedic Group Inc.  190,441  2,634 
*  Allos Therapeutics Inc.  387,035  2,543 
*  Natus Medical Inc.  171,782  2,541 
*  Affymetrix Inc.  427,796  2,498 
*  Halozyme Therapeutics Inc.  418,347  2,456 
*  SonoSite Inc.  103,890  2,455 
*  Angiodynamics Inc.  152,179  2,447 
  National Healthcare Corp.  67,293  2,430 
*  Sun Healthcare Group Inc.  262,407  2,406 
*  SurModics Inc.  105,282  2,386 
*  Omnicell Inc.  197,701  2,311 
*  Optimer Pharmaceuticals Inc.  199,065  2,245 
*  Air Methods Corp.  66,038  2,220 
*  Inspire Pharmaceuticals Inc.  399,402  2,205 
*  Quidel Corp.  156,477  2,156 
*  BioScrip Inc.  256,539  2,145 
*  Hi-Tech Pharmacal Co. Inc.  74,682  2,095 
*  DexCom Inc.  258,976  2,093 
*  Kensey Nash Corp.  79,036  2,015 
*  Molina Healthcare Inc.  86,452  1,977 
*  Arena Pharmaceuticals Inc.  552,157  1,960 
*  Corvel Corp.  58,305  1,956 
*  Nabi Biopharmaceuticals  391,645  1,919 
*  Questcor Pharmaceuticals Inc.  402,715  1,913 
*  AMN Healthcare Services Inc.  208,393  1,888 
*  Vanda Pharmaceuticals Inc.  166,556  1,872 
*  Emdeon Inc. Class A  121,484  1,853 
*  OraSure Technologies Inc.  361,640  1,837 
*  Assisted Living Concepts Inc. Class A  68,866  1,816 
*  Curis Inc.  555,554  1,806 

24


Vanguard® Extended Market Index Fund
Schedule of Investments
December 31, 2009

      Market 
      Value 
    Shares  ($000) 
*  Medical Action Industries Inc.  111,928  1,798 
*  Symmetry Medical Inc.  221,954  1,789 
*  Res-Care Inc.  159,539  1,787 
*  Almost Family Inc.  44,821  1,772 
*  Cross Country Healthcare Inc.  177,244  1,756 
*  eResearchTechnology Inc.  289,583  1,740 
*  AMICAS Inc.  319,444  1,738 
*  Zymogenetics Inc.  270,960  1,731 
*  Affymax Inc.  69,330  1,715 
*  Genomic Health Inc.  86,815  1,698 
*  Abraxis Bioscience Inc.  41,848  1,697 
*  US Physical Therapy Inc.  99,281  1,681 
*  Spectranetics Corp.  240,203  1,672 
*  Micrus Endovascular Corp.  109,790  1,648 
*  Select Medical Holdings Corp.  152,700  1,622 
*  ABIOMED Inc.  184,564  1,613 
*  Providence Service Corp.  100,308  1,585 
*,^  Sequenom Inc.  382,433  1,583 
*  Chindex International Inc.  111,429  1,574 
*  Orthovita Inc.  444,876  1,562 
*  Targacept Inc.  74,315  1,555 
*  Dyax Corp.  457,748  1,552 
*  Micromet Inc.  231,415  1,541 
*  Ligand Pharmaceuticals Inc. Class B  705,195  1,530 
*  Cantel Medical Corp.  75,277  1,519 
*  Kendle International Inc.  81,845  1,499 
*  IRIS International Inc.  119,107  1,472 
*,^  SIGA Technologies Inc.  250,498  1,453 
*  Immunomedics Inc.  449,793  1,444 
*  Accuray Inc.  256,289  1,438 
*  Ariad Pharmaceuticals Inc.  624,471  1,424 
*  Albany Molecular Research Inc.  155,812  1,415 
*  Sangamo Biosciences Inc.  237,396  1,405 
*  Cypress Bioscience Inc.  237,110  1,366 
*  ATS Medical Inc.  421,920  1,363 
*  Accelrys Inc.  236,904  1,357 
*  Emergent Biosolutions Inc.  98,321  1,336 
*,^  BioCryst Pharmaceuticals Inc.  205,932  1,330 
*  Durect Corp.  535,482  1,323 
*  Maxygen Inc.  216,205  1,317 
*  Rural/Metro Corp.  214,406  1,286 
*  Sunrise Senior Living Inc.  398,099  1,282 
*,^  Cadence Pharmaceuticals Inc.  132,087  1,277 
*  CryoLife Inc.  194,985  1,252 
*,^  Novavax Inc.  468,773  1,247 
*  Santarus Inc.  269,313  1,244 
*  American Dental Partners Inc.  96,186  1,241 
*  Palomar Medical Technologies Inc.  122,958  1,239 
*  Exact Sciences Corp.  362,718  1,230 
*  RTI Biologics Inc.  313,352  1,203 
*  Five Star Quality Care Inc.  345,896  1,200 
*  Pharmacyclics Inc.  372,480  1,170 
*  Stereotaxis Inc.  297,361  1,169 
*  Array Biopharma Inc.  412,192  1,158 
  America Service Group Inc.  72,752  1,155 
*  Lexicon Pharmaceuticals Inc.  675,719  1,149 
*,^  StemCells Inc.  905,970  1,142 
*  TomoTherapy Inc.  290,085  1,131 
*,^  CytRx Corp.  1,009,313  1,130 
*  Depomed Inc.  335,415  1,124 
*  Endologix Inc.  207,586  1,096 
*  NPS Pharmaceuticals Inc.  317,810  1,081 
*  AVANIR Pharmaceuticals Inc.  566,183  1,076 
*  Vital Images Inc.  84,068  1,067 

25


Vanguard® Extended Market Index Fund
Schedule of Investments
December 31, 2009

      Market 
      Value 
    Shares  ($000) 
*,^  Clinical Data Inc.  58,244  1,064 
*  Health Grades Inc.  246,767  1,059 
*  Spectrum Pharmaceuticals Inc.  237,685  1,055 
*  Metabolix Inc.  94,943  1,051 
*  Merge Healthcare Inc.  312,267  1,049 
*  Medidata Solutions Inc.  65,656  1,024 
*  Somanetics Corp.  57,910  1,016 
*  Vascular Solutions Inc.  119,037  999 
*  Pozen Inc.  165,888  994 
*,^  Bovie Medical Corp.  126,095  985 
*  Repligen Corp.  238,952  982 
*  NxStage Medical Inc.  116,347  971 
*,^  Jazz Pharmaceuticals Inc.  123,120  970 
  Atrion Corp.  6,228  970 
*  Ardea Biosciences Inc.  68,200  955 
*,^  Electro-Optical Sciences Inc.  89,223  924 
*  Cambrex Corp.  165,008  921 
*  Enzo Biochem Inc.  169,643  913 
*  BioMimetic Therapeutics Inc.  74,169  885 
*  Sciclone Pharmaceuticals Inc.  379,106  883 
*  Allion Healthcare Inc.  132,942  872 
*  Harvard Bioscience Inc.  243,053  868 
*  Skilled Healthcare Group Inc.  115,274  859 
*  Pain Therapeutics Inc.  157,862  846 
*  Celldex Therapeutics Inc.  180,671  846 
*  HeartWare International Inc.  23,788  844 
*,^  GenVec Inc.  702,536  843 
*  Opko Health Inc.  457,114  837 
*  Orexigen Therapeutics Inc.  111,064  826 
*  Alliance HealthCare Services Inc.  144,621  826 
*  Arqule Inc.  219,990  812 
*  Cytokinetics Inc.  278,873  812 
*  SenoRx Inc.  97,050  801 
*  Staar Surgical Co.  256,210  797 
*  Clarient Inc.  300,232  796 
*  Neurocrine Biosciences Inc.  292,138  795 
*  KV Pharmaceutical Co. Class A  213,435  783 
*  Transcend Services Inc.  36,384  777 
*  Peregrine Pharmaceuticals Inc.  261,726  775 
*,^  Osiris Therapeutics Inc.  107,552  768 
*,^  MAKO Surgical Corp.  69,072  767 
*  National Dentex Corp.  75,636  764 
*  Obagi Medical Products Inc.  63,658  764 
*  Akorn Inc.  425,817  762 
*  Idera Pharmaceuticals Inc.  145,210  751 
*  LeMaitre Vascular Inc.  149,079  745 
*  Synovis Life Technologies Inc.  56,673  732 
*  Capital Senior Living Corp.  144,921  728 
*  Insmed Inc.  943,291  726 
*  Penwest Pharmaceuticals Co.  280,417  726 
*  Myriad Pharmaceuticals Inc.  141,491  712 
*  Allied Healthcare International Inc.  243,399  708 
*  Medcath Corp.  89,522  708 
*  XOMA Ltd.  1,005,954  703 
*  AGA Medical Holdings Inc.  47,500  702 
*,^  Cel-Sci Corp.  777,686  700 
*  Alphatec Holdings Inc.  130,340  696 
*  Cynosure Inc. Class A  60,575  696 
*  Icad Inc.  456,882  694 
  Ensign Group Inc.  44,615  686 
*  Caliper Life Sciences Inc.  266,041  684 
*,^  NovaMed Inc.  175,127  679 
*  Corcept Therapeutics Inc.  243,430  677 
*  Anadys Pharmaceuticals Inc.  318,889  673 

26


Vanguard® Extended Market Index Fund
Schedule of Investments
December 31, 2009

      Market 
      Value 
    Shares  ($000) 
*  MAP Pharmaceuticals Inc.  70,394  671 
*  Cerus Corp.  331,236  659 
*  Anika Therapeutics Inc.  86,218  658 
*  Osteotech Inc.  203,539  651 
*  Vical Inc.  197,215  649 
*,^  AVI BioPharma Inc.  439,473  642 
*  ISTA Pharmaceuticals Inc.  140,179  639 
*  Infinity Pharmaceuticals Inc.  103,074  637 
*  Mediware Information Systems  88,682  632 
*  Adolor Corp.  431,380  630 
*  Digirad Corp.  299,064  628 
*  LCA-Vision Inc.  122,142  625 
*  Progenics Pharmaceuticals Inc.  136,878  608 
*,^  Cytori Therapeutics Inc.  99,393  606 
*  SuperGen Inc.  228,759  599 
  Psychemedics Corp.  78,881  580 
*,^  Discovery Laboratories Inc.  915,417  575 
*  Idenix Pharmaceuticals Inc.  261,929  563 
*  Nighthawk Radiology Holdings Inc.  122,059  553 
*  AtriCure Inc.  90,142  544 
  Young Innovations Inc.  21,951  544 
*  OncoGenex Pharmaceutical Inc.  23,720  528 
*  Columbia Laboratories Inc.  481,762  520 
*  CombiMatrix Corp.  82,549  520 
*  Javelin Pharmaceuticals Inc.  398,609  518 
*  Exactech Inc.  28,814  499 
*  Rochester Medical Corp.  44,655  497 
*  Cutera Inc.  58,077  494 
*  Caraco Pharmaceutical Laboratories Ltd.  81,631  493 
*  BioForm Medical Inc.  143,500  488 
*  Dialysis Corp. Of America  66,702  479 
*,^  GTx Inc.  113,195  475 
*  Medtox Scientific Inc.  60,813  471 
*  Delcath Systems Inc.  88,052  453 
*  CardioNet Inc.  75,569  449 
*,^  Hemispherx Biopharma Inc.  798,191  447 
*  Synta Pharmaceuticals Corp.  87,407  442 
*  Continucare Corp.  95,248  416 
*  PDI Inc.  85,154  410 
*  RadNet Inc.  200,242  408 
*  Dusa Pharmaceuticals Inc.  263,343  406 
*,^  Oncothyreon Inc.  74,478  401 
*  Biolase Technology Inc.  210,384  400 
*  Urologix Inc.  212,418  393 
*  Alexza Pharmaceuticals Inc.  160,135  384 
*,^  Inovio Biomedical Corp.  336,955  384 
*,^  Keryx Biopharmaceuticals Inc.  152,536  381 
*  Acadia Pharmaceuticals Inc.  278,983  368 
*  BioSphere Medical Inc.  131,795  361 
*  Theragenics Corp.  269,296  361 
*,^  Molecular Insight Pharmaceuticals Inc.  159,986  360 
*  Matrixx Initiatives Inc.  85,255  360 
*,^  OXiGENE Inc.  313,090  357 
*,^  Biosante Pharmaceuticals Inc.  244,109  354 
*  Hansen Medical Inc.  114,000  345 
*  HealthTronics Inc.  128,264  339 
*  Iridex Corp.  106,938  328 
*,^  Poniard Pharmaceuticals Inc.  178,217  326 
*  Orchid Cellmark Inc.  187,368  320 
*  Chelsea Therapeutics International Inc.  118,013  319 
*  Nanosphere Inc.  49,108  316 
*  AspenBio Pharma Inc.  179,837  313 
*  Inhibitex Inc.  332,488  306 

27


Vanguard® Extended Market Index Fund
Schedule of Investments
December 31, 2009

      Market 
      Value 
    Shares  ($000) 
*  Metropolitan Health Networks Inc.  147,590  294 
*  ThermoGenesis Corp.  496,552  284 
  National Research Corp.  13,282  275 
*  Rockwell Medical Technologies Inc.  35,680  274 
*  Orthologic Corp.  376,473  271 
*,^  Opexa Therapeutics Inc.  140,852  268 
*  Arcadia Resources Inc.  531,527  266 
*  NMT Medical Inc.  106,649  263 
*  Cyclacel Pharmaceuticals Inc.  253,256  263 
*  Synergetics USA Inc.  194,204  258 
*  Aastrom Biosciences Inc.  838,008  258 
*  Arrowhead Research Corp.  464,894  246 
*  Cardiac Science Corp.  107,874  241 
*  Candela Corp.  78,168  237 
*  Heska Corp.  447,838  236 
*  Biospecifics Technologies Corp.  7,800  229 
*  Home Diagnostics Inc.  36,894  225 
*  Animal Health International Inc.  89,044  214 
*,^  MiddleBrook Pharmaceuticals Inc.  413,094  211 
*  Nexmed Inc.  749,203  210 
*,^  Cleveland Biolabs Inc.  60,932  202 
*  Entremed Inc.  252,022  202 
*  Dynavax Technologies Corp.  138,658  197 
*  RXi Pharmaceuticals Corp.  42,010  192 
  Trimeris Inc.  71,963  189 
*,^  EpiCept Corp.  324,967  188 
*  SRI/Surgical Express Inc.  91,061  187 
  Utah Medical Products Inc.  6,221  182 
*  Trubion Pharmaceuticals Inc.  46,955  181 
*,^  Antigenics Inc.  254,703  163 
*  Sunesis Pharmaceuticals Inc.  150,962  162 
*  Pure Bioscience  112,129  161 
*  Biodel Inc.  37,133  161 
*,^  Acura Pharmaceuticals Inc.  29,677  158 
*  OTIX Global Inc.  189,087  157 
*  TranS1 Inc.  38,737  153 
*  Metabasis Therapeutics Inc.  395,811  152 
*  Escalon Medical Corp.  91,117  143 
*  Neuralstem Inc.  78,631  141 
*  Cardiovascular Systems Inc.  29,788  137 
*  Lannett Co. Inc.  21,303  126 
*  Hythiam Inc.  281,612  124 
*,^  Somaxon Pharmaceuticals Inc.  111,696  121 
*  Hollis-Eden Pharmaceuticals  222,016  118 
*  Neurometrix Inc.  47,558  117 
*  Sucampo Pharmaceuticals Inc. Class A  28,768  116 
*  SunLink Health Systems Inc.  59,100  109 
*  American Caresource Holdings Inc.  45,139  108 
*  ARCA Biopharma Inc.  33,145  108 
*  Quigley Corp.  49,487  99 
*  Repros Therapeutics Inc.  121,899  97 
*,^  PhotoMedex Inc.  95,458  91 
*  Bioanalytical Systems Inc.  86,496  90 
*  Combinatorx Inc.  107,111  89 
*  Cornerstone Therapeutics Inc.  13,447  82 
*,^  Encorium Group Inc.  300,015  81 
*,^  Bionovo Inc.  167,131  79 
*  Retractable Technologies Inc.  48,106  79 
*  BioDelivery Sciences International Inc.  19,682  77 
*  CPEX Pharmaceuticals Inc.  6,397  72 
*  Cardica Inc.  58,117  67 
*  Rexahn Pharmaceuticals Inc.  98,289  67 
*  ARYx Therapeutics Inc.  20,000  64 
*  SCOLR Pharma Inc.  127,266  60 

28


Vanguard® Extended Market Index Fund
Schedule of Investments
December 31, 2009

      Market 
      Value 
    Shares  ($000) 
*  Icagen Inc.  130,110  59 
*,^  Helicos BioSciences Corp.  54,398  56 
*  Targeted Genetics Corp.  195,595  55 
*,^  Speedus Corp.  19,899  52 
*  GTC Biotherapeutics Inc.  68,612  51 
*  ZIOPHARM Oncology Inc.  17,100  51 
*  Interleukin Genetics Inc.  56,801  48 
*  Hooper Holmes Inc.  42,988  45 
*  Palatin Technologies Inc.  118,190  41 
*  MDRNA Inc.  47,925  39 
*  ReGeneRx Biopharmaceuticals Inc.  68,837  37 
*  Biotime Inc.  8,100  34 
*  Telik Inc.  43,574  33 
*,^  Cardium Therapeutics Inc.  48,632  33 
*  La Jolla Pharmaceutical Co.  196,408  33 
*  United American Healthcare Corp.  30,666  33 
*  ADVENTRX Pharmaceuticals Inc.  87,044  30 
*  Virtual Radiologic Corp.  2,300  29 
*  EnteroMedics Inc.  47,111  26 
  MedQuist Inc.  3,900  26 
*  Solta Medical Inc.  11,938  24 
*  AdvanSource Biomaterials Corp.  86,454  24 
*  Integramed America Inc.  2,921  23 
  American Medical Alert Corp.  2,895  19 
*  Threshold Pharmaceuticals Inc.  9,266  17 
*  IVAX Diagnostics Inc.  27,208  14 
*  IsoRay Inc.  14,520  13 
*  PositiveID Corp.  11,200  12 
*  Oculus Innovative Sciences Inc.  6,393  12 
*  CAS Medical Systems Inc.  5,100  11 
*  pSivida Corp.  2,800  10 
*  Cytomedix Inc.  21,700  9 
*  Raptor Pharmaceutical Corp.  4,644  8 
*  BSD Medical Corp.  5,000  8 
*  PharmAthene Inc.  3,200  6 
*  ULURU Inc.  28,716  6 
*  Strategic Diagnostics Inc.  4,323  6 
*  Ore Pharmaceutical Holdings Inc.  11,060  6 
*  Antares Pharma Inc.  4,200  5 
*  MediciNova Inc.  600  4 
*  Transcept Pharmaceuticals Inc.  500  3 
*  Allied Healthcare Products  184  1 
*  Vision-Sciences Inc.  500  1 
      1,588,871 
Industrials (14.9%)     
*  Delta Air Lines Inc.  4,685,455  53,320 
*  McDermott International Inc.  1,383,558  33,219 
  Joy Global Inc.  615,060  31,731 
  Manpower Inc.  471,650  25,743 
  Bucyrus International Inc. Class A  451,682  25,461 
  AMETEK Inc.  648,214  24,788 
*  URS Corp.  504,486  22,460 
  Oshkosh Corp.  537,800  19,915 
  Donaldson Co. Inc.  464,536  19,761 
*  Kansas City Southern  577,161  19,214 
  Pentair Inc.  591,120  19,093 
*  Aecom Technology Corp.  676,909  18,615 
  KBR Inc.  964,011  18,316 
*  AGCO Corp.  555,784  17,974 
*  Alliant Techsystems Inc.  197,958  17,474 
*  Corrections Corp. of America  694,273  17,044 
  JB Hunt Transport Services Inc.  527,307  17,016 
  Hubbell Inc. Class B  354,614  16,773 
  SPX Corp.  296,308  16,208 

29


Vanguard® Extended Market Index Fund
Schedule of Investments
December 31, 2009

      Market 
      Value 
    Shares  ($000) 
*  Waste Connections Inc.  476,099  15,873 
  Harsco Corp.  482,776  15,560 
*  AMR Corp.  1,997,760  15,443 
*  Owens Corning  599,371  15,368 
*  Verisk Analytics Inc. Class A  496,961  15,048 
  IDEX Corp.  482,719  15,037 
*  Continental Airlines Inc. Class B  832,269  14,914 
*  Copart Inc.  404,382  14,813 
*  FTI Consulting Inc.  311,480  14,689 
*  Navistar International Corp.  377,968  14,608 
*  Shaw Group Inc.  503,101  14,464 
*  BE Aerospace Inc.  607,789  14,283 
*  Covanta Holding Corp.  772,933  13,982 
  Lincoln Electric Holdings Inc.  255,674  13,668 
*  IHS Inc. Class A  243,440  13,343 
  Gardner Denver Inc.  313,044  13,320 
*  UAL Corp.  1,004,213  12,964 
*  Hertz Global Holdings Inc.  1,083,706  12,918 
*  Terex Corp.  649,842  12,873 
  Kennametal Inc.  489,384  12,685 
  Carlisle Cos. Inc.  368,344  12,619 
*  Spirit Aerosystems Holdings Inc. Class A  629,255  12,497 
  MSC Industrial Direct Co. Class A  264,357  12,425 
  Nordson Corp.  201,982  12,357 
  Towers Watson & Co. Class A  256,434  12,186 
  Landstar System Inc.  305,629  11,849 
  Wabtec Corp.  286,010  11,681 
  Regal-Beloit Corp.  221,472  11,503 
  Lennox International Inc.  292,827  11,432 
  Timken Co.  477,449  11,320 
*  Thomas & Betts Corp.  314,900  11,270 
*  Kirby Corp.  323,541  11,269 
*  GrafTech International Ltd.  723,783  11,255 
*,^  American Superconductor Corp.  266,058  10,882 
  TransDigm Group Inc.  226,800  10,771 
*  EMCOR Group Inc.  396,315  10,661 
  Con-way Inc.  295,872  10,329 
  Graco Inc.  360,600  10,302 
*  Tetra Tech Inc.  368,347  10,008 
  CLARCOR Inc.  303,309  9,839 
  Brady Corp. Class A  314,785  9,447 
  Watsco Inc.  192,613  9,434 
  Valmont Industries Inc.  120,098  9,422 
  Acuity Brands Inc.  260,265  9,276 
*  General Cable Corp.  312,551  9,195 
*,^  SunPower Corp. Class A  374,708  8,873 
  Woodward Governor Co.  341,123  8,791 
  Crane Co.  281,340  8,615 
  Toro Co.  205,874  8,608 
  Curtiss-Wright Corp.  274,259  8,590 
  Alexander & Baldwin Inc.  246,777  8,447 
*  Teledyne Technologies Inc.  216,695  8,312 
  Trinity Industries Inc.  476,582  8,312 
*  Clean Harbors Inc.  137,162  8,176 
*  United Stationers Inc.  143,684  8,168 
*  Genesee & Wyoming Inc. Class A  246,451  8,044 
*  Avis Budget Group Inc.  613,070  8,043 
  GATX Corp.  277,205  7,970 
*  Moog Inc. Class A  272,648  7,969 
  Manitowoc Co. Inc.  785,420  7,831 
*  MPS Group Inc.  560,300  7,699 
  Actuant Corp. Class A  407,850  7,557 
*  Hexcel Corp.  581,075  7,542 
  HNI Corp.  270,746  7,481 

30


Vanguard® Extended Market Index Fund
Schedule of Investments
December 31, 2009

      Market 
      Value 
    Shares  ($000) 
*  Alaska Air Group Inc.  212,032  7,328 
*  Esterline Technologies Corp.  178,913  7,294 
  Kaydon Corp.  199,827  7,146 
  Baldor Electric Co.  252,179  7,084 
  Brink's Co.  287,778  7,005 
*  JetBlue Airways Corp.  1,280,025  6,976 
*,^  USG Corp.  495,573  6,963 
*  WESCO International Inc.  254,142  6,864 
  Granite Construction Inc.  202,256  6,808 
  Knight Transportation Inc.  350,379  6,759 
*  Geo Group Inc.  308,841  6,757 
  Simpson Manufacturing Co. Inc.  231,205  6,217 
  Belden Inc.  280,544  6,150 
*  HUB Group Inc. Class A  227,824  6,113 
  AO Smith Corp.  136,930  5,941 
*  Resources Connection Inc.  273,141  5,796 
  ABM Industries Inc.  279,158  5,767 
  ESCO Technologies Inc.  159,017  5,701 
  Skywest Inc.  334,368  5,658 
  Briggs & Stratton Corp.  300,574  5,624 
  Mueller Industries Inc.  226,171  5,618 
  Healthcare Services Group Inc.  261,392  5,609 
*  EnerSys  252,288  5,518 
*  Middleby Corp.  111,560  5,469 
  Watts Water Technologies Inc. Class A  176,514  5,458 
*  SYKES Enterprises Inc.  211,496  5,387 
*  AAR Corp.  234,004  5,377 
  Herman Miller Inc.  336,087  5,371 
  Otter Tail Corp.  214,584  5,322 
*  Insituform Technologies Inc. Class A  233,748  5,311 
*  Orbital Sciences Corp.  341,702  5,214 
  Werner Enterprises Inc.  263,290  5,211 
*  Old Dominion Freight Line Inc.  168,360  5,169 
*  CoStar Group Inc.  123,738  5,169 
  HEICO Corp.  115,418  5,116 
  Rollins Inc.  259,810  5,009 
  Applied Industrial Technologies Inc.  223,983  4,943 
  Heartland Express Inc.  316,950  4,840 
  Triumph Group Inc.  100,257  4,837 
*  Armstrong World Industries Inc.  124,210  4,835 
  Mine Safety Appliances Co.  181,722  4,821 
  Mueller Water Products Inc. Class A  925,052  4,810 
*  II-VI Inc.  149,345  4,749 
*  US Airways Group Inc.  968,264  4,686 
  Corporate Executive Board Co.  205,311  4,685 
  Robbins & Myers Inc.  197,670  4,649 
  Deluxe Corp.  307,990  4,555 
*  Korn/Ferry International  275,070  4,539 
  Arkansas Best Corp.  152,654  4,493 
*  Navigant Consulting Inc.  299,397  4,449 
  Forward Air Corp.  174,521  4,372 
*  SunPower Corp. Class B  208,266  4,363 
*  Beacon Roofing Supply Inc.  272,145  4,354 
*,^  Allegiant Travel Co. Class A  91,384  4,311 
  Barnes Group Inc.  254,621  4,303 
*  Dollar Thrifty Automotive Group Inc.  166,264  4,258 
*  AirTran Holdings Inc.  808,938  4,223 
  Universal Forest Products Inc.  113,594  4,181 
  American Science & Engineering Inc.  53,504  4,058 
  Franklin Electric Co. Inc.  139,143  4,046 
*  MasTec Inc.  319,277  3,991 
*  TrueBlue Inc.  263,707  3,905 
  Quanex Building Products Corp.  226,685  3,847 
  EnergySolutions Inc.  446,530  3,791 

31


Vanguard® Extended Market Index Fund
Schedule of Investments
December 31, 2009

      Market 
      Value 
    Shares  ($000) 
*,^  A123 Systems Inc.  166,418  3,734 
*,^  Genco Shipping & Trading Ltd.  166,563  3,728 
  Albany International Corp.  165,234  3,711 
  Badger Meter Inc.  89,954  3,582 
  Kaman Corp.  154,801  3,574 
*  United Rentals Inc.  363,072  3,562 
  Ameron International Corp.  55,641  3,531 
  Cubic Corp.  93,577  3,490 
*  Orion Marine Group Inc.  161,025  3,391 
*  Interline Brands Inc.  195,839  3,382 
*  Layne Christensen Co.  117,082  3,361 
*  Griffon Corp.  266,001  3,251 
*  Macquarie Infrastructure Co. LLC  263,404  3,235 
*  Astec Industries Inc.  119,733  3,226 
  McGrath Rentcorp  143,715  3,213 
  Heidrick & Struggles International Inc.  102,767  3,210 
*  EnPro Industries Inc.  121,312  3,204 
*  GeoEye Inc.  114,751  3,199 
*  RBC Bearings Inc.  130,978  3,187 
  Administaff Inc.  134,093  3,163 
*  Atlas Air Worldwide Holdings Inc.  83,528  3,111 
  Raven Industries Inc.  97,111  3,085 
*  M&F Worldwide Corp.  77,420  3,058 
*  Mobile Mini Inc.  213,950  3,015 
  Lindsay Corp.  74,706  2,977 
*  Ceradyne Inc.  154,921  2,976 
*  Huron Consulting Group Inc.  129,147  2,976 
  Tennant Co.  113,038  2,960 
*  Cenveo Inc.  336,988  2,949 
  Knoll Inc.  284,036  2,934 
*,^  Energy Conversion Devices Inc.  276,842  2,926 
  Steelcase Inc. Class A  455,778  2,899 
*  Advisory Board Co.  93,823  2,877 
*  ATC Technology Corp.  120,246  2,868 
  Gibraltar Industries Inc.  181,697  2,858 
  Comfort Systems USA Inc.  230,036  2,839 
*  Chart Industries Inc.  171,509  2,838 
  John Bean Technologies Corp.  166,594  2,834 
  Interface Inc. Class A  339,995  2,825 
*  DigitalGlobe Inc.  116,316  2,815 
*  Tutor Perini Corp.  155,586  2,813 
  G&K Services Inc. Class A  111,892  2,812 
*,^  Power-One Inc.  627,916  2,731 
  Seaboard Corp.  2,021  2,726 
*  Stanley Inc.  97,072  2,661 
*  Aerovironment Inc.  89,701  2,608 
  Ennis Inc.  155,269  2,607 
  CIRCOR International Inc.  102,443  2,580 
*  EnerNOC Inc.  83,364  2,533 
  Viad Corp.  122,367  2,524 
*  AZZ Inc.  74,495  2,436 
*  Kforce Inc.  194,122  2,427 
  Gorman-Rupp Co.  87,226  2,411 
  Encore Wire Corp.  114,264  2,408 
*  Exponent Inc.  85,759  2,388 
*  Blount International Inc.  231,688  2,340 
*  School Specialty Inc.  99,792  2,334 
  Apogee Enterprises Inc.  166,615  2,333 
*  Consolidated Graphics Inc.  66,307  2,322 
*  Rush Enterprises Inc. Class A  192,684  2,291 
*  GenCorp Inc.  318,987  2,233 
*  CBIZ Inc.  288,908  2,225 
*  Colfax Corp.  180,962  2,179 
*  Amerco Inc.  43,747  2,175 

32


Vanguard® Extended Market Index Fund
Schedule of Investments
December 31, 2009

      Market 
      Value 
    Shares  ($000) 
*  Force Protection Inc.  416,695  2,171 
*  MYR Group Inc.  118,634  2,145 
*  Team Inc.  113,348  2,132 
*  ACCO Brands Corp.  287,860  2,096 
*  DynCorp International Inc. Class A  145,694  2,091 
  Sun Hydraulics Corp.  77,992  2,047 
*  Kelly Services Inc. Class A  171,165  2,042 
*  Michael Baker Corp.  48,348  2,002 
*  Hawaiian Holdings Inc.  284,901  1,994 
  Ampco-Pittsburgh Corp.  62,555  1,972 
*  UQM Technologies Inc.  277,918  1,904 
*  LB Foster Co. Class A  63,658  1,898 
  Tredegar Corp.  119,520  1,891 
*  Dycom Industries Inc.  234,640  1,884 
*  Altra Holdings Inc.  148,813  1,838 
  Federal Signal Corp.  303,756  1,829 
*  Spherion Corp.  323,801  1,820 
*  Argon ST Inc.  82,545  1,793 
*  Taser International Inc.  408,304  1,788 
*  CRA International Inc.  66,807  1,780 
  American Ecology Corp.  104,378  1,779 
  Titan International Inc.  216,578  1,756 
*  Marten Transport Ltd.  95,070  1,707 
*  On Assignment Inc.  234,696  1,678 
  Cascade Corp.  60,904  1,674 
*,^  Evergreen Solar Inc.  1,104,363  1,668 
  Dynamic Materials Corp.  83,081  1,666 
  NACCO Industries Inc. Class A  33,443  1,665 
  AAON Inc.  84,692  1,651 
*  Trex Co. Inc.  83,580  1,638 
  Great Lakes Dredge & Dock Corp.  251,286  1,628 
*  APAC Customer Services Inc.  272,912  1,627 
  Kimball International Inc. Class B  190,282  1,621 
*  Powell Industries Inc.  51,417  1,621 
*  Columbus McKinnon Corp.  118,546  1,619 
  Applied Signal Technology Inc.  83,494  1,611 
*,^  Broadwind Energy Inc.  198,152  1,603 
*  American Reprographics Co.  226,631  1,589 
*  Vicor Corp.  170,803  1,588 
  American Woodmark Corp.  80,564  1,585 
  FreightCar America Inc.  79,927  1,585 
  Standex International Corp.  77,687  1,561 
*  Kadant Inc.  97,393  1,554 
*  Cornell Cos. Inc.  68,163  1,547 
*  Northwest Pipe Co.  57,576  1,546 
*  FuelCell Energy Inc.  409,723  1,541 
  Diamond Management & Technology Consultants Inc. Class A  208,260  1,535 
*  Republic Airways Holdings Inc.  207,611  1,534 
  HEICO Corp. Class A  41,440  1,490 
*  Ener1 Inc.  231,810  1,470 
*,^  Microvision Inc.  463,118  1,468 
*  Satcon Technology Corp.  509,611  1,437 
*  Herley Industries Inc.  103,233  1,434 
*,^  Eagle Bulk Shipping Inc.  287,912  1,425 
  Houston Wire & Cable Co.  118,693  1,412 
  Bowne & Co. Inc.  208,617  1,394 
  Graham Corp.  66,900  1,385 
*  Sterling Construction Co. Inc.  72,094  1,383 
*  American Commercial Lines Inc.  75,209  1,379 
*  H&E Equipment Services Inc.  130,309  1,367 
  Insteel Industries Inc.  102,678  1,335 
  Horizon Lines Inc. Class A  237,865  1,325 
*  3D Systems Corp.  116,628  1,318 
*  Polypore International Inc.  109,058  1,298 

33


Vanguard® Extended Market Index Fund
Schedule of Investments
December 31, 2009

      Market 
      Value 
    Shares  ($000) 
*  K-Tron International Inc.  11,651  1,267 
  International Shipholding Corp.  40,063  1,245 
*,^  Capstone Turbine Corp.  961,889  1,241 
*  Ladish Co. Inc.  81,811  1,234 
*  Celadon Group Inc.  113,233  1,229 
*  RailAmerica Inc.  100,200  1,222 
*  Pinnacle Airlines Corp.  176,047  1,211 
  CDI Corp.  92,501  1,198 
*  Innerworkings Inc.  201,648  1,190 
*  PRG-Schultz International Inc.  196,309  1,160 
*  Volt Information Sciences Inc.  111,279  1,113 
*  ICF International Inc.  41,209  1,104 
*  Standard Parking Corp.  68,624  1,090 
*  PMFG Inc.  65,684  1,065 
*,^  Advanced Battery Technologies Inc.  266,123  1,064 
*  Pike Electric Corp.  111,921  1,039 
*  Tecumseh Products Co. Class A  88,667  1,037 
  Ducommun Inc.  54,304  1,016 
*  Dynamex Inc.  56,040  1,014 
*  RSC Holdings Inc.  142,349  1,002 
  TAL International Group Inc.  75,301  996 
*  USA Truck Inc.  78,542  983 
*,^  GT Solar International Inc.  176,115  979 
*  Willis Lease Finance Corp.  64,420  966 
  Schawk Inc. Class A  70,966  965 
*,^  Energy Recovery Inc.  139,186  958 
  Greenbrier Cos. Inc.  92,209  957 
*  Furmanite Corp.  247,435  943 
  Sauer-Danfoss Inc.  78,192  939 
*  LMI Aerospace Inc.  70,014  931 
  Met-Pro Corp.  86,326  917 
*  Saia Inc.  60,106  891 
  Aceto Corp.  171,334  882 
*  Air Transport Services Group Inc.  328,135  866 
  Universal Truckload Services Inc.  47,823  866 
*,^  Ocean Power Technologies Inc.  93,376  841 
  LSI Industries Inc.  104,169  821 
*  Flow International Corp.  264,046  813 
*  Miller Industries Inc.  68,310  775 
*  COMSYS IT Partners Inc.  85,870  763 
*  Fuel Tech Inc.  92,971  760 
*  United Capital Corp.  31,463  749 
*  Lydall Inc.  140,977  734 
  Pacer International Inc.  230,019  727 
*  PAM Transportation Services Inc.  69,637  719 
*  BTU International Inc.  111,167  706 
  VSE Corp.  15,468  697 
*  AT Cross Co. Class A  132,813  695 
  Virco Manufacturing  183,978  672 
*  Metalico Inc.  136,183  670 
  Standard Register Co.  130,545  666 
*  NN Inc.  163,419  647 
*  Franklin Covey Co.  101,383  639 
*  Commercial Vehicle Group Inc.  106,409  637 
*  Hill International Inc.  100,615  628 
*  Casella Waste Systems Inc. Class A  153,640  618 
*  Perma-Fix Environmental Services  268,920  610 
  American Railcar Industries Inc.  54,745  603 
*  ICT Group Inc.  36,852  602 
  SIFCO Industries Inc.  42,014  600 
*  GP Strategies Corp.  78,560  592 
  Todd Shipyards Corp.  34,898  585 
  Preformed Line Products Co.  13,333  584 
*  Patriot Transportation Holding Inc.  6,178  584 

34


Vanguard® Extended Market Index Fund
Schedule of Investments
December 31, 2009

      Market 
      Value 
    Shares  ($000) 
*  Hudson Highland Group Inc.  122,933  583 
  Multi-Color Corp.  47,296  577 
*  DXP Enterprises Inc.  43,402  567 
*  Park-Ohio Holdings Corp.  99,625  563 
*  Ceco Environmental Corp.  142,337  562 
*  Trimas Corp.  82,214  557 
*  Magnetek Inc.  358,753  552 
*  Flanders Corp.  123,093  549 
*  NCI Building Systems Inc.  299,950  543 
*  PowerSecure International Inc.  74,700  539 
  Courier Corp.  37,714  537 
*  Odyssey Marine Exploration Inc.  380,758  537 
*  Astronics Corp.  62,613  535 
*  Integrated Electrical Services Inc.  91,324  534 
*  Mistras Group Inc.  35,441  534 
*  LaBarge Inc.  43,841  528 
*  CPI Aerostructures Inc.  86,865  522 
*  Kratos Defense & Security Solutions Inc.  47,248  498 
*  Hurco Cos. Inc.  32,771  485 
*  Innovative Solutions & Support Inc.  103,249  474 
*  Allied Defense Group Inc.  98,735  469 
*  Argan Inc.  31,473  453 
*  Titan Machinery Inc.  39,130  452 
  Barrett Business Services Inc.  36,700  451 
  Lawson Products Inc.  25,541  451 
  Twin Disc Inc.  43,057  450 
*,^  Valence Technology Inc.  484,314  441 
*  Key Technology Inc.  37,386  436 
*  CAI International Inc.  48,250  436 
*,^  C&D Technologies Inc.  270,745  420 
  Ecology and Environment Inc.  27,806  417 
  Alamo Group Inc.  23,467  402 
*  LECG Corp.  131,205  392 
*  Plug Power Inc.  532,509  378 
  Hardinge Inc.  67,663  372 
*  Quixote Corp.  57,911  369 
*  Intersections Inc.  73,428  360 
*,^  Coleman Cable Inc.  107,172  353 
*,^  Beacon Power Corp.  700,639  347 
*  Wabash National Corp.  182,235  344 
*,^  Builders FirstSource Inc.  86,718  334 
*  Spherix Inc.  287,088  327 
  LS Starrett Co. Class A  36,454  321 
*  Ultralife Corp.  72,098  311 
*  BlueLinx Holdings Inc.  112,164  311 
*  WCA Waste Corp.  70,553  304 
*,^  YRC Worldwide Inc.  357,212  300 
*  Hudson Technologies Inc.  204,150  298 
  Eastern Co.  21,787  293 
*  Active Power Inc.  265,045  292 
  Omega Flex Inc.  20,708  290 
*  Gencor Industries Inc.  36,591  272 
*  Baldwin Technology Co.  206,023  268 
*  Mfri Inc.  38,671  263 
*,^  Hoku Scientific Inc.  95,249  259 
*,^  Spire Corp.  48,102  258 
*  Peco II Inc.  50,920  247 
*,^  Akeena Solar Inc.  194,869  244 
*  Supreme Industries Inc. Class A  120,885  239 
*  US Home Systems Inc.  88,763  225 
*  Quality Distribution Inc.  56,369  223 
*  Orion Energy Systems Inc.  50,141  220 
  Providence and Worcester Railroad Co.  19,600  211 
*  Comforce Corp.  171,123  205 

35


Vanguard® Extended Market Index Fund
Schedule of Investments
December 31, 2009

      Market 
      Value 
    Shares  ($000) 
*  Allied Motion Technologies Inc.  81,197  204 
*,^  Arotech Corp.  113,758  191 
*  TRC Cos. Inc.  59,427  178 
*  Amrep Corp.  12,689  174 
*  Competitive Technologies Inc.  86,422  163 
*  Xerium Technologies Inc.  209,235  159 
  Superior Uniform Group Inc.  15,754  154 
*  Thermadyne Holdings Corp.  20,084  146 
*  Tecumseh Products Co. Class B  11,900  132 
  Chase Corp.  11,148  132 
*,^  Ascent Solar Technologies Inc.  23,117  123 
  Frozen Food Express Industries  36,816  121 
*  Innotrac Corp.  74,579  121 
*  Covenant Transportation Group Inc. Class A  28,276  119 
*,^  Document Security Systems Inc.  46,811  115 
*  North American Galvanizing & Coating Inc.  22,100  107 
*  Protection One Inc.  15,921  103 
*  Applied Energetics Inc.  302,745  100 
*  Energy Focus Inc.  152,346  98 
*  American Electric Technologies Inc.  36,928  83 
*,^  DayStar Technologies Inc.  202,967  83 
  Sypris Solutions Inc.  28,660  81 
*  UTEK Corp.  18,697  79 
*  Rush Enterprises Inc. Class B  5,550  58 
*  PGT Inc.  25,701  54 
*  LGL Group Inc.  16,300  54 
*,^  Builders FirstSource Inc. Rights Exp. 1/14/10  139,715  34 
  Hubbell Inc. Class A  500  23 
*  TeamStaff Inc.  17,157  14 
*  ExpressJet Holdings Inc.  2,092  10 
*  Mesa Air Group Inc.  36,067  4 
*  Heritage-Crystal Clean Inc.  100  1 
*  BMC Industries Inc.  126,104  — 
*  Kaiser Ventures LLC Class A  36,800  — 
      1,865,092 
Information Technology (15.8%)     
*  Activision Blizzard Inc.  3,354,240  37,266 
  Maxim Integrated Products Inc.  1,834,726  37,245 
*  Cree Inc.  622,909  35,113 
*  Lam Research Corp.  764,988  29,995 
*  Avnet Inc.  909,333  27,426 
  Global Payments Inc.  487,118  26,236 
*  F5 Networks Inc.  476,497  25,245 
*  Equinix Inc.  234,203  24,861 
  Lender Processing Services Inc.  576,008  23,421 
*  ANSYS Inc.  533,202  23,173 
*  ON Semiconductor Corp.  2,555,812  22,517 
*  Nuance Communications Inc.  1,372,355  21,326 
*  Arrow Electronics Inc.  719,999  21,319 
*  Sybase Inc.  490,083  21,270 
*  Hewitt Associates Inc. Class A  500,214  21,139 
*  Alliance Data Systems Corp.  314,283  20,300 
*  Rovi Corp.  619,460  19,742 
*  Synopsys Inc.  876,066  19,519 
*  Brocade Communications Systems Inc.  2,517,322  19,207 
  Broadridge Financial Solutions Inc.  828,016  18,680 
*  Trimble Navigation Ltd.  723,638  18,236 
*  3Com Corp.  2,357,371  17,680 
*  Ingram Micro Inc.  983,580  17,163 
  Factset Research Systems Inc.  253,152  16,675 
*  VMware Inc. Class A  386,275  16,370 
*  Itron Inc.  241,226  16,300 
*  Varian Semiconductor Equipment Associates Inc.  442,352  15,872 
*  Rambus Inc.  633,691  15,462 

36


Vanguard® Extended Market Index Fund
Schedule of Investments
December 31, 2009

      Market 
      Value 
    Shares  ($000) 
*  AOL Inc.  647,859  15,082 
  Solera Holdings Inc.  418,627  15,075 
*  Dolby Laboratories Inc. Class A  315,266  15,048 
*  CommScope Inc.  563,826  14,958 
*  Skyworks Solutions Inc.  1,048,158  14,873 
*  MICROS Systems Inc.  479,050  14,865 
*  Tech Data Corp.  305,951  14,276 
*  Informatica Corp.  537,719  13,905 
*  Atheros Communications Inc.  400,350  13,708 
*  Silicon Laboratories Inc.  274,561  13,272 
*  Polycom Inc.  507,370  12,669 
*  Atmel Corp.  2,727,251  12,573 
*  IAC/InterActiveCorp  579,213  11,862 
*  PMC - Sierra Inc.  1,367,461  11,842 
  Jack Henry & Associates Inc.  509,173  11,772 
*  Parametric Technology Corp.  708,697  11,580 
  Diebold Inc.  398,672  11,342 
  Intersil Corp. Class A  737,520  11,314 
*,^  WebMD Health Corp.  287,506  11,066 
*  Concur Technologies Inc.  256,484  10,965 
*  NCR Corp.  957,086  10,652 
*  NeuStar Inc. Class A  447,107  10,301 
*  DST Systems Inc.  236,147  10,284 
*  TIBCO Software Inc.  1,043,885  10,053 
  National Instruments Corp.  341,093  10,045 
*  Zebra Technologies Corp.  354,125  10,043 
*,^  Palm Inc.  993,822  9,978 
*  Cypress Semiconductor Corp.  936,202  9,886 
*  Unisys Corp.  254,202  9,802 
*  Cadence Design Systems Inc.  1,615,668  9,678 
*  International Rectifier Corp.  428,472  9,478 
*  Vishay Intertechnology Inc.  1,121,481  9,364 
*  Blackboard Inc.  195,709  8,883 
*  CACI International Inc. Class A  180,897  8,837 
*  Microsemi Corp.  492,429  8,741 
*  Arris Group Inc.  753,694  8,615 
*  Cybersource Corp.  420,778  8,462 
*  Rackspace Hosting Inc.  405,078  8,446 
*  Anixter International Inc.  176,996  8,337 
*  Convergys Corp.  746,117  8,021 
*  RF Micro Devices Inc.  1,612,083  7,690 
  Plantronics Inc.  295,394  7,674 
*  Veeco Instruments Inc.  231,630  7,653 
*  Riverbed Technology Inc.  332,890  7,647 
  ADTRAN Inc.  336,242  7,582 
*  Fairchild Semiconductor International Inc. Class A  744,959  7,442 
*  Benchmark Electronics Inc.  388,538  7,347 
*  Wright Express Corp.  229,255  7,304 
*  VeriFone Holdings Inc.  436,872  7,156 
*  Progress Software Corp.  241,526  7,055 
*  Tessera Technologies Inc.  299,548  6,971 
*  Blue Coat Systems Inc.  244,014  6,964 
*  Quest Software Inc.  375,008  6,900 
*  InterDigital Inc.  258,856  6,870 
*  Gartner Inc.  379,230  6,841 
*  Cymer Inc.  177,672  6,819 
*  Plexus Corp.  237,842  6,779 
*  Ariba Inc.  539,319  6,752 
*  Euronet Worldwide Inc.  305,292  6,701 
*  TiVo Inc.  651,982  6,637 
*  FormFactor Inc.  299,212  6,511 
*  Mantech International Corp. Class A  133,812  6,460 
*  Integrated Device Technology Inc.  998,113  6,458 
*  Netlogic Microsystems Inc.  138,714  6,417 

37


Vanguard® Extended Market Index Fund
Schedule of Investments
December 31, 2009

      Market 
      Value 
    Shares  ($000) 
*  Acxiom Corp.  475,250  6,378 
*  Semtech Corp.  370,679  6,305 
  Blackbaud Inc.  265,533  6,275 
*  Digital River Inc.  232,301  6,270 
*,^  Synaptics Inc.  204,504  6,268 
  Fair Isaac Corp.  292,528  6,234 
*  Tekelec  404,812  6,186 
*  Ciena Corp.  555,385  6,020 
*  CommVault Systems Inc.  253,269  6,000 
*  Comtech Telecommunications Corp.  169,837  5,953 
  Power Integrations Inc.  162,517  5,909 
*  Sapient Corp.  693,992  5,739 
*  Amkor Technology Inc.  781,692  5,597 
*  j2 Global Communications Inc.  271,555  5,526 
*  TriQuint Semiconductor Inc.  914,640  5,488 
*  Taleo Corp. Class A  230,675  5,425 
*  Viasat Inc.  168,781  5,364 
  Earthlink Inc.  643,367  5,346 
  MAXIMUS Inc.  106,178  5,309 
*  Emulex Corp.  486,672  5,305 
*  FEI Co.  226,624  5,294 
*  ValueClick Inc.  520,355  5,266 
*  Cavium Networks Inc.  220,511  5,255 
*  Hittite Microwave Corp.  128,615  5,241 
*  Sanmina-SCI Corp.  474,028  5,229 
*  Mentor Graphics Corp.  591,055  5,219 
*  MicroStrategy Inc. Class A  55,236  5,193 
*  MKS Instruments Inc.  297,624  5,182 
*  Lawson Software Inc.  768,068  5,108 
*  Monolithic Power Systems Inc.  209,913  5,032 
*  SRA International Inc. Class A  259,054  4,948 
*,^  Take-Two Interactive Software Inc.  488,995  4,914 
*  Cabot Microelectronics Corp.  141,189  4,654 
*  JDA Software Group Inc.  182,618  4,651 
*  GSI Commerce Inc.  182,856  4,643 
*  EchoStar Corp. Class A  230,424  4,641 
*  Websense Inc.  264,779  4,623 
*  SolarWinds Inc.  199,607  4,593 
*  DealerTrack Holdings Inc.  243,016  4,566 
*  Infinera Corp.  511,201  4,534 
*  Netgear Inc.  208,209  4,516 
*  Omnivision Technologies Inc.  305,277  4,436 
*  Ultimate Software Group Inc.  148,577  4,364 
*  Diodes Inc.  209,416  4,283 
*  Scansource Inc.  160,142  4,276 
  Cognex Corp.  238,585  4,228 
*  Littelfuse Inc.  130,972  4,211 
*  Entegris Inc.  781,498  4,126 
*  Rofin-Sinar Technologies Inc.  174,448  4,119 
*  CSG Systems International Inc.  212,198  4,051 
*  TNS Inc.  154,662  3,973 
*  Coherent Inc.  131,444  3,908 
*  TeleTech Holdings Inc.  194,907  3,904 
*  Aruba Networks Inc.  361,588  3,855 
*  Intermec Inc.  299,454  3,851 
*,^  Advent Software Inc.  94,234  3,838 
*  SYNNEX Corp.  124,064  3,804 
*  SuccessFactors Inc.  227,995  3,780 
  AVX Corp.  297,063  3,764 
*  Harmonic Inc.  579,361  3,667 
  United Online Inc.  508,689  3,657 
*  ADC Telecommunications Inc.  582,837  3,619 
*  DTS Inc.  105,455  3,608 
*  Checkpoint Systems Inc.  234,992  3,584 

38


Vanguard® Extended Market Index Fund
Schedule of Investments
December 31, 2009

      Market 
      Value 
    Shares  ($000) 
*  Quantum Corp.  1,212,782  3,553 
*  ACI Worldwide Inc.  205,623  3,526 
*  ATMI Inc.  189,052  3,520 
*  DG FastChannel Inc.  125,001  3,491 
*  Sonus Networks Inc.  1,651,729  3,485 
*  Art Technology Group Inc.  768,150  3,464 
*  Zoran Corp.  313,497  3,464 
  Park Electrochemical Corp.  124,033  3,428 
*  L-1 Identity Solutions Inc.  455,461  3,411 
*  Brooks Automation Inc.  388,964  3,337 
*  Tyler Technologies Inc.  167,393  3,333 
*  Manhattan Associates Inc.  135,982  3,268 
*,^  STEC Inc.  193,444  3,161 
*  Insight Enterprises Inc.  276,396  3,156 
  Pegasystems Inc.  92,654  3,150 
*  SAVVIS Inc.  223,072  3,134 
*  Compellent Technologies Inc.  136,473  3,095 
*  Brightpoint Inc.  412,344  3,031 
*  Advanced Energy Industries Inc.  200,693  3,026 
*  Netscout Systems Inc.  205,845  3,014 
*  TTM Technologies Inc.  261,164  3,011 
  Black Box Corp.  106,178  3,009 
*  Applied Micro Circuits Corp.  400,644  2,993 
*,^  Ebix Inc.  60,951  2,976 
  Heartland Payment Systems Inc.  226,022  2,968 
  Syntel Inc.  77,640  2,953 
*  Finisar Corp.  329,052  2,935 
*  Cogent Inc.  281,256  2,922 
*  Volterra Semiconductor Corp.  152,186  2,910 
*  Netezza Corp.  299,596  2,906 
  MTS Systems Corp.  100,675  2,893 
*  Rogers Corp.  94,856  2,875 
  NIC Inc.  308,103  2,816 
*  Electronics for Imaging Inc.  216,189  2,813 
*  Standard Microsystems Corp.  133,739  2,779 
*  EPIQ Systems Inc.  196,201  2,745 
*  Sourcefire Inc.  101,963  2,728 
*  Switch & Data Facilities Co. Inc.  133,293  2,694 
*  Maxwell Technologies Inc.  150,844  2,691 
*  Cirrus Logic Inc.  392,744  2,679 
*  Bottomline Technologies Inc.  151,638  2,664 
*  OSI Systems Inc.  96,225  2,625 
*  ModusLink Global Solutions Inc.  276,354  2,601 
*  Terremark Worldwide Inc.  376,920  2,578 
*  comScore Inc.  145,786  2,559 
*  Epicor Software Corp.  335,747  2,558 
*  Ixia  342,699  2,550 
*  Stratasys Inc.  147,032  2,541 
*  SonicWALL Inc.  326,365  2,484 
*  Harris Stratex Networks Inc.  357,687  2,472 
*  RightNow Technologies Inc.  140,389  2,439 
*  Adaptec Inc.  725,501  2,430 
*  Sycamore Networks Inc.  115,573  2,417 
*  Echelon Corp.  208,704  2,413 
*  Supertex Inc.  80,381  2,395 
  CTS Corp.  247,296  2,379 
  Micrel Inc.  286,156  2,346 
*  TeleCommunication Systems Inc. Class A  241,117  2,334 
*  Forrester Research Inc.  89,784  2,330 
*  Universal Display Corp.  186,232  2,302 
*  Lattice Semiconductor Corp.  833,472  2,250 
*  Kulicke & Soffa Industries Inc.  416,490  2,245 
*  FARO Technologies Inc.  103,821  2,226 
*  Avid Technology Inc.  171,483  2,188 

39


Vanguard® Extended Market Index Fund
Schedule of Investments
December 31, 2009

    Market 
    Value 
  Shares  ($000) 
* Ultratech Inc.  146,917  2,183 
* Radiant Systems Inc.  208,365  2,167 
* Vocus Inc.  119,528  2,152 
Daktronics Inc.  228,131  2,101 
* Multi-Fineline Electronix Inc.  73,206  2,077 
* 3PAR Inc.  172,881  2,049 
* THQ Inc.  403,804  2,035 
* ExlService Holdings Inc.  111,973  2,033 
* Newport Corp.  220,154  2,023 
Methode Electronics Inc.  232,215  2,016 
* RealNetworks Inc.  540,824  2,006 
* Global Cash Access Holdings Inc.  267,650  2,005 
* Oplink Communications Inc.  121,012  1,983 
* Utstarcom Inc.  904,020  1,980 
* Electro Scientific Industries Inc.  182,441  1,974 
* Synchronoss Technologies Inc.  124,371  1,966 
Cohu Inc.  140,441  1,959 
* Actel Corp.  159,210  1,891 
* Exar Corp.  265,770  1,890 
* Constant Contact Inc.  117,966  1,887 
* i2 Technologies Inc.  98,715  1,887 
* Infospace Inc.  218,616  1,874 
* S1 Corp.  285,051  1,859 
iGate Corp.  184,493  1,845 
* IPG Photonics Corp.  110,088  1,843 
* Kenexa Corp.  140,812  1,838 
* LivePerson Inc.  261,179  1,820 
* Pericom Semiconductor Corp.  157,182  1,812 
* ArcSight Inc.  70,524  1,804 
* Knot Inc.  176,986  1,782 
* Sigma Designs Inc.  166,436  1,781 
* Intevac Inc.  151,404  1,737 
* Kopin Corp.  412,991  1,726 
* Mercury Computer Systems Inc.  156,594  1,724 
* Anaren Inc.  114,135  1,718 
* Extreme Networks  588,578  1,689 
* Sonic Solutions Inc.  138,918  1,643 
* Interactive Intelligence Inc.  88,482  1,632 
* Loral Space & Communications Inc.  51,494  1,628 
* Imation Corp.  185,852  1,621 
* Move Inc.  933,274  1,549 
* Hutchinson Technology Inc.  150,777  1,547 
* Perficient Inc.  182,778  1,541 
* Novatel Wireless Inc.  192,931  1,538 
* Silicon Storage Technology Inc.  598,834  1,533 
* Symyx Technologies Inc.  276,392  1,520 
Agilysys Inc.  166,925  1,519 
* LoopNet Inc.  152,543  1,516 
* Anadigics Inc.  352,821  1,489 
* infoGROUP Inc.  183,485  1,472 
* Mattson Technology Inc.  410,136  1,468 
Opnet Technologies Inc.  118,172  1,441 
* Acme Packet Inc.  130,273  1,433 
* Silicon Image Inc.  553,745  1,429 
* Super Micro Computer Inc.  125,963  1,401 
* Internet Capital Group Inc.  210,450  1,400 
* EMS Technologies Inc.  94,850  1,375 
* NVE Corp.  32,988  1,363 
* IXYS Corp.  183,481  1,361 
* KVH Industries Inc.  92,040  1,358 
* Smith Micro Software Inc.  148,224  1,355 
* Internap Network Services Corp.  287,701  1,352 
* Photronics Inc.  301,607  1,342 
* DivX Inc.  237,378  1,339 

40


Vanguard® Extended Market Index Fund
Schedule of Investments
December 31, 2009

      Market 
      Value 
    Shares  ($000) 
*  Comverge Inc.  118,919  1,337 
*  Ciber Inc.  386,223  1,332 
*  MIPS Technologies Inc. Class A  295,881  1,293 
  Keynote Systems Inc.  117,526  1,282 
*  SMART Modular Technologies WWH Inc.  199,971  1,258 
*  Integral Systems Inc.  141,336  1,224 
*  Digi International Inc.  134,084  1,223 
*  Seachange International Inc.  185,744  1,220 
*  Lionbridge Technologies Inc.  524,885  1,207 
  Cass Information Systems Inc.  39,545  1,202 
*  Rudolph Technologies Inc.  177,834  1,195 
*  Radisys Corp.  124,230  1,186 
*  Computer Task Group Inc.  144,944  1,161 
*  MoSys Inc.  292,683  1,147 
*  FalconStor Software Inc.  277,910  1,128 
*  Cray Inc.  174,128  1,118 
*  Symmetricom Inc.  213,955  1,113 
*  Oclaro Inc.  754,673  1,109 
*  Actuate Corp.  258,284  1,105 
*  Entropic Communications Inc.  356,735  1,095 
*  LTX-Credence Corp.  614,849  1,094 
*  Innodata Isogen Inc.  196,497  1,089 
  Electro Rent Corp.  94,277  1,088 
*,^  Rubicon Technology Inc.  53,175  1,080 
*  Globecomm Systems Inc.  137,838  1,078 
*  AXT Inc.  324,591  1,055 
*,^  NetSuite Inc.  65,654  1,049 
*  VASCO Data Security International Inc.  165,936  1,040 
  Technitrol Inc.  236,412  1,036 
*  Silicon Graphics International Corp.  146,946  1,030 
*  Internet Brands Inc. Class A  130,204  1,020 
*  support.com Inc.  385,639  1,018 
*  MoneyGram International Inc.  353,257  1,017 
  Marchex Inc. Class B  199,981  1,016 
*  Nanometrics Inc.  89,230  1,011 
*  Saba Software Inc.  243,408  1,008 
*  Limelight Networks Inc.  254,633  1,001 
*  DSP Group Inc.  175,985  991 
*  Integrated Silicon Solution Inc.  174,838  988 
*  Hughes Communications Inc.  37,670  981 
*  Local.com Corp.  167,717  974 
*  PROS Holdings Inc.  92,968  962 
  Bel Fuse Inc. Class B  44,557  958 
*  Transact Technologies Inc.  133,901  929 
  Renaissance Learning Inc.  81,456  925 
*  DemandTec Inc.  104,319  915 
*  Network Equipment Technologies Inc.  224,220  908 
*  NU Horizons Electronics Corp.  218,895  902 
*  Openwave Systems Inc.  394,611  900 
*  NCI Inc. Class A  32,520  899 
*  Bitstream Inc. Class A  114,428  867 
*  Ultra Clean Holdings  123,697  865 
*  Dynamics Research Corp.  81,179  861 
*  Amtech Systems Inc.  77,721  857 
*  Hypercom Corp.  269,962  856 
*  Telular Corp.  227,439  853 
*  Hackett Group Inc.  302,746  842 
  QAD Inc.  136,292  833 
*  Double-Take Software Inc.  83,311  832 
*  Rimage Corp.  47,954  832 
*  Spectrum Control Inc.  87,445  828 
*,^  Zix Corp.  483,117  826 
  American Software Inc. Class A  137,441  825 
*  Pervasive Software Inc.  170,783  823 

41


Vanguard® Extended Market Index Fund
Schedule of Investments
December 31, 2009

      Market 
      Value 
    Shares  ($000) 
*  Mindspeed Technologies Inc.  171,865  806 
*  Trident Microsystems Inc.  424,075  789 
*  Orbcomm Inc.  285,314  770 
*,^  Research Frontiers Inc.  202,952  769 
  Communications Systems Inc.  61,604  766 
*  StarTek Inc.  102,098  764 
*  GSE Systems Inc.  139,311  763 
*  LaserCard Corp.  131,236  757 
*  PLATO Learning Inc.  171,271  747 
*  Data I/O Corp.  167,176  746 
*  Measurement Specialties Inc.  74,018  744 
*  Techwell Inc.  55,700  735 
*  Peerless Systems Corp.  277,414  732 
*  Gerber Scientific Inc.  144,311  729 
*  ActivIdentity Corp.  309,436  727 
*  Microtune Inc.  321,372  726 
*  Zygo Corp.  107,878  726 
*  Conexant Systems Inc.  311,348  722 
*  Occam Networks Inc.  133,187  719 
*  Zilog Inc.  202,394  716 
*  Immersion Corp.  156,088  713 
*  DDi Corp.  143,894  704 
*  Powerwave Technologies Inc.  555,713  700 
*  Advanced Analogic Technologies Inc.  177,182  698 
*  Virage Logic Corp.  126,239  694 
*  Intellicheck Mobilisa Inc.  184,780  693 
*  Online Resources Corp.  131,315  691 
*  iGO Inc.  558,045  686 
*  TechTeam Global Inc.  89,934  684 
*  BigBand Networks Inc.  198,676  683 
*  Network Engines Inc.  508,558  681 
*  Onvia Inc.  86,003  680 
*  Datalink Corp.  156,985  680 
*  Information Services Group Inc.  210,952  669 
*  Monotype Imaging Holdings Inc.  74,022  668 
*  Presstek Inc.  312,538  666 
*  Tollgrade Communications Inc.  108,104  661 
*  Aware Inc.  229,403  642 
*  Deltek Inc.  82,423  641 
*  Callidus Software Inc.  212,098  641 
*  Evolving Systems Inc.  102,263  639 
*  Liquidity Services Inc.  62,849  633 
  Keithley Instruments Inc.  135,231  629 
*  Versant Corp.  41,149  628 
*  On2 Technologies Inc.  1,026,995  626 
*  Airvana Inc.  82,168  624 
*  Web.com Group Inc.  94,976  620 
*  PC Mall Inc.  115,108  601 
  Mocon Inc.  64,776  595 
*  Tier Technologies Inc. Class B  73,319  587 
*  LogMeIn Inc.  29,300  585 
*  ShoreTel Inc.  100,327  580 
*  Performance Technologies Inc.  207,579  579 
*  Isilon Systems Inc.  83,941  576 
*  Axcelis Technologies Inc.  403,124  568 
*  SRS Labs Inc.  77,319  567 
*  White Electronic Designs Corp.  118,941  555 
*  Magma Design Automation Inc.  235,050  543 
  Ipass Inc.  511,258  532 
*  Aetrium Inc.  205,036  531 
*  PDF Solutions Inc.  136,887  527 
*  KEY Tronic Corp.  131,723  515 
*  Dice Holdings Inc.  76,344  500 
*  Phoenix Technologies Ltd.  180,940  498 

