0000036405 2025-12-31 2025-12-31 0000036405 index:InstitutionalSelectProspectusMember index:S000002848Member 2025-12-31 2025-12-31 0000036405 index:InstitutionalSelectProspectusMember index:S000002848Member index:C000170276Member 2025-12-31 2025-12-31 0000036405 index:InstitutionalSelectProspectusMember index:S000002848Member oef:RiskLoseMoneyMember 2025-12-31 2025-12-31 0000036405 index:InstitutionalSelectProspectusMember index:S000002848Member index:GeneralMarketRiskMember 2025-12-31 2025-12-31 0000036405 index:InstitutionalSelectProspectusMember index:S000002848Member index:InvestingInEquityMarketsRiskMember 2025-12-31 2025-12-31 0000036405 index:InstitutionalSelectProspectusMember index:S000002848Member index:MarketCapitalizationRiskMember 2025-12-31 2025-12-31 0000036405 index:InstitutionalSelectProspectusMember index:S000002848Member index:IndexInvestingRiskMember 2025-12-31 2025-12-31 0000036405 index:InstitutionalSelectProspectusMember index:S000002848Member index:NondiversificationRiskMember 2025-12-31 2025-12-31 0000036405 index:InstitutionalSelectProspectusMember index:S000002848Member index:ConcentrationRiskMember 2025-12-31 2025-12-31 0000036405 index:InstitutionalSelectProspectusMember index:S000002848Member index:SectorRiskMember 2025-12-31 2025-12-31 0000036405 index:InstitutionalSelectProspectusMember index:S000002848Member oef:RiskNotInsuredDepositoryInstitutionMember 2025-12-31 2025-12-31 0000036405 index:InstitutionalSelectProspectusMember index:C000170276Member 2025-12-31 2025-12-31 0000036405 index:InstitutionalSelectProspectusMember index:C000170276Member 2025-01-01 2025-12-31 0000036405 index:InstitutionalSelectProspectusMember index:C000170276Member 2021-01-01 2025-12-31 0000036405 index:InstitutionalSelectProspectusMember index:C000170276Member 2016-06-27 2025-12-31 0000036405 index:InstitutionalSelectProspectusMember index:C000170276Member oef:AfterTaxesOnDistributionsMember 2025-01-01 2025-12-31 0000036405 index:InstitutionalSelectProspectusMember index:C000170276Member oef:AfterTaxesOnDistributionsMember 2021-01-01 2025-12-31 0000036405 index:InstitutionalSelectProspectusMember index:C000170276Member oef:AfterTaxesOnDistributionsMember 2016-06-27 2025-12-31 0000036405 index:InstitutionalSelectProspectusMember index:C000170276Member oef:AfterTaxesOnDistributionsAndSalesMember 2025-01-01 2025-12-31 0000036405 index:InstitutionalSelectProspectusMember index:C000170276Member oef:AfterTaxesOnDistributionsAndSalesMember 2021-01-01 2025-12-31 0000036405 index:InstitutionalSelectProspectusMember index:C000170276Member oef:AfterTaxesOnDistributionsAndSalesMember 2016-06-27 2025-12-31 0000036405 index:InstitutionalSelectProspectusMember index:CRSPUSTotalMarketIndexMember 2025-01-01 2025-12-31 0000036405 index:InstitutionalSelectProspectusMember index:CRSPUSTotalMarketIndexMember 2021-01-01 2025-12-31 0000036405 index:InstitutionalSelectProspectusMember index:CRSPUSTotalMarketIndexMember 2016-06-27 2025-12-31 0000036405 index:InstitutionalSelectProspectusMember index:DowJonesUSTotalStockMarketFloatAdjustedIndexMember 2025-01-01 2025-12-31 0000036405 index:InstitutionalSelectProspectusMember index:DowJonesUSTotalStockMarketFloatAdjustedIndexMember 2021-01-01 2025-12-31 0000036405 index:InstitutionalSelectProspectusMember index:DowJonesUSTotalStockMarketFloatAdjustedIndexMember 2016-06-27 2025-12-31 0000036405 index:InvestorProspectusMember index:S000002839Member 2025-12-31 2025-12-31 0000036405 index:InvestorProspectusMember index:S000002839Member index:C000007773Member 2025-12-31 2025-12-31 0000036405 index:InvestorProspectusMember index:S000002839Member oef:RiskLoseMoneyMember 2025-12-31 2025-12-31 0000036405 index:InvestorProspectusMember index:S000002839Member index:GeneralMarketRiskMember 2025-12-31 2025-12-31 0000036405 index:InvestorProspectusMember index:S000002839Member index:InvestingInEquityMarketsRiskMember 2025-12-31 2025-12-31 0000036405 index:InvestorProspectusMember index:S000002839Member index:MarketCapitalizationRiskMember 2025-12-31 2025-12-31 0000036405 index:InvestorProspectusMember index:S000002839Member index:IndexInvestingRiskMember 2025-12-31 2025-12-31 0000036405 index:InvestorProspectusMember index:S000002839Member index:NondiversificationRiskMember 2025-12-31 2025-12-31 0000036405 index:InvestorProspectusMember index:S000002839Member index:ConcentrationRiskMember 2025-12-31 2025-12-31 0000036405 index:InvestorProspectusMember index:S000002839Member index:SectorRiskMember 2025-12-31 2025-12-31 0000036405 index:InvestorProspectusMember index:S000002839Member oef:RiskNotInsuredDepositoryInstitutionMember 2025-12-31 2025-12-31 0000036405 index:InvestorProspectusMember index:C000007773Member 2025-01-01 2025-12-31 0000036405 index:InvestorProspectusMember index:C000007773Member 2021-01-01 2025-12-31 0000036405 index:InvestorProspectusMember index:C000007773Member 2016-01-01 2025-12-31 0000036405 index:InvestorProspectusMember index:C000007773Member oef:AfterTaxesOnDistributionsMember 2025-01-01 2025-12-31 0000036405 index:InvestorProspectusMember index:C000007773Member oef:AfterTaxesOnDistributionsMember 2021-01-01 2025-12-31 0000036405 index:InvestorProspectusMember index:C000007773Member oef:AfterTaxesOnDistributionsMember 2016-01-01 2025-12-31 0000036405 index:InvestorProspectusMember index:C000007773Member oef:AfterTaxesOnDistributionsAndSalesMember 2025-01-01 2025-12-31 0000036405 index:InvestorProspectusMember index:C000007773Member oef:AfterTaxesOnDistributionsAndSalesMember 2021-01-01 2025-12-31 0000036405 index:InvestorProspectusMember index:C000007773Member oef:AfterTaxesOnDistributionsAndSalesMember 2016-01-01 2025-12-31 0000036405 index:InvestorProspectusMember index:StandardandPoors500IndexMember 2025-01-01 2025-12-31 0000036405 index:InvestorProspectusMember index:StandardandPoors500IndexMember 2021-01-01 2025-12-31 0000036405 index:InvestorProspectusMember index:StandardandPoors500IndexMember 2016-01-01 2025-12-31 0000036405 index:InvestorProspectusMember index:DowJonesUSTotalStockMarketFloatAdjustedIndexMember 2025-01-01 2025-12-31 0000036405 index:InvestorProspectusMember index:DowJonesUSTotalStockMarketFloatAdjustedIndexMember 2021-01-01 2025-12-31 0000036405 index:InvestorProspectusMember index:DowJonesUSTotalStockMarketFloatAdjustedIndexMember 2016-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:S000002839Member 2025-12-31 2025-12-31 0000036405 index:AdmiralProspectusMember index:S000002839Member index:C000007774Member 2025-12-31 2025-12-31 0000036405 index:AdmiralProspectusMember index:S000002839Member oef:RiskLoseMoneyMember 2025-12-31 2025-12-31 0000036405 index:AdmiralProspectusMember index:S000002839Member index:GeneralMarketRiskMember 2025-12-31 2025-12-31 0000036405 index:AdmiralProspectusMember index:S000002839Member index:InvestingInEquityMarketsRiskMember 2025-12-31 2025-12-31 0000036405 index:AdmiralProspectusMember index:S000002839Member index:MarketCapitalizationRiskMember 2025-12-31 2025-12-31 0000036405 index:AdmiralProspectusMember index:S000002839Member index:IndexInvestingRiskMember 2025-12-31 2025-12-31 0000036405 index:AdmiralProspectusMember index:S000002839Member index:NondiversificationRiskMember 2025-12-31 2025-12-31 0000036405 index:AdmiralProspectusMember index:S000002839Member index:ConcentrationRiskMember 2025-12-31 2025-12-31 0000036405 index:AdmiralProspectusMember index:S000002839Member index:SectorRiskMember 2025-12-31 2025-12-31 0000036405 index:AdmiralProspectusMember index:S000002839Member oef:RiskNotInsuredDepositoryInstitutionMember 2025-12-31 2025-12-31 0000036405 index:AdmiralProspectusMember index:C000007774Member 2025-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:C000007774Member 2021-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:C000007774Member 2016-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:C000007774Member oef:AfterTaxesOnDistributionsMember 2025-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:C000007774Member oef:AfterTaxesOnDistributionsMember 2021-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:C000007774Member oef:AfterTaxesOnDistributionsMember 2016-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:C000007774Member oef:AfterTaxesOnDistributionsAndSalesMember 2025-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:C000007774Member oef:AfterTaxesOnDistributionsAndSalesMember 2021-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:C000007774Member oef:AfterTaxesOnDistributionsAndSalesMember 2016-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:StandardandPoors500IndexMember 2025-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:StandardandPoors500IndexMember 2021-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:StandardandPoors500IndexMember 2016-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:DowJonesUSTotalStockMarketFloatAdjustedIndexMember 2025-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:DowJonesUSTotalStockMarketFloatAdjustedIndexMember 2021-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:DowJonesUSTotalStockMarketFloatAdjustedIndexMember 2016-01-01 2025-12-31 0000036405 index:InstitutionalSelectProspectusMember index:S000002839Member 2025-12-31 2025-12-31 0000036405 index:InstitutionalSelectProspectusMember index:S000002839Member index:C000170274Member 2025-12-31 2025-12-31 0000036405 index:InstitutionalSelectProspectusMember index:S000002839Member oef:RiskLoseMoneyMember 2025-12-31 2025-12-31 0000036405 index:InstitutionalSelectProspectusMember index:S000002839Member index:GeneralMarketRiskMember 2025-12-31 2025-12-31 0000036405 index:InstitutionalSelectProspectusMember index:S000002839Member index:InvestingInEquityMarketsRiskMember 2025-12-31 2025-12-31 0000036405 index:InstitutionalSelectProspectusMember index:S000002839Member index:MarketCapitalizationRiskMember 2025-12-31 2025-12-31 0000036405 index:InstitutionalSelectProspectusMember index:S000002839Member index:IndexInvestingRiskMember 2025-12-31 2025-12-31 0000036405 index:InstitutionalSelectProspectusMember index:S000002839Member index:NondiversificationRiskMember 2025-12-31 2025-12-31 0000036405 index:InstitutionalSelectProspectusMember index:S000002839Member index:ConcentrationRiskMember 2025-12-31 2025-12-31 0000036405 index:InstitutionalSelectProspectusMember index:S000002839Member index:SectorRiskMember 2025-12-31 2025-12-31 0000036405 index:InstitutionalSelectProspectusMember index:S000002839Member oef:RiskNotInsuredDepositoryInstitutionMember 2025-12-31 2025-12-31 0000036405 index:InstitutionalSelectProspectusMember index:C000170274Member 2025-12-31 2025-12-31 0000036405 index:InstitutionalSelectProspectusMember index:C000170274Member 2025-01-01 2025-12-31 0000036405 index:InstitutionalSelectProspectusMember index:C000170274Member 2021-01-01 2025-12-31 0000036405 index:InstitutionalSelectProspectusMember index:C000170274Member 2016-06-24 2025-12-31 0000036405 index:InstitutionalSelectProspectusMember index:C000170274Member oef:AfterTaxesOnDistributionsMember 2025-01-01 2025-12-31 0000036405 index:InstitutionalSelectProspectusMember index:C000170274Member oef:AfterTaxesOnDistributionsMember 2021-01-01 2025-12-31 0000036405 index:InstitutionalSelectProspectusMember index:C000170274Member oef:AfterTaxesOnDistributionsMember 2016-06-24 2025-12-31 0000036405 index:InstitutionalSelectProspectusMember index:C000170274Member oef:AfterTaxesOnDistributionsAndSalesMember 2025-01-01 2025-12-31 0000036405 index:InstitutionalSelectProspectusMember index:C000170274Member oef:AfterTaxesOnDistributionsAndSalesMember 2021-01-01 2025-12-31 0000036405 index:InstitutionalSelectProspectusMember index:C000170274Member oef:AfterTaxesOnDistributionsAndSalesMember 2016-06-24 2025-12-31 0000036405 index:InstitutionalSelectProspectusMember index:StandardandPoors500IndexMember 2025-01-01 2025-12-31 0000036405 index:InstitutionalSelectProspectusMember index:StandardandPoors500IndexMember 2021-01-01 2025-12-31 0000036405 index:InstitutionalSelectProspectusMember index:StandardandPoors500IndexMember 2016-06-24 2025-12-31 0000036405 index:InstitutionalSelectProspectusMember index:DowJonesUSTotalStockMarketFloatAdjustedIndexMember 2016-06-24 2025-12-31 0000036405 index:ETFProspectusMember index:S000002839Member 2025-12-31 2025-12-31 0000036405 index:ETFProspectusMember index:S000002839Member index:C000092055Member 2025-12-31 2025-12-31 0000036405 index:ETFProspectusMember index:S000002839Member oef:RiskLoseMoneyMember 2025-12-31 2025-12-31 0000036405 index:ETFProspectusMember index:S000002839Member index:GeneralMarketRiskMember 2025-12-31 2025-12-31 0000036405 index:ETFProspectusMember index:S000002839Member index:InvestingInEquityMarketsRiskMember 2025-12-31 2025-12-31 0000036405 index:ETFProspectusMember index:S000002839Member index:MarketCapitalizationRiskMember 2025-12-31 2025-12-31 0000036405 index:ETFProspectusMember index:S000002839Member index:IndexInvestingRiskMember 2025-12-31 2025-12-31 0000036405 index:ETFProspectusMember index:S000002839Member index:NondiversificationRiskMember 2025-12-31 2025-12-31 0000036405 index:ETFProspectusMember index:S000002839Member index:ConcentrationRiskMember 2025-12-31 2025-12-31 0000036405 index:ETFProspectusMember index:S000002839Member index:SectorRiskMember 2025-12-31 2025-12-31 0000036405 index:ETFProspectusMember index:S000002839Member index:ETFShareTradingRiskMember 2025-12-31 2025-12-31 0000036405 index:ETFProspectusMember index:S000002839Member index:AuthorizedParticipantsRiskMember 2025-12-31 2025-12-31 0000036405 index:ETFProspectusMember index:S000002839Member oef:RiskNotInsuredDepositoryInstitutionMember 2025-12-31 2025-12-31 0000036405 index:ETFProspectusMember index:C000092055Member index:BasedonNAVMember 2025-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:C000092055Member index:BasedonNAVMember 2021-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:C000092055Member index:BasedonNAVMember 2016-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:C000092055Member oef:AfterTaxesOnDistributionsMember 2025-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:C000092055Member oef:AfterTaxesOnDistributionsMember 2021-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:C000092055Member oef:AfterTaxesOnDistributionsMember 2016-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:C000092055Member oef:AfterTaxesOnDistributionsAndSalesMember 2025-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:C000092055Member oef:AfterTaxesOnDistributionsAndSalesMember 2021-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:C000092055Member oef:AfterTaxesOnDistributionsAndSalesMember 2016-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:C000092055Member index:BasedonMarketPriceMember 2025-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:C000092055Member index:BasedonMarketPriceMember 2021-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:C000092055Member index:BasedonMarketPriceMember 2016-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:StandardandPoors500IndexMember 2025-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:StandardandPoors500IndexMember 2021-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:StandardandPoors500IndexMember 2016-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:DowJonesUSTotalStockMarketFloatAdjustedIndexMember 2025-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:DowJonesUSTotalStockMarketFloatAdjustedIndexMember 2021-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:DowJonesUSTotalStockMarketFloatAdjustedIndexMember 2016-01-01 2025-12-31 0000036405 index:InvestorProspectusMember index:S000002848Member 2025-12-31 2025-12-31 0000036405 index:InvestorProspectusMember index:S000002848Member index:C000007805Member 2025-12-31 2025-12-31 0000036405 index:InvestorProspectusMember index:S000002848Member oef:RiskLoseMoneyMember 2025-12-31 2025-12-31 0000036405 index:InvestorProspectusMember index:S000002848Member index:GeneralMarketRiskMember 2025-12-31 2025-12-31 0000036405 index:InvestorProspectusMember index:S000002848Member index:InvestingInEquityMarketsRiskMember 2025-12-31 2025-12-31 0000036405 index:InvestorProspectusMember index:S000002848Member index:MarketCapitalizationRiskMember 2025-12-31 2025-12-31 0000036405 index:InvestorProspectusMember index:S000002848Member index:IndexInvestingRiskMember 2025-12-31 2025-12-31 0000036405 index:InvestorProspectusMember index:S000002848Member index:NondiversificationRiskMember 2025-12-31 2025-12-31 0000036405 index:InvestorProspectusMember index:S000002848Member index:ConcentrationRiskMember 2025-12-31 2025-12-31 0000036405 index:InvestorProspectusMember index:S000002848Member index:SectorRiskMember 2025-12-31 2025-12-31 0000036405 index:InvestorProspectusMember index:S000002848Member oef:RiskNotInsuredDepositoryInstitutionMember 2025-12-31 2025-12-31 0000036405 index:InvestorProspectusMember index:C000007805Member 2025-01-01 2025-12-31 0000036405 index:InvestorProspectusMember index:C000007805Member 2021-01-01 2025-12-31 0000036405 index:InvestorProspectusMember index:C000007805Member 2016-01-01 2025-12-31 0000036405 index:InvestorProspectusMember index:C000007805Member oef:AfterTaxesOnDistributionsMember 2025-01-01 2025-12-31 0000036405 index:InvestorProspectusMember index:C000007805Member oef:AfterTaxesOnDistributionsMember 2021-01-01 2025-12-31 0000036405 index:InvestorProspectusMember index:C000007805Member oef:AfterTaxesOnDistributionsMember 2016-01-01 2025-12-31 0000036405 index:InvestorProspectusMember index:C000007805Member oef:AfterTaxesOnDistributionsAndSalesMember 2025-01-01 2025-12-31 0000036405 index:InvestorProspectusMember index:C000007805Member oef:AfterTaxesOnDistributionsAndSalesMember 2021-01-01 2025-12-31 0000036405 index:InvestorProspectusMember index:C000007805Member oef:AfterTaxesOnDistributionsAndSalesMember 2016-01-01 2025-12-31 0000036405 index:InvestorProspectusMember index:CRSPUSTotalMarketIndexMember 2025-01-01 2025-12-31 0000036405 index:InvestorProspectusMember index:CRSPUSTotalMarketIndexMember 2021-01-01 2025-12-31 0000036405 index:InvestorProspectusMember index:CRSPUSTotalMarketIndexMember 2016-01-01 2025-12-31 0000036405 index:InvestorProspectusMember index:S000002843Member 2025-12-31 2025-12-31 0000036405 index:InvestorProspectusMember index:S000002843Member index:C000007787Member 2025-12-31 2025-12-31 0000036405 index:InvestorProspectusMember index:S000002843Member oef:RiskLoseMoneyMember 2025-12-31 2025-12-31 0000036405 index:InvestorProspectusMember index:S000002843Member index:GeneralMarketRiskMember 2025-12-31 2025-12-31 0000036405 index:InvestorProspectusMember index:S000002843Member index:InvestingInEquityMarketsRiskMember 2025-12-31 2025-12-31 0000036405 index:InvestorProspectusMember index:S000002843Member index:MarketCapitalizationRiskMember 2025-12-31 2025-12-31 0000036405 index:InvestorProspectusMember index:S000002843Member index:IndexInvestingRiskMember 2025-12-31 2025-12-31 0000036405 index:InvestorProspectusMember index:S000002843Member index:NondiversificationRiskMember 2025-12-31 2025-12-31 0000036405 index:InvestorProspectusMember index:S000002843Member index:ConcentrationRiskMember 2025-12-31 2025-12-31 0000036405 index:InvestorProspectusMember index:S000002843Member index:SectorRiskMember 2025-12-31 2025-12-31 0000036405 index:InvestorProspectusMember index:S000002843Member oef:RiskNotInsuredDepositoryInstitutionMember 2025-12-31 2025-12-31 0000036405 index:InvestorProspectusMember index:C000007787Member 2025-01-01 2025-12-31 0000036405 index:InvestorProspectusMember index:C000007787Member 2021-01-01 2025-12-31 0000036405 index:InvestorProspectusMember index:C000007787Member 2016-01-01 2025-12-31 0000036405 index:InvestorProspectusMember index:C000007787Member oef:AfterTaxesOnDistributionsMember 2025-01-01 2025-12-31 0000036405 index:InvestorProspectusMember index:C000007787Member oef:AfterTaxesOnDistributionsMember 2021-01-01 2025-12-31 0000036405 index:InvestorProspectusMember index:C000007787Member oef:AfterTaxesOnDistributionsMember 2016-01-01 2025-12-31 0000036405 index:InvestorProspectusMember index:C000007787Member oef:AfterTaxesOnDistributionsAndSalesMember 2025-01-01 2025-12-31 0000036405 index:InvestorProspectusMember index:C000007787Member oef:AfterTaxesOnDistributionsAndSalesMember 2021-01-01 2025-12-31 0000036405 index:InvestorProspectusMember index:C000007787Member oef:AfterTaxesOnDistributionsAndSalesMember 2016-01-01 2025-12-31 0000036405 index:InvestorProspectusMember index:CRSPUSLargeCapIndexMember 2025-01-01 2025-12-31 0000036405 index:InvestorProspectusMember index:CRSPUSLargeCapIndexMember 2021-01-01 2025-12-31 0000036405 index:InvestorProspectusMember index:CRSPUSLargeCapIndexMember 2016-01-01 2025-12-31 0000036405 index:InvestorProspectusMember index:S000002840Member 2025-12-31 2025-12-31 0000036405 index:InvestorProspectusMember index:S000002840Member index:C000007775Member 2025-12-31 2025-12-31 0000036405 index:InvestorProspectusMember index:S000002840Member oef:RiskLoseMoneyMember 2025-12-31 2025-12-31 0000036405 index:InvestorProspectusMember index:S000002840Member index:GeneralMarketRiskMember 2025-12-31 2025-12-31 0000036405 index:InvestorProspectusMember index:S000002840Member index:InvestingInEquityMarketsRiskMember 2025-12-31 2025-12-31 0000036405 index:InvestorProspectusMember index:S000002840Member index:MarketCapitalizationRiskMember 2025-12-31 2025-12-31 0000036405 index:InvestorProspectusMember index:S000002840Member index:ValueInvestingRiskMember 2025-12-31 2025-12-31 0000036405 index:InvestorProspectusMember index:S000002840Member index:IndexInvestingRiskMember 2025-12-31 2025-12-31 0000036405 index:InvestorProspectusMember index:S000002840Member index:ConcentrationRiskMember 2025-12-31 2025-12-31 0000036405 index:InvestorProspectusMember index:S000002840Member oef:RiskNotInsuredDepositoryInstitutionMember 2025-12-31 2025-12-31 0000036405 index:InvestorProspectusMember index:C000007775Member 2025-01-01 2025-12-31 0000036405 index:InvestorProspectusMember index:C000007775Member 2021-01-01 2025-12-31 0000036405 index:InvestorProspectusMember index:C000007775Member 2016-01-01 2025-12-31 0000036405 index:InvestorProspectusMember index:C000007775Member oef:AfterTaxesOnDistributionsMember 2025-01-01 2025-12-31 0000036405 index:InvestorProspectusMember index:C000007775Member oef:AfterTaxesOnDistributionsMember 2021-01-01 2025-12-31 0000036405 index:InvestorProspectusMember index:C000007775Member oef:AfterTaxesOnDistributionsMember 2016-01-01 2025-12-31 0000036405 index:InvestorProspectusMember index:C000007775Member oef:AfterTaxesOnDistributionsAndSalesMember 2025-01-01 2025-12-31 0000036405 index:InvestorProspectusMember index:C000007775Member oef:AfterTaxesOnDistributionsAndSalesMember 2021-01-01 2025-12-31 0000036405 index:InvestorProspectusMember index:C000007775Member oef:AfterTaxesOnDistributionsAndSalesMember 2016-01-01 2025-12-31 0000036405 index:InvestorProspectusMember index:CRSPUSLargeCapValueIndexMember 2025-01-01 2025-12-31 0000036405 index:InvestorProspectusMember index:CRSPUSLargeCapValueIndexMember 2021-01-01 2025-12-31 0000036405 index:InvestorProspectusMember index:CRSPUSLargeCapValueIndexMember 2016-01-01 2025-12-31 0000036405 index:InvestorProspectusMember index:S000002842Member 2025-12-31 2025-12-31 0000036405 index:InvestorProspectusMember index:S000002842Member index:C000007783Member 2025-12-31 2025-12-31 0000036405 index:InvestorProspectusMember index:S000002842Member oef:RiskLoseMoneyMember 2025-12-31 2025-12-31 0000036405 index:InvestorProspectusMember index:S000002842Member index:GeneralMarketRiskMember 2025-12-31 2025-12-31 0000036405 index:InvestorProspectusMember index:S000002842Member index:InvestingInEquityMarketsRiskMember 2025-12-31 2025-12-31 0000036405 index:InvestorProspectusMember index:S000002842Member index:MarketCapitalizationRiskMember 2025-12-31 2025-12-31 0000036405 index:InvestorProspectusMember index:S000002842Member index:GrowthInvestingRiskMember 2025-12-31 2025-12-31 0000036405 index:InvestorProspectusMember index:S000002842Member index:IndexInvestingRiskMember 2025-12-31 2025-12-31 0000036405 index:InvestorProspectusMember index:S000002842Member index:NondiversificationRiskMember 2025-12-31 2025-12-31 0000036405 index:InvestorProspectusMember index:S000002842Member index:ConcentrationRiskMember 2025-12-31 2025-12-31 0000036405 index:InvestorProspectusMember index:S000002842Member index:SectorRiskMember 2025-12-31 2025-12-31 0000036405 index:InvestorProspectusMember index:S000002842Member oef:RiskNotInsuredDepositoryInstitutionMember 2025-12-31 2025-12-31 0000036405 index:InvestorProspectusMember index:C000007783Member 2025-01-01 2025-12-31 0000036405 index:InvestorProspectusMember index:C000007783Member 2021-01-01 2025-12-31 0000036405 index:InvestorProspectusMember index:C000007783Member 2016-01-01 2025-12-31 0000036405 index:InvestorProspectusMember index:C000007783Member oef:AfterTaxesOnDistributionsMember 2025-01-01 2025-12-31 0000036405 index:InvestorProspectusMember index:C000007783Member oef:AfterTaxesOnDistributionsMember 2021-01-01 2025-12-31 0000036405 index:InvestorProspectusMember index:C000007783Member oef:AfterTaxesOnDistributionsMember 2016-01-01 2025-12-31 0000036405 index:InvestorProspectusMember index:C000007783Member oef:AfterTaxesOnDistributionsAndSalesMember 2025-01-01 2025-12-31 0000036405 index:InvestorProspectusMember index:C000007783Member oef:AfterTaxesOnDistributionsAndSalesMember 2021-01-01 2025-12-31 0000036405 index:InvestorProspectusMember index:C000007783Member oef:AfterTaxesOnDistributionsAndSalesMember 2016-01-01 2025-12-31 0000036405 index:InvestorProspectusMember index:CRSPUSLargeCapGrowthIndexMember 2025-01-01 2025-12-31 0000036405 index:InvestorProspectusMember index:CRSPUSLargeCapGrowthIndexMember 2021-01-01 2025-12-31 0000036405 index:InvestorProspectusMember index:CRSPUSLargeCapGrowthIndexMember 2016-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:S000002848Member 2025-12-31 2025-12-31 0000036405 index:AdmiralProspectusMember index:S000002848Member index:C000007806Member 2025-12-31 2025-12-31 0000036405 index:AdmiralProspectusMember index:S000002848Member oef:RiskLoseMoneyMember 2025-12-31 2025-12-31 0000036405 index:AdmiralProspectusMember index:S000002848Member index:GeneralMarketRiskMember 2025-12-31 2025-12-31 0000036405 index:AdmiralProspectusMember index:S000002848Member index:InvestingInEquityMarketsRiskMember 2025-12-31 2025-12-31 0000036405 index:AdmiralProspectusMember index:S000002848Member index:MarketCapitalizationRiskMember 2025-12-31 2025-12-31 0000036405 index:AdmiralProspectusMember index:S000002848Member index:IndexInvestingRiskMember 2025-12-31 2025-12-31 0000036405 index:AdmiralProspectusMember index:S000002848Member index:NondiversificationRiskMember 2025-12-31 2025-12-31 0000036405 index:AdmiralProspectusMember index:S000002848Member index:ConcentrationRiskMember 2025-12-31 2025-12-31 0000036405 index:AdmiralProspectusMember index:S000002848Member index:SectorRiskMember 2025-12-31 2025-12-31 0000036405 index:AdmiralProspectusMember index:S000002848Member oef:RiskNotInsuredDepositoryInstitutionMember 2025-12-31 2025-12-31 0000036405 index:AdmiralProspectusMember index:C000007806Member 2025-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:C000007806Member 2021-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:C000007806Member 2016-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:C000007806Member oef:AfterTaxesOnDistributionsMember 2025-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:C000007806Member oef:AfterTaxesOnDistributionsMember 2021-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:C000007806Member oef:AfterTaxesOnDistributionsMember 2016-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:C000007806Member oef:AfterTaxesOnDistributionsAndSalesMember 2025-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:C000007806Member oef:AfterTaxesOnDistributionsAndSalesMember 2021-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:C000007806Member oef:AfterTaxesOnDistributionsAndSalesMember 2016-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:CRSPUSTotalMarketIndexMember 2025-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:CRSPUSTotalMarketIndexMember 2021-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:CRSPUSTotalMarketIndexMember 2016-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:S000002843Member 2025-12-31 2025-12-31 0000036405 index:AdmiralProspectusMember index:S000002843Member index:C000007788Member 2025-12-31 2025-12-31 0000036405 index:AdmiralProspectusMember index:S000002843Member oef:RiskLoseMoneyMember 2025-12-31 2025-12-31 0000036405 index:AdmiralProspectusMember index:S000002843Member index:GeneralMarketRiskMember 2025-12-31 2025-12-31 0000036405 index:AdmiralProspectusMember index:S000002843Member index:InvestingInEquityMarketsRiskMember 2025-12-31 2025-12-31 0000036405 index:AdmiralProspectusMember index:S000002843Member index:MarketCapitalizationRiskMember 2025-12-31 2025-12-31 0000036405 index:AdmiralProspectusMember index:S000002843Member index:IndexInvestingRiskMember 2025-12-31 2025-12-31 0000036405 index:AdmiralProspectusMember index:S000002843Member index:NondiversificationRiskMember 2025-12-31 2025-12-31 0000036405 index:AdmiralProspectusMember index:S000002843Member index:ConcentrationRiskMember 2025-12-31 2025-12-31 0000036405 index:AdmiralProspectusMember index:S000002843Member index:SectorRiskMember 2025-12-31 2025-12-31 0000036405 index:AdmiralProspectusMember index:S000002843Member oef:RiskNotInsuredDepositoryInstitutionMember 2025-12-31 2025-12-31 0000036405 index:AdmiralProspectusMember index:C000007788Member 2025-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:C000007788Member 2021-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:C000007788Member 2016-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:C000007788Member oef:AfterTaxesOnDistributionsMember 2025-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:C000007788Member oef:AfterTaxesOnDistributionsMember 2021-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:C000007788Member oef:AfterTaxesOnDistributionsMember 2016-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:C000007788Member oef:AfterTaxesOnDistributionsAndSalesMember 2025-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:C000007788Member oef:AfterTaxesOnDistributionsAndSalesMember 2021-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:C000007788Member oef:AfterTaxesOnDistributionsAndSalesMember 2016-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:CRSPUSLargeCapIndexMember 2025-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:CRSPUSLargeCapIndexMember 2021-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:CRSPUSLargeCapIndexMember 2016-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:S000002840Member 2025-12-31 2025-12-31 0000036405 index:AdmiralProspectusMember index:S000002840Member index:C000007776Member 2025-12-31 2025-12-31 0000036405 index:AdmiralProspectusMember index:S000002840Member oef:RiskLoseMoneyMember 2025-12-31 2025-12-31 0000036405 index:AdmiralProspectusMember index:S000002840Member index:GeneralMarketRiskMember 2025-12-31 2025-12-31 0000036405 index:AdmiralProspectusMember index:S000002840Member index:InvestingInEquityMarketsRiskMember 2025-12-31 2025-12-31 0000036405 index:AdmiralProspectusMember index:S000002840Member index:MarketCapitalizationRiskMember 2025-12-31 2025-12-31 0000036405 index:AdmiralProspectusMember index:S000002840Member index:ValueInvestingRiskMember 2025-12-31 2025-12-31 0000036405 index:AdmiralProspectusMember index:S000002840Member index:IndexInvestingRiskMember 2025-12-31 2025-12-31 0000036405 index:AdmiralProspectusMember index:S000002840Member index:ConcentrationRiskMember 2025-12-31 2025-12-31 0000036405 index:AdmiralProspectusMember index:S000002840Member oef:RiskNotInsuredDepositoryInstitutionMember 2025-12-31 2025-12-31 0000036405 index:AdmiralProspectusMember index:C000007776Member 2025-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:C000007776Member 2021-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:C000007776Member 2016-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:C000007776Member oef:AfterTaxesOnDistributionsMember 2025-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:C000007776Member oef:AfterTaxesOnDistributionsMember 2021-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:C000007776Member oef:AfterTaxesOnDistributionsMember 2016-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:C000007776Member oef:AfterTaxesOnDistributionsAndSalesMember 2025-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:C000007776Member oef:AfterTaxesOnDistributionsAndSalesMember 2021-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:C000007776Member oef:AfterTaxesOnDistributionsAndSalesMember 2016-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:CRSPUSLargeCapValueIndexMember 2025-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:CRSPUSLargeCapValueIndexMember 2021-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:CRSPUSLargeCapValueIndexMember 2016-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:S000002842Member 2025-12-31 2025-12-31 0000036405 index:AdmiralProspectusMember index:S000002842Member index:C000007784Member 2025-12-31 2025-12-31 0000036405 index:AdmiralProspectusMember index:S000002842Member oef:RiskLoseMoneyMember 2025-12-31 2025-12-31 0000036405 index:AdmiralProspectusMember index:S000002842Member index:GeneralMarketRiskMember 2025-12-31 2025-12-31 0000036405 index:AdmiralProspectusMember index:S000002842Member index:InvestingInEquityMarketsRiskMember 2025-12-31 2025-12-31 0000036405 index:AdmiralProspectusMember index:S000002842Member index:MarketCapitalizationRiskMember 2025-12-31 2025-12-31 0000036405 index:AdmiralProspectusMember index:S000002842Member index:GrowthInvestingRiskMember 2025-12-31 2025-12-31 0000036405 index:AdmiralProspectusMember index:S000002842Member index:IndexInvestingRiskMember 2025-12-31 2025-12-31 0000036405 index:AdmiralProspectusMember index:S000002842Member index:NondiversificationRiskMember 2025-12-31 2025-12-31 0000036405 index:AdmiralProspectusMember index:S000002842Member index:ConcentrationRiskMember 2025-12-31 2025-12-31 0000036405 index:AdmiralProspectusMember index:S000002842Member index:SectorRiskMember 2025-12-31 2025-12-31 0000036405 index:AdmiralProspectusMember index:S000002842Member oef:RiskNotInsuredDepositoryInstitutionMember 2025-12-31 2025-12-31 0000036405 index:AdmiralProspectusMember index:C000007784Member 2025-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:C000007784Member 2021-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:C000007784Member 2016-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:C000007784Member oef:AfterTaxesOnDistributionsMember 2025-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:C000007784Member oef:AfterTaxesOnDistributionsMember 2021-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:C000007784Member oef:AfterTaxesOnDistributionsMember 2016-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:C000007784Member oef:AfterTaxesOnDistributionsAndSalesMember 2025-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:C000007784Member oef:AfterTaxesOnDistributionsAndSalesMember 2021-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:C000007784Member oef:AfterTaxesOnDistributionsAndSalesMember 2016-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:CRSPUSLargeCapGrowthIndexMember 2025-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:CRSPUSLargeCapGrowthIndexMember 2021-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:CRSPUSLargeCapGrowthIndexMember 2016-01-01 2025-12-31 0000036405 index:InstitutionalProspectusMember index:S000002848Member 2025-12-31 2025-12-31 0000036405 index:InstitutionalProspectusMember index:S000002848Member index:C000007807Member 2025-12-31 2025-12-31 0000036405 index:InstitutionalProspectusMember index:S000002848Member index:C000155407Member 2025-12-31 2025-12-31 0000036405 index:InstitutionalProspectusMember index:S000002848Member oef:RiskLoseMoneyMember 2025-12-31 2025-12-31 0000036405 index:InstitutionalProspectusMember index:S000002848Member index:GeneralMarketRiskMember 2025-12-31 2025-12-31 0000036405 index:InstitutionalProspectusMember index:S000002848Member index:InvestingInEquityMarketsRiskMember 2025-12-31 2025-12-31 0000036405 index:InstitutionalProspectusMember index:S000002848Member index:MarketCapitalizationRiskMember 2025-12-31 2025-12-31 0000036405 index:InstitutionalProspectusMember index:S000002848Member index:IndexInvestingRiskMember 2025-12-31 2025-12-31 0000036405 index:InstitutionalProspectusMember index:S000002848Member index:NondiversificationRiskMember 2025-12-31 2025-12-31 0000036405 index:InstitutionalProspectusMember index:S000002848Member index:ConcentrationRiskMember 2025-12-31 2025-12-31 0000036405 index:InstitutionalProspectusMember index:S000002848Member index:SectorRiskMember 2025-12-31 2025-12-31 0000036405 index:InstitutionalProspectusMember index:S000002848Member oef:RiskNotInsuredDepositoryInstitutionMember 2025-12-31 2025-12-31 0000036405 index:InstitutionalProspectusMember index:C000007807Member 2025-01-01 2025-12-31 0000036405 index:InstitutionalProspectusMember index:C000007807Member 2021-01-01 2025-12-31 0000036405 index:InstitutionalProspectusMember index:C000007807Member 2016-01-01 2025-12-31 0000036405 index:InstitutionalProspectusMember index:C000007807Member oef:AfterTaxesOnDistributionsMember 2025-01-01 2025-12-31 0000036405 index:InstitutionalProspectusMember index:C000007807Member oef:AfterTaxesOnDistributionsMember 2021-01-01 2025-12-31 0000036405 index:InstitutionalProspectusMember index:C000007807Member oef:AfterTaxesOnDistributionsMember 2016-01-01 2025-12-31 0000036405 index:InstitutionalProspectusMember index:C000007807Member oef:AfterTaxesOnDistributionsAndSalesMember 2025-01-01 2025-12-31 0000036405 index:InstitutionalProspectusMember index:C000007807Member oef:AfterTaxesOnDistributionsAndSalesMember 2021-01-01 2025-12-31 0000036405 index:InstitutionalProspectusMember index:C000007807Member oef:AfterTaxesOnDistributionsAndSalesMember 2016-01-01 2025-12-31 0000036405 index:InstitutionalProspectusMember index:C000155407Member 2025-01-01 2025-12-31 0000036405 index:InstitutionalProspectusMember index:C000155407Member 2021-01-01 2025-12-31 0000036405 index:InstitutionalProspectusMember index:C000155407Member 2016-01-01 2025-12-31 0000036405 index:InstitutionalProspectusMember index:CRSPUSTotalMarketIndexMember 2025-01-01 2025-12-31 0000036405 index:InstitutionalProspectusMember index:CRSPUSTotalMarketIndexMember 2021-01-01 2025-12-31 0000036405 index:InstitutionalProspectusMember index:CRSPUSTotalMarketIndexMember 2016-01-01 2025-12-31 0000036405 index:InstitutionalProspectusMember index:DowJonesUSTotalStockMarketFloatAdjustedIndexMember 2025-01-01 2025-12-31 0000036405 index:InstitutionalProspectusMember index:DowJonesUSTotalStockMarketFloatAdjustedIndexMember 2021-01-01 2025-12-31 0000036405 index:InstitutionalProspectusMember index:DowJonesUSTotalStockMarketFloatAdjustedIndexMember 2016-01-01 2025-12-31 0000036405 index:InstitutionalProspectusMember index:S000002843Member 2025-12-31 2025-12-31 0000036405 index:InstitutionalProspectusMember index:S000002843Member index:C000007789Member 2025-12-31 2025-12-31 0000036405 index:InstitutionalProspectusMember index:S000002843Member oef:RiskLoseMoneyMember 2025-12-31 2025-12-31 0000036405 index:InstitutionalProspectusMember index:S000002843Member index:GeneralMarketRiskMember 2025-12-31 2025-12-31 0000036405 index:InstitutionalProspectusMember index:S000002843Member index:InvestingInEquityMarketsRiskMember 2025-12-31 2025-12-31 0000036405 index:InstitutionalProspectusMember index:S000002843Member index:MarketCapitalizationRiskMember 2025-12-31 2025-12-31 0000036405 index:InstitutionalProspectusMember index:S000002843Member index:IndexInvestingRiskMember 2025-12-31 2025-12-31 0000036405 index:InstitutionalProspectusMember index:S000002843Member index:NondiversificationRiskMember 2025-12-31 2025-12-31 0000036405 index:InstitutionalProspectusMember index:S000002843Member index:ConcentrationRiskMember 2025-12-31 2025-12-31 0000036405 index:InstitutionalProspectusMember index:S000002843Member index:SectorRiskMember 2025-12-31 2025-12-31 0000036405 index:InstitutionalProspectusMember index:S000002843Member oef:RiskNotInsuredDepositoryInstitutionMember 2025-12-31 2025-12-31 0000036405 index:InstitutionalProspectusMember index:C000007789Member 2025-01-01 2025-12-31 0000036405 index:InstitutionalProspectusMember index:C000007789Member 2021-01-01 2025-12-31 0000036405 index:InstitutionalProspectusMember index:C000007789Member 2016-01-01 2025-12-31 0000036405 index:InstitutionalProspectusMember index:C000007789Member oef:AfterTaxesOnDistributionsMember 2025-01-01 2025-12-31 0000036405 index:InstitutionalProspectusMember index:C000007789Member oef:AfterTaxesOnDistributionsMember 2021-01-01 2025-12-31 0000036405 index:InstitutionalProspectusMember index:C000007789Member oef:AfterTaxesOnDistributionsMember 2016-01-01 2025-12-31 0000036405 index:InstitutionalProspectusMember index:C000007789Member oef:AfterTaxesOnDistributionsAndSalesMember 2025-01-01 2025-12-31 0000036405 index:InstitutionalProspectusMember index:C000007789Member oef:AfterTaxesOnDistributionsAndSalesMember 2021-01-01 2025-12-31 0000036405 index:InstitutionalProspectusMember index:C000007789Member oef:AfterTaxesOnDistributionsAndSalesMember 2016-01-01 2025-12-31 0000036405 index:InstitutionalProspectusMember index:CRSPUSLargeCapIndexMember 2025-01-01 2025-12-31 0000036405 index:InstitutionalProspectusMember index:CRSPUSLargeCapIndexMember 2021-01-01 2025-12-31 0000036405 index:InstitutionalProspectusMember index:CRSPUSLargeCapIndexMember 2016-01-01 2025-12-31 0000036405 index:InstitutionalProspectusMember index:S000002840Member 2025-12-31 2025-12-31 0000036405 index:InstitutionalProspectusMember index:S000002840Member index:C000007777Member 2025-12-31 2025-12-31 0000036405 index:InstitutionalProspectusMember index:S000002840Member oef:RiskLoseMoneyMember 2025-12-31 2025-12-31 0000036405 index:InstitutionalProspectusMember index:S000002840Member index:GeneralMarketRiskMember 2025-12-31 2025-12-31 0000036405 index:InstitutionalProspectusMember index:S000002840Member index:InvestingInEquityMarketsRiskMember 2025-12-31 2025-12-31 0000036405 index:InstitutionalProspectusMember index:S000002840Member index:MarketCapitalizationRiskMember 2025-12-31 2025-12-31 0000036405 index:InstitutionalProspectusMember index:S000002840Member index:ValueInvestingRiskMember 2025-12-31 2025-12-31 0000036405 index:InstitutionalProspectusMember index:S000002840Member index:IndexInvestingRiskMember 2025-12-31 2025-12-31 0000036405 index:InstitutionalProspectusMember index:S000002840Member index:ConcentrationRiskMember 2025-12-31 2025-12-31 0000036405 index:InstitutionalProspectusMember index:S000002840Member oef:RiskNotInsuredDepositoryInstitutionMember 2025-12-31 2025-12-31 0000036405 index:InstitutionalProspectusMember index:C000007777Member 2025-01-01 2025-12-31 0000036405 index:InstitutionalProspectusMember index:C000007777Member 2021-01-01 2025-12-31 0000036405 index:InstitutionalProspectusMember index:C000007777Member 2016-01-01 2025-12-31 0000036405 index:InstitutionalProspectusMember index:C000007777Member oef:AfterTaxesOnDistributionsMember 2025-01-01 2025-12-31 0000036405 index:InstitutionalProspectusMember index:C000007777Member oef:AfterTaxesOnDistributionsMember 2021-01-01 2025-12-31 0000036405 index:InstitutionalProspectusMember index:C000007777Member oef:AfterTaxesOnDistributionsMember 2016-01-01 2025-12-31 0000036405 index:InstitutionalProspectusMember index:C000007777Member oef:AfterTaxesOnDistributionsAndSalesMember 2025-01-01 2025-12-31 0000036405 index:InstitutionalProspectusMember index:C000007777Member oef:AfterTaxesOnDistributionsAndSalesMember 2021-01-01 2025-12-31 0000036405 index:InstitutionalProspectusMember index:C000007777Member oef:AfterTaxesOnDistributionsAndSalesMember 2016-01-01 2025-12-31 0000036405 index:InstitutionalProspectusMember index:CRSPUSLargeCapValueIndexMember 2025-01-01 2025-12-31 0000036405 index:InstitutionalProspectusMember index:CRSPUSLargeCapValueIndexMember 2021-01-01 2025-12-31 0000036405 index:InstitutionalProspectusMember index:CRSPUSLargeCapValueIndexMember 2016-01-01 2025-12-31 0000036405 index:InstitutionalProspectusMember index:S000002842Member 2025-12-31 2025-12-31 0000036405 index:InstitutionalProspectusMember index:S000002842Member index:C000007785Member 2025-12-31 2025-12-31 0000036405 index:InstitutionalProspectusMember index:S000002842Member oef:RiskLoseMoneyMember 2025-12-31 2025-12-31 0000036405 index:InstitutionalProspectusMember index:S000002842Member index:GeneralMarketRiskMember 2025-12-31 2025-12-31 0000036405 index:InstitutionalProspectusMember index:S000002842Member index:InvestingInEquityMarketsRiskMember 2025-12-31 2025-12-31 0000036405 index:InstitutionalProspectusMember index:S000002842Member index:MarketCapitalizationRiskMember 2025-12-31 2025-12-31 0000036405 index:InstitutionalProspectusMember index:S000002842Member index:GrowthInvestingRiskMember 2025-12-31 2025-12-31 0000036405 index:InstitutionalProspectusMember index:S000002842Member index:IndexInvestingRiskMember 2025-12-31 2025-12-31 0000036405 index:InstitutionalProspectusMember index:S000002842Member index:NondiversificationRiskMember 2025-12-31 2025-12-31 0000036405 index:InstitutionalProspectusMember index:S000002842Member index:ConcentrationRiskMember 2025-12-31 2025-12-31 0000036405 index:InstitutionalProspectusMember index:S000002842Member index:SectorRiskMember 2025-12-31 2025-12-31 0000036405 index:InstitutionalProspectusMember index:S000002842Member oef:RiskNotInsuredDepositoryInstitutionMember 2025-12-31 2025-12-31 0000036405 index:InstitutionalProspectusMember index:C000007785Member 2025-01-01 2025-12-31 0000036405 index:InstitutionalProspectusMember index:C000007785Member 2021-01-01 2025-12-31 0000036405 index:InstitutionalProspectusMember index:C000007785Member 2016-01-01 2025-12-31 0000036405 index:InstitutionalProspectusMember index:C000007785Member oef:AfterTaxesOnDistributionsMember 2025-01-01 2025-12-31 0000036405 index:InstitutionalProspectusMember index:C000007785Member oef:AfterTaxesOnDistributionsMember 2021-01-01 2025-12-31 0000036405 index:InstitutionalProspectusMember index:C000007785Member oef:AfterTaxesOnDistributionsMember 2016-01-01 2025-12-31 0000036405 index:InstitutionalProspectusMember index:C000007785Member oef:AfterTaxesOnDistributionsAndSalesMember 2025-01-01 2025-12-31 0000036405 index:InstitutionalProspectusMember index:C000007785Member oef:AfterTaxesOnDistributionsAndSalesMember 2021-01-01 2025-12-31 0000036405 index:InstitutionalProspectusMember index:C000007785Member oef:AfterTaxesOnDistributionsAndSalesMember 2016-01-01 2025-12-31 0000036405 index:InstitutionalProspectusMember index:CRSPUSLargeCapGrowthIndexMember 2025-01-01 2025-12-31 0000036405 index:InstitutionalProspectusMember index:CRSPUSLargeCapGrowthIndexMember 2021-01-01 2025-12-31 0000036405 index:InstitutionalProspectusMember index:CRSPUSLargeCapGrowthIndexMember 2016-01-01 2025-12-31 0000036405 index:InvestorProspectusMember index:S000002841Member 2025-12-31 2025-12-31 0000036405 index:InvestorProspectusMember index:S000002841Member index:C000007779Member 2025-12-31 2025-12-31 0000036405 index:InvestorProspectusMember index:S000002841Member oef:RiskLoseMoneyMember 2025-12-31 2025-12-31 0000036405 index:InvestorProspectusMember index:S000002841Member index:GeneralMarketRiskMember 2025-12-31 2025-12-31 0000036405 index:InvestorProspectusMember index:S000002841Member index:InvestingInEquityMarketsRiskMember 2025-12-31 2025-12-31 0000036405 index:InvestorProspectusMember index:S000002841Member index:MarketCapitalizationRiskMember 2025-12-31 2025-12-31 0000036405 index:InvestorProspectusMember index:S000002841Member index:IndexInvestingRiskMember 2025-12-31 2025-12-31 0000036405 index:InvestorProspectusMember index:S000002841Member index:ConcentrationRiskMember 2025-12-31 2025-12-31 0000036405 index:InvestorProspectusMember index:S000002841Member oef:RiskNotInsuredDepositoryInstitutionMember 2025-12-31 2025-12-31 0000036405 index:InvestorProspectusMember index:C000007779Member 2025-01-01 2025-12-31 0000036405 index:InvestorProspectusMember index:C000007779Member 2021-01-01 2025-12-31 0000036405 index:InvestorProspectusMember index:C000007779Member 2016-01-01 2025-12-31 0000036405 index:InvestorProspectusMember index:C000007779Member oef:AfterTaxesOnDistributionsMember 2025-01-01 2025-12-31 0000036405 index:InvestorProspectusMember index:C000007779Member oef:AfterTaxesOnDistributionsMember 2021-01-01 2025-12-31 0000036405 index:InvestorProspectusMember index:C000007779Member oef:AfterTaxesOnDistributionsMember 2016-01-01 2025-12-31 0000036405 index:InvestorProspectusMember index:C000007779Member oef:AfterTaxesOnDistributionsAndSalesMember 2025-01-01 2025-12-31 0000036405 index:InvestorProspectusMember index:C000007779Member oef:AfterTaxesOnDistributionsAndSalesMember 2021-01-01 2025-12-31 0000036405 index:InvestorProspectusMember index:C000007779Member oef:AfterTaxesOnDistributionsAndSalesMember 2016-01-01 2025-12-31 0000036405 index:InvestorProspectusMember index:StandardandPoorsCompletionIndexMember 2025-01-01 2025-12-31 0000036405 index:InvestorProspectusMember index:StandardandPoorsCompletionIndexMember 2021-01-01 2025-12-31 0000036405 index:InvestorProspectusMember index:StandardandPoorsCompletionIndexMember 2016-01-01 2025-12-31 0000036405 index:InvestorProspectusMember index:S000002844Member 2025-12-31 2025-12-31 0000036405 index:InvestorProspectusMember index:S000002844Member index:C000007791Member 2025-12-31 2025-12-31 0000036405 index:InvestorProspectusMember index:S000002844Member oef:RiskLoseMoneyMember 2025-12-31 2025-12-31 0000036405 index:InvestorProspectusMember index:S000002844Member index:GeneralMarketRiskMember 2025-12-31 2025-12-31 0000036405 index:InvestorProspectusMember index:S000002844Member index:InvestingInEquityMarketsRiskMember 2025-12-31 2025-12-31 0000036405 index:InvestorProspectusMember index:S000002844Member index:MarketCapitalizationRiskMember 2025-12-31 2025-12-31 0000036405 index:InvestorProspectusMember index:S000002844Member index:IndexInvestingRiskMember 2025-12-31 2025-12-31 0000036405 index:InvestorProspectusMember index:S000002844Member index:ConcentrationRiskMember 2025-12-31 2025-12-31 0000036405 index:InvestorProspectusMember index:S000002844Member oef:RiskNotInsuredDepositoryInstitutionMember 2025-12-31 2025-12-31 0000036405 index:InvestorProspectusMember index:C000007791Member 2025-01-01 2025-12-31 0000036405 index:InvestorProspectusMember index:C000007791Member 2021-01-01 2025-12-31 0000036405 index:InvestorProspectusMember index:C000007791Member 2016-01-01 2025-12-31 0000036405 index:InvestorProspectusMember index:C000007791Member oef:AfterTaxesOnDistributionsMember 2025-01-01 2025-12-31 0000036405 index:InvestorProspectusMember index:C000007791Member oef:AfterTaxesOnDistributionsMember 2021-01-01 2025-12-31 0000036405 index:InvestorProspectusMember index:C000007791Member oef:AfterTaxesOnDistributionsMember 2016-01-01 2025-12-31 0000036405 index:InvestorProspectusMember index:C000007791Member oef:AfterTaxesOnDistributionsAndSalesMember 2025-01-01 2025-12-31 0000036405 index:InvestorProspectusMember index:C000007791Member oef:AfterTaxesOnDistributionsAndSalesMember 2021-01-01 2025-12-31 0000036405 index:InvestorProspectusMember index:C000007791Member oef:AfterTaxesOnDistributionsAndSalesMember 2016-01-01 2025-12-31 0000036405 index:InvestorProspectusMember index:CRSPUSMidCapIndexMember 2025-01-01 2025-12-31 0000036405 index:InvestorProspectusMember index:CRSPUSMidCapIndexMember 2021-01-01 2025-12-31 0000036405 index:InvestorProspectusMember index:CRSPUSMidCapIndexMember 2016-01-01 2025-12-31 0000036405 index:InvestorProspectusMember index:S000012757Member 2025-12-31 2025-12-31 0000036405 index:InvestorProspectusMember index:S000012757Member index:C000034429Member 2025-12-31 2025-12-31 0000036405 index:InvestorProspectusMember index:S000012757Member oef:RiskLoseMoneyMember 2025-12-31 2025-12-31 0000036405 index:InvestorProspectusMember index:S000012757Member index:GeneralMarketRiskMember 2025-12-31 2025-12-31 0000036405 index:InvestorProspectusMember index:S000012757Member index:InvestingInEquityMarketsRiskMember 2025-12-31 2025-12-31 0000036405 index:InvestorProspectusMember index:S000012757Member index:MarketCapitalizationRiskMember 2025-12-31 2025-12-31 0000036405 index:InvestorProspectusMember index:S000012757Member index:ValueInvestingRiskMember 2025-12-31 2025-12-31 0000036405 index:InvestorProspectusMember index:S000012757Member index:IndexInvestingRiskMember 2025-12-31 2025-12-31 0000036405 index:InvestorProspectusMember index:S000012757Member index:ConcentrationRiskMember 2025-12-31 2025-12-31 0000036405 index:InvestorProspectusMember index:S000012757Member oef:RiskNotInsuredDepositoryInstitutionMember 2025-12-31 2025-12-31 0000036405 index:InvestorProspectusMember index:C000034429Member 2025-01-01 2025-12-31 0000036405 index:InvestorProspectusMember index:C000034429Member 2021-01-01 2025-12-31 0000036405 index:InvestorProspectusMember index:C000034429Member 2016-01-01 2025-12-31 0000036405 index:InvestorProspectusMember index:C000034429Member oef:AfterTaxesOnDistributionsMember 2025-01-01 2025-12-31 0000036405 index:InvestorProspectusMember index:C000034429Member oef:AfterTaxesOnDistributionsMember 2021-01-01 2025-12-31 0000036405 index:InvestorProspectusMember index:C000034429Member oef:AfterTaxesOnDistributionsMember 2016-01-01 2025-12-31 0000036405 index:InvestorProspectusMember index:C000034429Member oef:AfterTaxesOnDistributionsAndSalesMember 2025-01-01 2025-12-31 0000036405 index:InvestorProspectusMember index:C000034429Member oef:AfterTaxesOnDistributionsAndSalesMember 2021-01-01 2025-12-31 0000036405 index:InvestorProspectusMember index:C000034429Member oef:AfterTaxesOnDistributionsAndSalesMember 2016-01-01 2025-12-31 0000036405 index:InvestorProspectusMember index:CRSPUSMidCapValueIndexMember 2025-01-01 2025-12-31 0000036405 index:InvestorProspectusMember index:CRSPUSMidCapValueIndexMember 2021-01-01 2025-12-31 0000036405 index:InvestorProspectusMember index:CRSPUSMidCapValueIndexMember 2016-01-01 2025-12-31 0000036405 index:InvestorProspectusMember index:S000012756Member 2025-12-31 2025-12-31 0000036405 index:InvestorProspectusMember index:S000012756Member index:C000034427Member 2025-12-31 2025-12-31 0000036405 index:InvestorProspectusMember index:S000012756Member oef:RiskLoseMoneyMember 2025-12-31 2025-12-31 0000036405 index:InvestorProspectusMember index:S000012756Member index:GeneralMarketRiskMember 2025-12-31 2025-12-31 0000036405 index:InvestorProspectusMember index:S000012756Member index:InvestingInEquityMarketsRiskMember 2025-12-31 2025-12-31 0000036405 index:InvestorProspectusMember index:S000012756Member index:MarketCapitalizationRiskMember 2025-12-31 2025-12-31 0000036405 index:InvestorProspectusMember index:S000012756Member index:GrowthInvestingRiskMember 2025-12-31 2025-12-31 0000036405 index:InvestorProspectusMember index:S000012756Member index:IndexInvestingRiskMember 2025-12-31 2025-12-31 0000036405 index:InvestorProspectusMember index:S000012756Member index:ConcentrationRiskMember 2025-12-31 2025-12-31 0000036405 index:InvestorProspectusMember index:S000012756Member oef:RiskNotInsuredDepositoryInstitutionMember 2025-12-31 2025-12-31 0000036405 index:InvestorProspectusMember index:C000034427Member 2025-01-01 2025-12-31 0000036405 index:InvestorProspectusMember index:C000034427Member 2021-01-01 2025-12-31 0000036405 index:InvestorProspectusMember index:C000034427Member 2016-01-01 2025-12-31 0000036405 index:InvestorProspectusMember index:C000034427Member oef:AfterTaxesOnDistributionsMember 2025-01-01 2025-12-31 0000036405 index:InvestorProspectusMember index:C000034427Member oef:AfterTaxesOnDistributionsMember 2021-01-01 2025-12-31 0000036405 index:InvestorProspectusMember index:C000034427Member oef:AfterTaxesOnDistributionsMember 2016-01-01 2025-12-31 0000036405 index:InvestorProspectusMember index:C000034427Member oef:AfterTaxesOnDistributionsAndSalesMember 2025-01-01 2025-12-31 0000036405 index:InvestorProspectusMember index:C000034427Member oef:AfterTaxesOnDistributionsAndSalesMember 2021-01-01 2025-12-31 0000036405 index:InvestorProspectusMember index:C000034427Member oef:AfterTaxesOnDistributionsAndSalesMember 2016-01-01 2025-12-31 0000036405 index:InvestorProspectusMember index:CRSPUSMidCapGrowthIndexMember 2025-01-01 2025-12-31 0000036405 index:InvestorProspectusMember index:CRSPUSMidCapGrowthIndexMember 2021-01-01 2025-12-31 0000036405 index:InvestorProspectusMember index:CRSPUSMidCapGrowthIndexMember 2016-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:S000002841Member 2025-12-31 2025-12-31 0000036405 index:AdmiralProspectusMember index:S000002841Member index:C000007780Member 2025-12-31 2025-12-31 0000036405 index:AdmiralProspectusMember index:S000002841Member oef:RiskLoseMoneyMember 2025-12-31 2025-12-31 0000036405 index:AdmiralProspectusMember index:S000002841Member index:GeneralMarketRiskMember 2025-12-31 2025-12-31 0000036405 index:AdmiralProspectusMember index:S000002841Member index:InvestingInEquityMarketsRiskMember 2025-12-31 2025-12-31 0000036405 index:AdmiralProspectusMember index:S000002841Member index:MarketCapitalizationRiskMember 2025-12-31 2025-12-31 0000036405 index:AdmiralProspectusMember index:S000002841Member index:IndexInvestingRiskMember 2025-12-31 2025-12-31 0000036405 index:AdmiralProspectusMember index:S000002841Member index:ConcentrationRiskMember 2025-12-31 2025-12-31 0000036405 index:AdmiralProspectusMember index:S000002841Member oef:RiskNotInsuredDepositoryInstitutionMember 2025-12-31 2025-12-31 0000036405 index:AdmiralProspectusMember index:C000007780Member 2025-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:C000007780Member 2021-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:C000007780Member 2016-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:C000007780Member oef:AfterTaxesOnDistributionsMember 2025-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:C000007780Member oef:AfterTaxesOnDistributionsMember 2021-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:C000007780Member oef:AfterTaxesOnDistributionsMember 2016-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:C000007780Member oef:AfterTaxesOnDistributionsAndSalesMember 2025-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:C000007780Member oef:AfterTaxesOnDistributionsAndSalesMember 2021-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:C000007780Member oef:AfterTaxesOnDistributionsAndSalesMember 2016-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:StandardandPoorsCompletionIndexMember 2025-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:StandardandPoorsCompletionIndexMember 2021-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:StandardandPoorsCompletionIndexMember 2016-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:S000002844Member 2025-12-31 2025-12-31 0000036405 index:AdmiralProspectusMember index:S000002844Member index:C000007792Member 2025-12-31 2025-12-31 0000036405 index:AdmiralProspectusMember index:S000002844Member oef:RiskLoseMoneyMember 2025-12-31 2025-12-31 0000036405 index:AdmiralProspectusMember index:S000002844Member index:GeneralMarketRiskMember 2025-12-31 2025-12-31 0000036405 index:AdmiralProspectusMember index:S000002844Member index:InvestingInEquityMarketsRiskMember 2025-12-31 2025-12-31 0000036405 index:AdmiralProspectusMember index:S000002844Member index:MarketCapitalizationRiskMember 2025-12-31 2025-12-31 0000036405 index:AdmiralProspectusMember index:S000002844Member index:IndexInvestingRiskMember 2025-12-31 2025-12-31 0000036405 index:AdmiralProspectusMember index:S000002844Member index:ConcentrationRiskMember 2025-12-31 2025-12-31 0000036405 index:AdmiralProspectusMember index:S000002844Member oef:RiskNotInsuredDepositoryInstitutionMember 2025-12-31 2025-12-31 0000036405 index:AdmiralProspectusMember index:C000007792Member 2025-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:C000007792Member 2021-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:C000007792Member 2016-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:C000007792Member oef:AfterTaxesOnDistributionsMember 2025-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:C000007792Member oef:AfterTaxesOnDistributionsMember 2021-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:C000007792Member oef:AfterTaxesOnDistributionsMember 2016-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:C000007792Member oef:AfterTaxesOnDistributionsAndSalesMember 2025-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:C000007792Member oef:AfterTaxesOnDistributionsAndSalesMember 2021-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:C000007792Member oef:AfterTaxesOnDistributionsAndSalesMember 2016-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:CRSPUSMidCapIndexMember 2025-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:CRSPUSMidCapIndexMember 2021-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:CRSPUSMidCapIndexMember 2016-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:S000012757Member 2025-12-31 2025-12-31 0000036405 index:AdmiralProspectusMember index:S000012757Member index:C000105307Member 2025-12-31 2025-12-31 0000036405 index:AdmiralProspectusMember index:S000012757Member oef:RiskLoseMoneyMember 2025-12-31 2025-12-31 0000036405 index:AdmiralProspectusMember index:S000012757Member index:GeneralMarketRiskMember 2025-12-31 2025-12-31 0000036405 index:AdmiralProspectusMember index:S000012757Member index:InvestingInEquityMarketsRiskMember 2025-12-31 2025-12-31 0000036405 index:AdmiralProspectusMember index:S000012757Member index:MarketCapitalizationRiskMember 2025-12-31 2025-12-31 0000036405 index:AdmiralProspectusMember index:S000012757Member index:ValueInvestingRiskMember 2025-12-31 2025-12-31 0000036405 index:AdmiralProspectusMember index:S000012757Member index:IndexInvestingRiskMember 2025-12-31 2025-12-31 0000036405 index:AdmiralProspectusMember index:S000012757Member index:ConcentrationRiskMember 2025-12-31 2025-12-31 0000036405 index:AdmiralProspectusMember index:S000012757Member oef:RiskNotInsuredDepositoryInstitutionMember 2025-12-31 2025-12-31 0000036405 index:AdmiralProspectusMember index:C000105307Member 2025-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:C000105307Member 2021-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:C000105307Member 2016-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:C000105307Member oef:AfterTaxesOnDistributionsMember 2025-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:C000105307Member oef:AfterTaxesOnDistributionsMember 2021-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:C000105307Member oef:AfterTaxesOnDistributionsMember 2016-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:C000105307Member oef:AfterTaxesOnDistributionsAndSalesMember 2025-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:C000105307Member oef:AfterTaxesOnDistributionsAndSalesMember 2021-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:C000105307Member oef:AfterTaxesOnDistributionsAndSalesMember 2016-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:CRSPUSMidCapValueIndexMember 2025-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:CRSPUSMidCapValueIndexMember 2021-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:CRSPUSMidCapValueIndexMember 2016-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:S000012756Member 2025-12-31 2025-12-31 0000036405 index:AdmiralProspectusMember index:S000012756Member index:C000105306Member 2025-12-31 2025-12-31 0000036405 index:AdmiralProspectusMember index:S000012756Member oef:RiskLoseMoneyMember 2025-12-31 2025-12-31 0000036405 index:AdmiralProspectusMember index:S000012756Member index:GeneralMarketRiskMember 2025-12-31 2025-12-31 0000036405 index:AdmiralProspectusMember index:S000012756Member index:InvestingInEquityMarketsRiskMember 2025-12-31 2025-12-31 0000036405 index:AdmiralProspectusMember index:S000012756Member index:MarketCapitalizationRiskMember 2025-12-31 2025-12-31 0000036405 index:AdmiralProspectusMember index:S000012756Member index:GrowthInvestingRiskMember 2025-12-31 2025-12-31 0000036405 index:AdmiralProspectusMember index:S000012756Member index:IndexInvestingRiskMember 2025-12-31 2025-12-31 0000036405 index:AdmiralProspectusMember index:S000012756Member index:ConcentrationRiskMember 2025-12-31 2025-12-31 0000036405 index:AdmiralProspectusMember index:S000012756Member oef:RiskNotInsuredDepositoryInstitutionMember 2025-12-31 2025-12-31 0000036405 index:AdmiralProspectusMember index:C000105306Member 2025-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:C000105306Member 2021-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:C000105306Member 2016-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:C000105306Member oef:AfterTaxesOnDistributionsMember 2025-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:C000105306Member oef:AfterTaxesOnDistributionsMember 2021-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:C000105306Member oef:AfterTaxesOnDistributionsMember 2016-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:C000105306Member oef:AfterTaxesOnDistributionsAndSalesMember 2025-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:C000105306Member oef:AfterTaxesOnDistributionsAndSalesMember 2021-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:C000105306Member oef:AfterTaxesOnDistributionsAndSalesMember 2016-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:CRSPUSMidCapGrowthIndexMember 2025-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:CRSPUSMidCapGrowthIndexMember 2021-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:CRSPUSMidCapGrowthIndexMember 2016-01-01 2025-12-31 0000036405 index:InstitutionalProspectusMember index:S000002841Member 2025-12-31 2025-12-31 0000036405 index:InstitutionalProspectusMember index:S000002841Member index:C000007781Member 2025-12-31 2025-12-31 0000036405 index:InstitutionalProspectusMember index:S000002841Member index:C000096110Member 2025-12-31 2025-12-31 0000036405 index:InstitutionalProspectusMember index:S000002841Member oef:RiskLoseMoneyMember 2025-12-31 2025-12-31 0000036405 index:InstitutionalProspectusMember index:S000002841Member index:GeneralMarketRiskMember 2025-12-31 2025-12-31 0000036405 index:InstitutionalProspectusMember index:S000002841Member index:InvestingInEquityMarketsRiskMember 2025-12-31 2025-12-31 0000036405 index:InstitutionalProspectusMember index:S000002841Member index:MarketCapitalizationRiskMember 2025-12-31 2025-12-31 0000036405 index:InstitutionalProspectusMember index:S000002841Member index:IndexInvestingRiskMember 2025-12-31 2025-12-31 0000036405 index:InstitutionalProspectusMember index:S000002841Member index:ConcentrationRiskMember 2025-12-31 2025-12-31 0000036405 index:InstitutionalProspectusMember index:S000002841Member oef:RiskNotInsuredDepositoryInstitutionMember 2025-12-31 2025-12-31 0000036405 index:InstitutionalProspectusMember index:C000007781Member 2025-01-01 2025-12-31 0000036405 index:InstitutionalProspectusMember index:C000007781Member 2021-01-01 2025-12-31 0000036405 index:InstitutionalProspectusMember index:C000007781Member 2016-01-01 2025-12-31 0000036405 index:InstitutionalProspectusMember index:C000007781Member oef:AfterTaxesOnDistributionsMember 2025-01-01 2025-12-31 0000036405 index:InstitutionalProspectusMember index:C000007781Member oef:AfterTaxesOnDistributionsMember 2021-01-01 2025-12-31 0000036405 index:InstitutionalProspectusMember index:C000007781Member oef:AfterTaxesOnDistributionsMember 2016-01-01 2025-12-31 0000036405 index:InstitutionalProspectusMember index:C000007781Member oef:AfterTaxesOnDistributionsAndSalesMember 2025-01-01 2025-12-31 0000036405 index:InstitutionalProspectusMember index:C000007781Member oef:AfterTaxesOnDistributionsAndSalesMember 2021-01-01 2025-12-31 0000036405 index:InstitutionalProspectusMember index:C000007781Member oef:AfterTaxesOnDistributionsAndSalesMember 2016-01-01 2025-12-31 0000036405 index:InstitutionalProspectusMember index:C000096110Member 2025-01-01 2025-12-31 0000036405 index:InstitutionalProspectusMember index:C000096110Member 2021-01-01 2025-12-31 0000036405 index:InstitutionalProspectusMember index:C000096110Member 2016-01-01 2025-12-31 0000036405 index:InstitutionalProspectusMember index:StandardandPoorsCompletionIndexMember 2025-01-01 2025-12-31 0000036405 index:InstitutionalProspectusMember index:StandardandPoorsCompletionIndexMember 2021-01-01 2025-12-31 0000036405 index:InstitutionalProspectusMember index:StandardandPoorsCompletionIndexMember 2016-01-01 2025-12-31 0000036405 index:InstitutionalProspectusMember index:S000002844Member 2025-12-31 2025-12-31 0000036405 index:InstitutionalProspectusMember index:S000002844Member index:C000007793Member 2025-12-31 2025-12-31 0000036405 index:InstitutionalProspectusMember index:S000002844Member index:C000096111Member 2025-12-31 2025-12-31 0000036405 index:InstitutionalProspectusMember index:S000002844Member oef:RiskLoseMoneyMember 2025-12-31 2025-12-31 0000036405 index:InstitutionalProspectusMember index:S000002844Member index:GeneralMarketRiskMember 2025-12-31 2025-12-31 0000036405 index:InstitutionalProspectusMember index:S000002844Member index:InvestingInEquityMarketsRiskMember 2025-12-31 2025-12-31 0000036405 index:InstitutionalProspectusMember index:S000002844Member index:MarketCapitalizationRiskMember 2025-12-31 2025-12-31 0000036405 index:InstitutionalProspectusMember index:S000002844Member index:IndexInvestingRiskMember 2025-12-31 2025-12-31 0000036405 index:InstitutionalProspectusMember index:S000002844Member index:ConcentrationRiskMember 2025-12-31 2025-12-31 0000036405 index:InstitutionalProspectusMember index:S000002844Member oef:RiskNotInsuredDepositoryInstitutionMember 2025-12-31 2025-12-31 0000036405 index:InstitutionalProspectusMember index:C000007793Member 2025-01-01 2025-12-31 0000036405 index:InstitutionalProspectusMember index:C000007793Member 2021-01-01 2025-12-31 0000036405 index:InstitutionalProspectusMember index:C000007793Member 2016-01-01 2025-12-31 0000036405 index:InstitutionalProspectusMember index:C000007793Member oef:AfterTaxesOnDistributionsMember 2025-01-01 2025-12-31 0000036405 index:InstitutionalProspectusMember index:C000007793Member oef:AfterTaxesOnDistributionsMember 2021-01-01 2025-12-31 0000036405 index:InstitutionalProspectusMember index:C000007793Member oef:AfterTaxesOnDistributionsMember 2016-01-01 2025-12-31 0000036405 index:InstitutionalProspectusMember index:C000007793Member oef:AfterTaxesOnDistributionsAndSalesMember 2025-01-01 2025-12-31 0000036405 index:InstitutionalProspectusMember index:C000007793Member oef:AfterTaxesOnDistributionsAndSalesMember 2021-01-01 2025-12-31 0000036405 index:InstitutionalProspectusMember index:C000007793Member oef:AfterTaxesOnDistributionsAndSalesMember 2016-01-01 2025-12-31 0000036405 index:InstitutionalProspectusMember index:C000096111Member 2025-01-01 2025-12-31 0000036405 index:InstitutionalProspectusMember index:C000096111Member 2021-01-01 2025-12-31 0000036405 index:InstitutionalProspectusMember index:C000096111Member 2016-01-01 2025-12-31 0000036405 index:InstitutionalProspectusMember index:CRSPUSMidCapIndexMember 2025-01-01 2025-12-31 0000036405 index:InstitutionalProspectusMember index:CRSPUSMidCapIndexMember 2021-01-01 2025-12-31 0000036405 index:InstitutionalProspectusMember index:CRSPUSMidCapIndexMember 2016-01-01 2025-12-31 0000036405 index:InvestorProspectusMember index:S000002845Member 2025-12-31 2025-12-31 0000036405 index:InvestorProspectusMember index:S000002845Member index:C000007795Member 2025-12-31 2025-12-31 0000036405 index:InvestorProspectusMember index:S000002845Member oef:RiskLoseMoneyMember 2025-12-31 2025-12-31 0000036405 index:InvestorProspectusMember index:S000002845Member index:GeneralMarketRiskMember 2025-12-31 2025-12-31 0000036405 index:InvestorProspectusMember index:S000002845Member index:InvestingInEquityMarketsRiskMember 2025-12-31 2025-12-31 0000036405 index:InvestorProspectusMember index:S000002845Member index:MarketCapitalizationRiskMember 2025-12-31 2025-12-31 0000036405 index:InvestorProspectusMember index:S000002845Member index:IndexInvestingRiskMember 2025-12-31 2025-12-31 0000036405 index:InvestorProspectusMember index:S000002845Member index:ConcentrationRiskMember 2025-12-31 2025-12-31 0000036405 index:InvestorProspectusMember index:S000002845Member oef:RiskNotInsuredDepositoryInstitutionMember 2025-12-31 2025-12-31 0000036405 index:InvestorProspectusMember index:C000007795Member 2025-01-01 2025-12-31 0000036405 index:InvestorProspectusMember index:C000007795Member 2021-01-01 2025-12-31 0000036405 index:InvestorProspectusMember index:C000007795Member 2016-01-01 2025-12-31 0000036405 index:InvestorProspectusMember index:C000007795Member oef:AfterTaxesOnDistributionsMember 2025-01-01 2025-12-31 0000036405 index:InvestorProspectusMember index:C000007795Member oef:AfterTaxesOnDistributionsMember 2021-01-01 2025-12-31 0000036405 index:InvestorProspectusMember index:C000007795Member oef:AfterTaxesOnDistributionsMember 2016-01-01 2025-12-31 0000036405 index:InvestorProspectusMember index:C000007795Member oef:AfterTaxesOnDistributionsAndSalesMember 2025-01-01 2025-12-31 0000036405 index:InvestorProspectusMember index:C000007795Member oef:AfterTaxesOnDistributionsAndSalesMember 2021-01-01 2025-12-31 0000036405 index:InvestorProspectusMember index:C000007795Member oef:AfterTaxesOnDistributionsAndSalesMember 2016-01-01 2025-12-31 0000036405 index:InvestorProspectusMember index:CRSPUSSmallCapIndexMember 2025-01-01 2025-12-31 0000036405 index:InvestorProspectusMember index:CRSPUSSmallCapIndexMember 2021-01-01 2025-12-31 0000036405 index:InvestorProspectusMember index:CRSPUSSmallCapIndexMember 2016-01-01 2025-12-31 0000036405 index:InvestorProspectusMember index:S000002847Member 2025-12-31 2025-12-31 0000036405 index:InvestorProspectusMember index:S000002847Member index:C000007802Member 2025-12-31 2025-12-31 0000036405 index:InvestorProspectusMember index:S000002847Member oef:RiskLoseMoneyMember 2025-12-31 2025-12-31 0000036405 index:InvestorProspectusMember index:S000002847Member index:GeneralMarketRiskMember 2025-12-31 2025-12-31 0000036405 index:InvestorProspectusMember index:S000002847Member index:InvestingInEquityMarketsRiskMember 2025-12-31 2025-12-31 0000036405 index:InvestorProspectusMember index:S000002847Member index:MarketCapitalizationRiskMember 2025-12-31 2025-12-31 0000036405 index:InvestorProspectusMember index:S000002847Member index:ValueInvestingRiskMember 2025-12-31 2025-12-31 0000036405 index:InvestorProspectusMember index:S000002847Member index:IndexInvestingRiskMember 2025-12-31 2025-12-31 0000036405 index:InvestorProspectusMember index:S000002847Member index:ConcentrationRiskMember 2025-12-31 2025-12-31 0000036405 index:InvestorProspectusMember index:S000002847Member oef:RiskNotInsuredDepositoryInstitutionMember 2025-12-31 2025-12-31 0000036405 index:InvestorProspectusMember index:C000007802Member 2025-01-01 2025-12-31 0000036405 index:InvestorProspectusMember index:C000007802Member 2021-01-01 2025-12-31 0000036405 index:InvestorProspectusMember index:C000007802Member 2016-01-01 2025-12-31 0000036405 index:InvestorProspectusMember index:C000007802Member oef:AfterTaxesOnDistributionsMember 2025-01-01 2025-12-31 0000036405 index:InvestorProspectusMember index:C000007802Member oef:AfterTaxesOnDistributionsMember 2021-01-01 2025-12-31 0000036405 index:InvestorProspectusMember index:C000007802Member oef:AfterTaxesOnDistributionsMember 2016-01-01 2025-12-31 0000036405 index:InvestorProspectusMember index:C000007802Member oef:AfterTaxesOnDistributionsAndSalesMember 2025-01-01 2025-12-31 0000036405 index:InvestorProspectusMember index:C000007802Member oef:AfterTaxesOnDistributionsAndSalesMember 2021-01-01 2025-12-31 0000036405 index:InvestorProspectusMember index:C000007802Member oef:AfterTaxesOnDistributionsAndSalesMember 2016-01-01 2025-12-31 0000036405 index:InvestorProspectusMember index:CRSPUSSmallCapValueIndexMember 2025-01-01 2025-12-31 0000036405 index:InvestorProspectusMember index:CRSPUSSmallCapValueIndexMember 2021-01-01 2025-12-31 0000036405 index:InvestorProspectusMember index:CRSPUSSmallCapValueIndexMember 2016-01-01 2025-12-31 0000036405 index:InvestorProspectusMember index:S000002846Member 2025-12-31 2025-12-31 0000036405 index:InvestorProspectusMember index:S000002846Member index:C000007799Member 2025-12-31 2025-12-31 0000036405 index:InvestorProspectusMember index:S000002846Member oef:RiskLoseMoneyMember 2025-12-31 2025-12-31 0000036405 index:InvestorProspectusMember index:S000002846Member index:GeneralMarketRiskMember 2025-12-31 2025-12-31 0000036405 index:InvestorProspectusMember index:S000002846Member index:InvestingInEquityMarketsRiskMember 2025-12-31 2025-12-31 0000036405 index:InvestorProspectusMember index:S000002846Member index:MarketCapitalizationRiskMember 2025-12-31 2025-12-31 0000036405 index:InvestorProspectusMember index:S000002846Member index:GrowthInvestingRiskMember 2025-12-31 2025-12-31 0000036405 index:InvestorProspectusMember index:S000002846Member index:IndexInvestingRiskMember 2025-12-31 2025-12-31 0000036405 index:InvestorProspectusMember index:S000002846Member index:ConcentrationRiskMember 2025-12-31 2025-12-31 0000036405 index:InvestorProspectusMember index:S000002846Member oef:RiskNotInsuredDepositoryInstitutionMember 2025-12-31 2025-12-31 0000036405 index:InvestorProspectusMember index:C000007799Member 2025-01-01 2025-12-31 0000036405 index:InvestorProspectusMember index:C000007799Member 2021-01-01 2025-12-31 0000036405 index:InvestorProspectusMember index:C000007799Member 2016-01-01 2025-12-31 0000036405 index:InvestorProspectusMember index:C000007799Member oef:AfterTaxesOnDistributionsMember 2025-01-01 2025-12-31 0000036405 index:InvestorProspectusMember index:C000007799Member oef:AfterTaxesOnDistributionsMember 2021-01-01 2025-12-31 0000036405 index:InvestorProspectusMember index:C000007799Member oef:AfterTaxesOnDistributionsMember 2016-01-01 2025-12-31 0000036405 index:InvestorProspectusMember index:C000007799Member oef:AfterTaxesOnDistributionsAndSalesMember 2025-01-01 2025-12-31 0000036405 index:InvestorProspectusMember index:C000007799Member oef:AfterTaxesOnDistributionsAndSalesMember 2021-01-01 2025-12-31 0000036405 index:InvestorProspectusMember index:C000007799Member oef:AfterTaxesOnDistributionsAndSalesMember 2016-01-01 2025-12-31 0000036405 index:InvestorProspectusMember index:CRSPUSSmallCapGrowthIndexMember 2025-01-01 2025-12-31 0000036405 index:InvestorProspectusMember index:CRSPUSSmallCapGrowthIndexMember 2021-01-01 2025-12-31 0000036405 index:InvestorProspectusMember index:CRSPUSSmallCapGrowthIndexMember 2016-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:S000002845Member 2025-12-31 2025-12-31 0000036405 index:AdmiralProspectusMember index:S000002845Member index:C000007796Member 2025-12-31 2025-12-31 0000036405 index:AdmiralProspectusMember index:S000002845Member oef:RiskLoseMoneyMember 2025-12-31 2025-12-31 0000036405 index:AdmiralProspectusMember index:S000002845Member index:GeneralMarketRiskMember 2025-12-31 2025-12-31 0000036405 index:AdmiralProspectusMember index:S000002845Member index:InvestingInEquityMarketsRiskMember 2025-12-31 2025-12-31 0000036405 index:AdmiralProspectusMember index:S000002845Member index:MarketCapitalizationRiskMember 2025-12-31 2025-12-31 0000036405 index:AdmiralProspectusMember index:S000002845Member index:IndexInvestingRiskMember 2025-12-31 2025-12-31 0000036405 index:AdmiralProspectusMember index:S000002845Member index:ConcentrationRiskMember 2025-12-31 2025-12-31 0000036405 index:AdmiralProspectusMember index:S000002845Member oef:RiskNotInsuredDepositoryInstitutionMember 2025-12-31 2025-12-31 0000036405 index:AdmiralProspectusMember index:C000007796Member 2025-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:C000007796Member 2021-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:C000007796Member 2016-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:C000007796Member oef:AfterTaxesOnDistributionsMember 2025-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:C000007796Member oef:AfterTaxesOnDistributionsMember 2021-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:C000007796Member oef:AfterTaxesOnDistributionsMember 2016-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:C000007796Member oef:AfterTaxesOnDistributionsAndSalesMember 2025-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:C000007796Member oef:AfterTaxesOnDistributionsAndSalesMember 2021-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:C000007796Member oef:AfterTaxesOnDistributionsAndSalesMember 2016-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:CRSPUSSmallCapIndexMember 2025-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:CRSPUSSmallCapIndexMember 2021-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:CRSPUSSmallCapIndexMember 2016-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:S000002847Member 2025-12-31 2025-12-31 0000036405 index:AdmiralProspectusMember index:S000002847Member index:C000105305Member 2025-12-31 2025-12-31 0000036405 index:AdmiralProspectusMember index:S000002847Member oef:RiskLoseMoneyMember 2025-12-31 2025-12-31 0000036405 index:AdmiralProspectusMember index:S000002847Member index:GeneralMarketRiskMember 2025-12-31 2025-12-31 0000036405 index:AdmiralProspectusMember index:S000002847Member index:InvestingInEquityMarketsRiskMember 2025-12-31 2025-12-31 0000036405 index:AdmiralProspectusMember index:S000002847Member index:MarketCapitalizationRiskMember 2025-12-31 2025-12-31 0000036405 index:AdmiralProspectusMember index:S000002847Member index:ValueInvestingRiskMember 2025-12-31 2025-12-31 0000036405 index:AdmiralProspectusMember index:S000002847Member index:IndexInvestingRiskMember 2025-12-31 2025-12-31 0000036405 index:AdmiralProspectusMember index:S000002847Member index:ConcentrationRiskMember 2025-12-31 2025-12-31 0000036405 index:AdmiralProspectusMember index:S000002847Member oef:RiskNotInsuredDepositoryInstitutionMember 2025-12-31 2025-12-31 0000036405 index:AdmiralProspectusMember index:C000105305Member 2025-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:C000105305Member 2021-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:C000105305Member 2016-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:C000105305Member oef:AfterTaxesOnDistributionsMember 2025-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:C000105305Member oef:AfterTaxesOnDistributionsMember 2021-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:C000105305Member oef:AfterTaxesOnDistributionsMember 2016-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:C000105305Member oef:AfterTaxesOnDistributionsAndSalesMember 2025-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:C000105305Member oef:AfterTaxesOnDistributionsAndSalesMember 2021-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:C000105305Member oef:AfterTaxesOnDistributionsAndSalesMember 2016-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:CRSPUSSmallCapValueIndexMember 2025-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:CRSPUSSmallCapValueIndexMember 2021-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:CRSPUSSmallCapValueIndexMember 2016-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:S000002846Member 2025-12-31 2025-12-31 0000036405 index:AdmiralProspectusMember index:S000002846Member index:C000105304Member 2025-12-31 2025-12-31 0000036405 index:AdmiralProspectusMember index:S000002846Member oef:RiskLoseMoneyMember 2025-12-31 2025-12-31 0000036405 index:AdmiralProspectusMember index:S000002846Member index:GeneralMarketRiskMember 2025-12-31 2025-12-31 0000036405 index:AdmiralProspectusMember index:S000002846Member index:InvestingInEquityMarketsRiskMember 2025-12-31 2025-12-31 0000036405 index:AdmiralProspectusMember index:S000002846Member index:MarketCapitalizationRiskMember 2025-12-31 2025-12-31 0000036405 index:AdmiralProspectusMember index:S000002846Member index:GrowthInvestingRiskMember 2025-12-31 2025-12-31 0000036405 index:AdmiralProspectusMember index:S000002846Member index:IndexInvestingRiskMember 2025-12-31 2025-12-31 0000036405 index:AdmiralProspectusMember index:S000002846Member index:ConcentrationRiskMember 2025-12-31 2025-12-31 0000036405 index:AdmiralProspectusMember index:S000002846Member oef:RiskNotInsuredDepositoryInstitutionMember 2025-12-31 2025-12-31 0000036405 index:AdmiralProspectusMember index:C000105304Member 2025-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:C000105304Member 2021-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:C000105304Member 2016-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:C000105304Member oef:AfterTaxesOnDistributionsMember 2025-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:C000105304Member oef:AfterTaxesOnDistributionsMember 2021-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:C000105304Member oef:AfterTaxesOnDistributionsMember 2016-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:C000105304Member oef:AfterTaxesOnDistributionsAndSalesMember 2025-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:C000105304Member oef:AfterTaxesOnDistributionsAndSalesMember 2021-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:C000105304Member oef:AfterTaxesOnDistributionsAndSalesMember 2016-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:CRSPUSSmallCapGrowthIndexMember 2025-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:CRSPUSSmallCapGrowthIndexMember 2021-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:CRSPUSSmallCapGrowthIndexMember 2016-01-01 2025-12-31 0000036405 index:InstitutionalProspectusMember index:S000002845Member 2025-12-31 2025-12-31 0000036405 index:InstitutionalProspectusMember index:S000002845Member index:C000007797Member 2025-12-31 2025-12-31 0000036405 index:InstitutionalProspectusMember index:S000002845Member index:C000096112Member 2025-12-31 2025-12-31 0000036405 index:InstitutionalProspectusMember index:S000002845Member oef:RiskLoseMoneyMember 2025-12-31 2025-12-31 0000036405 index:InstitutionalProspectusMember index:S000002845Member index:GeneralMarketRiskMember 2025-12-31 2025-12-31 0000036405 index:InstitutionalProspectusMember index:S000002845Member index:InvestingInEquityMarketsRiskMember 2025-12-31 2025-12-31 0000036405 index:InstitutionalProspectusMember index:S000002845Member index:MarketCapitalizationRiskMember 2025-12-31 2025-12-31 0000036405 index:InstitutionalProspectusMember index:S000002845Member index:IndexInvestingRiskMember 2025-12-31 2025-12-31 0000036405 index:InstitutionalProspectusMember index:S000002845Member index:ConcentrationRiskMember 2025-12-31 2025-12-31 0000036405 index:InstitutionalProspectusMember index:S000002845Member oef:RiskNotInsuredDepositoryInstitutionMember 2025-12-31 2025-12-31 0000036405 index:InstitutionalProspectusMember index:C000007797Member 2025-01-01 2025-12-31 0000036405 index:InstitutionalProspectusMember index:C000007797Member 2021-01-01 2025-12-31 0000036405 index:InstitutionalProspectusMember index:C000007797Member 2016-01-01 2025-12-31 0000036405 index:InstitutionalProspectusMember index:C000007797Member oef:AfterTaxesOnDistributionsMember 2025-01-01 2025-12-31 0000036405 index:InstitutionalProspectusMember index:C000007797Member oef:AfterTaxesOnDistributionsMember 2021-01-01 2025-12-31 0000036405 index:InstitutionalProspectusMember index:C000007797Member oef:AfterTaxesOnDistributionsMember 2016-01-01 2025-12-31 0000036405 index:InstitutionalProspectusMember index:C000007797Member oef:AfterTaxesOnDistributionsAndSalesMember 2025-01-01 2025-12-31 0000036405 index:InstitutionalProspectusMember index:C000007797Member oef:AfterTaxesOnDistributionsAndSalesMember 2021-01-01 2025-12-31 0000036405 index:InstitutionalProspectusMember index:C000007797Member oef:AfterTaxesOnDistributionsAndSalesMember 2016-01-01 2025-12-31 0000036405 index:InstitutionalProspectusMember index:C000096112Member 2025-01-01 2025-12-31 0000036405 index:InstitutionalProspectusMember index:C000096112Member 2021-01-01 2025-12-31 0000036405 index:InstitutionalProspectusMember index:C000096112Member 2016-01-01 2025-12-31 0000036405 index:InstitutionalProspectusMember index:CRSPUSSmallCapIndexMember 2025-01-01 2025-12-31 0000036405 index:InstitutionalProspectusMember index:CRSPUSSmallCapIndexMember 2021-01-01 2025-12-31 0000036405 index:InstitutionalProspectusMember index:CRSPUSSmallCapIndexMember 2016-01-01 2025-12-31 0000036405 index:InstitutionalProspectusMember index:S000002847Member 2025-12-31 2025-12-31 0000036405 index:InstitutionalProspectusMember index:S000002847Member index:C000007803Member 2025-12-31 2025-12-31 0000036405 index:InstitutionalProspectusMember index:S000002847Member oef:RiskLoseMoneyMember 2025-12-31 2025-12-31 0000036405 index:InstitutionalProspectusMember index:S000002847Member index:GeneralMarketRiskMember 2025-12-31 2025-12-31 0000036405 index:InstitutionalProspectusMember index:S000002847Member index:InvestingInEquityMarketsRiskMember 2025-12-31 2025-12-31 0000036405 index:InstitutionalProspectusMember index:S000002847Member index:MarketCapitalizationRiskMember 2025-12-31 2025-12-31 0000036405 index:InstitutionalProspectusMember index:S000002847Member index:ValueInvestingRiskMember 2025-12-31 2025-12-31 0000036405 index:InstitutionalProspectusMember index:S000002847Member index:IndexInvestingRiskMember 2025-12-31 2025-12-31 0000036405 index:InstitutionalProspectusMember index:S000002847Member index:ConcentrationRiskMember 2025-12-31 2025-12-31 0000036405 index:InstitutionalProspectusMember index:S000002847Member oef:RiskNotInsuredDepositoryInstitutionMember 2025-12-31 2025-12-31 0000036405 index:InstitutionalProspectusMember index:C000007803Member 2025-01-01 2025-12-31 0000036405 index:InstitutionalProspectusMember index:C000007803Member 2021-01-01 2025-12-31 0000036405 index:InstitutionalProspectusMember index:C000007803Member 2016-01-01 2025-12-31 0000036405 index:InstitutionalProspectusMember index:C000007803Member oef:AfterTaxesOnDistributionsMember 2025-01-01 2025-12-31 0000036405 index:InstitutionalProspectusMember index:C000007803Member oef:AfterTaxesOnDistributionsMember 2021-01-01 2025-12-31 0000036405 index:InstitutionalProspectusMember index:C000007803Member oef:AfterTaxesOnDistributionsMember 2016-01-01 2025-12-31 0000036405 index:InstitutionalProspectusMember index:C000007803Member oef:AfterTaxesOnDistributionsAndSalesMember 2025-01-01 2025-12-31 0000036405 index:InstitutionalProspectusMember index:C000007803Member oef:AfterTaxesOnDistributionsAndSalesMember 2021-01-01 2025-12-31 0000036405 index:InstitutionalProspectusMember index:C000007803Member oef:AfterTaxesOnDistributionsAndSalesMember 2016-01-01 2025-12-31 0000036405 index:InstitutionalProspectusMember index:CRSPUSSmallCapValueIndexMember 2025-01-01 2025-12-31 0000036405 index:InstitutionalProspectusMember index:CRSPUSSmallCapValueIndexMember 2021-01-01 2025-12-31 0000036405 index:InstitutionalProspectusMember index:CRSPUSSmallCapValueIndexMember 2016-01-01 2025-12-31 0000036405 index:InstitutionalProspectusMember index:S000002846Member 2025-12-31 2025-12-31 0000036405 index:InstitutionalProspectusMember index:S000002846Member index:C000007800Member 2025-12-31 2025-12-31 0000036405 index:InstitutionalProspectusMember index:S000002846Member oef:RiskLoseMoneyMember 2025-12-31 2025-12-31 0000036405 index:InstitutionalProspectusMember index:S000002846Member index:GeneralMarketRiskMember 2025-12-31 2025-12-31 0000036405 index:InstitutionalProspectusMember index:S000002846Member index:InvestingInEquityMarketsRiskMember 2025-12-31 2025-12-31 0000036405 index:InstitutionalProspectusMember index:S000002846Member index:MarketCapitalizationRiskMember 2025-12-31 2025-12-31 0000036405 index:InstitutionalProspectusMember index:S000002846Member index:GrowthInvestingRiskMember 2025-12-31 2025-12-31 0000036405 index:InstitutionalProspectusMember index:S000002846Member index:IndexInvestingRiskMember 2025-12-31 2025-12-31 0000036405 index:InstitutionalProspectusMember index:S000002846Member index:ConcentrationRiskMember 2025-12-31 2025-12-31 0000036405 index:InstitutionalProspectusMember index:S000002846Member oef:RiskNotInsuredDepositoryInstitutionMember 2025-12-31 2025-12-31 0000036405 index:InstitutionalProspectusMember index:C000007800Member 2025-01-01 2025-12-31 0000036405 index:InstitutionalProspectusMember index:C000007800Member 2021-01-01 2025-12-31 0000036405 index:InstitutionalProspectusMember index:C000007800Member 2016-01-01 2025-12-31 0000036405 index:InstitutionalProspectusMember index:C000007800Member oef:AfterTaxesOnDistributionsMember 2025-01-01 2025-12-31 0000036405 index:InstitutionalProspectusMember index:C000007800Member oef:AfterTaxesOnDistributionsMember 2021-01-01 2025-12-31 0000036405 index:InstitutionalProspectusMember index:C000007800Member oef:AfterTaxesOnDistributionsMember 2016-01-01 2025-12-31 0000036405 index:InstitutionalProspectusMember index:C000007800Member oef:AfterTaxesOnDistributionsAndSalesMember 2025-01-01 2025-12-31 0000036405 index:InstitutionalProspectusMember index:C000007800Member oef:AfterTaxesOnDistributionsAndSalesMember 2021-01-01 2025-12-31 0000036405 index:InstitutionalProspectusMember index:C000007800Member oef:AfterTaxesOnDistributionsAndSalesMember 2016-01-01 2025-12-31 0000036405 index:InstitutionalProspectusMember index:CRSPUSSmallCapGrowthIndexMember 2025-01-01 2025-12-31 0000036405 index:InstitutionalProspectusMember index:CRSPUSSmallCapGrowthIndexMember 2021-01-01 2025-12-31 0000036405 index:InstitutionalProspectusMember index:CRSPUSSmallCapGrowthIndexMember 2016-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:S000002848Member 2025-12-31 2025-12-31 0000036405 index:ETFProspectusMember index:S000002848Member index:C000007808Member 2025-12-31 2025-12-31 0000036405 index:ETFProspectusMember index:S000002848Member oef:RiskLoseMoneyMember 2025-12-31 2025-12-31 0000036405 index:ETFProspectusMember index:S000002848Member index:GeneralMarketRiskMember 2025-12-31 2025-12-31 0000036405 index:ETFProspectusMember index:S000002848Member index:InvestingInEquityMarketsRiskMember 2025-12-31 2025-12-31 0000036405 index:ETFProspectusMember index:S000002848Member index:MarketCapitalizationRiskMember 2025-12-31 2025-12-31 0000036405 index:ETFProspectusMember index:S000002848Member index:IndexInvestingRiskMember 2025-12-31 2025-12-31 0000036405 index:ETFProspectusMember index:S000002848Member index:NondiversificationRiskMember 2025-12-31 2025-12-31 0000036405 index:ETFProspectusMember index:S000002848Member index:ConcentrationRiskMember 2025-12-31 2025-12-31 0000036405 index:ETFProspectusMember index:S000002848Member index:SectorRiskMember 2025-12-31 2025-12-31 0000036405 index:ETFProspectusMember index:S000002848Member index:ETFShareTradingRiskMember 2025-12-31 2025-12-31 0000036405 index:ETFProspectusMember index:S000002848Member index:AuthorizedParticipantsRiskMember 2025-12-31 2025-12-31 0000036405 index:ETFProspectusMember index:S000002848Member oef:RiskNotInsuredDepositoryInstitutionMember 2025-12-31 2025-12-31 0000036405 index:ETFProspectusMember index:C000007808Member index:BasedonNAVMember 2025-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:C000007808Member index:BasedonNAVMember 2021-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:C000007808Member index:BasedonNAVMember 2016-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:C000007808Member oef:AfterTaxesOnDistributionsMember 2025-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:C000007808Member oef:AfterTaxesOnDistributionsMember 2021-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:C000007808Member oef:AfterTaxesOnDistributionsMember 2016-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:C000007808Member oef:AfterTaxesOnDistributionsAndSalesMember 2025-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:C000007808Member oef:AfterTaxesOnDistributionsAndSalesMember 2021-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:C000007808Member oef:AfterTaxesOnDistributionsAndSalesMember 2016-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:C000007808Member index:BasedonMarketPriceMember 2025-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:C000007808Member index:BasedonMarketPriceMember 2021-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:C000007808Member index:BasedonMarketPriceMember 2016-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:CRSPUSTotalMarketIndexMember 2025-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:CRSPUSTotalMarketIndexMember 2021-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:CRSPUSTotalMarketIndexMember 2016-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:S000002841Member 2025-12-31 2025-12-31 0000036405 index:ETFProspectusMember index:S000002841Member index:C000007782Member 2025-12-31 2025-12-31 0000036405 index:ETFProspectusMember index:S000002841Member oef:RiskLoseMoneyMember 2025-12-31 2025-12-31 0000036405 index:ETFProspectusMember index:S000002841Member index:GeneralMarketRiskMember 2025-12-31 2025-12-31 0000036405 index:ETFProspectusMember index:S000002841Member index:InvestingInEquityMarketsRiskMember 2025-12-31 2025-12-31 0000036405 index:ETFProspectusMember index:S000002841Member index:MarketCapitalizationRiskMember 2025-12-31 2025-12-31 0000036405 index:ETFProspectusMember index:S000002841Member index:IndexInvestingRiskMember 2025-12-31 2025-12-31 0000036405 index:ETFProspectusMember index:S000002841Member index:ConcentrationRiskMember 2025-12-31 2025-12-31 0000036405 index:ETFProspectusMember index:S000002841Member index:ETFShareTradingRiskMember 2025-12-31 2025-12-31 0000036405 index:ETFProspectusMember index:S000002841Member index:AuthorizedParticipantsRiskMember 2025-12-31 2025-12-31 0000036405 index:ETFProspectusMember index:S000002841Member oef:RiskNotInsuredDepositoryInstitutionMember 2025-12-31 2025-12-31 0000036405 index:ETFProspectusMember index:C000007782Member index:BasedonNAVMember 2025-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:C000007782Member index:BasedonNAVMember 2021-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:C000007782Member index:BasedonNAVMember 2016-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:C000007782Member oef:AfterTaxesOnDistributionsMember 2025-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:C000007782Member oef:AfterTaxesOnDistributionsMember 2021-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:C000007782Member oef:AfterTaxesOnDistributionsMember 2016-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:C000007782Member oef:AfterTaxesOnDistributionsAndSalesMember 2025-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:C000007782Member oef:AfterTaxesOnDistributionsAndSalesMember 2021-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:C000007782Member oef:AfterTaxesOnDistributionsAndSalesMember 2016-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:C000007782Member index:BasedonMarketPriceMember 2025-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:C000007782Member index:BasedonMarketPriceMember 2021-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:C000007782Member index:BasedonMarketPriceMember 2016-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:StandardandPoorsCompletionIndexMember 2025-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:StandardandPoorsCompletionIndexMember 2021-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:StandardandPoorsCompletionIndexMember 2016-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:S000002843Member 2025-12-31 2025-12-31 0000036405 index:ETFProspectusMember index:S000002843Member index:C000007790Member 2025-12-31 2025-12-31 0000036405 index:ETFProspectusMember index:S000002843Member oef:RiskLoseMoneyMember 2025-12-31 2025-12-31 0000036405 index:ETFProspectusMember index:S000002843Member index:GeneralMarketRiskMember 2025-12-31 2025-12-31 0000036405 index:ETFProspectusMember index:S000002843Member index:InvestingInEquityMarketsRiskMember 2025-12-31 2025-12-31 0000036405 index:ETFProspectusMember index:S000002843Member index:MarketCapitalizationRiskMember 2025-12-31 2025-12-31 0000036405 index:ETFProspectusMember index:S000002843Member index:IndexInvestingRiskMember 2025-12-31 2025-12-31 0000036405 index:ETFProspectusMember index:S000002843Member index:NondiversificationRiskMember 2025-12-31 2025-12-31 0000036405 index:ETFProspectusMember index:S000002843Member index:ConcentrationRiskMember 2025-12-31 2025-12-31 0000036405 index:ETFProspectusMember index:S000002843Member index:SectorRiskMember 2025-12-31 2025-12-31 0000036405 index:ETFProspectusMember index:S000002843Member index:ETFShareTradingRiskMember 2025-12-31 2025-12-31 0000036405 index:ETFProspectusMember index:S000002843Member index:AuthorizedParticipantsRiskMember 2025-12-31 2025-12-31 0000036405 index:ETFProspectusMember index:S000002843Member oef:RiskNotInsuredDepositoryInstitutionMember 2025-12-31 2025-12-31 0000036405 index:ETFProspectusMember index:C000007790Member index:BasedonNAVMember 2025-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:C000007790Member index:BasedonNAVMember 2021-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:C000007790Member index:BasedonNAVMember 2016-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:C000007790Member oef:AfterTaxesOnDistributionsMember 2025-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:C000007790Member oef:AfterTaxesOnDistributionsMember 2021-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:C000007790Member oef:AfterTaxesOnDistributionsMember 2016-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:C000007790Member oef:AfterTaxesOnDistributionsAndSalesMember 2025-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:C000007790Member oef:AfterTaxesOnDistributionsAndSalesMember 2021-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:C000007790Member oef:AfterTaxesOnDistributionsAndSalesMember 2016-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:C000007790Member index:BasedonMarketPriceMember 2025-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:C000007790Member index:BasedonMarketPriceMember 2021-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:C000007790Member index:BasedonMarketPriceMember 2016-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:CRSPUSLargeCapIndexMember 2025-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:CRSPUSLargeCapIndexMember 2021-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:CRSPUSLargeCapIndexMember 2016-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:S000002844Member 2025-12-31 2025-12-31 0000036405 index:ETFProspectusMember index:S000002844Member index:C000007794Member 2025-12-31 2025-12-31 0000036405 index:ETFProspectusMember index:S000002844Member oef:RiskLoseMoneyMember 2025-12-31 2025-12-31 0000036405 index:ETFProspectusMember index:S000002844Member index:GeneralMarketRiskMember 2025-12-31 2025-12-31 0000036405 index:ETFProspectusMember index:S000002844Member index:InvestingInEquityMarketsRiskMember 2025-12-31 2025-12-31 0000036405 index:ETFProspectusMember index:S000002844Member index:MarketCapitalizationRiskMember 2025-12-31 2025-12-31 0000036405 index:ETFProspectusMember index:S000002844Member index:IndexInvestingRiskMember 2025-12-31 2025-12-31 0000036405 index:ETFProspectusMember index:S000002844Member index:ConcentrationRiskMember 2025-12-31 2025-12-31 0000036405 index:ETFProspectusMember index:S000002844Member index:ETFShareTradingRiskMember 2025-12-31 2025-12-31 0000036405 index:ETFProspectusMember index:S000002844Member index:AuthorizedParticipantsRiskMember 2025-12-31 2025-12-31 0000036405 index:ETFProspectusMember index:S000002844Member oef:RiskNotInsuredDepositoryInstitutionMember 2025-12-31 2025-12-31 0000036405 index:ETFProspectusMember index:C000007794Member index:BasedonNAVMember 2025-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:C000007794Member index:BasedonNAVMember 2021-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:C000007794Member index:BasedonNAVMember 2016-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:C000007794Member oef:AfterTaxesOnDistributionsMember 2025-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:C000007794Member oef:AfterTaxesOnDistributionsMember 2021-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:C000007794Member oef:AfterTaxesOnDistributionsMember 2016-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:C000007794Member oef:AfterTaxesOnDistributionsAndSalesMember 2025-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:C000007794Member oef:AfterTaxesOnDistributionsAndSalesMember 2021-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:C000007794Member oef:AfterTaxesOnDistributionsAndSalesMember 2016-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:C000007794Member index:BasedonMarketPriceMember 2025-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:C000007794Member index:BasedonMarketPriceMember 2021-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:C000007794Member index:BasedonMarketPriceMember 2016-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:CRSPUSMidCapIndexMember 2025-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:CRSPUSMidCapIndexMember 2021-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:CRSPUSMidCapIndexMember 2016-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:S000002845Member 2025-12-31 2025-12-31 0000036405 index:ETFProspectusMember index:S000002845Member index:C000007798Member 2025-12-31 2025-12-31 0000036405 index:ETFProspectusMember index:S000002845Member oef:RiskLoseMoneyMember 2025-12-31 2025-12-31 0000036405 index:ETFProspectusMember index:S000002845Member index:GeneralMarketRiskMember 2025-12-31 2025-12-31 0000036405 index:ETFProspectusMember index:S000002845Member index:InvestingInEquityMarketsRiskMember 2025-12-31 2025-12-31 0000036405 index:ETFProspectusMember index:S000002845Member index:MarketCapitalizationRiskMember 2025-12-31 2025-12-31 0000036405 index:ETFProspectusMember index:S000002845Member index:IndexInvestingRiskMember 2025-12-31 2025-12-31 0000036405 index:ETFProspectusMember index:S000002845Member index:ConcentrationRiskMember 2025-12-31 2025-12-31 0000036405 index:ETFProspectusMember index:S000002845Member index:ETFShareTradingRiskMember 2025-12-31 2025-12-31 0000036405 index:ETFProspectusMember index:S000002845Member index:AuthorizedParticipantsRiskMember 2025-12-31 2025-12-31 0000036405 index:ETFProspectusMember index:S000002845Member oef:RiskNotInsuredDepositoryInstitutionMember 2025-12-31 2025-12-31 0000036405 index:ETFProspectusMember index:C000007798Member index:BasedonNAVMember 2025-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:C000007798Member index:BasedonNAVMember 2021-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:C000007798Member index:BasedonNAVMember 2016-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:C000007798Member oef:AfterTaxesOnDistributionsMember 2025-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:C000007798Member oef:AfterTaxesOnDistributionsMember 2021-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:C000007798Member oef:AfterTaxesOnDistributionsMember 2016-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:C000007798Member oef:AfterTaxesOnDistributionsAndSalesMember 2025-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:C000007798Member oef:AfterTaxesOnDistributionsAndSalesMember 2021-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:C000007798Member oef:AfterTaxesOnDistributionsAndSalesMember 2016-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:C000007798Member index:BasedonMarketPriceMember 2025-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:C000007798Member index:BasedonMarketPriceMember 2021-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:C000007798Member index:BasedonMarketPriceMember 2016-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:CRSPUSSmallCapIndexMember 2025-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:CRSPUSSmallCapIndexMember 2021-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:CRSPUSSmallCapIndexMember 2016-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:S000002840Member 2025-12-31 2025-12-31 0000036405 index:ETFProspectusMember index:S000002840Member index:C000007778Member 2025-12-31 2025-12-31 0000036405 index:ETFProspectusMember index:S000002840Member oef:RiskLoseMoneyMember 2025-12-31 2025-12-31 0000036405 index:ETFProspectusMember index:S000002840Member index:GeneralMarketRiskMember 2025-12-31 2025-12-31 0000036405 index:ETFProspectusMember index:S000002840Member index:InvestingInEquityMarketsRiskMember 2025-12-31 2025-12-31 0000036405 index:ETFProspectusMember index:S000002840Member index:MarketCapitalizationRiskMember 2025-12-31 2025-12-31 0000036405 index:ETFProspectusMember index:S000002840Member index:ValueInvestingRiskMember 2025-12-31 2025-12-31 0000036405 index:ETFProspectusMember index:S000002840Member index:IndexInvestingRiskMember 2025-12-31 2025-12-31 0000036405 index:ETFProspectusMember index:S000002840Member index:ConcentrationRiskMember 2025-12-31 2025-12-31 0000036405 index:ETFProspectusMember index:S000002840Member index:ETFShareTradingRiskMember 2025-12-31 2025-12-31 0000036405 index:ETFProspectusMember index:S000002840Member index:AuthorizedParticipantsRiskMember 2025-12-31 2025-12-31 0000036405 index:ETFProspectusMember index:S000002840Member oef:RiskNotInsuredDepositoryInstitutionMember 2025-12-31 2025-12-31 0000036405 index:ETFProspectusMember index:C000007778Member index:BasedonNAVMember 2025-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:C000007778Member index:BasedonNAVMember 2021-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:C000007778Member index:BasedonNAVMember 2016-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:C000007778Member oef:AfterTaxesOnDistributionsMember 2025-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:C000007778Member oef:AfterTaxesOnDistributionsMember 2021-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:C000007778Member oef:AfterTaxesOnDistributionsMember 2016-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:C000007778Member oef:AfterTaxesOnDistributionsAndSalesMember 2025-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:C000007778Member oef:AfterTaxesOnDistributionsAndSalesMember 2021-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:C000007778Member oef:AfterTaxesOnDistributionsAndSalesMember 2016-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:C000007778Member index:BasedonMarketPriceMember 2025-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:C000007778Member index:BasedonMarketPriceMember 2021-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:C000007778Member index:BasedonMarketPriceMember 2016-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:CRSPUSLargeCapValueIndexMember 2025-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:CRSPUSLargeCapValueIndexMember 2021-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:CRSPUSLargeCapValueIndexMember 2016-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:S000012757Member 2025-12-31 2025-12-31 0000036405 index:ETFProspectusMember index:S000012757Member index:C000034430Member 2025-12-31 2025-12-31 0000036405 index:ETFProspectusMember index:S000012757Member oef:RiskLoseMoneyMember 2025-12-31 2025-12-31 0000036405 index:ETFProspectusMember index:S000012757Member index:GeneralMarketRiskMember 2025-12-31 2025-12-31 0000036405 index:ETFProspectusMember index:S000012757Member index:InvestingInEquityMarketsRiskMember 2025-12-31 2025-12-31 0000036405 index:ETFProspectusMember index:S000012757Member index:MarketCapitalizationRiskMember 2025-12-31 2025-12-31 0000036405 index:ETFProspectusMember index:S000012757Member index:ValueInvestingRiskMember 2025-12-31 