Vanguard Russell 1000 Index Fund Institutional Shares VRNIX Strategy

The investment seeks to track the performance of the Russell 1000 ® Index that measures the investment return of large-capitalization stocks in the United States. The fund advisor employs an indexing investment approach designed to track the performance of the Russell 1000® Index. The index is designed to measure the performance of large-capitalization stocks in the United States. The Advisor attempts to replicate the target index by investing all, or substantially all, of its assets in the stocks that make up the index, holding each stock in approximately the same proportion as its weighting in the index. The fund is non-diversified.