Vanguard Growth Index Fund
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Vanguard Growth Index Fund
Supplement dated April 26, 2019, to the Prospectus and Summary Prospectus Dated April 26, 2019
Prospectus and Summary Prospectus Changes
The following is added under the heading "Principal Risks":
? Nondiversification Risk. Due to a recent index rebalance and in order to closely track the composition of the Fund's target index, more than 25% of the Fund's total assets are invested in issuers representing more than 5% of the Fund's total assets. As a result, the Fund is nondiversified under the Investment Company Act of 1940, although it continues to hold more than 300 stocks across a number of sectors. The Fund's performance may be hurt disproportionately by the poor performance of relatively few stocks, or even a single stock, and the Fund's shares may experience significant fluctuations in value.
? 2019 The Vanguard Group, Inc. All rights reserved. Vanguard Marketing Corporation, Distributor.
PS 09A 042019
Vanguard U.S. Stock Index Large-Capitalization Funds Prospectus
April 26, 2019
Institutional Shares & Institutional Plus Shares Vanguard Total Stock Market Index Fund Institutional Shares (VITSX) Vanguard Total Stock Market Index Fund Institutional Plus Shares (VSMPX) Vanguard Large-Cap Index Fund Institutional Shares (VLISX) Vanguard Value Index Fund Institutional Shares (VIVIX) Vanguard Growth Index Fund Institutional Shares (VIGIX)
See the inside front cover for important information about access to your fund's annual and semiannual shareholder reports.
This prospectus contains financial data for the Funds through the fiscal year ended December 31, 2018. The Securities and Exchange Commission (SEC) has not approved or disapproved these securities or passed upon the adequacy of this prospectus. Any representation to the contrary is a criminal offense.
Important information about access to shareholder reports
Beginning on January 1, 2021, as permitted by regulations adopted by the SEC, paper copies of your fund's annual and semiannual shareholder reports will no longer be sent to you by mail, unless you specifically request them. Instead, you will be notified by mail each time a report is posted on the website and will be provided with a link to access the report.
If you have already elected to receive shareholder reports electronically, you will not be affected by this change and do not need to take any action. You may elect to receive shareholder reports and other communications from the fund electronically by contacting your financial intermediary (such as a broker-dealer or bank) or, if you invest directly with the fund, by calling Vanguard at one of the phone numbers on the back cover of this prospectus or by logging on to .
You may elect to receive paper copies of all future shareholder reports free of charge. If you invest through a financial intermediary, you can contact the intermediary to request that you continue to receive paper copies. If you invest directly with the fund, you can call Vanguard at one of the phone numbers on the back cover of this prospectus or log on to . Your election to receive paper copies will apply to all the funds you hold through an intermediary or directly with Vanguard.
Vanguard Fund Summaries
Investing With Vanguard
Total Stock Market Index Fund
Large-Cap Index Fund
Value Index Fund
Growth Index Fund
Investing in Index Funds
More on the Funds
Other Rules You Should Know
The Funds and Vanguard
Fund and Account Updates
Dividends, Capital Gains, and Taxes
Glossary of Investment Terms
Vanguard Total Stock Market Index Fund
Investment Objective The Fund seeks to track the performance of a benchmark index that measures the
investment return of the overall stock market.
Fees and Expenses The following table describes the fees and expenses you may pay if you buy and hold
Institutional Shares or Institutional Plus Shares of the Fund.
Shareholder Fees (Fees paid directly from your investment)
Sales Charge (Load) Imposed on Purchases Purchase Fee Sales Charge (Load) Imposed on Reinvested Dividends Redemption Fee
Institutional Shares None None None None
Institutional Plus Shares None None None None
Annual Fund Operating Expenses (Expenses that you pay each year as a percentage of the value of your investment)
Institutional Plus Shares
12b-1 Distribution Fee
Total Annual Fund Operating Expenses
The following examples are intended to help you compare the cost of investing in the Fund's Institutional Shares or Institutional Plus Shares with the cost of investing in other mutual funds. They illustrate the hypothetical expenses that you would incur over various periods if you were to invest $10,000 in the Fund's shares. These examples assume that the shares provide a return of 5% each year and that total annual fund operating expenses remain as stated in the preceding table. You would incur these hypothetical expenses whether or not you were to redeem your investment at the end of the given period. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
Institutional Shares Institutional Plus Shares
1 Year $3 $2
3 Years $10 $6
5 Years $17 $11
10 Years $39 $26
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 more taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the previous expense examples, reduce the Fund's performance. During the most recent fiscal year, the Fund's portfolio turnover rate was 3% of the average value of its portfolio.
Principal Investment Strategies The Fund employs an indexing investment approach designed to track the performance of the CRSP US Total Market Index, which represents approximately 100% of the investable U.S. stock market and includes large-, mid-, small-, and microcap stocks regularly traded on the New York Stock Exchange and Nasdaq. The Fund invests by sampling the Index, meaning that it holds a broadly diversified collection of securities that, in the aggregate, approximates the full Index in terms of key characteristics. These key characteristics include industry weightings and market capitalization, as well as certain financial measures, such as price/earnings ratio and dividend yield.
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