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Vanguard Lifetime Income Program - REIT Index Portfolio

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 02/28/2015
 1 Year3 Year5 Year10 YearSince Inception
VLIP-REIT Index Portfolio21.79%14.58%16.87% 8.69%10.01%
REIT Spliced Index*22.69%15.44%17.74% 9.44%10.78%

Recent Investment Returns
as of 03/31/2015
as of 02/28/2015
Three-Month Total
as of 02/28/2015
VLIP-REIT Index Portfolio5.43%2.81%–3.61% 4.76%
REIT Spliced Index*2.95%–3.57% 4.94%

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.