SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form N-1A
REGISTRATION STATEMENT 2-92948 UNDER
THE SECURITIES ACT OF 1933
Pre-Effective Amendment No.
Post-Effective Amendment No. 77
and
REGISTRATION STATEMENT (NO. 811-4098) UNDER THE INVESTMENT COMPANY
ACT OF 1940
Amendment No. 78
VANGUARD CHESTER FUNDS
(Exact Name of Registrant as Specified in Declaration of Trust)
P.O. Box 2600, Valley Forge, PA 19482
(Address of Principal Executive Office)
Registrant’s Telephone Number (610) 669-1000
Anne R. 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 3rd day of May, 2017.
VANGUARD CHESTER FUNDS
BY:___________/s/ F. William Mc Nabb III*_________
F. William McNabb III
Chairman and Chief Executive Officer
Pursuant to the requirements of the Securities Act of 1933, 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 and Chief | May 3, 2017 |
| Executive Officer | ||
| F. William McNabb | ||
| /s/ Emerson U. Fullwood* | Trustee | May 3, 2017 |
| Emerson U. Fullwood | ||
| /s/ Rajiv L. Gupta* | Trustee | May 3, 2017 |
| Rajiv L. Gupta | ||
| /s/ Amy Gutmann* | Trustee | May 3, 2017 |
| Amy Gutmann | ||
| /s/ JoAnn Heffernan Heisen* | Trustee | May 3, 2017 |
| JoAnn Heffernan Heisen | ||
| /s/ F. Joseph Loughrey* | Trustee | May 3, 2017 |
| F. Joseph Loughrey | ||
| /s/ Mark Loughridge* | Trustee | May 3, 2017 |
| Mark Loughridge | ||
| /s/ Scott C. Malpass* | Trustee | May 3, 2017 |
| Scott C. Malpass | ||
| /s/ André F. Perold* | Trustee | May 3, 2017 |
| André F. Perold | ||
| /s/ Peter F. Volanakis* | Trustee | May 3, 2017 |
| Peter F. Volanakis | ||
| /s/ Thomas J. Higgins* | Chief Financial Officer | May 3, 2017 |
| Thomas J. Higgins | ||
*By: /s/ Anne E. Robinson
Anne E. Robinson, pursuant to a Power of Attorney filed on October 4, 2016, see File Number 33-32548, Incorporated by Reference.
C-1
| 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 | Apr. 17, 2017 |
| Registrant Name | dei_EntityRegistrantName | VANGUARD CHESTER FUNDS |
| Central Index Key | dei_EntityCentralIndexKey | 0000752177 |
| Amendment Flag | dei_AmendmentFlag | false |
| Document Creation Date | dei_DocumentCreationDate | Apr. 17, 2017 |
| Document Effective Date | dei_DocumentEffectiveDate | Apr. 17, 2017 |
| Prospectus Date | rr_ProspectusDate | Apr. 17, 2017 |
| Retail | Vanguard Target Retirement 2065 Fund | ||||||||||||||||||||
| Vanguard Target Retirement 2065 Fund | ||||||||||||||||||||
| Investment Objective | ||||||||||||||||||||
| The Fund seeks to provide capital appreciation and current income consistent with its current asset allocation. | ||||||||||||||||||||
| 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 (Fees paid directly from your investment) | ||||||||||||||||||||
| ||||||||||||||||||||
| Annual Fund Operating Expenses (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 (based on the fees and expenses of the acquired funds) 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 of the Fund and its underlying funds 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: | ||||||||||||||||||||
| ||||||||||||||||||||
| Portfolio Turnover | ||||||||||||||||||||
| The Fund has no operating history and therefore has no portfolio turnover information. | ||||||||||||||||||||
| Principal Investment Strategies | ||||||||||||||||||||
The Fund invests in other Vanguard mutual funds according to an asset allocation strategy designed for investors planning to retire and leave the workforce in or within a few years of 2065 (the target year). The Fund is designed for an investor who plans to withdraw the value of an account in the Fund over a period of many years after the target year. The Fund’s asset allocation will become more conservative over time, meaning that the percentage of assets allocated to stocks will decrease while the percentage of assets allocated to bonds and other fixed income investments will increase. Within seven years after 2065, the Fund’s asset allocation should become similar to that of the Target Retirement Income Fund. The Fund’s asset allocation among the underlying funds is as follows:
At any given time, the Fund’s asset allocation may be affected by a variety of factors, such as whether the underlying funds are accepting additional investments. The Fund’s indirect stock holdings are a diversified mix of U.S. and foreign large-, mid-, and small-capitalization stocks. The Fund’s indirect bond holdings are a diversified mix of short-, intermediate-, and long-term U.S. government, U.S. agency, and investment-grade U.S. corporate bonds; mortgage-backed and asset-backed securities; and government, agency, corporate, and securitized investment-grade foreign bonds issued in currencies other than the U.S. dollar (but hedged by Vanguard to minimize foreign currency exposure). | ||||||||||||||||||||
| Principal Risks | ||||||||||||||||||||
