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Vanguard Lifetime Income Program - REIT Index Portfolio
Average Annual Returns—Updated Monthly as of 11/30/2015
 VLIP-REIT Index Portfolio Inception Date: 10/10/2003
 REIT Spliced 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 11/30/2015
as of 11/30/2015
Three-Month Total
as of 11/30/2015
VLIP-REIT Index Portfolio–0.03%–0.03% –0.63%8.19%
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.