42


Vanguard® Extended Market Index Fund
Schedule of Investments
December 31, 2009

      Market 
      Value 
    Shares  ($000) 
*  NAPCO Security Technologies Inc.  297,429  497 
  Astro-Med Inc.  64,998  485 
*,^  Rosetta Stone Inc.  26,700  479 
*  SCM Microsystems Inc.  211,532  478 
  Mesa Laboratories Inc.  18,022  475 
*  X-Rite Inc.  213,449  465 
*  Opnext Inc.  243,990  464 
*  PC-Tel Inc.  76,762  454 
*  Ramtron International Corp.  255,996  453 
*  PC Connection Inc.  66,806  451 
*  QuickLogic Corp.  208,060  439 
*  Dot Hill Systems Corp.  226,620  431 
  Imergent Inc.  69,800  424 
*  CPI International Inc.  31,980  423 
*  Travelzoo Inc.  32,912  405 
*  Unica Corp.  51,671  400 
*  American Technology Corp.  269,044  398 
*  PLX Technology Inc.  123,127  398 
*  Chordiant Software Inc.  144,521  397 
*  Bsquare Corp.  160,181  397 
*,^  Superconductor Technologies Inc.  166,026  394 
*  LoJack Corp.  96,443  390 
*  Market Leader Inc.  181,107  380 
*  California Micro Devices Corp.  79,885  376 
*  Geeknet Inc.  309,503  368 
*  Emcore Corp.  342,647  367 
*  Virtusa Corp.  39,776  360 
  TheStreet.com Inc.  148,904  357 
*  CalAmp Corp.  103,189  355 
*  OpenTable Inc.  13,900  354 
*  Frequency Electronics Inc.  67,949  349 
*  ICx Technologies Inc.  35,778  341 
*,^  Parkervision Inc.  180,489  330 
*  Optical Cable Corp.  94,361  311 
*  Comarco Inc.  112,532  304 
*  EndWave Corp.  121,382  296 
*  Autobytel Inc.  291,920  292 
*  Video Display Corp.  63,554  290 
*  Cyberoptics Corp.  42,363  284 
*  Micronetics Inc.  86,414  281 
*  Westell Technologies Inc. Class A  228,483  274 
*  ID Systems Inc.  83,802  272 
*  Digital Ally Inc.  131,019  269 
*  EF Johnson Technologies Inc.  240,165  267 
*  RAE Systems Inc.  239,928  264 
*  Transwitch Corp.  120,275  253 
*  Simulations Plus Inc.  176,614  242 
*  PAR Technology Corp.  40,318  233 
*  Majesco Entertainment Co.  199,158  229 
*  TechTarget Inc.  40,067  226 
*  Ditech Networks Inc.  165,161  213 
*  FSI International Inc.  71,517  210 
*  Zhone Technologies Inc.  497,775  204 
*  Insweb Corp.  61,961  201 
*  LeCroy Corp.  53,309  195 
*  Planar Systems Inc.  65,214  186 
*  Salary.com Inc.  77,197  181 
*  Lantronix Inc.  51,134  166 
*  RF Monolithics Inc.  160,383  162 
*  Pixelworks Inc.  51,396  156 
  Richardson Electronics Ltd.  26,210  154 
*  Cinedigm Digital Cinema Corp. Class A  121,272  150 
*  Digimarc Corp.  9,958  149 
*  Management Network Group Inc.  347,479  146 

43


Vanguard® Extended Market Index Fund
Schedule of Investments
December 31, 2009

      Market 
      Value 
    Shares  ($000) 
*  Cascade Microtech Inc.  32,100  144 
*  GSI Technology Inc.  32,011  143 
*  AuthenTec Inc.  64,580  143 
*  Looksmart Ltd.  132,688  135 
*  Hauppauge Digital Inc.  153,081  132 
*  Authentidate Holding Corp.  124,549  131 
*  Tii Network Technologies Inc.  107,178  131 
*,^  VirnetX Holding Corp.  42,700  126 
  TSR Inc.  54,086  125 
*  Wave Systems Corp. Class A  84,031  119 
  Selectica Inc.  486,650  112 
  Bel Fuse Inc. Class A  5,719  111 
*  Convera Corp. Class A  453,594  110 
*  Merix Corp.  40,537  99 
*,^  Lightpath Technologies Inc. Class A  55,757  94 
  Newtek Business Services Inc.  91,242  90 
*  EasyLink Services International Corp. Class A  49,151  82 
*  Sonic Foundry Inc.  16,152  78 
*  Ikanos Communications Inc.  40,764  76 
*  ePlus Inc.  3,731  62 
*  SteelCloud Inc.  234,983  61 
*  Mastech Holdings Inc.  12,664  60 
*  Scientific Learning Corp.  11,148  56 
*  MEMSIC Inc.  11,452  38 
*  Digital Angel Corp.  45,625  35 
*  Glu Mobile Inc.  26,900  31 
*  Entorian Technologies Inc.  5,351  30 
*  NetSol Technologies Inc.  25,971  27 
*  Soundbite Communications Inc.  8,674  25 
*  Procera Networks Inc.  54,970  24 
*  NetList Inc.  4,200  22 
*  Inuvo Inc.  61,766  21 
*  Adept Technology Inc. Class A  5,392  18 
*  Vertro Inc.  42,625  18 
*  MakeMusic Inc.  3,956  16 
*  Overland Storage Inc.  7,040  16 
*  Guidance Software Inc.  2,929  15 
*  ClearOne Communications Inc.  4,410  14 
*  Unify Corp.  3,600  11 
*  Numerex Corp. Class A  2,200  9 
*  Elixir Gaming Technologies Inc.  35,584  9 
*  EDGAR Online Inc.  5,588  8 
*  Acorn Energy Inc.  800  6 
*  eLoyalty Corp.  700  5 
*  Rainmaker Systems Inc.  3,216  5 
*  WebMediaBrands Inc.  2,700  2 
*  Relm Wireless Corp.  712  2 
*  Globalscape Inc.  1,400  2 
*  Interphase Corp.  449  1 
*  NaviSite Inc.  400  1 
*  Conolog Corp.  25  — 
*  US Dataworks Inc.  100  — 
      1,981,884 
Materials (6.3%)     
  Mosaic Co.  962,833  57,510 
  Lubrizol Corp.  410,334  29,934 
  Celanese Corp. Class A  863,215  27,709 
*  Crown Holdings Inc.  965,726  24,703 
  Martin Marietta Materials Inc.  268,383  23,996 
  Walter Energy Inc.  318,524  23,988 
  Steel Dynamics Inc.  1,296,129  22,967 
  Nalco Holding Co.  830,773  21,193 
  Albemarle Corp.  551,127  20,044 
  Terra Industries Inc.  600,093  19,317 

44


Vanguard® Extended Market Index Fund
Schedule of Investments
December 31, 2009

      Market 
      Value 
    Shares  ($000) 
  Ashland Inc.  450,332  17,842 
  Sonoco Products Co.  598,588  17,509 
  Reliance Steel & Aluminum Co.  384,643  16,624 
  Valspar Corp.  606,145  16,451 
  RPM International Inc.  776,231  15,781 
  Aptargroup Inc.  404,459  14,455 
  Packaging Corp. of America  619,038  14,244 
*  Domtar Corp.  252,262  13,978 
  Temple-Inland Inc.  642,627  13,566 
  Compass Minerals International Inc.  196,001  13,169 
  Rock-Tenn Co. Class A  233,024  11,747 
  Greif Inc. Class A  206,130  11,127 
  Huntsman Corp.  984,376  11,114 
  Royal Gold Inc.  228,068  10,742 
  Scotts Miracle-Gro Co. Class A  270,959  10,651 
  Cytec Industries Inc.  292,340  10,647 
  Commercial Metals Co.  677,059  10,596 
  Cabot Corp.  392,758  10,302 
*  WR Grace & Co.  369,174  9,359 
  Silgan Holdings Inc.  160,913  9,314 
*  Solutia Inc.  730,057  9,272 
  Olin Corp.  472,127  8,272 
*  Coeur d'Alene Mines Corp.  451,248  8,150 
  NewMarket Corp.  70,451  8,086 
*  Hecla Mining Co.  1,254,440  7,752 
  Sensient Technologies Corp.  294,213  7,738 
  Schweitzer-Mauduit International Inc.  106,376  7,484 
*  Intrepid Potash Inc.  248,101  7,237 
*  Rockwood Holdings Inc.  303,005  7,139 
  Carpenter Technology Corp.  264,819  7,137 
  Eagle Materials Inc.  263,412  6,862 
  HB Fuller Co.  292,490  6,654 
  Schnitzer Steel Industries Inc.  129,997  6,201 
  Minerals Technologies Inc.  112,676  6,137 
  Texas Industries Inc.  166,804  5,836 
*  OM Group Inc.  183,726  5,767 
*  Century Aluminum Co.  344,955  5,585 
*  Allied Nevada Gold Corp.  353,676  5,333 
*  Louisiana-Pacific Corp.  748,718  5,226 
  Worthington Industries Inc.  366,434  4,789 
*  Calgon Carbon Corp.  336,581  4,678 
  Arch Chemicals Inc.  150,775  4,656 
*  RTI International Metals Inc.  180,453  4,542 
  Ferro Corp.  518,437  4,272 
  AMCOL International Corp.  148,641  4,224 
*  PolyOne Corp.  558,232  4,170 
  Kaiser Aluminum Corp.  92,822  3,863 
*  Clearwater Paper Corp.  68,673  3,775 
  Koppers Holdings Inc.  123,506  3,760 
  Balchem Corp.  112,171  3,759 
*  Georgia Gulf Corp.  198,976  3,458 
*,^  Globe Specialty Metals Inc.  367,563  3,455 
  Wausau Paper Corp.  295,793  3,431 
  Glatfelter  274,879  3,340 
*  Horsehead Holding Corp.  260,652  3,323 
  A Schulman Inc.  157,625  3,181 
  Deltic Timber Corp.  64,571  2,982 
  Westlake Chemical Corp.  119,497  2,979 
  Stepan Co.  45,051  2,920 
*  Stillwater Mining Co.  264,635  2,509 
  Zep Inc.  131,780  2,282 
*  Buckeye Technologies Inc.  232,259  2,267 
*  Brush Engineered Materials Inc.  121,105  2,245 
  Innophos Holdings Inc.  97,553  2,243 

45


Vanguard® Extended Market Index Fund
Schedule of Investments
December 31, 2009

      Market 
      Value 
    Shares  ($000) 
  Olympic Steel Inc.  68,375  2,228 
*  Omnova Solutions Inc.  334,724  2,052 
  Haynes International Inc.  61,541  2,029 
  Spartech Corp.  190,709  1,957 
  Myers Industries Inc.  212,705  1,936 
*  Headwaters Inc.  273,991  1,786 
*  KapStone Paper and Packaging Corp.  178,612  1,759 
*  Boise Inc.  295,597  1,570 
*  Graphic Packaging Holding Co.  452,113  1,569 
*  AEP Industries Inc.  40,613  1,555 
*  Zoltek Cos. Inc.  156,435  1,486 
*  LSB Industries Inc.  96,030  1,354 
  AM Castle & Co.  97,693  1,337 
*  US Gold Corp.  525,256  1,303 
*  Senomyx Inc.  298,724  1,126 
  Hawkins Inc.  50,406  1,100 
  Quaker Chemical Corp.  51,775  1,069 
  Neenah Paper Inc.  76,337  1,065 
  American Vanguard Corp.  126,698  1,052 
*  US Energy Corp. Wyoming  175,794  1,042 
*  General Moly Inc.  498,316  1,036 
  ICO Inc.  141,389  1,034 
*  Bway Holding Co.  49,562  953 
*  ADA-ES Inc.  134,703  822 
*  Universal Stainless & Alloy  40,327  761 
  Penford Corp.  79,053  687 
  NL Industries Inc.  97,320  675 
  Great Northern Iron Ore Properties  7,184  675 
*  Landec Corp.  105,257  657 
  Synalloy Corp.  49,964  437 
*  United States Lime & Minerals Inc.  12,412  429 
*  Mercer International Inc.  130,666  402 
*  American Pacific Corp.  37,690  292 
*  Rock of Ages Corp.  91,696  270 
*  US Concrete Inc.  250,845  228 
*,^  Flotek Industries Inc.  170,030  228 
*  Mod-Pac Corp.  49,498  214 
*  Nanophase Technologies Corp.  232,423  202 
*  Solitario Exploration & Royalty Corp.  49,600  115 
  KMG Chemicals Inc.  6,700  100 
*  TOR Minerals International Inc.  160,090  89 
*  WHX Corp.  13,022  31 
*  Timberline Resources Corp.  7,815  9 
*  Clean Diesel Technologies Inc.  4,027  6 
      790,277 
Telecommunication Services (2.0%)     
*  Crown Castle International Corp.  1,505,286  58,766 
*  NII Holdings Inc.  999,122  33,550 
*  SBA Communications Corp. Class A  702,683  24,004 
*  tw telecom inc Class A  897,735  15,387 
*  Level 3 Communications Inc.  9,856,108  15,080 
  Telephone & Data Systems Inc.  416,775  14,137 
*  Syniverse Holdings Inc.  417,323  7,295 
*  AboveNet Inc.  108,961  7,087 
*,^  Clearwire Corp. Class A  1,002,858  6,779 
*  Leap Wireless International Inc.  358,220  6,287 
*  Neutral Tandem Inc.  201,732  4,589 
  Telephone & Data Systems Inc. - Special Common Shares  147,351  4,450 
*  Cincinnati Bell Inc.  1,270,107  4,382 
*  United States Cellular Corp.  99,273  4,210 
  Iowa Telecommunications Services Inc.  197,315  3,307 
  NTELOS Holdings Corp.  183,992  3,279 
*  PAETEC Holding Corp.  761,927  3,162 
  Atlantic Tele-Network Inc.  57,041  3,138 

46


Vanguard® Extended Market Index Fund
Schedule of Investments
December 31, 2009

      Market 
      Value 
    Shares  ($000) 
*  Premiere Global Services Inc.  364,346  3,006 
  Shenandoah Telecommunications Co.  142,741  2,905 
*  Cogent Communications Group Inc.  269,169  2,654 
  Consolidated Communications Holdings Inc.  145,344  2,543 
*,^  Cbeyond Inc.  154,991  2,441 
  Alaska Communications Systems Group Inc.  267,421  2,134 
  USA Mobility Inc.  168,549  1,856 
*  General Communication Inc. Class A  273,042  1,742 
*  8x8 Inc.  703,165  1,062 
  HickoryTech Corp.  98,365  869 
*  SureWest Communications  82,340  820 
*,^  Vonage Holdings Corp.  500,540  701 
  Warwick Valley Telephone Co.  48,561  634 
*  IDT Corp. Class B  126,262  612 
*  ICO Global Communications Holdings Ltd.  537,375  580 
*  XETA Technologies Inc.  174,192  524 
*,^  Clearwire Corp. Rights Exp. 6/21/10  1,002,120  401 
*  TerreStar Corp.  348,400  327 
*  FiberTower Corp.  67,713  283 
*  inContact Inc.  71,934  211 
*  Arbinet Corp.  76,460  190 
*  Globalstar Inc.  216,077  188 
*  Multiband Corp.  33,188  65 
*  IDT Corp.  2,456  9 
      245,646 
Utilities (4.8%)     
*  NRG Energy Inc.  1,541,318  36,391 
  Oneok Inc.  634,107  28,262 
  MDU Resources Group Inc.  1,113,730  26,284 
  National Fuel Gas Co.  484,273  24,214 
  NSTAR  642,023  23,626 
*  Calpine Corp.  2,074,125  22,815 
  OGE Energy Corp.  581,866  21,465 
  Energen Corp.  431,374  20,188 
  Alliant Energy Corp.  665,011  20,123 
  DPL Inc.  708,390  19,552 
  NV Energy Inc.  1,410,766  17,465 
  AGL Resources Inc.  464,996  16,958 
  Atmos Energy Corp.  556,633  16,365 
  ITC Holdings Corp.  304,964  15,886 
  UGI Corp.  653,949  15,819 
  Great Plains Energy Inc.  813,552  15,775 
  Aqua America Inc.  819,115  14,343 
  Westar Energy Inc.  655,425  14,236 
*  Mirant Corp.  872,423  13,322 
*  RRI Energy Inc.  2,120,672  12,130 
  Vectren Corp.  487,885  12,041 
  Piedmont Natural Gas Co. Inc.  439,548  11,758 
  Hawaiian Electric Industries Inc.  553,454  11,567 
  WGL Holdings Inc.  301,482  10,112 
  Cleco Corp.  363,658  9,939 
  American Water Works Co. Inc.  419,885  9,410 
  New Jersey Resources Corp.  250,335  9,363 
  Portland General Electric Co.  452,067  9,227 
  IDACORP Inc.  285,517  9,122 
  Southwest Gas Corp.  270,320  7,712 
  Northwest Natural Gas Co.  159,472  7,183 
  Avista Corp.  329,365  7,111 
  Unisource Energy Corp.  215,074  6,923 
  South Jersey Industries Inc.  179,139  6,840 
  PNM Resources Inc.  521,159  6,593 
  Black Hills Corp.  233,707  6,224 
  Allete Inc.  174,807  5,713 
  NorthWestern Corp.  216,427  5,631 

47


Vanguard® Extended Market Index Fund
Schedule of Investments
December 31, 2009

          Market 
          Value 
        Shares  ($000) 
*  Dynegy Inc. Class A      3,060,818  5,540 
*  El Paso Electric Co.      269,428  5,464 
  UIL Holdings Corp.      180,040  5,056 
  MGE Energy Inc.      139,058  4,970 
  California Water Service Group      125,006  4,603 
  Ormat Technologies Inc.      120,220  4,549 
  Laclede Group Inc.      133,405  4,505 
  CH Energy Group Inc.      95,072  4,042 
  Empire District Electric Co.      213,053  3,990 
  American States Water Co.      111,762  3,957 
  SJW Corp.      80,643  1,820 
  Chesapeake Utilities Corp.      54,162  1,736 
  Middlesex Water Co.      92,628  1,633 
  Central Vermont Public Service Corp.      67,759  1,409 
  Connecticut Water Service Inc.      54,389  1,347 
  Unitil Corp.      46,261  1,063 
*  Cadiz Inc.      85,487  1,023 
  Southwest Water Co.      159,046  937 
  York Water Co.      60,531  878 
  Maine & Maritimes Corp.      20,903  727 
  Artesian Resources Corp. Class A      30,621  561 
  Delta Natural Gas Co. Inc.      17,964  514 
  Pennichuck Corp.      16,987  359 
*  Purecycle Corp.      74,186  211 
*  MMC Energy Inc. Escrow Shares      18,535  2 
          608,584 
 
Total Common Stocks (Cost $12,111,726)        12,402,223 
 
 
 
    Coupon       
 
Convertible Preferred Stocks (0.0%)         
Consumer Discretionary (0.0%)         
2  Sealy Corp. Pfd. (Cost $633)  8.000%    5,754  492 
 
 
Temporary Cash Investments (2.2%)1         
Money Market Fund (2.1%)         
3,4  Vanguard Market Liquidity Fund  0.187%    271,943,860  271,944 
 
 
        Face   
      Maturity  Amount   
      Date  ($000)   
U.S. Government and Agency Obligations (0.1%)         
5,6  Freddie Mac Discount Notes  0.230%  6/21/10  7,000  6,993 
 
Total Temporary Cash Investments (Cost $278,936)        278,937 
 
Total Investments (101.1%) (Cost $12,391,295)        12,681,652 
Other Assets and Liabilities—Net (-1.1%)4        (135,743) 
 
Net Assets (100%)        12,545,909 

* Non-income-producing security.
^ Part of security position is on loan to broker-dealers. The total value of securities on loan is $153,127,000.
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 99.8% and 1.3%, respectively, of net
assets.
2 Non-income producing security - new issue that has not paid a dividend as of December 31, 2009.
3 Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by Vanguard. Rate shown is the 7-day
yield.

48


Vanguard® Extended Market Index Fund
Schedule of Investments
December 31, 2009

4 Includes $178,285,000 of collateral received for securities on loan.
5 Securities with a value of $6,993,000 have been segregated as initial margin for open futures contracts.
6 The issuer operates under a congressional charter; its securities are not backed by the full faith and credit of the U.S. government.

49


Report of Independent Registered Public Accounting Firm

To the Trustees of Vanguard Index Funds and the Shareholders of Vanguard Extended Market Index Fund:

We have audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States), the financial statements (not presented herein) of Vanguard Extended Market Index Fund (constituting a separate portfolio of Vanguard Index Funds, hereafter referred to as the “Fund”) as of December 31, 2009 and for the year then ended and have issued our unqualified report thereon dated February 12, 2010. Our audit included an audit of the Fund’s schedule of investments as of December 31, 2009. This schedule of investments is the responsibility of the Fund’s management. Our responsibility is to express an opinion on this schedule of investments based on our audit.

In our opinion, the accompanying schedule of investments referred to above, when read in conjunction with the financial statements of the Fund referred to above, presents fairly, in all material respects, the information set forth therein.

PricewaterhouseCoopers LLP
Philadelphia, PA
February 12, 2010

50


© 2010 Vanguard Group. Inc.
All rights reserved.
Vanguard Marketing Corporation, Distributor.

SNA980 022010


Vanguard U.S. Stock Index Funds 
Large-Capitalization Portfolios 
Annual Report 
December 31, 2009 

Vanguard Growth Index Fund 
Vanguard Value Index Fund 
Vanguard Large-Cap Index Fund 
Vanguard Total Stock Market Index Fund 


> For the fiscal year ended December 31, 2009, the broad U.S. stock market

returned about 29%, with all market sectors producing positive results.

> Returns for Vanguard’s large-capitalization index funds ranged from about 20%

for the Value Index Fund to about 36% for the Growth Index Fund.

> The Total Stock Market Index Fund, which invests in large-, mid-, and small-cap

stocks, returned about 29%.

Contents   
Your Fund’s Total Returns.  1 
Chairman’s Letter.  4 
Results of Proxy Voting.  10 
Growth Index Fund.  12 
Value Index Fund.  33 
Large-Cap Index Fund.  54 
Total Stock Market Index Fund.  70 
Your Fund’s After-Tax Returns.  89 
About Your Fund’s Expenses.  91 
Glossary.  94 


Growth Index Fund
Value Index Fund
Large-Cap Index Fund
Total Stock Market Index Fund

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 Growth Index Fund   
Investor Shares  36.29% 
Admiral™ Shares  36.42 
Signal® Shares  36.42 
Institutional Shares  36.50 
ETF Shares   
Market Price  36.28 
Net Asset Value  36.46 
MSCI US Prime Market Growth Index  36.50 
Large-Cap Growth Funds Average  35.40 
Large-Cap Growth Funds Average: Derived from data provided by Lipper Inc.
Vanguard Value Index Fund   
Investor Shares  19.58% 
Admiral™ Shares  19.72 
Signal® Shares  19.70 
Institutional Shares  19.79 
ETF Shares   
Market Price  19.58 
Net Asset Value  19.72 
MSCI US Prime Market Value Index  19.54 
Large-Cap Value Funds Average  23.24 
Large-Cap Value 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. Institutional Shares are available for a minimum initial investment of $5 million. These Vanguard ETF Shares are
traded on the NYSE Arca exchange and are available only through brokers. The table shows the ETF returns based on both the NYSE Arca
market price and the net asset value for a share. U.S. Pat. No. 6,879,964 B2; 7,337,138.

1


Your Fund’s Total Returns

Fiscal Year Ended December 31, 2009   
  Total 
  Returns 
Vanguard Large-Cap Index Fund   
Investor Shares  27.60% 
Admiral™ Shares  27.80 
Signal® Shares  27.81 
Institutional Shares  27.84 
ETF Shares   
Market Price  27.70 
Net Asset Value  27.80 
MSCI US Prime Market 750 Index  27.80 
Large-Cap Core Funds Average  27.46 
Large-Cap Core Funds Average: Derived from data provided by Lipper Inc.
Vanguard Total Stock Market Index Fund   
Investor Shares  28.70% 
Admiral™ Shares  28.83 
Signal® Shares  28.85 
Institutional Shares  28.83 
ETF Shares   
Market Price  28.73 
Net Asset Value  28.82 
MSCI US Broad Market Index  28.76 
Multi-Cap Core Funds Average  30.88 
Multi-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. Institutional Shares are available for a minimum initial investment of $5 million. These Vanguard ETF Shares are
traded on the NYSE Arca exchange and are available only through brokers. The table shows the ETF returns based on both the NYSE Arca
market price and the net asset value for a share. U.S. Pat. No. 6,879,964 B2; 7,337,138.

2


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 Growth Index Fund         
Investor Shares  $20.29  $27.32  $0.281  $0.000 
Admiral Shares  20.30  27.32  0.315  0.000 
Signal Shares  18.80  25.30  0.293  0.000 
Institutional Shares  20.30  27.32  0.329  0.000 
ETF Shares  39.43  53.08  0.614  0.000 
Vanguard Value Index Fund         
Investor Shares  $16.08  $18.63  $0.509  $0.000 
Admiral Shares  16.08  18.63  0.529  0.000 
Signal Shares  16.73  19.38  0.551  0.000 
Institutional Shares  16.08  18.63  0.539  0.000 
ETF Shares  41.21  47.75  1.357  0.000 
Vanguard Large-Cap Index Fund         
Investor Shares  $16.41  $20.47  $0.402  $0.000 
Admiral Shares  20.51  25.59  0.533  0.000 
Signal Shares  17.89  22.32  0.467  0.000 
Institutional Shares  84.43  105.33  2.233  0.000 
ETF Shares  40.61  50.67  1.057  0.000 
Vanguard Total Stock Market Index Fund         
Investor Shares  $21.80  $27.45  $0.515  $0.000 
Admiral Shares  21.80  27.45  0.539  0.000 
Signal Shares  21.04  26.50  0.519  0.000 
Institutional Shares  21.81  27.46  0.541  0.000 
ETF Shares  44.78  56.39  1.107  0.000 

3


 

 

 

Chairman’s Letter

Dear Shareholder,

At the start of 2009, the United States was in the midst of the biggest economic crisis in decades and stock prices had fallen to historic lows. However, in mid-March, the market staged an impressive rally and stock prices began to soar. As of December 31, the broad U.S. stock market had rebounded dramatically. All sectors of the market posted positive returns for the year.

Growth stocks outperformed their value counterparts for the 12 months, putting Vanguard Growth Index Fund ahead of Vanguard Value Index Fund. The Growth Index Fund returned 36.29%, while Vanguard Value Index Fund returned 19.58%.

Vanguard Large-Cap Index Fund, which invests in both value and growth stocks, returned 27.60%. Vanguard Total Stock Market Index Fund—which includes growth and value stocks of all market capitalizations—returned 28.70% for the period. (All of these returns are for Investor Shares.)

All four funds closely tracked their target indexes for the 12-month period.

Impressive stock returns masked lingering uncertainties

In 2009 the broad U.S. stock market returned roughly 29%, its highest calendar-year return since 2003. The year began

4


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.

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%.

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% 

5


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.

Growth in all sectors boosted the funds’ returns

Vanguard’s large-cap index funds, like the rest of the broad U.S. market, saw a huge turn of fortune in 2009, as the stock market experienced a historic comeback. After one of the worst global recessions in decades, the economy began to show

signs of recovery as government stimulus programs took hold and investors slowly regained confidence.

The recovery was broad-based, and all ten market sectors posted gains for the year—in stark contrast to 2008, when all ten recorded losses. The biggest gains came from the information technology, consumer discretionary, and financial sectors.

With an overall return close to 60%, the information technology sector boosted performance in all four funds. The sector contributed almost 20 percentage points to the return of the Growth Index Fund, about 11 percentage points to those of the Large-Cap Index Fund and Total Stock

Expense Ratios             
Your Fund Compared With Its Peer Group             
            Peer 
  Investor  Admiral  Signal  Institutional  ETF  Group 
  Shares  Shares  Shares  Shares  Shares  Average 
Growth Index Fund  0.28%  0.15%  0.15%  0.09%  0.15%  1.34% 
Value Index Fund  0.26  0.15  0.15  0.09  0.15  1.25 
Large-Cap Index Fund  0.26  0.15  0.15  0.09  0.13  1.26 
Total Stock Market Index Fund  0.18  0.09  0.09  0.06  0.09  1.18 

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 funds’ net assets as of the prospectus date. For the fiscal year ended December 31, 2009, the expense ratios were: for the
Growth Index Fund, 0.28% for Investor Shares, 0.14% for Admiral Shares, 0.14% for Signal Shares, 0.08% for Institutional Shares, and 0.14%
for ETF Shares; for the Value Index Fund, 0.26% for Investor Shares, 0.14% for Admiral Shares, 0.14% for Signal Shares, 0.08% for
Institutional Shares, and 0.14% for ETF Shares; for the Large-Cap Index Fund, 0.26% for Investor Shares, 0.12% for Admiral Shares, 0.12% for
Signal Shares, 0.08% for Institutional Shares, and 0.12% for ETF Shares; and for the Total Stock Market Index Fund, 0.18% for Investor
Shares, 0.07% for Admiral Shares, 0.07% for Signal Shares, 0.06% for Institutional Shares, and 0.07% for ETF Shares. The peer-group
expense ratios are derived from data provided by Lipper Inc. and capture information through year-end 2008.

Peer groups: for the Growth Index Fund, Large-Cap Growth Funds; for the Value Index Fund, Large-Cap Value Funds; for the Large-Cap Index
Fund, Large-Cap Core Funds; and for the Total Stock Market Index Fund, Multi-Cap Core Funds.

6


Market Index Fund, and about 2 percentage points to the return of the Value Index Fund. After being hit hard during the financial crisis, technology stocks spiked when corporations and consumers resumed spending on computer hardware, software, and electronics.

In the consumer discretionary sector, retailers, media companies, hotels, and restaurants started to bounce back as

consumers slowly began opening their wallets again. The sector made significant contributions to all four funds, in each case adding more than 4 percentage points to the overall return.

The financial sector—the area of the market that was hit hardest by the global credit crisis—also made significant contributions to all four funds, especially the Value Index Fund, where it added more

Total Returns   
Ten Years Ended December 31, 2009   
  Average 
  Annual Return 
Growth Index Fund Investor Shares  -2.75% 
Spliced Growth Index  -2.60 
Large-Cap Growth Funds Average  -4.43 
Spliced Growth Index: S&P 500/Barra Growth Index through May 16, 2003; MSCI US Prime Market Growth Index thereafter.   
Large-Cap Growth Funds Average: Derived from data provided by Lipper Inc.   
 
Value Index Fund Investor Shares  1.23% 
Spliced Value Index  1.32 
Large-Cap Value Funds Average  0.42 
Spliced Value Index: S&P 500/Barra Value Index through May 16, 2003; MSCI US Prime Market Value Index thereafter.   
Large-Cap Value Funds Average: Derived from data provided by Lipper Inc.   
 
Large-Cap Index Fund Investor Shares (Returns since inception: 1/30/2004)  2.26% 
MSCI US Prime Market 750 Index  2.39 
Large-Cap Core Funds Average  0.89 
Large-Cap Core Funds Average: Derived from data provided by Lipper Inc.   
Total Stock Market Index Fund Investor Shares  -0.27% 
Spliced Total Stock Market Index  -0.22 
Multi-Cap Core Funds Average  -0.17 

Spliced Total Stock Market Index: Dow Jones Wilshire 5000 Index through April 22, 2005; MSCI US Broad Market Index thereafter.
Multi-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.

7


than 4 percentage points to the 12-month result. Financial companies, including big banks, investment firms, and insurance companies, began to win back investors’ confidence as their balance sheets showed signs of improvement.

Health care and energy stocks also contributed notably to the performance of the Growth Index Fund, Large-Cap Index Fund, and Total Stock Market Index Fund. Meanwhile, the Value Index Fund drew particular strength from the industrial sector.

Recent volatility has taken a toll on long-term results

Vanguard encourages investors to look at long-term performance when evaluating any fund. Taking a long-term view can help you put short-term swings in perspective. While time can moderate the effects of short-term extremes, however, it cannot eliminate them. A single year’s return can still have a big impact, for better or worse, on longer-term performance.

Vanguard’s large-cap index funds provide a good example of how this can happen. Although the funds delivered strong returns in 2009, their longer-term records are still suffering from the prior volatility. For example, at the end of 2007, the Investor Shares of Vanguard Total Stock Market Index Fund had returned 6.25% a year, on average, over the previous decade. Two years later, with 2008’s stock market collapse embedded in the record and the

1999 rally gone from the calculation, the fund’s 10-year average annual return stood at –0.27%, despite the powerful rebound we just saw. Similar dynamics are apparent in the records of the other large-cap index funds.

Despite the unsettled investment environment that we’ve faced over the past couple of years, the funds have done an exceptional job of meeting their shared objective of closely tracking their respective benchmarks. This is a credit to the funds’ advisor, Vanguard Quantitative Equity Group, which has more than 30 years of index-tracking experience. These long-tenured professionals have developed sophisticated portfolio construction and trading methodologies to help Vanguard deliver strong index fund management in a variety of marketplaces and market environments. The group’s efforts are made easier, of course, by the funds’ low operating expenses.

A balanced approach can help to mute the market’s ’noise’

Recent months have brought positive news for stocks; however, investors will not easily forget the hardships of the not-so-distant past. And, as I’ve mentioned above, those hardships have taken their toll on long-term investment results. Although things are looking up, no one can be sure about what 2010 will bring.

8


Although we can’t control the markets or the economy, we can control how we react to the inevitable volatility and incessant “noise” that accompanies investing. At Vanguard, we always advocate a balanced approach that includes holding stock, bond, and money market funds in proportions adapted to your goals and unique financial circumstances. Vanguard’s large-cap index funds can help you build such a well-balanced investment portfolio.

On another matter, I would like to inform you that as of 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.

As always, thank you for entrusting your assets to Vanguard.

Sincerely,


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

9


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.

Growth Index Fund, Value Index Fund, Large-Cap Index Fund, Total Stock Market Index Fund

      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 
Growth Index Fund           
2a  264,248,164  11,659,969  11,945,358  37,410,465  81.2% 
2b  262,180,869  12,184,854  13,487,771  37,410,462  80.6% 
2c  258,900,378  12,105,511  16,847,602  37,410,465  79.6% 
2d  260,108,940  12,038,220  15,706,327  37,410,469  80.0% 
2e  259,191,143  11,847,483  16,814,859  37,410,470  79.7% 

10


        Broker  Percentage 
Vanguard Fund  For  Abstain  Against  Non-Votes  For 
Growth Index Fund (continued)           
2f  262,653,969  11,952,586  13,246,937  37,410,464  80.8% 
2g  264,785,652  11,901,936  11,165,908  37,410,460  81.4% 
 
Value Index Fund           
2a  281,657,331  5,182,739  10,718,002  28,773,427  86.3% 
2b  280,534,584  5,685,790  11,337,698  28,773,427  86.0% 
2c  258,391,842  5,422,300  33,743,932  28,773,425  79.2% 
2d  261,215,527  5,396,644  30,945,897  28,773,430  80.0% 
2e  279,173,779  5,294,845  13,089,449  28,773,426  85.5% 
2f  280,977,925  5,443,411  11,136,740  28,773,423  86.1% 
2g  284,985,380  5,316,949  7,255,739  28,773,431  87.3% 
 
Large-Cap Index Fund           
2a  51,661,844  884,201  1,263,043  11,521,195  79.1% 
2b  51,503,657  936,064  1,369,369  11,521,193  78.8% 
2c  51,032,744  926,437  1,849,907  11,521,195  78.1% 
2d  51,057,793  967,182  1,784,115  11,521,194  78.2% 
2e  51,333,187  922,351  1,553,552  11,521,193  78.6% 
2f  51,381,714  910,049  1,517,331  11,521,190  78.6% 
2g  51,542,337  884,682  1,382,073  11,521,191  78.9% 
 
Total Stock Market Index Fund           
2a  2,633,842,353  39,602,175  85,091,327  287,970,302  86.5% 
2b  2,623,326,504  45,314,929  89,894,416  287,970,308  86.1% 
2c  2,600,899,974  62,120,091  95,515,792  287,970,300  85.4% 
2d  2,610,497,304  63,115,841  84,922,711  287,970,301  85.7% 
2e  2,609,901,123  42,950,663  105,684,065  287,970,305  85.7% 
2f  2,620,146,443  43,055,643  95,333,770  287,970,301  86.0% 
2g  2,657,534,657  42,153,886  58,846,925  287,970,688  87.2% 

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 
Value Index Fund  27,278,938  12,641,112  257,635,788  28,775,661  8.4% 
Total Stock Market Index Fund  258,259,697  93,229,953  2,406,541,531  288,474,976  8.5% 

11

 

Growth Index Fund

Fund Profile
As of December 31, 2009

Share-Class Characteristics           
  Investor  Admiral  Signal  Institutional  ETF 
  Shares  Shares  Shares  Shares  Shares 
Ticker Symbol  VIGRX  VIGAX  VIGSX  VIGIX  VUG 
Expense Ratio1  0.28%  0.15%  0.15%  0.09%  0.15% 
30-Day SEC Yield  0.87%  1.02%  1.02%  1.06%  1.02% 

Portfolio Characteristics     
    MSCI US   
    Prime  DJ 
    Market  U.S. Total 
    Growth  Market 
  Fund  Index  Index 
Number of Stocks  423  422  4,201 
Median Market Cap $34.3B  $34.3B  $30.7B 
Price/Earnings Ratio  33.0x  33.0x  35.7x 
Price/Book Ratio  3.4x  3.4x  2.1x 
Return on Equity  23.4%  23.2%  19.3% 
Earnings Growth Rate 16.6%  16.6%  8.1% 
Dividend Yield  1.1%  1.1%  1.8% 
Foreign Holdings  0.0%  0.0%  0.0% 
Turnover Rate  29%  —  — 
Short-Term Reserves  0.1%  —  — 

Volatility Measures     
  MSCI US  DJ 
  Prime Market  U.S. Total 
  Growth  Market 
  Index  Index 
R-Squared  1.00  0.96 
Beta  1.00  0.95 

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) 
Microsoft Corp.  Systems Software  4.5% 
Apple Inc.  Computer Hardware  3.5
International Business Machines Corp. Computer Hardware  3.2
Google Inc. Class A  Internet Software & Services  2.8
Cisco Systems Inc.  Communications Equipment  2.6
Wal-Mart Stores Inc.  Hypermarkets & Super Centers  2.3
Hewlett-Packard Co.  Computer Hardware  2.3
Oracle Corp.  Systems Software  1.8
PepsiCo Inc.  Soft Drinks  1.8
Philip Morris International Inc. Tobacco   1.7
Top Ten    26.5% 

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

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 0.28% for
Investor Shares, 0.14% for Admiral Shares, 0.14% for Signal Shares, 0.08% for Institutional Shares, and 0.14% for ETF Shares.

12


Growth Index Fund

Sector Diversification (% of equity exposure)

    MSCI US   
    Prime  DJ 
    Market  U.S. Total 
    Growth  Market 
  Fund  Index  Index 
Consumer       
Discretionary  11.8%  11.8%  10.3% 
Consumer Staples  11.3  11.3  9.9 
Energy  7.5  7.5  10.6 
Financials  5.9  5.9  16.0 
Health Care  13.8  13.8  12.6 
Industrials  8.0  8.0  10.6 
Information       
Technology  36.1  36.1  19.3 
Materials  4.5  4.5  4.0 
Telecommunication       
Services  0.8  0.8  2.9 
Utilities  0.3  0.3  3.8 

Investment Focus


13


Growth 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 
  Growth Index Fund Investor Shares  36.29%  1.63%  -2.75%  $7,565 
••••••••  Dow Jones U.S. Total Stock Market         
  Index  29.35  1.09  -0.17  9,828 
 
– – – – Spliced Growth Index 36.50 1.79 -2.60 7,688 
_____ Large-Cap Growth Funds Average  35.40 0.73  -4.43 6,353

Spliced Growth Index: S&P 500/Barra Growth Index through May 16, 2003; MSCI US Prime Market Growth Index thereafter.
Large-Cap Growth 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 
Growth Index Fund Admiral Shares  36.42%  1.75%  -1.06%  $90,692 
Dow Jones U.S. Total Stock Market         
Index  29.35  1.09  0.79  107,434 
Spliced Growth Index  36.50  1.79  -0.99  91,304 

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.

14


Growth Index Fund

    Since  Final Value 
  One  Inception  of a $1,000,000 
  Year  (6/4/2007)  Investment 
Growth Index Fund Signal Shares  36.42%  -5.54%  $863,469 
Dow Jones U.S. Total Stock Market       
Index  29.35  -9.23  779,306 
MSCI US Prime Market Growth       
Index  36.50  -5.52  864,071 
Performance for the fund’s Signal Shares and comparative standards is calculated since the Signal Shares’ inception.   

        Final Value 
  One  Five  Ten  of a $5,000,000 
  Year  Years  Years  Investment 
Growth Index Fund Institutional         
Shares  36.50%  1.79%  -2.62%  $3,835,403 
Dow Jones U.S. Total Stock Market         
Index  29.35  1.09  -0.17  4,913,789 
Spliced Growth Index  36.50  1.79  -2.60  3,843,830 

      Since  Final Value 
  One  Five  Inception  of a $10,000 
  Year  Years  (1/26/2004)  Investment 
Growth Index Fund         
ETF Shares Net Asset Value  36.46%  1.75%  1.92%  $11,191 
Dow Jones U.S. Total Stock Market Index  29.35  1.09  2.20  11,376 
MSCI US Prime Market Growth Index  36.50  1.79  1.96  11,221 

Performance for the fund’s ETF Shares and comparative standards is calculated since the ETF Shares’ inception.
For more information about how the ETF Shares' market prices have compared with their net asset value, visit www.vanguard.com, select
your ETF, and then select the Performance tab. The Premium/Discount table there shows the percentages of days on which the ETF Shares'
market price was above or below the NAV.

Cumulative Returns of ETF Shares: January 26, 2004, Through December 31, 2009

  One  Five  Since 
  Year  Years  Inception 
Growth Index Fund       
ETF Shares Market Price  36.28%  9.06%  11.92% 
Growth Index Fund       
ETF Shares Net Asset Value  36.46  9.06  11.91 
MSCI US Prime Market Growth Index  36.50  9.26  12.21 
Performance for the fund’s ETF Shares and comparative standards is calculated since the ETF 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.

15


Growth Index Fund

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.

16


Growth 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 (11.8%)   
  McDonald’s Corp.  3,180,845  198,612 
*  Amazon.com Inc.  1,007,015  135,464 
  Target Corp.  2,081,868  100,700 
  Lowe’s Cos. Inc.  4,304,910  100,692 
*  DIRECTV Class A  2,648,611  88,331 
*  Ford Motor Co.  8,264,160  82,642 
  NIKE Inc. Class B  1,081,640  71,464 
  Johnson Controls Inc.  1,957,931  53,334 
  Staples Inc.  2,105,400  51,772 
*  Starbucks Corp.  2,148,466  49,544 
  Yum! Brands Inc.  1,359,960  47,558 
*  Kohl’s Corp.  845,617  45,604 
  TJX Cos. Inc.  1,235,496  45,157 
  Best Buy Co. Inc.  1,031,609  40,707 
  Omnicom Group Inc.  905,847  35,464 
  Coach Inc.  927,174  33,870 
  McGraw-Hill Cos. Inc.  917,577  30,748 
*  Bed Bath & Beyond Inc.  763,362  29,489 
*  priceline.com Inc.  117,052  25,576 
  Marriott International Inc.     
  Class A  881,667  24,025 
*  Apollo Group Inc. Class A  379,632  22,998 
  Cablevision Systems Corp.     
  Class A  718,684  18,556 
  Nordstrom Inc.  473,128  17,780 
  Sherwin-Williams Co.  288,147  17,764 
*  Viacom Inc. Class B  560,884  16,675 
  International Game     
  Technology  863,720  16,212 
  Ross Stores Inc.  369,178  15,768 
*  CarMax Inc.  641,706  15,561 
  Tiffany & Co.  361,404  15,540 
*  O’Reilly Automotive Inc.  398,671  15,197 
  Gap Inc.  710,377  14,882 
*  AutoZone Inc.  93,927  14,847 
*  Expedia Inc.  574,279  14,765 
*  Las Vegas Sands Corp.  961,700  14,368 
  Polo Ralph Lauren Corp.     
  Class A  165,520  13,404 
*  Urban Outfitters Inc.  367,509  12,859 
*  Dollar Tree Inc.  260,649  12,589 
  Wynn Resorts Ltd.  215,204  12,531 
*  Discovery     
  Communications Inc.     
  Class A  392,120  12,026 
  BorgWarner Inc.  339,832  11,289 
  Advance Auto Parts Inc.  278,052  11,256 
  Scripps Networks     
  Interactive Inc. Class A  262,880  10,910 
*  Discovery     
  Communications Inc.  409,898  10,870 
  Family Dollar Stores Inc.  386,992  10,770 
^  Garmin Ltd.  350,332  10,755 
  DeVry Inc.  186,764  10,595 
*  ITT Educational     
  Services Inc.  109,950  10,551 
  News Corp. Class B  639,555  10,182 
*  GameStop Corp. Class A  456,052  10,006 
  PetSmart Inc.  364,246  9,722 
*  NVR Inc.  13,558  9,636 
*  Liberty Global Inc.  433,398  9,470 
  Virgin Media Inc.  529,282  8,908 
^  Strayer Education Inc.  40,746  8,658 
  JC Penney Co. Inc.  308,970  8,222 
*  Chipotle Mexican Grill Inc.     
  Class A  92,240  8,132 
*,^  NetFlix Inc.  142,064  7,833 
*  LKQ Corp.  368,919  7,227 
*  MGM Mirage  770,817  7,030 
  Guess? Inc.  160,759  6,800 
  Harman International     
  Industries Inc.  191,764  6,765 
*  Liberty Global Inc. Class A  297,237  6,512 
  Pulte Homes Inc.  649,500  6,495 
*  Goodyear Tire &     
  Rubber Co.  434,954  6,133 
  Burger King Holdings Inc.  275,119  5,178 
  WABCO Holdings Inc.  186,754  4,816 

17


Growth Index Fund

      Market 
      Value• 
    Shares  ($000) 
*,^  Sears Holdings Corp.  56,871  4,746 
  DR Horton Inc.  415,465  4,516 
*  Lamar Advertising Co.     
  Class A  137,927  4,288 
*  Toll Brothers Inc.  199,337  3,750 
*  Interpublic Group     
  of Cos. Inc.  494,727  3,651 
*  Penn National Gaming Inc.  97,464  2,649 
  Wendy’s/Arby’s Group Inc.     
  Class A  409,399  1,920 
*  Clear Channel Outdoor     
  Holdings Inc. Class A  118,725  1,234 
*  Marvel Entertainment Inc.  250  14 
*  Krispy Kreme     
  Doughnuts Inc.     
  Warrants Exp. 3/2/12  3,500  — 
      1,846,564 
Consumer Staples (11.3%)     
  Wal-Mart Stores Inc.  6,814,275  364,223 
  PepsiCo Inc.  4,540,954  276,090 
  Philip Morris     
  International Inc.  5,638,190  271,704 
  Coca-Cola Co.  2,127,706  121,279 
  Colgate-Palmolive Co.  1,452,728  119,342 
  Walgreen Co.  2,892,432  106,210 
  CVS Caremark Corp.  2,734,226  88,069 
  Costco Wholesale Corp.  1,267,572  75,002 
  General Mills Inc.  616,745  43,672 
  Kellogg Co.  781,186  41,559 
  Avon Products Inc.  1,244,516  39,202 
  Kimberly-Clark Corp.  422,858  26,940 
  Clorox Co.  406,212  24,779 
  HJ Heinz Co.  459,417  19,645 
  Lorillard Inc.  240,738  19,314 
  Coca-Cola Enterprises Inc.  853,425  18,093 
  Estee Lauder Cos. Inc.     
  Class A  328,293  15,876 
  Campbell Soup Co.  398,277  13,462 
  Mead Johnson     
  Nutrition Co. Class A  297,883  13,018 
*  Energizer Holdings Inc.  192,075  11,770 
*  Whole Foods Market Inc.  409,179  11,232 
  Hershey Co.  299,319  10,713 
  Dr Pepper Snapple     
  Group Inc.  370,313  10,480 
*  Dean Foods Co.  525,598  9,482 
*  Hansen Natural Corp.  224,627  8,626 
  Flowers Foods Inc.  240,989  5,726 
  Hormel Foods Corp.  75,188  2,891 
      1,768,399 
Energy (7.5%)     
  Schlumberger Ltd.  3,491,194  227,242 
  Anadarko Petroleum Corp.  1,429,708  89,242 
  EOG Resources Inc.  734,345  71,452 
  Occidental Petroleum Corp.  827,120  67,286 
  National Oilwell Varco Inc.  1,218,950  53,743 

      Market 
      Value• 
    Shares  ($000) 
  Halliburton Co.  1,708,331  51,404 
*  Southwestern Energy Co.  1,004,088  48,397 
*  Weatherford     
  International Ltd.  2,119,652  37,963 
  Baker Hughes Inc.  903,299  36,565 
  Noble Energy Inc.  505,399  35,994 
  Peabody Energy Corp.  780,208  35,273 
  Hess Corp.  557,708  33,741 
*  Cameron     
  International Corp.  712,409  29,779 
  Consol Energy Inc.  526,701  26,230 
  XTO Energy Inc.  562,354  26,166 
  Range Resources Corp.  458,431  22,853 
*  Ultra Petroleum Corp.  441,461  22,011 
*  Petrohawk Energy Corp.  876,863  21,036 
*  FMC Technologies Inc.  356,998  20,649 
  Diamond Offshore     
  Drilling Inc.  202,600  19,940 
  Smith International Inc.  721,242  19,596 
  Murphy Oil Corp.  343,457  18,615 
  Noble Corp.  380,938  15,504 
*  Alpha Natural     
  Resources Inc.  349,313  15,153 
  Helmerich & Payne Inc.  307,222  12,252 
  EXCO Resources Inc.  522,843  11,100 
*  Plains Exploration &     
  Production Co.  399,104  11,039 
*  Denbury Resources Inc.  727,199  10,763 
  Massey Energy Co.  248,892  10,456 
*  Oceaneering     
  International Inc.  159,972  9,362 
  Cabot Oil & Gas Corp.  196,137  8,550 
*  Concho Resources Inc.  186,986  8,396 
  BJ Services Co.  425,312  7,911 
*  Dresser-Rand Group Inc.  240,272  7,595 
*  Quicksilver Resources Inc.  344,891  5,177 
  Patterson-UTI Energy Inc.  290,647  4,461 
*  Continental Resources Inc. 98,954  4,244 
*  Rowan Cos. Inc.  165,470  3,746 
  Tesoro Corp.  203,747  2,761 
*  SandRidge Energy Inc.  292,339  2,757 
*  CNX Gas Corp.  88,103  2,601 
*  Cobalt International     
  Energy Inc.  157,790  2,184 
      1,171,189 
Financials (5.9%)     
  American Express Co.  3,119,501  126,402 
*  Berkshire Hathaway Inc.     
  Class B  32,430  106,565 
  US Bancorp  3,622,307  81,538 
  Citigroup Inc.  21,624,623  71,578 
  CME Group Inc.  174,253  58,540 
  Charles Schwab Corp.  2,876,002  54,126 
  Capital One     
  Financial Corp.  1,326,125  50,844 
  Franklin Resources Inc.  469,978  49,512 

18


Growth Index Fund

      Market 
      Value• 
    Shares  ($000) 
  State Street Corp.  936,851  40,791 
  T Rowe Price Group Inc.  746,524  39,752 
  Northern Trust Corp.  633,278  33,184 
  Simon Property Group Inc.  290,801  23,206 
  Host Hotels & Resorts Inc.  1,810,636 21,130 
*  Intercontinental-     
  Exchange Inc.  181,311  20,361 
  Moody’s Corp.  585,519  15,692 
  BlackRock Inc.  66,760  15,502 
*  TD Ameritrade     
  Holding Corp.  768,530  14,894 
  Public Storage  129,723  10,566 
  SunTrust Banks Inc.  508,513  10,318 
  Eaton Vance Corp.  323,273  9,831 
*  CB Richard Ellis Group Inc.     
  Class A  708,523  9,615 
*  Affiliated Managers     
  Group Inc.  121,512  8,184 
*  St Joe Co.  269,438  7,784 
*  Jefferies Group Inc.  301,860  7,163 
  Janus Capital Group Inc.  531,001  7,142 
  SEI Investments Co.  389,439  6,823 
  Regions Financial Corp.  1,211,056  6,406 
  Brown & Brown Inc.  350,027  6,290 
  Greenhill & Co. Inc.  65,882  5,286 
  Digital Realty Trust Inc.  73,691  3,705 
*,^  American International     
  Group Inc.  123,385  3,699 
*  NASDAQ OMX Group Inc.  145,013  2,874 
  TFS Financial Corp.  134,525  1,633 
      930,936 
Health Care (13.8%)     
  Johnson & Johnson  4,016,073  258,675 
  Abbott Laboratories  4,505,732  243,265 
*  Amgen Inc.  2,959,727  167,432 
  Medtronic Inc.  3,234,683  142,261 
*  Gilead Sciences Inc.  2,635,584  114,068 
  Baxter International Inc.  1,756,713  103,084 
*  Medco Health     
  Solutions Inc.  1,380,786  88,246 
*  Celgene Corp.  1,336,743  74,430 
*  Express Scripts Inc.  759,886  65,692 
  Allergan Inc.  886,322  55,847 
  Becton Dickinson and Co.  697,768  55,026 
  McKesson Corp.  775,783  48,487 
*  Biogen Idec Inc.  841,980  45,046 
  Stryker Corp.  869,069  43,775 
*  Genzyme Corp.  787,941  38,617 
*  St. Jude Medical Inc.  1,014,321  37,307 
*  Zimmer Holdings Inc.  624,686  36,925 
*  Intuitive Surgical Inc.  110,574  33,539 
  Quest Diagnostics Inc.  460,257  27,790 
*  Life Technologies Corp.  514,009  26,847 
*  Hospira Inc.  469,618  23,951 
*  Laboratory Corp. of     
  CR Bard Inc.  284,585  22,169 
*  DaVita Inc.  303,184  17,809 
*  Waters Corp.  278,451  17,253 
*  Varian Medical     
  Systems Inc.  365,950  17,145 
*  Cerner Corp.  200,815  16,555 
*  Mylan Inc.  890,086  16,404 
*  Vertex     
  Pharmaceuticals Inc.  364,555  15,621 
  DENTSPLY     
  International Inc.  411,199  14,462 
*  Edwards     
  Lifesciences Corp.  164,376  14,276 
*  Henry Schein Inc.  262,944  13,831 
*  Cephalon Inc.  217,445  13,571 
  Beckman Coulter Inc.  199,821  13,076 
*  Alexion     
  Pharmaceuticals Inc.  256,193  12,507 
*  Millipore Corp.  161,806  11,707 
*  Watson     
  Pharmaceuticals Inc.  292,612  11,590 
*  ResMed Inc.  220,028  11,501 
  IMS Health Inc.  531,272  11,189 
*  Illumina Inc.  361,600  11,083 
*  Hologic Inc.  748,139  10,848 
*  Mettler-Toledo     
  International Inc.  98,175  10,308 
*  Covance Inc.  186,534  10,179 
*  Community Health     
  Systems Inc.  270,400  9,626 
*  Warner Chilcott PLC     
  Class A  329,869  9,391 
*  IDEXX Laboratories Inc.  170,903  9,133 
  Perrigo Co.  228,616  9,108 
*  Patterson Cos. Inc.  267,081  7,473 
*  Lincare Holdings Inc.  197,908  7,346 
*  Myriad Genetics Inc.  279,185  7,287 
  Techne Corp.  102,995  7,061 
*  CareFusion Corp.  262,390  6,562 
*  Gen-Probe Inc.  146,517  6,286 
*  Kinetic Concepts Inc.  155,193  5,843 
*  Amylin     
  Pharmaceuticals Inc.  411,644  5,841 
*  Dendreon Corp.  190,738  5,013 
  Pharmaceutical Product     
  Development Inc.  201,211  4,716 
*  Inverness Medical     
  Innovations Inc.  111,186  4,615 
*  Endo Pharmaceuticals     
  Holdings Inc.  221,639  4,546 
*  Abraxis Bioscience Inc.  23,536  954 
      2,157,824 
Industrials (8.0%)     
  Boeing Co.  2,011,441  108,879 
  Caterpillar Inc.  1,810,894  103,203 
  Union Pacific Corp.  1,469,943  93,929 

19


Growth Index Fund

      Market 
      Value• 
    Shares  ($000) 
  United Parcel Service Inc.     
  Class B  1,330,512  76,331 
  Danaher Corp.  792,155  59,570 
  FedEx Corp.  562,291  46,923 
  Precision Castparts Corp.  408,725  45,103 
  PACCAR Inc.  1,006,079  36,491 
  Deere & Co.  616,437  33,343 
  CH Robinson     
  Worldwide Inc.  490,457  28,805 
  Honeywell     
  International Inc.  728,894  28,573 
*  Delta Air Lines Inc.  2,266,721  25,795 
  Rockwell Collins Inc.  459,502  25,438 
  Parker Hannifin Corp.  467,895  25,210 
  ITT Corp.  505,089  25,123 
  Lockheed Martin Corp.  333,300  25,114 
  Southwest Airlines Co.  2,161,145  24,702 
  Fluor Corp.  524,292  23,614 
  Expeditors International     
  of Washington Inc.  618,411  21,477 
*,^  First Solar Inc.  135,717  18,376 
  WW Grainger Inc.  182,430  17,665 
^  Fastenal Co.  389,664  16,226 
*  McDermott     
  International Inc.  670,233  16,092 
  Flowserve Corp.  163,076  15,416 
  Joy Global Inc.  297,854  15,366 
  Roper Industries Inc.  264,548  13,854 
*  Jacobs Engineering     
  Group Inc.  360,908  13,574 
*  Stericycle Inc.  235,388  12,986 
  Dun & Bradstreet Corp.  153,874  12,982 
  Cummins Inc.  279,509  12,818 
  Bucyrus International Inc.     
  Class A  218,806  12,334 
*  Iron Mountain Inc.  531,920  12,107 
*  Quanta Services Inc.  575,768  11,999 
  AMETEK Inc.  313,214  11,977 
  Robert Half     
  International Inc.  420,208  11,232 
*  Foster Wheeler AG  368,303  10,843 
*  Kansas City Southern  279,592  9,308 
  Donaldson Co. Inc.  213,567  9,085 
*  AGCO Corp.  269,249  8,708 
*  Alliant Techsystems Inc.  95,924  8,467 
  JB Hunt Transport     
  Services Inc.  258,857  8,353 
  Goodrich Corp.  126,426  8,123 
*  IHS Inc. Class A  147,231  8,070 
*  Verisk Analytics Inc.     
  Class A  263,766  7,987 
*  Copart Inc.  208,515  7,638 
*  AMR Corp.  957,139  7,399 
*  Navistar International Corp.  184,515  7,132 
*  FTI Consulting Inc.  150,605  7,103 
*  Aecom Technology Corp.  256,937  7,066 
*  Shaw Group Inc.  243,318  6,995 
*  Covanta Holding Corp.  360,944  6,529 
  Manpower Inc.  114,045  6,225 
  Pall Corp.  171,670  6,214 
  MSC Industrial Direct Co.     
  Class A  128,679  6,048 
*  Hertz Global Holdings Inc.  348,463  4,154 
*  Terex Corp.  204,290  4,047 
*  Spirit Aerosystems     
  Holdings Inc. Class A  198,030  3,933 
  SPX Corp.  71,446  3,908 
*,^  SunPower Corp. Class A  159,041  3,766 
*  SunPower Corp. Class B  122,732  2,571 
      1,252,299 
Information Technology (36.1%)   
  Microsoft Corp.  23,373,890  712,670 
*  Apple Inc.  2,610,939  550,543 
  International Business     
  Machines Corp.  3,820,725  500,133 
*  Google Inc. Class A  705,250  437,241 
*  Cisco Systems Inc.  16,811,085  402,457 
  Hewlett-Packard Co.  6,954,992  358,252 
  Oracle Corp.  11,693,587  286,961 
  QUALCOMM Inc.  4,845,030  224,131 
  Visa Inc. Class A  1,341,183  117,300 
  Intel Corp.  5,710,633  116,497 
*  EMC Corp.  5,893,593  102,961 
*  eBay Inc.  3,196,983  75,257 
  Accenture PLC Class A  1,790,373  74,300 
  Mastercard Inc. Class A  287,719  73,650 
*  Dell Inc.  5,125,646  73,604 
*  Yahoo! Inc.  3,885,957  65,206 
  Automatic Data     
  Processing Inc.  1,463,684  62,675 
  Texas Instruments Inc.  2,389,887  62,280 
*  Adobe Systems Inc.  1,530,285  56,284 
  Applied Materials Inc.  3,885,392  54,162 
  Motorola Inc.  6,690,237  51,916 
  Corning Inc.  2,265,607  43,749 
*  Symantec Corp.  2,374,101  42,473 
*  Juniper Networks Inc.  1,527,960  40,751 
*  Broadcom Corp. Class A  1,270,520  39,958 
*  Cognizant Technology     
  Solutions Corp. Class A  854,628  38,715 
  Western Union Co.  2,044,849  38,545 
*  NetApp Inc.  980,009  33,702 
  Tyco Electronics Ltd.  1,337,043  32,824 
*  Marvell Technology     
  Group Ltd.  1,533,936  31,829 
*  Agilent Technologies Inc.  1,000,816  31,095 
*  NVIDIA Corp.  1,596,726  29,827 
  Paychex Inc.  947,315  29,026 
*  Western Digital Corp.  654,925  28,915 
*  Intuit Inc.  894,618  27,474 
  CA Inc.  1,221,430  27,433 
*  Salesforce.com Inc.  325,358  24,002 

20


Growth Index Fund

      Market 
      Value• 
    Shares  ($000) 
  Amphenol Corp. Class A  499,696  23,076 
*  Fiserv Inc.  450,036  21,818 
*  BMC Software Inc.  536,326  21,507 
*  Sun Microsystems Inc.  2,196,002  20,576 
  Linear Technology Corp.  648,006  19,790 
  Altera Corp.  857,586  19,407 
*  SanDisk Corp.  661,840  19,187 
*  McAfee Inc.  458,234  18,591 
*  Activision Blizzard Inc.  1,667,882  18,530 
  Maxim Integrated     
  Products Inc.  892,258  18,113 
  KLA-Tencor Corp.  497,559  17,992 
  Analog Devices Inc.  552,463  17,447 
*  Autodesk Inc.  669,640  17,016 
*  Micron Technology Inc.  1,604,476  16,943 
*  Red Hat Inc.  547,675  16,923 
*  Electronic Arts Inc.  943,109  16,740 
*  Advanced Micro     
  Devices Inc.  1,652,894  16,000 
*  Cree Inc.  281,422  15,864 
*  Teradata Corp.  500,432  15,729 
*  Lam Research Corp.  368,870  14,463 
*  FLIR Systems Inc.  441,212  14,436 
*  Citrix Systems Inc.  346,579  14,421 
*  VeriSign Inc.  561,804  13,618 
*  Akamai Technologies Inc.  502,085  12,718 
  Global Payments Inc.  234,968  12,655 
*  F5 Networks Inc.  229,394  12,153 
*  Equinix Inc.  112,600  11,952 
  Harris Corp.  250,904  11,930 
  Lender Processing     
  Services Inc.  280,023  11,386 
*  ANSYS Inc.  256,579  11,151 
  National     
  Semiconductor Corp.  689,076  10,584 
*  Hewitt Associates Inc.     
  Class A  244,244  10,322 
*  ON Semiconductor Corp.  1,168,982  10,299 
*  Sybase Inc.  235,957  10,240 
*  Alliance Data     
  Systems Corp.  154,800  9,998 
*  Synopsys Inc.  420,728  9,374 
  Broadridge Financial     
  Solutions Inc.  406,100  9,162 
*  Nuance     
  Communications Inc.  587,626  9,132 
*  MEMC Electronic     
  Materials Inc.  651,073  8,868 
*  Brocade Communications     
  Systems Inc.  1,160,016  8,851 
*  Trimble Navigation Ltd.  349,327  8,803 
  Factset Research     
  Systems Inc.  130,491  8,595 
*  Dolby Laboratories Inc.     
  Class A  154,699  7,384 
*  Novellus Systems Inc.  284,137  6,632 
*  VMware Inc. Class A  154,309  6,540 
*  Flextronics     
  International Ltd.  826,592  6,042 
*  DST Systems Inc.  115,755  5,041 
*  Cadence Design     
  Systems Inc.  775,394  4,645 
*  LSI Corp.  664,359  3,993 
*  NCR Corp.  301,337  3,354 
*  Avago Technologies Ltd.  136,994  2,506 
      5,651,295 
Materials (4.5%)     
  Monsanto Co.  1,591,195  130,080 
*  Freeport-McMoRan     
  Copper & Gold Inc.  1,200,275  96,370 
  Praxair Inc.  894,303  71,822 
  Newmont Mining Corp.  1,398,219  66,150 
  Dow Chemical Co.  1,666,666  46,050 
  Alcoa Inc.  2,840,042  45,782 
  Ecolab Inc.  690,325  30,775 
  Weyerhaeuser Co.  616,140  26,580 
  United States Steel Corp.  417,793  23,029 
  Sigma-Aldrich Corp.  355,037  17,940 
  Mosaic Co.  294,811  17,609 
  Air Products &     
  Chemicals Inc.  214,209  17,364 
  International Paper Co.  599,252  16,048 
  Celanese Corp. Class A  418,205  13,424 
*  Crown Holdings Inc.  466,423  11,931 
  Walter Energy Inc.  154,271  11,618 
  Martin Marietta     
  Materials Inc.  129,765  11,602 
  Nalco Holding Co.  402,819  10,276 
  Terra Industries Inc.  290,652  9,356 
*  Pactiv Corp.  384,769  9,288 
  AK Steel Holding Corp.  318,993  6,811 
  Steel Dynamics Inc.  366,550  6,495 
  Scotts Miracle-Gro Co.     
  Class A  133,965  5,266 
  FMC Corp.  70,158  3,912 
  Reliance Steel &     
  Aluminum Co.  67,536  2,919 
  Commercial Metals Co.  115,010  1,800 
*  Titanium Metals Corp.  119,956  1,502 
      711,799 
Telecommunication Services (0.8%)   
*  American Tower Corp.     
  Class A  1,150,250  49,702 
*  Crown Castle     
  International Corp.  848,477  33,124 
*  NII Holdings Inc.  484,130  16,257 
*  SBA Communications Corp.   
  Class A  305,842  10,448 
*  MetroPCS     
  Communications Inc.  717,544  5,475 

21


Growth Index Fund

      Market 
      Value• 
    Shares  ($000) 
*  Level 3     
  Communications Inc.  2,376,231  3,636 
      118,642 
Utilities (0.3%)     
*  AES Corp.  1,944,235  25,878 
  EQT Corp.  362,303  15,912 
*  Calpine Corp.  1,030,245  11,333 
*  Dynegy Inc. Class A  516,087  934 
      54,057 
Total Common Stocks     
(Cost $13,488,153)    15,663,004 
Temporary Cash Investment (0.4%)   
Money Market Fund (0.4%)     
1,2  Vanguard Market     
  Liquidity Fund, 0.187%     
  (Cost $64,983)  64,982,874  64,983 
Total Investments (100.4%)     
(Cost $13,553,136)    15,727,987 
Other Assets and Liabilities (-0.4%)   
Other Assets    50,906 
Liabilities2    (109,240) 
      (58,334) 
Net Assets (100%)    15,669,653 
 
 
At December 31, 2009, net assets consisted of: 
      Amount 
      ($000) 
Paid-in Capital    16,010,828 
Overdistributed Net Investment Income  (26,407) 
Accumulated Net Realized Losses  (2,489,619) 
Unrealized Appreciation (Depreciation)  2,174,851 
Net Assets    15,669,653 
 
 
Investor Shares—Net Assets     
Applicable to 211,209,044 outstanding   
$.001 par value shares of beneficial   
interest (unlimited authorization)  5,770,454 
Net Asset Value Per Share—     
Investor Shares    $27.32 

  Amount 
  ($000) 
Admiral Shares—Net Assets   
Applicable to 60,070,869 outstanding   
$.001 par value shares of beneficial   
interest (unlimited authorization)  1,641,281 
Net Asset Value Per Share—   
Admiral Shares  $27.32 
 
 
Signal Shares—Net Assets   
Applicable to 56,449,320 outstanding   
$.001 par value shares of beneficial   
interest (unlimited authorization)  1,428,262 
Net Asset Value Per Share—   
Signal Shares  $25.30 
 
 
Institutional Shares—Net Assets   
Applicable to 106,614,633 outstanding   
$.001 par value shares of beneficial   
interest (unlimited authorization)  2,913,076 
Net Asset Value Per Share—   
Institutional Shares  $27.32 
 
 
ETF Shares—Net Assets   
Applicable to 73,784,366 outstanding   
$.001 par value shares of beneficial   
interest (unlimited authorization)  3,916,580 
Net Asset Value Per Share—   
ETF Shares  $53.08 

• 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 $44,731,000.
1 Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by Vanguard. Rate shown is the
7-day yield.
2 Includes $46,788,000 of collateral received for securities on loan.
See accompanying Notes, which are an integral part of the Financial Statements.
22


Growth Index Fund

Statement of Operations

  Year Ended 
  December 31, 2009 
  ($000) 
Investment Income   
Income   
Dividends  189,925 
Interest1  77 
Security Lending  1,444 
Total Income  191,446 
Expenses   
The Vanguard Group—Note B   
Investment Advisory Services  514 
Management and Administrative—Investor Shares  11,280 
Management and Administrative—Admiral Shares  1,509 
Management and Administrative—Signal Shares  1,097 
Management and Administrative—Institutional Shares  957 
Management and Administrative—ETF Shares  2,894 
Marketing and Distribution—Investor Shares  1,148 
Marketing and Distribution—Admiral Shares  299 
Marketing and Distribution—Signal Shares  305 
Marketing and Distribution—Institutional Shares  680 
Marketing and Distribution—ETF Shares  949 
Custodian Fees  271 
Auditing Fees  25 
Shareholders’ Reports and Proxies—Investor Shares  660 
Shareholders’ Reports and Proxies—Admiral Shares  19 
Shareholders’ Reports and Proxies—Signal Shares  19 
Shareholders’ Reports and Proxies—Institutional Shares  54 
Shareholders’ Reports and Proxies—ETF Shares  320 
Trustees’ Fees and Expenses  26 
Total Expenses  23,026 
Net Investment Income  168,420 
Realized Net Gain (Loss) on Investment Securities Sold  199,009 
Change in Unrealized Appreciation (Depreciation) of Investment Securities  3,794,205 
Net Increase (Decrease) in Net Assets Resulting from Operations  4,161,634 
1 Interest income from an affiliated company of the fund was $77,000.   