2025-12-31 0000036405 index:ETFProspectusMember index:S000012757Member index:IndexInvestingRiskMember 2025-12-31 2025-12-31 0000036405 index:ETFProspectusMember index:S000012757Member index:ConcentrationRiskMember 2025-12-31 2025-12-31 0000036405 index:ETFProspectusMember index:S000012757Member index:ETFShareTradingRiskMember 2025-12-31 2025-12-31 0000036405 index:ETFProspectusMember index:S000012757Member index:AuthorizedParticipantsRiskMember 2025-12-31 2025-12-31 0000036405 index:ETFProspectusMember index:S000012757Member oef:RiskNotInsuredDepositoryInstitutionMember 2025-12-31 2025-12-31 0000036405 index:ETFProspectusMember index:C000034430Member index:BasedonNAVMember 2025-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:C000034430Member index:BasedonNAVMember 2021-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:C000034430Member index:BasedonNAVMember 2016-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:C000034430Member oef:AfterTaxesOnDistributionsMember 2025-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:C000034430Member oef:AfterTaxesOnDistributionsMember 2021-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:C000034430Member oef:AfterTaxesOnDistributionsMember 2016-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:C000034430Member oef:AfterTaxesOnDistributionsAndSalesMember 2025-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:C000034430Member oef:AfterTaxesOnDistributionsAndSalesMember 2021-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:C000034430Member oef:AfterTaxesOnDistributionsAndSalesMember 2016-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:C000034430Member index:BasedonMarketPriceMember 2025-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:C000034430Member index:BasedonMarketPriceMember 2021-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:C000034430Member index:BasedonMarketPriceMember 2016-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:CRSPUSMidCapValueIndexMember 2025-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:CRSPUSMidCapValueIndexMember 2021-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:CRSPUSMidCapValueIndexMember 2016-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:S000002847Member 2025-12-31 2025-12-31 0000036405 index:ETFProspectusMember index:S000002847Member index:C000007804Member 2025-12-31 2025-12-31 0000036405 index:ETFProspectusMember index:S000002847Member oef:RiskLoseMoneyMember 2025-12-31 2025-12-31 0000036405 index:ETFProspectusMember index:S000002847Member index:GeneralMarketRiskMember 2025-12-31 2025-12-31 0000036405 index:ETFProspectusMember index:S000002847Member index:InvestingInEquityMarketsRiskMember 2025-12-31 2025-12-31 0000036405 index:ETFProspectusMember index:S000002847Member index:MarketCapitalizationRiskMember 2025-12-31 2025-12-31 0000036405 index:ETFProspectusMember index:S000002847Member index:ValueInvestingRiskMember 2025-12-31 2025-12-31 0000036405 index:ETFProspectusMember index:S000002847Member index:IndexInvestingRiskMember 2025-12-31 2025-12-31 0000036405 index:ETFProspectusMember index:S000002847Member index:ConcentrationRiskMember 2025-12-31 2025-12-31 0000036405 index:ETFProspectusMember index:S000002847Member index:ETFShareTradingRiskMember 2025-12-31 2025-12-31 0000036405 index:ETFProspectusMember index:S000002847Member index:AuthorizedParticipantsRiskMember 2025-12-31 2025-12-31 0000036405 index:ETFProspectusMember index:S000002847Member oef:RiskNotInsuredDepositoryInstitutionMember 2025-12-31 2025-12-31 0000036405 index:ETFProspectusMember index:C000007804Member index:BasedonNAVMember 2025-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:C000007804Member index:BasedonNAVMember 2021-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:C000007804Member index:BasedonNAVMember 2016-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:C000007804Member oef:AfterTaxesOnDistributionsMember 2025-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:C000007804Member oef:AfterTaxesOnDistributionsMember 2021-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:C000007804Member oef:AfterTaxesOnDistributionsMember 2016-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:C000007804Member oef:AfterTaxesOnDistributionsAndSalesMember 2025-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:C000007804Member oef:AfterTaxesOnDistributionsAndSalesMember 2021-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:C000007804Member oef:AfterTaxesOnDistributionsAndSalesMember 2016-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:C000007804Member index:BasedonMarketPriceMember 2025-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:C000007804Member index:BasedonMarketPriceMember 2021-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:C000007804Member index:BasedonMarketPriceMember 2016-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:CRSPUSSmallCapValueIndexMember 2025-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:CRSPUSSmallCapValueIndexMember 2021-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:CRSPUSSmallCapValueIndexMember 2016-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:S000002842Member 2025-12-31 2025-12-31 0000036405 index:ETFProspectusMember index:S000002842Member index:C000007786Member 2025-12-31 2025-12-31 0000036405 index:ETFProspectusMember index:S000002842Member oef:RiskLoseMoneyMember 2025-12-31 2025-12-31 0000036405 index:ETFProspectusMember index:S000002842Member index:GeneralMarketRiskMember 2025-12-31 2025-12-31 0000036405 index:ETFProspectusMember index:S000002842Member index:InvestingInEquityMarketsRiskMember 2025-12-31 2025-12-31 0000036405 index:ETFProspectusMember index:S000002842Member index:MarketCapitalizationRiskMember 2025-12-31 2025-12-31 0000036405 index:ETFProspectusMember index:S000002842Member index:GrowthInvestingRiskMember 2025-12-31 2025-12-31 0000036405 index:ETFProspectusMember index:S000002842Member index:IndexInvestingRiskMember 2025-12-31 2025-12-31 0000036405 index:ETFProspectusMember index:S000002842Member index:NondiversificationRiskMember 2025-12-31 2025-12-31 0000036405 index:ETFProspectusMember index:S000002842Member index:ConcentrationRiskMember 2025-12-31 2025-12-31 0000036405 index:ETFProspectusMember index:S000002842Member index:SectorRiskMember 2025-12-31 2025-12-31 0000036405 index:ETFProspectusMember index:S000002842Member index:ETFShareTradingRiskMember 2025-12-31 2025-12-31 0000036405 index:ETFProspectusMember index:S000002842Member index:AuthorizedParticipantsRiskMember 2025-12-31 2025-12-31 0000036405 index:ETFProspectusMember index:S000002842Member oef:RiskNotInsuredDepositoryInstitutionMember 2025-12-31 2025-12-31 0000036405 index:ETFProspectusMember index:C000007786Member index:BasedonNAVMember 2025-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:C000007786Member index:BasedonNAVMember 2021-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:C000007786Member index:BasedonNAVMember 2016-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:C000007786Member oef:AfterTaxesOnDistributionsMember 2025-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:C000007786Member oef:AfterTaxesOnDistributionsMember 2021-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:C000007786Member oef:AfterTaxesOnDistributionsMember 2016-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:C000007786Member oef:AfterTaxesOnDistributionsAndSalesMember 2025-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:C000007786Member oef:AfterTaxesOnDistributionsAndSalesMember 2021-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:C000007786Member oef:AfterTaxesOnDistributionsAndSalesMember 2016-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:C000007786Member index:BasedonMarketPriceMember 2025-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:C000007786Member index:BasedonMarketPriceMember 2021-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:C000007786Member index:BasedonMarketPriceMember 2016-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:CRSPUSLargeCapGrowthIndexMember 2025-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:CRSPUSLargeCapGrowthIndexMember 2021-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:CRSPUSLargeCapGrowthIndexMember 2016-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:S000012756Member 2025-12-31 2025-12-31 0000036405 index:ETFProspectusMember index:S000012756Member index:C000034428Member 2025-12-31 2025-12-31 0000036405 index:ETFProspectusMember index:S000012756Member oef:RiskLoseMoneyMember 2025-12-31 2025-12-31 0000036405 index:ETFProspectusMember index:S000012756Member index:GeneralMarketRiskMember 2025-12-31 2025-12-31 0000036405 index:ETFProspectusMember index:S000012756Member index:InvestingInEquityMarketsRiskMember 2025-12-31 2025-12-31 0000036405 index:ETFProspectusMember index:S000012756Member index:MarketCapitalizationRiskMember 2025-12-31 2025-12-31 0000036405 index:ETFProspectusMember index:S000012756Member index:GrowthInvestingRiskMember 2025-12-31 2025-12-31 0000036405 index:ETFProspectusMember index:S000012756Member index:IndexInvestingRiskMember 2025-12-31 2025-12-31 0000036405 index:ETFProspectusMember index:S000012756Member index:ConcentrationRiskMember 2025-12-31 2025-12-31 0000036405 index:ETFProspectusMember index:S000012756Member index:ETFShareTradingRiskMember 2025-12-31 2025-12-31 0000036405 index:ETFProspectusMember index:S000012756Member index:AuthorizedParticipantsRiskMember 2025-12-31 2025-12-31 0000036405 index:ETFProspectusMember index:S000012756Member oef:RiskNotInsuredDepositoryInstitutionMember 2025-12-31 2025-12-31 0000036405 index:ETFProspectusMember index:C000034428Member index:BasedonNAVMember 2025-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:C000034428Member index:BasedonNAVMember 2021-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:C000034428Member index:BasedonNAVMember 2016-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:C000034428Member oef:AfterTaxesOnDistributionsMember 2025-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:C000034428Member oef:AfterTaxesOnDistributionsMember 2021-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:C000034428Member oef:AfterTaxesOnDistributionsMember 2016-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:C000034428Member oef:AfterTaxesOnDistributionsAndSalesMember 2025-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:C000034428Member oef:AfterTaxesOnDistributionsAndSalesMember 2021-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:C000034428Member oef:AfterTaxesOnDistributionsAndSalesMember 2016-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:C000034428Member index:BasedonMarketPriceMember 2025-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:C000034428Member index:BasedonMarketPriceMember 2021-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:C000034428Member index:BasedonMarketPriceMember 2016-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:CRSPUSMidCapGrowthIndexMember 2025-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:CRSPUSMidCapGrowthIndexMember 2021-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:CRSPUSMidCapGrowthIndexMember 2016-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:S000002846Member 2025-12-31 2025-12-31 0000036405 index:ETFProspectusMember index:S000002846Member index:C000007801Member 2025-12-31 2025-12-31 0000036405 index:ETFProspectusMember index:S000002846Member oef:RiskLoseMoneyMember 2025-12-31 2025-12-31 0000036405 index:ETFProspectusMember index:S000002846Member index:GeneralMarketRiskMember 2025-12-31 2025-12-31 0000036405 index:ETFProspectusMember index:S000002846Member index:InvestingInEquityMarketsRiskMember 2025-12-31 2025-12-31 0000036405 index:ETFProspectusMember index:S000002846Member index:MarketCapitalizationRiskMember 2025-12-31 2025-12-31 0000036405 index:ETFProspectusMember index:S000002846Member index:GrowthInvestingRiskMember 2025-12-31 2025-12-31 0000036405 index:ETFProspectusMember index:S000002846Member index:IndexInvestingRiskMember 2025-12-31 2025-12-31 0000036405 index:ETFProspectusMember index:S000002846Member index:ConcentrationRiskMember 2025-12-31 2025-12-31 0000036405 index:ETFProspectusMember index:S000002846Member index:ETFShareTradingRiskMember 2025-12-31 2025-12-31 0000036405 index:ETFProspectusMember index:S000002846Member index:AuthorizedParticipantsRiskMember 2025-12-31 2025-12-31 0000036405 index:ETFProspectusMember index:S000002846Member oef:RiskNotInsuredDepositoryInstitutionMember 2025-12-31 2025-12-31 0000036405 index:ETFProspectusMember index:C000007801Member index:BasedonNAVMember 2025-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:C000007801Member index:BasedonNAVMember 2021-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:C000007801Member index:BasedonNAVMember 2016-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:C000007801Member oef:AfterTaxesOnDistributionsMember 2025-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:C000007801Member oef:AfterTaxesOnDistributionsMember 2021-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:C000007801Member oef:AfterTaxesOnDistributionsMember 2016-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:C000007801Member oef:AfterTaxesOnDistributionsAndSalesMember 2025-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:C000007801Member oef:AfterTaxesOnDistributionsAndSalesMember 2021-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:C000007801Member oef:AfterTaxesOnDistributionsAndSalesMember 2016-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:C000007801Member index:BasedonMarketPriceMember 2025-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:C000007801Member index:BasedonMarketPriceMember 2021-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:C000007801Member index:BasedonMarketPriceMember 2016-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:CRSPUSSmallCapGrowthIndexMember 2025-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:CRSPUSSmallCapGrowthIndexMember 2021-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:CRSPUSSmallCapGrowthIndexMember 2016-01-01 2025-12-31 0000036405 index:InvestorProspectusMember index:S000002839Member index:C000007773Member 2018-01-01 2018-12-31 0000036405 index:InvestorProspectusMember index:S000002839Member index:C000007773Member 2019-01-01 2019-12-31 0000036405 index:InvestorProspectusMember index:S000002839Member index:C000007773Member 2020-01-01 2020-12-31 0000036405 index:InvestorProspectusMember index:S000002839Member index:C000007773Member 2021-01-01 2021-12-31 0000036405 index:InvestorProspectusMember index:S000002839Member index:C000007773Member 2022-01-01 2022-12-31 0000036405 index:InvestorProspectusMember index:S000002839Member index:C000007773Member 2023-01-01 2023-12-31 0000036405 index:InvestorProspectusMember index:S000002839Member index:C000007773Member 2024-01-01 2024-12-31 0000036405 index:InvestorProspectusMember index:S000002839Member index:C000007773Member 2025-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:S000002839Member index:C000007774Member 2018-01-01 2018-12-31 0000036405 index:AdmiralProspectusMember index:S000002839Member index:C000007774Member 2019-01-01 2019-12-31 0000036405 index:AdmiralProspectusMember index:S000002839Member index:C000007774Member 2020-01-01 2020-12-31 0000036405 index:AdmiralProspectusMember index:S000002839Member index:C000007774Member 2021-01-01 2021-12-31 0000036405 index:AdmiralProspectusMember index:S000002839Member index:C000007774Member 2022-01-01 2022-12-31 0000036405 index:AdmiralProspectusMember index:S000002839Member index:C000007774Member 2023-01-01 2023-12-31 0000036405 index:AdmiralProspectusMember index:S000002839Member index:C000007774Member 2024-01-01 2024-12-31 0000036405 index:AdmiralProspectusMember index:S000002839Member index:C000007774Member 2025-01-01 2025-12-31 0000036405 index:InstitutionalSelectProspectusMember index:S000002839Member index:C000170274Member 2018-01-01 2018-12-31 0000036405 index:InstitutionalSelectProspectusMember index:S000002839Member index:C000170274Member 2019-01-01 2019-12-31 0000036405 index:InstitutionalSelectProspectusMember index:S000002839Member index:C000170274Member 2020-01-01 2020-12-31 0000036405 index:InstitutionalSelectProspectusMember index:S000002839Member index:C000170274Member 2021-01-01 2021-12-31 0000036405 index:InstitutionalSelectProspectusMember index:S000002839Member index:C000170274Member 2022-01-01 2022-12-31 0000036405 index:InstitutionalSelectProspectusMember index:S000002839Member index:C000170274Member 2023-01-01 2023-12-31 0000036405 index:InstitutionalSelectProspectusMember index:S000002839Member index:C000170274Member 2024-01-01 2024-12-31 0000036405 index:InstitutionalSelectProspectusMember index:S000002839Member index:C000170274Member 2025-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:S000002839Member index:C000092055Member 2018-01-01 2018-12-31 0000036405 index:ETFProspectusMember index:S000002839Member index:C000092055Member 2019-01-01 2019-12-31 0000036405 index:ETFProspectusMember index:S000002839Member index:C000092055Member 2020-01-01 2020-12-31 0000036405 index:ETFProspectusMember index:S000002839Member index:C000092055Member 2021-01-01 2021-12-31 0000036405 index:ETFProspectusMember index:S000002839Member index:C000092055Member 2022-01-01 2022-12-31 0000036405 index:ETFProspectusMember index:S000002839Member index:C000092055Member 2023-01-01 2023-12-31 0000036405 index:ETFProspectusMember index:S000002839Member index:C000092055Member 2024-01-01 2024-12-31 0000036405 index:ETFProspectusMember index:S000002839Member index:C000092055Member 2025-01-01 2025-12-31 0000036405 index:InvestorProspectusMember index:S000002844Member index:C000007791Member 2018-01-01 2018-12-31 0000036405 index:InvestorProspectusMember index:S000002844Member index:C000007791Member 2019-01-01 2019-12-31 0000036405 index:InvestorProspectusMember index:S000002844Member index:C000007791Member 2020-01-01 2020-12-31 0000036405 index:InvestorProspectusMember index:S000002844Member index:C000007791Member 2021-01-01 2021-12-31 0000036405 index:InvestorProspectusMember index:S000002844Member index:C000007791Member 2022-01-01 2022-12-31 0000036405 index:InvestorProspectusMember index:S000002844Member index:C000007791Member 2023-01-01 2023-12-31 0000036405 index:InvestorProspectusMember index:S000002844Member index:C000007791Member 2024-01-01 2024-12-31 0000036405 index:InvestorProspectusMember index:S000002844Member index:C000007791Member 2025-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:S000002844Member index:C000007792Member 2018-01-01 2018-12-31 0000036405 index:AdmiralProspectusMember index:S000002844Member index:C000007792Member 2019-01-01 2019-12-31 0000036405 index:AdmiralProspectusMember index:S000002844Member index:C000007792Member 2020-01-01 2020-12-31 0000036405 index:AdmiralProspectusMember index:S000002844Member index:C000007792Member 2021-01-01 2021-12-31 0000036405 index:AdmiralProspectusMember index:S000002844Member index:C000007792Member 2022-01-01 2022-12-31 0000036405 index:AdmiralProspectusMember index:S000002844Member index:C000007792Member 2023-01-01 2023-12-31 0000036405 index:AdmiralProspectusMember index:S000002844Member index:C000007792Member 2024-01-01 2024-12-31 0000036405 index:AdmiralProspectusMember index:S000002844Member index:C000007792Member 2025-01-01 2025-12-31 0000036405 index:InstitutionalProspectusMember index:S000002844Member index:C000007793Member 2018-01-01 2018-12-31 0000036405 index:InstitutionalProspectusMember index:S000002844Member index:C000007793Member 2019-01-01 2019-12-31 0000036405 index:InstitutionalProspectusMember index:S000002844Member index:C000007793Member 2020-01-01 2020-12-31 0000036405 index:InstitutionalProspectusMember index:S000002844Member index:C000007793Member 2021-01-01 2021-12-31 0000036405 index:InstitutionalProspectusMember index:S000002844Member index:C000007793Member 2022-01-01 2022-12-31 0000036405 index:InstitutionalProspectusMember index:S000002844Member index:C000007793Member 2023-01-01 2023-12-31 0000036405 index:InstitutionalProspectusMember index:S000002844Member index:C000007793Member 2024-01-01 2024-12-31 0000036405 index:InstitutionalProspectusMember index:S000002844Member index:C000007793Member 2025-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:S000002844Member index:C000007794Member 2018-01-01 2018-12-31 0000036405 index:ETFProspectusMember index:S000002844Member index:C000007794Member 2019-01-01 2019-12-31 0000036405 index:ETFProspectusMember index:S000002844Member index:C000007794Member 2020-01-01 2020-12-31 0000036405 index:ETFProspectusMember index:S000002844Member index:C000007794Member 2021-01-01 2021-12-31 0000036405 index:ETFProspectusMember index:S000002844Member index:C000007794Member 2022-01-01 2022-12-31 0000036405 index:ETFProspectusMember index:S000002844Member index:C000007794Member 2023-01-01 2023-12-31 0000036405 index:ETFProspectusMember index:S000002844Member index:C000007794Member 2024-01-01 2024-12-31 0000036405 index:ETFProspectusMember index:S000002844Member index:C000007794Member 2025-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:S000002848Member index:C000007808Member 2018-01-01 2018-12-31 0000036405 index:ETFProspectusMember index:S000002848Member index:C000007808Member 2019-01-01 2019-12-31 0000036405 index:ETFProspectusMember index:S000002848Member index:C000007808Member 2020-01-01 2020-12-31 0000036405 index:ETFProspectusMember index:S000002848Member index:C000007808Member 2021-01-01 2021-12-31 0000036405 index:ETFProspectusMember index:S000002848Member index:C000007808Member 2022-01-01 2022-12-31 0000036405 index:ETFProspectusMember index:S000002848Member index:C000007808Member 2023-01-01 2023-12-31 0000036405 index:ETFProspectusMember index:S000002848Member index:C000007808Member 2024-01-01 2024-12-31 0000036405 index:ETFProspectusMember index:S000002848Member index:C000007808Member 2025-01-01 2025-12-31 0000036405 index:InstitutionalSelectProspectusMember index:S000002848Member index:C000170276Member 2018-01-01 2018-12-31 0000036405 index:InstitutionalSelectProspectusMember index:S000002848Member index:C000170276Member 2019-01-01 2019-12-31 0000036405 index:InstitutionalSelectProspectusMember index:S000002848Member index:C000170276Member 2020-01-01 2020-12-31 0000036405 index:InstitutionalSelectProspectusMember index:S000002848Member index:C000170276Member 2021-01-01 2021-12-31 0000036405 index:InstitutionalSelectProspectusMember index:S000002848Member index:C000170276Member 2022-01-01 2022-12-31 0000036405 index:InstitutionalSelectProspectusMember index:S000002848Member index:C000170276Member 2023-01-01 2023-12-31 0000036405 index:InstitutionalSelectProspectusMember index:S000002848Member index:C000170276Member 2024-01-01 2024-12-31 0000036405 index:InstitutionalSelectProspectusMember index:S000002848Member index:C000170276Member 2025-01-01 2025-12-31 0000036405 index:InvestorProspectusMember index:S000002848Member index:C000007805Member 2018-01-01 2018-12-31 0000036405 index:InvestorProspectusMember index:S000002848Member index:C000007805Member 2019-01-01 2019-12-31 0000036405 index:InvestorProspectusMember index:S000002848Member index:C000007805Member 2020-01-01 2020-12-31 0000036405 index:InvestorProspectusMember index:S000002848Member index:C000007805Member 2021-01-01 2021-12-31 0000036405 index:InvestorProspectusMember index:S000002848Member index:C000007805Member 2022-01-01 2022-12-31 0000036405 index:InvestorProspectusMember index:S000002848Member index:C000007805Member 2023-01-01 2023-12-31 0000036405 index:InvestorProspectusMember index:S000002848Member index:C000007805Member 2024-01-01 2024-12-31 0000036405 index:InvestorProspectusMember index:S000002848Member index:C000007805Member 2025-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:S000002848Member index:C000007806Member 2018-01-01 2018-12-31 0000036405 index:AdmiralProspectusMember index:S000002848Member index:C000007806Member 2019-01-01 2019-12-31 0000036405 index:AdmiralProspectusMember index:S000002848Member index:C000007806Member 2020-01-01 2020-12-31 0000036405 index:AdmiralProspectusMember index:S000002848Member index:C000007806Member 2021-01-01 2021-12-31 0000036405 index:AdmiralProspectusMember index:S000002848Member index:C000007806Member 2022-01-01 2022-12-31 0000036405 index:AdmiralProspectusMember index:S000002848Member index:C000007806Member 2023-01-01 2023-12-31 0000036405 index:AdmiralProspectusMember index:S000002848Member index:C000007806Member 2024-01-01 2024-12-31 0000036405 index:AdmiralProspectusMember index:S000002848Member index:C000007806Member 2025-01-01 2025-12-31 0000036405 index:InstitutionalProspectusMember index:S000002848Member index:C000007807Member 2018-01-01 2018-12-31 0000036405 index:InstitutionalProspectusMember index:S000002848Member index:C000007807Member 2019-01-01 2019-12-31 0000036405 index:InstitutionalProspectusMember index:S000002848Member index:C000007807Member 2020-01-01 2020-12-31 0000036405 index:InstitutionalProspectusMember index:S000002848Member index:C000007807Member 2021-01-01 2021-12-31 0000036405 index:InstitutionalProspectusMember index:S000002848Member index:C000007807Member 2022-01-01 2022-12-31 0000036405 index:InstitutionalProspectusMember index:S000002848Member index:C000007807Member 2023-01-01 2023-12-31 0000036405 index:InstitutionalProspectusMember index:S000002848Member index:C000007807Member 2024-01-01 2024-12-31 0000036405 index:InstitutionalProspectusMember index:S000002848Member index:C000007807Member 2025-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:S000002840Member index:C000007778Member 2018-01-01 2018-12-31 0000036405 index:ETFProspectusMember index:S000002840Member index:C000007778Member 2019-01-01 2019-12-31 0000036405 index:ETFProspectusMember index:S000002840Member index:C000007778Member 2020-01-01 2020-12-31 0000036405 index:ETFProspectusMember index:S000002840Member index:C000007778Member 2021-01-01 2021-12-31 0000036405 index:ETFProspectusMember index:S000002840Member index:C000007778Member 2022-01-01 2022-12-31 0000036405 index:ETFProspectusMember index:S000002840Member index:C000007778Member 2023-01-01 2023-12-31 0000036405 index:ETFProspectusMember index:S000002840Member index:C000007778Member 2024-01-01 2024-12-31 0000036405 index:ETFProspectusMember index:S000002840Member index:C000007778Member 2025-01-01 2025-12-31 0000036405 index:InvestorProspectusMember index:S000002840Member index:C000007775Member 2018-01-01 2018-12-31 0000036405 index:InvestorProspectusMember index:S000002840Member index:C000007775Member 2019-01-01 2019-12-31 0000036405 index:InvestorProspectusMember index:S000002840Member index:C000007775Member 2020-01-01 2020-12-31 0000036405 index:InvestorProspectusMember index:S000002840Member index:C000007775Member 2021-01-01 2021-12-31 0000036405 index:InvestorProspectusMember index:S000002840Member index:C000007775Member 2022-01-01 2022-12-31 0000036405 index:InvestorProspectusMember index:S000002840Member index:C000007775Member 2023-01-01 2023-12-31 0000036405 index:InvestorProspectusMember index:S000002840Member index:C000007775Member 2024-01-01 2024-12-31 0000036405 index:InvestorProspectusMember index:S000002840Member index:C000007775Member 2025-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:S000002840Member index:C000007776Member 2018-01-01 2018-12-31 0000036405 index:AdmiralProspectusMember index:S000002840Member index:C000007776Member 2019-01-01 2019-12-31 0000036405 index:AdmiralProspectusMember index:S000002840Member index:C000007776Member 2020-01-01 2020-12-31 0000036405 index:AdmiralProspectusMember index:S000002840Member index:C000007776Member 2021-01-01 2021-12-31 0000036405 index:AdmiralProspectusMember index:S000002840Member index:C000007776Member 2022-01-01 2022-12-31 0000036405 index:AdmiralProspectusMember index:S000002840Member index:C000007776Member 2023-01-01 2023-12-31 0000036405 index:AdmiralProspectusMember index:S000002840Member index:C000007776Member 2024-01-01 2024-12-31 0000036405 index:AdmiralProspectusMember index:S000002840Member index:C000007776Member 2025-01-01 2025-12-31 0000036405 index:InstitutionalProspectusMember index:S000002840Member index:C000007777Member 2018-01-01 2018-12-31 0000036405 index:InstitutionalProspectusMember index:S000002840Member index:C000007777Member 2019-01-01 2019-12-31 0000036405 index:InstitutionalProspectusMember index:S000002840Member index:C000007777Member 2020-01-01 2020-12-31 0000036405 index:InstitutionalProspectusMember index:S000002840Member index:C000007777Member 2021-01-01 2021-12-31 0000036405 index:InstitutionalProspectusMember index:S000002840Member index:C000007777Member 2022-01-01 2022-12-31 0000036405 index:InstitutionalProspectusMember index:S000002840Member index:C000007777Member 2023-01-01 2023-12-31 0000036405 index:InstitutionalProspectusMember index:S000002840Member index:C000007777Member 2024-01-01 2024-12-31 0000036405 index:InstitutionalProspectusMember index:S000002840Member index:C000007777Member 2025-01-01 2025-12-31 0000036405 index:InvestorProspectusMember index:S000002847Member index:C000007802Member 2018-01-01 2018-12-31 0000036405 index:InvestorProspectusMember index:S000002847Member index:C000007802Member 2019-01-01 2019-12-31 0000036405 index:InvestorProspectusMember index:S000002847Member index:C000007802Member 2020-01-01 2020-12-31 0000036405 index:InvestorProspectusMember index:S000002847Member index:C000007802Member 2021-01-01 2021-12-31 0000036405 index:InvestorProspectusMember index:S000002847Member index:C000007802Member 2022-01-01 2022-12-31 0000036405 index:InvestorProspectusMember index:S000002847Member index:C000007802Member 2023-01-01 2023-12-31 0000036405 index:InvestorProspectusMember index:S000002847Member index:C000007802Member 2024-01-01 2024-12-31 0000036405 index:InvestorProspectusMember index:S000002847Member index:C000007802Member 2025-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:S000002847Member index:C000105305Member 2018-01-01 2018-12-31 0000036405 index:AdmiralProspectusMember index:S000002847Member index:C000105305Member 2019-01-01 2019-12-31 0000036405 index:AdmiralProspectusMember index:S000002847Member index:C000105305Member 2020-01-01 2020-12-31 0000036405 index:AdmiralProspectusMember index:S000002847Member index:C000105305Member 2021-01-01 2021-12-31 0000036405 index:AdmiralProspectusMember index:S000002847Member index:C000105305Member 2022-01-01 2022-12-31 0000036405 index:AdmiralProspectusMember index:S000002847Member index:C000105305Member 2023-01-01 2023-12-31 0000036405 index:AdmiralProspectusMember index:S000002847Member index:C000105305Member 2024-01-01 2024-12-31 0000036405 index:AdmiralProspectusMember index:S000002847Member index:C000105305Member 2025-01-01 2025-12-31 0000036405 index:InstitutionalProspectusMember index:S000002847Member index:C000007803Member 2018-01-01 2018-12-31 0000036405 index:InstitutionalProspectusMember index:S000002847Member index:C000007803Member 2019-01-01 2019-12-31 0000036405 index:InstitutionalProspectusMember index:S000002847Member index:C000007803Member 2020-01-01 2020-12-31 0000036405 index:InstitutionalProspectusMember index:S000002847Member index:C000007803Member 2021-01-01 2021-12-31 0000036405 index:InstitutionalProspectusMember index:S000002847Member index:C000007803Member 2022-01-01 2022-12-31 0000036405 index:InstitutionalProspectusMember index:S000002847Member index:C000007803Member 2023-01-01 2023-12-31 0000036405 index:InstitutionalProspectusMember index:S000002847Member index:C000007803Member 2024-01-01 2024-12-31 0000036405 index:InstitutionalProspectusMember index:S000002847Member index:C000007803Member 2025-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:S000002847Member index:C000007804Member 2018-01-01 2018-12-31 0000036405 index:ETFProspectusMember index:S000002847Member index:C000007804Member 2019-01-01 2019-12-31 0000036405 index:ETFProspectusMember index:S000002847Member index:C000007804Member 2020-01-01 2020-12-31 0000036405 index:ETFProspectusMember index:S000002847Member index:C000007804Member 2021-01-01 2021-12-31 0000036405 index:ETFProspectusMember index:S000002847Member index:C000007804Member 2022-01-01 2022-12-31 0000036405 index:ETFProspectusMember index:S000002847Member index:C000007804Member 2023-01-01 2023-12-31 0000036405 index:ETFProspectusMember index:S000002847Member index:C000007804Member 2024-01-01 2024-12-31 0000036405 index:ETFProspectusMember index:S000002847Member index:C000007804Member 2025-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:S000002842Member index:C000007786Member 2018-01-01 2018-12-31 0000036405 index:ETFProspectusMember index:S000002842Member index:C000007786Member 2019-01-01 2019-12-31 0000036405 index:ETFProspectusMember index:S000002842Member index:C000007786Member 2020-01-01 2020-12-31 0000036405 index:ETFProspectusMember index:S000002842Member index:C000007786Member 2021-01-01 2021-12-31 0000036405 index:ETFProspectusMember index:S000002842Member index:C000007786Member 2022-01-01 2022-12-31 0000036405 index:ETFProspectusMember index:S000002842Member index:C000007786Member 2023-01-01 2023-12-31 0000036405 index:ETFProspectusMember index:S000002842Member index:C000007786Member 2024-01-01 2024-12-31 0000036405 index:ETFProspectusMember index:S000002842Member index:C000007786Member 2025-01-01 2025-12-31 0000036405 index:InvestorProspectusMember index:S000002842Member index:C000007783Member 2018-01-01 2018-12-31 0000036405 index:InvestorProspectusMember index:S000002842Member index:C000007783Member 2019-01-01 2019-12-31 0000036405 index:InvestorProspectusMember index:S000002842Member index:C000007783Member 2020-01-01 2020-12-31 0000036405 index:InvestorProspectusMember index:S000002842Member index:C000007783Member 2021-01-01 2021-12-31 0000036405 index:InvestorProspectusMember index:S000002842Member index:C000007783Member 2022-01-01 2022-12-31 0000036405 index:InvestorProspectusMember index:S000002842Member index:C000007783Member 2023-01-01 2023-12-31 0000036405 index:InvestorProspectusMember index:S000002842Member index:C000007783Member 2024-01-01 2024-12-31 0000036405 index:InvestorProspectusMember index:S000002842Member index:C000007783Member 2025-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:S000002842Member index:C000007784Member 2018-01-01 2018-12-31 0000036405 index:AdmiralProspectusMember index:S000002842Member index:C000007784Member 2019-01-01 2019-12-31 0000036405 index:AdmiralProspectusMember index:S000002842Member index:C000007784Member 2020-01-01 2020-12-31 0000036405 index:AdmiralProspectusMember index:S000002842Member index:C000007784Member 2021-01-01 2021-12-31 0000036405 index:AdmiralProspectusMember index:S000002842Member index:C000007784Member 2022-01-01 2022-12-31 0000036405 index:AdmiralProspectusMember index:S000002842Member index:C000007784Member 2023-01-01 2023-12-31 0000036405 index:AdmiralProspectusMember index:S000002842Member index:C000007784Member 2024-01-01 2024-12-31 0000036405 index:AdmiralProspectusMember index:S000002842Member index:C000007784Member 2025-01-01 2025-12-31 0000036405 index:InstitutionalProspectusMember index:S000002842Member index:C000007785Member 2018-01-01 2018-12-31 0000036405 index:InstitutionalProspectusMember index:S000002842Member index:C000007785Member 2019-01-01 2019-12-31 0000036405 index:InstitutionalProspectusMember index:S000002842Member index:C000007785Member 2020-01-01 2020-12-31 0000036405 index:InstitutionalProspectusMember index:S000002842Member index:C000007785Member 2021-01-01 2021-12-31 0000036405 index:InstitutionalProspectusMember index:S000002842Member index:C000007785Member 2022-01-01 2022-12-31 0000036405 index:InstitutionalProspectusMember index:S000002842Member index:C000007785Member 2023-01-01 2023-12-31 0000036405 index:InstitutionalProspectusMember index:S000002842Member index:C000007785Member 2024-01-01 2024-12-31 0000036405 index:InstitutionalProspectusMember index:S000002842Member index:C000007785Member 2025-01-01 2025-12-31 0000036405 index:InvestorProspectusMember index:S000012756Member index:C000034427Member 2018-01-01 2018-12-31 0000036405 index:InvestorProspectusMember index:S000012756Member index:C000034427Member 2019-01-01 2019-12-31 0000036405 index:InvestorProspectusMember index:S000012756Member index:C000034427Member 2020-01-01 2020-12-31 0000036405 index:InvestorProspectusMember index:S000012756Member index:C000034427Member 2021-01-01 2021-12-31 0000036405 index:InvestorProspectusMember index:S000012756Member index:C000034427Member 2022-01-01 2022-12-31 0000036405 index:InvestorProspectusMember index:S000012756Member index:C000034427Member 2023-01-01 2023-12-31 0000036405 index:InvestorProspectusMember index:S000012756Member index:C000034427Member 2024-01-01 2024-12-31 0000036405 index:InvestorProspectusMember index:S000012756Member index:C000034427Member 2025-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:S000012756Member index:C000105306Member 2018-01-01 2018-12-31 0000036405 index:AdmiralProspectusMember index:S000012756Member index:C000105306Member 2019-01-01 2019-12-31 0000036405 index:AdmiralProspectusMember index:S000012756Member index:C000105306Member 2020-01-01 2020-12-31 0000036405 index:AdmiralProspectusMember index:S000012756Member index:C000105306Member 2021-01-01 2021-12-31 0000036405 index:AdmiralProspectusMember index:S000012756Member index:C000105306Member 2022-01-01 2022-12-31 0000036405 index:AdmiralProspectusMember index:S000012756Member index:C000105306Member 2023-01-01 2023-12-31 0000036405 index:AdmiralProspectusMember index:S000012756Member index:C000105306Member 2024-01-01 2024-12-31 0000036405 index:AdmiralProspectusMember index:S000012756Member index:C000105306Member 2025-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:S000012756Member index:C000034428Member 2018-01-01 2018-12-31 0000036405 index:ETFProspectusMember index:S000012756Member index:C000034428Member 2019-01-01 2019-12-31 0000036405 index:ETFProspectusMember index:S000012756Member index:C000034428Member 2020-01-01 2020-12-31 0000036405 index:ETFProspectusMember index:S000012756Member index:C000034428Member 2021-01-01 2021-12-31 0000036405 index:ETFProspectusMember index:S000012756Member index:C000034428Member 2022-01-01 2022-12-31 0000036405 index:ETFProspectusMember index:S000012756Member index:C000034428Member 2023-01-01 2023-12-31 0000036405 index:ETFProspectusMember index:S000012756Member index:C000034428Member 2024-01-01 2024-12-31 0000036405 index:ETFProspectusMember index:S000012756Member index:C000034428Member 2025-01-01 2025-12-31 0000036405 index:InvestorProspectusMember index:S000002846Member index:C000007799Member 2018-01-01 2018-12-31 0000036405 index:InvestorProspectusMember index:S000002846Member index:C000007799Member 2019-01-01 2019-12-31 0000036405 index:InvestorProspectusMember index:S000002846Member index:C000007799Member 2020-01-01 2020-12-31 0000036405 index:InvestorProspectusMember index:S000002846Member index:C000007799Member 2021-01-01 2021-12-31 0000036405 index:InvestorProspectusMember index:S000002846Member index:C000007799Member 2022-01-01 2022-12-31 0000036405 index:InvestorProspectusMember index:S000002846Member index:C000007799Member 2023-01-01 2023-12-31 0000036405 index:InvestorProspectusMember index:S000002846Member index:C000007799Member 2024-01-01 2024-12-31 0000036405 index:InvestorProspectusMember index:S000002846Member index:C000007799Member 2025-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:S000002846Member index:C000105304Member 2018-01-01 2018-12-31 0000036405 index:AdmiralProspectusMember index:S000002846Member index:C000105304Member 2019-01-01 2019-12-31 0000036405 index:AdmiralProspectusMember index:S000002846Member index:C000105304Member 2020-01-01 2020-12-31 0000036405 index:AdmiralProspectusMember index:S000002846Member index:C000105304Member 2021-01-01 2021-12-31 0000036405 index:AdmiralProspectusMember index:S000002846Member index:C000105304Member 2022-01-01 2022-12-31 0000036405 index:AdmiralProspectusMember index:S000002846Member index:C000105304Member 2023-01-01 2023-12-31 0000036405 index:AdmiralProspectusMember index:S000002846Member index:C000105304Member 2024-01-01 2024-12-31 0000036405 index:AdmiralProspectusMember index:S000002846Member index:C000105304Member 2025-01-01 2025-12-31 0000036405 index:InstitutionalProspectusMember index:S000002846Member index:C000007800Member 2018-01-01 2018-12-31 0000036405 index:InstitutionalProspectusMember index:S000002846Member index:C000007800Member 2019-01-01 2019-12-31 0000036405 index:InstitutionalProspectusMember index:S000002846Member index:C000007800Member 2020-01-01 2020-12-31 0000036405 index:InstitutionalProspectusMember index:S000002846Member index:C000007800Member 2021-01-01 2021-12-31 0000036405 index:InstitutionalProspectusMember index:S000002846Member index:C000007800Member 2022-01-01 2022-12-31 0000036405 index:InstitutionalProspectusMember index:S000002846Member index:C000007800Member 2023-01-01 2023-12-31 0000036405 index:InstitutionalProspectusMember index:S000002846Member index:C000007800Member 2024-01-01 2024-12-31 0000036405 index:InstitutionalProspectusMember index:S000002846Member index:C000007800Member 2025-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:S000002846Member index:C000007801Member 2018-01-01 2018-12-31 0000036405 index:ETFProspectusMember index:S000002846Member index:C000007801Member 2019-01-01 2019-12-31 0000036405 index:ETFProspectusMember index:S000002846Member index:C000007801Member 2020-01-01 2020-12-31 0000036405 index:ETFProspectusMember index:S000002846Member index:C000007801Member 2021-01-01 2021-12-31 0000036405 index:ETFProspectusMember index:S000002846Member index:C000007801Member 2022-01-01 2022-12-31 0000036405 index:ETFProspectusMember index:S000002846Member index:C000007801Member 2023-01-01 2023-12-31 0000036405 index:ETFProspectusMember index:S000002846Member index:C000007801Member 2024-01-01 2024-12-31 0000036405 index:ETFProspectusMember index:S000002846Member index:C000007801Member 2025-01-01 2025-12-31 0000036405 index:InvestorProspectusMember index:S000002841Member index:C000007779Member 2018-01-01 2018-12-31 0000036405 index:InvestorProspectusMember index:S000002841Member index:C000007779Member 2019-01-01 2019-12-31 0000036405 index:InvestorProspectusMember index:S000002841Member index:C000007779Member 2020-01-01 2020-12-31 0000036405 index:InvestorProspectusMember index:S000002841Member index:C000007779Member 2021-01-01 2021-12-31 0000036405 index:InvestorProspectusMember index:S000002841Member index:C000007779Member 2022-01-01 2022-12-31 0000036405 index:InvestorProspectusMember index:S000002841Member index:C000007779Member 2023-01-01 2023-12-31 0000036405 index:InvestorProspectusMember index:S000002841Member index:C000007779Member 2024-01-01 2024-12-31 0000036405 index:InvestorProspectusMember index:S000002841Member index:C000007779Member 2025-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:S000002841Member index:C000007780Member 2018-01-01 2018-12-31 0000036405 index:AdmiralProspectusMember index:S000002841Member index:C000007780Member 2019-01-01 2019-12-31 0000036405 index:AdmiralProspectusMember index:S000002841Member index:C000007780Member 2020-01-01 2020-12-31 0000036405 index:AdmiralProspectusMember index:S000002841Member index:C000007780Member 2021-01-01 2021-12-31 0000036405 index:AdmiralProspectusMember index:S000002841Member index:C000007780Member 2022-01-01 2022-12-31 0000036405 index:AdmiralProspectusMember index:S000002841Member index:C000007780Member 2023-01-01 2023-12-31 0000036405 index:AdmiralProspectusMember index:S000002841Member index:C000007780Member 2024-01-01 2024-12-31 0000036405 index:AdmiralProspectusMember index:S000002841Member index:C000007780Member 2025-01-01 2025-12-31 0000036405 index:InstitutionalProspectusMember index:S000002841Member index:C000007781Member 2018-01-01 2018-12-31 0000036405 index:InstitutionalProspectusMember index:S000002841Member index:C000007781Member 2019-01-01 2019-12-31 0000036405 index:InstitutionalProspectusMember index:S000002841Member index:C000007781Member 2020-01-01 2020-12-31 0000036405 index:InstitutionalProspectusMember index:S000002841Member index:C000007781Member 2021-01-01 2021-12-31 0000036405 index:InstitutionalProspectusMember index:S000002841Member index:C000007781Member 2022-01-01 2022-12-31 0000036405 index:InstitutionalProspectusMember index:S000002841Member index:C000007781Member 2023-01-01 2023-12-31 0000036405 index:InstitutionalProspectusMember index:S000002841Member index:C000007781Member 2024-01-01 2024-12-31 0000036405 index:InstitutionalProspectusMember index:S000002841Member index:C000007781Member 2025-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:S000002841Member index:C000007782Member 2018-01-01 2018-12-31 0000036405 index:ETFProspectusMember index:S000002841Member index:C000007782Member 2019-01-01 2019-12-31 0000036405 index:ETFProspectusMember index:S000002841Member index:C000007782Member 2020-01-01 2020-12-31 0000036405 index:ETFProspectusMember index:S000002841Member index:C000007782Member 2021-01-01 2021-12-31 0000036405 index:ETFProspectusMember index:S000002841Member index:C000007782Member 2022-01-01 2022-12-31 0000036405 index:ETFProspectusMember index:S000002841Member index:C000007782Member 2023-01-01 2023-12-31 0000036405 index:ETFProspectusMember index:S000002841Member index:C000007782Member 2024-01-01 2024-12-31 0000036405 index:ETFProspectusMember index:S000002841Member index:C000007782Member 2025-01-01 2025-12-31 0000036405 index:InvestorProspectusMember index:S000002845Member index:C000007795Member 2018-01-01 2018-12-31 0000036405 index:InvestorProspectusMember index:S000002845Member index:C000007795Member 2019-01-01 2019-12-31 0000036405 index:InvestorProspectusMember index:S000002845Member index:C000007795Member 2020-01-01 2020-12-31 0000036405 index:InvestorProspectusMember index:S000002845Member index:C000007795Member 2021-01-01 2021-12-31 0000036405 index:InvestorProspectusMember index:S000002845Member index:C000007795Member 2022-01-01 2022-12-31 0000036405 index:InvestorProspectusMember index:S000002845Member index:C000007795Member 2023-01-01 2023-12-31 0000036405 index:InvestorProspectusMember index:S000002845Member index:C000007795Member 2024-01-01 2024-12-31 0000036405 index:InvestorProspectusMember index:S000002845Member index:C000007795Member 2025-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:S000002845Member index:C000007796Member 2018-01-01 2018-12-31 0000036405 index:AdmiralProspectusMember index:S000002845Member index:C000007796Member 2019-01-01 2019-12-31 0000036405 index:AdmiralProspectusMember index:S000002845Member index:C000007796Member 2020-01-01 2020-12-31 0000036405 index:AdmiralProspectusMember index:S000002845Member index:C000007796Member 2021-01-01 2021-12-31 0000036405 index:AdmiralProspectusMember index:S000002845Member index:C000007796Member 2022-01-01 2022-12-31 0000036405 index:AdmiralProspectusMember index:S000002845Member index:C000007796Member 2023-01-01 2023-12-31 0000036405 index:AdmiralProspectusMember index:S000002845Member index:C000007796Member 2024-01-01 2024-12-31 0000036405 index:AdmiralProspectusMember index:S000002845Member index:C000007796Member 2025-01-01 2025-12-31 0000036405 index:InstitutionalProspectusMember index:S000002845Member index:C000007797Member 2018-01-01 2018-12-31 0000036405 index:InstitutionalProspectusMember index:S000002845Member index:C000007797Member 2019-01-01 2019-12-31 0000036405 index:InstitutionalProspectusMember index:S000002845Member index:C000007797Member 2020-01-01 2020-12-31 0000036405 index:InstitutionalProspectusMember index:S000002845Member index:C000007797Member 2021-01-01 2021-12-31 0000036405 index:InstitutionalProspectusMember index:S000002845Member index:C000007797Member 2022-01-01 2022-12-31 0000036405 index:InstitutionalProspectusMember index:S000002845Member index:C000007797Member 2023-01-01 2023-12-31 0000036405 index:InstitutionalProspectusMember index:S000002845Member index:C000007797Member 2024-01-01 2024-12-31 0000036405 index:InstitutionalProspectusMember index:S000002845Member index:C000007797Member 2025-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:S000002845Member index:C000007798Member 2018-01-01 2018-12-31 0000036405 index:ETFProspectusMember index:S000002845Member index:C000007798Member 2019-01-01 2019-12-31 0000036405 index:ETFProspectusMember index:S000002845Member index:C000007798Member 2020-01-01 2020-12-31 0000036405 index:ETFProspectusMember index:S000002845Member index:C000007798Member 2021-01-01 2021-12-31 0000036405 index:ETFProspectusMember index:S000002845Member index:C000007798Member 2022-01-01 2022-12-31 0000036405 index:ETFProspectusMember index:S000002845Member index:C000007798Member 2023-01-01 2023-12-31 0000036405 index:ETFProspectusMember index:S000002845Member index:C000007798Member 2024-01-01 2024-12-31 0000036405 index:ETFProspectusMember index:S000002845Member index:C000007798Member 2025-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:S000002843Member index:C000007790Member 2018-01-01 2018-12-31 0000036405 index:ETFProspectusMember index:S000002843Member index:C000007790Member 2019-01-01 2019-12-31 0000036405 index:ETFProspectusMember index:S000002843Member index:C000007790Member 2020-01-01 2020-12-31 0000036405 index:ETFProspectusMember index:S000002843Member index:C000007790Member 2021-01-01 2021-12-31 0000036405 index:ETFProspectusMember index:S000002843Member index:C000007790Member 2022-01-01 2022-12-31 0000036405 index:ETFProspectusMember index:S000002843Member index:C000007790Member 2023-01-01 2023-12-31 0000036405 index:ETFProspectusMember index:S000002843Member index:C000007790Member 2024-01-01 2024-12-31 0000036405 index:ETFProspectusMember index:S000002843Member index:C000007790Member 2025-01-01 2025-12-31 0000036405 index:InvestorProspectusMember index:S000002843Member index:C000007787Member 2018-01-01 2018-12-31 0000036405 index:InvestorProspectusMember index:S000002843Member index:C000007787Member 2019-01-01 2019-12-31 0000036405 index:InvestorProspectusMember index:S000002843Member index:C000007787Member 2020-01-01 2020-12-31 0000036405 index:InvestorProspectusMember index:S000002843Member index:C000007787Member 2021-01-01 2021-12-31 0000036405 index:InvestorProspectusMember index:S000002843Member index:C000007787Member 2022-01-01 2022-12-31 0000036405 index:InvestorProspectusMember index:S000002843Member index:C000007787Member 2023-01-01 2023-12-31 0000036405 index:InvestorProspectusMember index:S000002843Member index:C000007787Member 2024-01-01 2024-12-31 0000036405 index:InvestorProspectusMember index:S000002843Member index:C000007787Member 2025-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:S000002843Member index:C000007788Member 2018-01-01 2018-12-31 0000036405 index:AdmiralProspectusMember index:S000002843Member index:C000007788Member 2019-01-01 2019-12-31 0000036405 index:AdmiralProspectusMember index:S000002843Member index:C000007788Member 2020-01-01 2020-12-31 0000036405 index:AdmiralProspectusMember index:S000002843Member index:C000007788Member 2021-01-01 2021-12-31 0000036405 index:AdmiralProspectusMember index:S000002843Member index:C000007788Member 2022-01-01 2022-12-31 0000036405 index:AdmiralProspectusMember index:S000002843Member index:C000007788Member 2023-01-01 2023-12-31 0000036405 index:AdmiralProspectusMember index:S000002843Member index:C000007788Member 2024-01-01 2024-12-31 0000036405 index:AdmiralProspectusMember index:S000002843Member index:C000007788Member 2025-01-01 2025-12-31 0000036405 index:InstitutionalProspectusMember index:S000002843Member index:C000007789Member 2018-01-01 2018-12-31 0000036405 index:InstitutionalProspectusMember index:S000002843Member index:C000007789Member 2019-01-01 2019-12-31 0000036405 index:InstitutionalProspectusMember index:S000002843Member index:C000007789Member 2020-01-01 2020-12-31 0000036405 index:InstitutionalProspectusMember index:S000002843Member index:C000007789Member 2021-01-01 2021-12-31 0000036405 index:InstitutionalProspectusMember index:S000002843Member index:C000007789Member 2022-01-01 2022-12-31 0000036405 index:InstitutionalProspectusMember index:S000002843Member index:C000007789Member 2023-01-01 2023-12-31 0000036405 index:InstitutionalProspectusMember index:S000002843Member index:C000007789Member 2024-01-01 2024-12-31 0000036405 index:InstitutionalProspectusMember index:S000002843Member index:C000007789Member 2025-01-01 2025-12-31 0000036405 index:InvestorProspectusMember index:S000012757Member index:C000034429Member 2018-01-01 2018-12-31 0000036405 index:InvestorProspectusMember index:S000012757Member index:C000034429Member 2019-01-01 2019-12-31 0000036405 index:InvestorProspectusMember index:S000012757Member index:C000034429Member 2020-01-01 2020-12-31 0000036405 index:InvestorProspectusMember index:S000012757Member index:C000034429Member 2021-01-01 2021-12-31 0000036405 index:InvestorProspectusMember index:S000012757Member index:C000034429Member 2022-01-01 2022-12-31 0000036405 index:InvestorProspectusMember index:S000012757Member index:C000034429Member 2023-01-01 2023-12-31 0000036405 index:InvestorProspectusMember index:S000012757Member index:C000034429Member 2024-01-01 2024-12-31 0000036405 index:InvestorProspectusMember index:S000012757Member index:C000034429Member 2025-01-01 2025-12-31 0000036405 index:AdmiralProspectusMember index:S000012757Member index:C000105307Member 2018-01-01 2018-12-31 0000036405 index:AdmiralProspectusMember index:S000012757Member index:C000105307Member 2019-01-01 2019-12-31 0000036405 index:AdmiralProspectusMember index:S000012757Member index:C000105307Member 2020-01-01 2020-12-31 0000036405 index:AdmiralProspectusMember index:S000012757Member index:C000105307Member 2021-01-01 2021-12-31 0000036405 index:AdmiralProspectusMember index:S000012757Member index:C000105307Member 2022-01-01 2022-12-31 0000036405 index:AdmiralProspectusMember index:S000012757Member index:C000105307Member 2023-01-01 2023-12-31 0000036405 index:AdmiralProspectusMember index:S000012757Member index:C000105307Member 2024-01-01 2024-12-31 0000036405 index:AdmiralProspectusMember index:S000012757Member index:C000105307Member 2025-01-01 2025-12-31 0000036405 index:ETFProspectusMember index:S000012757Member index:C000034430Member 2018-01-01 2018-12-31 0000036405 index:ETFProspectusMember index:S000012757Member index:C000034430Member 2019-01-01 2019-12-31 0000036405 index:ETFProspectusMember index:S000012757Member index:C000034430Member 2020-01-01 2020-12-31 0000036405 index:ETFProspectusMember index:S000012757Member index:C000034430Member 2021-01-01 2021-12-31 0000036405 index:ETFProspectusMember index:S000012757Member index:C000034430Member 2022-01-01 2022-12-31 0000036405 index:ETFProspectusMember index:S000012757Member index:C000034430Member 2023-01-01 2023-12-31 0000036405 index:ETFProspectusMember index:S000012757Member index:C000034430Member 2024-01-01 2024-12-31 0000036405 index:ETFProspectusMember index:S000012757Member index:C000034430Member 2025-01-01 2025-12-31 pure iso4217:USD 2025-12-31 0000036405 false 485BPOS -0.0452 0.3133 0.1825 0.2853 -0.1823 0.2611 0.2484 0.1771 -0.0443 0.3146 0.1837 0.2866 -0.1815 0.2624 0.2497 0.1783 -0.0440 0.3149 0.1840 0.2870 -0.1813 0.2628 0.2500 0.1786 -0.0442 0.3146 0.1835 0.2866 -0.1815 0.2625 0.2498 0.1784 -0.0934 0.3086 0.1810 0.2436 -0.1880 0.1584 0.1509 0.1153 -0.0923 0.3103 0.1824 0.2451 -0.1871 0.1598 0.1522 0.1167 -0.0924 0.3104 0.1826 0.2453 -0.1870 0.1600 0.1523 0.1167 -0.0921 0.3104 0.1822 0.2452 -0.1868 0.1599 0.1523 0.1168 -0.0513 0.3080 0.2095 0.2572 -0.1950 0.2603 0.2375 0.1714 -0.0514 0.3084 0.2103 0.2575 -0.1950 0.2605 0.2378 0.1716 -0.0526 0.3065 0.2087 0.2559 -0.1960 0.2589 0.2361 0.1701 -0.0517 0.3080 0.2099 0.2571 -0.1953 0.2601 0.2374 0.1712 -0.0516 0.3081 0.2100 0.2573 -0.1951 0.2602 0.2375 0.1713 -0.0539 0.2585 0.0223 0.2647 -0.0205 0.0926 0.1600 0.1527 -0.0555 0.2567 0.0218 0.2631 -0.0218 0.0911 0.1584 0.1512 -0.0543 0.2582 0.0229 0.2649 -0.0208 0.0924 0.1599 0.1526 -0.0542 0.2583 0.0230 0.2648 -0.0205 0.0926 0.1598 0.1529 -0.1234 0.2261 0.0572 0.2796 -0.0943 0.1586 0.1225 0.0894 -0.1223 0.2276 0.0585 0.2809 -0.0931 0.1599 0.1239 0.0909 -0.1223 0.2281 0.0586 0.2811 -0.0931 0.1599 0.1241 0.0910 -0.1222 0.2276 0.0582 0.2807 -0.0929 0.1600 0.1239 0.0909 -0.0332 0.3726 0.4016 0.2726 -0.3313 0.4678 0.3268 0.1944 -0.0346 0.3708 0.4001 0.2710 -0.3322 0.4660 0.3250 0.1929 -0.0334 0.3723 0.4019 0.2726 -0.3314 0.4677 0.3266 0.1943 -0.0333 0.3726 0.4020 0.2727 -0.3314 0.4678 0.3268 0.1944 -0.0574 0.3372 0.3432 0.2032 -0.2893 0.2299 0.1627 0.1055 -0.0560 0.3386 0.3448 0.2048 -0.2884 0.2314 0.1641 0.1069 -0.0560 0.3386 0.3446 0.2047 -0.2884 0.2314 0.1641 0.1069 -0.0580 0.3260 0.3512 0.0558 -0.2849 0.2128 0.1635 0.0830 -0.0568 0.3276 0.3530 0.0569 -0.2839 0.2141 0.1649 0.0844 -0.0569 0.3277 0.3531 0.0570 -0.2839 0.2144 0.1650 0.0843 -0.0568 0.3275 0.3529 0.0571 -0.2840 0.2142 0.1649 0.0843 -0.0947 0.2787 0.3204 0.1231 -0.2656 0.2522 0.1676 0.1126 -0.0936 0.2803 0.3221 0.1245 -0.2647 0.2538 0.1691 0.1142 -0.0935 0.2805 0.3223 0.1247 -0.2646 0.2541 0.1691 0.1142 -0.0937 0.2804 0.3220 0.1244 -0.2646 0.2539 0.1690 0.1141 -0.0943 0.2722 0.1896 0.1759 -0.1771 0.1805 0.1410 0.0870 -0.0931 0.2737 0.1911 0.1773 -0.1761 0.1820 0.1423 0.0883 -0.0932 0.2740 0.1912 0.1773 -0.1760 0.1822 0.1423 0.0885 -0.0930 0.2737 0.1908 0.1772 -0.1760 0.1821 0.1423 0.0883 -0.0444 0.3139 0.2099 0.2702 -0.1968 0.2729 0.2512 0.1810 -0.0459 0.3123 0.2089 0.2687 -0.1978 0.2712 0.2495 0.1796 -0.0447 0.3139 0.2103 0.2701 -0.1970 0.2728 0.2510 0.1809 -0.0446 0.3139 0.2105 0.2703 -0.1969 0.2728 0.2512 0.1810 -0.1253 0.2782 0.0243 0.2859 -0.0800 0.0962 0.1389 0.1191 -0.1242 0.2799 0.0254 0.2876 -0.0790 0.0976 0.1403 0.1205 -0.1241 0.2798 0.0250 0.2874 -0.0788 0.0977 0.1403 0.1205 N-1A VANGUARD INDEX FUNDS 2026-04-28 <span style="color:#000000;font-family:Arial;font-size:13pt;font-weight:bold;">Fund Summary</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Investment Objective</span> <span style="font-family:Arial;font-size:9.5pt;">Vanguard Total Stock Market Index Fund (the “Fund”) seeks to track the performance of a benchmark index that measures the investment return of the overall stock market.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Fees and Expenses</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">The following tables describe the fees and expenses you may pay if you buy, hold, and sell Institutional Select Shares of the Fund. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;font-weight:bold;">You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the tables and example below.</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Shareholder Fees</span> <br/><span style="color:#000000;font-family:Arial;font-size:8.5pt;">(Fees paid directly from your investment)</span> 0 0 0 0 <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Annual Fund Operating Expenses</span> <br/><span style="color:#000000;font-family:Arial;font-size:8.5pt;">(Expenses that you pay each year as a percentage of the value of your investment)</span> 0.0001 0 0.0000 0.0001 <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Example</span> <span style="font-family:Arial;font-size:9.5pt;">This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other funds. The example assumes that you invest $10,000 in the Fund for</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">the time periods indicated and then redeem all of your shares at the end of those periods. The example also assumes that your investment has a 5%</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">return each year</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">and that the Fund’s operating expenses remain the</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">same.</span> 1 3 6 13 <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Portfolio Turnover</span> <span style="font-family:Arial;font-size:9.5pt;">The Fund pays transaction costs, such as commissions, 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 higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was </span><span style="font-family:Arial;font-size:9.5pt;">3</span><span style="font-family:Arial;font-size:9.5pt;">% of the average value of its portfolio.</span> 0.03 <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Principal Investment Strategies</span> <span style="font-family:Arial;font-size:9.5pt;">The Fund employs an indexing investment approach designed to track the performance of the CRSP US Total Market Index (the “Target Index”), which represents 100% of the investable U.S. stock market,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">as determined by the index provider. The Target Index includes large-, mid-, small-, and micro-cap stocks regularly traded on the New York Stock Exchange and Nasdaq. Under normal circumstances, the Fund invests at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in the stocks that make up the Target Index. The Fund invests by sampling the Target Index, meaning that it holds a range of securities that, in the aggregate, approximates the full Target Index in terms of key risk factors and other characteristics.</span><span style="font-family:Arial;font-size:9.5pt;">The Fund may become nondiversified, as defined under the Investment Company Act of 1940, solely as a result of tracking an index.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">This could occur due to events such as an index rebalance or market movement. A nondiversified fund may invest a greater percentage of its assets in the securities of particular issuers as compared with diversified funds. In addition, the Fund could become concentrated in an industry or group of industries if the Target Index becomes concentrated due to market conditions or the performance of a single or related group of</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">issuers.</span> <span style="font-family:Arial;font-size:9.5pt;">As with any investment, an investment in the Fund could lose money over any time</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">period.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">General Market Risk.</span><span style="font-family:Arial;font-size:9.5pt;"> The markets in which the Fund invests can be affected by a variety of factors. These factors, which can be real or perceived,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">may include economic, market,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">political,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">and regulatory conditions and developments as well as local, regional, or global events such as wars, military conflicts, natural disasters, and public health issues. In addition, investor sentiment and expectations regarding these factors can also impact the markets. Different parts of the market, including different industries and sectors as well as different types of securities, may react differently to factors that affect the market. These factors can contribute to market uncertainty, </span><span style="font-family:Arial;font-size:9.5pt;margin-left:0.0pt;">market volatility, and fluctuations in the value of the </span><span style="font-family:Arial;font-size:9.5pt;">Fund’s investments, thereby resulting</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">in potential losses to the Fund over short or long</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">periods.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Investing in Equity Markets</span><span style="font-family:Arial;font-size:9.5pt;font-weight:bold;">.</span><span style="font-family:Arial;font-size:9.5pt;"> The Fund invests in the equity markets. Equity markets have historically been cyclical, having periods of time when stock values rise and fall. Market volatility can lead to significant fluctuations in stock values, resulting in potential losses to the Fund.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Market Capitalization (Market Cap).</span><span style="font-family:Arial;font-size:9.5pt;"> Companies are generally classified into three types of market cap depending on their size: small-, mid-, and large-cap. Companies can be further classified into micro- or mega-cap. Different factors can affect each market cap uniquely, and historically small- and mid-cap stocks have typically been more volatile due to the effects of changing economic conditions. Large companies may not reach the same levels of growth or performance as smaller companies, and they may be slower to react to competitive challenges. The performance of funds that invest in a subset of market caps could diverge from the performance of a fund that is focused on a broader representation of the stock market.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Index Investing</span><span style="font-family:Arial;font-size:9.5pt;font-weight:bold;">.</span><span style="font-family:Arial;font-size:9.5pt;"> The Fund is subject to risks associated with index investing. Because the Fund generally seeks to track the performance of the Target Index regardless of how the Target Index is performing, the Fund’s performance may be lower than it would be if it were actively managed. Additionally,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">because the Fund does not hold all of the securities included in the Target Index, it is subject to the risk that the representative sample of securities selected by the advisor will, in the aggregate, vary from the investment profile of the full Target Index. The performance of the Fund’s investments,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">in the aggregate,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">may not match the investment performance of the Target Index. This risk, known as tracking error risk, may be heightened during times of increased market volatility or under other unusual market conditions. The Fund also could be negatively impacted by changes to the Target Index made by the index provider or by errors made by the index provider. Any gains, losses, or costs associated with or resulting from an error made by the index provider will generally be borne by the Fund and, as a result, the Fund’s shareholders.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Nondiversification.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">By tracking its broad-based Target Index, the Fund could become nondiversified, as defined under the Investment Company Act of 1940, due to events such as an index rebalance or market movement. The performance of nondiversified funds may be negatively impacted by relatively few securities or even a single security and their shares may experience significant fluctuations in value.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Concentration Risk.</span><span style="font-family:Arial;font-size:9.5pt;"> Except as may be necessary to approximate the composition of its Target Index, the Fund will not concentrate its investments in the securities of issuers whose principal business activities are in the same industry or group of industries. If the Target Index becomes concentrated and the Fund needs to concentrate in the same industry or group of industries, its </span><span style="font-family:Arial;font-size:9.5pt;margin-left:0.0pt;">performance could be negatively impacted by the industry or industries in which it is concentrated.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Information Technology</span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Sector.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">As of the Fund’s most recent fiscal year end,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">stocks of</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">companies within the information technology sector made up a significant portion of the Target</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">Index.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">As a result,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">the performance of the Target Index,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">and therefore the performance of the Fund, may be impacted by the general condition of the information technology</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">sector.</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;font-weight:bold;">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.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Annual Total Returns</span> <span style="font-family:Arial;font-size:9.5pt;">The following bar chart and table show the Fund’s historical performance and are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund’s Institutional Select Shares has varied from one calendar year to another over the periods shown. The table shows how the average annual total returns of the Institutional Select Shares compare with those of a broad-based securities market index and one or more additional indexes with similar investment characteristics as the Fund.</span><span style="font-family:Arial;font-size:9.5pt;"> Keep in </span><span style="font-family:Arial;font-size:9.5pt;">mind that the Fund’s past performance (before and after taxes) does not indicate how the Fund will perform in the future.</span><span style="font-family:Arial;font-size:9.5pt;"> Updated performance </span><span style="font-family:Arial;font-size:9.5pt;">information is available on our website at </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;">vanguard.com/performance</span><span style="font-family:Arial;font-size:9.5pt;">.</span> <span style="font-family:Arial;font-size:9.5pt;">The following bar chart and table show the Fund’s historical performance and are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund’s Institutional Select Shares has varied from one calendar year to another over the periods shown. The table shows how the average annual total returns of the Institutional Select Shares compare with those of a broad-based securities market index and one or more additional indexes with similar investment characteristics as the Fund.</span> <span style="font-family:Arial;font-size:9.5pt;"> Keep in </span><span style="font-family:Arial;font-size:9.5pt;">mind that the Fund’s past performance (before and after taxes) does not indicate how the Fund will perform in the future.</span> <span style="font-family:Arial;font-size:9.5pt;font-style:italic;">vanguard.com/performance</span> <span style="font-family:Arial;font-size:8pt;font-weight:bold;">Annual Total Returns — Vanguard Total Stock Market Index Fund Institutional Select Shares</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">During the periods shown in the bar chart, the highest and lowest returns for a calendar quarter were:</span> <span style="color:#000000;font-family:Arial;font-size:8pt;margin-left:0.0pt;">Highest</span> 0.2210 2020-06-30 <span style="color:#000000;font-family:Arial;font-size:8pt;margin-left:0.0pt;">Lowest</span> -0.2086 2020-03-31 <span style="font-family:Arial;font-size:8.5pt;font-weight:bold;">Average Annual Total Returns for Periods Ended December 31, 2025</span> 2016-06-27 0.1716 0.1310 0.1522 0.1681 0.1271 0.1476 0.1036 0.1040 0.1269 0.1715 0.1308 0.1520 0.1705 0.1307 0.1517 <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Actual after-tax returns depend on your tax situation and may differ from those shown in the preceding table. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">When after-tax returns are calculated, it is </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">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. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">Please note that after-tax returns are not relevant for a </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">Also, figures captioned </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:italic;">Return After Taxes on Distributions and Sale of Fund Shares</span><span style="color:#000000;font-family:Arial;font-size:9.5pt;"> 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.</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">When after-tax returns are calculated, it is </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">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. </span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Please note that after-tax returns are not relevant for a </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. </span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Also, figures captioned </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:italic;">Return After Taxes on Distributions and Sale of Fund Shares</span><span style="color:#000000;font-family:Arial;font-size:9.5pt;"> 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.</span> <span style="color:#000000;font-family:Arial;font-size:13pt;font-weight:bold;">Fund Summary</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Investment Objective</span> <span style="font-family:Arial;font-size:9.5pt;">Vanguard 500 Index Fund (the “Fund”) seeks to track the performance of a benchmark index that measures the investment return of large-capitalization stocks.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Fees and Expenses</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">The following tables describe the fees and expenses you may pay if you buy, hold, and sell Investor Shares of the Fund. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;font-weight:bold;">You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the tables and example below.</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Shareholder Fees</span> <br/><span style="color:#000000;font-family:Arial;font-size:8.5pt;">(Fees paid directly from your investment)</span> 0 0 0 0 25 <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Annual Fund Operating Expenses</span> <br/><span style="color:#000000;font-family:Arial;font-size:8.5pt;">(Expenses that you pay each year as a percentage of the value of your investment)</span> 0.0014 0 0.0000 0.0014 <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Example</span> <span style="font-family:Arial;font-size:9.5pt;">This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other funds. The example assumes that you invest $10,000 in the Fund for</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">the time periods indicated and then redeem all of your shares at the end of those periods. The example also assumes that your investment has a 5%</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">return each year</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">and that the Fund’s operating expenses remain the</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">same.</span> 14 45 79 179 <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Portfolio Turnover</span> <span style="font-family:Arial;font-size:9.5pt;">The Fund pays transaction costs, such as commissions, 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 higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was </span><span style="font-family:Arial;font-size:9.5pt;">2</span><span style="font-family:Arial;font-size:9.5pt;">% of the average value of its portfolio.</span> 0.02 <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Principal Investment Strategies</span> <span style="font-family:Arial;font-size:9.5pt;">The Fund employs an indexing investment approach designed to track the performance of the S&amp;P 500 Index (the “Target Index”), a widely recognized benchmark of U.S. stock market performance that is dominated by the stocks of large U.S. companies. Under normal circumstances, the Fund invests at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in the stocks that make up the Target Index. The Fund attempts to replicate the Target Index by investing all, or substantially all, of its assets in the stocks that make up the Target Index, holding each stock in approximately the same proportion as its weighting in the Target</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">Index. </span><span style="font-family:Arial;font-size:9.5pt;">The Fund may become nondiversified, as defined under the Investment Company Act of 1940, solely as a result of tracking an index. This could occur due to events such as an index rebalance or market movement. A nondiversified fund may invest a greater percentage of its assets in the securities of particular issuers as compared with diversified funds. In addition, the Fund could become concentrated in an industry or group of industries if the Target Index becomes concentrated due to market conditions or the performance of a single or related group of issuers.</span> <span style="font-family:Arial;font-size:9.5pt;">As with any investment, an investment in the Fund could lose money over any time</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">period.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">General Market Risk.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">The markets in which</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">the Fund invests can be affected by a variety of factors. These factors, which can be real or perceived,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">may include</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">economic, market, political,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">and regulatory conditions and developments as well as local,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">regional,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">or global events such as wars, military conflicts, natural disasters, and public health issues. In addition, investor sentiment and expectations regarding these factors can also impact the markets. Different parts of the market, including different industries and sectors as well as different types of securities, may react differently to factors that affect the market. These factors can contribute to market uncertainty, market volatility, and fluctuations in the value of the Fund’s investments, thereby resulting</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">in potential losses to the Fund over short or long</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">periods.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Investing in Equity Markets</span><span style="font-family:Arial;font-size:9.5pt;font-weight:bold;">.</span><span style="font-family:Arial;font-size:9.5pt;"> The Fund invests in the equity markets. Equity markets have historically been cyclical, having periods of time when stock values rise and fall. Market volatility can lead to significant fluctuations in stock values, resulting in potential losses to the Fund.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Market Capitalization</span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">(Market Cap).</span><span style="font-family:Arial;font-size:9.5pt;"> Companies are generally classified into three types of market cap depending on their size: small-, mid-,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">and large-cap.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">Companies can be further classified</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">into micro- or mega-cap. Different factors can affect each market cap uniquely, and historically small- and mid-cap stocks have typically been more volatile due to the effects of changing economic conditions. Large companies may not reach the same levels of growth or performance as smaller companies,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">and they may be slower to react to competitive challenges. The performance of</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">funds that invest in a subset of market caps could diverge from the performance</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">of a fund that is focused on a broader representation of the stock</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">market.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Index Investing</span><span style="font-family:Arial;font-size:9.5pt;font-weight:bold;">.</span><span style="font-family:Arial;font-size:9.5pt;"> The Fund is subject to risks associated with index investing. Because the Fund generally seeks to track the performance of the Target Index regardless of how the Target Index is performing, the Fund’s performance may be lower than it would be if it were actively managed. Although the Fund seeks to hold substantially all of the securities included in the Target Index, it may be unable to do so. In addition, the Fund could be prevented from holding one or more securities in the same proportion as in the Target Index. The performance of the Fund’s investments,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">in the aggregate,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">may not match the investment performance of the Target Index. This risk, known as tracking error risk, may be heightened during times of increased market volatility or under other unusual market conditions. The Fund also could be negatively impacted by changes to the Target Index made by the index provider or by errors made by the index provider. Any gains, losses, or costs associated with or resulting from an error made by the index provider will generally be borne by the Fund and, as a result, the Fund’s shareholders.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Nondiversification.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">By tracking its broad-based Target Index, the Fund could become nondiversified, as defined under the Investment Company Act of 1940, due to events such as an index rebalance or market movement. The performance of nondiversified funds may be negatively impacted by relatively few securities or even a single security and their shares may experience significant fluctuations in value.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Concentration Risk.</span><span style="font-family:Arial;font-size:9.5pt;"> Except as may be necessary to approximate the composition of its Target Index, the Fund will not concentrate its investments in the securities of issuers whose principal business activities are in the same industry or group of industries. If the Target Index becomes concentrated and the Fund needs to concentrate in the same industry or group of industries, its performance could be negatively impacted by the industry or industries in which it is concentrated.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Information Technology Sector.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">As of the Fund’s most recent fiscal year end, stocks of companies within</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">the information technology sector made up a significant</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">portion of the Target Index. As a result, the performance of the Target Index, and therefore the</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">performance of the Fund, may</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">be impacted by the general condition of the information technology</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">sector.</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;font-weight:bold;">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.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Annual Total Returns</span> <span style="font-family:Arial;font-size:9.5pt;">The following bar chart and table show the Fund’s historical performance and are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund’s Investor Shares has varied from one calendar year to another over the periods shown. The table shows how the average annual total returns of the Investor Shares compare with those of a broad-based securities market index and one or more</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">additional indexes with similar investment characteristics as the Fund.</span><span style="font-family:Arial;font-size:9.5pt;"> Keep in mind that the </span><span style="font-family:Arial;font-size:9.5pt;">Fund’s past performance (before and after taxes) does not indicate how the Fund will perform in the future.</span><span style="font-family:Arial;font-size:9.5pt;"> Updated performance information is available on </span><span style="font-family:Arial;font-size:9.5pt;">our website at </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;">vanguard.com/performance</span><span style="font-family:Arial;font-size:9.5pt;">.</span> <span style="font-family:Arial;font-size:9.5pt;">The following bar chart and table show the Fund’s historical performance and are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund’s Investor Shares has varied from one calendar year to another over the periods shown. The table shows how the average annual total returns of the Investor Shares compare with those of a broad-based securities market index and one or more</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">additional indexes with similar investment characteristics as the Fund.</span> <span style="font-family:Arial;font-size:9.5pt;"> Keep in mind that the </span><span style="font-family:Arial;font-size:9.5pt;">Fund’s past performance (before and after taxes) does not indicate how the Fund will perform in the future.</span> <span style="font-family:Arial;font-size:9.5pt;font-style:italic;">vanguard.com/performance</span> <span style="font-family:Arial;font-size:8pt;font-weight:bold;">Annual Total Returns — Vanguard 500 Index Fund Investor Shares</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">During the periods shown in the bar chart, the highest and lowest returns for a calendar quarter were:</span> <span style="color:#000000;font-family:Arial;font-size:8pt;margin-left:0.0pt;">Highest</span> 0.2052 2020-06-30 <span style="color:#000000;font-family:Arial;font-size:8pt;margin-left:0.0pt;">Lowest</span> -0.1963 2020-03-31 <span style="font-family:Arial;font-size:8.5pt;font-weight:bold;">Average Annual Total Returns for Periods Ended December 31, 2025</span> 0.1771 0.1426 0.1466 0.1740 0.1390 0.1423 0.1067 0.1138 0.1224 0.1788 0.1442 0.1482 0.1705 0.1307 0.1421 <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Actual after-tax returns depend on your tax situation and may differ from those shown in the preceding table. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">When after-tax returns are calculated, it is </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">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. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">Please note that after-tax returns are </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">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. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">Also, figures captioned </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:italic;">Return After Taxes on Distributions and Sale of Fund Shares</span><span style="color:#000000;font-family:Arial;font-size:9.5pt;"> 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.</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">When after-tax returns are calculated, it is </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">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. </span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">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. </span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Also, figures captioned </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:italic;">Return After Taxes on Distributions and Sale of Fund Shares</span><span style="color:#000000;font-family:Arial;font-size:9.5pt;"> 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.</span> <span style="color:#000000;font-family:Arial;font-size:13pt;font-weight:bold;">Fund Summary</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Investment Objective</span> <span style="font-family:Arial;font-size:9.5pt;">Vanguard 500 Index Fund (the “Fund”) seeks to track the performance of a benchmark index that measures the investment return of large-capitalization stocks.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Fees and Expenses</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">The following tables describe the fees and expenses you may pay if you buy, hold, and sell Admiral Shares of the Fund. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;font-weight:bold;">You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the tables and example below.</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Shareholder Fees</span> <br/><span style="color:#000000;font-family:Arial;font-size:8.5pt;">(Fees paid directly from your investment)</span> 0 0 0 0 25 <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Annual Fund Operating Expenses</span> <br/><span style="color:#000000;font-family:Arial;font-size:8.5pt;">(Expenses that you pay each year as a percentage of the value of your investment)</span> 0.0004 0 0.0000 0.0004 <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Example</span> <span style="font-family:Arial;font-size:9.5pt;">This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other funds. The example assumes that you invest $10,000 in the Fund for</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">the time periods indicated and then redeem all of your shares at the end of those periods. The example also assumes that your investment has a 5%</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">return each year</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">and that the Fund’s operating expenses remain the</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">same.</span> 4 13 23 51 <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Portfolio Turnover</span> <span style="font-family:Arial;font-size:9.5pt;">The Fund pays transaction costs, such as commissions, 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 higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was </span><span style="font-family:Arial;font-size:9.5pt;">2</span><span style="font-family:Arial;font-size:9.5pt;">% of the average value of its portfolio.</span> 0.02 <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Principal Investment Strategies</span> <span style="font-family:Arial;font-size:9.5pt;">The Fund employs an indexing investment approach designed to track the performance of the S&amp;P 500 Index (the “Target Index”), a widely recognized benchmark of U.S. stock market performance that is dominated by the stocks of large U.S. companies. Under normal circumstances, the Fund invests at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in the stocks that make up the Target Index. The Fund attempts to replicate the Target Index by investing all, or substantially all, of its assets in the stocks that make up the Target Index, holding each stock in approximately the same proportion as its weighting in the Target</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">Index. </span><span style="font-family:Arial;font-size:9.5pt;">The Fund may become nondiversified, as defined under the Investment Company Act of 1940, solely as a result of tracking an index. This could occur due to events such as an index rebalance or market movement. A nondiversified fund may invest a greater percentage of its assets in the securities of particular issuers as compared with diversified funds. In addition, the Fund could become concentrated in an industry or group of industries if the Target Index becomes concentrated due to market conditions or the performance of a single or related group of issuers.</span> <span style="font-family:Arial;font-size:9.5pt;">As with any investment, an investment in the Fund could lose money over any time</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">period.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">General Market Risk.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">The markets in which</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">the Fund invests can be affected by a variety of factors. These factors, which can be real or perceived,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">may include</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">economic, market, political,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">and regulatory conditions and developments as well as local,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">regional,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">or global events such as wars, military conflicts, natural disasters, and public health issues. In addition, investor sentiment and expectations regarding these factors can also impact the markets. Different parts of the market, including different industries and sectors as well as different types of securities, may react differently to factors that affect the market. These factors can contribute to market uncertainty, market volatility, and fluctuations in the value of the Fund’s investments, thereby resulting</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">in potential losses to the Fund over short or long</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">periods.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Investing in Equity Markets</span><span style="font-family:Arial;font-size:9.5pt;font-weight:bold;">.</span><span style="font-family:Arial;font-size:9.5pt;"> The Fund invests in the equity markets. Equity markets have historically been cyclical, having periods of time when stock values rise and fall. Market volatility can lead to significant fluctuations in stock values, resulting in potential losses to the Fund.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Market Capitalization</span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">(Market Cap).</span><span style="font-family:Arial;font-size:9.5pt;"> Companies are generally classified into three types of market cap depending on their size: small-, mid-,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">and large-cap.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">Companies can be further classified</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">into micro- or mega-cap. Different factors can affect each market cap uniquely, and historically small- and mid-cap stocks have typically been more volatile due to the effects of changing economic conditions. Large companies may not reach the same levels of growth or performance as smaller companies,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">and they may be slower to react to competitive challenges. The performance of</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">funds that invest in a subset of market caps could diverge from the performance</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">of a fund that is focused on a broader representation of the stock</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">market.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Index Investing</span><span style="font-family:Arial;font-size:9.5pt;font-weight:bold;">.</span><span style="font-family:Arial;font-size:9.5pt;"> The Fund is subject to risks associated with index investing. Because the Fund generally seeks to track the performance of the Target Index regardless of how the Target Index is performing, the Fund’s performance may be lower than it would be if it were actively managed. Although the Fund seeks to hold substantially all of the securities included in the Target Index, it may be unable to do so. In addition, the Fund could be prevented from holding one or more securities in the same proportion as in the Target Index. The performance of the Fund’s investments,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">in the aggregate,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">may not match the investment performance of the Target Index. This risk, known as tracking error risk, may be heightened during times of increased market volatility or under other unusual market conditions. The Fund also could be negatively impacted by changes to the Target Index made by the index provider or by errors made by the index provider. Any gains, losses, or costs associated with or resulting from an error made by the index provider will generally be borne by the Fund and, as a result, the Fund’s shareholders.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Nondiversification.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">By tracking its broad-based Target Index, the Fund could become nondiversified, as defined under the Investment Company Act of 1940, due to events such as an index rebalance or market movement. The performance of nondiversified funds may be negatively impacted by relatively few securities or even a single security and their shares may experience significant fluctuations in value.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Concentration Risk.</span><span style="font-family:Arial;font-size:9.5pt;"> Except as may be necessary to approximate the composition of its Target Index, the Fund will not concentrate its investments in the securities of issuers whose principal business activities are in the same industry or group of industries. If the Target Index becomes concentrated and the Fund needs to concentrate in the same industry or group of industries, its performance could be negatively impacted by the industry or industries in which it is concentrated.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Information Technology Sector.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">As of the Fund’s most recent fiscal year end, stocks of companies within</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">the information technology sector made up a significant</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">portion of the Target Index. As a result, the performance of the Target Index, and therefore the</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">performance of the Fund, may</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">be impacted by the general condition of the information technology</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">sector.</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;font-weight:bold;">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.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Annual Total Returns</span> <span style="font-family:Arial;font-size:9.5pt;">The following bar chart and table show the Fund’s historical performance and are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund’s Admiral Shares has varied from one calendar year to another over the periods shown. The table shows how the average annual total returns of the Admiral Shares compare with those of a broad-based securities market index and one or more</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">additional indexes with similar investment characteristics as the Fund.</span><span style="font-family:Arial;font-size:9.5pt;"> Keep in mind that the Fund’s </span><span style="font-family:Arial;font-size:9.5pt;">past performance (before and after taxes) does not indicate how the Fund will perform in the future.</span><span style="font-family:Arial;font-size:9.5pt;"> Updated performance information is available on our </span><span style="font-family:Arial;font-size:9.5pt;">website at </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;">vanguard.com/performance</span><span style="font-family:Arial;font-size:9.5pt;">.</span> <span style="font-family:Arial;font-size:9.5pt;">The following bar chart and table show the Fund’s historical performance and are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund’s Admiral Shares has varied from one calendar year to another over the periods shown. The table shows how the average annual total returns of the Admiral Shares compare with those of a broad-based securities market index and one or more</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">additional indexes with similar investment characteristics as the Fund.</span> <span style="font-family:Arial;font-size:9.5pt;"> Keep in mind that the Fund’s </span><span style="font-family:Arial;font-size:9.5pt;">past performance (before and after taxes) does not indicate how the Fund will perform in the future.</span> <span style="font-family:Arial;font-size:9.5pt;font-style:italic;">vanguard.com/performance</span> <span style="font-family:Arial;font-size:8pt;font-weight:bold;">Annual Total Returns — Vanguard 500 Index Fund Admiral Shares</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">During the periods shown in the bar chart, the highest and lowest returns for a calendar quarter were:</span> <span style="color:#000000;font-family:Arial;font-size:8pt;margin-left:0.0pt;">Highest</span> 0.2054 2020-06-30 <span style="color:#000000;font-family:Arial;font-size:8pt;margin-left:0.0pt;">Lowest</span> -0.1961 2020-03-31 <span style="font-family:Arial;font-size:8.5pt;font-weight:bold;">Average Annual Total Returns for Periods Ended December 31, 2025</span> 0.1783 0.1438 0.1478 0.1749 0.1399 0.1432 0.1076 0.1147 0.1233 0.1788 0.1442 0.1482 0.1705 0.1307 0.1421 <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Actual after-tax returns depend on your tax situation and may differ from those shown in the preceding table. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">When after-tax returns are calculated, it is </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">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. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">Please note that after-tax returns are </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">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. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">Also, figures captioned </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:italic;">Return After Taxes on Distributions and Sale of Fund Shares</span><span style="color:#000000;font-family:Arial;font-size:9.5pt;"> 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.</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">When after-tax returns are calculated, it is </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">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. </span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">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. </span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Also, figures captioned </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:italic;">Return After Taxes on Distributions and Sale of Fund Shares</span><span style="color:#000000;font-family:Arial;font-size:9.5pt;"> 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.</span> <span style="color:#000000;font-family:Arial;font-size:13pt;font-weight:bold;">Fund Summary</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Investment Objective</span> <span style="font-family:Arial;font-size:9.5pt;">Vanguard 500 Index Fund (the “Fund”) seeks to track the performance of a benchmark index that measures the investment return of large-capitalization stocks.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Fees and Expenses</span> <span style="font-family:Arial;font-size:9.5pt;">The following tables describe the fees and expenses you may pay if you buy, hold, and sell Institutional Select Shares of the Fund. </span><span style="font-family:Arial;font-size:9.5pt;font-weight:bold;">You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the tables and example below.</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Shareholder Fees</span> <br/><span style="color:#000000;font-family:Arial;font-size:8.5pt;">(Fees paid directly from your investment)</span> 0 0 0 0 <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Annual Fund Operating Expenses</span> <br/><span style="color:#000000;font-family:Arial;font-size:8.5pt;">(Expenses that you pay each year as a percentage of the value of your investment)</span> 0.0001 0 0.0000 0.0001 <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Example</span> <span style="font-family:Arial;font-size:9.5pt;">This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other funds. The example assumes that you invest $10,000 in the Fund for</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">the time periods indicated and then redeem all of your shares at the end of those periods. The example also assumes that your investment has a 5%</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">return each year</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">and that the Fund’s operating expenses remain the</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">same.</span> 1 3 6 13 <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Portfolio Turnover</span> <span style="font-family:Arial;font-size:9.5pt;">The Fund pays transaction costs, such as commissions, 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 higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was </span><span style="font-family:Arial;font-size:9.5pt;">2</span><span style="font-family:Arial;font-size:9.5pt;">% of the average value of its portfolio.</span> 0.02 <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Principal Investment Strategies</span> <span style="font-family:Arial;font-size:9.5pt;">The Fund employs an indexing investment approach designed to track the performance of the S&amp;P</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">500 Index</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">(the</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">“Target Index”), a widely recognized benchmark of U.S. stock market performance that is dominated by the stocks of large U.S. companies. Under normal circumstances, the Fund invests at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in the stocks that make up the Target Index. The Fund attempts to replicate the Target Index by investing all, or substantially all, of its assets in the stocks that make up the Target Index, holding each stock in approximately the same proportion as its weighting in the Target Index. </span><span style="font-family:Arial;font-size:9.5pt;">The Fund may become nondiversified, as defined under the Investment Company Act of 1940, solely as a result of tracking an index. This could occur due to events such as an index rebalance or market movement. A nondiversified fund may invest a greater percentage of its assets in the securities of particular issuers as compared with diversified funds. In addition, the Fund could become concentrated in an industry or group of industries if the Target Index becomes concentrated due to market conditions or the performance of a single or related group of issuers.</span> <span style="font-family:Arial;font-size:9.5pt;">As with any investment, an investment in the Fund could lose money over any time</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">period.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">General Market Risk.</span><span style="font-family:Arial;font-size:9.5pt;"> The markets in which the Fund invests can be affected by a variety of factors. These factors, which can be real or perceived, may include economic, market, political, and regulatory conditions and developments as well as local, regional, or global events such as wars, military conflicts, natural disasters, and public health issues. In addition, investor sentiment and expectations regarding these factors can also impact the markets. Different parts of the market, including different industries and sectors as well as different types of securities, may react differently to factors that affect the market. These factors can contribute to market uncertainty, market volatility, and fluctuations in the value of the Fund’s investments, thereby resulting in potential losses to the Fund over short or long periods.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Investing in Equity Markets</span><span style="font-family:Arial;font-size:9.5pt;font-weight:bold;">.</span><span style="font-family:Arial;font-size:9.5pt;"> The Fund invests in the equity markets. Equity markets have historically been cyclical, having periods of time when stock values rise and fall. Market volatility can lead to significant fluctuations in stock values, resulting in potential losses to the Fund.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Market Capitalization (Market Cap).</span><span style="font-family:Arial;font-size:9.5pt;"> Companies are generally classified into three types of market cap depending on their size: small-, mid-, and large-cap. Companies can be further classified into micro- or mega-cap. Different factors can affect each market cap uniquely, and historically small- and mid-cap stocks have typically been more volatile due to the effects of changing economic conditions. Large companies may not reach the same levels of growth or performance as smaller companies, and they may be slower to react to competitive challenges. The performance of funds that invest in a subset of market caps could diverge from the performance of a fund that is focused on a broader representation of the stock market.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Index Investing</span><span style="font-family:Arial;font-size:9.5pt;font-weight:bold;">.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">The</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">Fund is subject to risks associated with index investing. Because the Fund generally seeks to track the performance</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">of the Target Index regardless of how the Target Index</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">is performing, the Fund’s performance may be lower than it would be</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">if it</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">were actively managed. Although the Fund seeks to hold substantially all of the securities included in the Target Index, it may be unable to do so. In addition, the Fund could be prevented from holding one or more securities in the same proportion as in the Target Index. The performance of the Fund’s investments, in the aggregate, may not match the investment performance of the Target Index. This risk, known as tracking error risk, may be heightened during times of increased market volatility or under other unusual market conditions. The Fund also could be negatively impacted by changes to the Target Index made by the index provider or by errors made by the index provider. Any gains, losses,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">or costs associated with or resulting from an error made by the index provider will generally be borne by the Fund and,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">as a result,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">the Fund’s</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">shareholders.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Nondiversification.</span><span style="font-family:Arial;font-size:9.5pt;"> By tracking its broad-based Target Index, the Fund could become nondiversified, as defined under the Investment Company Act of 1940, due to events such as an index rebalance or market movement. The performance of nondiversified funds may be negatively impacted by relatively few securities or even a single security and their shares may experience significant fluctuations in value.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Concentration Risk.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">Except</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">as may be necessary to approximate the composition</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">of its Target Index, the Fund will not concentrate its investments in the securities of issuers</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">whose principal business activities are in the same industry or group of industries.