Vanguard International Stock Index Funds Annual Report
Vanguard International Stock Index Funds Annual Report
Vanguard International Stock Index Funds Annual Report
Create successful ePaper yourself
Turn your PDF publications into a flip-book with our unique Google optimized e-Paper software.
Pacific <strong>Stock</strong> <strong>Index</strong> Fund<br />
Fund Profile<br />
As of October 31, 2009<br />
Portfolio Characteristics<br />
Target Broad<br />
Fund <strong>Index</strong>1 <strong>Index</strong>2 Number of <strong>Stock</strong>s 499 494 1,806<br />
Turnover Rate 8% — —<br />
Expense Ratio3 — —<br />
Investor Shares 0.29%<br />
Admiral Shares 0.18%<br />
Signal Shares 0.18%<br />
Institutional Shares 0.13%<br />
ETF Shares 0.18%<br />
Short-Term Reserves4 –0.2% — —<br />
Sector Diversification (% of equity exposure)<br />
Target Broad<br />
Fund <strong>Index</strong>1 <strong>Index</strong>2 Consumer Discretionary 14.5% 14.5% 8.3%<br />
Consumer Staples 6.3 6.2 8.6<br />
Energy 2.6 2.6 11.2<br />
Financials 28.5 28.6 26.6<br />
Health Care 4.6 4.5 6.4<br />
Industrials 14.7 14.7 9.8<br />
Information Technology 8.9 8.9 6.5<br />
Materials<br />
Telecommunication<br />
11.5 11.6 11.2<br />
Services 3.5 3.5 6.4<br />
Utilities 4.9 4.9 5.0<br />
Volatility Measures5 Fund Versus Fund Versus<br />
Target <strong>Index</strong>1 Broad <strong>Index</strong>2 R-Squared 0.95 0.89<br />
Beta 1.00 0.82<br />
Ten Largest Holdings 6 (% of total net assets)<br />
BHP Billiton Ltd. diversified metals<br />
and mining 3.4%<br />
Toyota Motor Corp. automobile<br />
manufacturers 3.4<br />
Commonwealth<br />
Bank of Australia diversified banks 2.2<br />
Westpac Banking Corp. diversified banks 2.1<br />
Honda Motor Co. Ltd. automobile<br />
National Australia<br />
manufacturers 1.6<br />
Bank Ltd.<br />
Mitsubishi UFJ<br />
diversified banks 1.6<br />
Financial Group Inc.<br />
Australia & New Zealand<br />
diversified banks 1.5<br />
Banking Group Ltd. diversified banks 1.5<br />
Canon Inc. office electronics 1.2<br />
Woolworths Ltd. food retail 1.0<br />
Top Ten 19.5%<br />
Market Diversification (% of equity exposure)<br />
Target<br />
Fund <strong>Index</strong>1 Japan 63.6% 63.6%<br />
Australia 24.8 24.8<br />
Hong Kong 7.2 7.2<br />
Singapore 4.1 4.1<br />
Other Pacific Markets 0.3 0.3<br />
1 MSCI Pacific <strong>Index</strong>.<br />
2 MSCI All Country World <strong>Index</strong> ex USA.<br />
3 The expense ratios shown are from the prospectuses dated February 27, 2009, and represent estimated costs for the current fiscal year<br />
based on the fund’s net assets as of the prospectus date. For the fiscal year ended October 31, 2009, the expense ratios were 0.27% for<br />
Investor Shares, 0.16% for Admiral Shares, 0.16% for Signal Shares, 0.12% for Institutional Shares, and 0.16% for ETF Shares.<br />
4 The fund invested a portion of its cash reserves in equity markets through the use of index futures contracts. After the effect of the futures<br />
investments, the fund’s temporary cash position was negative.<br />
5 For an explanation of R-squared, beta, and other terms used here, see the Glossary.<br />
6 The holdings listed exclude any temporary cash investments and equity index products.<br />
37