Overview |
||
|---|---|---|
| Unit Price as of | $ | |
| Change | $ | % |
| Yield as of | % | |
| Expense Ratio as of | ||
| Inception Date | ||
The Moderate Growth Portfolio seeks to provide moderate levels of capital appreciation and income.
The Moderate Growth Portfolio invests in two Vanguard® stock index funds and two Vanguard bond index funds in approximately the following proportions:
36% Vanguard Institutional Total Stock Market Index Fund
24% Vanguard Total International Stock Index Fund
28% Vanguard Total Bond Market II Index Fund
12% Vanguard Total International Bond Index Fund
The Portfolio, through its investment in Vanguard Institutional Total Stock Market Index Fund, indirectly invests in a broadly diversified collection of securities that, in the aggregate, approximates the Fund's target index (the CRSP US Total Market Index). This index represents approximately 100% of the investable U.S. stock market and includes large-, mid-, small-, and micro-cap stocks regularly traded on the New York Stock Exchange and Nasdaq. The Portfolio also indirectly invests in international stocks through its investment in Vanguard Total International Stock Index Fund. Through its investment in Vanguard Total Bond Market II Index Fund, the Portfolio also indirectly invests in a broadly diversified collection of securities that, in the aggregate, approximates the Bloomberg Barclays U.S. Aggregate Float Adjusted Index in terms of key risk factors and other characteristics. This Index measures a wide spectrum of public, investment-grade, taxable, fixed income securities in the United States—including government, corporate, and international dollar-denominated bonds, as well as mortgage-backed and asset-backed securities—all with maturities of more than one year. The Fund maintains a dollar-weighted average maturity consistent with that of the Index, which generally ranges between five and ten years.
Through its investment in Vanguard Total International Bond Index Fund, the Portfolio indirectly invests in government, government agency, corporate and securitized non-U.S. investment-grade fixed income investments, all issued in currencies other than the U.S. dollar and with maturities of more than one year. To minimize the currency risk associated with investments in bonds denominated in currencies other than the U.S. dollar, the Fund attempts to hedge its currency exposure.
Since it invests about 60% of its assets in stock mutual funds, the Portfolio primarily is subject to stock market risk. Approximately 40% of the Portfolio is invested in bond mutual funds, which means that the Portfolio has moderate levels of interest rate risk, credit risk, income risk, call risk, prepayment risk and extension risk. In addition, the Portfolio has moderate levels of country/regional risk, currency risk, and emerging markets risk, and low levels of index sampling risk, currency hedging risk, nondiversification risk, and derivatives risk.
| Name | 1 year | 3 year | 5 year | 10 year | Since Inception |
|---|---|---|---|---|---|
**Consists of the Spliced Institutional Total Stock Market Index (36%), the Spliced Total International Stock Index (24%), the Spliced Total Bond Market Index (28%), and the Bloomberg Barclays Global Aggregate ex-USD Float Adjusted RIC Capped Index (USD Hedged) (12%). The Spliced Institutional Total Stock Market Index consists of the Dow Jones Wilshire 5000 Index through April 8, 2005; the MSCI US Broad Market Index through January 14, 2013; and the CRSP US Total Market Index thereafter. The Spliced Total International Stock Index consists of the Total International Composite Index through August 21, 2006; the MSCI EAFE + Emerging Markets Index through December 15, 2010; the MSCI ACWI ex USA IMI Index through June 2, 2013; and the FTSE Global All Cap ex US Index thereafter. Returns for the MSCI indexes are adjusted for withholding taxes. The Spliced Total Bond Market Index consists of the Barclays U.S. Aggregate Bond Index through December 31, 2009; and the Bloomberg Barclays U.S. Aggregate Float Adjusted Index thereafter. Effective September 29, 2016, Barclays indexes were rebranded to Bloomberg Barclays indexes.
| Year Ended | |
|---|---|
