Vanguard Lifetime Income Program - Mid-Cap Index Portfolio
Holdings

Equity Characteristics as of 02/28/2017
 VLIP-Mid-Cap IndexCRSP US Mid Cap Index
Number of Stocks341341
Median Market Cap$12.6 billion
Price/Earnings Ratio 29.1x29.1x
Price/Book Ratio 2.8x2.8x
Return on Equity 15.1%14.8%
Earnings Growth Rate 9.4%9.4%
Foreign Holdings0.8%
Turnover Rate (Fiscal Year End December)20.8%
Short-Term Reserves
Total Net Assets

Equity Sector Diversification as of 02/28/2017
 VLIP-Mid-Cap IndexCRSP US Mid Cap Index
Basic Materials4.50%4.50%
Consumer Goods13.30%13.30%
Consumer Services11.40%11.40%
Financials22.60%22.60%
Health Care8.20%8.20%
Industrials16.50%16.50%
Oil & Gas4.60%4.50%
Other0.00%
Technology13.10%13.10%
Telecommunications0.60%0.70%
Utilities5.20%5.20%

Sector categories are based on the Industry Classification Benchmark system.

Month End Ten Largest Holdings as of 02/28/2017
RankHolding
1Equinix Inc.
2Fiserv Inc.
3Electronic Arts Inc.
4Newell Brands Inc.
5M&T Bank Corp.
6Western Digital Corp.
7Amphenol Corp.
8Incyte Corp.
9Roper Technologies Inc.
10KeyCorp
Ten largest holdings = 6.6% of total net assets

Quarter-end top ten holdings with weighting

Portfolio holdings

Glossary