SECURITIES AND EXCHANGE COMMISSION |
Washington, D.C. 20549 |
Form N-1A |
REGISTRATION STATEMENT (NO. 2-17620) UNDER |
THE SECURITIES ACT OF 1933 |
Post-Effective Amendment No. 156 |
and |
REGISTRATION STATEMENT (NO. 811-01027) UNDER THE INVESTMENT COMPANY |
ACT OF 1940 |
Amendment No. 156 |
VANGUARD WORLD FUND |
(Exact Name of Registrant as Specified in Declaration of Trust) |
P.O. Box 2600, Valley Forge, PA 19482 |
(Address of Principal Executive Office) |
Registrants Telephone Number (610) 669-1000 |
Anne E. Robinson, Esquire |
P.O. Box 876 |
Valley Forge, PA 19482 |
It is proposed that this filing will become effective (check appropriate box) |
[X] immediately upon filing pursuant to paragraph (b) |
[ ] on (date) pursuant to paragraph (b) |
[ ] 60 days after filing pursuant to paragraph (a)(1) |
[ ] on , (date) pursuant to paragraph (a)(1) |
[ ] 75 days after filing pursuant to paragraph (a)(2) |
[ ] on (date) pursuant to paragraph (a)(2) of rule 485 |
If appropriate, check the following box: |
[ ] This post-effective amendment designates a new effective date for a |
previously filed post-effective amendment. |
SIGNATURES | ||
Pursuant to the requirements of the Securities Act of 1933 and the Investment Company Act of 1940, the | ||
Registrant hereby certifies that it meets all requirements for effectiveness of this Registration Statement | ||
pursuant to Rule 485(b) under the Securities Act of 1933 and has duly caused this Registration Statement to be | ||
signed on its behalf by the undersigned, thereunto duly authorized, in the Town of Valley Forge and the | ||
Commonwealth of Pennsylvania, on the 9th day of October, 2018. | ||
VANGUARD WORLD FUND | ||
BY:________/s/ Mortimer J. Buckley* | ||
Mortimer J. Buckley | ||
Chief Executive Officer, President, and Trustee | ||
Pursuant to the requirements of the Securities Act, this Post-Effective Amendment to the | ||
Registration Statement has been signed below by the following persons in the capacities and on | ||
the date indicated: | ||
Signature | Title | Date |
/s/ F. William McNabb III* | Chairman of the Board of | October 9, 2018 |
Trustees | ||
F. William McNabb | ||
/s/ Mortimer J. Buckley* | Chief Executive Officer, | October 9, 2018 |
President, and Trustee | ||
Mortimer J. Buckley | ||
/s/ Emerson U. Fullwood* | Trustee | October 9, 2018 |
Emerson U. Fullwood | ||
/s/ Amy Gutmann* | Trustee | October 9, 2018 |
Amy Gutmann | ||
/s/ JoAnn Heffernan Heisen* | Trustee | October 9, 2018 |
JoAnn Heffernan Heisen | ||
/s/ F. Joseph Loughrey* | Trustee | October 9, 2018 |
F. Joseph Loughrey | ||
/s/ Mark Loughridge* | Trustee | October 9, 2018 |
Mark Loughridge | ||
/s/ Scott C. Malpass* | Trustee | October 9, 2018 |
Scott C. Malpass | ||
/s/ Deanna Mulligan* | Trustee | October 9, 2018 |
Deanna Mulligan | ||
/s/ André F. Perold* | Trustee | October 9, 2018 |
André F. Perold | ||
/s/ Sarah Bloom Raskin* | Trustee | October 9, 2018 |
Sarah Bloom Raskin | ||
/s/ Peter F. Volanakis* | Trustee | October 9, 2018 |
Peter F. Volanakis | ||
/s/ Thomas J. Higgins* | Chief Financial Officer | October 9, 2018 |
Thomas J. Higgins | ||
*By: /s/ Anne E. Robinson | ||
Anne E. Robinson, pursuant to a Power of Attorney filed on January 18, 2018, see File Number 33-32216, | ||
Incorporated by Reference. |
INDEX TO EXHIBITS | |
XBRL Instance Document | Ex-101.INS |
XBRL Taxonomy Extension Schema Document | Ex-101.SCH |
XBRL Taxonomy Extension Calculation Linkbase Document | Ex-101.CAL |
XBRL Taxonomy Extension Definition Linkbase Document. | Ex-101.DEF |
XBRL Taxonomy Extension Labels Linkbase Document | Ex-101.LAB |
XBRL Taxonomy Extension Presentation Linkbase Document | Ex-101.PRE |
Label | Element | Value |
---|---|---|
Risk/Return: | rr_RiskReturnAbstract | |
Document Type | dei_DocumentType | 485BPOS |
Document Period End Date | dei_DocumentPeriodEndDate | Sep. 18, 2018 |
Registrant Name | dei_EntityRegistrantName | VANGUARD WORLD FUND |
Central Index Key | dei_EntityCentralIndexKey | 0000052848 |
Amendment Flag | dei_AmendmentFlag | false |
Document Creation Date | dei_DocumentCreationDate | Sep. 18, 2018 |
Document Effective Date | dei_DocumentEffectiveDate | Sep. 18, 2018 |
Prospectus Date | rr_ProspectusDate | Sep. 18, 2018 |
Vanguard ESG U.S. Stock ETF | |||||||||||||||||
ETF Summary | |||||||||||||||||
Investment Objective | |||||||||||||||||
The Fund seeks to track the performance of a benchmark index that measures the investment return of large-, mid-, and small-capitalization stocks of U.S. companies and is screened for certain environmental, social, and corporate governance criteria. | |||||||||||||||||
Fees and Expenses | |||||||||||||||||
