Fund Description: Vanguard FTSE Emerging Markets ETF, formerly Vanguard MSCI Emerging Markets ETF, formerly Vanguard Emerging Markets ETF, formerly Vanguard Emerging Markets VIPERs, is an exchange-traded index fund or Index ETF which is a separate investment portfolio of the Vanguard International Equity Index Funds an open-end investment management company. INVESTMENT OBJECTION: The Vanguard FTSE Emerging Markets ETF seeks to track the performance of the FTSE Emerging Index, formerly FTSE Emerging Transition Index, formerly the MSCI Emerging Markets Index, that measures the investment return of stocks issued by companies located in emerging market countries. INDEX DESCRIPTION: The FTSE Emerging Index is a market-capitalization weighted index representing the performance of around 850 large and mid cap companies in 22 emerging markets. The Index is derived from the FTSE Global Equity Index Series (GEIS). 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.