Vanguard Lifetime Income Program - Moderate Allocation 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 09/30/2016
 1 Year3 Year5 Year10 YearSince Inception
VLIP-Moderate Allocation9.98%5.83% 6.85%
Moderate Allocation Composite Index*10.76%6.58% 9.60%7.59%

Recent Investment Returns
as of 10/27/2016
as of 09/30/2016
Three-Month Total
as of 09/30/2016
VLIP-Moderate Allocation5.24%6.93%0.26% 3.12%
Moderate Allocation Composite Index*7.34% 0.31%3.34%

See cumulative, yearly, and quarterly historical returns

*Weighted 42% S&P Total Market Index, 32% Bloomberg Barclays U.S. Aggregate Float Adjusted Index, 18% FTSE Global All Cap ex US Index, and 8% Bloomberg Barclays Global Aggregate ex-USD Float Adjusted RIC Capped Index as of June 3, 2013. Previously, the composite was 42% S&P Total Market Index, 40% Barclays U.S. Aggregate Float Adjusted Index, and 18% MSCI ACWI ex USA IMI Index. International stock benchmark returns are adjusted for withholding taxes.