The following table describes the fees and expenses you may pay if you buy and hold shares of the Fund. | |||||||||||||||||
Shareholder Fees<br/><br/>(Fees paid directly from your investment) | |||||||||||||||||
| |||||||||||||||||
Annual Fund Operating Expenses<br/><br/>(Expenses that you pay each year as a percentage of the value of your investment) | |||||||||||||||||
| |||||||||||||||||
Example | |||||||||||||||||
The following example is intended to help you compare the cost of investing in the Fund with the cost of investing in other funds. It illustrates the hypothetical expenses that you would incur over various periods if you were to invest $10,000 in the Fund’s shares. This example assumes that the Fund provides a return of 5% each year and that total annual fund operating expenses remain as stated in the preceding table. You would incur these hypothetical expenses whether or not you redeem your investment at the end of the given period. Although your actual costs may be higher or lower, based on these assumptions your costs would be: | |||||||||||||||||
| |||||||||||||||||
This example does not include the brokerage commissions that you may pay to buy and sell shares of the Fund. | |||||||||||||||||
Portfolio Turnover | |||||||||||||||||
The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in more taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the previous expense example, reduce the Fund’s performance. The Fund has no operating history and, therefore, has no portfolio turnover information. | |||||||||||||||||
Principal Investment Strategies | |||||||||||||||||
The Fund employs an indexing investment approach designed to track the performance of the FTSE US All Cap Choice Index. The Index, which is market-capitalization weighted, is composed of large-, mid-, and small-cap stocks of companies located in the United States and is screened for certain environmental, social, and corporate governance (ESG) criteria by the Index sponsor, which is independent of Vanguard. Specifically, the Index excludes stocks of companies in the following industries: adult entertainment, alcohol and tobacco, weapons, fossil fuels, gambling, and nuclear power. The index methodology also excludes the stocks of companies that do not meet the labor, human rights, environmental, and anti-corruption standards as defined by the United Nations Global Compact Principles, as well as companies that do not meet certain diversity criteria. The Fund attempts to replicate the target index by investing all, or substantially all, of its assets in the stocks that make up the Index, holding each stock in approximately the same proportion as its weighting in the Index. | |||||||||||||||||
Principal Risks | |||||||||||||||||
An investment in the Fund could lose money over short or long periods of time. You should expect the Fund’s share price and total return to fluctuate within a wide range. The Fund is subject to the following risks, which could affect the Fund’s performance: Stock market risk, which is the chance that stock prices overall will decline. Stock markets tend to move in cycles, with periods of rising prices and periods of falling prices. The Fund‘s target index tracks a subset of the U.S. stock market, which could cause the Fund to perform differently from the overall market. In addition, historically, small- and mid-cap stocks have been more volatile in price than the large-cap stocks that dominate the overall market, and they often perform quite differently. Small and mid-size companies tend to have greater stock volatility because, among other things, these companies tend to be more sensitive to changing economic conditions. ESG investing risk, which is the chance that the stocks screened by the index sponsor for ESG criteria generally will underperform the stock market as a whole or that the particular stocks selected for the FTSE US All Cap Choice Index will, in the aggregate, trail returns of other funds screened for ESG criteria. Because ETF Shares are traded on an exchange, they are subject to additional risks: The Fund’s ETF Shares are listed for trading on Cboe BZX Exchange, Inc., and are bought and sold on the secondary market at market prices. Although it is expected that the market price of an ETF Share typically will approximate its net asset value (NAV), there may be times when the market price and the NAV differ significantly. Thus, you may pay more or less than NAV when you buy ETF Shares on the secondary market, and you may receive more or less than NAV when you sell those shares. Although the Fund’s ETF Shares are listed for trading on Cboe BZX Exchange, Inc., it is possible that an active