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Vanguard International Growth Fund Prospectus Investor and Admiral

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<strong>International</strong> <strong>Growth</strong> <strong>Fund</strong> <strong>Investor</strong> Shares<br />

Year Ended August 31,<br />

2011 2010 2009 2008 2007<br />

Net Asset Value, Beginning of Period $16.27 $15.73 $20.43 $26.13 $23.97<br />

Investment Operations<br />

Net Investment Income .351 .291 .398 1 Net Realized <strong>and</strong> Unrealized Gain (Loss)<br />

.473 .594<br />

on Investments 1.954 .535 (3.633) (3.431) 4.132<br />

Total from Investment Operations<br />

Distributions<br />

2.305 .826 (3.235) (2.958) 4.726<br />

Dividends from Net Investment Income (.305) (.286) (.562) (.528) (.530)<br />

Distributions from Realized Capital Gains — — (.903) (2.214) (2.036)<br />

Total Distributions (.305) (.286) (1.465) (2.742) (2.566)<br />

Net Asset Value, End of Period $18.27 $16.27 $15.73 $20.43 $26.13<br />

Total Return 2 Ratios/Supplemental Data<br />

14.10% 5.19% –13.75% –12.83% 20.87%<br />

Net Assets, End of Period (Millions) $10,878 $10,493 $10,226 $11,969 $13,219<br />

Ratio of Total Expenses to Average Net Assets3 Ratio of Net Investment Income to Average<br />

0.47% 0.49% 0.53% 0.47% 0.51%<br />

Net Assets 1.85% 1.74% 2.84% 1 2.07% 2.47%<br />

Turnover Rate 43% 44% 51% 55% 41%<br />

1 Net investment income per share <strong>and</strong> the ratio of net investment income to average net assets include $0.061 <strong>and</strong> 0.48%,<br />

respectively, resulting from income accrued in connection with a spinoff in October 2008 by Reinet Investments SA of<br />

British American Tobacco plc.<br />

2 Total returns do not include transaction or account service fees that may have applied in the periods shown.<br />

3 Includes performance-based investment advisory fee increases (decreases) of 0.03%, 0.03%, 0.03%, 0.02%, <strong>and</strong> 0.01%.<br />

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