Interim Financial Statements | June 30, 2021

Vanguard ETFs™

Notice to Unitholders: The accompanying financial statements have not been reviewed by the external auditor of the Funds. The external auditor will audit the annual financial statements of the Funds in accordance with Canadian generally accepted auditing standards. Contents

Vanguard Canadian Aggregate Bond Index ETF 1 Vanguard Canadian Corporate Bond Index ETF 19 Vanguard Canadian Government Bond Index ETF 31 Vanguard Canadian Long-Term Bond Index ETF 39 Vanguard Canadian Short-Term Bond Index ETF 47 Vanguard Canadian Short-Term Corporate Bond Index ETF 56 Vanguard FTSE Canada All Cap Index ETF 64 Vanguard FTSE Canada Index ETF 71 Vanguard FTSE Canadian Capped REIT Index ETF 76 Vanguard FTSE Canadian High Dividend Yield Index ETF 81 Vanguard FTSE Developed All Cap ex North America Index ETF 86 Vanguard FTSE Developed All Cap ex North America Index ETF (CAD-hedged) 143 Vanguard FTSE Developed All Cap ex U.S. Index ETF 150 Vanguard FTSE Developed All Cap ex U.S. Index ETF (CAD-hedged) 154 Vanguard FTSE Developed Asia Pacific All Cap Index ETF 163 Vanguard FTSE Developed Europe All Cap Index ETF 199 Vanguard FTSE Developed ex North America High Dividend Yield Index ETF 222 Vanguard FTSE Emerging Markets All Cap Index ETF 235 Vanguard FTSE Global All Cap ex Canada Index ETF 240 Vanguard Global Aggregate Bond Index ETF (CAD-hedged) 244 Vanguard Global ex-U.S. Aggregate Bond Index ETF (CAD-hedged) 247 Vanguard S&P 500 Index ETF 252 Vanguard S&P 500 Index ETF (CAD-hedged) 257 Vanguard U.S. Aggregate Bond Index ETF (CAD-hedged) 262 Vanguard U.S. Dividend Appreciation Index ETF 267 Vanguard U.S. Dividend Appreciation Index ETF (CAD-hedged) 270 Vanguard U.S. Total Market Index ETF 275 Vanguard U.S. Total Market Index ETF (CAD-hedged) 279 Notes to the Financial Statements 284 Vanguard Canadian Aggregate Bond Index ETF

Statement of Financial Position As at June 30, 2021 (unaudited), and December 31, 2020

June 30, December 31, 2021 2020 Assets Current assets Investments $3,366,269,193 $3,222,746,629 Cash 11,869,022 4,700,345 Amounts receivable for redeemable units issued 7,791,330 — Amounts receivable for investments sold 122,628,050 51,131,794 Interest receivable 15,320,999 14,698,733 Total assets 3,523,878,594 3,293,277,501 Liabilities Current liabilities Amounts payable for investments purchased 165,861,450 43,107,248 Distributions payable 7,637,959 5,044,840 Accrued expenses and other liabilities 129,863 53,130 Total liabilities excluding net assets attributable to holders of redeemable units 173,629,272 48,205,218 Total net assets attributable to holders of redeemable units $3,350,249,322 $3,245,072,283 Number of redeemable units outstanding (Note 9) 129,000,000 118,900,000 Net assets attributable to holders of redeemable units per unit $25.97 $27.29

Statement of Comprehensive Income For the six months ended June 30, 2021, and June 30, 2020 (unaudited)

2021 2020 Income Net gain (loss) on investments Interest for distribution purposes $42,505,109 $38,720,402 Net realized gain (loss) on sale of investments (163,887) 20,145,845 Change in unrealized appreciation/depreciation of investments (159,526,449) 149,439,668 Net gain (loss) on investments (117,185,227) 208,305,915 Total income (net) (117,185,227) 208,305,915 Expenses (Note 10) Management fees 1,443,946 1,275,438 Independent Review Committee fees 1,341 1,352 Foreign withholding taxes 3,126 4,922 Total expenses 1,448,413 1,281,712 Expenses absorbed or waived by manager (1,341) (1,352) Net expenses 1,447,072 1,280,360 Increase (decrease) in net assets attributable to holders of redeemable units $(118,632,299) $207,025,555 Weighted average number of redeemable units 125,758,011 108,468,132 Increase (decrease) in net assets attributable to holders of redeemable units per unit $(0.94) $1.91

The accompanying notes are an integral part of the financial statements.

1 Vanguard Canadian Aggregate Bond Index ETF

Statement of Changes in Net Assets Attributable to Holders of Redeemable Units For the six months ended June 30, 2021, and June 30, 2020 (unaudited)

2021 2020 Net assets attributable to holders of redeemable units, beginning of period $3,245,072,283 $2,668,992,485 Increase (decrease) in net assets attributable to holders of redeemable units $(118,632,299) $207,025,555 Distributions to holders of redeemable units Net investment income (42,818,682) (39,184,662) Total distributions to holders of redeemable units (42,818,682) (39,184,662) Redeemable unit transactions Proceeds from issuance of redeemable units 368,358,880 331,951,160 Payment for redeemable units redeemed (101,730,860) (140,094,100) Net redeemable unit transactions 266,628,020 191,857,060 Net assets attributable to holders of redeemable units, end of period $3,350,249,322 $3,028,690,438

Statement of Cash Flows For the six months ended June 30, 2021, and June 30, 2020 (unaudited)

2021 2020 Cash flows from (used in) operating activities Increase (decrease) in net assets attributable to holders of redeemable units $(118,632,299) $207,025,555 Adjustments for: Net realized (gain) loss on sale of investments 163,887 (20,145,845) Change in unrealized appreciation/depreciation of investments 159,526,449 (149,439,668) 1 Purchase of investments (421,616,655) (602,903,587) 2 Proceeds from sale of investments 426,841,316 600,278,443 Change in working capital (545,533) (1,339,050) Net cash from (used in) operating activities 45,737,165 33,475,848 Cash flows from (used in) financing activities 1 Proceeds from issuance of redeemable units 1,976,540 8,661,730 Distributions to holders of redeemable units, net of reinvested distributions (40,225,563) (37,047,618) 2 Payment for redeemable units redeemed (319,465) (1,160,851) Net cash from (used in) financing activities (38,568,488) (29,546,739) Net increase (decrease) in cash during the period $7,168,677 $3,929,109 Cash, beginning of period $4,700,345 $1,705,302 Cash, end of period $11,869,022 $5,634,411 Supplemental cash flow information relating to operating activities Interest received, net of foreign withholding taxes, if applicable $41,879,717 $37,296,271

1 Excludes in-kind transactions of $358,591,010 and $323,325,610 for the periods ended June 30, 2021 and 2020. 2 Excludes in-kind transactions of $101,411,395 and $138,933,249 for the periods ended June 30, 2021 and 2020.

The accompanying notes are an integral part of the financial statements.

2 Vanguard Canadian Aggregate Bond Index ETF

Schedule of Investment Portfolio As at June 30, 2021 (unaudited)

Description Currency Par Value Cost ($) Fair Value ($) % of Net Assets Fixed income Financial Bank of Nova Scotia 2.38% May 01/23 CAD 6,151,000 6,207,843 6,315,539 0.2 Toronto-Dominion Bank 3.11% Apr 22/30 CAD 5,159,000 5,260,439 5,434,645 0.2 Bank of Montreal 3.19% Mar 01/28 CAD 4,279,000 4,564,298 4,665,479 0.1 Bank of Montreal 2.89% Jun 20/23 CAD 4,292,000 4,395,572 4,467,285 0.1 Royal Bank of Canada 2.61% Nov 01/24 CAD 4,157,000 4,210,894 4,332,301 0.1 Toronto-Dominion Bank 3.01% May 30/23 CAD 4,106,000 4,193,181 4,279,396 0.1 Royal Bank of Canada 2.33% Jan 28/27 CAD 4,007,000 4,066,516 4,119,116 0.1 Canadian Imperial Bank of Commerce 2.00% Apr 17/25 CAD 3,904,000 3,939,747 3,985,672 0.1 Canadian Imperial Bank of Commerce 3.30% May 26/25 CAD 3,528,000 3,676,799 3,805,124 0.1 Royal Bank of Canada 3.30% Sep 26/23 CAD 3,589,000 3,692,550 3,770,137 0.1 Toronto-Dominion Bank 2.85% Mar 08/24 CAD 3,555,000 3,621,599 3,718,423 0.1 Royal Bank of Canada 2.36% Dec 05/22 CAD 3,605,000 3,677,981 3,694,116 0.1 Toronto-Dominion Bank 3.23% Jul 24/24 CAD 3,438,000 3,603,817 3,658,926 0.1 Bank of Montreal 2.85% Mar 06/24 CAD 3,428,000 3,508,130 3,582,500 0.1 Toronto-Dominion Bank 1.91% Jul 18/23 CAD 3,445,000 3,435,046 3,521,651 0.1 Bank of Montreal 2.27% Jul 11/22 CAD 3,408,000 3,414,205 3,472,036 0.1 Royal Bank of Canada 2.95% May 01/23 CAD 3,293,000 3,375,514 3,424,358 0.1 Royal Bank of Canada 2.35% Jul 02/24 CAD 3,212,000 3,255,030 3,318,028 0.1 Bank of Nova Scotia 3.89% Jan 18/29 CAD 3,053,000 3,172,250 3,250,132 0.1 Bank of Montreal 2.70% Sep 11/24 CAD 3,076,000 3,176,728 3,227,524 0.1 Toronto-Dominion Bank 3.06% Jan 26/32 CAD 3,052,000 3,105,643 3,218,151 0.1 Toronto-Dominion Bank 1.13% Dec 09/25 CAD 3,265,000 3,257,376 3,205,740 0.1 Canadian Imperial Bank of Commerce 2.95% Jun 19/29 CAD 3,006,000 3,061,115 3,134,116 0.1 Toronto-Dominion Bank 2.50% Dec 02/24 CAD 3,005,000 3,059,911 3,122,826 0.1 Canadian Imperial Bank of Commerce 2.35% Aug 28/24 CAD 3,010,000 3,068,286 3,109,420 0.1 Bank of Nova Scotia 3.10% Feb 02/28 CAD 2,783,000 2,915,604 3,016,466 0.1 Toronto-Dominion Bank 3.59% Sep 14/28 CAD 2,866,000 2,947,764 3,016,264 0.1 Bank of Montreal 2.28% Jul 29/24 CAD 2,903,000 2,916,342 2,993,370 0.1 Toronto-Dominion Bank 1.94% Mar 13/25 CAD 2,856,000 2,845,057 2,914,234 0.1 Canadian Imperial Bank of Commerce 2.01% Jul 21/30 CAD 2,885,000 2,916,549 2,913,215 0.1 Canadian Imperial Bank of Commerce 2.97% Jul 11/23 CAD 2,772,000 2,843,553 2,891,723 0.1 HSBC Bank Canada 2.54% Jan 31/23 CAD 2,760,000 2,769,277 2,834,299 0.1 Bank of Nova Scotia 2.16% Feb 03/25 CAD 2,734,000 2,749,712 2,808,802 0.1 Bank of Montreal 2.37% Feb 03/25 CAD 2,700,000 2,716,967 2,792,529 0.1 Bank of Nova Scotia 2.49% Sep 23/24 CAD 2,688,000 2,707,666 2,790,332 0.1 Bank of Nova Scotia 2.36% Nov 08/22 CAD 2,722,000 2,742,853 2,786,593 0.1 Bank of Nova Scotia 2.29% Jun 28/24 CAD 2,672,000 2,685,857 2,767,417 0.1 Royal Bank of Canada 1.94% May 01/25 CAD 2,710,000 2,760,367 2,761,707 0.1 Bank of Nova Scotia 2.84% Jul 03/29 CAD 2,624,000 2,653,692 2,730,351 0.1 Royal Bank of Canada 2.88% Dec 23/29 CAD 2,597,000 2,620,461 2,711,138 0.1 Toronto-Dominion Bank 1.89% Mar 08/28 CAD 2,705,000 2,704,052 2,700,699 0.1 Canadian Imperial Bank of Commerce 3.45% Apr 04/28 CAD 2,566,000 2,597,585 2,671,591 0.1 Royal Bank of Canada 2.33% Dec 05/23 CAD 2,521,000 2,541,048 2,606,790 0.1 Toronto-Dominion Bank 3.22% Jul 25/29 CAD 2,440,000 2,532,537 2,569,247 0.1 Royal Bank of Canada 2.74% Jul 25/29 CAD 2,450,000 2,470,831 2,543,247 0.1 Bank of Nova Scotia 2.62% Dec 02/26 CAD 2,280,000 2,289,242 2,407,931 0.1 Bank of Nova Scotia 2.98% Apr 17/23 CAD 2,289,000 2,350,470 2,379,782 0.1 Toronto-Dominion Bank 4.86% Mar 04/31 CAD 2,092,000 2,351,076 2,372,579 0.1 HSBC Bank Canada 3.25% Sep 15/23 CAD 2,246,000 2,314,189 2,353,404 0.1 Bank of Montreal 2.08% Jun 17/30 CAD 2,300,000 2,313,921 2,334,224 0.1 Royal Bank of Canada 2.09% Jun 30/30 CAD 2,255,000 2,265,284 2,289,321 0.1 Royal Office Finance LP 5.21% Nov 12/37 CAD 1,801,914 2,223,598 2,226,041 0.1 Canadian Imperial Bank of Commerce 3.29% Jan 15/24 CAD 2,080,000 2,181,352 2,193,859 0.1 JPMorgan Chase & Co. 1.90% Mar 05/28 CAD 2,200,000 2,197,049 2,192,762 0.1 Canadian Imperial Bank of Commerce 1.96% Apr 21/31 CAD 2,085,000 2,088,443 2,085,146 0.1 Royal Bank of Canada 1.59% May 04/26 CAD 2,060,000 2,061,870 2,053,738 0.1 HSBC Bank Canada 1.78% May 20/26 CAD 2,050,000 2,051,951 2,053,464 0.1 Canadian Imperial Bank of Commerce 2.43% Jun 09/23 CAD 1,994,000 2,006,728 2,051,607 0.1 Canadian Imperial Bank of Commerce 2.47% Dec 05/22 CAD 1,991,000 1,998,561 2,043,164 0.1 Canadian Imperial Bank of Commerce 1.10% Jan 19/26 CAD 2,085,000 2,083,550 2,037,212 0.1 National Bank of Canada 2.55% Jul 12/24 CAD 1,872,000 1,896,003 1,944,278 0.1 Choice Properties REIT 3.53% Jun 11/29 CAD 1,805,000 1,870,498 1,924,834 0.1 Royal Bank of Canada 4.93% Jul 16/25 CAD 1,679,000 1,940,263 1,920,524 0.1 Morgan Stanley 3.00% Feb 07/24 CAD 1,816,500 1,844,153 1,900,168 0.1 Bank of Montreal 1.55% May 28/26 CAD 1,910,000 1,907,455 1,899,839 0.1 Bank of America Corp. 2.93% Apr 25/25 CAD 1,818,000 1,869,472 1,898,901 0.1

3 Vanguard Canadian Aggregate Bond Index ETF

Description Currency Par Value Cost ($) Fair Value ($) % of Net Assets Sun Life Financial, Inc. 2.58% May 10/32 CAD 1,840,000 1,873,710 1,896,948 0.1 HSBC Bank Canada 2.25% Sep 15/22 CAD 1,824,000 1,839,343 1,857,945 0.1 Bank of Montreal 2.88% Sep 17/29 CAD 1,776,000 1,786,302 1,851,462 0.1 Wells Fargo & Co. 3.87% May 21/25 CAD 1,685,000 1,750,840 1,817,677 0.1 Wells Fargo & Co. 2.51% Oct 27/23 CAD 1,755,000 1,782,734 1,810,528 0.1 Wells Fargo & Co. 2.98% May 19/26 CAD 1,702,000 1,712,287 1,788,155 0.1 National Australia Bank Ltd. 3.52% Jun 12/30 CAD 1,699,000 1,711,236 1,783,644 0.1 Wells Fargo & Co. 2.49% Feb 18/27 CAD 1,742,000 1,753,199 1,782,623 0.1 Wells Fargo & Co. 3.18% Feb 08/24 CAD 1,694,500 1,756,467 1,777,632 0.1 Federation des Caisses Desjardins du Quebec 1.09% Jan 21/26 CAD 1,819,000 1,817,254 1,775,962 0.1 Bank of Nova Scotia 1.40% Nov 01/27 CAD 1,815,000 1,799,669 1,761,512 0.1 Federation des Caisses Desjardins du Quebec 2.86% May 26/30 CAD 1,691,000 1,713,941 1,760,821 0.1 Wells Fargo & Co. 2.57% May 01/26 CAD 1,701,000 1,712,046 1,759,719 0.1 Bank of America Corp. 3.30% Apr 24/24 CAD 1,685,000 1,721,512 1,755,753 0.1 Scotiabank Capital Trust 5.65% Dec 31/56 CAD 1,328,000 1,591,940 1,745,802 0.1 New York Life Global Funding 2.00% Apr 17/28 CAD 1,725,000 1,727,760 1,733,263 0.1 Federation des Caisses Desjardins du Quebec 2.42% Oct 04/24 CAD 1,637,000 1,643,039 1,694,459 0.1 National Bank of Canada 3.18% Feb 01/28 CAD 1,640,000 1,673,044 1,693,923 0.1 Manulife Financial Corp. 2.24% May 12/30 CAD 1,630,000 1,631,696 1,668,827 0.1 Manulife Financial Corp. 2.82% May 13/35 CAD 1,620,000 1,629,402 1,653,615 0.1 Goldman Sachs Group, Inc. 2.01% Feb 28/29 CAD 1,675,000 1,671,777 1,648,836 0.1 National Bank of Canada 2.98% Mar 04/24 CAD 1,568,000 1,603,187 1,643,781 0.1 Federation des Caisses Desjardins du Quebec 1.99% May 28/31 CAD 1,635,000 1,635,847 1,631,468 0.1 Federation des Caisses Desjardins du Quebec 3.06% Sep 11/23 CAD 1,532,000 1,593,255 1,604,280 0.1 Bank of America Corp. 1.98% Sep 15/27 CAD 1,605,000 1,603,905 1,603,572 0.1 Brookfield Asset Management, Inc. 4.82% Jan 28/26 CAD 1,421,000 1,556,817 1,599,804 0.1 HSBC Holdings plc 3.20% Dec 05/23 CAD 1,498,000 1,545,934 1,569,814 0.1 Royal Bank of Canada 1.67% Jan 28/33 CAD 1,620,000 1,605,918 1,567,755 0.1 National Bank of Canada 1.57% Aug 18/26 CAD 1,555,000 1,563,994 1,556,057 0.1 Plenary Properties LTAP LP 6.29% Jan 31/44 CAD 1,144,215 1,516,506 1,533,454 0.1 Metropolitan Life Global Funding I 1.95% Mar 20/28 CAD 1,535,000 1,529,643 1,528,952 0.1 Manufacturers Life Insurance Co. 3.18% Nov 22/27 CAD 1,471,000 1,503,434 1,518,381 0.1 Manulife Financial Corp. 3.05% Aug 20/29 CAD 1,447,000 1,487,019 1,518,279 0.1 Federation des Caisses Desjardins du Quebec 2.39% Aug 25/22 CAD 1,447,000 1,444,510 1,478,024 0.1 Bank of Montreal 4.61% Sep 10/25 CAD 1,300,000 1,494,567 1,472,614 0.1 Manulife Financial Corp. 3.32% May 09/28 CAD 1,408,000 1,455,492 1,465,489 0.1 Goldman Sachs Group, Inc. 3.31% Oct 31/25 CAD 1,366,000 1,409,010 1,446,048 0.1 Sun Life Financial, Inc. 2.38% Aug 13/29 CAD 1,398,000 1,417,208 1,439,423 0.1 Fairfax Financial Holdings Ltd. 4.70% Dec 16/26 CAD 1,286,000 1,400,399 1,427,331 0.1 Sun Life Financial, Inc. 2.06% Oct 01/35 CAD 1,467,000 1,466,486 1,413,983 0.0 Bank of Montreal 2.70% Dec 09/26 CAD 1,305,000 1,361,484 1,383,430 0.0 OMERS Realty Corp. 3.24% Oct 04/27 CAD 1,269,000 1,309,616 1,371,154 0.0 Manulife Finance Delaware LP 5.06% Dec 15/41 CAD 1,126,000 1,294,258 1,363,271 0.0 Fairfax Financial Holdings Ltd. 3.95% Mar 03/31 CAD 1,240,000 1,241,881 1,283,846 0.0 Choice Properties REIT 3.56% Sep 09/24 CAD 1,144,000 1,189,687 1,214,001 0.0 Ventas Canada Finance Ltd. 2.80% Apr 12/24 CAD 1,141,000 1,148,826 1,181,711 0.0 Sun Life Financial, Inc. 3.05% Sep 19/28 CAD 1,126,000 1,151,902 1,172,222 0.0 National Bank of Canada 2.58% Feb 03/25 CAD 1,090,000 1,100,294 1,135,693 0.0 Citigroup, Inc. 4.09% Jun 09/25 CAD 1,008,000 1,054,429 1,096,351 0.0 Great-West Lifeco, Inc. 2.38% May 14/30 CAD 1,082,000 1,090,079 1,092,149 0.0 Bank of Montreal 1.76% Mar 10/26 CAD 1,080,000 1,081,822 1,086,664 0.0 Bank of America Corp. 2.60% Apr 04/29 CAD 1,050,000 1,052,315 1,072,900 0.0 Metropolitan Life Global Funding I 3.39% Apr 09/30 CAD 988,000 1,059,302 1,065,163 0.0 Bank of America Corp. 3.41% Sep 20/25 CAD 966,000 990,666 1,025,815 0.0 Allied Properties REIT 1.73% Feb 12/26 CAD 1,020,000 1,017,644 1,005,281 0.0 Brookfield Asset Management, Inc. 5.95% Jun 14/35 CAD 792,000 941,670 1,003,131 0.0 Brookfield Asset Management, Inc. 5.04% Mar 08/24 CAD 917,000 1,003,368 999,943 0.0 Sun Life Financial, Inc. 2.75% Nov 23/27 CAD 967,000 979,847 991,475 0.0 OMERS Realty Corp. 3.63% Jun 05/30 CAD 890,000 934,746 991,006 0.0 Bank of America Corp. 3.52% Mar 24/26 CAD 925,000 992,066 989,630 0.0 Manulife Bank of Canada 2.38% Nov 19/24 CAD 950,000 991,088 985,919 0.0 AIMCo Realty Investors LP 2.71% Jun 01/29 CAD 948,000 964,534 983,853 0.0 OMERS Realty Corp. 2.86% Feb 23/24 CAD 938,000 971,689 980,885 0.0 Great-West Lifeco, Inc. 6.67% Mar 21/33 CAD 707,000 973,728 980,475 0.0 RioCan REIT 2.58% Feb 12/25 CAD 944,000 949,144 968,959 0.0 RioCan REIT 1.97% Jun 15/26 CAD 979,000 978,475 967,800 0.0 Wells Fargo Canada Corp. 3.46% Jan 24/23 CAD 927,000 967,997 965,118 0.0 Fairfax Financial Holdings Ltd. 4.25% Dec 06/27 CAD 887,000 890,195 963,291 0.0 Choice Properties REIT 4.18% Mar 08/28 CAD 860,000 899,571 952,493 0.0 Brookfield Asset Management, Inc. 3.80% Mar 16/27 CAD 869,000 921,124 948,340 0.0 Great-West Lifeco, Inc. 3.34% Feb 28/28 CAD 867,000 925,511 940,253 0.0 Canadian Western Bank 1.93% Apr 16/26 CAD 935,000 936,354 936,992 0.0 Canadian Western Bank 1.82% Dec 16/27 CAD 950,000 952,106 928,159 0.0 Granite REIT Holdings LP 3.06% Jun 04/27 CAD 874,000 899,118 918,469 0.0

4 Vanguard Canadian Aggregate Bond Index ETF

Description Currency Par Value Cost ($) Fair Value ($) % of Net Assets Fairfax Financial Holdings Ltd. 4.23% Jun 14/29 CAD 847,000 858,511 914,896 0.0 Athene Global Funding 2.10% Sep 24/25 CAD 900,000 900,007 911,556 0.0 Ivanhoe Cambridge II, Inc. 2.91% Jun 27/23 CAD 877,000 889,720 909,519 0.0 National Bank of Canada 1.53% Jun 15/26 CAD 915,000 915,000 909,190 0.0 Great-West Lifeco, Inc. 6.00% Nov 16/39 CAD 660,000 898,611 909,058 0.0 Central 1 Credit Union 2.60% Nov 07/22 CAD 885,000 894,626 906,373 0.0 CI Financial Corp. 3.76% May 26/25 CAD 850,000 873,071 906,227 0.0 Lloyds Banking Group plc 3.50% Feb 03/25 CAD 846,000 850,032 900,948 0.0 Manulife Bank of Canada 1.50% Jun 25/25 CAD 890,000 890,236 894,494 0.0 Brookfield Property Finance ULC 4.35% Jul 03/23 CAD 856,000 876,743 890,017 0.0 Brookfield Property Finance ULC 3.93% Jan 15/27 CAD 858,000 868,212 881,492 0.0 Granite REIT Holdings LP 2.38% Dec 18/30 CAD 900,000 899,722 873,531 0.0 Hyundai Capital Canada, Inc. 2.01% May 12/26 CAD 870,000 870,000 871,992 0.0 Brookfield Property Finance ULC 3.93% Aug 24/25 CAD 825,000 833,711 854,304 0.0 Aviva plc 4.00% Oct 02/30 CAD 800,000 802,579 852,824 0.0 Choice Properties REIT 3.55% Jan 10/25 CAD 799,000 819,432 849,912 0.0 Capital City Link General Partnership 4.39% Mar 31/46 CAD 753,932 833,084 839,797 0.0 OMERS Realty Corp. 3.36% Jun 05/23 CAD 801,000 832,673 838,839 0.0 Laurentian Bank of Canada 3.45% Jun 27/23 CAD 799,000 812,268 835,762 0.0 RioCan REIT 3.29% Feb 12/24 CAD 798,000 820,113 833,926 0.0 Intact Financial Corp. 2.85% Jun 07/27 CAD 779,000 810,364 819,337 0.0 iA Financial Corp. Inc. 2.40% Feb 21/30 CAD 792,000 805,007 813,360 0.0 Manulife Bank of Canada 1.34% Feb 26/26 CAD 820,000 816,079 811,529 0.0 Allied Properties REIT 3.12% Feb 21/30 CAD 800,000 826,731 808,976 0.0 OMERS Realty Corp. 1.30% Sep 22/23 CAD 800,000 801,903 806,088 0.0 SmartCentres REIT 2.31% Dec 18/28 CAD 830,000 828,197 805,739 0.0 SmartCentres REIT 3.53% Dec 20/29 CAD 770,000 775,396 804,912 0.0 Central 1 Credit Union 2.58% Dec 06/23 CAD 775,000 764,368 801,892 0.0 Sun Life Financial, Inc. 5.40% May 29/42 CAD 628,000 758,111 800,091 0.0 Industrial Alliance Insurance & Financial Services, Inc. 3.30% Sep 15/28 CAD 759,000 789,445 793,185 0.0 AIMCo Realty Investors LP 2.27% Jun 26/24 CAD 764,000 786,808 786,683 0.0 IGM Financial, Inc. 3.44% Jan 26/27 CAD 729,000 753,473 784,317 0.0 Granite REIT Holdings LP 3.87% Nov 30/23 CAD 739,000 761,846 783,650 0.0 Canadian Western Bank 1.57% Sep 14/23 CAD 765,000 769,575 772,015 0.0 Manulife Bank of Canada 2.84% Jan 12/23 CAD 745,000 757,875 768,572 0.0 AIMCo Realty Investors LP 3.04% Jun 01/28 CAD 716,000 749,706 761,581 0.0 Barclays plc 2.17% Jun 23/27 CAD 755,000 754,809 754,268 0.0 BCI QuadReal Realty 1.06% Mar 12/24 CAD 750,000 750,015 749,768 0.0 SEC LP and Arci Ltd. 5.19% Aug 29/33 CAD 689,408 730,796 742,355 0.0 Canadian Western Bank 2.92% Dec 15/22 CAD 717,000 706,864 738,539 0.0 Choice Properties REIT 2.85% May 21/27 CAD 705,000 714,417 730,253 0.0 Laurentian Bank of Canada 1.15% Jun 03/24 CAD 730,000 729,325 725,102 0.0 Great-West Lifeco, Inc. 2.98% Jul 08/50 CAD 772,000 794,568 724,043 0.0 Air Lease Corp. 2.63% Dec 05/24 CAD 704,000 687,249 721,903 0.0 First Capital REIT 3.60% May 06/26 CAD 682,000 699,094 716,523 0.0 OMERS Realty Corp. 3.33% Nov 12/24 CAD 668,000 706,667 713,858 0.0 H&R REIT 3.37% Jan 30/24 CAD 676,000 678,071 701,262 0.0 Bow Centre Street LP 3.80% Jun 13/23 CAD 663,000 654,653 673,363 0.0 BCI QuadReal Realty 1.07% Feb 04/26 CAD 680,000 679,101 665,271 0.0 H&R REIT 4.07% Jun 16/25 CAD 625,000 633,246 665,250 0.0 CI Financial Corp. 3.22% Jul 22/24 CAD 635,000 639,196 663,073 0.0 BCI QuadReal Realty 1.75% Jul 24/30 CAD 682,000 678,046 655,116 0.0 First Capital REIT 3.75% Jul 12/27 CAD 618,000 640,226 652,299 0.0 First Capital REIT 3.90% Oct 30/23 CAD 620,000 640,454 652,197 0.0 Ivanhoe Cambridge II, Inc. 2.30% Dec 12/24 CAD 628,000 642,791 648,567 0.0 TMX Group Ltd. 3.00% Dec 11/24 CAD 605,000 622,080 637,628 0.0 Original Wempi, Inc. 4.31% Feb 13/24 CAD 617,000 637,268 634,992 0.0 Choice Properties REIT 2.98% Mar 04/30 CAD 615,000 626,330 626,181 0.0 iA Financial Corp. Inc. 3.07% Sep 24/31 CAD 589,000 589,061 620,818 0.0 RioCan REIT 2.36% Mar 10/27 CAD 615,000 613,973 613,942 0.0 Equitable Bank 1.77% Sep 21/23 CAD 605,000 610,179 610,155 0.0 Canadian Western Bank 2.60% Sep 06/24 CAD 587,000 595,996 607,433 0.0 Intact Financial Corp. 1.21% May 21/24 CAD 600,000 600,749 599,334 0.0 Dream Industrial REIT 2.06% Jun 17/27 CAD 600,000 600,000 597,564 0.0 Allied Properties REIT 3.11% Apr 08/27 CAD 569,000 572,630 592,130 0.0 HCN Canadian Holdings-1 LP 2.95% Jan 15/27 CAD 570,000 573,417 590,224 0.0 First Capital REIT 4.79% Aug 30/24 CAD 539,000 581,569 586,378 0.0 SmartCentres REIT 1.74% Dec 16/25 CAD 570,000 572,143 562,465 0.0 Allied Properties REIT 3.13% May 15/28 CAD 540,000 542,966 558,414 0.0 Intact Financial Corp. 1.93% Dec 16/30 CAD 580,000 576,455 556,568 0.0 Intact Financial Corp. 2.18% May 18/28 CAD 550,000 550,205 554,208 0.0 Intact Financial Corp. 2.95% Dec 16/50 CAD 585,000 573,297 541,453 0.0 SmartCentres REIT 3.19% Jun 11/27 CAD 515,000 515,000 536,707 0.0

5 Vanguard Canadian Aggregate Bond Index ETF

Description Currency Par Value Cost ($) Fair Value ($) % of Net Assets Intact Financial Corp. 3.69% Mar 24/25 CAD 495,000 537,286 533,694 0.0 Co-operators Financial Services Ltd. 3.33% May 13/30 CAD 530,000 531,798 533,302 0.0 Sagen MI Canada, Inc. 2.96% Mar 01/27 CAD 520,000 520,389 531,383 0.0 Sagen MI Canada, Inc. 3.26% Mar 05/31 CAD 515,000 515,000 518,533 0.0 AIMCo Realty Investors LP 3.37% Jun 01/27 CAD 478,000 510,107 516,364 0.0 Allied Properties REIT 3.39% Aug 15/29 CAD 477,000 477,750 496,018 0.0 Athene Global Funding 1.25% Apr 09/24 CAD 485,000 484,772 482,784 0.0 Fairfax Financial Holdings Ltd. 4.95% Mar 03/25 CAD 404,400 427,291 447,938 0.0 H&R REIT 2.63% Feb 19/27 CAD 430,000 430,000 426,238 0.0 Athene Global Funding 2.47% Jun 09/28 CAD 420,000 420,000 420,508 0.0 CIBC Capital Trust 10.25% Jun 30/2108 CAD 383,000 510,463 406,229 0.0 SmartCentres REIT 3.65% Dec 11/30 CAD 378,000 381,012 394,984 0.0 Canadian Western Bank 2.61% Jan 30/25 CAD 374,000 376,326 387,161 0.0 Laurentian Bank of Canada 3.00% Sep 12/22 CAD 369,000 367,224 378,771 0.0 Choice Properties LP 3.60% Sep 20/22 CAD 339,000 344,840 347,973 0.0 BCI QuadReal Realty 1.68% Mar 03/25 CAD 330,000 333,743 334,115 0.0 RioCan REIT 3.21% Sep 29/23 CAD 300,000 306,162 311,652 0.0 First Capital REIT 4.32% Jul 31/25 CAD 263,000 274,421 284,440 0.0 RioCan REIT 2.83% Oct 03/22 CAD 274,000 277,457 280,217 0.0 Canadian Imperial Bank of Commerce 2.30% Jul 11/22 CAD 155,000 156,717 157,956 0.0 354,781,136 360,615,338 10.7 Government Government of Canada 0.25% May 01/23 CAD 102,495,000 102,214,618 102,121,534 3.1 Government of Canada 2.00% Dec 01/51 CAD 65,426,000 73,347,801 67,804,553 2.0 Government of Canada 0.25% Nov 01/22 CAD 52,388,000 52,389,998 52,318,047 1.6 Government of Canada 1.25% Jun 01/30 CAD 51,671,000 54,092,259 51,288,130 1.5 Government of Canada 0.50% Dec 01/30 CAD 45,284,000 43,097,501 41,744,303 1.2 Government of Canada 1.75% Mar 01/23 CAD 40,082,000 40,277,865 40,975,703 1.2 Government of Canada 1.25% Mar 01/25 CAD 35,783,000 37,112,477 36,392,933 1.1 Government of Canada 1.50% Jun 01/31 CAD 31,011,000 31,028,440 31,181,458 0.9 Government of Canada 0.25% Mar 01/26 CAD 31,408,000 30,531,234 30,367,348 0.9 Government of Canada 1.50% Sep 01/24 CAD 23,589,000 23,887,267 24,180,412 0.7 Government of Canada 2.25% Jun 01/29 CAD 20,995,000 22,676,231 22,600,576 0.7 Government of Canada 0.25% Aug 01/23 CAD 22,672,000 22,566,353 22,552,846 0.7 Government of Canada 0.50% Sep 01/25 CAD 22,789,000 22,886,478 22,431,262 0.7 Government of Canada 5.75% Jun 01/29 CAD 15,285,000 21,500,860 20,450,894 0.6 Government of Canada 1.50% Jun 01/26 CAD 19,436,900 19,594,016 19,917,390 0.6 Government of Canada 5.75% Jun 01/33 CAD 13,608,000 20,615,820 19,823,081 0.6 Government of Canada 1.00% Sep 01/22 CAD 18,145,000 17,978,772 18,290,497 0.5 Government of Canada 2.50% Jun 01/24 CAD 16,451,000 17,367,513 17,330,652 0.5 Government of Canada 2.75% Dec 01/48 CAD 14,026,000 17,769,470 16,828,481 0.5 Government of Canada 0.25% Aug 01/22 CAD 14,845,000 14,836,482 14,840,094 0.4 Government of Canada 4.00% Jun 01/41 CAD 10,223,000 14,353,657 14,152,035 0.4 Government of Canada 3.50% Dec 01/45 CAD 10,175,000 13,850,980 13,597,291 0.4 Government of Canada 1.50% Jun 01/23 CAD 13,016,000 13,071,961 13,276,601 0.4 Government of Canada 2.25% Jun 01/25 CAD 11,721,000 12,590,773 12,377,616 0.4 Government of Canada 5.00% Jun 01/37 CAD 8,339,000 12,480,022 12,289,016 0.4 Government of Canada 2.75% Dec 01/64 CAD 9,340,000 12,091,013 11,693,704 0.4 Government of Canada 2.00% Sep 01/23 CAD 11,269,000 11,268,655 11,630,013 0.4 Government of Canada 1.00% Sep 01/26 CAD 8,199,000 8,174,157 8,175,059 0.2 Government of Canada 0.25% Apr 01/24 CAD 7,071,000 7,014,899 6,994,174 0.2 Government of Canada 8.00% Jun 01/27 CAD 3,931,000 6,500,649 5,478,061 0.2 Government of Canada 1.00% Jun 01/27 CAD 4,926,000 4,989,758 4,901,126 0.1 Government of Canada 0.25% Feb 01/23 CAD 2,997,000 2,996,974 2,990,462 0.1 Government of Canada 2.00% Jun 01/28 CAD 2,732,000 2,872,523 2,884,659 0.1 Government of Canada 9.00% Jun 01/25 CAD 1,841,000 2,993,080 2,420,190 0.1 Government of Canada 2.25% Mar 01/24 CAD 1,701,000 1,797,940 1,775,089 0.1 Government of Canada 8.00% Jun 01/23 CAD 735,000 1,038,245 840,178 0.0 Republic of Austria 5.38% Dec 01/34 CAD 478,000 587,875 635,487 0.0 814,444,616 799,550,955 23.9 Government-related Agencies Canada Housing Trust No. 1 2.90% Jun 15/24 CAD 27,617,500 29,178,733 29,331,547 0.9 Canada Housing Trust No. 1 2.40% Dec 15/22 CAD 28,198,000 28,879,137 29,019,455 0.9 Canada Housing Trust No. 1 1.95% Dec 15/25 CAD 23,145,000 24,426,348 23,966,833 0.7 Canada Housing Trust No. 1 0.95% Jun 15/25 CAD 20,345,000 20,493,617 20,290,973 0.6 Canada Housing Trust No. 1 2.35% Jun 15/23 CAD 18,177,390 18,477,395 18,825,716 0.6 Canada Housing Trust No. 1 1.80% Dec 15/24 CAD 17,863,000 18,039,373 18,413,610 0.6 Canada Housing Trust No. 1 2.35% Sep 15/23 CAD 17,648,000 18,568,721 18,334,450 0.6 Canada Housing Trust No. 1 1.75% Jun 15/30 CAD 17,944,000 18,960,593 18,002,336 0.5 Canada Housing Trust No. 1 2.55% Dec 15/23 CAD 16,712,000 17,091,253 17,493,676 0.5 Canada Housing Trust No. 1 1.25% Jun 15/26 CAD 16,283,000 16,288,320 16,298,685 0.5 Canada Housing Trust No. 1 1.90% Sep 15/26 CAD 12,662,000 12,906,594 13,059,824 0.4

6 Vanguard Canadian Aggregate Bond Index ETF

Description Currency Par Value Cost ($) Fair Value ($) % of Net Assets Canada Housing Trust No. 1 2.10% Sep 15/29 CAD 10,905,000 11,398,245 11,298,981 0.3 Canada Housing Trust No. 1 2.55% Mar 15/25 CAD 9,813,000 10,323,502 10,381,805 0.3 Canada Housing Trust No. 1 2.65% Dec 15/28 CAD 9,629,000 10,204,621 10,373,596 0.3 Canada Housing Trust No. 1 2.35% Jun 15/27 CAD 9,158,000 9,505,441 9,669,376 0.3 Canada Housing Trust No. 1 1.10% Mar 15/31 CAD 8,250,000 8,196,587 7,757,050 0.2 Canada Housing Trust No. 1 2.25% Dec 15/25 CAD 7,184,000 7,471,927 7,532,501 0.2 Canada Housing Trust No. 1 3.15% Sep 15/23 CAD 6,652,000 7,056,413 7,026,712 0.2 Canada Housing Trust No. 1 1.40% Mar 15/31 CAD 7,159,000 6,938,232 6,921,379 0.2 Canada Housing Trust No. 1 1.90% Mar 15/31 CAD 5,090,000 5,112,766 5,147,805 0.2 Canada Housing Trust No. 1 2.65% Mar 15/28 CAD 4,682,000 4,801,279 5,036,966 0.2 Canada Housing Trust No. 1 2.35% Mar 15/28 CAD 3,881,000 4,090,337 4,101,665 0.1 Muskrat Falls / Labrador Transmission Assets Funding Trust 3.86% Dec 01/48 CAD 2,373,000 2,979,907 3,007,655 0.1 PSP Capital, Inc. 3.29% Apr 04/24 CAD 2,689,000 2,860,061 2,872,141 0.1 CPPIB Capital, Inc. 3.00% Jun 15/28 CAD 2,443,000 2,628,639 2,676,546 0.1 PSP Capital, Inc. 0.90% Jun 15/26 CAD 2,583,000 2,581,778 2,535,214 0.1 Maritime Link Financing Trust 3.50% Dec 01/52 CAD 2,196,277 2,443,381 2,520,181 0.1 KfW 0.75% Feb 19/26 CAD 2,475,000 2,408,866 2,431,725 0.1 PSP Capital, Inc. 2.05% Jan 15/30 CAD 2,354,000 2,373,973 2,401,433 0.1 PSP Capital, Inc. 2.09% Nov 22/23 CAD 2,301,000 2,341,305 2,378,203 0.1 PSP Capital, Inc. 3.00% Nov 05/25 CAD 2,187,000 2,336,652 2,355,587 0.1 Labrador-Island Link Funding Trust 3.85% Dec 01/53 CAD 1,607,000 1,986,792 2,081,614 0.1 PSP Capital, Inc. 1.50% Mar 15/28 CAD 1,650,000 1,637,130 1,644,074 0.1 Labrador-Island Link Funding Trust 3.86% Dec 01/45 CAD 1,265,000 1,644,069 1,581,267 0.1 Muskrat Falls / Labrador Transmission Assets Funding Trust 3.63% Jun 01/29 CAD 1,336,000 1,530,230 1,525,385 0.0 Labrador-Island Link Funding Trust 3.76% Jun 01/33 CAD 1,289,000 1,504,769 1,516,277 0.0 KfW 5.05% Feb 04/25 CAD 1,112,000 1,353,976 1,270,571 0.0 OPB Finance Trust 2.98% Jan 25/27 CAD 1,132,000 1,189,379 1,211,172 0.0 Canada Post Corp. 4.36% Jul 16/40 CAD 881,000 1,134,046 1,149,430 0.0 CPPIB Capital, Inc. 0.63% Sep 01/22 CAD 958,000 959,234 960,884 0.0 Export Development Canada 1.65% Jul 31/24 CAD 933,000 946,750 956,972 0.0 Muskrat Falls / Labrador Transmission Assets Funding Trust 3.83% Jun 01/37 CAD 758,455 900,209 920,591 0.0 Canada Post Corp. 4.08% Jul 16/25 CAD 752,000 854,382 840,523 0.0 CPPIB Capital, Inc. 0.75% Jun 15/24 CAD 828,000 829,941 825,110 0.0 Export Development Canada 1.80% Sep 01/22 CAD 788,000 803,957 801,097 0.0 OPB Finance Trust 3.89% Jul 04/42 CAD 658,000 739,470 771,031 0.0 KfW 4.70% Jun 02/37 CAD 557,000 691,273 719,728 0.0 Cordelio Amalco GP I 4.09% Jun 30/34 CAD 646,185 662,476 701,751 0.0 Cordelio Amalco GP I 4.09% Sep 30/34 CAD 423,902 449,126 461,056 0.0 KfW 4.65% Feb 28/23 CAD 75,000 84,971 79,917 0.0 351,266,176 351,482,076 10.5 Government-related Supranational International Bank for Reconstruction & Development 1.80% Jul 26/24 CAD 2,996,000 3,009,072 3,082,524 0.1 International Bank for Reconstruction & Development 0.63% Jan 14/26 CAD 2,745,000 2,736,562 2,679,395 0.1 International Bank for Reconstruction & Development 0.75% Jul 02/25 CAD 2,640,000 2,637,935 2,607,449 0.1 International Bank for Reconstruction & Development 1.90% Jan 16/25 CAD 2,413,000 2,461,469 2,491,036 0.1 Asian Development Bank 0.75% Feb 10/26 CAD 2,195,000 2,135,808 2,155,775 0.1 Inter-American Development Bank 4.40% Jan 26/26 CAD 1,736,000 2,013,260 1,984,231 0.1 International Bank for Reconstruction & Development 2.50% Aug 03/23 CAD 1,753,000 1,790,581 1,822,945 0.1 Inter-American Development Bank 0.88% Aug 27/27 CAD 1,815,000 1,801,716 1,751,402 0.1 Inter-American Development Bank 0.75% Oct 15/25 CAD 1,694,000 1,697,014 1,667,082 0.1 International Bank for Reconstruction & Development 2.25% Jan 17/23 CAD 1,604,000 1,627,976 1,648,238 0.0 Asian Development Bank 1.50% May 04/28 CAD 1,325,000 1,315,195 1,323,516 0.0 Inter-American Development Bank 1.00% Jun 29/26 CAD 1,290,000 1,275,423 1,279,719 0.0 International Finance Corp. 1.38% Sep 13/24 CAD 1,255,000 1,233,992 1,275,218 0.0 International Bank for Reconstruction & Development 0.88% Sep 28/27 CAD 1,276,000 1,278,412 1,231,314 0.0 Inter-American Development Bank 1.70% Oct 10/24 CAD 1,155,000 1,161,361 1,184,118 0.0 Asian Development Bank 4.65% Feb 16/27 CAD 899,000 1,079,573 1,056,640 0.0 International Finance Corp. 0.63% Sep 16/25 CAD 1,000,000 998,500 981,580 0.0 International Finance Corp. 2.38% Jul 19/23 CAD 654,000 655,369 678,146 0.0 EUROFIMA 4.55% Mar 30/27 CAD 459,000 527,755 527,859 0.0 31,436,973 31,428,187 0.9 Industrial Apple, Inc. 2.51% Aug 19/24 CAD 4,363,000 4,422,684 4,545,504 0.2 Shaw Communications, Inc. 6.75% Nov 09/39 CAD 2,306,000 3,065,835 3,099,610 0.1

7 Vanguard Canadian Aggregate Bond Index ETF

Description Currency Par Value Cost ($) Fair Value ($) % of Net Assets TransCanada PipeLines Ltd. 3.80% Apr 05/27 CAD 2,676,000 2,865,032 2,908,170 0.1 Rogers Communications, Inc. 3.65% Mar 31/27 CAD 2,546,000 2,543,638 2,732,749 0.1 Bell Canada, Inc. 3.35% Mar 12/25 CAD 2,546,000 2,621,474 2,704,208 0.1 Suncor Energy, Inc. 5.00% Apr 09/30 CAD 2,230,000 2,378,849 2,620,785 0.1 Thomson Reuters Corp. 2.24% May 14/25 CAD 2,447,000 2,478,446 2,510,059 0.1 Walt Disney Co. 3.06% Mar 30/27 CAD 2,254,000 2,300,948 2,385,250 0.1 TELUS Corp. 3.35% Apr 01/24 CAD 2,203,000 2,305,376 2,315,926 0.1 Bell Canada, Inc. 2.50% May 14/30 CAD 2,301,000 2,316,369 2,277,852 0.1 TWDC Enterprises 18 Corp. 2.76% Oct 07/24 CAD 2,171,000 2,200,849 2,273,254 0.1 Cenovus Energy, Inc. 3.50% Feb 07/28 CAD 2,110,000 2,113,270 2,210,225 0.1 AT&T, Inc. 4.00% Nov 25/25 CAD 1,936,000 1,996,793 2,121,024 0.1 Enbridge, Inc. 3.20% Jun 08/27 CAD 2,007,000 2,067,833 2,117,505 0.1 55 Ontario School Board Trust 5.90% Jun 02/33 CAD 1,506,000 2,005,486 2,036,624 0.1 Bell Canada, Inc. 3.50% Sep 30/50 CAD 2,140,000 2,114,998 2,005,629 0.1 TransCanada PipeLines Ltd. 4.18% Jul 03/48 CAD 1,927,000 1,992,656 1,975,348 0.1 North West Redwater Partnership / NWR Financing Co. Ltd. 2.80% Jun 01/31 CAD 1,935,000 1,937,572 1,943,437 0.1 TransCanada PipeLines Ltd. 4.55% Nov 15/41 CAD 1,798,000 1,954,381 1,937,075 0.1 Toyota Credit Canada, Inc. 2.31% Oct 23/24 CAD 1,848,000 1,878,689 1,909,021 0.1 Enbridge, Inc. 2.99% Oct 03/29 CAD 1,833,000 1,855,562 1,889,896 0.1 Bell Canada, Inc. 3.00% Mar 17/31 CAD 1,835,000 1,840,100 1,873,663 0.1 TELUS Corp. 3.30% May 02/29 CAD 1,749,000 1,829,176 1,857,333 0.1 Bell Canada, Inc. 3.35% Mar 22/23 CAD 1,766,000 1,818,185 1,826,697 0.1 Greater Toronto Airports Authority 2.75% Oct 17/39 CAD 1,859,000 1,868,450 1,795,218 0.1 TransCanada PipeLines Ltd. 4.34% Oct 15/49 CAD 1,703,000 1,797,650 1,792,033 0.1 McDonald's Corp. 3.13% Mar 04/25 CAD 1,689,000 1,731,441 1,791,320 0.1 Bell Canada, Inc. 3.60% Sep 29/27 CAD 1,648,000 1,743,191 1,780,796 0.1 Verizon Communications, Inc. 2.38% Mar 22/28 CAD 1,755,000 1,755,969 1,776,692 0.1 Rogers Communications, Inc. 6.11% Aug 25/40 CAD 1,385,000 1,854,552 1,768,146 0.1 Pembina Pipeline Corp. 4.75% Mar 26/48 CAD 1,631,000 1,775,806 1,749,133 0.1 Bell Canada, Inc. 2.70% Feb 27/24 CAD 1,678,000 1,662,576 1,737,368 0.1 TransCanada PipeLines Ltd. 4.33% Sep 16/47 CAD 1,646,000 1,698,603 1,725,699 0.1 Alimentation Couche-Tard, Inc. 3.60% Jun 02/25 CAD 1,610,000 1,671,141 1,724,825 0.1 TELUS Corp. 4.85% Apr 05/44 CAD 1,519,000 1,678,407 1,721,468 0.1 TransCanada PipeLines Ltd. 3.30% Jul 17/25 CAD 1,606,000 1,693,018 1,706,070 0.1 Bell Canada, Inc. 3.80% Aug 21/28 CAD 1,537,000 1,589,434 1,685,536 0.1 Verizon Communications, Inc. 2.50% May 16/30 CAD 1,673,000 1,705,905 1,670,792 0.1 Rogers Communications, Inc. 3.25% May 01/29 CAD 1,597,000 1,622,423 1,670,031 0.1 Pembina Pipeline Corp. 3.62% Apr 03/29 CAD 1,555,000 1,606,296 1,661,735 0.1 Northern Courier Pipeline LP 3.37% Jun 30/42 CAD 1,613,266 1,663,203 1,658,357 0.1 407 International, Inc. 5.75% Feb 14/36 CAD 1,267,000 1,650,657 1,600,943 0.1 TELUS Corp. 2.75% Jul 08/26 CAD 1,505,000 1,542,650 1,566,043 0.1 Honda Canada Finance, Inc. 3.44% May 23/25 CAD 1,446,000 1,519,674 1,555,563 0.1 Pembina Pipeline Corp. 4.02% Mar 27/28 CAD 1,395,000 1,494,132 1,527,218 0.1 Enbridge, Inc. 4.57% Mar 11/44 CAD 1,418,000 1,522,820 1,522,634 0.1 TELUS Corp. 2.85% Nov 13/31 CAD 1,515,000 1,515,559 1,519,590 0.1 AT&T, Inc. 5.10% Nov 25/48 CAD 1,307,000 1,443,723 1,507,311 0.1 Enbridge, Inc. 3.19% Dec 05/22 CAD 1,441,000 1,483,593 1,487,328 0.1 Bell Canada, Inc. 3.55% Mar 02/26 CAD 1,372,000 1,400,161 1,473,789 0.1 North West Redwater Partnership / NWR Financing Co. Ltd. 3.65% Jun 01/35 CAD 1,405,000 1,457,824 1,471,499 0.1 Honda Canada Finance, Inc. 2.54% Mar 01/23 CAD 1,429,000 1,442,275 1,468,926 0.1 BHP Billiton Finance Ltd. 3.23% May 15/23 CAD 1,409,000 1,435,914 1,465,755 0.1 TransCanada PipeLines Ltd. 3.00% Sep 18/29 CAD 1,414,000 1,465,386 1,461,666 0.1 TELUS Corp. 3.95% Feb 16/50 CAD 1,459,000 1,501,137 1,457,468 0.1 Loblaw Cos. Ltd. 4.86% Sep 12/23 CAD 1,352,000 1,473,319 1,450,723 0.1 AT&T, Inc. 4.85% May 25/47 CAD 1,305,000 1,373,369 1,447,128 0.1 407 International, Inc. 2.84% Mar 07/50 CAD 1,543,000 1,519,874 1,442,072 0.1 North West Redwater Partnership / NWR Financing Co. Ltd. 4.05% Jul 22/44 CAD 1,359,000 1,439,543 1,440,717 0.1 United Parcel Service, Inc. 2.13% May 21/24 CAD 1,398,000 1,389,615 1,436,165 0.1 Cenovus Energy, Inc. 3.60% Mar 10/27 CAD 1,340,000 1,355,084 1,416,219 0.1 Cenovus Energy, Inc. 3.55% Mar 12/25 CAD 1,337,000 1,386,582 1,413,142 0.1 Suncor Energy, Inc. 3.10% May 24/29 CAD 1,332,000 1,364,731 1,392,273 0.1 Pembina Pipeline Corp. 4.54% Apr 03/49 CAD 1,336,000 1,394,311 1,391,698 0.1 407 International, Inc. 2.43% May 04/27 CAD 1,331,000 1,323,144 1,379,355 0.1 Inter Pipeline Ltd. 4.23% Jun 01/27 CAD 1,255,000 1,298,528 1,378,216 0.1 TransCanada PipeLines Ltd. 3.69% Jul 19/23 CAD 1,305,000 1,373,627 1,365,330 0.1 Bell Canada, Inc. 2.90% Aug 12/26 CAD 1,296,000 1,283,525 1,357,029 0.1 PepsiCo, Inc. 2.15% May 06/24 CAD 1,320,000 1,343,857 1,357,000 0.1 TELUS Corp. 3.75% Mar 10/26 CAD 1,245,000 1,306,026 1,349,953 0.1 Rogers Communications, Inc. 6.68% Nov 04/39 CAD 1,002,000 1,399,279 1,349,193 0.1 TELUS Corp. 3.75% Jan 17/25 CAD 1,247,000 1,342,268 1,338,779 0.1 Saputo, Inc. 2.24% Jun 16/27 CAD 1,315,000 1,325,742 1,323,548 0.1 Suncor Energy, Inc. 5.39% Mar 26/37 CAD 1,081,000 1,347,641 1,296,854 0.1

8 Vanguard Canadian Aggregate Bond Index ETF

Description Currency Par Value Cost ($) Fair Value ($) % of Net Assets Anheuser-Busch InBev Finance, Inc. 4.32% May 15/47 CAD 1,208,000 1,233,795 1,292,028 0.1 North West Redwater Partnership / NWR Financing Co. Ltd. 2.80% Jun 01/27 CAD 1,241,000 1,251,310 1,289,473 0.1 Enbridge Pipelines, Inc. 3.45% Sep 29/25 CAD 1,179,000 1,240,972 1,265,951 0.1 Bell Canada, Inc. 2.90% Sep 10/29 CAD 1,222,000 1,224,029 1,258,697 0.1 Bell Canada, Inc. 1.65% Aug 16/27 CAD 1,290,000 1,283,348 1,254,241 0.1 AltaGas Ltd. 2.16% Jun 10/25 CAD 1,212,000 1,225,690 1,232,507 0.1 TransCanada PipeLines Ltd. 8.05% Feb 17/39 CAD 817,000 1,253,682 1,231,096 0.1 AT&T, Inc. 2.85% May 25/24 CAD 1,167,000 1,184,492 1,216,434 0.1 Suncor Energy, Inc. 3.00% Sep 14/26 CAD 1,144,000 1,161,371 1,205,090 0.1 Bell Canada, Inc. 2.75% Jan 29/25 CAD 1,151,000 1,205,549 1,198,444 0.1 Rogers Communications, Inc. 4.00% Mar 13/24 CAD 1,096,000 1,172,491 1,165,903 0.1 Transurban Finance Co. Pty Ltd. 4.56% Nov 14/28 CAD 1,048,000 1,093,464 1,164,632 0.1 407 International, Inc. 3.60% May 21/47 CAD 1,088,000 1,174,947 1,163,355 0.1 Enbridge Pipelines, Inc. 4.33% Feb 22/49 CAD 1,085,000 1,156,859 1,159,887 0.1 ARC Resources Ltd. 3.47% Mar 10/31 CAD 1,125,000 1,125,000 1,149,491 0.1 AltaGas Ltd. 2.61% Dec 16/22 CAD 1,118,000 1,132,850 1,144,295 0.1 Enbridge, Inc. 4.24% Aug 27/42 CAD 1,110,000 1,133,536 1,138,349 0.1 Bell Canada, Inc. 4.75% Sep 29/44 CAD 996,000 1,158,226 1,129,424 0.1 Greater Toronto Airports Authority 3.26% Jun 01/37 CAD 1,073,000 1,148,161 1,118,527 0.1 TELUS Corp. 3.15% Feb 19/30 CAD 1,065,000 1,073,189 1,112,776 0.1 Greater Toronto Airports Authority 7.05% Jun 12/30 CAD 810,000 1,144,695 1,111,344 0.1 TransCanada PipeLines Ltd. 4.35% Jun 06/46 CAD 1,053,000 1,137,160 1,106,155 0.1 Canadian Natural Resources Ltd. 3.42% Dec 01/26 CAD 1,037,000 1,098,905 1,104,415 0.1 Nouvelle Autoroute 30 Financement, Inc. 4.11% Mar 31/42 CAD 1,003,085 1,055,781 1,103,453 0.1 Bell Canada, Inc. 4.05% Mar 17/51 CAD 1,050,000 1,048,230 1,085,343 0.0 Pembina Pipeline Corp. 2.56% Jun 01/23 CAD 1,057,000 1,064,702 1,085,053 0.0 Greater Toronto Airports Authority 6.98% Oct 15/32 CAD 772,000 1,117,950 1,084,977 0.0 Greater Toronto Airports Authority 1.54% May 03/28 CAD 1,105,000 1,098,635 1,079,408 0.0 North West Redwater Partnership / NWR Financing Co. Ltd. 3.20% Apr 24/26 CAD 1,013,000 1,045,984 1,072,342 0.0 Heathrow Funding Ltd. 3.66% Jan 13/33 CAD 1,005,000 1,013,780 1,065,139 0.0 Bell Canada, Inc. 4.35% Dec 18/45 CAD 982,000 1,026,173 1,057,663 0.0 Shaw Communications, Inc. 4.35% Jan 31/24 CAD 988,000 1,064,821 1,056,547 0.0 Crosslinx Transit Solutions GP 4.65% Sep 30/46 CAD 963,000 1,071,885 1,055,487 0.0 North West Redwater Partnership / NWR Financing Co. Ltd. 4.75% Jun 01/37 CAD 900,000 1,060,106 1,054,269 0.0 Teranet Holdings LP 3.54% Jun 11/25 CAD 987,000 1,007,197 1,048,549 0.0 Pembina Pipeline Corp. 2.99% Jan 22/24 CAD 1,007,000 1,018,598 1,046,192 0.0 General Motors Financial of Canada Ltd. 1.75% Apr 15/26 CAD 1,054,000 1,051,612 1,043,207 0.0 North West Redwater Partnership / NWR Financing Co. Ltd. 3.75% Jun 01/51 CAD 1,035,000 1,035,565 1,043,135 0.0 TELUS Corp. 3.63% Mar 01/28 CAD 957,000 992,622 1,037,072 0.0 Sobeys, Inc. 4.70% Aug 08/23 CAD 970,000 1,059,966 1,033,302 0.0 Pembina Pipeline Corp. 4.74% Jan 21/47 CAD 963,000 1,039,015 1,030,930 0.0 407 International, Inc. 5.96% Dec 03/35 CAD 761,000 1,051,417 1,029,260 0.0 TELUS Corp. 4.10% Apr 05/51 CAD 995,000 1,001,383 1,018,950 0.0 Heathrow Funding Ltd. 2.69% Oct 13/29 CAD 1,000,000 1,000,000 1,016,890 0.0 Gibson Energy, Inc. 3.60% Sep 17/29 CAD 957,000 977,263 1,015,291 0.0 Aeroports de Montreal 3.03% Apr 21/50 CAD 1,032,000 1,051,498 1,012,062 0.0 Greater Toronto Airports Authority 5.30% Feb 25/41 CAD 760,000 1,021,682 1,008,459 0.0 Shaw Communications, Inc. 4.40% Nov 02/28 CAD 898,000 983,219 1,007,161 0.0 TransCanada PipeLines Ltd. 3.39% Mar 15/28 CAD 944,000 980,973 1,005,351 0.0 North West Redwater Partnership / NWR Financing Co. Ltd. 3.20% Jul 22/24 CAD 954,000 980,134 1,003,303 0.0 North West Redwater Partnership / NWR Financing Co. Ltd. 4.35% Jan 10/39 CAD 901,000 983,914 1,000,236 0.0 TELUS Corp. 4.40% Jan 29/46 CAD 932,000 951,927 996,438 0.0 Bell Canada, Inc. 4.70% Sep 11/23 CAD 930,000 1,026,637 993,752 0.0 WSP Global, Inc. 2.41% Apr 19/28 CAD 985,000 985,870 992,250 0.0 Mondelez International, Inc. 3.25% Mar 07/25 CAD 935,000 936,028 992,091 0.0 North West Redwater Partnership / NWR Financing Co. Ltd. 1.20% Dec 01/23 CAD 990,000 990,649 990,762 0.0 Canadian Natural Resources Ltd. 3.55% Jun 03/24 CAD 936,000 963,339 989,698 0.0 bcIMC Realty Corp. 2.84% Jun 03/25 CAD 939,000 964,369 988,410 0.0 Enbridge, Inc. 2.44% Jun 02/25 CAD 955,000 981,537 984,691 0.0 Brookfield Property Finance ULC 4.30% Mar 01/24 CAD 935,000 960,427 978,365 0.0 VW Credit Canada, Inc. 3.25% Mar 29/23 CAD 935,000 953,312 971,362 0.0 Sysco Canada, Inc. 3.65% Apr 25/25 CAD 907,000 951,482 969,492 0.0 Cameco Corp. 4.19% Jun 24/24 CAD 907,000 953,839 968,939 0.0 VW Credit Canada, Inc. 3.70% Nov 14/22 CAD 932,000 951,477 968,115 0.0 Honda Canada Finance, Inc. 1.65% Feb 25/28 CAD 985,000 982,157 965,990 0.0 Molson Coors International LP 2.84% Jul 15/23 CAD 936,000 945,111 964,192 0.0 TELUS Corp. 4.70% Mar 06/48 CAD 860,000 948,706 963,535 0.0 VW Credit Canada, Inc. 1.20% Sep 25/23 CAD 961,000 961,349 962,653 0.0 Pembina Pipeline Corp. 4.24% Jun 15/27 CAD 872,000 954,100 961,999 0.0

9 Vanguard Canadian Aggregate Bond Index ETF

Description Currency Par Value Cost ($) Fair Value ($) % of Net Assets NAV Canada 2.92% Sep 29/51 CAD 970,000 1,009,770 957,448 0.0 AltaGas Ltd. 2.08% May 30/28 CAD 975,000 976,161 953,667 0.0 Bell Canada, Inc. 4.45% Feb 27/47 CAD 862,892 952,300 944,478 0.0 TELUS Corp. 2.35% Jan 27/28 CAD 933,000 939,121 941,938 0.0 Canadian National Railway Co. 3.60% Feb 08/49 CAD 917,000 988,369 937,367 0.0 Toromont Industries Ltd. 3.84% Oct 27/27 CAD 847,000 875,860 922,019 0.0 Metro, Inc. 3.39% Dec 06/27 CAD 854,000 919,179 920,783 0.0 Canadian Pacific Railway Co. 6.45% Nov 17/39 CAD 646,000 899,196 920,453 0.0 TELUS Corp. 4.40% Apr 01/43 CAD 861,000 878,961 919,462 0.0 Pembina Pipeline Corp. 3.71% Aug 11/26 CAD 855,000 877,650 919,057 0.0 Dollarama, Inc. 3.55% Nov 06/23 CAD 871,000 882,646 917,276 0.0 bcIMC Realty Corp. 3.00% Mar 31/27 CAD 857,000 912,355 912,791 0.0 Inter Pipeline Ltd. 2.73% Apr 18/24 CAD 883,000 887,745 912,113 0.0 Waste Management of Canada Corp. 2.60% Sep 23/26 CAD 875,000 906,089 911,015 0.0 North West Redwater Partnership / NWR Financing Co. Ltd. 3.70% Feb 23/43 CAD 903,000 945,268 909,041 0.0 Shaw Communications, Inc. 3.80% Nov 02/23 CAD 858,000 883,537 906,494 0.0 Teranet Holdings LP 5.75% Dec 17/40 CAD 761,000 825,330 904,525 0.0 North West Redwater Partnership / NWR Financing Co. Ltd. 4.25% Jun 01/29 CAD 802,000 877,926 903,790 0.0 Nissan Canada, Inc. 1.63% Mar 18/24 CAD 905,000 905,048 901,760 0.0 Verizon Communications, Inc. 4.05% Mar 22/51 CAD 860,000 870,147 901,117 0.0 Honda Canada Finance, Inc. 2.27% Jul 15/22 CAD 884,000 883,674 899,355 0.0 BP Capital Markets plc 3.47% May 15/25 CAD 835,000 858,777 897,182 0.0 Daimler Canada Finance, Inc. 1.65% Sep 22/25 CAD 895,000 895,371 895,922 0.0 Keyera Corp. 3.96% May 29/30 CAD 835,000 855,539 894,293 0.0 Enbridge, Inc. 3.95% Nov 19/24 CAD 831,000 861,648 894,106 0.0 Pembina Pipeline Corp. 3.54% Feb 03/25 CAD 841,000 857,977 892,663 0.0 General Motors Financial of Canada Ltd. 3.25% Nov 07/23 CAD 847,000 849,228 885,742 0.0 Enbridge Pipelines, Inc. 3.52% Feb 22/29 CAD 818,000 851,692 885,362 0.0 Shaw Communications, Inc. 3.30% Dec 10/29 CAD 845,000 866,409 882,019 0.0 Loblaw Cos. Ltd. 4.49% Dec 11/28 CAD 765,000 882,715 878,603 0.0 Inter Pipeline Ltd. 4.64% May 30/44 CAD 839,000 877,295 877,787 0.0 Shaw Communications, Inc. 2.90% Dec 09/30 CAD 877,000 895,119 876,912 0.0 Toyota Credit Canada, Inc. 3.04% Jul 12/23 CAD 838,000 867,655 872,978 0.0 SSL Finance, Inc. 4.10% Oct 31/45 CAD 796,375 837,287 871,434 0.0 407 International, Inc. 3.72% May 11/48 CAD 792,000 842,708 866,527 0.0 Canadian Natural Resources Ltd. 1.45% Nov 16/23 CAD 855,000 855,802 860,070 0.0 VW Credit Canada, Inc. 2.85% Sep 26/24 CAD 822,000 827,996 859,113 0.0 TransCanada PipeLines Ltd. 2.97% Jun 09/31 CAD 850,000 849,711 858,951 0.0 Canadian National Railway Co. 3.60% Jul 31/48 CAD 838,000 867,024 858,070 0.0 John Deere Financial, Inc. 2.46% Apr 04/24 CAD 825,000 843,002 854,816 0.0 407 International, Inc. 3.67% Mar 08/49 CAD 784,000 843,464 850,828 0.0 Hospital Infrastructure Partners NOH Partnership 5.44% Jan 31/45 CAD 693,316 821,033 850,788 0.0 Bell Canada, Inc. 6.10% Mar 16/35 CAD 660,000 822,527 847,315 0.0 Metro, Inc. 4.27% Dec 04/47 CAD 766,000 819,368 839,015 0.0 Molson Coors International LP 3.44% Jul 15/26 CAD 785,000 794,737 831,291 0.0 Heathrow Funding Ltd. 3.78% Sep 04/32 CAD 774,000 797,544 826,322 0.0 Greater Toronto Airports Authority 2.73% Apr 03/29 CAD 785,000 818,167 823,598 0.0 Toyota Credit Canada, Inc. 2.11% Feb 26/25 CAD 801,000 807,683 823,212 0.0 Rogers Communications, Inc. 6.56% Mar 22/41 CAD 613,000 797,216 822,566 0.0 John Deere Financial, Inc. 2.41% Jan 14/25 CAD 790,000 815,424 818,985 0.0 Pembina Pipeline Corp. 4.81% Mar 25/44 CAD 757,000 806,940 813,344 0.0 Alimentation Couche-Tard, Inc. 3.06% Jul 26/24 CAD 775,000 790,897 812,262 0.0 VW Credit Canada, Inc. 1.50% Sep 23/25 CAD 815,000 813,528 810,868 0.0 Pembina Pipeline Corp. 3.31% Feb 01/30 CAD 770,000 778,233 801,131 0.0 Pembina Pipeline Corp. 4.75% Apr 30/43 CAD 747,000 754,239 795,368 0.0 Metro, Inc. 5.97% Oct 15/35 CAD 624,000 761,112 795,088 0.0 Shaw Communications, Inc. 4.25% Dec 09/49 CAD 777,000 801,125 794,762 0.0 Canadian Pacific Railway Co. 3.15% Mar 13/29 CAD 742,000 765,388 794,407 0.0 Magna International, Inc. 3.10% Dec 15/22 CAD 765,000 782,679 788,723 0.0 Enbridge Pipelines, Inc. 4.13% Aug 09/46 CAD 762,000 797,130 787,664 0.0 Saputo, Inc. 2.88% Nov 19/24 CAD 752,000 776,652 787,194 0.0 TELUS Corp. 4.75% Jan 17/45 CAD 700,000 769,458 784,651 0.0 Heathrow Funding Ltd. 3.73% Apr 13/35 CAD 750,000 750,000 782,333 0.0 407 International, Inc. 4.45% Nov 15/41 CAD 656,000 780,492 780,115 0.0 Suncor Energy, Inc. 3.95% Mar 04/51 CAD 770,000 759,227 771,817 0.0 Inter Pipeline Ltd. 3.48% Dec 16/26 CAD 725,000 720,863 769,450 0.0 Westcoast Energy, Inc. 3.43% Sep 12/24 CAD 723,000 774,691 766,742 0.0 AltaGas Ltd. 3.84% Jan 15/25 CAD 714,000 728,215 765,708 0.0 Bell Canada, Inc. 6.17% Feb 26/37 CAD 587,000 761,567 765,155 0.0 Loblaw Cos. Ltd. 3.92% Jun 10/24 CAD 708,000 731,670 760,328 0.0 Enbridge Pipelines, Inc. 5.33% Apr 06/40 CAD 637,000 785,098 759,081 0.0 Reliance LP 3.84% Mar 15/25 CAD 707,000 743,873 758,250 0.0 Heathrow Funding Ltd. 3.25% May 21/27 CAD 716,000 720,389 754,027 0.0

10 Vanguard Canadian Aggregate Bond Index ETF

Description Currency Par Value Cost ($) Fair Value ($) % of Net Assets Canadian National Railway Co. 3.05% Feb 08/50 CAD 815,000 828,214 753,965 0.0 Daimler Canada Finance, Inc. 3.30% Aug 16/22 CAD 730,000 739,036 750,732 0.0 Canadian National Railway Co. 3.95% Sep 22/45 CAD 691,000 773,979 749,376 0.0 Metro, Inc. 5.03% Dec 01/44 CAD 621,000 728,371 742,412 0.0 Toyota Credit Canada, Inc. 2.62% Oct 11/22 CAD 724,000 730,194 741,644 0.0 Enbridge Pipelines, Inc. 4.20% May 12/51 CAD 700,000 699,762 734,846 0.0 Aeroports de Montreal 5.17% Sep 17/35 CAD 580,000 752,273 730,614 0.0 Reliance LP 2.68% Dec 01/27 CAD 720,000 721,551 730,433 0.0 Toyota Credit Canada, Inc. 2.64% Mar 27/24 CAD 701,000 712,317 729,201 0.0 TELUS Corp. 3.35% Mar 15/23 CAD 701,000 718,840 724,876 0.0 Penske Truck Leasing Canada, Inc. 2.85% Dec 07/22 CAD 703,000 700,607 721,383 0.0 Toyota Credit Canada, Inc. 2.35% Jul 18/22 CAD 708,000 708,503 720,879 0.0 Original Wempi, Inc. 4.06% Feb 13/24 CAD 702,470 715,960 718,606 0.0 Canadian National Railway Co. 3.20% Jul 31/28 CAD 668,000 697,544 715,000 0.0 Honda Canada Finance, Inc. 1.34% Mar 17/26 CAD 720,000 720,000 710,640 0.0 North West Redwater Partnership / NWR Financing Co. Ltd. 4.15% Jun 01/33 CAD 643,000 694,464 710,393 0.0 Canadian Tire Corp. Ltd. 3.17% Jul 06/23 CAD 681,000 691,594 707,675 0.0 BMW Canada, Inc. 2.41% Nov 27/23 CAD 680,000 697,218 701,617 0.0 Enbridge, Inc. 3.94% Jun 30/23 CAD 669,000 699,297 701,614 0.0 407 International, Inc. 3.83% May 11/46 CAD 635,000 703,655 701,573 0.0 General Motors Financial of Canada Ltd. 5.95% May 14/24 CAD 620,000 633,462 697,215 0.0 Aeroports de Montreal 5.67% Oct 16/37 CAD 519,000 723,867 696,809 0.0 Reliance LP 2.67% Aug 01/28 CAD 685,000 684,473 692,056 0.0 Canadian National Railway Co. 3.60% Aug 01/47 CAD 672,000 680,350 687,590 0.0 Cameco Corp. 2.95% Oct 21/27 CAD 670,000 672,027 685,028 0.0 SGTP Highway Bypass LP 4.11% Jan 31/45 CAD 632,415 685,276 682,938 0.0 Reliance LP 3.75% Mar 15/26 CAD 632,000 638,643 677,447 0.0 Honda Canada Finance, Inc. 2.50% Jun 04/24 CAD 653,000 663,500 676,619 0.0 Keyera Corp. 3.93% Jun 21/28 CAD 621,000 648,734 672,034 0.0 Loblaw Cos. Ltd. 2.28% May 07/30 CAD 675,000 679,749 663,701 0.0 Enbridge Pipelines, Inc. 3.00% Aug 10/26 CAD 629,000 634,510 663,652 0.0 Dollarama, Inc. 1.87% Jul 08/26 CAD 660,000 660,000 660,475 0.0 Metro, Inc. 3.41% Feb 28/50 CAD 695,000 693,065 658,721 0.0 Canadian National Railway Co. 2.80% Sep 22/25 CAD 625,000 643,832 657,169 0.0 Dollarama, Inc. 2.44% Jul 09/29 CAD 650,000 650,000 652,282 0.0 TELUS Corp. 5.15% Nov 26/43 CAD 552,000 622,903 647,998 0.0 Suncor Energy, Inc. 4.34% Sep 13/46 CAD 601,000 644,885 638,857 0.0 Daimler Canada Finance, Inc. 2.97% Mar 13/24 CAD 610,000 618,560 637,438 0.0 NAV Canada 0.94% Feb 09/26 CAD 650,000 648,352 634,387 0.0 407 International, Inc. 3.65% Sep 08/44 CAD 589,000 594,254 632,798 0.0 Enbridge Pipelines, Inc. 4.55% Sep 29/45 CAD 575,000 617,998 631,017 0.0 TransEd Partners GP 3.95% Sep 30/50 CAD 612,564 613,001 630,604 0.0 Heathrow Funding Ltd. 3.40% Mar 08/30 CAD 587,000 610,906 618,833 0.0 Gibson Energy, Inc. 2.45% Jul 14/25 CAD 603,000 604,565 616,923 0.0 Vancouver Airport Fuel Facilities Corp. 2.17% Jun 23/25 CAD 617,000 617,000 613,971 0.0 Canadian Pacific Railway Co. 3.05% Mar 09/50 CAD 650,000 618,020 613,763 0.0 407 International, Inc. 3.98% Sep 11/52 CAD 534,000 585,195 611,697 0.0 ARC Resources Ltd. 2.35% Mar 10/26 CAD 605,000 605,000 610,149 0.0 Loblaw Cos. Ltd. 5.90% Jan 18/36 CAD 480,000 586,890 604,426 0.0 Saputo, Inc. 2.83% Nov 21/23 CAD 583,000 578,465 604,140 0.0 Pembina Pipeline Corp. 3.77% Oct 24/22 CAD 583,000 600,854 603,965 0.0 Inter Pipeline Ltd. 2.61% Sep 13/23 CAD 587,000 586,414 603,231 0.0 Bell Canada, Inc. 2.20% May 29/28 CAD 600,000 599,451 599,466 0.0 Saputo, Inc. 1.42% Jun 19/26 CAD 610,000 610,126 596,214 0.0 John Deere Financial, Inc. 1.34% Sep 08/27 CAD 610,000 608,676 591,798 0.0 407 International, Inc. 4.19% Apr 25/42 CAD 513,000 582,186 590,873 0.0 Canadian Natural Resources Ltd. 4.85% May 30/47 CAD 519,000 555,877 586,698 0.0 Saputo, Inc. 3.60% Aug 14/25 CAD 545,000 569,318 585,646 0.0 Canadian Natural Resources Ltd. 2.50% Jan 17/28 CAD 570,000 570,519 576,846 0.0 AltaGas Ltd. 4.50% Aug 15/44 CAD 538,000 533,120 575,870 0.0 Toyota Credit Canada, Inc. 2.70% Jan 25/23 CAD 555,000 558,289 571,428 0.0 Enbridge Pipelines, Inc. 4.55% Aug 17/43 CAD 523,000 590,333 570,943 0.0 Greater Toronto Airports Authority 3.04% Sep 21/22 CAD 550,000 563,794 562,903 0.0 Daimler Canada Finance, Inc. 2.54% Aug 21/23 CAD 542,000 547,919 558,276 0.0 Stantec, Inc. 2.05% Oct 08/27 CAD 565,000 564,854 556,576 0.0 Enbridge Pipelines, Inc. 2.82% May 12/31 CAD 550,000 549,571 555,874 0.0 Caterpillar Financial Services Ltd. 2.09% Sep 12/22 CAD 545,000 546,170 555,132 0.0 Verizon Communications, Inc. 3.63% May 16/50 CAD 568,000 561,534 553,698 0.0 North West Redwater Partnership / NWR Financing Co. Ltd. 2.00% Dec 01/26 CAD 550,000 548,966 550,374 0.0 Cogeco Communications, Inc. 4.18% May 26/23 CAD 518,000 542,882 543,237 0.0 Canadian National Railway Co. 3.00% Feb 08/29 CAD 503,000 510,834 531,228 0.0 Inter Pipeline Ltd. 3.17% Mar 24/25 CAD 506,000 513,860 530,657 0.0 Toyota Credit Canada, Inc. 1.18% Feb 23/26 CAD 540,000 539,973 530,572 0.0

11 Vanguard Canadian Aggregate Bond Index ETF

Description Currency Par Value Cost ($) Fair Value ($) % of Net Assets Aeroports de Montreal 3.44% Apr 26/51 CAD 500,000 500,000 530,180 0.0 Dollarama, Inc. 1.51% Sep 20/27 CAD 545,000 545,549 528,132 0.0 Vancouver Airport Authority 2.87% Oct 18/49 CAD 550,000 561,749 525,547 0.0 CCL Industries, Inc. 3.86% Apr 13/28 CAD 483,000 498,099 524,717 0.0 407 International, Inc. 2.47% Sep 08/22 CAD 515,000 512,801 523,637 0.0 Vancouver Airport Authority 2.80% Sep 21/50 CAD 550,000 548,665 517,336 0.0 Gibson Energy, Inc. 2.85% Jul 14/27 CAD 503,000 502,874 516,772 0.0 NAV Canada 2.06% May 29/30 CAD 510,000 512,567 508,807 0.0 John Deere Financial, Inc. 2.58% Oct 16/26 CAD 485,000 484,530 506,389 0.0 John Deere Canada Funding, Inc. 2.70% Jan 17/23 CAD 487,000 491,518 501,785 0.0 Saputo, Inc. 2.30% Jun 22/28 CAD 500,000 500,000 500,040 0.0 Hospital for Sick Children 3.42% Dec 07/57 CAD 468,000 499,487 498,593 0.0 Federated Co-operatives Ltd. 3.92% Jun 17/25 CAD 459,000 468,036 484,970 0.0 Westcoast Energy, Inc. 3.77% Dec 08/25 CAD 446,000 478,203 483,321 0.0 Plenary Health Care Partnerships Humber LP 4.90% May 31/39 CAD 408,030 479,534 479,921 0.0 Pembina Pipeline Corp. 4.67% May 28/50 CAD 442,000 462,007 470,288 0.0 AltaGas Ltd. 1.23% Mar 18/24 CAD 470,000 470,000 468,068 0.0 John Deere Canada Funding, Inc. 2.63% Sep 21/22 CAD 453,000 451,803 464,126 0.0 Nouvelle Autoroute 30 Financement, Inc. 4.12% Jun 30/42 CAD 419,944 461,515 461,451 0.0 407 International, Inc. 2.59% May 25/32 CAD 450,000 451,964 456,539 0.0 Metro, Inc. 2.68% Dec 05/22 CAD 442,000 447,328 452,727 0.0 University of Ottawa 2.64% Feb 13/60 CAD 495,000 495,000 432,150 0.0 TELUS Corp. 2.05% Oct 07/30 CAD 445,000 444,079 422,363 0.0 BMW Canada, Inc. 0.63% Jan 16/23 CAD 415,000 414,941 413,900 0.0 John Deere Financial, Inc. 1.63% Apr 09/26 CAD 410,000 409,974 409,840 0.0 Honda Canada Finance, Inc. 3.18% Aug 28/23 CAD 390,000 413,197 407,480 0.0 Shaw Communications, Inc. 3.80% Mar 01/27 CAD 325,000 337,632 350,838 0.0 Bell Canada, Inc. 7.85% Apr 02/31 CAD 227,000 315,948 315,053 0.0 Bell Canada, Inc. 7.30% Feb 23/32 CAD 232,000 311,628 313,207 0.0 AltaGas Ltd. 3.57% Jun 12/23 CAD 282,000 293,103 293,587 0.0 Honda Canada Finance, Inc. 2.49% Dec 19/22 CAD 250,000 250,000 256,163 0.0 407 International, Inc. 1.80% May 22/25 CAD 240,000 245,285 244,663 0.0 407 International, Inc. 3.14% Mar 06/30 CAD 106,000 110,874 114,409 0.0 AltaGas Ltd. 4.12% Apr 07/26 CAD 50,000 56,100 54,662 0.0 NAV Canada 7.56% Mar 01/27 CAD 15,000 18,528 17,926 0.0 326,438,793 330,727,664 9.9 Provincials/Municipals Province of Ontario 3.45% Jun 02/45 CAD 26,656,000 31,084,768 30,801,141 0.9 Province of Ontario 2.90% Dec 02/46 CAD 26,724,000 27,597,445 28,200,230 0.8 Province of Ontario 4.65% Jun 02/41 CAD 20,560,500 27,000,277 27,512,157 0.8 Province of Ontario 2.60% Jun 02/25 CAD 24,779,000 25,578,110 26,197,545 0.8 Province of Quebec 3.10% Dec 01/51 CAD 23,291,000 27,897,407 25,771,785 0.8 Province of Ontario 3.50% Jun 02/43 CAD 21,499,000 24,485,954 24,988,675 0.8 Province of Ontario 4.60% Jun 02/39 CAD 18,998,000 24,950,966 24,923,754 0.8 Province of Ontario 2.65% Dec 02/50 CAD 24,775,000 27,283,410 24,854,746 0.7 Province of Quebec 3.50% Dec 01/48 CAD 20,416,000 23,731,485 24,131,732 0.7 Province of Quebec 5.00% Dec 01/41 CAD 16,318,000 22,518,187 22,967,286 0.7 Province of Ontario 2.85% Jun 02/23 CAD 21,711,000 22,681,717 22,660,767 0.7 Province of Ontario 2.90% Jun 02/49 CAD 21,313,000 22,032,645 22,481,087 0.7 Province of Ontario 2.80% Jun 02/48 CAD 21,268,000 21,218,372 22,037,981 0.7 Province of Ontario 3.50% Jun 02/24 CAD 20,235,000 21,931,855 21,785,234 0.7 Province of Quebec 3.50% Dec 01/45 CAD 17,924,000 20,753,682 21,054,745 0.6 Province of Ontario 4.70% Jun 02/37 CAD 15,770,000 20,340,592 20,632,860 0.6 Hydro-Quebec 5.00% Feb 15/50 CAD 12,889,000 19,302,848 19,052,365 0.6 Province of Ontario 2.05% Jun 02/30 CAD 18,715,000 19,878,433 18,921,936 0.6 Province of Quebec 1.90% Sep 01/30 CAD 18,732,000 19,690,089 18,752,660 0.6 Province of Ontario 5.60% Jun 02/35 CAD 13,244,000 18,722,472 18,453,240 0.6 Province of Ontario 2.90% Jun 02/28 CAD 16,700,000 17,374,225 18,085,794 0.5 Province of Ontario 1.75% Sep 08/25 CAD 17,180,000 17,879,226 17,599,506 0.5 Province of Quebec 4.25% Dec 01/43 CAD 13,251,000 17,006,094 17,238,509 0.5 Province of Ontario 2.70% Jun 02/29 CAD 15,678,000 16,576,718 16,738,960 0.5 Province of Ontario 1.90% Dec 02/51 CAD 19,454,000 17,174,857 16,465,304 0.5 Hydro-Quebec 4.00% Feb 15/55 CAD 11,854,000 16,089,820 15,449,628 0.5 Province of Alberta 3.10% Jun 01/50 CAD 14,244,000 15,983,414 15,291,395 0.5 Province of Ontario 2.60% Jun 02/27 CAD 14,159,000 14,537,264 15,046,458 0.5 Province of Ontario 6.20% Jun 02/31 CAD 10,908,000 15,625,331 15,025,572 0.5 Province of Ontario 2.40% Jun 02/26 CAD 13,943,000 14,347,534 14,666,081 0.4 Province of Alberta 2.05% Jun 01/30 CAD 14,126,000 14,478,742 14,231,674 0.4 Province of Ontario 5.85% Mar 08/33 CAD 10,328,000 14,688,840 14,213,749 0.4 Province of Quebec 2.75% Sep 01/25 CAD 12,622,000 13,314,079 13,466,444 0.4 Province of Alberta 3.05% Dec 01/48 CAD 12,191,000 12,645,310 12,993,582 0.4 Province of Quebec 3.50% Dec 01/22 CAD 12,323,000 13,112,576 12,857,743 0.4 Province of Quebec 2.50% Sep 01/26 CAD 11,844,000 12,222,317 12,544,562 0.4

12 Vanguard Canadian Aggregate Bond Index ETF

Description Currency Par Value Cost ($) Fair Value ($) % of Net Assets Hydro-Quebec 5.00% Feb 15/45 CAD 8,520,000 11,971,813 12,217,004 0.4 Province of Quebec 2.75% Sep 01/27 CAD 11,358,000 11,890,291 12,211,714 0.4 Province of Quebec 3.75% Sep 01/24 CAD 11,028,000 12,118,579 12,022,849 0.4 Province of Quebec 2.75% Sep 01/28 CAD 10,536,000 10,902,573 11,348,141 0.3 Province of Quebec 5.00% Dec 01/38 CAD 8,273,000 11,314,623 11,347,560 0.3 Province of Quebec 2.30% Sep 01/29 CAD 10,287,000 10,532,012 10,712,876 0.3 Province of British Columbia 2.95% Jun 18/50 CAD 9,854,000 11,289,629 10,628,117 0.3 Province of Alberta 3.30% Dec 01/46 CAD 9,522,000 10,424,910 10,575,489 0.3 Province of Ontario 6.50% Mar 08/29 CAD 7,877,000 10,784,624 10,538,747 0.3 Hydro-Quebec 6.50% Feb 15/35 CAD 6,936,000 10,413,831 10,359,708 0.3 Hydro-Quebec 6.00% Feb 15/40 CAD 6,692,000 10,253,155 10,218,888 0.3 Province of Quebec 5.75% Dec 01/36 CAD 6,890,000 9,973,008 9,963,916 0.3 Province of British Columbia 2.80% Jun 18/48 CAD 9,250,000 9,732,404 9,713,941 0.3 Province of Quebec 6.25% Jun 01/32 CAD 6,670,000 9,518,073 9,365,867 0.3 Province of Ontario 2.60% Sep 08/23 CAD 8,828,000 9,015,212 9,207,344 0.3 Province of Alberta 2.55% Jun 01/27 CAD 8,668,000 8,940,028 9,175,915 0.3 Province of British Columbia 4.30% Jun 18/42 CAD 6,759,000 8,620,564 8,812,683 0.3 Province of British Columbia 3.20% Jun 18/44 CAD 7,613,000 8,295,457 8,565,081 0.3 Province of Quebec 1.50% Sep 01/31 CAD 8,850,000 8,415,702 8,445,556 0.3 Province of Quebec 3.00% Sep 01/23 CAD 7,977,000 8,421,112 8,390,090 0.3 Province of British Columbia 2.85% Jun 18/25 CAD 7,538,000 8,131,163 8,064,251 0.2 Province of British Columbia 2.20% Jun 18/30 CAD 7,379,000 7,744,476 7,589,872 0.2 Province of Ontario 2.15% Jun 02/31 CAD 7,461,000 7,528,958 7,531,899 0.2 Province of Ontario 7.60% Jun 02/27 CAD 5,563,000 7,948,717 7,480,134 0.2 Province of Alberta 2.35% Jun 01/25 CAD 6,767,000 6,975,714 7,089,221 0.2 Province of Ontario 1.35% Dec 02/30 CAD 7,270,000 6,950,527 6,878,458 0.2 Province of Alberta 2.20% Jun 01/26 CAD 6,581,000 6,658,312 6,857,510 0.2 Province of Alberta 3.50% Jun 01/31 CAD 5,475,000 6,150,659 6,180,130 0.2 Province of Alberta 2.90% Dec 01/28 CAD 5,452,000 5,644,165 5,891,132 0.2 Province of Ontario 2.65% Feb 05/25 CAD 5,418,000 5,700,139 5,736,372 0.2 Province of Quebec 6.00% Oct 01/29 CAD 4,237,000 5,698,484 5,595,533 0.2 Province of Quebec 2.85% Dec 01/53 CAD 5,250,000 5,458,116 5,541,330 0.2 Province of British Columbia 4.95% Jun 18/40 CAD 3,988,000 5,484,231 5,533,620 0.2 Province of Manitoba 2.55% Jun 02/23 CAD 5,249,000 5,411,141 5,448,213 0.2 Province of Manitoba 2.45% Jun 02/25 CAD 4,987,000 5,205,453 5,243,712 0.2 Province of British Columbia 5.70% Jun 18/29 CAD 3,915,000 5,134,051 5,059,080 0.2 Province of Manitoba 3.20% Mar 05/50 CAD 4,493,000 5,099,374 4,976,093 0.2 Province of Quebec 9.38% Jan 16/23 CAD 4,295,000 5,562,458 4,877,782 0.2 Province of Ontario 1.85% Feb 01/27 CAD 4,753,000 4,990,449 4,866,434 0.2 Province of Alberta 3.45% Dec 01/43 CAD 4,184,000 4,716,227 4,761,815 0.1 Province of Saskatchewan 3.10% Jun 02/50 CAD 4,146,000 4,643,882 4,533,205 0.1 Province of Quebec 8.50% Apr 01/26 CAD 3,380,000 4,922,942 4,490,778 0.1 Province of British Columbia 3.30% Dec 18/23 CAD 4,179,000 4,472,080 4,449,871 0.1 Province of British Columbia 6.35% Jun 18/31 CAD 3,166,000 4,525,870 4,428,033 0.1 Province of Ontario 8.50% Dec 02/25 CAD 3,363,000 4,673,775 4,408,019 0.1 Province of British Columbia 2.55% Jun 18/27 CAD 4,138,000 4,391,491 4,401,330 0.1 Province of Saskatchewan 3.90% Jun 02/45 CAD 3,536,000 4,354,502 4,367,662 0.1 Province of Alberta 3.10% Jun 01/24 CAD 4,090,000 4,400,732 4,355,852 0.1 Province of Manitoba 3.40% Sep 05/48 CAD 3,771,000 4,242,505 4,325,701 0.1 Hydro-Quebec 2.10% Feb 15/60 CAD 4,967,000 4,525,095 4,304,788 0.1 Province of Saskatchewan 2.75% Dec 02/46 CAD 4,177,000 4,228,234 4,292,844 0.1 Province of Saskatchewan 3.30% Jun 02/48 CAD 3,715,000 4,056,093 4,204,370 0.1 Province of Alberta 2.95% Jun 01/52 CAD 3,970,000 4,064,110 4,148,193 0.1 Province of British Columbia 4.70% Jun 18/37 CAD 3,093,000 4,030,560 4,083,482 0.1 Province of Ontario 1.05% Sep 08/27 CAD 4,100,000 4,106,017 3,985,469 0.1 Province of Newfoundland 3.30% Oct 17/46 CAD 3,696,000 3,800,210 3,925,161 0.1 Province of British Columbia 2.95% Dec 18/28 CAD 3,454,000 3,614,680 3,764,931 0.1 Province of Alberta 2.90% Sep 20/29 CAD 3,432,000 3,585,420 3,699,340 0.1 Province of Nova Scotia 3.15% Dec 01/51 CAD 3,201,000 3,663,162 3,525,460 0.1 Financement-Quebec 5.25% Jun 01/34 CAD 2,638,000 3,486,281 3,503,227 0.1 Province of Manitoba 2.55% Jun 02/26 CAD 3,306,000 3,350,714 3,500,174 0.1 Province of British Columbia 2.70% Dec 18/22 CAD 3,376,000 3,497,334 3,488,115 0.1 Province of Alberta 2.55% Dec 15/22 CAD 3,384,000 3,471,277 3,487,451 0.1 Province of Ontario 1.95% Jan 27/23 CAD 3,381,000 3,419,250 3,459,796 0.1 Province of Manitoba 2.85% Sep 05/46 CAD 3,242,000 3,184,932 3,373,608 0.1 Province of Manitoba 4.05% Sep 05/45 CAD 2,631,000 3,273,325 3,311,321 0.1 Province of New Brunswick 3.55% Jun 03/43 CAD 2,824,000 3,160,728 3,268,512 0.1 Province of New Brunswick 4.80% Jun 03/41 CAD 2,420,000 3,244,360 3,263,073 0.1 Province of New Brunswick 3.80% Aug 14/45 CAD 2,528,000 2,979,681 3,044,189 0.1 Hydro-Quebec 9.63% Jul 15/22 CAD 2,776,000 3,346,435 3,038,971 0.1 Province of British Columbia 2.30% Jun 18/26 CAD 2,871,000 2,950,511 3,015,481 0.1 Province of Manitoba 4.10% Mar 05/41 CAD 2,371,000 2,884,344 2,953,861 0.1 Province of Newfoundland 2.65% Oct 17/50 CAD 3,151,000 3,109,302 2,937,625 0.1 Province of Saskatchewan 3.05% Dec 02/28 CAD 2,667,000 2,812,595 2,915,061 0.1

13 Vanguard Canadian Aggregate Bond Index ETF

Description Currency Par Value Cost ($) Fair Value ($) % of Net Assets Province of Alberta 3.90% Dec 01/33 CAD 2,474,000 2,786,392 2,901,150 0.1 Province of Manitoba 3.00% Jun 02/28 CAD 2,643,000 2,743,562 2,877,468 0.1 Province of Nova Scotia 3.50% Jun 02/62 CAD 2,325,000 2,654,546 2,803,903 0.1 Province of Alberta 2.65% Sep 01/23 CAD 2,656,000 2,735,402 2,772,285 0.1 Province of Newfoundland 3.70% Oct 17/48 CAD 2,329,000 2,591,854 2,644,822 0.1 Province of New Brunswick 3.05% Aug 14/50 CAD 2,403,000 2,685,355 2,568,223 0.1 Province of Manitoba 2.75% Jun 02/29 CAD 2,395,000 2,591,760 2,564,248 0.1 Province of Nova Scotia 4.40% Jun 01/42 CAD 1,911,000 2,532,810 2,486,840 0.1 Province of Newfoundland 3.00% Jun 02/26 CAD 2,308,000 2,471,762 2,482,120 0.1 Province of Ontario 8.00% Jun 02/26 CAD 1,875,000 2,675,222 2,470,740 0.1 Province of Saskatchewan 2.20% Jun 02/30 CAD 2,410,000 2,519,170 2,466,708 0.1 Province of Manitoba 2.60% Jun 02/27 CAD 2,304,000 2,368,149 2,446,838 0.1 City of Montreal 3.15% Sep 01/28 CAD 2,211,000 2,405,380 2,417,003 0.1 Province of Newfoundland 2.85% Jun 02/28 CAD 2,245,000 2,265,049 2,402,225 0.1 Province of Manitoba 2.05% Jun 02/30 CAD 2,329,000 2,425,679 2,353,110 0.1 Province of Saskatchewan 0.80% Sep 02/25 CAD 2,270,000 2,264,677 2,238,107 0.1 Province of Saskatchewan 2.65% Jun 02/27 CAD 2,086,000 2,197,416 2,222,912 0.1 Province of British Columbia 4.90% Jun 18/48 CAD 1,524,000 2,394,516 2,220,934 0.1 Province of New Brunswick 4.80% Sep 26/39 CAD 1,663,000 2,101,390 2,214,466 0.1 Province of British Columbia 1.55% Jun 18/31 CAD 2,270,000 2,161,266 2,182,034 0.1 Province of Saskatchewan 4.75% Jun 01/40 CAD 1,623,000 2,199,715 2,181,379 0.1 Ontario Electricity Financial Corp. 8.25% Jun 22/26 CAD 1,629,000 2,362,840 2,160,426 0.1 Province of Nova Scotia 4.70% Jun 01/41 CAD 1,610,000 2,157,003 2,159,642 0.1 Municipal Finance Authority of British Columbia 2.50% Apr 19/26 CAD 1,990,000 2,048,593 2,100,100 0.1 Province of New Brunswick 2.35% Aug 14/27 CAD 1,971,000 1,999,558 2,063,721 0.1 Province of Ontario 2.30% Sep 08/24 CAD 1,970,000 2,034,082 2,057,046 0.1 Province of New Brunswick 3.10% Aug 14/48 CAD 1,905,000 1,977,419 2,056,840 0.1 Province of New Brunswick 3.10% Aug 14/28 CAD 1,863,000 2,024,447 2,039,197 0.1 Hydro-Quebec 6.50% Jan 16/35 CAD 1,375,000 2,113,826 2,033,345 0.1 Province of Ontario 7.50% Feb 07/24 CAD 1,736,000 2,216,017 2,032,095 0.1 City of Montreal 3.50% Dec 01/38 CAD 1,796,000 2,022,218 2,024,207 0.1 Province of Quebec 5.35% Jun 01/25 CAD 1,710,000 2,042,542 1,985,258 0.1 Province of Saskatchewan 2.55% Jun 02/26 CAD 1,863,000 1,902,751 1,973,316 0.1 Province of British Columbia 5.40% Jun 18/35 CAD 1,403,000 1,969,479 1,937,027 0.1 Province of New Brunswick 3.65% Jun 03/24 CAD 1,779,000 1,923,862 1,922,055 0.1 Province of Manitoba 5.70% Mar 05/37 CAD 1,340,000 1,870,465 1,918,131 0.1 Province of Saskatchewan 3.20% Jun 03/24 CAD 1,789,000 1,906,090 1,910,719 0.1 Province of Manitoba 2.05% Sep 05/52 CAD 2,190,000 1,934,166 1,906,770 0.1 Province of New Brunswick 2.85% Jun 02/23 CAD 1,818,000 1,896,072 1,896,871 0.1 Province of Manitoba 4.65% Mar 05/40 CAD 1,429,000 1,841,766 1,888,732 0.1 City of Montreal 6.00% Jun 01/43 CAD 1,210,000 1,791,865 1,867,650 0.1 Province of Ontario 9.50% Jul 13/22 CAD 1,698,000 2,165,500 1,856,181 0.1 Province of Nova Scotia 2.00% Sep 01/30 CAD 1,837,000 1,891,802 1,845,290 0.1 Province of Newfoundland 2.85% Jun 02/29 CAD 1,715,000 1,850,979 1,829,026 0.1 Province of Saskatchewan 3.75% Mar 05/54 CAD 1,463,000 1,935,944 1,817,152 0.1 Ontario Electricity Financial Corp. 8.90% Aug 18/22 CAD 1,637,000 2,101,559 1,792,650 0.1 Province of Newfoundland 6.55% Oct 17/30 CAD 1,299,000 1,831,102 1,775,707 0.1 Province of Quebec 2.60% Jul 06/25 CAD 1,640,000 1,748,077 1,740,061 0.1 Province of Manitoba 4.40% Mar 05/42 CAD 1,338,000 1,785,929 1,736,320 0.1 Province of Manitoba 3.30% Jun 02/24 CAD 1,610,000 1,730,108 1,723,811 0.1 Province of Saskatchewan 3.40% Feb 03/42 CAD 1,503,000 1,650,000 1,719,016 0.1 Province of Newfoundland 2.30% Jun 02/25 CAD 1,626,000 1,630,244 1,695,455 0.1 Province of Quebec 2.45% Mar 01/23 CAD 1,627,000 1,688,113 1,681,012 0.1 Province of Nova Scotia 4.50% Jun 01/37 CAD 1,292,000 1,608,361 1,651,655 0.1 Hydro-Quebec 6.00% Aug 15/31 CAD 1,208,000 1,710,917 1,645,402 0.1 City of Toronto 3.50% Jun 02/36 CAD 1,446,000 1,572,879 1,629,044 0.1 Province of New Brunswick 2.60% Aug 14/26 CAD 1,534,000 1,611,420 1,627,691 0.1 Province of Manitoba 6.30% Mar 05/31 CAD 1,174,000 1,681,461 1,611,495 0.1 Province of Newfoundland 4.65% Oct 17/40 CAD 1,256,000 1,607,503 1,600,493 0.1 Province of Ontario 8.10% Sep 08/23 CAD 1,376,000 1,867,107 1,598,140 0.1 Province of Nova Scotia 6.60% Dec 01/31 CAD 1,120,000 1,681,070 1,590,881 0.1 City of Montreal 3.00% Sep 01/27 CAD 1,456,000 1,513,600 1,574,093 0.1 Province of New Brunswick 1.80% Aug 14/25 CAD 1,500,000 1,541,628 1,538,691 0.1 Province of British Columbia 2.75% Jun 18/52 CAD 1,440,000 1,496,043 1,495,577 0.1 City of Toronto 5.20% Jun 01/40 CAD 1,075,000 1,433,069 1,484,195 0.1 Province of Alberta 4.50% Dec 01/40 CAD 1,139,000 1,479,745 1,473,359 0.1 Province of Quebec 9.50% Mar 30/23 CAD 1,275,000 1,575,225 1,472,811 0.1 Province of Nova Scotia 5.80% Jun 01/33 CAD 1,062,000 1,466,417 1,457,443 0.1 City of Toronto 4.70% Jun 10/41 CAD 1,110,000 1,475,897 1,456,321 0.1 Province of Alberta 1.60% Sep 01/22 CAD 1,425,000 1,424,616 1,446,088 0.1 Ontario Power Generation, Inc. 3.22% Apr 08/30 CAD 1,341,000 1,417,360 1,437,472 0.0 Province of Manitoba 4.40% Sep 05/25 CAD 1,269,000 1,464,976 1,435,855 0.0 Province of Saskatchewan 6.40% Sep 05/31 CAD 1,008,000 1,415,702 1,408,784 0.0 Province of Alberta 1.65% Jun 01/31 CAD 1,450,000 1,383,629 1,393,634 0.0

14 Vanguard Canadian Aggregate Bond Index ETF

Description Currency Par Value Cost ($) Fair Value ($) % of Net Assets Municipal Finance Authority of British Columbia 2.30% Apr 15/31 CAD 1,345,000 1,359,122 1,374,906 0.0 Municipal Finance Authority of British Columbia 3.05% Oct 23/28 CAD 1,254,000 1,287,005 1,369,315 0.0 Municipal Finance Authority of British Columbia 2.15% Jun 03/24 CAD 1,260,000 1,285,709 1,307,774 0.0 Province of Ontario 1.35% Sep 08/26 CAD 1,300,000 1,301,167 1,298,659 0.0 City of Ottawa 1.75% Sep 01/30 CAD 1,329,000 1,313,449 1,296,009 0.0 Province of Manitoba 4.60% Mar 05/38 CAD 996,000 1,274,146 1,292,401 0.0 City of Montreal 3.50% Sep 01/23 CAD 1,186,000 1,259,240 1,258,252 0.0 Province of Saskatchewan 5.00% Mar 05/37 CAD 930,000 1,204,453 1,250,533 0.0 City of Winnipeg 4.30% Nov 15/51 CAD 951,000 1,217,271 1,218,738 0.0 Province of Ontario 6.20% Dec 02/41 CAD 764,000 1,181,020 1,204,017 0.0 Municipal Finance Authority of British Columbia 4.95% Dec 01/27 CAD 986,000 1,185,829 1,187,949 0.0 City of Montreal 4.25% Dec 01/32 CAD 979,000 1,141,223 1,171,205 0.0 Regional Municipality of York 2.60% Dec 15/25 CAD 1,098,000 1,165,860 1,161,670 0.0 Ontario Electricity Financial Corp. 0.00% Apr 11/31 CAD 1,446,000 1,114,872 1,154,925 0.0 City of Montreal 3.15% Dec 01/36 CAD 1,062,000 1,087,789 1,148,287 0.0 Ontario Electricity Financial Corp. 9.00% May 26/25 CAD 883,000 1,265,964 1,143,189 0.0 Province of Alberta 3.40% Dec 01/23 CAD 1,070,000 1,120,922 1,139,512 0.0 Municipal Finance Authority of British Columbia 2.80% Dec 03/23 CAD 1,081,000 1,101,632 1,135,852 0.0 Province of New Brunswick 4.55% Mar 26/37 CAD 886,000 1,105,812 1,130,084 0.0 Province of Manitoba 3.15% Sep 05/52 CAD 1,018,000 1,003,004 1,123,133 0.0 Municipal Finance Authority of British Columbia 2.15% Dec 01/22 CAD 1,075,000 1,097,434 1,101,480 0.0 City of Montreal 4.10% Dec 01/34 CAD 920,000 1,034,963 1,100,093 0.0 City of Toronto 2.40% Jun 07/27 CAD 1,045,000 1,047,656 1,096,805 0.0 City of Toronto 2.40% Jun 24/26 CAD 1,042,000 1,047,728 1,094,374 0.0 First Nations Finance Authority 1.71% Jun 16/30 CAD 1,118,000 1,129,184 1,092,688 0.0 Ontario Electricity Financial Corp. 8.50% May 26/25 CAD 844,000 1,273,572 1,076,636 0.0 Ontario Power Generation, Inc. 2.89% Apr 08/25 CAD 1,008,000 1,068,809 1,063,894 0.0 Province of Nova Scotia 2.10% Jun 01/27 CAD 1,027,000 1,037,550 1,062,320 0.0 Province of Newfoundland 6.15% Apr 17/28 CAD 832,000 1,080,363 1,060,711 0.0 Province of British Columbia 6.15% Nov 19/27 CAD 822,000 1,085,737 1,052,491 0.0 City of Toronto 2.80% Nov 22/49 CAD 1,054,000 1,129,531 1,051,643 0.0 Ontario Power Generation, Inc. 2.98% Sep 13/29 CAD 972,000 1,003,518 1,028,182 0.0 Province of New Brunswick 5.50% Jan 27/34 CAD 760,000 1,008,018 1,023,967 0.0 Ontario Power Generation, Inc. 4.25% Jan 18/49 CAD 872,000 955,538 1,020,545 0.0 Province of New Brunswick 5.65% Dec 27/28 CAD 802,000 1,005,446 1,019,025 0.0 City of Montreal 2.40% Dec 01/41 CAD 1,060,000 1,018,919 1,015,703 0.0 Regional Municipality of Peel 5.10% Jun 29/40 CAD 743,000 968,380 1,013,590 0.0 Province of Newfoundland 1.75% Jun 02/30 CAD 1,010,000 1,015,024 982,785 0.0 Municipal Finance Authority of British Columbia 2.55% Oct 09/29 CAD 918,000 975,716 966,342 0.0 Province of Quebec 2.25% Feb 22/24 CAD 925,000 961,878 962,701 0.0 City of Toronto 3.25% Jun 24/46 CAD 882,000 928,471 953,275 0.0 Newfoundland & Labrador Hydro 3.60% Dec 01/45 CAD 858,000 903,724 951,731 0.0 Ontario Power Generation, Inc. 3.32% Oct 04/27 CAD 876,000 890,021 949,707 0.0 Province of Manitoba 4.70% Mar 05/50 CAD 664,000 945,303 932,715 0.0 Province of Nova Scotia 6.60% Jun 01/27 CAD 716,000 950,370 921,949 0.0 Regional Municipality of York 4.05% May 01/34 CAD 776,000 888,078 918,197 0.0 Municipal Finance Authority of British Columbia 2.95% Oct 14/24 CAD 860,000 905,271 915,837 0.0 Province of Nova Scotia 1.10% Jun 01/28 CAD 930,000 901,830 897,960 0.0 Province of Quebec 1.85% Feb 13/27 CAD 870,000 892,887 893,265 0.0 City of Ottawa 3.10% Jul 27/48 CAD 841,000 867,060 891,850 0.0 Municipal Finance Authority of British Columbia 1.10% Jun 01/25 CAD 885,000 890,502 884,843 0.0 City of Toronto 2.65% Nov 09/29 CAD 831,000 873,892 879,792 0.0 Province of Saskatchewan 5.60% Sep 05/35 CAD 618,000 828,847 864,372 0.0 EPCOR Utilities, Inc. 3.11% Jul 08/49 CAD 876,000 924,998 863,456 0.0 Ontario Power Generation, Inc. 2.95% Feb 21/51 CAD 925,000 905,631 860,620 0.0 Fair Hydro Trust 3.36% May 15/35 CAD 789,000 817,364 859,513 0.0 Province of Manitoba 3.35% Mar 05/43 CAD 752,000 835,899 851,103 0.0 Municipal Finance Authority of British Columbia 2.60% Apr 23/23 CAD 813,000 824,514 843,120 0.0 Municipal Finance Authority of British Columbia 2.65% Oct 02/25 CAD 790,000 859,142 837,965 0.0 Regional Municipality of York 1.70% May 27/30 CAD 850,000 876,851 831,955 0.0 Ontario Power Generation, Inc. 3.84% Jun 22/48 CAD 759,000 792,309 828,919 0.0 South Coast British Columbia Transportation Authority 1.60% Jul 03/30 CAD 855,000 848,812 827,029 0.0 Province of Nova Scotia 1.00% Apr 17/23 CAD 814,000 820,848 821,002 0.0 Regional Municipality of Peel 3.85% Oct 30/42 CAD 690,000 775,306 819,357 0.0 Province of New Brunswick 4.65% Sep 26/35 CAD 637,000 762,476 812,351 0.0 Province of Manitoba 2.05% Jun 02/31 CAD 805,000 802,476 804,756 0.0 City of Montreal 3.50% Sep 01/24 CAD 724,000 788,858 780,732 0.0 Municipal Finance Authority of British Columbia 3.75% Sep 26/23 CAD 730,000 788,380 780,382 0.0 South Coast British Columbia Transportation Authority 3.05% Jun 04/25 CAD 728,000 793,680 780,371 0.0 City of Toronto 2.95% Apr 28/35 CAD 731,000 718,713 775,424 0.0 City of Montreal 2.75% Sep 01/26 CAD 718,000 741,273 764,008 0.0 Province of Saskatchewan 5.80% Sep 05/33 CAD 538,000 759,699 743,168 0.0 Newfoundland & Labrador Hydro 8.40% Feb 27/26 CAD 565,000 792,191 742,005 0.0

15 Vanguard Canadian Aggregate Bond Index ETF

Description Currency Par Value Cost ($) Fair Value ($) % of Net Assets Regional Municipality of York 2.65% Apr 18/29 CAD 699,000 731,771 741,306 0.0 Province of Manitoba 3.25% Sep 05/29 CAD 661,000 706,040 732,281 0.0 South Coast British Columbia Transportation Authority 4.45% Jun 09/44 CAD 566,000 690,291 729,458 0.0 South Coast British Columbia Transportation Authority 3.25% Nov 23/28 CAD 658,000 677,143 727,562 0.0 City of Montreal 2.30% Sep 01/29 CAD 705,000 706,265 725,675 0.0 Province of New Brunswick 3.55% Jun 03/55 CAD 610,000 710,612 721,244 0.0 Province of Saskatchewan 2.95% Jun 02/58 CAD 666,000 664,592 715,103 0.0 Fair Hydro Trust 3.52% May 15/38 CAD 634,000 673,935 706,308 0.0 Regional Municipality of York 3.65% May 13/33 CAD 602,000 626,324 684,453 0.0 EPCOR Utilities, Inc. 3.55% Nov 27/47 CAD 633,000 642,343 674,101 0.0 Province of Ontario 8.00% Dec 02/26 CAD 500,000 759,160 670,445 0.0 Ontario Infrastructure and Lands Corp. 4.70% Jun 01/37 CAD 528,000 644,794 669,682 0.0 First Nations Finance Authority 3.05% Jun 01/28 CAD 614,000 648,051 668,183 0.0 City of Toronto 2.90% Apr 29/51 CAD 656,000 634,111 665,078 0.0 City of Ottawa 4.60% Jul 14/42 CAD 507,000 642,386 663,071 0.0 ENMAX Corp. 3.84% Jun 05/28 CAD 607,000 640,634 654,194 0.0 Lower Mattagami Energy LP 2.43% May 14/31 CAD 640,000 646,844 651,174 0.0 Province of Nova Scotia 3.45% Jun 01/45 CAD 562,000 629,020 646,822 0.0 EPCOR Utilities, Inc. 4.55% Feb 28/42 CAD 534,000 624,094 644,639 0.0 City of Toronto 3.80% Dec 13/42 CAD 542,000 613,618 639,631 0.0 Province of Newfoundland 5.70% Oct 17/35 CAD 467,000 625,480 639,423 0.0 Regional Municipality of York 4.00% May 31/32 CAD 542,000 609,067 634,327 0.0 Province of British Columbia 8.00% Sep 08/23 CAD 539,000 685,918 624,969 0.0 Province of Prince Edward Island 3.60% Jan 17/53 CAD 515,000 571,288 603,230 0.0 City of Montreal 3.00% Sep 01/25 CAD 560,000 579,916 599,896 0.0 City of Ottawa 2.50% May 11/51 CAD 635,000 625,854 595,971 0.0 Province of British Columbia 9.00% Aug 23/24 CAD 475,000 621,354 594,378 0.0 City of Toronto 4.15% Mar 10/44 CAD 480,000 559,289 592,778 0.0 New Brunswick F-M Project Co. Inc. 6.47% Nov 30/27 CAD 499,889 578,291 583,321 0.0 City of Toronto 2.45% Feb 06/25 CAD 540,000 551,947 565,521 0.0 Province of Nova Scotia 4.90% Jun 01/35 CAD 428,000 540,924 559,190 0.0 City of Toronto 3.20% Aug 01/48 CAD 516,000 561,460 555,801 0.0 City of Ottawa 3.25% Nov 10/47 CAD 507,000 558,857 551,093 0.0 Province of Manitoba 7.75% Dec 22/25 CAD 425,000 572,267 544,666 0.0 Alberta Capital Finance Authority 4.45% Dec 15/25 CAD 474,000 541,995 538,781 0.0 Ontario Power Generation, Inc. 3.65% Sep 13/50 CAD 497,000 523,613 528,023 0.0 ENMAX Corp. 2.92% Oct 18/22 CAD 515,000 526,206 527,921 0.0 Province of Nova Scotia 2.15% Jun 01/25 CAD 485,000 500,519 504,557 0.0 Newfoundland & Labrador Hydro 6.65% Aug 27/31 CAD 359,000 518,709 498,988 0.0 Province of Newfoundland 5.60% Oct 17/33 CAD 374,000 499,578 497,272 0.0 ENMAX Corp. 3.33% Jun 02/25 CAD 465,000 476,331 491,152 0.0 Province of Newfoundland 4.50% Apr 17/37 CAD 397,000 479,550 488,986 0.0 City of Toronto 3.90% Sep 29/23 CAD 413,000 443,770 442,502 0.0 Province of Saskatchewan 2.15% Jun 02/31 CAD 400,000 400,491 403,997 0.0 Municipal Finance Authority of British Columbia 1.35% Jun 30/26 CAD 395,000 395,198 395,282 0.0 City of Toronto 3.40% May 21/24 CAD 367,000 401,630 393,437 0.0 Province of Saskatchewan 5.75% Mar 05/29 CAD 297,000 387,027 380,958 0.0 EPCOR Utilities, Inc. 2.90% May 19/50 CAD 375,000 375,758 354,802 0.0 Regional Municipality of York 2.35% Jun 09/27 CAD 295,000 303,564 308,594 0.0 Ontario Power Generation, Inc. 1.17% Apr 22/26 CAD 280,000 280,000 274,896 0.0 Regional Municipality of York 2.50% Jun 02/26 CAD 247,000 255,060 260,409 0.0 City of Toronto 2.60% Sep 24/39 CAD 175,000 182,507 175,251 0.0 Province of British Columbia 5.15% Jun 18/29 CAD 125,000 161,579 156,486 0.0 Province of Saskatchewan 2.80% Dec 02/52 CAD 150,000 150,357 155,043 0.0 City of Toronto 2.15% Aug 25/40 CAD 80,000 77,403 74,215 0.0 Province of Ontario 9.50% Jun 02/25 CAD 50,000 80,151 66,051 0.0 Province of British Columbia 8.75% Aug 19/22 CAD 50,000 58,935 54,694 0.0 Province of British Columbia 5.00% Jun 18/31 CAD 36,000 42,963 45,957 0.0 Province of Manitoba 6.00% Mar 05/42 CAD 25,000 36,711 38,869 0.0 Province of Ontario 5.70% Dec 02/39 CAD 3,000 4,843 4,438 0.0 1,413,948,536 1,409,839,035 42.1 Utilities Hydro One, Inc. 6.93% Jun 01/32 CAD 1,263,000 1,740,642 1,769,539 0.1 Hydro One, Inc. 5.49% Jul 16/40 CAD 1,247,000 1,686,033 1,678,774 0.1 Brookfield Infrastructure Finance ULC 3.41% Oct 09/29 CAD 1,404,000 1,410,924 1,479,339 0.1 Hydro One, Inc. 2.77% Feb 24/26 CAD 1,323,000 1,367,914 1,395,355 0.1 CU, Inc. 4.54% Oct 24/41 CAD 1,132,000 1,333,585 1,362,215 0.1 National Grid Electricity Transmission plc 2.30% Jun 22/29 CAD 1,315,000 1,315,000 1,312,173 0.1 Hydro One, Inc. 2.54% Apr 05/24 CAD 1,205,000 1,250,012 1,252,212 0.1 CU, Inc. 3.81% Sep 10/42 CAD 1,137,000 1,230,660 1,246,038 0.1 Brookfield Infrastructure Finance ULC 3.32% Feb 22/24 CAD 1,175,000 1,202,346 1,233,903 0.1

16 Vanguard Canadian Aggregate Bond Index ETF

Description Currency Par Value Cost ($) Fair Value ($) % of Net Assets Hydro One, Inc. 1.76% Feb 28/25 CAD 1,210,000 1,219,813 1,231,405 0.1 AltaLink LP 3.99% Jun 30/42 CAD 1,060,000 1,186,194 1,205,973 0.1 Alectra, Inc. 2.49% May 17/27 CAD 1,154,000 1,158,703 1,200,702 0.1 Alberta Powerline LP 4.07% Mar 01/54 CAD 1,073,256 1,167,911 1,195,329 0.1 CU, Inc. 4.72% Sep 09/43 CAD 964,000 1,173,252 1,195,003 0.1 Bruce Power LP 4.75% Jun 21/49 CAD 986,000 1,117,311 1,188,465 0.1 Bruce Power LP 3.97% Jun 23/26 CAD 1,082,000 1,137,873 1,184,844 0.1 Hydro One, Inc. 4.89% Mar 13/37 CAD 919,000 1,101,564 1,145,285 0.1 Northwestern Hydro Acquisition Co. III LP 3.94% Dec 31/38 CAD 1,061,000 1,125,946 1,132,140 0.1 Enbridge Gas, Inc. 3.65% Apr 01/50 CAD 1,028,000 1,085,185 1,115,483 0.1 Hydro One, Inc. 6.35% Jan 31/34 CAD 811,000 1,097,599 1,113,471 0.1 Bruce Power LP 4.00% Jun 21/30 CAD 1,002,000 1,024,144 1,111,148 0.1 Hydro One, Inc. 5.36% May 20/36 CAD 853,000 1,070,034 1,104,251 0.1 Brookfield Renewable Partners ULC 3.38% Jan 15/30 CAD 1,005,000 1,052,579 1,082,335 0.1 CU, Inc. 2.96% Sep 07/49 CAD 1,113,000 1,126,338 1,068,090 0.1 Hydro One, Inc. 6.03% Mar 03/39 CAD 754,000 1,064,749 1,056,301 0.1 Brookfield Infrastructure Finance ULC 4.19% Sep 11/28 CAD 949,000 987,394 1,053,343 0.0 Enbridge Gas, Inc. 2.90% Apr 01/30 CAD 991,000 1,010,645 1,043,473 0.0 Hydro One, Inc. 3.79% Jul 31/62 CAD 883,000 1,041,388 990,532 0.0 CU, Inc. 3.95% Nov 23/48 CAD 840,000 961,010 955,214 0.0 Hydro One, Inc. 4.39% Sep 26/41 CAD 801,000 979,049 955,209 0.0 Emera, Inc. 2.90% Jun 16/23 CAD 895,000 899,277 925,940 0.0 Hydro One, Inc. 3.63% Jun 25/49 CAD 847,000 943,321 923,035 0.0 Brookfield Renewable Partners ULC 3.63% Jan 15/27 CAD 843,000 889,696 915,650 0.0 AltaLink LP 3.67% Nov 06/23 CAD 860,000 920,976 914,739 0.0 Fortis, Inc. 2.85% Dec 12/23 CAD 864,000 880,516 899,070 0.0 Alberta Powerline LP 4.07% Dec 01/53 CAD 799,500 858,213 892,002 0.0 Enbridge Gas, Inc. 6.05% Sep 02/38 CAD 643,000 897,955 888,388 0.0 AltaLink LP 3.72% Dec 03/46 CAD 792,000 876,774 876,855 0.0 Fortis, Inc. 2.18% May 15/28 CAD 870,000 869,548 875,603 0.0 Brookfield Infrastructure Finance ULC 2.86% Sep 01/32 CAD 890,000 900,169 873,455 0.0 CU, Inc. 3.96% Jul 27/45 CAD 763,000 854,629 861,236 0.0 CU, Inc. 3.76% Nov 19/46 CAD 773,000 819,749 849,604 0.0 Brookfield Renewable Partners ULC 4.25% Jan 15/29 CAD 746,000 840,496 848,403 0.0 Bruce Power LP 4.01% Jun 21/29 CAD 755,000 809,469 839,318 0.0 Enbridge Gas, Inc. 4.20% Jun 02/44 CAD 705,000 791,729 818,061 0.0 CU, Inc. 3.55% Nov 22/47 CAD 758,000 798,483 806,482 0.0 Hydro One, Inc. 5.00% Oct 19/46 CAD 602,000 763,118 797,548 0.0 Enbridge Gas, Inc. 4.95% Nov 22/50 CAD 598,000 781,900 796,984 0.0 Hydro One, Inc. 3.72% Nov 18/47 CAD 719,000 735,472 792,662 0.0 Nova Scotia Power, Inc. 5.61% Jun 15/40 CAD 594,000 796,928 787,816 0.0 Hydro One, Inc. 3.91% Feb 23/46 CAD 689,000 736,687 778,604 0.0 Northwestern Hydro Acquisition Co. II LP 3.88% Dec 31/36 CAD 708,000 731,932 776,110 0.0 CU, Inc. 4.09% Sep 02/44 CAD 675,000 781,992 772,733 0.0 Hydro One, Inc. 3.02% Apr 05/29 CAD 720,000 766,249 771,329 0.0 Bruce Power LP 3.00% Jun 21/24 CAD 726,000 733,328 760,216 0.0 Hydro One, Inc. 4.59% Oct 09/43 CAD 614,000 696,180 756,362 0.0 Capital Power Corp. 4.28% Sep 18/24 CAD 697,000 709,029 753,617 0.0 Enbridge Gas, Inc. 4.00% Aug 22/44 CAD 666,000 760,851 752,413 0.0 Algonquin Power Co. 4.09% Feb 17/27 CAD 673,000 736,728 744,028 0.0 North Battleford Power LP 4.96% Dec 31/32 CAD 643,745 732,260 741,182 0.0 Bruce Power LP 4.13% Jun 21/33 CAD 660,000 699,352 737,563 0.0 Enbridge Gas, Inc. 2.37% Aug 09/29 CAD 707,000 734,110 721,621 0.0 Nova Scotia Power, Inc. 3.57% Apr 05/49 CAD 688,000 734,952 721,423 0.0 Capital Power Corp. 4.99% Jan 23/26 CAD 632,000 695,181 711,000 0.0 Brookfield Renewable Partners ULC 3.75% Jun 02/25 CAD 659,000 690,543 709,618 0.0 AltaLink LP 2.75% May 29/26 CAD 657,000 690,579 693,555 0.0 AltaLink LP 4.09% Jun 30/45 CAD 595,000 683,136 692,211 0.0 Hydro One, Inc. 4.17% Jun 06/44 CAD 582,000 642,357 678,315 0.0 Enbridge Gas, Inc. 4.88% Jun 21/41 CAD 543,000 675,048 675,986 0.0 Hydro One, Inc. 1.69% Jan 16/31 CAD 680,000 672,854 643,090 0.0 Hydro One, Inc. 0.71% Jan 16/23 CAD 635,000 635,805 634,797 0.0 Brookfield Renewable Partners ULC 3.33% Aug 13/50 CAD 660,000 659,256 634,557 0.0 Algonquin Power Co. 2.85% Jul 15/31 CAD 625,000 626,263 634,488 0.0 Hydro One Ltd. 1.41% Oct 15/27 CAD 650,000 648,649 631,709 0.0 AltaLink LP 4.92% Sep 17/43 CAD 487,000 616,719 630,670 0.0 Enbridge Gas, Inc. 2.50% Aug 05/26 CAD 599,000 599,934 623,499 0.0 Capital Power Corp. 3.15% Oct 01/32 CAD 630,000 629,052 618,881 0.0 Brookfield Renewable Partners ULC 4.29% Nov 05/49 CAD 548,000 576,873 618,736 0.0 Nova Scotia Power, Inc. 4.50% Jul 20/43 CAD 507,000 584,274 599,796 0.0 Hydro One, Inc. 2.97% Jun 26/25 CAD 557,000 589,834 591,389 0.0 TriSummit Utilities, Inc. 4.26% Dec 05/28 CAD 513,000 559,217 582,111 0.0 AltaLink LP 3.40% Jun 06/24 CAD 540,000 573,257 574,015 0.0 Enbridge Gas, Inc. 3.51% Nov 29/47 CAD 529,000 566,342 558,598 0.0

17 Vanguard Canadian Aggregate Bond Index ETF

Description Currency Par Value Cost ($) Fair Value ($) % of Net Assets Kingston Solar LP 3.57% Jul 31/35 CAD 527,761 511,134 553,094 0.0 Energir, Inc. 2.10% Apr 16/27 CAD 528,000 539,526 537,747 0.0 Hydro One, Inc. 2.71% Feb 28/50 CAD 584,000 553,464 537,484 0.0 Enbridge Gas, Inc. 3.01% Aug 09/49 CAD 555,000 573,821 536,552 0.0 Enbridge Gas, Inc. 3.31% Sep 11/25 CAD 492,000 537,968 528,954 0.0 Hydro One, Inc. 7.35% Jun 03/30 CAD 376,000 538,249 522,076 0.0 Enbridge Gas, Inc. 5.21% Feb 25/36 CAD 416,000 511,955 521,814 0.0 Comber Wind Financial Corp. 5.13% Nov 15/30 CAD 448,511 519,485 508,477 0.0 Alectra, Inc. 1.75% Feb 11/31 CAD 520,000 519,203 500,115 0.0 Algonquin Power Co. 4.60% Jan 29/29 CAD 418,000 428,449 482,669 0.0 Nova Scotia Power, Inc. 3.31% Apr 25/50 CAD 460,000 466,041 460,147 0.0 Arrow Lakes Power Corp. 5.52% Apr 05/41 CAD 327,396 383,660 398,264 0.0 Clover LP 4.22% Jun 30/34 CAD 292,907 302,668 317,414 0.0 Clover LP 4.22% Mar 31/34 CAD 216,717 233,354 234,713 0.0 Hydro One, Inc. 6.59% Apr 22/43 CAD 79,000 117,049 121,561 0.0 Hydro One, Inc. 2.16% Feb 28/30 CAD 100,000 104,852 100,240 0.0 81,363,916 82,625,938 2.5 Total investments 3,373,680,146 3,366,269,193 100.5 Other assets and liabilities (net) (16,019,871) (0.5) Total net assets attributable to holders of redeemable units 3,350,249,322 100.0

Fund-Specific Notes—Concentration Risk As at June 30, 2021 (unaudited), and December 31, 2020 % of net assets attributable to holders of redeemable units

June 30, December 31, Sector Allocation 2021 2020 Fixed income Provincials/Municipals 42.1 42.1 Government 23.9 22.9 Financial 10.7 10.5 Government-related Agencies 10.5 10.6 Industrial 9.9 9.8 Utilities 2.5 2.6 Government-related Supranational 0.9 0.8 Other assets and liabilities (net) (0.5) 0.7 100.0 100.0

18 Vanguard Canadian Corporate Bond Index ETF

Statement of Financial Position As at June 30, 2021 (unaudited), and December 31, 2020

June 30, December 31, 2021 2020 Assets Current assets Investments $158,894,483 $74,318,087 Cash 367,942 172,680 Amounts receivable for redeemable units issued 2,579,330 — Amounts receivable for investments sold 5,092,878 1,080,780 Interest receivable 1,154,164 548,605 Total assets 168,088,797 76,120,152 Liabilities Current liabilities Amounts payable for investments purchased 8,298,428 981,583 Distributions payable 371,543 171,035 Accrued expenses and other liabilities 18,055 4,410 Total liabilities excluding net assets attributable to holders of redeemable units 8,688,026 1,157,028 Total net assets attributable to holders of redeemable units $159,400,771 $74,963,124 Number of redeemable units outstanding (Note 9) 6,180,000 2,810,000 Net assets attributable to holders of redeemable units per unit $25.79 $26.68

Statement of Comprehensive Income For the six months ended June 30, 2021, and June 30, 2020 (unaudited)

2021 2020 Income Net gain (loss) on investments Interest for distribution purposes $1,691,705 $581,488 Net realized gain (loss) on sale of investments (89,464) 86,891 Change in unrealized appreciation/depreciation of investments (2,936,369) 1,209,336 Net gain (loss) on investments (1,334,128) 1,877,715 Other income 64,493 — Total income (net) (1,269,635) 1,877,715 Expenses (Note 10) Management fees 93,980 43,258 Independent Review Committee fees 1,341 1,352 Foreign withholding taxes 433 291 Total expenses 95,754 44,901 Expenses absorbed or waived by manager (1,341) (1,352) Net expenses 94,413 43,549 Increase (decrease) in net assets attributable to holders of redeemable units $(1,364,048) $1,834,166 Weighted average number of redeemable units 4,368,950 1,467,033 Increase (decrease) in net assets attributable to holders of redeemable units per unit $(0.31) $1.25

The accompanying notes are an integral part of the financial statements.

