<SEC-DOCUMENT>0001683863-21-000385-index.html : 20210201
<SEC-HEADER>0001683863-21-000385.hdr.sgml : 20210201
<ACCEPTANCE-DATETIME>20210129173557
ACCESSION NUMBER:		0001683863-21-000385
CONFORMED SUBMISSION TYPE:	497K
PUBLIC DOCUMENT COUNT:		3
FILED AS OF DATE:		20210201
DATE AS OF CHANGE:		20210129
EFFECTIVENESS DATE:		20210201

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			VANGUARD FENWAY FUNDS
		CENTRAL INDEX KEY:			0000826473
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0930

	FILING VALUES:
		FORM TYPE:		497K
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	033-19446
		FILM NUMBER:		21573096

	BUSINESS ADDRESS:	
		STREET 1:		P.O. 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 EQUITY INCOME FUND INC
		DATE OF NAME CHANGE:	19920703
<SERIES-AND-CLASSES-CONTRACTS-DATA>
<EXISTING-SERIES-AND-CLASSES-CONTRACTS>
<SERIES>
<OWNER-CIK>0000826473
<SERIES-ID>S000002579
<SERIES-NAME>Vanguard Equity Income Fund
<CLASS-CONTRACT>
<CLASS-CONTRACT-ID>C000007083
<CLASS-CONTRACT-NAME>Investor Shares
<CLASS-CONTRACT-TICKER-SYMBOL>VEIPX
</CLASS-CONTRACT>
<CLASS-CONTRACT>
<CLASS-CONTRACT-ID>C000007084
<CLASS-CONTRACT-NAME>Admiral Shares
<CLASS-CONTRACT-TICKER-SYMBOL>VEIRX
</CLASS-CONTRACT>
</SERIES>
</EXISTING-SERIES-AND-CLASSES-CONTRACTS>
</SERIES-AND-CLASSES-CONTRACTS-DATA>
</SEC-HEADER>
<DOCUMENT>
<TYPE>497K
<SEQUENCE>1
<FILENAME>f7880d1.htm
<DESCRIPTION>EQUITY INCOME SUMMARY
<TEXT>
Document 1 - file: f7880d1.htm

</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>2
<FILENAME>gktaaut1m9u20plz936f1.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
Document 2 - file: gktaaut1m9u20plz936f1.jpg

</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>3
<FILENAME>gtyll0h9gr8nxsbws2jd2.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
Document 3 - file: gtyll0h9gr8nxsbws2jd2.jpg

</DOCUMENT>
</SEC-DOCUMENT>