Vanguard is is the largest provider of mutual funds and the second-largest provider of exchange-traded funds. ETFs combine the diversification of mutual funds with lower investment minimum and real-time pricing. Vanguard is owned by the funds managed by the company and is therefore owned by its customers.

For more information about Vanguard funds or ETFs, visit vanguard.com to obtain a prospectus or, if available, a summary prospectus.