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">If the Target Index becomes concentrated and the Fund needs to concentrate in the</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">same industry or</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">group of industries, its performance could be negatively impacted by the industry or industries in which it is</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">concentrated.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Information Technology Sector.</span><span style="font-family:Arial;font-size:9.5pt;"> As of the Fund’s most recent fiscal year end, stocks of companies within the information technology sector made up a significant portion of the Target Index. As a result, the performance of the Target Index, and therefore the performance of the Fund, may be impacted by the general condition of the information technology</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">sector.</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;font-weight:bold;">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.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Annual Total Returns</span> <span style="font-family:Arial;font-size:9.5pt;">The following bar chart and table show the Fund’s historical performance and are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund’s Institutional Select Shares has varied from one calendar year to another over the periods shown. The table shows how the average annual total returns of the Institutional Select Shares compare with those of a broad-based securities market index and one or more additional indexes with similar investment characteristics as the Fund.</span><span style="font-family:Arial;font-size:9.5pt;"> Keep in </span><span style="font-family:Arial;font-size:9.5pt;">mind that the Fund’s past performance (before and after taxes) does not indicate how the Fund will perform in the future.</span><span style="font-family:Arial;font-size:9.5pt;"> Updated performance </span><span style="font-family:Arial;font-size:9.5pt;">information is available on our website at </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;">vanguard.com/performance</span><span style="font-family:Arial;font-size:9.5pt;">.</span> <span style="font-family:Arial;font-size:9.5pt;">The following bar chart and table show the Fund’s historical performance and are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund’s Institutional Select Shares has varied from one calendar year to another over the periods shown. The table shows how the average annual total returns of the Institutional Select Shares compare with those of a broad-based securities market index and one or more additional indexes with similar investment characteristics as the Fund.</span> <span style="font-family:Arial;font-size:9.5pt;"> Keep in </span><span style="font-family:Arial;font-size:9.5pt;">mind that the Fund’s past performance (before and after taxes) does not indicate how the Fund will perform in the future.</span> <span style="font-family:Arial;font-size:9.5pt;font-style:italic;">vanguard.com/performance</span> <span style="font-family:Arial;font-size:8pt;font-weight:bold;">Annual Total Returns — Vanguard 500 Index Fund Institutional Select Shares</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">During the periods shown in the bar chart, the highest and lowest returns for a calendar quarter were:</span> <span style="color:#000000;font-family:Arial;font-size:8pt;margin-left:0.0pt;">Highest</span> 0.2055 2020-06-30 <span style="color:#000000;font-family:Arial;font-size:8pt;margin-left:0.0pt;">Lowest</span> -0.1960 2020-03-31 <span style="font-family:Arial;font-size:8.5pt;font-weight:bold;">Average Annual Total Returns for Periods Ended December 31, 2025</span> 2016-06-24 0.1786 0.1441 0.1553 0.1752 0.1402 0.1506 0.1078 0.1150 0.1296 0.1788 0.1442 0.1553 0.1705 0.1307 0.1491 <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Actual after-tax returns depend on your tax situation and may differ from those shown in the preceding table. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">When after-tax returns are calculated, it is </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">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. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">Please note that after-tax returns are not relevant for a </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">Also, figures captioned </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:italic;">Return After Taxes on Distributions and Sale of Fund Shares</span><span style="color:#000000;font-family:Arial;font-size:9.5pt;"> 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.</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">When after-tax returns are calculated, it is </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">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. </span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Please note that after-tax returns are not relevant for a </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. </span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Also, figures captioned </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:italic;">Return After Taxes on Distributions and Sale of Fund Shares</span><span style="color:#000000;font-family:Arial;font-size:9.5pt;"> 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.</span> <span style="font-family:Arial;font-size:13pt;font-weight:bold;">Fund Summary</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Investment Objective</span> <span style="font-family:Arial;font-size:9.5pt;">Vanguard S&amp;P 500 ETF, an exchange-traded share class of Vanguard 500 Index Fund (the “Fund”), seeks to track the performance of a benchmark index that measures the investment return of large-capitalization stocks.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Fees and Expenses</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">The following tables describe the fees and expenses you may pay if you buy, hold, and sell ETF Shares of the Fund. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;font-weight:bold;">You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the tables and example below.</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Shareholder Fees</span> <br/><span style="color:#000000;font-family:Arial;font-size:8.5pt;">(Fees paid directly from your investment)</span> 0 0 0 <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Annual Fund Operating Expenses</span> <br/><span style="color:#000000;font-family:Arial;font-size:8.5pt;">(Expenses that you pay each year as a percentage of the value of your investment)</span> 0.0002 0 0.0001 0.0003 <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Example</span> <span style="font-family:Arial;font-size:9.5pt;">This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other funds. The example assumes that you invest $10,000 in the Fund for</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">the time periods indicated and then redeem all of your shares at the end of those periods. The example also assumes that your investment has a 5%</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">return each year</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">and that the Fund’s operating expenses remain the</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">same.</span> 3 10 17 39 <span style="color:#000000;font-family:Arial;font-size:9.5pt;">This example does not include the brokerage commissions that you may pay to buy and sell ETF Shares of the Fund.</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Portfolio Turnover</span> <span style="font-family:Arial;font-size:9.5pt;">The Fund pays transaction costs, such as commissions, 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 higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was </span><span style="font-family:Arial;font-size:9.5pt;">2</span><span style="font-family:Arial;font-size:9.5pt;">% of the average value of its portfolio.</span> 0.02 <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Principal Investment Strategies</span> <span style="font-family:Arial;font-size:9.5pt;">The Fund employs an indexing investment approach designed to track the performance of the S&amp;P 500 Index (the “Target Index”), a widely recognized benchmark of U.S. stock market performance that is dominated by the stocks of large U.S. companies. Under normal circumstances, the Fund invests at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in the stocks that make up the Target Index. The Fund attempts to replicate the Target Index by investing all, or substantially all, of its assets in the stocks that make up the Target Index, holding each stock in approximately the same proportion as its weighting in the Target</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">Index. </span><span style="font-family:Arial;font-size:9.5pt;">The Fund may become nondiversified, as defined under the Investment Company Act of 1940, solely as a result of tracking an index. This could occur due to events such as an index rebalance or market movement. A nondiversified fund may invest a greater percentage of its assets in the securities of particular issuers as compared with diversified funds. In addition, the Fund could become concentrated in an industry or group of industries if the Target Index becomes concentrated due to market conditions or the performance of a single or related group of issuers.</span> <span style="font-family:Arial;font-size:9.5pt;">As with any investment, an investment in the Fund could lose money over any time</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">period.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">General Market Risk.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">The markets in which</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">the Fund invests can be affected by a variety of factors. These factors, which can be real or perceived,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">may include</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">economic, market, political,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">and regulatory conditions and developments as well as local,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">regional,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">or global events such as wars, military conflicts, natural disasters, and public health issues. In addition, investor sentiment and expectations regarding these factors can also impact the markets. Different parts of the market, including different industries and sectors as well as different types of securities, may react differently to factors that affect the market. These factors can contribute to market uncertainty, market volatility, and fluctuations in the value of the Fund’s investments, thereby resulting</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">in potential losses to the Fund over short or long</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">periods.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Investing in Equity Markets</span><span style="font-family:Arial;font-size:9.5pt;font-weight:bold;">.</span><span style="font-family:Arial;font-size:9.5pt;"> The Fund invests in the equity markets. Equity markets have historically been cyclical, having periods of time when stock values rise and fall. Market volatility can lead to significant fluctuations in stock values, resulting in potential losses to the Fund.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Market Capitalization (Market Cap).</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">Companies are generally classified into three types of market cap depending on their size: small-, mid-, and large-cap.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">Companies can be further classified into micro- or mega-cap. Different factors can affect each market cap uniquely, and historically small- and mid-cap stocks have typically been more volatile due to the effects of changing economic conditions. Large companies may not reach the same levels of growth or performance as smaller companies,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">and they may be slower to react to competitive challenges. The performance of</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">funds that invest in a subset of market caps could diverge from the performance</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">of a fund that is focused on a broader representation of the stock</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">market.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Index Investing</span><span style="font-family:Arial;font-size:9.5pt;font-weight:bold;">.</span><span style="font-family:Arial;font-size:9.5pt;"> The Fund is subject to risks associated with index investing. Because the Fund generally seeks to track the performance of the Target Index regardless of how the Target Index is performing, the Fund’s performance may be lower than it would be if it were actively managed. Although the Fund seeks to hold substantially all of the securities included in the Target Index, it may be unable to do so. In addition, the Fund could be prevented from holding one or more securities in the same proportion as in the Target Index. The performance of the Fund’s investments,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">in the aggregate,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">may not match the investment performance of the Target Index. This risk, known as tracking error risk, may be heightened during times of increased market volatility or under other unusual market conditions. The Fund also could be negatively impacted by changes to the Target Index made by the index provider or by errors made by the index provider. Any gains, losses, or costs associated with or resulting from an error made by the index provider will generally be borne by the Fund and, as a result, the Fund’s shareholders.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Nondiversification.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">By tracking its broad-based Target Index, the Fund could become nondiversified, as defined under the Investment Company Act of 1940, due to events such as an index rebalance or market movement. The performance of nondiversified funds may be negatively impacted by relatively few securities or even a single security and their shares may experience significant fluctuations in value.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Concentration Risk.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">Except as may be necessary to approximate the composition of its Target Index, the Fund will not concentrate its investments in the securities of issuers whose principal business activities are in the same industry or group of industries. If the Target Index becomes concentrated and the Fund needs to concentrate in the same industry or group of industries, its performance could be</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">negatively impacted by the industry or industries in which it is</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">concentrated.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Information Technology Sector.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">As of the Fund’s most recent fiscal year end, stocks of companies within the information technology sector made up a significant portion of the Target Index. As a result, the performance of the Target Index, and therefore the performance of the Fund, may be impacted by the general condition of the information technology sector.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">ETF Share Trading</span><span style="font-family:Arial;font-size:9.5pt;font-weight:bold;">.</span><span style="font-family:Arial;font-size:9.5pt;"> Vanguard ETF Shares (“ETF Shares”) are an exchanged-traded class of shares issued by certain Vanguard funds that represent an interest in the portfolio of securities held by the issuing fund. The Fund’s ETF Shares are listed for trading on NYSE Arca and individual investors may only buy and sell them on the secondary market at market prices. Although it is expected that the market price of an ETF Share typically will approximate its net asset value (NAV), there may be times when the market price of an ETF Share and its NAV differ significantly. Disruptions to creation and redemption transactions, the existence of significant market volatility, or potential lack of an active trading market for ETF Shares (including through a trading halt), as well as other factors, may result in ETF Shares trading significantly above (at a premium) or below (at a discount) the Fund’s NAV or the intraday value of the Fund’s holdings. Thus, you may pay more or less than NAV when you buy ETF Shares on the secondary market, and you may receive more or less than NAV when you sell those shares.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Authorized Participants</span><span style="font-family:Arial;font-size:9.5pt;font-weight:bold;">.</span><span style="font-family:Arial;font-size:9.5pt;font-weight:bold;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">Only Authorized Participants may engage in creation or redemption transactions directly with the Fund.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">The Fund has a limited number of financial institutions that may act as Authorized Participants. The Fund’s Authorized Participants are not obligated to engage in creation or redemption transactions. To the extent that the Fund’s Authorized Participants are unable to or choose not to</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">proceed with creation and/or redemption transactions with respect to the Fund and no other Authorized Participants step forward to engage in creation or redemption transactions with the Fund, the Fund’s ETF Shares may trade at</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">a discount to NAV and possibly face trading halts and/or</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">delisting.</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;font-weight:bold;">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.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Annual Total Returns</span> <span style="font-family:Arial;font-size:9.5pt;">The following bar chart and table show the Fund’s historical performance and are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund’s ETF Shares (based on NAV) has varied from one calendar year to another over the periods shown. The table shows how the average annual total returns of the ETF Shares compare with those of a broad-based securities market index and one or more</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">additional indexes with similar investment characteristics as the Fund.</span><span style="font-family:Arial;font-size:9.5pt;"> Keep in mind that </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">the Fund’s past performance (before and after taxes) does not indicate how the Fund will perform in the future.</span><span style="color:#000000;font-family:Arial;font-size:9.5pt;"> Updated performance information is available on </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">our website at </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:italic;">vanguard.com/performance</span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">.</span> <span style="font-family:Arial;font-size:9.5pt;">The following bar chart and table show the Fund’s historical performance and are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund’s ETF Shares (based on NAV) has varied from one calendar year to another over the periods shown. The table shows how the average annual total returns of the ETF Shares compare with those of a broad-based securities market index and one or more</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">additional indexes with similar investment characteristics as the Fund.</span> <span style="font-family:Arial;font-size:9.5pt;"> Keep in mind that </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">the Fund’s past performance (before and after taxes) does not indicate how the Fund will perform in the future.</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:italic;">vanguard.com/performance</span> <span style="font-family:Arial;font-size:8pt;font-weight:bold;">Annual Total Returns — Vanguard 500 Index Fund ETF Shares</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">During the periods shown in the bar chart, the highest and lowest returns for a calendar quarter were:</span> <span style="color:#000000;font-family:Arial;font-size:8pt;margin-left:0.0pt;">Highest</span> 0.2054 2020-06-30 <span style="color:#000000;font-family:Arial;font-size:8pt;margin-left:0.0pt;">Lowest</span> -0.1963 2020-03-31 <span style="font-family:Arial;font-size:8.5pt;font-weight:bold;">Average Annual Total Returns for Periods Ended December 31, 2025</span> 0.1784 0.1438 0.1478 0.1750 0.1399 0.1432 0.1077 0.1148 0.1234 0.1782 0.1438 0.1478 0.1788 0.1442 0.1482 0.1705 0.1307 0.1421 <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Actual after-tax returns depend on your tax situation and may differ from those shown in the preceding table. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">When after-tax returns are calculated, it is </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">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. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">Please note that after-tax returns are not relevant for a </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">Also, figures captioned </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:italic;">Return </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:italic;">After Taxes on Distributions and Sale of Fund Shares</span><span style="color:#000000;font-family:Arial;font-size:9.5pt;"> 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.</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">When after-tax returns are calculated, it is </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">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. </span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Please note that after-tax returns are not relevant for a </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. </span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Also, figures captioned </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:italic;">Return </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:italic;">After Taxes on Distributions and Sale of Fund Shares</span><span style="color:#000000;font-family:Arial;font-size:9.5pt;"> 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.</span> <span style="color:#000000;font-family:Arial;font-size:13pt;font-weight:bold;">Vanguard Total Stock Market Index Fund</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Investment Objective</span> <span style="font-family:Arial;font-size:9.5pt;">Vanguard Total Stock Market Index Fund (the “Fund”) seeks to track the performance of a benchmark index that measures the investment return of the overall stock market.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Fees and Expenses</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">The following tables describe the fees and expenses you may pay if you buy, hold, and sell Investor Shares of the Fund. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;font-weight:bold;">You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the tables and example below.</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Shareholder Fees</span> <br/><span style="color:#000000;font-family:Arial;font-size:8.5pt;">(Fees paid directly from your investment)</span> 0 0 0 0 25 <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Annual Fund Operating Expenses</span> <br/><span style="color:#000000;font-family:Arial;font-size:8.5pt;">(Expenses that you pay each year as a percentage of the value of your investment)</span> 0.0005 0 0.0001 0.0006 <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Example</span> <span style="font-family:Arial;font-size:9.5pt;">This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other funds. The example assumes that you invest $10,000 in the Fund for</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">the time periods indicated and then redeem all of your shares at the end of those periods. The example also assumes that your investment has a 5%</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">return each year</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">and that the Fund’s operating expenses remain the</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">same.</span> 6 19 34 77 <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Portfolio Turnover</span> <span style="font-family:Arial;font-size:9.5pt;">The Fund pays transaction costs, such as commissions, 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 higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was </span><span style="font-family:Arial;font-size:9.5pt;">3</span><span style="font-family:Arial;font-size:9.5pt;">% of the average value of its portfolio.</span> 0.03 <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Principal Investment Strategies</span> <span style="font-family:Arial;font-size:9.5pt;">The Fund employs an indexing investment approach designed to track the performance of the CRSP US Total Market Index (the “Target Index”), which represents 100% of the investable U.S. stock market,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">as determined by the index provider. The Target Index includes large-, mid-, small-, and micro-cap stocks regularly traded on the New York Stock Exchange and Nasdaq. Under normal circumstances, the Fund invests at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in the stocks that make up the Target Index. The Fund invests by sampling the Target Index, meaning that it holds a range of securities that, in the aggregate, approximates the full Target Index in terms of key risk factors and other characteristics.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;">The Fund may become nondiversified, as defined under the Investment Company Act of 1940, solely as a result of tracking an index. This could occur due to events such as an index rebalance or market movement. A nondiversified fund may invest a greater percentage of its assets in the securities of particular issuers as compared with diversified funds. In addition, the Fund could become concentrated in an industry or group of industries if the Target Index becomes concentrated due to market conditions or the performance of a single or related group of issuers.</span> <span style="font-family:Arial;font-size:9.5pt;">As with any investment, an investment in the Fund could lose money over any time</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">period.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">General Market Risk.</span><span style="font-family:Arial;font-size:9.5pt;"> The markets in which the Fund invests can be affected by a variety of factors. These factors, which can be real or perceived,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">may include economic, market,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">political,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">and regulatory conditions and developments as well as local, regional, or global events such as wars, military conflicts, natural disasters, and public health issues. In addition, investor sentiment and expectations regarding these factors can also impact the markets. Different parts of the market, including different industries and sectors as well as different types of securities, may react differently to factors that affect the market. These factors can contribute to market uncertainty, </span><span style="font-family:Arial;font-size:9.5pt;margin-left:0.0pt;">market volatility, and fluctuations in the value of the </span><span style="font-family:Arial;font-size:9.5pt;">Fund’s investments, thereby resulting</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">in potential losses to the Fund over short or long</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">periods.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Investing in Equity Markets</span><span style="font-family:Arial;font-size:9.5pt;font-weight:bold;">.</span><span style="font-family:Arial;font-size:9.5pt;"> The Fund invests in the equity markets. Equity markets have historically been cyclical, having periods of time when stock values rise and fall. Market volatility can lead to significant fluctuations in stock values, resulting in potential losses to the Fund.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Market Capitalization (Market Cap).</span><span style="font-family:Arial;font-size:9.5pt;"> Companies are generally classified into three types of market cap depending on their size: small-, mid-, and large-cap. Companies can be further classified into micro- or mega-cap. Different factors can affect each market cap uniquely, and historically small- and mid-cap stocks have typically been more volatile due to the effects of changing economic conditions. Large companies may not reach the same levels of growth or performance as smaller companies, and they may be slower to react to competitive challenges. The performance of funds that invest in a subset of market caps could diverge from the performance of a fund that is focused on a broader representation of the stock market.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Index Investing</span><span style="font-family:Arial;font-size:9.5pt;font-weight:bold;">.</span><span style="font-family:Arial;font-size:9.5pt;"> The Fund is subject to risks associated with index investing. Because the Fund generally seeks to track the performance of the Target Index regardless of how the Target Index is performing, the Fund’s performance may be lower than it would be if it were actively managed. Additionally,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">because the Fund does not hold all of the securities included in the Target Index, it is subject to the risk that the representative sample of securities selected by the advisor will, in the aggregate, vary from the investment profile of the full Target Index. The performance of the Fund’s investments,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">in the aggregate,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">may not match the investment performance of the Target Index. This risk, known as tracking error risk, may be heightened during times of increased market volatility or under other unusual market conditions. The Fund also could be negatively impacted by changes to the Target Index made by the index provider or by errors made by the index provider. Any gains, losses, or costs associated with or resulting from an error made by the index provider will generally be borne by the Fund and, as a result, the Fund’s shareholders.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Nondiversification.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">By tracking its broad-based Target Index, the Fund could become nondiversified, as defined under the Investment Company Act of 1940, due to events such as an index rebalance or market movement. The performance of nondiversified funds may be negatively impacted by relatively few securities or even a single security and their shares may experience significant fluctuations in value.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Concentration Risk.</span><span style="font-family:Arial;font-size:9.5pt;"> Except as may be necessary to approximate the composition of its Target Index, the Fund will not concentrate its investments in the securities of issuers whose principal business activities are in the same industry or group of industries. If the Target Index becomes concentrated and the Fund needs to concentrate in the same industry or group of industries, its </span><span style="font-family:Arial;font-size:9.5pt;margin-left:0.0pt;">performance could be negatively impacted by the industry or industries in which it is concentrated.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Information Technology</span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Sector.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">As of the Fund’s most recent fiscal year end,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">stocks of</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">companies within the information technology sector made up a significant portion of the Target</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">Index.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">As a result,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">the performance of the Target Index,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">and therefore the performance of the Fund, may be impacted by the general condition of the information technology</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">sector.</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;font-weight:bold;">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.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Annual Total Returns</span> <span style="font-family:Arial;font-size:9.5pt;">The following bar chart and table show the Fund’s historical performance and are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund’s Investor Shares has varied from one calendar year to another over the periods shown. The table shows how the average annual total returns of the Investor Shares compare with those of a broad-based securities market index and one or more additional indexes with similar investment characteristics as the Fund.</span><span style="font-family:Arial;font-size:9.5pt;"> Keep in mind that the </span><span style="font-family:Arial;font-size:9.5pt;">Fund’s past performance (before and after taxes) does not indicate how the Fund will perform in the future.</span><span style="font-family:Arial;font-size:9.5pt;"> Updated performance information is available on </span><span style="font-family:Arial;font-size:9.5pt;">our website at </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;">vanguard.com/performance</span><span style="font-family:Arial;font-size:9.5pt;">.</span> <span style="font-family:Arial;font-size:9.5pt;">The following bar chart and table show the Fund’s historical performance and are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund’s Investor Shares has varied from one calendar year to another over the periods shown. The table shows how the average annual total returns of the Investor Shares compare with those of a broad-based securities market index and one or more additional indexes with similar investment characteristics as the Fund.</span> <span style="font-family:Arial;font-size:9.5pt;"> Keep in mind that the </span><span style="font-family:Arial;font-size:9.5pt;">Fund’s past performance (before and after taxes) does not indicate how the Fund will perform in the future.</span> <span style="font-family:Arial;font-size:9.5pt;font-style:italic;">vanguard.com/performance</span> <span style="font-family:Arial;font-size:8pt;font-weight:bold;">Annual Total Returns — Vanguard Total Stock Market Index Fund Investor Shares</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">During the periods shown in the bar chart, the highest and lowest returns for a calendar quarter were:</span> <span style="color:#000000;font-family:Arial;font-size:8pt;margin-left:0.0pt;">Highest</span> 0.2206 2020-06-30 <span style="color:#000000;font-family:Arial;font-size:8pt;margin-left:0.0pt;">Lowest</span> -0.2089 2020-03-31 <span style="font-family:Arial;font-size:8.5pt;font-weight:bold;">Average Annual Total Returns for Periods Ended December 31, 2025</span> 0.1701 0.1295 0.1412 0.1669 0.1259 0.1369 0.1025 0.1028 0.1175 0.1715 0.1308 0.1425 0.1705 0.1307 0.1421 <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Actual after-tax returns depend on your tax situation and may differ from those shown in the preceding table. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">When after-tax returns are calculated, it is </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">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. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">Please note that after-tax returns are not relevant for a </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">Also, figures captioned </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:italic;">Return After Taxes on Distributions and Sale of Fund Shares</span><span style="color:#000000;font-family:Arial;font-size:9.5pt;"> 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.</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">When after-tax returns are calculated, it is </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">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. </span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Please note that after-tax returns are not relevant for a </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. </span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Also, figures captioned </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:italic;">Return After Taxes on Distributions and Sale of Fund Shares</span><span style="color:#000000;font-family:Arial;font-size:9.5pt;"> 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.</span> <span style="color:#000000;font-family:Arial;font-size:13pt;font-weight:bold;">Vanguard Large-Cap Index Fund</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Investment Objective</span> <span style="font-family:Arial;font-size:9.5pt;">Vanguard Large-Cap Index Fund (the “Fund”) seeks to track the performance of a benchmark index that measures the investment return of large-capitalization stocks.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Fees and Expenses</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">The following tables describe the fees and expenses you may pay if you buy, hold, and sell Investor Shares of the Fund. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;font-weight:bold;">You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the tables and example below.</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Shareholder Fees</span> <br/><span style="color:#000000;font-family:Arial;font-size:8.5pt;">(Fees paid directly from your investment)</span> 0 0 0 0 25 <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Annual Fund Operating Expenses</span> <br/><span style="color:#000000;font-family:Arial;font-size:8.5pt;">(Expenses that you pay each year as a percentage of the value of your investment)</span> 0.0016 0 0.0001 0.0017 <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Example</span> <span style="font-family:Arial;font-size:9.5pt;">This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other funds. The example assumes that you invest $10,000 in the Fund for</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">the time periods indicated and then redeem all of your shares at the end of those periods. The example also assumes that your investment has a 5%</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">return each year</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">and that the Fund’s operating expenses remain the</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">same.</span> 17 55 96 217 <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Portfolio Turnover</span> <span style="font-family:Arial;font-size:9.5pt;">The Fund pays transaction costs, such as commissions, 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 higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was </span><span style="font-family:Arial;font-size:9.5pt;">3</span><span style="font-family:Arial;font-size:9.5pt;">% of the average value of its portfolio.</span> 0.03 <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Principal Investment Strategies</span> <span style="font-family:Arial;font-size:9.5pt;">The Fund employs an indexing investment approach designed to track the performance of the CRSP US Large Cap Index (the “Target Index”), a broadly diversified index of large U.S. companies representing approximately the top 85% of the U.S. investable market capitalization, as determined by the index provider. Under normal circumstances, the Fund invests at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in the stocks that make up the Target Index. The Fund attempts to replicate the Target Index by investing all, or substantially all, of its assets in the stocks that make up the Target Index, holding each stock in approximately the same proportion as its weighting in the Target Index.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;">The Fund may become nondiversified, as defined under the Investment Company Act of 1940, solely as a result of tracking an index. This could occur due to events such as an index rebalance or market movement. A nondiversified fund may invest a greater percentage of its assets in the securities of particular issuers as compared with diversified funds. In addition, the Fund could become concentrated in an industry or group of industries if the Target Index becomes concentrated due to market conditions or the performance of a single or related group of issuers.</span> <span style="font-family:Arial;font-size:9.5pt;">As with any investment, an investment in the Fund could lose money over any time</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">period.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">General Market Risk.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">The markets in which</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">the Fund invests can be affected by a variety of factors. These factors, which can be real or perceived,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">may include</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">economic, market, political,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">and regulatory conditions and developments as well as local,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">regional,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">or global events such as wars, military conflicts, natural disasters, and public health issues. In addition, investor sentiment and expectations regarding these factors can also impact the markets. Different parts of the market, including different industries and sectors as well as different types of securities, may react differently to factors that affect the market. These factors can contribute to market uncertainty, </span><span style="font-family:Arial;font-size:9.5pt;margin-left:0.0pt;">market volatility, and fluctuations in the value of the </span><span style="font-family:Arial;font-size:9.5pt;">Fund’s investments, thereby resulting</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">in potential losses to the Fund over short or long</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">periods.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Investing in Equity Markets</span><span style="font-family:Arial;font-size:9.5pt;font-weight:bold;">.</span><span style="font-family:Arial;font-size:9.5pt;"> The Fund invests in the equity markets. Equity markets have historically been cyclical, having periods of time when stock values rise and fall. Market volatility can lead to significant fluctuations in stock values, resulting in potential losses to the Fund.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Market Capitalization</span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">(Market Cap).</span><span style="font-family:Arial;font-size:9.5pt;"> Companies are generally classified into three types of market cap depending on their size: small-, mid-,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">and large-cap.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">Companies can be further classified</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">into micro- or mega-cap. Different factors can affect each market cap uniquely, and historically small- and mid-cap stocks have typically been more volatile due to the effects of changing economic conditions. Large companies may not reach the same levels of growth or performance as smaller companies,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">and they may be slower to react to competitive challenges. The performance of</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">funds that invest in a subset of market caps could diverge from the performance</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">of a fund that is focused on a broader representation of the stock</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">market.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Index Investing</span><span style="font-family:Arial;font-size:9.5pt;font-weight:bold;">.</span><span style="font-family:Arial;font-size:9.5pt;"> The Fund is subject to risks associated with index investing. Because the Fund generally seeks to track the performance of the Target Index regardless of how the Target Index is performing, the Fund’s performance may be lower than it would be if it were actively managed. Although the Fund seeks to hold substantially all of the securities included in the Target Index, it may be unable to do so. In addition, the Fund could be prevented from holding one or more securities in the same proportion as in the Target Index. The performance of the Fund’s investments,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">in the aggregate,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">may not match the investment performance of the Target Index. This risk, known as tracking error risk, may be heightened during times of increased market volatility or under other unusual market conditions. The Fund also could be negatively impacted by changes to the Target Index made by the index provider or by errors made by the index provider. Any gains, losses, or costs associated with or resulting from an error made by the index provider will generally be borne by the Fund and, as a result, the Fund’s shareholders.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Nondiversification.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">By tracking its broad-based Target Index, the Fund could become nondiversified, as defined under the Investment Company Act of 1940, due to events such as an index rebalance or market movement. The performance of nondiversified funds may be negatively impacted by relatively few securities or even a single security and their shares may experience significant fluctuations in value.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Concentration Risk.</span><span style="font-family:Arial;font-size:9.5pt;"> Except as may be necessary to approximate the composition of its Target Index, the Fund will not concentrate its investments in the securities of issuers whose principal business activities are in the same industry or group of industries. If the Target Index becomes concentrated and the Fund needs to concentrate in the same industry or group of industries, its </span><span style="font-family:Arial;font-size:9.5pt;margin-left:0.0pt;">performance could be negatively impacted by the industry or industries in which it is concentrated.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Information Technology</span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Sector.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">As of the Fund’s most recent fiscal year end,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">stocks of</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">companies within the information technology sector made up a significant portion of the Target</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">Index.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">As a result,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">the performance of the Target Index,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">and therefore the performance of the Fund, may be impacted by the general condition of the information technology</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">sector.</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;font-weight:bold;">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.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Annual Total Returns</span> <span style="font-family:Arial;font-size:9.5pt;">The following bar chart and table show the Fund’s historical performance and are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund’s Investor Shares has varied from one calendar year to another over the periods shown. The table shows how the average annual total returns of the Investor Shares compare with those of a broad-based securities market index and one or more additional indexes with similar investment characteristics as the Fund.</span><span style="font-family:Arial;font-size:9.5pt;"> Keep in mind that the </span><span style="font-family:Arial;font-size:9.5pt;">Fund’s past performance (before and after taxes) does not indicate how the Fund will perform in the future.</span><span style="font-family:Arial;font-size:9.5pt;"> Updated performance information is available on </span><span style="font-family:Arial;font-size:9.5pt;">our website at </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;">vanguard.com/performance</span><span style="font-family:Arial;font-size:9.5pt;">.</span> <span style="font-family:Arial;font-size:9.5pt;">The following bar chart and table show the Fund’s historical performance and are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund’s Investor Shares has varied from one calendar year to another over the periods shown. The table shows how the average annual total returns of the Investor Shares compare with those of a broad-based securities market index and one or more additional indexes with similar investment characteristics as the Fund.</span> <span style="font-family:Arial;font-size:9.5pt;"> Keep in mind that the </span><span style="font-family:Arial;font-size:9.5pt;">Fund’s past performance (before and after taxes) does not indicate how the Fund will perform in the future.</span> <span style="font-family:Arial;font-size:9.5pt;font-style:italic;">vanguard.com/performance</span> <span style="font-family:Arial;font-size:8pt;font-weight:bold;">Annual Total Returns — Vanguard Large-Cap Index Fund Investor Shares</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">During the periods shown in the bar chart, the highest and lowest returns for a calendar quarter were:</span> <span style="color:#000000;font-family:Arial;font-size:8pt;margin-left:0.0pt;">Highest</span> 0.2137 2020-06-30 <span style="color:#000000;font-family:Arial;font-size:8pt;margin-left:0.0pt;">Lowest</span> -0.1944 2020-03-31 <span style="font-family:Arial;font-size:8.5pt;font-weight:bold;">Average Annual Total Returns for Periods Ended December 31, 2025</span> 0.1796 0.1378 0.1464 0.1766 0.1343 0.1422 0.1081 0.1098 0.1223 0.1814 0.1395 0.1483 0.1705 0.1307 0.1421 <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Actual after-tax returns depend on your tax situation and may differ from those shown in the preceding table. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">When after-tax returns are calculated, it is </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">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. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">Please note that after-tax returns are not relevant for a </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">Also, figures captioned </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:italic;">Return After Taxes on Distributions and Sale of Fund Shares</span><span style="color:#000000;font-family:Arial;font-size:9.5pt;"> 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.</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">When after-tax returns are calculated, it is </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">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. </span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Please note that after-tax returns are not relevant for a </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. </span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Also, figures captioned </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:italic;">Return After Taxes on Distributions and Sale of Fund Shares</span><span style="color:#000000;font-family:Arial;font-size:9.5pt;"> 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.</span> <span style="color:#000000;font-family:Arial;font-size:13pt;font-weight:bold;">Vanguard Value Index Fund</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Investment Objective</span> <span style="font-family:Arial;font-size:9.5pt;">Vanguard Value Index Fund (the “Fund”) seeks to track the performance of a benchmark index that measures the investment return of large-capitalization value stocks.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Fees and Expenses</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">The following tables describe the fees and expenses you may pay if you buy, hold, and sell Investor Shares of the Fund. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;font-weight:bold;">You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the tables and example below.</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Shareholder Fees</span> <br/><span style="color:#000000;font-family:Arial;font-size:8.5pt;">(Fees paid directly from your investment)</span> 0 0 0 0 25 <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Annual Fund Operating Expenses</span> <br/><span style="color:#000000;font-family:Arial;font-size:8.5pt;">(Expenses that you pay each year as a percentage of the value of your investment)</span> 0.0016 0 0.0001 0.0017 <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Example</span> <span style="font-family:Arial;font-size:9.5pt;">This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other funds. The example assumes that you invest $10,000 in the Fund for</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">the time periods indicated and then redeem all of your shares at the end of those periods. The example also assumes that your investment has a 5%</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">return each year</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">and that the Fund’s operating expenses remain the</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">same.</span> 17 55 96 217 <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Portfolio Turnover</span> <span style="font-family:Arial;font-size:9.5pt;">The Fund pays transaction costs, such as commissions, 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 higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was </span><span style="font-family:Arial;font-size:9.5pt;">8</span><span style="font-family:Arial;font-size:9.5pt;">% of the average value of its portfolio.</span> 0.08 <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Principal Investment Strategies</span> <span style="font-family:Arial;font-size:9.5pt;">The Fund employs an indexing investment approach designed to track the performance of the CRSP US Large Cap Value Index (the “Target Index”), a broadly diversified index made up of the value stocks of large U.S. companies, as determined by the index provider. Under normal circumstances, the Fund invests at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in the stocks that make up the Target Index. The Fund attempts to replicate the Target Index by investing all, or substantially all, of its assets in the stocks that make up the Target Index, holding each stock in approximately the same proportion as its weighting in the Target Index.</span> <span style="font-family:Arial;font-size:9.5pt;">As with any investment, an investment in the Fund could lose money over any time</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">period.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">General Market Risk.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">The markets in which</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">the Fund invests can be affected by a variety of factors. These factors, which can be real or perceived,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">may include</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">economic, market, political,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">and regulatory conditions and developments as well as local,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">regional,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">or global events such as wars, military conflicts, natural disasters, and public health issues. In addition, investor sentiment and expectations regarding these factors can also impact the markets. Different parts of the market, including different industries and sectors as well as different types of securities, may react differently to factors that affect the market. These factors can contribute to market uncertainty, market volatility, and fluctuations in the value of the Fund’s investments, thereby resulting</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">in potential losses to</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">the Fund over short or long</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">periods.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Investing in Equity Markets</span><span style="font-family:Arial;font-size:9.5pt;font-weight:bold;">.</span><span style="font-family:Arial;font-size:9.5pt;"> The Fund invests in the equity markets. Equity markets have historically been cyclical, having periods of time when stock values rise and fall. Market volatility can lead to significant fluctuations in stock values, resulting in potential losses to the Fund.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Market Capitalization (Market Cap).</span><span style="font-family:Arial;font-size:9.5pt;"> Companies are generally classified into three types of market cap depending on their size: small-, mid-, and large-cap. Companies can be further classified into micro- or mega-cap. </span><span style="font-family:Arial;font-size:9.5pt;margin-left:0.0pt;">Different factors can affect each market cap uniquely, and historically small- and mid-cap stocks have typically been more volatile due to the effects of changing economic conditions. Large companies may not reach the same levels of growth or performance as smaller companies, and they may be slower to react to competitive challenges. The performance of funds that invest in a subset of market caps could diverge from the performance of a fund that is focused on a broader representation of the stock market.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Value Investing</span><span style="font-family:Arial;font-size:9.5pt;font-weight:bold;">.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">The</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">Fund’s approach to value investing could cause it to underperform other stock funds that use a different investment style. The Fund’s investments in value stocks are subject to the risk that the stocks’ valuations do not improve at the anticipated rate or that their returns do not move in tandem with the returns of other investment styles or the broader stock</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">market.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Index Investing</span><span style="font-family:Arial;font-size:9.5pt;font-weight:bold;">.</span><span style="font-family:Arial;font-size:9.5pt;"> The Fund is subject to risks associated with index investing. Because the Fund generally seeks to track the performance of the Target Index regardless of how the Target Index is performing, the Fund’s performance may be lower than it would be if it were actively managed. Although the Fund seeks to hold substantially all of the securities included in the Target Index, it may be unable to do so. In addition, the Fund could be prevented from holding one or more securities in the same proportion as in the Target Index. The performance of the Fund’s investments,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">in the aggregate,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">may not match the investment performance of the Target Index. This risk, known as tracking error risk, may be heightened during times of increased market volatility or under other unusual market conditions. The Fund also could be negatively impacted by changes to the Target Index made by the index provider or by errors made by the index provider. Any gains, losses, or costs associated with or resulting from an error made by the index provider will generally be borne by the Fund and, as a result, the Fund’s shareholders.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Concentration Risk.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">Except as may be necessary to approximate the composition of its Target Index, the Fund will not concentrate its investments in the securities of issuers whose principal business activities are in the same industry or group of industries.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">If the Target Index becomes concentrated and the Fund needs to concentrate in the same industry or group of industries, its performance could be negatively impacted by the industry or industries in which it is</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">concentrated.</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;font-weight:bold;">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.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Annual Total Returns</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">The following bar chart and table show the Fund’s historical performance and are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund’s Investor Shares has varied </span><span style="font-family:Arial;font-size:9.5pt;">from one calendar year to another over the periods shown. The table shows how the average annual total returns of the Investor Shares compare with those of a broad-based securities market index and one or more additional indexes with similar investment characteristics as the Fund.</span><span style="font-family:Arial;font-size:9.5pt;"> Keep in mind that the </span><span style="font-family:Arial;font-size:9.5pt;">Fund’s past performance (before and after taxes) does not indicate how the Fund will perform in the future.</span><span style="font-family:Arial;font-size:9.5pt;"> Updated performance information is available on </span><span style="font-family:Arial;font-size:9.5pt;">our website at </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;">vanguard.com/performance</span><span style="font-family:Arial;font-size:9.5pt;">.</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">The following bar chart and table show the Fund’s historical performance and are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund’s Investor Shares has varied </span><span style="font-family:Arial;font-size:9.5pt;">from one calendar year to another over the periods shown. The table shows how the average annual total returns of the Investor Shares compare with those of a broad-based securities market index and one or more additional indexes with similar investment characteristics as the Fund.</span> <span style="font-family:Arial;font-size:9.5pt;"> Keep in mind that the </span><span style="font-family:Arial;font-size:9.5pt;">Fund’s past performance (before and after taxes) does not indicate how the Fund will perform in the future.</span> <span style="font-family:Arial;font-size:9.5pt;font-style:italic;">vanguard.com/performance</span> <span style="font-family:Arial;font-size:8pt;font-weight:bold;">Annual Total Returns — Vanguard Value Index Fund Investor Shares</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">During the periods shown in the bar chart, the highest and lowest returns for a calendar quarter were:</span> <span style="color:#000000;font-family:Arial;font-size:8pt;margin-left:0.0pt;">Highest</span> 0.1462 2022-12-31 <span style="color:#000000;font-family:Arial;font-size:8pt;margin-left:0.0pt;">Lowest</span> -0.2500 2020-03-31 <span style="font-family:Arial;font-size:8.5pt;font-weight:bold;">Average Annual Total Returns for Periods Ended December 31, 2025</span> 0.1512 0.1245 0.1153 0.1457 0.1184 0.1089 0.0931 0.0984 0.0939 0.1531 0.1260 0.1168 0.1705 0.1307 0.1421 <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Actual after-tax returns depend on your tax situation and may differ from those shown in the preceding table. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">When after-tax returns are calculated, it is </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">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. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">Please note that after-tax returns are not relevant for a </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">Also, figures captioned </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:italic;">Return </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:italic;">After Taxes on Distributions and Sale of Fund Shares</span><span style="color:#000000;font-family:Arial;font-size:9.5pt;"> 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.</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">When after-tax returns are calculated, it is </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">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. </span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Please note that after-tax returns are not relevant for a </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. </span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Also, figures captioned </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:italic;">Return </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:italic;">After Taxes on Distributions and Sale of Fund Shares</span><span style="color:#000000;font-family:Arial;font-size:9.5pt;"> 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.</span> <span style="color:#000000;font-family:Arial;font-size:13pt;font-weight:bold;">Vanguard Growth Index Fund</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Investment Objective</span> <span style="font-family:Arial;font-size:9.5pt;">Vanguard Growth Index Fund (the “Fund”) seeks to track the performance of a benchmark index that measures the investment return of large-capitalization growth stocks.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Fees and Expenses</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">The following tables describe the fees and expenses you may pay if you buy, hold, and sell Investor Shares of the Fund. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;font-weight:bold;">You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the tables and example below.</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Shareholder Fees</span> <br/><span style="color:#000000;font-family:Arial;font-size:8.5pt;">(Fees paid directly from your investment)</span> 0 0 0 0 25 <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Annual Fund Operating Expenses</span> <br/><span style="color:#000000;font-family:Arial;font-size:8.5pt;">(Expenses that you pay each year as a percentage of the value of your investment)</span> 0.0016 0 0.0001 0.0017 <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Example</span> <span style="font-family:Arial;font-size:9.5pt;">This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other funds. The example assumes that you invest $10,000 in the Fund for</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">the time periods indicated and then redeem all of your shares at the end of those periods. The example also assumes that your investment has a 5%</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">return each year</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">and that the Fund’s operating expenses remain the</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">same.</span> 17 55 96 217 <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Portfolio Turnover</span> <span style="font-family:Arial;font-size:9.5pt;">The Fund pays transaction costs, such as commissions, 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 higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was </span><span style="font-family:Arial;font-size:9.5pt;">12</span><span style="font-family:Arial;font-size:9.5pt;">% of the average value of its portfolio.</span> 0.12 <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Principal Investment Strategies</span> <span style="font-family:Arial;font-size:9.5pt;">The Fund employs an indexing investment approach designed to track the performance of the CRSP US Large Cap Growth Index (the “Target Index”), a broadly diversified index made up of the growth stocks of large U.S. companies, as determined by the index provider. Under normal circumstances, the Fund invests at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in the stocks that make up the Target Index. The Fund attempts to replicate the Target Index by investing all, or substantially all, of its assets in the stocks that make up the Target Index, holding each stock in approximately the same proportion as its weighting in the Target Index.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;">The Fund may become nondiversified, as defined under the Investment Company Act of 1940, solely as a result of tracking an index. This could occur due to events such as an index rebalance or market movement. A nondiversified fund may invest a greater percentage of its assets in the securities of particular issuers as compared with diversified funds. In addition, the Fund could become concentrated in an industry or group of industries if the Target Index becomes concentrated due to market conditions or the performance of a single or related group of issuers.</span> <span style="font-family:Arial;font-size:9.5pt;">As with any investment, an investment in the Fund could lose money over any time</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">period.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">General Market Risk.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">The markets in which</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">the Fund invests can be affected by a variety of factors. These factors, which can be real or perceived,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">may include</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">economic, market, political,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">and regulatory conditions and developments as well as local,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">regional,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">or global events such as wars, military conflicts, natural disasters, and public health issues. In addition, investor sentiment and expectations regarding these factors can also impact the markets. Different parts of the market, including different industries and sectors as well as different types of securities, may react differently to factors that affect the market. These factors can contribute to market uncertainty, </span><span style="font-family:Arial;font-size:9.5pt;margin-left:0.0pt;">market volatility, and fluctuations in the value of the </span><span style="font-family:Arial;font-size:9.5pt;">Fund’s investments, thereby resulting</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">in potential losses to the Fund over short or long</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">periods.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Investing in Equity Markets</span><span style="font-family:Arial;font-size:9.5pt;font-weight:bold;">.</span><span style="font-family:Arial;font-size:9.5pt;"> The Fund invests in the equity markets. Equity markets have historically been cyclical, having periods of time when stock values rise and fall. Market volatility can lead to significant fluctuations in stock values, resulting in potential losses to the Fund.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Market Capitalization (Market Cap).</span><span style="font-family:Arial;font-size:9.5pt;"> Companies are generally classified into three types of market cap depending on their size: small-, mid-, and large-cap. Companies can be further classified into micro- or mega-cap. Different factors can affect each market cap uniquely, and historically small- and mid-cap stocks have typically been more volatile due to the effects of changing economic conditions. Large companies may not reach the same levels of growth or performance as smaller companies, and they may be slower to react to competitive challenges. The performance of funds that invest in a subset of market caps could diverge from the performance of a fund that is focused on a broader representation of the stock market.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Growth Investing</span><span style="font-family:Arial;font-size:9.5pt;font-weight:bold;">.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">The</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">Fund’s approach to growth investing could cause it to underperform other stock funds that use a different investment style. Growth stocks typically produce lower yields because growth companies prefer to reinvest earnings into research and development to promote growth and increase profitability.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">Research and development can be expensive and</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">may not always produce favorable results, which could harm</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">a company’s performance relative to the broader</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">market.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Index Investing</span><span style="font-family:Arial;font-size:9.5pt;font-weight:bold;">.</span><span style="font-family:Arial;font-size:9.5pt;"> The Fund is subject to risks associated with index investing. Because the Fund generally seeks to track the performance of the Target Index regardless of how the Target Index is performing, the Fund’s performance may be lower than it would be if it were actively managed. Although the Fund seeks to hold substantially all of the securities included in the Target Index, it may be unable to do so. In addition, the Fund could be prevented from holding one or more securities in the same proportion as in the Target Index. The performance of the Fund’s investments,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">in the aggregate,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">may not match the investment performance of the Target Index. This risk, known as tracking error risk, may be heightened during times of increased market volatility or under other unusual market conditions. The Fund also could be negatively impacted by changes to the Target Index made by the index provider or by errors made by the index provider. Any gains, losses, or costs associated with or resulting from an error made by the index provider will generally be borne by the Fund and, as a result, the Fund’s shareholders.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Nondiversification.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">By tracking its broad-based Target Index, the Fund could become nondiversified, as defined under the Investment Company Act of 1940, due to events such as an index rebalance or market movement. The performance of nondiversified</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">funds may be negatively impacted by relatively </span><span style="font-family:Arial;font-size:9.5pt;margin-left:0.0pt;">few securities</span><span style="font-family:Arial;font-size:9.5pt;"> or even a single security and their shares may experience significant fluctuations in</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">value.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Concentration Risk.</span><span style="font-family:Arial;font-size:9.5pt;"> Except as may be necessary to approximate the composition of its Target Index, the Fund will not concentrate its investments in the securities of issuers whose principal business activities are in the same industry or group of industries. If the Target Index becomes concentrated and the Fund needs to concentrate in the same industry or group of industries, its performance could be negatively impacted by the industry or industries in which it is concentrated.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Information Technology</span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Sector.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">As of the Fund’s most recent fiscal year end,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">stocks of</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">companies within the information technology sector made up a significant portion of the Target</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">Index.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">As a result,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">the performance of the Target Index,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">and therefore the performance of the Fund, may be impacted by the general condition of the information technology</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">sector.</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;font-weight:bold;">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.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Annual Total Returns</span> <span style="font-family:Arial;font-size:9.5pt;">The following bar chart and table show the Fund’s historical performance and are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund’s Investor Shares has varied from one calendar year to another over the periods shown. The table shows how the average annual total returns of the Investor Shares compare with those of a broad-based securities market index and one or more additional indexes with similar investment characteristics as the Fund.</span><span style="font-family:Arial;font-size:9.5pt;"> Keep in mind that the </span><span style="font-family:Arial;font-size:9.5pt;">Fund’s past performance (before and after taxes) does not indicate how the Fund will perform in the future.</span><span style="font-family:Arial;font-size:9.5pt;"> Updated performance information is available on </span><span style="font-family:Arial;font-size:9.5pt;">our website at </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;">vanguard.com/performance</span><span style="font-family:Arial;font-size:9.5pt;">.</span> <span style="font-family:Arial;font-size:9.5pt;">The following bar chart and table show the Fund’s historical performance and are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund’s Investor Shares has varied from one calendar year to another over the periods shown. The table shows how the average annual total returns of the Investor Shares compare with those of a broad-based securities market index and one or more additional indexes with similar investment characteristics as the Fund.</span> <span style="font-family:Arial;font-size:9.5pt;"> Keep in mind that the </span><span style="font-family:Arial;font-size:9.5pt;">Fund’s past performance (before and after taxes) does not indicate how the Fund will perform in the future.</span> <span style="font-family:Arial;font-size:9.5pt;font-style:italic;">vanguard.com/performance</span> <span style="font-family:Arial;font-size:8pt;font-weight:bold;">Annual Total Returns — Vanguard Growth Index Fund Investor Shares</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">During the periods shown in the bar chart, the highest and lowest returns for a calendar quarter were:</span> <span style="color:#000000;font-family:Arial;font-size:8pt;margin-left:0.0pt;">Highest</span> 0.2901 2020-06-30 <span style="color:#000000;font-family:Arial;font-size:8pt;margin-left:0.0pt;">Lowest</span> -0.2244 2022-06-30 <span style="font-family:Arial;font-size:8.5pt;font-weight:bold;">Average Annual Total Returns for Periods Ended December 31, 2025</span> 0.1929 0.1448 0.1730 0.1920 0.1437 0.1709 0.1147 0.1163 0.1473 0.1948 0.1467 0.1749 0.1705 0.1307 0.1421 <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Actual after-tax returns depend on your tax situation and may differ from those shown in the preceding table. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">When after-tax returns are calculated, it is </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">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. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">Please note that after-tax returns are not relevant for a </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">Also, figures captioned </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:italic;">Return After Taxes on Distributions and Sale of Fund Shares</span><span style="color:#000000;font-family:Arial;font-size:9.5pt;"> 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.</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">When after-tax returns are calculated, it is </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">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. </span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Please note that after-tax returns are not relevant for a </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. </span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Also, figures captioned </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:italic;">Return After Taxes on Distributions and Sale of Fund Shares</span><span style="color:#000000;font-family:Arial;font-size:9.5pt;"> 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.</span> <span style="color:#000000;font-family:Arial;font-size:13pt;font-weight:bold;">Vanguard Total Stock Market Index Fund</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Investment Objective</span> <span style="font-family:Arial;font-size:9.5pt;">Vanguard Total Stock Market Index Fund (the “Fund”) seeks to track the performance of a benchmark index that measures the investment return of the overall stock market.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Fees and Expenses</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">The following tables describe the fees and expenses you may pay if you buy, hold, and sell Admiral Shares of the Fund. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;font-weight:bold;">You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the tables and example below.</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Shareholder Fees</span> <br/><span style="color:#000000;font-family:Arial;font-size:8.5pt;">(Fees paid directly from your investment)</span> 0 0 0 0 25 <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Annual Fund Operating Expenses</span> <br/><span style="color:#000000;font-family:Arial;font-size:8.5pt;">(Expenses that you pay each year as a percentage of the value of your investment)</span> 0.0004 0 0.0000 0.0004 <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Example</span> <span style="font-family:Arial;font-size:9.5pt;">This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other funds. The example assumes that you invest $10,000 in the Fund for</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">the time periods indicated and then redeem all of your shares at the end of those periods. The example also assumes that your investment has a 5%</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">return each year</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">and that the Fund’s operating expenses remain the</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">same.</span> 4 13 23 51 <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Portfolio Turnover</span> <span style="font-family:Arial;font-size:9.5pt;">The Fund pays transaction costs, such as commissions, 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 higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was </span><span style="font-family:Arial;font-size:9.5pt;">3</span><span style="font-family:Arial;font-size:9.5pt;">% of the average value of its portfolio.</span> 0.03 <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Principal Investment Strategies</span> <span style="font-family:Arial;font-size:9.5pt;">The Fund employs an indexing investment approach designed to track the performance of the CRSP US Total Market Index (the “Target Index”), which represents 100% of the investable U.S. stock market,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">as determined by the index provider. The Target Index includes large-, mid-, small-, and micro-cap stocks regularly traded on the New York Stock Exchange and Nasdaq. Under normal circumstances, the Fund invests at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in the stocks that make up the Target Index. The Fund invests by sampling the Target Index, meaning that it holds a range of securities that, in the aggregate, approximates the full Target Index in terms of key risk factors and other characteristics.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;">The Fund may become nondiversified, as defined under the Investment Company Act of 1940, solely as a result of tracking an index. This could occur due to events such as an index rebalance or market movement. A nondiversified fund may invest a greater percentage of its assets in the securities of particular issuers as compared with diversified funds. In addition, the Fund could become concentrated in an industry or group of industries if the Target Index becomes concentrated due to market conditions or the performance of a single or related group of issuers.</span> <span style="font-family:Arial;font-size:9.5pt;">As with any investment, an investment in the Fund could lose money over any time</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">period.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">General Market Risk.</span><span style="font-family:Arial;font-size:9.5pt;"> The markets in which the Fund invests can be affected by a variety of factors. These factors, which can be real or perceived,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">may include economic, market,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">political,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">and regulatory conditions and developments as well as local, regional, or global events such as wars, military conflicts, natural disasters, and public health issues. In addition, investor sentiment and expectations regarding these factors can also impact the markets. Different parts of the market, including different industries and sectors as well as different types of securities, may react differently to factors that affect the market. These factors can contribute to market uncertainty, </span><span style="font-family:Arial;font-size:9.5pt;margin-left:0.0pt;">market volatility, and fluctuations in the value of the </span><span style="font-family:Arial;font-size:9.5pt;">Fund’s investments, thereby resulting</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">in potential losses to the Fund over short or long</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">periods.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Investing in Equity Markets</span><span style="font-family:Arial;font-size:9.5pt;font-weight:bold;">.</span><span style="font-family:Arial;font-size:9.5pt;"> The Fund invests in the equity markets. Equity markets have historically been cyclical, having periods of time when stock values rise and fall. Market volatility can lead to significant fluctuations in stock values, resulting in potential losses to the Fund.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Market Capitalization (Market Cap).</span><span style="font-family:Arial;font-size:9.5pt;"> Companies are generally classified into three types of market cap depending on their size: small-, mid-, and large-cap. Companies can be further classified into micro- or mega-cap. Different factors can affect each market cap uniquely, and historically small- and mid-cap stocks have typically been more volatile due to the effects of changing economic conditions. Large companies may not reach the same levels of growth or performance as smaller companies, and they may be slower to react to competitive challenges. The performance of funds that invest in a subset of market caps could diverge from the performance of a fund that is focused on a broader representation of the stock market.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Index Investing</span><span style="font-family:Arial;font-size:9.5pt;font-weight:bold;">.</span><span style="font-family:Arial;font-size:9.5pt;"> The Fund is subject to risks associated with index investing. Because the Fund generally seeks to track the performance of the Target Index regardless of how the Target Index is performing, the Fund’s performance may be lower than it would be if it were actively managed. Additionally,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">because the Fund does not hold all of the securities included in the Target Index, it is subject to the risk that the representative sample of securities selected by the advisor will, in the aggregate, vary from the investment profile of the full Target Index. The performance of the Fund’s investments,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">in the aggregate,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">may not match the investment performance of the Target Index. This risk, known as tracking error risk, may be heightened during times of increased market volatility or under other unusual market conditions. The Fund also could be negatively impacted by changes to the Target Index made by the index provider or by errors made by the index provider. Any gains, losses, or costs associated with or resulting from an error made by the index provider will generally be borne by the Fund and, as a result, the Fund’s shareholders.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Nondiversification.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">By tracking its broad-based Target Index, the Fund could become nondiversified, as defined under the Investment Company Act of 1940, due to events such as an index rebalance or market movement. The performance of nondiversified funds may be negatively impacted by relatively few securities or even a single security and their shares may experience significant fluctuations in value.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Concentration Risk.</span><span style="font-family:Arial;font-size:9.5pt;"> Except as may be necessary to approximate the composition of its Target Index, the Fund will not concentrate its investments in the securities of issuers whose principal business activities are in the same industry or group of industries. If the Target Index becomes concentrated and the Fund needs to concentrate in the same industry or group of industries, its </span><span style="font-family:Arial;font-size:9.5pt;margin-left:0.0pt;">performance could be negatively impacted by the industry or industries in which it is concentrated.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Information Technology</span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Sector.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">As of the Fund’s most recent fiscal year end,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">stocks of</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">companies within the information technology sector made up a significant portion of the Target</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">Index.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">As a result,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">the performance of the Target Index,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">and therefore the performance of the Fund, may be impacted by the general condition of the information technology</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">sector.</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;font-weight:bold;">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.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Annual Total Returns</span> <span style="font-family:Arial;font-size:9.5pt;">The following bar chart and table show the Fund’s historical performance and are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund’s Admiral Shares has varied from one calendar year to another over the periods shown. The table shows how the average annual total returns of the Admiral Shares compare with those of a broad-based securities market index and one or more additional indexes</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">with similar investment characteristics as the Fund.</span><span style="font-family:Arial;font-size:9.5pt;"> Keep in mind that the Fund’s </span><span style="font-family:Arial;font-size:9.5pt;">past performance (before and after taxes) does not indicate how the Fund will perform in the future.</span><span style="font-family:Arial;font-size:9.5pt;"> Updated performance information is available on our </span><span style="font-family:Arial;font-size:9.5pt;">website at </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;">vanguard.com/performance</span><span style="font-family:Arial;font-size:9.5pt;">.</span> <span style="font-family:Arial;font-size:9.5pt;">The following bar chart and table show the Fund’s historical performance and are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund’s Admiral Shares has varied from one calendar year to another over the periods shown. The table shows how the average annual total returns of the Admiral Shares compare with those of a broad-based securities market index and one or more additional indexes</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">with similar investment characteristics as the Fund.</span> <span style="font-family:Arial;font-size:9.5pt;"> Keep in mind that the Fund’s </span><span style="font-family:Arial;font-size:9.5pt;">past performance (before and after taxes) does not indicate how the Fund will perform in the future.</span> <span style="font-family:Arial;font-size:9.5pt;font-style:italic;">vanguard.com/performance</span> <span style="font-family:Arial;font-size:8pt;font-weight:bold;">Annual Total Returns — Vanguard Total Stock Market Index Fund Admiral Shares</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">During the periods shown in the bar chart, the highest and lowest returns for a calendar quarter were:</span> <span style="color:#000000;font-family:Arial;font-size:8pt;margin-left:0.0pt;">Highest</span> 0.2208 2020-06-30 <span style="color:#000000;font-family:Arial;font-size:8pt;margin-left:0.0pt;">Lowest</span> -0.2087 2020-03-31 <span style="font-family:Arial;font-size:8.5pt;font-weight:bold;">Average Annual Total Returns for Periods Ended December 31, 2025</span> 0.1712 0.1306 0.1424 0.1678 0.1268 0.1378 0.1033 0.1037 0.1184 0.1715 0.1308 0.1425 0.1705 0.1307 0.1421 <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Actual after-tax returns depend on your tax situation and may differ from those shown in the preceding table. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">When after-tax returns are calculated, it is </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">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. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">Please note that after-tax returns are not relevant for a </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">Also, figures captioned </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:italic;">Return After Taxes on Distributions and Sale of Fund Shares</span><span style="color:#000000;font-family:Arial;font-size:9.5pt;"> 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.</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">When after-tax returns are calculated, it is </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">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. </span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Please note that after-tax returns are not relevant for a </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. </span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Also, figures captioned </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:italic;">Return After Taxes on Distributions and Sale of Fund Shares</span><span style="color:#000000;font-family:Arial;font-size:9.5pt;"> 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.</span> <span style="color:#000000;font-family:Arial;font-size:13pt;font-weight:bold;">Vanguard Large-Cap Index Fund</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Investment Objective</span> <span style="font-family:Arial;font-size:9.5pt;">Vanguard Large-Cap Index Fund (the “Fund”) seeks to track the performance of a benchmark index that measures the investment return of large-capitalization stocks.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Fees and Expenses</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">The following tables describe the fees and expenses you may pay if you buy, hold, and sell Admiral Shares of the Fund. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;font-weight:bold;">You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the tables and example below.</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Shareholder Fees</span> <br/><span style="color:#000000;font-family:Arial;font-size:8.5pt;">(Fees paid directly from your investment)</span> 0 0 0 0 25 <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Annual Fund Operating Expenses</span> <br/><span style="color:#000000;font-family:Arial;font-size:8.5pt;">(Expenses that you pay each year as a percentage of the value of your investment)</span> 0.0005 0 0.0000 0.0005 <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Example</span> <span style="font-family:Arial;font-size:9.5pt;">This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other funds. The example assumes that you invest $10,000 in the Fund for</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">the time periods indicated and then redeem all of your shares at the end of those periods. The example also assumes that your investment has a 5%</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">return each year</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">and that the Fund’s operating expenses remain the</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">same.</span> 5 16 28 64 <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Portfolio Turnover</span> <span style="font-family:Arial;font-size:9.5pt;">The Fund pays transaction costs, such as commissions, 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 higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was </span><span style="font-family:Arial;font-size:9.5pt;">3</span><span style="font-family:Arial;font-size:9.5pt;">% of the average value of its portfolio.</span> 0.03 <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Principal Investment Strategies</span> <span style="font-family:Arial;font-size:9.5pt;">The Fund employs an indexing investment approach designed to track the performance of the CRSP US Large Cap Index (the “Target Index”), a broadly diversified index of large U.S. companies representing approximately the top 85% of the U.S. investable market capitalization, as determined by the index provider. Under normal circumstances, the Fund invests at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in the stocks that make up the Target Index. The Fund attempts to replicate the Target Index by investing all, or substantially all, of its assets in the stocks that make up the Target Index, holding each stock in approximately the same proportion as its weighting in the Target Index.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;">The Fund may become nondiversified, as defined under the Investment Company Act of 1940, solely as a result of tracking an index. This could occur due to events such as an index rebalance or market movement. A nondiversified fund may invest a greater percentage of its assets in the securities of particular issuers as compared with diversified funds. In addition, the Fund could become concentrated in an industry or group of industries if the Target Index becomes concentrated due to market conditions or the performance of a single or related group of issuers.</span> <span style="font-family:Arial;font-size:9.5pt;">As with any investment, an investment in the Fund could lose money over any time</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">period.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">General Market Risk.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">The markets in which</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">the Fund invests can be affected by a variety of factors. These factors, which can be real or perceived,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">may include</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">economic, market, political,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">and regulatory conditions and developments as well as local,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">regional,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">or global events such as wars, military conflicts, natural disasters, and public health issues. In addition, investor sentiment and expectations regarding these factors can also impact the markets. Different parts of the market, including different industries and sectors as well as different types of securities, may react differently to factors that affect the market. These factors can contribute to market uncertainty, </span><span style="font-family:Arial;font-size:9.5pt;margin-left:0.0pt;">market volatility, and fluctuations in the value of the </span><span style="font-family:Arial;font-size:9.5pt;">Fund’s investments, thereby resulting</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">in potential losses to the Fund over short or long</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">periods.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Investing in Equity Markets</span><span style="font-family:Arial;font-size:9.5pt;font-weight:bold;">.</span><span style="font-family:Arial;font-size:9.5pt;"> The Fund invests in the equity markets. Equity markets have historically been cyclical, having periods of time when stock values rise and fall. Market volatility can lead to significant fluctuations in stock values, resulting in potential losses to the Fund.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Market Capitalization</span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">(Market Cap).</span><span style="font-family:Arial;font-size:9.5pt;"> Companies are generally classified into three types of market cap depending on their size: small-, mid-,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">and large-cap.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">Companies can be further classified</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">into micro- or mega-cap. Different factors can affect each market cap uniquely, and historically small- and mid-cap stocks have typically been more volatile due to the effects of changing economic conditions. Large companies may not reach the same levels of growth or performance as smaller companies,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">and they may be slower to react to competitive challenges. The performance of</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">funds that invest in a subset of market caps could diverge from the performance</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">of a fund that is focused on a broader representation of the stock</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">market.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Index Investing</span><span style="font-family:Arial;font-size:9.5pt;font-weight:bold;">.</span><span style="font-family:Arial;font-size:9.5pt;"> The Fund is subject to risks associated with index investing. Because the Fund generally seeks to track the performance of the Target Index regardless of how the Target Index is performing, the Fund’s performance may be lower than it would be if it were actively managed. Although the Fund seeks to hold substantially all of the securities included in the Target Index, it may be unable to do so. In addition, the Fund could be prevented from holding one or more securities in the same proportion as in the Target Index. The performance of the Fund’s investments,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">in the aggregate,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">may not match the investment performance of the Target Index. This risk, known as tracking error risk, may be heightened during times of increased market volatility or under other unusual market conditions. The Fund also could be negatively impacted by changes to the Target Index made by the index provider or by errors made by the index provider. Any gains, losses, or costs associated with or resulting from an error made by the index provider will generally be borne by the Fund and, as a result, the Fund’s shareholders.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Nondiversification.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">By tracking its broad-based Target Index, the Fund could become nondiversified, as defined under the Investment Company Act of 1940, due to events such as an index rebalance or market movement. The performance of nondiversified funds may be negatively impacted by relatively few securities or even a single security and their shares may experience significant fluctuations in value.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Concentration Risk.</span><span style="font-family:Arial;font-size:9.5pt;"> Except as may be necessary to approximate the composition of its Target Index, the Fund will not concentrate its investments in the securities of issuers whose principal business activities are in the same industry or group of industries. If the Target Index becomes concentrated and the Fund needs to concentrate in the same industry or group of industries, its </span><span style="font-family:Arial;font-size:9.5pt;margin-left:0.0pt;">performance could be negatively impacted by the industry or industries in which it is concentrated.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Information Technology</span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Sector.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">As of the Fund’s most recent fiscal year end,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">stocks of</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">companies within the information technology sector made up a significant portion of the Target</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">Index.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">As a result,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">the performance of the Target Index,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">and therefore the performance of the Fund, may be impacted by the general condition of the information technology</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">sector.</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;font-weight:bold;">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.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Annual Total Returns</span> <span style="font-family:Arial;font-size:9.5pt;">The following bar chart and table show the Fund’s historical performance and are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund’s Admiral Shares has varied from one calendar year to another over the periods shown. The table shows how the average annual total returns of the Admiral Shares compare with those of a broad-based securities market index and one or more additional indexes</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">with similar investment characteristics as the Fund.</span><span style="font-family:Arial;font-size:9.5pt;"> Keep in mind that the Fund’s </span><span style="font-family:Arial;font-size:9.5pt;">past performance (before and after taxes) does not indicate how the Fund will perform in the future.</span><span style="font-family:Arial;font-size:9.5pt;"> Updated performance information is available on our </span><span style="font-family:Arial;font-size:9.5pt;">website at </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;">vanguard.com/performance</span><span style="font-family:Arial;font-size:9.5pt;">.</span> <span style="font-family:Arial;font-size:9.5pt;">The following bar chart and table show the Fund’s historical performance and are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund’s Admiral Shares has varied from one calendar year to another over the periods shown. The table shows how the average annual total returns of the Admiral Shares compare with those of a broad-based securities market index and one or more additional indexes</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">with similar investment characteristics as the Fund.</span> <span style="font-family:Arial;font-size:9.5pt;"> Keep in mind that the Fund’s </span><span style="font-family:Arial;font-size:9.5pt;">past performance (before and after taxes) does not indicate how the Fund will perform in the future.</span> <span style="font-family:Arial;font-size:9.5pt;font-style:italic;">vanguard.com/performance</span> <span style="font-family:Arial;font-size:8pt;font-weight:bold;">Annual Total Returns — Vanguard Large-Cap Index Fund Admiral Shares</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">During the periods shown in the bar chart, the highest and lowest returns for a calendar quarter were:</span> <span style="color:#000000;font-family:Arial;font-size:8pt;margin-left:0.0pt;">Highest</span> 0.2141 2020-06-30 <span style="color:#000000;font-family:Arial;font-size:8pt;margin-left:0.0pt;">Lowest</span> -0.1943 2020-03-31 <span style="font-family:Arial;font-size:8.5pt;font-weight:bold;">Average Annual Total Returns for Periods Ended December 31, 2025</span> 0.1809 0.1391 0.1478 0.1776 0.1353 0.1433 0.1090 0.1108 0.1234 0.1814 0.1395 0.1483 0.1705 0.1307 0.1421 <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Actual after-tax returns depend on your tax situation and may differ from those shown in the preceding table. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">When after-tax returns are calculated, it is </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">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. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">Please note that after-tax returns are not relevant for a </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">Also, figures captioned </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:italic;">Return After Taxes on Distributions and Sale of Fund Shares</span><span style="color:#000000;font-family:Arial;font-size:9.5pt;"> 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.