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Vanguard Lifetime Income Program - REIT Index Portfolio
Performance

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.

Average Annual Returns—Updated Monthly as of 07/31/2015
 1 Year3 Year5 Year10 YearSince Inception
10/10/2003
VLIP-REIT Index Portfolio8.90%9.21%12.60% 6.25%9.25%
REIT Spliced Index*

Recent Investment Returns
 Year-to-Date
as of 08/03/2015
Year-to-Date
as of 07/31/2015
Previous
Month—July
Three-Month Total
as of 07/31/2015
VLIP-REIT Index Portfolio–0.83%–1.34% 5.58%0.32%
REIT Spliced Index*

See cumulative, yearly, and quarterly historical returns

*MSCI US REIT Index adjusted to include a 2% cash position (Lipper Money Market Average) through April 30, 2009; MSCI US REIT Index thereafter.