0000932471-17-004693.txt : 20170727 0000932471-17-004693.hdr.sgml : 20170727 20170727113839 ACCESSION NUMBER: 0000932471-17-004693 CONFORMED SUBMISSION TYPE: 485BPOS PUBLIC DOCUMENT COUNT: 89 FILED AS OF DATE: 20170727 DATE AS OF CHANGE: 20170727 EFFECTIVENESS DATE: 20170727 FILER: COMPANY DATA: COMPANY CONFORMED NAME: VANGUARD CHESTER FUNDS CENTRAL INDEX KEY: 0000752177 IRS NUMBER: 232311358 FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: 485BPOS SEC ACT: 1933 Act SEC FILE NUMBER: 002-92948 FILM NUMBER: 17985125 BUSINESS ADDRESS: STREET 1: PO BOX 2600 STREET 2: V26 CITY: VALLEY FORGE STATE: PA ZIP: 19482 BUSINESS PHONE: 6106691000 MAIL ADDRESS: STREET 1: P.O. BOX 2600 STREET 2: V26 CITY: VALLEY FORGE STATE: PA ZIP: 19482 FORMER COMPANY: FORMER CONFORMED NAME: VANGUARD PRIMECAP FUND/ DATE OF NAME CHANGE: 20011121 FORMER COMPANY: FORMER CONFORMED NAME: VANGUARD/PRIMECAP FUND INC DATE OF NAME CHANGE: 19940608 FORMER COMPANY: FORMER CONFORMED NAME: PRIMECAP FUND INC DATE OF NAME CHANGE: 19920703 FILER: COMPANY DATA: COMPANY CONFORMED NAME: VANGUARD CHESTER FUNDS CENTRAL INDEX KEY: 0000752177 IRS NUMBER: 232311358 FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: 485BPOS SEC ACT: 1940 Act SEC FILE NUMBER: 811-04098 FILM NUMBER: 17985126 BUSINESS ADDRESS: STREET 1: PO BOX 2600 STREET 2: V26 CITY: VALLEY FORGE STATE: PA ZIP: 19482 BUSINESS PHONE: 6106691000 MAIL ADDRESS: STREET 1: P.O. BOX 2600 STREET 2: V26 CITY: VALLEY FORGE STATE: PA ZIP: 19482 FORMER COMPANY: FORMER CONFORMED NAME: VANGUARD PRIMECAP FUND/ DATE OF NAME CHANGE: 20011121 FORMER COMPANY: FORMER CONFORMED NAME: VANGUARD/PRIMECAP FUND INC DATE OF NAME CHANGE: 19940608 FORMER COMPANY: FORMER CONFORMED NAME: PRIMECAP FUND INC DATE OF NAME CHANGE: 19920703 0000752177 S000002569 Vanguard Target Retirement Income Fund C000007072 Investor Shares VTINX 0000752177 S000002571 Vanguard Target Retirement 2015 Fund C000007074 Investor Shares VTXVX 0000752177 S000002572 Vanguard Target Retirement 2025 Fund C000007075 Investor Shares VTTVX 0000752177 S000002573 Vanguard Target Retirement 2035 Fund C000007076 Investor Shares VTTHX 0000752177 S000002574 Vanguard Target Retirement 2045 Fund C000007077 Investor Shares VTIVX 0000752177 S000012758 Vanguard Target Retirement 2010 Fund C000034437 Investor Shares VTENX 0000752177 S000012759 Vanguard Target Retirement 2020 Fund C000034438 Investor Shares VTWNX 0000752177 S000012760 Vanguard Target Retirement 2030 Fund C000034439 Investor Shares VTHRX 0000752177 S000012761 Vanguard Target Retirement 2040 Fund C000034440 Investor Shares VFORX 0000752177 S000012762 Vanguard Target Retirement 2050 Fund C000034441 Investor Shares VFIFX 0000752177 S000029700 Vanguard Target Retirement 2055 Fund C000091317 Investor Shares VFFVX 0000752177 S000035453 Vanguard Target Retirement 2060 Fund C000108861 Investor Shares VTTSX 0000752177 S000049258 Vanguard Institutional Target Retirement 2010 Fund C000155395 Institutional Shares VIRTX 0000752177 S000049259 Vanguard Institutional Target Retirement 2055 Fund C000155396 Institutional Shares VIVLX 0000752177 S000049260 Vanguard Institutional Target Retirement 2060 Fund C000155397 Institutional Shares VILVX 0000752177 S000049261 Vanguard Institutional Target Retirement Income Fund C000155398 Institutional Shares VITRX 0000752177 S000049262 Vanguard Institutional Target Retirement 2015 Fund C000155399 Institutional Shares VITVX 0000752177 S000049263 Vanguard Institutional Target Retirement 2020 Fund C000155400 Institutional Shares VITWX 0000752177 S000049264 Vanguard Institutional Target Retirement 2025 Fund C000155401 Institutional Shares VRIVX 0000752177 S000049265 Vanguard Institutional Target Retirement 2030 Fund C000155402 Institutional Shares VTTWX 0000752177 S000049266 Vanguard Institutional Target Retirement 2035 Fund C000155403 Institutional Shares VITFX 0000752177 S000049267 Vanguard Institutional Target Retirement 2040 Fund C000155404 Institutional Shares VIRSX 0000752177 S000049268 Vanguard Institutional Target Retirement 2045 Fund C000155405 Institutional Shares VITLX 0000752177 S000049269 Vanguard Institutional Target Retirement 2050 Fund C000155406 Institutional Shares VTRLX 0000752177 S000056747 Vanguard Institutional Target Retirement 2065 Fund C000180146 Institutional Shares VSXFX 0000752177 S000056748 Vanguard Target Retirement 2065 Fund C000180147 Investor Shares VLXVX 485BPOS 1 merged.htm VANGUARD CHESTER FUNDS XBRL merged.htm - Generated by SEC Publisher for SEC Filing
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. 81
and
 
REGISTRATION STATEMENT (NO. 811-4098) UNDER THE INVESTMENT COMPANY
ACT OF 1940
Amendment No. 82
 
 
 
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 27th day of July, 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 July 27, 2017
Executive Officer
F. William McNabb    
/s/ Emerson U. Fullwood* Trustee July 27, 2017
Emerson U. Fullwood    
/s/ Rajiv L. Gupta* Trustee July 27, 2017
Rajiv L. Gupta    
/s/ Amy Gutmann* Trustee July 27, 2017
Amy Gutmann    
/s/ JoAnn Heffernan Heisen* Trustee July 27, 2017
JoAnn Heffernan Heisen    
/s/ F. Joseph Loughrey* Trustee July 27, 2017
F. Joseph Loughrey    
/s/ Mark Loughridge* Trustee July 27, 2017
Mark Loughridge    
/s/ Scott C. Malpass* Trustee July 27, 2017
Scott C. Malpass    
/s/ André F. Perold* Trustee July 27, 2017
André F. Perold    
/s/ Peter F. Volanakis* Trustee July 27, 2017
Peter F. Volanakis    
/s/ Thomas J. Higgins* Chief Financial Officer July 27, 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

 

