Vanguard Lifetime Income Program - Mid-Cap Index Portfolio
Holdings

Equity Characteristics as of 10/31/2016
 VLIP-Mid-Cap IndexCRSP US Mid Cap Index
Number of Stocks339340
Median Market Cap$11.3 billion
Price/Earnings Ratio 25.6x25.7x
Price/Book Ratio 2.6x2.6x
Return on Equity 15.4%15.1%
Earnings Growth Rate 10.4%10.4%
Foreign Holdings0.3%
Turnover Rate (Fiscal Year End December)23.5%
Short-Term Reserves
Total Net Assets

Equity Sector Diversification as of 10/31/2016
 VLIP-Mid-Cap IndexCRSP US Mid Cap Index
Basic Materials4.30%4.30%
Consumer Goods13.90%13.90%
Consumer Services12.20%12.20%
Financials20.50%20.50%
Health Care7.80%7.90%
Industrials16.70%16.70%
Oil & Gas4.90%4.90%
Other0.00%
Technology13.20%13.10%
Telecommunications1.20%1.20%
Utilities5.30%5.30%

Sector categories are based on the Industry Classification Benchmark system.

Month End Ten Largest Holdings as of 10/31/2016
RankHolding
1Equinix Inc.
2Ross Stores Inc.
3Newell Brands Inc.
4Electronic Arts Inc.
5Fiserv Inc.
6ConAgra Foods Inc.
7Amphenol Corp.
8Edwards Lifesciences Corp.
9Newmont Mining Corp.
10WEC Energy Group Inc.
Ten largest holdings = 6.8% of total net assets

Quarter-end top ten holdings with weighting

Portfolio holdings

Glossary