Vanguard International Growth Fund Prospectus Investor and Admiral

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Fund Summary Investment Objective The Fund seeks to provide long-term capital appreciation. Fees and Expenses The following table describes the fees and expenses you may pay if you buy and hold Investor Shares or Admiral Shares of the Fund. Shareholder Fees (Fees paid directly from your investment) Investor Shares Admiral Shares Sales Charge (Load) Imposed on Purchases None None Purchase Fee None None Sales Charge (Load) Imposed on Reinvested Dividends None None Redemption Fee (on shares held less than two months) 2% 2% Account Service Fee (for fund account balances below $10,000) $20/year $20/year Annual Fund Operating Expenses (Expenses that you pay each year as a percentage of the value of your investment) Investor Shares Admiral Shares Management Expenses 0.43% 0.30% 12b-1 Distribution Fee None None Other Expenses 0.04% 0.04% Total Annual Fund Operating Expenses 0.47% 0.34% 1
Examples The following examples are intended to help you compare the cost of investing in the Fund’s Investor Shares or Admiral Shares with the cost of investing in other mutual funds. They illustrate the hypothetical expenses that you would incur over various periods if you invest $10,000 in the Fund’s shares. These examples assume that the Shares provide a return of 5% a year and that operating expenses remain as stated in the preceding table. The results apply whether or not you 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: Portfolio Turnover 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 43%. Primary Investment Strategies The Fund invests predominantly in the stocks of companies located outside the United States and is expected to diversify its assets across developed and emerging markets in Europe, the Far East, and Latin America. In selecting stocks, the Fund’s advisors evaluate foreign markets around the world and choose large-, mid-, and small-capitalization companies considered to have above-average growth potential. The Fund uses multiple investment advisors. 2 1 Year 3 Years 5 Years 10 Years Investor Shares $48 $151 $263 $591 Admiral Shares $35 $109 $191 $431
Page 1 and 2: Vanguard Developed Markets Index Fu
Page 3: Contents Fund Summary 1 Investing W
Page 7 and 8: Annual Total Returns The following
Page 9 and 10: Investment Advisors Baillie Gifford
Page 11 and 12: More on the Fund This prospectus de
Page 13 and 14: To illustrate the volatility of int
Page 15 and 16: Security Selection The Fund uses mu
Page 17 and 18: Other Investment Policies and Risks
Page 19 and 20: Frequent Trading or Market-Timing B
Page 21 and 22: Investment Advisors The Fund uses a
Page 23 and 24: Greg Aldridge, Portfolio Manager at
Page 25 and 26: General Information Backup withhold
Page 27 and 28: Financial Highlights The following
Page 29 and 30: International Growth Fund Admiral S
Page 31 and 32: By telephone. You may call Vanguard
Page 33 and 34: Refused or rejected purchase reques
Page 35 and 36: By exchange. You may have the proce
Page 37 and 38: In addition, redemption fees will n
Page 39 and 40: Please note that Vanguard reserves
Page 41 and 42: For those Vanguard funds that charg
Page 43 and 44: Responsibility for Fraud Vanguard w
Page 45 and 46: any account and/or suspend account
Page 47 and 48: Contacting Vanguard Web Vanguard.co
Page 49 and 50: Glossary of Investment Terms Capita
Page 51: Connect with Vanguard ® > vanguard

Vanguard International Growth Fund Prospectus Investor and Admiral

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