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

23


Growth 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  168,420  152,815 
Realized Net Gain (Loss)  199,009  (511,130) 
Change in Unrealized Appreciation (Depreciation)  3,794,205  (6,513,214) 
Net Increase (Decrease) in Net Assets Resulting from Operations  4,161,634  (6,871,529) 
Distributions     
Net Investment Income     
Investor Shares  (59,216)  (55,275) 
Admiral Shares  (19,327)  (19,516) 
Signal Shares  (15,471)  (13,528) 
Institutional Shares  (34,330)  (30,079) 
ETF Shares  (44,628)  (36,000) 
Realized Capital Gain     
Investor Shares  —  — 
Admiral Shares  —  — 
Signal Shares  —  — 
Institutional Shares  —  — 
ETF Shares  —  — 
Total Distributions  (172,972)  (154,398) 
Capital Share Transactions     
Investor Shares  4,289  21,388 
Admiral Shares  (86,171)  (40,052) 
Signal Shares  150,783  113,345 
Institutional Shares  167,646  91,254 
ETF Shares  176,302  1,045,987 
Net Increase (Decrease) from Capital Share Transactions  412,849  1,231,922 
Total Increase (Decrease)  4,401,511  (5,794,005) 
Net Assets     
Beginning of Period  11,268,142  17,062,147 
End of Period1  15,669,653  11,268,142 
1 Net Assets—End of Period includes undistributed (overdistributed) net investment income of ($26,407,000) and ($21,855,000). 

See accompanying Notes, which are an integral part of the Financial Statements.
24


Growth Index Fund

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  $20.29  $33.23  $29.77  $27.54  $26.41 
Investment Operations           
Net Investment Income  .276  .261  .270  .241  .196 
Net Realized and Unrealized Gain (Loss)           
on Investments  7.035  (12.939)  3.460  2.228  1.139 
Total from Investment Operations  7.311  (12.678)  3.730  2.469  1.335 
Distributions           
Dividends from Net Investment Income  (.281)  (.262)  (.270)  (.239)  (.205) 
Distributions from Realized Capital Gains  —  —  —  —  — 
Total Distributions  (.281)  (.262)  (.270)  (.239)  (.205) 
Net Asset Value, End of Period  $27.32  $20.29  $33.23  $29.77  $27.54 
 
Total Return1  36.29%  -38.32%  12.56%  9.01%  5.09% 
 
Ratios/Supplemental Data           
Net Assets, End of Period (Millions)  $5,770  $4,279  $6,992  $6,707  $6,761 
Ratio of Total Expenses to           
Average Net Assets  0.28%  0.23%  0.22%  0.22%  0.22% 
Ratio of Net Investment Income to           
Average Net Assets  1.20%  0.93%  0.83%  0.86%  0.75% 
Portfolio Turnover Rate2  29%  27%  23%  28%  23% 

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,
including ETF Creation Units.

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

25


Growth Index Fund

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  $20.30  $33.23  $29.77  $27.54  $26.41 
Investment Operations           
Net Investment Income  .308  .294  .308  .272  .226 
Net Realized and Unrealized Gain (Loss)           
on Investments  7.027  (12.929)  3.460  2.228  1.139 
Total from Investment Operations  7.335  (12.635)  3.768  2.500  1.365 
Distributions           
Dividends from Net Investment Income  (.315)  (.295)  (.308)  (.270)  (.235) 
Distributions from Realized Capital Gains  —  —  —  —  — 
Total Distributions  (.315)  (.295)  (.308)  (.270)  (.235) 
Net Asset Value, End of Period  $27.32  $20.30  $33.23  $29.77  $27.54 
 
Total Return  36.42%  -38.22%  12.70%  9.13%  5.21% 
 
Ratios/Supplemental Data           
Net Assets, End of Period (Millions)  $1,641  $1,296  $2,203  $2,505  $2,076 
Ratio of Total Expenses to           
Average Net Assets  0.14%  0.11%  0.10%  0.11%  0.11% 
Ratio of Net Investment Income to           
Average Net Assets  1.34%  1.05%  0.95%  0.97%  0.86% 
Portfolio Turnover Rate1  29%  27%  23%  28%  23% 

1 Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares,
including ETF Creation Units.

See accompanying Notes, which are an integral part of the Financial Statements.
26


Growth Index Fund

Financial Highlights

Signal Shares       
      June 4, 
  Year Ended  20071 to 
  December 31,  Dec. 31, 
For a Share Outstanding Throughout Each Period  2009  2008  2007 
Net Asset Value, Beginning of Period  $18.80  $30.77  $30.26 
Investment Operations       
Net Investment Income  .286  .273  .168 
Net Realized and Unrealized Gain (Loss) on Investments  6.507  (11.970)  .563 
Total from Investment Operations  6.793  (11.697)  .731 
Distributions       
Dividends from Net Investment Income  (.293)  (.273)  (.221) 
Distributions from Realized Capital Gains  —  —  — 
Total Distributions  (.293)  (.273)  (.221) 
Net Asset Value, End of Period  $25.30  $18.80  $30.77 
 
Total Return  36.42%  -38.21%  2.43% 
 
Ratios/Supplemental Data       
Net Assets, End of Period (Millions)  $1,428  $941  $1,425 
Ratio of Total Expenses to Average Net Assets  0.14%  0.11%  0.10%2 
Ratio of Net Investment Income to Average Net Assets  1.34%  1.05%  0.95%2 
Portfolio Turnover Rate3  29%  27%  23% 

1 Inception.
2 Annualized.
3 Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares,
including ETF Creation Units.

See accompanying Notes, which are an integral part of the Financial Statements.
27


Growth Index Fund

Financial Highlights

Institutional Shares           
 
For a Share Outstanding  Year Ended December 31, 
Throughout Each Period  2009  2008  2007  2006  2005 
Net Asset Value, Beginning of Period  $20.30  $33.23  $29.77  $27.54  $26.41 
Investment Operations           
Net Investment Income  .322  .305  .318  .280  .234 
Net Realized and Unrealized Gain (Loss)           
on Investments  7.027  (12.930)  3.460  2.228  1.139 
Total from Investment Operations  7.349  (12.625)  3.778  2.508  1.373 
Distributions           
Dividends from Net Investment Income  (.329)  (.305)  (.318)  (.278)  (.243) 
Distributions from Realized Capital Gains  —  —  —  —  — 
Total Distributions  (.329)  (.305)  (.318)  (.278)  (.243) 
Net Asset Value, End of Period  $27.32  $20.30  $33.23  $29.77  $27.54 
 
Total Return  36.50%  -38.19%  12.73%  9.16%  5.24% 
 
Ratios/Supplemental Data           
Net Assets, End of Period (Millions)  $2,913  $2,016  $3,210  $2,132  $1,448 
Ratio of Total Expenses to           
Average Net Assets  0.08%  0.07%  0.07%  0.08%  0.08% 
Ratio of Net Investment Income to           
Average Net Assets  1.40%  1.09%  0.98%  1.00%  0.89% 
Portfolio Turnover Rate1  29%  27%  23%  28%  23% 

1 Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares,
including ETF Creation Units.

See accompanying Notes, which are an integral part of the Financial Statements.
28


Growth Index Fund

Financial Highlights

ETF Shares           
 
For a Share Outstanding  Year Ended December 31, 
Throughout Each Period  2009  2008  2007  2006  2005 
Net Asset Value, Beginning of Period  $39.43  $64.56  $57.85  $53.52  $51.33 
Investment Operations           
Net Investment Income  .598  .579  .600  .535  .444 
Net Realized and Unrealized Gain (Loss)           
on Investments  13.666  (25.132)  6.710  4.323  2.206 
Total from Investment Operations  14.264  (24.553)  7.310  4.858  2.650 
Distributions           
Dividends from Net Investment Income  (.614)  (.577)  (.600)  (.528)  (.460) 
Distributions from Realized Capital Gains  —  —  —  —  — 
Total Distributions  (.614)  (.577)  (.600)  (.528)  (.460) 
Net Asset Value, End of Period  $53.08  $39.43  $64.56  $57.85  $53.52 
 
Total Return  36.46%  -38.22%  12.68%  9.13%  5.20% 
 
Ratios/Supplemental Data           
Net Assets, End of Period (Millions)  $3,917  $2,736  $3,232  $1,336  $324 
Ratio of Total Expenses to           
Average Net Assets  0.14%  0.10%  0.10%  0.11%  0.11% 
Ratio of Net Investment Income to           
Average Net Assets  1.34%  1.06%  0.95%  0.97%  0.86% 
Portfolio Turnover Rate1  29%  27%  23%  28%  23% 

1 Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares,
including ETF Creation Units.

See accompanying Notes, which are an integral part of the Financial Statements.
29


Growth Index Fund

Notes to Financial Statements

Vanguard Growth Index Fund is registered under the Investment Company Act of 1940 as an openend investment company, or mutual fund. The fund offers five classes of shares: Investor Shares, Admiral Shares, Signal Shares, Institutional Shares, and ETF Shares. Investor Shares are available to any investor who meets the fund’s minimum purchase requirements. Admiral Shares are designed for investors who meet certain administrative, service, tenure, and account-size criteria. Signal Shares are designed for institutional investors who meet certain administrative, service, and account-size criteria. Institutional Shares are designed for investors who meet certain administrative and service criteria and invest a minimum amount of $5 million. ETF Shares are listed for trading on the NYSE Arca, Inc.; they can be purchased and sold through a broker.

A. The following significant accounting policies conform to generally accepted accounting principles for U.S. mutual funds. The fund consistently follows such policies in preparing its financial statements.

1. Security Valuation: Securities are valued as of the close of trading on the New York Stock Exchange (generally 4 p.m., Eastern time) on the valuation date. Equity securities are valued at the latest quoted sales prices or official closing prices taken from the primary market in which each security trades; such securities not traded on the valuation date are valued at the mean of the latest quoted bid and asked prices. Securities for which market quotations are not readily available, or whose values have been materially affected by events occurring before the fund’s pricing time but after the close of the securities’ primary markets, are valued by methods deemed by the board of trustees to represent fair value. Investments in Vanguard Market Liquidity Fund are valued at that fund’s net asset value.

2. Federal Income Taxes: The fund intends to continue to qualify as a regulated investment company and distribute all of its taxable income. Management has analyzed the fund’s tax positions taken for all open federal income tax years (December 31, 2006–2009), and has concluded that no provision for federal income tax is required in the fund’s financial statements.

3. Distributions: Distributions to shareholders are recorded on the ex-dividend date.

4. Security Lending: The fund may lend its securities to qualified institutional borrowers to earn additional income. Security loans are required to be secured at all times by collateral at least equal to the market value of securities loaned. The fund invests cash collateral received in Vanguard Market Liquidity Fund, and records a liability for the return of the collateral, during the period the securities are on loan. Security lending income represents the income earned on investing cash collateral, less expenses associated with the loan.

5. Other: Dividend income is recorded on the ex-dividend date. Interest income includes income distributions received from Vanguard Market Liquidity Fund and is accrued daily. Security transactions are accounted for on the date securities are bought or sold. Costs used to determine realized gains (losses) on the sale of investment securities are those of the specific securities sold.

Each class of shares has equal rights as to assets and earnings, except that each class separately bears certain class-specific expenses related to maintenance of shareholder accounts (included in Management and Administrative expenses), shareholder reporting, and proxies. Marketing and distribution expenses are allocated to each class of shares based on a method approved by the board of trustees. Income, other non-class-specific expenses, and gains and losses on investments are allocated to each class of shares based on its relative net assets.

30


Growth Index Fund

B. The Vanguard Group furnishes at cost investment advisory, corporate management, administrative, marketing, and distribution services. The costs of such services are allocated to the fund under methods approved by the board of trustees. The fund has committed to provide up to 0.40% of its net assets in capital contributions to Vanguard. At December 31, 2009, the fund had contributed capital of $3,046,000 to Vanguard (included in Other Assets), representing 0.02% of the fund’s net assets and 1.22% of

Vanguard’s capitalization. The fund’s trustees and officers are also directors and officers of Vanguard.

C. Various inputs may be used to determine the value of the fund’s investments. These inputs are summarized in three broad levels for financial statement purposes. The inputs or methodologies used to value securities are not necessarily an indication of the risk associated with investing in those securities.

Level 1—Quoted prices in active markets for identical securities.

Level 2—Other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).

Level 3—Significant unobservable inputs (including the fund’s own assumptions used to determine the fair value of investments).

At December 31, 2009, 100% of the fund’s investments were valued based on Level 1 inputs.

D. Distributions are determined on a tax basis and may differ from net investment income and realized capital gains for financial reporting purposes. Differences may be permanent or temporary. Permanent differences are reclassified among capital accounts in the financial statements to reflect their tax character. Temporary differences arise when certain items of income, expense, gain, or loss are recognized in different periods for financial statement and tax purposes; these differences will reverse at some time in the future. Differences in classification may also result from the treatment of short-term gains as ordinary income for tax purposes.

During the year ended December 31, 2009, the fund realized $177,733,000 of net capital gains resulting from in-kind redemptions—in which shareholders exchanged fund shares for securities held by the fund rather than for cash. Because such gains are not taxable to the fund, and are not distributed to shareholders, they have been reclassified from accumulated net realized losses to paid-in capital.

For tax purposes, at December 31, 2009, the fund had $2,576,000 of ordinary income available for distribution. The fund had available capital loss carryforwards totaling $2,487,079,000 to offset future net capital gains of $747,930,000 through December 31, 2010, $742,396,000 through December 31, 2011, and $996,753,000 through December 31, 2017. Capital loss carryforwards of $1,193,638,000 expired on December 31, 2009; accordingly, such losses have been reclassified from accumulated net realized losses to paid-in capital.

At December 31, 2009, the cost of investment securities for tax purposes was $13,553,171,000. Net unrealized appreciation of investment securities for tax purposes was $2,174,816,000, consisting of unrealized gains of $2,857,507,000 on securities that had risen in value since their purchase and $682,691,000 in unrealized losses on securities that had fallen in value since their purchase.

E. During the year ended December 31, 2009, the fund purchased $4,666,196,000 of investment securities and sold $4,249,970,000 of investment securities, other than temporary cash investments.

31


Growth Index Fund

F. Capital share transactions for each class of shares were:       
      Year Ended December 31, 
    2009    2008 
  Amount  Shares  Amount  Shares 
  ($000)  (000)  ($000)  (000) 
Investor Shares         
Issued  825,020  37,006  1,177,045  42,851 
Issued in Lieu of Cash Distributions  56,637  2,446  52,974  2,046 
Redeemed  (877,368)  (39,063)  (1,208,631)  (44,523) 
Net Increase (Decrease)—Investor Shares  4,289  389  21,388  374 
Admiral Shares         
Issued  213,424  9,300  302,897  11,068 
Issued in Lieu of Cash Distributions  16,508  712  16,426  628 
Redeemed  (316,103)  (13,793)  (359,375)  (14,153) 
Net Increase (Decrease)—Admiral Shares  (86,171)  (3,781)  (40,052)  (2,457) 
Signal Shares         
Issued  431,599  20,087  549,092  21,398 
Issued in Lieu of Cash Distributions  13,019  605  11,980  496 
Redeemed  (293,835)  (14,327)  (447,727)  (18,106) 
Net Increase (Decrease)—Signal Shares  150,783  6,365  113,345  3,788 
Institutional Shares         
Issued  755,744  33,073  711,522  24,895 
Issued in Lieu of Cash Distributions  29,495  1,269  26,884  1,032 
Redeemed  (617,593)  (27,050)  (647,152)  (23,207) 
Net Increase (Decrease)—Institutional Shares  167,646  7,292  91,254  2,720 
ETF Shares         
Issued  629,619  14,191  1,296,261  24,431 
Issued in Lieu of Cash Distributions  —  —  —  — 
Redeemed  (453,317)  (9,800)  (250,274)  (5,100) 
Net Increase (Decrease)—ETF Shares  176,302  4,391  1,045,987  19,331 

G. In preparing the financial statements as of December 31, 2009, management considered the impact of subsequent events occurring through February 10, 2010, for potential recognition or disclosure in these financial statements.

32


Value Index Fund           
 
 
Fund Profile           
As of December 31, 2009           
 
Share-Class Characteristics           
  Investor  Admiral  Signal  Institutional  ETF 
  Shares  Shares  Shares  Shares  Shares 
Ticker Symbol  VIVAX  VVIAX  VVISX  VIVIX  VTV 
Expense Ratio1  0.26%  0.15%  0.15%  0.09%  0.15% 
30-Day SEC Yield  2.22%  2.37%  2.37%  2.41%  2.37% 

Portfolio Characteristics     
    MSCI US  DJ 
    Prime  U.S. Total 
    Market  Market 
  Fund Value Index  Index 
Number of Stocks  425  424  4,201 
Median Market Cap $40.0B  $40.0B  $30.7B 
Price/Earnings Ratio  30.8x  30.8x  35.7x 
Price/Book Ratio  1.6x  1.6x  2.1x 
Return on Equity  17.6%  17.6%  19.3% 
Earnings Growth Rate  1.1%  1.1%  8.1% 
Dividend Yield  2.6%  2.6%  1.8% 
Foreign Holdings  0.0%  0.0%  0.0% 
Turnover Rate  31%  —  — 
Short-Term Reserves  0.0%  —  — 
 
Volatility Measures       
      DJ 
  MSCI US  U.S. Total 
  Prime Market  Market 
  Value Index  Index 
R-Squared    1.00  0.95 
Beta    1.00  1.00 

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  5.9% 
Procter & Gamble Co.  Household   
  Products  3.2 
AT&T Inc.  Integrated   
  Telecommunication   
  Services  3.0 
JPMorgan Chase & Co.  Diversified Financial   
  Services  3.0 
General Electric Co.  Industrial   
  Conglomerates  2.9 
Chevron Corp.  Integrated Oil &   
  Gas  2.8 
Pfizer Inc.  Pharmaceuticals  2.7 
Wells Fargo & Co.  Diversified Banks  2.4 
Bank of America Corp.  Diversified Financial   
  Services  2.4 
Merck & Co. Inc.  Pharmaceuticals  2.0 
Top Ten    30.3% 

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

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 0.26% for Investor Shares, 0.14% for Admiral Shares, 0.14% for Signal Shares, 0.08% for Institutional Shares, and 0.14% for ETF Shares.

33


Value Index Fund

Sector Diversification (% of equity exposure)

    MSCI US   
    Prime  DJ 
    Market  U.S. Total 
    Value  Market 
  Fund  Index  Index 
Consumer       
Discretionary  7.6%  7.6%  10.3% 
Consumer Staples  10.0  10.0  9.9 
Energy  15.7  15.7  10.6 
Financials  23.2  23.1  16.0 
Health Care  11.5  11.5  12.6 
Industrials  12.6  12.6  10.6 
Information       
Technology  3.7  3.7  19.3 
Materials  3.0  3.0  4.0 
Telecommunication       
Services  5.4  5.5  2.9 
Utilities  7.3  7.3  3.8 

Investment Focus


34


Value 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 
  Value Index Fund Investor Shares  19.58%  0.05%  1.23%  $11,300 
••••••••  Dow Jones U.S. Total Stock Market         
  Index  29.35  1.09  -0.17  9,828 
 
 
Spliced Value Index 19.54 0.13 1.32 11,400
– – – –  Large-Cap Value  Funds Average  23.24 -0.39 0.42 10,428

Spliced Value Index: S&P 500/Barra Value Index through May 16, 2003; MSCI US Prime Market Value Index thereafter.

Large-Cap Value 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 
Value Index Fund Admiral Shares  19.72%  0.15%  1.13%  $110,763 
Dow Jones U.S. Total Stock Market         
Index  29.35  1.09  0.79  107,434 
Spliced Value Index  19.54  0.13  1.12  110,754 

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.

35


Value Index Fund

    Since  Final Value 
  One  Inception  of a $1,000,000 
  Year  (6/4/2007)  Investment 
Value Index Fund Signal Shares  19.70%  -12.89%  $700,947 
Dow Jones U.S. Total Stock Market       
Index  29.35  -9.23  779,306 
MSCI US Prime Market Value Index  19.54  -12.97  699,172 
Performance for the fund’s Signal Shares and comparative standards is calculated since the Signal Shares’ inception.

        Final Value 
  One  Five  Ten  of a $5,000,000 
  Year  Years  Years  Investment 
Value Index Fund Institutional         
Shares  19.79%  0.19%  1.36%  $5,724,714 
Dow Jones U.S. Total Stock Market         
Index  29.35  1.09  -0.17  4,913,789 
Spliced Value Index  19.54  0.13  1.32  5,700,076 

      Since  Final Value 
  One  Five  Inception  of a $10,000 
  Year  Years  (1/26/2004)  Investment 
Value Index Fund         
ETF Shares Net Asset Value  19.72%  0.15%  1.96%  $11,222 
Dow Jones U.S. Total Stock Market Index  29.35  1.09  2.20  11,376 
MSCI US Prime Market Value Index  19.54  0.13  1.96  11,217 

Performance for the fund’s ETF Shares and comparative standards is calculated since the ETF Shares’ inception.
For more information about how the ETF Shares' market prices have compared with their net asset value, visit www.vanguard.com, select
your ETF, and then select the Performance tab. The Premium/Discount table there shows the percentages of days on which the ETF Shares'
market price was above or below the NAV.

Cumulative Returns of ETF Shares: January 26, 2004, Through December 31, 2009

  One  Five  Since 
  Year  Years  Inception 
Value Index Fund       
ETF Shares Market Price  19.58%  0.63%  12.24% 
Value Index Fund       
ETF Shares Net Asset Value  19.72  0.77  12.22 
MSCI US Prime Market Value Index  19.54  0.63  12.17 

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

36


Value Index Fund

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.

37


Value 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 (7.6%)   
  Walt Disney Co.  3,863,374  124,594 
  Home Depot Inc.  3,604,859  104,288 
  Time Warner Inc.  2,509,136  73,116 
  Comcast Corp. Class A  3,579,549  60,351 
  News Corp. Class A  3,991,911  54,649 
  Comcast Corp.  2,255,788  36,115 
  Time Warner Cable Inc.  745,711  30,865 
*  Carnival Corp.  927,265  29,385 
*  Viacom Inc. Class B  755,898  22,473 
  CBS Corp. Class B  1,246,504  17,513 
  H&R Block Inc.  709,549  16,050 
  Mattel Inc.  761,762  15,220 
  Macy’s Inc.  889,818  14,913 
  Starwood Hotels &     
  Resorts Worldwide Inc.  395,319  14,457 
  VF Corp.  188,661  13,817 
  Fortune Brands Inc.  317,888  13,733 
*  Liberty Media Corp.-     
  Interactive  1,199,321  13,001 
  Genuine Parts Co.  337,556  12,814 
  Whirlpool Corp.  156,616  12,633 
  Harley-Davidson Inc.  496,343  12,508 
  Ltd Brands Inc.  578,437  11,129 
  Gap Inc.  516,116  10,813 
  Darden Restaurants Inc.  280,399  9,834 
  DISH Network Corp.     
  Class A  440,963  9,159 
  Newell Rubbermaid Inc.  587,613  8,820 
  Hasbro Inc.  266,377  8,540 
  Black & Decker Corp.  127,287  8,252 
  Autoliv Inc.  179,972  7,804 
  Wyndham     
  Worldwide Corp.  377,991  7,624 
*  Royal Caribbean     
  Cruises Ltd.  294,051  7,434 
  Gannett Co. Inc.  496,808  7,378 
  American Eagle     
  Outfitters Inc.  393,833  6,687 
  Abercrombie & Fitch Co.  185,795  6,475 
  Leggett & Platt Inc.  313,759  6,401 
*,^  Sears Holdings Corp.  76,504  6,384 
  JC Penney Co. Inc.  224,413  5,972 
*  Mohawk Industries Inc.  123,315  5,870 
  Washington Post Co.     
  Class B  12,890  5,666 
  News Corp. Class B  323,897  5,156 
*  Interpublic Group     
  of Cos. Inc.  667,974  4,930 
*  Liberty Media Corp.-     
  Starz  104,605  4,827 
*  AutoNation Inc.  244,600  4,684 
  Lennar Corp. Class A  305,992  3,907 
  Foot Locker Inc.  330,913  3,686 
  Virgin Media Inc.  207,162  3,486 
  DR Horton Inc.  303,221  3,296 
  Brinker International Inc.  217,005  3,238 
*  Toll Brothers Inc.  145,707  2,741 
  Wendy’s/Arby’s Group Inc.     
  Class A  552,990  2,593 
  Pulte Homes Inc.  254,880  2,549 
*  Goodyear Tire &     
  Rubber Co.  171,105  2,413 
*  Hyatt Hotels Corp.     
  Class A  80,775  2,408 
  Weight Watchers     
  International Inc.  73,652  2,148 
*  Penn National Gaming Inc.  70,944  1,928 
*  Lamar Advertising Co.     
  Class A  54,190  1,685 
      888,412 
Consumer Staples (10.0%)     
  Procter & Gamble Co.  6,177,543  374,544 
  Coca-Cola Co.  2,869,059  163,536 
  Altria Group Inc.  4,383,597  86,050 
  Kraft Foods Inc.  3,121,500  84,842 
  Archer-Daniels-Midland Co.  1,222,886 38,289 
  Kimberly-Clark Corp.  570,110  36,322 
  Sysco Corp.  1,250,711  34,945 

38


Value Index Fund

      Market 
      Value• 
    Shares  ($000) 
  CVS Caremark Corp.  1,069,003  34,433 
  Kroger Co.  1,309,667  26,887 
  ConAgra Foods Inc.  937,755  21,615 
  Reynolds American Inc.  369,908  19,594 
  Safeway Inc.  881,433  18,766 
  Bunge Ltd.  280,430  17,900 
  General Mills Inc.  241,091  17,072 
  Sara Lee Corp.  1,398,534  17,034 
  JM Smucker Co.  251,645  15,539 
  Molson Coors Brewing Co.   
  Class B  321,450  14,517 
  HJ Heinz Co.  333,426  14,257 
  Lorillard Inc.  174,729  14,018 
  Pepsi Bottling Group Inc.  319,220  11,971 
  Mead Johnson     
  Nutrition Co. Class A  216,307  9,453 
  McCormick & Co. Inc.  250,208  9,040 
  Brown-Forman Corp.     
  Class B  168,259  9,014 
  Church & Dwight Co. Inc.  148,771  8,993 
  Dr Pepper Snapple     
  Group Inc.  268,803  7,607 
  Tyson Foods Inc. Class A  617,053  7,571 
*  Ralcorp Holdings Inc.  119,682  7,146 
*  Constellation Brands Inc.     
  Class A  417,691  6,654 
  SUPERVALU Inc.  448,276  5,698 
  Alberto-Culver Co. Class B  186,832  5,472 
  Campbell Soup Co.  155,552  5,258 
*  Smithfield Foods Inc.  314,692  4,780 
  Hershey Co.  117,623  4,210 
  Hormel Foods Corp.  102,004  3,922 
  PepsiAmericas Inc.  132,295  3,871 
      1,160,820 
Energy (15.7%)     
  Exxon Mobil Corp.  10,170,576  693,532 
  Chevron Corp.  4,244,297  326,768 
  ConocoPhillips  2,981,348  152,257 
  Occidental     
  Petroleum Corp.  1,115,229  90,724 
  Apache Corp.  710,542  73,307 
  Devon Energy Corp.  892,240  65,580 
*  Transocean Ltd.  679,435  56,257 
  Marathon Oil Corp.  1,497,731  46,759 
  XTO Energy Inc.  758,141  35,276 
  Chesapeake Energy Corp.  1,289,988  33,385 
  Spectra Energy Corp.  1,366,876  28,035 
  Williams Cos. Inc.  1,233,648  26,005 
  Halliburton Co.  667,822  20,095 
  Valero Energy Corp.  1,190,947  19,948 
  El Paso Corp.  1,483,873  14,586 
*  Newfield Exploration Co.  280,744  13,540 
  Hess Corp.  217,942  13,186 
*  Nabors Industries Ltd.  601,059  13,157 
  Pioneer Natural     
  Resources Co.  243,504  11,730 
*  Pride International Inc.  367,575  11,729 
  Noble Corp.  276,649  11,260 
  Cimarex Energy Co.  176,492  9,349 
*  Kinder Morgan     
  Management LLC  159,355  8,707 
  Arch Coal Inc.  343,797  7,650 
  Murphy Oil Corp.  134,197  7,274 
  Sunoco Inc.  247,365  6,456 
  BJ Services Co.  309,558  5,758 
  Tidewater Inc.  109,331  5,242 
*  Forest Oil Corp.  225,397  5,015 
  Cabot Oil & Gas Corp.  77,149  3,363 
*  Rowan Cos. Inc.  120,979  2,739 
  Tesoro Corp.  148,537  2,013 
  Patterson-UTI Energy Inc.  114,398  1,756 
*  SandRidge Energy Inc.  114,894  1,083 
      1,823,521 
Financials (23.2%)     
  JPMorgan Chase & Co.  8,322,538  346,800 
  Wells Fargo & Co.  10,279,356  277,440 
  Bank of America Corp.  18,306,700  275,699 
  Goldman Sachs     
  Group Inc.  1,027,753  173,526 
  Citigroup Inc.  29,160,167  96,520 
  Morgan Stanley  2,588,787  76,628 
  Bank of New York     
  Mellon Corp.  2,545,563  71,199 
  MetLife Inc.  1,732,502  61,244 
  Travelers Cos. Inc.  1,201,141  59,889 
  PNC Financial Services     
  Group Inc.  975,935  51,520 
  Prudential Financial Inc.  975,541  48,543 
  Aflac Inc.  989,391  45,759 
  BB&T Corp.  1,442,388  36,593 
  Chubb Corp.  740,506  36,418 
  ACE Ltd.  711,336  35,851 
  Allstate Corp.  1,078,409  32,395 
  US Bancorp  1,416,160  31,878 
  Simon Property Group Inc.  391,947 31,277 
  Loews Corp.  733,061  26,647 
*  Progressive Corp.  1,364,317  24,544 
  Marsh &     
  McLennan Cos. Inc.  1,108,581  24,477 
  Vornado Realty Trust  343,118  23,998 
  Ameriprise Financial Inc.  539,660  20,950 
  Invesco Ltd.  880,422  20,681 
  AON Corp.  522,743  20,042 
  Annaly Capital     
  Management Inc.  1,152,036  19,988 
  Boston Properties Inc.  293,210  19,666 
  Equity Residential  579,770  19,585 
  Hartford Financial     
  Services Group Inc.  813,181  18,915 
  HCP Inc.  615,327  18,792 
  Discover Financial     
  Services  1,136,736  16,721 

39


Value Index Fund

      Market 
      Value• 
    Shares  ($000) 
  Principal Financial     
  Group Inc.  674,905  16,225 
  State Street Corp.  366,253  15,947 
  Lincoln National Corp.  639,326  15,906 
  Fifth Third Bancorp  1,598,908  15,589 
  Ventas Inc.  331,233  14,488 
  Public Storage  174,804  14,238 
  SunTrust Banks Inc.  686,108  13,921 
  NYSE Euronext  550,182  13,920 
  AvalonBay     
  Communities Inc.  169,095  13,884 
  Hudson City Bancorp Inc.  998,201  13,705 
  Unum Group  701,371  13,691 
  XL Capital Ltd. Class A  724,081  13,272 
  Plum Creek     
  Timber Co. Inc.  344,492  13,008 
  ProLogis  937,067  12,828 
  New York Community     
  Bancorp Inc.  850,801  12,345 
  People’s United     
  Financial Inc.  737,181  12,311 
*  Genworth Financial Inc.     
  Class A  1,018,631  11,561 
  Kimco Realty Corp.  850,155  11,503 
  Health Care REIT Inc.  253,393  11,230 
*  SLM Corp.  989,437  11,151 
  Everest Re Group Ltd.  128,708  11,028 
^  M&T Bank Corp.  162,163  10,847 
  PartnerRe Ltd.  141,976  10,600 
  KeyCorp  1,858,464  10,315 
*  Leucadia National Corp.  412,525  9,814 
  Comerica Inc.  319,559  9,449 
  Willis Group Holdings Ltd.  355,709  9,384 
  Legg Mason Inc.  301,923  9,106 
  Federal Realty     
  Investment Trust  128,822  8,724 
  Regions Financial Corp.  1,634,463  8,646 
  Cincinnati Financial Corp.  326,971  8,580 
  SL Green Realty Corp.  162,590  8,169 
  Axis Capital Holdings Ltd.  286,169  8,130 
  Nationwide Health     
  Properties Inc.  227,476  8,003 
  AMB Property Corp.  309,488  7,907 
  Torchmark Corp.  175,077  7,695 
  Liberty Property Trust  236,658  7,575 
  WR Berkley Corp.  304,719  7,508 
  Assurant Inc.  249,455  7,354 
  Reinsurance Group of     
  America Inc. Class A  153,882  7,333 
  Macerich Co.  199,980  7,189 
  Rayonier Inc.  167,485  7,061 
  RenaissanceRe     
  Holdings Ltd.  131,880  7,009 
*  Markel Corp.  19,759  6,718 
  HCC Insurance     
  Holdings Inc.  238,073  6,659 
  Regency Centers Corp.  187,164  6,562 
*  Arch Capital Group Ltd.  90,232  6,456 
  First American Corp.  191,850  6,352 
*  First Horizon     
  National Corp.  470,416  6,304 
  Fidelity National     
  Financial Inc. Class A  464,456  6,252 
  Transatlantic Holdings Inc.  119,565  6,231 
  Hospitality     
  Properties Trust  258,366  6,126 
  Commerce     
  Bancshares Inc.  149,383  5,784 
  Duke Realty Corp.  473,908  5,767 
^  Realty Income Corp.  220,506  5,713 
  Cullen/Frost Bankers Inc.  114,028  5,701 
  White Mountains     
  Insurance Group Ltd.  16,863  5,610 
  Marshall & Ilsley Corp.  1,012,902  5,520 
  Federated Investors Inc.     
  Class B  195,855  5,386 
  Validus Holdings Ltd.  197,721  5,327 
  UDR Inc.  318,608  5,238 
  Huntington     
  Bancshares Inc.  1,432,854  5,230 
  Old Republic     
  International Corp.  508,562  5,106 
  Digital Realty Trust Inc.  99,327  4,994 
*,^  American International     
  Group Inc.  166,419  4,989 
  Raymond James     
  Financial Inc.  208,605  4,959 
  Weingarten Realty     
  Investors  240,521  4,760 
  City National Corp.  92,394  4,213 
  American Financial     
  Group Inc.  160,312  4,000 
*  NASDAQ OMX Group Inc.  195,979  3,884 
  TCF Financial Corp.  245,809  3,348 
  Zions Bancorporation  255,322  3,276 
  Associated Banc-Corp  258,141  2,842 
  BOK Financial Corp.  57,084  2,713 
  Mercury General Corp.  58,126  2,282 
  Capitol Federal Financial  47,304  1,488 
  TFS Financial Corp.  98,355  1,194 
  Host Hotels & Resorts Inc.  13,211 154 
      2,699,472 
Health Care (11.5%)     
  Pfizer Inc.  17,066,397  310,438 
  Merck & Co. Inc.  6,464,270  236,204 
  Johnson & Johnson  2,916,033  187,822 
  Bristol-Myers Squibb Co.  3,622,542  91,469 
  Eli Lilly & Co.  2,188,488  78,151 
  UnitedHealth Group Inc.  2,459,981  74,980 
*  WellPoint Inc.  1,005,325  58,600 
  Covidien PLC  1,063,253  50,919 

40


Value Index Fund

      Market 
      Value• 
    Shares  ($000) 
*  Thermo Fisher     
  Scientific Inc.  863,777  41,194 
  Aetna Inc.  923,708  29,282 
*  Boston Scientific Corp.  3,190,271  28,713 
  Cardinal Health Inc.  761,996  24,567 
*  Forest Laboratories Inc.  638,350  20,497 
  CIGNA Corp.  577,052  20,353 
  AmerisourceBergen Corp.     
  Class A  629,074  16,400 
*  Humana Inc.  359,039  15,758 
*  Coventry Health Care Inc.  316,422  7,686 
*  King Pharmaceuticals Inc.  526,044  6,455 
*  Vertex     
  Pharmaceuticals Inc.  142,762  6,117 
  Omnicare Inc.  252,988  6,117 
  Universal Health     
  Services Inc. Class B  191,916  5,853 
*  Health Net Inc.  219,619  5,115 
*  CareFusion Corp.  190,727  4,770 
*  Charles River Laboratories     
  International Inc.  139,215  4,690 
*  Dendreon Corp.  138,713  3,645 
*  Inverness Medical     
  Innovations Inc.  81,192  3,370 
  Pharmaceutical Product     
  Development Inc.  79,115  1,855 
*  Endo Pharmaceuticals     
  Holdings Inc.  87,125  1,787 
      1,342,807 
Industrials (12.6%)     
  General Electric Co.  22,489,781  340,270 
  United Technologies Corp.  1,892,399  131,351 
  3M Co.  1,403,855  116,057 
  Burlington Northern     
  Santa Fe Corp.  719,510  70,958 
  Emerson Electric Co.  1,590,568  67,758 
  General Dynamics Corp.  692,725  47,223 
  Illinois Tool Works Inc.  899,663  43,175 
  Raytheon Co.  824,016  42,453 
  Norfolk Southern Corp.  778,029  40,784 
  CSX Corp.  829,997  40,247 
  Honeywell     
  International Inc.  982,735  38,523 
  Tyco International Ltd.  1,003,291  35,797 
  Northrop Grumman Corp.  639,560  35,719 
  Lockheed Martin Corp.  449,327  33,857 
  Waste Management Inc.  990,547  33,490 
  United Parcel Service Inc.     
  Class B  520,159  29,842 
  Deere & Co.  447,513  24,206 
  Ingersoll-Rand PLC  675,503  24,143 
  Republic Services Inc.     
  Class A  802,442  22,717 
  L-3 Communications     
  Holdings Inc.  246,645  21,446 
  Eaton Corp.  332,888  21,178 
  FedEx Corp.  219,819  18,344 
  Dover Corp.  393,913  16,391 
  Cooper Industries PLC  352,806  15,044 
  Rockwell Automation Inc.  300,358  14,111 
  Goodrich Corp.  170,484  10,954 
  Textron Inc.  571,701  10,754 
  Masco Corp.  761,382  10,515 
  Pitney Bowes Inc.  438,150  9,972 
  RR Donnelley & Sons Co.  434,400  9,674 
  Cummins Inc.  202,749  9,298 
  Equifax Inc.  267,416  8,261 
*  URS Corp.  178,408  7,943 
  Avery Dennison Corp.  214,698  7,834 
  Stanley Works  151,065  7,781 
  Cintas Corp.  291,426  7,592 
  KBR Inc.  339,379  6,448 
  Pentair Inc.  197,626  6,383 
  Harsco Corp.  169,731  5,471 
  Ryder System Inc.  118,532  4,880 
  Manpower Inc.  82,996  4,530 
  Pall Corp.  124,616  4,511 
*  Owens Corning  162,059  4,155 
  SPX Corp.  52,198  2,855 
*  Hertz Global Holdings Inc.  137,183  1,635 
*  Terex Corp.  80,514  1,595 
*  Spirit Aerosystems     
  Holdings Inc. Class A  77,854  1,546 
      1,469,671 
Information Technology (3.7%)   
  Intel Corp.  7,700,662  157,094 
  Corning Inc.  1,644,943  31,764 
  Texas Instruments Inc.  934,311  24,348 
  Seagate Technology  1,048,455  19,071 
*  Computer Sciences Corp.  320,987  18,466 
  Fidelity National     
  Information Services Inc.  666,934  15,633 
  Xerox Corp.  1,839,210  15,560 
  Xilinx Inc.  584,077  14,637 
*  Affiliated Computer     
  Services Inc. Class A  192,646  11,499 
  Microchip Technology Inc.  387,111  11,250 
*  Avnet Inc.  319,691  9,642 
*  SAIC Inc.  431,370  8,170 
*  Flextronics     
  International Ltd.  1,117,567  8,169 
*  Arrow Electronics Inc.  253,592  7,509 
  Analog Devices Inc.  215,915  6,819 
  Jabil Circuit Inc.  384,193  6,674 
*  Micron Technology Inc.  628,338  6,635 
  Total System Services Inc.  355,255  6,135 
*  Citrix Systems Inc.  135,499  5,638 
*  Ingram Micro Inc.  310,275  5,414 
*  LSI Corp.  896,076  5,385 
*  AOL Inc.  228,330  5,316 
  Harris Corp.  97,889  4,655 
*  Tellabs Inc.  797,889  4,532 

41


Value Index Fund

      Market 
      Value• 
    Shares  ($000) 
*  Lexmark International Inc.     
  Class A  164,970  4,286 
*  IAC/InterActiveCorp  202,108  4,139 
  Intersil Corp. Class A  259,978  3,988 
  Molex Inc. Class A  156,999  3,003 
  Molex Inc.  131,973  2,844 
*  NCR Corp.  118,314  1,317 
      429,592 
Materials (3.0%)     
  EI du Pont de     
  Nemours & Co.  1,912,261  64,386 
  Dow Chemical Co.  1,210,049  33,434 
  Nucor Corp.  665,936  31,066 
  Air Products &     
  Chemicals Inc.  288,959  23,423 
  PPG Industries Inc.  348,982  20,429 
  Vulcan Materials Co.  264,465  13,929 
  Cliffs Natural     
  Resources Inc.  277,220  12,777 
*  Owens-Illinois Inc.  356,279  11,711 
  International Paper Co.  435,034  11,650 
  Lubrizol Corp.  143,103  10,439 
  MeadWestvaco Corp.  362,110  10,367 
  Ball Corp.  189,143  9,779 
  Eastman Chemical Co.  153,771  9,263 
  CF Industries     
  Holdings Inc.  97,339  8,836 
  Allegheny     
  Technologies Inc.  186,687  8,358 
  Airgas Inc.  155,808  7,416 
  Sealed Air Corp.  335,970  7,344 
  Mosaic Co.  115,499  6,899 
  International Flavors &     
  Fragrances Inc.  167,051  6,873 
  Bemis Co. Inc.  228,903  6,787 
  Sonoco Products Co.  211,236  6,179 
  Albemarle Corp.  154,852  5,632 
  Valspar Corp.  202,005  5,482 
  FMC Corp.  94,643  5,277 
  Reliance Steel &     
  Aluminum Co.  91,361  3,949 
  Greif Inc. Class A  51,769  2,795 
  Steel Dynamics Inc.  143,292  2,539 
  Commercial Metals Co.  155,573  2,435 
*  Titanium Metals Corp.  162,302  2,032 
      351,486 
Telecommunication Services (5.4%)   
  AT&T Inc.  12,486,284  349,991 
  Verizon     
  Communications Inc.  6,011,632  199,165 
  CenturyTel Inc.  629,065  22,778 
*  Sprint Nextel Corp.  6,156,632  22,533 
  Qwest Communications     
  International Inc.  3,283,274  13,823 
  Windstream Corp.  924,232  10,157 
  Frontier     
  Communications Corp.  660,278  5,157 
  Telephone &     
  Data Systems Inc.  109,400  3,711 
  Telephone &     
  Data Systems Inc.-     
  Special Common Shares  97,615  2,948 
*  Level 3     
  Communications Inc.  1,736,619  2,657 
*  United States Cellular Corp.  40,131 1,702 
      634,622 
Utilities (7.3%)     
  Exelon Corp.  1,394,792  68,163 
  Southern Co.  1,684,607  56,131 
  Dominion Resources Inc.  1,259,717  49,028 
  Duke Energy Corp.  2,744,204  47,228 
  FPL Group Inc.  827,222  43,694 
  Public Service Enterprise     
  Group Inc.  1,070,800  35,604 
  American Electric     
  Power Co. Inc.  1,008,989  35,103 
  PG&E Corp.  784,426  35,025 
  Entergy Corp.  414,352  33,911 
  FirstEnergy Corp.  645,070  29,963 
  Sempra Energy  493,219  27,610 
  Consolidated Edison Inc.  581,937  26,437 
  PPL Corp.  796,871  25,747 
  Progress Energy Inc.  591,083  24,240 
  Edison International  654,988  22,780 
  Xcel Energy Inc.  964,415  20,465 
  Questar Corp.  368,626  15,324 
  DTE Energy Co.  348,053  15,172 
  Ameren Corp.  494,101  13,810 
  Constellation Energy     
  Group Inc.  382,094  13,438 
*  NRG Energy Inc.  561,382  13,254 
  Wisconsin Energy Corp.  247,353  12,326 
  CenterPoint Energy Inc.  777,316  11,279 
  Northeast Utilities  370,892  9,565 
  Oneok Inc.  211,824  9,441 
  SCANA Corp.  246,289  9,280 
  NiSource Inc.  582,704  8,962 
  MDU Resources     
  Group Inc.  370,073  8,734 
  Allegheny Energy Inc.  358,635  8,421 
  NSTAR  225,997  8,317 
  American     
  Water Works Co. Inc.  369,505  8,281 
  Pepco Holdings Inc.  467,243  7,873 
  Pinnacle West     
  Capital Corp.  214,106  7,832 
  National Fuel Gas Co.  152,778  7,639 
  CMS Energy Corp.  484,376  7,585 
  OGE Energy Corp.  204,267  7,535 
  Alliant Energy Corp.  233,899  7,078 
  TECO Energy Inc.  429,534  6,967 

42


Value Index Fund

      Market 
      Value• 
    Shares  ($000) 
  Integrys Energy Group Inc. 161,688  6,789 
  DPL Inc.  245,425  6,774 
  Energen Corp.  144,379  6,757 
  NV Energy Inc.  497,353  6,157 
  UGI Corp.  229,169  5,544 
  Aqua America Inc.  287,189  5,029 
*  Mirant Corp.  306,766  4,684 
*  RRI Energy Inc.  742,581  4,247 
*  Dynegy Inc. Class A  698,125  1,264 
      846,487 
Total Common Stocks     
(Cost $11,401,278)    11,646,890 
Temporary Cash Investment (0.2%)   
Money Market Fund (0.2%)     
1,2  Vanguard Market     
  Liquidity Fund, 0.187%     
  (Cost $22,170)  22,169,848  22,170 
Total Investments (100.2%)     
(Cost $11,423,448)    11,669,060 
Other Assets and Liabilities (-0.2%)   
Other Assets    77,470 
Liabilities2    (105,097) 
      (27,627) 
Net Assets (100%)    11,641,433 

At December 31, 2009, net assets consisted of: 
  Amount 
  ($000) 
Paid-in Capital  14,940,274 
Overdistributed Net Investment Income  (15,787) 
Accumulated Net Realized Losses  (3,528,666) 
Unrealized Appreciation (Depreciation)  245,612 
Net Assets  11,641,433 
 
 
Investor Shares—Net Assets   
Applicable to 180,224,198 outstanding   
$.001 par value shares of beneficial   
interest (unlimited authorization)  3,356,942 
Net Asset Value Per Share—   
Investor Shares  $18.63 
 
 
Admiral Shares—Net Assets   
Applicable to 76,273,594 outstanding   
$.001 par value shares of beneficial   
interest (unlimited authorization)  1,420,821 
Net Asset Value Per Share—   
Admiral Shares  $18.63 
 
 
Signal Shares—Net Assets   
Applicable to 46,766,527 outstanding   
$.001 par value shares of beneficial   
interest (unlimited authorization)  906,531 
Net Asset Value Per Share—   
Signal Shares  $19.38 
 
 
Institutional Shares—Net Assets   
Applicable to 150,967,175 outstanding   
$.001 par value shares of beneficial   
interest (unlimited authorization)  2,812,275 
Net Asset Value Per Share—   
Institutional Shares  $18.63 
 
 
ETF Shares—Net Assets   
Applicable to 65,858,042 outstanding   
$.001 par value shares of beneficial   
interest (unlimited authorization)  3,144,864 
Net Asset Value Per Share—   
ETF Shares  $47.75 

• 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 $16,936,000.
1 Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by Vanguard. Rate shown is the
7-day yield.
2 Includes $17,719,000 of collateral received for securities on loan.
REIT—Real Estate Investment Trust.
See accompanying Notes, which are an integral part of the Financial Statements.
43


Value Index Fund

Statement of Operations

  Year Ended 
  December 31, 2009 
  ($000) 
Investment Income   
Income   
Dividends  309,129 
Interest1  22 
Security Lending  10,194 
Total Income  319,345 
Expenses   
The Vanguard Group—Note B   
Investment Advisory Services  392 
Management and Administrative—Investor Shares  6,103 
Management and Administrative—Admiral Shares  1,322 
Management and Administrative—Signal Shares  700 
Management and Administrative—Institutional Shares  923 
Management and Administrative—ETF Shares  2,226 
Marketing and Distribution—Investor Shares  751 
Marketing and Distribution—Admiral Shares  266 
Marketing and Distribution—Signal Shares  216 
Marketing and Distribution—Institutional Shares  575 
Marketing and Distribution—ETF Shares  728 
Custodian Fees  256 
Auditing Fees  25 
Shareholders’ Reports and Proxies—Investor Shares  354 
Shareholders’ Reports and Proxies—Admiral Shares  19 
Shareholders’ Reports and Proxies—Signal Shares  19 
Shareholders’ Reports and Proxies—Institutional Shares  75 
Shareholders’ Reports and Proxies—ETF Shares  231 
Trustees’ Fees and Expenses  18 
Total Expenses  15,199 
Net Investment Income  304,146 
Realized Net Gain (Loss) on Investment Securities Sold  (1,182,895) 
Change in Unrealized Appreciation (Depreciation) of Investment Securities  2,843,335 
Net Increase (Decrease) in Net Assets Resulting from Operations  1,964,586 
1 Interest income from an affiliated company of the fund was $22,000.   

See accompanying Notes, which are an integral part of the Financial Statements.
44


Value 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  304,146  337,782 
Realized Net Gain (Loss)  (1,182,895)  (675,445) 
Change in Unrealized Appreciation (Depreciation)  2,843,335  (4,128,281) 
Net Increase (Decrease) in Net Assets Resulting from Operations  1,964,586  (4,465,944) 
Distributions     
Net Investment Income     
Investor Shares  (89,175)  (108,368) 
Admiral Shares  (40,743)  (53,908) 
Signal Shares  (24,281)  (24,510) 
Institutional Shares  (75,494)  (75,111) 
ETF Shares  (83,082)  (75,028) 
Realized Capital Gain     
Investor Shares  —  — 
Admiral Shares  —  — 
Signal Shares  —  — 
Institutional Shares  —  — 
ETF Shares  —  — 
Total Distributions  (312,775)  (336,925) 
Capital Share Transactions     
Investor Shares  222,645  (59,203) 
Admiral Shares  (34,694)  (13,571) 
Signal Shares  137,348  125,768 
Institutional Shares  431,888  405,400 
ETF Shares  558,365  899,880 
Net Increase (Decrease) from Capital Share Transactions  1,315,552  1,358,274 
Total Increase (Decrease)  2,967,363  (3,444,595) 
Net Assets     
Beginning of Period  8,674,070  12,118,665 
End of Period1  11,641,433  8,674,070 
1 Net Assets—End of Period includes undistributed (overdistributed) net investment income of ($15,787,000) and ($7,158,000).

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

45


Value Index Fund           
 
 
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  $16.08  $25.94  $26.58  $22.29  $21.35 
Investment Operations           
Net Investment Income  .498  .660  .687  .586  .559 
Net Realized and Unrealized Gain (Loss)           
on Investments  2.561  (9.863)  (.644)  4.295  .936 
Total from Investment Operations  3.059  (9.203)  .043  4.881  1.495 
Distributions           
Dividends from Net Investment Income  (.509)  (.657)  (.683)  (.591)  (.555) 
Distributions from Realized Capital Gains  —  —  —  —  — 
Total Distributions  (.509)  (.657)  (.683)  (.591)  (.555) 
Net Asset Value, End of Period  $18.63  $16.08  $25.94  $26.58  $22.29 
 
Total Return1  19.58%  -35.97%  0.09%  22.15%  7.09% 
 
Ratios/Supplemental Data           
Net Assets, End of Period (Millions)  $3,357  $2,618  $4,310  $4,417  $3,376 
Ratio of Total Expenses to           
Average Net Assets  0.26%  0.21%  0.20%  0.21%  0.21% 
Ratio of Net Investment Income to           
Average Net Assets  3.09%  3.14%  2.49%  2.48%  2.63% 
Portfolio Turnover Rate2  31%  27%  20%  20%  21% 

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,
including ETF Creation Units.

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

46


Value Index Fund           
 
 
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  $16.08  $25.94  $26.58  $22.29  $21.35 
Investment Operations           
Net Investment Income  .517  .681  .710  .611  .581 
Net Realized and Unrealized Gain (Loss)           
on Investments  2.562  (9.863)  (.640)  4.295  .936 
Total from Investment Operations  3.079  (9.182)  .070  4.906  1.517 
Distributions           
Dividends from Net Investment Income  (.529)  (.678)  (.710)  (.616)  (.577) 
Distributions from Realized Capital Gains  —  —  —  —  — 
Total Distributions  (.529)  (.678)  (.710)  (.616)  (.577) 
Net Asset Value, End of Period  $18.63  $16.08  $25.94  $26.58  $22.29 
 
Total Return  19.72%  -35.90%  0.18%  22.27%  7.20% 
 
Ratios/Supplemental Data           
Net Assets, End of Period (Millions)  $1,421  $1,262  $2,069  $2,625  $1,880 
Ratio of Total Expenses to           
Average Net Assets  0.14%  0.11%  0.10%  0.11%  0.11% 
Ratio of Net Investment Income to           
Average Net Assets  3.21%  3.24%  2.59%  2.58%  2.72% 
Portfolio Turnover Rate1  31%  27%  20%  20%  21% 

1 Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares,
including ETF Creation Units.

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

47


Value Index Fund       
 
 
Financial Highlights       
 
 
Signal Shares       
      June 4, 
  Year Ended  20071 to 
  December 31,  Dec. 31, 
For a Share Outstanding Throughout Each Period  2009  2008  2007 
Net Asset Value, Beginning of Period  $16.73  $27.00  $30.14 
Investment Operations       
Net Investment Income  .538  .710  .442 
Net Realized and Unrealized Gain (Loss) on Investments  2.663  (10.274)  (3.017) 
Total from Investment Operations  3.201  (9.564)  (2.575) 
Distributions       
Dividends from Net Investment Income  (.551)  (.706)  (.565) 
Distributions from Realized Capital Gains  —  —  — 
Total Distributions  (.551)  (.706)  (.565) 
Net Asset Value, End of Period  $19.38  $16.73  $27.00 
 
Total Return  19.70%  -35.93%  -8.61% 
 
Ratios/Supplemental Data       
Net Assets, End of Period (Millions)  $907  $638  $864 
Ratio of Total Expenses to Average Net Assets  0.14%  0.11%  0.10%2 
Ratio of Net Investment Income to Average Net Assets  3.21%  3.24%  2.59%2 
Portfolio Turnover Rate3  31%  27%  20% 

1 Inception.
2 Annualized.
3 Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares,
including ETF Creation Units.

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

48


Value Index Fund           
 
 
Financial Highlights           
 
 
Institutional Shares           
 
For a Share Outstanding  Year Ended December 31, 
Throughout Each Period  2009  2008  2007  2006  2005 
Net Asset Value, Beginning of Period  $16.08  $25.94  $26.58  $22.29  $21.35 
Investment Operations           
Net Investment Income  .527  .690  .722  .618  .588 
Net Realized and Unrealized Gain (Loss)           
on Investments  2.562  (9.864)  (.644)  4.295  .936 
Total from Investment Operations  3.089  (9.174)  .078  4.913  1.524 
Distributions           
Dividends from Net Investment Income  (.539)  (.686)  (.718)  (.623)  (.584) 
Distributions from Realized Capital Gains  —  —  —  —  — 
Total Distributions  (.539)  (.686)  (.718)  (.623)  (.584) 
Net Asset Value, End of Period  $18.63  $16.08  $25.94  $26.58  $22.29 
 
Total Return  19.79%  -35.88%  0.21%  22.31%  7.23% 
 
Ratios/Supplemental Data           
Net Assets, End of Period (Millions)  $2,812  $1,992  $2,660  $2,209  $1,224 
Ratio of Total Expenses to           
Average Net Assets  0.08%  0.07%  0.07%  0.08%  0.08% 
Ratio of Net Investment Income to           
Average Net Assets  3.27%  3.28%  2.62%  2.61%  2.76% 
Portfolio Turnover Rate1  31%  27%  20%  20%  21% 

1 Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares,
including ETF Creation Units.

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

49


Value Index Fund           
 
 
Financial Highlights           
 
 
ETF Shares           
 
For a Share Outstanding  Year Ended December 31, 
Throughout Each Period  2009  2008  2007  2006  2005 
Net Asset Value, Beginning of Period  $41.21  $66.51  $68.14  $57.14  $54.74 
Investment Operations           
Net Investment Income  1.324  1.754  1.830  1.565  1.489 
Net Realized and Unrealized Gain (Loss)           
on Investments  6.573  (25.311)  (1.640)  11.016  2.392 
Total from Investment Operations  7.897  (23.557)  .190  12.581  3.881 
Distributions           
Dividends from Net Investment Income  (1.357)  (1.743)  (1.820)  (1.581)  (1.481) 
Distributions from Realized Capital Gains  —  —  —  —  — 
Total Distributions  (1.357)  (1.743)  (1.820)  (1.581)  (1.481) 
Net Asset Value, End of Period  $47.75  $41.21  $66.51  $68.14  $57.14 
 
Total Return  19.72%  -35.91%  0.20%  22.28%  7.19% 
 
Ratios/Supplemental Data           
Net Assets, End of Period (Millions)  $3,145  $2,165  $2,215  $1,646  $600 
Ratio of Total Expenses to           
Average Net Assets  0.14%  0.10%  0.10%  0.11%  0.11% 
Ratio of Net Investment Income to           
Average Net Assets  3.21%  3.25%  2.59%  2.58%  2.72% 
Portfolio Turnover Rate1  31%  27%  20%  20%  21% 

1 Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares,
including ETF Creation Units.

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

50


Value Index Fund

Notes to Financial Statements

Vanguard Value Index Fund is registered under the Investment Company Act of 1940 as an openend investment company, or mutual fund. The fund offers five classes of shares: Investor Shares, Admiral Shares, Signal Shares, Institutional Shares, and ETF Shares. Investor Shares are available to any investor who meets the fund’s minimum purchase requirements. Admiral Shares are designed for investors who meet certain administrative, service, tenure, and account-size criteria. Signal Shares are designed for institutional investors who meet certain administrative, service, and account-size criteria. Institutional Shares are designed for investors who meet certain administrative and service criteria and invest a minimum amount of $5 million. ETF Shares are listed for trading on the NYSE Arca, Inc.; they can be purchased and sold through a broker.

A. The following significant accounting policies conform to generally accepted accounting principles for U.S. mutual funds. The fund consistently follows such policies in preparing its financial statements.

1. Security Valuation: Securities are valued as of the close of trading on the New York Stock Exchange (generally 4 p.m., Eastern time) on the valuation date. Equity securities are valued at the latest quoted sales prices or official closing prices taken from the primary market in which each security trades; such securities not traded on the valuation date are valued at the mean of the latest quoted bid and asked prices. Securities for which market quotations are not readily available, or whose values have been materially affected by events occurring before the fund’s pricing time but after the close of the securities’ primary markets, are valued by methods deemed by the board of trustees to represent fair value. Investments in Vanguard Market Liquidity Fund are valued at that fund’s net asset value.

2. Federal Income Taxes: The fund intends to continue to qualify as a regulated investment company and distribute all of its taxable income. Management has analyzed the fund’s tax positions taken for all open federal income tax years (December 31, 2006–2009), and has concluded that no provision for federal income tax is required in the fund’s financial statements.

3. Distributions: Distributions to shareholders are recorded on the ex-dividend date.

4. Security Lending: The fund may lend its securities to qualified institutional borrowers to earn additional income. Security loans are required to be secured at all times by collateral at least equal to the market value of securities loaned. The fund invests cash collateral received in Vanguard Market Liquidity Fund, and records a liability for the return of the collateral, during the period the securities are on loan. Security lending income represents the income earned on investing cash collateral, less expenses associated with the loan.

5. Other: Dividend income is recorded on the ex-dividend date. Interest income includes income distributions received from Vanguard Market Liquidity Fund and is accrued daily. Security transactions are accounted for on the date securities are bought or sold. Costs used to determine realized gains (losses) on the sale of investment securities are those of the specific securities sold.

Each class of shares has equal rights as to assets and earnings, except that each class separately bears certain class-specific expenses related to maintenance of shareholder accounts (included in Management and Administrative expenses), shareholder reporting, and proxies. Marketing and distribution expenses are allocated to each class of shares based on a method approved by the board of trustees. Income, other non-class-specific expenses, and gains and losses on investments are allocated to each class of shares based on its relative net assets.

51


Value Index Fund

B. The Vanguard Group furnishes at cost investment advisory, corporate management, administrative, marketing, and distribution services. The costs of such services are allocated to the fund under methods approved by the board of trustees. The fund has committed to provide up to 0.40% of its net assets in capital contributions to Vanguard. At December 31, 2009, the fund had contributed capital of $2,308,000 to Vanguard (included in Other Assets), representing 0.02% of the fund’s net assets and 0.92% of

Vanguard’s capitalization. The fund’s trustees and officers are also directors and officers of Vanguard.

C. Various inputs may be used to determine the value of the fund’s investments. These inputs are summarized in three broad levels for financial statement purposes. The inputs or methodologies used to value securities are not necessarily an indication of the risk associated with investing in those securities.

Level 1—Quoted prices in active markets for identical securities.

Level 2—Other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).

Level 3—Significant unobservable inputs (including the fund’s own assumptions used to determine the fair value of investments).

At December 31, 2009, 100% of the fund’s investments were valued based on Level 1 inputs.

D. Distributions are determined on a tax basis and may differ from net investment income and realized capital gains for financial reporting purposes. Differences may be permanent or temporary. Permanent differences are reclassified among capital accounts in the financial statements to reflect their tax character. Temporary differences arise when certain items of income, expense, gain, or loss are recognized in different periods for financial statement and tax purposes; these differences are primarily attributed to tax deferral of losses on wash sales and will reverse at some time in the future. Differences in classification may also result from the treatment of short-term gains as ordinary income for tax purposes.

During the year ended December 31, 2009, the fund realized $287,226,000 of net capital gains resulting from in-kind redemptions—in which shareholders exchanged fund shares for securities held by the fund rather than for cash. Because such gains are not taxable to the fund, and are not distributed to shareholders, they have been reclassified from accumulated net realized losses to paid-in capital.

For tax purposes, at December 31, 2009, the fund had $3,170,000 of ordinary income available for distribution. The fund had available capital loss carryforwards totaling $2,951,160,000 to offset future net capital gains of $125,066,000 through December 31, 2010, $503,996,000 through December 31, 2011, $40,920,000 through December 31, 2014, $73,605,000 through December 31, 2015, $574,313,000 through December 31, 2016, and $1,633,260,000 through December 31, 2017. In addition the fund realized losses of $300,775,000 during the period from November 1, 2009, through December 31, 2009, which are deferred and will be treated as realized for tax purposes in fiscal 2010.

At December 31, 2009, the cost of investment securities for tax purposes was $11,700,179,000. Net unrealized depreciation of investment securities for tax purposes was $31,119,000, consisting of unrealized gains of $1,330,016,000 on securities that had risen in value since their purchase and $1,361,135,000 in unrealized losses on securities that had fallen in value since their purchase.

52


Value Index Fund

E. During the year ended December 31, 2009, the fund purchased $5,187,275,000 of investment securities and sold $3,860,035,000 of investment securities, other than temporary cash investments.