</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">When after-tax returns are calculated, it is </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">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. </span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Please note that after-tax returns are not relevant for a </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. </span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Also, figures captioned </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:italic;">Return After Taxes on Distributions and Sale of Fund Shares</span><span style="color:#000000;font-family:Arial;font-size:9.5pt;"> 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.</span> <span style="color:#000000;font-family:Arial;font-size:13pt;font-weight:bold;">Vanguard Value Index Fund</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Investment Objective</span> <span style="font-family:Arial;font-size:9.5pt;">Vanguard Value Index Fund (the “Fund”) seeks to track the performance of a benchmark index that measures the investment return of large-capitalization value stocks.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Fees and Expenses</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">The following tables describe the fees and expenses you may pay if you buy, hold, and sell Admiral Shares of the Fund. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;font-weight:bold;">You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the tables and example below.</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Shareholder Fees</span> <br/><span style="color:#000000;font-family:Arial;font-size:8.5pt;">(Fees paid directly from your investment)</span> 0 0 0 0 25 <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Annual Fund Operating Expenses</span> <br/><span style="color:#000000;font-family:Arial;font-size:8.5pt;">(Expenses that you pay each year as a percentage of the value of your investment)</span> 0.0004 0 0.0001 0.0005 <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Example</span> <span style="font-family:Arial;font-size:9.5pt;">This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other funds. The example assumes that you invest $10,000 in the Fund for</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">the time periods indicated and then redeem all of your shares at the end of those periods. The example also assumes that your investment has a 5%</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">return each year</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">and that the Fund’s operating expenses remain the</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">same.</span> 5 16 28 64 <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Portfolio Turnover</span> <span style="font-family:Arial;font-size:9.5pt;">The Fund pays transaction costs, such as commissions, 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 higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was </span><span style="font-family:Arial;font-size:9.5pt;">8</span><span style="font-family:Arial;font-size:9.5pt;">% of the average value of its portfolio.</span> 0.08 <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Principal Investment Strategies</span> <span style="font-family:Arial;font-size:9.5pt;">The Fund employs an indexing investment approach designed to track the performance of the CRSP US Large Cap Value Index (the “Target Index”), a broadly diversified index made up of the value stocks of large U.S. companies, as determined by the index provider. Under normal circumstances, the Fund invests at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in the stocks that make up the Target Index. The Fund attempts to replicate the Target Index by investing all, or substantially all, of its assets in the stocks that make up the Target Index, holding each stock in approximately the same proportion as its weighting in the Target Index.</span> <span style="font-family:Arial;font-size:9.5pt;">As with any investment, an investment in the Fund could lose money over any time</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">period.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">General Market Risk.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">The markets in which</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">the Fund invests can be affected by a variety of factors. These factors, which can be real or perceived,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">may include</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">economic, market, political,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">and regulatory conditions and developments as well as local,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">regional,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">or global events such as wars, military conflicts, natural disasters, and public health issues. In addition, investor sentiment and expectations regarding these factors can also impact the markets. Different parts of the market, including different industries and sectors as well as different types of securities, may react differently to factors that affect the market. These factors can contribute to market uncertainty, market volatility, and fluctuations in the value of the Fund’s investments, thereby resulting</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">in potential losses to</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">the Fund over short or long</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">periods.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Investing in Equity Markets</span><span style="font-family:Arial;font-size:9.5pt;font-weight:bold;">.</span><span style="font-family:Arial;font-size:9.5pt;"> The Fund invests in the equity markets. Equity markets have historically been cyclical, having periods of time when stock values rise and fall. Market volatility can lead to significant fluctuations in stock values, resulting in potential losses to the Fund.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Market Capitalization (Market Cap).</span><span style="font-family:Arial;font-size:9.5pt;"> Companies are generally classified into three types of market cap depending on their size: small-, mid-, and large-cap. Companies can be further classified into micro- or mega-cap. </span><span style="font-family:Arial;font-size:9.5pt;margin-left:0.0pt;">Different factors can affect each market cap uniquely, and historically small- and mid-cap stocks have typically been more volatile due to the effects of changing economic conditions. Large companies may not reach the same levels of growth or performance as smaller companies, and they may be slower to react to competitive challenges. The performance of funds that invest in a subset of market caps could diverge from the performance of a fund that is focused on a broader representation of the stock market.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Value Investing</span><span style="font-family:Arial;font-size:9.5pt;font-weight:bold;">.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">The</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">Fund’s approach to value investing could cause it to underperform other stock funds that use a different investment style. The Fund’s investments in value stocks are subject to the risk that the stocks’ valuations do not improve at the anticipated rate or that their returns do not move in tandem with the returns of other investment styles or the broader stock</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">market.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Index Investing</span><span style="font-family:Arial;font-size:9.5pt;font-weight:bold;">.</span><span style="font-family:Arial;font-size:9.5pt;"> The Fund is subject to risks associated with index investing. Because the Fund generally seeks to track the performance of the Target Index regardless of how the Target Index is performing, the Fund’s performance may be lower than it would be if it were actively managed. Although the Fund seeks to hold substantially all of the securities included in the Target Index, it may be unable to do so. In addition, the Fund could be prevented from holding one or more securities in the same proportion as in the Target Index. The performance of the Fund’s investments,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">in the aggregate,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">may not match the investment performance of the Target Index. This risk, known as tracking error risk, may be heightened during times of increased market volatility or under other unusual market conditions. The Fund also could be negatively impacted by changes to the Target Index made by the index provider or by errors made by the index provider. Any gains, losses, or costs associated with or resulting from an error made by the index provider will generally be borne by the Fund and, as a result, the Fund’s shareholders.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Concentration Risk.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">Except as may be necessary to approximate the composition of its Target Index, the Fund will not concentrate its investments in the securities of issuers whose principal business activities are in the same industry or group of industries.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">If the Target Index becomes concentrated and the Fund needs to concentrate in the same industry or group of industries, its performance could be negatively impacted by the industry or industries in which it is</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">concentrated.</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;font-weight:bold;">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.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Annual Total Returns</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">The following bar chart and table show the Fund’s historical performance and are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund’s Admiral Shares has varied from </span><span style="font-family:Arial;font-size:9.5pt;">one calendar year to another over the periods shown. The table shows how the average annual total returns of the Admiral Shares compare with those of a broad-based securities market index and one or more additional indexes</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">with similar investment characteristics as the Fund.</span><span style="font-family:Arial;font-size:9.5pt;"> Keep in mind that the Fund’s </span><span style="font-family:Arial;font-size:9.5pt;">past performance (before and after taxes) does not indicate how the Fund will perform in the future.</span><span style="font-family:Arial;font-size:9.5pt;"> Updated performance information is available on our </span><span style="font-family:Arial;font-size:9.5pt;">website at </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;">vanguard.com/performance</span><span style="font-family:Arial;font-size:9.5pt;">.</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">The following bar chart and table show the Fund’s historical performance and are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund’s Admiral Shares has varied from </span><span style="font-family:Arial;font-size:9.5pt;">one calendar year to another over the periods shown. The table shows how the average annual total returns of the Admiral Shares compare with those of a broad-based securities market index and one or more additional indexes</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">with similar investment characteristics as the Fund.</span> <span style="font-family:Arial;font-size:9.5pt;"> Keep in mind that the Fund’s </span><span style="font-family:Arial;font-size:9.5pt;">past performance (before and after taxes) does not indicate how the Fund will perform in the future.</span> <span style="font-family:Arial;font-size:9.5pt;font-style:italic;">vanguard.com/performance</span> <span style="font-family:Arial;font-size:8pt;font-weight:bold;">Annual Total Returns — Vanguard Value Index Fund Admiral Shares</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">During the periods shown in the bar chart, the highest and lowest returns for a calendar quarter were:</span> <span style="color:#000000;font-family:Arial;font-size:8pt;margin-left:0.0pt;">Highest</span> 0.1466 2022-12-31 <span style="color:#000000;font-family:Arial;font-size:8pt;margin-left:0.0pt;">Lowest</span> -0.2497 2020-03-31 <span style="font-family:Arial;font-size:8.5pt;font-weight:bold;">Average Annual Total Returns for Periods Ended December 31, 2025</span> 0.1526 0.1259 0.1166 0.1468 0.1195 0.1099 0.0941 0.0994 0.0950 0.1531 0.1260 0.1168 0.1705 0.1307 0.1421 <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Actual after-tax returns depend on your tax situation and may differ from those shown in the preceding table. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">When after-tax returns are calculated, it is </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">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. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">Please note that after-tax returns are not relevant for a </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">Also, figures captioned </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:italic;">Return </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:italic;">After Taxes on Distributions and Sale of Fund Shares</span><span style="color:#000000;font-family:Arial;font-size:9.5pt;"> 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.</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">When after-tax returns are calculated, it is </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">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. </span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Please note that after-tax returns are not relevant for a </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. </span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Also, figures captioned </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:italic;">Return </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:italic;">After Taxes on Distributions and Sale of Fund Shares</span><span style="color:#000000;font-family:Arial;font-size:9.5pt;"> 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.</span> <span style="color:#000000;font-family:Arial;font-size:13pt;font-weight:bold;">Vanguard Growth Index Fund</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Investment Objective</span> <span style="font-family:Arial;font-size:9.5pt;">Vanguard Growth Index Fund (the “Fund”) seeks to track the performance of a benchmark index that measures the investment return of large-capitalization growth stocks.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Fees and Expenses</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">The following tables describe the fees and expenses you may pay if you buy, hold, and sell Admiral Shares of the Fund. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;font-weight:bold;">You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the tables and example below.</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Shareholder Fees</span> <br/><span style="color:#000000;font-family:Arial;font-size:8.5pt;">(Fees paid directly from your investment)</span> 0 0 0 0 25 <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Annual Fund Operating Expenses</span> <br/><span style="color:#000000;font-family:Arial;font-size:8.5pt;">(Expenses that you pay each year as a percentage of the value of your investment)</span> 0.0004 0 0.0001 0.0005 <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Example</span> <span style="font-family:Arial;font-size:9.5pt;">This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other funds. The example assumes that you invest $10,000 in the Fund for</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">the time periods indicated and then redeem all of your shares at the end of those periods. The example also assumes that your investment has a 5%</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">return each year</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">and that the Fund’s operating expenses remain the</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">same.</span> 5 16 28 64 <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Portfolio Turnover</span> <span style="font-family:Arial;font-size:9.5pt;">The Fund pays transaction costs, such as commissions, 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 higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was </span><span style="font-family:Arial;font-size:9.5pt;">12</span><span style="font-family:Arial;font-size:9.5pt;">% of the average value of its portfolio.</span> 0.12 <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Principal Investment Strategies</span> <span style="font-family:Arial;font-size:9.5pt;">The Fund employs an indexing investment approach designed to track the performance of the CRSP US Large Cap Growth Index (the “Target Index”), a broadly diversified index made up of the growth stocks of large U.S. companies, as determined by the index provider. Under normal circumstances, the Fund invests at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in the stocks that make up the Target Index. The Fund attempts to replicate the Target Index by investing all, or substantially all, of its assets in the stocks that make up the Target Index, holding each stock in approximately the same proportion as its weighting in the Target Index.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;">The Fund may become nondiversified, as defined under the Investment Company Act of 1940, solely as a result of tracking an index. This could occur due to events such as an index rebalance or market movement. A nondiversified fund may invest a greater percentage of its assets in the securities of particular issuers as compared with diversified funds. In addition, the Fund could become concentrated in an industry or group of industries if the Target Index becomes concentrated due to market conditions or the performance of a single or related group of issuers.</span> <span style="font-family:Arial;font-size:9.5pt;">As with any investment, an investment in the Fund could lose money over any time</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">period.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">General Market Risk.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">The markets in which</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">the Fund invests can be affected by a variety of factors. These factors, which can be real or perceived,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">may include</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">economic, market, political,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">and regulatory conditions and developments as well as local,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">regional,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">or global events such as wars, military conflicts, natural disasters, and public health issues. In addition, investor sentiment and expectations regarding these factors can also impact the markets. Different parts of the market, including different industries and sectors as well as different types of securities, may react differently to factors that affect the market. These factors can contribute to market uncertainty, </span><span style="font-family:Arial;font-size:9.5pt;margin-left:0.0pt;">market volatility, and fluctuations in the value of the </span><span style="font-family:Arial;font-size:9.5pt;">Fund’s investments, thereby resulting</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">in potential losses to the Fund over short or long</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">periods.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Investing in Equity Markets</span><span style="font-family:Arial;font-size:9.5pt;font-weight:bold;">.</span><span style="font-family:Arial;font-size:9.5pt;"> The Fund invests in the equity markets. Equity markets have historically been cyclical, having periods of time when stock values rise and fall. Market volatility can lead to significant fluctuations in stock values, resulting in potential losses to the Fund.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Market Capitalization (Market Cap).</span><span style="font-family:Arial;font-size:9.5pt;"> Companies are generally classified into three types of market cap depending on their size: small-, mid-, and large-cap. Companies can be further classified into micro- or mega-cap. Different factors can affect each market cap uniquely, and historically small- and mid-cap stocks have typically been more volatile due to the effects of changing economic conditions. Large companies may not reach the same levels of growth or performance as smaller companies, and they may be slower to react to competitive challenges. The performance of funds that invest in a subset of market caps could diverge from the performance of a fund that is focused on a broader representation of the stock market.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Growth Investing</span><span style="font-family:Arial;font-size:9.5pt;font-weight:bold;">.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">The</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">Fund’s approach to growth investing could cause it to underperform other stock funds that use a different investment style. Growth stocks typically produce lower yields because growth companies prefer to reinvest earnings into research and development to promote growth and increase profitability.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">Research and development can be expensive and</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">may not always produce favorable results, which could harm</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">a company’s performance relative to the broader</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">market.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Index Investing</span><span style="font-family:Arial;font-size:9.5pt;font-weight:bold;">.</span><span style="font-family:Arial;font-size:9.5pt;"> The Fund is subject to risks associated with index investing. Because the Fund generally seeks to track the performance of the Target Index regardless of how the Target Index is performing, the Fund’s performance may be lower than it would be if it were actively managed. Although the Fund seeks to hold substantially all of the securities included in the Target Index, it may be unable to do so. In addition, the Fund could be prevented from holding one or more securities in the same proportion as in the Target Index. The performance of the Fund’s investments,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">in the aggregate,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">may not match the investment performance of the Target Index. This risk, known as tracking error risk, may be heightened during times of increased market volatility or under other unusual market conditions. The Fund also could be negatively impacted by changes to the Target Index made by the index provider or by errors made by the index provider. Any gains, losses, or costs associated with or resulting from an error made by the index provider will generally be borne by the Fund and, as a result, the Fund’s shareholders.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Nondiversification.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">By tracking its broad-based Target Index, the Fund could become nondiversified, as defined under the Investment Company Act of 1940, due to events such as an index rebalance or market movement. The performance of nondiversified</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">funds may be negatively impacted by relatively </span><span style="font-family:Arial;font-size:9.5pt;margin-left:0.0pt;">few securities</span><span style="font-family:Arial;font-size:9.5pt;"> or even a single security and their shares may experience significant fluctuations in</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">value.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Concentration Risk.</span><span style="font-family:Arial;font-size:9.5pt;"> Except as may be necessary to approximate the composition of its Target Index, the Fund will not concentrate its investments in the securities of issuers whose principal business activities are in the same industry or group of industries. If the Target Index becomes concentrated and the Fund needs to concentrate in the same industry or group of industries, its performance could be negatively impacted by the industry or industries in which it is concentrated.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Information Technology</span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Sector.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">As of the Fund’s most recent fiscal year end,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">stocks of</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">companies within the information technology sector made up a significant portion of the Target</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">Index.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">As a result,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">the performance of the Target Index,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">and therefore the performance of the Fund, may be impacted by the general condition of the information technology</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">sector.</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;font-weight:bold;">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.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Annual Total Returns</span> <span style="font-family:Arial;font-size:9.5pt;">The following bar chart and table show the Fund’s historical performance and are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund’s Admiral Shares has varied from one calendar year to another over the periods shown. The table shows how the average annual total returns of the Admiral Shares compare with those of a broad-based securities market index and one or more additional indexes</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">with similar investment characteristics as the Fund.</span><span style="font-family:Arial;font-size:9.5pt;"> Keep in mind that the Fund’s </span><span style="font-family:Arial;font-size:9.5pt;">past performance (before and after taxes) does not indicate how the Fund will perform in the future.</span><span style="font-family:Arial;font-size:9.5pt;"> Updated performance information is available on our </span><span style="font-family:Arial;font-size:9.5pt;">website at </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;">vanguard.com/performance</span><span style="font-family:Arial;font-size:9.5pt;">.</span> <span style="font-family:Arial;font-size:9.5pt;">The following bar chart and table show the Fund’s historical performance and are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund’s Admiral Shares has varied from one calendar year to another over the periods shown. The table shows how the average annual total returns of the Admiral Shares compare with those of a broad-based securities market index and one or more additional indexes</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">with similar investment characteristics as the Fund.</span> <span style="font-family:Arial;font-size:9.5pt;"> Keep in mind that the Fund’s </span><span style="font-family:Arial;font-size:9.5pt;">past performance (before and after taxes) does not indicate how the Fund will perform in the future.</span> <span style="font-family:Arial;font-size:9.5pt;font-style:italic;">vanguard.com/performance</span> <span style="font-family:Arial;font-size:8pt;font-weight:bold;">Annual Total Returns — Vanguard Growth Index Fund Admiral Shares</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">During the periods shown in the bar chart, the highest and lowest returns for a calendar quarter were:</span> <span style="color:#000000;font-family:Arial;font-size:8pt;margin-left:0.0pt;">Highest</span> 0.2904 2020-06-30 <span style="color:#000000;font-family:Arial;font-size:8pt;margin-left:0.0pt;">Lowest</span> -0.2242 2022-06-30 <span style="font-family:Arial;font-size:8.5pt;font-weight:bold;">Average Annual Total Returns for Periods Ended December 31, 2025</span> 0.1943 0.1462 0.1744 0.1930 0.1447 0.1719 0.1158 0.1174 0.1484 0.1948 0.1467 0.1749 0.1705 0.1307 0.1421 <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Actual after-tax returns depend on your tax situation and may differ from those shown in the preceding table. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">When after-tax returns are calculated, it is </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">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. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">Please note that after-tax returns are not relevant for a </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">Also, figures captioned </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:italic;">Return After Taxes on Distributions and Sale of Fund Shares</span><span style="color:#000000;font-family:Arial;font-size:9.5pt;"> 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.</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">When after-tax returns are calculated, it is </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">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. </span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Please note that after-tax returns are not relevant for a </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. </span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Also, figures captioned </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:italic;">Return After Taxes on Distributions and Sale of Fund Shares</span><span style="color:#000000;font-family:Arial;font-size:9.5pt;"> 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.</span> <span style="color:#000000;font-family:Arial;font-size:13pt;font-weight:bold;">Vanguard Total Stock Market Index Fund</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Investment Objective</span> <span style="font-family:Arial;font-size:9.5pt;">Vanguard Total Stock Market Index Fund (the “Fund”) seeks to track the performance of a benchmark index that measures the investment return of the overall stock market.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Fees and Expenses</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">The following tables describe the fees and expenses you may pay if you buy, hold, and sell Institutional Shares or Institutional Plus Shares of the Fund. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;font-weight:bold;">You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the tables and examples below.</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Shareholder Fees</span> <br/><span style="color:#000000;font-family:Arial;font-size:8.5pt;">(Fees paid directly from your investment)</span> 0 0 0 0 0 0 0 0 <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Annual Fund Operating Expenses</span> <br/><span style="color:#000000;font-family:Arial;font-size:8.5pt;">(Expenses that you pay each year as a percentage of the value of your investment)</span> 0.0003 0.0002 0 0 0.0000 0.0000 0.0003 0.0002 <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Examples</span> <span style="font-family:Arial;font-size:9.5pt;">These examples are intended to help you compare the cost of investing in the Fund with the cost of investing in other funds. The examples assume that you invest $10,000 in the Fund for</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">the time periods indicated and then redeem all of your shares at the end of those periods. The examples also assume that your investment has a 5%</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">return each year</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">and that the Fund’s operating expenses remain the</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">same.</span> 3 10 17 39 2 6 11 26 <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Portfolio Turnover</span> <span style="font-family:Arial;font-size:9.5pt;">The Fund pays transaction costs, such as commissions, 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 higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the examples, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was </span><span style="font-family:Arial;font-size:9.5pt;">3</span><span style="font-family:Arial;font-size:9.5pt;">% of the average value of its portfolio.</span> 0.03 <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Principal Investment Strategies</span> <span style="font-family:Arial;font-size:9.5pt;">The Fund employs an indexing investment approach designed to track the performance of the CRSP US Total Market Index (the “Target Index”), which represents 100% of the investable U.S. stock market,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">as determined by the index provider. The Target Index includes large-, mid-, small-, and micro-cap stocks regularly traded on the New York Stock Exchange and Nasdaq. Under normal circumstances, the Fund invests at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in the stocks that make up the Target Index. The Fund invests by sampling the Target Index, meaning that it holds a range of securities that, in the aggregate, approximates the full Target Index in terms of key risk factors and other characteristics.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;">The Fund may become nondiversified, as defined under the Investment Company Act of 1940, solely as a result of tracking an index. This could occur due to events such as an index rebalance or market movement. A nondiversified fund may invest a greater percentage of its assets in the securities of particular issuers as compared with diversified funds. In addition, the Fund could become concentrated in an industry or group of industries if the Target Index becomes concentrated due to market conditions or the performance of a single or related group of issuers. </span> <span style="font-family:Arial;font-size:9.5pt;">As with any investment, an investment in the Fund could lose money over any time</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">period.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">General Market Risk.</span><span style="font-family:Arial;font-size:9.5pt;"> The markets in which the Fund invests can be affected by a variety of factors. These factors, which can be real or perceived,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">may include economic, market,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">political,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">and regulatory conditions and developments as well as local, regional, or global events such as wars, military conflicts, natural disasters, and public health issues. In addition, investor sentiment and expectations regarding these factors can also impact the markets. Different parts of the market, including different industries and sectors as well as different types of securities, may react differently to factors that affect the market. These factors can contribute to market uncertainty, market volatility, and fluctuations in the value of the Fund’s investments, thereby resulting</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">in potential losses to the Fund over short or long</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">periods.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Investing in Equity Markets</span><span style="font-family:Arial;font-size:9.5pt;font-weight:bold;">.</span><span style="font-family:Arial;font-size:9.5pt;"> The Fund invests in the equity markets. Equity markets have historically been cyclical, having periods of time when stock values rise and fall. Market volatility can lead to significant fluctuations in stock values, resulting in potential losses to the Fund.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Market Capitalization (Market Cap).</span><span style="font-family:Arial;font-size:9.5pt;"> Companies are generally classified into three types of market cap depending on their size: small-, mid-, and large-cap. Companies can be further classified into micro- or mega-cap. Different factors can affect each market cap uniquely, and historically small- and mid-cap stocks have typically been more volatile due to the effects of changing economic conditions. Large companies may not reach the same levels of growth or performance as smaller companies, and they may be slower to react to competitive challenges. The performance of funds that invest in a subset of market caps could diverge from the performance of a fund that is focused on a broader representation of the stock market.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Index Investing</span><span style="font-family:Arial;font-size:9.5pt;font-weight:bold;">.</span><span style="font-family:Arial;font-size:9.5pt;"> The Fund is subject to risks associated with index investing. Because the Fund generally seeks to track the performance of the Target Index regardless of how the Target Index is performing, the Fund’s performance may be lower than it would be if it were actively managed. Additionally,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">because the Fund does not hold all of the securities included in the Target Index, it is subject to the risk that the representative sample of securities selected by the advisor will, in the aggregate, vary from the investment profile of the full Target Index. The performance of the Fund’s investments,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">in the aggregate,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">may not match the investment performance of the Target Index. This risk, known as tracking error risk, may be heightened during times of increased market volatility or under other unusual market conditions. The Fund also could be negatively impacted by changes to the Target Index made by the index provider or by errors made by the index provider. Any gains, losses, or costs associated with or resulting from an error </span><span style="font-family:Arial;font-size:9.5pt;margin-left:0.0pt;">made by the index provider will generally be borne by the Fund and, as a result, the Fund’s shareholders.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Nondiversification.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">By tracking its broad-based Target Index, the Fund could become nondiversified, as defined under the Investment Company Act of 1940, due to events such as an index rebalance or market movement. The performance of nondiversified funds may be negatively impacted by relatively few securities or even a single security and their shares may experience significant fluctuations in value.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Concentration Risk.</span><span style="font-family:Arial;font-size:9.5pt;"> Except as may be necessary to approximate the composition of its Target Index, the Fund will not concentrate its investments in the securities of issuers whose principal business activities are in the same industry or group of industries. If the Target Index becomes concentrated and the Fund needs to concentrate in the same industry or group of industries, its performance could be negatively impacted by the industry or industries in which it is concentrated.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Information Technology</span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Sector.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">As of the Fund’s most recent fiscal year end,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">stocks of</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">companies within the information technology sector made up a significant portion of the Target</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">Index.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">As a result,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">the performance of the Target Index,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">and therefore the performance of the Fund, may be impacted by the general condition of the information technology</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">sector.</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;font-weight:bold;">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.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Annual Total Returns</span> <span style="font-family:Arial;font-size:9.5pt;">The following bar chart and table show the Fund’s historical performance and are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund’s Institutional Shares has varied from one calendar year to another over the periods shown. The table shows how the average annual total returns of the share classes presented compare with those of a broad-based securities market index and one or more additional indexes</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">with similar investment characteristics as the Fund.</span><span style="font-family:Arial;font-size:9.5pt;"> Keep in mind that </span><span style="font-family:Arial;font-size:9.5pt;">the Fund’s past performance (before and after taxes) does not indicate how the Fund will perform in the future.</span><span style="font-family:Arial;font-size:9.5pt;"> Updated performance information is available on </span><span style="font-family:Arial;font-size:9.5pt;">our website at </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;">vanguard.com/performance</span><span style="font-family:Arial;font-size:9.5pt;">.</span> <span style="font-family:Arial;font-size:9.5pt;">The following bar chart and table show the Fund’s historical performance and are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund’s Institutional Shares has varied from one calendar year to another over the periods shown. The table shows how the average annual total returns of the share classes presented compare with those of a broad-based securities market index and one or more additional indexes</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">with similar investment characteristics as the Fund.</span> <span style="font-family:Arial;font-size:9.5pt;"> Keep in mind that </span><span style="font-family:Arial;font-size:9.5pt;">the Fund’s past performance (before and after taxes) does not indicate how the Fund will perform in the future.</span> <span style="font-family:Arial;font-size:9.5pt;font-style:italic;">vanguard.com/performance</span> <span style="font-family:Arial;font-size:8pt;font-weight:bold;">Annual Total Returns — Vanguard Total Stock Market Index Fund Institutional Shares</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">During the periods shown in the bar chart, the highest and lowest returns for a calendar quarter were:</span> <span style="color:#000000;font-family:Arial;font-size:8pt;margin-left:0.0pt;">Highest</span> 0.2210 2020-06-30 <span style="color:#000000;font-family:Arial;font-size:8pt;margin-left:0.0pt;">Lowest</span> -0.2086 2020-03-31 <span style="font-family:Arial;font-size:8.5pt;font-weight:bold;">Average Annual Total Returns for Periods Ended December 31, 2025</span> 0.1713 0.1307 0.1425 0.1679 0.1269 0.1379 0.1034 0.1038 0.1185 0.1715 0.1309 0.1426 0.1715 0.1308 0.1425 0.1705 0.1307 0.1421 <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Actual after-tax returns depend on your tax situation and may differ from those shown in the preceding table. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">When after-tax returns are calculated, it is </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">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. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">Please note that after-tax returns are shown only for the </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">Institutional Shares and may differ for each share class. After-tax returns are </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">not </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">Also, figures </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">captioned </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:italic;">Return After Taxes on Distributions and Sale of Fund Shares</span><span style="color:#000000;font-family:Arial;font-size:9.5pt;"> 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.</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">When after-tax returns are calculated, it is </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">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. </span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">not </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. </span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Also, figures </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">captioned </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:italic;">Return After Taxes on Distributions and Sale of Fund Shares</span><span style="color:#000000;font-family:Arial;font-size:9.5pt;"> 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.</span> <span style="color:#000000;font-family:Arial;font-size:13pt;font-weight:bold;">Vanguard Large-Cap Index Fund</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Investment Objective</span> <span style="font-family:Arial;font-size:9.5pt;">Vanguard Large-Cap Index Fund (the “Fund”) seeks to track the performance of a benchmark index that measures the investment return of large-capitalization stocks.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Fees and Expenses</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">The following tables describe the fees and expenses you may pay if you buy, hold, and sell Institutional Shares of the Fund. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;font-weight:bold;">You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the tables and example below.</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Shareholder Fees</span> <br/><span style="color:#000000;font-family:Arial;font-size:8.5pt;">(Fees paid directly from your investment)</span> 0 0 0 0 <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Annual Fund Operating Expenses</span> <br/><span style="color:#000000;font-family:Arial;font-size:8.5pt;">(Expenses that you pay each year as a percentage of the value of your investment)</span> 0.0003 0 0.0000 0.0003 <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Example</span> <span style="font-family:Arial;font-size:9.5pt;">This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other funds. The example assumes that you invest $10,000 in the Fund for</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">the time periods indicated and then redeem all of your shares at the end of those periods. The example also assumes that your investment has a 5%</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">return each year</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">and that the Fund’s operating expenses remain the</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">same.</span> 3 10 17 39 <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Portfolio Turnover</span> <span style="font-family:Arial;font-size:9.5pt;">The Fund pays transaction costs, such as commissions, 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 higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was </span><span style="font-family:Arial;font-size:9.5pt;">3</span><span style="font-family:Arial;font-size:9.5pt;">% of the average value of its portfolio.</span> 0.03 <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Principal Investment Strategies</span> <span style="font-family:Arial;font-size:9.5pt;">The Fund employs an indexing investment approach designed to track the performance of the CRSP US Large Cap Index (the “Target Index”), a broadly diversified index of large U.S. companies representing approximately the top 85% of the U.S. investable market capitalization, as determined by the index provider. Under normal circumstances, the Fund invests at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in the stocks that make up the Target Index. The Fund attempts to replicate the Target Index by investing all, or substantially all, of its assets in the stocks that make up the Target Index, holding each stock in approximately the same proportion as its weighting in the Target Index.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;">The Fund may become nondiversified, as defined under the Investment Company Act of 1940, solely as a result of tracking an index. This could occur due to events such as an index rebalance or market movement. A nondiversified fund may invest a greater percentage of its assets in the securities of particular issuers as compared with diversified funds. In addition, the Fund could become concentrated in an industry or group of industries if the Target Index becomes concentrated due to market conditions or the performance of a single or related group of issuers.</span> <span style="font-family:Arial;font-size:9.5pt;">As with any investment, an investment in the Fund could lose money over any time</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">period.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">General Market Risk.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">The markets in which</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">the Fund invests can be affected by a variety of factors. These factors, which can be real or perceived,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">may include</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">economic, market, political,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">and regulatory conditions and developments as well as local,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">regional,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">or global events such as wars, military conflicts, natural disasters, and public health issues. In addition, investor sentiment and expectations regarding these factors can also impact the markets. Different parts of the market, including different industries and sectors as well as different types of securities, may react differently to factors that affect the market. These factors can contribute to market uncertainty, </span><span style="font-family:Arial;font-size:9.5pt;margin-left:0.0pt;">market volatility, and fluctuations in the value of the </span><span style="font-family:Arial;font-size:9.5pt;">Fund’s investments, thereby resulting</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">in potential losses to the Fund over short or long</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">periods.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Investing in Equity Markets</span><span style="font-family:Arial;font-size:9.5pt;font-weight:bold;">.</span><span style="font-family:Arial;font-size:9.5pt;"> The Fund invests in the equity markets. Equity markets have historically been cyclical, having periods of time when stock values rise and fall. Market volatility can lead to significant fluctuations in stock values, resulting in potential losses to the Fund.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Market Capitalization (Market Cap).</span><span style="font-family:Arial;font-size:9.5pt;"> Companies are generally classified into three types of market cap depending on their size: small-, mid-, and large-cap. Companies can be further classified into micro- or mega-cap. Different factors can affect each market cap uniquely, and historically small- and mid-cap stocks have typically been more volatile due to the effects of changing economic conditions. Large companies may not reach the same levels of growth or performance as smaller companies, and they may be slower to react to competitive challenges. The performance of funds that invest in a subset of market caps could diverge from the performance of a fund that is focused on a broader representation of the stock market.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Index Investing</span><span style="font-family:Arial;font-size:9.5pt;font-weight:bold;">.</span><span style="font-family:Arial;font-size:9.5pt;"> The Fund is subject to risks associated with index investing. Because the Fund generally seeks to track the performance of the Target Index regardless of how the Target Index is performing, the Fund’s performance may be lower than it would be if it were actively managed. Although the Fund seeks to hold substantially all of the securities included in the Target Index, it may be unable to do so. In addition, the Fund could be prevented from holding one or more securities in the same proportion as in the Target Index. The performance of the Fund’s investments,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">in the aggregate,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">may not match the investment performance of the Target Index. This risk, known as tracking error risk, may be heightened during times of increased market volatility or under other unusual market conditions. The Fund also could be negatively impacted by changes to the Target Index made by the index provider or by errors made by the index provider. Any gains, losses, or costs associated with or resulting from an error made by the index provider will generally be borne by the Fund and, as a result, the Fund’s shareholders.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Nondiversification.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">By tracking its broad-based Target Index, the Fund could become nondiversified, as defined under the Investment Company Act of 1940, due to events such as an index rebalance or market movement. The performance of nondiversified funds may be negatively impacted by relatively few securities or even a single security and their shares may experience significant fluctuations in value.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Concentration Risk.</span><span style="font-family:Arial;font-size:9.5pt;"> Except as may be necessary to approximate the composition of its Target Index, the Fund will not concentrate its investments in the securities of issuers whose principal business activities are in the same industry or group of industries. If the Target Index becomes concentrated and the Fund needs to concentrate in the same industry or group of industries, its </span><span style="font-family:Arial;font-size:9.5pt;margin-left:0.0pt;">performance could be negatively impacted by the industry or industries in which it is concentrated.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Information Technology</span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Sector.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">As of the Fund’s most recent fiscal year end,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">stocks of</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">companies within the information technology sector made up a significant portion of the Target</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">Index.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">As a result,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">the performance of the Target Index,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">and therefore the performance of the Fund, may be impacted by the general condition of the information technology</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">sector.</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;font-weight:bold;">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.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Annual Total Returns</span> <span style="font-family:Arial;font-size:9.5pt;">The following bar chart and table show the Fund’s historical performance and are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund’s Institutional Shares has varied from one calendar year to another over the periods shown. The table shows how the average annual total returns of the Institutional Shares compare with those of a broad-based securities market index and one or more additional indexes</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">with similar investment characteristics as the Fund.</span><span style="font-family:Arial;font-size:9.5pt;"> Keep in mind that </span><span style="font-family:Arial;font-size:9.5pt;">the Fund’s past performance (before and after taxes) does not indicate how the Fund will perform in the future.</span><span style="font-family:Arial;font-size:9.5pt;"> Updated performance information is available on </span><span style="font-family:Arial;font-size:9.5pt;">our website at </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;">vanguard.com/performance</span><span style="font-family:Arial;font-size:9.5pt;">.</span> <span style="font-family:Arial;font-size:9.5pt;">The following bar chart and table show the Fund’s historical performance and are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund’s Institutional Shares has varied from one calendar year to another over the periods shown. The table shows how the average annual total returns of the Institutional Shares compare with those of a broad-based securities market index and one or more additional indexes</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">with similar investment characteristics as the Fund.</span> <span style="font-family:Arial;font-size:9.5pt;"> Keep in mind that </span><span style="font-family:Arial;font-size:9.5pt;">the Fund’s past performance (before and after taxes) does not indicate how the Fund will perform in the future.</span> <span style="font-family:Arial;font-size:9.5pt;font-style:italic;">vanguard.com/performance</span> <span style="font-family:Arial;font-size:8pt;font-weight:bold;">Annual Total Returns — Vanguard Large-Cap Index Fund Institutional Shares</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">During the periods shown in the bar chart, the highest and lowest returns for a calendar quarter were:</span> <span style="color:#000000;font-family:Arial;font-size:8pt;margin-left:0.0pt;">Highest</span> 0.2140 2020-06-30 <span style="color:#000000;font-family:Arial;font-size:8pt;margin-left:0.0pt;">Lowest</span> -0.1942 2020-03-31 <span style="font-family:Arial;font-size:8.5pt;font-weight:bold;">Average Annual Total Returns for Periods Ended December 31, 2025</span> 0.1810 0.1392 0.1479 0.1777 0.1354 0.1434 0.1091 0.1109 0.1235 0.1814 0.1395 0.1483 0.1705 0.1307 0.1421 <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Actual after-tax returns depend on your tax situation and may differ from those shown in the preceding table. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">When after-tax returns are calculated, it is </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">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. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">Please note that after-tax returns are not relevant for a </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">Also, figures captioned </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:italic;">Return After Taxes on Distributions and Sale of Fund Shares</span><span style="color:#000000;font-family:Arial;font-size:9.5pt;"> 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.</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">When after-tax returns are calculated, it is </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">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. </span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Please note that after-tax returns are not relevant for a </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. </span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Also, figures captioned </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:italic;">Return After Taxes on Distributions and Sale of Fund Shares</span><span style="color:#000000;font-family:Arial;font-size:9.5pt;"> 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.</span> <span style="color:#000000;font-family:Arial;font-size:13pt;font-weight:bold;">Vanguard Value Index Fund</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Investment Objective</span> <span style="font-family:Arial;font-size:9.5pt;">Vanguard Value Index Fund (the “Fund”) seeks to track the performance of a benchmark index that measures the investment return of large-capitalization value stocks.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Fees and Expenses</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">The following tables describe the fees and expenses you may pay if you buy, hold, and sell Institutional Shares of the Fund. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;font-weight:bold;">You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the tables and example below.</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Shareholder Fees</span> <br/><span style="color:#000000;font-family:Arial;font-size:8.5pt;">(Fees paid directly from your investment)</span> 0 0 0 0 <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Annual Fund Operating Expenses</span> <br/><span style="color:#000000;font-family:Arial;font-size:8.5pt;">(Expenses that you pay each year as a percentage of the value of your investment)</span> 0.0003 0 0.0000 0.0003 <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Example</span> <span style="font-family:Arial;font-size:9.5pt;">This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other funds. The example assumes that you invest $10,000 in the Fund for</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">the time periods indicated and then redeem all of your shares at the end of those periods. The example also assumes that your investment has a 5%</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">return each year</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">and that the Fund’s operating expenses remain the</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">same.</span> 3 10 17 39 <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Portfolio Turnover</span> <span style="font-family:Arial;font-size:9.5pt;">The Fund pays transaction costs, such as commissions, 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 higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was </span><span style="font-family:Arial;font-size:9.5pt;">8</span><span style="font-family:Arial;font-size:9.5pt;">% of the average value of its portfolio.</span> 0.08 <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Principal Investment Strategies</span> <span style="font-family:Arial;font-size:9.5pt;">The Fund employs an indexing investment approach designed to track the performance of the CRSP US Large Cap Value Index (the “Target Index”), a broadly diversified index made up of the value stocks of large U.S. companies, as determined by the index provider. Under normal circumstances, the Fund invests at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in the stocks that make up the Target Index. The Fund attempts to replicate the Target Index by investing all, or substantially all, of its assets in the stocks that make up the Target Index, holding each stock in approximately the same proportion as its weighting in the Target Index.</span> <span style="font-family:Arial;font-size:9.5pt;">As with any investment, an investment in the Fund could lose money over any time</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">period.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">General Market Risk.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">The markets in which</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">the Fund invests can be affected by a variety of factors. These factors, which can be real or perceived,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">may include</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">economic, market, political,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">and regulatory conditions and developments as well as local,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">regional,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">or global events such as wars, military conflicts, natural disasters, and public health issues. In addition, investor sentiment and expectations regarding these factors can also impact the markets. Different parts of the market, including different industries and sectors as well as different types of securities, may react differently to factors that affect the market. These factors can contribute to market uncertainty, market volatility, and fluctuations in the value of the Fund’s investments, thereby resulting</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">in potential losses to the Fund over short or long</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">periods.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Investing in Equity Markets</span><span style="font-family:Arial;font-size:9.5pt;font-weight:bold;">.</span><span style="font-family:Arial;font-size:9.5pt;"> The Fund invests in the equity markets. Equity markets have historically been cyclical, having periods of time when stock values rise and fall. Market volatility can lead to significant fluctuations in stock values, resulting in potential losses to the Fund.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Market Capitalization (Market Cap).</span><span style="font-family:Arial;font-size:9.5pt;"> Companies are generally classified into three types of market cap depending on their size: small-, mid-, and large-cap. Companies can be further classified into micro- or mega-cap. </span><span style="font-family:Arial;font-size:9.5pt;margin-left:0.0pt;">Different factors can affect each market cap uniquely, and historically small- and mid-cap stocks have typically been more volatile due to the effects of changing economic conditions. Large companies may not reach the same levels of growth or performance as smaller companies, and they may be slower to react to competitive challenges. The performance of funds that invest in a subset of market caps could diverge from the performance of a fund that is focused on a broader representation of the stock market.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Value Investing</span><span style="font-family:Arial;font-size:9.5pt;font-weight:bold;">.</span><span style="font-family:Arial;font-size:9.5pt;"> The Fund’s approach to value investing could cause it to underperform other stock funds that use a different investment style. The Fund’s investments in value stocks are subject to the risk that the stocks’ valuations do not improve at the anticipated rate or that their returns do not move in tandem with the returns of other investment styles or the broader stock market.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Index Investing</span><span style="font-family:Arial;font-size:9.5pt;font-weight:bold;">.</span><span style="font-family:Arial;font-size:9.5pt;"> The Fund is subject to risks associated with index investing. Because the Fund generally seeks to track the performance of the Target Index regardless of how the Target Index is performing, the Fund’s performance may be lower than it would be if it were actively managed. Although the Fund seeks to hold substantially all of the securities included in the Target Index, it may be unable to do so. In addition, the Fund could be prevented from holding one or more securities in the same proportion as in the Target Index. The performance of the Fund’s investments,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">in the aggregate,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">may not match the investment performance of the Target Index. This risk, known as tracking error risk, may be heightened during times of increased market volatility or under other unusual market conditions. The Fund also could be negatively impacted by changes to the Target Index made by the index provider or by errors made by the index provider. Any gains, losses, or costs associated with or resulting from an error made by the index provider will generally be borne by the Fund and, as a result, the Fund’s shareholders.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Concentration Risk.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">Except as may be necessary to approximate the composition of its Target Index, the Fund will not concentrate its investments in the securities of issuers whose principal business activities are in the same industry or group of industries.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">If the Target Index becomes concentrated and the Fund needs to concentrate in the same industry or group of industries, its performance could be negatively impacted by the industry or industries in which it is</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">concentrated.</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;font-weight:bold;">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.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Annual Total Returns</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">The following bar chart and table show the Fund’s historical performance and are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund’s Institutional Shares has varied </span><span style="font-family:Arial;font-size:9.5pt;">from one calendar year to another over the periods shown. The table shows how the average annual total returns of the Institutional Shares compare with those of a broad-based securities market index and one or more additional indexes</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">with similar investment characteristics as the Fund.</span><span style="font-family:Arial;font-size:9.5pt;"> Keep in mind that </span><span style="font-family:Arial;font-size:9.5pt;">the Fund’s past performance (before and after taxes) does not indicate how the Fund will perform in the future.</span><span style="font-family:Arial;font-size:9.5pt;"> Updated performance information is available on </span><span style="font-family:Arial;font-size:9.5pt;">our website at </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;">vanguard.com/performance</span><span style="font-family:Arial;font-size:9.5pt;">.</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">The following bar chart and table show the Fund’s historical performance and are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund’s Institutional Shares has varied </span><span style="font-family:Arial;font-size:9.5pt;">from one calendar year to another over the periods shown. The table shows how the average annual total returns of the Institutional Shares compare with those of a broad-based securities market index and one or more additional indexes</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">with similar investment characteristics as the Fund.</span> <span style="font-family:Arial;font-size:9.5pt;"> Keep in mind that </span><span style="font-family:Arial;font-size:9.5pt;">the Fund’s past performance (before and after taxes) does not indicate how the Fund will perform in the future.</span> <span style="font-family:Arial;font-size:9.5pt;font-style:italic;">vanguard.com/performance</span> <span style="font-family:Arial;font-size:8pt;font-weight:bold;">Annual Total Returns — Vanguard Value Index Fund Institutional Shares</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">During the periods shown in the bar chart, the highest and lowest returns for a calendar quarter were:</span> <span style="color:#000000;font-family:Arial;font-size:8pt;margin-left:0.0pt;">Highest</span> 0.1467 2022-12-31 <span style="color:#000000;font-family:Arial;font-size:8pt;margin-left:0.0pt;">Lowest</span> -0.2499 2020-03-31 <span style="font-family:Arial;font-size:8.5pt;font-weight:bold;">Average Annual Total Returns for Periods Ended December 31, 2025</span> 0.1529 0.1260 0.1167 0.1471 0.1196 0.1100 0.0943 0.0995 0.0951 0.1531 0.1260 0.1168 0.1705 0.1307 0.1421 <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Actual after-tax returns depend on your tax situation and may differ from those shown in the preceding table. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">When after-tax returns are calculated, it is </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">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. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">Please note that after-tax returns are not relevant for a </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">Also, figures captioned </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:italic;">Return </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:italic;">After Taxes on Distributions and Sale of Fund Shares</span><span style="color:#000000;font-family:Arial;font-size:9.5pt;"> 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.</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">When after-tax returns are calculated, it is </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">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. </span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Please note that after-tax returns are not relevant for a </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. </span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Also, figures captioned </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:italic;">Return </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:italic;">After Taxes on Distributions and Sale of Fund Shares</span><span style="color:#000000;font-family:Arial;font-size:9.5pt;"> 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.</span> <span style="color:#000000;font-family:Arial;font-size:13pt;font-weight:bold;">Vanguard Growth Index Fund</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Investment Objective</span> <span style="font-family:Arial;font-size:9.5pt;">Vanguard Growth Index Fund (the “Fund”) seeks to track the performance of a benchmark index that measures the investment return of large-capitalization growth stocks.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Fees and Expenses</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">The following tables describe the fees and expenses you may pay if you buy, hold, and sell Institutional Shares of the Fund. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;font-weight:bold;">You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the tables and example below.</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Shareholder Fees</span> <br/><span style="color:#000000;font-family:Arial;font-size:8.5pt;">(Fees paid directly from your investment)</span> 0 0 0 0 <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Annual Fund Operating Expenses</span> <br/><span style="color:#000000;font-family:Arial;font-size:8.5pt;">(Expenses that you pay each year as a percentage of the value of your investment)</span> 0.0003 0 0.0000 0.0003 <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Example</span> <span style="font-family:Arial;font-size:9.5pt;">This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other funds. The example assumes that you invest $10,000 in the Fund for</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">the time periods indicated and then redeem all of your shares at the end of those periods. The example also assumes that your investment has a 5%</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">return each year</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">and that the Fund’s operating expenses remain the</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">same.</span> 3 10 17 39 <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Portfolio Turnover</span> <span style="font-family:Arial;font-size:9.5pt;">The Fund pays transaction costs, such as commissions, 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 higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was </span><span style="font-family:Arial;font-size:9.5pt;">12</span><span style="font-family:Arial;font-size:9.5pt;">% of the average value of its portfolio.</span> 0.12 <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Principal Investment Strategies</span> <span style="font-family:Arial;font-size:9.5pt;">The Fund employs an indexing investment approach designed to track the performance of the CRSP US Large Cap Growth Index (the “Target Index”), a broadly diversified index made up of the growth stocks of large U.S. companies, as determined by the index provider. Under normal circumstances, the Fund invests at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in the stocks that make up the Target Index. The Fund attempts to replicate the Target Index by investing all, or substantially all, of its assets in the stocks that make up the Target Index, holding each stock in approximately the same proportion as its weighting in the Target Index.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;">The Fund may become nondiversified, as defined under the Investment Company Act of 1940, solely as a result of tracking an index. This could occur due to events such as an index rebalance or market movement. A nondiversified fund may invest a greater percentage of its assets in the securities of particular issuers as compared with diversified funds. In addition, the Fund could become concentrated in an industry or group of industries if the Target Index becomes concentrated due to market conditions or the performance of a single or related group of issuers.</span> <span style="font-family:Arial;font-size:9.5pt;">As with any investment, an investment in the Fund could lose money over any time</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">period.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">General Market Risk.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">The markets in which</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">the Fund invests can be affected by a variety of factors. These factors, which can be real or perceived,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">may include</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">economic, market, political,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">and regulatory conditions and developments as well as local,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">regional,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">or global events such as wars, military conflicts, natural disasters, and public health issues. In addition, investor sentiment and expectations regarding these factors can also impact the markets. Different parts of the market, including different industries and sectors as well as different types of securities, may react differently to factors that affect the market. These factors can contribute to market uncertainty, </span><span style="font-family:Arial;font-size:9.5pt;margin-left:0.0pt;">market volatility, and fluctuations in the value of the </span><span style="font-family:Arial;font-size:9.5pt;">Fund’s investments, thereby resulting</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">in potential losses to the Fund over short or long</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">periods.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Investing in Equity Markets</span><span style="font-family:Arial;font-size:9.5pt;font-weight:bold;">.</span><span style="font-family:Arial;font-size:9.5pt;"> The Fund invests in the equity markets. Equity markets have historically been cyclical, having periods of time when stock values rise and fall. Market volatility can lead to significant fluctuations in stock values, resulting in potential losses to the Fund.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Market Capitalization (Market Cap).</span><span style="font-family:Arial;font-size:9.5pt;"> Companies are generally classified into three types of market cap depending on their size: small-, mid-, and large-cap. Companies can be further classified into micro- or mega-cap. Different factors can affect each market cap uniquely, and historically small- and mid-cap stocks have typically been more volatile due to the effects of changing economic conditions. Large companies may not reach the same levels of growth or performance as smaller companies, and they may be slower to react to competitive challenges. The performance of funds that invest in a subset of market caps could diverge from the performance of a fund that is focused on a broader representation of the stock market.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Growth Investing</span><span style="font-family:Arial;font-size:9.5pt;font-weight:bold;">.</span><span style="font-family:Arial;font-size:9.5pt;"> The Fund’s approach to growth investing could cause it to underperform other stock funds that use a different investment style. Growth stocks typically produce lower yields because growth companies prefer to reinvest earnings into research and development to promote growth and increase profitability. Research and development can be expensive and may not always produce favorable results, which could harm a company’s performance relative to the broader market.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Index Investing</span><span style="font-family:Arial;font-size:9.5pt;font-weight:bold;">.</span><span style="font-family:Arial;font-size:9.5pt;"> The Fund is subject to risks associated with index investing. Because the Fund generally seeks to track the performance of the Target Index regardless of how the Target Index is performing, the Fund’s performance may be lower than it would be if it were actively managed. Although the Fund seeks to hold substantially all of the securities included in the Target Index, it may be unable to do so. In addition, the Fund could be prevented from holding one or more securities in the same proportion as in the Target Index. The performance of the Fund’s investments,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">in the aggregate,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">may not match the investment performance of the Target Index. This risk, known as tracking error risk, may be heightened during times of increased market volatility or under other unusual market conditions. The Fund also could be negatively impacted by changes to the Target Index made by the index provider or by errors made by the index provider. Any gains, losses, or costs associated with or resulting from an error made by the index provider will generally be borne by the Fund and, as a result, the Fund’s shareholders.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Nondiversification.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">By tracking its broad-based Target Index, the Fund could become nondiversified, as defined under the Investment Company Act of 1940, due to events such as an index rebalance or market movement. The performance of nondiversified</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">funds may be negatively impacted by relatively </span><span style="font-family:Arial;font-size:9.5pt;margin-left:0.0pt;">few securities</span><span style="font-family:Arial;font-size:9.5pt;"> or even a single security and their shares may experience significant fluctuations in</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">value.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Concentration Risk.</span><span style="font-family:Arial;font-size:9.5pt;"> Except as may be necessary to approximate the composition of its Target Index, the Fund will not concentrate its investments in the securities of issuers whose principal business activities are in the same industry or group of industries. If the Target Index becomes concentrated and the Fund needs to concentrate in the same industry or group of industries, its performance could be negatively impacted by the industry or industries in which it is concentrated.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Information Technology</span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Sector.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">As of the Fund’s most recent fiscal year end,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">stocks of</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">companies within the information technology sector made up a significant portion of the Target</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">Index.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">As a result,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">the performance of the Target Index,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">and therefore the performance of the Fund, may be impacted by the general condition of the information technology</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">sector.</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;font-weight:bold;">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.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Annual Total Returns</span> <span style="font-family:Arial;font-size:9.5pt;">The following bar chart and table show the Fund’s historical performance and are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund’s Institutional Shares has varied from one calendar year to another over the periods shown. The table shows how the average annual total returns of the Institutional Shares compare with those of a broad-based securities market index and one or more additional indexes</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">with similar investment characteristics as the Fund.</span><span style="font-family:Arial;font-size:9.5pt;"> Keep in mind that </span><span style="font-family:Arial;font-size:9.5pt;">the Fund’s past performance (before and after taxes) does not indicate how the Fund will perform in the future.</span><span style="font-family:Arial;font-size:9.5pt;"> Updated performance information is available on </span><span style="font-family:Arial;font-size:9.5pt;">our website at </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;">vanguard.com/performance</span><span style="font-family:Arial;font-size:9.5pt;">.</span> <span style="font-family:Arial;font-size:9.5pt;">The following bar chart and table show the Fund’s historical performance and are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund’s Institutional Shares has varied from one calendar year to another over the periods shown. The table shows how the average annual total returns of the Institutional Shares compare with those of a broad-based securities market index and one or more additional indexes</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">with similar investment characteristics as the Fund.</span> <span style="font-family:Arial;font-size:9.5pt;"> Keep in mind that </span><span style="font-family:Arial;font-size:9.5pt;">the Fund’s past performance (before and after taxes) does not indicate how the Fund will perform in the future.</span> <span style="font-family:Arial;font-size:9.5pt;font-style:italic;">vanguard.com/performance</span> <span style="font-family:Arial;font-size:8pt;font-weight:bold;">Annual Total Returns — Vanguard Growth Index Fund Institutional Shares</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">During the periods shown in the bar chart, the highest and lowest returns for a calendar quarter were:</span> <span style="color:#000000;font-family:Arial;font-size:8pt;margin-left:0.0pt;">Highest</span> 0.2904 2020-06-30 <span style="color:#000000;font-family:Arial;font-size:8pt;margin-left:0.0pt;">Lowest</span> -0.2241 2022-06-30 <span style="font-family:Arial;font-size:8.5pt;font-weight:bold;">Average Annual Total Returns for Periods Ended December 31, 2025</span> 0.1944 0.1463 0.1745 0.1931 0.1448 0.1720 0.1158 0.1175 0.1485 0.1948 0.1467 0.1749 0.1705 0.1307 0.1421 <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Actual after-tax returns depend on your tax situation and may differ from those shown in the preceding table. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">When after-tax returns are calculated, it is </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">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. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">Please note that after-tax returns are not relevant for a </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">Also, figures captioned </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:italic;">Return After Taxes on Distributions and Sale of Fund Shares</span><span style="color:#000000;font-family:Arial;font-size:9.5pt;"> 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.</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">When after-tax returns are calculated, it is </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">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. </span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Please note that after-tax returns are not relevant for a </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. </span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Also, figures captioned </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:italic;">Return After Taxes on Distributions and Sale of Fund Shares</span><span style="color:#000000;font-family:Arial;font-size:9.5pt;"> 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.</span> <span style="color:#000000;font-family:Arial;font-size:13pt;font-weight:bold;">Vanguard Extended Market Index Fund</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Investment Objective</span> <span style="font-family:Arial;font-size:9.5pt;">Vanguard Extended Market Index Fund (the “Fund”) seeks to track the performance of a benchmark index that measures the investment return of small- and mid-capitalization stocks.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Fees and Expenses</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">The following tables describe the fees and expenses you may pay if you buy, hold, and sell Investor Shares of the Fund. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;font-weight:bold;">You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the tables and example below.</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Shareholder Fees</span> <br/><span style="color:#000000;font-family:Arial;font-size:8.5pt;">(Fees paid directly from your investment)</span> 0 0 0 0 25 <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Annual Fund Operating Expenses</span> <br/><span style="color:#000000;font-family:Arial;font-size:8.5pt;">(Expenses that you pay each year as a percentage of the value of your investment)</span> 0.0018 0 0.0001 0.0019 <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Example</span> <span style="font-family:Arial;font-size:9.5pt;">This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other funds. The example assumes that you invest $10,000 in the Fund for</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">the time periods indicated and then redeem all of your shares at the end of those periods. The example also assumes that your investment has a 5%</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">return each year</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">and that the Fund’s operating expenses remain the</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">same.</span> 19 61 107 243 <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Portfolio Turnover</span> <span style="font-family:Arial;font-size:9.5pt;">The Fund pays transaction costs, such as commissions, 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 higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was </span><span style="font-family:Arial;font-size:9.5pt;">12</span><span style="font-family:Arial;font-size:9.5pt;">% of the average value of its portfolio.</span> 0.12 <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Principal Investment Strategies</span> <span style="font-family:Arial;font-size:9.5pt;">The Fund employs an indexing investment approach designed to track the performance of the S&amp;P Completion Index (the “Target Index”), a broadly diversified index of stocks of small and mid-size U.S. companies. Under normal circumstances,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">the Fund invests at least</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">80% of its net assets, plus the amount of any</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">borrowings for investment purposes, in the stocks that make up the Target Index. The Fund invests by sampling the Target Index, meaning that it holds a range of securities that, in the aggregate, approximates the full Target Index in terms of key risk</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">factors and other</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">characteristics.</span> <span style="font-family:Arial;font-size:9.5pt;">As with any investment, an investment in the Fund could lose money over any time</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">period.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">General Market Risk.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">The markets in which</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">the Fund invests can be affected by a variety of factors. These factors, which can be real or perceived,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">may include</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">economic, market, political,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">and regulatory conditions and developments as well as local,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">regional,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">or global events such as wars, military conflicts, natural disasters, and public health issues. In addition, investor sentiment and expectations regarding these factors can also impact the markets. Different parts of the market, including different industries and sectors as well as different types of securities, may react differently to factors that affect the market. These factors can contribute to market uncertainty, market volatility, and fluctuations in the value of the Fund’s investments, thereby resulting</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">in potential losses to the Fund over short or long</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">periods.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Investing in Equity Markets</span><span style="font-family:Arial;font-size:9.5pt;font-weight:bold;">.</span><span style="font-family:Arial;font-size:9.5pt;"> The Fund invests in the equity markets. Equity markets have historically been cyclical, having periods of time when stock values rise and fall. Market volatility can lead to significant fluctuations in stock values, resulting in potential losses to the Fund.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Market Capitalization</span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">(Market</span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Cap).</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">Companies are generally classified into three types of market cap depending on their size: small-,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">mid-,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">and large-cap.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">Companies can be further classified into micro-</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">or</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">mega-cap. Different factors can affect each market cap uniquely, and historically small- and mid-cap stocks have typically been more volatile due to the effects</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">of </span><span style="font-family:Arial;font-size:9.5pt;margin-left:0.0pt;">changing economic conditions.</span><span style="font-family:Arial;font-size:9.5pt;"> Large companies may not reach the same </span><span style="font-family:Arial;font-size:9.5pt;margin-left:0.0pt;">levels of growth or performance as smaller companies</span><span style="font-family:Arial;font-size:9.5pt;">, and they may be </span><span style="font-family:Arial;font-size:9.5pt;margin-left:0.0pt;">slower to react to competitive challenges</span><span style="font-family:Arial;font-size:9.5pt;">. The performance of funds that </span><span style="font-family:Arial;font-size:9.5pt;margin-left:0.0pt;">invest</span><span style="font-family:Arial;font-size:9.5pt;"> in a subset of market caps could</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">diverge from the</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">performance of a </span><span style="font-family:Arial;font-size:9.5pt;margin-left:0.0pt;">fund that is focused on a broader representation of the stock</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">market.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Index Investing</span><span style="font-family:Arial;font-size:9.5pt;font-weight:bold;">.</span><span style="font-family:Arial;font-size:9.5pt;"> The Fund is subject to risks associated with index investing. Because the Fund generally seeks to track the performance of the Target Index regardless of how the Target Index is performing, the Fund’s performance may be lower than it would be if it were actively managed. Additionally,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">because the Fund does not hold all of the securities included in the Target Index, it is subject to the risk that the representative sample of securities selected by the advisor will, in the aggregate, vary from the investment profile of the full Target Index. The performance of the Fund’s investments,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">in the aggregate,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">may not match the investment performance of the Target Index. This risk, known as tracking error risk, may be heightened during times of increased market volatility or under other unusual market conditions. The Fund also could be negatively impacted by changes to the Target Index made by the index provider or by errors made by the index provider. Any gains, losses, or costs associated with or resulting from an error made by the index provider will generally be borne by the Fund and, as a result, the Fund’s shareholders.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Concentration Risk.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">Except</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">as may be necessary to approximate the composition of its Target Index, the Fund will not concentrate its investments in the securities of issuers whose principal business activities are in the same industry or group of industries. If the Target Index becomes concentrated and the Fund</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">needs to concentrate in the same</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">industry or group of industries, its performance could be negatively impacted by the industry or industries</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">in which it is</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">concentrated.</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;font-weight:bold;">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.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Annual Total Returns</span> <span style="font-family:Arial;font-size:9.5pt;">The following bar chart and table show the Fund’s historical performance and are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund’s Investor Shares has varied from one calendar year to another over the periods shown. The table shows how the average annual total returns of the Investor Shares compare with those of a broad-based securities market index and one or more</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">additional indexes with similar investment characteristics as the Fund.</span><span style="font-family:Arial;font-size:9.5pt;"> Keep in mind that the </span><span style="font-family:Arial;font-size:9.5pt;">Fund’s past performance (before and after taxes) does not indicate how the Fund will perform in the future.</span><span style="font-family:Arial;font-size:9.5pt;"> Updated performance information is available on </span><span style="font-family:Arial;font-size:9.5pt;">our website at </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;">vanguard.com/performance</span><span style="font-family:Arial;font-size:9.5pt;">.</span> <span style="font-family:Arial;font-size:9.5pt;">The following bar chart and table show the Fund’s historical performance and are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund’s Investor Shares has varied from one calendar year to another over the periods shown. The table shows how the average annual total returns of the Investor Shares compare with those of a broad-based securities market index and one or more</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">additional indexes with similar investment characteristics as the Fund.</span> <span style="font-family:Arial;font-size:9.5pt;"> Keep in mind that the </span><span style="font-family:Arial;font-size:9.5pt;">Fund’s past performance (before and after taxes) does not indicate how the Fund will perform in the future.</span> <span style="font-family:Arial;font-size:9.5pt;font-style:italic;">vanguard.com/performance</span> <span style="font-family:Arial;font-size:8pt;font-weight:bold;">Annual Total Returns — Vanguard Extended Market Index Fund Investor Shares</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">During the periods shown in the bar chart, the highest and lowest returns for a calendar quarter were:</span> <span style="color:#000000;font-family:Arial;font-size:8pt;margin-left:0.0pt;">Highest</span> 0.3109 2020-06-30 <span style="color:#000000;font-family:Arial;font-size:8pt;margin-left:0.0pt;">Lowest</span> -0.2801 2020-03-31 <span style="font-family:Arial;font-size:8.5pt;font-weight:bold;">Average Annual Total Returns for Periods Ended December 31, 2025</span> 0.1126 0.0605 0.1087 0.1094 0.0575 0.1050 0.0681 0.0465 0.0887 0.1132 0.0606 0.1089 0.1705 0.1307 0.1421 <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Actual after-tax returns depend on your tax situation and may differ from those shown in the preceding table. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">When after-tax returns are calculated, it is </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">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. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">Please note that after-tax returns are </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">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. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">Also, figures captioned </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:italic;">Return After Taxes on Distributions and Sale of Fund Shares</span><span style="color:#000000;font-family:Arial;font-size:9.5pt;"> 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.</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">When after-tax returns are calculated, it is </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">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. </span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">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. </span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Also, figures captioned </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:italic;">Return After Taxes on Distributions and Sale of Fund Shares</span><span style="color:#000000;font-family:Arial;font-size:9.5pt;"> 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.</span> <span style="color:#000000;font-family:Arial;font-size:13pt;font-weight:bold;">Vanguard Mid-Cap Index Fund</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Investment Objective</span> <span style="font-family:Arial;font-size:9.5pt;">Vanguard Mid-Cap Index Fund (the “Fund”) seeks to track the performance of a benchmark index that measures the investment return of mid-capitalization stocks.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Fees and Expenses</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">The following tables describe the fees and expenses you may pay if you buy, hold, and sell Investor Shares of the Fund. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;font-weight:bold;">You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the tables and example below.</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Shareholder Fees</span> <br/><span style="color:#000000;font-family:Arial;font-size:8.5pt;">(Fees paid directly from your investment)</span> 0 0 0 0 25 <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Annual Fund Operating Expenses</span> <br/><span style="color:#000000;font-family:Arial;font-size:8.5pt;">(Expenses that you pay each year as a percentage of the value of your investment)</span> 0.0016 0 0.0001 0.0017 <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Example</span> <span style="font-family:Arial;font-size:9.5pt;">This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other funds. The example assumes that you invest $10,000 in the Fund for</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">the time periods indicated and then redeem all of your shares at the end of those periods. The example also assumes that your investment has a 5%</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">return each year</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">and that the Fund’s operating expenses remain the</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">same.</span> 17 55 96 217 <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Portfolio Turnover</span> <span style="font-family:Arial;font-size:9.5pt;">The Fund pays transaction costs, such as commissions, 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 higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was </span><span style="font-family:Arial;font-size:9.5pt;">16</span><span style="font-family:Arial;font-size:9.5pt;">% of the average value of its portfolio.</span> 0.16 <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Principal Investment Strategies</span> <span style="font-family:Arial;font-size:9.5pt;">The Fund employs an indexing investment approach designed to track the performance of the CRSP US Mid Cap Index (the “Target Index”), a broadly diversified index of stocks of mid-size U.S. companies, as determined by the index provider. Under normal circumstances, the Fund invests at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in the stocks that make up the Target Index. The Fund attempts to replicate the Target Index by investing all, or substantially all, of its assets in the stocks that make up the Target Index, holding each stock in approximately the same proportion as its weighting in the Target Index.</span> <span style="font-family:Arial;font-size:9.5pt;">As with any investment, an investment in the Fund could lose money over any time</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">period.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">General Market Risk.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">The markets in which</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">the Fund invests can be affected by a variety of factors. These factors, which can be real or perceived,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">may include</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">economic, market, political,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">and regulatory conditions and developments as well as local,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">regional,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">or global events such as wars, military conflicts, natural disasters, and public health issues. In addition, investor sentiment and expectations regarding these factors can also impact the markets. Different parts of the market, including different industries and sectors as well as different types of securities, may react differently to factors that affect the market. These factors can contribute to market uncertainty, market volatility, and fluctuations in the value of the Fund’s investments, thereby resulting</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">in potential losses to</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">the Fund over short or long</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">periods.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Investing in Equity Markets</span><span style="font-family:Arial;font-size:9.5pt;font-weight:bold;">.</span><span style="font-family:Arial;font-size:9.5pt;"> The Fund invests in the equity markets. Equity markets have historically been cyclical, having periods of time when stock values rise and fall. Market volatility can lead to significant fluctuations in stock values, resulting in potential losses to the Fund.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Market Capitalization</span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">(Market Cap).</span><span style="font-family:Arial;font-size:9.5pt;"> Companies are generally classified into three types of market cap depending on their size: small-, mid-,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">and large-cap.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">Companies can be further classified into micro-</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">or mega-cap. </span><span style="font-family:Arial;font-size:9.5pt;margin-left:0.0pt;">Different factors can affect each market cap uniquely</span><span style="font-family:Arial;font-size:9.5pt;">, and historically small- </span><span style="font-family:Arial;font-size:9.5pt;margin-left:0.0pt;">and </span><span style="font-family:Arial;font-size:9.5pt;">mid-cap stocks have typically been more volatile due to the effects</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">of </span><span style="font-family:Arial;font-size:9.5pt;margin-left:0.0pt;">changing economic conditions.</span><span style="font-family:Arial;font-size:9.5pt;"> Large companies may not reach the same </span><span style="font-family:Arial;font-size:9.5pt;margin-left:0.0pt;">levels of growth or performance as smaller companies</span><span style="font-family:Arial;font-size:9.5pt;">, and they may be </span><span style="font-family:Arial;font-size:9.5pt;margin-left:0.0pt;">slower to react to competitive challenges</span><span style="font-family:Arial;font-size:9.5pt;">. The performance of funds that </span><span style="font-family:Arial;font-size:9.5pt;margin-left:0.0pt;">invest in a subset of market</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">caps could diverge</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">from the performance of a </span><span style="font-family:Arial;font-size:9.5pt;margin-left:0.0pt;">fund that is focused on a broader representation of the stock</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">market.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Index Investing</span><span style="font-family:Arial;font-size:9.5pt;font-weight:bold;">.