NAV as of 11/19/2009 $40.66 Change –$0.56 –1.36% Market Price as of 11/19/2009* $40.57 Change –$0.69 –1.68% Premium/Discount $0.02 SEC Yield — Expense ratio as of 02/26/2009 0.27% Inception date 03/04/2005 Ticker symbol VWO IOV ticker symbol VWO.IV * The market price is determined by the midpoint between the bid and asked prices as of the closing time of the New York Stock Exchange (typically 4 p.m., Eastern time) on business days.

Vanguard Emerging Markets ETF seeks to track the performance of a benchmark index that measures the investment return of stocks issued by companies located in emerging market countries. Learn more about this fund's investment strategy and policy. Check current market price

Vanguard ETF™ Shares can be bought and sold only through a broker (who will charge a commission) and cannot be redeemed with the issuing fund. The market price of Vanguard ETF Shares may be more or less than net asset value.

Type International/Global Stock Category Diversified Emerging Markets

Knowing a fund's investment style can help you understand how it might fit in your portfolio. This information can also help you build a portfolio that's broadly diversified across markets and less susceptible to sharp swings in any one market area.

The performance data shown represent past performance, which is not a guarantee of future results. Investment returns and principal value will fluctuate, so that investors' shares, when sold, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data cited. See performance data current to the most recent month-end. Expense ratio information can be found on the Overview page.

Important Vanguard ETF performance information

Display data in bar chart

	1 Year	3 Year	5 Year	10 Year	Since Inception 03/04/2005
Emerging Mkts ETF Market Price	17.28%	7.82%	—	—	12.20%
Emerging Mkts ETF NAV	17.52%	7.82%	—	—	12.07%
Spliced Emerging Markets Index**	19.07%	7.95%	16.98%	12.09%	12.30%

**Select Emerging Markets Index, administered exclusively for Vanguard by MSCI, through August 23, 2006; MSCI Emerging Markets Index thereafter. Index returns are adjusted for withholding taxes applicable to Luxembourg holding companies.

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