19 Vanguard Canadian Corporate Bond Index ETF

Statement of Changes in Net Assets Attributable to Holders of Redeemable Units For the six months ended June 30, 2021, and June 30, 2020 (unaudited)

2021 2020 Net assets attributable to holders of redeemable units, beginning of period $74,963,124 $36,717,657 Increase (decrease) in net assets attributable to holders of redeemable units $(1,364,048) $1,834,166 Distributions to holders of redeemable units Net investment income (1,617,339) (549,921) Total distributions to holders of redeemable units (1,617,339) (549,921) Redeemable unit transactions Proceeds from issuance of redeemable units 87,419,034 15,660,860 Payment for redeemable units redeemed — (5,126,690) Net redeemable unit transactions 87,419,034 10,534,170 Net assets attributable to holders of redeemable units, end of period $159,400,771 $48,536,072

Statement of Cash Flows For the six months ended June 30, 2021, and June 30, 2020 (unaudited)

2021 2020 Cash flows from (used in) operating activities Increase (decrease) in net assets attributable to holders of redeemable units $(1,364,048) $1,834,166 Adjustments for: Net realized (gain) loss on sale of investments 89,464 (86,891) Change in unrealized appreciation/depreciation of investments 2,936,369 (1,209,336) 1 Purchase of investments (57,398,104) (16,234,278) 2 Proceeds from sale of investments 37,206,830 15,742,822 Change in working capital (591,914) (72,520) Net cash from (used in) operating activities (19,121,403) (26,037) Cash flows from (used in) financing activities 1 Proceeds from issuance of redeemable units 20,733,496 526,332 Distributions to holders of redeemable units, net of reinvested distributions (1,416,831) (513,056) 2 Payment for redeemable units redeemed — (42,887) Net cash from (used in) financing activities 19,316,665 (29,611) Net increase (decrease) in cash during the period $195,262 $(55,648) Cash, beginning of period $172,680 $259,738 Cash, end of period $367,942 $204,090 Supplemental cash flow information relating to operating activities Interest received, net of foreign withholding taxes, if applicable $1,085,713 $507,045

1 Excludes in-kind transactions of $64,106,208 and $15,134,528 for the periods ended June 30, 2021 and 2020. 2 Excludes in-kind transactions of $5,083,803 for the period ended June 30, 2020.

The accompanying notes are an integral part of the financial statements.

20 Vanguard Canadian Corporate Bond Index ETF

Schedule of Investment Portfolio As at June 30, 2021 (unaudited)

Description Currency Par Value Cost ($) Fair Value ($) % of Net Assets Fixed income Financial Bank of Nova Scotia 2.38% May 01/23 CAD 1,310,000 1,349,195 1,345,042 0.8 Bank of Montreal 2.89% Jun 20/23 CAD 1,056,000 1,103,419 1,099,127 0.7 Toronto-Dominion Bank 3.23% Jul 24/24 CAD 982,000 1,051,028 1,045,103 0.7 Toronto-Dominion Bank 3.11% Apr 22/30 CAD 936,000 991,155 986,010 0.6 Bank of Montreal 3.19% Mar 01/28 CAD 811,000 891,465 884,250 0.6 Toronto-Dominion Bank 1.91% Jul 18/23 CAD 791,000 810,677 808,600 0.5 Royal Bank of Canada 2.61% Nov 01/24 CAD 764,000 798,742 796,218 0.5 Canadian Imperial Bank of Commerce 2.95% Jun 19/29 CAD 757,000 793,822 789,263 0.5 Royal Bank of Canada 2.95% May 01/23 CAD 742,000 776,760 771,598 0.5 Royal Bank of Canada 2.35% Jul 02/24 CAD 728,000 753,232 752,031 0.5 Bank of Montreal 2.27% Jul 11/22 CAD 735,000 749,801 748,811 0.5 Toronto-Dominion Bank 2.85% Mar 08/24 CAD 704,000 741,652 736,363 0.5 Royal Bank of Canada 2.33% Jan 28/27 CAD 693,000 715,296 712,390 0.4 Toronto-Dominion Bank 2.50% Dec 02/24 CAD 667,000 693,932 693,153 0.4 Royal Bank of Canada 2.33% Dec 05/23 CAD 638,000 663,523 659,711 0.4 Bank of Montreal 2.85% Mar 06/24 CAD 629,000 658,006 657,349 0.4 Toronto-Dominion Bank 4.86% Mar 04/31 CAD 570,000 654,073 646,448 0.4 Bank of Montreal 2.70% Dec 09/26 CAD 604,000 645,291 640,300 0.4 Bank of Montreal 2.70% Sep 11/24 CAD 603,000 638,358 632,704 0.4 Canadian Imperial Bank of Commerce 2.00% Apr 17/25 CAD 619,000 631,896 631,949 0.4 Bank of Nova Scotia 2.98% Apr 17/23 CAD 606,000 632,445 630,034 0.4 Royal Bank of Canada 1.94% May 01/25 CAD 616,000 631,106 627,753 0.4 Canadian Imperial Bank of Commerce 3.45% Apr 04/28 CAD 601,000 625,937 625,731 0.4 Bank of Nova Scotia 2.16% Feb 03/25 CAD 602,000 620,181 618,471 0.4 Toronto-Dominion Bank 3.06% Jan 26/32 CAD 576,000 607,040 607,357 0.4 Toronto-Dominion Bank 3.01% May 30/23 CAD 579,000 604,301 603,451 0.4 Canadian Imperial Bank of Commerce 3.30% May 26/25 CAD 555,000 602,872 598,595 0.4 Royal Bank of Canada 2.36% Dec 05/22 CAD 573,000 582,787 587,165 0.4 HSBC Bank Canada 2.54% Jan 31/23 CAD 568,000 584,379 583,291 0.4 Bank of Nova Scotia 3.89% Jan 18/29 CAD 547,000 584,107 582,320 0.4 Canadian Imperial Bank of Commerce 2.47% Dec 05/22 CAD 561,000 578,067 575,698 0.4 Toronto-Dominion Bank 1.94% Mar 13/25 CAD 560,000 567,832 571,418 0.4 Bank of Nova Scotia 2.29% Jun 28/24 CAD 539,000 559,976 558,248 0.4 Bank of Montreal 2.28% Jul 29/24 CAD 533,000 549,760 549,592 0.3 Canadian Imperial Bank of Commerce 2.35% Aug 28/24 CAD 519,000 539,011 536,143 0.3 Federation des Caisses Desjardins du Quebec 2.86% May 26/30 CAD 512,000 538,310 533,140 0.3 Bank of America Corp. 2.60% Apr 04/29 CAD 510,000 519,245 521,123 0.3 Bank of Nova Scotia 3.10% Feb 02/28 CAD 479,000 518,243 519,183 0.3 HSBC Bank Canada 1.78% May 20/26 CAD 511,000 514,720 511,864 0.3 Toronto-Dominion Bank 1.13% Dec 09/25 CAD 514,000 510,704 504,671 0.3 Royal Bank of Canada 1.59% May 04/26 CAD 506,000 507,723 504,462 0.3 Bank of Nova Scotia 2.84% Jul 03/29 CAD 484,000 505,668 503,617 0.3 Royal Bank of Canada 3.30% Sep 26/23 CAD 470,000 496,562 493,721 0.3 Wells Fargo & Co. 2.98% May 19/26 CAD 466,000 488,857 489,589 0.3 Bank of Nova Scotia 2.49% Sep 23/24 CAD 470,000 489,796 487,893 0.3 Toronto-Dominion Bank 3.59% Sep 14/28 CAD 461,000 484,351 485,170 0.3 Bank of Nova Scotia 1.40% Nov 01/27 CAD 498,000 492,779 483,324 0.3 Manulife Financial Corp. 3.05% Aug 20/29 CAD 458,000 482,459 480,561 0.3 Bank of Nova Scotia 2.62% Dec 02/26 CAD 442,000 469,494 466,801 0.3 Goldman Sachs Group, Inc. 2.01% Feb 28/29 CAD 468,000 461,452 460,690 0.3 Federation des Caisses Desjardins du Quebec 2.42% Oct 04/24 CAD 442,000 457,331 457,514 0.3 Sun Life Financial, Inc. 2.58% May 10/32 CAD 437,000 451,927 450,525 0.3 Canadian Imperial Bank of Commerce 2.43% Jun 09/23 CAD 435,000 448,324 447,567 0.3 HSBC Bank Canada 2.25% Sep 15/22 CAD 428,000 436,091 435,965 0.3 Canadian Imperial Bank of Commerce 1.96% Apr 21/31 CAD 430,000 431,005 430,030 0.3 Toronto-Dominion Bank 3.22% Jul 25/29 CAD 399,000 420,378 420,135 0.3 OMERS Realty Corp. 3.33% Nov 12/24 CAD 393,000 421,711 419,979 0.3 Toronto-Dominion Bank 1.89% Mar 08/28 CAD 420,000 417,926 419,332 0.3 National Bank of Canada 2.55% Jul 12/24 CAD 396,000 411,487 411,290 0.3 National Australia Bank Ltd. 3.52% Jun 12/30 CAD 391,000 410,562 410,480 0.3 Bank of America Corp. 2.93% Apr 25/25 CAD 391,000 407,682 408,399 0.3 Metropolitan Life Global Funding I 3.39% Apr 09/30 CAD 374,000 402,601 403,209 0.3 Royal Bank of Canada 2.09% Jun 30/30 CAD 397,000 405,120 403,042 0.3 Bank of Montreal 2.08% Jun 17/30 CAD 396,000 402,781 401,892 0.3 Wells Fargo & Co. 2.51% Oct 27/23 CAD 387,000 398,625 399,245 0.3 Bank of Nova Scotia 2.36% Nov 08/22 CAD 388,000 396,419 397,207 0.2

21 Vanguard Canadian Corporate Bond Index ETF

Description Currency Par Value Cost ($) Fair Value ($) % of Net Assets Royal Bank of Canada 1.67% Jan 28/33 CAD 400,000 387,998 387,100 0.2 Royal Bank of Canada 2.88% Dec 23/29 CAD 370,000 387,838 386,261 0.2 Wells Fargo & Co. 3.87% May 21/25 CAD 358,000 387,829 386,189 0.2 Royal Bank of Canada 2.74% Jul 25/29 CAD 371,000 387,280 385,120 0.2 Morgan Stanley 3.00% Feb 07/24 CAD 359,000 377,144 375,536 0.2 Fairfax Financial Holdings Ltd. 3.95% Mar 03/31 CAD 356,000 355,113 368,588 0.2 Royal Bank of Canada 4.93% Jul 16/25 CAD 319,000 374,488 364,888 0.2 Manulife Financial Corp. 3.32% May 09/28 CAD 350,000 366,581 364,290 0.2 National Bank of Canada 1.57% Aug 18/26 CAD 357,000 358,705 357,243 0.2 JPMorgan Chase & Co. 1.90% Mar 05/28 CAD 355,000 353,986 353,832 0.2 Choice Properties REIT 3.53% Jun 11/29 CAD 329,000 350,187 350,842 0.2 Federation des Caisses Desjardins du Quebec 1.99% May 28/31 CAD 350,000 350,419 349,244 0.2 Canadian Imperial Bank of Commerce 1.10% Jan 19/26 CAD 355,000 349,980 346,863 0.2 HSBC Holdings plc 3.20% Dec 05/23 CAD 326,000 342,976 341,628 0.2 Bank of America Corp. 3.52% Mar 24/26 CAD 314,000 338,066 335,939 0.2 Canadian Imperial Bank of Commerce 2.97% Jul 11/23 CAD 321,000 337,929 334,864 0.2 National Bank of Canada 3.18% Feb 01/28 CAD 324,000 335,645 334,653 0.2 Sun Life Financial, Inc. 3.05% Sep 19/28 CAD 319,000 333,151 332,095 0.2 Canadian Imperial Bank of Commerce 2.30% Jul 11/22 CAD 324,000 330,689 330,179 0.2 Manufacturers Life Insurance Co. 3.18% Nov 22/27 CAD 316,000 327,572 326,178 0.2 Bank of Montreal 2.37% Feb 03/25 CAD 314,000 324,754 324,761 0.2 Wells Fargo Canada Corp. 3.46% Jan 24/23 CAD 309,000 324,459 321,706 0.2 Wells Fargo & Co. 2.49% Feb 18/27 CAD 309,000 320,009 316,206 0.2 RioCan REIT 2.36% Mar 10/27 CAD 315,000 314,523 314,458 0.2 First Capital REIT 4.79% Aug 30/24 CAD 288,000 315,752 313,315 0.2 Canadian Imperial Bank of Commerce 3.29% Jan 15/24 CAD 293,000 309,209 309,039 0.2 Canadian Imperial Bank of Commerce 2.01% Jul 21/30 CAD 306,000 312,553 308,993 0.2 Royal Office Finance LP 5.21% Nov 12/37 CAD 242,338 300,019 299,378 0.2 RioCan REIT 1.97% Jun 15/26 CAD 300,000 295,940 296,568 0.2 AIMCo Realty Investors LP 2.71% Jun 01/29 CAD 283,000 294,610 293,703 0.2 Canadian Western Bank 1.82% Dec 16/27 CAD 295,000 291,558 288,218 0.2 H&R REIT 4.07% Jun 16/25 CAD 269,000 284,338 286,324 0.2 Federation des Caisses Desjardins du Quebec 1.09% Jan 21/26 CAD 292,000 288,298 285,091 0.2 Canadian Western Bank 1.57% Sep 14/23 CAD 280,000 282,628 282,568 0.2 Brookfield Asset Management, Inc. 4.82% Jan 28/26 CAD 250,000 282,181 281,457 0.2 Sun Life Financial, Inc. 2.38% Aug 13/29 CAD 273,000 280,649 281,089 0.2 Manulife Finance Delaware LP 5.06% Dec 15/41 CAD 232,000 279,926 280,887 0.2 Bank of Montreal 1.76% Mar 10/26 CAD 275,000 277,201 276,697 0.2 Federation des Caisses Desjardins du Quebec 3.06% Sep 11/23 CAD 263,000 275,599 275,408 0.2 Bank of Montreal 2.88% Sep 17/29 CAD 262,000 274,640 273,132 0.2 Brookfield Asset Management, Inc. 5.04% Mar 08/24 CAD 249,000 273,803 271,522 0.2 Great-West Lifeco, Inc. 2.38% May 14/30 CAD 266,000 271,623 268,495 0.2 SmartCentres REIT 3.65% Dec 11/30 CAD 255,000 268,409 266,457 0.2 Hyundai Capital Canada, Inc. 2.01% May 12/26 CAD 265,000 265,906 265,607 0.2 Granite REIT Holdings LP 2.38% Dec 18/30 CAD 268,000 261,557 260,118 0.2 BCI QuadReal Realty 1.75% Jul 24/30 CAD 267,000 258,831 256,475 0.2 Great-West Lifeco, Inc. 2.98% Jul 08/50 CAD 267,000 260,704 250,414 0.2 Barclays plc 2.17% Jun 23/27 CAD 250,000 249,895 249,757 0.2 Bank of Montreal 4.61% Sep 10/25 CAD 217,000 254,248 245,813 0.2 Manulife Bank of Canada 1.34% Feb 26/26 CAD 245,000 242,609 242,469 0.2 Granite REIT Holdings LP 3.87% Nov 30/23 CAD 223,000 237,767 236,474 0.1 Wells Fargo & Co. 2.57% May 01/26 CAD 228,000 235,403 235,871 0.1 Sun Life Financial, Inc. 2.75% Nov 23/27 CAD 230,000 237,772 235,821 0.1 Brookfield Asset Management, Inc. 5.95% Jun 14/35 CAD 186,000 236,299 235,584 0.1 Manulife Financial Corp. 2.24% May 12/30 CAD 230,000 234,439 235,479 0.1 National Bank of Canada 2.58% Feb 03/25 CAD 220,000 230,822 229,222 0.1 Manulife Bank of Canada 2.84% Jan 12/23 CAD 221,000 229,226 227,992 0.1 Central 1 Credit Union 2.58% Dec 06/23 CAD 215,000 223,736 222,461 0.1 Lloyds Banking Group plc 3.50% Feb 03/25 CAD 208,000 223,531 221,510 0.1 Fairfax Financial Holdings Ltd. 4.23% Jun 14/29 CAD 205,000 216,821 221,433 0.1 Ventas Canada Finance Ltd. 2.80% Apr 12/24 CAD 212,000 216,108 219,564 0.1 Choice Properties REIT 4.18% Mar 08/28 CAD 198,000 219,796 219,295 0.1 Great-West Lifeco, Inc. 3.34% Feb 28/28 CAD 200,000 217,267 216,898 0.1 Allied Properties REIT 1.73% Feb 12/26 CAD 219,000 215,542 215,840 0.1 Choice Properties REIT 2.98% Mar 04/30 CAD 209,000 217,773 212,800 0.1 AIMCo Realty Investors LP 3.04% Jun 01/28 CAD 200,000 216,903 212,732 0.1 Citigroup, Inc. 4.09% Jun 09/25 CAD 193,000 211,869 209,916 0.1 Brookfield Property Finance ULC 3.93% Jan 15/27 CAD 204,000 208,817 209,586 0.1 Scotiabank Capital Trust 5.65% Dec 31/56 CAD 159,000 191,017 209,023 0.1 OMERS Realty Corp. 1.30% Sep 22/23 CAD 203,000 205,332 204,545 0.1 Fairfax Financial Holdings Ltd. 4.70% Dec 16/26 CAD 182,000 198,665 202,002 0.1 Sun Life Financial, Inc. 5.40% May 29/42 CAD 158,000 198,412 201,297 0.1 Bank of Montreal 1.55% May 28/26 CAD 200,000 199,100 198,936 0.1 Bow Centre Street LP 3.80% Jun 13/23 CAD 195,000 195,681 198,048 0.1

22 Vanguard Canadian Corporate Bond Index ETF

Description Currency Par Value Cost ($) Fair Value ($) % of Net Assets OMERS Realty Corp. 3.63% Jun 05/30 CAD 175,000 195,528 194,861 0.1 First Capital REIT 3.75% Jul 12/27 CAD 184,000 192,147 194,212 0.1 National Bank of Canada 2.98% Mar 04/24 CAD 185,000 193,727 193,941 0.1 OMERS Realty Corp. 3.36% Jun 05/23 CAD 180,000 189,993 188,503 0.1 iA Financial Corp. Inc. 3.07% Sep 24/31 CAD 178,000 188,089 187,616 0.1 Laurentian Bank of Canada 1.15% Jun 03/24 CAD 186,000 185,618 184,752 0.1 Manulife Financial Corp. 2.82% May 13/35 CAD 178,000 182,090 181,694 0.1 Fairfax Financial Holdings Ltd. 4.25% Dec 06/27 CAD 165,000 174,681 179,192 0.1 Sun Life Financial, Inc. 2.06% Oct 01/35 CAD 183,000 182,689 176,386 0.1 CI Financial Corp. 3.22% Jul 22/24 CAD 167,000 172,700 174,383 0.1 National Bank of Canada 1.53% Jun 15/26 CAD 175,000 174,206 173,889 0.1 Goldman Sachs Group, Inc. 3.31% Oct 31/25 CAD 163,000 173,314 172,552 0.1 Industrial Alliance Insurance & Financial Services, Inc. 3.30% Sep 15/28 CAD 165,000 173,522 172,432 0.1 Brookfield Property Finance ULC 3.93% Aug 24/25 CAD 163,000 166,572 168,790 0.1 OMERS Realty Corp. 3.24% Oct 04/27 CAD 155,000 169,152 167,478 0.1 Intact Financial Corp. 2.85% Jun 07/27 CAD 155,000 162,935 163,026 0.1 SmartCentres REIT 3.53% Dec 20/29 CAD 153,000 159,145 159,937 0.1 Wells Fargo & Co. 3.18% Feb 08/24 CAD 152,000 158,517 159,457 0.1 OMERS Realty Corp. 2.86% Feb 23/24 CAD 152,000 158,642 158,949 0.1 First Capital REIT 3.60% May 06/26 CAD 151,000 157,895 158,644 0.1 Ivanhoe Cambridge II, Inc. 2.30% Dec 12/24 CAD 153,000 159,150 158,011 0.1 Brookfield Property Finance ULC 4.35% Jul 03/23 CAD 147,000 151,631 152,842 0.1 CI Financial Corp. 3.76% May 26/25 CAD 142,000 150,258 151,393 0.1 Manulife Bank of Canada 2.38% Nov 19/24 CAD 143,000 149,260 148,407 0.1 Intact Financial Corp. 2.95% Dec 16/50 CAD 155,000 149,928 143,462 0.1 Air Lease Corp. 2.63% Dec 05/24 CAD 136,000 135,428 139,458 0.1 HSBC Bank Canada 3.25% Sep 15/23 CAD 130,000 134,436 136,217 0.1 Sagen MI Canada, Inc. 3.26% Mar 05/31 CAD 135,000 134,057 135,926 0.1 Capital City Link General Partnership 4.39% Mar 31/46 CAD 120,740 133,875 134,491 0.1 RioCan REIT 2.58% Feb 12/25 CAD 128,000 128,652 131,384 0.1 New York Life Global Funding 2.00% Apr 17/28 CAD 130,000 131,086 130,623 0.1 Choice Properties REIT 3.56% Sep 09/24 CAD 123,000 130,089 130,526 0.1 Central 1 Credit Union 2.60% Nov 07/22 CAD 126,000 128,625 129,043 0.1 Co-operators Financial Services Ltd. 3.33% May 13/30 CAD 127,000 129,064 127,791 0.1 Dream Industrial REIT 2.06% Jun 17/27 CAD 125,000 124,899 124,493 0.1 TMX Group Ltd. 3.00% Dec 11/24 CAD 115,000 122,011 121,202 0.1 Allied Properties REIT 3.12% Feb 21/30 CAD 119,000 121,171 120,335 0.1 Athene Global Funding 1.25% Apr 09/24 CAD 120,000 119,944 119,452 0.1 Bank of America Corp. 3.30% Apr 24/24 CAD 114,000 116,951 118,787 0.1 Laurentian Bank of Canada 3.00% Sep 12/22 CAD 115,000 117,995 118,045 0.1 Allied Properties REIT 3.13% May 15/28 CAD 114,000 116,173 117,887 0.1 iA Financial Corp. Inc. 2.40% Feb 21/30 CAD 114,000 116,798 117,075 0.1 Bank of America Corp. 3.41% Sep 20/25 CAD 110,000 117,848 116,811 0.1 Equitable Bank 1.77% Sep 21/23 CAD 115,000 115,984 115,980 0.1 Great-West Lifeco, Inc. 6.67% Mar 21/33 CAD 82,000 114,609 113,718 0.1 Allied Properties REIT 3.39% Aug 15/29 CAD 109,000 112,010 113,346 0.1 AIMCo Realty Investors LP 3.37% Jun 01/27 CAD 104,000 113,025 112,347 0.1 Original Wempi, Inc. 4.31% Feb 13/24 CAD 103,000 105,152 106,003 0.1 Intact Financial Corp. 3.69% Mar 24/25 CAD 98,000 107,488 105,661 0.1 Choice Properties LP 3.60% Sep 20/22 CAD 101,000 104,548 103,673 0.1 Canadian Western Bank 2.60% Sep 06/24 CAD 97,000 100,420 100,377 0.1 Metropolitan Life Global Funding I 1.95% Mar 20/28 CAD 100,000 99,725 99,606 0.1 H&R REIT 2.63% Feb 19/27 CAD 97,000 95,469 96,151 0.1 Great-West Lifeco, Inc. 6.00% Nov 16/39 CAD 68,000 93,369 93,660 0.1 Ivanhoe Cambridge II, Inc. 2.91% Jun 27/23 CAD 90,000 94,122 93,337 0.1 CIBC Capital Trust 10.25% Jun 30/2108 CAD 87,000 96,783 92,277 0.1 Plenary Properties LTAP LP 6.29% Jan 31/44 CAD 67,740 92,552 90,783 0.1 Brookfield Asset Management, Inc. 3.80% Mar 16/27 CAD 80,000 86,112 87,304 0.1 Choice Properties REIT 2.85% May 21/27 CAD 83,000 86,226 85,973 0.1 Choice Properties REIT 3.55% Jan 10/25 CAD 80,000 84,288 85,098 0.1 First Capital REIT 3.90% Oct 30/23 CAD 78,000 80,704 82,051 0.1 HCN Canadian Holdings-1 LP 2.95% Jan 15/27 CAD 79,000 80,744 81,803 0.1 Athene Global Funding 2.47% Jun 09/28 CAD 80,000 80,000 80,097 0.1 Intact Financial Corp. 1.21% May 21/24 CAD 80,000 80,000 79,911 0.1 Athene Global Funding 2.10% Sep 24/25 CAD 78,000 78,102 79,002 0.1 SmartCentres REIT 2.31% Dec 18/28 CAD 80,000 78,138 77,662 0.0 Federation des Caisses Desjardins du Quebec 2.39% Aug 25/22 CAD 76,000 77,489 77,629 0.0 RioCan REIT 2.83% Oct 03/22 CAD 75,000 76,785 76,702 0.0 Sagen MI Canada, Inc. 2.96% Mar 01/27 CAD 74,000 75,364 75,620 0.0 IGM Financial, Inc. 3.44% Jan 26/27 CAD 70,000 75,593 75,312 0.0 RioCan REIT 3.21% Sep 29/23 CAD 69,000 70,542 71,680 0.0 Laurentian Bank of Canada 3.45% Jun 27/23 CAD 68,000 71,290 71,129 0.0 Canadian Western Bank 1.93% Apr 16/26 CAD 70,000 70,000 70,149 0.0

23 Vanguard Canadian Corporate Bond Index ETF

Description Currency Par Value Cost ($) Fair Value ($) % of Net Assets H&R REIT 3.37% Jan 30/24 CAD 66,000 67,478 68,466 0.0 Manulife Bank of Canada 1.50% Jun 25/25 CAD 67,000 67,602 67,338 0.0 Canadian Western Bank 2.61% Jan 30/25 CAD 64,000 66,539 66,252 0.0 SEC LP and Arci Ltd. 5.19% Aug 29/33 CAD 61,481 66,030 66,203 0.0 Canadian Western Bank 2.92% Dec 15/22 CAD 64,000 65,740 65,923 0.0 Aviva plc 4.00% Oct 02/30 CAD 59,000 59,323 62,896 0.0 Fairfax Financial Holdings Ltd. 4.95% Mar 03/25 CAD 53,000 58,178 58,706 0.0 Intact Financial Corp. 1.93% Dec 16/30 CAD 61,000 61,234 58,536 0.0 Bank of America Corp. 1.98% Sep 15/27 CAD 55,000 54,954 54,951 0.0 AIMCo Realty Investors LP 2.27% Jun 26/24 CAD 51,000 52,354 52,514 0.0 Allied Properties REIT 3.11% Apr 08/27 CAD 46,000 48,000 47,870 0.0 SmartCentres REIT 3.19% Jun 11/27 CAD 42,000 42,998 43,770 0.0 First Capital REIT 4.32% Jul 31/25 CAD 33,000 35,143 35,690 0.0 BCI QuadReal Realty 1.06% Mar 12/24 CAD 30,000 30,077 29,991 0.0 BCI QuadReal Realty 1.68% Mar 03/25 CAD 29,000 29,219 29,362 0.0 Intact Financial Corp. 2.18% May 18/28 CAD 25,000 25,334 25,191 0.0 BCI QuadReal Realty 1.07% Feb 04/26 CAD 25,000 25,000 24,459 0.0 SmartCentres REIT 1.74% Dec 16/25 CAD 24,000 23,558 23,683 0.0 RioCan REIT 3.29% Feb 12/24 CAD 22,000 22,644 22,990 0.0 Granite REIT Holdings LP 3.06% Jun 04/27 CAD 12,000 12,612 12,611 0.0 70,210,703 70,029,091 44.0 Government Government of Canada 0.25% May 01/23 CAD 1,135,000 1,130,948 1,130,864 0.7 Republic of Austria 5.38% Dec 01/34 CAD 25,000 32,344 33,237 0.0 1,163,292 1,164,101 0.7 Government-related Agencies KfW 0.75% Feb 19/26 CAD 827,000 811,648 812,540 0.5 KfW 5.05% Feb 04/25 CAD 67,000 78,942 76,554 0.1 KfW 4.70% Jun 02/37 CAD 46,000 62,138 59,439 0.0 KfW 4.65% Feb 28/23 CAD 14,000 14,993 14,918 0.0 967,721 963,451 0.6 Government-related Supranational International Bank for Reconstruction & Development 1.80% Jul 26/24 CAD 732,000 755,571 753,140 0.5 Inter-American Development Bank 0.88% Aug 27/27 CAD 701,000 679,351 676,437 0.4 International Bank for Reconstruction & Development 0.88% Sep 28/27 CAD 598,000 584,920 577,058 0.4 International Bank for Reconstruction & Development 1.90% Jan 16/25 CAD 378,000 392,989 390,225 0.2 Asian Development Bank 0.75% Feb 10/26 CAD 375,000 367,645 368,299 0.2 International Bank for Reconstruction & Development 2.25% Jan 17/23 CAD 312,000 319,823 320,605 0.2 International Bank for Reconstruction & Development 2.50% Aug 03/23 CAD 300,000 314,739 311,970 0.2 International Bank for Reconstruction & Development 0.63% Jan 14/26 CAD 315,000 307,479 307,471 0.2 Asian Development Bank 4.65% Feb 16/27 CAD 257,000 308,611 302,065 0.2 Asian Development Bank 1.50% May 04/28 CAD 295,000 293,852 294,670 0.2 International Bank for Reconstruction & Development 0.75% Jul 02/25 CAD 296,000 295,187 292,350 0.2 Inter-American Development Bank 1.00% Jun 29/26 CAD 270,000 266,949 267,848 0.2 Inter-American Development Bank 4.40% Jan 26/26 CAD 232,000 271,861 265,174 0.2 International Finance Corp. 2.38% Jul 19/23 CAD 248,000 257,947 257,156 0.1 International Finance Corp. 1.38% Sep 13/24 CAD 192,000 194,579 195,093 0.1 Inter-American Development Bank 0.75% Oct 15/25 CAD 191,000 188,803 187,965 0.1 International Finance Corp. 0.63% Sep 16/25 CAD 179,000 178,844 175,703 0.1 Inter-American Development Bank 1.70% Oct 10/24 CAD 131,000 135,506 134,302 0.1 EUROFIMA 4.55% Mar 30/27 CAD 25,000 29,096 28,750 0.0 6,143,752 6,106,281 3.8 Industrial Apple, Inc. 2.51% Aug 19/24 CAD 861,000 900,003 897,016 0.6 Walt Disney Co. 3.06% Mar 30/27 CAD 589,000 624,952 623,297 0.4 Bell Canada, Inc. 3.00% Mar 17/31 CAD 565,000 576,089 576,905 0.4 TransCanada PipeLines Ltd. 3.69% Jul 19/23 CAD 550,000 580,373 575,426 0.4 Thomson Reuters Corp. 2.24% May 14/25 CAD 543,000 558,384 556,993 0.3 407 International, Inc. 5.75% Feb 14/36 CAD 434,000 541,061 548,389 0.3 Bell Canada, Inc. 2.70% Feb 27/24 CAD 529,000 549,988 547,716 0.3 TransCanada PipeLines Ltd. 4.55% Nov 15/41 CAD 506,000 551,442 545,139 0.3 Toyota Credit Canada, Inc. 2.31% Oct 23/24 CAD 490,000 507,669 506,180 0.3 Bell Canada, Inc. 4.70% Sep 11/23 CAD 468,000 508,060 500,081 0.3 WSP Global, Inc. 2.41% Apr 19/28 CAD 495,000 499,337 498,643 0.3

24 Vanguard Canadian Corporate Bond Index ETF

Description Currency Par Value Cost ($) Fair Value ($) % of Net Assets Heathrow Funding Ltd. 3.78% Sep 04/32 CAD 466,000 491,047 497,502 0.3 TELUS Corp. 3.35% Apr 01/24 CAD 470,000 497,648 494,092 0.3 Bell Canada, Inc. 3.35% Mar 22/23 CAD 475,000 495,918 491,326 0.3 Saputo, Inc. 2.24% Jun 16/27 CAD 458,000 464,231 460,977 0.3 TELUS Corp. 4.75% Jan 17/45 CAD 410,000 465,860 459,581 0.3 Pembina Pipeline Corp. 3.62% Apr 03/29 CAD 429,000 462,406 458,447 0.3 Verizon Communications, Inc. 2.50% May 16/30 CAD 459,000 467,036 458,394 0.3 TELUS Corp. 3.30% May 02/29 CAD 426,000 451,227 452,386 0.3 Rogers Communications, Inc. 6.68% Nov 04/39 CAD 335,000 464,942 451,077 0.3 TransCanada PipeLines Ltd. 3.00% Sep 18/29 CAD 429,000 445,278 443,462 0.3 Cenovus Energy, Inc. 3.50% Feb 07/28 CAD 405,000 413,705 424,238 0.3 TELUS Corp. 2.75% Jul 08/26 CAD 398,000 415,921 414,143 0.3 AT&T, Inc. 4.00% Nov 25/25 CAD 375,000 410,257 410,839 0.3 Canadian Pacific Railway Co. 3.15% Mar 13/29 CAD 375,000 402,469 401,486 0.3 Rogers Communications, Inc. 6.11% Aug 25/40 CAD 312,000 406,468 398,312 0.2 Enbridge, Inc. 4.57% Mar 11/44 CAD 370,000 396,956 397,302 0.2 AltaGas Ltd. 2.16% Jun 10/25 CAD 385,000 392,975 391,514 0.2 TransCanada PipeLines Ltd. 4.33% Sep 16/47 CAD 371,000 384,441 388,964 0.2 Enbridge, Inc. 3.20% Jun 08/27 CAD 364,000 385,119 384,042 0.2 John Deere Financial, Inc. 1.34% Sep 08/27 CAD 395,000 387,311 383,213 0.2 Bell Canada, Inc. 2.75% Jan 29/25 CAD 361,000 379,761 375,880 0.2 Inter Pipeline Ltd. 2.73% Apr 18/24 CAD 361,000 371,502 372,902 0.2 Greater Toronto Airports Authority 2.75% Oct 17/39 CAD 386,000 380,685 372,756 0.2 bcIMC Realty Corp. 3.00% Mar 31/27 CAD 347,000 375,683 369,590 0.2 North West Redwater Partnership / NWR Financing Co. Ltd. 4.15% Jun 01/33 CAD 333,000 369,337 367,902 0.2 Enbridge, Inc. 3.19% Dec 05/22 CAD 354,000 367,976 365,381 0.2 Shaw Communications, Inc. 3.30% Dec 10/29 CAD 348,000 363,368 363,246 0.2 Bell Canada, Inc. 3.55% Mar 02/26 CAD 338,000 361,519 363,076 0.2 Alimentation Couche-Tard, Inc. 3.60% Jun 02/25 CAD 338,000 365,926 362,106 0.2 Gibson Energy, Inc. 2.45% Jul 14/25 CAD 350,000 358,134 358,082 0.2 North West Redwater Partnership / NWR Financing Co. Ltd. 3.20% Apr 24/26 CAD 334,000 354,252 353,566 0.2 BHP Billiton Finance Ltd. 3.23% May 15/23 CAD 336,000 351,435 349,534 0.2 TransCanada PipeLines Ltd. 4.34% Oct 15/49 CAD 332,000 357,283 349,357 0.2 Bell Canada, Inc. 3.50% Sep 30/50 CAD 368,000 360,387 344,893 0.2 Verizon Communications, Inc. 2.38% Mar 22/28 CAD 340,000 342,931 344,202 0.2 Rogers Communications, Inc. 3.65% Mar 31/27 CAD 318,000 342,367 341,325 0.2 NAV Canada 2.06% May 29/30 CAD 338,000 340,638 337,209 0.2 Bell Canada, Inc. 3.35% Mar 12/25 CAD 311,000 328,585 330,326 0.2 Shaw Communications, Inc. 6.75% Nov 09/39 CAD 245,000 338,501 329,317 0.2 Dollarama, Inc. 1.51% Sep 20/27 CAD 334,000 329,416 323,663 0.2 TELUS Corp. 4.10% Apr 05/51 CAD 315,000 316,682 322,582 0.2 Bell Canada, Inc. 6.10% Mar 16/35 CAD 251,000 323,767 322,236 0.2 Greater Toronto Airports Authority 2.73% Apr 03/29 CAD 305,000 318,679 319,997 0.2 Suncor Energy, Inc. 3.10% May 24/29 CAD 306,000 320,246 319,847 0.2 TransCanada PipeLines Ltd. 4.18% Jul 03/48 CAD 312,000 324,432 319,828 0.2 Anheuser-Busch InBev Finance, Inc. 4.32% May 15/47 CAD 299,000 317,182 319,798 0.2 North West Redwater Partnership / NWR Financing Co. Ltd. 4.05% Jul 22/44 CAD 301,000 322,236 319,099 0.2 Molson Coors International LP 3.44% Jul 15/26 CAD 299,000 316,433 316,632 0.2 United Parcel Service, Inc. 2.13% May 21/24 CAD 305,000 314,062 313,327 0.2 Pembina Pipeline Corp. 4.81% Mar 25/44 CAD 291,000 314,380 312,659 0.2 Pembina Pipeline Corp. 2.56% Jun 01/23 CAD 304,000 313,210 312,068 0.2 North West Redwater Partnership / NWR Financing Co. Ltd. 4.75% Jun 01/37 CAD 266,000 314,716 311,595 0.2 Suncor Energy, Inc. 3.00% Sep 14/26 CAD 294,000 309,019 309,700 0.2 PepsiCo, Inc. 2.15% May 06/24 CAD 299,000 309,449 307,381 0.2 TWDC Enterprises 18 Corp. 2.76% Oct 07/24 CAD 289,000 303,045 302,612 0.2 AT&T, Inc. 5.10% Nov 25/48 CAD 262,000 290,796 302,154 0.2 Enbridge Pipelines, Inc. 5.33% Apr 06/40 CAD 251,000 306,217 299,104 0.2 Waste Management of Canada Corp. 2.60% Sep 23/26 CAD 285,000 298,166 296,731 0.2 TELUS Corp. 3.35% Mar 15/23 CAD 286,000 298,102 295,741 0.2 Bell Canada, Inc. 1.65% Aug 16/27 CAD 303,000 302,662 294,601 0.2 North West Redwater Partnership / NWR Financing Co. Ltd. 4.35% Jan 10/39 CAD 261,000 287,506 289,747 0.2 Mondelez International, Inc. 3.25% Mar 07/25 CAD 271,000 289,013 287,547 0.2 Shaw Communications, Inc. 4.25% Dec 09/49 CAD 279,000 285,432 285,378 0.2 Canadian National Railway Co. 3.60% Feb 08/49 CAD 276,000 301,522 282,130 0.2 55 Ontario School Board Trust 5.90% Jun 02/33 CAD 208,000 281,986 281,287 0.2 Bell Canada, Inc. 4.75% Sep 29/44 CAD 245,000 279,346 277,820 0.2 Loblaw Cos. Ltd. 2.28% May 07/30 CAD 282,000 279,190 277,279 0.2 North West Redwater Partnership / NWR Financing Co. Ltd. 3.70% Feb 23/43 CAD 275,000 280,656 276,840 0.2 VW Credit Canada, Inc. 3.25% Mar 29/23 CAD 265,000 275,315 275,306 0.2

25 Vanguard Canadian Corporate Bond Index ETF

Description Currency Par Value Cost ($) Fair Value ($) % of Net Assets Honda Canada Finance, Inc. 3.44% May 23/25 CAD 254,000 274,883 273,246 0.2 Pembina Pipeline Corp. 2.99% Jan 22/24 CAD 261,000 271,127 271,158 0.2 Honda Canada Finance, Inc. 3.18% Aug 28/23 CAD 259,000 271,149 270,608 0.2 McDonald's Corp. 3.13% Mar 04/25 CAD 255,000 270,508 270,448 0.2 Crosslinx Transit Solutions GP 4.65% Sep 30/46 CAD 243,000 272,587 266,338 0.2 TransCanada PipeLines Ltd. 3.80% Apr 05/27 CAD 245,000 265,357 266,256 0.2 Stantec, Inc. 2.05% Oct 08/27 CAD 268,000 264,438 264,004 0.2 AT&T, Inc. 2.85% May 25/24 CAD 251,000 261,230 261,632 0.2 ARC Resources Ltd. 3.47% Mar 10/31 CAD 256,000 257,788 261,573 0.2 TransCanada PipeLines Ltd. 4.35% Jun 06/46 CAD 249,000 270,193 261,570 0.2 Pembina Pipeline Corp. 4.75% Mar 26/48 CAD 243,000 262,569 260,600 0.2 North West Redwater Partnership / NWR Financing Co. Ltd. 2.80% Jun 01/27 CAD 250,000 257,153 259,765 0.2 Sobeys, Inc. 4.70% Aug 08/23 CAD 243,000 262,331 258,858 0.2 Heathrow Funding Ltd. 3.73% Apr 13/35 CAD 245,000 250,428 255,562 0.2 Honda Canada Finance, Inc. 2.50% Jun 04/24 CAD 246,000 255,957 254,898 0.2 407 International, Inc. 3.65% Sep 08/44 CAD 237,000 258,112 254,623 0.2 Shaw Communications, Inc. 4.40% Nov 02/28 CAD 225,000 256,491 252,351 0.2 Inter Pipeline Ltd. 4.23% Jun 01/27 CAD 229,000 245,977 251,483 0.2 Honda Canada Finance, Inc. 2.54% Mar 01/23 CAD 244,000 250,508 250,817 0.2 Westcoast Energy, Inc. 3.77% Dec 08/25 CAD 230,000 251,847 249,246 0.2 Greater Toronto Airports Authority 5.30% Feb 25/41 CAD 187,000 254,135 248,134 0.2 TELUS Corp. 2.05% Oct 07/30 CAD 260,000 256,950 246,774 0.2 Cenovus Energy, Inc. 3.55% Mar 12/25 CAD 233,000 239,669 246,269 0.2 Canadian Natural Resources Ltd. 3.55% Jun 03/24 CAD 232,000 244,223 245,310 0.2 Enbridge, Inc. 3.95% Nov 19/24 CAD 227,000 245,155 244,238 0.2 Keyera Corp. 3.96% May 29/30 CAD 225,000 238,304 240,977 0.2 Loblaw Cos. Ltd. 4.49% Dec 11/28 CAD 209,000 242,979 240,037 0.2 Greater Toronto Airports Authority 3.26% Jun 01/37 CAD 230,000 245,611 239,759 0.2 VW Credit Canada, Inc. 3.70% Nov 14/22 CAD 230,000 240,242 238,913 0.1 Enbridge Pipelines, Inc. 4.33% Feb 22/49 CAD 223,000 240,816 238,391 0.1 Suncor Energy, Inc. 5.39% Mar 26/37 CAD 197,000 234,412 236,337 0.1 Suncor Energy, Inc. 5.00% Apr 09/30 CAD 201,000 225,441 236,223 0.1 Heathrow Funding Ltd. 3.25% May 21/27 CAD 223,000 235,637 234,844 0.1 Teranet Holdings LP 3.54% Jun 11/25 CAD 221,000 232,683 234,782 0.1 TransCanada PipeLines Ltd. 3.30% Jul 17/25 CAD 221,000 235,727 234,771 0.1 Bell Canada, Inc. 4.35% Dec 18/45 CAD 216,000 238,774 232,643 0.1 Pembina Pipeline Corp. 4.67% May 28/50 CAD 214,000 232,928 227,696 0.1 North West Redwater Partnership / NWR Financing Co. Ltd. 3.65% Jun 01/35 CAD 217,000 231,234 227,271 0.1 North West Redwater Partnership / NWR Financing Co. Ltd. 3.20% Jul 22/24 CAD 216,000 229,077 227,163 0.1 407 International, Inc. 5.96% Dec 03/35 CAD 167,000 231,746 225,869 0.1 TELUS Corp. 3.95% Feb 16/50 CAD 226,000 235,957 225,763 0.1 407 International, Inc. 3.98% Sep 11/52 CAD 197,000 229,534 225,664 0.1 Suncor Energy, Inc. 3.95% Mar 04/51 CAD 224,000 216,444 224,529 0.1 Toyota Credit Canada, Inc. 2.62% Oct 11/22 CAD 216,000 222,689 221,264 0.1 Metro, Inc. 4.27% Dec 04/47 CAD 202,000 225,656 221,255 0.1 Saputo, Inc. 3.60% Aug 14/25 CAD 205,000 221,116 220,289 0.1 Enbridge Pipelines, Inc. 3.45% Sep 29/25 CAD 205,000 221,894 220,119 0.1 Bell Canada, Inc. 4.45% Feb 27/47 CAD 201,000 224,029 220,005 0.1 Enbridge, Inc. 2.99% Oct 03/29 CAD 212,000 218,487 218,580 0.1 TELUS Corp. 4.70% Mar 06/48 CAD 195,000 226,508 218,476 0.1 Bell Canada, Inc. 2.50% May 14/30 CAD 218,000 220,405 215,807 0.1 407 International, Inc. 2.84% Mar 07/50 CAD 227,000 226,423 212,152 0.1 TELUS Corp. 2.35% Jan 27/28 CAD 210,000 218,346 212,012 0.1 Canadian National Railway Co. 3.05% Feb 08/50 CAD 227,000 225,813 210,000 0.1 Bell Canada, Inc. 4.05% Mar 17/51 CAD 202,000 206,026 208,799 0.1 Pembina Pipeline Corp. 4.75% Apr 30/43 CAD 196,000 210,048 208,691 0.1 Reliance LP 2.67% Aug 01/28 CAD 203,000 203,678 205,091 0.1 bcIMC Realty Corp. 2.84% Jun 03/25 CAD 194,000 204,257 204,208 0.1 Aeroports de Montreal 5.67% Oct 16/37 CAD 152,000 207,252 204,075 0.1 General Motors Financial of Canada Ltd. 5.95% May 14/24 CAD 179,000 201,044 201,293 0.1 North West Redwater Partnership / NWR Financing Co. Ltd. 2.00% Dec 01/26 CAD 200,000 199,624 200,136 0.1 Bell Canada, Inc. 6.17% Feb 26/37 CAD 148,000 199,879 192,918 0.1 TELUS Corp. 4.85% Apr 05/44 CAD 169,000 191,678 191,526 0.1 General Motors Financial of Canada Ltd. 1.75% Apr 15/26 CAD 192,000 189,616 190,034 0.1 John Deere Canada Funding, Inc. 2.70% Jan 17/23 CAD 184,000 190,308 189,586 0.1 Nissan Canada, Inc. 1.63% Mar 18/24 CAD 190,000 190,040 189,320 0.1 Aeroports de Montreal 3.03% Apr 21/50 CAD 193,000 191,744 189,271 0.1 AltaGas Ltd. 2.61% Dec 16/22 CAD 184,000 189,210 188,328 0.1 Aeroports de Montreal 5.17% Sep 17/35 CAD 149,000 190,079 187,692 0.1 Canadian National Railway Co. 3.60% Jul 31/48 CAD 183,000 193,877 187,383 0.1 TELUS Corp. 4.40% Apr 01/43 CAD 175,000 195,084 186,883 0.1

26 Vanguard Canadian Corporate Bond Index ETF

Description Currency Par Value Cost ($) Fair Value ($) % of Net Assets Pembina Pipeline Corp. 3.71% Aug 11/26 CAD 173,000 185,242 185,961 0.1 Enbridge, Inc. 3.94% Jun 30/23 CAD 177,000 187,432 185,629 0.1 Rogers Communications, Inc. 4.00% Mar 13/24 CAD 174,000 187,477 185,098 0.1 Cenovus Energy, Inc. 3.60% Mar 10/27 CAD 175,000 179,157 184,954 0.1 Pembina Pipeline Corp. 3.77% Oct 24/22 CAD 178,000 186,481 184,401 0.1 AT&T, Inc. 4.85% May 25/47 CAD 165,000 181,318 182,970 0.1 Greater Toronto Airports Authority 1.54% May 03/28 CAD 185,000 181,195 180,715 0.1 Enbridge, Inc. 4.24% Aug 27/42 CAD 176,000 187,098 180,495 0.1 Canadian Natural Resources Ltd. 2.50% Jan 17/28 CAD 176,000 177,116 178,114 0.1 Daimler Canada Finance, Inc. 1.65% Sep 22/25 CAD 177,000 178,668 177,182 0.1 Honda Canada Finance, Inc. 1.65% Feb 25/28 CAD 179,000 176,257 175,545 0.1 Reliance LP 3.84% Mar 15/25 CAD 163,000 174,829 174,816 0.1 North West Redwater Partnership / NWR Financing Co. Ltd. 4.25% Jun 01/29 CAD 155,000 175,091 174,673 0.1 Pembina Pipeline Corp. 4.74% Jan 21/47 CAD 163,000 173,772 174,498 0.1 Daimler Canada Finance, Inc. 2.54% Aug 21/23 CAD 169,000 174,030 174,075 0.1 John Deere Financial, Inc. 2.46% Apr 04/24 CAD 166,000 172,776 171,999 0.1 Toyota Credit Canada, Inc. 2.70% Jan 25/23 CAD 167,000 172,172 171,943 0.1 VW Credit Canada, Inc. 1.50% Sep 23/25 CAD 171,000 171,847 170,133 0.1 Shaw Communications, Inc. 2.90% Dec 09/30 CAD 167,000 171,883 166,983 0.1 Caterpillar Financial Services Ltd. 2.09% Sep 12/22 CAD 163,000 166,576 166,030 0.1 407 International, Inc. 3.83% May 11/46 CAD 150,000 170,342 165,726 0.1 TELUS Corp. 3.75% Jan 17/25 CAD 153,000 162,910 164,261 0.1 Verizon Communications, Inc. 4.05% Mar 22/51 CAD 155,000 158,168 162,411 0.1 Bell Canada, Inc. 3.80% Aug 21/28 CAD 146,000 157,529 160,109 0.1 Penske Truck Leasing Canada, Inc. 2.85% Dec 07/22 CAD 156,000 160,531 160,079 0.1 Bell Canada, Inc. 2.90% Aug 12/26 CAD 149,000 155,443 156,016 0.1 Saputo, Inc. 2.88% Nov 19/24 CAD 149,000 156,174 155,973 0.1 BMW Canada, Inc. 0.63% Jan 16/23 CAD 155,000 154,778 154,589 0.1 Loblaw Cos. Ltd. 3.92% Jun 10/24 CAD 142,000 154,208 152,495 0.1 TransCanada PipeLines Ltd. 2.97% Jun 09/31 CAD 150,000 149,949 151,580 0.1 TELUS Corp. 3.15% Feb 19/30 CAD 145,000 153,076 151,505 0.1 Inter Pipeline Ltd. 4.64% May 30/44 CAD 144,000 149,098 150,657 0.1 AltaGas Ltd. 4.12% Apr 07/26 CAD 136,000 148,779 148,679 0.1 Shaw Communications, Inc. 4.35% Jan 31/24 CAD 138,000 149,220 147,574 0.1 Enbridge Pipelines, Inc. 3.52% Feb 22/29 CAD 135,000 147,268 146,117 0.1 Canadian Natural Resources Ltd. 3.42% Dec 01/26 CAD 135,000 141,956 143,776 0.1 Enbridge Pipelines, Inc. 3.00% Aug 10/26 CAD 136,000 142,507 143,492 0.1 AltaGas Ltd. 4.50% Aug 15/44 CAD 134,000 143,018 143,432 0.1 407 International, Inc. 2.59% May 25/32 CAD 141,000 142,869 143,049 0.1 Pembina Pipeline Corp. 4.02% Mar 27/28 CAD 130,000 142,153 142,321 0.1 SSL Finance, Inc. 4.10% Oct 31/45 CAD 128,825 140,939 140,967 0.1 AltaGas Ltd. 1.23% Mar 18/24 CAD 140,000 139,969 139,425 0.1 Bell Canada, Inc. 3.60% Sep 29/27 CAD 129,000 137,262 139,395 0.1 Metro, Inc. 5.97% Oct 15/35 CAD 109,000 141,916 138,886 0.1 Enbridge Pipelines, Inc. 4.55% Aug 17/43 CAD 127,000 143,563 138,642 0.1 Canadian Tire Corp. Ltd. 3.17% Jul 06/23 CAD 132,000 136,623 137,170 0.1 Cogeco Communications, Inc. 4.18% May 26/23 CAD 130,000 136,621 136,334 0.1 Cameco Corp. 2.95% Oct 21/27 CAD 132,000 134,598 134,961 0.1 Rogers Communications, Inc. 3.25% May 01/29 CAD 127,000 131,203 132,808 0.1 Enbridge Pipelines, Inc. 4.55% Sep 29/45 CAD 121,000 134,133 132,788 0.1 Alimentation Couche-Tard, Inc. 3.06% Jul 26/24 CAD 126,000 131,229 132,058 0.1 Canadian Pacific Railway Co. 3.05% Mar 09/50 CAD 139,000 131,957 131,251 0.1 Metro, Inc. 5.03% Dec 01/44 CAD 109,000 133,552 130,311 0.1 VW Credit Canada, Inc. 2.85% Sep 26/24 CAD 123,000 127,379 128,553 0.1 Vancouver Airport Authority 2.80% Sep 21/50 CAD 136,000 130,798 127,923 0.1 Enbridge Pipelines, Inc. 2.82% May 12/31 CAD 125,000 125,467 126,335 0.1 407 International, Inc. 3.60% May 21/47 CAD 118,000 131,782 126,173 0.1 Sysco Canada, Inc. 3.65% Apr 25/25 CAD 117,000 123,007 125,061 0.1 Pembina Pipeline Corp. 3.31% Feb 01/30 CAD 120,000 124,812 124,852 0.1 Canadian Natural Resources Ltd. 4.85% May 30/47 CAD 110,000 122,473 124,348 0.1 General Motors Financial of Canada Ltd. 3.25% Nov 07/23 CAD 118,000 121,405 123,397 0.1 Saputo, Inc. 1.42% Jun 19/26 CAD 126,000 126,466 123,152 0.1 Toyota Credit Canada, Inc. 2.64% Mar 27/24 CAD 118,000 124,180 122,747 0.1 TELUS Corp. 4.40% Jan 29/46 CAD 113,000 128,102 120,813 0.1 Loblaw Cos. Ltd. 4.86% Sep 12/23 CAD 112,000 122,072 120,178 0.1 Toyota Credit Canada, Inc. 3.04% Jul 12/23 CAD 115,000 119,618 119,800 0.1 Daimler Canada Finance, Inc. 3.30% Aug 16/22 CAD 115,000 118,666 118,266 0.1 Northern Courier Pipeline LP 3.37% Jun 30/42 CAD 113,482 118,154 116,654 0.1 Brookfield Property Finance ULC 4.30% Mar 01/24 CAD 111,000 114,026 116,148 0.1 BP Capital Markets plc 3.47% May 15/25 CAD 108,000 116,365 116,043 0.1 Greater Toronto Airports Authority 6.98% Oct 15/32 CAD 81,000 116,442 113,838 0.1 Honda Canada Finance, Inc. 1.34% Mar 17/26 CAD 115,000 114,237 113,505 0.1 John Deere Financial, Inc. 2.41% Jan 14/25 CAD 109,000 113,667 112,999 0.1

27 Vanguard Canadian Corporate Bond Index ETF

Description Currency Par Value Cost ($) Fair Value ($) % of Net Assets Molson Coors International LP 2.84% Jul 15/23 CAD 109,000 111,783 112,283 0.1 Loblaw Cos. Ltd. 5.90% Jan 18/36 CAD 87,000 111,096 109,552 0.1 Magna International, Inc. 3.10% Dec 15/22 CAD 105,000 108,342 108,256 0.1 SGTP Highway Bypass LP 4.11% Jan 31/45 CAD 100,165 110,798 108,167 0.1 Toyota Credit Canada, Inc. 1.18% Feb 23/26 CAD 110,000 107,931 108,079 0.1 Metro, Inc. 3.39% Dec 06/27 CAD 97,000 105,421 104,585 0.1 Toromont Industries Ltd. 3.84% Oct 27/27 CAD 96,000 103,955 104,503 0.1 Daimler Canada Finance, Inc. 2.97% Mar 13/24 CAD 100,000 104,378 104,498 0.1 Suncor Energy, Inc. 4.34% Sep 13/46 CAD 98,000 105,782 104,173 0.1 Transurban Finance Co. Pty Ltd. 4.56% Nov 14/28 CAD 93,000 100,197 103,350 0.1 Canadian Natural Resources Ltd. 1.45% Nov 16/23 CAD 102,000 103,041 102,605 0.1 Pembina Pipeline Corp. 4.54% Apr 03/49 CAD 98,000 105,218 102,086 0.1 Rogers Communications, Inc. 6.56% Mar 22/41 CAD 76,000 104,801 101,982 0.1 Inter Pipeline Ltd. 3.17% Mar 24/25 CAD 96,000 99,942 100,678 0.1 Dollarama, Inc. 2.44% Jul 09/29 CAD 100,000 100,000 100,351 0.1 TELUS Corp. 2.85% Nov 13/31 CAD 100,000 99,752 100,303 0.1 Canadian National Railway Co. 3.00% Feb 08/29 CAD 94,000 98,592 99,275 0.1 Canadian National Railway Co. 2.80% Sep 22/25 CAD 94,000 100,691 98,838 0.1 Nouvelle Autoroute 30 Financement, Inc. 4.12% Jun 30/42 CAD 89,646 101,644 98,506 0.1 407 International, Inc. 4.19% Apr 25/42 CAD 84,000 99,348 96,751 0.1 Pembina Pipeline Corp. 3.54% Feb 03/25 CAD 91,000 95,523 96,590 0.1 Shaw Communications, Inc. 3.80% Nov 02/23 CAD 91,000 96,609 96,143 0.1 Toyota Credit Canada, Inc. 2.11% Feb 26/25 CAD 92,000 94,155 94,551 0.1 Enbridge, Inc. 2.44% Jun 02/25 CAD 91,000 93,737 93,829 0.1 Canadian National Railway Co. 3.95% Sep 22/45 CAD 86,000 102,805 93,265 0.1 Gibson Energy, Inc. 3.60% Sep 17/29 CAD 86,000 90,127 91,238 0.1 Dollarama, Inc. 1.87% Jul 08/26 CAD 90,000 90,000 90,065 0.1 Reliance LP 2.68% Dec 01/27 CAD 86,000 87,354 87,246 0.1 Canadian National Railway Co. 3.60% Aug 01/47 CAD 85,000 94,242 86,972 0.1 ARC Resources Ltd. 2.35% Mar 10/26 CAD 86,000 86,058 86,732 0.1 Cameco Corp. 4.19% Jun 24/24 CAD 80,000 83,868 85,463 0.1 Vancouver Airport Authority 2.87% Oct 18/49 CAD 89,000 88,252 85,043 0.1 Teranet Holdings LP 5.75% Dec 17/40 CAD 71,000 78,996 84,391 0.1 Enbridge Pipelines, Inc. 4.20% May 12/51 CAD 80,000 81,125 83,982 0.1 Shaw Communications, Inc. 3.80% Mar 01/27 CAD 77,000 82,836 83,122 0.1 Canadian National Railway Co. 3.20% Jul 31/28 CAD 77,000 82,298 82,418 0.1 AltaGas Ltd. 3.84% Jan 15/25 CAD 76,000 81,382 81,504 0.1 TELUS Corp. 3.63% Mar 01/28 CAD 75,000 79,653 81,275 0.1 Canadian Pacific Railway Co. 6.45% Nov 17/39 CAD 57,000 83,716 81,216 0.1 AltaGas Ltd. 3.57% Jun 12/23 CAD 78,000 82,084 81,205 0.1 Heathrow Funding Ltd. 3.40% Mar 08/30 CAD 77,000 79,052 81,176 0.1 Aeroports de Montreal 3.44% Apr 26/51 CAD 75,000 76,494 79,527 0.1 Keyera Corp. 3.93% Jun 21/28 CAD 73,000 79,038 78,999 0.0 NAV Canada 2.92% Sep 29/51 CAD 80,000 83,979 78,965 0.0 407 International, Inc. 1.80% May 22/25 CAD 77,000 78,923 78,496 0.0 407 International, Inc. 4.45% Nov 15/41 CAD 66,000 79,915 78,487 0.0 TransCanada PipeLines Ltd. 8.05% Feb 17/39 CAD 52,000 80,451 78,356 0.0 407 International, Inc. 2.47% Sep 08/22 CAD 75,000 76,513 76,258 0.0 407 International, Inc. 3.67% Mar 08/49 CAD 70,000 80,492 75,967 0.0 Bell Canada, Inc. 2.90% Sep 10/29 CAD 73,000 74,512 75,192 0.0 Reliance LP 3.75% Mar 15/26 CAD 70,000 74,120 75,034 0.0 AltaGas Ltd. 2.08% May 30/28 CAD 75,000 75,766 73,359 0.0 Metro, Inc. 3.41% Feb 28/50 CAD 77,000 76,326 72,981 0.0 407 International, Inc. 3.72% May 11/48 CAD 66,000 74,597 72,211 0.0 Inter Pipeline Ltd. 3.48% Dec 16/26 CAD 67,000 68,441 71,108 0.0 Original Wempi, Inc. 4.06% Feb 13/24 CAD 69,007 70,020 70,592 0.0 Vancouver Airport Fuel Facilities Corp. 2.17% Jun 23/25 CAD 67,000 67,573 66,671 0.0 Inter Pipeline Ltd. 2.61% Sep 13/23 CAD 63,000 64,020 64,742 0.0 Westcoast Energy, Inc. 3.43% Sep 12/24 CAD 61,000 65,516 64,691 0.0 TransCanada PipeLines Ltd. 3.39% Mar 15/28 CAD 60,000 63,815 63,899 0.0 Dollarama, Inc. 3.55% Nov 06/23 CAD 59,000 62,014 62,135 0.0 Greater Toronto Airports Authority 7.05% Jun 12/30 CAD 43,000 59,880 58,997 0.0 VW Credit Canada, Inc. 1.20% Sep 25/23 CAD 54,000 53,989 54,093 0.0 Gibson Energy, Inc. 2.85% Jul 14/27 CAD 50,000 51,328 51,369 0.0 Bell Canada, Inc. 7.85% Apr 02/31 CAD 37,000 51,077 51,352 0.0 Bell Canada, Inc. 7.30% Feb 23/32 CAD 38,000 52,593 51,301 0.0 John Deere Financial, Inc. 2.58% Oct 16/26 CAD 49,000 52,895 51,161 0.0 North West Redwater Partnership / NWR Financing Co. Ltd. 3.75% Jun 01/51 CAD 50,000 50,393 50,393 0.0 Bell Canada, Inc. 2.20% May 29/28 CAD 50,000 49,939 49,956 0.0 University of Ottawa 2.64% Feb 13/60 CAD 57,000 54,816 49,763 0.0 Ottawa MacDonald-Cartier International Airport Authority 3.93% Jun 09/45 CAD 47,819 52,231 49,735 0.0 Hospital Infrastructure Partners NOH Partnership 5.44% Jan 31/45 CAD 40,034 49,529 49,127 0.0 Enbridge Pipelines, Inc. 4.13% Aug 09/46 CAD 47,000 51,241 48,583 0.0

28 Vanguard Canadian Corporate Bond Index ETF

Description Currency Par Value Cost ($) Fair Value ($) % of Net Assets 407 International, Inc. 2.43% May 04/27 CAD 45,000 46,704 46,635 0.0 NAV Canada 0.94% Feb 09/26 CAD 45,000 44,066 43,919 0.0 BMW Canada, Inc. 2.41% Nov 27/23 CAD 41,000 42,098 42,303 0.0 TELUS Corp. 3.75% Mar 10/26 CAD 38,000 38,618 41,203 0.0 Verizon Communications, Inc. 3.63% May 16/50 CAD 37,000 38,946 36,068 0.0 Pembina Pipeline Corp. 4.24% Jun 15/27 CAD 31,000 33,877 34,200 0.0 Saputo, Inc. 2.83% Nov 21/23 CAD 30,000 30,715 31,088 0.0 Federated Co-operatives Ltd. 3.92% Jun 17/25 CAD 29,000 30,066 30,641 0.0 TELUS Corp. 5.15% Nov 26/43 CAD 26,000 27,485 30,522 0.0 Plenary Health Care Partnerships Humber LP 4.90% May 31/39 CAD 25,662 29,820 30,184 0.0 Nouvelle Autoroute 30 Financement, Inc. 4.11% Mar 31/42 CAD 26,975 28,002 29,675 0.0 TransEd Partners GP 3.95% Sep 30/50 CAD 28,745 28,899 29,591 0.0 407 International, Inc. 3.14% Mar 06/30 CAD 26,000 28,704 28,063 0.0 Hospital for Sick Children 3.42% Dec 07/57 CAD 26,000 29,117 27,700 0.0 CCL Industries, Inc. 3.86% Apr 13/28 CAD 25,000 26,445 27,159 0.0 John Deere Financial, Inc. 1.63% Apr 09/26 CAD 20,000 19,979 19,992 0.0 Metro, Inc. 2.68% Dec 05/22 CAD 18,000 18,392 18,437 0.0 64,898,856 64,507,970 40.5 Utilities Brookfield Infrastructure Finance ULC 3.41% Oct 09/29 CAD 414,000 435,912 436,215 0.3 Hydro One, Inc. 1.69% Jan 16/31 CAD 448,000 439,656 423,683 0.3 Hydro One, Inc. 3.63% Jun 25/49 CAD 341,000 376,527 371,612 0.2 CU, Inc. 4.72% Sep 09/43 CAD 283,000 357,733 350,815 0.2 Hydro One, Inc. 4.89% Mar 13/37 CAD 263,000 326,743 327,758 0.2 CU, Inc. 4.09% Sep 02/44 CAD 282,000 331,566 322,831 0.2 Hydro One, Inc. 5.36% May 20/36 CAD 248,000 324,901 321,048 0.2 Emera, Inc. 2.90% Jun 16/23 CAD 308,000 319,886 318,648 0.2 AltaLink LP 3.99% Jun 30/42 CAD 270,000 308,554 307,182 0.2 Brookfield Renewable Partners ULC 3.38% Jan 15/30 CAD 282,000 305,718 303,700 0.2 Bruce Power LP 4.75% Jun 21/49 CAD 247,000 294,194 297,719 0.2 Capital Power Corp. 3.15% Oct 01/32 CAD 299,000 292,587 293,723 0.2 National Grid Electricity Transmission plc 2.30% Jun 22/29 CAD 285,000 284,785 284,387 0.2 Hydro One Ltd. 1.41% Oct 15/27 CAD 280,000 272,766 272,121 0.2 Alberta Powerline LP 4.07% Dec 01/53 CAD 232,240 256,109 259,111 0.2 Bruce Power LP 3.97% Jun 23/26 CAD 228,000 250,684 249,671 0.2 Alectra, Inc. 2.49% May 17/27 CAD 235,000 249,227 244,510 0.2 Hydro One, Inc. 2.77% Feb 24/26 CAD 229,000 242,546 241,524 0.1 Enbridge Gas, Inc. 3.65% Apr 01/50 CAD 216,000 235,277 234,382 0.1 Algonquin Power Co. 4.09% Feb 17/27 CAD 200,000 222,298 221,108 0.1 Nova Scotia Power, Inc. 5.61% Jun 15/40 CAD 166,000 220,029 220,164 0.1 AltaLink LP 3.40% Jun 06/24 CAD 207,000 222,008 220,039 0.1 Hydro One, Inc. 2.54% Apr 05/24 CAD 210,000 218,776 218,228 0.1 Hydro One, Inc. 4.17% Jun 06/44 CAD 182,000 210,220 212,119 0.1 Brookfield Infrastructure Finance ULC 3.32% Feb 22/24 CAD 195,000 205,251 204,775 0.1 AltaLink LP 4.92% Sep 17/43 CAD 158,000 204,098 204,612 0.1 Hydro One, Inc. 5.49% Jul 16/40 CAD 148,000 206,920 199,245 0.1 CU, Inc. 4.54% Oct 24/41 CAD 165,000 195,889 198,556 0.1 Bruce Power LP 3.00% Jun 21/24 CAD 187,000 196,417 195,813 0.1 Hydro One, Inc. 2.71% Feb 28/50 CAD 205,000 194,760 188,672 0.1 CU, Inc. 3.96% Jul 27/45 CAD 163,000 187,805 183,986 0.1 Enbridge Gas, Inc. 3.31% Sep 11/25 CAD 171,000 187,851 183,844 0.1 Fortis, Inc. 2.18% May 15/28 CAD 180,000 180,197 181,159 0.1 Enbridge Gas, Inc. 4.20% Jun 02/44 CAD 154,000 186,506 178,697 0.1 Hydro One, Inc. 6.59% Apr 22/43 CAD 115,000 177,803 176,956 0.1 Hydro One, Inc. 6.93% Jun 01/32 CAD 126,000 177,966 176,534 0.1 CU, Inc. 2.96% Sep 07/49 CAD 183,000 183,668 175,616 0.1 Brookfield Renewable Partners ULC 3.75% Jun 02/25 CAD 162,000 175,776 174,443 0.1 Brookfield Infrastructure Finance ULC 4.19% Sep 11/28 CAD 156,000 172,523 173,152 0.1 Hydro One, Inc. 2.97% Jun 26/25 CAD 163,000 174,945 173,064 0.1 CU, Inc. 3.95% Nov 23/48 CAD 152,000 177,882 172,848 0.1 AltaLink LP 2.75% May 29/26 CAD 163,000 172,598 172,069 0.1 Northwestern Hydro Acquisition Co. III LP 3.94% Dec 31/38 CAD 156,000 175,786 166,460 0.1 Enbridge Gas, Inc. 6.05% Sep 02/38 CAD 117,000 167,120 161,651 0.1 Brookfield Renewable Partners ULC 3.63% Jan 15/27 CAD 147,000 159,134 159,668 0.1 Fortis, Inc. 2.85% Dec 12/23 CAD 148,000 155,145 154,007 0.1 Nova Scotia Power, Inc. 4.50% Jul 20/43 CAD 130,000 154,719 153,794 0.1 Brookfield Renewable Partners ULC 4.29% Nov 05/49 CAD 135,000 151,699 152,426 0.1 Hydro One, Inc. 4.59% Oct 09/43 CAD 123,000 158,342 151,519 0.1 CU, Inc. 3.55% Nov 22/47 CAD 142,000 154,815 151,082 0.1 Enbridge Gas, Inc. 2.90% Apr 01/30 CAD 141,000 151,797 148,466 0.1 CU, Inc. 3.76% Nov 19/46 CAD 133,000 151,232 146,180 0.1 Energir, Inc. 2.10% Apr 16/27 CAD 142,000 145,508 144,621 0.1 CU, Inc. 3.81% Sep 10/42 CAD 129,000 147,475 141,371 0.1

29 Vanguard Canadian Corporate Bond Index ETF

Description Currency Par Value Cost ($) Fair Value ($) % of Net Assets Brookfield Infrastructure Finance ULC 2.86% Sep 01/32 CAD 143,000 144,958 140,342 0.1 Enbridge Gas, Inc. 5.21% Feb 25/36 CAD 111,000 144,587 139,234 0.1 Enbridge Gas, Inc. 3.01% Aug 09/49 CAD 143,000 140,339 138,247 0.1 Hydro One, Inc. 3.72% Nov 18/47 CAD 125,000 142,570 137,806 0.1 Hydro One, Inc. 4.39% Sep 26/41 CAD 115,000 139,221 137,140 0.1 Algonquin Power Co. 4.60% Jan 29/29 CAD 118,000 135,269 136,256 0.1 Hydro One, Inc. 3.79% Jul 31/62 CAD 120,000 142,399 134,614 0.1 Enbridge Gas, Inc. 3.51% Nov 29/47 CAD 127,000 140,599 134,106 0.1 Enbridge Gas, Inc. 4.95% Nov 22/50 CAD 99,000 135,476 131,942 0.1 AltaLink LP 3.72% Dec 03/46 CAD 116,000 127,438 128,428 0.1 Hydro One, Inc. 1.76% Feb 28/25 CAD 126,000 128,715 128,229 0.1 TriSummit Utilities, Inc. 4.26% Dec 05/28 CAD 112,000 129,731 127,089 0.1 AltaLink LP 4.09% Jun 30/45 CAD 106,000 131,952 123,318 0.1 Bruce Power LP 4.00% Jun 21/30 CAD 109,000 122,908 120,873 0.1 Bruce Power LP 4.13% Jun 21/33 CAD 107,000 117,658 119,575 0.1 Capital Power Corp. 4.99% Jan 23/26 CAD 103,000 114,508 115,875 0.1 Enbridge Gas, Inc. 4.88% Jun 21/41 CAD 92,000 116,675 114,532 0.1 Enbridge Gas, Inc. 2.50% Aug 05/26 CAD 110,000 114,106 114,499 0.1 Hydro One, Inc. 0.71% Jan 16/23 CAD 112,000 112,336 111,964 0.1 Alberta Powerline LP 4.07% Mar 01/54 CAD 96,936 108,946 107,961 0.1 Brookfield Renewable Partners ULC 3.33% Aug 13/50 CAD 110,000 106,251 105,759 0.1 Nova Scotia Power, Inc. 3.57% Apr 05/49 CAD 100,000 109,231 104,858 0.1 Enbridge Gas, Inc. 2.37% Aug 09/29 CAD 102,000 103,891 104,109 0.1 AltaLink LP 3.67% Nov 06/23 CAD 93,000 100,835 98,919 0.1 Bruce Power LP 4.01% Jun 21/29 CAD 88,000 97,091 97,828 0.1 Capital Power Corp. 4.28% Sep 18/24 CAD 85,000 91,043 91,905 0.1 Hydro One, Inc. 3.91% Feb 23/46 CAD 78,000 92,410 88,144 0.1 North Battleford Power LP 4.96% Dec 31/32 CAD 72,963 83,179 84,006 0.1 Alectra, Inc. 1.75% Feb 11/31 CAD 80,000 76,695 76,941 0.0 Hydro One, Inc. 5.00% Oct 19/46 CAD 54,000 70,722 71,541 0.0 Enbridge Gas, Inc. 4.00% Aug 22/44 CAD 55,000 64,966 62,136 0.0 Hydro One, Inc. 6.03% Mar 03/39 CAD 44,000 62,129 61,641 0.0 Hydro One, Inc. 2.16% Feb 28/30 CAD 60,000 61,578 60,144 0.0 Hydro One, Inc. 6.35% Jan 31/34 CAD 42,000 59,196 57,664 0.0 Brookfield Renewable Partners ULC 4.25% Jan 15/29 CAD 47,000 53,821 53,452 0.0 Northwestern Hydro Acquisition Co. II LP 3.88% Dec 31/36 CAD 37,000 38,712 40,559 0.0 Nova Scotia Power, Inc. 3.31% Apr 25/50 CAD 40,000 38,060 40,013 0.0 Kingston Solar LP 3.57% Jul 31/35 CAD 37,928 38,326 39,748 0.0 Comber Wind Financial Corp. 5.13% Nov 15/30 CAD 27,512 30,515 31,190 0.0 Arrow Lakes Power Corp. 5.52% Apr 05/41 CAD 23,194 28,073 28,215 0.0 Clover LP 4.22% Jun 30/34 CAD 25,998 27,951 28,173 0.0 Algonquin Power Co. 2.85% Jul 15/31 CAD 25,000 25,001 25,380 0.0 Clover LP 4.22% Mar 31/34 CAD 22,812 23,955 24,707 0.0 Hydro One, Inc. 7.35% Jun 03/30 CAD 5,000 6,932 6,943 0.0 16,311,283 16,123,589 10.1 Total investments 159,695,607 158,894,483 99.7 Other assets and liabilities (net) 506,288 0.3 Total net assets attributable to holders of redeemable units 159,400,771 100.0

Fund-Specific Notes—Concentration Risk As at June 30, 2021 (unaudited), and December 31, 2020 % of net assets attributable to holders of redeemable units

June 30, December 31, Sector Allocation 2021 2020 Fixed income Financial 44.0 43.7 Industrial 40.5 40.6 Utilities 10.1 11.0 Government-related Supranational 3.8 3.1 Government 0.7 0.2 Government-related Agencies 0.6 0.5 Other assets and liabilities (net) 0.3 0.9 100.0 100.0

30 Vanguard Canadian Government Bond Index ETF

Statement of Financial Position As at June 30, 2021 (unaudited), and December 31, 2020

June 30, December 31, 2021 2020 Assets Current assets Investments $49,463,222 $73,221,968 Cash 250,749 351,244 Amounts receivable for investments sold 1,777,997 1,301,332 Interest receivable 181,538 271,001 Total assets 51,673,506 75,145,545 Liabilities Current liabilities Amounts payable for investments purchased 2,603,604 1,504,699 Distributions payable 114,995 125,790 Accrued expenses and other liabilities 4,477 4,226 Total liabilities excluding net assets attributable to holders of redeemable units 2,723,076 1,634,715 Total net assets attributable to holders of redeemable units $48,950,430 $73,510,830 Number of redeemable units outstanding (Note 9) 1,900,000 2,700,000 Net assets attributable to holders of redeemable units per unit $25.76 $27.23

Statement of Comprehensive Income For the six months ended June 30, 2021, and June 30, 2020 (unaudited)

2021 2020 Income Net gain (loss) on investments Interest for distribution purposes $707,089 $586,038 Net realized gain (loss) on sale of investments (1,000,094) 957,932 Change in unrealized appreciation/depreciation of investments (2,900,258) 2,337,368 Net gain (loss) on investments (3,193,263) 3,881,338 Other income — 16,450 Total income (net) (3,193,263) 3,897,788 Expenses (Note 10) Management fees 47,943 55,930 Independent Review Committee fees 1,341 1,352 Total expenses 49,284 57,282 Expenses absorbed or waived by manager (1,341) (1,352) Net expenses 47,943 55,930 Increase (decrease) in net assets attributable to holders of redeemable units $(3,241,206) $3,841,858 Weighted average number of redeemable units 2,203,867 1,700,549 Increase (decrease) in net assets attributable to holders of redeemable units per unit $(1.47) $2.26

The accompanying notes are an integral part of the financial statements.

31 Vanguard Canadian Government Bond Index ETF

Statement of Changes in Net Assets Attributable to Holders of Redeemable Units For the six months ended June 30, 2021, and June 30, 2020 (unaudited)

2021 2020 Net assets attributable to holders of redeemable units, beginning of period $73,510,830 $41,081,452 Increase (decrease) in net assets attributable to holders of redeemable units $(3,241,206) $3,841,858 Distributions to holders of redeemable units Net investment income (716,254) (545,703) Total distributions to holders of redeemable units (716,254) (545,703) Redeemable unit transactions Proceeds from issuance of redeemable units 5,157,660 40,241,690 Payment for redeemable units redeemed (25,760,600) (18,706,390) Net redeemable unit transactions (20,602,940) 21,535,300 Net assets attributable to holders of redeemable units, end of period $48,950,430 $65,912,907

Statement of Cash Flows For the six months ended June 30, 2021, and June 30, 2020 (unaudited)

2021 2020 Cash flows from (used in) operating activities Increase (decrease) in net assets attributable to holders of redeemable units $(3,241,206) $3,841,858 Adjustments for: Net realized (gain) loss on sale of investments 1,000,094 (957,932) Change in unrealized appreciation/depreciation of investments 2,900,258 (2,337,368) 1 Purchase of investments (5,993,290) (20,794,464) 2 Proceeds from sale of investments 5,881,047 10,087,003 Change in working capital 89,714 (75,814) Net cash from (used in) operating activities 636,617 (10,236,717) Cash flows from (used in) financing activities 1 Proceeds from issuance of redeemable units 62,493 11,170,726 Distributions to holders of redeemable units, net of reinvested distributions (727,049) (501,175) 2 Payment for redeemable units redeemed (72,556) (91,437) Net cash from (used in) financing activities (737,112) 10,578,114 Net increase (decrease) in cash during the period $(100,495) $341,397 Cash, beginning of period $351,244 $5,391 Cash, end of period $250,749 $346,788 Supplemental cash flow information relating to operating activities Interest received, net of foreign withholding taxes, if applicable $796,552 $507,766

1 Excludes in-kind transactions of $5,095,167 and $29,070,964 for the periods ended June 30, 2021 and 2020. 2 Excludes in-kind transactions of $25,688,044 and $18,614,953 for the periods ended June 30, 2021 and 2020.

The accompanying notes are an integral part of the financial statements.

32 Vanguard Canadian Government Bond Index ETF

Schedule of Investment Portfolio As at June 30, 2021 (unaudited)

Description Currency Par Value Cost ($) Fair Value ($) % of Net Assets Fixed income Government Government of Canada 0.25% May 01/23 CAD 2,010,000 2,004,355 2,002,676 4.1 Government of Canada 2.00% Dec 01/51 CAD 1,242,000 1,426,480 1,287,153 2.6 Government of Canada 1.25% Jun 01/30 CAD 1,050,000 1,093,357 1,042,220 2.1 Government of Canada 1.50% Sep 01/24 CAD 1,004,000 1,036,105 1,029,172 2.1 Government of Canada 0.25% Feb 01/23 CAD 903,000 902,792 901,030 1.8 Government of Canada 0.50% Sep 01/25 CAD 909,000 912,915 894,731 1.8 Government of Canada 2.00% Sep 01/23 CAD 703,000 735,181 725,521 1.5 Government of Canada 5.75% Jun 01/29 CAD 536,000 763,646 717,153 1.5 Government of Canada 0.50% Dec 01/30 CAD 731,000 690,421 673,860 1.4 Government of Canada 0.25% Mar 01/26 CAD 605,000 588,632 584,954 1.2 Government of Canada 1.50% Jun 01/23 CAD 497,000 502,414 506,951 1.0 Government of Canada 1.00% Sep 01/22 CAD 469,000 467,587 472,761 1.0 Government of Canada 5.75% Jun 01/33 CAD 309,000 474,949 450,127 0.9 Government of Canada 1.75% Mar 01/23 CAD 395,000 406,895 403,807 0.8 Government of Canada 0.25% Nov 01/22 CAD 392,000 391,808 391,476 0.8 Government of Canada 1.50% Jun 01/31 CAD 376,000 374,108 378,067 0.8 Government of Canada 2.75% Dec 01/48 CAD 285,000 375,561 341,945 0.7 Government of Canada 1.50% Jun 01/26 CAD 316,000 328,269 323,812 0.7 Government of Canada 3.50% Dec 01/45 CAD 238,000 344,749 318,050 0.7 Government of Canada 4.00% Jun 01/41 CAD 217,000 320,710 300,400 0.6 Government of Canada 0.25% Aug 01/22 CAD 271,000 270,861 270,910 0.6 Government of Canada 1.25% Mar 01/25 CAD 257,000 264,640 261,381 0.5 Government of Canada 2.25% Jun 01/29 CAD 240,000 270,605 258,354 0.5 Government of Canada 2.75% Dec 01/64 CAD 198,000 273,060 247,896 0.5 Government of Canada 2.25% Jun 01/25 CAD 226,000 232,584 238,661 0.5 Government of Canada 5.00% Jun 01/37 CAD 112,000 177,156 165,052 0.3 Government of Canada 1.00% Jun 01/27 CAD 160,000 161,321 159,192 0.3 Government of Canada 2.50% Jun 01/24 CAD 128,000 136,211 134,844 0.3 Government of Canada 9.00% Jun 01/25 CAD 49,000 69,268 64,416 0.1 Government of Canada 2.25% Mar 01/24 CAD 20,000 20,897 20,871 0.1 16,017,537 15,567,443 31.8 Government-related Agencies Canada Housing Trust No. 1 2.90% Jun 15/24 CAD 526,000 561,241 558,646 1.1 Canada Housing Trust No. 1 2.40% Dec 15/22 CAD 538,000 556,168 553,673 1.1 Canada Housing Trust No. 1 1.95% Dec 15/25 CAD 430,000 454,137 445,269 0.9 Canada Housing Trust No. 1 2.55% Dec 15/23 CAD 362,000 380,931 378,932 0.8 Canada Housing Trust No. 1 2.35% Sep 15/23 CAD 360,000 378,166 374,003 0.8 Canada Housing Trust No. 1 1.25% Jun 15/26 CAD 372,000 371,982 372,358 0.8 Canada Housing Trust No. 1 0.95% Jun 15/25 CAD 349,000 352,056 348,073 0.7 Canada Housing Trust No. 1 2.35% Jun 15/23 CAD 336,000 349,648 347,984 0.7 Canada Housing Trust No. 1 1.80% Dec 15/24 CAD 328,000 336,052 338,110 0.7 Canada Housing Trust No. 1 1.75% Jun 15/30 CAD 329,000 345,769 330,070 0.7 Canada Housing Trust No. 1 2.10% Sep 15/29 CAD 268,000 287,530 277,682 0.6 Canada Housing Trust No. 1 2.65% Dec 15/28 CAD 257,000 282,279 276,873 0.6 Canada Housing Trust No. 1 1.90% Sep 15/26 CAD 242,000 247,712 249,603 0.5 Canada Housing Trust No. 1 1.10% Mar 15/31 CAD 223,000 220,493 209,675 0.4 Canada Housing Trust No. 1 2.55% Mar 15/25 CAD 175,000 187,763 185,144 0.4 Canada Housing Trust No. 1 2.25% Dec 15/25 CAD 145,000 154,108 152,034 0.3 Canada Housing Trust No. 1 2.35% Jun 15/27 CAD 139,000 148,200 146,762 0.3 Canada Housing Trust No. 1 3.15% Sep 15/23 CAD 130,000 137,304 137,323 0.3 Canada Housing Trust No. 1 1.90% Mar 15/31 CAD 90,000 90,396 91,022 0.2 Canada Housing Trust No. 1 1.40% Mar 15/31 CAD 78,000 75,733 75,411 0.2 Canada Housing Trust No. 1 2.35% Mar 15/28 CAD 71,000 77,196 75,037 0.2 PSP Capital, Inc. 3.29% Apr 04/24 CAD 56,000 60,445 59,814 0.1 PSP Capital, Inc. 2.09% Nov 22/23 CAD 56,000 57,976 57,879 0.1 Maritime Link Financing Trust 3.50% Dec 01/52 CAD 44,585 52,961 51,160 0.1 PSP Capital, Inc. 3.00% Nov 05/25 CAD 46,000 49,797 49,546 0.1 PSP Capital, Inc. 2.05% Jan 15/30 CAD 48,000 49,178 48,967 0.1 CPPIB Capital, Inc. 3.00% Jun 15/28 CAD 44,000 48,660 48,206 0.1 Muskrat Falls / Labrador Transmission Assets Funding Trust 3.86% Dec 01/48 CAD 38,000 51,168 48,163 0.1 Labrador-Island Link Funding Trust 3.85% Dec 01/53 CAD 37,000 49,624 47,928 0.1 PSP Capital, Inc. 0.90% Jun 15/26 CAD 44,000 43,859 43,186 0.1 Labrador-Island Link Funding Trust 3.76% Jun 01/33 CAD 34,000 40,518 39,995 0.1

33 Vanguard Canadian Government Bond Index ETF

Description Currency Par Value Cost ($) Fair Value ($) % of Net Assets Muskrat Falls / Labrador Transmission Assets Funding Trust 3.63% Jun 01/29 CAD 33,000 38,498 37,678 0.1 CPPIB Capital, Inc. 0.75% Jun 15/24 CAD 33,000 33,000 32,885 0.1 Canada Post Corp. 4.36% Jul 16/40 CAD 21,000 28,312 27,398 0.1 Muskrat Falls / Labrador Transmission Assets Funding Trust 3.83% Jun 01/37 CAD 21,000 25,839 25,489 0.1 Export Development Canada 1.80% Sep 01/22 CAD 20,000 20,496 20,332 0.0 OPB Finance Trust 2.98% Jan 25/27 CAD 18,000 19,484 19,259 0.0 OPB Finance Trust 3.89% Jul 04/42 CAD 13,000 15,572 15,233 0.0 CPPIB Capital, Inc. 0.63% Sep 01/22 CAD 15,000 15,002 15,045 0.0 Labrador-Island Link Funding Trust 3.86% Dec 01/45 CAD 12,000 16,079 15,000 0.0 PSP Capital, Inc. 1.50% Mar 15/28 CAD 15,000 14,943 14,946 0.0 Canada Housing Trust No. 1 2.65% Mar 15/28 CAD 13,000 13,912 13,986 0.0 Export Development Canada 1.65% Jul 31/24 CAD 13,000 13,056 13,334 0.0 Cordelio Amalco GP I 4.09% Sep 30/34 CAD 12,013 13,298 13,066 0.0 Cordelio Amalco GP I 4.09% Jun 30/34 CAD 12,000 12,748 13,032 0.0 Canada Post Corp. 4.08% Jul 16/25 CAD 9,000 10,268 10,060 0.0 6,789,557 6,705,271 13.7 Provincials/Municipals Province of Ontario 3.45% Jun 02/45 CAD 542,000 660,372 626,284 1.3 Province of Quebec 3.10% Dec 01/51 CAD 503,000 602,016 556,576 1.1 Province of Ontario 4.65% Jun 02/41 CAD 388,000 539,425 519,186 1.1 Province of Ontario 2.90% Dec 02/46 CAD 489,000 533,957 516,012 1.1 Province of Ontario 2.60% Jun 02/25 CAD 471,000 502,426 497,964 1.0 Province of Ontario 2.90% Jun 02/49 CAD 467,000 534,765 492,595 1.0 Province of Ontario 2.65% Dec 02/50 CAD 482,000 529,313 483,551 1.0 Province of Quebec 3.50% Dec 01/48 CAD 393,000 487,369 464,526 1.0 Province of Ontario 2.80% Jun 02/48 CAD 416,000 452,933 431,061 0.9 Province of Ontario 4.70% Jun 02/37 CAD 328,000 441,777 429,143 0.9 Province of Quebec 5.00% Dec 01/41 CAD 296,000 430,344 416,615 0.9 Province of Ontario 3.50% Jun 02/43 CAD 355,000 421,405 412,623 0.8 Province of Ontario 4.60% Jun 02/39 CAD 313,000 421,549 410,629 0.8 Province of Ontario 2.85% Jun 02/23 CAD 378,000 397,219 394,536 0.8 Province of Ontario 3.50% Jun 02/24 CAD 366,000 398,407 394,040 0.8 Province of Quebec 4.25% Dec 01/43 CAD 293,000 395,492 381,170 0.8 Hydro-Quebec 4.00% Feb 15/55 CAD 286,000 400,452 372,751 0.8 Province of Quebec 3.50% Dec 01/45 CAD 315,000 385,452 370,020 0.8 Province of Ontario 2.05% Jun 02/30 CAD 350,000 371,454 353,870 0.7 Province of Ontario 5.60% Jun 02/35 CAD 253,000 365,283 352,512 0.7 Province of Quebec 1.90% Sep 01/30 CAD 344,000 362,139 344,379 0.7 Province of Ontario 2.90% Jun 02/28 CAD 312,000 342,924 337,890 0.7 Province of Ontario 2.70% Jun 02/29 CAD 306,000 327,461 326,708 0.7 Province of Alberta 3.10% Jun 01/50 CAD 299,000 336,650 320,986 0.7 Hydro-Quebec 5.00% Feb 15/50 CAD 214,000 336,852 316,332 0.6 Province of Ontario 1.90% Dec 02/51 CAD 354,000 310,285 299,615 0.6 Province of Ontario 5.85% Mar 08/33 CAD 217,000 318,870 298,643 0.6 Province of Ontario 2.40% Jun 02/26 CAD 278,000 289,392 292,417 0.6 Province of Quebec 2.75% Sep 01/25 CAD 266,000 282,890 283,796 0.6 Province of Quebec 1.50% Sep 01/31 CAD 288,000 276,940 274,838 0.6 Province of Quebec 3.75% Sep 01/24 CAD 250,000 277,042 272,553 0.6 Province of Ontario 1.75% Sep 08/25 CAD 262,000 271,809 268,398 0.6 Province of Alberta 2.05% Jun 01/30 CAD 250,000 255,103 251,870 0.5 Province of Ontario 6.50% Mar 08/29 CAD 184,000 250,218 246,176 0.5 Province of Quebec 2.75% Sep 01/28 CAD 225,000 241,906 242,344 0.5 Province of Quebec 2.75% Sep 01/27 CAD 223,000 241,975 239,762 0.5 Province of Ontario 1.85% Feb 01/27 CAD 226,000 237,412 231,394 0.5 Province of Quebec 5.00% Dec 01/38 CAD 168,000 238,801 230,435 0.5 Province of Alberta 3.05% Dec 01/48 CAD 214,000 239,130 228,088 0.5 Hydro-Quebec 5.00% Feb 15/45 CAD 156,000 232,638 223,692 0.5 Province of Alberta 2.55% Jun 01/27 CAD 204,000 213,595 215,954 0.4 Province of Quebec 3.00% Sep 01/23 CAD 205,000 216,708 215,616 0.4 Province of Quebec 2.50% Sep 01/26 CAD 200,000 213,465 211,830 0.4 Province of Ontario 7.60% Jun 02/27 CAD 157,000 216,381 211,106 0.4 Province of Ontario 6.20% Jun 02/31 CAD 153,000 219,525 210,755 0.4 Province of Quebec 2.30% Sep 01/29 CAD 199,000 209,068 207,238 0.4 Province of Ontario 2.60% Jun 02/27 CAD 195,000 210,419 207,222 0.4 Hydro-Quebec 6.00% Feb 15/40 CAD 131,000 208,709 200,041 0.4 Province of British Columbia 2.95% Jun 18/50 CAD 184,000 217,833 198,455 0.4 Province of Ontario 1.35% Dec 02/30 CAD 202,000 198,984 191,121 0.4 Province of Alberta 3.30% Dec 01/46 CAD 166,000 186,690 184,366 0.4 Hydro-Quebec 6.50% Feb 15/35 CAD 123,000 187,910 183,715 0.4 Province of Quebec 5.75% Dec 01/36 CAD 125,000 186,909 180,768 0.4 Province of British Columbia 6.35% Jun 18/31 CAD 128,000 184,703 179,023 0.4

34 Vanguard Canadian Government Bond Index ETF

Description Currency Par Value Cost ($) Fair Value ($) % of Net Assets Province of Ontario 2.15% Jun 02/31 CAD 176,000 177,211 177,672 0.4 Province of Quebec 6.25% Jun 01/32 CAD 126,000 186,074 176,926 0.4 Province of Quebec 3.50% Dec 01/22 CAD 154,000 163,504 160,683 0.3 Province of British Columbia 2.20% Jun 18/30 CAD 156,000 165,716 160,458 0.3 Province of British Columbia 2.80% Jun 18/48 CAD 150,000 167,848 157,523 0.3 Province of British Columbia 3.20% Jun 18/44 CAD 138,000 160,560 155,258 0.3 Province of British Columbia 4.30% Jun 18/42 CAD 109,000 144,016 142,119 0.3 Province of Alberta 2.20% Jun 01/26 CAD 135,000 139,628 140,672 0.3 Province of British Columbia 2.85% Jun 18/25 CAD 126,000 135,924 134,796 0.3 Province of Alberta 2.90% Dec 01/28 CAD 123,000 135,757 132,907 0.3 Province of Ontario 2.60% Sep 08/23 CAD 125,000 130,622 130,371 0.3 Province of Ontario 2.30% Sep 08/24 CAD 124,000 129,251 129,479 0.3 Province of British Columbia 2.55% Jun 18/27 CAD 117,000 126,402 124,446 0.3 Province of Alberta 2.35% Jun 01/25 CAD 114,000 117,117 119,428 0.2 Province of Manitoba 2.45% Jun 02/25 CAD 107,000 112,916 112,508 0.2 Province of Manitoba 2.55% Jun 02/23 CAD 107,000 110,871 111,061 0.2 Province of British Columbia 4.95% Jun 18/40 CAD 80,000 115,694 111,005 0.2 Province of Alberta 1.65% Jun 01/31 CAD 114,000 110,267 109,568 0.2 Province of British Columbia 5.70% Jun 18/29 CAD 81,000 108,095 104,671 0.2 Province of Quebec 6.00% Oct 01/29 CAD 77,000 105,254 101,689 0.2 Province of Alberta 3.45% Dec 01/43 CAD 87,000 102,774 99,015 0.2 Province of Ontario 8.50% Dec 02/25 CAD 74,000 101,081 96,995 0.2 Province of Saskatchewan 2.75% Dec 02/46 CAD 93,000 97,535 95,579 0.2 Province of Newfoundland 3.30% Oct 17/46 CAD 87,000 95,740 92,394 0.2 Province of Alberta 2.95% Jun 01/52 CAD 86,000 88,329 89,860 0.2 Province of Ontario 7.50% Feb 07/24 CAD 75,000 90,686 87,792 0.2 Hydro-Quebec 6.00% Aug 15/31 CAD 64,000 91,873 87,174 0.2 Province of British Columbia 2.30% Jun 18/26 CAD 82,000 85,231 86,127 0.2 Province of Manitoba 3.20% Mar 05/50 CAD 77,000 88,660 85,279 0.2 Province of Ontario 6.20% Dec 02/41 CAD 53,000 85,996 83,525 0.2 Province of Ontario 2.65% Feb 05/25 CAD 76,000 81,177 80,466 0.2 Province of Saskatchewan 3.30% Jun 02/48 CAD 71,000 77,932 80,353 0.2 Province of British Columbia 2.95% Dec 18/28 CAD 70,000 75,383 76,301 0.2 Province of Alberta 3.10% Jun 01/24 CAD 71,000 76,200 75,615 0.2 Province of Saskatchewan 3.10% Jun 02/50 CAD 67,000 77,143 73,257 0.2 Financement-Quebec 5.25% Jun 01/34 CAD 55,000 75,904 73,039 0.2 Province of Quebec 9.38% Jan 16/23 CAD 64,000 77,526 72,684 0.2 Province of Nova Scotia 3.15% Dec 01/51 CAD 65,000 75,462 71,589 0.2 Province of British Columbia 4.90% Jun 18/48 CAD 49,000 73,719 71,408 0.1 Province of British Columbia 4.70% Jun 18/37 CAD 54,000 73,925 71,293 0.1 Province of Manitoba 3.40% Sep 05/48 CAD 62,000 72,134 71,120 0.1 Province of New Brunswick 4.80% Jun 03/41 CAD 52,000 71,803 70,116 0.1 Province of Manitoba 2.85% Sep 05/46 CAD 66,000 68,009 68,679 0.1 Province of New Brunswick 3.55% Jun 03/43 CAD 59,000 69,373 68,287 0.1 Province of Alberta 3.90% Dec 01/33 CAD 57,000 69,045 66,841 0.1 Hydro-Quebec 2.10% Feb 15/60 CAD 77,000 73,490 66,734 0.1 Province of Ontario 1.95% Jan 27/23 CAD 65,000 66,430 66,515 0.1 Province of British Columbia 2.70% Dec 18/22 CAD 64,000 66,618 66,125 0.1 Province of Manitoba 4.05% Sep 05/45 CAD 52,000 67,649 65,446 0.1 Province of Manitoba 3.00% Jun 02/28 CAD 60,000 65,424 65,323 0.1 Province of Manitoba 2.75% Jun 02/29 CAD 60,000 64,732 64,240 0.1 Province of New Brunswick 2.85% Jun 02/23 CAD 61,000 64,400 63,646 0.1 Province of Newfoundland 2.65% Oct 17/50 CAD 68,000 67,195 63,395 0.1 Province of Manitoba 3.35% Mar 05/43 CAD 56,000 64,397 63,380 0.1 Province of Saskatchewan 3.90% Jun 02/45 CAD 50,000 63,308 61,760 0.1 Province of Nova Scotia 4.70% Jun 01/41 CAD 46,000 65,932 61,704 0.1 Province of Manitoba 2.55% Jun 02/26 CAD 58,000 59,951 61,407 0.1 Province of New Brunswick 2.35% Aug 14/27 CAD 58,000 60,604 60,728 0.1 Province of Alberta 2.90% Sep 20/29 CAD 54,000 56,539 58,206 0.1 City of Montreal 6.00% Jun 01/43 CAD 37,000 58,200 57,110 0.1 Ontario Electricity Financial Corp. 8.25% Jun 22/26 CAD 43,000 59,466 57,028 0.1 Province of Ontario 9.50% Jul 13/22 CAD 52,000 61,118 56,844 0.1 Province of Alberta 2.55% Dec 15/22 CAD 55,000 57,063 56,681 0.1 Province of Saskatchewan 2.55% Jun 02/26 CAD 51,000 53,742 54,020 0.1 Province of Saskatchewan 4.75% Jun 01/40 CAD 40,000 54,902 53,762 0.1 Province of Quebec 8.50% Apr 01/26 CAD 40,000 55,634 53,145 0.1 Province of Newfoundland 3.00% Jun 02/26 CAD 49,000 52,960 52,697 0.1 Province of Saskatchewan 3.05% Dec 02/28 CAD 48,000 51,251 52,465 0.1 Province of Nova Scotia 3.50% Jun 02/62 CAD 43,000 56,163 51,857 0.1 Province of New Brunswick 3.05% Aug 14/50 CAD 48,000 54,361 51,300 0.1 Province of Alberta 3.50% Jun 01/31 CAD 45,000 50,955 50,796 0.1 Province of New Brunswick 3.10% Aug 14/48 CAD 47,000 51,935 50,746 0.1 Municipal Finance Authority of British Columbia 1.10% Jun 01/25 CAD 50,000 50,160 49,991 0.1 Province of Newfoundland 4.65% Oct 17/40 CAD 39,000 51,297 49,697 0.1

35 Vanguard Canadian Government Bond Index ETF

Description Currency Par Value Cost ($) Fair Value ($) % of Net Assets Province of Manitoba 4.70% Mar 05/50 CAD 35,000 51,462 49,164 0.1 Province of Quebec 9.50% Mar 30/23 CAD 42,000 50,012 48,516 0.1 Province of Manitoba 4.60% Mar 05/38 CAD 37,000 49,797 48,011 0.1 Province of Saskatchewan 3.75% Mar 05/54 CAD 38,000 48,974 47,199 0.1 Province of Saskatchewan 3.20% Jun 03/24 CAD 43,000 46,589 45,926 0.1 Province of Manitoba 4.10% Mar 05/41 CAD 33,000 42,048 41,112 0.1 Province of Newfoundland 2.30% Jun 02/25 CAD 39,000 40,533 40,666 0.1 City of Montreal 3.50% Dec 01/38 CAD 36,000 40,178 40,574 0.1 Province of Manitoba 2.60% Jun 02/27 CAD 38,000 40,629 40,356 0.1 Province of New Brunswick 2.60% Aug 14/26 CAD 38,000 40,451 40,321 0.1 Hydro-Quebec 9.63% Jul 15/22 CAD 36,000 43,390 39,410 0.1 Province of Saskatchewan 5.80% Sep 05/33 CAD 28,000 40,239 38,678 0.1 Province of New Brunswick 4.80% Sep 26/39 CAD 29,000 38,629 38,617 0.1 Province of Newfoundland 6.55% Oct 17/30 CAD 28,000 40,244 38,275 0.1 Province of Saskatchewan 2.65% Jun 02/27 CAD 35,000 37,199 37,297 0.1 Province of Quebec 5.35% Jun 01/25 CAD 32,000 37,311 37,151 0.1 Province of New Brunswick 5.65% Dec 27/28 CAD 28,000 36,899 35,577 0.1 Province of British Columbia 2.75% Jun 18/52 CAD 34,000 35,323 35,312 0.1 Province of Alberta 3.40% Dec 01/23 CAD 33,000 35,616 35,144 0.1 Province of Ontario 8.10% Sep 08/23 CAD 30,000 34,901 34,843 0.1 Municipal Finance Authority of British Columbia 2.15% Dec 01/22 CAD 34,000 35,138 34,838 0.1 City of Montreal 3.00% Sep 01/27 CAD 32,000 33,605 34,595 0.1 Province of Newfoundland 2.85% Jun 02/28 CAD 32,000 34,339 34,241 0.1 Province of Newfoundland 4.50% Apr 17/37 CAD 27,000 34,499 33,256 0.1 Province of Nova Scotia 4.50% Jun 01/37 CAD 26,000 33,792 33,238 0.1 Province of Saskatchewan 3.40% Feb 03/42 CAD 29,000 33,196 33,168 0.1 Province of Manitoba 4.65% Mar 05/40 CAD 25,000 33,103 33,043 0.1 Province of Quebec 2.60% Jul 06/25 CAD 31,000 32,294 32,891 0.1 City of Toronto 4.70% Jun 10/41 CAD 25,000 33,581 32,800 0.1 Province of Alberta 2.65% Sep 01/23 CAD 31,000 32,272 32,357 0.1 Province of Nova Scotia 2.00% Sep 01/30 CAD 32,000 32,991 32,144 0.1 Province of Nova Scotia 2.10% Jun 01/27 CAD 31,000 31,939 32,066 0.1 City of Toronto 5.20% Jun 01/40 CAD 23,000 31,780 31,755 0.1 Province of Manitoba 5.70% Mar 05/37 CAD 22,000 31,147 31,492 0.1 Municipal Finance Authority of British Columbia 4.95% Dec 01/27 CAD 26,000 32,117 31,325 0.1 Municipal Finance Authority of British Columbia 2.15% Jun 03/24 CAD 30,000 31,193 31,138 0.1 Province of New Brunswick 5.50% Jan 27/34 CAD 23,000 32,497 30,988 0.1 Province of New Brunswick 3.55% Jun 03/55 CAD 26,000 32,149 30,742 0.1 Province of Newfoundland 6.15% Apr 17/28 CAD 24,000 31,148 30,597 0.1 Municipal Finance Authority of British Columbia 3.05% Oct 23/28 CAD 28,000 30,675 30,575 0.1 Province of British Columbia 5.40% Jun 18/35 CAD 22,000 31,201 30,374 0.1 City of Montreal 4.25% Dec 01/32 CAD 25,000 30,871 29,908 0.1 Province of Nova Scotia 6.60% Dec 01/31 CAD 21,000 30,889 29,829 0.1 Municipal Finance Authority of British Columbia 2.50% Apr 19/26 CAD 28,000 29,009 29,549 0.1 Province of Alberta 1.60% Sep 01/22 CAD 29,000 29,469 29,429 0.1 City of Toronto 3.50% Jun 02/36 CAD 26,000 29,590 29,291 0.1 Province of Newfoundland 1.75% Jun 02/30 CAD 30,000 29,186 29,192 0.1 City of Toronto 3.25% Jun 24/46 CAD 27,000 29,469 29,182 0.1 Province of British Columbia 1.55% Jun 18/31 CAD 30,000 28,827 28,837 0.1 Ontario Electricity Financial Corp. 0.00% Apr 11/31 CAD 36,000 29,287 28,753 0.1 Province of Saskatchewan 2.20% Jun 02/30 CAD 28,000 30,012 28,659 0.1 Province of New Brunswick 4.65% Sep 26/35 CAD 22,000 28,283 28,056 0.1 City of Montreal 4.10% Dec 01/34 CAD 23,000 27,712 27,502 0.1 Ontario Power Generation, Inc. 2.89% Apr 08/25 CAD 26,000 26,950 27,442 0.1 Province of Nova Scotia 4.90% Jun 01/35 CAD 21,000 27,484 27,437 0.1 Province of Manitoba 4.40% Mar 05/42 CAD 21,000 27,046 27,252 0.1 City of Winnipeg 4.30% Nov 15/51 CAD 21,000 28,308 26,912 0.1 Ontario Power Generation, Inc. 3.22% Apr 08/30 CAD 25,000 26,273 26,799 0.1 Province of Saskatchewan 0.80% Sep 02/25 CAD 27,000 27,017 26,621 0.1 Province of Manitoba 3.15% Sep 05/52 CAD 24,000 28,014 26,479 0.1 City of Toronto 2.40% Jun 24/26 CAD 25,000 26,389 26,257 0.1 Province of Saskatchewan 2.95% Jun 02/58 CAD 24,000 27,956 25,769 0.1 Province of Quebec 2.45% Mar 01/23 CAD 24,000 25,025 24,797 0.1 Province of Quebec 1.85% Feb 13/27 CAD 24,000 25,199 24,642 0.1 Province of New Brunswick 4.55% Mar 26/37 CAD 19,000 23,270 24,234 0.1 Municipal Finance Authority of British Columbia 2.55% Oct 09/29 CAD 23,000 24,822 24,211 0.1 City of Montreal 3.15% Sep 01/28 CAD 22,000 23,735 24,050 0.1 Regional Municipality of Peel 3.85% Oct 30/42 CAD 20,000 24,848 23,749 0.1 Province of Manitoba 3.30% Jun 02/24 CAD 22,000 23,565 23,555 0.1 City of Montreal 3.50% Sep 01/23 CAD 22,000 23,450 23,340 0.1 City of Ottawa 3.10% Jul 27/48 CAD 22,000 24,207 23,330 0.1 City of Toronto 2.65% Nov 09/29 CAD 22,000 23,517 23,292 0.1 City of Montreal 3.15% Dec 01/36 CAD 21,000 22,668 22,706 0.1 Province of Saskatchewan 5.75% Mar 05/29 CAD 17,000 21,583 21,806 0.0

36 Vanguard Canadian Government Bond Index ETF

Description Currency Par Value Cost ($) Fair Value ($) % of Net Assets Province of Manitoba 7.75% Dec 22/25 CAD 17,000 21,935 21,787 0.0 Province of Quebec 2.85% Dec 01/53 CAD 20,000 20,390 21,110 0.0 Province of Manitoba 3.25% Sep 05/29 CAD 19,000 20,352 21,049 0.0 City of Toronto 2.80% Nov 22/49 CAD 21,000 22,401 20,953 0.0 Ontario Electricity Financial Corp. 8.90% Aug 18/22 CAD 19,000 22,094 20,807 0.0 First Nations Finance Authority 1.71% Jun 16/30 CAD 21,000 21,372 20,525 0.0 Ontario Power Generation, Inc. 2.98% Sep 13/29 CAD 19,000 19,931 20,098 0.0 Fair Hydro Trust 3.52% May 15/38 CAD 18,000 21,116 20,053 0.0 Newfoundland & Labrador Hydro 3.60% Dec 01/45 CAD 18,000 20,521 19,966 0.0 Province of Nova Scotia 4.40% Jun 01/42 CAD 15,000 21,002 19,520 0.0 South Coast British Columbia Transportation Authority 4.45% Jun 09/44 CAD 15,000 19,764 19,332 0.0 Province of Nova Scotia 1.00% Apr 17/23 CAD 19,000 19,175 19,163 0.0 Province of British Columbia 5.00% Jun 18/31 CAD 15,000 18,454 19,149 0.0 Ontario Power Generation, Inc. 4.25% Jan 18/49 CAD 16,000 18,549 18,726 0.0 Province of Ontario 1.05% Sep 08/27 CAD 19,000 18,730 18,469 0.0 Ontario Power Generation, Inc. 3.32% Oct 04/27 CAD 17,000 17,962 18,430 0.0 City of Montreal 3.50% Sep 01/24 CAD 17,000 18,533 18,332 0.0 Municipal Finance Authority of British Columbia 2.95% Oct 14/24 CAD 17,000 18,303 18,104 0.0 Province of Manitoba 6.30% Mar 05/31 CAD 13,000 18,853 17,845 0.0 Province of Nova Scotia 3.45% Jun 01/45 CAD 15,000 17,983 17,264 0.0 Regional Municipality of York 3.65% May 13/33 CAD 15,000 17,466 17,054 0.0 Ontario Power Generation, Inc. 2.95% Feb 21/51 CAD 18,000 17,856 16,747 0.0 Province of Nova Scotia 6.60% Jun 01/27 CAD 13,000 16,953 16,739 0.0 Newfoundland & Labrador Hydro 6.65% Aug 27/31 CAD 12,000 17,297 16,679 0.0 Regional Municipality of York 4.05% May 01/34 CAD 14,000 16,118 16,565 0.0 Ontario Infrastructure and Lands Corp. 4.70% Jun 01/37 CAD 13,000 17,008 16,488 0.0 Ontario Power Generation, Inc. 3.84% Jun 22/48 CAD 15,000 16,622 16,382 0.0 Fair Hydro Trust 3.36% May 15/35 CAD 15,000 16,344 16,341 0.0 ENMAX Corp. 3.84% Jun 05/28 CAD 15,000 16,396 16,166 0.0 South Coast British Columbia Transportation Authority 3.05% Jun 04/25 CAD 15,000 16,390 16,079 0.0 City of Montreal 2.30% Sep 01/29 CAD 15,000 15,135 15,440 0.0 Province of Saskatchewan 6.40% Sep 05/31 CAD 11,000 15,404 15,374 0.0 Ontario Electricity Financial Corp. 8.50% May 26/25 CAD 12,000 16,196 15,308 0.0 Province of Prince Edward Island 3.60% Jan 17/53 CAD 13,000 15,546 15,227 0.0 Hydro-Quebec 6.50% Jan 16/35 CAD 10,000 14,585 14,788 0.0 EPCOR Utilities, Inc. 3.11% Jul 08/49 CAD 15,000 16,039 14,785 0.0 Alberta Capital Finance Authority 4.45% Dec 15/25 CAD 13,000 14,912 14,777 0.0 Province of Manitoba 4.40% Sep 05/25 CAD 13,000 14,749 14,709 0.0 Regional Municipality of York 1.70% May 27/30 CAD 15,000 15,339 14,682 0.0 South Coast British Columbia Transportation Authority 3.25% Nov 23/28 CAD 13,000 14,349 14,374 0.0 First Nations Finance Authority 3.05% Jun 01/28 CAD 13,000 14,081 14,147 0.0 New Brunswick F-M Project Co. Inc. 6.47% Nov 30/27 CAD 12,015 14,144 14,020 0.0 City of Toronto 3.20% Aug 01/48 CAD 13,000 14,748 14,003 0.0 City of Toronto 3.90% Sep 29/23 CAD 13,000 14,167 13,929 0.0 City of Montreal 3.00% Sep 01/25 CAD 13,000 13,759 13,926 0.0 EPCOR Utilities, Inc. 3.55% Nov 27/47 CAD 13,000 14,974 13,844 0.0 Ontario Power Generation, Inc. 1.17% Apr 22/26 CAD 14,000 14,000 13,745 0.0 Regional Municipality of York 2.50% Jun 02/26 CAD 13,000 13,681 13,706 0.0 Regional Municipality of Peel 5.10% Jun 29/40 CAD 10,000 13,537 13,642 0.0 Municipal Finance Authority of British Columbia 1.35% Jun 30/26 CAD 13,000 13,006 13,009 0.0 South Coast British Columbia Transportation Authority 1.60% Jul 03/30 CAD 13,000 13,074 12,575 0.0 Province of Nova Scotia 2.15% Jun 01/25 CAD 12,000 12,245 12,484 0.0 City of Ottawa 2.50% May 11/51 CAD 13,000 13,420 12,201 0.0 EPCOR Utilities, Inc. 4.55% Feb 28/42 CAD 10,000 12,968 12,072 0.0 City of Ottawa 3.25% Nov 10/47 CAD 11,000 12,256 11,957 0.0 City of Toronto 2.95% Apr 28/35 CAD 11,000 11,004 11,669 0.0 Province of Manitoba 2.05% Sep 05/52 CAD 13,000 11,499 11,319 0.0 City of Toronto 2.90% Apr 29/51 CAD 11,000 10,609 11,152 0.0 City of Toronto 4.15% Mar 10/44 CAD 9,000 11,002 11,115 0.0 Province of Saskatchewan 2.15% Jun 02/31 CAD 11,000 11,107 11,110 0.0 City of Montreal 2.75% Sep 01/26 CAD 10,000 10,719 10,641 0.0 Regional Municipality of York 2.60% Dec 15/25 CAD 10,000 10,662 10,580 0.0 Regional Municipality of York 2.35% Jun 09/27 CAD 10,000 10,558 10,461 0.0 Ontario Electricity Financial Corp. 9.00% May 26/25 CAD 8,000 11,059 10,357 0.0 Province of Manitoba 2.05% Jun 02/30 CAD 10,000 9,899 10,104 0.0 Province of Newfoundland 1.25% Jun 02/27 CAD 10,000 9,819 9,806 0.0 Province of Nova Scotia 1.10% Jun 01/28 CAD 10,000 9,661 9,655 0.0 Province of Nova Scotia 5.80% Jun 01/33 CAD 7,000 10,117 9,607 0.0 City of Montreal 2.40% Dec 01/41 CAD 10,000 9,602 9,582 0.0 Regional Municipality of York 2.65% Apr 18/29 CAD 9,000 9,334 9,545 0.0 EPCOR Utilities, Inc. 2.90% May 19/50 CAD 10,000 10,323 9,461 0.0

37 Vanguard Canadian Government Bond Index ETF

Description Currency Par Value Cost ($) Fair Value ($) % of Net Assets Municipal Finance Authority of British Columbia 2.80% Dec 03/23 CAD 9,000 9,188 9,457 0.0 Newfoundland & Labrador Hydro 8.40% Feb 27/26 CAD 7,000 9,574 9,193 0.0 Province of New Brunswick 3.65% Jun 03/24 CAD 8,000 8,519 8,643 0.0 Province of British Columbia 3.30% Dec 18/23 CAD 8,000 8,595 8,519 0.0 ENMAX Corp. 3.33% Jun 02/25 CAD 8,000 8,015 8,450 0.0 Province of New Brunswick 3.80% Aug 14/45 CAD 7,000 7,974 8,429 0.0 City of Toronto 2.45% Feb 06/25 CAD 8,000 7,884 8,378 0.0 ENMAX Corp. 2.92% Oct 18/22 CAD 8,000 8,078 8,201 0.0 Regional Municipality of York 4.00% May 31/32 CAD 7,000 8,506 8,192 0.0 Province of Newfoundland 5.60% Oct 17/33 CAD 6,000 7,715 7,978 0.0 Province of Alberta 4.50% Dec 01/40 CAD 6,000 7,861 7,761 0.0 City of Toronto 3.40% May 21/24 CAD 7,000 7,372 7,504 0.0 Municipal Finance Authority of British Columbia 3.75% Sep 26/23 CAD 7,000 7,347 7,483 0.0 Province of Saskatchewan 2.80% Dec 02/52 CAD 7,000 6,913 7,235 0.0 Province of Saskatchewan 5.60% Sep 05/35 CAD 5,000 6,756 6,993 0.0 City of Ottawa 4.60% Jul 14/42 CAD 5,000 6,544 6,539 0.0 Municipal Finance Authority of British Columbia 2.60% Apr 23/23 CAD 6,000 6,111 6,222 0.0 Municipal Finance Authority of British Columbia 2.30% Apr 15/31 CAD 6,000 6,131 6,133 0.0 City of Ottawa 1.75% Sep 01/30 CAD 6,000 6,050 5,851 0.0 Province of Newfoundland 3.70% Oct 17/48 CAD 5,000 5,824 5,678 0.0 Province of Ontario 8.00% Jun 02/26 CAD 4,000 5,884 5,271 0.0 City of Toronto 3.80% Dec 13/42 CAD 4,000 4,320 4,721 0.0 Ontario Power Generation, Inc. 3.65% Sep 13/50 CAD 4,000 4,476 4,250 0.0 Province of New Brunswick 1.80% Aug 14/25 CAD 4,000 4,154 4,103 0.0 Province of Newfoundland 5.70% Oct 17/35 CAD 2,000 2,627 2,738 0.0 City of Toronto 2.40% Jun 07/27 CAD 2,000 2,025 2,099 0.0 Province of Manitoba 2.05% Jun 02/31 CAD 2,000 2,001 1,999 0.0 Province of Newfoundland 2.85% Jun 02/29 CAD 1,000 1,029 1,067 0.0 Ontario School Boards Financing Corp. 5.48% Nov 26/29 CAD 5 11 6 0.0 27,989,641 27,190,508 55.5 Total investments 50,796,735 49,463,222 101.0 Other assets and liabilities (net) (512,792) (1.0) Total net assets attributable to holders of redeemable units 48,950,430 100.0

Fund-Specific Notes—Concentration Risk As at June 30, 2021 (unaudited), and December 31, 2020 % of net assets attributable to holders of redeemable units

June 30, December 31, Sector Allocation 2021 2020 Fixed income Provincials/Municipals 55.5 55.7 Government 31.8 30.1 Government-related Agencies 13.7 13.8 Other assets and liabilities (net) (1.0) 0.4 100.0 100.0

38 Vanguard Canadian Long-Term Bond Index ETF

Statement of Financial Position As at June 30, 2021 (unaudited), and December 31, 2020

June 30, December 31, 2021 2020 Assets Current assets Investments $51,338,482 $50,475,404 Cash 292,048 248,814 Amounts receivable for investments sold 2,965,478 10,672,144 Interest receivable 255,527 235,215 Total assets 54,851,535 61,631,577 Liabilities Current liabilities Amounts payable for investments purchased 3,006,509 10,655,690 Distributions payable 146,296 90,125 Accrued expenses and other liabilities 3,692 1,464 Total liabilities excluding net assets attributable to holders of redeemable units 3,156,497 10,747,279 Total net assets attributable to holders of redeemable units $51,695,038 $50,884,298 Number of redeemable units outstanding (Note 9) 1,900,000 1,700,000 Net assets attributable to holders of redeemable units per unit $27.21 $29.93

Statement of Comprehensive Income For the six months ended June 30, 2021, and June 30, 2020 (unaudited)

2021 2020 Income Net gain (loss) on investments Interest for distribution purposes $818,295 $737,325 Net realized gain (loss) on sale of investments (564,753) 1,162,314 Change in unrealized appreciation/depreciation of investments (4,329,170) 3,416,955 Net gain (loss) on investments (4,075,628) 5,316,594 Other income 7,252 — Total income (net) (4,068,376) 5,316,594 Expenses (Note 10) Management fees 42,057 43,723 Independent Review Committee fees 1,341 1,352 Total expenses 43,398 45,075 Expenses absorbed or waived by manager (1,341) (1,352) Net expenses 42,057 43,723 Increase (decrease) in net assets attributable to holders of redeemable units $(4,110,433) $5,272,871 Weighted average number of redeemable units 1,890,608 1,677,473 Increase (decrease) in net assets attributable to holders of redeemable units per unit $(2.17) $3.14

The accompanying notes are an integral part of the financial statements.

39 Vanguard Canadian Long-Term Bond Index ETF

Statement of Changes in Net Assets Attributable to Holders of Redeemable Units For the six months ended June 30, 2021, and June 30, 2020 (unaudited)

2021 2020 Net assets attributable to holders of redeemable units, beginning of period $50,884,298 $52,341,664 Increase (decrease) in net assets attributable to holders of redeemable units $(4,110,433) $5,272,871 Distributions to holders of redeemable units Net investment income (808,297) (733,541) Total distributions to holders of redeemable units (808,297) (733,541) Redeemable unit transactions Proceeds from issuance of redeemable units 8,406,200 11,550,450 Payment for redeemable units redeemed (2,676,730) (20,003,020) Net redeemable unit transactions 5,729,470 (8,452,570) Net assets attributable to holders of redeemable units, end of period $51,695,038 $48,428,424

Statement of Cash Flows For the six months ended June 30, 2021, and June 30, 2020 (unaudited)

2021 2020 Cash flows from (used in) operating activities Increase (decrease) in net assets attributable to holders of redeemable units $(4,110,433) $5,272,871 Adjustments for: Net realized (gain) loss on sale of investments 564,753 (1,162,314) Change in unrealized appreciation/depreciation of investments 4,329,170 (3,416,955) Purchase of investments1 (20,278,418) (8,140,650) 2 Proceeds from sale of investments 17,388,602 8,108,841 Change in working capital (18,084) 36,095 Net cash from (used in) operating activities (2,124,410) 697,888 Cash flows from (used in) financing activities 1 Proceeds from issuance of redeemable units 2,937,618 46,910 Distributions to holders of redeemable units, net of reinvested distributions (752,126) (726,837) 2 Payment for redeemable units redeemed (17,848) (57,339) Net cash from (used in) financing activities 2,167,644 (737,266) Net increase (decrease) in cash during the period $43,234 $(39,378) Cash, beginning of period $248,814 $250,008 Cash, end of period $292,048 $210,630 Supplemental cash flow information relating to operating activities Interest received, net of foreign withholding taxes, if applicable $797,983 $772,094

1 Excludes in-kind transactions of $5,468,582 and $11,503,540 for the periods ended June 30, 2021 and 2020. 2 Excludes in-kind transactions of $2,658,882 and $19,945,681 for the periods ended June 30, 2021 and 2020.

The accompanying notes are an integral part of the financial statements.