</span><span style="font-family:Arial;font-size:9.5pt;"> The Fund is subject to risks associated with index investing. Because the Fund generally seeks to track the performance of the Target Index regardless of how the Target Index is performing, the Fund’s performance may be lower than it would be if it were actively managed. Although the Fund seeks to hold substantially all of the securities included in the Target Index, it may be unable to do so. In addition, the Fund could be prevented from holding one or more securities in the same proportion as in the Target Index. The performance of the Fund’s investments,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">in the aggregate,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">may not match the investment performance of the Target Index. This risk, known as tracking error risk, may be heightened during times of increased market volatility or under other unusual market conditions. The Fund also could be negatively impacted by changes to the Target Index made by the index provider or by errors made by the index provider. Any gains, losses, or costs associated with or resulting from an error made by the index provider will generally be borne by the Fund and, as a result, the Fund’s shareholders.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Concentration Risk.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">Except as may be necessary to approximate the composition of its Target Index, the Fund will not concentrate its investments in the securities of issuers whose principal business activities are in the same industry or group of industries.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">If the Target Index becomes concentrated and the Fund needs to concentrate in the same industry or group of industries, its performance could be negatively impacted by the industry or industries in which it is</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">concentrated.</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;font-weight:bold;">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.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Annual Total Returns</span> <span style="font-family:Arial;font-size:9.5pt;">The following bar chart and table show the Fund’s historical performance and are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund’s Investor Shares has varied from one calendar year to another over the periods shown. The table shows how the average annual total returns of the Investor Shares compare with those of a broad-based securities market index and one or more additional indexes with similar investment characteristics as the Fund.</span><span style="font-family:Arial;font-size:9.5pt;"> Keep in mind that the </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">Fund’s past performance (before and after taxes) does not indicate how the Fund will perform in the future.</span><span style="color:#000000;font-family:Arial;font-size:9.5pt;"> Updated performance information is available on </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">our website at </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:italic;">vanguard.com/performance</span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">.</span> <span style="font-family:Arial;font-size:9.5pt;">The following bar chart and table show the Fund’s historical performance and are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund’s Investor Shares has varied from one calendar year to another over the periods shown. The table shows how the average annual total returns of the Investor Shares compare with those of a broad-based securities market index and one or more additional indexes with similar investment characteristics as the Fund.</span> <span style="font-family:Arial;font-size:9.5pt;"> Keep in mind that the </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">Fund’s past performance (before and after taxes) does not indicate how the Fund will perform in the future.</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:italic;">vanguard.com/performance</span> <span style="font-family:Arial;font-size:8pt;font-weight:bold;">Annual Total Returns — Vanguard Mid-Cap Index Fund Investor Shares</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">During the periods shown in the bar chart, the highest and lowest returns for a calendar quarter were:</span> <span style="color:#000000;font-family:Arial;font-size:8pt;margin-left:0.0pt;">Highest</span> 0.2492 2020-06-30 <span style="color:#000000;font-family:Arial;font-size:8pt;margin-left:0.0pt;">Lowest</span> -0.2574 2020-03-31 <span style="font-family:Arial;font-size:8.5pt;font-weight:bold;">Average Annual Total Returns for Periods Ended December 31, 2025</span> 0.1153 0.0847 0.1078 0.1113 0.0809 0.1038 0.0706 0.0660 0.0881 0.1170 0.0862 0.1094 0.1705 0.1307 0.1421 <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Actual after-tax returns depend on your tax situation and may differ from those shown in the preceding table. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">When after-tax returns are calculated, it is </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">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. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">Please note that after-tax returns are </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">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. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">Also, figures captioned </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:italic;">Return After Taxes on Distributions and Sale of Fund Shares</span><span style="color:#000000;font-family:Arial;font-size:9.5pt;"> 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.</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">When after-tax returns are calculated, it is </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">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. </span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">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. </span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Also, figures captioned </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:italic;">Return After Taxes on Distributions and Sale of Fund Shares</span><span style="color:#000000;font-family:Arial;font-size:9.5pt;"> 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.</span> <span style="color:#000000;font-family:Arial;font-size:13pt;font-weight:bold;">Vanguard Mid-Cap Value Index Fund</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Investment Objective</span> <span style="font-family:Arial;font-size:9.5pt;">Vanguard Mid-Cap Value Index Fund (the “Fund”) seeks to track the performance of a benchmark index that measures the investment return of mid-capitalization value stocks.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Fees and Expenses</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">The following tables describe the fees and expenses you may pay if you buy, hold, and sell Investor Shares of the Fund. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;font-weight:bold;">You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the tables and example below.</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Shareholder Fees</span> <br/><span style="color:#000000;font-family:Arial;font-size:8.5pt;">(Fees paid directly from your investment)</span> 0 0 0 0 25 <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Annual Fund Operating Expenses</span> <br/><span style="color:#000000;font-family:Arial;font-size:8.5pt;">(Expenses that you pay each year as a percentage of the value of your investment)</span> 0.0018 0 0.0001 0.0019 <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Example</span> <span style="font-family:Arial;font-size:9.5pt;">This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other funds. The example assumes that you invest $10,000 in the Fund for</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">the time periods indicated and then redeem all of your shares at the end of those periods. The example also assumes that your investment has a 5%</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">return each year</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">and that the Fund’s operating expenses remain the</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">same.</span> 19 61 107 243 <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Portfolio Turnover</span> <span style="font-family:Arial;font-size:9.5pt;">The Fund pays transaction costs, such as commissions, 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 higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was </span><span style="font-family:Arial;font-size:9.5pt;">23</span><span style="font-family:Arial;font-size:9.5pt;">% of the average value of its portfolio.</span> 0.23 <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Principal Investment Strategies</span> <span style="font-family:Arial;font-size:9.5pt;">The Fund employs an indexing investment approach designed to track the performance of the CRSP US Mid Cap Value Index (the “Target Index”), a broadly diversified index of value stocks of mid-size U.S. companies, as determined by the index provider. Under normal circumstances, the Fund invests at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in the stocks that make up the Target Index. The Fund attempts to replicate the Target Index by investing all, or substantially all, of its assets in the stocks that make up the Target Index, holding each stock in approximately the same proportion as its weighting in the Target Index.</span> <span style="font-family:Arial;font-size:9.5pt;">As with any investment, an investment in the Fund could lose money over any time</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">period.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">General Market Risk.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">The markets in which</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">the Fund invests can be affected by a variety of factors. These factors, which can be real or perceived,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">may include</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">economic, market, political,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">and regulatory conditions and developments as well as local,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">regional,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">or global events such as wars, military conflicts, natural disasters, and public health issues. In addition, investor sentiment and expectations regarding these factors can also impact the markets. Different parts of the market, including different industries and sectors as well as different types of securities, may react differently to factors that affect the market. These factors can contribute to market uncertainty, market volatility, and fluctuations in the value of the Fund’s investments, thereby resulting</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">in potential losses to</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">the Fund over short or long</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">periods.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Investing in Equity Markets</span><span style="font-family:Arial;font-size:9.5pt;font-weight:bold;">.</span><span style="font-family:Arial;font-size:9.5pt;"> The Fund invests in the equity markets. Equity markets have historically been cyclical, having periods of time when stock values rise and fall. Market volatility can lead to significant fluctuations in stock values, resulting in potential losses to the Fund.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Market Capitalization</span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">(Market Cap).</span><span style="font-family:Arial;font-size:9.5pt;"> Companies are generally classified into three types of market cap depending on their size: small-, mid-,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">and large-cap.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">Companies can be further classified into micro-</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">or</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">mega-cap. </span><span style="font-family:Arial;font-size:9.5pt;margin-left:0.0pt;">Different factors can affect each market cap uniquely</span><span style="font-family:Arial;font-size:9.5pt;">, and historically small- </span><span style="font-family:Arial;font-size:9.5pt;margin-left:0.0pt;">and </span><span style="font-family:Arial;font-size:9.5pt;">mid-cap stocks have typically been more volatile due to the effects</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">of </span><span style="font-family:Arial;font-size:9.5pt;margin-left:0.0pt;">changing economic conditions.</span><span style="font-family:Arial;font-size:9.5pt;"> Large companies may not reach the same </span><span style="font-family:Arial;font-size:9.5pt;margin-left:0.0pt;">levels of growth or performance as smaller companies</span><span style="font-family:Arial;font-size:9.5pt;">, and they may be </span><span style="font-family:Arial;font-size:9.5pt;margin-left:0.0pt;">slower to react to competitive challenges</span><span style="font-family:Arial;font-size:9.5pt;">. The performance of funds that </span><span style="font-family:Arial;font-size:9.5pt;margin-left:0.0pt;">invest in a subset of market</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">caps could diverge</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">from the performance of a </span><span style="font-family:Arial;font-size:9.5pt;margin-left:0.0pt;">fund that is focused on a broader representation of the stock</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">market.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Value Investing</span><span style="font-family:Arial;font-size:9.5pt;font-weight:bold;">.</span><span style="font-family:Arial;font-size:9.5pt;"> The Fund’s approach to value investing could cause it to underperform other stock funds that use a different investment style. The Fund’s investments in value stocks are subject to the risk that the stocks’ valuations do not improve at the anticipated rate or that their returns do not move in tandem with the returns of other investment styles or the broader stock market.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Index Investing</span><span style="font-family:Arial;font-size:9.5pt;font-weight:bold;">.</span><span style="font-family:Arial;font-size:9.5pt;"> The Fund is subject to risks associated with index investing. Because the Fund generally seeks to track the performance of the Target Index regardless of how the Target Index is performing, the Fund’s performance may be lower than it would be if it were actively managed. Although the Fund seeks to hold substantially all of the securities included in the Target Index, it may be unable to do so. In addition, the Fund could be prevented from holding one or more securities in the same proportion as in the Target Index. The performance of the Fund’s investments,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">in the aggregate,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">may not match the investment performance of the Target Index. This risk, known as tracking error risk, may be heightened during times of increased market volatility or under other unusual market conditions. The Fund also could be negatively impacted by changes to the Target Index made by the index provider or by errors made by the index provider. Any gains, losses, or costs associated with or resulting from an error made by the index provider will generally be borne by the Fund and, as a result, the Fund’s shareholders.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Concentration Risk.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">Except as may be necessary to approximate the composition of its Target Index, the Fund will not concentrate its investments in the securities of issuers whose principal business activities are in the same industry or group of industries.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">If the Target Index becomes concentrated and the Fund needs to concentrate in the same industry or group of industries, its performance could be negatively impacted by the industry or industries in which it is</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">concentrated.</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;font-weight:bold;">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.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Annual Total Returns</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">The following bar chart and table show the Fund’s historical performance and are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund’s Investor Shares has varied </span><span style="font-family:Arial;font-size:9.5pt;">from one calendar year to another over the periods shown. The table shows how the average annual total returns of the Investor Shares compare with those of a broad-based securities market index and one or more additional indexes with similar investment characteristics as the Fund.</span><span style="font-family:Arial;font-size:9.5pt;"> Keep in mind that the </span><span style="font-family:Arial;font-size:9.5pt;">Fund’s past performance (before and after taxes) does not indicate how the Fund will perform in the future.</span><span style="font-family:Arial;font-size:9.5pt;"> Updated performance information is available on </span><span style="font-family:Arial;font-size:9.5pt;">our website at </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;">vanguard.com/performance</span><span style="font-family:Arial;font-size:9.5pt;">.</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">The following bar chart and table show the Fund’s historical performance and are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund’s Investor Shares has varied </span><span style="font-family:Arial;font-size:9.5pt;">from one calendar year to another over the periods shown. The table shows how the average annual total returns of the Investor Shares compare with those of a broad-based securities market index and one or more additional indexes with similar investment characteristics as the Fund.</span> <span style="font-family:Arial;font-size:9.5pt;"> Keep in mind that the </span><span style="font-family:Arial;font-size:9.5pt;">Fund’s past performance (before and after taxes) does not indicate how the Fund will perform in the future.</span> <span style="font-family:Arial;font-size:9.5pt;font-style:italic;">vanguard.com/performance</span> <span style="font-family:Arial;font-size:8pt;font-weight:bold;">Annual Total Returns — Vanguard Mid-Cap Value Index Fund Investor Shares</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">During the periods shown in the bar chart, the highest and lowest returns for a calendar quarter were:</span> <span style="color:#000000;font-family:Arial;font-size:8pt;margin-left:0.0pt;">Highest</span> 0.1861 2020-06-30 <span style="color:#000000;font-family:Arial;font-size:8pt;margin-left:0.0pt;">Lowest</span> -0.3138 2020-03-31 <span style="font-family:Arial;font-size:8.5pt;font-weight:bold;">Average Annual Total Returns for Periods Ended December 31, 2025</span> 0.1191 0.1057 0.0980 0.1134 0.1001 0.0922 0.0739 0.0829 0.0790 0.1211 0.1076 0.0997 0.1705 0.1307 0.1421 <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Actual after-tax returns depend on your tax situation and may differ from those shown in the preceding table. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">When after-tax returns are calculated, it is </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">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. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">Please note that after-tax returns are </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">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. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">Also, figures captioned </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:italic;">Return </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:italic;">After Taxes on Distributions and Sale of Fund Shares</span><span style="color:#000000;font-family:Arial;font-size:9.5pt;"> 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.</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">When after-tax returns are calculated, it is </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">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. </span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">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. </span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Also, figures captioned </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:italic;">Return </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:italic;">After Taxes on Distributions and Sale of Fund Shares</span><span style="color:#000000;font-family:Arial;font-size:9.5pt;"> 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.</span> <span style="color:#000000;font-family:Arial;font-size:13pt;font-weight:bold;">Vanguard Mid-Cap Growth Index Fund</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Investment Objective</span> <span style="font-family:Arial;font-size:9.5pt;">Vanguard Mid-Cap Growth Index Fund (the “Fund”) seeks to track the performance of a benchmark index that measures the investment return of mid-capitalization growth stocks.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Fees and Expenses</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">The following tables describe the fees and expenses you may pay if you buy, hold, and sell Investor Shares of the Fund. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;font-weight:bold;">You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the tables and example below.</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Shareholder Fees</span> <br/><span style="color:#000000;font-family:Arial;font-size:8.5pt;">(Fees paid directly from your investment)</span> 0 0 0 0 25 <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Annual Fund Operating Expenses</span> <br/><span style="color:#000000;font-family:Arial;font-size:8.5pt;">(Expenses that you pay each year as a percentage of the value of your investment)</span> 0.0018 0 0.0001 0.0019 <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Example</span> <span style="font-family:Arial;font-size:9.5pt;">This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other funds. The example assumes that you invest $10,000 in the Fund for</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">the time periods indicated and then redeem all of your shares at the end of those periods. The example also assumes that your investment has a 5%</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">return each year</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">and that the Fund’s operating expenses remain the</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">same.</span> 19 61 107 243 <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Portfolio Turnover</span> <span style="font-family:Arial;font-size:9.5pt;">The Fund pays transaction costs, such as commissions, 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 higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was </span><span style="font-family:Arial;font-size:9.5pt;">17</span><span style="font-family:Arial;font-size:9.5pt;">% of the average value of its portfolio.</span> 0.17 <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Principal Investment Strategies</span> <span style="font-family:Arial;font-size:9.5pt;">The Fund employs an indexing investment approach designed to track the performance of the CRSP US Mid Cap Growth Index (the “Target Index”), a broadly diversified index of growth stocks of mid-size U.S. companies, as determined by the index provider. Under normal circumstances, the Fund invests at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in the stocks that make up the Target Index. The Fund attempts to replicate the Target Index by investing all, or substantially all, of its assets in the stocks that make up the Target Index, holding each stock in approximately the same proportion as its weighting in the Target Index.</span> <span style="font-family:Arial;font-size:9.5pt;">As with any investment, an investment in the Fund could lose money over any time</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">period.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">General Market Risk.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">The markets in which</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">the Fund invests can be affected by a variety of factors. These factors, which can be real or perceived,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">may include</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">economic, market, political,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">and regulatory conditions and developments as well as local,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">regional,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">or global events such as wars, military conflicts, natural disasters, and public health issues. In addition, investor sentiment and expectations regarding these factors can also impact the markets. Different parts of the market, including different industries and sectors as well as different types of securities, may react differently to factors that affect the market. These factors can contribute to market uncertainty, market volatility, and fluctuations in the value of the Fund’s investments, thereby resulting</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">in potential losses to</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">the Fund over short or long</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">periods.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Investing in Equity Markets</span><span style="font-family:Arial;font-size:9.5pt;font-weight:bold;">.</span><span style="font-family:Arial;font-size:9.5pt;"> The Fund invests in the equity markets. Equity markets have historically been cyclical, having periods of time when stock values rise and fall. Market volatility can lead to significant fluctuations in stock values, resulting in potential losses to the Fund.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Market Capitalization</span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">(Market Cap).</span><span style="font-family:Arial;font-size:9.5pt;"> Companies are generally classified into three types of market cap depending on their size: small-, mid-,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">and large-cap.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">Companies can be further classified into micro-</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">or</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">mega-cap. </span><span style="font-family:Arial;font-size:9.5pt;margin-left:0.0pt;">Different factors can affect each market cap uniquely</span><span style="font-family:Arial;font-size:9.5pt;">, and historically small- </span><span style="font-family:Arial;font-size:9.5pt;margin-left:0.0pt;">and </span><span style="font-family:Arial;font-size:9.5pt;">mid-cap stocks have typically been more volatile due to the effects</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">of </span><span style="font-family:Arial;font-size:9.5pt;margin-left:0.0pt;">changing economic conditions.</span><span style="font-family:Arial;font-size:9.5pt;"> Large companies may not reach the same </span><span style="font-family:Arial;font-size:9.5pt;margin-left:0.0pt;">levels of growth or performance as smaller companies</span><span style="font-family:Arial;font-size:9.5pt;">, and they may be </span><span style="font-family:Arial;font-size:9.5pt;margin-left:0.0pt;">slower to react to competitive challenges</span><span style="font-family:Arial;font-size:9.5pt;">. The performance of funds that </span><span style="font-family:Arial;font-size:9.5pt;margin-left:0.0pt;">invest in a subset of market</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">caps could diverge</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">from the performance of a </span><span style="font-family:Arial;font-size:9.5pt;margin-left:0.0pt;">fund that is focused on a broader representation of the stock</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">market.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Growth Investing</span><span style="font-family:Arial;font-size:9.5pt;font-weight:bold;">.</span><span style="font-family:Arial;font-size:9.5pt;"> The Fund’s approach to growth investing could cause it to underperform other stock funds that use a different investment style. Growth stocks typically produce lower yields because growth companies prefer to reinvest earnings into research and development to promote growth and increase profitability. Research and development can be expensive and may not always produce favorable results, which could harm a company’s performance relative to the broader market.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Index Investing</span><span style="font-family:Arial;font-size:9.5pt;font-weight:bold;">.</span><span style="font-family:Arial;font-size:9.5pt;"> The Fund is subject to risks associated with index investing. Because the Fund generally seeks to track the performance of the Target Index regardless of how the Target Index is performing, the Fund’s performance may be lower than it would be if it were actively managed. Although the Fund seeks to hold substantially all of the securities included in the Target Index, it may be unable to do so. In addition, the Fund could be prevented from holding one or more securities in the same proportion as in the Target Index. The performance of the Fund’s investments,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">in the aggregate,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">may not match the investment performance of the Target Index. This risk, known as tracking error risk, may be heightened during times of increased market volatility or under other unusual market conditions. The Fund also could be negatively impacted by changes to the Target Index made by the index provider or by errors made by the index provider. Any gains, losses, or costs associated with or resulting from an error made by the index provider will generally be borne by the Fund and, as a result, the Fund’s shareholders.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Concentration Risk.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">Except as may be necessary to approximate the composition of its Target Index, the Fund will not concentrate its investments in the securities of issuers whose principal business activities are in the same industry or group of industries.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">If the Target Index becomes concentrated and the Fund needs to concentrate in the same industry or group of industries, its performance could be negatively impacted by the industry or industries in which it is</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">concentrated.</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;font-weight:bold;">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.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Annual Total Returns</span> <span style="font-family:Arial;font-size:9.5pt;">The following bar chart and table show the Fund’s historical performance and are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund’s Investor Shares has varied from one calendar year to another over the periods shown. The table shows how the average annual total returns of the Investor Shares compare with those of a broad-based securities market index and one or more additional indexes with similar investment characteristics as the Fund.</span><span style="font-family:Arial;font-size:9.5pt;"> Keep in mind that the </span><span style="font-family:Arial;font-size:9.5pt;">Fund’s past performance (before and after taxes) does not indicate how the Fund will perform in the future.</span><span style="font-family:Arial;font-size:9.5pt;"> Updated performance information is available on </span><span style="font-family:Arial;font-size:9.5pt;">our website at </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;">vanguard.com/performance</span><span style="font-family:Arial;font-size:9.5pt;">.</span> <span style="font-family:Arial;font-size:9.5pt;">The following bar chart and table show the Fund’s historical performance and are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund’s Investor Shares has varied from one calendar year to another over the periods shown. The table shows how the average annual total returns of the Investor Shares compare with those of a broad-based securities market index and one or more additional indexes with similar investment characteristics as the Fund.</span> <span style="font-family:Arial;font-size:9.5pt;"> Keep in mind that the </span><span style="font-family:Arial;font-size:9.5pt;">Fund’s past performance (before and after taxes) does not indicate how the Fund will perform in the future.</span> <span style="font-family:Arial;font-size:9.5pt;font-style:italic;">vanguard.com/performance</span> <span style="font-family:Arial;font-size:8pt;font-weight:bold;">Annual Total Returns — Vanguard Mid-Cap Growth Index Fund Investor Shares</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">During the periods shown in the bar chart, the highest and lowest returns for a calendar quarter were:</span> <span style="color:#000000;font-family:Arial;font-size:8pt;margin-left:0.0pt;">Highest</span> 0.3055 2020-06-30 <span style="color:#000000;font-family:Arial;font-size:8pt;margin-left:0.0pt;">Lowest</span> -0.2120 2022-06-30 <span style="font-family:Arial;font-size:8.5pt;font-weight:bold;">Average Annual Total Returns for Periods Ended December 31, 2025</span> 0.1055 0.0622 0.1150 0.1041 0.0608 0.1133 0.0633 0.0484 0.0953 0.1073 0.0639 0.1168 0.1705 0.1307 0.1421 <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Actual after-tax returns depend on your tax situation and may differ from those shown in the preceding table. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">When after-tax returns are calculated, it is </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">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 </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">upon redemption. State and local income taxes are not reflected in the calculations. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">Please note that after-tax returns are </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">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. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">Also, figures captioned </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:italic;">Return After Taxes on Distributions and Sale of Fund Shares</span><span style="color:#000000;font-family:Arial;font-size:9.5pt;"> 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.</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">When after-tax returns are calculated, it is </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">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 </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">upon redemption. State and local income taxes are not reflected in the calculations. </span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">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. </span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Also, figures captioned </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:italic;">Return After Taxes on Distributions and Sale of Fund Shares</span><span style="color:#000000;font-family:Arial;font-size:9.5pt;"> 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.</span> <span style="color:#000000;font-family:Arial;font-size:13pt;font-weight:bold;">Vanguard Extended Market Index Fund</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Investment Objective</span> <span style="font-family:Arial;font-size:9.5pt;">Vanguard Extended Market Index Fund (the “Fund”) seeks to track the performance of a benchmark index that measures the investment return of small- and mid-capitalization stocks.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Fees and Expenses</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">The following tables describe the fees and expenses you may pay if you buy, hold, and sell Admiral Shares of the Fund. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;font-weight:bold;">You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the tables and example below.</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Shareholder Fees</span> <br/><span style="color:#000000;font-family:Arial;font-size:8.5pt;">(Fees paid directly from your investment)</span> 0 0 0 0 25 <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Annual Fund Operating Expenses</span> <br/><span style="color:#000000;font-family:Arial;font-size:8.5pt;">(Expenses that you pay each year as a percentage of the value of your investment)</span> 0.0005 0 0.0000 0.0005 <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Example</span> <span style="font-family:Arial;font-size:9.5pt;">This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other funds. The example assumes that you invest $10,000 in the Fund for</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">the time periods indicated and then redeem all of your shares at the end of those periods. The example also assumes that your investment has a 5%</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">return each year</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">and that the Fund’s operating expenses remain the</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">same.</span> 5 16 28 64 <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Portfolio Turnover</span> <span style="font-family:Arial;font-size:9.5pt;">The Fund pays transaction costs, such as commissions, 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 higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was </span><span style="font-family:Arial;font-size:9.5pt;">12</span><span style="font-family:Arial;font-size:9.5pt;">% of the average value of its portfolio.</span> 0.12 <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Principal Investment Strategies</span> <span style="font-family:Arial;font-size:9.5pt;">The Fund employs an indexing investment approach designed to track the performance of the S&amp;P Completion Index (the “Target Index”), a broadly diversified index of stocks of small and mid-size U.S. companies. Under normal circumstances,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">the Fund invests at least</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">80% of its net assets, plus the amount of any</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">borrowings for investment purposes, in the stocks that make up the Target Index. The Fund invests by sampling the Target Index, meaning that it holds a range of securities that, in the aggregate, approximates the full Target Index in terms of key risk</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">factors and other</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">characteristics.</span> <span style="font-family:Arial;font-size:9.5pt;">As with any investment, an investment in the Fund could lose money over any time</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">period.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">General Market Risk.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">The markets in which</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">the Fund invests can be affected by a variety of factors. These factors, which can be real or perceived,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">may include</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">economic, market, political,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">and regulatory conditions and developments as well as local,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">regional,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">or global events such as wars, military conflicts, natural disasters, and public health issues. In addition, investor sentiment and expectations regarding these factors can also impact the markets. Different parts of the market, including different industries and sectors as well as different types of securities, may react differently to factors that affect the market. These factors can contribute to market uncertainty, market volatility, and fluctuations in the value of the Fund’s investments, thereby resulting</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">in potential losses to the Fund over short or long</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">periods.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Investing in Equity Markets</span><span style="font-family:Arial;font-size:9.5pt;font-weight:bold;">.</span><span style="font-family:Arial;font-size:9.5pt;"> The Fund invests in the equity markets. Equity markets have historically been cyclical, having periods of time when stock values rise and fall. Market volatility can lead to significant fluctuations in stock values, resulting in potential losses to the Fund.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Market Capitalization</span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">(Market</span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Cap).</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">Companies are generally classified into three types of market cap depending on their size: small-,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">mid-,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">and large-cap.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">Companies can be further classified into micro-</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">or mega-cap. Different factors can affect each market cap uniquely, and historically small- and mid-cap stocks have typically been more volatile due to the effects</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">of </span><span style="font-family:Arial;font-size:9.5pt;margin-left:0.0pt;">changing economic conditions.</span><span style="font-family:Arial;font-size:9.5pt;"> Large companies may not reach the same </span><span style="font-family:Arial;font-size:9.5pt;margin-left:0.0pt;">levels of growth or performance as smaller companies</span><span style="font-family:Arial;font-size:9.5pt;">, and they may be </span><span style="font-family:Arial;font-size:9.5pt;margin-left:0.0pt;">slower to react to competitive challenges</span><span style="font-family:Arial;font-size:9.5pt;">. The performance of funds that </span><span style="font-family:Arial;font-size:9.5pt;margin-left:0.0pt;">invest</span><span style="font-family:Arial;font-size:9.5pt;"> in a subset of market caps could</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">diverge from the</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">performance of a </span><span style="font-family:Arial;font-size:9.5pt;margin-left:0.0pt;">fund that is focused on a broader representation of the stock</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">market.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Index Investing</span><span style="font-family:Arial;font-size:9.5pt;font-weight:bold;">.</span><span style="font-family:Arial;font-size:9.5pt;"> The Fund is subject to risks associated with index investing. Because the Fund generally seeks to track the performance of the Target Index regardless of how the Target Index is performing, the Fund’s performance may be lower than it would be if it were actively managed. Additionally,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">because the Fund does not hold all of the securities included in the Target Index, it is subject to the risk that the representative sample of securities selected by the advisor will, in the aggregate, vary from the investment profile of the full Target Index. The performance of the Fund’s investments,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">in the aggregate,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">may not match the investment performance of the Target Index. This risk, known as tracking error risk, may be heightened during times of increased market volatility or under other unusual market conditions. The Fund also could be negatively impacted by changes to the Target Index made by the index provider or by errors made by the index provider. Any gains, losses, or costs associated with or resulting from an error made by the index provider will generally be borne by the Fund and, as a result, the Fund’s shareholders.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Concentration Risk.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">Except</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">as may be necessary to approximate the composition of its Target Index, the Fund will not concentrate its investments in the securities of issuers whose principal business activities are in the same industry or group of industries. If the Target Index becomes concentrated and the Fund</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">needs to concentrate in the same</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">industry or group of industries, its performance could be negatively impacted by the industry or industries</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">in which it is</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">concentrated.</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;font-weight:bold;">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.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Annual Total Returns</span> <span style="font-family:Arial;font-size:9.5pt;">The following bar chart and table show the Fund’s historical performance and are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund’s Admiral Shares has varied from one calendar year to another over the periods shown. The table shows how the average annual total returns of the Admiral Shares compare with those of a broad-based securities market index and one or more</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">additional indexes with similar investment characteristics as the Fund.</span><span style="font-family:Arial;font-size:9.5pt;"> Keep in mind that the Fund’s </span><span style="font-family:Arial;font-size:9.5pt;">past performance (before and after taxes) does not indicate how the Fund will perform in the future.</span><span style="font-family:Arial;font-size:9.5pt;"> Updated performance information is available on our </span><span style="font-family:Arial;font-size:9.5pt;">website at </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;">vanguard.com/performance</span><span style="font-family:Arial;font-size:9.5pt;">.</span> <span style="font-family:Arial;font-size:9.5pt;">The following bar chart and table show the Fund’s historical performance and are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund’s Admiral Shares has varied from one calendar year to another over the periods shown. The table shows how the average annual total returns of the Admiral Shares compare with those of a broad-based securities market index and one or more</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">additional indexes with similar investment characteristics as the Fund.</span> <span style="font-family:Arial;font-size:9.5pt;"> Keep in mind that the Fund’s </span><span style="font-family:Arial;font-size:9.5pt;">past performance (before and after taxes) does not indicate how the Fund will perform in the future.</span> <span style="font-family:Arial;font-size:9.5pt;font-style:italic;">vanguard.com/performance</span> <span style="font-family:Arial;font-size:8pt;font-weight:bold;">Annual Total Returns — Vanguard Extended Market Index Fund Admiral Shares</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">During the periods shown in the bar chart, the highest and lowest returns for a calendar quarter were:</span> <span style="color:#000000;font-family:Arial;font-size:8pt;margin-left:0.0pt;">Highest</span> 0.3116 2020-06-30 <span style="color:#000000;font-family:Arial;font-size:8pt;margin-left:0.0pt;">Lowest</span> -0.2800 2020-03-31 <span style="font-family:Arial;font-size:8.5pt;font-weight:bold;">Average Annual Total Returns for Periods Ended December 31, 2025</span> 0.1142 0.0619 0.1101 0.1106 0.0585 0.1060 0.0692 0.0475 0.0898 0.1132 0.0606 0.1089 0.1705 0.1307 0.1421 <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Actual after-tax returns depend on your tax situation and may differ from those shown in the preceding table. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">When after-tax returns are calculated, it is </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">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. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">Please note that after-tax returns are </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">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. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">Also, figures captioned </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:italic;">Return After Taxes on Distributions and Sale of Fund Shares</span><span style="color:#000000;font-family:Arial;font-size:9.5pt;"> 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.</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">When after-tax returns are calculated, it is </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">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. </span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">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. </span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Also, figures captioned </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:italic;">Return After Taxes on Distributions and Sale of Fund Shares</span><span style="color:#000000;font-family:Arial;font-size:9.5pt;"> 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.</span> <span style="color:#000000;font-family:Arial;font-size:13pt;font-weight:bold;">Vanguard Mid-Cap Index Fund</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Investment Objective</span> <span style="font-family:Arial;font-size:9.5pt;">Vanguard Mid-Cap Index Fund (the “Fund”) seeks to track the performance of a benchmark index that measures the investment return of mid-capitalization stocks.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Fees and Expenses</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">The following tables describe the fees and expenses you may pay if you buy, hold, and sell Admiral Shares of the Fund. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;font-weight:bold;">You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the tables and example below.</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Shareholder Fees</span> <br/><span style="color:#000000;font-family:Arial;font-size:8.5pt;">(Fees paid directly from your investment)</span> 0 0 0 0 25 <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Annual Fund Operating Expenses</span> <br/><span style="color:#000000;font-family:Arial;font-size:8.5pt;">(Expenses that you pay each year as a percentage of the value of your investment)</span> 0.0004 0 0.0001 0.0005 <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Example</span> <span style="font-family:Arial;font-size:9.5pt;">This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other funds. The example assumes that you invest $10,000 in the Fund for</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">the time periods indicated and then redeem all of your shares at the end of those periods. The example also assumes that your investment has a 5%</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">return each year</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">and that the Fund’s operating expenses remain the</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">same.</span> 5 16 28 64 <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Portfolio Turnover</span> <span style="font-family:Arial;font-size:9.5pt;">The Fund pays transaction costs, such as commissions, 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 higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was </span><span style="font-family:Arial;font-size:9.5pt;">16</span><span style="font-family:Arial;font-size:9.5pt;">% of the average value of its portfolio.</span> 0.16 <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Principal Investment Strategies</span> <span style="font-family:Arial;font-size:9.5pt;">The Fund employs an indexing investment approach designed to track the performance of the CRSP US Mid Cap Index (the “Target Index”), a broadly diversified index of stocks of mid-size U.S. companies, as determined by the index provider. Under normal circumstances, the Fund invests at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in the stocks that make up the Target Index. The Fund attempts to replicate the Target Index by investing all, or substantially all, of its assets in the stocks that make up the Target Index, holding each stock in approximately the same proportion as its weighting in the Target Index.</span> <span style="font-family:Arial;font-size:9.5pt;">As with any investment, an investment in the Fund could lose money over any time</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">period.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">General Market Risk.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">The markets in which</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">the Fund invests can be affected by a variety of factors. These factors, which can be real or perceived,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">may include</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">economic, market, political,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">and regulatory conditions and developments as well as local,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">regional,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">or global events such as wars, military conflicts, natural disasters, and public health issues. In addition, investor sentiment and expectations regarding these factors can also impact the markets. Different parts of the market, including different industries and sectors as well as different types of securities, may react differently to factors that affect the market. These factors can contribute to market uncertainty, market volatility, and fluctuations in the value of the Fund’s investments, thereby resulting</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">in potential losses to</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">the Fund over short or long</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">periods.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Investing in Equity Markets</span><span style="font-family:Arial;font-size:9.5pt;font-weight:bold;">.</span><span style="font-family:Arial;font-size:9.5pt;"> The Fund invests in the equity markets. Equity markets have historically been cyclical, having periods of time when stock values rise and fall. Market volatility can lead to significant fluctuations in stock values, resulting in potential losses to the Fund.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Market Capitalization</span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">(Market Cap).</span><span style="font-family:Arial;font-size:9.5pt;"> Companies are generally classified into three types of market cap depending on their size: small-, mid-,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">and large-cap.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">Companies can be further classified into micro-</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">or mega-cap. </span><span style="font-family:Arial;font-size:9.5pt;margin-left:0.0pt;">Different factors can affect each market cap uniquely</span><span style="font-family:Arial;font-size:9.5pt;">, and historically small- </span><span style="font-family:Arial;font-size:9.5pt;margin-left:0.0pt;">and </span><span style="font-family:Arial;font-size:9.5pt;">mid-cap stocks have typically been more volatile due to the effects</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">of </span><span style="font-family:Arial;font-size:9.5pt;margin-left:0.0pt;">changing economic conditions.</span><span style="font-family:Arial;font-size:9.5pt;"> Large companies may not reach the same </span><span style="font-family:Arial;font-size:9.5pt;margin-left:0.0pt;">levels of growth or performance as smaller companies</span><span style="font-family:Arial;font-size:9.5pt;">, and they may be </span><span style="font-family:Arial;font-size:9.5pt;margin-left:0.0pt;">slower to react to competitive challenges</span><span style="font-family:Arial;font-size:9.5pt;">. The performance of funds that </span><span style="font-family:Arial;font-size:9.5pt;margin-left:0.0pt;">invest in a subset of market</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">caps could diverge</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">from the performance of a </span><span style="font-family:Arial;font-size:9.5pt;margin-left:0.0pt;">fund that is focused on a broader representation of the stock</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">market.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Index Investing</span><span style="font-family:Arial;font-size:9.5pt;font-weight:bold;">.</span><span style="font-family:Arial;font-size:9.5pt;"> The Fund is subject to risks associated with index investing. Because the Fund generally seeks to track the performance of the Target Index regardless of how the Target Index is performing, the Fund’s performance may be lower than it would be if it were actively managed. Although the Fund seeks to hold substantially all of the securities included in the Target Index, it may be unable to do so. In addition, the Fund could be prevented from holding one or more securities in the same proportion as in the Target Index. The performance of the Fund’s investments,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">in the aggregate,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">may not match the investment performance of the Target Index. This risk, known as tracking error risk, may be heightened during times of increased market volatility or under other unusual market conditions. The Fund also could be negatively impacted by changes to the Target Index made by the index provider or by errors made by the index provider. Any gains, losses, or costs associated with or resulting from an error made by the index provider will generally be borne by the Fund and, as a result, the Fund’s shareholders.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Concentration Risk.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">Except as may be necessary to approximate the composition of its Target Index, the Fund will not concentrate its investments in the securities of issuers whose principal business activities are in the same industry or group of industries.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">If the Target Index becomes concentrated and the Fund needs to concentrate in the same industry or group of industries, its performance could be negatively impacted by the industry or industries in which it is</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">concentrated.</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;font-weight:bold;">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.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Annual Total Returns</span> <span style="font-family:Arial;font-size:9.5pt;">The following bar chart and table show the Fund’s historical performance and are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund’s Admiral Shares has varied from one calendar year to another over the periods shown. The table shows how the average annual total returns of the Admiral Shares compare with those of a broad-based securities market index and one or more additional indexes</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">with similar investment characteristics as the Fund.</span><span style="font-family:Arial;font-size:9.5pt;"> Keep in mind that the Fund’s </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">past performance (before and after taxes) does not indicate how the Fund will perform in the future.</span><span style="color:#000000;font-family:Arial;font-size:9.5pt;"> Updated performance information is available on our </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">website at </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:italic;">vanguard.com/performance</span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">.</span> <span style="font-family:Arial;font-size:9.5pt;">The following bar chart and table show the Fund’s historical performance and are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund’s Admiral Shares has varied from one calendar year to another over the periods shown. The table shows how the average annual total returns of the Admiral Shares compare with those of a broad-based securities market index and one or more additional indexes</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">with similar investment characteristics as the Fund.</span> <span style="font-family:Arial;font-size:9.5pt;"> Keep in mind that the Fund’s </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">past performance (before and after taxes) does not indicate how the Fund will perform in the future.</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:italic;">vanguard.com/performance</span> <span style="font-family:Arial;font-size:8pt;font-weight:bold;">Annual Total Returns — Vanguard Mid-Cap Index Fund Admiral Shares</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">During the periods shown in the bar chart, the highest and lowest returns for a calendar quarter were:</span> <span style="color:#000000;font-family:Arial;font-size:8pt;margin-left:0.0pt;">Highest</span> 0.2496 2020-06-30 <span style="color:#000000;font-family:Arial;font-size:8pt;margin-left:0.0pt;">Lowest</span> -0.2572 2020-03-31 <span style="font-family:Arial;font-size:8.5pt;font-weight:bold;">Average Annual Total Returns for Periods Ended December 31, 2025</span> 0.1167 0.0860 0.1091 0.1124 0.0819 0.1048 0.0716 0.0670 0.0891 0.1170 0.0862 0.1094 0.1705 0.1307 0.1421 <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Actual after-tax returns depend on your tax situation and may differ from those shown in the preceding table. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">When after-tax returns are calculated, it is </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">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. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">Please note that after-tax returns are </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">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. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">Also, figures captioned </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:italic;">Return After Taxes on Distributions and Sale of Fund Shares</span><span style="color:#000000;font-family:Arial;font-size:9.5pt;"> 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.</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">When after-tax returns are calculated, it is </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">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. </span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">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. </span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Also, figures captioned </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:italic;">Return After Taxes on Distributions and Sale of Fund Shares</span><span style="color:#000000;font-family:Arial;font-size:9.5pt;"> 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.</span> <span style="color:#000000;font-family:Arial;font-size:13pt;font-weight:bold;">Vanguard Mid-Cap Value Index Fund</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Investment Objective</span> <span style="font-family:Arial;font-size:9.5pt;">Vanguard Mid-Cap Value Index Fund (the “Fund”) seeks to track the performance of a benchmark index that measures the investment return of mid-capitalization value stocks.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Fees and Expenses</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">The following tables describe the fees and expenses you may pay if you buy, hold, and sell Admiral Shares of the Fund. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;font-weight:bold;">You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the tables and example below.</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Shareholder Fees</span> <br/><span style="color:#000000;font-family:Arial;font-size:8.5pt;">(Fees paid directly from your investment)</span> 0 0 0 0 25 <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Annual Fund Operating Expenses</span> <br/><span style="color:#000000;font-family:Arial;font-size:8.5pt;">(Expenses that you pay each year as a percentage of the value of your investment)</span> 0.0006 0 0.0001 0.0007 <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Example</span> <span style="font-family:Arial;font-size:9.5pt;">This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other funds. The example assumes that you invest $10,000 in the Fund for</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">the time periods indicated and then redeem all of your shares at the end of those periods. The example also assumes that your investment has a 5%</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">return each year</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">and that the Fund’s operating expenses remain the</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">same.</span> 7 23 40 90 <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Portfolio Turnover</span> <span style="font-family:Arial;font-size:9.5pt;">The Fund pays transaction costs, such as commissions, 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 higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was </span><span style="font-family:Arial;font-size:9.5pt;">23</span><span style="font-family:Arial;font-size:9.5pt;">% of the average value of its portfolio.</span> 0.23 <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Principal Investment Strategies</span> <span style="font-family:Arial;font-size:9.5pt;">The Fund employs an indexing investment approach designed to track the performance of the CRSP US Mid Cap Value Index (the “Target Index”), a broadly diversified index of value stocks of mid-size U.S. companies, as determined by the index provider. Under normal circumstances, the Fund invests at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in the stocks that make up the Target Index. The Fund attempts to replicate the Target Index by investing all, or substantially all, of its assets in the stocks that make up the Target Index, holding each stock in approximately the same proportion as its weighting in the Target Index.</span> <span style="font-family:Arial;font-size:9.5pt;">As with any investment, an investment in the Fund could lose money over any time</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">period.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">General Market Risk.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">The markets in which</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">the Fund invests can be affected by a variety of factors. These factors, which can be real or perceived,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">may include</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">economic, market, political,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">and regulatory conditions and developments as well as local,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">regional,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">or global events such as wars, military conflicts, natural disasters, and public health issues. In addition, investor sentiment and expectations regarding these factors can also impact the markets. Different parts of the market, including different industries and sectors as well as different types of securities, may react differently to factors that affect the market. These factors can contribute to market uncertainty, market volatility, and fluctuations in the value of the Fund’s investments, thereby resulting</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">in potential losses to</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">the Fund over short or long</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">periods.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Investing in Equity Markets</span><span style="font-family:Arial;font-size:9.5pt;font-weight:bold;">.</span><span style="font-family:Arial;font-size:9.5pt;"> The Fund invests in the equity markets. Equity markets have historically been cyclical, having periods of time when stock values rise and fall. Market volatility can lead to significant fluctuations in stock values, resulting in potential losses to the Fund.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Market Capitalization</span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">(Market Cap).</span><span style="font-family:Arial;font-size:9.5pt;"> Companies are generally classified into three types of market cap depending on their size: small-, mid-,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">and large-cap.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">Companies can be further classified into micro-</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">or</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">mega-cap. </span><span style="font-family:Arial;font-size:9.5pt;margin-left:0.0pt;">Different factors can affect each market cap uniquely</span><span style="font-family:Arial;font-size:9.5pt;">, and historically small- </span><span style="font-family:Arial;font-size:9.5pt;margin-left:0.0pt;">and </span><span style="font-family:Arial;font-size:9.5pt;">mid-cap stocks have typically been more volatile due to the effects</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">of </span><span style="font-family:Arial;font-size:9.5pt;margin-left:0.0pt;">changing economic conditions.</span><span style="font-family:Arial;font-size:9.5pt;"> Large companies may not reach the same </span><span style="font-family:Arial;font-size:9.5pt;margin-left:0.0pt;">levels of growth or performance as smaller companies</span><span style="font-family:Arial;font-size:9.5pt;">, and they may be </span><span style="font-family:Arial;font-size:9.5pt;margin-left:0.0pt;">slower to react to competitive challenges</span><span style="font-family:Arial;font-size:9.5pt;">. The performance of funds that </span><span style="font-family:Arial;font-size:9.5pt;margin-left:0.0pt;">invest in a subset of market</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">caps could diverge</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">from the performance of a </span><span style="font-family:Arial;font-size:9.5pt;margin-left:0.0pt;">fund that is focused on a broader representation of the stock</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">market.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Value Investing</span><span style="font-family:Arial;font-size:9.5pt;font-weight:bold;">.</span><span style="font-family:Arial;font-size:9.5pt;"> The Fund’s approach to value investing could cause it to underperform other stock funds that use a different investment style. The Fund’s investments in value stocks are subject to the risk that the stocks’ valuations do not improve at the anticipated rate or that their returns do not move in tandem with the returns of other investment styles or the broader stock market.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Index Investing</span><span style="font-family:Arial;font-size:9.5pt;font-weight:bold;">.</span><span style="font-family:Arial;font-size:9.5pt;"> The Fund is subject to risks associated with index investing. Because the Fund generally seeks to track the performance of the Target Index regardless of how the Target Index is performing, the Fund’s performance may be lower than it would be if it were actively managed. Although the Fund seeks to hold substantially all of the securities included in the Target Index, it may be unable to do so. In addition, the Fund could be prevented from holding one or more securities in the same proportion as in the Target Index. The performance of the Fund’s investments,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">in the aggregate,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">may not match the investment performance of the Target Index. This risk, known as tracking error risk, may be heightened during times of increased market volatility or under other unusual market conditions. The Fund also could be negatively impacted by changes to the Target Index made by the index provider or by errors made by the index provider. Any gains, losses, or costs associated with or resulting from an error made by the index provider will generally be borne by the Fund and, as a result, the Fund’s shareholders.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Concentration Risk.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">Except as may be necessary to approximate the composition of its Target Index, the Fund will not concentrate its investments in the securities of issuers whose principal business activities are in the same industry or group of industries.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">If the Target Index becomes concentrated and the Fund needs to concentrate in the same industry or group of industries, its performance could be negatively impacted by the industry or industries in which it is</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">concentrated.</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;font-weight:bold;">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.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Annual Total Returns</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">The following bar chart and table show the Fund’s historical performance and are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund’s Admiral Shares has varied from </span><span style="font-family:Arial;font-size:9.5pt;">one calendar year to another over the periods shown. The table shows how the average annual total returns of the Admiral Shares compare with those of a broad-based securities market index and one or more additional indexes</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">with similar investment characteristics as the Fund.</span><span style="font-family:Arial;font-size:9.5pt;"> Keep in mind that the Fund’s </span><span style="font-family:Arial;font-size:9.5pt;">past performance (before and after taxes) does not indicate how the Fund will perform in the future.</span><span style="font-family:Arial;font-size:9.5pt;"> Updated performance information is available on our </span><span style="font-family:Arial;font-size:9.5pt;">website at </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;">vanguard.com/performance</span><span style="font-family:Arial;font-size:9.5pt;">.</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">The following bar chart and table show the Fund’s historical performance and are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund’s Admiral Shares has varied from </span><span style="font-family:Arial;font-size:9.5pt;">one calendar year to another over the periods shown. The table shows how the average annual total returns of the Admiral Shares compare with those of a broad-based securities market index and one or more additional indexes</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">with similar investment characteristics as the Fund.</span> <span style="font-family:Arial;font-size:9.5pt;"> Keep in mind that the Fund’s </span><span style="font-family:Arial;font-size:9.5pt;">past performance (before and after taxes) does not indicate how the Fund will perform in the future.</span> <span style="font-family:Arial;font-size:9.5pt;font-style:italic;">vanguard.com/performance</span> <span style="font-family:Arial;font-size:8pt;font-weight:bold;">Annual Total Returns — Vanguard Mid-Cap Value Index Fund Admiral Shares</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">During the periods shown in the bar chart, the highest and lowest returns for a calendar quarter were:</span> <span style="color:#000000;font-family:Arial;font-size:8pt;margin-left:0.0pt;">Highest</span> 0.1865 2020-06-30 <span style="color:#000000;font-family:Arial;font-size:8pt;margin-left:0.0pt;">Lowest</span> -0.3136 2020-03-31 <span style="font-family:Arial;font-size:8.5pt;font-weight:bold;">Average Annual Total Returns for Periods Ended December 31, 2025</span> 0.1205 0.1071 0.0994 0.1146 0.1011 0.0933 0.0750 0.0840 0.0800 0.1211 0.1076 0.0997 0.1705 0.1307 0.1421 <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Actual after-tax returns depend on your tax situation and may differ from those shown in the preceding table. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">When after-tax returns are calculated, it is </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">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. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">Please note that after-tax returns are </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">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. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">Also, figures captioned </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:italic;">Return </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:italic;">After Taxes on Distributions and Sale of Fund Shares</span><span style="color:#000000;font-family:Arial;font-size:9.5pt;"> 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.</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">When after-tax returns are calculated, it is </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">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. </span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">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. </span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Also, figures captioned </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:italic;">Return </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:italic;">After Taxes on Distributions and Sale of Fund Shares</span><span style="color:#000000;font-family:Arial;font-size:9.5pt;"> 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.</span> <span style="color:#000000;font-family:Arial;font-size:13pt;font-weight:bold;">Vanguard Mid-Cap Growth Index Fund</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Investment Objective</span> <span style="font-family:Arial;font-size:9.5pt;">Vanguard Mid-Cap Growth Index Fund (the “Fund”) seeks to track the performance of a benchmark index that measures the investment return of mid-capitalization growth stocks.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Fees and Expenses</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">The following tables describe the fees and expenses you may pay if you buy, hold, and sell Admiral Shares of the Fund. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;font-weight:bold;">You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the tables and example below.</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Shareholder Fees</span> <br/><span style="color:#000000;font-family:Arial;font-size:8.5pt;">(Fees paid directly from your investment)</span> 0 0 0 0 25 <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Annual Fund Operating Expenses</span> <br/><span style="color:#000000;font-family:Arial;font-size:8.5pt;">(Expenses that you pay each year as a percentage of the value of your investment)</span> 0.0006 0 0.0001 0.0007 <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Example</span> <span style="font-family:Arial;font-size:9.5pt;">This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other funds. The example assumes that you invest $10,000 in the Fund for</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">the time periods indicated and then redeem all of your shares at the end of those periods. The example also assumes that your investment has a 5%</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">return each year</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">and that the Fund’s operating expenses remain the</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">same.</span> 7 23 40 90 <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Portfolio Turnover</span> <span style="font-family:Arial;font-size:9.5pt;">The Fund pays transaction costs, such as commissions, 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 higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was </span><span style="font-family:Arial;font-size:9.5pt;">17</span><span style="font-family:Arial;font-size:9.5pt;">% of the average value of its portfolio.</span> 0.17 <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Principal Investment Strategies</span> <span style="font-family:Arial;font-size:9.5pt;">The Fund employs an indexing investment approach designed to track the performance of the CRSP US Mid Cap Growth Index (the “Target Index”), a broadly diversified index of growth stocks of mid-size U.S. companies, as determined by the index provider. Under normal circumstances, the Fund invests at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in the stocks that make up the Target Index. The Fund attempts to replicate the Target Index by investing all, or substantially all, of its assets in the stocks that make up the Target Index, holding each stock in approximately the same proportion as its weighting in the Target Index.</span> <span style="font-family:Arial;font-size:9.5pt;">As with any investment, an investment in the Fund could lose money over any time</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">period.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">General Market Risk.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">The markets in which</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">the Fund invests can be affected by a variety of factors. These factors, which can be real or perceived,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">may include</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">economic, market, political,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">and regulatory conditions and developments as well as local,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">regional,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">or global events such as wars, military conflicts, natural disasters, and public health issues. In addition, investor sentiment and expectations regarding these factors can also impact the markets. Different parts of the market, including different industries and sectors as well as different types of securities, may react differently to factors that affect the market. These factors can contribute to market uncertainty, market volatility, and fluctuations in the value of the Fund’s investments, thereby resulting</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">in potential losses to</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">the Fund over short or long</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">periods.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Investing in Equity Markets</span><span style="font-family:Arial;font-size:9.5pt;font-weight:bold;">.</span><span style="font-family:Arial;font-size:9.5pt;"> The Fund invests in the equity markets. Equity markets have historically been cyclical, having periods of time when stock values rise and fall. Market volatility can lead to significant fluctuations in stock values, resulting in potential losses to the Fund.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Market Capitalization</span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">(Market Cap).</span><span style="font-family:Arial;font-size:9.5pt;"> Companies are generally classified into three types of market cap depending on their size: small-, mid-,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">and large-cap.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">Companies can be further classified into micro-</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">or</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">mega-cap. </span><span style="font-family:Arial;font-size:9.5pt;margin-left:0.0pt;">Different factors can affect each market cap uniquely</span><span style="font-family:Arial;font-size:9.5pt;">, and historically small- </span><span style="font-family:Arial;font-size:9.5pt;margin-left:0.0pt;">and </span><span style="font-family:Arial;font-size:9.5pt;">mid-cap stocks have typically been more volatile due to the effects</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">of </span><span style="font-family:Arial;font-size:9.5pt;margin-left:0.0pt;">changing economic conditions.</span><span style="font-family:Arial;font-size:9.5pt;"> Large companies may not reach the same </span><span style="font-family:Arial;font-size:9.5pt;margin-left:0.0pt;">levels of growth or performance as smaller companies</span><span style="font-family:Arial;font-size:9.5pt;">, and they may be </span><span style="font-family:Arial;font-size:9.5pt;margin-left:0.0pt;">slower to react to competitive challenges</span><span style="font-family:Arial;font-size:9.5pt;">. The performance of funds that </span><span style="font-family:Arial;font-size:9.5pt;margin-left:0.0pt;">invest in a subset of market</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">caps could diverge</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">from the performance of a </span><span style="font-family:Arial;font-size:9.5pt;margin-left:0.0pt;">fund that is focused on a broader representation of the stock</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">market.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Growth Investing</span><span style="font-family:Arial;font-size:9.5pt;font-weight:bold;">.</span><span style="font-family:Arial;font-size:9.5pt;"> The Fund’s approach to growth investing could cause it to underperform other stock funds that use a different investment style. Growth stocks typically produce lower yields because growth companies prefer to reinvest earnings into research and development to promote growth and increase profitability. Research and development can be expensive and may not always produce favorable results, which could harm a company’s performance relative to the broader market.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Index Investing</span><span style="font-family:Arial;font-size:9.5pt;font-weight:bold;">.</span><span style="font-family:Arial;font-size:9.5pt;"> The Fund is subject to risks associated with index investing. Because the Fund generally seeks to track the performance of the Target Index regardless of how the Target Index is performing, the Fund’s performance may be lower than it would be if it were actively managed. Although the Fund seeks to hold substantially all of the securities included in the Target Index, it may be unable to do so. In addition, the Fund could be prevented from holding one or more securities in the same proportion as in the Target Index. The performance of the Fund’s investments,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">in the aggregate,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">may not match the investment performance of the Target Index. This risk, known as tracking error risk, may be heightened during times of increased market volatility or under other unusual market conditions. The Fund also could be negatively impacted by changes to the Target Index made by the index provider or by errors made by the index provider. Any gains, losses, or costs associated with or resulting from an error made by the index provider will generally be borne by the Fund and, as a result, the Fund’s shareholders.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Concentration Risk.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">Except as may be necessary to approximate the composition of its Target Index, the Fund will not concentrate its investments in the securities of issuers whose principal business activities are in the same industry or group of industries.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">If the Target Index becomes concentrated and the Fund needs to concentrate in the same industry or group of industries, its performance could be negatively impacted by the industry or industries in which it is</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">concentrated.</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;font-weight:bold;">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.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Annual Total Returns</span> <span style="font-family:Arial;font-size:9.5pt;">The following bar chart and table show the Fund’s historical performance and are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund’s Admiral Shares has varied from one calendar year to another over the periods shown. The table shows how the average annual total returns of the Admiral Shares compare with those of a broad-based securities market index and one or more additional indexes</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">with similar investment characteristics as the Fund.</span><span style="font-family:Arial;font-size:9.5pt;"> Keep in mind that the Fund’s </span><span style="font-family:Arial;font-size:9.5pt;">past performance (before and after taxes) does not indicate how the Fund will perform in the future.</span><span style="font-family:Arial;font-size:9.5pt;"> Updated performance information is available on our </span><span style="font-family:Arial;font-size:9.5pt;">website at </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;">vanguard.com/performance</span><span style="font-family:Arial;font-size:9.5pt;">.</span> <span style="font-family:Arial;font-size:9.5pt;">The following bar chart and table show the Fund’s historical performance and are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund’s Admiral Shares has varied from one calendar year to another over the periods shown. The table shows how the average annual total returns of the Admiral Shares compare with those of a broad-based securities market index and one or more additional indexes</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">with similar investment characteristics as the Fund.</span> <span style="font-family:Arial;font-size:9.5pt;"> Keep in mind that the Fund’s </span><span style="font-family:Arial;font-size:9.5pt;">past performance (before and after taxes) does not indicate how the Fund will perform in the future.</span> <span style="font-family:Arial;font-size:9.5pt;font-style:italic;">vanguard.com/performance</span> <span style="font-family:Arial;font-size:8pt;font-weight:bold;">Annual Total Returns — Vanguard Mid-Cap Growth Index Fund Admiral Shares</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">During the periods shown in the bar chart, the highest and lowest returns for a calendar quarter were:</span> <span style="color:#000000;font-family:Arial;font-size:8pt;margin-left:0.0pt;">Highest</span> 0.3058 2020-06-30 <span style="color:#000000;font-family:Arial;font-size:8pt;margin-left:0.0pt;">Lowest</span> -0.2119 2022-06-30 <span style="font-family:Arial;font-size:8.5pt;font-weight:bold;">Average Annual Total Returns for Periods Ended December 31, 2025</span> 0.1069 0.0635 0.1163 0.1051 0.0617 0.1142 0.0643 0.0493 0.0963 0.1073 0.0639 0.1168 0.1705 0.1307 0.1421 <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Actual after-tax returns depend on your tax situation and may differ from those shown in the preceding table. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">When after-tax returns are calculated, it is </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">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 </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">upon redemption. State and local income taxes are not reflected in the calculations. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">Please note that after-tax returns are </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">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. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">Also, figures captioned </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:italic;">Return After Taxes on Distributions and Sale of Fund Shares</span><span style="color:#000000;font-family:Arial;font-size:9.5pt;"> 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.</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">When after-tax returns are calculated, it is </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">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 </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">upon redemption. State and local income taxes are not reflected in the calculations. </span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">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. </span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Also, figures captioned </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:italic;">Return After Taxes on Distributions and Sale of Fund Shares</span><span style="color:#000000;font-family:Arial;font-size:9.5pt;"> 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.</span> <span style="color:#000000;font-family:Arial;font-size:13pt;font-weight:bold;">Vanguard Extended Market Index Fund</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Investment Objective</span> <span style="font-family:Arial;font-size:9.5pt;">Vanguard Extended Market Index Fund (the “Fund”) seeks to track the performance of a benchmark index that measures the investment return of small- and mid-capitalization stocks.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Fees and Expenses</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">The following tables describe the fees and expenses you may pay if you buy, hold, and sell Institutional Shares or Institutional Plus Shares of the Fund. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;font-weight:bold;">You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the tables and examples below.</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Shareholder Fees</span> <br/><span style="color:#000000;font-family:Arial;font-size:8.5pt;">(Fees paid directly from your investment)</span> 0 0 0 0 0 0 0 0 <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Annual Fund Operating Expenses</span> <br/><span style="color:#000000;font-family:Arial;font-size:8.5pt;">(Expenses that you pay each year as a percentage of the value of your investment)</span> 0.0003 0.00029 0 0 0.0001 0.00006 0.0004 0.00035 <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Examples</span> <span style="font-family:Arial;font-size:9.5pt;">These examples are intended to help you compare the cost of investing in the Fund with the cost of investing in other funds. The examples assume that you invest $10,000 in the Fund for</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">the time periods indicated and then redeem all of your shares at the end of those periods. The examples also assume that your investment has a 5%</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">return each year</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">and that the Fund’s operating expenses remain the</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">same.</span> 4 13 23 51 4 11 20 45 <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Portfolio Turnover</span> <span style="font-family:Arial;font-size:9.5pt;">The Fund pays transaction costs, such as commissions, 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 higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the examples, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was </span><span style="font-family:Arial;font-size:9.5pt;">12</span><span style="font-family:Arial;font-size:9.5pt;">% of the average value of its portfolio.</span> 0.12 <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Principal Investment Strategies</span> <span style="font-family:Arial;font-size:9.5pt;">The Fund employs an indexing investment approach designed to track the performance of the S&amp;P Completion Index (the “Target Index”), a broadly diversified index of stocks of small and mid-size U.S. companies. Under normal circumstances,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">the Fund invests at least</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">80% of its net assets, plus the amount of any</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">borrowings for investment purposes, in the stocks that make up the Target Index. The Fund invests by sampling the Target Index, meaning that it holds a range of securities that, in the aggregate, approximates the full Target Index in terms of key risk</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">factors and other</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">characteristics.</span> <span style="font-family:Arial;font-size:9.5pt;">As with any investment, an investment in the Fund could lose money over any time</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">period.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">General Market Risk.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">The markets in which</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">the Fund invests can be affected by a variety of factors. These factors, which can be real or perceived,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">may include</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">economic, market, political,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">and regulatory conditions and developments as well as local,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">regional,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">or global events such as wars, military conflicts, natural disasters, and public health issues. In addition, investor sentiment and expectations regarding these factors can also impact the markets. Different parts of the market, including different industries and sectors as well as different types of securities, may react differently to factors </span><span style="font-family:Arial;font-size:9.5pt;margin-left:0.0pt;">that affect the market. These factors can contribute to market uncertainty, market volatility, and fluctuations in the value of the </span><span style="font-family:Arial;font-size:9.5pt;">Fund’s investments, thereby resulting</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">in potential losses to the Fund over short or long</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">periods.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Investing in Equity Markets</span><span style="font-family:Arial;font-size:9.5pt;font-weight:bold;">.</span><span style="font-family:Arial;font-size:9.5pt;"> The Fund invests in the equity markets. Equity markets have historically been cyclical, having periods of time when stock values rise and fall. Market volatility can lead to significant fluctuations in stock values, resulting in potential losses to the Fund.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Market Capitalization</span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">(Market</span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Cap).</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">Companies are generally classified into three types of market cap depending on their size: small-,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">mid-,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">and large-cap.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">Companies can be further classified into micro-</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">or</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">mega-cap. Different factors can affect each market cap uniquely, and historically small- and mid-cap stocks have typically been more volatile due to the effects</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">of changing economic conditions. Large companies may not reach the same levels of growth or performance as smaller companies, and they may be slower to react to competitive challenges. The performance of funds that invest in a subset of market caps could</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">diverge from the</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">performance of a fund that is focused on a broader representation of the stock</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">market.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Index Investing</span><span style="font-family:Arial;font-size:9.5pt;font-weight:bold;">.</span><span style="font-family:Arial;font-size:9.5pt;"> The Fund is subject to risks associated with index investing. Because the Fund generally seeks to track the performance of the Target Index regardless of how the Target Index is performing, the Fund’s performance may be lower than it would be if it were actively managed. Additionally,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">because the Fund does not hold all of the securities included in the Target Index, it is subject to the risk that the representative sample of securities selected by the advisor will, in the aggregate, vary from the investment profile of the full Target Index. The performance of the Fund’s investments,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">in the aggregate,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">may not match the investment performance of the Target Index. This risk, known as tracking error risk, may be heightened during times of increased market volatility or under other unusual market conditions. The Fund also could be negatively impacted by changes to the Target Index made by the index provider or by errors made by the index provider. Any gains, losses, or costs associated with or resulting from an error made by the index provider will generally be borne by the Fund and, as a result, the Fund’s shareholders.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Concentration Risk.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">Except</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">as may be necessary to approximate the composition of its Target Index, the Fund will not concentrate its investments in the securities of issuers whose principal business activities are in the same industry or group of industries. If the Target Index becomes concentrated and the Fund</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">needs to concentrate in the same</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">industry or group of industries, its performance could be negatively impacted by the industry or industries</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">in which it is</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">concentrated.</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;font-weight:bold;">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.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Annual Total Returns</span> <span style="font-family:Arial;font-size:9.5pt;">The following bar chart and table show the Fund’s historical performance and are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund’s Institutional Shares has varied from one calendar year to another over the periods shown. The table shows how the average annual total returns of the share classes presented compare with those of a broad-based securities market index and one or more</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">additional indexes with similar investment characteristics as the Fund.</span><span style="font-family:Arial;font-size:9.5pt;"> Keep in mind that </span><span style="font-family:Arial;font-size:9.5pt;">the Fund’s past performance (before and after taxes) does not indicate how the Fund will perform in the future.</span><span style="font-family:Arial;font-size:9.5pt;"> Updated performance information is available on </span><span style="font-family:Arial;font-size:9.5pt;">our website at </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;">vanguard.com/performance</span><span style="font-family:Arial;font-size:9.5pt;">.</span> <span style="font-family:Arial;font-size:9.5pt;">The following bar chart and table show the Fund’s historical performance and are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund’s Institutional Shares has varied from one calendar year to another over the periods shown. The table shows how the average annual total returns of the share classes presented compare with those of a broad-based securities market index and one or more</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">additional indexes with similar investment characteristics as the Fund.</span> <span style="font-family:Arial;font-size:9.5pt;"> Keep in mind that </span><span style="font-family:Arial;font-size:9.5pt;">the Fund’s past performance (before and after taxes) does not indicate how the Fund will perform in the future.</span> <span style="font-family:Arial;font-size:9.5pt;font-style:italic;">vanguard.com/performance</span> <span style="font-family:Arial;font-size:8pt;font-weight:bold;">Annual Total Returns — Vanguard Extended Market Index Fund Institutional Shares</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">During the periods shown in the bar chart, the highest and lowest returns for a calendar quarter were:</span> <span style="color:#000000;font-family:Arial;font-size:8pt;margin-left:0.0pt;">Highest</span> 0.3115 2020-06-30 <span style="color:#000000;font-family:Arial;font-size:8pt;margin-left:0.0pt;">Lowest</span> -0.2799 2020-03-31 <span style="font-family:Arial;font-size:8.5pt;font-weight:bold;">Average Annual Total Returns for Periods Ended December 31, 2025</span> 0.1142 0.0620 0.1102 0.1106 0.0586 0.1061 0.0692 0.0476 0.0899 0.1142 0.0621 0.1103 0.1132 0.0606 0.1089 0.1705 0.1307 0.1421 <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Actual after-tax returns depend on your tax situation and may differ from those shown in the preceding table. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">When after-tax returns are calculated, it is </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">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. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">Please note that after-tax returns are shown only for the </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">Institutional Shares and may differ for each share class. After-tax returns are </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">not </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">Also, figures </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">captioned </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:italic;">Return After Taxes on Distributions and Sale of Fund Shares</span><span style="color:#000000;font-family:Arial;font-size:9.5pt;"> 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.</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">When after-tax returns are calculated, it is </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">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. </span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">not </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. </span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Also, figures </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">captioned </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:italic;">Return After Taxes on Distributions and Sale of Fund Shares</span><span style="color:#000000;font-family:Arial;font-size:9.5pt;"> 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.</span> <span style="color:#000000;font-family:Arial;font-size:13pt;font-weight:bold;">Vanguard Mid-Cap Index Fund</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Investment Objective</span> <span style="font-family:Arial;font-size:9.5pt;">Vanguard Mid-Cap Index Fund (the “Fund”) seeks to track the performance of a benchmark index that measures the investment return of mid-capitalization stocks.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Fees and Expenses</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">The following tables describe the fees and expenses you may pay if you buy, hold, and sell Institutional Shares or Institutional Plus Shares of the Fund. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;font-weight:bold;">You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the tables and examples below.</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Shareholder Fees</span> <br/><span style="color:#000000;font-family:Arial;font-size:8.5pt;">(Fees paid directly from your investment)</span> 0 0 0 0 0 0 0 0 <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Annual Fund Operating Expenses</span> <br/><span style="color:#000000;font-family:Arial;font-size:8.5pt;">(Expenses that you pay each year as a percentage of the value of your investment)</span> 0.0003 0.0002 0 0 0.0000 0.0000 0.0003 0.0002 <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Examples</span> <span style="font-family:Arial;font-size:9.5pt;">These examples are intended to help you compare the cost of investing in the Fund with the cost of investing in other funds. The examples assume that you invest $10,000 in the Fund for</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">the time periods indicated and then redeem all of your shares at the end of those periods. The examples also assume that your investment has a 5%</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">return each year</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">and that the Fund’s operating expenses remain the</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">same.</span> 3 10 17 39 2 6 11 26 <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Portfolio Turnover</span> <span style="font-family:Arial;font-size:9.5pt;">The Fund pays transaction costs, such as commissions, 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 higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the examples, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was </span><span style="font-family:Arial;font-size:9.5pt;">16</span><span style="font-family:Arial;font-size:9.5pt;">% of the average value of its portfolio.