Vanguard High Dividend Yield ETF (VYM)

Quarter-End Holdings as of 12/31/2017

1Microsoft Corp.6.3%
2Johnson & Johnson3.7%
3JPMorgan Chase & Co.3.6%
4Exxon Mobil Corp.3.5%
5Wells Fargo & Co.2.6%
6AT&T Inc.2.4%
7Chevron Corp.2.3%
8Procter & Gamble Co.2.3%
9Intel Corp.2.1%
10Verizon Communications Inc.2.1%
Ten largest holdings = 30.9% of total net assets

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

Vanguard portfolio holdings disclaimer