Vanguard Lifetime Income Program - Mid-Cap Index Portfolio
Holdings

Equity Characteristics as of 11/30/2017
 VLIP-Mid-Cap IndexCRSP US Mid Cap Index
Number of Stocks338338
Median Market Cap$13.7 billion
Price/Earnings Ratio 23.7x23.7x
Price/Book Ratio 2.7x2.7x
Return on Equity 13.1%13.1%
Earnings Growth Rate 10.3%10.3%
Foreign Holdings0.2%
Turnover Rate (Fiscal Year End December)20.8%
Short-Term Reserves
Total Net Assets

Equity Sector Diversification as of 11/30/2017
 VLIP-Mid-Cap IndexCRSP US Mid Cap Index
Basic Materials4.30%4.30%
Consumer Goods11.40%11.40%
Consumer Services10.40%10.40%
Financials23.10%23.10%
Health Care8.40%8.40%
Industrials17.30%17.30%
Oil & Gas4.60%4.60%
Other0.00%
Technology14.40%14.40%
Telecommunications0.50%0.50%
Utilities5.60%5.60%

Sector categories are based on the Industry Classification Benchmark system.

Month End Ten Largest Holdings as of 11/30/2017
RankHolding
1Lam Research Corp.
2Fiserv Inc.
3Amphenol Corp.
4Roper Technologies Inc.
5Edwards Lifesciences Corp.
6Moody's Corp.
7CR Bard Inc.
8Autodesk Inc.
9Digital Realty Trust Inc.
10M&T Bank Corp.
Ten largest holdings = 6.6% of total net assets

Quarter-end top ten holdings with weighting

Portfolio holdings

Glossary