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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 (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&#8217;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 may pay transaction costs, such as purchase fees, when it buys and sells securities (or &#8220;turns over&#8221; 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&#8217;s performance. During the most recent fiscal period, the Fund&#8217;s portfolio turnover rate was 9% of the average value of its portfolio. Principal Investment Strategies The Fund invests in other Vanguard mutual funds according to an asset allocation strategy designed for investors currently in retirement. As of March 31, 2017, the Fund&#8217;s asset allocation among the underlying funds was as follows:<br/><br/><table border="0" cellspacing="0"><tr valign="bottom"><td align="left" style="text-indent: 0pt;">&#149;</td><td align="left" style="text-indent: 0pt;">Vanguard Total Bond Market II Index Fund</td><td align="center">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37.4%</td></tr><tr valign="bottom"><td align="left" style="text-indent: 0pt;">&#149;</td><td align="left" style="text-indent: 0pt;">Vanguard Total Stock Market Index Fund</td><td align="center">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18.0%</td></tr><tr valign="bottom"><td align="left" style="text-indent: 0pt;">&#149;</td><td align="left" style="text-indent: 0pt;">Vanguard Short-Term Inflation-Protected Securities Index Fund</td><td align="center">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16.6%</td></tr><tr valign="bottom"><td align="left">&#149;</td><td align="left">Vanguard Total International Bond Index Fund</td><td align="center">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15.9%</td></tr><tr valign="bottom"><td align="left">&#149;</td><td align="left">Vanguard Total International Stock Index Fund</td><td align="center">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.1%</td></tr></table><br/>At any given time, the Fund&#8217;s asset allocation may be affected by a variety of factors, such as whether the underlying funds are accepting additional investments.<br/><br/>The Fund&#8217;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; inflation-protected public obligations issued by the U.S. Treasury; 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).<br/><br/>The Fund&#8217;s indirect stock holdings are a diversified mix of U.S. and foreign large-, mid-, and small-capitalization stocks. 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. There is no guarantee that the Fund will provide adequate income through retirement. Because bonds and short-term investments usually are less volatile than stocks and because the Fund invests most of its assets in bonds and short-term investments, the Fund&#8217;s overall level of risk should be low to moderate.<br/><br/>&#8226; With approximately 70% 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&#8217;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&#8217;s ability to make such payments will cause the price of that bond to decline, thus reducing the underlying fund&#8217;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&#8217;s call price and would be forced to reinvest the unanticipated proceeds at lower interest rates, resulting in a decline in the underlying fund&#8217;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&#8212;such as political upheaval, financial troubles, or natural disasters&#8212;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&#8217;s foreign currency exposure.<br/><br/>&#8226; With approximately 30% 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&#8212;such as political upheaval, financial troubles, or natural disasters&#8212;will adversely affect the value of companies in any one 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.<br/><br/>&#8226; 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.<br/><br/>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 Annual Total Returns &#8212; Vanguard Target Retirement Income Fund Investor Shares The following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund has varied from one calendar year to another over the periods shown. The table shows how the average annual total returns of the Fund compare with those of relevant market indexes and a composite bond/stock index, which have investment characteristics similar to those of the Fund. Keep in mind that the Fund&#8217;s past performance (before and after taxes) does not indicate how the Fund will perform in the future. Updated performance information is available on our website at vanguard.com/performance or by calling Vanguard toll-free at 800-662-7447. During the periods shown in the bar chart, the highest return for a calendar quarter was 7.44% (quarter ended September 30, 2009), and the lowest return for a quarter was &#8211;5.47% (quarter ended December 31, 2008). Average Annual Total Returns for Periods Ended December 31, 2016 Actual after-tax returns depend on your tax situation and may differ from those shown in the preceding table. When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations. Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares may be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder. 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 a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund has varied from one calendar year to another over the periods shown. The table shows how the average annual total returns of the Fund compare with those of relevant market indexes and a composite bond/stock index, which have investment characteristics similar to those of the Fund. Keep in mind that the Fund&#8217;s past performance (before and after taxes) does not indicate how the Fund will perform in the future. vanguard.com/performance 800-662-7447 When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations. Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares may be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder. 0 0 0 0 20 0 0 0 0.0013 0.0013 13 42 73 166 0.0817 -0.1093 0.1428 0.0939 0.0525 0.0823 0.0587 0.0554 -0.0017 0.0525 0.0525 0.0491 0.0488 0.0442 0.0401 0.0391 0.0316 0.0355 0.0352 0.0265 0.0223 0.0434 0.1267 0.1471 0.0726 0.0535 0.051 0.0494 0.09 0.0245 year-to-date return 2017-03-31 0.0744 2009-09-30 lowest return -0.0547 2008-12-31 highest return <div style="display:none">~ http://www.vanguard.com/role/ScheduleAnnualFundOperatingExpenses000013 column period compact * ~</div> <div style="display:none">~ http://www.vanguard.com/role/ScheduleExpenseExampleTransposed000014 column period compact * ~</div> <div style="display:none">~ http://www.vanguard.com/role/ScheduleAverageAnnualTotalReturnsTransposed000017 column period compact * ~</div> <div style="display:none">~ http://www.vanguard.com/role/ScheduleShareholderFees000012 column period compact * ~</div> Vanguard Target Retirement 2010 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<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 (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&#8217;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 may pay transaction costs, such as purchase fees, when it buys and sells securities (or &#8220;turns over&#8221; 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&#8217;s performance. During the most recent fiscal period, the Fund&#8217;s portfolio turnover rate was 6% of the average value of its portfolio. 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 2010 (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&#8217;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 2010, the Fund&#8217;s asset allocation should become similar to that of the Target Retirement Income Fund. As of March 31, , the Fund&#8217;s asset allocation among the underlying funds was as follows:<br/><br/><table border="0" cellspacing="0"> <tr> <td width="2%"></td> <td width="84%"></td> <td width="12%"></td></tr> <tr valign="bottom"> <td align="left" style="text-indent:0.000275pt"> &#8226;</td> <td align="left" style="text-indent:0.000244pt"> Vanguard Total Bond Market II Index Fund</td> <td align="left" style="text-indent:0.004364pt"> 37.1%</td> </tr> <tr valign="bottom"> <td align="left"> &#8226;</td> <td align="left" style="text-indent:0.000092pt"> Vanguard Total Stock Market Index Fund</td> <td align="left"> 18.3%</td> </tr> <tr valign="bottom"> <td align="left"> &#8226;</td> <td align="left"> Vanguard Short-Term Inflation-Protected Securities Index Fund</td> <td align="left"> 16.5%</td> </tr> <tr valign="bottom"> <td align="left"> &#8226;</td> <td align="left"> Vanguard Total International Bond Index Fund</td> <td align="left"> 15.8%</td> </tr> <tr valign="bottom"> <td align="left"> &#8226;</td> <td align="left" style="text-indent:0.000092pt"> Vanguard Total International Stock Index Fund</td> <td align="left"> 12.3%</td> </tr> </table><br/>At any given time, the Fund&#8217;s asset allocation may be affected by a variety of factors, such as whether the underlying funds are accepting additional investments.<br/><br/>The Fund&#8217;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; inflation-protected public obligations issued by the U.S. Treasury; 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).<br/><br/>The Fund&#8217;s indirect stock holdings are a diversified mix of U.S. and foreign large-, mid-, and small-capitalization stocks. 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 fixed income securities such as bonds usually are less volatile than stocks and because the Fund currently invests a significant portion of its assets in fixed income securities, the Fund&#8217;s overall level of risk should be lower than that of funds investing entirely in stocks.<br/><br/>&#8226; With approximately 69% 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&#8217;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&#8217;s ability to make such payments will cause the price of that bond to decline, thus reducing the underlying fund&#8217;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&#8217;s call price and would be forced to reinvest the unanticipated proceeds at lower interest rates, resulting in a decline in the underlying fund&#8217;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&#8212;such as political upheaval, financial troubles, or natural disasters&#8212;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&#8217;s foreign currency exposure.<br/><br/>&#8226; With approximately 31% 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&#8212;such as political upheaval, financial troubles, or natural disasters&#8212;will adversely affect the value of companies in any one 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.<br/><br/>&#8226; 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.<br/><br/>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 following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund has varied from one calendar year to another over the periods shown. The table shows how the average annual total returns of the Fund compare with those of relevant market indexes and a composite bond/stock index, which have investment characteristics similar to those of the Fund. Keep in mind that the Fund&#8217;s past performance (before and after taxes) does not indicate how the Fund will perform in the future. Updated performance information is available on our website at vanguard.com/performance or by calling Vanguard toll-free at 800-662-7447. Annual Total Returns &#8212; Vanguard Target Retirement 2010 Fund Investor Shares Average Annual Total Returns for Periods Ended December 31, 2016 During the periods shown in the bar chart, the highest return for a calendar quarter was 10.55% (quarter ended June 30, 2009), and the lowest return for a quarter was &#8211;10.63% (quarter ended December 31, 2008). Actual after-tax returns depend on your tax situation and may differ from those shown in the preceding table. When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations. Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares may be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder. 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 a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund has varied from one calendar year to another over the periods shown. The table shows how the average annual total returns of the Fund compare with those of relevant market indexes and a composite bond/stock index, which have investment characteristics similar to those of the Fund. Keep in mind that the Fund&#8217;s past performance (before and after taxes) does not indicate how the Fund will perform in the future. vanguard.com/performance 800-662-7447 When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations. Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares may be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder. 0 0 0 0 20 0 0 0 0.0013 0.0013 13 42 73 166 0.077 -0.2067 0.1932 0.1143 0.0337 0.1012 0.091 0.0593 -0.002 0.0522 0.0522 0.0597 0.0461 0.0418 0.0494 0.0371 0.0337 0.0443 0.034 0.0265 0.0223 0.0434 0.1267 0.1471 0.0726 0.0544 0.0616 0.0467 0.06 year-to-date return 2017-03-31 0.0253 0.1055 2009-06-30 lowest return 2008-12-31 highest return <div style="display:none">~ http://www.vanguard.com/role/ScheduleAnnualFundOperatingExpenses000023 column period compact * ~</div> <div style="display:none">~ http://www.vanguard.com/role/ScheduleAnnualTotalReturnsBarChart000026 column period compact * ~</div> <div style="display:none">~ http://www.vanguard.com/role/ScheduleExpenseExampleTransposed000024 column period compact * ~</div> <div style="display:none">~ http://www.vanguard.com/role/ScheduleAverageAnnualTotalReturnsTransposed000027 column period compact * ~</div> <div style="display:none">~ http://www.vanguard.com/role/ScheduleShareholderFees000022 column period compact * ~</div> Vanguard Target Retirement 2015 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<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 (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&#8217;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 may pay transaction costs, such as purchase fees, when it buys and sells securities (or &#8220;turns over&#8221; 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&#8217;s performance. During the most recent fiscal period, the Fund&#8217;s portfolio turnover rate was 8% of the average value of its portfolio. 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 2015 (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&#8217;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 2015, the Fund&#8217;s asset allocation should become similar to that of the Target Retirement Income Fund. As of March 31, 2017, the Fund&#8217;s asset allocation among the underlying funds was as follows:<br/><br/><table border="0" cellspacing="0"> <tr> <td width="2%"></td> <td width="84%"></td> <td width="12%"></td></tr> <tr valign="bottom"> <td align="left"> &#8226;</td> <td align="left"> Vanguard Total Bond Market II Index Fund</td> <td align="left" style="text-indent:0.003937pt"> 31.6%</td> </tr> <tr valign="bottom"> <td align="left" style="text-indent:0.000168pt"> &#8226;</td> <td align="left" style="text-indent:0.000275pt"> Vanguard Total Stock Market Index Fund</td> <td align="left"> 26.8%</td> </tr> <tr valign="bottom"> <td align="left" style="text-indent:0.000168pt"> &#8226;</td> <td align="left" style="text-indent:0.000275pt"> Vanguard Total International Stock Index Fund</td> <td align="left"> 17.9%</td> </tr> <tr valign="bottom"> <td align="left" style="text-indent:0.000168pt"> &#8226;</td> <td align="left" style="text-indent:0.000183pt"> Vanguard Total International Bond Index Fund</td> <td align="left"> 13.4%</td> </tr> <tr valign="bottom"> <td align="left" style="text-indent:0.000168pt"> &#8226;</td> <td align="left" style="text-indent:0.000183pt"> Vanguard Short-Term Inflation-Protected Securities Index Fund</td> <td align="left"> 10.3%</td> </tr> </table><br/>At any given time, the Fund&#8217;s asset allocation may be affected by a variety of factors, such as whether the underlying funds are accepting additional investments.<br/><br/>The Fund&#8217;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; inflation-protected public obligations issued by the U.S. Treasury; 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).<br/><br/>The Fund&#8217;s indirect stock holdings are a diversified mix of U.S. and foreign large-, mid-, and small-capitalization stocks. 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 fixed income securities such as bonds usually are less volatile than stocks and because the Fund currently invests a significant portion of its assets in fixed income securities, the Fund&#8217;s overall level of risk should be lower than that of funds investing entirely in stocks.<br/><br/>&#8226; With approximately 55% 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&#8217;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&#8217;s ability to make such payments will cause the price of that bond to decline, thus reducing the underlying fund&#8217;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&#8217;s call price and would be forced to reinvest the unanticipated proceeds at lower interest rates, resulting in a decline in the underlying fund&#8217;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&#8212;such as political upheaval, financial troubles, or natural disasters&#8212;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&#8217;s foreign currency exposure.<br/><br/>&#8226; With approximately 45% 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&#8212;such as political upheaval, financial troubles, or natural disasters&#8212;will adversely affect the value of companies in any one 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.<br/><br/>&#8226; 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.<br/><br/>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 following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund has varied from one calendar year to another over the periods shown. The table shows how the average annual total returns of the Fund compare with those of relevant market indexes and a composite bond/stock index, which have investment characteristics similar to those of the Fund. Keep in mind that the Fund&#8217;s past performance (before and after taxes) does not indicate how the Fund will perform in the future. Updated performance information is available on our website at vanguard.com/performance or by calling Vanguard toll-free at 800-662-7447. Annual Total Returns &#8212; Vanguard Target Retirement 2015 Fund Investor Shares During the periods shown in the bar chart, the highest return for a calendar quarter was 12.21% (quarter ended June 30, 2009), and the lowest return for a quarter was &#8211;12.54% (quarter ended December 31, 2008). Average Annual Total Returns for Periods Ended December 31, 2016 Actual after-tax returns depend on your tax situation and may differ from those shown in the preceding table. When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations. Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares may be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder. 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 a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund has varied from one calendar year to another over the periods shown. The table shows how the average annual total returns of the Fund compare with those of relevant market indexes and a composite bond/stock index, which have investment characteristics similar to those of the Fund. Keep in mind that the Fund&#8217;s past performance (before and after taxes) does not indicate how the Fund will perform in the future. vanguard.com/performance 800-662-7447 When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations. Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares may be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder. 0 0 0 0 20 0 0 0 0.0014 0.0014 14 45 79 179 0.0755 -0.2406 0.213 0.1247 0.0171 0.1137 0.13 0.0656 -0.0046 0.0616 0.0616 0.0722 0.0485 0.0495 0.0614 0.0394 0.041 0.0545 0.0362 0.0265 0.0223 0.0434 0.1267 0.1471 0.0726 0.064 0.0743 0.049 0.08 year-to-date return 2017-03-31 0.0338 0.1221 2009-06-30 lowest return -0.1254 2008-12-31 highest return <div style="display:none">~ http://www.vanguard.com/role/ScheduleAnnualFundOperatingExpenses000033 column period compact * ~</div> <div style="display:none">~ http://www.vanguard.com/role/ScheduleAnnualTotalReturnsBarChart000036 column period compact * ~</div> <div style="display:none">~ http://www.vanguard.com/role/ScheduleExpenseExampleTransposed000034 column period compact * ~</div> <div style="display:none">~ http://www.vanguard.com/role/ScheduleAverageAnnualTotalReturnsTransposed000037 column period compact * ~</div> <div style="display:none">~ http://www.vanguard.com/role/ScheduleShareholderFees000032 column period compact * ~</div> Vanguard Target Retirement 2020 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<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 (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&#8217;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 may pay transaction costs, such as purchase fees, when it buys and sells securities (or &#8220;turns over&#8221; 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&#8217;s performance. During the most recent fiscal period, the Fund&#8217;s portfolio turnover rate was 8% of the average value of its portfolio. 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 2020 (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&#8217;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 2020, the Fund&#8217;s asset allocation should become similar to that of the Target Retirement Income Fund. As of March 31, 2017, the Fund&#8217;s asset allocation among the underlying funds was as follows: <br/><br/><table border="0" cellspacing="0"><tr valign="bottom"><td align="left" style="text-indent: 0pt;">&#149;</td><td align="left" style="text-indent: 0pt;">Vanguard Total Stock Market Index Fund</td><td align="center">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33.5%</td></tr><tr valign="bottom"><td align="left" style="text-indent: 0pt;">&#149;</td><td align="left" style="text-indent: 0pt;">Vanguard Total Bond Market II Index Fund</td><td align="center">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28.7%</td></tr><tr valign="bottom"><td align="left" style="text-indent: 0pt;">&#149;</td><td align="left" style="text-indent: 0pt;">Vanguard Total International Stock Index Fund</td><td align="center">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22.8%</td></tr><tr valign="bottom"><td align="left">&#149;</td><td align="left">Vanguard Total International Bond Index Fund</td><td align="center">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.1%</td></tr><tr valign="bottom"><td align="left">&#149;</td><td align="left">Vanguard Short-Term Inflation-Protected Securities Index Fund</td><td align="center">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.9%</td></tr></table> <br/>At any given time, the Fund&#8217;s asset allocation may be affected by a variety of factors, such as whether the underlying funds are accepting additional investments.<br/><br/>The Fund&#8217;s indirect stock holdings are a diversified mix of U.S. and foreign large-, mid-, and small-capitalization stocks.<br/><br/>The Fund&#8217;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; inflation-protected public obligations issued by the U.S. Treasury; 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&#8217;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.<br/><br/>&#8226; With approximately 56% 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&#8212;such as political upheaval, financial troubles, or natural disasters&#8212;will adversely affect the value of companies in any one 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.<br/><br/>&#8226; With approximately 44% 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&#8217;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&#8217;s ability to make such payments will cause the price of that bond to decline, thus reducing the underlying fund&#8217;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&#8217;s call price and would be forced to reinvest the unanticipated proceeds at lower interest rates, resulting in a decline in the underlying fund&#8217;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&#8212;such as political upheaval, financial troubles, or natural disasters&#8212;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&#8217;s foreign currency exposure.<br/><br/>&#8226; 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.<br/><br/>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 following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund has varied from one calendar year to another over the periods shown. The table shows how the average annual total returns of the Fund compare with those of relevant market indexes and a composite stock/bond index, which have investment characteristics similar to those of the Fund. Keep in mind that the Fund&#8217;s past performance (before and after taxes) does not indicate how the Fund will perform in the future. Updated performance information is available on our website at vanguard.com/performance or by calling Vanguard toll-free at 800-662-7447. Annual Total Returns &#8212; Vanguard Target Retirement 2020 Fund Investor Shares During the periods shown in the bar chart, the highest return for a calendar quarter was 13.49% (quarter ended June 30, 2009), and the lowest return for a quarter was &#8211;14.51% (quarter ended December 31, 2008). Average Annual Total Returns for Periods Ended December 31, 2016 Actual after-tax returns depend on your tax situation and may differ from those shown in the preceding table. When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations. Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares may be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder. 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 a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund has varied from one calendar year to another over the periods shown. The table shows how the average annual total returns of the Fund compare with those of relevant market indexes and a composite stock/bond index, which have investment characteristics similar to those of the Fund. Keep in mind that the Fund&#8217;s past performance (before and after taxes) does not indicate how the Fund will perform in the future. vanguard.com/performance 800-662-7447 When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations. Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares may be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder. 0 0 0 0 20 0 0 0 0.0014 0.0014 14 45 79 179 0.0752 -0.2704 0.231 0.1312 0.006 0.1235 0.1585 0.0711 -0.0068 0.0695 0.0695 0.0817 0.0499 0.0609 0.0737 0.043 0.0431 0.0624 0.0378 0.1267 0.1471 0.0726 0.0265 0.0223 0.0434 0.0717 0.0842 0.0513 0.08 year-to-date return 2017-03-31 0.041 0.1349 2009-06-30 lowest return -0.1451 2008-12-31 highest return <div style="display:none">~ http://www.vanguard.com/role/ScheduleAnnualFundOperatingExpenses000043 column period compact * ~</div> <div style="display:none">~ http://www.vanguard.com/role/ScheduleAnnualTotalReturnsBarChart000046 column period compact * ~</div> <div style="display:none">~ http://www.vanguard.com/role/ScheduleExpenseExampleTransposed000044 column period compact * ~</div> <div style="display:none">~ http://www.vanguard.com/role/ScheduleAverageAnnualTotalReturnsTransposed000047 column period compact * ~</div> <div style="display:none">~ http://www.vanguard.com/role/ScheduleShareholderFees000042 column period compact * ~</div> Vanguard Target Retirement 2025 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<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 (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&#8217;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 may pay transaction costs, such as purchase fees, when it buys and sells securities (or &#8220;turns over&#8221; 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&#8217;s performance. During the most recent fiscal period, the Fund&#8217;s portfolio turnover rate was 11% of the average value of its portfolio. 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 2025 (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&#8217;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 2025, the Fund&#8217;s asset allocation should become similar to that of the Target Retirement Income Fund. As of March 31, 2017, the Fund&#8217;s asset allocation among the underlying funds was as follows:<br/><br/><table border="0" cellspacing="0"> <tr> <td width="2%"></td> <td width="73%"></td> <td width="24%"></td></tr> <tr valign="bottom"> <td align="left"> &#8226;</td> <td align="left" style="text-indent:0.000092pt"> Vanguard Total Stock Market Index Fund</td> <td align="right"> 38.6%</td> </tr> <tr valign="bottom"> <td align="left"> &#8226;</td> <td align="left" style="text-indent:0.000092pt"> Vanguard Total International Stock Index Fund</td> <td align="right"> 26.0%</td> </tr> <tr valign="bottom"> <td align="left"> &#8226;</td> <td align="left"> Vanguard Total Bond Market II Index Fund</td> <td align="right"> 24.9%</td> </tr> <tr valign="bottom"> <td align="left"> &#8226;</td> <td align="left"> Vanguard Total International Bond Index Fund</td> <td align="right"> 10.5%</td> </tr> </table><br/> At any given time, the Fund&#8217;s asset allocation may be affected by a variety of factors, such as whether the underlying funds are accepting additional investments.<br/><br/>The Fund&#8217;s indirect stock holdings are a diversified mix of U.S. and foreign large-, mid-, and small-capitalization stocks.<br/><br/>The Fund&#8217;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&#8217;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.<br/><br/>&#8226; With approximately 65% 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&#8212;such as political upheaval, financial troubles, or natural disasters&#8212;will adversely affect the value of companies in any one 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.<br/><br/>&#8226; With approximately 35% 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&#8217;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&#8217;s ability to make such payments will cause the price of that bond to decline, thus reducing the underlying fund&#8217;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&#8217;s call price and would be forced to reinvest the unanticipated proceeds at lower interest rates, resulting in a decline in the underlying fund&#8217;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&#8212;such as political upheaval, financial troubles, or natural disasters&#8212;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&#8217;s foreign currency exposure.<br/><br/>&#8226; 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.<br/><br/>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 following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund has varied from one calendar year to another over the periods shown. The table shows how the average annual total returns of the Fund compare with those of relevant market indexes and a composite stock/bond index, which have investment characteristics similar to those of the Fund. Keep in mind that the Fund&#8217;s past performance (before and after taxes) does not indicate how the Fund will perform in the future. Updated performance information is available on our website at vanguard.com/performance or by calling Vanguard toll-free at 800-662-7447. Annual Total Returns &#8212; Vanguard Target Retirement 2025 Fund Investor Shares Average Annual Total Returns for Periods Ended December 31, 2016 During the periods shown in the bar chart, the highest return for a calendar quarter was 14.84% (quarter ended June 30, 2009), and the lowest return for a quarter was &#8211;16.48% (quarter ended December 31, 2008). Actual after-tax returns depend on your tax situation and may differ from those shown in the preceding table. When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations. Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares may be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder. 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 a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund has varied from one calendar year to another over the periods shown. The table shows how the average annual total returns of the Fund compare with those of relevant market indexes and a composite stock/bond index, which have investment characteristics similar to those of the Fund. Keep in mind that the Fund&#8217;s past performance (before and after taxes) does not indicate how the Fund will perform in the future. vanguard.com/performance 800-662-7447 When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations. Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares may be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder. 0 0 0 0 20 0 0 0 0.0014 0.0014 14 45 79 179 0.0759 -0.3005 0.2481 0.1384 -0.0037 0.1329 0.1814 0.0717 -0.0085 0.0748 0.0748 0.0886 0.05 0.0666 0.0803 0.043 0.0463 0.0682 0.038 0.1267 0.1471 0.0726 0.0265 0.0223 0.0434 0.0767 0.091 0.0515 0.11 14 45 79 179 year-to-date return 2017-03-31 0.0459 0.1484 2009-06-30 lowest return -0.1648 2008-12-31 highest return <div style="display:none">~ http://www.vanguard.com/role/ScheduleAnnualFundOperatingExpenses000053 column period compact * ~</div> <div style="display:none">~ http://www.vanguard.com/role/ScheduleAnnualTotalReturnsBarChart000056 column period compact * ~</div> <div style="display:none">~ http://www.vanguard.com/role/ScheduleExpenseExampleTransposed000054 column period compact * ~</div> <div style="display:none">~ http://www.vanguard.com/role/ScheduleAverageAnnualTotalReturnsTransposed000057 column period compact * ~</div> <div style="display:none">~ http://www.vanguard.com/role/ScheduleShareholderFees000052 column period compact * ~</div> Vanguard Target Retirement 2030 Fund Investment Objective The Fund seeks to provide capital appreciation and current income consistent with its current asset allocation. Fees and Expenses 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 (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&#8217;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 may pay transaction costs, such as purchase fees, when it buys and sells securities (or &#8220;turns over&#8221; 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&#8217;s performance. During the most recent fiscal period, the Fund&#8217;s portfolio turnover rate was 9% of the average value of its portfolio. 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 2030 (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&#8217;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 2030, the Fund&#8217;s asset allocation should become similar to that of the Target Retirement Income Fund. As of March 31, 2017, the Fund&#8217;s asset allocation among the underlying funds was as follows:<br/><br/><table border="0" cellspacing="0"> <tr> <td width="2%"></td> <td width="76%"></td> <td width="20%"></td></tr> <tr valign="bottom"> <td align="left">&#149;</td> <td align="left" style="text-indent:0.000092pt"> Vanguard Total Stock Market Index Fund</td> <td align="right"> 43.1%</td> </tr> <tr valign="bottom"> <td align="left">&#149;</td> <td align="left"> Vanguard Total International Stock Index Fund</td> <td align="right"> 28.9%</td> </tr> <tr valign="bottom"> <td align="left">&#149;</td> <td align="left" style="text-indent:0.000092pt"> Vanguard Total Bond Market II Index Fund</td> <td align="right"> 19.7%</td> </tr> <tr valign="bottom"> <td align="left">&#149;</td> <td align="left"> Vanguard Total International Bond Index Fund</td> <td align="right"> 8.3%</td> </tr> </table><br/>At any given time, the Fund&#8217;s asset allocation may be affected by a variety of factors, such as whether the underlying funds are accepting additional investments.<br/><br/>The Fund&#8217;s indirect stock holdings are a diversified mix of U.S. and foreign large-, mid-, and small-capitalization stocks.<br/><br/>The Fund&#8217;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&#8217;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.<br/><br/>&#149; With approximately 72% 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&#8212;such as political upheaval, financial troubles, or natural disasters&#8212;will adversely affect the value of companies in any one 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.<br/><br/>&#149; With approximately 28% 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&#8217;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&#8217;s ability to make such payments will cause the price of that bond to decline, thus reducing the underlying fund&#8217;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&#8217;s call price and would be forced to reinvest the unanticipated proceeds at lower interest rates, resulting in a decline in the underlying fund&#8217;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&#8212;such as political upheaval, financial troubles, or natural disasters&#8212;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&#8217;s foreign currency exposure.<br/><br/>&#149; 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.<br/><br/>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 following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund has varied from one calendar year to another over the periods shown. The table shows how the average annual total returns of the Fund compare with those of relevant market indexes and a composite stock/bond index, which have investment characteristics similar to those of the Fund. Keep in mind that the Fund&#8217;s past performance (before and after taxes) does not indicate how the Fund will perform in the future. Updated performance information is available on our website at vanguard.com/performance or by calling Vanguard toll-free at 800-662-7447. Annual Total Returns &#8212; Vanguard Target Retirement 2030 Fund Investor Shares Average Annual Total Returns for Periods Ended December 31, 2016 During the periods shown in the bar chart, the highest return for a calendar quarter was 16.23% (quarter ended June 30, 2009), and the lowest return for a quarter was &#8211;18.45% (quarter ended December 31, 2008). Actual after-tax returns depend on your tax situation and may differ from those shown in the preceding table. When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations. Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares may be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder. 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 a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund has varied from one calendar year to another over the periods shown. The table shows how the average annual total returns of the Fund compare with those of relevant market indexes and a composite stock/bond index, which have investment characteristics similar to those of the Fund. Keep in mind that the Fund&#8217;s past performance (before and after taxes) does not indicate how the Fund will perform in the future. vanguard.com/performance 800-662-7447 When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations. Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares may be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder. 0 0 0 0 20 0 0 0 0.0015 0.0015 15 48 85 192 15 48 85 192 0.0749 -0.3291 0.2672 0.1443 -0.0127 0.1424 0.2049 0.0717 -0.0103 0.0785 0.0785 0.095 0.0498 0.071 0.0879 0.044 0.0479 0.0738 0.0384 0.1267 0.1471 0.0726 0.0265 0.0223 0.0434 0.0811 0.0977 0.0514 0.09 year-to-date return 2017-03-31 0.051 0.1623 2009-06-30 lowest return -0.1845 2008-12-31 highest return <div style="display:none">~ http://www.vanguard.com/role/ScheduleAnnualFundOperatingExpenses000063 column period compact * ~</div> <div style="display:none">~ http://www.vanguard.com/role/ScheduleAnnualTotalReturnsBarChart000066 column period compact * ~</div> <div style="display:none">~ http://www.vanguard.com/role/ScheduleAverageAnnualTotalReturnsTransposed000067 column period compact * ~</div> <div style="display:none">~ http://www.vanguard.com/role/ScheduleShareholderFees000062 column period compact * ~</div> Vanguard Target Retirement 2035 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<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 (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&#8217;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 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 2035 (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&#8217;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 2035, the Fund&#8217;s asset allocation should become similar to that of the Target Retirement Income Fund. As of March 31, 2017, the Fund&#8217;s asset allocation among the underlying funds was as follows:<br/><br/><table border="0" cellspacing="0"> <tr> <td width="2%"></td> <td width="76%"></td> <td width="20%"></td></tr> <tr valign="bottom"> <td align="left">&#149;</td> <td align="left" style="text-indent:0.000092pt"> Vanguard Total Stock Market Index Fund</td> <td align="right"> 47.6%</td> </tr> <tr valign="bottom"> <td align="left">&#149;</td> <td align="left"> Vanguard Total International Stock Index Fund</td> <td align="right"> 32.0%</td> </tr> <tr valign="bottom"> <td align="left">&#149;</td> <td align="left" style="text-indent:0.000092pt"> Vanguard Total Bond Market II Index Fund</td> <td align="right"> 14.4%</td> </tr> <tr valign="bottom"> <td align="left">&#149;</td> <td align="left"> Vanguard Total International Bond Index Fund</td> <td align="right"> 6.0%</td> </tr> </table><br/>At any given time, the Fund&#8217;s asset allocation may be affected by a variety of factors, such as whether the underlying funds are accepting additional investments.<br/><br/>The Fund&#8217;s indirect stock holdings are a diversified mix of U.S. and foreign large-, mid-, and small-capitalization stocks.<br/><br/>The Fund&#8217;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&#8217;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.<br/><br/>&#149; With approximately 80% 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&#8212;such as political upheaval, financial troubles, or natural disasters&#8212;will adversely affect the value of companies in any one 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.<br/><br/>&#149; With approximately 20% 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&#8217;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&#8217;s ability to make such payments will cause the price of that bond to decline, thus reducing the underlying fund&#8217;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&#8217;s call price and would be forced to reinvest the unanticipated proceeds at lower interest rates, resulting in a decline in the underlying fund&#8217;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&#8212;such as political upheaval, financial troubles, or natural disasters&#8212;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&#8217;s foreign currency exposure.<br/><br/>&#149; 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.<br/><br/>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 following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund has varied from one calendar year to another over the periods shown. The table shows how the average annual total returns of the Fund compare with those of relevant market indexes and a composite stock/bond index, which have investment characteristics similar to those of the Fund. Keep in mind that the Fund&#8217;s past performance (before and after taxes) does not indicate how the Fund will perform in the future. Updated performance information is available on our website at vanguard.com/performance or by calling Vanguard toll-free at 800-662-7447. Annual Total Returns &#8212; Vanguard Target Retirement 2035 Fund Investor Shares During the periods shown in the bar chart, the highest return for a calendar quarter was 17.27% (quarter ended June 30, 2009), and the lowest return for a quarter was &#8211;19.72% (quarter ended December 31, 2008). Average Annual Total Returns for Periods Ended December 31, 2016 Actual after-tax returns depend on your tax situation and may differ from those shown in the preceding table. When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations. Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares may be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder. The Fund may pay transaction costs, such as purchase fees, when it buys and sells securities (or &#8220;turns over&#8221; 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&#8217;s performance. During the most recent fiscal period, the Fund&#8217;s portfolio turnover rate was 10% of the average value of its portfolio. 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 a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund has varied from one calendar year to another over the periods shown. The table shows how the average annual total returns of the Fund compare with those of relevant market indexes and a composite stock/bond index, which have investment characteristics similar to those of the Fund. Keep in mind that the Fund&#8217;s past performance (before and after taxes) does not indicate how the Fund will perform in the future. vanguard.com/performance 800-662-7447 When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations. Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares may be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder. 0 0 0 0 20 0 0 0 0.0015 0.0015 15 48 85 192 15 48 85 192 0.0749 -0.3466 0.2817 0.1514 -0.0224 0.1516 0.2282 0.0724 -0.0126 0.0826 0.0826 0.1015 0.0509 0.0747 0.094 0.0449 0.0515 0.0794 0.0395 0.1267 0.1471 0.0726 0.0265 0.0223 0.0434 0.0855 0.1042 0.0524 0.1 year-to-date return 2017-03-31 0.0552 0.1727 2009-06-30 lowest return -0.1972 2008-12-31 highest return <div style="display:none">~ http://www.vanguard.com/role/ScheduleAnnualFundOperatingExpenses000073 column period compact * ~</div> <div style="display:none">~ http://www.vanguard.com/role/ScheduleAnnualTotalReturnsBarChart000076 column period compact * ~</div> <div style="display:none">~ http://www.vanguard.com/role/ScheduleExpenseExampleTransposed000074 column period compact * ~</div> <div style="display:none">~ http://www.vanguard.com/role/ScheduleAverageAnnualTotalReturnsTransposed000077 column period compact * ~</div> <div style="display:none">~ http://www.vanguard.com/role/ScheduleShareholderFees000072 column period compact * ~</div> Vanguard Target Retirement 2040 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<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 (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&#8217;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 may pay transaction costs, such as purchase fees, when it buys and sells securities (or &#8220;turns over&#8221; 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&#8217;s performance. During the most recent fiscal period, the Fund&#8217;s portfolio turnover rate was 8% of the average value of its portfolio. 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 2040 (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&#8217;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 2040, the Fund&#8217;s asset allocation should become similar to that of the Target Retirement Income Fund. As of March 31, 2017, the Fund&#8217;s asset allocation among the underlying funds was as follows:<br/><br/><table border="0" cellspacing="0"><tr valign="bottom"><td align="left" style="text-indent: 0pt;">&#149;</td><td align="left" style="text-indent: 0pt;">Vanguard Total Stock Market Index Fund</td><td align="center">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51.9%</td></tr><tr valign="bottom"><td align="left" style="text-indent: 0pt;">&#149;</td><td align="left" style="text-indent: 0pt;">Vanguard Total International Stock Index Fund</td><td align="center">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35.0%</td></tr><tr valign="bottom"><td align="left" style="text-indent: 0pt;">&#149;</td><td align="left" style="text-indent: 0pt;">Vanguard Total Bond Market II Index Fund</td><td align="center">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.2%</td></tr><tr valign="bottom"><td align="left">&#149;</td><td align="left">Vanguard Total International Bond Index Fund</td><td align="center">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.9%</td></tr></table><br/> At any given time, the Fund&#8217;s asset allocation may be affected by a variety of factors, such as whether the underlying funds are accepting additional investments.<br/><br/>The Fund&#8217;s indirect stock holdings are a diversified mix of U.S. and foreign large-, mid-, and small-capitalization stocks.<br/><br/>The Fund&#8217;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&#8217;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.<br/><br/>&#8226; With approximately 87% 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&#8212;such as political upheaval, financial troubles, or natural disasters&#8212;will adversely affect the value of companies in any one 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.<br/><br/>&#8226; With approximately 13% 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&#8217;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&#8217;s ability to make such payments will cause the price of that bond to decline, thus reducing the underlying fund&#8217;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&#8217;s call price and would be forced to reinvest the unanticipated proceeds at lower interest rates, resulting in a decline in the underlying fund&#8217;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&#8212;such as political upheaval, financial troubles, or natural disasters&#8212;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&#8217;s foreign currency exposure.<br/><br/>&#8226; 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.<br/><br/>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 following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund has varied from one calendar year to another over the periods shown. The table shows how the average annual total returns of the Fund compare with those of relevant market indexes and a composite stock/bond index, which have investment characteristics similar to those of the Fund. Keep in mind that the Fund&#8217;s past performance (before and after taxes) does not indicate how the Fund will perform in the future. Updated performance information is available on our website at vanguard.com/performance or by calling Vanguard toll-free at 800-662-7447. Annual Total Returns &#8212; Vanguard Target Retirement 2040 Fund Investor Shares During the periods shown in the bar chart, the highest return for a calendar quarter was 17.13% (quarter ended June 30, 2009), and the lowest return for a quarter was &#8211;19.62% (quarter ended December 31, 2008). Average Annual Total Returns for Periods Ended December 31, 2016 Actual after-tax returns depend on your tax situation and may differ from those shown in the preceding table. When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations. Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares may be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder. 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 a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund has varied from one calendar year to another over the periods shown. The table shows how the average annual total returns of the Fund compare with those of relevant market indexes and a composite stock/bond index, which have investment characteristics similar to those of the Fund. Keep in mind that the Fund&#8217;s past performance (before and after taxes) does not indicate how the Fund will perform in the future. vanguard.com/performance 800-662-7447 When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations. Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares may be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder. 0 0 0 0 20 0 0 0 0.0016 0.0016 16 52 90 205 0.0748 -0.3453 0.2832 0.1517 -0.0255 0.1556 0.2437 0.0715 -0.0159 0.0873 0.0873 0.1051 0.0526 0.0804 0.0989 0.0475 0.0536 0.0826 0.0411 0.1267 0.1471 0.0726 0.0265 0.0223 0.0434 0.0898 0.108 0.0541 0.08 16 52 90 205 year-to-date return 2017-03-31 0.0602 highest return 0.1713 2009-06-30 lowest return -0.1962 2008-12-31 <div style="display:none">~ http://www.vanguard.com/role/ScheduleAnnualFundOperatingExpenses000083 column period compact * ~</div> <div style="display:none">~ http://www.vanguard.com/role/ScheduleAnnualTotalReturnsBarChart000086 column period compact * ~</div> <div style="display:none">~ http://www.vanguard.com/role/ScheduleExpenseExampleTransposed000084 column period compact * ~</div> <div style="display:none">~ http://www.vanguard.com/role/ScheduleAverageAnnualTotalReturnsTransposed000087 column period compact * ~</div> <div style="display:none">~ http://www.vanguard.com/role/ScheduleShareholderFees000082 column period compact * ~</div> Vanguard Target Retirement 2045 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 <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 (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&#8217;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 may pay transaction costs, such as purchase fees, when it buys and sells securities (or &#8220;turns over&#8221; 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&#8217;s performance. During the most recent fiscal period, the Fund&#8217;s portfolio turnover rate was 8% of the average value of its portfolio. 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 2045 (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&#8217;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 2045, the Fund&#8217;s asset allocation should become similar to that of the Target Retirement Income Fund. As of March 31, 2017, the Fund&#8217;s asset allocation among the underlying funds was as follows:<br/><br/><table border="0" cellspacing="0"><tr valign="bottom"><td align="left" style="text-indent: 0pt;">&#149;</td><td align="left" style="text-indent: 0pt;">Vanguard Total Stock Market Index Fund</td><td align="center">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53.7%</td></tr><tr valign="bottom"><td align="left" style="text-indent: 0pt;">&#149;</td><td align="left" style="text-indent: 0pt;">Vanguard Total International Stock Index Fund</td><td align="center">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36.2%</td></tr><tr valign="bottom"><td align="left" style="text-indent: 0pt;">&#149;</td><td align="left" style="text-indent: 0pt;">Vanguard Total Bond Market II Index Fund</td><td align="center">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.1%</td></tr><tr valign="bottom"><td align="left">&#149;</td><td align="left">Vanguard Total International Bond Index Fund</td><td align="center">&nbsp;&nbsp;3.0%</td></tr></table> <br/>At any given time, the Fund&#8217;s asset allocation may be affected by a variety of factors, such as whether the underlying funds are accepting additional investments.<br/><br/>The Fund&#8217;s indirect stock holdings are a diversified mix of U.S. and foreign large-, mid-, and small-capitalization stocks.<br/><br/>The Fund&#8217;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&#8217;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.<br/><br/>&#8226; 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&#8212;such as political upheaval, financial troubles, or natural disasters&#8212;will adversely affect the value of companies in any one 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.<br/><br/>&#8226; 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&#8217;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&#8217;s ability to make such payments will cause the price of that bond to decline, thus reducing the underlying fund&#8217;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&#8217;s call price and would be forced to reinvest the unanticipated proceeds at lower interest rates, resulting in a decline in the underlying fund&#8217;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&#8212;such as political upheaval, financial troubles, or natural disasters&#8212;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&#8217;s foreign currency exposure.<br/><br/>&#8226; 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.<br/><br/>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 following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund has varied from one calendar year to another over the periods shown. The table shows how the average annual total returns of the Fund compare with those of relevant market indexes and a composite stock/bond index, which have investment characteristics similar to those of the Fund. Keep in mind that the Fund&#8217;s past performance (before and after taxes) does not indicate how the Fund will perform in the future. Updated performance information is available on our website at vanguard.com/performance or by calling Vanguard toll-free at 800-662-7447. Annual Total Returns &#8212; Vanguard Target Retirement 2045 Fund Investor Shares During the periods shown in the bar chart, the highest return for a calendar quarter was 17.15% (quarter ended June 30, 2009), and the lowest return for a quarter was &#8211;19.65% (quarter ended December 31, 2008). Average Annual Total Returns for Periods Ended December 31, 2016 Actual after-tax returns depend on your tax situation and may differ from those shown in the preceding table. When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations. Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares may be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder. 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 a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund has varied from one calendar year to another over the periods shown. The table shows how the average annual total returns of the Fund compare with those of relevant market indexes and a composite stock/bond index, which have investment characteristics similar to those of the Fund. Keep in mind that the Fund&#8217;s past performance (before and after taxes) does not indicate how the Fund will perform in the future. vanguard.com/performance 800-662-7447 When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations. Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares may be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder. 0 0 0 0 20 0 0 0 0.0016 0.0016 16 52 90 205 0.0747 -0.3456 0.2815 0.1519 -0.0251 0.1558 0.2437 0.0716 -0.0157 0.0887 0.0887 0.1054 0.0527 0.0817 0.099 0.0471 0.0546 0.083 0.0411 0.1267 0.1471 0.0726 0.0265 0.0223 0.0434 0.0913 0.1083 0.0543 0.08 16 52 90 205 year-to-date return 2017-03-31 0.0619 highest return 0.1715 2009-06-30 lowest return -0.1965 2008-12-31 <div style="display:none">~ http://www.vanguard.com/role/ScheduleAnnualFundOperatingExpenses000093 column period compact * ~</div> <div style="display:none">~ http://www.vanguard.com/role/ScheduleAnnualTotalReturnsBarChart000096 column period compact * ~</div> <div style="display:none">~ http://www.vanguard.com/role/ScheduleExpenseExampleTransposed000094 column period compact * ~</div> <div style="display:none">~ http://www.vanguard.com/role/ScheduleAverageAnnualTotalReturnsTransposed000097 column period compact * ~</div> <div style="display:none">~ http://www.vanguard.com/role/ScheduleShareholderFees000092 column period compact * ~</div> Vanguard Target Retirement 2050 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<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 (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&#8217;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 may pay transaction costs, such as purchase fees, when it buys and sells securities (or &#8220;turns over&#8221; 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&#8217;s performance. During the most recent fiscal period, the Fund&#8217;s portfolio turnover rate was 5% of the average value of its portfolio. 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 2050 (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&#8217;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 2050, the Fund&#8217;s asset allocation should become similar to that of the Target Retirement Income Fund. As of March 31, 2017, the Fund&#8217;s asset allocation among the underlying funds was as follows:<br/><br/><table border="0" cellspacing="0"> <tr> <td width="2%"></td> <td width="74%"></td> <td width="23%"></td></tr> <tr valign="bottom"> <td align="left"> &#8226;</td> <td align="left"> Vanguard Total Stock Market Index Fund</td> <td align="right"> 54.0%</td> </tr> <tr valign="bottom"> <td align="left"> &#8226;</td> <td align="left"> Vanguard Total International Stock Index Fund</td> <td align="right"> 35.9%</td> </tr> <tr valign="bottom"> <td align="left" style="text-indent:0.000168pt"> &#8226;</td> <td align="left" style="text-indent:0.000092pt"> Vanguard Total Bond Market II Index Fund</td> <td align="right"> 7.1%</td> </tr> <tr valign="bottom"> <td align="left" style="text-indent:0.000168pt"> &#8226;</td> <td align="left" style="text-indent:0.000092pt"> Vanguard Total International Bond Index Fund</td> <td align="center"> 3.0%</td> </tr> </table><br/>At any given time, the Fund&#8217;s asset allocation may be affected by a variety of factors, such as whether the underlying funds are accepting additional investments.<br/><br/>The Fund&#8217;s indirect stock holdings are a diversified mix of U.S. and foreign large-, mid-, and small-capitalization stocks.<br/><br/>The Fund&#8217;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&#8217;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.<br/><br/>&#8226; 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&#8212;such as political upheaval, financial troubles, or natural disasters&#8212;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.<br/><br/>&#8226; 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&#8217;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&#8217;s ability to make such payments will cause the price of that bond to decline, thus reducing the underlying fund&#8217;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&#8217;s call price and would be forced to reinvest the unanticipated proceeds at lower interest rates, resulting in a decline in the underlying fund&#8217;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&#8212;such as political upheaval, financial troubles, or natural disasters&#8212;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&#8217;s foreign currency exposure.<br/><br/>&#8226; 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.<br/><br/>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 following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund has varied from one calendar year to another over the periods shown. The table shows how the average annual total returns of the Fund compare with those of relevant market indexes and a composite stock/bond index, which have investment characteristics similar to those of the Fund. Keep in mind that the Fund&#8217;s past performance (before and after taxes) does not indicate how the Fund will perform in the future. Updated performance information is available on our website at vanguard.com/performance or by calling Vanguard toll-free at 800-662-7447. Annual Total Returns &#8212; Vanguard Target Retirement 2050 Fund Investor Shares During the periods shown in the bar chart, the highest return for a calendar quarter was 17.23% (quarter ended June 30, 2009), and the lowest return for a quarter was &#8211;19.71% (quarter ended December 31, 2008). Average Annual Total Returns for Periods Ended December 31, 2016 Actual after-tax returns depend on your tax situation and may differ from those shown in the preceding table. When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations. Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares may be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder. 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 a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund has varied from one calendar year to another over the periods shown. The table shows how the average annual total returns of the Fund compare with those of relevant market indexes and a composite stock/bond index, which have investment characteristics similar to those of the Fund. Keep in mind that the Fund&#8217;s past performance (before and after taxes) does not indicate how the Fund will perform in the future. vanguard.com/performance 800-662-7447 When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations. Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares may be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder. 0 0 0 0 20 0 0 0 0.0016 0.0016 16 52 90 205 16 52 90 205 0.0749 -0.3462 0.2831 0.152 -0.0254 0.1558 0.2434 0.0718 -0.0158 0.0885 0.0885 0.1054 0.0527 0.0826 0.0997 0.0476 0.0537 0.0829 0.0411 0.1267 0.1471 0.0726 0.0265 0.0223 0.0434 0.0913 0.1083 0.0543 0.05 year-to-date return highest return 0.1723 2009-06-30 lowest return -0.1971 2008-12-31 <div style="display:none">~ http://www.vanguard.com/role/ScheduleAnnualFundOperatingExpenses000103 column period compact * ~</div> <div style="display:none">~ http://www.vanguard.com/role/ScheduleAnnualTotalReturnsBarChart000106 column period compact * ~</div> <div style="display:none">~ http://www.vanguard.com/role/ScheduleExpenseExampleTransposed000104 column period compact * ~</div> <div style="display:none">~ http://www.vanguard.com/role/ScheduleAverageAnnualTotalReturnsTransposed000107 column period compact * ~</div> <div style="display:none">~ http://www.vanguard.com/role/ScheduleShareholderFees000102 column period compact * ~</div> Vanguard Target Retirement 2055 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<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 (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&#8217;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 may pay transaction costs, such as purchase fees, when it buys and sells securities (or &#8220;turns over&#8221; 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&#8217;s performance. During the most recent fiscal period, the Fund&#8217;s portfolio turnover rate was 3% of the average value of its portfolio. 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 2055 (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&#8217;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 2055, the Fund&#8217;s asset allocation should become similar to that of the Target Retirement Income Fund. As of March 31, 2017, the Fund&#8217;s asset allocation among the underlying funds was as follows:<br/><br/><table border="0" cellspacing="0"> <tr> <td width="2%"></td> <td width="74%"></td> <td width="23%"></td></tr> <tr valign="bottom"> <td align="left"> &#8226;</td> <td align="left"> Vanguard Total Stock Market Index Fund</td> <td align="right"> 54.1%</td> </tr> <tr valign="bottom"> <td align="left" style="text-indent:0.000168pt"> &#8226;</td> <td align="left" style="text-indent:0.000183pt"> Vanguard Total International Stock Index Fund</td> <td align="right"> 35.8%</td> </tr> <tr valign="bottom"> <td align="left" style="text-indent:0.000168pt"> &#8226;</td> <td align="left" style="text-indent:0.000092pt"> Vanguard Total Bond Market II Index Fund</td> <td align="right"> 7.1%</td> </tr> <tr valign="bottom"> <td align="left" style="text-indent:0.000168pt"> &#8226;</td> <td align="left" style="text-indent:0.000092pt"> Vanguard Total International Bond Index Fund</td> <td align="right"> 3.0%</td> </tr> </table><br/>At any given time, the Fund&#8217;s asset allocation may be affected by a variety of factors, such as whether the underlying funds are accepting additional investments.<br/><br/>The Fund&#8217;s indirect stock holdings are a diversified mix of U.S. and foreign large-, mid-, and small-capitalization stocks.<br/><br/>The Fund&#8217;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&#8217;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.<br/><br/>&#8226; 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&#8212;such as political upheaval, financial troubles, or natural disasters&#8212;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.<br/><br/>&#8226; 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&#8217;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&#8217;s ability to make such payments will cause the price of that bond to decline, thus reducing the underlying fund&#8217;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&#8217;s call price and would be forced to reinvest the unanticipated proceeds at lower interest rates, resulting in a decline in the underlying fund&#8217;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&#8212;such as political upheaval, financial troubles, or natural disasters&#8212;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&#8217;s foreign currency exposure.<br/><br/>&#8226; 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.<br/><br/>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 following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund has varied from one calendar year to another over the periods shown. The table shows how the average annual total returns of the Fund compare with those of relevant market indexes and a composite stock/bond index, which have investment characteristics similar to those of the Fund. Keep in mind that the Fund&#8217;s past performance (before and after taxes) does not indicate how the Fund will perform in the future. Updated performance information is available on our website at vanguard.com/performance or by calling Vanguard toll-free at 800-662-7447. Annual Total Returns &#8212; Vanguard Target Retirement 2055 Fund Investor Shares During the periods shown in the bar chart, the highest return for a calendar quarter was 11.30% (quarter ended March 31, 2012), and the lowest return for a quarter was &#8211;14.79% (quarter ended September 30, 2011). Average Annual Total Returns for Periods Ended December 31, 2016 Actual after-tax returns depend on your tax situation and may differ from those shown in the preceding table. When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations. Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares may be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder. 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 a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund has varied from one calendar year to another over the periods shown. The table shows how the average annual total returns of the Fund compare with those of relevant market indexes and a composite stock/bond index, which have investment characteristics similar to those of the Fund. Keep in mind that the Fund&#8217;s past performance (before and after taxes) does not indicate how the Fund will perform in the future. vanguard.com/performance 800-662-7447 highest return 2012-03-31 lowest return 2011-09-30 When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations. Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares may be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder. 0 0 0 0 20 0 0 0 0.0016 0.0016 16 52 90 205 16 52 90 205 -0.0227 0.1558 0.2433 0.0719 -0.0172 0.0888 2010-08-18 2010-08-18 2010-08-18 2010-08-18 2010-08-18 2010-08-18 0.0888 0.1051 0.1016 0.083 0.1001 0.0968 0.0537 0.0829 0.081 0.1267 0.1471 0.1441 0.0265 0.0223 0.0286 0.0913 0.1083 0.1044 0.03 <div style="display:none">~ http://www.vanguard.com/role/ScheduleAnnualFundOperatingExpenses000113 column period compact * ~</div> <div style="display:none">~ http://www.vanguard.com/role/ScheduleAnnualTotalReturnsBarChart000116 column period compact * ~</div> <div style="display:none">~ http://www.vanguard.com/role/ScheduleExpenseExampleTransposed000114 column period compact * ~</div> <div style="display:none">~ http://www.vanguard.com/role/ScheduleAverageAnnualTotalReturnsTransposed000117 column period compact * ~</div> <div style="display:none">~ http://www.vanguard.com/role/ScheduleShareholderFees000112 column period compact * ~</div> Vanguard Target Retirement 2060 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<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 (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&#8217;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 may pay transaction costs, such as purchase fees, when it buys and sells securities (or &#8220;turns over&#8221; 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&#8217;s performance. During the most recent fiscal period, the Fund&#8217;s portfolio turnover rate was 3% of the average value of its portfolio. 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 2060 (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&#8217;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 2060, the Fund&#8217;s asset allocation should become similar to that of the Target Retirement Income Fund. As of March 31, 2017, the Fund&#8217;s asset allocation among the underlying funds was as follows:<br/><br/><table border="0" cellspacing="0"> <tr> <td width="2%"></td> <td width="74%"></td> <td width="23%"></td></tr> <tr valign="bottom"> <td align="left"> &#149;</td> <td align="left"> Vanguard&nbsp;Total&nbsp;Stock&nbsp;Market&nbsp;Index Fund</td> <td align="right"> 54.2%</td> </tr> <tr valign="bottom"> <td align="left" style="text-indent:0.000519pt"> &#149;</td> <td align="left" style="text-indent:0.000519pt"> Vanguard&nbsp;Total&nbsp;International&nbsp;Stock&nbsp;Index&nbsp;Fund&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td> <td align="right"> 35.8%</td> </tr> <tr valign="bottom"> <td align="left" style="text-indent:0.000168pt"> &#149;</td> <td align="left" style="text-indent:0.000092pt"> Vanguard&nbsp;Total&nbsp;Bond&nbsp;Market&nbsp;II&nbsp;Index&nbsp;Fund</td> <td align="right"> 7.0%</td> </tr> <tr valign="bottom"> <td align="left" style="text-indent:0.000168pt"> &#149;</td> <td align="left" style="text-indent:0.000092pt"> Vanguard&nbsp;Total&nbsp;International&nbsp;Bond&nbsp;Index&nbsp;Fund</td> <td align="right"> 3.0%</td> </tr> </table><br/>At any given time, the Fund&#8217;s asset allocation may be affected by a variety of factors, such as whether the underlying funds are accepting additional investments.<br/><br/>The Fund&#8217;s indirect stock holdings are a diversified mix of U.S. and foreign large-, mid-, and small-capitalization stocks.<br/><br/>The Fund&#8217;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&#8217;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.<br/><br/>&#149; 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&#8212;such as political upheaval, financial troubles, or natural disasters&#8212;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.<br/><br/>&#149; 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&#8217;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&#8217;s ability to make such payments will cause the price of that bond to decline, thus reducing the underlying fund&#8217;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&#8217;s call price and would be forced to reinvest the unanticipated proceeds at lower interest rates, resulting in a decline in the underlying fund&#8217;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&#8212;such as political upheaval, financial troubles, or natural disasters&#8212;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&#8217;s foreign currency exposure.<br/><br/>&#149; 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.<br/><br/>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 following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund has varied from one calendar year to another over the periods shown. The table shows how the average annual total returns of the Fund compare with those of relevant market indexes and a composite stock/bond index, which have investment characteristics similar to those of the Fund. Keep in mind that the Fund&#8217;s past performance (before and after taxes) does not indicate how the Fund will perform in the future. Updated performance information is available on our website at vanguard.com/performance or by calling Vanguard toll-free at 800-662-7447. The following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund has varied from one calendar year to another over the periods shown. The table shows how the average annual total returns of the Fund compare with those of relevant market indexes and a composite stock/bond index, which have investment characteristics similar to those of the Fund. Annual Total Returns &#8212; Vanguard Target Retirement 2060 Fund Investor Shares During the periods shown in the bar chart, the highest return for a calendar quarter was 7.61% (quarter ended March 31, 2013), and the lowest return for a quarter was &#8211;8.00% (quarter ended September 30, 2015). Average Annual Total Returns for Periods Ended December 31, 2016 Actual after-tax returns depend on your tax situation and may differ from those shown in the preceding table. When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations. Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares may be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder. 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 a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Keep in mind that the Fund&#8217;s past performance (before and after taxes) does not indicate how the Fund will perform in the future. 800-662-7447 When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations. Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares may be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder. 0 0 0 0 20 0 0 0 0.0016 0.0016 16 52 90 205 0.2435 0.0716 -0.0168 0.0884 2012-01-19 2012-01-19 2012-01-19 2012-01-19 2012-01-19 2012-01-19 0.0884 0.0966 0.0827 0.092 0.0535 0.0759 0.1267 0.1376 0.0265 0.0224 0.0913 0.0998 0.03 year-to-date return 2017-03-31 0.0616 0.0761 2013-03-31 lowest return -0.08 2015-09-30 highest return <div style="display:none">~ http://www.vanguard.com/role/ScheduleAnnualFundOperatingExpenses000123 column period compact * ~</div> <div style="display:none">~ http://www.vanguard.com/role/ScheduleExpenseExampleTransposed000124 column period compact * ~</div> <div style="display:none">~ http://www.vanguard.com/role/ScheduleAverageAnnualTotalReturnsTransposed000127 column period compact * ~</div> <div style="display:none">~ http://www.vanguard.com/role/ScheduleShareholderFees000122 column period compact * ~</div> 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<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 (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&#8217;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 may pay transaction costs, such as purchase fees, when it buys and sells securities (or &#8220;turns over&#8221; 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&#8217;s performance. 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&#8217;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&#8217;s asset allocation should become similar to that of the Target Retirement Income Fund. The Fund&#8217;s asset allocation among the underlying funds is as follows:<br/><br/><table border="0" cellspacing="0"> <tr> <td width="2%"></td> <td width="74%"></td> <td width="23%"></td></tr> <tr valign="bottom"> <td align="right"> &#149;</td> <td align="left"> Vanguard&nbsp;Total&nbsp;Stock&nbsp;Market&nbsp;Index&nbsp;Fund</td> <td align="right"> 54.0%</td> </tr> <tr valign="bottom"> <td align="right"> &#149;</td> <td align="left" style="text-indent:0.000336pt"> Vanguard&nbsp;Total&nbsp;International&nbsp;Stock&nbsp;Index&nbsp;Fund&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td> <td align="right"> 36.0%</td> </tr> <tr valign="bottom"> <td align="right"> &#149;</td> <td align="left" style="text-indent:0.000244pt"> Vanguard&nbsp;Total&nbsp;Bond&nbsp;Market&nbsp;II&nbsp;Index&nbsp;Fund</td> <td align="right"> 7.0%</td> </tr> <tr valign="bottom"> <td align="right"> &#149;</td> <td align="left" style="text-indent:0.000031pt"> Vanguard&nbsp;Total&nbsp;International&nbsp;Bond&nbsp;Index&nbsp;Fund</td> <td align="right"> 3.0%</td> </tr> </table><br/>At any given time, the Fund&#8217;s asset allocation may be affected by a variety of factors, such as whether the underlying funds are accepting additional investments.<br/><br/>The Fund&#8217;s indirect stock holdings are a diversified mix of U.S. and foreign large-, mid-, and small-capitalization stocks.<br/><br/>The Fund&#8217;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&#8217;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.<br/><br/>&#149; 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&#8212;such as political upheaval, financial troubles, or natural disasters&#8212;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.<br/><br/>&#149; 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&#8217;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&#8217;s ability to make such payments will cause the price of that bond to decline, thus reducing the underlying fund&#8217;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&#8217;s call price and would be forced to reinvest the unanticipated proceeds at lower interest rates, resulting in a decline in the underlying fund&#8217;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&#8212;such as political upheaval, financial troubles, or natural disasters&#8212;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&#8217;s foreign currency exposure.<br/><br/>&#149; 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.<br/><br/>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 July 12, 2017, so performance information is not yet available. 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 a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The Fund began operations on July 12, 2017, so performance information is not yet available. 0 0 0 0 20 0 0 0 0.0016 0.0016 16 52 90 205 <div style="display:none">~ http://www.vanguard.com/role/ScheduleAnnualFundOperatingExpenses000133 column period compact * ~</div> <div style="display:none">~ http://www.vanguard.com/role/ScheduleExpenseExampleTransposed000134 column period compact * ~</div> <div style="display:none">~ http://www.vanguard.com/role/ScheduleShareholderFees000132 column period compact * ~</div> Vanguard Institutional Target Retirement Income Fund Investment Objective The Fund seeks to provide current income and some capital appreciation. 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 (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&#8217;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 may pay transaction costs, such as purchase fees, when it buys and sells securities (or &#8220;turns over&#8221; 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&#8217;s performance. During the most recent fiscal period, the Fund&#8217;s portfolio turnover rate was 11% of the average value of its portfolio. Principal Investment Strategies The Fund invests in other Vanguard mutual funds according to an asset allocation strategy designed for investors currently in retirement. As of March 31, 2017, the Fund&#8217;s asset allocation among the underlying funds was as follows: <br/><br/><table border="0" cellspacing="0"><tr valign="bottom"><td align="left" style="text-indent: 0pt;">&#149;</td><td align="left" style="text-indent: 0pt;">Vanguard Total Bond Market II Index Fund</td><td align="center">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37.3%</td></tr><tr valign="bottom"><td align="left" style="text-indent: 0pt;">&#149;</td><td align="left" style="text-indent: 0pt;">Vanguard Total Stock Market Index Fund</td><td align="center">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18.0%</td></tr><tr valign="bottom"><td align="left" style="text-indent: 0pt;">&#149;</td><td align="left" style="text-indent: 0pt;">Vanguard Short-Term Inflation-Protected Securities Index Fund</td><td align="center">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16.8%</td></tr><tr valign="bottom"><td align="left">&#149;</td><td align="left">Vanguard Total International Bond Index Fund</td><td align="center">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15.9%</td></tr><tr valign="bottom"><td align="left">&#149;</td><td align="left">Vanguard Total International Stock Index Fund</td><td align="center">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.0%</td></tr></table><br/>At any given time, the Fund&#8217;s asset allocation may be affected by a variety of factors, such as whether the underlying funds are accepting additional investments.<br/><br/> The Fund&#8217;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; inflation-protected public obligations issued by the U.S. Treasury; 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). <br/><br/>The Fund&#8217;s indirect stock holdings are a diversified mix of U.S. and foreign large-, mid-, and small-capitalization stocks. 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. There is no guarantee that the Fund will provide adequate income through retirement. Because bonds and short-term investments usually are less volatile than stocks and because the Fund invests most of its assets in bonds and short-term investments, the Fund&#8217;s overall level of risk should be low to moderate.<br/><br/>&#149; With approximately 70% 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&#8217;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&#8217;s ability to make such payments will cause the price of that bond to decline, thus reducing the underlying fund&#8217;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&#8217;s call price and would be forced to reinvest the unanticipated proceeds at lower interest rates, resulting in a decline in the underlying fund&#8217;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&#8212;such as political upheaval, financial troubles, or natural disasters&#8212;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&#8217;s foreign currency exposure.<br/><br/>&#149; With approximately 30% 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&#8212;such as political upheaval, financial troubles, or natural disasters&#8212;will adversely affect the value of companies in any one 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.<br/><br/>&#149; 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.<br/><br/>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 Annual Total Returns &#151; Vanguard Institutional Target Retirement Income Fund Institutional Shares The following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows the performance of the Fund in its first full calendar year. The table shows how the average annual total returns of the Fund compare with those of relevant market indexes and a composite bond/stock index, which have investment characteristics similar to those of the Fund. Keep in mind that the Fund&#8217;s past performance (before and after taxes) does not indicate how the Fund will perform in the future. Updated performance information is available on our website at vanguard.com/performance or by calling Vanguard toll-free at 800-662-7447. Average Annual Total Returns for Periods Ended December 31, 2016 During the periods shown in the bar chart, the highest return for a calendar quarter was 2.28% (quarter ended March 31, 2016), and the lowest return for a quarter was &#8211;1.00% (quarter ended December 31, 2016). Actual after-tax returns depend on your tax situation and may differ from those shown in the preceding table. When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations. Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares may be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder. 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 a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows the performance of the Fund in its first full calendar year. The table shows how the average annual total returns of the Fund compare with those of relevant market indexes and a composite bond/stock index, which have investment characteristics similar to those of the Fund. Keep in mind that the Fund&#8217;s past performance (before and after taxes) does not indicate how the Fund will perform in the future. vanguard.com/performance 800-662-7447 When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations. Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares may be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder. 0 0 0 0 0 0 0 0.0009 0.0009 9 29 51 115 9 29 51 115 0.0529 0.0529 0.0261 0.0452 0.0193 0.0312 0.0175 0.0265 0.026 0.1267 0.0589 0.0535 0.0278 0.11 year-to-date return 2017-03-31 0.0247 0.0228 2016-03-31 lowest return -0.01 2016-12-31 highest return <div style="display:none">~ http://www.vanguard.com/role/ScheduleAnnualFundOperatingExpenses000143 column period compact * ~</div> <div style="display:none">~ http://www.vanguard.com/role/ScheduleAnnualTotalReturnsBarChart000146 column period compact * ~</div> <div style="display:none">~ http://www.vanguard.com/role/ScheduleExpenseExampleTransposed000144 column period compact * ~</div> <div style="display:none">~ http://www.vanguard.com/role/ScheduleAverageAnnualTotalReturnsTransposed000147 column period compact * ~</div> <div style="display:none">~ http://www.vanguard.com/role/ScheduleShareholderFees000142 column period compact * ~</div> Vanguard Institutional Target Retirement 2010 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<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 (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&#8217;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 may pay transaction costs, such as purchase fees, when it buys and sells securities (or &#8220;turns over&#8221; 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&#8217;s performance. During the most recent fiscal period, the Fund&#8217;s portfolio turnover rate was 13% of the average value of its portfolio. 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 2010 (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&#8217;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 2010, the Fund&#8217;s asset allocation should become similar to that of the Institutional Target Retirement Income Fund. As of March 31, 2017, the Fund&#8217;s asset allocation among the underlying funds was as follows: <br/><br/><table border="0" cellspacing="0"><tr valign="bottom"><td align="left" style="text-indent: 0pt;">&#149;</td><td align="left" style="text-indent: 0pt;">Vanguard Total Bond Market II Index Fund</td><td align="center">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37.1%</td></tr><tr valign="bottom"><td align="left" style="text-indent: 0pt;">&#149;</td><td align="left" style="text-indent: 0pt;">Vanguard Total Stock Market Index Fund</td><td align="center">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18.3%</td></tr><tr valign="bottom"><td align="left">&#149;</td><td align="left">Vanguard Short-Term Inflation-Protected Securities Index Fund</td><td align="center">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16.6%</td></tr><tr valign="bottom"><td align="left" style="text-indent: 0pt;">&#149;</td><td align="left" style="text-indent: 0pt;">Vanguard Total International Bond Index Fund</td><td align="center">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15.9%</td></tr><tr valign="bottom"><td align="left" style="text-indent: 0pt;">&#149;</td><td align="left" style="text-indent: 0pt;">Vanguard Total International Stock Index Fund</td><td align="center">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.1%</td></tr></table><br/>At any given time, the Fund&#8217;s asset allocation may be affected by a variety of factors, such as whether the underlying funds are accepting additional investments. <br/><br/>The Fund&#8217;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; inflation-protected public obligations issued by the U.S. Treasury; 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). <br/><br/>The Fund&#8217;s indirect stock holdings are a diversified mix of U.S. and foreign large-, mid-, and small-capitalization stocks. 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 fixed income securities such as bonds usually are less volatile than stocks and because the Fund currently invests a significant portion of its assets in fixed income securities, the Fund&#8217;s overall level of risk should be lower than that of funds investing entirely in stocks.<br/><br/>&#149; With approximately 70% 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&#8217;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&#8217;s ability to make such payments will cause the price of that bond to decline, thus reducing the underlying fund&#8217;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&#8217;s call price and would be forced to reinvest the unanticipated proceeds at lower interest rates, resulting in a decline in the underlying fund&#8217;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&#8212;such as political upheaval, financial troubles, or natural disasters&#8212;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&#8217;s foreign currency exposure.<br/><br/>&#149; With approximately 30% 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&#8212;such as political upheaval, financial troubles, or natural disasters&#8212;will adversely affect the value of companies in any one 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.<br/><br/>&#149; 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.<br/><br/>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 Annual Total Returns &#151; Vanguard Institutional Target Retirement 2010 Fund Institutional Shares The following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows the performance of the Fund in its first full calendar year. The table shows how the average annual total returns of the Fund compare with those of relevant market indexes and a composite bond/stock index, which have investment characteristics similar to those of the Fund. Keep in mind that the Fund&#8217;s past performance (before and after taxes) does not indicate how the Fund will perform in the future. Updated performance information is available on our website at vanguard.com/performance or by calling Vanguard toll-free at 800-662-7447. Average Annual Total Returns for Periods Ended December 31, 2016 During the periods shown in the bar chart, the highest return for a calendar quarter was 2.20% (quarter ended March 31, 2016), and the lowest return for a quarter was &#8211;0.98% (quarter ended December 31, 2016). Actual after-tax returns depend on your tax situation and may differ from those shown in the preceding table. When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations. Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares may be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder. 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 a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows the performance of the Fund in its first full calendar year. The table shows how the average annual total returns of the Fund compare with those of relevant market indexes and a composite bond/stock index, which have investment characteristics similar to those of the Fund. Keep in mind that the Fund&#8217;s past performance (before and after taxes) does not indicate how the Fund will perform in the future. vanguard.com/performance 800-662-7447 When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations. Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares may be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder. 0 0 0 0 0 0 0 0.0009 0.0009 9 29 51 115 9 29 51 115 0.0531 0.0531 0.0237 0.0463 0.0177 0.0314 0.016 0.0265 0.026 0.1267 0.0589 0.0544 0.0257 0.13 year-to-date return 2017-03-31 0.0252 0.022 2016-03-31 lowest return -0.0098 2016-12-31 highest return <div style="display:none">~ http://www.vanguard.com/role/ScheduleAnnualFundOperatingExpenses000153 column period compact * ~</div> <div style="display:none">~ http://www.vanguard.com/role/ScheduleAnnualTotalReturnsBarChart000156 column period compact * ~</div> <div style="display:none">~ http://www.vanguard.com/role/ScheduleAverageAnnualTotalReturnsTransposed000157 column period compact * ~</div> <div style="display:none">~ http://www.vanguard.com/role/ScheduleShareholderFees000152 column period compact * ~</div> Vanguard Institutional Target Retirement 2015 Fund Investment Objective The Fund seeks to provide capital appreciation and current income consistent with its current asset allocation. Fees and Expenses 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 (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&#8217;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 may pay transaction costs, such as purchase fees, when it buys and sells securities (or &#8220;turns over&#8221; 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&#8217;s performance. During the most recent fiscal period, the Fund&#8217;s portfolio turnover rate was 9% of the average value of its portfolio. 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 2015 (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&#8217;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 2015, the Fund&#8217;s asset allocation should become similar to that of the Institutional Target Retirement Income Fund. As of March 31, 2017, the Fund&#8217;s asset allocation among the underlying funds was as follows:<br/><br/><table border="0" cellspacing="0"> <tr> <td width="2%"></td> <td width="84%"></td> <td width="13%"></td></tr> <tr valign="bottom"> <td align="left" style="text-indent:0.000092pt"> &#149;</td> <td align="left" style="text-indent:0.000092pt"> Vanguard Total Bond Market II Index Fund</td> <td align="right"> 31.6%</td> </tr> <tr valign="bottom"> <td align="left" style="text-indent:0.000427pt">&#149;</td> <td align="left" style="text-indent:0.000519pt"> Vanguard Total Stock Market Index Fund</td> <td align="left" style="text-indent:0.573914pt"> 26.7%</td> </tr> <tr valign="bottom"> <td align="left" style="text-indent:0.000351pt">&#149;</td> <td align="left" style="text-indent:0.000458pt"> Vanguard Total International Stock Index Fund</td> <td align="right"> 18.0%</td> </tr> <tr valign="bottom"> <td align="left">&#149;</td> <td align="left"> Vanguard Total International Bond Index Fund</td> <td align="right"> 13.4%</td> </tr> <tr valign="bottom"> <td align="left" style="text-indent:0.000351pt">&#149;</td> <td align="left" style="text-indent:0.000366pt"> Vanguard Short-Term Inflation-Protected Securities Index Fund</td> <td align="right"> 10.3%</td> </tr> </table><br/>At any given time, the Fund&#8217;s asset allocation may be affected by a variety of factors, such as whether the underlying funds are accepting additional investments.<br/><br/>The Fund&#8217;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; inflation-protected public obligations issued by the U.S. Treasury; 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).<br/><br/>The Fund&#8217;s indirect stock holdings are a diversified mix of U.S. and foreign large-, mid-, and small-capitalization stocks. 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 fixed income securities such as bonds usually are less volatile than stocks and because the Fund currently invests a significant portion of its assets in fixed income securities, the Fund&#8217;s overall level of risk should be lower than that of funds investing entirely in stocks.<br/><br/>&#149; With approximately 55% 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&#8217;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&#8217;s ability to make such payments will cause the price of that bond to decline, thus reducing the underlying fund&#8217;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&#8217;s call price and would be forced to reinvest the unanticipated proceeds at lower interest rates, resulting in a decline in the underlying fund&#8217;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&#8212;such as political upheaval, financial troubles, or natural disasters&#8212;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&#8217;s foreign currency exposure.<br/><br/>&#149; With approximately 45% 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&#8212;such as political upheaval, financial troubles, or natural disasters&#8212;will adversely affect the value of companies in any one 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.<br/><br/>&#149; 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.<br/><br/>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 Annual Total Returns &#8212; Vanguard Institutional Target Retirement 2015 Fund Institutional Shares The following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows the performance of the Fund in its first full calendar year. The table shows how the average annual total returns of the Fund compare with those of relevant market indexes and a composite bond/stock index, which have investment characteristics similar to those of the Fund. Keep in mind that the Fund&#8217;s past performance (before and after taxes) does not indicate how the Fund will perform in the future. Updated performance information is available on our website at vanguard.com/performance or by calling Vanguard toll-free at 800-662-7447. During the periods shown in the bar chart, the highest return for a calendar quarter was 2.74% (quarter ended September 30, 2016), and the lowest return for a quarter was &#8211;0.47% (quarter ended December 31, 2016). Average Annual Total Returns for Periods Ended December 31, 2016 Actual after-tax returns depend on your tax situation and may differ from those shown in the preceding table. When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations. Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares may be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder. 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 a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows the performance of the Fund in its first full calendar year. The table shows how the average annual total returns of the Fund compare with those of relevant market indexes and a composite bond/stock index, which have investment characteristics similar to those of the Fund. Keep in mind that the Fund&#8217;s past performance (before and after taxes) does not indicate how the Fund will perform in the future. vanguard.com/performance 800-662-7447 When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations. Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares may be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder. 0 0 0 0 0 0 0 0.0009 0.0009 9 29 51 115 9 29 51 115 0.0627 2015-06-26 2015-06-26 2015-06-26 2015-06-26 2015-06-26 2015-06-26 0.0627 0.0231 0.0558 0.017 0.0374 0.0158 0.0265 0.026 0.1267 0.0589 0.064 0.0254 0.09 year-to-date return 2017-03-31 0.0337 highest return 0.0274 2016-09-30 lowest return -0.0047 2016-12-31 <div style="display:none">~ http://www.vanguard.com/role/ScheduleAnnualFundOperatingExpenses000163 column period compact * ~</div> <div style="display:none">~ http://www.vanguard.com/role/ScheduleAnnualTotalReturnsBarChart000166 column period compact * ~</div> <div style="display:none">~ http://www.vanguard.com/role/ScheduleExpenseExampleTransposed000164 column period compact * ~</div> <div style="display:none">~ http://www.vanguard.com/role/ScheduleShareholderFees000162 column period compact * ~</div> Vanguard Institutional Target Retirement 2020 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<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 (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&#8217;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 may pay transaction costs, such as purchase fees, when it buys and sells securities (or &#8220;turns over&#8221; 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&#8217;s performance. During the most recent fiscal period, the Fund&#8217;s portfolio turnover rate was 6% of the average value of its portfolio. 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 2020 (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&#8217;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 2020, the Fund&#8217;s asset allocation should become similar to that of the Institutional Target Retirement Income Fund. As of March 31, 2017, the Fund&#8217;s asset allocation among the underlying funds was as follows:<br/><br/><table border="0" cellspacing="0"> <tr> <td width="2%"></td> <td width="84%"></td> <td width="12%"></td></tr> <tr valign="bottom"> <td align="right"> &#149;</td> <td align="left"> Vanguard Total Stock Market Index Fund</td> <td align="right"> 33.2%</td> </tr> <tr valign="bottom"> <td align="right"> &#149;</td> <td align="left" style="text-indent:0.000183pt"> Vanguard Total Bond Market II Index Fund</td> <td align="right"> 28.7%</td> </tr> <tr valign="bottom"> <td align="right">&#149;</td> <td align="left" style="text-indent:0.000610pt"> Vanguard Total International Stock Index Fund</td> <td align="right"> 22.7%</td> </tr> <tr valign="bottom"> <td align="right">&#149;</td> <td align="left" style="text-indent:0.000519pt"> Vanguard Total International Bond Index Fund</td> <td align="right"> 12.2%</td> </tr> <tr valign="bottom"> <td align="right">&#149;</td> <td align="left" style="text-indent:0.000183pt"> Vanguard Short-Term Inflation-Protected Securities Index Fund</td> <td align="right"> 3.2%</td> </tr> </table><br/>At any given time, the Fund&#8217;s asset allocation may be affected by a variety of factors, such as whether the underlying funds are accepting additional investments.<br/><br/>The Fund&#8217;s indirect stock holdings are a diversified mix of U.S. and foreign large-, mid-, and small-capitalization stocks.<br/><br/>The Fund&#8217;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; inflation-protected public obligations issued by the U.S. Treasury; 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&#8217;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.<br/><br/>&#149; With approximately 56% 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&#8212;such as political upheaval, financial troubles, or natural disasters&#8212;will adversely affect the value of companies in any one 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.<br/><br/>&#149; With approximately 44% 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&#8217;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&#8217;s ability to make such payments will cause the price of that bond to decline, thus reducing the underlying fund&#8217;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&#8217;s call price and would be forced to reinvest the unanticipated proceeds at lower interest rates, resulting in a decline in the underlying fund&#8217;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&#8212;such as political upheaval, financial troubles, or natural disasters&#8212;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&#8217;s foreign currency exposure.<br/><br/>&#149; 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.<br/><br/>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 Annual Total Returns &#8212; Vanguard Institutional Target Retirement 2020 Fund Institutional Shares The following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows the performance of the Fund in its first full calendar year. The table shows how the average annual total returns of the Fund compare with those of relevant market indexes and a composite stock/bond index, which have investment characteristics similar to those of the Fund. Keep in mind that the Fund&#8217;s past performance (before and after taxes) does not indicate how the Fund will perform in the future. Updated performance information is available on our website at vanguard.com/performance or by calling Vanguard toll-free at 800-662-7447. During the periods shown in the bar chart, the highest return for a calendar quarter was 3.31% (quarter ended September 30, 2016), and the lowest return for a quarter was &#8211;0.19% (quarter ended December 31, 2016). Average Annual Total Returns for Periods Ended December 31, 2016 Actual after-tax returns depend on your tax situation and may differ from those shown in the preceding table. When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations. Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares may be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder. 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 a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows the performance of the Fund in its first full calendar year. The table shows how the average annual total returns of the Fund compare with those of relevant market indexes and a composite stock/bond index, which have investment characteristics similar to those of the Fund. Keep in mind that the Fund&#8217;s past performance (before and after taxes) does not indicate how the Fund will perform in the future. vanguard.com/performance 800-662-7447 When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations. Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares may be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder. 0 0 0 0 0 0 0 0.0009 0.0009 9 29 51 115 9 29 51 115 0.0704 0.0704 0.0235 0.0637 0.0174 0.0422 0.0163 0.1267 0.0589 0.0265 0.026 0.0717 0.0262 0.06 year-to-date return 2017-03-31 0.0412 0.0331 2016-09-30 lowest return -0.0019 2016-12-31 highest return <div style="display:none">~ http://www.vanguard.com/role/ScheduleAnnualFundOperatingExpenses000173 column period compact * ~</div> <div style="display:none">~ http://www.vanguard.com/role/ScheduleAnnualTotalReturnsBarChart000176 column period compact * ~</div> <div style="display:none">~ http://www.vanguard.com/role/ScheduleExpenseExampleTransposed000174 column period compact * ~</div> <div style="display:none">~ http://www.vanguard.com/role/ScheduleAverageAnnualTotalReturnsTransposed000177 column period compact * ~</div> <div style="display:none">~ http://www.vanguard.com/role/ScheduleShareholderFees000172 column period compact * ~</div> Vanguard Institutional Target Retirement 2025 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<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 (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&#8217;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 may pay transaction costs, such as purchase fees, when it buys and sells securities (or &#8220;turns over&#8221; 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&#8217;s performance. During the most recent fiscal period, the Fund&#8217;s portfolio turnover rate was 5% of the average value of its portfolio. 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 2025 (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&#8217;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 2025, the Fund&#8217;s asset allocation should become similar to that of the Institutional Target Retirement Income Fund. As of March 31, 2017, the Fund&#8217;s asset allocation among the underlying funds was as follows:<br/><br/><table border="0" cellspacing="0"> <tr> <td width="2%"></td> <td width="74%"></td> <td width="23%"></td></tr> <tr valign="bottom"> <td align="right"> &#149;</td> <td align="left"> Vanguard Total Stock Market Index Fund</td> <td align="left"> 38.5%</td> </tr> <tr valign="bottom"> <td align="right"> &#149;</td> <td align="left" style="text-indent:0.000275pt"> Vanguard Total International Stock Index Fund</td> <td align="left" style="text-indent:0.032715pt"> 25.9%</td> </tr> <tr valign="bottom"> <td align="right"> &#149;</td> <td align="left" style="text-indent:0.000519pt"> Vanguard Total Bond Market II Index Fund</td> <td align="left" style="text-indent:0.035339pt"> 25.0%</td> </tr> <tr valign="bottom"> <td align="right"> &#149;</td> <td align="left" style="text-indent:0.000519pt"> Vanguard Total International Bond Index Fund</td> <td align="left" style="text-indent:0.026245pt"> 10.6%</td> </tr> </table><br/>At any given time, the Fund&#8217;s asset allocation may be affected by a variety of factors, such as whether the underlying funds are accepting additional investments.<br/><br/>The Fund&#8217;s indirect stock holdings are a diversified mix of U.S. and foreign large-, mid-, and small-capitalization stocks.<br/><br/>The Fund&#8217;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&#8217;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.<br/><br/>&#149; With approximately 64% 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&#8212;such as political upheaval, financial troubles, or natural disasters&#8212;will adversely affect the value of companies in any one 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.<br/><br/>&#149; With approximately 36% 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&#8217;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&#8217;s ability to make such payments will cause the price of that bond to decline, thus reducing the underlying fund&#8217;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&#8217;s call price and would be forced to reinvest the unanticipated proceeds at lower interest rates, resulting in a decline in the underlying fund&#8217;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&#8212;such as political upheaval, financial troubles, or natural disasters&#8212;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&#8217;s foreign currency exposure.<br/><br/>&#149; 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.<br/><br/>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 Annual Total Returns &#8212; Vanguard Institutional Target Retirement 2025 Fund Institutional Shares The following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows the performance of the Fund in its first full calendar year. The table shows how the average annual total returns of the Fund compare with those of relevant market indexes and a composite stock/bond index, which have investment characteristics similar to those of the Fund. Keep in mind that the Fund&#8217;s past performance (before and after taxes) does not indicate how the Fund will perform in the future. Updated performance information is available on our website at vanguard.com/performance or by calling Vanguard toll-free at 800-662-7447. During the periods shown in the bar chart, the highest return for a calendar quarter was 3.70% (quarter ended September 30, 2016), and the lowest return for a quarter was 0.15% (quarter ended December 31, 2016). Average Annual Total Returns for Periods Ended December 31, 2016 Actual after-tax returns depend on your tax situation and may differ from those shown in the preceding table. When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations. Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares may be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder. 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 a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows the performance of the Fund in its first full calendar year. The table shows how the average annual total returns of the Fund compare with those of relevant market indexes and a composite stock/bond index, which have investment characteristics similar to those of the Fund. Keep in mind that the Fund&#8217;s past performance (before and after taxes) does not indicate how the Fund will perform in the future. vanguard.com/performance 800-662-7447 When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations. Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares may be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder. 0 0 0 0 0 0 0 0.0009 0.0009 9 29 51 115 0.0756 2015-06-26 2015-06-26 2015-06-26 2015-06-26 2015-06-26 2015-06-26 0.0756 0.0226 0.069 0.0167 0.0454 0.0158 0.1267 0.0589 0.0265 0.026 0.0767 0.0253 0.05 year-to-date return 2017-03-31 0.0462 0.037 2016-09-30 lowest return 0.0015 2016-12-31 highest return <div style="display:none">~ http://www.vanguard.com/role/ScheduleAnnualFundOperatingExpenses000183 column period compact * ~</div> <div style="display:none">~ http://www.vanguard.com/role/ScheduleAnnualTotalReturnsBarChart000186 column period compact * ~</div> <div style="display:none">~ http://www.vanguard.com/role/ScheduleExpenseExampleTransposed000184 column period compact * ~</div> <div style="display:none">~ http://www.vanguard.com/role/ScheduleAverageAnnualTotalReturnsTransposed000187 column period compact * ~</div> <div style="display:none">~ http://www.vanguard.com/role/ScheduleShareholderFees000182 column period compact * ~</div> Vanguard Institutional Target Retirement 2030 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<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 (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&#8217;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 may pay transaction costs, such as purchase fees, when it buys and sells securities (or &#8220;turns over&#8221; 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&#8217;s performance. During the most recent fiscal period, the Fund&#8217;s portfolio turnover rate was 5% of the average value of its portfolio. 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 2030 (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&#8217;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 2030, the Fund&#8217;s asset allocation should become similar to that of the Institutional Target Retirement Income Fund. As of March 31, 2017, the Fund&#8217;s asset allocation among the underlying funds was as follows:<br/><br/><table border="0" cellspacing="0"> <tr> <td width="2%"></td> <td width="74%"></td> <td width="23%"></td></tr> <tr valign="bottom"> <td align="left"> &#149;</td> <td align="left"> Vanguard Total Stock Market Index Fund</td> <td align="left"> 43.0%</td> </tr> <tr valign="bottom"> <td align="left" style="text-indent:0.000259pt"> &#149;</td> <td align="left" style="text-indent:0.000275pt"> Vanguard Total International Stock Index Fund</td> <td align="left" style="text-indent:0.032715pt"> 28.9%</td> </tr> <tr valign="bottom"> <td align="left" style="text-indent:0.000259pt"> &#149;</td> <td align="left" style="text-indent:0.000183pt"> Vanguard Total Bond Market II Index Fund</td> <td align="left" style="text-indent:0.034973pt"> 19.7%</td> </tr> <tr valign="bottom"> <td align="left" style="text-indent:0.000259pt"> &#149;</td> <td align="left" style="text-indent:0.000183pt"> Vanguard Total International Bond Index Fund</td> <td align="center"> 8.4%</td> </tr> </table> <br/>At any given time, the Fund&#8217;s asset allocation may be affected by a variety of factors, such as whether the underlying funds are accepting additional investments.<br/><br/>The Fund&#8217;s indirect stock holdings are a diversified mix of U.S. and foreign large-, mid-, and small-capitalization stocks.<br/><br/>The Fund&#8217;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&#8217;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.<br/><br/>&#149; With approximately 72% 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&#8212;such as political upheaval, financial troubles, or natural disasters&#8212;will adversely affect the value of companies in any one 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.<br/><br/>&#149; With approximately 28% 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&#8217;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&#8217;s ability to make such payments will cause the price of that bond to decline, thus reducing the underlying fund&#8217;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&#8217;s call price and would be forced to reinvest the unanticipated proceeds at lower interest rates, resulting in a decline in the underlying fund&#8217;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&#8212;such as political upheaval, financial troubles, or natural disasters&#8212;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&#8217;s foreign currency exposure.<br/><br/>&#149; 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.<br/><br/>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 Annual Total Returns &#8212; Vanguard Institutional Target Retirement 2030 Fund Institutional Shares The following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows the performance of the Fund in its first full calendar year. The table shows how the average annual total returns of the Fund compare with those of relevant market indexes and a composite stock/bond index, which have investment characteristics similar to those of the Fund. Keep in mind that the Fund&#8217;s past performance (before and after taxes) does not indicate how the Fund will perform in the future. Updated performance information is available on our website at vanguard.com/performance or by calling Vanguard toll-free at 800-662-7447. During the periods shown in the bar chart, the highest return for a calendar quarter was 4.09% (quarter ended September 30, 2016), and the lowest return for a quarter was 0.44% (quarter ended December 31, 2016). Average Annual Total Returns for Periods Ended December 31, 2016 Actual after-tax returns depend on your tax situation and may differ from those shown in the preceding table. When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations. Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares may be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder. 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 a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows the performance of the Fund in its first full calendar year. The table shows how the average annual total returns of the Fund compare with those of relevant market indexes and a composite stock/bond index, which have investment characteristics similar to those of the Fund. Keep in mind that the Fund&#8217;s past performance (before and after taxes) does not indicate how the Fund will perform in the future. vanguard.com/performance 800-662-7447 When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations. Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares may be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder. 0 0 0 0 0 0 0 0.0009 0.0009 9 29 51 115 0.0797 2015-06-26 2015-06-26 2015-06-26 2015-06-26 2015-06-26 2015-06-26 0.0797 0.0205 0.0734 0.0149 0.048 0.0145 0.1267 0.0589 0.0265 0.026 0.0811 0.0239 0.05 year-to-date return 2017-03-31 0.0509 0.0409 2016-09-30 lowest return 0.0044 2016-12-31 highest return <div style="display:none">~ http://www.vanguard.com/role/ScheduleAnnualFundOperatingExpenses000193 column period compact * ~</div> <div style="display:none">~ http://www.vanguard.com/role/ScheduleAnnualTotalReturnsBarChart000196 column period compact * ~</div> <div style="display:none">~ http://www.vanguard.com/role/ScheduleExpenseExampleTransposed000194 column period compact * ~</div> <div style="display:none">~ http://www.vanguard.com/role/ScheduleAverageAnnualTotalReturnsTransposed000197 column period compact * ~</div> <div style="display:none">~ http://www.vanguard.com/role/ScheduleShareholderFees000192 column period compact * ~</div> Vanguard Institutional Target Retirement 2035 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<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 (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&#8217;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 may pay transaction costs, such as purchase fees, when it buys and sells securities (or &#8220;turns over&#8221; 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&#8217;s performance. During the most recent fiscal period, the Fund&#8217;s portfolio turnover rate was 5% of the average value of its portfolio. 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 2035 (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&#8217;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 2035, the Fund&#8217;s asset allocation should become similar to that of the Institutional Target Retirement Income Fund. As of March 31, 2017, the Fund&#8217;s asset allocation among the underlying funds was as follows:<br/><br/><table border="0" cellspacing="0"> <tr> <td width="2%"></td> <td width="74%"></td> <td width="23%"></td></tr> <tr valign="bottom"> <td align="left"> &#149;</td> <td align="left"> Vanguard Total Stock Market Index Fund</td> <td align="right"> 47.5%</td> </tr> <tr valign="bottom"> <td align="left" style="text-indent:0.000259pt"> &#149;</td> <td align="left" style="text-indent:0.000275pt"> Vanguard Total International Stock Index Fund</td> <td align="right"> 31.9%</td> </tr> <tr valign="bottom"> <td align="left" style="text-indent:0.000259pt"> &#149;</td> <td align="left" style="text-indent:0.000244pt"> Vanguard Total Bond Market II Index Fund</td> <td align="right"> 14.5%</td> </tr> <tr valign="bottom"> <td align="left" style="text-indent:0.000259pt"> &#149;</td> <td align="left" style="text-indent:0.000183pt"> Vanguard Total International Bond Index Fund</td> <td align="right"> 6.1%</td> </tr> </table><br/>At any given time, the Fund&#8217;s asset allocation may be affected by a variety of factors, such as whether the underlying funds are accepting additional investments.<br/><br/>The Fund&#8217;s indirect stock holdings are a diversified mix of U.S. and foreign large-, mid-, and small-capitalization stocks.<br/><br/>The Fund&#8217;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&#8217;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.<br/><br/>&#149; With approximately 79% 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&#8212;such as political upheaval, financial troubles, or natural disasters&#8212;will adversely affect the value of companies in any one 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.<br/><br/>&#149; With approximately 21% 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&#8217;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&#8217;s ability to make such payments will cause the price of that bond to decline, thus reducing the underlying fund&#8217;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&#8217;s call price and would be forced to reinvest the unanticipated proceeds at lower interest rates, resulting in a decline in the underlying fund&#8217;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&#8212;such as political upheaval, financial troubles, or natural disasters&#8212;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&#8217;s foreign currency exposure.<br/><br/>&#149; 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.<br/><br/>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 Annual Total Returns &#8212; Vanguard Institutional Target Retirement 2035 Fund Institutional Shares The following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows the performance of the Fund in its first full calendar year. The table shows how the average annual total returns of the Fund compare with those of relevant market indexes and a composite stock/bond index, which have investment characteristics similar to those of the Fund. Keep in mind that the Fund&#8217;s past performance (before and after taxes) does not indicate how the Fund will perform in the future. Updated performance information is available on our website at vanguard.com/performance or by calling Vanguard toll-free at 800-662-7447. Average Annual Total Returns for Periods Ended December 31, 2016 Actual after-tax returns depend on your tax situation and may differ from those shown in the preceding table. When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations. Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares may be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder. 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 a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows the performance of the Fund in its first full calendar year. The table shows how the average annual total returns of the Fund compare with those of relevant market indexes and a composite stock/bond index, which have investment characteristics similar to those of the Fund. Keep in mind that the Fund&#8217;s past performance (before and after taxes) does not indicate how the Fund will perform in the future. vanguard.com/performance 800-662-7447 year-to-date return highest return lowest return When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations. Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares may be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder. 0 0 0 0 0 0 0 0.0009 0.0009 9 29 51 115 9 29 51 115 0.0839 2015-06-26 2015-06-26 2015-06-26 2015-06-26 2015-06-26 2015-06-26 0.0839 0.0189 0.0779 0.0135 0.0506 0.0135 0.1267 0.0589 0.0265 0.026 0.0855 0.0223 0.05 2017-03-31 0.0555 0.0439 2016-09-30 0.0083 2016-12-31 <div style="display:none">~ http://www.vanguard.com/role/ScheduleAnnualFundOperatingExpenses000203 column period compact * ~</div> <div style="display:none">~ http://www.vanguard.com/role/ScheduleAnnualTotalReturnsBarChart000206 column period compact * ~</div> <div style="display:none">~ http://www.vanguard.com/role/ScheduleExpenseExampleTransposed000204 column period compact * ~</div> <div style="display:none">~ http://www.vanguard.com/role/ScheduleAverageAnnualTotalReturnsTransposed000207 column period compact * ~</div> <div style="display:none">~ http://www.vanguard.com/role/ScheduleShareholderFees000202 column period compact * ~</div> Vanguard Institutional Target Retirement 2040 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<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 (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&#8217;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 may pay transaction costs, such as purchase fees, when it buys and sells securities (or &#8220;turns over&#8221; 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&#8217;s performance. During the most recent fiscal period, the Fund&#8217;s portfolio turnover rate was 5% of the average value of its portfolio. 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 2040 (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&#8217;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 2040, the Fund&#8217;s asset allocation should become similar to that of the Institutional Target Retirement Income Fund. As of March 31, 2017, the Fund&#8217;s asset allocation among the underlying funds was as follows:<br/><br/><table border="0" cellspacing="0"> <tr> <td width="2%"></td> <td width="74%"></td> <td width="23%"></td></tr> <tr valign="bottom"> <td align="left"> &#149;</td> <td align="left"> Vanguard Total Stock Market Index Fund</td> <td align="right"> 52.1%</td> </tr> <tr valign="bottom"> <td align="left" style="text-indent:0.000259pt"> &#149;</td> <td align="left" style="text-indent:0.000275pt"> Vanguard Total International Stock Index Fund</td> <td align="right"> 34.8%</td> </tr> <tr valign="bottom"> <td align="left" style="text-indent:0.000259pt"> &#149;</td> <td align="left" style="text-indent:0.000244pt"> Vanguard Total Bond Market II Index Fund</td> <td align="right"> 9.2%</td> </tr> <tr valign="bottom"> <td align="left" style="text-indent:0.000259pt"> &#149;</td> <td align="left" style="text-indent:0.000183pt"> Vanguard Total International Bond Index Fund</td> <td align="right"> 3.9%</td> </tr> </table><br/>At any given time, the Fund&#8217;s asset allocation may be affected by a variety of factors, such as whether the underlying funds are accepting additional investments.<br/><br/>The Fund&#8217;s indirect stock holdings are a diversified mix of U.S. and foreign large-, mid-, and small-capitalization stocks.<br/><br/>The Fund&#8217;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&#8217;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.<br/><br/>&#149; With approximately 87% 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&#8212;such as political upheaval, financial troubles, or natural disasters&#8212;will adversely affect the value of companies in any one 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.<br/><br/>&#149; With approximately 13% 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&#8217;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&#8217;s ability to make such payments will cause the price of that bond to decline, thus reducing the underlying fund&#8217;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&#8217;s call price and would be forced to reinvest the unanticipated proceeds at lower interest rates, resulting in a decline in the underlying fund&#8217;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&#8212;such as political upheaval, financial troubles, or natural disasters&#8212;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&#8217;s foreign currency exposure.<br/><br/>&#149; 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.<br/><br/>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 Annual Total Returns &#8212; Vanguard Institutional Target Retirement 2040 Fund Institutional Shares The following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows the performance of the Fund in its first full calendar year. The table shows how the average annual total returns of the Fund compare with those of relevant market indexes and a composite stock/bond index, which have investment characteristics similar to those of the Fund. Keep in mind that the Fund&#8217;s past performance (before and after taxes) does not indicate how the Fund will perform in the future. Updated performance information is available on our website at vanguard.com/performance or by calling Vanguard toll-free at 800-662-7447. Average Annual Total Returns for Periods Ended December 31, 2016 During the periods shown in the bar chart, the highest return for a calendar quarter was 4.74% (quarter ended September 30, 2016), and the lowest return for a quarter was 0.86% (quarter ended March 31, 2016). Actual after-tax returns depend on your tax situation and may differ from those shown in the preceding table. When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations. Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares may be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder. 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 a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows the performance of the Fund in its first full calendar year. The table shows how the average annual total returns of the Fund compare with those of relevant market indexes and a composite stock/bond index, which have investment characteristics similar to those of the Fund. Keep in mind that the Fund&#8217;s past performance (before and after taxes) does not indicate how the Fund will perform in the future. vanguard.com/performance 800-662-7447 lowest return year-to-date return highest return When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations. Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares may be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder. 0 0 0 0 0 0 0 0.0009 0.0009 9 29 51 115 9 29 51 115 0.0881 2015-06-26 2015-06-26 2015-06-26 2015-06-26 2015-06-26 2015-06-26 0.0167 0.0823 0.0117 0.0121 0.1267 0.0589 0.026 0.0207 0.05 0.0474 2016-09-30 0.0086 2016-03-31 2017-03-31 0.0602 <div style="display:none">~ http://www.vanguard.com/role/ScheduleAnnualFundOperatingExpenses000213 column period compact * ~</div> <div style="display:none">~ http://www.vanguard.com/role/ScheduleAnnualTotalReturnsBarChart000216 column period compact * ~</div> <div style="display:none">~ http://www.vanguard.com/role/ScheduleExpenseExampleTransposed000214 column period compact * ~</div> <div style="display:none">~ http://www.vanguard.com/role/ScheduleAverageAnnualTotalReturnsTransposed000217 column period compact * ~</div> <div style="display:none">~ http://www.vanguard.com/role/ScheduleShareholderFees000212 column period compact * ~</div> Vanguard Institutional Target Retirement 2045 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<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 (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&#8217;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 may pay transaction costs, such as purchase fees, when it buys and sells securities (or &#8220;turns over&#8221; 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&#8217;s performance. During the most recent fiscal period, the Fund&#8217;s portfolio turnover rate was 4% of the average value of its portfolio. 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 2045 (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&#8217;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 2045, the Fund&#8217;s asset allocation should become similar to that of the Institutional Target Retirement Income Fund. As of March 31, 2017, the Fund&#8217;s asset allocation among the underlying funds was as follows:<br/><br/><table border="0" cellspacing="0"> <tr> <td width="2%"></td> <td width="74%"></td> <td width="23%"></td></tr> <tr valign="bottom"> <td align="left"> &#149;</td> <td align="left"> Vanguard Total Stock Market Index Fund</td> <td align="right"> 54.1%</td> </tr> <tr valign="bottom"> <td align="left"> &#149;</td> <td align="left"> Vanguard Total International Stock Index Fund</td> <td align="right"> 35.8%</td> </tr> <tr valign="bottom"> <td align="left" style="text-indent:0.000610pt"> &#149;</td> <td align="left" style="text-indent:0.000519pt"> Vanguard Total Bond Market II Index Fund</td> <td align="right"> 7.1%</td> </tr> <tr valign="bottom"> <td align="left" style="text-indent:0.000580pt"> &#149;</td> <td align="left" style="text-indent:0.000488pt"> Vanguard Total International Bond Index Fund</td> <td align="right"> 3.0%</td> </tr> </table><br/>At any given time, the Fund&#8217;s asset allocation may be affected by a variety of factors, such as whether the underlying funds are accepting additional investments.<br/><br/>The Fund&#8217;s indirect stock holdings are a diversified mix of U.S. and foreign large-, mid-, and small-capitalization stocks.<br/><br/>The Fund&#8217;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&#8217;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.<br/><br/>&#149; 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&#8212;such as political upheaval, financial troubles, or natural disasters&#8212;will adversely affect the value of companies in any one 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.<br/><br/>&#149; 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&#8217;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&#8217;s ability to make such payments will cause the price of that bond to decline, thus reducing the underlying fund&#8217;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&#8217;s call price and would be forced to reinvest the unanticipated proceeds at lower interest rates, resulting in a decline in the underlying fund&#8217;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&#8212;such as political upheaval, financial troubles, or natural disasters&#8212;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&#8217;s foreign currency exposure.<br/><br/>&#149; 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.<br/><br/>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 following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows the performance of the Fund in its first full calendar year. The table shows how the average annual total returns of the Fund compare with those of relevant market indexes and a composite stock/bond index, which have investment characteristics similar to those of the Fund. Keep in mind that the Fund&#8217;s past performance (before and after taxes) does not indicate how the Fund will perform in the future. Updated performance information is available on our website at vanguard.com/performance or by calling Vanguard toll-free at 800-662-7447. Annual Total Returns &#8212; Vanguard Institutional Target Retirement 2045 Fund Institutional Shares Average Annual Total Returns for Periods Ended December 31, 2016 Actual after-tax returns depend on your tax situation and may differ from those shown in the preceding table. When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations. Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares may be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder. 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 a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows the performance of the Fund in its first full calendar year. The table shows how the average annual total returns of the Fund compare with those of relevant market indexes and a composite stock/bond index, which have investment characteristics similar to those of the Fund. Keep in mind that the Fund&#8217;s past performance (before and after taxes) does not indicate how the Fund will perform in the future. vanguard.com/performance 800-662-7447 During the periods shown in the bar chart, the highest return for a calendar quarter was 4.85% (quarter ended September 30, 2016), and the lowest return for a quarter was 0.80% (quarter ended March 31, 2016). When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations. Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares may be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder. 0 0 0 0 0 0 0 0.0009 0.0009 9 29 51 115 0.0894 2015-06-26 2015-06-26 2015-06-26 2015-06-26 2015-06-26 2015-06-26 0.0894 0.0176 0.0838 0.0126 0.0541 0.0128 0.1267 0.0589 0.0265 0.026 0.0913 0.0216 0.04 year-to-date return 2017-03-31 0.0621 0.0485 2016-09-30 lowest return 0.008 2016-03-31 <div style="display:none">~ http://www.vanguard.com/role/ScheduleAnnualFundOperatingExpenses000223 column period compact * ~</div> <div style="display:none">~ http://www.vanguard.com/role/ScheduleAnnualTotalReturnsBarChart000226 column period compact * ~</div> <div style="display:none">~ http://www.vanguard.com/role/ScheduleExpenseExampleTransposed000224 column period compact * ~</div> <div style="display:none">~ http://www.vanguard.com/role/ScheduleAverageAnnualTotalReturnsTransposed000227 column period compact * ~</div> <div style="display:none">~ http://www.vanguard.com/role/ScheduleShareholderFees000222 column period compact * ~</div> Vanguard Institutional Target Retirement 2050 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<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 (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&#8217;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 may pay transaction costs, such as purchase fees, when it buys and sells securities (or &#8220;turns over&#8221; 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&#8217;s performance. During the most recent fiscal period, the Fund&#8217;s portfolio turnover rate was 4% of the average value of its portfolio. 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 2050 (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&#8217;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 2050, the Fund&#8217;s asset allocation should become similar to that of the Institutional Target Retirement Income Fund. As of March 31, 2017, the Fund&#8217;s asset allocation among the underlying funds was as follows:<br/><br/><table border="0" cellspacing="0"> <tr> <td width="2%"></td> <td width="74%"></td> <td width="23%"></td></tr> <tr valign="bottom"> <td align="left"> &#149;</td> <td align="left"> Vanguard Total Stock Market Index Fund</td> <td align="center"> 54.1%</td> </tr> <tr valign="bottom"> <td align="left" style="text-indent:0.000259pt"> &#149;</td> <td align="left" style="text-indent:0.000275pt"> Vanguard Total International Stock Index Fund</td> <td align="center"> 35.8%</td> </tr> <tr valign="bottom"> <td align="left" style="text-indent:0.000259pt"> &#149;</td> <td align="left" style="text-indent:0.000183pt"> Vanguard Total Bond Market II Index Fund</td> <td align="center"> 7.1%</td> </tr> <tr valign="bottom"> <td align="left" style="text-indent:0.000549pt"> &#149;</td> <td align="left" style="text-indent:0.000488pt"> Vanguard Total International Bond Index Fund</td> <td align="center"> 3.0%</td> </tr> </table><br/>At any given time, the Fund&#8217;s asset allocation may be affected by a variety of factors, such as whether the underlying funds are accepting additional investments.<br/><br/>The Fund&#8217;s indirect stock holdings are a diversified mix of U.S. and foreign large-, mid-, and small-capitalization stocks.<br/><br/>The Fund&#8217;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&#8217;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.<br/><br/>&#149; 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&#8212;such as political upheaval, financial troubles, or natural disasters&#8212;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.<br/><br/>&#149; 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&#8217;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&#8217;s ability to make such payments will cause the price of that bond to decline, thus reducing the underlying fund&#8217;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&#8217;s call price and would be forced to reinvest the unanticipated proceeds at lower interest rates, resulting in a decline in the underlying fund&#8217;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&#8212;such as political upheaval, financial troubles, or natural disasters&#8212;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&#8217;s foreign currency exposure.<br/><br/>&#149; 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.<br/><br/>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 following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows the performance of the Fund in its first full calendar year. The table shows how the average annual total returns of the Fund compare with those of relevant market indexes and a composite stock/bond index, which have investment characteristics similar to those of the Fund. Keep in mind that the Fund&#8217;s past performance (before and after taxes) does not indicate how the Fund will perform in the future. Updated performance information is available on our website at vanguard.com/performance or by calling Vanguard toll-free at 800-662-7447. Annual Total Returns &#8212; Vanguard Institutional Target Retirement 2050 Fund Institutional Shares During the periods shown in the bar chart, the highest return for a calendar quarter was 4.79% (quarter ended September 30, 2016), and the lowest return for a quarter was 0.86% (quarter ended March 31, 2016). Average Annual Total Returns for Periods Ended December 31, 2016 Actual after-tax returns depend on your tax situation and may differ from those shown in the preceding table. When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations. Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares may be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder. 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 a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows the performance of the Fund in its first full calendar year. The table shows how the average annual total returns of the Fund compare with those of relevant market indexes and a composite stock/bond index, which have investment characteristics similar to those of the Fund. Keep in mind that the Fund&#8217;s past performance (before and after taxes) does not indicate how the Fund will perform in the future. vanguard.com/performance 800-662-7447 When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations. Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares may be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder. 0 0 0 0 0 0 0 0.0009 0.0009 9 29 51 115 0.0895 2015-06-26 2015-06-26 2015-06-26 2015-06-26 2015-06-26 2015-06-26 0.0895 0.0176 0.084 0.0127 0.054 0.0128 0.1267 0.0589 0.0265 0.026 0.0913 0.0216 0.04 year-to-date return 2017-03-31 0.0621 highest return 0.0479 2016-09-30 lowest return 0.0086 2016-03-31 <div style="display:none">~ http://www.vanguard.com/role/ScheduleAnnualFundOperatingExpenses000233 column period compact * ~</div> <div style="display:none">~ http://www.vanguard.com/role/ScheduleAnnualTotalReturnsBarChart000236 column period compact * ~</div> <div style="display:none">~ http://www.vanguard.com/role/ScheduleExpenseExampleTransposed000234 column period compact * ~</div> <div style="display:none">~ http://www.vanguard.com/role/ScheduleAverageAnnualTotalReturnsTransposed000237 column period compact * ~</div> <div style="display:none">~ http://www.vanguard.com/role/ScheduleShareholderFees000232 column period compact * ~</div> Vanguard Institutional Target Retirement 2055 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<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 (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&#8217;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 may pay transaction costs, such as purchase fees, when it buys and sells securities (or &#8220;turns over&#8221; 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&#8217;s performance. During the most recent fiscal period, the Fund&#8217;s portfolio turnover rate was 4% of the average value of its portfolio. 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 2055 (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&#8217;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 2055, the Fund&#8217;s asset allocation should become similar to that of the Institutional Target Retirement Income Fund. As of March 31, 2017, the Fund&#8217;s asset allocation among the underlying funds was as follows:<br/><br/><table border="0" cellspacing="0"><tr valign="bottom"><td align="left" style="text-indent: 0pt;">&#149;</td><td align="left" style="text-indent: 0pt;">Vanguard Total Stock Market Index Fund</td><td align="center">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54.1%</td></tr><tr valign="bottom"><td align="left" style="text-indent: 0pt;">&#149;</td><td align="left" style="text-indent: 0pt;">Vanguard Total International Stock Index Fund</td><td align="center">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35.8%</td></tr><tr valign="bottom"><td align="left" style="text-indent: 0pt;">&#149;</td><td align="left" style="text-indent: 0pt;">Vanguard Total Bond Market II Index Fund</td><td align="center">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.1%</td></tr><tr valign="bottom"><td align="left">&#149;</td><td align="left">Vanguard Total International Bond Index Fund</td><td align="center">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.0%</td></tr></table><br/>At any given time, the Fund&#8217;s asset allocation may be affected by a variety of factors, such as whether the underlying funds are accepting additional investments.<br/><br/>The Fund&#8217;s indirect stock holdings are a diversified mix of U.S. and foreign large-, mid-, and small-capitalization stocks.<br/><br/>The Fund&#8217;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&#8217;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.<br/><br/>&#149; 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&#8212;such as political upheaval, financial troubles, or natural disasters&#8212;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.<br/><br/>&#149; 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&#8217;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&#8217;s ability to make such payments will cause the price of that bond to decline, thus reducing the underlying fund&#8217;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&#8217;s call price and would be forced to reinvest the unanticipated proceeds at lower interest rates, resulting in a decline in the underlying fund&#8217;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&#8212;such as political upheaval, financial troubles, or natural disasters&#8212;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&#8217;s foreign currency exposure.<br/><br/>&#149; 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.<br/><br/>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 Annual Total Returns &#151; Vanguard Institutional Target Retirement 2055 Fund Institutional Shares The following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows the performance of the Fund in its first full calendar year. The table shows how the average annual total returns of the Fund compare with those of relevant market indexes and a composite stock/bond index, which have investment characteristics similar to those of the Fund. Keep in mind that the Fund&#8217;s past performance (before and after taxes) does not indicate how the Fund will perform in the future. Updated performance information is available on our website at vanguard.com/performance or by calling Vanguard toll-free at 800-662-7447. During the periods shown in the bar chart, the highest return for a calendar quarter was 4.79% (quarter ended September 30, 2016), and the lowest return for a quarter was 0.86% (quarter ended March 31, 2016). Average Annual Total Returns for Periods Ended December 31, 2016 Actual after-tax returns depend on your tax situation and may differ from those shown in the preceding table. When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations. Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares may be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder. 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 a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows the performance of the Fund in its first full calendar year. The table shows how the average annual total returns of the Fund compare with those of relevant market indexes and a composite stock/bond index, which have investment characteristics similar to those of the Fund. Keep in mind that the Fund&#8217;s past performance (before and after taxes) does not indicate how the Fund will perform in the future. vanguard.com/performance 800-662-7447 When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations. Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares may be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder. 0 0 0 0 0 0 0 0.0009 0.0009 9 29 51 115 9 29 51 115 0.0894 0.0894 0.0175 0.0842 0.0128 0.0538 0.0127 0.1267 0.0589 0.0265 0.026 0.0913 0.0216 0.04 year-to-date return 2017-03-31 0.0625 0.0479 2016-09-30 lowest return 0.0086 2016-03-31 highest return <div style="display:none">~ http://www.vanguard.com/role/ScheduleAnnualFundOperatingExpenses000243 column period compact * ~</div> <div style="display:none">~ http://www.vanguard.com/role/ScheduleAnnualTotalReturnsBarChart000246 column period compact * ~</div> <div style="display:none">~ http://www.vanguard.com/role/ScheduleExpenseExampleTransposed000244 column period compact * ~</div> <div style="display:none">~ http://www.vanguard.com/role/ScheduleAverageAnnualTotalReturnsTransposed000247 column period compact * ~</div> <div style="display:none">~ http://www.vanguard.com/role/ScheduleShareholderFees000242 column period compact * ~</div> Vanguard Institutional Target Retirement 2060 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<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 (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&#8217;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 may pay transaction costs, such as purchase fees, when it buys and sells securities (or &#8220;turns over&#8221; 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&#8217;s performance. During the most recent fiscal period, the Fund&#8217;s portfolio turnover rate was 6% of the average value of its portfolio. 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 2060 (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&#8217;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 2060, the Fund&#8217;s asset allocation should become similar to that of the Institutional Target Retirement Income Fund. As of March 31, 2017, the Fund&#8217;s asset allocation among the underlying funds was as follows:<br/><br/><table border="0" cellspacing="0"> <tr> <td width="2%"></td> <td width="74%"></td> <td width="23%"></td></tr> <tr valign="bottom"> <td align="left"> &#8226;</td> <td align="left"> Vanguard&nbsp;Total&nbsp;Stock Market&nbsp;Index&nbsp;Fund</td> <td align="right"> 54.1%</td> </tr> <tr valign="bottom"> <td align="left"> &#8226;</td> <td align="left"> Vanguard&nbsp;Total&nbsp;International&nbsp;Stock&nbsp;Index&nbsp;Fund&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td> <td align="right"> 35.8%</td> </tr> <tr valign="bottom"> <td align="left" style="text-indent:0.000259pt"> &#8226;</td> <td align="left" style="text-indent:0.000183pt"> Vanguard&nbsp;Total&nbsp;Bond&nbsp;Market&nbsp;II&nbsp;Index&nbsp;Fund</td> <td align="right"> 7.1%</td> </tr> <tr valign="bottom"> <td align="left" style="text-indent:0.000259pt"> &#8226;</td> <td align="left" style="text-indent:0.000183pt"> Vanguard&nbsp;Total&nbsp;International&nbsp;Bond&nbsp;Index&nbsp;Fund</td> <td align="right"> 3.0%</td> </tr> </table><br/>At any given time, the Fund&#8217;s asset allocation may be affected by a variety of factors, such as whether the underlying funds are accepting additional investments.<br/><br/>The Fund&#8217;s indirect stock holdings are a diversified mix of U.S. and foreign large-, mid-, and small-capitalization stocks.<br/><br/>The Fund&#8217;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&#8217;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.<br/><br/>&#149; 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&#8212;such as political upheaval, financial troubles, or natural disasters&#8212;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.<br/><br/>&#149; 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&#8217;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&#8217;s ability to make such payments will cause the price of that bond to decline, thus reducing the underlying fund&#8217;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&#8217;s call price and would be forced to reinvest the unanticipated proceeds at lower interest rates, resulting in a decline in the underlying fund&#8217;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&#8212;such as political upheaval, financial troubles, or natural disasters&#8212;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&#8217;s foreign currency exposure.<br/><br/>&#149; 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.<br/><br/>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 Annual Total Returns &#8212; Vanguard Institutional Target Retirement 2060 Fund Institutional Shares The following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows the performance of the Fund in its first full calendar year. The table shows how the average annual total returns of the Fund compare with those of relevant market indexes and a composite stock/bond index, which have investment characteristics similar to those of the Fund. Keep in mind that the Fund&#8217;s past performance (before and after taxes) does not indicate how the Fund will perform in the future. Updated performance information is available on our website at vanguard.com/performance or by calling Vanguard toll-free at 800-662-7447. Average Annual Total Returns for Periods Ended December 31, 2016 During the periods shown in the bar chart, the highest return for a calendar quarter was 4.85% (quarter ended September 30, 2016), and the lowest return for a quarter was 0.80% (quarter ended March 31, 2016). Actual after-tax returns depend on your tax situation and may differ from those shown in the preceding table. When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations. Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares may be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder. 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 a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows the performance of the Fund in its first full calendar year. The table shows how the average annual total returns of the Fund compare with those of relevant market indexes and a composite stock/bond index, which have investment characteristics similar to those of the Fund. Keep in mind that the Fund&#8217;s past performance (before and after taxes) does not indicate how the Fund will perform in the future. vanguard.com/performance 800-662-7447 When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations. Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares may be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder. 0 0 0 0 0 0 0 0.0009 0.0009 9 29 51 115 0.0894 2015-06-26 2015-06-26 2015-06-26 2015-06-26 2015-06-26 2015-06-26 0.0894 0.0174 0.0842 0.0126 0.0538 0.0126 0.1267 0.0589 0.0265 0.026 0.0913 0.0216 0.06 year-to-date return 2017-03-31 0.062 0.0485 2016-09-30 lowest return 0.008 2016-03-31 highest return <div style="display:none">~ http://www.vanguard.com/role/ScheduleAnnualFundOperatingExpenses000253 column period compact * ~</div> <div style="display:none">~ http://www.vanguard.com/role/ScheduleAnnualTotalReturnsBarChart000256 column period compact * ~</div> <div style="display:none">~ http://www.vanguard.com/role/ScheduleExpenseExampleTransposed000254 column period compact * ~</div> <div style="display:none">~ http://www.vanguard.com/role/ScheduleAverageAnnualTotalReturnsTransposed000257 column period compact * ~</div> <div style="display:none">~ http://www.vanguard.com/role/ScheduleShareholderFees000252 column period compact * ~</div> 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<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 (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&#8217;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 may pay transaction costs, such as purchase fees, when it buys and sells securities (or &#8220;turns over&#8221; 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&#8217;s performance. 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&#8217;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&#8217;s asset allocation should become similar to that of the Institutional Target Retirement Income Fund. The Fund&#8217;s asset allocation among the underlying funds is as follows:<br/><br/><table border="0" cellspacing="0"> <tr> <td width="2%"></td> <td width="74%"></td> <td width="23%"></td></tr> <tr valign="bottom"> <td align="left"> &#149;</td> <td align="left"> Vanguard Total Stock Market Index Fund</td> <td align="right"> 54.0%</td> </tr> <tr valign="bottom"> <td align="left" style="text-indent:0.000351pt"> &#149;</td> <td align="left" style="text-indent:0.000336pt"> Vanguard Total International Stock Index Fund</td> <td align="right"> 36.0%</td> </tr> <tr valign="bottom"> <td align="left" style="text-indent:0.000351pt"> &#149;</td> <td align="left" style="text-indent:0.000244pt"> Vanguard Total Bond Market II Index Fund</td> <td align="right"> 7.0%</td> </tr> <tr valign="bottom"> <td align="left" style="text-indent:0.000397pt"> &#149;</td> <td align="left" style="text-indent:0.000305pt"> Vanguard Total International Bond Index Fund</td> <td align="right"> 3.0%</td> </tr> </table><br/>At any given time, the Fund&#8217;s asset allocation may be affected by a variety of factors, such as whether the underlying funds are accepting additional investments.<br/><br/>The Fund&#8217;s indirect stock holdings are a diversified mix of U.S. and foreign large-, mid-, and small-capitalization stocks.<br/><br/>The Fund&#8217;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&#8217;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.<br/><br/>&#149; 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&#8212;such as political upheaval, financial troubles, or natural disasters&#8212;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.<br/><br/>&#149; 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&#8217;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&#8217;s ability to make such payments will cause the price of that bond to decline, thus reducing the underlying fund&#8217;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&#8217;s call price and would be forced to reinvest the unanticipated proceeds at lower interest rates, resulting in a decline in the underlying fund&#8217;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&#8212;such as political upheaval, financial troubles, or natural disasters&#8212;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&#8217;s foreign currency exposure.<br/><br/>&#149; 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.<br/><br/>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 July 12, 2017, so performance information is not yet available. 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 a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The Fund began operations on July 12, 2017, so performance information is not yet available. 0 0 0 0 0 0 0 0.001 0.001 10 32 56 128 10 32 56 128 <div style="display:none">~ http://www.vanguard.com/role/ScheduleAnnualFundOperatingExpenses000263 column period compact * ~</div> <div style="display:none">~ http://www.vanguard.com/role/ScheduleExpenseExampleTransposed000264 column period compact * ~</div> <div style="display:none">~ http://www.vanguard.com/role/ScheduleShareholderFees000262 column period compact * ~</div> 2015-06-26 2015-06-26 2015-06-26 2015-06-26 2015-06-26 2015-06-26 9 29 51 115 9 29 51 115 9 29 51 115 16 <div style="display:none">~ http://www.vanguard.com/role/ScheduleAverageAnnualTotalReturnsTransposed000167 column period compact * ~</div> 52 During the periods shown in the bar chart, the highest return for a calendar quarter was 4.39% (quarter ended September 30, 2016), and the lowest return for a quarter was 0.83% (quarter ended December 31, 2016). 90 205 highest return <div style="display:none">~ http://www.vanguard.com/role/ScheduleAnnualTotalReturnsBarChart000126 column period compact * ~</div> <div style="display:none">~ http://www.vanguard.com/role/ScheduleAnnualTotalReturnsBarChart000016 column period compact * ~</div> 2017-03-31 0.0619 9 29 51 115 The following table describes the fees and expenses you may pay if you buy and hold shares of the Fund. 2015-06-26 2015-06-26 2015-06-26 2015-06-26 2015-06-26 2015-06-26 <div style="display:none">~ http://www.vanguard.com/role/ScheduleExpenseExampleTransposed000064 column period compact * ~</div> vanguard.com/performance The following table describes the fees and expenses you may pay if you buy and hold shares of the Fund. 2015-06-26 2015-06-26 2015-06-26 2015-06-26 2015-06-26 2015-06-26 13 42 73 166 year-to-date return 2007-03-31 0.0617 <div style="display:none">~ http://www.vanguard.com/role/ScheduleExpenseExampleTransposed000154 column period compact * ~</div> 0.0881 0.0533 0.0265 0.0898 13 42 73 166 -0.1063 14 45 79 179 2015-06-26 2015-06-26 2015-06-26 2015-06-26 2015-06-26 2015-06-26 14 45 79 179 16 52 90 205 0.113 -0.1479 9 29 51 115 Comparative Indexes (reflect no deduction for fees, expenses, or taxes) /year The year-to-date return as of the most recent calendar quarter, which ended on March 31, 2017, was 3.37%. /year The year-to-date return as of the most recent calendar quarter, which ended on March 31, 2017, was 6.25%. The year-to-date return as of the most recent calendar quarter, which ended on March 31, 2017, was 4.10%. The year-to-date return as of the most recent calendar quarter, which ended on March 31, 2017, was 5.52%. The year-to-date return as of the most recent calendar quarter, which ended on March 31, 2017, was 2.52%. Comparative Indexes (reflect no deduction for fees, expenses, or taxes) The year-to-date return as of the most recent calendar quarter, which ended on March 31, 2017, was 6.21%. /year The year-to-date return as of the most recent calendar quarter, which ended on March 31, 2017, was 2.45%. The year-to-date return as of the most recent calendar quarter, which ended on March 31, 2017, was 6.20%. /year The year-to-date return as of the most recent calendar quarter, which ended on March 31, 2017, was 2.53%. The year-to-date return as of the most recent calendar quarter, which ended on March 31, 2017, was 4.12%. Comparative Indexes (reflect no deduction for fees, expenses, or taxes) /year The year-to-date return as of the most recent calendar quarter, which ended on March 31, 2017, was 5.55%. /year Comparative Indexes (reflect no deduction for fees, expenses, or taxes) The year-to-date return as of the most recent calendar quarter, which ended on March 31, 2017, was 6.19%. The year-to-date return as of the most recent calendar quarter, which ended on March 31, 2017, was 5.09%. The year-to-date return as of the most recent calendar quarter, which ended on March 31, 2017, was 5.10%. The year-to-date return as of the most recent calendar quarter, which ended on March 31, 2017, was 4.62%. The year-to-date return as of the most recent calendar quarter, which ended on March 31, 2017, was 6.17%. Comparative Indexes (reflect no deduction for fees, expenses, or taxes) The year-to-date return as of the most recent calendar quarter, which ended on March 31, 2017, was 4.59%. /year The year-to-date return as of the most recent calendar quarter, which ended on March 31, 2017, was 3.38%. The year-to-date return as of the most recent calendar quarter, which ended on March 31, 2017, was 6.16%. The year-to-date return as of the most recent calendar quarter, which ended on March 31, 2017, was 2.47%. The year-to-date return as of the most recent calendar quarter, which ended on March 31, 2017, was 6.02%. /year /year /year The year-to-date return as of the most recent calendar quarter, which ended on March 31, 2017, was 6.19%. The year-to-date return as of the most recent calendar quarter, which ended on March 31, 2017, was 6.02%. Comparative Indexes (reflect no deduction for fees, expenses, or taxes) The year-to-date return as of the most recent calendar quarter, which ended on March 31, 2017, was 6.21%. 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Retail | Vanguard Target Retirement Income Fund
Vanguard Target Retirement Income Fund
Investment Objective
The Fund seeks to provide current income and some capital appreciation.
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)
Shareholder Fees
Retail
Vanguard Target Retirement Income Fund
Investor Shares
USD ($)
Sales Charge (Load) Imposed on Purchases none
Purchase Fee none
Sales Charge (Load) Imposed on Reinvested Dividends none
Redemption Fee none
Account Service Fee (for certain fund account balances below $10,000) $ 20 [1]
[1] /year
Annual Fund Operating Expenses