</span> 0.16 <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Principal Investment Strategies</span> <span style="font-family:Arial;font-size:9.5pt;">The Fund employs an indexing investment approach designed to track the performance of the CRSP US Mid Cap Index (the “Target Index”), a broadly diversified index of stocks of mid-size U.S. companies, as determined by the index provider. Under normal circumstances, the Fund invests at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in the stocks that make up the Target Index. The Fund attempts to replicate the Target Index by investing all, or substantially all, of its assets in the stocks that make up the Target Index, holding each stock in approximately the same proportion as its weighting in the Target Index.</span> <span style="font-family:Arial;font-size:9.5pt;">As with any investment, an investment in the Fund could lose money over any time</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">period.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">General Market Risk.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">The markets in which</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">the Fund invests can be affected by a variety of factors. These factors, which can be real or perceived,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">may include</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">economic, market, political,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">and regulatory conditions and developments as well as local,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">regional,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">or global events such as wars, military conflicts, natural disasters, and public health issues. In addition, investor sentiment and expectations regarding these factors can also impact the markets. Different parts of the market, including different industries and </span><span style="font-family:Arial;font-size:9.5pt;margin-left:0.0pt;">sectors as well as different types of securities, may react differently to factors that affect the market. These factors can contribute to market uncertainty, market volatility, and fluctuations in the value of the </span><span style="font-family:Arial;font-size:9.5pt;">Fund’s investments, thereby resulting</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">in potential losses to the Fund over short or long</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">periods.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Investing in Equity Markets</span><span style="font-family:Arial;font-size:9.5pt;font-weight:bold;">.</span><span style="font-family:Arial;font-size:9.5pt;"> The Fund invests in the equity markets. Equity markets have historically been cyclical, having periods of time when stock values rise and fall. Market volatility can lead to significant fluctuations in stock values, resulting in potential losses to the Fund.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Market Capitalization</span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">(Market Cap).</span><span style="font-family:Arial;font-size:9.5pt;"> Companies are generally classified into three types of market cap depending on their size: small-, mid-,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">and large-cap.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">Companies can be further classified into micro-</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">or mega-cap. Different factors can affect each market cap uniquely, and historically small- and mid-cap stocks have typically been more volatile due to the effects</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">of changing economic conditions. Large companies may not reach the same levels of growth or performance as smaller companies, and they may be slower to react to competitive challenges. The performance of funds that invest in a subset of market</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">caps could diverge</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">from the performance of a fund that is focused on a broader representation of the stock</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">market.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Index Investing</span><span style="font-family:Arial;font-size:9.5pt;font-weight:bold;">.</span><span style="font-family:Arial;font-size:9.5pt;"> The Fund is subject to risks associated with index investing. Because the Fund generally seeks to track the performance of the Target Index regardless of how the Target Index is performing, the Fund’s performance may be lower than it would be if it were actively managed. Although the Fund seeks to hold substantially all of the securities included in the Target Index, it may be unable to do so. In addition, the Fund could be prevented from holding one or more securities in the same proportion as in the Target Index. The performance of the Fund’s investments,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">in the aggregate,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">may not match the investment performance of the Target Index. This risk, known as tracking error risk, may be heightened during times of increased market volatility or under other unusual market conditions. The Fund also could be negatively impacted by changes to the Target Index made by the index provider or by errors made by the index provider. Any gains, losses, or costs associated with or resulting from an error made by the index provider will generally be borne by the Fund and, as a result, the Fund’s shareholders.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Concentration Risk.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">Except as may be necessary to approximate the composition of its Target Index, the Fund will not concentrate its investments in the securities of issuers whose principal business activities are in the same industry or group of industries.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">If the Target Index becomes concentrated and the Fund needs to concentrate in the same industry or group of industries, its performance could be negatively impacted by the industry or industries in which it is</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">concentrated.</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;font-weight:bold;">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.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Annual Total Returns</span> <span style="font-family:Arial;font-size:9.5pt;">The following bar chart and table show the Fund’s historical performance and are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund’s Institutional Shares has varied from one calendar year to another over the periods shown. The table shows how the average annual total returns of the share classes presented compare with those of a broad-based securities market index and one or more additional indexes</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">with similar investment characteristics as the Fund.</span><span style="font-family:Arial;font-size:9.5pt;"> Keep in mind that </span><span style="font-family:Arial;font-size:9.5pt;">the Fund’s past performance (before and after taxes) does not indicate how the Fund will perform in the future.</span><span style="font-family:Arial;font-size:9.5pt;"> Updated performance information is available on </span><span style="font-family:Arial;font-size:9.5pt;">our website at </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;">vanguard.com/performance</span><span style="font-family:Arial;font-size:9.5pt;">.</span> <span style="font-family:Arial;font-size:9.5pt;">The following bar chart and table show the Fund’s historical performance and are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund’s Institutional Shares has varied from one calendar year to another over the periods shown. The table shows how the average annual total returns of the share classes presented compare with those of a broad-based securities market index and one or more additional indexes</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">with similar investment characteristics as the Fund.</span> <span style="font-family:Arial;font-size:9.5pt;"> Keep in mind that </span><span style="font-family:Arial;font-size:9.5pt;">the Fund’s past performance (before and after taxes) does not indicate how the Fund will perform in the future.</span> <span style="font-family:Arial;font-size:9.5pt;font-style:italic;">vanguard.com/performance</span> <span style="font-family:Arial;font-size:8pt;font-weight:bold;">Annual Total Returns — Vanguard Mid-Cap Index Fund Institutional Shares</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">During the periods shown in the bar chart, the highest and lowest returns for a calendar quarter were:</span> <span style="color:#000000;font-family:Arial;font-size:8pt;margin-left:0.0pt;">Highest</span> 0.2496 2020-06-30 <span style="color:#000000;font-family:Arial;font-size:8pt;margin-left:0.0pt;">Lowest</span> -0.2571 2020-03-31 <span style="font-family:Arial;font-size:8.5pt;font-weight:bold;">Average Annual Total Returns for Periods Ended December 31, 2025</span> 0.1167 0.0861 0.1092 0.1123 0.0819 0.1048 0.0717 0.0671 0.0892 0.1169 0.0862 0.1094 0.1170 0.0862 0.1094 0.1705 0.1307 0.1421 <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Actual after-tax returns depend on your tax situation and may differ from those shown in the preceding table. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">When after-tax returns are calculated, it is </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">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. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">Please note that after-tax returns are shown only for the </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">Institutional Shares and may differ for each share class. After-tax returns are </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">not </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">Also, figures </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">captioned </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:italic;">Return After Taxes on Distributions and Sale of Fund Shares</span><span style="color:#000000;font-family:Arial;font-size:9.5pt;"> 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.</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">When after-tax returns are calculated, it is </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">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. </span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">not </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. </span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Also, figures </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">captioned </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:italic;">Return After Taxes on Distributions and Sale of Fund Shares</span><span style="color:#000000;font-family:Arial;font-size:9.5pt;"> 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.</span> <span style="color:#000000;font-family:Arial;font-size:13pt;font-weight:bold;">Vanguard Small-Cap Index Fund</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Investment Objective</span> <span style="font-family:Arial;font-size:9.5pt;">Vanguard Small-Cap Index Fund (the “Fund”) seeks to track the performance of a benchmark index that measures the investment return of </span> <br/><span style="font-family:Arial;font-size:9.5pt;">small-capitalization stocks.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Fees and Expenses</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">The following tables describe the fees and expenses you may pay if you buy, hold, and sell Investor Shares of the Fund. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;font-weight:bold;">You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the tables and example below.</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Shareholder Fees</span> <br/><span style="color:#000000;font-family:Arial;font-size:8.5pt;">(Fees paid directly from your investment)</span> 0 0 0 0 25 <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Annual Fund Operating Expenses</span> <br/><span style="color:#000000;font-family:Arial;font-size:8.5pt;">(Expenses that you pay each year as a percentage of the value of your investment)</span> 0.0016 0 0.0001 0.0017 <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Example</span> <span style="font-family:Arial;font-size:9.5pt;">This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other funds. The example assumes that you invest $10,000 in the Fund for</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">the time periods indicated and then redeem all of your shares at the end of those periods. The example also assumes that your investment has a 5%</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">return each year</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">and that the Fund’s operating expenses remain the</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">same.</span> 17 55 96 217 <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Portfolio Turnover</span> <span style="font-family:Arial;font-size:9.5pt;">The Fund pays transaction costs, such as commissions, 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 higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was </span><span style="font-family:Arial;font-size:9.5pt;">17</span><span style="font-family:Arial;font-size:9.5pt;">% of the average value of its portfolio.</span> 0.17 <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Principal Investment Strategies</span> <span style="font-family:Arial;font-size:9.5pt;">The Fund employs an indexing investment approach designed to track the performance of the CRSP US Small Cap Index (the “Target Index”), a broadly diversified index of stocks of small U.S. companies, as determined by the index provider. Under normal circumstances, the Fund invests at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in the stocks that make up the Target Index. The Fund attempts to replicate the Target Index by investing all, or substantially all, of its assets in the stocks that make up the Target Index, holding each stock in approximately the same proportion as its weighting in the Target Index.</span> <span style="font-family:Arial;font-size:9.5pt;">As with any investment, an investment in the Fund could lose money over any time</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">period.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">General Market Risk.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">The markets in which</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">the Fund invests can be affected by a variety of factors. These factors, which can be real or perceived,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">may include</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">economic, market, political,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">and regulatory conditions and developments as well as local,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">regional,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">or global events such as wars, military conflicts, natural disasters, and public health issues. In addition, investor sentiment and expectations regarding these factors can also impact the markets. Different parts of the market, including different industries and sectors as well as different types of securities, may react differently to factors that affect the market. These factors can contribute to market uncertainty, market volatility, and fluctuations in the value of the Fund’s investments, thereby resulting</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">in potential losses to</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">the Fund over short or long</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">periods.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Investing in Equity Markets</span><span style="font-family:Arial;font-size:9.5pt;font-weight:bold;">.</span><span style="font-family:Arial;font-size:9.5pt;"> The Fund invests in the equity markets. Equity markets have historically been cyclical, having periods of time when stock values rise and fall. Market volatility can lead to significant fluctuations in stock values, resulting in potential losses to the Fund.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Market Capitalization</span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">(Market</span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Cap).</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">Companies are generally classified into three types of market cap depending on their size:</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">small-,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">mid-,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">and large-cap.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">Companies can be further classified into micro- or mega-cap. </span><span style="font-family:Arial;font-size:9.5pt;margin-left:0.0pt;">Different factors can affect each market cap uniquely, and historically small- and mid-</span><span style="font-family:Arial;font-size:9.5pt;">cap stocks have typically been more volatile due to the effects of </span><span style="font-family:Arial;font-size:9.5pt;margin-left:0.0pt;">changing economic conditions. Large companies may not reach the same levels of growth or performance as smaller companies</span><span style="font-family:Arial;font-size:9.5pt;">, and they may be </span><span style="font-family:Arial;font-size:9.5pt;margin-left:0.0pt;">slower to react to competitive challenges</span><span style="font-family:Arial;font-size:9.5pt;">. The performance of funds that </span><span style="font-family:Arial;font-size:9.5pt;margin-left:0.0pt;">invest in a subset of market</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">caps could diverge</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">from the performance of a </span><span style="font-family:Arial;font-size:9.5pt;margin-left:0.0pt;">fund that is focused on a broader representation of the stock</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">market.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Index Investing</span><span style="font-family:Arial;font-size:9.5pt;font-weight:bold;">.</span><span style="font-family:Arial;font-size:9.5pt;"> The Fund is subject to risks associated with index investing. Because the Fund generally seeks to track the performance of the Target Index regardless of how the Target Index is performing, the Fund’s performance may be lower than it would be if it were actively managed. Although the Fund seeks to hold substantially all of the securities included in the Target Index, it may be unable to do so. In addition, the Fund could be prevented from holding one or more securities in the same proportion as in the Target Index. The performance of the Fund’s investments,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">in the aggregate,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">may not match the investment performance of the Target Index. This risk, known as tracking error risk, may be heightened during times of increased market volatility or under other unusual market conditions. The Fund also could be negatively impacted by changes to the Target Index made by the index provider or by errors made by the index provider. Any gains, losses, or costs associated with or resulting from an error made by the index provider will generally be borne by the Fund and, as a result, the Fund’s shareholders.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Concentration Risk.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">Except as may be necessary to approximate the composition of its Target Index, the Fund will not concentrate its investments in the securities of issuers whose principal business activities are in the same industry or group of industries.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">If the Target Index becomes concentrated and the Fund needs to concentrate in the same industry or group of industries, its performance could be negatively impacted by the industry or industries in which it is</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">concentrated.</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;font-weight:bold;">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.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Annual Total Returns</span> <span style="font-family:Arial;font-size:9.5pt;">The following bar chart and table show the Fund’s historical performance and are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund’s Investor Shares has varied from one calendar year to another over the periods shown. The table shows how the average annual total returns of the Investor Shares compare with those of a broad-based securities market index and one or more additional indexes with similar investment characteristics as the Fund.</span><span style="font-family:Arial;font-size:9.5pt;"> Keep in mind that the </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">Fund’s past performance (before and after taxes) does not indicate how the Fund will perform in the future.</span><span style="color:#000000;font-family:Arial;font-size:9.5pt;"> Updated performance information is available on </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">our website at </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:italic;">vanguard.com/performance</span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">.</span> <span style="font-family:Arial;font-size:9.5pt;">The following bar chart and table show the Fund’s historical performance and are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund’s Investor Shares has varied from one calendar year to another over the periods shown. The table shows how the average annual total returns of the Investor Shares compare with those of a broad-based securities market index and one or more additional indexes with similar investment characteristics as the Fund.</span> <span style="font-family:Arial;font-size:9.5pt;"> Keep in mind that the </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">Fund’s past performance (before and after taxes) does not indicate how the Fund will perform in the future.</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:italic;">vanguard.com/performance</span> <span style="font-family:Arial;font-size:8pt;font-weight:bold;">Annual Total Returns — Vanguard Small-Cap Index Fund Investor Shares</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">During the periods shown in the bar chart, the highest and lowest returns for a calendar quarter were:</span> <span style="color:#000000;font-family:Arial;font-size:8pt;margin-left:0.0pt;">Highest</span> 0.2705 2020-12-31 <span style="color:#000000;font-family:Arial;font-size:8pt;margin-left:0.0pt;">Lowest</span> -0.3010 2020-03-31 <span style="font-family:Arial;font-size:8.5pt;font-weight:bold;">Average Annual Total Returns for Periods Ended December 31, 2025</span> 0.0870 0.0722 0.1030 0.0834 0.0684 0.0989 0.0533 0.0558 0.0837 0.0882 0.0731 0.1040 0.1705 0.1307 0.1421 <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Actual after-tax returns depend on your tax situation and may differ from those shown in the preceding table. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">When after-tax returns are calculated, it is </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">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. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">Please note that after-tax returns are not relevant for a </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">Also, figures captioned </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:italic;">Return After Taxes on Distributions and Sale of Fund Shares</span><span style="color:#000000;font-family:Arial;font-size:9.5pt;"> 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.</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">When after-tax returns are calculated, it is </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">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. </span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Please note that after-tax returns are not relevant for a </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. </span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Also, figures captioned </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:italic;">Return After Taxes on Distributions and Sale of Fund Shares</span><span style="color:#000000;font-family:Arial;font-size:9.5pt;"> 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.</span> <span style="color:#000000;font-family:Arial;font-size:13pt;font-weight:bold;">Vanguard Small-Cap Value Index Fund</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Investment Objective</span> <span style="font-family:Arial;font-size:9.5pt;">Vanguard Small-Cap Value Index Fund (the “Fund”) seeks to track the performance of a benchmark index that measures the investment return of small-capitalization value stocks.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Fees and Expenses</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">The following tables describe the fees and expenses you may pay if you buy, hold, and sell Investor Shares of the Fund. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;font-weight:bold;">You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the tables and example below.</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Shareholder Fees</span> <br/><span style="color:#000000;font-family:Arial;font-size:8.5pt;">(Fees paid directly from your investment)</span> 0 0 0 0 25 <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Annual Fund Operating Expenses</span> <br/><span style="color:#000000;font-family:Arial;font-size:8.5pt;">(Expenses that you pay each year as a percentage of the value of your investment)</span> 0.0018 0 0.0001 0.0019 <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Example</span> <span style="font-family:Arial;font-size:9.5pt;">This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other funds. The example assumes that you invest $10,000 in the Fund for</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">the time periods indicated and then redeem all of your shares at the end of those periods. The example also assumes that your investment has a 5%</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">return each year</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">and that the Fund’s operating expenses remain the</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">same.</span> 19 61 107 243 <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Portfolio Turnover</span> <span style="font-family:Arial;font-size:9.5pt;">The Fund pays transaction costs, such as commissions, 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 higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was </span><span style="font-family:Arial;font-size:9.5pt;">25</span><span style="font-family:Arial;font-size:9.5pt;">% of the average value of its portfolio.</span> 0.25 <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Principal Investment Strategies</span> <span style="font-family:Arial;font-size:9.5pt;">The Fund employs an indexing investment approach designed to track the performance of the CRSP US Small Cap Value Index (the “Target Index”), a broadly diversified index of value stocks of small U.S. companies, as determined by the index provider. Under normal circumstances, the Fund invests at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in the stocks that make up the Target Index. The Fund attempts to replicate the Target Index by investing all, or substantially all, of its assets in the stocks that make up the Target Index, holding each stock in approximately the same proportion as its weighting in the Target Index.</span> <span style="font-family:Arial;font-size:9.5pt;">As with any investment, an investment in the Fund could lose money over any time</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">period.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">General Market Risk.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">The markets in which</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">the Fund invests can be affected by a variety of factors. These factors, which can be real or perceived,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">may include</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">economic, market, political,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">and regulatory conditions and developments as well as local,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">regional,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">or global events such as wars, military conflicts, natural disasters, and public health issues. In addition, investor sentiment and expectations regarding these factors can also impact the markets. Different parts of the market, including different industries and sectors as well as different types of securities, may react differently to factors that affect the market. These factors can contribute to market uncertainty, market volatility, and fluctuations in the value of the Fund’s investments, thereby resulting</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">in potential losses to the Fund over short or long</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">periods.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Investing in Equity Markets</span><span style="font-family:Arial;font-size:9.5pt;font-weight:bold;">.</span><span style="font-family:Arial;font-size:9.5pt;"> The Fund invests in the equity markets. Equity markets have historically been cyclical, having periods of time when stock values rise and fall. Market volatility can lead to significant fluctuations in stock values, resulting in potential losses to the Fund.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Market Capitalization</span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">(Market</span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Cap).</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">Companies are generally classified into three types of market cap depending on their size:</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">small-,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">mid-,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">and large-cap.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">Companies can be further classified into micro- or mega-cap. </span><span style="font-family:Arial;font-size:9.5pt;margin-left:0.0pt;">Different factors can affect each market cap uniquely, and historically small- and mid-</span><span style="font-family:Arial;font-size:9.5pt;">cap stocks have typically been more volatile due to the effects of </span><span style="font-family:Arial;font-size:9.5pt;margin-left:0.0pt;">changing economic conditions. Large companies may not reach the same levels of growth or performance as smaller companies</span><span style="font-family:Arial;font-size:9.5pt;">, and they may be </span><span style="font-family:Arial;font-size:9.5pt;margin-left:0.0pt;">slower to react to competitive challenges</span><span style="font-family:Arial;font-size:9.5pt;">. The performance of funds that </span><span style="font-family:Arial;font-size:9.5pt;margin-left:0.0pt;">invest in a subset of market</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">caps could diverge</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">from the performance of a </span><span style="font-family:Arial;font-size:9.5pt;margin-left:0.0pt;">fund that is focused on a broader representation of the stock</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">market.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Value Investing</span><span style="font-family:Arial;font-size:9.5pt;font-weight:bold;">.</span><span style="font-family:Arial;font-size:9.5pt;"> The Fund’s approach to value investing could cause it to underperform other stock funds that use a different investment style. The Fund’s investments in value stocks are subject to the risk that the stocks’ valuations do not improve at the anticipated rate or that their returns do not move in tandem with the returns of other investment styles or the broader stock market.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Index Investing</span><span style="font-family:Arial;font-size:9.5pt;font-weight:bold;">.</span><span style="font-family:Arial;font-size:9.5pt;"> The Fund is subject to risks associated with index investing. Because the Fund generally seeks to track the performance of the Target Index regardless of how the Target Index is performing, the Fund’s performance may be lower than it would be if it were actively managed. Although the Fund seeks to hold substantially all of the securities included in the Target Index, it may be unable to do so. In addition, the Fund could be prevented from holding one or more securities in the same proportion as in the Target Index. The performance of the Fund’s investments,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">in the aggregate,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">may not match the investment performance of the Target Index. This risk, known as tracking error risk, may be heightened during times of increased market volatility or under other unusual market conditions. The Fund also could be negatively impacted by changes to the Target Index made by the index provider or by errors made by the index provider. Any gains, losses, or costs associated with or resulting from an error made by the index provider will generally be borne by the Fund and, as a result, the Fund’s shareholders.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Concentration Risk.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">Except as may be necessary to approximate the composition of its Target Index, the Fund will not concentrate its investments in the securities of issuers whose principal business activities are in the same industry or group of industries.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">If the Target Index becomes concentrated and the Fund needs to concentrate in the same industry or group of industries, its performance could be negatively impacted by the industry or industries in which it is</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">concentrated.</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;font-weight:bold;">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.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Annual Total Returns</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">The following bar chart and table show the Fund’s historical performance and are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund’s Investor Shares has varied </span><span style="font-family:Arial;font-size:9.5pt;">from one calendar year to another over the periods shown. The table shows how the average annual total returns of the Investor Shares compare with those of a broad-based securities market index and one or more additional indexes with similar investment characteristics as the Fund.</span><span style="font-family:Arial;font-size:9.5pt;"> Keep in mind that the </span><span style="font-family:Arial;font-size:9.5pt;">Fund’s past performance (before and after taxes) does not indicate how the Fund will perform in the future.</span><span style="font-family:Arial;font-size:9.5pt;"> Updated performance information is available on </span><span style="font-family:Arial;font-size:9.5pt;">our website at </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;">vanguard.com/performance</span><span style="font-family:Arial;font-size:9.5pt;">.</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">The following bar chart and table show the Fund’s historical performance and are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund’s Investor Shares has varied </span><span style="font-family:Arial;font-size:9.5pt;">from one calendar year to another over the periods shown. The table shows how the average annual total returns of the Investor Shares compare with those of a broad-based securities market index and one or more additional indexes with similar investment characteristics as the Fund.</span> <span style="font-family:Arial;font-size:9.5pt;"> Keep in mind that the </span><span style="font-family:Arial;font-size:9.5pt;">Fund’s past performance (before and after taxes) does not indicate how the Fund will perform in the future.</span> <span style="font-family:Arial;font-size:9.5pt;font-style:italic;">vanguard.com/performance</span> <span style="font-family:Arial;font-size:8pt;font-weight:bold;">Annual Total Returns — Vanguard Small-Cap Value Index Fund Investor Shares</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">During the periods shown in the bar chart, the highest and lowest returns for a calendar quarter were:</span> <span style="color:#000000;font-family:Arial;font-size:8pt;margin-left:0.0pt;">Highest</span> 0.2931 2020-12-31 <span style="color:#000000;font-family:Arial;font-size:8pt;margin-left:0.0pt;">Lowest</span> -0.3489 2020-03-31 <span style="font-family:Arial;font-size:8.5pt;font-weight:bold;">Average Annual Total Returns for Periods Ended December 31, 2025</span> 0.0894 0.1043 0.1001 0.0839 0.0987 0.0944 0.0556 0.0815 0.0806 0.0911 0.1058 0.1015 0.1705 0.1307 0.1421 <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Actual after-tax returns depend on your tax situation and may differ from those shown in the preceding table. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">When after-tax returns are calculated, it is </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">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. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">Please note that after-tax returns are not relevant for a </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">Also, figures captioned </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:italic;">Return </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:italic;">After Taxes on Distributions and Sale of Fund Shares</span><span style="color:#000000;font-family:Arial;font-size:9.5pt;"> 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.</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">When after-tax returns are calculated, it is </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">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. </span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Please note that after-tax returns are not relevant for a </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. </span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Also, figures captioned </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:italic;">Return </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:italic;">After Taxes on Distributions and Sale of Fund Shares</span><span style="color:#000000;font-family:Arial;font-size:9.5pt;"> 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.</span> <span style="color:#000000;font-family:Arial;font-size:13pt;font-weight:bold;">Vanguard Small-Cap Growth Index Fund</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Investment Objective</span> <span style="font-family:Arial;font-size:9.5pt;">Vanguard Small-Cap Growth Index Fund (the “Fund”) seeks to track the performance of a benchmark index that measures the investment return of small-capitalization growth stocks.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Fees and Expenses</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">The following tables describe the fees and expenses you may pay if you buy, hold, and sell Investor Shares of the Fund. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;font-weight:bold;">You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the tables and example below.</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Shareholder Fees</span> <br/><span style="color:#000000;font-family:Arial;font-size:8.5pt;">(Fees paid directly from your investment)</span> 0 0 0 0 25 <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Annual Fund Operating Expenses</span> <br/><span style="color:#000000;font-family:Arial;font-size:8.5pt;">(Expenses that you pay each year as a percentage of the value of your investment)</span> 0.0018 0 0.0001 0.0019 <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Example</span> <span style="font-family:Arial;font-size:9.5pt;">This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other funds. The example assumes that you invest $10,000 in the Fund for</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">the time periods indicated and then redeem all of your shares at the end of those periods. The example also assumes that your investment has a 5%</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">return each year</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">and that the Fund’s operating expenses remain the</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">same.</span> 19 61 107 243 <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Portfolio Turnover</span> <span style="font-family:Arial;font-size:9.5pt;">The Fund pays transaction costs, such as commissions, 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 higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was </span><span style="font-family:Arial;font-size:9.5pt;">24</span><span style="font-family:Arial;font-size:9.5pt;">% of the average value of its portfolio.</span> 0.24 <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Principal Investment Strategies</span> <span style="font-family:Arial;font-size:9.5pt;">The Fund employs an indexing investment approach designed to track the performance of the CRSP US Small Cap Growth Index (the “Target Index”), a broadly diversified index of growth stocks of small U.S. companies, as determined by the index provider. Under normal circumstances, the Fund invests at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in the stocks that make up the Target Index. The Fund attempts to replicate the Target Index by investing all, or substantially all, of its assets in the stocks that make up the Target Index, holding each stock in approximately the same proportion as its weighting in the Target Index.</span> <span style="font-family:Arial;font-size:9.5pt;">As with any investment, an investment in the Fund could lose money over any time</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">period.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">General Market Risk.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">The markets in which</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">the Fund invests can be affected by a variety of factors. These factors, which can be real or perceived,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">may include</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">economic, market, political,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">and regulatory conditions and developments as well as local,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">regional,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">or global events such as wars, military conflicts, natural disasters, and public health issues. In addition, investor sentiment and expectations regarding these factors can also impact the markets. Different parts of the market, including different industries and sectors as well as different types of securities, may react differently to factors that affect the market. These factors can contribute to market uncertainty, market volatility, and fluctuations in the value of the Fund’s investments, thereby resulting</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">in potential losses to the Fund over short or long</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">periods.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Investing in Equity Markets</span><span style="font-family:Arial;font-size:9.5pt;font-weight:bold;">.</span><span style="font-family:Arial;font-size:9.5pt;"> The Fund invests in the equity markets. Equity markets have historically been cyclical, having periods of time when stock values rise and fall. Market volatility can lead to significant fluctuations in stock values, resulting in potential losses to the Fund.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Market Capitalization (Market Cap).</span><span style="font-family:Arial;font-size:9.5pt;"> Companies are generally classified into three types of market cap depending on their size: small-, mid-, and large-cap. Companies can be further classified into micro- or mega-cap. </span><span style="font-family:Arial;font-size:9.5pt;margin-left:0.0pt;">Different factors can affect each market cap uniquely, and historically small- and mid-cap stocks have typically been more volatile due to the effects of changing economic conditions. Large companies may not reach the same levels of growth or performance as smaller companies, and they may be slower to react to competitive challenges. The performance of funds that invest in a subset of market caps could diverge from the performance of a fund that is focused on a broader representation of the stock market.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Growth Investing</span><span style="font-family:Arial;font-size:9.5pt;font-weight:bold;">.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">The</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">Fund’s approach to growth investing could cause it to underperform other stock funds that use a different investment style. Growth stocks typically produce lower yields because growth companies prefer to reinvest earnings into research and development to promote growth and increase profitability. Research and development can be expensive and may not always produce favorable results, which could harm</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">a company’s performance relative to the broader</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">market.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Index Investing</span><span style="font-family:Arial;font-size:9.5pt;font-weight:bold;">.</span><span style="font-family:Arial;font-size:9.5pt;"> The Fund is subject to risks associated with index investing. Because the Fund generally seeks to track the performance of the Target Index regardless of how the Target Index is performing, the Fund’s performance may be lower than it would be if it were actively managed. Although the Fund seeks to hold substantially all of the securities included in the Target Index, it may be unable to do so. In addition, the Fund could be prevented from holding one or more securities in the same proportion as in the Target Index. The performance of the Fund’s investments,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">in the aggregate,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">may not match the investment performance of the Target Index. This risk, known as tracking error risk, may be heightened during times of increased market volatility or under other unusual market conditions. The Fund also could be negatively impacted by changes to the Target Index made by the index provider or by errors made by the index provider. Any gains, losses, or costs associated with or resulting from an error made by the index provider will generally be borne by the Fund and, as a result, the Fund’s shareholders.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Concentration Risk.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">Except as may be necessary to approximate the composition of its Target Index, the Fund will not concentrate its investments in the securities of issuers whose principal business activities are in the same industry or group of industries.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">If the Target Index becomes concentrated and the Fund needs to concentrate in the same industry or group of industries, its performance could be negatively impacted by the industry or industries in which it is</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">concentrated.</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;font-weight:bold;">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.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Annual Total Returns</span> <span style="font-family:Arial;font-size:9.5pt;">The following bar chart and table show the Fund’s historical performance and are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund’s Investor Shares has varied from one calendar year to another over the periods shown. The table shows how the average annual total returns of the Investor Shares compare with those of a broad-based securities market index and one or more additional indexes with similar investment characteristics as the Fund.</span><span style="font-family:Arial;font-size:9.5pt;"> Keep in mind that the </span><span style="font-family:Arial;font-size:9.5pt;">Fund’s past performance (before and after taxes) does not indicate how the Fund will perform in the future.</span><span style="font-family:Arial;font-size:9.5pt;"> Updated performance information is available on </span><span style="font-family:Arial;font-size:9.5pt;">our website at </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;">vanguard.com/performance</span><span style="font-family:Arial;font-size:9.5pt;">.</span> <span style="font-family:Arial;font-size:9.5pt;">The following bar chart and table show the Fund’s historical performance and are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund’s Investor Shares has varied from one calendar year to another over the periods shown. The table shows how the average annual total returns of the Investor Shares compare with those of a broad-based securities market index and one or more additional indexes with similar investment characteristics as the Fund.</span> <span style="font-family:Arial;font-size:9.5pt;"> Keep in mind that the </span><span style="font-family:Arial;font-size:9.5pt;">Fund’s past performance (before and after taxes) does not indicate how the Fund will perform in the future.</span> <span style="font-family:Arial;font-size:9.5pt;font-style:italic;">vanguard.com/performance</span> <span style="font-family:Arial;font-size:8pt;font-weight:bold;">Annual Total Returns — Vanguard Small-Cap Growth Index Fund Investor Shares</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">During the periods shown in the bar chart, the highest and lowest returns for a calendar quarter were:</span> <span style="color:#000000;font-family:Arial;font-size:8pt;margin-left:0.0pt;">Highest</span> 0.3289 2020-06-30 <span style="color:#000000;font-family:Arial;font-size:8pt;margin-left:0.0pt;">Lowest</span> -0.2424 2020-03-31 <span style="font-family:Arial;font-size:8.5pt;font-weight:bold;">Average Annual Total Returns for Periods Ended December 31, 2025</span> 0.0830 0.0290 0.1012 0.0817 0.0278 0.0995 0.0498 0.0221 0.0830 0.0844 0.0299 0.1023 0.1705 0.1307 0.1421 <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Actual after-tax returns depend on your tax situation and may differ from those shown in the preceding table. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">When after-tax returns are calculated, it is </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">assumed that the shareholder was in the highest individual federal marginal </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">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. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">Please note that after-tax returns are not relevant for a </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">Also, figures captioned </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:italic;">Return After Taxes on Distributions and Sale of Fund Shares</span><span style="color:#000000;font-family:Arial;font-size:9.5pt;"> 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.</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">When after-tax returns are calculated, it is </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">assumed that the shareholder was in the highest individual federal marginal </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">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. </span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Please note that after-tax returns are not relevant for a </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. </span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Also, figures captioned </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:italic;">Return After Taxes on Distributions and Sale of Fund Shares</span><span style="color:#000000;font-family:Arial;font-size:9.5pt;"> 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.</span> <span style="color:#000000;font-family:Arial;font-size:13pt;font-weight:bold;">Vanguard Small-Cap Index Fund</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Investment Objective</span> <span style="font-family:Arial;font-size:9.5pt;">Vanguard Small-Cap Index Fund (the “Fund”) seeks to track the performance of a benchmark index that measures the investment return of small-capitalization stocks.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Fees and Expenses</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">The following tables describe the fees and expenses you may pay if you buy, hold, and sell Admiral Shares of the Fund. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;font-weight:bold;">You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the tables and example below.</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Shareholder Fees</span> <br/><span style="color:#000000;font-family:Arial;font-size:8.5pt;">(Fees paid directly from your investment)</span> 0 0 0 0 25 <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Annual Fund Operating Expenses</span> <br/><span style="color:#000000;font-family:Arial;font-size:8.5pt;">(Expenses that you pay each year as a percentage of the value of your investment)</span> 0.0004 0 0.0001 0.0005 <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Example</span> <span style="font-family:Arial;font-size:9.5pt;">This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other funds. The example assumes that you invest $10,000 in the Fund for</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">the time periods indicated and then redeem all of your shares at the end of those periods. The example also assumes that your investment has a 5%</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">return each year</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">and that the Fund’s operating expenses remain the</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">same.</span> 5 16 28 64 <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Portfolio Turnover</span> <span style="font-family:Arial;font-size:9.5pt;">The Fund pays transaction costs, such as commissions, 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 higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was </span><span style="font-family:Arial;font-size:9.5pt;">17</span><span style="font-family:Arial;font-size:9.5pt;">% of the average value of its portfolio.</span> 0.17 <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Principal Investment Strategies</span> <span style="font-family:Arial;font-size:9.5pt;">The Fund employs an indexing investment approach designed to track the performance of the CRSP US Small Cap Index (the “Target Index”), a broadly diversified index of stocks of small U.S. companies, as determined by the index provider. Under normal circumstances, the Fund invests at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in the stocks that make up the Target Index. The Fund attempts to replicate the Target Index by investing all, or substantially all, of its assets in the stocks that make up the Target Index, holding each stock in approximately the same proportion as its weighting in the Target Index.</span> <span style="font-family:Arial;font-size:9.5pt;">As with any investment, an investment in the Fund could lose money over any time</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">period.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">General Market Risk.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">The markets in which</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">the Fund invests can be affected by a variety of factors. These factors, which can be real or perceived,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">may include</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">economic, market, political,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">and regulatory conditions and developments as well as local,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">regional,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">or global events such as wars, military conflicts, natural disasters, and public health issues. In addition, investor sentiment and expectations regarding these factors can also impact the markets. Different parts of the market, including different industries and sectors as well as different types of securities, may react differently to factors that affect the market. These factors can contribute to market uncertainty, market volatility, and fluctuations in the value of the Fund’s investments, thereby resulting</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">in potential losses to</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">the Fund over short or long</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">periods.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Investing in Equity Markets</span><span style="font-family:Arial;font-size:9.5pt;font-weight:bold;">.</span><span style="font-family:Arial;font-size:9.5pt;"> The Fund invests in the equity markets. Equity markets have historically been cyclical, having periods of time when stock values rise and fall. Market volatility can lead to significant fluctuations in stock values, resulting in potential losses to the Fund.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Market Capitalization</span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">(Market</span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Cap).</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">Companies are generally classified into three types of market cap depending on their size:</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">small-,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">mid-,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">and large-cap.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">Companies can be further classified into micro- or mega-cap. </span><span style="font-family:Arial;font-size:9.5pt;margin-left:0.0pt;">Different factors can affect each market cap uniquely, and historically small- and mid-</span><span style="font-family:Arial;font-size:9.5pt;">cap stocks have typically been more volatile due to the effects of </span><span style="font-family:Arial;font-size:9.5pt;margin-left:0.0pt;">changing economic conditions. Large companies may not reach the same levels of growth or performance as smaller companies</span><span style="font-family:Arial;font-size:9.5pt;">, and they may be </span><span style="font-family:Arial;font-size:9.5pt;margin-left:0.0pt;">slower to react to competitive challenges</span><span style="font-family:Arial;font-size:9.5pt;">. The performance of funds that </span><span style="font-family:Arial;font-size:9.5pt;margin-left:0.0pt;">invest in a subset of market</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">caps could diverge</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">from the performance of a </span><span style="font-family:Arial;font-size:9.5pt;margin-left:0.0pt;">fund that is focused on a broader representation of the stock</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">market.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Index Investing</span><span style="font-family:Arial;font-size:9.5pt;font-weight:bold;">.</span><span style="font-family:Arial;font-size:9.5pt;"> The Fund is subject to risks associated with index investing. Because the Fund generally seeks to track the performance of the Target Index regardless of how the Target Index is performing, the Fund’s performance may be lower than it would be if it were actively managed. Although the Fund seeks to hold substantially all of the securities included in the Target Index, it may be unable to do so. In addition, the Fund could be prevented from holding one or more securities in the same proportion as in the Target Index. The performance of the Fund’s investments,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">in the aggregate,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">may not match the investment performance of the Target Index. This risk, known as tracking error risk, may be heightened during times of increased market volatility or under other unusual market conditions. The Fund also could be negatively impacted by changes to the Target Index made by the index provider or by errors made by the index provider. Any gains, losses, or costs associated with or resulting from an error made by the index provider will generally be borne by the Fund and, as a result, the Fund’s shareholders.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Concentration Risk.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">Except as may be necessary to approximate the composition of its Target Index, the Fund will not concentrate its investments in the securities of issuers whose principal business activities are in the same industry or group of industries.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">If the Target Index becomes concentrated and the Fund needs to concentrate in the same industry or group of industries, its performance could be negatively impacted by the industry or industries in which it is</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">concentrated.</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;font-weight:bold;">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.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Annual Total Returns</span> <span style="font-family:Arial;font-size:9.5pt;">The following bar chart and table show the Fund’s historical performance and are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund’s Admiral Shares has varied from one calendar year to another over the periods shown. The table shows how the average annual total returns of the Admiral Shares compare with those of a broad-based securities market index and one or more additional indexes</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">with similar investment characteristics as the Fund.</span><span style="font-family:Arial;font-size:9.5pt;"> Keep in mind that the Fund’s </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">past performance (before and after taxes) does not indicate how the Fund will perform in the future.</span><span style="color:#000000;font-family:Arial;font-size:9.5pt;"> Updated performance information is available on our </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">website at </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:italic;">vanguard.com/performance</span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">.</span> <span style="font-family:Arial;font-size:9.5pt;">The following bar chart and table show the Fund’s historical performance and are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund’s Admiral Shares has varied from one calendar year to another over the periods shown. The table shows how the average annual total returns of the Admiral Shares compare with those of a broad-based securities market index and one or more additional indexes</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">with similar investment characteristics as the Fund.</span> <span style="font-family:Arial;font-size:9.5pt;"> Keep in mind that the Fund’s </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">past performance (before and after taxes) does not indicate how the Fund will perform in the future.</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:italic;">vanguard.com/performance</span> <span style="font-family:Arial;font-size:8pt;font-weight:bold;">Annual Total Returns — Vanguard Small-Cap Index Fund Admiral Shares</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">During the periods shown in the bar chart, the highest and lowest returns for a calendar quarter were:</span> <span style="color:#000000;font-family:Arial;font-size:8pt;margin-left:0.0pt;">Highest</span> 0.2710 2020-12-31 <span style="color:#000000;font-family:Arial;font-size:8pt;margin-left:0.0pt;">Lowest</span> -0.3007 2020-03-31 <span style="font-family:Arial;font-size:8.5pt;font-weight:bold;">Average Annual Total Returns for Periods Ended December 31, 2025</span> 0.0883 0.0734 0.1043 0.0843 0.0693 0.0998 0.0542 0.0567 0.0847 0.0882 0.0731 0.1040 0.1705 0.1307 0.1421 <span style="font-family:Arial;font-size:9.5pt;">Actual after-tax returns depend on your tax situation and may differ from those shown in the preceding table. </span><span style="font-family:Arial;font-size:9.5pt;">When after-tax returns are calculated, it is </span><span style="font-family:Arial;font-size:9.5pt;">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.</span><span style="font-family:Arial;font-size:9.5pt;">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. </span><span style="font-family:Arial;font-size:9.5pt;">Also, figures captioned </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;">Return After Taxes on Distributions and Sale of Fund Shares</span><span style="font-family:Arial;font-size:9.5pt;"> 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.</span> <span style="font-family:Arial;font-size:9.5pt;">When after-tax returns are calculated, it is </span><span style="font-family:Arial;font-size:9.5pt;">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.</span> <span style="font-family:Arial;font-size:9.5pt;">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. </span> <span style="font-family:Arial;font-size:9.5pt;">Also, figures captioned </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;">Return After Taxes on Distributions and Sale of Fund Shares</span><span style="font-family:Arial;font-size:9.5pt;"> 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.</span> <span style="color:#000000;font-family:Arial;font-size:13pt;font-weight:bold;">Vanguard Small-Cap Value Index Fund</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Investment Objective</span> <span style="font-family:Arial;font-size:9.5pt;">Vanguard Small-Cap Value Index Fund (the “Fund”) seeks to track the performance of a benchmark index that measures the investment return of small-capitalization value stocks.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Fees and Expenses</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">The following tables describe the fees and expenses you may pay if you buy, hold, and sell Admiral Shares of the Fund. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;font-weight:bold;">You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the tables and example below.</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Shareholder Fees</span> <br/><span style="color:#000000;font-family:Arial;font-size:8.5pt;">(Fees paid directly from your investment)</span> 0 0 0 0 25 <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Annual Fund Operating Expenses</span> <br/><span style="color:#000000;font-family:Arial;font-size:8.5pt;">(Expenses that you pay each year as a percentage of the value of your investment)</span> 0.0006 0 0.0001 0.0007 <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Example</span> <span style="font-family:Arial;font-size:9.5pt;">This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other funds. The example assumes that you invest $10,000 in the Fund for</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">the time periods indicated and then redeem all of your shares at the end of those periods. The example also assumes that your investment has a 5%</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">return each year</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">and that the Fund’s operating expenses remain the</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">same.</span> 7 23 40 90 <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Portfolio Turnover</span> <span style="font-family:Arial;font-size:9.5pt;">The Fund pays transaction costs, such as commissions, 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 higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was </span><span style="font-family:Arial;font-size:9.5pt;">25</span><span style="font-family:Arial;font-size:9.5pt;">% of the average value of its portfolio.</span> 0.25 <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Principal Investment Strategies</span> <span style="font-family:Arial;font-size:9.5pt;">The Fund employs an indexing investment approach designed to track the performance of the CRSP US Small Cap Value Index (the “Target Index”), a broadly diversified index of value stocks of small U.S. companies, as determined by the index provider. Under normal circumstances, the Fund invests at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in the stocks that make up the Target Index. The Fund attempts to replicate the Target Index by investing all, or substantially all, of its assets in the stocks that make up the Target Index, holding each stock in approximately the same proportion as its weighting in the Target Index.</span> <span style="font-family:Arial;font-size:9.5pt;">As with any investment, an investment in the Fund could lose money over any time</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">period.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">General Market Risk.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">The markets in which</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">the Fund invests can be affected by a variety of factors. These factors, which can be real or perceived,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">may include</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">economic, market, political,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">and regulatory conditions and developments as well as local,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">regional,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">or global events such as wars, military conflicts, natural disasters, and public health issues. In addition, investor sentiment and expectations regarding these factors can also impact the markets. Different parts of the market, including different industries and sectors as well as different types of securities, may react differently to factors that affect the market. These factors can contribute to market uncertainty, market volatility, and fluctuations in the value of the Fund’s investments, thereby resulting</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">in potential losses to</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">the Fund over short or long</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">periods.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Investing in Equity Markets</span><span style="font-family:Arial;font-size:9.5pt;font-weight:bold;">.</span><span style="font-family:Arial;font-size:9.5pt;"> The Fund invests in the equity markets. Equity markets have historically been cyclical, having periods of time when stock values rise and fall. Market volatility can lead to significant fluctuations in stock values, resulting in potential losses to the Fund.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Market Capitalization</span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">(Market</span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Cap).</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">Companies are generally classified into three types of market cap depending on their size:</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">small-,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">mid-,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">and large-cap.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">Companies can be further classified into micro- or mega-cap. </span><span style="font-family:Arial;font-size:9.5pt;margin-left:0.0pt;">Different factors can affect each market cap uniquely, and historically small- and mid-</span><span style="font-family:Arial;font-size:9.5pt;">cap stocks have typically been more volatile due to the effects of </span><span style="font-family:Arial;font-size:9.5pt;margin-left:0.0pt;">changing economic conditions. Large companies may not reach the same levels of growth or performance as smaller companies</span><span style="font-family:Arial;font-size:9.5pt;">, and they may be </span><span style="font-family:Arial;font-size:9.5pt;margin-left:0.0pt;">slower to react to competitive challenges</span><span style="font-family:Arial;font-size:9.5pt;">. The performance of funds that </span><span style="font-family:Arial;font-size:9.5pt;margin-left:0.0pt;">invest in a subset of market</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">caps could diverge</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">from the performance of a </span><span style="font-family:Arial;font-size:9.5pt;margin-left:0.0pt;">fund that is focused on a broader representation of the stock</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">market.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Value Investing</span><span style="font-family:Arial;font-size:9.5pt;font-weight:bold;">.</span><span style="font-family:Arial;font-size:9.5pt;"> The Fund’s approach to value investing could cause it to underperform other stock funds that use a different investment style. The Fund’s investments in value stocks are subject to the risk that the stocks’ valuations do not improve at the anticipated rate or that their returns do not move in tandem with the returns of other investment styles or the broader stock market.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Index Investing</span><span style="font-family:Arial;font-size:9.5pt;font-weight:bold;">.</span><span style="font-family:Arial;font-size:9.5pt;"> The Fund is subject to risks associated with index investing. Because the Fund generally seeks to track the performance of the Target Index regardless of how the Target Index is performing, the Fund’s performance may be lower than it would be if it were actively managed. Although the Fund seeks to hold substantially all of the securities included in the Target Index, it may be unable to do so. In addition, the Fund could be prevented from holding one or more securities in the same proportion as in the Target Index. The performance of the Fund’s investments,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">in the aggregate,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">may not match the investment performance of the Target Index. This risk, known as tracking error risk, may be heightened during times of increased market volatility or under other unusual market conditions. The Fund also could be negatively impacted by changes to the Target Index made by the index provider or by errors made by the index provider. Any gains, losses, or costs associated with or resulting from an error made by the index provider will generally be borne by the Fund and, as a result, the Fund’s shareholders.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Concentration Risk.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">Except as may be necessary to approximate the composition of its Target Index, the Fund will not concentrate its investments in the securities of issuers whose principal business activities are in the same industry or group of industries.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">If the Target Index becomes concentrated and the Fund needs to concentrate in the same industry or group of industries, its performance could be negatively impacted by the industry or industries in which it is</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">concentrated.</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;font-weight:bold;">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.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Annual Total Returns</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">The following bar chart and table show the Fund’s historical performance and are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund’s Admiral Shares has varied from </span><span style="font-family:Arial;font-size:9.5pt;">one calendar year to another over the periods shown. The table shows how the average annual total returns of the Admiral Shares compare with those of a broad-based securities market index and one or more additional indexes</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">with similar investment characteristics as the Fund.</span><span style="font-family:Arial;font-size:9.5pt;"> Keep in mind that the Fund’s </span><span style="font-family:Arial;font-size:9.5pt;">past performance (before and after taxes) does not indicate how the Fund will perform in the future.</span><span style="font-family:Arial;font-size:9.5pt;"> Updated performance information is available on our </span><span style="font-family:Arial;font-size:9.5pt;">website at </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;">vanguard.com/performance</span><span style="font-family:Arial;font-size:9.5pt;">.</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">The following bar chart and table show the Fund’s historical performance and are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund’s Admiral Shares has varied from </span><span style="font-family:Arial;font-size:9.5pt;">one calendar year to another over the periods shown. The table shows how the average annual total returns of the Admiral Shares compare with those of a broad-based securities market index and one or more additional indexes</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">with similar investment characteristics as the Fund.</span> <span style="font-family:Arial;font-size:9.5pt;"> Keep in mind that the Fund’s </span><span style="font-family:Arial;font-size:9.5pt;">past performance (before and after taxes) does not indicate how the Fund will perform in the future.</span> <span style="font-family:Arial;font-size:9.5pt;font-style:italic;">vanguard.com/performance</span> <span style="font-family:Arial;font-size:8pt;font-weight:bold;">Annual Total Returns — Vanguard Small-Cap Value Index Fund Admiral Shares</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">During the periods shown in the bar chart, the highest and lowest returns for a calendar quarter were:</span> <span style="color:#000000;font-family:Arial;font-size:8pt;margin-left:0.0pt;">Highest</span> 0.2933 2020-12-31 <span style="color:#000000;font-family:Arial;font-size:8pt;margin-left:0.0pt;">Lowest</span> -0.3487 2020-03-31 <span style="font-family:Arial;font-size:8.5pt;font-weight:bold;">Average Annual Total Returns for Periods Ended December 31, 2025</span> 0.0909 0.1056 0.1015 0.0850 0.0996 0.0954 0.0566 0.0825 0.0816 0.0911 0.1058 0.1015 0.1705 0.1307 0.1421 <span style="font-family:Arial;font-size:9.5pt;">Actual after-tax returns depend on your tax situation and may differ from those shown in the preceding table. </span><span style="font-family:Arial;font-size:9.5pt;">When after-tax returns are calculated, it is </span><span style="font-family:Arial;font-size:9.5pt;">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.</span><span style="font-family:Arial;font-size:9.5pt;">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. </span><span style="font-family:Arial;font-size:9.5pt;">Also, figures captioned </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;">Return After Taxes on Distributions and Sale of Fund </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:italic;">Shares</span><span style="color:#000000;font-family:Arial;font-size:9.5pt;"> 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.</span> <span style="font-family:Arial;font-size:9.5pt;">When after-tax returns are calculated, it is </span><span style="font-family:Arial;font-size:9.5pt;">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.</span> <span style="font-family:Arial;font-size:9.5pt;">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. </span> <span style="font-family:Arial;font-size:9.5pt;">Also, figures captioned </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;">Return After Taxes on Distributions and Sale of Fund </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:italic;">Shares</span><span style="color:#000000;font-family:Arial;font-size:9.5pt;"> 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.</span> <span style="color:#000000;font-family:Arial;font-size:13pt;font-weight:bold;">Vanguard Small-Cap Growth Index Fund</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Investment Objective</span> <span style="font-family:Arial;font-size:9.5pt;">Vanguard Small-Cap Growth Index Fund (the “Fund”) seeks to track the performance of a benchmark index that measures the investment return of small-capitalization growth stocks.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Fees and Expenses</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">The following tables describe the fees and expenses you may pay if you buy, hold, and sell Admiral Shares of the Fund. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;font-weight:bold;">You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the tables and example below.</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Shareholder Fees</span> <br/><span style="color:#000000;font-family:Arial;font-size:8.5pt;">(Fees paid directly from your investment)</span> 0 0 0 0 25 <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Annual Fund Operating Expenses</span> <br/><span style="color:#000000;font-family:Arial;font-size:8.5pt;">(Expenses that you pay each year as a percentage of the value of your investment)</span> 0.0006 0 0.0001 0.0007 <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Example</span> <span style="font-family:Arial;font-size:9.5pt;">This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other funds. The example assumes that you invest $10,000 in the Fund for</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">the time periods indicated and then redeem all of your shares at the end of those periods. The example also assumes that your investment has a 5%</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">return each year</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">and that the Fund’s operating expenses remain the</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">same.</span> 7 23 40 90 <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Portfolio Turnover</span> <span style="font-family:Arial;font-size:9.5pt;">The Fund pays transaction costs, such as commissions, 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 higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was </span><span style="font-family:Arial;font-size:9.5pt;">24</span><span style="font-family:Arial;font-size:9.5pt;">% of the average value of its portfolio.</span> 0.24 <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Principal Investment Strategies</span> <span style="font-family:Arial;font-size:9.5pt;">The Fund employs an indexing investment approach designed to track the performance of the CRSP US Small Cap Growth Index (the “Target Index”), a broadly diversified index of growth stocks of small U.S. companies, as determined by the index provider. Under normal circumstances, the Fund invests at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in the stocks that make up the Target Index. The Fund attempts to replicate the Target Index by investing all, or substantially all, of its assets in the stocks that make up the Target Index, holding each stock in approximately the same proportion as its weighting in the Target Index.</span> <span style="font-family:Arial;font-size:9.5pt;">As with any investment, an investment in the Fund could lose money over any time</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">period.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">General Market Risk.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">The markets in which</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">the Fund invests can be affected by a variety of factors. These factors, which can be real or perceived,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">may include</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">economic, market, political,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">and regulatory conditions and developments as well as local,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">regional,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">or global events such as wars, military conflicts, natural disasters, and public health issues. In addition, investor sentiment and expectations regarding these factors can also impact the markets. Different parts of the market, including different industries and sectors as well as different types of securities, may react differently to factors that affect the market. These factors can contribute to market uncertainty, market volatility, and fluctuations in the value of the Fund’s investments, thereby resulting</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">in potential losses to</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">the Fund over short or long</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">periods.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Investing in Equity Markets</span><span style="font-family:Arial;font-size:9.5pt;font-weight:bold;">.</span><span style="font-family:Arial;font-size:9.5pt;"> The Fund invests in the equity markets. Equity markets have historically been cyclical, having periods of time when stock values rise and fall. Market volatility can lead to significant fluctuations in stock values, resulting in potential losses to the Fund.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Market Capitalization (Market Cap).</span><span style="font-family:Arial;font-size:9.5pt;"> Companies are generally classified into three types of market cap depending on their size: small-, mid-, and large-cap. Companies can be further classified into micro- or mega-cap. </span><span style="font-family:Arial;font-size:9.5pt;margin-left:0.0pt;">Different factors can affect each market cap uniquely, and historically small- and mid-cap stocks have typically been more volatile due to the effects of changing economic conditions. Large companies may not reach the same levels of growth or performance as smaller companies, and they may be slower to react to competitive challenges. The performance of funds that invest in a subset of market caps could diverge from the performance of a fund that is focused on a broader representation of the stock market.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Growth Investing</span><span style="font-family:Arial;font-size:9.5pt;font-weight:bold;">.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">The</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">Fund’s approach to growth investing could cause it to underperform other stock funds that use a different investment style. Growth stocks typically produce lower yields because growth companies prefer to reinvest earnings into research and development to promote growth and increase profitability. Research and development can be expensive and may not always produce favorable results, which could harm</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">a company’s performance relative to the broader</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">market.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Index Investing</span><span style="font-family:Arial;font-size:9.5pt;font-weight:bold;">.</span><span style="font-family:Arial;font-size:9.5pt;"> The Fund is subject to risks associated with index investing. Because the Fund generally seeks to track the performance of the Target Index regardless of how the Target Index is performing, the Fund’s performance may be lower than it would be if it were actively managed. Although the Fund seeks to hold substantially all of the securities included in the Target Index, it may be unable to do so. In addition, the Fund could be prevented from holding one or more securities in the same proportion as in the Target Index. The performance of the Fund’s investments,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">in the aggregate,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">may not match the investment performance of the Target Index. This risk, known as tracking error risk, may be heightened during times of increased market volatility or under other unusual market conditions. The Fund also could be negatively impacted by changes to the Target Index made by the index provider or by errors made by the index provider. Any gains, losses, or costs associated with or resulting from an error made by the index provider will generally be borne by the Fund and, as a result, the Fund’s shareholders.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Concentration Risk.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">Except as may be necessary to approximate the composition of its Target Index, the Fund will not concentrate its investments in the securities of issuers whose principal business activities are in the same industry or group of industries.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">If the Target Index becomes concentrated and the Fund needs to concentrate in the same industry or group of industries, its performance could be negatively impacted by the industry or industries in which it is</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">concentrated.</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;font-weight:bold;">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.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Annual Total Returns</span> <span style="font-family:Arial;font-size:9.5pt;">The following bar chart and table show the Fund’s historical performance and are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund’s Admiral Shares has varied from one calendar year to another over the periods shown. The table shows how the average annual total returns of the Admiral Shares compare with those of a broad-based securities market index and one or more additional indexes</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">with similar investment characteristics as the Fund.</span><span style="font-family:Arial;font-size:9.5pt;"> Keep in mind that the Fund’s </span><span style="font-family:Arial;font-size:9.5pt;">past performance (before and after taxes) does not indicate how the Fund will perform in the future.</span><span style="font-family:Arial;font-size:9.5pt;"> Updated performance information is available on our </span><span style="font-family:Arial;font-size:9.5pt;">website at </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;">vanguard.com/performance</span><span style="font-family:Arial;font-size:9.5pt;">.</span> <span style="font-family:Arial;font-size:9.5pt;">The following bar chart and table show the Fund’s historical performance and are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund’s Admiral Shares has varied from one calendar year to another over the periods shown. The table shows how the average annual total returns of the Admiral Shares compare with those of a broad-based securities market index and one or more additional indexes</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">with similar investment characteristics as the Fund.</span> <span style="font-family:Arial;font-size:9.5pt;"> Keep in mind that the Fund’s </span><span style="font-family:Arial;font-size:9.5pt;">past performance (before and after taxes) does not indicate how the Fund will perform in the future.</span> <span style="font-family:Arial;font-size:9.5pt;font-style:italic;">vanguard.com/performance</span> <span style="font-family:Arial;font-size:8pt;font-weight:bold;">Annual Total Returns — Vanguard Small-Cap Growth Index Fund Admiral Shares</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">During the periods shown in the bar chart, the highest and lowest returns for a calendar quarter were:</span> <span style="color:#000000;font-family:Arial;font-size:8pt;margin-left:0.0pt;">Highest</span> 0.3292 2020-06-30 <span style="color:#000000;font-family:Arial;font-size:8pt;margin-left:0.0pt;">Lowest</span> -0.2422 2020-03-31 <span style="font-family:Arial;font-size:8.5pt;font-weight:bold;">Average Annual Total Returns for Periods Ended December 31, 2025</span> 0.0844 0.0302 0.1025 0.0827 0.0287 0.1004 0.0507 0.0230 0.0840 0.0844 0.0299 0.1023 0.1705 0.1307 0.1421 <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Actual after-tax returns depend on your tax situation and may differ from those shown in the preceding table. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">When after-tax returns are calculated, it is </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">assumed that the shareholder was in the highest individual federal marginal </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">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. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">Please note that after-tax returns are not relevant for a </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">Also, figures captioned </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:italic;">Return After Taxes on Distributions and Sale of Fund Shares</span><span style="color:#000000;font-family:Arial;font-size:9.5pt;"> 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.</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">When after-tax returns are calculated, it is </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">assumed that the shareholder was in the highest individual federal marginal </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">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. </span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Please note that after-tax returns are not relevant for a </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. </span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Also, figures captioned </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:italic;">Return After Taxes on Distributions and Sale of Fund Shares</span><span style="color:#000000;font-family:Arial;font-size:9.5pt;"> 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.</span> <span style="color:#000000;font-family:Arial;font-size:13pt;font-weight:bold;">Vanguard Small-Cap Index Fund</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Investment Objective</span> <span style="font-family:Arial;font-size:9.5pt;">Vanguard Small-Cap Index Fund (the “Fund”) seeks to track the performance of a benchmark index that measures the investment return of </span> <br/><span style="font-family:Arial;font-size:9.5pt;">small-capitalization stocks.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Fees and Expenses</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">The following tables describe the fees and expenses you may pay if you buy, hold, and sell Institutional Shares or Institutional Plus Shares of the Fund. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;font-weight:bold;">You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the tables and examples below.</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Shareholder Fees</span> <br/><span style="color:#000000;font-family:Arial;font-size:8.5pt;">(Fees paid directly from your investment)</span> 0 0 0 0 0 0 0 0 <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Annual Fund Operating Expenses</span> <br/><span style="color:#000000;font-family:Arial;font-size:8.5pt;">(Expenses that you pay each year as a percentage of the value of your investment)</span> 0.0002 0.0002 0 0 0.0001 0.0000 0.0003 0.0002 <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Examples</span> <span style="font-family:Arial;font-size:9.5pt;">These examples are intended to help you compare the cost of investing in the Fund with the cost of investing in other funds. The examples assume that you invest $10,000 in the Fund for</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">the time periods indicated and then redeem all of your shares at the end of those periods. The example assume that your investment has a 5%</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">return each year</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">and that the Fund’s operating expenses remain the</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">same.</span> 3 10 17 39 2 6 11 26 <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Portfolio Turnover</span> <span style="font-family:Arial;font-size:9.5pt;">The Fund pays transaction costs, such as commissions, 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 higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the examples, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was </span><span style="font-family:Arial;font-size:9.5pt;">17</span><span style="font-family:Arial;font-size:9.5pt;">% of the average value of its portfolio.</span> 0.17 <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Principal Investment Strategies</span> <span style="font-family:Arial;font-size:9.5pt;">The Fund employs an indexing investment approach designed to track the performance of the CRSP US Small Cap Index (the “Target Index”), a broadly diversified index of stocks of small U.S. companies, as determined by the index provider. Under normal circumstances, the Fund invests at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in the stocks that make up the Target Index. The Fund attempts to replicate the Target Index by investing all, or substantially all, of its assets in the stocks that make up the Target Index, holding each stock in approximately the same proportion as its weighting in the Target Index.</span> <span style="font-family:Arial;font-size:9.5pt;">As with any investment, an investment in the Fund could lose money over any time</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">period.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">General Market Risk.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">The markets in which</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">the Fund invests can be affected by a variety of factors. These factors, which can be real or perceived,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">may include</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">economic, market, political,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">and regulatory conditions and developments as well as local,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">regional,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">or global events such as wars, military conflicts, natural disasters, and public health issues. In addition, investor sentiment and expectations regarding these factors can also impact the markets. Different parts of the market, including different industries and </span><span style="font-family:Arial;font-size:9.5pt;margin-left:0.0pt;">sectors as well as different types of securities, may react differently to factors that affect the market. These factors can contribute to market uncertainty, market volatility, and fluctuations in the value of the </span><span style="font-family:Arial;font-size:9.5pt;">Fund’s investments, thereby resulting</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">in potential losses to the Fund over short or long</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">periods.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Investing in Equity Markets</span><span style="font-family:Arial;font-size:9.5pt;font-weight:bold;">.</span><span style="font-family:Arial;font-size:9.5pt;"> The Fund invests in the equity markets. Equity markets have historically been cyclical, having periods of time when stock values rise and fall. Market volatility can lead to significant fluctuations in stock values, resulting in potential losses to the Fund.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Market Capitalization</span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">(Market</span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Cap).</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">Companies are generally classified into three types of market cap depending on their size:</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">small-,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">mid-,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">and large-cap.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">Companies can be further classified into micro- or mega-cap. Different factors can affect each market cap uniquely, and historically small- and mid-cap stocks have typically been more volatile due to the effects of changing economic conditions. Large companies may not reach the same levels of growth or performance as smaller companies, and they may be slower to react to competitive challenges. The performance of funds that invest in a subset of market</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">caps could diverge</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">from the performance of a fund that is focused on a broader representation of the stock</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">market.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Index Investing</span><span style="font-family:Arial;font-size:9.5pt;font-weight:bold;">.</span><span style="font-family:Arial;font-size:9.5pt;"> The Fund is subject to risks associated with index investing. Because the Fund generally seeks to track the performance of the Target Index regardless of how the Target Index is performing, the Fund’s performance may be lower than it would be if it were actively managed. Although the Fund seeks to hold substantially all of the securities included in the Target Index, it may be unable to do so. In addition, the Fund could be prevented from holding one or more securities in the same proportion as in the Target Index. The performance of the Fund’s investments,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">in the aggregate,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">may not match the investment performance of the Target Index. This risk, known as tracking error risk, may be heightened during times of increased market volatility or under other unusual market conditions. The Fund also could be negatively impacted by changes to the Target Index made by the index provider or by errors made by the index provider. Any gains, losses, or costs associated with or resulting from an error made by the index provider will generally be borne by the Fund and, as a result, the Fund’s shareholders.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Concentration Risk.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">Except as may be necessary to approximate the composition of its Target Index, the Fund will not concentrate its investments in the securities of issuers whose principal business activities are in the same industry or group of industries.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">If the Target Index becomes concentrated and the Fund needs to concentrate in the same industry or group of industries, its performance could be negatively impacted by the industry or industries in which it is</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">concentrated.</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;font-weight:bold;">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.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Annual Total Returns</span> <span style="font-family:Arial;font-size:9.5pt;">The following bar chart and table show the Fund’s historical performance and are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund’s Institutional Shares has varied from one calendar year to another over the periods shown. The table shows how the average annual total returns of the share classes presented compare with those of a broad-based securities market index and one or more additional indexes</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">with similar investment characteristics as the Fund. </span><span style="font-family:Arial;font-size:9.5pt;">Keep in mind that </span><span style="font-family:Arial;font-size:9.5pt;">the Fund’s past performance (before and after taxes) does not indicate how the Fund will perform in the future.</span><span style="font-family:Arial;font-size:9.5pt;"> Updated performance information is available on </span><span style="font-family:Arial;font-size:9.5pt;">our website at </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;">vanguard.com/performance</span><span style="font-family:Arial;font-size:9.5pt;">.</span> <span style="font-family:Arial;font-size:9.5pt;">The following bar chart and table show the Fund’s historical performance and are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund’s Institutional Shares has varied from one calendar year to another over the periods shown. The table shows how the average annual total returns of the share classes presented compare with those of a broad-based securities market index and one or more additional indexes</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">with similar investment characteristics as the Fund. </span> <span style="font-family:Arial;font-size:9.5pt;">Keep in mind that </span><span style="font-family:Arial;font-size:9.5pt;">the Fund’s past performance (before and after taxes) does not indicate how the Fund will perform in the future.</span> <span style="font-family:Arial;font-size:9.5pt;font-style:italic;">vanguard.com/performance</span> <span style="font-family:Arial;font-size:8pt;font-weight:bold;">Annual Total Returns — Vanguard Small-Cap Index Fund Institutional Shares</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">During the periods shown in the bar chart, the highest and lowest returns for a calendar quarter were:</span> <span style="color:#000000;font-family:Arial;font-size:8pt;margin-left:0.0pt;">Highest</span> 0.2710 2020-12-31 <span style="color:#000000;font-family:Arial;font-size:8pt;margin-left:0.0pt;">Lowest</span> -0.3008 2020-03-31 <span style="font-family:Arial;font-size:8.5pt;font-weight:bold;">Average Annual Total Returns for Periods Ended December 31, 2025</span> 0.0885 0.0736 0.1044 0.0845 0.0694 0.0999 0.0544 0.0568 0.0847 0.0886 0.0737 0.1045 0.0882 0.0731 0.1040 0.1705 0.1307 0.1421 <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Actual after-tax returns depend on your tax situation and may differ from those shown in the preceding table. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">When after-tax returns are calculated, it is </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">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. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">Please note that after-tax returns are shown only for the </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">Institutional Shares and may differ for each share class. After-tax returns are </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">not </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">Also, figures </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">captioned </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:italic;">Return After Taxes on Distributions and Sale of Fund Shares</span><span style="color:#000000;font-family:Arial;font-size:9.5pt;"> 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.</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">When after-tax returns are calculated, it is </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">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. </span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">not </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">relevant for a shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. </span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Also, figures </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">captioned </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:italic;">Return After Taxes on Distributions and Sale of Fund Shares</span><span style="color:#000000;font-family:Arial;font-size:9.5pt;"> 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.</span> <span style="color:#000000;font-family:Arial;font-size:13pt;font-weight:bold;">Vanguard Small-Cap Value Index Fund</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Investment Objective</span> <span style="font-family:Arial;font-size:9.5pt;">Vanguard Small-Cap Value Index Fund (the “Fund”) seeks to track the performance of a benchmark index that measures the investment return of small-capitalization value stocks.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Fees and Expenses</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">The following tables describe the fees and expenses you may pay if you buy, hold, and sell Institutional Shares of the Fund. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;font-weight:bold;">You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the tables and example below.</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Shareholder Fees</span> <br/><span style="color:#000000;font-family:Arial;font-size:8.5pt;">(Fees paid directly from your investment)</span> 0 0 0 0 <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Annual Fund Operating Expenses</span> <br/><span style="color:#000000;font-family:Arial;font-size:8.5pt;">(Expenses that you pay each year as a percentage of the value of your investment)</span> 0.0004 0 0.0001 0.0005 <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Example</span> <span style="font-family:Arial;font-size:9.5pt;">This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other funds. The example assumes that you invest $10,000 in the Fund for</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">the time periods indicated and then redeem all of your shares at the end of those periods. The example assume that your investment has a 5%</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">return each year</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">and that the Fund’s operating expenses remain the</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">same.</span> 5 16 28 64 <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Portfolio Turnover</span> <span style="font-family:Arial;font-size:9.5pt;">The Fund pays transaction costs, such as commissions, 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 higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was </span><span style="font-family:Arial;font-size:9.5pt;">25</span><span style="font-family:Arial;font-size:9.5pt;">% of the average value of its portfolio.</span> 0.25 <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Principal Investment Strategies</span> <span style="font-family:Arial;font-size:9.5pt;">The Fund employs an indexing investment approach designed to track the performance of the CRSP US Small Cap Value Index (the “Target Index”), a broadly diversified index of value stocks of small U.S. companies, as determined by the index provider. Under normal circumstances, the Fund invests at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in the stocks that make up the Target Index. The Fund attempts to replicate the Target Index by investing all, or substantially all, of its assets in the stocks that make up the Target Index, holding each stock in approximately the same proportion as its weighting in the Target Index.