Vanguard High Dividend Yield ETF (VYM)

Quarter-End Holdings as of 07/31/2016

1Microsoft Corp.4.8%
2Exxon Mobil Corp.4.1%
3Johnson & Johnson3.9%
4General Electric Co.3.2%
5AT&T Inc.3.0%
6Wells Fargo & Co.2.7%
7JPMorgan Chase & Co.2.6%
8Procter & Gamble Co.2.6%
9Verizon Communications Inc.2.5%
10Pfizer Inc.2.5%
Ten largest holdings = 31.9% of total net assets

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

Vanguard portfolio holdings disclaimer