Vanguard Variable Annuity - Mid-Cap Index Portfolio
Holdings

Equity Characteristics as of 09/30/2017
 VVA-Mid-Cap IndexCRSP US Mid Cap Index
Number of Stocks338339
Median Market Cap$13.6 billion
Price/Earnings Ratio 22.7x22.7x
Price/Book Ratio 2.6x2.6x
Return on Equity 13.1%13.1%
Earnings Growth Rate 10.3%10.3%
Foreign Holdings0.3%
Turnover Rate (Fiscal Year End December)20.8%
Short-Term Reserves
Total Net Assets$820.9 million

Equity Sector Diversification as of 09/30/2017
 VVA-Mid-Cap IndexCRSP US Mid Cap Index
Basic Materials4.40%4.40%
Consumer Goods11.30%11.30%
Consumer Services10.50%10.50%
Financials23.00%23.10%
Health Care8.40%8.40%
Industrials17.00%17.00%
Oil & Gas4.70%4.70%
Other0.00%
Technology14.30%14.30%
Telecommunications0.90%0.90%
Utilities5.50%5.40%

Sector categories are based on the Industry Classification Benchmark system.

Month End Ten Largest Holdings as of 09/30/2017
RankHolding
1Lam Research Corp.
2Fiserv Inc.
3Amphenol Corp.
4Western Digital Corp.
5Roper Technologies Inc.
6Autodesk Inc.
7Digital Realty Trust Inc.
8CR Bard Inc.
9Edwards Lifesciences Corp.
10Moody's Corp.
Ten largest holdings = 6.8% of total net assets

Quarter-end top ten holdings with weighting

Portfolio holdings

Glossary