(Expenses that you pay each year as a percentage of the value of your investment)
Annual Fund Operating Expenses
Retail
Vanguard Target Retirement Income Fund
Investor Shares
Management Fees none
12b-1 Distribution Fee none
Other Expenses none
Acquired Fund Fees and Expenses 0.13%
Total Annual Fund Operating Expenses 0.13%
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 $10,000 in the Fund’s shares. This example assumes that the Fund provides a return of 5% each year and that total annual fund operating expenses of the Fund and its underlying funds remain as stated in the preceding table. You would incur these hypothetical expenses whether or not you redeem your investment at the end of the given period. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
Expense Example
1 Year
3 Years
5 Years
10 Years
Retail | Vanguard Target Retirement Income Fund | Investor Shares | USD ($) 13 42 73 166
Portfolio Turnover
The Fund may pay transaction costs, such as purchase fees, 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. During the most recent fiscal period, the Fund’s portfolio turnover rate was 9% of the average value of its portfolio.
Principal Investment Strategies
The Fund invests in other Vanguard mutual funds according to an asset allocation strategy designed for investors currently in retirement. As of March 31, 2017, the Fund’s asset allocation among the underlying funds was as follows:

Vanguard Total Bond Market II Index Fund       37.4%
Vanguard Total Stock Market Index Fund       18.0%
Vanguard Short-Term Inflation-Protected Securities Index Fund       16.6%
Vanguard Total International Bond Index Fund       15.9%
Vanguard Total International Stock Index Fund       12.1%

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 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; inflation-protected public obligations issued by the U.S. Treasury; 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).

The Fund’s indirect stock holdings are a diversified mix of U.S. and foreign large-, mid-, and small-capitalization stocks.
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. There is no guarantee that the Fund will provide adequate income through retirement. Because bonds and short-term investments usually are less volatile than stocks and because the Fund invests most of its assets in bonds and short-term investments, the Fund’s overall level of risk should be low to moderate.

• With approximately 70% 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.

• With approximately 30% 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 any one 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.

• 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 following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund has varied from one calendar year to another over the periods shown. The table shows how the average annual total returns of the Fund compare with those of relevant market indexes and a composite bond/stock index, which have investment characteristics similar to those of the Fund. Keep in mind that the Fund’s past performance (before and after taxes) does not indicate how the Fund will perform in the future. Updated performance information is available on our website at vanguard.com/performance or by calling Vanguard toll-free at 800-662-7447.
Annual Total Returns — Vanguard Target Retirement Income Fund Investor Shares
Bar Chart
[1] The year-to-date return as of the most recent calendar quarter, which ended on March 31, 2017, was 2.45%.
During the periods shown in the bar chart, the highest return for a calendar quarter was 7.44% (quarter ended September 30, 2009), and the lowest return for a quarter was –5.47% (quarter ended December 31, 2008).
Average Annual Total Returns for Periods Ended December 31, 2016
Average Annual Total Returns - Retail - Vanguard Target Retirement Income Fund
1 Year
5 Years
10 Years
Investor Shares 5.25% 4.91% 4.88%
Investor Shares | Return After Taxes on Distributions 4.42% 4.01% 3.91%
Investor Shares | Return After Taxes on Distributions and Sale of Fund Shares 3.16% 3.55% 3.52%
Bloomberg Barclays U.S. Aggregate Bond Index [1] 2.65% 2.23% 4.34%
MSCI US Broad Market Index [1] 12.67% 14.71% 7.26%
Target Income Composite Index [1] 5.35% 5.10% 4.94%
[1] Comparative Indexes (reflect no deduction for fees, expenses, or taxes)
Actual after-tax returns depend on your tax situation and may differ from those shown in the preceding table. When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations. Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares may be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder.
XML 12 R8.htm IDEA: XBRL DOCUMENT v3.7.0.1
Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Registrant Name dei_EntityRegistrantName VANGUARD CHESTER FUNDS
Prospectus Date rr_ProspectusDate Jul. 12, 2017
Retail | Vanguard Target Retirement Income Fund  
Risk/Return: rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading Vanguard Target Retirement Income Fund
Objective [Heading] rr_ObjectiveHeading Investment Objective
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock The Fund seeks to provide current income and some capital appreciation.
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 may pay transaction costs, such as purchase fees, 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. During the most recent fiscal period, the Fund’s portfolio turnover rate was 9% of the average value of its portfolio.
Portfolio Turnover, Rate rr_PortfolioTurnoverRate 9.00%
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 currently in retirement. As of March 31, 2017, the Fund’s asset allocation among the underlying funds was as follows:

Vanguard Total Bond Market II Index Fund       37.4%
Vanguard Total Stock Market Index Fund       18.0%
Vanguard Short-Term Inflation-Protected Securities Index Fund       16.6%
Vanguard Total International Bond Index Fund       15.9%
Vanguard Total International Stock Index Fund       12.1%

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 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; inflation-protected public obligations issued by the U.S. Treasury; 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).

The Fund’s indirect stock holdings are a diversified mix of U.S. and foreign large-, mid-, and small-capitalization stocks.
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. There is no guarantee that the Fund will provide adequate income through retirement. Because bonds and short-term investments usually are less volatile than stocks and because the Fund invests most of its assets in bonds and short-term investments, the Fund’s overall level of risk should be low to moderate.

• With approximately 70% 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.

• With approximately 30% 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 any one 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.