trading market may not be maintained. Trading of the Fund’s ETF Shares may be halted by the activation of individual or marketwide trading halts (which halt trading for a specific period of time when the price of a particular security or overall market prices decline by a specified percentage). Trading of the Fund’s ETF Shares may also be halted if (1) the shares are delisted from Cboe BZX Exchange, Inc., without first being listed on another exchange or (2) Cboe BZX Exchange, Inc., officials determine that such action is appropriate in the interest of a fair and orderly market or for the protection of investors. An investment in the Fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. | |||||||||||||||||
Annual Total Returns | |||||||||||||||||
This is the Fund‘s initial prospectus, so it does not contain performance data. |
Label | Element | Value | ||||
---|---|---|---|---|---|---|
Risk/Return: | rr_RiskReturnAbstract | |||||
Registrant Name | dei_EntityRegistrantName | VANGUARD WORLD FUND | ||||
Prospectus Date | rr_ProspectusDate | Sep. 18, 2018 | ||||
Vanguard ESG U.S. Stock ETF | ||||||
Risk/Return: | rr_RiskReturnAbstract | |||||
Risk/Return [Heading] | rr_RiskReturnHeading | ETF Summary | ||||
Objective [Heading] | rr_ObjectiveHeading | Investment Objective | ||||
Objective, Primary [Text Block] | rr_ObjectivePrimaryTextBlock | The Fund seeks to track the performance of a benchmark index that measures the investment return of large-, mid-, and small-capitalization stocks of U.S. companies and is screened for certain environmental, social, and corporate governance criteria. | ||||
Expense [Heading] | rr_ExpenseHeading | Fees and Expenses | ||||
Expense Narrative [Text Block] | rr_ExpenseNarrativeTextBlock | The following table describes the fees and expenses you may pay if you buy and hold shares of the Fund. | ||||
Shareholder Fees Caption [Text] | rr_ShareholderFeesCaption | Shareholder Fees<br/><br/>(Fees paid directly from your investment) | ||||
Operating Expenses Caption [Text] | rr_OperatingExpensesCaption | Annual Fund Operating Expenses<br/><br/>(Expenses that you pay each year as a percentage of the value of your investment) | ||||
Portfolio Turnover [Heading] | rr_PortfolioTurnoverHeading | Portfolio Turnover | ||||
Portfolio Turnover [Text Block] | rr_PortfolioTurnoverTextBlock | The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in more taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the previous expense example, reduce the Fund’s performance. The Fund has no operating history and, therefore, has no portfolio turnover information. | ||||
Expense Exchange Traded Fund Commissions [Text] | rr_ExpenseExchangeTradedFundCommissions | This example does not include the brokerage commissions that you may pay to buy and sell shares of the Fund. | ||||
Other Expenses, New Fund, Based on Estimates [Text] | rr_OtherExpensesNewFundBasedOnEstimates | The expense information shown in the table reflects estimated amounts for the current fiscal year. | ||||
Expense Example [Heading] | rr_ExpenseExampleHeading | Example | ||||
Expense Example Narrative [Text Block] | rr_ExpenseExampleNarrativeTextBlock | The following example is intended to help you compare the cost of investing in the Fund with the cost of investing in other funds. It illustrates the hypothetical expenses that you would incur over various periods if you were to invest $10,000 in the Fund’s shares. This example assumes that the Fund provides a return of 5% each year and that total annual fund operating expenses remain as stated in the preceding table. You would incur these hypothetical expenses whether or not you redeem your investment at the end of the given period. Although your actual costs may be higher or lower, based on these assumptions your costs would be: | ||||
Expense Example Closing [Text Block] | rr_ExpenseExampleClosingTextBlock | This example does not include the brokerage commissions that you may pay to buy and sell shares of the Fund. | ||||
Strategy [Heading] | rr_StrategyHeading | Principal Investment Strategies | ||||
Strategy Narrative [Text Block] | rr_StrategyNarrativeTextBlock | The Fund employs an indexing investment approach designed to track the performance of the FTSE US All Cap Choice Index. The Index, which is market-capitalization weighted, is composed of large-, mid-, and small-cap stocks of companies located in the United States and is screened for certain environmental, social, and corporate governance (ESG) criteria by the Index sponsor, which is independent of Vanguard. Specifically, the Index excludes stocks of companies in the following industries: adult entertainment, alcohol and tobacco, weapons, fossil fuels, gambling, and nuclear power. The index methodology also excludes the stocks of companies that do not meet the labor, human rights, environmental, and anti-corruption standards as defined by the United Nations Global Compact Principles, as well as companies that do not meet certain diversity criteria. The Fund attempts to replicate the target index by investing all, or substantially all, of its assets in the stocks that make up the Index, holding each stock in approximately the same proportion as its weighting in the Index. |
