Vanguard International Stock Index Funds Annual Report
Vanguard International Stock Index Funds Annual Report
Vanguard International Stock Index Funds Annual Report
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Emerging Markets <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 799 748 1,806<br />
Turnover Rate 12% — —<br />
Expense Ratio3 — —<br />
Investor Shares 0.39%<br />
Admiral Shares 0.27%<br />
Signal Shares 0.27%<br />
Institutional Shares 0.20%<br />
ETF Shares 0.27%<br />
Short-Term Reserves 0.0% — —<br />
Sector Diversification (% of equity exposure)<br />
Target Broad<br />
Fund <strong>Index</strong>1 <strong>Index</strong>2 Consumer Discretionary 5.4% 5.3% 8.3%<br />
Consumer Staples 5.4 5.4 8.6<br />
Energy 15.3 15.3 11.2<br />
Financials 24.7 25.4 26.6<br />
Health Care 2.2 2.1 6.4<br />
Industrials 6.8 6.7 9.8<br />
Information Technology 13.0 12.7 6.5<br />
Materials<br />
Telecommunication<br />
14.6 14.5 11.2<br />
Services 9.1 9.1 6.4<br />
Utilities 3.5 3.5 5.0<br />
Volatility Measures4 Fund Versus Fund Versus<br />
Target <strong>Index</strong>1 Broad <strong>Index</strong>2 R-Squared 0.99 0.94<br />
Beta 1.01 1.25<br />
Ten Largest Holdings 5 (% of total net assets)<br />
Petroleo Brasileiro SA integrated oil<br />
and gas 4.0%<br />
Vale SA diversified metals<br />
and mining 2.9<br />
Samsung<br />
Electronics Co. Ltd. semiconductors 2.6<br />
Gazprom OAO ADR integrated oil<br />
and gas 2.0<br />
China Mobile Ltd. wireless<br />
telecommunication<br />
Teva Pharmaceutical<br />
services 1.9<br />
Industries Ltd.<br />
Taiwan Semiconductor<br />
pharmaceuticals 1.5<br />
Manufacturing Co. Ltd. semiconductors 1.5<br />
America Movil wireless<br />
SAB de CV telecommunication<br />
services 1.4<br />
Itau Unibanco Holding SA<br />
China Construction<br />
diversified banks 1.4<br />
Bank Corp. diversified banks 1.3<br />
Top Ten 20.5%<br />
1 MSCI Emerging Markets <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 0.40% for<br />
Investor Shares, 0.27% for Admiral Shares, 0.27% for Signal Shares, 0.23% for Institutional Shares, and 0.27% for ETF Shares.<br />
4 For an explanation of R-squared, beta, and other terms used here, see the Glossary.<br />
5 The holdings listed exclude any temporary cash investments and equity index products.<br />
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