F. Capital share transactions for each class of shares were:       
  Year Ended December 31, 
  2009  2008 
  Amount  Shares  Amount  Shares 
  ($000)  (000)  ($000)  (000) 
Investor Shares         
Issued  818,659  54,892  958,875  46,972 
Issued in Lieu of Cash Distributions  84,147  5,211  101,818  5,036 
Redeemed  (680,161)  (42,723)  (1,119,896)  (55,314) 
Net Increase (Decrease)—Investor Shares  222,645  17,380  (59,203)  (3,306) 
Admiral Shares         
Issued  199,402  12,749  354,896  17,158 
Issued in Lieu of Cash Distributions  34,372  2,141  45,976  2,274 
Redeemed  (268,468)  (17,098)  (414,443)  (20,714) 
Net Increase (Decrease)—Admiral Shares  (34,694)  (2,208)  (13,571)  (1,282) 
Signal Shares         
Issued  319,685  19,549  354,914  16,824 
Issued in Lieu of Cash Distributions  21,844  1,301  22,513  1,082 
Redeemed  (204,181)  (12,194)  (251,659)  (11,816) 
Net Increase (Decrease)—Signal Shares  137,348  8,656  125,768  6,090 
Institutional Shares         
Issued  736,050  45,857  742,481  37,106 
Issued in Lieu of Cash Distributions  68,821  4,239  66,917  3,359 
Redeemed  (372,983)  (23,026)  (403,998)  (19,090) 
Net Increase (Decrease)—Institutional Shares  431,888  27,070  405,400  21,375 
ETF Shares         
Issued  1,503,873  34,815  2,099,670  44,145 
Issued in Lieu of Cash Distributions  —  —  —  — 
Redeemed  (945,508)  (21,500)  (1,199,790)  (24,900) 
Net Increase (Decrease)—ETF Shares  558,365  13,315  899,880  19,245 

G. In preparing the financial statements as of December 31, 2009, management considered the impact of subsequent events occurring through February 10, 2010, for potential recognition or disclosure in these financial statements.

53


Large-Cap Index Fund

Fund Profile
As of December 31, 2009

Share-Class Characteristics           
  Investor  Admiral  Signal  Institutional  ETF 
  Shares  Shares  Shares  Shares  Shares 
Ticker Symbol  VLACX  VLCAX  VLCSX  VLISX  VV 
Expense Ratio1  0.26%  0.15%  0.15%  0.09%  0.13% 
30-Day SEC Yield  1.54%  1.69%  1.69%  1.73%  1.69% 

Portfolio Characteristics     
    MSCI US  DJ 
    Prime  U.S. Total 
    Market  Market 
  Fund  750 Index  Index 
Number of Stocks  758  757  4,201 
Median Market Cap $35.2B  $35.2B  $30.7B 
Price/Earnings Ratio  31.9x  31.9x  35.7x 
Price/Book Ratio  2.2x  2.2x  2.1x 
Return on Equity  20.4%  20.3%  19.3% 
Earnings Growth Rate  8.7%  8.7%  8.1% 
Dividend Yield  1.9%  1.9%  1.8% 
Foreign Holdings  0.0%  0.0%  0.0% 
Turnover Rate  8%  —  — 
Short-Term Reserves  0.0%  —  — 

Volatility Measures     
    DJ 
  MSCI US  U.S. Total 
  Prime Market  Market 
  750 Index  Index 
R-Squared  1.00  1.00 
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  3.0% 
Microsoft Corp.  Systems Software  2.2 
Apple Inc.  Computer   
  Hardware  1.7 
Johnson & Johnson  Pharmaceuticals  1.6 
Procter & Gamble Co.  Household   
  Products  1.6 
International Business  Computer   
Machines Corp.  Hardware  1.6 
AT&T Inc.  Integrated   
  Telecommunication   
  Services  1.5 
JPMorgan Chase & Co.  Diversified Financial   
  Services  1.5 
General Electric Co.  Industrial   
  Conglomerates  1.5 
Chevron Corp.  Integrated Oil &   
  Gas  1.4 
Top Ten    17.6% 

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

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 0.26% for
Investor Shares, 0.12% for Admiral Shares, 0.12% for Signal Shares, 0.08% for Institutional Shares, and 0.12% for ETF Shares.

54


Large-Cap Index Fund

Sector Diversification (% of equity exposure) 
    MSCI US  DJ 
    Prime  U.S. Total 
    Market  Market 
  Fund 750 Index  Index 
Consumer       
Discretionary  9.7%  9.7%  10.3% 
Consumer Staples  10.6  10.6  9.9 
Energy  11.6  11.6  10.6 
Financials  14.7  14.7  16.0 
Health Care  12.6  12.6  12.6 
Industrials  10.3  10.3  10.6 
Information       
Technology  19.8  19.8  19.3 
Materials  3.8  3.8  4.0 
Telecommunication       
Services  3.1  3.1  2.9 
Utilities  3.8  3.8  3.8 

Investment Focus


55


Large-Cap 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: January 30, 2004, Through December 31, 2009
Initial Investment of $10,000


    Average Annual Total Returns   
    Periods Ended December 31, 2009   
          Final Value 
    One  Five  Since  of a $10,000 
    Year  Years  Inception  Investment 
  Large-Cap Index Fund Investor Shares  27.60%  0.90%  2.26%  $11,412 
•••••••  Dow Jones U.S. Total Stock Market         
  Index  29.35  1.09  2.59  11,632 
 
 
– – – – MSCI US Prime Market Average 750 Index 27.80 1.02 2.39 11,498
____ Large-Cap  Core Funds  27.46  -0.15 0.89  10,538 

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

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

      Since  Final Value 
  One  Five  Inception  of a $100,000 
  Year  Years  (2/2/2004)  Investment 
Large-Cap Index Fund Admiral         
Shares  27.80%  1.00%  2.30%  $114,413 
Dow Jones U.S. Total Stock Market         
Index  29.35  1.09  2.54  115,988 
MSCI US Prime Market 750 Index  27.80  1.02  2.33  114,594 

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.

56


Large-Cap Index Fund

    Since  Final Value 
  One  Inception  of a $1,000,000 
  Year  (8/30/2007)  Investment 
Large-Cap Index Fund Signal Shares  27.81%  -8.16%  $819,656 
Dow Jones U.S. Total Stock Market       
Index  29.35  -7.98  823,388 
MSCI US Prime Market 750 Index  27.80  -8.18  819,132 

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

    Since  Final Value 
  One  Inception  of a $5,000,000 
  Year  (6/30/2005)  Investment 
Large-Cap Index Fund Institutional       
Shares  27.84%  1.15%  $5,265,149 
Dow Jones U.S. Total Stock Market       
Index  29.35  1.21  5,278,100 
MSCI US Prime Market 750 Index  27.80  1.14  5,260,766 

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

      Since  Final Value 
  One  Five  Inception  of a $10,000 
  Year  Years  (1/27/2004)  Investment 
Large-Cap Index Fund         
ETF Shares Net Asset Value  27.80%  1.03%  2.19%  $11,367 
Dow Jones U.S. Total Stock Market Index  29.35  1.09  2.36  11,483 
MSCI US Prime Market 750 Index  27.80  1.02  2.19  11,371 

Performance for the fund’s ETF Shares and comparative standards is calculated since the ETF Shares’ inception.
For more information about how the ETF Shares' market prices have compared with their net asset value, visit www.vanguard.com, select
your ETF, and then select the Performance tab. The Premium/Discount table there shows the percentages of days on which the ETF Shares'
market price was above or below the NAV.

Cumulative Returns of ETF Shares: January 27, 2004, Through December 31, 2009

  One  Five  Since 
  Year  Years  Inception 
Large-Cap Index Fund       
ETF Shares Market Price  27.70%  5.07%  13.69% 
Large-Cap Index Fund       
ETF Shares Net Asset Value  27.80  5.25  13.67 
MSCI US Prime Market 750 Index  27.80  5.18  13.71 

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

57


Large-Cap Index Fund

Fiscal-Year Total Returns (%): January 30, 2004, 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.

58


Large-Cap Index Fund

Statement of Operations

The Statement of Net Assets—an integral part of the Financial Statements for Vanguard Large-Cap
Index Fund—is included as an insert to this report.

  Year Ended 
  December 31, 2009 
  ($000) 
Investment Income   
Income   
Dividends  79,857 
Interest1  25 
Security Lending  1,512 
Total Income  81,394 
Expenses   
The Vanguard Group—Note B   
Investment Advisory Services  179 
Management and Administrative—Investor Shares  761 
Management and Administrative—Admiral Shares  222 
Management and Administrative—Signal Shares  143 
Management and Administrative—Institutional Shares  78 
Management and Administrative—ETF Shares  1,401 
Marketing and Distribution—Investor Shares  116 
Marketing and Distribution—Admiral Shares  54 
Marketing and Distribution—Signal Shares  39 
Marketing and Distribution—Institutional Shares  70 
Marketing and Distribution—ETF Shares  649 
Custodian Fees  318 
Auditing Fees  27 
Shareholders’ Reports and Proxies—Investor Shares  58 
Shareholders’ Reports and Proxies—Admiral Shares  3 
Shareholders’ Reports and Proxies—Signal Shares  2 
Shareholders’ Reports and Proxies—Institutional Shares  4 
Shareholders’ Reports and Proxies—ETF Shares  170 
Trustees’ Fees and Expenses  5 
Total Expenses  4,299 
Net Investment Income  77,095 
Realized Net Gain (Loss)   
Investment Securities Sold  (41,738) 
Futures Contracts  (10) 
Realized Net Gain (Loss)  (41,748) 
Change in Unrealized Appreciation (Depreciation)   
Investment Securities  840,315 
Futures Contracts  (278) 
Change in Unrealized Appreciation (Depreciation)  840,037 
Net Increase (Decrease) in Net Assets Resulting from Operations  875,384 

1 Interest income from an affiliated company of the fund was $20,000.

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

59


Large-Cap 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  77,095  50,039 
Realized Net Gain (Loss)  (41,748)  13,891 
Change in Unrealized Appreciation (Depreciation)  840,037  (979,263) 
Net Increase (Decrease) in Net Assets Resulting from Operations  875,384  (915,333) 
Distributions     
Net Investment Income     
Investor Shares  (8,831)  (6,574) 
Admiral Shares  (6,580)  (4,453) 
Signal Shares  (4,595)  (1,150) 
Institutional Shares  (6,135)  (3,662) 
ETF Shares  (53,549)  (33,171) 
Realized Capital Gain     
Investor Shares  —  — 
Admiral Shares  —  — 
Signal Shares  —  — 
Institutional Shares  —  — 
ETF Shares  —  — 
Total Distributions  (79,690)  (49,010) 
Capital Share Transactions     
Investor Shares  (17,470)  180,832 
Admiral Shares  11,594  128,891 
Signal Shares  96,504  82,023 
Institutional Shares  37,805  167,696 
ETF Shares  (3,836)  1,431,967 
Net Increase (Decrease) from Capital Share Transactions  124,597  1,991,409 
Total Increase (Decrease)  920,291  1,027,066 
Net Assets     
Beginning of Period  2,897,003  1,869,937 
End of Period1  3,817,294  2,897,003 

1 Net Assets—End of Period includes undistributed (overdistributed) net investment income of ($1,986,000) and $609,000.

See accompanying Notes, which are an integral part of the Financial Statements.
60


Large-Cap Index Fund

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  $16.41  $26.59  $25.42  $22.38  $21.41 
Investment Operations           
Net Investment Income  .387  .416  .426  .393  .328 
Net Realized and Unrealized Gain (Loss)           
on Investments  4.075  (10.191)  1.171  3.044  .970 
Total from Investment Operations  4.462  (9.775)  1.597  3.437  1.298 
Distributions           
Dividends from Net Investment Income  (.402)  (.405)  (.427)  (.397)  (.328) 
Distributions from Realized Capital Gains  —  —  —  —  — 
Total Distributions  (.402)  (.405)  (.427)  (.397)  (.328) 
Net Asset Value, End of Period  $20.47  $16.41  $26.59  $25.42  $22.38 
 
Total Return1  27.60%  -37.08%  6.29%  15.49%  6.12% 
 
Ratios/Supplemental Data           
Net Assets, End of Period (Millions)  $448  $376  $346  $211  $94 
Ratio of Total Expenses to           
Average Net Assets  0.26%  0.21%  0.20%  0.20%  0.20% 
Ratio of Net Investment Income to           
Average Net Assets  2.24%  2.12%  1.69%  1.74%  1.72% 
Portfolio Turnover Rate2  8%  9%  8%  9%  9% 

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,
including ETF Creation Units.

See accompanying Notes, which are an integral part of the Financial Statements.
61


Large-Cap Index Fund

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  $20.51  $33.25  $31.78  $27.98  $26.77 
Investment Operations           
Net Investment Income  .516  .547  .570  .514  .431 
Net Realized and Unrealized Gain (Loss)           
on Investments  5.097  (12.750)  1.470  3.806  1.209 
Total from Investment Operations  5.613  (12.203)  2.040  4.320  1.640 
Distributions           
Dividends from Net Investment Income  (.533)  (.537)  (.570)  (.520)  (.430) 
Distributions from Realized Capital Gains  —  —  —  —  — 
Total Distributions  (.533)  (.537)  (.570)  (.520)  (.430) 
Net Asset Value, End of Period  $25.59  $20.51  $33.25  $31.78  $27.98 
 
Total Return  27.80%  -37.05%  6.43%  15.58%  6.19% 
 
Ratios/Supplemental Data           
Net Assets, End of Period (Millions)  $328  $254  $220  $164  $71 
Ratio of Total Expenses to           
Average Net Assets  0.12%  0.10%  0.08%  0.12%  0.12% 
Ratio of Net Investment Income to           
Average Net Assets  2.38%  2.23%  1.81%  1.82%  1.80% 
Portfolio Turnover Rate1  8%  9%  8%  9%  9% 

1 Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares,
including ETF Creation Units.

See accompanying Notes, which are an integral part of the Financial Statements.
62


Large-Cap Index Fund

Financial Highlights

Signal Shares       
      Aug. 30, 
  Year Ended  20071 to 
  December 31,  Dec. 31, 
For a Share Outstanding Throughout Each Period  2009  2008  2007 
Net Asset Value, Beginning of Period  $17.89  $29.00  $28.74 
Investment Operations       
Net Investment Income  .451  .481  .173 
Net Realized and Unrealized Gain (Loss) on Investments  4.446  (11.121)  .361 
Total from Investment Operations  4.897  (10.640)  .534 
Distributions       
Dividends from Net Investment Income  (.467)  (.470)  (.274) 
Distributions from Realized Capital Gains  —  —  — 
Total Distributions  (.467)  (.470)  (.274) 
Net Asset Value, End of Period  $22.32  $17.89  $29.00 
 
Total Return  27.81%  -37.03%  1.85% 
 
Ratios/Supplemental Data       
Net Assets, End of Period (Millions)  $247  $102  $39 
Ratio of Total Expenses to Average Net Assets  0.12%  0.10%  0.08%2 
Ratio of Net Investment Income to Average Net Assets  2.38%  2.23%  1.81%2 
Portfolio Turnover Rate3  8%  9%  8% 

1 Inception.
2 Annualized.
3 Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares,
including ETF Creation Units.

See accompanying Notes, which are an integral part of the Financial Statements.
63


Large-Cap Index Fund

Financial Highlights

Institutional Shares           
          June 30, 
          20051 to 
  Year Ended December 31,   
For a Share Outstanding          Dec. 31, 
Throughout Each Period  2009  2008  2007  2006  2005 
Net Asset Value, Beginning of Period  $84.43  $136.82  $130.78  $115.14  $109.32 
Investment Operations           
Net Investment Income  2.160  2.283  2.344  2.151  .989 
Net Realized and Unrealized Gain (Loss)           
on Investments  20.973  (52.440)  6.047  15.660  5.863 
Total from Investment Operations  23.133  (50.157)  8.391  17.811  6.852 
Distributions           
Dividends from Net Investment Income  (2.233)  (2.233)  (2.351)  (2.171)  (1.032) 
Distributions from Realized Capital Gains  —  —  —  —  — 
Total Distributions  (2.233)  (2.233)  (2.351)  (2.171)  (1.032) 
Net Asset Value, End of Period  $105.33  $84.43  $136.82  $130.78  $115.14 
 
Total Return  27.84%  -37.01%  6.42%  15.61%  6.28% 
 
Ratios/Supplemental Data           
Net Assets, End of Period (Millions)  $306  $207  $103  $79  $83 
Ratio of Total Expenses to           
Average Net Assets  0.08%  0.07%  0.08%  0.08%  0.08%2 
Ratio of Net Investment Income to           
Average Net Assets  2.42%  2.26%  1.81%  1.86%  1.83%2 
Portfolio Turnover Rate3  8%  9%  8%  9%  9% 

1 Inception.
2 Annualized.
3 Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares,
including ETF Creation Units.

See accompanying Notes, which are an integral part of the Financial Statements.
64


Large-Cap Index Fund

Financial Highlights

ETF Shares           
 
For a Share Outstanding  Year Ended December 31, 
Throughout Each Period  2009  2008  2007  2006  2005 
Net Asset Value, Beginning of Period  $40.61  $65.83  $62.92  $55.40  $52.99 
Investment Operations           
Net Investment Income  1.022  1.098  1.136  1.044  .873 
Net Realized and Unrealized Gain (Loss)           
on Investments  10.095  (25.243)  2.912  7.529  2.410 
Total from Investment Operations  11.117  (24.145)  4.048  8.573  3.283 
Distributions           
Dividends from Net Investment Income  (1.057)  (1.075)  (1.138)  (1.053)  (.873) 
Distributions from Realized Capital Gains  —  —  —  —  — 
Total Distributions  (1.057)  (1.075)  (1.138)  (1.053)  (.873) 
Net Asset Value, End of Period  $50.67  $40.61  $65.83  $62.92  $55.40 
 
Total Return  27.80%  -37.02%  6.44%  15.61%  6.26% 
 
Ratios/Supplemental Data           
Net Assets, End of Period (Millions)  $2,489  $1,957  $1,162  $587  $178 
Ratio of Total Expenses to           
Average Net Assets  0.12%  0.07%  0.07%  0.07%  0.07% 
Ratio of Net Investment Income to           
Average Net Assets  2.38%  2.26%  1.82%  1.87%  1.84% 
Portfolio Turnover Rate1  8%  9%  8%  9%  9% 

1 Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares,
including ETF Creation Units.

See accompanying Notes, which are an integral part of the Financial Statements.
65


Large-Cap Index Fund

Notes to Financial Statements

Vanguard Large-Cap Index Fund is registered under the Investment Company Act of 1940 as an open-end investment company, or mutual fund. The fund offers five classes of shares: Investor Shares, Admiral Shares, Signal Shares, Institutional Shares, and ETF Shares. Investor Shares are available to any investor who meets the fund’s minimum purchase requirements. Admiral Shares are designed for investors who meet certain administrative, service, tenure, and account-size criteria. Signal Shares are designed for institutional investors who meet certain administrative, service, and account-size criteria. Institutional Shares are designed for investors who meet certain administrative and service criteria and invest a minimum amount of $5 million. ETF Shares are listed for trading on the NYSE Arca, Inc.; they can be purchased and sold through a broker.

A. The following significant accounting policies conform to generally accepted accounting principles for U.S. mutual funds. The fund consistently follows such policies in preparing its financial statements.

1. Security Valuation: Securities are valued as of the close of trading on the New York Stock Exchange (generally 4 p.m., Eastern time) on the valuation date. Equity securities are valued at the latest quoted sales prices or official closing prices taken from the primary market in which each security trades; such securities not traded on the valuation date are valued at the mean of the latest quoted bid and asked prices. Securities for which market quotations are not readily available, or whose values have been materially affected by events occurring before the fund’s pricing time but after the close of the securities’ primary markets, are valued by methods deemed by the board of trustees to represent fair value. Investments in Vanguard Market Liquidity Fund are valued at that fund’s net asset value. Temporary cash investments acquired over 60 days to maturity are valued using the latest bid prices or using valuations based on a matrix system (which considers such factors as security prices, yields, maturities, and ratings), both as furnished by independent pricing services. Other temporary cash investments are valued at amortized cost, which approximates market value.

2. Futures Contracts: The fund uses index futures contracts to a limited extent, with the objectives of maintaining full exposure to the stock market, enhancing returns, maintaining liquidity, and minimizing transaction costs. The fund may purchase futures contracts to immediately invest incoming cash in the market, or sell futures in response to cash outflows, thereby simulating a fully invested position in the underlying index while maintaining a cash balance for liquidity. The fund may seek to enhance returns by using futures contracts instead of the underlying securities when futures are believed to be priced more attractively than the underlying securities. The primary risks associated with the use of futures contracts are imperfect correlation between changes in market values of stocks held by the fund and the prices of futures contracts, and the possibility of an illiquid market.

Futures contracts are valued at their quoted daily settlement prices. The aggregate principal amounts of the contracts are not recorded in the Statement of Net Assets. Fluctuations in the value of the contracts are recorded in the Statement of Net Assets as an asset (liability) and in the Statement of Operations as unrealized appreciation (depreciation) until the contracts are closed, when they are recorded as realized futures gains (losses).

3. Federal Income Taxes: The fund intends to continue to qualify as a regulated investment company and distribute all of its taxable income. Management has analyzed the fund’s tax positions taken for all open federal income tax years (December 31, 2006–2009), and has concluded that no provision for federal income tax is required in the fund’s financial statements.

4. Distributions: Distributions to shareholders are recorded on the ex-dividend date.

66


Large-Cap Index Fund

5. Security Lending: The fund may lend its securities to qualified institutional borrowers to earn additional income. Security loans are required to be secured at all times by collateral at least equal to the market value of securities loaned. The fund invests cash collateral received in Vanguard Market Liquidity Fund, and records a liability for the return of the collateral, during the period the securities are on loan. Security lending income represents the income earned on investing cash collateral, less expenses associated with the loan.

6. Other: Dividend income is recorded on the ex-dividend date. Interest income includes income distributions received from Vanguard Market Liquidity Fund and is accrued daily. Security transactions are accounted for on the date securities are bought or sold. Costs used to determine realized gains (losses) on the sale of investment securities are those of the specific securities sold.

Each class of shares has equal rights as to assets and earnings, except that each class separately bears certain class-specific expenses related to maintenance of shareholder accounts (included in Management and Administrative expenses), shareholder reporting, and proxies. Marketing and distribution expenses are allocated to each class of shares based on a method approved by the board of trustees. Income, other non-class-specific expenses, and gains and losses on investments are allocated to each class of shares based on its relative net assets.

B. The Vanguard Group furnishes at cost investment advisory, corporate management, administrative, marketing, and distribution services. The costs of such services are allocated to the fund under methods approved by the board of trustees. The fund has committed to provide up to 0.40% of its net assets in capital contributions to Vanguard. At December 31, 2009, the fund had contributed capital of $752,000 to Vanguard (included in Other Assets), representing 0.02% of the fund’s net assets and 0.30% of

Vanguard’s capitalization. The fund’s trustees and officers are also directors and officers of Vanguard.

C. Various inputs may be used to determine the value of the fund’s investments. These inputs are summarized in three broad levels for financial statement purposes. The inputs or methodologies used to value securities are not necessarily an indication of the risk associated with investing in those securities.

Level 1—Quoted prices in active markets for identical securities.

Level 2—Other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).

Level 3—Significant unobservable inputs (including the fund’s own assumptions used to determine the fair value of investments).

The following table summarizes the fund’s investments as of December 31, 2009, based on the inputs used to value them:

  Level 1  Level 2  Level 3 
Investments  ($000)  ($000)  ($000) 
Common Stocks  3,809,005  —  — 
Temporary Cash Investments  10,899  1,999  — 
Futures Contracts—Liabilities1  (71)  —  — 
Total  3,819,833  1,999  — 

1 Represents variation margin on the last day of the reporting period.

67


Large-Cap Index Fund

D. At December 31, 2009, the aggregate settlement value of open futures contracts and the related unrealized appreciation (depreciation) were:

        ($000) 
    Number of  Aggregate  Unrealized 
    Long (Short)  Settlement  Appreciation 
Futures Contracts  Expiration  Contracts  Value  (Depreciation) 
S&P 500 Index  March 2010  25  6,942  41 

Unrealized appreciation (depreciation) on open futures contracts is required to be treated as realized gain (loss) for tax purposes.

E. Distributions are determined on a tax basis and may differ from net investment income and realized capital gains for financial reporting purposes. Differences may be permanent or temporary. Permanent differences are reclassified among capital accounts in the financial statements to reflect their tax character. Temporary differences arise when certain items of income, expense, gain, or loss are recognized in different periods for financial statement and tax purposes; these differences will reverse at some time in the future. Differences in classification may also result from the treatment of short-term gains as ordinary income for tax purposes.

During the year ended December 31, 2009, the fund realized $89,220,000 of net capital gains resulting from in-kind redemptions—in which shareholders exchanged fund shares for securities held by the fund rather than for cash. Because such gains are not taxable to the fund, and are not distributed to shareholders, they have been reclassified from accumulated net realized losses to paid-in capital.

For tax purposes, at December 31, 2009, the fund had $948,000 of ordinary income available for distribution. The fund had available capital loss carryforwards totaling $167,439,000 to offset future net capital gains of $11,000 through December 31, 2013, $463,000 through December 31, 2014, $1,570,000 through December 31, 2015, $48,005,000 through December 31, 2016, and $117,390,000 through December 31, 2017. In addition, the fund realized losses of $9,237,000 during the period from November 1, 2009, through December 31, 2009, which are deferred and will be treated as realized for tax purposes in fiscal 2010.

At December 31, 2009, the cost of investment securities for tax purposes was $3,880,318,000. Net unrealized depreciation of investment securities for tax purposes was $58,415,000, consisting of unrealized gains of $317,130,000 on securities that had risen in value since their purchase and $375,545,000 in unrealized losses on securities that had fallen in value since their purchase.

F. During the year ended December 31, 2009, the fund purchased $743,931,000 of investment securities and sold $618,377,000 of investment securities, other than temporary cash investments.

68


Large-Cap Index Fund

G. Capital share transactions for each class of shares were:

  Year Ended December 31, 
  2009  2008 
  Amount  Shares  Amount  Shares 
  ($000)  (000)  ($000)  (000) 
Investor Shares         
Issued  212,151  12,664  319,575  16,587 
Issued in Lieu of Cash Distributions  7,884  446  5,905  289 
Redeemed  (237,505)  (14,175)  (144,648)  (6,943) 
Net Increase (Decrease)—Investor Shares  (17,470)  (1,065)  180,832  9,933 
Admiral Shares         
Issued  132,003  6,333  243,749  10,451 
Issued in Lieu of Cash Distributions  5,459  246  3,746  146 
Redeemed  (125,868)  (6,164)  (118,604)  (4,819) 
Net Increase (Decrease)—Admiral Shares  11,594  415  128,891  5,778 
Signal Shares         
Issued  166,455  8,851  92,524  4,858 
Issued in Lieu of Cash Distributions  3,330  169  960  47 
Redeemed  (73,281)  (3,666)  (11,461)  (568) 
Net Increase (Decrease)—Signal Shares  96,504  5,354  82,023  4,337 
Institutional Shares         
Issued  87,330  999  237,128  2,272 
Issued in Lieu of Cash Distributions  5,678  62  3,618  35 
Redeemed  (55,203)  (610)  (73,050)  (606) 
Net Increase (Decrease)—Institutional Shares  37,805  451  167,696  1,701 
ETF Shares         
Issued  345,480  8,726  1,905,328  42,648 
Issued in Lieu of Cash Distributions  —  —  —  — 
Redeemed  (349,316)  (7,800)  (473,361)  (12,100) 
Net Increase (Decrease)—ETF Shares  (3,836)  926  1,431,967  30,548 

H. In preparing the financial statements as of December 31, 2009, management considered the impact of subsequent events occurring through February 10, 2010, for potential recognition or disclosure in these financial statements.

69


Total Stock Market Index Fund

Fund Profile
As of December 31, 2009

Share-Class Characteristics           
  Investor  Admiral  Signal  Institutional  ETF 
  Shares  Shares  Shares  Shares  Shares 
Ticker Symbol  VTSMX  VTSAX  VTSSX  VITSX  VTI 
Expense Ratio1  0.18%  0.09%  0.09%  0.06%  0.09% 
30-Day SEC Yield  1.61%  1.73%  1.73%  1.72%  1.73% 

Portfolio Characteristics     
    MSCI US 
    Broad Market 
  Fund  Index 
Number of Stocks  3,410  3,560 
Median Market Cap  $30.0B  $30.0B 
Price/Earnings Ratio  35.3x  35.4x 
Price/Book Ratio  2.1x  2.1x 
Return on Equity  19.4%  19.3% 
Earnings Growth Rate  8.4%  8.4% 
Dividend Yield  1.8%  1.8% 
Foreign Holdings  0.0%  0.0% 
Turnover Rate  5%  — 
Short-Term Reserves  0.0%  — 

Volatility Measures   
  MSCI US 
  Broad Market 
  Index 
R-Squared  1.00 
Beta  1.00 

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

Ten Largest Holdings (% of total net assets) 
Exxon Mobil Corp.  Integrated Oil &   
  Gas  2.7% 
Microsoft Corp.  Systems Software  2.0 
Apple Inc.  Computer   
  Hardware  1.5 
Johnson & Johnson  Pharmaceuticals  1.4 
Procter & Gamble Co.  Household   
  Products  1.4 
International Business  Computer   
Machines Corp.  Hardware  1.4 
AT&T Inc.  Integrated   
  Telecommunication   
  Services  1.3 
JPMorgan Chase & Co.  Diversified Financial   
  Services  1.3 
General Electric Co.  Industrial   
  Conglomerates  1.3 
Chevron Corp.  Integrated Oil &   
  Gas  1.3 
Top Ten    15.6% 

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

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, 0.07% for Signal Shares, 0.06% for Institutional Shares, and 0.07% for ETF Shares.

70


Total Stock Market Index Fund

Sector Diversification (% of equity exposure) 
    MSCI US 
    Broad Market 
  Fund  Index 
Consumer Discretionary  10.2%  10.2% 
Consumer Staples  9.8  9.8 
Energy  11.0  11.0 
Financials  15.3  15.3 
Health Care  12.6  12.6 
Industrials  11.0  10.9 
Information Technology  19.5  19.6 
Materials  3.9  3.9 
Telecommunication     
Services  2.9  2.9 
Utilities  3.8  3.8 

Investment Focus


71


Total Stock Market 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 
Total Stock Market Index Fund         
Investor Shares  28.70%  0.91%  -0.27%  $9,733 
 
 
– – – –  Spliced Total Stock  Market Index 28.76 0.99 -0.22 9,780
 _____  Multi-Cap  Core Funds Average 30.88 0.49 -0.17 9,835

Spliced Total Stock Market Index: Dow Jones Wilshire 5000 Index through April 22, 2005; MSCI US Broad Market Index thereafter.
Multi-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 
Total Stock Market Index Fund         
Admiral Shares  28.83%  1.00%  0.72%  $106,784 
Spliced Total Stock Market Index  28.76  0.99  0.73  106,913 

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.

72


Total Stock Market Index Fund

    Since  Final Value 
  One  Inception  of a $1,000,000 
  Year  (9/1/2006)  Investment 
Total Stock Market Index Fund       
Signal Shares  28.85%  -2.04%  $933,662 
MSCI US Broad Market Index  28.76  -2.06  932,900 

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

        Final Value 
  One  Five  Ten  of a $5,000,000 
  Year  Years  Years  Investment 
Total Stock Market Index Fund         
Institutional Shares  28.83%  1.04%  -0.15%  $4,923,526 
Spliced Total Stock Market Index  28.76  0.99  -0.22  4,889,989 

      Since  Final Value 
  One  Five  Inception  of a $10,000 
  Year  Years  (5/24/2001)  Investment 
Total Stock Market Index Fund         
ETF Shares Net Asset Value  28.82%  1.01%  1.21%  $11,095 
Spliced Total Stock Market Index  28.76  0.99  1.24  11,114 

Performance for the fund’s ETF Shares and comparative standards is calculated since the ETF Shares’ inception.
For more information about how the ETF Shares' market prices have compared with their net asset value, visit www.vanguard.com, select
your ETF, and then select the Performance tab. The Premium/Discount table there shows the percentages of days on which the ETF Shares'
market price was above or below the NAV.

Cumulative Returns of ETF Shares: May 24, 2001, Through December 31, 2009

  One  Five  Since 
  Year  Years  Inception 
Total Stock Market Index Fund       
ETF Shares Market Price  28.73%  5.26%  10.99% 
Total Stock Market Index Fund       
ETF Shares Net Asset Value  28.82  5.17  10.95 
Spliced Total Stock Market Index  28.76  5.07  11.14 

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

73


Total Stock Market Index Fund

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.

74


Total Stock Market Index Fund

Statement of Operations

The Statement of Net Assets—Investments Summary—an integral part of the Financial Statements for
Vanguard Total Stock Market Index Fund—is included as an insert to this report.

  Year Ended 
  December 31, 2009 
  ($000) 
Investment Income   
Income   
Dividends  2,213,612 
Interest1  2,515 
Security Lending  74,566 
Total Income  2,290,693 
Expenses   
The Vanguard Group—Note B   
Investment Advisory Services  3,101 
Management and Administrative—Investor Shares  66,997 
Management and Administrative—Admiral Shares  9,456 
Management and Administrative—Signal Shares  1,371 
Management and Administrative—Institutional Shares  3,276 
Management and Administrative—ETF Shares  3,118 
Marketing and Distribution—Investor Shares  12,059 
Marketing and Distribution—Admiral Shares  4,158 
Marketing and Distribution—Signal Shares  1,139 
Marketing and Distribution—Institutional Shares  3,416 
Marketing and Distribution—ETF Shares  2,930 
Custodian Fees  1,286 
Auditing Fees  30 
Shareholders’ Reports and Proxies—Investor Shares  1,579 
Shareholders’ Reports and Proxies—Admiral Shares  218 
Shareholders’ Reports and Proxies—Signal Shares  30 
Shareholders’ Reports and Proxies—Institutional Shares  86 
Shareholders’ Reports and Proxies—ETF Shares  690 
Trustees’ Fees and Expenses  178 
Total Expenses  115,118 
Net Investment Income  2,175,575 
Realized Net Gain (Loss)   
Investment Securities Sold  2,200,904 
Futures Contracts  107,822 
Realized Net Gain (Loss)  2,308,726 
Change in Unrealized Appreciation (Depreciation)   
Investment Securities  21,898,023 
Futures Contracts  (17,901) 
Change in Unrealized Appreciation (Depreciation)  21,880,122 
Net Increase (Decrease) in Net Assets Resulting from Operations  26,364,423 

1 Interest income from an affiliated company of the fund was $2,122,000.

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

75


Total Stock Market 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  2,175,575  2,044,784 
Realized Net Gain (Loss)  2,308,726  (1,937,103) 
Change in Unrealized Appreciation (Depreciation)  21,880,122  (43,532,330) 
Net Increase (Decrease) in Net Assets Resulting from Operations  26,364,423  (43,424,649) 
Distributions     
Net Investment Income     
Investor Shares  (1,040,191)  (958,719) 
Admiral Shares  (513,860)  (512,715) 
Signal Shares  (92,000)  (86,202) 
Institutional Shares  (294,741)  (271,636) 
ETF Shares  (249,604)  (208,428) 
Realized Capital Gain     
Investor Shares  —  — 
Admiral Shares  —  — 
Signal Shares  —  — 
Institutional Shares  —  — 
ETF Shares  —  — 
Total Distributions  (2,190,396)  (2,037,700) 
Capital Share Transactions     
Investor Shares  6,625,263  11,074,199 
Admiral Shares  3,502,702  2,389,384 
Signal Shares  76,072  886,845 
Institutional Shares  2,143,723  3,369,728 
ETF Shares  1,572,390  3,276,950 
Net Increase (Decrease) from Capital Share Transactions  13,920,150  20,997,106 
Total Increase (Decrease)  38,094,177  (24,465,243) 
Net Asset     
Beginning of Period  81,919,172  106,384,415 
End of Period1  120,013,349  81,919,172 

1 Net Assets—End of Period includes undistributed (overdistributed) net investment income of ($79,430,000) and ($64,609,000).

See accompanying Notes, which are an integral part of the Financial Statements.
76


Total Stock Market Index Fund

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  $21.80  $35.36  $34.09  $30.00  $28.77 
Investment Operations           
Net Investment Income  .514  .592  .604  .523  .466 
Net Realized and Unrealized Gain (Loss)           
on Investments  5.651  (13.566)  1.268  4.091  1.237 
Total from Investment Operations  6.165  (12.974)  1.872  4.614  1.703 
Distributions           
Dividends from Net Investment Income  (.515)  (.586)  (.602)  (.524)  (.473) 
Distributions from Realized Capital Gains  —  —  —  —  — 
Total Distributions  (.515)  (.586)  (.602)  (.524)  (.473) 
Net Asset Value, End of Period  $27.45  $21.80  $35.36  $34.09  $30.00 
 
Total Return1  28.70%  -37.04%  5.49%  15.51%  5.98% 
 
Ratios/Supplemental Data           
Net Assets, End of Period (Millions)  $58,004  $39,440  $50,183  $39,095  $29,785 
Ratio of Total Expenses to           
Average Net Assets  0.18%  0.16%  0.15%  0.19%  0.19% 
Ratio of Net Investment Income to           
Average Net Assets  2.22%  2.04%  1.71%  1.66%  1.62% 
Portfolio Turnover Rate2  5%  5%  4%  4%  12%3 

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,
including ETF Creation Units.
3 Includes activity related to a change in the fund’s target index.

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

77


Total Stock Market Index Fund

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  $21.80  $35.36  $34.09  $30.00  $28.77 
Investment Operations           
Net Investment Income  .539  .615  .631  .555  .495 
Net Realized and Unrealized Gain (Loss)           
on Investments  5.650  (13.566)  1.268  4.091  1.237 
Total from Investment Operations  6.189  (12.951)  1.899  4.646  1.732 
Distributions           
Dividends from Net Investment Income  (.539)  (.609)  (.629)  (.556)  (.502) 
Distributions from Realized Capital Gains  —  —  —  —  — 
Total Distributions  (.539)  (.609)  (.629)  (.556)  (.502) 
Net Asset Value, End of Period  $27.45  $21.80  $35.36  $34.09  $30.00 
 
Total Return  28.83%  -36.99%  5.57%  15.63%  6.09% 
 
Ratios/Supplemental Data           
Net Assets, End of Period (Millions)  $27,762  $18,781  $27,895  $26,853  $20,347 
Ratio of Total Expenses to           
Average Net Assets  0.07%  0.08%  0.07%  0.09%  0.09% 
Ratio of Net Investment Income to           
Average Net Assets  2.33%  2.12%  1.79%  1.76%  1.72% 
Portfolio Turnover Rate1  5%  5%  4%  4%  12%2 

1 Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares,
including ETF Creation Units.
2 Includes activity related to a change in the fund’s target index.

See accompanying Notes, which are an integral part of the Financial Statements.
78


Total Stock Market Index Fund

Financial Highlights

Signal Shares         
        Sept. 1, 
        20061 to 
  Year Ended December 31,  Dec. 31, 
For a Share Outstanding Throughout Each Period  2009  2008  2007  2006 
Net Asset Value, Beginning of Period  $21.04  $34.13  $32.91  $30.47 
Investment Operations         
Net Investment Income  .520  .595  .607  .181 
Net Realized and Unrealized Gain (Loss) on Investments  5.459  (13.096)  1.220  2.536 
Total from Investment Operations  5.979  (12.501)  1.827  2.717 
Distributions         
Dividends from Net Investment Income  (.519)  (.589)  (.607)  (.277) 
Distributions from Realized Capital Gains  —  —  —  — 
Total Distributions  (.519)  (.589)  (.607)  (.277) 
Net Asset Value, End of Period  $26.50  $21.04  $34.13  $32.91 
 
Total Return  28.85%  -36.99%  5.55%  8.95% 
 
Ratios/Supplemental Data         
Net Assets, End of Period (Millions)  $4,757  $3,717  $4,655  $381 
Ratio of Total Expenses to Average Net Assets  0.07%  0.08%  0.07%  0.09%2 
Ratio of Net Investment Income to Average Net Assets  2.33%  2.12%  1.79%  1.76%2 
Portfolio Turnover Rate3  5%  5%  4%  4% 

1 Inception.
2 Annualized.
3 Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares,
including ETF Creation Units.

See accompanying Notes, which are an integral part of the Financial Statements.
79


Total Stock Market Index Fund

Financial Highlights

Institutional Shares           
 
For a Share Outstanding  Year Ended December 31, 
Throughout Each Period  2009  2008  2007  2006  2005 
Net Asset Value, Beginning of Period  $21.81  $35.36  $34.10  $30.00  $28.77 
Investment Operations           
Net Investment Income  .541  .624  .638  .573  .504 
Net Realized and Unrealized Gain (Loss)           
on Investments  5.650  (13.557)  1.260  4.091  1.237 
Total from Investment Operations  6.191  (12.933)  1.898  4.664  1.741 
Distributions           
Dividends from Net Investment Income  (.541)  (.617)  (.638)  (.564)  (.511) 
Distributions from Realized Capital Gains  —  —  —  —  — 
Total Distributions  (.541)  (.617)  (.638)  (.564)  (.511) 
Net Asset Value, End of Period  $27.46  $21.81  $35.36  $34.10  $30.00 
 
Total Return  28.83%  -36.94%  5.56%  15.69%  6.12% 
 
Ratios/Supplemental Data           
Net Assets, End of Period (Millions)  $16,047  $10,782  $13,396  $12,262  $9,676 
Ratio of Total Expenses to           
Average Net Assets  0.06%  0.05%  0.05%  0.06%  0.06% 
Ratio of Net Investment Income to           
Average Net Assets  2.34%  2.15%  1.81%  1.79%  1.75% 
Portfolio Turnover Rate1  5%  5%  4%  4%  12%2 

1 Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares,
including ETF Creation Units.
2 Includes activity related to a change in the fund’s target index.

See accompanying Notes, which are an integral part of the Financial Statements.
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Total Stock Market Index Fund

Financial Highlights

ETF Shares           
 
For a Share Outstanding  Year Ended December 31, 
Throughout Each Period  2009  20081  20071  20061  20051 
Net Asset Value, Beginning of Period  $44.78  $72.64  $70.04  $61.63  $59.11 
Investment Operations           
Net Investment Income  1.106  1.270  1.298  1.152  1.027 
Net Realized and Unrealized Gain (Loss)           
on Investments  11.611  (27.874)  2.600  8.409  2.535 
Total from Investment Operations  12.717  (26.604)  3.898  9.561  3.562 
Distributions           
Dividends from Net Investment Income  (1.107)  (1.256)  (1.298)  (1.151)  (1.042) 
Distributions from Realized Capital Gains  —  —  —  —  — 
Total Distributions  (1.107)  (1.256)  (1.298)  (1.151)  (1.042) 
Net Asset Value, End of Period  $56.39  $44.78  $72.64  $70.04  $61.63 
 
Total Return  28.82%  -36.97%  5.56%  15.66%  6.10% 
 
Ratios/Supplemental Data           
Net Assets, End of Period (Millions)  $13,443  $9,199  $10,255  $6,885  $5,612 
Ratio of Total Expenses to           
Average Net Assets  0.07%  0.07%  0.07%  0.07%  0.07% 
Ratio of Net Investment Income to           
Average Net Assets  2.33%  2.13%  1.79%  1.78%  1.74% 
Portfolio Turnover Rate2  5%  5%  4%  4%  12%3 

1 Adjusted to reflect a 2-for-1 share split as of the close of business on June 13, 2008.
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,
including ETF Creation Units.
3 Includes activity related to a change in the fund’s target index.

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

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Total Stock Market Index Fund

Notes to Financial Statements

Vanguard Total Stock Market Index Fund is registered under the Investment Company Act of 1940 as an open-end investment company, or mutual fund. The fund offers five classes of shares: Investor

Shares, Admiral Shares, Signal Shares, Institutional Shares, and ETF Shares. Investor Shares are available to any investor who meets the fund’s minimum purchase requirements. Admiral Shares are designed for investors who meet certain administrative, service, tenure, and account-size criteria.

Signal Shares are designed for institutional investors who meet certain administrative, service, and account-size criteria. Institutional Shares are designed for investors who meet certain administrative and service criteria and invest a minimum amount of $5 million. ETF Shares are listed for trading on the NYSE Arca, Inc.; they can be purchased and sold through a broker.

A. The following significant accounting policies conform to generally accepted accounting principles for U.S. mutual funds. The fund consistently follows such policies in preparing its financial statements.

1. Security Valuation: Securities are valued as of the close of trading on the New York Stock Exchange (generally 4 p.m., Eastern time) on the valuation date. Equity securities are valued at the latest quoted sales prices or official closing prices taken from the primary market in which each security trades; such securities not traded on the valuation date are valued at the mean of the latest quoted bid and asked prices. Securities for which market quotations are not readily available, or whose values have been materially affected by events occurring before the fund’s pricing time but after the close of the securities’ primary markets, are valued by methods deemed by the board of trustees to represent fair value. Investments in Vanguard Market Liquidity Fund are valued at that fund’s net asset value. Temporary cash investments acquired over 60 days to maturity are valued using the latest bid prices or using valuations based on a matrix system (which considers such factors as security prices, yields, maturities, and ratings), both as furnished by independent pricing services. Other temporary cash investments are valued at amortized cost, which approximates market value.

2. Futures Contracts: The fund uses index futures contracts to a limited extent, with the objectives of maintaining full exposure to the stock market, enhancing returns, maintaining liquidity, and minimizing transaction costs. The fund may purchase futures contracts to immediately invest incoming cash in the market, or sell futures in response to cash outflows, thereby simulating a fully invested position in the underlying index while maintaining a cash balance for liquidity. The fund may seek to enhance returns by using futures contracts instead of the underlying securities when futures are believed to be priced more attractively than the underlying securities. The primary risks associated with the use of futures contracts are imperfect correlation between changes in market values of stocks held by the fund and the prices of futures contracts, and the possibility of an illiquid market.

Futures contracts are valued at their quoted daily settlement prices. The aggregate principal amounts of the contracts are not recorded in the Statement of Net Assets. Fluctuations in the value of the contracts are recorded in the Statement of Net Assets as an asset (liability) and in the Statement of Operations as unrealized appreciation (depreciation) until the contracts are closed, when they are recorded as realized futures gains (losses).

3. Federal Income Taxes: The fund intends to continue to qualify as a regulated investment company and distribute all of its taxable income. Management has analyzed the fund’s tax positions taken for all open federal income tax years (December 31, 2006–2009), and has concluded that no provision for federal income tax is required in the fund’s financial statements.

4. Distributions: Distributions to shareholders are recorded on the ex-dividend date.

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Total Stock Market Index Fund

5. Security Lending: The fund may lend its securities to qualified institutional borrowers to earn additional income. Security loans are required to be secured at all times by collateral at least equal to the market value of securities loaned. The fund invests cash collateral received in Vanguard Market Liquidity Fund, and records a liability for the return of the collateral, during the period the securities are on loan. Security lending income represents the income earned on investing cash collateral, less expenses associated with the loan.

6. Other: Dividend income is recorded on the ex-dividend date. Interest income includes income distributions received from Vanguard Market Liquidity Fund and is accrued daily. Security transactions are accounted for on the date securities are bought or sold. Costs used to determine realized gains (losses) on the sale of investment securities are those of the specific securities sold.

Each class of shares has equal rights as to assets and earnings, except that each class separately bears certain class-specific expenses related to maintenance of shareholder accounts (included in Management and Administrative expenses), shareholder reporting, and proxies. Marketing and distribution expenses are allocated to each class of shares based on a method approved by the board of trustees. Income, other non-class-specific expenses, and gains and losses on investments are allocated to each class of shares based on its relative net assets.

B. The Vanguard Group furnishes at cost investment advisory, corporate management, administrative, marketing, and distribution services. The costs of such services are allocated to the fund under method approved by the board of trustees. The fund has committed to provide up to 0.40% of its net assets in capital contributions to Vanguard. At December 31, 2009, the fund had contributed capital of $23,356,000 to Vanguard (included in Other Assets), representing 0.02% of the fund’s net assets and 9.34% of

Vanguard’s capitalization. The fund’s trustees and officers are also directors and officers of Vanguard.

C. Various inputs may be used to determine the value of the fund’s investments. These inputs are summarized in three broad levels for financial statement purposes. The inputs or methodologies used to value securities are not necessarily an indication of the risk associated with investing in those securities.

Level 1—Quoted prices in active markets for identical securities.

Level 2—Other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).

Level 3—Significant unobservable inputs (including the fund’s own assumptions used to determine the fair value of investments).

The following table summarizes the fund’s investments as of December 31, 2009, based on the inputs used to value them:

  Level 1  Level 2  Level 3 
Investments  ($000)  ($000)  ($000) 
Common Stocks  119,811,375  74  105 
Convertible Preferred Stocks  617  —  — 
Temporary Cash Investments  666,333  20,989  — 
Futures Contracts—Assets1  245  —  — 
Futures Contracts—Liabilities1  (2,956)  —  — 
Total  120,475,614  21,063  105 
1 Represents variation margin on the last day of the reporting period.

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Total Stock Market Index Fund

The following table summarizes changes in investments valued based on Level 3 inputs during the year ended December 31, 2009:

  Investments in 
  Common Stocks 
Amount Valued Based on Level 3 Inputs  ($000) 
Balance as of December 31, 2008  — 
Transfers into Level 3  105 
Balance as of December 31, 2009  105 

D. At December 31, 2009, the aggregate settlement value of open futures contracts and the related unrealized appreciation (depreciation) were:

      ($000) 
    Number of  Aggregate  Unrealized 
    Long (Short)  Settlement  Appreciation 
Futures Contracts  Expiration  Contracts  Value  (Depreciation) 
E-mini S&P 500 Index  March 2010  1,830  101,629  (648) 
E-mini Russell 2000 Index  March 2010  820  51,160  1,462 
S&P 500 Index  March 2010  161  44,706  544 
S&P MidCap 400 Index  March 2010  92  33,345  628 

Unrealized appreciation (depreciation) on open futures contracts is required to be treated as realized gain (loss) for tax purposes.

E. Distributions are determined on a tax basis and may differ from net investment income and realized capital gains for financial reporting purposes. Differences may be permanent or temporary. Permanent differences are reclassified among capital accounts in the financial statements to reflect their tax character. Temporary differences arise when certain items of income, expense, gain, or loss are recognized in different periods for financial statement and tax purposes; these differences will reverse at some time in the future. Differences in classification may also result from the treatment of short-term gains as ordinary income for tax purposes.

During the year ended December 31, 2009, the fund realized $512,933,000 of net capital gains resulting from in-kind redemptions—in which shareholders exchanged fund shares for securities held by the fund rather than for cash. Because such gains are not taxable to the fund, and are not distributed to shareholders, they have been reclassified from accumulated net realized losses to paid-in capital.

In December 2007, the fund issued 17,301,549 capital shares for a value of $583,408,000 in connection with a nontaxable in-kind transfer of investment securities from a common trust fund.

The securities received in the transfer had net unrealized appreciation, creating a difference between the cost of investments for financial statement and tax purpose that reverses when the securities are sold; $129,420,000 of this difference remained at December 31, 2008. Through December 31, 2009, the fund realized tax-based gains on the sale of these securities that were $69,672,000 greater than

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Total Stock Market Index Fund

realized gains for financial statement purposes; accordingly, such gains have been reclassified from paid-in-capital to accumulated net realized losses. The remaining difference of $59,748,000 between the securities’ cost for financial statement and tax purposes is reflected in unrealized appreciation.

For tax purposes, at December 31, 2009, the fund had $26,481,000 of ordinary income available for distribution. The fund had available capital loss carryforwards totaling $2,683,915,000 to offset future net capital gains of $400,913,000 through December 31, 2013, $19,516,000 through December 31, 2015, and $2,263,486,000 through December 31, 2016.

At December 31, 2009, the cost of investment securities for tax purposes was $121,806,790,000. Net unrealized depreciation of investment securities for tax purposes was $1,307,297,000, consisting of unrealized gains of $15,924,291,000 on securities that had risen in value since their purchase and $17,231,588,000 in unrealized losses on securities that had fallen in value since their purchase.

F. During the year ended December 31, 2009, the fund purchased $20,595,382,000 of investment securities and sold $6,053,334,000 of investment securities, other than temporary cash investments.

G. Capital share transactions for each class of shares were:       
  Year Ended December 31, 
  2009  2008 
  Amount  Shares  Amount  Shares 
  ($000)  (000)  ($000)  (000) 
Investor Shares         
Issued  13,704,175  613,438  18,977,196  674,286 
Issued in Lieu of Cash Distributions  1,027,960  43,501  946,239  34,441 
Redeemed  (8,106,872)  (352,832)  (8,849,236)  (319,034) 
Net Increase (Decrease)—Investor Shares  6,625,263  304,107  11,074,199  389,693 
Admiral Shares         
Issued  6,218,375  270,647  6,249,442  220,660 
Issued in Lieu of Cash Distributions  443,938  18,729  448,085  16,133 
Redeemed  (3,159,611)  (139,499)  (4,308,143)  (164,335) 
Net Increase (Decrease)—Admiral Shares  3,502,702  149,877  2,389,384  72,458 
Signal Shares         
Issued  1,437,692  66,128  2,028,953  83,738 
Issued in Lieu of Cash Distributions  84,769  3,719  78,091  2,944 
Redeemed  (1,446,389)  (66,963)  (1,220,199)  (46,428) 
Net Increase (Decrease)—Signal Shares  76,072  2,884  886,845  40,254 
Institutional Shares         
Issued  4,339,078  187,044  5,833,727  205,199 
Issued in Lieu of Cash Distributions  262,034  11,047  228,684  8,376 
Redeemed  (2,457,389)  (108,092)  (2,692,683)  (97,957) 
Net Increase (Decrease)—Institutional Shares  2,143,723  89,999  3,369,728  115,618 

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Total Stock Market Index Fund

  Year Ended December 31, 
  2009  2008 
  Amount  Shares  Amount  Shares 
  ($000)  (000)  ($000)  (000) 
ETF Shares         
Issued  2,229,514  47,357  5,060,470  94,5371 
Issued in Lieu of Cash Distributions  —  —  —  — 
Redeemed  (657,124)  (14,400)  (1,783,520)  (30,300)1 
Net Increase (Decrease)—ETF Shares  1,572,390  32,957  3,276,950  64,2371 

1 Shares adjusted to reflect a 2-for-1 split as of close of business on June 13, 2008.

H. In preparing the financial statements as of December 31, 2009, management considered the impact of subsequent events occurring through February 10, 2010, for potential recognition or disclosure in these financial statements.

86


Report of Independent Registered
Public Accounting Firm

To the Trustees of Vanguard Index Funds and the Shareholders of Vanguard Growth Index Fund, Vanguard Value Index Fund, Vanguard Large-Cap Index Fund and Vanguard Total Stock Market Index Fund:

In our opinion, the accompanying statements of net assets appearing herein, the statement of net assets and the statement of net assets—investments summary appearing in the inserts to this annual report and the related statements of operations and of changes in net assets and the financial highlights present fairly, in all material respects, the financial position of Vanguard Growth Index Fund, Vanguard Value Index Fund, Vanguard Large-Cap Index Fund and Vanguard Total Stock Market Index Fund (constituting separate portfolios of Vanguard Index Funds, hereafter referred to as the “Funds”) at December 31, 2009, the results of each of their operations for the year then ended, the changes in each of their net assets for each of the two years in the period then ended and the financial highlights for each of the periods indicated, in conformity with accounting principles generally accepted in the United States of America. These financial statements and financial highlights (hereafter referred to as “financial statements”) are the responsibility of the Funds’ management; our responsibility is to express an opinion on these financial statements based on our audits. We conducted our audits of these financial statements in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, and evaluating the overall financial statement presentation. We believe that our audits, which included confirmation of securities at December 31, 2009 by correspondence with the custodian and broker and by agreement to the underlying ownership records of Vanguard Market Liquidity Fund, provide a reasonable basis for our opinion.

PricewaterhouseCoopers LLP
Philadelphia, Pennsylvania

February 10, 2010

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Special 2009 tax information (unaudited) for Vanguard U.S. Stock Index Funds
(Large-Capitalization Portfolios)

This information for the fiscal year ended December 31, 2009, is included pursuant to provisions of the Internal Revenue Code.

The funds distributed qualified dividend income to shareholders during the fiscal year as follows:

  Qualified Dividend Income 
Index Fund  ($000) 
Growth  172,972 
Value  312,775 
Large-Cap  79,690 
Total Stock Market  2,190,396 

For corporate shareholders, the percentage of investment income (dividend income plus short-term gains, if any) that qualifies for the dividends-received deduction is as follows:

Index Fund  Percentage 
Growth  100.0% 
Value  95.9 
Large-Cap  97.1 
Total Stock Market  96.7 

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Your Fund’s After-Tax Returns

This table presents returns for your fund both before and after taxes. The after-tax returns are shown in two ways: (1) assuming that an investor owned the fund during the entire period and paid taxes on the fund’s distributions, and (2) assuming that an investor paid taxes on the fund’s distributions and sold all shares at the end of each period.

Calculations are based on the highest individual federal income tax and capital gains tax rates in effect at the times of the distributions and the hypothetical sales. State and local taxes were not considered. After-tax returns reflect any qualified dividend income . (In the example, returns after the sale of fund shares may be higher than those assuming no sale. This occurs when the sale would have produced a capital loss. The calculation assumes that the investor received a tax deduction for the loss.) The table shows returns for Investor Shares only; returns for other share classes will differ. Please note that your actual after-tax returns will depend on your tax situation and may differ from those shown. Also note that if you own the fund in a tax-deferred account, such as an individual retirement account or a 401(k) plan, this information does not apply to you. Such accounts are not subject to current taxes.

Finally, keep in mind that a fund’s performance—whether before or after taxes—does not guarantee future results.

Average Annual Total Returns: U.S. Stock Index Funds Large-Capitalization Portfolios
Periods Ended December 31, 2009

  One  Five  Ten 
  Year  Years  Years 
Growth Index Fund Investor Shares       
Returns Before Taxes  36.29%  1.63%  -2.75% 
Returns After Taxes on Distributions  36.04  1.48  -2.93 
Returns After Taxes on Distributions and Sale of Fund Shares  23.84  1.38  -2.35 
 
  One  Five  Ten 
  Year  Years  Years 
Value Index Fund Investor Shares       
Returns Before Taxes  19.58%  0.05%  1.23% 
Returns After Taxes on Distributions  19.01  -0.37  0.50 
Returns After Taxes on Distributions and Sale of Fund Shares  13.31  0.07  0.80 
 
      Since 
  One  Five  Inception 
  Year  Years  (1/30/2004) 
Large-Cap Index Fund Investor Shares       
Returns Before Taxes  27.60%  0.90%  2.26% 
Returns After Taxes on Distributions  27.17  0.63  1.98 
Returns After Taxes on Distributions and Sale of Fund Shares  18.39  0.77  1.92 

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

89


Average Annual Total Returns: U.S. Stock Index Funds Large-Capitalization Portfolios

Periods Ended December 31, 2009

  One  Five  Ten 
  Year  Years  Years 
Total Stock Market Index Fund Investor Shares       
Returns Before Taxes  28.70%  0.91%  -0.27% 
Returns After Taxes on Distributions  28.28  0.63  -0.61 
Returns After Taxes on Distributions and Sale of Fund Shares  19.09  0.78  -0.33 

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

90


About Your Fund’s Expenses

As a shareholder of the fund, you incur ongoing costs, which include costs for portfolio management, administrative services, and shareholder reports (like this one), among others. Operating expenses, which are deducted from a fund’s gross income, directly reduce the investment return of the fund.

A fund’s expenses are expressed as a percentage of its average net assets. This figure is known as the expense ratio. The following examples are intended to help you understand the ongoing costs (in dollars) of investing in your fund and to compare these costs with those of other mutual funds. The examples are based on an investment of $1,000 made at the beginning of the period shown and held for the entire period.

The accompanying table illustrates your fund’s costs in two ways:

• Based on actual fund return. This section helps you to estimate the actual expenses that you paid over the period. The ”Ending Account Value“ shown is derived from the fund‘s actual return, and the third column shows the dollar amount that would have been paid by an investor who started with $1,000 in the fund. You may use the information here, together with the amount you invested, to estimate the expenses that you paid over the period.

To do so, simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number given for your fund under the heading ”Expenses Paid During Period.“

• Based on hypothetical 5% yearly return. This section is intended to help you compare your fund‘s costs with those of other mutual funds. It assumes that the fund had a yearly return of 5% before expenses, but that the expense ratio is unchanged. In this case—because the return used is not the fund’s actual return—the results do not apply to your investment. The example is useful in making comparisons because the Securities and Exchange Commission requires all mutual funds to calculate expenses based on a 5% return. You can assess your fund’s costs by comparing this hypothetical example with the hypothetical examples that appear in shareholder reports of other funds.

Note that the expenses shown in the table are meant to highlight and help you compare ongoing costs only and do not reflect transaction costs incurred by the fund for buying and selling securities. Further, the expenses do not include the account service fee described in the prospectus. If such a fee were applied to your account, your costs would be higher. Your fund does not charge transaction fees, such as purchase or redemption fees, nor does it carry a “sales load.” The calculations assume no shares were bought or sold during the period. Your actual costs may have been higher or lower, depending on the amount of your investment and the timing of any purchases or redemptions.

You can find more information about the fund’s expenses, including annual expense ratios, in the Financial Statements section of this report. For additional information on operating expenses and other shareholder costs, please refer to your fund’s current prospectus.

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Six Months Ended December 31, 2009       
  Beginning  Ending  Expenses 
  Account Value  Account Value  Paid During 
  6/30/2009  12/31/2009  Period 
Based on Actual Fund Return       
Growth Index Fund       
Investor Shares  $1,000.00  $1,231.31  $1.57 
Admiral Shares  1,000.00  1,232.24  0.73 
Signal Shares  1,000.00  1,232.33  0.73 
Institutional Shares  1,000.00  1,232.57  0.39 
ETF Shares  1,000.00  1,232.43  0.73 
Value Index Fund       
Investor Shares  $1,000.00  $1,225.61  $1.46 
Admiral Shares  1,000.00  1,226.40  0.73 
Signal Shares  1,000.00  1,226.51  0.73 
Institutional Shares  1,000.00  1,226.80  0.39 
ETF Shares  1,000.00  1,226.27  0.73 
Large-Cap Index Fund       
Investor Shares  $1,000.00  $1,228.32  $1.46 
Admiral Shares  1,000.00  1,228.95  0.56 
Signal Shares  1,000.00  1,228.79  0.56 
Institutional Shares  1,000.00  1,229.32  0.39 
ETF Shares  1,000.00  1,228.91  0.62 
Total Stock Market Index Fund       
Investor Shares  $1,000.00  $1,232.74  $1.01 
Admiral Shares  1,000.00  1,233.42  0.28 
Signal Shares  1,000.00  1,233.51  0.28 
Institutional Shares  1,000.00  1,233.28  0.34 
ETF Shares  1,000.00  1,233.22  0.28 

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Six Months Ended December 31, 2009       
  Beginning  Ending  Expenses 
  Account Value  Account Value  Paid During 
  6/30/2009  12/31/2009  Period 
Based on Hypothetical 5% Yearly Return       
Growth Index Fund       
Investor Shares  $1,000.00  $1,023.79  $1.43 
Admiral Shares  1,000.00  1,024.55  0.66 
Signal Shares  1,000.00  1,024.55  0.66 
Institutional Shares  1,000.00  1,024.85  0.36 
ETF Shares  1,000.00  1,024.55  0.66 
Value Index Fund       
Investor Shares  $1,000.00  $1,023.89  $1.33 
Admiral Shares  1,000.00  1,024.55  0.66 
Signal Shares  1,000.00  1,024.55  0.66 
Institutional Shares  1,000.00  1,024.85  0.36 
ETF Shares  1,000.00  1,024.55  0.66 
Large-Cap Index Fund       
Investor Shares  $1,000.00  $1,023.89  $1.33 
Admiral Shares  1,000.00  1,024.70  0.51 
Signal Shares  1,000.00  1,024.70  0.51 
Institutional Shares  1,000.00  1,024.85  0.36 
ETF Shares  1,000.00  1,024.65  0.56 
Total Stock Market Index Fund       
Investor Shares  $1,000.00  $1,024.30  $0.92 
Admiral Shares  1,000.00  1,024.95  0.26 
Signal Shares  1,000.00  1,024.95  0.26 
Institutional Shares  1,000.00  1,024.90  0.31 
ETF Shares  1,000.00  1,024.95  0.26 

The calculations are based on expenses incurred in the most recent six-month period. The funds’ annualized six-month expense ratios for that
period are: for the Growth Index Fund, 0.28% for Investor Shares, 0.13% for Admiral Shares, 0.13% for Signal Shares, 0.07% for Institutional
Shares, and 0.13% for ETF Shares; for the Value Index Fund, 0.26% for Investor Shares, 0.13% for Admiral Shares, 0.13% for Signal Shares,
0.07% for Institutional Shares, and 0.13% for ETF Shares; for the Large-Cap Index Fund, 0.26% for Investor Shares, 0.10% for Admiral Shares,
0.10% for Signal Shares, 0.07% for Institutional Shares, and 0.11% for ETF Shares; and for the Total Stock Market Index Fund, 0.18% for
Investor Shares, 0.05% for Admiral Shares, 0.05% for Signal Shares, 0.06% for Institutional Shares, and 0.05% for ETF Shares. The dollar
amounts shown as “Expenses Paid” are equal to the annualized expense ratio multiplied by the average account value over the period,
multiplied by the number of days in the most recent six-month period, then divided by the number of days in the most recent 12-month period.

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Glossary

30-Day SEC Yield. A fund’s 30-day SEC yield is derived using a formula specified by the U.S. Securities and Exchange Commission. Under the formula, data related to the fund’s security holdings in the previous 30 days are used to calculate the fund’s hypothetical net income for that period, which is then annualized and divided by the fund’s estimated average net assets over the calculation period. For the purposes of this calculation, a security’s income is based on its current market yield to maturity (in the case of bonds) or its projected dividend yield (for stocks). Because the SEC yield represents hypothetical annualized income, it will differ—at times significantly—from the fund’s actual experience. As a result, the fund’s income distributions may be higher or lower than implied by the SEC yield.

Beta. A measure of the magnitude of a fund’s past share-price fluctuations in relation to the ups and downs of a given market index. The index is assigned a beta of 1.00. Compared with a given index, a fund with a beta of 1.20 typically would have seen its share price rise or fall by 12% when the index rose or fell by 10%. For this report, beta is based on returns over the past 36 months for both the fund and the index. Note that a fund’s beta should be reviewed in conjunction with its R-squared (see definition). The lower the R-squared, the less correlation there is between the fund and the index, and the less reliable beta is as an indicator of volatility.

Dividend Yield. Dividend income earned by stocks, expressed as a percentage of the aggregate market value (or of net asset value, for a fund). The yield is determined by dividing the amount of the annual dividends by the aggregate value (or net asset value) at the end of the period. For a fund, the dividend yield is based solely on stock holdings and does not include any income produced by other investments.

Earnings Growth Rate. The average annual rate of growth in earnings over the past five years for the stocks now in a fund.

Equity Exposure. A measure that reflects a fund’s investments in stocks and stock futures. Any holdings in short-term reserves are excluded.

Expense Ratio. The percentage of a fund’s average net assets used to pay its annual administrative and advisory expenses. These expenses directly reduce returns to investors.

Foreign Holdings. The percentage of a fund represented by stocks or depositary receipts of companies based outside the United States.

Inception Date. The date on which the assets of a fund (or one of its share classes) are first invested in accordance with the fund’s investment objective. For funds with a subscription period, the inception date is the day after that period ends. Investment performance is measured from the inception date.

