Fund Description: Vanguard Total Corporate Bond ETF Shares is an exchange-traded index fund or Index ETF which is a separate investment portfolio of the Vanguard Scottsdale Fund, an investment management company. INVESTMENT OBJECTIVE: The Vanguard Total Corporate Bond ETF Shares seeks to track the performance of the Bloomberg Barclays U.S. Corporate Bond Index. INDEX DESCRIPTION: The Bloomberg Barclays U.S. Corporate Bond Index measures the investment-grade, fixed-rate, taxable corporate bond market. The Index includes U.S. dollar-denominated securities that are publicly issued by industrial, utility, and financial issuers. FUND STRATEGY: The Fund is a fund of funds and employs an indexing investment approach designed to track the performance of the Index. The Fund intends to obtain its exposure to the bonds held in the Index by investing all, or substantially all, of its assets in a mix of Vanguard bond index ETFs (underlying funds), rather than in individual securities held in the Index. The underlying funds are Vanguard Short-Term Corporate Bond ETF, Vanguard Intermediate-Term Corporate Bond ETF, and Vanguard Long-Term Corporate Bond ETF. The Fund’s indirect bond holdings are a diversified mix of short-, intermediate-, and long-term investment-grade corporate bonds. Each of the underlying funds seeks to track the performance of an index that represents a subset of the Index. Together, these three indexes comprise the Fund’s target index. FUND MANAGEMENT: The Vanguard Group, Inc.serves as the investment advisor to the Fund.