Vanguard Lifetime Income Program - Mid-Cap Index Portfolio
Holdings

Equity Characteristics as of 07/31/2017
 VLIP-Mid-Cap IndexCRSP US Mid Cap Index
Number of Stocks338339
Median Market Cap$13.3 billion
Price/Earnings Ratio 22.7x22.7x
Price/Book Ratio 2.6x2.6x
Return on Equity 13.1%13.1%
Earnings Growth Rate 10.2%10.2%
Foreign Holdings0.3%
Turnover Rate (Fiscal Year End December)20.8%
Short-Term Reserves
Total Net Assets

Equity Sector Diversification as of 07/31/2017
 VLIP-Mid-Cap IndexCRSP US Mid Cap Index
Basic Materials4.30%4.30%
Consumer Goods12.20%12.20%
Consumer Services11.10%11.10%
Financials23.20%23.20%
Health Care8.60%8.60%
Industrials16.60%16.60%
Oil & Gas4.30%4.30%
Other0.00%
Technology13.40%13.40%
Telecommunications1.00%1.00%
Utilities5.30%5.30%

Sector categories are based on the Industry Classification Benchmark system.

Month End Ten Largest Holdings as of 07/31/2017
RankHolding
1Fiserv Inc.
2Lam Research Corp.
3Newell Brands Inc.
4Western Digital Corp.
5Edwards Lifesciences Corp.
6Roper Technologies Inc.
7Amphenol Corp.
8CR Bard Inc.
9Autodesk Inc.
10Incyte Corp.
Ten largest holdings = 7.1% of total net assets

Quarter-end top ten holdings with weighting

Portfolio holdings

Glossary