Vanguard High Dividend Yield ETF (VYM)

Quarter-End Holdings as of 05/31/2016

1Microsoft Corp.4.7%
2Exxon Mobil Corp.4.3%
3Johnson & Johnson3.6%
4General Electric Co.3.3%
5Wells Fargo & Co.3.0%
6AT&T Inc.2.8%
7JPMorgan Chase & Co.2.8%
8Procter & Gamble Co.2.6%
9Pfizer Inc.2.5%
10Verizon Communications Inc.2.4%
Ten largest holdings = 32.0% of total net assets

Portfolio holdings may exclude any temporary cash investments and equity index products.

Vanguard portfolio holdings disclaimer