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          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Vanguard FTSE Canada All Cap Index ETF</name>
        <lei>549300XBO9DEDUKREV46</lei>
        <title>VANGUARD FTSE CA</title>
        <cusip>92205P104</cusip>
        <identifiers>
          <isin value="CA92205P1045"/>
        </identifiers>
        <balance>547842.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="0.73659400"/>
        <valUSD>12570181.42000000</valUSD>
        <pctVal>1.931687189779</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Vanguard European Stock Index Fund</name>
        <lei>361APDRO23LM07VQYX32</lei>
        <title>VANG-EUR ST-ADM</title>
        <cusip>922042809</cusip>
        <identifiers>
          <isin value="US9220428091"/>
        </identifiers>
        <balance>1365456.94600000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>86010133.03000000</valUSD>
        <pctVal>13.21736469936</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2020-07-31</ncom:dateSigned>
      <ncom:nameOfApplicant>VANGUARD VARIABLE INSURANCE FUNDS</ncom:nameOfApplicant>
      <ncom:signature>Christine M. Buchanan</ncom:signature>
      <ncom:signerName>Christine M. Buchanan</ncom:signerName>
      <ncom:title>Treasurer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
