Vanguard Variable Annuity - Equity Index Portfolio
Holdings

Equity Characteristics as of 10/31/2016
 VVA-Equity IndexS&P 500 Index
Number of Stocks507506
Median Market Cap$78.6 billion$78.6 billion
Price/Earnings Ratio 21.7x21.8x
Price/Book Ratio 2.8x2.8x
Return on Equity 17.8%17.5%
Earnings Growth Rate 8.2%8.2%
Foreign Holdings0.0%
Turnover Rate (Fiscal Year End December)3.8%
Short-Term Reserves
Total Net Assets$1.3 billion

Equity Sector Diversification as of 10/31/2016
 VVA-Equity IndexS&P 500 Index
Consumer Discretionary12.50%12.30%
Consumer Staples10.00%10.00%
Energy7.20%7.20%
Financials13.30%13.30%
Health Care14.00%14.00%
Industrials9.80%10.00%
Information Technology21.60%21.60%
Materials2.80%2.80%
Other0.00%
Real Estate2.90%2.90%
Telecommunication Services2.50%2.50%
Utilities3.40%3.40%

Sector categories are based on the Global Industry Classification Standard system.

Month End Ten Largest Holdings as of 10/31/2016
RankHolding
1Apple Inc.
2Alphabet Inc.
3Microsoft Corp.
4Exxon Mobil Corp.
5Johnson & Johnson
6Amazon.com Inc.
7Facebook Inc.
8Berkshire Hathaway Inc.
9General Electric Co.
10JPMorgan Chase & Co.
Ten largest holdings = 19.5% of total net assets

Quarter-end top ten holdings with weighting

Portfolio holdings

Glossary