| The Fund is subject to the risks associated with the stock and bond markets, any of which could cause an investor to lose money. An investment in the Fund is not guaranteed. An investor may experience losses, including losses near, at, or after the target year. There is no guarantee that the Fund will provide adequate income at or after the target year. Because stocks usually are more volatile than bonds and because the Fund currently invests most of its assets in stocks, the Fund’s overall level of risk should be higher than that of funds that invest the majority of their assets in bonds; however, the level of risk should be lower than that of funds investing entirely in stocks. • With approximately 90% of its assets allocated to stocks, the Fund is proportionately subject to 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 is also subject to the following risks associated with investments in foreign stocks: 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 companies in a particular country or region; and 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. Country/regional risk and currency risk are especially high in emerging markets. • With approximately 10% of its assets allocated to bonds, the Fund is proportionately subject to the following bond risks: interest rate risk, which is the chance that bond prices will decline because of rising interest rates; income risk, which is the chance that an underlying fund’s income will decline because of falling interest rates; credit risk, which is the chance that a bond issuer will fail to pay interest or principal in a timely manner or that negative perceptions of the issuer’s ability to make such payments will cause the price of that bond to decline, thus reducing the underlying fund’s return; and call risk, which is the chance that during periods of falling interest rates, issuers of callable bonds may call (redeem) securities with higher coupon rates or interest rates before their maturity dates. An underlying fund would then lose any price appreciation above the bond’s call price and would be forced to reinvest the unanticipated proceeds at lower interest rates, resulting in a decline in the underlying fund’s income. The Fund is also subject to the following risks associated with investments in currency-hedged foreign bonds: country/regional risk, which is the chance that world events—such as political upheaval, financial troubles, or natural disasters—will adversely affect the value and/or liquidity of securities issued by foreign governments, government agencies, or companies; and currency hedging risk, which is the chance that the currency hedging transactions entered into by the underlying international bond fund may not perfectly offset the fund’s foreign currency exposure. • The Fund is also subject to asset allocation risk, which is the chance that the selection of underlying funds, and the allocation of assets to them, will cause the Fund to underperform other funds with a similar investment objective. 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 | ||||||||||||||||||||
| The Fund began operations on April 17, 2017, so performance information is not yet available. | ||||||||||||||||||||
| Label | Element | Value | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Risk/Return: | rr_RiskReturnAbstract | ||||||||||||||
| Registrant Name | dei_EntityRegistrantName | VANGUARD CHESTER FUNDS | |||||||||||||
| Prospectus Date | rr_ProspectusDate | Apr. 17, 2017 | |||||||||||||
| Retail | Vanguard Target Retirement 2065 Fund | |||||||||||||||
| Risk/Return: | rr_RiskReturnAbstract | ||||||||||||||
| Risk/Return [Heading] | rr_RiskReturnHeading | Vanguard Target Retirement 2065 Fund | |||||||||||||
| Objective [Heading] | rr_ObjectiveHeading | Investment Objective | |||||||||||||
| Objective, Primary [Text Block] | rr_ObjectivePrimaryTextBlock | The Fund seeks to provide capital appreciation and current income consistent with its current asset allocation. | |||||||||||||
| 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 (Fees paid directly from your investment) |
|||||||||||||
| Operating Expenses Caption [Text] | rr_OperatingExpensesCaption | Annual Fund Operating Expenses (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 has no operating history and therefore has no portfolio turnover information. | |||||||||||||
| 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 (based on the fees and expenses of the acquired funds) 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 of the Fund and its underlying funds 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: | |||||||||||||
| Strategy [Heading] | rr_StrategyHeading | Principal Investment Strategies | |||||||||||||
| Strategy Narrative [Text Block] | rr_StrategyNarrativeTextBlock | The Fund invests in other Vanguard mutual funds according to an asset allocation strategy designed for investors planning to retire and leave the workforce in or within a few years of 2065 (the target year). The Fund is designed for an investor who plans to withdraw the value of an account in the Fund over a period of many years after the target year. The Fund’s asset allocation will become more conservative over time, meaning that the percentage of assets allocated to stocks will decrease while the percentage of assets allocated to bonds and other fixed income investments will increase. Within seven years after 2065, the Fund’s asset allocation should become similar to that of the Target Retirement Income Fund. The Fund’s asset allocation among the underlying funds is as follows:
