Fund Description: Vanguard Small-Cap Growth ETF formerly Vanguard Small-Cap Growth VIPERs, is an exchange-traded index fund or Index ETF which is a separate investment portfolio of the Vanguard Index Funds, an open-end investment management company. INVESTMENT OBJECTIVE: The Vanguard Small-Cap Growth ETF seeks to provide investment returns that closely correspond to the price and yield performance of the CRSP U.S. Small Cap Growth Index, formerly MSCI US Small Cap Growth Index. INDEX DESCRIPTION: The CRSP U.S. Small Cap Growth Index is a broadly diversified index of growth stocks of smaller U.S. companies. CRSP classifies growth securities using the following factors: future long-term growth in earnings per share (EPS), future short-term growth in EPS, 3-year historical growth in EPS, 3-year historical growth in sales per share, current investment-to-assets ratio, and return on assets. FUND STRATEGY: The Fund employs a passive management or indexing investment approach designed to track the performance of the Index. As its primary indexing strategy, the Fund attempts to replicate the target index by investing all, or substantially all, of its assets in the stocks that make up the Index, holding each stock in approximately the same proportion as its weighting in the Index. The Fund may use a sampling strategy if regulatory constraints or other considerations prevent it from replicating the Index. FUND MANAGEMENT: The Vanguard Group serves as investment advisor to the Funds through its Quantitative Equity Group.