||||
Risk [Heading] | rr_RiskHeading | Principal Risks | ||||
Risk Narrative [Text Block] | rr_RiskNarrativeTextBlock | An investment in the Fund could lose money over short or long periods of time. You should expect the Fund’s share price and total return to fluctuate within a wide range. The Fund is subject to the following risks, which could affect the Fund’s performance: Stock market risk, which is the chance that stock prices overall will decline. Stock markets tend to move in cycles, with periods of rising prices and periods of falling prices. The Fund‘s target index tracks a subset of the U.S. stock market, which could cause the Fund to perform differently from the overall market. In addition, historically, small- and mid-cap stocks have been more volatile in price than the large-cap stocks that dominate the overall market, and they often perform quite differently. Small and mid-size companies tend to have greater stock volatility because, among other things, these companies tend to be more sensitive to changing economic conditions. ESG investing risk, which is the chance that the stocks screened by the index sponsor for ESG criteria generally will underperform the stock market as a whole or that the particular stocks selected for the FTSE US All Cap Choice Index will, in the aggregate, trail returns of other funds screened for ESG criteria. Because ETF Shares are traded on an exchange, they are subject to additional risks: The Fund’s ETF Shares are listed for trading on Cboe BZX Exchange, Inc., and are bought and sold on the secondary market at market prices. Although it is expected that the market price of an ETF Share typically will approximate its net asset value (NAV), there may be times when the market price and the NAV differ significantly. Thus, you may pay more or less than NAV when you buy ETF Shares on the secondary market, and you may receive more or less than NAV when you sell those shares. Although the Fund’s ETF Shares are listed for trading on Cboe BZX Exchange, Inc., it is possible that an active trading market may not be maintained. Trading of the Fund’s ETF Shares may be halted by the activation of individual or marketwide trading halts (which halt trading for a specific period of time when the price of a particular security or overall market prices decline by a specified percentage). Trading of the Fund’s ETF Shares may also be halted if (1) the shares are delisted from Cboe BZX Exchange, Inc., without first being listed on another exchange or (2) Cboe BZX Exchange, Inc., officials determine that such action is appropriate in the interest of a fair and orderly market or for the protection of investors. An investment in the Fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. |
||||
Risk Lose Money [Text] | rr_RiskLoseMoney | An investment in the Fund could lose money over short or long periods of time. | ||||
Risk Not Insured Depository Institution [Text] | rr_RiskNotInsuredDepositoryInstitution | An investment in the Fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. | ||||
Bar Chart and Performance Table [Heading] | rr_BarChartAndPerformanceTableHeading | Annual Total Returns | ||||
Performance Narrative [Text Block] | rr_PerformanceNarrativeTextBlock | This is the Fund‘s initial prospectus, so it does not contain performance data. | ||||
Performance One Year or Less [Text] | rr_PerformanceOneYearOrLess | This is the Fund‘s initial prospectus, so it does not contain performance data. | ||||
Vanguard ESG U.S. Stock ETF | ETF Shares | ||||||
Risk/Return: | rr_RiskReturnAbstract | |||||
Transaction Fee on Purchases and Sales | world_TransactionFeeOnPurchasesAndSales | none | [1] | |||
Transaction Fee on Reinvested Dividends | world_TransactionFeeOnReinvestedDividends | none | [1] | |||
Management Fees | rr_ManagementFeesOverAssets | 0.06% | ||||
12b-1 Distribution Fee | rr_DistributionAndService12b1FeesOverAssets | none | ||||
Other Expenses | rr_OtherExpensesOverAssets | 0.06% | ||||
Total Annual Fund Operating Expenses | rr_ExpensesOverAssets | 0.12% | [2] | |||
1 Year | rr_ExpenseExampleYear01 | $ 12 | ||||