</span> <span style="font-family:Arial;font-size:9.5pt;">As with any investment, an investment in the Fund could lose money over any time</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">period.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">General Market Risk.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">The markets in which</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">the Fund invests can be affected by a variety of factors. These factors, which can be real or perceived,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">may include</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">economic, market, political,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">and regulatory conditions and developments as well as local,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">regional,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">or global events such as wars, military conflicts, natural disasters, and public health issues. In addition, investor sentiment and expectations regarding these factors can also impact the markets. Different parts of the market, including different industries and sectors as well as different types of securities, may react differently to factors that affect the market. These factors can contribute to market uncertainty, market volatility, and fluctuations in the value of the Fund’s investments, thereby resulting</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">in potential losses to the Fund over short or long</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">periods.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Investing in Equity Markets</span><span style="font-family:Arial;font-size:9.5pt;font-weight:bold;">.</span><span style="font-family:Arial;font-size:9.5pt;"> The Fund invests in the equity markets. Equity markets have historically been cyclical, having periods of time when stock values rise and fall. Market volatility can lead to significant fluctuations in stock values, resulting in potential losses to the Fund.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Market Capitalization</span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">(Market</span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Cap).</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">Companies are generally classified into three types of market cap depending on their size:</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">small-,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">mid-,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">and large-cap.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">Companies can be further classified into micro- or mega-cap. </span><span style="font-family:Arial;font-size:9.5pt;margin-left:0.0pt;">Different factors can affect each market cap uniquely, and historically small- and mid-</span><span style="font-family:Arial;font-size:9.5pt;">cap stocks have typically been more volatile due to the effects of </span><span style="font-family:Arial;font-size:9.5pt;margin-left:0.0pt;">changing economic conditions. Large companies may not reach the same levels of growth or performance as smaller companies</span><span style="font-family:Arial;font-size:9.5pt;">, and they may be </span><span style="font-family:Arial;font-size:9.5pt;margin-left:0.0pt;">slower to react to competitive challenges</span><span style="font-family:Arial;font-size:9.5pt;">. The performance of funds that </span><span style="font-family:Arial;font-size:9.5pt;margin-left:0.0pt;">invest in a subset of market</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">caps could diverge</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">from the performance of a </span><span style="font-family:Arial;font-size:9.5pt;margin-left:0.0pt;">fund that is focused on a broader representation of the stock</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">market.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Value Investing</span><span style="font-family:Arial;font-size:9.5pt;font-weight:bold;">.</span><span style="font-family:Arial;font-size:9.5pt;"> The Fund’s approach to value investing could cause it to underperform other stock funds that use a different investment style. The Fund’s investments in value stocks are subject to the risk that the stocks’ valuations do not improve at the anticipated rate or that their returns do not move in tandem with the returns of other investment styles or the broader stock market.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Index Investing</span><span style="font-family:Arial;font-size:9.5pt;font-weight:bold;">.</span><span style="font-family:Arial;font-size:9.5pt;"> The Fund is subject to risks associated with index investing. Because the Fund generally seeks to track the performance of the Target Index regardless of how the Target Index is performing, the Fund’s performance may be lower than it would be if it were actively managed. Although the Fund seeks to hold substantially all of the securities included in the Target Index, it may be unable to do so. In addition, the Fund could be prevented from holding one or more securities in the same proportion as in the Target Index. The performance of the Fund’s investments,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">in the aggregate,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">may not match the investment performance of the Target Index. This risk, known as tracking error risk, may be heightened during times of increased market volatility or under other unusual market conditions. The Fund also could be negatively impacted by changes to the Target Index made by the index provider or by errors made by the index provider. Any gains, losses, or costs associated with or resulting from an error made by the index provider will generally be borne by the Fund and, as a result, the Fund’s shareholders.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Concentration Risk.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">Except as may be necessary to approximate the composition of its Target Index, the Fund will not concentrate its investments in the securities of issuers whose principal business activities are in the same industry or group of industries.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">If the Target Index becomes concentrated and the Fund needs to concentrate in the same industry or group of industries, its performance could be negatively impacted by the industry or industries in which it is</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">concentrated.</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;font-weight:bold;">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.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Annual Total Returns</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">The following bar chart and table show the Fund’s historical performance and are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund’s Institutional Shares has varied </span><span style="font-family:Arial;font-size:9.5pt;">from one calendar year to another over the periods shown. The table shows how the average annual total returns of the Institutional Shares compare with those of a broad-based securities market index and one or more additional indexes</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">with similar investment characteristics as the Fund. </span><span style="font-family:Arial;font-size:9.5pt;">Keep in mind that </span><span style="font-family:Arial;font-size:9.5pt;">the Fund’s past performance (before and after taxes) does not indicate how the Fund will perform in the future.</span><span style="font-family:Arial;font-size:9.5pt;"> Updated performance information is available on </span><span style="font-family:Arial;font-size:9.5pt;">our website at </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;">vanguard.com/performance</span><span style="font-family:Arial;font-size:9.5pt;">.</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">The following bar chart and table show the Fund’s historical performance and are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund’s Institutional Shares has varied </span><span style="font-family:Arial;font-size:9.5pt;">from one calendar year to another over the periods shown. The table shows how the average annual total returns of the Institutional Shares compare with those of a broad-based securities market index and one or more additional indexes</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">with similar investment characteristics as the Fund. </span> <span style="font-family:Arial;font-size:9.5pt;">Keep in mind that </span><span style="font-family:Arial;font-size:9.5pt;">the Fund’s past performance (before and after taxes) does not indicate how the Fund will perform in the future.</span> <span style="font-family:Arial;font-size:9.5pt;font-style:italic;">vanguard.com/performance</span> <span style="font-family:Arial;font-size:8pt;font-weight:bold;">Annual Total Returns — Vanguard Small-Cap Value Index Fund Institutional Shares</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">During the periods shown in the bar chart, the highest and lowest returns for a calendar quarter were:</span> <span style="color:#000000;font-family:Arial;font-size:8pt;margin-left:0.0pt;">Highest</span> 0.2934 2020-12-31 <span style="color:#000000;font-family:Arial;font-size:8pt;margin-left:0.0pt;">Lowest</span> -0.3487 2020-03-31 <span style="font-family:Arial;font-size:8.5pt;font-weight:bold;">Average Annual Total Returns for Periods Ended December 31, 2025</span> 0.0910 0.1057 0.1016 0.0851 0.0997 0.0955 0.0567 0.0826 0.0817 0.0911 0.1058 0.1015 0.1705 0.1307 0.1421 <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Actual after-tax returns depend on your tax situation and may differ from those shown in the preceding table. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">When after-tax returns are calculated, it is </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">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. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">Please note that after-tax returns are not relevant for a </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">shareholder who holds fund shares in a tax-deferred account, such as an </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">individual retirement account or a 401(k) plan. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">Also, figures captioned </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:italic;">Return After Taxes on Distributions and Sale of Fund Shares</span><span style="color:#000000;font-family:Arial;font-size:9.5pt;"> 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.</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">When after-tax returns are calculated, it is </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">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. </span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Please note that after-tax returns are not relevant for a </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">shareholder who holds fund shares in a tax-deferred account, such as an </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">individual retirement account or a 401(k) plan. </span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Also, figures captioned </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:italic;">Return After Taxes on Distributions and Sale of Fund Shares</span><span style="color:#000000;font-family:Arial;font-size:9.5pt;"> 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.</span> <span style="color:#000000;font-family:Arial;font-size:13pt;font-weight:bold;">Vanguard Small-Cap Growth Index Fund</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Investment Objective</span> <span style="font-family:Arial;font-size:9.5pt;">Vanguard Small-Cap Growth Index Fund (the “Fund”) seeks to track the performance of a benchmark index that measures the investment return of small-capitalization growth stocks.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Fees and Expenses</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">The following tables describe the fees and expenses you may pay if you buy, hold, and sell Institutional Shares of the Fund. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;font-weight:bold;">You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the tables and example below.</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Shareholder Fees</span> <br/><span style="color:#000000;font-family:Arial;font-size:8.5pt;">(Fees paid directly from your investment)</span> 0 0 0 0 <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Annual Fund Operating Expenses</span> <br/><span style="color:#000000;font-family:Arial;font-size:8.5pt;">(Expenses that you pay each year as a percentage of the value of your investment)</span> 0.0004 0 0.0001 0.0005 <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Example</span> <span style="font-family:Arial;font-size:9.5pt;">This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other funds. The example assumes that you invest $10,000 in the Fund for</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">the time periods indicated and then redeem all of your shares at the end of those periods. The example assume that your investment has a 5%</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">return each year</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">and that the Fund’s operating expenses remain the</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">same.</span> 5 16 28 64 <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Portfolio Turnover</span> <span style="font-family:Arial;font-size:9.5pt;">The Fund pays transaction costs, such as commissions, 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 higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was </span><span style="font-family:Arial;font-size:9.5pt;">24</span><span style="font-family:Arial;font-size:9.5pt;">% of the average value of its portfolio.</span> 0.24 <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Principal Investment Strategies</span> <span style="font-family:Arial;font-size:9.5pt;">The Fund employs an indexing investment approach designed to track the performance of the CRSP US Small Cap Growth Index (the “Target Index”), a broadly diversified index of growth stocks of small U.S. companies, as determined by the index provider. Under normal circumstances, the Fund invests at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in the stocks that make up the Target Index. The Fund attempts to replicate the Target Index by investing all, or substantially all, of its assets in the stocks that make up the Target Index, holding each stock in approximately the same proportion as its weighting in the Target Index.</span> <span style="font-family:Arial;font-size:9.5pt;">As with any investment, an investment in the Fund could lose money over any time</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">period.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">General Market Risk.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">The markets in which</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">the Fund invests can be affected by a variety of factors. These factors, which can be real or perceived,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">may include</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">economic, market, political,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">and regulatory conditions and developments as well as local,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">regional,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">or global events such as wars, military conflicts, natural disasters, and public health issues. In addition, investor sentiment and expectations regarding these factors can also impact the markets. Different parts of the market, including different industries and sectors as well as different types of securities, may react differently to factors that affect the market. These factors can contribute to market uncertainty, market volatility, and fluctuations in the value of the Fund’s investments, thereby resulting</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">in potential losses to the Fund over short or long</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">periods.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Investing in Equity Markets</span><span style="font-family:Arial;font-size:9.5pt;font-weight:bold;">.</span><span style="font-family:Arial;font-size:9.5pt;"> The Fund invests in the equity markets. Equity markets have historically been cyclical, having periods of time when stock values rise and fall. Market volatility can lead to significant fluctuations in stock values, resulting in potential losses to the Fund.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Market Capitalization (Market Cap).</span><span style="font-family:Arial;font-size:9.5pt;"> Companies are generally classified into three types of market cap depending on their size: small-, mid-, and large-cap. Companies can be further classified into micro- or mega-cap. </span><span style="font-family:Arial;font-size:9.5pt;margin-left:0.0pt;">Different factors can affect each market cap uniquely, and historically small- and mid-cap stocks have typically been more volatile due to the effects of changing economic conditions. Large companies may not reach the same levels of growth or performance as smaller companies, and they may be slower to react to competitive challenges. The performance of funds that invest in a subset of market caps could diverge from the performance of a fund that is focused on a broader representation of the stock market.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Growth Investing</span><span style="font-family:Arial;font-size:9.5pt;font-weight:bold;">.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">The</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">Fund’s approach to growth investing could cause it to underperform other stock funds that use a different investment style. Growth stocks typically produce lower yields because growth companies prefer to reinvest earnings into research and development to promote growth and increase profitability. Research and development can be expensive and may not always produce favorable results, which could harm</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">a company’s performance relative to the broader</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">market.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Index Investing</span><span style="font-family:Arial;font-size:9.5pt;font-weight:bold;">.</span><span style="font-family:Arial;font-size:9.5pt;"> The Fund is subject to risks associated with index investing. Because the Fund generally seeks to track the performance of the Target Index regardless of how the Target Index is performing, the Fund’s performance may be lower than it would be if it were actively managed. Although the Fund seeks to hold substantially all of the securities included in the Target Index, it may be unable to do so. In addition, the Fund could be prevented from holding one or more securities in the same proportion as in the Target Index. The performance of the Fund’s investments,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">in the aggregate,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">may not match the investment performance of the Target Index. This risk, known as tracking error risk, may be heightened during times of increased market volatility or under other unusual market conditions. The Fund also could be negatively impacted by changes to the Target Index made by the index provider or by errors made by the index provider. Any gains, losses, or costs associated with or resulting from an error made by the index provider will generally be borne by the Fund and, as a result, the Fund’s shareholders.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Concentration Risk.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">Except as may be necessary to approximate the composition of its Target Index, the Fund will not concentrate its investments in the securities of issuers whose principal business activities are in the same industry or group of industries.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">If the Target Index becomes concentrated and the Fund needs to concentrate in the same industry or group of industries, its performance could be negatively impacted by the industry or industries in which it is</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">concentrated.</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;font-weight:bold;">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.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Annual Total Returns</span> <span style="font-family:Arial;font-size:9.5pt;">The following bar chart and table show the Fund’s historical performance and are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund’s Institutional Shares has varied from one calendar year to another over the periods shown. The table shows how the average annual total returns of the Institutional Shares compare with those of a broad-based securities market index and one or more additional indexes</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">with similar investment characteristics as the Fund. </span><span style="font-family:Arial;font-size:9.5pt;">Keep in mind that </span><span style="font-family:Arial;font-size:9.5pt;">the Fund’s past performance (before and after taxes) does not indicate how the Fund will perform in the future.</span><span style="font-family:Arial;font-size:9.5pt;"> Updated performance information is available on </span><span style="font-family:Arial;font-size:9.5pt;">our website at </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;">vanguard.com/performance</span><span style="font-family:Arial;font-size:9.5pt;">.</span> <span style="font-family:Arial;font-size:9.5pt;">The following bar chart and table show the Fund’s historical performance and are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund’s Institutional Shares has varied from one calendar year to another over the periods shown. The table shows how the average annual total returns of the Institutional Shares compare with those of a broad-based securities market index and one or more additional indexes</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">with similar investment characteristics as the Fund. </span> <span style="font-family:Arial;font-size:9.5pt;">Keep in mind that </span><span style="font-family:Arial;font-size:9.5pt;">the Fund’s past performance (before and after taxes) does not indicate how the Fund will perform in the future.</span> <span style="font-family:Arial;font-size:9.5pt;font-style:italic;">vanguard.com/performance</span> <span style="font-family:Arial;font-size:8pt;font-weight:bold;">Annual Total Returns — Vanguard Small-Cap Growth Index Fund Institutional Shares</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">During the periods shown in the bar chart, the highest and lowest returns for a calendar quarter were:</span> <span style="color:#000000;font-family:Arial;font-size:8pt;margin-left:0.0pt;">Highest</span> 0.3292 2020-06-30 <span style="color:#000000;font-family:Arial;font-size:8pt;margin-left:0.0pt;">Lowest</span> -0.2421 2020-03-31 <span style="font-family:Arial;font-size:8.5pt;font-weight:bold;">Average Annual Total Returns for Periods Ended December 31, 2025</span> 0.0843 0.0303 0.1026 0.0827 0.0288 0.1005 0.0507 0.0231 0.0841 0.0844 0.0299 0.1023 0.1705 0.1307 0.1421 <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Actual after-tax returns depend on your tax situation and may differ from those shown in the preceding table. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">When after-tax returns are calculated, it is </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">assumed that the shareholder was in the highest individual federal marginal </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">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. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">Please note that after-tax returns are not relevant for a </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">Also, figures captioned </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:italic;">Return After Taxes on Distributions and Sale of Fund Shares</span><span style="color:#000000;font-family:Arial;font-size:9.5pt;"> 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.</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">When after-tax returns are calculated, it is </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">assumed that the shareholder was in the highest individual federal marginal </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">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. </span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Please note that after-tax returns are not relevant for a </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. </span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Also, figures captioned </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:italic;">Return After Taxes on Distributions and Sale of Fund Shares</span><span style="color:#000000;font-family:Arial;font-size:9.5pt;"> 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.</span> <span style="color:#000000;font-family:Arial;font-size:13pt;font-weight:bold;">Vanguard Total Stock Market ETF</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Investment Objective</span> <span style="font-family:Arial;font-size:9.5pt;">Vanguard Total Stock Market ETF, an exchange-traded share class of Vanguard Total Stock Market Index Fund (the “Fund”), seeks to track the performance of a benchmark index that measures the investment return of the overall stock market.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Fees and Expenses</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">The following tables describe the fees and expenses you may pay if you buy, hold, and sell ETF Shares of the Fund. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;font-weight:bold;">You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the tables and example below.</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Shareholder Fees</span> <br/><span style="color:#000000;font-family:Arial;font-size:8.5pt;">(Fees paid directly from your investment)</span> 0 0 0 <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Annual Fund Operating Expenses</span> <br/><span style="color:#000000;font-family:Arial;font-size:8.5pt;">(Expenses that you pay each year as a percentage of the value of your investment)</span> 0.0003 0 0.0000 0.0003 <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Example</span> <span style="font-family:Arial;font-size:9.5pt;">This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other funds. The example assumes that you invest $10,000 in the Fund for</span><span style="font-family:Arial;font-size:9.5pt;line-height:10.3pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">the time periods indicated and then redeem all of your shares at the end of those periods. The example also assumes that your investment has a 5%</span><span style="font-family:Arial;font-size:9.5pt;line-height:10.3pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">return each year</span><span style="font-family:Arial;font-size:9.5pt;line-height:10.3pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">and that the Fund’s operating expenses remain the</span><span style="font-family:Arial;font-size:9.5pt;line-height:10.3pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">same.</span> 3 10 17 39 <span style="font-family:Arial;font-size:9.5pt;">This example does not include the brokerage commissions that you may pay to buy and sell ETF Shares of the Fund.</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Portfolio Turnover</span> <span style="font-family:Arial;font-size:9.5pt;">The Fund pays transaction costs, such as commissions, 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 higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was </span><span style="font-family:Arial;font-size:9.5pt;">3</span><span style="font-family:Arial;font-size:9.5pt;">% of the average value of its portfolio.</span> 0.03 <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Principal Investment Strategies</span> <span style="font-family:Arial;font-size:9.5pt;">The Fund employs an indexing investment approach designed to track the performance of the CRSP US Total Market Index (the “Target Index”), which represents 100% of the investable U.S. stock market,</span><span style="font-family:Arial;font-size:9.5pt;line-height:10.3pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">as determined by the index provider. The Target Index includes large-, mid-, small-, and micro-cap stocks regularly traded on the New York Stock Exchange and Nasdaq. Under normal circumstances, the Fund invests at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in the stocks that make up the Target Index. The Fund invests by sampling the Target Index, meaning that it holds a range of securities that, in the aggregate, approximates the full Target Index in terms of key risk factors and other characteristics.</span><span style="font-family:Arial;font-size:9.5pt;line-height:10.3pt;">The Fund may become nondiversified, as defined under the Investment Company Act of 1940, solely as a result of tracking an index. This could occur due to events such as an index rebalance or market movement. In addition, the Fund could become concentrated in an industry or group of industries if the Target Index becomes concentrated due to market conditions or the performance of a single or related group of issuers. </span> <span style="font-family:Arial;font-size:9.5pt;">As with any investment, an investment in the Fund could lose money over any time</span><span style="font-family:Arial;font-size:9.5pt;line-height:10.3pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">period.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">General Market Risk.</span><span style="font-family:Arial;font-size:9.5pt;"> The markets in which the Fund invests can be affected by a variety of factors. These factors, which can be real or perceived,</span><span style="font-family:Arial;font-size:9.5pt;line-height:10.3pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">may include economic, market,</span><span style="font-family:Arial;font-size:9.5pt;line-height:10.3pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">political,</span><span style="font-family:Arial;font-size:9.5pt;line-height:10.3pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">and regulatory conditions and developments as well as local, regional, or global events such as wars, military conflicts, natural disasters, and public health issues. In addition, investor sentiment and expectations regarding these factors can also impact the markets. Different parts of the market, including different industries and sectors as well as different types of securities, may react differently to factors that affect the market. These factors can contribute to market uncertainty, market volatility, and fluctuations in the value of the Fund’s investments, thereby resulting</span><span style="font-family:Arial;font-size:9.5pt;line-height:10.3pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">in potential losses to the Fund over short or long</span><span style="font-family:Arial;font-size:9.5pt;line-height:10.3pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">periods.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Investing in Equity Markets</span><span style="font-family:Arial;font-size:9.5pt;font-weight:bold;">.</span><span style="font-family:Arial;font-size:9.5pt;"> The Fund invests in the equity markets. Equity markets have historically been cyclical, having periods of time when stock values rise and fall. Market volatility can lead to significant fluctuations in stock values, resulting in potential losses to the Fund.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Market Capitalization (Market Cap).</span><span style="font-family:Arial;font-size:9.5pt;"> Companies are generally classified into three types of market cap depending on their size: small-, mid-, and large-cap. Companies can be further classified into micro- or mega-cap. Different factors can affect each market cap uniquely, and historically small- and mid-cap stocks have typically been more volatile due to the effects of changing economic conditions. Large companies may not reach the same levels of growth or performance as smaller companies, and they may be slower to react to competitive challenges. The performance of funds that invest in a subset of market caps could diverge from the performance of a fund that is focused on a broader representation of the stock market.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Index Investing</span><span style="font-family:Arial;font-size:9.5pt;font-weight:bold;">.</span><span style="font-family:Arial;font-size:9.5pt;"> The Fund is subject to risks associated with index investing. Because the Fund generally seeks to track the performance of the Target Index regardless of how the Target Index is performing, the Fund’s performance may be lower than it would be if it were actively managed. Additionally,</span><span style="font-family:Arial;font-size:9.5pt;line-height:10.3pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">because the Fund does not hold all of the securities included in the Target Index, it is subject to the risk that the representative sample of securities selected by the advisor will, in the aggregate, vary from the investment profile of the full Target Index. The performance of the Fund’s investments,</span><span style="font-family:Arial;font-size:9.5pt;line-height:10.3pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">in the aggregate,</span><span style="font-family:Arial;font-size:9.5pt;line-height:10.3pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">may not match the investment performance of the Target Index. This risk, known as tracking error risk, may be heightened during times of increased market volatility or under other unusual market conditions. The Fund also could be negatively impacted by changes to the Target Index made by the index provider or by errors made by the index provider. Any gains, losses, or costs associated with or resulting from an error made by the index provider will generally be borne by the Fund and, as a result, the Fund’s shareholders.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Nondiversification.</span><span style="font-family:Arial;font-size:9.5pt;line-height:10.3pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">By tracking its broad-based Target Index, the Fund could become nondiversified, as defined under the Investment Company Act of 1940, due to events such as an index rebalance or market movement. The </span><span style="font-family:Arial;font-size:9.5pt;">performance of nondiversified funds may be negatively impacted by relatively </span><span style="font-family:Arial;font-size:9.5pt;margin-left:0.0pt;">few securities</span><span style="font-family:Arial;font-size:9.5pt;"> or even a single security and their shares may experience </span><span style="font-family:Arial;font-size:9.5pt;margin-left:0.0pt;">significant fluctuations in value.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Concentration Risk.</span><span style="font-family:Arial;font-size:9.5pt;line-height:10.3pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">Except as may be necessary to approximate the composition of its Target Index, the Fund will not concentrate its investments in the securities of issuers whose principal business activities are in the same industry or group of industries. If the Target Index becomes concentrated and the Fund needs to concentrate in the same industry or group of industries, its performance could be</span><span style="font-family:Arial;font-size:9.5pt;line-height:10.3pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">negatively impacted by the industry or industries in which it is</span><span style="font-family:Arial;font-size:9.5pt;line-height:10.3pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">concentrated.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Information Technology Sector.</span><span style="font-family:Arial;font-size:9.5pt;line-height:10.3pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">As of the Fund’s most recent fiscal year end, stocks of companies within the information technology sector made up a significant portion of the Target Index. As a result, the performance of the Target Index, and therefore the performance of the Fund,</span><span style="font-family:Arial;font-size:9.5pt;line-height:10.3pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">may be impacted by the general condition of the information technology</span><span style="font-family:Arial;font-size:9.5pt;line-height:10.3pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">sector.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">ETF Share Trading</span><span style="font-family:Arial;font-size:9.5pt;font-weight:bold;">.</span><span style="font-family:Arial;font-size:9.5pt;"> Vanguard ETF Shares (“ETF Shares”) are an exchanged-traded class of shares issued by certain Vanguard funds that represent an interest in the portfolio of securities held by the issuing fund. The Fund’s ETF Shares are listed for trading on NYSE Arca and individual investors may only buy and sell them on the secondary market at market prices. Although it is expected that the market price of an ETF Share typically will approximate its net asset value (NAV), there may be times when the market price of an ETF Share and its NAV differ significantly. Disruptions to creation and redemption transactions, the existence of significant market volatility, or potential lack of an active trading market for ETF Shares (including through a trading halt), as well as other factors, may result in ETF Shares trading significantly above (at a premium) or below (at a discount) the Fund’s NAV or the intraday value of the Fund’s holdings. Thus, you may pay more or less than NAV when you buy ETF Shares on the secondary market, and you may receive more or less than NAV when you sell those shares.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Authorized Participants</span><span style="font-family:Arial;font-size:9.5pt;font-weight:bold;">.</span><span style="font-family:Arial;font-size:9.5pt;font-weight:bold;line-height:10.3pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">Only Authorized Participants may engage in creation or redemption transactions directly with the Fund.</span><span style="font-family:Arial;font-size:9.5pt;line-height:10.3pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">The Fund has a limited number of financial institutions that may act as Authorized Participants. The Fund’s Authorized Participants are not obligated to engage in creation or redemption transactions. To the extent that the Fund’s Authorized Participants are unable to or choose not to</span><span style="font-family:Arial;font-size:9.5pt;line-height:10.3pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">proceed with creation and/or redemption transactions with respect to the Fund and no other Authorized Participants step forward to engage in creation or redemption transactions with the Fund, the Fund’s ETF Shares may trade at</span><span style="font-family:Arial;font-size:9.5pt;line-height:10.3pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">a discount to NAV and possibly face trading halts and/or</span><span style="font-family:Arial;font-size:9.5pt;line-height:10.3pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">delisting.</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;font-weight:bold;">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.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Annual Total Returns</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">The following bar chart and table show the Fund’s historical performance and are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund’s ETF Shares (based on NAV) </span><span style="font-family:Arial;font-size:9.5pt;">has varied from one calendar year to another over the periods shown. The table shows how the average annual total returns of the ETF Shares compare with those of a broad-based securities market index and one or more additional indexes</span><span style="font-family:Arial;font-size:9.5pt;line-height:10.3pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">with similar investment characteristics as the Fund.</span><span style="font-family:Arial;font-size:9.5pt;"> Keep in mind that </span><span style="font-family:Arial;font-size:9.5pt;">the Fund’s past performance (before and after taxes) does not indicate how the Fund will perform in the future.</span><span style="font-family:Arial;font-size:9.5pt;"> Updated performance information is available on </span><span style="font-family:Arial;font-size:9.5pt;">our website at </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;">vanguard.com/performance</span><span style="font-family:Arial;font-size:9.5pt;">.</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">The following bar chart and table show the Fund’s historical performance and are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund’s ETF Shares (based on NAV) </span><span style="font-family:Arial;font-size:9.5pt;">has varied from one calendar year to another over the periods shown. The table shows how the average annual total returns of the ETF Shares compare with those of a broad-based securities market index and one or more additional indexes</span><span style="font-family:Arial;font-size:9.5pt;line-height:10.3pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">with similar investment characteristics as the Fund.</span> <span style="font-family:Arial;font-size:9.5pt;"> Keep in mind that </span><span style="font-family:Arial;font-size:9.5pt;">the Fund’s past performance (before and after taxes) does not indicate how the Fund will perform in the future.</span> <span style="font-family:Arial;font-size:9.5pt;font-style:italic;">vanguard.com/performance</span> <span style="font-family:Arial;font-size:8pt;font-weight:bold;">Annual Total Returns — Vanguard Total Stock Market Index Fund ETF Shares</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">During the periods shown in the bar chart, the highest and lowest returns for a calendar quarter were:</span> <span style="color:#000000;font-family:Arial;font-size:8pt;margin-left:0.0pt;">Highest</span> 0.2209 2020-06-30 <span style="color:#000000;font-family:Arial;font-size:8pt;margin-left:0.0pt;">Lowest</span> -0.2089 2020-03-31 <span style="font-family:Arial;font-size:8.5pt;font-weight:bold;">Average Annual Total Returns for Periods Ended December 31, 2025</span> 0.1714 0.1308 0.1425 0.1679 0.1269 0.1378 0.1034 0.1038 0.1185 0.1710 0.1306 0.1425 0.1715 0.1308 0.1425 0.1705 0.1307 0.1421 <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Actual after-tax returns depend on your tax situation and may differ from those shown in the preceding table. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">When after-tax returns are calculated, it is </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">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. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">Please note that after-tax returns are not relevant for a </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">shareholder who holds fund shares in a tax-deferred account, such as an </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">individual retirement account or a 401(k) plan. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">Also, figures captioned </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:italic;">Return After Taxes on Distributions and Sale of Fund Shares</span><span style="color:#000000;font-family:Arial;font-size:9.5pt;"> 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.</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">When after-tax returns are calculated, it is </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">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. </span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Please note that after-tax returns are not relevant for a </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">shareholder who holds fund shares in a tax-deferred account, such as an </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">individual retirement account or a 401(k) plan. </span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Also, figures captioned </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:italic;">Return After Taxes on Distributions and Sale of Fund Shares</span><span style="color:#000000;font-family:Arial;font-size:9.5pt;"> 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.</span> <span style="color:#000000;font-family:Arial;font-size:13pt;font-weight:bold;">Vanguard Extended Market ETF</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Investment Objective</span> <span style="font-family:Arial;font-size:9.5pt;">Vanguard Extended Market ETF, an exchange-traded share class of Vanguard Extended Market Stock Index Fund (the “Fund”), seeks to track the performance of a benchmark index that measures the investment return of small- and mid-capitalization stocks.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Fees and Expenses</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">The following tables describe the fees and expenses you may pay if you buy, hold, and sell ETF Shares of the Fund. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;font-weight:bold;">You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the tables and example below.</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Shareholder Fees</span> <br/><span style="color:#000000;font-family:Arial;font-size:8.5pt;">(Fees paid directly from your investment)</span> 0 0 0 <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Annual Fund Operating Expenses</span> <br/><span style="color:#000000;font-family:Arial;font-size:8.5pt;">(Expenses that you pay each year as a percentage of the value of your investment)</span> 0.0004 0 0.0001 0.0005 <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Example</span> <span style="font-family:Arial;font-size:9.5pt;">This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other funds. The example assumes that you invest $10,000 in the Fund for</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">the time periods indicated and then redeem all of your shares at the end of those periods. The example also assumes that your investment has a 5%</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">return each year</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">and that the Fund’s operating expenses remain the</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">same.</span> 5 16 28 64 <span style="color:#000000;font-family:Arial;font-size:9.5pt;">This example does not include the brokerage commissions that you may pay to buy and sell ETF Shares of the Fund.</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Portfolio Turnover</span> <span style="font-family:Arial;font-size:9.5pt;">The Fund pays transaction costs, such as commissions, 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 higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was </span><span style="font-family:Arial;font-size:9.5pt;">12</span><span style="font-family:Arial;font-size:9.5pt;">% of the average value of its portfolio.</span> 0.12 <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Principal Investment Strategies</span> <span style="font-family:Arial;font-size:9.5pt;">The Fund employs an indexing investment approach designed to track the performance of the S&amp;P Completion Index (the “Target Index”), a broadly diversified index of stocks of small and mid-size U.S. companies,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">as determined by the index</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">provider.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">Under normal circumstances,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">the Fund invests at least 80% of its net assets, plus the amount of any</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">borrowings for investment purposes, in the stocks that make up the Target Index. The Fund invests by sampling the Target Index, meaning that it holds a range of securities that, in the aggregate, approximates the full Target Index in terms of key risk</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">factors and other</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">characteristics.</span> <span style="font-family:Arial;font-size:9.5pt;">As with any investment, an investment in the Fund could lose money over any time</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">period.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">General Market Risk.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">The markets in which</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">the Fund invests can be affected by a variety of factors. These factors, which can be real or perceived,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">may include</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">economic, market, political,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">and regulatory conditions and developments as well as local,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">regional,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">or global events such as wars, military conflicts, natural disasters, and public health issues. In addition, investor sentiment and expectations regarding these factors can also impact the markets. Different parts of the market, including different industries and sectors as well as different types of securities, may react differently to factors that affect the market. These factors can contribute to market uncertainty, market volatility, and fluctuations in the value of the Fund’s investments, thereby resulting</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">in potential losses to the Fund over short or long</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">periods.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Investing in Equity Markets</span><span style="font-family:Arial;font-size:9.5pt;font-weight:bold;">.</span><span style="font-family:Arial;font-size:9.5pt;"> The Fund invests in the equity markets. Equity markets have historically been cyclical, having periods of time when stock values rise and fall. Market volatility can lead to significant fluctuations in stock values, resulting in potential losses to the Fund.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Market Capitalization</span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">(Market Cap).</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">Companies are generally classified into three types of market cap depending on their size: small-,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">mid-,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">and large-cap.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">Companies can be further classified into micro-</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">or mega-cap. Different factors can affect each market cap uniquely, and historically small- and mid-cap stocks have typically been more volatile due to the effects</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">of changing economic conditions. Large companies may not reach the same levels of growth or performance as smaller companies, and they may be slower to react to competitive challenges. The performance of funds that invest in a subset of market caps could</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">diverge from the</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">performance of a fund that is focused on a broader representation of the stock</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">market.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Index Investing</span><span style="font-family:Arial;font-size:9.5pt;font-weight:bold;">.</span><span style="font-family:Arial;font-size:9.5pt;"> The Fund is subject to risks associated with index investing. Because the Fund generally seeks to track the performance of the Target Index regardless of how the Target Index is performing, the Fund’s performance may be lower than it would be if it were actively managed. Additionally,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">because the Fund does not hold all of the securities included in the Target Index, it is subject to the risk that the representative sample of securities selected by the advisor will, in the aggregate, vary from the investment profile of the full Target Index. The performance of the Fund’s investments,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">in the aggregate,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">may not match the investment performance of the Target Index. This risk, known as tracking error risk, may be heightened during times of increased market volatility or under other unusual market conditions. The Fund also could be negatively impacted by changes to the Target Index made by the index provider or by errors made by the index provider. Any gains, losses, or costs associated with or resulting from an error made by the index provider will generally be borne by the Fund and, as a result, the Fund’s shareholders.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Concentration Risk.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">Except</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">as may be necessary to approximate the composition of its Target Index, the Fund will not concentrate its investments in the securities of issuers whose principal business activities are in the same industry or group of industries. If the Target Index becomes concentrated and the Fund</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">needs to concentrate in the same</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">industry or group of industries, its performance could be negatively impacted by the industry or industries</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">in which it is</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">concentrated.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">ETF Share Trading</span><span style="font-family:Arial;font-size:9.5pt;font-weight:bold;">.</span><span style="font-family:Arial;font-size:9.5pt;"> Vanguard ETF Shares (“ETF Shares”) are an exchanged-traded class of shares issued by certain Vanguard funds that represent an interest in the portfolio of securities held by the issuing fund. The Fund’s ETF Shares are listed for trading on NYSE Arca and individual investors may only buy and sell them on the secondary market at market prices. Although it is expected that the market price of an ETF Share typically will approximate its net asset value (NAV), there may be times when the market price of an ETF Share and its NAV differ significantly. Disruptions to creation and redemption transactions, the existence of significant market volatility, or potential lack of an active trading market for ETF Shares (including through a trading halt), as well as other factors, may result in ETF </span><span style="font-family:Arial;font-size:9.5pt;margin-left:0.0pt;">Shares trading significantly above (at a premium) or below (at a discount) the Fund’s NAV or the intraday value of the Fund’s holdings.</span><span style="font-family:Arial;font-size:9.5pt;"> Thus, you may pay </span><span style="font-family:Arial;font-size:9.5pt;margin-left:0.0pt;">more or less than NAV when you buy ETF Shares on the secondary market, and you may receive more or less than NAV when you sell those shares.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Authorized Participants</span><span style="font-family:Arial;font-size:9.5pt;font-weight:bold;">.</span><span style="font-family:Arial;font-size:9.5pt;font-weight:bold;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">Only Authorized Participants may engage in creation or redemption transactions directly with the Fund.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">The Fund has a limited number of financial institutions that may act as Authorized Participants. The Fund’s Authorized Participants are not obligated to engage in creation or redemption transactions. To the extent that the Fund’s Authorized Participants are unable to or choose not to</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">proceed with creation and/or redemption transactions with respect to the Fund and no other Authorized Participants step forward to engage in creation or redemption transactions with the Fund, the Fund’s ETF Shares may trade at</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">a discount to NAV and possibly face trading halts and/or</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">delisting.</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;font-weight:bold;">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.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Annual Total Returns</span> <span style="font-family:Arial;font-size:9.5pt;">The following bar chart and table show the Fund’s historical performance and are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund’s ETF Shares (based on NAV) has varied from one calendar year to another over the periods shown. The table shows how the average annual total returns of the ETF Shares compare with those of a broad-based securities market index and one or more</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">additional indexes with similar investment characteristics as the Fund.</span><span style="font-family:Arial;font-size:9.5pt;"> Keep in mind that </span><span style="font-family:Arial;font-size:9.5pt;">the Fund’s past performance (before and after taxes) does not indicate how the Fund will perform in the future.</span><span style="font-family:Arial;font-size:9.5pt;"> Updated performance information is available on </span><span style="font-family:Arial;font-size:9.5pt;">our website at </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;">vanguard.com/performance</span><span style="font-family:Arial;font-size:9.5pt;">.</span> <span style="font-family:Arial;font-size:9.5pt;">The following bar chart and table show the Fund’s historical performance and are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund’s ETF Shares (based on NAV) has varied from one calendar year to another over the periods shown. The table shows how the average annual total returns of the ETF Shares compare with those of a broad-based securities market index and one or more</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">additional indexes with similar investment characteristics as the Fund.</span> <span style="font-family:Arial;font-size:9.5pt;"> Keep in mind that </span><span style="font-family:Arial;font-size:9.5pt;">the Fund’s past performance (before and after taxes) does not indicate how the Fund will perform in the future.</span> <span style="font-family:Arial;font-size:9.5pt;font-style:italic;">vanguard.com/performance</span> <span style="font-family:Arial;font-size:8pt;font-weight:bold;">Annual Total Returns — Vanguard Extended Market Index Fund ETF Shares</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">During the periods shown in the bar chart, the highest and lowest returns for a calendar quarter were:</span> <span style="color:#000000;font-family:Arial;font-size:8pt;margin-left:0.0pt;">Highest</span> 0.3114 2020-06-30 <span style="color:#000000;font-family:Arial;font-size:8pt;margin-left:0.0pt;">Lowest</span> -0.2800 2020-03-31 <span style="font-family:Arial;font-size:8.5pt;font-weight:bold;">Average Annual Total Returns for Periods Ended December 31, 2025</span> 0.1141 0.0619 0.1101 0.1105 0.0585 0.1060 0.0692 0.0475 0.0898 0.1140 0.0619 0.1101 0.1132 0.0606 0.1089 0.1705 0.1307 0.1421 <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Actual after-tax returns depend on your tax situation and may differ from those shown in the preceding table. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">When after-tax returns are calculated, it is </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">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. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">Please note that after-tax returns are not relevant for a </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">Also, figures captioned </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:italic;">Return After Taxes on Distributions and Sale of Fund Shares</span><span style="color:#000000;font-family:Arial;font-size:9.5pt;"> 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.</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">When after-tax returns are calculated, it is </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">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. </span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Please note that after-tax returns are not relevant for a </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. </span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Also, figures captioned </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:italic;">Return After Taxes on Distributions and Sale of Fund Shares</span><span style="color:#000000;font-family:Arial;font-size:9.5pt;"> 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.</span> <span style="color:#000000;font-family:Arial;font-size:13pt;font-weight:bold;">Vanguard Large-Cap ETF</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Investment Objective</span> <span style="font-family:Arial;font-size:9.5pt;">Vanguard Large-Cap ETF, an exchange-traded share class of Vanguard Large-Cap Index Fund (the “Fund”), seeks to track the performance of a benchmark index that measures the investment return of </span> <br/><span style="font-family:Arial;font-size:9.5pt;">large-capitalization stocks.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Fees and Expenses</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">The following tables describe the fees and expenses you may pay if you buy, hold, and sell ETF Shares of the Fund. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;font-weight:bold;">You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the tables and example below.</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Shareholder Fees</span> <br/><span style="color:#000000;font-family:Arial;font-size:8.5pt;">(Fees paid directly from your investment)</span> 0 0 0 <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Annual Fund Operating Expenses</span> <br/><span style="color:#000000;font-family:Arial;font-size:8.5pt;">(Expenses that you pay each year as a percentage of the value of your investment)</span> 0.0002 0 0.0001 0.0003 <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Example</span> <span style="font-family:Arial;font-size:9.5pt;">This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other funds. The example assumes that you invest $10,000 in the Fund for</span><span style="font-family:Arial;font-size:9.5pt;line-height:10.3pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">the time periods indicated and then redeem all of your shares at the end of those periods. The example also assumes that your investment has a 5%</span><span style="font-family:Arial;font-size:9.5pt;line-height:10.3pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">return each year</span><span style="font-family:Arial;font-size:9.5pt;line-height:10.3pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">and that the Fund’s operating expenses remain the</span><span style="font-family:Arial;font-size:9.5pt;line-height:10.3pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">same.</span> 3 10 17 39 <span style="color:#000000;font-family:Arial;font-size:9.5pt;">This example does not include the brokerage commissions that you may pay to buy and sell ETF Shares of the Fund.</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Portfolio Turnover</span> <span style="font-family:Arial;font-size:9.5pt;">The Fund pays transaction costs, such as commissions, 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 higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was </span><span style="font-family:Arial;font-size:9.5pt;">3</span><span style="font-family:Arial;font-size:9.5pt;">% of the average value of its portfolio.</span> 0.03 <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Principal Investment Strategies</span> <span style="font-family:Arial;font-size:9.5pt;">The Fund employs an indexing investment approach designed to track the performance of the CRSP US Large Cap Index (the “Target Index”), a broadly diversified index of large U.S. companies representing approximately the top 85% of the U.S. investable market capitalization, as determined by the index provider. Under normal circumstances, the Fund invests at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in the stocks that make up the Target Index. The Fund attempts to replicate the Target Index by investing all, or substantially all, of its assets in the stocks that make up the Target Index, holding each stock in approximately the same proportion as its weighting in the Target Index.</span><span style="font-family:Arial;font-size:9.5pt;line-height:10.3pt;">The Fund may become nondiversified, as defined under the Investment Company Act of 1940, solely as a result of tracking an index. This could occur due to events such as an index rebalance or market movement. In addition, the Fund could become concentrated in an industry or group of industries if the Target Index becomes concentrated due to market conditions or the performance of a single or related group of issuers.</span> <span style="font-family:Arial;font-size:9.5pt;">As with any investment, an investment in the Fund could lose money over any time</span><span style="font-family:Arial;font-size:9.5pt;line-height:10.3pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">period.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">General Market Risk.</span><span style="font-family:Arial;font-size:9.5pt;line-height:10.3pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">The markets in which</span><span style="font-family:Arial;font-size:9.5pt;line-height:10.3pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">the Fund invests can be affected by a variety of factors. These factors, which can be real or perceived,</span><span style="font-family:Arial;font-size:9.5pt;line-height:10.3pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">may include</span><span style="font-family:Arial;font-size:9.5pt;line-height:10.3pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">economic, market, political,</span><span style="font-family:Arial;font-size:9.5pt;line-height:10.3pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">and regulatory conditions and developments as well as local,</span><span style="font-family:Arial;font-size:9.5pt;line-height:10.3pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">regional,</span><span style="font-family:Arial;font-size:9.5pt;line-height:10.3pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">or global events such as wars, military conflicts, natural disasters, and public health issues. In addition, investor sentiment and expectations regarding these factors can also impact the markets. Different parts of the market, including different industries and sectors as well as different types of securities, may react differently to factors that affect the market. These factors can contribute to market uncertainty, market volatility, and fluctuations in the value of the Fund’s investments, thereby resulting</span><span style="font-family:Arial;font-size:9.5pt;line-height:10.3pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">in potential losses to the Fund over short or long</span><span style="font-family:Arial;font-size:9.5pt;line-height:10.3pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">periods.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Investing in Equity Markets</span><span style="font-family:Arial;font-size:9.5pt;font-weight:bold;">.</span><span style="font-family:Arial;font-size:9.5pt;"> The Fund invests in the equity markets. Equity markets have historically been cyclical, having periods of time when stock values rise and fall. Market volatility can lead to significant fluctuations in stock values, resulting in potential losses to the Fund.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Market Capitalization (Market Cap).</span><span style="font-family:Arial;font-size:9.5pt;"> Companies are generally classified into three types of market cap depending on their size: small-, mid-,</span><span style="font-family:Arial;font-size:9.5pt;line-height:10.3pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">and large-cap.</span><span style="font-family:Arial;font-size:9.5pt;line-height:10.3pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">Companies can be further classified</span><span style="font-family:Arial;font-size:9.5pt;line-height:10.3pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">into micro- or mega-cap. Different factors can affect each market cap uniquely, and historically small- and mid-cap stocks have typically been more volatile due to the effects of changing economic conditions. Large companies may not reach the same levels of growth or performance as smaller companies,</span><span style="font-family:Arial;font-size:9.5pt;line-height:10.3pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">and they may be slower to react to competitive challenges. The performance of</span><span style="font-family:Arial;font-size:9.5pt;line-height:10.3pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">funds that invest in a subset of market caps could diverge from the performance</span><span style="font-family:Arial;font-size:9.5pt;line-height:10.3pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">of a fund that is focused on a broader representation of the stock</span><span style="font-family:Arial;font-size:9.5pt;line-height:10.3pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">market.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Index Investing</span><span style="font-family:Arial;font-size:9.5pt;font-weight:bold;">.</span><span style="font-family:Arial;font-size:9.5pt;"> The Fund is subject to risks associated with index investing. Because the Fund generally seeks to track the performance of the Target Index regardless of how the Target Index is performing, the Fund’s performance may be lower than it would be if it were actively managed. Although the Fund seeks to hold substantially all of the securities included in the Target Index, it may be unable to do so. In addition, the Fund could be prevented from holding one or more securities in the same proportion as in the Target Index. The performance of the Fund’s investments,</span><span style="font-family:Arial;font-size:9.5pt;line-height:10.3pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">in the aggregate,</span><span style="font-family:Arial;font-size:9.5pt;line-height:10.3pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">may not match the investment performance of the Target Index. This risk, known as tracking error risk, may be heightened during times of increased market volatility or under other unusual market conditions. The Fund also could be negatively impacted by changes to the Target Index made by the index provider or by errors made by the index provider. Any gains, losses, or costs associated with or resulting from an error made by the index provider will generally be borne by the Fund and, as a result, the Fund’s shareholders.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Nondiversification.</span><span style="font-family:Arial;font-size:9.5pt;line-height:10.3pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">By tracking its broad-based Target Index, the Fund could become nondiversified, as defined under the Investment Company Act of 1940, due to events such as an index rebalance or market movement. The performance of nondiversified funds may be negatively impacted by relatively few securities or even a single security and their shares may experience significant fluctuations in value.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Concentration Risk.</span><span style="font-family:Arial;font-size:9.5pt;line-height:10.3pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">Except as may be necessary to approximate the composition of its Target Index, the Fund will not concentrate its investments in the securities of issuers whose principal business activities are in the same industry or group of industries. If the Target Index becomes concentrated and the Fund needs to concentrate in the same industry or group of industries, its performance could be</span><span style="font-family:Arial;font-size:9.5pt;line-height:10.3pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">negatively impacted by the industry or industries in which it is</span><span style="font-family:Arial;font-size:9.5pt;line-height:10.3pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">concentrated.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Information Technology Sector.</span><span style="font-family:Arial;font-size:9.5pt;line-height:10.3pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">As of the Fund’s most recent fiscal year end, stocks of companies within the information technology sector made up a significant portion of the Target Index. As a result, the performance of the Target Index, and therefore the performance of the Fund,</span><span style="font-family:Arial;font-size:9.5pt;line-height:10.3pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">may be impacted by the general condition of the information technology</span><span style="font-family:Arial;font-size:9.5pt;line-height:10.3pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">sector.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">ETF Share Trading</span><span style="font-family:Arial;font-size:9.5pt;font-weight:bold;">.</span><span style="font-family:Arial;font-size:9.5pt;"> Vanguard ETF Shares (“ETF Shares”) are an exchanged-traded class of shares issued by certain Vanguard funds that represent an interest in the portfolio of securities held by the issuing fund. The Fund’s ETF Shares are listed for trading on NYSE Arca and individual investors may only buy and sell them on the secondary market at market </span><span style="font-family:Arial;font-size:9.5pt;margin-left:0.0pt;">prices. Although it is expected that the market price of an ETF Share typically will approximate its net asset value (NAV), there may be times when the market price </span><span style="font-family:Arial;font-size:9.5pt;">of an ETF Share and its NAV differ significantly. Disruptions to </span><span style="font-family:Arial;font-size:9.5pt;margin-left:0.0pt;">creation and redemption transactions, the existence of significant market volatility, or potential lack of an active trading market for ETF Shares (including through a trading halt), as well as other factors, may result in ETF Shares trading significantly above (at a premium) or below (at a discount) the Fund’s NAV or the intraday value of the Fund’s holdings.</span><span style="font-family:Arial;font-size:9.5pt;"> Thus, you may pay </span><span style="font-family:Arial;font-size:9.5pt;margin-left:0.0pt;">more or less than NAV when you buy ETF Shares on the secondary market, and you may receive more or less than NAV when you sell those shares.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Authorized Participants</span><span style="font-family:Arial;font-size:9.5pt;font-weight:bold;">.</span><span style="font-family:Arial;font-size:9.5pt;font-weight:bold;line-height:10.3pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">Only Authorized Participants may engage in creation or redemption transactions directly with the Fund.</span><span style="font-family:Arial;font-size:9.5pt;line-height:10.3pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">The Fund has a limited number of financial institutions that may act as Authorized Participants. The Fund’s Authorized Participants are not obligated to engage in creation or redemption transactions. To the extent that the Fund’s Authorized Participants are unable to or choose not to</span><span style="font-family:Arial;font-size:9.5pt;line-height:10.3pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">proceed with creation and/or redemption transactions with respect to the Fund and no other Authorized Participants step forward to engage in creation or redemption transactions with the Fund, the Fund’s ETF Shares may trade at</span><span style="font-family:Arial;font-size:9.5pt;line-height:10.3pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">a discount to NAV and possibly face trading halts and/or</span><span style="font-family:Arial;font-size:9.5pt;line-height:10.3pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">delisting.</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;font-weight:bold;">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.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Annual Total Returns</span> <span style="font-family:Arial;font-size:9.5pt;">The following bar chart and table show the Fund’s historical performance and are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund’s ETF Shares (based on NAV) has varied from one calendar year to another over the periods shown. The table shows how the average annual total returns of the ETF Shares compare with those of a broad-based securities market index and one or more additional indexes</span><span style="font-family:Arial;font-size:9.5pt;line-height:10.3pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">with similar investment characteristics as the Fund.</span><span style="font-family:Arial;font-size:9.5pt;"> Keep in mind that </span><span style="font-family:Arial;font-size:9.5pt;">the Fund’s past performance (before and after taxes) does not indicate how the Fund will perform in the future.</span><span style="font-family:Arial;font-size:9.5pt;"> Updated performance information is available on </span><span style="font-family:Arial;font-size:9.5pt;">our website at </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;">vanguard.com/performance</span><span style="font-family:Arial;font-size:9.5pt;">.</span> <span style="font-family:Arial;font-size:9.5pt;">The following bar chart and table show the Fund’s historical performance and are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund’s ETF Shares (based on NAV) has varied from one calendar year to another over the periods shown. The table shows how the average annual total returns of the ETF Shares compare with those of a broad-based securities market index and one or more additional indexes</span><span style="font-family:Arial;font-size:9.5pt;line-height:10.3pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">with similar investment characteristics as the Fund.</span> <span style="font-family:Arial;font-size:9.5pt;"> Keep in mind that </span><span style="font-family:Arial;font-size:9.5pt;">the Fund’s past performance (before and after taxes) does not indicate how the Fund will perform in the future.</span> <span style="font-family:Arial;font-size:9.5pt;font-style:italic;">vanguard.com/performance</span> <span style="font-family:Arial;font-size:8pt;font-weight:bold;">Annual Total Returns — Vanguard Large-Cap Index Fund ETF Shares</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">During the periods shown in the bar chart, the highest and lowest returns for a calendar quarter were:</span> <span style="color:#000000;font-family:Arial;font-size:8pt;margin-left:0.0pt;">Highest</span> 0.2140 2020-06-30 <span style="color:#000000;font-family:Arial;font-size:8pt;margin-left:0.0pt;">Lowest</span> -0.1945 2020-03-31 <span style="font-family:Arial;font-size:8.5pt;font-weight:bold;">Average Annual Total Returns for Periods Ended December 31, 2025</span> 0.1810 0.1392 0.1479 0.1777 0.1355 0.1433 0.1091 0.1109 0.1235 0.1810 0.1391 0.1479 0.1814 0.1395 0.1483 0.1705 0.1307 0.1421 <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Actual after-tax returns depend on your tax situation and may differ from those shown in the preceding table. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">When after-tax returns are calculated, it is </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">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. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">Please note that after-tax returns are not relevant for a </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">Also, figures captioned </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:italic;">Return After Taxes on Distributions and Sale of Fund Shares</span><span style="color:#000000;font-family:Arial;font-size:9.5pt;"> 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.</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">When after-tax returns are calculated, it is </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">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. </span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Please note that after-tax returns are not relevant for a </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. </span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Also, figures captioned </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:italic;">Return After Taxes on Distributions and Sale of Fund Shares</span><span style="color:#000000;font-family:Arial;font-size:9.5pt;"> 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.</span> <span style="color:#000000;font-family:Arial;font-size:13pt;font-weight:bold;">Vanguard Mid-Cap ETF</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Investment Objective</span> <span style="font-family:Arial;font-size:9.5pt;">Vanguard Mid-Cap ETF, an exchange-traded share class of Vanguard Mid-Cap Index Fund (the “Fund”), seeks to track the performance of a benchmark index that measures the investment return of mid-capitalization stocks.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Fees and Expenses</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">The following tables describe the fees and expenses you may pay if you buy, hold, and sell ETF Shares of the Fund. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;font-weight:bold;">You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the tables and example below.</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Shareholder Fees</span> <br/><span style="color:#000000;font-family:Arial;font-size:8.5pt;">(Fees paid directly from your investment)</span> 0 0 0 <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Annual Fund Operating Expenses</span> <br/><span style="color:#000000;font-family:Arial;font-size:8.5pt;">(Expenses that you pay each year as a percentage of the value of your investment)</span> 0.0002 0 0.0001 0.0003 <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Example</span> <span style="font-family:Arial;font-size:9.5pt;">This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other funds. The example assumes that you invest $10,000 in the Fund for</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">the time periods indicated and then redeem all of your shares at the end of those periods. The example also assumes that your investment has a 5%</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">return each year</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">and that the Fund’s operating expenses remain the</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">same.</span> 3 10 17 39 <span style="color:#000000;font-family:Arial;font-size:9.5pt;">This example does not include the brokerage commissions that you may pay to buy and sell ETF Shares of the Fund.</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Portfolio Turnover</span> <span style="font-family:Arial;font-size:9.5pt;">The Fund pays transaction costs, such as commissions, 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 higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was </span><span style="font-family:Arial;font-size:9.5pt;">16</span><span style="font-family:Arial;font-size:9.5pt;">% of the average value of its portfolio.</span> 0.16 <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Principal Investment Strategies</span> <span style="font-family:Arial;font-size:9.5pt;">The Fund employs an indexing investment approach designed to track the performance of the CRSP US Mid Cap Index (the “Target Index”), a broadly diversified index of stocks of mid-size U.S. companies, as determined by the index provider. Under normal circumstances, the Fund invests at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in the stocks that make up the Target Index. The Fund attempts to replicate the Target Index by investing all, or substantially all, of its assets in the stocks that make up the Target Index, holding each stock in approximately the same proportion as its weighting in the Target Index.</span> <span style="font-family:Arial;font-size:9.5pt;">As with any investment, an investment in the Fund could lose money over any time</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">period.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">General Market Risk.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">The markets in which</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">the Fund invests can be affected by a variety of factors. These factors, which can be real or perceived,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">may include</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">economic, market, political,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">and regulatory conditions and developments as well as local,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">regional,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">or global events such as wars, military conflicts, natural disasters, and public health issues. In addition, investor sentiment and expectations regarding these factors can also impact the markets. Different parts of the market, including different industries and sectors as well as different types of securities, may react differently to factors that affect the market. These factors can contribute to market uncertainty, market volatility, and fluctuations in the value of the Fund’s investments, thereby resulting</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">in potential losses to the Fund over short or long</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">periods.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Investing in Equity Markets</span><span style="font-family:Arial;font-size:9.5pt;font-weight:bold;">.</span><span style="font-family:Arial;font-size:9.5pt;"> The Fund invests in the equity markets. Equity markets have historically been cyclical, having periods of time when stock values rise and fall. Market volatility can lead to significant fluctuations in stock values, resulting in potential losses to the Fund.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Market Capitalization (Market Cap).</span><span style="font-family:Arial;font-size:9.5pt;"> Companies are generally classified into three types of market cap depending on their size: small-, mid-,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">and large-cap.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">Companies can be further classified into micro-</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">or mega-cap. Different factors can affect each market cap uniquely, and historically small- and mid-cap stocks have typically been more volatile due to the effects</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">of changing economic conditions. Large companies may not reach the same levels of growth or performance as smaller companies, and they may be slower to react to competitive challenges. The performance of funds that invest in a subset of market</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">caps could diverge</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">from the performance of a fund that is focused on a broader representation of the stock</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">market.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Index Investing</span><span style="font-family:Arial;font-size:9.5pt;font-weight:bold;">.</span><span style="font-family:Arial;font-size:9.5pt;"> The Fund is subject to risks associated with index investing. Because the Fund generally seeks to track the performance of the Target Index regardless of how the Target Index is performing, the Fund’s performance may be lower than it would be if it were actively managed. Although the Fund seeks to hold substantially all of the securities included in the Target Index, it may be unable to do so. In addition, the Fund could be prevented from holding one or more securities in the same proportion as in the Target Index. The performance of the Fund’s investments,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">in the aggregate,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">may not match the investment performance of the Target Index. This risk, known as tracking error risk, may be heightened during times of increased market volatility or under other unusual market conditions. The Fund also could be negatively impacted by changes to the Target Index made by the index provider or by errors made by the index provider. Any gains, losses, or costs associated with or resulting from an error made by the index provider will generally be borne by the Fund and, as a result, the Fund’s shareholders.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Concentration Risk.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">Except as may be necessary to approximate the composition of its Target Index, the Fund will not concentrate its investments in the securities of issuers whose principal business activities are in the same industry or group of industries.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">If the Target Index becomes concentrated and the Fund needs to concentrate in the same industry or group of industries, its performance could be negatively impacted by the industry or industries in which it is</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">concentrated.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">ETF Share Trading</span><span style="font-family:Arial;font-size:9.5pt;font-weight:bold;">.</span><span style="font-family:Arial;font-size:9.5pt;"> Vanguard ETF Shares (“ETF Shares”) are an exchanged-traded class of shares issued by certain Vanguard funds that represent an interest in the portfolio of securities held by the issuing fund. The Fund’s ETF Shares are listed for trading on NYSE Arca and individual investors may only buy and sell them on the secondary market at market prices. Although it is expected that the market price of an ETF Share typically will approximate its net asset value (NAV), there may be times when the market price of an ETF Share and its NAV differ significantly. Disruptions to creation and redemption transactions, the existence of significant market volatility, or potential lack of an active trading market for ETF Shares (including through a trading halt), as well as other factors, may result in ETF </span><span style="font-family:Arial;font-size:9.5pt;margin-left:0.0pt;">Shares trading significantly above (at a premium) or below (at a discount) the Fund’s NAV or the intraday value of the Fund’s holdings.</span><span style="font-family:Arial;font-size:9.5pt;"> Thus, you may pay </span><span style="font-family:Arial;font-size:9.5pt;margin-left:0.0pt;">more or less than NAV when you buy ETF Shares on the secondary market, and you may receive more or less than NAV when you sell those shares.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Authorized Participants</span><span style="font-family:Arial;font-size:9.5pt;font-weight:bold;">.</span><span style="font-family:Arial;font-size:9.5pt;font-weight:bold;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">Only Authorized Participants may engage in creation or redemption transactions directly with the Fund.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">The Fund has a limited number of financial institutions that may act as Authorized Participants. The Fund’s Authorized Participants are not obligated to engage in creation or redemption transactions. To the extent that the Fund’s Authorized Participants are unable to or choose not to</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">proceed with creation and/or redemption transactions with respect to the Fund and no other Authorized Participants step forward to engage in creation or redemption transactions with the Fund, the Fund’s ETF Shares may trade at</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">a discount to NAV and possibly face trading halts and/or</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">delisting.</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;font-weight:bold;">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.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Annual Total Returns</span> <span style="font-family:Arial;font-size:9.5pt;">The following bar chart and table show the Fund’s historical performance and are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund’s ETF Shares (based on NAV) has varied from one calendar year to another over the periods shown. The table shows how the average annual total returns of the ETF Shares compare with those of a broad-based securities market index and one or more additional indexes</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">with similar investment characteristics as the Fund.</span><span style="font-family:Arial;font-size:9.5pt;"> Keep in mind that </span><span style="font-family:Arial;font-size:9.5pt;">the Fund’s past performance (before and after taxes) does not indicate how the Fund will perform in the future.</span><span style="font-family:Arial;font-size:9.5pt;"> Updated performance information is available on </span><span style="font-family:Arial;font-size:9.5pt;">our website at </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;">vanguard.com/performance</span><span style="font-family:Arial;font-size:9.5pt;">.</span> <span style="font-family:Arial;font-size:9.5pt;">The following bar chart and table show the Fund’s historical performance and are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund’s ETF Shares (based on NAV) has varied from one calendar year to another over the periods shown. The table shows how the average annual total returns of the ETF Shares compare with those of a broad-based securities market index and one or more additional indexes</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">with similar investment characteristics as the Fund.</span> <span style="font-family:Arial;font-size:9.5pt;"> Keep in mind that </span><span style="font-family:Arial;font-size:9.5pt;">the Fund’s past performance (before and after taxes) does not indicate how the Fund will perform in the future.</span> <span style="font-family:Arial;font-size:9.5pt;font-style:italic;">vanguard.com/performance</span> <span style="font-family:Arial;font-size:8pt;font-weight:bold;">Annual Total Returns — Vanguard Mid-Cap Index Fund ETF Shares</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">During the periods shown in the bar chart, the highest and lowest returns for a calendar quarter were:</span> <span style="color:#000000;font-family:Arial;font-size:8pt;margin-left:0.0pt;">Highest</span> 0.2496 2020-06-30 <span style="color:#000000;font-family:Arial;font-size:8pt;margin-left:0.0pt;">Lowest</span> -0.2574 2020-03-31 <span style="font-family:Arial;font-size:8.5pt;font-weight:bold;">Average Annual Total Returns for Periods Ended December 31, 2025</span> 0.1168 0.0861 0.1092 0.1124 0.0820 0.1048 0.0717 0.0671 0.0892 0.1162 0.0861 0.1092 0.1170 0.0862 0.1094 0.1705 0.1307 0.1421 <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Actual after-tax returns depend on your tax situation and may differ from those shown in the preceding table. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">When after-tax returns are calculated, it is </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">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. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">Please note that after-tax returns are not relevant for a </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">Also, figures captioned </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:italic;">Return After Taxes on Distributions and Sale of Fund Shares</span><span style="color:#000000;font-family:Arial;font-size:9.5pt;"> 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.</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">When after-tax returns are calculated, it is </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">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. </span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Please note that after-tax returns are not relevant for a </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. </span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Also, figures captioned </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:italic;">Return After Taxes on Distributions and Sale of Fund Shares</span><span style="color:#000000;font-family:Arial;font-size:9.5pt;"> 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.</span> <span style="color:#000000;font-family:Arial;font-size:13pt;font-weight:bold;">Vanguard Small-Cap ETF</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Investment Objective</span> <span style="font-family:Arial;font-size:9.5pt;">Vanguard Small-Cap ETF, an exchange-traded share class of Vanguard Small-Cap Index Fund (the “Fund”), seeks to track the performance of a benchmark index that measures the investment return of small-capitalization stocks.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Fees and Expenses</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">The following tables describe the fees and expenses you may pay if you buy, hold, and sell ETF Shares of the Fund. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;font-weight:bold;">You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the tables and example below.</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Shareholder Fees</span> <br/><span style="color:#000000;font-family:Arial;font-size:8.5pt;">(Fees paid directly from your investment)</span> 0 0 0 <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Annual Fund Operating Expenses</span> <br/><span style="color:#000000;font-family:Arial;font-size:8.5pt;">(Expenses that you pay each year as a percentage of the value of your investment)</span> 0.0002 0 0.0001 0.0003 <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Example</span> <span style="font-family:Arial;font-size:9.5pt;">This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other funds. The example assumes that you invest $10,000 in the Fund for</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">the time periods indicated and then redeem all of your shares at the end of those periods. The example also assumes that your investment has a 5%</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">return each year</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">and that the Fund’s operating expenses remain the</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">same.</span> 3 10 17 39 <span style="color:#000000;font-family:Arial;font-size:9.5pt;">This example does not include the brokerage commissions that you may pay to buy and sell ETF Shares of the Fund.</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Portfolio Turnover</span> <span style="font-family:Arial;font-size:9.5pt;">The Fund pays transaction costs, such as commissions, 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 higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was </span><span style="font-family:Arial;font-size:9.5pt;">17</span><span style="font-family:Arial;font-size:9.5pt;">% of the average value of its portfolio.</span> 0.17 <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Principal Investment Strategies</span> <span style="font-family:Arial;font-size:9.5pt;">The Fund employs an indexing investment approach designed to track the performance of the CRSP US Small Cap Index (the “Target Index”), a broadly diversified index of stocks of small U.S. companies, as determined by the index provider. Under normal circumstances, the Fund invests at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in the stocks that make up the Target Index. The Fund attempts to replicate the Target Index by investing all, or substantially all, of its assets in the stocks that make up the Target Index, holding each stock in approximately the same proportion as its weighting in the Target Index.</span> <span style="font-family:Arial;font-size:9.5pt;">As with any investment, an investment in the Fund could lose money over any time</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">period.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">General Market Risk.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">The markets in which</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">the Fund invests can be affected by a variety of factors. These factors, which can be real or perceived,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">may include</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">economic, market, political,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">and regulatory conditions and developments as well as local,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">regional,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">or global events such as wars, military conflicts, natural disasters, and public health issues. In addition, investor sentiment and expectations regarding these factors can also impact the markets. Different parts of the market, including different industries and sectors as well as different types of securities, may react differently to factors that affect the market. These factors can contribute to market uncertainty, market volatility, and fluctuations in the value of the Fund’s investments, thereby resulting</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">in potential losses to the Fund over short or long</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">periods.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Investing in Equity Markets</span><span style="font-family:Arial;font-size:9.5pt;font-weight:bold;">.</span><span style="font-family:Arial;font-size:9.5pt;"> The Fund invests in the equity markets. Equity markets have historically been cyclical, having periods of time when stock values rise and fall. Market volatility can lead to significant fluctuations in stock values, resulting in potential losses to the Fund.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Market Capitalization</span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">(Market Cap).</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">Companies are generally classified into three types of market cap depending on their size:</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">small-,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">mid-,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">and large-cap.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">Companies can be further classified into micro- or mega-cap. Different factors can affect each market cap uniquely, and historically small- and mid-cap stocks have typically been more volatile due to the effects of changing economic conditions. Large companies may not reach the same levels of growth or performance as smaller companies, and they may be slower to react to competitive challenges. The performance of funds that invest in a subset of market</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">caps could diverge</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">from the performance of a fund that is focused on a broader representation of the stock</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">market.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Index Investing</span><span style="font-family:Arial;font-size:9.5pt;font-weight:bold;">.</span><span style="font-family:Arial;font-size:9.5pt;"> The Fund is subject to risks associated with index investing. Because the Fund generally seeks to track the performance of the Target Index regardless of how the Target Index is performing, the Fund’s performance may be lower than it would be if it were actively managed. Although the Fund seeks to hold substantially all of the securities included in the Target Index, it may be unable to do so. In addition, the Fund could be prevented from holding one or more securities in the same proportion as in the Target Index. The performance of the Fund’s investments,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">in the aggregate,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">may not match the investment performance of the Target Index. This risk, known as tracking error risk, may be heightened during times of increased market volatility or under other unusual market conditions. The Fund also could be negatively impacted by changes to the Target Index made by the index provider or by errors made by the index provider. Any gains, losses, or costs associated with or resulting from an error made by the index provider will generally be borne by the Fund and, as a result, the Fund’s shareholders.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Concentration Risk.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">Except as may be necessary to approximate the composition of its Target Index, the Fund will not concentrate its investments in the securities of issuers whose principal business activities are in the same industry or group of industries.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">If the Target Index becomes concentrated and the Fund needs to concentrate in the same industry or group of industries, its performance could be negatively impacted by the industry or industries in which it is</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">concentrated.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">ETF Share Trading</span><span style="font-family:Arial;font-size:9.5pt;font-weight:bold;">.</span><span style="font-family:Arial;font-size:9.5pt;"> Vanguard ETF Shares (“ETF Shares”) are an exchanged-traded class of shares issued by certain Vanguard funds that represent an interest in the portfolio of securities held by the issuing fund. The Fund’s ETF Shares are listed for trading on NYSE Arca and individual investors may only buy and sell them on the secondary market at market prices. Although it is expected that the market price of an ETF Share typically will approximate its net asset value (NAV), there may be times when the market price of an ETF Share and its NAV differ significantly. Disruptions to creation and redemption transactions, the existence of significant market volatility, or potential lack of an active trading market for ETF Shares (including through a trading halt), as well as other factors, may result in ETF </span><span style="font-family:Arial;font-size:9.5pt;margin-left:0.0pt;">Shares trading significantly above (at a premium) or below (at a discount) the Fund’s NAV or the intraday value of the Fund’s holdings.</span><span style="font-family:Arial;font-size:9.5pt;"> Thus, you may pay </span><span style="font-family:Arial;font-size:9.5pt;margin-left:0.0pt;">more or less than NAV when you buy ETF Shares on the secondary market, and you may receive more or less than NAV when you sell those shares.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Authorized Participants</span><span style="font-family:Arial;font-size:9.5pt;font-weight:bold;">.</span><span style="font-family:Arial;font-size:9.5pt;font-weight:bold;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">Only Authorized Participants may engage in creation or redemption transactions directly with the Fund.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">The Fund has a limited number of financial institutions that may act as Authorized Participants. The Fund’s Authorized Participants are not obligated to engage in creation or redemption transactions. To the extent that the Fund’s Authorized Participants are unable to or choose not to</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">proceed with creation and/or redemption transactions with respect to the Fund and no other Authorized Participants step forward to engage in creation or redemption transactions with the Fund, the Fund’s ETF Shares may trade at</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">a discount to NAV and possibly face trading halts and/or</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">delisting.</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;font-weight:bold;">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.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Annual Total Returns</span> <span style="font-family:Arial;font-size:9.5pt;">The following bar chart and table show the Fund’s historical performance and are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund’s ETF Shares (based on NAV) has varied from one calendar year to another over the periods shown. The table shows how the average annual total returns of the ETF Shares compare with those of a broad-based securities market index and one or more additional indexes</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">with similar investment characteristics as the Fund.</span><span style="font-family:Arial;font-size:9.5pt;"> Keep in mind that </span><span style="font-family:Arial;font-size:9.5pt;">the Fund’s past performance (before and after taxes) does not indicate how the Fund will perform in the future.</span><span style="font-family:Arial;font-size:9.5pt;"> Updated performance information is available on </span><span style="font-family:Arial;font-size:9.5pt;">our website at </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;">vanguard.com/performance</span><span style="font-family:Arial;font-size:9.5pt;">.</span> <span style="font-family:Arial;font-size:9.5pt;">The following bar chart and table show the Fund’s historical performance and are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund’s ETF Shares (based on NAV) has varied from one calendar year to another over the periods shown. The table shows how the average annual total returns of the ETF Shares compare with those of a broad-based securities market index and one or more additional indexes</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">with similar investment characteristics as the Fund.