40 Vanguard Canadian Long-Term Bond Index ETF

Schedule of Investment Portfolio As at June 30, 2021 (unaudited)

Description Currency Par Value Cost ($) Fair Value ($) % of Net Assets Fixed income Financial Royal Office Finance LP 5.21% Nov 12/37 CAD 77,683 97,285 95,968 0.2 Great-West Lifeco, Inc. 6.67% Mar 21/33 CAD 68,000 95,142 94,303 0.2 Scotiabank Capital Trust 5.65% Dec 31/56 CAD 60,000 73,953 78,877 0.2 Plenary Properties LTAP LP 6.29% Jan 31/44 CAD 56,905 78,298 76,263 0.1 Manulife Finance Delaware LP 5.06% Dec 15/41 CAD 58,000 69,682 70,222 0.1 Sun Life Financial, Inc. 5.40% May 29/42 CAD 33,000 42,065 42,043 0.1 Brookfield Asset Management, Inc. 5.95% Jun 14/35 CAD 33,000 40,949 41,797 0.1 Capital City Link General Partnership 4.39% Mar 31/46 CAD 33,181 38,201 36,959 0.1 SEC LP and Arci Ltd. 5.19% Aug 29/33 CAD 30,335 32,755 32,665 0.1 Great-West Lifeco, Inc. 6.00% Nov 16/39 CAD 20,000 28,061 27,547 0.1 Intact Financial Corp. 2.95% Dec 16/50 CAD 27,000 26,525 24,990 0.0 Great-West Lifeco, Inc. 2.98% Jul 08/50 CAD 26,000 27,502 24,385 0.0 CIBC Capital Trust 10.25% Jun 30/2108 CAD 20,000 23,530 21,213 0.0 673,948 667,232 1.3 Government Government of Canada 2.00% Dec 01/51 CAD 2,838,000 3,198,906 2,941,175 5.7 Government of Canada 2.75% Dec 01/48 CAD 846,000 1,106,721 1,015,036 2.0 Government of Canada 4.00% Jun 01/41 CAD 596,000 860,530 825,062 1.6 Government of Canada 5.75% Jun 01/33 CAD 514,000 777,773 748,755 1.4 Government of Canada 3.50% Dec 01/45 CAD 535,000 753,635 714,944 1.4 Government of Canada 5.00% Jun 01/37 CAD 460,000 686,882 677,893 1.3 Government of Canada 2.75% Dec 01/64 CAD 405,000 546,315 507,061 1.0 Republic of Austria 5.38% Dec 01/34 CAD 19,000 25,465 25,260 0.0 7,956,227 7,455,186 14.4 Government-related Agencies Muskrat Falls / Labrador Transmission Assets Funding Trust 3.86% Dec 01/48 CAD 108,000 144,936 136,884 0.3 Labrador-Island Link Funding Trust 3.85% Dec 01/53 CAD 87,000 120,434 112,695 0.2 Maritime Link Financing Trust 3.50% Dec 01/52 CAD 96,923 112,863 111,217 0.2 Muskrat Falls / Labrador Transmission Assets Funding Trust 3.83% Jun 01/37 CAD 61,000 76,180 74,040 0.1 Labrador-Island Link Funding Trust 3.76% Jun 01/33 CAD 56,000 67,523 65,874 0.1 Labrador-Island Link Funding Trust 3.86% Dec 01/45 CAD 45,000 59,010 56,251 0.1 Canada Post Corp. 4.36% Jul 16/40 CAD 36,000 49,879 46,969 0.1 OPB Finance Trust 3.89% Jul 04/42 CAD 30,000 35,901 35,153 0.1 Cordelio Amalco GP I 4.09% Sep 30/34 CAD 24,885 26,584 27,066 0.1 KfW 4.70% Jun 02/37 CAD 20,000 26,071 25,843 0.1 Cordelio Amalco GP I 4.09% Jun 30/34 CAD 19,714 20,802 21,409 0.0 740,183 713,401 1.4 Industrial Shaw Communications, Inc. 6.75% Nov 09/39 CAD 94,000 126,540 126,350 0.2 TransCanada PipeLines Ltd. 4.34% Oct 15/49 CAD 105,000 116,338 110,489 0.2 Bell Canada, Inc. 3.50% Sep 30/50 CAD 112,000 113,261 104,968 0.2 TransCanada PipeLines Ltd. 4.55% Nov 15/41 CAD 90,000 99,985 96,962 0.2 TELUS Corp. 4.70% Mar 06/48 CAD 77,000 91,225 86,270 0.2 North West Redwater Partnership / NWR Financing Co. Ltd. 4.15% Jun 01/33 CAD 77,000 88,289 85,070 0.2 TELUS Corp. 4.85% Apr 05/44 CAD 73,000 82,018 82,730 0.2 Enbridge, Inc. 4.57% Mar 11/44 CAD 76,000 83,391 81,608 0.2 Rogers Communications, Inc. 6.11% Aug 25/40 CAD 63,000 84,987 80,428 0.2 TransCanada PipeLines Ltd. 4.18% Jul 03/48 CAD 78,000 79,957 79,957 0.2 55 Ontario School Board Trust 5.90% Jun 02/33 CAD 59,000 80,705 79,788 0.1 Greater Toronto Airports Authority 5.30% Feb 25/41 CAD 58,000 80,467 76,961 0.1 North West Redwater Partnership / NWR Financing Co. Ltd. 3.65% Jun 01/35 CAD 71,000 76,038 74,360 0.1 Nouvelle Autoroute 30 Financement, Inc. 4.12% Jun 30/42 CAD 66,798 77,309 73,400 0.1 AT&T, Inc. 4.85% May 25/47 CAD 64,000 69,763 70,970 0.1 407 International, Inc. 3.65% Sep 08/44 CAD 66,000 74,928 70,908 0.1 Pembina Pipeline Corp. 4.75% Mar 26/48 CAD 62,000 68,919 66,491 0.1 TELUS Corp. 3.95% Feb 16/50 CAD 66,000 67,435 65,931 0.1 North West Redwater Partnership / NWR Financing Co. Ltd. 3.75% Jun 01/51 CAD 65,000 65,276 65,511 0.1 TransCanada PipeLines Ltd. 4.33% Sep 16/47 CAD 62,000 66,342 65,002 0.1

41 Vanguard Canadian Long-Term Bond Index ETF

Description Currency Par Value Cost ($) Fair Value ($) % of Net Assets TELUS Corp. 4.40% Apr 01/43 CAD 60,000 66,021 64,074 0.1 Greater Toronto Airports Authority 6.98% Oct 15/32 CAD 45,000 66,151 63,243 0.1 Northern Courier Pipeline LP 3.37% Jun 30/42 CAD 60,827 63,035 62,527 0.1 Rogers Communications, Inc. 6.68% Nov 04/39 CAD 46,000 63,128 61,939 0.1 Anheuser-Busch InBev Finance, Inc. 4.32% May 15/47 CAD 57,000 61,029 60,965 0.1 TransCanada PipeLines Ltd. 4.35% Jun 06/46 CAD 57,000 62,346 59,877 0.1 Enbridge Pipelines, Inc. 4.33% Feb 22/49 CAD 56,000 63,363 59,865 0.1 Canadian Pacific Railway Co. 3.05% Mar 09/50 CAD 63,000 61,652 59,488 0.1 Suncor Energy, Inc. 5.39% Mar 26/37 CAD 49,000 61,965 58,784 0.1 Greater Toronto Airports Authority 3.26% Jun 01/37 CAD 56,000 60,349 58,376 0.1 North West Redwater Partnership / NWR Financing Co. Ltd. 4.05% Jul 22/44 CAD 55,000 60,945 58,307 0.1 Pembina Pipeline Corp. 4.54% Apr 03/49 CAD 55,000 59,841 57,293 0.1 Pembina Pipeline Corp. 4.75% Apr 30/43 CAD 53,000 58,128 56,432 0.1 AT&T, Inc. 5.10% Nov 25/48 CAD 48,000 51,909 55,357 0.1 Canadian National Railway Co. 3.60% Aug 01/47 CAD 52,000 60,305 53,206 0.1 Aeroports de Montreal 5.17% Sep 17/35 CAD 41,000 53,343 51,647 0.1 Enbridge Pipelines, Inc. 4.55% Sep 29/45 CAD 47,000 52,791 51,579 0.1 TELUS Corp. 2.85% Nov 13/31 CAD 50,000 49,876 50,152 0.1 Teranet Holdings LP 5.75% Dec 17/40 CAD 42,000 47,111 49,921 0.1 407 International, Inc. 4.19% Apr 25/42 CAD 43,000 51,433 49,527 0.1 407 International, Inc. 5.75% Feb 14/36 CAD 39,000 50,634 49,279 0.1 Bell Canada, Inc. 4.45% Feb 27/47 CAD 45,000 48,726 49,255 0.1 407 International, Inc. 2.59% May 25/32 CAD 48,000 51,554 48,697 0.1 Bell Canada, Inc. 7.30% Feb 23/32 CAD 36,000 50,675 48,601 0.1 SSL Finance, Inc. 4.10% Oct 31/45 CAD 43,918 50,270 48,057 0.1 Metro, Inc. 5.03% Dec 01/44 CAD 40,000 48,985 47,820 0.1 407 International, Inc. 4.45% Nov 15/41 CAD 40,000 50,537 47,568 0.1 Verizon Communications, Inc. 4.05% Mar 22/51 CAD 45,000 45,423 47,151 0.1 Bell Canada, Inc. 4.35% Dec 18/45 CAD 43,000 48,017 46,313 0.1 Enbridge, Inc. 4.24% Aug 27/42 CAD 44,000 46,352 45,124 0.1 Shaw Communications, Inc. 4.25% Dec 09/49 CAD 42,000 44,102 42,960 0.1 TELUS Corp. 4.40% Jan 29/46 CAD 40,000 44,333 42,766 0.1 SGTP Highway Bypass LP 4.11% Jan 31/45 CAD 39,280 44,030 42,419 0.1 Canadian National Railway Co. 3.60% Jul 31/48 CAD 41,000 42,211 41,982 0.1 Pembina Pipeline Corp. 4.74% Jan 21/47 CAD 39,000 40,704 41,751 0.1 Metro, Inc. 3.41% Feb 28/50 CAD 44,000 44,934 41,703 0.1 Bell Canada, Inc. 4.05% Mar 17/51 CAD 40,000 40,394 41,346 0.1 407 International, Inc. 2.84% Mar 07/50 CAD 44,000 42,182 41,122 0.1 Pembina Pipeline Corp. 4.81% Mar 25/44 CAD 38,000 41,467 40,828 0.1 Hospital Infrastructure Partners NOH Partnership 5.44% Jan 31/45 CAD 32,756 40,816 40,196 0.1 Canadian National Railway Co. 3.95% Sep 22/45 CAD 37,000 44,282 40,126 0.1 Crosslinx Transit Solutions GP 4.65% Sep 30/46 CAD 36,000 40,556 39,457 0.1 Pembina Pipeline Corp. 4.67% May 28/50 CAD 37,000 39,742 39,368 0.1 407 International, Inc. 3.98% Sep 11/52 CAD 34,000 40,144 38,947 0.1 Greater Toronto Airports Authority 2.75% Oct 17/39 CAD 39,000 38,833 37,662 0.1 Rogers Communications, Inc. 6.56% Mar 22/41 CAD 28,000 39,693 37,572 0.1 407 International, Inc. 3.83% May 11/46 CAD 34,000 38,203 37,565 0.1 Aeroports de Montreal 3.03% Apr 21/50 CAD 38,000 37,843 37,266 0.1 Suncor Energy, Inc. 3.95% Mar 04/51 CAD 37,000 36,265 37,087 0.1 NAV Canada 2.92% Sep 29/51 CAD 37,000 38,532 36,521 0.1 Enbridge Pipelines, Inc. 4.13% Aug 09/46 CAD 35,000 37,572 36,179 0.1 TELUS Corp. 4.10% Apr 05/51 CAD 35,000 34,662 35,842 0.1 Bell Canada, Inc. 6.17% Feb 26/37 CAD 27,000 34,918 35,195 0.1 407 International, Inc. 3.72% May 11/48 CAD 32,000 36,328 35,011 0.1 Bell Canada, Inc. 6.10% Mar 16/35 CAD 27,000 34,700 34,663 0.1 TransCanada PipeLines Ltd. 8.05% Feb 17/39 CAD 22,000 34,758 33,151 0.1 Inter Pipeline Ltd. 4.64% May 30/44 CAD 31,000 33,454 32,433 0.1 Aeroports de Montreal 3.44% Apr 26/51 CAD 30,000 31,342 31,811 0.1 Bell Canada, Inc. 4.75% Sep 29/44 CAD 28,000 31,944 31,751 0.1 407 International, Inc. 3.67% Mar 08/49 CAD 29,000 31,393 31,472 0.1 Ottawa MacDonald-Cartier International Airport Authority 3.93% Jun 09/45 CAD 30,253 33,610 31,465 0.1 407 International, Inc. 3.60% May 21/47 CAD 28,000 30,981 29,939 0.1 Suncor Energy, Inc. 4.34% Sep 13/46 CAD 28,000 30,924 29,764 0.1 407 International, Inc. 5.96% Dec 03/35 CAD 22,000 30,704 29,755 0.1 Metro, Inc. 5.97% Oct 15/35 CAD 23,000 29,103 29,306 0.1 Plenary Health Care Partnerships Humber LP 4.90% May 31/39 CAD 24,807 29,881 29,178 0.1 Canadian National Railway Co. 3.60% Feb 08/49 CAD 28,000 30,930 28,622 0.1 Canadian Natural Resources Ltd. 4.85% May 30/47 CAD 25,000 28,359 28,261 0.1 North West Redwater Partnership / NWR Financing Co. Ltd. 4.75% Jun 01/37 CAD 24,000 28,673 28,114 0.1 North West Redwater Partnership / NWR Financing Co. Ltd. 4.35% Jan 10/39 CAD 24,000 27,044 26,643 0.0 Metro, Inc. 4.27% Dec 04/47 CAD 24,000 26,807 26,288 0.0

42 Vanguard Canadian Long-Term Bond Index ETF

Description Currency Par Value Cost ($) Fair Value ($) % of Net Assets Enbridge Pipelines, Inc. 4.20% May 12/51 CAD 25,000 24,992 26,245 0.0 North West Redwater Partnership / NWR Financing Co. Ltd. 3.70% Feb 23/43 CAD 26,000 27,229 26,174 0.0 AltaGas Ltd. 4.50% Aug 15/44 CAD 24,000 24,755 25,689 0.0 TransEd Partners GP 3.95% Sep 30/50 CAD 24,780 25,094 25,510 0.0 Loblaw Cos. Ltd. 5.90% Jan 18/36 CAD 20,000 25,505 25,184 0.0 TELUS Corp. 4.75% Jan 17/45 CAD 22,000 25,095 24,661 0.0 Vancouver Airport Authority 2.87% Oct 18/49 CAD 25,000 25,473 23,889 0.0 Enbridge Pipelines, Inc. 5.33% Apr 06/40 CAD 20,000 25,119 23,833 0.0 Canadian National Railway Co. 3.05% Feb 08/50 CAD 25,000 23,996 23,128 0.0 Aeroports de Montreal 5.67% Oct 16/37 CAD 16,000 22,421 21,482 0.0 Hospital for Sick Children 3.42% Dec 07/57 CAD 20,000 22,374 21,307 0.0 Vancouver Airport Authority 2.80% Sep 21/50 CAD 21,000 20,890 19,753 0.0 Verizon Communications, Inc. 3.63% May 16/50 CAD 20,000 19,966 19,496 0.0 Nouvelle Autoroute 30 Financement, Inc. 4.11% Mar 31/42 CAD 16,984 18,604 18,684 0.0 University of Ottawa 2.64% Feb 13/60 CAD 20,000 20,130 17,461 0.0 Canadian Pacific Railway Co. 6.45% Nov 17/39 CAD 12,000 17,301 17,098 0.0 Enbridge Pipelines, Inc. 4.55% Aug 17/43 CAD 10,000 11,368 10,917 0.0 TELUS Corp. 5.15% Nov 26/43 CAD 6,000 7,041 7,044 0.0 5,233,773 5,095,620 9.9 Provincials/Municipals Province of Ontario 4.60% Jun 02/39 CAD 1,423,000 1,954,610 1,866,855 3.6 Province of Ontario 3.50% Jun 02/43 CAD 1,360,000 1,664,481 1,580,752 3.1 Province of Ontario 2.90% Jun 02/49 CAD 1,469,000 1,660,098 1,549,510 3.0 Province of Ontario 2.80% Jun 02/48 CAD 1,465,000 1,623,526 1,518,038 2.9 Province of Quebec 4.25% Dec 01/43 CAD 1,123,000 1,530,570 1,460,935 2.8 Province of Quebec 3.10% Dec 01/51 CAD 1,204,000 1,433,717 1,332,241 2.6 Province of Quebec 5.00% Dec 01/38 CAD 908,000 1,321,718 1,245,447 2.4 Province of Ontario 2.90% Dec 02/46 CAD 1,021,000 1,115,635 1,077,400 2.1 Hydro-Quebec 4.00% Feb 15/55 CAD 788,000 1,123,429 1,027,021 2.0 Province of Ontario 4.70% Jun 02/37 CAD 779,000 1,032,106 1,019,214 2.0 Province of Alberta 3.05% Dec 01/48 CAD 877,000 987,700 934,736 1.8 Province of Ontario 2.65% Dec 02/50 CAD 929,000 990,616 931,990 1.8 Province of Quebec 3.50% Dec 01/48 CAD 783,000 970,995 925,507 1.8 Province of Ontario 5.85% Mar 08/33 CAD 581,000 824,842 799,592 1.5 Province of Quebec 3.50% Dec 01/45 CAD 673,000 808,034 790,551 1.5 Province of Ontario 3.45% Jun 02/45 CAD 681,000 817,614 786,899 1.5 Province of British Columbia 4.30% Jun 18/42 CAD 599,000 817,305 781,003 1.5 Hydro-Quebec 5.00% Feb 15/45 CAD 497,000 739,448 712,659 1.4 Province of Ontario 4.65% Jun 02/41 CAD 514,000 708,113 687,787 1.3 Province of Alberta 3.10% Jun 01/50 CAD 600,000 671,977 644,119 1.2 Province of Ontario 1.90% Dec 02/51 CAD 727,000 646,276 615,312 1.2 Province of British Columbia 2.80% Jun 18/48 CAD 537,000 602,796 563,934 1.1 Province of Saskatchewan 3.30% Jun 02/48 CAD 494,000 586,300 559,074 1.1 Province of Manitoba 3.40% Sep 05/48 CAD 480,000 589,452 550,606 1.1 Hydro-Quebec 5.00% Feb 15/50 CAD 348,000 540,742 514,409 1.0 Province of Quebec 1.50% Sep 01/31 CAD 523,000 498,260 499,099 1.0 Province of British Columbia 2.95% Jun 18/50 CAD 433,000 502,359 467,016 0.9 Hydro-Quebec 6.50% Feb 15/35 CAD 298,000 460,253 445,097 0.9 Province of Quebec 6.25% Jun 01/32 CAD 299,000 437,507 419,849 0.8 Hydro-Quebec 6.00% Feb 15/40 CAD 260,000 410,542 397,028 0.8 Province of Alberta 3.45% Dec 01/43 CAD 310,000 369,021 352,811 0.7 Province of New Brunswick 3.55% Jun 03/43 CAD 288,000 351,882 333,333 0.6 Province of Quebec 5.00% Dec 01/41 CAD 231,000 332,687 325,128 0.6 Province of Manitoba 3.35% Mar 05/43 CAD 263,000 315,389 297,660 0.6 Province of Alberta 3.30% Dec 01/46 CAD 204,000 227,942 226,570 0.4 Province of Manitoba 4.60% Mar 05/38 CAD 172,000 231,968 223,186 0.4 Province of Saskatchewan 4.75% Jun 01/40 CAD 160,000 223,812 215,047 0.4 Province of Quebec 2.85% Dec 01/53 CAD 190,000 193,705 200,543 0.4 Province of Ontario 5.60% Jun 02/35 CAD 142,000 208,007 197,853 0.4 City of Toronto 3.80% Dec 13/42 CAD 167,000 210,550 197,082 0.4 Province of Alberta 3.90% Dec 01/33 CAD 164,000 193,709 192,316 0.4 Province of Newfoundland 3.70% Oct 17/48 CAD 159,000 191,562 180,561 0.3 Province of New Brunswick 4.55% Mar 26/37 CAD 141,000 185,763 179,844 0.3 Province of British Columbia 4.70% Jun 18/37 CAD 135,000 187,474 178,232 0.3 Hydro-Quebec 2.10% Feb 15/60 CAD 186,000 159,941 161,202 0.3 Province of New Brunswick 3.05% Aug 14/50 CAD 149,000 170,773 159,245 0.3 Province of Newfoundland 3.30% Oct 17/46 CAD 149,000 158,114 158,238 0.3 Financement-Quebec 5.25% Jun 01/34 CAD 116,000 157,858 154,046 0.3 Province of Nova Scotia 3.15% Dec 01/51 CAD 132,000 156,453 145,380 0.3 Province of Nova Scotia 3.50% Jun 02/62 CAD 118,000 148,318 142,306 0.3 Province of Nova Scotia 4.40% Jun 01/42 CAD 106,000 144,907 137,941 0.3 Province of Manitoba 2.05% Sep 05/52 CAD 149,000 137,688 129,730 0.3

43 Vanguard Canadian Long-Term Bond Index ETF

Description Currency Par Value Cost ($) Fair Value ($) % of Net Assets Hydro-Quebec 6.00% Aug 15/31 CAD 88,000 126,755 119,864 0.2 Province of British Columbia 4.95% Jun 18/40 CAD 86,000 119,268 119,331 0.2 Province of Newfoundland 2.65% Oct 17/50 CAD 126,000 124,444 117,468 0.2 Province of British Columbia 4.90% Jun 18/48 CAD 78,000 124,051 113,670 0.2 Province of Nova Scotia 5.80% Jun 01/33 CAD 69,000 98,921 94,693 0.2 Province of Manitoba 4.05% Sep 05/45 CAD 75,000 94,095 94,393 0.2 Province of Saskatchewan 2.75% Dec 02/46 CAD 91,000 97,397 93,524 0.2 Hydro-Quebec 6.50% Jan 16/35 CAD 63,000 94,041 93,164 0.2 City of Toronto 2.95% Apr 28/35 CAD 83,000 89,279 88,044 0.2 City of Montreal 4.25% Dec 01/32 CAD 71,000 84,799 84,939 0.2 City of Montreal 3.50% Dec 01/38 CAD 73,000 83,592 82,276 0.2 Province of Saskatchewan 3.10% Jun 02/50 CAD 75,000 86,127 82,004 0.2 Province of Alberta 2.95% Jun 01/52 CAD 78,000 77,898 81,501 0.2 Province of Nova Scotia 4.50% Jun 01/37 CAD 62,000 81,594 79,259 0.2 Province of Saskatchewan 2.95% Jun 02/58 CAD 72,000 82,250 77,308 0.1 City of Montreal 6.00% Jun 01/43 CAD 49,000 77,034 75,632 0.1 Province of Nova Scotia 4.70% Jun 01/41 CAD 55,000 73,208 73,777 0.1 Province of New Brunswick 3.10% Aug 14/48 CAD 67,000 70,980 72,340 0.1 Province of New Brunswick 5.50% Jan 27/34 CAD 51,000 71,567 68,714 0.1 Province of British Columbia 2.75% Jun 18/52 CAD 65,000 67,530 67,509 0.1 Province of Saskatchewan 6.40% Sep 05/31 CAD 47,000 65,531 65,687 0.1 City of Toronto 3.50% Jun 02/36 CAD 58,000 64,118 65,342 0.1 Province of Newfoundland 4.50% Apr 17/37 CAD 53,000 66,686 65,280 0.1 City of Montreal 3.15% Dec 01/36 CAD 56,000 62,375 60,550 0.1 City of Winnipeg 4.30% Nov 15/51 CAD 46,000 60,915 58,951 0.1 Province of British Columbia 3.20% Jun 18/44 CAD 50,000 54,326 56,253 0.1 Province of New Brunswick 4.65% Sep 26/35 CAD 44,000 58,487 56,112 0.1 Newfoundland & Labrador Hydro 6.65% Aug 27/31 CAD 40,000 56,299 55,597 0.1 Ontario Power Generation, Inc. 3.84% Jun 22/48 CAD 50,000 56,892 54,606 0.1 Province of Nova Scotia 3.45% Jun 01/45 CAD 47,000 52,024 54,094 0.1 Province of Saskatchewan 5.00% Mar 05/37 CAD 40,000 53,808 53,786 0.1 Fair Hydro Trust 3.36% May 15/35 CAD 49,000 55,047 53,379 0.1 Province of Saskatchewan 5.80% Sep 05/33 CAD 38,000 55,457 52,491 0.1 City of Toronto 2.80% Nov 22/49 CAD 51,000 55,373 50,886 0.1 Regional Municipality of York 4.05% May 01/34 CAD 42,000 50,999 49,696 0.1 Province of Saskatchewan 3.75% Mar 05/54 CAD 40,000 52,548 49,683 0.1 City of Montreal 2.40% Dec 01/41 CAD 51,000 48,596 48,869 0.1 Province of Quebec 0.00% Apr 01/35 CAD 69,000 47,513 48,526 0.1 Province of New Brunswick 4.80% Jun 03/41 CAD 35,000 46,840 47,193 0.1 Province of New Brunswick 3.55% Jun 03/55 CAD 38,000 48,966 44,930 0.1 Ontario Power Generation, Inc. 2.95% Feb 21/51 CAD 48,000 46,728 44,659 0.1 Province of Newfoundland 4.65% Oct 17/40 CAD 34,000 44,973 43,325 0.1 City of Montreal 4.10% Dec 01/34 CAD 36,000 42,491 43,047 0.1 Regional Municipality of Peel 5.10% Jun 29/40 CAD 30,000 40,385 40,926 0.1 Regional Municipality of Peel 3.85% Oct 30/42 CAD 33,000 40,874 39,187 0.1 Regional Municipality of York 3.65% May 13/33 CAD 34,000 38,070 38,657 0.1 City of Toronto 2.90% Apr 29/51 CAD 37,000 36,741 37,512 0.1 South Coast British Columbia Transportation Authority 4.45% Jun 09/44 CAD 29,000 37,693 37,375 0.1 City of Ottawa 3.10% Jul 27/48 CAD 35,000 37,171 37,116 0.1 City of Ottawa 3.25% Nov 10/47 CAD 34,000 39,264 36,957 0.1 EPCOR Utilities, Inc. 3.55% Nov 27/47 CAD 33,000 37,387 35,143 0.1 Province of Manitoba 3.20% Mar 05/50 CAD 31,000 36,140 34,333 0.1 Province of Newfoundland 5.60% Oct 17/33 CAD 24,000 32,229 31,911 0.1 EPCOR Utilities, Inc. 3.11% Jul 08/49 CAD 31,000 32,835 30,556 0.1 Province of Prince Edward Island 3.60% Jan 17/53 CAD 25,000 31,298 29,283 0.1 Ontario Power Generation, Inc. 4.25% Jan 18/49 CAD 25,000 27,631 29,259 0.1 Fair Hydro Trust 3.52% May 15/38 CAD 26,000 29,043 28,965 0.1 EPCOR Utilities, Inc. 2.90% May 19/50 CAD 29,000 28,499 27,438 0.1 Regional Municipality of York 4.00% May 31/32 CAD 23,000 26,713 26,918 0.1 Province of Manitoba 4.70% Mar 05/50 CAD 19,000 27,332 26,689 0.1 Province of Ontario 5.70% Dec 02/39 CAD 18,000 24,639 26,626 0.1 City of Ottawa 4.60% Jul 14/42 CAD 20,000 26,295 26,157 0.1 Province of Saskatchewan 2.80% Dec 02/52 CAD 25,000 25,872 25,840 0.0 Ontario Infrastructure and Lands Corp. 4.70% Jun 01/37 CAD 20,000 25,528 25,367 0.0 Newfoundland & Labrador Hydro 3.60% Dec 01/45 CAD 22,000 25,313 24,403 0.0 City of Ottawa 2.50% May 11/51 CAD 26,000 25,876 24,402 0.0 EPCOR Utilities, Inc. 4.55% Feb 28/42 CAD 20,000 24,823 24,144 0.0 Province of Manitoba 2.85% Sep 05/46 CAD 23,000 23,253 23,934 0.0 Province of Manitoba 4.10% Mar 05/41 CAD 19,000 24,436 23,671 0.0 Ontario Power Generation, Inc. 3.65% Sep 13/50 CAD 22,000 23,813 23,373 0.0 Province of Alberta 4.50% Dec 01/40 CAD 15,000 18,852 19,403 0.0 City of Toronto 2.60% Sep 24/39 CAD 15,000 16,275 15,021 0.0 City of Toronto 4.70% Jun 10/41 CAD 10,000 13,685 13,120 0.0

44 Vanguard Canadian Long-Term Bond Index ETF

Description Currency Par Value Cost ($) Fair Value ($) % of Net Assets Province of Manitoba 4.40% Mar 05/42 CAD 10,000 13,422 12,977 0.0 Province of Nova Scotia 6.60% Dec 01/31 CAD 8,000 11,560 11,363 0.0 City of Toronto 3.20% Aug 01/48 CAD 9,000 10,350 9,694 0.0 Province of British Columbia 5.40% Jun 18/35 CAD 6,000 8,690 8,284 0.0 Province of Saskatchewan 3.40% Feb 03/42 CAD 5,000 5,609 5,719 0.0 City of Toronto 4.15% Mar 10/44 CAD 4,000 5,153 4,940 0.0 Province of Saskatchewan 5.60% Sep 05/35 CAD 3,000 4,370 4,196 0.0 Province of Manitoba 3.15% Sep 05/52 CAD 3,000 3,445 3,310 0.0 Province of Newfoundland 5.70% Oct 17/35 CAD 1,000 1,334 1,369 0.0 City of Toronto 3.25% Jun 24/46 CAD 1,000 1,141 1,081 0.0 36,743,405 35,120,905 67.9 Utilities Hydro One, Inc. 3.63% Jun 25/49 CAD 74,000 84,214 80,643 0.2 Hydro One, Inc. 4.89% Mar 13/37 CAD 64,000 83,178 79,759 0.2 CU, Inc. 4.54% Oct 24/41 CAD 64,000 81,700 77,016 0.1 Hydro One, Inc. 2.71% Feb 28/50 CAD 77,000 70,928 70,867 0.1 AltaLink LP 3.99% Jun 30/42 CAD 59,000 71,098 67,125 0.1 Alberta Powerline LP 4.07% Mar 01/54 CAD 58,277 65,307 64,906 0.1 Hydro One, Inc. 3.91% Feb 23/46 CAD 56,000 67,567 63,283 0.1 CU, Inc. 3.95% Nov 23/48 CAD 55,000 68,855 62,544 0.1 Bruce Power LP 4.13% Jun 21/33 CAD 51,000 57,746 56,994 0.1 CU, Inc. 3.81% Sep 10/42 CAD 50,000 57,080 54,795 0.1 CU, Inc. 4.72% Sep 09/43 CAD 44,000 55,477 54,544 0.1 Capital Power Corp. 3.15% Oct 01/32 CAD 54,000 53,284 53,047 0.1 Northwestern Hydro Acquisition Co. III LP 3.94% Dec 31/38 CAD 49,000 52,947 52,285 0.1 Hydro One, Inc. 6.35% Jan 31/34 CAD 38,000 53,122 52,172 0.1 Nova Scotia Power, Inc. 5.61% Jun 15/40 CAD 39,000 54,374 51,725 0.1 Hydro One, Inc. 6.59% Apr 22/43 CAD 32,000 51,266 49,240 0.1 Bruce Power LP 4.75% Jun 21/49 CAD 39,000 46,223 47,008 0.1 AltaLink LP 3.72% Dec 03/46 CAD 42,000 48,155 46,500 0.1 Enbridge Gas, Inc. 3.65% Apr 01/50 CAD 42,000 44,045 45,574 0.1 CU, Inc. 4.09% Sep 02/44 CAD 39,000 45,184 44,647 0.1 CU, Inc. 3.96% Jul 27/45 CAD 38,000 42,815 42,892 0.1 Northwestern Hydro Acquisition Co. II LP 3.88% Dec 31/36 CAD 39,000 41,764 42,752 0.1 North Battleford Power LP 4.96% Dec 31/32 CAD 35,721 40,683 41,128 0.1 CU, Inc. 3.76% Nov 19/46 CAD 37,000 41,432 40,667 0.1 Hydro One, Inc. 5.49% Jul 16/40 CAD 30,000 39,632 40,388 0.1 Enbridge Gas, Inc. 6.05% Sep 02/38 CAD 29,000 42,350 40,067 0.1 Enbridge Gas, Inc. 5.21% Feb 25/36 CAD 31,000 40,310 38,885 0.1 Enbridge Gas, Inc. 4.88% Jun 21/41 CAD 31,000 40,476 38,592 0.1 Enbridge Gas, Inc. 4.20% Jun 02/44 CAD 33,000 38,836 38,292 0.1 Enbridge Gas, Inc. 4.95% Nov 22/50 CAD 27,000 37,170 35,984 0.1 CU, Inc. 2.96% Sep 07/49 CAD 37,000 37,514 35,507 0.1 Hydro One, Inc. 6.93% Jun 01/32 CAD 25,000 37,095 35,027 0.1 Enbridge Gas, Inc. 4.00% Aug 22/44 CAD 31,000 36,888 35,022 0.1 Hydro One, Inc. 5.36% May 20/36 CAD 25,000 31,431 32,364 0.1 Hydro One, Inc. 4.39% Sep 26/41 CAD 27,000 32,297 32,198 0.1 Arrow Lakes Power Corp. 5.52% Apr 05/41 CAD 25,871 33,073 31,470 0.1 Brookfield Renewable Partners ULC 3.33% Aug 13/50 CAD 31,000 30,866 29,805 0.1 Algonquin Power Co. 2.85% Jul 15/31 CAD 29,000 29,202 29,440 0.1 Brookfield Infrastructure Finance ULC 2.86% Sep 01/32 CAD 29,000 29,415 28,461 0.1 Kingston Solar LP 3.57% Jul 31/35 CAD 26,636 26,820 27,915 0.1 Hydro One, Inc. 5.00% Oct 19/46 CAD 21,000 27,698 27,821 0.1 Hydro One, Inc. 3.72% Nov 18/47 CAD 25,000 27,051 27,561 0.1 Enbridge Gas, Inc. 3.01% Aug 09/49 CAD 27,000 26,207 26,103 0.0 AltaLink LP 4.92% Sep 17/43 CAD 20,000 27,119 25,900 0.0 Hydro One, Inc. 4.59% Oct 09/43 CAD 21,000 25,603 25,869 0.0 Nova Scotia Power, Inc. 3.57% Apr 05/49 CAD 24,000 26,259 25,166 0.0 CU, Inc. 3.55% Nov 22/47 CAD 23,000 23,311 24,471 0.0 Enbridge Gas, Inc. 3.51% Nov 29/47 CAD 23,000 24,598 24,287 0.0 Nova Scotia Power, Inc. 3.31% Apr 25/50 CAD 23,000 23,423 23,007 0.0 Brookfield Renewable Partners ULC 4.29% Nov 05/49 CAD 20,000 22,764 22,582 0.0 Clover LP 4.22% Mar 31/34 CAD 20,180 21,306 21,856 0.0 Alberta Powerline LP 4.07% Dec 01/53 CAD 18,777 20,981 20,949 0.0 AltaLink LP 4.09% Jun 30/45 CAD 18,000 19,919 20,941 0.0 Clover LP 4.22% Jun 30/34 CAD 19,065 20,330 20,660 0.0 Nova Scotia Power, Inc. 4.50% Jul 20/43 CAD 16,000 19,091 18,928 0.0 Hydro One, Inc. 4.17% Jun 06/44 CAD 15,000 17,088 17,482 0.0 Hydro One, Inc. 3.79% Jul 31/62 CAD 10,000 12,021 11,218 0.0

45 Vanguard Canadian Long-Term Bond Index ETF

Description Currency Par Value Cost ($) Fair Value ($) % of Net Assets Hydro One, Inc. 6.03% Mar 03/39 CAD 7,000 9,555 9,807 0.0 2,336,143 2,286,138 4.4 Total investments 53,683,679 51,338,482 99.3 Other assets and liabilities (net) 356,556 0.7 Total net assets attributable to holders of redeemable units 51,695,038 100.0

Fund-Specific Notes—Concentration Risk As at June 30, 2021 (unaudited), and December 31, 2020 % of net assets attributable to holders of redeemable units

June 30, December 31, Sector Allocation 2021 2020 Fixed income Provincials/Municipals 67.9 66.7 Government 14.4 15.1 Industrial 9.9 9.5 Utilities 4.4 4.7 Government-related Agencies 1. 4 2. 0 Financial 1. 3 1. 2 Other assets and liabilities (net) 0.7 0.8 100.0 100.0

46 Vanguard Canadian Short-Term Bond Index ETF

Statement of Financial Position As at June 30, 2021 (unaudited), and December 31, 2020

June 30, December 31, 2021 2020 Assets Current assets Investments $1,296,761,147 $1,204,145,970 Cash — 3,990,468 Amounts receivable for redeemable units issued 7,227,810 — Amounts receivable for investments sold 102,220,207 44,635,696 Interest receivable 5,698,843 5,583,599 Total assets 1,411,908,007 1,258,355,733 Liabilities Current liabilities Bank overdraft 2,332,433 — Amounts payable for investments purchased 137,426,121 46,999,189 Distributions payable 2,286,874 1,510,785 Accrued expenses and other liabilities 70,135 29,773 Total liabilities excluding net assets attributable to holders of redeemable units 142,115,563 48,539,747 Total net assets attributable to holders of redeemable units $1,269,792,444 $1,209,815,986 Number of redeemable units outstanding (Note 9) 52,800,000 49,500,000 Net assets attributable to holders of redeemable units per unit $24.05 $24.44

Statement of Comprehensive Income For the six months ended June 30, 2021, and June 30, 2020 (unaudited)

2021 2020 Income Net gain (loss) on investments Interest for distribution purposes $13,083,437 $13,961,247 Net realized gain (loss) on sale of investments 1,136,875 3,900,020 Change in unrealized appreciation/depreciation of investments (20,663,423) 27,228,445 Net gain (loss) on investments (6,443,111) 45,089,712 Total income (net) (6,443,111) 45,089,712 Expenses (Note 10) Management fees 685,946 653,288 Independent Review Committee fees 1,341 1,352 Foreign withholding taxes 505 103 Total expenses 687,792 654,743 Expenses absorbed or waived by manager (1,341) (1,352) Net expenses 686,451 653,391 Increase (decrease) in net assets attributable to holders of redeemable units $(7,129,562) $44,436,321 Weighted average number of redeemable units 50,493,923 48,401,099 Increase (decrease) in net assets attributable to holders of redeemable units per unit $(0.14) $0.92

The accompanying notes are an integral part of the financial statements.

47 Vanguard Canadian Short-Term Bond Index ETF

Statement of Changes in Net Assets Attributable to Holders of Redeemable Units For the six months ended June 30, 2021, and June 30, 2020 (unaudited)

2021 2020 Net assets attributable to holders of redeemable units, beginning of period $1,209,815,986 $1,143,648,006 Increase (decrease) in net assets attributable to holders of redeemable units $(7,129,562) $44,436,321 Distributions to holders of redeemable units Net investment income (13,095,080) (14,062,793) Total distributions to holders of redeemable units (13,095,080) (14,062,793) Redeemable unit transactions Proceeds from issuance of redeemable units 230,845,400 215,265,250 Payment for redeemable units redeemed (150,644,300) (224,541,860) Net redeemable unit transactions 80,201,100 (9,276,610) Net assets attributable to holders of redeemable units, end of period $1,269,792,444 $1,164,744,924

Statement of Cash Flows For the six months ended June 30, 2021, and June 30, 2020 (unaudited)

2021 2020 Cash flows from (used in) operating activities Increase (decrease) in net assets attributable to holders of redeemable units $(7,129,562) $44,436,321 Adjustments for: Net realized (gain) loss on sale of investments (1,136,875) (3,900,020) Change in unrealized appreciation/depreciation of investments 20,663,423 (27,228,445) Purchase of investments1 (282,570,288) (443,057,331) 2 Proceeds from sale of investments 275,611,845 446,339,218 Change in working capital (74,882) 293,536 Net cash from (used in) operating activities 5,363,661 16,883,279 Cash flows from (used in) financing activities 1 Proceeds from issuance of redeemable units 1,163,056 1,795,340 Distributions to holders of redeemable units, net of reinvested distributions (12,318,991) (13,411,456) 2 Payment for redeemable units redeemed (530,627) (2,306,855) Net cash from (used in) financing activities (11,686,562) (13,922,971) Net increase (decrease) in cash during the period $(6,322,901) $2,960,308 Cash, beginning of period $3,990,468 $1,217,279 Cash (overdraft), end of period $(2,332,433) $4,177,587 Supplemental cash flow information relating to operating activities Interest received, net of foreign withholding taxes, if applicable $12,967,688 $14,220,072

1 Excludes in-kind transactions of $222,454,534 and $213,469,910 for the periods ended June 30, 2021 and 2020. 2 Excludes in-kind transactions of $150,113,673 and $222,235,005 for the periods ended June 30, 2021 and 2020.

The accompanying notes are an integral part of the financial statements.

48 Vanguard Canadian Short-Term Bond Index ETF

Schedule of Investment Portfolio As at June 30, 2021 (unaudited)

Description Currency Par Value Cost ($) Fair Value ($) % of Net Assets Fixed income Financial Bank of Nova Scotia 2.38% May 01/23 CAD 5,736,000 5,845,684 5,889,438 0.5 Toronto-Dominion Bank 3.11% Apr 22/30 CAD 4,505,000 4,678,094 4,745,702 0.4 Bank of Montreal 2.89% Jun 20/23 CAD 4,324,000 4,416,240 4,500,592 0.4 Royal Bank of Canada 2.61% Nov 01/24 CAD 3,899,000 4,020,724 4,063,421 0.3 Bank of Nova Scotia 2.49% Sep 23/24 CAD 3,696,000 3,804,730 3,836,707 0.3 Toronto-Dominion Bank 3.23% Jul 24/24 CAD 3,604,000 3,822,850 3,835,593 0.3 Royal Bank of Canada 2.36% Dec 05/22 CAD 3,561,000 3,618,569 3,649,028 0.3 Bank of Montreal 2.85% Mar 06/24 CAD 3,353,000 3,501,236 3,504,120 0.3 Toronto-Dominion Bank 3.01% May 30/23 CAD 3,324,000 3,411,457 3,464,373 0.3 Royal Bank of Canada 2.35% Jul 02/24 CAD 3,221,000 3,282,449 3,327,325 0.3 Toronto-Dominion Bank 1.91% Jul 18/23 CAD 3,202,000 3,196,027 3,273,244 0.3 Toronto-Dominion Bank 2.85% Mar 08/24 CAD 3,092,000 3,173,625 3,234,139 0.3 Royal Bank of Canada 2.95% May 01/23 CAD 3,060,000 3,128,139 3,182,063 0.3 Toronto-Dominion Bank 1.13% Dec 09/25 CAD 3,197,000 3,194,681 3,138,974 0.2 Bank of Montreal 2.28% Jul 29/24 CAD 2,980,000 3,010,618 3,072,767 0.2 Royal Bank of Canada 3.30% Sep 26/23 CAD 2,923,000 2,994,271 3,070,524 0.2 Canadian Imperial Bank of Commerce 2.00% Apr 17/25 CAD 2,935,000 3,007,518 2,996,400 0.2 Bank of Nova Scotia 3.89% Jan 18/29 CAD 2,790,000 2,892,090 2,970,150 0.2 Toronto-Dominion Bank 3.22% Jul 25/29 CAD 2,803,000 2,911,092 2,951,475 0.2 Canadian Imperial Bank of Commerce 1.10% Jan 19/26 CAD 3,020,000 2,994,845 2,950,782 0.2 Bank of Montreal 2.70% Sep 11/24 CAD 2,800,000 2,920,076 2,937,928 0.2 Toronto-Dominion Bank 3.59% Sep 14/28 CAD 2,748,000 2,814,956 2,892,078 0.2 Royal Bank of Canada 1.94% May 01/25 CAD 2,830,000 2,877,885 2,883,996 0.2 Bank of Montreal 2.27% Jul 11/22 CAD 2,790,000 2,803,429 2,842,424 0.2 Toronto-Dominion Bank 2.50% Dec 02/24 CAD 2,690,000 2,816,331 2,795,475 0.2 Canadian Imperial Bank of Commerce 2.95% Jun 19/29 CAD 2,635,000 2,685,404 2,747,304 0.2 Bank of Montreal 2.37% Feb 03/25 CAD 2,640,000 2,725,638 2,730,473 0.2 Canadian Imperial Bank of Commerce 3.30% May 26/25 CAD 2,523,000 2,758,416 2,721,182 0.2 Wells Fargo & Co. 2.57% May 01/26 CAD 2,565,000 2,606,722 2,653,544 0.2 Canadian Imperial Bank of Commerce 2.30% Jul 11/22 CAD 2,594,000 2,632,462 2,643,468 0.2 Bank of Nova Scotia 2.36% Nov 08/22 CAD 2,548,000 2,579,111 2,608,464 0.2 Canadian Imperial Bank of Commerce 3.45% Apr 04/28 CAD 2,399,000 2,443,853 2,497,719 0.2 Canadian Imperial Bank of Commerce 2.35% Aug 28/24 CAD 2,395,000 2,426,896 2,474,107 0.2 HSBC Holdings plc 3.20% Dec 05/23 CAD 2,269,000 2,325,142 2,377,776 0.2 Bank of Nova Scotia 2.84% Jul 03/29 CAD 2,269,000 2,307,267 2,360,963 0.2 Canadian Imperial Bank of Commerce 2.97% Jul 11/23 CAD 2,204,000 2,278,032 2,299,191 0.2 HSBC Bank Canada 2.54% Jan 31/23 CAD 2,227,000 2,245,607 2,286,951 0.2 Toronto-Dominion Bank 4.86% Mar 04/31 CAD 1,945,000 2,221,929 2,205,863 0.2 Royal Bank of Canada 2.74% Jul 25/29 CAD 2,068,000 2,121,891 2,146,708 0.2 Royal Bank of Canada 2.88% Dec 23/29 CAD 2,040,000 2,113,223 2,129,658 0.2 Bank of Nova Scotia 2.29% Jun 28/24 CAD 2,028,000 2,077,379 2,100,420 0.2 Royal Bank of Canada 2.33% Dec 05/23 CAD 2,024,000 2,037,870 2,092,877 0.2 Bank of Nova Scotia 2.16% Feb 03/25 CAD 2,030,000 2,075,128 2,085,541 0.2 Canadian Imperial Bank of Commerce 2.43% Jun 09/23 CAD 1,985,000 1,998,690 2,042,347 0.2 Royal Bank of Canada 1.59% May 04/26 CAD 2,015,000 2,017,637 2,008,874 0.2 National Bank of Canada 2.55% Jul 12/24 CAD 1,924,000 1,970,108 1,998,286 0.2 Toronto-Dominion Bank 1.94% Mar 13/25 CAD 1,928,000 1,924,231 1,967,312 0.2 Canadian Imperial Bank of Commerce 2.47% Dec 05/22 CAD 1,869,000 1,858,309 1,917,968 0.2 Federation des Caisses Desjardins du Quebec 2.42% Oct 04/24 CAD 1,849,000 1,894,585 1,913,900 0.2 Royal Bank of Canada 4.93% Jul 16/25 CAD 1,667,000 1,987,380 1,906,798 0.2 Bank of Montreal 1.55% May 28/26 CAD 1,910,000 1,907,376 1,899,839 0.1 HSBC Bank Canada 1.78% May 20/26 CAD 1,855,000 1,857,436 1,858,135 0.1 Canadian Imperial Bank of Commerce 3.29% Jan 15/24 CAD 1,760,000 1,853,552 1,856,342 0.1 Royal Bank of Canada 2.09% Jun 30/30 CAD 1,825,000 1,841,576 1,852,776 0.1 Wells Fargo & Co. 2.51% Oct 27/23 CAD 1,739,000 1,707,644 1,794,022 0.1 Bank of Nova Scotia 2.98% Apr 17/23 CAD 1,689,000 1,731,683 1,755,986 0.1 HSBC Bank Canada 3.25% Sep 15/23 CAD 1,648,000 1,715,269 1,726,807 0.1 Bank of America Corp. 3.30% Apr 24/24 CAD 1,619,000 1,661,377 1,686,982 0.1 National Australia Bank Ltd. 3.52% Jun 12/30 CAD 1,603,000 1,655,362 1,682,861 0.1 Morgan Stanley 3.00% Feb 07/24 CAD 1,597,000 1,650,794 1,670,558 0.1 Bank of Montreal 2.08% Jun 17/30 CAD 1,635,000 1,646,849 1,659,329 0.1 Bank of America Corp. 2.93% Apr 25/25 CAD 1,580,000 1,602,009 1,650,310 0.1 Wells Fargo & Co. 2.98% May 19/26 CAD 1,565,000 1,650,526 1,644,220 0.1 Manufacturers Life Insurance Co. 3.18% Nov 22/27 CAD 1,515,000 1,565,528 1,563,798 0.1 Federation des Caisses Desjardins du Quebec 1.09% Jan 21/26 CAD 1,590,000 1,588,935 1,552,381 0.1 Manulife Financial Corp. 2.24% May 12/30 CAD 1,515,000 1,533,128 1,551,087 0.1

49 Vanguard Canadian Short-Term Bond Index ETF

Description Currency Par Value Cost ($) Fair Value ($) % of Net Assets HSBC Bank Canada 2.25% Sep 15/22 CAD 1,500,000 1,524,998 1,527,915 0.1 Brookfield Asset Management, Inc. 4.82% Jan 28/26 CAD 1,345,000 1,561,438 1,514,241 0.1 Federation des Caisses Desjardins du Quebec 2.86% May 26/30 CAD 1,450,000 1,474,937 1,509,870 0.1 Canadian Imperial Bank of Commerce 2.01% Jul 21/30 CAD 1,467,000 1,483,748 1,481,347 0.1 Federation des Caisses Desjardins du Quebec 1.99% May 28/31 CAD 1,455,000 1,458,070 1,451,857 0.1 Bank of Montreal 1.76% Mar 10/26 CAD 1,410,000 1,415,376 1,418,700 0.1 Manulife Financial Corp. 3.05% Aug 20/29 CAD 1,307,000 1,362,635 1,371,383 0.1 Federation des Caisses Desjardins du Quebec 2.39% Aug 25/22 CAD 1,328,000 1,345,768 1,356,472 0.1 Sun Life Financial, Inc. 3.05% Sep 19/28 CAD 1,283,000 1,326,592 1,335,667 0.1 Canadian Imperial Bank of Commerce 1.96% Apr 21/31 CAD 1,320,000 1,321,741 1,320,092 0.1 National Bank of Canada 2.58% Feb 03/25 CAD 1,248,000 1,287,431 1,300,316 0.1 Federation des Caisses Desjardins du Quebec 3.06% Sep 11/23 CAD 1,216,000 1,239,586 1,273,371 0.1 Wells Fargo & Co. 3.87% May 21/25 CAD 1,165,000 1,264,948 1,256,732 0.1 Goldman Sachs Group, Inc. 3.31% Oct 31/25 CAD 1,150,000 1,211,859 1,217,390 0.1 National Bank of Canada 2.98% Mar 04/24 CAD 1,160,000 1,217,945 1,216,063 0.1 National Bank of Canada 1.53% Jun 15/26 CAD 1,210,000 1,208,047 1,202,316 0.1 National Bank of Canada 3.18% Feb 01/28 CAD 1,160,000 1,163,884 1,198,141 0.1 Sun Life Financial, Inc. 2.38% Aug 13/29 CAD 1,152,000 1,161,531 1,186,134 0.1 Bank of Montreal 2.88% Sep 17/29 CAD 1,124,000 1,141,214 1,171,759 0.1 National Bank of Canada 1.57% Aug 18/26 CAD 1,170,000 1,183,420 1,170,796 0.1 Manulife Bank of Canada 2.38% Nov 19/24 CAD 968,000 989,905 1,004,600 0.1 Wells Fargo & Co. 3.18% Feb 08/24 CAD 956,000 992,532 1,002,901 0.1 Citigroup, Inc. 4.09% Jun 09/25 CAD 921,000 1,006,091 1,001,726 0.1 Manulife Financial Corp. 3.32% May 09/28 CAD 931,000 963,211 969,013 0.1 Bank of Montreal 4.61% Sep 10/25 CAD 850,000 996,439 962,863 0.1 Ventas Canada Finance Ltd. 2.80% Apr 12/24 CAD 929,000 937,762 962,147 0.1 OMERS Realty Corp. 2.86% Feb 23/24 CAD 902,000 944,584 943,239 0.1 Sun Life Financial, Inc. 2.75% Nov 23/27 CAD 900,000 918,143 922,779 0.1 Brookfield Asset Management, Inc. 5.04% Mar 08/24 CAD 830,000 911,847 905,073 0.1 Bank of America Corp. 3.52% Mar 24/26 CAD 820,000 879,403 877,293 0.1 Allied Properties REIT 1.73% Feb 12/26 CAD 890,000 889,279 877,157 0.1 Choice Properties REIT 3.56% Sep 09/24 CAD 825,000 869,453 875,482 0.1 Central 1 Credit Union 2.60% Nov 07/22 CAD 817,000 820,228 836,731 0.1 Lloyds Banking Group plc 3.50% Feb 03/25 CAD 767,000 809,998 816,817 0.1 Manulife Bank of Canada 1.50% Jun 25/25 CAD 800,000 803,651 804,040 0.1 H&R REIT 4.07% Jun 16/25 CAD 740,000 769,467 787,656 0.1 Bank of America Corp. 3.41% Sep 20/25 CAD 735,000 776,920 780,511 0.1 Brookfield Property Finance ULC 4.35% Jul 03/23 CAD 749,000 772,922 778,765 0.1 Athene Global Funding 2.10% Sep 24/25 CAD 765,000 765,811 774,823 0.1 Brookfield Property Finance ULC 3.93% Aug 24/25 CAD 745,000 753,037 771,462 0.1 RioCan REIT 3.29% Feb 12/24 CAD 738,000 769,442 771,225 0.1 Manulife Bank of Canada 2.84% Jan 12/23 CAD 739,000 761,747 762,382 0.1 Canadian Western Bank 1.57% Sep 14/23 CAD 755,000 761,314 761,923 0.1 OMERS Realty Corp. 3.36% Jun 05/23 CAD 723,000 748,732 757,155 0.1 Canadian Western Bank 1.93% Apr 16/26 CAD 750,000 751,224 751,597 0.1 Hyundai Capital Canada, Inc. 2.01% May 12/26 CAD 745,000 745,000 746,706 0.1 Ivanhoe Cambridge II, Inc. 2.91% Jun 27/23 CAD 702,000 722,927 728,030 0.1 Wells Fargo Canada Corp. 3.46% Jan 24/23 CAD 696,600 720,915 725,244 0.1 Laurentian Bank of Canada 3.45% Jun 27/23 CAD 690,000 709,738 721,747 0.1 CI Financial Corp. 3.76% May 26/25 CAD 670,000 681,319 714,320 0.1 Barclays plc 2.17% Jun 23/27 CAD 710,000 709,786 709,311 0.1 Choice Properties REIT 3.55% Jan 10/25 CAD 665,000 703,797 707,374 0.1 RioCan REIT 1.97% Jun 15/26 CAD 715,000 708,822 706,820 0.1 Central 1 Credit Union 2.58% Dec 06/23 CAD 680,000 678,933 703,596 0.1 Manulife Bank of Canada 1.34% Feb 26/26 CAD 700,000 695,508 692,769 0.1 Industrial Alliance Insurance & Financial Services, Inc. 3.30% Sep 15/28 CAD 646,000 678,002 675,096 0.1 Canadian Western Bank 2.60% Sep 06/24 CAD 650,000 659,783 672,626 0.1 RioCan REIT 2.58% Feb 12/25 CAD 635,000 644,710 651,789 0.1 Air Lease Corp. 2.63% Dec 05/24 CAD 627,000 620,669 642,945 0.1 Granite REIT Holdings LP 3.87% Nov 30/23 CAD 600,000 635,995 636,252 0.1 OMERS Realty Corp. 3.33% Nov 12/24 CAD 568,000 604,705 606,993 0.0 Fairfax Financial Holdings Ltd. 4.95% Mar 03/25 CAD 544,000 578,173 602,567 0.0 First Capital REIT 3.90% Oct 30/23 CAD 570,000 590,729 599,600 0.0 AIMCo Realty Investors LP 2.27% Jun 26/24 CAD 579,000 586,189 596,191 0.0 Canadian Western Bank 2.92% Dec 15/22 CAD 575,000 586,348 592,273 0.0 BCI QuadReal Realty 1.07% Feb 04/26 CAD 605,000 588,834 591,896 0.0 BCI QuadReal Realty 1.06% Mar 12/24 CAD 590,000 590,000 589,817 0.0 OMERS Realty Corp. 1.30% Sep 22/23 CAD 580,000 581,973 584,414 0.0 H&R REIT 3.37% Jan 30/24 CAD 560,000 565,229 580,927 0.0 First Capital REIT 3.60% May 06/26 CAD 545,000 575,204 572,588 0.0 iA Financial Corp. Inc. 2.40% Feb 21/30 CAD 550,000 554,253 564,834 0.0 CI Financial Corp. 3.22% Jul 22/24 CAD 536,000 539,887 559,697 0.0 Ivanhoe Cambridge II, Inc. 2.30% Dec 12/24 CAD 540,000 552,941 557,685 0.0

50 Vanguard Canadian Short-Term Bond Index ETF

Description Currency Par Value Cost ($) Fair Value ($) % of Net Assets Intact Financial Corp. 1.21% May 21/24 CAD 540,000 540,658 539,401 0.0 Equitable Bank 1.77% Sep 21/23 CAD 530,000 534,537 534,516 0.0 BCI QuadReal Realty 1.68% Mar 03/25 CAD 527,000 528,160 533,572 0.0 SmartCentres REIT 1.74% Dec 16/25 CAD 530,000 531,667 522,993 0.0 Laurentian Bank of Canada 3.00% Sep 12/22 CAD 508,000 505,773 521,452 0.0 Original Wempi, Inc. 4.31% Feb 13/24 CAD 504,000 523,845 518,697 0.0 TMX Group Ltd. 3.00% Dec 11/24 CAD 489,000 505,385 515,372 0.0 Intact Financial Corp. 3.69% Mar 24/25 CAD 461,000 496,749 497,036 0.0 First Capital REIT 4.79% Aug 30/24 CAD 455,000 492,312 494,995 0.0 RioCan REIT 2.83% Oct 03/22 CAD 476,000 484,807 486,800 0.0 Laurentian Bank of Canada 1.15% Jun 03/24 CAD 480,000 481,646 476,779 0.0 Athene Global Funding 1.25% Apr 09/24 CAD 475,000 474,771 472,829 0.0 Choice Properties LP 3.60% Sep 20/22 CAD 443,000 450,527 454,726 0.0 RioCan REIT 3.21% Sep 29/23 CAD 420,000 427,108 436,313 0.0 Canadian Western Bank 2.61% Jan 30/25 CAD 420,000 420,983 434,780 0.0 Bow Centre Street LP 3.80% Jun 13/23 CAD 394,000 390,492 400,158 0.0 First Capital REIT 4.32% Jul 31/25 CAD 350,000 371,616 378,532 0.0 242,309,285 244,524,825 19.3 Government Government of Canada 0.25% May 01/23 CAD 72,200,000 71,996,584 71,936,921 5.7 Government of Canada 0.25% Feb 01/23 CAD 46,990,000 46,987,398 46,887,495 3.7 Government of Canada 0.50% Sep 01/25 CAD 36,944,000 37,039,886 36,364,060 2.9 Government of Canada 1.00% Sep 01/22 CAD 27,650,000 27,437,265 27,871,714 2.2 Government of Canada 0.25% Mar 01/26 CAD 28,530,000 27,537,853 27,584,706 2.2 Government of Canada 0.25% Apr 01/24 CAD 27,690,000 27,527,537 27,389,149 2.2 Government of Canada 2.00% Sep 01/23 CAD 22,201,000 23,061,897 22,912,230 1.8 Government of Canada 1.50% Jun 01/23 CAD 19,106,000 19,375,173 19,488,533 1.5 Government of Canada 1.75% Mar 01/23 CAD 17,925,000 18,268,278 18,324,671 1.4 Government of Canada 0.25% Aug 01/22 CAD 17,459,000 17,452,632 17,453,230 1.4 Government of Canada 0.25% Nov 01/22 CAD 17,173,000 17,173,914 17,150,069 1.3 Government of Canada 2.50% Jun 01/24 CAD 16,149,000 17,120,393 17,012,504 1.3 Government of Canada 1.50% Sep 01/24 CAD 13,967,000 14,376,568 14,317,174 1.1 Government of Canada 1.25% Mar 01/25 CAD 11,997,000 12,401,094 12,201,493 1.0 Government of Canada 2.25% Jun 01/25 CAD 10,370,000 11,117,960 10,950,932 0.9 Government of Canada 2.25% Mar 01/24 CAD 10,070,000 10,519,234 10,508,609 0.8 Government of Canada 1.50% Jun 01/26 CAD 8,884,000 9,102,991 9,103,617 0.7 Government of Canada 0.25% Aug 01/23 CAD 6,839,000 6,803,574 6,803,057 0.5 Government of Canada 9.00% Jun 01/25 CAD 1,625,000 2,226,218 2,136,235 0.2 417,526,449 416,396,399 32.8 Government-related Agencies Canada Housing Trust No. 1 2.90% Jun 15/24 CAD 26,539,000 28,239,808 28,186,111 2.2 Canada Housing Trust No. 1 2.40% Dec 15/22 CAD 24,476,000 25,088,931 25,189,027 2.0 Canada Housing Trust No. 1 1.95% Dec 15/25 CAD 20,070,000 21,307,444 20,782,646 1.6 Canada Housing Trust No. 1 2.35% Sep 15/23 CAD 18,090,000 19,003,608 18,793,642 1.5 Canada Housing Trust No. 1 2.35% Jun 15/23 CAD 16,425,610 16,867,611 17,011,456 1.3 Canada Housing Trust No. 1 0.95% Jun 15/25 CAD 16,744,000 16,973,134 16,699,536 1.3 Canada Housing Trust No. 1 1.80% Dec 15/24 CAD 16,005,000 16,212,732 16,498,339 1.3 Canada Housing Trust No. 1 2.55% Dec 15/23 CAD 15,370,000 15,919,538 16,088,906 1.3 Canada Housing Trust No. 1 1.25% Jun 15/26 CAD 15,490,000 15,507,054 15,504,921 1.2 Canada Housing Trust No. 1 2.55% Mar 15/25 CAD 7,895,000 8,492,689 8,352,629 0.7 Canada Housing Trust No. 1 2.25% Dec 15/25 CAD 7,825,000 8,381,930 8,204,596 0.6 Canada Housing Trust No. 1 3.15% Sep 15/23 CAD 5,740,000 6,123,042 6,063,339 0.5 PSP Capital, Inc. 3.29% Apr 04/24 CAD 2,698,000 2,915,752 2,881,754 0.2 PSP Capital, Inc. 0.90% Jun 15/26 CAD 2,315,000 2,273,006 2,272,173 0.2 PSP Capital, Inc. 2.09% Nov 22/23 CAD 2,183,000 2,216,212 2,256,243 0.2 KfW 0.75% Feb 19/26 CAD 2,220,000 2,168,626 2,181,183 0.2 PSP Capital, Inc. 3.00% Nov 05/25 CAD 1,847,000 2,043,774 1,989,378 0.1 KfW 5.05% Feb 04/25 CAD 1,232,000 1,444,985 1,407,683 0.1 Export Development Canada 1.65% Jul 31/24 CAD 845,000 861,686 866,711 0.1 Canada Post Corp. 4.08% Jul 16/25 CAD 755,000 875,112 843,876 0.1 Export Development Canada 1.80% Sep 01/22 CAD 796,000 810,567 809,230 0.1 CPPIB Capital, Inc. 0.63% Sep 01/22 CAD 795,000 796,590 797,393 0.1 CPPIB Capital, Inc. 0.75% Jun 15/24 CAD 715,000 716,509 712,505 0.0 215,240,340 214,393,277 16.9 Government-related Supranational International Bank for Reconstruction & Development 1.90% Jan 16/25 CAD 2,750,000 2,828,266 2,838,935 0.2 International Bank for Reconstruction & Development 1.80% Jul 26/24 CAD 2,744,000 2,769,789 2,823,247 0.2 International Bank for Reconstruction & Development 0.63% Jan 14/26 CAD 2,310,000 2,300,746 2,254,791 0.2

51 Vanguard Canadian Short-Term Bond Index ETF

Description Currency Par Value Cost ($) Fair Value ($) % of Net Assets International Bank for Reconstruction & Development 0.75% Jul 02/25 CAD 2,280,000 2,288,802 2,251,887 0.2 Asian Development Bank 0.75% Feb 10/26 CAD 1,965,000 1,912,152 1,929,885 0.1 Inter-American Development Bank 4.40% Jan 26/26 CAD 1,635,000 1,930,771 1,868,789 0.1 International Bank for Reconstruction & Development 2.50% Aug 03/23 CAD 1,510,000 1,531,917 1,570,249 0.1 International Bank for Reconstruction & Development 2.25% Jan 17/23 CAD 1,465,000 1,469,937 1,505,405 0.1 Inter-American Development Bank 0.75% Oct 15/25 CAD 1,490,000 1,493,109 1,466,324 0.1 International Finance Corp. 1.38% Sep 13/24 CAD 1,198,000 1,194,821 1,217,300 0.1 Inter-American Development Bank 1.00% Jun 29/26 CAD 1,180,000 1,166,666 1,170,595 0.1 Inter-American Development Bank 1.70% Oct 10/24 CAD 951,000 956,103 974,975 0.1 International Finance Corp. 2.38% Jul 19/23 CAD 763,000 771,932 791,170 0.1 International Finance Corp. 0.63% Sep 16/25 CAD 800,000 796,590 785,264 0.1 23,411,601 23,448,816 1.8 Industrial Apple, Inc. 2.51% Aug 19/24 CAD 3,992,000 4,143,468 4,158,985 0.3 Thomson Reuters Corp. 2.24% May 14/25 CAD 2,203,000 2,249,879 2,259,771 0.2 Bell Canada, Inc. 2.70% Feb 27/24 CAD 2,067,000 2,099,887 2,140,130 0.2 AT&T, Inc. 4.00% Nov 25/25 CAD 1,900,000 2,134,662 2,081,583 0.2 TWDC Enterprises 18 Corp. 2.76% Oct 07/24 CAD 1,977,000 2,060,961 2,070,117 0.2 Bell Canada, Inc. 3.35% Mar 12/25 CAD 1,840,000 1,958,412 1,954,338 0.2 TELUS Corp. 3.35% Apr 01/24 CAD 1,640,000 1,739,894 1,724,066 0.1 McDonald's Corp. 3.13% Mar 04/25 CAD 1,583,000 1,681,653 1,678,898 0.1 Bell Canada, Inc. 3.35% Mar 22/23 CAD 1,512,000 1,539,566 1,563,967 0.1 TransCanada PipeLines Ltd. 3.30% Jul 17/25 CAD 1,295,000 1,401,292 1,375,691 0.1 Toyota Credit Canada, Inc. 2.31% Oct 23/24 CAD 1,294,000 1,333,673 1,336,728 0.1 Bell Canada, Inc. 3.55% Mar 02/26 CAD 1,225,000 1,322,459 1,315,883 0.1 Cenovus Energy, Inc. 3.55% Mar 12/25 CAD 1,235,000 1,154,105 1,305,333 0.1 Loblaw Cos. Ltd. 4.86% Sep 12/23 CAD 1,209,000 1,308,403 1,297,281 0.1 TELUS Corp. 3.75% Jan 17/25 CAD 1,207,000 1,294,813 1,295,835 0.1 United Parcel Service, Inc. 2.13% May 21/24 CAD 1,242,000 1,271,714 1,275,907 0.1 Honda Canada Finance, Inc. 2.54% Mar 01/23 CAD 1,229,000 1,253,851 1,263,338 0.1 Alimentation Couche-Tard, Inc. 3.06% Jul 26/24 CAD 1,196,000 1,252,999 1,253,504 0.1 BHP Billiton Finance Ltd. 3.23% May 15/23 CAD 1,188,000 1,210,417 1,235,853 0.1 Enbridge, Inc. 3.19% Dec 05/22 CAD 1,191,000 1,228,835 1,229,291 0.1 Bell Canada, Inc. 2.75% Jan 29/25 CAD 1,143,000 1,195,530 1,190,114 0.1 TELUS Corp. 3.75% Mar 10/26 CAD 1,080,000 1,175,204 1,171,044 0.1 TransCanada PipeLines Ltd. 3.69% Jul 19/23 CAD 1,103,000 1,160,514 1,153,992 0.1 Alimentation Couche-Tard, Inc. 3.60% Jun 02/25 CAD 1,074,000 1,165,278 1,150,598 0.1 PepsiCo, Inc. 2.15% May 06/24 CAD 1,113,000 1,144,208 1,144,197 0.1 AT&T, Inc. 2.85% May 25/24 CAD 1,064,000 1,095,401 1,109,071 0.1 Enbridge, Inc. 2.44% Jun 02/25 CAD 1,075,000 1,107,783 1,108,422 0.1 Pembina Pipeline Corp. 2.99% Jan 22/24 CAD 1,011,000 1,035,625 1,050,348 0.1 Rogers Communications, Inc. 4.00% Mar 13/24 CAD 945,000 1,003,144 1,005,272 0.1 Enbridge Pipelines, Inc. 3.45% Sep 29/25 CAD 916,000 1,003,915 983,555 0.1 Mondelez International, Inc. 3.25% Mar 07/25 CAD 922,000 949,218 978,297 0.1 Toyota Credit Canada, Inc. 2.11% Feb 26/25 CAD 945,000 959,740 971,205 0.1 Brookfield Property Finance ULC 4.30% Mar 01/24 CAD 912,000 943,433 954,299 0.1 Pembina Pipeline Corp. 3.54% Feb 03/25 CAD 889,000 940,565 943,611 0.1 Canadian Natural Resources Ltd. 1.45% Nov 16/23 CAD 935,000 937,450 940,545 0.1 VW Credit Canada, Inc. 1.50% Sep 23/25 CAD 931,000 927,926 926,280 0.1 Honda Canada Finance, Inc. 1.34% Mar 17/26 CAD 930,000 916,357 917,910 0.1 Honda Canada Finance, Inc. 3.18% Aug 28/23 CAD 875,000 898,845 914,217 0.1 Bell Canada, Inc. 4.70% Sep 11/23 CAD 843,000 904,498 900,788 0.1 Toyota Credit Canada, Inc. 1.18% Feb 23/26 CAD 910,000 902,168 894,111 0.1 Teranet Holdings LP 3.54% Jun 11/25 CAD 820,000 870,396 871,135 0.1 North West Redwater Partnership / NWR Financing Co. Ltd. 1.20% Dec 01/23 CAD 860,000 860,725 860,662 0.1 Daimler Canada Finance, Inc. 1.65% Sep 22/25 CAD 850,000 851,800 850,875 0.1 Sysco Canada, Inc. 3.65% Apr 25/25 CAD 793,000 810,432 847,638 0.1 North West Redwater Partnership / NWR Financing Co. Ltd. 3.20% Apr 24/26 CAD 800,000 847,620 846,864 0.1 Shaw Communications, Inc. 4.35% Jan 31/24 CAD 776,000 834,270 829,839 0.1 General Motors Financial of Canada Ltd. 3.25% Nov 07/23 CAD 790,000 804,053 826,135 0.1 AltaGas Ltd. 2.16% Jun 10/25 CAD 810,000 822,551 823,705 0.1 VW Credit Canada, Inc. 3.25% Mar 29/23 CAD 787,000 809,960 817,606 0.1 Enbridge, Inc. 3.95% Nov 19/24 CAD 754,000 807,082 811,259 0.1 Sobeys, Inc. 4.70% Aug 08/23 CAD 760,000 831,192 809,598 0.1 Inter Pipeline Ltd. 2.73% Apr 18/24 CAD 778,000 791,876 803,651 0.1 Heathrow Funding Ltd. 3.25% May 21/27 CAD 760,000 786,954 800,364 0.1 Dollarama, Inc. 3.55% Nov 06/23 CAD 759,000 775,189 799,326 0.1 VW Credit Canada, Inc. 2.85% Sep 26/24 CAD 760,000 777,235 794,314 0.1 Cameco Corp. 4.19% Jun 24/24 CAD 743,000 781,770 793,739 0.1

52 Vanguard Canadian Short-Term Bond Index ETF

Description Currency Par Value Cost ($) Fair Value ($) % of Net Assets VW Credit Canada, Inc. 3.70% Nov 14/22 CAD 761,000 784,727 790,489 0.1 TELUS Corp. 3.35% Mar 15/23 CAD 760,000 776,781 785,886 0.1 Shaw Communications, Inc. 3.80% Nov 02/23 CAD 741,000 773,210 782,881 0.1 Pembina Pipeline Corp. 2.56% Jun 01/23 CAD 762,000 772,383 782,223 0.1 Honda Canada Finance, Inc. 2.50% Jun 04/24 CAD 752,000 765,890 779,200 0.1 Pembina Pipeline Corp. 3.77% Oct 24/22 CAD 742,000 778,417 768,682 0.1 Molson Coors International LP 2.84% Jul 15/23 CAD 746,000 745,551 768,470 0.1 AltaGas Ltd. 2.61% Dec 16/22 CAD 738,000 757,004 755,358 0.1 General Motors Financial of Canada Ltd. 1.75% Apr 15/26 CAD 760,000 750,026 752,218 0.1 Toyota Credit Canada, Inc. 2.62% Oct 11/22 CAD 734,000 744,885 751,888 0.1 Nissan Canada, Inc. 1.63% Mar 18/24 CAD 750,000 750,000 747,315 0.1 North West Redwater Partnership / NWR Financing Co. Ltd. 3.20% Jul 22/24 CAD 706,000 739,925 742,486 0.1 BP Capital Markets plc 3.47% May 15/25 CAD 687,000 739,887 738,161 0.1 VW Credit Canada, Inc. 1.20% Sep 25/23 CAD 730,000 730,670 731,256 0.1 General Motors Financial of Canada Ltd. 5.95% May 14/24 CAD 650,000 687,454 730,951 0.1 Loblaw Cos. Ltd. 3.92% Jun 10/24 CAD 675,000 723,761 724,889 0.1 AltaGas Ltd. 3.84% Jan 15/25 CAD 675,000 719,789 723,883 0.1 bcIMC Realty Corp. 2.84% Jun 03/25 CAD 665,000 712,597 699,992 0.1 Enbridge, Inc. 3.94% Jun 30/23 CAD 667,000 704,023 699,516 0.1 Canadian Natural Resources Ltd. 3.55% Jun 03/24 CAD 646,000 675,829 683,061 0.1 ARC Resources Ltd. 2.35% Mar 10/26 CAD 670,000 670,441 675,702 0.1 Daimler Canada Finance, Inc. 3.30% Aug 16/22 CAD 652,000 662,881 670,517 0.0 Reliance LP 3.75% Mar 15/26 CAD 620,000 667,195 664,584 0.0 Saputo, Inc. 3.60% Aug 14/25 CAD 615,000 675,953 660,867 0.0 John Deere Financial, Inc. 1.63% Apr 09/26 CAD 660,000 660,420 659,743 0.0 Toyota Credit Canada, Inc. 2.70% Jan 25/23 CAD 634,000 635,173 652,766 0.0 Reliance LP 3.84% Mar 15/25 CAD 599,000 623,131 642,422 0.0 Toyota Credit Canada, Inc. 3.04% Jul 12/23 CAD 614,000 639,698 639,628 0.0 Magna International, Inc. 3.10% Dec 15/22 CAD 607,000 615,053 625,823 0.0 Canadian Tire Corp. Ltd. 3.17% Jul 06/23 CAD 594,000 606,524 617,267 0.0 Daimler Canada Finance, Inc. 2.54% Aug 21/23 CAD 595,000 594,413 612,868 0.0 Toyota Credit Canada, Inc. 2.35% Jul 18/22 CAD 595,000 592,446 605,823 0.0 Original Wempi, Inc. 4.06% Feb 13/24 CAD 590,819 613,633 604,390 0.0 Greater Toronto Airports Authority 3.04% Sep 21/22 CAD 590,000 604,302 603,841 0.0 Saputo, Inc. 1.42% Jun 19/26 CAD 610,000 596,604 596,214 0.0 Penske Truck Leasing Canada, Inc. 2.85% Dec 07/22 CAD 576,000 583,818 591,062 0.0 AltaGas Ltd. 4.12% Apr 07/26 CAD 535,000 587,687 584,878 0.0 407 International, Inc. 1.80% May 22/25 CAD 560,000 568,128 570,881 0.0 Saputo, Inc. 2.88% Nov 19/24 CAD 540,000 568,843 565,272 0.0 John Deere Financial, Inc. 2.46% Apr 04/24 CAD 541,000 547,922 560,552 0.0 Inter Pipeline Ltd. 2.61% Sep 13/23 CAD 543,000 544,347 558,014 0.0 Canadian National Railway Co. 2.80% Sep 22/25 CAD 530,000 574,816 557,279 0.0 John Deere Financial, Inc. 2.41% Jan 14/25 CAD 535,000 548,473 554,629 0.0 Westcoast Energy, Inc. 3.43% Sep 12/24 CAD 510,000 540,695 540,855 0.0 Honda Canada Finance, Inc. 2.27% Jul 15/22 CAD 515,000 523,008 523,946 0.0 407 International, Inc. 2.47% Sep 08/22 CAD 495,000 499,925 503,301 0.0 AltaGas Ltd. 1.23% Mar 18/24 CAD 505,000 505,000 502,924 0.0 BMW Canada, Inc. 2.41% Nov 27/23 CAD 480,000 494,964 495,259 0.0 Westcoast Energy, Inc. 3.77% Dec 08/25 CAD 455,000 511,670 493,074 0.0 Daimler Canada Finance, Inc. 2.97% Mar 13/24 CAD 469,000 482,840 490,096 0.0 Toyota Credit Canada, Inc. 2.64% Mar 27/24 CAD 470,000 484,365 488,908 0.0 Vancouver Airport Fuel Facilities Corp. 2.17% Jun 23/25 CAD 485,000 484,916 482,619 0.0 Inter Pipeline Ltd. 3.17% Mar 24/25 CAD 460,000 425,616 482,416 0.0 Gibson Energy, Inc. 2.45% Jul 14/25 CAD 465,000 480,829 475,737 0.0 Honda Canada Finance, Inc. 3.44% May 23/25 CAD 440,000 469,468 473,339 0.0 Federated Co-operatives Ltd. 3.92% Jun 17/25 CAD 445,000 473,916 470,178 0.0 John Deere Canada Funding, Inc. 2.70% Jan 17/23 CAD 455,000 459,180 468,814 0.0 Honda Canada Finance, Inc. 2.49% Dec 19/22 CAD 455,000 457,146 466,216 0.0 Caterpillar Financial Services Ltd. 2.09% Sep 12/22 CAD 454,000 457,225 462,440 0.0 NAV Canada 0.94% Feb 09/26 CAD 470,000 458,585 458,711 0.0 Metro, Inc. 2.68% Dec 05/22 CAD 445,000 450,958 455,800 0.0 John Deere Canada Funding, Inc. 2.63% Sep 21/22 CAD 435,000 432,974 445,684 0.0 Saputo, Inc. 2.83% Nov 21/23 CAD 423,000 418,076 438,338 0.0 Cogeco Communications, Inc. 4.18% May 26/23 CAD 414,000 430,054 434,170 0.0 BMW Canada, Inc. 0.63% Jan 16/23 CAD 430,000 429,966 428,860 0.0 AltaGas Ltd. 3.57% Jun 12/23 CAD 392,000 397,566 408,107 0.0 106,654,502 107,314,704 8.4 Provincials/Municipals Province of Ontario 2.60% Jun 02/25 CAD 22,153,000 24,017,811 23,421,212 1.8 Province of Ontario 2.85% Jun 02/23 CAD 18,411,000 19,030,643 19,216,406 1.5 Province of Ontario 3.50% Jun 02/24 CAD 17,756,000 19,268,838 19,116,314 1.5 Province of Ontario 1.75% Sep 08/25 CAD 14,430,000 15,085,448 14,782,356 1.2

53 Vanguard Canadian Short-Term Bond Index ETF

Description Currency Par Value Cost ($) Fair Value ($) % of Net Assets Province of Ontario 2.40% Jun 02/26 CAD 12,925,000 13,596,712 13,595,288 1.1 Province of Quebec 2.75% Sep 01/25 CAD 10,690,000 11,723,732 11,405,188 0.9 Province of Quebec 3.50% Dec 01/22 CAD 10,742,000 11,384,022 11,208,137 0.9 Province of Quebec 3.75% Sep 01/24 CAD 9,862,000 10,810,500 10,751,663 0.8 Province of Quebec 3.00% Sep 01/23 CAD 10,032,000 10,441,279 10,551,509 0.8 Province of Ontario 2.60% Sep 08/23 CAD 7,142,000 7,465,630 7,448,896 0.6 Province of British Columbia 2.85% Jun 18/25 CAD 6,200,000 6,800,301 6,632,841 0.5 Province of Alberta 2.35% Jun 01/25 CAD 6,255,000 6,667,014 6,552,841 0.5 Province of Alberta 2.20% Jun 01/26 CAD 5,785,000 6,030,379 6,028,065 0.5 Province of Manitoba 2.45% Jun 02/25 CAD 5,215,000 5,606,627 5,483,449 0.4 Province of Ontario 2.65% Feb 05/25 CAD 4,591,000 4,916,187 4,860,776 0.4 Province of Ontario 2.30% Sep 08/24 CAD 4,494,000 4,715,218 4,692,571 0.4 Province of Quebec 8.50% Apr 01/26 CAD 3,520,000 4,712,854 4,676,787 0.4 Province of British Columbia 3.30% Dec 18/23 CAD 3,784,000 4,051,358 4,029,268 0.3 Province of Alberta 3.10% Jun 01/24 CAD 3,685,000 3,939,895 3,924,527 0.3 Province of Manitoba 2.55% Jun 02/23 CAD 3,729,000 3,871,821 3,870,525 0.3 Province of Ontario 7.50% Feb 07/24 CAD 2,950,000 3,524,921 3,453,156 0.3 Province of Quebec 9.38% Jan 16/23 CAD 2,963,000 3,670,786 3,365,045 0.3 Hydro-Quebec 9.63% Jul 15/22 CAD 3,067,000 3,755,682 3,357,538 0.3 Province of Ontario 1.95% Jan 27/23 CAD 3,208,000 3,302,594 3,282,764 0.3 Province of Manitoba 2.55% Jun 02/26 CAD 2,660,000 2,816,674 2,816,232 0.2 Province of Manitoba 3.30% Jun 02/24 CAD 2,630,000 2,829,216 2,815,916 0.2 Province of Ontario 9.50% Jul 13/22 CAD 2,525,920 3,078,564 2,761,228 0.2 Province of British Columbia 2.70% Dec 18/22 CAD 2,589,000 2,700,334 2,674,979 0.2 Province of Alberta 2.55% Dec 15/22 CAD 2,418,000 2,510,646 2,491,920 0.2 Province of British Columbia 2.30% Jun 18/26 CAD 2,345,000 2,463,188 2,463,011 0.2 Ontario Electricity Financial Corp. 8.25% Jun 22/26 CAD 1,700,000 2,255,169 2,254,588 0.2 Province of Ontario 8.50% Dec 02/25 CAD 1,710,000 2,246,897 2,241,366 0.2 Province of Alberta 2.65% Sep 01/23 CAD 2,007,000 2,076,638 2,094,871 0.2 Province of Saskatchewan 0.80% Sep 02/25 CAD 2,065,000 2,062,679 2,035,987 0.2 Province of Saskatchewan 3.20% Jun 03/24 CAD 1,876,000 2,023,674 2,003,638 0.2 Municipal Finance Authority of British Columbia 2.50% Apr 19/26 CAD 1,860,000 1,965,545 1,962,907 0.2 Province of Newfoundland 2.30% Jun 02/25 CAD 1,785,000 1,884,610 1,861,247 0.1 Province of Saskatchewan 2.55% Jun 02/26 CAD 1,615,000 1,712,336 1,710,631 0.1 Province of New Brunswick 3.65% Jun 03/24 CAD 1,575,000 1,718,141 1,701,650 0.1 Province of New Brunswick 2.85% Jun 02/23 CAD 1,577,000 1,637,798 1,645,415 0.1 Province of Newfoundland 3.00% Jun 02/26 CAD 1,445,000 1,554,861 1,554,013 0.1 Ontario Electricity Financial Corp. 8.90% Aug 18/22 CAD 1,314,000 1,645,092 1,438,938 0.1 Province of Quebec 9.50% Mar 30/23 CAD 1,218,000 1,411,836 1,406,967 0.1 Province of Manitoba 4.40% Sep 05/25 CAD 1,180,000 1,380,635 1,335,153 0.1 Province of Alberta 1.60% Sep 01/22 CAD 1,315,000 1,317,120 1,334,460 0.1 Province of Quebec 5.35% Jun 01/25 CAD 1,035,000 1,255,804 1,201,603 0.1 Municipal Finance Authority of British Columbia 2.15% Jun 03/24 CAD 1,150,000 1,201,291 1,193,604 0.1 Province of Ontario 8.10% Sep 08/23 CAD 1,005,000 1,249,561 1,167,246 0.1 Province of Quebec 2.25% Feb 22/24 CAD 1,088,000 1,130,453 1,132,344 0.1 City of Montreal 3.50% Sep 01/23 CAD 1,059,000 1,132,825 1,123,516 0.1 Province of British Columbia 9.00% Aug 23/24 CAD 845,000 1,107,348 1,057,367 0.1 Ontario Electricity Financial Corp. 9.00% May 26/25 CAD 804,000 1,106,005 1,040,910 0.1 Province of New Brunswick 1.80% Aug 14/25 CAD 1,000,000 1,044,972 1,025,794 0.1 Municipal Finance Authority of British Columbia 2.15% Dec 01/22 CAD 969,000 990,051 992,869 0.1 Province of Quebec 2.45% Mar 01/23 CAD 952,000 984,636 983,604 0.1 Municipal Finance Authority of British Columbia 1.10% Jun 01/25 CAD 935,000 943,833 934,834 0.1 Province of Alberta 3.40% Dec 01/23 CAD 870,000 917,707 926,519 0.1 Municipal Finance Authority of British Columbia 2.80% Dec 03/23 CAD 869,000 903,715 913,095 0.1 Province of Quebec 2.60% Jul 06/25 CAD 845,000 914,524 896,556 0.1 Ontario Electricity Financial Corp. 8.50% May 26/25 CAD 695,000 944,019 886,567 0.1 Municipal Finance Authority of British Columbia 2.65% Oct 02/25 CAD 805,000 875,695 853,875 0.1 City of Montreal 3.00% Sep 01/25 CAD 785,000 860,953 840,925 0.1 City of Montreal 3.50% Sep 01/24 CAD 721,000 790,898 777,497 0.1 Province of Nova Scotia 1.00% Apr 17/23 CAD 744,000 750,320 750,400 0.1 South Coast British Columbia Transportation Authority 3.05% Jun 04/25 CAD 700,000 769,093 750,357 0.1 Municipal Finance Authority of British Columbia 3.75% Sep 26/23 CAD 692,000 727,339 739,759 0.1 Municipal Finance Authority of British Columbia 2.60% Apr 23/23 CAD 666,000 689,155 690,674 0.1 Municipal Finance Authority of British Columbia 1.35% Jun 30/26 CAD 660,000 660,330 660,471 0.1 Ontario Power Generation, Inc. 2.89% Apr 08/25 CAD 605,000 619,282 638,547 0.0 Newfoundland & Labrador Hydro 8.40% Feb 27/26 CAD 460,000 615,258 604,110 0.0 Ontario Power Generation, Inc. 1.17% Apr 22/26 CAD 590,000 581,132 579,244 0.0 City of Toronto 2.40% Jun 24/26 CAD 545,000 572,610 572,393 0.0 Regional Municipality of York 2.50% Jun 02/26 CAD 530,000 558,991 558,772 0.0 Municipal Finance Authority of British Columbia 2.95% Oct 14/24 CAD 492,000 516,290 523,944 0.0 ENMAX Corp. 2.92% Oct 18/22 CAD 505,000 513,012 517,670 0.0 City of Toronto 3.40% May 21/24 CAD 475,000 512,877 509,217 0.0 Province of Nova Scotia 2.15% Jun 01/25 CAD 470,000 499,814 488,952 0.0

54 Vanguard Canadian Short-Term Bond Index ETF

Description Currency Par Value Cost ($) Fair Value ($) % of Net Assets Alberta Capital Finance Authority 4.45% Dec 15/25 CAD 430,000 503,354 488,767 0.0 City of Toronto 3.90% Sep 29/23 CAD 451,000 486,593 483,216 0.0 Regional Municipality of York 2.60% Dec 15/25 CAD 420,000 457,141 444,355 0.0 ENMAX Corp. 3.33% Jun 02/25 CAD 415,000 450,209 438,340 0.0 City of Toronto 2.45% Feb 06/25 CAD 415,000 430,734 434,613 0.0 Province of British Columbia 8.00% Sep 08/23 CAD 210,000 262,544 243,495 0.0 Province of British Columbia 8.75% Aug 19/22 CAD 113,000 128,773 123,609 0.0 Province of Manitoba 7.75% Dec 22/25 CAD 75,000 99,839 96,117 0.0 281,440,885 277,597,986 21.9 Utilities Hydro One, Inc. 2.54% Apr 05/24 CAD 1,178,000 1,216,930 1,224,154 0.1 Brookfield Infrastructure Finance ULC 3.32% Feb 22/24 CAD 1,043,000 1,099,808 1,095,286 0.1 Bruce Power LP 3.97% Jun 23/26 CAD 1,000,000 1,096,910 1,095,050 0.1 Hydro One, Inc. 0.71% Jan 16/23 CAD 970,000 971,404 969,690 0.1 Hydro One, Inc. 2.77% Feb 24/26 CAD 790,000 837,217 833,205 0.1 Emera, Inc. 2.90% Jun 16/23 CAD 802,000 807,374 829,725 0.1 AltaLink LP 3.67% Nov 06/23 CAD 769,000 817,461 817,947 0.1 Fortis, Inc. 2.85% Dec 12/23 CAD 767,000 777,825 798,132 0.1 Capital Power Corp. 4.28% Sep 18/24 CAD 680,000 718,345 735,236 0.1 AltaLink LP 2.75% May 29/26 CAD 635,000 672,240 670,331 0.1 Brookfield Renewable Partners ULC 3.75% Jun 02/25 CAD 596,000 650,794 641,779 0.0 Enbridge Gas, Inc. 3.31% Sep 11/25 CAD 580,000 641,577 623,564 0.0 Capital Power Corp. 4.99% Jan 23/26 CAD 525,000 602,689 590,625 0.0 Hydro One, Inc. 1.76% Feb 28/25 CAD 575,000 579,762 585,172 0.0 Bruce Power LP 3.00% Jun 21/24 CAD 504,000 521,789 527,753 0.0 Hydro One, Inc. 2.97% Jun 26/25 CAD 494,000 536,627 524,500 0.0 AltaLink LP 3.40% Jun 06/24 CAD 492,000 523,852 522,991 0.0 13,072,604 13,085,140 1.0 Total investments 1,299,655,666 1,296,761,147 102.1 Other assets and liabilities (net) (26,968,703) (2.1) Total net assets attributable to holders of redeemable units 1,269,792,444 100.0

Fund-Specific Notes—Concentration Risk As at June 30, 2021 (unaudited), and December 31, 2020 % of net assets attributable to holders of redeemable units

June 30, December 31, Sector Allocation 2021 2020 Fixed income Government 32.8 29.8 Provincials/Municipals 21.9 21.3 Financial 19.3 19.8 Government-related Agencies 16.9 17.8 Industrial 8.4 8.5 Government-related Supranational 1. 8 1. 4 Utilities 1. 0 0. 9 Other assets and liabilities (net) (2.1) 0.5 100.0 100.0

55 Vanguard Canadian Short-Term Corporate Bond Index ETF

Statement of Financial Position As at June 30, 2021 (unaudited), and December 31, 2020

June 30, December 31, 2021 2020 Assets Current assets Investments $1,287,536,423 $1,214,423,328 Cash 6,261,991 2,488,885 Amounts receivable for investments sold 56,285,038 37,711,693 Interest receivable 8,625,899 8,575,545 Total assets 1,358,709,351 1,263,199,451 Liabilities Current liabilities Amounts payable for redeemable units redeemed 2,472,660 — Amounts payable for investments purchased 75,324,700 35,734,983 Distributions payable 2,858,687 1,967,870 Accrued expenses and other liabilities 80,132 34,434 Total liabilities excluding net assets attributable to holders of redeemable units 80,736,179 37,737,287 Total net assets attributable to holders of redeemable units $1,277,973,172 $1,225,462,164 Number of redeemable units outstanding (Note 9) 51,800,000 48,800,000 Net assets attributable to holders of redeemable units per unit $24.67 $25.11

Statement of Comprehensive Income For the six months ended June 30, 2021, and June 30, 2020 (unaudited)

2021 2020 Income Net gain (loss) on investments Interest for distribution purposes $16,877,099 $16,141,771 Net realized gain (loss) on sale of investments 3,642,288 (3,555,954) Change in unrealized appreciation/depreciation of investments (25,347,827) 27,647,827 Net gain (loss) on investments (4,828,440) 40,233,644 Total income (net) (4,828,440) 40,233,644 Expenses (Note 10) Management fees 695,331 657,074 Independent Review Committee fees 1,341 1,352 Foreign withholding taxes 1,764 302 Total expenses 698,436 658,728 Expenses absorbed or waived by manager (1,341) (1,352) Net expenses 697,095 657,376 Increase (decrease) in net assets attributable to holders of redeemable units $(5,525,535) $39,576,268 Weighted average number of redeemable units 49,816,575 47,938,462 Increase (decrease) in net assets attributable to holders of redeemable units per unit $(0.11) $0.83

The accompanying notes are an integral part of the financial statements.

56 Vanguard Canadian Short-Term Corporate Bond Index ETF

Statement of Changes in Net Assets Attributable to Holders of Redeemable Units For the six months ended June 30, 2021, and June 30, 2020 (unaudited)

2021 2020 Net assets attributable to holders of redeemable units, beginning of period $1,225,462,164 $1,208,863,503 Increase (decrease) in net assets attributable to holders of redeemable units $(5,525,535) $39,576,268 Distributions to holders of redeemable units Net investment income (16,902,487) (16,395,655) Total distributions to holders of redeemable units (16,902,487) (16,395,655) Redeemable unit transactions Proceeds from issuance of redeemable units 146,971,940 93,500,540 Payment for redeemable units redeemed (72,032,910) (186,876,880) Net redeemable unit transactions 74,939,030 (93,376,340) Net assets attributable to holders of redeemable units, end of period $1,277,973,172 $1,138,667,776

Statement of Cash Flows For the six months ended June 30, 2021, and June 30, 2020 (unaudited)

2021 2020 Cash flows from (used in) operating activities Increase (decrease) in net assets attributable to holders of redeemable units $(5,525,535) $39,576,268 Adjustments for: Net realized (gain) loss on sale of investments (3,642,288) 3,555,954 Change in unrealized appreciation/depreciation of investments 25,347,827 (27,647,827) Purchase of investments1 (438,720,255) (611,454,053) 2 Proceeds from sale of investments 441,373,032 616,910,802 Change in working capital (4,656) 1,290,211 Net cash from (used in) operating activities 18,828,125 22,231,355 Cash flows from (used in) financing activities 1 Proceeds from issuance of redeemable units 1,685,203 1,935,012 Distributions to holders of redeemable units, net of reinvested distributions (16,011,670) (15,830,915) 2 Payment for redeemable units redeemed (728,552) (7,323,343) Net cash from (used in) financing activities (15,055,019) (21,219,246) Net increase (decrease) in cash during the period $3,773,106 $1,012,109 Cash, beginning of period $2,488,885 $10,781,362 Cash, end of period $6,261,991 $11,793,471 Supplemental cash flow information relating to operating activities Interest received, net of foreign withholding taxes, if applicable $16,824,981 $17,398,982

1 Excludes in-kind transactions of $145,286,737 and $91,565,528 for the periods ended June 30, 2021 and 2020. 2 Excludes in-kind transactions of $68,831,698 and $179,508,620 for the periods ended June 30, 2021 and 2020.

The accompanying notes are an integral part of the financial statements.

57 Vanguard Canadian Short-Term Corporate Bond Index ETF

Schedule of Investment Portfolio As at June 30, 2021 (unaudited)

Description Currency Par Value Cost ($) Fair Value ($) % of Net Assets Fixed income Financial Bank of Nova Scotia 2.38% May 01/23 CAD 17,667,000 17,893,622 18,139,592 1.4 Toronto-Dominion Bank 3.11% Apr 22/30 CAD 15,275,000 15,822,544 16,091,143 1.3 Royal Bank of Canada 2.61% Nov 01/24 CAD 12,915,000 13,195,110 13,459,626 1.1 Bank of Montreal 2.89% Jun 20/23 CAD 12,281,000 12,514,520 12,782,556 1.0 Toronto-Dominion Bank 3.01% May 30/23 CAD 11,421,000 11,687,872 11,903,309 0.9 Royal Bank of Canada 2.36% Dec 05/22 CAD 11,382,000 11,504,004 11,663,363 0.9 Bank of Montreal 2.85% Mar 06/24 CAD 10,414,000 10,631,780 10,883,359 0.9 Royal Bank of Canada 3.30% Sep 26/23 CAD 10,242,000 10,378,267 10,758,914 0.9 Toronto-Dominion Bank 2.85% Mar 08/24 CAD 10,241,000 10,581,947 10,711,779 0.8 Toronto-Dominion Bank 3.23% Jul 24/24 CAD 10,004,000 10,605,011 10,646,857 0.8 Royal Bank of Canada 2.35% Jul 02/24 CAD 10,248,000 10,359,018 10,586,286 0.8 Toronto-Dominion Bank 1.91% Jul 18/23 CAD 10,230,000 10,032,283 10,457,617 0.8 Royal Bank of Canada 2.95% May 01/23 CAD 10,039,000 10,251,607 10,439,456 0.8 Canadian Imperial Bank of Commerce 2.00% Apr 17/25 CAD 10,108,000 10,180,093 10,319,459 0.8 Bank of Montreal 2.27% Jul 11/22 CAD 10,097,000 10,178,063 10,286,723 0.8 Bank of Montreal 2.28% Jul 29/24 CAD 9,363,000 9,456,537 9,654,470 0.8 Bank of Nova Scotia 3.89% Jan 18/29 CAD 9,046,000 9,454,946 9,630,100 0.8 Bank of Montreal 2.70% Sep 11/24 CAD 9,119,000 9,526,367 9,568,202 0.8 Toronto-Dominion Bank 3.59% Sep 14/28 CAD 8,841,000 9,022,438 9,304,534 0.7 Toronto-Dominion Bank 1.94% Mar 13/25 CAD 9,062,000 8,928,994 9,246,774 0.7 Canadian Imperial Bank of Commerce 3.30% May 26/25 CAD 8,519,000 9,337,678 9,188,167 0.7 Toronto-Dominion Bank 2.50% Dec 02/24 CAD 8,816,000 8,974,870 9,161,675 0.7 Canadian Imperial Bank of Commerce 2.30% Jul 11/22 CAD 8,784,000 8,850,041 8,951,511 0.7 Bank of Nova Scotia 2.16% Feb 03/25 CAD 8,463,000 8,569,151 8,694,548 0.7 Bank of Nova Scotia 2.36% Nov 08/22 CAD 8,473,000 8,525,102 8,674,064 0.7 Toronto-Dominion Bank 3.22% Jul 25/29 CAD 8,010,000 8,305,037 8,434,290 0.7 Bank of Nova Scotia 2.84% Jul 03/29 CAD 7,990,000 8,104,249 8,313,835 0.7 Toronto-Dominion Bank 1.13% Dec 09/25 CAD 8,315,000 8,340,003 8,164,083 0.6 Canadian Imperial Bank of Commerce 3.45% Apr 04/28 CAD 7,837,000 7,921,241 8,159,493 0.6 Bank of Nova Scotia 2.29% Jun 28/24 CAD 7,762,000 7,979,920 8,039,181 0.6 Royal Bank of Canada 2.88% Dec 23/29 CAD 7,675,000 7,770,328 8,012,316 0.6 Canadian Imperial Bank of Commerce 2.95% Jun 19/29 CAD 7,679,000 7,788,685 8,006,279 0.6 Canadian Imperial Bank of Commerce 2.97% Jul 11/23 CAD 7,633,000 7,820,416 7,962,669 0.6 Royal Bank of Canada 2.74% Jul 25/29 CAD 7,547,000 7,621,912 7,834,239 0.6 Bank of Nova Scotia 2.49% Sep 23/24 CAD 7,520,000 7,622,148 7,806,286 0.6 HSBC Bank Canada 2.54% Jan 31/23 CAD 7,601,000 7,620,333 7,805,619 0.6 Royal Bank of Canada 1.94% May 01/25 CAD 7,659,000 7,759,893 7,805,134 0.6 Bank of Montreal 2.37% Feb 03/25 CAD 7,325,000 7,463,900 7,576,028 0.6 Canadian Imperial Bank of Commerce 2.35% Aug 28/24 CAD 7,332,000 7,424,201 7,574,176 0.6 Canadian Imperial Bank of Commerce 3.29% Jan 15/24 CAD 6,988,000 7,210,721 7,370,523 0.6 Toronto-Dominion Bank 4.86% Mar 04/31 CAD 6,454,000 7,372,888 7,319,610 0.6 Bank of Nova Scotia 2.98% Apr 17/23 CAD 6,668,000 6,747,419 6,932,453 0.6 Canadian Imperial Bank of Commerce 2.47% Dec 05/22 CAD 6,446,000 6,472,838 6,614,885 0.5 Royal Bank of Canada 2.33% Dec 05/23 CAD 6,349,000 6,409,696 6,565,056 0.5 Bank of Montreal 2.08% Jun 17/30 CAD 6,467,000 6,515,532 6,563,229 0.5 Canadian Imperial Bank of Commerce 2.43% Jun 09/23 CAD 6,305,000 6,399,778 6,487,151 0.5 Royal Bank of Canada 2.09% Jun 30/30 CAD 6,299,000 6,359,073 6,394,871 0.5 HSBC Bank Canada 1.78% May 20/26 CAD 6,350,000 6,379,913 6,360,732 0.5 HSBC Bank Canada 3.25% Sep 15/23 CAD 6,065,000 6,222,135 6,355,028 0.5 Royal Bank of Canada 1.59% May 04/26 CAD 6,267,000 6,277,871 6,247,948 0.5 Canadian Imperial Bank of Commerce 1.10% Jan 19/26 CAD 5,791,000 5,764,434 5,658,270 0.5 Bank of Montreal 2.88% Sep 17/29 CAD 5,421,000 5,511,932 5,651,338 0.5 Canadian Imperial Bank of Commerce 1.96% Apr 21/31 CAD 5,638,000 5,656,119 5,638,395 0.5 Bank of Montreal 1.55% May 28/26 CAD 5,650,000 5,639,717 5,619,942 0.4 Sun Life Financial, Inc. 3.05% Sep 19/28 CAD 5,378,000 5,417,501 5,598,767 0.4 Wells Fargo & Co. 2.57% May 01/26 CAD 5,367,000 5,463,300 5,552,269 0.4 HSBC Holdings plc 3.20% Dec 05/23 CAD 5,245,000 5,293,060 5,496,445 0.4 Federation des Caisses Desjardins du Quebec 2.42% Oct 04/24 CAD 5,301,000 5,359,436 5,487,065 0.4 Bank of America Corp. 3.30% Apr 24/24 CAD 5,200,000 5,293,263 5,418,348 0.4 Wells Fargo & Co. 2.51% Oct 27/23 CAD 5,228,000 5,132,086 5,393,414 0.4 National Bank of Canada 2.55% Jul 12/24 CAD 5,180,000 5,303,165 5,380,000 0.4 HSBC Bank Canada 2.25% Sep 15/22 CAD 5,261,000 5,322,530 5,358,907 0.4 Wells Fargo & Co. 3.18% Feb 08/24 CAD 5,105,000 5,225,944 5,355,451 0.4 Wells Fargo & Co. 2.98% May 19/26 CAD 5,075,000 5,350,926 5,331,897 0.4 Morgan Stanley 3.00% Feb 07/24 CAD 5,060,000 5,168,196 5,293,064 0.4 National Australia Bank Ltd. 3.52% Jun 12/30 CAD 5,037,000 5,189,867 5,287,943 0.4

58 Vanguard Canadian Short-Term Corporate Bond Index ETF

Description Currency Par Value Cost ($) Fair Value ($) % of Net Assets Manulife Financial Corp. 2.24% May 12/30 CAD 5,144,000 5,187,080 5,266,530 0.4 Federation des Caisses Desjardins du Quebec 2.86% May 26/30 CAD 5,005,000 5,125,697 5,211,656 0.4 Federation des Caisses Desjardins du Quebec 1.99% May 28/31 CAD 5,220,000 5,231,534 5,208,725 0.4 National Bank of Canada 2.98% Mar 04/24 CAD 4,946,000 5,111,501 5,185,040 0.4 Bank of America Corp. 2.93% Apr 25/25 CAD 4,940,000 5,058,472 5,159,830 0.4 Manufacturers Life Insurance Co. 3.18% Nov 22/27 CAD 4,987,000 5,135,390 5,147,631 0.4 Wells Fargo & Co. 3.87% May 21/25 CAD 4,630,000 4,906,661 4,994,566 0.4 Canadian Imperial Bank of Commerce 2.01% Jul 21/30 CAD 4,919,000 4,976,546 4,967,108 0.4 Federation des Caisses Desjardins du Quebec 1.09% Jan 21/26 CAD 5,075,000 5,056,320 4,954,926 0.4 Brookfield Asset Management, Inc. 4.82% Jan 28/26 CAD 4,305,000 4,985,775 4,846,698 0.4 Royal Bank of Canada 4.93% Jul 16/25 CAD 3,990,000 4,737,836 4,563,962 0.4 Federation des Caisses Desjardins du Quebec 2.39% Aug 25/22 CAD 4,145,000 4,183,967 4,233,869 0.3 Bank of Montreal 1.76% Mar 10/26 CAD 4,185,000 4,206,471 4,210,821 0.3 National Bank of Canada 3.18% Feb 01/28 CAD 4,041,000 4,055,412 4,173,868 0.3 Federation des Caisses Desjardins du Quebec 3.06% Sep 11/23 CAD 3,975,000 4,074,280 4,162,541 0.3 Goldman Sachs Group, Inc. 3.31% Oct 31/25 CAD 3,792,000 3,939,744 4,014,211 0.3 Manulife Financial Corp. 3.05% Aug 20/29 CAD 3,822,000 3,977,829 4,010,272 0.3 National Bank of Canada 1.53% Jun 15/26 CAD 3,925,000 3,905,317 3,900,076 0.3 Sun Life Financial, Inc. 2.38% Aug 13/29 CAD 3,728,000 3,780,824 3,838,461 0.3 National Bank of Canada 1.57% Aug 18/26 CAD 3,770,000 3,808,551 3,772,564 0.3 National Bank of Canada 2.58% Feb 03/25 CAD 3,589,000 3,682,726 3,739,451 0.3 Bank of Montreal 4.61% Sep 10/25 CAD 3,017,000 3,542,635 3,417,597 0.3 Citigroup, Inc. 4.09% Jun 09/25 CAD 3,023,000 3,304,021 3,287,966 0.3 Manulife Financial Corp. 3.32% May 09/28 CAD 3,037,000 3,137,203 3,161,001 0.3 Ventas Canada Finance Ltd. 2.80% Apr 12/24 CAD 3,034,000 3,085,669 3,142,253 0.3 Allied Properties REIT 1.73% Feb 12/26 CAD 3,075,000 3,031,215 3,030,628 0.2 Bank of America Corp. 3.52% Mar 24/26 CAD 2,790,000 2,977,103 2,984,937 0.2 Choice Properties REIT 3.56% Sep 09/24 CAD 2,760,000 2,895,754 2,928,884 0.2 Brookfield Asset Management, Inc. 5.04% Mar 08/24 CAD 2,561,000 2,808,711 2,792,642 0.2 Bank of America Corp. 3.41% Sep 20/25 CAD 2,615,000 2,736,263 2,776,921 0.2 OMERS Realty Corp. 2.86% Feb 23/24 CAD 2,615,000 2,728,948 2,734,558 0.2 Manulife Bank of Canada 2.38% Nov 19/24 CAD 2,580,000 2,643,234 2,677,550 0.2 Wells Fargo Canada Corp. 3.46% Jan 24/23 CAD 2,557,000 2,671,001 2,662,144 0.2 Lloyds Banking Group plc 3.50% Feb 03/25 CAD 2,495,000 2,625,296 2,657,050 0.2 Canadian Western Bank 1.93% Apr 16/26 CAD 2,630,000 2,636,639 2,635,602 0.2 Brookfield Property Finance ULC 3.93% Aug 24/25 CAD 2,541,000 2,571,482 2,631,256 0.2 Brookfield Property Finance ULC 4.35% Jul 03/23 CAD 2,518,000 2,588,278 2,618,065 0.2 Ivanhoe Cambridge II, Inc. 2.91% Jun 27/23 CAD 2,503,000 2,563,326 2,595,811 0.2 Manulife Bank of Canada 2.84% Jan 12/23 CAD 2,500,000 2,551,920 2,579,100 0.2 Manulife Bank of Canada 1.50% Jun 25/25 CAD 2,550,000 2,562,144 2,562,878 0.2 Athene Global Funding 2.10% Sep 24/25 CAD 2,530,000 2,530,386 2,562,485 0.2 RioCan REIT 1.97% Jun 15/26 CAD 2,585,000 2,562,666 2,555,428 0.2 Hyundai Capital Canada, Inc. 2.01% May 12/26 CAD 2,540,000 2,551,248 2,545,817 0.2 OMERS Realty Corp. 3.36% Jun 05/23 CAD 2,410,000 2,479,503 2,523,848 0.2 Manulife Bank of Canada 1.34% Feb 26/26 CAD 2,535,000 2,515,990 2,508,813 0.2 Central 1 Credit Union 2.58% Dec 06/23 CAD 2,405,000 2,424,700 2,488,454 0.2 Canadian Western Bank 1.57% Sep 14/23 CAD 2,465,000 2,480,579 2,487,604 0.2 RioCan REIT 2.58% Feb 12/25 CAD 2,421,000 2,463,875 2,485,011 0.2 Central 1 Credit Union 2.60% Nov 07/22 CAD 2,402,000 2,387,158 2,460,008 0.2 CI Financial Corp. 3.76% May 26/25 CAD 2,166,000 2,224,241 2,309,281 0.2 Barclays plc 2.17% Jun 23/27 CAD 2,285,000 2,284,124 2,282,784 0.2 H&R REIT 4.07% Jun 16/25 CAD 2,115,000 2,163,608 2,251,206 0.2 Granite REIT Holdings LP 3.87% Nov 30/23 CAD 2,065,000 2,125,685 2,189,767 0.2 Sun Life Financial, Inc. 2.75% Nov 23/27 CAD 2,112,000 2,139,139 2,165,455 0.2 Industrial Alliance Insurance & Financial Services, Inc. 3.30% Sep 15/28 CAD 2,067,000 2,148,414 2,160,098 0.2 Canadian Western Bank 2.92% Dec 15/22 CAD 2,042,000 2,067,409 2,103,342 0.2 Laurentian Bank of Canada 3.45% Jun 27/23 CAD 2,000,000 2,035,508 2,092,020 0.2 Air Lease Corp. 2.63% Dec 05/24 CAD 2,025,000 2,001,360 2,076,496 0.2 AIMCo Realty Investors LP 2.27% Jun 26/24 CAD 2,005,000 2,026,478 2,064,528 0.2 OMERS Realty Corp. 3.33% Nov 12/24 CAD 1,899,000 2,022,315 2,029,366 0.2 BCI QuadReal Realty 1.07% Feb 04/26 CAD 2,060,000 2,008,064 2,015,380 0.2 Choice Properties REIT 3.55% Jan 10/25 CAD 1,890,000 1,998,806 2,010,431 0.2 BCI QuadReal Realty 1.06% Mar 12/24 CAD 2,010,000 2,016,649 2,009,377 0.2 iA Financial Corp. Inc. 2.40% Feb 21/30 CAD 1,940,000 1,964,266 1,992,322 0.2 OMERS Realty Corp. 1.30% Sep 22/23 CAD 1,965,000 1,977,799 1,979,954 0.2 CI Financial Corp. 3.22% Jul 22/24 CAD 1,864,000 1,892,863 1,946,407 0.2 Fairfax Financial Holdings Ltd. 4.95% Mar 03/25 CAD 1,752,000 1,867,243 1,940,620 0.2 H&R REIT 3.37% Jan 30/24 CAD 1,868,000 1,875,360 1,937,807 0.2 Intact Financial Corp. 1.21% May 21/24 CAD 1,853,000 1,856,298 1,850,943 0.2 Equitable Bank 1.77% Sep 21/23 CAD 1,780,000 1,795,968 1,795,166 0.1 Laurentian Bank of Canada 1.15% Jun 03/24 CAD 1,805,000 1,809,582 1,792,888 0.1 Laurentian Bank of Canada 3.00% Sep 12/22 CAD 1,730,000 1,743,517 1,775,810 0.1 BCI QuadReal Realty 1.68% Mar 03/25 CAD 1,745,000 1,761,107 1,766,760 0.1

59 Vanguard Canadian Short-Term Corporate Bond Index ETF

Description Currency Par Value Cost ($) Fair Value ($) % of Net Assets RioCan REIT 2.83% Oct 03/22 CAD 1,718,000 1,747,488 1,756,981 0.1 First Capital REIT 4.79% Aug 30/24 CAD 1,604,000 1,750,134 1,744,992 0.1 Canadian Western Bank 2.60% Sep 06/24 CAD 1,648,000 1,658,040 1,705,367 0.1 SmartCentres REIT 1.74% Dec 16/25 CAD 1,710,000 1,712,574 1,687,394 0.1 Intact Financial Corp. 3.69% Mar 24/25 CAD 1,535,000 1,662,666 1,654,991 0.1 Original Wempi, Inc. 4.31% Feb 13/24 CAD 1,592,000 1,667,291 1,638,423 0.1 First Capital REIT 3.90% Oct 30/23 CAD 1,556,000 1,576,675 1,636,803 0.1 Athene Global Funding 1.25% Apr 09/24 CAD 1,635,000 1,634,927 1,627,528 0.1 RioCan REIT 3.29% Feb 12/24 CAD 1,535,000 1,582,919 1,604,106 0.1 First Capital REIT 4.32% Jul 31/25 CAD 1,463,000 1,571,980 1,582,264 0.1 TMX Group Ltd. 3.00% Dec 11/24 CAD 1,500,000 1,554,604 1,580,895 0.1 First Capital REIT 3.60% May 06/26 CAD 1,494,000 1,579,191 1,569,626 0.1 Ivanhoe Cambridge II, Inc. 2.30% Dec 12/24 CAD 1,510,000 1,527,284 1,559,453 0.1 Choice Properties LP 3.60% Sep 20/22 CAD 1,440,000 1,477,475 1,478,117 0.1 RioCan REIT 3.21% Sep 29/23 CAD 1,410,000 1,407,684 1,464,764 0.1 Canadian Western Bank 2.61% Jan 30/25 CAD 1,382,000 1,404,829 1,430,633 0.1 Bow Centre Street LP 3.80% Jun 13/23 CAD 1,358,000 1,333,010 1,379,226 0.1 780,302,925 791,127,601 61.9 Government Government of Canada 0.25% May 01/23 CAD 16,987,000 16,926,357 16,925,104 1.3 16,926,357 16,925,104 1.3 Government-related Agencies KfW 0.75% Feb 19/26 CAD 5,980,000 5,831,059 5,875,440 0.4 KfW 5.05% Feb 04/25 CAD 4,162,000 4,880,208 4,755,501 0.4 10,711,267 10,630,941 0.8 Government-related Supranational International Bank for Reconstruction & Development 1.80% Jul 26/24 CAD 8,950,000 9,059,862 9,208,476 0.7 International Bank for Reconstruction & Development 0.75% Jul 02/25 CAD 8,050,000 8,064,502 7,950,743 0.6 International Bank for Reconstruction & Development 1.90% Jan 16/25 CAD 7,535,000 7,703,974 7,778,682 0.6 Inter-American Development Bank 1.00% Jun 29/26 CAD 7,620,000 7,533,894 7,559,269 0.6 International Bank for Reconstruction & Development 0.63% Jan 14/26 CAD 7,495,000 7,462,687 7,315,870 0.6 Asian Development Bank 0.75% Feb 10/26 CAD 6,300,000 6,138,133 6,187,419 0.5 Inter-American Development Bank 4.40% Jan 26/26 CAD 5,005,000 5,893,967 5,720,665 0.5 International Bank for Reconstruction & Development 2.25% Jan 17/23 CAD 5,362,000 5,407,258 5,509,884 0.4 Inter-American Development Bank 0.75% Oct 15/25 CAD 5,185,000 5,184,193 5,102,610 0.4 International Bank for Reconstruction & Development 2.50% Aug 03/23 CAD 4,803,000 4,841,730 4,994,640 0.4 International Finance Corp. 1.38% Sep 13/24 CAD 3,894,000 3,882,580 3,956,732 0.3 Inter-American Development Bank 1.70% Oct 10/24 CAD 3,029,000 3,043,704 3,105,361 0.2 International Finance Corp. 2.38% Jul 19/23 CAD 2,505,000 2,533,720 2,597,485 0.2 International Finance Corp. 0.63% Sep 16/25 CAD 2,500,000 2,491,725 2,453,950 0.2 79,241,929 79,441,786 6.2 Industrial Apple, Inc. 2.51% Aug 19/24 CAD 12,665,000 13,097,942 13,194,777 1.0 Bell Canada, Inc. 3.35% Mar 12/25 CAD 7,596,000 7,895,310 8,068,015 0.6 Thomson Reuters Corp. 2.24% May 14/25 CAD 7,115,000 7,220,832 7,298,354 0.6 AT&T, Inc. 4.00% Nov 25/25 CAD 6,319,000 7,080,388 6,922,907 0.5 TWDC Enterprises 18 Corp. 2.76% Oct 07/24 CAD 6,352,000 6,600,907 6,651,179 0.5 TELUS Corp. 3.35% Apr 01/24 CAD 5,757,000 6,013,695 6,052,104 0.5 McDonald's Corp. 3.13% Mar 04/25 CAD 5,069,000 5,269,091 5,376,080 0.4 Toyota Credit Canada, Inc. 2.31% Oct 23/24 CAD 5,145,000 5,239,471 5,314,888 0.4 Bell Canada, Inc. 3.35% Mar 22/23 CAD 4,986,003 5,111,173 5,157,372 0.4 Bell Canada, Inc. 2.70% Feb 27/24 CAD 4,925,000 5,021,449 5,099,246 0.4 Loblaw Cos. Ltd. 4.86% Sep 12/23 CAD 4,049,000 4,336,047 4,344,658 0.3 TELUS Corp. 3.75% Jan 17/25 CAD 3,997,000 4,302,958 4,291,179 0.3 Bell Canada, Inc. 3.55% Mar 02/26 CAD 3,993,000 4,310,192 4,289,241 0.3 Enbridge, Inc. 3.19% Dec 05/22 CAD 4,063,000 4,144,801 4,193,625 0.3 Cenovus Energy, Inc. 3.55% Mar 12/25 CAD 3,831,000 3,565,752 4,049,175 0.3 TransCanada PipeLines Ltd. 3.30% Jul 17/25 CAD 3,793,000 4,107,824 4,029,342 0.3 TransCanada PipeLines Ltd. 3.69% Jul 19/23 CAD 3,829,000 3,977,631 4,006,015 0.3 BHP Billiton Finance Ltd. 3.23% May 15/23 CAD 3,843,000 3,938,270 3,997,796 0.3 United Parcel Service, Inc. 2.13% May 21/24 CAD 3,861,000 3,903,205 3,966,405 0.3 PepsiCo, Inc. 2.15% May 06/24 CAD 3,768,000 3,821,351 3,873,617 0.3 Alimentation Couche-Tard, Inc. 3.60% Jun 02/25 CAD 3,595,000 3,904,778 3,851,395 0.3 Alimentation Couche-Tard, Inc. 3.06% Jul 26/24 CAD 3,520,000 3,639,606 3,689,242 0.3 Bell Canada, Inc. 4.70% Sep 11/23 CAD 3,299,000 3,524,071 3,525,146 0.3

60 Vanguard Canadian Short-Term Corporate Bond Index ETF

Description Currency Par Value Cost ($) Fair Value ($) % of Net Assets Pembina Pipeline Corp. 2.99% Jan 22/24 CAD 3,270,000 3,317,026 3,397,268 0.3 Rogers Communications, Inc. 4.00% Mar 13/24 CAD 3,070,000 3,268,360 3,265,805 0.3 Enbridge Pipelines, Inc. 3.45% Sep 29/25 CAD 3,030,000 3,316,210 3,253,462 0.3 Mondelez International, Inc. 3.25% Mar 07/25 CAD 3,034,000 3,134,509 3,219,256 0.3 AT&T, Inc. 2.85% May 25/24 CAD 3,085,000 3,146,867 3,215,681 0.3 TELUS Corp. 3.75% Mar 10/26 CAD 2,939,000 3,200,765 3,186,758 0.3 Brookfield Property Finance ULC 4.30% Mar 01/24 CAD 3,023,000 3,102,748 3,163,207 0.3 Bell Canada, Inc. 2.75% Jan 29/25 CAD 2,885,000 2,999,188 3,003,920 0.2 Teranet Holdings LP 3.54% Jun 11/25 CAD 2,772,000 2,943,174 2,944,862 0.2 Enbridge, Inc. 2.44% Jun 02/25 CAD 2,800,000 2,893,241 2,887,052 0.2 Honda Canada Finance, Inc. 3.18% Aug 28/23 CAD 2,740,000 2,815,063 2,862,807 0.2 Pembina Pipeline Corp. 2.56% Jun 01/23 CAD 2,765,000 2,798,244 2,838,383 0.2 North West Redwater Partnership / NWR Financing Co. Ltd. 3.20% Apr 24/26 CAD 2,610,000 2,765,368 2,762,894 0.2 Daimler Canada Finance, Inc. 1.65% Sep 22/25 CAD 2,750,000 2,754,359 2,752,832 0.2 Enbridge, Inc. 3.95% Nov 19/24 CAD 2,544,000 2,714,835 2,737,191 0.2 Canadian Natural Resources Ltd. 3.55% Jun 03/24 CAD 2,588,000 2,714,679 2,736,474 0.2 VW Credit Canada, Inc. 2.85% Sep 26/24 CAD 2,618,000 2,674,680 2,736,203 0.2 VW Credit Canada, Inc. 3.25% Mar 29/23 CAD 2,617,000 2,648,234 2,718,775 0.2 Honda Canada Finance, Inc. 3.44% May 23/25 CAD 2,525,000 2,706,137 2,716,319 0.2 Shaw Communications, Inc. 4.35% Jan 31/24 CAD 2,540,000 2,716,042 2,716,225 0.2 Cameco Corp. 4.19% Jun 24/24 CAD 2,542,000 2,673,995 2,715,593 0.2 Dollarama, Inc. 3.55% Nov 06/23 CAD 2,571,000 2,650,202 2,707,597 0.2 VW Credit Canada, Inc. 3.70% Nov 14/22 CAD 2,606,000 2,675,654 2,706,983 0.2 Sysco Canada, Inc. 3.65% Apr 25/25 CAD 2,531,000 2,587,446 2,705,386 0.2 General Motors Financial of Canada Ltd. 3.25% Nov 07/23 CAD 2,572,000 2,598,111 2,689,643 0.2 Sobeys, Inc. 4.70% Aug 08/23 CAD 2,519,000 2,745,749 2,683,390 0.2 Inter Pipeline Ltd. 2.73% Apr 18/24 CAD 2,595,000 2,612,784 2,680,557 0.2 AltaGas Ltd. 2.16% Jun 10/25 CAD 2,635,000 2,670,879 2,679,584 0.2 Heathrow Funding Ltd. 3.25% May 21/27 CAD 2,544,000 2,621,474 2,679,112 0.2 Honda Canada Finance, Inc. 2.50% Jun 04/24 CAD 2,555,000 2,608,734 2,647,414 0.2 Shaw Communications, Inc. 3.80% Nov 02/23 CAD 2,503,000 2,612,681 2,644,470 0.2 North West Redwater Partnership / NWR Financing Co. Ltd. 3.20% Jul 22/24 CAD 2,505,000 2,629,484 2,634,458 0.2 General Motors Financial of Canada Ltd. 1.75% Apr 15/26 CAD 2,645,000 2,610,411 2,617,915 0.2 Molson Coors International LP 2.84% Jul 15/23 CAD 2,519,000 2,510,938 2,594,872 0.2 TELUS Corp. 3.35% Mar 15/23 CAD 2,498,000 2,553,499 2,583,082 0.2 Pembina Pipeline Corp. 3.77% Oct 24/22 CAD 2,470,000 2,569,458 2,558,821 0.2 Honda Canada Finance, Inc. 2.54% Mar 01/23 CAD 2,484,000 2,522,943 2,553,403 0.2 Pembina Pipeline Corp. 3.54% Feb 03/25 CAD 2,394,000 2,543,120 2,541,063 0.2 Honda Canada Finance, Inc. 1.34% Mar 17/26 CAD 2,570,000 2,532,455 2,536,590 0.2 Nissan Canada, Inc. 1.63% Mar 18/24 CAD 2,535,000 2,534,942 2,525,925 0.2 Canadian Natural Resources Ltd. 1.45% Nov 16/23 CAD 2,494,000 2,507,234 2,508,789 0.2 North West Redwater Partnership / NWR Financing Co. Ltd. 1.20% Dec 01/23 CAD 2,500,000 2,503,650 2,501,925 0.2 BP Capital Markets plc 3.47% May 15/25 CAD 2,283,000 2,451,762 2,453,015 0.2 VW Credit Canada, Inc. 1.50% Sep 23/25 CAD 2,455,000 2,449,159 2,442,553 0.2 VW Credit Canada, Inc. 1.20% Sep 25/23 CAD 2,400,000 2,402,402 2,404,128 0.2 AltaGas Ltd. 2.61% Dec 16/22 CAD 2,348,000 2,380,876 2,403,225 0.2 Enbridge, Inc. 3.94% Jun 30/23 CAD 2,275,000 2,397,448 2,385,906 0.2 Toyota Credit Canada, Inc. 2.11% Feb 26/25 CAD 2,286,000 2,322,083 2,349,391 0.2 bcIMC Realty Corp. 2.84% Jun 03/25 CAD 2,223,000 2,376,182 2,339,974 0.2 ARC Resources Ltd. 2.35% Mar 10/26 CAD 2,224,000 2,225,802 2,242,926 0.2 Toyota Credit Canada, Inc. 2.70% Jan 25/23 CAD 2,135,000 2,156,116 2,198,196 0.2 Magna International, Inc. 3.10% Dec 15/22 CAD 2,127,000 2,156,318 2,192,958 0.2 Original Wempi, Inc. 4.06% Feb 13/24 CAD 2,125,243 2,201,492 2,174,060 0.2 Loblaw Cos. Ltd. 3.92% Jun 10/24 CAD 2,009,000 2,158,037 2,157,485 0.2 Honda Canada Finance, Inc. 2.27% Jul 15/22 CAD 2,119,000 2,099,598 2,155,807 0.2 Toyota Credit Canada, Inc. 2.35% Jul 18/22 CAD 2,115,000 2,134,915 2,153,472 0.2 Toyota Credit Canada, Inc. 1.18% Feb 23/26 CAD 2,190,000 2,149,318 2,151,763 0.2 John Deere Financial, Inc. 2.41% Jan 14/25 CAD 2,075,000 2,130,488 2,151,132 0.2 General Motors Financial of Canada Ltd. 5.95% May 14/24 CAD 1,906,000 2,034,478 2,143,373 0.2 Toyota Credit Canada, Inc. 2.62% Oct 11/22 CAD 2,086,000 2,112,272 2,136,836 0.2 Reliance LP 3.84% Mar 15/25 CAD 1,982,000 2,070,862 2,125,675 0.2 Canadian Tire Corp. Ltd. 3.17% Jul 06/23 CAD 2,032,000 2,067,968 2,111,593 0.2 Saputo, Inc. 3.60% Aug 14/25 CAD 1,959,000 2,151,677 2,105,102 0.2 Saputo, Inc. 2.88% Nov 19/24 CAD 1,955,000 2,017,773 2,046,494 0.2 AltaGas Ltd. 1.23% Mar 18/24 CAD 2,050,000 2,050,880 2,041,575 0.2 Toyota Credit Canada, Inc. 2.64% Mar 27/24 CAD 1,961,000 2,012,173 2,039,891 0.2 Daimler Canada Finance, Inc. 3.30% Aug 16/22 CAD 1,979,000 1,995,225 2,035,204 0.2 Daimler Canada Finance, Inc. 2.54% Aug 21/23 CAD 1,970,000 1,981,918 2,029,159 0.2 Greater Toronto Airports Authority 3.04% Sep 21/22 CAD 1,953,000 2,001,864 1,998,817 0.2 Toyota Credit Canada, Inc. 3.04% Jul 12/23 CAD 1,913,000 1,976,357 1,992,849 0.2 AltaGas Ltd. 4.12% Apr 07/26 CAD 1,800,000 1,977,410 1,967,814 0.2 Reliance LP 3.75% Mar 15/26 CAD 1,805,000 1,944,308 1,934,798 0.2

61 Vanguard Canadian Short-Term Corporate Bond Index ETF

Description Currency Par Value Cost ($) Fair Value ($) % of Net Assets John Deere Financial, Inc. 2.46% Apr 04/24 CAD 1,853,000 1,892,648 1,919,967 0.2 Penske Truck Leasing Canada, Inc. 2.85% Dec 07/22 CAD 1,846,000 1,847,437 1,894,273 0.2 Westcoast Energy, Inc. 3.43% Sep 12/24 CAD 1,743,000 1,835,482 1,848,452 0.1 Inter Pipeline Ltd. 2.61% Sep 13/23 CAD 1,789,000 1,786,421 1,838,466 0.1 Canadian National Railway Co. 2.80% Sep 22/25 CAD 1,748,000 1,894,930 1,837,970 0.1 407 International, Inc. 1.80% May 22/25 CAD 1,785,000 1,822,432 1,819,683 0.1 Saputo, Inc. 1.42% Jun 19/26 CAD 1,790,000 1,750,692 1,749,546 0.1 Gibson Energy, Inc. 2.45% Jul 14/25 CAD 1,697,000 1,750,766 1,736,184 0.1 Westcoast Energy, Inc. 3.77% Dec 08/25 CAD 1,537,000 1,721,676 1,665,616 0.1 John Deere Financial, Inc. 1.63% Apr 09/26 CAD 1,649,000 1,654,306 1,648,357 0.1 Vancouver Airport Fuel Facilities Corp. 2.17% Jun 23/25 CAD 1,645,000 1,656,690 1,636,923 0.1 BMW Canada, Inc. 2.41% Nov 27/23 CAD 1,535,000 1,548,660 1,583,798 0.1 Cogeco Communications, Inc. 4.18% May 26/23 CAD 1,501,000 1,559,380 1,574,129 0.1 Honda Canada Finance, Inc. 2.49% Dec 19/22 CAD 1,528,000 1,527,141 1,565,665 0.1 Federated Co-operatives Ltd. 3.92% Jun 17/25 CAD 1,480,000 1,595,135 1,563,738 0.1 Caterpillar Financial Services Ltd. 2.09% Sep 12/22 CAD 1,530,000 1,540,724 1,558,443 0.1 John Deere Canada Funding, Inc. 2.70% Jan 17/23 CAD 1,501,000 1,516,191 1,546,570 0.1 Inter Pipeline Ltd. 3.17% Mar 24/25 CAD 1,461,000 1,349,151 1,532,195 0.1 AltaGas Ltd. 3.57% Jun 12/23 CAD 1,470,000 1,498,350 1,530,402 0.1 Metro, Inc. 2.68% Dec 05/22 CAD 1,488,000 1,504,630 1,524,114 0.1 Daimler Canada Finance, Inc. 2.97% Mar 13/24 CAD 1,445,000 1,475,959 1,509,996 0.1 407 International, Inc. 2.47% Sep 08/22 CAD 1,476,000 1,494,233 1,500,753 0.1 BMW Canada, Inc. 0.63% Jan 16/23 CAD 1,500,000 1,498,023 1,496,025 0.1 AltaGas Ltd. 3.84% Jan 15/25 CAD 1,387,000 1,478,620 1,487,447 0.1 NAV Canada 0.94% Feb 09/26 CAD 1,500,000 1,462,849 1,463,970 0.1 Saputo, Inc. 2.83% Nov 21/23 CAD 1,388,000 1,405,295 1,438,329 0.1 John Deere Canada Funding, Inc. 2.63% Sep 21/22 CAD 1,315,000 1,318,111 1,347,296 0.1 343,705,409 346,937,182 27.2 Utilities Brookfield Infrastructure Finance ULC 3.32% Feb 22/24 CAD 3,557,000 3,618,600 3,735,312 0.3 Hydro One, Inc. 2.54% Apr 05/24 CAD 3,560,000 3,633,202 3,699,481 0.3 Bruce Power LP 3.97% Jun 23/26 CAD 3,100,000 3,400,421 3,394,655 0.3 Hydro One, Inc. 0.71% Jan 16/23 CAD 3,050,000 3,053,654 3,049,024 0.2 AltaLink LP 3.67% Nov 06/23 CAD 2,698,000 2,858,255 2,869,728 0.2 Hydro One, Inc. 2.77% Feb 24/26 CAD 2,542,000 2,696,675 2,681,022 0.2 Fortis, Inc. 2.85% Dec 12/23 CAD 2,521,000 2,551,112 2,623,327 0.2 Emera, Inc. 2.90% Jun 16/23 CAD 2,521,000 2,563,458 2,608,151 0.2 Capital Power Corp. 4.28% Sep 18/24 CAD 2,254,000 2,379,060 2,437,093 0.2 Brookfield Renewable Partners ULC 3.75% Jun 02/25 CAD 2,034,000 2,223,622 2,190,232 0.2 Enbridge Gas, Inc. 3.31% Sep 11/25 CAD 1,995,000 2,201,074 2,144,845 0.2 Hydro One, Inc. 2.97% Jun 26/25 CAD 1,883,000 2,038,507 1,999,256 0.2 Hydro One, Inc. 1.76% Feb 28/25 CAD 1,867,000 1,893,640 1,900,027 0.2 AltaLink LP 3.40% Jun 06/24 CAD 1,758,000 1,878,988 1,868,736 0.1 Bruce Power LP 3.00% Jun 21/24 CAD 1,747,000 1,818,574 1,829,336 0.1 AltaLink LP 2.75% May 29/26 CAD 1,655,000 1,752,959 1,747,084 0.1 Capital Power Corp. 4.99% Jan 23/26 CAD 1,508,000 1,738,661 1,696,500 0.1 42,300,462 42,473,809 3.3 Total investments 1,273,188,349 1,287,536,423 100.7 Other assets and liabilities (net) (9,563,251) (0.7) Total net assets attributable to holders of redeemable units 1,277,973,172 100.0

62 Vanguard Canadian Short-Term Corporate Bond Index ETF

Fund-Specific Notes—Concentration Risk As at June 30, 2021 (unaudited), and December 31, 2020 % of net assets attributable to holders of redeemable units

June 30, December 31, Sector Allocation 2021 2020 Fixed income Financial 61.9 63.2 Industrial 27.2 27.6 Government-related Supranational 6.2 4.6 Utilities 3.3 2.8 Government 1. 3 — Government-related Agencies 0.8 0.9 Other assets and liabilities (net) (0.7) 0.9 100.0 100.0

63 Vanguard FTSE Canada All Cap Index ETF

Statement of Financial Position As at June 30, 2021 (unaudited), and December 31, 2020

June 30, December 31, 2021 2020 Assets Current assets Investments $3,975,369,389 $2,887,970,012 Cash 26,039,099 10,974,741 Amounts receivable for redeemable units issued 9,185,393 7,893,157 Amounts receivable for investments sold 6,089,804 6,506,592 Margin due from brokers 1,514,027 304,528 Dividends receivable 8,486,903 6,890,762 Unrealized appreciation of futures contracts 47,969 — Total assets 4,026,732,584 2,920,539,792 Liabilities Current liabilities Amounts payable for redeemable units redeemed 6,096,315 — Amounts payable for investments purchased 9,175,254 7,891,974 Distributions payable 24,362,224 19,447,130 Accrued expenses and other liabilities 100,891 26,834 Unrealized depreciation of futures contracts — 43,557 Total liabilities excluding net assets attributable to holders of redeemable units 39,734,684 27,409,495 Total net assets attributable to holders of redeemable units $3,986,997,900 $2,893,130,297 Number of redeemable units outstanding (Note 9) 98,100,000 82,650,000 Net assets attributable to holders of redeemable units per unit $40.64 $35.00

The accompanying notes are an integral part of the financial statements.

64 Vanguard FTSE Canada All Cap Index ETF

Statement of Comprehensive Income For the six months ended June 30, 2021, and June 30, 2020 (unaudited)

2021 2020 Income Net gain (loss) on investments Dividend income $50,591,667 $36,637,928 Interest for distribution purposes 753,268 535,636 Net realized gain (loss) on sale of investments 26,179,026 (21,316,617) Change in unrealized appreciation/depreciation of investments 477,672,809 (175,620,455) Net gain (loss) on investments 555,196,770 (159,763,508) Net gain (loss) on derivatives Net realized gain (loss) on foreign currency contracts (5,253) (988) Net realized gain (loss) on futures contracts 2,218,145 (1,596,238) Change in unrealized appreciation/depreciation of futures contracts 91,526 311,700 Net gain (loss) on derivatives 2,304,418 (1,285,526) Net realized gain (loss) on foreign currency transactions (90,097) 107,097 Change in unrealized appreciation/depreciation of foreign currency translations 115,398 30,317 Total income (net) 557,526,489 (160,911,620) Expenses (Note 10) Management fees 938,917 607,044 Overdraft expenses 510 5,614 Independent Review Committee fees 1,341 1,352 Foreign withholding taxes —5,447 Transaction costs (Note 3) 29,272 39,634 Total expenses 970,040 659,091 Expenses absorbed or waived by manager (1,341) (1,352) Net expenses 968,699 657,739 Increase (decrease) in net assets attributable to holders of redeemable units $556,557,790 $(161,569,359) Weighted average number of redeemable units 90,496,823 71,001,099 Increase (decrease) in net assets attributable to holders of redeemable units per unit $6.15 $(2.28)

The accompanying notes are an integral part of the financial statements.

65 Vanguard FTSE Canada All Cap Index ETF

Statement of Changes in Net Assets Attributable to Holders of Redeemable Units For the six months ended June 30, 2021, and June 30, 2020 (unaudited)

2021 2020 Net assets attributable to holders of redeemable units, beginning of period $2,893,130,297 $2,237,260,735 Increase (decrease) in net assets attributable to holders of redeemable units $556,557,790 $(161,569,359) Distributions to holders of redeemable units Net investment income (51,444,695) (32,853,203) Total distributions to holders of redeemable units (51,444,695) (32,853,203) Redeemable unit transactions Proceeds from issuance of redeemable units 693,184,973 399,705,473 Payment for redeemable units redeemed (104,430,465) (98,207,723) Net redeemable unit transactions 588,754,508 301,497,750 Net assets attributable to holders of redeemable units, end of period $3,986,997,900 $2,344,335,923

Statement of Cash Flows For the six months ended June 30, 2021, and June 30, 2020 (unaudited)

2021 2020 Cash flows from (used in) operating activities Increase (decrease) in net assets attributable to holders of redeemable units $556,557,790 $(161,569,359) Adjustments for: Net realized (gain) loss on sale of investments (26,179,026) 21,316,617 Change in unrealized appreciation/depreciation of investments (477,672,809) 175,620,455 Change in unrealized appreciation/depreciation of derivatives (91,526) (311,700) Change in unrealized appreciation/depreciation of foreign currency translations (115,398) (30,317) 1 Purchase of investments (70,698,268) (101,878,183) 2 Proceeds from sale of investments 82,200,600 110,848,432 Change in working capital (2,731,583) (781,650) Net cash from (used in) operating activities 61,269,780 43,214,295 Cash flows from (used in) financing activities 1 Proceeds from issuance of redeemable units 265,307 2,498,227 Distributions to holders of redeemable units, net of reinvested distributions (46,529,601) (48,999,423) 2 Payment for redeemable units redeemed (56,526) (32,612) Net cash from (used in) financing activities (46,320,820) (46,533,808) Change in unrealized appreciation/depreciation of foreign currency translations 115,398 30,317 Net increase (decrease) in cash during the period $15,064,358 $(3,289,196) Cash, beginning of period $10,974,741 $13,465,535 Cash, end of period $26,039,099 $10,176,339 Supplemental cash flow information relating to operating activities Dividends received, net of foreign withholding taxes, if applicable $48,995,526 $35,818,699 Interest received, net of foreign withholding taxes, if applicable $753,268 $535,636 Interest paid $510 $5,614

1 Excludes in-kind transactions of $691,627,430 and $397,207,721 for the periods ended June 30, 2021 and 2020. 2 Excludes in-kind transactions of $98,277,624 and $98,175,111 for the periods ended June 30, 2021 and 2020.

