Vanguard Lifetime Income Program - Mid-Cap Index Portfolio
Holdings

Equity Characteristics as of 01/31/2017
 VLIP-Mid-Cap IndexCRSP US Mid Cap Index
Number of Stocks340340
Median Market Cap$12.1 billion
Price/Earnings Ratio 26.5x26.5x
Price/Book Ratio 2.7x2.7x
Return on Equity 15.1%14.8%
Earnings Growth Rate 9.5%9.6%
Foreign Holdings0.7%
Turnover Rate (Fiscal Year End December)20.8%
Short-Term Reserves
Total Net Assets

Equity Sector Diversification as of 01/31/2017
 VLIP-Mid-Cap IndexCRSP US Mid Cap Index
Basic Materials4.60%4.60%
Consumer Goods13.30%13.30%
Consumer Services11.50%11.50%
Financials22.30%22.30%
Health Care8.00%8.00%
Industrials16.60%16.60%
Oil & Gas4.80%4.80%
Other0.00%
Technology13.10%13.10%
Telecommunications0.70%0.70%
Utilities5.10%5.10%

Sector categories are based on the Industry Classification Benchmark system.

Month End Ten Largest Holdings as of 01/31/2017
RankHolding
1Equinix Inc.
2Electronic Arts Inc.
3Fiserv Inc.
4Newell Brands Inc.
5Western Digital Corp.
6M&T Bank Corp.
7Amphenol Corp.
8Edwards Lifesciences Corp.
9Freeport-McMoRan Inc.
10Concho Resources Inc.
Ten largest holdings = 6.7% of total net assets

Quarter-end top ten holdings with weighting

Portfolio holdings

Glossary