3 Years | rr_ExpenseExampleYear03 | 39 | ||||
1 Year | rr_ExpenseExampleNoRedemptionYear01 | 12 | ||||
3 Years | rr_ExpenseExampleNoRedemptionYear03 | $ 39 | ||||
|
Vanguard ESG International Stock ETF | |||||||||||||||||
ETF Summary | |||||||||||||||||
Investment Objective | |||||||||||||||||
The Fund seeks to track the performance of a benchmark index that measures the investment return of large-, mid-, and small-capitalization stocks of companies located in developed and emerging markets outside of the United States and is screened for certain environmental, social, and corporate governance criteria. | |||||||||||||||||
Fees and Expenses | |||||||||||||||||
The following table describes the fees and expenses you may pay if you buy and hold shares of the Fund. | |||||||||||||||||
Shareholder Fees<br/><br/>(Fees paid directly from your investment) | |||||||||||||||||
| |||||||||||||||||
Annual Fund Operating Expenses<br/><br/> (Expenses that you pay each year as a percentage of the value of your investment) | |||||||||||||||||
| |||||||||||||||||
Example | |||||||||||||||||
The following example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. It illustrates the hypothetical expenses that you would incur over various periods if you were to invest $10,000 in the Fund’s shares. This example assumes that the Fund provides a return of 5% each year and that total annual fund operating expenses remain as stated in the preceding table. You would incur these hypothetical expenses whether or not you redeem your investment at the end of the given period. Although your actual costs may be higher or lower, based on these assumptions your costs would be: | |||||||||||||||||
| |||||||||||||||||
This example does not include the brokerage commissions that you may pay to buy and sell shares of the Fund. | |||||||||||||||||
Portfolio Turnover | |||||||||||||||||
The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in more taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the previous expense example, reduce the Fund’s performance. The Fund has no operating history and, therefore, has no portfolio turnover information. | |||||||||||||||||
Principal Investment Strategies | |||||||||||||||||
The Fund employs an indexing investment approach designed to track the performance of the FTSE Global All Cap ex US Choice Index. The Index, which is market-capitalization weighted, is composed of large-, mid-, and small-cap stocks of companies in developed and emerging markets, excluding the United States, and is screened for certain environmental, social, and corporate governance (ESG) criteria by the Index sponsor, which is independent of Vanguard. Specifically, the Index excludes stocks of companies in the following industries: adult entertainment, alcohol and tobacco, weapons, fossil fuels, gambling, and nuclear power. The index methodology also excludes the stocks of companies that do not meet the labor, human rights, environmental, and anti-corruption standards as defined by the United Nations Global Compact Principles, as well as companies that do not meet certain diversity criteria. The Fund invests by sampling the Index, meaning that it holds a broadly diversified collection of securities that, in the aggregate, approximates the full Index in terms of key characteristics. These key characteristics include industry weightings and market capitalization, as well as certain financial measures, such as price/earnings ratio and dividend yield. | |||||||||||||||||
Principal Risks | |||||||||||||||||
An investment in the Fund could lose money over short or long periods of time. You should expect the Fund’s share price and total return to fluctuate within a wide range. The Fund is subject to the following risks, which could affect the Fund’s performance: Stock market risk, which is the chance that stock prices overall will decline. Stock markets tend to move in cycles, with periods of rising prices and periods of falling prices. The Fund‘s investments in foreign stocks can be riskier than U.S. stock investments. Foreign stocks tend to be more volatile and less liquid than U.S. stocks. The prices of foreign stocks and the prices of U.S. stocks may move in opposite directions. In addition, historically, non-U.S. small- and mid-cap stocks have been more volatile in price than the large-cap stocks that dominate the global markets, and they often perform quite differently. Small and mid-size companies tend to have greater stock volatility because, among other things, these companies tend to be more sensitive to changing economic conditions. ESG investing risk, which is the chance that the stocks screened by the index