The accompanying notes are an integral part of the financial statements.

66 Vanguard FTSE Canada All Cap Index ETF

Schedule of Investment Portfolio As at June 30, 2021 (unaudited)

Description Number of Shares Cost ($) Fair Value ($) % of Net Assets Equities Basic Materials Barrick Gold Corp. 2,559,222 57,835,369 65,618,452 1.6 Nutrien Ltd. 823,764 52,614,570 61,872,914 1.5 Franco-Nevada Corp. 274,560 33,520,879 49,390,598 1.2 Wheaton Precious Metals Corp. 650,266 23,853,377 35,530,534 0.9 Agnico Eagle Mines Ltd. 351,502 23,244,452 26,348,590 0.7 First Quantum Minerals Ltd. 801,363 12,730,450 22,894,941 0.6 Teck Resources Ltd. Class B 669,316 16,212,332 19,108,972 0.5 Kirkland Lake Gold Ltd. 385,936 14,844,954 18,436,163 0.5 West Fraser Timber Co. Ltd. 162,348 11,465,926 14,447,348 0.4 Kinross Gold Corp. 1,819,530 11,475,652 14,301,506 0.3 Hydro One Ltd. 455,885 11,261,973 13,658,315 0.3 Pan American Silver Corp. 298,971 7,872,224 10,583,573 0.3 Lundin Mining Corp. 926,026 7,474,774 10,352,971 0.3 B2Gold Corp. 1,502,926 6,902,628 7,815,215 0.2 Yamana Gold, Inc. 1,392,565 6,799,814 7,269,189 0.2 Ivanhoe Mines Ltd. Class A 812,120 3,711,142 7,268,474 0.2 Endeavour Mining plc 269,160 7,365,547 7,165,039 0.2 First Majestic Silver Corp. 316,463 4,157,896 6,196,346 0.1 SSR Mining, Inc. 317,338 5,033,026 6,143,664 0.1 Alamos Gold, Inc. Class A 564,122 4,814,860 5,342,235 0.1 Stella-Jones, Inc. 94,563 3,998,438 4,220,347 0.1 Osisko Gold Royalties Ltd. 240,911 3,399,248 4,093,078 0.1 Methanex Corp. 88,199 4,906,354 3,624,097 0.1 Novagold Resources, Inc. 336,385 2,855,270 3,343,667 0.1 Pretium Resources, Inc. 271,860 3,203,580 3,224,260 0.1 Equinox Gold Corp. 360,847 5,240,465 3,106,893 0.1 Eldorado Gold Corp. 251,323 3,468,899 3,093,786 0.1 Russel Metals, Inc. 89,315 2,124,162 3,025,099 0.1 Turquoise Hill Resources Ltd. 143,324 3,407,868 2,996,905 0.1 Centerra Gold, Inc. 318,272 2,872,709 2,994,939 0.1 Hudbay Minerals, Inc. 315,860 2,309,981 2,605,845 0.1 Canfor Corp. 88,806 1,778,225 2,518,538 0.1 IAMGOLD Corp. 688,331 3,286,965 2,512,408 0.1 OceanaGold Corp. 1,007,648 2,939,942 2,367,973 0.0 Cascades, Inc. 138,277 1,822,522 2,110,107 0.0 Torex Gold Resources, Inc. 122,747 2,004,910 1,752,827 0.0 372,811,383 457,335,808 11.5 Consumer Discretionary Alimentation Couche-Tard, Inc. Class B 1,158,702 41,310,102 52,778,876 1.3 Magna International, Inc. 405,417 29,642,827 46,529,709 1.2 Restaurant Brands International, Inc. 438,077 32,847,616 34,989,210 0.9 Dollarama, Inc. 424,422 18,337,577 24,081,704 0.6 Canadian Tire Corp. Ltd. Class A 81,752 12,172,502 16,036,472 0.4 Gildan Activewear, Inc. Class A 282,034 10,404,821 12,900,235 0.3 Air Canada 480,148 10,984,404 12,243,774 0.3 Ritchie Bros Auctioneers, Inc. 158,857 8,488,114 11,674,401 0.3 Boyd Group Services, Inc. 30,785 6,303,468 6,944,480 0.2 BRP, Inc. 56,380 3,627,173 5,468,860 0.1 Linamar Corp. 65,095 3,749,734 5,061,136 0.1 Canada Goose Holdings, Inc. 75,731 4,537,920 4,103,106 0.1 Great Canadian Gaming Corp. 78,970 2,810,926 3,514,955 0.1 North West Co. Inc. 68,134 2,026,516 2,397,636 0.1 Martinrea International, Inc. 113,836 1,362,395 1,487,837 0.0 188,606,095 240,212,391 6.0 Consumer Staples Metro, Inc. 354,734 17,396,049 21,081,842 0.5 Loblaw Cos. Ltd. 233,991 14,413,545 17,851,173 0.5 Saputo, Inc. 343,705 13,267,434 12,706,774 0.3 George Weston Ltd. 106,152 10,844,360 12,541,859 0.3 Empire Co. Ltd. Class A 239,539 7,102,711 9,365,975 0.2 Premium Brands Holdings Corp. Class A 52,373 5,054,973 6,595,332 0.2 Primo Water Corp. 223,294 4,096,486 4,631,117 0.1

67 Vanguard FTSE Canada All Cap Index ETF

Description Number of Shares Cost ($) Fair Value ($) % of Net Assets Maple Leaf Foods, Inc. 108,299 2,998,713 2,786,533 0.1 75,174,271 87,560,605 2.2 Energy Enbridge, Inc. 2,924,546 136,241,444 145,145,218 3.6 TC Energy Corp. 1,414,042 82,898,794 86,737,336 2.2 Canadian Natural Resources Ltd. 1,677,752 59,712,602 75,498,840 1.9 Suncor Energy, Inc. 2,177,947 76,630,520 64,663,247 1.6 Pembina Pipeline Corp. 794,946 31,910,838 31,312,923 0.8 Cenovus Energy, Inc. 1,817,285 21,951,941 21,553,000 0.5 Tourmaline Oil Corp. 399,088 9,224,266 14,139,688 0.4 Cameco Corp. 572,549 8,818,028 13,603,764 0.3 Inter Pipeline Ltd. 619,789 12,792,355 12,488,748 0.3 Imperial Oil Ltd. 322,444 11,131,830 12,181,934 0.3 Keyera Corp. 316,869 9,675,972 10,554,906 0.3 ARC Resources Ltd. 953,514 9,313,415 10,059,573 0.3 Parkland Corp. 215,655 7,504,569 8,639,139 0.2 Ballard Power Systems, Inc. 362,518 8,753,499 8,149,405 0.2 Gibson Energy, Inc. 211,164 4,358,261 5,015,145 0.1 PrairieSky Royalty Ltd. 286,531 5,442,355 4,300,830 0.1 Crescent Point Energy Corp. Class A 766,203 6,546,447 4,298,399 0.1 MEG Energy Corp. 435,370 2,783,451 3,905,269 0.1 Parex Resources, Inc. 182,352 3,216,175 3,774,686 0.1 Enerplus Corp. 370,634 3,179,961 3,302,349 0.1 Whitecap Resources, Inc. 416,959 2,622,369 2,568,468 0.1 Vermilion Energy, Inc. 225,950 5,773,487 2,453,817 0.1 520,482,579 544,346,684 13.7 Financials Royal Bank of Canada 2,059,536 201,958,876 258,657,126 6.5 Toronto-Dominion Bank 2,627,938 182,415,705 228,288,974 5.7 Bank of Nova Scotia 1,752,827 123,570,978 141,312,913 3.5 Brookfield Asset Management, Inc. Class A 1,933,714 81,358,860 122,288,073 3.1 Bank of Montreal 935,124 88,374,112 118,816,855 3.0 Canadian Imperial Bank of Commerce 632,980 68,638,867 89,319,808 2.2 Manulife Financial Corp. 2,807,479 63,837,139 68,502,488 1.7 Sun Life Financial, Inc. 846,101 44,414,390 54,082,776 1.4 National Bank of Canada 486,494 30,874,139 45,132,048 1.1 Intact Financial Corp. 205,900 24,609,728 34,675,619 0.9 Power Corp. of Canada 783,759 23,434,077 30,707,678 0.8 Thomson Reuters Corp. 242,898 19,140,092 29,908,031 0.7 Fairfax Financial Holdings Ltd. 37,789 21,616,043 20,542,100 0.5 Great-West Lifeco, Inc. 390,295 12,398,676 14,370,662 0.4 TMX Group Ltd. 80,459 7,709,287 10,535,302 0.3 iA Financial Corp. Inc. 154,993 8,426,904 10,460,478 0.3 Onex Corp. 109,527 8,698,492 9,858,525 0.2 CI Financial Corp. 272,934 6,068,178 6,209,249 0.1 IGM Financial, Inc. 117,215 4,370,216 5,129,328 0.1 Canadian Western Bank 123,399 3,693,529 4,294,285 0.1 ECN Capital Corp. 327,117 1,579,767 3,042,188 0.1 Home Capital Group, Inc. Class B 73,842 1,795,156 2,746,922 0.1 Laurentian Bank of Canada 62,796 2,682,574 2,743,557 0.1 First National Financial Corp. 24,494 803,728 1,205,350 0.0 Brookfield Asset Management Reinsurance Partners Ltd. Class A 13,346 920,877 874,163 0.0 1,033,390,390 1,313,704,498 32.9 Health Care Bausch Health Cos. Inc. 451,257 20,121,069 16,416,730 0.4 Canopy Growth Corp. 347,445 11,923,120 10,416,401 0.2 Aurora Cannabis, Inc. 285,778 9,495,637 3,209,287 0.1 Cronos Group, Inc. 279,684 4,833,377 2,987,025 0.1 46,373,203 33,029,443 0.8 Industrials Canadian National Railway Co. 856,081 96,629,631 111,966,834 2.8 Canadian Pacific Railway Ltd. 963,772 58,929,762 91,866,747 2.3 WSP Global, Inc. 163,480 12,882,261 23,655,556 0.6 CAE, Inc. 416,392 11,325,797 15,897,846 0.4 CCL Industries, Inc. Class B 213,278 11,665,227 14,560,489 0.4 TFI International, Inc. 128,027 6,456,690 14,488,816 0.4 Toromont Industries Ltd. 116,693 7,612,301 12,602,844 0.3 Element Fleet Management Corp. 627,147 6,638,671 9,068,546 0.2 Stantec, Inc. 160,639 6,046,228 8,884,943 0.2 SNC-Lavalin Group, Inc. Class A 254,095 9,493,441 8,194,564 0.2

68 Vanguard FTSE Canada All Cap Index ETF

Description Number of Shares Cost ($) Fair Value ($) % of Net Assets Finning International, Inc. 234,121 6,046,209 7,597,226 0.2 Cargojet, Inc. 24,325 4,169,438 4,476,530 0.1 ATS Automation Tooling Systems, Inc. 106,974 2,033,455 3,806,135 0.1 Bombardier, Inc. Class B 3,030,071 5,828,625 3,545,183 0.1 NFI Group, Inc. 93,887 3,128,211 2,644,797 0.1 Transcontinental, Inc. Class A 105,772 2,102,000 2,462,372 0.1 Mullen Group Ltd. 132,217 1,694,529 1,766,419 0.1 Winpak Ltd. 44,522 2,022,580 1,721,666 0.0 Aecon Group, Inc. 83,395 1,402,413 1,501,110 0.0 Westshore Terminals Investment Corp. 56,687 1,183,774 968,214 0.0 257,291,243 341,676,837 8.6 Real Estate Canadian Apartment Properties REIT 246,769 10,678,484 14,342,214 0.4 FirstService Corp. 54,398 6,824,686 11,565,559 0.3 RioCan REIT 457,877 10,305,930 10,109,924 0.2 Allied Properties REIT 181,190 7,322,353 8,162,609 0.2 Granite REIT 83,535 5,181,951 6,889,967 0.2 H&R REIT 406,770 7,411,121 6,508,320 0.2 Colliers International Group, Inc. 45,737 4,173,355 6,349,210 0.2 First Capital REIT 313,893 5,412,266 5,524,517 0.1 SmartCentres REIT 186,673 5,135,515 5,482,586 0.1 Choice Properties REIT 369,942 4,736,042 5,286,471 0.1 Chartwell Retirement Residences 310,461 3,657,616 4,113,608 0.1 Cominar REIT 241,789 2,640,256 2,642,754 0.1 Boardwalk REIT 54,816 2,266,183 2,240,878 0.1 Artis REIT 151,298 1,615,430 1,696,051 0.0 Dream Office REIT 52,983 1,161,903 1,216,490 0.0 78,523,091 92,131,158 2.3 Technology Shopify, Inc. Class A 162,564 117,924,369 294,707,345 7.4 Constellation Software, Inc. 27,565 31,253,238 51,750,807 1.3 CGI, Inc. 318,110 26,486,465 35,752,383 0.9 Open Text Corp. 390,023 19,247,087 24,551,948 0.6 Lightspeed POS Inc. 117,683 6,491,444 12,209,611 0.3 BlackBerry Ltd. 739,045 8,071,223 11,196,532 0.3 Descartes Systems Group, Inc. 121,544 6,175,731 10,419,967 0.3 Kinaxis, Inc. 38,742 4,269,023 6,317,658 0.1 Enghouse Systems Ltd. 63,194 2,752,788 3,487,677 0.1 Dye & Durham Ltd. 53,977 2,291,196 2,570,925 0.1 Celestica, Inc. 158,452 1,875,919 1,540,153 0.0 226,838,483 454,505,006 11.4 Telecommunications BCE, Inc. 1,307,412 75,617,022 79,922,096 2.0 TELUS Corp. 1,874,598 45,171,525 52,113,824 1.3 Rogers Communications, Inc. Class B 505,580 30,378,580 33,317,722 0.8 Shaw Communications, Inc. Class B 618,149 16,306,065 22,197,731 0.6 Quebecor, Inc. Class B 243,689 6,930,751 8,056,358 0.2 Cogeco Communications, Inc. 30,435 2,890,585 3,689,026 0.1 177,294,528 199,296,757 5.0 Utilities Waste Connections, Inc. 378,486 40,152,578 56,053,777 1.4 Fortis, Inc. 678,074 32,776,345 37,205,920 0.9 Emera, Inc. 366,176 19,519,365 20,593,738 0.5 Algonquin Power & Utilities Corp. 864,398 14,307,354 15,965,431 0.4 Northland Power, Inc. 324,831 10,625,807 13,737,103 0.3 AltaGas Ltd. 402,128 8,826,690 10,463,370 0.3 Brookfield Renewable Corp. 183,749 9,809,503 9,569,648 0.2 GFL Environmental, Inc. 169,719 5,814,622 6,724,267 0.2 Capital Power Corp. 154,545 4,527,911 6,328,618 0.2 Canadian Utilities Ltd. Class A 177,577 6,203,847 6,108,649 0.2 Brookfield Infrastructure Corp. Class A 52,421 4,148,992 4,897,694 0.1 Atco Ltd. Class I 108,288 4,608,560 4,760,340 0.1 Boralex, Inc. Class A 117,449 4,356,929 4,433,700 0.1 TransAlta Corp. 338,375 2,927,692 4,178,931 0.1 Innergex Renewable Energy, Inc. 188,874 3,283,642 4,070,235 0.1 Superior Plus Corp. 212,851 2,554,134 3,250,235 0.1

69 Vanguard FTSE Canada All Cap Index ETF

Description Number of Shares Cost ($) Fair Value ($) % of Net Assets TransAlta Renewables, Inc. 154,995 2,396,874 3,228,546 0.1 176,840,845 211,570,202 5.3 Total investments 3,153,626,111 3,975,369,389 99.7 Futures contracts (Schedule 1) 47,969 0.0 Other assets and liabilities (net) 11,580,542 0.3 Total net assets attributable to holders of redeemable units 3,986,997,900 100.0

Schedule 1—Futures Contracts As at June 30, 2021 (unaudited)

Unrealized Appreciation Number of (Depreciation) Contracts Description Expiration Date Contract Value Notional Value ($) 42 S&P/TSX 60 Index Sep 16/21 CAD 10,054,711 CAD 10,102,680 47,969 Unrealized appreciation of futures contracts 47,969 Net unrealized appreciation of futures contracts 47,969

Fund-Specific Notes—Concentration Risk As at June 30, 2021 (unaudited), and December 31, 2020 % of net assets attributable to holders of redeemable units

June 30, December 31, Sector Allocation 2021 2020 Equities Financials 32.9 31.9 Energy 13.7 12.1 Basic Materials 11.5 12.8 Technology 11.4 10.7 Industrials 8.6 9.9 Consumer Discretionary 6.0 6.6 Utilities 5.3 5.8 Telecommunications 5.0 4.6 Real Estate 2.3 2.2 Consumer Staples 2.2 2.3 Health Care 0.8 0.9 Other assets and liabilities (net) 0.3 0.2 100.0 100.0

70 Vanguard FTSE Canada Index ETF

Statement of Financial Position As at June 30, 2021 (unaudited), and December 31, 2020

June 30, December 31, 2021 2020 Assets Current assets Investments $1,040,534,156 $748,226,976 Cash 5,541,696 4,276,879 Amounts receivable for redeemable units issued 6,486,900 — Amounts receivable for investments sold 6,991,612 — Margin due from brokers 310,890 103,973 Dividends receivable 2,300,967 1,854,656 Unrealized appreciation of foreign currency contracts —2,416 Unrealized appreciation of futures contracts 43,379 — Total assets 1,062,209,600 754,464,900 Liabilities Current liabilities Amounts payable for investments purchased 6,485,175 — Distributions payable 6,977,287 5,662,078 Accrued expenses and other liabilities 33,286 9,841 Unrealized depreciation of futures contracts —7,919 Total liabilities excluding net assets attributable to holders of redeemable units 13,495,748 5,679,838 Total net assets attributable to holders of redeemable units $1,048,713,852 $748,785,062 Number of redeemable units outstanding (Note 9) 24,250,000 20,300,000 Net assets attributable to holders of redeemable units per unit $43.25 $36.89

The accompanying notes are an integral part of the financial statements.

71 Vanguard FTSE Canada Index ETF

Statement of Comprehensive Income For the six months ended June 30, 2021, and June 30, 2020 (unaudited)

2021 2020 Income Net gain (loss) on investments Dividend income $15,115,014 $11,433,828 Interest for distribution purposes 781 65,160 Net realized gain (loss) on sale of investments 15,402,193 686,959 Change in unrealized appreciation/depreciation of investments 127,515,821 (57,144,983) Net gain (loss) on investments 158,033,809 (44,959,036) Net gain (loss) on derivatives Net realized gain (loss) on foreign currency contracts 1,653 — Net realized gain (loss) on futures contracts 530,028 (878,781) Change in unrealized appreciation/depreciation of foreign currency contracts (2,416) — Change in unrealized appreciation/depreciation of futures contracts 51,298 113,879 Net gain (loss) on derivatives 580,563 (764,902) Net realized gain (loss) on foreign currency transactions (47,418) 3,486 Change in unrealized appreciation/depreciation of foreign currency translations 54,516 (937) Total income (net) 158,621,470 (45,721,389) Expenses (Note 10) Management fees 254,337 178,928 Overdraft expenses 793 — Independent Review Committee fees 1,341 1,352 Foreign withholding taxes —1,961 Transaction costs (Note 3) 7,618 10,847 Total expenses 264,089 193,088 Expenses absorbed or waived by manager (1,341) (1,352) Net expenses 262,748 191,736 Increase (decrease) in net assets attributable to holders of redeemable units $158,358,722 $(45,913,125) Weighted average number of redeemable units 22,748,895 19,169,505 Increase (decrease) in net assets attributable to holders of redeemable units per unit $6.96 $(2.40)

The accompanying notes are an integral part of the financial statements.

72 Vanguard FTSE Canada Index ETF

Statement of Changes in Net Assets Attributable to Holders of Redeemable Units For the six months ended June 30, 2021, and June 30, 2020 (unaudited)

2021 2020 Net assets attributable to holders of redeemable units, beginning of period $748,785,062 $679,354,402 Increase (decrease) in net assets attributable to holders of redeemable units $158,358,722 $(45,913,125) Distributions to holders of redeemable units Net investment income (15,293,582) (9,956,526) Total distributions to holders of redeemable units (15,293,582) (9,956,526) Redeemable unit transactions Proceeds from issuance of redeemable units 204,755,235 98,996,550 Payment for redeemable units redeemed (47,891,585) (72,241,080) Net redeemable unit transactions 156,863,650 26,755,470 Net assets attributable to holders of redeemable units, end of period $1,048,713,852 $650,240,221

Statement of Cash Flows For the six months ended June 30, 2021, and June 30, 2020 (unaudited)

2021 2020 Cash flows from (used in) operating activities Increase (decrease) in net assets attributable to holders of redeemable units $158,358,722 $(45,913,125) Adjustments for: Net realized (gain) loss on sale of investments (15,402,193) (686,959) Change in unrealized appreciation/depreciation of investments (127,515,821) 57,144,983 Change in unrealized appreciation/depreciation of derivatives (48,882) (113,879) Change in unrealized appreciation/depreciation of foreign currency translations (54,516) 937 1 Purchase of investments (15,506,624) (29,590,686) 2 Proceeds from sale of investments 15,950,648 38,176,642 Change in working capital (629,783) (89,189) Net cash from (used in) operating activities 15,151,551 18,928,724 Cash flows from (used in) financing activities 1 Proceeds from issuance of redeemable units 46,638 1,721,335 Distributions to holders of redeemable units, net of reinvested distributions (13,978,373) (14,805,862) 2 Payment for redeemable units redeemed (9,515) (3,355,164) Net cash from (used in) financing activities (13,941,250) (16,439,691) Change in unrealized appreciation/depreciation of foreign currency translations 54,516 (937) Net increase (decrease) in cash during the period $1,264,817 $2,488,096 Cash, beginning of period $4,276,879 $2,261,691 Cash, end of period $5,541,696 $4,749,787 Supplemental cash flow information relating to operating activities Dividends received, net of foreign withholding taxes, if applicable $14,668,703 $11,333,559 Interest received, net of foreign withholding taxes, if applicable $781 $65,160 Interest paid $793 —

1 Excludes in-kind transactions of $198,221,697 and $97,274,755 for the periods ended June 30, 2021 and 2020. 2 Excludes in-kind transactions of $47,882,070 and $68,884,997 for the periods ended June 30, 2021 and 2020.

The accompanying notes are an integral part of the financial statements.

73 Vanguard FTSE Canada Index ETF

Schedule of Investment Portfolio As at June 30, 2021 (unaudited)

Description Number of Shares Cost ($) Fair Value ($) % of Net Assets Equities Basic Materials Barrick Gold Corp. 856,384 19,856,183 21,957,686 2.1 Nutrien Ltd. 275,759 17,704,978 20,712,258 2.0 Franco-Nevada Corp. 91,873 10,482,370 16,527,034 1.6 Wheaton Precious Metals Corp. 217,607 7,914,916 11,890,046 1.1 Agnico Eagle Mines Ltd. 117,625 7,339,057 8,817,170 0.9 Teck Resources Ltd. Class B 223,856 5,798,641 6,391,089 0.6 Hydro One Ltd. 152,582 3,800,930 4,571,357 0.4 72,897,075 90,866,640 8.7 Consumer Discretionary Alimentation Couche-Tard, Inc. Class B 387,687 12,466,695 17,659,143 1.7 Magna International, Inc. 135,674 9,209,097 15,571,305 1.5 Restaurant Brands International, Inc. 146,550 10,388,811 11,704,948 1.1 Dollarama, Inc. 142,023 6,600,670 8,058,385 0.8 Canadian Tire Corp. Ltd. Class A 27,386 3,771,557 5,372,038 0.5 42,436,830 58,365,819 5.6 Consumer Staples Metro, Inc. 118,621 5,375,401 7,049,646 0.7 Loblaw Cos. Ltd. 78,261 4,460,990 5,970,532 0.5 Saputo, Inc. 115,000 4,142,389 4,251,550 0.4 George Weston Ltd. 35,510 3,438,345 4,195,506 0.4 17,417,125 21,467,234 2.0 Energy Enbridge, Inc. 978,515 46,235,515 48,563,699 4.6 TC Energy Corp. 473,241 27,025,665 29,028,603 2.8 Canadian Natural Resources Ltd. 561,432 19,468,345 25,264,440 2.4 Suncor Energy, Inc. 728,816 24,819,682 21,638,547 2.0 Pembina Pipeline Corp. 265,794 10,352,371 10,469,626 1.0 Cenovus Energy, Inc. 608,862 7,617,943 7,221,103 0.7 Imperial Oil Ltd. 107,905 3,866,558 4,076,651 0.4 139,386,079 146,262,669 13.9 Financials Royal Bank of Canada 689,157 63,729,273 86,551,228 8.2 Toronto-Dominion Bank 879,356 57,257,107 76,389,656 7.3 Bank of Nova Scotia 586,501 40,014,481 47,283,711 4.5 Brookfield Asset Management, Inc. Class A 647,075 25,261,028 40,921,023 3.9 Bank of Montreal 312,941 28,009,005 39,762,283 3.8 Canadian Imperial Bank of Commerce 211,811 22,165,296 29,888,650 2.8 Manulife Financial Corp. 939,432 20,268,827 22,922,141 2.2 Sun Life Financial, Inc. 283,179 13,821,204 18,100,802 1.7 National Bank of Canada 162,774 9,758,127 15,100,544 1.4 Intact Financial Corp. 68,902 7,800,168 11,603,786 1.1 Power Corp. of Canada 262,238 7,797,631 10,274,485 1.0 Thomson Reuters Corp. 81,325 5,923,488 10,013,547 1.0 Fairfax Financial Holdings Ltd. 12,642 6,914,084 6,872,191 0.7 Great-West Lifeco, Inc. 130,663 4,052,019 4,811,012 0.5 IGM Financial, Inc. 39,124 1,516,183 1,712,066 0.2 Brookfield Asset Management Reinsurance Partners Ltd. Class A 4,501 310,509 294,815 0.0 314,598,430 422,501,940 40.3 Health Care Bausch Health Cos. Inc. 151,028 8,553,826 5,494,399 0.5 Canopy Growth Corp. 116,285 3,719,848 3,486,224 0.3 12,273,674 8,980,623 0.8 Industrials Canadian National Railway Co. 286,238 30,019,566 37,437,068 3.6 Canadian Pacific Railway Ltd. 322,465 18,462,683 30,737,364 2.9 48,482,249 68,174,432 6.5 Technology Shopify, Inc. Class A 54,402 39,950,331 98,623,754 9.4

74 Vanguard FTSE Canada Index ETF

Description Number of Shares Cost ($) Fair Value ($) % of Net Assets Constellation Software, Inc. 9,228 9,834,860 17,324,739 1.7 CGI, Inc. 106,421 7,951,780 11,960,656 1.1 57,736,971 127,909,149 12.2 Telecommunications BCE, Inc. 437,590 25,043,313 26,749,877 2.5 TELUS Corp. 627,288 14,961,984 17,438,606 1.7 Rogers Communications, Inc. Class B 169,215 9,642,062 11,151,269 1.1 Shaw Communications, Inc. Class B 206,767 5,370,753 7,425,003 0.7 55,018,112 62,764,755 6.0 Utilities Waste Connections, Inc. 126,628 12,925,849 18,753,607 1.8 Fortis, Inc. 226,899 10,659,443 12,449,948 1.2 Canadian Utilities Ltd. Class A 59,225 2,088,095 2,037,340 0.2 25,673,387 33,240,895 3.2 Total investments 785,919,932 1,040,534,156 99.2 Futures contracts (Schedule 1) 43,379 0.0 Other assets and liabilities (net) 8,136,317 0.8 Total net assets attributable to holders of redeemable units 1,048,713,852 100.0

Schedule 1—Futures Contracts As at June 30, 2021 (unaudited)

Unrealized Appreciation Number of (Depreciation) Contracts Description Expiration Date Contract Value Notional Value ($) 31 S&P/TSX 60 Index Sep 16/21 CAD 7,413,361 CAD 7,456,740 43,379 Unrealized appreciation of futures contracts 43,379 Net unrealized appreciation of futures contracts 43,379

Fund-Specific Notes—Concentration Risk As at June 30, 2021 (unaudited), and December 31, 2020 % of net assets attributable to holders of redeemable units

June 30, December 31, Sector Allocation 2021 2020 Equities Financials 40.3 39.2 Energy 13.9 12.4 Technology 12.2 11.6 Basic Materials 8.7 9.4 Industrials 6.5 8.7 Telecommunications 6.0 5.8 Consumer Discretionary 5.6 5.9 Utilities 3.2 3.9 Consumer Staples 2.0 2.2 Health Care 0.8 0.8 Short-term — 0.0 Other assets and liabilities (net) 0.8 0.1 100.0 100.0

75 Vanguard FTSE Canadian Capped REIT Index ETF

Statement of Financial Position As at June 30, 2021 (unaudited), and December 31, 2020

June 30, December 31, 2021 2020 Assets Current assets Investments $319,961,190 $262,161,157 Cash 547,659 17,759 Amounts receivable for investments sold — 794,694 Margin due from brokers 57,853 60,864 Dividends receivable 875,968 940,478 Unrealized appreciation of futures contracts 800 — Total assets 321,443,470 263,974,952 Liabilities Current liabilities Distributions payable 799,026 818,442 Accrued expenses and other liabilities 63,023 22,327 Unrealized depreciation of futures contracts —6,187 Total liabilities excluding net assets attributable to holders of redeemable units 862,049 846,956 Total net assets attributable to holders of redeemable units $320,581,421 $263,127,996 Number of redeemable units outstanding (Note 9) 9,100,000 8,950,000 Net assets attributable to holders of redeemable units per unit $35.23 $29.40

The accompanying notes are an integral part of the financial statements.

76 Vanguard FTSE Canadian Capped REIT Index ETF

Statement of Comprehensive Income For the six months ended June 30, 2021, and June 30, 2020 (unaudited)

2021 2020 Income Net gain (loss) on investments Dividend income $241,155 $850,861 Interest for distribution purposes 2,284,826 2,028,288 Net realized gain (loss) on sale of investments 1,863,446 (2,590,048) Change in unrealized appreciation/depreciation of investments 50,340,382 (59,086,702) Net gain (loss) on investments 54,729,809 (58,797,601) Net gain (loss) on derivatives Net realized gain (loss) on foreign currency contracts 37 — Net realized gain (loss) on futures contracts 84,496 — Change in unrealized appreciation/depreciation of futures contracts 6,987 15,428 Net gain (loss) on derivatives 91,520 15,428 Net realized gain (loss) on foreign currency transactions (3,610) (122) Change in unrealized appreciation/depreciation of foreign currency translations 474 462 Total income (net) 54,818,193 (58,781,833) Expenses (Note 10) Management fees 542,040 441,268 Overdraft expenses 341 717 Independent Review Committee fees 1,341 1,352 Transaction costs (Note 3) 1,497 4,315 Total expenses 545,219 447,652 Expenses absorbed or waived by manager (1,341) (1,352) Net expenses 543,878 446,300 Increase (decrease) in net assets attributable to holders of redeemable units $54,274,315 $(59,228,133) Weighted average number of redeemable units 8,641,989 7,658,242 Increase (decrease) in net assets attributable to holders of redeemable units per unit $6.28 $(7.73)

The accompanying notes are an integral part of the financial statements.

77 Vanguard FTSE Canadian Capped REIT Index ETF

Statement of Changes in Net Assets Attributable to Holders of Redeemable Units For the six months ended June 30, 2021, and June 30, 2020 (unaudited)

2021 2020 Net assets attributable to holders of redeemable units, beginning of period $263,127,996 $243,727,331 Increase (decrease) in net assets attributable to holders of redeemable units $54,274,315 $(59,228,133) Distributions to holders of redeemable units Net investment income (2,126,182) (2,437,769) Return of capital (2,430,898) (1,846,476) Total distributions to holders of redeemable units (4,557,080) (4,284,245) Redeemable unit transactions Proceeds from issuance of redeemable units 36,751,690 53,629,745 Payment for redeemable units redeemed (29,015,500) (15,843,510) Net redeemable unit transactions 7,736,190 37,786,235 Net assets attributable to holders of redeemable units, end of period $320,581,421 $218,001,188

Statement of Cash Flows For the six months ended June 30, 2021, and June 30, 2020 (unaudited)

2021 2020 Cash flows from (used in) operating activities Increase (decrease) in net assets attributable to holders of redeemable units $54,274,315 $(59,228,133) Adjustments for: Net realized (gain) loss on sale of investments (1,863,446) 2,590,048 Change in unrealized appreciation/depreciation of investments (50,340,382) 59,086,702 Change in unrealized appreciation/depreciation of derivatives (6,987) (15,428) Change in unrealized appreciation/depreciation of foreign currency translations (474) (462) 1 Purchase of investments (1,300,832) (11,257,139) 2 Proceeds from sale of investments 4,235,639 16,651,989 Change in working capital 108,217 (230,858) Net cash from (used in) operating activities 5,106,050 7,596,719 Cash flows from (used in) financing activities 1 Proceeds from issuance of redeemable units 8,145 1,317,438 Distributions to holders of redeemable units, net of reinvested distributions (4,576,496) (9,451,966) 2 Payment for redeemable units redeemed (8,273) (5,400) Net cash from (used in) financing activities (4,576,624) (8,139,928) Change in unrealized appreciation/depreciation of foreign currency translations 474 462 Net increase (decrease) in cash during the period $529,900 $(542,747) Cash, beginning of period $17,759 $646,078 Cash, end of period $547,659 $103,331 Supplemental cash flow information relating to operating activities Dividends received, net of foreign withholding taxes, if applicable $305,665 $602,975 Interest received, net of foreign withholding taxes, if applicable $2,284,826 $2,028,288 Interest paid $341 $717

1 Excludes in-kind transactions of $36,743,545 and $52,312,085 for the periods ended June 30, 2021 and 2020. 2 Excludes in-kind transactions of $29,007,227 and $15,838,110 for the periods ended June 30, 2021 and 2020.

The accompanying notes are an integral part of the financial statements.

78 Vanguard FTSE Canadian Capped REIT Index ETF

Schedule of Investment Portfolio As at June 30, 2021 (unaudited)

Description Number of Shares Cost ($) Fair Value ($) % of Net Assets Equities Diversified REITs First Capital REIT 1,086,196 18,323,375 19,117,049 6.0 Cominar REIT 836,803 9,082,743 9,146,257 2.8 27,406,118 28,263,306 8.8 Industrial REITs Granite REIT 290,055 17,750,389 23,923,737 7.5 17,750,389 23,923,737 7.5 Office REITs Allied Properties REIT 630,518 24,705,875 28,404,836 8.9 H&R REIT 1,412,157 24,785,939 22,594,512 7.1 Artis REIT 525,383 5,451,620 5,889,543 1.8 Dream Office REIT 185,724 4,056,407 4,264,223 1.3 58,999,841 61,153,114 19.1 Real Estate Holding and Development Chartwell Retirement Residences 1,078,682 12,060,841 14,292,537 4.4 12,060,841 14,292,537 4.4 Real Estate Services FirstService Corp. 189,049 22,704,823 40,193,708 12.5 Colliers International Group, Inc. 158,976 13,445,927 22,069,048 6.9 36,150,750 62,262,756 19.4 Residential REITs Canadian Apartment Properties REIT 857,395 35,443,057 49,831,798 15.6 Boardwalk REIT 190,624 7,860,199 7,792,709 2.4 43,303,256 57,624,507 18.0 Retail REITs RioCan REIT 1,587,505 35,025,216 35,052,111 10.9 SmartCentres REIT 649,628 17,215,267 19,079,574 6.0 Choice Properties REIT 1,281,284 16,213,333 18,309,548 5.7 68,453,816 72,441,233 22.6 Total investments 264,125,011 319,961,190 99.8 Futures contracts (Schedule 1) 800 0.0 Other assets and liabilities (net) 619,431 0.2 Total net assets attributable to holders of redeemable units 320,581,421 100.0

Schedule 1—Futures Contracts As at June 30, 2021 (unaudited)

Unrealized Appreciation Number of (Depreciation) Contracts Description Expiration Date Contract Value Notional Value ($) 2 S&P/TSX 60 Index Sep 16/21 CAD 480,280 CAD 481,080 800 Unrealized appreciation of futures contracts 800 Net unrealized appreciation of futures contracts 800

79 Vanguard FTSE Canadian Capped REIT Index ETF

Fund-Specific Notes—Concentration Risk As at June 30, 2021 (unaudited), and December 31, 2020 % of net assets attributable to holders of redeemable units

June 30, December 31, Sector Allocation 2021 2020 Equities Retail REITs 22.6 22.0 Real Estate Services 19.4 18.4 Office REITs 19.1 19.7 Residential REITs 18.0 18.4 Diversified REITs 8.8 8.1 Industrial REITs 7. 5 8. 5 Real Estate Holding and Development 4.4 4.5 Other assets and liabilities (net) 0.2 0.4 100.0 100.0

80 Vanguard FTSE Canadian High Dividend Yield Index ETF

Statement of Financial Position As at June 30, 2021 (unaudited), and December 31, 2020

June 30, December 31, 2021 2020 Assets Current assets Investments $1,133,248,962 $704,961,718 Cash 2,576,973 3,795,853 Amounts receivable for redeemable units issued 4,018,220 — Amounts receivable for investments sold 4,507,601 — Margin due from brokers 242,161 283,733 Dividends receivable 3,996,931 2,920,814 Unrealized appreciation of futures contracts 39,292 — Total assets 1,148,630,140 711,962,118 Liabilities Current liabilities Amounts payable for investments purchased 4,016,867 — Distributions payable 4,372,165 2,428,388 Accrued expenses and other liabilities 146,337 34,985 Unrealized depreciation of futures contracts —37,452 Total liabilities excluding net assets attributable to holders of redeemable units 8,535,369 2,500,825 Total net assets attributable to holders of redeemable units $1,140,094,771 $709,461,293 Number of redeemable units outstanding (Note 9) 28,400,000 21,650,000 Net assets attributable to holders of redeemable units per unit $40.14 $32.77

The accompanying notes are an integral part of the financial statements.

81 Vanguard FTSE Canadian High Dividend Yield Index ETF

Statement of Comprehensive Income For the six months ended June 30, 2021, and June 30, 2020 (unaudited)

2021 2020 Income Net gain (loss) on investments Dividend income $20,772,880 $14,465,619 Interest for distribution purposes 15,770 3,934 Net realized gain (loss) on sale of investments 11,664,940 (9,624,216) Change in unrealized appreciation/depreciation of investments 161,895,887 (81,462,938) Net gain (loss) on investments 194,349,477 (76,617,601) Net gain (loss) on derivatives Net realized gain (loss) on foreign currency contracts (12) (1,811) Net realized gain (loss) on futures contracts 713,442 401,515 Change in unrealized appreciation/depreciation of futures contracts 76,744 28,133 Net gain (loss) on derivatives 790,174 427,837 Net realized gain (loss) on foreign currency transactions (1,213) 8,096 Change in unrealized appreciation/depreciation of foreign currency translations 2,288 (2,038) Total income (net) 195,140,726 (76,183,706) Expenses (Note 10) Management fees 1,005,850 588,850 Overdraft expenses 326 — Independent Review Committee fees 1,341 1,352 Transaction costs (Note 3) 22,806 30,694 Total expenses 1,030,323 620,896 Expenses absorbed or waived by manager (1,341) (1,352) Net expenses 1,028,982 619,544 Increase (decrease) in net assets attributable to holders of redeemable units $194,111,744 $(76,803,250) Weighted average number of redeemable units 24,474,309 17,424,451 Increase (decrease) in net assets attributable to holders of redeemable units per unit $7.93 $(4.41)

The accompanying notes are an integral part of the financial statements.

82 Vanguard FTSE Canadian High Dividend Yield Index ETF

Statement of Changes in Net Assets Attributable to Holders of Redeemable Units For the six months ended June 30, 2021, and June 30, 2020 (unaudited)

2021 2020 Net assets attributable to holders of redeemable units, beginning of period $709,461,293 $551,991,808 Increase (decrease) in net assets attributable to holders of redeemable units $194,111,744 $(76,803,250) Distributions to holders of redeemable units Net investment income (20,078,291) (13,574,405) Total distributions to holders of redeemable units (20,078,291) (13,574,405) Redeemable unit transactions Proceeds from issuance of redeemable units 290,357,570 109,705,515 Payment for redeemable units redeemed (33,757,545) (21,300,325) Net redeemable unit transactions 256,600,025 88,405,190 Net assets attributable to holders of redeemable units, end of period $1,140,094,771 $550,019,343

Statement of Cash Flows For the six months ended June 30, 2021, and June 30, 2020 (unaudited)

2021 2020 Cash flows from (used in) operating activities Increase (decrease) in net assets attributable to holders of redeemable units $194,111,744 $(76,803,250) Adjustments for: Net realized (gain) loss on sale of investments (11,664,940) 9,624,216 Change in unrealized appreciation/depreciation of investments (161,895,887) 81,462,938 Change in unrealized appreciation/depreciation of derivatives (76,744) (28,133) Change in unrealized appreciation/depreciation of foreign currency translations (2,288) 2,038 1 Purchase of investments (56,285,356) (81,537,310) 2 Proceeds from sale of investments 53,517,819 80,845,229 Change in working capital (923,193) (626,243) Net cash from (used in) operating activities 16,781,155 12,939,485 Cash flows from (used in) financing activities 1 Proceeds from issuance of redeemable units 139,281 1,490,733 Distributions to holders of redeemable units, net of reinvested distributions (18,134,514) (15,581,728) 2 Payment for redeemable units redeemed (7,090) (5,856) Net cash from (used in) financing activities (18,002,323) (14,096,851) Change in unrealized appreciation/depreciation of foreign currency translations 2,288 (2,038) Net increase (decrease) in cash during the period $(1,218,880) $(1,159,404) Cash, beginning of period $3,795,853 $1,011,615 Cash (overdraft), end of period $2,576,973 $(147,789) Supplemental cash flow information relating to operating activities Dividends received, net of foreign withholding taxes, if applicable $19,696,763 $13,807,051 Interest received, net of foreign withholding taxes, if applicable $15,770 $3,934 Interest paid $326 —

1 Excludes in-kind transactions of $286,200,069 and $108,214,383 for the periods ended June 30, 2021 and 2020. 2 Excludes in-kind transactions of $33,750,455 and $21,294,469 for the periods ended June 30, 2021 and 2020.

The accompanying notes are an integral part of the financial statements.

83 Vanguard FTSE Canadian High Dividend Yield Index ETF

Schedule of Investment Portfolio As at June 30, 2021 (unaudited)

Description Number of Shares Cost ($) Fair Value ($) % of Net Assets Equities Basic Materials Nutrien Ltd. 512,813 26,236,383 38,517,384 3.4 Russel Metals, Inc. 55,633 1,353,759 1,884,290 0.2 27,590,142 40,401,674 3.6 Consumer Discretionary North West Co. Inc. 42,821 1,295,426 1,506,871 0.1 1,295,426 1,506,871 0.1 Energy Enbridge, Inc. 1,819,669 84,421,310 90,310,172 7.9 TC Energy Corp. 880,049 51,665,282 53,982,206 4.8 Canadian Natural Resources Ltd. 1,044,054 23,101,100 46,982,430 4.1 Suncor Energy, Inc. 1,355,321 27,203,382 40,239,480 3.5 Pembina Pipeline Corp. 494,277 19,032,475 19,469,571 1.7 Keyera Corp. 197,581 5,832,962 6,581,423 0.6 Gibson Energy, Inc. 131,366 2,800,716 3,119,943 0.3 214,057,227 260,685,225 22.9 Financials Royal Bank of Canada 1,281,574 126,935,914 160,952,879 14.1 Toronto-Dominion Bank 1,635,275 113,288,698 142,056,339 12.5 Bank of Nova Scotia 1,090,670 76,012,798 87,929,815 7.7 Bank of Montreal 581,957 54,869,936 73,943,456 6.5 Canadian Imperial Bank of Commerce 393,890 43,026,361 55,581,818 4.9 Manulife Financial Corp. 1,746,984 39,582,038 42,626,410 3.7 Sun Life Financial, Inc. 526,606 27,973,658 33,660,655 2.9 National Bank of Canada 302,702 19,931,256 28,081,665 2.5 Power Corp. of Canada 487,662 14,698,454 19,106,597 1.7 Great-West Lifeco, Inc. 242,980 7,637,688 8,946,524 0.8 CI Financial Corp. 169,835 3,259,513 3,863,746 0.3 IGM Financial, Inc. 72,845 2,748,175 3,187,697 0.3 Laurentian Bank of Canada 38,975 1,630,670 1,702,818 0.1 First National Financial Corp. 15,355 531,882 755,620 0.1 532,127,041 662,396,039 58.1 Industrials Transcontinental, Inc. Class A 65,422 1,267,466 1,523,024 0.1 Mullen Group Ltd. 81,930 956,800 1,094,585 0.1 2,224,266 2,617,609 0.2 Real Estate Chartwell Retirement Residences 193,243 1,737,239 2,560,470 0.2 1,737,239 2,560,470 0.2 Telecommunications BCE, Inc. 813,767 47,007,828 49,745,577 4.4 TELUS Corp. 1,166,539 28,299,986 32,429,784 2.8 Shaw Communications, Inc. Class B 384,508 10,395,239 13,807,682 1.2 85,703,053 95,983,043 8.4 Utilities Fortis, Inc. 421,962 22,751,819 23,153,055 2.0 Emera, Inc. 227,823 12,185,629 12,812,766 1.1 Algonquin Power & Utilities Corp. 538,353 10,508,341 9,943,380 0.9 AltaGas Ltd. 249,818 5,518,739 6,500,264 0.6 Capital Power Corp. 96,222 2,873,757 3,940,291 0.3 Canadian Utilities Ltd. Class A 110,138 3,872,140 3,788,747 0.3 Atco Ltd. Class I 67,133 2,769,182 2,951,167 0.3 Superior Plus Corp. 132,345 1,620,029 2,020,908 0.2

84 Vanguard FTSE Canadian High Dividend Yield Index ETF

Description Number of Shares Cost ($) Fair Value ($) % of Net Assets TransAlta Renewables, Inc. 95,413 1,544,348 1,987,453 0.2 63,643,984 67,098,031 5.9 Total investments 928,378,378 1,133,248,962 99.4 Futures contracts (Schedule 1) 39,292 0.0 Other assets and liabilities (net) 6,806,517 0.6 Total net assets attributable to holders of redeemable units 1,140,094,771 100.0

Schedule 1—Futures Contracts As at June 30, 2021 (unaudited)

Unrealized Appreciation Number of (Depreciation) Contracts Description Expiration Date Contract Value Notional Value ($) 25 S&P/TSX 60 Index Sep 16/21 CAD 5,974,208 CAD 6,013,500 39,292 Unrealized appreciation of futures contracts 39,292 Net unrealized appreciation of futures contracts 39,292

Fund-Specific Notes—Concentration Risk As at June 30, 2021 (unaudited), and December 31, 2020 % of net assets attributable to holders of redeemable units

June 30, December 31, Sector Allocation 2021 2020 Equities Financials 58.1 59.5 Energy 22.9 23.6 Telecommunications 8.4 8.5 Utilities 5.9 2.8 Basic Materials 3.6 3.9 Industrials 0.2 0.7 Real Estate 0.2 0.2 Consumer Discretionary 0.1 0.2 Short-term — 0.0 Other assets and liabilities (net) 0.6 0.6 100.0 100.0

85 Vanguard FTSE Developed All Cap ex North America Index ETF

Statement of Financial Position As at June 30, 2021 (unaudited), and December 31, 2020

June 30, December 31, 2021 2020 Assets Current assets Investments $2,440,738,238 $1,789,615,812 Cash 14,033,572 8,302,468 Amounts receivable for redeemable units issued 3,245,500 9,221,430 Amounts receivable for investments sold 1,393,726 805,659 Margin due from brokers 1,327,987 827,788 Dividends and interest receivable 6,432,784 4,563,306 Unrealized appreciation of foreign currency contracts 78,697 — Unrealized appreciation of futures contracts — 82,918 Other assets 5,193 14,754 Total assets 2,467,255,697 1,813,434,135 Liabilities Current liabilities Amounts payable for investments purchased 655,322 131,571 Distributions payable 22,807,464 9,767,906 Accrued expenses and other liabilities 428,104 147,285 Unrealized depreciation of foreign currency contracts 2,705 128,755 Unrealized depreciation of futures contracts 18,748 — Total liabilities excluding net assets attributable to holders of redeemable units 23,912,343 10,175,517 Total net assets attributable to holders of redeemable units $2,443,343,354 $1,803,258,618 Number of redeemable units outstanding (Note 9) 76,630,000 59,080,000 Net assets attributable to holders of redeemable units per unit $31.88 $30.52

The accompanying notes are an integral part of the financial statements.

86 Vanguard FTSE Developed All Cap ex North America Index ETF

Statement of Comprehensive Income For the six months ended June 30, 2021, and June 30, 2020 (unaudited)

2021 2020 Income Net gain (loss) on investments Dividend income $38,224,759 $21,981,675 Interest for distribution purposes 11,936 5,069 Net realized gain (loss) on sale of investments 4,314,684 (3,036,595) Change in unrealized appreciation/depreciation of investments 78,716,152 (108,439,238) Net gain (loss) on investments 121,267,531 (89,489,089) Net gain (loss) on derivatives Net realized gain (loss) on foreign currency contracts (452,353) 944,318 Net realized gain (loss) on futures contracts 1,567,190 25,775 Change in unrealized appreciation/depreciation of foreign currency contracts 204,747 (13,815) Change in unrealized appreciation/depreciation of futures contracts (101,666) 99,417 Net gain (loss) on derivatives 1,217,918 1,055,695 Other income 885,484 322,212 Net realized gain (loss) on foreign currency transactions 121,658 (943,615) Change in unrealized appreciation/depreciation of foreign currency translations (61,201) 83,401 Total income (net) 123,431,390 (88,971,396) Expenses (Note 10) Management fees 2,418,138 1,506,006 Overdraft expenses 4,260 2,902 Independent Review Committee fees 1,341 1,352 Foreign withholding taxes 3,724,688 2,267,201 Transaction costs (Note 3) 796,533 293,862 Total expenses 6,944,960 4,071,323 Expenses absorbed or waived by manager (1,341) (1,352) Net expenses 6,943,619 4,069,971 Increase (decrease) in net assets attributable to holders of redeemable units $116,487,771 $(93,041,367) Weighted average number of redeemable units 67,878,895 50,959,121 Increase (decrease) in net assets attributable to holders of redeemable units per unit $1.72 $(1.83)

The accompanying notes are an integral part of the financial statements.

87 Vanguard FTSE Developed All Cap ex North America Index ETF

Statement of Changes in Net Assets Attributable to Holders of Redeemable Units For the six months ended June 30, 2021, and June 30, 2020 (unaudited)

2021 2020 Net assets attributable to holders of redeemable units, beginning of period $1,803,258,618 $1,340,545,489 Increase (decrease) in net assets attributable to holders of redeemable units $116,487,771 $(93,041,367) Distributions to holders of redeemable units Net investment income (29,830,895) (14,776,034) Total distributions to holders of redeemable units (29,830,895) (14,776,034) Redeemable unit transactions Proceeds from issuance of redeemable units 553,427,860 199,791,360 Payment for redeemable units redeemed — (5,092,380) Net redeemable unit transactions 553,427,860 194,698,980 Net assets attributable to holders of redeemable units, end of period $2,443,343,354 $1,427,427,068

Statement of Cash Flows For the six months ended June 30, 2021, and June 30, 2020 (unaudited)

2021 2020 Cash flows from (used in) operating activities Increase (decrease) in net assets attributable to holders of redeemable units $116,487,771 $(93,041,367) Adjustments for: Net realized (gain) loss on sale of investments (4,314,684) 3,036,595 Change in unrealized appreciation/depreciation of investments (78,716,152) 108,439,238 Change in unrealized appreciation/depreciation of derivatives (103,081) (85,602) Change in unrealized appreciation/depreciation of foreign currency translations 61,201 (83,401) Purchase of investments (620,986,915) (231,116,193) Proceeds from sale of investments 52,831,009 33,539,653 Change in working capital (2,079,297) (804,942) Net cash from (used in) operating activities (536,820,148) (180,116,019) Cash flows from (used in) financing activities Proceeds from issuance of redeemable units 559,403,790 199,791,360 Distributions to holders of redeemable units, net of reinvested distributions (16,791,337) (7,342,783) Payment for redeemable units redeemed — (5,092,380) Net cash from (used in) financing activities 542,612,453 187,356,197 Change in unrealized appreciation/depreciation of foreign currency translations (61,201) 83,401 Net increase (decrease) in cash during the period $5,731,104 $7,323,579 Cash, beginning of period $8,302,468 $8,327,893 Cash, end of period $14,033,572 $15,651,472 Supplemental cash flow information relating to operating activities Dividends received, net of foreign withholding taxes, if applicable $32,631,786 $18,789,345 Interest received, net of foreign withholding taxes, if applicable $10,743 $5,062 Interest paid $4,260 $2,902

The accompanying notes are an integral part of the financial statements.

88 Vanguard FTSE Developed All Cap ex North America Index ETF

Schedule of Investment Portfolio As at June 30, 2021 (unaudited)

Description Number of Shares Cost ($) Fair Value ($) % of Net Assets Equities Basic Materials BHP Group Ltd. 273,026 9,299,570 12,328,023 0.5 Rio Tinto plc 100,664 7,599,613 10,244,228 0.4 BASF SE 84,974 8,958,168 8,290,674 0.4 Shin-Etsu Chemical Co. Ltd. 37,000 5,644,511 7,669,896 0.3 BHP Group plc 193,981 5,658,276 7,068,055 0.3 Glencore plc 1,124,827 5,322,855 5,954,391 0.3 Anglo American plc ADR 115,224 4,044,025 5,661,925 0.3 Givaudan SA 856 3,330,608 4,934,402 0.2 Air Liquide SA Loyalty Bonus 22,727 3,435,005 4,928,096 0.3 Air Liquide SA 20,164 3,841,752 4,372,338 0.2 Rio Tinto Ltd. 34,811 3,038,536 4,098,347 0.2 LG Chem Ltd. 3,912 2,349,986 3,656,347 0.2 Fortescue Metals Group Ltd. 149,789 1,635,263 3,250,140 0.2 Akzo Nobel NV 17,246 2,190,105 2,638,944 0.1 ArcelorMittal SA 64,428 1,790,241 2,445,735 0.1 UPM-Kymmene Oyj 50,016 2,067,465 2,343,008 0.1 POSCO 5,987 1,850,718 2,290,963 0.1 Symrise AG Class A 11,661 1,487,591 2,012,092 0.1 Newcrest Mining Ltd. 75,989 1,867,662 1,785,867 0.1 Brenntag SE 14,189 1,123,837 1,634,003 0.1 Nippon Steel Corp. 75,510 1,670,925 1,578,339 0.1 Croda International plc 12,518 1,122,422 1,577,777 0.1 Asahi Kasei Corp. 114,800 1,595,984 1,563,226 0.1 Umicore SA 18,711 1,106,805 1,415,071 0.1 Covestro AG 16,461 1,358,246 1,316,461 0.1 Nitto Denko Corp. 13,700 1,227,763 1,267,118 0.1 Mitsubishi Chemical Holdings Corp. 118,000 1,162,283 1,228,962 0.1 Boliden AB 25,628 964,778 1,220,847 0.1 South32 Ltd. 440,086 1,191,292 1,198,744 0.1 Stora Enso Oyj Class R 52,678 1,044,038 1,190,148 0.1 SKF AB Class B 37,216 1,019,509 1,174,188 0.1 Svenska Cellulosa AB SCA Class B 56,656 1,057,100 1,150,534 0.1 Toray Industries, Inc. 138,600 1,323,560 1,142,901 0.1 Yara International ASA 16,329 923,554 1,064,914 0.1 Sumitomo Metal Mining Co. Ltd. 21,600 971,394 1,042,274 0.1 IMCD NV 5,260 614,412 1,035,830 0.1 Solvay SA Class A 6,345 959,935 998,851 0.1 Northern Star Resources Ltd. 106,648 1,065,544 969,645 0.1 Norsk Hydro ASA 121,498 734,462 960,556 0.1 Arkema SA 6,103 842,061 948,207 0.1 BlueScope Steel Ltd. 46,024 645,612 939,589 0.1 Johnson Matthey plc 17,778 922,933 934,559 0.1 Sumitomo Chemical Co. Ltd. 137,100 873,681 900,938 0.1 Polymetal International plc 33,372 691,790 887,430 0.1 EMS-Chemie Holding AG 654 594,143 796,400 0.1 Antofagasta plc 31,485 557,489 773,158 0.0 KGHM Polska Miedz SA 12,524 486,194 764,425 0.0 Lanxess AG 8,677 748,848 736,753 0.0 Nissan Chemical Corp. 12,100 709,502 734,389 0.0 Evonik Industries AG 17,371 704,127 721,404 0.0 JFE Holdings, Inc. 47,900 902,430 695,272 0.0 Mitsui Chemicals, Inc. 16,100 566,929 688,864 0.0 Mineral Resources Ltd. 12,796 272,323 639,164 0.0 Evolution Mining Ltd. 148,153 640,619 619,790 0.0 OZ Minerals Ltd. 29,450 359,635 615,464 0.0 JSR Corp. 16,400 459,888 614,788 0.0 LG Chem Ltd. Pfd. 1,429 315,019 602,597 0.0 Oji Holdings Corp. 79,600 581,107 566,599 0.0 Voestalpine AG 10,780 511,513 543,617 0.0 Showa Denko KK 14,600 571,124 537,538 0.0 Tosoh Corp. 25,100 534,677 536,551 0.0 Evraz plc 52,427 400,139 530,931 0.0 ICL Group Ltd. 62,219 378,510 522,781 0.0 Clariant AG 20,840 554,092 513,695 0.0 Holmen AB Class B 8,806 345,641 492,554 0.0 Orica Ltd. 36,550 612,884 451,239 0.0

89 Vanguard FTSE Developed All Cap ex North America Index ETF

Description Number of Shares Cost ($) Fair Value ($) % of Net Assets Lynas Rare Earths Ltd. 81,644 253,563 433,393 0.0 Mitsubishi Gas Chemical Co. Inc. 16,300 389,495 428,455 0.0 Hanwha Chemical Corp. 8,736 345,234 427,947 0.0 NSK Ltd. 40,800 549,605 427,433 0.0 Korea Zinc Co. Ltd. 896 455,473 425,127 0.0 Hitachi Metals Ltd. 17,800 306,650 421,810 0.0 Hyundai Steel Co. 6,902 317,652 407,548 0.0 NOF Corp. 6,200 281,261 400,509 0.0 Independence Group NL 56,114 298,123 398,031 0.0 BillerudKorsnas AB 15,980 315,038 393,000 0.0 Lotte Chemical Corp. 1,358 449,271 391,975 0.0 Incitec Pivot Ltd. 176,583 495,611 390,703 0.0 POSCO Chemical Co. Ltd. 2,462 222,596 389,834 0.0 Kumho Petrochemical Co. Ltd. 1,612 221,848 388,185 0.0 Kuraray Co. Ltd. 31,400 541,838 373,797 0.0 Fuchs Petrolub SE Pfd. 6,025 362,658 362,933 0.0 Aurubis AG 3,149 257,399 361,436 0.0 Hexpol AB 22,815 286,252 349,177 0.0 Iluka Resources Ltd. 40,687 328,801 346,097 0.0 Alumina Ltd. 225,502 443,653 344,856 0.0 Nippon Sanso Holdings Corp. 13,500 314,620 342,956 0.0 Victrex plc 7,704 298,934 335,533 0.0 Teijin Ltd. 16,900 406,454 319,217 0.0 Denka Co. Ltd. 7,700 314,839 317,429 0.0 Pilbara Minerals Ltd. 225,932 163,259 304,556 0.0 SSAB AB Class B 55,621 235,953 301,446 0.0 Air Water, Inc. 15,800 329,294 301,083 0.0 Tokai Carbon Co. Ltd. 17,600 253,469 300,825 0.0 K+S AG 17,634 361,790 297,281 0.0 SKC Co. Ltd. 1,696 127,795 295,587 0.0 APERAM SA 4,366 229,792 277,040 0.0 Synthomer plc 32,362 229,988 272,150 0.0 Tokyo Ohka Kogyo Co. Ltd. 3,400 190,925 265,913 0.0 Kaneka Corp. 5,300 254,251 264,613 0.0 Acerinox SA 17,549 264,444 262,475 0.0 Wacker Chemie AG 1,353 196,955 258,394 0.0 OCI NV 8,497 238,366 256,045 0.0 Bodycote plc 17,265 219,941 250,008 0.0 Champion Iron Ltd. 41,825 112,648 248,072 0.0 Borregaard ASA 9,064 158,804 245,213 0.0 Daicel Corp. 23,600 282,884 240,658 0.0 SK Chemicals Co. Ltd. 832 118,025 237,863 0.0 DIC Corp. 7,500 286,918 234,712 0.0 Huabao International Holdings Ltd. 78,000 93,851 232,829 0.0 RHI Magnesita NV 3,332 219,638 231,224 0.0 Ube Industries Ltd. 9,200 247,536 230,844 0.0 Zeon Corp. 13,100 210,142 224,640 0.0 Fresnillo plc 16,604 296,672 219,162 0.0 Kobe Steel Ltd. 27,100 215,015 215,576 0.0 GeneOne Life Science, Inc. 4,074 130,102 211,891 0.0 ADEKA Corp. 9,000 184,623 209,358 0.0 Hansol Chemical Co. Ltd. 775 113,747 209,210 0.0 OCI Co. Ltd. 1,590 183,402 205,430 0.0 Outokumpu Oyj Class A 27,253 192,614 202,186 0.0 Daido Steel Co. Ltd. 3,300 204,222 202,129 0.0 Metsa Board Oyj 15,752 172,446 200,669 0.0 Dowa Holdings Co. Ltd. 4,100 194,147 200,126 0.0 Bekaert SA 3,618 159,534 199,664 0.0 Imerys SA 3,441 252,024 199,093 0.0 Chalice Mining Ltd. 27,979 140,029 193,000 0.0 Ferrexpo plc 25,874 106,798 189,350 0.0 Hill & Smith Holdings plc 7,097 164,159 181,379 0.0 Nippon Kayaku Co. Ltd. 15,000 219,027 175,721 0.0 Lenzing AG 1,155 165,946 175,039 0.0 Nagase & Co. Ltd. 9,400 182,450 173,882 0.0 Fuchs Petrolub SE 3,601 203,290 173,184 0.0 Nippon Shokubai Co. Ltd. 2,900 235,550 172,775 0.0 Deterra Royalties Ltd. 40,295 180,730 168,572 0.0 Mitsui Mining & Smelting Co. Ltd. 4,900 202,384 168,379 0.0 Orocobre Ltd. 27,921 121,394 167,941 0.0 SK Materials Co. Ltd. 421 107,274 162,996 0.0 Centamin plc 94,014 210,837 162,755 0.0 Asahi Holdings, Inc. 6,400 102,163 161,801 0.0 Tokuyama Corp. 6,400 201,096 161,516 0.0

90 Vanguard FTSE Developed All Cap ex North America Index ETF

Description Number of Shares Cost ($) Fair Value ($) % of Net Assets Sumitomo Bakelite Co. Ltd. 2,900 145,790 158,863 0.0 Daio Paper Corp. 7,700 140,122 157,984 0.0 Kolon Industries, Inc. 1,761 114,611 156,459 0.0 Galaxy Resources Ltd. 45,795 95,394 156,245 0.0 Maruichi Steel Tube Ltd. 5,300 196,660 154,274 0.0 SSAB AB Class A 24,989 147,853 151,533 0.0 Kemira Oyj 7,653 136,425 149,246 0.0 Perseus Mining Ltd. 106,953 98,246 145,167 0.0 Soulbrain Co. Ltd. 398 109,990 143,851 0.0 Elementis plc 54,576 170,283 140,694 0.0 Toagosei Co. Ltd. 10,700 153,376 134,778 0.0 De Grey Mining Ltd. 116,160 157,669 133,366 0.0 Lee & Man Paper Manufacturing Ltd. 139,000 143,958 130,990 0.0 NTN Corp. 40,100 162,653 129,743 0.0 Dongkuk Steel Mill Co. Ltd. 5,293 75,179 129,207 0.0 Tessenderlo Group SA 2,457 126,566 128,449 0.0 Salzgitter AG 3,487 147,436 128,324 0.0 Regis Resources Ltd. 56,536 213,177 124,039 0.0 Lintec Corp. 4,600 134,848 123,685 0.0 Troax Group AB 3,046 117,956 123,271 0.0 Yamato Kogyo Co. Ltd. 3,000 92,675 123,004 0.0 Nufarm Ltd. 28,842 173,287 122,804 0.0 Toyobo Co. Ltd. 8,200 157,812 121,951 0.0 Ramelius Resources Ltd. 77,318 109,674 121,835 0.0 Silver Lake Resources Ltd. 77,325 100,718 119,330 0.0 Piedmont Lithium, Inc. CDI 124,312 117,461 118,456 0.0 Israel Corp. Ltd. 312 95,809 117,096 0.0 Lotte Fine Chemical Co. Ltd. 1,570 87,371 113,939 0.0 MMG Ltd. 208,005 122,946 113,432 0.0 Nippon Light Metal Holdings Co. Ltd. 5,430 149,427 113,288 0.0 Petropavlovsk plc 279,854 164,778 113,268 0.0 Nippon Paper Industries Co. Ltd. 8,100 169,277 112,421 0.0 Kloeckner & Co. SE 6,431 85,568 108,983 0.0 St. Barbara Ltd. 67,138 171,524 106,418 0.0 Nickel Mines Ltd. 115,360 109,751 106,172 0.0 Navigator Co. SA 24,981 126,336 105,725 0.0 Sandfire Resources NL 16,555 101,680 105,117 0.0 Fujimi, Inc. 1,800 74,253 101,617 0.0 Elkem ASA 22,312 108,434 100,560 0.0 Robertet SA 65 84,145 99,271 0.0 Gold Road Resources Ltd. 80,105 80,292 93,832 0.0 Tri Chemical Laboratories, Inc. 2,500 64,622 91,765 0.0 Seiren Co. Ltd. 3,600 77,655 88,121 0.0 Nitto Boseki Co. Ltd. 2,300 88,130 88,016 0.0 KH Neochem Co. Ltd. 3,000 93,138 86,388 0.0 Earth Corp. 1,200 80,047 86,354 0.0 SOL SPA 3,410 81,000 85,229 0.0 Tokyo Steel Manufacturing Co. Ltd. 6,800 74,063 84,060 0.0 Inabata & Co. Ltd. 4,400 79,492 83,993 0.0 UACJ Corp. 2,700 76,200 83,834 0.0 Nippon Soda Co. Ltd. 2,300 83,051 82,499 0.0 Hokuetsu Corp. 12,800 90,209 82,400 0.0 Taiyo Holdings Co. Ltd. 1,400 83,210 82,003 0.0 Kumiai Chemical Industry Co. Ltd. 8,557 83,745 81,149 0.0 Nanofilm Technologies International Ltd. 16,000 78,404 80,920 0.0 Hochschild Mining plc 30,829 105,471 80,900 0.0 Svenska Cellulosa AB SCA Class A 3,824 50,940 78,071 0.0 Ecopro Co. Ltd. 1,569 85,540 78,068 0.0 Skellerup Holdings Ltd. 17,985 70,669 77,809 0.0 Dongjin Semichem Co. Ltd. 2,455 70,079 77,340 0.0 Australian Strategic Materials Ltd. 10,658 57,286 77,284 0.0 Hyosung Chemical Corp. 200 30,592 76,971 0.0 Poongsan Corp. 1,786 64,074 74,921 0.0 Osaka Organic Chemical Industry Ltd. 1,500 63,920 73,635 0.0 West African Resources Ltd. 79,496 82,141 73,534 0.0 Fuso Chemical Co. Ltd. 1,600 54,018 73,189 0.0 Korea Petrochemical Ind Co. Ltd. 275 67,808 71,968 0.0 JCU Corp. 1,800 64,388 71,895 0.0 Chunbo Co. Ltd. 353 72,089 71,032 0.0 Yodogawa Steel Works Ltd. 2,700 77,345 67,447 0.0 Japan Wool Textile Co. Ltd. 6,200 70,412 66,890 0.0 Sanyo Chemical Industries Ltd. 1,100 68,633 66,394 0.0 Bellevue Gold Ltd. 74,528 76,951 65,821 0.0 Taekwang Industrial Co. Ltd. 50 64,987 64,106 0.0

91 Vanguard FTSE Developed All Cap ex North America Index ETF

Description Number of Shares Cost ($) Fair Value ($) % of Net Assets Eramet 775 61,404 62,652 0.0 Foosung Co. Ltd. 5,098 63,826 60,822 0.0 Western Areas Ltd. 26,967 67,652 59,917 0.0 SK Discovery Co. Ltd. 1,011 43,726 58,808 0.0 Kanto Denka Kogyo Co. Ltd. 5,300 61,029 58,599 0.0 Nippon Steel Trading Corp. 1,200 62,103 58,507 0.0 Vallourec SA 5,144 177,121 57,712 0.0 T Hasegawa Co. Ltd. 2,100 53,585 57,636 0.0 Huchems Fine Chemical Corp. 2,102 53,234 53,854 0.0 SGL Carbon SE 4,479 54,129 53,211 0.0 Ence Energia y Celulosa SA 10,445 71,538 52,550 0.0 Resolute Mining Ltd. 111,794 87,949 52,485 0.0 Alkane Resources Ltd. 49,061 61,863 52,451 0.0 Altri SGPS SA 6,755 56,380 51,979 0.0 Mount Gibson Iron Ltd. 58,430 36,479 51,332 0.0 Westgold Resources Ltd. 28,440 59,264 49,706 0.0 Aurelia Metals Ltd. 130,013 67,052 49,556 0.0 Texhong Textile Group Ltd. 24,500 24,211 49,067 0.0 Capricorn Metals Ltd. 26,940 50,746 47,585 0.0 Fujibo Holdings, Inc. 1,100 45,966 47,495 0.0 Nippon Carbon Co. Ltd. 1,000 53,552 46,747 0.0 Kuk-il Paper Manufacturing Co. Ltd. 7,205 35,186 45,238 0.0 Kyoei Steel Ltd. 2,800 54,273 45,234 0.0 Seah Besteel Corp. 1,275 27,414 44,443 0.0 Toyo Tanso Co. Ltd. 1,400 43,860 43,797 0.0 Nitta Corp. 1,500 56,718 43,462 0.0 Sanyo Special Steel Co. Ltd. 2,400 51,261 43,164 0.0 Grupa Azoty SA 3,985 45,022 42,775 0.0 Ishihara Sangyo Kaisha Ltd. 3,400 46,224 42,447 0.0 Jupiter Mines Ltd. 156,441 56,275 42,176 0.0 Takasago International Corp. 1,400 51,583 42,173 0.0 Ecopro HN Co. Ltd. 241 32,395 41,844 0.0 Perenti Global Ltd. 66,038 105,430 41,133 0.0 Daejoo Electronic Materials Co. Ltd. 776 37,024 41,128 0.0 Aichi Steel Corp. 1,200 48,931 40,834 0.0 Nippon Yakin Kogyo Co. Ltd. 1,610 35,030 40,775 0.0 Syrah Resources Ltd. 41,065 62,077 39,512 0.0 Shikoku Chemicals Corp. 2,700 42,051 39,462 0.0 Japan Pulp and Paper Co. Ltd. 1,000 48,678 39,384 0.0 Osaka Soda Co. Ltd. 1,400 46,262 37,940 0.0 Young Poong Corp. 53 43,135 37,706 0.0 Ryobi Ltd. 2,000 48,358 34,609 0.0 Oiles Corp. 2,000 39,813 34,542 0.0 Nippon Denko Co. Ltd. 10,000 33,600 34,252 0.0 Kurabo Industries Ltd. 1,600 49,927 33,953 0.0 Songwon Industrial Co. Ltd. 1,583 28,626 33,682 0.0 DKS Co. Ltd. 900 41,150 32,533 0.0 Sumitomo Seika Chemicals Co. Ltd. 800 37,625 32,132 0.0 Nittetsu Mining Co. Ltd. 500 28,170 32,076 0.0 Konishi Co. Ltd. 1,700 32,328 30,612 0.0 Shin-Etsu Polymer Co. Ltd. 2,600 30,518 29,762 0.0 Taki Chemical Co. Ltd. 500 36,623 29,566 0.0 Ciech SA 1,832 29,837 28,901 0.0 Toho Titanium Co. Ltd. 2,500 28,269 28,813 0.0 Tokushu Tokai Paper Co. Ltd. 600 34,330 28,718 0.0 Hansol Paper Co. Ltd. 1,576 27,335 28,334 0.0 ENF Technology Co. Ltd. 710 32,900 27,793 0.0 Alconix Corp. 1,600 35,766 26,152 0.0 Okabe Co. Ltd. 3,600 39,458 25,866 0.0 Kolon Corp. 682 29,921 25,797 0.0 Stella Chemifa Corp. 800 31,466 25,723 0.0 Toho Zinc Co. Ltd. 1,200 38,292 25,183 0.0 Okura Industrial Co. Ltd. 900 27,734 25,103 0.0 Tayca Corp. 1,700 46,799 24,334 0.0 Valqua Ltd. 1,000 27,339 24,244 0.0 AK Holdings, Inc. 675 27,439 24,196 0.0 Jacquet Metals SACA 843 22,798 24,140 0.0 KISWIRE Ltd. 872 25,592 24,067 0.0 Arakawa Chemical Industries Ltd. 1,800 30,637 23,938 0.0 Andromeda Metals Ltd. 171,142 67,954 23,865 0.0 Chori Co. Ltd. 1,200 24,362 23,028 0.0 TK Corp. 1,847 22,169 22,543 0.0 Asahi Yukizai Corp. 1,500 25,152 22,392 0.0 Hansol Holdings Co. Ltd. 4,255 23,182 22,341 0.0

92 Vanguard FTSE Developed All Cap ex North America Index ETF

Description Number of Shares Cost ($) Fair Value ($) % of Net Assets Kurimoto Ltd. 1,200 27,174 22,117 0.0 KISCO Corp. 1,961 19,017 22,102 0.0 Sung Kwang Bend Co. Ltd. 2,078 23,219 22,073 0.0 Hodogaya Chemical Co. Ltd. 500 28,099 22,035 0.0 Texwinca Holdings Ltd. 80,000 31,361 21,941 0.0 Nichiban Co. Ltd. 1,100 32,032 21,600 0.0 Matsuda Sangyo Co. Ltd. 900 20,008 21,558 0.0 Osaka Steel Co. Ltd. 1,700 24,065 21,148 0.0 Namhae Chemical Corp. 1,867 18,599 21,145 0.0 Komatsu Matere Co. Ltd. 2,100 20,342 21,133 0.0 Unitika Ltd. 5,300 29,845 20,814 0.0 Nihon Nohyaku Co. Ltd. 3,700 24,825 20,805 0.0 Sakai Chemical Industry Co. Ltd. 1,000 31,168 20,640 0.0 Macmahon Holdings Ltd. 111,971 16,916 19,778 0.0 Krosaki Harima Corp. 400 23,939 19,212 0.0 Pacific Metals Co. Ltd. 1,000 34,112 18,989 0.0 Achilles Corp. 1,200 28,002 18,248 0.0 Hyundai Bioland Co. Ltd. 721 22,641 17,957 0.0 Koatsu Gas Kogyo Co. Ltd. 2,400 26,082 17,458 0.0 Topy Industries Ltd. 1,200 33,503 17,351 0.0 Neturen Co. Ltd. 2,600 30,604 16,244 0.0 Namsun Aluminum Co. Ltd. 3,540 21,636 14,908 0.0 New Century Resources Ltd. 72,482 36,408 14,487 0.0 Dacian Gold Ltd. 56,054 40,095 13,549 0.0 MACA Ltd. 18,680 25,948 13,111 0.0 Tomoku Co. Ltd. 600 13,999 12,692 0.0 OSAKA Titanium Technologies Co. Ltd. 1,400 29,487 12,371 0.0 Godo Steel Ltd. 600 13,032 11,072 0.0 Soulbrain Holdings Co. Ltd. 259 35,871 10,537 0.0 Chuetsu Pulp & Paper Co. Ltd. 200 4,666 2,856 0.0 Gun-Ei Chemical Industry Co. Ltd. 100 4,371 2,740 0.0 Juno Minerals Ltd. 9,582 1,821 1,737 0.0 Nakayama Steel Works Ltd. 300 2,663 1,352 0.0 143,622,290 170,415,133 7.0 Consumer Discretionary Toyota Motor Corp. 228,362 19,872,533 24,739,168 1.0 LVMH Moet Hennessy Louis Vuitton SE 23,098 13,087,061 22,430,919 0.9 Sony Group Corp. 115,100 9,732,840 13,888,133 0.6 Daimler AG 77,882 6,908,746 8,612,044 0.4 adidas AG 17,775 6,330,169 8,193,606 0.4 Kering SA 6,816 4,928,315 7,376,855 0.3 Cie Financiere Richemont SA Series A 47,669 5,152,782 7,149,070 0.3 Nintendo Co. Ltd. 9,900 5,236,251 7,137,468 0.3 L'Oréal SA Loyalty Bonus 11,754 3,702,215 6,486,593 0.3 Honda Motor Co. Ltd. 159,100 5,924,472 6,301,451 0.3 L'Oréal SA 10,497 4,567,766 5,792,901 0.3 Wesfarmers Ltd. 104,772 4,430,594 5,756,441 0.3 RELX plc 172,481 5,147,707 5,665,885 0.3 Volkswagen AG Pfd. 16,859 4,177,604 5,228,774 0.2 Hermes International 2,878 2,963,994 5,192,065 0.2 Stellantis NV 189,082 3,587,015 4,595,078 0.2 Fast Retailing Co. Ltd. 4,800 3,710,252 4,478,632 0.2 Compass Group plc 166,207 4,425,392 4,327,380 0.2 Industria de Diseno Textil SA 98,021 4,125,587 4,276,574 0.2 Seven & i Holdings Co. Ltd. 71,600 3,662,977 4,231,409 0.2 Bayerische Motoren Werke AG 29,106 3,317,441 3,817,304 0.2 Denso Corp. 42,700 2,793,759 3,610,620 0.2 Flutter Entertainment plc 15,442 3,178,346 3,472,213 0.2 Shiseido Co. Ltd. 35,900 2,943,397 3,272,741 0.2 Cie Generale des Etablissements Michelin SCA 16,364 2,701,598 3,232,108 0.2 Oriental Land Co. Ltd. 17,500 2,799,171 3,090,729 0.1 Wolters Kluwer NV 24,351 2,166,690 3,029,542 0.1 Zalando SE 20,130 1,991,797 3,013,736 0.1 Bridgestone Corp. 53,200 2,711,771 3,000,370 0.1 Hyundai Motor Co. 11,185 2,039,494 2,945,582 0.1 Evolution AB 14,952 1,222,884 2,927,892 0.1 Delivery Hero SE 17,719 2,150,488 2,898,669 0.1 Ferrari NV 11,293 2,180,551 2,885,577 0.1 Vivendi SE 69,113 2,476,982 2,875,282 0.1 Panasonic Corp. 198,800 2,825,638 2,851,218 0.1 Techtronic Industries Co. Ltd. 116,000 1,364,641 2,508,156 0.1 H & M Hennes & Mauritz AB Class B 81,279 2,239,385 2,389,048 0.1 Aristocrat Leisure Ltd. 58,858 1,581,155 2,357,780 0.1

93 Vanguard FTSE Developed All Cap ex North America Index ETF

Description Number of Shares Cost ($) Fair Value ($) % of Net Assets Kia Corp. 23,723 1,312,110 2,337,261 0.1 Daiwa House Industry Co. Ltd. 59,100 2,421,782 2,199,001 0.1 Suzuki Motor Corp. 41,800 2,435,243 2,192,343 0.1 Shimano, Inc. 7,200 1,595,896 2,116,680 0.1 Henkel AG & Co. KGaA Pfd. 16,010 2,312,466 2,093,392 0.1 Galaxy Entertainment Group Ltd. 200,000 1,825,547 1,982,020 0.1 Hyundai Mobis Co. Ltd. 5,885 1,668,747 1,889,552 0.1 Porsche Automobil Holding SE Pfd. 14,221 1,334,758 1,887,037 0.1 WPP plc 113,149 2,029,457 1,885,645 0.1 Continental AG 10,010 2,196,879 1,822,468 0.1 Moncler SPA 19,901 1,161,883 1,667,558 0.1 Publicis Groupe SA 20,702 1,506,330 1,639,825 0.1 Entain plc 53,852 943,942 1,607,988 0.1 Next plc 11,868 1,250,456 1,594,924 0.1 Toyota Industries Corp. 14,800 1,215,062 1,586,818 0.1 Bandai Namco Holdings, Inc. 18,200 1,311,434 1,565,147 0.1 Nitori Holdings Co. Ltd. 6,900 1,392,221 1,513,473 0.1 Persimmon plc 29,514 1,243,424 1,493,439 0.1 Pandora A/S 8,947 941,277 1,489,448 0.1 InterContinental Hotels Group plc 17,445 1,385,485 1,435,414 0.1 NCSoft Corp. 1,587 1,047,624 1,430,937 0.1 Puma SE 9,523 973,131 1,406,145 0.1 Subaru Corp. 56,500 1,950,153 1,381,440 0.1 Sumitomo Electric Industries Ltd. 73,100 1,329,286 1,336,714 0.1 Sekisui House Ltd. 52,100 1,260,645 1,324,429 0.1 Burberry Group plc 37,449 1,184,281 1,323,523 0.1 Makita Corp. 22,500 1,153,121 1,312,884 0.1 LG Electronics, Inc. 7,031 788,489 1,264,051 0.1 Volkswagen AG 3,087 765,635 1,254,807 0.1 Informa plc 143,138 1,575,784 1,228,213 0.1 Kingfisher plc 196,972 938,832 1,228,183 0.1 Pan Pacific International Holdings Corp. 47,100 1,012,756 1,211,776 0.1 Sands China Ltd. 225,200 1,373,044 1,174,230 0.1 Hyundai Motor Co. Pfd. 8,846 863,919 1,121,204 0.0 Barratt Developments plc 92,411 981,666 1,098,992 0.1 Henkel AG & Co. KGaA 9,630 1,253,483 1,098,100 0.1 Nissan Motor Co. Ltd. 176,500 1,578,549 1,085,612 0.1 Nexon Co. Ltd. 38,000 881,949 1,049,727 0.1 Whitbread plc 18,939 1,056,742 1,011,465 0.1 Pearson plc 70,823 914,738 1,005,573 0.1 Yamaha Corp. 14,300 880,005 962,045 0.1 Swatch Group AG (Bearer) 2,170 912,708 922,691 0.1 Dentsu, Inc. 20,700 1,034,232 918,014 0.1 Tabcorp Holdings Ltd. 189,061 800,862 910,444 0.1 Taylor Wimpey plc 330,022 990,555 897,356 0.1 Yamaha Motor Co. Ltd. 26,000 760,405 876,037 0.1 Aisin Corp. 16,100 830,388 853,221 0.1 Renault SA 16,940 1,363,187 847,912 0.1 Valeo SA 21,961 1,210,652 818,176 0.1 Koito Manufacturing Co. Ltd. 10,500 787,341 809,486 0.1 Berkeley Group Holdings plc 10,249 725,742 805,616 0.1 B&M European Value Retail SA 81,697 587,056 801,075 0.1 Keio Corp. 10,600 789,502 772,256 0.1 Accor SA 16,696 913,383 772,075 0.1 Allegro.eu SA 35,269 904,275 752,787 0.1 Ubisoft Entertainment SA 8,660 842,348 750,824 0.1 JD Sports Fashion plc 46,918 525,751 737,592 0.1 Electrolux AB Series B 21,246 680,740 730,004 0.1 ITV plc 338,905 808,944 727,873 0.1 Howden Joinery Group plc 52,065 525,821 727,305 0.1 Bayerische Motoren Werke AG Pfd. 6,329 544,102 704,496 0.1 Konami Holdings Corp. 9,400 609,729 699,513 0.1 Faurecia SE 11,017 735,017 669,063 0.0 Sekisui Chemical Co. Ltd. 31,200 680,082 661,031 0.0 Bellway plc 11,687 624,804 647,753 0.0 Amorepacific Corp. 2,337 648,826 647,573 0.0 Husqvarna AB Class B 38,689 482,177 636,940 0.0 LG Electronics, Inc. Pfd. 7,291 243,456 630,945 0.0 MonotaRO Co. Ltd. 21,300 425,349 624,996 0.0 Mazda Motor Corp. 53,600 718,860 624,320 0.0 Domino's Pizza Enterprises Ltd. 5,566 329,289 623,573 0.0 Swatch Group AG 7,624 554,435 623,531 0.0 Nokian Renkaat Oyj 12,409 557,586 620,480 0.0 Dometic Group AB 29,096 411,262 614,034 0.0

94 Vanguard FTSE Developed All Cap ex North America Index ETF

Description Number of Shares Cost ($) Fair Value ($) % of Net Assets Travis Perkins plc 20,485 568,376 591,871 0.0 Capcom Co. Ltd. 16,300 354,719 591,035 0.0 Games Workshop Group plc 2,999 311,969 584,847 0.0 La Francaise des Jeux SAEM 7,891 392,574 574,530 0.0 HYBE Co. Ltd. 1,766 599,360 567,997 0.0 Ryohin Keikaku Co. Ltd. 21,500 654,932 558,903 0.0 Future plc 10,322 285,828 553,027 0.0 Singapore Airlines Ltd. 123,160 603,140 550,267 0.0 Korean Air Lines Co. Ltd. 15,784 406,103 546,710 0.0 Thule Group AB 9,732 336,157 534,626 0.0 Toho Co. Ltd. 10,100 483,960 516,094 0.0 Adevinta ASA Class B 21,543 369,320 511,511 0.0 Kose Corp. 2,600 512,802 507,057 0.0 Sodexo SA 4,348 545,681 502,503 0.0 Asics Corp. 15,800 339,630 495,695 0.0 Food & Life Cos. Ltd. 9,196 267,231 491,960 0.0 JB Hi-Fi Ltd. 10,177 332,734 478,542 0.0 Rubis SCA 8,517 597,883 468,896 0.0 Stanley Electric Co. Ltd. 13,000 493,188 466,301 0.0 Chow Tai Fook Jewellery Group Ltd. 160,800 263,980 454,859 0.0 Prada SPA 47,700 266,206 448,373 0.0 Sodexo SA Loyalty Bonus 3,846 564,954 444,486 0.0 Woongjin Coway Co. Ltd. 5,130 497,814 443,937 0.0 Marks & Spencer Group plc 176,329 669,867 441,748 0.0 Marui Group Co. Ltd. 18,700 483,818 435,626 0.0 LPP SA 103 272,843 431,180 0.0 Square Enix Holdings Co. Ltd. 7,000 410,685 430,320 0.0 ZOZO, Inc. 10,100 317,694 425,383 0.0 CTS Eventim AG & Co. KGaA 5,453 387,575 422,008 0.0 ANA Holdings, Inc. 14,457 541,864 421,302 0.0 TUI AG 66,419 646,068 419,825 0.0 Iida Group Holdings Co. Ltd. 13,000 314,516 414,812 0.0 Hakuhodo DY Holdings, Inc. 21,500 387,994 413,540 0.0 Man Wah Holdings Ltd. 138,000 198,878 410,608 0.0 Vistry Group plc 20,285 394,332 408,252 0.0 USS Co. Ltd. 18,800 446,892 406,494 0.0 Casio Computer Co. Ltd. 19,600 411,253 406,079 0.0 Genting Singapore Ltd. 521,000 464,343 400,762 0.0 Minth Group Ltd. 68,000 358,715 400,103 0.0 Kyushu Railway Co. 14,296 543,164 399,703 0.0 Countryside Properties plc 49,386 322,165 399,263 0.0 Nikon Corp. 29,900 504,820 395,304 0.0 Rinnai Corp. 3,300 359,190 389,162 0.0 Deutsche Lufthansa AG 27,753 602,944 386,768 0.0 Yamada Holdings Co. Ltd. 67,000 438,193 383,472 0.0 Hankook Tire & Technology Co. Ltd. 6,737 331,836 382,989 0.0 Skylark Holdings Co. Ltd. 21,952 431,756 377,905 0.0 Nifco, Inc. 8,000 304,274 374,424 0.0 Nordic Entertainment Group AB Class B 6,830 316,125 372,832 0.0 Dufry AG 4,977 492,120 365,374 0.0 carsales.com Ltd. 19,726 324,767 362,366 0.0 Japan Airlines Co. Ltd. 13,400 479,261 358,954 0.0 Nine Entertainment Co. Holdings Ltd. 131,504 306,675 355,757 0.0 Breville Group Ltd. 12,692 234,848 352,913 0.0 CD Projekt SA 5,806 434,731 349,413 0.0 Crown Resorts Ltd. 31,303 311,450 346,592 0.0 Carnival plc 12,174 702,178 345,869 0.0 ProSiebenSat.1 Media SE 13,976 414,573 344,286 0.0 Hella GmbH & Co. KGaA 4,058 269,039 344,202 0.0 Pets at Home Group plc 43,694 189,038 340,838 0.0 easyJet plc 22,015 383,151 336,981 0.0 NGK Spark Plug Co. Ltd. 18,000 444,644 330,556 0.0 Auto1 Group SE 6,010 332,295 326,992 0.0 SSP Group plc 71,359 473,105 325,195 0.0 Lagardere SCA 10,625 333,494 325,163 0.0 Hugo Boss AG 4,797 363,126 323,197 0.0 De' Longhi SPA 5,956 232,529 321,342 0.0 WH Smith plc 11,348 367,545 312,249 0.0 Pirelli & C. SPA 42,844 358,021 308,039 0.0 International Consolidated Airlines Group SA 103,199 457,816 307,563 0.0 Samsonite International SA 121,200 404,939 306,895 0.0 E-MART, Inc. 1,735 358,420 305,245 0.0 Fila Korea Ltd. 4,767 235,850 305,069 0.0 D'ieteren Group 2,031 157,915 304,218 0.0

95 Vanguard FTSE Developed All Cap ex North America Index ETF

Description Number of Shares Cost ($) Fair Value ($) % of Net Assets Hotel Shilla Co. Ltd. 2,841 264,916 303,021 0.0 SEB SA 1,343 273,238 300,563 0.0 Zensho Holdings Co. Ltd. 9,400 276,861 299,207 0.0 Watches of Switzerland Group plc 20,844 171,908 298,091 0.0 HLB, Inc. 8,010 364,819 294,177 0.0 Sumitomo Forestry Co. Ltd. 12,900 280,455 292,884 0.0 Domino's Pizza Group plc 43,273 238,738 287,661 0.0 Sumitomo Rubber Industries Ltd. 16,800 277,054 287,338 0.0 ComfortDelGro Corp. Ltd. 189,800 365,779 286,749 0.0 Sega Sammy Holdings, Inc. 17,600 327,095 286,294 0.0 Qantas Airways Ltd. 65,974 309,806 285,812 0.0 IDP Education Ltd. 12,507 180,929 285,331 0.0 Redrow plc 27,197 300,116 284,637 0.0 Harvey Norman Holdings Ltd. 55,345 229,250 281,955 0.0 AP Eagers Ltd. 18,194 192,767 280,098 0.0 Kangwon Land, Inc. 9,458 318,239 279,757 0.0 SKYCITY Entertainment Group Ltd. 91,981 290,641 279,353 0.0 Wizz Air Holdings plc 3,456 217,435 276,032 0.0 Dr. Martens plc 36,141 262,409 275,119 0.0 Isetan Mitsukoshi Holdings Ltd. 31,400 375,081 271,152 0.0 Star Entertainment Group Ltd. 78,783 325,677 270,259 0.0 Bapcor Ltd. 33,671 207,225 266,070 0.0 Hyosung TNC Corp. 267 68,045 264,231 0.0 RTL Group SA 3,565 262,952 263,069 0.0 Wynn Macau Ltd. 134,400 379,352 261,883 0.0 JTEKT Corp. 20,400 317,042 259,236 0.0 Hanon Systems 14,209 214,604 258,578 0.0 Yokohama Rubber Co. Ltd. 9,700 243,528 257,459 0.0 J Front Retailing Co. Ltd. 22,300 363,610 245,066 0.0 Fancl Corp. 6,100 198,823 245,005 0.0 ARB Corp. Ltd. 6,098 136,590 244,845 0.0 Dunelm Group plc 9,980 173,502 242,256 0.0 TS Tech Co. Ltd. 12,500 243,710 239,175 0.0 Toyo Tire Corp. 9,100 191,680 238,386 0.0 JCDecaux SA 6,851 250,767 235,219 0.0 Goldwin, Inc. 3,200 210,519 233,134 0.0 zooplus AG 581 126,498 233,094 0.0 SJM Holdings Ltd. 172,000 245,284 232,574 0.0 Netmarble Corp. 1,568 240,592 231,036 0.0 Brunello Cucinelli SPA 3,178 152,087 230,171 0.0 Forbo Holding AG 98 195,917 230,012 0.0 Gamesys Group plc 7,212 157,088 227,498 0.0 Pearl Abyss Corp. 2,716 151,910 226,076 0.0 Shimamura Co. Ltd. 1,900 230,126 225,971 0.0 Singapore Press Holdings Ltd. 142,900 288,910 225,108 0.0 Fielmann AG 2,305 228,613 223,234 0.0 Stroeer SE & Co. KGaA 2,250 216,574 223,194 0.0 Toyoda Gosei Co. Ltd. 7,300 221,688 222,752 0.0 Mando Corp. 3,042 174,626 222,439 0.0 Basic-Fit NV 4,172 188,864 220,925 0.0 Amorepacific Corp. Pfd. 2,266 252,886 219,516 0.0 K's Holdings Corp. ADR 15,400 230,571 219,409 0.0 MIPS AB 2,051 184,929 218,572 0.0 Trainline plc 43,251 352,770 217,227 0.0 National Express Group plc 47,470 251,171 216,491 0.0 Pola Orbis Holdings, Inc. 6,600 214,352 216,046 0.0 Dixons Carphone plc 95,858 277,884 213,501 0.0 JS Global Lifestyle Co. Ltd. 61,000 155,065 212,529 0.0 Brembo SPA 13,374 218,926 209,752 0.0 Trigano SA 804 142,672 205,674 0.0 Mitsubishi Motors Corp. 58,800 350,457 204,679 0.0 Shinsegae, Inc. 643 197,036 201,858 0.0 Playtech plc 27,585 257,322 200,645 0.0 SATS Ltd. 54,700 222,744 198,035 0.0 Benesse Holdings, Inc. 6,400 223,955 197,289 0.0 Aston Martin Lagonda Global Holdings plc 6,032 216,802 193,732 0.0 ABC-Mart, Inc. 2,700 206,914 191,887 0.0 Amorepacific Group 2,721 260,350 191,487 0.0 Kadokawa Dwango 3,800 107,843 191,206 0.0 Sixt SE 1,138 148,148 189,843 0.0 Corporate Travel Management Ltd. 9,465 176,863 189,094 0.0 Cie Plastic Omnium SA 4,872 208,680 188,450 0.0 Yue Yuen Industrial Holdings Ltd. 61,000 225,940 186,559 0.0 Flight Centre Travel Group Ltd. 13,348 266,013 184,274 0.0

96 Vanguard FTSE Developed All Cap ex North America Index ETF

Description Number of Shares Cost ($) Fair Value ($) % of Net Assets CJ ENM Co. Ltd. 913 204,556 183,417 0.0 Cheil Worldwide, Inc. 6,473 176,879 179,008 0.0 Super Retail Group Ltd. 14,861 133,602 178,359 0.0 Bilia AB Class A 6,794 93,039 178,350 0.0 BHG Group AB 7,410 161,377 177,569 0.0 Frasers Group plc 17,197 109,624 177,244 0.0 IPSOS 3,376 149,698 176,245 0.0 Bic Camera, Inc. 14,100 209,521 176,032 0.0 Granges AB 10,179 182,874 175,242 0.0 Jardine Cycle & Carriage Ltd. 8,900 251,938 175,127 0.0 F&F Co. Ltd. 281 114,342 173,031 0.0 Global Fashion Group SA 9,212 164,584 172,750 0.0 Technogym SPA 10,869 147,750 171,742 0.0 CIE Automotive SA 4,675 163,014 171,356 0.0 Daiichi Kosho Co. Ltd. 3,600 206,899 171,302 0.0 Takashimaya Co. Ltd. 12,700 199,945 171,164 0.0 Sotetsu Holdings, Inc. 7,000 236,858 170,957 0.0 PointsBet Holdings Ltd. 14,174 117,129 168,401 0.0 Izumi Co. Ltd. 3,600 191,283 167,888 0.0 Sixt SE Pfd. 1,667 150,642 166,463 0.0 NOK Corp. 10,800 218,413 166,041 0.0 Salvatore Ferragamo SPA 6,222 175,011 164,877 0.0 Fujitsu General Ltd. 5,000 135,009 164,396 0.0 Crest Nicholson Holdings plc 22,643 162,373 162,451 0.0 888 Holdings plc 24,707 111,717 162,213 0.0 Hyundai Wia Corp. 1,445 94,410 161,274 0.0 Coreana Cosmetics Co. Ltd. 29,567 162,766 160,932 0.0 J.D. Wetherspoon plc 7,977 166,070 160,748 0.0 Metropole Television SA 6,099 154,904 158,886 0.0 Boozt AB 5,807 158,359 158,074 0.0 Modern Times Group MTG AB Class B 9,283 227,373 155,784 0.0 Kakao Games Corp. 2,445 147,511 155,395 0.0 Autobacs Seven Co. Ltd. 9,400 170,256 155,005 0.0 Melco International Development Ltd. 68,000 206,496 154,620 0.0 Toyota Boshoku Corp. 6,000 126,444 153,764 0.0 Firstgroup plc 109,453 183,382 153,346 0.0 Katitas Co. Ltd. 4,400 129,002 153,161 0.0 NagaCorp Ltd. 128,000 198,138 152,872 0.0 Webjet Ltd. 33,288 179,790 151,946 0.0 Air France-KLM 25,280 250,753 151,093 0.0 NHK Spring Co. Ltd. 14,800 162,863 150,591 0.0 Autogrill SPA 16,229 184,994 147,284 0.0 Restaurant Group plc 66,086 137,385 144,930 0.0 Hyosung Advanced Materials Corp. 299 73,621 144,826 0.0 Wacoal Holdings Corp. 5,100 165,687 143,104 0.0 Yoshinoya Holdings Co. Ltd. 6,000 145,690 142,116 0.0 Sankyo Co. Ltd. 4,400 186,474 139,269 0.0 Toei Co. Ltd. 600 121,307 138,970 0.0 Youngone Corp. 2,802 120,942 136,798 0.0 Luk Fook Holdings International Ltd. 32,000 114,638 136,748 0.0 Hanjin Kal Corp. 1,883 78,833 136,655 0.0 ALD SA 7,309 145,379 135,669 0.0 InvoCare Ltd. 12,370 150,223 133,053 0.0 Nexteer Automotive Group Ltd. 77,000 143,186 132,602 0.0 Fnac Darty SA 1,659 160,935 132,166 0.0 MGM China Holdings Ltd. 70,000 163,414 131,263 0.0 Sanoma Oyj 6,316 104,178 129,665 0.0 Shochiku Co. Ltd. 900 159,175 128,627 0.0 Resorttrust, Inc. 6,300 140,493 127,503 0.0 TI Fluid Systems plc 24,256 86,990 127,385 0.0 Cineworld Group plc 95,811 322,735 126,923 0.0 Milbon Co. Ltd. 1,800 114,317 126,117 0.0 Sun Art Retail Group Ltd. 136,500 173,033 125,805 0.0 Accell Group NV 1,879 80,524 124,997 0.0 Halfords Group plc 16,907 77,185 124,711 0.0 Fuji Kyuko Co. Ltd. 2,100 82,734 124,644 0.0 IGG, Inc. 76,000 111,340 124,336 0.0 Heiwa Corp. 5,600 137,853 122,895 0.0 Lotte Shopping Co. Ltd. 956 189,766 121,414 0.0 Com2uSCorp 881 134,510 119,833 0.0 Dalata Hotel Group plc 21,188 170,235 119,324 0.0 Musashi Seimitsu Industry Co. Ltd. 4,300 81,009 118,689 0.0 EVENT Hospitality and Entertainment Ltd. 10,094 115,202 118,613 0.0 Hornbach Holding AG & Co. KGaA 839 93,458 118,402 0.0

97 Vanguard FTSE Developed All Cap ex North America Index ETF

Description Number of Shares Cost ($) Fair Value ($) % of Net Assets Nobia AB 11,163 109,623 117,993 0.0 Hyundai Department Store Co. Ltd. 1,227 123,020 117,920 0.0 Shangri-La Asia Ltd. 96,000 154,689 116,338 0.0 Okamura Corp. 6,900 103,141 115,704 0.0 Cairn Homes plc 73,811 150,270 115,545 0.0 Mediaset SPA 25,839 105,689 115,503 0.0 Television Francaise 1 9,165 115,821 114,736 0.0 Maisons du Monde SA 3,714 131,079 113,989 0.0 Descente Ltd. 3,300 66,026 113,951 0.0 Colowide Co. Ltd. 5,100 119,233 112,719 0.0 AO World plc 26,007 93,323 112,557 0.0 Citizen Watch Co. Ltd. 24,600 147,294 112,528 0.0 Kumho Tire Co. Inc. 12,678 74,379 111,803 0.0 Mitchells & Butlers plc 23,198 125,319 110,559 0.0 Interparfums SA 1,373 69,927 110,491 0.0 Collins Foods Ltd. 10,354 85,144 110,406 0.0 Sanrio Co. Ltd. 4,900 121,619 107,479 0.0 DCM Holdings Co. Ltd. 9,000 122,151 106,236 0.0 SM Entertainment Co. Ltd. 1,643 79,590 106,229 0.0 SAS AB 348,029 112,942 105,824 0.0 Bonava AB Class B 7,719 116,845 105,228 0.0 Betsson AB Class B 10,400 101,182 105,109 0.0 JYP Entertainment Corp. 2,356 83,264 104,920 0.0 Temple & Webster Group Ltd. 10,421 105,789 104,533 0.0 Hanssem Co. Ltd. 925 112,579 104,255 0.0 SeaLink Travel Group Ltd. 11,807 65,494 104,057 0.0 Ceconomy AG 16,985 205,839 102,663 0.0 Mediaset Espana Comunicacion SA 12,986 142,275 100,880 0.0 Komeri Co. Ltd. 3,400 100,577 99,309 0.0 Duskin Co. Ltd. 3,500 113,522 98,950 0.0 EDION Corp. 8,100 104,495 98,052 0.0 Kohnan Shoji Co. Ltd. 2,300 74,743 98,024 0.0 GUD Holdings Ltd. 8,775 97,524 97,811 0.0 Cosmax, Inc. 672 85,000 96,799 0.0 Valor Holdings Co. Ltd. 3,800 102,837 95,985 0.0 Sangetsu Corp. 5,500 115,192 94,990 0.0 Noevir Holdings Co. Ltd. 1,500 106,230 94,387 0.0 Moonpig Group plc 12,791 99,775 93,825 0.0 Joyful Honda Co. Ltd. 6,200 97,640 93,660 0.0 Shoei Co. Ltd. 2,000 70,782 93,606 0.0 Kura Sushi, Inc. 1,800 67,245 93,383 0.0 Cathay Pacific Airways Ltd. 88,727 121,313 92,810 0.0 Fox Wizel Ltd. 648 89,360 91,951 0.0 HIS Co. Ltd. 3,400 90,325 91,306 0.0 Wickes Group plc 21,668 93,218 91,183 0.0 Zeal Network SE 1,471 87,430 90,511 0.0 Zinus, Inc. 796 69,012 90,153 0.0 Gestamp Automocion SA 13,735 95,810 90,079 0.0 CCC SA 2,458 135,235 89,825 0.0 Kolmar Korea Co. Ltd. 1,397 86,072 89,095 0.0 Round One Corp. 5,800 93,852 88,976 0.0 GungHo Online Entertainment, Inc. 3,590 101,002 88,557 0.0 Marston's plc 58,807 106,553 88,476 0.0 H2O Retailing Corp. 8,800 141,721 88,461 0.0 Tomy Co. Ltd. 8,300 111,303 88,157 0.0 Cafe de Coral Holdings Ltd. 34,000 101,196 86,526 0.0 Atom Corp. 10,000 106,729 86,354 0.0 Nojima Corp. 2,800 77,907 85,783 0.0 Create Restaurants Holdings, Inc. 8,400 75,071 85,471 0.0 Ichibanya Co. Ltd. 1,500 83,533 85,183 0.0 Kinepolis Group NV 1,274 99,071 85,162 0.0 Great Eagle Holdings, Ltd. 20,000 89,633 84,192 0.0 Toridoll Holdings Corp. 4,000 75,204 84,078 0.0 Paradise Co. Ltd. 4,190 86,928 83,392 0.0 NHN Corp. 895 75,327 82,076 0.0 KOMEDA Holdings Co. Ltd. 3,500 83,821 80,831 0.0 Kyoritsu Maintenance Co. Ltd. 2,000 107,253 80,776 0.0 Schaeffler AG Pfd. 7,002 92,278 79,997 0.0 KYB Corp. 1,900 90,078 79,705 0.0 Kappa Create Co. Ltd. 4,900 84,107 79,434 0.0 Hana Tour Service, Inc. 903 78,513 78,640 0.0 Sagami Holdings Corp. 6,900 85,324 78,599 0.0 Mandom Corp. 3,400 113,807 78,522 0.0 Delek Automotive Systems Ltd. 4,824 28,386 78,462 0.0

98 Vanguard FTSE Developed All Cap ex North America Index ETF

Description Number of Shares Cost ($) Fair Value ($) % of Net Assets Melia Hotels International SA 8,543 99,417 78,283 0.0 Elior Group SA 8,449 173,703 78,166 0.0 Topre Corp. 4,400 109,119 78,103 0.0 Innocean Worldwide, Inc. 1,064 80,485 77,217 0.0 G8 Education Ltd. 82,012 121,595 76,624 0.0 SkiStar AB 3,659 57,799 75,550 0.0 Royal Holdings Co. Ltd. 3,100 89,718 75,225 0.0 Go-Ahead Group plc 3,924 110,137 75,047 0.0 Ohsho Food Service Corp. 1,200 87,585 74,974 0.0 Accent Group Ltd. 28,760 47,731 74,596 0.0 Jumbo Interactive Ltd. 4,469 83,955 73,828 0.0 Tokai Rika Co. Ltd. 3,700 89,500 73,520 0.0 Gunze Ltd. 1,400 78,128 72,241 0.0 Mekonomen AB Series B 3,514 52,111 71,945 0.0 Stella International Holdings Ltd. 37,500 67,335 71,755 0.0 San-Ai Oil Co. Ltd. 5,000 67,291 71,739 0.0 Yokowo Co. Ltd. 2,500 79,683 70,790 0.0 CJ CGV Co. Ltd. 2,105 86,583 70,596 0.0 Sebang Global Battery Co. Ltd. 655 22,577 69,862 0.0 Piaggio & C. SPA 14,263 56,506 69,454 0.0 Tod's SPA 824 59,406 69,336 0.0 Roland Corp. 1,100 74,176 69,094 0.0 TBS Holdings, Inc. 3,600 90,453 68,521 0.0 Air New Zealand Ltd. 50,876 111,968 68,233 0.0 Token Corp. 600 56,819 67,945 0.0 DO & CO AG 604 67,632 67,499 0.0 oOh!media Ltd. 41,468 80,276 67,464 0.0 Nextage Co. Ltd. 3,200 53,536 67,191 0.0 Lovisa Holdings Ltd. 4,738 50,867 67,172 0.0 Hong Kong Television Network Ltd. 43,000 48,455 66,851 0.0 Monogatari Corp. 800 50,765 66,673 0.0 Tokyotokeiba Co. Ltd. 1,300 68,281 65,775 0.0 Nishimatsuya Chain Co. Ltd. 3,900 56,210 65,572 0.0 RAI Way SPA 8,781 67,209 65,506 0.0 Xiabuxiabu Catering Management China Holdings Co. Ltd. 50,000 113,038 64,898 0.0 Kathmandu Holdings Ltd. 46,259 57,473 64,442 0.0 ElringKlinger AG 2,921 57,047 64,385 0.0 MOS Food Services, Inc. 1,900 65,374 64,336 0.0 Studio Dragon Corp. 607 68,427 63,942 0.0 SL Corp. 1,621 47,762 63,633 0.0 Nippon Seiki Co. Ltd. 4,800 91,182 63,460 0.0 Zojirushi Corp. 3,400 67,709 62,818 0.0 Scandic Hotels Group AB 12,878 98,683 62,336 0.0 Seiko Holdings Corp. 2,500 73,234 61,837 0.0 Kogan.com Ltd. 5,710 105,409 61,470 0.0 Autoneum Holding AG 265 57,948 61,309 0.0 Ringer Hut Co. Ltd. 2,300 63,548 61,098 0.0 Lotte Tour Development Co. Ltd. 2,729 44,713 60,466 0.0 Stagecoach Group plc 43,016 90,353 60,414 0.0 YG Entertainment, Inc. 1,063 39,328 59,846 0.0 Beneteau SA 3,048 55,365 59,710 0.0 Saizeriya Co. Ltd. 2,000 59,912 59,466 0.0 Aeon Hokkaido Corp. 4,700 62,167 59,411 0.0 Curves Holdings Co. Ltd. 5,800 49,398 59,339 0.0 Exedy Corp. 3,200 86,300 58,158 0.0 Chofu Seisakusho Co. Ltd. 2,600 68,257 58,016 0.0 Kisoji Co. Ltd. 2,200 62,667 57,436 0.0 Prestige International, Inc. 7,300 62,483 57,256 0.0 Joshin Denki Co. Ltd. 1,900 58,964 57,023 0.0 Hiday Hidaka Corp. 2,832 62,347 56,936 0.0 City Chic Collective Ltd. 11,140 43,575 56,856 0.0 Maxell Holdings Ltd. 4,100 74,910 56,813 0.0 Plenus Co. Ltd. 2,500 57,813 56,761 0.0 Adastria Co. Ltd. 2,500 72,324 56,621 0.0 SEB SA Loyalty Bonus 249 47,332 55,726 0.0 Pou Sheng International Holdings Ltd. 189,000 57,286 55,151 0.0 AmRest Holdings SE 6,401 89,257 53,842 0.0 Infomedia Ltd. 37,315 55,714 53,249 0.0 Avex, Inc. 2,900 37,946 53,094 0.0 Asiana Airlines, Inc. 2,796 46,283 52,880 0.0 United Arrows Ltd. 2,200 80,026 52,797 0.0 Yellow Hat Ltd. 2,400 47,941 52,696 0.0 Fattal Holdings 1998 Ltd. 447 71,559 52,643 0.0 Hyundai Home Shopping Network Corp. 529 60,254 52,584 0.0

99 Vanguard FTSE Developed All Cap ex North America Index ETF

Description Number of Shares Cost ($) Fair Value ($) % of Net Assets Hyundai Greenfood Co. Ltd. 4,380 62,851 51,774 0.0 Hankook & Co. Ltd. 2,303 43,296 51,533 0.0 Belluna Co. Ltd. 4,700 55,459 51,231 0.0 GS Home Shopping, Inc. 300 48,341 51,098 0.0 Baby Bunting Group Ltd. 9,682 53,230 50,585 0.0 GLOBERIDE, Inc. 1,000 43,063 50,039 0.0 Handsome Co. Ltd. 1,043 46,819 49,258 0.0 Wemade Co. Ltd. 788 40,797 49,042 0.0 Redbubble Ltd. 14,547 81,533 48,820 0.0 Fuji Media Holdings, Inc. 3,400 56,396 46,810 0.0 Pacific Industrial Co. Ltd. 3,500 63,828 46,742 0.0 Rank Group plc 16,133 51,862 46,309 0.0 DoubleUGames Co. Ltd. 706 54,725 46,268 0.0 Clas Ohlson AB Class B 3,619 51,355 46,244 0.0 Finnair Oyj 44,771 56,029 45,733 0.0 CosmoAM&T Co. Ltd. 1,519 32,401 45,515 0.0 Nexen Tire Corp. 3,886 40,882 45,294 0.0 VT Holdings Co. Ltd. 8,800 51,144 45,261 0.0 Itochu Enex Co. Ltd. 4,100 44,082 45,240 0.0 FCC Co. Ltd. 2,500 70,559 45,130 0.0 Chow Sang Sang Holdings International Ltd. 21,000 41,012 45,004 0.0 Webzen, Inc. 1,311 33,527 44,616 0.0 Ananti, Inc. 4,084 42,843 44,189 0.0 Hornbach Baumarkt AG 811 46,767 44,125 0.0 Uchida Yoko Co. Ltd. 800 40,423 43,913 0.0 Hansae Co. Ltd. 1,628 47,990 43,769 0.0 Lotte Himart Co. Ltd. 1,110 62,940 43,695 0.0 Shinsegae International, Inc. 194 48,072 43,517 0.0 ValueCommerce Co. Ltd. 1,200 31,505 43,378 0.0 Lifestyle International Holdings Ltd. 45,500 68,420 43,241 0.0 Alpen Co. Ltd. 1,300 30,067 42,830 0.0 GOLFZON Co. Ltd. 287 24,000 42,635 0.0 Gakken Holdings Co. Ltd. 2,800 51,706 42,173 0.0 Mizuno Corp. 1,600 45,500 42,164 0.0 SNT Motiv Co. Ltd. 539 29,712 42,080 0.0 Doutor Nichires Holdings Co. Ltd. 2,200 57,993 42,070 0.0 Modetour Network, Inc. 1,427 38,611 41,346 0.0 JVCKenwood Corp. 15,600 48,414 41,249 0.0 Atresmedia Corp. de Medios de Comunicacion SA 7,608 50,019 41,248 0.0 Southern Cross Media Group Ltd. 21,123 68,324 41,042 0.0 Matsuya Co. Ltd. 3,900 44,901 40,727 0.0 China Travel International Investment Hong Kong Ltd. 197,639 58,755 40,654 0.0 Crystal International Group Ltd. 62,500 56,574 39,764 0.0 Teikoku Sen-I Co. Ltd. 1,700 50,542 39,678 0.0 TPR Co. Ltd. 2,400 53,017 39,549 0.0 Restaurant Brands New Zealand Ltd. 3,179 35,576 39,472 0.0 TV Asahi Holdings Corp. 2,000 44,751 39,294 0.0 Onward Holdings Co. Ltd. 10,400 64,695 38,987 0.0 Ichikoh Industries Ltd. 4,800 47,612 38,772 0.0 Juventus Football Club SPA 36,376 60,097 38,568 0.0 Conexio Corp. 2,300 41,397 38,491 0.0 Nissan Shatai Co. Ltd. 4,800 59,439 38,397 0.0 Seven West Media Ltd. 88,238 39,470 38,144 0.0 SG Fleet Group Ltd. 13,581 37,270 37,877 0.0 Daikyonishikawa Corp. 4,900 58,466 37,721 0.0 G-7 Holdings, Inc. 1,000 27,097 37,710 0.0 Digital Holdings, Inc. 1,500 41,988 37,638 0.0 Aoyama Trading Co. Ltd. 4,300 104,794 37,084 0.0 Direct Marketing MiX, Inc. 800 33,341 36,818 0.0 Sumitomo Riko Co. Ltd. 4,500 51,422 36,249 0.0 Apollo Future Mobility Group Ltd. 536,000 53,776 35,896 0.0 Tourism Holdings Ltd. 16,305 51,603 35,694 0.0 Matsuyafoods Holdings Co. Ltd. 900 37,307 35,395 0.0 Delta Galil Industries Ltd. 679 23,181 34,835 0.0 KFC Holdings Japan Ltd. 1,100 25,427 34,682 0.0 Riso Kyoiku Co. Ltd. 9,300 44,356 34,552 0.0 Press Kogyo Co. Ltd. 8,900 46,172 34,456 0.0 TSI Holdings Co. Ltd. 9,300 55,129 34,344 0.0 Piolax, Inc. 2,000 51,282 34,095 0.0 Pacific Textiles Holdings Ltd. 45,000 52,475 33,509 0.0 Tachi-S Co. Ltd. 2,000 35,527 33,158 0.0 Happinet Corp. 2,000 39,615 32,935 0.0 Myer Holdings Ltd. 98,805 45,762 32,608 0.0 Unipres Corp. 3,200 65,967 32,596 0.0

100 Vanguard FTSE Developed All Cap ex North America Index ETF

Description Number of Shares Cost ($) Fair Value ($) % of Net Assets Esprit Holdings Ltd. 268,750 68,424 32,569 0.0 Sa Sa International Holdings Ltd. 92,000 31,897 32,567 0.0 LF Corp. 1,450 37,996 32,446 0.0 Grand Korea Leisure Co. Ltd. 1,772 46,792 32,442 0.0 Open Door, Inc. 1,300 30,229 32,329 0.0 Sungwoo Hitech Co. Ltd. 3,988 30,447 32,099 0.0 Tosho Co. Ltd. 1,500 44,190 32,082 0.0 AMA Group Ltd. 59,516 46,911 31,814 0.0 Kanagawa Chuo Kotsu Co. Ltd. 800 41,471 31,641 0.0 Halla Holdings Corp. 581 31,774 31,368 0.0 Chuo Spring Co. Ltd. 2,100 27,542 31,208 0.0 B&S Group Sarl 2,426 44,184 30,852 0.0 Kintetsu Department Store Co. Ltd. 900 37,731 30,676 0.0 Arcland Sakamoto Co. Ltd. 1,800 28,466 30,465 0.0 Nippon Television Holdings, Inc. 2,100 45,983 30,154 0.0 CJ Hello Co. Ltd. 2,998 15,220 29,768 0.0 Sanyo Electric Railway Co. Ltd. 1,400 40,527 29,584 0.0 KeePer Technical Laboratory Co. Ltd. 900 23,586 29,119 0.0 Warabeya Nichiyo Holdings Co. Ltd. 1,200 27,104 29,012 0.0 Neowiz 1,035 25,243 28,736 0.0 Daido Metal Co. Ltd. 4,300 39,280 28,689 0.0 Promotora de Informaciones SA Class A 25,254 65,548 28,556 0.0 IDOM, Inc. 3,900 31,476 28,457 0.0 APG SGA SA 93 37,097 28,281 0.0 G-Tekt Corp. 1,600 36,168 27,651 0.0 Yondoshi Holdings, Inc. 1,300 36,992 27,485 0.0 Television Broadcasts Ltd. 23,200 70,869 27,375 0.0 Tamron Co. Ltd. 1,000 27,553 27,167 0.0 Yonex Co. Ltd. 3,400 28,565 27,122 0.0 Cuckoo Homesys Co. Ltd. 542 25,211 26,968 0.0 PAL GROUP Holdings Co. Ltd. 1,400 27,653 26,959 0.0 Kamakura Shinsho Ltd. 2,400 34,254 26,937 0.0 Macromill, Inc. 2,800 44,950 26,616 0.0 Yorozu Corp. 2,000 30,209 26,308 0.0 Kolmar Korea Holdings Co. Ltd. 752 26,996 25,137 0.0 St. Marc Holdings Co. Ltd. 1,400 28,421 24,898 0.0 Interpark Holdings Corp. 4,093 10,625 24,843 0.0 Geo Holdings Corp. 1,800 30,785 24,701 0.0 Vector, Inc. 2,300 31,650 24,660 0.0 Evolable Asia Corp. 800 19,330 24,608 0.0 AOKI Holdings, Inc. 3,300 47,199 24,521 0.0 Arcland Service Holdings Co. Ltd. 1,000 18,642 24,500 0.0 Able C&C Co. Ltd. 2,157 34,180 24,192 0.0 LEC, Inc. 1,900 32,234 23,954 0.0 Bronco Billy Co. Ltd. 900 25,251 23,848 0.0 Xebio Holdings Co. Ltd. 2,200 31,249 23,735 0.0 Kojima Co. Ltd. 2,800 21,341 23,711 0.0 Keiyo Co. Ltd. 2,700 29,862 23,647 0.0 Aisan Industry Co. Ltd. 2,400 28,650 23,590 0.0 France Bed Holdings Co. Ltd. 2,300 24,298 23,428 0.0 NS Shopping Co. Ltd. 1,514 25,908 23,307 0.0 Van de Velde NV 634 28,864 23,276 0.0 Marvelous, Inc. 2,600 27,163 22,916 0.0 Lock&Lock Co. Ltd. 1,507 29,114 22,702 0.0 Aeon Fantasy Co. Ltd. 900 29,522 22,432 0.0 Fujio Food System Co. Ltd. 1,600 31,782 22,260 0.0 Sanoh Industrial Co. Ltd. 1,700 25,589 22,248 0.0 Futaba Industrial Co. Ltd. 3,800 34,088 22,173 0.0 KT Skylife Co. Ltd. 1,862 22,926 22,010 0.0 Sankyo Seiko Co. Ltd. 3,600 24,856 21,809 0.0 Chiyoda Co. Ltd. 2,200 50,415 21,722 0.0 Youngone Holdings Co. Ltd. 407 19,055 21,616 0.0 Giordano International Ltd. 80,000 52,928 21,558 0.0 Nihon Trim Co. Ltd. 500 23,011 21,421 0.0 Arnoldo Mondadori Editore SPA 9,064 27,976 21,403 0.0 Gamevil, Inc. 500 27,244 21,222 0.0 Akebono Brake Industry Co. Ltd. 10,900 24,169 21,039 0.0 Mitsuba Corp. 2,300 23,188 21,016 0.0 Hyundai Livart Furniture Co. Ltd. 971 19,821 20,980 0.0 Amuse, Inc. 800 26,118 20,975 0.0 Taiho Kogyo Co. Ltd. 1,900 23,951 20,859 0.0 Asahi Co. Ltd. 1,300 23,741 20,784 0.0 WATAMI Co. Ltd. 2,000 26,898 20,774 0.0 Cuckoo Holdings Co. Ltd. 152 22,478 20,558 0.0

101 Vanguard FTSE Developed All Cap ex North America Index ETF

Description Number of Shares Cost ($) Fair Value ($) % of Net Assets Honeys Holdings Co. Ltd. 1,800 23,361 20,404 0.0 Media Do Holdings Co. Ltd. 400 14,440 20,328 0.0 Akatsuki, Inc. 500 32,311 19,831 0.0 Dynam Japan Holdings Co. Ltd. 16,800 32,218 19,502 0.0 S.T. Corp. 1,000 26,095 19,301 0.0 Studio Alice Co. Ltd. 700 18,978 19,275 0.0 KNT-CT Holdings Co. Ltd. 1,300 20,519 19,160 0.0 Proto Corp. 1,300 14,734 19,058 0.0 PIA Corp. 500 27,743 18,995 0.0 Central Sports Co. Ltd. 700 19,269 18,954 0.0 Kourakuen Holdings Corp. 1,100 23,834 18,912 0.0 Koshidaka Holdings Co. Ltd. 2,800 47,639 18,900 0.0 AKWEL 517 20,959 18,677 0.0 IMAX China Holding, Inc. 10,000 25,029 18,465 0.0 World Co. Ltd. 1,100 29,203 17,955 0.0 JP-Holdings, Inc. 5,900 21,340 17,707 0.0 Fujita Kanko, Inc. 700 20,330 17,416 0.0 Riken Corp. 600 30,918 17,103 0.0 PC Depot Corp. 3,200 26,884 17,066 0.0 Gurunavi, Inc. 2,700 20,789 16,447 0.0 Macau Legend Development Ltd. 99,000 19,148 16,260 0.0 SMCP SA 1,636 31,584 14,691 0.0 Digital Domain Holdings Ltd. 1,570,000 36,303 14,520 0.0 GL Events 691 22,518 14,511 0.0 Foster Electric Co. Ltd. 1,300 34,163 14,156 0.0 Daekyo Co. Ltd. 2,411 12,200 14,024 0.0 Husqvarna AB Class A 801 13,657 13,361 0.0 Best World International Ltd. 10,100 22,413 12,077 0.0 TV Tokyo Holdings Corp. 500 14,065 11,854 0.0 Woongjin Thinkbig Co. Ltd. 2,599 9,468 11,774 0.0 F&F Holdings Co. Ltd. 249 53,472 10,308 0.0 Chimney Co. Ltd. 600 17,179 9,164 0.0 Tokyo Base Co. Ltd. 1,000 10,906 7,810 0.0 S&T Dynamics Co. Ltd. 545 4,780 6,592 0.0 Wowow, Inc. 200 7,334 5,371 0.0 Tsutsumi Jewelry Co. Ltd. 200 5,156 5,092 0.0 Mars Group Holdings Corp. 200 6,192 3,630 0.0 NH Hotel Group SA 688 5,694 3,546 0.0 Daisyo Corp. 300 5,018 3,538 0.0 Tokyo Individualized Educational Institute, Inc. 500 7,568 3,447 0.0 Corona Corp. Class A 300 4,852 3,079 0.0 Artnature, Inc. 400 3,591 2,995 0.0 Sac's Bar Holdings, Inc. 400 6,151 2,780 0.0 SBS Media Holdings Co. Ltd. 1,165 4,305 2,716 0.0 Vita Group Ltd. 2,827 6,241 2,497 0.0 Rizzoli Corriere Della Sera Mediagroup SPA 2,173 3,510 2,259 0.0 Takihyo Co. Ltd. 100 2,858 2,083 0.0 Cleanup Corp. 300 3,008 1,804 0.0 Right On Co. Ltd. 200 2,307 1,549 0.0 Laox Co. Ltd. 600 4,953 1,546 0.0 APAM Corp. 816 42,822 121 0.0 321,498,851 378,924,905 15.5 Consumer Staples Nestlé SA 260,456 33,417,686 40,202,371 1.7 Unilever plc 241,022 17,510,860 17,442,530 0.7 Diageo plc 212,395 10,388,412 12,574,971 0.5 British American Tobacco plc 212,075 12,275,096 10,158,009 0.4 Anheuser-Busch InBev SA 77,770 8,312,632 6,944,824 0.3 Reckitt Benckiser Group plc 58,764 6,451,366 6,430,560 0.3 Pernod Ricard SA 19,424 4,280,897 5,339,722 0.2 Danone SA 55,694 5,391,481 4,855,675 0.2 Woolworths Group Ltd. 118,273 3,809,841 4,192,506 0.2 Koninklijke DSM NV 15,484 2,489,854 3,579,003 0.2 Koninklijke Ahold Delhaize NV 92,011 2,975,813 3,387,414 0.2 Heineken NV 22,226 2,954,025 3,335,695 0.2 Kao Corp. 42,700 3,904,707 3,256,180 0.2 Tesco plc 703,766 3,314,359 2,684,089 0.1 Japan Tobacco, Inc. 109,500 3,471,601 2,563,688 0.1 Kerry Group plc Class A 14,382 2,161,306 2,487,933 0.1 Chocoladefabriken Lindt & Spruengli AG 106 1,913,450 2,364,452 0.2 Imperial Brands plc 87,033 3,347,910 2,318,108 0.1 Essity AB Class B 56,259 2,201,435 2,311,825 0.1 Asahi Group Holdings Ltd. 38,844 2,173,792 2,249,661 0.1

102 Vanguard FTSE Developed All Cap ex North America Index ETF

Description Number of Shares Cost ($) Fair Value ($) % of Net Assets Aeon Co. Ltd. 65,000 1,831,109 2,164,710 0.1 Carlsberg A/S Class B 9,034 1,555,730 2,085,522 0.1 Coles Group Ltd. 116,697 1,610,767 1,854,057 0.1 Unicharm Corp. 36,000 1,579,604 1,795,362 0.1 Kirin Holdings Co. Ltd. 70,700 1,948,932 1,708,519 0.1 HelloFresh SE 13,934 680,487 1,677,482 0.1 Ocado Group plc 45,301 1,097,291 1,552,208 0.1 Swedish Match AB 141,928 1,014,210 1,499,763 0.1 LG Household & Health Care Ltd. 767 1,155,043 1,486,041 0.1 Ajinomoto Co. Inc. 45,400 1,158,053 1,460,808 0.1 Kikkoman Corp. 16,900 1,079,836 1,382,078 0.1 Beiersdorf AG 9,178 1,307,160 1,371,376 0.1 Carrefour SA 53,904 1,337,863 1,312,836 0.1 Mowi ASA 39,882 1,130,855 1,256,857 0.1 Heineken Holding NV 9,823 1,189,732 1,225,411 0.1 Associated British Foods plc 31,794 1,337,801 1,205,247 0.1 Kesko Oyj Class B 24,927 598,536 1,140,256 0.1 Barry Callebaut AG 330 875,049 950,477 0.1 KT&G Corp. 10,050 1,104,298 932,692 0.1 MEIJI Holdings Co. Ltd. 12,300 1,170,029 912,575 0.1 Orkla ASA 71,798 883,232 906,102 0.1 WM Morrison Supermarkets plc 205,763 717,773 868,355 0.1 WH Group Ltd. 771,402 939,340 858,565 0.1 Yakult Honsha Co. Ltd. 12,135 926,963 851,594 0.1 Coca-Cola HBC AG 18,209 732,199 814,241 0.1 Davide Campari-Milano NV 48,159 617,843 798,800 0.0 Wilmar International Ltd. 192,001 737,168 795,936 0.0 Royal Unibrew A/S 4,563 483,404 719,795 0.0 J Sainsbury plc 153,483 633,015 713,626 0.0 Treasury Wine Estates Ltd. 65,589 853,343 712,189 0.0 Endeavour Group Ltd. 118,273 718,481 691,604 0.0 Budweiser Brewing Co. APAC Ltd. 155,300 711,475 606,701 0.0 THG plc 56,072 631,615 585,109 0.0 Nissin Foods Holdings Co. Ltd. 6,500 596,669 580,157 0.0 Remy Cointreau SA 2,238 409,331 572,180 0.0 Tate & Lyle plc 42,787 500,010 540,461 0.0 Suntory Beverage & Food Ltd. 11,500 625,392 536,310 0.0 Jeronimo Martins SGPS SA 22,026 478,198 497,469 0.0 Tsuruha Holdings, Inc. 3,400 541,927 489,719 0.0 Lion Corp. 22,900 583,590 480,836 0.0 Bakkafrost P/F 4,663 366,692 477,090 0.0 AAK AB 16,194 366,097 449,732 0.0 Dino Polska SA 4,758 270,227 433,182 0.0 Nisshin Seifun Group, Inc. 23,700 558,971 429,679 0.0 NH Foods Ltd. 8,900 508,145 428,959 0.0 Tingyi Cayman Islands Holding Corp. 172,000 368,621 425,106 0.0 Want Want China Holdings Ltd. 476,000 479,931 417,452 0.0 ICA Gruppen AB 7,189 393,193 414,600 0.0 Toyo Suisan Kaisha Ltd. 8,500 456,631 405,412 0.0 Greggs plc 9,023 272,131 400,543 0.0 Ito En, Ltd. 5,400 344,818 397,028 0.0 Salmar ASA 4,769 293,851 391,995 0.0 Galenica AG 4,468 347,811 390,855 0.0 Matsumotokiyoshi Holdings Co. Ltd. 7,100 343,162 388,543 0.0 Corbion NV 5,444 267,875 385,336 0.0 Britvic plc 23,967 353,642 384,162 0.0 a2 Milk Co. Ltd. 68,307 647,319 380,626 0.0 Metcash Ltd. 101,371 293,404 376,017 0.0 Welcia Holdings Co. Ltd. 8,900 307,636 360,445 0.0 Glanbia plc 17,721 345,464 356,259 0.0 Vitasoy International Holdings Ltd. 74,000 340,445 340,420 0.0 Zur Rose Group AG 710 267,857 337,182 0.0 JDE Peet's NV 7,500 398,104 337,021 0.0 Pigeon Corp. 9,600 478,542 335,241 0.0 Axfood AB Series B 9,730 260,577 333,474 0.0 Nichirei Corp. 9,800 317,144 319,155 0.0 Cranswick plc 4,693 261,395 318,715 0.0 Colruyt SA 4,528 320,009 313,584 0.0 Sugi Holdings Co. Ltd. 3,400 268,279 307,260 0.0 Viscofan SA 3,541 287,209 305,758 0.0 CJ CheilJedang Corp. 600 229,593 304,146 0.0 Cosmos Pharmaceutical Corp. 1,600 242,490 290,971 0.0 LG Household & Health Care Ltd. Pfd. 340 274,380 286,003 0.0 Kewpie Corp. 9,600 290,463 267,015 0.0

