66 Emerging Markets <strong>Stock</strong> <strong>Index</strong> Fund Fiscal-Year Total Returns (%): October 31, 1999–October 31, 2009 2000 –6.3 –6.4 2001 –21.2 –21.0 2002 5.3 5.8 2003 49.9 50.6 Emerging Markets <strong>Stock</strong> <strong>Index</strong> Fund Investor Shares Spliced Emerging Markets <strong>Index</strong> 1 2004 18.4 19.0 33.7 33.7 Average <strong>Annual</strong> Total Returns: Periods Ended September 30, 2009 This table presents average annual total returns through the latest calendar quarter—rather than through the end of the fiscal period. Securities and Exchange Commission rules require that we provide this information. Inception Date One Year Five Years Ten Years Emerging Markets <strong>Stock</strong> <strong>Index</strong> Fund Investor Shares2 5/4/1994 17.38% 16.67% 11.71% Fee-Adjusted Returns3 16.81 16.56 11.66 Admiral Shares 6/23/2006 17.49 10.584 — Fee-Adjusted Returns3 16.92 10.424 — Signal Shares 1/19/2007 17.51 2.944 — Fee-Adjusted Returns3 16.94 2.754 — Institutional Shares 6/22/2000 17.57 16.87 11.214 Fee-Adjusted Returns3 17.00 16.76 11.164 ETF Shares 3/4/2005 Market Price 17.28 12.204 — Net Asset Value 17.52 12.074 — 1 Select Emerging Markets <strong>Index</strong> through August 23, 2006; MSCI Emerging Markets <strong>Index</strong> thereafter. 2 Returns do not reflect the $10 annual account maintenance fee applied on balances under $10,000. 3 Performance figures are adjusted for the 0.25% (0.50% prior to June 26, 2008) transaction fee on purchases and redemptions that were in effect as of September 30, 2009. Total returns do not reflect the 2% fee assessed until March 23, 2005. 4 Returns since inception. Note: See Financial Highlights tables for dividend and capital gains information. 2005 2006 32.6 33.3 2007 69.6 67.8 2008 –56.7 –56.3 2009 60.1 64.1
Emerging Markets <strong>Stock</strong> <strong>Index</strong> Fund Financial Statements Statement of Net Assets As of October 31, 2009 The fund reports a complete list of its holdings in regulatory filings four times in each fiscal year, at the quarter-ends. For the second and fourth fiscal quarters, the lists appear in the fund’s semiannual and annual reports to shareholders. For the first and third fiscal quarters, the fund files the lists with the Securities and Exchange Commission on Form N-Q. Shareholders can look up the fund’s Forms N-Q on the SEC’s website at www.sec.gov. Forms N-Q may also be reviewed and copied at the SEC’s Public Reference Room (see the back cover of this report for further information). Market Value• Shares ($000) Common <strong>Stock</strong>s (99.7%) 1 Brazil (16.4%) Petroleo Brasileiro SA Pfd. 17,720,912 351,280 Petroleo Brasileiro SA Petroleo Brasileiro SA 12,701,496 292,013 Series A ADR 6,028,266 241,854 Vale SA 10,233,577 230,337 * Vale SA Class B ADR Petroleo Brasileiro 9,860,918 227,787 SA ADR 4,456,295 205,970 Itau Unibanco Holding SA Itau Unibanco 9,878,408 187,912 Holding SA ADR 9,544,713 182,686 Vale SA 6,981,638 177,355 Banco Bradesco SA 8,711,900 170,420 * Vale SA Class B ADR 6,665,271 169,898 Investimentos Itau SA 20,693,452 118,292 Banco Bradesco SA ADR OGX Petroleo e 5,800,557 114,271 Gas Participacoes SA Cia de Bebidas das 117,073 94,371 Americas 845,306 76,752 BRF - Brasil Foods SA 3,034,000 73,146 BM&FBOVESPA SA Cia Siderurgica 11,312,020 72,883 Nacional SA ADR Usinas Siderurgicas 2,002,498 66,403 de Minas Gerais SA Cia Siderurgica 2,349,455 61,350 Nacional SA Cia de Bebidas 1,790,860 59,157 das Americas ADR 583,580 52,569 * Banco Santander Brasil SA ADR Companhia Brasileira de 4,418,424 52,402 Meios de Pagamento 5,641,512 51,912 Banco do Brasil SA 3,084,765 49,399 Gerdau SA Pfd. 3,143,500 47,377 Gerdau SA 3,108,446 46,938 Market Value • Shares ($000) Metalurgica Gerdau SA Class A 2,549,208 46,814 Redecard SA 3,078,885 45,198 Bradespar SA 2,108,971 43,278 Vivo Participacoes SA 1,437,552 34,992 Cia de Concessoes Rodoviarias 1,710,624 33,638 Cia Energetica de Minas Gerais 1,997,632 31,355 Tele Norte Leste Participacoes SA 1,587,863 30,196 Centrais Eletricas Brasileiras SA 2,057,681 29,307 Ultrapar Participacoes SA 666,516 29,190 Natura Cosmeticos SA 1,580,965 28,414 Cia Brasileira de Distribuicao Grupo Pao de Acucar ADR 463,049 28,010 All America Latina Logistica SA 3,533,063 25,932 Usinas Siderurgicas de Minas Gerais SA 1,045,883 25,708 Souza Cruz SA 696,573 24,722 * Global Village Telecom Holding SA 845,792 24,270 Cia Energetica de Minas Gerais ADR 1,450,322 22,901 Centrais Eletricas Brasileiras SA Pfd. B 1,770,359 22,511 * NET Servicos de Comunicacao SA 1,688,791 20,813 Lojas Americanas SA 2,983,798 19,462 Cia Energetica de Sao Paulo 1,603,621 18,662 Cyrela Brazil Realty SA 1,427,746 18,114 Tele Norte Leste Participacoes SA ADR 923,045 17,593 JBS SA 3,107,446 17,146 * Empresa Brasileira de Aeronautica SA ADR 794,361 16,086 CPFL Energia SA 905,339 15,855 67