Vanguard Variable Annuity - Moderate Allocation Portfolio

Asset Allocation as of 12/31/2016

Fund Characteristics as of 12/31/2016
 VVA-Moderate AllocationModerate Allocation Composite Index*
Fund Total Net Assets$293.8 million

Allocation To Underlying Funds as of 12/31/2016
Ranking By PercentageFundPercentage
1Vanguard Variable Insurance Fund - Equity Index Portfolio 34.0%
2Vanguard Variable Insurance Fund - Total Bond Market Index Portfolio 32.1%
3Vanguard Total International Stock Index Fund Investor Shares 18.1%
4Vanguard Total International Bond Index Fund Investor Shares 8.1%
5Vanguard Extended Market Index Fund Investor Shares 7.7%

* Weighted 42% S&P Total Market Index, 32% Bloomberg Barclays U.S. Aggregate Float Adjusted Index, 18% FTSE Global All Cap ex US Index, and 8% Bloomberg Barclays Global Aggregate ex-USD Float Adjusted RIC Capped Index as of June 3, 2013. Previously, the composite was 42% S&P Total Market Index, 40% Barclays U.S. Aggregate Float Adjusted Index, and 18% MSCI ACWI ex USA IMI Index. International stock benchmark returns are adjusted for withholding taxes.