103 Vanguard FTSE Developed All Cap ex North America Index ETF

Description Number of Shares Cost ($) Fair Value ($) % of Net Assets Lawson, Inc. 4,600 334,701 263,793 0.0 SEB SA Loyalty Bonus 1,163 228,157 260,279 0.0 Orion Corp. 1,992 255,248 259,560 0.0 Leroy Seafood Group ASA 23,342 196,796 253,533 0.0 Takara Holdings, Inc. 16,400 240,132 253,417 0.0 House Foods Group, Inc. 6,600 284,473 249,992 0.0 Coca-Cola Bottlers Japan Holdings, Inc. 12,750 441,615 246,946 0.0 Morinaga Milk Industry Co. Ltd. 3,700 191,053 239,013 0.0 Kagome Co. Ltd. 7,300 263,844 238,716 0.0 Sundrug Co. Ltd. 5,800 270,715 228,426 0.0 Emmi AG 166 175,462 211,040 0.0 Ezaki Glico Co. Ltd. 4,400 273,701 203,233 0.0 Societe BIC SA 2,297 257,182 197,666 0.0 Casino Guichard Perrachon SA 4,998 287,439 196,333 0.0 CALBEE, Inc. 6,800 266,109 194,370 0.0 Yamazaki Baking Co. Ltd. 11,000 260,405 192,188 0.0 Ain Holdings, Inc. 2,400 198,906 185,561 0.0 L'Occitane International SA 40,000 119,053 181,140 0.0 PALTAC Corp. 2,800 174,897 179,938 0.0 METRO AG 11,505 231,276 176,385 0.0 cocokara fine, Inc. 1,900 151,355 175,944 0.0 Ebro Foods SA 6,480 186,942 168,621 0.0 Morinaga & Co. Ltd. 4,000 217,479 158,427 0.0 Elders Ltd. 14,396 110,278 154,577 0.0 Scandinavian Tobacco Group A/S Class A 6,021 132,789 152,194 0.0 Aryzta AG 89,546 236,751 151,389 0.0 C&C Group plc 36,290 177,539 150,853 0.0 Shop Apotheke Europe NV 647 160,728 150,499 0.0 Bega Cheese Ltd. 27,396 149,143 150,011 0.0 Nippon Suisan Kaisha Ltd. 24,900 175,121 146,959 0.0 Kobe Bussan Co. Ltd. 3,700 72,038 144,481 0.0 Naturecell Co. Ltd. 4,334 121,671 144,160 0.0 Pilot Corp. 3,400 164,899 142,629 0.0 Suedzucker AG 7,191 150,896 142,560 0.0 Sapporo Holdings Ltd. 5,500 164,236 141,871 0.0 Uni-President China Holdings Ltd. 100,000 134,898 136,653 0.0 Kotobuki Spirits Co. Ltd. 1,700 112,422 136,181 0.0 Dairy Farm International Holdings Ltd. 25,900 220,727 135,985 0.0 Kusuri no Aoki Holdings Co. Ltd. 1,500 134,499 135,556 0.0 Yaoko Co. Ltd. 1,900 130,775 135,032 0.0 Ariake Japan Co. Ltd. 1,700 157,470 130,680 0.0 Fuji Oil Holdings, Inc. 4,200 153,995 123,848 0.0 Golden Agri-Resources Ltd. 581,800 151,961 123,272 0.0 Strauss Group Ltd. 3,532 124,579 122,479 0.0 Sakata Seed Corp. 3,000 131,160 122,168 0.0 Costa Group Holdings Ltd. 39,482 158,421 121,493 0.0 Austevoll Seafood ASA 7,719 111,387 118,631 0.0 Hite Jinro Co. Ltd. 2,861 89,919 118,601 0.0 Sligro Food Group NV 3,248 140,301 118,050 0.0 Hilton Food Group plc 6,130 110,531 114,720 0.0 Greencore Group plc 50,741 156,258 109,021 0.0 United Malt Group Ltd. 26,007 93,032 108,315 0.0 Lotte Corp. 2,356 110,866 104,143 0.0 NongShim Co. Ltd. 301 101,317 103,761 0.0 Shufersal Ltd. 10,428 93,525 102,797 0.0 Dongsuh Cos. Inc. 3,043 79,639 102,054 0.0 BGF retail Co. Ltd. 515 100,495 101,649 0.0 GrainCorp Ltd. Class A 21,015 134,873 100,809 0.0 Prima Meat Packers Ltd. 3,000 106,517 100,579 0.0 Marudai Food Co. Ltd. 5,300 109,947 100,228 0.0 Ontex Group NV 6,488 181,501 100,040 0.0 GS Retail Co. Ltd. 2,334 106,323 99,193 0.0 Ottogi Corp. 165 113,675 98,699 0.0 Sonae SGPS SA 83,285 108,464 97,843 0.0 Arcs Co. Ltd. 3,600 100,537 97,038 0.0 MARR SPA 3,244 94,458 95,753 0.0 Vinda International Holdings Ltd. 25,000 107,696 95,274 0.0 Itoham Yonekyu Holdings, Inc. 11,900 107,459 94,928 0.0 Nippn Corp. 5,400 108,403 94,528 0.0 Megmilk Snow Brand Co. Ltd. 3,800 124,305 89,625 0.0 Maruha Nichiro Corp. 3,400 112,663 89,561 0.0 CJ CheilJedang Corp. Pfd. 385 69,631 88,902 0.0 KWS Saat SE & Co. KGaA 868 81,685 88,461 0.0 Kyokuyo Co. Ltd. 2,700 90,955 87,208 0.0

104 Vanguard FTSE Developed All Cap ex North America Index ETF

Description Number of Shares Cost ($) Fair Value ($) % of Net Assets Oisix ra daichi, Inc. 1,900 61,899 86,488 0.0 Blackmores Ltd. 1,246 106,276 85,104 0.0 Valora Holding AG 323 100,525 84,204 0.0 First Pacific Co. Ltd. 196,000 97,250 82,821 0.0 Kernel Holding SA 4,530 75,970 80,599 0.0 Dongwon Industries Co. Ltd. 276 75,755 79,817 0.0 Kameda Seika Co. Ltd. 1,600 92,416 79,080 0.0 Create SD Holdings Co. Ltd. 2,100 75,158 77,317 0.0 Select Harvests Ltd. 12,302 69,440 77,197 0.0 Heiwado Co. Ltd. 3,100 88,295 76,712 0.0 Showa Sangyo Co. Ltd. 2,300 81,366 76,674 0.0 euglena Co. Ltd. 7,500 81,121 76,480 0.0 PZ Cussons plc 18,264 76,647 76,390 0.0 Olam International Ltd. 51,200 90,254 75,466 0.0 San-A Co. Ltd. 1,600 91,293 75,331 0.0 Grieg Seafood ASA 5,633 75,473 71,900 0.0 A.G. Barr plc 7,660 81,622 67,877 0.0 Life Corp. 1,700 60,638 66,858 0.0 Samyang Holdings Corp. 533 34,296 64,762 0.0 Sheng Siong Group Ltd. 43,800 54,217 63,752 0.0 Arata Corp. 1,300 60,356 62,512 0.0 Bell Food Group AG 164 70,898 62,285 0.0 Maeil Dairies Co. Ltd. 731 61,314 62,134 0.0 Nisshin Oillio Group Ltd. 1,800 77,916 61,653 0.0 Rami Levy Chain Stores Hashikma Marketing 2006 Ltd. 755 56,339 61,515 0.0 First Resources Ltd. 49,200 77,395 60,734 0.0 Kato Sangyo Co. Ltd. 1,600 70,650 60,426 0.0 Inghams Group Ltd. 16,248 60,008 60,118 0.0 United Super Markets Holdings, Inc. 4,900 59,477 59,315 0.0 Pharma Foods International Co. Ltd. 1,900 78,297 58,994 0.0 S Foods, Inc. 1,600 72,153 58,730 0.0 BWX Ltd. 11,608 51,522 58,705 0.0 Axial Retailing, Inc. 1,400 69,254 58,574 0.0 Cloetta AB Class B 15,661 64,521 57,915 0.0 Daesang Corp. 1,882 52,233 57,426 0.0 Tassal Group Ltd. 17,121 67,647 56,981 0.0 Raisio Oyj Class V 9,975 54,220 55,151 0.0 Mitsubishi Pencil Co. Ltd. 3,400 67,688 54,548 0.0 Marley Spoon AG CDI 18,416 47,719 54,101 0.0 Mitsubishi Shokuhin Co. Ltd. 1,700 59,111 53,277 0.0 Fujicco Co. Ltd. 2,500 62,013 53,274 0.0 Vilmorin & Cie SA 624 51,475 51,315 0.0 Shoei Foods Corp. 1,200 54,716 50,273 0.0 Lotte Chilsung Beverage Co. Ltd. 314 49,948 50,064 0.0 YA-MAN Ltd. 2,800 50,070 46,671 0.0 Scales Corp. Ltd. 10,725 46,039 44,451 0.0 Key Coffee, Inc. 1,900 49,778 44,219 0.0 Sigma Healthcare Ltd. 79,546 53,163 44,000 0.0 Australian Pharmaceutical Industries Ltd. 41,268 52,095 42,777 0.0 Belc Co. Ltd. 700 46,946 41,861 0.0 Yokohama Reito Co. Ltd. 4,100 47,077 40,345 0.0 Devro plc 12,137 42,885 40,029 0.0 J-Oil Mills, Inc. 1,900 44,269 39,831 0.0 Orion Holdings Corp. 2,122 60,694 39,783 0.0 Fuji Co. Ltd. 1,800 44,305 39,281 0.0 Agrana Beteiligungs AG 1,299 33,508 38,819 0.0 Hokuto Corp. 1,800 41,860 38,538 0.0 Bonduelle SCA 1,234 48,196 38,327 0.0 Norway Royal Salmon ASA 1,540 39,300 38,205 0.0 Kitanotatsujin Corp. 6,900 51,746 38,029 0.0 Daikokutenbussan Co. Ltd. 400 28,508 35,880 0.0 Binggrae Co. Ltd. 508 35,784 35,526 0.0 Bakkavor Group plc 15,673 44,822 34,640 0.0 Genky DrugStores Co. Ltd. 800 39,310 34,631 0.0 Japan Meat Co. Ltd. 1,400 36,402 34,426 0.0 Retail Partners Co., Ltd. 2,600 48,990 34,026 0.0 Australian Agricultural Co. Ltd. 26,577 27,447 33,849 0.0 DyDo Group Holdings, Inc. 600 32,711 33,404 0.0 Namyang Dairy Products Co. Ltd. 40 14,730 33,252 0.0 Harim Holdings Co. Ltd. 2,800 32,053 32,328 0.0 YAKUODO Holdings Co. Ltd. 1,200 37,913 31,730 0.0 Eurocash SA 6,159 41,156 28,467 0.0 Nissin Sugar Co. Ltd. 1,500 34,232 28,450 0.0 Starzen Co. Ltd. 1,200 33,661 28,155 0.0

105 Vanguard FTSE Developed All Cap ex North America Index ETF

Description Number of Shares Cost ($) Fair Value ($) % of Net Assets Riken Vitamin Co. Ltd. 1,600 45,732 27,776 0.0 Qol Holdings Co. Ltd. 1,600 32,148 27,669 0.0 Mitsui DM Sugar Holdings Co. Ltd. 1,300 35,158 27,079 0.0 Okuwa Co. Ltd. 2,200 35,184 26,681 0.0 Chubu Shiryo Co. Ltd. 2,100 36,244 26,382 0.0 Yukiguni Maitake Co. Ltd. 1,400 31,694 26,382 0.0 Dongwon F&B Co. Ltd. 99 25,848 24,820 0.0 Rock Field Co. Ltd. 1,500 29,394 24,701 0.0 Inageya Co. Ltd. 1,500 30,517 24,634 0.0 Nihon Chouzai Co. Ltd. 1,400 26,409 24,413 0.0 BGF Co. Ltd. 3,289 42,234 24,086 0.0 Itochu-Shokuhin Co. Ltd. 400 27,182 23,608 0.0 ForFarmers NV 3,188 31,595 23,314 0.0 Lotte Confectionery Co. Ltd. 151 26,803 22,996 0.0 Synlait Milk Ltd. 7,299 65,603 22,989 0.0 Dae Han Flour Mills Co. Ltd. 115 17,902 22,825 0.0 Nippon Beet Sugar Manufacturing Co. Ltd. 1,200 24,858 22,559 0.0 SPC Samlip Co. Ltd. 233 27,734 22,315 0.0 Maxvalu Tokai Co. Ltd. 800 19,088 22,135 0.0 Aekyung Industrial Co. Ltd. 725 29,115 21,923 0.0 Fujiya Co. Ltd. 900 27,141 21,468 0.0 Rokko Butter Co. Ltd. 1,200 30,251 20,805 0.0 CJ Freshway Corp. 552 22,173 20,698 0.0 Cawachi Ltd. 800 27,865 20,029 0.0 Feed One Co. Ltd. 2,320 29,409 18,999 0.0 Halows Co. Ltd. 600 28,910 18,382 0.0 Toho Co. Ltd. 1,000 24,503 17,806 0.0 Kenko Mayonnaise Co. Ltd. 1,000 34,316 17,739 0.0 Furukawa Battery Co. Ltd. 1,000 21,040 17,717 0.0 Kansai Super Market Ltd. 1,600 26,336 17,512 0.0 Lotte Food Co. Ltd. 28 11,993 14,563 0.0 Distribuidora Internacional de Alimentacion SA 145,921 33,626 14,550 0.0 Samyang Corp. 206 8,005 14,316 0.0 Nagatanien Holdings Co. Ltd. 500 17,791 11,916 0.0 Ministop Co. Ltd. 300 8,138 4,739 0.0 Muhak Co. Ltd. 299 7,228 3,008 0.0 Bumitama Agri Ltd. 6,800 4,866 2,850 0.0 Olam International Ltd. Rights Exp. 07/19/2021 7,680 0 2,476 0.0 199,942,746 209,460,309 8.6 Energy TotalEnergies SE 225,108 14,681,658 12,612,946 0.5 BP plc 1,853,580 13,499,675 9,988,102 0.4 Royal Dutch Shell plc Class A 382,203 12,710,772 9,459,402 0.4 Royal Dutch Shell plc Class B 343,352 11,538,188 8,217,097 0.4 Vestas Wind Systems A/S 93,430 2,904,743 4,516,666 0.2 Eni SPA 232,026 4,330,695 3,499,301 0.2 Neste Oyj 38,437 1,900,850 2,914,808 0.1 Equinor ASA 92,787 2,374,963 2,432,499 0.1 Repsol SA 124,097 2,230,073 1,923,324 0.1 Woodside Petroleum Ltd. 89,294 2,382,299 1,843,708 0.1 SK Innovation Co. Ltd. 4,994 1,101,563 1,622,690 0.1 Snam SPA 210,382 1,393,510 1,506,112 0.1 ENEOS Holdings, Inc. 288,150 1,783,000 1,494,584 0.1 Siemens Energy AG 35,165 1,289,504 1,312,684 0.1 Santos Ltd. 165,275 1,036,717 1,089,368 0.1 OMV AG 13,194 829,065 929,438 0.1 APA Group 107,793 1,004,196 891,871 0.1 Osaka Gas Co. Ltd. 36,800 907,237 849,474 0.1 Siemens Gamesa Renewable Energy SA 20,321 564,216 840,334 0.1 Inpex Corp. 83,500 936,825 772,295 0.0 Lundin Petroleum AB 17,233 621,832 755,557 0.0 Polski Koncern Naftowy Orlen SA 29,410 864,326 734,490 0.0 Oil Search Ltd. 195,526 905,717 692,550 0.0 Enagas SA 23,367 762,200 668,617 0.0 Keppel Corp. Ltd. 131,100 770,425 660,620 0.0 Idemitsu Kosan Co. Ltd. 21,206 803,512 634,777 0.0 Galp Energia SGPS SA Class B 47,002 869,686 631,694 0.0 Tenaris SA 42,194 596,906 569,554 0.0 Ampol Ltd. 21,683 603,234 568,648 0.0 TechnipFMC plc 43,156 1,122,958 479,366 0.0 S-Oil Corp. 3,720 386,901 419,273 0.0 Aker BP ASA 9,897 313,831 390,798 0.0 NEL ASA 125,229 246,780 361,854 0.0

106 Vanguard FTSE Developed All Cap ex North America Index ETF

Description Number of Shares Cost ($) Fair Value ($) % of Net Assets Scatec ASA 10,505 246,023 344,664 0.0 Polskie Gornictwo Naftowe i Gazownictwo SA 154,962 300,174 336,298 0.0 SBM Offshore NV 14,517 329,112 273,193 0.0 Subsea 7 SA 21,417 278,889 254,753 0.0 Washington H Soul Pattinson & Co. Ltd. 8,111 180,358 254,338 0.0 Gaztransport Et Technigaz SA 2,289 230,025 228,911 0.0 John Wood Group plc 60,349 461,792 226,810 0.0 Nordex SE 6,751 150,331 203,036 0.0 Technip Energies NV 11,241 201,626 190,826 0.0 Beach Energy Ltd. 156,655 246,819 180,587 0.0 Cosmo Energy Holdings Co. Ltd. 6,100 156,147 173,341 0.0 TGS ASA 10,969 296,485 173,235 0.0 CS Wind Corp. 1,886 146,123 160,721 0.0 Grupa Lotos SA 9,168 219,194 160,137 0.0 Saipem SPA 52,992 230,200 158,828 0.0 Tullow Oil plc 137,501 321,346 139,859 0.0 Whitehaven Coal Ltd. 77,517 184,811 139,804 0.0 Viva Energy Group Ltd. 76,866 157,788 137,915 0.0 Energean plc 10,746 104,136 131,252 0.0 Paz Oil Co. Ltd. 822 143,501 125,014 0.0 United Energy Group Ltd. 694,000 144,780 123,941 0.0 VERBIO Vereinigte BioEnergie AG 1,942 99,663 121,830 0.0 Maersk Drilling A/S 2,069 123,724 107,049 0.0 Cairn Energy plc 41,626 152,435 103,749 0.0 Z Energy Ltd. 38,513 157,032 91,307 0.0 eRex Co. Ltd. 2,900 52,189 87,423 0.0 HLB Life Science Co. Ltd. 7,772 113,989 85,460 0.0 Imdex Ltd. 37,880 62,941 71,839 0.0 Japan Petroleum Exploration Co. Ltd. 3,100 77,669 69,069 0.0 CGG SA 60,396 161,638 66,572 0.0 DNO ASA 42,483 80,995 61,378 0.0 Coronado Global Resources, Inc. CDI 76,304 101,438 59,587 0.0 Karoon Energy Ltd. 47,503 45,295 58,735 0.0 Schoeller-Bleckmann Oilfield Equipment AG 1,107 62,575 57,629 0.0 Senex Energy Ltd. 16,794 47,002 53,551 0.0 Delek Group Ltd. 644 78,625 53,474 0.0 Hankook Shell Oil Co. Ltd. 167 53,051 52,702 0.0 Equital Ltd. 1,497 37,305 50,290 0.0 Saras SPA 47,167 93,669 48,832 0.0 Tecnicas Reunidas SA 3,086 93,883 48,354 0.0 Jastrzebska Spolka Weglowa SA 4,212 68,305 48,253 0.0 SMA Solar Technology AG 669 35,150 47,530 0.0 Hunting plc 11,480 85,803 43,302 0.0 New Hope Corp. Ltd. 24,102 57,833 38,763 0.0 Petrofac Ltd. 20,185 169,677 38,051 0.0 Modec, Inc. 1,600 47,111 36,737 0.0 Oil Refineries Ltd. 107,787 69,900 34,408 0.0 BW Offshore Ltd. 7,711 56,596 34,154 0.0 Carnarvon Petroleum Ltd. 145,689 45,148 33,860 0.0 Cooper Energy Ltd. 134,276 51,708 32,456 0.0 gremz, Inc. 1,200 27,855 25,719 0.0 Naphtha Israel Petroleum Corp. Ltd. 3,941 26,453 22,735 0.0 CropEnergies AG 1,401 28,990 22,261 0.0 Toyo Kanetsu KK 800 26,327 21,957 0.0 Kamei Corp. 1,700 27,862 21,300 0.0 Toa Oil Co. Ltd. 700 22,283 21,126 0.0 BW Energy Ltd. 5,457 21,418 20,574 0.0 Nippon Coke & Engineering Co. Ltd. 17,700 23,591 20,143 0.0 K&O Energy Group, Inc. 1,300 24,958 19,160 0.0 Etablissements Maurel et Prom SA 6,111 16,920 17,051 0.0 Noble Group Holdings Ltd. 1,986 17,297 1,482 0.0 NewOcean Energy Holdings Ltd. 20,000 7,147 1,435 0.0 Agritrade Resources Ltd. 70,000 20,233 926 0.0 Liquefied Natural Gas Ltd. 10,208 5,653 408 0.0 Brightoil Petroleum Holdings Ltd. 2,359 804 75 0.0 Ezion Holdings Ltd. Warrants Exp. 04/16/2023 8,097 0 0 0.0 95,677,857 82,354,660 3.4 Financials AIA Group Ltd. 1,126,600 14,276,069 17,335,403 0.7 Commonwealth Bank of Australia 164,799 12,461,190 15,300,687 0.6 HSBC Holdings plc 1,895,459 18,299,649 13,530,812 0.6 Allianz SE 37,810 11,020,287 11,676,700 0.5 Hong Kong Exchanges & Clearing Ltd. 118,300 5,992,182 8,730,015 0.4

107 Vanguard FTSE Developed All Cap ex North America Index ETF

Description Number of Shares Cost ($) Fair Value ($) % of Net Assets Westpac Banking Corp. 340,538 8,541,830 8,170,994 0.3 BNP Paribas SA 100,497 7,517,319 7,802,550 0.3 Mitsubishi UFJ Financial Group, Inc. 1,148,200 8,062,046 7,687,466 0.3 Banco Santander SA 1,590,265 9,088,164 7,518,515 0.3 National Australia Bank Ltd. 305,684 7,369,898 7,451,209 0.3 Australia & New Zealand Banking Group Ltd. 264,588 6,655,313 6,924,204 0.3 Zurich Insurance Group AG 13,783 6,346,377 6,853,953 0.3 ING Groep NV 363,409 5,802,528 5,945,043 0.3 UBS Group AG 306,634 5,706,481 5,816,651 0.3 Prudential plc 242,708 6,270,723 5,702,612 0.2 AXA SA 178,943 5,934,882 5,619,506 0.2 Intesa Sanpaolo SPA 1,540,887 5,230,143 5,271,178 0.2 Lloyds Banking Group plc 6,587,144 6,062,065 5,261,167 0.2 Sumitomo Mitsui Financial Group, Inc. 120,400 5,566,246 5,144,786 0.2 Banco Bilbao Vizcaya Argentaria SA 620,341 4,779,485 4,762,557 0.2 Investor AB Class B 165,217 3,068,301 4,718,699 0.2 DBS Group Holdings Ltd. 168,800 4,005,638 4,635,498 0.2 Barclays plc 1,576,972 4,573,857 4,616,213 0.2 London Stock Exchange Group plc 33,752 3,652,050 4,601,707 0.2 Nordea Bank Abp 329,860 3,964,776 4,552,388 0.2 Macquarie Group Ltd. 30,510 3,616,720 4,436,940 0.2 Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen 13,013 4,281,665 4,413,362 0.2 Mizuho Financial Group, Inc. 235,530 4,733,816 4,171,594 0.2 Partners Group Holding AG 2,112 2,631,141 3,965,304 0.2 Deutsche Boerse AG 17,099 3,175,846 3,696,176 0.2 Oversea-Chinese Banking Corp. Ltd. 322,100 3,368,776 3,545,852 0.2 Tokio Marine Holdings, Inc. 59,600 3,700,451 3,396,559 0.2 Deutsche Bank AG 191,179 2,821,825 3,084,281 0.1 Swiss Re AG 26,701 3,282,826 2,986,066 0.1 UniCredit SPA 202,587 3,546,387 2,960,117 0.1 Assicurazioni Generali SPA 119,085 2,817,021 2,956,286 0.1 Credit Suisse Group AG 222,810 3,807,814 2,892,927 0.1 United Overseas Bank Ltd. 118,800 2,787,873 2,825,756 0.1 Sampo Oyj Class A 46,766 2,734,286 2,661,878 0.1 Societe Generale SA 72,585 2,999,712 2,649,855 0.1 DNB ASA 94,946 2,232,936 2,563,152 0.1 Aviva plc 360,990 2,583,858 2,506,544 0.1 Legal & General Group plc 555,481 2,497,004 2,447,801 0.1 KBC Group NV 25,382 2,371,592 2,396,685 0.1 ORIX Corp. 112,600 2,295,718 2,354,864 0.1 Dai-ichi Life Holdings, Inc. 99,700 2,165,171 2,262,498 0.1 Swedbank AB Class A 93,869 2,280,588 2,164,337 0.1 Skandinaviska Enskilda Banken AB Class A 129,772 1,801,058 2,077,257 0.1 KB Financial Group, Inc. 31,811 1,753,242 1,951,826 0.1 Credit Agricole SA 108,004 1,852,496 1,873,747 0.1 Standard Chartered plc 236,288 2,452,334 1,863,390 0.1 Shinhan Financial Group Co. Ltd. 40,015 1,879,793 1,786,399 0.1 Nomura Holdings, Inc. 281,000 1,834,207 1,780,097 0.1 3i Group plc 88,545 1,521,338 1,776,737 0.1 Swiss Life Holding AG 2,939 1,599,140 1,770,171 0.1 Svenska Handelsbanken AB Class A 122,139 1,775,240 1,707,663 0.1 Natwest Group plc 491,251 1,785,653 1,707,608 0.1 Hang Seng Bank Ltd. 67,000 1,833,343 1,657,004 0.1 Julius Baer Group Ltd. 20,087 1,359,301 1,624,791 0.1 NN Group NV 27,512 1,470,719 1,607,167 0.1 MS&AD Insurance Group Holdings, Inc. 44,100 1,763,585 1,578,392 0.1 CaixaBank SA 408,534 1,726,380 1,556,225 0.1 Investor AB Class A 52,584 938,826 1,487,365 0.1 Japan Exchange Group, Inc. 51,000 1,261,453 1,405,430 0.1 Sompo Holdings, Inc. 30,500 1,497,869 1,397,207 0.1 BOC Hong Kong Holdings Ltd. 331,500 1,625,384 1,392,839 0.1 QBE Insurance Group Ltd. 137,429 1,392,297 1,378,546 0.1 Danske Bank A/S 63,177 1,794,941 1,376,739 0.1 Hana Financial Group, Inc. 26,679 1,181,257 1,350,917 0.1 Groupe Bruxelles Lambert SA 9,736 1,230,668 1,348,809 0.1 Sumitomo Mitsui Trust Holdings, Inc. 33,900 1,566,344 1,334,352 0.1 ASX Ltd. 17,643 1,143,299 1,274,590 0.1 FinecoBank Banca Fineco SPA 58,770 950,156 1,268,666 0.1 Bank Leumi Le-Israel BM 133,779 1,089,294 1,258,771 0.1 Japan Post Holdings Co. Ltd. 123,418 1,570,814 1,253,444 0.1 St. James's Place plc 49,157 947,281 1,242,015 0.1 Suncorp Group Ltd. 119,367 1,408,473 1,232,877 0.1 Erste Group Bank AG 26,431 1,228,560 1,200,903 0.1 Hannover Rueck SE 5,655 1,134,865 1,171,747 0.1

108 Vanguard FTSE Developed All Cap ex North America Index ETF

Description Number of Shares Cost ($) Fair Value ($) % of Net Assets Ageas 16,489 1,094,344 1,133,220 0.1 Bank Hapoalim BM 110,149 1,027,977 1,095,031 0.1 Insurance Australia Group Ltd. 224,775 1,382,248 1,078,249 0.1 Industrivarden AB Class A 22,035 787,825 1,061,810 0.1 Admiral Group plc 19,539 789,498 1,050,863 0.1 Euronext NV 7,765 762,864 1,045,647 0.1 Kinnevik AB Class B 20,619 889,287 1,022,835 0.1 Resona Holdings, Inc. 210,104 1,217,541 1,001,400 0.1 Mediobanca Banca di Credito Finanziario SPA 68,665 944,937 993,221 0.1 EQT AB 21,286 505,952 957,296 0.1 Powszechna Kasa Oszczednosci Bank Polski SA 77,776 987,995 957,029 0.1 Daiwa Securities Group, Inc. 139,000 953,453 946,145 0.1 EXOR NV 9,499 810,844 942,414 0.1 Hargreaves Lansdown plc 34,441 989,649 936,183 0.1 M&G plc 238,173 861,725 932,609 0.1 Intermediate Capital Group plc 25,308 586,437 919,546 0.1 Standard Life Aberdeen plc 197,204 1,116,651 914,210 0.1 Commerzbank AG 97,091 1,015,150 852,903 0.1 Tr yg A/S 27,938 850,164 849,367 0.1 Aegon NV 165,155 1,005,065 848,613 0.0 Computershare Ltd. 52,129 764,603 819,007 0.0 Baloise Holding AG 4,185 869,531 809,005 0.0 Singapore Exchange Ltd. 77,200 637,361 795,099 0.0 T&D Holdings, Inc. 48,700 821,582 780,235 0.0 Nihon M&A Center, Inc. 24,100 544,484 774,644 0.0 Sofina SA 1,415 433,846 755,950 0.0 Medibank Pvt Ltd. 251,048 718,249 737,505 0.0 Poste Italiane SPA 42,118 538,983 689,631 0.0 Samsung Fire & Marine Insurance Co. Ltd. 2,785 757,175 675,248 0.0 Phoenix Group Holdings plc 57,208 647,227 661,944 0.0 Direct Line Insurance Group plc 132,767 724,305 647,286 0.0 SBI Holdings, Inc. 21,800 632,904 639,181 0.0 Magellan Financial Group Ltd. 12,671 507,937 634,452 0.0 Israel Discount Bank Ltd. Class A 104,968 481,266 619,094 0.0 Schroders plc 10,279 565,337 617,718 0.0 Powszechny Zaklad Ubezpieczen SA 51,348 645,035 612,961 0.0 ASR Nederland NV 12,442 591,507 595,455 0.0 SCOR SE 14,943 732,807 588,533 0.0 Woori Financial Group, Inc. 46,168 675,627 581,268 0.0 Bank of Ireland Group plc 86,881 656,576 576,301 0.0 ABN AMRO Bank NV CVA 37,893 969,526 567,143 0.0 Amundi SA 5,149 491,227 562,183 0.0 Investment AB Latour Class B 13,704 330,193 557,179 0.0 Banco BPM SPA 138,264 464,832 550,850 0.0 Industrivarden AB Class C 12,026 361,408 545,373 0.0 Bank of Queensland Ltd. 60,597 486,539 513,205 0.0 Samsung Life Insurance Co. Ltd. 5,808 578,155 509,635 0.0 Bendigo & Adelaide Bank Ltd. 49,594 470,240 483,644 0.0 Concordia Financial Group Ltd. 106,224 593,036 482,346 0.0 IG Group Holdings plc 33,176 411,210 480,694 0.0 Storebrand ASA Class A 42,746 425,480 479,794 0.0 Mizrahi Tefahot Bank Ltd. 12,391 364,753 472,768 0.0 Ackermans & van Haaren NV 2,092 420,569 437,468 0.0 Hiscox Ltd. 30,717 608,580 436,973 0.0 Banco de Sabadell SA ADR 515,521 786,726 434,694 0.0 Shizuoka Bank Ltd. 44,900 456,893 430,310 0.0 Avanza Bank Holding AB 11,105 226,260 429,158 0.0 Bank Polska Kasa Opieki SA 14,185 442,189 429,097 0.0 Helvetia Holding AG 3,153 482,984 420,278 0.0 HomeServe plc 25,439 443,565 415,807 0.0 Wendel SA 2,476 401,499 412,323 0.0 Chiba Bank Ltd. 55,100 441,779 411,263 0.0 Gjensidige Forsikring ASA 14,989 376,965 409,387 0.0 Man Group plc 132,240 339,464 407,076 0.0 Bankinter SA 63,141 579,562 393,051 0.0 Tokyo Century Corp. 5,900 415,531 392,978 0.0 Quilter plc 154,318 382,529 392,676 0.0 Korea Investment Holdings Co. Ltd. 3,444 300,357 390,059 0.0 Mitsubishi HC Capital, Inc. 58,660 424,315 389,405 0.0 Bank of Kyoto Ltd. 6,900 398,542 387,991 0.0 Virgin Money UK plc 113,740 412,397 386,317 0.0 Japan Post Bank Co. Ltd. 37,100 500,928 386,187 0.0 Japan Post Insurance Co. Ltd. 16,677 433,966 382,173 0.0 Cembra Money Bank AG 2,674 348,816 371,475 0.0

109 Vanguard FTSE Developed All Cap ex North America Index ETF

Description Number of Shares Cost ($) Fair Value ($) % of Net Assets Close Brothers Group plc 13,916 343,879 360,652 0.0 BAWAG Group AG 5,319 321,050 350,556 0.0 Azimut Holding SPA 11,655 302,140 350,523 0.0 Ringkjoebing Landbobank A/S 2,647 252,100 332,454 0.0 Raiffeisen International Bank-Holding AG 11,793 343,479 330,774 0.0 AMP Ltd. 313,284 783,776 327,651 0.0 Fukuoka Financial Group, Inc. 15,135 395,662 327,418 0.0 Jyske Bank A/S 5,451 313,247 326,597 0.0 Steadfast Group Ltd. 78,036 251,132 319,205 0.0 John Laing Group plc 45,462 250,570 310,923 0.0 Challenger Ltd. 61,754 480,683 310,587 0.0 Banca Mediolanum SPA 25,630 276,673 308,779 0.0 Beazley plc 53,826 419,145 306,065 0.0 Infratil Ltd. 45,907 206,373 305,856 0.0 Investec plc 60,964 429,120 300,662 0.0 Aozora Bank Ltd. 10,800 389,155 299,428 0.0 Nordnet AB (publ) 14,309 323,667 299,280 0.0 Unipol Gruppo SPA 43,667 286,701 294,462 0.0 Vontobel Holding AG 3,035 272,512 293,146 0.0 Banca Generali SPA 5,530 224,398 292,187 0.0 Svenska Handelsbanken AB Class B 19,520 315,661 289,421 0.0 CNP Assurances 13,651 356,353 287,667 0.0 Intrum AB 7,046 274,225 285,763 0.0 KB Financial Group, Inc. ADR 4,676 240,602 285,461 0.0 Banque Cantonale Vaudoise 2,541 277,105 282,875 0.0 Samsung Securities Co. Ltd. 5,708 242,159 282,126 0.0 Bank of East Asia Ltd. 120,600 438,705 277,300 0.0 OSB Group plc 34,755 246,777 275,865 0.0 Ashmore Group plc 41,732 283,957 274,847 0.0 Mirae Asset Securities Co. Ltd. 26,483 260,483 274,605 0.0 Bure Equity AB 5,077 155,732 271,847 0.0 Shinhan Financial Group Co. Ltd. ADR 6,100 271,478 270,798 0.0 SpareBank 1 SR-Bank ASA 16,359 226,952 267,659 0.0 Industrial Bank of Korea 22,566 311,007 260,539 0.0 NIB Holdings Ltd. 43,030 236,891 260,420 0.0 BPER Banca 95,260 320,566 256,767 0.0 Mapfre SA 97,650 331,039 255,609 0.0 Shinsei Bank Ltd. 15,646 299,896 254,334 0.0 Mebuki Financial Group, Inc. 96,400 350,000 251,672 0.0 Talanx AG 4,936 257,449 249,929 0.0 Topdanmark A/S 3,834 217,655 247,128 0.0 Pendal Group Ltd. 32,854 249,431 246,175 0.0 Zenkoku Hosho Co. Ltd. 4,600 247,324 245,060 0.0 DB Insurance Co. Ltd. 4,036 257,181 243,199 0.0 Grupo Catalana Occidente, SA 5,047 260,735 241,245 0.0 Hypoport AG 375 174,479 240,100 0.0 Lancashire Holdings Ltd. 22,778 260,967 238,662 0.0 TP ICAP Group plc 70,659 339,260 236,185 0.0 IOOF Holdings Ltd. 59,292 283,320 235,367 0.0 IntegraFin Holdings plc 26,353 199,056 232,166 0.0 BNK Financial Group, Inc. 26,252 251,125 223,137 0.0 AIB Group plc 69,748 361,676 222,570 0.0 Banca Popolare di Sondrio SCPA 41,176 174,560 221,188 0.0 Eurazeo SE Loyalty Bonus 2,034 185,404 219,539 0.0 Santander Bank Polska SA 2,611 275,038 216,056 0.0 IRESS Ltd. 17,553 185,867 210,668 0.0 Eurazeo SE 1,938 182,052 209,178 0.0 SpareBank 1 SMN 12,084 154,131 207,277 0.0 Aker ASA Class A 2,264 178,906 206,878 0.0 BFF Bank SPA 16,586 136,448 205,813 0.0 Sydbank A/S 5,367 189,733 204,661 0.0 Norwegian Finans Holding ASA 14,651 185,406 204,400 0.0 Paragon Banking Group plc 23,257 167,190 202,702 0.0 Premier Investments Ltd. 7,566 140,522 200,814 0.0 JAFCO Group Co. Ltd. 2,600 153,952 200,444 0.0 Plus500 Ltd. 8,587 143,221 196,103 0.0 KBC Ancora 3,700 220,953 195,496 0.0 AJ Bell plc 26,280 179,217 195,019 0.0 DWS Group GmbH & Co. KGaA 3,456 155,945 193,972 0.0 Sanne Group plc 13,541 152,609 192,724 0.0 Jupiter Fund Management plc 39,742 233,695 191,717 0.0 Perpetual Ltd. 5,126 168,875 190,855 0.0 First International Bank of Israel Ltd. 4,776 159,391 189,484 0.0 Acom Co. Ltd. 33,900 180,335 183,057 0.0

110 Vanguard FTSE Developed All Cap ex North America Index ETF

Description Number of Shares Cost ($) Fair Value ($) % of Net Assets Intertrust NV 8,200 195,567 182,793 0.0 Valiant Holding AG 1,480 202,745 181,811 0.0 IP Group plc 91,084 193,403 181,366 0.0 Hirogin Holdings, Inc. 27,000 214,690 176,223 0.0 Kyushu Financial Group, Inc. 39,300 229,966 171,878 0.0 Rathbone Brothers plc 5,304 183,890 164,408 0.0 Mizuho Leasing Co. Ltd. 3,900 141,941 162,952 0.0 Hachijuni Bank Ltd. 40,500 230,445 161,763 0.0 Seven Bank Ltd. 60,900 219,016 160,351 0.0 Aareal Bank AG 5,582 235,202 159,599 0.0 NH Investment & Securities Co. Ltd. 11,113 157,153 157,634 0.0 Just Group plc 98,146 158,466 156,393 0.0 Hyundai Marine & Fire Insurance Co. Ltd. 5,509 181,406 154,469 0.0 Linea Directa Aseguradora SA Cia de Seguros y Reaseguros 59,457 146,345 154,281 0.0 JB Financial Group Co. Ltd. 18,543 125,458 153,534 0.0 Iyo Bank Ltd. 25,100 192,288 152,900 0.0 KIWOOM Securities Co. Ltd. 1,055 115,503 151,968 0.0 St. Galler Kantonalbank AG 274 163,720 150,863 0.0 Anima Holding SPA 24,313 166,099 149,634 0.0 Swissquote Group Holding SA 795 66,574 148,889 0.0 Gunma Bank Ltd. 38,100 211,736 148,777 0.0 Credit Corp Group Ltd. 5,361 126,354 148,171 0.0 AEON Financial Service Co. Ltd. 10,100 216,118 147,504 0.0 UnipolSai Assicurazioni SPA 41,017 134,318 147,452 0.0 Brewin Dolphin Holdings plc 24,778 131,032 147,293 0.0 Chugoku Bank Ltd. 15,300 210,276 144,071 0.0 Coface SA 9,549 129,609 143,312 0.0 Banco Comercial Portugues SA Class R 721,584 221,922 143,052 0.0 Yamaguchi Financial Group, Inc. 20,100 222,898 142,176 0.0 Deutsche Pfandbriefbank AG 11,577 192,653 141,753 0.0 Kinnevik AB Class A 2,523 169,049 141,596 0.0 Fuyo General Lease Co. Ltd. 1,800 154,268 140,978 0.0 DGB Financial Group, Inc. 13,689 99,874 139,986 0.0 Meritz Securities Co. Ltd. 26,549 135,447 138,229 0.0 Harel Insurance Investments & Financial Services Ltd. 11,207 120,038 137,563 0.0 Monex Group, Inc. 16,300 80,575 136,029 0.0 KRUK SA 1,620 103,912 132,366 0.0 Korean Reinsurance Co. 12,151 130,455 131,607 0.0 Tamburi Investment Partners SPA 10,827 112,900 131,489 0.0 AUB Group Ltd. 6,310 91,704 131,342 0.0 Gimv NV 1,638 125,480 129,892 0.0 Ratos AB Class B 17,249 88,067 129,623 0.0 Netwealth Group Ltd. 8,113 84,264 129,350 0.0 VZ Holding AG 1,222 101,788 128,344 0.0 Rothschild & Co. 2,661 117,864 127,977 0.0 Flow Traders 2,382 101,796 126,906 0.0 Mirae Asset Securities Co. Ltd. Pfd. 23,811 115,919 124,889 0.0 Grenke AG 2,275 250,241 123,611 0.0 Meritz Fire & Marine Insurance Co. Ltd. 5,497 118,391 123,306 0.0 mBank SA 1,165 138,102 123,155 0.0 Phoenix Holdings Ltd. 10,417 84,059 120,621 0.0 HUB24 Ltd. 4,536 76,334 120,224 0.0 Platinum Asset Management Ltd. 26,223 115,535 119,698 0.0 Aiful Corp. 26,500 93,140 113,237 0.0 Sbanken ASA 7,326 96,224 113,013 0.0 Clal Insurance Enterprises Holdings Ltd. 4,547 85,444 111,799 0.0 Societa Cattolica di Assicurazione SPA 10,799 107,756 111,088 0.0 Vienna Insurance Group AG Wiener Versicherung Gruppe 3,267 114,632 111,064 0.0 Samsung Card Co. Ltd. 2,901 110,891 109,414 0.0 Hanwha Life Insurance Co. Ltd. 26,479 122,828 109,330 0.0 Ogaki Kyoritsu Bank Ltd. 5,200 134,749 107,561 0.0 Centuria Capital Group 41,373 72,377 106,926 0.0 Shiga Bank Ltd. 4,900 144,308 106,166 0.0 Ninety One plc 27,935 83,376 105,227 0.0 Hokuhoku Financial Group, Inc. 11,600 179,128 104,959 0.0 Skandinaviska Enskilda Banken AB Class C 6,607 91,521 104,467 0.0 Daishi Hokuetsu Financial Group, Inc. 3,850 157,158 103,648 0.0 UNIQA Insurance Group AG 9,585 113,369 103,315 0.0 VNV Global AB 7,398 110,822 102,138 0.0 Provident Financial plc 25,492 245,088 101,170 0.0 Spar Nord Bank A/S 7,221 89,813 100,675 0.0 Pinnacle Investment Management Group Ltd. 8,777 80,752 97,670 0.0 Alior Bank SA 8,899 130,701 96,476 0.0 77 Bank Ltd. 7,000 160,628 95,123 0.0

111 Vanguard FTSE Developed All Cap ex North America Index ETF

Description Number of Shares Cost ($) Fair Value ($) % of Net Assets Unicaja Banco SA 74,491 105,655 94,622 0.0 Samsung Fire & Marine Insurance Co. Ltd. Pfd. 515 93,939 93,721 0.0 Bank Millennium SA 61,543 134,579 93,284 0.0 Kiyo Bank Ltd. 5,800 113,913 92,988 0.0 Gruppo MutuiOnline SPA 1,538 95,546 90,794 0.0 Nishi-Nippon Financial Holdings, Inc. 12,700 150,580 89,549 0.0 Peugeot Invest 529 76,831 88,093 0.0 Australian Ethical Investment Ltd. 11,142 77,121 87,423 0.0 Tokai Tokyo Financial Holdings, Inc. 19,800 92,497 87,037 0.0 Omni Bridgeway Ltd. 24,381 77,303 84,997 0.0 Daishin Securities Co. Ltd. Pfd. 4,491 54,295 84,938 0.0 Resurs Holding AB 13,812 107,901 84,556 0.0 Haitong International Securities Group Ltd. 244,000 109,603 83,261 0.0 EML Payments Ltd. 25,507 96,455 82,520 0.0 San-In Godo Bank Ltd. 13,700 115,757 82,386 0.0 Orient Corp. 50,000 92,846 81,445 0.0 Juroku Bank Ltd. 3,700 100,602 80,744 0.0 Matsui Securities Co. Ltd. 8,700 99,517 78,622 0.0 eGuarantee, Inc. 3,000 60,320 78,622 0.0 Anicom Holdings, Inc. 7,800 94,720 77,364 0.0 Tinexta SPA 1,561 51,208 75,234 0.0 EFG International AG 7,385 69,364 75,090 0.0 doValue SPA 5,483 91,871 74,721 0.0 Leonteq AG 998 62,195 73,934 0.0 Genworth Mortgage Insurance Australia Ltd. 36,049 99,684 73,729 0.0 Japan Securities Finance Co. Ltd. 8,100 56,187 73,291 0.0 TBC Bank Group plc 3,691 87,055 73,243 0.0 M&A Capital Partners Co. Ltd. 1,200 59,030 72,564 0.0 Bank of Georgia Group plc 3,142 90,895 72,238 0.0 CMC Markets plc 8,858 27,206 69,704 0.0 JACCS Co. Ltd. 2,400 66,943 69,619 0.0 Okasan Securities Group, Inc. 14,800 80,331 68,691 0.0 Deutsche Beteiligungs AG 1,346 72,241 67,402 0.0 FIBI Holdings Ltd. 1,451 57,596 67,217 0.0 Awa Bank Ltd. 2,800 92,729 62,791 0.0 Investment AB Oresund 2,850 58,848 61,322 0.0 Heartland Group Holdings Ltd. 34,049 51,757 60,985 0.0 McMillan Shakespeare Ltd. 5,045 63,149 60,737 0.0 Meritz Financial Group, Inc. 2,605 32,919 60,726 0.0 Bank of Okinawa Ltd. 2,200 89,065 60,675 0.0 Suruga Bank Ltd. 16,300 154,935 60,376 0.0 North Pacific Bank Ltd. 22,800 75,890 60,033 0.0 Liberbank SA 130,960 73,059 59,541 0.0 Hokkoku Bank Ltd. 2,400 94,067 59,256 0.0 Hyakugo Bank Ltd. 17,000 78,405 58,038 0.0 Value Partners Group Ltd. 72,000 71,235 56,944 0.0 Musashino Bank Ltd. 3,000 74,297 55,896 0.0 Dah Sing Financial Holdings Ltd. 13,200 54,449 55,882 0.0 Nanto Bank Ltd. 2,700 74,003 55,337 0.0 Migdal Insurance & Financial Holding Ltd. 32,258 47,889 55,042 0.0 Italmobiliare SPA 1,220 43,477 54,553 0.0 Alm Brand A/S 6,042 68,337 54,170 0.0 Menora Mivtachim Holdings Ltd. 2,206 46,063 54,072 0.0 Eclipx Group Ltd. 25,380 54,165 53,560 0.0 Sparebank 1 Oestlandet 3,035 38,901 51,972 0.0 Bank Handlowy w Warszawie SA 3,373 63,674 50,139 0.0 Guotai Junan International Holdings Ltd. 240,000 70,422 47,454 0.0 Senshu Ikeda Holdings, Inc. 26,600 68,408 47,187 0.0 Wuestenrot & Wuerttembergische AG 1,660 44,126 47,097 0.0 Dah Sing Banking Group Ltd. 34,400 59,694 47,008 0.0 MyState Ltd. 10,732 36,006 46,693 0.0 Collector AB 8,729 55,330 46,107 0.0 Hanwha Investment & Securities Co. Ltd. 8,587 19,266 45,134 0.0 Credito Emiliano SPA 5,932 49,909 43,991 0.0 TOMONY Holdings, Inc. 13,400 58,917 43,804 0.0 Hyakujushi Bank Ltd. 2,600 68,621 42,293 0.0 Banca Monte dei Paschi di Siena SPA 24,940 45,561 42,265 0.0 Australian Finance Group Ltd. 15,938 38,989 42,228 0.0 Aruhi Corp. 2,639 67,073 42,162 0.0 Banca IFIS SPA 2,082 34,956 40,969 0.0 Hanwha General Insurance Co. Ltd. 7,560 37,259 40,525 0.0 Keiyo Bank Ltd. 8,900 74,852 40,414 0.0 Humm Group Ltd. 41,205 55,581 37,923 0.0 Bank of the Ryukyus Ltd. 4,700 54,359 37,650 0.0

112 Vanguard FTSE Developed All Cap ex North America Index ETF

Description Number of Shares Cost ($) Fair Value ($) % of Net Assets Toho Bank Ltd. 16,500 48,134 37,554 0.0 Yuanta Securities Korea Co. Ltd. 6,994 21,185 37,068 0.0 Warsaw Stock Exchange 2,383 29,388 36,927 0.0 Sun Hung Kai & Co. Ltd. 51,000 29,844 33,911 0.0 Oita Bank Ltd. 1,800 53,903 33,638 0.0 SK Securities Co. Ltd. 29,516 20,338 33,267 0.0 Marusan Securities Co. Ltd. 4,900 36,557 33,020 0.0 GAM Holding AG 11,998 77,971 32,307 0.0 KTB Investment & Securities Co. Ltd. 3,748 11,427 32,105 0.0 Bank of Nagoya Ltd. 1,100 46,257 30,375 0.0 Tokyo Kiraboshi Financial Group, Inc. 1,800 43,426 30,043 0.0 Aomori Bank Ltd. 1,300 47,428 29,777 0.0 Eugene Investment & Securities Co. Ltd. 5,873 23,966 29,513 0.0 Mirae Asset Life Insurance Co. Ltd. 5,649 28,949 26,586 0.0 Akita Bank Ltd. 1,700 48,194 26,477 0.0 Navigator Global Investments Ltd. 15,613 36,340 25,909 0.0 Yamanashi Chuo Bank Ltd. 2,700 41,236 24,370 0.0 GCA Corp. 2,200 24,038 23,882 0.0 J Trust Co. Ltd. 5,700 36,541 23,530 0.0 FIDEA Holdings Co. Ltd. 17,300 28,766 23,162 0.0 Bank of Saga Ltd. 1,500 27,560 22,877 0.0 Tongyang Life Insurance Co. Ltd. 3,689 25,479 22,756 0.0 VP Bank AG 153 30,999 22,751 0.0 Kyokuto Securities Co. Ltd. 2,500 27,781 22,621 0.0 Fukui Bank Ltd. 1,500 30,865 22,576 0.0 San ju San Financial Group, Inc. 1,480 35,647 22,291 0.0 Chukyo Bank Ltd. ADR 1,400 27,357 22,211 0.0 Miyazaki Bank Ltd. 1,000 32,325 22,091 0.0 Kita-Nippon Bank Ltd. 1,200 26,954 22,091 0.0 IDI Insurance Co. Ltd. 527 37,751 21,830 0.0 Shikoku Bank Ltd. 2,800 34,109 21,743 0.0 Aichi Bank Ltd. 700 34,599 21,610 0.0 Yamagata Bank Ltd. 2,300 48,176 21,273 0.0 Ichiyoshi Securities Co. Ltd. 3,300 29,749 21,170 0.0 Bank of Iwate Ltd. 1,100 42,028 20,863 0.0 DeA Capital SPA 10,620 20,981 20,305 0.0 Ehime Bank Ltd. 2,300 33,123 20,041 0.0 Tochigi Bank Ltd. 10,400 31,495 19,841 0.0 Sparx Group Co. Ltd. 6,500 20,063 18,565 0.0 Shimizu Bank Ltd. 1,100 31,079 18,004 0.0 Michinoku Bank Ltd. ADR 1,600 27,665 16,619 0.0 DB Financial Investment Co. Ltd. 1,762 8,065 14,027 0.0 Daishin Securities Co. Ltd. 628 9,648 13,638 0.0 Kyobo Securities Co. Ltd. 1,241 10,882 12,063 0.0 Towa Bank Ltd. 2,000 22,098 11,268 0.0 Convoy Global Holdings Ltd. 210,000 8,115 5,592 0.0 China LNG Group Ltd. 74,000 13,739 4,956 0.0 Union Financiere de France BQE SA 78 3,838 2,079 0.0 379,401,302 384,783,138 15.7 Health Care Roche Holding AG 66,784 25,446,700 31,283,163 1.3 Novartis AG 196,401 21,929,988 22,185,219 0.9 AstraZeneca plc 121,929 13,774,821 18,110,811 0.8 Novo Nordisk A/S Class B 150,209 11,255,244 15,584,980 0.7 Sanofi 100,749 12,041,166 13,072,860 0.6 CSL Ltd. 42,283 9,030,801 11,210,408 0.5 GlaxoSmithKline plc 458,293 11,795,713 11,127,795 0.5 Bayer AG 91,532 9,738,066 6,883,382 0.3 EssilorLuxottica SA 27,407 5,048,039 6,264,074 0.3 Lonza Group AG 6,936 3,614,092 6,093,544 0.3 Takeda Pharmaceutical Co. Ltd. 142,900 7,038,501 5,929,259 0.3 Hoya Corp. 33,400 3,621,753 5,488,975 0.2 Koninklijke Philips NV 84,482 4,835,341 5,184,546 0.2 Daiichi Sankyo Co. Ltd. 175,000 4,411,179 4,675,143 0.2 Astellas Pharma, Inc. 171,300 3,381,679 3,697,159 0.2 Alcon, Inc. 42,443 3,354,678 3,683,294 0.2 M3, Inc. 38,816 1,844,018 3,513,454 0.2 Terumo Corp. 60,800 2,445,366 3,053,874 0.1 Eisai Co. Ltd. 24,400 2,197,870 2,974,084 0.1 Chugai Pharmaceutical Co. Ltd. 60,100 2,195,498 2,951,661 0.1 Merck KGaA 12,045 1,984,583 2,860,164 0.1 Celltrion, Inc. 9,681 2,391,844 2,858,210 0.1 Genmab A/S 5,499 1,779,726 2,786,510 0.1

113 Vanguard FTSE Developed All Cap ex North America Index ETF

Description Number of Shares Cost ($) Fair Value ($) % of Net Assets Sysmex Corp. 17,500 1,848,706 2,577,235 0.1 Coloplast A/S Class B 12,267 1,890,733 2,492,723 0.1 Olympus Corp. 99,100 1,821,652 2,441,264 0.1 Fresenius SE & Co. KGaA 37,611 2,826,111 2,429,922 0.1 Sonova Holding AG 4,908 1,371,725 2,288,091 0.1 Smith & Nephew plc 80,848 2,078,686 2,160,978 0.1 Otsuka Holdings Co. Ltd. 38,900 2,126,590 1,999,447 0.1 Fresenius Medical Care AG & Co. KGaA 19,010 2,015,998 1,955,251 0.1 Siemens Healthineers AG 25,434 1,620,170 1,930,240 0.1 Straumann Holding AG 932 1,073,832 1,841,609 0.1 Argenx SE 4,714 1,215,228 1,765,933 0.1 Novozymes A/S Class B 18,382 1,262,868 1,715,926 0.1 Shionogi & Co. Ltd. 25,300 1,807,069 1,634,617 0.1 Eurofins Scientific SE 11,295 928,196 1,598,959 0.1 Sonic Healthcare Ltd. 44,303 1,177,716 1,581,560 0.1 Sartorius AG Pfd. 2,287 762,983 1,474,364 0.1 UCB SA 11,348 1,264,514 1,469,146 0.1 Fisher & Paykel Healthcare Corp. Ltd. 53,205 994,530 1,432,649 0.1 Cochlear Ltd. 5,920 1,071,521 1,385,079 0.1 GN Store Nord AS 12,188 818,319 1,318,484 0.1 Sartorius Stedim Biotech 2,190 567,900 1,282,869 0.1 Qiagen NV 20,620 1,028,132 1,234,233 0.1 Teva Pharmaceutical Industries Ltd. 92,816 1,964,366 1,144,579 0.1 Samsung Biologics Co. Ltd. 1,210 675,169 1,118,951 0.1 Ono Pharmaceutical Co. Ltd. 39,000 1,241,407 1,078,656 0.1 Chr. Hansen Holding A/S 9,376 1,051,170 1,047,983 0.1 Kyowa Kirin Co. Ltd. 22,700 652,786 997,847 0.1 Getinge AB Class B 20,581 504,009 961,946 0.1 Ramsay Health Care Ltd. 16,343 1,008,770 956,420 0.1 Grifols SA 26,709 993,235 895,835 0.1 Celltrion Healthcare Co. Ltd. 6,514 590,045 828,726 0.1 Carl Zeiss Meditec AG (Bearer) 3,412 466,333 816,465 0.0 Vifor Pharma AG 4,702 860,797 754,306 0.0 Ambu A/S Class B 15,654 540,036 745,320 0.0 Evotec SE 13,252 451,523 743,978 0.0 Amplifon SPA 12,166 431,353 743,931 0.0 Orpea SA 4,577 712,080 720,862 0.0 Dechra Pharmaceuticals plc 9,502 449,876 710,326 0.0 Demant A/S 9,663 403,932 673,608 0.0 Hikma Pharmaceuticals plc 16,089 554,695 673,204 0.0 Tecan Group AG 1,087 409,987 667,519 0.0 Recordati SPA 8,796 488,755 622,596 0.0 ConvaTec Group plc 150,292 555,275 618,575 0.0 Kobayashi Pharmaceutical Co. Ltd. 5,600 581,546 592,920 0.0 Elekta AB Class B 32,604 511,049 585,387 0.0 BioMerieux 3,995 496,186 574,933 0.0 Santen Pharmaceutical Co. Ltd. 32,600 680,941 556,482 0.0 Asahi Intecc Co. Ltd. 17,200 521,660 509,681 0.0 Genus plc 5,963 331,371 505,950 0.0 Orion Oyj Class B 9,389 499,246 499,806 0.0 PeptiDream, Inc. 8,000 466,413 486,439 0.0 DiaSorin SPA 2,054 331,619 481,100 0.0 Microport Scientific Corp. 43,000 167,822 477,558 0.0 Ansell Ltd. 11,633 310,430 470,546 0.0 Idorsia Ltd. 13,616 432,354 464,041 0.0 Nippon Shinyaku Co. Ltd. 4,700 429,740 461,972 0.0 ALK-Abello A/S Class B 764 291,725 451,414 0.0 Ryman Healthcare Ltd. 37,925 424,884 430,862 0.0 UDG Healthcare plc 23,350 308,546 426,998 0.0 Siegfried Holding AG 365 237,377 424,182 0.0 Ipsen SA 3,180 435,214 409,638 0.0 Gerresheimer AG 2,853 313,548 390,683 0.0 Sumitomo Dainippon Pharma Co. Ltd. 14,900 312,612 387,000 0.0 Hisamitsu Pharmaceutical Co. Inc. 6,300 447,624 384,477 0.0 Galapagos NV 4,394 694,044 377,347 0.0 Bachem Holding AG Class B 501 145,122 367,797 0.0 Swedish Orphan Biovitrum AB 15,861 378,247 358,381 0.0 Medipal Holdings Corp. 13,100 350,097 310,141 0.0 Rohto Pharmaceutical Co. Ltd. 9,200 321,456 306,390 0.0 SK Biopharmaceuticals Co. Ltd. 2,263 395,257 306,069 0.0 Alfresa Holdings Corp. 16,200 449,858 299,850 0.0 Bavarian Nordic A/S 5,844 228,840 298,672 0.0 Vitrolife AB 5,799 160,316 298,583 0.0 Yuhan Corp. 4,139 226,680 287,180 0.0

114 Vanguard FTSE Developed All Cap ex North America Index ETF

Description Number of Shares Cost ($) Fair Value ($) % of Net Assets Taisho Pharmaceutical Holdings Co. Ltd. ADR 4,300 408,337 285,448 0.0 MorphoSys AG 2,962 389,820 284,557 0.0 Celltrion Pharm, Inc. 1,619 158,932 279,852 0.0 Shin Poong Pharmaceutical Co. Ltd. 2,914 568,933 275,561 0.0 Korian SA 5,891 261,004 269,390 0.0 Arjo AB Class B 19,814 122,484 253,041 0.0 Seegene, Inc. 2,702 97,462 245,709 0.0 Nihon Kohden Corp. 6,900 260,846 244,034 0.0 EBOS Group Ltd. 8,643 182,254 241,554 0.0 Hanmi Pharm Co. Ltd. 652 275,706 239,813 0.0 Suzuken Co. Ltd. 6,600 368,560 239,683 0.0 Alteogen, Inc. 2,604 140,796 239,660 0.0 Summerset Group Holdings Ltd. 20,544 161,241 238,375 0.0 Tsumura & Co. 5,900 239,584 230,060 0.0 Sectra AB Class B 2,356 142,209 226,002 0.0 CompuGroup Medical SE & Co. KGaA 2,240 211,319 217,268 0.0 JCR Pharmaceuticals Co. Ltd. 5,200 120,528 216,979 0.0 H Lundbeck A/S 5,503 300,103 216,802 0.0 Mani, Inc. 7,600 195,553 215,881 0.0 Ship Healthcare Holdings, Inc. 7,400 207,095 214,080 0.0 Healius Ltd. 49,611 160,295 213,541 0.0 Revenio Group Oyj 2,187 178,694 205,222 0.0 Menicon Co. Ltd. 2,300 127,361 200,154 0.0 Sawai Group Holdings Co. Ltd. 3,600 218,930 198,815 0.0 As One Corp. 1,200 144,189 194,263 0.0 GrandVision NV 4,418 170,311 182,957 0.0 Medicover AB Class B 5,324 149,098 180,772 0.0 Indivior plc 67,814 196,116 179,345 0.0 Biotage AB 6,057 154,942 177,684 0.0 Green Cross Corp. 488 125,986 176,273 0.0 Mediclinic International plc 34,072 267,237 173,224 0.0 Haw Par Corp. Ltd. 13,500 167,358 170,379 0.0 Kaken Pharmaceutical Co. Ltd. 3,200 200,186 169,941 0.0 Genexine, Inc. 1,710 140,158 169,226 0.0 Chemometec A/S 987 110,404 164,408 0.0 Laboratorios Farmaceuticos Rovi SA 1,899 132,923 162,859 0.0 Virbac SA 378 101,644 160,422 0.0 Nipro Corp. 10,900 174,895 159,674 0.0 Miraca Holdings, Inc. 4,800 197,093 153,376 0.0 Almirall SA 6,938 136,397 149,872 0.0 Takara Bio, Inc. 4,400 130,894 145,552 0.0 Zealand Pharma A/S 3,955 171,169 144,646 0.0 Fagron 5,223 146,942 144,426 0.0 Dermapharm Holding SE 1,456 93,323 143,790 0.0 Faes Farma SA 28,798 163,726 142,348 0.0 PolyNovo Ltd. 52,888 123,592 138,652 0.0 Hugel, Inc. 523 86,293 137,790 0.0 Pharma Mar SA 1,219 94,094 135,797 0.0 CELLINK AB Class B 2,157 128,058 132,486 0.0 Vectura Group plc 56,063 105,225 130,813 0.0 Grifols SA Class B Pfd. 5,512 138,492 119,797 0.0 Chabiotech Co. Ltd. 3,760 72,713 118,865 0.0 Osstem Implant Co. Ltd. 932 76,304 116,521 0.0 JINS Holdings, Inc. 1,200 91,050 113,934 0.0 Cellivery Therapeutics, Inc. 1,020 126,799 113,055 0.0 STRATEC SE 650 112,720 112,443 0.0 Everest Medicines Ltd. 9,000 101,615 110,861 0.0 Hanmi Science Co. Ltd. 1,283 107,675 107,924 0.0 Nanosonics Ltd. 19,610 89,810 107,013 0.0 Spire Healthcare Group plc 24,554 64,951 103,328 0.0 Daewoong Co. Ltd. 2,009 48,825 103,274 0.0 Terveystalo Oyj 6,139 107,689 102,772 0.0 Clinuvel Pharmaceuticals Ltd. 3,588 99,446 102,403 0.0 Draegerwerk AG & Co. KGaA 874 84,818 100,624 0.0 Helixmith Co. Ltd. 2,873 215,973 100,144 0.0 Vaxcell-Bio Therapeutics Co. Ltd. 995 126,242 99,015 0.0 ST Pharm Co. Ltd. 799 52,372 98,927 0.0 Oscotec, Inc. 2,285 79,419 98,115 0.0 Medytox, Inc. 374 155,402 97,465 0.0 Green Cross Holdings Corp. 2,592 81,737 97,189 0.0 Mesoblast Ltd. 52,688 112,601 96,984 0.0 Chong Kun Dang Pharmaceutical Corp. 642 74,446 96,713 0.0 Medacta Group SA 578 69,614 94,002 0.0 Toho Holdings Co. Ltd. 4,700 133,698 93,705 0.0

115 Vanguard FTSE Developed All Cap ex North America Index ETF

Description Number of Shares Cost ($) Fair Value ($) % of Net Assets Japan Lifeline Co. Ltd. 6,200 121,454 93,452 0.0 Paramount Bed Holdings Co. Ltd. 4,200 109,545 92,734 0.0 Pharmicell Co. Ltd. 4,643 59,870 92,663 0.0 Hansa Biopharma AB 4,155 110,581 90,243 0.0 Arvida Group Ltd. 50,618 76,596 89,348 0.0 Daewoong Pharmaceutical Co. Ltd. 464 78,014 87,756 0.0 Raffles Medical Group Ltd. 79,800 84,902 86,745 0.0 PureTech Health plc 14,745 99,041 86,012 0.0 Compugen Ltd. 8,399 91,402 85,317 0.0 Mochida Pharmaceutical Co. Ltd. 2,100 99,036 85,283 0.0 MedPacto, Inc. 1,071 80,908 82,554 0.0 Hanall Biopharma Co. Ltd. 3,452 105,532 82,368 0.0 ZERIA Pharmaceutical Co. Ltd. 3,500 85,135 81,808 0.0 LegoChem Biosciences, Inc. 1,378 66,032 80,610 0.0 MedPeer, Inc. 1,600 114,205 78,634 0.0 Sam Chun Dang Pharm Co. Ltd. 1,304 68,308 78,002 0.0 BML, Inc. 1,800 67,161 76,112 0.0 Towa Pharmaceutical Co. Ltd. 2,500 73,868 75,420 0.0 COSMO Pharmaceuticals NV 658 92,115 75,191 0.0 Eiken Chemical Co. Ltd. 3,100 72,070 74,326 0.0 C-Mer Eye Care Holdings Ltd. 46,000 58,988 73,202 0.0 KYORIN Holdings, Inc. 3,600 84,625 72,778 0.0 Oceania Healthcare Ltd. 56,301 50,687 72,586 0.0 Hogy Medical Co. Ltd. 1,900 86,238 72,391 0.0 Nagaileben Co. Ltd. 2,400 78,715 71,627 0.0 DongKook Pharmaceutical Co. Ltd. 2,273 53,669 70,482 0.0 Bukwang Pharmaceutical Co. Ltd. 3,164 66,780 70,452 0.0 Ypsomed Holding AG 357 71,295 68,964 0.0 Enzychem Lifesciences Corp. 635 86,123 68,148 0.0 iNtRON Biotechnology, Inc. 2,489 64,582 67,601 0.0 Telix Pharmaceuticals Ltd. 11,896 51,203 67,350 0.0 Mithra Pharmaceuticals SA 1,898 69,758 66,196 0.0 Basilea Pharmaceutica AG 1,093 69,542 66,183 0.0 Frontage Holdings Corp. 50,000 33,989 65,775 0.0 Amicogen, Inc. 1,337 46,565 64,613 0.0 Solasto Corp. 4,100 65,474 64,315 0.0 Integral Diagnostics Ltd. 13,096 42,044 63,309 0.0 Kissei Pharmaceutical Co. Ltd. 2,600 81,492 62,454 0.0 Oncopeptides AB 4,595 99,442 62,108 0.0 Mezzion Pharma Co. Ltd. 403 67,881 60,576 0.0 ABLBio, Inc. 2,448 77,616 58,950 0.0 Estia Health Ltd. 25,058 65,591 57,539 0.0 Ilyang Pharmaceutical Co. Ltd. 1,356 52,995 56,510 0.0 Binex Co. Ltd. 2,320 51,084 54,592 0.0 Attendo AB 9,616 79,548 54,524 0.0 Yungjin Pharmaceutical Co. Ltd. 8,272 59,646 53,301 0.0 CMG Pharmaceutical Co. Ltd. 9,021 51,132 52,275 0.0 Samsung Pharmaceutical Co. Ltd. 5,290 32,186 50,723 0.0 Camurus AB 1,595 49,123 49,423 0.0 Karo Pharma AB 6,176 63,900 49,005 0.0 Riverstone Holdings Ltd. 43,200 50,084 48,950 0.0 DIO Corp. 1,072 40,996 48,859 0.0 L&C Bio Co. Ltd. 1,315 60,508 48,367 0.0 Dentium Co. Ltd. 674 54,005 48,099 0.0 Seikagaku Corp. 3,900 60,829 47,036 0.0 Green Cross LabCell Corp. 422 53,639 46,031 0.0 Thomson Medical Group Ltd. 577,300 46,992 45,736 0.0 Virtus Health Ltd. 7,404 38,518 45,429 0.0 Mayne Pharma Group Ltd. 151,119 93,672 44,956 0.0 JW Pharmaceutical Corp. 1,353 46,026 44,558 0.0 CrystalGenomics, Inc. 5,104 58,135 44,113 0.0 Medipost Co. Ltd. 1,279 56,419 44,090 0.0 Dong-A ST Co. Ltd. 466 44,968 44,067 0.0 Tokai Corp. 1,600 43,996 43,414 0.0 Starpharma Holdings Ltd. Class A 31,181 36,287 43,336 0.0 SillaJen, Inc. 3,240 188,876 43,108 0.0 Korea United Pharm, Inc. 703 46,091 42,902 0.0 Eoflow Co. Ltd. 706 55,747 42,542 0.0 Beijing Tong Ren Tang Chinese Medicine Co. Ltd. 19,000 40,987 38,840 0.0 United Laboratories International Holdings Ltd. 38,000 37,776 38,598 0.0 Eutilex Co. Ltd. 1,045 46,432 37,460 0.0 Pacific Edge Ltd. 34,961 32,130 37,208 0.0 Anterogen Co. Ltd. 500 45,916 36,946 0.0 OliX Pharmaceuticals, Inc. 758 37,528 36,840 0.0

116 Vanguard FTSE Developed All Cap ex North America Index ETF

Description Number of Shares Cost ($) Fair Value ($) % of Net Assets InBody Co. Ltd. 1,106 29,113 36,728 0.0 Lutronic Corp. 2,292 37,050 36,544 0.0 Huons Co. Ltd. 532 32,454 36,386 0.0 Nichi-iko Pharmaceutical Co. Ltd. 3,600 65,827 35,747 0.0 Elan Corp. 2,500 32,377 35,730 0.0 NKMax Co. Ltd. 2,178 37,032 34,726 0.0 Huons Global Co. Ltd. 467 27,445 34,456 0.0 Dong-A Socio Holdings Co. Ltd. 250 32,692 33,400 0.0 Komipharm International Co. Ltd. 2,767 73,053 33,316 0.0 Medical Data Vision Co. Ltd. 1,300 31,619 31,909 0.0 Japara Healthcare Ltd. 26,361 33,822 31,368 0.0 Paradigm Biopharmaceuticals Ltd. 16,039 16,849 31,313 0.0 Opthea Ltd. 25,155 65,742 31,220 0.0 Daito Pharmaceutical Co. Ltd. 800 28,194 30,079 0.0 Vieworks Co. Ltd. 713 31,406 29,283 0.0 Jeil Pharmaceutical Co. Ltd. 601 35,065 28,879 0.0 Chong Kun Dang Holdings Corp. 241 25,812 28,488 0.0 Vital KSK Holdings, Inc. 3,200 40,871 25,563 0.0 Aprogen Pharmaceuticals, Inc. 18,760 34,874 25,476 0.0 i-SENS, Inc. 756 25,554 25,313 0.0 Oriola Oyj Class B 9,155 34,896 24,764 0.0 Torii Pharmaceutical Co. Ltd. 900 29,999 24,410 0.0 ASKA Pharmaceutical Holdings Co. Ltd. 2,200 36,611 24,177 0.0 Taiko Pharmaceutical Co. Ltd. 2,100 36,949 23,851 0.0 SCM Lifescience Co. Ltd. 666 26,885 23,727 0.0 CMIC Holdings Co. Ltd. 1,300 26,700 22,858 0.0 Shin Nippon Biomedical Laboratories Ltd. 2,500 23,370 22,844 0.0 Kwang Dong Pharmaceutical Co. Ltd. 2,291 14,455 22,723 0.0 Peptron, Inc. 1,478 33,184 20,559 0.0 Fuso Pharmaceutical Industries Ltd. 800 29,097 20,136 0.0 AbClon, Inc. 774 36,605 20,043 0.0 Draegerwerk AG & Co. KGaA Pfd. 163 14,012 19,101 0.0 Lee's Pharmaceutical Holdings Ltd. 24,000 29,186 18,599 0.0 Kamada Ltd. 2,520 26,551 18,291 0.0 Mercator Medical SA 204 24,196 17,372 0.0 Regis Healthcare Ltd. 9,572 30,352 17,352 0.0 Japan Medical Dynamic Marketing, Inc. 700 13,099 17,049 0.0 Fuji Pharma Co. Ltd. 1,200 21,151 15,437 0.0 Humedix Co. Ltd. 363 9,257 14,190 0.0 Guerbet 323 25,884 14,135 0.0 Dongsung Pharmaceutical Co. Ltd. 1,026 19,866 11,564 0.0 Dae Hwa Pharmaceutical Co. Ltd. 477 13,135 6,976 0.0 Boiron SA 118 13,438 6,697 0.0 Cell Biotech Co. Ltd. 124 7,930 2,768 0.0 Linical Co. Ltd. 200 3,845 1,881 0.0 NMC Health plc 4,547 173,025 0 0.0 241,826,752 280,176,232 11.4 Industrials Siemens AG 69,845 11,806,279 13,705,060 0.6 Keyence Corp. 16,700 7,500,009 10,446,939 0.4 Schneider Electric SE 49,287 6,683,558 9,603,112 0.4 Airbus SE 51,773 7,551,055 8,244,551 0.4 Adyen NV 2,693 4,546,147 8,148,602 0.4 Deutsche Post AG 91,074 4,878,347 7,671,454 0.3 Recruit Holdings Co. Ltd. 124,504 5,413,781 7,598,234 0.3 ABB, Ltd. 158,057 4,994,215 6,646,522 0.3 Hitachi Ltd. 86,400 4,225,520 6,131,704 0.3 Vinci SA 45,917 5,942,873 6,067,949 0.3 Daikin Industries Ltd. 24,700 4,634,622 5,701,636 0.3 Safran SA 32,514 5,463,102 5,582,560 0.2 FANUC Corp. 18,000 4,836,063 5,381,066 0.2 Sika AG 13,212 3,199,891 5,354,062 0.2 DSV Panalpina A/S 18,154 2,751,034 5,243,104 0.2 CRH plc 72,748 3,520,751 4,550,553 0.2 Itochu Corp. 125,400 3,559,087 4,477,025 0.2 Atlas Copco AB Class A 57,787 3,070,878 4,384,418 0.2 Mitsui & Co. Ltd. 150,000 3,356,707 4,184,660 0.2 Experian plc 85,169 3,264,157 4,059,044 0.2 Volvo AB Class B 132,431 3,114,292 3,948,177 0.2 SMC Corp. 5,300 3,082,252 3,881,974 0.2 Ashtead Group plc 41,721 1,903,714 3,828,288 0.2 Mitsubishi Corp. 111,200 3,670,915 3,756,667 0.2 Kone Oyj Class B 36,515 2,987,438 3,689,214 0.2

117 Vanguard FTSE Developed All Cap ex North America Index ETF

Description Number of Shares Cost ($) Fair Value ($) % of Net Assets Cie de Saint-Gobain 44,262 2,712,537 3,610,032 0.2 Ferguson plc 20,873 2,421,653 3,588,492 0.2 Holcim Ltd. 47,558 3,240,819 3,535,949 0.2 Transurban Group 256,243 3,196,835 3,389,832 0.2 Mitsubishi Electric Corp. 185,300 3,432,786 3,333,628 0.2 Legrand SA 24,991 2,526,362 3,275,780 0.2 Sandvik AB 100,874 2,499,968 3,192,861 0.1 Central Japan Railway Co. 16,900 3,935,002 3,177,084 0.1 Assa Abloy AB Class B 84,544 2,537,965 3,155,849 0.1 Geberit AG 3,272 2,153,994 3,042,021 0.1 East Japan Railway Co. 33,400 3,652,216 2,953,911 0.1 Teleperformance 5,380 1,623,496 2,704,353 0.1 BAE Systems plc 298,222 2,775,145 2,663,001 0.1 Komatsu Ltd. 84,800 2,864,978 2,611,714 0.1 Worldline SA 22,423 2,179,410 2,599,351 0.1 Kubota Corp. 100,400 2,305,118 2,516,974 0.1 CK Hutchison Holdings Ltd. 252,500 3,149,881 2,435,867 0.1 Atlas Copco AB Class B 35,947 1,717,381 2,342,209 0.1 Afterpay Touch Group Ltd. 20,684 988,512 2,272,287 0.1 Toshiba Corp. 40,800 1,667,432 2,187,236 0.1 SGS SA 544 1,847,085 2,079,899 0.1 Amcor plc CDI 141,814 2,001,155 1,994,708 0.1 Kuehne + Nagel International AG 4,632 1,133,470 1,964,576 0.1 AP Moller - Maersk A/S Class B 537 1,186,908 1,911,480 0.1 CNH Industrial NV 91,634 1,362,062 1,873,812 0.1 Sumitomo Corp. 105,200 1,973,798 1,746,468 0.1 James Hardie Industries plc CDI 41,290 1,073,144 1,737,708 0.1 Alstom SA 27,096 1,651,529 1,694,677 0.1 Epiroc AB Class A 59,884 1,076,842 1,690,815 0.1 Secom Co. Ltd. 17,900 1,926,726 1,686,333 0.1 Kingspan Group plc 13,958 1,039,226 1,632,408 0.1 Halma plc 35,054 1,088,756 1,614,261 0.1 Edenred 22,868 1,306,759 1,613,599 0.1 Spirax-Sarco Engineering plc 6,919 979,222 1,611,469 0.1 Smurfit Kappa Group plc 23,829 1,146,203 1,601,157 0.1 Ferrovial SA 43,901 1,429,412 1,595,599 0.1 Marubeni Corp. 145,200 1,312,425 1,565,059 0.1 MTU Aero Engines AG 4,985 1,364,483 1,529,247 0.1 Jardine Matheson Holdings Ltd. 19,100 1,463,245 1,511,806 0.1 Brambles Ltd. 139,353 1,444,602 1,482,053 0.1 Nibe Industrier AB Class B 112,105 678,346 1,461,216 0.1 HeidelbergCement AG 13,740 1,420,021 1,459,619 0.1 Rentokil Initial plc 172,270 1,195,240 1,458,733 0.1 Mondi plc 44,737 1,319,793 1,454,823 0.1 Yaskawa Electric Corp. 23,900 1,166,366 1,447,904 0.1 Intertek Group plc 15,216 1,330,385 1,439,417 0.1 Schindler Holding AG Ptg. Ctf. 3,748 1,167,388 1,420,939 0.1 AP Moller - Maersk A/S Class A 387 763,337 1,331,311 0.1 Aena SME SA 6,549 1,474,693 1,330,060 0.1 SG Holdings Co. Ltd. 39,900 807,932 1,296,747 0.1 Bunzl plc 31,164 1,172,843 1,273,592 0.1 Alfa Laval AB 28,736 911,734 1,257,810 0.1 Hyundai Merchant Marine Co. Ltd. 26,038 348,925 1,256,903 0.1 Minebea Mitsumi, Inc. 37,700 925,882 1,236,184 0.1 Nippon Paint Holdings Co. Ltd. 73,400 1,039,933 1,234,922 0.1 Adecco Group AG 14,450 1,165,833 1,216,835 0.1 Rolls-Royce Holdings plc 711,398 1,795,915 1,203,810 0.1 Toyota Tsusho Corp. 20,400 918,388 1,194,900 0.1 Thales SA 9,295 1,240,791 1,174,421 0.1 Shimadzu Corp. 24,500 873,092 1,174,009 0.1 West Japan Railway Co. 16,600 1,491,305 1,173,081 0.1 Melrose Industries plc 438,658 1,487,276 1,163,855 0.1 Samsung C&T Corp. 7,610 1,002,615 1,142,213 0.1 Prysmian SPA 24,852 887,661 1,103,249 0.1 Skanska AB Class B 33,316 958,591 1,095,038 0.1 Nexi SPA 40,280 854,764 1,094,889 0.1 MISUMI Group, Inc. 25,800 882,598 1,082,305 0.1 Yamato Holdings Co. Ltd. 30,500 899,052 1,075,298 0.1 SIG Combibloc Group AG 31,236 728,029 1,051,986 0.1 Bureau Veritas SA 26,435 862,679 1,035,713 0.1 Randstad NV 10,809 832,276 1,023,810 0.1 Atlantia SPA 45,479 1,391,659 1,019,821 0.1 Smiths Group plc 36,432 945,850 990,926 0.1 Daifuku Co. Ltd. 8,800 742,496 990,640 0.1

118 Vanguard FTSE Developed All Cap ex North America Index ETF

Description Number of Shares Cost ($) Fair Value ($) % of Net Assets Disco Corp. 2,600 758,182 984,816 0.1 SEEK Ltd. 31,881 654,587 982,213 0.1 Mitsubishi Heavy Industries Ltd. 26,700 1,235,664 973,797 0.1 Xinyi Glass Holdings Ltd. 192,000 428,033 968,973 0.1 VAT Group AG 2,345 525,967 966,315 0.1 KION Group AG 7,194 691,714 949,528 0.1 Nippon Yusen KK 15,100 420,130 948,478 0.1 Odakyu Electric Railway Co. Ltd. 29,900 936,008 936,054 0.1 DCC plc 9,165 1,022,344 927,830 0.1 MTR Corp. Ltd. 132,500 962,246 913,774 0.1 Signify NV 11,480 547,030 899,226 0.1 Bouygues SA 19,519 1,029,798 894,020 0.1 AGC, Inc. 16,900 809,353 878,647 0.1 Hamamatsu Photonics KK 11,700 634,449 874,586 0.1 Knorr-Bremse AG 6,112 868,933 870,621 0.1 Eiffage SA 6,871 882,803 865,728 0.1 TOTO Ltd. 13,200 792,734 846,806 0.1 LG Corp. 7,456 739,057 840,348 0.1 DS Smith plc 116,920 775,431 835,838 0.1 Wartsila Oyj Abp 45,390 791,392 834,190 0.1 Indutrade AB 26,263 473,866 832,797 0.1 Epiroc AB Class B 33,844 544,301 823,024 0.1 Royal Mail plc 83,289 514,966 822,670 0.1 Volvo AB Class A 26,602 793,745 817,354 0.1 Getlink SE 41,778 802,299 806,766 0.1 Outotec Oyj 55,094 506,654 792,551 0.1 Isuzu Motors Ltd. 48,000 744,800 785,622 0.1 LIXIL Corp. 24,500 677,773 785,315 0.0 GEA Group AG 15,464 727,033 775,736 0.0 Hankyu Hanshin Holdings, Inc. 20,000 941,344 764,245 0.0 Electrocomponents plc 43,144 531,240 759,446 0.0 Boral Ltd. 110,680 578,068 756,272 0.0 Weir Group plc 23,778 695,749 752,910 0.0 Tok yu Corp. 44,500 909,308 750,182 0.0 Rexel SA 28,461 547,237 737,264 0.0 Tomra Systems ASA 10,620 407,624 725,910 0.0 Trelleborg AB Class B 25,172 671,343 724,213 0.0 IMI plc 24,578 484,824 723,163 0.0 Kintetsu Group Holdings Co. Ltd. 16,400 937,028 713,593 0.0 ACS Actividades de Construccion y Servicios SA 20,875 958,302 692,495 0.0 Georg Fischer AG 375 476,174 689,749 0.0 Valmet Oyj 12,752 426,445 688,754 0.0 Auckland International Airport Ltd. 108,734 693,719 683,986 0.0 Dai Nippon Printing Co. Ltd. 25,700 740,615 673,532 0.0 Lendlease Group 62,764 856,919 668,677 0.0 Schindler Holding AG 1,828 561,184 662,174 0.0 Fuji Electric Co. Ltd. 11,340 495,033 656,633 0.0 Kajima Corp. 41,600 777,913 653,024 0.0 Sydney Airport 120,031 765,388 646,090 0.0 Tobu Railway Co. Ltd. 19,100 742,818 612,012 0.0 Azbil Corp. 11,900 438,354 611,390 0.0 Bollore SA 92,022 533,715 610,807 0.0 Taisei Corp. 15,000 804,715 609,165 0.0 Reece Ltd. 27,698 491,770 607,947 0.0 Nippon Express Co. Ltd. 6,400 513,053 604,077 0.0 Lifco AB Class B 20,857 308,480 603,994 0.0 Obayashi Corp. 61,200 782,842 602,912 0.0 Kurita Water Industries Ltd. 10,100 413,208 600,607 0.0 GMO Payment Gateway, Inc. 3,720 399,424 600,556 0.0 Mitsui OSK Lines Ltd. 10,000 358,081 595,776 0.0 Spectris plc 10,659 490,817 590,411 0.0 Aalberts NV 8,717 486,336 580,138 0.0 Korea Shipbuilding & Offshore Engineering Co. Ltd. 3,926 560,129 578,475 0.0 Aurizon Holdings Ltd. 167,215 739,463 578,282 0.0 SITC International Holdings Co. Ltd. 109,000 217,575 563,999 0.0 Meggitt plc 71,191 600,392 561,663 0.0 Diploma plc 11,238 345,839 558,273 0.0 Kansai Paint Co. Ltd. 17,600 518,943 555,897 0.0 Securitas AB Class B 28,201 583,035 551,659 0.0 thyssenkrupp AG 42,607 950,430 549,976 0.0 Doosan Heavy Industries & Construction Co. Ltd. 20,872 274,714 547,371 0.0 Interpump Group SPA 7,255 327,916 532,059 0.0 ALS Ltd. 43,523 343,810 527,616 0.0 Ebara Corp. 8,600 355,009 524,841 0.0

119 Vanguard FTSE Developed All Cap ex North America Index ETF

Description Number of Shares Cost ($) Fair Value ($) % of Net Assets Atlas Arteria Ltd. 88,095 549,428 521,689 0.0 Toppan, Inc. 25,720 572,651 512,214 0.0 Singapore Technologies Engineering Ltd. 142,400 502,443 507,672 0.0 Keisei Electric Railway Co. Ltd. 12,800 552,002 506,254 0.0 Hoshizaki Corp. 4,800 534,466 505,540 0.0 NGK Insulators Ltd. 24,100 527,426 501,193 0.0 Elis SA 21,397 537,482 499,201 0.0 Beijer Ref AB Class B 22,581 301,107 498,613 0.0 Huhtamaki Oyj Series I 8,499 480,583 498,607 0.0 ISS A/S 16,903 580,437 491,351 0.0 Nabtesco Corp. 10,400 462,401 487,332 0.0 Wienerberger AG 10,164 347,914 485,090 0.0 Fletcher Building Ltd. 74,414 409,659 484,195 0.0 Belimo Holding AG 850 335,867 481,669 0.0 Rheinmetall AG 3,925 543,420 480,130 0.0 Miura Co. Ltd. 8,900 398,298 478,111 0.0 Inchcape plc 36,294 440,593 477,133 0.0 Shimizu Corp. 50,100 582,704 476,233 0.0 Rotork plc 79,143 400,925 460,854 0.0 Fluidra SA 9,276 263,319 455,650 0.0 InPost SA 18,126 515,333 450,537 0.0 Andritz AG 6,377 402,287 443,696 0.0 Aeroports de Paris 2,680 549,295 432,324 0.0 Venture Corp. Ltd. 24,400 408,610 431,797 0.0 Amada Holdings Co. Ltd. 34,400 469,315 431,003 0.0 Sojitz Corp. 115,300 441,833 430,939 0.0 Swire Pacific Ltd. Class A 50,500 586,921 423,962 0.0 Hyundai Engineering & Construction Co. Ltd. 6,577 333,420 421,625 0.0 Yokogawa Electric Corp. 22,500 519,775 416,709 0.0 Nagoya Railroad Co. Ltd. 17,700 602,814 407,986 0.0 Grafton Group plc 20,785 307,882 407,826 0.0 Sweco AB Class B 18,026 263,587 406,386 0.0 Hyundai Glovis Co. Ltd. 1,758 333,829 404,012 0.0 Qube Holdings Ltd. 135,802 334,833 400,209 0.0 Haseko Corp. 23,100 379,431 392,255 0.0 Bucher Industries AG 599 282,985 388,224 0.0 Acciona SA 2,076 301,585 388,088 0.0 Hays plc 142,464 384,926 386,518 0.0 THK Co. Ltd. 10,300 393,032 380,945 0.0 Samsung Engineering Co. Ltd. 14,291 250,754 375,569 0.0 Flughafen Zurich AG 1,816 410,391 372,217 0.0 Persol Holdings Co. Ltd. 15,100 392,038 369,789 0.0 Konecranes Oyj Class A 7,077 340,451 369,144 0.0 Elbit Systems Ltd. 2,290 409,087 367,245 0.0 Hitachi Construction Machinery Co. Ltd. 9,600 356,248 363,624 0.0 Leonardo SPA 36,220 475,251 362,324 0.0 Addtech AB Series B 17,539 212,887 360,615 0.0 AFRY AB Series B 8,831 263,577 360,075 0.0 Kawasaki Heavy Industries Ltd. 13,500 434,512 357,717 0.0 Rational AG 318 294,603 356,775 0.0 Reliance Worldwide Corp. Ltd. 71,934 290,762 351,756 0.0 COMSYS Holdings Corp. 10,207 360,527 350,175 0.0 Sohgo Security Services Co. Ltd. 6,200 388,832 350,013 0.0 Sumitomo Heavy Industries Ltd. 10,200 399,712 348,228 0.0 Hyundai Heavy Industries Holdings Co. Ltd. 4,464 333,580 347,526 0.0 Rockwool International A/S Class B 571 235,315 344,257 0.0 IWG plc 66,603 367,597 342,487 0.0 Keikyu Corp. 22,500 509,276 340,898 0.0 Downer EDI Ltd. 65,262 380,016 339,151 0.0 Koninklijke Vopak NV 6,029 385,872 339,093 0.0 Keihan Holdings Co. Ltd. 9,000 468,305 337,383 0.0 Arcadis NV 6,608 219,972 334,977 0.0 IHI Corp. 11,300 378,113 332,327 0.0 Balfour Beatty plc 63,193 294,529 331,438 0.0 Aggreko plc 22,379 301,410 329,996 0.0 Kawasaki Kisen Kaisha Ltd. 7,400 190,158 329,830 0.0 SPIE SA 11,523 324,945 328,278 0.0 Bravida Holding AB 18,300 238,154 328,037 0.0 Worley Ltd. 28,780 338,164 319,995 0.0 DKSH Holding AG 3,201 274,192 303,605 0.0 QinetiQ Group plc 51,455 252,246 302,442 0.0 Dassault Aviation SA 206 367,486 300,091 0.0 Nexans SA 2,654 187,294 299,515 0.0 Zip Co. Ltd. 42,509 235,290 299,156 0.0

120 Vanguard FTSE Developed All Cap ex North America Index ETF

Description Number of Shares Cost ($) Fair Value ($) % of Net Assets Samsung Heavy Industries Co. Ltd. 40,304 330,190 297,372 0.0 PostNL NV 43,792 168,179 294,019 0.0 Cargotec Oyj Class B 4,587 260,455 293,690 0.0 Saab AB Class B 8,931 388,448 293,676 0.0 Horiba Ltd. 3,600 279,336 289,186 0.0 Taiheiyo Cement Corp. 10,600 398,495 288,206 0.0 Daetwyler Holding AG (Bearer) 688 183,370 288,023 0.0 Buzzi Unicem SPA 8,758 260,963 287,703 0.0 Boskalis Westminster 7,139 255,281 283,687 0.0 Peab AB Class B 18,529 241,197 283,581 0.0 Pagegroup plc 29,298 234,518 280,163 0.0 Mitsubishi Materials Corp. 11,300 383,256 279,251 0.0 Fraport AG Frankfurt Airport Services Worldwide 3,285 322,201 277,188 0.0 Ulvac, Inc. 4,400 250,419 276,378 0.0 SFS Group AG 1,547 221,995 275,840 0.0 Kyowa Exeo Corp. 9,000 283,969 274,626 0.0 Japan Airport Terminal Co. Ltd. 4,900 282,286 272,796 0.0 Sulzer AG 1,575 212,767 269,650 0.0 Seibu Holdings, Inc. 18,522 372,112 269,055 0.0 Ultra Electronics Holdings plc 6,777 217,775 265,481 0.0 Sanwa Holdings Corp. 17,400 250,065 264,792 0.0 Seven Group Holdings Ltd. 13,952 251,605 263,950 0.0 Loomis AB Class B 6,771 301,036 262,453 0.0 Serco Group plc 112,805 250,247 261,860 0.0 Jungheinrich AG Pfd. 4,312 205,243 261,012 0.0 Hino Motors Ltd. 23,800 305,748 259,426 0.0 Renishaw plc 3,078 229,432 259,373 0.0 Network International Holdings plc 41,309 376,089 258,423 0.0 Sankyu, Inc. 4,800 272,667 257,857 0.0 Nankai Electric Railway Co. Ltd. 9,700 313,379 256,810 0.0 Inficon Holding AG 178 168,391 255,149 0.0 GS Engineering & Construction Corp. 5,347 233,306 252,230 0.0 Orora Ltd. 81,087 276,879 251,025 0.0 Cerved Group SPA 17,258 224,220 248,365 0.0 Jeol Ltd. 3,400 104,922 246,567 0.0 FLSmidth & Co. A/S 4,772 257,546 245,675 0.0 Stadler Rail AG 4,480 273,844 244,145 0.0 CSR Ltd. 45,056 200,720 241,266 0.0 Interroll Holding AG 49 142,849 240,908 0.0 GS Yuasa Corp. 7,600 235,046 240,386 0.0 Varta AG 1,251 141,042 238,822 0.0 dormakaba Holding AG 280 234,003 236,501 0.0 Mitsubishi Logistics Corp. 6,400 222,338 234,919 0.0 OC Oerlikon Corp. AG 17,067 253,968 234,582 0.0 Toyo Seikan Group Holdings Ltd. 13,800 288,782 233,564 0.0 GS Holdings Corp. 4,546 232,174 231,191 0.0 Kinden Corp. 11,400 232,363 230,719 0.0 TKH Group NV CVA 3,693 228,386 230,702 0.0 Park24 Co. Ltd. 10,200 299,916 229,648 0.0 JGC Holdings Corp. 19,800 384,550 228,638 0.0 Link Administration Holdings Ltd. 48,781 283,361 228,561 0.0 Ushio, Inc. 10,000 175,238 226,484 0.0 Kamigumi Co. Ltd. 9,000 242,824 226,228 0.0 NKT A/S 3,969 181,230 225,576 0.0 Kongsberg Gruppen ASA 7,046 166,820 224,687 0.0 Stabilus SA 2,227 196,896 224,183 0.0 DL E&C Co. Ltd. 1,433 216,341 223,751 0.0 Penta-Ocean Construction Co. Ltd. 25,700 217,264 221,643 0.0 Verallia SA 4,810 209,376 220,805 0.0 Fuji Corp. 7,700 185,302 218,378 0.0 Korea Aerospace Industries Ltd. 6,005 251,116 217,239 0.0 Instalco AB 4,203 201,171 216,042 0.0 Mabuchi Motor Co. Ltd. 4,600 255,378 215,551 0.0 Euronav NV 18,709 226,906 215,398 0.0 Genuit Group plc 20,544 161,103 215,079 0.0 Credit Saison Co. Ltd. 14,200 273,076 214,511 0.0 SHO-BOND Holdings Co. Ltd. 4,100 197,467 211,562 0.0 Duerr AG 4,485 241,738 211,286 0.0 Nippon Electric Glass Co. Ltd. 7,200 247,960 209,660 0.0 Nishi-Nippon Railroad Co. Ltd. 6,900 228,004 207,236 0.0 Outsourcing, Inc. 9,200 161,460 207,236 0.0 Mayr Melnhof Karton AG 785 194,614 207,038 0.0 DMG Mori Co. Ltd. 9,300 192,917 206,895 0.0 Marshalls plc 17,625 184,473 206,830 0.0

121 Vanguard FTSE Developed All Cap ex North America Index ETF

Description Number of Shares Cost ($) Fair Value ($) % of Net Assets Aica Kogyo Co. Ltd. 4,700 198,486 204,767 0.0 Benefit One, Inc. 5,200 134,309 202,765 0.0 Fujitec Co. Ltd. 7,300 149,073 200,681 0.0 Doosan Infracore Co. Ltd. 12,604 117,462 200,265 0.0 Seino Holdings Co. Ltd. 12,600 225,408 200,181 0.0 Oesterreichische Post AG 3,025 158,376 199,233 0.0 Pacific Basin Shipping Ltd. 397,000 120,178 198,140 0.0 Bystronic AG 118 168,717 197,598 0.0 Kerry Logistics Network Ltd. 52,500 130,708 197,146 0.0 BOC Aviation Ltd. 18,700 187,493 195,308 0.0 Rengo Co. Ltd. 18,900 190,144 195,050 0.0 Landis+Gyr Group AG 2,247 224,884 194,458 0.0 Nolato AB Class B 15,860 152,076 193,360 0.0 FP Corp. 4,200 179,887 193,293 0.0 DFDS A/S 2,721 169,889 190,111 0.0 Nishimatsu Construction Co. Ltd. 4,900 164,305 189,153 0.0 Amano Corp. 6,000 191,558 187,502 0.0 Hochtief AG 1,965 316,204 186,872 0.0 Uponor Oyj Class A 5,182 121,872 185,983 0.0 Oxford Instruments plc 4,663 134,283 184,263 0.0 Toda Corp. 21,500 191,662 183,502 0.0 Norma Group SE 2,882 187,458 182,747 0.0 Ecopro BM Co. Ltd. 779 86,472 181,680 0.0 Hyundai Mipo Dockyard Co. Ltd. 1,864 118,093 179,138 0.0 Furukawa Electric Co. Ltd. 5,800 240,240 179,052 0.0 Japan Elevator Service Holdings Co. Ltd. 6,200 121,015 178,603 0.0 Japan Steel Works Ltd. 5,600 159,528 178,313 0.0 Vesuvius plc 19,669 176,043 177,655 0.0 Daewoo Shipbuilding & Marine Engineering Co. Ltd. 4,511 161,768 177,577 0.0 Lindab International AB 6,071 111,222 175,545 0.0 Electrolux Professional AB Class B 19,854 73,810 174,353 0.0 Topcon Corp. 9,400 179,104 173,882 0.0 Mirait Holdings Corp. 7,900 140,898 173,722 0.0 Neles Oyj 9,700 348,612 173,213 0.0 Euromoney Institutional Investor plc 9,942 151,296 173,134 0.0 Hyundai Rotem Co. Ltd. 6,467 157,911 172,442 0.0 Daiwabo Holdings Co. Ltd. 8,000 110,730 170,209 0.0 Morgan Advanced Materials plc 27,987 138,274 169,002 0.0 Traton SE 4,285 144,232 168,262 0.0 Hanwha Aerospace Co. Ltd. 3,234 143,474 167,135 0.0 Veidekke ASA 9,863 153,496 163,503 0.0 NWS Holdings Ltd. 124,000 230,207 163,320 0.0 Schouw & Co. A/S 1,201 133,698 163,174 0.0 Pan Ocean Co. Ltd. 17,374 100,601 163,150 0.0 Freightways Ltd. 14,916 117,796 162,619 0.0 S-1 Corp. 1,804 188,549 162,461 0.0 Nippo Corp. 4,600 130,988 162,433 0.0 Nichias Corp. 5,200 157,230 162,154 0.0 Meitec Corp. 2,400 160,900 160,927 0.0 Hazama Ando Corp. 17,600 175,623 160,623 0.0 SMS Co. Ltd. 4,300 136,957 159,515 0.0 Applus Services SA 13,024 192,928 157,596 0.0 OKUMA Corp. 2,600 179,725 157,513 0.0 Doosan Fuel Cell Co. Ltd. 2,835 105,448 155,866 0.0 Coats Group plc 133,300 171,543 155,288 0.0 Hitachi Transport System Ltd. 3,000 114,354 154,132 0.0 Shikun & Binui Ltd. 19,137 106,845 153,304 0.0 Redde Northgate plc 22,040 123,977 150,434 0.0 Kokuyo Co. Ltd. 7,700 146,509 149,050 0.0 Pfeiffer Vacuum Technology AG 626 129,928 147,269 0.0 HDC Hyundai Development Co-Engineering & Construction ADR 4,243 154,885 146,965 0.0 CIMIC Group Ltd. 7,975 262,079 146,649 0.0 CKD Corp. 5,600 115,269 146,200 0.0 OSG Corp. 6,800 182,996 146,119 0.0 Daewoo Engineering & Construction Co. Ltd. 16,669 106,072 145,716 0.0 Schweiter Technologies AG (Bearer) 79 134,163 143,508 0.0 Kardex AG 499 112,412 143,055 0.0 XP Power Ltd. 1,495 124,515 142,704 0.0 Burckhardt Compression Holding AG 284 113,171 142,482 0.0 Essentra plc 26,945 182,627 142,429 0.0 KCC Corp. 376 128,207 142,018 0.0 FDM Group Holdings plc 8,041 143,364 140,304 0.0 Cia de Distribucion Integral Logista Holdings SA 5,507 150,184 140,229 0.0 Zardoya Otis SA 16,388 177,625 139,822 0.0

122 Vanguard FTSE Developed All Cap ex North America Index ETF

Description Number of Shares Cost ($) Fair Value ($) % of Net Assets Kyudenko Corp. 3,500 162,238 139,210 0.0 Mitie Group plc 119,660 138,973 139,194 0.0 Krones AG 1,254 153,834 138,757 0.0 Nikkon Holdings Co. Ltd. 5,100 147,452 137,584 0.0 bpost SA 9,247 182,844 137,014 0.0 Koh Young Technology, Inc. 5,200 109,779 136,085 0.0 CJ Logistics Corp. 694 131,845 135,071 0.0 CJ Corp. 1,141 151,325 134,245 0.0 Nisshinbo Holdings, Inc. 12,500 136,631 133,743 0.0 Ibstock plc 36,525 141,852 133,335 0.0 Maeda Corp. 12,400 155,518 133,226 0.0 Fujikura Ltd. 23,100 146,042 132,985 0.0 Adelaide Brighton Ltd. 41,182 165,180 132,849 0.0 DL Holdings Co. Ltd. 1,486 249,709 130,719 0.0 Chemring Group plc 26,507 99,841 130,365 0.0 Kanematsu Corp. 7,900 122,120 130,182 0.0 Tadano Ltd. 10,000 144,476 129,420 0.0 Hyundai Elevator Co. Ltd. 2,193 132,553 128,045 0.0 Clarkson plc 2,318 87,069 126,493 0.0 GVS SPA 6,215 142,105 126,040 0.0 IR Japan Holdings Ltd. 800 71,406 124,868 0.0 Hitachi Zosen Corp. 15,600 92,363 124,792 0.0 Hanwha Corp. 3,562 141,087 124,356 0.0 Fukuyama Transporting Co. Ltd. 2,700 139,010 124,260 0.0 Takasago Thermal Engineering Co. Ltd. 6,000 120,194 123,975 0.0 Brickworks Ltd. 5,279 91,075 123,035 0.0 Toshiba TEC Corp. 2,400 102,802 122,368 0.0 LEM Holding SA 47 93,557 122,149 0.0 Enav SPA 21,861 136,271 121,991 0.0 Kureha Corp. 1,700 141,009 121,956 0.0 Hutchison Port Holdings Trust 437,000 145,832 121,756 0.0 YIT Oyj 16,013 130,851 121,456 0.0 Doosan Bobcat, Inc. 2,300 100,233 121,394 0.0 Raksul, Inc. 2,000 90,843 121,164 0.0 Glory Ltd. 4,700 171,003 120,763 0.0 Deutz AG 12,049 108,668 120,673 0.0 Alfen Beheer BV 1,038 112,058 120,039 0.0 Hanwha Corp. Pfd. 7,036 112,380 119,532 0.0 Babcock International Group plc 24,032 224,107 119,220 0.0 en-japan, Inc. 2,700 119,421 118,988 0.0 AMG Advanced Metallurgical Group NV 2,813 134,195 118,970 0.0 Carel Industries SPA 3,974 80,820 118,175 0.0 Takuma Co. Ltd. 6,200 105,411 116,141 0.0 Sekisui Jushi Corp. 4,900 120,776 115,351 0.0 Hanwa Co. Ltd. 3,200 135,786 114,603 0.0 Avon Rubber plc 2,539 166,376 113,622 0.0 IPH Ltd. 15,646 98,676 113,454 0.0 NCC AB Class B 5,291 130,384 111,928 0.0 Sumitomo Osaka Cement Co. Ltd. 3,300 173,590 111,189 0.0 Johnson Electric Holdings Ltd. 34,500 120,678 110,299 0.0 Senko Group Holdings Co. Ltd. 9,100 97,231 110,056 0.0 Ssangyong C&E Co. Ltd. 11,946 89,678 109,683 0.0 Tokai Holdings Corp. 10,800 123,876 109,047 0.0 Danel Adir Yeoshua Ltd. 419 77,702 108,753 0.0 Munters Group AB 9,812 77,119 108,685 0.0 Okumura Corp. 3,300 125,498 107,544 0.0 Kumagai Gumi Co. Ltd. 3,400 126,228 106,213 0.0 Tsubakimoto Chain Co. 3,000 134,792 106,102 0.0 Shapir Engineering and Industry Ltd. 11,144 73,275 105,239 0.0 Trusco Nakayama Corp. 3,300 107,995 104,268 0.0 Posco International Corp. 4,060 94,542 104,019 0.0 Capita plc 162,601 387,169 103,779 0.0 Arbonia AG 4,375 82,373 103,621 0.0 Hanwha Systems Co. Ltd. 5,520 109,445 103,489 0.0 Nihon Parkerizing Co. Ltd. 8,300 134,133 102,696 0.0 Senior plc 39,508 136,438 102,390 0.0 Fugro NV 8,546 135,248 101,440 0.0 Electra Ltd. 144 60,786 101,183 0.0 Okamoto Industries, Inc. 2,200 113,580 100,389 0.0 Maruwa Co Ltd. 800 79,483 99,876 0.0 Frontline Ltd. 8,878 90,287 99,292 0.0 Fuji Seal International, Inc. 3,800 133,910 98,740 0.0 Meidensha Corp. 4,000 98,861 98,582 0.0 Komax Holding AG 313 92,250 97,950 0.0

123 Vanguard FTSE Developed All Cap ex North America Index ETF

Description Number of Shares Cost ($) Fair Value ($) % of Net Assets Sacyr SA 31,132 100,727 97,926 0.0 Nilfisk Holding A/S 2,257 105,442 97,833 0.0 Zehnder Group AG 827 57,571 97,716 0.0 TKC Corp. 2,600 80,721 97,611 0.0 CTT-Correios de Portugal SA 13,712 72,602 97,056 0.0 SOLUM Co. Ltd. 3,127 101,384 96,791 0.0 Ashtrom Group Ltd. 3,429 81,618 96,429 0.0 Pushpay Holdings Ltd. 61,699 63,282 96,094 0.0 Takeuchi Manufacturing Co. Ltd. 3,100 85,806 95,700 0.0 Concentric AB 3,751 90,213 95,481 0.0 Maytronics Ltd. 3,690 79,914 95,229 0.0 D/S Norden A/S 2,396 53,954 94,395 0.0 Prosegur Cia de Seguridad SA 23,266 138,025 94,299 0.0 Tyro Payments Ltd. 27,544 97,210 94,232 0.0 Taikisha Ltd. 2,500 94,975 92,462 0.0 Hyosung Corp. 814 127,832 92,192 0.0 Equiniti Group plc 29,998 111,386 92,164 0.0 Kandenko Co. Ltd. 9,500 105,608 91,893 0.0 Max Co. Ltd. 4,500 83,396 91,475 0.0 Sumitomo Warehouse Co. Ltd. 5,100 83,016 90,869 0.0 UT Group Co. Ltd. 2,500 109,140 90,371 0.0 KEPCO Plant Service & Engineering Co. Ltd. 1,917 84,892 90,324 0.0 Construcciones y Auxiliar de Ferrocarriles SA 1,718 97,990 89,689 0.0 Bilfinger SE 2,413 114,261 89,438 0.0 Singapore Post Ltd. 135,400 129,447 89,184 0.0 Raito Kogyo Co. Ltd. 4,400 83,871 88,657 0.0 Rorze Corp. 800 42,472 87,291 0.0 Keller Group plc 6,351 84,906 87,132 0.0 Bossard Holding AG Class A 229 57,920 86,665 0.0 Cie d'Entreprises CFE 667 89,673 86,195 0.0 Kintetsu World Express, Inc. 3,300 83,948 86,080 0.0 Vetropack Holding AG 1,151 78,434 86,040 0.0 NCC AB Class A 4,002 96,093 85,761 0.0 Wacker Neuson SE 2,407 75,253 85,681 0.0 Maeda Kosen Co. Ltd. 2,200 64,479 85,662 0.0 Isracard Ltd. 16,827 77,963 85,432 0.0 LS Industrial Systems Co. Ltd. 1,389 84,682 85,378 0.0 Nichiha Corp. 2,700 97,710 85,039 0.0 Makino Milling Machine Co. Ltd. 1,700 96,124 84,971 0.0 AGFA-Gevaert NV 14,731 82,174 84,691 0.0 Irish Continental Group plc 13,202 93,086 83,752 0.0 Monadelphous Group Ltd. 8,595 112,207 83,499 0.0 Central Glass Co. Ltd. 3,500 98,042 83,096 0.0 Daihen Corp. 1,600 65,833 82,561 0.0 Vicat SA 1,374 88,698 82,222 0.0 Funai Soken Holdings, Inc. 3,050 85,100 81,940 0.0 Tarkett SA 2,762 73,084 81,120 0.0 IS Dongseo Co. Ltd. 1,206 47,870 80,627 0.0 SFA Engineering Corp. 1,690 74,124 80,464 0.0 Tsugami Corp. 4,200 57,973 80,082 0.0 Nomura Co. Ltd. 7,500 93,119 79,911 0.0 Japan Material Co. Ltd. 5,300 83,305 79,886 0.0 Bobst Group SA 798 78,859 79,109 0.0 Indus Holding AG 1,604 93,951 78,673 0.0 Taihan Electric Wire Co. Ltd. 23,304 28,119 78,668 0.0 Nachi-Fujikoshi Corp. 1,800 107,200 78,522 0.0 Koninklijke BAM Groep NV 22,789 106,585 78,377 0.0 Maeda Road Construction Co. Ltd. 3,200 83,545 77,902 0.0 Yokogawa Bridge Holdings Corp. 3,300 76,609 77,501 0.0 BeNext-Yumeshin Group Co. 5,400 102,069 76,815 0.0 Salini Impregilo SPA 23,325 72,525 76,658 0.0 Swire Pacific Ltd. Class B 55,000 100,083 76,562 0.0 SK Networks Co. Ltd. 11,547 71,961 76,436 0.0 NICE Information Service Co. Ltd. 2,755 55,044 76,037 0.0 ASKUL Corp. 3,900 82,274 75,362 0.0 Totetsu Kogyo Co. Ltd. 3,000 95,749 75,242 0.0 Strabag SE (Bearer) 1,396 64,345 74,108 0.0 Zignago Vetro SPA 2,994 54,304 73,864 0.0 Mega Or Holdings Ltd. 1,840 61,302 73,420 0.0 LG International Corp. 2,133 27,574 73,177 0.0 Hyundai Construction Equipment Co. Ltd. 1,202 74,365 73,090 0.0 Global Dominion Access SA 11,329 74,091 72,702 0.0 Noritz Corp. 3,500 75,082 72,553 0.0 Sumitomo Mitsui Construction Co. Ltd. 13,760 90,295 72,461 0.0

124 Vanguard FTSE Developed All Cap ex North America Index ETF

Description Number of Shares Cost ($) Fair Value ($) % of Net Assets Rieter Holding AG 298 64,755 72,178 0.0 NHN KCP Corp. 1,128 76,069 72,063 0.0 Hamburger Hafen und Logistik AG 2,292 71,509 71,355 0.0 Kanamoto Co. Ltd. 2,500 87,364 71,348 0.0 Giken Ltd. 1,400 67,607 70,757 0.0 INVISIO AB 2,584 80,743 70,564 0.0 Toyo Ink SC Holdings Co. Ltd. 3,200 87,465 70,261 0.0 Washtec AG 910 82,542 69,890 0.0 Korea Electric Terminal Co. Ltd. 629 48,346 69,856 0.0 Takara Standard Co. Ltd. 4,100 80,047 69,530 0.0 Maire Tecnimont SPA 15,319 67,598 69,378 0.0 Strike Co. Ltd. 1,400 67,582 69,273 0.0 Aichi Corp. 7,600 76,199 69,190 0.0 Nissha Co. Ltd. 3,700 66,687 68,980 0.0 Tocalo Co. Ltd. 4,400 64,312 68,874 0.0 Danieli & C Officine Meccaniche SPA Savings Shares 3,219 62,697 68,732 0.0 Nikkiso Co. Ltd. 5,500 73,074 68,542 0.0 Shun Tak Holdings Ltd. 168,000 79,208 66,971 0.0 Bunka Shutter Co. Ltd. 5,400 60,510 66,754 0.0 LG Hausys Ltd. 617 46,572 66,691 0.0 Aeon Delight Co. Ltd. 1,700 78,954 66,099 0.0 Bonheur ASA 1,876 65,611 65,735 0.0 Kitz Corp. 7,800 71,798 65,703 0.0 BayWa AG 1,219 60,431 65,160 0.0 Tsubaki Nakashima Co. Ltd. 3,400 62,624 64,790 0.0 Nippon Densetsu Kogyo Co. Ltd. 3,200 84,437 64,442 0.0 Nissin Electric Co. Ltd. 4,100 56,323 64,178 0.0 BW LPG Ltd. 7,994 61,622 63,959 0.0 Compagnie de L'Odet SA 37 54,840 63,571 0.0 Fujimori Kogyo Co. Ltd. 1,400 54,350 63,416 0.0 PI Advanced Materials Co. Ltd. 1,045 47,644 63,199 0.0 SBS Holdings, Inc. 1,700 45,792 63,159 0.0 Sanki Engineering Co. Ltd. 4,000 58,388 62,702 0.0 EPS Holdings, Inc. 3,100 56,019 62,186 0.0 NRW Holdings Ltd. 45,489 88,437 61,953 0.0 Yamazen Corp. 5,500 72,028 61,363 0.0 Dip Corp. 1,600 51,548 61,318 0.0 Mitsubishi Logisnext Co. Ltd. 5,400 78,162 61,271 0.0 Hioki EE Corp. 900 45,008 60,950 0.0 KEPCO Engineering & Construction Co. Inc. 1,094 27,497 60,749 0.0 Aida Engineering Ltd. 5,500 61,053 60,688 0.0 Hamakyorex Co. Ltd. 1,700 67,017 60,504 0.0 Star Micronics Co. Ltd. 3,200 59,967 60,372 0.0 Sanyo Denki Co. Ltd. 700 48,794 59,979 0.0 Nearmap Ltd. 34,486 85,285 59,632 0.0 Maruzen Showa Unyu Co. Ltd. 1,600 58,237 59,622 0.0 SIG plc 65,886 88,853 59,453 0.0 Takkt AG 2,883 49,025 59,356 0.0 Hirata Corp. 800 77,155 59,087 0.0 Chiyoda Corp. 12,000 70,824 59,042 0.0 Insource Co. Ltd. 2,200 40,632 58,884 0.0 Daiho Corp. 1,300 46,691 58,378 0.0 S-Pool, Inc. 5,200 52,273 58,074 0.0 Litalico, Inc. 900 45,784 57,536 0.0 Corticeira Amorim SGPS SA 3,694 57,823 57,501 0.0 Vossloh AG 919 59,635 57,423 0.0 Shinmaywa Industries Ltd. 5,300 59,666 56,707 0.0 Doosan Corp. Ltd. 538 46,524 56,614 0.0 Nippon Chemi-Con Corp. 1,900 46,080 56,578 0.0 Noritake Co. Ltd. 1,200 59,429 56,498 0.0 Maruwa Unyu Kikan Co. Ltd. 3,200 52,207 56,373 0.0 KCC Glass Corp. 815 52,328 56,189 0.0 Koenig & Bauer AG 1,353 79,075 55,931 0.0 Optex Group Co. Ltd. 2,700 59,599 55,909 0.0 Emeco Holdings Ltd. 56,847 90,218 55,755 0.0 Solus Advanced Materials Co. Ltd. 982 21,144 55,717 0.0 Noritsu Koki Co. Ltd. 2,100 50,316 55,668 0.0 Shibuya Corp. 1,600 62,175 55,427 0.0 CIR SPA - Compagnie Industriali Riunite 74,381 57,143 55,270 0.0 Pact Group Holdings Ltd. 15,989 58,588 54,998 0.0 Shibaura Machine Co. Ltd. 2,000 66,235 54,736 0.0 Hanjin Transportation Co. Ltd. 1,139 50,889 53,604 0.0 Tokyu Construction Co. Ltd. 6,100 54,289 53,561 0.0 Morita Holdings Corp. 3,000 66,072 53,519 0.0

125 Vanguard FTSE Developed All Cap ex North America Index ETF

Description Number of Shares Cost ($) Fair Value ($) % of Net Assets Trancom Co. Ltd. 600 55,319 53,352 0.0 Austal Ltd. 27,895 63,008 53,162 0.0 Raiznext Corp. 4,100 56,062 52,788 0.0 Fincantieri SPA 47,072 51,792 52,535 0.0 Toa Corp. 1,900 49,493 52,190 0.0 Mersen SA 1,080 49,620 52,099 0.0 Hensoldt AG 2,323 42,992 51,852 0.0 METAWATER Co. Ltd. 2,200 49,660 51,766 0.0 GWA Group Ltd. 20,099 59,363 51,758 0.0 FULLCAST Holdings Co. Ltd. 2,000 49,127 51,589 0.0 Mcnex Co. Ltd. 987 37,460 51,443 0.0 Sakai Moving Service Co. Ltd. 800 54,054 51,411 0.0 SIA Engineering Co. Ltd. 25,800 62,188 51,100 0.0 Nippon Sheet Glass Co. Ltd. 7,200 59,693 51,009 0.0 Nitto Kogyo Corp. 2,500 59,285 50,847 0.0 Mitsui-Soko Holdings Co. Ltd. 1,800 41,154 50,728 0.0 Yuasa Trading Co. Ltd. 1,500 54,550 50,373 0.0 Riken Keiki Co. Ltd. 1,700 50,014 50,356 0.0 Prosegur Cash SA 39,604 93,014 49,842 0.0 Dawonsys Co. Ltd. 2,280 43,212 49,138 0.0 Nohmi Bosai Ltd. 2,100 48,991 49,108 0.0 Korea Line Corp. 12,639 41,787 49,059 0.0 Park Systems Corp. 341 50,922 48,970 0.0 SmartGroup Corp. Ltd. 7,123 50,864 48,870 0.0 Biesse SPA 1,179 43,469 48,790 0.0 Organo Corp. 700 45,206 48,655 0.0 Relia, Inc. 3,200 49,394 48,448 0.0 Chudenko Corp. 1,900 58,811 48,353 0.0 Palfinger AG 930 46,920 48,278 0.0 Samwha Capacitor Co. Ltd. 724 56,656 48,005 0.0 Wakita & Co. Ltd. 4,200 54,168 47,983 0.0 Daiichi Jitsugyo Co. Ltd. 1,000 42,994 47,807 0.0 YAMABIKO Corp. 3,500 48,619 47,445 0.0 Bell System24 Holdings, Inc. 2,400 45,312 46,805 0.0 Shima Seiki Manufacturing Ltd. 2,200 101,745 46,611 0.0 Hexagon Composites ASA 8,682 59,678 46,601 0.0 Hosokawa Micron Corp. 700 49,589 46,468 0.0 Ricoh Leasing Co. Ltd. 1,200 48,776 46,122 0.0 Nippon Thompson Co. Ltd. 6,800 41,465 45,975 0.0 Chugoku Marine Paints Ltd. 4,800 48,378 45,948 0.0 Electro Optic Systems Holdings Ltd. 11,445 42,287 45,858 0.0 Hyundai Electric & Energy System Co. Ltd. 2,023 51,567 45,824 0.0 Nippon Ceramic Co. Ltd. 1,400 44,184 45,625 0.0 Sodick Co. Ltd. 4,000 47,281 45,565 0.0 Sakata INX Corp. 4,000 55,482 45,118 0.0 Intage Holdings, Inc. 2,600 31,557 44,991 0.0 Nishio Rent All Co. Ltd. 1,300 46,908 44,962 0.0 Fukushima Galilei Co. Ltd. 900 42,485 44,834 0.0 Akka Technologies 1,295 85,630 44,728 0.0 KH FEELUX Co. Ltd. 11,543 85,513 44,551 0.0 Cementir Holding NV 3,499 34,199 44,189 0.0 Nippon Signal Co. Ltd. 4,300 52,985 43,945 0.0 Financial Products Group Co. Ltd. 5,300 57,914 43,875 0.0 Hyosung Heavy Industries Corp. 542 41,386 43,506 0.0 Datalogic SPA 1,474 46,648 43,162 0.0 Asia Cement China Holdings Corp. 44,500 55,863 43,142 0.0 HDC Holdings Co. Ltd. 3,023 94,944 43,046 0.0 Obara Group, Inc. 1,000 53,928 42,508 0.0 Toppan Forms Co. Ltd. 3,500 45,765 42,251 0.0 LX Holdings Corp. 3,394 46,379 41,985 0.0 Sinko Industries Ltd. 2,000 42,417 41,838 0.0 Komori Corp. 4,600 58,545 41,724 0.0 Tongyang, Inc. 16,852 25,978 41,322 0.0 Nippon Koei Co. Ltd. 1,200 44,165 41,303 0.0 Flughafen Wien AG 961 49,189 41,278 0.0 NICE Holdings Co. Ltd. 1,960 41,134 41,056 0.0 LIG Nex1 Co. Ltd. 876 43,336 40,889 0.0 Tenma Corp. 1,400 30,392 40,080 0.0 ESPEC Corp. 1,600 35,274 39,968 0.0 Daiken Corp. 1,700 40,360 39,564 0.0 Atrae, Inc. 1,600 29,388 38,576 0.0 Hibiya Engineering Ltd. 1,900 48,355 38,496 0.0 Vidente Co. Ltd. 3,814 48,804 38,164 0.0 Sinfonia Technology Co. Ltd. 2,700 45,643 37,624 0.0

126 Vanguard FTSE Developed All Cap ex North America Index ETF

Description Number of Shares Cost ($) Fair Value ($) % of Net Assets Anest Iwata Corp. 3,300 42,449 37,259 0.0 Wallenius Wilhelmsen ASA 8,587 39,265 37,046 0.0 Kyokuto Kaihatsu Kogyo Co. Ltd. 2,100 37,987 36,948 0.0 HS Industries Co. Ltd. 4,212 43,240 36,542 0.0 LISI SA 902 40,506 36,492 0.0 Eagle Industry Co. Ltd. 2,900 46,296 36,335 0.0 Manitou BF SA 914 30,583 36,240 0.0 ACS Actividades de Construccion y Servicios SA Rights Exp. 07/09/2021 20,875 39,043 36,173 0.0 Union Tool Co. 800 29,465 35,568 0.0 Rheon Automatic Machinery Co. Ltd. 2,200 41,035 35,394 0.0 HI-LEX Corp. 1,900 40,504 35,295 0.0 SWCC Showa Holdings Co. Ltd. 1,800 28,039 35,265 0.0 Hanil Cement Co. Ltd. 201 33,907 35,252 0.0 Tsukishima Kikai Co. Ltd. 2,700 44,405 34,823 0.0 Oriental Shiraishi Corp. 11,200 38,193 34,738 0.0 Nippon Road Co. Ltd. 400 31,083 34,408 0.0 Shinwa Co Ltd. 1,400 37,538 34,176 0.0 Taeyoung Engineering & Construction Co. Ltd. 2,480 51,798 34,087 0.0 W-Scope Corp. 4,800 54,056 34,060 0.0 CI Takiron Corp. 5,200 44,366 33,881 0.0 Shin Nippon Air Technologies Co. Ltd. 1,500 33,881 33,822 0.0 Implenia AG 1,046 69,360 33,743 0.0 Danieli & C Officine Meccaniche SPA 1,029 26,209 33,622 0.0 Nichireki Co. Ltd. 2,300 42,410 33,539 0.0 Iino Kaiun Kaisha Ltd. 6,800 32,960 33,230 0.0 Nissei ASB Machine Co. Ltd. 600 36,287 33,035 0.0 Inscobee, Inc. 9,479 57,302 32,468 0.0 Toyo Construction Co. Ltd. 5,100 28,479 32,262 0.0 Riken Technos Corp. 4,700 26,900 32,249 0.0 LISI SA Loyalty Bonus 788 37,819 31,881 0.0 Kumho E&C Co. Ltd. 2,262 30,012 31,588 0.0 Katakura Industries Co. Ltd. 1,900 31,687 31,543 0.0 Pasona Group, Inc. 1,300 25,397 31,328 0.0 Konoike Transport Co. Ltd. 2,300 44,853 31,101 0.0 Asahi Diamond Industrial Co. Ltd. 5,400 33,379 31,027 0.0 Bando Chemical Industries Ltd. 3,100 37,521 30,851 0.0 Mitsui E&S Holdings Co. Ltd. 5,300 76,955 30,689 0.0 Sumitomo Densetsu Co. Ltd. 1,200 34,323 30,606 0.0 Pack Corp. 1,000 46,302 30,146 0.0 iMarketKorea, Inc. 2,409 25,387 30,065 0.0 Bertrandt AG 361 34,542 29,899 0.0 Youlchon Chemical Co. Ltd. 1,212 34,557 29,653 0.0 Stolt-Nielsen Ltd. 1,635 28,192 29,598 0.0 Taihei Dengyo Kaisha Ltd. 1,000 30,230 29,164 0.0 Link And Motivation, Inc. 3,300 26,562 28,791 0.0 Japan Transcity Corp. 4,800 30,372 28,758 0.0 Sambu Engineering & Construction Co. Ltd. 8,299 34,391 28,700 0.0 Nippon Parking Development Co. Ltd. 15,200 26,307 28,660 0.0 COSCO Shipping International Singapore Co. Ltd. 105,400 19,959 28,643 0.0 Sintokogio Ltd. 3,100 36,526 28,395 0.0 Denyo Co. Ltd. 1,300 34,105 28,254 0.0 Central Security Patrols Co. Ltd. 800 34,712 27,624 0.0 Mitsuboshi Belting Ltd. 1,400 37,666 27,334 0.0 World Holdings Co. Ltd. 800 24,548 27,089 0.0 NS United Kaiun Kaisha Ltd. 1,000 25,189 27,022 0.0 Doshisha Co. Ltd. 1,400 33,032 27,006 0.0 Hokkan Holdings Ltd. 1,700 28,478 26,496 0.0 Chilled & Frozen Logistics Holdings Co. Ltd. 1,400 32,519 26,241 0.0 Meisei Industrial Co. Ltd. 3,200 28,433 26,134 0.0 Tonami Holdings Co. Ltd. 500 31,842 25,940 0.0 Weathernews, Inc. 400 27,291 25,929 0.0 Yurtec Corp. 3,200 27,334 25,741 0.0 Teikoku Electric Manufacturing Co. Ltd. 1,800 27,098 25,525 0.0 OFX Group Ltd. 20,559 29,775 25,516 0.0 Daiwa Industries Ltd. 2,200 33,419 25,404 0.0 Byucksan Corp. 4,976 24,641 25,333 0.0 Brunel International NV 1,577 23,199 25,289 0.0 Tsurumi Manufacturing Co. Ltd. 1,300 31,657 25,164 0.0 Aiphone Co. Ltd. 1,100 23,604 25,146 0.0 Furukawa Co. Ltd. 1,800 38,084 25,103 0.0 Advan Co. Ltd. 2,400 31,471 25,036 0.0 Optorun Co. Ltd. 900 34,908 24,802 0.0 Iseki & Co. Ltd. 1,500 29,873 24,768 0.0 Tekken Corp. 1,200 30,038 24,661 0.0

127 Vanguard FTSE Developed All Cap ex North America Index ETF

Description Number of Shares Cost ($) Fair Value ($) % of Net Assets Osaki Electric Co. Ltd. 3,600 24,342 24,420 0.0 Toyo Corp. 2,000 25,508 24,300 0.0 Toenec Corp. 600 26,101 24,132 0.0 KC Co. Ltd. 809 27,688 24,018 0.0 Porr AG 1,005 27,754 23,613 0.0 Fudo Tetra Corp. 1,180 24,592 23,263 0.0 JSP Corp. 1,300 28,592 23,134 0.0 Torishima Pump Manufacturing Co. Ltd. 2,400 24,687 23,055 0.0 Dai-Dan Co. Ltd. 800 23,501 22,778 0.0 Takamatsu Construction Group Co. Ltd. 1,000 32,184 22,559 0.0 Zuiko Corp. 2,000 23,114 22,559 0.0 Shinnihon Corp. 2,400 26,470 22,492 0.0 Ocean Yield ASA 5,220 28,824 22,355 0.0 Oyo Corp. 1,600 28,847 22,296 0.0 JAC Recruitment Co. Ltd. 1,100 27,985 21,857 0.0 Fukuda Corp. 400 27,334 21,510 0.0 Shibusawa Warehouse Co. Ltd. 900 24,326 21,237 0.0 Nissin Corp. 1,300 22,893 21,234 0.0 Taisei Lamick Co. Ltd. 700 22,328 20,985 0.0 Kyodo Printing Co. Ltd. 700 27,443 20,696 0.0 Nippon Rietec Co. Ltd. 1,100 29,305 20,692 0.0 Maezawa Kyuso Industries Co. Ltd. 1,800 24,575 20,685 0.0 Dainichiseika Color & Chemicals Manufacturing Co. Ltd. 800 31,075 20,457 0.0 Hanil Holdings Co. Ltd. 1,358 28,557 20,457 0.0 HITO - Communications Holdings, Inc. 800 18,218 20,395 0.0 Furuno Electric Co. Ltd. 1,800 25,976 20,163 0.0 Nitto Kohki Co. Ltd. 1,000 27,622 20,094 0.0 Onoken Co. Ltd. 1,400 24,566 19,821 0.0 Tanseisha Co. Ltd. 2,000 29,030 19,792 0.0 JDC Corp. 3,100 20,322 19,714 0.0 Dai Nippon Toryo Co. Ltd. 2,100 28,774 19,704 0.0 Yamashin-Filter Corp. 2,500 31,239 19,692 0.0 Tatsuta Electric Wire and Cable Co. Ltd. 3,200 27,216 19,672 0.0 Seika Corp. 1,100 24,661 19,661 0.0 Moriroku Holdings Co. Ltd. 800 24,509 19,538 0.0 WDB Holdings Co. Ltd. 600 22,733 19,500 0.0 Eusu Holdings Co. Ltd. 2,461 19,935 19,321 0.0 Mie Kotsu Group Holdings, Inc. 3,700 26,584 19,278 0.0 CITIC Resources Holdings Ltd. 302,000 17,990 18,781 0.0 Yahagi Construction Co. Ltd. 2,300 25,104 18,219 0.0 Futaba Corp. 2,100 41,222 18,205 0.0 Takaoka Toko Co. Ltd. 1,200 23,534 18,154 0.0 CTS Co. Ltd. 1,900 13,401 17,976 0.0 Ohara, Inc. 1,100 24,402 17,930 0.0 Kyosan Electric Manufacturing Co. Ltd. 3,800 27,469 17,891 0.0 Kanaden Corp. 1,500 27,513 17,572 0.0 Bubs Australia Ltd. 42,619 43,562 17,235 0.0 CMBC Capital Holdings Ltd. 1,090,000 24,472 17,207 0.0 Pronexus, Inc. 1,500 23,983 17,120 0.0 Nihon Tokushu Toryo Co. Ltd. 1,400 28,911 17,025 0.0 Nichiden Corp. 700 20,065 16,822 0.0 Mota-Engil SGPS SA 7,679 21,854 15,765 0.0 Hochiki Corp. 1,200 26,491 15,718 0.0 Sankyo Tateyama, Inc. 1,600 24,917 15,263 0.0 Inaba Seisakusho Co. Ltd. 900 15,462 15,202 0.0 Hyundai Corp. 675 15,252 15,030 0.0 Tokyo Energy & Systems, Inc. 1,400 18,335 14,964 0.0 Japan Best Rescue System Co. Ltd. 1,500 22,012 14,275 0.0 Nippon Sharyo Ltd. 600 21,609 14,071 0.0 VPower Group International Holdings Ltd. Class H 48,000 25,584 13,394 0.0 Yushin Precision Equipment Co. Ltd. 1,400 16,807 12,605 0.0 KAWADA Technologies, Inc. 300 24,583 11,748 0.0 Yoma Strategic Holdings Ltd. 92,000 37,338 11,357 0.0 Nisso Corp. 800 12,619 7,390 0.0 Singamas Container Holdings Ltd. 50,000 9,338 7,016 0.0 Hisaka Works Ltd. 500 7,086 4,519 0.0 Airtech Japan Ltd. 300 6,407 4,147 0.0 Sekisui Kasei Co. Ltd. 600 7,813 4,050 0.0 MH Development Ltd. 18,000 21,498 3,329 0.0 Fujikura Kasei Co. Ltd. 500 4,173 2,901 0.0 Kitano Construction Corp. 100 5,169 2,594 0.0 Japan Cash Machine Co. Ltd. 400 5,948 2,499 0.0 Jamco Corp. 200 6,328 2,466 0.0 Shimojima Co. Ltd. 200 2,797 2,466 0.0