• 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 following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund has varied from one calendar year to another over the periods shown. The table shows how the average annual total returns of the Fund compare with those of relevant market indexes and a composite bond/stock index, which have investment characteristics similar to those of the Fund. Keep in mind that the Fund’s past performance (before and after taxes) does not indicate how the Fund will perform in the future. Updated performance information is available on our website at vanguard.com/performance or by calling Vanguard toll-free at 800-662-7447.
Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns The following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund has varied from one calendar year to another over the periods shown. The table shows how the average annual total returns of the Fund compare with those of relevant market indexes and a composite bond/stock index, which have investment characteristics similar to those of the Fund.
Performance Availability Phone [Text] rr_PerformanceAvailabilityPhone 800-662-7447
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress vanguard.com/performance
Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture Keep in mind that the Fund’s past performance (before and after taxes) does not indicate how the Fund will perform in the future.
Bar Chart [Heading] rr_BarChartHeading Annual Total Returns — Vanguard Target Retirement Income Fund Investor Shares
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock During the periods shown in the bar chart, the highest return for a calendar quarter was 7.44% (quarter ended September 30, 2009), and the lowest return for a quarter was –5.47% (quarter ended December 31, 2008).
Performance Table Heading rr_PerformanceTableHeading Average Annual Total Returns for Periods Ended December 31, 2016
Performance Table Uses Highest Federal Rate rr_PerformanceTableUsesHighestFederalRate When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations.
Performance Table Not Relevant to Tax Deferred rr_PerformanceTableNotRelevantToTaxDeferred Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan.
Performance Table Explanation after Tax Higher rr_PerformanceTableExplanationAfterTaxHigher Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares may be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder.
Performance Table Narrative rr_PerformanceTableNarrativeTextBlock Actual after-tax returns depend on your tax situation and may differ from those shown in the preceding table. When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations. Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares may be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder.
Retail | Vanguard Target Retirement Income 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 0.13%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.13%
1 Year rr_ExpenseExampleYear01 $ 13
3 Years rr_ExpenseExampleYear03 42
5 Years rr_ExpenseExampleYear05 73
10 Years rr_ExpenseExampleYear10 166
1 Year rr_ExpenseExampleNoRedemptionYear01 13
3 Years rr_ExpenseExampleNoRedemptionYear03 42
5 Years rr_ExpenseExampleNoRedemptionYear05 73
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 166
2007 rr_AnnualReturn2007 8.17% [2]
2008 rr_AnnualReturn2008 (10.93%) [2]
2009 rr_AnnualReturn2009 14.28% [2]
2010 rr_AnnualReturn2010 9.39% [2]
2011 rr_AnnualReturn2011 5.25% [2]
2012 rr_AnnualReturn2012 8.23% [2]
2013 rr_AnnualReturn2013 5.87% [2]
2014 rr_AnnualReturn2014 5.54% [2]
2015 rr_AnnualReturn2015 (0.17%) [2]
2016 rr_AnnualReturn2016 5.25% [2]
Year to Date Return, Label rr_YearToDateReturnLabel year-to-date return
Bar Chart, Year to Date Return, Date rr_BarChartYearToDateReturnDate Mar. 31, 2017
Bar Chart, Year to Date Return rr_BarChartYearToDateReturn 2.45%
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel highest return
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Sep. 30, 2009
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 7.44%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel lowest return
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Dec. 31, 2008
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (5.47%)
1 Year rr_AverageAnnualReturnYear01 5.25%
5 Years rr_AverageAnnualReturnYear05 4.91%
10 Years rr_AverageAnnualReturnYear10 4.88%
Retail | Vanguard Target Retirement Income Fund | Return After Taxes on Distributions | Investor Shares  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 4.42%
5 Years rr_AverageAnnualReturnYear05 4.01%
10 Years rr_AverageAnnualReturnYear10 3.91%
Retail | Vanguard Target Retirement Income Fund | Return After Taxes on Distributions and Sale of Fund Shares | Investor Shares  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 3.16%
5 Years rr_AverageAnnualReturnYear05 3.55%
10 Years rr_AverageAnnualReturnYear10 3.52%
Retail | Vanguard Target Retirement Income Fund | Bloomberg Barclays U.S. Aggregate Bond Index  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 2.65% [3]
5 Years rr_AverageAnnualReturnYear05 2.23% [3]
10 Years rr_AverageAnnualReturnYear10 4.34% [3]
Retail | Vanguard Target Retirement Income Fund | MSCI US Broad Market Index  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 12.67% [3]
5 Years rr_AverageAnnualReturnYear05 14.71% [3]
10 Years rr_AverageAnnualReturnYear10 7.26% [3]
Retail | Vanguard Target Retirement Income Fund | Target Income Composite Index  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 5.35% [3]
5 Years rr_AverageAnnualReturnYear05 5.10% [3]
10 Years rr_AverageAnnualReturnYear10 4.94% [3]
[1] /year
[2] The year-to-date return as of the most recent calendar quarter, which ended on March 31, 2017, was 2.45%.
[3] Comparative Indexes (reflect no deduction for fees, expenses, or taxes)
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Retail | Vanguard Target Retirement 2010 Fund
Vanguard Target Retirement 2010 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)
Shareholder Fees
Retail
Vanguard Target Retirement 2010 Fund
Investor Shares
USD ($)
Sales Charge (Load) Imposed on Purchases none
Purchase Fee none
Sales Charge (Load) Imposed on Reinvested Dividends none
Redemption Fee none
Account Service Fee (for certain fund account balances below $10,000) $ 20 [1]
[1] /year
Annual Fund Operating Expenses

(Expenses that you pay each year as a percentage of the value of your investment)
Annual Fund Operating Expenses
Retail
Vanguard Target Retirement 2010 Fund
Investor Shares
Management Fees none
12b-1 Distribution Fee none
Other Expenses none
Acquired Fund Fees and Expenses 0.13%
Total Annual Fund Operating Expenses 0.13%
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 $10,000 in the Fund’s shares. This example assumes that the Fund provides a return of 5% each year and that total annual fund operating expenses of the Fund and its underlying funds remain as stated in the preceding table. You would incur these hypothetical expenses whether or not you redeem your investment at the end of the given period. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
Expense Example
1 Year
3 Years
5 Years
10 Years
Retail | Vanguard Target Retirement 2010 Fund | Investor Shares | USD ($) 13 42 73 166
Portfolio Turnover
The Fund may pay transaction costs, such as purchase fees, 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. During the most recent fiscal period, the Fund’s portfolio turnover rate was 6% of the average value of its portfolio.
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 2010 (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 2010, the Fund’s asset allocation should become similar to that of the Target Retirement Income Fund. As of March 31, , the Fund’s asset allocation among the underlying funds was as follows:

Vanguard Total Bond Market II Index Fund 37.1%
Vanguard Total Stock Market Index Fund 18.3%
Vanguard Short-Term Inflation-Protected Securities Index Fund 16.5%
Vanguard Total International Bond Index Fund 15.8%
Vanguard Total International Stock Index Fund 12.3%

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 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; inflation-protected public obligations issued by the U.S. Treasury; 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).

The Fund’s indirect stock holdings are a diversified mix of U.S. and foreign large-, mid-, and small-capitalization stocks.
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 fixed income securities such as bonds usually are less volatile than stocks and because the Fund currently invests a significant portion of its assets in fixed income securities, the Fund’s overall level of risk should be lower than that of funds investing entirely in stocks.

• With approximately 69% 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.

• With approximately 31% 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 any one 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.

• 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 following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund has varied from one calendar year to another over the periods shown. The table shows how the average annual total returns of the Fund compare with those of relevant market indexes and a composite bond/stock index, which have investment characteristics similar to those of the Fund. Keep in mind that the Fund’s past performance (before and after taxes) does not indicate how the Fund will perform in the future. Updated performance information is available on our website at vanguard.com/performance or by calling Vanguard toll-free at 800-662-7447.
Annual Total Returns — Vanguard Target Retirement 2010 Fund Investor Shares
Bar Chart
[1] The year-to-date return as of the most recent calendar quarter, which ended on March 31, 2017, was 2.53%.
During the periods shown in the bar chart, the highest return for a calendar quarter was 10.55% (quarter ended June 30, 2009), and the lowest return for a quarter was –10.63% (quarter ended December 31, 2008).
Average Annual Total Returns for Periods Ended December 31, 2016
Average Annual Total Returns - Retail - Vanguard Target Retirement 2010 Fund
1 Year
5 Years
10 Years
Investor Shares 5.22% 5.97% 4.61%
Investor Shares | Return After Taxes on Distributions 4.18% 4.94% 3.71%
Investor Shares | Return After Taxes on Distributions and Sale of Fund Shares 3.37% 4.43% 3.40%
Bloomberg Barclays U.S. Aggregate Bond Index [1] 2.65% 2.23% 4.34%
MSCI US Broad Market Index [1] 12.67% 14.71% 7.26%
Target 2010 Composite Index [1] 5.44% 6.16% 4.67%
[1] Comparative Indexes (reflect no deduction for fees, expenses, or taxes)
Actual after-tax returns depend on your tax situation and may differ from those shown in the preceding table. When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations. Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares may be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder.
XML 15 R15.htm IDEA: XBRL DOCUMENT v3.7.0.1
Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Registrant Name dei_EntityRegistrantName VANGUARD CHESTER FUNDS
Prospectus Date rr_ProspectusDate Jul. 12, 2017
Retail | Vanguard Target Retirement 2010 Fund  
Risk/Return: rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading Vanguard Target Retirement 2010 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 may pay transaction costs, such as purchase fees, 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. During the most recent fiscal period, the Fund’s portfolio turnover rate was 6% of the average value of its portfolio.
Portfolio Turnover, Rate rr_PortfolioTurnoverRate 6.00%
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 2010 (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 2010, the Fund’s asset allocation should become similar to that of the Target Retirement Income Fund. As of March 31, , the Fund’s asset allocation among the underlying funds was as follows:

Vanguard Total Bond Market II Index Fund 37.1%
Vanguard Total Stock Market Index Fund 18.3%
Vanguard Short-Term Inflation-Protected Securities Index Fund 16.5%
Vanguard Total International Bond Index Fund 15.8%
Vanguard Total International Stock Index Fund 12.3%

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 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; inflation-protected public obligations issued by the U.S. Treasury; 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).

The Fund’s indirect stock holdings are a diversified mix of U.S. and foreign large-, mid-, and small-capitalization stocks.
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 fixed income securities such as bonds usually are less volatile than stocks and because the Fund currently invests a significant portion of its assets in fixed income securities, the Fund’s overall level of risk should be lower than that of funds investing entirely in stocks.

• With approximately 69% 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.

• With approximately 31% 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 any one 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.

• 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 following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund has varied from one calendar year to another over the periods shown. The table shows how the average annual total returns of the Fund compare with those of relevant market indexes and a composite bond/stock index, which have investment characteristics similar to those of the Fund. Keep in mind that the Fund’s past performance (before and after taxes) does not indicate how the Fund will perform in the future. Updated performance information is available on our website at vanguard.com/performance or by calling Vanguard toll-free at 800-662-7447.
Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns The following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund has varied from one calendar year to another over the periods shown. The table shows how the average annual total returns of the Fund compare with those of relevant market indexes and a composite bond/stock index, which have investment characteristics similar to those of the Fund.
Performance Availability Phone [Text] rr_PerformanceAvailabilityPhone 800-662-7447
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress vanguard.com/performance
Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture Keep in mind that the Fund’s past performance (before and after taxes) does not indicate how the Fund will perform in the future.
Bar Chart [Heading] rr_BarChartHeading Annual Total Returns — Vanguard Target Retirement 2010 Fund Investor Shares
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock During the periods shown in the bar chart, the highest return for a calendar quarter was 10.55% (quarter ended June 30, 2009), and the lowest return for a quarter was –10.63% (quarter ended December 31, 2008).
Performance Table Heading rr_PerformanceTableHeading Average Annual Total Returns for Periods Ended December 31, 2016
Performance Table Uses Highest Federal Rate rr_PerformanceTableUsesHighestFederalRate When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations.
Performance Table Not Relevant to Tax Deferred rr_PerformanceTableNotRelevantToTaxDeferred Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan.
Performance Table Explanation after Tax Higher rr_PerformanceTableExplanationAfterTaxHigher Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares may be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder.
Performance Table Narrative rr_PerformanceTableNarrativeTextBlock Actual after-tax returns depend on your tax situation and may differ from those shown in the preceding table. When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations. Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares may be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder.
Retail | Vanguard Target Retirement 2010 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 0.13%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.13%
1 Year rr_ExpenseExampleYear01 $ 13
3 Years rr_ExpenseExampleYear03 42
5 Years rr_ExpenseExampleYear05 73
10 Years rr_ExpenseExampleYear10 166
1 Year rr_ExpenseExampleNoRedemptionYear01 13
3 Years rr_ExpenseExampleNoRedemptionYear03 42
5 Years rr_ExpenseExampleNoRedemptionYear05 73
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 166
2007 rr_AnnualReturn2007 7.70% [2]
2008 rr_AnnualReturn2008 (20.67%) [2]
2009 rr_AnnualReturn2009 19.32% [2]
2010 rr_AnnualReturn2010 11.43% [2]
2011 rr_AnnualReturn2011 3.37% [2]
2012 rr_AnnualReturn2012 10.12% [2]
2013 rr_AnnualReturn2013 9.10% [2]
2014 rr_AnnualReturn2014 5.93% [2]
2015 rr_AnnualReturn2015 (0.20%) [2]
2016 rr_AnnualReturn2016 5.22% [2]
Year to Date Return, Label rr_YearToDateReturnLabel year-to-date return
Bar Chart, Year to Date Return, Date rr_BarChartYearToDateReturnDate Mar. 31, 2017
Bar Chart, Year to Date Return rr_BarChartYearToDateReturn 2.53%
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel highest return
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Jun. 30, 2009
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 10.55%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel lowest return
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Dec. 31, 2008
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (10.63%)
1 Year rr_AverageAnnualReturnYear01 5.22%
5 Years rr_AverageAnnualReturnYear05 5.97%
10 Years rr_AverageAnnualReturnYear10 4.61%
Retail | Vanguard Target Retirement 2010 Fund | Return After Taxes on Distributions | Investor Shares  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 4.18%
5 Years rr_AverageAnnualReturnYear05 4.94%
10 Years rr_AverageAnnualReturnYear10 3.71%
Retail | Vanguard Target Retirement 2010 Fund | Return After Taxes on Distributions and Sale of Fund Shares | Investor Shares  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 3.37%
5 Years rr_AverageAnnualReturnYear05 4.43%
10 Years rr_AverageAnnualReturnYear10 3.40%
Retail | Vanguard Target Retirement 2010 Fund | Bloomberg Barclays U.S. Aggregate Bond Index  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 2.65% [3]
5 Years rr_AverageAnnualReturnYear05 2.23% [3]
10 Years rr_AverageAnnualReturnYear10 4.34% [3]
Retail | Vanguard Target Retirement 2010 Fund | MSCI US Broad Market Index  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 12.67% [3]
5 Years rr_AverageAnnualReturnYear05 14.71% [3]
10 Years rr_AverageAnnualReturnYear10 7.26% [3]
Retail | Vanguard Target Retirement 2010 Fund | Target 2010 Composite Index  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 5.44% [3]
5 Years rr_AverageAnnualReturnYear05 6.16% [3]
10 Years rr_AverageAnnualReturnYear10 4.67% [3]
[1] /year
[2] The year-to-date return as of the most recent calendar quarter, which ended on March 31, 2017, was 2.53%.
[3] Comparative Indexes (reflect no deduction for fees, expenses, or taxes)
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Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Registrant Name dei_EntityRegistrantName VANGUARD CHESTER FUNDS
Prospectus Date rr_ProspectusDate Jul. 12, 2017
Retail | Vanguard Target Retirement 2015 Fund  
Risk/Return: rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading Vanguard Target Retirement 2015 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 may pay transaction costs, such as purchase fees, 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. During the most recent fiscal period, the Fund’s portfolio turnover rate was 8% of the average value of its portfolio.
Portfolio Turnover, Rate rr_PortfolioTurnoverRate 8.00%
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 2015 (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 2015, the Fund’s asset allocation should become similar to that of the Target Retirement Income Fund. As of March 31, 2017, the Fund’s asset allocation among the underlying funds was as follows:

Vanguard Total Bond Market II Index Fund 31.6%
Vanguard Total Stock Market Index Fund 26.8%
Vanguard Total International Stock Index Fund 17.9%
Vanguard Total International Bond Index Fund 13.4%
Vanguard Short-Term Inflation-Protected Securities Index Fund 10.3%

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 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; inflation-protected public obligations issued by the U.S. Treasury; 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).

The Fund’s indirect stock holdings are a diversified mix of U.S. and foreign large-, mid-, and small-capitalization stocks.
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 fixed income securities such as bonds usually are less volatile than stocks and because the Fund currently invests a significant portion of its assets in fixed income securities, the Fund’s overall level of risk should be lower than that of funds investing entirely in stocks.

• With approximately 55% 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.

• With approximately 45% 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 any one 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.

• 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 following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund has varied from one calendar year to another over the periods shown. The table shows how the average annual total returns of the Fund compare with those of relevant market indexes and a composite bond/stock index, which have investment characteristics similar to those of the Fund. Keep in mind that the Fund’s past performance (before and after taxes) does not indicate how the Fund will perform in the future. Updated performance information is available on our website at vanguard.com/performance or by calling Vanguard toll-free at 800-662-7447.
Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns The following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund has varied from one calendar year to another over the periods shown. The table shows how the average annual total returns of the Fund compare with those of relevant market indexes and a composite bond/stock index, which have investment characteristics similar to those of the Fund.
Performance Availability Phone [Text] rr_PerformanceAvailabilityPhone 800-662-7447
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress vanguard.com/performance
Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture Keep in mind that the Fund’s past performance (before and after taxes) does not indicate how the Fund will perform in the future.
Bar Chart [Heading] rr_BarChartHeading Annual Total Returns — Vanguard Target Retirement 2015 Fund Investor Shares
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock During the periods shown in the bar chart, the highest return for a calendar quarter was 12.21% (quarter ended June 30, 2009), and the lowest return for a quarter was –12.54% (quarter ended December 31, 2008).
Performance Table Heading rr_PerformanceTableHeading Average Annual Total Returns for Periods Ended December 31, 2016
Performance Table Uses Highest Federal Rate rr_PerformanceTableUsesHighestFederalRate When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations.
Performance Table Not Relevant to Tax Deferred rr_PerformanceTableNotRelevantToTaxDeferred Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan.
Performance Table Explanation after Tax Higher rr_PerformanceTableExplanationAfterTaxHigher Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares may be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder.
Performance Table Narrative rr_PerformanceTableNarrativeTextBlock Actual after-tax returns depend on your tax situation and may differ from those shown in the preceding table. When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations. Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares may be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder.
Retail | Vanguard Target Retirement 2015 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 0.14%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.14%
1 Year rr_ExpenseExampleYear01 $ 14
3 Years rr_ExpenseExampleYear03 45
5 Years rr_ExpenseExampleYear05 79
10 Years rr_ExpenseExampleYear10 179
1 Year rr_ExpenseExampleNoRedemptionYear01 14
3 Years rr_ExpenseExampleNoRedemptionYear03 45
5 Years rr_ExpenseExampleNoRedemptionYear05 79
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 179
2007 rr_AnnualReturn2007 7.55% [2]
2008 rr_AnnualReturn2008 (24.06%) [2]
2009 rr_AnnualReturn2009 21.30% [2]
2010 rr_AnnualReturn2010 12.47% [2]
2011 rr_AnnualReturn2011 1.71% [2]
2012 rr_AnnualReturn2012 11.37% [2]
2013 rr_AnnualReturn2013 13.00% [2]
2014 rr_AnnualReturn2014 6.56% [2]
2015 rr_AnnualReturn2015 (0.46%) [2]
2016 rr_AnnualReturn2016 6.16% [2]
Year to Date Return, Label rr_YearToDateReturnLabel year-to-date return
Bar Chart, Year to Date Return, Date rr_BarChartYearToDateReturnDate Mar. 31, 2017
Bar Chart, Year to Date Return rr_BarChartYearToDateReturn 3.38%
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel highest return
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Jun. 30, 2009
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 12.21%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel lowest return
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Dec. 31, 2008
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (12.54%)
1 Year rr_AverageAnnualReturnYear01 6.16%
5 Years rr_AverageAnnualReturnYear05 7.22%
10 Years rr_AverageAnnualReturnYear10 4.85%
Retail | Vanguard Target Retirement 2015 Fund | Return After Taxes on Distributions | Investor Shares  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 4.95%
5 Years rr_AverageAnnualReturnYear05 6.14%
10 Years rr_AverageAnnualReturnYear10 3.94%
Retail | Vanguard Target Retirement 2015 Fund | Return After Taxes on Distributions and Sale of Fund Shares | Investor Shares  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 4.10%
5 Years rr_AverageAnnualReturnYear05 5.45%
10 Years rr_AverageAnnualReturnYear10 3.62%
Retail | Vanguard Target Retirement 2015 Fund | Bloomberg Barclays U.S. Aggregate Bond Index  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 2.65% [3]
5 Years rr_AverageAnnualReturnYear05 2.23% [3]
10 Years rr_AverageAnnualReturnYear10 4.34% [3]
Retail | Vanguard Target Retirement 2015 Fund | MSCI US Broad Market Index  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 12.67% [3]
5 Years rr_AverageAnnualReturnYear05 14.71% [3]
10 Years rr_AverageAnnualReturnYear10 7.26% [3]
Retail | Vanguard Target Retirement 2015 Fund | Target 2015 Composite Index  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 6.40% [3]
5 Years rr_AverageAnnualReturnYear05 7.43% [3]
10 Years rr_AverageAnnualReturnYear10 4.90% [3]
[1] /year
[2] The year-to-date return as of the most recent calendar quarter, which ended on March 31, 2017, was 3.38%.
[3] Comparative Indexes (reflect no deduction for fees, expenses, or taxes)
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Retail | Vanguard Target Retirement 2020 Fund
Vanguard Target Retirement 2020 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)
Shareholder Fees
Retail
Vanguard Target Retirement 2020 Fund
Investor Shares
USD ($)
Sales Charge (Load) Imposed on Purchases none
Purchase Fee none
Sales Charge (Load) Imposed on Reinvested Dividends none
Redemption Fee none
Account Service Fee (for certain fund account balances below $10,000) $ 20 [1]
[1] /year
Annual Fund Operating Expenses

(Expenses that you pay each year as a percentage of the value of your investment)
Annual Fund Operating Expenses
Retail
Vanguard Target Retirement 2020 Fund
Investor Shares
Management Fees none
12b-1 Distribution Fee none
Other Expenses none
Acquired Fund Fees and Expenses 0.14%
Total Annual Fund Operating Expenses 0.14%
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 $10,000 in the Fund’s shares. This example assumes that the Fund provides a return of 5% each year and that total annual fund operating expenses of the Fund and its underlying funds remain as stated in the preceding table. You would incur these hypothetical expenses whether or not you redeem your investment at the end of the given period. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
Expense Example
1 Year
3 Years
5 Years
10 Years
Retail | Vanguard Target Retirement 2020 Fund | Investor Shares | USD ($) 14 45 79 179
Portfolio Turnover
The Fund may pay transaction costs, such as purchase fees, 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. During the most recent fiscal period, the Fund’s portfolio turnover rate was 8% of the average value of its portfolio.
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 2020 (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 2020, the Fund’s asset allocation should become similar to that of the Target Retirement Income Fund. As of March 31, 2017, the Fund’s asset allocation among the underlying funds was as follows:

Vanguard Total Stock Market Index Fund       33.5%
Vanguard Total Bond Market II Index Fund       28.7%
Vanguard Total International Stock Index Fund       22.8%
Vanguard Total International Bond Index Fund       12.1%
Vanguard Short-Term Inflation-Protected Securities Index Fund         2.9%

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; inflation-protected public obligations issued by the U.S. Treasury; 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 56% 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 any one 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 44% 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 following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund has varied from one calendar year to another over the periods shown. The table shows how the average annual total returns of the Fund compare with those of relevant market indexes and a composite stock/bond index, which have investment characteristics similar to those of the Fund. Keep in mind that the Fund’s past performance (before and after taxes) does not indicate how the Fund will perform in the future. Updated performance information is available on our website at vanguard.com/performance or by calling Vanguard toll-free at 800-662-7447.
Annual Total Returns — Vanguard Target Retirement 2020 Fund Investor Shares
Bar Chart
[1] The year-to-date return as of the most recent calendar quarter, which ended on March 31, 2017, was 4.10%.
During the periods shown in the bar chart, the highest return for a calendar quarter was 13.49% (quarter ended June 30, 2009), and the lowest return for a quarter was –14.51% (quarter ended December 31, 2008).
Average Annual Total Returns for Periods Ended December 31, 2016
Average Annual Total Returns - Retail - Vanguard Target Retirement 2020 Fund
1 Year
5 Years
10 Years
Investor Shares 6.95% 8.17% 4.99%
Investor Shares | Return After Taxes on Distributions 6.09% 7.37% 4.30%
Investor Shares | Return After Taxes on Distributions and Sale of Fund Shares 4.31% 6.24% 3.78%
MSCI US Broad Market Index [1] 12.67% 14.71% 7.26%
Bloomberg Barclays U.S. Aggregate Bond Index [1] 2.65% 2.23% 4.34%
Target 2020 Composite Index [1] 7.17% 8.42% 5.13%
[1] Comparative Indexes (reflect no deduction for fees, expenses, or taxes)
Actual after-tax returns depend on your tax situation and may differ from those shown in the preceding table. When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations. Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares may be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder.

XML 21 R29.htm IDEA: XBRL DOCUMENT v3.7.0.1
Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Registrant Name dei_EntityRegistrantName VANGUARD CHESTER FUNDS
Prospectus Date rr_ProspectusDate Jul. 12, 2017
Retail | Vanguard Target Retirement 2020 Fund  
Risk/Return: rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading Vanguard Target Retirement 2020 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 may pay transaction costs, such as purchase fees, 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. During the most recent fiscal period, the Fund’s portfolio turnover rate was 8% of the average value of its portfolio.
Portfolio Turnover, Rate rr_PortfolioTurnoverRate 8.00%
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 2020 (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 2020, the Fund’s asset allocation should become similar to that of the Target Retirement Income Fund. As of March 31, 2017, the Fund’s asset allocation among the underlying funds was as follows:

Vanguard Total Stock Market Index Fund       33.5%
Vanguard Total Bond Market II Index Fund       28.7%
Vanguard Total International Stock Index Fund       22.8%
Vanguard Total International Bond Index Fund       12.1%
Vanguard Short-Term Inflation-Protected Securities Index Fund         2.9%

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; inflation-protected public obligations issued by the U.S. Treasury; 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 56% 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 any one 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 44% 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 following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund has varied from one calendar year to another over the periods shown. The table shows how the average annual total returns of the Fund compare with those of relevant market indexes and a composite stock/bond index, which have investment characteristics similar to those of the Fund. Keep in mind that the Fund’s past performance (before and after taxes) does not indicate how the Fund will perform in the future. Updated performance information is available on our website at vanguard.com/performance or by calling Vanguard toll-free at 800-662-7447.
Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns The following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund has varied from one calendar year to another over the periods shown. The table shows how the average annual total returns of the Fund compare with those of relevant market indexes and a composite stock/bond index, which have investment characteristics similar to those of the Fund.
Performance Availability Phone [Text] rr_PerformanceAvailabilityPhone 800-662-7447
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress vanguard.com/performance
Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture Keep in mind that the Fund’s past performance (before and after taxes) does not indicate how the Fund will perform in the future.
Bar Chart [Heading] rr_BarChartHeading Annual Total Returns — Vanguard Target Retirement 2020 Fund Investor Shares
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock During the periods shown in the bar chart, the highest return for a calendar quarter was 13.49% (quarter ended June 30, 2009), and the lowest return for a quarter was –14.51% (quarter ended December 31, 2008).
Performance Table Heading rr_PerformanceTableHeading Average Annual Total Returns for Periods Ended December 31, 2016
Performance Table Uses Highest Federal Rate rr_PerformanceTableUsesHighestFederalRate When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations.
Performance Table Not Relevant to Tax Deferred rr_PerformanceTableNotRelevantToTaxDeferred Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan.
Performance Table Explanation after Tax Higher rr_PerformanceTableExplanationAfterTaxHigher Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares may be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder.
Performance Table Narrative rr_PerformanceTableNarrativeTextBlock Actual after-tax returns depend on your tax situation and may differ from those shown in the preceding table. When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations. Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares may be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder.
Retail | Vanguard Target Retirement 2020 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 0.14%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.14%
1 Year rr_ExpenseExampleYear01 $ 14
3 Years rr_ExpenseExampleYear03 45
5 Years rr_ExpenseExampleYear05 79
10 Years rr_ExpenseExampleYear10 179
1 Year rr_ExpenseExampleNoRedemptionYear01 14
3 Years rr_ExpenseExampleNoRedemptionYear03 45
5 Years rr_ExpenseExampleNoRedemptionYear05 79
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 179
2007 rr_AnnualReturn2007 7.52% [2]
2008 rr_AnnualReturn2008 (27.04%) [2]
2009 rr_AnnualReturn2009 23.10% [2]
2010 rr_AnnualReturn2010 13.12% [2]
2011 rr_AnnualReturn2011 0.60% [2]
2012 rr_AnnualReturn2012 12.35% [2]
2013 rr_AnnualReturn2013 15.85% [2]
2014 rr_AnnualReturn2014 7.11% [2]
2015 rr_AnnualReturn2015 (0.68%) [2]
2016 rr_AnnualReturn2016 6.95% [2]
Year to Date Return, Label rr_YearToDateReturnLabel year-to-date return
Bar Chart, Year to Date Return, Date rr_BarChartYearToDateReturnDate Mar. 31, 2017
Bar Chart, Year to Date Return rr_BarChartYearToDateReturn 4.10%
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel highest return
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Jun. 30, 2009
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 13.49%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel lowest return
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Dec. 31, 2008
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (14.51%)
1 Year rr_AverageAnnualReturnYear01 6.95%
5 Years rr_AverageAnnualReturnYear05 8.17%
10 Years rr_AverageAnnualReturnYear10 4.99%
Retail | Vanguard Target Retirement 2020 Fund | Return After Taxes on Distributions | Investor Shares  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 6.09%
5 Years rr_AverageAnnualReturnYear05 7.37%
10 Years rr_AverageAnnualReturnYear10 4.30%
Retail | Vanguard Target Retirement 2020 Fund | Return After Taxes on Distributions and Sale of Fund Shares | Investor Shares  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 4.31%
5 Years rr_AverageAnnualReturnYear05 6.24%
10 Years rr_AverageAnnualReturnYear10 3.78%
Retail | Vanguard Target Retirement 2020 Fund | MSCI US Broad Market Index  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 12.67% [3]
5 Years rr_AverageAnnualReturnYear05 14.71% [3]
10 Years rr_AverageAnnualReturnYear10 7.26% [3]
Retail | Vanguard Target Retirement 2020 Fund | Bloomberg Barclays U.S. Aggregate Bond Index  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 2.65% [3]
5 Years rr_AverageAnnualReturnYear05 2.23% [3]
10 Years rr_AverageAnnualReturnYear10 4.34% [3]
Retail | Vanguard Target Retirement 2020 Fund | Target 2020 Composite Index  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 7.17% [3]
5 Years rr_AverageAnnualReturnYear05 8.42% [3]
10 Years rr_AverageAnnualReturnYear10 5.13% [3]
[1] /year
[2] The year-to-date return as of the most recent calendar quarter, which ended on March 31, 2017, was 4.10%.
[3] Comparative Indexes (reflect no deduction for fees, expenses, or taxes)
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Retail | Vanguard Target Retirement 2025 Fund
Vanguard Target Retirement 2025 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)
Shareholder Fees
Retail
Vanguard Target Retirement 2025 Fund
Investor Shares
USD ($)
Sales Charge (Load) Imposed on Purchases none
Purchase Fee none
Sales Charge (Load) Imposed on Reinvested Dividends none
Redemption Fee none
Account Service Fee (for certain fund account balances below $10,000) $ 20 [1]
[1] /year
Annual Fund Operating Expenses

(Expenses that you pay each year as a percentage of the value of your investment)
Annual Fund Operating Expenses
Retail
Vanguard Target Retirement 2025 Fund
Investor Shares
Management Fees none
12b-1 Distribution Fee none
Other Expenses none
Acquired Fund Fees and Expenses 0.14%
Total Annual Fund Operating Expenses 0.14%
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 $10,000 in the Fund’s shares. This example assumes that the Fund provides a return of 5% each year and that total annual fund operating expenses of the Fund and its underlying funds remain as stated in the preceding table. You would incur these hypothetical expenses whether or not you redeem your investment at the end of the given period. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
Expense Example
1 Year
3 Years
5 Years
10 Years
Retail | Vanguard Target Retirement 2025 Fund | Investor Shares | USD ($) 14 45 79 179
Portfolio Turnover
The Fund may pay transaction costs, such as purchase fees, 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. During the most recent fiscal period, the Fund’s portfolio turnover rate was 11% of the average value of its portfolio.
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 2025 (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 2025, the Fund’s asset allocation should become similar to that of the Target Retirement Income Fund. As of March 31, 2017, the Fund’s asset allocation among the underlying funds was as follows:

Vanguard Total Stock Market Index Fund 38.6%
Vanguard Total International Stock Index Fund 26.0%
Vanguard Total Bond Market II Index Fund 24.9%
Vanguard Total International Bond Index Fund 10.5%

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 65% 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 any one 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 35% 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 following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund has varied from one calendar year to another over the periods shown. The table shows how the average annual total returns of the Fund compare with those of relevant market indexes and a composite stock/bond index, which have investment characteristics similar to those of the Fund. Keep in mind that the Fund’s past performance (before and after taxes) does not indicate how the Fund will perform in the future. Updated performance information is available on our website at vanguard.com/performance or by calling Vanguard toll-free at 800-662-7447.
Annual Total Returns — Vanguard Target Retirement 2025 Fund Investor Shares
Bar Chart
[1] The year-to-date return as of the most recent calendar quarter, which ended on March 31, 2017, was 4.59%.
During the periods shown in the bar chart, the highest return for a calendar quarter was 14.84% (quarter ended June 30, 2009), and the lowest return for a quarter was –16.48% (quarter ended December 31, 2008).
Average Annual Total Returns for Periods Ended December 31, 2016
Average Annual Total Returns - Retail - Vanguard Target Retirement 2025 Fund
1 Year
5 Years
10 Years
Investor Shares 7.48% 8.86% 5.00%
Investor Shares | Return After Taxes on Distributions 6.66% 8.03% 4.30%
Investor Shares | Return After Taxes on Distributions and Sale of Fund Shares 4.63% 6.82% 3.80%
MSCI US Broad Market Index [1] 12.67% 14.71% 7.26%
Bloomberg Barclays U.S. Aggregate Bond Index [1] 2.65% 2.23% 4.34%
Target 2025 Composite Index [1] 7.67% 9.10% 5.15%
[1] Comparative Indexes (reflect no deduction for fees, expenses, or taxes)
Actual after-tax returns depend on your tax situation and may differ from those shown in the preceding table. When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations. Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares may be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder.

XML 24 R36.htm IDEA: XBRL DOCUMENT v3.7.0.1
Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Registrant Name dei_EntityRegistrantName VANGUARD CHESTER FUNDS
Prospectus Date rr_ProspectusDate Jul. 12, 2017
Retail | Vanguard Target Retirement 2025 Fund  
Risk/Return: rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading Vanguard Target Retirement 2025 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 may pay transaction costs, such as purchase fees, 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. During the most recent fiscal period, the Fund’s portfolio turnover rate was 11% of the average value of its portfolio.
Portfolio Turnover, Rate rr_PortfolioTurnoverRate 11.00%
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 2025 (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 2025, the Fund’s asset allocation should become similar to that of the Target Retirement Income Fund. As of March 31, 2017, the Fund’s asset allocation among the underlying funds was as follows:

Vanguard Total Stock Market Index Fund 38.6%
Vanguard Total International Stock Index Fund 26.0%
Vanguard Total Bond Market II Index Fund 24.9%
Vanguard Total International Bond Index Fund 10.5%

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 65% 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 any one 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 35% 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 following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund has varied from one calendar year to another over the periods shown. The table shows how the average annual total returns of the Fund compare with those of relevant market indexes and a composite stock/bond index, which have investment characteristics similar to those of the Fund. Keep in mind that the Fund’s past performance (before and after taxes) does not indicate how the Fund will perform in the future. Updated performance information is available on our website at vanguard.com/performance or by calling Vanguard toll-free at 800-662-7447.
Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns The following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund has varied from one calendar year to another over the periods shown. The table shows how the average annual total returns of the Fund compare with those of relevant market indexes and a composite stock/bond index, which have investment characteristics similar to those of the Fund.
Performance Availability Phone [Text] rr_PerformanceAvailabilityPhone 800-662-7447
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress vanguard.com/performance
Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture Keep in mind that the Fund’s past performance (before and after taxes) does not indicate how the Fund will perform in the future.
Bar Chart [Heading] rr_BarChartHeading Annual Total Returns — Vanguard Target Retirement 2025 Fund Investor Shares
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock During the periods shown in the bar chart, the highest return for a calendar quarter was 14.84% (quarter ended June 30, 2009), and the lowest return for a quarter was –16.48% (quarter ended December 31, 2008).
Performance Table Heading rr_PerformanceTableHeading Average Annual Total Returns for Periods Ended December 31, 2016
Performance Table Uses Highest Federal Rate rr_PerformanceTableUsesHighestFederalRate When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations.
Performance Table Not Relevant to Tax Deferred rr_PerformanceTableNotRelevantToTaxDeferred Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan.
Performance Table Explanation after Tax Higher rr_PerformanceTableExplanationAfterTaxHigher Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares may be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder.
Performance Table Narrative rr_PerformanceTableNarrativeTextBlock Actual after-tax returns depend on your tax situation and may differ from those shown in the preceding table. When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations. Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares may be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder.
Retail | Vanguard Target Retirement 2025 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 0.14%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.14%
1 Year rr_ExpenseExampleYear01 $ 14
3 Years rr_ExpenseExampleYear03 45
5 Years rr_ExpenseExampleYear05 79
10 Years rr_ExpenseExampleYear10 179
1 Year rr_ExpenseExampleNoRedemptionYear01 14
3 Years rr_ExpenseExampleNoRedemptionYear03 45
5 Years rr_ExpenseExampleNoRedemptionYear05 79
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 179
2007 rr_AnnualReturn2007 7.59% [2]
2008 rr_AnnualReturn2008 (30.05%) [2]
2009 rr_AnnualReturn2009 24.81% [2]
2010 rr_AnnualReturn2010 13.84% [2]
2011 rr_AnnualReturn2011 (0.37%) [2]
2012 rr_AnnualReturn2012 13.29% [2]
2013 rr_AnnualReturn2013 18.14% [2]
2014 rr_AnnualReturn2014 7.17% [2]
2015 rr_AnnualReturn2015 (0.85%) [2]
2016 rr_AnnualReturn2016 7.48% [2]
Year to Date Return, Label rr_YearToDateReturnLabel year-to-date return
Bar Chart, Year to Date Return, Date rr_BarChartYearToDateReturnDate Mar. 31, 2017
Bar Chart, Year to Date Return rr_BarChartYearToDateReturn 4.59%
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel highest return
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Jun. 30, 2009
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 14.84%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel lowest return
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Dec. 31, 2008
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (16.48%)
1 Year rr_AverageAnnualReturnYear01 7.48%
5 Years rr_AverageAnnualReturnYear05 8.86%
10 Years rr_AverageAnnualReturnYear10 5.00%
Retail | Vanguard Target Retirement 2025 Fund | Return After Taxes on Distributions | Investor Shares  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 6.66%
5 Years rr_AverageAnnualReturnYear05 8.03%
10 Years rr_AverageAnnualReturnYear10 4.30%
Retail | Vanguard Target Retirement 2025 Fund | Return After Taxes on Distributions and Sale of Fund Shares | Investor Shares  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 4.63%
5 Years rr_AverageAnnualReturnYear05 6.82%
10 Years rr_AverageAnnualReturnYear10 3.80%
Retail | Vanguard Target Retirement 2025 Fund | MSCI US Broad Market Index  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 12.67% [3]
5 Years rr_AverageAnnualReturnYear05 14.71% [3]
10 Years rr_AverageAnnualReturnYear10 7.26% [3]
Retail | Vanguard Target Retirement 2025 Fund | Bloomberg Barclays U.S. Aggregate Bond Index  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 2.65% [3]
5 Years rr_AverageAnnualReturnYear05 2.23% [3]
10 Years rr_AverageAnnualReturnYear10 4.34% [3]
Retail | Vanguard Target Retirement 2025 Fund | Target 2025 Composite Index  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 7.67% [3]
5 Years rr_AverageAnnualReturnYear05 9.10% [3]
10 Years rr_AverageAnnualReturnYear10 5.15% [3]
[1] /year
[2] The year-to-date return as of the most recent calendar quarter, which ended on March 31, 2017, was 4.59%.
[3] Comparative Indexes (reflect no deduction for fees, expenses, or taxes)
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Retail | Vanguard Target Retirement 2030 Fund
Vanguard Target Retirement 2030 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)
Shareholder Fees
Retail
Vanguard Target Retirement 2030 Fund
Investor Shares
USD ($)
Sales Charge (Load) Imposed on Purchases none
Purchase Fee none
Sales Charge (Load) Imposed on Reinvested Dividends none
Redemption Fee none
Account Service Fee (for certain fund account balances below $10,000) $ 20 [1]
[1] /year
Annual Fund Operating Expenses

(Expenses that you pay each year as a percentage of the value of your investment)
Annual Fund Operating Expenses
Retail
Vanguard Target Retirement 2030 Fund
Investor Shares
Management Fees none
12b-1 Distribution Fee none
Other Expenses none
Acquired Fund Fees and Expenses 0.15%
Total Annual Fund Operating Expenses 0.15%
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 $10,000 in the Fund’s shares. This example assumes that the Fund provides a return of 5% each year and that total annual fund operating expenses of the Fund and its underlying funds remain as stated in the preceding table. You would incur these hypothetical expenses whether or not you redeem your investment at the end of the given period. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
Expense Example
1 Year
3 Years
5 Years
10 Years
Retail | Vanguard Target Retirement 2030 Fund | Investor Shares | USD ($) 15 48 85 192
Portfolio Turnover
The Fund may pay transaction costs, such as purchase fees, 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. During the most recent fiscal period, the Fund’s portfolio turnover rate was 9% of the average value of its portfolio.
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 2030 (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 2030, the Fund’s asset allocation should become similar to that of the Target Retirement Income Fund. As of March 31, 2017, the Fund’s asset allocation among the underlying funds was as follows:

Vanguard Total Stock Market Index Fund 43.1%
Vanguard Total International Stock Index Fund 28.9%
Vanguard Total Bond Market II Index Fund 19.7%
Vanguard Total International Bond Index Fund 8.3%

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 72% 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 any one 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 28% 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 following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund has varied from one calendar year to another over the periods shown. The table shows how the average annual total returns of the Fund compare with those of relevant market indexes and a composite stock/bond index, which have investment characteristics similar to those of the Fund. Keep in mind that the Fund’s past performance (before and after taxes) does not indicate how the Fund will perform in the future. Updated performance information is available on our website at vanguard.com/performance or by calling Vanguard toll-free at 800-662-7447.
Annual Total Returns — Vanguard Target Retirement 2030 Fund Investor Shares
Bar Chart
[1] The year-to-date return as of the most recent calendar quarter, which ended on March 31, 2017, was 5.10%.
During the periods shown in the bar chart, the highest return for a calendar quarter was 16.23% (quarter ended June 30, 2009), and the lowest return for a quarter was –18.45% (quarter ended December 31, 2008).
Average Annual Total Returns for Periods Ended December 31, 2016
Average Annual Total Returns - Retail - Vanguard Target Retirement 2030 Fund
1 Year
5 Years
10 Years
Investor Shares 7.85% 9.50% 4.98%
Investor Shares | Return After Taxes on Distributions 7.10% 8.79% 4.40%
Investor Shares | Return After Taxes on Distributions and Sale of Fund Shares 4.79% 7.38% 3.84%
MSCI US Broad Market Index [1] 12.67% 14.71% 7.26%
Bloomberg Barclays U.S. Aggregate Bond Index [1] 2.65% 2.23% 4.34%
Target 2030 Composite Index [1] 8.11% 9.77% 5.14%
[1] Comparative Indexes (reflect no deduction for fees, expenses, or taxes)
Actual after-tax returns depend on your tax situation and may differ from those shown in the preceding table. When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations. Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares may be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder.