At any given time, the Fund’s asset allocation may be affected by a variety of factors, such as whether the underlying funds are accepting additional investments. The Fund’s indirect stock holdings are a diversified mix of U.S. and foreign large-, mid-, and small-capitalization stocks. The Fund’s indirect bond holdings are a diversified mix of short-, intermediate-, and long-term U.S. government, U.S. agency, and investment-grade U.S. corporate bonds; mortgage-backed and asset-backed securities; and government, agency, corporate, and securitized investment-grade foreign bonds issued in currencies other than the U.S. dollar (but hedged by Vanguard to minimize foreign currency exposure). |
|||||||||||||
| Risk [Heading] | rr_RiskHeading | Principal Risks | |||||||||||||
| Risk Narrative [Text Block] | rr_RiskNarrativeTextBlock | The Fund is subject to the risks associated with the stock and bond markets, any of which could cause an investor to lose money. An investment in the Fund is not guaranteed. An investor may experience losses, including losses near, at, or after the target year. There is no guarantee that the Fund will provide adequate income at or after the target year. Because stocks usually are more volatile than bonds and because the Fund currently invests most of its assets in stocks, the Fund’s overall level of risk should be higher than that of funds that invest the majority of their assets in bonds; however, the level of risk should be lower than that of funds investing entirely in stocks. • With approximately 90% of its assets allocated to stocks, the Fund is proportionately subject to 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 is also subject to the following risks associated with investments in foreign stocks: 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 companies in a particular country or region; and 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. Country/regional risk and currency risk are especially high in emerging markets. • With approximately 10% of its assets allocated to bonds, the Fund is proportionately subject to the following bond risks: interest rate risk, which is the chance that bond prices will decline because of rising interest rates; income risk, which is the chance that an underlying fund’s income will decline because of falling interest rates; credit risk, which is the chance that a bond issuer will fail to pay interest or principal in a timely manner or that negative perceptions of the issuer’s ability to make such payments will cause the price of that bond to decline, thus reducing the underlying fund’s return; and call risk, which is the chance that during periods of falling interest rates, issuers of callable bonds may call (redeem) securities with higher coupon rates or interest rates before their maturity dates. An underlying fund would then lose any price appreciation above the bond’s call price and would be forced to reinvest the unanticipated proceeds at lower interest rates, resulting in a decline in the underlying fund’s income. The Fund is also subject to the following risks associated with investments in currency-hedged foreign bonds: country/regional risk, which is the chance that world events—such as political upheaval, financial troubles, or natural disasters—will adversely affect the value and/or liquidity of securities issued by foreign governments, government agencies, or companies; and currency hedging risk, which is the chance that the currency hedging transactions entered into by the underlying international bond fund may not perfectly offset the fund’s foreign currency exposure. • The Fund is also subject to asset allocation risk, which is the chance that the selection of underlying funds, and the allocation of assets to them, will cause the Fund to underperform other funds with a similar investment objective. 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 | The Fund is subject to the risks associated with the stock and bond markets, any of which could cause an investor to lose money. | |||||||||||||
| 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 | The Fund began operations on April 17, 2017, so performance information is not yet available. | |||||||||||||
| Performance One Year or Less [Text] | rr_PerformanceOneYearOrLess | The Fund began operations on April 17, 2017, so performance information is not yet available. | |||||||||||||
| Retail | Vanguard Target Retirement 2065 Fund | Investor Shares | |||||||||||||||
| Risk/Return: | rr_RiskReturnAbstract | ||||||||||||||
| Purchase Fee | rr_MaximumCumulativeSalesChargeOverOther | none | |||||||||||||
| Sales Charge (Load) Imposed on Purchases | rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice | none | |||||||||||||
| Sales Charge (Load) Imposed on Reinvested Dividends | rr_MaximumSalesChargeOnReinvestedDividendsAndDistributionsOverOther | none | |||||||||||||
| Redemption Fee | rr_RedemptionFeeOverRedemption | none | |||||||||||||