Median Market Cap. An indicator of the size of companies in which a fund invests; the midpoint of market capitalization (market price x shares outstanding) of a fund’s stocks, weighted by the proportion of the fund’s assets invested in each stock. Stocks representing half of the fund’s assets have market capitalizations above the median, and the rest are below it.

Price/Book Ratio. The share price of a stock divided by its net worth, or book value, per share. For a fund, the weighted average price/book ratio of the stocks it holds.

94


Price/Earnings Ratio. The ratio of a stock’s current price to its per-share earnings over the past year. For a fund, the weighted average P/E of the stocks it holds. P/E is an indicator of market expectations about corporate prospects; the higher the P/E, the greater the expectations for a company’s future growth.

R-Squared. A measure of how much of a fund’s past returns can be explained by the returns from the market in general, as measured by a given index. If a fund’s total returns were precisely synchronized with an index’s returns, its R-squared would be 1.00. If the fund’s returns bore no relationship to the index’s returns, its R-squared would be 0. For this report, R-squared is based on returns over the past 36 months for both the fund and the index.

Return on Equity. The annual average rate of return generated by a company during the past five years for each dollar of shareholder’s equity (net income divided by shareholder’s equity). For a fund, the weighted average return on equity for the companies whose stocks it holds.

Short-Term Reserves. The percentage of a fund invested in highly liquid, short-term securities that can be readily converted to cash.

Turnover Rate. An indication of the fund’s trading activity. Funds with high turnover rates incur higher transaction costs and may be more likely to distribute capital gains (which may be taxable to investors). The turnover rate excludes in-kind transactions, which have minimal impact on costs.

95


The People Who Govern Your Fund

The trustees of your mutual fund are there to see that the fund is operated and managed in your best interests since, as a shareholder, you are a part owner of the fund. Your fund’s trustees also serve on the board of directors of The Vanguard Group, Inc., which is owned by the Vanguard funds and provides services to them on an at-cost basis.

A majority of Vanguard’s board members are independent, meaning that they have no affiliation with Vanguard or the funds they oversee, apart from the sizable personal investments they have made as private individuals. The independent board members have distinguished backgrounds in business, academia, and public service. Each of the trustees and executive officers oversees 163 Vanguard funds.

The following table provides information for each trustee and executive officer of the fund. More information about the trustees is in the Statement of Additional Information, which can be obtained, without charge, by contacting Vanguard at 800-662-7447, or online at www.vanguard.com.

Interested Trustee1  Rajiv L. Gupta 
  Born 1945. Trustee Since December 2001.2 Principal 
F. William McNabb III  Occupation(s) During the Past Five Years: Chairman 
Born 1957. Trustee Since July 2009. Chairman of the  and Chief Executive Officer (retired 2009) and President 
Board. Principal Occupation(s) During the Past Five  (2006–2008) of Rohm and Haas Co. (chemicals); Board 
Years: Chairman of the Board of The Vanguard Group,  Member of American Chemistry Council; Director of 
Inc., and of each of the investment companies served  Tyco International, Ltd. (diversified manufacturing and 
by The Vanguard Group, since January 2010; Director of  services) and Hewlett-Packard Co. (electronic computer 
The Vanguard Group since 2008; Chief Executive Officer  manufacturing); Trustee of The Conference Board. 
and President of The Vanguard Group and of each of the   
investment companies served by The Vanguard Group  Amy Gutmann 
since 2008; Director of Vanguard Marketing Corporation;  Born 1949. Trustee Since June 2006. Principal 
Managing Director of The Vanguard Group (1995–2008).  Occupation(s) During the Past Five Years: President of 
  the University of Pennsylvania; Christopher H. Browne 
  Distinguished Professor of Political Science in the School 
Independent Trustees  of Arts and Sciences with secondary appointments 
  at the Annenberg School for Communication and the 
Emerson U. Fullwood  Graduate School of Education of the University of 
Born 1948. Trustee Since January 2008. Principal  Pennsylvania; Director of Carnegie Corporation of 
Occupation(s) During the Past Five Years: Executive  New York, Schuylkill River Development Corporation, 
Chief Staff and Marketing Officer for North America  and Greater Philadelphia Chamber of Commerce; 
and Corporate Vice President (retired 2008) of Xerox  Trustee of the National Constitution Center. 
Corporation (photocopiers and printers); Director of   
SPX Corporation (multi-industry manufacturing), the   
United Way of Rochester, the Boy Scouts of America,   
Amerigroup Corporation (direct health and medical   
insurance carriers), and Monroe Community College   
Foundation.   


JoAnn Heffernan Heisen  Executive Officers   
Born 1950. Trustee Since July 1998. Principal     
Occupation(s) During the Past Five Years: Corporate  Thomas J. Higgins   
Vice President and Chief Global Diversity Officer since  Born 1957. Chief Financial Officer Since September 
2006 (retired 2008) and Member of the Executive  2008. Principal Occupation(s) During the Past Five 
Committee (retired 2008) of Johnson & Johnson  Years: Principal of The Vanguard Group, Inc.; Chief 
(pharmaceuticals/consumer products); Vice President  Financial Officer of each of the investment companies 
and Chief Information Officer of Johnson & Johnson  served by The Vanguard Group since 2008; Treasurer 
(1997–2005); Director of the University Medical Center  of each of the investment companies served by The 
at Princeton and Women’s Research and Education  Vanguard Group (1998–2008). 
Institute; Member of the Advisory Board of the Maxwell     
School of Citizenship and Public Affairs at Syracuse  Kathryn J. Hyatt   
University.  Born 1955. Treasurer Since November 2008. Principal 
  Occupation(s) During the Past Five Years: Principal of 
F. Joseph Loughrey  The Vanguard Group, Inc.; Treasurer of each of the 
Born 1949. Trustee Since October 2009. Principal  investment companies served by The Vanguard 
Occupation(s) During the Past Five Years: President and  Group since 2008; Assistant Treasurer of each of the 
Chief Operating Officer since 2005 (retired 2009) and  investment companies served by The Vanguard Group 
Vice Chairman of the Board (2008–2009) of Cummins  (1988–2008).   
Inc. (industrial machinery); Director of SKF AB (industrial     
machinery), Hillenbrand, Inc. (specialized consumer  Heidi Stam   
services), Sauer-Danfoss Inc. (machinery), the Lumina  Born 1956. Secretary Since July 2005. Principal 
Foundation for Education, and the Columbus Community  Occupation(s) During the Past Five Years: Managing 
Education Coalition; Chairman of the Advisory Council  Director of The Vanguard Group, Inc., since 2006; 
for the College of Arts and Letters at the University of  General Counsel of The Vanguard Group since 2005; 
Notre Dame.  Secretary of The Vanguard Group and of each of the 
  investment companies served by The Vanguard Group 
André F. Perold  since 2005; Director and Senior Vice President of 
Born 1952. Trustee Since December 2004. Principal  Vanguard Marketing Corporation since 2005; Principal 
Occupation(s) During the Past Five Years: George Gund  of The Vanguard Group (1997–2006). 
Professor of Finance and Banking, Harvard Business     
School; Chair of the Investment Committee of HighVista     
Strategies LLC (private investment firm).  Vanguard Senior Management Team 
 
Alfred M. Rankin, Jr.  R. Gregory Barton  Michael S. Miller 
Born 1941. Trustee Since January 1993. Principal  Mortimer J. Buckley  James M. Norris 
Occupation(s) During the Past Five Years: Chairman,  Kathleen C. Gubanich  Glenn W. Reed 
President, and Chief Executive Officer of NACCO  Paul A. Heller  George U. Sauter 
Industries, Inc. (forklift trucks/housewares/lignite);     
Director of Goodrich Corporation (industrial products/     
aircraft systems and services); Deputy Chairman of  Chairman Emeritus and Senior Advisor 
the Federal Reserve Bank of Cleveland; Trustee of     
University Hospitals of Cleveland, The Cleveland  John J. Brennan   
Museum of Art, and Case Western Reserve University.  Chairman, 1996–2009   
  Chief Executive Officer and President, 1996–2008 
Peter F. Volanakis     
Born 1955. Trustee Since July 2009. Principal     
Occupation(s) During the Past Five Years: President  Founder   
since 2007 and Chief Operating Officer since 2005     
of Corning Incorporated (communications equipment);  John C. Bogle   
President of Corning Technologies (2001–2005); Director  Chairman and Chief Executive Officer, 1974–1996 
of Corning Incorporated and Dow Corning; Trustee of     
the Corning Incorporated Foundation and the Corning     
Museum of Glass; Overseer of the Amos Tuck School     
of Business Administration at Dartmouth College.     

1 Mr. McNabb is considered an “interested person,” as defined in the Investment Company Act of 1940, because he is an officer of the
Vanguard funds.
2 December 2002 for Vanguard Equity Income Fund, Vanguard Growth Equity Fund, the Vanguard Municipal Bond Funds, and the Vanguard
State Tax-Exempt Funds.


  The funds or securities referred to herein are not 
  sponsored, endorsed, or promoted by MSCI, and MSCI 
  bears no liability with respect to any such funds or 
  securities. For any such funds or securities, the 
  prospectus or the  Statement of Additional Information 
  contains a more detailed description of the limited 
  relationship MSCI has with The Vanguard Group and 
This material may be used in conjunction  any related funds. 
with the offering of shares of any Vanguard   
fund only if preceded or accompanied by   
the fund’s current prospectus.   
 
All comparative mutual fund data are from Lipper Inc. or   
Morningstar, Inc., unless otherwise noted.   
 
You can obtain a free copy of Vanguard’s proxy voting   
guidelines by visiting our website, www.vanguard.com,   
and searching for “proxy voting guidelines,” or by calling   
Vanguard at 800-662-2739. The guidelines are also   
available from the SEC’s website, www.sec.gov. In   
addition, you may obtain a free report on how your fund   
voted the proxies for securities it owned during the 12   
months ended June 30. To get the report, visit either   
www.vanguard.com or www.sec.gov.   
 
You can review and copy information about your fund at   
the SEC’s Public Reference Room in Washington, D.C. To   
find out more about this public service, call the SEC at   
202-551-8090. Information about your fund is also   
available on the SEC’s website, and you can receive   
copies of this information, for a fee, by sending a   
request in either of two ways: via e-mail addressed to   
publicinfo@sec.gov or via regular mail addressed to the   
Public Reference Section, Securities and Exchange   
Commission, Washington, DC 20549-1520.   


© 2010 The Vanguard Group, Inc.
All rights reserved.
Vanguard Marketing Corporation, Distributor.

Q850 022010


Vanguard® U.S. Stock Index Funds
Total Stock Market Index Fund

Statement of Net Assets—Investments Summary
As of December 31, 2009

This Statement should be read in conjunction with the Statement of Operations, Statement of Changes in Net Assets, Financial Highlights, Notes to Financial Statements, and Report of Independent Registered Public Accounting Firm, all of which appear in the accompanying report.

This Statement summarizes the fund’s holdings by asset type (common stocks, bonds, etc.) and by industry sector. Details are reported for each of the fund’s 50 largest individual holdings and for investments that, in total for any issuer, represent more than 1% of the fund’s net assets. The total value of smaller holdings is reported as a single amount within each category.

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 complete listing of the fund’s holdings is available electronically on Vanguard.com and on the Securities and Exchange Commisssion’s website (www.sec.gov), or you can have it mailed to you without charge by calling 800-662-7447. For the first and third fiscal quarters, the fund files the lists with the SEC 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  Percentage 
    Value•  of Net 
  Shares  ($000)  Assets 
Common Stocks       
Consumer Discretionary       
McDonald's Corp.  10,688,113  667,366  0.5% 
Walt Disney Co.  17,515,931  564,889  0.5% 
Home Depot Inc.  16,682,264  482,618  0.4% 
* Amazon.com Inc.  3,383,170  455,104  0.4% 
Comcast Corp. Class A  24,205,542  408,105  0.3% 
Consumer Discretionary—Other †    9,688,752  8.1% 
    12,266,834  10.2% 
Consumer Staples       
Procter & Gamble Co.  28,587,234  1,733,244  1.4% 
Wal-Mart Stores Inc.  22,896,854  1,223,837  1.0% 
Coca-Cola Co.  20,426,251  1,164,296  1.0% 
PepsiCo Inc.  15,258,225  927,700  0.8% 
Philip Morris International Inc.  18,945,106  912,965  0.8% 
CVS Caremark Corp.  14,134,327  455,267  0.4% 
Colgate-Palmolive Co.  4,881,426  401,009  0.3% 
Altria Group Inc.  20,285,927  398,213  0.3% 
Kraft Foods Inc.  14,445,019  392,616  0.3% 
Consumer Staples—Other †    4,183,802  3.5% 
    11,792,949  9.8% 
Energy       
Exxon Mobil Corp.  47,065,421  3,209,391  2.7% 
Chevron Corp.  19,640,954  1,512,157  1.3% 
Schlumberger Ltd.  11,730,954  763,568  0.6% 
ConocoPhillips  13,796,735  704,599  0.6% 
Occidental Petroleum Corp.  7,940,419  645,953  0.5% 
Energy—Other †    6,331,325  5.3% 
    13,166,993  11.0% 

1


    Market  Percentage 
    Value•  of Net 
  Shares  ($000)  Assets 
Financials       
JPMorgan Chase & Co.  38,513,625  1,604,863  1.3% 
Wells Fargo & Co.  47,568,767  1,283,881  1.1% 
Bank of America Corp.  84,729,207  1,276,022  1.1% 
Goldman Sachs Group Inc.  4,756,446  803,078  0.7% 
Citigroup Inc.  207,601,896  687,162  0.6% 
American Express Co.  10,481,840  424,724  0.4% 
US Bancorp  18,724,920  421,498  0.3% 
Financials—Other †    11,784,884  9.8% 
    18,286,112  15.3% 
Health Care       
Johnson & Johnson  26,989,002  1,738,362  1.4% 
Pfizer Inc.  78,976,267  1,436,578  1.2% 
Merck & Co. Inc.  29,914,021  1,093,058  0.9% 
Abbott Laboratories  15,139,903  817,403  0.7% 
* Amgen Inc.  9,945,120  562,595  0.5% 
Medtronic Inc.  10,868,701  478,005  0.4% 
Bristol-Myers Squibb Co.  16,768,944  423,416  0.4% 
Health Care—Other †    8,559,565  7.1% 
    15,108,982  12.6% 
Industrials       
General Electric Co.  104,073,701  1,574,635  1.3% 
United Technologies Corp.  8,757,475  607,856  0.5% 
3M Co.  6,496,617  537,075  0.5% 
United Parcel Service Inc. Class B  6,877,930  394,587  0.3% 
Industrials—Other †    10,003,088  8.3% 
    13,117,241  10.9% 
Information Technology       
Microsoft Corp.  78,539,889  2,394,681  2.0% 
* Apple Inc.  8,773,159  1,849,908  1.6% 
International Business Machines Corp.  12,838,138  1,680,512  1.4% 
* Google Inc. Class A  2,369,751  1,469,198  1.2% 
* Cisco Systems Inc.  56,487,594  1,352,313  1.1% 
Hewlett-Packard Co.  23,369,819  1,203,779  1.0% 
Intel Corp.  54,823,865  1,118,407  0.9% 
Oracle Corp.  39,292,271  964,232  0.8% 
QUALCOMM Inc.  16,279,815  753,104  0.6% 
Visa Inc. Class A  4,506,253  394,117  0.3% 
Information Technology—Other †    10,132,112  8.5% 
    23,312,363  19.4% 
Materials       
Monsanto Co.  5,346,489  437,075  0.3% 
Materials—Other †    4,282,596  3.6% 
    4,719,671  3.9% 
Telecommunication Services       
AT&T Inc.  57,781,566  1,619,617  1.3% 
Verizon Communications Inc.  27,819,530  921,661  0.8% 
Telecommunication Services—Other †    925,144  0.8% 
    3,466,422  2.9% 
 
Utilities †    4,573,987  3.8% 
Total Common Stocks (Cost $121,178,425)    119,811,554  99.8%1 

2


      Market  Percentage 
      Value•  of Net 
      ($000)  Assets 
Convertible Preferred Stocks         
Consumer Discretionary †      617  0.0% 
Total Convertible Preferred Stocks (Cost $789)      617  0.0% 
 
  Coupon  Shares     
Temporary Cash Investments         
Money Market Fund         
2,3 Vanguard Market Liquidity Fund  0.187%  666,333,103  666,333  0.6% 
 
4U.S. Government and Agency Obligations †      20,989  0.0% 
Total Temporary Cash Investments (Cost $687,318)      687,322  0.6%1 
5Total Investments (Cost $121,866,532)      120,499,493  100.4% 
Other Assets and Liabilities         
Other Assets      308,241  0.3% 
Liabilities3      (794,385)  (0.7%) 
      (486,144)  (0.4%) 
Net Assets      120,013,349  100.0% 
 
 
At December 31, 2009, net assets consisted of:         
        Amount 
        ($000) 
Paid-in Capital        124,147,458 
Overdistributed Net Investment Income        (79,430) 
Accumulated Net Realized Losses        (2,689,626) 
Unrealized Appreciation (Depreciation)         
Investment Securities        (1,367,039) 
Futures Contracts        1,986 
Net Assets        120,013,349 

3


  Amount 
  ($000) 
Investor Shares—Net Assets   
Applicable to 2,113,205,103 outstanding $.001 par value shares of   
beneficial interest (unlimited authorization)  58,004,042 
Net Asset Value Per Share—Investor Shares  $27.45 
 
Admiral Shares—Net Assets   
Applicable to 1,011,255,022 outstanding $.001 par value shares of   
beneficial interest (unlimited authorization)  27,762,276 
Net Asset Value Per Share—Admiral Shares  $27.45 
 
Signal Shares—Net Assets   
Applicable to 179,543,029 outstanding $.001 par value shares of   
beneficial interest (unlimited authorization)  4,757,409 
Net Asset Value Per Share—Signal Shares  $26.50 
 
Institutional Shares—Net Assets   
Applicable to 584,428,905 outstanding $.001 par value shares of   
beneficial interest (unlimited authorization)  16,047,027 
Net Asset Value Per Share—Institutional Shares  $27.46 
 
ETF Shares—Net Assets   
Applicable to 238,374,239 outstanding $.001 par value shares of   
beneficial interest (unlimited authorization)  13,442,595 
Net Asset Value Per Share—ETF Shares  $56.39 

• See Note A in Notes to Financial Statements.
* Non-income-producing security.
† Represents the aggregate value, by category, of securities that are not among the 50 largest holdings and, in total for any issuer, represent
1% or less of net assets.
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 0.4%, 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 $484,894,000 of collateral received for securities on loan.
4 Securities with a value of $20,989,000 have been segregated as initial margin for open futures contracts.
5 The total value of securities on loan is $435,174,000.

© 2010 The Vanguard Group, Inc.
All rights reserved.
Vanguard Marketing Corporation, Distributor.

F850 022010


Vanguard® U.S. Stock Index Funds
Large-Cap Index Fund

Statement of Net Assets
As of December 31, 2009

The Statement of Net Assets should be read in conjunction with the Statement of Operations, Statement of Changes in Net Assets, Financial Highlights, Notes to Financial Statements, and Report of Independent Registered Public Accounting Firm, all of which appear in the accompanying report.

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 (99.8%)1     
Consumer Discretionary (9.7%)     
  McDonald's Corp.  382,205  23,865 
  Walt Disney Co.  626,367  20,200 
  Home Depot Inc.  596,238  17,249 
*  Amazon.com Inc.  120,999  16,277 
  Target Corp.  250,206  12,102 
  Time Warner Inc.  415,236  12,100 
  Lowe's Cos. Inc.  517,154  12,096 
  Comcast Corp. Class A  648,354  10,931 
*  DIRECTV Class A  318,199  10,612 
  News Corp. Class A  755,202  10,339 
*  Ford Motor Co.  992,846  9,928 
  NIKE Inc. Class B  129,982  8,588 
  Johnson Controls Inc.  235,205  6,407 
  Staples Inc.  252,968  6,221 
*  Starbucks Corp.  258,089  5,952 
*  Viacom Inc. Class B  192,465  5,722 
  Yum! Brands Inc.  163,382  5,713 
*  Kohl's Corp.  101,489  5,473 
  TJX Cos. Inc.  148,249  5,419 
  Time Warner Cable Inc.  123,296  5,103 
  Comcast Corp.  316,802  5,072 
  Best Buy Co. Inc.  123,846  4,887 
*  Carnival Corp.  153,575  4,867 
  Omnicom Group Inc.  108,794  4,259 
  Coach Inc.  111,457  4,072 
  McGraw-Hill Cos. Inc.  110,164  3,692 
  Gap Inc.  170,681  3,576 
*  Bed Bath & Beyond Inc.  91,618  3,539 
*  priceline.com Inc.  14,051  3,070 
  CBS Corp. Class B  206,210  2,897 
  Marriott International Inc.     
  Class A  105,806  2,883 
*  Apollo Group Inc. Class A  45,606  2,763 
  H&R Block Inc.  117,414  2,656 
  Mattel Inc.  126,083  2,519 
  Macy's Inc.  147,187  2,467 
  Starwood Hotels & Resorts     
  Worldwide Inc.  65,461  2,394 
  VF Corp.  31,138  2,281 
  Fortune Brands Inc.  52,652  2,275 
  Cablevision Systems Corp.     
  Class A  86,379  2,230 
*  Liberty Media Corp.–     
  Interactive  198,659  2,153 
  Nordstrom Inc.  56,872  2,137 
  Sherwin-Williams Co.  34,621  2,134 
  Genuine Parts Co.  55,928  2,123 
  Whirlpool Corp.  25,980  2,096 
  Harley-Davidson Inc.  82,192  2,071 
  JC Penney Co. Inc.  74,130  1,973 
  International Game     
  Technology  103,939  1,951 
  Ross Stores Inc.  44,380  1,895 
*  CarMax Inc.  77,322  1,875 
  Tiffany & Co.  43,495  1,870 
  Ltd Brands Inc.  95,842  1,844 
*  O'Reilly Automotive Inc.  47,906  1,826 
*  AutoZone Inc.  11,261  1,780 
*  Expedia Inc.  69,159  1,778 
*  Las Vegas Sands Corp.  115,770  1,730 
  Virgin Media Inc.  97,513  1,641 
*,^  Sears Holdings Corp.  19,549  1,631 
  Darden Restaurants Inc.  46,224  1,621 
  Polo Ralph Lauren Corp.     
  Class A  20,008  1,620 
*  Urban Outfitters Inc.  44,197  1,546 
  DISH Network Corp. Class A  73,083  1,518 
*  Dollar Tree Inc.  31,319  1,513 

1


      Market 
      Value• 
    Shares  ($000) 
  Wynn Resorts Ltd.  25,879  1,507 
  Newell Rubbermaid Inc.  96,788  1,453 
*  Discovery Communications Inc.     
  Class A  47,226  1,448 
  Hasbro Inc.  44,006  1,411 
  Black & Decker Corp.  21,049  1,365 
  BorgWarner Inc.  40,878  1,358 
  Advance Auto Parts Inc.  33,506  1,356 
  Scripps Networks     
  Interactive Inc. Class A  31,619  1,312 
*  Discovery     
  Communications Inc.  49,402  1,310 
  Autoliv Inc.  29,901  1,297 
^  Garmin Ltd.  42,192  1,295 
  Family Dollar Stores Inc.  46,507  1,294 
*  ITT Educational Services Inc.  13,323  1,278 
  DeVry Inc.  22,427  1,272 
  Wyndham Worldwide Corp.  62,658  1,264 
*  Interpublic Group of Cos. Inc.  169,436  1,250 
*  Royal Caribbean Cruises Ltd.  48,811  1,234 
  Gannett Co. Inc.  82,003  1,218 
*  GameStop Corp. Class A  54,957  1,206 
  Pulte Homes Inc.  120,006  1,200 
  PetSmart Inc.  43,748  1,168 
*  NVR Inc.  1,628  1,157 
*  Goodyear Tire & Rubber Co.  80,375  1,133 
  American Eagle Outfitters Inc.  64,828 1,101 
  DR Horton Inc.  99,488  1,081 
  Abercrombie & Fitch Co.  30,644  1,068 
  Leggett & Platt Inc.  51,966  1,060 
  Strayer Education Inc.  4,876  1,036 
*  Liberty Global Inc. Class A  45,994  1,008 
  Mohawk Industries Inc.  20,415  972 
*  Chipotle Mexican Grill Inc.     
  Class A  11,013  971 
*  Marvel Entertainment Inc.  17,942  970 
*  NetFlix Inc.  17,013  938 
  Washington Post Co. Class B  2,123  933 
*  Liberty Global Inc.  41,733  912 
*  Toll Brothers Inc.  47,762  898 
*  LKQ Corp.  44,492  872 
*  MGM Mirage  92,608  845 
  Harman International     
  Industries Inc.  23,046  813 
  Guess? Inc.  19,190  812 
*  Liberty Media Corp. - Starz  17,389  803 
*  Lamar Advertising Co.     
  Class A  25,390  789 
*  AutoNation Inc.  40,662  779 
  Wendy's/Arby's Group Inc.     
  Class A  139,407  654 
  Lennar Corp. Class A  50,475  645 
*  Penn National Gaming Inc.  23,284  633 
  WABCO Holdings Inc.    22,332  576 
  News Corp. Class B    35,845  571 
  Brinker International Inc.  36,203  540 
*  Hyatt Hotels Corp. Class A  13,342  398 
  Weight Watchers       
  International Inc.    12,145  354 
*  Clear Channel Outdoor     
  Holdings Inc. Class A  14,583  152 
*  Krispy Kreme Doughnuts Inc.     
  Warrants Exp. 3/2/12    20  — 
        369,233 
Consumer Staples (10.6%)     
  Procter & Gamble Co.  1,022,167  61,974 
  Wal-Mart Stores Inc.    818,668  43,758 
  Coca-Cola Co.    730,337  41,629 
  PepsiCo Inc.    545,542  33,169 
  Philip Morris       
  International Inc.    677,400  32,644 
  CVS Caremark Corp.    505,248  16,274 
  Colgate-Palmolive Co.    174,593  14,343 
  Altria Group Inc.    725,075  14,233 
  Kraft Foods Inc.    516,366  14,035 
  Walgreen Co.    347,575  12,763 
  Kimberly-Clark Corp.    145,200  9,251 
  Costco Wholesale Corp.  152,269  9,010 
  General Mills Inc.    113,953  8,069 
  Archer-Daniels-Midland Co.  202,295  6,334 
  Sysco Corp.    206,939  5,782 
  Kellogg Co.    93,901  4,996 
  HJ Heinz Co.    110,322  4,717 
  Avon Products Inc.    149,398  4,706 
  Lorillard Inc.    57,774  4,635 
  Kroger Co.    216,541  4,446 
  ConAgra Foods Inc.    155,037  3,574 
  Reynolds American Inc.  61,222  3,243 
  Mead Johnson Nutrition Co.     
  Class A    71,504  3,125 
  Safeway Inc.    145,724  3,102 
  Clorox Co.    48,745  2,973 
  Bunge Ltd.    46,391  2,961 
  Sara Lee Corp.    231,403  2,819 
  JM Smucker Co.    41,597  2,569 
  Dr Pepper Snapple Group Inc.  88,906  2,516 
  Campbell Soup Co.    73,576  2,487 
  Molson Coors Brewing Co.     
  Class B    53,254  2,405 
  Coca-Cola Enterprises Inc.  102,551  2,174 
  Pepsi Bottling Group Inc.  52,915  1,984 
  Hershey Co.    55,395  1,983 
  Estee Lauder Cos. Inc.     
  Class A    39,368  1,904 
  McCormick & Co. Inc.    41,400  1,496 
  Brown-Forman Corp. Class B  27,908  1,495 
  Church & Dwight Co. Inc.  24,655  1,490 
*  Energizer Holdings Inc.  23,130  1,417 

2


      Market 
      Value• 
    Shares  ($000) 
*  Whole Foods Market Inc.  49,297  1,353 
  Tyson Foods Inc. Class A  101,663  1,247 
*  Ralcorp Holdings Inc.  19,849  1,185 
*  Dean Foods Co.  62,804  1,133 
*  Constellation Brands Inc.     
  Class A  69,042  1,100 
*  Hansen Natural Corp.  26,855  1,031 
  Hormel Foods Corp.  25,786  991 
  SUPERVALU Inc.  74,429  946 
  Alberto-Culver Co. Class B  30,801  902 
*  Smithfield Foods Inc.  51,938  789 
  Flowers Foods Inc.  29,126  692 
  PepsiAmericas Inc.  21,677  634 
      404,488 
Energy (11.6%)     
  Exxon Mobil Corp.  1,682,764  114,748 
  Chevron Corp.  702,233  54,065 
  Schlumberger Ltd.  419,328  27,294 
  ConocoPhillips  493,322  25,194 
  Occidental Petroleum Corp.  283,869  23,093 
  Apache Corp.  117,541  12,127 
  Devon Energy Corp.  147,664  10,853 
  Anadarko Petroleum Corp.  171,661  10,715 
  Halliburton Co.  315,858  9,504 
*  Transocean Ltd.  112,348  9,302 
  XTO Energy Inc.  192,855  8,973 
  EOG Resources Inc.  88,198  8,582 
  Marathon Oil Corp.  247,780  7,736 
  National Oilwell Varco Inc.  146,391  6,454 
  Hess Corp.  103,035  6,234 
*  Southwestern Energy Co.  120,674  5,816 
  Chesapeake Energy Corp.  213,396  5,523 
  Spectra Energy Corp.  225,922  4,634 
*  Weatherford     
  International Ltd.  254,389  4,556 
  Baker Hughes Inc.  108,480  4,391 
  Noble Energy Inc.  60,682  4,322 
  Williams Cos. Inc.  203,972  4,300 
  Peabody Energy Corp.  93,638  4,233 
  Noble Corp.  91,521  3,725 
*  Cameron International Corp.  85,468 3,573 
  Murphy Oil Corp.  63,533  3,443 
  Valero Energy Corp.  196,843  3,297 
  Consol Energy Inc.  63,218  3,148 
  Range Resources Corp.  54,997  2,742 
*  Ultra Petroleum Corp.  52,930  2,639 
*  Petrohawk Energy Corp.  105,355  2,527 
*  FMC Technologies Inc.  42,835  2,478 
  El Paso Corp.  245,507  2,413 
  Diamond Offshore     
  Drilling Inc.  24,281  2,390 
  Smith International Inc.  86,671  2,355 
*  Newfield Exploration Co.  46,444  2,240 
*  Nabors Industries Ltd.  99,266  2,173 
  Pioneer Natural       
  Resources Co.    40,401  1,946 
*  Pride International Inc.    60,909  1,944 
  BJ Services Co.    102,428  1,905 
*  Alpha Natural Resources Inc.  42,023  1,823 
  Cabot Oil & Gas Corp.    36,304  1,582 
  Cimarex Energy Co.    29,271  1,550 
  Helmerich & Payne Inc.    37,037  1,477 
*  Kinder Morgan       
  Management LLC    26,415  1,443 
  EXCO Resources Inc.    62,571  1,328 
*  Plains Exploration &       
  Production Co.    47,933  1,326 
*  Denbury Resources Inc.    87,413  1,294 
  Arch Coal Inc.    56,928  1,267 
  Massey Energy Co.    30,050  1,262 
*  Oceaneering International Inc.  19,244  1,126 
  Sunoco Inc.    41,027  1,071 
*  Concho Resources Inc.    22,406  1,006 
*  Dresser-Rand Group Inc.    28,970  916 
*  Rowan Cos. Inc.    39,742  900 
  Tidewater Inc.    18,220  874 
*  Forest Oil Corp.    37,340  831 
  Patterson-UTI Energy Inc.    53,850  827 
  Tesoro Corp.    48,878  662 
*  Quicksilver Resources Inc.    41,707  626 
*  Continental Resources Inc.    12,022  516 
*  SandRidge Energy Inc.    54,077  510 
*  CNX Gas Corp.    10,689  315 
*  Cobalt International       
  Energy Inc.    19,043  264 
        442,383 
Financials (14.6%)       
  JPMorgan Chase & Co.  1,377,021  57,380 
  Wells Fargo & Co.  1,700,744  45,903 
  Bank of America Corp.  3,029,350  45,622 
  Goldman Sachs Group Inc.    170,047  28,711 
  Citigroup Inc.  7,422,672  24,569 
  American Express Co.    374,724  15,184 
  US Bancorp    669,294  15,066 
*  Berkshire Hathaway Inc.       
  Class B    3,899  12,812 
  Morgan Stanley    428,411  12,681 
  Bank of New York       
  Mellon Corp.    421,183  11,780 
  MetLife Inc.    286,735  10,136 
  Travelers Cos. Inc.    198,868  9,916 
  PNC Financial Services       
  Group Inc.    161,554  8,528 
  Prudential Financial Inc.    161,404  8,031 
  Simon Property Group Inc.    99,833  7,967 
  Aflac Inc.    163,626  7,568 
  State Street Corp.    173,184  7,540 
  CME Group Inc.    20,930  7,031 
  Charles Schwab Corp.    345,406  6,501 

3


      Market 
      Value• 
    Shares  ($000) 
  Capital One Financial Corp.  159,344  6,109 
  BB&T Corp.  238,637  6,054 
  Chubb Corp.  122,647  6,032 
  Franklin Resources Inc.  56,441  5,946 
  ACE Ltd.  117,673  5,931 
  Allstate Corp.  178,314  5,357 
  T Rowe Price Group Inc.  89,668  4,775 
  Loews Corp.  121,356  4,411 
*  Progressive Corp.  225,526  4,057 
  Marsh & McLennan Cos. Inc.  183,309  4,047 
  Northern Trust Corp.  76,062  3,986 
  Vornado Realty Trust  56,718  3,967 
  Public Storage  44,453  3,621 
  SunTrust Banks Inc.  174,498  3,541 
  Ameriprise Financial Inc.  89,171  3,462 
  Invesco Ltd.  145,587  3,420 
  AON Corp.  86,438  3,314 
  Annaly Capital     
  Management Inc.  190,470  3,305 
  Boston Properties Inc.  48,512  3,254 
  Equity Residential  95,847  3,238 
  Hartford Financial Services     
  Group Inc.  134,525  3,129 
  HCP Inc.  101,796  3,109 
  Discover Financial Services  187,958  2,765 
  Principal Financial Group Inc.  111,568 2,682 
  Lincoln National Corp.  105,821  2,633 
  Fifth Third Bancorp  264,581  2,580 
  Host Hotels & Resorts Inc.  217,597  2,539 
*  IntercontinentalExchange Inc.  21,813  2,450 
  Ventas Inc.  54,813  2,397 
  NYSE Euronext  91,000  2,302 
  AvalonBay Communities Inc.  27,985  2,298 
  Hudson City Bancorp Inc.  165,231  2,269 
  Unum Group  116,093  2,266 
  Regions Financial Corp.  416,170  2,202 
  XL Capital Ltd. Class A  119,787  2,196 
  Plum Creek Timber Co. Inc.  57,006  2,153 
  ProLogis  155,079  2,123 
  New York Community     
  Bancorp Inc.  140,906  2,045 
  People's United Financial Inc.  122,072  2,039 
*  Genworth Financial Inc.     
  Class A  168,137  1,908 
  Kimco Realty Corp.  140,904  1,906 
  Moody's Corp.  70,247  1,883 
  BlackRock Inc.  8,031  1,865 
  Health Care REIT Inc.  42,060  1,864 
*  SLM Corp.  163,891  1,847 
  Everest Re Group Ltd.  21,240  1,820 
  M&T Bank Corp.  26,870  1,797 
*  TD Ameritrade Holding Corp.  92,563  1,794 
  PartnerRe Ltd.  23,442  1,750 
  KeyCorp  307,977  1,709 
*  Leucadia National Corp.  68,449  1,628 
  Comerica Inc.  52,991  1,567 
  Willis Group Holdings Ltd.  58,615  1,546 
  Legg Mason Inc.  50,095  1,511 
  Federal Realty     
  Investment Trust  21,423  1,451 
  Cincinnati Financial Corp.  54,203  1,422 
  SL Green Realty Corp.  26,840  1,348 
  Axis Capital Holdings Ltd.  47,125  1,339 
  Nationwide Health     
  Properties Inc.  37,634  1,324 
  AMB Property Corp.  51,176  1,308 
  Digital Realty Trust Inc.  25,417  1,278 
  Torchmark Corp.  29,065  1,277 
*,^  American International     
  Group Inc.  42,308  1,268 
  Liberty Property Trust  39,284  1,257 
  WR Berkley Corp.  50,186  1,237 
  Assurant Inc.  41,373  1,220 
  Reinsurance Group of     
  America Inc. Class A  25,535  1,217 
  Macerich Co.  33,106  1,190 
  Eaton Vance Corp.  38,778  1,179 
  Rayonier Inc.  27,665  1,166 
  RenaissanceRe Holdings Ltd.  21,848  1,161 
*  CB Richard Ellis Group Inc.     
  Class A  85,198  1,156 
*  Markel Corp.  3,267  1,111 
  HCC Insurance Holdings Inc.  39,126  1,094 
  Regency Centers Corp.  30,983  1,086 
*  Arch Capital Group Ltd.  14,934  1,069 
  First American Corp.  31,569  1,045 
*  First Horizon National Corp.  77,621  1,040 
  Fidelity National Financial Inc.     
  Class A  76,810  1,034 
  Transatlantic Holdings Inc.  19,776  1,030 
  Hospitality Properties Trust  42,682  1,012 
*  NASDAQ OMX Group Inc.  49,705  985 
*  Affiliated Managers Group Inc.  14,497  976 
  Duke Realty Corp.  78,354  954 
  Commerce Bancshares Inc.  24,547  950 
  Realty Income Corp.  36,491  945 
  Cullen/Frost Bankers Inc.  18,752  938 
*  St Joe Co.  32,215  931 
  White Mountains     
  Insurance Group Ltd.  2,787  927 
  Marshall & Ilsley Corp.  167,894  915 
  Federated Investors Inc.     
  Class B  32,578  896 
  Validus Holdings Ltd.  32,796  883 
  UDR Inc.  52,791  868 
  Huntington Bancshares Inc.  236,765  864 
  Janus Capital Group Inc.  63,704  857 
*  Jefferies Group Inc.  36,018  855 
  Old Republic     
  International Corp.  84,260  846 

4


        Market 
        Value• 
      Shares  ($000) 
  Raymond James Financial Inc.  34,536  821 
  SEI Investments Co.    46,759  819 
  Weingarten Realty Investors  39,821  788 
  Brown & Brown Inc.    42,143  757 
  City National Corp.    15,235  695 
  American Financial Group Inc.  26,421 659 
  Greenhill & Co. Inc.    7,975  640 
  TCF Financial Corp.    40,870  557 
  Zions Bancorporation    42,100  540 
  Associated Banc-Corp    42,654  470 
  BOK Financial Corp.    9,624  457 
  TFS Financial Corp.    32,629  396 
  Mercury General Corp.    9,524  374 
  Capitol Federal Financial    7,660  241 
        558,448 
Health Care (12.6%)       
  Johnson & Johnson    964,973  62,154 
  Pfizer Inc.  2,823,655  51,362 
  Merck & Co. Inc.  1,069,550  39,081 
  Abbott Laboratories    541,357  29,228 
*  Amgen Inc.    355,492  20,110 
  Medtronic Inc.    388,493  17,086 
  Bristol-Myers Squibb Co.    599,392  15,135 
*  Gilead Sciences Inc.    316,618  13,703 
  Eli Lilly & Co.    361,985  12,926 
  UnitedHealth Group Inc.    407,001  12,405 
  Baxter International Inc.    211,142  12,390 
*  Medco Health Solutions Inc.  165,952 10,606 
*  WellPoint Inc.    166,316  9,695 
*  Celgene Corp.    160,605  8,943 
  Covidien PLC    175,804  8,419 
*  Express Scripts Inc.    91,303  7,893 
*  Thermo Fisher Scientific Inc.  142,940 6,817 
  Allergan Inc.    106,463  6,708 
  Becton Dickinson and Co.    83,868  6,614 
  McKesson Corp.    93,258  5,829 
*  Biogen Idec Inc.    101,131  5,411 
  Stryker Corp.    104,293  5,253 
  Aetna Inc.    152,815  4,844 
*  Boston Scientific Corp.    527,325  4,746 
*  Genzyme Corp.    94,566  4,635 
*  St. Jude Medical Inc.    121,901  4,484 
*  Zimmer Holdings Inc.    75,108  4,440 
  Cardinal Health Inc.    125,987  4,062 
*  Intuitive Surgical Inc.    13,271  4,025 
*  Forest Laboratories Inc.    105,618  3,391 
  CIGNA Corp.    95,452  3,367 
  Quest Diagnostics Inc.    55,254  3,336 
*  Life Technologies Corp.    61,773  3,226 
*  Vertex Pharmaceuticals Inc.    67,315  2,884 
*  Hospira Inc.    56,389  2,876 
*  Laboratory Corp. of       
  America Holdings    37,896  2,836 
  AmerisourceBergen Corp.     
  Class A  104,056  2,713 
  CR Bard Inc.  34,133  2,659 
*  Humana Inc.  59,383  2,606 
*  DaVita Inc.  36,428  2,140 
*  Waters Corp.  33,398  2,069 
*  Varian Medical Systems Inc.  43,883  2,056 
*  Cerner Corp.  24,102  1,987 
*  Mylan Inc.  107,057  1,973 
  DENTSPLY International Inc.  49,507  1,741 
*  Edwards Lifesciences Corp.  19,848  1,724 
*  Henry Schein Inc.  31,576  1,661 
*  Cephalon Inc.  26,127  1,631 
*  CareFusion Corp.  63,012  1,576 
  Beckman Coulter Inc.  23,941  1,567 
*  Alexion Pharmaceuticals Inc.  30,885  1,508 
*  Millipore Corp.  19,430  1,406 
*  Watson Pharmaceuticals Inc.  35,085  1,390 
*  ResMed Inc.  26,502  1,385 
  IMS Health Inc.  63,835  1,344 
*  Illumina Inc.  43,510  1,334 
*  Hologic Inc.  89,950  1,304 
*  Coventry Health Care Inc.  52,240  1,269 
*  Mettler-Toledo     
  International Inc.  11,746  1,233 
*  Covance Inc.  22,462  1,226 
*  Dendreon Corp.  45,640  1,199 
*  Community Health     
  Systems Inc.  32,503  1,157 
*  Warner Chilcott PLC Class A  39,404  1,122 
*  Inverness Medical     
  Innovations Inc.  26,885  1,116 
  Perrigo Co.  27,560  1,098 
*  IDEXX Laboratories Inc.  20,518  1,096 
*  King Pharmaceuticals Inc.  87,033  1,068 
  Omnicare Inc.  42,008  1,016 
  Universal Health Services Inc.     
  Class B  31,726  968 
*  Patterson Cos. Inc.  32,124  899 
*  Lincare Holdings Inc.  23,687  879 
  Pharmaceutical Product     
  Development Inc.  37,412  877 
*  Myriad Genetics Inc.  33,581  876 
  Techne Corp.  12,363  848 
*  Endo Pharmaceuticals     
  Holdings Inc.  41,206  845 
*  Health Net Inc.  36,170  842 
*  Charles River Laboratories     
  International Inc.  23,249  783 
*  Gen-Probe Inc.  17,575  754 
*  Amylin Pharmaceuticals Inc.  49,350  700 
*  Kinetic Concepts Inc.  18,544  698 
*  Abraxis Bioscience Inc.  2,719  110 
      481,373 

5


        Market 
        Value• 
      Shares  ($000) 
Industrials (10.3%)       
  General Electric Co.  3,721,052  56,300 
  United Technologies Corp.  313,013  21,726 
  3M Co.    232,257  19,201 
  United Parcel Service Inc.     
  Class B    246,003  14,113 
  Boeing Co.    241,595  13,078 
  Caterpillar Inc.    217,638  12,403 
  Burlington Northern       
  Santa Fe Corp.    119,180  11,754 
  Union Pacific Corp.    176,668  11,289 
  Emerson Electric Co.    263,237  11,214 
  Honeywell International Inc.  250,263  9,810 
  FedEx Corp.    103,920  8,672 
  Lockheed Martin Corp.  114,399  8,620 
  Deere & Co.    148,120  8,012 
  General Dynamics Corp.  114,555  7,809 
  Danaher Corp.    95,160  7,156 
  Illinois Tool Works Inc.    148,894  7,145 
  Raytheon Co.    136,333  7,024 
  Norfolk Southern Corp.  128,614  6,742 
  CSX Corp.    137,299  6,658 
  Tyco International Ltd.    165,954  5,921 
  Northrop Grumman Corp.  105,802  5,909 
  Waste Management Inc.  163,753  5,537 
  Precision Castparts Corp.  49,101  5,418 
  PACCAR Inc.    120,759  4,380 
  Ingersoll-Rand PLC    111,691  3,992 
  Republic Services Inc.       
  Class A    132,657  3,756 
  L-3 Communications       
  Holdings Inc.    40,854  3,552 
  Eaton Corp.    55,064  3,503 
  CH Robinson Worldwide Inc.  58,828  3,455 
*  Delta Air Lines Inc.    272,076  3,096 
  Cummins Inc.    67,120  3,078 
  Rockwell Collins Inc.    55,149  3,053 
  Parker Hannifin Corp.    56,186  3,027 
  ITT Corp.    60,635  3,016 
  Southwest Airlines Co.  259,442  2,965 
  Fluor Corp.    62,954  2,835 
  Goodrich Corp.    43,367  2,786 
  Dover Corp.    65,218  2,714 
  Expeditors International of     
  Washington Inc.    74,220  2,578 
  Cooper Industries PLC  58,367  2,489 
  Rockwell Automation Inc.  49,728  2,336 
*,^  First Solar Inc.    16,354  2,214 
  WW Grainger Inc.    21,914  2,122 
  Fastenal Co.    46,882  1,952 
*  McDermott International Inc.  80,392  1,930 
  Flowserve Corp.    19,681  1,860 
  Joy Global Inc.    35,835  1,849 
  Textron Inc.    94,765  1,783 
  Masco Corp.    126,140  1,742 
  Roper Industries Inc.    31,797  1,665 
  Pitney Bowes Inc.    72,377  1,647 
*  Jacobs Engineering       
  Group Inc.    43,306  1,629 
  RR Donnelley & Sons Co.  72,032  1,604 
*  Stericycle Inc.    28,248  1,558 
  Dun & Bradstreet Corp.  18,448  1,557 
  Manpower Inc.    27,500  1,501 
  Pall Corp.    41,310  1,495 
  Bucyrus International Inc.     
  Class A    26,390  1,488 
*  Iron Mountain Inc.    63,791  1,452 
*  Quanta Services Inc.    69,384  1,446 
  AMETEK Inc.    37,709  1,442 
  Equifax Inc.    44,408  1,372 
  Robert Half International Inc.  50,464  1,349 
*  URS Corp.    29,597  1,318 
*  Foster Wheeler AG    44,344  1,306 
  Avery Dennison Corp.    35,573  1,298 
  Stanley Works    25,027  1,289 
  Cintas Corp.    47,931  1,249 
*  Kansas City Southern    33,748  1,124 
  Donaldson Co. Inc.    25,586  1,088 
  KBR Inc.    56,321  1,070 
  Pentair Inc.    32,810  1,060 
*  AGCO Corp.    32,443  1,049 
*  Alliant Techsystems Inc.  11,578  1,022 
  JB Hunt Transport       
  Services Inc.    30,956  999 
*  IHS Inc. Class A    17,736  972 
*  Verisk Analytics Inc. Class A  31,732  961 
  SPX Corp.    17,130  937 
*  Copart Inc.    25,181  922 
  Harsco Corp.    28,223  910 
*  AMR Corp.    115,277  891 
*  Aecom Technology Corp.  30,968  852 
*  Navistar International Corp.  22,021  851 
*  FTI Consulting Inc.    17,991  848 
*  Shaw Group Inc.    29,093  836 
  Ryder System Inc.    19,520  804 
*  Covanta Holding Corp.    43,494  787 
*  Hertz Global Holdings Inc.  64,502  769 
*  Terex Corp.    37,967  752 
  MSC Industrial Direct Co.     
  Class A    15,487  728 
*  Spirit Aerosystems       
  Holdings Inc. Class A  36,619  727 
*  Owens Corning    26,928  690 
*  SunPower Corp. Class A  19,214  455 
*  SunPower Corp. Class B  14,668  307 
        393,650 
Information Technology (19.7%)   
  Microsoft Corp.    2,808,092  85,619 
*  Apple Inc.    313,676  66,142 

6


      Market 
      Value• 
    Shares  ($000) 
  International Business     
  Machines Corp.  459,068  60,092 
*  Google Inc. Class A  84,729  52,530 
*  Cisco Systems Inc.  2,019,621  48,350 
  Hewlett-Packard Co.  835,550  43,039 
  Intel Corp.  1,960,154  39,987 
  Oracle Corp.  1,404,915  34,477 
  QUALCOMM Inc.  582,170  26,931 
  Visa Inc. Class A  161,167  14,096 
*  EMC Corp.  707,872  12,366 
  Texas Instruments Inc.  441,589  11,508 
  Corning Inc.  544,371  10,512 
*  eBay Inc.  384,167  9,043 
  Accenture PLC Class A  215,039  8,924 
  Mastercard Inc. Class A  34,573  8,850 
*  Dell Inc.  615,822  8,843 
*  Yahoo! Inc.  466,984  7,836 
  Automatic Data     
  Processing Inc.  175,779  7,527 
*  Adobe Systems Inc.  183,690  6,756 
  Applied Materials Inc.  466,703  6,506 
  Motorola Inc.  803,524  6,235 
*  Symantec Corp.  284,947  5,098 
*  Juniper Networks Inc.  183,433  4,892 
*  Broadcom Corp. Class A  152,756  4,804 
*  Cognizant Technology     
  Solutions Corp. Class A  102,525  4,644 
  Western Union Co.  245,451  4,627 
*  NetApp Inc.  117,616  4,045 
  Tyco Electronics Ltd.  160,535  3,941 
*  Marvell Technology     
  Group Ltd.  184,169  3,821 
*  Agilent Technologies Inc.  120,143  3,733 
*  NVIDIA Corp.  191,699  3,581 
  Paychex Inc.  113,710  3,484 
*  Western Digital Corp.  78,639  3,472 
*  Intuit Inc.  107,426  3,299 
  CA Inc.  146,574  3,292 
  Analog Devices Inc.  102,030  3,222 
  Seagate Technology  173,342  3,153 
*  Micron Technology Inc.  296,394  3,130 
*  Computer Sciences Corp.  53,067  3,053 
*  Salesforce.com Inc.  39,101  2,884 
  Amphenol Corp. Class A  60,046  2,773 
*  Citrix Systems Inc.  64,087  2,667 
*  Fiserv Inc.  54,047  2,620 
  Fidelity National Information   
  Services Inc.  110,362  2,587 
*  BMC Software Inc.  64,439  2,584 
  Xerox Corp.  304,272  2,574 
*  Sun Microsystems Inc.  263,326  2,467 
  Xilinx Inc.  96,651  2,422 
  Linear Technology Corp.  77,921  2,380 
  Altera Corp.  103,083  2,333 
*  SanDisk Corp.  79,582  2,307 
*  McAfee Inc.  55,070  2,234 
*  Activision Blizzard Inc.  200,392  2,226 
  Harris Corp.  46,377  2,205 
  Maxim Integrated     
  Products Inc.  107,222  2,177 
  KLA-Tencor Corp.  59,862  2,165 
*  Flextronics International Ltd.  284,241 2,078 
*  Autodesk Inc.  80,525  2,046 
*  Red Hat Inc.  65,852  2,035 
*  Electronic Arts Inc.  113,339  2,012 
*  Advanced Micro Devices Inc.  198,828 1,925 
*  Cree Inc.  33,756  1,903 
*  Affiliated Computer     
  Services Inc. Class A  31,860  1,902 
*  Teradata Corp.  60,210  1,892 
  Microchip Technology Inc.  63,930  1,858 
*  Lam Research Corp.  44,375  1,740 
*  FLIR Systems Inc.  52,950  1,733 
*  VeriSign Inc.  67,601  1,639 
*  Avnet Inc.  52,925  1,596 
*  Akamai Technologies Inc.  60,376  1,529 
  Global Payments Inc.  28,226  1,520 
*  F5 Networks Inc.  27,502  1,457 
*  Equinix Inc.  13,552  1,439 
*  LSI Corp.  227,275  1,366 
  Lender Processing     
  Services Inc.  33,527  1,363 
*  SAIC Inc.  71,465  1,354 
*  ANSYS Inc.  30,766  1,337 
  National Semiconductor Corp.  82,372  1,265 
*  Hewitt Associates Inc.     
  Class A  29,357  1,241 
*  ON Semiconductor Corp.  140,748  1,240 
*  Arrow Electronics Inc.  41,680  1,234 
*  Sybase Inc.  28,349  1,230 
*  Alliance Data Systems Corp.  18,527  1,197 
*  Synopsys Inc.  50,455  1,124 
  Jabil Circuit Inc.  63,508  1,103 
*  Nuance Communications Inc.  70,949 1,103 
  Broadridge Financial     
  Solutions Inc.  48,770  1,100 
*  Brocade Communications     
  Systems Inc.  140,034  1,068 
*  MEMC Electronic     
  Materials Inc.  78,238  1,066 
*  Trimble Navigation Ltd.  42,019  1,059 
  Factset Research     
  Systems Inc.  15,613  1,028 
  Total System Services Inc.  58,671  1,013 
*  Ingram Micro Inc.  51,396  897 
*  Dolby Laboratories Inc.     
  Class A  18,662  891 
*  AOL Inc.  37,748  879 

7


      Market 
      Value• 
    Shares  ($000) 
*  Novellus Systems Inc.  34,200  798 
*  VMware Inc. Class A  18,682  792 
*  Tellabs Inc.  131,212  745 
*  Lexmark International Inc.     
  Class A  27,189  706 
*  IAC/InterActiveCorp  33,495  686 
  Intersil Corp. Class A  42,919  658 
*  NCR Corp.  55,854  622 
*  DST Systems Inc.  13,967  608 
*  Cadence Design     
  Systems Inc.  92,306  553 
  Molex Inc. Class A  26,021  498 
  Molex Inc.  22,043  475 
*  Avago Technologies Ltd.  16,490  302 
      749,970 
Materials (3.8%)     
  Monsanto Co.  191,203  15,631 
*  Freeport-McMoRan     
  Copper & Gold Inc.  144,118  11,571 
  Dow Chemical Co.  400,533  11,067 
  EI du Pont de     
  Nemours & Co.  316,475  10,656 
  Praxair Inc.  107,383  8,624 
  Newmont Mining Corp.  167,865  7,942 
  Air Products &     
  Chemicals Inc.  73,610  5,967 
  Alcoa Inc.  340,879  5,495 
  Nucor Corp.  110,153  5,139 
  International Paper Co.  143,834  3,852 
  Ecolab Inc.  82,819  3,692 
  PPG Industries Inc.  57,696  3,377 
  Mosaic Co.  54,558  3,259 
  Weyerhaeuser Co.  73,948  3,190 
  United States Steel Corp.  50,095  2,761 
  Vulcan Materials Co.  43,812  2,308 
  Sigma-Aldrich Corp.  42,664  2,156 
  Cliffs Natural Resources Inc.  45,985  2,119 
*  Owens-Illinois Inc.  59,042  1,941 
  Lubrizol Corp.  23,755  1,733 
  MeadWestvaco Corp.  59,860  1,714 
  Ball Corp.  31,325  1,619 
  Celanese Corp. Class A  50,364  1,617 
  Eastman Chemical Co.  25,440  1,532 
  CF Industries Holdings Inc.  16,209  1,471 
*  Crown Holdings Inc.  55,818  1,428 
  Martin Marietta Materials Inc.  15,683 1,402 
  Walter Energy Inc.  18,586  1,400 
  Allegheny Technologies Inc.  30,952  1,386 
  FMC Corp.  24,063  1,342 
  Nalco Holding Co.  48,399  1,235 
  Airgas Inc.  25,778  1,227 
  Sealed Air Corp.  55,605  1,215 
  Steel Dynamics Inc.  67,492  1,196 
  International Flavors &     
  Fragrances Inc.  27,503  1,131 
      Market 
      Value• 
    Shares  ($000) 
  Terra Industries Inc.  34,921  1,124 
*  Pactiv Corp.  46,264  1,117 
  Bemis Co. Inc.  37,645  1,116 
  Sonoco Products Co.  35,129  1,027 
  Reliance Steel &     
  Aluminum Co.  23,244  1,005 
  Albemarle Corp.  25,696  935 
  Valspar Corp.  33,531  910 
  AK Steel Holding Corp.  38,120  814 
  Scotts Miracle-Gro Co.     
  Class A  16,020  630 
  Commercial Metals Co.  39,542  619 
*  Titanium Metals Corp.  41,016  513 
  Greif Inc. Class A  8,511  459 
      143,664 
Telecommunication Services (3.1%)   
  AT&T Inc.  2,065,958  57,909 
  Verizon     
  Communications Inc.  994,654  32,953 
*  American Tower Corp.     
  Class A  138,193  5,971 
*  Crown Castle     
  International Corp.  101,913  3,979 
  CenturyTel Inc.  104,019  3,767 
*  Sprint Nextel Corp.  1,017,561  3,724 
  Qwest Communications     
  International Inc.  543,464  2,288 
*  NII Holdings Inc.  58,132  1,952 
  Windstream Corp.  153,138  1,683 
*  SBA Communications     
  Corp. Class A  36,842  1,259 
*  Level 3     
  Communications Inc.  569,132  871 
  Frontier     
  Communications Corp.  109,726  857 
*  MetroPCS     
  Communications Inc.  85,730  654 
  Telephone & Data     
  Systems Inc.  17,985  610 
  Telephone & Data     
  Systems Inc. -     
  Special Common Shares  15,976  482 
*  United States Cellular Corp.  6,657  282 
      119,241 
Utilities (3.8%)     
  Exelon Corp.  230,901  11,284 
  Southern Co.  278,748  9,288 
  Dominion Resources Inc.  208,388  8,110 
  Duke Energy Corp.  454,231  7,817 
  FPL Group Inc.  136,761  7,224 
  Public Service Enterprise     
  Group Inc.  177,209  5,892 
  American Electric Power     
  Co. Inc.  166,944  5,808 
  PG&E Corp.  129,832  5,797 

8


      Market 
      Value• 
    Shares  ($000) 
  Entergy Corp.  68,622  5,616 
  FirstEnergy Corp.  106,853  4,963 
  Sempra Energy  81,582  4,567 
  Consolidated Edison Inc.  96,207  4,371 
  PPL Corp.  131,758  4,257 
  Progress Energy Inc.  97,720  4,008 
  Edison International  108,467  3,772 
  Xcel Energy Inc.  159,479  3,384 
*  AES Corp.  233,408  3,107 
  Questar Corp.  61,019  2,537 
  DTE Energy Co.  57,645  2,513 
  Ameren Corp.  81,790  2,286 
  Constellation Energy     
  Group Inc.  63,191  2,222 
*  NRG Energy Inc.  92,990  2,196 
  Wisconsin Energy Corp.  40,867  2,036 
  EQT Corp.  43,602  1,915 
  CenterPoint Energy Inc.  128,780  1,869 
  Northeast Utilities  61,341  1,582 
  Oneok Inc.  35,111  1,565 
  SCANA Corp.  40,582  1,529 
  NiSource Inc.  96,383  1,482 
  MDU Resources Group Inc.  61,369  1,448 
  Allegheny Energy Inc.  59,433  1,395 
  NSTAR  37,511  1,380 
  American Water Works     
  Co. Inc.  60,884  1,364 
*  Calpine Corp.  123,305  1,356 
  Pepco Holdings Inc.  77,074  1,299 
  Pinnacle West Capital Corp.  35,417  1,296 
  National Fuel Gas Co.  25,266  1,263 
  CMS Energy Corp.  80,370  1,259 
  OGE Energy Corp.  33,638  1,241 
  Alliant Energy Corp.  38,825  1,175 
  TECO Energy Inc.  71,159  1,154 
  Integrys Energy Group Inc.  26,844  1,127 
  DPL Inc.  40,759  1,125 
  Energen Corp.  23,732  1,111 
  NV Energy Inc.  81,929  1,014 
  UGI Corp.  37,937  918 
  Aqua America Inc.  47,522  832 
*  Mirant Corp.  50,498  771 
*  RRI Energy Inc.  123,175  705 
*  Dynegy Inc. Class A  179,338  325 
      146,555 
Total Common Stocks     
(Cost $3,851,691)    3,809,005 
    Market 
    Value• 
  Shares  ($000) 
Temporary Cash Investments (0.3%)1   
Money Market Fund (0.2%)   
2,3 Vanguard Market     
Liquidity Fund,     
0.187%  10,899,018  10,899 
 
  Face   
  Amount   
  ($000)   
U.S. Government and Agency Obligations (0.1%) 
4,5 Freddie Mac     
Discount Notes,     
0.175%, 3/31/10  2,000  1,999 
Total Temporary Cash Investments   
(Cost $12,898)    12,898 
Total Investments (100.1%)   
(Cost $3,864,589)    3,821,903 
Other Assets and Liabilities (–0.1%)   
Other Assets    8,363 
Liabilities3    (12,972) 
    (4,609) 
Net Assets (100%)    3,817,294 

9


At December 31, 2009, net assets consisted of: 
  Amount 
  ($000) 
Paid-in Capital  4,054,372 
Overdistributed Net Investment Income  (1,986) 
Accumulated Net Realized Losses  (192,447) 
Unrealized Appreciation (Depreciation)   
Investment Securities  (42,686) 
Futures Contracts  41 
Net Assets  3,817,294 
 
 
Investor Shares—Net Assets   
Applicable to 21,880,120 outstanding   
$.001 par value shares of beneficial   
interest (unlimited authorization)  447,844 
Net Asset Value Per Share—   
Investor Shares  $20.47 
 
 
Admiral Shares—Net Assets   
Applicable to 12,808,710 outstanding   
$.001 par value shares of beneficial   
interest (unlimited authorization)  327,819 
Net Asset Value Per Share—   
Admiral Shares  $25.59 
  Amount 
  ($000) 
Signal Shares—Net Assets   
Applicable to 11,044,918 outstanding   
$.001 par value shares of beneficial   
interest (unlimited authorization)  246,546 
Net Asset Value Per Share—   
Signal Shares  $22.32 
 
 
Institutional Shares—Net Assets   
Applicable to 2,904,849 outstanding   
$.001 par value shares of beneficial   
interest (unlimited authorization)  305,968 
Net Asset Value Per Share—   
Institutional Shares  $105.33 
 
 
ETF Shares—Net Assets   
Applicable to 49,120,444 outstanding   
$.001 par value shares of beneficial   
interest (unlimited authorization)  2,489,117 
Net Asset Value Per Share—   
ETF Shares  $50.67 

• 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 $5,685,000.
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 0.1%, 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 $5,982,000 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 $1,999,000 have been segregated as initial margin for open futures contracts.
REIT—Real Estate Investment Trust.

10


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© 2010 The Vanguard Group, Inc.
All rights reserved.
Vanguard Marketing Corporation, Distributor.

