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Vanguard Lifetime Income Program - Equity Income Portfolio
Average Annual Returns—Updated Monthly as of 10/31/2015
 VLIP-Equity Income Inception Date: 10/10/2003
 Spliced Equity Income Index (Benchmark)

The performance data shown represent past performance, which is not a guarantee of future results. Investment returns and principal value will fluctuate, so that investors' shares, when sold, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data cited. Expense ratio information can be found on the Overview page.

Recent Investment Returns
as of 11/25/2015
as of 10/31/2015
Three-Month Total
as of 10/31/2015
VLIP-Equity Income1.89%1.51%8.18%0.76%
Spliced Equity Income Index*1.14%8.37% 0.71%

See cumulative, yearly, and quarterly historical returns

*Russell 1000 Value Index through July 31, 2007; FTSE High Dividend Yield Index thereafter.