VMC Statement of Financial Condition—Unaudited (June 30, 2009)

VMC Statement of Financial Condition—Audited (December 31, 2009)

You must buy and sell Vanguard ETF® Shares through a broker like Vanguard Brokerage Services (we offer them commission-free) or through another broker (you may incur commissions). Vanguard ETFs are not redeemable directly with an applicant fund other than in creation unit aggregations. Like stocks, ETFs are subject to market volatility, so you could pay more than net asset value when buying and receive less than net asset value when selling any ETF.

Note on account protection: Securities in your brokerage account are held in custody by Vanguard Brokerage Services, a division of Vanguard Marketing Corporation, member FINRA and SIPC. Account protection information.

Visit the FINRA website.

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