| Account Service Fee (for certain fund account balances below $10,000) | rr_MaximumAccountFee | $ 20 | [1] | ||||||||||||
| Management Fees | rr_ManagementFeesOverAssets | none | |||||||||||||
| 12b-1 Distribution Fee | rr_DistributionAndService12b1FeesOverAssets | none | |||||||||||||
| Other Expenses | rr_OtherExpensesOverAssets | none | |||||||||||||
| Acquired Fund Fees and Expenses | rr_AcquiredFundFeesAndExpensesOverAssets | 0.16% | |||||||||||||
| Total Annual Fund Operating Expenses | rr_ExpensesOverAssets | 0.16% | |||||||||||||
| 1 Year | rr_ExpenseExampleYear01 | $ 16 | |||||||||||||
| 3 Years | rr_ExpenseExampleYear03 | 52 | |||||||||||||
| 5 Years | rr_ExpenseExampleYear05 | 90 | |||||||||||||
| 10 Years | rr_ExpenseExampleYear10 | 205 | |||||||||||||
| 1 Year | rr_ExpenseExampleNoRedemptionYear01 | 16 | |||||||||||||
| 3 Years | rr_ExpenseExampleNoRedemptionYear03 | 52 | |||||||||||||
| 5 Years | rr_ExpenseExampleNoRedemptionYear05 | 90 | |||||||||||||
| 10 Years | rr_ExpenseExampleNoRedemptionYear10 | $ 205 | |||||||||||||
| |||||||||||||||
| Vanguard Institutional Target Retirement 2065 Fund | ||||||||||||
| Vanguard Institutional Target Retirement 2065 Fund | ||||||||||||
| Investment Objective | ||||||||||||
| The Fund seeks to provide capital appreciation and current income consistent with its current asset allocation. | ||||||||||||
| 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 (Fees paid directly from your investment) | ||||||||||||
| ||||||||||||
| Annual Fund Operating Expenses (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 (based on the fees and expenses of the acquired funds) 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 of the Fund and its underlying funds 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: | ||||||||||||
| ||||||||||||
| Portfolio Turnover | ||||||||||||
| The Fund has no operating history and therefore has no portfolio turnover information. | ||||||||||||
| Principal Investment Strategies | ||||||||||||
The Fund invests in other Vanguard mutual funds according to an asset allocation strategy designed for investors planning to retire and leave the workforce in or within a few years of 2065 (the target year). The Fund is designed for an investor who plans to withdraw the value of an account in the Fund over a period of many years after the target year. The Fund’s asset allocation will become more conservative over time, meaning that the percentage of assets allocated to stocks will decrease while the percentage of assets allocated to bonds and other fixed income investments will increase. Within seven years after 2065, the Fund’s asset allocation should become similar to that of the Institutional Target Retirement Income Fund. The Fund’s asset allocation among the underlying funds is as follows:
At any given time, the Fund’s asset allocation may be affected by a variety of factors, such as whether the underlying funds are accepting additional investments. The Fund’s indirect stock holdings are a diversified mix of U.S. and foreign large-, mid-, and small-capitalization stocks. The Fund’s indirect bond holdings are a diversified mix of short-, intermediate-, and long-term U.S. government, U.S. agency, and investment-grade U.S. corporate bonds; mortgage-backed and asset-backed securities; and government, agency, corporate, and securitized investment-grade foreign bonds issued in currencies other than the U.S. dollar (but hedged by Vanguard to minimize foreign currency exposure). | ||||||||||||
| Principal Risks | ||||||||||||
| The Fund is subject to the risks associated with the stock and bond markets, any of which could cause an investor to lose money. An investment in the Fund is not guaranteed. An investor may experience losses, including losses near, at, or after the target year. There is no guarantee that the Fund will provide adequate income at or after the target year. Because stocks usually are more volatile than bonds and because the Fund currently invests most of its assets in stocks, the Fund’s overall level of risk should be higher than that of funds that invest the majority of their assets in bonds; however, the level of risk should be lower than that of funds investing entirely in stocks. • With approximately 90% of its assets allocated to stocks, the Fund is proportionately subject to 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 is also subject to the following risks associated with investments in foreign stocks: 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 companies in a particular country or region; and 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. Country/regional risk and currency risk are especially high in emerging markets. • With approximately 10% of its assets allocated to bonds, the Fund is proportionately subject to the following bond risks: interest rate risk, which is the chance that bond prices will decline because of rising interest rates; income risk, which is the chance that an underlying fund’s income will decline because of falling interest rates; credit risk, which is the chance that a bond issuer will fail to