XML 27 R43.htm IDEA: XBRL DOCUMENT v3.7.0.1
Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Registrant Name dei_EntityRegistrantName VANGUARD CHESTER FUNDS
Prospectus Date rr_ProspectusDate Jul. 12, 2017
Retail | Vanguard Target Retirement 2030 Fund  
Risk/Return: rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading Vanguard Target Retirement 2030 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 may pay transaction costs, such as purchase fees, 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. During the most recent fiscal period, the Fund’s portfolio turnover rate was 9% of the average value of its portfolio.
Portfolio Turnover, Rate rr_PortfolioTurnoverRate 9.00%
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 2030 (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 2030, the Fund’s asset allocation should become similar to that of the Target Retirement Income Fund. As of March 31, 2017, the Fund’s asset allocation among the underlying funds was as follows:

Vanguard Total Stock Market Index Fund 43.1%
Vanguard Total International Stock Index Fund 28.9%
Vanguard Total Bond Market II Index Fund 19.7%
Vanguard Total International Bond Index Fund 8.3%

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 72% 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 any one 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 28% 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 following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund has varied from one calendar year to another over the periods shown. The table shows how the average annual total returns of the Fund compare with those of relevant market indexes and a composite stock/bond index, which have investment characteristics similar to those of the Fund. Keep in mind that the Fund’s past performance (before and after taxes) does not indicate how the Fund will perform in the future. Updated performance information is available on our website at vanguard.com/performance or by calling Vanguard toll-free at 800-662-7447.
Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns The following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund has varied from one calendar year to another over the periods shown. The table shows how the average annual total returns of the Fund compare with those of relevant market indexes and a composite stock/bond index, which have investment characteristics similar to those of the Fund.
Performance Availability Phone [Text] rr_PerformanceAvailabilityPhone 800-662-7447
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress vanguard.com/performance
Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture Keep in mind that the Fund’s past performance (before and after taxes) does not indicate how the Fund will perform in the future.
Bar Chart [Heading] rr_BarChartHeading Annual Total Returns — Vanguard Target Retirement 2030 Fund Investor Shares
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock During the periods shown in the bar chart, the highest return for a calendar quarter was 16.23% (quarter ended June 30, 2009), and the lowest return for a quarter was –18.45% (quarter ended December 31, 2008).
Performance Table Heading rr_PerformanceTableHeading Average Annual Total Returns for Periods Ended December 31, 2016
Performance Table Uses Highest Federal Rate rr_PerformanceTableUsesHighestFederalRate When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations.
Performance Table Not Relevant to Tax Deferred rr_PerformanceTableNotRelevantToTaxDeferred Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan.
Performance Table Explanation after Tax Higher rr_PerformanceTableExplanationAfterTaxHigher Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares may be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder.
Performance Table Narrative rr_PerformanceTableNarrativeTextBlock Actual after-tax returns depend on your tax situation and may differ from those shown in the preceding table. When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations. Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares may be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder.
Retail | Vanguard Target Retirement 2030 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 0.15%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.15%
1 Year rr_ExpenseExampleYear01 $ 15
3 Years rr_ExpenseExampleYear03 48
5 Years rr_ExpenseExampleYear05 85
10 Years rr_ExpenseExampleYear10 192
1 Year rr_ExpenseExampleNoRedemptionYear01 15
3 Years rr_ExpenseExampleNoRedemptionYear03 48
5 Years rr_ExpenseExampleNoRedemptionYear05 85
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 192
2007 rr_AnnualReturn2007 7.49% [2]
2008 rr_AnnualReturn2008 (32.91%) [2]
2009 rr_AnnualReturn2009 26.72% [2]
2010 rr_AnnualReturn2010 14.43% [2]
2011 rr_AnnualReturn2011 (1.27%) [2]
2012 rr_AnnualReturn2012 14.24% [2]
2013 rr_AnnualReturn2013 20.49% [2]
2014 rr_AnnualReturn2014 7.17% [2]
2015 rr_AnnualReturn2015 (1.03%) [2]
2016 rr_AnnualReturn2016 7.85% [2]
Year to Date Return, Label rr_YearToDateReturnLabel year-to-date return
Bar Chart, Year to Date Return, Date rr_BarChartYearToDateReturnDate Mar. 31, 2017
Bar Chart, Year to Date Return rr_BarChartYearToDateReturn 5.10%
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel highest return
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Jun. 30, 2009
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 16.23%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel lowest return
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Dec. 31, 2008
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (18.45%)
1 Year rr_AverageAnnualReturnYear01 7.85%
5 Years rr_AverageAnnualReturnYear05 9.50%
10 Years rr_AverageAnnualReturnYear10 4.98%
Retail | Vanguard Target Retirement 2030 Fund | Return After Taxes on Distributions | Investor Shares  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 7.10%
5 Years rr_AverageAnnualReturnYear05 8.79%
10 Years rr_AverageAnnualReturnYear10 4.40%
Retail | Vanguard Target Retirement 2030 Fund | Return After Taxes on Distributions and Sale of Fund Shares | Investor Shares  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 4.79%
5 Years rr_AverageAnnualReturnYear05 7.38%
10 Years rr_AverageAnnualReturnYear10 3.84%
Retail | Vanguard Target Retirement 2030 Fund | MSCI US Broad Market Index  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 12.67% [3]
5 Years rr_AverageAnnualReturnYear05 14.71% [3]
10 Years rr_AverageAnnualReturnYear10 7.26% [3]
Retail | Vanguard Target Retirement 2030 Fund | Bloomberg Barclays U.S. Aggregate Bond Index  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 2.65% [3]
5 Years rr_AverageAnnualReturnYear05 2.23% [3]
10 Years rr_AverageAnnualReturnYear10 4.34% [3]
Retail | Vanguard Target Retirement 2030 Fund | Target 2030 Composite Index  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 8.11% [3]
5 Years rr_AverageAnnualReturnYear05 9.77% [3]
10 Years rr_AverageAnnualReturnYear10 5.14% [3]
[1] /year
[2] The year-to-date return as of the most recent calendar quarter, which ended on March 31, 2017, was 5.10%.
[3] Comparative Indexes (reflect no deduction for fees, expenses, or taxes)
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Retail | Vanguard Target Retirement 2035 Fund
Vanguard Target Retirement 2035 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)
Shareholder Fees
Retail
Vanguard Target Retirement 2035 Fund
Investor Shares
USD ($)
Sales Charge (Load) Imposed on Purchases none
Purchase Fee none
Sales Charge (Load) Imposed on Reinvested Dividends none
Redemption Fee none
Account Service Fee (for certain fund account balances below $10,000) $ 20 [1]
[1] /year
Annual Fund Operating Expenses

(Expenses that you pay each year as a percentage of the value of your investment)
Annual Fund Operating Expenses
Retail
Vanguard Target Retirement 2035 Fund
Investor Shares
Management Fees none
12b-1 Distribution Fee none
Other Expenses none
Acquired Fund Fees and Expenses 0.15%
Total Annual Fund Operating Expenses 0.15%
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 $10,000 in the Fund’s shares. This example assumes that the Fund provides a return of 5% each year and that total annual fund operating expenses of the Fund and its underlying funds remain as stated in the preceding table. You would incur these hypothetical expenses whether or not you redeem your investment at the end of the given period. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
Expense Example
1 Year
3 Years
5 Years
10 Years
Retail | Vanguard Target Retirement 2035 Fund | Investor Shares | USD ($) 15 48 85 192
Portfolio Turnover
The Fund may pay transaction costs, such as purchase fees, 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. During the most recent fiscal period, the Fund’s portfolio turnover rate was 10% of the average value of its portfolio.
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 2035 (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 2035, the Fund’s asset allocation should become similar to that of the Target Retirement Income Fund. As of March 31, 2017, the Fund’s asset allocation among the underlying funds was as follows:

Vanguard Total Stock Market Index Fund 47.6%
Vanguard Total International Stock Index Fund 32.0%
Vanguard Total Bond Market II Index Fund 14.4%
Vanguard Total International Bond Index Fund 6.0%

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 80% 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 any one 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 20% 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 following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund has varied from one calendar year to another over the periods shown. The table shows how the average annual total returns of the Fund compare with those of relevant market indexes and a composite stock/bond index, which have investment characteristics similar to those of the Fund. Keep in mind that the Fund’s past performance (before and after taxes) does not indicate how the Fund will perform in the future. Updated performance information is available on our website at vanguard.com/performance or by calling Vanguard toll-free at 800-662-7447.
Annual Total Returns — Vanguard Target Retirement 2035 Fund Investor Shares
Bar Chart
[1] The year-to-date return as of the most recent calendar quarter, which ended on March 31, 2017, was 5.52%.
During the periods shown in the bar chart, the highest return for a calendar quarter was 17.27% (quarter ended June 30, 2009), and the lowest return for a quarter was –19.72% (quarter ended December 31, 2008).
Average Annual Total Returns for Periods Ended December 31, 2016
Average Annual Total Returns - Retail - Vanguard Target Retirement 2035 Fund
1 Year
5 Years
10 Years
Investor Shares 8.26% 10.15% 5.09%
Investor Shares | Return After Taxes on Distributions 7.47% 9.40% 4.49%
Investor Shares | Return After Taxes on Distributions and Sale of Fund Shares 5.15% 7.94% 3.95%
MSCI US Broad Market Index [1] 12.67% 14.71% 7.26%
Bloomberg Barclays U.S. Aggregate Bond Index [1] 2.65% 2.23% 4.34%
Target 2035 Composite Index [1] 8.55% 10.42% 5.24%
[1] Comparative Indexes (reflect no deduction for fees, expenses, or taxes)
Actual after-tax returns depend on your tax situation and may differ from those shown in the preceding table. When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations. Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares may be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder.
XML 30 R50.htm IDEA: XBRL DOCUMENT v3.7.0.1
Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Registrant Name dei_EntityRegistrantName VANGUARD CHESTER FUNDS
Prospectus Date rr_ProspectusDate Jul. 12, 2017
Retail | Vanguard Target Retirement 2035 Fund  
Risk/Return: rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading Vanguard Target Retirement 2035 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 may pay transaction costs, such as purchase fees, 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. During the most recent fiscal period, the Fund’s portfolio turnover rate was 10% of the average value of its portfolio.
Portfolio Turnover, Rate rr_PortfolioTurnoverRate 10.00%
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 2035 (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 2035, the Fund’s asset allocation should become similar to that of the Target Retirement Income Fund. As of March 31, 2017, the Fund’s asset allocation among the underlying funds was as follows:

Vanguard Total Stock Market Index Fund 47.6%
Vanguard Total International Stock Index Fund 32.0%
Vanguard Total Bond Market II Index Fund 14.4%
Vanguard Total International Bond Index Fund 6.0%

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 80% 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 any one 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 20% 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 following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund has varied from one calendar year to another over the periods shown. The table shows how the average annual total returns of the Fund compare with those of relevant market indexes and a composite stock/bond index, which have investment characteristics similar to those of the Fund. Keep in mind that the Fund’s past performance (before and after taxes) does not indicate how the Fund will perform in the future. Updated performance information is available on our website at vanguard.com/performance or by calling Vanguard toll-free at 800-662-7447.
Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns The following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund has varied from one calendar year to another over the periods shown. The table shows how the average annual total returns of the Fund compare with those of relevant market indexes and a composite stock/bond index, which have investment characteristics similar to those of the Fund.
Performance Availability Phone [Text] rr_PerformanceAvailabilityPhone 800-662-7447
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress vanguard.com/performance
Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture Keep in mind that the Fund’s past performance (before and after taxes) does not indicate how the Fund will perform in the future.
Bar Chart [Heading] rr_BarChartHeading Annual Total Returns — Vanguard Target Retirement 2035 Fund Investor Shares
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock During the periods shown in the bar chart, the highest return for a calendar quarter was 17.27% (quarter ended June 30, 2009), and the lowest return for a quarter was –19.72% (quarter ended December 31, 2008).
Performance Table Heading rr_PerformanceTableHeading Average Annual Total Returns for Periods Ended December 31, 2016
Performance Table Uses Highest Federal Rate rr_PerformanceTableUsesHighestFederalRate When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations.
Performance Table Not Relevant to Tax Deferred rr_PerformanceTableNotRelevantToTaxDeferred Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan.
Performance Table Explanation after Tax Higher rr_PerformanceTableExplanationAfterTaxHigher Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares may be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder.
Performance Table Narrative rr_PerformanceTableNarrativeTextBlock Actual after-tax returns depend on your tax situation and may differ from those shown in the preceding table. When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations. Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares may be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder.
Retail | Vanguard Target Retirement 2035 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 0.15%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.15%
1 Year rr_ExpenseExampleYear01 $ 15
3 Years rr_ExpenseExampleYear03 48
5 Years rr_ExpenseExampleYear05 85
10 Years rr_ExpenseExampleYear10 192
1 Year rr_ExpenseExampleNoRedemptionYear01 15
3 Years rr_ExpenseExampleNoRedemptionYear03 48
5 Years rr_ExpenseExampleNoRedemptionYear05 85
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 192
2007 rr_AnnualReturn2007 7.49% [2]
2008 rr_AnnualReturn2008 (34.66%) [2]
2009 rr_AnnualReturn2009 28.17% [2]
2010 rr_AnnualReturn2010 15.14% [2]
2011 rr_AnnualReturn2011 (2.24%) [2]
2012 rr_AnnualReturn2012 15.16% [2]
2013 rr_AnnualReturn2013 22.82% [2]
2014 rr_AnnualReturn2014 7.24% [2]
2015 rr_AnnualReturn2015 (1.26%) [2]
2016 rr_AnnualReturn2016 8.26% [2]
Year to Date Return, Label rr_YearToDateReturnLabel year-to-date return
Bar Chart, Year to Date Return, Date rr_BarChartYearToDateReturnDate Mar. 31, 2017
Bar Chart, Year to Date Return rr_BarChartYearToDateReturn 5.52%
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel highest return
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Jun. 30, 2009
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 17.27%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel lowest return
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Dec. 31, 2008
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (19.72%)
1 Year rr_AverageAnnualReturnYear01 8.26%
5 Years rr_AverageAnnualReturnYear05 10.15%
10 Years rr_AverageAnnualReturnYear10 5.09%
Retail | Vanguard Target Retirement 2035 Fund | Return After Taxes on Distributions | Investor Shares  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 7.47%
5 Years rr_AverageAnnualReturnYear05 9.40%
10 Years rr_AverageAnnualReturnYear10 4.49%
Retail | Vanguard Target Retirement 2035 Fund | Return After Taxes on Distributions and Sale of Fund Shares | Investor Shares  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 5.15%
5 Years rr_AverageAnnualReturnYear05 7.94%
10 Years rr_AverageAnnualReturnYear10 3.95%
Retail | Vanguard Target Retirement 2035 Fund | MSCI US Broad Market Index  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 12.67% [3]
5 Years rr_AverageAnnualReturnYear05 14.71% [3]
10 Years rr_AverageAnnualReturnYear10 7.26% [3]
Retail | Vanguard Target Retirement 2035 Fund | Bloomberg Barclays U.S. Aggregate Bond Index  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 2.65% [3]
5 Years rr_AverageAnnualReturnYear05 2.23% [3]
10 Years rr_AverageAnnualReturnYear10 4.34% [3]
Retail | Vanguard Target Retirement 2035 Fund | Target 2035 Composite Index  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 8.55% [3]
5 Years rr_AverageAnnualReturnYear05 10.42% [3]
10 Years rr_AverageAnnualReturnYear10 5.24% [3]
[1] /year
[2] The year-to-date return as of the most recent calendar quarter, which ended on March 31, 2017, was 5.52%.
[3] Comparative Indexes (reflect no deduction for fees, expenses, or taxes)
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Retail | Vanguard Target Retirement 2040 Fund
Vanguard Target Retirement 2040 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)
Shareholder Fees
Retail
Vanguard Target Retirement 2040 Fund
Investor Shares
USD ($)
Sales Charge (Load) Imposed on Purchases none
Purchase Fee none
Sales Charge (Load) Imposed on Reinvested Dividends none
Redemption Fee none
Account Service Fee (for certain fund account balances below $10,000) $ 20 [1]
[1] /year
Annual Fund Operating Expenses

(Expenses that you pay each year as a percentage of the value of your investment)
Annual Fund Operating Expenses
Retail
Vanguard Target Retirement 2040 Fund
Investor Shares
Management Fees none
12b-1 Distribution Fee none
Other Expenses none
Acquired Fund Fees and Expenses 0.16%
Total Annual Fund Operating Expenses 0.16%
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 $10,000 in the Fund’s shares. This example assumes that the Fund provides a return of 5% each year and that total annual fund operating expenses of the Fund and its underlying funds remain as stated in the preceding table. You would incur these hypothetical expenses whether or not you redeem your investment at the end of the given period. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
Expense Example
1 Year
3 Years
5 Years
10 Years
Retail | Vanguard Target Retirement 2040 Fund | Investor Shares | USD ($) 16 52 90 205
Portfolio Turnover
The Fund may pay transaction costs, such as purchase fees, 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. During the most recent fiscal period, the Fund’s portfolio turnover rate was 8% of the average value of its portfolio.
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 2040 (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 2040, the Fund’s asset allocation should become similar to that of the Target Retirement Income Fund. As of March 31, 2017, the Fund’s asset allocation among the underlying funds was as follows:

Vanguard Total Stock Market Index Fund            51.9%
Vanguard Total International Stock Index Fund            35.0%
Vanguard Total Bond Market II Index Fund             9.2%
Vanguard Total International Bond Index Fund             3.9%

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 87% 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 any one 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 13% 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 following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund has varied from one calendar year to another over the periods shown. The table shows how the average annual total returns of the Fund compare with those of relevant market indexes and a composite stock/bond index, which have investment characteristics similar to those of the Fund. Keep in mind that the Fund’s past performance (before and after taxes) does not indicate how the Fund will perform in the future. Updated performance information is available on our website at vanguard.com/performance or by calling Vanguard toll-free at 800-662-7447.
Annual Total Returns — Vanguard Target Retirement 2040 Fund Investor Shares
Bar Chart
[1] The year-to-date return as of the most recent calendar quarter, which ended on March 31, 2017, was 6.02%.
During the periods shown in the bar chart, the highest return for a calendar quarter was 17.13% (quarter ended June 30, 2009), and the lowest return for a quarter was –19.62% (quarter ended December 31, 2008).
Average Annual Total Returns for Periods Ended December 31, 2016
Average Annual Total Returns - Retail - Vanguard Target Retirement 2040 Fund
1 Year
5 Years
10 Years
Investor Shares 8.73% 10.51% 5.26%
Investor Shares | Return After Taxes on Distributions 8.04% 9.89% 4.75%
Investor Shares | Return After Taxes on Distributions and Sale of Fund Shares 5.36% 8.26% 4.11%
MSCI US Broad Market Index [1] 12.67% 14.71% 7.26%
Bloomberg Barclays U.S. Aggregate Bond Index [1] 2.65% 2.23% 4.34%
Target 2040 Composite Index [1] 8.98% 10.80% 5.41%
[1] Comparative Indexes (reflect no deduction for fees, expenses, or taxes)
Actual after-tax returns depend on your tax situation and may differ from those shown in the preceding table. When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations. Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares may be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder.
XML 33 R57.htm IDEA: XBRL DOCUMENT v3.7.0.1
Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Registrant Name dei_EntityRegistrantName VANGUARD CHESTER FUNDS
Prospectus Date rr_ProspectusDate Jul. 12, 2017
Retail | Vanguard Target Retirement 2040 Fund  
Risk/Return: rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading Vanguard Target Retirement 2040 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 may pay transaction costs, such as purchase fees, 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. During the most recent fiscal period, the Fund’s portfolio turnover rate was 8% of the average value of its portfolio.
Portfolio Turnover, Rate rr_PortfolioTurnoverRate 8.00%
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 2040 (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 2040, the Fund’s asset allocation should become similar to that of the Target Retirement Income Fund. As of March 31, 2017, the Fund’s asset allocation among the underlying funds was as follows:

Vanguard Total Stock Market Index Fund            51.9%
Vanguard Total International Stock Index Fund            35.0%
Vanguard Total Bond Market II Index Fund             9.2%
Vanguard Total International Bond Index Fund             3.9%

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 87% 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 any one 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 13% 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 following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund has varied from one calendar year to another over the periods shown. The table shows how the average annual total returns of the Fund compare with those of relevant market indexes and a composite stock/bond index, which have investment characteristics similar to those of the Fund. Keep in mind that the Fund’s past performance (before and after taxes) does not indicate how the Fund will perform in the future. Updated performance information is available on our website at vanguard.com/performance or by calling Vanguard toll-free at 800-662-7447.
Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns The following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund has varied from one calendar year to another over the periods shown. The table shows how the average annual total returns of the Fund compare with those of relevant market indexes and a composite stock/bond index, which have investment characteristics similar to those of the Fund.
Performance Availability Phone [Text] rr_PerformanceAvailabilityPhone 800-662-7447
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress vanguard.com/performance
Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture Keep in mind that the Fund’s past performance (before and after taxes) does not indicate how the Fund will perform in the future.
Bar Chart [Heading] rr_BarChartHeading Annual Total Returns — Vanguard Target Retirement 2040 Fund Investor Shares
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock During the periods shown in the bar chart, the highest return for a calendar quarter was 17.13% (quarter ended June 30, 2009), and the lowest return for a quarter was –19.62% (quarter ended December 31, 2008).
Performance Table Heading rr_PerformanceTableHeading Average Annual Total Returns for Periods Ended December 31, 2016
Performance Table Uses Highest Federal Rate rr_PerformanceTableUsesHighestFederalRate When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations.
Performance Table Not Relevant to Tax Deferred rr_PerformanceTableNotRelevantToTaxDeferred Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan.
Performance Table Explanation after Tax Higher rr_PerformanceTableExplanationAfterTaxHigher Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares may be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder.
Performance Table Narrative rr_PerformanceTableNarrativeTextBlock Actual after-tax returns depend on your tax situation and may differ from those shown in the preceding table. When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations. Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares may be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder.
Retail | Vanguard Target Retirement 2040 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
2007 rr_AnnualReturn2007 7.48% [2]
2008 rr_AnnualReturn2008 (34.53%) [2]
2009 rr_AnnualReturn2009 28.32% [2]
2010 rr_AnnualReturn2010 15.17% [2]
2011 rr_AnnualReturn2011 (2.55%) [2]
2012 rr_AnnualReturn2012 15.56% [2]
2013 rr_AnnualReturn2013 24.37% [2]
2014 rr_AnnualReturn2014 7.15% [2]
2015 rr_AnnualReturn2015 (1.59%) [2]
2016 rr_AnnualReturn2016 8.73% [2]
Year to Date Return, Label rr_YearToDateReturnLabel year-to-date return
Bar Chart, Year to Date Return, Date rr_BarChartYearToDateReturnDate Mar. 31, 2017
Bar Chart, Year to Date Return rr_BarChartYearToDateReturn 6.02%
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel highest return
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Jun. 30, 2009
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 17.13%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel lowest return
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Dec. 31, 2008
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (19.62%)
1 Year rr_AverageAnnualReturnYear01 8.73%
5 Years rr_AverageAnnualReturnYear05 10.51%
10 Years rr_AverageAnnualReturnYear10 5.26%
Retail | Vanguard Target Retirement 2040 Fund | Return After Taxes on Distributions | Investor Shares  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 8.04%
5 Years rr_AverageAnnualReturnYear05 9.89%
10 Years rr_AverageAnnualReturnYear10 4.75%
Retail | Vanguard Target Retirement 2040 Fund | Return After Taxes on Distributions and Sale of Fund Shares | Investor Shares  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 5.36%
5 Years rr_AverageAnnualReturnYear05 8.26%
10 Years rr_AverageAnnualReturnYear10 4.11%
Retail | Vanguard Target Retirement 2040 Fund | MSCI US Broad Market Index  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 12.67% [3]
5 Years rr_AverageAnnualReturnYear05 14.71% [3]
10 Years rr_AverageAnnualReturnYear10 7.26% [3]
Retail | Vanguard Target Retirement 2040 Fund | Bloomberg Barclays U.S. Aggregate Bond Index  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 2.65% [3]
5 Years rr_AverageAnnualReturnYear05 2.23% [3]
10 Years rr_AverageAnnualReturnYear10 4.34% [3]
Retail | Vanguard Target Retirement 2040 Fund | Target 2040 Composite Index  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 8.98% [3]
5 Years rr_AverageAnnualReturnYear05 10.80% [3]
10 Years rr_AverageAnnualReturnYear10 5.41% [3]
[1] /year
[2] The year-to-date return as of the most recent calendar quarter, which ended on March 31, 2017, was 6.02%.
[3] Comparative Indexes (reflect no deduction for fees, expenses, or taxes)
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Retail | Vanguard Target Retirement 2045 Fund
Vanguard Target Retirement 2045 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)
Shareholder Fees
Retail
Vanguard Target Retirement 2045 Fund
Investor Shares
USD ($)
Sales Charge (Load) Imposed on Purchases none
Purchase Fee none
Sales Charge (Load) Imposed on Reinvested Dividends none
Redemption Fee none
Account Service Fee (for certain fund account balances below $10,000) $ 20 [1]
[1] /year
Annual Fund Operating Expenses

(Expenses that you pay each year as a percentage of the value of your investment)
Annual Fund Operating Expenses
Retail
Vanguard Target Retirement 2045 Fund
Investor Shares
Management Fees none
12b-1 Distribution Fee none
Other Expenses none
Acquired Fund Fees and Expenses 0.16%
Total Annual Fund Operating Expenses 0.16%
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 $10,000 in the Fund’s shares. This example assumes that the Fund provides a return of 5% each year and that total annual fund operating expenses of the Fund and its underlying funds remain as stated in the preceding table. You would incur these hypothetical expenses whether or not you redeem your investment at the end of the given period. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
Expense Example
1 Year
3 Years
5 Years
10 Years
Retail | Vanguard Target Retirement 2045 Fund | Investor Shares | USD ($) 16 52 90 205
Portfolio Turnover
The Fund may pay transaction costs, such as purchase fees, 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. During the most recent fiscal period, the Fund’s portfolio turnover rate was 8% of the average value of its portfolio.
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 2045 (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 2045, the Fund’s asset allocation should become similar to that of the Target Retirement Income Fund. As of March 31, 2017, the Fund’s asset allocation among the underlying funds was as follows:

Vanguard Total Stock Market Index Fund              53.7%
Vanguard Total International Stock Index Fund             36.2%
Vanguard Total Bond Market II Index Fund               7.1%
Vanguard Total International Bond Index Fund  3.0%

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 any one 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 following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund has varied from one calendar year to another over the periods shown. The table shows how the average annual total returns of the Fund compare with those of relevant market indexes and a composite stock/bond index, which have investment characteristics similar to those of the Fund. Keep in mind that the Fund’s past performance (before and after taxes) does not indicate how the Fund will perform in the future. Updated performance information is available on our website at vanguard.com/performance or by calling Vanguard toll-free at 800-662-7447.
Annual Total Returns — Vanguard Target Retirement 2045 Fund Investor Shares
Bar Chart
[1] The year-to-date return as of the most recent calendar quarter, which ended on March 31, 2017, was 6.19%.
During the periods shown in the bar chart, the highest return for a calendar quarter was 17.15% (quarter ended June 30, 2009), and the lowest return for a quarter was –19.65% (quarter ended December 31, 2008).
Average Annual Total Returns for Periods Ended December 31, 2016
Average Annual Total Returns - Retail - Vanguard Target Retirement 2045 Fund
1 Year
5 Years
10 Years
Investor Shares 8.87% 10.54% 5.27%
Investor Shares | Return After Taxes on Distributions 8.17% 9.90% 4.71%
Investor Shares | Return After Taxes on Distributions and Sale of Fund Shares 5.46% 8.30% 4.11%
MSCI US Broad Market Index [1] 12.67% 14.71% 7.26%
Bloomberg Barclays U.S. Aggregate Bond Index [1] 2.65% 2.23% 4.34%
Target 2045 Composite Index [1] 9.13% 10.83% 5.43%
[1] Comparative Indexes (reflect no deduction for fees, expenses, or taxes)
Actual after-tax returns depend on your tax situation and may differ from those shown in the preceding table. When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations. Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares may be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder.
XML 36 R64.htm IDEA: XBRL DOCUMENT v3.7.0.1
Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Registrant Name dei_EntityRegistrantName VANGUARD CHESTER FUNDS
Prospectus Date rr_ProspectusDate Jul. 12, 2017
Retail | Vanguard Target Retirement 2045 Fund  
Risk/Return: rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading Vanguard Target Retirement 2045 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 may pay transaction costs, such as purchase fees, 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. During the most recent fiscal period, the Fund’s portfolio turnover rate was 8% of the average value of its portfolio.
Portfolio Turnover, Rate rr_PortfolioTurnoverRate 8.00%
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 2045 (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 2045, the Fund’s asset allocation should become similar to that of the Target Retirement Income Fund. As of March 31, 2017, the Fund’s asset allocation among the underlying funds was as follows:

Vanguard Total Stock Market Index Fund              53.7%
Vanguard Total International Stock Index Fund             36.2%
Vanguard Total Bond Market II Index Fund               7.1%
Vanguard Total International Bond Index Fund  3.0%

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 any one 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 following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund has varied from one calendar year to another over the periods shown. The table shows how the average annual total returns of the Fund compare with those of relevant market indexes and a composite stock/bond index, which have investment characteristics similar to those of the Fund. Keep in mind that the Fund’s past performance (before and after taxes) does not indicate how the Fund will perform in the future. Updated performance information is available on our website at vanguard.com/performance or by calling Vanguard toll-free at 800-662-7447.
Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns The following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund has varied from one calendar year to another over the periods shown. The table shows how the average annual total returns of the Fund compare with those of relevant market indexes and a composite stock/bond index, which have investment characteristics similar to those of the Fund.
Performance Availability Phone [Text] rr_PerformanceAvailabilityPhone 800-662-7447
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress vanguard.com/performance
Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture Keep in mind that the Fund’s past performance (before and after taxes) does not indicate how the Fund will perform in the future.
Bar Chart [Heading] rr_BarChartHeading Annual Total Returns — Vanguard Target Retirement 2045 Fund Investor Shares
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock During the periods shown in the bar chart, the highest return for a calendar quarter was 17.15% (quarter ended June 30, 2009), and the lowest return for a quarter was –19.65% (quarter ended December 31, 2008).
Performance Table Heading rr_PerformanceTableHeading Average Annual Total Returns for Periods Ended December 31, 2016
Performance Table Uses Highest Federal Rate rr_PerformanceTableUsesHighestFederalRate When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations.
Performance Table Not Relevant to Tax Deferred rr_PerformanceTableNotRelevantToTaxDeferred Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan.
Performance Table Explanation after Tax Higher rr_PerformanceTableExplanationAfterTaxHigher Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares may be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder.
Performance Table Narrative rr_PerformanceTableNarrativeTextBlock Actual after-tax returns depend on your tax situation and may differ from those shown in the preceding table. When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations. Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares may be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder.
Retail | Vanguard Target Retirement 2045 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
2007 rr_AnnualReturn2007 7.47% [2]
2008 rr_AnnualReturn2008 (34.56%) [2]
2009 rr_AnnualReturn2009 28.15% [2]
2010 rr_AnnualReturn2010 15.19% [2]
2011 rr_AnnualReturn2011 (2.51%) [2]
2012 rr_AnnualReturn2012 15.58% [2]
2013 rr_AnnualReturn2013 24.37% [2]
2014 rr_AnnualReturn2014 7.16% [2]
2015 rr_AnnualReturn2015 (1.57%) [2]
2016 rr_AnnualReturn2016 8.87% [2]
Year to Date Return, Label rr_YearToDateReturnLabel year-to-date return
Bar Chart, Year to Date Return, Date rr_BarChartYearToDateReturnDate Mar. 31, 2017
Bar Chart, Year to Date Return rr_BarChartYearToDateReturn 6.19%
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel highest return
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Jun. 30, 2009
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 17.15%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel lowest return
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Dec. 31, 2008
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (19.65%)
1 Year rr_AverageAnnualReturnYear01 8.87%
5 Years rr_AverageAnnualReturnYear05 10.54%
10 Years rr_AverageAnnualReturnYear10 5.27%
Retail | Vanguard Target Retirement 2045 Fund | Return After Taxes on Distributions | Investor Shares  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 8.17%
5 Years rr_AverageAnnualReturnYear05 9.90%
10 Years rr_AverageAnnualReturnYear10 4.71%
Retail | Vanguard Target Retirement 2045 Fund | Return After Taxes on Distributions and Sale of Fund Shares | Investor Shares  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 5.46%
5 Years rr_AverageAnnualReturnYear05 8.30%
10 Years rr_AverageAnnualReturnYear10 4.11%
Retail | Vanguard Target Retirement 2045 Fund | MSCI US Broad Market Index  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 12.67% [3]
5 Years rr_AverageAnnualReturnYear05 14.71% [3]
10 Years rr_AverageAnnualReturnYear10 7.26% [3]
Retail | Vanguard Target Retirement 2045 Fund | Bloomberg Barclays U.S. Aggregate Bond Index  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 2.65% [3]
5 Years rr_AverageAnnualReturnYear05 2.23% [3]
10 Years rr_AverageAnnualReturnYear10 4.34% [3]
Retail | Vanguard Target Retirement 2045 Fund | Target 2045 Composite Index  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 9.13% [3]
5 Years rr_AverageAnnualReturnYear05 10.83% [3]
10 Years rr_AverageAnnualReturnYear10 5.43% [3]
[1] /year
[2] The year-to-date return as of the most recent calendar quarter, which ended on March 31, 2017, was 6.19%.
[3] Comparative Indexes (reflect no deduction for fees, expenses, or taxes)
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Retail | Vanguard Target Retirement 2050 Fund
Vanguard Target Retirement 2050 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)
Shareholder Fees
Retail
Vanguard Target Retirement 2050 Fund
Investor Shares
USD ($)
Sales Charge (Load) Imposed on Purchases none
Purchase Fee none
Sales Charge (Load) Imposed on Reinvested Dividends none
Redemption Fee none
Account Service Fee (for certain fund account balances below $10,000) $ 20 [1]
[1] /year
Annual Fund Operating Expenses

(Expenses that you pay each year as a percentage of the value of your investment)
Annual Fund Operating Expenses
Retail
Vanguard Target Retirement 2050 Fund
Investor Shares
Management Fees none
12b-1 Distribution Fee none
Other Expenses none
Acquired Fund Fees and Expenses 0.16%
Total Annual Fund Operating Expenses 0.16%
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 $10,000 in the Fund’s shares. This example assumes that the Fund provides a return of 5% each year and that total annual fund operating expenses of the Fund and its underlying funds remain as stated in the preceding table. You would incur these hypothetical expenses whether or not you redeem your investment at the end of the given period. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
Expense Example
1 Year
3 Years
5 Years
10 Years
Retail | Vanguard Target Retirement 2050 Fund | Investor Shares | USD ($) 16 52 90 205
Portfolio Turnover
The Fund may pay transaction costs, such as purchase fees, 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. During the most recent fiscal period, the Fund’s portfolio turnover rate was 5% of the average value of its portfolio.
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 2050 (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 2050, the Fund’s asset allocation should become similar to that of the Target Retirement Income Fund. As of March 31, 2017, the Fund’s asset allocation among the underlying funds was as follows:

Vanguard Total Stock Market Index Fund 54.0%
Vanguard Total International Stock Index Fund 35.9%
Vanguard Total Bond Market II Index Fund 7.1%
Vanguard Total International Bond Index Fund 3.0%

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 following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund has varied from one calendar year to another over the periods shown. The table shows how the average annual total returns of the Fund compare with those of relevant market indexes and a composite stock/bond index, which have investment characteristics similar to those of the Fund. Keep in mind that the Fund’s past performance (before and after taxes) does not indicate how the Fund will perform in the future. Updated performance information is available on our website at vanguard.com/performance or by calling Vanguard toll-free at 800-662-7447.
Annual Total Returns — Vanguard Target Retirement 2050 Fund Investor Shares
Bar Chart
[1] The year-to-date return as of the most recent calendar quarter, which ended on March 31, 2017, was 6.19%.
During the periods shown in the bar chart, the highest return for a calendar quarter was 17.23% (quarter ended June 30, 2009), and the lowest return for a quarter was –19.71% (quarter ended December 31, 2008).
Average Annual Total Returns for Periods Ended December 31, 2016
Average Annual Total Returns - Retail - Vanguard Target Retirement 2050 Fund
1 Year
5 Years
10 Years
Investor Shares 8.85% 10.54% 5.27%
Investor Shares | Return After Taxes on Distributions 8.26% 9.97% 4.76%
Investor Shares | Return After Taxes on Distributions and Sale of Fund Shares 5.37% 8.29% 4.11%
MSCI US Broad Market Index [1] 12.67% 14.71% 7.26%
Bloomberg Barclays U.S. Aggregate Bond Index [1] 2.65% 2.23% 4.34%
Target 2050 Composite Index [1] 9.13% 10.83% 5.43%
[1] Comparative Indexes (reflect no deduction for fees, expenses, or taxes)
Actual after-tax returns depend on your tax situation and may differ from those shown in the preceding table. When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations. Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares may be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder.

XML 39 R71.htm IDEA: XBRL DOCUMENT v3.7.0.1
Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Registrant Name dei_EntityRegistrantName VANGUARD CHESTER FUNDS
Prospectus Date rr_ProspectusDate Jul. 12, 2017
Retail | Vanguard Target Retirement 2050 Fund  
Risk/Return: rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading Vanguard Target Retirement 2050 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 may pay transaction costs, such as purchase fees, 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. During the most recent fiscal period, the Fund’s portfolio turnover rate was 5% of the average value of its portfolio.
Portfolio Turnover, Rate rr_PortfolioTurnoverRate 5.00%
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 2050 (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 2050, the Fund’s asset allocation should become similar to that of the Target Retirement Income Fund. As of March 31, 2017, the Fund’s asset allocation among the underlying funds was as follows:

Vanguard Total Stock Market Index Fund 54.0%
Vanguard Total International Stock Index Fund 35.9%
Vanguard Total Bond Market II Index Fund 7.1%
Vanguard Total International Bond Index Fund 3.0%

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 following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund has varied from one calendar year to another over the periods shown. The table shows how the average annual total returns of the Fund compare with those of relevant market indexes and a composite stock/bond index, which have investment characteristics similar to those of the Fund. Keep in mind that the Fund’s past performance (before and after taxes) does not indicate how the Fund will perform in the future. Updated performance information is available on our website at vanguard.com/performance or by calling Vanguard toll-free at 800-662-7447.
Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns The following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund has varied from one calendar year to another over the periods shown. The table shows how the average annual total returns of the Fund compare with those of relevant market indexes and a composite stock/bond index, which have investment characteristics similar to those of the Fund.
Performance Availability Phone [Text] rr_PerformanceAvailabilityPhone 800-662-7447
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress vanguard.com/performance
Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture Keep in mind that the Fund’s past performance (before and after taxes) does not indicate how the Fund will perform in the future.
Bar Chart [Heading] rr_BarChartHeading Annual Total Returns — Vanguard Target Retirement 2050 Fund Investor Shares
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock During the periods shown in the bar chart, the highest return for a calendar quarter was 17.23% (quarter ended June 30, 2009), and the lowest return for a quarter was –19.71% (quarter ended December 31, 2008).
Performance Table Heading rr_PerformanceTableHeading Average Annual Total Returns for Periods Ended December 31, 2016
Performance Table Uses Highest Federal Rate rr_PerformanceTableUsesHighestFederalRate When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations.
Performance Table Not Relevant to Tax Deferred rr_PerformanceTableNotRelevantToTaxDeferred Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan.
Performance Table Explanation after Tax Higher rr_PerformanceTableExplanationAfterTaxHigher Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares may be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder.
Performance Table Narrative rr_PerformanceTableNarrativeTextBlock Actual after-tax returns depend on your tax situation and may differ from those shown in the preceding table. When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations. Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares may be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder.
Retail | Vanguard Target Retirement 2050 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
2007 rr_AnnualReturn2007 7.49% [2]
2008 rr_AnnualReturn2008 (34.62%) [2]
2009 rr_AnnualReturn2009 28.31% [2]
2010 rr_AnnualReturn2010 15.20% [2]
2011 rr_AnnualReturn2011 (2.54%) [2]
2012 rr_AnnualReturn2012 15.58% [2]
2013 rr_AnnualReturn2013 24.34% [2]
2014 rr_AnnualReturn2014 7.18% [2]
2015 rr_AnnualReturn2015 (1.58%) [2]
2016 rr_AnnualReturn2016 8.85% [2]
Year to Date Return, Label rr_YearToDateReturnLabel year-to-date return
Bar Chart, Year to Date Return, Date rr_BarChartYearToDateReturnDate Mar. 31, 2017
Bar Chart, Year to Date Return rr_BarChartYearToDateReturn 6.19%
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel highest return
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Jun. 30, 2009
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 17.23%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel lowest return
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Dec. 31, 2008
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (19.71%)
1 Year rr_AverageAnnualReturnYear01 8.85%
5 Years rr_AverageAnnualReturnYear05 10.54%
10 Years rr_AverageAnnualReturnYear10 5.27%
Retail | Vanguard Target Retirement 2050 Fund | Return After Taxes on Distributions | Investor Shares  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 8.26%
5 Years rr_AverageAnnualReturnYear05 9.97%
10 Years rr_AverageAnnualReturnYear10 4.76%
Retail | Vanguard Target Retirement 2050 Fund | Return After Taxes on Distributions and Sale of Fund Shares | Investor Shares  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 5.37%
5 Years rr_AverageAnnualReturnYear05 8.29%
10 Years rr_AverageAnnualReturnYear10 4.11%
Retail | Vanguard Target Retirement 2050 Fund | MSCI US Broad Market Index  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 12.67% [3]
5 Years rr_AverageAnnualReturnYear05 14.71% [3]
10 Years rr_AverageAnnualReturnYear10 7.26% [3]
Retail | Vanguard Target Retirement 2050 Fund | Bloomberg Barclays U.S. Aggregate Bond Index  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 2.65% [3]
5 Years rr_AverageAnnualReturnYear05 2.23% [3]
10 Years rr_AverageAnnualReturnYear10 4.34% [3]
Retail | Vanguard Target Retirement 2050 Fund | Target 2050 Composite Index  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 9.13% [3]
5 Years rr_AverageAnnualReturnYear05 10.83% [3]
10 Years rr_AverageAnnualReturnYear10 5.43% [3]
[1] /year
[2] The year-to-date return as of the most recent calendar quarter, which ended on March 31, 2017, was 6.19%.
[3] Comparative Indexes (reflect no deduction for fees, expenses, or taxes)
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Retail | Vanguard Target Retirement 2055 Fund
Vanguard Target Retirement 2055 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)
Shareholder Fees
Retail
Vanguard Target Retirement 2055 Fund
Investor Shares
USD ($)
Sales Charge (Load) Imposed on Purchases none
Purchase Fee none
Sales Charge (Load) Imposed on Reinvested Dividends none
Redemption Fee none
Account Service Fee (for certain fund account balances below $10,000) $ 20 [1]
[1] /year
Annual Fund Operating Expenses

(Expenses that you pay each year as a percentage of the value of your investment)
Annual Fund Operating Expenses
Retail
Vanguard Target Retirement 2055 Fund
Investor Shares
Management Fees none
12b-1 Distribution Fee none
Other Expenses none
Acquired Fund Fees and Expenses 0.16%
Total Annual Fund Operating Expenses 0.16%
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 $10,000 in the Fund’s shares. This example assumes that the Fund provides a return of 5% each year and that total annual fund operating expenses of the Fund and its underlying funds remain as stated in the preceding table. You would incur these hypothetical expenses whether or not you redeem your investment at the end of the given period. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
Expense Example
1 Year
3 Years
5 Years
10 Years
Retail | Vanguard Target Retirement 2055 Fund | Investor Shares | USD ($) 16 52 90 205
Portfolio Turnover
The Fund may pay transaction costs, such as purchase fees, 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. During the most recent fiscal period, the Fund’s portfolio turnover rate was 3% of the average value of its portfolio.
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 2055 (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 2055, the Fund’s asset allocation should become similar to that of the Target Retirement Income Fund. As of March 31, 2017, the Fund’s asset allocation among the underlying funds was as follows:

Vanguard Total Stock Market Index Fund 54.1%
Vanguard Total International Stock Index Fund 35.8%
Vanguard Total Bond Market II Index Fund 7.1%
Vanguard Total International Bond Index Fund 3.0%

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 following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund has varied from one calendar year to another over the periods shown. The table shows how the average annual total returns of the Fund compare with those of relevant market indexes and a composite stock/bond index, which have investment characteristics similar to those of the Fund. Keep in mind that the Fund’s past performance (before and after taxes) does not indicate how the Fund will perform in the future. Updated performance information is available on our website at vanguard.com/performance or by calling Vanguard toll-free at 800-662-7447.
Annual Total Returns — Vanguard Target Retirement 2055 Fund Investor Shares
Bar Chart
[1] The year-to-date return as of the most recent calendar quarter, which ended on March 31, 2017, was 6.17%.
During the periods shown in the bar chart, the highest return for a calendar quarter was 11.30% (quarter ended March 31, 2012), and the lowest return for a quarter was –14.79% (quarter ended September 30, 2011).
Average Annual Total Returns for Periods Ended December 31, 2016
Average Annual Total Returns - Retail - Vanguard Target Retirement 2055 Fund
1 Year
5 Years
Since Inception
Inception Date
Investor Shares 8.88% 10.51% 10.16% Aug. 18, 2010
Investor Shares | Return After Taxes on Distributions 8.30% 10.01% 9.68% Aug. 18, 2010
Investor Shares | Return After Taxes on Distributions and Sale of Fund Shares 5.37% 8.29% 8.10% Aug. 18, 2010
MSCI US Broad Market Index [1] 12.67% 14.71% 14.41% Aug. 18, 2010
Bloomberg Barclays U.S. Aggregate Bond Index [1] 2.65% 2.23% 2.86% Aug. 18, 2010
Target 2055 Composite Index [1] 9.13% 10.83% 10.44% Aug. 18, 2010
[1] Comparative Indexes (reflect no deduction for fees, expenses, or taxes)
Actual after-tax returns depend on your tax situation and may differ from those shown in the preceding table. When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations. Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares may be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder.
XML 42 R78.htm IDEA: XBRL DOCUMENT v3.7.0.1
Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Registrant Name dei_EntityRegistrantName VANGUARD CHESTER FUNDS
Prospectus Date rr_ProspectusDate Jul. 12, 2017
Retail | Vanguard Target Retirement 2055 Fund  
Risk/Return: rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading Vanguard Target Retirement 2055 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 may pay transaction costs, such as purchase fees, 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. During the most recent fiscal period, the Fund’s portfolio turnover rate was 3% of the average value of its portfolio.
Portfolio Turnover, Rate rr_PortfolioTurnoverRate 3.00%
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 2055 (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 2055, the Fund’s asset allocation should become similar to that of the Target Retirement Income Fund. As of March 31, 2017, the Fund’s asset allocation among the underlying funds was as follows:

Vanguard Total Stock Market Index Fund 54.1%
Vanguard Total International Stock Index Fund 35.8%
Vanguard Total Bond Market II Index Fund 7.1%
Vanguard Total International Bond Index Fund 3.0%

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 following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund has varied from one calendar year to another over the periods shown. The table shows how the average annual total returns of the Fund compare with those of relevant market indexes and a composite stock/bond index, which have investment characteristics similar to those of the Fund. Keep in mind that the Fund’s past performance (before and after taxes) does not indicate how the Fund will perform in the future. Updated performance information is available on our website at vanguard.com/performance or by calling Vanguard toll-free at 800-662-7447.
Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns The following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund has varied from one calendar year to another over the periods shown. The table shows how the average annual total returns of the Fund compare with those of relevant market indexes and a composite stock/bond index, which have investment characteristics similar to those of the Fund.
Performance Availability Phone [Text] rr_PerformanceAvailabilityPhone 800-662-7447
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress vanguard.com/performance
Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture Keep in mind that the Fund’s past performance (before and after taxes) does not indicate how the Fund will perform in the future.
Bar Chart [Heading] rr_BarChartHeading Annual Total Returns — Vanguard Target Retirement 2055 Fund Investor Shares
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock During the periods shown in the bar chart, the highest return for a calendar quarter was 11.30% (quarter ended March 31, 2012), and the lowest return for a quarter was –14.79% (quarter ended September 30, 2011).
Performance Table Heading rr_PerformanceTableHeading Average Annual Total Returns for Periods Ended December 31, 2016
Performance Table Uses Highest Federal Rate rr_PerformanceTableUsesHighestFederalRate When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations.
Performance Table Not Relevant to Tax Deferred rr_PerformanceTableNotRelevantToTaxDeferred Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan.
Performance Table Explanation after Tax Higher rr_PerformanceTableExplanationAfterTaxHigher Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares may be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder.
Performance Table Narrative rr_PerformanceTableNarrativeTextBlock Actual after-tax returns depend on your tax situation and may differ from those shown in the preceding table. When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations. Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares may be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder.
Retail | Vanguard Target Retirement 2055 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
2011 rr_AnnualReturn2011 (2.27%) [2]
2012 rr_AnnualReturn2012 15.58% [2]
2013 rr_AnnualReturn2013 24.33% [2]
2014 rr_AnnualReturn2014 7.19% [2]
2015 rr_AnnualReturn2015 (1.72%) [2]
2016 rr_AnnualReturn2016 8.88% [2]
Year to Date Return, Label rr_YearToDateReturnLabel year-to-date return
Bar Chart, Year to Date Return, Date rr_BarChartYearToDateReturnDate Mar. 31, 2007
Bar Chart, Year to Date Return rr_BarChartYearToDateReturn 6.17%
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel highest return
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Mar. 31, 2012
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 11.30%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel lowest return
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Sep. 30, 2011
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (14.79%)
1 Year rr_AverageAnnualReturnYear01 8.88%
5 Years rr_AverageAnnualReturnYear05 10.51%
Since Inception rr_AverageAnnualReturnSinceInception 10.16%
Inception Date rr_AverageAnnualReturnInceptionDate Aug. 18, 2010
Retail | Vanguard Target Retirement 2055 Fund | Return After Taxes on Distributions | Investor Shares  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 8.30%
5 Years rr_AverageAnnualReturnYear05 10.01%
Since Inception rr_AverageAnnualReturnSinceInception 9.68%
Inception Date rr_AverageAnnualReturnInceptionDate Aug. 18, 2010
Retail | Vanguard Target Retirement 2055 Fund | Return After Taxes on Distributions and Sale of Fund Shares | Investor Shares  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 5.37%
5 Years rr_AverageAnnualReturnYear05 8.29%
Since Inception rr_AverageAnnualReturnSinceInception 8.10%
Inception Date rr_AverageAnnualReturnInceptionDate Aug. 18, 2010
Retail | Vanguard Target Retirement 2055 Fund | MSCI US Broad Market Index  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 12.67% [3]
5 Years rr_AverageAnnualReturnYear05 14.71% [3]
Since Inception rr_AverageAnnualReturnSinceInception 14.41% [3]
Inception Date rr_AverageAnnualReturnInceptionDate Aug. 18, 2010 [3]
Retail | Vanguard Target Retirement 2055 Fund | Bloomberg Barclays U.S. Aggregate Bond Index  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 2.65% [3]
5 Years rr_AverageAnnualReturnYear05 2.23% [3]
Since Inception rr_AverageAnnualReturnSinceInception 2.86% [3]
Inception Date rr_AverageAnnualReturnInceptionDate Aug. 18, 2010 [3]
Retail | Vanguard Target Retirement 2055 Fund | Target 2055 Composite Index  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 9.13% [3]
5 Years rr_AverageAnnualReturnYear05 10.83% [3]
Since Inception rr_AverageAnnualReturnSinceInception 10.44% [3]
Inception Date rr_AverageAnnualReturnInceptionDate Aug. 18, 2010 [3]
[1] /year
[2] The year-to-date return as of the most recent calendar quarter, which ended on March 31, 2017, was 6.17%.
[3] Comparative Indexes (reflect no deduction for fees, expenses, or taxes)
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Retail | Vanguard Target Retirement 2060 Fund
Vanguard Target Retirement 2060 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)
Shareholder Fees
Retail
Vanguard Target Retirement 2060 Fund
Investor Shares
USD ($)
Sales Charge (Load) Imposed on Purchases none
Purchase Fee none
Sales Charge (Load) Imposed on Reinvested Dividends none
Redemption Fee none
Account Service Fee (for certain fund account balances below $10,000) $ 20 [1]
[1] /year
Annual Fund Operating Expenses