128 Vanguard FTSE Developed All Cap ex North America Index ETF

Description Number of Shares Cost ($) Fair Value ($) % of Net Assets Takamiya Co. Ltd. 400 3,066 2,276 0.0 Gecoss Corp. 200 2,869 1,959 0.0 Finablr plc 9,615 27,823 1,813 0.0 365,007,623 427,391,222 17.5 Real Estate Vonovia SE 52,709 3,709,919 4,220,023 0.2 Goodman Group 167,411 2,167,656 3,294,778 0.2 Mitsui Fudosan Co. Ltd. 87,100 2,618,386 2,500,345 0.1 Deutsche Wohnen SE 32,209 1,843,502 2,439,679 0.1 Sun Hung Kai Properties Ltd. 131,500 2,515,925 2,426,029 0.1 Link REIT 191,800 2,335,921 2,301,399 0.1 Mitsubishi Estate Co. Ltd. 107,300 2,473,278 2,150,646 0.1 Segro plc 110,913 1,470,881 2,076,631 0.1 CK Asset Holdings Ltd. 198,947 1,807,568 1,700,353 0.1 Sumitomo Realty & Development Co. Ltd. 36,600 1,589,461 1,621,114 0.1 Unibail-Rodamco-Westfield 12,528 2,406,482 1,342,824 0.1 Scentre Group 474,675 1,568,930 1,209,117 0.1 LEG Immobilien SE 6,685 1,042,871 1,192,266 0.1 Nippon Building Fund, Inc. 143 1,097,144 1,105,634 0.1 Wharf Real Estate Investment Co. Ltd. 150,000 1,119,303 1,079,906 0.1 Aroundtown SA 111,327 1,175,105 1,075,723 0.1 Mirvac Group 394,168 985,394 1,070,004 0.1 Stockland 237,634 1,003,791 1,029,475 0.1 Dexus 98,098 965,151 973,074 0.1 Japan Real Estate Investment Corp. 122 908,278 929,657 0.1 Gecina SA 4,749 966,064 901,029 0.1 Rightmove plc 78,620 745,803 873,386 0.1 Japan Metropolitan Fund Investment Corp. 640 774,295 859,703 0.1 Swiss Prime Site AG 6,949 853,991 854,583 0.1 New World Development Co. Ltd. 130,250 898,509 838,027 0.1 Nomura Real Estate Master Fund, Inc. 417 777,138 828,594 0.1 GLP J-REIT 387 789,609 827,272 0.1 Nippon Prologis REIT, Inc. 209 837,656 824,286 0.1 Ascendas REIT 299,463 842,158 813,818 0.1 GPT Group 177,333 882,213 807,806 0.1 CapitaLand Ltd. 235,200 768,477 803,847 0.1 Daito Trust Construction Co. Ltd. 5,900 1,015,002 799,780 0.1 CapitaLand Integrated Commercial Trust 404,710 824,062 779,206 0.1 Castellum AB 24,692 632,266 778,690 0.1 Land Securities Group plc 65,526 952,756 757,070 0.1 Fastighets AB Balder Class B 9,311 473,585 723,971 0.1 REA Group Ltd. 4,589 473,531 721,113 0.1 British Land Co. plc 84,842 814,265 718,273 0.1 ESR Cayman Ltd. 169,534 629,670 708,264 0.1 Henderson Land Development Co. Ltd. 118,384 736,717 694,669 0.1 Daiwa House REIT Investment Corp. 190 646,413 694,236 0.0 Sino Land Co. Ltd. 330,000 661,912 644,069 0.0 PSP Swiss Property AG 3,966 593,009 624,281 0.0 Hongkong Land Holdings Ltd. 105,600 789,599 622,439 0.0 Charter Hall Group 42,650 402,163 615,364 0.0 Warehouses De Pauw CVA 12,931 422,700 611,452 0.0 Sagax AB Class B 16,580 464,825 610,254 0.0 Orix JREIT, Inc. 248 537,108 591,564 0.0 Wharf Holdings Ltd. 125,000 521,827 589,982 0.0 Hang Lung Properties Ltd. 192,000 580,928 577,404 0.0 Unite Group plc 30,367 511,001 557,914 0.0 L E Lundbergforetagen AB Class B 6,957 383,503 556,249 0.0 Klepierre SA 17,286 724,419 551,605 0.0 Tritax Big Box REIT plc 161,479 417,533 542,247 0.0 Aedifica SA 3,255 465,947 532,011 0.0 Derwent London plc 9,169 511,390 520,740 0.0 Kojamo Oyj 18,129 486,341 513,015 0.0 Cofinimmo SA 2,678 494,400 504,952 0.0 United Urban Investment Corp. 281 465,700 503,807 0.0 Advance Residence Investment Corp. 122 468,508 503,621 0.0 Vicinity Centres 349,252 728,450 501,636 0.0 Mapletree Logistics Trust 261,889 419,332 494,576 0.0 Covivio 4,586 575,267 485,695 0.0 Hulic Co. Ltd. 34,700 467,723 483,929 0.0 Fabege AB 23,486 396,478 466,907 0.0 Entra ASA 15,956 328,499 451,871 0.0 TAG Immobilien AG 11,464 344,021 450,502 0.0 Mapletree Industrial Trust 168,718 404,777 439,855 0.0

129 Vanguard FTSE Developed All Cap ex North America Index ETF

Description Number of Shares Cost ($) Fair Value ($) % of Net Assets Samhallsbyggnadsbolaget i Norden AB Series B 82,410 297,471 427,898 0.0 Tokyu Fudosan Holdings Corp. 54,393 428,302 405,379 0.0 Industrial & Infrastructure Fund Investment Corp. 171 383,286 404,268 0.0 Alstria Office REIT-AG 17,644 377,359 403,940 0.0 Mapletree Commercial Trust 201,366 376,319 400,684 0.0 Open House Co. Ltd. 6,800 265,039 396,024 0.0 Merlin Properties Socimi SA 30,765 469,244 394,679 0.0 Frasers Logistics & Commercial Trust 296,689 354,666 393,574 0.0 Activia Properties, Inc. 66 352,669 387,322 0.0 Japan Prime Realty Investment Corp. 79 356,450 383,405 0.0 Inmobiliaria Colonial Socimi SA 30,579 413,491 382,368 0.0 Sekisui House REIT, Inc. 361 358,158 370,542 0.0 Swire Properties Ltd. 95,400 403,759 352,157 0.0 CA Immobilien Anlagen AG 6,806 306,737 351,311 0.0 LaSalle Logiport REIT 160 319,543 334,884 0.0 Tokyo Tatemono Co. Ltd. 18,700 338,217 330,475 0.0 Big Yellow Group plc 14,459 247,184 323,277 0.0 Nomura Real Estate Holdings, Inc. 10,200 295,342 320,688 0.0 Wihlborgs Fastigheter AB 11,880 240,373 319,432 0.0 LondonMetric Property plc 80,122 279,992 317,158 0.0 National Storage REIT 170,900 320,203 314,578 0.0 ICADE 2,891 327,289 309,068 0.0 Primary Health Properties plc 117,348 270,663 308,941 0.0 Allreal Holding AG 1,251 303,269 305,348 0.0 Assura plc 239,204 284,611 303,008 0.0 Nippon Accommodations Fund, Inc. 42 300,626 300,365 0.0 Japan Hotel REIT Investment Corp. 402 283,367 298,705 0.0 Azrieli Group Ltd. 3,410 271,732 297,403 0.0 Mitsui Fudosan Logistics Park, Inc. 45 286,955 297,219 0.0 Kenedix Office Investment Corp. 34 289,514 297,018 0.0 Safestore Holdings plc 18,308 207,590 296,587 0.0 Grainger plc 60,493 274,483 294,925 0.0 City Developments Ltd. 43,900 402,090 294,818 0.0 UOL Group Ltd. 43,800 324,259 294,550 0.0 Wallenstam AB Class B 14,899 225,406 292,096 0.0 Grand City Properties SA 8,723 274,034 291,806 0.0 Hysan Development Co. Ltd. 59,000 321,540 291,172 0.0 Japan Logistics Fund, Inc. 78 284,726 290,659 0.0 Nyfosa AB 17,348 162,272 290,625 0.0 ADLER Group SA 8,779 350,380 285,944 0.0 Great Portland Estates plc 22,997 299,869 279,116 0.0 Relo Group, Inc. 9,800 301,905 277,717 0.0 JM AB 6,400 236,968 274,205 0.0 Kungsleden AB 17,901 202,421 268,527 0.0 Mori Hills REIT Investment Corp. 142 247,318 263,940 0.0 AEON REIT Investment Corp. 140 228,601 256,942 0.0 Keppel DC REIT 111,260 221,377 255,212 0.0 Immofinanz AG 9,108 279,522 253,458 0.0 Shaftesbury plc 25,481 346,425 248,240 0.0 Suntec REIT 183,300 312,445 246,534 0.0 Hang Lung Group Ltd. 78,000 288,636 246,262 0.0 Precinct Properties New Zealand Ltd. 177,864 242,510 246,238 0.0 Nexity SA 3,941 247,199 244,111 0.0 Industrial Buildings Corp. Ltd. 66,740 224,497 239,677 0.0 Frontier Real Estate Investment Corp. 41 210,715 237,407 0.0 Savills plc 12,024 198,058 236,542 0.0 Daiwa Securities Living Investments Corp. 175 220,222 235,856 0.0 Kenedix Residential Next Investment Corp. 88 208,586 235,731 0.0 Mobimo Holding AG 572 207,038 232,948 0.0 Hammerson plc 357,944 518,808 227,966 0.0 Shopping Centres Australasia Property Group 97,020 230,903 227,291 0.0 Kerry Properties Ltd. 55,500 241,341 226,553 0.0 Hulic REIT, Inc. 107 200,180 223,357 0.0 Comforia Residential REIT, Inc. 57 213,021 222,579 0.0 Charter Hall Long Wale REIT 50,259 233,596 221,936 0.0 Frasers Centrepoint Trust 97,571 223,537 218,418 0.0 Hufvudstaden AB Class A 9,976 200,602 210,170 0.0 Aeon Mall Co. Ltd. 11,000 238,470 209,983 0.0 Invincible Investment Corp. 439 197,117 209,628 0.0 Keppel REIT 191,200 204,554 207,841 0.0 Goodman Property Trust 104,032 177,724 207,484 0.0 Daiwa Office Investment Corp. 24 195,451 206,982 0.0 NTT UD REIT Investment Corp. 113 185,480 206,885 0.0 Mapletree North Asia Commercial Trust 210,300 215,794 201,481 0.0

130 Vanguard FTSE Developed All Cap ex North America Index ETF

Description Number of Shares Cost ($) Fair Value ($) % of Net Assets Nippon REIT Investment Corp. 39 181,588 198,631 0.0 Japan Excellent, Inc. 111 179,605 196,660 0.0 Capital & Counties Properties plc 68,907 279,808 190,134 0.0 Waypoint REIT 75,785 185,373 184,589 0.0 Mitsubishi Estate Logistics REIT Investment Corp. 33 169,898 180,959 0.0 BWP Trust 45,498 164,524 180,187 0.0 Montea NV 1,229 149,324 179,035 0.0 Tokyu REIT, Inc. 78 157,828 178,311 0.0 VGP NV 722 117,450 176,427 0.0 Kenedix Retail REIT Corp. 52 159,525 174,337 0.0 Sirius Real Estate Ltd. 91,319 108,294 172,774 0.0 Workspace Group plc 11,942 197,120 170,374 0.0 Alony Hetz Properties & Investments Ltd. 9,856 156,811 170,045 0.0 Instone Real Estate Group AG 4,516 164,662 168,446 0.0 Pandox AB Class B 8,165 187,798 168,351 0.0 Catena AB 2,487 122,457 164,999 0.0 Mori Trust Sogo REIT, Inc. 94 157,437 164,758 0.0 Fortune REIT 121,000 168,650 160,526 0.0 Charter Hall Retail REIT 44,344 170,204 156,653 0.0 Ingenia Communities Group 27,009 107,473 154,169 0.0 Parkway Life REIT 35,700 117,049 150,953 0.0 Hoshino Resorts REIT, Inc. 20 142,025 150,618 0.0 St. Modwen Properties plc 15,781 109,187 150,366 0.0 S IMMO AG 5,017 135,962 148,823 0.0 Kiwi Property Group Ltd. 147,411 173,830 148,595 0.0 Ascott Residence Trust 160,085 185,468 147,473 0.0 Heiwa Real Estate REIT, Inc. 75 127,899 146,434 0.0 Deutsche EuroShop AG 4,918 192,208 144,442 0.0 Centuria Industrial REIT 40,496 122,995 140,048 0.0 Big Shopping Centers Ltd. 866 113,220 137,234 0.0 Manulife U.S. REIT 140,002 155,050 136,958 0.0 Shurgard Self Storage SA 2,273 134,992 135,853 0.0 Heiwa Real Estate Co. Ltd. 2,900 88,986 135,567 0.0 Airport City Ltd. 6,430 131,119 133,564 0.0 Fukuoka REIT Corp. 64 122,259 133,525 0.0 Eurocommercial Properties NV GDR 4,300 165,220 132,479 0.0 PATRIZIA AG 4,067 121,302 131,393 0.0 Melisron Ltd. 1,540 109,987 130,507 0.0 Invesco Office J-REIT, Inc. 507 96,270 128,347 0.0 Xior Student Housing NV 1,714 137,868 127,864 0.0 Global One Real Estate Investment Corp. 91 124,662 127,112 0.0 Lifestyle Communities Ltd. 8,607 91,782 124,904 0.0 Champion REIT 177,000 145,170 123,336 0.0 CapitaLand China Trust 96,677 135,400 122,013 0.0 Atrium Ljungberg AB Class B 4,251 100,346 119,965 0.0 Abacus Property Group 40,964 127,445 119,959 0.0 Aventus Group 39,803 100,460 116,559 0.0 Ichigo Office REIT Investment Corp. 104 108,706 114,639 0.0 Cromwell European REIT 31,120 103,779 113,792 0.0 Amot Investments Ltd. 13,930 109,548 113,179 0.0 Reit 1 Ltd. 17,205 103,863 112,589 0.0 Lotte REIT Co. Ltd. 16,872 105,992 110,571 0.0 Star Asia Investment Corp. 156 96,165 108,257 0.0 Hibernia REIT plc 59,073 117,719 107,568 0.0 Hankyu Hanshin REIT, Inc. 59 98,321 105,913 0.0 Argosy Property Ltd. 78,173 96,579 105,519 0.0 Gav-Yam Lands Corp. Ltd. 8,719 76,467 103,411 0.0 Befimmo SA 2,065 144,714 101,587 0.0 Adapteo Oyj 4,208 68,217 99,924 0.0 Dios Fastigheter AB 7,756 74,445 99,556 0.0 Platzer Fastigheter Holding AB 5,245 86,114 98,576 0.0 Cromwell Property Group 117,234 119,073 95,364 0.0 SOSiLA Logistics REIT, Inc. 54 88,712 94,949 0.0 Growthpoint Properties Australia Ltd. 25,069 90,640 94,853 0.0 UK Commercial Property REIT Ltd. 72,081 102,988 94,329 0.0 Intershop Holding AG 115 87,822 93,668 0.0 Ascendas India Trust 71,700 90,942 91,811 0.0 DIC Asset AG 4,262 82,498 91,190 0.0 Vital Healthcare Property Trust 33,999 75,354 91,049 0.0 Itochu Advance Logistics Investment Corp. 51 84,318 90,130 0.0 Arena REIT 26,878 67,366 89,954 0.0 Cache Logistics Trust 115,312 81,546 88,700 0.0 ESR REIT 230,877 109,255 87,202 0.0 Charter Hall Social Infrastructure REIT 26,828 84,287 86,794 0.0

131 Vanguard FTSE Developed All Cap ex North America Index ETF

Description Number of Shares Cost ($) Fair Value ($) % of Net Assets Mercialys SA 5,763 99,304 86,407 0.0 Retail Estates NV 852 97,560 85,705 0.0 Centuria Office REIT 39,026 93,271 84,897 0.0 CDL Hospitality Trusts 73,788 98,885 83,609 0.0 AFI Properties Ltd. 1,559 68,344 83,595 0.0 Rural Funds Group 33,576 71,527 82,717 0.0 Starts Corp, Inc. 2,600 78,741 82,469 0.0 CRE Logistics REIT, Inc. 39 75,603 81,585 0.0 One REIT, Inc. 22 69,597 79,403 0.0 Mirai Corp. 134 72,420 77,591 0.0 SAMTY Co. Ltd. 3,250 68,402 77,270 0.0 Citycon Oyj 7,206 92,963 76,032 0.0 K Wah International Holdings Ltd. 126,000 81,716 75,744 0.0 Keppel Pacific Oak U.S. REIT 77,900 59,933 75,724 0.0 Summit Real Estate Holdings Ltd. 3,992 72,711 74,532 0.0 Sunlight REIT 104,000 88,863 74,459 0.0 Wereldhave NV 3,521 131,746 74,301 0.0 Helical plc 9,950 64,484 74,041 0.0 AIMS APAC REIT 54,600 69,742 73,939 0.0 BMO Commercial Property Trust 46,483 91,239 72,042 0.0 NSI NV 1,490 87,438 71,222 0.0 Daibiru Corp. 4,500 64,997 70,389 0.0 Neinor Homes SA 4,134 86,975 68,964 0.0 Vastned Retail NV 1,893 81,205 68,663 0.0 Lendlease Global Commercial REIT 90,700 66,081 68,515 0.0 Ichigo, Inc. 17,400 78,470 68,334 0.0 OUE Commercial REIT 180,875 86,889 67,483 0.0 Picton Property Income Ltd. 45,341 68,731 67,479 0.0 Samhallsbyggnadsbolaget i Norden AB Series D 15,884 74,606 67,019 0.0 Takara Leben Real Estate Investment Corp. 45 53,317 62,406 0.0 CLS Holdings plc 14,789 60,363 60,844 0.0 APN Industria REIT 19,662 57,784 60,686 0.0 Sella Capital Real Estate Ltd. 18,329 53,149 59,903 0.0 Shui On Land Ltd. 298,000 76,158 59,872 0.0 Prime U.S. REIT 55,400 60,250 59,341 0.0 Wing Tai Holdings Ltd. 35,600 66,643 59,032 0.0 Carmila SA 3,449 94,237 58,550 0.0 Starhill Global REIT 111,800 66,424 57,676 0.0 Aedas Homes SAU 1,614 65,285 55,225 0.0 Starts Proceed Investment Corp. 20 51,405 53,999 0.0 HomeCo Daily Needs REIT 40,477 53,249 52,681 0.0 Gazit-Globe Ltd. 5,824 70,686 52,033 0.0 Hotel Property Investments 17,186 51,940 50,967 0.0 Far East Hospitality Trust 94,400 57,468 50,438 0.0 GDI Property Group 47,975 56,385 49,952 0.0 ESR Kendall Square REIT Co. Ltd. 5,908 49,077 48,983 0.0 Far East Consortium International Ltd. 104,000 60,923 48,589 0.0 Nippon Kanzai Co. Ltd. 1,700 43,010 47,265 0.0 JR REIT XXVII 8,245 49,802 46,781 0.0 Prosperity REIT 97,000 49,584 45,937 0.0 Samty Residential Investment Corp. 32 43,280 45,163 0.0 Road King Infrastructure Ltd. 28,000 69,031 43,129 0.0 Immobiliare Grande Distribuzione SIIQ SPA 6,934 52,280 41,341 0.0 Keihanshin Building Co. Ltd. 2,700 41,111 41,028 0.0 Tama Home Co. Ltd. 1,600 33,076 40,968 0.0 Hiag Immobilien Holding AG 296 46,399 40,447 0.0 Leopalace21 Corp. 25,100 97,001 38,925 0.0 Sabana Shari'ah Compliant Industrial REIT 98,000 43,509 38,369 0.0 Korea REIT Co. Ltd. 13,621 32,192 35,347 0.0 Metrovacesa SA 3,586 55,975 35,072 0.0 Mori Trust Hotel REIT, Inc. 22 32,691 34,535 0.0 SPH REIT 42,500 44,287 34,062 0.0 Lar Espana Real Estate Socimi SA 4,636 56,465 33,393 0.0 ES-Con Japan Ltd. 3,800 33,781 32,433 0.0 Cosmopolitan International Holdings Ltd. 120,000 35,698 29,276 0.0 Frasers Hospitality Trust 56,300 37,974 26,710 0.0 Seobu T&D 2,661 25,951 25,602 0.0 Cedar Woods Properties Ltd. 4,088 28,531 25,501 0.0 LIFULL Co. Ltd. 6,400 44,886 25,277 0.0 TLG Immobilien AG 614 23,184 25,156 0.0 Lippo Malls Indonesia Retail Trust 414,180 53,482 24,038 0.0 Chinese Estates Holdings Ltd. 41,500 48,536 23,955 0.0 TOC Co. Ltd. 3,000 31,832 22,827 0.0 Korea Asset In Trust Co. Ltd. ADR 4,301 24,156 22,677 0.0

132 Vanguard FTSE Developed All Cap ex North America Index ETF

Description Number of Shares Cost ($) Fair Value ($) % of Net Assets Hoosiers Holdings 2,800 22,285 22,305 0.0 Pressance Corp. 1,300 23,058 21,669 0.0 Tosei Corp. 1,800 25,557 21,548 0.0 Sun Frontier Fudousan Co. Ltd. 1,800 27,535 21,006 0.0 Wereldhave Belgium Comm VA 283 37,308 20,260 0.0 Goldcrest Co. Ltd. 1,000 26,966 18,543 0.0 Brack Capital Properties NV 137 18,009 18,107 0.0 Takara Leben Co. Ltd. 4,800 26,065 17,994 0.0 First REIT 73,656 45,910 17,981 0.0 Sanei Architecture Planning Co. Ltd. 800 18,792 17,824 0.0 Airport Facilities Co. Ltd. 2,400 17,493 15,798 0.0 Corestate Capital Holding SA 746 46,644 12,050 0.0 Sagax AB Class D 1,862 9,586 8,964 0.0 Suncity Group Holdings Ltd. 140,000 34,040 8,706 0.0 Eagle Hospitality Trust Unit 45,700 33,337 7,753 0.0 Glory Sun Land Group Ltd. 135,000 18,916 5,597 0.0 Tokyo Rakutenchi Co. Ltd. 100 6,306 4,630 0.0 Intu Properties plc 59,040 146,587 1,794 0.0 Annehem Fastigheter AB Class B 291 1,537 1,374 0.0 100,096,227 102,460,512 4.2 Technology Samsung Electronics Co. Ltd. 435,739 27,960,733 38,666,031 1.6 ASML Holding NV 36,745 15,148,028 31,264,458 1.3 SAP SE 102,874 16,446,622 17,953,223 0.8 Tokyo Electron Ltd. 13,800 4,281,559 7,402,622 0.3 SK Hynix, Inc. 48,092 4,912,427 6,742,371 0.3 Nidec Corp. 43,200 4,556,971 6,205,446 0.3 Samsung Electronics Co. Ltd. Pfd. 76,434 4,286,314 6,194,178 0.3 Infineon Technologies AG 121,482 4,175,027 6,033,366 0.3 NAVER Corp. 12,419 2,997,502 5,701,285 0.3 Murata Manufacturing Co. Ltd. 53,300 4,178,529 5,043,912 0.2 Prosus NV 39,951 4,432,188 4,838,356 0.2 Kakao Corp. 25,600 1,531,248 4,588,357 0.2 Fujitsu Ltd. 17,600 2,202,985 4,084,304 0.2 Dassault Systemes SE 12,288 2,470,600 3,690,190 0.2 Samsung SDI Co. Ltd. 4,628 1,696,447 3,552,045 0.2 Capgemini SE 14,679 2,420,856 3,492,092 0.2 Amadeus IT Group SA 39,594 3,539,202 3,449,091 0.2 Hexagon AB Class B 169,179 1,966,837 3,106,106 0.1 FUJIFILM Holdings Corp. 33,000 2,068,427 3,033,405 0.1 STMicroelectronics NV 58,190 1,868,358 2,615,260 0.1 Canon, Inc. 92,700 3,264,291 2,599,048 0.1 Kyocera Corp. 28,400 2,246,115 2,176,159 0.1 Logitech International SA 13,689 1,024,009 2,055,733 0.1 Advantest Corp. 18,300 1,092,965 2,043,747 0.1 ASM International NV 4,446 769,532 1,808,520 0.1 Just Eat Takeaway 14,896 1,687,770 1,705,245 0.1 Omron Corp. 17,300 1,371,755 1,700,451 0.1 Lasertec Corp. 7,000 543,821 1,686,136 0.1 TDK Corp. 11,200 1,492,476 1,685,668 0.1 NEC Corp. 24,200 1,277,350 1,544,377 0.1 Z Holdings Corp. 245,200 1,295,503 1,523,217 0.1 Xero Ltd. 11,622 993,184 1,481,289 0.1 Obic Co. Ltd. 6,400 1,037,567 1,478,775 0.1 Renesas Electronics Corp. 92,168 1,086,599 1,234,995 0.1 Sage Group plc 100,132 1,141,479 1,171,972 0.1 NTT Data Corp. 58,500 949,333 1,131,088 0.1 Temenos AG 5,572 957,624 1,109,224 0.1 Samsung Electro-Mechanics Co. Ltd. 5,508 820,685 1,072,005 0.1 Auto Trader Group plc 97,417 873,446 1,055,538 0.1 Rakuten Group, Inc. 75,100 967,109 1,050,702 0.1 Lenovo Group Ltd. 708,000 808,402 1,008,142 0.1 Nomura Research Institute Ltd. 24,200 663,277 992,235 0.1 Sinch AB 47,007 735,074 980,112 0.1 CyberAgent, Inc. 35,800 544,778 952,606 0.1 SK Holdings Co. Ltd. 2,832 833,250 879,714 0.1 Rohm Co. Ltd. 7,500 804,840 859,357 0.1 Ricoh Co. Ltd. 61,400 757,284 854,234 0.1 Scout24 AG 7,814 611,655 816,092 0.1 BE Semiconductor Industries NV 7,414 464,048 778,889 0.1 TeamViewer AG 14,900 829,330 694,055 0.0 Trend Micro, Inc. 10,600 699,912 688,289 0.0 Taiyo Yuden Co. Ltd. 11,200 423,713 686,013 0.0

133 Vanguard FTSE Developed All Cap ex North America Index ETF

Description Number of Shares Cost ($) Fair Value ($) % of Net Assets AVEVA Group plc 10,745 548,408 681,565 0.0 TIS, Inc. 21,300 479,420 674,188 0.0 Atos SE 8,940 1,057,226 673,487 0.0 Bechtle AG 2,907 518,958 668,728 0.0 Ibiden Co. Ltd. 9,900 333,400 661,613 0.0 Dialog Semiconductor plc 6,655 408,455 640,710 0.0 SUMCO Corp. 20,900 502,264 635,411 0.0 Otsuka Corp. 9,300 482,865 604,914 0.0 Samsung SDS Co. Ltd. 2,898 644,911 589,522 0.0 BayCurrent Consulting, Inc. 1,300 177,315 578,706 0.0 AAC Technologies Holdings, Inc. 61,500 689,155 569,755 0.0 SimCorp A/S 3,639 448,752 565,702 0.0 ams AG 22,414 641,808 557,297 0.0 Seiko Epson Corp. 25,400 545,505 553,733 0.0 LG Display Co. Ltd. 20,495 479,303 552,133 0.0 Hirose Electric Co. Ltd. 3,035 500,265 550,242 0.0 Brother Industries Ltd. 22,200 567,858 549,112 0.0 SOITEC 1,924 304,762 525,241 0.0 Schibsted ASA Class A 8,742 414,289 522,819 0.0 United Internet AG 9,938 571,394 503,200 0.0 Nemetschek SE 5,127 353,482 485,771 0.0 Siltronic AG 2,326 371,560 481,326 0.0 ASM Pacific Technology Ltd. 28,107 454,772 471,484 0.0 NEXTDC Ltd. 41,269 339,049 455,019 0.0 Nordic Semiconductor ASA 14,071 183,891 441,819 0.0 Kakaku.com, Inc. 11,800 352,685 441,689 0.0 SCREEN Holdings Co. Ltd. 3,600 318,615 441,008 0.0 Avast plc 52,041 337,795 436,039 0.0 Alten SA 2,605 343,094 427,685 0.0 Netcompany Group A/S 3,008 234,130 423,236 0.0 Reply SPA 2,063 223,510 419,891 0.0 Koei Tecmo Holdings Co. Ltd. 6,906 195,088 417,607 0.0 Sharp Corp. 17,700 397,929 361,974 0.0 Tower Semiconductor Ltd. 9,763 306,833 356,991 0.0 Schibsted ASA Class B 6,806 230,143 351,210 0.0 Softcat plc 11,439 213,584 347,530 0.0 Altium Ltd. 10,106 260,349 344,706 0.0 Itochu Techno-Solutions Corp. 8,900 289,006 341,578 0.0 Nova Measuring Instruments Ltd. 2,548 160,255 324,088 0.0 Aixtron AG 9,584 167,718 321,593 0.0 TietoEVRY Oyj 8,006 319,543 313,202 0.0 NET One Systems Co. Ltd. 7,600 231,432 310,763 0.0 LG Innotek Co. Ltd. 1,252 221,657 307,000 0.0 Sopra Steria Group SACA 1,287 244,880 306,552 0.0 TechnoPro Holdings, Inc. 9,900 272,046 290,270 0.0 SCSK Corp. 3,900 250,509 288,048 0.0 Shinko Electric Industries Co. Ltd. 6,300 115,088 285,722 0.0 Oracle Corp. Japan 3,000 338,217 284,500 0.0 Konica Minolta Holdings, Inc. 41,500 385,799 284,288 0.0 Justsystems Corp. 3,800 208,792 277,270 0.0 Computacenter plc 6,279 166,039 276,263 0.0 Softwareone Holding AG 9,171 305,381 268,446 0.0 Software AG 4,632 242,077 258,072 0.0 Ascential plc 36,249 236,017 257,959 0.0 Samsung SDI Co. Ltd. Pfd. 521 253,143 250,637 0.0 CANCOM SE 3,324 221,947 248,946 0.0 QT Group Oyj 1,690 224,762 244,950 0.0 Alps Alpine Co. Ltd. 18,512 455,353 242,267 0.0 Mycronic AB 6,298 154,751 235,456 0.0 WiseTech Global Ltd. 7,877 173,353 233,820 0.0 Melexis NV 1,792 211,185 230,393 0.0 Pro Medicus Ltd. 4,154 124,269 226,764 0.0 Comet Holding AG 656 121,535 223,656 0.0 Nihon Unisys Ltd. 6,000 216,329 223,584 0.0 DeNA Co. Ltd. 8,300 206,094 218,633 0.0 DB HiTek Co. Ltd. 3,182 109,522 218,331 0.0 Barco NV 6,336 199,147 214,746 0.0 Megaport Ltd. 12,292 98,694 210,605 0.0 Micro Focus International plc 22,333 593,059 208,976 0.0 Moneysupermarket.com Group plc 46,676 255,637 204,886 0.0 Takeaway.com NV 1,769 182,469 202,289 0.0 Tokyo Seimitsu Co. Ltd. 3,500 169,177 196,417 0.0 Infomart Corp. 19,100 174,192 194,131 0.0 SHIFT, Inc. 1,000 177,769 192,010 0.0

134 Vanguard FTSE Developed All Cap ex North America Index ETF

Description Number of Shares Cost ($) Fair Value ($) % of Net Assets Internet Initiative Japan, Inc. 4,900 97,045 188,607 0.0 Atea ASA 7,576 138,955 182,499 0.0 GMO Internet, Inc. 5,200 127,939 175,788 0.0 Wonik IPS Co. Ltd. 3,183 130,429 173,599 0.0 NSD Co. Ltd. 8,300 149,612 171,869 0.0 Vobile Group Ltd. 29,000 128,375 162,309 0.0 Digital Garage, Inc. 2,900 131,815 161,613 0.0 Jenoptik AG 4,685 185,227 158,651 0.0 L&F Co. Ltd. 1,569 61,868 158,206 0.0 LEENO Industrial, Inc. 802 85,028 154,768 0.0 Systena Corp. 6,500 114,454 154,394 0.0 Douzone Bizon Co. Ltd. 1,676 130,263 152,961 0.0 Bytes Technology Group plc 19,154 124,349 151,706 0.0 Inaba Denki Sangyo Co. Ltd. 5,000 147,607 144,258 0.0 Mitsui High-Tec, Inc. 2,000 58,213 142,585 0.0 Asseco Poland SA 5,246 96,502 131,646 0.0 Appen Ltd. 10,377 193,340 131,199 0.0 NCC Group plc 26,019 103,987 130,858 0.0 Hyundai Bioscience Co. Ltd. 3,187 90,281 127,034 0.0 Sesa SPA 602 103,679 124,649 0.0 AT&S Austria Technologie & Systemtechnik AG 2,321 96,554 124,406 0.0 LS Corp. 1,595 122,530 124,172 0.0 Dexerials Corp. 4,700 69,420 122,913 0.0 Kainos Group plc 4,818 64,339 121,568 0.0 Mixi, Inc. 3,700 125,613 120,952 0.0 S&T AG 4,237 134,873 120,085 0.0 Macnica Fuji Electronics Holdings, Inc. 4,000 88,356 119,200 0.0 Canon Marketing Japan, Inc. 4,100 118,768 118,155 0.0 Technology One Ltd. 13,626 94,173 117,934 0.0 Information Services International-Dentsu Ltd. ADR 2,300 66,217 117,526 0.0 Indra Sistemas SA Series A 10,347 146,266 116,922 0.0 Razer, Inc. 339,000 110,220 114,056 0.0 Iriso Electronics Co. Ltd. 1,900 120,314 113,621 0.0 Vitec Software Group AB Class B 2,213 121,135 113,432 0.0 Iljin Materials Co. Ltd. 1,413 71,121 113,421 0.0 Fuji Soft, Inc. 1,800 96,269 111,859 0.0 Sanken Electric Co. Ltd. 1,800 67,874 111,055 0.0 Quadient 2,962 99,981 110,221 0.0 Wacom Co. Ltd. 13,800 96,356 108,699 0.0 NS Solutions Corp. 2,700 99,060 107,842 0.0 Eizo Corp. 1,900 94,297 105,248 0.0 Eo Technics Co. Ltd. 799 85,455 104,550 0.0 Computer Engineering & Consulting Ltd. 5,900 115,410 104,333 0.0 Silicon Works Co. Ltd. 777 33,538 103,893 0.0 New Work SE 264 98,527 102,736 0.0 Crayon Group Holding ASA 5,647 109,206 102,308 0.0 Domain Holdings Australia Ltd. 21,129 83,552 101,356 0.0 DTS Corp. 3,400 92,368 100,334 0.0 Atoss Software AG 365 87,314 99,911 0.0 Change, Inc. 2,900 80,827 96,579 0.0 Japan Aviation Electronics Industry Ltd. 4,300 81,489 94,174 0.0 ALSO Holding AG 250 55,481 89,254 0.0 Transcosmos, Inc. 2,600 86,040 89,054 0.0 Elecom Co. Ltd. 3,800 84,815 88,269 0.0 Hansen Technologies Ltd. 14,950 63,751 86,309 0.0 OBIC Business Consultants Co. Ltd. 1,200 70,850 85,952 0.0 Matrix IT Ltd. 2,565 59,176 85,895 0.0 Digital Arts, Inc. 900 68,643 84,948 0.0 AfreecaTV Co. Ltd. 628 48,147 82,174 0.0 Ai Holdings Corp. 3,300 74,608 80,631 0.0 Hanmi Semiconductor Co. Ltd. 2,163 65,399 80,509 0.0 Asiainfo Technologies Ltd. 37,200 78,786 78,299 0.0 Oki Electric Industry Co. Ltd. 6,800 103,697 77,232 0.0 Bravura Solutions Ltd. 23,535 66,366 76,797 0.0 GemVax & Kael Co. Ltd. 3,257 67,373 76,283 0.0 Allot Ltd. 3,135 52,487 76,128 0.0 Secunet Security Networks AG 136 60,631 74,894 0.0 Tokai Carbon Korea Co. Ltd. 335 45,970 74,262 0.0 AEM Holdings Ltd. 21,000 72,924 74,094 0.0 SUNeVision Holdings Ltd. 58,000 66,323 73,524 0.0 Sapiens International Corp. NV 2,186 67,722 72,606 0.0 Tamura Corp. 7,800 64,327 72,491 0.0 Formula Systems 1985 Ltd. 643 56,117 71,473 0.0 Nichicon Corp. 5,300 71,870 70,662 0.0

135 Vanguard FTSE Developed All Cap ex North America Index ETF

Description Number of Shares Cost ($) Fair Value ($) % of Net Assets Sato Holdings Corp. 2,300 68,332 69,900 0.0 Data#3 Ltd. 13,109 41,222 68,368 0.0 Micro Focus International plc ADR 7,306 157,741 68,124 0.0 MCJ Co. Ltd. 4,900 49,251 67,734 0.0 Hilan Ltd. 1,132 54,750 67,625 0.0 Duk San Neolux Co. Ltd. 1,071 49,011 67,126 0.0 Daou Technology, Inc. 2,044 52,006 64,055 0.0 VSTECS Holdings Ltd. 64,000 58,863 63,986 0.0 Megachips Corp. 1,800 54,911 63,962 0.0 u-blox Holding AG 691 90,369 62,947 0.0 SRA Holdings 2,100 62,936 62,510 0.0 NEPES Corp. 1,325 41,978 61,775 0.0 Infocom Corp. 1,800 61,380 61,552 0.0 TomTom NV 5,928 99,468 61,503 0.0 Seoul Semiconductor Co. Ltd. 2,818 54,954 58,874 0.0 Micronics Japan Co. Ltd. 3,400 49,929 58,417 0.0 Solutions 30 SE 6,622 103,775 56,693 0.0 Koa Corp. 2,900 54,904 56,071 0.0 Argo Graphics, Inc. 1,500 45,093 55,812 0.0 Eugene Technology Co. Ltd. 1,119 42,546 55,739 0.0 Comture Corp. 2,100 54,714 55,551 0.0 Hosiden Corp. 4,900 69,324 54,395 0.0 Jusung Engineering Co. Ltd. 3,185 31,957 54,284 0.0 IDEC Corp. 2,300 49,782 53,913 0.0 Gree, Inc. 8,200 58,771 53,794 0.0 V Technology Co. Ltd. 900 75,085 53,620 0.0 Optim Corp. 2,100 52,609 53,208 0.0 Kaga Electronics Co. Ltd. 1,600 45,903 53,160 0.0 X-Fab Silicon Foundries SE 4,480 36,254 52,631 0.0 Restar Holdings Corp. 2,500 61,445 52,605 0.0 Hyundai Autoever Corp. 345 48,343 51,403 0.0 TechMatrix Corp. 2,500 39,043 51,349 0.0 S&S Tech Corp. 1,416 65,923 50,759 0.0 Ryosan Co. Ltd. 2,200 62,850 49,557 0.0 F-Secure Oyj 8,382 41,202 49,544 0.0 Riso Kagaku Corp. 2,500 52,880 49,536 0.0 SFA Semicon Co. Ltd. 5,990 24,318 49,399 0.0 Towa Corp. 1,900 29,386 48,353 0.0 Kanematsu Electronics Ltd. 1,200 51,083 48,064 0.0 Cybozu, Inc. 1,800 22,957 47,374 0.0 Sindoh Co. Ltd. 1,235 43,345 46,647 0.0 Posco ICT Co. Ltd. 4,930 34,856 46,403 0.0 Econocom Group SA 9,695 58,483 45,559 0.0 Daeduck Electronics Co. Ltd. 2,541 31,563 45,403 0.0 Sanshin Electronics Co. Ltd. 1,800 37,734 43,398 0.0 Glory Sun Financial Group Ltd. 1,288,000 73,741 42,924 0.0 Partron Co. Ltd. 3,722 54,880 42,564 0.0 COLOPL, Inc. 4,600 57,994 42,443 0.0 Funding Circle Holdings plc 16,419 62,009 42,412 0.0 Innox Advanced Materials Co. Ltd. 585 36,824 42,133 0.0 Melco Holdings, Inc. 700 27,612 41,392 0.0 V-Cube, Inc. 1,500 46,625 41,252 0.0 Enigmo, Inc. 2,600 48,600 41,162 0.0 Daea TI Co. Ltd. 5,811 40,302 40,319 0.0 Canon Electronics, Inc. 2,100 42,522 40,205 0.0 Hancom, Inc. 1,511 29,363 40,125 0.0 AhnLab, Inc. 508 43,490 40,107 0.0 Advanced Process Systems Corp. 1,148 35,215 40,079 0.0 BH Co. Ltd. 1,758 46,521 39,918 0.0 Siix Corp. 2,500 53,478 39,635 0.0 Truly International Holdings Ltd. 112,000 29,084 39,111 0.0 Poletowin Pitcrew Holdings, Inc. 3,200 41,318 38,915 0.0 Zenrin Co. Ltd. 3,050 67,010 38,758 0.0 Shinsung E&G Co. Ltd. 12,183 46,324 38,648 0.0 Base Co. Ltd. 600 43,529 38,223 0.0 Zuken, Inc. 1,100 27,690 38,168 0.0 Ryoyo Electro Corp. 1,300 29,339 37,681 0.0 Pharmagest Interactive 275 29,462 37,517 0.0 Vista Group International Ltd. 18,022 19,194 37,269 0.0 Audinate Group Ltd. 4,912 34,623 37,125 0.0 Shindengen Electric Manufacturing Co. Ltd. 700 33,571 36,784 0.0 Dicker Data Ltd. 3,572 35,735 36,727 0.0 Istyle, Inc. 6,300 45,172 36,550 0.0 Fineos Corp. Ltd. CDI 10,075 43,340 36,528 0.0

136 Vanguard FTSE Developed All Cap ex North America Index ETF

Description Number of Shares Cost ($) Fair Value ($) % of Net Assets RS Technologies Co. Ltd. 500 30,682 36,483 0.0 TES Co. Ltd. 1,036 31,853 35,884 0.0 Tesna, Inc. 707 38,923 35,800 0.0 Nuix Ltd. 17,332 43,442 35,609 0.0 Cafe24 Corp. 1,036 58,354 34,232 0.0 EM Systems Co. Ltd. 3,500 38,861 33,855 0.0 Mimasu Semiconductor Industry Co. Ltd. 1,100 27,827 33,639 0.0 SIMMTECH Co. Ltd. 1,254 32,065 33,438 0.0 Broadleaf Co. Ltd. 5,600 37,777 32,301 0.0 KC Tech Co. Ltd. 955 32,383 30,821 0.0 Wonik Holdings Co. Ltd. 4,136 31,560 30,744 0.0 Tokyo Electron Device Ltd. 500 17,302 30,514 0.0 RPA Holdings, Inc. 3,500 44,752 29,638 0.0 UniTest, Inc. 1,167 30,030 29,065 0.0 Enplas Corp. 700 30,525 28,857 0.0 Sourcenext Corp. 8,100 39,988 28,738 0.0 I'll, Inc. 1,800 26,109 28,617 0.0 FIT Hon Teng Ltd. 83,000 51,270 28,190 0.0 Cosel Co. Ltd. 2,400 39,855 28,142 0.0 Fukui Computer Holdings, Inc. 600 26,096 28,115 0.0 I-PEX, Inc. 1,000 24,930 27,435 0.0 SB Technology Corp. 800 20,493 27,357 0.0 BrainPad, Inc. 500 35,587 27,334 0.0 KH Vatec Co. Ltd. 1,130 25,302 27,211 0.0 Future Corp. 1,200 24,571 26,937 0.0 Roland DG Corp. 900 23,479 26,770 0.0 Miroku Jyoho Service Co. Ltd. 1,500 39,967 26,693 0.0 STCUBE 2,563 46,662 25,336 0.0 Grace Technology, Inc. 1,400 41,883 25,101 0.0 ITM Semiconductor Co. Ltd. 458 35,258 25,029 0.0 Elematec Corp. 1,700 25,527 24,827 0.0 Sam Young Electronics Co. Ltd. 1,568 15,367 24,224 0.0 Alpha Systems, Inc. 600 26,035 23,898 0.0 Chiyoda Integre Co. Ltd. 1,200 27,823 23,831 0.0 Hansol Technics Co. Ltd. 2,360 27,556 23,719 0.0 Ryoden Corp. 1,300 25,112 23,569 0.0 Hakuto Co. Ltd. 1,400 25,019 23,508 0.0 Green Cross Cell Corp. 515 26,758 23,246 0.0 Shinko Shoji Co. Ltd. 2,600 29,050 22,539 0.0 ICD Co. Ltd. 1,296 22,589 22,445 0.0 Oro Co. Ltd. 500 21,676 22,035 0.0 Mitsubishi Research Institute, Inc. 500 24,280 22,007 0.0 Ines Corp. 1,400 26,343 21,618 0.0 Sumida Corp. 1,600 27,459 21,564 0.0 Fixstars Corp. 2,220 30,929 21,474 0.0 F@N Communications, Inc. 4,800 29,741 21,207 0.0 GMO GlobalSign Holdings KK 400 45,182 20,997 0.0 Toa Corp. 2,100 26,757 20,899 0.0 Tachibana Eletech Co. Ltd. 1,300 31,195 20,871 0.0 Ateam, Inc. 1,200 27,097 20,310 0.0 Ubicom Holdings, Inc. 500 19,040 20,250 0.0 CAC Holdings Corp. 1,300 20,751 20,088 0.0 FDK Corp. 1,500 31,742 19,697 0.0 Toptec Co. Ltd. 1,383 41,126 19,313 0.0 Japan Display, Inc. 45,300 71,624 19,205 0.0 ZIGExN Co. Ltd. 4,000 28,277 18,654 0.0 TerraSky Co. Ltd. 600 23,935 17,934 0.0 KLab, Inc. 2,300 25,566 17,834 0.0 Daeduck Co. Ltd. 1,887 16,293 17,658 0.0 CMK Corp. 3,600 31,249 17,311 0.0 Alfa Financial Software Holdings plc 7,548 30,043 16,721 0.0 SMK Corp. 600 23,112 16,501 0.0 Kanamic Network Co. Ltd. 2,000 20,582 14,660 0.0 Silverlake Axis Ltd. 66,500 28,944 14,396 0.0 Curocom Co. Ltd. 9,381 28,153 14,390 0.0 Ebase Co. Ltd. 1,300 23,143 12,343 0.0 Heroz, Inc. 400 19,446 9,756 0.0 Gunosy, Inc. 900 26,081 9,619 0.0 NEC Capital Solutions Ltd. 400 9,780 9,613 0.0 Interflex Co. Ltd. 420 8,391 6,535 0.0 L&F Co. Ltd. Rights Exp. 07/20/2021 343 0 5,771 0.0 Yuyang DNU Co. Ltd. 3,002 20,446 4,027 0.0 COOKPAD, Inc. 1,000 10,815 2,800 0.0

137 Vanguard FTSE Developed All Cap ex North America Index ETF

Description Number of Shares Cost ($) Fair Value ($) % of Net Assets Robot Home, Inc. 700 12,348 1,913 0.0 182,878,558 251,215,317 10.3 Telecommunications SoftBank Group Corp. 126,200 8,579,877 10,947,168 0.5 Deutsche Telekom AG 299,041 6,802,865 7,821,996 0.3 KDDI Corp. 156,400 5,668,456 6,046,193 0.3 Vodafone Group plc 2,612,900 7,179,554 5,423,603 0.2 Cellnex Telecom SA 56,601 3,438,811 4,465,132 0.2 Telefonaktiebolaget LM Ericsson Class B 269,813 3,294,774 4,202,079 0.2 Softbank Corp. 253,539 4,224,153 4,111,515 0.2 Nippon Telegraph & Telephone Corp. 112,700 3,516,034 3,639,481 0.2 Nokia Oyj 520,023 3,242,053 3,448,280 0.2 BT Group plc 820,740 2,955,996 2,723,757 0.1 Telefonica SA 469,696 4,223,219 2,718,300 0.1 Orange SA 178,872 3,425,260 2,525,607 0.1 Nice Ltd. 6,167 1,270,832 1,865,968 0.1 Swisscom AG 2,393 1,578,951 1,693,287 0.1 Singapore Telecommunications Ltd. 704,270 2,042,701 1,482,758 0.0 Telstra Corp. Ltd. 386,330 1,312,848 1,350,416 0.1 Telia Co. AB 236,532 1,344,714 1,300,755 0.1 Telenor ASA 58,210 1,385,214 1,215,430 0.1 Koninklijke KPN NV 309,512 1,255,083 1,197,202 0.1 Elisa Oyj Series A 14,091 920,094 1,041,254 0.1 Tele2 AB Class B 49,017 825,218 827,553 0.0 SK Telecom Co. Ltd. 2,030 561,570 714,292 0.0 Spark New Zealand Ltd. 167,712 617,953 696,551 0.0 Telecom Italia SPA 951,125 771,108 585,089 0.0 Infrastrutture Wireless Italiane SPA 31,775 405,669 443,845 0.0 Hikari Tsushin, Inc. 2,000 481,800 435,341 0.0 Telecom Italia SPA Savings Shares 605,705 491,561 397,419 0.0 LG Uplus Corp. 19,712 300,637 332,712 0.0 Freenet AG 11,366 378,541 332,484 0.0 SES SA FDR 34,920 656,416 330,346 0.0 Proximus SA 13,194 469,834 315,625 0.0 Anritsu Corp. 13,000 295,791 300,376 0.0 Iliad SA 1,423 306,150 257,866 0.0 Eutelsat Communications SA 17,286 395,209 250,139 0.0 NetLink NBN Trust 283,300 241,156 247,932 0.0 Bezeq - The Israeli Telecommunication Corp. Ltd. 181,599 256,800 244,991 0.0 PCCW Ltd. 367,309 277,226 238,376 0.0 Spirent Communications plc 55,350 207,428 233,302 0.0 Cyfrowy Polsat SA 23,925 216,704 232,995 0.0 Chorus Ltd. 41,000 207,366 227,045 0.0 Telefonaktiebolaget LM Ericsson Class A 14,038 186,690 218,710 0.0 VTech Holdings Ltd. 15,400 189,783 200,745 0.0 Telenet Group Holding NV 4,157 270,564 193,759 0.0 Telefonica Deutschland Holding AG 58,219 263,440 190,226 0.0 Uniti Group Ltd. 61,765 122,579 190,060 0.0 TPG Telecom Ltd. 32,095 243,416 186,781 0.0 Codan Ltd. 10,580 65,259 177,338 0.0 Huber + Suhner AG 1,619 156,942 169,390 0.0 1&1 AG 4,349 224,330 164,772 0.0 KMW Co. Ltd. 2,525 186,357 150,206 0.0 Euskaltel SA 8,652 113,294 139,506 0.0 Orange Polska SA 61,342 123,853 133,982 0.0 Telekom Austria AG Class A ADR 12,237 121,710 129,384 0.0 Telecom Plus plc 6,097 136,139 118,483 0.0 Airtel Africa plc 87,045 112,381 114,730 0.0 NEC Networks & System Integration Corp. 5,500 87,681 107,692 0.0 HKBN Ltd. 67,500 143,077 101,174 0.0 AudioCodes Ltd. 2,277 68,322 94,751 0.0 NOS SGPS SA 16,144 113,018 70,079 0.0 SKY Perfect JSAT Holdings, Inc. 15,200 79,067 68,682 0.0 RFHIC Corp. 1,516 74,986 66,179 0.0 StarHub Ltd. 56,300 94,722 63,275 0.0 CITIC Telecom International Holdings Ltd. 152,000 65,069 62,289 0.0 Ace Technologies Corp. 2,897 87,082 59,569 0.0 Ascom Holding AG 2,901 62,011 59,383 0.0 Orange Belgium SA 2,133 55,189 59,263 0.0 Cellcom Israel Ltd. 9,404 50,213 50,640 0.0 FIH Mobile Ltd. 246,000 59,179 50,209 0.0 Partner Communications Co. Ltd. 8,744 49,985 49,578 0.0 ARTERIA Networks Corp. 2,400 39,758 48,358 0.0

138 Vanguard FTSE Developed All Cap ex North America Index ETF

Description Number of Shares Cost ($) Fair Value ($) % of Net Assets T-Gaia Corp. 2,000 49,305 43,579 0.0 Superloop Ltd. 40,747 42,206 35,229 0.0 Gilat Satellite Networks Ltd. 2,627 27,166 32,885 0.0 Seojin System Co. Ltd. 692 34,517 32,871 0.0 Sangsangin Co. Ltd. 3,687 52,091 31,785 0.0 SmarTone Telecommunications Holdings Ltd. 41,500 47,536 30,440 0.0 SKY Network Television Ltd. 200,919 69,956 30,249 0.0 S-MAC Co. Ltd. 19,417 33,538 29,998 0.0 Solid, Inc. 3,512 34,342 29,079 0.0 INTOPS Co. Ltd. 842 23,168 28,424 0.0 OptoElectronics Solutions Co. Ltd. 524 21,557 25,813 0.0 Asian Pay Television Trust 225,275 35,451 24,073 0.0 Vision, Inc. 1,800 36,237 23,938 0.0 Hutchison Telecommunications Hong Kong Holdings Ltd. 98,000 52,830 23,909 0.0 Telcon RF Pharmaceutical, Inc. 4,515 54,989 22,738 0.0 Service Stream Ltd. 26,746 53,920 21,632 0.0 Icom, Inc. 800 27,566 21,377 0.0 Denki Kogyo Co. Ltd. 800 29,471 19,779 0.0 G-treeBNT Co. Ltd. 1,527 57,757 19,477 0.0 MTI Ltd. 1,900 17,648 14,330 0.0 Fibergate, Inc. 800 17,727 13,727 0.0 Homecast Co. Ltd. 654 11,971 2,571 0.0 RFHIC Corp. Rights Exp. 07/08/2021 111 0 1,208 0.0 SpeedCast International Ltd. 9,192 33,927 0 0.0 80,536,598 80,912,764 3.3 Utilities Enel SPA 719,891 6,944,804 8,279,681 0.4 Iberdrola SA 533,809 7,116,868 8,058,481 0.3 National Grid plc 330,088 5,125,297 5,199,435 0.2 Orsted A/S 17,699 2,401,361 3,075,754 0.1 E.ON SE 201,507 2,764,600 2,886,337 0.1 RWE AG Class A 58,375 2,275,115 2,619,717 0.1 SSE plc 96,144 2,257,393 2,467,853 0.1 Hong Kong & China Gas Co. Ltd. 1,000,547 2,057,473 1,924,074 0.1 CLP Holdings Ltd. 155,000 2,055,879 1,898,147 0.1 Veolia Environnement SA 47,484 1,526,359 1,776,030 0.1 EDP - Energias de Portugal SA 263,060 1,524,564 1,726,778 0.1 Engie SA Loyalty Bonus 82,231 1,693,229 1,395,218 0.0 Fortum Oyj 39,896 1,159,473 1,362,741 0.1 Engie SA 72,716 1,426,212 1,233,777 0.1 Terna SPA 130,389 1,079,132 1,203,237 0.1 United Utilities Group plc 63,200 963,039 1,053,454 0.1 Suez 35,104 768,245 1,033,582 0.1 Chubu Electric Power Co. Inc. 66,300 1,165,998 1,004,512 0.1 Power Assets Holdings Ltd. 126,500 1,172,602 961,148 0.1 Severn Trent plc 22,261 845,777 952,400 0.1 Red Electrica Corp. SA 40,762 1,055,984 937,093 0.1 Tokyo Gas Co. Ltd. 38,800 1,201,766 907,762 0.1 Endesa SA 29,499 960,942 886,313 0.1 Naturgy Energy Group SA 27,803 878,522 885,167 0.1 Kansai Electric Power Co. Inc. 67,900 1,016,961 802,625 0.1 Pennon Group plc 38,344 584,396 744,810 0.0 Origin Energy Ltd. 165,502 1,071,116 693,907 0.0 Verbund AG Class A 6,019 425,842 686,341 0.0 EDP Renovaveis SA 21,814 452,850 625,942 0.0 Korea Electric Power Corp. 20,209 716,580 552,206 0.0 Tokyo Electric Power Co. Holdings, Inc. 146,500 782,665 539,378 0.0 Meridian Energy Ltd. 116,763 462,294 538,493 0.0 Toho Gas Co. Ltd. 8,400 462,116 509,824 0.0 Contact Energy Ltd. 70,028 423,466 501,707 0.0 Centrica plc 539,031 957,862 474,509 0.0 Tohoku Electric Power Co. Inc. 44,700 621,279 433,879 0.0 Electricite de France SA Loyalty Bonus 25,454 411,562 430,609 0.0 AGL Energy Ltd. 56,445 955,659 430,289 0.0 Kyushu Electric Power Co. Inc. 44,200 568,173 421,629 0.0 CK Infrastructure Holdings Ltd. 57,000 525,868 420,816 0.0 Elia System Operator SA 3,192 344,140 417,183 0.0 Hera SPA 74,852 360,784 382,962 0.0 Uniper SE 8,134 310,143 371,005 0.0 Italgas SPA 44,475 347,278 359,997 0.0 Electricite de France SA 21,048 349,110 356,072 0.0 A2A SPA 138,922 315,289 351,708 0.0 Mercury NZ Ltd. 60,576 252,852 349,602 0.0

139 Vanguard FTSE Developed All Cap ex North America Index ETF

Description Number of Shares Cost ($) Fair Value ($) % of Net Assets Iwatani Corp. 4,700 269,493 349,232 0.0 Befesa SA 3,659 243,659 348,186 0.0 Chugoku Electric Power Co. Inc. 27,900 445,504 315,634 0.0 Cleanaway Waste Management Ltd. 126,274 238,580 309,913 0.0 AusNet Services Ltd. 172,203 288,633 280,156 0.0 Drax Group plc 37,150 207,972 269,582 0.0 Electric Power Development Co. Ltd. 14,800 429,366 261,718 0.0 Sims Ltd. 15,546 184,234 239,910 0.0 Enlight Renewable Energy Ltd. 80,543 157,175 214,103 0.0 BKW AG 1,610 163,254 207,702 0.0 Daiseki Co. Ltd. 3,700 139,075 205,989 0.0 Encavis AG 8,630 173,434 202,010 0.0 PGE Polska Grupa Energetyczna SA 65,177 180,223 199,493 0.0 Nippon Gas Co. Ltd. 9,300 155,388 195,897 0.0 Iren SPA 54,719 184,582 193,334 0.0 RENOVA, Inc. 3,900 72,848 190,364 0.0 ERG SPA 5,167 149,945 189,694 0.0 Sembcorp Industries Ltd. 84,300 200,025 166,189 0.0 Keppel Infrastructure Trust 316,827 160,804 161,986 0.0 Bingo Industries Ltd. 45,933 117,099 146,467 0.0 Neoen SA 2,542 119,024 141,403 0.0 Redes Energeticas Nacionais SGPS SA 39,915 147,629 137,160 0.0 Genesis Energy Ltd. 45,505 122,617 133,871 0.0 Shikoku Electric Power Co. Inc. 14,200 177,668 119,771 0.0 Solaria Energia y Medio Ambiente SA 5,168 127,058 115,660 0.0 Derichebourg SA 9,085 76,665 113,668 0.0 ACEA SPA 3,789 87,161 108,445 0.0 Tauron Polska Energia SA 96,242 72,681 104,557 0.0 EVN AG 3,572 87,495 104,280 0.0 Hokuriku Electric Power Co. 15,300 161,783 103,444 0.0 Towngas China Co. Ltd. 109,000 90,722 99,764 0.0 Korea Electric Power Corp. ADR 7,429 108,645 99,353 0.0 Falck Renewables SPA 11,444 81,652 93,439 0.0 Voltalia SA 2,789 87,654 92,152 0.0 Korea Gas Corp. 2,218 96,722 89,995 0.0 Hokkaido Electric Power Co. Inc. 16,000 122,955 89,790 0.0 Energix-Renewable Energies Ltd. 18,270 76,899 86,857 0.0 Vector Ltd. 24,766 79,965 86,788 0.0 OPC Energy Ltd. 6,859 90,166 82,941 0.0 Sembcorp Marine Ltd. 701,956 197,124 77,598 0.0 Albioma SA Loyalty Bonus 1,408 40,239 71,375 0.0 Okinawa Electric Power Co. Inc. 4,183 87,648 64,637 0.0 Kenon Holdings Ltd. 1,389 43,162 59,330 0.0 Albioma SA 1,146 69,764 58,094 0.0 Enea SA ADR 19,784 53,376 54,731 0.0 Saibu Gas Holdings Co. Ltd. 2,000 63,956 54,312 0.0 ContourGlobal plc 15,922 54,408 52,567 0.0 Mitsuuroko Group Holdings Co. Ltd. 3,800 50,036 50,070 0.0 Shizuoka Gas Co. Ltd. 4,400 47,719 48,845 0.0 GCL New Energy Holdings Ltd. 902,000 39,335 41,710 0.0 TY Holdings Co. Ltd. 1,256 43,447 40,328 0.0 Canvest Environmental Protection Group Co. Ltd. 54,000 33,777 38,920 0.0 Insun ENT Co. Ltd. 2,457 33,057 35,797 0.0 Samchully Co. Ltd. 266 26,061 27,787 0.0 Hokkaido Gas Co. Ltd. 1,600 29,140 27,615 0.0 Sinanen Holdings Co. Ltd. 700 27,275 23,781 0.0 SK Gas Ltd. 168 19,397 22,630 0.0 E1 Corp. 269 13,482 16,594 0.0 Hyflux Ltd. 11,600 4,053 2,244 0.0 70,291,829 72,644,046 3.0 Total investments 2,180,780,633 2,440,738,238 99.9 Foreign currency contracts (Schedule 1) 75,992 0.0 Futures contracts (Schedule 2) (18,748) (0.0) Other assets and liabilities (net) 2,547,872 0.1 Total net assets attributable to holders of redeemable units 2,443,343,354 100.0

140 Vanguard FTSE Developed All Cap ex North America Index ETF

Schedule 1—Foreign Currency Contracts As at June 30, 2021 (unaudited)

Unrealized Appreciation Number of Settlement (Depreciation) Credit Contracts Contract Price Currency Sold Currency Bought Date ($) Rating* 1 EUR 0.822 Euro 1,181,604 U.S. Dollar 1,437,999 Sep 15/21 42,990 AA- 1 JPY 109.565 Japanese Yen 201,734,709 U.S. Dollar 1,841,239 Sep 15/21 27,942 A+ 1 CHF 0.919 Swiss Franc 1,290,690 U.S. Dollar 1,405,095 Sep 15/21 7,642 A+ 1 SEK 8.523 Swedish Krona 243,960 U.S. Dollar 28,625 Jul 01/21 123 A+ Unrealized appreciation of foreign currency contracts 78,697 1 CAD 1.239 Canadian Dollar 2,500,000 U.S. Dollar 2,017,745 Jul 02/21 (1,427) A+ 1 JPY 111.061 Japanese Yen 180,000,000 U.S. Dollar 1,620,735 Jul 01/21 (1,278) A+ Unrealized depreciation of foreign currency contracts (2,705) Net unrealized appreciation of foreign currency contracts 75,992

* Sources: Standard & Poor’s and Fitch.

Schedule 2—Futures Contracts As at June 30, 2021 (unaudited)

Unrealized Appreciation Number of (Depreciation) Contracts Description Expiration Date Contract Value Notional Value ($) 16 MSCI EAFE Index Sep 17/21 USD 1,858,420 USD 1,843,280 (18,748) Unrealized depreciation of futures contracts (18,748) Net unrealized depreciation of futures contracts (18,748)

141 Vanguard FTSE Developed All Cap ex North America Index ETF

Fund-Specific Notes—Concentration Risk As at June 30, 2021 (unaudited), and December 31, 2020 % of net assets attributable to holders of redeemable units

June 30, December 31, Sector Allocation 2021 2020 Equities Industrials 17.5 17.1 Financials 15.7 15.2 Consumer Discretionary 15.5 14.4 Health Care 11.4 12.0 Technology 10.3 10.1 Consumer Staples 8.6 9.3 Basic Materials 7. 0 7. 1 Real Estate 4.2 3.8 Energy 3.4 3.4 Telecommunications 3.3 3.4 Utilities 3.0 3.4 Short-term — 0.0 Other assets and liabilities (net) 0.1 0.8 100.0 100.0

% of investment portfolio

June 30, December 31, Market Allocation 2021 2020 Equities Japan 23.0 24.5 United Kingdom 14.1 13.8 France 9.2 9.0 Germany 8.3 8.3 Switzerland 8.3 8.3 Australia 7. 2 7. 1 South Korea 6.2 6.2 Netherlands 3.8 3.5 Sweden 3.8 3.5 Hong Kong 3.1 3.1 Italy 2.4 2.3 Denmark 2.2 2.2 Spain 2.2 2.2 Finland 1. 3 1. 2 Singapore 1. 1 1. 1 Belgium 1. 0 1. 0 Other 2.8 2.7 100.0 100.0

142 Vanguard FTSE Developed All Cap ex North America Index ETF (CAD-hedged)

Statement of Financial Position As at June 30, 2021 (unaudited), and December 31, 2020

June 30, December 31, 2021 2020 Assets Current assets Investments $209,194,260 $171,270,958 Cash 124,719 159,672 Amounts receivable for investments sold 813,554 527,529 Amounts receivable from manager 3,038 2,695 Income distributions receivable 1,950,230 938,493 Unrealized appreciation of foreign currency contracts 420,680 462,764 Total assets 212,506,481 173,362,111 Liabilities Current liabilities Distributions payable 1,957,812 946,575 Unrealized depreciation of foreign currency contracts 1,262,342 1,039,859 Total liabilities excluding net assets attributable to holders of redeemable units 3,220,154 1,986,434 Total net assets attributable to holders of redeemable units $209,286,327 $171,375,677 Number of redeemable units outstanding (Note 9) 6,225,000 5,725,000 Net assets attributable to holders of redeemable units per unit $33.62 $29.93

Statement of Comprehensive Income For the six months ended June 30, 2021, and June 30, 2020 (unaudited)

2021 2020 Income Net gain (loss) on investments Interest for distribution purposes —$203 Income distribution from underlying funds $2,579,974 1,573,368 Net realized gain (loss) on sale of investments 409,246 (1,303,528) Change in unrealized appreciation/depreciation of investments 9,240,211 (11,350,096) Net gain (loss) on investments 12,229,431 (11,080,053) Net gain (loss) on derivatives Net realized gain (loss) on foreign currency contracts 12,300,203 (5,800,597) Net realized gain (loss) on futures contracts — (1,170) Change in unrealized appreciation/depreciation of foreign currency contracts (264,567) (126,649) Net gain (loss) on derivatives 12,035,636 (5,928,416) Net realized gain (loss) on foreign currency transactions (3,351) (889) Change in unrealized appreciation/depreciation of foreign currency translations 926 379 Total income (net) 24,262,642 (17,008,979) Expenses (Note 10) Management fees 1,378 196 Overdraft expenses —639 Independent Review Committee fees 1,341 1,352 Transaction costs (Note 3) 2,765 2,670 Total expenses 5,484 4,857 Expenses absorbed or waived by manager (1,341) (1,352) Net expenses 4,143 3,505 Increase (decrease) in net assets attributable to holders of redeemable units $24,258,499 $(17,012,484) Weighted average number of redeemable units 5,988,674 5,822,940 Increase (decrease) in net assets attributable to holders of redeemable units per unit $4.05 $(2.92)

The accompanying notes are an integral part of the financial statements.

143 Vanguard FTSE Developed All Cap ex North America Index ETF (CAD-hedged)

Statement of Changes in Net Assets Attributable to Holders of Redeemable Units For the six months ended June 30, 2021, and June 30, 2020 (unaudited)

2021 2020 Net assets attributable to holders of redeemable units, beginning of period $171,375,677 $170,572,305 Increase (decrease) in net assets attributable to holders of redeemable units $24,258,499 $(17,012,484) Distributions to holders of redeemable units Net investment income (2,562,790) (1,620,163) Return of capital (6,762) (4,890) Total distributions to holders of redeemable units (2,569,552) (1,625,053) Redeemable unit transactions Proceeds from issuance of redeemable units 19,464,703 19,225,235 Payment for redeemable units redeemed (3,243,000) (15,792,622) Net redeemable unit transactions 16,221,703 3,432,613 Net assets attributable to holders of redeemable units, end of period $209,286,327 $155,367,381

Statement of Cash Flows For the six months ended June 30, 2021, and June 30, 2020 (unaudited)

2021 2020 Cash flows from (used in) operating activities Increase (decrease) in net assets attributable to holders of redeemable units $24,258,499 $(17,012,484) Adjustments for: Net realized (gain) loss on sale of investments (409,246) 1,303,528 Change in unrealized appreciation/depreciation of investments (9,240,211) 11,350,096 Change in unrealized appreciation/depreciation of derivatives 264,567 126,649 Change in unrealized appreciation/depreciation of foreign currency translations (926) (379) 1 Purchase of investments (13,014,813) (3,575,921) 2 Proceeds from sale of investments 527,692 9,661,034 Change in working capital (1,012,080) (674,402) Net cash from (used in) operating activities 1,373,482 1,178,121 Cash flows from (used in) financing activities 1 Proceeds from issuance of redeemable units 195,903 (29,490) Distributions to holders of redeemable units, net of reinvested distributions (1,558,315) (952,582) 2 Payment for redeemable units redeemed (46,949) (105,122) Net cash from (used in) financing activities (1,409,361) (1,087,194) Change in unrealized appreciation/depreciation of foreign currency translations 926 379 Net increase (decrease) in cash during the period $(34,953) $91,306 Cash, beginning of period $159,672 $20,352 Cash, end of period $124,719 $111,658 Supplemental cash flow information relating to operating activities Income distributions received, net of foreign withholding taxes, if applicable $1,568,237 $899,607 Interest received, net of foreign withholding taxes, if applicable — $203 Interest paid — $639

1 Excludes in-kind transactions of $19,268,800 and $19,254,725 for the periods ended June 30, 2021 and 2020. 2 Excludes in-kind transactions of $3,196,051 and $15,687,500 for the periods ended June 30, 2021 and 2020.

The accompanying notes are an integral part of the financial statements.

144 Vanguard FTSE Developed All Cap ex North America Index ETF (CAD-hedged)

Schedule of Investment Portfolio As at June 30, 2021 (unaudited)

Description Number of Units Cost ($) Fair Value ($) % of Net Assets Exchange-traded funds Vanguard FTSE Developed All Cap ex North America Index ETF* 6,527,122 182,231,896 209,194,260 100.0 Total investments 182,231,896 209,194,260 100.0 Foreign currency contracts (Schedule 1) (841,662) (0.4) Other assets and liabilities (net) 933,729 0.4 Total net assets attributable to holders of redeemable units 209,286,327 100.0 * Affiliated fund. Refer to Note 10(b).

Schedule 1—Foreign Currency Contracts As at June 30, 2021 (unaudited)

Unrealized Appreciation Number of Settlement (Depreciation) Credit Contracts Contract Price Currency Sold Currency Bought Date ($) Rating* 1 EUR 0.679 Euro 39,516,891 Canadian Dollar 58,184,314 Jul 02/21 153,732 AA- 1 CAD 0.001 Canadian Dollar 12,501,800 South Korean Won 11,414,143,469 Jul 02/21 49,045 AA- 1 CHF 0.744 Swiss Franc 11,805,002 Canadian Dollar 15,856,303 Jul 02/21 41,802 AA- 1 GBP 0.584 Pound Sterling 16,773,823 Canadian Dollar 28,731,243 Jul 02/21 37,108 AA- 1 CAD 0.001 Canadian Dollar 12,303,932 South Korean Won 11,222,878,955 Jul 02/21 36,601 AA- 1 AUD 1.074 Australian Dollar 15,322,657 Canadian Dollar 14,271,998 Jul 02/21 27,229 AA- 1 SEK 6.887 Swedish Krona 52,354,590 Canadian Dollar 7,601,773 Jul 02/21 21,143 AA- 1 DKK 5.051 Danish Krone 21,830,921 Canadian Dollar 4,321,701 Jul 02/21 10,559 AA- 1 NZD 1.142 New Zealand Dollar 857,970 Canadian Dollar 751,376 Jul 02/21 9,007 AA- 1 NOK 6.916 Norwegian Krone 11,319,589 Canadian Dollar 1,636,614 Jul 02/21 7,710 AA- 1 PLN 3.047 Polish Zloty 1,915,654 Canadian Dollar 628,804 Jul 02/21 5,701 AA- 1 EUR 0.679 Euro 1,095,340 Canadian Dollar 1,612,834 Jul 02/21 4,326 A+ 1 CHF 0.744 Swiss Franc 451,048 Canadian Dollar 605,865 Jul 02/21 1,621 A+ 1 EUR 0.681 Euro 41,177,346 Canadian Dollar 60,507,722 Aug 03/21 1,537 AA- 1 EUR 0.677 Euro 164,947 Canadian Dollar 243,519 Jul 02/21 1,294 AA- 1 EUR 0.678 Euro 164,916 Canadian Dollar 243,068 Jul 02/21 889 A+ 1 CHF 0.738 Swiss Franc 49,778 Canadian Dollar 67,463 Jul 02/21 778 AA- 1 GBP 0.584 Pound Sterling 351,048 Canadian Dollar 601,291 Jul 02/21 771 A+ 1 EUR 0.679 Euro 164,742 Canadian Dollar 242,679 Jul 02/21 756 A+ 1 AUD 1.065 Australian Dollar 63,401 Canadian Dollar 59,521 Jul 02/21 580 AA- 1 PLN 3.047 Polish Zloty 182,282 Canadian Dollar 59,829 Jul 02/21 538 A+ 1 CHF 0.741 Swiss Franc 49,769 Canadian Dollar 67,205 Jul 02/21 532 A+ 1 AUD 1.074 Australian Dollar 287,538 Canadian Dollar 267,828 Jul 02/21 517 A+ 1 GBP 0.582 Pound Sterling 69,553 Canadian Dollar 119,471 Jul 02/21 490 AA- 1 CHF 0.746 Swiss Franc 12,426,586 Canadian Dollar 16,660,771 Aug 03/21 484 AA- 1 EUR 0.678 Euro 70,510 Canadian Dollar 103,990 Jul 02/21 445 AA- 1 SEK 6.887 Swedish Krona 1,023,240 Canadian Dollar 148,571 Jul 02/21 412 A+ 1 DKK 5.051 Danish Krone 696,511 Canadian Dollar 137,886 Jul 02/21 340 A+ 1 SEK 6.833 Swedish Krona 216,754 Canadian Dollar 31,723 Jul 02/21 338 A+ 1 AUD 1.070 Australian Dollar 63,319 Canadian Dollar 59,200 Jul 02/21 335 A+ 1 AUD 1.070 Australian Dollar 63,389 Canadian Dollar 59,252 Jul 02/21 322 A+ 1 EUR 0.680 Euro 144,897 Canadian Dollar 213,199 Aug 03/21 287 AA- 1 SEK 6.855 Swedish Krona 216,501 Canadian Dollar 31,585 Jul 02/21 237 A+ 1 JPY 89.511 Japanese Yen 15,041,170 Canadian Dollar 168,037 Aug 03/21 183 AA- 1 CHF 0.744 Swiss Franc 49,711 Canadian Dollar 66,776 Jul 02/21 181 A+ 1 SEK 6.868 Swedish Krona 216,795 Canadian Dollar 31,564 Jul 02/21 173 AA- 1 CAD 0.001 Canadian Dollar 50,059 South Korean Won 45,660,526 Jul 02/21 149 AA-

145 Vanguard FTSE Developed All Cap ex North America Index ETF (CAD-hedged)

Unrealized Appreciation Number of Settlement (Depreciation) Credit Contracts Contract Price Currency Sold Currency Bought Date ($) Rating* 1 CAD 0.001 Canadian Dollar 50,117 South Korean Won 45,713,907 Jul 02/21 149 A+ 1 CAD 0.001 Canadian Dollar 50,127 South Korean Won 45,722,439 Jul 02/21 149 AA- 1 DKK 5.061 Danish Krone 22,840,888 Canadian Dollar 4,513,238 Aug 03/21 130 AA- 1 NOK 6.917 Norwegian Krone 186,571 Canadian Dollar 26,974 Jul 02/21 126 A+ 1 GBP 0.583 Pound Sterling 29,732 Canadian Dollar 50,978 Jul 02/21 117 AA- 1 GBP 0.584 Pound Sterling 60,527 Canadian Dollar 103,665 Aug 03/21 115 A+ 1 CAD 0.001 Canadian Dollar 37,958 South Korean Won 34,622,521 Jul 02/21 113 AA- 1 CAD 0.913 Canadian Dollar 12,301 Singapore Dollar 13,474 Jul 02/21 112 A+ 1 NOK 6.844 Norwegian Krone 46,724 Canadian Dollar 6,827 Jul 02/21 103 A+ 1 CHF 0.744 Swiss Franc 21,279 Canadian Dollar 28,605 Jul 02/21 99 A+ 1 DKK 5.038 Danish Krone 91,495 Canadian Dollar 18,163 Jul 02/21 94 AA- 1 CAD 1.208 Canadian Dollar 3,265 U.S. Dollar 2,703 Jul 02/21 82 A+ 1 SEK 6.869 Swedish Krona 92,674 Canadian Dollar 13,492 Jul 02/21 74 AA- 1 CAD 1.340 Canadian Dollar 16,647,134 Swiss Franc 12,426,586 Jul 02/21 68 AA- 1 DKK 5.046 Danish Krone 91,478 Canadian Dollar 18,129 Jul 02/21 64 A+ 1 NOK 6.884 Norwegian Krone 46,732 Canadian Dollar 6,789 Jul 02/21 64 AA- 1 CAD 0.001 Canadian Dollar 21,428 South Korean Won 19,545,121 Jul 02/21 64 AA- 1 CAD 0.930 Canadian Dollar 14,713,949 Australian Dollar 15,827,407 Jul 02/21 63 AA- 1 NOK 6.889 Norwegian Krone 46,669 Canadian Dollar 6,774 Jul 02/21 58 A+ 1 DKK 5.049 Danish Krone 91,372 Canadian Dollar 18,098 Jul 02/21 54 A+ 1 AUD 1.075 Australian Dollar 55,864 Canadian Dollar 51,989 Aug 04/21 46 AA- 1 CHF 0.746 Swiss Franc 474,987 Canadian Dollar 636,859 Aug 03/21 45 AA- 1 PLN 3.027 Polish Zloty 8,509 Canadian Dollar 2,811 Jul 02/21 44 A+ 1 AUD 1.074 Australian Dollar 27,102 Canadian Dollar 25,238 Jul 02/21 42 AA- 1 CHF 0.745 Swiss Franc 45,228 Canadian Dollar 60,679 Aug 03/21 42 AA- 1 PLN 3.031 Polish Zloty 8,519 Canadian Dollar 2,811 Jul 02/21 40 A+ 1 SEK 6.895 Swedish Krona 188,413 Canadian Dollar 27,326 Aug 03/21 37 AA- 1 DKK 5.043 Danish Krone 39,112 Canadian Dollar 7,755 Jul 02/21 32 A+ 1 HKD 6.262 Hong Kong Dollar 137,616 Canadian Dollar 21,977 Aug 03/21 32 A+ 1 CAD 0.011 Canadian Dollar 47,507,805 Japanese Yen 4,258,172,102 Jul 02/21 29 AA- 1 CAD 1.468 Canadian Dollar 60,468,933 Euro 41,177,346 Jul 02/21 29 AA- 1 NZD 1.144 New Zealand Dollar 3,354 Canadian Dollar 2,930 Jul 02/21 28 A+ 1 CAD 0.159 Canadian Dollar 6,569,258 Hong Kong Dollar 41,198,312 Jul 06/21 22 AA- 1 DKK 5.054 Danish Krone 82,408 Canadian Dollar 16,305 Aug 03/21 22 AA- 1 NZD 1.141 New Zealand Dollar 1,436 Canadian Dollar 1,258 Jul 02/21 16 AA- 1 PLN 3.057 Polish Zloty 8,521 Canadian Dollar 2,787 Jul 02/21 16 AA- 1 NOK 6.948 Norwegian Krone 11,666,262 Canadian Dollar 1,679,078 Aug 03/21 16 AA- 1 NZD 1.150 New Zealand Dollar 3,358 Canadian Dollar 2,920 Jul 02/21 14 AA- 1 PLN 3.042 Polish Zloty 3,642 Canadian Dollar 1,197 Jul 02/21 12 A+ 1 NOK 6.926 Norwegian Krone 19,977 Canadian Dollar 2,885 Jul 02/21 10 AA- 1 EUR 0.681 Euro 155,141 Canadian Dollar 227,975 Aug 03/21 10 AA- 1 NZD 1.153 New Zealand Dollar 3,358 Canadian Dollar 2,913 Jul 02/21 8 A+ 1 JPY 89.606 Japanese Yen 32,382,831 Canadian Dollar 361,390 Aug 03/21 8 AA- 1 SGD 1.085 Singapore Dollar 8,465 Canadian Dollar 7,805 Aug 03/21 8 AA- 1 NOK 6.942 Norwegian Krone 41,200 Canadian Dollar 5,935 Aug 03/21 5 A+ 1 NZD 1.154 New Zealand Dollar 3,012 Canadian Dollar 2,610 Aug 03/21 4 A+ 1 DKK 5.061 Danish Krone 666,360 Canadian Dollar 131,668 Aug 03/21 3 AA- 1 PLN 3.074 Polish Zloty 2,127,128 Canadian Dollar 692,003 Aug 03/21 2 AA- 1 CAD 0.865 Canadian Dollar 725,427 New Zealand Dollar 838,391 Jul 02/21 2 AA- 1 CAD 0.197 Canadian Dollar 4,510,587 Danish Krone 22,840,888 Jul 02/21 2 AA- 1 ILS 2.630 Israeli Shekel 10,770 Canadian Dollar 4,096 Aug 03/21 2 AA-

146 Vanguard FTSE Developed All Cap ex North America Index ETF (CAD-hedged)

Unrealized Appreciation Number of Settlement (Depreciation) Credit Contracts Contract Price Currency Sold Currency Bought Date ($) Rating* 1 CAD 0.325 Canadian Dollar 691,888 Polish Zloty 2,127,128 Jul 02/21 1 AA- 1 USD 0.806 U.S. Dollar 639 Canadian Dollar 793 Aug 03/21 1 A+ 1 CAD 1.238 Canadian Dollar 235,203 U.S. Dollar 189,940 Jul 02/21 0 AA- 1 USD 0.808 U.S. Dollar 189,940 Canadian Dollar 235,207 Aug 03/21 0 AA- Unrealized appreciation of foreign currency contracts 420,680 1 JPY 91.018 Japanese Yen 4,135,058,084 Canadian Dollar 45,431,312 Jul 02/21 (702,956) AA- 1 KRW 927.420 South Korean Won 11,222,878,955 Canadian Dollar 12,101,183 Jul 02/21 (239,350) AA- 1 HKD 6.425 Hong Kong Dollar 40,122,025 Canadian Dollar 6,245,106 Jul 06/21 (152,555) AA- 1 KRW 913.170 South Korean Won 11,414,143,469 Canadian Dollar 12,499,473 Aug 03/21 (49,468) AA- 1 KRW 912.138 South Korean Won 11,414,143,469 Canadian Dollar 12,513,620 Jul 02/21 (37,225) AA- 1 ILS 2.689 Israeli Shekel 2,928,659 Canadian Dollar 1,088,928 Jul 02/21 (24,025) AA- 1 SGD 1.095 Singapore Dollar 2,478,974 Canadian Dollar 2,263,169 Jul 02/21 (20,504) AA- 1 JPY 91.015 Japanese Yen 64,676,995 Canadian Dollar 710,620 Jul 02/21 (10,972) A+ 1 USD 0.828 U.S. Dollar 190,036 Canadian Dollar 229,575 Jul 02/21 (5,747) AA- 1 JPY 90.861 Japanese Yen 17,034,163 Canadian Dollar 187,475 Jul 02/21 (2,573) A+ 1 JPY 90.634 Japanese Yen 17,054,077 Canadian Dollar 188,164 Jul 02/21 (2,106) A+ 1 HKD 6.424 Hong Kong Dollar 510,902 Canadian Dollar 79,524 Jul 06/21 (1,942) A+ 1 JPY 90.264 Japanese Yen 17,057,260 Canadian Dollar 188,970 Jul 02/21 (1,336) AA- 1 ILS 2.690 Israeli Shekel 153,838 Canadian Dollar 57,197 Jul 02/21 (1,265) A+ 1 JPY 90.869 Japanese Yen 7,291,523 Canadian Dollar 80,242 Jul 02/21 (1,108) A+ 1 KRW 913.250 South Korean Won 225,605,953 Canadian Dollar 247,036 Aug 03/21 (999) AA- 1 JPY 89.610 Japanese Yen 4,258,172,102 Canadian Dollar 47,519,098 Aug 03/21 (796) AA- 1 KRW 922.794 South Korean Won 45,713,907 Canadian Dollar 49,539 Jul 02/21 (728) A+ 1 HKD 6.433 Hong Kong Dollar 164,808 Canadian Dollar 25,620 Jul 06/21 (660) A+ 1 KRW 921.100 South Korean Won 45,660,526 Canadian Dollar 49,572 Jul 02/21 (636) AA- 1 HKD 6.418 Hong Kong Dollar 165,000 Canadian Dollar 25,709 Jul 06/21 (601) A+ 1 AUD 1.076 Australian Dollar 15,827,407 Canadian Dollar 14,715,943 Aug 04/21 (579) AA- 1 KRW 922.700 South Korean Won 34,622,521 Canadian Dollar 37,523 Jul 02/21 (547) AA- 1 KRW 919.000 South Korean Won 45,722,439 Canadian Dollar 49,752 Jul 02/21 (523) AA- 1 GBP 0.585 Pound Sterling 17,363,158 Canadian Dollar 29,704,734 Aug 03/21 (426) AA- 1 HKD 6.373 Hong Kong Dollar 165,031 Canadian Dollar 25,894 Jul 06/21 (421) AA- 1 CAD 0.876 Canadian Dollar 27,224 New Zealand Dollar 31,084 Jul 02/21 (328) A+ 1 KRW 922.310 South Korean Won 19,545,121 Canadian Dollar 21,191 Jul 02/21 (300) AA- 1 HKD 6.423 Hong Kong Dollar 70,546 Canadian Dollar 10,983 Jul 06/21 (266) AA- 1 GBP 0.586 Pound Sterling 69,540 Canadian Dollar 118,767 Jul 02/21 (191) A+ 1 HKD 6.271 Hong Kong Dollar 41,198,312 Canadian Dollar 6,569,572 Aug 03/21 (191) AA- 1 GBP 0.585 Pound Sterling 69,462 Canadian Dollar 118,677 Jul 02/21 (148) A+ 1 KRW 912.000 South Korean Won 40,804,851 Canadian Dollar 44,742 Aug 03/21 (120) AA- 1 ILS 2.694 Israeli Shekel 12,503 Canadian Dollar 4,641 Jul 02/21 (110) A+ 1 SGD 1.097 Singapore Dollar 10,000 Canadian Dollar 9,120 Jul 02/21 (93) A+ 1 ILS 2.682 Israeli Shekel 12,517 Canadian Dollar 4,668 Jul 02/21 (89) A+ 1 SGD 1.096 Singapore Dollar 10,012 Canadian Dollar 9,138 Jul 02/21 (85) A+ 1 SGD 1.086 Singapore Dollar 2,499,806 Canadian Dollar 2,302,664 Aug 03/21 (76) AA- 1 ILS 2.659 Israeli Shekel 12,520 Canadian Dollar 4,708 Jul 02/21 (50) AA- 1 ILS 2.689 Israeli Shekel 5,352 Canadian Dollar 1,990 Jul 02/21 (43) A+ 1 SGD 1.095 Singapore Dollar 4,281 Canadian Dollar 3,910 Jul 02/21 (34) AA- 1 SGD 1.089 Singapore Dollar 10,014 Canadian Dollar 9,194 Jul 02/21 (30) AA- 1 SEK 6.904 Swedish Krona 54,120,553 Canadian Dollar 7,838,554 Aug 03/21 (28) AA- 1 USD 0.829 U.S. Dollar 760 Canadian Dollar 917 Jul 02/21 (24) A+ 1 USD 0.827 U.S. Dollar 761 Canadian Dollar 920 Jul 02/21 (22) A+ 1 USD 0.821 U.S. Dollar 761 Canadian Dollar 927 Jul 02/21 (16) AA-

147 Vanguard FTSE Developed All Cap ex North America Index ETF (CAD-hedged)

Unrealized Appreciation Number of Settlement (Depreciation) Credit Contracts Contract Price Currency Sold Currency Bought Date ($) Rating* 1 USD 0.828 U.S. Dollar 325 Canadian Dollar 393 Jul 02/21 (10) A+ 1 NZD 1.156 New Zealand Dollar 838,391 Canadian Dollar 725,393 Aug 03/21 (9) AA- 1 ILS 2.631 Israeli Shekel 3,125,388 Canadian Dollar 1,188,006 Aug 03/21 (9) AA- 1 CAD 1.711 Canadian Dollar 29,702,285 Pound Sterling 17,363,158 Jul 02/21 (5) AA- 1 CAD 0.145 Canadian Dollar 7,836,335 Swedish Krona 54,120,553 Jul 02/21 (4) AA- 1 CAD 0.145 Canadian Dollar 54,327 Swedish Krona 375,074 Aug 03/21 (3) AA- 1 CAD 0.380 Canadian Dollar 20,270 Israeli Shekel 53,318 Aug 03/21 (3) AA- 1 CAD 0.159 Canadian Dollar 309,800 Hong Kong Dollar 1,942,712 Aug 03/21 (2) AA- 1 AUD 1.076 Australian Dollar 108,074 Canadian Dollar 100,487 Aug 04/21 (2) AA- 1 CAD 0.144 Canadian Dollar 1,678,792 Norwegian Krone 11,666,262 Jul 02/21 (1) AA- 1 CAD 0.921 Canadian Dollar 78,466 Singapore Dollar 85,180 Aug 03/21 (1) AA- 1 CAD 0.921 Canadian Dollar 2,302,865 Singapore Dollar 2,499,806 Jul 02/21 (1) AA- 1 NOK 6.948 Norwegian Krone 86,305 Canadian Dollar 12,421 Aug 03/21 (0) AA- 1 CAD 1.711 Canadian Dollar 167,142 Pound Sterling 97,697 Aug 03/21 (0) AA- 1 PLN 3.074 Polish Zloty 14,875 Canadian Dollar 4,839 Aug 03/21 (0) AA- 1 NZD 1.156 New Zealand Dollar 20,737 Canadian Dollar 17,942 Aug 03/21 (0) AA- 1 CAD 1.238 Canadian Dollar 9,408 U.S. Dollar 7,597 Aug 03/21 (0) AA- 1 CAD 0.380 Canadian Dollar 1,187,715 Israeli Shekel 3,125,388 Jul 02/21 (0) AA- 1 PLN 3.074 Polish Zloty 7,509 Canadian Dollar 2,443 Aug 03/21 (0) AA- Unrealized depreciation of foreign currency contracts (1,262,342) Net unrealized depreciation of foreign currency contracts (841,662)

* Sources: Standard & Poor’s and Fitch.

148 Vanguard FTSE Developed All Cap ex North America Index ETF (CAD-hedged)

Fund-Specific Notes—Concentration Risk As at June 30, 2021 (unaudited), and December 31, 2020 % of net assets attributable to holders of redeemable units

June 30, December 31, Sector Allocation 2021 2020 Underlying Canada-domiciled Vanguard Fund Industrials 17.5 17.1 Financials 15.7 15.2 Consumer Discretionary 15.5 14.4 Health Care 11.4 12.0 Technology 10.3 10.1 Consumer Staples 8.6 9.3 Basic Materials 7. 0 7. 1 Real Estate 4.2 3.8 Energy 3.4 3.4 Telecommunications 3.3 3.4 Utilities 3.0 3.4 Short-term — 0.0 Other assets and liabilities (net) 0.1 0.8 100.0 100.0

% of investment portfolio

June 30, December 31, Market Allocation 2021 2020 Underlying Canada-domiciled Vanguard Fund Japan 23.0 24.5 United Kingdom 14.1 13.8 France 9.2 9.0 Germany 8.3 8.3 Switzerland 8.3 8.3 Australia 7. 2 7. 1 South Korea 6.2 6.2 Netherlands 3.8 3.5 Sweden 3.8 3.5 Hong Kong 3.1 3.1 Italy 2.4 2.3 Denmark 2.2 2.2 Spain 2.2 2.2 Finland 1. 3 1. 2 Singapore 1. 1 1. 1 Belgium 1. 0 1. 0 Other 2.8 2.7 100.0 100.0

149 Vanguard FTSE Developed All Cap ex U.S. Index ETF

Statement of Financial Position As at June 30, 2021 (unaudited), and December 31, 2020

June 30, December 31, 2021 2020 Assets Current assets Investments $407,569,714 $364,103,090 Cash — 3,125,540 Margin due from brokers 52 — Income distributions receivable 2,759,973 — Unrealized appreciation of foreign currency contracts —4,801 Total assets 410,329,739 367,233,431 Liabilities Current liabilities Bank overdraft 2,549,616 — Amounts payable for investments purchased — 241,987 Margin due to brokers —224,145 Distributions payable — 2,390,668 Accrued expenses and other liabilities 30,686 10,497 Total liabilities excluding net assets attributable to holders of redeemable units 2,580,302 2,867,297 Total net assets attributable to holders of redeemable units $407,749,437 $364,366,134 Number of redeemable units outstanding (Note 9) 10,165,000 9,645,000 Net assets attributable to holders of redeemable units per unit $40.11 $37.78

The accompanying notes are an integral part of the financial statements.

150 Vanguard FTSE Developed All Cap ex U.S. Index ETF

Statement of Comprehensive Income For the six months ended June 30, 2021, and June 30, 2020 (unaudited)

2021 2020 Income Net gain (loss) on investments Interest for distribution purposes —$908 Income distribution from underlying funds $5,033,000 2,909,046 Net realized gain (loss) on sale of investments 2,780,997 (1,197,492) Change in unrealized appreciation/depreciation of investments 20,652,527 (31,665,009) Net gain (loss) on investments 28,466,524 (29,952,547) Net gain (loss) on derivatives Net realized gain (loss) on foreign currency contracts (146,994) (68,640) Net realized gain (loss) on futures contracts (59) — Change in unrealized appreciation/depreciation of foreign currency contracts (4,801) (13,816) Net gain (loss) on derivatives (151,854) (82,456) Net realized gain (loss) on foreign currency transactions 125,980 66,670 Change in unrealized appreciation/depreciation of foreign currency translations 13,491 15,305 Total income (net) 28,454,141 (29,953,028) Expenses (Note 10) Management fees 322,891 284,527 Overdraft expenses 36 — Independent Review Committee fees 1,341 1,352 Foreign withholding taxes 754,088 439,953 Transaction costs (Note 3) 153 104 Total expenses 1,078,509 725,936 Expenses absorbed or waived by manager (1,341) (1,352) Net expenses 1,077,168 724,584 Increase (decrease) in net assets attributable to holders of redeemable units $27,376,973 $(30,677,612) Weighted average number of redeemable units 9,934,392 10,434,341 Increase (decrease) in net assets attributable to holders of redeemable units per unit $2.76 $(2.94)

The accompanying notes are an integral part of the financial statements.

151 Vanguard FTSE Developed All Cap ex U.S. Index ETF

Statement of Changes in Net Assets Attributable to Holders of Redeemable Units For the six months ended June 30, 2021, and June 30, 2020 (unaudited)

2021 2020 Net assets attributable to holders of redeemable units, beginning of period $364,366,134 $387,794,489 Increase (decrease) in net assets attributable to holders of redeemable units $27,376,973 $(30,677,612) Distributions to holders of redeemable units Net investment income (4,232,240) (2,313,674) Total distributions to holders of redeemable units (4,232,240) (2,313,674) Redeemable unit transactions Proceeds from issuance of redeemable units 34,070,510 16,308,008 Payment for redeemable units redeemed (13,831,940) (50,377,648) Net redeemable unit transactions 20,238,570 (34,069,640) Net assets attributable to holders of redeemable units, end of period $407,749,437 $320,733,563

Statement of Cash Flows For the six months ended June 30, 2021, and June 30, 2020 (unaudited)

2021 2020 Cash flows from (used in) operating activities Increase (decrease) in net assets attributable to holders of redeemable units $27,376,973 $(30,677,612) Adjustments for: Net realized (gain) loss on sale of investments (2,780,997) 1,197,492 Change in unrealized appreciation/depreciation of investments (20,652,527) 31,665,009 Change in unrealized appreciation/depreciation of derivatives 4,801 13,816 Change in unrealized appreciation/depreciation of foreign currency translations (13,491) (15,305) 1 Purchase of investments (844,540) (276,666) 2 Proceeds from sale of investments 804,168 4,126,764 Change in working capital (2,963,981) 7,535 Net cash from (used in) operating activities 930,406 6,041,033 Cash flows from (used in) financing activities 1 Proceeds from issuance of redeemable units 7,483 6,610 Distributions to holders of redeemable units, net of reinvested distributions (6,622,908) (5,340,279) 2 Payment for redeemable units redeemed (3,628) (679,040) Net cash from (used in) financing activities (6,619,053) (6,012,709) Change in unrealized appreciation/depreciation of foreign currency translations 13,491 15,305 Net increase (decrease) in cash during the period $(5,675,156) $43,629 Cash, beginning of period $3,125,540 $119,499 Cash (overdraft), end of period $(2,549,616) $163,128 Supplemental cash flow information relating to operating activities Income distributions received, net of foreign withholding taxes, if applicable $1,518,939 $2,469,093 Interest received, net of foreign withholding taxes, if applicable — $908 Interest paid $36 —

1 Excludes in-kind transactions of $34,063,027 and $16,301,398 for the periods ended June 30, 2021 and 2020. 2 Excludes in-kind transactions of $13,828,312 and $49,698,384 for the periods ended June 30, 2021 and 2020.

The accompanying notes are an integral part of the financial statements.

152 Vanguard FTSE Developed All Cap ex U.S. Index ETF

Schedule of Investment Portfolio As at June 30, 2021 (unaudited)

Description Number of Units Cost ($) Fair Value ($) % of Net Assets Exchange-traded funds Vanguard FTSE Developed Markets ETF* 6,381,819 327,805,698 407,569,714 100.0 Total investments 327,805,698 407,569,714 100.0 Other assets and liabilities (net) 179,723 0.0 Total net assets attributable to holders of redeemable units 407,749,437 100.0 * Affiliated fund. Refer to Note 10(b).

Fund-Specific Notes—Concentration Risk As at June 30, 2021 (unaudited), and December 31, 2020 % of net assets attributable to holders of redeemable units

June 30, December 31, Sector Allocation 2021 2020 Underlying U.S.-domiciled Vanguard Fund Financials 17.2 16.6 Industrials 16.5 16.6 Consumer Discretionary 14.5 14.0 Health Care 10.4 11.0 Technology 10.3 10.1 Consumer Staples 7. 9 8. 3 Basic Materials 7. 4 7. 6 Energy 4.3 4.1 Real Estate 4.0 3.7 Telecommunications 3.2 3.3 Utilities 3.2 3.6 Other assets and liabilities (net) 1.1 1.1 100.0 100.0

% of investment portfolio

June 30, December 31, Market Allocation 2021 2020 Underlying U.S.-domiciled Vanguard Fund Japan 20.9 22.5 United Kingdom 12.8 12.6 Canada 9.2 8.3 France 8.4 8.2 Germany 7. 5 7. 6 Switzerland 7. 5 7. 7 Australia 6.5 6.5 South Korea 5.5 5.6 Netherlands 3.5 3.2 Sweden 3.4 3.2 Hong Kong 2.8 2.8 Italy 2.2 2.1 Denmark 2.0 2.0 Spain 2.0 2.0 Finland 1. 2 1. 1 Singapore 1. 0 1. 0 Other 3.6 3.6 100.0 100.0

153 Vanguard FTSE Developed All Cap ex U.S. Index ETF (CAD-hedged)

Statement of Financial Position As at June 30, 2021 (unaudited), and December 31, 2020

June 30, December 31, 2021 2020 Assets Current assets Investments $529,740,821 $431,779,960 Cash 281,497 993,267 Amounts receivable for investments sold 1,851,485 802,594 Margin due from brokers 32 — Income distributions receivable — 3,200,282 Unrealized appreciation of foreign currency contracts 979,284 1,063,166 Total assets 532,853,119 437,839,269 Liabilities Current liabilities Margin due to brokers — 656,864 Distributions payable — 2,843,783 Accrued expenses and other liabilities 50,563 18,394 Unrealized depreciation of foreign currency contracts 2,934,056 2,383,798 Total liabilities excluding net assets attributable to holders of redeemable units 2,984,619 5,902,839 Total net assets attributable to holders of redeemable units $529,868,500 $431,936,430 Number of redeemable units outstanding (Note 9) 11,025,000 10,100,000 Net assets attributable to holders of redeemable units per unit $48.06 $42.77

The accompanying notes are an integral part of the financial statements.

154 Vanguard FTSE Developed All Cap ex U.S. Index ETF (CAD-hedged)

Statement of Comprehensive Income For the six months ended June 30, 2021, and June 30, 2020 (unaudited)

2021 2020 Income Net gain (loss) on investments Interest for distribution purposes —$1,149 Income distribution from underlying funds $6,376,662 3,696,792 Net realized gain (loss) on sale of investments 1,914,193 596,375 Change in unrealized appreciation/depreciation of investments 26,240,102 (38,116,185) Net gain (loss) on investments 34,530,957 (33,821,869) Net gain (loss) on derivatives Net realized gain (loss) on foreign currency contracts 28,753,574 (14,131,377) Net realized gain (loss) on futures contracts (18) — Change in unrealized appreciation/depreciation of foreign currency contracts (634,140) (671,666) Net gain (loss) on derivatives 28,119,416 (14,803,043) Net realized gain (loss) on foreign currency transactions 163,794 (631,506) Change in unrealized appreciation/depreciation of foreign currency translations 13,487 29,757 Total income (net) 62,827,654 (49,226,661) Expenses (Note 10) Management fees 412,794 330,078 Overdraft expenses 959 989 Independent Review Committee fees 1,341 1,352 Foreign withholding taxes 976,324 493,933 Transaction costs (Note 3) 3,380 4,735 Total expenses 1,394,798 831,087 Expenses absorbed or waived by manager (1,341) (1,352) Net expenses 1,393,457 829,735 Increase (decrease) in net assets attributable to holders of redeemable units $61,434,197 $(50,056,396) Weighted average number of redeemable units 10,711,188 10,200,687 Increase (decrease) in net assets attributable to holders of redeemable units per unit $5.74 $(4.91)

The accompanying notes are an integral part of the financial statements.

155 Vanguard FTSE Developed All Cap ex U.S. Index ETF (CAD-hedged)

Statement of Changes in Net Assets Attributable to Holders of Redeemable Units For the six months ended June 30, 2021, and June 30, 2020 (unaudited)

2021 2020 Net assets attributable to holders of redeemable units, beginning of period $431,936,430 $462,404,171 Increase (decrease) in net assets attributable to holders of redeemable units $61,434,197 $(50,056,396) Distributions to holders of redeemable units Net investment income (5,334,092) (2,967,128) Total distributions to holders of redeemable units (5,334,092) (2,967,128) Redeemable unit transactions Proceeds from issuance of redeemable units 50,187,218 16,121,090 Payment for redeemable units redeemed (8,355,253) (54,995,680) Net redeemable unit transactions 41,831,965 (38,874,590) Net assets attributable to holders of redeemable units, end of period $529,868,500 $370,506,057

Statement of Cash Flows For the six months ended June 30, 2021, and June 30, 2020 (unaudited)

2021 2020 Cash flows from (used in) operating activities Increase (decrease) in net assets attributable to holders of redeemable units $61,434,197 $(50,056,396) Adjustments for: Net realized (gain) loss on sale of investments (1,914,193) (596,375) Change in unrealized appreciation/depreciation of investments (26,240,102) 38,116,185 Change in unrealized appreciation/depreciation of derivatives 634,140 671,666 Change in unrealized appreciation/depreciation of foreign currency translations (13,487) (29,757) 1 Purchase of investments (30,832,881) (7,981,452) 2 Proceeds from sale of investments 1,548,754 26,506,949 Change in working capital 2,575,555 (1,583,283) Net cash from (used in) operating activities 7,191,983 5,047,537 Cash flows from (used in) financing activities 1 Proceeds from issuance of redeemable units 287,856 134,754 Distributions to holders of redeemable units, net of reinvested distributions (8,177,875) (6,547,822) 2 Payment for redeemable units redeemed (27,221) (149,015) Net cash from (used in) financing activities (7,917,240) (6,562,083) Change in unrealized appreciation/depreciation of foreign currency translations 13,487 29,757 Net increase (decrease) in cash during the period $(711,770) $(1,484,789) Cash, beginning of period $993,267 $117,568 Cash (overdraft), end of period $281,497 $(1,367,221) Supplemental cash flow information relating to operating activities Income distributions received, net of foreign withholding taxes, if applicable $8,600,620 $1,608,864 Interest received, net of foreign withholding taxes, if applicable — $1,149 Interest paid $959 $989

1 Excludes in-kind transactions of $49,899,362 and $15,986,336 for the periods ended June 30, 2021 and 2020. 2 Excludes in-kind transactions of $8,328,032 and $54,846,665 for the periods ended June 30, 2021 and 2020.

The accompanying notes are an integral part of the financial statements.

156 Vanguard FTSE Developed All Cap ex U.S. Index ETF (CAD-hedged)

Schedule of Investment Portfolio As at June 30, 2021 (unaudited)

Description Number of Units Cost ($) Fair Value ($) % of Net Assets Exchange-traded funds Vanguard FTSE Developed Markets ETF* 8,303,510 437,461,080 529,740,821 100.0 Total investments 437,461,080 529,740,821 100.0 Foreign currency contracts (Schedule 1) (1,954,772) (0.4) Other assets and liabilities (net) 2,082,451 0.4 Total net assets attributable to holders of redeemable units 529,868,500 100.0 * Affiliated fund. Refer to Note 10(b).

Schedule 1—Foreign Currency Contracts As at June 30, 2021 (unaudited)

Unrealized Appreciation Number of Settlement (Depreciation) Credit Contracts Contract Price Currency Sold Currency Bought Date ($) Rating* 1 EUR 0.679 Euro 91,300,222 Canadian Dollar 134,429,624 Jul 02/21 355,185 AA- 1 CAD 0.001 Canadian Dollar 28,543,914 South Korean Won 26,060,593,185 Jul 02/21 111,978 AA- 1 CHF 0.744 Swiss Franc 27,274,395 Canadian Dollar 36,634,562 Jul 02/21 96,581 AA- 1 GBP 0.584 Pound Sterling 38,754,408 Canadian Dollar 66,380,953 Jul 02/21 85,735 AA- 1 CAD 0.001 Canadian Dollar 28,427,127 South Korean Won 25,929,451,569 Jul 02/21 84,563 AA- 1 AUD 1.074 Australian Dollar 35,401,618 Canadian Dollar 32,974,164 Jul 02/21 62,910 AA- 1 SEK 6.887 Swedish Krona 120,960,577 Canadian Dollar 17,563,214 Jul 02/21 48,848 AA- 1 DKK 5.051 Danish Krone 50,438,371 Canadian Dollar 9,984,900 Jul 02/21 24,396 AA- 1 NZD 1.142 New Zealand Dollar 1,982,263 Canadian Dollar 1,735,987 Jul 02/21 20,810 AA- 1 NOK 6.916 Norwegian Krone 26,152,889 Canadian Dollar 3,781,249 Jul 02/21 17,813 AA- 1 PLN 3.047 Polish Zloty 4,425,947 Canadian Dollar 1,452,795 Jul 02/21 13,171 AA- 1 EUR 0.679 Euro 2,399,207 Canadian Dollar 3,532,712 Jul 02/21 9,475 A+ 1 GBP 0.580 Pound Sterling 353,817 Canadian Dollar 609,865 Jul 02/21 4,608 A+ 1 EUR 0.678 Euro 839,090 Canadian Dollar 1,236,790 Jul 02/21 4,585 A+ 1 CHF 0.744 Swiss Franc 1,002,428 Canadian Dollar 1,346,498 Jul 02/21 3,602 A+ 1 EUR 0.681 Euro 94,015,480 Canadian Dollar 138,150,294 Aug 03/21 3,509 AA- 1 JPY 89.397 Japanese Yen 86,770,803 Canadian Dollar 970,628 Jul 02/21 2,538 A+ 1 GBP 0.584 Pound Sterling 755,624 Canadian Dollar 1,294,266 Jul 02/21 1,659 A+ 1 GBP 0.582 Pound Sterling 181,849 Canadian Dollar 312,665 Jul 02/21 1,586 AA- 1 CHF 0.743 Swiss Franc 253,222 Canadian Dollar 340,762 Jul 02/21 1,534 A+ 1 EUR 0.679 Euro 431,261 Canadian Dollar 634,833 Jul 02/21 1,526 AA- 1 PLN 3.047 Polish Zloty 414,360 Canadian Dollar 136,002 Jul 02/21 1,224 A+ 1 JPY 89.431 Japanese Yen 44,596,936 Canadian Dollar 498,675 Jul 02/21 1,114 AA- 1 CHF 0.746 Swiss Franc 28,372,189 Canadian Dollar 38,039,614 Aug 03/21 1,105 AA- 1 AUD 1.074 Australian Dollar 613,796 Canadian Dollar 571,722 Jul 02/21 1,104 A+ 1 CHF 0.742 Swiss Franc 130,147 Canadian Dollar 175,305 Jul 02/21 954 AA- 1 CAD 0.001 Canadian Dollar 140,703 South Korean Won 128,827,454 Jul 02/21 954 AA- 1 EUR 0.678 Euro 147,753 Canadian Dollar 217,909 Jul 02/21 933 AA- 1 EUR 0.679 Euro 215,538 Canadian Dollar 317,435 Jul 02/21 918 AA- 1 SEK 6.887 Swedish Krona 2,191,303 Canadian Dollar 318,171 Jul 02/21 883 A+ 1 CAD 0.001 Canadian Dollar 254,996 South Korean Won 232,591,425 Jul 02/21 759 AA- 1 DKK 5.051 Danish Krone 1,536,312 Canadian Dollar 304,140 Jul 02/21 751 A+ 1 CAD 0.001 Canadian Dollar 195,715 South Korean Won 178,601,237 Jul 02/21 673 A+ 1 AUD 1.067 Australian Dollar 82,840 Canadian Dollar 77,636 Jul 02/21 623 AA- 1 EUR 0.680 Euro 300,416 Canadian Dollar 442,028 Aug 03/21 595 AA- 1 CAD 0.001 Canadian Dollar 62,977 South Korean Won 57,800,627 Jul 02/21 579 AA- 1 SEK 6.882 Swedish Krona 1,102,840 Canadian Dollar 160,242 Jul 02/21 557 A+

157 Vanguard FTSE Developed All Cap ex U.S. Index ETF (CAD-hedged)

Unrealized Appreciation Number of Settlement (Depreciation) Credit Contracts Contract Price Currency Sold Currency Bought Date ($) Rating* 1 CAD 0.011 Canadian Dollar 240,032 Japanese Yen 21,563,163 Jul 02/21 545 AA- 1 AUD 1.072 Australian Dollar 165,765 Canadian Dollar 154,642 Jul 02/21 539 AA- 1 CAD 0.144 Canadian Dollar 122,139 Swedish Krona 846,844 Jul 02/21 479 AA- 1 AUD 1.074 Australian Dollar 322,523 Canadian Dollar 300,298 Jul 02/21 463 A+ 1 CHF 0.743 Swiss Franc 65,033 Canadian Dollar 87,526 Jul 02/21 405 AA- 1 SEK 6.841 Swedish Krona 283,233 Canadian Dollar 41,403 Jul 02/21 392 AA- 1 CAD 0.001 Canadian Dollar 131,058 South Korean Won 119,543,263 Jul 02/21 390 AA- 1 JPY 89.511 Japanese Yen 31,184,970 Canadian Dollar 348,393 Aug 03/21 379 AA- 1 DKK 5.045 Danish Krone 465,440 Canadian Dollar 92,251 Jul 02/21 337 A+ 1 CAD 0.913 Canadian Dollar 35,708 Singapore Dollar 39,113 Jul 02/21 324 A+ 1 DKK 5.061 Danish Krone 52,149,973 Canadian Dollar 10,304,557 Aug 03/21 297 AA- 1 NOK 6.917 Norwegian Krone 393,816 Canadian Dollar 56,936 Jul 02/21 266 A+ 1 GBP 0.583 Pound Sterling 62,303 Canadian Dollar 106,823 Jul 02/21 244 AA- 1 GBP 0.584 Pound Sterling 125,490 Canadian Dollar 214,930 Aug 03/21 239 A+ 1 CHF 0.744 Swiss Franc 44,589 Canadian Dollar 59,942 Jul 02/21 208 A+ 1 CAD 1.208 Canadian Dollar 8,277 U.S. Dollar 6,851 Jul 02/21 207 A+ 1 CAD 0.001 Canadian Dollar 65,488 South Korean Won 59,734,437 Jul 02/21 195 AA- 1 CAD 1.340 Canadian Dollar 38,008,478 Swiss Franc 28,372,189 Jul 02/21 156 AA- 1 SEK 6.869 Swedish Krona 194,197 Canadian Dollar 28,273 Jul 02/21 155 AA- 1 CAD 0.930 Canadian Dollar 33,594,659 Australian Dollar 36,136,889 Jul 02/21 143 AA- 1 CAD 0.143 Canadian Dollar 26,127 Norwegian Krone 182,546 Jul 02/21 142 AA- 1 CAD 0.001 Canadian Dollar 47,740 South Korean Won 43,545,314 Jul 02/21 142 AA- 1 NOK 6.894 Norwegian Krone 122,184 Canadian Dollar 17,723 Jul 02/21 141 AA- 1 CAD 0.001 Canadian Dollar 44,902 South Korean Won 40,956,495 Jul 02/21 134 AA- 1 CHF 0.746 Swiss Franc 1,364,578 Canadian Dollar 1,829,615 Aug 03/21 129 AA- 1 NOK 6.853 Norwegian Krone 61,054 Canadian Dollar 8,909 Jul 02/21 124 AA- 1 DKK 5.052 Danish Krone 239,219 Canadian Dollar 47,353 Jul 02/21 112 AA- 1 CAD 0.159 Canadian Dollar 33,157 Hong Kong Dollar 208,626 Jul 06/21 110 AA- 1 AUD 1.075 Australian Dollar 115,824 Canadian Dollar 107,789 Aug 04/21 95 AA- 1 AUD 1.074 Australian Dollar 56,792 Canadian Dollar 52,885 Jul 02/21 88 AA- 1 CHF 0.745 Swiss Franc 93,772 Canadian Dollar 125,807 Aug 03/21 87 AA- 1 EUR 0.681 Euro 1,251,556 Canadian Dollar 1,839,126 Aug 03/21 84 AA- 1 SEK 6.895 Swedish Krona 390,637 Canadian Dollar 56,655 Aug 03/21 77 AA- 1 GBP 0.584 Pound Sterling 90,876 Canadian Dollar 155,526 Jul 02/21 69 AA- 1 DKK 5.049 Danish Krone 119,535 Canadian Dollar 23,673 Jul 02/21 67 AA- 1 DKK 5.043 Danish Krone 81,958 Canadian Dollar 16,251 Jul 02/21 66 A+ 1 CAD 1.469 Canadian Dollar 138,061,732 Euro 94,015,480 Jul 02/21 66 AA- 1 CAD 0.011 Canadian Dollar 108,469,084 Japanese Yen 9,722,192,491 Jul 02/21 66 AA- 1 HKD 6.262 Hong Kong Dollar 285,321 Canadian Dollar 45,565 Aug 03/21 66 A+ 1 CAD 0.159 Canadian Dollar 14,998,830 Hong Kong Dollar 94,063,365 Jul 06/21 50 AA- 1 NOK 6.940 Norwegian Krone 237,729 Canadian Dollar 34,257 Jul 02/21 48 A+ 1 PLN 3.036 Polish Zloty 11,132 Canadian Dollar 3,667 Jul 02/21 46 AA- 1 DKK 5.054 Danish Krone 170,857 Canadian Dollar 33,806 Aug 03/21 46 AA- 1 CAD 0.379 Canadian Dollar 13,365 Israeli Shekel 35,275 Jul 02/21 41 AA- 1 JPY 89.606 Japanese Yen 167,085,106 Canadian Dollar 1,864,659 Aug 03/21 41 AA- 1 CAD 0.918 Canadian Dollar 11,623 Singapore Dollar 12,659 Jul 02/21 39 AA- 1 CAD 0.324 Canadian Dollar 10,789 Polish Zloty 33,284 Jul 02/21 37 AA- 1 NOK 6.948 Norwegian Krone 26,636,236 Canadian Dollar 3,833,645 Aug 03/21 36 AA- 1 NZD 1.145 New Zealand Dollar 4,387 Canadian Dollar 3,831 Jul 02/21 35 AA- 1 NZD 1.141 New Zealand Dollar 3,008 Canadian Dollar 2,636 Jul 02/21 33 AA- 1 CAD 0.863 Canadian Dollar 11,318 New Zealand Dollar 13,119 Jul 02/21 33 AA-

158 Vanguard FTSE Developed All Cap ex U.S. Index ETF (CAD-hedged)

Unrealized Appreciation Number of Settlement (Depreciation) Credit Contracts Contract Price Currency Sold Currency Bought Date ($) Rating* 1 HKD 6.270 Hong Kong Dollar 839,518 Canadian Dollar 133,893 Jul 06/21 27 A+ 1 PLN 3.042 Polish Zloty 7,633 Canadian Dollar 2,509 Jul 02/21 26 A+ 1 PLN 3.069 Polish Zloty 43,346 Canadian Dollar 14,121 Jul 02/21 22 A+ 1 NOK 6.926 Norwegian Krone 41,861 Canadian Dollar 6,044 Jul 02/21 21 AA- 1 SEK 6.905 Swedish Krona 566,819 Canadian Dollar 82,091 Jul 02/21 19 AA- 1 SGD 1.085 Singapore Dollar 17,550 Canadian Dollar 16,183 Aug 03/21 16 AA- 1 CAD 0.380 Canadian Dollar 18,573 Israeli Shekel 48,904 Jul 02/21 11 A+ 1 CAD 0.921 Canadian Dollar 25,980 Singapore Dollar 28,214 Jul 02/21 11 AA- 1 NZD 1.155 New Zealand Dollar 17,084 Canadian Dollar 14,793 Jul 02/21 11 A+ 1 NOK 6.942 Norwegian Krone 85,421 Canadian Dollar 12,305 Aug 03/21 11 A+ 1 DKK 5.061 Danish Krone 2,031,757 Canadian Dollar 401,462 Aug 03/21 9 AA- 1 CAD 0.864 Canadian Dollar 8,180 New Zealand Dollar 9,463 Jul 02/21 8 AA- 1 NZD 1.154 New Zealand Dollar 6,244 Canadian Dollar 5,411 Aug 03/21 8 A+ 1 PLN 3.074 Polish Zloty 4,856,631 Canadian Dollar 1,579,973 Aug 03/21 5 AA- 1 CAD 0.197 Canadian Dollar 10,298,503 Danish Krone 52,149,973 Jul 02/21 5 AA- 1 CAD 1.234 Canadian Dollar 1,187 U.S. Dollar 962 Jul 02/21 4 AA- 1 CAD 0.865 Canadian Dollar 1,656,280 New Zealand Dollar 1,914,199 Jul 02/21 4 AA- 1 ILS 2.630 Israeli Shekel 22,329 Canadian Dollar 8,492 Aug 03/21 4 AA- 1 USD 0.806 U.S. Dollar 1,325 Canadian Dollar 1,644 Aug 03/21 3 A+ 1 CAD 0.325 Canadian Dollar 3,502 Polish Zloty 10,772 Jul 02/21 2 AA- 1 CAD 0.325 Canadian Dollar 1,579,711 Polish Zloty 4,856,631 Jul 02/21 2 AA- 1 SEK 6.904 Swedish Krona 310,452 Canadian Dollar 44,967 Aug 03/21 2 AA- 1 USD 0.807 U.S. Dollar 3,871 Canadian Dollar 4,794 Jul 02/21 1 A+ 1 GBP 0.585 Pound Sterling 151,781 Canadian Dollar 259,669 Aug 03/21 1 AA- 1 CAD 1.238 Canadian Dollar 2,654 U.S. Dollar 2,144 Jul 02/21 0 AA- 1 CAD 1.238 Canadian Dollar 537,013 U.S. Dollar 433,669 Jul 02/21 0 AA- 1 USD 0.808 U.S. Dollar 433,669 Canadian Dollar 537,022 Aug 03/21 0 AA- 1 USD 0.808 U.S. Dollar 2,854,665 Canadian Dollar 3,534,932 Jul 02/21 0 AA- Unrealized appreciation of foreign currency contracts 979,284 1 JPY 91.018 Japanese Yen 9,553,679,851 Canadian Dollar 104,964,961 Jul 02/21 (1,624,117) AA- 1 KRW 927.420 South Korean Won 25,929,451,569 Canadian Dollar 27,958,694 Jul 02/21 (552,997) AA- 1 HKD 6.425 Hong Kong Dollar 92,698,327 Canadian Dollar 14,428,754 Jul 06/21 (352,464) AA- 1 KRW 913.170 South Korean Won 26,060,593,185 Canadian Dollar 28,538,600 Aug 03/21 (112,944) AA- 1 KRW 912.138 South Korean Won 26,060,593,185 Canadian Dollar 28,570,901 Jul 02/21 (84,991) AA- 1 ILS 2.689 Israeli Shekel 6,766,398 Canadian Dollar 2,515,869 Jul 02/21 (55,507) AA- 1 SGD 1.095 Singapore Dollar 5,727,448 Canadian Dollar 5,228,851 Jul 02/21 (47,372) AA- 1 JPY 91.015 Japanese Yen 135,833,871 Canadian Dollar 1,492,436 Jul 02/21 (23,044) A+ 1 USD 0.828 U.S. Dollar 439,063 Canadian Dollar 530,414 Jul 02/21 (13,278) AA- 1 CAD 0.011 Canadian Dollar 752,525 Japanese Yen 66,629,167 Jul 02/21 (9,153) A+ 1 CAD 1.477 Canadian Dollar 951,336 Euro 644,317 Jul 02/21 (5,156) A+ 1 HKD 6.424 Hong Kong Dollar 1,048,867 Canadian Dollar 163,261 Jul 06/21 (3,986) A+ 1 CAD 0.011 Canadian Dollar 540,057 Japanese Yen 48,060,506 Jul 02/21 (3,852) AA- 1 CAD 1.241 Canadian Dollar 1,613,304 U.S. Dollar 1,300,000 Jul 02/21 (3,514) A+ 1 KRW 913.250 South Korean Won 767,804,990 Canadian Dollar 840,739 Aug 03/21 (3,401) AA- 1 CAD 1.475 Canadian Dollar 685,517 Euro 464,754 Jul 02/21 (3,025) AA- 1 KRW 919.750 South Korean Won 232,591,425 Canadian Dollar 252,885 Jul 02/21 (2,869) AA- 1 ILS 2.690 Israeli Shekel 345,458 Canadian Dollar 128,441 Jul 02/21 (2,840) A+ 1 JPY 90.869 Japanese Yen 15,279,274 Canadian Dollar 168,147 Jul 02/21 (2,322) A+ 1 JPY 90.463 Japanese Yen 22,284,592 Canadian Dollar 246,339 Jul 02/21 (2,287) AA- 1 CAD 1.719 Canadian Dollar 467,011 Pound Sterling 271,688 Jul 02/21 (2,249) A+ 1 CAD 1.722 Canadian Dollar 337,374 Pound Sterling 195,972 Jul 02/21 (2,135) AA-

159 Vanguard FTSE Developed All Cap ex U.S. Index ETF (CAD-hedged)

Unrealized Appreciation Number of Settlement (Depreciation) Credit Contracts Contract Price Currency Sold Currency Bought Date ($) Rating* 1 CAD 1.350 Canadian Dollar 262,453 Swiss Franc 194,443 Jul 02/21 (1,968) A+ 1 JPY 89.610 Japanese Yen 9,722,192,491 Canadian Dollar 108,494,867 Aug 03/21 (1,818) AA- 1 KRW 919.200 South Korean Won 119,543,263 Canadian Dollar 130,051 Jul 02/21 (1,397) AA- 1 AUD 1.076 Australian Dollar 36,136,889 Canadian Dollar 33,599,212 Aug 04/21 (1,323) AA- 1 CAD 1.348 Canadian Dollar 189,119 Swiss Franc 140,255 Jul 02/21 (1,228) AA- 1 GBP 0.585 Pound Sterling 39,643,292 Canadian Dollar 67,821,387 Aug 03/21 (972) AA- 1 KRW 920.800 South Korean Won 59,734,437 Canadian Dollar 64,872 Jul 02/21 (811) AA- 1 HKD 6.423 Hong Kong Dollar 215,606 Canadian Dollar 33,569 Jul 06/21 (811) AA- 1 CAD 0.876 Canadian Dollar 65,245 New Zealand Dollar 74,497 Jul 02/21 (786) A+ 1 KRW 922.700 South Korean Won 43,545,314 Canadian Dollar 47,193 Jul 02/21 (688) AA- 1 CAD 1.472 Canadian Dollar 306,880 Euro 208,520 Jul 02/21 (668) AA- 1 KRW 922.310 South Korean Won 40,956,495 Canadian Dollar 44,406 Jul 02/21 (629) AA- 1 CAD 0.160 Canadian Dollar 103,400 Hong Kong Dollar 644,645 Jul 06/21 (608) A+ 1 KRW 912.138 South Korean Won 178,601,237 Canadian Dollar 195,805 Jul 02/21 (582) A+ 1 HKD 6.423 Hong Kong Dollar 147,829 Canadian Dollar 23,015 Jul 06/21 (557) AA- 1 CAD 0.932 Canadian Dollar 230,758 Australian Dollar 247,657 Jul 02/21 (523) A+ 1 HKD 6.271 Hong Kong Dollar 94,063,365 Canadian Dollar 14,999,548 Aug 03/21 (437) AA- 1 KRW 912.138 South Korean Won 128,827,454 Canadian Dollar 141,237 Jul 02/21 (420) AA- 1 CAD 0.935 Canadian Dollar 74,910 Australian Dollar 80,149 Jul 02/21 (399) AA- 1 CAD 0.199 Canadian Dollar 70,961 Danish Krone 357,400 Jul 02/21 (382) A+ 1 CAD 0.932 Canadian Dollar 166,453 Australian Dollar 178,638 Jul 02/21 (381) AA- 1 CAD 1.715 Canadian Dollar 150,751 Pound Sterling 87,926 Jul 02/21 (340) AA- 1 HKD 6.300 Hong Kong Dollar 431,481 Canadian Dollar 68,492 Jul 06/21 (309) AA- 1 KRW 912.000 South Korean Won 84,601,001 Canadian Dollar 92,764 Aug 03/21 (248) AA- 1 CAD 0.146 Canadian Dollar 39,926 Swedish Krona 274,064 Jul 02/21 (243) AA- 1 CAD 0.198 Canadian Dollar 51,135 Danish Krone 257,797 Jul 02/21 (225) AA- 1 CAD 1.343 Canadian Dollar 84,498 Swiss Franc 62,928 Jul 02/21 (197) AA- 1 KRW 912.138 South Korean Won 57,800,627 Canadian Dollar 63,368 Jul 02/21 (188) AA- 1 SGD 1.086 Singapore Dollar 5,707,520 Canadian Dollar 5,257,407 Aug 03/21 (174) AA- 1 CAD 0.925 Canadian Dollar 36,186 Singapore Dollar 39,115 Jul 02/21 (152) A+ 1 ILS 2.687 Israeli Shekel 16,356 Canadian Dollar 6,086 Jul 02/21 (130) AA- 1 SGD 1.096 Singapore Dollar 13,082 Canadian Dollar 11,940 Jul 02/21 (112) AA- 1 ILS 2.689 Israeli Shekel 11,215 Canadian Dollar 4,171 Jul 02/21 (91) A+ 1 ILS 2.648 Israeli Shekel 32,733 Canadian Dollar 12,359 Jul 02/21 (80) AA- 1 SGD 1.087 Singapore Dollar 50,940 Canadian Dollar 46,855 Jul 02/21 (72) A+ 1 SGD 1.095 Singapore Dollar 8,970 Canadian Dollar 8,192 Jul 02/21 (71) AA- 1 SEK 6.904 Swedish Krona 123,567,221 Canadian Dollar 17,896,867 Aug 03/21 (64) AA- 1 CAD 0.145 Canadian Dollar 8,557 Norwegian Krone 59,077 Jul 02/21 (56) AA- 1 SGD 1.088 Singapore Dollar 26,181 Canadian Dollar 24,067 Jul 02/21 (51) AA- 1 CAD 0.198 Canadian Dollar 22,892 Danish Krone 115,665 Jul 02/21 (50) AA- 1 PLN 3.090 Polish Zloty 22,278 Canadian Dollar 7,210 Jul 02/21 (36) AA- 1 CAD 0.145 Canadian Dollar 88,481 Swedish Krona 610,840 Jul 02/21 (35) AA- 1 USD 0.828 U.S. Dollar 994 Canadian Dollar 1,201 Jul 02/21 (30) AA- 1 CAD 0.144 Canadian Dollar 18,975 Norwegian Krone 131,673 Jul 02/21 (27) AA- 1 NZD 1.156 New Zealand Dollar 1,914,199 Canadian Dollar 1,656,204 Aug 03/21 (21) AA- 1 ILS 2.631 Israeli Shekel 7,135,841 Canadian Dollar 2,712,438 Aug 03/21 (21) AA- 1 USD 0.828 U.S. Dollar 682 Canadian Dollar 823 Jul 02/21 (20) A+ 1 CAD 1.245 Canadian Dollar 3,701 U.S. Dollar 2,972 Jul 02/21 (20) AA- 1 CAD 0.870 Canadian Dollar 3,692 New Zealand Dollar 4,246 Jul 02/21 (18) AA- 1 USD 0.811 U.S. Dollar 1,989 Canadian Dollar 2,452 Jul 02/21 (12) AA- 1 ILS 2.632 Israeli Shekel 63,688 Canadian Dollar 24,193 Jul 02/21 (10) A+

160 Vanguard FTSE Developed All Cap ex U.S. Index ETF (CAD-hedged)

Unrealized Appreciation Number of Settlement (Depreciation) Credit Contracts Contract Price Currency Sold Currency Bought Date ($) Rating* 1 CAD 1.711 Canadian Dollar 67,815,797 Pound Sterling 39,643,292 Jul 02/21 (10) AA- 1 AUD 1.076 Australian Dollar 592,720 Canadian Dollar 551,110 Aug 04/21 (9) AA- 1 CAD 0.145 Canadian Dollar 17,891,801 Swedish Krona 123,567,220 Jul 02/21 (9) AA- 1 CAD 0.325 Canadian Dollar 7,814 Polish Zloty 24,008 Jul 02/21 (5) AA- 1 CAD 0.380 Canadian Dollar 6,019 Israeli Shekel 15,827 Jul 02/21 (5) AA- 1 CAD 0.159 Canadian Dollar 74,149 Hong Kong Dollar 464,991 Jul 06/21 (4) AA- 1 CAD 0.159 Canadian Dollar 571,431 Hong Kong Dollar 3,583,357 Aug 03/21 (4) AA- 1 NZD 1.156 New Zealand Dollar 8,781 Canadian Dollar 7,595 Jul 02/21 (3) AA- 1 CAD 0.380 Canadian Dollar 20,930 Israeli Shekel 55,054 Aug 03/21 (3) AA- 1 CAD 0.144 Canadian Dollar 3,832,993 Norwegian Krone 26,636,236 Jul 02/21 (2) AA- 1 CAD 0.921 Canadian Dollar 5,257,867 Singapore Dollar 5,707,520 Jul 02/21 (2) AA- 1 CAD 0.921 Canadian Dollar 130,864 Singapore Dollar 142,061 Aug 03/21 (2) AA- 1 NOK 6.948 Norwegian Krone 452,212 Canadian Dollar 65,084 Aug 03/21 (1) AA- 1 PLN 3.074 Polish Zloty 80,459 Canadian Dollar 26,174 Aug 03/21 (1) AA- 1 NZD 1.156 New Zealand Dollar 66,001 Canadian Dollar 57,105 Aug 03/21 (1) AA- 1 PLN 3.074 Polish Zloty 15,569 Canadian Dollar 5,064 Aug 03/21 (1) AA- 1 CAD 1.238 Canadian Dollar 16,581 U.S. Dollar 13,390 Aug 03/21 (0) AA- 1 CAD 0.380 Canadian Dollar 2,711,773 Israeli Shekel 7,135,841 Jul 02/21 (0) AA- Unrealized depreciation of foreign currency contracts (2,934,056) Net unrealized depreciation of foreign currency contracts (1,954,772)

* Sources: Standard & Poor’s and Fitch.