pay interest or principal in a timely manner or that negative perceptions of the issuer’s ability to make such payments will cause the price of that bond to decline, thus reducing the underlying fund’s return; and call risk, which is the chance that during periods of falling interest rates, issuers of callable bonds may call (redeem) securities with higher coupon rates or interest rates before their maturity dates. An underlying fund would then lose any price appreciation above the bond’s call price and would be forced to reinvest the unanticipated proceeds at lower interest rates, resulting in a decline in the underlying fund’s income. The Fund is also subject to the following risks associated with investments in currency-hedged foreign bonds: country/regional risk, which is the chance that world events—such as political upheaval, financial troubles, or natural disasters—will adversely affect the value and/or liquidity of securities issued by foreign governments, government agencies, or companies; and currency hedging risk, which is the chance that the currency hedging transactions entered into by the underlying international bond fund may not perfectly offset the fund’s foreign currency exposure. • The Fund is also subject to asset allocation risk, which is the chance that the selection of underlying funds, and the allocation of assets to them, will cause the Fund to underperform other funds with a similar investment objective. 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 | ||||||||||||
| The Fund began operations on April 17, 2017, so performance information is not yet available. |
| Label | Element | Value | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Risk/Return: | rr_RiskReturnAbstract | |||||||||||||
| Registrant Name | dei_EntityRegistrantName | VANGUARD CHESTER FUNDS | ||||||||||||
| Prospectus Date | rr_ProspectusDate | Apr. 17, 2017 | ||||||||||||
| Vanguard Institutional Target Retirement 2065 Fund | ||||||||||||||
| Risk/Return: | rr_RiskReturnAbstract | |||||||||||||
| Risk/Return [Heading] | rr_RiskReturnHeading | Vanguard Institutional Target Retirement 2065 Fund | ||||||||||||
| Objective [Heading] | rr_ObjectiveHeading | Investment Objective | ||||||||||||
| Objective, Primary [Text Block] | rr_ObjectivePrimaryTextBlock | The Fund seeks to provide capital appreciation and current income consistent with its current asset allocation. | ||||||||||||
| 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 (Fees paid directly from your investment) |
||||||||||||
| Operating Expenses Caption [Text] | rr_OperatingExpensesCaption | Annual Fund Operating Expenses (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 has no operating history and therefore has no portfolio turnover information. | ||||||||||||
| 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 (based on the fees and expenses of the acquired funds) 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 of the Fund and its underlying funds 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: | ||||||||||||
| Strategy [Heading] | rr_StrategyHeading | Principal Investment Strategies | ||||||||||||
| Strategy Narrative [Text Block] | rr_StrategyNarrativeTextBlock | The Fund invests in other Vanguard mutual funds according to an asset allocation strategy designed for investors planning to retire and leave the workforce in or within a few years of 2065 (the target year). The Fund is designed for an investor who plans to withdraw the value of an account in the Fund over a period of many years after the target year. The Fund’s asset allocation will become more conservative over time, meaning that the percentage of assets allocated to stocks will decrease while the percentage of assets allocated to bonds and other fixed income investments will increase. Within seven years after 2065, the Fund’s asset allocation should become similar to that of the Institutional Target Retirement Income Fund. The Fund’s asset allocation among the underlying funds is as follows:
At any given time, the Fund’s asset allocation may be affected by a variety of factors, such as whether the underlying funds are accepting additional investments. The Fund’s indirect stock holdings are a diversified mix of U.S. and foreign large-, mid-, and small-capitalization stocks. The Fund’s indirect bond holdings are a diversified mix of short-, intermediate-, and long-term U.S. government, U.S. agency, and investment-grade U.S. corporate bonds; mortgage-backed and asset-backed securities; and government, agency, corporate, and securitized investment-grade foreign bonds issued in currencies other than the U.S. dollar (but hedged by Vanguard to minimize foreign currency exposure). |
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| Risk [Heading] | rr_RiskHeading | Principal Risks | ||||||||||||