sponsor for ESG criteria generally will underperform the stock market as a whole or that the particular stocks selected for the FTSE Global All Cap ex US Choice Index will, in the aggregate, trail returns of other funds screened for ESG criteria. Country/regional risk, which is the chance that world events—such as political upheaval, financial troubles, or natural disasters—will adversely affect the value of securities issued by companies in foreign countries or regions. Because the Fund may invest a large portion of its assets in securities of companies located in any one country or region, the Fund’s performance may be hurt disproportionately by the poor performance of its investments in that area. Country/regional risk is especially high in emerging markets. Emerging markets risk, which is the chance that the stocks of companies located in emerging markets will be substantially more volatile, and substantially less liquid, than the stocks of companies located in more developed foreign markets because, among other factors, emerging markets can have greater custodial and operational risks; less developed legal, tax, regulatory, and accounting systems; and greater political, social, and economic instability than developed markets. Currency risk, which is the chance that the value of a foreign investment, measured in U.S. dollars, will decrease because of unfavorable changes in currency exchange rates. Currency risk is especially high in emerging markets. Index sampling risk, which is the chance that the securities selected for the Fund, in the aggregate, will not provide investment performance matching that of the Fund‘s target index. Because ETF Shares are traded on an exchange, they are subject to additional risks: The Fund’s ETF Shares are listed for trading on Cboe BZX Exchange, Inc., and are bought and sold on the secondary market at market prices. Although it is expected that the market price of an ETF Share typically will approximate its net asset value (NAV), there may be times when the market price and the NAV differ significantly. Thus, you may pay more or less than NAV when you buy ETF Shares on the secondary market, and you may receive more or less than NAV when you sell those shares. Although the Fund’s ETF Shares are listed for trading on Cboe BZX Exchange, Inc., it is possible that an active trading market may not be maintained. Trading of the Fund’s ETF Shares may be halted by the activation of individual or marketwide trading halts (which halt trading for a specific period of time when the price of a particular security or overall market prices decline by a specified percentage). Trading of the Fund’s ETF Shares may also be halted if (1) the shares are delisted from Cboe BZX Exchange, Inc., without first being listed on another exchange or (2) Cboe BZX Exchange, Inc., officials determine that such action is appropriate in the interest of a fair and orderly market or for the protection of investors. An investment in the Fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. | |||||||||||||||||
Annual Total Returns | |||||||||||||||||
This is the Fund‘s initial prospectus, so it does not contain performance data. |
Label | Element | Value | ||||
---|---|---|---|---|---|---|
Risk/Return: | rr_RiskReturnAbstract | |||||
Registrant Name | dei_EntityRegistrantName | VANGUARD WORLD FUND | ||||
Prospectus Date | rr_ProspectusDate | Sep. 18, 2018 | ||||
Vanguard ESG International Stock ETF | ||||||
Risk/Return: | rr_RiskReturnAbstract | |||||
Risk/Return [Heading] | rr_RiskReturnHeading | ETF Summary | ||||
Objective [Heading] | rr_ObjectiveHeading | Investment Objective | ||||
Objective, Primary [Text Block] | rr_ObjectivePrimaryTextBlock | The Fund seeks to track the performance of a benchmark index that measures the investment return of large-, mid-, and small-capitalization stocks of companies located in developed and emerging markets outside of the United States and is screened for certain environmental, social, and corporate governance criteria. | ||||
Expense [Heading] | rr_ExpenseHeading | Fees and Expenses | ||||
Expense Narrative [Text Block] | rr_ExpenseNarrativeTextBlock | The following table describes the fees and expenses you may pay if you buy and hold shares of the Fund. | ||||
Shareholder Fees Caption [Text] | rr_ShareholderFeesCaption | Shareholder Fees<br/><br/>(Fees paid directly from your investment) | ||||
Operating Expenses Caption [Text] | rr_OperatingExpensesCaption | Annual Fund Operating Expenses<br/><br/> (Expenses that you pay each year as a percentage of the value of your investment) | ||||
Portfolio Turnover [Heading] | rr_PortfolioTurnoverHeading | Portfolio Turnover | ||||