F03070 022010


Vanguard® Total Stock Market Index Fund
Schedule of Investments
December 31, 2009

      Market 
      Value 
    Shares  ($000) 
 
Common Stocks (99.8%)1     
Consumer Discretionary (10.2%)     
  McDonald's Corp.  10,688,113  667,366 
  Walt Disney Co.  17,515,931  564,889 
  Home Depot Inc.  16,682,264  482,618 
*  Amazon.com Inc.  3,383,170  455,104 
  Comcast Corp. Class A  24,205,542  408,105 
  Target Corp.  6,995,253  338,360 
  Time Warner Inc.  11,611,378  338,356 
  Lowe's Cos. Inc.  14,465,050  338,338 
  News Corp. Class A  21,911,322  299,966 
*  DIRECTV Class A  8,899,571  296,801 
*  Ford Motor Co.  27,768,340  277,683 
  NIKE Inc. Class B  3,634,363  240,122 
  Johnson Controls Inc.  6,578,779  179,206 
  Staples Inc.  7,074,280  173,957 
*  Starbucks Corp.  7,218,777  166,465 
*  Viacom Inc. Class B  5,381,551  159,993 
  Yum! Brands Inc.  4,569,267  159,787 
*  Kohl's Corp.  2,841,353  153,234 
  TJX Cos. Inc.  4,151,035  151,720 
  Time Warner Cable Inc.  3,450,915  142,833 
  Best Buy Co. Inc.  3,465,998  136,768 
*  Carnival Corp.  4,296,377  136,152 
  Omnicom Group Inc.  3,048,181  119,336 
  Coach Inc.  3,120,031  113,975 
  McGraw-Hill Cos. Inc.  3,088,162  103,484 
  Gap Inc.  4,785,178  100,249 
*  Bed Bath & Beyond Inc.  2,567,303  99,175 
*  priceline.com Inc.  393,747  86,034 
  CBS Corp. Class B  5,776,070  81,154 
  Marriott International Inc. Class A  2,965,807  80,818 
*  Apollo Group Inc. Class A  1,276,954  77,358 
  H&R Block Inc.  3,288,410  74,384 
  Mattel Inc.  3,530,574  70,541 
  Macy's Inc.  4,122,826  69,099 
  Starwood Hotels & Resorts Worldwide Inc.  1,833,816  67,063 
  VF Corp.  874,920  64,079 
  Fortune Brands Inc.  1,473,484  63,654 
  Cablevision Systems Corp. Class A  2,419,676  62,476 
*  Liberty Media Corp. - Interactive  5,556,665  60,234 
  Nordstrom Inc.  1,591,748  59,818 
  Sherwin-Williams Co.  969,662  59,780 
  Genuine Parts Co.  1,564,129  59,374 
  Whirlpool Corp.  726,413  58,592 
  Harley-Davidson Inc.  2,301,504  57,998 
  JC Penney Co. Inc.  2,083,262  55,436 
  International Game Technology  2,905,117  54,529 
  Ross Stores Inc.  1,242,650  53,074 
*  CarMax Inc.  2,163,292  52,460 
  Tiffany & Co.  1,217,265  52,342 
  Ltd Brands Inc.  2,682,697  51,615 
*  O'Reilly Automotive Inc.  1,341,369  51,133 
*  AutoZone Inc.  316,548  50,037 
*  Expedia Inc.  1,934,352  49,732 
*,^  Las Vegas Sands Corp.  3,239,730  48,402 
  Virgin Media Inc.  2,745,144  46,201 
  Darden Restaurants Inc.  1,300,432  45,606 
*,^  Sears Holdings Corp.  545,789  45,546 
  Polo Ralph Lauren Corp. Class A  557,284  45,129 
  Comcast Corp.  2,798,069  44,797 
*  Urban Outfitters Inc.  1,237,619  43,304 
  DISH Network Corp. Class A  2,043,439  42,442 


Vanguard® Total Stock Market Index Fund
Schedule of Investments
December 31, 2009

      Market 
      Value 
    Shares  ($000) 
*  Dollar Tree Inc.  876,708  42,345 
  Wynn Resorts Ltd.  725,329  42,236 
  Newell Rubbermaid Inc.  2,723,991  40,887 
*  Discovery Communications Inc. Class A  1,320,682  40,505 
  Hasbro Inc.  1,235,429  39,608 
  Black & Decker Corp.  591,032  38,317 
  BorgWarner Inc.  1,145,575  38,056 
  Advance Auto Parts Inc.  937,257  37,940 
  Scripps Networks Interactive Inc. Class A  884,325  36,699 
*  Discovery Communications Inc.  1,381,261  36,631 
  Family Dollar Stores Inc.  1,303,162  36,267 
^  Garmin Ltd.  1,181,163  36,262 
  Autoliv Inc.  835,164  36,213 
  DeVry Inc.  628,932  35,679 
*  ITT Educational Services Inc.  370,277  35,532 
  Wyndham Worldwide Corp.  1,753,745  35,373 
*  Interpublic Group of Cos. Inc.  4,774,201  35,234 
*  Royal Caribbean Cruises Ltd.  1,364,493  34,494 
  Gannett Co. Inc.  2,303,039  34,200 
*  GameStop Corp. Class A  1,536,449  33,710 
  Pulte Homes Inc.  3,367,732  33,677 
  PetSmart Inc.  1,227,965  32,774 
*  NVR Inc.  45,655  32,447 
*  Goodyear Tire & Rubber Co.  2,257,302  31,828 
  American Eagle Outfitters Inc.  1,824,864  30,986 
  DR Horton Inc.  2,797,992  30,414 
  Abercrombie & Fitch Co.  863,041  30,077 
  Leggett & Platt Inc.  1,455,026  29,683 
^  Strayer Education Inc.  137,317  29,178 
  Tupperware Brands Corp.  617,921  28,777 
*  Liberty Global Inc. Class A  1,289,557  28,254 
*  Chipotle Mexican Grill Inc. Class A  310,120  27,340 
*  Mohawk Industries Inc.  570,817  27,171 
*  Marvel Entertainment Inc.  501,359  27,113 
  Jarden Corp.  869,849  26,887 
*  DreamWorks Animation SKG Inc. Class A  665,397  26,583 
*,^  NetFlix Inc.  478,692  26,395 
  Washington Post Co. Class B  59,716  26,251 
*  Liberty Global Inc.  1,170,667  25,579 
*  Toll Brothers Inc.  1,343,459  25,270 
*  Chico's FAS Inc.  1,739,953  24,446 
*  LKQ Corp.  1,244,655  24,383 
  Gentex Corp.  1,351,822  24,130 
  RadioShack Corp.  1,229,769  23,980 
*  MGM Mirage  2,595,688  23,673 
*  Big Lots Inc.  811,821  23,527 
  Guess? Inc.  542,579  22,951 
*  Sirius XM Radio Inc.  38,224,434  22,935 
  Harman International Industries Inc.  646,457  22,807 
*  Aeropostale Inc.  662,318  22,552 
*  Hanesbrands Inc.  931,024  22,447 
*  Liberty Media Corp. - Starz  486,292  22,442 
*  Lamar Advertising Co. Class A  715,269  22,238 
*  J Crew Group Inc.  494,228  22,112 
*  AutoNation Inc.  1,138,457  21,801 
*  Dick's Sporting Goods Inc.  857,512  21,326 
*  Liberty Media Corp. - Capital  884,396  21,119 
*  Bally Technologies Inc.  510,617  21,083 
  Phillips-Van Heusen Corp.  506,734  20,614 
  Service Corp. International  2,470,364  20,232 
*  WMS Industries Inc.  496,750  19,870 
*  Panera Bread Co. Class A  292,681  19,601 
*  Career Education Corp.  836,946  19,509 
*  Warnaco Group Inc.  447,109  18,864 


Vanguard® Total Stock Market Index Fund
Schedule of Investments
December 31, 2009

      Market 
      Value 
    Shares  ($000) 
  Wendy's/Arby's Group Inc. Class A  3,935,395  18,457 
  Williams-Sonoma Inc.  884,642  18,383 
  John Wiley & Sons Inc. Class A  431,577  18,074 
*  Penn National Gaming Inc.  657,244  17,864 
  Burger King Holdings Inc.  928,634  17,477 
*  Office Depot Inc.  2,703,347  17,437 
  Foot Locker Inc.  1,533,342  17,081 
*  Tractor Supply Co.  319,317  16,911 
*  New York Times Co. Class A  1,340,447  16,568 
*  TRW Automotive Holdings Corp.  682,142  16,290 
  WABCO Holdings Inc.  627,689  16,188 
*  Tempur-Pedic International Inc.  661,335  15,627 
*  Fossil Inc.  457,855  15,366 
  Brinker International Inc.  1,005,322  14,999 
  Sotheby's  656,698  14,763 
*  Brink's Home Security Holdings Inc.  449,035  14,656 
*  Carter's Inc.  557,552  14,636 
  Lennar Corp. Class A  1,144,444  14,615 
*  Collective Brands Inc.  631,041  14,369 
*  Dana Holding Corp.  1,324,998  14,363 
  Jones Apparel Group Inc.  837,999  13,458 
  Polaris Industries Inc.  305,543  13,331 
  Wolverine World Wide Inc.  484,674  13,193 
*  Dress Barn Inc.  570,871  13,187 
*  Deckers Outdoor Corp.  129,373  13,160 
*  Gymboree Corp.  292,360  12,715 
  Aaron's Inc.  447,217  12,401 
*  Cheesecake Factory Inc.  560,602  12,103 
  Regal Entertainment Group Class A  831,392  12,005 
*  Rent-A-Center Inc.  651,829  11,550 
*  Charming Shoppes Inc.  1,779,086  11,511 
*  Lululemon Athletica Inc.  380,987  11,468 
  Hillenbrand Inc.  608,523  11,465 
  MDC Holdings Inc.  368,677  11,444 
*  Corinthian Colleges Inc.  812,620  11,190 
  Thor Industries Inc.  356,045  11,180 
*  Eastman Kodak Co.  2,648,782  11,178 
*  Jack in the Box Inc.  565,848  11,130 
  Cooper Tire & Rubber Co.  553,274  11,093 
  Brunswick Corp.  867,262  11,023 
  Meredith Corp.  352,080  10,862 
  KB Home  779,197  10,659 
*  Hyatt Hotels Corp. Class A  356,679  10,633 
  Matthews International Corp. Class A  297,777  10,550 
*  Capella Education Co.  139,445  10,500 
*  Tenneco Inc.  584,532  10,364 
  Choice Hotels International Inc.  324,956  10,288 
  Men's Wearhouse Inc.  485,694  10,229 
  Dillard's Inc. Class A  550,335  10,154 
*  Scientific Games Corp. Class A  687,131  9,998 
  Weight Watchers International Inc.  341,467  9,957 
*  Skechers U.S.A. Inc. Class A  332,345  9,774 
*  Vail Resorts Inc.  251,937  9,523 
*  OfficeMax Inc.  750,255  9,521 
  NutriSystem Inc.  303,152  9,449 
*  Jo-Ann Stores Inc.  259,925  9,420 
  Interactive Data Corp.  369,499  9,348 
  Scholastic Corp.  310,470  9,261 
*  Morningstar Inc.  191,078  9,237 
  Pool Corp.  480,781  9,173 
*  Life Time Fitness Inc.  366,806  9,144 
*,^  Under Armour Inc. Class A  333,903  9,106 
*  Blue Nile Inc.  143,354  9,079 
*  Saks Inc.  1,363,259  8,943 


Vanguard® Total Stock Market Index Fund
Schedule of Investments
December 31, 2009

      Market 
      Value 
    Shares  ($000) 
*  Gaylord Entertainment Co.  452,060  8,928 
*  Iconix Brand Group Inc.  705,430  8,924 
  Bob Evans Farms Inc.  306,171  8,864 
  Regis Corp.  562,228  8,754 
*  Valassis Communications Inc.  475,528  8,683 
  Monro Muffler Brake Inc.  257,863  8,623 
  Ryland Group Inc.  432,229  8,515 
*  PF Chang's China Bistro Inc.  222,690  8,442 
  Cracker Barrel Old Country Store Inc.  222,211  8,442 
*  HSN Inc.  416,783  8,415 
*  Coinstar Inc.  300,350  8,344 
*  Childrens Place Retail Stores Inc.  248,010  8,187 
  American Greetings Corp. Class A  374,993  8,171 
*  Exide Technologies  1,139,130  8,099 
^  Buckle Inc.  272,750  7,986 
*  AnnTaylor Stores Corp.  581,152  7,927 
*  Timberland Co. Class A  436,068  7,819 
  International Speedway Corp. Class A  266,588  7,584 
*  JOS A Bank Clothiers Inc.  179,012  7,553 
^  Barnes & Noble Inc.  393,395  7,502 
*  ArvinMeritor Inc.  670,632  7,498 
*  Orient-Express Hotels Ltd. Class A  738,538  7,489 
*  CEC Entertainment Inc.  231,032  7,375 
  National CineMedia Inc.  437,712  7,253 
*  Helen of Troy Ltd.  294,953  7,215 
*  Liz Claiborne Inc.  1,279,605  7,204 
  Cato Corp. Class A  356,686  7,155 
*  DSW Inc. Class A  274,181  7,096 
*  Steak N Shake Co.  21,358  6,923 
  Arbitron Inc.  290,103  6,794 
*  Steven Madden Ltd.  164,272  6,775 
*  Hibbett Sports Inc.  304,101  6,687 
*  CTC Media Inc.  446,637  6,655 
  Finish Line Inc. Class A  514,554  6,458 
*  Live Nation Inc.  752,721  6,406 
*  Pinnacle Entertainment Inc.  712,308  6,397 
*  Lions Gate Entertainment Corp.  1,100,299  6,393 
*  99 Cents Only Stores  465,752  6,087 
*  Modine Manufacturing Co.  511,244  6,053 
*  Penske Auto Group Inc.  392,974  5,965 
*  Buffalo Wild Wings Inc.  146,916  5,916 
*  Standard Pacific Corp.  1,577,106  5,898 
  Unifirst Corp.  118,094  5,681 
  Columbia Sportswear Co.  144,830  5,654 
*  American Public Education Inc.  163,687  5,624 
*  Group 1 Automotive Inc.  195,920  5,554 
*  Sally Beauty Holdings Inc.  700,573  5,359 
*  Papa John's International Inc.  229,113  5,352 
*  Sonic Corp.  531,171  5,349 
*,^  Cabela's Inc.  375,066  5,348 
*  Domino's Pizza Inc.  632,998  5,305 
*  True Religion Apparel Inc.  286,002  5,288 
  Ameristar Casinos Inc.  345,301  5,259 
*  Meritage Homes Corp.  270,255  5,224 
*  Texas Roadhouse Inc. Class A  463,932  5,210 
*  Fuel Systems Solutions Inc.  124,701  5,143 
  Callaway Golf Co.  672,593  5,071 
*  Universal Technical Institute Inc.  243,325  4,915 
*  Genesco Inc.  175,506  4,819 
*  Interval Leisure Group Inc.  382,361  4,768 
*  Boyd Gaming Corp.  562,496  4,708 
  Stage Stores Inc.  369,882  4,572 
  Harte-Hanks Inc.  413,729  4,460 
*  Clear Channel Outdoor Holdings Inc. Class A  422,556  4,390 


Vanguard® Total Stock Market Index Fund
Schedule of Investments
December 31, 2009

      Market 
      Value 
    Shares  ($000) 
*  Pre-Paid Legal Services Inc.  106,177  4,362 
  National Presto Industries Inc.  39,728  4,339 
*  Steiner Leisure Ltd.  108,806  4,326 
  PetMed Express Inc.  242,157  4,269 
*  Ruby Tuesday Inc.  584,939  4,212 
*  Ticketmaster Entertainment Inc.  337,613  4,126 
  Fred's Inc. Class A  403,987  4,121 
  CKE Restaurants Inc.  477,137  4,037 
  Stewart Enterprises Inc. Class A  781,091  4,023 
*  Lumber Liquidators Inc.  146,800  3,934 
*  American Axle & Manufacturing Holdings Inc.  484,790  3,888 
  Belo Corp. Class A  710,979  3,868 
  Brown Shoe Co. Inc.  385,293  3,803 
*  Coldwater Creek Inc.  852,132  3,800 
*  CROCS Inc.  651,596  3,747 
*  La-Z-Boy Inc.  391,902  3,735 
*  Federal Mogul Corp.  209,998  3,633 
  Superior Industries International Inc.  233,983  3,580 
*  EW Scripps Co. Class A  507,172  3,530 
*  Wet Seal Inc. Class A  1,019,439  3,517 
^  Sturm Ruger & Co. Inc.  361,833  3,510 
  Ethan Allen Interiors Inc.  259,903  3,488 
*  Landry's Restaurants Inc.  161,465  3,438 
  Cinemark Holdings Inc.  237,872  3,418 
  PEP Boys-Manny Moe & Jack  401,038  3,393 
*  Ulta Salon Cosmetics & Fragrance Inc.  186,512  3,387 
*  Pier 1 Imports Inc.  661,484  3,367 
*  RCN Corp.  310,011  3,364 
  News Corp. Class B  211,134  3,361 
*  DineEquity Inc.  138,371  3,361 
*  hhgregg Inc.  151,498  3,337 
*  Shuffle Master Inc.  404,554  3,334 
*  Shutterfly Inc.  185,132  3,297 
*  Peet's Coffee & Tea Inc.  98,211  3,273 
*  Drew Industries Inc.  158,131  3,265 
*  America's Car-Mart Inc.  121,756  3,206 
*  Winnebago Industries  261,087  3,185 
  Systemax Inc.  198,356  3,116 
*  California Pizza Kitchen Inc.  230,255  3,097 
  Big 5 Sporting Goods Corp.  177,707  3,053 
*  K12 Inc.  147,053  2,981 
*  Quiksilver Inc.  1,474,234  2,978 
*  Furniture Brands International Inc.  544,538  2,973 
*  Rentrak Corp.  168,229  2,973 
  Sonic Automotive Inc. Class A  284,359  2,954 
*  HOT Topic Inc.  458,496  2,916 
  World Wrestling Entertainment Inc. Class A  189,947  2,912 
*  Citi Trends Inc.  105,303  2,908 
*  Drugstore.Com Inc.  940,106  2,905 
*  Asbury Automotive Group Inc.  249,236  2,874 
  Churchill Downs Inc.  74,749  2,792 
*  CKX Inc.  519,044  2,735 
*  Knology Inc.  249,369  2,731 
*  Core-Mark Holding Co. Inc.  82,567  2,721 
*  Maidenform Brands Inc.  162,202  2,707 
  Lennar Corp. Class B  273,234  2,689 
*  Denny's Corp.  1,225,734  2,684 
*  Stein Mart Inc.  242,096  2,581 
*  Unifi Inc.  664,777  2,579 
  K-Swiss Inc. Class A  257,732  2,562 
*  Jakks Pacific Inc.  208,135  2,523 
*  G-III Apparel Group Ltd.  115,531  2,504 
*,^  Fuqi International Inc.  139,200  2,499 
*  Mediacom Communications Corp. Class A  551,412  2,465 


Vanguard® Total Stock Market Index Fund
Schedule of Investments
December 31, 2009

      Market 
      Value 
    Shares  ($000) 
*  Kirkland's Inc.  141,488  2,458 
*  Carmike Cinemas Inc.  322,803  2,440 
*  BJ's Restaurants Inc.  129,437  2,436 
  Christopher & Banks Corp.  312,954  2,385 
*  Lincoln Educational Services Corp.  108,623  2,354 
*  Ascent Media Corp. Class A  92,159  2,353 
*,^  Hovnanian Enterprises Inc. Class A  608,874  2,338 
*  FGX International Holdings Ltd.  117,538  2,303 
*  Standard Motor Products Inc.  268,318  2,286 
*  Beazer Homes USA Inc.  468,529  2,268 
  CPI Corp.  179,139  2,200 
*  Retail Ventures Inc.  245,574  2,183 
  Oxford Industries Inc.  105,094  2,173 
*  Pacific Sunwear Of California  546,035  2,173 
  Blyth Inc.  64,256  2,167 
*  Select Comfort Corp.  330,928  2,158 
*  Warner Music Group Corp.  377,980  2,139 
*  Alloy Inc.  273,701  2,129 
*  Red Robin Gourmet Burgers Inc.  116,915  2,093 
*  Universal Electronics Inc.  89,157  2,070 
  Sinclair Broadcast Group Inc. Class A  509,071  2,052 
  Marcus Corp.  158,407  2,031 
  Journal Communications Inc. Class A  516,521  2,009 
*  Perry Ellis International Inc.  133,406  2,009 
  Speedway Motorsports Inc.  113,802  2,005 
*  RC2 Corp.  134,965  1,991 
*  Cavco Industries Inc.  55,249  1,985 
*  Steinway Musical Instruments  123,485  1,965 
  Movado Group Inc.  199,207  1,936 
*  iRobot Corp.  109,584  1,929 
*,^  Smith & Wesson Holding Corp.  464,251  1,899 
*  Volcom Inc.  113,309  1,897 
*,^  Talbots Inc.  209,215  1,864 
*  Zumiez Inc.  139,812  1,778 
*  Grand Canyon Education Inc.  93,315  1,774 
  Hooker Furniture Corp.  136,848  1,693 
*  Bridgepoint Education Inc.  112,267  1,686 
*  Stanley Furniture Co. Inc.  165,753  1,682 
*  Amerigon Inc.  207,529  1,648 
*  American Apparel Inc.  530,580  1,645 
*,^  Overstock.com Inc.  119,661  1,623 
*  AH Belo Corp. Class A  277,542  1,599 
*  ChinaCast Education Corp.  211,254  1,597 
*  Stoneridge Inc.  175,974  1,586 
  Cherokee Inc.  88,963  1,585 
*  Learning Tree International Inc.  132,563  1,583 
*  Dorman Products Inc.  100,818  1,579 
  Ambassadors Group Inc.  116,150  1,544 
*  Orbitz Worldwide Inc.  210,010  1,541 
*  LIN TV Corp. Class A  340,625  1,519 
*  Stamps.com Inc.  166,619  1,500 
*  Dolan Media Co.  146,273  1,493 
*  Midas Inc.  175,520  1,483 
  Weyco Group Inc.  62,203  1,470 
*  Rex Stores Corp.  102,859  1,446 
*  Arctic Cat Inc.  156,375  1,432 
*  Youbet.com Inc.  494,681  1,420 
*  Martha Stewart Living Omnimedia Class A  281,087  1,389 
*  Famous Dave's Of America Inc.  228,486  1,382 
  Haverty Furniture Cos. Inc.  100,210  1,376 
*  Hawk Corp. Class A  77,622  1,367 
*  Leapfrog Enterprises Inc.  341,837  1,337 
  Bebe Stores Inc.  212,738  1,334 
^  Bon-Ton Stores Inc.  135,855  1,333 


Vanguard® Total Stock Market Index Fund
Schedule of Investments
December 31, 2009

      Market 
      Value 
    Shares  ($000) 
*  O'Charleys Inc.  203,105  1,330 
*  Audiovox Corp. Class A  183,839  1,303 
*  AFC Enterprises Inc.  159,071  1,298 
  Spartan Motors Inc.  230,153  1,296 
*  Krispy Kreme Doughnuts Inc.  437,188  1,290 
*  Carriage Services Inc. Class A  327,537  1,287 
  Jackson Hewitt Tax Service Inc.  292,493  1,287 
*  Monarch Casino & Resort Inc.  150,360  1,218 
*,^  Blockbuster Inc. Class A  1,805,063  1,209 
*  Radio One Inc.  413,901  1,200 
*  Isle of Capri Casinos Inc.  159,746  1,195 
*,^  Quantum Fuel Systems Technologies Worldwide Inc.  1,074,350  1,193 
  CSS Industries Inc.  61,265  1,191 
*  Strattec Security Corp.  63,845  1,181 
*  Multimedia Games Inc.  193,582  1,163 
*  Kid Brands Inc.  262,535  1,150 
*  Gaiam Inc. Class A  143,140  1,101 
*  Shoe Carnival Inc.  53,653  1,098 
*  Zale Corp.  398,010  1,083 
*  Sealy Corp.  337,861  1,068 
*  Jamba Inc.  631,292  1,061 
*  M/I Homes Inc.  101,098  1,050 
*  Daily Journal Corp.  17,529  1,039 
^  McClatchy Co. Class A  293,281  1,038 
*  Playboy Enterprises Inc. Class B  323,841  1,036 
*,^  Brookfield Homes Corp.  128,917  1,031 
*  Mac-Gray Corp.  98,737  1,017 
*  Rubio's Restaurants Inc.  137,023  988 
*  New York & Co. Inc.  229,181  983 
*  MarineMax Inc.  101,965  937 
*  Destination Maternity Corp.  49,107  933 
*  Lithia Motors Inc. Class A  111,514  917 
*  Princeton Review Inc.  222,028  901 
*  Kenneth Cole Productions Inc. Class A  92,292  891 
*  Lee Enterprises Inc.  248,140  861 
*  Navarre Corp.  393,529  834 
*  Cache Inc.  174,683  798 
*  Morgans Hotel Group Co.  176,057  798 
  Primedia Inc.  219,286  792 
  Dover Downs Gaming & Entertainment Inc.  207,664  785 
*  Cumulus Media Inc. Class A  338,403  772 
*  West Marine Inc.  91,940  741 
*  Entercom Communications Corp. Class A  102,829  727 
  Heelys Inc.  318,703  695 
*  Red Lion Hotels Corp.  139,613  690 
*,^  Raser Technologies Inc.  556,080  690 
  Skyline Corp.  36,907  679 
  Marine Products Corp.  136,760  674 
*  Fisher Communications Inc.  41,340  672 
*  Empire Resorts Inc.  313,271  661 
*  Media General Inc. Class A  83,292  653 
*  Outdoor Channel Holdings Inc.  108,351  628 
  Books-A-Million Inc.  90,159  606 
*  Great Wolf Resorts Inc.  248,722  589 
*  McCormick & Schmick's Seafood Restaurants Inc.  83,802  583 
*  1-800-Flowers.com Inc. Class A  210,760  559 
*  Saga Communications Inc. Class A  44,130  554 
*  Carrols Restaurant Group Inc.  77,058  545 
*  Build-A-Bear Workshop Inc.  110,728  541 
*  dELiA*s Inc.  276,488  517 
*  Bassett Furniture Industries Inc.  144,672  509 
*  Hastings Entertainment Inc.  110,957  495 
*  Johnson Outdoors Inc. Class A  48,063  470 
*  Harris Interactive Inc.  388,366  462 


Vanguard® Total Stock Market Index Fund
Schedule of Investments
December 31, 2009

      Market 
      Value 
    Shares  ($000) 
*  Salem Communications Corp. Class A  75,777  454 
*  Entravision Communications Corp. Class A  131,331  447 
*  Luby's Inc.  120,681  444 
  Dover Motorsports Inc.  204,207  427 
*  MAXXAM Inc.  162  422 
  Hallwood Group Inc.  10,700  415 
*  Borders Group Inc.  337,189  398 
*  Lifetime Brands Inc.  55,386  396 
*  Morton's Restaurant Group Inc.  133,881  390 
*  Wonder Auto Technology Inc.  32,879  387 
*  Duckwall-ALCO Stores Inc.  23,363  359 
*  Gander Mountain Co.  68,721  350 
*  Benihana Inc. Class A  92,072  349 
*  Century Casinos Inc.  129,286  348 
*  Town Sports International Holdings Inc.  146,010  340 
*,^  Conn's Inc.  56,748  331 
*  Emerson Radio Corp.  135,771  320 
*  Rick's Cabaret International Inc.  36,817  315 
*  Reading International Inc. Class A  75,263  305 
*  Premier Exhibitions Inc.  209,740  304 
*  Bluegreen Corp.  125,143  303 
*  Nautilus Inc.  141,505  287 
*  MTR Gaming Group Inc.  208,151  271 
*  Beasley Broadcasting Group Inc. Class A  75,914  269 
*  EDCI Holdings Inc.  45,540  267 
*  Tuesday Morning Corp.  101,677  262 
*  Spanish Broadcasting System Inc.  320,397  250 
*  Trans World Entertainment  160,982  243 
*  LodgeNet Interactive Corp.  43,500  241 
*  Private Media Group Inc.  377,589  238 
*  Hollywood Media Corp.  166,237  233 
*  Joe's Jeans Inc.  171,820  232 
  Aaron's Inc. Class A  10,125  231 
*  Lakes Entertainment Inc.  90,056  226 
*  Nexstar Broadcasting Group Inc. Class A  55,775  226 
*  Escalade Inc.  92,811  223 
*  Dixie Group Inc.  80,217  217 
*  China Automotive Systems Inc.  10,628  199 
*  Shiloh Industries Inc.  36,486  193 
*  Canterbury Park Holding Corp.  24,400  176 
*  Cost Plus Inc.  170,645  174 
*  Blockbuster Inc. Class B  280,668  166 
  Frisch's Restaurants Inc.  6,687  159 
*  Benihana Inc. Class A  37,839  159 
*  ante4 Inc.  132,858  137 
*  Palm Harbor Homes Inc.  65,633  136 
*  AC Moore Arts & Crafts Inc.  46,071  135 
*  Valuevision Media Inc. Class A  26,226  126 
*  Sport Chalet Inc. Class A  61,400  110 
*  SORL Auto Parts Inc.  11,323  97 
*  Atrinsic Inc.  144,106  95 
*  Lodgian Inc.  62,056  92 
*  Casual Male Retail Group Inc.  37,355  87 
  Gaming Partners International Corp.  13,554  76 
*  Hovnanian Enterprises Inc. Class B  19,300  74 
*  4Kids Entertainment Inc.  41,636  66 
*,^  Orleans Homebuilders Inc.  37,570  61 
*  Craftmade International Inc.  30,460  58 
*  Tandy Brands Accessories Inc.  17,002  49 
*  Gray Television Inc.  32,600  49 
*  Lazare Kaplan International Inc.  15,258  38 
*  VCG Holding Corp.  17,600  37 
*  Nobel Learning Communities Inc.  3,308  25 
*  Delta Apparel Inc.  1,600  17 


Vanguard® Total Stock Market Index Fund
Schedule of Investments
December 31, 2009

      Market 
      Value 
    Shares  ($000) 
*,^  RHI Entertainment Inc.  48,739  15 
*  SPAR Group Inc.  16,174  13 
*  Emmis Communications Corp. Class A  6,535  8 
*  Crown Media Holdings Inc. Class A  3,800  5 
*  Sport Chalet Inc. Class B  1,825  4 
*  Global Traffic Network Inc.  300  1 
*  Krispy Kreme Doughnuts Inc. Warrants Exp. 3/2/12  9,739  1 
  Educational Development Corp.  3  — 
      12,266,834 
Consumer Staples (9.8%)     
  Procter & Gamble Co.  28,587,234  1,733,244 
  Wal-Mart Stores Inc.  22,896,854  1,223,837 
  Coca-Cola Co.  20,426,251  1,164,296 
  PepsiCo Inc.  15,258,225  927,700 
  Philip Morris International Inc.  18,945,106  912,965 
  CVS Caremark Corp.  14,134,327  455,267 
  Colgate-Palmolive Co.  4,881,426  401,009 
  Altria Group Inc.  20,285,927  398,213 
  Kraft Foods Inc.  14,445,019  392,616 
  Walgreen Co.  9,718,885  356,877 
  Kimberly-Clark Corp.  4,059,399  258,624 
  Costco Wholesale Corp.  4,259,002  252,005 
  General Mills Inc.  3,188,187  225,756 
  Archer-Daniels-Midland Co.  5,659,076  177,186 
  Sysco Corp.  5,788,169  161,721 
  Kellogg Co.  2,624,625  139,630 
  HJ Heinz Co.  3,090,923  132,168 
  Avon Products Inc.  4,186,865  131,886 
  Lorillard Inc.  1,618,788  129,875 
  Kroger Co.  6,070,073  124,619 
  ConAgra Foods Inc.  4,348,138  100,225 
  Reynolds American Inc.  1,714,009  90,791 
  Mead Johnson Nutrition Co. Class A  2,006,514  87,685 
  Safeway Inc.  4,083,746  86,943 
  Clorox Co.  1,366,467  83,354 
  Bunge Ltd.  1,299,574  82,952 
  Sara Lee Corp.  6,480,876  78,937 
  JM Smucker Co.  1,166,227  72,015 
  Dr Pepper Snapple Group Inc.  2,491,879  70,520 
  Campbell Soup Co.  2,061,105  69,665 
  Molson Coors Brewing Co. Class B  1,489,620  67,271 
  Coca-Cola Enterprises Inc.  2,870,895  60,863 
  Hershey Co.  1,551,554  55,530 
  Pepsi Bottling Group Inc.  1,479,590  55,485 
  Estee Lauder Cos. Inc. Class A  1,105,851  53,479 
  McCormick & Co. Inc.  1,161,601  41,969 
  Brown-Forman Corp. Class B  780,176  41,794 
  Church & Dwight Co. Inc.  689,505  41,681 
*  Energizer Holdings Inc.  647,210  39,661 
*  Whole Foods Market Inc.  1,379,465  37,866 
  Tyson Foods Inc. Class A  2,862,952  35,128 
*  Ralcorp Holdings Inc.  556,115  33,206 
*  Dean Foods Co.  1,767,636  31,888 
*  Constellation Brands Inc. Class A  1,935,535  30,833 
*  Hansen Natural Corp.  757,319  29,081 
*  Green Mountain Coffee Roasters Inc.  341,974  27,861 
  Hormel Foods Corp.  724,348  27,851 
  SUPERVALU Inc.  2,078,464  26,417 
  Alberto-Culver Co. Class B  866,887  25,391 
  Herbalife Ltd.  606,234  24,595 
*  NBTY Inc.  546,936  23,814 
*  Smithfield Foods Inc.  1,460,503  22,185 
  Del Monte Foods Co.  1,943,734  22,042 
  Corn Products International Inc.  732,913  21,423 


Vanguard® Total Stock Market Index Fund
Schedule of Investments
December 31, 2009

      Market 
      Value 
    Shares  ($000) 
  Flowers Foods Inc.  814,366  19,349 
*  Central European Distribution Corp.  640,587  18,199 
  PepsiAmericas Inc.  612,498  17,922 
*  BJ's Wholesale Club Inc.  546,301  17,870 
  Casey's General Stores Inc.  501,530  16,009 
*  Chattem Inc.  168,169  15,690 
  Nu Skin Enterprises Inc. Class A  494,443  13,286 
*  TreeHouse Foods Inc.  311,977  12,123 
  Universal Corp.  243,944  11,126 
*  United Natural Foods Inc.  403,610  10,793 
  Ruddick Corp.  407,754  10,492 
*  Fresh Del Monte Produce Inc.  438,214  9,685 
  Lancaster Colony Corp.  193,832  9,633 
*  Rite Aid Corp.  6,122,836  9,245 
  Sanderson Farms Inc.  197,531  8,328 
*  Chiquita Brands International Inc.  439,681  7,932 
*  Bare Escentuals Inc.  630,709  7,714 
*  Darling International Inc.  920,244  7,712 
  Diamond Foods Inc.  193,634  6,882 
*  Hain Celestial Group Inc.  383,052  6,516 
  Lance Inc.  247,319  6,504 
  Vector Group Ltd.  452,665  6,337 
  Nash Finch Co.  162,418  6,024 
*  American Italian Pasta Co.  171,010  5,949 
  Tootsie Roll Industries Inc.  202,428  5,542 
*  Winn-Dixie Stores Inc.  525,936  5,280 
  J&J Snack Foods Corp.  130,736  5,224 
  Cal-Maine Foods Inc.  152,051  5,182 
  WD-40 Co.  150,554  4,872 
*  Boston Beer Co. Inc. Class A  101,619  4,735 
*  Medifast Inc.  146,148  4,469 
*,^  Great Atlantic & Pacific Tea Co.  365,885  4,314 
  Andersons Inc.  157,133  4,057 
  Weis Markets Inc.  110,374  4,013 
*  Heckmann Corp.  803,700  4,010 
*  Alliance One International Inc.  781,949  3,816 
*,^  American Dairy Inc.  169,282  3,670 
*  Central Garden and Pet Co. Class A  365,851  3,637 
  Coca-Cola Bottling Co. Consolidated  62,081  3,354 
*  Smart Balance Inc.  541,715  3,250 
  Spartan Stores Inc.  222,053  3,173 
*  Revlon Inc. Class A  185,262  3,151 
*  Zhongpin Inc.  191,700  2,992 
  Pricesmart Inc.  144,762  2,959 
  B&G Foods Inc. Class A  320,643  2,943 
*  USANA Health Sciences Inc.  91,127  2,907 
*  Elizabeth Arden Inc.  195,175  2,818 
*  Pantry Inc.  190,350  2,587 
*  John B. Sanfilippo & Son Inc.  164,300  2,557 
*  Central Garden and Pet Co.  230,992  2,472 
  Village Super Market Inc. Class A  80,734  2,206 
  Imperial Sugar Co.  125,312  2,185 
*,^  American Oriental Bioengineering Inc.  468,045  2,176 
*  Prestige Brands Holdings Inc.  276,462  2,173 
*,^  China Sky One Medical Inc.  78,791  1,792 
*  Nutraceutical International Corp.  123,859  1,532 
  Calavo Growers Inc.  88,600  1,506 
  Tasty Baking Co.  220,008  1,481 
  Oil-Dri Corp. of America  95,475  1,480 
*  Physicians Formula Holdings Inc.  545,642  1,479 
  Ingles Markets Inc. Class A  91,382  1,383 
*,^  Lifeway Foods Inc.  110,761  1,316 
*  Reddy Ice Holdings Inc.  293,594  1,260 
  Schiff Nutrition International Inc.  158,625  1,240 


Vanguard® Total Stock Market Index Fund
Schedule of Investments
December 31, 2009

      Market 
      Value 
    Shares  ($000) 
*  National Beverage Corp.  85,259  1,182 
  Arden Group Inc.  10,399  994 
  Inter Parfums Inc.  81,167  988 
  Alico Inc.  34,069  970 
  Farmer Bros Co.  38,062  751 
  Mannatech Inc.  212,372  663 
*  Seneca Foods Corp. Class A  27,524  657 
  Griffin Land & Nurseries Inc.  21,072  614 
*  Female Health Co.  105,927  501 
*  Omega Protein Corp.  112,817  492 
  Reliv International Inc.  146,063  479 
*  MGP Ingredients Inc.  55,744  426 
*  Inventure Group Inc.  143,402  338 
*,^  Star Scientific Inc.  423,326  296 
*  Harbinger Group Inc.  41,705  293 
*  Susser Holdings Corp.  33,174  285 
*  Parlux Fragrances Inc.  120,858  249 
*,^  AgFeed Industries Inc.  49,527  248 
*  HQ Sustainable Maritime Industries Inc.  11,959  84 
*  Vermont Pure Holdings Ltd.  33,000  20 
*  Jones Soda Co.  25,244  11 
      11,792,949 
Energy (11.0%)     
  Exxon Mobil Corp.  47,065,421  3,209,391 
  Chevron Corp.  19,640,954  1,512,157 
  Schlumberger Ltd.  11,730,954  763,568 
  ConocoPhillips  13,796,735  704,599 
  Occidental Petroleum Corp.  7,940,419  645,953 
  Apache Corp.  3,288,176  339,241 
  Devon Energy Corp.  4,129,076  303,487 
  Anadarko Petroleum Corp.  4,803,970  299,864 
  Halliburton Co.  8,830,936  265,723 
*  Transocean Ltd.  3,144,267  260,345 
  XTO Energy Inc.  5,398,071  251,172 
  EOG Resources Inc.  2,467,382  240,076 
  Marathon Oil Corp.  6,931,143  216,390 
  National Oilwell Varco Inc.  4,095,677  180,578 
  Hess Corp.  2,882,748  174,406 
*  Southwestern Energy Co.  3,373,790  162,617 
  Chesapeake Energy Corp.  5,969,852  154,500 
  Spectra Energy Corp.  6,334,412  129,919 
*  Weatherford International Ltd.  7,125,592  127,619 
  Baker Hughes Inc.  3,039,131  123,024 
  Noble Energy Inc.  1,700,819  121,132 
  Williams Cos. Inc.  5,717,965  120,535 
  Peabody Energy Corp.  2,621,243  118,506 
  Noble Corp.  2,563,708  104,343 
*  Cameron International Corp.  2,398,265  100,247 
  Murphy Oil Corp.  1,776,888  96,307 
  Valero Energy Corp.  5,521,772  92,490 
  Consol Energy Inc.  1,771,835  88,237 
  Range Resources Corp.  1,542,532  76,895 
*  Ultra Petroleum Corp.  1,484,970  74,041 
*  Petrohawk Energy Corp.  2,950,697  70,787 
*  FMC Technologies Inc.  1,201,353  69,486 
  El Paso Corp.  6,877,129  67,602 
  Diamond Offshore Drilling Inc.  681,731  67,096 
  Smith International Inc.  2,424,316  65,869 
*  Newfield Exploration Co.  1,300,959  62,745 
*  Nabors Industries Ltd.  2,787,143  61,011 
  Pioneer Natural Resources Co.  1,128,386  54,354 
*  Pride International Inc.  1,701,556  54,297 
  BJ Services Co.  2,865,468  53,298 
*  Alpha Natural Resources Inc.  1,176,434  51,034 


Vanguard® Total Stock Market Index Fund
Schedule of Investments
December 31, 2009

      Market 
      Value 
    Shares  ($000) 
  Cabot Oil & Gas Corp.  1,017,357  44,347 
  Cimarex Energy Co.  818,649  43,364 
  Helmerich & Payne Inc.  1,034,891  41,271 
*  Kinder Morgan Management LLC  739,203  40,390 
  EXCO Resources Inc.  1,761,842  37,404 
*  Plains Exploration & Production Co.  1,345,463  37,216 
*  Denbury Resources Inc.  2,449,104  36,247 
*  Whiting Petroleum Corp.  499,354  35,679 
  Arch Coal Inc.  1,595,514  35,500 
  Massey Energy Co.  839,769  35,279 
*  Oceaneering International Inc.  538,333  31,503 
  Sunoco Inc.  1,146,221  29,916 
*  Concho Resources Inc.  630,182  28,295 
*  Dresser-Rand Group Inc.  808,804  25,566 
  Core Laboratories NV  214,264  25,309 
*  Rowan Cos. Inc.  1,117,758  25,306 
  Southern Union Co.  1,095,889  24,877 
*  Encore Acquisition Co.  518,021  24,875 
  Tidewater Inc.  507,941  24,356 
*  Forest Oil Corp.  1,048,767  23,335 
  Patterson-UTI Energy Inc.  1,510,409  23,185 
*  Atlas Energy Inc.  730,189  22,030 
  St Mary Land & Exploration Co.  613,536  21,007 
*  Atwood Oceanics Inc.  568,134  20,368 
*  Oil States International Inc.  488,205  19,182 
*  Unit Corp.  444,041  18,872 
*  Superior Energy Services Inc.  769,903  18,701 
  Tesoro Corp.  1,369,537  18,557 
*  Comstock Resources Inc.  457,045  18,542 
*  Quicksilver Resources Inc.  1,165,724  17,498 
*  Dril-Quip Inc.  307,352  17,359 
*  Arena Resources Inc.  377,626  16,283 
^  World Fuel Services Corp.  554,430  14,853 
*  SEACOR Holdings Inc.  188,285  14,357 
*  Continental Resources Inc.  333,282  14,294 
*  SandRidge Energy Inc.  1,511,130  14,250 
*  Brigham Exploration Co.  973,747  13,194 
  CARBO Ceramics Inc.  192,403  13,116 
*  Patriot Coal Corp.  844,186  13,051 
*  Exterran Holdings Inc.  585,273  12,554 
*  Bill Barrett Corp.  401,900  12,503 
  Frontier Oil Corp.  1,032,281  12,429 
*  Mariner Energy Inc.  1,000,924  11,621 
*  Gran Tierra Energy Inc.  2,021,499  11,583 
*  Helix Energy Solutions Group Inc.  965,150  11,341 
  Overseas Shipholding Group Inc.  250,669  11,017 
  Holly Corp.  420,880  10,787 
*  Key Energy Services Inc.  1,224,629  10,765 
  Lufkin Industries Inc.  146,703  10,739 
*  Bristow Group Inc.  274,968  10,573 
  Berry Petroleum Co. Class A  357,135  10,410 
*  Rosetta Resources Inc.  515,993  10,284 
  Penn Virginia Corp.  447,093  9,519 
*  Tetra Technologies Inc.  828,081  9,175 
*  ION Geophysical Corp.  1,510,756  8,944 
*  CNX Gas Corp.  299,111  8,830 
*  Swift Energy Co.  359,154  8,605 
*,^  ATP Oil & Gas Corp.  444,344  8,123 
*  Willbros Group Inc.  442,929  7,472 
*  Cal Dive International Inc.  980,770  7,415 
*  Cobalt International Energy Inc.  530,539  7,343 
*  Global Industries Ltd.  1,014,126  7,231 
*  McMoRan Exploration Co.  893,252  7,164 
*  Stone Energy Corp.  395,341  7,136 


Vanguard® Total Stock Market Index Fund
Schedule of Investments
December 31, 2009

      Market 
      Value 
    Shares  ($000) 
*  Complete Production Services Inc.  527,255  6,854 
*  Hercules Offshore Inc.  1,418,525  6,781 
*  BPZ Resources Inc.  710,839  6,753 
*  Carrizo Oil & Gas Inc.  247,086  6,545 
*  Contango Oil & Gas Co.  138,375  6,505 
*,^  Goodrich Petroleum Corp.  246,618  6,005 
*  Enbridge Energy Management LLC  112,972  6,001 
*  International Coal Group Inc.  1,527,402  5,896 
*  Hornbeck Offshore Services Inc.  240,946  5,609 
*  James River Coal Co.  288,220  5,341 
*  Gulfmark Offshore Inc.  188,349  5,332 
*  Parker Drilling Co.  938,870  4,647 
*  Clean Energy Fuels Corp.  287,440  4,429 
  General Maritime Corp.  628,496  4,393 
*  Petroquest Energy Inc.  699,972  4,291 
  Energy XXI Bermuda Ltd.  1,854,152  4,283 
*  Tesco Corp.  329,729  4,257 
*  USEC Inc.  1,077,636  4,149 
*  Pioneer Drilling Co.  518,165  4,094 
*  Venoco Inc.  303,329  3,955 
*  Oilsands Quest Inc.  3,280,419  3,772 
*  Rex Energy Corp.  302,894  3,635 
  W&T Offshore Inc.  300,052  3,511 
*  Newpark Resources Inc.  810,607  3,429 
*  Western Refining Inc.  681,502  3,210 
*,^  GMX Resources Inc.  213,629  2,935 
  Gulf Island Fabrication Inc.  135,635  2,852 
*  Matrix Service Co.  256,402  2,731 
*  Syntroleum Corp.  1,002,206  2,666 
*  CVR Energy Inc.  387,871  2,661 
  RPC Inc.  249,492  2,595 
*  Delta Petroleum Corp.  2,437,851  2,535 
*  Seahawk Drilling Inc.  109,047  2,458 
*  Gulfport Energy Corp.  196,120  2,246 
*  Petroleum Development Corp.  121,125  2,206 
  Vaalco Energy Inc.  480,437  2,186 
*,^  Rentech Inc.  1,742,563  2,143 
*  Kodiak Oil & Gas Corp.  943,216  2,094 
*  T-3 Energy Services Inc.  81,918  2,089 
*  Basic Energy Services Inc.  227,391  2,024 
*  Superior Well Services Inc.  135,288  1,929 
*  Harvest Natural Resources Inc.  355,919  1,883 
*  Warren Resources Inc.  764,545  1,873 
*  Boots & Coots Inc.  1,104,050  1,822 
*  Northern Oil And Gas Inc.  149,861  1,774 
*  Clayton Williams Energy Inc.  49,351  1,729 
*  Dawson Geophysical Co.  73,070  1,689 
*  Natural Gas Services Group Inc.  88,753  1,673 
*  Allis-Chalmers Energy Inc.  442,100  1,667 
*  Bolt Technology Corp.  145,926  1,608 
*  PHI Inc.  73,329  1,518 
*  Endeavour International Corp.  1,343,433  1,451 
*  Abraxas Petroleum Corp.  699,109  1,342 
  Toreador Resources Corp.  131,828  1,305 
*,^  GeoGlobal Resources Inc.  606,152  1,261 
  Panhandle Oil and Gas Inc. Class A  48,390  1,253 
*  OYO Geospace Corp.  29,119  1,249 
  Crosstex Energy Inc.  205,008  1,240 
*  Double Eagle Petroleum Co.  269,916  1,166 
*  Gastar Exploration Ltd.  225,822  1,082 
*,^  Uranium Energy Corp.  278,949  1,054 
*  Bronco Drilling Co. Inc.  203,834  1,033 
*  Vantage Drilling Co.  578,613  932 
*  CREDO Petroleum Corp.  99,730  928 


Vanguard® Total Stock Market Index Fund
Schedule of Investments
December 31, 2009

      Market 
      Value 
    Shares  ($000) 
*  Westmoreland Coal Co.  100,888  899 
  Alon USA Energy Inc.  126,318  864 
*  Callon Petroleum Co.  562,840  844 
*  Trico Marine Services Inc.  176,598  802 
*  Cheniere Energy Inc.  330,347  799 
*  FX Energy Inc.  276,830  789 
*  Union Drilling Inc.  122,287  764 
*  RAM Energy Resources Inc.  346,770  711 
  Delek US Holdings Inc.  103,300  703 
*  American Oil & Gas Inc.  164,934  693 
*  Pacific Ethanol Inc.  907,372  653 
*  ENGlobal Corp.  208,115  651 
*,^  Verenium Corp.  115,082  518 
*  Gasco Energy Inc.  943,505  500 
*,^  Sulphco Inc.  705,765  473 
  Houston American Energy Corp.  71,432  440 
*,^  Isramco Inc.  5,663  405 
*  Mitcham Industries Inc.  54,753  404 
*,^  Tri-Valley Corp.  194,425  379 
*  Georesources Inc.  27,545  376 
*,^  NGAS Resources Inc.  180,751  305 
*  Approach Resources Inc.  37,965  293 
*  Barnwell Industries Inc.  62,895  283 
*  Cano Petroleum Inc.  227,791  223 
*  National Coal Corp.  258,584  215 
*,^  BMB Munai Inc.  186,214  214 
*,^  Evergreen Energy Inc.  496,824  170 
*  Meridian Resource Corp.  633,127  165 
*  GeoMet Inc.  94,535  138 
*  Hyperdynamics Corp.  150,940  131 
*  Geokinetics Inc.  13,371  129 
*  HKN Inc.  34,414  126 
*  Uranium Resources Inc.  114,096  88 
*  Cubic Energy Inc.  16,688  25 
*  TGC Industries Inc.  3,940  15 
*  Evolution Petroleum Corp.  2,100  9 
      13,166,993 
Financials (15.3%)     
  JPMorgan Chase & Co.  38,513,625  1,604,863 
  Wells Fargo & Co.  47,568,767  1,283,881 
  Bank of America Corp.  84,729,207  1,276,022 
  Goldman Sachs Group Inc.  4,756,446  803,078 
  Citigroup Inc.  207,601,896  687,162 
  American Express Co.  10,481,840  424,724 
  US Bancorp  18,724,920  421,498 
  Morgan Stanley  11,979,941  354,606 
  Bank of New York Mellon Corp.  11,779,929  329,485 
  MetLife Inc.  8,017,406  283,415 
  Travelers Cos. Inc.  5,558,479  277,146 
*  Berkshire Hathaway Inc. Class B  83,525  274,463 
  PNC Financial Services Group Inc.  4,518,788  238,547 
  Prudential Financial Inc.  4,514,909  224,662 
  Simon Property Group Inc.  2,790,896  222,713 
  Aflac Inc.  4,578,696  211,765 
  State Street Corp.  4,842,789  210,855 
  CME Group Inc.  585,476  196,691 
  Charles Schwab Corp.  9,663,555  181,868 
  Capital One Financial Corp.  4,455,766  170,834 
  BB&T Corp.  6,675,120  169,348 
  Chubb Corp.  3,426,791  168,530 
  Franklin Resources Inc.  1,579,028  166,351 
  ACE Ltd.  3,292,270  165,930 
  Allstate Corp.  4,990,545  149,916 
  T Rowe Price Group Inc.  2,508,359  133,570 


Vanguard® Total Stock Market Index Fund
Schedule of Investments
December 31, 2009

      Market 
      Value 
    Shares  ($000) 
  Loews Corp.  3,396,650  123,468 
*  Progressive Corp.  6,323,751  113,764 
  Marsh & McLennan Cos. Inc.  5,138,051  113,448 
  Northern Trust Corp.  2,130,852  111,657 
  Vornado Realty Trust  1,589,957  111,202 
  Public Storage  1,246,189  101,502 
  SunTrust Banks Inc.  4,893,350  99,286 
  Ameriprise Financial Inc.  2,502,412  97,144 
  Invesco Ltd.  4,077,909  95,790 
  AON Corp.  2,422,015  92,860 
  Annaly Capital Management Inc.  5,340,598  92,659 
  Boston Properties Inc.  1,358,697  91,128 
  Equity Residential  2,685,908  90,730 
  Hartford Financial Services Group Inc.  3,767,230  87,626 
  HCP Inc.  2,850,927  87,067 
*  Berkshire Hathaway Inc. Class A  848  84,122 
  Discover Financial Services  5,266,586  77,471 
  Principal Financial Group Inc.  3,127,658  75,189 
  Lincoln National Corp.  2,962,494  73,707 
  Fifth Third Bancorp  7,409,526  72,243 
  Host Hotels & Resorts Inc.  6,084,934  71,011 
*  IntercontinentalExchange Inc.  610,135  68,518 
  Ventas Inc.  1,535,479  67,162 
  NYSE Euronext  2,550,840  64,536 
  AvalonBay Communities Inc.  783,827  64,360 
  Hudson City Bancorp Inc.  4,627,310  63,533 
  Unum Group  3,252,019  63,479 
  Regions Financial Corp.  11,652,848  61,644 
  XL Capital Ltd. Class A  3,358,589  61,563 
  Plum Creek Timber Co. Inc.  1,597,332  60,315 
  ProLogis  4,346,801  59,508 
  New York Community Bancorp Inc.  3,944,994  57,242 
  People's United Financial Inc.  3,415,880  57,045 
*  Genworth Financial Inc. Class A  4,721,217  53,586 
  Kimco Realty Corp.  3,943,015  53,349 
  Moody's Corp.  1,970,313  52,804 
  BlackRock Inc.  224,857  52,212 
  Health Care REIT Inc.  1,174,868  52,070 
*  SLM Corp.  4,587,372  51,700 
  Everest Re Group Ltd.  597,183  51,167 
^  M&T Bank Corp.  752,578  50,340 
*  TD Ameritrade Holding Corp.  2,586,845  50,133 
  PartnerRe Ltd.  658,739  49,181 
  KeyCorp  8,615,879  47,818 
*  Leucadia National Corp.  1,911,701  45,479 
  Comerica Inc.  1,481,708  43,814 
  Willis Group Holdings Ltd.  1,650,125  43,530 
  Legg Mason Inc.  1,399,951  42,223 
  Federal Realty Investment Trust  598,052  40,500 
  Cincinnati Financial Corp.  1,516,104  39,783 
  SL Green Realty Corp.  754,220  37,892 
  Axis Capital Holdings Ltd.  1,327,504  37,714 
  Nationwide Health Properties Inc.  1,053,905  37,076 
  AMB Property Corp.  1,435,498  36,677 
  Digital Realty Trust Inc.  710,363  35,717 
  Torchmark Corp.  812,640  35,716 
*,^  American International Group Inc.  1,189,264  35,654 
  Liberty Property Trust  1,094,959  35,050 
  WR Berkley Corp.  1,414,603  34,856 
  Assurant Inc.  1,157,861  34,134 
  Reinsurance Group of America Inc. Class A  714,635  34,052 
  Macerich Co.  926,167  33,296 
  Eaton Vance Corp.  1,089,224  33,123 
  Rayonier Inc.  777,922  32,797 


Vanguard® Total Stock Market Index Fund
Schedule of Investments
December 31, 2009

    Market 
    Value 
  Shares  ($000) 
RenaissanceRe Holdings Ltd.  612,170  32,537 
* CB Richard Ellis Group Inc. Class A  2,382,917  32,336 
* MSCI Inc. Class A  983,712  31,282 
* Markel Corp.  91,599  31,144 
HCC Insurance Holdings Inc.  1,101,494  30,809 
Regency Centers Corp.  866,318  30,373 
* Arch Capital Group Ltd.  418,961  29,977 
First American Corp.  888,104  29,405 
* First Horizon National Corp.  2,180,427  29,218 
Fidelity National Financial Inc. Class A  2,148,536  28,919 
Transatlantic Holdings Inc.  554,006  28,869 
Hospitality Properties Trust  1,198,487  28,416 
* NASDAQ OMX Group Inc.  1,392,399  27,597 
* Affiliated Managers Group Inc.  409,106  27,553 
Alexandria Real Estate Equities Inc.  426,297  27,407 
Senior Housing Properties Trust  1,247,019  27,272 
Assured Guaranty Ltd.  1,241,346  27,012 
Commerce Bancshares Inc.  693,033  26,834 
Duke Realty Corp.  2,196,767  26,735 
Camden Property Trust  629,732  26,682 
Mack-Cali Realty Corp.  769,085  26,587 
^ Realty Income Corp.  1,022,860  26,502 
Cullen/Frost Bankers Inc.  527,054  26,353 
* St Joe Co.  907,863  26,228 
White Mountains Insurance Group Ltd.  78,249  26,030 
Waddell & Reed Financial Inc.  843,030  25,746 
Marshall & Ilsley Corp.  4,711,508  25,678 
First Niagara Financial Group Inc.  1,797,368  25,001 
Federated Investors Inc. Class B  908,952  24,996 
* AmeriCredit Corp.  1,309,083  24,925 
Jones Lang LaSalle Inc.  410,726  24,808 
Validus Holdings Ltd.  917,597  24,720 
UDR Inc.  1,478,237  24,302 
Huntington Bancshares Inc.  6,650,943  24,276 
Chimera Investment Corp.  6,250,686  24,253 
* Jefferies Group Inc.  1,017,617  24,148 
Janus Capital Group Inc.  1,788,820  24,060 
Old Republic International Corp.  2,360,607  23,700 
Highwoods Properties Inc.  696,476  23,227 
Essex Property Trust Inc.  277,291  23,195 
Raymond James Financial Inc.  969,427  23,043 
SEI Investments Co.  1,311,796  22,983 
Arthur J Gallagher & Co.  995,367  22,406 
Hanover Insurance Group Inc.  499,820  22,207 
Bank of Hawaii Corp.  469,965  22,117 
Weingarten Realty Investors  1,116,652  22,099 
Brown & Brown Inc.  1,182,264  21,245 
Corporate Office Properties Trust SBI  570,715  20,905 
Washington Federal Inc.  1,072,749  20,747 
Aspen Insurance Holdings Ltd.  814,853  20,738 
MFA Financial Inc.  2,681,482  19,709 
City National Corp.  430,282  19,621 
StanCorp Financial Group Inc.  482,741  19,319 
* E*Trade Financial Corp.  10,983,611  19,221 
Allied World Assurance Co. Holdings Ltd.  414,537  19,098 
Valley National Bancorp  1,335,241  18,867 
Taubman Centers Inc.  522,987  18,780 
Platinum Underwriters Holdings Ltd.  489,747  18,752 
American Financial Group Inc.  743,230  18,544 
Apartment Investment & Management Co.  1,152,633  18,350 
Greenhill & Co. Inc.  222,573  17,859 
Endurance Specialty Holdings Ltd.  477,707  17,785 
BancorpSouth Inc.  738,898  17,335 
BRE Properties Inc.  520,208  17,208 


Vanguard® Total Stock Market Index Fund
Schedule of Investments
December 31, 2009

      Market 
      Value 
    Shares  ($000) 
  National Retail Properties Inc.  793,075  16,829 
*  SVB Financial Group  399,491  16,655 
  Prosperity Bancshares Inc.  408,796  16,544 
  Apollo Investment Corp.  1,725,426  16,443 
*  ProAssurance Corp.  305,987  16,435 
  FirstMerit Corp.  812,672  16,367 
  Omega Healthcare Investors Inc.  819,899  15,947 
  Westamerica Bancorporation  286,586  15,868 
*  Alleghany Corp.  57,449  15,856 
  Washington Real Estate Investment Trust  573,965  15,813 
*  Stifel Financial Corp.  266,505  15,788 
  Home Properties Inc.  325,496  15,529 
  TCF Financial Corp.  1,139,166  15,515 
  Tanger Factory Outlet Centers  392,153  15,290 
  BioMed Realty Trust Inc.  962,945  15,195 
^  Zions Bancorporation  1,183,370  15,183 
  Fulton Financial Corp.  1,734,945  15,129 
  Entertainment Properties Trust  412,329  14,543 
  Brandywine Realty Trust  1,266,857  14,442 
  American Campus Communities Inc.  511,884  14,384 
  Equity Lifestyle Properties Inc.  282,829  14,274 
  Popular Inc.  6,289,797  14,215 
  HRPT Properties Trust  2,193,726  14,193 
  Montpelier Re Holdings Ltd.  805,289  13,948 
*  Forest City Enterprises Inc. Class A  1,181,179  13,914 
  Protective Life Corp.  839,616  13,896 
  Douglas Emmett Inc.  958,851  13,664 
*  Knight Capital Group Inc. Class A  874,962  13,474 
  Mid-America Apartment Communities Inc.  278,455  13,444 
  LaSalle Hotel Properties  625,129  13,271 
  Ares Capital Corp.  1,061,589  13,217 
  Trustmark Corp.  585,823  13,204 
*  Pinnacle Financial Partners Inc.  925,154  13,156 
  Associated Banc-Corp  1,191,347  13,117 
  Kilroy Realty Corp.  423,781  12,997 
*,^  Federal National Mortgage Assn.  10,985,360  12,963 
*  Signature Bank  398,531  12,713 
  BOK Financial Corp.  265,977  12,639 
  Potlatch Corp.  392,271  12,506 
  Healthcare Realty Trust Inc.  582,510  12,501 
  Developers Diversified Realty Corp.  1,348,826  12,490 
  Hancock Holding Co.  284,596  12,462 
  CBL & Associates Properties Inc.  1,286,620  12,442 
  Erie Indemnity Co. Class A  302,999  11,823 
  UMB Financial Corp.  299,071  11,768 
*  Conseco Inc.  2,305,238  11,526 
  East West Bancorp Inc.  723,323  11,428 
  NewAlliance Bancshares Inc.  949,532  11,404 
  TFS Financial Corp.  909,165  11,037 
  Umpqua Holdings Corp.  822,805  11,034 
  Zenith National Insurance Corp.  368,761  10,974 
  Northwest Bancshares Inc.  967,978  10,958 
*,^  Federal Home Loan Mortgage Corp.  7,428,957  10,921 
  Unitrin Inc.  490,792  10,822 
  Mercury General Corp.  269,408  10,577 
  Max Capital Group Ltd.  473,514  10,559 
  Redwood Trust Inc.  725,557  10,492 
  DuPont Fabros Technology Inc.  582,796  10,484 
  Delphi Financial Group Inc.  468,514  10,481 
  Old National Bancorp  835,753  10,388 
  Iberiabank Corp.  192,243  10,345 
  Franklin Street Properties Corp.  697,575  10,192 
  Cash America International Inc.  291,253  10,182 
  CapitalSource Inc.  2,555,802  10,147 


Vanguard® Total Stock Market Index Fund
Schedule of Investments
December 31, 2009

      Market 
      Value 
    Shares  ($000) 
  DCT Industrial Trust Inc.  2,013,216  10,106 
  Astoria Financial Corp.  813,012  10,106 
  Hatteras Financial Corp.  356,488  9,967 
  EastGroup Properties Inc.  255,705  9,788 
*  Piper Jaffray Cos.  192,985  9,767 
  Tower Group Inc.  416,362  9,747 
  RLI Corp.  181,505  9,665 
^  United Bankshares Inc.  481,516  9,616 
  International Bancshares Corp.  504,510  9,550 
  Sovran Self Storage Inc.  266,836  9,534 
  American National Insurance Co.  79,323  9,474 
  PS Business Parks Inc.  189,061  9,462 
  Extra Space Storage Inc.  812,751  9,387 
  Post Properties Inc.  471,954  9,250 
  DiamondRock Hospitality Co.  1,059,628  8,975 
  MB Financial Inc.  454,146  8,956 
  First Financial Bankshares Inc.  164,018  8,895 
*  Argo Group International Holdings Ltd.  302,994  8,829 
  Synovus Financial Corp.  4,279,827  8,774 
  Capstead Mortgage Corp.  639,894  8,735 
*  PHH Corp.  538,438  8,674 
  Selective Insurance Group  523,180  8,606 
  National Health Investors Inc.  232,596  8,604 
*  Investment Technology Group Inc.  436,559  8,600 
  Wilmington Trust Corp.  685,851  8,463 
*  KBW Inc.  308,693  8,446 
  Glacier Bancorp Inc.  613,629  8,419 
  Whitney Holding Corp.  915,078  8,336 
  Medical Properties Trust Inc.  804,560  8,046 
*  MGIC Investment Corp.  1,377,595  7,962 
  Webster Financial Corp.  640,609  7,604 
  FNB Corp.  1,117,097  7,585 
  Nara Bancorp Inc.  661,983  7,507 
  Sunstone Hotel Investors Inc.  839,856  7,458 
  Financial Federal Corp.  268,600  7,386 
*  Texas Capital Bancshares Inc.  518,879  7,244 
*  Allied Capital Corp.  2,003,322  7,232 
  Employers Holdings Inc.  466,088  7,150 
*  Interactive Brokers Group Inc.  401,118  7,108 
  NBT Bancorp Inc.  339,905  6,924 
^  American Capital Ltd.  2,803,629  6,841 
*  MF Global Ltd.  983,891  6,838 
  Anworth Mortgage Asset Corp.  975,722  6,830 
  PacWest Bancorp  338,598  6,823 
*  Navigators Group Inc.  144,463  6,806 
  optionsXpress Holdings Inc.  439,622  6,792 
^  Prospect Capital Corp.  574,162  6,781 
  First Citizens BancShares Inc. Class A  41,306  6,775 
  American Capital Agency Corp.  255,249  6,774 
*  Ocwen Financial Corp.  706,654  6,763 
  Investors Real Estate Trust  742,277  6,680 
  Capitol Federal Financial  211,526  6,655 
*  United Community Banks Inc.  1,916,272  6,496 
  Cousins Properties Inc.  848,152  6,471 
^  Equity One Inc.  399,654  6,462 
*  MBIA Inc.  1,609,800  6,407 
*,^  Portfolio Recovery Associates Inc.  141,327  6,343 
  Community Bank System Inc.  327,600  6,326 
*  Ashford Hospitality Trust Inc.  1,351,341  6,270 
  LTC Properties Inc.  233,306  6,241 
  Park National Corp.  105,602  6,218 
  Wintrust Financial Corp.  199,090  6,130 
*  Forestar Group Inc.  277,809  6,106 
  Inland Real Estate Corp.  745,776  6,078 


Vanguard® Total Stock Market Index Fund
Schedule of Investments
December 31, 2009

      Market 
      Value 
    Shares  ($000) 
*  First Cash Financial Services Inc.  272,827  6,054 
*  FBR Capital Markets Corp.  975,788  6,030 
  CVB Financial Corp.  688,659  5,950 
*  Dollar Financial Corp.  250,527  5,927 
  First Financial Bancorp  399,761  5,821 
  Colonial Properties Trust  492,505  5,777 
  Getty Realty Corp.  245,350  5,773 
  Radian Group Inc.  787,295  5,755 
*  Ezcorp Inc. Class A  330,777  5,693 
*  Greenlight Capital Re Ltd. Class A  236,723  5,580 
  Infinity Property & Casualty Corp.  135,029  5,488 
  Brookline Bancorp Inc.  546,871  5,419 
  Provident Financial Services Inc.  505,579  5,384 
*,^  Ambac Financial Group Inc.  6,485,489  5,383 
  National Penn Bancshares Inc.  928,845  5,378 
  Trustco Bank Corp.  842,782  5,310 
*  Pico Holdings Inc.  160,724  5,260 
  Acadia Realty Trust  303,519  5,120 
*  Alexander's Inc.  16,707  5,086 
  City Holding Co.  155,737  5,035 
*,^  World Acceptance Corp.  139,448  4,996 
  First Midwest Bancorp Inc.  454,435  4,949 
  Horace Mann Educators Corp.  387,045  4,838 
*  Hilltop Holdings Inc.  415,238  4,833 
*  Enstar Group Ltd.  65,785  4,804 
  Hercules Technology Growth Capital Inc.  459,815  4,777 
*  Investors Bancorp Inc.  433,576  4,743 
  Safety Insurance Group Inc.  130,611  4,732 
  Susquehanna Bancshares Inc.  797,677  4,698 
  S&T Bancorp Inc.  268,822  4,573 
  U-Store-It Trust  617,095  4,517 
  Chemical Financial Corp.  187,846  4,429 
  Harleysville National Corp.  677,071  4,360 
  Sterling Bancshares Inc.  842,986  4,325 
  Harleysville Group Inc.  135,950  4,322 
  Lexington Realty Trust  708,326  4,307 
  Nelnet Inc. Class A  249,216  4,294 
*,^  iStar Financial Inc.  1,646,574  4,215 
*  AMERISAFE Inc.  233,271  4,192 
  Cathay General Bancorp  552,240  4,169 
  BlackRock Kelso Capital Corp.  486,610  4,146 
*  Western Alliance Bancorp  1,093,063  4,132 
*  Riskmetrics Group Inc.  250,889  3,992 
  GAMCO Investors Inc.  81,917  3,956 
  Home Bancshares Inc.  164,199  3,952 
  Saul Centers Inc.  120,308  3,941 
  PrivateBancorp Inc. Class A  434,500  3,897 
  American Physicians Capital Inc.  127,953  3,880 
  MarketAxess Holdings Inc.  278,459  3,871 
  Dime Community Bancshares  323,075  3,786 
  Evercore Partners Inc. Class A  123,023  3,740 
  Duff & Phelps Corp. Class A  204,155  3,728 
  Bank Mutual Corp.  528,713  3,659 
  Meadowbrook Insurance Group Inc.  494,015  3,656 
  First Potomac Realty Trust  280,102  3,521 
  American Equity Investment Life Holding Co.  472,953  3,519 
*  Beneficial Mutual Bancorp Inc.  353,942  3,483 
  Parkway Properties Inc.  167,028  3,478 
  Simmons First National Corp. Class A  125,023  3,476 
  Provident New York Bancorp  409,944  3,460 
  Boston Private Financial Holdings Inc.  590,124  3,405 
  Bank of the Ozarks Inc.  115,427  3,379 
*  eHealth Inc.  205,405  3,375 
  Universal Health Realty Income Trust  105,175  3,369 


