A mutual fund may offer more than one “class” of shares to investors. Each class represents a similar interest in the mutual fund’s portfolio, but is offered at a different price. Fees and expenses will vary according to class; therefore, investment returns will differ.

© 1995–2022  The Vanguard Group, Inc. All rights reserved. Vanguard Marketing Corporation, Distributor of the Vanguard Funds. Your use of this site signifies that you accept our terms & conditions of use.
Privacy policy  |  AdChoices  |  Security  |  Prospectuses  |  Careers  |  Mobile  |  Feedback