Portfolio Turnover [Text Block] | rr_PortfolioTurnoverTextBlock | The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in more taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the previous expense example, reduce the Fund’s performance. The Fund has no operating history and, therefore, has no portfolio turnover information. | ||||
Expense Exchange Traded Fund Commissions [Text] | rr_ExpenseExchangeTradedFundCommissions | This example does not include the brokerage commissions that you may pay to buy and sell shares of the Fund. | ||||
Other Expenses, New Fund, Based on Estimates [Text] | rr_OtherExpensesNewFundBasedOnEstimates | The expense information shown in the table reflects estimated amounts for the current fiscal year. | ||||
Expense Example [Heading] | rr_ExpenseExampleHeading | Example | ||||
Expense Example Narrative [Text Block] | rr_ExpenseExampleNarrativeTextBlock | The following example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. It illustrates the hypothetical expenses that you would incur over various periods if you were to invest $10,000 in the Fund’s shares. This example assumes that the Fund provides a return of 5% each year and that total annual fund operating expenses remain as stated in the preceding table. You would incur these hypothetical expenses whether or not you redeem your investment at the end of the given period. Although your actual costs may be higher or lower, based on these assumptions your costs would be: | ||||
Expense Example Closing [Text Block] | rr_ExpenseExampleClosingTextBlock | This example does not include the brokerage commissions that you may pay to buy and sell shares of the Fund. | ||||
Strategy [Heading] | rr_StrategyHeading | Principal Investment Strategies | ||||
Strategy Narrative [Text Block] | rr_StrategyNarrativeTextBlock | The Fund employs an indexing investment approach designed to track the performance of the FTSE Global All Cap ex US Choice Index. The Index, which is market-capitalization weighted, is composed of large-, mid-, and small-cap stocks of companies in developed and emerging markets, excluding the United States, and is screened for certain environmental, social, and corporate governance (ESG) criteria by the Index sponsor, which is independent of Vanguard. Specifically, the Index excludes stocks of companies in the following industries: adult entertainment, alcohol and tobacco, weapons, fossil fuels, gambling, and nuclear power. The index methodology also excludes the stocks of companies that do not meet the labor, human rights, environmental, and anti-corruption standards as defined by the United Nations Global Compact Principles, as well as companies that do not meet certain diversity criteria. The Fund invests by sampling the Index, meaning that it holds a broadly diversified collection of securities that, in the aggregate, approximates the full Index in terms of key characteristics. These key characteristics include industry weightings and market capitalization, as well as certain financial measures, such as price/earnings ratio and dividend yield. |
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Risk [Heading] | rr_RiskHeading | Principal Risks | ||||
Risk Narrative [Text Block] | rr_RiskNarrativeTextBlock | An investment in the Fund could lose money over short or long periods of time. You should expect the Fund’s share price and total return to fluctuate within a wide range. The Fund is subject to the following risks, which could affect the Fund’s performance: Stock market risk, which is the chance that stock prices overall will decline. Stock markets tend to move in cycles, with periods of rising prices and periods of falling prices. The Fund‘s investments in foreign stocks can be riskier than U.S. stock investments. Foreign stocks tend to be more volatile and less liquid than U.S. stocks. The prices of foreign stocks and the prices of U.S. stocks may move in opposite directions. In addition, historically, non-U.S. small- and mid-cap stocks have been more volatile in price than the large-cap stocks that dominate the global markets, and they often perform quite differently. Small and mid-size companies tend to have greater stock volatility because, among other things, these companies tend to be more sensitive to changing economic conditions. ESG investing risk, which is the chance that the stocks screened by the index sponsor for ESG criteria generally will underperform the stock market as a whole or that the particular stocks selected for the FTSE Global All Cap ex US Choice Index will, in the aggregate, trail returns of other funds screened for ESG criteria. Country/regional risk, which