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Vanguard Lifetime Income Program - Conservative Allocation 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 —
 1 Year3 Year5 Year10 YearSince Inception
05/01/2012
VLIP-Conserv Allocation
Conservative AllocationComposite Ix*

Recent Investment Returns
 Year-to-Date
as of 02/27/2015
Year-to-Date
as of —
Previous
Month——
Three-Month Total
as of —
VLIP-Conserv Allocation2.17%
Conservative AllocationComposite Ix*

See cumulative, yearly, and quarterly historical returns

*Weighted 48% Barclays U.S. Aggregate Float Adjusted Index, 28% S&P Total Market Index, 12% Barclays Global Aggregate ex-USD Float Adjusted RIC Capped Index, and 12% FTSE Global All Cap ex US Index as of June 3, 2013. Previously, the composite was 60% Barclays U.S. Aggregate Float Adjusted Index, 28% S&P Total Market Index, and 12% MSCI ACWI ex USA IMI Index through June 2, 2013. International stock benchmark returns are adjusted for withholding taxes.

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