497 1 multifund062011.htm STATE MONEY MARKET SUPPLEMENTS multifund062011.htm - Generated by SEC Publisher for SEC Filing

Vanguard California Tax-Exempt Money Market Fund
Vanguard New Jersey Tax-Exempt Money Market Fund
Vanguard New York Tax-Exempt Money Market Fund
Vanguard Pennsylvania Tax-Exempt Money Market Fund

 

Supplement to the Prospectus and Summary Prospectus Dated March 29, 2011

The table under the heading “Fees and Expenses” is replaced with the following:

Shareholder Fees  
(Fees paid directly from your investment)  
 
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 fund account balances below $10,000) $20/year

 

Annual Fund Operating Expenses

(Expenses that you pay each year as a percentage of the value of your investment)

Management Expenses 0.14%
12b-1 Distribution Fee None
Other Expenses 0.03%
Total Annual Fund Operating Expenses 0.17%1

 

1 Vanguard and the Fund’s Board have voluntarily agreed to temporarily limit certain net operating expenses in excess of the Fund’s daily yield so as to maintain a zero or positive yield for the Fund. Vanguard and the Fund’s Board may terminate the temporary expense limitation at any time.

© 2011 The Vanguard Group, Inc. All rights reserved.
Vanguard Marketing Corporation, Distributor.                                                                         TAXEMT 062011