(Expenses that you pay each year as a percentage of the value of your investment)
Annual Fund Operating Expenses
Retail
Vanguard Target Retirement 2060 Fund
Investor Shares
Management Fees none
12b-1 Distribution Fee none
Other Expenses none
Acquired Fund Fees and Expenses 0.16%
Total Annual Fund Operating Expenses 0.16%
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 $10,000 in the Fund’s shares. This example assumes that the Fund provides a return of 5% each year and that total annual fund operating expenses of the Fund and its underlying funds remain as stated in the preceding table. You would incur these hypothetical expenses whether or not you redeem your investment at the end of the given period. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
Expense Example
1 Year
3 Years
5 Years
10 Years
Retail | Vanguard Target Retirement 2060 Fund | Investor Shares | USD ($) 16 52 90 205
Portfolio Turnover
The Fund may pay transaction costs, such as purchase fees, 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. During the most recent fiscal period, the Fund’s portfolio turnover rate was 3% of the average value of its portfolio.
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 2060 (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 2060, the Fund’s asset allocation should become similar to that of the Target Retirement Income Fund. As of March 31, 2017, the Fund’s asset allocation among the underlying funds was as follows:

Vanguard Total Stock Market Index Fund 54.2%
Vanguard Total International Stock Index Fund           35.8%
Vanguard Total Bond Market II Index Fund 7.0%
Vanguard Total International Bond Index Fund 3.0%

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 following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund has varied from one calendar year to another over the periods shown. The table shows how the average annual total returns of the Fund compare with those of relevant market indexes and a composite stock/bond index, which have investment characteristics similar to those of the Fund. Keep in mind that the Fund’s past performance (before and after taxes) does not indicate how the Fund will perform in the future. Updated performance information is available on our website at vanguard.com/performance or by calling Vanguard toll-free at 800-662-7447.
Annual Total Returns — Vanguard Target Retirement 2060 Fund Investor Shares
Bar Chart
[1] The year-to-date return as of the most recent calendar quarter, which ended on March 31, 2017, was 6.16%.
During the periods shown in the bar chart, the highest return for a calendar quarter was 7.61% (quarter ended March 31, 2013), and the lowest return for a quarter was –8.00% (quarter ended September 30, 2015).
Average Annual Total Returns for Periods Ended December 31, 2016
Average Annual Total Returns - Retail - Vanguard Target Retirement 2060 Fund
1 Year
Since Inception
Inception Date
Investor Shares 8.84% 9.66% Jan. 19, 2012
Investor Shares | Return After Taxes on Distributions 8.27% 9.20% Jan. 19, 2012
Investor Shares | Return After Taxes on Distributions and Sale of Fund Shares 5.35% 7.59% Jan. 19, 2012
MSCI US Broad Market Index [1] 12.67% 13.76% Jan. 19, 2012
Bloomberg Barclays U.S. Aggregate Bond Index [1] 2.65% 2.24% Jan. 19, 2012
Target 2060 Composite Index [1] 9.13% 9.98% Jan. 19, 2012
[1] Comparative Indexes (reflect no deduction for fees, expenses, or taxes)
Actual after-tax returns depend on your tax situation and may differ from those shown in the preceding table. When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations. Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares may be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder.
XML 45 R85.htm IDEA: XBRL DOCUMENT v3.7.0.1
Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Registrant Name dei_EntityRegistrantName VANGUARD CHESTER FUNDS
Prospectus Date rr_ProspectusDate Jul. 12, 2017
Retail | Vanguard Target Retirement 2060 Fund  
Risk/Return: rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading Vanguard Target Retirement 2060 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 may pay transaction costs, such as purchase fees, 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. During the most recent fiscal period, the Fund’s portfolio turnover rate was 3% of the average value of its portfolio.
Portfolio Turnover, Rate rr_PortfolioTurnoverRate 3.00%
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 2060 (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 2060, the Fund’s asset allocation should become similar to that of the Target Retirement Income Fund. As of March 31, 2017, the Fund’s asset allocation among the underlying funds was as follows:

Vanguard Total Stock Market Index Fund 54.2%
Vanguard Total International Stock Index Fund           35.8%
Vanguard Total Bond Market II Index Fund 7.0%
Vanguard Total International Bond Index Fund 3.0%

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 following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund has varied from one calendar year to another over the periods shown. The table shows how the average annual total returns of the Fund compare with those of relevant market indexes and a composite stock/bond index, which have investment characteristics similar to those of the Fund. Keep in mind that the Fund’s past performance (before and after taxes) does not indicate how the Fund will perform in the future. Updated performance information is available on our website at vanguard.com/performance or by calling Vanguard toll-free at 800-662-7447.
Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns The following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund has varied from one calendar year to another over the periods shown. The table shows how the average annual total returns of the Fund compare with those of relevant market indexes and a composite stock/bond index, which have investment characteristics similar to those of the Fund.
Performance Availability Phone [Text] rr_PerformanceAvailabilityPhone 800-662-7447
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress vanguard.com/performance
Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture Keep in mind that the Fund’s past performance (before and after taxes) does not indicate how the Fund will perform in the future.
Bar Chart [Heading] rr_BarChartHeading Annual Total Returns — Vanguard Target Retirement 2060 Fund Investor Shares
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock During the periods shown in the bar chart, the highest return for a calendar quarter was 7.61% (quarter ended March 31, 2013), and the lowest return for a quarter was –8.00% (quarter ended September 30, 2015).
Performance Table Heading rr_PerformanceTableHeading Average Annual Total Returns for Periods Ended December 31, 2016
Performance Table Uses Highest Federal Rate rr_PerformanceTableUsesHighestFederalRate When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations.
Performance Table Not Relevant to Tax Deferred rr_PerformanceTableNotRelevantToTaxDeferred Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan.
Performance Table Explanation after Tax Higher rr_PerformanceTableExplanationAfterTaxHigher Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares may be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder.
Performance Table Narrative rr_PerformanceTableNarrativeTextBlock Actual after-tax returns depend on your tax situation and may differ from those shown in the preceding table. When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations. Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares may be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder.
Retail | Vanguard Target Retirement 2060 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
2013 rr_AnnualReturn2013 24.35% [2]
2014 rr_AnnualReturn2014 7.16% [2]
2015 rr_AnnualReturn2015 (1.68%) [2]
2016 rr_AnnualReturn2016 8.84% [2]
Year to Date Return, Label rr_YearToDateReturnLabel year-to-date return
Bar Chart, Year to Date Return, Date rr_BarChartYearToDateReturnDate Mar. 31, 2017
Bar Chart, Year to Date Return rr_BarChartYearToDateReturn 6.16%
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel highest return
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Mar. 31, 2013
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 7.61%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel lowest return
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Sep. 30, 2015
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (8.00%)
1 Year rr_AverageAnnualReturnYear01 8.84%
Since Inception rr_AverageAnnualReturnSinceInception 9.66%
Inception Date rr_AverageAnnualReturnInceptionDate Jan. 19, 2012
Retail | Vanguard Target Retirement 2060 Fund | Return After Taxes on Distributions | Investor Shares  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 8.27%
Since Inception rr_AverageAnnualReturnSinceInception 9.20%
Inception Date rr_AverageAnnualReturnInceptionDate Jan. 19, 2012
Retail | Vanguard Target Retirement 2060 Fund | Return After Taxes on Distributions and Sale of Fund Shares | Investor Shares  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 5.35%
Since Inception rr_AverageAnnualReturnSinceInception 7.59%
Inception Date rr_AverageAnnualReturnInceptionDate Jan. 19, 2012
Retail | Vanguard Target Retirement 2060 Fund | MSCI US Broad Market Index  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 12.67% [3]
Since Inception rr_AverageAnnualReturnSinceInception 13.76% [3]
Inception Date rr_AverageAnnualReturnInceptionDate Jan. 19, 2012 [3]
Retail | Vanguard Target Retirement 2060 Fund | Bloomberg Barclays U.S. Aggregate Bond Index  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 2.65% [3]
Since Inception rr_AverageAnnualReturnSinceInception 2.24% [3]
Inception Date rr_AverageAnnualReturnInceptionDate Jan. 19, 2012 [3]
Retail | Vanguard Target Retirement 2060 Fund | Target 2060 Composite Index  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 9.13% [3]
Since Inception rr_AverageAnnualReturnSinceInception 9.98% [3]
Inception Date rr_AverageAnnualReturnInceptionDate Jan. 19, 2012 [3]
[1] /year
[2] The year-to-date return as of the most recent calendar quarter, which ended on March 31, 2017, was 6.16%.
[3] Comparative Indexes (reflect no deduction for fees, expenses, or taxes)
XML 46 R86.htm IDEA: XBRL DOCUMENT v3.7.0.1
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)
Shareholder Fees
Retail
Vanguard Target Retirement 2065 Fund
Investor Shares
USD ($)
Sales Charge (Load) Imposed on Purchases none
Purchase Fee none
Sales Charge (Load) Imposed on Reinvested Dividends none
Redemption Fee none
Account Service Fee (for certain fund account balances below $10,000) $ 20 [1]
[1] /year
Annual Fund Operating Expenses

(Expenses that you pay each year as a percentage of the value of your investment)
Annual Fund Operating Expenses
Retail
Vanguard Target Retirement 2065 Fund
Investor Shares
Management Fees none
12b-1 Distribution Fee none
Other Expenses none
Acquired Fund Fees and Expenses 0.16%
Total Annual Fund Operating Expenses 0.16%
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 $10,000 in the Fund’s shares. This example assumes that the Fund provides a return of 5% each year and that total annual fund operating expenses of the Fund and its underlying funds remain as stated in the preceding table. You would incur these hypothetical expenses whether or not you redeem your investment at the end of the given period. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
Expense Example
1 Year
3 Years
5 Years
10 Years
Retail | Vanguard Target Retirement 2065 Fund | Investor Shares | USD ($) 16 52 90 205
Portfolio Turnover
The Fund may pay transaction costs, such as purchase fees, 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 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:

Vanguard Total Stock Market Index Fund 54.0%
Vanguard Total International Stock Index Fund           36.0%
Vanguard Total Bond Market II Index Fund 7.0%
Vanguard Total International Bond Index Fund 3.0%

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 July 12, 2017, so performance information is not yet available.
XML 47 R90.htm IDEA: XBRL DOCUMENT v3.7.0.1
Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Registrant Name dei_EntityRegistrantName VANGUARD CHESTER FUNDS
Prospectus Date rr_ProspectusDate Jul. 12, 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 may pay transaction costs, such as purchase fees, 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 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:

Vanguard Total Stock Market Index Fund 54.0%
Vanguard Total International Stock Index Fund           36.0%
Vanguard Total Bond Market II Index Fund 7.0%
Vanguard Total International Bond Index Fund 3.0%

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 July 12, 2017, so performance information is not yet available.
Performance One Year or Less [Text] rr_PerformanceOneYearOrLess The Fund began operations on July 12, 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
[1] /year
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XML 49 R91.htm IDEA: XBRL DOCUMENT v3.7.0.1
Vanguard Institutional Target Retirement Income Fund
Vanguard Institutional Target Retirement Income Fund
Investment Objective
The Fund seeks to provide current income and some capital appreciation.
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)
Shareholder Fees
Vanguard Institutional Target Retirement Income Fund
Institutional Shares
Sales Charge (Load) Imposed on Purchases none
Purchase Fee none
Sales Charge (Load) Imposed on Reinvested Dividends none
Redemption Fee none
Annual Fund Operating Expenses

(Expenses that you pay each year as a percentage of the value of your investment)
Annual Fund Operating Expenses
Vanguard Institutional Target Retirement Income Fund
Institutional Shares
Management Fees none
12b-1 Distribution Fee none
Other Expenses none
Acquired Fund Fees and Expenses 0.09%
Total Annual Fund Operating Expenses 0.09%
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 $10,000 in the Fund’s shares. This example assumes that the Fund provides a return of 5% each year and that total annual fund operating expenses of the Fund and its underlying funds remain as stated in the preceding table. You would incur these hypothetical expenses whether or not you redeem your investment at the end of the given period. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
Expense Example
1 Year
3 Years
5 Years
10 Years
Vanguard Institutional Target Retirement Income Fund | Institutional Shares | USD ($) 9 29 51 115
Portfolio Turnover
The Fund may pay transaction costs, such as purchase fees, 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. During the most recent fiscal period, the Fund’s portfolio turnover rate was 11% of the average value of its portfolio.
Principal Investment Strategies
The Fund invests in other Vanguard mutual funds according to an asset allocation strategy designed for investors currently in retirement. As of March 31, 2017, the Fund’s asset allocation among the underlying funds was as follows:

Vanguard Total Bond Market II Index Fund       37.3%
Vanguard Total Stock Market Index Fund       18.0%
Vanguard Short-Term Inflation-Protected Securities Index Fund       16.8%
Vanguard Total International Bond Index Fund       15.9%
Vanguard Total International Stock Index Fund       12.0%

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 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; inflation-protected public obligations issued by the U.S. Treasury; 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).

The Fund’s indirect stock holdings are a diversified mix of U.S. and foreign large-, mid-, and small-capitalization stocks.
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. There is no guarantee that the Fund will provide adequate income through retirement. Because bonds and short-term investments usually are less volatile than stocks and because the Fund invests most of its assets in bonds and short-term investments, the Fund’s overall level of risk should be low to moderate.

• With approximately 70% 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.

• With approximately 30% 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 any one 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.

• 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 following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows the performance of the Fund in its first full calendar year. The table shows how the average annual total returns of the Fund compare with those of relevant market indexes and a composite bond/stock index, which have investment characteristics similar to those of the Fund. Keep in mind that the Fund’s past performance (before and after taxes) does not indicate how the Fund will perform in the future. Updated performance information is available on our website at vanguard.com/performance or by calling Vanguard toll-free at 800-662-7447.
Annual Total Returns — Vanguard Institutional Target Retirement Income Fund Institutional Shares
Bar Chart
[1] The year-to-date return as of the most recent calendar quarter, which ended on March 31, 2017, was 2.47%.
During the periods shown in the bar chart, the highest return for a calendar quarter was 2.28% (quarter ended March 31, 2016), and the lowest return for a quarter was –1.00% (quarter ended December 31, 2016).
Average Annual Total Returns for Periods Ended December 31, 2016
Average Annual Total Returns - Vanguard Institutional Target Retirement Income Fund
1 Year
Since Inception
Inception Date
Institutional Shares 5.29% 2.61% Jun. 26, 2015
Institutional Shares | Return After Taxes on Distributions 4.52% 1.93% Jun. 26, 2015
Institutional Shares | Return After Taxes on Distributions and Sale of Fund Shares 3.12% 1.75% Jun. 26, 2015
Bloomberg Barclays U.S. Aggregate Bond Index [1] 2.65% 2.60% Jun. 26, 2015
MSCI US Broad Market Index [1] 12.67% 5.89% Jun. 26, 2015
Target Income Composite Index [1] 5.35% 2.78% Jun. 26, 2015
[1] Comparative Indexes (reflect no deduction for fees, expenses, or taxes)
Actual after-tax returns depend on your tax situation and may differ from those shown in the preceding table. When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations. Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares may be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder.

XML 50 R97.htm IDEA: XBRL DOCUMENT v3.7.0.1
Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Registrant Name dei_EntityRegistrantName VANGUARD CHESTER FUNDS
Prospectus Date rr_ProspectusDate Jul. 12, 2017
Vanguard Institutional Target Retirement Income Fund  
Risk/Return: rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading Vanguard Institutional Target Retirement Income Fund
Objective [Heading] rr_ObjectiveHeading Investment Objective
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock The Fund seeks to provide current income and some capital appreciation.
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 may pay transaction costs, such as purchase fees, 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. During the most recent fiscal period, the Fund’s portfolio turnover rate was 11% of the average value of its portfolio.
Portfolio Turnover, Rate rr_PortfolioTurnoverRate 11.00%
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 currently in retirement. As of March 31, 2017, the Fund’s asset allocation among the underlying funds was as follows:

Vanguard Total Bond Market II Index Fund       37.3%
Vanguard Total Stock Market Index Fund       18.0%
Vanguard Short-Term Inflation-Protected Securities Index Fund       16.8%
Vanguard Total International Bond Index Fund       15.9%
Vanguard Total International Stock Index Fund       12.0%

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 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; inflation-protected public obligations issued by the U.S. Treasury; 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).

The Fund’s indirect stock holdings are a diversified mix of U.S. and foreign large-, mid-, and small-capitalization stocks.
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. There is no guarantee that the Fund will provide adequate income through retirement. Because bonds and short-term investments usually are less volatile than stocks and because the Fund invests most of its assets in bonds and short-term investments, the Fund’s overall level of risk should be low to moderate.

• With approximately 70% 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.

• With approximately 30% 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 any one 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.

• 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 following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows the performance of the Fund in its first full calendar year. The table shows how the average annual total returns of the Fund compare with those of relevant market indexes and a composite bond/stock index, which have investment characteristics similar to those of the Fund. Keep in mind that the Fund’s past performance (before and after taxes) does not indicate how the Fund will perform in the future. Updated performance information is available on our website at vanguard.com/performance or by calling Vanguard toll-free at 800-662-7447.
Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns The following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows the performance of the Fund in its first full calendar year. The table shows how the average annual total returns of the Fund compare with those of relevant market indexes and a composite bond/stock index, which have investment characteristics similar to those of the Fund.
Performance Availability Phone [Text] rr_PerformanceAvailabilityPhone 800-662-7447
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress vanguard.com/performance
Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture Keep in mind that the Fund’s past performance (before and after taxes) does not indicate how the Fund will perform in the future.
Bar Chart [Heading] rr_BarChartHeading Annual Total Returns — Vanguard Institutional Target Retirement Income Fund Institutional Shares
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock During the periods shown in the bar chart, the highest return for a calendar quarter was 2.28% (quarter ended March 31, 2016), and the lowest return for a quarter was –1.00% (quarter ended December 31, 2016).
Performance Table Heading rr_PerformanceTableHeading Average Annual Total Returns for Periods Ended December 31, 2016
Performance Table Uses Highest Federal Rate rr_PerformanceTableUsesHighestFederalRate When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations.
Performance Table Not Relevant to Tax Deferred rr_PerformanceTableNotRelevantToTaxDeferred Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan.
Performance Table Explanation after Tax Higher rr_PerformanceTableExplanationAfterTaxHigher Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares may be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder.
Performance Table Narrative rr_PerformanceTableNarrativeTextBlock Actual after-tax returns depend on your tax situation and may differ from those shown in the preceding table. When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations. Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares may be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder.
Vanguard Institutional Target Retirement Income 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 0.09%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.09%
1 Year rr_ExpenseExampleYear01 $ 9
3 Years rr_ExpenseExampleYear03 29
5 Years rr_ExpenseExampleYear05 51
10 Years rr_ExpenseExampleYear10 115
1 Year rr_ExpenseExampleNoRedemptionYear01 9
3 Years rr_ExpenseExampleNoRedemptionYear03 29
5 Years rr_ExpenseExampleNoRedemptionYear05 51
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 115
2016 rr_AnnualReturn2016 5.29% [1]
Year to Date Return, Label rr_YearToDateReturnLabel year-to-date return
Bar Chart, Year to Date Return, Date rr_BarChartYearToDateReturnDate Mar. 31, 2017
Bar Chart, Year to Date Return rr_BarChartYearToDateReturn 2.47%
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel highest return
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Mar. 31, 2016
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 2.28%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel lowest return
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Dec. 31, 2016
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (1.00%)
1 Year rr_AverageAnnualReturnYear01 5.29%
Since Inception rr_AverageAnnualReturnSinceInception 2.61%
Inception Date rr_AverageAnnualReturnInceptionDate Jun. 26, 2015
Vanguard Institutional Target Retirement Income Fund | Return After Taxes on Distributions | Institutional Shares  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 4.52%
Since Inception rr_AverageAnnualReturnSinceInception 1.93%
Inception Date rr_AverageAnnualReturnInceptionDate Jun. 26, 2015
Vanguard Institutional Target Retirement Income Fund | Return After Taxes on Distributions and Sale of Fund Shares | Institutional Shares  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 3.12%
Since Inception rr_AverageAnnualReturnSinceInception 1.75%
Inception Date rr_AverageAnnualReturnInceptionDate Jun. 26, 2015
Vanguard Institutional Target Retirement Income Fund | Bloomberg Barclays U.S. Aggregate Bond Index  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 2.65% [2]
Since Inception rr_AverageAnnualReturnSinceInception 2.60% [2]
Inception Date rr_AverageAnnualReturnInceptionDate Jun. 26, 2015 [2]
Vanguard Institutional Target Retirement Income Fund | MSCI US Broad Market Index  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 12.67% [2]
Since Inception rr_AverageAnnualReturnSinceInception 5.89% [2]
Inception Date rr_AverageAnnualReturnInceptionDate Jun. 26, 2015 [2]
Vanguard Institutional Target Retirement Income Fund | Target Income Composite Index  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 5.35% [2]
Since Inception rr_AverageAnnualReturnSinceInception 2.78% [2]
Inception Date rr_AverageAnnualReturnInceptionDate Jun. 26, 2015 [2]
[1] The year-to-date return as of the most recent calendar quarter, which ended on March 31, 2017, was 2.47%.
[2] Comparative Indexes (reflect no deduction for fees, expenses, or taxes)
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Vanguard Institutional Target Retirement 2010 Fund
Vanguard Institutional Target Retirement 2010 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)
Shareholder Fees
Vanguard Institutional Target Retirement 2010 Fund
Institutional Shares
Sales Charge (Load) Imposed on Purchases none
Purchase Fee none
Sales Charge (Load) Imposed on Reinvested Dividends none
Redemption Fee none
Annual Fund Operating Expenses

(Expenses that you pay each year as a percentage of the value of your investment)
Annual Fund Operating Expenses
Vanguard Institutional Target Retirement 2010 Fund
Institutional Shares
Management Fees none
12b-1 Distribution Fee none
Other Expenses none
Acquired Fund Fees and Expenses 0.09%
Total Annual Fund Operating Expenses 0.09%
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 $10,000 in the Fund’s shares. This example assumes that the Fund provides a return of 5% each year and that total annual fund operating expenses of the Fund and its underlying funds remain as stated in the preceding table. You would incur these hypothetical expenses whether or not you redeem your investment at the end of the given period. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
Expense Example
1 Year
3 Years
5 Years
10 Years
Vanguard Institutional Target Retirement 2010 Fund | Institutional Shares | USD ($) 9 29 51 115
Portfolio Turnover
The Fund may pay transaction costs, such as purchase fees, 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. During the most recent fiscal period, the Fund’s portfolio turnover rate was 13% of the average value of its portfolio.
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 2010 (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 2010, the Fund’s asset allocation should become similar to that of the Institutional Target Retirement Income Fund. As of March 31, 2017, the Fund’s asset allocation among the underlying funds was as follows:

Vanguard Total Bond Market II Index Fund       37.1%
Vanguard Total Stock Market Index Fund       18.3%
Vanguard Short-Term Inflation-Protected Securities Index Fund       16.6%
Vanguard Total International Bond Index Fund       15.9%
Vanguard Total International Stock Index Fund       12.1%

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 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; inflation-protected public obligations issued by the U.S. Treasury; 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).

The Fund’s indirect stock holdings are a diversified mix of U.S. and foreign large-, mid-, and small-capitalization stocks.
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 fixed income securities such as bonds usually are less volatile than stocks and because the Fund currently invests a significant portion of its assets in fixed income securities, the Fund’s overall level of risk should be lower than that of funds investing entirely in stocks.

• With approximately 70% 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.

• With approximately 30% 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 any one 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.

• 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 following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows the performance of the Fund in its first full calendar year. The table shows how the average annual total returns of the Fund compare with those of relevant market indexes and a composite bond/stock index, which have investment characteristics similar to those of the Fund. Keep in mind that the Fund’s past performance (before and after taxes) does not indicate how the Fund will perform in the future. Updated performance information is available on our website at vanguard.com/performance or by calling Vanguard toll-free at 800-662-7447.
Annual Total Returns — Vanguard Institutional Target Retirement 2010 Fund Institutional Shares
Bar Chart
[1] The year-to-date return as of the most recent calendar quarter, which ended on March 31, 2017, was 2.52%.
During the periods shown in the bar chart, the highest return for a calendar quarter was 2.20% (quarter ended March 31, 2016), and the lowest return for a quarter was –0.98% (quarter ended December 31, 2016).
Average Annual Total Returns for Periods Ended December 31, 2016
Average Annual Total Returns - Vanguard Institutional Target Retirement 2010 Fund
1 Year
Since Inception
Inception Date
Institutional Shares 5.31% 2.37% Jun. 26, 2015
Institutional Shares | Return After Taxes on Distributions 4.63% 1.77% Jun. 26, 2015
Institutional Shares | Return After Taxes on Distributions and Sale of Fund Shares 3.14% 1.60% Jun. 26, 2015
Bloomberg Barclays U.S. Aggregate Bond Index [1] 2.65% 2.60% Jun. 26, 2015
MSCI US Broad Market Index [1] 12.67% 5.89% Jun. 26, 2015
Target 2010 Composite Index [1] 5.44% 2.57% Jun. 26, 2015
[1] Comparative Indexes (reflect no deduction for fees, expenses, or taxes)
Actual after-tax returns depend on your tax situation and may differ from those shown in the preceding table. When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations. Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares may be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder.
XML 53 R104.htm IDEA: XBRL DOCUMENT v3.7.0.1
Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Registrant Name dei_EntityRegistrantName VANGUARD CHESTER FUNDS
Prospectus Date rr_ProspectusDate Jul. 12, 2017
Vanguard Institutional Target Retirement 2010 Fund  
Risk/Return: rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading Vanguard Institutional Target Retirement 2010 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 may pay transaction costs, such as purchase fees, 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. During the most recent fiscal period, the Fund’s portfolio turnover rate was 13% of the average value of its portfolio.
Portfolio Turnover, Rate rr_PortfolioTurnoverRate 13.00%
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 2010 (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 2010, the Fund’s asset allocation should become similar to that of the Institutional Target Retirement Income Fund. As of March 31, 2017, the Fund’s asset allocation among the underlying funds was as follows:

Vanguard Total Bond Market II Index Fund       37.1%
Vanguard Total Stock Market Index Fund       18.3%
Vanguard Short-Term Inflation-Protected Securities Index Fund       16.6%
Vanguard Total International Bond Index Fund       15.9%
Vanguard Total International Stock Index Fund       12.1%

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 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; inflation-protected public obligations issued by the U.S. Treasury; 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).

The Fund’s indirect stock holdings are a diversified mix of U.S. and foreign large-, mid-, and small-capitalization stocks.
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 fixed income securities such as bonds usually are less volatile than stocks and because the Fund currently invests a significant portion of its assets in fixed income securities, the Fund’s overall level of risk should be lower than that of funds investing entirely in stocks.

• With approximately 70% 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.

• With approximately 30% 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 any one 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.

• 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 following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows the performance of the Fund in its first full calendar year. The table shows how the average annual total returns of the Fund compare with those of relevant market indexes and a composite bond/stock index, which have investment characteristics similar to those of the Fund. Keep in mind that the Fund’s past performance (before and after taxes) does not indicate how the Fund will perform in the future. Updated performance information is available on our website at vanguard.com/performance or by calling Vanguard toll-free at 800-662-7447.
Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns The following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows the performance of the Fund in its first full calendar year. The table shows how the average annual total returns of the Fund compare with those of relevant market indexes and a composite bond/stock index, which have investment characteristics similar to those of the Fund.
Performance Availability Phone [Text] rr_PerformanceAvailabilityPhone 800-662-7447
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress vanguard.com/performance
Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture Keep in mind that the Fund’s past performance (before and after taxes) does not indicate how the Fund will perform in the future.
Bar Chart [Heading] rr_BarChartHeading Annual Total Returns — Vanguard Institutional Target Retirement 2010 Fund Institutional Shares
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock During the periods shown in the bar chart, the highest return for a calendar quarter was 2.20% (quarter ended March 31, 2016), and the lowest return for a quarter was –0.98% (quarter ended December 31, 2016).
Performance Table Heading rr_PerformanceTableHeading Average Annual Total Returns for Periods Ended December 31, 2016
Performance Table Uses Highest Federal Rate rr_PerformanceTableUsesHighestFederalRate When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations.
Performance Table Not Relevant to Tax Deferred rr_PerformanceTableNotRelevantToTaxDeferred Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan.
Performance Table Explanation after Tax Higher rr_PerformanceTableExplanationAfterTaxHigher Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares may be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder.
Performance Table Narrative rr_PerformanceTableNarrativeTextBlock Actual after-tax returns depend on your tax situation and may differ from those shown in the preceding table. When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations. Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares may be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder.
Vanguard Institutional Target Retirement 2010 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 0.09%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.09%
1 Year rr_ExpenseExampleYear01 $ 9
3 Years rr_ExpenseExampleYear03 29
5 Years rr_ExpenseExampleYear05 51
10 Years rr_ExpenseExampleYear10 115
1 Year rr_ExpenseExampleNoRedemptionYear01 9
3 Years rr_ExpenseExampleNoRedemptionYear03 29
5 Years rr_ExpenseExampleNoRedemptionYear05 51
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 115
2016 rr_AnnualReturn2016 5.31% [1]
Year to Date Return, Label rr_YearToDateReturnLabel year-to-date return
Bar Chart, Year to Date Return, Date rr_BarChartYearToDateReturnDate Mar. 31, 2017
Bar Chart, Year to Date Return rr_BarChartYearToDateReturn 2.52%
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel highest return
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Mar. 31, 2016
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 2.20%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel lowest return
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Dec. 31, 2016
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (0.98%)
1 Year rr_AverageAnnualReturnYear01 5.31%
Since Inception rr_AverageAnnualReturnSinceInception 2.37%
Inception Date rr_AverageAnnualReturnInceptionDate Jun. 26, 2015
Vanguard Institutional Target Retirement 2010 Fund | Return After Taxes on Distributions | Institutional Shares  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 4.63%
Since Inception rr_AverageAnnualReturnSinceInception 1.77%
Inception Date rr_AverageAnnualReturnInceptionDate Jun. 26, 2015
Vanguard Institutional Target Retirement 2010 Fund | Return After Taxes on Distributions and Sale of Fund Shares | Institutional Shares  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 3.14%
Since Inception rr_AverageAnnualReturnSinceInception 1.60%
Inception Date rr_AverageAnnualReturnInceptionDate Jun. 26, 2015
Vanguard Institutional Target Retirement 2010 Fund | Bloomberg Barclays U.S. Aggregate Bond Index  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 2.65% [2]
Since Inception rr_AverageAnnualReturnSinceInception 2.60% [2]
Inception Date rr_AverageAnnualReturnInceptionDate Jun. 26, 2015 [2]
Vanguard Institutional Target Retirement 2010 Fund | MSCI US Broad Market Index  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 12.67% [2]
Since Inception rr_AverageAnnualReturnSinceInception 5.89% [2]
Inception Date rr_AverageAnnualReturnInceptionDate Jun. 26, 2015 [2]
Vanguard Institutional Target Retirement 2010 Fund | Target 2010 Composite Index  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 5.44% [2]
Since Inception rr_AverageAnnualReturnSinceInception 2.57% [2]
Inception Date rr_AverageAnnualReturnInceptionDate Jun. 26, 2015 [2]
[1] The year-to-date return as of the most recent calendar quarter, which ended on March 31, 2017, was 2.52%.
[2] Comparative Indexes (reflect no deduction for fees, expenses, or taxes)
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    Vanguard Institutional Target Retirement 2015 Fund
    Vanguard Institutional Target Retirement 2015 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)
    Shareholder Fees
    Vanguard Institutional Target Retirement 2015 Fund
    Institutional Shares
    Sales Charge (Load) Imposed on Purchases none
    Purchase Fee none
    Sales Charge (Load) Imposed on Reinvested Dividends none
    Redemption Fee none
    Annual Fund Operating Expenses

    (Expenses that you pay each year as a percentage of the value of your investment)
    Annual Fund Operating Expenses
    Vanguard Institutional Target Retirement 2015 Fund
    Institutional Shares
    Management Fees none
    12b-1 Distribution Fee none
    Other Expenses none
    Acquired Fund Fees and Expenses 0.09%
    Total Annual Fund Operating Expenses 0.09%
    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 $10,000 in the Fund’s shares. This example assumes that the Fund provides a return of 5% each year and that total annual fund operating expenses of the Fund and its underlying funds remain as stated in the preceding table. You would incur these hypothetical expenses whether or not you redeem your investment at the end of the given period. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
    Expense Example
    1 Year
    3 Years
    5 Years
    10 Years
    Vanguard Institutional Target Retirement 2015 Fund | Institutional Shares | USD ($) 9 29 51 115
    Portfolio Turnover
    The Fund may pay transaction costs, such as purchase fees, 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. During the most recent fiscal period, the Fund’s portfolio turnover rate was 9% of the average value of its portfolio.
    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 2015 (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 2015, the Fund’s asset allocation should become similar to that of the Institutional Target Retirement Income Fund. As of March 31, 2017, the Fund’s asset allocation among the underlying funds was as follows:

    Vanguard Total Bond Market II Index Fund 31.6%
    Vanguard Total Stock Market Index Fund 26.7%
    Vanguard Total International Stock Index Fund 18.0%
    Vanguard Total International Bond Index Fund 13.4%
    Vanguard Short-Term Inflation-Protected Securities Index Fund 10.3%

    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 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; inflation-protected public obligations issued by the U.S. Treasury; 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).

    The Fund’s indirect stock holdings are a diversified mix of U.S. and foreign large-, mid-, and small-capitalization stocks.
    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 fixed income securities such as bonds usually are less volatile than stocks and because the Fund currently invests a significant portion of its assets in fixed income securities, the Fund’s overall level of risk should be lower than that of funds investing entirely in stocks.

    • With approximately 55% 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.

    • With approximately 45% 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 any one 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.

    • 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 following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows the performance of the Fund in its first full calendar year. The table shows how the average annual total returns of the Fund compare with those of relevant market indexes and a composite bond/stock index, which have investment characteristics similar to those of the Fund. Keep in mind that the Fund’s past performance (before and after taxes) does not indicate how the Fund will perform in the future. Updated performance information is available on our website at vanguard.com/performance or by calling Vanguard toll-free at 800-662-7447.
    Annual Total Returns — Vanguard Institutional Target Retirement 2015 Fund Institutional Shares
    Bar Chart
    [1] The year-to-date return as of the most recent calendar quarter, which ended on March 31, 2017, was 3.37%.
    During the periods shown in the bar chart, the highest return for a calendar quarter was 2.74% (quarter ended September 30, 2016), and the lowest return for a quarter was –0.47% (quarter ended December 31, 2016).
    Average Annual Total Returns for Periods Ended December 31, 2016
    Average Annual Total Returns - Vanguard Institutional Target Retirement 2015 Fund
    1 Year
    Since Inception
    Inception Date
    Institutional Shares 6.27% 2.31% Jun. 26, 2015
    Institutional Shares | Return After Taxes on Distributions 5.58% 1.70% Jun. 26, 2015
    Institutional Shares | Return After Taxes on Distributions and Sale of Fund Shares 3.74% 1.58% Jun. 26, 2015
    Bloomberg Barclays U.S. Aggregate Bond Index [1] 2.65% 2.60% Jun. 26, 2015
    MSCI US Broad Market Index [1] 12.67% 5.89% Jun. 26, 2015
    Target 2015 Composite Index [1] 6.40% 2.54% Jun. 26, 2015
    [1] Comparative Indexes (reflect no deduction for fees, expenses, or taxes)
    Actual after-tax returns depend on your tax situation and may differ from those shown in the preceding table. When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations. Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares may be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder.
    XML 56 R111.htm IDEA: XBRL DOCUMENT v3.7.0.1
    Label Element Value
    Risk/Return: rr_RiskReturnAbstract  
    Registrant Name dei_EntityRegistrantName VANGUARD CHESTER FUNDS
    Prospectus Date rr_ProspectusDate Jul. 12, 2017
    Vanguard Institutional Target Retirement 2015 Fund  
    Risk/Return: rr_RiskReturnAbstract  
    Risk/Return [Heading] rr_RiskReturnHeading Vanguard Institutional Target Retirement 2015 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 may pay transaction costs, such as purchase fees, 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. During the most recent fiscal period, the Fund’s portfolio turnover rate was 9% of the average value of its portfolio.
    Portfolio Turnover, Rate rr_PortfolioTurnoverRate 9.00%
    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 2015 (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 2015, the Fund’s asset allocation should become similar to that of the Institutional Target Retirement Income Fund. As of March 31, 2017, the Fund’s asset allocation among the underlying funds was as follows:

    Vanguard Total Bond Market II Index Fund 31.6%
    Vanguard Total Stock Market Index Fund 26.7%
    Vanguard Total International Stock Index Fund 18.0%
    Vanguard Total International Bond Index Fund 13.4%
    Vanguard Short-Term Inflation-Protected Securities Index Fund 10.3%

    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 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; inflation-protected public obligations issued by the U.S. Treasury; 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).

    The Fund’s indirect stock holdings are a diversified mix of U.S. and foreign large-, mid-, and small-capitalization stocks.
    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 fixed income securities such as bonds usually are less volatile than stocks and because the Fund currently invests a significant portion of its assets in fixed income securities, the Fund’s overall level of risk should be lower than that of funds investing entirely in stocks.

    • With approximately 55% 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.

    • With approximately 45% 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 any one 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.

    • 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 following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows the performance of the Fund in its first full calendar year. The table shows how the average annual total returns of the Fund compare with those of relevant market indexes and a composite bond/stock index, which have investment characteristics similar to those of the Fund. Keep in mind that the Fund’s past performance (before and after taxes) does not indicate how the Fund will perform in the future. Updated performance information is available on our website at vanguard.com/performance or by calling Vanguard toll-free at 800-662-7447.
    Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns The following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows the performance of the Fund in its first full calendar year. The table shows how the average annual total returns of the Fund compare with those of relevant market indexes and a composite bond/stock index, which have investment characteristics similar to those of the Fund.
    Performance Availability Phone [Text] rr_PerformanceAvailabilityPhone 800-662-7447
    Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress vanguard.com/performance
    Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture Keep in mind that the Fund’s past performance (before and after taxes) does not indicate how the Fund will perform in the future.
    Bar Chart [Heading] rr_BarChartHeading Annual Total Returns — Vanguard Institutional Target Retirement 2015 Fund Institutional Shares
    Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock During the periods shown in the bar chart, the highest return for a calendar quarter was 2.74% (quarter ended September 30, 2016), and the lowest return for a quarter was –0.47% (quarter ended December 31, 2016).
    Performance Table Heading rr_PerformanceTableHeading Average Annual Total Returns for Periods Ended December 31, 2016
    Performance Table Uses Highest Federal Rate rr_PerformanceTableUsesHighestFederalRate When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations.
    Performance Table Not Relevant to Tax Deferred rr_PerformanceTableNotRelevantToTaxDeferred Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan.
    Performance Table Explanation after Tax Higher rr_PerformanceTableExplanationAfterTaxHigher Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares may be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder.
    Performance Table Narrative rr_PerformanceTableNarrativeTextBlock Actual after-tax returns depend on your tax situation and may differ from those shown in the preceding table. When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations. Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares may be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder.
    Vanguard Institutional Target Retirement 2015 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 0.09%
    Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.09%
    1 Year rr_ExpenseExampleYear01 $ 9
    3 Years rr_ExpenseExampleYear03 29
    5 Years rr_ExpenseExampleYear05 51
    10 Years rr_ExpenseExampleYear10 115
    1 Year rr_ExpenseExampleNoRedemptionYear01 9
    3 Years rr_ExpenseExampleNoRedemptionYear03 29
    5 Years rr_ExpenseExampleNoRedemptionYear05 51
    10 Years rr_ExpenseExampleNoRedemptionYear10 $ 115
    2016 rr_AnnualReturn2016 6.27% [1]
    Year to Date Return, Label rr_YearToDateReturnLabel year-to-date return
    Bar Chart, Year to Date Return, Date rr_BarChartYearToDateReturnDate Mar. 31, 2017
    Bar Chart, Year to Date Return rr_BarChartYearToDateReturn 3.37%
    Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel highest return
    Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Sep. 30, 2016
    Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 2.74%
    Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel lowest return
    Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Dec. 31, 2016
    Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (0.47%)
    1 Year rr_AverageAnnualReturnYear01 6.27%
    Since Inception rr_AverageAnnualReturnSinceInception 2.31%
    Inception Date rr_AverageAnnualReturnInceptionDate Jun. 26, 2015
    Vanguard Institutional Target Retirement 2015 Fund | Return After Taxes on Distributions | Institutional Shares  
    Risk/Return: rr_RiskReturnAbstract  
    1 Year rr_AverageAnnualReturnYear01 5.58%
    Since Inception rr_AverageAnnualReturnSinceInception 1.70%
    Inception Date rr_AverageAnnualReturnInceptionDate Jun. 26, 2015
    Vanguard Institutional Target Retirement 2015 Fund | Return After Taxes on Distributions and Sale of Fund Shares | Institutional Shares  
    Risk/Return: rr_RiskReturnAbstract  
    1 Year rr_AverageAnnualReturnYear01 3.74%
    Since Inception rr_AverageAnnualReturnSinceInception 1.58%
    Inception Date rr_AverageAnnualReturnInceptionDate Jun. 26, 2015
    Vanguard Institutional Target Retirement 2015 Fund | Bloomberg Barclays U.S. Aggregate Bond Index  
    Risk/Return: rr_RiskReturnAbstract  
    1 Year rr_AverageAnnualReturnYear01 2.65% [2]
    Since Inception rr_AverageAnnualReturnSinceInception 2.60% [2]
    Inception Date rr_AverageAnnualReturnInceptionDate Jun. 26, 2015 [2]
    Vanguard Institutional Target Retirement 2015 Fund | MSCI US Broad Market Index  
    Risk/Return: rr_RiskReturnAbstract  
    1 Year rr_AverageAnnualReturnYear01 12.67% [2]
    Since Inception rr_AverageAnnualReturnSinceInception 5.89% [2]
    Inception Date rr_AverageAnnualReturnInceptionDate Jun. 26, 2015 [2]
    Vanguard Institutional Target Retirement 2015 Fund | Target 2015 Composite Index  
    Risk/Return: rr_RiskReturnAbstract  
    1 Year rr_AverageAnnualReturnYear01 6.40% [2]
    Since Inception rr_AverageAnnualReturnSinceInception 2.54% [2]
    Inception Date rr_AverageAnnualReturnInceptionDate Jun. 26, 2015 [2]
    [1] The year-to-date return as of the most recent calendar quarter, which ended on March 31, 2017, was 3.37%.
    [2] Comparative Indexes (reflect no deduction for fees, expenses, or taxes)
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    Vanguard Institutional Target Retirement 2020 Fund
    Vanguard Institutional Target Retirement 2020 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)
    Shareholder Fees
    Vanguard Institutional Target Retirement 2020 Fund
    Institutional Shares
    Sales Charge (Load) Imposed on Purchases none
    Purchase Fee none
    Sales Charge (Load) Imposed on Reinvested Dividends none
    Redemption Fee none
    Annual Fund Operating Expenses

    (Expenses that you pay each year as a percentage of the value of your investment)
    Annual Fund Operating Expenses
    Vanguard Institutional Target Retirement 2020 Fund
    Institutional Shares
    Management Fees none
    12b-1 Distribution Fee none
    Other Expenses none
    Acquired Fund Fees and Expenses 0.09%
    Total Annual Fund Operating Expenses 0.09%
    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 $10,000 in the Fund’s shares. This example assumes that the Fund provides a return of 5% each year and that total annual fund operating expenses of the Fund and its underlying funds remain as stated in the preceding table. You would incur these hypothetical expenses whether or not you redeem your investment at the end of the given period. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
    Expense Example
    1 Year
    3 Years
    5 Years
    10 Years
    Vanguard Institutional Target Retirement 2020 Fund | Institutional Shares | USD ($) 9 29 51 115
    Portfolio Turnover
    The Fund may pay transaction costs, such as purchase fees, 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. During the most recent fiscal period, the Fund’s portfolio turnover rate was 6% of the average value of its portfolio.
    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 2020 (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 2020, the Fund’s asset allocation should become similar to that of the Institutional Target Retirement Income Fund. As of March 31, 2017, the Fund’s asset allocation among the underlying funds was as follows:

    Vanguard Total Stock Market Index Fund 33.2%
    Vanguard Total Bond Market II Index Fund 28.7%
    Vanguard Total International Stock Index Fund 22.7%
    Vanguard Total International Bond Index Fund 12.2%
    Vanguard Short-Term Inflation-Protected Securities Index Fund 3.2%

    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; inflation-protected public obligations issued by the U.S. Treasury; 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 56% 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 any one 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 44% 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 following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows the performance of the Fund in its first full calendar year. The table shows how the average annual total returns of the Fund compare with those of relevant market indexes and a composite stock/bond index, which have investment characteristics similar to those of the Fund. Keep in mind that the Fund’s past performance (before and after taxes) does not indicate how the Fund will perform in the future. Updated performance information is available on our website at vanguard.com/performance or by calling Vanguard toll-free at 800-662-7447.
    Annual Total Returns — Vanguard Institutional Target Retirement 2020 Fund Institutional Shares
    Bar Chart
    [1] The year-to-date return as of the most recent calendar quarter, which ended on March 31, 2017, was 4.12%.
    During the periods shown in the bar chart, the highest return for a calendar quarter was 3.31% (quarter ended September 30, 2016), and the lowest return for a quarter was –0.19% (quarter ended December 31, 2016).
    Average Annual Total Returns for Periods Ended December 31, 2016
    Average Annual Total Returns - Vanguard Institutional Target Retirement 2020 Fund
    1 Year
    Since Inception
    Inception Date
    Institutional Shares 7.04% 2.35% Jun. 26, 2015
    Institutional Shares | Return After Taxes on Distributions 6.37% 1.74% Jun. 26, 2015
    Institutional Shares | Return After Taxes on Distributions and Sale of Fund Shares 4.22% 1.63% Jun. 26, 2015
    MSCI US Broad Market Index [1] 12.67% 5.89% Jun. 26, 2015
    Bloomberg Barclays U.S. Aggregate Bond Index [1] 2.65% 2.60% Jun. 26, 2015
    Target 2020 Composite Index [1] 7.17% 2.62% Jun. 26, 2015
    [1] Comparative Indexes (reflect no deduction for fees, expenses, or taxes)
    Actual after-tax returns depend on your tax situation and may differ from those shown in the preceding table. When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations. Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares may be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder.