| Risk Narrative [Text Block] | rr_RiskNarrativeTextBlock | The Fund is subject to the risks associated with the stock and bond markets, any of which could cause an investor to lose money. An investment in the Fund is not guaranteed. An investor may experience losses, including losses near, at, or after the target year. There is no guarantee that the Fund will provide adequate income at or after the target year. Because stocks usually are more volatile than bonds and because the Fund currently invests most of its assets in stocks, the Fund’s overall level of risk should be higher than that of funds that invest the majority of their assets in bonds; however, the level of risk should be lower than that of funds investing entirely in stocks. • With approximately 90% of its assets allocated to stocks, the Fund is proportionately subject to 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 is also subject to the following risks associated with investments in foreign stocks: 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 companies in a particular country or region; and 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. Country/regional risk and currency risk are especially high in emerging markets. • With approximately 10% of its assets allocated to bonds, the Fund is proportionately subject to the following bond risks: interest rate risk, which is the chance that bond prices will decline because of rising interest rates; income risk, which is the chance that an underlying fund’s income will decline because of falling interest rates; credit risk, which is the chance that a bond issuer will fail to pay interest or principal in a timely manner or that negative perceptions of the issuer’s ability to make such payments will cause the price of that bond to decline, thus reducing the underlying fund’s return; and call risk, which is the chance that during periods of falling interest rates, issuers of callable bonds may call (redeem) securities with higher coupon rates or interest rates before their maturity dates. An underlying fund would then lose any price appreciation above the bond’s call price and would be forced to reinvest the unanticipated proceeds at lower interest rates, resulting in a decline in the underlying fund’s income. The Fund is also subject to the following risks associated with investments in currency-hedged foreign bonds: country/regional risk, which is the chance that world events—such as political upheaval, financial troubles, or natural disasters—will adversely affect the value and/or liquidity of securities issued by foreign governments, government agencies, or companies; and currency hedging risk, which is the chance that the currency hedging transactions entered into by the underlying international bond fund may not perfectly offset the fund’s foreign currency exposure. • The Fund is also subject to asset allocation risk, which is the chance that the selection of underlying funds, and the allocation of assets to them, will cause the Fund to underperform other funds with a similar investment objective. 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 | The Fund is subject to the risks associated with the stock and bond markets, any of which could cause an investor to lose money. | ||||||||||||
| 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 | The Fund began operations on April 17, 2017, so performance information is not yet available. | ||||||||||||
| Performance One Year or Less [Text] | rr_PerformanceOneYearOrLess | The Fund began operations on April 17, 2017, so performance information is not yet available. | ||||||||||||
| Vanguard Institutional Target Retirement 2065 Fund | Institutional Shares | ||||||||||||||
| Risk/Return: | rr_RiskReturnAbstract | |||||||||||||
| Purchase Fee | rr_MaximumCumulativeSalesChargeOverOther | none | ||||||||||||
| Sales Charge (Load) Imposed on Purchases | rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice | none | ||||||||||||
| Sales Charge (Load) Imposed on Reinvested Dividends | rr_MaximumSalesChargeOnReinvestedDividendsAndDistributionsOverOther | none | ||||||||||||
| Redemption Fee | rr_RedemptionFeeOverRedemption | none | ||||||||||||
| Management Fees | rr_ManagementFeesOverAssets | none | ||||||||||||
| 12b-1 Distribution Fee | rr_DistributionAndService12b1FeesOverAssets | none | ||||||||||||
| Other Expenses | rr_OtherExpensesOverAssets | none | ||||||||||||
| Acquired Fund Fees and Expenses | rr_AcquiredFundFeesAndExpensesOverAssets | 0.10% | ||||||||||||
| Total Annual Fund Operating Expenses | rr_ExpensesOverAssets | 0.10% | ||||||||||||
| 1 Year | rr_ExpenseExampleYear01 | $ 10 | ||||||||||||
| 3 Years | rr_ExpenseExampleYear03 | 32 | ||||||||||||
| 5 Years | rr_ExpenseExampleYear05 | 56 | ||||||||||||
| 10 Years | rr_ExpenseExampleYear10 | 128 | ||||||||||||
| 1 Year | rr_ExpenseExampleNoRedemptionYear01 | 10 | ||||||||||||
| 3 Years | rr_ExpenseExampleNoRedemptionYear03 | 32 | ||||||||||||
| 5 Years | rr_ExpenseExampleNoRedemptionYear05 | 56 | ||||||||||||
| 10 Years | rr_ExpenseExampleNoRedemptionYear10 | $ 128 |
| Label | Element | Value |
|---|---|---|
| Risk/Return: | rr_RiskReturnAbstract | |
| Registrant Name | dei_EntityRegistrantName | VANGUARD CHESTER FUNDS |
| Prospectus Date | rr_ProspectusDate | Apr. 17, 2017 |
| Document Creation Date | dei_DocumentCreationDate | Apr. 17, 2017 |
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