Warning: Vanguard.com will not work properly with JavaScript disabled!
Vanguard - Fund Holdings

Funds, Stocks & ETFs  »  Vanguard Annuity Portfolios  »  Vanguard Annuity Portfolio Profile

Vanguard Variable Annuity - Balanced Portfolio
Holdings

The performance data shown represent past performance, which is not a guarantee of future results. Investment returns and principal value will fluctuate, so that investors' shares, when sold, may be worth more or less than their original cost. See performance data current to the most recent month-end, which may be higher or lower than that cited.

Asset Allocation as of 03/31/2014


Fund Characteristics as of 03/31/2014
 VVA-BalancedComposite Stock/Bond Index (VVIF)*
Turnover Rate (Fiscal Year End December)31.3%
Short-Term Reserves0.4%
Total Net Assets$1.8 billion

Equity Characteristics as of 03/31/2014
 VVA-BalancedS&P 500 Index *
Number of Stocks101500
Median Market Cap$85.3 billion$66.3 billion
Price/Earnings Ratio 16.5x18.6x
Price/Book Ratio 2.3x2.6x
Return on Equity 18.5%18.6%
Earnings Growth Rate 10.9%12.1%
Foreign Holdings9.0%

Fixed-Income Characteristics as of 03/31/2014
 VVA-BalancedBarclays US Credit A or Better Idx *
Number of Bonds6213039
Yield to Maturity 2.6%2.6%
Average Coupon3.8%3.9%
Average Maturity 8.8 years9.3
Average Duration 6.0 years6.5 years

Equity Sector Diversification as of 03/31/2014
 VVA-BalancedS&P 500 Index *
Consumer Discretionary7.70%12.10%
Consumer Staples8.30%9.70%
Energy10.50%10.10%
Financials21.10%16.40%
Health Care18.50%13.40%
Industrials13.00%10.70%
Information Technology13.00%18.60%
Materials2.10%3.50%
Other0.00%
Telecommunication Services2.60%2.40%
Utilities3.20%3.10%

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

Month End Ten Largest Holdings as of 03/31/2014
RankHolding
1Wells Fargo & Co.
2Merck & Co. Inc.
3Microsoft Corp.
4JPMorgan Chase & Co.
5Verizon Communications Inc.
6Exxon Mobil Corp.
7Chevron Corp.
8Comcast Corp.
9Johnson & Johnson
10CVS Caremark Corp.
Ten largest holdings = 16.6% of total net assets
Ten largest holdings = 24.9% of equities

Quarter-end top ten holdings with weighting

Portfolio holdings

Distribution By Issuer (% of bonds) as of 03/31/2014
 VVA-Balanced
Asset-Backed3.7%
Commercial Mortgage-Backed0.5%
Finance25.8%
Foreign2.4%
Government Mortgage-Backed8.3%
Industrial33.6%
Other4.7%
Treasury/Agency14.9%
Utilities6.1%
Total100.0%

Distribution By Credit Quality** (% of bonds) as of 03/31/2014
 VVA-Balanced
U.S. Government23.6%
Aaa4.8%
Aa10.8%
Aa23.9%
Aa39.2%
A110.1%
A215.5%
A315.7%
Baa111.1%
Baa24.7%
Baa30.6%
Total100.0%

* Made up of two unmanaged benchmarks, weighted 65% S&P 500 Index and 35% Barclays U.S. Credit A or Better Bond& Index.

* Credit-quality ratings are measured on a scale that generally ranges from AAA (highest) to D (lowest). "NR" is used to classify securities for which a rating is not available. U.S. Treasury, U.S. Agency, and U.S. Agency mortgage-backed securities appear under "U.S. Government." Vanguard managed taxable index bond funds, balanced funds, ETFs, and annuity portfolios; and Wellington Management Company managed bond funds, balanced funds and annuity portfolios: Credit-quality ratings for each issue are obtained from Barclays using ratings derived from Moody's Investors Service (Moody's), Fitch Ratings (Fitch), and Standard & Poor's (S&P). When ratings from all three agencies are available, the median rating is used. When ratings are available from two of the agencies, the lower rating is used. When one rating is available, that rating is used. Vanguard managed taxable non-index bond funds, municipal bond funds, balanced funds and annuity portfolios: Credit-quality ratings for each issue are obtained from Moody's and S&P, and the higher rating for each issue is used. Oaktree Capital Management managed fund: Credit-quality ratings are obtained from S&P. Vanguard taxable and municipal money market funds; annuity money market portfolios; and cash management trusts: The Distribution by Credit Quality table includes tier ratings for consistency with SEC Rule 2a-7 under the Investment Company Act of 1940, which governs money market funds. A First Tier security is one that is eligible for money market funds and has been rated in the highest short-term rating category for debt obligations by the requisite nationally recognized statistical rating organizations. An unrated security is First Tier if it represents quality comparable to that of a rated security, as determined in accordance with SEC Rule 2a-7. A Second Tier security is one that is eligible for money market funds and is not a First Tier security.

Glossary

© 1995–2014  The Vanguard Group, Inc. All rights reserved. Vanguard Marketing Corporation, distributor. Your use of this site signifies that you accept our terms & conditions of use.
Security  |  Prospectuses  |  Careers  |  Mobile  |  Feedback