Vanguard® Total Stock Market Index Fund
Schedule of Investments
December 31, 2009

      Market 
      Value 
    Shares  ($000) 
  First Commonwealth Financial Corp.  712,389  3,313 
  Community Trust Bancorp Inc.  134,470  3,288 
  Sun Communities Inc.  166,442  3,287 
*  Altisource Portfolio Solutions SA  156,374  3,282 
*,^  Citizens Inc.  502,497  3,281 
  National Western Life Insurance Co. Class A  18,650  3,238 
  United Fire & Casualty Co.  175,260  3,195 
  Suffolk Bancorp  106,532  3,164 
*  Tejon Ranch Co.  108,262  3,163 
  Columbia Banking System Inc.  194,566  3,148 
*  CNA Surety Corp.  210,128  3,129 
  Independent Bank Corp.  148,805  3,109 
^  Life Partners Holdings Inc.  146,237  3,099 
^  Pennsylvania Real Estate Investment Trust  364,910  3,087 
*  Safeguard Scientifics Inc.  293,803  3,029 
*  Credit Acceptance Corp.  71,482  3,009 
  Cedar Shopping Centers Inc.  435,558  2,962 
*  GLG Partners Inc.  913,912  2,943 
  Cohen & Steers Inc.  128,719  2,940 
  Flagstone Reinsurance Holdings Ltd.  268,054  2,933 
  First BanCorp  1,274,840  2,932 
*  SeaBright Insurance Holdings Inc.  253,819  2,916 
*  Tree.com Inc.  318,615  2,915 
  Arrow Financial Corp.  115,622  2,891 
  Compass Diversified Holdings  225,482  2,877 
  SWS Group Inc.  237,752  2,877 
  BGC Partners Inc. Class A  620,073  2,865 
*  TradeStation Group Inc.  358,280  2,827 
  Phoenix Cos. Inc.  1,011,052  2,811 
  SY Bancorp Inc.  128,171  2,736 
  State Auto Financial Corp.  146,334  2,707 
  Oritani Financial Corp.  197,046  2,705 
  1st Source Corp.  168,036  2,704 
*  FPIC Insurance Group Inc.  69,192  2,672 
  Oriental Financial Group Inc.  247,177  2,670 
  SCBT Financial Corp.  96,074  2,660 
  Maiden Holdings Ltd.  363,332  2,660 
  Great Southern Bancorp Inc.  123,554  2,639 
  Walter Investment Management Corp.  182,631  2,617 
*  National Financial Partners Corp.  322,399  2,608 
  OneBeacon Insurance Group Ltd. Class A  187,692  2,586 
  Consolidated-Tomoka Land Co.  73,896  2,582 
  First Financial Corp.  83,532  2,549 
  Camden National Corp.  77,712  2,541 
  Amtrust Financial Services Inc.  214,579  2,536 
  TICC Capital Corp.  418,393  2,531 
  Fifth Street Finance Corp.  233,807  2,511 
  Trico Bancshares  148,320  2,470 
  Cardinal Financial Corp.  280,747  2,454 
  Kearny Financial Corp.  242,809  2,448 
  WesBanco Inc.  197,551  2,438 
  GFI Group Inc.  532,260  2,432 
  MVC Capital Inc.  203,681  2,403 
  FBL Financial Group Inc. Class A  128,596  2,382 
  US Global Investors Inc. Class A  190,733  2,348 
  Mission West Properties Inc.  325,464  2,340 
  ESSA Bancorp Inc.  199,282  2,332 
*  Broadpoint Gleacher Securities Inc.  518,976  2,315 
^  TowneBank  197,607  2,308 
  Agree Realty Corp.  98,959  2,305 
  CapLease Inc.  523,635  2,294 
  Renasant Corp.  168,143  2,287 
  Westfield Financial Inc.  276,938  2,285 
  Calamos Asset Management Inc. Class A  189,869  2,189 


Vanguard® Total Stock Market Index Fund
Schedule of Investments
December 31, 2009

      Market 
      Value 
    Shares  ($000) 
  NorthStar Realty Finance Corp.  637,971  2,188 
  Republic Bancorp Inc. Class A  106,201  2,188 
  Flushing Financial Corp.  193,781  2,182 
*  LaBranche & Co. Inc.  763,216  2,168 
*  United America Indemnity Ltd. Class A  272,808  2,161 
*  Penson Worldwide Inc.  237,760  2,154 
  Northfield Bancorp Inc.  156,904  2,121 
  First Mercury Financial Corp.  153,481  2,104 
  Urstadt Biddle Properties Inc. Class A  136,940  2,091 
*,^  Maguire Properties Inc.  1,373,661  2,074 
*  MCG Capital Corp.  476,948  2,060 
  StellarOne Corp.  206,723  2,059 
  Donegal Group Inc. Class A  131,987  2,051 
*  First Marblehead Corp.  960,174  2,045 
  Southside Bancshares Inc.  102,440  2,010 
  First Industrial Realty Trust Inc.  383,421  2,005 
  Baldwin & Lyons Inc.  81,094  1,996 
  National Bankshares Inc.  70,277  1,988 
  Oppenheimer Holdings Inc. Class A  59,648  1,982 
  Bancfirst Corp.  52,620  1,949 
  Medallion Financial Corp.  237,442  1,940 
  Tompkins Financial Corp.  47,715  1,932 
  Danvers Bancorp Inc.  146,870  1,908 
  Washington Trust Bancorp Inc.  122,342  1,906 
*  Metro Bancorp Inc.  150,032  1,886 
  Resource Capital Corp.  379,171  1,866 
  First Bancorp  131,963  1,844 
  OceanFirst Financial Corp.  162,502  1,836 
  Rewards Network Inc.  145,222  1,836 
  Diamond Hill Investment Group Inc.  28,105  1,805 
  Student Loan Corp.  37,627  1,752 
  Ramco-Gershenson Properties Trust  182,924  1,745 
  Berkshire Hills Bancorp Inc.  83,779  1,733 
  Associated Estates Realty Corp.  153,690  1,732 
  Advance America Cash Advance Centers Inc.  310,980  1,729 
*  Encore Capital Group Inc.  99,361  1,729 
  BankFinancial Corp.  174,024  1,723 
  Presidential Life Corp.  186,944  1,711 
  Univest Corp. of Pennsylvania  96,548  1,692 
*  Bancorp Inc.  244,900  1,680 
  PMI Group Inc.  661,155  1,666 
*,^  Taylor Capital Group Inc.  146,239  1,666 
  Capital Southwest Corp.  21,088  1,662 
  PennantPark Investment Corp.  185,676  1,656 
^  Capital City Bank Group Inc.  118,735  1,643 
*  Harris & Harris Group Inc.  357,691  1,635 
  Abington Bancorp Inc.  235,745  1,624 
  Kite Realty Group Trust  397,526  1,618 
  Cypress Sharpridge Investments Inc.  118,161  1,596 
^  German American Bancorp Inc.  97,783  1,589 
  Monmouth Real Estate Investment Corp. Class A  212,825  1,583 
  Lakeland Financial Corp.  91,608  1,580 
  First Financial Holdings Inc.  121,480  1,578 
  WSFS Financial Corp.  61,278  1,571 
  Stewart Information Services Corp.  138,648  1,564 
  Education Realty Trust Inc.  322,662  1,562 
  Clifton Savings Bancorp Inc.  161,213  1,511 
  Sterling Bancorp  209,443  1,495 
  First of Long Island Corp.  58,903  1,487 
  Union Bankshares Corp.  119,274  1,478 
  Ames National Corp.  69,843  1,474 
  Government Properties Income Trust  64,129  1,474 
  First Merchants Corp.  246,420  1,464 
  EMC Insurance Group Inc.  66,523  1,431 


Vanguard® Total Stock Market Index Fund
Schedule of Investments
December 31, 2009

      Market 
      Value 
    Shares  ($000) 
*  PMA Capital Corp. Class A  226,266  1,425 
*  Citizens Republic Bancorp Inc.  2,039,043  1,407 
^  W Holding Co. Inc.  61,285  1,403 
  Sandy Spring Bancorp Inc.  156,041  1,387 
  American Physicians Service Group Inc.  59,894  1,382 
  Westwood Holdings Group Inc.  37,928  1,378 
  NYMAGIC Inc.  82,308  1,365 
  Lakeland Bancorp Inc.  213,457  1,364 
  NGP Capital Resources Co.  165,938  1,349 
  Heartland Financial USA Inc.  92,782  1,331 
*  Guaranty Bancorp  1,004,048  1,325 
*  FelCor Lodging Trust Inc.  367,909  1,324 
*  Eagle Bancorp Inc.  125,914  1,318 
*  Virginia Commerce Bancorp  350,953  1,309 
  National Interstate Corp.  77,126  1,308 
  Federal Agricultural Mortgage Corp.  186,556  1,308 
  Gladstone Capital Corp.  168,591  1,298 
  Wilshire Bancorp Inc.  154,885  1,269 
  Glimcher Realty Trust  469,141  1,267 
  Seacoast Banking Corp. of Florida  769,580  1,254 
*  International Assets Holding Corp.  86,273  1,254 
  Merchants Bancshares Inc.  55,228  1,250 
  First Bancorp Inc.  80,666  1,244 
  Sanders Morris Harris Group Inc.  224,985  1,237 
  Bancorp Rhode Island Inc.  47,573  1,222 
  First Community Bancshares Inc.  100,278  1,208 
  West Bancorporation Inc.  240,498  1,186 
  Cogdell Spencer Inc.  207,932  1,177 
  Kohlberg Capital Corp.  257,191  1,173 
  One Liberty Properties Inc.  132,360  1,162 
^  Old Second Bancorp Inc.  166,567  1,148 
^  Center Bancorp Inc.  127,818  1,140 
  Peoples Bancorp Inc.  117,356  1,136 
*  Sun Bancorp Inc.  300,283  1,126 
*,^  RAIT Financial Trust  852,557  1,117 
^  BankAtlantic Bancorp Inc. Class A  856,534  1,113 
  Bryn Mawr Bank Corp.  72,548  1,095 
  American National Bankshares Inc.  49,584  1,086 
  United Financial Bancorp Inc.  80,445  1,055 
*  Virtus Investment Partners Inc.  65,196  1,037 
  Gladstone Commercial Corp.  77,116  1,034 
  First Financial Northwest Inc.  157,223  1,030 
  Penns Woods Bancorp Inc.  31,546  1,023 
  ViewPoint Financial Group  70,678  1,018 
  South Financial Group Inc.  1,560,823  1,006 
  ESB Financial Corp.  75,238  995 
*  Primus Guaranty Ltd.  318,297  971 
  Hersha Hospitality Trust  309,135  971 
  MainSource Financial Group Inc.  201,401  963 
  LSB Corp.  96,899  954 
*  Cardtronics Inc.  85,023  941 
  CompuCredit Holdings Corp.  280,713  935 
  Thomas Properties Group Inc.  313,390  928 
  First South Bancorp Inc.  89,864  926 
*  Republic First Bancorp Inc.  212,839  909 
  Centerstate Banks Inc.  90,038  908 
  Center Financial Corp.  196,768  905 
*,^  Hanmi Financial Corp.  752,195  903 
*  Thomas Weisel Partners Group Inc.  232,748  880 
  Ameris Bancorp  122,707  879 
^  Pacific Capital Bancorp NA  904,022  868 
  Shore Bancshares Inc.  59,998  868 
*  Asset Acceptance Capital Corp.  127,683  866 
^  Asta Funding Inc.  121,304  860 


Vanguard® Total Stock Market Index Fund
Schedule of Investments
December 31, 2009

      Market 
      Value 
    Shares  ($000) 
  Care Investment Trust Inc.  109,745  854 
  Peapack Gladstone Financial Corp.  67,218  852 
  Southwest Bancorp Inc.  120,524  836 
  Heritage Financial Corp.  60,034  827 
  First Busey Corp.  204,502  796 
*  Meridian Interstate Bancorp Inc.  91,221  793 
*  Crawford & Co. Class B  200,957  792 
^  United Security Bancshares  45,692  783 
*,^  Sterling Financial Corp.  1,238,606  768 
  Financial Institutions Inc.  64,801  763 
  BRT Realty Trust  147,857  754 
  Invesco Mortgage Capital Inc.  32,900  749 
*  Newcastle Investment Corp.  357,104  746 
  Eastern Insurance Holdings Inc.  86,093  742 
  TF Financial Corp.  38,622  733 
  Gladstone Investment Corp.  160,567  732 
  Smithtown Bancorp Inc.  122,228  727 
  Norwood Financial Corp.  25,075  717 
*  First Acceptance Corp.  367,252  716 
*  NewStar Financial Inc.  181,654  712 
  K-Fed Bancorp  80,411  707 
  Rome Bancorp Inc.  87,175  694 
*  Reis Inc.  111,582  686 
  Eastern Virginia Bankshares Inc.  95,870  681 
  UMH Properties Inc.  79,752  676 
  Pacific Continental Corp.  59,102  676 
  First United Corp.  111,259  668 
  Winthrop Realty Trust  60,830  661 
  PMC Commercial Trust  87,483  656 
*  American Safety Insurance Holdings Ltd.  44,940  649 
*  Flagstar Bancorp Inc.  1,076,387  646 
*  Pacific Mercantile Bancorp  212,191  645 
*  Stratus Properties Inc.  56,206  618 
*  Cowen Group Inc. Class A  104,198  617 
  United Western Bancorp Inc.  219,919  607 
*  Marlin Business Services Corp.  75,931  602 
  Meta Financial Group Inc.  28,501  596 
*  First Keystone Financial Inc.  50,444  592 
  Kansas City Life Insurance Co.  19,744  587 
  Alliance Bancorp Inc. of Pennsylvania  69,673  585 
  Century Bancorp Inc. Class A  26,409  582 
  Firstbank Corp.  68,622  581 
*,^  Arbor Realty Trust Inc.  291,980  581 
^  BancTrust Financial Group Inc.  201,005  577 
*  Arlington Asset Investment Corp. Class A  37,370  569 
  State Bancorp Inc.  79,925  568 
  Urstadt Biddle Properties Inc.  37,652  565 
*  Ladenburg Thalmann Financial Services Inc.  877,990  562 
*  Gramercy Capital Corp.  215,446  558 
  Bank of Marin Bancorp  16,895  550 
  Bridge Bancorp Inc.  22,878  550 
*  Grubb & Ellis Co.  425,301  544 
  Enterprise Financial Services Corp.  70,392  543 
*  Intervest Bancshares Corp. Class A  165,107  542 
*,^  Macatawa Bank Corp.  232,734  505 
  Washington Banking Co.  41,478  495 
  CoBiz Financial Inc.  102,539  487 
*  Superior Bancorp  146,938  483 
*  Avatar Holdings Inc.  28,240  480 
*  Cape Bancorp Inc.  71,214  479 
  Citizens & Northern Corp.  50,160  479 
  Mercer Insurance Group Inc.  26,266  477 
*  Strategic Hotels & Resorts Inc.  246,605  459 
*  AmeriServ Financial Inc.  270,601  452 


Vanguard® Total Stock Market Index Fund
Schedule of Investments
December 31, 2009

      Market 
      Value 
    Shares  ($000) 
  Alliance Financial Corp.  16,523  449 
  Horizon Bancorp  26,892  436 
  Resource America Inc. Class A  105,971  428 
^  Cascade Bancorp  615,629  425 
  Roma Financial Corp.  33,899  419 
  Cheviot Financial Corp.  55,789  412 
  First Defiance Financial Corp.  36,223  409 
^  Ohio Valley Banc Corp.  18,290  403 
  Sierra Bancorp  52,732  402 
  Heritage Commerce Corp.  98,860  397 
  JMP Group Inc.  40,775  396 
  Farmers Capital Bank Corp.  38,599  394 
  Citizens South Banking Corp.  84,382  387 
  Commercial National Financial Corp.  21,501  385 
  First Place Financial Corp.  135,084  374 
  Yadkin Valley Financial Corp.  102,061  374 
  Comm Bancorp Inc.  17,023  372 
  Indiana Community Bancorp  47,880  369 
  Middleburg Financial Corp.  30,001  368 
*  Maui Land & Pineapple Co. Inc.  64,899  360 
  CFS Bancorp Inc.  110,858  358 
  Universal Insurance Holdings Inc.  60,860  357 
*  Waterstone Financial Inc.  168,185  345 
  Investors Title Co.  11,024  343 
  Wainwright Bank & Trust Co.  46,834  342 
^  Banner Corp.  125,836  337 
*  NewBridge Bancorp  150,777  335 
  Pulaski Financial Corp.  48,606  326 
  Main Street Capital Corp.  20,039  323 
  Mercantile Bank Corp.  106,988  321 
*,^  Central Pacific Financial Corp.  243,134  318 
  West Coast Bancorp  151,355  318 
  LNB Bancorp Inc.  74,555  314 
  Bar Harbor Bankshares  11,375  312 
  Epoch Holding Corp.  29,208  305 
  Pamrapo Bancorp Inc.  38,416  302 
*,^  Amcore Financial Inc.  233,264  289 
  Capital Bank Corp.  75,053  289 
*  United Community Financial Corp.  198,347  288 
  Dynex Capital Inc.  32,788  286 
  HopFed Bancorp Inc.  29,863  284 
*,^  Frontier Financial Corp.  80,179  281 
^  City Bank  159,099  277 
  Codorus Valley Bancorp Inc.  53,267  273 
  ECB Bancorp Inc.  24,295  272 
^  Capitol Bancorp Ltd.  138,217  271 
  Hingham Institution for Savings  8,800  271 
^  Green Bankshares Inc.  76,085  270 
  Hawthorn Bancshares Inc.  27,856  266 
  Parkvale Financial Corp.  37,310  259 
^  Federal Agricultural Mortgage Corp. Class A  38,986  257 
  MutualFirst Financial Inc.  42,957  248 
  Independence Holding Co.  42,503  247 
*,^  Cohen & Co. Inc.  48,905  240 
*,^  Bank of Florida Corp.  287,170  235 
  Jefferson Bancshares Inc.  50,734  228 
  Preferred Bank  119,372  215 
  Porter Bancorp Inc.  13,753  207 
*  HMN Financial Inc.  49,017  206 
  Peoples Financial Corp.  10,088  205 
  Provident Financial Holdings Inc.  73,885  204 
^  Independent Bank Corp.  275,184  198 
*  Unity Bancorp Inc.  48,611  195 
  Premierwest Bancorp  135,422  192 


Vanguard® Total Stock Market Index Fund
Schedule of Investments
December 31, 2009

      Market 
      Value 
    Shares  ($000) 
  Kayne Anderson Energy Development Co.  13,003  189 
  Ameriana Bancorp  68,107  181 
  Southern Community Financial Corp.  76,881  178 
*  American Independence Corp.  38,913  177 
  CNB Financial Corp.  10,979  176 
*  Consumer Portfolio Services Inc.  146,496  167 
*,^  United Security Bancshares  37,908  166 
  VIST Financial Corp.  31,839  166 
  C&F Financial Corp.  8,595  163 
*  Vestin Realty Mortgage II Inc.  74,163  162 
  Cadence Financial Corp.  91,911  161 
  Rockville Financial Inc.  15,308  161 
^  Hampton Roads Bankshares Inc.  91,000  157 
  MBT Financial Corp.  103,204  155 
  Camco Financial Corp.  81,410  155 
  First Pactrust Bancorp Inc.  29,358  154 
  Integra Bank Corp.  207,677  154 
  North Valley Bancorp  73,241  153 
  Colony Bankcorp Inc.  31,934  148 
  Legacy Bancorp Inc.  14,990  148 
*  Home Bancorp Inc.  12,105  148 
  Wayne Savings Bancshares Inc.  23,970  139 
*  Hallmark Financial Services  16,787  134 
  WSB Holdings Inc.  54,300  132 
  Citizens Holding Co.  5,879  132 
*  Transcontinental Realty Investors Inc.  10,500  125 
*  BCSB Bancorp Inc.  14,710  120 
*,^  Midwest Banc Holdings Inc.  327,380  118 
*,^  Capital Trust Inc. Class A  92,499  117 
*  Crawford & Co. Class A  34,961  117 
*  First State Bancorporation  288,977  115 
*,^  Anchor Bancorp Wisconsin Inc.  172,170  108 
  First M&F Corp.  48,652  108 
  First Security Group Inc.  44,571  106 
*  Encore Bancshares Inc.  12,801  102 
  Midsouth Bancorp Inc.  7,232  101 
^  FNB United Corp.  71,605  89 
*  HFF Inc. Class A  14,108  88 
*  Royal Bancshares of Pennsylvania Inc.  64,132  83 
  Cascade Financial Corp.  37,178  83 
  Old Point Financial Corp.  4,984  77 
  First Federal Bancshares of Arkansas Inc.  31,337  72 
*  TierOne Corp.  102,307  72 
*,^  TIB Financial Corp.  103,293  67 
*  Bank of Granite Corp.  131,401  67 
  Atlantic Coast Federal Corp.  35,784  54 
  QC Holdings Inc.  10,157  49 
*  Northern States Financial Corp.  11,261  45 
  Community Bankers Trust Corp.  11,500  37 
*  Fox Chase Bancorp Inc.  3,465  33 
*  AMV Liquidating Trust  289,511  32 
  Community Capital Corp.  10,365  30 
  California First National Bancorp  1,936  25 
*  PAB Bankshares Inc.  10,495  23 
*  Firstcity Financial Corp.  2,502  19 
*  Nicholas Financial Inc.  2,550  18 
*  Valley National Bancorp Warrants Exp. 6/30/15  6,511  15 
  Summit Financial Group Inc.  2,751  11 
  New Hampshire Thrift Bancshares Inc.  600  6 
  United Bancshares Inc.  500  5 
*  SI Financial Group Inc.  522  3 
  Teton Advisors Inc. Class B  967  2 
*  GAINSCO Inc.  220  2 
*  Central Jersey Bancorp  600  2 


Vanguard® Total Stock Market Index Fund
Schedule of Investments
December 31, 2009

    Market 
    Value 
  Shares  ($000) 
National Security Group Inc.  100  1 
    18,286,112 
Health Care (12.6%)     
Johnson & Johnson  26,989,002  1,738,362 
Pfizer Inc.  78,976,267  1,436,578 
Merck & Co. Inc.  29,914,021  1,093,058 
Abbott Laboratories  15,139,903  817,403 
* Amgen Inc.  9,945,120  562,595 
Medtronic Inc.  10,868,701  478,005 
Bristol-Myers Squibb Co.  16,768,944  423,416 
* Gilead Sciences Inc.  8,855,926  383,284 
Eli Lilly & Co.  10,127,638  361,658 
UnitedHealth Group Inc.  11,384,229  346,991 
Baxter International Inc.  5,902,672  346,369 
* Medco Health Solutions Inc.  4,639,602  296,517 
* WellPoint Inc.  4,652,542  271,197 
* Celgene Corp.  4,491,550  250,089 
Covidien PLC  4,920,826  235,658 
* Express Scripts Inc.  2,553,194  220,724 
* Thermo Fisher Scientific Inc.  3,997,273  190,630 
Allergan Inc.  2,977,918  187,639 
Becton Dickinson and Co.  2,344,518  184,889 
McKesson Corp.  2,608,583  163,036 
* Biogen Idec Inc.  2,828,962  151,349 
Stryker Corp.  2,920,080  147,084 
Aetna Inc.  4,274,868  135,513 
* Boston Scientific Corp.  14,783,425  133,051 
* Genzyme Corp.  2,651,004  129,926 
* St Jude Medical Inc.  3,412,757  125,521 
* Zimmer Holdings Inc.  2,100,736  124,175 
Cardinal Health Inc.  3,531,854  113,867 
* Intuitive Surgical Inc.  372,132  112,875 
* Forest Laboratories Inc.  2,960,230  95,053 
CIGNA Corp.  2,675,821  94,376 
Quest Diagnostics Inc.  1,547,650  93,447 
* Life Technologies Corp.  1,728,551  90,282 
* Vertex Pharmaceuticals Inc.  1,886,560  80,839 
* Hospira Inc.  1,579,236  80,541 
* Laboratory Corp. of America Holdings  1,062,001  79,480 
AmerisourceBergen Corp. Class A  2,915,136  75,998 
CR Bard Inc.  956,995  74,550 
* Humana Inc.  1,663,888  73,028 
* DaVita Inc.  1,020,878  59,966 
* Waters Corp.  936,749  58,041 
* Varian Medical Systems Inc.  1,231,054  57,675 
* Cerner Corp.  675,881  55,720 
* Mylan Inc.  2,995,898  55,214 
* Human Genome Sciences Inc.  1,770,847  54,188 
DENTSPLY International Inc.  1,385,821  48,739 
* Edwards Lifesciences Corp.  553,306  48,055 
* Henry Schein Inc.  885,525  46,579 
* Cephalon Inc.  732,268  45,701 
* CareFusion Corp.  1,769,865  44,264 
Beckman Coulter Inc.  673,308  44,061 
* Alexion Pharmaceuticals Inc.  863,681  42,165 
* Millipore Corp.  545,337  39,455 
* Watson Pharmaceuticals Inc.  985,730  39,045 
* ResMed Inc.  741,462  38,756 
IMS Health Inc.  1,789,626  37,690 
* Illumina Inc.  1,218,839  37,357 
* Hologic Inc.  2,519,949  36,539 
* Coventry Health Care Inc.  1,466,711  35,626 
* Mettler-Toledo International Inc.  331,234  34,776 
* Covance Inc.  628,362  34,290 


Vanguard® Total Stock Market Index Fund
Schedule of Investments
December 31, 2009

      Market 
      Value 
    Shares  ($000) 
*  Dendreon Corp.  1,286,730  33,815 
*  Community Health Systems Inc.  909,375  32,374 
*  Warner Chilcott PLC Class A  1,109,445  31,586 
*  Inverness Medical Innovations Inc.  750,871  31,169 
*  IDEXX Laboratories Inc.  574,872  30,721 
  Perrigo Co.  770,547  30,699 
*  King Pharmaceuticals Inc.  2,437,405  29,907 
  Omnicare Inc.  1,170,667  28,307 
*  Mednax Inc.  455,360  27,372 
  Universal Health Services Inc. Class B  891,680  27,196 
*  Tenet Healthcare Corp.  4,731,005  25,500 
*  Patterson Cos. Inc.  901,603  25,227 
*  Lincare Holdings Inc.  667,020  24,760 
*  United Therapeutics Corp.  470,024  24,747 
*  Myriad Genetics Inc.  941,909  24,584 
  Pharmaceutical Product Development Inc.  1,045,842  24,515 
*  Valeant Pharmaceuticals International  757,950  24,095 
  Techne Corp.  347,723  23,840 
*  Health Net Inc.  1,020,417  23,766 
*  Endo Pharmaceuticals Holdings Inc.  1,150,293  23,593 
  PerkinElmer Inc.  1,145,445  23,585 
*  Charles River Laboratories International Inc.  647,988  21,831 
*  Gen-Probe Inc.  494,964  21,234 
  Teleflex Inc.  391,009  21,071 
*  VCA Antech Inc.  832,495  20,746 
*  Kinetic Concepts Inc.  524,050  19,730 
*  Amylin Pharmaceuticals Inc.  1,388,636  19,705 
*  BioMarin Pharmaceutical Inc.  985,218  18,532 
*  Bio-Rad Laboratories Inc. Class A  186,297  17,970 
*  OSI Pharmaceuticals Inc.  570,462  17,701 
  Owens & Minor Inc.  411,297  17,657 
*  Onyx Pharmaceuticals Inc.  601,629  17,652 
*  Health Management Associates Inc. Class A  2,427,757  17,650 
  Cooper Cos. Inc.  444,873  16,959 
*  LifePoint Hospitals Inc.  511,290  16,622 
*  Healthsouth Corp.  869,346  16,318 
  STERIS Corp.  576,985  16,138 
  Medicis Pharmaceutical Corp. Class A  583,484  15,783 
*  WellCare Health Plans Inc.  415,761  15,283 
*  Thoratec Corp.  557,699  15,013 
*  Regeneron Pharmaceuticals Inc.  614,992  14,871 
*  Emergency Medical Services Corp. Class A  273,913  14,832 
*  Varian Inc.  285,088  14,693 
*  Masimo Corp.  480,595  14,620 
*  American Medical Systems Holdings Inc.  732,520  14,130 
*  Magellan Health Services Inc.  346,115  14,097 
  Hill-Rom Holdings Inc.  583,798  14,005 
*  Immucor Inc.  691,555  13,997 
*  Haemonetics Corp.  251,854  13,890 
*  AMERIGROUP Corp.  515,011  13,885 
*  Salix Pharmaceuticals Ltd.  537,208  13,645 
*  Auxilium Pharmaceuticals Inc.  451,219  13,528 
*  Catalyst Health Solutions Inc.  366,742  13,375 
*,^  Amedisys Inc.  273,084  13,261 
*  PSS World Medical Inc.  585,792  13,221 
*  Allscripts-Misys Healthcare Solutions Inc.  641,740  12,982 
*  Dionex Corp.  174,759  12,909 
*  Brookdale Senior Living Inc.  699,357  12,721 
  West Pharmaceutical Services Inc.  323,329  12,674 
*  HMS Holdings Corp.  258,073  12,566 
*  NuVasive Inc.  369,878  11,829 
  Quality Systems Inc.  182,621  11,467 
*  Sirona Dental Systems Inc.  351,797  11,166 
*  Psychiatric Solutions Inc.  527,337  11,148 


Vanguard® Total Stock Market Index Fund
Schedule of Investments
December 31, 2009

      Market 
      Value 
    Shares  ($000) 
*  Cubist Pharmaceuticals Inc.  570,714  10,826 
  Chemed Corp.  221,243  10,613 
*  Medivation Inc.  280,671  10,567 
*  Eclipsys Corp.  556,453  10,306 
*  Isis Pharmaceuticals Inc.  922,567  10,240 
*  Align Technology Inc.  559,092  9,963 
*  athenahealth Inc.  215,841  9,765 
*  Acorda Therapeutics Inc.  376,651  9,499 
*  Centene Corp.  446,870  9,460 
*  Incyte Corp. Ltd.  1,032,669  9,408 
*  Par Pharmaceutical Cos. Inc.  342,638  9,272 
*,^  MannKind Corp.  1,033,896  9,057 
*  Savient Pharmaceuticals Inc.  650,111  8,848 
*  ev3 Inc.  661,632  8,826 
*  Alkermes Inc.  926,743  8,721 
  Meridian Bioscience Inc.  401,603  8,655 
*  Exelixis Inc.  1,163,553  8,575 
*  Healthspring Inc.  484,794  8,537 
*  Nektar Therapeutics  914,663  8,525 
*  Seattle Genetics Inc.  823,248  8,364 
  PDL BioPharma Inc.  1,178,430  8,084 
*  Parexel International Corp.  558,502  7,875 
  Invacare Corp.  311,063  7,758 
*  Wright Medical Group Inc.  400,146  7,583 
*  Integra LifeSciences Holdings Corp.  203,615  7,489 
*  Vivus Inc.  807,576  7,422 
*  Gentiva Health Services Inc.  270,743  7,313 
*  Cepheid Inc.  569,543  7,108 
*  Volcano Corp.  402,643  6,998 
  Computer Programs & Systems Inc.  151,033  6,955 
*  Healthways Inc.  375,505  6,887 
*  Amsurg Corp. Class A  300,334  6,613 
*  Bruker Corp.  539,157  6,502 
*  Momenta Pharmaceuticals Inc.  513,988  6,481 
*,^  Emeritus Corp.  343,043  6,432 
*  Phase Forward Inc.  411,634  6,319 
*  Conmed Corp.  273,883  6,245 
*  RehabCare Group Inc.  204,871  6,234 
*  Viropharma Inc.  739,222  6,202 
*  AMAG Pharmaceuticals Inc.  161,631  6,147 
*  Theravance Inc.  469,221  6,133 
*  Martek Biosciences Corp.  320,659  6,073 
*  Celera Corp.  877,217  6,062 
*  Alnylam Pharmaceuticals Inc.  337,730  5,951 
*,^  Cell Therapeutics Inc.  5,219,540  5,950 
  Landauer Inc.  94,090  5,777 
*  Impax Laboratories Inc.  420,718  5,722 
*  Luminex Corp.  374,867  5,597 
*  Conceptus Inc.  296,190  5,557 
*  Cyberonics Inc.  267,176  5,461 
*  Hi-Tech Pharmacal Co. Inc.  188,657  5,292 
*  inVentiv Health Inc.  326,195  5,275 
*,^  Geron Corp.  935,267  5,191 
*  Halozyme Therapeutics Inc.  872,916  5,124 
*,^  Enzon Pharmaceuticals Inc.  485,796  5,115 
*  Allos Therapeutics Inc.  766,810  5,038 
*  Affymetrix Inc.  859,758  5,021 
*  Merit Medical Systems Inc.  259,237  5,001 
*  Kindred Healthcare Inc.  269,222  4,970 
*  Facet Biotech Corp.  282,536  4,967 
*  PharMerica Corp.  311,747  4,951 
*  Abaxis Inc.  192,190  4,910 
*  Odyssey HealthCare Inc.  308,503  4,806 
*  SonoSite Inc.  203,286  4,804 


Vanguard® Total Stock Market Index Fund
Schedule of Investments
December 31, 2009

      Market 
      Value 
    Shares  ($000) 
*  LHC Group Inc.  141,440  4,754 
*  Bio-Reference Labs Inc.  119,587  4,687 
*  MedAssets Inc.  219,015  4,645 
*  Zoll Medical Corp.  172,528  4,610 
*  InterMune Inc.  353,343  4,608 
*  Medicines Co.  544,961  4,545 
  Analogic Corp.  116,470  4,485 
*  Cantel Medical Corp.  216,409  4,367 
*  XenoPort Inc.  234,858  4,359 
*  ICU Medical Inc.  118,251  4,309 
*  Sun Healthcare Group Inc.  465,971  4,273 
*  Rigel Pharmaceuticals Inc.  438,781  4,173 
*  Quidel Corp.  298,142  4,108 
*  BioScrip Inc.  491,070  4,105 
*  Universal American Corp.  349,351  4,087 
*  DexCom Inc.  501,903  4,055 
*  Natus Medical Inc.  270,886  4,006 
*  Greatbatch Inc.  207,830  3,997 
*  Ariad Pharmaceuticals Inc.  1,745,113  3,979 
*,^  Novavax Inc.  1,485,119  3,950 
*  Air Methods Corp.  115,754  3,892 
*  Neogen Corp.  152,959  3,611 
*  Hanger Orthopedic Group Inc.  254,186  3,515 
*  Orthofix International NV  113,096  3,503 
*  NxStage Medical Inc.  411,450  3,436 
*  Insulet Corp.  240,357  3,432 
*  Corvel Corp.  102,286  3,431 
*  IPC The Hospitalist Co. Inc.  102,426  3,406 
*  MWI Veterinary Supply Inc.  87,252  3,289 
*  Pharmasset Inc.  158,590  3,283 
*  Spectranetics Corp.  464,808  3,235 
*  Nabi Biopharmaceuticals  657,566  3,222 
*  Immunogen Inc.  408,915  3,214 
*  Affymax Inc.  128,706  3,184 
*  Ligand Pharmaceuticals Inc. Class B  1,445,260  3,136 
*,^  Arena Pharmaceuticals Inc.  883,105  3,135 
*  Endologix Inc.  591,638  3,124 
*  AMN Healthcare Services Inc.  342,879  3,106 
*  Molina Healthcare Inc.  135,615  3,102 
*  Pain Therapeutics Inc.  577,536  3,096 
*  Chindex International Inc.  217,412  3,072 
*  Targacept Inc.  145,927  3,053 
*  Assisted Living Concepts Inc. Class A  114,709  3,025 
*  SurModics Inc.  133,469  3,024 
*  Accuray Inc.  525,438  2,948 
*  Obagi Medical Products Inc.  242,723  2,913 
*  Omnicell Inc.  248,829  2,909 
*  Albany Molecular Research Inc.  320,330  2,909 
*  Abraxis Bioscience Inc.  71,339  2,893 
*  Lexicon Pharmaceuticals Inc.  1,692,855  2,878 
*  Cross Country Healthcare Inc.  288,776  2,862 
*  TomoTherapy Inc.  709,193  2,766 
*  Genoptix Inc.  77,188  2,742 
*  US Physical Therapy Inc.  161,107  2,728 
*  Emergent Biosolutions Inc.  198,004  2,691 
*  Inspire Pharmaceuticals Inc.  486,681  2,686 
*  Orthovita Inc.  763,516  2,680 
  America Service Group Inc.  168,007  2,666 
*  Cytokinetics Inc.  915,377  2,664 
*  Almost Family Inc.  67,225  2,657 
*  Zymogenetics Inc.  410,974  2,626 
*  Somanetics Corp.  148,774  2,611 
*  Kendle International Inc.  142,398  2,607 
*,^  Sequenom Inc.  629,393  2,606 


Vanguard® Total Stock Market Index Fund
Schedule of Investments
December 31, 2009

      Market 
      Value 
    Shares  ($000) 
*  Res-Care Inc.  231,419  2,592 
*  Vanda Pharmaceuticals Inc.  227,761  2,560 
*  eResearchTechnology Inc.  425,384  2,557 
*  Questcor Pharmaceuticals Inc.  531,100  2,523 
*  OraSure Technologies Inc.  486,085  2,469 
*  Immunomedics Inc.  760,982  2,443 
*  Medical Action Industries Inc.  150,862  2,423 
*  Sangamo Biosciences Inc.  405,784  2,402 
*  Angiodynamics Inc.  147,489  2,372 
*  Santarus Inc.  506,995  2,342 
*  Triple-S Management Corp. Class B  131,869  2,321 
*  IRIS International Inc.  185,076  2,288 
*,^  Cel-Sci Corp.  2,483,484  2,235 
*  Symmetry Medical Inc.  264,584  2,133 
*  Cypress Bioscience Inc.  369,982  2,131 
*  Accelrys Inc.  370,448  2,123 
*  Optimer Pharmaceuticals Inc.  185,519  2,093 
*  Five Star Quality Care Inc.  598,581  2,077 
*  Kensey Nash Corp.  80,498  2,053 
*  ATS Medical Inc.  624,817  2,018 
*  ABIOMED Inc.  227,931  1,992 
*  Matrixx Initiatives Inc.  462,067  1,950 
*,^  BioCryst Pharmaceuticals Inc.  300,893  1,944 
*,^  Protalix BioTherapeutics Inc.  293,115  1,940 
*  Palomar Medical Technologies Inc.  191,269  1,928 
*  AMICAS Inc.  348,333  1,895 
*  Genomic Health Inc.  96,629  1,890 
*  Vital Images Inc.  143,892  1,826 
*  CryoLife Inc.  280,169  1,799 
*  Micromet Inc.  267,007  1,778 
*  American Dental Partners Inc.  137,648  1,776 
*  Pozen Inc.  295,961  1,773 
  National Healthcare Corp.  48,536  1,753 
*  Repligen Corp.  425,553  1,749 
*  Alliance HealthCare Services Inc.  305,055  1,742 
*  Stereotaxis Inc.  436,451  1,715 
*  Clinical Data Inc.  93,159  1,701 
*  Dyax Corp.  499,665  1,694 
*  Cambrex Corp.  300,586  1,677 
*  Cynosure Inc. Class A  145,440  1,671 
*  Durect Corp.  673,089  1,663 
*  NPS Pharmaceuticals Inc.  483,030  1,642 
*  Orexigen Therapeutics Inc.  220,637  1,642 
*  Metabolix Inc.  145,389  1,609 
*  BMP Sunstone Corp.  282,785  1,609 
*  RTI Biologics Inc.  418,541  1,607 
  Young Innovations Inc.  64,253  1,592 
*  Exactech Inc.  91,589  1,585 
*,^  StemCells Inc.  1,241,191  1,564 
*  Curis Inc.  480,127  1,560 
*  Sciclone Pharmaceuticals Inc.  669,642  1,560 
*  Neurocrine Biosciences Inc.  564,661  1,536 
*  Vascular Solutions Inc.  182,105  1,528 
*,^  Poniard Pharmaceuticals Inc.  833,760  1,526 
*  Maxygen Inc.  248,801  1,515 
*  Spectrum Pharmaceuticals Inc.  340,030  1,510 
*  Rochester Medical Corp.  134,600  1,498 
*  Depomed Inc.  442,941  1,484 
*  Skilled Healthcare Group Inc.  197,035  1,468 
*  Micrus Endovascular Corp.  96,493  1,448 
*  Allion Healthcare Inc.  220,657  1,448 
*,^  Cadence Pharmaceuticals Inc.  148,748  1,438 
*,^  Electro-Optical Sciences Inc.  138,413  1,434 
  Atrion Corp.  9,135  1,422 


Vanguard® Total Stock Market Index Fund
Schedule of Investments
December 31, 2009

      Market 
      Value 
    Shares  ($000) 
*  Enzo Biochem Inc.  262,367  1,412 
*  Nighthawk Radiology Holdings Inc.  309,350  1,401 
*  SuperGen Inc.  533,137  1,397 
*  Capital Senior Living Corp.  270,925  1,360 
*  Progenics Pharmaceuticals Inc.  305,281  1,355 
*  Icad Inc.  891,040  1,354 
*  KV Pharmaceutical Co. Class A  368,952  1,354 
*  Clarient Inc.  502,507  1,332 
*  Penwest Pharmaceuticals Co.  513,499  1,330 
  Ensign Group Inc.  85,148  1,309 
*  Rural/Metro Corp.  214,363  1,286 
*  Allied Healthcare International Inc.  440,427  1,282 
*  Medidata Solutions Inc.  81,012  1,264 
*  Alphatec Holdings Inc.  228,125  1,218 
*  Synovis Life Technologies Inc.  94,175  1,216 
*,^  AVI BioPharma Inc.  824,411  1,204 
*  Synta Pharmaceuticals Corp.  231,181  1,170 
*  Vical Inc.  351,501  1,156 
*  Hansen Medical Inc.  377,907  1,145 
*  Anika Therapeutics Inc.  148,400  1,132 
*  Cerus Corp.  564,123  1,123 
*  Myriad Pharmaceuticals Inc.  217,996  1,097 
*  AVANIR Pharmaceuticals Inc.  572,639  1,088 
*  Ardea Biosciences Inc.  76,968  1,078 
*  Medcath Corp.  135,569  1,072 
*  National Dentex Corp.  105,876  1,069 
  Utah Medical Products Inc.  35,949  1,054 
*,^  XOMA Ltd.  1,507,184  1,053 
*  Sunrise Senior Living Inc.  326,629  1,052 
*  Peregrine Pharmaceuticals Inc.  349,400  1,034 
*  Staar Surgical Co.  332,117  1,033 
*  Chelsea Therapeutics International Inc.  381,814  1,031 
*  CardioNet Inc.  172,660  1,026 
*,^  Osiris Therapeutics Inc.  142,569  1,018 
*  Insmed Inc.  1,266,984  976 
*  HealthTronics Inc.  369,069  974 
*  LCA-Vision Inc.  186,654  956 
*  Opko Health Inc.  506,578  927 
*  Celldex Therapeutics Inc.  195,954  917 
*,^  SIGA Technologies Inc.  156,625  908 
*  Providence Service Corp.  57,405  907 
*  Harvard Bioscience Inc.  251,628  898 
  Psychemedics Corp.  118,981  875 
*,^  GenVec Inc.  711,245  853 
*  Transcend Services Inc.  39,497  844 
*  Cutera Inc.  98,035  834 
*  Continucare Corp.  190,148  831 
*  Arqule Inc.  224,047  827 
*  ISTA Pharmaceuticals Inc.  172,495  787 
*  Adolor Corp.  538,318  786 
*  Akorn Inc.  429,525  769 
*,^  Hemispherx Biopharma Inc.  1,359,726  761 
*  Idenix Pharmaceuticals Inc.  336,756  724 
*,^  Discovery Laboratories Inc.  1,150,142  723 
*  Array Biopharma Inc.  251,569  707 
*  Quadramed Corp.  83,184  698 
  Trimeris Inc.  265,635  696 
*  Theragenics Corp.  517,163  693 
*,^  Cytori Therapeutics Inc.  113,465  692 
*,^  Alexza Pharmaceuticals Inc.  285,876  686 
*  BioMimetic Therapeutics Inc.  55,707  665 
*  Digirad Corp.  314,165  660 
*  Biolase Technology Inc.  345,025  656 
*  Pharmacyclics Inc.  206,775  649 


Vanguard® Total Stock Market Index Fund
Schedule of Investments
December 31, 2009

      Market 
      Value 
    Shares  ($000) 
*  Acadia Pharmaceuticals Inc.  478,337  631 
*  Osteotech Inc.  189,150  605 
*  Caraco Pharmaceutical Laboratories Ltd.  99,411  600 
*  Entremed Inc.  745,509  596 
*  PDI Inc.  123,052  593 
*  Delcath Systems Inc.  111,944  575 
*  BioForm Medical Inc.  169,000  575 
*  MAP Pharmaceuticals Inc.  60,000  572 
*  Corcept Therapeutics Inc.  199,574  555 
*  CPEX Pharmaceuticals Inc.  48,951  553 
*  Biodel Inc.  125,832  546 
*  Candela Corp.  175,823  533 
*  Columbia Laboratories Inc.  482,490  521 
*  Anadys Pharmaceuticals Inc.  244,666  516 
*  Idera Pharmaceuticals Inc.  98,276  508 
*  RadNet Inc.  239,885  489 
*  Strategic Diagnostics Inc.  347,876  480 
*  Metropolitan Health Networks Inc.  227,003  452 
*  Merge Healthcare Inc.  133,828  450 
*,^  GTx Inc.  106,070  445 
*  Infinity Pharmaceuticals Inc.  72,026  445 
  Daxor Corp.  36,300  437 
*  BioSphere Medical Inc.  152,870  419 
*,^  MAKO Surgical Corp.  37,727  419 
*  Caliper Life Sciences Inc.  155,724  400 
*,^  Generex Biotechnology Corp.  750,520  398 
*  Amicus Therapeutics Inc.  94,265  374 
*,^  MiddleBrook Pharmaceuticals Inc.  729,455  372 
*  NMT Medical Inc.  146,218  361 
*  Hooper Holmes Inc.  334,611  351 
*  Mediware Information Systems  46,156  329 
*  American Caresource Holdings Inc.  136,036  326 
*  AspenBio Pharma Inc.  182,656  318 
*  Health Grades Inc.  73,599  316 
*  Telik Inc.  409,528  313 
*  Javelin Pharmaceuticals Inc.  229,173  298 
*  OncoGenex Pharmaceutical Inc.  13,300  296 
*  Orchid Cellmark Inc.  171,951  294 
*  Lannett Co. Inc.  49,470  292 
*  Dusa Pharmaceuticals Inc.  183,943  283 
*,^  Antigenics Inc.  442,458  283 
*  Dynavax Technologies Corp.  192,320  273 
*,^  Biosante Pharmaceuticals Inc.  180,965  262 
*  CombiMatrix Corp.  38,594  243 
*  CytRx Corp.  196,782  220 
*  Inovio Biomedical Corp.  177,183  202 
*  Cardiac Science Corp.  89,496  200 
*  Arrowhead Research Corp.  358,422  190 
*  Bovie Medical Corp.  23,200  181 
*  Aastrom Biosciences Inc.  546,506  168 
*  Animal Health International Inc.  69,406  167 
*  Dialysis Corp. Of America  22,577  162 
*  TranS1 Inc.  39,102  154 
*  Hythiam Inc.  348,637  153 
*  OTIX Global Inc.  180,737  150 
*,^  OXiGENE Inc.  124,917  142 
*  Orthologic Corp.  195,946  141 
*  Exact Sciences Corp.  38,860  132 
*  Heska Corp.  244,014  129 
*  Medtox Scientific Inc.  16,177  125 
*,^  Repros Therapeutics Inc.  150,333  120 
*  RXi Pharmaceuticals Corp.  25,117  115 
*  ThermoGenesis Corp.  196,394  112 


Vanguard® Total Stock Market Index Fund
Schedule of Investments
December 31, 2009

      Market 
      Value 
    Shares  ($000) 
*  Retractable Technologies Inc.  67,334  110 
  MedQuist Inc.  16,400  110 
*,^  Nexmed Inc.  316,001  89 
*  SenoRx Inc.  9,137  75 
*  Combinatorx Inc.  74,800  62 
*  Inhibitex Inc.  67,080  62 
  National Research Corp.  2,842  59 
*  Quigley Corp.  29,374  59 
*  Celsion Corp.  18,263  56 
*  Synergetics USA Inc.  42,080  56 
*  Vision-Sciences Inc.  36,185  45 
*  SCOLR Pharma Inc.  82,225  39 
*  Molecular Insight Pharmaceuticals Inc.  15,112  34 
*  IVAX Diagnostics Inc.  61,215  31 
*  Solta Medical Inc.  13,799  28 
*  Helicos BioSciences Corp.  14,000  14 
*  GTC Biotherapeutics Inc.  19,356  14 
*  Oncothyreon Inc.  2,370  13 
*  Sucampo Pharmaceuticals Inc. Class A  2,500  10 
*  ARYx Therapeutics Inc.  3,100  10 
*  NovaMed Inc.  1,786  7 
*  BSD Medical Corp.  1,900  3 
*  KV Pharmaceutical Co. Class B  500  2 
*  Nanosphere Inc.  278  2 
*  Trubion Pharmaceuticals Inc.  104  — 
*  Palatin Technologies Inc.  6  — 
      15,108,982 
Industrials (10.9%)     
  General Electric Co.  104,073,701  1,574,635 
  United Technologies Corp.  8,757,475  607,856 
  3M Co.  6,496,617  537,075 
  United Parcel Service Inc. Class B  6,877,930  394,587 
  Boeing Co.  6,758,639  365,845 
  Caterpillar Inc.  6,084,644  346,764 
  Burlington Northern Santa Fe Corp.  3,330,077  328,412 
  Union Pacific Corp.  4,938,983  315,601 
  Emerson Electric Co.  7,360,732  313,567 
  Honeywell International Inc.  6,996,964  274,281 
  FedEx Corp.  2,906,489  242,547 
  Lockheed Martin Corp.  3,199,628  241,092 
  Deere & Co.  4,142,228  224,053 
  General Dynamics Corp.  3,205,769  218,537 
  Danaher Corp.  2,661,736  200,163 
  Illinois Tool Works Inc.  4,163,448  199,804 
  Raytheon Co.  3,793,540  195,443 
  Norfolk Southern Corp.  3,600,501  188,738 
  CSX Corp.  3,840,947  186,248 
  Tyco International Ltd.  4,643,200  165,669 
  Northrop Grumman Corp.  2,959,704  165,299 
  Waste Management Inc.  4,583,974  154,984 
  Precision Castparts Corp.  1,373,252  151,538 
  PACCAR Inc.  3,385,462  122,791 
  Ingersoll-Rand PLC  3,130,956  111,900 
  Republic Services Inc. Class A  3,719,971  105,312 
  L-3 Communications Holdings Inc.  1,142,809  99,367 
  Eaton Corp.  1,543,561  98,201 
  CH Robinson Worldwide Inc.  1,650,944  96,960 
*  Delta Air Lines Inc.  7,624,764  86,770 
  Cummins Inc.  1,879,769  86,206 
  Rockwell Collins Inc.  1,545,607  85,565 
  Parker Hannifin Corp.  1,573,948  84,804 
  ITT Corp.  1,698,956  84,506 
  Southwest Airlines Co.  7,270,532  83,102 
  Fluor Corp.  1,763,770  79,440 


Vanguard® Total Stock Market Index Fund
Schedule of Investments
December 31, 2009

      Market 
      Value 
    Shares  ($000) 
  Goodrich Corp.  1,215,506  78,096 
  Dover Corp.  1,824,973  75,937 
  Expeditors International of Washington Inc.  2,080,144  72,243 
  Cooper Industries PLC  1,635,226  69,726 
  Rockwell Automation Inc.  1,391,882  65,391 
*,^  First Solar Inc.  456,929  61,868 
  WW Grainger Inc.  613,958  59,450 
  Fastenal Co.  1,311,644  54,617 
*  McDermott International Inc.  2,255,316  54,150 
  Flowserve Corp.  548,786  51,877 
  Joy Global Inc.  1,003,263  51,758 
  Textron Inc.  2,651,600  49,877 
  Masco Corp.  3,533,242  48,794 
  Roper Industries Inc.  890,742  46,648 
  Pitney Bowes Inc.  2,030,572  46,216 
*  Jacobs Engineering Group Inc.  1,216,982  45,771 
  RR Donnelley & Sons Co.  2,012,987  44,829 
*  Stericycle Inc.  793,523  43,779 
  Dun & Bradstreet Corp.  517,633  43,673 
  Manpower Inc.  769,224  41,984 
  Pall Corp.  1,156,402  41,862 
  Bucyrus International Inc. Class A  737,543  41,575 
*  Iron Mountain Inc.  1,791,683  40,779 
*  Quanta Services Inc.  1,941,203  40,455 
  AMETEK Inc.  1,055,110  40,347 
  Equifax Inc.  1,240,904  38,332 
  Robert Half International Inc.  1,416,652  37,867 
*  URS Corp.  828,120  36,868 
*  Foster Wheeler AG  1,241,974  36,564 
  Avery Dennison Corp.  995,949  36,342 
  Stanley Works  701,470  36,133 
  Cintas Corp.  1,349,350  35,151 
  Oshkosh Corp.  858,762  31,800 
*  Kansas City Southern  941,664  31,348 
  Donaldson Co. Inc.  720,808  30,663 
  KBR Inc.  1,575,056  29,926 
  Pentair Inc.  918,078  29,654 
*  AGCO Corp.  906,706  29,323 
*  Alliant Techsystems Inc.  322,819  28,495 
  JB Hunt Transport Services Inc.  872,048  28,141 
*  Corrections Corp. of America  1,129,647  27,733 
*  IHS Inc. Class A  496,730  27,226 
*  Verisk Analytics Inc. Class A  887,988  26,888 
  SPX Corp.  482,239  26,378 
*  Waste Connections Inc.  785,533  26,190 
*  Copart Inc.  701,803  25,707 
  Harsco Corp.  788,201  25,404 
*  AMR Corp.  3,230,429  24,971 
  IDEX Corp.  792,316  24,681 
*  Continental Airlines Inc. Class B  1,356,942  24,316 
*  Navistar International Corp.  622,218  24,049 
*  FTI Consulting Inc.  508,693  23,990 
  Snap-On Inc.  566,164  23,926 
*  Aecom Technology Corp.  867,688  23,861 
  Hubbell Inc. Class B  502,225  23,755 
*  Shaw Group Inc.  820,820  23,599 
  Ryder System Inc.  549,086  22,606 
  Lincoln Electric Holdings Inc.  418,281  22,361 
*  BE Aerospace Inc.  944,838  22,204 
*  Covanta Holding Corp.  1,217,753  22,029 
  Gardner Denver Inc.  511,234  21,753 
*  Hertz Global Holdings Inc.  1,813,492  21,617 
*  UAL Corp.  1,640,270  21,176 
*  Terex Corp.  1,062,363  21,045 


Vanguard® Total Stock Market Index Fund
Schedule of Investments
December 31, 2009

      Market 
      Value 
    Shares  ($000) 
  Kennametal Inc.  799,233  20,716 
  Carlisle Cos. Inc.  602,585  20,645 
*  Monster Worldwide Inc.  1,176,185  20,466 
*  Spirit Aerosystems Holdings Inc. Class A  1,029,209  20,440 
  MSC Industrial Direct Co. Class A  434,834  20,437 
  Towers Watson & Co. Class A  419,584  19,939 
  Landstar System Inc.  505,154  19,585 
*  Owens Corning  755,082  19,360 
  Timken Co.  809,366  19,190 
*  Thomas & Betts Corp.  520,266  18,620 
*  GrafTech International Ltd.  1,184,373  18,417 
  Regal-Beloit Corp.  351,327  18,248 
  Lennox International Inc.  466,887  18,227 
  Wabtec Corp.  445,041  18,175 
  Nordson Corp.  296,585  18,145 
  TransDigm Group Inc.  381,757  18,130 
*  Kirby Corp.  503,594  17,540 
*  EMCOR Group Inc.  646,517  17,391 
  Graco Inc.  590,470  16,870 
*,^  American Superconductor Corp.  411,272  16,821 
  Con-way Inc.  480,770  16,784 
  CLARCOR Inc.  501,864  16,280 
*  Tetra Tech Inc.  594,150  16,143 
  Woodward Governor Co.  602,161  15,518 
*  General Cable Corp.  512,359  15,074 
  Acuity Brands Inc.  422,679  15,064 
  Toro Co.  352,541  14,740 
  Brady Corp. Class A  478,206  14,351 
  Valmont Industries Inc.  180,632  14,171 
  Crane Co.  459,400  14,067 
  Curtiss-Wright Corp.  447,975  14,031 
*  Clean Harbors Inc.  231,956  13,827 
  Alexander & Baldwin Inc.  403,924  13,826 
  Trinity Industries Inc.  777,870  13,566 
  UTi Worldwide Inc.  937,549  13,426 
  Watsco Inc.  272,629  13,353 
*  United Stationers Inc.  234,081  13,308 
*  Avis Budget Group Inc.  1,005,785  13,196 
  GATX Corp.  451,900  12,992 
*  Teledyne Technologies Inc.  335,716  12,878 
*  JetBlue Airways Corp.  2,355,959  12,840 
  Manitowoc Co. Inc.  1,281,444  12,776 
*,^  SunPower Corp. Class A  537,635  12,731 
*  MPS Group Inc.  914,388  12,564 
*  Genesee & Wyoming Inc. Class A  377,265  12,314 
*  Hexcel Corp.  948,180  12,307 
  Baldor Electric Co.  436,226  12,254 
  Actuant Corp. Class A  654,552  12,129 
*  Esterline Technologies Corp.  293,505  11,966 
*  Alaska Air Group Inc.  345,336  11,935 
*  Moog Inc. Class A  404,974  11,837 
  Knight Transportation Inc.  612,231  11,810 
  Kaydon Corp.  326,576  11,678 
  Granite Construction Inc.  341,642  11,500 
*  Geo Group Inc.  505,633  11,063 
*  WESCO International Inc.  393,522  10,629 
  HNI Corp.  377,869  10,441 
  Brink's Co.  426,332  10,377 
  Simpson Manufacturing Co. Inc.  385,019  10,353 
  Belden Inc.  460,546  10,095 
  AO Smith Corp.  230,691  10,010 
*  EnerSys  451,199  9,868 
*  HUB Group Inc. Class A  365,718  9,812 
*,^  USG Corp.  681,988  9,582 


Vanguard® Total Stock Market Index Fund
Schedule of Investments
December 31, 2009

      Market 
      Value 
    Shares  ($000) 
  Skywest Inc.  549,419  9,296 
  ESCO Technologies Inc.  258,760  9,277 
  Briggs & Stratton Corp.  494,743  9,257 
  Mueller Industries Inc.  367,510  9,129 
  Werner Enterprises Inc.  459,834  9,100 
*  Resources Connection Inc.  422,703  8,970 
  Watts Water Technologies Inc. Class A  290,034  8,968 
  Mine Safety Appliances Co.  336,690  8,932 
  ABM Industries Inc.  430,893  8,902 
  Heartland Express Inc.  581,662  8,882 
*  SYKES Enterprises Inc.  347,669  8,855 
*  AAR Corp.  383,383  8,810 
  Herman Miller Inc.  551,084  8,806 
  Healthcare Services Group Inc.  407,333  8,741 
*  Insituform Technologies Inc. Class A  383,869  8,722 
*  SunPower Corp. Class B  412,994  8,652 
*  Old Dominion Freight Line Inc.  276,709  8,495 
*  Orbital Sciences Corp.  554,322  8,459 
  Rollins Inc.  438,447  8,453 
  Forward Air Corp.  331,485  8,304 
  Otter Tail Corp.  333,914  8,281 
  Applied Industrial Technologies Inc.  374,836  8,273 
*  Middleby Corp.  163,609  8,020 
  Triumph Group Inc.  164,575  7,941 
*  CoStar Group Inc.  188,065  7,855 
  Deluxe Corp.  527,825  7,807 
  American Science & Engineering Inc.  102,831  7,799 
  Mueller Water Products Inc. Class A  1,489,154  7,744 
*  Armstrong World Industries Inc.  198,648  7,733 
*  MasTec Inc.  610,910  7,636 
  Corporate Executive Board Co.  333,983  7,621 
  Barnes Group Inc.  449,654  7,599 
  Arkansas Best Corp.  255,291  7,513 
*,^  Allegiant Travel Co. Class A  156,235  7,370 
*  Korn/Ferry International  441,911  7,292 
  Robbins & Myers Inc.  307,905  7,242 
*  Beacon Roofing Supply Inc.  442,906  7,086 
*  TrueBlue Inc.  475,146  7,037 
*  US Airways Group Inc.  1,430,974  6,926 
*  EnerNOC Inc.  227,271  6,907 
*  Navigant Consulting Inc.  461,662  6,860 
  Universal Forest Products Inc.  183,307  6,748 
*  II-VI Inc.  210,189  6,684 
*  Atlas Air Worldwide Holdings Inc.  176,502  6,575 
*  Griffon Corp.  534,602  6,533 
*  M&F Worldwide Corp.  164,979  6,517 
  Albany International Corp.  287,997  6,468 
*,^  Power-One Inc.  1,430,008  6,221 
  EnergySolutions Inc.  719,772  6,111 
*,^  Genco Shipping & Trading Ltd.  272,198  6,092 
  Cubic Corp.  161,330  6,018 
*  Dollar Thrifty Automotive Group Inc.  234,194  5,998 
*  AirTran Holdings Inc.  1,137,820  5,939 
*,^  Energy Conversion Devices Inc.  553,958  5,855 
  Quanex Building Products Corp.  339,833  5,767 
*  EnPro Industries Inc.  217,802  5,752 
  Raven Industries Inc.  178,048  5,657 
*  Cenveo Inc.  635,398  5,560 
  Ameron International Corp.  85,422  5,421 
*  GenCorp Inc.  763,460  5,344 
  Heidrick & Struggles International Inc.  170,726  5,333 
  Kaman Corp.  224,631  5,187 
  Badger Meter Inc.  129,970  5,175 
*  Huron Consulting Group Inc.  222,777  5,133 


Vanguard® Total Stock Market Index Fund
Schedule of Investments
December 31, 2009

      Market 
      Value 
    Shares  ($000) 
  Comfort Systems USA Inc.  415,076  5,122 
*  Interline Brands Inc.  291,993  5,043 
*,^  Evergreen Solar Inc.  3,306,290  4,992 
  Administaff Inc.  211,119  4,980 
*  Layne Christensen Co.  169,949  4,879 
  Knoll Inc.  469,981  4,855 
  Franklin Electric Co. Inc.  165,359  4,809 
  McGrath Rentcorp  212,302  4,747 
*  School Specialty Inc.  202,544  4,738 
*  Mobile Mini Inc.  331,331  4,668 
*  Tutor Perini Corp.  257,347  4,653 
*  Force Protection Inc.  889,030  4,632 
  Lindsay Corp.  115,568  4,605 
*  United Rentals Inc.  464,102  4,553 
*  Chart Industries Inc.  270,717  4,480 
*  GeoEye Inc.  159,857  4,457 
*  Spherion Corp.  789,150  4,435 
*  DynCorp International Inc. Class A  305,966  4,391 
*  ATC Technology Corp.  183,587  4,379 
*  Ceradyne Inc.  227,177  4,364 
  Encore Wire Corp.  205,214  4,324 
*  RBC Bearings Inc.  176,984  4,306 
*  Orion Marine Group Inc.  203,942  4,295 
*  Advisory Board Co.  136,785  4,194 
*  Astec Industries Inc.  155,361  4,185 
*  Altra Holdings Inc.  338,251  4,177 
*,^  Capstone Turbine Corp.  3,224,645  4,160 
*  Michael Baker Corp.  100,039  4,142 
  G&K Services Inc. Class A  159,193  4,001 
*  Consolidated Graphics Inc.  112,675  3,946 
  HEICO Corp. Class A  109,166  3,926 
*  Macquarie Infrastructure Co. LLC  319,014  3,917 
  Aircastle Ltd.  393,843  3,879 
*  Aerovironment Inc.  133,064  3,870 
  Tredegar Corp.  243,096  3,846 
  Tennant Co.  144,490  3,784 
  Steelcase Inc. Class A  593,717  3,776 
  Seaboard Corp.  2,776  3,745 
*  Kforce Inc.  298,092  3,726 
*  Colfax Corp.  307,918  3,707 
  CIRCOR International Inc.  146,873  3,698 
*  Waste Services Inc.  404,691  3,687 
  John Bean Technologies Corp.  215,023  3,658 
  Gorman-Rupp Co.  131,269  3,628 
*  Blount International Inc.  357,935  3,615 
*  Celadon Group Inc.  332,161  3,604 
  Apogee Enterprises Inc.  255,959  3,583 
*  DigitalGlobe Inc.  147,984  3,581 
*  CBIZ Inc.  459,815  3,541 
  Ennis Inc.  209,668  3,520 
  Viad Corp.  169,476  3,496 
*  Flow International Corp.  1,125,909  3,468 
  Diamond Management & Technology Consultants Inc. Class A  468,555  3,453 
*  Team Inc.  182,262  3,428 
  Applied Signal Technology Inc.  174,108  3,359 
  Interface Inc. Class A  396,649  3,296 
*  Dycom Industries Inc.  408,422  3,280 
*  On Assignment Inc.  454,235  3,248 
*  ICF International Inc.  119,990  3,216 
  Sauer-Danfoss Inc.  262,319  3,150 
*  Harbin Electric Inc.  152,500  3,132 
  Gibraltar Industries Inc.  198,936  3,129 
*  Kelly Services Inc. Class A  259,553  3,096 
  Sun Hydraulics Corp.  117,440  3,083 


Vanguard® Total Stock Market Index Fund
Schedule of Investments
December 31, 2009

