Vanguard Variable Annuity - Equity Index Portfolio
Holdings

Equity Characteristics as of 02/28/2017
 VVA-Equity IndexS&P 500 Index
Number of Stocks507505
Median Market Cap$88.5 billion$88.5 billion
Price/Earnings Ratio 23.5x23.5x
Price/Book Ratio 3.1x3.1x
Return on Equity 17.6%17.4%
Earnings Growth Rate 7.0%7.4%
Foreign Holdings0.1%
Turnover Rate (Fiscal Year End December)7.0%
Short-Term Reserves0.0%
Total Net Assets$1.5 billion

Equity Sector Diversification as of 02/28/2017
 VVA-Equity IndexS&P 500 Index
Consumer Discretionary12.10%12.10%
Consumer Staples9.50%9.40%
Energy6.60%6.60%
Financials14.80%14.80%
Health Care14.00%14.10%
Industrials10.20%10.20%
Information Technology21.50%21.50%
Materials2.80%2.80%
Other0.00%
Real Estate2.90%2.90%
Telecommunication Services2.40%2.40%
Utilities3.20%3.20%

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

Month End Ten Largest Holdings as of 02/28/2017
RankHolding
1Apple Inc.
2Microsoft Corp.
3Alphabet Inc.
4Exxon Mobil Corp.
5Amazon.com Inc.
6Johnson & Johnson
7Berkshire Hathaway Inc.
8JPMorgan Chase & Co.
9Facebook Inc.
10General Electric Co.
Ten largest holdings = 19.4% of total net assets

Quarter-end top ten holdings with weighting

Portfolio holdings

Glossary