is the chance that world events—such as political upheaval, financial troubles, or natural disasters—will adversely affect the value of securities issued by companies in foreign countries or regions. Because the Fund may invest a large portion of its assets in securities of companies located in any one country or region, the Fund’s performance may be hurt disproportionately by the poor performance of its investments in that area. Country/regional risk is especially high in emerging markets. Emerging markets risk, which is the chance that the stocks of companies located in emerging markets will be substantially more volatile, and substantially less liquid, than the stocks of companies located in more developed foreign markets because, among other factors, emerging markets can have greater custodial and operational risks; less developed legal, tax, regulatory, and accounting systems; and greater political, social, and economic instability than developed markets. Currency risk, which is the chance that the value of a foreign investment, measured in U.S. dollars, will decrease because of unfavorable changes in currency exchange rates. Currency risk is especially high in emerging markets. Index sampling risk, which is the chance that the securities selected for the Fund, in the aggregate, will not provide investment performance matching that of the Fund‘s target index. Because ETF Shares are traded on an exchange, they are subject to additional risks: The Fund’s ETF Shares are listed for trading on Cboe BZX Exchange, Inc., and are bought and sold on the secondary market at market prices. Although it is expected that the market price of an ETF Share typically will approximate its net asset value (NAV), there may be times when the market price and the NAV differ significantly. Thus, you may pay more or less than NAV when you buy ETF Shares on the secondary market, and you may receive more or less than NAV when you sell those shares. Although the Fund’s ETF Shares are listed for trading on Cboe BZX Exchange, Inc., it is possible that an active trading market may not be maintained. Trading of the Fund’s ETF Shares may be halted by the activation of individual or marketwide trading halts (which halt trading for a specific period of time when the price of a particular security or overall market prices decline by a specified percentage). Trading of the Fund’s ETF Shares may also be halted if (1) the shares are delisted from Cboe BZX Exchange, Inc., without first being listed on another exchange or (2) Cboe BZX Exchange, Inc., officials determine that such action is appropriate in the interest of a fair and orderly market or for the protection of investors. An investment in the Fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. |
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Risk Lose Money [Text] | rr_RiskLoseMoney | An investment in the Fund could lose money over short or long periods of time. | ||||
Risk Not Insured Depository Institution [Text] | rr_RiskNotInsuredDepositoryInstitution | An investment in the Fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. | ||||
Bar Chart and Performance Table [Heading] | rr_BarChartAndPerformanceTableHeading | Annual Total Returns | ||||
Performance Narrative [Text Block] | rr_PerformanceNarrativeTextBlock | This is the Fund‘s initial prospectus, so it does not contain performance data. | ||||
Performance One Year or Less [Text] | rr_PerformanceOneYearOrLess | This is the Fund‘s initial prospectus, so it does not contain performance data. | ||||
Vanguard ESG International Stock ETF | ETF Shares | ||||||
Risk/Return: | rr_RiskReturnAbstract | |||||
Transaction Fee on Purchases and Sales | world_TransactionFeeOnPurchasesAndSales | none | [1] | |||
Transaction Fee on Reinvested Dividends | world_TransactionFeeOnReinvestedDividends | none | [1] | |||
Management Fees | rr_ManagementFeesOverAssets | 0.06% | ||||
12b-1 Distribution Fee | rr_DistributionAndService12b1FeesOverAssets | none | ||||
Other Expenses | rr_OtherExpensesOverAssets | 0.09% | ||||
Total Annual Fund Operating Expenses | rr_ExpensesOverAssets | 0.15% | [2] | |||
1 Year | rr_ExpenseExampleYear01 | $ 15 | ||||
3 Years | rr_ExpenseExampleYear03 | 48 | ||||
1 Year | rr_ExpenseExampleNoRedemptionYear01 | 15 | ||||
3 Years | rr_ExpenseExampleNoRedemptionYear03 | $ 48 | ||||
|
Label | Element | Value |
---|---|---|
Risk/Return: | rr_RiskReturnAbstract | |
Registrant Name | dei_EntityRegistrantName | VANGUARD WORLD FUND |
Prospectus Date | rr_ProspectusDate | Sep. 18, 2018 |
Document Creation Date | dei_DocumentCreationDate | Sep. 18, 2018 |
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