      Value 
    Shares  ($000) 
*  AZZ Inc.  92,859  3,036 
*  Sterling Construction Co. Inc.  156,832  3,008 
*  Taser International Inc.  686,063  3,005 
*  LB Foster Co. Class A  100,435  2,994 
*,^  China BAK Battery Inc.  1,067,730  2,968 
*  American Reprographics Co.  418,374  2,933 
*  Acacia Research - Acacia Technologies  320,800  2,922 
*  RSC Holdings Inc.  413,492  2,911 
*  Stanley Inc.  105,259  2,885 
*  MYR Group Inc.  158,944  2,874 
*,^  FuelCell Energy Inc.  759,720  2,857 
  FreightCar America Inc.  143,182  2,839 
*  Hawaiian Holdings Inc.  389,511  2,727 
  Great Lakes Dredge & Dock Corp.  413,710  2,681 
  AAON Inc.  137,280  2,676 
*  ACCO Brands Corp.  363,234  2,644 
*  Amerco Inc.  52,902  2,630 
  Houston Wire & Cable Co.  220,451  2,623 
*  Exponent Inc.  93,489  2,603 
  Cascade Corp.  94,358  2,594 
*  Rush Enterprises Inc. Class A  213,336  2,537 
*  UQM Technologies Inc.  368,662  2,525 
  American Ecology Corp.  145,804  2,484 
*  Columbus McKinnon Corp.  180,674  2,468 
*  H&E Equipment Services Inc.  229,274  2,405 
*  Miller Industries Inc.  211,310  2,398 
  Standex International Corp.  118,526  2,381 
*  American Commercial Lines Inc.  128,966  2,364 
*  Metalico Inc.  480,315  2,363 
  Insteel Industries Inc.  180,358  2,345 
*  Cornell Cos. Inc.  102,236  2,321 
  HEICO Corp.  52,314  2,319 
  Graham Corp.  111,244  2,303 
*  Eagle Bulk Shipping Inc.  462,389  2,289 
*  Marten Transport Ltd.  127,482  2,288 
*  Republic Airways Holdings Inc.  306,126  2,262 
  Dynamic Materials Corp.  112,640  2,258 
  Ampco-Pittsburgh Corp.  71,452  2,253 
*,^  Microvision Inc.  704,277  2,233 
*  Argon ST Inc.  101,662  2,208 
  Federal Signal Corp.  360,564  2,171 
*  Polypore International Inc.  181,307  2,158 
  NACCO Industries Inc. Class A  42,226  2,103 
  Titan International Inc.  257,543  2,089 
*  Innerworkings Inc.  351,684  2,075 
  TAL International Group Inc.  151,790  2,008 
  CDI Corp.  153,782  1,991 
*  Kadant Inc.  122,213  1,951 
*  Tecumseh Products Co. Class A  163,969  1,917 
*  Dynamex Inc.  104,635  1,894 
*  CRA International Inc.  71,056  1,894 
*,^  Broadwind Energy Inc.  233,703  1,891 
  LSI Industries Inc.  238,957  1,883 
*,^  Builders FirstSource Inc.  488,957  1,882 
*,^  Ener1 Inc.  294,980  1,870 
  Met-Pro Corp.  174,873  1,857 
*  Powell Industries Inc.  57,921  1,826 
  American Woodmark Corp.  92,481  1,820 
  Ducommun Inc.  96,355  1,803 
  Kimball International Inc. Class B  211,226  1,800 
*  Northwest Pipe Co.  66,496  1,786 
*  Energy Recovery Inc.  259,589  1,786 
*  Pike Electric Corp.  189,437  1,758 
*  SmartHeat Inc.  118,878  1,726 


Vanguard® Total Stock Market Index Fund
Schedule of Investments
December 31, 2009

      Market 
      Value 
    Shares  ($000) 
*  Furmanite Corp.  450,149  1,715 
  International Shipholding Corp.  54,404  1,690 
  Bowne & Co. Inc.  248,727  1,661 
*,^  Fuel Tech Inc.  203,287  1,661 
*  Titan Machinery Inc.  143,079  1,651 
*  Pinnacle Airlines Corp.  231,106  1,590 
*,^  GT Solar International Inc.  283,811  1,578 
*  APAC Customer Services Inc.  263,232  1,569 
*  Willis Lease Finance Corp.  103,668  1,555 
*  Volt Information Sciences Inc.  151,652  1,517 
*  PRG-Schultz International Inc.  256,115  1,514 
*  K-Tron International Inc.  13,841  1,505 
*  Ladish Co. Inc.  99,514  1,501 
*  Saia Inc.  99,711  1,478 
*  Astronics Corp.  171,815  1,469 
  Aceto Corp.  282,551  1,455 
*  GP Strategies Corp.  188,753  1,421 
*  Trex Co. Inc.  68,999  1,352 
  Greenbrier Cos. Inc.  130,058  1,350 
*  WCA Waste Corp.  310,093  1,336 
*  3D Systems Corp.  115,764  1,308 
  Horizon Lines Inc. Class A  231,424  1,289 
*  PMFG Inc.  78,227  1,268 
  Courier Corp.  88,862  1,266 
*  Herley Industries Inc.  90,503  1,257 
*  Quixote Corp.  196,920  1,254 
*,^  Valence Technology Inc.  1,351,511  1,230 
*,^  TBS International Ltd. Class A  166,778  1,226 
  Todd Shipyards Corp.  73,136  1,226 
*  COMSYS IT Partners Inc.  137,426  1,222 
  Twin Disc Inc.  115,521  1,206 
*  Standard Parking Corp.  75,486  1,199 
*,^  Advanced Battery Technologies Inc.  295,991  1,184 
  Alamo Group Inc.  68,267  1,171 
*  Quality Distribution Inc.  294,598  1,164 
*  Hudson Highland Group Inc.  245,099  1,162 
*  Vicor Corp.  122,246  1,137 
*  ICT Group Inc.  68,060  1,111 
  Schawk Inc. Class A  81,178  1,104 
*  NN Inc.  278,530  1,103 
  Barrett Business Services Inc.  89,736  1,103 
  Pacer International Inc.  341,001  1,078 
*  LaBarge Inc.  88,160  1,062 
*  Orion Energy Systems Inc.  238,065  1,045 
*  Casella Waste Systems Inc. Class A  258,552  1,039 
  Superior Uniform Group Inc.  106,489  1,038 
*  Lydall Inc.  197,157  1,027 
*  Perma-Fix Environmental Services  437,803  994 
  Lawson Products Inc.  55,495  979 
*  Hurco Cos. Inc.  66,089  978 
*  Kratos Defense & Security Solutions Inc.  89,088  940 
*  Plug Power Inc.  1,306,085  927 
*  Rush Enterprises Inc. Class B  88,165  926 
*  Flanders Corp.  207,422  925 
*  Trimas Corp.  134,435  910 
*  USA Truck Inc.  71,783  899 
*  Innovative Solutions & Support Inc.  194,628  893 
*  LMI Aerospace Inc.  66,699  887 
*  Hill International Inc.  135,478  845 
  VSE Corp.  18,692  843 
*  PowerSecure International Inc.  109,553  790 
  Multi-Color Corp.  63,726  778 
*  Odyssey Marine Exploration Inc.  547,645  772 
*  Magnetek Inc.  501,215  772 


Vanguard® Total Stock Market Index Fund
Schedule of Investments
December 31, 2009

      Market 
      Value 
    Shares  ($000) 
*  Ultralife Corp.  176,784  764 
*  Air Transport Services Group Inc.  282,686  746 
*  Fushi Copperweld Inc.  72,109  730 
  Chase Corp.  61,581  727 
  Standard Register Co.  135,946  693 
*  Satcon Technology Corp.  245,600  693 
*  Commercial Vehicle Group Inc.  114,134  684 
*  DXP Enterprises Inc.  52,200  682 
*  Integrated Electrical Services Inc.  111,572  653 
  American Railcar Industries Inc.  58,551  645 
*  United Capital Corp.  27,001  643 
*  PAM Transportation Services Inc.  61,408  634 
*  SL Industries Inc.  72,930  611 
*,^  YRC Worldwide Inc.  721,091  606 
  Frozen Food Express Industries  179,698  593 
  Omega Flex Inc.  41,175  576 
*  Park-Ohio Holdings Corp.  100,993  571 
*  Patriot Transportation Holding Inc.  5,886  556 
  Virco Manufacturing  151,948  555 
*  LECG Corp.  183,446  549 
*  BlueLinx Holdings Inc.  196,332  544 
*  CAI International Inc.  56,691  512 
  LS Starrett Co. Class A  57,983  511 
*  Xerium Technologies Inc.  670,307  509 
*  Intersections Inc.  103,632  508 
*  US Home Systems Inc.  191,499  486 
  Universal Truckload Services Inc.  26,634  482 
*  Allied Defense Group Inc.  99,760  474 
*  Active Power Inc.  414,858  456 
*  TRC Cos. Inc.  151,355  453 
  Preformed Line Products Co.  10,064  441 
*,^  C&D Technologies Inc.  264,606  410 
  Hardinge Inc.  70,340  387 
*  Wabash National Corp.  203,360  384 
*  Protection One Inc.  54,783  353 
  Hubbell Inc. Class A  7,600  344 
*  Raytheon Co. Warrants Exp. 6/16/11  19,938  289 
  Sypris Solutions Inc.  91,591  258 
*  NCI Building Systems Inc.  140,247  254 
*,^  Akeena Solar Inc.  201,393  252 
*  Spire Corp.  46,310  248 
*  Ascent Solar Technologies Inc.  41,015  217 
*,^  Builders FirstSource Inc. Rights Exp. 1/14/10  787,779  193 
*  Document Security Systems Inc.  72,991  179 
*  Argan Inc.  12,349  178 
*  Ceco Environmental Corp.  38,045  150 
*  Amrep Corp.  10,312  141 
*,^  China Architectural Engineering Inc.  129,142  136 
*  Innotrac Corp.  73,881  120 
*  Applied Energetics Inc.  287,190  95 
*  Covenant Transportation Group Inc. Class A  19,665  83 
*,^  Ocean Power Technologies Inc.  6,666  60 
*  ExpressJet Holdings Inc.  10,069  49 
*  Tix Corp.  24,352  42 
*  Key Technology Inc.  3,211  37 
*,^  Hoku Scientific Inc.  11,584  32 
*  Advanced Environmental Recycling Technologies Inc. Class A  78,953  25 
*  AT Cross Co. Class A  3,800  20 
*,^  Arotech Corp.  6,745  11 
*  UTEK Corp.  1,700  7 
*  Thermadyne Holdings Corp.  100  1 
*  PGT Inc.  200  — 
*  BMC Industries Inc.  211,416  — 
      13,117,241 


Vanguard® Total Stock Market Index Fund
Schedule of Investments
December 31, 2009

    Market 
    Value 
  Shares  ($000) 
Information Technology (19.4%)     
Microsoft Corp.  78,539,889  2,394,681 
* Apple Inc.  8,773,159  1,849,908 
International Business Machines Corp.  12,838,138  1,680,512 
* Google Inc. Class A  2,369,751  1,469,198 
* Cisco Systems Inc.  56,487,594  1,352,313 
Hewlett-Packard Co.  23,369,819  1,203,779 
Intel Corp.  54,823,865  1,118,407 
Oracle Corp.  39,292,271  964,232 
QUALCOMM Inc.  16,279,815  753,104 
Visa Inc. Class A  4,506,253  394,117 
* EMC Corp.  19,803,015  345,959 
Texas Instruments Inc.  12,353,724  321,938 
Corning Inc.  15,224,808  293,991 
* eBay Inc.  10,742,007  252,867 
Accenture PLC Class A  6,015,865  249,658 
Mastercard Inc. Class A  966,764  247,472 
* Dell Inc.  17,222,793  247,319 
* Yahoo! Inc.  13,056,951  219,096 
Automatic Data Processing Inc.  4,917,877  210,583 
* Adobe Systems Inc.  5,141,658  189,110 
Applied Materials Inc.  13,055,147  181,989 
Motorola Inc.  22,479,714  174,443 
* Symantec Corp.  7,976,928  142,707 
* Juniper Networks Inc.  5,140,658  137,101 
* Broadcom Corp. Class A  4,274,800  134,442 
* Cognizant Technology Solutions Corp. Class A  2,871,607  130,084 
Western Union Co.  6,880,315  129,694 
* NetApp Inc.  3,298,058  113,420 
Tyco Electronics Ltd.  4,500,230  110,481 
* Marvell Technology Group Ltd.  5,161,884  107,109 
* Agilent Technologies Inc.  3,368,764  104,667 
* NVIDIA Corp.  5,370,079  100,313 
Paychex Inc.  3,188,513  97,696 
* Western Digital Corp.  2,202,343  97,233 
* Intuit Inc.  3,009,042  92,408 
CA Inc.  4,108,533  92,278 
Analog Devices Inc.  2,858,245  90,263 
Seagate Technology  4,858,106  88,369 
* Micron Technology Inc.  8,302,983  87,679 
* Computer Sciences Corp.  1,487,081  85,552 
* Salesforce.com Inc.  1,094,264  80,724 
Amphenol Corp. Class A  1,680,974  77,627 
* Citrix Systems Inc.  1,794,808  74,682 
* Fiserv Inc.  1,513,860  73,392 
Fidelity National Information Services Inc.  3,090,629  72,444 
* BMC Software Inc.  1,804,110  72,345 
Xerox Corp.  8,523,348  72,108 
* Sun Microsystems Inc.  7,393,269  69,275 
Xilinx Inc.  2,708,114  67,865 
Linear Technology Corp.  2,181,604  66,626 
Altera Corp.  2,887,145  65,336 
* SanDisk Corp.  2,228,033  64,591 
* McAfee Inc.  1,541,539  62,540 
* Activision Blizzard Inc.  5,614,303  62,375 
Harris Corp.  1,298,288  61,734 
Maxim Integrated Products Inc.  3,003,402  60,969 
KLA-Tencor Corp.  1,674,029  60,533 
* Flextronics International Ltd.  7,954,855  58,150 
* Autodesk Inc.  2,253,188  57,253 
* Red Hat Inc.  1,844,383  56,991 
* Electronic Arts Inc.  3,174,473  56,347 
* Advanced Micro Devices Inc.  5,571,993  53,937 
* Cree Inc.  947,503  53,411 


Vanguard® Total Stock Market Index Fund
Schedule of Investments
December 31, 2009

      Market 
      Value 
    Shares  ($000) 
*  Affiliated Computer Services Inc. Class A  893,261  53,319 
*  Teradata Corp.  1,685,379  52,971 
  Microchip Technology Inc.  1,794,918  52,160 
*  Lam Research Corp.  1,243,398  48,754 
*  FLIR Systems Inc.  1,485,194  48,596 
*  VeriSign Inc.  1,891,454  45,849 
*  Avnet Inc.  1,481,854  44,693 
*  Akamai Technologies Inc.  1,690,671  42,825 
  Global Payments Inc.  792,013  42,658 
*  F5 Networks Inc.  772,575  40,931 
*  Equinix Inc.  378,928  40,223 
*  LSI Corp.  6,404,226  38,489 
  Lender Processing Services Inc.  943,983  38,382 
*  SAIC Inc.  2,001,663  37,911 
*  ANSYS Inc.  864,878  37,588 
  National Semiconductor Corp.  2,321,064  35,652 
*  Arrow Electronics Inc.  1,175,192  34,797 
*  Hewitt Associates Inc. Class A  821,710  34,725 
*  ON Semiconductor Corp.  3,938,814  34,701 
*  Sybase Inc.  794,448  34,479 
*,^  Alliance Data Systems Corp.  522,132  33,724 
*  Rovi Corp.  997,668  31,796 
*  Synopsys Inc.  1,417,984  31,593 
  Jabil Circuit Inc.  1,782,453  30,961 
  Broadridge Financial Solutions Inc.  1,368,771  30,879 
*  Nuance Communications Inc.  1,983,009  30,816 
*  MEMC Electronic Materials Inc.  2,196,758  29,920 
*  Brocade Communications Systems Inc.  3,905,554  29,799 
*  Trimble Navigation Ltd.  1,176,226  29,641 
  Factset Research Systems Inc.  439,751  28,966 
*  3Com Corp.  3,839,236  28,794 
  Total System Services Inc.  1,643,199  28,378 
*  Itron Inc.  392,675  26,533 
*  Varian Semiconductor Equipment Associates Inc.  721,192  25,876 
*  Ingram Micro Inc.  1,440,979  25,145 
*  Dolby Laboratories Inc. Class A  521,261  24,880 
*  AOL Inc.  1,056,731  24,601 
*  MICROS Systems Inc.  789,655  24,503 
*  CommScope Inc.  918,892  24,378 
*  Skyworks Solutions Inc.  1,681,956  23,867 
*  Rambus Inc.  977,920  23,861 
  Solera Holdings Inc.  648,730  23,361 
*  Tech Data Corp.  493,733  23,038 
*  VistaPrint NV  399,666  22,645 
*  Informatica Corp.  870,030  22,499 
*  Novellus Systems Inc.  960,037  22,407 
*  VMware Inc. Class A  520,998  22,080 
*  QLogic Corp.  1,161,721  21,922 
*  Atheros Communications Inc.  621,188  21,269 
*  Tellabs Inc.  3,692,589  20,974 
*  Polycom Inc.  825,904  20,623 
*  Silicon Laboratories Inc.  418,157  20,214 
*  Lexmark International Inc. Class A  768,887  19,976 
*  Atmel Corp.  4,216,505  19,438 
*  IAC/InterActiveCorp  942,222  19,297 
*  PMC - Sierra Inc.  2,213,492  19,169 
*  Parametric Technology Corp.  1,141,862  18,658 
  Diebold Inc.  652,168  18,554 
*,^  WebMD Health Corp.  480,901  18,510 
  Intersil Corp. Class A  1,205,040  18,485 
*  Teradyne Inc.  1,719,557  18,451 
  Jack Henry & Associates Inc.  786,994  18,195 
*  NCR Corp.  1,564,086  17,408 
*  Concur Technologies Inc.  407,206  17,408 


Vanguard® Total Stock Market Index Fund
Schedule of Investments
December 31, 2009

      Market 
      Value 
    Shares  ($000) 
*  Sohu.com Inc.  301,979  17,297 
*  JDS Uniphase Corp.  2,089,719  17,240 
*  DST Systems Inc.  391,737  17,060 
*  Compuware Corp.  2,340,296  16,920 
  National Instruments Corp.  573,535  16,891 
*  NeuStar Inc. Class A  731,549  16,855 
*  TIBCO Software Inc.  1,720,953  16,573 
*  Zebra Technologies Corp.  582,177  16,511 
*  Cypress Semiconductor Corp.  1,518,667  16,037 
*  Unisys Corp.  414,628  15,988 
*  Cadence Design Systems Inc.  2,615,619  15,668 
*  International Rectifier Corp.  698,541  15,452 
  Molex Inc.  708,627  15,271 
*,^  Palm Inc.  1,517,926  15,240 
*  CACI International Inc. Class A  294,381  14,381 
*  Microsemi Corp.  800,394  14,207 
*  Vishay Intertechnology Inc.  1,696,674  14,167 
*  Novell Inc.  3,385,974  14,052 
*  Arris Group Inc.  1,228,166  14,038 
*  Anixter International Inc.  294,290  13,861 
*  Blackboard Inc.  300,059  13,620 
*  Gartner Inc.  754,639  13,614 
*  MercadoLibre Inc.  259,464  13,458 
*  Cybersource Corp.  649,189  13,055 
*  Convergys Corp.  1,205,836  12,963 
  ADTRAN Inc.  557,522  12,572 
*  Riverbed Technology Inc.  546,474  12,552 
  Plantronics Inc.  480,296  12,478 
*  VeriFone Holdings Inc.  750,131  12,287 
*  Veeco Instruments Inc.  371,198  12,264 
*  Fairchild Semiconductor International Inc. Class A  1,222,427  12,212 
*  Benchmark Electronics Inc.  637,985  12,064 
  Molex Inc. Class A  624,075  11,939 
*  RF Micro Devices Inc.  2,494,775  11,900 
*  Progress Software Corp.  393,672  11,499 
*  Wright Express Corp.  357,202  11,380 
*  Tessera Technologies Inc.  487,025  11,333 
*  InterDigital Inc.  424,837  11,275 
*  Quest Software Inc.  607,272  11,174 
*  Blue Coat Systems Inc.  389,974  11,130 
*  Plexus Corp.  389,768  11,108 
*  Genpact Ltd.  743,444  11,077 
*  Ariba Inc.  873,644  10,938 
*  TiVo Inc.  1,064,627  10,838 
*  Cymer Inc.  279,112  10,712 
*  Integrated Device Technology Inc.  1,635,206  10,580 
*  FormFactor Inc.  485,074  10,555 
*  Mantech International Corp. Class A  216,222  10,439 
*,^  Synaptics Inc.  334,281  10,246 
  Fair Isaac Corp.  479,830  10,225 
*  Digital River Inc.  378,821  10,224 
  Blackbaud Inc.  432,457  10,219 
*  Semtech Corp.  600,209  10,210 
*  Rackspace Hosting Inc.  478,077  9,968 
*  Acxiom Corp.  740,798  9,942 
*  Euronet Worldwide Inc.  449,300  9,862 
*  GSI Commerce Inc.  388,339  9,860 
*  Comtech Telecommunications Corp.  278,098  9,747 
*  Ciena Corp.  895,955  9,712 
  Power Integrations Inc.  262,029  9,527 
  Syntel Inc.  244,557  9,300 
*  CommVault Systems Inc.  389,184  9,220 
*  Tekelec  593,585  9,070 
*  j2 Global Communications Inc.  443,789  9,031 


Vanguard® Total Stock Market Index Fund
Schedule of Investments
December 31, 2009

      Market 
      Value 
    Shares  ($000) 
*  TeleTech Holdings Inc.  446,544  8,944 
*  AsiaInfo Holdings Inc.  292,643  8,917 
*  TriQuint Semiconductor Inc.  1,485,897  8,915 
*  Viasat Inc.  279,486  8,882 
*  Cavium Networks Inc.  368,464  8,780 
  Earthlink Inc.  1,048,769  8,715 
*  Emulex Corp.  798,097  8,699 
  MAXIMUS Inc.  173,828  8,691 
*  FEI Co.  371,130  8,670 
*  ValueClick Inc.  855,750  8,660 
*  Netlogic Microsystems Inc.  186,176  8,612 
*  Sapient Corp.  1,040,696  8,607 
*  JDA Software Group Inc.  333,479  8,494 
*  MicroStrategy Inc. Class A  90,250  8,485 
*  Lawson Software Inc.  1,274,373  8,475 
*  Amkor Technology Inc.  1,174,070  8,406 
*  Mentor Graphics Corp.  949,283  8,382 
*  Avago Technologies Ltd.  447,870  8,192 
*  SRA International Inc. Class A  428,775  8,190 
*  Websense Inc.  461,274  8,054 
*  MKS Instruments Inc.  460,316  8,014 
*  EchoStar Corp. Class A  392,306  7,901 
*,^  Take-Two Interactive Software Inc.  784,502  7,884 
*  Verigy Ltd.  608,610  7,833 
*  Sanmina-SCI Corp.  708,741  7,817 
*  Ultimate Software Group Inc.  261,270  7,673 
*  Hittite Microwave Corp.  186,341  7,593 
*  Cabot Microelectronics Corp.  229,499  7,564 
*  Infinera Corp.  851,630  7,554 
*  Coherent Inc.  250,734  7,454 
*  Monolithic Power Systems Inc.  308,275  7,389 
*  L-1 Identity Solutions Inc.  972,940  7,287 
*,^  Advent Software Inc.  177,396  7,225 
*  Omnivision Technologies Inc.  486,794  7,073 
*  DealerTrack Holdings Inc.  373,707  7,022 
*  Intermec Inc.  541,169  6,959 
*  Scansource Inc.  260,557  6,957 
*  Taleo Corp. Class A  291,667  6,860 
*  Zoran Corp.  618,476  6,834 
*  Netgear Inc.  311,177  6,749 
  Cognex Corp.  377,263  6,685 
*  TTM Technologies Inc.  577,780  6,662 
*,^  STEC Inc.  392,182  6,408 
*  Sonus Networks Inc.  2,979,822  6,287 
*  Tyler Technologies Inc.  315,030  6,272 
*  DTS Inc.  180,996  6,192 
*  Manhattan Associates Inc.  255,487  6,139 
*  Net 1 UEPS Technologies Inc.  315,605  6,129 
*  CSG Systems International Inc.  320,244  6,113 
*  Littelfuse Inc.  188,593  6,063 
*  Rofin-Sinar Technologies Inc.  255,576  6,034 
*  SuccessFactors Inc.  363,676  6,030 
*  THQ Inc.  1,193,387  6,015 
*  Brooks Automation Inc.  695,428  5,967 
*  ACI Worldwide Inc.  341,629  5,859 
*  Entegris Inc.  1,083,965  5,723 
*  ADC Telecommunications Inc.  917,734  5,699 
*  Checkpoint Systems Inc.  373,509  5,696 
*  Global Cash Access Holdings Inc.  758,476  5,681 
*  Rogers Corp.  185,983  5,637 
*  Diodes Inc.  273,458  5,592 
  AVX Corp.  437,082  5,538 
*  Aruba Networks Inc.  518,867  5,531 
*  Harmonic Inc.  868,736  5,499 


Vanguard® Total Stock Market Index Fund
Schedule of Investments
December 31, 2009

      Market 
      Value 
    Shares  ($000) 
*  ATMI Inc.  292,193  5,441 
*  SolarWinds Inc.  234,900  5,405 
*  TNS Inc.  206,895  5,315 
*  Brightpoint Inc.  722,866  5,313 
  Black Box Corp.  187,368  5,310 
*  Volterra Semiconductor Corp.  276,586  5,288 
*  Maxwell Technologies Inc.  294,314  5,251 
*  3PAR Inc.  442,316  5,241 
*  Electronics for Imaging Inc.  402,214  5,233 
  United Online Inc.  726,619  5,224 
*  Art Technology Group Inc.  1,135,363  5,120 
*  OSI Systems Inc.  181,767  4,959 
*  Cirrus Logic Inc.  720,975  4,917 
*  Loral Space & Communications Inc.  155,321  4,910 
*  RightNow Technologies Inc.  281,095  4,883 
*  Quantum Corp.  1,647,802  4,828 
*  Advanced Energy Industries Inc.  320,156  4,828 
*  Insight Enterprises Inc.  414,210  4,730 
*  SYNNEX Corp.  154,007  4,722 
*  SMART Modular Technologies WWH Inc.  746,370  4,695 
*  ModusLink Global Solutions Inc.  492,342  4,633 
  Park Electrochemical Corp.  164,571  4,549 
*  SAVVIS Inc.  323,178  4,541 
*  Bottomline Technologies Inc.  253,532  4,455 
  Micrel Inc.  536,418  4,399 
*  TeleCommunication Systems Inc. Class A  453,623  4,391 
*  DG FastChannel Inc.  156,977  4,384 
*  RealNetworks Inc.  1,165,656  4,325 
*  Avid Technology Inc.  337,752  4,310 
*  Cogent Inc.  411,992  4,281 
  Pegasystems Inc.  122,569  4,167 
*,^  Finisar Corp.  461,086  4,113 
*  Epicor Software Corp.  535,538  4,081 
*  Echelon Corp.  350,328  4,050 
*  Applied Micro Circuits Corp.  541,265  4,043 
*  Harris Stratex Networks Inc.  578,741  3,999 
*  S1 Corp.  610,216  3,979 
*  Ultratech Inc.  267,603  3,977 
*  ExlService Holdings Inc.  218,743  3,972 
*  Sycamore Networks Inc.  188,458  3,941 
*  SonicWALL Inc.  517,179  3,936 
*  Constant Contact Inc.  243,221  3,892 
*  Standard Microsystems Corp.  186,417  3,874 
*  EPIQ Systems Inc.  275,517  3,854 
*  Synchronoss Technologies Inc.  243,516  3,850 
*  Compellent Technologies Inc.  169,560  3,846 
*  Forrester Research Inc.  148,137  3,844 
  MTS Systems Corp.  133,076  3,825 
*  Smith Micro Software Inc.  413,252  3,777 
*  KVH Industries Inc.  253,051  3,732 
  NIC Inc.  401,995  3,674 
*  Knot Inc.  356,991  3,595 
*,^  Stratasys Inc.  205,546  3,552 
*  Lattice Semiconductor Corp.  1,308,026  3,532 
*  LTX-Credence Corp.  1,981,802  3,528 
*  Switch & Data Facilities Co. Inc.  172,077  3,478 
*  Netscout Systems Inc.  237,422  3,476 
*  Newport Corp.  375,750  3,453 
*  comScore Inc.  196,440  3,448 
*  Sigma Designs Inc.  321,837  3,444 
  Heartland Payment Systems Inc.  257,793  3,385 
*  Adaptec Inc.  982,249  3,291 
*  Terremark Worldwide Inc.  477,472  3,266 
  iGate Corp.  323,631  3,236 


Vanguard® Total Stock Market Index Fund
Schedule of Investments
December 31, 2009

      Market 
      Value 
    Shares  ($000) 
*  Ixia  434,643  3,234 
*  Infospace Inc.  371,849  3,187 
*  Universal Display Corp.  257,819  3,187 
*  NVE Corp.  76,665  3,167 
*  Netezza Corp.  323,903  3,142 
*  Internet Capital Group Inc.  470,978  3,132 
*  FARO Technologies Inc.  145,323  3,116 
*  Sonic Solutions Inc.  259,949  3,075 
*  Kopin Corp.  730,814  3,055 
*  Utstarcom Inc.  1,389,207  3,042 
*  Supertex Inc.  101,554  3,026 
*  Kulicke & Soffa Industries Inc.  559,940  3,018 
*  Oplink Communications Inc.  183,863  3,014 
  Agilysys Inc.  329,171  2,995 
*  Imation Corp.  343,317  2,994 
*  Mercury Computer Systems Inc.  267,550  2,946 
*  Sourcefire Inc.  108,559  2,904 
*  Novatel Wireless Inc.  361,238  2,879 
*  ArcSight Inc.  112,445  2,876 
*  Electro Scientific Industries Inc.  263,669  2,853 
*  Silicon Image Inc.  1,099,522  2,837 
*  Move Inc.  1,691,839  2,808 
*  Symmetricom Inc.  532,064  2,767 
*  Kenexa Corp.  210,656  2,749 
*  Symyx Technologies Inc.  491,607  2,704 
*  Extreme Networks  927,824  2,663 
*  Silicon Storage Technology Inc.  1,031,702  2,641 
*  Online Resources Corp.  501,455  2,638 
*  LoopNet Inc.  262,647  2,611 
*  PROS Holdings Inc.  250,908  2,597 
*  Comverge Inc.  229,617  2,581 
*,^  Ebix Inc.  52,837  2,580 
*  i2 Technologies Inc.  134,500  2,572 
*  IPG Photonics Corp.  152,985  2,561 
*,^  China Security & Surveillance Technology Inc.  328,730  2,511 
  Daktronics Inc.  270,272  2,489 
*  Globecomm Systems Inc.  318,060  2,487 
*  LivePerson Inc.  355,854  2,480 
*  Actel Corp.  206,908  2,458 
  CTS Corp.  251,774  2,422 
*  Pericom Semiconductor Corp.  205,170  2,366 
*  Limelight Networks Inc.  596,989  2,346 
*  Hypercom Corp.  726,295  2,302 
*  Measurement Specialties Inc.  226,519  2,277 
*  Anadigics Inc.  534,967  2,258 
*,^  Magma Design Automation Inc.  976,995  2,257 
*  Exar Corp.  309,466  2,200 
*  Intevac Inc.  191,698  2,199 
*  Openwave Systems Inc.  954,272  2,176 
*  Vocus Inc.  119,812  2,157 
*  infoGROUP Inc.  268,695  2,155 
*  Rimage Corp.  123,580  2,143 
*  Ceva Inc.  162,897  2,095 
*  Multi-Fineline Electronix Inc.  73,827  2,094 
*  Integrated Silicon Solution Inc.  370,016  2,091 
*  Internet Brands Inc. Class A  266,184  2,084 
*  IXYS Corp.  280,174  2,079 
  Methode Electronics Inc.  239,243  2,077 
*  Acme Packet Inc.  188,283  2,071 
*  Anaren Inc.  136,822  2,059 
  Bel Fuse Inc. Class B  94,672  2,034 
*  Cogo Group Inc.  274,814  2,025 
*  Oclaro Inc.  1,369,079  2,013 
*  Digi International Inc.  217,878  1,987 


Vanguard® Total Stock Market Index Fund
Schedule of Investments
December 31, 2009

      Market 
      Value 
    Shares  ($000) 
*  Hughes Communications Inc.  76,279  1,986 
*  Advanced Analogic Technologies Inc.  501,910  1,978 
*  GSE Systems Inc.  360,142  1,974 
*  Techwell Inc.  148,011  1,954 
*  Lionbridge Technologies Inc.  830,970  1,911 
*  EMS Technologies Inc.  130,881  1,898 
*  VASCO Data Security International Inc.  300,390  1,883 
*  Radisys Corp.  196,676  1,878 
*  Monotype Imaging Holdings Inc.  204,850  1,850 
  Electro Rent Corp.  159,479  1,840 
*  Interactive Intelligence Inc.  98,897  1,824 
*,^  Rubicon Technology Inc.  89,482  1,817 
*  Radiant Systems Inc.  172,710  1,796 
*  Hutchinson Technology Inc.  174,519  1,791 
*  Seachange International Inc.  272,145  1,788 
  Cohu Inc.  127,851  1,784 
*  MIPS Technologies Inc. Class A  404,721  1,769 
  Opnet Technologies Inc.  143,661  1,751 
*  Silicon Graphics International Corp.  248,333  1,741 
*  Mattson Technology Inc.  481,016  1,722 
*  MoneyGram International Inc.  590,206  1,700 
*  support.com Inc.  636,330  1,680 
*  ShoreTel Inc.  286,676  1,657 
*  Web.com Group Inc.  245,686  1,604 
*  Integral Systems Inc.  183,594  1,590 
*  Conexant Systems Inc.  684,354  1,588 
*  Perficient Inc.  188,293  1,587 
*  Super Micro Computer Inc.  141,561  1,574 
  Keynote Systems Inc.  143,061  1,561 
*  Virage Logic Corp.  282,121  1,552 
*  Gerber Scientific Inc.  305,370  1,542 
*  Dynamics Research Corp.  144,079  1,529 
*  FalconStor Software Inc.  376,484  1,529 
*  NetSuite Inc.  95,581  1,527 
*  DivX Inc.  270,673  1,527 
*  Travelzoo Inc.  123,120  1,513 
*  Ciber Inc.  433,814  1,497 
*  Isilon Systems Inc.  212,561  1,458 
*  Mindspeed Technologies Inc.  308,306  1,446 
*  Photronics Inc.  324,071  1,442 
*  Double-Take Software Inc.  144,035  1,439 
  Technitrol Inc.  328,247  1,438 
*  Telular Corp.  381,441  1,430 
  Renaissance Learning Inc.  120,082  1,364 
*  DemandTec Inc.  155,462  1,363 
*  Rudolph Technologies Inc.  202,447  1,360 
*  Ultra Clean Holdings  193,040  1,349 
*  StarTek Inc.  177,188  1,325 
*  DSP Group Inc.  234,691  1,321 
*  Geeknet Inc.  1,077,805  1,283 
*  LeCroy Corp.  350,863  1,281 
*  California Micro Devices Corp.  269,537  1,270 
*  NCI Inc. Class A  45,587  1,260 
*  BigBand Networks Inc.  365,672  1,258 
*,^  Zix Corp.  706,486  1,208 
  Cass Information Systems Inc.  39,699  1,207 
*  Cray Inc.  187,483  1,204 
  American Software Inc. Class A  200,486  1,203 
*  MoSys Inc.  305,390  1,197 
  Imergent Inc.  197,173  1,197 
*  Airvana Inc.  157,061  1,194 
  Marchex Inc. Class B  231,114  1,174 
*  SRS Labs Inc.  158,866  1,164 
*  Trident Microsystems Inc.  616,190  1,146 


Vanguard® Total Stock Market Index Fund
Schedule of Investments
December 31, 2009

      Market 
      Value 
    Shares  ($000) 
*  Ness Technologies Inc.  233,859  1,146 
*  NU Horizons Electronics Corp.  277,427  1,143 
*  Spectrum Control Inc.  120,565  1,142 
*,^  Emcore Corp.  1,044,387  1,117 
*  Computer Task Group Inc.  138,086  1,106 
*  LaserCard Corp.  187,966  1,085 
*  Saba Software Inc.  261,157  1,081 
*  Internap Network Services Corp.  228,335  1,073 
*  Liquidity Services Inc.  104,674  1,054 
*  DDi Corp.  215,477  1,054 
*  PC-Tel Inc.  174,581  1,034 
*  Hackett Group Inc.  370,798  1,031 
*  Transact Technologies Inc.  147,747  1,025 
*  Actuate Corp.  237,495  1,016 
*  Orbcomm Inc.  375,812  1,015 
*  Pervasive Software Inc.  207,614  1,001 
*  Chordiant Software Inc.  356,259  980 
*  Zygo Corp.  139,138  936 
  QAD Inc.  151,091  923 
*  White Electronic Designs Corp.  197,398  922 
  TheStreet.com Inc.  384,051  922 
  Richardson Electronics Ltd.  156,536  919 
*  Tollgrade Communications Inc.  140,898  861 
*  Microtune Inc.  378,848  856 
*  LoJack Corp.  210,416  850 
*  Powerwave Technologies Inc.  659,905  831 
*  RAE Systems Inc.  752,576  828 
*  PC Mall Inc.  155,036  809 
*  Concurrent Computer Corp.  202,052  808 
*,^  Rosetta Stone Inc.  44,100  792 
*  PC Connection Inc.  116,682  788 
*  PAR Technology Corp.  136,040  786 
*  PLX Technology Inc.  236,468  764 
*  Axcelis Technologies Inc.  541,562  764 
  Keithley Instruments Inc.  160,382  746 
*  OpenTable Inc.  29,286  746 
*  Network Equipment Technologies Inc.  182,244  738 
*  Datalink Corp.  169,522  734 
*  Immersion Corp.  159,031  727 
*  Nanometrics Inc.  63,769  722 
*  X-Rite Inc.  319,815  697 
*  Phoenix Technologies Ltd.  253,105  696 
*  TechTeam Global Inc.  90,812  691 
*,^  On2 Technologies Inc.  1,106,806  675 
*  Entropic Communications Inc.  219,186  673 
*  China Information Security Technology Inc.  109,063  672 
*,^  Wave Systems Corp. Class A  469,391  667 
  Ipass Inc.  625,326  650 
*  Cyberoptics Corp.  95,662  642 
*  Aware Inc.  223,397  626 
*  Ramtron International Corp.  350,700  621 
*  CalAmp Corp.  178,061  613 
*  QuickLogic Corp.  289,381  611 
*  Opnext Inc.  321,034  610 
*  Evolving Systems Inc.  97,017  606 
*,^  Research Frontiers Inc.  154,646  586 
*  Edgewater Technology Inc.  170,656  512 
*,^  Parkervision Inc.  272,455  499 
*  PLATO Learning Inc.  112,028  488 
*  PDF Solutions Inc.  125,033  481 
*  Callidus Software Inc.  158,993  480 
*  Rainmaker Systems Inc.  318,962  475 
*  Tier Technologies Inc. Class B  59,360  475 
*  Performance Technologies Inc.  163,552  456 


Vanguard® Total Stock Market Index Fund
Schedule of Investments
December 31, 2009

      Market 
      Value 
    Shares  ($000) 
*  Presstek Inc.  209,732  447 
*  Planar Systems Inc.  148,136  422 
*  Bsquare Corp.  161,829  401 
*  FSI International Inc.  135,677  399 
*  Market Leader Inc.  187,002  393 
*  Dice Holdings Inc.  57,706  378 
*  ID Systems Inc.  105,365  341 
*  Network Engines Inc.  254,385  341 
*  CPI International Inc.  25,384  336 
*  Pixelworks Inc.  108,894  331 
*  Frequency Electronics Inc.  63,789  328 
*  Transwitch Corp.  155,455  326 
*  Ditech Networks Inc.  240,802  311 
*  EF Johnson Technologies Inc.  268,522  298 
*  ActivIdentity Corp.  114,845  270 
*  American Technology Corp.  179,597  266 
*  Comarco Inc.  95,910  259 
*  iGO Inc.  197,191  243 
*  Intellicheck Mobilisa Inc.  62,601  235 
*  Virtusa Corp.  25,031  227 
*  Video Display Corp.  48,565  221 
*  Merix Corp.  85,484  209 
  Bel Fuse Inc. Class A  10,580  206 
*  AuthenTec Inc.  91,417  202 
  Newtek Business Services Inc.  201,851  200 
*  WebMediaBrands Inc.  217,997  196 
*  GTSI Corp.  36,549  182 
*  Looksmart Ltd.  173,418  177 
*  Cinedigm Digital Cinema Corp. Class A  137,179  170 
*  SCM Microsystems Inc.  75,032  170 
*  Ikanos Communications Inc.  84,319  158 
*  Autobytel Inc.  150,687  151 
*  Zhone Technologies Inc.  364,247  149 
*  Authentidate Holding Corp.  130,657  137 
*,^  VirnetX Holding Corp.  40,731  120 
*  Guidance Software Inc.  21,860  115 
*  Deltek Inc.  13,311  104 
*  NaviSite Inc.  51,597  103 
*  Analysts International Corp.  148,261  99 
*  Lantronix Inc.  30,440  99 
*  EndWave Corp.  40,221  98 
  Selectica Inc.  335,788  78 
*  Convera Corp. Class A  309,351  75 
*  Wireless Telecom Group Inc.  98,580  70 
*  Westell Technologies Inc. Class A  54,988  66 
*  Dot Hill Systems Corp.  33,936  64 
*  Vertro Inc.  139,637  59 
*  Management Network Group Inc.  126,767  53 
*  Henry Bros Electronics Inc.  9,700  42 
*  Allen Organ Co. Escrow Shares  11,462  34 
*  AXT Inc.  8,500  28 
*  Digital Angel Corp.  31,230  24 
*  ICx Technologies Inc.  2,289  22 
*  Nextwave Wireless Inc.  48,361  21 
*  Unica Corp.  2,700  21 
*  TechTarget Inc.  2,580  15 
*  Superconductor Technologies Inc.  4,351  10 
*  Veraz Networks Inc.  3,828  4 
*  Information Services Group Inc.  688  2 
      23,312,363 
Materials (3.9%)     
  Monsanto Co.  5,346,489  437,075 
*  Freeport-McMoRan Copper & Gold Inc.  4,032,964  323,807 
  Dow Chemical Co.  11,200,061  309,458 


Vanguard® Total Stock Market Index Fund
Schedule of Investments
December 31, 2009

    Market 
    Value 
  Shares  ($000) 
EI du Pont de Nemours & Co.  8,849,494  297,962 
Praxair Inc.  3,004,689  241,307 
Newmont Mining Corp.  4,698,158  222,270 
Air Products & Chemicals Inc.  2,059,149  166,915 
Alcoa Inc.  9,542,488  153,825 
Nucor Corp.  3,081,789  143,765 
International Paper Co.  4,030,035  107,924 
Ecolab Inc.  2,323,345  103,575 
PPG Industries Inc.  1,616,506  94,630 
Mosaic Co.  1,526,591  91,183 
Weyerhaeuser Co.  2,071,959  89,384 
United States Steel Corp.  1,406,178  77,509 
Vulcan Materials Co.  1,226,074  64,577 
Sigma-Aldrich Corp.  1,195,625  60,415 
Cliffs Natural Resources Inc.  1,285,115  59,231 
* Owens-Illinois Inc.  1,652,108  54,305 
Lubrizol Corp.  663,700  48,417 
MeadWestvaco Corp.  1,679,980  48,098 
Ball Corp.  876,983  45,340 
Celanese Corp. Class A  1,407,907  45,194 
Eastman Chemical Co.  712,864  42,943 
CF Industries Holdings Inc.  451,842  41,018 
* Crown Holdings Inc.  1,571,463  40,198 
Walter Energy Inc.  519,236  39,104 
Martin Marietta Materials Inc.  437,255  39,095 
Allegheny Technologies Inc.  866,668  38,801 
FMC Corp.  676,138  37,701 
Nalco Holding Co.  1,356,724  34,610 
Airgas Inc.  723,348  34,431 
Sealed Air Corp.  1,559,192  34,084 
Steel Dynamics Inc.  1,901,919  33,702 
International Flavors & Fragrances Inc.  775,616  31,909 
Terra Industries Inc.  979,085  31,517 
Bemis Co. Inc.  1,059,759  31,422 
* Pactiv Corp.  1,296,479  31,297 
Sonoco Products Co.  981,571  28,711 
Reliance Steel & Aluminum Co.  649,772  28,083 
Ashland Inc.  694,020  27,497 
Albemarle Corp.  718,127  26,118 
RPM International Inc.  1,268,911  25,797 
Valspar Corp.  938,415  25,469 
Aptargroup Inc.  664,905  23,764 
Packaging Corp. of America  1,012,444  23,296 
AK Steel Holding Corp.  1,075,742  22,967 
* Domtar Corp.  411,680  22,811 
Compass Minerals International Inc.  320,438  21,530 
Temple-Inland Inc.  994,818  21,001 
Huntsman Corp.  1,635,224  18,462 
Rock-Tenn Co. Class A  360,779  18,187 
* WR Grace & Co.  710,479  18,011 
Royal Gold Inc.  381,417  17,965 
Scotts Miracle-Gro Co. Class A  453,011  17,808 
Cytec Industries Inc.  477,083  17,375 
Commercial Metals Co.  1,107,511  17,333 
Cabot Corp.  641,290  16,821 
Silgan Holdings Inc.  262,169  15,174 
* Solutia Inc.  1,168,313  14,838 
* Hecla Mining Co.  2,331,797  14,411 
* Titanium Metals Corp.  1,150,923  14,410 
NewMarket Corp.  120,078  13,781 
Olin Corp.  769,373  13,479 
* Coeur d'Alene Mines Corp.  742,915  13,417 
* Intrepid Potash Inc.  443,680  12,942 
Greif Inc. Class A  238,879  12,895 


Vanguard® Total Stock Market Index Fund
Schedule of Investments
December 31, 2009

      Market 
      Value 
    Shares  ($000) 
  Sensient Technologies Corp.  478,810  12,593 
  Schweitzer-Mauduit International Inc.  171,597  12,072 
  Carpenter Technology Corp.  432,736  11,662 
  HB Fuller Co.  480,499  10,931 
  Eagle Materials Inc.  406,622  10,593 
  Schnitzer Steel Industries Inc.  216,682  10,336 
*  Rockwood Holdings Inc.  438,315  10,327 
  Minerals Technologies Inc.  185,292  10,093 
*  OM Group Inc.  303,748  9,535 
*  Allied Nevada Gold Corp.  608,858  9,182 
*  PolyOne Corp.  1,164,766  8,701 
*  Louisiana-Pacific Corp.  1,213,023  8,467 
*  Century Aluminum Co.  508,463  8,232 
  Worthington Industries Inc.  625,873  8,180 
  Texas Industries Inc.  232,471  8,134 
  Arch Chemicals Inc.  238,673  7,370 
*  Calgon Carbon Corp.  509,857  7,087 
  AMCOL International Corp.  242,685  6,897 
*  RTI International Metals Inc.  264,599  6,660 
  Kaiser Aluminum Corp.  149,646  6,228 
*  Stillwater Mining Co.  646,103  6,125 
  Balchem Corp.  177,982  5,964 
  Deltic Timber Corp.  122,752  5,669 
  Wausau Paper Corp.  477,307  5,537 
  Glatfelter  445,771  5,416 
*  Horsehead Holding Corp.  414,695  5,287 
  Ferro Corp.  638,017  5,257 
*  Omnova Solutions Inc.  854,710  5,239 
*  Clearwater Paper Corp.  94,157  5,176 
  Koppers Holdings Inc.  157,801  4,803 
  Stepan Co.  74,051  4,799 
  A Schulman Inc.  222,108  4,482 
  Olympic Steel Inc.  131,566  4,286 
*  Graphic Packaging Holding Co.  1,152,513  3,999 
*  Buckeye Technologies Inc.  409,032  3,992 
  Westlake Chemical Corp.  147,047  3,666 
  Innophos Holdings Inc.  156,946  3,608 
  Zep Inc.  207,353  3,591 
  Haynes International Inc.  108,364  3,573 
  Spartech Corp.  310,950  3,190 
*  Brush Engineered Materials Inc.  167,585  3,107 
*  AEP Industries Inc.  78,834  3,018 
*  Headwaters Inc.  417,207  2,720 
*,^  Zoltek Cos. Inc.  277,760  2,639 
  Neenah Paper Inc.  169,545  2,365 
  Quaker Chemical Corp.  112,007  2,312 
  Myers Industries Inc.  248,516  2,262 
^  Hawkins Inc.  102,174  2,230 
*  US Gold Corp.  886,796  2,199 
  ICO Inc.  259,338  1,896 
*  Boise Inc.  351,814  1,868 
  Innospec Inc.  184,081  1,857 
  AM Castle & Co.  133,714  1,831 
*  LSB Industries Inc.  107,573  1,517 
*  US Energy Corp. Wyoming  243,408  1,443 
  American Vanguard Corp.  170,533  1,415 
*,^  China Green Agriculture Inc.  95,254  1,400 
*  Landec Corp.  206,842  1,291 
  Penford Corp.  107,302  932 
*  American Pacific Corp.  118,638  919 
*  Universal Stainless & Alloy  48,644  917 
*,^  Altair Nanotechnologies Inc.  1,024,234  901 
  Great Northern Iron Ore Properties  9,328  877 
*  KapStone Paper and Packaging Corp.  87,789  865 


Vanguard® Total Stock Market Index Fund
Schedule of Investments
December 31, 2009

      Market 
      Value 
    Shares  ($000) 
*  Bway Holding Co.  44,433  854 
*  Mercer International Inc.  266,983  822 
*  Ampal American Israel Class A  301,356  814 
*  Senomyx Inc.  198,113  747 
*  General Moly Inc.  353,567  735 
*  United States Lime & Minerals Inc.  20,053  692 
*,^  ShengdaTech Inc.  111,738  685 
*  US Concrete Inc.  524,719  478 
*  Georgia Gulf Corp.  27,198  473 
*  China Direct Industries Inc.  347,442  403 
*  Nanophase Technologies Corp.  326,953  285 
*,^  General Steel Holdings Inc.  56,400  249 
*,^  Flotek Industries Inc.  145,589  195 
*  China Precision Steel Inc.  26,400  54 
*  Rock of Ages Corp.  17,900  53 
*  Continental Materials Corp.  3,500  39 
*  Solitario Exploration & Royalty Corp.  9,300  22 
      4,719,671 
Telecommunication Services (2.9%)     
  AT&T Inc.  57,781,566  1,619,617 
  Verizon Communications Inc.  27,819,530  921,661 
*  American Tower Corp. Class A  3,864,921  167,003 
*  Crown Castle International Corp.  2,855,666  111,485 
  CenturyTel Inc.  2,913,837  105,510 
*  Sprint Nextel Corp.  28,535,908  104,441 
  Qwest Communications International Inc.  15,223,943  64,093 
*  NII Holdings Inc.  1,629,234  54,710 
  Windstream Corp.  4,289,656  47,143 
*  SBA Communications Corp. Class A  1,029,618  35,172 
*  tw telecom inc Class A  1,464,994  25,110 
*  Level 3 Communications Inc.  16,069,432  24,586 
  Frontier Communications Corp.  3,069,765  23,975 
  Telephone & Data Systems Inc.  682,402  23,147 
*  MetroPCS Communications Inc.  2,426,200  18,512 
*  Syniverse Holdings Inc.  643,209  11,243 
*  Leap Wireless International Inc.  608,479  10,679 
  Telephone & Data Systems Inc. - Special Common Shares  276,035  8,336 
*  Cincinnati Bell Inc.  2,240,385  7,729 
*  United States Cellular Corp.  179,395  7,608 
*  AboveNet Inc.  111,998  7,284 
  Iowa Telecommunications Services Inc.  381,438  6,393 
  NTELOS Holdings Corp.  339,417  6,048 
*  Neutral Tandem Inc.  225,038  5,120 
  Shenandoah Telecommunications Co.  227,764  4,635 
*  Premiere Global Services Inc.  552,210  4,556 
  Atlantic Tele-Network Inc.  75,719  4,165 
*  PAETEC Holding Corp.  997,708  4,140 
  Consolidated Communications Holdings Inc.  235,641  4,124 
*  Cogent Communications Group Inc.  340,163  3,354 
  Alaska Communications Systems Group Inc.  390,602  3,117 
*  Cbeyond Inc.  192,259  3,028 
*  Global Crossing Ltd.  206,478  2,942 
  HickoryTech Corp.  258,093  2,279 
*  General Communication Inc. Class A  343,500  2,192 
  USA Mobility Inc.  191,697  2,111 
*,^  Vonage Holdings Corp.  1,212,307  1,697 
*  ICO Global Communications Holdings Ltd.  1,190,602  1,286 
*  SureWest Communications  115,235  1,148 
*,^  8x8 Inc.  727,852  1,099 
  Warwick Valley Telephone Co.  75,230  982 
*,^  TerreStar Corp.  889,716  836 
*  Arbinet Corp.  327,727  813 
*,^  FiberTower Corp.  115,689  484 
*  Globalstar Inc.  438,871  382 


Vanguard® Total Stock Market Index Fund
Schedule of Investments
December 31, 2009

    Market 
    Value 
  Shares  ($000) 
* IDT Corp. Class B  75,185  365 
* IDT Corp.  21,611  82 
    3,466,422 
Utilities (3.8%)     
Exelon Corp.  6,454,777  315,445 
Southern Co.  7,796,144  259,768 
Dominion Resources Inc.  5,829,602  226,888 
Duke Energy Corp.  12,699,473  218,558 
FPL Group Inc.  3,828,259  202,209 
Public Service Enterprise Group Inc.  4,955,390  164,767 
American Electric Power Co. Inc.  4,669,529  162,453 
PG&E Corp.  3,630,380  162,096 
Entergy Corp.  1,917,519  156,930 
FirstEnergy Corp.  2,985,418  138,673 
Sempra Energy  2,284,603  127,892 
Consolidated Edison Inc.  2,697,128  122,531 
PPL Corp.  3,693,447  119,335 
Progress Energy Inc.  2,739,728  112,356 
Edison International  3,036,297  105,602 
Xcel Energy Inc.  4,471,412  94,883 
* AES Corp.  6,538,393  87,026 
Questar Corp.  1,708,695  71,030 
DTE Energy Co.  1,612,727  70,299 
Ameren Corp.  2,291,375  64,044 
Constellation Energy Group Inc.  1,771,217  62,294 
* NRG Energy Inc.  2,602,537  61,446 
Wisconsin Energy Corp.  1,146,626  57,136 
EQT Corp.  1,220,139  53,589 
CenterPoint Energy Inc.  3,603,552  52,288 
Northeast Utilities  1,718,840  44,329 
Oneok Inc.  982,407  43,786 
SCANA Corp.  1,142,643  43,055 
NiSource Inc.  2,700,045  41,527 
MDU Resources Group Inc.  1,715,907  40,495 
Allegheny Energy Inc.  1,663,588  39,061 
NSTAR  1,048,401  38,581 
American Water Works Co. Inc.  1,713,604  38,402 
* Calpine Corp.  3,470,682  38,178 
Pepco Holdings Inc.  2,165,700  36,492 
Pinnacle West Capital Corp.  993,597  36,346 
National Fuel Gas Co.  709,527  35,476 
CMS Energy Corp.  2,248,454  35,211 
OGE Energy Corp.  947,392  34,949 
Alliant Energy Corp.  1,086,757  32,885 
TECO Energy Inc.  1,995,078  32,360 
Integrys Energy Group Inc.  750,963  31,533 
DPL Inc.  1,139,135  31,440 
Energen Corp.  669,304  31,323 
NV Energy Inc.  2,305,539  28,543 
AGL Resources Inc.  759,410  27,696 
Atmos Energy Corp.  906,151  26,641 
UGI Corp.  1,065,074  25,764 
Great Plains Energy Inc.  1,327,979  25,750 
ITC Holdings Corp.  490,878  25,570 
Aqua America Inc.  1,336,497  23,402 
Westar Energy Inc.  1,067,162  23,179 
* Mirant Corp.  1,425,031  21,760 
* RRI Energy Inc.  3,449,217  19,730 
Piedmont Natural Gas Co. Inc.  717,886  19,203 
Hawaiian Electric Industries Inc.  901,446  18,840 
Nicor Inc.  444,969  18,733 
Vectren Corp.  757,757  18,701 
WGL Holdings Inc.  493,991  16,568 
Cleco Corp.  595,481  16,275 


Vanguard® Total Stock Market Index Fund
Schedule of Investments
December 31, 2009

          Market 
          Value 
        Shares  ($000) 
  New Jersey Resources Corp.      414,052  15,486 
  Portland General Electric Co.      738,052  15,064 
  IDACORP Inc.      463,351  14,804 
  Southwest Gas Corp.      441,424  12,594 
  Northwest Natural Gas Co.      261,651  11,785 
  Avista Corp.      537,131  11,597 
  Unisource Energy Corp.      351,210  11,305 
  South Jersey Industries Inc.      292,341  11,162 
  PNM Resources Inc.      852,101  10,779 
  Black Hills Corp.      382,360  10,182 
  Allete Inc.      285,326  9,324 
  NorthWestern Corp.      355,697  9,255 
*  Dynegy Inc. Class A      4,989,770  9,031 
*  El Paso Electric Co.      443,363  8,991 
  Laclede Group Inc.      241,437  8,153 
  MGE Energy Inc.      227,932  8,146 
  Ormat Technologies Inc.      200,986  7,605 
  UIL Holdings Corp.      260,079  7,303 
  California Water Service Group      195,594  7,202 
  CH Energy Group Inc.      150,293  6,390 
  American States Water Co.      172,862  6,121 
  Empire District Electric Co.      322,229  6,035 
  SJW Corp.      154,897  3,496 
  Middlesex Water Co.      191,984  3,385 
  Chesapeake Utilities Corp.      102,352  3,280 
  Connecticut Water Service Inc.      132,401  3,280 
  Central Vermont Public Service Corp.      104,872  2,181 
  Consolidated Water Co. Ltd.      141,391  2,020 
  Unitil Corp.      63,747  1,465 
  York Water Co.      89,559  1,300 
  Southwest Water Co.      217,106  1,279 
  Maine & Maritimes Corp.      29,984  1,043 
*  Cadiz Inc.      50,722  607 
  Artesian Resources Corp. Class A      20,422  374 
*  China Natural Gas Inc.      23,614  263 
  Pennichuck Corp.      11,596  245 
*  Purecycle Corp.      24,735  71 
  RGC Resources Inc.      1,055  31 
*  Synthesis Energy Systems Inc.      33,393  31 
          4,573,987 
 
Total Common Stocks (Cost $121,178,425)        119,811,554 
 
          Market 
          Value 
    Coupon    Shares  ($000) 
 
Convertible Preferred Stocks (0.0%)         
Consumer Discretionary (0.0%)         
2  Sealy Corp. Pfd. (Cost $789)  8.000%    7,216  617 
 
 
Temporary Cash Investments (0.6%)1         
Money Market Fund (0.6%)         
3,4  Vanguard Market Liquidity Fund  0.187%    666,333,103  666,333 
 
 
        Face  Market 
      Maturity  Amount  Value 
    Coupon  Date  ($000)  ($000) 
U.S. Government and Agency Obligations (0.0%)         
5,6  Freddie Mac Discount Notes  0.260%  2/22/10  10,000  9,999 
5,6  Freddie Mac Discount Notes  0.205%  6/2/10  4,000  3,997 


Vanguard® Total Stock Market Index Fund
Schedule of Investments
December 31, 2009

      Face  Market 
    Maturity  Amount  Value 
  Coupon  Date  ($000)  ($000) 
5,6 Freddie Mac Discount Notes  0.230%  6/21/10  7,000  6,993 
        20,989 
Total Temporary Cash Investments (Cost $687,318)        687,322 
Total Investments (100.4%) (Cost $121,866,532)        120,499,493 
Other Assets and Liabilities—Net (-0.4%)4        (486,144) 
Net Assets (100%)        120,013,349 

* Non-income-producing security.
^ Part of security position is on loan to broker-dealers. The total value of securities on loan is $435,174,000.
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 0.4%, respectively, of net
assets.
2 Non-income producing security - new issue that has not paid a dividend as of December 31, 2009.
3 Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by Vanguard. Rate shown is the 7-day
yield.
4 Includes $484,894,000 of collateral received for securities on loan.
5 The issuer operates under a congressional charter; its securities are not backed by the full faith and credit of the U.S. government.
6 Securities with a value of $20,989,000 have been segregated as initial margin for open futures contracts.
REIT—Real Estate Investment Trust.


Report of Independent Registered Public Accounting Firm

To the Trustees of Vanguard Index Funds and the Shareholders of Vanguard Total Stock Market Index Fund:

We have audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States), the financial statements (not presented herein) of Vanguard Total Stock Market Index Fund (constituting a separate portfolio of Vanguard Index Funds, hereafter referred to as the “Fund”) as of December 31, 2009 and for the year then ended and have issued our unqualified report thereon dated February 10, 2010. Our audit included an audit of the Fund’s schedule of investments as of December 31, 2009. This schedule of investments is the responsibility of the Fund’s management. Our responsibility is to express an opinion on this schedule of investments based on our audit.

In our opinion, the accompanying schedule of investments referred to above, when read in conjunction with the financial statements of the Fund referred to above, presents fairly, in all material respects, the information set forth therein.

PricewaterhouseCoopers LLP
Philadelphia, PA
February 10, 2010


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© 2010 Vanguard Group. Inc.
All rights reserved.
Vanguard Marketing Corporation, Distributor.

SNA850 022010


Item 2: Code of Ethics. The Registrant has adopted a code of ethics that applies to the Registrant’s principal executive officer, principal financial officer, principal accounting officer or controller or persons performing similar functions. The Code of Ethics was amended during the reporting period covered by this report to make certain technical, non-material changes.

Item 3: Audit Committee Financial Expert. The following members of the Audit Committee have been determined by the Registrant’s Board of Trustees to be Audit Committee Financial Experts serving on its Audit Committee, and to be independent: Charles D. Ellis, Rajiv L. Gupta, JoAnn Heffernan Heisen, André F. Perold, and Alfred M. Rankin, Jr.

Item 4: Principal Accountant Fees and Services.

(a) Audit Fees.

Audit Fees of the Registrant

Fiscal Year Ended December 31, 2009: $328,000
Fiscal Year Ended December 31, 2008: $324,000

Aggregate Audit Fees of Registered Investment Companies in the Vanguard Group.

Fiscal Year Ended December 31, 2009: $3,354,640
Fiscal Year Ended December 31, 2008: $3,055,590

(b) Audit-Related Fees.

Fiscal Year Ended December 31, 2009: $876,210
Fiscal Year Ended December 31, 2008: $626,240

Includes fees billed in connection with assurance and related services provided to the Registrant, The Vanguard Group, Inc., Vanguard Marketing Corporation, and other registered investment companies in the Vanguard Group.

(c) Tax Fees.

Fiscal Year Ended December 31, 2009: $423,070
Fiscal Year Ended December 31, 2008: $230,400

Includes fees billed in connection with tax compliance, planning and advice services provided to the Registrant, The Vanguard Group, Inc., Vanguard Marketing Corporation, and other registered investment companies in the Vanguard Group and related to income and excise taxes.


(d) All Other Fees.

Fiscal Year Ended December 31, 2009: $0
Fiscal Year Ended December 31, 2008: $0

Includes fees billed for services related to risk management and privacy matters. Services were provided to the Registrant, The Vanguard Group, Inc., Vanguard Marketing Corporation, and other registered investment companies in the Vanguard Group.

(e) (1) Pre-Approval Policies. The policy of the Registrant’s Audit Committee is to consider and, if appropriate, approve before the principal accountant is engaged for such services, all specific audit and non-audit services provided to: (1) the Registrant; (2) The Vanguard Group, Inc.; (3) other entities controlled by The Vanguard Group, Inc. that provide ongoing services to the Registrant; and (4) other registered investment companies in the Vanguard Group. In making a determination, the Audit Committee considers whether the services are consistent with maintaining the principal accountant’s independence.

     In the event of a contingency situation in which the principal accountant is needed to provide services in between scheduled Audit Committee meetings, the Chairman of the Audit Committee would be called on to consider and, if appropriate, pre-approve audit or permitted non-audit services in an amount sufficient to complete services through the next Audit Committee meeting, and to determine if such services would be consistent with maintaining the accountant’s independence. At the next scheduled Audit Committee meeting, services and fees would be presented to the Audit Committee for formal consideration, and, if appropriate, approval by the entire Audit Committee. The Audit Committee would again consider whether such services and fees are consistent with maintaining the principal accountant’s independence.

     The Registrant’s Audit Committee is informed at least annually of all audit and non-audit services provided by the principal accountant to the Vanguard complex, whether such services are provided to: (1) the Registrant; (2) The Vanguard Group, Inc.; (3) other entities controlled by The Vanguard Group, Inc. that provide ongoing services to the Registrant; or (4) other registered investment companies in the Vanguard Group.

     (2) No percentage of the principal accountant’s fees or services were approved pursuant to the waiver provision of paragraph (c)(7)(i)(C) of Rule 2-01 of Regulation S-X.

(f) For the most recent fiscal year, over 50% of the hours worked under the principal accountant’s engagement were not performed by persons other than full-time, permanent employees of the principal accountant.


(g) Aggregate Non-Audit Fees.

Fiscal Year Ended December 31, 2009: $423,070
Fiscal Year Ended December 31, 2008: $230,400

Includes fees billed for non-audit services provided to the Registrant, The Vanguard Group, Inc., Vanguard Marketing Corporation, and other registered investment companies in the Vanguard Group.

(h) For the most recent fiscal year, the Audit Committee has determined that the provision of all non-audit services was consistent with maintaining the principal accountant’s independence.

Item 5: Not Applicable.

Item 6: Not Applicable.

Item 7: Not Applicable.

Item 8: Not Applicable.

Item 9: Not Applicable.

Item 10: Not Applicable.

Item 11: Controls and Procedures.

     (a) Disclosure Controls and Procedures. The Principal Executive and Financial Officers concluded that the Registrant's Disclosure Controls and Procedures are effective based on their evaluation of the Disclosure Controls and Procedures as of a date within 90 days of the filing date of this report.

     (b) Internal Control Over Financial Reporting. There were no significant changes in Registrant’s Internal Control Over Financial Reporting or in other factors that could significantly affect this control subsequent to the date of the evaluation, including any corrective actions with regard to significant deficiencies and material weaknesses.


Item 12: Exhibits.

(a) Code of Ethics.
(b) Certifications.

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

  VANGUARD INDEX FUNDS 
 
BY:  /s/ F. WILLIAM MCNABB III* 
  F. WILLIAM MCNABB III 
  CHIEF EXECUTIVE OFFICER 
 
Date: February 22, 2010 

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

  VANGUARD INDEX FUNDS 
 
BY:  /s/ F. WILLIAM MCNABB III* 
  F. WILLIAM MCNABB III 
  CHIEF EXECUTIVE OFFICER 
Date: February 22, 2010 
  VANGUARD INDEX FUNDS 
BY:  /s/ THOMAS J. HIGGINS* 
  THOMAS J. HIGGINS 
  CHIEF FINANCIAL OFFICER 
Date: February 22, 2010 

* By: /s/ Heidi Stam

Heidi Stam, pursuant to a Power of Attorney filed on July 24, 2009, see file Number
2-88373, and a Power of Attorney filed on October 16, 2009, see File Number 2-52698,
both Incorporated by Reference.