Fund Description: Vanguard Information Technology ETF, formerly Vanguard Information Technology VIPERs, is an exchange-traded index fund or Index ETF which is a separate investment portfolio of the Vanguard World Fund, an open-end investment management company. INVESTMENT OBJECTIVE: The Vanguard Information Technology ETF seeks to track the performance of the MSCI US Investable Market Information Technology 25/50 Index. INDEX DESCRIPTION: The MSCI US Investable Market Information Technology 25/50 Index is an index of stocks of large, medium-size, and small U.S. companies in the information technology sector, as classified under the Global Industry Classification Standard (GICS). This GICS sector is made up of companies in the following three general areas: technology software and services including companies that primarily develop software in various fields (such as the Internet, applications, systems, databases, management, and/or home entertainment), and companies that provide information technology consulting and services, data processing, and outsourced services; technology hardware and equipment, including manufacturers and distributors of communications equipment, computers and peripherals, electronic equipment, and related instruments; and semiconductors and semiconductor equipment manufacturers. 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.