161 Vanguard FTSE Developed All Cap ex U.S. Index ETF (CAD-hedged)

Fund-Specific Notes—Concentration Risk As at June 30, 2021 (unaudited), and December 31, 2020 % of net assets attributable to holders of redeemable units

June 30, December 31, Sector Allocation 2021 2020 Underlying U.S.-domiciled Vanguard Fund Financials 17.2 16.6 Industrials 16.5 16.6 Consumer Discretionary 14.5 14.0 Health Care 10.4 11.0 Technology 10.3 10.1 Consumer Staples 7. 9 8. 3 Basic Materials 7. 4 7. 6 Energy 4.3 4.1 Real Estate 4.0 3.7 Telecommunications 3.2 3.3 Utilities 3.2 3.6 Other assets and liabilities (net) 1.1 1.1 100.0 100.0

% of investment portfolio

June 30, December 31, Market Allocation 2021 2020 Underlying U.S.-domiciled Vanguard Fund Japan 20.9 22.5 United Kingdom 12.8 12.6 Canada 9.2 8.3 France 8.4 8.2 Germany 7. 5 7. 6 Switzerland 7. 5 7. 7 Australia 6.5 6.5 South Korea 5.5 5.6 Netherlands 3.5 3.2 Sweden 3.4 3.2 Hong Kong 2.8 2.8 Italy 2.2 2.1 Denmark 2.0 2.0 Spain 2.0 2.0 Finland 1. 2 1. 1 Singapore 1. 0 1. 0 Other 3.6 3.6 100.0 100.0

162 Vanguard FTSE Developed Asia Pacific All Cap Index ETF

Statement of Financial Position As at June 30, 2021 (unaudited), and December 31, 2020

June 30, December 31, 2021 2020 Assets Current assets Investments $99,765,193 $83,926,139 Cash 1,336,345 506,840 Amounts receivable for redeemable units issued 3,878,550 — Amounts receivable for investments sold 30,614 543,400 Margin due from brokers 90,232 25,101 Dividends receivable 156,912 161,066 Unrealized appreciation of foreign currency contracts 2,969 11,084 Unrealized appreciation of futures contracts 1,605 12,935 Other assets 2,327 — Total assets 105,264,747 85,186,565 Liabilities Current liabilities Amounts payable for investments purchased 3,946,269 3,369 Distributions payable 715,074 599,581 Accrued expenses and other liabilities 10,735 3,733 Unrealized depreciation of foreign currency contracts 25,730 12,205 Unrealized depreciation of futures contracts 5,728 1,789 Total liabilities excluding net assets attributable to holders of redeemable units 4,703,536 620,677 Total net assets attributable to holders of redeemable units $100,561,211 $84,565,888 Number of redeemable units outstanding (Note 9) 2,620,000 2,220,000 Net assets attributable to holders of redeemable units per unit $38.38 $38.09

The accompanying notes are an integral part of the financial statements.

163 Vanguard FTSE Developed Asia Pacific All Cap Index ETF

Statement of Comprehensive Income For the six months ended June 30, 2021, and June 30, 2020 (unaudited)

2021 2020 Income Net gain (loss) on investments Dividend income $1,271,062 $1,251,465 Interest for distribution purposes 10 69 Net realized gain (loss) on sale of investments 598,161 (731,418) Change in unrealized appreciation/depreciation of investments (453,422) (3,792,665) Net gain (loss) on investments 1,415,811 (3,272,549) Net gain (loss) on derivatives Net realized gain (loss) on foreign currency contracts 1,425 (55,241) Net realized gain (loss) on futures contracts 93,845 27,341 Change in unrealized appreciation/depreciation of foreign currency contracts (21,640) 24,494 Change in unrealized appreciation/depreciation of futures contracts (15,269) 15,885 Net gain (loss) on derivatives 58,361 12,479 Other income 9,391 12,916 Net realized gain (loss) on foreign currency transactions (43,361) (58,433) Change in unrealized appreciation/depreciation of foreign currency translations 21,677 11,107 Total income (net) 1,461,879 (3,294,480) Expenses (Note 10) Management fees 102,521 100,513 Overdraft expenses 51 321 Independent Review Committee fees 1,341 1,352 Foreign withholding taxes 132,019 127,459 Transaction costs (Note 3) 7,668 9,685 Total expenses 243,600 239,330 Expenses absorbed or waived by manager (1,341) (1,352) Net expenses 242,259 237,978 Increase (decrease) in net assets attributable to holders of redeemable units $1,219,620 $(3,532,458) Weighted average number of redeemable units 2,428,287 2,823,297 Increase (decrease) in net assets attributable to holders of redeemable units per unit $0.50 $(1.25)

The accompanying notes are an integral part of the financial statements.

164 Vanguard FTSE Developed Asia Pacific All Cap Index ETF

Statement of Changes in Net Assets Attributable to Holders of Redeemable Units For the six months ended June 30, 2021, and June 30, 2020 (unaudited)

2021 2020 Net assets attributable to holders of redeemable units, beginning of period $84,565,888 $93,507,072 Increase (decrease) in net assets attributable to holders of redeemable units $1,219,620 $(3,532,458) Distributions to holders of redeemable units Net investment income (875,727) (869,442) Total distributions to holders of redeemable units (875,727) (869,442) Redeemable unit transactions Proceeds from issuance of redeemable units 15,651,430 15,072,761 Payment for redeemable units redeemed — (5,531,520) Net redeemable unit transactions 15,651,430 9,541,241 Net assets attributable to holders of redeemable units, end of period $100,561,211 $98,646,413

Statement of Cash Flows For the six months ended June 30, 2021, and June 30, 2020 (unaudited)

2021 2020 Cash flows from (used in) operating activities Increase (decrease) in net assets attributable to holders of redeemable units $1,219,620 $(3,532,458) Adjustments for: Net realized (gain) loss on sale of investments (598,161) 731,418 Change in unrealized appreciation/depreciation of investments 453,422 3,792,665 Change in unrealized appreciation/depreciation of derivatives 36,909 (40,379) Change in unrealized appreciation/depreciation of foreign currency translations (21,677) (11,107) Purchase of investments (15,267,607) (16,617,495) Proceeds from sale of investments 4,028,978 7,434,251 Change in working capital (56,302) 59,759 Net cash from (used in) operating activities (10,204,818) (8,183,346) Cash flows from (used in) financing activities Proceeds from issuance of redeemable units 11,772,880 15,072,761 Distributions to holders of redeemable units, net of reinvested distributions (760,234) (847,924) Payment for redeemable units redeemed — (5,531,520) Net cash from (used in) financing activities 11,012,646 8,693,317 Change in unrealized appreciation/depreciation of foreign currency translations 21,677 11,107 Net increase (decrease) in cash during the period $829,505 $521,078 Cash, beginning of period $506,840 $526,444 Cash, end of period $1,336,345 $1,047,522 Supplemental cash flow information relating to operating activities Dividends received, net of foreign withholding taxes, if applicable $1,143,197 $1,176,961 Interest received, net of foreign withholding taxes, if applicable $10 $69 Interest paid $51 $321

The accompanying notes are an integral part of the financial statements.

165 Vanguard FTSE Developed Asia Pacific All Cap Index ETF

Schedule of Investment Portfolio As at June 30, 2021 (unaudited)

Description Number of Shares Cost ($) Fair Value ($) % of Net Assets Equities Basic Materials BHP Group Ltd. 27,286 819,931 1,232,053 1.2 Shin-Etsu Chemical Co. Ltd. 3,629 494,589 752,272 0.8 Rio Tinto Ltd. 3,442 271,591 405,231 0.4 LG Chem Ltd. 420 229,146 392,553 0.4 Fortescue Metals Group Ltd. 14,737 120,447 319,765 0.3 POSCO 601 191,483 229,976 0.2 Newcrest Mining Ltd. 7,678 172,822 180,446 0.2 Nippon Steel Corp. 7,555 185,272 157,917 0.2 Asahi Kasei Corp. 11,541 154,804 157,153 0.2 Nitto Denko Corp. 1,326 128,744 122,642 0.1 South32 Ltd. 44,043 117,198 119,968 0.1 Mitsubishi Chemical Holdings Corp. 11,500 118,510 119,772 0.1 Toray Industries, Inc. 13,700 144,984 112,971 0.1 Sumitomo Metal Mining Co. Ltd. 2,200 99,702 106,158 0.1 Northern Star Resources Ltd. 10,748 98,926 97,721 0.1 BlueScope Steel Ltd. 4,720 58,332 96,360 0.1 Sumitomo Chemical Co. Ltd. 13,800 89,321 90,685 0.1 Nissan Chemical Corp. 1,200 59,614 72,832 0.1 JFE Holdings, Inc. 4,800 98,400 69,672 0.1 Mitsui Chemicals, Inc. 1,600 53,103 68,458 0.1 Evolution Mining Ltd. 15,473 60,502 64,730 0.1 Mineral Resources Ltd. 1,290 24,866 64,436 0.1 JSR Corp. 1,700 44,570 63,728 0.1 OZ Minerals Ltd. 3,044 32,141 63,615 0.1 Oji Holdings Corp. 8,200 58,891 58,368 0.1 Tosoh Corp. 2,581 53,870 55,173 0.1 Showa Denko KK 1,400 51,974 51,545 0.1 Lynas Rare Earths Ltd. 8,726 26,772 46,320 0.1 Hitachi Metals Ltd. 1,900 33,496 45,025 0.1 Mitsubishi Gas Chemical Co. Inc. 1,700 43,977 44,685 0.1 Orica Ltd. 3,617 60,769 44,655 0.1 Hanwha Chemical Corp. 903 34,826 44,235 0.1 NSK Ltd. 4,200 55,538 44,000 0.1 Hyundai Steel Co. 716 27,601 42,278 0.1 Korea Zinc Co. Ltd. 88 46,816 41,754 0.1 Incitec Pivot Ltd. 17,924 46,572 39,658 0.1 Independence Group NL 5,544 27,381 39,325 0.1 Kuraray Co. Ltd. 3,300 58,582 39,284 0.1 NOF Corp. 600 23,640 38,759 0.1 Alumina Ltd. 24,466 43,507 37,415 0.1 Lotte Chemical Corp. 128 50,418 36,946 0.1 Kumho Petrochemical Co. Ltd. 149 17,928 35,881 0.1 POSCO Chemical Co. Ltd. 225 13,615 35,627 0.1 Nippon Sanso Holdings Corp. 1,400 27,528 35,566 0.1 LG Chem Ltd. Pfd. 81 21,404 34,157 0.1 Denka Co. Ltd. 800 32,679 32,980 0.1 Tokai Carbon Co. Ltd. 1,900 27,976 32,475 0.0 SKC Co. Ltd. 186 14,682 32,417 0.0 Pilbara Minerals Ltd. 23,698 19,224 31,945 0.0 Tokyo Ohka Kogyo Co. Ltd. 394 21,720 30,815 0.0 Iluka Resources Ltd. 3,579 31,983 30,444 0.0 Teijin Ltd. 1,600 37,726 30,222 0.0 Air Water, Inc. 1,570 33,423 29,918 0.0 Daicel Corp. 2,600 32,117 26,513 0.0 Kaneka Corp. 526 26,361 26,262 0.0 Champion Iron Ltd. 4,261 9,478 25,273 0.0 Ube Industries Ltd. 1,000 28,290 25,092 0.0 DIC Corp. 700 25,786 21,906 0.0 SK Chemicals Co. Ltd. 76 10,344 21,728 0.0 Huabao International Holdings Ltd. 7,000 6,926 20,895 0.0 Kobe Steel Ltd. 2,600 30,751 20,683 0.0 Zeon Corp. 1,192 18,686 20,441 0.0 Nagase & Co. Ltd. 1,100 20,915 20,348 0.0 Chalice Mining Ltd. 2,848 13,199 19,646 0.0 Dowa Holdings Co. Ltd. 400 18,671 19,524 0.0 OCI Co. Ltd. 147 19,071 18,993 0.0

166 Vanguard FTSE Developed Asia Pacific All Cap Index ETF

Description Number of Shares Cost ($) Fair Value ($) % of Net Assets Nippon Shokubai Co. Ltd. 318 24,468 18,946 0.0 GeneOne Life Science, Inc. 359 11,847 18,672 0.0 ADEKA Corp. 800 16,057 18,610 0.0 Daido Steel Co. Ltd. 303 16,761 18,559 0.0 Hansol Chemical Co. Ltd. 66 8,385 17,817 0.0 SK Materials Co. Ltd. 46 8,513 17,810 0.0 Mitsui Mining & Smelting Co. Ltd. 490 23,580 16,838 0.0 Kolon Industries, Inc. 186 14,426 16,525 0.0 Sumitomo Bakelite Co. Ltd. 300 12,439 16,434 0.0 Nippon Kayaku Co. Ltd. 1,376 20,255 16,119 0.0 Orocobre Ltd. 2,641 14,381 15,885 0.0 Soulbrain Co. Ltd. 42 9,384 15,180 0.0 Asahi Holdings, Inc. 600 10,058 15,169 0.0 Tokuyama Corp. 601 17,855 15,167 0.0 Deterra Royalties Ltd. 3,579 16,323 14,973 0.0 Perseus Mining Ltd. 10,998 5,493 14,928 0.0 Maruichi Steel Tube Ltd. 500 18,285 14,554 0.0 Daio Paper Corp. 700 10,733 14,362 0.0 Galaxy Resources Ltd. 3,995 11,206 13,630 0.0 Lintec Corp. 500 15,727 13,444 0.0 NTN Corp. 4,000 18,099 12,942 0.0 Toagosei Co. Ltd. 1,000 14,236 12,596 0.0 Dongkuk Steel Mill Co. Ltd. 515 2,686 12,572 0.0 Yamato Kogyo Co. Ltd. 300 10,129 12,300 0.0 Lotte Fine Chemical Co. Ltd. 166 10,533 12,047 0.0 Piedmont Lithium, Inc. CDI 12,634 11,965 12,039 0.0 Toyobo Co. Ltd. 800 15,717 11,898 0.0 Taiyo Holdings Co. Ltd. 200 12,501 11,715 0.0 Nippon Light Metal Holdings Co. Ltd. 560 15,135 11,683 0.0 De Grey Mining Ltd. 10,078 13,999 11,571 0.0 Nufarm Ltd. 2,699 20,845 11,492 0.0 Ramelius Resources Ltd. 7,267 8,254 11,451 0.0 Lee & Man Paper Manufacturing Ltd. 12,000 12,618 11,309 0.0 Fujimi, Inc. 200 5,073 11,291 0.0 Sandfire Resources NL 1,727 11,797 10,966 0.0 MMG Ltd. 20,005 11,972 10,909 0.0 Regis Resources Ltd. 4,896 16,181 10,742 0.0 Nickel Mines Ltd. 11,272 8,096 10,374 0.0 Silver Lake Resources Ltd. 6,453 6,434 9,958 0.0 Tokyo Steel Manufacturing Co. Ltd. 800 8,341 9,889 0.0 Poongsan Corp. 235 11,518 9,858 0.0 Seiren Co. Ltd. 400 8,016 9,791 0.0 Nippon Soda Co. Ltd. 272 10,299 9,756 0.0 Nippon Paper Industries Co. Ltd. 700 13,768 9,715 0.0 Nanofilm Technologies International Ltd. 1,900 9,522 9,609 0.0 Inabata & Co. Ltd. 500 8,675 9,545 0.0 UACJ Corp. 300 9,469 9,315 0.0 Fuso Chemical Co. Ltd. 200 6,551 9,149 0.0 Hokuetsu Corp. 1,400 11,381 9,012 0.0 Kanto Denka Kogyo Co. Ltd. 800 8,669 8,845 0.0 St. Barbara Ltd. 5,510 15,030 8,734 0.0 Kumiai Chemical Industry Co. Ltd. 914 8,092 8,668 0.0 KH Neochem Co. Ltd. 300 9,098 8,639 0.0 Earth Corp. 120 8,056 8,635 0.0 Skellerup Holdings Ltd. 1,983 7,614 8,579 0.0 Daejoo Electronic Materials Co. Ltd. 161 7,681 8,533 0.0 Gold Road Resources Ltd. 7,278 5,333 8,525 0.0 Australian Strategic Materials Ltd. 1,117 5,723 8,100 0.0 JCU Corp. 200 5,606 7,988 0.0 Nitto Boseki Co. Ltd. 200 5,968 7,654 0.0 Yodogawa Steel Works Ltd. 300 10,854 7,494 0.0 Tri Chemical Laboratories, Inc. 200 10,642 7,341 0.0 Chunbo Co. Ltd. 35 7,151 7,043 0.0 Hyosung Chemical Corp. 18 2,385 6,927 0.0 Dongjin Semichem Co. Ltd. 216 7,686 6,805 0.0 Mount Gibson Iron Ltd. 7,668 3,503 6,737 0.0 Korea Petrochemical Ind Co. Ltd. 25 7,726 6,543 0.0 Nittetsu Mining Co. Ltd. 100 8,494 6,415 0.0 Taekwang Industrial Co. Ltd. 5 6,369 6,411 0.0 Sanyo Chemical Industries Ltd. 106 6,550 6,398 0.0 Huchems Fine Chemical Corp. 247 6,168 6,328 0.0 Toyo Tanso Co. Ltd. 200 6,232 6,257 0.0 ENF Technology Co. Ltd. 157 7,275 6,146 0.0 Shikoku Chemicals Corp. 400 8,529 5,846 0.0

167 Vanguard FTSE Developed Asia Pacific All Cap Index ETF

Description Number of Shares Cost ($) Fair Value ($) % of Net Assets Nitta Corp. 200 8,592 5,795 0.0 Ecopro Co. Ltd. 116 7,269 5,772 0.0 West African Resources Ltd. 6,009 6,643 5,558 0.0 T Hasegawa Co. Ltd. 200 4,705 5,489 0.0 Bellevue Gold Ltd. 6,144 6,941 5,426 0.0 Osaka Soda Co. Ltd. 200 6,502 5,420 0.0 Konishi Co. Ltd. 300 5,937 5,402 0.0 Capricorn Metals Ltd. 3,058 6,542 5,401 0.0 Japan Wool Textile Co. Ltd. 500 6,413 5,394 0.0 Alkane Resources Ltd. 5,033 6,996 5,381 0.0 Oiles Corp. 300 7,366 5,181 0.0 SK Discovery Co. Ltd. 87 6,140 5,061 0.0 Ishihara Sangyo Kaisha Ltd. 400 5,937 4,994 0.0 Westgold Resources Ltd. 2,850 5,367 4,981 0.0 Fujibo Holdings, Inc. 114 5,032 4,922 0.0 Osaka Organic Chemical Industry Ltd. 100 3,719 4,909 0.0 Alconix Corp. 300 8,250 4,903 0.0 Nippon Steel Trading Corp. 100 4,090 4,876 0.0 Western Areas Ltd. 2,184 6,409 4,853 0.0 Valqua Ltd. 200 5,500 4,849 0.0 Tokushu Tokai Paper Co. Ltd. 100 5,518 4,786 0.0 Kuk-il Paper Manufacturing Co. Ltd. 757 3,581 4,753 0.0 Nippon Carbon Co. Ltd. 100 5,233 4,675 0.0 Ryobi Ltd. 268 8,302 4,638 0.0 Toho Titanium Co. Ltd. 400 4,765 4,610 0.0 Shin-Etsu Polymer Co. Ltd. 400 4,433 4,579 0.0 Sanyo Special Steel Co. Ltd. 250 8,280 4,496 0.0 Seah Besteel Corp. 128 4,354 4,462 0.0 Sumitomo Seika Chemicals Co. Ltd. 111 6,979 4,458 0.0 Resolute Mining Ltd. 9,490 9,004 4,455 0.0 Nippon Yakin Kogyo Co. Ltd. 170 3,794 4,305 0.0 Young Poong Corp. 6 7,615 4,269 0.0 Aichi Steel Corp. 125 6,619 4,254 0.0 Kurabo Industries Ltd. 200 7,049 4,244 0.0 Aurelia Metals Ltd. 11,039 8,248 4,208 0.0 Nippon Denko Co. Ltd. 1,200 4,986 4,110 0.0 Komatsu Matere Co. Ltd. 400 3,814 4,025 0.0 Texhong Textile Group Ltd. 2,000 3,806 4,005 0.0 Ecopro HN Co. Ltd. 23 2,999 3,993 0.0 Japan Pulp and Paper Co. Ltd. 100 5,083 3,938 0.0 Stella Chemifa Corp. 121 5,136 3,891 0.0 Perenti Global Ltd. 5,986 11,322 3,728 0.0 Toho Zinc Co. Ltd. 175 9,313 3,673 0.0 Syrah Resources Ltd. 3,807 14,368 3,663 0.0 Okabe Co. Ltd. 507 5,808 3,643 0.0 DKS Co. Ltd. 100 5,687 3,615 0.0 Hansol Paper Co. Ltd. 185 4,218 3,326 0.0 Foosung Co. Ltd. 275 3,070 3,281 0.0 Kyoei Steel Ltd. 200 4,025 3,231 0.0 Unitika Ltd. 785 6,594 3,083 0.0 Takasago International Corp. 100 3,088 3,012 0.0 Topy Industries Ltd. 200 7,477 2,892 0.0 Macmahon Holdings Ltd. 16,338 2,818 2,886 0.0 Kolon Corp. 76 5,487 2,875 0.0 Tayca Corp. 200 6,825 2,863 0.0 Jupiter Mines Ltd. 10,458 3,901 2,819 0.0 Andromeda Metals Ltd. 19,787 7,857 2,759 0.0 Arakawa Chemical Industries Ltd. 200 4,859 2,660 0.0 Matsuda Sangyo Co. Ltd. 100 1,760 2,395 0.0 Nihon Nohyaku Co. Ltd. 400 2,839 2,249 0.0 Texwinca Holdings Ltd. 8,000 6,493 2,194 0.0 Soulbrain Holdings Co. Ltd. 52 5,912 2,116 0.0 Tomoku Co. Ltd. 100 2,383 2,115 0.0 Chori Co. Ltd. 100 1,923 1,919 0.0 Pacific Metals Co. Ltd. 100 2,972 1,899 0.0 MACA Ltd. 2,625 4,173 1,842 0.0 Songwon Industrial Co. Ltd. 85 1,753 1,809 0.0 Namsun Aluminum Co. Ltd. 427 2,435 1,798 0.0 OSAKA Titanium Technologies Co. Ltd. 200 4,844 1,767 0.0 New Century Resources Ltd. 7,795 1,359 1,558 0.0 Dacian Gold Ltd. 6,076 2,334 1,469 0.0 Osaka Steel Co. Ltd. 100 2,579 1,244 0.0 Juno Minerals Ltd. 640 122 116 0.0 6,365,077 7,691,217 7.6

168 Vanguard FTSE Developed Asia Pacific All Cap Index ETF

Description Number of Shares Cost ($) Fair Value ($) % of Net Assets Consumer Discretionary Toyota Motor Corp. 22,815 1,895,449 2,471,620 2.5 Sony Group Corp. 11,438 793,177 1,380,126 1.4 Nintendo Co. Ltd. 989 485,881 713,026 0.7 Honda Motor Co. Ltd. 15,858 616,346 628,086 0.6 Wesfarmers Ltd. 10,416 444,689 572,282 0.6 Fast Retailing Co. Ltd. 476 307,812 444,131 0.5 Seven & i Holdings Co. Ltd. 7,100 365,012 419,595 0.4 Denso Corp. 4,200 276,460 355,143 0.4 Shiseido Co. Ltd. 3,581 245,206 326,454 0.3 Hyundai Motor Co. 1,195 207,644 314,705 0.3 Oriental Land Co. Ltd. 1,700 231,630 300,242 0.3 Bridgestone Corp. 5,300 278,855 298,909 0.3 Panasonic Corp. 19,737 307,038 283,071 0.3 Techtronic Industries Co. Ltd. 11,500 122,835 248,653 0.3 Aristocrat Leisure Ltd. 5,955 134,142 238,550 0.3 Kia Corp. 2,377 115,426 234,189 0.3 Suzuki Motor Corp. 4,200 237,820 220,283 0.2 Daiwa House Industry Co. Ltd. 5,900 243,309 219,528 0.2 Shimano, Inc. 706 156,519 207,552 0.2 Galaxy Entertainment Group Ltd. 20,000 183,150 198,202 0.2 Hyundai Mobis Co. Ltd. 590 167,231 189,437 0.2 LG Electronics, Inc. 960 92,262 172,591 0.2 Toyota Industries Corp. 1,500 113,807 160,826 0.2 Bandai Namco Holdings, Inc. 1,800 96,749 154,795 0.2 Nitori Holdings Co. Ltd. 690 135,874 151,347 0.2 NCSoft Corp. 152 88,933 137,053 0.2 Subaru Corp. 5,532 217,371 135,259 0.2 Makita Corp. 2,269 114,902 132,397 0.1 Sekisui House Ltd. 5,200 120,160 132,189 0.1 Sumitomo Electric Industries Ltd. 6,800 127,919 124,345 0.1 Pan Pacific International Holdings Corp. 4,700 86,600 120,920 0.1 Sands China Ltd. 22,439 135,412 117,001 0.1 Nissan Motor Co. Ltd. 18,200 188,257 111,944 0.1 Nexon Co. Ltd. 3,724 77,182 102,873 0.1 Yamaha Corp. 1,500 83,003 100,914 0.1 Tabcorp Holdings Ltd. 19,453 80,985 93,678 0.1 Hyundai Motor Co. Pfd. 707 86,676 89,610 0.2 Dentsu, Inc. 2,000 105,089 88,697 0.1 Yamaha Motor Co. Ltd. 2,600 76,918 87,604 0.1 Koito Manufacturing Co. Ltd. 1,100 81,050 84,803 0.1 Aisin Corp. 1,600 88,334 84,792 0.1 Keio Corp. 1,100 74,556 80,140 0.1 Amorepacific Corp. 270 84,465 74,816 0.1 Sekisui Chemical Co. Ltd. 3,300 70,253 69,917 0.1 Konami Holdings Corp. 900 53,650 66,975 0.1 MonotaRO Co. Ltd. 2,256 39,662 66,197 0.1 Domino's Pizza Enterprises Ltd. 576 33,138 64,531 0.1 Mazda Motor Corp. 5,400 72,566 62,898 0.1 HYBE Co. Ltd. 183 61,768 58,858 0.1 Capcom Co. Ltd. 1,600 26,027 58,016 0.1 Korean Air Lines Co. Ltd. 1,660 41,463 57,497 0.1 Ryohin Keikaku Co. Ltd. 2,200 61,006 57,190 0.1 Kose Corp. 278 49,655 54,216 0.1 Singapore Airlines Ltd. 12,090 59,980 54,017 0.1 Toho Co. Ltd. 1,000 43,779 51,098 0.1 Stanley Electric Co. Ltd. 1,400 52,478 50,217 0.1 Food & Life Cos. Ltd. 936 23,497 50,073 0.1 JB Hi-Fi Ltd. 1,064 30,248 50,031 0.1 Asics Corp. 1,500 31,982 47,060 0.1 Chow Tai Fook Jewellery Group Ltd. 16,600 26,460 46,957 0.1 Woongjin Coway Co. Ltd. 542 52,175 46,903 0.1 Prada SPA 4,900 27,643 46,059 0.1 Iida Group Holdings Co. Ltd. 1,400 35,979 44,672 0.1 Marui Group Co. Ltd. 1,900 43,922 44,261 0.1 Hakuhodo DY Holdings, Inc. 2,300 40,273 44,239 0.1 Man Wah Holdings Ltd. 14,800 23,111 44,036 0.1 ANA Holdings, Inc. 1,502 55,363 43,771 0.1 Genting Singapore Ltd. 56,800 49,555 43,691 0.1 Square Enix Holdings Co. Ltd. 707 37,871 43,462 0.1 ZOZO, Inc. 1,000 33,883 42,117 0.1 Kyushu Railway Co. 1,501 57,895 41,967 0.1 Casio Computer Co. Ltd. 2,000 40,842 41,437 0.1 Nikon Corp. 3,100 54,759 40,985 0.1

169 Vanguard FTSE Developed Asia Pacific All Cap Index ETF

Description Number of Shares Cost ($) Fair Value ($) % of Net Assets Hankook Tire & Technology Co. Ltd. 710 36,561 40,363 0.1 USS Co. Ltd. 1,800 43,285 38,920 0.1 Rinnai Corp. 327 39,124 38,562 0.1 carsales.com Ltd. 2,091 30,347 38,412 0.1 Hotel Shilla Co. Ltd. 360 33,336 38,398 0.1 Nifco, Inc. 800 30,755 37,442 0.1 Japan Airlines Co. Ltd. 1,395 51,575 37,369 0.1 Nine Entertainment Co. Holdings Ltd. 13,810 27,868 37,360 0.1 Breville Group Ltd. 1,331 21,866 37,010 0.1 Yamada Holdings Co. Ltd. 6,400 43,404 36,630 0.1 Minth Group Ltd. 6,000 30,533 35,303 0.1 Crown Resorts Ltd. 3,163 36,114 35,021 0.1 NGK Spark Plug Co. Ltd. 1,900 46,522 34,892 0.1 Skylark Holdings Co. Ltd. 1,977 38,428 34,034 0.1 ComfortDelGro Corp. Ltd. 21,500 43,224 32,482 0.1 Kangwon Land, Inc. 1,089 39,540 32,211 0.1 Fila Korea Ltd. 500 17,683 31,998 0.0 Samsonite International SA 12,600 50,848 31,905 0.0 Star Entertainment Group Ltd. 8,899 41,128 30,527 0.0 E-MART, Inc. 173 39,036 30,437 0.0 Sumitomo Rubber Industries Ltd. 1,678 29,670 28,700 0.0 Zensho Holdings Co. Ltd. 900 21,172 28,647 0.0 HLB, Inc. 766 24,957 28,132 0.0 Sega Sammy Holdings, Inc. 1,700 29,585 27,653 0.0 Qantas Airways Ltd. 6,305 29,291 27,314 0.0 SJM Holdings Ltd. 20,000 26,337 27,043 0.0 IDP Education Ltd. 1,174 7,384 26,783 0.0 Yokohama Rubber Co. Ltd. 1,000 25,127 26,542 0.0 J Front Retailing Co. Ltd. 2,400 38,955 26,375 0.0 Toyo Tire Corp. 1,000 22,919 26,196 0.0 Pola Orbis Holdings, Inc. 800 28,227 26,187 0.0 Sumitomo Forestry Co. Ltd. 1,145 23,056 25,996 0.0 Goldwin, Inc. 356 18,914 25,936 0.0 Isetan Mitsukoshi Holdings Ltd. 3,000 38,494 25,906 0.0 Hyosung TNC Corp. 26 6,823 25,730 0.0 Bapcor Ltd. 3,161 16,981 24,978 0.0 AP Eagers Ltd. 1,621 16,912 24,955 0.0 Harvey Norman Holdings Ltd. 4,892 20,632 24,922 0.0 Benesse Holdings, Inc. 800 28,251 24,661 0.0 Wynn Macau Ltd. 12,540 37,227 24,435 0.0 Hanon Systems 1,341 19,000 24,404 0.0 JTEKT Corp. 1,900 32,613 24,145 0.0 Fancl Corp. 600 14,284 24,099 0.0 Shimamura Co. Ltd. 200 21,922 23,786 0.0 Shinsegae, Inc. 72 22,911 22,603 0.0 ARB Corp. Ltd. 561 13,175 22,525 0.0 Mando Corp. 299 16,962 21,864 0.0 Kadokawa Dwango 432 13,488 21,737 0.0 SKYCITY Entertainment Group Ltd. 7,117 27,243 21,615 0.0 Singapore Press Holdings Ltd. 13,700 24,548 21,581 0.0 Pearl Abyss Corp. 255 15,047 21,226 0.0 Netmarble Corp. 141 25,557 20,776 0.0 LG Electronics, Inc. Pfd. 238 20,028 20,596 0.0 CJ ENM Co. Ltd. 100 22,487 20,089 0.0 Mitsubishi Motors Corp. 5,725 38,467 19,928 0.0 Yue Yuen Industrial Holdings Ltd. 6,500 25,593 19,879 0.0 Amorepacific Group 281 35,041 19,775 0.0 K's Holdings Corp. ADR 1,364 19,832 19,433 0.0 SATS Ltd. 5,300 23,949 19,188 0.0 Corporate Travel Management Ltd. 960 19,384 19,179 0.0 JS Global Lifestyle Co. Ltd. 5,500 15,389 19,162 0.0 TS Tech Co. Ltd. 1,000 19,844 19,134 0.0 Toyoda Gosei Co. Ltd. 600 17,290 18,308 0.0 Shochiku Co. Ltd. 128 23,735 18,294 0.0 Cheil Worldwide, Inc. 649 14,517 17,948 0.0 Webjet Ltd. 3,915 21,490 17,870 0.0 Kakao Games Corp. 279 16,484 17,732 0.0 Katitas Co. Ltd. 500 15,380 17,405 0.0 Sotetsu Holdings, Inc. 700 24,570 17,096 0.0 Hyundai Wia Corp. 153 13,182 17,076 0.0 Super Retail Group Ltd. 1,392 11,388 16,707 0.0 NHK Spring Co. Ltd. 1,600 21,079 16,280 0.0 NagaCorp Ltd. 13,595 15,070 16,237 0.0 Bic Camera, Inc. 1,300 19,635 16,230 0.0

170 Vanguard FTSE Developed Asia Pacific All Cap Index ETF

Description Number of Shares Cost ($) Fair Value ($) % of Net Assets Hanjin Kal Corp. 221 6,403 16,039 0.0 Flight Centre Travel Group Ltd. 1,144 19,988 15,793 0.0 Jardine Cycle & Carriage Ltd. 800 16,862 15,742 0.0 Amorepacific Corp. Pfd. 162 12,981 15,694 0.0 F&F Co. Ltd. 25 9,300 15,394 0.0 NOK Corp. 1,000 22,319 15,374 0.0 Fujitsu General Ltd. 456 12,532 14,993 0.0 Izumi Co. Ltd. 321 22,536 14,970 0.0 Takashimaya Co. Ltd. 1,100 14,327 14,825 0.0 PointsBet Holdings Ltd. 1,222 5,571 14,519 0.0 Daiichi Kosho Co. Ltd. 300 15,927 14,275 0.0 ABC-Mart, Inc. 200 14,676 14,214 0.0 Yoshinoya Holdings Co. Ltd. 600 14,882 14,212 0.0 Milbon Co. Ltd. 200 12,243 14,013 0.0 Descente Ltd. 400 7,504 13,812 0.0 Melco International Development Ltd. 6,000 17,662 13,643 0.0 Wacoal Holdings Corp. 484 14,779 13,581 0.0 MGM China Holdings Ltd. 7,200 16,909 13,501 0.0 Okamura Corp. 800 11,739 13,415 0.0 InvoCare Ltd. 1,235 16,547 13,284 0.0 Colowide Co. Ltd. 600 14,501 13,261 0.0 Sanrio Co. Ltd. 600 14,571 13,161 0.0 IGG, Inc. 8,034 13,252 13,144 0.0 Kura Sushi, Inc. 252 9,877 13,074 0.0 Hyundai Department Store Co. Ltd. 134 13,067 12,878 0.0 Luk Fook Holdings International Ltd. 3,000 11,258 12,820 0.0 Toyota Boshoku Corp. 500 11,494 12,814 0.0 Kohnan Shoji Co. Ltd. 300 10,131 12,786 0.0 Sankyo Co. Ltd. 400 16,147 12,661 0.0 EVENT Hospitality and Entertainment Ltd. 1,074 12,098 12,620 0.0 Citizen Watch Co. Ltd. 2,700 21,815 12,351 0.0 Lotte Shopping Co. Ltd. 96 21,051 12,192 0.0 Hyosung Advanced Materials Corp. 25 7,012 12,109 0.0 SM Entertainment Co. Ltd. 187 8,509 12,091 0.0 Nexteer Automotive Group Ltd. 7,000 15,959 12,055 0.0 Fuji Kyuko Co. Ltd. 203 7,782 12,049 0.0 Hanssem Co. Ltd. 105 22,634 11,834 0.0 DCM Holdings Co. Ltd. 1,000 12,120 11,804 0.0 Sun Art Retail Group Ltd. 12,500 15,563 11,521 0.0 Token Corp. 100 10,259 11,324 0.0 Duskin Co. Ltd. 400 12,488 11,309 0.0 Cosmax, Inc. 78 11,368 11,236 0.0 Toei Co. Ltd. 48 12,902 11,118 0.0 Musashi Seimitsu Industry Co. Ltd. 400 6,777 11,041 0.0 Heiwa Corp. 500 13,329 10,973 0.0 EDION Corp. 900 11,845 10,895 0.0 Temple & Webster Group Ltd. 1,080 11,118 10,833 0.0 Youngone Corp. 221 9,057 10,790 0.0 Round One Corp. 700 10,206 10,738 0.0 Atom Corp. 1,200 11,581 10,362 0.0 Sangetsu Corp. 600 14,559 10,362 0.0 Com2uSCorp 75 11,565 10,201 0.0 Create Restaurants Holdings, Inc. 1,000 7,047 10,175 0.0 SeaLink Travel Group Ltd. 1,153 4,820 10,162 0.0 Paradise Co. Ltd. 509 11,271 10,130 0.0 Resorttrust, Inc. 500 12,206 10,119 0.0 Valor Holdings Co. Ltd. 400 12,383 10,104 0.0 Tokai Rika Co. Ltd. 500 12,254 9,935 0.0 Autobacs Seven Co. Ltd. 600 14,050 9,894 0.0 Shangri-La Asia Ltd. 8,000 13,959 9,695 0.0 Baby Bunting Group Ltd. 1,828 10,050 9,551 0.0 City Chic Collective Ltd. 1,840 7,197 9,391 0.0 Shoei Co. Ltd. 200 5,133 9,361 0.0 Mandom Corp. 400 15,179 9,238 0.0 Zojirushi Corp. 500 7,783 9,238 0.0 Cathay Pacific Airways Ltd. 8,818 11,877 9,224 0.0 NHN Corp. 100 7,405 9,171 0.0 Kumho Tire Co. Inc. 1,036 8,056 9,136 0.0 JYP Entertainment Corp. 205 8,864 9,129 0.0 Tomy Co. Ltd. 859 12,279 9,124 0.0 Joyful Honda Co. Ltd. 600 10,599 9,064 0.0 Jumbo Interactive Ltd. 544 11,662 8,987 0.0 San-Ai Oil Co. Ltd. 611 8,848 8,766 0.0 Kolmar Korea Co. Ltd. 135 12,908 8,610 0.0

171 Vanguard FTSE Developed Asia Pacific All Cap Index ETF

Description Number of Shares Cost ($) Fair Value ($) % of Net Assets CJ CGV Co. Ltd. 255 6,573 8,552 0.0 oOh!media Ltd. 5,204 12,972 8,466 0.0 Great Eagle Holdings, Ltd. 2,000 9,089 8,419 0.0 Toridoll Holdings Corp. 400 7,251 8,408 0.0 Nextage Co. Ltd. 400 6,398 8,399 0.0 KYB Corp. 200 12,718 8,390 0.0 Komeri Co. Ltd. 286 9,905 8,354 0.0 Monogatari Corp. 100 8,115 8,334 0.0 GUD Holdings Ltd. 742 7,982 8,271 0.0 Collins Foods Ltd. 756 4,968 8,061 0.0 HIS Co. Ltd. 300 12,248 8,056 0.0 H2O Retailing Corp. 800 18,202 8,042 0.0 GungHo Online Entertainment, Inc. 320 10,008 7,894 0.0 Sebang Global Battery Co. Ltd. 72 3,098 7,680 0.0 Stella International Holdings Ltd. 4,000 8,028 7,654 0.0 Innocean Worldwide, Inc. 105 8,656 7,620 0.0 TBS Holdings, Inc. 400 10,262 7,613 0.0 Kathmandu Holdings Ltd. 5,418 7,089 7,548 0.0 Zinus, Inc. 66 5,755 7,475 0.0 Ohsho Food Service Corp. 119 8,581 7,435 0.0 Arcland Service Holdings Co. Ltd. 300 7,564 7,350 0.0 Royal Holdings Co. Ltd. 300 9,591 7,280 0.0 United Arrows Ltd. 300 14,261 7,200 0.0 Hana Tour Service, Inc. 82 9,871 7,141 0.0 Topre Corp. 400 12,367 7,100 0.0 Air New Zealand Ltd. 5,207 13,116 6,983 0.0 G8 Education Ltd. 7,439 20,268 6,950 0.0 Maxell Holdings Ltd. 500 12,951 6,928 0.0 KOMEDA Holdings Co. Ltd. 300 7,053 6,928 0.0 Fuji Media Holdings, Inc. 500 9,357 6,884 0.0 Accent Group Ltd. 2,628 3,169 6,816 0.0 Plenus Co. Ltd. 300 7,386 6,811 0.0 Adastria Co. Ltd. 300 9,069 6,795 0.0 MOS Food Services, Inc. 200 7,509 6,772 0.0 Ichibanya Co. Ltd. 119 8,387 6,758 0.0 YG Entertainment, Inc. 120 5,481 6,756 0.0 Nishimatsuya Chain Co. Ltd. 400 6,586 6,725 0.0 Kyoritsu Maintenance Co. Ltd. 166 8,802 6,704 0.0 Lovisa Holdings Ltd. 472 4,262 6,692 0.0 Pacific Industrial Co. Ltd. 500 8,320 6,677 0.0 Macromill, Inc. 700 7,696 6,654 0.0 Alpen Co. Ltd. 200 5,032 6,589 0.0 Hyundai Home Shopping Network Corp. 66 9,410 6,561 0.0 Shinsegae International, Inc. 29 7,904 6,505 0.0 Seiko Holdings Corp. 261 8,265 6,456 0.0 Aeon Hokkaido Corp. 500 7,239 6,320 0.0 Noevir Holdings Co. Ltd. 100 6,073 6,292 0.0 Wemade Co. Ltd. 101 4,444 6,286 0.0 Handsome Co. Ltd. 133 5,438 6,281 0.0 Roland Corp. 100 6,774 6,281 0.0 Prestige International, Inc. 800 5,454 6,275 0.0 Hong Kong Television Network Ltd. 4,000 7,072 6,219 0.0 SL Corp. 157 3,591 6,163 0.0 Nojima Corp. 200 6,195 6,127 0.0 Studio Dragon Corp. 58 7,596 6,110 0.0 Infomedia Ltd. 4,236 6,483 6,045 0.0 Redbubble Ltd. 1,790 10,033 6,007 0.0 Joshin Denki Co. Ltd. 200 7,310 6,002 0.0 Saizeriya Co. Ltd. 200 5,229 5,947 0.0 Mizuno Corp. 224 8,482 5,903 0.0 Hiday Hidaka Corp. 290 8,184 5,830 0.0 DoubleUGames Co. Ltd. 88 5,192 5,767 0.0 China Travel International Investment Hong Kong Ltd. 28,000 11,530 5,760 0.0 Doutor Nichires Holdings Co. Ltd. 300 8,545 5,737 0.0 Lotte Himart Co. Ltd. 144 10,959 5,669 0.0 Yokowo Co. Ltd. 200 7,305 5,663 0.0 VT Holdings Co. Ltd. 1,100 7,437 5,658 0.0 Nissan Shatai Co. Ltd. 700 9,072 5,600 0.0 Ananti, Inc. 516 3,871 5,583 0.0 Nippon Seiki Co. Ltd. 419 10,845 5,540 0.0 Itochu Enex Co. Ltd. 500 6,171 5,517 0.0 Avex, Inc. 300 5,390 5,493 0.0 Uchida Yoko Co. Ltd. 100 2,956 5,489 0.0 Kogan.com Ltd. 507 9,801 5,458 0.0

172 Vanguard FTSE Developed Asia Pacific All Cap Index ETF

Description Number of Shares Cost ($) Fair Value ($) % of Net Assets Exedy Corp. 300 11,165 5,452 0.0 Ichikoh Industries Ltd. 673 7,466 5,436 0.0 Ringer Hut Co. Ltd. 200 5,653 5,313 0.0 Pou Sheng International Holdings Ltd. 18,000 4,580 5,252 0.0 Kisoji Co. Ltd. 200 5,905 5,221 0.0 Xiabuxiabu Catering Management China Holdings Co. Ltd. 4,000 11,123 5,192 0.0 Gunze Ltd. 100 5,389 5,160 0.0 Curves Holdings Co. Ltd. 500 4,289 5,115 0.0 Cafe de Coral Holdings Ltd. 2,000 5,669 5,090 0.0 Media Do Holdings Co. Ltd. 100 5,118 5,082 0.0 Arcland Sakamoto Co. Ltd. 300 5,341 5,077 0.0 Halla Holdings Corp. 94 6,316 5,075 0.0 Lotte Tour Development Co. Ltd. 229 2,867 5,074 0.0 Tokyotokeiba Co. Ltd. 100 3,883 5,060 0.0 GLOBERIDE, Inc. 100 3,592 5,004 0.0 Tachi-S Co. Ltd. 300 6,884 4,974 0.0 Sa Sa International Holdings Ltd. 14,000 7,047 4,956 0.0 TPR Co. Ltd. 300 12,103 4,944 0.0 GS Home Shopping, Inc. 29 6,783 4,939 0.0 Lifestyle International Holdings Ltd. 5,000 9,932 4,752 0.0 Onward Holdings Co. Ltd. 1,264 10,829 4,738 0.0 LF Corp. 210 7,273 4,699 0.0 Teikoku Sen-I Co. Ltd. 200 4,538 4,668 0.0 Daikyonishikawa Corp. 600 11,268 4,619 0.0 Direct Marketing MiX, Inc. 100 4,168 4,602 0.0 Asiana Airlines, Inc. 241 3,694 4,558 0.0 Nexen Tire Corp. 387 6,129 4,511 0.0 Seven West Media Ltd. 10,416 8,651 4,503 0.0 Webzen, Inc. 132 4,005 4,492 0.0 Crystal International Group Ltd. 7,000 8,919 4,454 0.0 Yellow Hat Ltd. 200 3,551 4,391 0.0 Keiyo Co. Ltd. 500 3,767 4,379 0.0 Belluna Co. Ltd. 400 4,294 4,360 0.0 Aoyama Trading Co. Ltd. 500 22,637 4,312 0.0 Nippon Television Holdings, Inc. 300 6,559 4,308 0.0 CosmoAM&T Co. Ltd. 143 4,206 4,285 0.0 Yondoshi Holdings, Inc. 200 6,711 4,228 0.0 Sanyo Electric Railway Co. Ltd. 200 6,649 4,226 0.0 Unipres Corp. 413 12,705 4,207 0.0 Matsuya Co. Ltd. 400 5,710 4,177 0.0 Esprit Holdings Ltd. 34,050 22,560 4,126 0.0 Geo Holdings Corp. 300 6,655 4,117 0.0 Hankook & Co. Ltd. 180 4,220 4,028 0.0 Interpark Holdings Corp. 652 1,929 3,957 0.0 Kanagawa Chuo Kotsu Co. Ltd. 100 4,294 3,955 0.0 Aisan Industry Co. Ltd. 400 5,434 3,932 0.0 Neowiz 141 1,968 3,915 0.0 LEC, Inc. 300 6,532 3,782 0.0 Giordano International Ltd. 14,000 9,286 3,773 0.0 G-7 Holdings, Inc. 100 2,500 3,771 0.0 Piolax, Inc. 221 7,221 3,768 0.0 Riso Kyoiku Co. Ltd. 1,000 6,241 3,715 0.0 Dynam Japan Holdings Co. Ltd. 3,200 6,910 3,715 0.0 ValueCommerce Co. Ltd. 100 2,623 3,615 0.0 FCC Co. Ltd. 200 4,212 3,610 0.0 Southern Cross Media Group Ltd. 1,857 9,109 3,608 0.0 Best World International Ltd. 3,000 6,704 3,587 0.0 SNT Motiv Co. Ltd. 45 2,777 3,513 0.0 Press Kogyo Co. Ltd. 900 5,825 3,484 0.0 Cuckoo Homesys Co. Ltd. 70 3,209 3,483 0.0 Conexio Corp. 207 4,444 3,464 0.0 G-Tekt Corp. 200 4,083 3,456 0.0 Television Broadcasts Ltd. 2,900 13,618 3,422 0.0 Kintetsu Department Store Co. Ltd. 100 4,473 3,408 0.0 Koshidaka Holdings Co. Ltd. 500 8,867 3,375 0.0 Hansae Co. Ltd. 125 2,535 3,361 0.0 Tourism Holdings Ltd. 1,511 8,597 3,308 0.0 World Co. Ltd. 200 5,310 3,265 0.0 Xebio Holdings Co. Ltd. 300 7,315 3,237 0.0 KeePer Technical Laboratory Co. Ltd. 100 3,021 3,235 0.0 Sumitomo Riko Co. Ltd. 400 4,860 3,222 0.0 Vector, Inc. 300 5,230 3,217 0.0 NS Shopping Co. Ltd. 207 4,304 3,187 0.0 Hyundai Greenfood Co. Ltd. 267 2,772 3,156 0.0

173 Vanguard FTSE Developed Asia Pacific All Cap Index ETF

Description Number of Shares Cost ($) Fair Value ($) % of Net Assets KFC Holdings Japan Ltd. 100 2,309 3,153 0.0 Kolmar Korea Holdings Co. Ltd. 93 5,029 3,109 0.0 Evolable Asia Corp. 100 3,244 3,076 0.0 Youngone Holdings Co. Ltd. 57 4,116 3,027 0.0 AOKI Holdings, Inc. 400 7,246 2,972 0.0 Chiyoda Co. Ltd. 300 10,467 2,962 0.0 Futaba Industrial Co. Ltd. 507 4,831 2,958 0.0 TSI Holdings Co. Ltd. 800 7,450 2,954 0.0 Proto Corp. 200 2,234 2,932 0.0 IDOM, Inc. 400 2,547 2,919 0.0 Riken Corp. 100 5,864 2,851 0.0 Tosho Co. Ltd. 132 5,391 2,823 0.0 Myer Holdings Ltd. 8,469 8,695 2,795 0.0 Fujio Food System Co. Ltd. 200 4,653 2,783 0.0 Apollo Future Mobility Group Ltd. 40,000 11,433 2,679 0.0 Daido Metal Co. Ltd. 400 4,495 2,669 0.0 Lock&Lock Co. Ltd. 176 3,697 2,651 0.0 Yorozu Corp. 200 5,259 2,631 0.0 Amuse, Inc. 100 2,944 2,622 0.0 Sanoh Industrial Co. Ltd. 200 1,963 2,617 0.0 Yonex Co. Ltd. 328 4,074 2,617 0.0 Hyundai Livart Furniture Co. Ltd. 118 4,030 2,550 0.0 Tsutsumi Jewelry Co. Ltd. 100 2,057 2,546 0.0 Modetour Network, Inc. 87 1,449 2,521 0.0 Digital Holdings, Inc. 100 2,121 2,509 0.0 Open Door, Inc. 100 2,959 2,487 0.0 Restaurant Brands New Zealand Ltd. 190 1,837 2,359 0.0 Sungwoo Hitech Co. Ltd. 280 2,135 2,254 0.0 Kamakura Shinsho Ltd. 200 3,853 2,245 0.0 Pacific Textiles Holdings Ltd. 3,000 2,450 2,234 0.0 Chofu Seisakusho Co. Ltd. 100 2,425 2,231 0.0 Grand Korea Leisure Co. Ltd. 121 2,355 2,215 0.0 IMAX China Holding, Inc. 1,171 5,654 2,162 0.0 Chow Sang Sang Holdings International Ltd. 1,000 1,697 2,143 0.0 Digital Domain Holdings Ltd. 230,000 3,338 2,127 0.0 JVCKenwood Corp. 800 1,781 2,115 0.0 SG Fleet Group Ltd. 750 1,990 2,092 0.0 GOLFZON Co. Ltd. 14 1,704 2,080 0.0 TV Asahi Holdings Corp. 100 2,505 1,965 0.0 S.T. Corp. 100 2,841 1,930 0.0 PAL GROUP Holdings Co. Ltd. 100 1,947 1,926 0.0 Vita Group Ltd. 2,170 5,134 1,916 0.0 Mitsuba Corp. 200 1,453 1,827 0.0 Gurunavi, Inc. 300 2,641 1,827 0.0 Mars Group Holdings Corp. 100 2,593 1,815 0.0 Marvelous, Inc. 200 2,108 1,763 0.0 CJ Hello Co. Ltd. 174 1,594 1,728 0.0 Happinet Corp. 100 1,772 1,647 0.0 Kappa Create Co. Ltd. 100 1,792 1,621 0.0 Woongjin Thinkbig Co. Ltd. 348 1,714 1,577 0.0 Gakken Holdings Co. Ltd. 100 1,857 1,506 0.0 KNT-CT Holdings Co. Ltd. 100 2,454 1,474 0.0 AMA Group Ltd. 2,250 2,819 1,203 0.0 Foster Electric Co. Ltd. 100 1,502 1,089 0.0 F&F Holdings Co. Ltd. 26 6,016 1,076 0.0 Gamevil, Inc. 13 656 552 0.0 15,631,531 18,066,376 18.0 Consumer Staples Woolworths Group Ltd. 11,781 345,380 417,609 0.4 Kao Corp. 4,329 369,551 330,117 0.3 Japan Tobacco, Inc. 10,906 427,454 255,339 0.3 Asahi Group Holdings Ltd. 3,857 208,982 223,379 0.2 Aeon Co. Ltd. 6,500 153,782 216,471 0.2 Coles Group Ltd. 11,900 155,544 189,065 0.2 Unicharm Corp. 3,621 136,836 180,583 0.2 Kirin Holdings Co. Ltd. 7,168 192,941 173,220 0.2 LG Household & Health Care Ltd. 76 98,426 147,248 0.2 Ajinomoto Co. Inc. 4,457 114,954 143,410 0.2 Kikkoman Corp. 1,751 98,647 143,196 0.2 MEIJI Holdings Co. Ltd. 1,288 126,534 95,561 0.1 KT&G Corp. 1,017 117,155 94,383 0.1 Yakult Honsha Co. Ltd. 1,277 103,114 89,616 0.1 WH Group Ltd. 78,848 96,235 87,757 0.1

174 Vanguard FTSE Developed Asia Pacific All Cap Index ETF

Description Number of Shares Cost ($) Fair Value ($) % of Net Assets Wilmar International Ltd. 19,745 69,600 81,852 0.1 Treasury Wine Estates Ltd. 6,895 86,324 74,868 0.1 Endeavour Group Ltd. 11,365 69,040 66,457 0.1 Budweiser Brewing Co. APAC Ltd. 16,000 73,188 62,506 0.1 Nissin Foods Holdings Co. Ltd. 700 62,357 62,478 0.1 Suntory Beverage & Food Ltd. 1,200 65,429 55,963 0.1 Lion Corp. 2,400 56,192 50,393 0.1 Tsuruha Holdings, Inc. 332 52,797 47,820 0.1 Want Want China Holdings Ltd. 52,000 51,202 45,604 0.1 Nisshin Seifun Group, Inc. 2,500 56,726 45,325 0.1 Tingyi Cayman Islands Holding Corp. 18,000 39,498 44,488 0.1 NH Foods Ltd. 862 50,826 41,546 0.1 a2 Milk Co. Ltd. 7,117 55,184 39,658 0.1 Matsumotokiyoshi Holdings Co. Ltd. 700 32,541 38,307 0.1 Toyo Suisan Kaisha Ltd. 800 43,288 38,156 0.1 Metcash Ltd. 10,005 28,409 37,112 0.1 Vitasoy International Holdings Ltd. 8,000 37,094 36,802 0.1 Ito En, Ltd. 500 32,266 36,762 0.1 Welcia Holdings Co. Ltd. 900 29,233 36,449 0.1 Sugi Holdings Co. Ltd. 400 31,013 36,148 0.1 Nichirei Corp. 1,100 35,772 35,824 0.0 CJ CheilJedang Corp. 70 27,225 35,484 0.0 Pigeon Corp. 927 43,692 32,372 0.0 Orion Corp. 217 28,839 28,275 0.0 Cosmos Pharmaceutical Corp. 152 17,814 27,642 0.0 Takara Holdings, Inc. 1,700 24,071 26,269 0.0 Morinaga Milk Industry Co. Ltd. 400 19,925 25,839 0.0 Coca-Cola Bottlers Japan Holdings, Inc. 1,300 46,096 25,179 0.0 Kewpie Corp. 900 28,992 25,033 0.0 LG Household & Health Care Ltd. Pfd. 29 22,287 24,394 0.0 Ain Holdings, Inc. 300 24,777 23,195 0.0 Ezaki Glico Co. Ltd. 500 29,758 23,095 0.0 Lawson, Inc. 400 32,643 22,938 0.0 Kagome Co. Ltd. 700 25,697 22,891 0.0 House Foods Group, Inc. 600 23,245 22,727 0.0 Sundrug Co. Ltd. 554 27,524 21,819 0.0 PALTAC Corp. 300 16,371 19,279 0.0 L'Occitane International SA 4,250 11,224 19,246 0.0 Yamazaki Baking Co. Ltd. 1,077 27,478 18,817 0.0 cocokara fine, Inc. 200 15,491 18,520 0.0 Bega Cheese Ltd. 3,238 19,196 17,730 0.0 CALBEE, Inc. 600 26,240 17,150 0.0 Sapporo Holdings Ltd. 600 21,013 15,477 0.0 Ariake Japan Co. Ltd. 200 18,368 15,374 0.0 Naturecell Co. Ltd. 428 28,715 14,236 0.0 Yaoko Co. Ltd. 200 11,771 14,214 0.0 Pilot Corp. 332 19,117 13,927 0.0 Uni-President China Holdings Ltd. 10,000 12,347 13,665 0.0 Oisix ra daichi, Inc. 300 9,774 13,656 0.0 Dairy Farm International Holdings Ltd. 2,600 22,159 13,651 0.0 Golden Agri-Resources Ltd. 64,200 22,209 13,603 0.0 Kobe Bussan Co. Ltd. 348 2,715 13,589 0.0 BGF retail Co. Ltd. 65 13,507 12,829 0.0 Elders Ltd. 1,191 8,327 12,788 0.0 Kotobuki Spirits Co. Ltd. 156 9,199 12,497 0.0 Sakata Seed Corp. 300 12,001 12,217 0.0 Morinaga & Co. Ltd. 300 17,635 11,882 0.0 Nippon Suisan Kaisha Ltd. 2,000 11,025 11,804 0.0 Fuji Oil Holdings, Inc. 400 12,775 11,795 0.0 NongShim Co. Ltd. 33 10,846 11,376 0.0 Kusuri no Aoki Holdings Co. Ltd. 125 12,486 11,296 0.0 Costa Group Holdings Ltd. 3,524 15,406 10,844 0.0 Arcs Co. Ltd. 400 11,165 10,782 0.0 GS Retail Co. Ltd. 248 9,801 10,540 0.0 Maruha Nichiro Corp. 400 12,721 10,537 0.0 Lotte Corp. 238 10,274 10,520 0.0 GrainCorp Ltd. Class A 2,163 16,041 10,376 0.0 Prima Meat Packers Ltd. 300 9,341 10,058 0.0 United Malt Group Ltd. 2,400 8,713 9,996 0.0 Megmilk Snow Brand Co. Ltd. 400 14,039 9,434 0.0 San-A Co. Ltd. 200 10,065 9,416 0.0 Hite Jinro Co. Ltd. 219 6,635 9,079 0.0 Olam International Ltd. 6,100 9,364 8,991 0.0 Dongsuh Cos. Inc. 257 8,214 8,619 0.0

175 Vanguard FTSE Developed Asia Pacific All Cap Index ETF

Description Number of Shares Cost ($) Fair Value ($) % of Net Assets First Pacific Co. Ltd. 20,000 16,826 8,451 0.0 Ottogi Corp. 14 14,412 8,374 0.0 euglena Co. Ltd. 800 11,719 8,158 0.0 Itoham Yonekyu Holdings, Inc. 1,014 9,586 8,089 0.0 Mitsubishi Pencil Co. Ltd. 500 14,484 8,022 0.0 Blackmores Ltd. 117 15,723 7,991 0.0 Marley Spoon AG CDI 2,684 6,955 7,885 0.0 Life Corp. 200 6,694 7,866 0.0 Select Harvests Ltd. 1,246 6,169 7,819 0.0 Vinda International Holdings Ltd. 2,000 8,521 7,622 0.0 Kato Sangyo Co. Ltd. 200 8,142 7,553 0.0 Samyang Holdings Corp. 62 9,382 7,533 0.0 Heiwado Co. Ltd. 300 8,662 7,424 0.0 Create SD Holdings Co. Ltd. 200 6,452 7,364 0.0 S Foods, Inc. 200 9,936 7,341 0.0 Nisshin Oillio Group Ltd. 212 6,797 7,261 0.0 Showa Sangyo Co. Ltd. 215 7,280 7,167 0.0 First Resources Ltd. 5,800 10,296 7,160 0.0 Inghams Group Ltd. 1,892 6,415 7,000 0.0 Sheng Siong Group Ltd. 4,800 4,820 6,987 0.0 Daesang Corp. 228 7,179 6,957 0.0 Tassal Group Ltd. 2,026 7,739 6,743 0.0 Kameda Seika Co. Ltd. 135 8,334 6,672 0.0 Nippn Corp. 375 8,114 6,564 0.0 Lotte Chilsung Beverage Co. Ltd. 40 8,875 6,378 0.0 Pharma Foods International Co. Ltd. 200 8,242 6,210 0.0 United Super Markets Holdings, Inc. 500 6,924 6,053 0.0 BWX Ltd. 1,196 6,938 6,049 0.0 CJ CheilJedang Corp. Pfd. 26 5,121 6,004 0.0 Belc Co. Ltd. 100 5,316 5,980 0.0 Sigma Healthcare Ltd. 10,582 9,870 5,853 0.0 Yukiguni Maitake Co. Ltd. 300 6,792 5,653 0.0 DyDo Group Holdings, Inc. 100 6,783 5,567 0.0 YAKUODO Holdings Co. Ltd. 200 5,438 5,288 0.0 Retail Partners Co., Ltd. 400 7,537 5,235 0.0 Dongwon Industries Co. Ltd. 18 6,243 5,205 0.0 Inageya Co. Ltd. 300 5,742 4,927 0.0 Arata Corp. 100 5,783 4,809 0.0 Australian Pharmaceutical Industries Ltd. 4,584 7,971 4,752 0.0 Axial Retailing, Inc. 113 5,853 4,728 0.0 Starzen Co. Ltd. 200 5,857 4,693 0.0 Key Coffee, Inc. 200 4,899 4,655 0.0 Scales Corp. Ltd. 1,064 4,664 4,410 0.0 Fuji Co. Ltd. 200 5,528 4,365 0.0 Genky DrugStores Co. Ltd. 100 4,338 4,329 0.0 Hokuto Corp. 200 4,698 4,282 0.0 Fujicco Co. Ltd. 200 5,629 4,262 0.0 J-Oil Mills, Inc. 200 4,939 4,193 0.0 Shoei Foods Corp. 100 4,535 4,189 0.0 Mitsui DM Sugar Holdings Co. Ltd. 200 8,371 4,166 0.0 Orion Holdings Corp. 222 16,743 4,162 0.0 Yokohama Reito Co. Ltd. 400 5,005 3,936 0.0 Marudai Food Co. Ltd. 200 4,206 3,782 0.0 Binggrae Co. Ltd. 54 4,179 3,776 0.0 Chubu Shiryo Co. Ltd. 300 7,254 3,769 0.0 Okuwa Co. Ltd. 302 4,218 3,663 0.0 Riken Vitamin Co. Ltd. 200 5,055 3,472 0.0 Daikokutenbussan Co. Ltd. 38 3,211 3,409 0.0 YA-MAN Ltd. 200 1,656 3,334 0.0 Rock Field Co. Ltd. 200 4,191 3,294 0.0 Kyokuyo Co. Ltd. 100 3,406 3,230 0.0 Mitsubishi Shokuhin Co. Ltd. 100 3,375 3,134 0.0 Feed One Co. Ltd. 380 5,320 3,112 0.0 Halows Co. Ltd. 100 2,926 3,064 0.0 Cawachi Ltd. 120 4,231 3,004 0.0 Maxvalu Tokai Co. Ltd. 100 3,027 2,767 0.0 Synlait Milk Ltd. 878 8,862 2,765 0.0 Harim Holdings Co. Ltd. 238 3,559 2,748 0.0 Namyang Dairy Products Co. Ltd. 3 2,025 2,494 0.0 Japan Meat Co. Ltd. 100 3,508 2,459 0.0 Nagatanien Holdings Co. Ltd. 100 2,834 2,383 0.0 Samyang Corp. 34 3,788 2,363 0.0 Kansai Super Market Ltd. 200 3,326 2,189 0.0 Lotte Food Co. Ltd. 4 3,540 2,080 0.0

176 Vanguard FTSE Developed Asia Pacific All Cap Index ETF

Description Number of Shares Cost ($) Fair Value ($) % of Net Assets Australian Agricultural Co. Ltd. 1,565 1,764 1,993 0.0 Nippon Beet Sugar Manufacturing Co. Ltd. 100 2,558 1,880 0.0 Lotte Confectionery Co. Ltd. 12 2,635 1,828 0.0 Kenko Mayonnaise Co. Ltd. 100 2,787 1,774 0.0 Rokko Butter Co. Ltd. 100 2,810 1,734 0.0 Qol Holdings Co. Ltd. 100 1,688 1,729 0.0 Kitanotatsujin Corp. 300 2,456 1,653 0.0 Olam International Ltd. Rights Exp. 07/19/2021 915 0 295 0.0 Bumitama Agri Ltd. 39 26 16 0.0 5,269,559 5,077,963 5.0 Energy Woodside Petroleum Ltd. 9,099 245,267 187,873 0.2 SK Innovation Co. Ltd. 502 101,198 163,114 0.2 ENEOS Holdings, Inc. 27,193 177,039 141,045 0.1 Santos Ltd. 16,109 81,478 106,178 0.1 APA Group 11,090 97,218 91,758 0.1 Osaka Gas Co. Ltd. 3,700 92,295 85,409 0.1 Inpex Corp. 8,200 100,075 75,842 0.1 Oil Search Ltd. 20,067 91,909 71,077 0.1 Keppel Corp. Ltd. 13,706 81,201 69,065 0.1 Idemitsu Kosan Co. Ltd. 2,261 84,746 67,680 0.1 Ampol Ltd. 2,131 63,147 55,887 0.1 S-Oil Corp. 374 40,819 42,153 0.0 Washington H Soul Pattinson & Co. Ltd. 841 14,812 26,371 0.0 CS Wind Corp. 203 15,397 17,299 0.0 Beach Energy Ltd. 14,784 19,940 17,043 0.0 Viva Energy Group Ltd. 8,308 15,882 14,906 0.0 Cosmo Energy Holdings Co. Ltd. 500 13,587 14,208 0.0 Whitehaven Coal Ltd. 6,944 22,308 12,524 0.0 Z Energy Ltd. 5,101 19,112 12,094 0.0 eRex Co. Ltd. 400 10,459 12,058 0.0 United Energy Group Ltd. 64,000 9,933 11,430 0.0 Imdex Ltd. 4,878 7,868 9,251 0.0 HLB Life Science Co. Ltd. 668 8,799 7,345 0.0 Japan Petroleum Exploration Co. Ltd. 285 9,101 6,350 0.0 Senex Energy Ltd. 1,775 4,893 5,660 0.0 Modec, Inc. 200 5,612 4,592 0.0 New Hope Corp. Ltd. 2,503 10,439 4,026 0.0 Coronado Global Resources, Inc. CDI 4,932 11,212 3,851 0.0 Cooper Energy Ltd. 14,793 7,072 3,576 0.0 Karoon Energy Ltd. 2,611 2,429 3,228 0.0 Toyo Kanetsu KK 100 3,643 2,745 0.0 Carnarvon Petroleum Ltd. 10,320 2,878 2,399 0.0 gremz, Inc. 100 2,163 2,143 0.0 Kamei Corp. 100 1,396 1,253 0.0 NewOcean Energy Holdings Ltd. 12,000 3,704 861 0.0 Noble Group Holdings Ltd. 827 12,503 617 0.0 Agritrade Resources Ltd. 30,000 8,668 397 0.0 Liquefied Natural Gas Ltd. 7,060 4,415 282 0.0 Ezra Holdings Ltd. 4,548 329 46 0.0 Ezion Holdings Ltd. Warrants Exp. 04/16/2023 4,918 0 0 0.0 1,504,946 1,353,636 1.3 Financials AIA Group Ltd. 112,157 1,238,919 1,725,800 1.7 Commonwealth Bank of Australia 16,429 1,243,406 1,525,343 1.5 Hong Kong Exchanges & Clearing Ltd. 11,800 552,656 870,788 0.9 Westpac Banking Corp. 33,942 917,153 814,417 0.8 Mitsubishi UFJ Financial Group, Inc. 114,600 870,066 767,274 0.8 National Australia Bank Ltd. 30,517 769,829 743,868 0.8 Australia & New Zealand Banking Group Ltd. 26,335 681,608 689,181 0.7 Sumitomo Mitsui Financial Group, Inc. 12,000 576,986 512,769 0.5 DBS Group Holdings Ltd. 16,617 365,204 456,327 0.5 Macquarie Group Ltd. 3,031 320,041 440,785 0.5 Mizuho Financial Group, Inc. 23,450 498,687 415,335 0.4 Oversea-Chinese Banking Corp. Ltd. 32,300 335,276 355,576 0.4 Tokio Marine Holdings, Inc. 5,991 343,773 341,423 0.4 United Overseas Bank Ltd. 11,800 268,154 280,673 0.3 ORIX Corp. 11,300 232,285 236,323 0.2 Dai-ichi Life Holdings, Inc. 9,900 216,196 224,661 0.2 KB Financial Group, Inc. 3,595 197,040 220,578 0.2 Shinhan Financial Group Co. Ltd. 4,641 213,951 207,189 0.2 Nomura Holdings, Inc. 28,200 194,602 178,643 0.2

177 Vanguard FTSE Developed Asia Pacific All Cap Index ETF

Description Number of Shares Cost ($) Fair Value ($) % of Net Assets Hang Seng Bank Ltd. 6,800 180,993 168,173 0.2 MS&AD Insurance Group Holdings, Inc. 4,400 175,681 157,481 0.2 Sompo Holdings, Inc. 3,100 146,433 142,011 0.2 BOC Hong Kong Holdings Ltd. 33,500 170,430 140,754 0.2 QBE Insurance Group Ltd. 13,808 137,458 138,508 0.2 Japan Exchange Group, Inc. 5,000 117,864 137,787 0.2 Hana Financial Group, Inc. 2,688 116,997 136,110 0.2 Sumitomo Mitsui Trust Holdings, Inc. 3,400 155,803 133,829 0.1 ASX Ltd. 1,783 104,644 128,810 0.1 Japan Post Holdings Co. Ltd. 12,091 168,773 122,797 0.1 Suncorp Group Ltd. 11,823 138,711 122,113 0.1 Insurance Australia Group Ltd. 22,985 141,286 110,259 0.1 Resona Holdings, Inc. 20,549 121,980 97,941 0.1 Daiwa Securities Group, Inc. 13,800 101,496 93,934 0.1 T&D Holdings, Inc. 5,000 83,285 80,106 0.1 Computershare Ltd. 5,062 68,749 79,530 0.1 Nihon M&A Center, Inc. 2,448 47,291 78,686 0.1 Singapore Exchange Ltd. 7,600 59,268 78,274 0.1 Medibank Pvt Ltd. 25,834 73,659 75,893 0.1 Samsung Fire & Marine Insurance Co. Ltd. 274 75,628 66,434 0.1 Magellan Financial Group Ltd. 1,312 45,359 65,693 0.1 SBI Holdings, Inc. 2,200 56,775 64,504 0.1 Woori Financial Group, Inc. 4,818 66,969 60,660 0.1 Samsung Life Insurance Co. Ltd. 602 64,200 52,824 0.1 Bank of Queensland Ltd. 6,041 53,213 51,162 0.1 Bendigo & Adelaide Bank Ltd. 5,153 45,682 50,252 0.1 Concordia Financial Group Ltd. 10,521 59,052 47,774 0.1 Shizuoka Bank Ltd. 4,700 48,007 45,044 0.1 Korea Investment Holdings Co. Ltd. 362 29,562 40,999 0.1 Chiba Bank Ltd. 5,400 46,829 40,305 0.1 Tokyo Century Corp. 600 38,930 39,964 0.1 Japan Post Bank Co. Ltd. 3,600 54,489 37,474 0.1 Mitsubishi HC Capital, Inc. 5,611 40,276 37,248 0.1 Japan Post Insurance Co. Ltd. 1,619 39,647 37,101 0.1 Bank of Kyoto Ltd. 650 39,918 36,550 0.1 Aozora Bank Ltd. 1,200 42,077 33,270 0.0 AMP Ltd. 29,497 100,273 30,850 0.0 Fukuoka Financial Group, Inc. 1,423 36,945 30,784 0.0 Infratil Ltd. 4,590 18,363 30,581 0.0 Mirae Asset Securities Co. Ltd. 2,926 30,501 30,340 0.0 Steadfast Group Ltd. 7,122 19,878 29,132 0.0 Challenger Ltd. 5,670 58,641 28,517 0.0 Bank of East Asia Ltd. 12,400 49,241 28,512 0.0 Shinsei Bank Ltd. 1,734 32,413 28,187 0.0 Industrial Bank of Korea 2,423 30,658 27,975 0.0 Samsung Securities Co. Ltd. 564 24,634 27,876 0.0 DB Insurance Co. Ltd. 443 32,003 26,694 0.0 Zenkoku Hosho Co. Ltd. 500 26,113 26,637 0.0 NIB Holdings Ltd. 4,021 23,028 24,335 0.0 JAFCO Group Co. Ltd. 300 16,658 23,128 0.0 BNK Financial Group, Inc. 2,585 20,437 21,972 0.0 Mebuki Financial Group, Inc. 8,200 35,937 21,408 0.0 IOOF Holdings Ltd. 5,306 34,352 21,063 0.0 Premier Investments Ltd. 788 14,709 20,915 0.0 IRESS Ltd. 1,719 19,883 20,631 0.0 Perpetual Ltd. 553 22,661 20,590 0.0 Iyo Bank Ltd. 3,000 23,365 18,275 0.0 KIWOOM Securities Co. Ltd. 125 14,841 18,006 0.0 Hirogin Holdings, Inc. 2,749 22,395 17,942 0.0 Mizuho Leasing Co. Ltd. 400 13,009 16,713 0.0 NH Investment & Securities Co. Ltd. 1,158 16,328 16,426 0.0 DGB Financial Group, Inc. 1,586 11,944 16,219 0.0 Pendal Group Ltd. 2,164 18,233 16,215 0.0 Acom Co. Ltd. 3,000 16,414 16,200 0.0 Fuyo General Lease Co. Ltd. 200 18,546 15,664 0.0 Hyundai Marine & Fire Insurance Co. Ltd. 550 20,577 15,422 0.0 Seven Bank Ltd. 5,600 21,782 14,745 0.0 AEON Financial Service Co. Ltd. 1,000 28,114 14,604 0.0 Hachijuni Bank Ltd. 3,400 21,317 13,580 0.0 Samsung Fire & Marine Insurance Co. Ltd. Pfd. 73 12,914 13,285 0.0 Gunma Bank Ltd. 3,400 16,933 13,277 0.0 Chugoku Bank Ltd. 1,400 19,455 13,183 0.0 Samsung Card Co. Ltd. 342 14,465 12,899 0.0 Kyushu Financial Group, Inc. 2,900 19,778 12,683 0.0

178 Vanguard FTSE Developed Asia Pacific All Cap Index ETF

Description Number of Shares Cost ($) Fair Value ($) % of Net Assets Netwealth Group Ltd. 789 6,669 12,579 0.0 Monex Group, Inc. 1,500 6,720 12,518 0.0 HUB24 Ltd. 465 6,259 12,325 0.0 Platinum Asset Management Ltd. 2,670 15,786 12,187 0.0 Centuria Capital Group 4,701 8,431 12,149 0.0 Yamaguchi Financial Group, Inc. 1,700 21,435 12,025 0.0 Credit Corp Group Ltd. 433 7,014 11,967 0.0 Meritz Fire & Marine Insurance Co. Ltd. 507 8,637 11,373 0.0 Hanwha Life Insurance Co. Ltd. 2,727 21,592 11,260 0.0 AUB Group Ltd. 535 8,633 11,136 0.0 Aiful Corp. 2,600 10,989 11,110 0.0 Meritz Securities Co. Ltd. 2,114 10,067 11,007 0.0 Tokai Tokyo Financial Holdings, Inc. 2,500 17,951 10,989 0.0 Shiga Bank Ltd. 500 13,667 10,833 0.0 Australian Ethical Investment Ltd. 1,367 9,451 10,726 0.0 Pinnacle Investment Management Group Ltd. 960 8,665 10,683 0.0 JB Financial Group Co. Ltd. 1,275 8,940 10,557 0.0 Orient Corp. 6,400 12,607 10,425 0.0 Korean Reinsurance Co. 955 10,610 10,344 0.0 Kiyo Bank Ltd. 600 11,673 9,619 0.0 Daishi Hokuetsu Financial Group, Inc. 350 19,718 9,423 0.0 Genworth Mortgage Insurance Australia Ltd. 4,594 10,928 9,396 0.0 Haitong International Securities Group Ltd. 27,000 20,554 9,213 0.0 Meritz Financial Group, Inc. 394 6,284 9,185 0.0 Japan Securities Finance Co. Ltd. 1,000 6,809 9,048 0.0 Matsui Securities Co. Ltd. 1,000 10,628 9,037 0.0 EML Payments Ltd. 2,774 9,401 8,974 0.0 Eclipx Group Ltd. 4,056 14,881 8,559 0.0 Mirae Asset Securities Co. Ltd. Pfd. 1,578 7,115 8,277 0.0 Ogaki Kyoritsu Bank Ltd. 400 14,944 8,274 0.0 Hokuhoku Financial Group, Inc. 900 15,507 8,143 0.0 Omni Bridgeway Ltd. 2,290 6,006 7,983 0.0 Anicom Holdings, Inc. 800 7,532 7,935 0.0 Value Partners Group Ltd. 10,000 13,592 7,909 0.0 eGuarantee, Inc. 300 3,801 7,862 0.0 Hyakugo Bank Ltd. 2,300 10,311 7,852 0.0 Nishi-Nippon Financial Holdings, Inc. 1,100 13,472 7,756 0.0 Australian Finance Group Ltd. 2,916 7,133 7,726 0.0 McMillan Shakespeare Ltd. 631 9,608 7,597 0.0 North Pacific Bank Ltd. 2,800 11,714 7,372 0.0 San-In Godo Bank Ltd. 1,200 6,951 7,216 0.0 JACCS Co. Ltd. 243 7,049 7,049 0.0 Suruga Bank Ltd. 1,900 48,448 7,038 0.0 77 Bank Ltd. 517 12,238 7,026 0.0 Heartland Group Holdings Ltd. 3,780 5,816 6,770 0.0 Awa Bank Ltd. 300 7,984 6,728 0.0 Juroku Bank Ltd. 300 11,844 6,547 0.0 Okasan Securities Group, Inc. 1,400 11,115 6,498 0.0 Nanto Bank Ltd. 300 11,774 6,149 0.0 M&A Capital Partners Co. Ltd. 100 4,320 6,047 0.0 Daishin Securities Co. Ltd. 259 3,425 5,625 0.0 Musashino Bank Ltd. 300 12,356 5,590 0.0 Bank of Nagoya Ltd. 200 7,929 5,523 0.0 Bank of Okinawa Ltd. 200 9,141 5,516 0.0 Dah Sing Banking Group Ltd. 4,000 10,848 5,466 0.0 Keiyo Bank Ltd. 1,200 13,759 5,449 0.0 Guotai Junan International Holdings Ltd. 26,635 11,037 5,266 0.0 Aruhi Corp. 320 7,691 5,113 0.0 Tokyo Kiraboshi Financial Group, Inc. 300 10,216 5,007 0.0 Hokkoku Bank Ltd. 200 9,217 4,938 0.0 TOMONY Holdings, Inc. 1,500 6,737 4,903 0.0 Hyakujushi Bank Ltd. 300 6,834 4,880 0.0 Senshu Ikeda Holdings, Inc. 2,700 13,341 4,790 0.0 Hanwha Investment & Securities Co. Ltd. 901 3,592 4,736 0.0 Marusan Securities Co. Ltd. 700 8,920 4,717 0.0 Aomori Bank Ltd. 200 8,009 4,581 0.0 Toho Bank Ltd. 2,000 8,822 4,552 0.0 Humm Group Ltd. 4,894 9,096 4,504 0.0 Eugene Investment & Securities Co. Ltd. 863 3,209 4,337 0.0 J Trust Co. Ltd. 1,000 9,758 4,128 0.0 SK Securities Co. Ltd. 3,580 2,544 4,035 0.0 Sun Hung Kai & Co. Ltd. 6,000 4,158 3,990 0.0 Mirae Asset Life Insurance Co. Ltd. 834 4,241 3,925 0.0 Bank of Iwate Ltd. 200 6,715 3,793 0.0

179 Vanguard FTSE Developed Asia Pacific All Cap Index ETF

Description Number of Shares Cost ($) Fair Value ($) % of Net Assets San ju San Financial Group, Inc. 240 6,795 3,615 0.0 Ehime Bank Ltd. 400 5,932 3,485 0.0 Aichi Bank Ltd. 110 4,699 3,396 0.0 Dah Sing Financial Holdings Ltd. 800 6,407 3,387 0.0 Tochigi Bank Ltd. 1,686 4,453 3,217 0.0 Bank of the Ryukyus Ltd. 400 6,654 3,204 0.0 Akita Bank Ltd. 200 7,109 3,115 0.0 Shikoku Bank Ltd. 400 6,499 3,106 0.0 Fukui Bank Ltd. 200 5,736 3,010 0.0 Yamagata Bank Ltd. 300 7,952 2,775 0.0 KTB Investment & Securities Co. Ltd. 321 2,682 2,750 0.0 Daishin Securities Co. Ltd. Pfd. 145 1,493 2,742 0.0 Hanwha General Insurance Co. Ltd. 507 2,339 2,718 0.0 Sparx Group Co. Ltd. 900 2,618 2,571 0.0 Convoy Global Holdings Ltd. 96,000 3,668 2,556 0.0 FIDEA Holdings Co. Ltd. 1,900 4,299 2,544 0.0 Miyazaki Bank Ltd. 100 3,530 2,209 0.0 Michinoku Bank Ltd. ADR 200 4,692 2,077 0.0 Tongyang Life Insurance Co. Ltd. 334 3,529 2,060 0.0 MyState Ltd. 438 2,044 1,906 0.0 Oita Bank Ltd. 100 2,632 1,869 0.0 Navigator Global Investments Ltd. 1,121 5,763 1,860 0.0 Yamanashi Chuo Bank Ltd. 200 2,091 1,805 0.0 Shimizu Bank Ltd. 100 4,422 1,637 0.0 Chukyo Bank Ltd. ADR 100 2,541 1,586 0.0 Bank of Saga Ltd. 100 2,098 1,525 0.0 Yuanta Securities Korea Co. Ltd. 230 1,245 1,219 0.0 15,049,774 15,476,381 15.4 Health Care CSL Ltd. 4,218 752,107 1,118,310 1.1 Takeda Pharmaceutical Co. Ltd. 14,138 747,004 586,619 0.6 Hoya Corp. 3,288 288,843 540,352 0.6 Daiichi Sankyo Co. Ltd. 17,463 342,073 466,526 0.5 Astellas Pharma, Inc. 17,134 324,721 369,802 0.4 M3, Inc. 3,950 141,795 357,537 0.4 Terumo Corp. 6,100 213,796 306,392 0.3 Eisai Co. Ltd. 2,460 206,850 299,846 0.3 Chugai Pharmaceutical Co. Ltd. 6,000 176,992 294,675 0.3 Celltrion, Inc. 962 220,878 284,020 0.3 Sysmex Corp. 1,800 192,067 265,087 0.3 Olympus Corp. 9,800 153,819 241,417 0.3 Otsuka Holdings Co. Ltd. 3,920 213,401 201,487 0.2 Shionogi & Co. Ltd. 2,500 169,568 161,523 0.2 Sonic Healthcare Ltd. 4,501 111,061 160,680 0.2 Fisher & Paykel Healthcare Corp. Ltd. 5,338 81,456 143,736 0.2 Cochlear Ltd. 588 96,082 137,572 0.2 Samsung Biologics Co. Ltd. 125 61,774 115,594 0.1 Ono Pharmaceutical Co. Ltd. 3,913 134,582 108,225 0.1 Kyowa Kirin Co. Ltd. 2,317 63,451 101,851 0.1 Ramsay Health Care Ltd. 1,617 101,534 94,630 0.1 Celltrion Healthcare Co. Ltd. 638 56,824 81,168 0.1 Kobayashi Pharmaceutical Co. Ltd. 575 53,769 60,880 0.1 Santen Pharmaceutical Co. Ltd. 3,400 67,667 58,038 0.1 Asahi Intecc Co. Ltd. 1,800 46,617 53,339 0.1 Ansell Ltd. 1,227 31,957 49,631 0.1 Nippon Shinyaku Co. Ltd. 500 45,365 49,146 0.1 PeptiDream, Inc. 800 38,898 48,644 0.1 Microport Scientific Corp. 4,000 4,432 44,424 0.1 Ryman Healthcare Ltd. 3,892 37,877 44,217 0.1 Hisamitsu Pharmaceutical Co. Inc. 700 48,231 42,720 0.1 Sumitomo Dainippon Pharma Co. Ltd. 1,600 31,303 41,557 0.1 Rohto Pharmaceutical Co. Ltd. 1,000 33,375 33,303 0.1 Medipal Holdings Corp. 1,400 34,422 33,145 0.1 SK Biopharmaceuticals Co. Ltd. 240 42,296 32,460 0.1 Alfresa Holdings Corp. 1,500 41,553 27,764 0.1 Shin Poong Pharmaceutical Co. Ltd. 291 61,409 27,518 0.0 Celltrion Pharm, Inc. 159 10,771 27,484 0.0 Taisho Pharmaceutical Holdings Co. Ltd. ADR 400 36,481 26,553 0.0 Yuhan Corp. 379 20,358 26,297 0.0 Suzuken Co. Ltd. 700 34,868 25,421 0.0 Alteogen, Inc. 275 10,768 25,310 0.0 Nihon Kohden Corp. 700 24,957 24,757 0.0 Tsumura & Co. 600 24,797 23,396 0.0

180 Vanguard FTSE Developed Asia Pacific All Cap Index ETF

Description Number of Shares Cost ($) Fair Value ($) % of Net Assets Ship Healthcare Holdings, Inc. 800 19,284 23,144 0.0 EBOS Group Ltd. 821 16,599 22,945 0.0 JCR Pharmaceuticals Co. Ltd. 548 15,680 22,866 0.0 Summerset Group Holdings Ltd. 1,958 14,639 22,719 0.0 Haw Par Corp. Ltd. 1,800 22,347 22,717 0.0 Hanmi Pharm Co. Ltd. 60 30,328 22,069 0.0 Seegene, Inc. 240 4,975 21,825 0.0 Menicon Co. Ltd. 242 11,774 21,060 0.0 Healius Ltd. 4,706 16,009 20,256 0.0 Sawai Group Holdings Co. Ltd. 308 18,731 17,010 0.0 Green Cross Corp. 46 12,767 16,616 0.0 As One Corp. 100 10,686 16,189 0.0 Miraca Holdings, Inc. 500 26,029 15,977 0.0 Kaken Pharmaceutical Co. Ltd. 283 18,850 15,029 0.0 Genexine, Inc. 147 15,691 14,548 0.0 Mani, Inc. 500 17,299 14,203 0.0 Chabiotech Co. Ltd. 429 10,098 13,562 0.0 Hugel, Inc. 51 10,296 13,436 0.0 Takara Bio, Inc. 400 9,508 13,232 0.0 Nipro Corp. 900 15,340 13,184 0.0 PolyNovo Ltd. 4,983 10,055 13,064 0.0 Nanosonics Ltd. 2,260 5,498 12,333 0.0 Everest Medicines Ltd. 1,000 11,291 12,318 0.0 Cellivery Therapeutics, Inc. 104 12,830 11,527 0.0 Japan Lifeline Co. Ltd. 700 16,159 10,551 0.0 Telix Pharmaceuticals Ltd. 1,849 7,958 10,468 0.0 Osstem Implant Co. Ltd. 83 6,235 10,377 0.0 Raffles Medical Group Ltd. 9,500 11,473 10,327 0.0 Chong Kun Dang Pharmaceutical Corp. 68 8,525 10,244 0.0 Amicogen, Inc. 207 8,594 10,004 0.0 Toho Holdings Co. Ltd. 500 14,769 9,969 0.0 Hanmi Science Co. Ltd. 118 12,061 9,926 0.0 MedPeer, Inc. 200 15,561 9,829 0.0 ZERIA Pharmaceutical Co. Ltd. 400 9,251 9,349 0.0 Daewoong Pharmaceutical Co. Ltd. 49 8,307 9,267 0.0 Vaxcell-Bio Therapeutics Co. Ltd. 93 12,309 9,255 0.0 JINS Holdings, Inc. 94 7,260 8,925 0.0 Pharmicell Co. Ltd. 447 4,505 8,921 0.0 Medytox, Inc. 34 17,854 8,860 0.0 Paramount Bed Holdings Co. Ltd. 400 11,230 8,832 0.0 Clinuvel Pharmaceuticals Ltd. 306 8,345 8,733 0.0 Oscotec, Inc. 203 6,849 8,717 0.0 LegoChem Biosciences, Inc. 148 5,045 8,658 0.0 BML, Inc. 200 6,683 8,457 0.0 ST Pharm Co. Ltd. 66 5,017 8,172 0.0 KYORIN Holdings, Inc. 400 10,116 8,086 0.0 Towa Pharmaceutical Co. Ltd. 266 5,838 8,025 0.0 Sam Chun Dang Pharm Co. Ltd. 133 7,779 7,956 0.0 Green Cross Holdings Corp. 211 9,173 7,912 0.0 Frontage Holdings Corp. 6,000 3,714 7,893 0.0 Helixmith Co. Ltd. 225 16,281 7,843 0.0 Arvida Group Ltd. 4,435 6,654 7,828 0.0 iNtRON Biotechnology, Inc. 284 9,391 7,713 0.0 Daewoong Co. Ltd. 149 6,422 7,659 0.0 Hogy Medical Co. Ltd. 200 7,740 7,620 0.0 Mesoblast Ltd. 4,095 8,286 7,538 0.0 Mezzion Pharma Co. Ltd. 49 6,816 7,365 0.0 CMG Pharmaceutical Co. Ltd. 1,255 6,565 7,272 0.0 Mochida Pharmaceutical Co. Ltd. 178 8,533 7,229 0.0 Kissei Pharmaceutical Co. Ltd. 300 10,112 7,206 0.0 Eiken Chemical Co. Ltd. 300 7,894 7,193 0.0 Korea United Pharm, Inc. 117 7,671 7,140 0.0 MedPacto, Inc. 92 6,488 7,091 0.0 Riverstone Holdings Ltd. 6,100 7,072 6,912 0.0 Green Cross LabCell Corp. 62 7,881 6,763 0.0 Pacific Edge Ltd. 6,328 5,815 6,735 0.0 DongKook Pharmaceutical Co. Ltd. 206 2,966 6,388 0.0 C-Mer Eye Care Holdings Ltd. 4,000 4,443 6,365 0.0 Solasto Corp. 400 4,641 6,275 0.0 Medipost Co. Ltd. 182 10,187 6,274 0.0 Eoflow Co. Ltd. 104 8,212 6,267 0.0 United Laboratories International Holdings Ltd. 6,165 6,180 6,262 0.0 Integral Diagnostics Ltd. 1,295 3,015 6,260 0.0 OliX Pharmaceuticals, Inc. 127 6,288 6,172 0.0

181 Vanguard FTSE Developed Asia Pacific All Cap Index ETF

Description Number of Shares Cost ($) Fair Value ($) % of Net Assets Dentium Co. Ltd. 84 8,491 5,994 0.0 Nagaileben Co. Ltd. 200 6,164 5,969 0.0 Bukwang Pharmaceutical Co. Ltd. 265 4,611 5,901 0.0 SillaJen, Inc. 441 33,206 5,868 0.0 Hanall Biopharma Co. Ltd. 243 7,613 5,798 0.0 DIO Corp. 127 5,750 5,788 0.0 Starpharma Holdings Ltd. Class A 4,066 4,353 5,651 0.0 Oceania Healthcare Ltd. 4,382 2,177 5,649 0.0 Tokai Corp. 200 3,817 5,427 0.0 Enzychem Lifesciences Corp. 50 6,780 5,366 0.0 Samsung Pharmaceutical Co. Ltd. 558 2,342 5,350 0.0 Dong-A ST Co. Ltd. 56 7,634 5,296 0.0 Komipharm International Co. Ltd. 437 17,596 5,262 0.0 Yungjin Pharmaceutical Co. Ltd. 798 10,048 5,142 0.0 Thomson Medical Group Ltd. 63,000 4,962 4,991 0.0 Nichi-iko Pharmaceutical Co. Ltd. 500 11,810 4,965 0.0 JW Pharmaceutical Corp. 149 7,262 4,907 0.0 L&C Bio Co. Ltd. 132 6,967 4,855 0.0 Seikagaku Corp. 400 5,929 4,824 0.0 Virtus Health Ltd. 783 4,344 4,804 0.0 Huons Co. Ltd. 69 4,281 4,719 0.0 ABLBio, Inc. 194 6,609 4,672 0.0 Mayne Pharma Group Ltd. 15,250 15,334 4,537 0.0 Aprogen Pharmaceuticals, Inc. 3,238 8,191 4,397 0.0 Binex Co. Ltd. 185 6,809 4,353 0.0 Beijing Tong Ren Tang Chinese Medicine Co. Ltd. 2,000 3,422 4,088 0.0 Eutilex Co. Ltd. 111 6,011 3,979 0.0 NKMax Co. Ltd. 243 5,673 3,874 0.0 CrystalGenomics, Inc. 447 6,135 3,863 0.0 Daito Pharmaceutical Co. Ltd. 100 3,837 3,760 0.0 Ilyang Pharmaceutical Co. Ltd. 90 4,654 3,751 0.0 Paradigm Biopharmaceuticals Ltd. 1,912 2,043 3,733 0.0 Anterogen Co. Ltd. 50 5,386 3,695 0.0 Estia Health Ltd. 1,493 5,789 3,428 0.0 Taiko Pharmaceutical Co. Ltd. 300 5,416 3,407 0.0 Dong-A Socio Holdings Co. Ltd. 25 4,820 3,340 0.0 Vital KSK Holdings, Inc. 416 4,942 3,323 0.0 Regis Healthcare Ltd. 1,817 7,485 3,294 0.0 Vieworks Co. Ltd. 79 2,659 3,244 0.0 Kwang Dong Pharmaceutical Co. Ltd. 308 2,660 3,055 0.0 Huons Global Co. Ltd. 41 2,732 3,025 0.0 Opthea Ltd. 2,304 6,500 2,859 0.0 Elan Corp. 200 1,694 2,858 0.0 Torii Pharmaceutical Co. Ltd. 100 3,700 2,712 0.0 Jeil Pharmaceutical Co. Ltd. 55 2,944 2,643 0.0 Fuji Pharma Co. Ltd. 200 3,660 2,573 0.0 Medical Data Vision Co. Ltd. 100 1,250 2,455 0.0 Lutronic Corp. 149 2,553 2,376 0.0 SCM Lifescience Co. Ltd. 66 2,433 2,351 0.0 AbClon, Inc. 88 4,162 2,279 0.0 InBody Co. Ltd. 59 2,031 1,959 0.0 Lee's Pharmaceutical Holdings Ltd. 2,500 2,409 1,937 0.0 CMIC Holdings Co. Ltd. 102 1,671 1,793 0.0 Dae Hwa Pharmaceutical Co. Ltd. 115 3,853 1,682 0.0 Peptron, Inc. 108 3,252 1,502 0.0 Humedix Co. Ltd. 37 1,406 1,446 0.0 Chong Kun Dang Holdings Corp. 11 1,443 1,300 0.0 Japara Healthcare Ltd. 1,048 1,229 1,247 0.0 ASKA Pharmaceutical Holdings Co. Ltd. 100 1,664 1,099 0.0 6,730,214 8,304,380 8.3 Industrials Keyence Corp. 1,702 657,425 1,064,712 1.1 Recruit Holdings Co. Ltd. 12,406 454,914 757,114 0.8 Hitachi Ltd. 8,600 396,913 610,332 0.6 Daikin Industries Ltd. 2,467 406,309 569,471 0.6 FANUC Corp. 1,803 503,921 539,003 0.6 Itochu Corp. 12,500 319,417 446,274 0.5 Mitsui & Co. Ltd. 14,900 313,873 415,676 0.4 SMC Corp. 526 305,074 385,268 0.4 Mitsubishi Corp. 11,000 353,225 371,613 0.4 Transurban Group 25,381 300,704 335,765 0.4 Mitsubishi Electric Corp. 18,300 344,342 329,225 0.3 Central Japan Railway Co. 1,716 388,878 322,596 0.3

182 Vanguard FTSE Developed Asia Pacific All Cap Index ETF

Description Number of Shares Cost ($) Fair Value ($) % of Net Assets East Japan Railway Co. 3,327 380,617 294,241 0.3 Komatsu Ltd. 8,500 301,751 261,787 0.3 Kubota Corp. 10,123 225,614 253,778 0.3 CK Hutchison Holdings Ltd. 25,000 353,943 241,175 0.3 Afterpay Touch Group Ltd. 2,068 63,261 227,185 0.2 Toshiba Corp. 4,049 152,098 217,062 0.2 Amcor plc CDI 14,288 204,325 200,970 0.2 Sumitomo Corp. 10,300 189,055 170,995 0.2 James Hardie Industries plc CDI 4,042 92,054 170,109 0.2 Secom Co. Ltd. 1,800 180,007 169,575 0.2 Marubeni Corp. 14,600 125,392 157,368 0.2 Jardine Matheson Holdings Ltd. 1,944 152,197 153,872 0.2 Yaskawa Electric Corp. 2,400 110,428 145,396 0.2 Brambles Ltd. 13,448 136,990 143,023 0.2 SG Holdings Co. Ltd. 3,900 69,361 126,750 0.1 Hyundai Merchant Marine Co. Ltd. 2,622 30,259 126,569 0.1 Nippon Paint Holdings Co. Ltd. 7,400 96,925 124,502 0.1 Minebea Mitsumi, Inc. 3,700 86,239 121,323 0.1 West Japan Railway Co. 1,700 146,389 120,135 0.1 Shimadzu Corp. 2,453 79,231 117,545 0.1 Toyota Tsusho Corp. 2,000 85,488 117,147 0.1 Samsung C&T Corp. 765 109,008 114,822 0.1 Yamato Holdings Co. Ltd. 3,100 89,133 109,293 0.1 MISUMI Group, Inc. 2,600 83,746 109,069 0.1 SEEK Ltd. 3,262 63,853 100,498 0.1 Daifuku Co. Ltd. 864 69,499 97,263 0.1 Disco Corp. 256 77,700 96,967 0.1 Mitsubishi Heavy Industries Ltd. 2,600 121,390 94,827 0.1 Nippon Yusen KK 1,468 41,674 92,210 0.1 Xinyi Glass Holdings Ltd. 18,000 29,881 90,841 0.1 Odakyu Electric Railway Co. Ltd. 2,900 83,881 90,788 0.1 Hamamatsu Photonics KK 1,200 62,251 89,701 0.1 MTR Corp. Ltd. 13,000 92,403 89,653 0.1 AGC, Inc. 1,700 78,428 88,385 0.1 TOTO Ltd. 1,300 77,215 83,398 0.1 LG Corp. 737 73,353 83,066 0.1 Isuzu Motors Ltd. 4,800 75,618 78,562 0.1 LIXIL Corp. 2,400 68,082 76,929 0.1 Boral Ltd. 11,220 61,532 76,666 0.1 Hankyu Hanshin Holdings, Inc. 2,000 91,644 76,424 0.1 Tok yu Corp. 4,509 91,663 76,013 0.1 Kintetsu Group Holdings Co. Ltd. 1,665 89,110 72,447 0.1 Auckland International Airport Ltd. 11,380 67,766 71,585 0.1 Lendlease Group 6,567 89,431 69,964 0.1 Fuji Electric Co. Ltd. 1,200 50,302 69,485 0.1 Dai Nippon Printing Co. Ltd. 2,600 72,816 68,139 0.1 Sydney Airport 12,573 75,129 67,677 0.1 Nippon Express Co. Ltd. 700 54,457 66,071 0.1 Kajima Corp. 4,200 81,601 65,930 0.1 Obayashi Corp. 6,400 85,653 63,050 0.1 Taisei Corp. 1,548 85,385 62,866 0.1 Azbil Corp. 1,200 35,685 61,653 0.1 Korea Shipbuilding & Offshore Engineering Co. Ltd. 405 56,183 59,675 0.1 Mitsui OSK Lines Ltd. 1,000 34,030 59,578 0.1 Kurita Water Industries Ltd. 1,000 37,807 59,466 0.1 Doosan Heavy Industries & Construction Co. Ltd. 2,205 37,445 57,826 0.1 Tobu Railway Co. Ltd. 1,800 68,404 57,677 0.1 GMO Payment Gateway, Inc. 356 37,437 57,473 0.1 SITC International Holdings Co. Ltd. 11,000 19,472 56,917 0.1 Kansai Paint Co. Ltd. 1,800 52,046 56,853 0.1 Ebara Corp. 900 36,846 54,925 0.1 Reece Ltd. 2,492 42,015 54,697 0.1 Aurizon Holdings Ltd. 15,633 70,299 54,064 0.1 Atlas Arteria Ltd. 9,109 52,352 53,943 0.1 ALS Ltd. 4,449 31,312 53,934 0.1 Toppan, Inc. 2,682 60,031 53,412 0.1 Keisei Electric Railway Co. Ltd. 1,300 52,787 51,416 0.1 Singapore Technologies Engineering Ltd. 14,200 47,003 50,625 0.1 Fletcher Building Ltd. 7,736 45,648 50,336 0.1 Hoshizaki Corp. 475 52,903 50,027 0.1 Shimizu Corp. 5,248 63,011 49,886 0.1 NGK Insulators Ltd. 2,340 53,944 48,664 0.1 Miura Co. Ltd. 900 33,671 48,348 0.1 Nabtesco Corp. 1,000 43,865 46,859 0.1

183 Vanguard FTSE Developed Asia Pacific All Cap Index ETF

Description Number of Shares Cost ($) Fair Value ($) % of Net Assets Venture Corp. Ltd. 2,500 40,446 44,241 0.1 Sojitz Corp. 11,800 41,431 44,103 0.1 Qube Holdings Ltd. 14,491 35,797 42,705 0.1 Swire Pacific Ltd. Class A 5,000 56,071 41,976 0.1 Yokogawa Electric Corp. 2,200 46,745 40,745 0.1 THK Co. Ltd. 1,100 42,879 40,683 0.1 Hyundai Engineering & Construction Co. Ltd. 621 31,370 39,810 0.1 Nagoya Railroad Co. Ltd. 1,700 57,836 39,185 0.1 Persol Holdings Co. Ltd. 1,600 39,663 39,183 0.1 Haseko Corp. 2,300 37,061 39,056 0.1 Samsung Engineering Co. Ltd. 1,484 25,542 39,000 0.1 Sumitomo Heavy Industries Ltd. 1,125 42,622 38,407 0.1 Hitachi Construction Machinery Co. Ltd. 1,000 38,060 37,878 0.1 Kawasaki Heavy Industries Ltd. 1,400 47,586 37,097 0.1 Hyundai Heavy Industries Holdings Co. Ltd. 473 40,223 36,823 0.1 Reliance Worldwide Corp. Ltd. 7,475 30,776 36,553 0.1 Keikyu Corp. 2,400 54,597 36,362 0.1 Hyundai Glovis Co. Ltd. 156 28,236 35,851 0.1 Kawasaki Kisen Kaisha Ltd. 800 20,774 35,657 0.1 Downer EDI Ltd. 6,823 37,872 35,458 0.1 Worley Ltd. 3,128 38,984 34,779 0.1 COMSYS Holdings Corp. 1,007 32,757 34,547 0.1 Sohgo Security Services Co. Ltd. 600 37,558 33,872 0.1 Keihan Holdings Co. Ltd. 900 43,063 33,738 0.1 Amada Holdings Co. Ltd. 2,600 36,339 32,576 0.1 IHI Corp. 1,100 36,729 32,350 0.0 Horiba Ltd. 400 29,412 32,132 0.0 Samsung Heavy Industries Co. Ltd. 4,289 39,757 31,645 0.0 Kyowa Exeo Corp. 1,000 28,339 30,514 0.0 Mitsubishi Materials Corp. 1,200 43,750 29,655 0.0 Jeol Ltd. 403 15,541 29,225 0.0 Seibu Holdings, Inc. 2,000 39,230 29,052 0.0 Zip Co. Ltd. 4,023 16,953 28,312 0.0 Japan Airport Terminal Co. Ltd. 500 28,609 27,836 0.0 GS Holdings Corp. 541 32,303 27,513 0.0 GS Engineering & Construction Corp. 583 20,629 27,501 0.0 Taiheiyo Cement Corp. 1,000 39,665 27,189 0.0 Orora Ltd. 8,506 28,374 26,332 0.0 Seven Group Holdings Ltd. 1,385 23,305 26,202 0.0 Hino Motors Ltd. 2,400 32,830 26,161 0.0 GS Yuasa Corp. 800 27,001 25,304 0.0 Kamigumi Co. Ltd. 1,000 26,111 25,136 0.0 Ulvac, Inc. 400 24,134 25,125 0.0 Ushio, Inc. 1,100 18,729 24,913 0.0 Sanwa Holdings Corp. 1,600 21,829 24,349 0.0 DL E&C Co. Ltd. 155 23,804 24,202 0.0 Nankai Electric Railway Co. Ltd. 900 29,051 23,828 0.0 Toyo Seikan Group Holdings Ltd. 1,400 26,510 23,695 0.0 Mabuchi Motor Co. Ltd. 500 27,984 23,429 0.0 Fuji Corp. 800 20,366 22,689 0.0 Kinden Corp. 1,100 22,748 22,262 0.0 Seino Holdings Co. Ltd. 1,400 24,596 22,242 0.0 Mitsubishi Logistics Corp. 604 20,765 22,170 0.0 Link Administration Holdings Ltd. 4,706 29,361 22,050 0.0 S-1 Corp. 243 23,927 21,884 0.0 Amano Corp. 700 21,469 21,875 0.0 Rengo Co. Ltd. 2,100 18,593 21,672 0.0 Sankyu, Inc. 400 20,763 21,488 0.0 CSR Ltd. 3,986 17,393 21,344 0.0 JGC Holdings Corp. 1,800 39,191 20,785 0.0 SHO-BOND Holdings Co. Ltd. 400 19,757 20,640 0.0 Park24 Co. Ltd. 900 26,445 20,263 0.0 Outsourcing, Inc. 895 16,261 20,160 0.0 Nishi-Nippon Railroad Co. Ltd. 669 22,767 20,093 0.0 Hyundai Rotem Co. Ltd. 748 17,069 19,945 0.0 Penta-Ocean Construction Co. Ltd. 2,300 18,728 19,836 0.0 Credit Saison Co. Ltd. 1,300 24,993 19,638 0.0 Benefit One, Inc. 500 8,595 19,497 0.0 Nishimatsu Construction Co. Ltd. 500 15,904 19,301 0.0 Fujitec Co. Ltd. 700 14,829 19,243 0.0 Daiwabo Holdings Co. Ltd. 900 16,812 19,149 0.0 Korea Aerospace Industries Ltd. 527 28,553 19,065 0.0 Kerry Logistics Network Ltd. 5,000 13,599 18,776 0.0 Hyundai Mipo Dockyard Co. Ltd. 195 10,799 18,740 0.0

184 Vanguard FTSE Developed Asia Pacific All Cap Index ETF

Description Number of Shares Cost ($) Fair Value ($) % of Net Assets FP Corp. 400 16,541 18,409 0.0 Ecopro BM Co. Ltd. 78 6,951 18,191 0.0 Doosan Infracore Co. Ltd. 1,126 11,830 17,891 0.0 Nippo Corp. 506 15,208 17,868 0.0 DMG Mori Co. Ltd. 800 16,484 17,797 0.0 BOC Aviation Ltd. 1,700 15,667 17,755 0.0 Pacific Basin Shipping Ltd. 35,098 9,086 17,517 0.0 Nippon Electric Glass Co. Ltd. 600 20,906 17,472 0.0 Aica Kogyo Co. Ltd. 400 15,780 17,427 0.0 Daewoo Engineering & Construction Co. Ltd. 1,988 14,285 17,379 0.0 Japan Elevator Service Holdings Co. Ltd. 600 7,521 17,284 0.0 NWS Holdings Ltd. 13,000 21,535 17,122 0.0 Toda Corp. 2,000 16,982 17,070 0.0 Japan Steel Works Ltd. 530 17,467 16,876 0.0 Pan Ocean Co. Ltd. 1,764 10,019 16,565 0.0 Hanwha Aerospace Co. Ltd. 320 14,599 16,538 0.0 Daewoo Shipbuilding & Marine Engineering Co. Ltd. 410 15,650 16,140 0.0 CIMIC Group Ltd. 877 31,255 16,127 0.0 OKUMA Corp. 265 16,786 16,054 0.0 KCC Corp. 42 21,155 15,864 0.0 CJ Corp. 132 23,781 15,531 0.0 Hazama Ando Corp. 1,700 15,426 15,515 0.0 Kokuyo Co. Ltd. 800 14,253 15,486 0.0 Furukawa Electric Co. Ltd. 500 25,797 15,436 0.0 Hitachi Transport System Ltd. 300 9,508 15,413 0.0 Mirait Holdings Corp. 700 12,836 15,393 0.0 Freightways Ltd. 1,401 9,349 15,274 0.0 SMS Co. Ltd. 400 11,244 14,839 0.0 Topcon Corp. 800 17,825 14,798 0.0 Tadano Ltd. 1,135 18,645 14,689 0.0 Koh Young Technology, Inc. 560 11,326 14,655 0.0 Hanwha Corp. 417 16,584 14,558 0.0 Takasago Thermal Engineering Co. Ltd. 700 13,967 14,464 0.0 Kureha Corp. 200 15,677 14,348 0.0 Maeda Corp. 1,335 17,625 14,343 0.0 Nisshinbo Holdings, Inc. 1,328 18,936 14,209 0.0 Brickworks Ltd. 606 8,640 14,124 0.0 Sumitomo Osaka Cement Co. Ltd. 417 19,249 14,050 0.0 IR Japan Holdings Ltd. 89 10,567 13,892 0.0 Hyundai Elevator Co. Ltd. 235 14,886 13,721 0.0 Nikkon Holdings Co. Ltd. 500 14,334 13,489 0.0 Meitec Corp. 200 13,162 13,411 0.0 Adelaide Brighton Ltd. 4,144 24,641 13,368 0.0 Nichias Corp. 428 12,279 13,347 0.0 en-japan, Inc. 300 12,296 13,221 0.0 Kanematsu Corp. 800 12,804 13,183 0.0 CKD Corp. 500 11,659 13,054 0.0 Okumura Corp. 400 14,070 13,036 0.0 Doosan Fuel Cell Co. Ltd. 236 3,299 12,975 0.0 Fukuyama Transporting Co. Ltd. 281 12,857 12,932 0.0 OSG Corp. 600 14,634 12,893 0.0 Glory Ltd. 500 22,245 12,847 0.0 DL Holdings Co. Ltd. 146 25,453 12,843 0.0 Toshiba TEC Corp. 249 9,247 12,696 0.0 Trusco Nakayama Corp. 400 13,521 12,638 0.0 Posco International Corp. 492 11,971 12,605 0.0 IPH Ltd. 1,737 9,187 12,596 0.0 Maruwa Co Ltd. 100 13,532 12,485 0.0 Nihon Parkerizing Co. Ltd. 1,000 14,051 12,373 0.0 Raksul, Inc. 200 9,871 12,116 0.0 Fujikura Ltd. 2,100 14,657 12,090 0.0 CJ Logistics Corp. 62 11,758 12,067 0.0 Hanwha Systems Co. Ltd. 643 12,788 12,055 0.0 Hitachi Zosen Corp. 1,500 9,853 11,999 0.0 Kyudenko Corp. 300 12,565 11,932 0.0 Takeuchi Manufacturing Co. Ltd. 384 9,943 11,854 0.0 Hyosung Corp. 103 40,561 11,666 0.0 HDC Hyundai Development Co-Engineering & Construction ADR 335 17,162 11,603 0.0 Hutchison Port Holdings Trust 41,300 21,638 11,507 0.0 Doosan Bobcat, Inc. 218 8,995 11,506 0.0 Taikisha Ltd. 300 11,848 11,095 0.0 Senko Group Holdings Co. Ltd. 915 9,179 11,066 0.0 Kandenko Co. Ltd. 1,135 13,928 10,979 0.0 Rorze Corp. 100 2,618 10,911 0.0

185 Vanguard FTSE Developed Asia Pacific All Cap Index ETF

Description Number of Shares Cost ($) Fair Value ($) % of Net Assets Makino Milling Machine Co. Ltd. 218 12,695 10,896 0.0 Takuma Co. Ltd. 581 9,403 10,884 0.0 Hanwa Co. Ltd. 300 12,333 10,744 0.0 Ssangyong C&E Co. Ltd. 1,155 4,790 10,605 0.0 Swire Pacific Ltd. Class B 7,500 12,887 10,440 0.0 Fuji Seal International, Inc. 400 15,395 10,394 0.0 Daihen Corp. 200 11,766 10,320 0.0 Tsubakimoto Chain Co. 289 13,879 10,221 0.0 Raito Kogyo Co. Ltd. 500 6,597 10,075 0.0 Tyro Payments Ltd. 2,938 10,178 10,051 0.0 LG International Corp. 288 10,041 9,880 0.0 Meidensha Corp. 400 10,779 9,858 0.0 IS Dongseo Co. Ltd. 147 7,447 9,828 0.0 Daiho Corp. 216 8,162 9,700 0.0 Tsugami Corp. 503 3,844 9,591 0.0 Johnson Electric Holdings Ltd. 3,000 11,934 9,591 0.0 Pushpay Holdings Ltd. 6,132 4,634 9,550 0.0 Central Glass Co. Ltd. 400 11,766 9,497 0.0 Nichiha Corp. 300 12,549 9,449 0.0 Tocalo Co. Ltd. 600 7,122 9,392 0.0 Kumagai Gumi Co. Ltd. 300 9,872 9,372 0.0 PI Advanced Materials Co. Ltd. 154 8,777 9,313 0.0 Singapore Post Ltd. 14,100 14,571 9,287 0.0 Hyundai Construction Equipment Co. Ltd. 150 14,097 9,121 0.0 Takara Standard Co. Ltd. 526 11,511 8,920 0.0 Toyo Ink SC Holdings Co. Ltd. 400 13,268 8,783 0.0 Nachi-Fujikoshi Corp. 200 13,166 8,725 0.0 Max Co. Ltd. 422 7,645 8,578 0.0 KEPCO Plant Service & Engineering Co. Ltd. 182 11,356 8,575 0.0 Sanyo Denki Co. Ltd. 100 9,077 8,568 0.0 Kanamoto Co. Ltd. 300 10,943 8,562 0.0 BeNext-Yumeshin Group Co. 600 12,004 8,535 0.0 Sumitomo Mitsui Construction Co. Ltd. 1,620 11,228 8,531 0.0 Nomura Co. Ltd. 800 9,718 8,524 0.0 SFA Engineering Corp. 179 8,005 8,523 0.0 Tsubaki Nakashima Co. Ltd. 442 12,405 8,423 0.0 LS Industrial Systems Co. Ltd. 136 8,214 8,359 0.0 Korea Electric Terminal Co. Ltd. 75 6,364 8,329 0.0 Pact Group Holdings Ltd. 2,418 13,295 8,317 0.0 Noritz Corp. 400 9,256 8,292 0.0 Maeda Road Construction Co. Ltd. 338 8,945 8,228 0.0 SK Networks Co. Ltd. 1,236 7,657 8,182 0.0 SOLUM Co. Ltd. 262 8,495 8,110 0.0 Tokai Holdings Corp. 800 9,764 8,078 0.0 Funai Soken Holdings, Inc. 300 7,172 8,060 0.0 LG Hausys Ltd. 73 8,915 7,891 0.0 Kintetsu World Express, Inc. 300 8,676 7,825 0.0 Yamazen Corp. 700 9,047 7,810 0.0 Maeda Kosen Co. Ltd. 200 4,847 7,787 0.0 Aeon Delight Co. Ltd. 200 9,236 7,776 0.0 Monadelphous Group Ltd. 796 10,786 7,733 0.0 ASKUL Corp. 400 8,255 7,729 0.0 Dip Corp. 200 6,531 7,665 0.0 Chudenko Corp. 300 10,127 7,635 0.0 Park Systems Corp. 53 7,915 7,611 0.0 Kitz Corp. 9 0 0 7,7 3 4 7, 5 8 1 0 . 0 Star Micronics Co. Ltd. 400 7,674 7,546 0.0 Japan Material Co. Ltd. 500 5,659 7,536 0.0 Hanjin Transportation Co. Ltd. 160 5,858 7,530 0.0 Totetsu Kogyo Co. Ltd. 300 11,197 7,524 0.0 TKC Corp. 200 6,732 7,509 0.0 Optex Group Co. Ltd. 362 9,825 7,496 0.0 Nikkiso Co. Ltd. 6 0 0 7,2 0 2 7, 4 7 7 0 . 0 SBS Holdings, Inc. 200 4,453 7,430 0.0 Hirata Corp. 100 12,602 7,386 0.0 UT Group Co. Ltd. 200 8,855 7,230 0.0 Chiyoda Corp. 1,463 14,547 7,198 0.0 Hamakyorex Co. Ltd. 201 8,375 7,154 0.0 Morita Holdings Corp. 400 7,919 7,136 0.0 Sumitomo Warehouse Co. Ltd. 400 6,435 7,127 0.0 Taihan Electric Wire Co. Ltd. 2,103 4,794 7,099 0.0 Nippon Sheet Glass Co. Ltd. 1,000 10,584 7,085 0.0 Sekisui Jushi Corp. 3 0 0 7,2 9 5 7, 0 6 2 0 . 0 Maruwa Unyu Kikan Co. Ltd. 400 4,219 7,047 0.0

186 Vanguard FTSE Developed Asia Pacific All Cap Index ETF

Description Number of Shares Cost ($) Fair Value ($) % of Net Assets Yokogawa Bridge Holdings Corp. 300 6,844 7,046 0.0 Tokyu Construction Co. Ltd. 800 9,132 7,024 0.0 SmartGroup Corp. Ltd. 1,012 9,115 6,943 0.0 Shibuya Corp. 200 7,418 6,928 0.0 Nishio Rent All Co. Ltd. 200 7,139 6,917 0.0 Trancom Co. Ltd. 77 7,972 6,847 0.0 Sodick Co. Ltd. 600 7,336 6,835 0.0 Hioki EE Corp. 100 2,831 6,772 0.0 Nissha Co. Ltd. 362 12,082 6,749 0.0 Yuasa Trading Co. Ltd. 200 7,673 6,716 0.0 Okamoto Industries, Inc. 146 9,786 6,662 0.0 Nippon Ceramic Co. Ltd. 200 6,270 6,518 0.0 Noritsu Koki Co. Ltd. 245 4,580 6,495 0.0 Raiznext Corp. 500 5,772 6,438 0.0 Sakai Moving Service Co. Ltd. 100 5,957 6,426 0.0 Litalico, Inc. 100 4,757 6,393 0.0 Sanki Engineering Co. Ltd. 400 6,166 6,270 0.0 NICE Information Service Co. Ltd. 227 3,705 6,265 0.0 Nissin Electric Co. Ltd. 400 5,898 6,261 0.0 HDC Holdings Co. Ltd. 439 18,543 6,251 0.0 Bunka Shutter Co. Ltd. 500 5,428 6,181 0.0 Hyundai Electric & Energy System Co. Ltd. 271 12,445 6,139 0.0 Nitto Kogyo Corp. 300 6,466 6,102 0.0 NHN KCP Corp. 95 6,750 6,069 0.0 Relia, Inc. 400 5,416 6,056 0.0 Nippon Densetsu Kogyo Co. Ltd. 300 7,320 6,041 0.0 Toppan Forms Co. Ltd. 500 6,267 6,036 0.0 Samwha Capacitor Co. Ltd. 91 8,524 6,034 0.0 Austal Ltd. 3,164 7,357 6,030 0.0 EPS Holdings, Inc. 300 6,821 6,018 0.0 Doosan Corp. Ltd. 57 8,593 5,998 0.0 Mcnex Co. Ltd. 115 3,338 5,994 0.0 Shinmaywa Industries Ltd. 557 7,100 5,960 0.0 Solus Advanced Materials Co. Ltd. 105 494 5,958 0.0 Nippon Chemi-Con Corp. 200 6,046 5,956 0.0 Riken Keiki Co. Ltd. 200 5,547 5,924 0.0 KEPCO Engineering & Construction Co. Inc. 105 5,957 5,831 0.0 Financial Products Group Co. Ltd. 700 10,146 5,795 0.0 GWA Group Ltd. 2,240 6,069 5,768 0.0 Tenma Corp. 200 4,804 5,726 0.0 Shibaura Machine Co. Ltd. 208 6,475 5,693 0.0 Mitsubishi Logisnext Co. Ltd. 500 6,753 5,673 0.0 Sakata INX Corp. 500 9,115 5,640 0.0 Mitsui-Soko Holdings Co. Ltd. 200 3,925 5,636 0.0 Shima Seiki Manufacturing Ltd. 266 14,235 5,636 0.0 Chilled & Frozen Logistics Holdings Co. Ltd. 300 6,968 5,623 0.0 S-Pool, Inc. 500 3,924 5,584 0.0 Shun Tak Holdings Ltd. 14,000 7,326 5,581 0.0 Furukawa Co. Ltd. 400 10,387 5,578 0.0 HI-LEX Corp. 300 6,395 5,573 0.0 Aida Engineering Ltd. 500 7,001 5,517 0.0 Nissei ASB Machine Co. Ltd. 100 3,202 5,506 0.0 Sintokogio Ltd. 600 8,681 5,496 0.0 Toa Corp. 200 6,907 5,494 0.0 Bando Chemical Industries Ltd. 549 7,713 5,464 0.0 Chugoku Marine Paints Ltd. 568 5,735 5,437 0.0 Dawonsys Co. Ltd. 252 4,598 5,431 0.0 YAMABIKO Corp. 400 6,813 5,422 0.0 Iino Kaiun Kaisha Ltd. 1,100 6,695 5,375 0.0 Insource Co. Ltd. 200 3,782 5,353 0.0 Giken Ltd. 105 5,324 5,307 0.0 Organo Corp. 76 5,390 5,283 0.0 Kyokuto Kaihatsu Kogyo Co. Ltd. 300 5,206 5,278 0.0 Link And Motivation, Inc. 600 5,434 5,235 0.0 Intage Holdings, Inc. 300 4,366 5,191 0.0 Tonami Holdings Co. Ltd. 100 6,851 5,188 0.0 FULLCAST Holdings Co. Ltd. 200 4,871 5,159 0.0 Tsukishima Kikai Co. Ltd. 400 5,211 5,159 0.0 Nippon Signal Co. Ltd. 500 6,855 5,110 0.0 Nearmap Ltd. 2,895 7,778 5,006 0.0 ESPEC Corp. 200 4,928 4,996 0.0 Fukushima Galilei Co. Ltd. 100 5,627 4,982 0.0 Obara Group, Inc. 117 8,212 4,973 0.0 Strike Co. Ltd. 100 6,325 4,948 0.0

187 Vanguard FTSE Developed Asia Pacific All Cap Index ETF

Description Number of Shares Cost ($) Fair Value ($) % of Net Assets Hosokawa Micron Corp. 74 6,065 4,912 0.0 Asia Cement China Holdings Corp. 5,000 5,683 4,847 0.0 Atrae, Inc. 200 2,970 4,822 0.0 Pasona Group, Inc. 200 3,420 4,820 0.0 Riken Technos Corp. 700 4,599 4,803 0.0 Daiichi Jitsugyo Co. Ltd. 100 3,747 4,781 0.0 Noritake Co. Ltd. 100 4,502 4,708 0.0 METAWATER Co. Ltd. 200 3,691 4,706 0.0 LX Holdings Corp. 379 5,175 4,688 0.0 Nohmi Bosai Ltd. 200 4,180 4,677 0.0 Daiken Corp. 200 5,846 4,655 0.0 Mitsui E&S Holdings Co. Ltd. 800 16,029 4,632 0.0 Wakita & Co. Ltd. 400 5,481 4,570 0.0 Fujimori Kogyo Co. Ltd. 100 5,370 4,530 0.0 Anest Iwata Corp. 400 5,230 4,516 0.0 Union Tool Co. 100 3,349 4,446 0.0 NRW Holdings Ltd. 3,255 5,291 4,433 0.0 Hanil Cement Co. Ltd. 25 4,134 4,385 0.0 Nichireki Co. Ltd. 300 6,722 4,375 0.0 Denyo Co. Ltd. 200 4,304 4,347 0.0 LIG Nex1 Co. Ltd. 92 2,770 4,294 0.0 Emeco Holdings Ltd. 4,272 9,410 4,190 0.0 Sinko Industries Ltd. 200 4,575 4,184 0.0 Taihei Dengyo Kaisha Ltd. 141 4,330 4,112 0.0 Meisei Industrial Co. Ltd. 500 3,540 4,083 0.0 Konoike Transport Co. Ltd. 300 4,125 4,057 0.0 Hibiya Engineering Ltd. 200 5,572 4,052 0.0 Tekken Corp. 196 5,605 4,028 0.0 Toenec Corp. 100 3,792 4,022 0.0 Hyosung Heavy Industries Corp. 50 3,783 4,013 0.0 Nippon Thompson Co. Ltd. 586 4,426 3,962 0.0 SWCC Showa Holdings Co. Ltd. 200 1,751 3,918 0.0 Mitsuboshi Belting Ltd. 200 4,793 3,905 0.0 NICE Holdings Co. Ltd. 186 3,781 3,896 0.0 Tsurumi Manufacturing Co. Ltd. 200 4,510 3,871 0.0 Doshisha Co. Ltd. 200 5,448 3,858 0.0 Ricoh Leasing Co. Ltd. 100 4,080 3,844 0.0 HS Industries Co. Ltd. 443 5,461 3,843 0.0 Sankyo Tateyama, Inc. 400 4,127 3,816 0.0 Eagle Industry Co. Ltd. 300 6,207 3,759 0.0 Maruzen Showa Unyu Co. Ltd. 100 3,575 3,726 0.0 Oriental Shiraishi Corp. 1,200 4,092 3,722 0.0 Inscobee, Inc. 1,073 12,096 3,675 0.0 Toyo Corp. 300 3,523 3,645 0.0 Komori Corp. 400 6,702 3,628 0.0 Taeyoung Engineering & Construction Co. Ltd. 253 3,957 3,477 0.0 Futaba Corp. 400 9,632 3,468 0.0 Vidente Co. Ltd. 346 6,781 3,462 0.0 Asahi Diamond Industrial Co. Ltd. 600 7,925 3,447 0.0 Nippon Koei Co. Ltd. 100 3,693 3,442 0.0 World Holdings Co. Ltd. 100 5,307 3,386 0.0 Iseki & Co. Ltd. 200 5,755 3,302 0.0 Bell System24 Holdings, Inc. 169 3,092 3,296 0.0 WDB Holdings Co. Ltd. 100 5,011 3,250 0.0 Rheon Automatic Machinery Co. Ltd. 200 5,371 3,218 0.0 Electro Optic Systems Holdings Ltd. 799 3,484 3,201 0.0 Yamashin-Filter Corp. 400 6,853 3,151 0.0 Advan Co. Ltd. 300 3,606 3,130 0.0 Sinfonia Technology Co. Ltd. 219 4,880 3,052 0.0 Tanseisha Co. Ltd. 307 3,919 3,038 0.0 Oyo Corp. 217 3,355 3,024 0.0 Pack Corp. 100 4,117 3,015 0.0 Japan Transcity Corp. 500 2,835 2,996 0.0 Kyodo Printing Co. Ltd. 100 4,192 2,957 0.0 Torishima Pump Manufacturing Co. Ltd. 300 4,008 2,882 0.0 Osaki Electric Co. Ltd. 423 3,793 2,869 0.0 Dai-Dan Co. Ltd. 100 3,106 2,847 0.0 CTS Co. Ltd. 300 2,670 2,838 0.0 Teikoku Electric Manufacturing Co. Ltd. 200 3,119 2,836 0.0 Onoken Co. Ltd. 200 3,885 2,832 0.0 Kyosan Electric Manufacturing Co. Ltd. 600 5,408 2,825 0.0 Korea Line Corp. 711 2,263 2,760 0.0 Optorun Co. Ltd. 100 4,373 2,756 0.0 Nippon Road Co. Ltd. 32 2,995 2,753 0.0

188 Vanguard FTSE Developed Asia Pacific All Cap Index ETF

Description Number of Shares Cost ($) Fair Value ($) % of Net Assets Hochiki Corp. 200 5,143 2,620 0.0 KCC Glass Corp. 38 1,951 2,620 0.0 CI Takiron Corp. 400 3,614 2,606 0.0 Fudo Tetra Corp. 131 3,008 2,583 0.0 Sambu Engineering & Construction Co. Ltd. 747 2,638 2,583 0.0 SIA Engineering Co. Ltd. 1,300 2,538 2,575 0.0 KH FEELUX Co. Ltd. 662 3,027 2,555 0.0 Sumitomo Densetsu Co. Ltd. 100 2,274 2,550 0.0 HITO - Communications Holdings, Inc. 100 1,870 2,549 0.0 JDC Corp. 400 2,572 2,544 0.0 Tatsuta Electric Wire and Cable Co. Ltd. 400 3,529 2,459 0.0 Shinwa Co Ltd. 100 2,400 2,441 0.0 Nihon Tokushu Toryo Co. Ltd. 200 5,001 2,432 0.0 Yahagi Construction Co. Ltd. 300 2,888 2,376 0.0 Maezawa Kyuso Industries Co. Ltd. 200 2,007 2,298 0.0 Aiphone Co. Ltd. 100 2,135 2,286 0.0 Takamatsu Construction Group Co. Ltd. 100 3,092 2,256 0.0 Shin Nippon Air Technologies Co. Ltd. 100 2,273 2,255 0.0 Furuno Electric Co. Ltd. 200 2,261 2,240 0.0 Bubs Australia Ltd. 5,509 3,596 2,228 0.0 W-Scope Corp. 300 7,361 2,129 0.0 Fukuda Corp. 39 2,347 2,097 0.0 Nitto Kohki Co. Ltd. 100 3,392 2,009 0.0 Singamas Container Holdings Ltd. 14,000 2,845 1,964 0.0 Dai Nippon Toryo Co. Ltd. 200 3,162 1,877 0.0 Shinnihon Corp. 200 2,009 1,874 0.0 Nisso Corp. 200 3,034 1,848 0.0 Yushin Precision Equipment Co. Ltd. 200 3,919 1,801 0.0 JSP Corp. 100 3,643 1,780 0.0 CMBC Capital Holdings Ltd. 110,000 3,090 1,736 0.0 Youlchon Chemical Co. Ltd. 69 1,832 1,688 0.0 Nissin Corp. 100 3,614 1,633 0.0 Ohara, Inc. 100 3,387 1,630 0.0 Yurtec Corp. 200 1,880 1,609 0.0 Hokkan Holdings Ltd. 100 2,540 1,559 0.0 Yoma Strategic Holdings Ltd. 12,600 6,824 1,555 0.0 Kumho E&C Co. Ltd. 108 1,235 1,508 0.0 COSCO Shipping International Singapore Co. Ltd. 5,000 1,327 1,359 0.0 Toyo Construction Co. Ltd. 200 1,298 1,265 0.0 Shimojima Co. Ltd. 100 1,220 1,233 0.0 Kanaden Corp. 100 1,640 1,171 0.0 Fujikura Kasei Co. Ltd. 200 1,434 1,160 0.0 Takamiya Co. Ltd. 200 1,384 1,138 0.0 VPower Group International Holdings Ltd. Class H 4,000 1,485 1,116 0.0 MH Development Ltd. 4,000 4,792 740 0.0 16,313,933 18,159,189 18.1 Real Estate Goodman Group 16,790 174,379 330,440 0.3 Mitsui Fudosan Co. Ltd. 8,500 254,255 244,006 0.3 Sun Hung Kai Properties Ltd. 13,014 252,041 240,094 0.3 Link REIT 19,300 211,254 231,580 0.2 Mitsubishi Estate Co. Ltd. 10,531 244,915 211,076 0.2 CK Asset Holdings Ltd. 19,966 189,946 170,645 0.2 Sumitomo Realty & Development Co. Ltd. 3,687 151,007 163,307 0.2 Scentre Group 47,422 170,898 120,796 0.1 Nippon Building Fund, Inc. 14 107,353 108,244 0.1 Wharf Real Estate Investment Co. Ltd. 15,000 113,957 107,991 0.1 Dexus 10,153 96,064 100,712 0.1 Mirvac Group 36,787 84,907 99,862 0.1 Stockland 22,073 91,206 95,624 0.1 Japan Real Estate Investment Corp. 12 89,018 91,442 0.1 New World Development Co. Ltd. 13,750 91,838 88,467 0.1 Japan Metropolitan Fund Investment Corp. 64 77,581 85,970 0.1 GPT Group 18,395 89,025 83,795 0.1 Nippon Prologis REIT, Inc. 21 84,644 82,823 0.1 Ascendas REIT 30,408 82,890 82,636 0.1 Daito Trust Construction Co. Ltd. 600 102,191 81,334 0.1 GLP J-REIT 38 77,423 81,231 0.1 CapitaLand Ltd. 23,600 76,537 80,658 0.1 CapitaLand Integrated Commercial Trust 41,140 79,880 79,209 0.1 Nomura Real Estate Master Fund, Inc. 39 72,049 77,494 0.1 REA Group Ltd. 474 39,145 74,484 0.1 ESR Cayman Ltd. 17,409 64,000 72,730 0.1