</span> <span style="font-family:Arial;font-size:9.5pt;"> Keep in mind that </span><span style="font-family:Arial;font-size:9.5pt;">the Fund’s past performance (before and after taxes) does not indicate how the Fund will perform in the future.</span> <span style="font-family:Arial;font-size:9.5pt;font-style:italic;">vanguard.com/performance</span> <span style="font-family:Arial;font-size:8pt;font-weight:bold;">Annual Total Returns — Vanguard Small-Cap Index Fund ETF Shares</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">During the periods shown in the bar chart, the highest and lowest returns for a calendar quarter were:</span> <span style="color:#000000;font-family:Arial;font-size:8pt;margin-left:0.0pt;">Highest</span> 0.2710 2020-12-31 <span style="color:#000000;font-family:Arial;font-size:8pt;margin-left:0.0pt;">Lowest</span> -0.3008 2020-03-31 <span style="font-family:Arial;font-size:8.5pt;font-weight:bold;">Average Annual Total Returns for Periods Ended December 31, 2025</span> 0.0883 0.0735 0.1043 0.0843 0.0693 0.0998 0.0542 0.0567 0.0847 0.0887 0.0734 0.1043 0.0882 0.0731 0.1040 0.1705 0.1307 0.1421 <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Actual after-tax returns depend on your tax situation and may differ from those shown in the preceding table. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">When after-tax returns are calculated, it is </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">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. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">Please note that after-tax returns are not relevant for a </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">Also, figures captioned </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:italic;">Return After Taxes on Distributions and Sale of Fund Shares</span><span style="color:#000000;font-family:Arial;font-size:9.5pt;"> 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.</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">When after-tax returns are calculated, it is </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">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. </span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Please note that after-tax returns are not relevant for a </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. </span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Also, figures captioned </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:italic;">Return After Taxes on Distributions and Sale of Fund Shares</span><span style="color:#000000;font-family:Arial;font-size:9.5pt;"> 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.</span> <span style="color:#000000;font-family:Arial;font-size:13pt;font-weight:bold;">Vanguard Value ETF</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Investment Objective</span> <span style="font-family:Arial;font-size:9.5pt;">Vanguard Value ETF, an exchange-traded share class of Vanguard Value Index Fund (the “Fund”), seeks to track the performance of a benchmark index that measures the investment return of large-capitalization value stocks.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Fees and Expenses</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">The following tables describe the fees and expenses you may pay if you buy, hold, and sell ETF Shares of the Fund. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;font-weight:bold;">You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the tables and example below.</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Shareholder Fees</span> <br/><span style="color:#000000;font-family:Arial;font-size:8.5pt;">(Fees paid directly from your investment)</span> 0 0 0 <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Annual Fund Operating Expenses</span> <br/><span style="color:#000000;font-family:Arial;font-size:8.5pt;">(Expenses that you pay each year as a percentage of the value of your investment)</span> 0.0002 0 0.0001 0.0003 <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Example</span> <span style="font-family:Arial;font-size:9.5pt;">This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other funds. The example assumes that you invest $10,000 in the Fund for</span><span style="font-family:Arial;font-size:9.5pt;line-height:10.3pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">the time periods indicated and then redeem all of your shares at the end of those periods. The example also assumes that your investment has a 5%</span><span style="font-family:Arial;font-size:9.5pt;line-height:10.3pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">return each year</span><span style="font-family:Arial;font-size:9.5pt;line-height:10.3pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">and that the Fund’s operating expenses remain the</span><span style="font-family:Arial;font-size:9.5pt;line-height:10.3pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">same.</span> 3 10 17 39 <span style="color:#000000;font-family:Arial;font-size:9.5pt;">This example does not include the brokerage commissions that you may pay to buy and sell ETF Shares of the Fund.</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Portfolio Turnover</span> <span style="font-family:Arial;font-size:9.5pt;">The Fund pays transaction costs, such as commissions, 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 higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was </span><span style="font-family:Arial;font-size:9.5pt;">8</span><span style="font-family:Arial;font-size:9.5pt;">% of the average value of its portfolio.</span> 0.08 <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Principal Investment Strategies</span> <span style="font-family:Arial;font-size:9.5pt;">The Fund employs an indexing investment approach designed to track the performance of the CRSP US Large Cap Value Index (the “Target Index”), a broadly diversified index made up of the value stocks of large U.S. companies, as determined by the index provider. Under normal circumstances, the Fund invests at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in the stocks that make up the Target Index. The Fund attempts to replicate the Target Index by investing all, or substantially all, of its assets in the stocks that make up the Target Index, holding each stock in approximately the same proportion as its weighting in the Target Index.</span> <span style="font-family:Arial;font-size:9.5pt;">As with any investment, an investment in the Fund could lose money over any time</span><span style="font-family:Arial;font-size:9.5pt;line-height:10.3pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">period.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">General Market Risk.</span><span style="font-family:Arial;font-size:9.5pt;line-height:10.3pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">The markets in which</span><span style="font-family:Arial;font-size:9.5pt;line-height:10.3pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">the Fund invests can be affected by a variety of factors. These factors, which can be real or perceived,</span><span style="font-family:Arial;font-size:9.5pt;line-height:10.3pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">may include</span><span style="font-family:Arial;font-size:9.5pt;line-height:10.3pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">economic, market, political,</span><span style="font-family:Arial;font-size:9.5pt;line-height:10.3pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">and regulatory conditions and developments as well as local,</span><span style="font-family:Arial;font-size:9.5pt;line-height:10.3pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">regional,</span><span style="font-family:Arial;font-size:9.5pt;line-height:10.3pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">or global events such as wars, military conflicts, natural disasters, and public health issues. In addition, investor sentiment and expectations regarding these factors can also impact the markets. Different parts of the market, including different industries and sectors as well as different types of securities, may react differently to factors that affect the market. These factors can contribute to market uncertainty, market volatility, and fluctuations in the value of the Fund’s investments, thereby resulting</span><span style="font-family:Arial;font-size:9.5pt;line-height:10.3pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">in potential losses to the Fund over short or long</span><span style="font-family:Arial;font-size:9.5pt;line-height:10.3pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">periods.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Investing in Equity Markets</span><span style="font-family:Arial;font-size:9.5pt;font-weight:bold;">.</span><span style="font-family:Arial;font-size:9.5pt;"> The Fund invests in the equity markets. Equity markets have historically been cyclical, having periods of time when stock values rise and fall. Market volatility can lead to significant fluctuations in stock values, resulting in potential losses to the Fund.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Market Capitalization (Market Cap).</span><span style="font-family:Arial;font-size:9.5pt;"> Companies are generally classified into three types of market cap depending on their size: small-, mid-, and large-cap. Companies can be further classified into micro- or mega-cap. Different factors can affect each market cap uniquely, and historically small- and mid-cap stocks have typically been more volatile due to the effects of changing economic conditions. Large companies may not reach the same levels of growth or performance as smaller companies, and they may be slower to react to competitive challenges. The performance of funds that </span><span style="font-family:Arial;font-size:9.5pt;margin-left:0.0pt;">invest in a subset of market caps could diverge from the performance of a fund that is focused on a broader representation of the stock market.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Value Investing</span><span style="font-family:Arial;font-size:9.5pt;font-weight:bold;">.</span><span style="font-family:Arial;font-size:9.5pt;line-height:10.3pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">The</span><span style="font-family:Arial;font-size:9.5pt;line-height:10.3pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">Fund’s approach to value investing could cause it to underperform other stock funds that use a different investment style. The Fund’s investments in value stocks are subject to the risk that the stocks’ valuations do not improve at the anticipated rate or that their returns do not move in tandem with the returns of other investment styles or the broader stock</span><span style="font-family:Arial;font-size:9.5pt;line-height:10.3pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">market.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Index Investing</span><span style="font-family:Arial;font-size:9.5pt;font-weight:bold;">.</span><span style="font-family:Arial;font-size:9.5pt;"> The Fund is subject to risks associated with index investing. Because the Fund generally seeks to track the performance of the Target Index regardless of how the Target Index is performing, the Fund’s performance may be lower than it would be if it were actively managed. Although the Fund seeks to hold substantially all of the securities included in the Target Index, it may be unable to do so. In addition, the Fund could be prevented from holding one or more securities in the same proportion as in the Target Index. The performance of the Fund’s investments,</span><span style="font-family:Arial;font-size:9.5pt;line-height:10.3pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">in the aggregate, may not match the investment performance of the Target Index. This risk, known as tracking error risk, may be heightened during times of increased market volatility or under other unusual market conditions. The Fund also could be negatively impacted by changes to the Target Index made by the index provider or by errors made by the index provider. Any gains, losses, or costs associated with or resulting from an error made by the index provider will generally be borne by the Fund and, as a result, the Fund’s shareholders.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Concentration Risk.</span><span style="font-family:Arial;font-size:9.5pt;line-height:10.3pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">Except as may be necessary to approximate the composition of its Target Index, the Fund will not concentrate its investments in the securities of issuers whose principal business activities are in the same industry or group of industries.</span><span style="font-family:Arial;font-size:9.5pt;line-height:10.3pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">If the Target Index becomes concentrated and the Fund needs to concentrate in the same industry or group of industries, its performance could be negatively impacted by the industry or industries in which it is</span><span style="font-family:Arial;font-size:9.5pt;line-height:10.3pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">concentrated.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">ETF Share Trading</span><span style="font-family:Arial;font-size:9.5pt;font-weight:bold;">.</span><span style="font-family:Arial;font-size:9.5pt;"> Vanguard ETF Shares (“ETF Shares”) are an exchanged-traded class of shares issued by certain Vanguard funds that represent an interest in the portfolio of securities held by the issuing fund. The Fund’s ETF Shares are listed for trading on NYSE Arca and individual investors may only buy and sell them on the secondary market at market prices. Although it is expected that the market price of an ETF Share typically will approximate its net asset value (NAV), there may be times when the market price of an ETF Share and its NAV differ significantly. Disruptions to creation and redemption transactions, the existence of significant market volatility, or potential lack of an active trading market for ETF Shares (including through a trading halt), as well as other factors, may result in ETF Shares trading significantly above (at a premium) or below (at a discount) the Fund’s NAV or the intraday value of the Fund’s holdings. Thus, you may pay more or less than NAV when you buy ETF Shares on the secondary market, and you may receive more or less than NAV when you sell those shares.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Authorized Participants</span><span style="font-family:Arial;font-size:9.5pt;font-weight:bold;">.</span><span style="font-family:Arial;font-size:9.5pt;font-weight:bold;line-height:10.3pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">Only Authorized Participants may engage in creation or redemption transactions directly with the Fund.</span><span style="font-family:Arial;font-size:9.5pt;line-height:10.3pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">The Fund has a limited number of financial institutions that may act as Authorized Participants. </span><span style="font-family:Arial;font-size:9.5pt;margin-left:0.0pt;">The Fund’s Authorized Participants are not obligated to engage in creation or redemption transactions.</span><span style="font-family:Arial;font-size:9.5pt;"> To the extent that the Fund’s Authorized Participants </span><span style="font-family:Arial;font-size:9.5pt;margin-left:0.0pt;">are unable to or choose not to</span><span style="font-family:Arial;font-size:9.5pt;line-height:10.3pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">proceed with creation and/or redemption </span><span style="font-family:Arial;font-size:9.5pt;margin-left:0.0pt;">transactions with respect to the Fund and no other Authorized Participants step forward to engage in creation or redemption transactions with the Fund, </span><span style="font-family:Arial;font-size:9.5pt;">the Fund’s ETF Shares may trade at</span><span style="font-family:Arial;font-size:9.5pt;line-height:10.3pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">a discount to NAV and possibly face </span><span style="font-family:Arial;font-size:9.5pt;margin-left:0.0pt;">trading halts and/</span><span style="font-family:Arial;font-size:9.5pt;">or</span><span style="font-family:Arial;font-size:9.5pt;line-height:10.3pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">delisting.</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;font-weight:bold;">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.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Annual Total Returns</span> <span style="font-family:Arial;font-size:9.5pt;">The following bar chart and table show the Fund’s historical performance and are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund’s ETF Shares (based on NAV) has varied from one calendar year to another over the periods shown. The table shows how the average annual total returns of the ETF Shares compare with those of a broad-based securities market index and one or more additional indexes</span><span style="font-family:Arial;font-size:9.5pt;line-height:10.3pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">with similar investment characteristics as the Fund.</span><span style="font-family:Arial;font-size:9.5pt;"> Keep in mind that </span><span style="font-family:Arial;font-size:9.5pt;">the Fund’s past performance (before and after taxes) does not indicate how the Fund will perform in the future.</span><span style="font-family:Arial;font-size:9.5pt;"> Updated performance information is available on </span><span style="font-family:Arial;font-size:9.5pt;">our website at </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;">vanguard.com/performance</span><span style="font-family:Arial;font-size:9.5pt;">.</span> <span style="font-family:Arial;font-size:9.5pt;">The following bar chart and table show the Fund’s historical performance and are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund’s ETF Shares (based on NAV) has varied from one calendar year to another over the periods shown. The table shows how the average annual total returns of the ETF Shares compare with those of a broad-based securities market index and one or more additional indexes</span><span style="font-family:Arial;font-size:9.5pt;line-height:10.3pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">with similar investment characteristics as the Fund.</span> <span style="font-family:Arial;font-size:9.5pt;"> Keep in mind that </span><span style="font-family:Arial;font-size:9.5pt;">the Fund’s past performance (before and after taxes) does not indicate how the Fund will perform in the future.</span> <span style="font-family:Arial;font-size:9.5pt;font-style:italic;">vanguard.com/performance</span> <span style="font-family:Arial;font-size:8pt;font-weight:bold;">Annual Total Returns — Vanguard Value Index Fund ETF Shares</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">During the periods shown in the bar chart, the highest and lowest returns for a calendar quarter were:</span> <span style="color:#000000;font-family:Arial;font-size:8pt;margin-left:0.0pt;">Highest</span> 0.1467 2022-12-31 <span style="color:#000000;font-family:Arial;font-size:8pt;margin-left:0.0pt;">Lowest</span> -0.2503 2020-03-31 <span style="font-family:Arial;font-size:8.5pt;font-weight:bold;">Average Annual Total Returns for Periods Ended December 31, 2025</span> 0.1527 0.1260 0.1167 0.1469 0.1195 0.1100 0.0942 0.0995 0.0951 0.1526 0.1259 0.1167 0.1531 0.1260 0.1168 0.1705 0.1307 0.1421 <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Actual after-tax returns depend on your tax situation and may differ from those shown in the preceding table. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">When after-tax returns are calculated, it is </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">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. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">Please note that after-tax returns are not relevant for a </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">Also, figures captioned </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:italic;">Return After Taxes on Distributions and Sale of Fund Shares</span><span style="color:#000000;font-family:Arial;font-size:9.5pt;"> 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.</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">When after-tax returns are calculated, it is </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">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. </span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Please note that after-tax returns are not relevant for a </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. </span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Also, figures captioned </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:italic;">Return After Taxes on Distributions and Sale of Fund Shares</span><span style="color:#000000;font-family:Arial;font-size:9.5pt;"> 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.</span> <span style="color:#000000;font-family:Arial;font-size:13pt;font-weight:bold;">Vanguard Mid-Cap Value ETF</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Investment Objective</span> <span style="font-family:Arial;font-size:9.5pt;">Vanguard Mid-Cap Value ETF, an exchange-traded share class of Vanguard Mid-Cap Value Index Fund (the “Fund”), seeks to track the performance of a benchmark index that measures the investment return of mid-capitalization value stocks.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Fees and Expenses</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">The following tables describe the fees and expenses you may pay if you buy, hold, and sell ETF Shares of the Fund. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;font-weight:bold;">You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the tables and example below.</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Shareholder Fees</span> <br/><span style="color:#000000;font-family:Arial;font-size:8.5pt;">(Fees paid directly from your investment)</span> 0 0 0 <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Annual Fund Operating Expenses</span> <br/><span style="color:#000000;font-family:Arial;font-size:8.5pt;">(Expenses that you pay each year as a percentage of the value of your investment)</span> 0.0004 0 0.0001 0.0005 <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Example</span> <span style="font-family:Arial;font-size:9.5pt;">This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other funds. The example assumes that you invest $10,000 in the Fund for</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">the time periods indicated and then redeem all of your shares at the end of those periods. The example also assumes that your investment has a 5%</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">return each year</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">and that the Fund’s operating expenses remain the</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">same.</span> 5 16 28 64 <span style="color:#000000;font-family:Arial;font-size:9.5pt;">This example does not include the brokerage commissions that you may pay to buy and sell ETF Shares of the Fund.</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Portfolio Turnover</span> <span style="font-family:Arial;font-size:9.5pt;">The Fund pays transaction costs, such as commissions, 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 higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was </span><span style="font-family:Arial;font-size:9.5pt;">23</span><span style="font-family:Arial;font-size:9.5pt;">% of the average value of its portfolio.</span> 0.23 <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Principal Investment Strategies</span> <span style="font-family:Arial;font-size:9.5pt;">The Fund employs an indexing investment approach designed to track the performance of the CRSP US Mid Cap Value Index (the “Target Index”), a broadly diversified index of value stocks of mid-size U.S. companies, as determined by the index provider. Under normal circumstances, the Fund invests at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in the stocks that make up the Target Index. The Fund attempts to replicate the Target Index by investing all, or substantially all, of its assets in the stocks that make up the Target Index, holding each stock in approximately the same proportion as its weighting in the Target Index.</span> <span style="font-family:Arial;font-size:9.5pt;">As with any investment, an investment in the Fund could lose money over any time</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">period.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">General Market Risk.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">The markets in which</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">the Fund invests can be affected by a variety of factors. These factors, which can be real or perceived,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">may include</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">economic, market, political,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">and regulatory conditions and developments as well as local,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">regional,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">or global events such as wars, military conflicts, natural disasters, and public health issues. In addition, investor sentiment and expectations regarding these factors can also impact the markets. Different parts of the market, including different industries and sectors as well as different types of securities, may react differently to factors that affect the market. These factors can contribute to market uncertainty, market volatility, and fluctuations in the value of the Fund’s investments, thereby resulting</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">in potential losses to the Fund over short or long</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">periods.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Investing in Equity Markets</span><span style="font-family:Arial;font-size:9.5pt;font-weight:bold;">.</span><span style="font-family:Arial;font-size:9.5pt;"> The Fund invests in the equity markets. Equity markets have historically been cyclical, having periods of time when stock values rise and fall. Market volatility can lead to significant fluctuations in stock values, resulting in potential losses to the Fund.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Market Capitalization (Market Cap).</span><span style="font-family:Arial;font-size:9.5pt;"> Companies are generally classified into three types of market cap depending on their size: small-, mid-,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">and large-cap.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">Companies can be further classified into micro-</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">or</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">mega-cap. Different factors can affect each market cap uniquely, and historically small- and mid-cap stocks have typically been more volatile due to the effects</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">of changing economic conditions. Large companies may not reach the same levels of growth or performance as smaller companies, and they may be slower to react to competitive challenges. The performance of funds that invest in a subset of market</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">caps could diverge</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">from the performance of a fund that is focused on a broader representation of the stock</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">market.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Value Investing</span><span style="font-family:Arial;font-size:9.5pt;font-weight:bold;">.</span><span style="font-family:Arial;font-size:9.5pt;"> The Fund’s approach to value investing could cause it to underperform other stock funds that use a different investment style. The Fund’s investments in value stocks are subject to the risk that the stocks’ valuations do not improve at the anticipated rate or that their returns do not move in tandem with the returns of other investment styles or the broader stock market.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Index Investing</span><span style="font-family:Arial;font-size:9.5pt;font-weight:bold;">.</span><span style="font-family:Arial;font-size:9.5pt;"> The Fund is subject to risks associated with index investing. Because the Fund generally seeks to track the performance of the Target Index regardless of how the Target Index is performing, the Fund’s performance may be lower than it would be if it were actively managed. Although the Fund seeks to hold substantially all of the securities included in the Target Index, it may be unable to do so. In addition, the Fund could be prevented from holding one or more securities in the same proportion as in the Target Index. The performance of the Fund’s investments,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">in the aggregate,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">may not match the investment performance of the Target Index. This risk, known as tracking error risk, may be heightened during times of increased market volatility or under other unusual market conditions. The Fund also could be negatively impacted by changes to the Target Index made by the index provider or by errors made by the index provider. Any gains, losses, or costs associated with or resulting from an error made by the index provider will generally be borne by the Fund and, as a result, the Fund’s shareholders.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Concentration Risk.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">Except as may be necessary to approximate the composition of its Target Index, the Fund will not concentrate its investments in the securities of issuers whose principal business activities are in the same industry or group of industries.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">If the Target Index becomes concentrated and the Fund needs to concentrate in the same industry or group of industries, its performance could be negatively impacted by the industry or industries in which it is</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">concentrated.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">ETF Share Trading</span><span style="font-family:Arial;font-size:9.5pt;font-weight:bold;">.</span><span style="font-family:Arial;font-size:9.5pt;"> Vanguard ETF Shares (“ETF Shares”) are an exchanged-traded class of shares issued by certain Vanguard funds that represent an interest in the portfolio of securities held by the issuing fund. The Fund’s ETF Shares are listed for trading on NYSE Arca and individual investors may only buy and sell them on the secondary market at market </span><span style="font-family:Arial;font-size:9.5pt;margin-left:0.0pt;">prices. Although it is expected that the market price of an ETF Share typically will approximate its net asset value (NAV), there may be times when the market price </span><span style="font-family:Arial;font-size:9.5pt;">of an ETF Share and its NAV differ significantly. Disruptions to </span><span style="font-family:Arial;font-size:9.5pt;margin-left:0.0pt;">creation and redemption transactions, the existence of significant market volatility, or potential lack of an active trading market for ETF Shares (including through a trading halt), as well as other factors, may result in ETF Shares trading significantly above (at a premium) or below (at a discount) the Fund’s NAV or the intraday value of the Fund’s holdings.</span><span style="font-family:Arial;font-size:9.5pt;"> Thus, you may pay </span><span style="font-family:Arial;font-size:9.5pt;margin-left:0.0pt;">more or less than NAV when you buy ETF Shares on the secondary market, and you may receive more or less than NAV when you sell those shares.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Authorized Participants</span><span style="font-family:Arial;font-size:9.5pt;font-weight:bold;">.</span><span style="font-family:Arial;font-size:9.5pt;font-weight:bold;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">Only Authorized Participants may engage in creation or redemption transactions directly with the Fund.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">The Fund has a limited number of financial institutions that may act as Authorized Participants. The Fund’s Authorized Participants are not obligated to engage in creation or redemption transactions. To the extent that the Fund’s Authorized Participants are unable to or choose not to</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">proceed with creation and/or redemption transactions with respect to the Fund and no other Authorized Participants step forward to engage in creation or redemption transactions with the Fund, the Fund’s ETF Shares may trade at</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">a discount to NAV and possibly face trading halts and/or</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">delisting.</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;font-weight:bold;">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.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Annual Total Returns</span> <span style="font-family:Arial;font-size:9.5pt;">The following bar chart and table show the Fund’s historical performance and are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund’s ETF Shares (based on NAV) has varied from one calendar year to another over the periods shown. The table shows how the average annual total returns of the ETF Shares compare with those of a broad-based securities market index and one or more additional indexes</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">with similar investment characteristics as the Fund.</span><span style="font-family:Arial;font-size:9.5pt;"> Keep in mind that </span><span style="font-family:Arial;font-size:9.5pt;">the Fund’s past performance (before and after taxes) does not indicate how the Fund will perform in the future.</span><span style="font-family:Arial;font-size:9.5pt;"> Updated performance information is available on </span><span style="font-family:Arial;font-size:9.5pt;">our website at </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;">vanguard.com/performance</span><span style="font-family:Arial;font-size:9.5pt;">.</span> <span style="font-family:Arial;font-size:9.5pt;">The following bar chart and table show the Fund’s historical performance and are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund’s ETF Shares (based on NAV) has varied from one calendar year to another over the periods shown. The table shows how the average annual total returns of the ETF Shares compare with those of a broad-based securities market index and one or more additional indexes</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">with similar investment characteristics as the Fund.</span> <span style="font-family:Arial;font-size:9.5pt;"> Keep in mind that </span><span style="font-family:Arial;font-size:9.5pt;">the Fund’s past performance (before and after taxes) does not indicate how the Fund will perform in the future.</span> <span style="font-family:Arial;font-size:9.5pt;font-style:italic;">vanguard.com/performance</span> <span style="font-family:Arial;font-size:8pt;font-weight:bold;">Annual Total Returns — Vanguard Mid-Cap Value Index Fund ETF Shares</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">During the periods shown in the bar chart, the highest and lowest returns for a calendar quarter were:</span> <span style="color:#000000;font-family:Arial;font-size:8pt;margin-left:0.0pt;">Highest</span> 0.1863 2020-06-30 <span style="color:#000000;font-family:Arial;font-size:8pt;margin-left:0.0pt;">Lowest</span> -0.3138 2020-03-31 <span style="font-family:Arial;font-size:8.5pt;font-weight:bold;">Average Annual Total Returns for Periods Ended December 31, 2025</span> 0.1205 0.1071 0.0993 0.1145 0.1011 0.0932 0.0749 0.0840 0.0800 0.1208 0.1071 0.0994 0.1211 0.1076 0.0997 0.1705 0.1307 0.1421 <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Actual after-tax returns depend on your tax situation and may differ from those shown in the preceding table. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">When after-tax returns are calculated, it is </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">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. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">Please note that after-tax returns are not relevant for a </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">Also, figures captioned </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:italic;">Return After Taxes on Distributions and Sale of Fund Shares</span><span style="color:#000000;font-family:Arial;font-size:9.5pt;"> 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.</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">When after-tax returns are calculated, it is </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">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. </span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Please note that after-tax returns are not relevant for a </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. </span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Also, figures captioned </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:italic;">Return After Taxes on Distributions and Sale of Fund Shares</span><span style="color:#000000;font-family:Arial;font-size:9.5pt;"> 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.</span> <span style="color:#000000;font-family:Arial;font-size:13pt;font-weight:bold;">Vanguard Small-Cap Value ETF</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Investment Objective</span> <span style="font-family:Arial;font-size:9.5pt;">Vanguard Small-Cap Value ETF, an exchange-traded share class of Vanguard Small-Cap Value Index Fund (the “Fund”), seeks to track the performance of a benchmark index that measures the investment return of </span> <br/><span style="font-family:Arial;font-size:9.5pt;">small-capitalization value stocks.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Fees and Expenses</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">The following tables describe the fees and expenses you may pay if you buy, hold, and sell ETF Shares of the Fund. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;font-weight:bold;">You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the tables and example below.</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Shareholder Fees</span> <br/><span style="color:#000000;font-family:Arial;font-size:8.5pt;">(Fees paid directly from your investment)</span> 0 0 0 <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Annual Fund Operating Expenses</span> <br/><span style="color:#000000;font-family:Arial;font-size:8.5pt;">(Expenses that you pay each year as a percentage of the value of your investment)</span> 0.0004 0 0.0001 0.0005 <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Example</span> <span style="font-family:Arial;font-size:9.5pt;">This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other funds. The example assumes that you invest $10,000 in the Fund for</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">the time periods indicated and then redeem all of your shares at the end of those periods. The example also assumes that your investment has a 5%</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">return each year</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">and that the Fund’s operating expenses remain the</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">same.</span> 5 16 28 64 <span style="color:#000000;font-family:Arial;font-size:9.5pt;">This example does not include the brokerage commissions that you may pay to buy and sell ETF Shares of the Fund.</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Portfolio Turnover</span> <span style="font-family:Arial;font-size:9.5pt;">The Fund pays transaction costs, such as commissions, 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 higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was </span><span style="font-family:Arial;font-size:9.5pt;">25</span><span style="font-family:Arial;font-size:9.5pt;">% of the average value of its portfolio.</span> 0.25 <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Principal Investment Strategies</span> <span style="font-family:Arial;font-size:9.5pt;">The Fund employs an indexing investment approach designed to track the performance of the CRSP US Small Cap Value Index (the “Target Index”), a broadly diversified index of value stocks of small U.S. companies, as determined by the index provider. Under normal circumstances, the Fund invests at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in the stocks that make up the Target Index. The Fund attempts to replicate the Target Index by investing all, or substantially all, of its assets in the stocks that make up the Target Index, holding each stock in approximately the same proportion as its weighting in the Target Index.</span> <span style="font-family:Arial;font-size:9.5pt;">As with any investment, an investment in the Fund could lose money over any time</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">period.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">General Market Risk.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">The markets in which</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">the Fund invests can be affected by a variety of factors. These factors, which can be real or perceived,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">may include</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">economic, market, political,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">and regulatory conditions and developments as well as local,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">regional,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">or global events such as wars, military conflicts, natural disasters, and public health issues. In addition, investor sentiment and expectations regarding these factors can also impact the markets. Different parts of the market, including different industries and sectors as well as different types of securities, may react differently to factors that affect the market. These factors can contribute to market uncertainty, market volatility, and fluctuations in the value of the Fund’s investments, thereby resulting</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">in potential losses to the Fund over short or long</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">periods.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Investing in Equity Markets</span><span style="font-family:Arial;font-size:9.5pt;font-weight:bold;">.</span><span style="font-family:Arial;font-size:9.5pt;"> The Fund invests in the equity markets. Equity markets have historically been cyclical, having periods of time when stock values rise and fall. Market volatility can lead to significant fluctuations in stock values, resulting in potential losses to the Fund.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Market Capitalization</span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">(Market Cap).</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">Companies are generally classified into three types of market cap depending on their size:</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">small-,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">mid-,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">and large-cap.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">Companies can be further classified into micro- or mega-cap. Different factors can affect each market cap uniquely, and historically small- and mid-cap stocks have typically been more volatile due to the effects of changing economic conditions. Large companies may not reach the same levels of growth or performance as smaller companies, and they may be slower to react to competitive challenges. The performance of funds that invest in a subset of market</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">caps could diverge</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">from the performance of a fund that is focused on a broader representation of the stock</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">market.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Value Investing</span><span style="font-family:Arial;font-size:9.5pt;font-weight:bold;">.</span><span style="font-family:Arial;font-size:9.5pt;"> The Fund’s approach to value investing could cause it to underperform other stock funds that use a different investment style. The Fund’s investments in value stocks are subject to the risk that the stocks’ valuations do not improve at the anticipated rate or that their returns do not move in tandem with the returns of other investment styles or the broader stock market.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Index Investing</span><span style="font-family:Arial;font-size:9.5pt;font-weight:bold;">.</span><span style="font-family:Arial;font-size:9.5pt;"> The Fund is subject to risks associated with index investing. Because the Fund generally seeks to track the performance of the Target Index regardless of how the Target Index is performing, the Fund’s performance may be lower than it would be if it were actively managed. Although the Fund seeks to hold substantially all of the securities included in the Target Index, it may be unable to do so. In addition, the Fund could be prevented from holding one or more securities in the same proportion as in the Target Index. The performance of the Fund’s investments,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">in the aggregate,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">may not match the investment performance of the Target Index. This risk, known as tracking error risk, may be heightened during times of increased market volatility or under other unusual market conditions. The Fund also could be negatively impacted by changes to the Target Index made by the index provider or by errors made by the index provider. Any gains, losses, or costs associated with or resulting from an error made by the index provider will generally be borne by the Fund and, as a result, the Fund’s shareholders.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Concentration Risk.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">Except as may be necessary to approximate the composition of its Target Index, the Fund will not concentrate its investments in the securities of issuers whose principal business activities are in the same industry or group of industries.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">If the Target Index becomes concentrated and the Fund needs to concentrate in the same industry or group of industries, its performance could be negatively impacted by the industry or industries in which it is</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">concentrated.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">ETF Share Trading</span><span style="font-family:Arial;font-size:9.5pt;font-weight:bold;">.</span><span style="font-family:Arial;font-size:9.5pt;"> Vanguard ETF Shares (“ETF Shares”) are an exchanged-traded class of shares issued by certain Vanguard funds that represent an interest in the portfolio of securities held by the issuing fund. The Fund’s ETF Shares are listed for trading on NYSE Arca and individual investors may only buy and sell them on the secondary market at market </span><span style="font-family:Arial;font-size:9.5pt;margin-left:0.0pt;">prices. Although it is expected that the market price of an ETF Share typically will approximate its net asset value (NAV), there may be times when the market price </span><span style="font-family:Arial;font-size:9.5pt;">of an ETF Share and its NAV differ significantly. Disruptions to </span><span style="font-family:Arial;font-size:9.5pt;margin-left:0.0pt;">creation and redemption transactions, the existence of significant market volatility, or potential lack of an active trading market for ETF Shares (including through a trading halt), as well as other factors, may result in ETF Shares trading significantly above (at a premium) or below (at a discount) the Fund’s NAV or the intraday value of the Fund’s holdings.</span><span style="font-family:Arial;font-size:9.5pt;"> Thus, you may pay </span><span style="font-family:Arial;font-size:9.5pt;margin-left:0.0pt;">more or less than NAV when you buy ETF Shares on the secondary market, and you may receive more or less than NAV when you sell those shares.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Authorized Participants</span><span style="font-family:Arial;font-size:9.5pt;font-weight:bold;">.</span><span style="font-family:Arial;font-size:9.5pt;font-weight:bold;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">Only Authorized Participants may engage in creation or redemption transactions directly with the Fund.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">The Fund has a limited number of financial institutions that may act as Authorized Participants. The Fund’s Authorized Participants are not obligated to engage in creation or redemption transactions. To the extent that the Fund’s Authorized Participants are unable to or choose not to</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">proceed with creation and/or redemption transactions with respect to the Fund and no other Authorized Participants step forward to engage in creation or redemption transactions with the Fund, the Fund’s ETF Shares may trade at</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">a discount to NAV and possibly face trading halts and/or</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">delisting.</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;font-weight:bold;">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.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Annual Total Returns</span> <span style="font-family:Arial;font-size:9.5pt;">The following bar chart and table show the Fund’s historical performance and are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund’s ETF Shares (based on NAV) has varied from one calendar year to another over the periods shown. The table shows how the average annual total returns of the ETF Shares compare with those of a broad-based securities market index and one or more additional indexes</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">with similar investment characteristics as the Fund.</span><span style="font-family:Arial;font-size:9.5pt;"> Keep in mind that </span><span style="font-family:Arial;font-size:9.5pt;">the Fund’s past performance (before and after taxes) does not indicate how the Fund will perform in the future.</span><span style="font-family:Arial;font-size:9.5pt;"> Updated performance information is available on </span><span style="font-family:Arial;font-size:9.5pt;">our website at </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;">vanguard.com/performance</span><span style="font-family:Arial;font-size:9.5pt;">.</span> <span style="font-family:Arial;font-size:9.5pt;">The following bar chart and table show the Fund’s historical performance and are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund’s ETF Shares (based on NAV) has varied from one calendar year to another over the periods shown. The table shows how the average annual total returns of the ETF Shares compare with those of a broad-based securities market index and one or more additional indexes</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">with similar investment characteristics as the Fund.</span> <span style="font-family:Arial;font-size:9.5pt;"> Keep in mind that </span><span style="font-family:Arial;font-size:9.5pt;">the Fund’s past performance (before and after taxes) does not indicate how the Fund will perform in the future.</span> <span style="font-family:Arial;font-size:9.5pt;font-style:italic;">vanguard.com/performance</span> <span style="font-family:Arial;font-size:8pt;font-weight:bold;">Annual Total Returns — Vanguard Small-Cap Value Index Fund ETF Shares</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">During the periods shown in the bar chart, the highest and lowest returns for a calendar quarter were:</span> <span style="color:#000000;font-family:Arial;font-size:8pt;margin-left:0.0pt;">Highest</span> 0.2934 2020-12-31 <span style="color:#000000;font-family:Arial;font-size:8pt;margin-left:0.0pt;">Lowest</span> -0.3487 2020-03-31 <span style="font-family:Arial;font-size:8.5pt;font-weight:bold;">Average Annual Total Returns for Periods Ended December 31, 2025</span> 0.0909 0.1056 0.1015 0.0850 0.0997 0.0954 0.0566 0.0825 0.0816 0.0909 0.1054 0.1014 0.0911 0.1058 0.1015 0.1705 0.1307 0.1421 <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Actual after-tax returns depend on your tax situation and may differ from those shown in the preceding table. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">When after-tax returns are calculated, it is </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">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. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">Please note that after-tax returns are not relevant for a </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">Also, figures captioned </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:italic;">Return After Taxes on Distributions and Sale of Fund Shares</span><span style="color:#000000;font-family:Arial;font-size:9.5pt;"> 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.</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">When after-tax returns are calculated, it is </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">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. </span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Please note that after-tax returns are not relevant for a </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. </span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Also, figures captioned </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:italic;">Return After Taxes on Distributions and Sale of Fund Shares</span><span style="color:#000000;font-family:Arial;font-size:9.5pt;"> 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.</span> <span style="color:#000000;font-family:Arial;font-size:13pt;font-weight:bold;">Vanguard Growth ETF</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Investment Objective</span> <span style="font-family:Arial;font-size:9.5pt;">Vanguard Growth ETF, an exchange-traded share class of Vanguard Growth Index Fund (the “Fund”), seeks to track the performance of a benchmark index that measures the investment return of large-capitalization growth stocks.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Fees and Expenses</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">The following tables describe the fees and expenses you may pay if you buy, hold, and sell ETF Shares of the Fund. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;font-weight:bold;">You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the tables and example below.</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Shareholder Fees</span> <br/><span style="color:#000000;font-family:Arial;font-size:8.5pt;">(Fees paid directly from your investment)</span> 0 0 0 <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Annual Fund Operating Expenses</span> <br/><span style="color:#000000;font-family:Arial;font-size:8.5pt;">(Expenses that you pay each year as a percentage of the value of your investment)</span> 0.0002 0 0.0001 0.0003 <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Example</span> <span style="font-family:Arial;font-size:9.5pt;">This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other funds. The example assumes that you invest $10,000 in the Fund for</span><span style="font-family:Arial;font-size:9.5pt;line-height:10.3pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">the time periods indicated and then redeem all of your shares at the end of those periods. The example also assumes that your investment has a 5%</span><span style="font-family:Arial;font-size:9.5pt;line-height:10.3pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">return each year</span><span style="font-family:Arial;font-size:9.5pt;line-height:10.3pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">and that the Fund’s operating expenses remain the</span><span style="font-family:Arial;font-size:9.5pt;line-height:10.3pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">same.</span> 3 10 17 39 <span style="color:#000000;font-family:Arial;font-size:9.5pt;">This example does not include the brokerage commissions that you may pay to buy and sell ETF Shares of the Fund.</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Portfolio Turnover</span> <span style="font-family:Arial;font-size:9.5pt;">The Fund pays transaction costs, such as commissions, 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 higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was </span><span style="font-family:Arial;font-size:9.5pt;">12</span><span style="font-family:Arial;font-size:9.5pt;">% of the average value of its portfolio.</span> 0.12 <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Principal Investment Strategies</span> <span style="font-family:Arial;font-size:9.5pt;">The Fund employs an indexing investment approach designed to track the performance of the CRSP US Large Cap Growth Index (the “Target Index”), a broadly diversified index made up of the growth stocks of large U.S. companies, as determined by the index provider. Under normal circumstances, the Fund invests at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in the stocks that make up the Target Index. The Fund attempts to replicate the Target Index by investing all, or substantially all, of its assets in the stocks that make up the Target Index, holding each stock in approximately the same proportion as its weighting in the Target Index.</span><span style="font-family:Arial;font-size:9.5pt;line-height:10.3pt;">The Fund may become nondiversified, as defined under the Investment Company Act of 1940, solely as a result of tracking an index. This could occur due to events such as an index rebalance or market movement. In addition, the Fund could become concentrated in an industry or group of industries if the Target Index becomes concentrated due to market conditions or the performance of a single or related group of issuers.</span> <span style="font-family:Arial;font-size:9.5pt;">As with any investment, an investment in the Fund could lose money over any time</span><span style="font-family:Arial;font-size:9.5pt;line-height:10.3pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">period.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">General Market Risk.</span><span style="font-family:Arial;font-size:9.5pt;line-height:10.3pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">The markets in which</span><span style="font-family:Arial;font-size:9.5pt;line-height:10.3pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">the Fund invests can be affected by a variety of factors. These factors, which can be real or perceived,</span><span style="font-family:Arial;font-size:9.5pt;line-height:10.3pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">may include</span><span style="font-family:Arial;font-size:9.5pt;line-height:10.3pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">economic, market, political,</span><span style="font-family:Arial;font-size:9.5pt;line-height:10.3pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">and regulatory conditions and developments as well as local,</span><span style="font-family:Arial;font-size:9.5pt;line-height:10.3pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">regional,</span><span style="font-family:Arial;font-size:9.5pt;line-height:10.3pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">or global events such as wars, military conflicts, natural disasters, and public health issues. In addition, investor sentiment and expectations regarding these factors can also impact the markets. Different parts of the market, including different industries and sectors as well as different types of securities, may react differently to factors that affect the market. These factors can contribute to market uncertainty, market volatility, and fluctuations in the value of the Fund’s investments, thereby resulting</span><span style="font-family:Arial;font-size:9.5pt;line-height:10.3pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">in potential losses to the Fund over short or long</span><span style="font-family:Arial;font-size:9.5pt;line-height:10.3pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">periods.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Investing in Equity Markets</span><span style="font-family:Arial;font-size:9.5pt;font-weight:bold;">.</span><span style="font-family:Arial;font-size:9.5pt;"> The Fund invests in the equity markets. Equity markets have historically been cyclical, having periods of time when stock values rise and fall. Market volatility can lead to significant fluctuations in stock values, resulting in potential losses to the Fund.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Market Capitalization (Market Cap).</span><span style="font-family:Arial;font-size:9.5pt;"> Companies are generally classified into three types of market cap depending on their size: small-, mid-, and large-cap. Companies can be further classified into micro- or mega-cap. Different factors can affect each market cap uniquely, and historically small- and mid-cap stocks have typically been more volatile due to the effects of changing economic conditions. Large companies may not reach the same levels of growth or performance as smaller companies, and they may be slower to react to competitive challenges. The performance of funds that invest in a subset of market caps could diverge from the performance of a fund that is focused on a broader representation of the stock market.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Growth Investing</span><span style="font-family:Arial;font-size:9.5pt;font-weight:bold;">.</span><span style="font-family:Arial;font-size:9.5pt;line-height:10.3pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">The</span><span style="font-family:Arial;font-size:9.5pt;line-height:10.3pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">Fund’s approach to growth investing could cause it to underperform other stock funds that use a different investment style. Growth stocks typically produce lower yields because growth companies prefer to reinvest earnings into research and development to promote growth and increase profitability.</span><span style="font-family:Arial;font-size:9.5pt;line-height:10.3pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">Research and development can be expensive and</span><span style="font-family:Arial;font-size:9.5pt;line-height:10.3pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">may not always produce favorable results, which could harm</span><span style="font-family:Arial;font-size:9.5pt;line-height:10.3pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">a company’s performance relative to the broader</span><span style="font-family:Arial;font-size:9.5pt;line-height:10.3pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">market.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Index Investing</span><span style="font-family:Arial;font-size:9.5pt;font-weight:bold;">.</span><span style="font-family:Arial;font-size:9.5pt;"> The Fund is subject to risks associated with index investing. Because the Fund generally seeks to track the performance of the Target Index regardless of how the Target Index is performing, the Fund’s performance may be lower than it would be if it were actively managed. Although the Fund seeks to hold substantially all of the securities included in the Target Index, it may be unable to do so. In addition, the Fund could be prevented from holding one or more securities in the same proportion as in the Target Index. The performance of the Fund’s investments,</span><span style="font-family:Arial;font-size:9.5pt;line-height:10.3pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">in the aggregate,</span><span style="font-family:Arial;font-size:9.5pt;line-height:10.3pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">may not match the investment performance of the Target Index. This risk, known as tracking error risk, may be heightened during times of increased market volatility or under other unusual market conditions. The Fund also could be negatively impacted by changes to the Target Index made by the index provider or by errors made by the index provider. Any gains, losses, or costs associated with or resulting from an error made by the index provider will generally be borne by the Fund and, as a result, the Fund’s shareholders.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Nondiversification.</span><span style="font-family:Arial;font-size:9.5pt;line-height:10.3pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">By tracking its broad-based Target Index, the Fund could become nondiversified, as defined under the Investment Company Act of 1940, due to events such as an index rebalance or market movement. The performance of nondiversified funds may be negatively impacted by relatively few securities or even a single security and their shares may experience significant fluctuations in</span><span style="font-family:Arial;font-size:9.5pt;line-height:10.3pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">value.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Concentration Risk.</span><span style="font-family:Arial;font-size:9.5pt;"> Except as may be necessary to approximate the composition of its Target Index, the Fund will not concentrate its investments in the securities of issuers whose principal business activities are in the same industry or group of industries. If the Target Index becomes concentrated and the Fund needs to concentrate in the same industry or group of industries, its performance could be negatively impacted by the industry or industries in which it is concentrated.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Information Technology</span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;line-height:10.3pt;"> </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Sector.</span><span style="font-family:Arial;font-size:9.5pt;line-height:10.3pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">As of the Fund’s most recent fiscal year end,</span><span style="font-family:Arial;font-size:9.5pt;line-height:10.3pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">stocks of</span><span style="font-family:Arial;font-size:9.5pt;line-height:10.3pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">companies within the IT sector made up a significant portion of the Target Index. As a result,</span><span style="font-family:Arial;font-size:9.5pt;line-height:10.3pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">the performance of the Target Index,</span><span style="font-family:Arial;font-size:9.5pt;line-height:10.3pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">and </span><span style="font-family:Arial;font-size:9.5pt;margin-left:0.0pt;">therefore the performance of the </span><span style="font-family:Arial;font-size:9.5pt;">Fund, may be impacted by the general </span><span style="font-family:Arial;font-size:9.5pt;margin-left:0.0pt;">condition of </span><span style="font-family:Arial;font-size:9.5pt;">the IT</span><span style="font-family:Arial;font-size:9.5pt;line-height:10.3pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">sector.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">ETF Share Trading</span><span style="font-family:Arial;font-size:9.5pt;font-weight:bold;">.</span><span style="font-family:Arial;font-size:9.5pt;"> Vanguard ETF Shares (“ETF Shares”) are an exchanged-traded class of shares issued by certain Vanguard funds that represent an interest in the portfolio of securities held by the issuing fund. The Fund’s ETF Shares are listed for trading on NYSE Arca and individual investors may only buy and sell them on the secondary market at market prices. Although it is expected that the market price of an ETF Share typically will approximate its net asset value (NAV), there may be times when the market price of an ETF Share and its NAV differ significantly. Disruptions to creation and redemption transactions, the existence of significant market volatility, or potential lack of an active trading market for ETF Shares (including through a trading halt), as well as other factors, may result in ETF Shares trading significantly above (at a premium) or below (at a discount) the Fund’s NAV or the intraday value of the Fund’s holdings. Thus, you may pay more or less than NAV when you buy ETF Shares on the secondary market, and you may receive more or less than NAV when you sell those shares.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Authorized Participants</span><span style="font-family:Arial;font-size:9.5pt;font-weight:bold;">.</span><span style="font-family:Arial;font-size:9.5pt;font-weight:bold;line-height:10.3pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">Only Authorized Participants may engage in creation or redemption transactions directly with the Fund.</span><span style="font-family:Arial;font-size:9.5pt;line-height:10.3pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">The Fund has a limited number of financial institutions that may act as Authorized Participants. The Fund’s Authorized Participants are not obligated to engage in creation or redemption transactions. To the extent that the Fund’s Authorized Participants are unable to or choose not to</span><span style="font-family:Arial;font-size:9.5pt;line-height:10.3pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">proceed with creation and/or redemption transactions with respect to the Fund and no other Authorized Participants step forward to engage in creation or redemption transactions with the Fund, the Fund’s ETF Shares may trade at</span><span style="font-family:Arial;font-size:9.5pt;line-height:10.3pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">a discount to NAV and possibly face trading halts and/or</span><span style="font-family:Arial;font-size:9.5pt;line-height:10.3pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">delisting.</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;font-weight:bold;">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.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Annual Total Returns</span> <span style="font-family:Arial;font-size:9.5pt;">The following bar chart and table show the Fund’s historical performance and are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund’s ETF Shares (based on NAV) has varied from one calendar year to another over the periods shown. The table shows how the average annual total returns of the ETF Shares compare with those of a broad-based securities market index and one or more additional indexes</span><span style="font-family:Arial;font-size:9.5pt;line-height:10.3pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">with similar investment characteristics as the Fund.</span><span style="font-family:Arial;font-size:9.5pt;"> Keep in mind that </span><span style="font-family:Arial;font-size:9.5pt;">the Fund’s past performance (before and after taxes) does not indicate how the Fund will perform in the future.</span><span style="font-family:Arial;font-size:9.5pt;"> Updated performance information is available on </span><span style="font-family:Arial;font-size:9.5pt;">our website at </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;">vanguard.com/performance</span><span style="font-family:Arial;font-size:9.5pt;">.</span> <span style="font-family:Arial;font-size:9.5pt;">The following bar chart and table show the Fund’s historical performance and are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund’s ETF Shares (based on NAV) has varied from one calendar year to another over the periods shown. The table shows how the average annual total returns of the ETF Shares compare with those of a broad-based securities market index and one or more additional indexes</span><span style="font-family:Arial;font-size:9.5pt;line-height:10.3pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">with similar investment characteristics as the Fund.</span> <span style="font-family:Arial;font-size:9.5pt;"> Keep in mind that </span><span style="font-family:Arial;font-size:9.5pt;">the Fund’s past performance (before and after taxes) does not indicate how the Fund will perform in the future.</span> <span style="font-family:Arial;font-size:9.5pt;font-style:italic;">vanguard.com/performance</span> <span style="font-family:Arial;font-size:8pt;font-weight:bold;">Annual Total Returns — Vanguard Growth Index Fund ETF Shares</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">During the periods shown in the bar chart, the highest and lowest returns for a calendar quarter were:</span> <span style="color:#000000;font-family:Arial;font-size:8pt;margin-left:0.0pt;">Highest</span> 0.2904 2020-06-30 <span style="color:#000000;font-family:Arial;font-size:8pt;margin-left:0.0pt;">Lowest</span> -0.2242 2022-06-30 <span style="font-family:Arial;font-size:8.5pt;font-weight:bold;">Average Annual Total Returns for Periods Ended December 31, 2025</span> 0.1944 0.1463 0.1745 0.1931 0.1448 0.1720 0.1158 0.1175 0.1485 0.1940 0.1462 0.1745 0.1948 0.1467 0.1749 0.1705 0.1307 0.1421 <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Actual after-tax returns depend on your tax situation and may differ from those shown in the preceding table. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">When after-tax returns are calculated, it is </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">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. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">Please note that after-tax returns are not relevant for a </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">Also, figures captioned </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:italic;">Return After Taxes on Distributions and Sale of Fund Shares</span><span style="color:#000000;font-family:Arial;font-size:9.5pt;"> 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.</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">When after-tax returns are calculated, it is </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">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. </span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Please note that after-tax returns are not relevant for a </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. </span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Also, figures captioned </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:italic;">Return After Taxes on Distributions and Sale of Fund Shares</span><span style="color:#000000;font-family:Arial;font-size:9.5pt;"> 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.</span> <span style="color:#000000;font-family:Arial;font-size:13pt;font-weight:bold;">Vanguard Mid-Cap Growth ETF</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Investment Objective</span> <span style="font-family:Arial;font-size:9.5pt;">Vanguard Mid-Cap Growth ETF, an exchange-traded share class of Vanguard Mid-Cap Growth Index Fund (the “Fund”), seeks to track the performance of a benchmark index that measures the investment return of mid-capitalization growth stocks.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Fees and Expenses</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">The following tables describe the fees and expenses you may pay if you buy, hold, and sell ETF Shares of the Fund. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;font-weight:bold;">You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the tables and example below.</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Shareholder Fees</span> <br/><span style="color:#000000;font-family:Arial;font-size:8.5pt;">(Fees paid directly from your investment)</span> 0 0 0 <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Annual Fund Operating Expenses</span> <br/><span style="color:#000000;font-family:Arial;font-size:8.5pt;">(Expenses that you pay each year as a percentage of the value of your investment)</span> 0.0004 0 0.0001 0.0005 <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Example</span> <span style="font-family:Arial;font-size:9.5pt;">This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other funds. The example assumes that you invest $10,000 in the Fund for</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">the time periods indicated and then redeem all of your shares at the end of those periods. The example also assumes that your investment has a 5%</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">return each year</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">and that the Fund’s operating expenses remain the</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">same.</span> 5 16 28 64 <span style="color:#000000;font-family:Arial;font-size:9.5pt;">This example does not include the brokerage commissions that you may pay to buy and sell ETF Shares of the Fund.</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Portfolio Turnover</span> <span style="font-family:Arial;font-size:9.5pt;">The Fund pays transaction costs, such as commissions, 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 higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was </span><span style="font-family:Arial;font-size:9.5pt;">17</span><span style="font-family:Arial;font-size:9.5pt;">% of the average value of its portfolio.</span> 0.17 <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Principal Investment Strategies</span> <span style="font-family:Arial;font-size:9.5pt;">The Fund employs an indexing investment approach designed to track the performance of the CRSP US Mid Cap Growth Index (the “Target Index”), a broadly diversified index of growth stocks of mid-size U.S. companies, as determined by the index provider. Under normal circumstances, the Fund invests at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in the stocks that make up the Target Index. The Fund attempts to replicate the Target Index by investing all, or substantially all, of its assets in the stocks that make up the Target Index, holding each stock in approximately the same proportion as its weighting in the Target Index.</span> <span style="font-family:Arial;font-size:9.5pt;">As with any investment, an investment in the Fund could lose money over any time</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">period.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">General Market Risk.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">The markets in which</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">the Fund invests can be affected by a variety of factors. These factors, which can be real or perceived,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">may include</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">economic, market, political,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">and regulatory conditions and developments as well as local,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">regional,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">or global events such as wars, military conflicts, natural disasters, and public health issues. In addition, investor sentiment and expectations regarding these factors can also impact the markets. Different parts of the market, including different industries and sectors as well as different types of securities, may react differently to factors that affect the market. These factors can contribute to market uncertainty, market volatility, and fluctuations in the value of the Fund’s investments, thereby resulting</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">in potential losses to the Fund over short or long</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">periods.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Investing in Equity Markets</span><span style="font-family:Arial;font-size:9.5pt;font-weight:bold;">.</span><span style="font-family:Arial;font-size:9.5pt;"> The Fund invests in the equity markets. Equity markets have historically been cyclical, having periods of time when stock values rise and fall. Market volatility can lead to significant fluctuations in stock values, resulting in potential losses to the Fund.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Market Capitalization (Market Cap).</span><span style="font-family:Arial;font-size:9.5pt;"> Companies are generally classified into three types of market cap depending on their size: small-, mid-,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">and large-cap.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">Companies can be further classified into micro-</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">or</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">mega-cap. Different factors can affect each market cap uniquely, and historically small- and mid-cap stocks have typically been more volatile due to the effects</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">of changing economic conditions. Large companies may not reach the same levels of growth or performance as smaller companies, and they may be slower to react to competitive challenges. The performance of funds that invest in a subset of market</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">caps could diverge</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">from the performance of a fund that is focused on a broader representation of the stock</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">market.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Growth Investing</span><span style="font-family:Arial;font-size:9.5pt;font-weight:bold;">.</span><span style="font-family:Arial;font-size:9.5pt;"> The Fund’s approach to growth investing could cause it to underperform other stock funds that use a different investment style. Growth stocks typically produce lower yields because growth companies prefer to reinvest earnings into research and development to promote growth and increase profitability. Research and development can be expensive and may not always produce favorable results, which could harm a company’s performance relative to the broader market.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Index Investing</span><span style="font-family:Arial;font-size:9.5pt;font-weight:bold;">.</span><span style="font-family:Arial;font-size:9.5pt;"> The Fund is subject to risks associated with index investing. Because the Fund generally seeks to track the performance of the Target Index regardless of how the Target Index is performing, the Fund’s performance may be lower than it would be if it were actively managed. Although the Fund seeks to hold substantially all of the securities included in the Target Index, it may be unable to do so. In addition, the Fund could be prevented from holding one or more securities in the same proportion as in the Target Index. The performance of the Fund’s investments,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">in the aggregate,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">may not match the investment performance of the Target Index. This risk, known as tracking error risk, may be heightened during times of increased market volatility or under other unusual market conditions. The Fund also could be negatively impacted by changes to the Target Index made by the index provider or by errors made by the index provider. Any gains, losses, or costs associated with or resulting from an error made by the index provider will generally be borne by the Fund and, as a result, the Fund’s shareholders.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Concentration Risk.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">Except as may be necessary to approximate the composition of its Target Index, the Fund will not concentrate its investments in the securities of issuers whose principal business activities are in the same industry or group of industries.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">If the Target Index becomes concentrated and the Fund needs to concentrate in the same industry or group of industries, its performance could be negatively impacted by the industry or industries in which it is</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">concentrated.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">ETF Share Trading</span><span style="font-family:Arial;font-size:9.5pt;font-weight:bold;">.</span><span style="font-family:Arial;font-size:9.5pt;"> Vanguard ETF Shares (“ETF Shares”) are an exchanged-traded class of shares issued by certain Vanguard funds that represent an interest in the portfolio of securities held by the issuing fund. The Fund’s ETF Shares are listed for trading on NYSE Arca and individual </span><span style="font-family:Arial;font-size:9.5pt;margin-left:0.0pt;">investors may only buy and sell them</span><span style="font-family:Arial;font-size:9.5pt;"> on the secondary market at market </span><span style="font-family:Arial;font-size:9.5pt;margin-left:0.0pt;">prices. Although it is expected that the market price of an ETF Share typically will approximate its net asset value (NAV), there may be times when the market price </span><span style="font-family:Arial;font-size:9.5pt;">of an ETF Share and its NAV differ significantly. Disruptions to </span><span style="font-family:Arial;font-size:9.5pt;margin-left:0.0pt;">creation and redemption transactions, the existence of significant market volatility, or potential lack of an active trading market for ETF Shares (including through a trading halt), as well as other factors, may result in ETF Shares trading significantly above (at a premium) or below (at a discount) the Fund’s NAV or the intraday value of the Fund’s holdings.</span><span style="font-family:Arial;font-size:9.5pt;"> Thus, you may pay </span><span style="font-family:Arial;font-size:9.5pt;margin-left:0.0pt;">more or less than NAV when you buy ETF Shares on the secondary market, and you may receive more or less than NAV when you sell those shares.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Authorized Participants</span><span style="font-family:Arial;font-size:9.5pt;font-weight:bold;">.</span><span style="font-family:Arial;font-size:9.5pt;font-weight:bold;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">Only Authorized Participants may engage in creation or redemption transactions directly with the Fund.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">The Fund has a limited number of financial institutions that may act as Authorized Participants. The Fund’s Authorized Participants are not obligated to engage in creation or redemption transactions. To the extent that the Fund’s Authorized Participants are unable to or choose not to</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">proceed with creation and/or redemption transactions with respect to the Fund and no other Authorized Participants step forward to engage in creation or redemption transactions with the Fund, the Fund’s ETF Shares may trade at</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">a discount to NAV and possibly face trading halts and/or</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">delisting.</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;font-weight:bold;">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.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Annual Total Returns</span> <span style="font-family:Arial;font-size:9.5pt;">The following bar chart and table show the Fund’s historical performance and are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund’s ETF Shares (based on NAV) has varied from one calendar year to another over the periods shown. The table shows how the average annual total returns of the ETF Shares compare with those of a broad-based securities market index and one or more additional indexes</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">with similar investment characteristics as the Fund.</span><span style="font-family:Arial;font-size:9.5pt;"> Keep in mind that </span><span style="font-family:Arial;font-size:9.5pt;">the Fund’s past performance (before and after taxes) does not indicate how the Fund will perform in the future.</span><span style="font-family:Arial;font-size:9.5pt;"> Updated performance information is available on </span><span style="font-family:Arial;font-size:9.5pt;">our website at </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;">vanguard.com/performance</span><span style="font-family:Arial;font-size:9.5pt;">.</span> <span style="font-family:Arial;font-size:9.5pt;">The following bar chart and table show the Fund’s historical performance and are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund’s ETF Shares (based on NAV) has varied from one calendar year to another over the periods shown. The table shows how the average annual total returns of the ETF Shares compare with those of a broad-based securities market index and one or more additional indexes</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">with similar investment characteristics as the Fund.</span> <span style="font-family:Arial;font-size:9.5pt;"> Keep in mind that </span><span style="font-family:Arial;font-size:9.5pt;">the Fund’s past performance (before and after taxes) does not indicate how the Fund will perform in the future.</span> <span style="font-family:Arial;font-size:9.5pt;font-style:italic;">vanguard.com/performance</span> <span style="font-family:Arial;font-size:8pt;font-weight:bold;">Annual Total Returns — Vanguard Mid-Cap Growth Index Fund ETF Shares</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">During the periods shown in the bar chart, the highest and lowest returns for a calendar quarter were:</span> <span style="color:#000000;font-family:Arial;font-size:8pt;margin-left:0.0pt;">Highest</span> 0.3058 2020-06-30 <span style="color:#000000;font-family:Arial;font-size:8pt;margin-left:0.0pt;">Lowest</span> -0.2118 2022-06-30 <span style="font-family:Arial;font-size:8.5pt;font-weight:bold;">Average Annual Total Returns for Periods Ended December 31, 2025</span> 0.1069 0.0635 0.1163 0.1050 0.0617 0.1142 0.0643 0.0494 0.0963 0.1072 0.0634 0.1163 0.1073 0.0639 0.1168 0.1705 0.1307 0.1421 <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Actual after-tax returns depend on your tax situation and may differ from those shown in the preceding table. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">When after-tax returns are calculated, it is </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">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. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">Please note that after-tax returns are not relevant for a </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">Also, figures captioned </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:italic;">Return After Taxes on Distributions and Sale of Fund Shares</span><span style="color:#000000;font-family:Arial;font-size:9.5pt;"> 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.</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">When after-tax returns are calculated, it is </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">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. </span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Please note that after-tax returns are not relevant for a </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. </span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Also, figures captioned </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:italic;">Return After Taxes on Distributions and Sale of Fund Shares</span><span style="color:#000000;font-family:Arial;font-size:9.5pt;"> 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.</span> <span style="color:#000000;font-family:Arial;font-size:13pt;font-weight:bold;">Vanguard Small-Cap Growth ETF</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Investment Objective</span> <span style="font-family:Arial;font-size:9.5pt;">Vanguard Small-Cap Growth ETF, an exchange-traded share class of Vanguard Small-Cap Growth Index Fund (the “Fund”), seeks to track the performance of a benchmark index that measures the investment return of small-capitalization growth stocks.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Fees and Expenses</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">The following tables describe the fees and expenses you may pay if you buy, hold, and sell ETF Shares of the Fund. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;font-weight:bold;">You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the tables and example below.</span> <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Shareholder Fees</span> <br/><span style="color:#000000;font-family:Arial;font-size:8.5pt;">(Fees paid directly from your investment)</span> 0 0 0 <span style="color:#000000;font-family:Arial;font-size:8.5pt;font-weight:bold;">Annual Fund Operating Expenses</span> <br/><span style="color:#000000;font-family:Arial;font-size:8.5pt;">(Expenses that you pay each year as a percentage of the value of your investment)</span> 0.0004 0 0.0001 0.0005 <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Example</span> <span style="font-family:Arial;font-size:9.5pt;">This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other funds. The example assumes that you invest $10,000 in the Fund for</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">the time periods indicated and then redeem all of your shares at the end of those periods. The example also assumes that your investment has a 5%</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">return each year</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">and that the Fund’s operating expenses remain the</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">same.</span> 5 16 28 64 <span style="color:#000000;font-family:Arial;font-size:9.5pt;">This example does not include the brokerage commissions that you may pay to buy and sell ETF Shares of the Fund.</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Portfolio Turnover</span> <span style="font-family:Arial;font-size:9.5pt;">The Fund pays transaction costs, such as commissions, 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 higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was </span><span style="font-family:Arial;font-size:9.5pt;">24</span><span style="font-family:Arial;font-size:9.5pt;">% of the average value of its portfolio.</span> 0.24 <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Principal Investment Strategies</span> <span style="font-family:Arial;font-size:9.5pt;">The Fund employs an indexing investment approach designed to track the performance of the CRSP US Small Cap Growth Index (the “Target Index”), a broadly diversified index of growth stocks of small U.S. companies, as determined by the index provider. Under normal circumstances, the Fund invests at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in the stocks that make up the Target Index. The Fund attempts to replicate the Target Index by investing all, or substantially all, of its assets in the stocks that make up the Target Index, holding each stock in approximately the same proportion as its weighting in the Target Index.</span> <span style="font-family:Arial;font-size:9.5pt;">As with any investment, an investment in the Fund could lose money over any time</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">period.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">General Market Risk.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">The markets in which</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">the Fund invests can be affected by a variety of factors. These factors, which can be real or perceived,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">may include</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">economic, market, political,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">and regulatory conditions and developments as well as local,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">regional,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">or global events such as wars, military conflicts, natural disasters, and public health issues. In addition, investor sentiment and expectations regarding these factors can also impact the markets. Different parts of the market, including different industries and sectors as well as different types of securities, may react differently to factors that affect the market. These factors can contribute to market uncertainty, market volatility, and fluctuations in the value of the Fund’s investments, thereby resulting</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">in potential losses to the Fund over short or long</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">periods.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Investing in Equity Markets</span><span style="font-family:Arial;font-size:9.5pt;font-weight:bold;">.</span><span style="font-family:Arial;font-size:9.5pt;"> The Fund invests in the equity markets. Equity markets have historically been cyclical, having periods of time when stock values rise and fall. Market volatility can lead to significant fluctuations in stock values, resulting in potential losses to the Fund.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Market Capitalization (Market Cap).</span><span style="font-family:Arial;font-size:9.5pt;"> Companies are generally classified into three types of market cap depending on their size: small-, mid-, and large-cap. Companies can be further classified into micro- or mega-cap. Different factors can affect each market cap uniquely, and historically small- and mid-cap stocks have typically been more volatile due to the effects of changing economic conditions. Large companies may not reach the same levels of growth or performance as smaller companies, and they may be slower to react to competitive challenges. The performance of funds that invest in a subset of market caps could diverge from the performance of a fund that is focused on a broader representation of the stock market.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Growth Investing</span><span style="font-family:Arial;font-size:9.5pt;font-weight:bold;">.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">The</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">Fund’s approach to growth investing could cause it to underperform other stock funds that use a different investment style. Growth stocks typically produce lower yields because growth companies prefer to reinvest earnings into research and development to promote growth and increase profitability. Research and development can be expensive and may not always produce favorable results, which could harm</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">a company’s performance relative to the broader</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">market.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Index Investing</span><span style="font-family:Arial;font-size:9.5pt;font-weight:bold;">.</span><span style="font-family:Arial;font-size:9.5pt;"> The Fund is subject to risks associated with index investing. Because the Fund generally seeks to track the performance of the Target Index regardless of how the Target Index is performing, the Fund’s performance may be lower than it would be if it were actively managed. Although the Fund seeks to hold substantially all of the securities included in the Target Index, it may be unable to do so. In addition, the Fund could be prevented from holding one or more securities in the same proportion as in the Target Index. The performance of the Fund’s investments,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">in the aggregate,</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">may not match the investment performance of the Target Index. This risk, known as tracking error risk, may be heightened during times of increased market volatility or under other unusual market conditions. The Fund also could be negatively impacted by changes to the Target Index made by the index provider or by errors made by the index provider. Any gains, losses, or costs associated with or resulting from an error made by the index provider will generally be borne by the Fund and, as a result, the Fund’s shareholders.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Concentration Risk.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">Except as may be necessary to approximate the composition of its Target Index, the Fund will not concentrate its investments in the securities of issuers whose principal business activities are in the same industry or group of industries.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">If the Target Index becomes concentrated and the Fund needs to concentrate in the same industry or group of industries, its performance could be negatively impacted by the industry or industries in which it is</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">concentrated.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">ETF Share Trading</span><span style="font-family:Arial;font-size:9.5pt;font-weight:bold;">.</span><span style="font-family:Arial;font-size:9.5pt;"> Vanguard ETF Shares (“ETF Shares”) are an exchanged-traded class of shares issued by certain Vanguard funds that represent an interest in the portfolio of securities held by the issuing fund. The Fund’s ETF Shares are listed for trading on NYSE Arca and individual </span><span style="font-family:Arial;font-size:9.5pt;margin-left:0.0pt;">investors may only buy and sell them</span><span style="font-family:Arial;font-size:9.5pt;"> on the secondary market at market </span><span style="font-family:Arial;font-size:9.5pt;margin-left:0.0pt;">prices. Although it is expected that the market price of an ETF Share typically will approximate its net asset value (NAV), there may be times when the market price </span><span style="font-family:Arial;font-size:9.5pt;">of an ETF Share and its NAV differ significantly. Disruptions to </span><span style="font-family:Arial;font-size:9.5pt;margin-left:0.0pt;">creation and redemption transactions, the existence of significant market volatility, or potential lack of an active trading market for ETF Shares (including through a trading halt), as well as other factors, may result in ETF Shares trading significantly above (at a premium) or below (at a discount) the Fund’s NAV or the intraday value of the Fund’s holdings.</span><span style="font-family:Arial;font-size:9.5pt;"> Thus, you may pay </span><span style="font-family:Arial;font-size:9.5pt;margin-left:0.0pt;">more or less than NAV when you buy ETF Shares on the secondary market, and you may receive more or less than NAV when you sell those shares.</span> <span style="font-family:Arial;font-size:9.5pt;margin-left:-8.6pt;">• </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;font-weight:bold;">Authorized Participants</span><span style="font-family:Arial;font-size:9.5pt;font-weight:bold;">.</span><span style="font-family:Arial;font-size:9.5pt;font-weight:bold;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">Only Authorized Participants may engage in creation or redemption transactions directly with the Fund.</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">The Fund has a limited number of financial institutions that may act as Authorized Participants. The Fund’s Authorized Participants are not obligated to engage in creation or redemption transactions. To the extent that the Fund’s Authorized Participants are unable to or choose not to</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">proceed with creation and/or redemption transactions with respect to the Fund and no other Authorized Participants step forward to engage in creation or redemption transactions with the Fund, the Fund’s ETF Shares may trade at</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">a discount to NAV and possibly face trading halts and/or</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">delisting.</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;font-weight:bold;">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.</span> <span style="color:#000000;font-family:Arial;font-size:10pt;font-weight:bold;">Annual Total Returns</span> <span style="font-family:Arial;font-size:9.5pt;">The following bar chart and table show the Fund’s historical performance and are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund’s ETF Shares (based on NAV) has varied from one calendar year to another over the periods shown. The table shows how the average annual total returns of the ETF Shares compare with those of a broad-based securities market index and one or more additional indexes</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">with similar investment characteristics as the Fund.</span><span style="font-family:Arial;font-size:9.5pt;"> Keep in mind that </span><span style="font-family:Arial;font-size:9.5pt;">the Fund’s past performance (before and after taxes) does not indicate how the Fund will perform in the future.</span><span style="font-family:Arial;font-size:9.5pt;"> Updated performance information is available on </span><span style="font-family:Arial;font-size:9.5pt;">our website at </span><span style="font-family:Arial;font-size:9.5pt;font-style:italic;">vanguard.com/performance</span><span style="font-family:Arial;font-size:9.5pt;">.</span> <span style="font-family:Arial;font-size:9.5pt;">The following bar chart and table show the Fund’s historical performance and are intended to help you understand the risks of investing in the Fund. The bar chart shows how the performance of the Fund’s ETF Shares (based on NAV) has varied from one calendar year to another over the periods shown. The table shows how the average annual total returns of the ETF Shares compare with those of a broad-based securities market index and one or more additional indexes</span><span style="font-family:Arial;font-size:9.5pt;line-height:11.5pt;"> </span><span style="font-family:Arial;font-size:9.5pt;">with similar investment characteristics as the Fund.</span> <span style="font-family:Arial;font-size:9.5pt;"> Keep in mind that </span><span style="font-family:Arial;font-size:9.5pt;">the Fund’s past performance (before and after taxes) does not indicate how the Fund will perform in the future.</span> <span style="font-family:Arial;font-size:9.5pt;font-style:italic;">vanguard.com/performance</span> <span style="font-family:Arial;font-size:8pt;font-weight:bold;">Annual Total Returns — Vanguard Small-Cap Growth Index Fund ETF Shares</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">During the periods shown in the bar chart, the highest and lowest returns for a calendar quarter were:</span> <span style="color:#000000;font-family:Arial;font-size:8pt;margin-left:0.0pt;">Highest</span> 0.3291 2020-06-30 <span style="color:#000000;font-family:Arial;font-size:8pt;margin-left:0.0pt;">Lowest</span> -0.2421 2020-03-31 <span style="font-family:Arial;font-size:8.5pt;font-weight:bold;">Average Annual Total Returns for Periods Ended December 31, 2025</span> 0.0843 0.0303 0.1026 0.0827 0.0288 0.1004 0.0507 0.0230 0.0840 0.0850 0.0303 0.1027 0.0844 0.0299 0.1023 0.1705 0.1307 0.1421 <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Actual after-tax returns depend on your tax situation and may differ from those shown in the preceding table. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">When after-tax returns are calculated, it is </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">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. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">Please note that after-tax returns are not relevant for a </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">Also, figures captioned </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:italic;">Return After Taxes on Distributions and Sale of Fund Shares</span><span style="color:#000000;font-family:Arial;font-size:9.5pt;"> 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.</span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">When after-tax returns are calculated, it is </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">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. </span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Please note that after-tax returns are not relevant for a </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;">shareholder who holds fund shares in a tax-deferred account, such as an individual retirement account or a 401(k) plan. </span> <span style="color:#000000;font-family:Arial;font-size:9.5pt;">Also, figures captioned </span><span style="color:#000000;font-family:Arial;font-size:9.5pt;font-style:italic;">Return After Taxes on Distributions and Sale of Fund Shares</span><span style="color:#000000;font-family:Arial;font-size:9.5pt;"> 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.</span> None through Vanguard (Broker fees vary) The expense information shown in the table has been restated to reflect current fees. None through Vanguard (Broker fees vary) The expense information shown in the table has been restated to reflect current fees. None through Vanguard (Broker fees vary) The expense information shown in the table has been restated to reflect current fees. None through Vanguard (Broker fees vary) The expense information shown in the table has been restated to reflect current fees. The expense information shown in the table has been restated to reflect current fees. The expense information shown in the table has been restated to reflect current fees. None through Vanguard (Broker fees vary) The expense information shown in the table has been restated to reflect current fees. None through Vanguard (Broker fees vary) The expense information shown in the table has been restated to reflect current fees. The expense information shown in the table has been restated to reflect current fees. None through Vanguard (Broker fees vary) The expense information shown in the table has been restated to reflect current fees. The expense information shown in the table has been restated to reflect current fees. None through Vanguard (Broker fees vary) The expense information shown in the table has been restated to reflect current fees. The expense information shown in the table has been restated to reflect current fees. None through Vanguard (Broker fees vary) The expense information shown in the table has been restated to reflect current fees. None through Vanguard (Broker fees vary) The expense information shown in the table has been restated to reflect current fees. None through Vanguard (Broker fees vary) The expense information shown in the table has been restated to reflect current fees. The expense information shown in the table has been restated to reflect current fees. None through Vanguard (Broker fees vary) The expense information shown in the table has been restated to reflect current fees.