    XML 59 R118.htm IDEA: XBRL DOCUMENT v3.7.0.1
    Label Element Value
    Risk/Return: rr_RiskReturnAbstract  
    Registrant Name dei_EntityRegistrantName VANGUARD CHESTER FUNDS
    Prospectus Date rr_ProspectusDate Jul. 12, 2017
    Vanguard Institutional Target Retirement 2020 Fund  
    Risk/Return: rr_RiskReturnAbstract  
    Risk/Return [Heading] rr_RiskReturnHeading Vanguard Institutional Target Retirement 2020 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 may pay transaction costs, such as purchase fees, 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. During the most recent fiscal period, the Fund’s portfolio turnover rate was 6% of the average value of its portfolio.
    Portfolio Turnover, Rate rr_PortfolioTurnoverRate 6.00%
    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 2020 (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 2020, the Fund’s asset allocation should become similar to that of the Institutional Target Retirement Income Fund. As of March 31, 2017, the Fund’s asset allocation among the underlying funds was as follows:

    Vanguard Total Stock Market Index Fund 33.2%
    Vanguard Total Bond Market II Index Fund 28.7%
    Vanguard Total International Stock Index Fund 22.7%
    Vanguard Total International Bond Index Fund 12.2%
    Vanguard Short-Term Inflation-Protected Securities Index Fund 3.2%

    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; inflation-protected public obligations issued by the U.S. Treasury; 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 56% 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 any one 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 44% 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 following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows the performance of the Fund in its first full calendar year. The table shows how the average annual total returns of the Fund compare with those of relevant market indexes and a composite stock/bond index, which have investment characteristics similar to those of the Fund. Keep in mind that the Fund’s past performance (before and after taxes) does not indicate how the Fund will perform in the future. Updated performance information is available on our website at vanguard.com/performance or by calling Vanguard toll-free at 800-662-7447.
    Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns The following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows the performance of the Fund in its first full calendar year. The table shows how the average annual total returns of the Fund compare with those of relevant market indexes and a composite stock/bond index, which have investment characteristics similar to those of the Fund.
    Performance Availability Phone [Text] rr_PerformanceAvailabilityPhone 800-662-7447
    Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress vanguard.com/performance
    Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture Keep in mind that the Fund’s past performance (before and after taxes) does not indicate how the Fund will perform in the future.
    Bar Chart [Heading] rr_BarChartHeading Annual Total Returns — Vanguard Institutional Target Retirement 2020 Fund Institutional Shares
    Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock During the periods shown in the bar chart, the highest return for a calendar quarter was 3.31% (quarter ended September 30, 2016), and the lowest return for a quarter was –0.19% (quarter ended December 31, 2016).
    Performance Table Heading rr_PerformanceTableHeading Average Annual Total Returns for Periods Ended December 31, 2016
    Performance Table Uses Highest Federal Rate rr_PerformanceTableUsesHighestFederalRate When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations.
    Performance Table Not Relevant to Tax Deferred rr_PerformanceTableNotRelevantToTaxDeferred Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan.
    Performance Table Explanation after Tax Higher rr_PerformanceTableExplanationAfterTaxHigher Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares may be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder.
    Performance Table Narrative rr_PerformanceTableNarrativeTextBlock Actual after-tax returns depend on your tax situation and may differ from those shown in the preceding table. When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations. Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares may be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder.
    Vanguard Institutional Target Retirement 2020 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 0.09%
    Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.09%
    1 Year rr_ExpenseExampleYear01 $ 9
    3 Years rr_ExpenseExampleYear03 29
    5 Years rr_ExpenseExampleYear05 51
    10 Years rr_ExpenseExampleYear10 115
    1 Year rr_ExpenseExampleNoRedemptionYear01 9
    3 Years rr_ExpenseExampleNoRedemptionYear03 29
    5 Years rr_ExpenseExampleNoRedemptionYear05 51
    10 Years rr_ExpenseExampleNoRedemptionYear10 $ 115
    2016 rr_AnnualReturn2016 7.04% [1]
    Year to Date Return, Label rr_YearToDateReturnLabel year-to-date return
    Bar Chart, Year to Date Return, Date rr_BarChartYearToDateReturnDate Mar. 31, 2017
    Bar Chart, Year to Date Return rr_BarChartYearToDateReturn 4.12%
    Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel highest return
    Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Sep. 30, 2016
    Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 3.31%
    Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel lowest return
    Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Dec. 31, 2016
    Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (0.19%)
    1 Year rr_AverageAnnualReturnYear01 7.04%
    Since Inception rr_AverageAnnualReturnSinceInception 2.35%
    Inception Date rr_AverageAnnualReturnInceptionDate Jun. 26, 2015
    Vanguard Institutional Target Retirement 2020 Fund | Return After Taxes on Distributions | Institutional Shares  
    Risk/Return: rr_RiskReturnAbstract  
    1 Year rr_AverageAnnualReturnYear01 6.37%
    Since Inception rr_AverageAnnualReturnSinceInception 1.74%
    Inception Date rr_AverageAnnualReturnInceptionDate Jun. 26, 2015
    Vanguard Institutional Target Retirement 2020 Fund | Return After Taxes on Distributions and Sale of Fund Shares | Institutional Shares  
    Risk/Return: rr_RiskReturnAbstract  
    1 Year rr_AverageAnnualReturnYear01 4.22%
    Since Inception rr_AverageAnnualReturnSinceInception 1.63%
    Inception Date rr_AverageAnnualReturnInceptionDate Jun. 26, 2015
    Vanguard Institutional Target Retirement 2020 Fund | MSCI US Broad Market Index  
    Risk/Return: rr_RiskReturnAbstract  
    1 Year rr_AverageAnnualReturnYear01 12.67% [2]
    Since Inception rr_AverageAnnualReturnSinceInception 5.89% [2]
    Inception Date rr_AverageAnnualReturnInceptionDate Jun. 26, 2015 [2]
    Vanguard Institutional Target Retirement 2020 Fund | Bloomberg Barclays U.S. Aggregate Bond Index  
    Risk/Return: rr_RiskReturnAbstract  
    1 Year rr_AverageAnnualReturnYear01 2.65% [2]
    Since Inception rr_AverageAnnualReturnSinceInception 2.60% [2]
    Inception Date rr_AverageAnnualReturnInceptionDate Jun. 26, 2015 [2]
    Vanguard Institutional Target Retirement 2020 Fund | Target 2020 Composite Index  
    Risk/Return: rr_RiskReturnAbstract  
    1 Year rr_AverageAnnualReturnYear01 7.17% [2]
    Since Inception rr_AverageAnnualReturnSinceInception 2.62% [2]
    Inception Date rr_AverageAnnualReturnInceptionDate Jun. 26, 2015 [2]
    [1] The year-to-date return as of the most recent calendar quarter, which ended on March 31, 2017, was 4.12%.
    [2] Comparative Indexes (reflect no deduction for fees, expenses, or taxes)
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    Vanguard Institutional Target Retirement 2025 Fund
    Vanguard Institutional Target Retirement 2025 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)
    Shareholder Fees
    Vanguard Institutional Target Retirement 2025 Fund
    Institutional Shares
    Sales Charge (Load) Imposed on Purchases none
    Purchase Fee none
    Sales Charge (Load) Imposed on Reinvested Dividends none
    Redemption Fee none
    Annual Fund Operating Expenses

    (Expenses that you pay each year as a percentage of the value of your investment)
    Annual Fund Operating Expenses
    Vanguard Institutional Target Retirement 2025 Fund
    Institutional Shares
    Management Fees none
    12b-1 Distribution Fee none
    Other Expenses none
    Acquired Fund Fees and Expenses 0.09%
    Total Annual Fund Operating Expenses 0.09%
    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 $10,000 in the Fund’s shares. This example assumes that the Fund provides a return of 5% each year and that total annual fund operating expenses of the Fund and its underlying funds remain as stated in the preceding table. You would incur these hypothetical expenses whether or not you redeem your investment at the end of the given period. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
    Expense Example
    1 Year
    3 Years
    5 Years
    10 Years
    Vanguard Institutional Target Retirement 2025 Fund | Institutional Shares | USD ($) 9 29 51 115
    Portfolio Turnover
    The Fund may pay transaction costs, such as purchase fees, 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. During the most recent fiscal period, the Fund’s portfolio turnover rate was 5% of the average value of its portfolio.
    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 2025 (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 2025, the Fund’s asset allocation should become similar to that of the Institutional Target Retirement Income Fund. As of March 31, 2017, the Fund’s asset allocation among the underlying funds was as follows:

    Vanguard Total Stock Market Index Fund 38.5%
    Vanguard Total International Stock Index Fund 25.9%
    Vanguard Total Bond Market II Index Fund 25.0%
    Vanguard Total International Bond Index Fund 10.6%

    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 64% 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 any one 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 36% 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 following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows the performance of the Fund in its first full calendar year. The table shows how the average annual total returns of the Fund compare with those of relevant market indexes and a composite stock/bond index, which have investment characteristics similar to those of the Fund. Keep in mind that the Fund’s past performance (before and after taxes) does not indicate how the Fund will perform in the future. Updated performance information is available on our website at vanguard.com/performance or by calling Vanguard toll-free at 800-662-7447.
    Annual Total Returns — Vanguard Institutional Target Retirement 2025 Fund Institutional Shares
    Bar Chart
    [1] The year-to-date return as of the most recent calendar quarter, which ended on March 31, 2017, was 4.62%.
    During the periods shown in the bar chart, the highest return for a calendar quarter was 3.70% (quarter ended September 30, 2016), and the lowest return for a quarter was 0.15% (quarter ended December 31, 2016).
    Average Annual Total Returns for Periods Ended December 31, 2016
    Average Annual Total Returns - Vanguard Institutional Target Retirement 2025 Fund
    1 Year
    Since Inception
    Inception Date
    Institutional Shares 7.56% 2.26% Jun. 26, 2015
    Institutional Shares | Return After Taxes on Distributions 6.90% 1.67% Jun. 26, 2015
    Institutional Shares | Return After Taxes on Distributions and Sale of Fund Shares 4.54% 1.58% Jun. 26, 2015
    MSCI US Broad Market Index [1] 12.67% 5.89% Jun. 26, 2015
    Bloomberg Barclays U.S. Aggregate Bond Index [1] 2.65% 2.60% Jun. 26, 2015
    Target 2025 Composite Index [1] 7.67% 2.53% Jun. 26, 2015
    [1] Comparative Indexes (reflect no deduction for fees, expenses, or taxes)
    Actual after-tax returns depend on your tax situation and may differ from those shown in the preceding table. When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations. Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares may be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder.
    XML 62 R125.htm IDEA: XBRL DOCUMENT v3.7.0.1
    Label Element Value
    Risk/Return: rr_RiskReturnAbstract  
    Registrant Name dei_EntityRegistrantName VANGUARD CHESTER FUNDS
    Prospectus Date rr_ProspectusDate Jul. 12, 2017
    Vanguard Institutional Target Retirement 2025 Fund  
    Risk/Return: rr_RiskReturnAbstract  
    Risk/Return [Heading] rr_RiskReturnHeading Vanguard Institutional Target Retirement 2025 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 may pay transaction costs, such as purchase fees, 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. During the most recent fiscal period, the Fund’s portfolio turnover rate was 5% of the average value of its portfolio.
    Portfolio Turnover, Rate rr_PortfolioTurnoverRate 5.00%
    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 2025 (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 2025, the Fund’s asset allocation should become similar to that of the Institutional Target Retirement Income Fund. As of March 31, 2017, the Fund’s asset allocation among the underlying funds was as follows:

    Vanguard Total Stock Market Index Fund 38.5%
    Vanguard Total International Stock Index Fund 25.9%
    Vanguard Total Bond Market II Index Fund 25.0%
    Vanguard Total International Bond Index Fund 10.6%

    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 64% 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 any one 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 36% 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 following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows the performance of the Fund in its first full calendar year. The table shows how the average annual total returns of the Fund compare with those of relevant market indexes and a composite stock/bond index, which have investment characteristics similar to those of the Fund. Keep in mind that the Fund’s past performance (before and after taxes) does not indicate how the Fund will perform in the future. Updated performance information is available on our website at vanguard.com/performance or by calling Vanguard toll-free at 800-662-7447.
    Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns The following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows the performance of the Fund in its first full calendar year. The table shows how the average annual total returns of the Fund compare with those of relevant market indexes and a composite stock/bond index, which have investment characteristics similar to those of the Fund.
    Performance Availability Phone [Text] rr_PerformanceAvailabilityPhone 800-662-7447
    Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress vanguard.com/performance
    Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture Keep in mind that the Fund’s past performance (before and after taxes) does not indicate how the Fund will perform in the future.
    Bar Chart [Heading] rr_BarChartHeading Annual Total Returns — Vanguard Institutional Target Retirement 2025 Fund Institutional Shares
    Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock During the periods shown in the bar chart, the highest return for a calendar quarter was 3.70% (quarter ended September 30, 2016), and the lowest return for a quarter was 0.15% (quarter ended December 31, 2016).
    Performance Table Heading rr_PerformanceTableHeading Average Annual Total Returns for Periods Ended December 31, 2016
    Performance Table Uses Highest Federal Rate rr_PerformanceTableUsesHighestFederalRate When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations.
    Performance Table Not Relevant to Tax Deferred rr_PerformanceTableNotRelevantToTaxDeferred Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan.
    Performance Table Explanation after Tax Higher rr_PerformanceTableExplanationAfterTaxHigher Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares may be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder.
    Performance Table Narrative rr_PerformanceTableNarrativeTextBlock Actual after-tax returns depend on your tax situation and may differ from those shown in the preceding table. When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations. Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares may be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder.
    Vanguard Institutional Target Retirement 2025 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 0.09%
    Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.09%
    1 Year rr_ExpenseExampleYear01 $ 9
    3 Years rr_ExpenseExampleYear03 29
    5 Years rr_ExpenseExampleYear05 51
    10 Years rr_ExpenseExampleYear10 115
    1 Year rr_ExpenseExampleNoRedemptionYear01 9
    3 Years rr_ExpenseExampleNoRedemptionYear03 29
    5 Years rr_ExpenseExampleNoRedemptionYear05 51
    10 Years rr_ExpenseExampleNoRedemptionYear10 $ 115
    2016 rr_AnnualReturn2016 7.56% [1]
    Year to Date Return, Label rr_YearToDateReturnLabel year-to-date return
    Bar Chart, Year to Date Return, Date rr_BarChartYearToDateReturnDate Mar. 31, 2017
    Bar Chart, Year to Date Return rr_BarChartYearToDateReturn 4.62%
    Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel highest return
    Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Sep. 30, 2016
    Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 3.70%
    Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel lowest return
    Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Dec. 31, 2016
    Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn 0.15%
    1 Year rr_AverageAnnualReturnYear01 7.56%
    Since Inception rr_AverageAnnualReturnSinceInception 2.26%
    Inception Date rr_AverageAnnualReturnInceptionDate Jun. 26, 2015
    Vanguard Institutional Target Retirement 2025 Fund | Return After Taxes on Distributions | Institutional Shares  
    Risk/Return: rr_RiskReturnAbstract  
    1 Year rr_AverageAnnualReturnYear01 6.90%
    Since Inception rr_AverageAnnualReturnSinceInception 1.67%
    Inception Date rr_AverageAnnualReturnInceptionDate Jun. 26, 2015
    Vanguard Institutional Target Retirement 2025 Fund | Return After Taxes on Distributions and Sale of Fund Shares | Institutional Shares  
    Risk/Return: rr_RiskReturnAbstract  
    1 Year rr_AverageAnnualReturnYear01 4.54%
    Since Inception rr_AverageAnnualReturnSinceInception 1.58%
    Inception Date rr_AverageAnnualReturnInceptionDate Jun. 26, 2015
    Vanguard Institutional Target Retirement 2025 Fund | MSCI US Broad Market Index  
    Risk/Return: rr_RiskReturnAbstract  
    1 Year rr_AverageAnnualReturnYear01 12.67% [2]
    Since Inception rr_AverageAnnualReturnSinceInception 5.89% [2]
    Inception Date rr_AverageAnnualReturnInceptionDate Jun. 26, 2015 [2]
    Vanguard Institutional Target Retirement 2025 Fund | Bloomberg Barclays U.S. Aggregate Bond Index  
    Risk/Return: rr_RiskReturnAbstract  
    1 Year rr_AverageAnnualReturnYear01 2.65% [2]
    Since Inception rr_AverageAnnualReturnSinceInception 2.60% [2]
    Inception Date rr_AverageAnnualReturnInceptionDate Jun. 26, 2015 [2]
    Vanguard Institutional Target Retirement 2025 Fund | Target 2025 Composite Index  
    Risk/Return: rr_RiskReturnAbstract  
    1 Year rr_AverageAnnualReturnYear01 7.67% [2]
    Since Inception rr_AverageAnnualReturnSinceInception 2.53% [2]
    Inception Date rr_AverageAnnualReturnInceptionDate Jun. 26, 2015 [2]
    [1] The year-to-date return as of the most recent calendar quarter, which ended on March 31, 2017, was 4.62%.
    [2] Comparative Indexes (reflect no deduction for fees, expenses, or taxes)
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    Vanguard Institutional Target Retirement 2030 Fund
    Vanguard Institutional Target Retirement 2030 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)
    Shareholder Fees
    Vanguard Institutional Target Retirement 2030 Fund
    Institutional Shares
    Sales Charge (Load) Imposed on Purchases none
    Purchase Fee none
    Sales Charge (Load) Imposed on Reinvested Dividends none
    Redemption Fee none
    Annual Fund Operating Expenses

    (Expenses that you pay each year as a percentage of the value of your investment)
    Annual Fund Operating Expenses
    Vanguard Institutional Target Retirement 2030 Fund
    Institutional Shares
    Management Fees none
    12b-1 Distribution Fee none
    Other Expenses none
    Acquired Fund Fees and Expenses 0.09%
    Total Annual Fund Operating Expenses 0.09%
    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 $10,000 in the Fund’s shares. This example assumes that the Fund provides a return of 5% each year and that total annual fund operating expenses of the Fund and its underlying funds remain as stated in the preceding table. You would incur these hypothetical expenses whether or not you redeem your investment at the end of the given period. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
    Expense Example
    1 Year
    3 Years
    5 Years
    10 Years
    Vanguard Institutional Target Retirement 2030 Fund | Institutional Shares | USD ($) 9 29 51 115
    Portfolio Turnover
    The Fund may pay transaction costs, such as purchase fees, 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. During the most recent fiscal period, the Fund’s portfolio turnover rate was 5% of the average value of its portfolio.
    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 2030 (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 2030, the Fund’s asset allocation should become similar to that of the Institutional Target Retirement Income Fund. As of March 31, 2017, the Fund’s asset allocation among the underlying funds was as follows:

    Vanguard Total Stock Market Index Fund 43.0%
    Vanguard Total International Stock Index Fund 28.9%
    Vanguard Total Bond Market II Index Fund 19.7%
    Vanguard Total International Bond Index Fund 8.4%

    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 72% 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 any one 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 28% 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 following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows the performance of the Fund in its first full calendar year. The table shows how the average annual total returns of the Fund compare with those of relevant market indexes and a composite stock/bond index, which have investment characteristics similar to those of the Fund. Keep in mind that the Fund’s past performance (before and after taxes) does not indicate how the Fund will perform in the future. Updated performance information is available on our website at vanguard.com/performance or by calling Vanguard toll-free at 800-662-7447.
    Annual Total Returns — Vanguard Institutional Target Retirement 2030 Fund Institutional Shares
    Bar Chart
    [1] The year-to-date return as of the most recent calendar quarter, which ended on March 31, 2017, was 5.09%.
    During the periods shown in the bar chart, the highest return for a calendar quarter was 4.09% (quarter ended September 30, 2016), and the lowest return for a quarter was 0.44% (quarter ended December 31, 2016).
    Average Annual Total Returns for Periods Ended December 31, 2016
    Average Annual Total Returns - Vanguard Institutional Target Retirement 2030 Fund
    1 Year
    Since Inception
    Inception Date
    Institutional Shares 7.97% 2.05% Jun. 26, 2015
    Institutional Shares | Return After Taxes on Distributions 7.34% 1.49% Jun. 26, 2015
    Institutional Shares | Return After Taxes on Distributions and Sale of Fund Shares 4.80% 1.45% Jun. 26, 2015
    MSCI US Broad Market Index [1] 12.67% 5.89% Jun. 26, 2015
    Bloomberg Barclays U.S. Aggregate Bond Index [1] 2.65% 2.60% Jun. 26, 2015
    Target 2030 Composite Index [1] 8.11% 2.39% Jun. 26, 2015
    [1] Comparative Indexes (reflect no deduction for fees, expenses, or taxes)
    Actual after-tax returns depend on your tax situation and may differ from those shown in the preceding table. When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations. Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares may be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder.
    XML 65 R132.htm IDEA: XBRL DOCUMENT v3.7.0.1
    Label Element Value
    Risk/Return: rr_RiskReturnAbstract  
    Registrant Name dei_EntityRegistrantName VANGUARD CHESTER FUNDS
    Prospectus Date rr_ProspectusDate Jul. 12, 2017
    Vanguard Institutional Target Retirement 2030 Fund  
    Risk/Return: rr_RiskReturnAbstract  
    Risk/Return [Heading] rr_RiskReturnHeading Vanguard Institutional Target Retirement 2030 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 may pay transaction costs, such as purchase fees, 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. During the most recent fiscal period, the Fund’s portfolio turnover rate was 5% of the average value of its portfolio.
    Portfolio Turnover, Rate rr_PortfolioTurnoverRate 5.00%
    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 2030 (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 2030, the Fund’s asset allocation should become similar to that of the Institutional Target Retirement Income Fund. As of March 31, 2017, the Fund’s asset allocation among the underlying funds was as follows:

    Vanguard Total Stock Market Index Fund 43.0%
    Vanguard Total International Stock Index Fund 28.9%
    Vanguard Total Bond Market II Index Fund 19.7%
    Vanguard Total International Bond Index Fund 8.4%

    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 72% 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 any one 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 28% 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 following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows the performance of the Fund in its first full calendar year. The table shows how the average annual total returns of the Fund compare with those of relevant market indexes and a composite stock/bond index, which have investment characteristics similar to those of the Fund. Keep in mind that the Fund’s past performance (before and after taxes) does not indicate how the Fund will perform in the future. Updated performance information is available on our website at vanguard.com/performance or by calling Vanguard toll-free at 800-662-7447.
    Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns The following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows the performance of the Fund in its first full calendar year. The table shows how the average annual total returns of the Fund compare with those of relevant market indexes and a composite stock/bond index, which have investment characteristics similar to those of the Fund.
    Performance Availability Phone [Text] rr_PerformanceAvailabilityPhone 800-662-7447
    Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress vanguard.com/performance
    Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture Keep in mind that the Fund’s past performance (before and after taxes) does not indicate how the Fund will perform in the future.
    Bar Chart [Heading] rr_BarChartHeading Annual Total Returns — Vanguard Institutional Target Retirement 2030 Fund Institutional Shares
    Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock During the periods shown in the bar chart, the highest return for a calendar quarter was 4.09% (quarter ended September 30, 2016), and the lowest return for a quarter was 0.44% (quarter ended December 31, 2016).
    Performance Table Heading rr_PerformanceTableHeading Average Annual Total Returns for Periods Ended December 31, 2016
    Performance Table Uses Highest Federal Rate rr_PerformanceTableUsesHighestFederalRate When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations.
    Performance Table Not Relevant to Tax Deferred rr_PerformanceTableNotRelevantToTaxDeferred Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan.
    Performance Table Explanation after Tax Higher rr_PerformanceTableExplanationAfterTaxHigher Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares may be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder.
    Performance Table Narrative rr_PerformanceTableNarrativeTextBlock Actual after-tax returns depend on your tax situation and may differ from those shown in the preceding table. When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations. Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares may be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder.
    Vanguard Institutional Target Retirement 2030 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 0.09%
    Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.09%
    1 Year rr_ExpenseExampleYear01 $ 9
    3 Years rr_ExpenseExampleYear03 29
    5 Years rr_ExpenseExampleYear05 51
    10 Years rr_ExpenseExampleYear10 115
    1 Year rr_ExpenseExampleNoRedemptionYear01 9
    3 Years rr_ExpenseExampleNoRedemptionYear03 29
    5 Years rr_ExpenseExampleNoRedemptionYear05 51
    10 Years rr_ExpenseExampleNoRedemptionYear10 $ 115
    2016 rr_AnnualReturn2016 7.97% [1]
    Year to Date Return, Label rr_YearToDateReturnLabel year-to-date return
    Bar Chart, Year to Date Return, Date rr_BarChartYearToDateReturnDate Mar. 31, 2017
    Bar Chart, Year to Date Return rr_BarChartYearToDateReturn 5.09%
    Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel highest return
    Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Sep. 30, 2016
    Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 4.09%
    Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel lowest return
    Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Dec. 31, 2016
    Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn 0.44%
    1 Year rr_AverageAnnualReturnYear01 7.97%
    Since Inception rr_AverageAnnualReturnSinceInception 2.05%
    Inception Date rr_AverageAnnualReturnInceptionDate Jun. 26, 2015
    Vanguard Institutional Target Retirement 2030 Fund | Return After Taxes on Distributions | Institutional Shares  
    Risk/Return: rr_RiskReturnAbstract  
    1 Year rr_AverageAnnualReturnYear01 7.34%
    Since Inception rr_AverageAnnualReturnSinceInception 1.49%
    Inception Date rr_AverageAnnualReturnInceptionDate Jun. 26, 2015
    Vanguard Institutional Target Retirement 2030 Fund | Return After Taxes on Distributions and Sale of Fund Shares | Institutional Shares  
    Risk/Return: rr_RiskReturnAbstract  
    1 Year rr_AverageAnnualReturnYear01 4.80%
    Since Inception rr_AverageAnnualReturnSinceInception 1.45%
    Inception Date rr_AverageAnnualReturnInceptionDate Jun. 26, 2015
    Vanguard Institutional Target Retirement 2030 Fund | MSCI US Broad Market Index  
    Risk/Return: rr_RiskReturnAbstract  
    1 Year rr_AverageAnnualReturnYear01 12.67% [2]
    Since Inception rr_AverageAnnualReturnSinceInception 5.89% [2]
    Inception Date rr_AverageAnnualReturnInceptionDate Jun. 26, 2015 [2]
    Vanguard Institutional Target Retirement 2030 Fund | Bloomberg Barclays U.S. Aggregate Bond Index  
    Risk/Return: rr_RiskReturnAbstract  
    1 Year rr_AverageAnnualReturnYear01 2.65% [2]
    Since Inception rr_AverageAnnualReturnSinceInception 2.60% [2]
    Inception Date rr_AverageAnnualReturnInceptionDate Jun. 26, 2015 [2]
    Vanguard Institutional Target Retirement 2030 Fund | Target 2030 Composite Index  
    Risk/Return: rr_RiskReturnAbstract  
    1 Year rr_AverageAnnualReturnYear01 8.11% [2]
    Since Inception rr_AverageAnnualReturnSinceInception 2.39% [2]
    Inception Date rr_AverageAnnualReturnInceptionDate Jun. 26, 2015 [2]
    [1] The year-to-date return as of the most recent calendar quarter, which ended on March 31, 2017, was 5.09%.
    [2] Comparative Indexes (reflect no deduction for fees, expenses, or taxes)
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    Vanguard Institutional Target Retirement 2035 Fund
    Vanguard Institutional Target Retirement 2035 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)
    Shareholder Fees
    Vanguard Institutional Target Retirement 2035 Fund
    Institutional Shares
    Sales Charge (Load) Imposed on Purchases none
    Purchase Fee none
    Sales Charge (Load) Imposed on Reinvested Dividends none
    Redemption Fee none
    Annual Fund Operating Expenses

    (Expenses that you pay each year as a percentage of the value of your investment)
    Annual Fund Operating Expenses
    Vanguard Institutional Target Retirement 2035 Fund
    Institutional Shares
    Management Fees none
    12b-1 Distribution Fee none
    Other Expenses none
    Acquired Fund Fees and Expenses 0.09%
    Total Annual Fund Operating Expenses 0.09%
    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 $10,000 in the Fund’s shares. This example assumes that the Fund provides a return of 5% each year and that total annual fund operating expenses of the Fund and its underlying funds remain as stated in the preceding table. You would incur these hypothetical expenses whether or not you redeem your investment at the end of the given period. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
    Expense Example
    1 Year
    3 Years
    5 Years
    10 Years
    Vanguard Institutional Target Retirement 2035 Fund | Institutional Shares | USD ($) 9 29 51 115
    Portfolio Turnover
    The Fund may pay transaction costs, such as purchase fees, 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. During the most recent fiscal period, the Fund’s portfolio turnover rate was 5% of the average value of its portfolio.
    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 2035 (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 2035, the Fund’s asset allocation should become similar to that of the Institutional Target Retirement Income Fund. As of March 31, 2017, the Fund’s asset allocation among the underlying funds was as follows:

    Vanguard Total Stock Market Index Fund 47.5%
    Vanguard Total International Stock Index Fund 31.9%
    Vanguard Total Bond Market II Index Fund 14.5%
    Vanguard Total International Bond Index Fund 6.1%

    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 79% 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 any one 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 21% 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 following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows the performance of the Fund in its first full calendar year. The table shows how the average annual total returns of the Fund compare with those of relevant market indexes and a composite stock/bond index, which have investment characteristics similar to those of the Fund. Keep in mind that the Fund’s past performance (before and after taxes) does not indicate how the Fund will perform in the future. Updated performance information is available on our website at vanguard.com/performance or by calling Vanguard toll-free at 800-662-7447.
    Annual Total Returns — Vanguard Institutional Target Retirement 2035 Fund Institutional Shares
    Bar Chart
    [1] The year-to-date return as of the most recent calendar quarter, which ended on March 31, 2017, was 5.55%.
    During the periods shown in the bar chart, the highest return for a calendar quarter was 4.39% (quarter ended September 30, 2016), and the lowest return for a quarter was 0.83% (quarter ended December 31, 2016).
    Average Annual Total Returns for Periods Ended December 31, 2016
    Average Annual Total Returns - Vanguard Institutional Target Retirement 2035 Fund
    1 Year
    Since Inception
    Inception Date
    Institutional Shares 8.39% 1.89% Jun. 26, 2015
    Institutional Shares | Return After Taxes on Distributions 7.79% 1.35% Jun. 26, 2015
    Institutional Shares | Return After Taxes on Distributions and Sale of Fund Shares 5.06% 1.35% Jun. 26, 2015
    MSCI US Broad Market Index [1] 12.67% 5.89% Jun. 26, 2015
    Bloomberg Barclays U.S. Aggregate Bond Index [1] 2.65% 2.60% Jun. 26, 2015
    Target 2035 Composite Index [1] 8.55% 2.23% Jun. 26, 2015
    [1] Comparative Indexes (reflect no deduction for fees, expenses, or taxes)
    Actual after-tax returns depend on your tax situation and may differ from those shown in the preceding table. When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations. Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares may be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder.
    XML 68 R139.htm IDEA: XBRL DOCUMENT v3.7.0.1
    Label Element Value
    Risk/Return: rr_RiskReturnAbstract  
    Registrant Name dei_EntityRegistrantName VANGUARD CHESTER FUNDS
    Prospectus Date rr_ProspectusDate Jul. 12, 2017
    Vanguard Institutional Target Retirement 2035 Fund  
    Risk/Return: rr_RiskReturnAbstract  
    Risk/Return [Heading] rr_RiskReturnHeading Vanguard Institutional Target Retirement 2035 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 may pay transaction costs, such as purchase fees, 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. During the most recent fiscal period, the Fund’s portfolio turnover rate was 5% of the average value of its portfolio.
    Portfolio Turnover, Rate rr_PortfolioTurnoverRate 5.00%
    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 2035 (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 2035, the Fund’s asset allocation should become similar to that of the Institutional Target Retirement Income Fund. As of March 31, 2017, the Fund’s asset allocation among the underlying funds was as follows:

    Vanguard Total Stock Market Index Fund 47.5%
    Vanguard Total International Stock Index Fund 31.9%
    Vanguard Total Bond Market II Index Fund 14.5%
    Vanguard Total International Bond Index Fund 6.1%

    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 79% 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 any one 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 21% 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 following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows the performance of the Fund in its first full calendar year. The table shows how the average annual total returns of the Fund compare with those of relevant market indexes and a composite stock/bond index, which have investment characteristics similar to those of the Fund. Keep in mind that the Fund’s past performance (before and after taxes) does not indicate how the Fund will perform in the future. Updated performance information is available on our website at vanguard.com/performance or by calling Vanguard toll-free at 800-662-7447.
    Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns The following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows the performance of the Fund in its first full calendar year. The table shows how the average annual total returns of the Fund compare with those of relevant market indexes and a composite stock/bond index, which have investment characteristics similar to those of the Fund.
    Performance Availability Phone [Text] rr_PerformanceAvailabilityPhone 800-662-7447
    Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress vanguard.com/performance
    Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture Keep in mind that the Fund’s past performance (before and after taxes) does not indicate how the Fund will perform in the future.
    Bar Chart [Heading] rr_BarChartHeading Annual Total Returns — Vanguard Institutional Target Retirement 2035 Fund Institutional Shares
    Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock During the periods shown in the bar chart, the highest return for a calendar quarter was 4.39% (quarter ended September 30, 2016), and the lowest return for a quarter was 0.83% (quarter ended December 31, 2016).
    Performance Table Heading rr_PerformanceTableHeading Average Annual Total Returns for Periods Ended December 31, 2016
    Performance Table Uses Highest Federal Rate rr_PerformanceTableUsesHighestFederalRate When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations.
    Performance Table Not Relevant to Tax Deferred rr_PerformanceTableNotRelevantToTaxDeferred Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan.
    Performance Table Explanation after Tax Higher rr_PerformanceTableExplanationAfterTaxHigher Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares may be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder.
    Performance Table Narrative rr_PerformanceTableNarrativeTextBlock Actual after-tax returns depend on your tax situation and may differ from those shown in the preceding table. When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations. Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares may be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder.
    Vanguard Institutional Target Retirement 2035 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 0.09%
    Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.09%
    1 Year rr_ExpenseExampleYear01 $ 9
    3 Years rr_ExpenseExampleYear03 29
    5 Years rr_ExpenseExampleYear05 51
    10 Years rr_ExpenseExampleYear10 115
    1 Year rr_ExpenseExampleNoRedemptionYear01 9
    3 Years rr_ExpenseExampleNoRedemptionYear03 29
    5 Years rr_ExpenseExampleNoRedemptionYear05 51
    10 Years rr_ExpenseExampleNoRedemptionYear10 $ 115
    2016 rr_AnnualReturn2016 8.39% [1]
    Year to Date Return, Label rr_YearToDateReturnLabel year-to-date return
    Bar Chart, Year to Date Return, Date rr_BarChartYearToDateReturnDate Mar. 31, 2017
    Bar Chart, Year to Date Return rr_BarChartYearToDateReturn 5.55%
    Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel highest return
    Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Sep. 30, 2016
    Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 4.39%
    Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel lowest return
    Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Dec. 31, 2016
    Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn 0.83%
    1 Year rr_AverageAnnualReturnYear01 8.39%
    Since Inception rr_AverageAnnualReturnSinceInception 1.89%
    Inception Date rr_AverageAnnualReturnInceptionDate Jun. 26, 2015
    Vanguard Institutional Target Retirement 2035 Fund | Return After Taxes on Distributions | Institutional Shares  
    Risk/Return: rr_RiskReturnAbstract  
    1 Year rr_AverageAnnualReturnYear01 7.79%
    Since Inception rr_AverageAnnualReturnSinceInception 1.35%
    Inception Date rr_AverageAnnualReturnInceptionDate Jun. 26, 2015
    Vanguard Institutional Target Retirement 2035 Fund | Return After Taxes on Distributions and Sale of Fund Shares | Institutional Shares  
    Risk/Return: rr_RiskReturnAbstract  
    1 Year rr_AverageAnnualReturnYear01 5.06%
    Since Inception rr_AverageAnnualReturnSinceInception 1.35%
    Inception Date rr_AverageAnnualReturnInceptionDate Jun. 26, 2015
    Vanguard Institutional Target Retirement 2035 Fund | MSCI US Broad Market Index  
    Risk/Return: rr_RiskReturnAbstract  
    1 Year rr_AverageAnnualReturnYear01 12.67% [2]
    Since Inception rr_AverageAnnualReturnSinceInception 5.89% [2]
    Inception Date rr_AverageAnnualReturnInceptionDate Jun. 26, 2015 [2]
    Vanguard Institutional Target Retirement 2035 Fund | Bloomberg Barclays U.S. Aggregate Bond Index  
    Risk/Return: rr_RiskReturnAbstract  
    1 Year rr_AverageAnnualReturnYear01 2.65% [2]
    Since Inception rr_AverageAnnualReturnSinceInception 2.60% [2]
    Inception Date rr_AverageAnnualReturnInceptionDate Jun. 26, 2015 [2]
    Vanguard Institutional Target Retirement 2035 Fund | Target 2035 Composite Index  
    Risk/Return: rr_RiskReturnAbstract  
    1 Year rr_AverageAnnualReturnYear01 8.55% [2]
    Since Inception rr_AverageAnnualReturnSinceInception 2.23% [2]
    Inception Date rr_AverageAnnualReturnInceptionDate Jun. 26, 2015 [2]
    [1] The year-to-date return as of the most recent calendar quarter, which ended on March 31, 2017, was 5.55%.
    [2] Comparative Indexes (reflect no deduction for fees, expenses, or taxes)
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    Vanguard Institutional Target Retirement 2040 Fund
    Vanguard Institutional Target Retirement 2040 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)
    Shareholder Fees
    Vanguard Institutional Target Retirement 2040 Fund
    Institutional Shares
    Sales Charge (Load) Imposed on Purchases none
    Purchase Fee none
    Sales Charge (Load) Imposed on Reinvested Dividends none
    Redemption Fee none
    Annual Fund Operating Expenses

    (Expenses that you pay each year as a percentage of the value of your investment)
    Annual Fund Operating Expenses
    Vanguard Institutional Target Retirement 2040 Fund
    Institutional Shares
    Management Fees none
    12b-1 Distribution Fee none
    Other Expenses none
    Acquired Fund Fees and Expenses 0.09%
    Total Annual Fund Operating Expenses 0.09%
    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 $10,000 in the Fund’s shares. This example assumes that the Fund provides a return of 5% each year and that total annual fund operating expenses of the Fund and its underlying funds remain as stated in the preceding table. You would incur these hypothetical expenses whether or not you redeem your investment at the end of the given period. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
    Expense Example
    1 Year
    3 Years
    5 Years
    10 Years
    Vanguard Institutional Target Retirement 2040 Fund | Institutional Shares | USD ($) 9 29 51 115
    Portfolio Turnover
    The Fund may pay transaction costs, such as purchase fees, 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. During the most recent fiscal period, the Fund’s portfolio turnover rate was 5% of the average value of its portfolio.
    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 2040 (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 2040, the Fund’s asset allocation should become similar to that of the Institutional Target Retirement Income Fund. As of March 31, 2017, the Fund’s asset allocation among the underlying funds was as follows:

    Vanguard Total Stock Market Index Fund 52.1%
    Vanguard Total International Stock Index Fund 34.8%
    Vanguard Total Bond Market II Index Fund 9.2%
    Vanguard Total International Bond Index Fund 3.9%

    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 87% 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 any one 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 13% 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 following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows the performance of the Fund in its first full calendar year. The table shows how the average annual total returns of the Fund compare with those of relevant market indexes and a composite stock/bond index, which have investment characteristics similar to those of the Fund. Keep in mind that the Fund’s past performance (before and after taxes) does not indicate how the Fund will perform in the future. Updated performance information is available on our website at vanguard.com/performance or by calling Vanguard toll-free at 800-662-7447.
    Annual Total Returns — Vanguard Institutional Target Retirement 2040 Fund Institutional Shares
    Bar Chart
    [1] The year-to-date return as of the most recent calendar quarter, which ended on March 31, 2017, was 6.02%.
    During the periods shown in the bar chart, the highest return for a calendar quarter was 4.74% (quarter ended September 30, 2016), and the lowest return for a quarter was 0.86% (quarter ended March 31, 2016).
    Average Annual Total Returns for Periods Ended December 31, 2016
    Average Annual Total Returns - Vanguard Institutional Target Retirement 2040 Fund
    1 Year
    Since Inception
    Inception Date
    Institutional Shares 8.81% 1.67% Jun. 26, 2015
    Institutional Shares | Return After Taxes on Distributions 8.23% 1.17% Jun. 26, 2015
    Institutional Shares | Return After Taxes on Distributions and Sale of Fund Shares 5.33% 1.21% Jun. 26, 2015
    MSCI US Broad Market Index [1] 12.67% 5.89% Jun. 26, 2015
    Bloomberg Barclays U.S. Aggregate Bond Index [1] 2.65% 2.60% Jun. 26, 2015
    Target 2040 Composite Index [1] 8.98% 2.07% Jun. 26, 2015
    [1] Comparative Indexes (reflect no deduction for fees, expenses, or taxes)
    Actual after-tax returns depend on your tax situation and may differ from those shown in the preceding table. When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations. Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares may be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder.
    XML 71 R146.htm IDEA: XBRL DOCUMENT v3.7.0.1
    Label Element Value
    Risk/Return: rr_RiskReturnAbstract  
    Registrant Name dei_EntityRegistrantName VANGUARD CHESTER FUNDS
    Prospectus Date rr_ProspectusDate Jul. 12, 2017
    Vanguard Institutional Target Retirement 2040 Fund  
    Risk/Return: rr_RiskReturnAbstract  
    Risk/Return [Heading] rr_RiskReturnHeading Vanguard Institutional Target Retirement 2040 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 may pay transaction costs, such as purchase fees, 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. During the most recent fiscal period, the Fund’s portfolio turnover rate was 5% of the average value of its portfolio.
    Portfolio Turnover, Rate rr_PortfolioTurnoverRate 5.00%
    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 2040 (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 2040, the Fund’s asset allocation should become similar to that of the Institutional Target Retirement Income Fund. As of March 31, 2017, the Fund’s asset allocation among the underlying funds was as follows:

    Vanguard Total Stock Market Index Fund 52.1%
    Vanguard Total International Stock Index Fund 34.8%
    Vanguard Total Bond Market II Index Fund 9.2%
    Vanguard Total International Bond Index Fund 3.9%

    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 87% 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 any one 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 13% 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 following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows the performance of the Fund in its first full calendar year. The table shows how the average annual total returns of the Fund compare with those of relevant market indexes and a composite stock/bond index, which have investment characteristics similar to those of the Fund. Keep in mind that the Fund’s past performance (before and after taxes) does not indicate how the Fund will perform in the future. Updated performance information is available on our website at vanguard.com/performance or by calling Vanguard toll-free at 800-662-7447.
    Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns The following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows the performance of the Fund in its first full calendar year. The table shows how the average annual total returns of the Fund compare with those of relevant market indexes and a composite stock/bond index, which have investment characteristics similar to those of the Fund.
    Performance Availability Phone [Text] rr_PerformanceAvailabilityPhone 800-662-7447
    Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress vanguard.com/performance
    Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture Keep in mind that the Fund’s past performance (before and after taxes) does not indicate how the Fund will perform in the future.
    Bar Chart [Heading] rr_BarChartHeading Annual Total Returns — Vanguard Institutional Target Retirement 2040 Fund Institutional Shares
    Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock During the periods shown in the bar chart, the highest return for a calendar quarter was 4.74% (quarter ended September 30, 2016), and the lowest return for a quarter was 0.86% (quarter ended March 31, 2016).
    Performance Table Heading rr_PerformanceTableHeading Average Annual Total Returns for Periods Ended December 31, 2016
    Performance Table Uses Highest Federal Rate rr_PerformanceTableUsesHighestFederalRate When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations.
    Performance Table Not Relevant to Tax Deferred rr_PerformanceTableNotRelevantToTaxDeferred Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan.
    Performance Table Explanation after Tax Higher rr_PerformanceTableExplanationAfterTaxHigher Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares may be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder.
    Performance Table Narrative rr_PerformanceTableNarrativeTextBlock Actual after-tax returns depend on your tax situation and may differ from those shown in the preceding table. When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations. Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares may be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder.
    Vanguard Institutional Target Retirement 2040 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 0.09%
    Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.09%
    1 Year rr_ExpenseExampleYear01 $ 9
    3 Years rr_ExpenseExampleYear03 29
    5 Years rr_ExpenseExampleYear05 51
    10 Years rr_ExpenseExampleYear10 115
    1 Year rr_ExpenseExampleNoRedemptionYear01 9
    3 Years rr_ExpenseExampleNoRedemptionYear03 29
    5 Years rr_ExpenseExampleNoRedemptionYear05 51
    10 Years rr_ExpenseExampleNoRedemptionYear10 $ 115
    2016 rr_AnnualReturn2016 8.81% [1]
    Year to Date Return, Label rr_YearToDateReturnLabel year-to-date return
    Bar Chart, Year to Date Return, Date rr_BarChartYearToDateReturnDate Mar. 31, 2017
    Bar Chart, Year to Date Return rr_BarChartYearToDateReturn 6.02%
    Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel highest return
    Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Sep. 30, 2016
    Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 4.74%
    Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel lowest return
    Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Mar. 31, 2016
    Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn 0.86%
    1 Year rr_AverageAnnualReturnYear01 8.81%
    Since Inception rr_AverageAnnualReturnSinceInception 1.67%
    Inception Date rr_AverageAnnualReturnInceptionDate Jun. 26, 2015
    Vanguard Institutional Target Retirement 2040 Fund | Return After Taxes on Distributions | Institutional Shares  
    Risk/Return: rr_RiskReturnAbstract  
    1 Year rr_AverageAnnualReturnYear01 8.23%
    Since Inception rr_AverageAnnualReturnSinceInception 1.17%
    Inception Date rr_AverageAnnualReturnInceptionDate Jun. 26, 2015
    Vanguard Institutional Target Retirement 2040 Fund | Return After Taxes on Distributions and Sale of Fund Shares | Institutional Shares  
    Risk/Return: rr_RiskReturnAbstract  
    1 Year rr_AverageAnnualReturnYear01 5.33%
    Since Inception rr_AverageAnnualReturnSinceInception 1.21%
    Inception Date rr_AverageAnnualReturnInceptionDate Jun. 26, 2015
    Vanguard Institutional Target Retirement 2040 Fund | MSCI US Broad Market Index  
    Risk/Return: rr_RiskReturnAbstract  
    1 Year rr_AverageAnnualReturnYear01 12.67% [2]
    Since Inception rr_AverageAnnualReturnSinceInception 5.89% [2]
    Inception Date rr_AverageAnnualReturnInceptionDate Jun. 26, 2015 [2]
    Vanguard Institutional Target Retirement 2040 Fund | Bloomberg Barclays U.S. Aggregate Bond Index  
    Risk/Return: rr_RiskReturnAbstract  
    1 Year rr_AverageAnnualReturnYear01 2.65% [2]
    Since Inception rr_AverageAnnualReturnSinceInception 2.60% [2]
    Inception Date rr_AverageAnnualReturnInceptionDate Jun. 26, 2015 [2]
    Vanguard Institutional Target Retirement 2040 Fund | Target 2040 Composite Index  
    Risk/Return: rr_RiskReturnAbstract  
    1 Year rr_AverageAnnualReturnYear01 8.98% [2]
    Since Inception rr_AverageAnnualReturnSinceInception 2.07% [2]
    Inception Date rr_AverageAnnualReturnInceptionDate Jun. 26, 2015 [2]
    [1] The year-to-date return as of the most recent calendar quarter, which ended on March 31, 2017, was 6.02%.
    [2] Comparative Indexes (reflect no deduction for fees, expenses, or taxes)
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    Vanguard Institutional Target Retirement 2045 Fund
    Vanguard Institutional Target Retirement 2045 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)
    Shareholder Fees
    Vanguard Institutional Target Retirement 2045 Fund
    Institutional Shares
    Sales Charge (Load) Imposed on Purchases none
    Purchase Fee none
    Sales Charge (Load) Imposed on Reinvested Dividends none
    Redemption Fee none
    Annual Fund Operating Expenses

