Fund Description: Vanguard High Dividend Yield ETF is an exchange-traded index fund or Index ETF which is a separate investment portfolio of the Vanguard Whitehall Fund. INVESTMENT OBJECTIVE: The Vanguard High Dividend Yield ETF seeks to track the performance of the FTSE High Dividend Yield Index. INDEX DESCRIPTION: The FTSE High Dividend Yield Index measures the investment return of common stocks of companies characterized by high dividend yields. FUND STRATEGY: The Fund employs a passive management or indexing investment approach designed to track the performance of the Index. 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 invest in foreign securities to the extent necessary to carry out its investment strategy of holding all, or substantially all, of the stocks that make up the index it tracks. It is not expected that the fund will invest more than 5% of its assets in foreign securities. To track its target index as closely as possible, the fund attempts to remain fully invested in stocks. To help stay fully invested and to reduce transaction costs, the fund may invest, to a limited extent, in derivatives which is a financial contract whose value is based on the value of a financial asset (such as a stock, bond, or currency), a physical asset (such as gold), or a market index. FUND MANAGEMENT: The Vanguard Group, Inc. serves as advisor to the Funds.