    (Expenses that you pay each year as a percentage of the value of your investment)
    Annual Fund Operating Expenses
    Vanguard Institutional Target Retirement 2045 Fund
    Institutional Shares
    Management Fees none
    12b-1 Distribution Fee none
    Other Expenses none
    Acquired Fund Fees and Expenses 0.09%
    Total Annual Fund Operating Expenses 0.09%
    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 $10,000 in the Fund’s shares. This example assumes that the Fund provides a return of 5% each year and that total annual fund operating expenses of the Fund and its underlying funds remain as stated in the preceding table. You would incur these hypothetical expenses whether or not you redeem your investment at the end of the given period. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
    Expense Example
    1 Year
    3 Years
    5 Years
    10 Years
    Vanguard Institutional Target Retirement 2045 Fund | Institutional Shares | USD ($) 9 29 51 115
    Portfolio Turnover
    The Fund may pay transaction costs, such as purchase fees, 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. During the most recent fiscal period, the Fund’s portfolio turnover rate was 4% of the average value of its portfolio.
    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 2045 (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 2045, the Fund’s asset allocation should become similar to that of the Institutional Target Retirement Income Fund. As of March 31, 2017, the Fund’s asset allocation among the underlying funds was as follows:

    Vanguard Total Stock Market Index Fund 54.1%
    Vanguard Total International Stock Index Fund 35.8%
    Vanguard Total Bond Market II Index Fund 7.1%
    Vanguard Total International Bond Index Fund 3.0%

    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 any one 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 following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows the performance of the Fund in its first full calendar year. The table shows how the average annual total returns of the Fund compare with those of relevant market indexes and a composite stock/bond index, which have investment characteristics similar to those of the Fund. Keep in mind that the Fund’s past performance (before and after taxes) does not indicate how the Fund will perform in the future. Updated performance information is available on our website at vanguard.com/performance or by calling Vanguard toll-free at 800-662-7447.
    Annual Total Returns — Vanguard Institutional Target Retirement 2045 Fund Institutional Shares
    Bar Chart
    [1] The year-to-date return as of the most recent calendar quarter, which ended on March 31, 2017, was 6.21%.
    During the periods shown in the bar chart, the highest return for a calendar quarter was 4.85% (quarter ended September 30, 2016), and the lowest return for a quarter was 0.80% (quarter ended March 31, 2016).
    Average Annual Total Returns for Periods Ended December 31, 2016
    Average Annual Total Returns - Vanguard Institutional Target Retirement 2045 Fund
    1 Year
    Since Inception
    Inception Date
    Institutional Shares 8.94% 1.76% Jun. 26, 2015
    Institutional Shares | Return After Taxes on Distributions 8.38% 1.26% Jun. 26, 2015
    Institutional Shares | Return After Taxes on Distributions and Sale of Fund Shares 5.41% 1.28% Jun. 26, 2015
    MSCI US Broad Market Index [1] 12.67% 5.89% Jun. 26, 2015
    Bloomberg Barclays U.S. Aggregate Bond Index [1] 2.65% 2.60% Jun. 26, 2015
    Target 2045 Composite Index [1] 9.13% 2.16% Jun. 26, 2015
    [1] Comparative Indexes (reflect no deduction for fees, expenses, or taxes)
    Actual after-tax returns depend on your tax situation and may differ from those shown in the preceding table. When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations. Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares may be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder.
    XML 74 R153.htm IDEA: XBRL DOCUMENT v3.7.0.1
    Label Element Value
    Risk/Return: rr_RiskReturnAbstract  
    Registrant Name dei_EntityRegistrantName VANGUARD CHESTER FUNDS
    Prospectus Date rr_ProspectusDate Jul. 12, 2017
    Vanguard Institutional Target Retirement 2045 Fund  
    Risk/Return: rr_RiskReturnAbstract  
    Risk/Return [Heading] rr_RiskReturnHeading Vanguard Institutional Target Retirement 2045 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 may pay transaction costs, such as purchase fees, 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. During the most recent fiscal period, the Fund’s portfolio turnover rate was 4% of the average value of its portfolio.
    Portfolio Turnover, Rate rr_PortfolioTurnoverRate 4.00%
    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 2045 (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 2045, the Fund’s asset allocation should become similar to that of the Institutional Target Retirement Income Fund. As of March 31, 2017, the Fund’s asset allocation among the underlying funds was as follows:

    Vanguard Total Stock Market Index Fund 54.1%
    Vanguard Total International Stock Index Fund 35.8%
    Vanguard Total Bond Market II Index Fund 7.1%
    Vanguard Total International Bond Index Fund 3.0%

    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 any one 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 following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows the performance of the Fund in its first full calendar year. The table shows how the average annual total returns of the Fund compare with those of relevant market indexes and a composite stock/bond index, which have investment characteristics similar to those of the Fund. Keep in mind that the Fund’s past performance (before and after taxes) does not indicate how the Fund will perform in the future. Updated performance information is available on our website at vanguard.com/performance or by calling Vanguard toll-free at 800-662-7447.
    Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns The following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows the performance of the Fund in its first full calendar year. The table shows how the average annual total returns of the Fund compare with those of relevant market indexes and a composite stock/bond index, which have investment characteristics similar to those of the Fund.
    Performance Availability Phone [Text] rr_PerformanceAvailabilityPhone 800-662-7447
    Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress vanguard.com/performance
    Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture Keep in mind that the Fund’s past performance (before and after taxes) does not indicate how the Fund will perform in the future.
    Bar Chart [Heading] rr_BarChartHeading Annual Total Returns — Vanguard Institutional Target Retirement 2045 Fund Institutional Shares
    Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock During the periods shown in the bar chart, the highest return for a calendar quarter was 4.85% (quarter ended September 30, 2016), and the lowest return for a quarter was 0.80% (quarter ended March 31, 2016).
    Performance Table Heading rr_PerformanceTableHeading Average Annual Total Returns for Periods Ended December 31, 2016
    Performance Table Uses Highest Federal Rate rr_PerformanceTableUsesHighestFederalRate When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations.
    Performance Table Not Relevant to Tax Deferred rr_PerformanceTableNotRelevantToTaxDeferred Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan.
    Performance Table Explanation after Tax Higher rr_PerformanceTableExplanationAfterTaxHigher Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares may be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder.
    Performance Table Narrative rr_PerformanceTableNarrativeTextBlock Actual after-tax returns depend on your tax situation and may differ from those shown in the preceding table. When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations. Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares may be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder.
    Vanguard Institutional Target Retirement 2045 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 0.09%
    Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.09%
    1 Year rr_ExpenseExampleYear01 $ 9
    3 Years rr_ExpenseExampleYear03 29
    5 Years rr_ExpenseExampleYear05 51
    10 Years rr_ExpenseExampleYear10 115
    1 Year rr_ExpenseExampleNoRedemptionYear01 9
    3 Years rr_ExpenseExampleNoRedemptionYear03 29
    5 Years rr_ExpenseExampleNoRedemptionYear05 51
    10 Years rr_ExpenseExampleNoRedemptionYear10 $ 115
    2016 rr_AnnualReturn2016 8.94% [1]
    Year to Date Return, Label rr_YearToDateReturnLabel year-to-date return
    Bar Chart, Year to Date Return, Date rr_BarChartYearToDateReturnDate Mar. 31, 2017
    Bar Chart, Year to Date Return rr_BarChartYearToDateReturn 6.21%
    Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel highest return
    Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Sep. 30, 2016
    Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 4.85%
    Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel lowest return
    Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Mar. 31, 2016
    Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn 0.80%
    1 Year rr_AverageAnnualReturnYear01 8.94%
    Since Inception rr_AverageAnnualReturnSinceInception 1.76%
    Inception Date rr_AverageAnnualReturnInceptionDate Jun. 26, 2015
    Vanguard Institutional Target Retirement 2045 Fund | Return After Taxes on Distributions | Institutional Shares  
    Risk/Return: rr_RiskReturnAbstract  
    1 Year rr_AverageAnnualReturnYear01 8.38%
    Since Inception rr_AverageAnnualReturnSinceInception 1.26%
    Inception Date rr_AverageAnnualReturnInceptionDate Jun. 26, 2015
    Vanguard Institutional Target Retirement 2045 Fund | Return After Taxes on Distributions and Sale of Fund Shares | Institutional Shares  
    Risk/Return: rr_RiskReturnAbstract  
    1 Year rr_AverageAnnualReturnYear01 5.41%
    Since Inception rr_AverageAnnualReturnSinceInception 1.28%
    Inception Date rr_AverageAnnualReturnInceptionDate Jun. 26, 2015
    Vanguard Institutional Target Retirement 2045 Fund | MSCI US Broad Market Index  
    Risk/Return: rr_RiskReturnAbstract  
    1 Year rr_AverageAnnualReturnYear01 12.67% [2]
    Since Inception rr_AverageAnnualReturnSinceInception 5.89% [2]
    Inception Date rr_AverageAnnualReturnInceptionDate Jun. 26, 2015 [2]
    Vanguard Institutional Target Retirement 2045 Fund | Bloomberg Barclays U.S. Aggregate Bond Index  
    Risk/Return: rr_RiskReturnAbstract  
    1 Year rr_AverageAnnualReturnYear01 2.65% [2]
    Since Inception rr_AverageAnnualReturnSinceInception 2.60% [2]
    Inception Date rr_AverageAnnualReturnInceptionDate Jun. 26, 2015 [2]
    Vanguard Institutional Target Retirement 2045 Fund | Target 2045 Composite Index  
    Risk/Return: rr_RiskReturnAbstract  
    1 Year rr_AverageAnnualReturnYear01 9.13% [2]
    Since Inception rr_AverageAnnualReturnSinceInception 2.16% [2]
    Inception Date rr_AverageAnnualReturnInceptionDate Jun. 26, 2015 [2]
    [1] The year-to-date return as of the most recent calendar quarter, which ended on March 31, 2017, was 6.21%.
    [2] Comparative Indexes (reflect no deduction for fees, expenses, or taxes)
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    Vanguard Institutional Target Retirement 2050 Fund
    Vanguard Institutional Target Retirement 2050 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)
    Shareholder Fees
    Vanguard Institutional Target Retirement 2050 Fund
    Institutional Shares
    Sales Charge (Load) Imposed on Purchases none
    Purchase Fee none
    Sales Charge (Load) Imposed on Reinvested Dividends none
    Redemption Fee none
    Annual Fund Operating Expenses

    (Expenses that you pay each year as a percentage of the value of your investment)
    Annual Fund Operating Expenses
    Vanguard Institutional Target Retirement 2050 Fund
    Institutional Shares
    Management Fees none
    12b-1 Distribution Fee none
    Other Expenses none
    Acquired Fund Fees and Expenses 0.09%
    Total Annual Fund Operating Expenses 0.09%
    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 $10,000 in the Fund’s shares. This example assumes that the Fund provides a return of 5% each year and that total annual fund operating expenses of the Fund and its underlying funds remain as stated in the preceding table. You would incur these hypothetical expenses whether or not you redeem your investment at the end of the given period. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
    Expense Example
    1 Year
    3 Years
    5 Years
    10 Years
    Vanguard Institutional Target Retirement 2050 Fund | Institutional Shares | USD ($) 9 29 51 115
    Portfolio Turnover
    The Fund may pay transaction costs, such as purchase fees, 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. During the most recent fiscal period, the Fund’s portfolio turnover rate was 4% of the average value of its portfolio.
    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 2050 (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 2050, the Fund’s asset allocation should become similar to that of the Institutional Target Retirement Income Fund. As of March 31, 2017, the Fund’s asset allocation among the underlying funds was as follows:

    Vanguard Total Stock Market Index Fund 54.1%
    Vanguard Total International Stock Index Fund 35.8%
    Vanguard Total Bond Market II Index Fund 7.1%
    Vanguard Total International Bond Index Fund 3.0%

    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 following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows the performance of the Fund in its first full calendar year. The table shows how the average annual total returns of the Fund compare with those of relevant market indexes and a composite stock/bond index, which have investment characteristics similar to those of the Fund. Keep in mind that the Fund’s past performance (before and after taxes) does not indicate how the Fund will perform in the future. Updated performance information is available on our website at vanguard.com/performance or by calling Vanguard toll-free at 800-662-7447.
    Annual Total Returns — Vanguard Institutional Target Retirement 2050 Fund Institutional Shares
    Bar Chart
    [1] The year-to-date return as of the most recent calendar quarter, which ended on March 31, 2017, was 6.21%.
    During the periods shown in the bar chart, the highest return for a calendar quarter was 4.79% (quarter ended September 30, 2016), and the lowest return for a quarter was 0.86% (quarter ended March 31, 2016).
    Average Annual Total Returns for Periods Ended December 31, 2016
    Average Annual Total Returns - Vanguard Institutional Target Retirement 2050 Fund
    1 Year
    Since Inception
    Inception Date
    Institutional Shares 8.95% 1.76% Jun. 26, 2015
    Institutional Shares | Return After Taxes on Distributions 8.40% 1.27% Jun. 26, 2015
    Institutional Shares | Return After Taxes on Distributions and Sale of Fund Shares 5.40% 1.28% Jun. 26, 2015
    MSCI US Broad Market Index [1] 12.67% 5.89% Jun. 26, 2015
    Bloomberg Barclays U.S. Aggregate Bond Index [1] 2.65% 2.60% Jun. 26, 2015
    Target 2050 Composite Index [1] 9.13% 2.16% Jun. 26, 2015
    [1] Comparative Indexes (reflect no deduction for fees, expenses, or taxes)
    Actual after-tax returns depend on your tax situation and may differ from those shown in the preceding table. When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations. Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares may be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder.
    XML 77 R160.htm IDEA: XBRL DOCUMENT v3.7.0.1
    Label Element Value
    Risk/Return: rr_RiskReturnAbstract  
    Registrant Name dei_EntityRegistrantName VANGUARD CHESTER FUNDS
    Prospectus Date rr_ProspectusDate Jul. 12, 2017
    Vanguard Institutional Target Retirement 2050 Fund  
    Risk/Return: rr_RiskReturnAbstract  
    Risk/Return [Heading] rr_RiskReturnHeading Vanguard Institutional Target Retirement 2050 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 may pay transaction costs, such as purchase fees, 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. During the most recent fiscal period, the Fund’s portfolio turnover rate was 4% of the average value of its portfolio.
    Portfolio Turnover, Rate rr_PortfolioTurnoverRate 4.00%
    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 2050 (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 2050, the Fund’s asset allocation should become similar to that of the Institutional Target Retirement Income Fund. As of March 31, 2017, the Fund’s asset allocation among the underlying funds was as follows:

    Vanguard Total Stock Market Index Fund 54.1%
    Vanguard Total International Stock Index Fund 35.8%
    Vanguard Total Bond Market II Index Fund 7.1%
    Vanguard Total International Bond Index Fund 3.0%

    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 following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows the performance of the Fund in its first full calendar year. The table shows how the average annual total returns of the Fund compare with those of relevant market indexes and a composite stock/bond index, which have investment characteristics similar to those of the Fund. Keep in mind that the Fund’s past performance (before and after taxes) does not indicate how the Fund will perform in the future. Updated performance information is available on our website at vanguard.com/performance or by calling Vanguard toll-free at 800-662-7447.
    Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns The following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows the performance of the Fund in its first full calendar year. The table shows how the average annual total returns of the Fund compare with those of relevant market indexes and a composite stock/bond index, which have investment characteristics similar to those of the Fund.
    Performance Availability Phone [Text] rr_PerformanceAvailabilityPhone 800-662-7447
    Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress vanguard.com/performance
    Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture Keep in mind that the Fund’s past performance (before and after taxes) does not indicate how the Fund will perform in the future.
    Bar Chart [Heading] rr_BarChartHeading Annual Total Returns — Vanguard Institutional Target Retirement 2050 Fund Institutional Shares
    Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock During the periods shown in the bar chart, the highest return for a calendar quarter was 4.79% (quarter ended September 30, 2016), and the lowest return for a quarter was 0.86% (quarter ended March 31, 2016).
    Performance Table Heading rr_PerformanceTableHeading Average Annual Total Returns for Periods Ended December 31, 2016
    Performance Table Uses Highest Federal Rate rr_PerformanceTableUsesHighestFederalRate When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations.
    Performance Table Not Relevant to Tax Deferred rr_PerformanceTableNotRelevantToTaxDeferred Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan.
    Performance Table Explanation after Tax Higher rr_PerformanceTableExplanationAfterTaxHigher Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares may be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder.
    Performance Table Narrative rr_PerformanceTableNarrativeTextBlock Actual after-tax returns depend on your tax situation and may differ from those shown in the preceding table. When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations. Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares may be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder.
    Vanguard Institutional Target Retirement 2050 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 0.09%
    Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.09%
    1 Year rr_ExpenseExampleYear01 $ 9
    3 Years rr_ExpenseExampleYear03 29
    5 Years rr_ExpenseExampleYear05 51
    10 Years rr_ExpenseExampleYear10 115
    1 Year rr_ExpenseExampleNoRedemptionYear01 9
    3 Years rr_ExpenseExampleNoRedemptionYear03 29
    5 Years rr_ExpenseExampleNoRedemptionYear05 51
    10 Years rr_ExpenseExampleNoRedemptionYear10 $ 115
    2016 rr_AnnualReturn2016 8.95% [1]
    Year to Date Return, Label rr_YearToDateReturnLabel year-to-date return
    Bar Chart, Year to Date Return, Date rr_BarChartYearToDateReturnDate Mar. 31, 2017
    Bar Chart, Year to Date Return rr_BarChartYearToDateReturn 6.21%
    Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel highest return
    Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Sep. 30, 2016
    Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 4.79%
    Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel lowest return
    Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Mar. 31, 2016
    Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn 0.86%
    1 Year rr_AverageAnnualReturnYear01 8.95%
    Since Inception rr_AverageAnnualReturnSinceInception 1.76%
    Inception Date rr_AverageAnnualReturnInceptionDate Jun. 26, 2015
    Vanguard Institutional Target Retirement 2050 Fund | Return After Taxes on Distributions | Institutional Shares  
    Risk/Return: rr_RiskReturnAbstract  
    1 Year rr_AverageAnnualReturnYear01 8.40%
    Since Inception rr_AverageAnnualReturnSinceInception 1.27%
    Inception Date rr_AverageAnnualReturnInceptionDate Jun. 26, 2015
    Vanguard Institutional Target Retirement 2050 Fund | Return After Taxes on Distributions and Sale of Fund Shares | Institutional Shares  
    Risk/Return: rr_RiskReturnAbstract  
    1 Year rr_AverageAnnualReturnYear01 5.40%
    Since Inception rr_AverageAnnualReturnSinceInception 1.28%
    Inception Date rr_AverageAnnualReturnInceptionDate Jun. 26, 2015
    Vanguard Institutional Target Retirement 2050 Fund | MSCI US Broad Market Index  
    Risk/Return: rr_RiskReturnAbstract  
    1 Year rr_AverageAnnualReturnYear01 12.67% [2]
    Since Inception rr_AverageAnnualReturnSinceInception 5.89% [2]
    Inception Date rr_AverageAnnualReturnInceptionDate Jun. 26, 2015 [2]
    Vanguard Institutional Target Retirement 2050 Fund | Bloomberg Barclays U.S. Aggregate Bond Index  
    Risk/Return: rr_RiskReturnAbstract  
    1 Year rr_AverageAnnualReturnYear01 2.65% [2]
    Since Inception rr_AverageAnnualReturnSinceInception 2.60% [2]
    Inception Date rr_AverageAnnualReturnInceptionDate Jun. 26, 2015 [2]
    Vanguard Institutional Target Retirement 2050 Fund | Target 2050 Composite Index  
    Risk/Return: rr_RiskReturnAbstract  
    1 Year rr_AverageAnnualReturnYear01 9.13% [2]
    Since Inception rr_AverageAnnualReturnSinceInception 2.16% [2]
    Inception Date rr_AverageAnnualReturnInceptionDate Jun. 26, 2015 [2]
    [1] The year-to-date return as of the most recent calendar quarter, which ended on March 31, 2017, was 6.21%.
    [2] Comparative Indexes (reflect no deduction for fees, expenses, or taxes)
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    Vanguard Institutional Target Retirement 2055 Fund
    Vanguard Institutional Target Retirement 2055 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)
    Shareholder Fees
    Vanguard Institutional Target Retirement 2055 Fund
    Institutional Shares
    Sales Charge (Load) Imposed on Purchases none
    Purchase Fee none
    Sales Charge (Load) Imposed on Reinvested Dividends none
    Redemption Fee none
    Annual Fund Operating Expenses

    (Expenses that you pay each year as a percentage of the value of your investment)
    Annual Fund Operating Expenses
    Vanguard Institutional Target Retirement 2055 Fund
    Institutional Shares
    Management Fees none
    12b-1 Distribution Fee none
    Other Expenses none
    Acquired Fund Fees and Expenses 0.09%
    Total Annual Fund Operating Expenses 0.09%
    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 $10,000 in the Fund’s shares. This example assumes that the Fund provides a return of 5% each year and that total annual fund operating expenses of the Fund and its underlying funds remain as stated in the preceding table. You would incur these hypothetical expenses whether or not you redeem your investment at the end of the given period. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
    Expense Example
    1 Year
    3 Years
    5 Years
    10 Years
    Vanguard Institutional Target Retirement 2055 Fund | Institutional Shares | USD ($) 9 29 51 115
    Portfolio Turnover
    The Fund may pay transaction costs, such as purchase fees, 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. During the most recent fiscal period, the Fund’s portfolio turnover rate was 4% of the average value of its portfolio.
    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 2055 (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 2055, the Fund’s asset allocation should become similar to that of the Institutional Target Retirement Income Fund. As of March 31, 2017, the Fund’s asset allocation among the underlying funds was as follows:

    Vanguard Total Stock Market Index Fund       54.1%
    Vanguard Total International Stock Index Fund       35.8%
    Vanguard Total Bond Market II Index Fund       7.1%
    Vanguard Total International Bond Index Fund       3.0%

    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 following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows the performance of the Fund in its first full calendar year. The table shows how the average annual total returns of the Fund compare with those of relevant market indexes and a composite stock/bond index, which have investment characteristics similar to those of the Fund. Keep in mind that the Fund’s past performance (before and after taxes) does not indicate how the Fund will perform in the future. Updated performance information is available on our website at vanguard.com/performance or by calling Vanguard toll-free at 800-662-7447.
    Annual Total Returns — Vanguard Institutional Target Retirement 2055 Fund Institutional Shares
    Bar Chart
    [1] The year-to-date return as of the most recent calendar quarter, which ended on March 31, 2017, was 6.25%.
    During the periods shown in the bar chart, the highest return for a calendar quarter was 4.79% (quarter ended September 30, 2016), and the lowest return for a quarter was 0.86% (quarter ended March 31, 2016).
    Average Annual Total Returns for Periods Ended December 31, 2016
    Average Annual Total Returns - Vanguard Institutional Target Retirement 2055 Fund
    1 Year
    Since Inception
    Inception Date
    Institutional Shares 8.94% 1.75% Jun. 26, 2015
    Institutional Shares | Return After Taxes on Distributions 8.42% 1.28% Jun. 26, 2015
    Institutional Shares | Return After Taxes on Distributions and Sale of Fund Shares 5.38% 1.27% Jun. 26, 2015
    MSCI US Broad Market Index [1] 12.67% 5.89% Jun. 26, 2015
    Bloomberg Barclays U.S. Aggregate Bond Index [1] 2.65% 2.60% Jun. 26, 2015
    Target 2055 Composite Index [1] 9.13% 2.16% Jun. 26, 2015
    [1] Comparative Indexes (reflect no deduction for fees, expenses, or taxes)
    Actual after-tax returns depend on your tax situation and may differ from those shown in the preceding table. When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations. Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares may be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder.
    XML 80 R167.htm IDEA: XBRL DOCUMENT v3.7.0.1
    Label Element Value
    Risk/Return: rr_RiskReturnAbstract  
    Registrant Name dei_EntityRegistrantName VANGUARD CHESTER FUNDS
    Prospectus Date rr_ProspectusDate Jul. 12, 2017
    Vanguard Institutional Target Retirement 2055 Fund  
    Risk/Return: rr_RiskReturnAbstract  
    Risk/Return [Heading] rr_RiskReturnHeading Vanguard Institutional Target Retirement 2055 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 may pay transaction costs, such as purchase fees, 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. During the most recent fiscal period, the Fund’s portfolio turnover rate was 4% of the average value of its portfolio.
    Portfolio Turnover, Rate rr_PortfolioTurnoverRate 4.00%
    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 2055 (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 2055, the Fund’s asset allocation should become similar to that of the Institutional Target Retirement Income Fund. As of March 31, 2017, the Fund’s asset allocation among the underlying funds was as follows:

    Vanguard Total Stock Market Index Fund       54.1%
    Vanguard Total International Stock Index Fund       35.8%
    Vanguard Total Bond Market II Index Fund       7.1%
    Vanguard Total International Bond Index Fund       3.0%

    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 following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows the performance of the Fund in its first full calendar year. The table shows how the average annual total returns of the Fund compare with those of relevant market indexes and a composite stock/bond index, which have investment characteristics similar to those of the Fund. Keep in mind that the Fund’s past performance (before and after taxes) does not indicate how the Fund will perform in the future. Updated performance information is available on our website at vanguard.com/performance or by calling Vanguard toll-free at 800-662-7447.
    Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns The following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows the performance of the Fund in its first full calendar year. The table shows how the average annual total returns of the Fund compare with those of relevant market indexes and a composite stock/bond index, which have investment characteristics similar to those of the Fund.
    Performance Availability Phone [Text] rr_PerformanceAvailabilityPhone 800-662-7447
    Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress vanguard.com/performance
    Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture Keep in mind that the Fund’s past performance (before and after taxes) does not indicate how the Fund will perform in the future.
    Bar Chart [Heading] rr_BarChartHeading Annual Total Returns — Vanguard Institutional Target Retirement 2055 Fund Institutional Shares
    Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock During the periods shown in the bar chart, the highest return for a calendar quarter was 4.79% (quarter ended September 30, 2016), and the lowest return for a quarter was 0.86% (quarter ended March 31, 2016).
    Performance Table Heading rr_PerformanceTableHeading Average Annual Total Returns for Periods Ended December 31, 2016
    Performance Table Uses Highest Federal Rate rr_PerformanceTableUsesHighestFederalRate When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations.
    Performance Table Not Relevant to Tax Deferred rr_PerformanceTableNotRelevantToTaxDeferred Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan.
    Performance Table Explanation after Tax Higher rr_PerformanceTableExplanationAfterTaxHigher Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares may be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder.
    Performance Table Narrative rr_PerformanceTableNarrativeTextBlock Actual after-tax returns depend on your tax situation and may differ from those shown in the preceding table. When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations. Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares may be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder.
    Vanguard Institutional Target Retirement 2055 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 0.09%
    Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.09%
    1 Year rr_ExpenseExampleYear01 $ 9
    3 Years rr_ExpenseExampleYear03 29
    5 Years rr_ExpenseExampleYear05 51
    10 Years rr_ExpenseExampleYear10 115
    1 Year rr_ExpenseExampleNoRedemptionYear01 9
    3 Years rr_ExpenseExampleNoRedemptionYear03 29
    5 Years rr_ExpenseExampleNoRedemptionYear05 51
    10 Years rr_ExpenseExampleNoRedemptionYear10 $ 115
    2016 rr_AnnualReturn2016 8.94% [1]
    Year to Date Return, Label rr_YearToDateReturnLabel year-to-date return
    Bar Chart, Year to Date Return, Date rr_BarChartYearToDateReturnDate Mar. 31, 2017
    Bar Chart, Year to Date Return rr_BarChartYearToDateReturn 6.25%
    Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel highest return
    Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Sep. 30, 2016
    Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 4.79%
    Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel lowest return
    Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Mar. 31, 2016
    Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn 0.86%
    1 Year rr_AverageAnnualReturnYear01 8.94%
    Since Inception rr_AverageAnnualReturnSinceInception 1.75%
    Inception Date rr_AverageAnnualReturnInceptionDate Jun. 26, 2015
    Vanguard Institutional Target Retirement 2055 Fund | Return After Taxes on Distributions | Institutional Shares  
    Risk/Return: rr_RiskReturnAbstract  
    1 Year rr_AverageAnnualReturnYear01 8.42%
    Since Inception rr_AverageAnnualReturnSinceInception 1.28%
    Inception Date rr_AverageAnnualReturnInceptionDate Jun. 26, 2015
    Vanguard Institutional Target Retirement 2055 Fund | Return After Taxes on Distributions and Sale of Fund Shares | Institutional Shares  
    Risk/Return: rr_RiskReturnAbstract  
    1 Year rr_AverageAnnualReturnYear01 5.38%
    Since Inception rr_AverageAnnualReturnSinceInception 1.27%
    Inception Date rr_AverageAnnualReturnInceptionDate Jun. 26, 2015
    Vanguard Institutional Target Retirement 2055 Fund | MSCI US Broad Market Index  
    Risk/Return: rr_RiskReturnAbstract  
    1 Year rr_AverageAnnualReturnYear01 12.67% [2]
    Since Inception rr_AverageAnnualReturnSinceInception 5.89% [2]
    Inception Date rr_AverageAnnualReturnInceptionDate Jun. 26, 2015 [2]
    Vanguard Institutional Target Retirement 2055 Fund | Bloomberg Barclays U.S. Aggregate Bond Index  
    Risk/Return: rr_RiskReturnAbstract  
    1 Year rr_AverageAnnualReturnYear01 2.65% [2]
    Since Inception rr_AverageAnnualReturnSinceInception 2.60% [2]
    Inception Date rr_AverageAnnualReturnInceptionDate Jun. 26, 2015 [2]
    Vanguard Institutional Target Retirement 2055 Fund | Target 2055 Composite Index  
    Risk/Return: rr_RiskReturnAbstract  
    1 Year rr_AverageAnnualReturnYear01 9.13% [2]
    Since Inception rr_AverageAnnualReturnSinceInception 2.16% [2]
    Inception Date rr_AverageAnnualReturnInceptionDate Jun. 26, 2015 [2]
    [1] The year-to-date return as of the most recent calendar quarter, which ended on March 31, 2017, was 6.25%.
    [2] Comparative Indexes (reflect no deduction for fees, expenses, or taxes)
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    Vanguard Institutional Target Retirement 2060 Fund
    Vanguard Institutional Target Retirement 2060 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)
    Shareholder Fees
    Vanguard Institutional Target Retirement 2060 Fund
    Institutional Shares
    Sales Charge (Load) Imposed on Purchases none
    Purchase Fee none
    Sales Charge (Load) Imposed on Reinvested Dividends none
    Redemption Fee none
    Annual Fund Operating Expenses

    (Expenses that you pay each year as a percentage of the value of your investment)
    Annual Fund Operating Expenses
    Vanguard Institutional Target Retirement 2060 Fund
    Institutional Shares
    Management Fees none
    12b-1 Distribution Fee none
    Other Expenses none
    Acquired Fund Fees and Expenses 0.09%
    Total Annual Fund Operating Expenses 0.09%
    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 $10,000 in the Fund’s shares. This example assumes that the Fund provides a return of 5% each year and that total annual fund operating expenses of the Fund and its underlying funds remain as stated in the preceding table. You would incur these hypothetical expenses whether or not you redeem your investment at the end of the given period. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
    Expense Example
    1 Year
    3 Years
    5 Years
    10 Years
    Vanguard Institutional Target Retirement 2060 Fund | Institutional Shares | USD ($) 9 29 51 115
    Portfolio Turnover
    The Fund may pay transaction costs, such as purchase fees, 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. During the most recent fiscal period, the Fund’s portfolio turnover rate was 6% of the average value of its portfolio.
    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 2060 (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 2060, the Fund’s asset allocation should become similar to that of the Institutional Target Retirement Income Fund. As of March 31, 2017, the Fund’s asset allocation among the underlying funds was as follows:

    Vanguard Total Stock Market Index Fund 54.1%
    Vanguard Total International Stock Index Fund           35.8%
    Vanguard Total Bond Market II Index Fund 7.1%
    Vanguard Total International Bond Index Fund 3.0%

    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 following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows the performance of the Fund in its first full calendar year. The table shows how the average annual total returns of the Fund compare with those of relevant market indexes and a composite stock/bond index, which have investment characteristics similar to those of the Fund. Keep in mind that the Fund’s past performance (before and after taxes) does not indicate how the Fund will perform in the future. Updated performance information is available on our website at vanguard.com/performance or by calling Vanguard toll-free at 800-662-7447.
    Annual Total Returns — Vanguard Institutional Target Retirement 2060 Fund Institutional Shares
    Bar Chart
    [1] The year-to-date return as of the most recent calendar quarter, which ended on March 31, 2017, was 6.20%.
    During the periods shown in the bar chart, the highest return for a calendar quarter was 4.85% (quarter ended September 30, 2016), and the lowest return for a quarter was 0.80% (quarter ended March 31, 2016).
    Average Annual Total Returns for Periods Ended December 31, 2016
    Average Annual Total Returns - Vanguard Institutional Target Retirement 2060 Fund
    1 Year
    Since Inception
    Inception Date
    Institutional Shares 8.94% 1.74% Jun. 26, 2015
    Institutional Shares | Return After Taxes on Distributions 8.42% 1.26% Jun. 26, 2015
    Institutional Shares | Return After Taxes on Distributions and Sale of Fund Shares 5.38% 1.26% Jun. 26, 2015
    MSCI US Broad Market Index [1] 12.67% 5.89% Jun. 26, 2015
    Bloomberg Barclays U.S. Aggregate Bond Index [1] 2.65% 2.60% Jun. 26, 2015
    Target 2060 Composite Index [1] 9.13% 2.16% Jun. 26, 2015
    [1] Comparative Indexes (reflect no deduction for fees, expenses, or taxes)
    Actual after-tax returns depend on your tax situation and may differ from those shown in the preceding table. When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations. Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares may be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder.
    XML 83 R174.htm IDEA: XBRL DOCUMENT v3.7.0.1
    Label Element Value
    Risk/Return: rr_RiskReturnAbstract  
    Registrant Name dei_EntityRegistrantName VANGUARD CHESTER FUNDS
    Prospectus Date rr_ProspectusDate Jul. 12, 2017
    Vanguard Institutional Target Retirement 2060 Fund  
    Risk/Return: rr_RiskReturnAbstract  
    Risk/Return [Heading] rr_RiskReturnHeading Vanguard Institutional Target Retirement 2060 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 may pay transaction costs, such as purchase fees, 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. During the most recent fiscal period, the Fund’s portfolio turnover rate was 6% of the average value of its portfolio.
    Portfolio Turnover, Rate rr_PortfolioTurnoverRate 6.00%
    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 2060 (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 2060, the Fund’s asset allocation should become similar to that of the Institutional Target Retirement Income Fund. As of March 31, 2017, the Fund’s asset allocation among the underlying funds was as follows:

    Vanguard Total Stock Market Index Fund 54.1%
    Vanguard Total International Stock Index Fund           35.8%
    Vanguard Total Bond Market II Index Fund 7.1%
    Vanguard Total International Bond Index Fund 3.0%

    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 following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows the performance of the Fund in its first full calendar year. The table shows how the average annual total returns of the Fund compare with those of relevant market indexes and a composite stock/bond index, which have investment characteristics similar to those of the Fund. Keep in mind that the Fund’s past performance (before and after taxes) does not indicate how the Fund will perform in the future. Updated performance information is available on our website at vanguard.com/performance or by calling Vanguard toll-free at 800-662-7447.
    Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns The following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows the performance of the Fund in its first full calendar year. The table shows how the average annual total returns of the Fund compare with those of relevant market indexes and a composite stock/bond index, which have investment characteristics similar to those of the Fund.
    Performance Availability Phone [Text] rr_PerformanceAvailabilityPhone 800-662-7447
    Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress vanguard.com/performance
    Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture Keep in mind that the Fund’s past performance (before and after taxes) does not indicate how the Fund will perform in the future.
    Bar Chart [Heading] rr_BarChartHeading Annual Total Returns — Vanguard Institutional Target Retirement 2060 Fund Institutional Shares
    Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock During the periods shown in the bar chart, the highest return for a calendar quarter was 4.85% (quarter ended September 30, 2016), and the lowest return for a quarter was 0.80% (quarter ended March 31, 2016).
    Performance Table Heading rr_PerformanceTableHeading Average Annual Total Returns for Periods Ended December 31, 2016
    Performance Table Uses Highest Federal Rate rr_PerformanceTableUsesHighestFederalRate When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations.
    Performance Table Not Relevant to Tax Deferred rr_PerformanceTableNotRelevantToTaxDeferred Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan.
    Performance Table Explanation after Tax Higher rr_PerformanceTableExplanationAfterTaxHigher Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares may be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder.
    Performance Table Narrative rr_PerformanceTableNarrativeTextBlock Actual after-tax returns depend on your tax situation and may differ from those shown in the preceding table. When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations. Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares may be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder.
    Vanguard Institutional Target Retirement 2060 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 0.09%
    Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.09%
    1 Year rr_ExpenseExampleYear01 $ 9
    3 Years rr_ExpenseExampleYear03 29
    5 Years rr_ExpenseExampleYear05 51
    10 Years rr_ExpenseExampleYear10 115
    1 Year rr_ExpenseExampleNoRedemptionYear01 9
    3 Years rr_ExpenseExampleNoRedemptionYear03 29
    5 Years rr_ExpenseExampleNoRedemptionYear05 51
    10 Years rr_ExpenseExampleNoRedemptionYear10 $ 115
    2016 rr_AnnualReturn2016 8.94% [1]
    Year to Date Return, Label rr_YearToDateReturnLabel year-to-date return
    Bar Chart, Year to Date Return, Date rr_BarChartYearToDateReturnDate Mar. 31, 2017
    Bar Chart, Year to Date Return rr_BarChartYearToDateReturn 6.20%
    Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel highest return
    Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Sep. 30, 2016
    Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 4.85%
    Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel lowest return
    Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Mar. 31, 2016
    Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn 0.80%
    1 Year rr_AverageAnnualReturnYear01 8.94%
    Since Inception rr_AverageAnnualReturnSinceInception 1.74%
    Inception Date rr_AverageAnnualReturnInceptionDate Jun. 26, 2015
    Vanguard Institutional Target Retirement 2060 Fund | Return After Taxes on Distributions | Institutional Shares  
    Risk/Return: rr_RiskReturnAbstract  
    1 Year rr_AverageAnnualReturnYear01 8.42%
    Since Inception rr_AverageAnnualReturnSinceInception 1.26%
    Inception Date rr_AverageAnnualReturnInceptionDate Jun. 26, 2015
    Vanguard Institutional Target Retirement 2060 Fund | Return After Taxes on Distributions and Sale of Fund Shares | Institutional Shares  
    Risk/Return: rr_RiskReturnAbstract  
    1 Year rr_AverageAnnualReturnYear01 5.38%
    Since Inception rr_AverageAnnualReturnSinceInception 1.26%
    Inception Date rr_AverageAnnualReturnInceptionDate Jun. 26, 2015
    Vanguard Institutional Target Retirement 2060 Fund | MSCI US Broad Market Index  
    Risk/Return: rr_RiskReturnAbstract  
    1 Year rr_AverageAnnualReturnYear01 12.67% [2]
    Since Inception rr_AverageAnnualReturnSinceInception 5.89% [2]
    Inception Date rr_AverageAnnualReturnInceptionDate Jun. 26, 2015 [2]
    Vanguard Institutional Target Retirement 2060 Fund | Bloomberg Barclays U.S. Aggregate Bond Index  
    Risk/Return: rr_RiskReturnAbstract  
    1 Year rr_AverageAnnualReturnYear01 2.65% [2]
    Since Inception rr_AverageAnnualReturnSinceInception 2.60% [2]
    Inception Date rr_AverageAnnualReturnInceptionDate Jun. 26, 2015 [2]
    Vanguard Institutional Target Retirement 2060 Fund | Target 2060 Composite Index  
    Risk/Return: rr_RiskReturnAbstract  
    1 Year rr_AverageAnnualReturnYear01 9.13% [2]
    Since Inception rr_AverageAnnualReturnSinceInception 2.16% [2]
    Inception Date rr_AverageAnnualReturnInceptionDate Jun. 26, 2015 [2]
    [1] The year-to-date return as of the most recent calendar quarter, which ended on March 31, 2017, was 6.20%.
    [2] Comparative Indexes (reflect no deduction for fees, expenses, or taxes)
    XML 84 R175.htm IDEA: XBRL DOCUMENT v3.7.0.1
    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)
    Shareholder Fees
    Vanguard Institutional Target Retirement 2065 Fund
    Institutional Shares
    Sales Charge (Load) Imposed on Purchases none
    Purchase Fee none
    Sales Charge (Load) Imposed on Reinvested Dividends none
    Redemption Fee none
    Annual Fund Operating Expenses

    (Expenses that you pay each year as a percentage of the value of your investment)
    Annual Fund Operating Expenses
    Vanguard Institutional Target Retirement 2065 Fund
    Institutional Shares
    Management Fees none
    12b-1 Distribution Fee none
    Other Expenses none
    Acquired Fund Fees and Expenses 0.10%
    Total Annual Fund Operating Expenses 0.10%
    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 $10,000 in the Fund’s shares. This example assumes that the Fund provides a return of 5% each year and that total annual fund operating expenses of the Fund and its underlying funds remain as stated in the preceding table. You would incur these hypothetical expenses whether or not you redeem your investment at the end of the given period. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
    Expense Example
    1 Year
    3 Years
    5 Years
    10 Years
    Vanguard Institutional Target Retirement 2065 Fund | Institutional Shares | USD ($) 10 32 56 128
    Portfolio Turnover
    The Fund may pay transaction costs, such as purchase fees, 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 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:

    Vanguard Total Stock Market Index Fund 54.0%
    Vanguard Total International Stock Index Fund 36.0%
    Vanguard Total Bond Market II Index Fund 7.0%
    Vanguard Total International Bond Index Fund 3.0%

    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 July 12, 2017, so performance information is not yet available.
    XML 85 R179.htm IDEA: XBRL DOCUMENT v3.7.0.1
    Label Element Value
    Risk/Return: rr_RiskReturnAbstract  
    Registrant Name dei_EntityRegistrantName VANGUARD CHESTER FUNDS
    Prospectus Date rr_ProspectusDate Jul. 12, 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 may pay transaction costs, such as purchase fees, 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 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:

    Vanguard Total Stock Market Index Fund 54.0%
    Vanguard Total International Stock Index Fund 36.0%
    Vanguard Total Bond Market II Index Fund 7.0%
    Vanguard Total International Bond Index Fund 3.0%

    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 July 12, 2017, so performance information is not yet available.
    Performance One Year or Less [Text] rr_PerformanceOneYearOrLess The Fund began operations on July 12, 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
    XML 86 R180.htm IDEA: XBRL DOCUMENT v3.7.0.1
    Label Element Value
    Risk/Return: rr_RiskReturnAbstract  
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Retail | Vanguard Target Retirement 2015 Fund
Vanguard Target Retirement 2015 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)
Shareholder Fees
Retail
Vanguard Target Retirement 2015 Fund
Investor Shares
USD ($)
Sales Charge (Load) Imposed on Purchases none
Purchase Fee none
Sales Charge (Load) Imposed on Reinvested Dividends none
Redemption Fee none
Account Service Fee (for certain fund account balances below $10,000) $ 20 [1]
[1] /year
Annual Fund Operating Expenses

(Expenses that you pay each year as a percentage of the value of your investment)
Annual Fund Operating Expenses
Retail
Vanguard Target Retirement 2015 Fund
Investor Shares
Management Fees none
12b-1 Distribution Fee none
Other Expenses none
Acquired Fund Fees and Expenses 0.14%
Total Annual Fund Operating Expenses 0.14%
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 $10,000 in the Fund’s shares. This example assumes that the Fund provides a return of 5% each year and that total annual fund operating expenses of the Fund and its underlying funds remain as stated in the preceding table. You would incur these hypothetical expenses whether or not you redeem your investment at the end of the given period. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
Expense Example
1 Year
3 Years
5 Years
10 Years
Retail | Vanguard Target Retirement 2015 Fund | Investor Shares | USD ($) 14 45 79 179
Portfolio Turnover
The Fund may pay transaction costs, such as purchase fees, 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. During the most recent fiscal period, the Fund’s portfolio turnover rate was 8% of the average value of its portfolio.
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 2015 (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 2015, the Fund’s asset allocation should become similar to that of the Target Retirement Income Fund. As of March 31, 2017, the Fund’s asset allocation among the underlying funds was as follows:

Vanguard Total Bond Market II Index Fund 31.6%
Vanguard Total Stock Market Index Fund 26.8%
Vanguard Total International Stock Index Fund 17.9%
Vanguard Total International Bond Index Fund 13.4%
Vanguard Short-Term Inflation-Protected Securities Index Fund 10.3%

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 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; inflation-protected public obligations issued by the U.S. Treasury; 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).

The Fund’s indirect stock holdings are a diversified mix of U.S. and foreign large-, mid-, and small-capitalization stocks.
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 fixed income securities such as bonds usually are less volatile than stocks and because the Fund currently invests a significant portion of its assets in fixed income securities, the Fund’s overall level of risk should be lower than that of funds investing entirely in stocks.

• With approximately 55% 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.

• With approximately 45% 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 any one 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.

• 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 following bar chart and table are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund has varied from one calendar year to another over the periods shown. The table shows how the average annual total returns of the Fund compare with those of relevant market indexes and a composite bond/stock index, which have investment characteristics similar to those of the Fund. Keep in mind that the Fund’s past performance (before and after taxes) does not indicate how the Fund will perform in the future. Updated performance information is available on our website at vanguard.com/performance or by calling Vanguard toll-free at 800-662-7447.
Annual Total Returns — Vanguard Target Retirement 2015 Fund Investor Shares
Bar Chart
[1] The year-to-date return as of the most recent calendar quarter, which ended on March 31, 2017, was 3.38%.
During the periods shown in the bar chart, the highest return for a calendar quarter was 12.21% (quarter ended June 30, 2009), and the lowest return for a quarter was –12.54% (quarter ended December 31, 2008).
Average Annual Total Returns for Periods Ended December 31, 2016
Average Annual Total Returns - Retail - Vanguard Target Retirement 2015 Fund
1 Year
5 Years
10 Years
Investor Shares 6.16% 7.22% 4.85%
Investor Shares | Return After Taxes on Distributions 4.95% 6.14% 3.94%
Investor Shares | Return After Taxes on Distributions and Sale of Fund Shares 4.10% 5.45% 3.62%
Bloomberg Barclays U.S. Aggregate Bond Index [1] 2.65% 2.23% 4.34%
MSCI US Broad Market Index [1] 12.67% 14.71% 7.26%
Target 2015 Composite Index [1] 6.40% 7.43% 4.90%
[1] Comparative Indexes (reflect no deduction for fees, expenses, or taxes)
Actual after-tax returns depend on your tax situation and may differ from those shown in the preceding table. When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations. Please note that after-tax returns are not relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. Also, figures captioned Return After Taxes on Distributions and Sale of Fund Shares may be higher than other figures for the same period if a capital loss occurs upon redemption and results in an assumed tax deduction for the shareholder.