189 Vanguard FTSE Developed Asia Pacific All Cap Index ETF

Description Number of Shares Cost ($) Fair Value ($) % of Net Assets Henderson Land Development Co. Ltd. 11,798 71,431 69,230 0.1 Hongkong Land Holdings Ltd. 10,900 86,834 64,248 0.1 Charter Hall Group 4,389 34,475 63,325 0.1 Sino Land Co. Ltd. 32,000 64,806 62,455 0.1 Daiwa House REIT Investment Corp. 17 57,680 62,116 0.1 Hang Lung Properties Ltd. 19,000 56,536 57,139 0.1 Wharf Holdings Ltd. 12,000 45,673 56,638 0.1 Orix JREIT, Inc. 22 46,879 52,477 0.1 Vicinity Centres 35,732 76,202 51,322 0.1 Mapletree Logistics Trust 26,983 39,376 50,957 0.1 United Urban Investment Corp. 28 46,338 50,201 0.1 Hulic Co. Ltd. 3,400 45,408 47,417 0.1 Mapletree Industrial Trust 17,925 39,274 46,731 0.1 Advance Residence Investment Corp. 11 41,965 45,408 0.1 Tokyu Fudosan Holdings Corp. 5,816 46,743 43,345 0.1 Mapletree Commercial Trust 20,944 36,913 41,675 0.1 Open House Co. Ltd. 700 20,486 40,767 0.1 Japan Prime Realty Investment Corp. 8 35,606 38,826 0.1 Sekisui House REIT, Inc. 37 36,028 37,978 0.1 Industrial & Infrastructure Fund Investment Corp. 16 35,691 37,826 0.1 Activia Properties, Inc. 6 31,591 35,211 0.1 Kenedix Office Investment Corp. 4 33,544 34,943 0.1 Swire Properties Ltd. 9,200 37,079 33,961 0.1 Frasers Logistics & Commercial Trust 25,411 27,884 33,709 0.1 Mitsui Fudosan Logistics Park, Inc. 5 32,098 33,024 0.1 Tokyo Tatemono Co. Ltd. 1,800 30,983 31,810 0.0 Nomura Real Estate Holdings, Inc. 1,000 27,655 31,440 0.0 Mori Hills REIT Investment Corp. 16 28,020 29,740 0.0 Hysan Development Co. Ltd. 6,000 33,143 29,611 0.0 LaSalle Logiport REIT 14 27,707 29,302 0.0 Japan Hotel REIT Investment Corp. 39 26,971 28,979 0.0 Nippon Accommodations Fund, Inc. 4 28,583 28,606 0.0 Hang Lung Group Ltd. 9,000 34,488 28,415 0.0 Keppel DC REIT 12,177 20,776 27,932 0.0 UOL Group Ltd. 4,100 28,889 27,572 0.0 City Developments Ltd. 4,100 37,311 27,534 0.0 AEON REIT Investment Corp. 15 24,927 27,530 0.0 Relo Group, Inc. 960 28,638 27,205 0.0 Kenedix Residential Next Investment Corp. 10 24,260 26,788 0.0 Japan Logistics Fund, Inc. 7 25,543 26,085 0.0 Daiwa Securities Living Investments Corp. 19 24,776 25,607 0.0 Shopping Centres Australasia Property Group 10,313 23,048 24,161 0.0 NTT UD REIT Investment Corp. 13 21,882 23,801 0.0 Frontier Real Estate Investment Corp. 4 20,760 23,162 0.0 Japan Excellent, Inc. 13 20,934 23,032 0.0 Suntec REIT 17,100 27,598 22,999 0.0 Invesco Office J-REIT, Inc. 89 18,316 22,530 0.0 Kerry Properties Ltd. 5,500 22,292 22,451 0.0 Goodman Property Trust 11,075 19,420 22,088 0.0 Invincible Investment Corp. 44 19,464 21,011 0.0 Aeon Mall Co. Ltd. 1,100 25,037 20,998 0.0 Nippon REIT Investment Corp. 4 18,288 20,372 0.0 Mapletree North Asia Commercial Trust 21,100 22,296 20,215 0.0 Charter Hall Long Wale REIT 4,482 19,902 19,792 0.0 Frasers Centrepoint Trust 8,740 19,737 19,565 0.0 Comforia Residential REIT, Inc. 5 18,766 19,524 0.0 National Storage REIT 10,554 18,550 19,427 0.0 Keppel REIT 17,700 19,194 19,241 0.0 Hulic REIT, Inc. 9 16,686 18,787 0.0 Fortune REIT 14,000 20,263 18,573 0.0 Daiwa Office Investment Corp. 2 15,890 17,248 0.0 Kenedix Retail REIT Corp. 5 15,711 16,763 0.0 Mitsubishi Estate Logistics REIT Investment Corp. 3 14,621 16,451 0.0 Charter Hall Retail REIT 4,580 16,662 16,180 0.0 BWP Trust 4,054 13,722 16,055 0.0 Ascott Residence Trust 17,422 22,502 16,049 0.0 Tokyu REIT, Inc. 7 14,270 16,002 0.0 Waypoint REIT 6,511 14,672 15,859 0.0 Ingenia Communities Group 2,770 7,642 15,811 0.0 Heiwa Real Estate REIT, Inc. 8 13,802 15,620 0.0 Kiwi Property Group Ltd. 15,087 18,403 15,208 0.0 Hoshino Resorts REIT, Inc. 2 13,591 15,062 0.0 Centuria Industrial REIT 4,136 10,762 14,304 0.0 Heiwa Real Estate Co. Ltd. 300 8,491 14,024 0.0

190 Vanguard FTSE Developed Asia Pacific All Cap Index ETF

Description Number of Shares Cost ($) Fair Value ($) % of Net Assets Mori Trust Sogo REIT, Inc. 8 13,956 14,022 0.0 Cromwell Property Group 16,896 14,986 13,744 0.0 Precinct Properties New Zealand Ltd. 9,481 12,337 13,126 0.0 Parkway Life REIT 3,100 10,069 13,108 0.0 Manulife U.S. REIT 13,322 15,018 13,032 0.0 CapitaLand China Trust 9,987 14,224 12,604 0.0 Fukuoka REIT Corp. 6 11,439 12,518 0.0 Abacus Property Group 4,200 13,959 12,299 0.0 Ascendas India Trust 8,900 9,436 11,396 0.0 Arena REIT 3,362 8,105 11,252 0.0 Global One Real Estate Investment Corp. 8 11,091 11,175 0.0 Champion REIT 16,000 13,123 11,149 0.0 Ichigo Office REIT Investment Corp. 10 9,999 11,023 0.0 Aventus Group 3,712 8,624 10,870 0.0 Hankyu Hanshin REIT, Inc. 6 9,861 10,771 0.0 CRE Logistics REIT, Inc. 5 9,308 10,460 0.0 Star Asia Investment Corp. 15 9,162 10,409 0.0 Lifestyle Communities Ltd. 686 6,584 9,955 0.0 Growthpoint Properties Australia Ltd. 2,619 8,365 9,909 0.0 Vital Healthcare Property Trust 3,650 7,105 9,775 0.0 Starts Corp, Inc. 300 9,144 9,516 0.0 Cromwell European REIT 2,580 9,708 9,434 0.0 CDL Hospitality Trusts 8,324 12,491 9,432 0.0 Centuria Office REIT 4,301 9,575 9,356 0.0 ESR REIT 24,246 12,454 9,158 0.0 Rural Funds Group 3,634 7,691 8,953 0.0 SOSiLA Logistics REIT, Inc. 5 7,999 8,792 0.0 Mirai Corp. 15 8,216 8,686 0.0 Ichigo, Inc. 2,100 10,359 8,247 0.0 Cache Logistics Trust 10,617 8,363 8,167 0.0 APN Industria REIT 2,643 7,669 8,157 0.0 Shui On Land Ltd. 40,500 13,630 8,137 0.0 Charter Hall Social Infrastructure REIT 2,509 6,700 8,117 0.0 Daibiru Corp. 500 6,732 7,821 0.0 Argosy Property Ltd. 5,792 6,716 7,818 0.0 OUE Commercial REIT 20,560 10,061 7,671 0.0 Starhill Global REIT 14,800 10,519 7,635 0.0 Lendlease Global Commercial REIT 10,100 6,910 7,630 0.0 AIMS APAC REIT 5,600 7,528 7,583 0.0 One REIT, Inc. 2 6,784 7,218 0.0 K Wah International Holdings Ltd. 12,000 7,516 7,214 0.0 Sunlight REIT 1 0 , 0 0 0 7, 9 4 3 7, 1 5 9 0 . 0 SAMTY Co. Ltd. 300 5,979 7,133 0.0 Itochu Advance Logistics Investment Corp. 4 6,516 7,069 0.0 Lotte REIT Co. Ltd. 1,047 6,689 6,862 0.0 Keppel Pacific Oak U.S. REIT 6,800 6,087 6,610 0.0 SPH REIT 8,096 6,457 6,489 0.0 Far East Hospitality Trust 11,600 7,225 6,198 0.0 Wing Tai Holdings Ltd. 3,700 7,047 6,135 0.0 Keihanshin Building Co. Ltd. 400 3,815 6,078 0.0 Takara Leben Co. Ltd. 1,600 7,375 5,998 0.0 Nippon Kanzai Co. Ltd. 200 4,251 5,561 0.0 Starts Proceed Investment Corp. 2 5,305 5,400 0.0 ESR Kendall Square REIT Co. Ltd. 648 5,383 5,372 0.0 Prime U.S. REIT 5,000 5,441 5,356 0.0 GDI Property Group 5,082 5,673 5,291 0.0 Korea REIT Co. Ltd. 1,868 6,955 4,848 0.0 Prosperity REIT 10,000 5,387 4,736 0.0 Far East Consortium International Ltd. 10,000 6,164 4,672 0.0 HomeCo Daily Needs REIT 3,356 4,415 4,368 0.0 Takara Leben Real Estate Investment Corp. 3 4,036 4,160 0.0 Leopalace21 Corp. 2,600 21,952 4,032 0.0 Goldcrest Co. Ltd. 200 4,629 3,709 0.0 JR REIT XXVII 633 3,961 3,592 0.0 Hotel Property Investments 1,175 3,559 3,485 0.0 Cosmopolitan International Holdings Ltd. 14,000 4,165 3,416 0.0 Pressance Corp. 200 3,696 3,334 0.0 Hoosiers Holdings 400 3,260 3,186 0.0 Mori Trust Hotel REIT, Inc. 2 3,141 3,140 0.0 Road King Infrastructure Ltd. 2,000 3,506 3,081 0.0 First REIT 11,880 9,017 2,900 0.0 Samty Residential Investment Corp. 2 2,752 2,823 0.0 Sabana Shari'ah Compliant Industrial REIT 7,000 3,123 2,741 0.0 Seobu T&D 281 3,758 2,704 0.0

191 Vanguard FTSE Developed Asia Pacific All Cap Index ETF

Description Number of Shares Cost ($) Fair Value ($) % of Net Assets Korea Asset In Trust Co. Ltd. ADR 504 2,521 2,657 0.0 ES-Con Japan Ltd. 300 2,702 2,560 0.0 Tama Home Co. Ltd. 100 2,184 2,560 0.0 LIFULL Co. Ltd. 600 6,908 2,370 0.0 Lippo Malls Indonesia Retail Trust 40,200 2,400 2,333 0.0 Frasers Hospitality Trust 4,600 2,223 2,182 0.0 Chinese Estates Holdings Ltd. 3,000 1,966 1,732 0.0 Cedar Woods Properties Ltd. 262 1,832 1,634 0.0 TOC Co. Ltd. 200 1,863 1,522 0.0 Suncity Group Holdings Ltd. 20,000 6,302 1,244 0.0 Eagle Hospitality Trust Unit 5,800 4,232 984 0.0 Frasers Property Ltd. 888 978 924 0.0 5,969,076 6,141,779 6.1 Technology Samsung Electronics Co. Ltd. 43,403 2,513,798 3,851,438 3.8 Tokyo Electron Ltd. 1,404 401,383 753,136 0.8 SK Hynix, Inc. 4,780 438,279 670,143 0.7 Samsung Electronics Co. Ltd. Pfd. 7,724 414,797 625,950 0.6 Nidec Corp. 4,300 399,570 617,672 0.6 NAVER Corp. 1,245 298,812 571,552 0.6 Murata Manufacturing Co. Ltd. 5,276 372,178 499,281 0.5 Kakao Corp. 2,519 120,723 451,487 0.5 Fujitsu Ltd. 1,762 184,522 408,894 0.4 Samsung SDI Co. Ltd. 464 136,434 356,125 0.4 FUJIFILM Holdings Corp. 3,200 182,175 294,148 0.3 Canon, Inc. 9,200 364,924 257,942 0.3 Kyocera Corp. 2,800 215,014 214,551 0.2 Advantest Corp. 1,864 86,373 208,172 0.2 Omron Corp. 1,700 119,443 167,096 0.2 Lasertec Corp. 681 32,944 164,037 0.2 TDK Corp. 1,081 128,650 162,697 0.2 NEC Corp. 2,400 103,189 153,161 0.2 Z Holdings Corp. 24,500 131,014 152,197 0.2 Xero Ltd. 1,170 89,144 149,123 0.2 Obic Co. Ltd. 600 70,665 138,635 0.2 Renesas Electronics Corp. 9,210 114,348 123,408 0.1 NTT Data Corp. 5,800 87,021 112,142 0.1 Rakuten Group, Inc. 7,300 94,611 102,132 0.1 Samsung Electro-Mechanics Co. Ltd. 517 68,114 100,622 0.1 Nomura Research Institute Ltd. 2,400 54,257 98,404 0.1 Lenovo Group Ltd. 68,000 75,383 96,827 0.1 CyberAgent, Inc. 3,500 45,403 93,132 0.1 Rohm Co. Ltd. 800 85,619 91,665 0.1 SK Holdings Co. Ltd. 289 83,798 89,773 0.1 Ricoh Co. Ltd. 6,300 76,681 87,649 0.1 TIS, Inc. 2,200 40,634 69,634 0.1 Trend Micro, Inc. 1,042 66,658 67,660 0.1 Taiyo Yuden Co. Ltd. 1,100 37,916 67,376 0.1 Ibiden Co. Ltd. 1,000 27,188 66,830 0.1 Otsuka Corp. 1,000 48,405 65,044 0.1 SUMCO Corp. 2,100 51,303 63,845 0.1 Samsung SDS Co. Ltd. 302 67,100 61,434 0.1 AAC Technologies Holdings, Inc. 6,500 84,851 60,218 0.1 LG Display Co. Ltd. 2,112 57,646 56,897 0.1 Hirose Electric Co. Ltd. 309 55,018 56,021 0.1 Seiko Epson Corp. 2,500 57,912 54,501 0.1 Brother Industries Ltd. 2,200 56,595 54,416 0.1 BayCurrent Consulting, Inc. 113 11,275 50,303 0.1 NEXTDC Ltd. 4,421 32,073 48,745 0.1 ASM Pacific Technology Ltd. 2,900 45,376 48,646 0.1 Kakaku.com, Inc. 1,204 32,094 45,067 0.1 SCREEN Holdings Co. Ltd. 363 34,339 44,468 0.1 Koei Tecmo Holdings Co. Ltd. 676 16,402 40,878 0.1 Itochu Techno-Solutions Corp. 1,000 30,300 38,380 0.1 Sharp Corp. 1,800 47,776 36,811 0.1 Altium Ltd. 947 17,202 32,301 0.1 Oracle Corp. Japan 318 38,486 30,157 0.1 SCSK Corp. 400 25,246 29,543 0.0 NET One Systems Co. Ltd. 700 15,720 28,623 0.0 LG Innotek Co. Ltd. 116 17,820 28,444 0.0 Shinko Electric Industries Co. Ltd. 600 5,509 27,212 0.0 TechnoPro Holdings, Inc. 927 21,498 27,180 0.0 Konica Minolta Holdings, Inc. 3,800 41,564 26,031 0.0

192 Vanguard FTSE Developed Asia Pacific All Cap Index ETF

Description Number of Shares Cost ($) Fair Value ($) % of Net Assets Nihon Unisys Ltd. 600 17,065 22,358 0.0 Justsystems Corp. 300 14,710 21,890 0.0 DB HiTek Co. Ltd. 316 5,712 21,682 0.0 Alps Alpine Co. Ltd. 1,640 48,608 21,463 0.0 DeNA Co. Ltd. 806 20,817 21,231 0.0 Megaport Ltd. 1,235 7,462 21,160 0.0 WiseTech Global Ltd. 685 8,156 20,333 0.0 Pro Medicus Ltd. 371 5,774 20,253 0.0 Samsung SDI Co. Ltd. Pfd. 41 20,567 19,724 0.0 Internet Initiative Japan, Inc. 500 9,079 19,246 0.0 SHIFT, Inc. 100 18,251 19,201 0.0 Wonik IPS Co. Ltd. 345 10,837 18,816 0.0 Infomart Corp. 1,700 9,143 17,279 0.0 GMO Internet, Inc. 500 11,808 16,903 0.0 Tokyo Seimitsu Co. Ltd. 300 15,528 16,836 0.0 Vobile Group Ltd. 3,000 12,531 16,791 0.0 Digital Garage, Inc. 300 11,277 16,719 0.0 Systena Corp. 700 12,430 16,627 0.0 L&F Co. Ltd. 159 7,475 16,032 0.0 Macnica Fuji Electronics Holdings, Inc. 500 10,266 14,900 0.0 NSD Co. Ltd. 700 12,094 14,495 0.0 Inaba Denki Sangyo Co. Ltd. 500 12,979 14,426 0.0 Mitsui High-Tec, Inc. 200 5,216 14,258 0.0 LEENO Industrial, Inc. 73 4,016 14,087 0.0 Douzone Bizon Co. Ltd. 149 7,529 13,599 0.0 Iljin Materials Co. Ltd. 169 7,738 13,566 0.0 Change, Inc. 400 9,046 13,321 0.0 Dexerials Corp. 500 10,038 13,076 0.0 Mixi, Inc. 400 13,681 13,076 0.0 Fuji Soft, Inc. 200 8,214 12,429 0.0 Domain Holdings Australia Ltd. 2,591 8,915 12,429 0.0 Technology One Ltd. 1,425 6,919 12,333 0.0 NS Solutions Corp. 300 9,813 11,982 0.0 Iriso Electronics Co. Ltd. 200 13,010 11,960 0.0 DTS Corp. 400 8,734 11,804 0.0 Razer, Inc. 33,0 0 0 11,580 11,103 0.0 Eizo Corp. 200 11,062 11,079 0.0 Hyundai Bioscience Co. Ltd. 276 6,633 11,001 0.0 Appen Ltd. 868 11,928 10,974 0.0 Silicon Works Co. Ltd. 82 4,282 10,964 0.0 Eo Technics Co. Ltd. 80 8,175 10,468 0.0 OBIC Business Consultants Co. Ltd. 146 7,528 10,458 0.0 Wacom Co. Ltd. 1,300 8,273 10,240 0.0 Oki Electric Industry Co. Ltd. 900 16,102 10,222 0.0 Information Services International-Dentsu Ltd. ADR 200 3,887 10,220 0.0 Ai Holdings Corp. 415 13,246 10,140 0.0 LS Corp. 128 9,942 9,965 0.0 Japan Aviation Electronics Industry Ltd. 446 8,294 9,768 0.0 Hansen Technologies Ltd. 1,684 6,283 9,722 0.0 Sanken Electric Co. Ltd. 156 4,046 9,625 0.0 Digital Arts, Inc. 100 3,980 9,439 0.0 Elecom Co. Ltd. 400 5,199 9,291 0.0 Hanmi Semiconductor Co. Ltd. 249 7,017 9,268 0.0 Daou Technology, Inc. 292 6,989 9,151 0.0 SUNeVision Holdings Ltd. 7,000 7,491 8,874 0.0 Tokai Carbon Korea Co. Ltd. 40 4,543 8,867 0.0 Seoul Semiconductor Co. Ltd. 414 10,379 8,649 0.0 Canon Marketing Japan, Inc. 300 8,607 8,645 0.0 Tamura Corp. 900 6,311 8,364 0.0 SIMMTECH Co. Ltd. 311 7,952 8,293 0.0 V-Cube, Inc. 300 9,325 8,251 0.0 Hyundai Autoever Corp. 55 7,708 8,195 0.0 AfreecaTV Co. Ltd. 60 4,705 7,851 0.0 Tesna, Inc. 149 8,203 7,545 0.0 Argo Graphics, Inc. 2 0 0 7,4 9 6 7, 4 4 2 0 . 0 Dicker Data Ltd. 717 7,173 7,372 0.0 RS Technologies Co. Ltd. 100 7,391 7,297 0.0 Gree, Inc. 1,100 8,500 7,216 0.0 Megachips Corp. 2 0 0 7,8 0 9 7, 1 0 7 0 . 0 Computer Engineering & Consulting Ltd. 400 7,074 7,073 0.0 IDEC Corp. 300 7,182 7,032 0.0 Truly International Holdings Ltd. 20,000 8,801 6,984 0.0 Data#3 Ltd. 1,337 3,281 6,973 0.0 Zuken, Inc. 200 4,011 6,940 0.0

193 Vanguard FTSE Developed Asia Pacific All Cap Index ETF

Description Number of Shares Cost ($) Fair Value ($) % of Net Assets MCJ Co. Ltd. 500 6,188 6,912 0.0 Bravura Solutions Ltd. 2,114 6,139 6,898 0.0 Micronics Japan Co. Ltd. 400 5,553 6,873 0.0 GemVax & Kael Co. Ltd. 293 5,244 6,862 0.0 Transcosmos, Inc. 200 6,501 6,850 0.0 Infocom Corp. 200 6,106 6,839 0.0 Daeduck Electronics Co. Ltd. 381 4,409 6,808 0.0 AEM Holdings Ltd. 1,900 6,748 6,704 0.0 NEPES Corp. 143 1,538 6,667 0.0 Nichicon Corp. 500 6,762 6,666 0.0 Kaga Electronics Co. Ltd. 200 6,460 6,645 0.0 Jusung Engineering Co. Ltd. 389 5,116 6,630 0.0 Eugene Technology Co. Ltd. 133 4,503 6,625 0.0 Audinate Group Ltd. 870 6,132 6,576 0.0 Duk San Neolux Co. Ltd. 103 4,147 6,456 0.0 Shinsung E&G Co. Ltd. 2,033 7,730 6,449 0.0 TES Co. Ltd. 185 6,453 6,408 0.0 Base Co. Ltd. 100 7,255 6,371 0.0 BH Co. Ltd. 279 6,957 6,335 0.0 Restar Holdings Corp. 300 7,934 6,313 0.0 Tokyo Electron Device Ltd. 100 6,111 6,103 0.0 Sato Holdings Corp. 200 6,694 6,078 0.0 VSTECS Holdings Ltd. 6,000 4,676 5,999 0.0 V Technology Co. Ltd. 100 5,692 5,958 0.0 Riso Kagaku Corp. 300 5,841 5,944 0.0 Fineos Corp. Ltd. CDI 1,639 7,051 5,942 0.0 Melco Holdings, Inc. 100 5,987 5,913 0.0 Asiainfo Technologies Ltd. 2,800 6,201 5,893 0.0 Koa Corp. 300 5,475 5,800 0.0 Broadleaf Co. Ltd. 1,000 4,957 5,768 0.0 Hosiden Corp. 500 6,261 5,551 0.0 SFA Semicon Co. Ltd. 651 4,309 5,369 0.0 ITM Semiconductor Co. Ltd. 98 6,546 5,356 0.0 Comture Corp. 200 5,145 5,291 0.0 Cybozu, Inc. 200 3,733 5,264 0.0 Shindengen Electric Manufacturing Co. Ltd. 100 4,211 5,255 0.0 GMO GlobalSign Holdings KK 100 9,674 5,249 0.0 AhnLab, Inc. 65 4,085 5,132 0.0 Optim Corp. 200 3,283 5,067 0.0 EM Systems Co. Ltd. 500 4,855 4,837 0.0 Sanshin Electronics Co. Ltd. 200 3,410 4,822 0.0 S&S Tech Corp. 134 6,851 4,803 0.0 Advanced Process Systems Corp. 137 5,942 4,783 0.0 Siix Corp. 300 8,002 4,756 0.0 Enigmo, Inc. 300 6,605 4,749 0.0 Ines Corp. 300 3,881 4,632 0.0 COLOPL, Inc. 500 7,587 4,613 0.0 Cafe24 Corp. 138 14,678 4,560 0.0 Vista Group International Ltd. 2,181 2,163 4,510 0.0 Ryosan Co. Ltd. 200 8,685 4,505 0.0 Future Corp. 200 2,577 4,490 0.0 Zenrin Co. Ltd. 350 8,190 4,448 0.0 Enplas Corp. 107 4,362 4,411 0.0 Glory Sun Financial Group Ltd. 132,000 8,636 4,399 0.0 Daea TI Co. Ltd. 616 4,612 4,274 0.0 Innox Advanced Materials Co. Ltd. 59 4,965 4,249 0.0 TechMatrix Corp. 200 2,615 4,108 0.0 Partron Co. Ltd. 351 4,002 4,014 0.0 Kanematsu Electronics Ltd. 100 3,876 4,005 0.0 Canon Electronics, Inc. 200 4,864 3,829 0.0 Grace Technology, Inc. 200 5,983 3,586 0.0 Miroku Jyoho Service Co. Ltd. 200 5,943 3,559 0.0 Sourcenext Corp. 1,000 5,701 3,548 0.0 Shinko Shoji Co. Ltd. 400 3,606 3,468 0.0 KC Tech Co. Ltd. 106 3,124 3,421 0.0 SB Technology Corp. 100 2,646 3,420 0.0 FIT Hon Teng Ltd. 10,000 8,857 3,396 0.0 Tachibana Eletech Co. Ltd. 200 5,448 3,211 0.0 I'll, Inc. 200 2,970 3,180 0.0 Toptec Co. Ltd. 227 5,983 3,170 0.0 Istyle, Inc. 545 8,027 3,162 0.0 Mimasu Semiconductor Industry Co. Ltd. 100 2,853 3,058 0.0 Elematec Corp. 200 3,071 2,921 0.0 Ryoyo Electro Corp. 100 1,867 2,899 0.0

194 Vanguard FTSE Developed Asia Pacific All Cap Index ETF

Description Number of Shares Cost ($) Fair Value ($) % of Net Assets Nuix Ltd. 1,388 3,479 2,852 0.0 Posco ICT Co. Ltd. 301 2,413 2,833 0.0 Hansol Technics Co. Ltd. 280 4,790 2,814 0.0 ZIGExN Co. Ltd. 600 4,431 2,798 0.0 I-PEX, Inc. 100 2,729 2,743 0.0 KLab, Inc. 352 6,857 2,729 0.0 KH Vatec Co. Ltd. 107 1,591 2,577 0.0 Towa Corp. 100 1,400 2,545 0.0 Hancom, Inc. 95 2,438 2,523 0.0 CMK Corp. 503 4,691 2,419 0.0 Japan Display, Inc. 5,700 11,906 2,417 0.0 NEC Capital Solutions Ltd. 100 2,282 2,403 0.0 STCUBE 234 6,865 2,313 0.0 ICD Co. Ltd. 128 1,839 2,217 0.0 Fixstars Corp. 200 3,734 1,935 0.0 Silverlake Axis Ltd. 8,800 2,812 1,905 0.0 Ebase Co. Ltd. 200 3,560 1,899 0.0 RPA Holdings, Inc. 200 2,719 1,694 0.0 FDK Corp. 100 2,091 1,313 0.0 Poletowin Pitcrew Holdings, Inc. 100 1,230 1,216 0.0 COOKPAD, Inc. 400 6,753 1,120 0.0 Green Cross Cell Corp. 18 924 812 0.0 L&F Co. Ltd. Rights Exp. 07/20/2021 40 0 673 0.0 9,879,776 14,542,574 14.5 Telecommunications SoftBank Group Corp. 12,534 750,148 1,087,257 1.1 KDDI Corp. 15,600 557,756 603,073 0.6 Softbank Corp. 24,955 416,720 404,683 0.4 Nippon Telegraph & Telephone Corp. 11,132 346,986 359,492 0.4 Singapore Telecommunications Ltd. 68,937 217,734 145,050 0.2 Telstra Corp. Ltd. 38,569 143,732 134,818 0.2 Spark New Zealand Ltd. 17,884 63,212 74,277 0.1 SK Telecom Co. Ltd. 208 56,149 73,188 0.1 Hikari Tsushin, Inc. 200 46,672 43,534 0.1 LG Uplus Corp. 1,931 27,764 32,593 0.0 Anritsu Corp. 1,200 19,829 27,727 0.0 NetLink NBN Trust 26,100 21,164 22,842 0.0 PCCW Ltd. 34,670 26,778 22,500 0.0 VTech Holdings Ltd. 1,600 22,837 20,857 0.0 Chorus Ltd. 3,711 17,630 20,550 0.0 Codan Ltd. 1,182 4,852 19,812 0.0 Uniti Group Ltd. 6,347 11,588 19,531 0.0 TPG Telecom Ltd. 3,108 24,138 18,087 0.0 KMW Co. Ltd. 249 21,468 14,812 0.0 NEC Networks & System Integration Corp. 600 5,495 11,748 0.0 HKBN Ltd. 7,000 15,452 10,492 0.0 Seojin System Co. Ltd. 166 8,280 7,885 0.0 CITIC Telecom International Holdings Ltd. 16,000 6,422 6,557 0.0 SKY Perfect JSAT Holdings, Inc. 1,400 8,892 6,326 0.0 StarHub Ltd. 5,400 14,673 6,069 0.0 RFHIC Corp. 135 7,021 5,893 0.0 S-MAC Co. Ltd. 3,587 5,533 5,542 0.0 Solid, Inc. 620 4,961 5,133 0.0 FIH Mobile Ltd. 25,000 10,370 5,102 0.0 T-Gaia Corp. 200 5,195 4,358 0.0 INTOPS Co. Ltd. 123 1,482 4,152 0.0 ARTERIA Networks Corp. 200 4,429 4,030 0.0 Ace Technologies Corp. 195 6,701 4,010 0.0 Vision, Inc. 300 5,803 3,990 0.0 Telcon RF Pharmaceutical, Inc. 726 13,198 3,656 0.0 OptoElectronics Solutions Co. Ltd. 65 2,559 3,202 0.0 Service Stream Ltd. 3,479 7,366 2,814 0.0 Superloop Ltd. 3,242 2,850 2,803 0.0 SKY Network Television Ltd. 18,602 17,383 2,801 0.0 Icom, Inc. 100 2,763 2,672 0.0 G-treeBNT Co. Ltd. 199 11,134 2,538 0.0 Denki Kogyo Co. Ltd. 102 3,695 2,522 0.0 Hutchison Telecommunications Hong Kong Holdings Ltd. 6,000 1,298 1,464 0.0 RFHIC Corp. Rights Exp. 07/08/2021 15 0 163 0.0 SpeedCast International Ltd. 2,737 12,089 0 0.0 2,982,201 3,260,605 3.2

195 Vanguard FTSE Developed Asia Pacific All Cap Index ETF

Description Number of Shares Cost ($) Fair Value ($) % of Net Assets Utilities Hong Kong & China Gas Co. Ltd. 101,040 189,853 194,302 0.2 CLP Holdings Ltd. 15,000 196,212 183,692 0.2 Chubu Electric Power Co. Inc. 6,413 109,861 97,163 0.1 Power Assets Holdings Ltd. 12,500 131,057 94,975 0.1 Tokyo Gas Co. Ltd. 3,923 120,376 91,782 0.1 Kansai Electric Power Co. Inc. 6,700 101,091 79,199 0.1 Origin Energy Ltd. 16,693 105,352 69,989 0.1 Korea Electric Power Corp. 2,405 96,553 65,716 0.1 Meridian Energy Ltd. 11,519 41,740 53,124 0.1 Tokyo Electric Power Co. Holdings, Inc. 13,900 74,663 51,177 0.1 Contact Energy Ltd. 7,116 40,374 50,982 0.1 Toho Gas Co. Ltd. 800 38,901 48,555 0.1 Tohoku Electric Power Co. Inc. 4,500 66,871 43,679 0.1 AGL Energy Ltd. 5,646 110,830 43,040 0.1 CK Infrastructure Holdings Ltd. 5,500 51,803 40,605 0.1 Kyushu Electric Power Co. Inc. 4,100 54,432 39,110 0.0 Mercury NZ Ltd. 6,510 23,499 37,571 0.0 Iwatani Corp. 500 24,785 37,152 0.0 Chugoku Electric Power Co. Inc. 3,000 47,414 33,939 0.0 Cleanaway Waste Management Ltd. 12,092 19,189 29,677 0.0 AusNet Services Ltd. 15,866 26,147 25,812 0.0 Electric Power Development Co. Ltd. 1,400 43,338 24,757 0.0 Sims Ltd. 1,580 19,241 24,383 0.0 Daiseki Co. Ltd. 400 12,546 22,269 0.0 RENOVA, Inc. 400 6,525 19,525 0.0 Nippon Gas Co. Ltd. 900 14,058 18,958 0.0 Sembcorp Industries Ltd. 8,500 21,599 16,757 0.0 Keppel Infrastructure Trust 30,032 15,234 15,355 0.0 Genesis Energy Ltd. 4,550 12,623 13,386 0.0 Shikoku Electric Power Co. Inc. 1,500 24,191 12,652 0.0 Bingo Industries Ltd. 3,765 11,952 12,006 0.0 Korea Gas Corp. 274 14,612 11,117 0.0 Towngas China Co. Ltd. 12,000 10,791 10,983 0.0 Hokuriku Electric Power Co. 1,500 17,499 10,142 0.0 Hokkaido Electric Power Co. Inc. 1,700 16,325 9,540 0.0 Vector Ltd. 2,525 7,628 8,848 0.0 TY Holdings Co. Ltd. 243 8,680 7,802 0.0 Okinawa Electric Power Co. Inc. 472 10,331 7,293 0.0 Shizuoka Gas Co. Ltd. 600 6,420 6,661 0.0 Sembcorp Marine Ltd. 59,643 20,152 6,593 0.0 Saibu Gas Holdings Co. Ltd. 200 6,209 5,431 0.0 Mitsuuroko Group Holdings Co. Ltd. 400 3,848 5,271 0.0 Canvest Environmental Protection Group Co. Ltd. 5,000 2,550 3,604 0.0 GCL New Energy Holdings Ltd. 66,000 2,774 3,052 0.0 SK Gas Ltd. 21 2,389 2,829 0.0 Hyflux Ltd. 3,300 1,941 638 0.0 1,984,459 1,691,093 1.7 Total investments 87,680,546 99,765,193 99.2 Foreign currency contracts (Schedule 1) (22,761) (0.0) Futures contracts (Schedule 2) (4,123) (0.0) Other assets and liabilities (net) 822,902 0.8 Total net assets attributable to holders of redeemable units 100,561,211 100.0

Schedule 1—Foreign Currency Contracts As at June 30, 2021 (unaudited)

Unrealized Appreciation Number of Settlement (Depreciation) Credit Contracts Contract Price Currency Sold Currency Bought Date ($) Rating* 1 USD 0.001 U.S. Dollar 476,085 South Korean Won 537,166,789 Jul 01/21 1,125 AA- 1 USD 0.806 U.S. Dollar 500,000 Canadian Dollar 620,120 Jul 02/21 970 A+ 1 KRW 1,116.820 South Korean Won 85,391,618 U.S. Dollar 76,459 Sep 15/21 811 A+ 1 USD 0.744 U.S. Dollar 92,247 Singapore Dollar 124,067 Jul 01/21 63 A+ Unrealized appreciation of foreign currency contracts 2,969 1 USD 0.009 U.S. Dollar 1,835,794 Japanese Yen 202,862,536 Jul 01/21 (9,954) A+ 1 USD 0.774 U.S. Dollar 233,735 Australian Dollar 301,861 Sep 15/21 (8,724) A+

196 Vanguard FTSE Developed Asia Pacific All Cap Index ETF

Unrealized Appreciation Number of Settlement (Depreciation) Credit Contracts Contract Price Currency Sold Currency Bought Date ($) Rating* 1 USD 0.009 U.S. Dollar 242,013 Japanese Yen 26,516,116 Sep 15/21 (3,673) A+ 1 CAD 1.239 Canadian Dollar 3,717,021 U.S. Dollar 3,000,000 Jul 02/21 (2,121) A+ 1 USD 0.751 U.S. Dollar 530,886 Australian Dollar 706,476 Jul 01/21 (618) A+ 1 AUD 1.333 Australian Dollar 301,861 U.S. Dollar 226,460 Sep 15/21 (285) A+ 1 JPY 111.073 Japanese Yen 30,000,000 U.S. Dollar 270,093 Jul 01/21 (250) AA- 1 USD 0.129 U.S. Dollar 226,048 Hong Kong Dollar 1,755,017 Jul 02/21 (69) A+ 1 USD 0.699 U.S. Dollar 36,684 New Zealand Dollar 52,458 Jul 01/21 (36) A+ Unrealized depreciation of foreign currency contracts (25,730) Net unrealized depreciation of foreign currency contracts (22,761)

* Sources: Standard & Poor’s and Fitch.

Schedule 2—Futures Contracts As at June 30, 2021 (unaudited)

Unrealized Appreciation Number of (Depreciation) Contracts Description Expiration Date Contract Value Notional Value ($) 5 S&P 500 Index Micro E-mini Sep 17/21 USD 105,919 USD 107,215 1,605 Unrealized appreciation of futures contracts 1,605 2 TOPIX Sep 09/21 JPY 39,237,509 JPY 38,860,000 (4,212) 1 SPI 200 Index Sep 16/21 AUD 182,206 AUD 180,575 (1,516) Unrealized depreciation of futures contracts (5,728) Net unrealized depreciation of futures contracts (4,123)

197 Vanguard FTSE Developed Asia Pacific All Cap Index ETF

Fund-Specific Notes—Concentration Risk As at June 30, 2021 (unaudited), and December 31, 2020 % of net assets attributable to holders of redeemable units

June 30, December 31, Sector Allocation 2021 2020 Equities Industrials 18.1 18.1 Consumer Discretionary 18.0 17.5 Financials 15.4 14.7 Technology 14.5 14.4 Health Care 8.3 9.5 Basic Materials 7. 6 7. 6 Real Estate 6.1 5.1 Consumer Staples 5.0 5.6 Telecommunications 3.2 3.6 Utilities 1. 7 1. 9 Energy 1. 3 1. 2 Short-term — 0.0 Other assets and liabilities (net) 0.8 0.8 100.0 100.0

% of investment portfolio

June 30, December 31, Market Allocation 2021 2020 Equities Japan 56.2 57.8 Australia 17.5 16.8 South Korea 15.1 14.5 Hong Kong 7. 6 7. 3 Singapore 2.7 2.6 Other 0.9 1.0 100.0 100.0

198 Vanguard FTSE Developed Europe All Cap Index ETF

Statement of Financial Position As at June 30, 2021 (unaudited), and December 31, 2020

June 30, December 31, 2021 2020 Assets Current assets Investments $169,928,525 $150,723,074 Cash 382,484 1,036,787 Amounts receivable for investments sold 2,213,800 845,401 Margin due from brokers 106,544 257,587 Dividends receivable 945,429 1,204,528 Unrealized appreciation of foreign currency contracts 24,577 76,179 Unrealized appreciation of futures contracts — 20,697 Total assets 173,601,359 154,164,253 Liabilities Current liabilities Amounts payable for investments purchased 64,285 15,004 Distributions payable 2,173,574 972,312 Accrued expenses and other liabilities 16,828 5,721 Unrealized depreciation of foreign currency contracts 28,635 56,075 Unrealized depreciation of futures contracts 19,344 10,879 Total liabilities excluding net assets attributable to holders of redeemable units 2,302,666 1,059,991 Total net assets attributable to holders of redeemable units $171,298,693 $153,104,262 Number of redeemable units outstanding (Note 9) 5,330,000 5,080,000 Net assets attributable to holders of redeemable units per unit $32.14 $30.14

The accompanying notes are an integral part of the financial statements.

199 Vanguard FTSE Developed Europe All Cap Index ETF

Statement of Comprehensive Income For the six months ended June 30, 2021, and June 30, 2020 (unaudited)

2021 2020 Income Net gain (loss) on investments Dividend income $3,281,189 $3,284,859 Interest for distribution purposes 1,397 1,540 Net realized gain (loss) on sale of investments 868,099 (4,505,254) Change in unrealized appreciation/depreciation of investments 9,367,986 (20,013,666) Net gain (loss) on investments 13,518,671 (21,232,521) Net gain (loss) on derivatives Net realized gain (loss) on foreign currency contracts (34,480) (182,910) Net realized gain (loss) on futures contracts 259,714 (206,732) Change in unrealized appreciation/depreciation of foreign currency contracts (24,162) 7,696 Change in unrealized appreciation/depreciation of futures contracts (29,162) 40,261 Net gain (loss) on derivatives 171,910 (341,685) Other income 25,999 26,375 Net realized gain (loss) on foreign currency transactions 33,576 194,893 Change in unrealized appreciation/depreciation of foreign currency translations (55,352) 60,067 Total income (net) 13,694,804 (21,292,871) Expenses (Note 10) Management fees 175,361 209,633 Overdraft expenses 1,188 861 Independent Review Committee fees 1,341 1,352 Foreign withholding taxes 311,631 343,743 Transaction costs (Note 3) 33,284 26,506 Total expenses 522,805 582,095 Expenses absorbed or waived by manager (1,341) (1,352) Net expenses 521,464 580,743 Increase (decrease) in net assets attributable to holders of redeemable units $13,173,340 $(21,873,614) Weighted average number of redeemable units 5,070,884 7,015,714 Increase (decrease) in net assets attributable to holders of redeemable units per unit $2.60 $(3.12)

The accompanying notes are an integral part of the financial statements.

200 Vanguard FTSE Developed Europe All Cap Index ETF

Statement of Changes in Net Assets Attributable to Holders of Redeemable Units For the six months ended June 30, 2021, and June 30, 2020 (unaudited)

2021 2020 Net assets attributable to holders of redeemable units, beginning of period $153,104,262 $220,123,810 Increase (decrease) in net assets attributable to holders of redeemable units $13,173,340 $(21,873,614) Distributions to holders of redeemable units Net investment income (3,325,289) (2,497,890) Total distributions to holders of redeemable units (3,325,289) (2,497,890) Redeemable unit transactions Proceeds from issuance of redeemable units 11,401,260 7,635,750 Payment for redeemable units redeemed (3,054,880) (34,589,510) Net redeemable unit transactions 8,346,380 (26,953,760) Net assets attributable to holders of redeemable units, end of period $171,298,693 $168,798,546

Statement of Cash Flows For the six months ended June 30, 2021, and June 30, 2020 (unaudited)

2021 2020 Cash flows from (used in) operating activities Increase (decrease) in net assets attributable to holders of redeemable units $13,173,340 $(21,873,614) Adjustments for: Net realized (gain) loss on sale of investments (868,099) 4,505,254 Change in unrealized appreciation/depreciation of investments (9,367,986) 20,013,666 Change in unrealized appreciation/depreciation of derivatives 53,324 (47,957) Change in unrealized appreciation/depreciation of foreign currency translations 55,352 (60,067) Purchase of investments (16,659,586) (10,813,359) Proceeds from sale of investments 6,371,102 33,684,977 Change in working capital 421,249 (171,262) Net cash from (used in) operating activities (6,821,304) 25,237,638 Cash flows from (used in) financing activities Proceeds from issuance of redeemable units 11,401,260 7,635,750 Distributions to holders of redeemable units, net of reinvested distributions (2,124,027) (1,200,300) Payment for redeemable units redeemed (3,054,880) (31,922,860) Net cash from (used in) financing activities 6,222,353 (25,487,410) Change in unrealized appreciation/depreciation of foreign currency translations (55,352) 60,067 Net increase (decrease) in cash during the period $(654,303) $(189,705) Cash, beginning of period $1,036,787 $1,266,014 Cash, end of period $382,484 $1,076,309 Supplemental cash flow information relating to operating activities Dividends received, net of foreign withholding taxes, if applicable $3,228,657 $2,764,750 Interest received, net of foreign withholding taxes, if applicable $1,397 $1,540 Interest paid $1,188 $861

The accompanying notes are an integral part of the financial statements.

201 Vanguard FTSE Developed Europe All Cap Index ETF

Schedule of Investment Portfolio As at June 30, 2021 (unaudited)

Description Number of Shares Cost ($) Fair Value ($) % of Net Assets Equities Basic Materials Rio Tinto plc 12,007 741,945 1,221,911 0.7 BASF SE 10,106 1,090,331 986,014 0.6 Air Liquide SA Loyalty Bonus 4,310 534,695 934,575 0.6 BHP Group plc 22,974 555,617 837,100 0.5 Glencore plc 133,187 609,826 705,039 0.4 Anglo American plc ADR 13,624 363,093 669,462 0.4 Givaudan SA 102 323,281 587,978 0.4 Akzo Nobel NV 2,074 247,813 317,359 0.2 ArcelorMittal SA 7,737 207,883 293,702 0.2 UPM-Kymmene Oyj 5,853 207,434 274,185 0.2 Symrise AG Class A 1,385 143,981 238,980 0.1 Brenntag SE 1,709 128,723 196,808 0.1 Croda International plc 1,491 115,170 187,927 0.1 Air Liquide SA 804 129,616 174,338 0.1 Umicore SA 2,236 115,059 169,104 0.1 Covestro AG 2,006 168,481 160,429 0.1 Boliden AB 3,018 108,290 143,769 0.1 Stora Enso Oyj Class R 6,297 112,239 142,267 0.1 SKF AB Class B 4,376 112,421 138,065 0.1 Svenska Cellulosa AB SCA Class B 6,648 167,636 135,003 0.1 Solvay SA Class A 804 125,161 126,568 0.1 IMCD NV 624 54,692 122,882 0.1 Yara International ASA 1,873 103,661 122,150 0.1 Norsk Hydro ASA 14,666 96,572 115,948 0.1 Arkema SA 746 95,432 115,904 0.1 Johnson Matthey plc 2,074 106,358 109,027 0.1 Polymetal International plc 3,945 64,475 104,906 0.1 EMS-Chemie Holding AG 76 59,409 92,548 0.1 KGHM Polska Miedz SA 1,515 51,136 92,471 0.1 Evonik Industries AG 2,222 89,675 92,278 0.1 Antofagasta plc 3,733 52,197 91,669 0.1 Lanxess AG 913 75,467 77,522 0.1 Evraz plc 6,324 34,656 64,043 0.0 Voestalpine AG 1,254 63,973 63,237 0.0 Clariant AG 2,419 64,373 59,627 0.0 Holmen AB Class B 1,044 32,576 58,395 0.0 Fuchs Petrolub SE Pfd. 832 53,487 50,118 0.0 BillerudKorsnas AB 2,021 39,184 49,703 0.0 Aurubis AG 396 34,012 45,452 0.0 Victrex plc 1,031 38,113 44,903 0.0 Hexpol AB 2,659 34,398 40,695 0.0 SSAB AB Class B 6,203 23,521 33,618 0.0 K+S AG 1,958 55,685 33,009 0.0 APERAM SA 502 25,596 31,854 0.0 Bodycote plc 2,184 26,701 31,626 0.0 Borregaard ASA 1,155 16,226 31,247 0.0 OCI NV 1,035 28,200 31,188 0.0 Wacker Chemie AG 153 20,258 29,220 0.0 Acerinox SA 1,939 30,406 29,001 0.0 Synthomer plc 3,349 23,636 28,164 0.0 Hill & Smith Holdings plc 1,074 25,131 27,448 0.0 Imerys SA 464 38,025 26,847 0.0 Fresnillo plc 2,015 38,453 26,597 0.0 Metsa Board Oyj 2,064 19,447 26,294 0.0 Outokumpu Oyj Class A 3,240 29,921 24,037 0.0 Ferrexpo plc 3,282 12,667 24,018 0.0 RHI Magnesita NV 333 21,520 23,169 0.0 Bekaert SA 412 19,242 22,737 0.0 Lenzing AG 145 22,655 21,975 0.0 Kemira Oyj 1,080 18,716 21,062 0.0 SSAB AB Class A 3,334 21,062 20,217 0.0 Centamin plc 11,419 25,217 19,768 0.0 Troax Group AB 434 16,760 17,564 0.0 Elementis plc 6,372 23,203 16,427 0.0 Petropavlovsk plc 34,319 21,580 13,890 0.0 Salzgitter AG 353 15,401 12,991 0.0

202 Vanguard FTSE Developed Europe All Cap Index ETF

Description Number of Shares Cost ($) Fair Value ($) % of Net Assets Tessenderlo Group SA 235 12,217 12,285 0.0 Kloeckner & Co. SE 717 7,933 12,151 0.0 Elkem ASA 2,603 14,928 11,732 0.0 Fuchs Petrolub SE 231 12,372 11,110 0.0 Robertet SA 7 9,246 10,691 0.0 Navigator Co. SA 2,334 8,812 9,878 0.0 Hochschild Mining plc 3,617 11,974 9,491 0.0 Svenska Cellulosa AB SCA Class A 440 8,874 8,983 0.0 Eramet 107 9,521 8,650 0.0 Vallourec SA 707 31,017 7,932 0.0 SOL SPA 317 8,060 7,923 0.0 SGL Carbon SE 659 6,615 7,829 0.0 Ence Energia y Celulosa SA 1,507 7,908 7,582 0.0 Grupa Azoty SA 605 6,705 6,494 0.0 Ciech SA 373 6,006 5,884 0.0 Jacquet Metals SACA 199 5,849 5,698 0.0 Altri SGPS SA 566 5,052 4,355 0.0 8,344,859 11,026,697 6.4 Consumer Discretionary LVMH Moet Hennessy Louis Vuitton SE 2,753 1,165,517 2,673,492 1.6 L'Oréal SA Loyalty Bonus 2,198 544,848 1,212,994 0.7 Daimler AG 9,288 851,853 1,027,049 0.6 adidas AG 2,115 604,565 974,935 0.6 Kering SA 811 448,106 877,733 0.5 Cie Financiere Richemont SA Series A 5,651 585,377 847,498 0.5 RELX plc 20,496 580,818 672,830 0.4 Volkswagen AG Pfd. 2,026 423,850 628,359 0.4 Hermes International 339 271,318 611,574 0.4 Stellantis NV 22,371 380,302 543,618 0.4 Compass Group plc 19,841 519,379 516,582 0.3 Industria de Diseno Textil SA 11,649 520,165 508,236 0.3 Bayerische Motoren Werke AG 3,466 403,208 454,572 0.3 Flutter Entertainment plc 1,839 360,477 413,527 0.3 Cie Generale des Etablissements Michelin SCA 1,923 305,058 379,818 0.2 Zalando SE 2,417 206,786 361,858 0.2 Wolters Kluwer NV 2,869 206,931 356,936 0.2 Evolution AB 1,769 100,526 346,405 0.2 Ferrari NV 1,341 190,377 342,651 0.2 Vivendi SE 8,212 270,013 341,641 0.2 Delivery Hero SE 2,082 214,262 340,596 0.2 H & M Hennes & Mauritz AB Class B 9,735 312,532 286,143 0.2 Henkel AG & Co. KGaA Pfd. 1,991 304,551 260,334 0.2 L'Oréal SA 459 168,761 253,305 0.2 Porsche Automobil Holding SE Pfd. 1,693 143,733 224,650 0.1 Continental AG 1,211 298,575 220,480 0.1 WPP plc 12,967 300,881 216,097 0.1 Moncler SPA 2,432 114,821 203,784 0.1 Publicis Groupe SA 2,477 198,871 196,205 0.1 Entain plc 6,412 95,484 191,458 0.1 Next plc 1,420 143,683 190,832 0.1 Persimmon plc 3,491 142,064 176,648 0.1 Pandora A/S 1,057 119,224 175,964 0.1 InterContinental Hotels Group plc 2,025 152,189 166,622 0.1 Puma SE 1,095 90,599 161,685 0.1 Burberry Group plc 4,414 135,762 156,000 0.1 Swatch Group AG (Bearer) 348 157,177 147,971 0.1 Kingfisher plc 23,543 127,239 146,798 0.1 Informa plc 17,107 193,511 146,789 0.1 Volkswagen AG 351 97,908 142,675 0.1 Barratt Developments plc 11,190 117,324 133,076 0.1 Henkel AG & Co. KGaA 1,043 138,280 118,932 0.1 Whitbread plc 2,223 123,750 118,723 0.1 Pearson plc 8,323 114,058 118,173 0.1 Taylor Wimpey plc 40,057 119,896 108,918 0.1 Sodexo SA Loyalty Bonus 926 136,259 107,019 0.0 Renault SA 2,033 211,088 101,759 0.1 Accor SA 2,145 127,788 99,191 0.1 Berkeley Group Holdings plc 1,250 77,816 98,255 0.1 Valeo SA 2,610 178,060 97,238 0.1 B&M European Value Retail SA 9,910 63,932 97,172 0.1 Allegro.eu SA 4,336 115,200 92,548 0.1 Ubisoft Entertainment SA 1,019 81,339 88,348 0.1 Howden Joinery Group plc 6,305 58,940 88,076 0.1

203 Vanguard FTSE Developed Europe All Cap Index ETF

Description Number of Shares Cost ($) Fair Value ($) % of Net Assets ITV plc 40,751 122,812 87,522 0.1 JD Sports Fashion plc 5,515 48,544 86,701 0.1 Electrolux AB Series B 2,485 88,079 85,384 0.1 Faurecia SE 1,357 90,086 82,407 0.1 Bayerische Motoren Werke AG Pfd. 725 71,573 80,701 0.1 Bellway plc 1,348 69,272 74,713 0.1 Nokian Renkaat Oyj 1,489 65,896 74,454 0.1 Travis Perkins plc 2,499 74,322 72,203 0.1 Dometic Group AB 3,412 41,471 72,006 0.1 Husqvarna AB Class B 4,307 47,342 70,906 0.1 La Francaise des Jeux SAEM 950 43,360 69,168 0.1 Games Workshop Group plc 354 24,389 69,035 0.1 Adevinta ASA Class B 2,820 42,007 66,957 0.1 Thule Group AB 1,170 27,122 64,274 0.1 Future plc 1,183 27,369 63,382 0.1 Rubis SCA 1,033 74,349 56,871 0.0 Marks & Spencer Group plc 21,479 113,393 53,810 0.0 LPP SA 12 35,408 50,235 0.0 Vistry Group plc 2,473 44,322 49,771 0.0 CTS Eventim AG & Co. KGaA 641 37,624 49,607 0.0 Nordic Entertainment Group AB Class B 908 38,410 49,565 0.0 TUI AG 7,839 72,001 49,549 0.0 Countryside Properties plc 5,803 35,769 46,915 0.0 Deutsche Lufthansa AG 3,171 77,703 44,191 0.0 ProSiebenSat.1 Media SE 1,776 74,077 43,750 0.0 Hella GmbH & Co. KGaA 511 32,759 43,343 0.0 Dufry AG 570 78,379 41,845 0.0 Pets at Home Group plc 5,213 18,061 40,664 0.0 Pirelli & C. SPA 5,597 50,131 40,241 0.0 CD Projekt SA 668 47,521 40,201 0.0 Hugo Boss AG 589 52,669 39,684 0.0 Auto1 Group SE 724 40,031 39,391 0.0 International Consolidated Airlines Group SA 13,130 38,264 39,131 0.0 Carnival plc 1,363 99,165 38,723 0.0 Lagardere SCA 1,246 41,165 38,132 0.0 Watches of Switzerland Group plc 2,665 23,223 38,112 0.0 easyJet plc 2,463 58,765 37,701 0.0 SSP Group plc 8,160 50,963 37,187 0.0 De' Longhi SPA 684 25,552 36,904 0.0 WH Smith plc 1,332 42,133 36,651 0.0 Domino's Pizza Group plc 5,503 30,616 36,582 0.0 Wizz Air Holdings plc 446 23,441 35,622 0.0 D'ieteren Group 235 14,442 35,200 0.0 Dr. Martens plc 4,216 30,611 32,094 0.0 RTL Group SA 421 36,526 31,067 0.0 Swatch Group AG 378 29,803 30,915 0.0 Dunelm Group plc 1,221 18,919 29,639 0.0 Brunello Cucinelli SPA 389 12,570 28,174 0.0 zooplus AG 69 14,775 27,682 0.0 Sixt SE 162 18,873 27,025 0.0 Redrow plc 2,572 25,183 26,918 0.0 National Express Group plc 5,826 35,377 26,570 0.0 Gamesys Group plc 840 16,672 26,497 0.0 Stroeer SE & Co. KGaA 262 22,851 25,990 0.0 BHG Group AB 1,066 23,452 25,545 0.0 Dixons Carphone plc 11,443 48,245 25,487 0.0 Playtech plc 3,493 45,745 25,407 0.0 JCDecaux SA 732 31,577 25,132 0.0 Trainline plc 4,945 42,001 24,836 0.0 Basic-Fit NV 458 10,716 24,253 0.0 Aston Martin Lagonda Global Holdings plc 754 34,439 24,217 0.0 IPSOS 462 17,763 24,119 0.0 Fielmann AG 249 25,167 24,115 0.0 Forbo Holding AG 10 17,972 23,471 0.0 Cie Plastic Omnium SA 601 26,104 23,247 0.0 MIPS AB 215 19,242 22,912 0.0 Trigano SA 88 11,654 22,512 0.0 CIE Automotive SA 613 18,766 22,469 0.0 Brembo SPA 1,418 23,542 22,239 0.0 Air France-KLM 3,588 40,304 21,445 0.0 Bilia AB Class A 814 10,797 21,368 0.0 Salvatore Ferragamo SPA 761 19,989 20,166 0.0 Technogym SPA 1,250 17,046 19,751 0.0 888 Holdings plc 3,007 9,759 19,742 0.0

204 Vanguard FTSE Developed Europe All Cap Index ETF

Description Number of Shares Cost ($) Fair Value ($) % of Net Assets Global Fashion Group SA 1,050 19,059 19,690 0.0 TI Fluid Systems plc 3,713 14,240 19,500 0.0 Sanoma Oyj 934 12,025 19,175 0.0 Autogrill SPA 2,092 18,252 18,986 0.0 Metropole Television SA 726 16,861 18,913 0.0 Frasers Group plc 1,827 12,313 18,830 0.0 Accell Group NV 280 10,634 18,626 0.0 Crest Nicholson Holdings plc 2,539 22,858 18,216 0.0 Boozt AB 663 18,035 18,048 0.0 J.D. Wetherspoon plc 884 14,630 17,814 0.0 Firstgroup plc 12,361 22,790 17,318 0.0 Granges AB 998 18,144 17,182 0.0 Halfords Group plc 2,270 15,596 16,744 0.0 Interparfums SA 202 11,169 16,256 0.0 ALD SA 870 17,642 16,149 0.0 Restaurant Group plc 7,331 28,808 16,077 0.0 Modern Times Group MTG AB Class B 950 33,732 15,943 0.0 Mitchells & Butlers plc 3,296 16,936 15,708 0.0 Sixt SE Pfd. 157 10,799 15,678 0.0 Television Francaise 1 1,229 20,380 15,386 0.0 Cineworld Group plc 11,022 54,651 14,601 0.0 Betsson AB Class B 1,440 21,286 14,554 0.0 Mediaset SPA 3,042 13,413 13,598 0.0 AO World plc 3,110 7,868 13,460 0.0 Maisons du Monde SA 432 18,332 13,259 0.0 Cairn Homes plc 8,460 17,820 13,243 0.0 Bonava AB Class B 960 15,704 13,087 0.0 Hornbach Holding AG & Co. KGaA 90 8,135 12,701 0.0 Gestamp Automocion SA 1,888 17,630 12,382 0.0 Fnac Darty SA 153 16,000 12,189 0.0 Dalata Hotel Group plc 2,112 19,431 11,894 0.0 Nobia AB 1,121 9,332 11,849 0.0 Wickes Group plc 2,801 12,050 11,787 0.0 Moonpig Group plc 1,546 12,059 11,340 0.0 SAS AB 37,264 8,946 11,331 0.0 Mekonomen AB Series B 533 14,797 10,913 0.0 Schaeffler AG Pfd. 954 11,730 10,899 0.0 CCC SA 294 18,963 10,744 0.0 Melia Hotels International SA 1,126 18,993 10,318 0.0 Mediaset Espana Comunicacion SA 1,314 16,581 10,208 0.0 Elior Group SA 1,075 15,253 9,945 0.0 Piaggio & C. SPA 2,020 8,382 9,836 0.0 Marston's plc 6,426 12,236 9,668 0.0 Ceconomy AG 1,579 46,775 9,544 0.0 SkiStar AB 460 5,703 9,498 0.0 Go-Ahead Group plc 455 16,881 8,702 0.0 DO & CO AG 75 7,934 8,381 0.0 Autoneum Holding AG 36 12,404 8,329 0.0 Zeal Network SE 1 2 4 7, 2 9 9 7, 6 3 0 0. 0 Juventus Football Club SPA 6,815 4,416 7,226 0.0 Kinepolis Group NV 104 8,201 6,952 0.0 RAI Way SPA 927 7,054 6,915 0.0 AmRest Holdings SE 817 12,283 6,872 0.0 Scandic Hotels Group AB 1,411 18,692 6,830 0.0 Beneteau SA 343 7,211 6,719 0.0 ElringKlinger AG 284 7,086 6,260 0.0 Husqvarna AB Class A 365 6,247 6,088 0.0 APG SGA SA 20 6,424 6,082 0.0 Hornbach Baumarkt AG 110 6,899 5,985 0.0 Atresmedia Corp. de Medios de Comunicacion SA 1,061 15,818 5,752 0.0 Finnair Oyj 5,615 4,252 5,736 0.0 Tod's SPA 67 5,286 5,638 0.0 Promotora de Informaciones SA Class A 4,926 14,530 5,570 0.0 Sodexo SA 48 5,541 5,547 0.0 Stagecoach Group plc 3,946 11,853 5,542 0.0 Rank Group plc 1,654 6,442 4,748 0.0 AKWEL 109 5,538 3,938 0.0 Clas Ohlson AB Class B 308 6,972 3,936 0.0 Arnoldo Mondadori Editore SPA 1,423 2,917 3,360 0.0 Rizzoli Corriere Della Sera Mediagroup SPA 2,702 3,799 2,809 0.0 B&S Group Sarl 167 1,934 2,124 0.0 18,116,337 23,445,925 13.7

205 Vanguard FTSE Developed Europe All Cap Index ETF

Description Number of Shares Cost ($) Fair Value ($) % of Net Assets Consumer Staples Nestlé SA 31,087 3,611,539 4,798,396 2.8 Unilever plc 28,807 2,031,179 2,084,735 1.2 Diageo plc 25,380 1,129,812 1,502,638 0.9 British American Tobacco plc 25,210 1,741,211 1,207,513 0.7 Anheuser-Busch InBev SA 9,264 1,192,751 827,271 0.5 Reckitt Benckiser Group plc 7,005 811,085 766,559 0.5 Pernod Ricard SA 2,309 452,664 634,752 0.4 Danone SA 6,638 658,520 578,733 0.3 Koninklijke DSM NV 1,841 222,545 425,532 0.3 Koninklijke Ahold Delhaize NV 10,903 332,245 401,397 0.2 Heineken NV 2,620 338,473 393,212 0.2 Tesco plc 83,974 385,330 320,268 0.2 Kerry Group plc Class A 1,693 227,482 292,871 0.2 Imperial Brands plc 10,444 521,095 278,174 0.2 Chocoladefabriken Lindt & Spruengli AG 13 200,292 277,789 0.2 Essity AB Class B 6,722 252,819 276,224 0.2 Carlsberg A/S Class B 1,105 171,574 255,092 0.2 HelloFresh SE 1,619 41,824 194,908 0.1 Swedish Match AB 17,433 95,544 184,216 0.1 Ocado Group plc 5,363 78,763 183,760 0.1 Beiersdorf AG 1,105 151,470 165,109 0.1 Carrefour SA 6,410 182,761 156,116 0.1 Mowi ASA 4,862 124,043 153,223 0.1 Associated British Foods plc 3,965 189,551 150,305 0.1 Heineken Holding NV 1,160 136,968 144,709 0.1 Kesko Oyj Class B 3,080 63,429 140,891 0.1 Barry Callebaut AG 41 97,273 118,090 0.1 Orkla ASA 8,832 106,226 111,461 0.1 WM Morrison Supermarkets plc 23,762 91,622 100,280 0.1 Coca-Cola HBC AG 2,123 79,071 94,933 0.1 Davide Campari-Milano NV 5,369 66,157 89,054 0.1 Royal Unibrew A/S 545 46,610 85,972 0.1 J Sainsbury plc 17,772 77,753 82,632 0.1 SEB SA Loyalty Bonus 356 55,507 79,673 0.1 Remy Cointreau SA 297 47,539 75,933 0.1 THG plc 6,796 76,863 70,916 0.1 Jeronimo Martins SGPS SA 2,899 65,156 65,475 0.0 Tate & Lyle plc 5,002 59,082 63,182 0.0 Bakkafrost P/F 565 35,155 57,807 0.0 AAK AB 1,895 34,572 52,627 0.0 Greggs plc 1,136 30,070 50,429 0.0 Salmar ASA 577 23,245 47,427 0.0 Dino Polska SA 518 19,280 47,160 0.0 ICA Gruppen AB 815 39,929 47,002 0.0 Britvic plc 2,915 39,644 46,724 0.0 Galenica AG 523 34,465 45,751 0.0 Corbion NV 634 26,456 44,876 0.0 Glanbia plc 2,154 47,813 43,304 0.0 JDE Peet's NV 881 48,447 39,589 0.0 Zur Rose Group AG 82 27,842 38,942 0.0 Axfood AB Series B 1,112 27,248 38,111 0.0 Cranswick plc 558 26,340 37,895 0.0 Colruyt SA 543 40,584 37,605 0.0 Viscofan SA 421 32,698 36,352 0.0 Leroy Seafood Group ASA 2,904 20,585 31,542 0.0 Emmi AG 21 18,692 26,698 0.0 Casino Guichard Perrachon SA 663 41,699 26,044 0.0 METRO AG 1,586 40,531 24,315 0.0 Societe BIC SA 268 34,266 23,063 0.0 Ebro Foods SA 762 21,699 19,829 0.0 Aryzta AG 10,350 53,472 17,498 0.0 Shop Apotheke Europe NV 74 16,850 17,213 0.0 Sonae SGPS SA 13,399 19,488 15,741 0.0 Suedzucker AG 793 19,051 15,721 0.0 C&C Group plc 3,703 16,737 15,393 0.0 Austevoll Seafood ASA 973 12,430 14,954 0.0 Hilton Food Group plc 767 14,882 14,354 0.0 KWS Saat SE & Co. KGaA 140 12,980 14,268 0.0 Scandinavian Tobacco Group A/S Class A 562 12,944 14,206 0.0 MARR SPA 380 11,684 11,216 0.0 Kernel Holding SA 613 10,768 10,907 0.0 Ontex Group NV 704 23,742 10,855 0.0 Greencore Group plc 5,029 21,488 10,805 0.0

206 Vanguard FTSE Developed Europe All Cap Index ETF

Description Number of Shares Cost ($) Fair Value ($) % of Net Assets Sligro Food Group NV 291 16,313 10,577 0.0 Grieg Seafood ASA 710 9,826 9,062 0.0 Bell Food Group AG 22 9,736 8,355 0.0 Valora Holding AG 32 12,132 8,342 0.0 Cloetta AB Class B 2,213 8,959 8,184 0.0 Devro plc 2,343 7,845 7,728 0.0 PZ Cussons plc 1,718 9,315 7,186 0.0 Raisio Oyj Class V 1,130 6,320 6,248 0.0 Bakkavor Group plc 2,538 8,243 5,609 0.0 ForFarmers NV 744 12,198 5,441 0.0 A.G. Barr plc 559 7,129 4,953 0.0 Norway Royal Salmon ASA 175 4,685 4,341 0.0 Eurocash SA 935 6,340 4,322 0.0 Vilmorin & Cie SA 34 3,275 2,796 0.0 Bonduelle SCA 80 3,686 2,485 0.0 Distribuidora Internacional de Alimentacion SA 11,202 1,839 1,117 0.0 17,299,445 18,974,963 11.1 Energy TotalEnergies SE 26,895 1,791,845 1,506,944 0.9 BP plc 220,062 1,696,818 1,185,814 0.7 Royal Dutch Shell plc Class A 45,151 1,632,051 1,117,473 0.7 Royal Dutch Shell plc Class B 41,133 1,395,052 984,395 0.6 Vestas Wind Systems A/S 11,176 267,734 540,279 0.3 Eni SPA 27,967 553,429 421,784 0.3 Neste Oyj 4,618 145,259 350,199 0.2 Equinor ASA 10,701 260,252 280,537 0.2 Repsol SA 14,738 273,802 228,418 0.1 Snam SPA 24,116 159,116 172,645 0.1 Siemens Energy AG 4,271 148,980 159,433 0.1 OMV AG 1,639 103,045 115,458 0.1 Siemens Gamesa Renewable Energy SA 2,419 57,590 100,033 0.1 Lundin Petroleum AB 2,042 63,452 89,529 0.1 Polski Koncern Naftowy Orlen SA 3,358 115,749 83,863 0.1 Enagas SA 2,667 94,907 76,313 0.1 Galp Energia SGPS SA Class B 5,488 106,514 73,757 0.1 Tenaris SA 5,214 89,835 70,381 0.0 TechnipFMC plc 5,017 186,502 55,728 0.0 Aker BP ASA 1,139 30,524 44,975 0.0 NEL ASA 14,538 18,064 42,008 0.0 Polskie Gornictwo Naftowe i Gazownictwo SA 19,119 39,008 41,492 0.0 Scatec ASA 1,245 23,691 40,848 0.0 Subsea 7 SA 2,913 42,074 34,650 0.0 SBM Offshore NV 1,622 34,606 30,524 0.0 Gaztransport Et Technigaz SA 297 24,661 29,701 0.0 John Wood Group plc 6,512 59,518 24,474 0.0 Nordex SE 762 17,340 22,917 0.0 Technip Energies NV 1,193 21,620 20,252 0.0 Saipem SPA 6,317 36,252 18,933 0.0 TGS ASA 1,088 31,444 17,183 0.0 Grupa Lotos SA 950 23,050 16,594 0.0 Tullow Oil plc 15,825 56,557 16,096 0.0 Maersk Drilling A/S 300 13,927 15,522 0.0 Cairn Energy plc 5,575 21,520 13,895 0.0 Energean plc 1,098 6,579 13,411 0.0 VERBIO Vereinigte BioEnergie AG 177 8,578 11,104 0.0 DNO ASA 7,122 9,520 10,290 0.0 Saras SPA 7,249 19,291 7,505 0.0 Jastrzebska Spolka Weglowa SA 605 14,684 6,931 0.0 Schoeller-Bleckmann Oilfield Equipment AG 132 13,418 6,872 0.0 CGG SA 6,130 14,691 6,757 0.0 Tecnicas Reunidas SA 425 18,774 6,659 0.0 SMA Solar Technology AG 91 5,587 6,465 0.0 Hunting plc 1,657 14,341 6,250 0.0 Petrofac Ltd. 3,130 33,779 5,900 0.0 BW Offshore Ltd. 1,118 10,665 4,952 0.0 CropEnergies AG 220 1,575 3,496 0.0 Etablissements Maurel et Prom SA 1,024 5,452 2,857 0.0 9,812,722 8,142,496 4.8 Financials HSBC Holdings plc 225,815 2,327,707 1,611,990 1.0 Allianz SE 4,533 1,218,978 1,399,907 0.8 BNP Paribas SA 11,960 942,122 928,570 0.6

207 Vanguard FTSE Developed Europe All Cap Index ETF

Description Number of Shares Cost ($) Fair Value ($) % of Net Assets Banco Santander SA 188,982 1,257,089 893,476 0.5 Zurich Insurance Group AG 1,643 660,341 817,024 0.5 ING Groep NV 43,198 765,193 706,680 0.4 UBS Group AG 36,482 716,997 692,040 0.4 Prudential plc 28,943 787,842 680,038 0.4 AXA SA 21,226 715,296 666,579 0.4 Intesa Sanpaolo SPA 183,882 657,268 629,037 0.4 Lloyds Banking Group plc 784,469 868,679 626,557 0.4 Investor AB Class B 20,242 311,099 578,124 0.4 Banco Bilbao Vizcaya Argentaria SA 73,487 655,748 564,183 0.3 Barclays plc 187,417 585,954 548,619 0.3 London Stock Exchange Group plc 4,012 345,976 546,991 0.3 Nordea Bank Abp 39,355 514,110 543,137 0.3 Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen 1,555 460,977 527,379 0.3 Partners Group Holding AG 249 264,516 467,500 0.3 Deutsche Boerse AG 2,027 314,806 438,163 0.3 Deutsche Bank AG 22,608 399,550 364,734 0.2 Swiss Re AG 3,216 390,102 359,657 0.2 Assicurazioni Generali SPA 14,128 317,078 350,728 0.2 UniCredit SPA 23,982 494,355 350,415 0.2 Credit Suisse Group AG 26,397 469,313 342,734 0.2 Sampo Oyj Class A 5,608 342,233 319,202 0.2 Societe Generale SA 8,523 419,056 311,149 0.2 DNB ASA 11,284 247,982 304,622 0.2 Aviva plc 43,191 340,115 299,898 0.2 Legal & General Group plc 65,909 290,807 290,437 0.2 KBC Group NV 3,031 276,409 286,201 0.2 Skandinaviska Enskilda Banken AB Class A 16,026 226,771 256,528 0.2 Swedbank AB Class A 11,082 291,522 255,518 0.2 Svenska Handelsbanken AB Class A 16,037 263,726 224,218 0.1 Credit Agricole SA 12,851 226,466 222,950 0.1 Standard Chartered plc 28,024 297,461 221,000 0.1 3i Group plc 10,540 151,015 211,495 0.1 Swiss Life Holding AG 349 165,953 210,204 0.1 Natwest Group plc 57,384 228,665 199,469 0.1 Julius Baer Group Ltd. 2,407 157,767 194,697 0.1 NN Group NV 3,224 158,619 188,336 0.1 CaixaBank SA 48,650 228,510 185,322 0.1 Groupe Bruxelles Lambert SA 1,159 140,068 160,566 0.1 Investor AB Class A 5,652 95,280 159,870 0.1 Danske Bank A/S 7,249 252,468 157,969 0.1 St. James's Place plc 6,068 112,439 153,316 0.1 FinecoBank Banca Fineco SPA 6,956 93,377 150,159 0.1 Erste Group Bank AG 3,214 149,648 146,029 0.1 Ageas 1,983 121,052 136,283 0.1 Hannover Rueck SE 656 114,952 135,927 0.1 Kinnevik AB Class B 2,682 103,012 133,044 0.1 Admiral Group plc 2,310 86,823 124,238 0.1 Mediobanca Banca di Credito Finanziario SPA 8,387 110,603 121,316 0.1 Powszechna Kasa Oszczednosci Bank Polski SA 9,813 135,583 120,748 0.1 Euronext NV 888 69,127 119,579 0.1 M&G plc 29,841 110,559 116,848 0.1 Hargreaves Lansdown plc 4,143 112,505 112,616 0.1 EQT AB 2,500 47,713 112,433 0.1 Intermediate Capital Group plc 3,081 55,584 111,946 0.1 EXOR NV 1,108 81,001 109,927 0.1 Standard Life Aberdeen plc 23,598 154,643 109,397 0.1 Aegon NV 20,314 138,322 104,379 0.1 Tr yg A/S 3,362 97,777 102,211 0.1 Industrivarden AB Class A 2,089 59,921 100,664 0.1 Industrivarden AB Class C 2,190 73,345 99,315 0.1 Commerzbank AG 11,259 141,158 98,906 0.1 Baloise Holding AG 488 97,341 94,336 0.1 Sofina SA 165 39,649 88,150 0.1 Poste Italiane SPA 4,998 56,749 81,836 0.1 Phoenix Group Holdings plc 7,011 75,494 81,123 0.1 Powszechny Zaklad Ubezpieczen SA 6,091 80,860 72,711 0.1 Schroders plc 1,205 63,457 72,415 0.1 ASR Nederland NV 1,498 70,963 71,692 0.1 Direct Line Insurance Group plc 14,549 91,473 70,932 0.1 Bank of Ireland Group plc 10,242 91,576 67,937 0.1 ABN AMRO Bank NV CVA 4,529 136,683 67,785 0.1 SCOR SE 1,698 86,585 66,876 0.1

208 Vanguard FTSE Developed Europe All Cap Index ETF

Description Number of Shares Cost ($) Fair Value ($) % of Net Assets Amundi SA 612 53,998 66,820 0.1 Investment AB Latour Class B 1,617 32,554 65,744 0.1 Banco BPM SPA 16,378 59,708 65,251 0.1 IG Group Holdings plc 4,061 47,246 58,841 0.1 Storebrand ASA Class A 4,859 39,701 54,539 0.0 Ackermans & van Haaren NV 255 51,361 53,324 0.0 Avanza Bank Holding AB 1,328 14,978 51,321 0.0 Banco de Sabadell SA ADR 60,528 129,231 51,038 0.0 Gjensidige Forsikring ASA 1,854 42,700 50,637 0.0 Bank Polska Kasa Opieki SA 1,645 61,880 49,761 0.0 HomeServe plc 3,040 40,349 49,690 0.0 Hiscox Ltd. 3,491 69,568 49,662 0.0 Wendel SA 294 52,705 48,959 0.0 Helvetia Holding AG 366 56,232 48,786 0.0 Quilter plc 18,721 49,590 47,637 0.0 Bankinter SA 7,553 81,316 47,017 0.0 Man Group plc 15,148 37,232 46,630 0.0 Cembra Money Bank AG 330 36,470 45,844 0.0 Virgin Money UK plc 12,889 49,620 43,777 0.0 BAWAG Group AG 619 35,181 40,796 0.0 Close Brothers Group plc 1,563 39,629 40,507 0.0 Azimut Holding SPA 1,322 32,424 39,759 0.0 Banca Mediolanum SPA 3,267 34,753 39,359 0.0 Nordnet AB (publ) 1,782 40,309 37,271 0.0 CNP Assurances 1,766 42,273 37,215 0.0 Beazley plc 6,542 52,899 37,199 0.0 Raiffeisen International Bank-Holding AG 1,308 41,601 36,687 0.0 Ringkjoebing Landbobank A/S 291 24,725 36,549 0.0 Investec plc 7,379 65,584 36,392 0.0 Jyske Bank A/S 602 35,850 36,069 0.0 Banque Cantonale Vaudoise 321 31,438 35,735 0.0 Unipol Gruppo SPA 5,288 31,209 35,659 0.0 John Laing Group plc 5,153 27,121 35,242 0.0 Intrum AB 867 35,660 35,163 0.0 Ashmore Group plc 5,266 33,039 34,682 0.0 SpareBank 1 SR-Bank ASA 2,116 24,437 34,621 0.0 BPER Banca 12,786 45,482 34,464 0.0 Bure Equity AB 624 11,588 33,412 0.0 Eurazeo SE Loyalty Bonus 308 28,069 33,244 0.0 Banca Generali SPA 602 25,367 31,808 0.0 Topdanmark A/S 470 22,119 30,295 0.0 OSB Group plc 3,749 25,679 29,757 0.0 BFF Bank SPA 2,385 25,147 29,595 0.0 AIB Group plc 9,145 59,348 29,182 0.0 Vontobel Holding AG 300 23,636 28,977 0.0 TP ICAP Group plc 8,475 47,293 28,329 0.0 Santander Bank Polska SA 336 42,579 27,803 0.0 Sanne Group plc 1,941 25,031 27,625 0.0 Lancashire Holdings Ltd. 2,627 31,533 27,525 0.0 Plus500 Ltd. 1,172 16,684 26,765 0.0 SpareBank 1 SMN 1,550 18,617 26,587 0.0 Sydbank A/S 694 28,182 26,464 0.0 Talanx AG 521 23,825 26,380 0.0 Hypoport AG 41 14,452 26,251 0.0 Paragon Banking Group plc 2,925 22,064 25,494 0.0 Mapfre SA 9,738 36,900 25,490 0.0 Banca Popolare di Sondrio SCPA 4,681 23,310 25,145 0.0 Grupo Catalana Occidente, SA 521 27,408 24,904 0.0 Valiant Holding AG 201 28,626 24,692 0.0 Intertrust NV 1,070 24,309 23,852 0.0 Aker ASA Class A 258 13,686 23,575 0.0 IntegraFin Holdings plc 2,672 16,676 23,540 0.0 Jupiter Fund Management plc 4,678 36,058 22,567 0.0 Norwegian Finans Holding ASA 1,563 21,378 21,806 0.0 IP Group plc 10,896 23,714 21,696 0.0 AJ Bell plc 2,850 18,827 21,149 0.0 Brewin Dolphin Holdings plc 3,533 20,633 21,002 0.0 Banco Comercial Portugues SA Class R 100,357 35,243 19,896 0.0 Aareal Bank AG 691 32,940 19,757 0.0 Gimv NV 249 17,941 19,745 0.0 Linea Directa Aseguradora SA Cia de Seguros y Reaseguros 7,553 18,591 19,599 0.0 Anima Holding SPA 3,162 23,849 19,460 0.0 Flow Traders 358 17,238 19,073 0.0

209 Vanguard FTSE Developed Europe All Cap Index ETF

Description Number of Shares Cost ($) Fair Value ($) % of Net Assets Deutsche Pfandbriefbank AG 1,554 26,887 19,028 0.0 Just Group plc 11,914 29,691 18,985 0.0 KBC Ancora 349 22,332 18,440 0.0 DWS Group GmbH & Co. KGaA 328 11,802 18,409 0.0 Sbanken ASA 1,129 13,033 17,416 0.0 Eurazeo SE 160 15,668 17,270 0.0 Ratos AB Class B 2,288 15,671 17,194 0.0 St. Galler Kantonalbank AG 31 17,964 17,068 0.0 UNIQA Insurance Group AG 1,576 17,602 16,987 0.0 VNV Global AB 1,199 17,056 16,554 0.0 Rathbone Brothers plc 529 22,053 16,397 0.0 UnipolSai Assicurazioni SPA 4,437 14,601 15,951 0.0 Ninety One plc 4,231 12,254 15,938 0.0 Grenke AG 288 31,099 15,648 0.0 mBank SA 145 21,519 15,328 0.0 Coface SA 997 11,688 14,963 0.0 Swissquote Group Holding SA 79 3,290 14,795 0.0 Spar Nord Bank A/S 1,050 14,784 14,639 0.0 Societa Cattolica di Assicurazione SPA 1,342 14,165 13,805 0.0 Tamburi Investment Partners SPA 1,086 9,485 13,189 0.0 Rothschild & Co. 270 13,428 12,985 0.0 Gruppo MutuiOnline SPA 218 13,480 12,869 0.0 VZ Holding AG 122 9,640 12,813 0.0 KRUK SA 152 9,820 12,420 0.0 Alior Bank SA 1,129 24,962 12,240 0.0 Tinexta SPA 2 3 6 7,74 1 11 , 3 74 0. 0 Vienna Insurance Group AG Wiener Versicherung Gruppe 332 11,315 11,287 0.0 Provident Financial plc 2,780 34,393 11,033 0.0 Bank of Georgia Group plc 466 27,120 10,714 0.0 Leonteq AG 142 15,375 10,520 0.0 Svenska Handelsbanken AB Class B 702 10,283 10,408 0.0 Bank Millennium SA 6,645 18,271 10,072 0.0 EFG International AG 959 9,778 9,751 0.0 Italmobiliare SPA 217 11,391 9,703 0.0 CMC Markets plc 1,138 5,188 8,955 0.0 Unicaja Banco SA 6,900 12,303 8,765 0.0 doValue SPA 634 9,658 8,640 0.0 Deutsche Beteiligungs AG 156 7,920 7,812 0.0 Banca IFIS SPA 396 18,682 7,792 0.0 Bank Handlowy w Warszawie SA 498 12,576 7,403 0.0 Liberbank SA 15,331 11,710 6,970 0.0 Sparebank 1 Oestlandet 395 6,810 6,764 0.0 Resurs Holding AB 1,104 9,228 6,759 0.0 TBC Bank Group plc 339 11,233 6,727 0.0 VP Bank AG 45 9,374 6,692 0.0 Peugeot Invest 38 5,311 6,328 0.0 GAM Holding AG 2,304 45,294 6,204 0.0 Warsaw Stock Exchange 375 6,030 5,811 0.0 Kinnevik AB Class A 102 7,631 5,724 0.0 Alm Brand A/S 614 6,941 5,505 0.0 Investment AB Oresund 246 5,121 5,293 0.0 Banca Monte dei Paschi di Siena SPA 2,913 10,654 4,937 0.0 Collector AB 914 15,089 4,828 0.0 DeA Capital SPA 2,197 4,657 4,201 0.0 Credito Emiliano SPA 561 4,725 4,160 0.0 Wuestenrot & Wuerttembergische AG 107 3,002 3,036 0.0 Union Financiere de France BQE SA 69 3,045 1,839 0.0 27,702,379 26,847,413 15.7 Health Care Roche Holding AG 7,945 2,813,178 3,722,012 2.2 Novartis AG 23,391 2,521,926 2,642,219 1.6 AstraZeneca plc 14,509 1,398,610 2,155,105 1.3 Novo Nordisk A/S Class B 17,847 1,237,424 1,851,721 1.1 Sanofi 12,008 1,403,934 1,558,119 0.9 GlaxoSmithKline plc 54,615 1,437,808 1,326,105 0.8 Bayer AG 10,879 1,392,856 818,122 0.5 EssilorLuxottica SA 3,253 567,597 743,497 0.4 Lonza Group AG 821 302,713 721,280 0.4 Koninklijke Philips NV 10,065 483,729 617,675 0.4 Alcon, Inc. 5,097 383,349 442,329 0.3 Merck KGaA 1,430 209,545 339,563 0.2 Genmab A/S 656 168,055 332,415 0.2 Coloplast A/S Class B 1,473 188,483 299,322 0.2

210 Vanguard FTSE Developed Europe All Cap Index ETF

Description Number of Shares Cost ($) Fair Value ($) % of Net Assets Fresenius SE & Co. KGaA 4,443 382,875 287,048 0.2 Sonova Holding AG 585 140,183 272,725 0.2 Smith & Nephew plc 9,722 238,630 259,858 0.2 Siemens Healthineers AG 3,053 188,487 231,699 0.1 Fresenius Medical Care AG & Co. KGaA 2,229 245,763 229,261 0.1 Straumann Holding AG 112 99,094 221,309 0.1 Argenx SE 560 130,601 209,784 0.1 Novozymes A/S Class B 2,233 141,207 208,446 0.1 Eurofins Scientific SE 1,340 88,554 189,695 0.1 Sartorius AG Pfd. 270 41,487 174,061 0.1 UCB SA 1,324 136,198 171,409 0.1 Sartorius Stedim Biotech 266 42,514 155,819 0.1 GN Store Nord AS 1,426 68,989 154,263 0.1 Qiagen NV 2,431 98,128 145,510 0.1 Grifols SA 3,797 131,577 127,354 0.1 Chr. Hansen Holding A/S 1,130 119,418 126,303 0.1 Getinge AB Class B 2,479 60,484 115,867 0.1 Carl Zeiss Meditec AG (Bearer) 404 42,565 96,674 0.1 Vifor Pharma AG 597 108,450 95,772 0.1 Amplifon SPA 1,486 38,535 90,866 0.1 Ambu A/S Class B 1,879 43,775 89,463 0.1 Evotec SE 1,585 38,741 88,983 0.1 Dechra Pharmaceuticals plc 1,159 41,332 86,642 0.1 Orpea SA 521 75,343 82,056 0.1 Demant A/S 1,171 37,990 81,630 0.1 Tecan Group AG 128 35,448 78,604 0.1 Hikma Pharmaceuticals plc 1,858 58,634 77,743 0.1 Recordati SPA 1,036 47,448 73,330 0.1 ConvaTec Group plc 17,541 73,700 72,196 0.0 Elekta AB Class B 3,920 53,111 70,381 0.0 BioMerieux 455 39,600 65,480 0.0 Orion Oyj Class B 1,165 62,368 62,017 0.0 Genus plc 724 31,084 61,430 0.0 DiaSorin SPA 239 25,182 55,980 0.0 Siegfried Holding AG 44 18,265 51,134 0.0 ALK-Abello A/S Class B 83 22,464 49,041 0.0 UDG Healthcare plc 2,650 34,003 48,460 0.0 Ipsen SA 367 49,144 47,276 0.0 Gerresheimer AG 343 36,709 46,970 0.0 Swedish Orphan Biovitrum AB 1,973 41,581 44,580 0.0 Galapagos NV 508 66,289 43,626 0.0 Bachem Holding AG Class B 58 11,840 42,579 0.0 Idorsia Ltd. 1,229 33,074 41,885 0.0 Vitrolife AB 719 16,031 37,020 0.0 Arjo AB Class B 2,842 19,606 36,295 0.0 Bavarian Nordic A/S 682 31,572 34,855 0.0 MorphoSys AG 362 38,177 34,777 0.0 Korian SA 635 25,588 29,038 0.0 CompuGroup Medical SE & Co. KGaA 278 21,748 26,964 0.0 Sectra AB Class B 269 12,004 25,804 0.0 GrandVision NV 603 22,547 24,971 0.0 H Lundbeck A/S 600 34,519 23,638 0.0 Revenio Group Oyj 236 19,271 22,146 0.0 Fagron 777 19,412 21,486 0.0 Indivior plc 8,057 40,068 21,308 0.0 Biotage AB 720 19,718 21,121 0.0 Virbac SA 49 11,084 20,795 0.0 Almirall SA 958 18,899 20,694 0.0 Mediclinic International plc 4,007 47,437 20,372 0.0 Laboratorios Farmaceuticos Rovi SA 236 17,655 20,239 0.0 Chemometec A/S 120 14,910 19,989 0.0 Medicover AB Class B 580 16,058 19,693 0.0 Zealand Pharma A/S 477 21,868 17,445 0.0 Vectura Group plc 7,071 14,437 16,499 0.0 Pharma Mar SA 139 8,795 15,485 0.0 Dermapharm Holding SE 156 8,216 15,406 0.0 CELLINK AB Class B 235 14,036 14,434 0.0 Faes Farma SA 2,880 12,405 14,236 0.0 STRATEC SE 80 13,683 13,839 0.0 Medacta Group SA 80 7,722 13,011 0.0 Terveystalo Oyj 723 12,393 12,104 0.0 PureTech Health plc 2,047 13,856 11,941 0.0 Spire Healthcare Group plc 2,549 11,602 10,727 0.0 COSMO Pharmaceuticals NV 88 18,657 10,056 0.0

211 Vanguard FTSE Developed Europe All Cap Index ETF

Description Number of Shares Cost ($) Fair Value ($) % of Net Assets Hansa Biopharma AB 456 15,109 9,904 0.0 Ypsomed Holding AG 50 9,229 9,659 0.0 Draegerwerk AG & Co. KGaA 75 8,190 8,635 0.0 Draegerwerk AG & Co. KGaA Pfd. 71 7,225 8,320 0.0 Camurus AB 253 7,792 7,839 0.0 Basilea Pharmaceutica AG 121 12,441 7,327 0.0 Karo Pharma AB 871 9,562 6,911 0.0 Attendo AB 1,211 15,972 6,867 0.0 Mithra Pharmaceuticals SA 189 8,908 6,592 0.0 Oncopeptides AB 394 8,960 5,326 0.0 Oriola Oyj Class B 1,749 4,742 4,731 0.0 Mercator Medical SA 42 4,982 3,577 0.0 Guerbet 63 6,936 2,757 0.0 NMC Health plc 1,869 65,699 0 0.0 18,819,792 23,329,526 13.6 Industrials Siemens AG 8,306 1,329,210 1,629,812 1.0 Schneider Electric SE 5,837 650,324 1,137,285 0.7 Airbus SE 6,154 786,753 979,989 0.6 Adyen NV 319 405,437 965,245 0.6 Deutsche Post AG 10,803 508,977 909,971 0.5 ABB, Ltd. 18,738 537,451 787,960 0.5 Vinci SA 5,456 659,293 721,012 0.4 Safran SA 3,862 566,542 663,094 0.4 Sika AG 1,564 274,144 633,799 0.4 DSV Panalpina A/S 2,171 248,336 627,012 0.4 CRH plc 8,639 379,496 540,443 0.3 Atlas Copco AB Class A 7,038 296,690 533,987 0.3 Volvo AB Class B 17,036 348,600 507,896 0.3 Experian plc 10,117 323,115 482,163 0.3 Ashtead Group plc 4,948 158,052 454,025 0.3 Kone Oyj Class B 4,318 301,058 436,260 0.3 Cie de Saint-Gobain 5,239 322,838 427,296 0.3 Ferguson plc 2,472 236,259 424,987 0.3 Holcim Ltd. 5,642 377,927 419,484 0.3 Legrand SA 2,950 266,888 386,681 0.2 Assa Abloy AB Class B 10,095 286,534 376,825 0.2 Sandvik AB 11,889 240,942 376,310 0.2 Geberit AG 388 232,989 360,729 0.2 Teleperformance 641 141,527 322,210 0.2 BAE Systems plc 35,601 341,457 317,902 0.2 Worldline SA 2,694 247,032 312,298 0.2 Atlas Copco AB Class B 4,074 182,964 265,451 0.2 SGS SA 65 206,350 248,517 0.2 Kuehne + Nagel International AG 548 115,196 232,424 0.2 AP Moller - Maersk A/S Class B 65 146,303 231,371 0.1 CNH Industrial NV 10,779 146,936 220,418 0.1 Alstom SA 3,224 177,450 201,640 0.1 Kingspan Group plc 1,692 93,535 197,882 0.1 Halma plc 4,197 108,747 193,275 0.1 Ferrovial SA 5,303 161,236 192,740 0.1 Edenred 2,719 117,552 191,857 0.1 Smurfit Kappa Group plc 2,841 122,291 190,899 0.1 Spirax-Sarco Engineering plc 801 91,524 186,557 0.1 Epiroc AB Class A 6,575 94,827 185,644 0.1 MTU Aero Engines AG 592 131,376 181,608 0.1 Rentokil Initial plc 21,117 116,021 178,813 0.1 HeidelbergCement AG 1,629 171,351 173,051 0.1 Mondi plc 5,318 156,913 172,938 0.1 Nibe Industrier AB Class B 13,178 53,309 171,767 0.1 Schindler Holding AG Ptg. Ctf. 452 125,508 171,362 0.1 Intertek Group plc 1,780 136,931 168,386 0.1 Aena SME SA 776 171,404 157,601 0.1 Bunzl plc 3,822 141,770 156,195 0.1 AP Moller - Maersk A/S Class A 45 79,114 154,804 0.1 Alfa Laval AB 3,449 98,213 150,967 0.1 Melrose Industries plc 54,893 188,368 145,643 0.1 Adecco Group AG 1,707 146,608 143,746 0.1 Rolls-Royce Holdings plc 82,562 297,244 139,709 0.1 Thales SA 1,085 144,283 137,089 0.1 Skanska AB Class B 3,987 112,973 131,046 0.1 Nexi SPA 4,804 97,120 130,582 0.1 Prysmian SPA 2,886 100,584 128,118 0.1

212 Vanguard FTSE Developed Europe All Cap Index ETF

Description Number of Shares Cost ($) Fair Value ($) % of Net Assets SIG Combibloc Group AG 3,785 78,251 127,474 0.1 Atlantia SPA 5,517 186,615 123,713 0.1 Bureau Veritas SA 3,116 95,219 122,084 0.1 VAT Group AG 294 51,741 121,150 0.1 Randstad NV 1,273 94,041 120,576 0.1 Smiths Group plc 4,370 109,081 118,861 0.1 KION Group AG 862 80,114 113,774 0.1 Signify NV 1,444 65,207 113,108 0.1 Bouygues SA 2,446 133,773 112,033 0.1 Epiroc AB Class B 4,534 60,958 110,258 0.1 DCC plc 1,077 123,545 109,031 0.1 Indutrade AB 3,288 40,877 104,262 0.1 Knorr-Bremse AG 713 94,061 101,563 0.1 Eiffage SA 802 95,159 101,050 0.1 Outotec Oyj 7,006 56,394 100,784 0.1 DS Smith plc 14,078 99,963 100,641 0.1 Royal Mail plc 10,000 69,495 98,773 0.1 Getlink SE 5,100 84,535 98,485 0.1 Wartsila Oyj Abp 5,336 117,165 98,067 0.1 Weir Group plc 3,011 84,550 95,341 0.1 Electrocomponents plc 5,244 56,888 92,308 0.1 GEA Group AG 1,775 90,917 89,041 0.1 ACS Actividades de Construccion y Servicios SA 2,633 123,093 87,346 0.1 Tomra Systems ASA 1,256 26,216 85,852 0.1 IMI plc 2,906 57,085 85,504 0.1 Rexel SA 3,276 61,881 84,863 0.1 Georg Fischer AG 44 57,540 80,931 0.1 Valmet Oyj 1,479 34,132 79,883 0.1 Trelleborg AB Class B 2,620 69,643 75,379 0.1 Schindler Holding AG 204 55,220 73,897 0.1 Lifco AB Class B 2,475 27,268 71,673 0.1 Spectris plc 1,285 52,008 71,177 0.1 Aalberts NV 1,068 55,048 71,078 0.1 Bollore SA 10,649 63,076 70,684 0.1 Diploma plc 1,369 30,352 68,008 0.1 Meggitt plc 8,470 71,979 66,824 0.1 Securitas AB Class B 3,339 70,156 65,316 0.1 thyssenkrupp AG 4,986 131,657 64,360 0.1 Beijer Ref AB Class B 2,909 32,015 64,234 0.1 Interpump Group SPA 873 29,910 64,023 0.1 Wienerberger AG 1,241 35,876 59,228 0.0 Volvo AB Class A 1,920 63,365 58,993 0.0 ISS A/S 2,017 91,957 58,632 0.0 Rheinmetall AG 477 61,977 58,350 0.0 Huhtamaki Oyj Series I 982 49,332 57,611 0.0 Belimo Holding AG 100 25,620 56,667 0.0 Elis SA 2,413 60,750 56,283 0.0 Rotork plc 9,563 43,705 55,686 0.0 Inchcape plc 4,225 52,502 55,543 0.0 InPost SA 2,206 63,925 54,832 0.0 Fluidra SA 1,103 26,695 54,181 0.0 Andritz AG 747 50,706 51,974 0.0 Sweco AB Class B 2,182 26,331 49,192 0.0 Grafton Group plc 2,481 34,165 48,680 0.0 Aeroports de Paris 300 61,418 48,394 0.0 Acciona SA 247 30,978 46,174 0.0 AFRY AB Series B 1,120 28,923 45,667 0.0 Hays plc 16,383 42,162 44,449 0.0 Leonardo SPA 4,405 75,954 44,065 0.0 Bucher Industries AG 67 27,342 43,424 0.0 Flughafen Zurich AG 210 52,047 43,043 0.0 Rockwool International A/S Class B 71 20,299 42,806 0.0 Rational AG 37 28,007 41,512 0.0 Addtech AB Series B 1,931 18,296 39,703 0.0 Konecranes Oyj Class A 745 31,880 38,860 0.0 IWG plc 7,513 39,348 38,633 0.0 Arcadis NV 759 18,659 38,476 0.0 Balfour Beatty plc 7,303 32,799 38,303 0.0 Koninklijke Vopak NV 681 42,760 38,302 0.0 Bravida Holding AB 2,121 20,725 38,020 0.0 SPIE SA 1,321 40,589 37,634 0.0 Buzzi Unicem SPA 1,110 31,822 36,464 0.0 Aggreko plc 2,454 35,828 36,186 0.0 Sulzer AG 207 29,759 35,440 0.0

213 Vanguard FTSE Developed Europe All Cap Index ETF

Description Number of Shares Cost ($) Fair Value ($) % of Net Assets DKSH Holding AG 373 34,082 35,378 0.0 Dassault Aviation SA 24 45,806 34,962 0.0 PostNL NV 5,113 28,834 34,329 0.0 QinetiQ Group plc 5,832 26,447 34,279 0.0 Saab AB Class B 1,029 52,051 33,836 0.0 Nexans SA 295 16,351 33,292 0.0 SFS Group AG 186 24,014 33,165 0.0 Fraport AG Frankfurt Airport Services Worldwide 388 42,554 32,739 0.0 Jungheinrich AG Pfd. 537 24,803 32,505 0.0 Pagegroup plc 3,396 27,823 32,474 0.0 Boskalis Westminster 813 34,336 32,307 0.0 Renishaw plc 375 22,341 31,600 0.0 Verallia SA 688 29,997 31,583 0.0 Inficon Holding AG 22 19,976 31,535 0.0 Cargotec Oyj Class B 491 29,842 31,437 0.0 Network International Holdings plc 5,020 47,360 31,404 0.0 Daetwyler Holding AG (Bearer) 74 15,773 30,979 0.0 Ultra Electronics Holdings plc 788 25,406 30,869 0.0 Peab AB Class B 2,007 25,593 30,717 0.0 Serco Group plc 13,028 27,519 30,243 0.0 TKH Group NV CVA 480 31,635 29,986 0.0 Varta AG 157 11,160 29,972 0.0 Loomis AB Class B 765 34,155 29,652 0.0 Interroll Holding AG 6 12,445 29,499 0.0 Cerved Group SPA 1,996 23,817 28,725 0.0 Stabilus SA 278 24,102 27,985 0.0 dormakaba Holding AG 33 31,158 27,873 0.0 Stadler Rail AG 511 31,421 27,848 0.0 Landis+Gyr Group AG 319 32,108 27,607 0.0 Oesterreichische Post AG 411 21,475 27,069 0.0 Mayr Melnhof Karton AG 102 24,462 26,902 0.0 FLSmidth & Co. A/S 522 28,771 26,874 0.0 Duerr AG 564 33,291 26,570 0.0 Kongsberg Gruppen ASA 826 21,271 26,340 0.0 Marshalls plc 2,215 18,097 25,993 0.0 NKT A/S 455 18,801 25,860 0.0 OC Oerlikon Corp. AG 1,862 30,308 25,593 0.0 Bystronic AG 15 18,476 25,118 0.0 Genuit Group plc 2,373 15,973 24,843 0.0 Instalco AB 482 22,882 24,776 0.0 Euronav NV 2,135 24,786 24,580 0.0 Nolato AB Class B 1,950 19,495 23,774 0.0 Norma Group SE 366 23,095 23,208 0.0 Lindab International AB 793 9,738 22,930 0.0 Euromoney Institutional Investor plc 1,261 18,932 21,960 0.0 Traton SE 559 19,798 21,951 0.0 NCC AB Class B 1,028 33,938 21,747 0.0 Oxford Instruments plc 547 14,686 21,615 0.0 Hochtief AG 223 37,861 21,207 0.0 Morgan Advanced Materials plc 3,504 18,594 21,159 0.0 Applus Services SA 1,710 26,479 20,692 0.0 Redde Northgate plc 2,989 17,132 20,401 0.0 DFDS A/S 292 17,287 20,401 0.0 Uponor Oyj Class A 557 9,342 19,991 0.0 Neles Oyj 1,107 44,485 19,768 0.0 Burckhardt Compression Holding AG 39 17,578 19,566 0.0 Kardex AG 68 13,143 19,494 0.0 Cia de Distribucion Integral Logista Holdings SA 753 22,161 19,174 0.0 Zardoya Otis SA 2,224 26,543 18,975 0.0 Electrolux Professional AB Class B 2,157 5,810 18,942 0.0 XP Power Ltd. 197 16,820 18,804 0.0 Veidekke ASA 1,113 18,830 18,451 0.0 Coats Group plc 15,790 22,937 18,395 0.0 Pfeiffer Vacuum Technology AG 78 14,677 18,350 0.0 Vesuvius plc 2,013 14,254 18,182 0.0 Schweiter Technologies AG (Bearer) 10 14,098 18,166 0.0 Schouw & Co. A/S 126 14,205 17,119 0.0 FDM Group Holdings plc 962 16,928 16,786 0.0 Mitie Group plc 14,054 22,798 16,348 0.0 Chemring Group plc 3,232 10,232 15,895 0.0 Deutz AG 1,550 15,012 15,523 0.0 Zehnder Group AG 127 9,780 15,006 0.0 Krones AG 135 21,459 14,938 0.0 bpost SA 1,007 31,681 14,921 0.0

214 Vanguard FTSE Developed Europe All Cap Index ETF

Description Number of Shares Cost ($) Fair Value ($) % of Net Assets Clarkson plc 270 9,221 14,734 0.0 Avon Rubber plc 328 23,355 14,678 0.0 Babcock International Group plc 2,931 40,516 14,540 0.0 Essentra plc 2,691 29,706 14,224 0.0 Munters Group AB 1,280 10,070 14,178 0.0 GVS SPA 677 16,014 13,730 0.0 Danieli & C Officine Meccaniche SPA Savings Shares 641 14,508 13,687 0.0 AMG Advanced Metallurgical Group NV 323 12,925 13,661 0.0 Nilfisk Holding A/S 314 18,221 13,611 0.0 Ibstock plc 3,655 13,656 13,343 0.0 Senior plc 5,096 19,149 13,207 0.0 LEM Holding SA 5 7,670 12,995 0.0 Enav SPA 2,305 12,442 12,863 0.0 Irish Continental Group plc 2,006 15,838 12,726 0.0 AGFA-Gevaert NV 2,212 12,649 12,717 0.0 Tarkett SA 431 21,872 12,658 0.0 Vicat SA 211 19,155 12,627 0.0 Cie d'Entreprises CFE 97 13,530 12,535 0.0 Frontline Ltd. 1,120 9,756 12,526 0.0 Indus Holding AG 237 18,019 11,624 0.0 YIT Oyj 1,514 14,405 11,483 0.0 Strabag SE (Bearer) 216 11,336 11,467 0.0 CTT-Correios de Portugal SA 1,614 14,727 11,424 0.0 Bossard Holding AG Class A 30 8,574 11,353 0.0 Equiniti Group plc 3,676 20,780 11,294 0.0 Vetropack Holding AG 150 10,511 11,213 0.0 Salini Impregilo SPA 3,410 17,725 11,207 0.0 Construcciones y Auxiliar de Ferrocarriles SA 214 11,681 11,172 0.0 Hamburger Hafen und Logistik AG 357 11,503 11,114 0.0 Carel Industries SPA 373 5,239 11,092 0.0 Alfen Beheer BV 95 10,247 10,986 0.0 Capita plc 17,152 93,789 10,947 0.0 Fugro NV 891 26,010 10,576 0.0 Keller Group plc 760 11,557 10,427 0.0 Sacyr SA 3,304 10,926 10,393 0.0 Bilfinger SE 280 15,046 10,378 0.0 Takkt AG 504 8,388 10,377 0.0 D/S Norden A/S 256 6,268 10,086 0.0 Maire Tecnimont SPA 2,200 14,669 9,963 0.0 Rieter Holding AG 40 8,130 9,688 0.0 Koninklijke BAM Groep NV 2,774 17,434 9,540 0.0 Washtec AG 123 14,330 9,447 0.0 Komax Holding AG 30 10,508 9,388 0.0 SIG plc 10,270 23,353 9,267 0.0 LISI SA Loyalty Bonus 228 13,070 9,224 0.0 Arbonia AG 388 7,722 9,190 0.0 Mersen SA 190 8,215 9,166 0.0 CIR SPA - Compagnie Industriali Riunite 12,100 9,963 8,991 0.0 Biesse SPA 212 7,953 8,773 0.0 Concentric AB 344 6,554 8,756 0.0 Prosegur Cia de Seguridad SA 2,132 15,748 8,641 0.0 Compagnie de L'Odet SA 5 7,516 8,591 0.0 Wacker Neuson SE 241 5,734 8,579 0.0 BayWa AG 155 6,096 8,285 0.0 Bobst Group SA 79 10,556 7,832 0.0 Hensoldt AG 347 8,004 7,745 0.0 Zignago Vetro SPA 308 7,896 7,599 0.0 Datalogic SPA 258 8,317 7,555 0.0 Palfinger AG 140 4,983 7,268 0.0 Koenig & Bauer AG 174 4,875 7,193 0.0 INVISIO AB 241 7,531 6,581 0.0 Implenia AG 202 18,037 6,516 0.0 Brunel International NV 403 9,295 6,462 0.0 Prosegur Cash SA 5,102 19,034 6,421 0.0 Wallenius Wilhelmsen ASA 1,485 11,348 6,407 0.0 Bonheur ASA 182 6,350 6,377 0.0 Global Dominion Access SA 938 6,844 6,019 0.0 BW LPG Ltd. 751 5,938 6,009 0.0 Fincantieri SPA 5,076 4,808 5,665 0.0 Hexagon Composites ASA 1,039 7,142 5,577 0.0 Bertrandt AG 67 8,753 5,549 0.0 Vossloh AG 84 4,386 5,249 0.0 Akka Technologies 140 11,309 4,835 0.0

215 Vanguard FTSE Developed Europe All Cap Index ETF

Description Number of Shares Cost ($) Fair Value ($) % of Net Assets ACS Actividades de Construccion y Servicios SA Rights Exp. 07/09/2021 2,633 4,925 4,563 0.0 Stolt-Nielsen Ltd. 247 4,049 4,471 0.0 Cementir Holding NV 330 2,817 4,168 0.0 Flughafen Wien AG 90 4,495 3,866 0.0 Corticeira Amorim SGPS SA 223 3,183 3,471 0.0 Manitou BF SA 56 1,978 2,220 0.0 Mota-Engil SGPS SA 1,073 4,490 2,203 0.0 Finablr plc 2,500 7,234 471 0.0 21,889,067 29,172,362 17.0 Real Estate Vonovia SE 6,256 378,804 500,872 0.3 Deutsche Wohnen SE 3,775 195,876 285,938 0.2 Segro plc 13,475 149,512 252,293 0.2 Unibail-Rodamco-Westfield 1,489 400,960 159,600 0.1 LEG Immobilien SE 790 108,080 140,896 0.1 Aroundtown SA 13,223 143,955 127,770 0.1 Gecina SA 584 117,703 110,803 0.1 Rightmove plc 9,328 75,579 103,624 0.1 Swiss Prime Site AG 835 99,546 102,688 0.1 Castellum AB 3,070 66,107 96,816 0.1 Land Securities Group plc 8,009 140,810 92,534 0.1 Fastighets AB Balder Class B 1,174 48,111 91,284 0.1 British Land Co. plc 10,073 108,239 85,278 0.1 Sagax AB Class B 2,033 58,931 74,828 0.1 PSP Swiss Property AG 475 63,466 74,769 0.1 Warehouses De Pauw CVA 1,502 40,742 71,023 0.1 Tritax Big Box REIT plc 20,336 55,855 68,288 0.1 Aedifica SA 401 52,914 65,541 0.1 L E Lundbergforetagen AB Class B 811 40,470 64,844 0.1 Klepierre SA 2,006 102,334 64,013 0.1 Unite Group plc 3,468 47,723 63,715 0.1 Cofinimmo SA 337 57,199 63,543 0.1 Kojamo Oyj 2,235 60,714 63,246 0.1 Derwent London plc 1,113 60,097 63,211 0.0 Covivio 574 70,680 60,791 0.0 Samhallsbyggnadsbolaget i Norden AB Series B 11,689 41,384 60,693 0.0 TAG Immobilien AG 1,520 38,423 59,732 0.0 Fabege AB 2,928 40,670 58,209 0.0 Entra ASA 1,800 30,144 50,976 0.0 Merlin Properties Socimi SA 3,697 61,458 47,428 0.0 Inmobiliaria Colonial Socimi SA 3,354 42,110 41,939 0.0 Alstria Office REIT-AG 1,806 34,090 41,346 0.0 CA Immobilien Anlagen AG 770 30,056 39,746 0.0 Wihlborgs Fastigheter AB 1,463 22,584 39,338 0.0 Grand City Properties SA 1,145 35,041 38,303 0.0 Big Yellow Group plc 1,711 25,965 38,255 0.0 LondonMetric Property plc 9,626 31,771 38,104 0.0 Allreal Holding AG 156 34,692 38,077 0.0 Assura plc 28,555 32,859 36,172 0.0 ICADE 337 37,638 36,028 0.0 Safestore Holdings plc 2,211 20,295 35,818 0.0 Primary Health Properties plc 13,408 30,189 35,299 0.0 Wallenstam AB Class B 1,735 19,959 34,015 0.0 ADLER Group SA 1,042 43,236 33,939 0.0 Grainger plc 6,676 27,031 32,548 0.0 Nyfosa AB 1,938 19,968 32,467 0.0 JM AB 754 30,347 32,305 0.0 Great Portland Estates plc 2,595 36,316 31,496 0.0 Kungsleden AB 1,983 17,033 29,746 0.0 Shaftesbury plc 3,029 41,547 29,509 0.0 Mobimo Holding AG 69 22,366 28,100 0.0 Immofinanz AG 1,000 29,816 27,828 0.0 Nexity SA 435 27,689 26,945 0.0 Hammerson plc 41,726 91,411 26,574 0.0 Savills plc 1,324 19,596 26,046 0.0 Hufvudstaden AB Class A 1,107 23,081 23,322 0.0 Capital & Counties Properties plc 8,279 40,718 22,844 0.0 Sirius Real Estate Ltd. 12,043 11,706 22,785 0.0 Instone Real Estate Group AG 570 20,861 21,261 0.0 St. Modwen Properties plc 2,143 12,784 20,419 0.0 S IMMO AG 686 11,979 20,349 0.0 Pandox AB Class B 983 25,389 20,268 0.0

216 Vanguard FTSE Developed Europe All Cap Index ETF

Description Number of Shares Cost ($) Fair Value ($) % of Net Assets Workspace Group plc 1,379 20,806 19,674 0.0 Montea NV 131 14,587 19,083 0.0 VGP NV 76 10,705 18,571 0.0 Catena AB 277 12,251 18,377 0.0 Shurgard Self Storage SA 271 16,333 16,197 0.0 Eurocommercial Properties NV GDR 495 22,650 15,251 0.0 Atrium Ljungberg AB Class B 538 11,293 15,183 0.0 Deutsche EuroShop AG 510 27,281 14,979 0.0 Xior Student Housing NV 199 16,817 14,845 0.0 Dios Fastigheter AB 1,131 10,217 14,518 0.0 Hibernia REIT plc 7,436 15,100 13,541 0.0 Retail Estates NV 130 15,917 13,077 0.0 Neinor Homes SA 772 15,076 12,879 0.0 PATRIZIA AG 394 10,303 12,729 0.0 Adapteo Oyj 519 8,676 12,324 0.0 DIC Asset AG 506 8,019 10,826 0.0 Wereldhave NV 493 30,516 10,403 0.0 UK Commercial Property REIT Ltd. 7,927 12,202 10,374 0.0 Intershop Holding AG 12 7,864 9,774 0.0 Citycon Oyj 899 14,641 9,486 0.0 BMO Commercial Property Trust 6,117 14,952 9,480 0.0 Befimmo SA 186 14,605 9,150 0.0 Platzer Fastigheter Holding AB 470 7,171 8,833 0.0 Picton Property Income Ltd. 5,794 7,797 8,623 0.0 CLS Holdings plc 1,992 8,172 8,195 0.0 NSI NV 164 8,719 7,839 0.0 Mercialys SA 517 5,855 7,752 0.0 Carmila SA 456 17,614 7,741 0.0 Vastned Retail NV 199 11,320 7,218 0.0 Metrovacesa SA 680 7,903 6,651 0.0 Lar Espana Real Estate Socimi SA 845 10,490 6,087 0.0 Helical plc 800 4,678 5,953 0.0 Aedas Homes SAU 150 7,078 5,132 0.0 TLG Immobilien AG 124 4,799 5,080 0.0 Immobiliare Grande Distribuzione SIIQ SPA 844 10,410 5,032 0.0 Hiag Immobilien Holding AG 36 4,854 4,919 0.0 Wereldhave Belgium Comm VA 42 6,494 3,007 0.0 Corestate Capital Holding SA 144 8,949 2,326 0.0 Intu Properties plc 14,688 70,317 446 0.0 Annehem Fastigheter AB Class B 41 217 194 0.0 4,440,257 4,628,186 2.7 Technology ASML Holding NV 4,371 1,256,310 3,719,062 2.2 SAP SE 12,262 1,801,976 2,139,923 1.3 Infineon Technologies AG 14,405 391,732 715,420 0.4 Prosus NV 4,794 491,602 580,588 0.4 Dassault Systemes SE 1,480 243,249 444,456 0.3 Capgemini SE 1,741 260,542 414,179 0.3 Amadeus IT Group SA 4,710 382,680 410,295 0.3 Hexagon AB Class B 19,625 175,237 360,313 0.2 STMicroelectronics NV 6,964 154,254 312,986 0.2 Logitech International SA 1,631 83,944 244,934 0.2 Just Eat Takeaway 2,005 223,548 229,526 0.1 ASM International NV 526 58,831 213,964 0.1 Sage Group plc 12,139 140,456 142,078 0.1 Temenos AG 666 96,946 132,581 0.1 Sinch AB 5,664 82,265 118,096 0.1 Auto Trader Group plc 10,612 80,270 114,984 0.1 Scout24 AG 958 63,608 100,053 0.1 BE Semiconductor Industries NV 814 42,313 85,516 0.1 TeamViewer AG 1,835 96,183 85,476 0.1 AVEVA Group plc 1,270 54,580 80,557 0.1 Atos SE 1,040 136,066 78,347 0.1 Dialog Semiconductor plc 762 41,176 73,361 0.1 Bechtle AG 297 29,008 68,322 0.1 ams AG 2,700 66,805 67,132 0.1 SimCorp A/S 425 34,468 66,068 0.0 SOITEC 231 22,491 63,062 0.0 United Internet AG 1,185 74,195 60,001 0.0 Alten SA 347 42,811 56,970 0.0 Nemetschek SE 588 26,495 55,712 0.0 Schibsted ASA Class A 899 33,106 53,765 0.0 Reply SPA 262 16,974 53,326 0.0

217 Vanguard FTSE Developed Europe All Cap Index ETF

Description Number of Shares Cost ($) Fair Value ($) % of Net Assets Nordic Semiconductor ASA 1,697 15,823 53,285 0.0 Avast plc 6,121 34,084 51,286 0.0 Netcompany Group A/S 358 18,194 50,372 0.0 Schibsted ASA Class B 967 38,963 49,900 0.0 Siltronic AG 221 27,687 45,598 0.0 Softcat plc 1,393 18,923 42,321 0.0 Aixtron AG 1,261 17,292 42,313 0.0 TietoEVRY Oyj 1,010 39,560 39,512 0.0 Sopra Steria Group SACA 145 27,815 34,538 0.0 Micro Focus International plc 3,621 142,304 33,883 0.0 Computacenter plc 744 14,998 32,734 0.0 Comet Holding AG 91 17,645 31,026 0.0 Software AG 536 25,657 29,863 0.0 Ascential plc 4,159 27,617 29,597 0.0 Softwareone Holding AG 1,010 32,950 29,564 0.0 CANCOM SE 390 26,034 29,208 0.0 QT Group Oyj 197 25,774 28,553 0.0 Melexis NV 216 20,704 27,771 0.0 Mycronic AB 688 9,448 25,721 0.0 Barco NV 695 15,804 23,556 0.0 Moneysupermarket.com Group plc 5,236 30,560 22,984 0.0 Atea ASA 815 11,550 19,633 0.0 Jenoptik AG 491 17,020 16,627 0.0 AT&S Austria Technologie & Systemtechnik AG 309 13,469 16,563 0.0 NCC Group plc 3,271 12,123 16,451 0.0 Bytes Technology Group plc 1,995 12,811 15,801 0.0 Indra Sistemas SA Series A 1,389 23,024 15,696 0.0 Asseco Poland SA 607 9,733 15,232 0.0 Kainos Group plc 583 5,981 14,710 0.0 S&T AG 483 16,341 13,689 0.0 Quadient 356 15,136 13,247 0.0 Sesa SPA 61 9,805 12,631 0.0 ALSO Holding AG 35 6,071 12,496 0.0 Vitec Software Group AB Class B 211 11,675 10,815 0.0 Crayon Group Holding ASA 592 11,790 10,725 0.0 New Work SE 26 9,110 10,118 0.0 Secunet Security Networks AG 18 7,376 9,912 0.0 Atoss Software AG 35 8,162 9,581 0.0 X-Fab Silicon Foundries SE 695 9,311 8,165 0.0 TomTom NV 698 10,267 7,242 0.0 Solutions 30 SE 777 12,177 6,652 0.0 u-blox Holding AG 71 7,709 6,468 0.0 Econocom Group SA 1,371 6,583 6,443 0.0 F-Secure Oyj 762 3,749 4,504 0.0 Funding Circle Holdings plc 1,412 9,756 3,647 0.0 Pharmagest Interactive 24 3,939 3,274 0.0 Alfa Financial Software Holdings plc 1,205 10,732 2,669 0.0 7,607,357 12,377,629 7.2 Telecommunications Deutsche Telekom AG 35,700 816,121 933,802 0.6 Vodafone Group plc 310,932 1,020,387 645,402 0.4 Cellnex Telecom SA 6,716 369,209 529,811 0.3 Telefonaktiebolaget LM Ericsson Class B 32,777 359,952 510,470 0.3 Nokia Oyj 62,233 458,505 412,668 0.3 Telefonica SA 55,514 620,044 321,280 0.2 BT Group plc 96,056 485,264 318,777 0.2 Orange SA 20,974 448,274 296,145 0.2 Swisscom AG 280 184,013 198,128 0.1 Telia Co. AB 28,207 166,913 155,118 0.1 Telenor ASA 7,023 165,788 146,641 0.1 Koninklijke KPN NV 36,840 159,285 142,498 0.1 Elisa Oyj Series A 1,565 87,081 115,646 0.1 Tele2 AB Class B 6,258 97,458 105,654 0.1 Telecom Italia SPA 129,403 150,171 79,603 0.1 Infrastrutture Wireless Italiane SPA 3,643 39,867 50,887 0.0 Freenet AG 1,423 54,236 41,626 0.0 SES SA FDR 3,888 100,624 36,781 0.0 Proximus SA 1,502 62,300 35,931 0.0 Telecom Italia SPA Savings Shares 54,505 46,994 35,762 0.0 Iliad SA 169 41,925 30,625 0.0 Cyfrowy Polsat SA 2,950 24,122 28,729 0.0 Spirent Communications plc 6,496 22,020 27,381 0.0 Eutelsat Communications SA 1,791 52,462 25,917 0.0

218 Vanguard FTSE Developed Europe All Cap Index ETF

Description Number of Shares Cost ($) Fair Value ($) % of Net Assets Huber + Suhner AG 225 16,561 23,541 0.0 Telenet Group Holding NV 504 32,725 23,491 0.0 Telefonica Deutschland Holding AG 6,954 38,151 22,722 0.0 1&1 AG 509 34,316 19,285 0.0 Euskaltel SA 978 12,461 15,769 0.0 Telecom Plus plc 810 17,757 15,741 0.0 Telefonaktiebolaget LM Ericsson Class A 999 16,094 15,564 0.0 Airtel Africa plc 11,514 15,408 15,176 0.0 Orange Polska SA 6,383 10,032 13,942 0.0 Telekom Austria AG Class A ADR 1,237 12,379 13,079 0.0 NOS SGPS SA 2,153 15,717 9,346 0.0 Orange Belgium SA 244 6,828 6,779 0.0 Ascom Holding AG 258 6,742 5,281 0.0 6,268,186 5,424,998 3.2 Utilities Enel SPA 85,792 676,534 986,719 0.6 Iberdrola SA 63,643 719,569 960,767 0.6 National Grid plc 39,138 653,406 616,489 0.4 Orsted A/S 2,085 204,364 362,334 0.2 E.ON SE 23,953 315,242 343,097 0.2 RWE AG Class A 6,999 227,746 314,097 0.2 SSE plc 11,523 279,535 295,776 0.2 Engie SA Loyalty Bonus 15,912 325,367 269,980 0.2 Veolia Environnement SA 5,630 175,053 210,577 0.1 EDP - Energias de Portugal SA 31,602 162,535 207,442 0.1 Fortum Oyj 4,844 125,231 165,458 0.1 Terna SPA 15,399 118,132 142,103 0.1 United Utilities Group plc 7,494 116,609 124,914 0.1 Suez 4,153 91,182 122,279 0.1 Red Electrica Corp. SA 4,961 132,933 114,050 0.1 Severn Trent plc 2,632 100,904 112,606 0.1 Endesa SA 3,475 103,426 104,408 0.1 Naturgy Energy Group SA 3,242 98,256 103,216 0.1 Electricite de France SA Loyalty Bonus 5,893 89,046 99,693 0.1 Pennon Group plc 4,480 63,396 87,021 0.1 Verbund AG Class A 712 38,321 81,189 0.0 EDP Renovaveis SA 2,560 43,384 73,458 0.0 Centrica plc 62,127 163,818 54,690 0.0 Elia System Operator SA 385 30,478 50,318 0.0 Hera SPA 8,764 39,365 44,839 0.0 Uniper SE 980 29,265 44,699 0.0 Italgas SPA 5,496 41,647 44,487 0.0 Engie SA 2,611 50,049 44,301 0.0 Befesa SA 461 28,583 43,868 0.0 A2A SPA 15,760 32,687 39,899 0.0 Drax Group plc 4,480 24,360 32,509 0.0 BKW AG 188 13,277 24,253 0.0 Iren SPA 6,449 21,041 22,786 0.0 PGE Polska Grupa Energetyczna SA 7,368 21,904 22,552 0.0 Encavis AG 947 12,223 22,167 0.0 Albioma SA Loyalty Bonus 400 10,376 20,277 0.0 ERG SPA 529 10,535 19,421 0.0 Redes Energeticas Nacionais SGPS SA 4,677 18,082 16,072 0.0 Solaria Energia y Medio Ambiente SA 696 16,093 15,576 0.0 EVN AG 484 10,934 14,130 0.0 ACEA SPA 460 10,659 13,166 0.0 Neoen SA 235 7,326 13,072 0.0 Falck Renewables SPA 1,381 7,971 11,276 0.0 Voltalia SA 331 10,666 10,937 0.0 Derichebourg SA 862 6,559 10,785 0.0 Tauron Polska Energia SA 9,279 6,545 10,081 0.0 ContourGlobal plc 2,312 8,035 7,633 0.0 Enea SA ADR 2,481 6,581 6,863 0.0 5,499,230 6,558,330 3.8 Total investments 145,799,631 169,928,525 99.2 Foreign currency contracts (Schedule 1) (4,058) (0.0) Futures contracts (Schedule 2) (19,344) (0.0) Other assets and liabilities (net) 1,393,570 0.8 Total net assets attributable to holders of redeemable units 171,298,693 100.0

219 Vanguard FTSE Developed Europe All Cap Index ETF

Schedule 1—Foreign Currency Contracts As at June 30, 2021 (unaudited)

Unrealized Appreciation Number of Settlement (Depreciation) Credit Contracts Contract Price Currency Sold Currency Bought Date ($) Rating* 1 CHF 0.896 Swiss Franc 306,085 U.S. Dollar 341,598 Sep 15/21 12,193 A+ 1 CAD 1.215 Canadian Dollar 493,587 U.S. Dollar 406,181 Sep 15/21 9,400 AA- 1 DKK 6.101 Danish Krone 334,706 U.S. Dollar 54,858 Sep 15/21 1,744 AA- 1 SEK 8.262 Swedish Krona 248,149 U.S. Dollar 30,035 Sep 15/21 1,238 AA- 1 EUR 0.842 Euro 144,125 U.S. Dollar 171,166 Sep 15/21 2 A+ 1 CHF 0.924 Swiss Franc 218,754 U.S. Dollar 236,658 Jul 02/21 0 AA- 1 DKK 6.271 Danish Krone 438,333 U.S. Dollar 69,903 Jul 02/21 0 AA- 1 NOK 8.605 Norwegian Krone 193,056 U.S. Dollar 22,435 Jul 02/21 0 AA- 1 USD 0.808 U.S. Dollar 1,756,440 Canadian Dollar 2,175,000 Jul 02/21 0 AA- Unrealized appreciation of foreign currency contracts 24,577 1 USD 1.217 U.S. Dollar 627,948 Euro 516,038 Sep 15/21 (18,695) A+ 1 USD 0.823 U.S. Dollar 241,375 Canadian Dollar 293,316 Sep 15/21 (5,586) AA- 1 USD 1.416 U.S. Dollar 146,582 Pound Sterling 103,547 Sep 15/21 (4,353) A+ 1 EUR 0.843 Euro 751,942 U.S. Dollar 891,728 Jul 02/21 (1) AA- 1 SEK 8.552 Swedish Krona 1,175,446 U.S. Dollar 137,444 Jul 02/21 (0) AA- 1 GBP 0.724 Pound Sterling 315,682 U.S. Dollar 436,100 Jul 02/21 (0) AA- Unrealized depreciation of foreign currency contracts (28,635) Net unrealized depreciation of foreign currency contracts (4,058)

* Sources: Standard & Poor’s and Fitch.

Schedule 2—Futures Contracts As at June 30, 2021 (unaudited)

Unrealized Appreciation Number of (Depreciation) Contracts Description Expiration Date Contract Value Notional Value ($) 15 Euro Stoxx 50 Sep 17/21 EUR 618,297 EUR 608,325 (14,644) 3 FTSE 100 Index Sep 17/21 GBP 212,162 GBP 209,415 (4,700) Unrealized depreciation of futures contracts (19,344) Net unrealized depreciation of futures contracts (19,344)

220 Vanguard FTSE Developed Europe All Cap Index ETF

Fund-Specific Notes—Concentration Risk As at June 30, 2021 (unaudited), and December 31, 2020 % of net assets attributable to holders of redeemable units

June 30, December 31, Sector Allocation 2021 2020 Equities Industrials 17.0 16.5 Financials 15.7 15.3 Consumer Discretionary 13.7 12.0 Health Care 13.6 13.8 Consumer Staples 11.1 12.0 Technology 7. 2 6. 9 Basic Materials 6.4 6.8 Energy 4.8 4.9 Utilities 3.8 4.4 Telecommunications 3.2 3.1 Real Estate 2.7 2.7 Other assets and liabilities (net) 0.8 1.6 100.0 100.0

% of investment portfolio

June 30, December 31, Market Allocation 2021 2020 Equities United Kingdom 24.1 24.2 France 15.8 15.7 Germany 14.2 14.6 Switzerland 14.1 14.5 Netherlands 6.5 6.1 Sweden 6.4 6.0 Italy 4.1 4.0 Denmark 3.8 3.9 Spain 3.8 3.9 Finland 2.2 2.2 Belgium 1. 8 1. 8 Norway 1. 4 1. 4 Other 1. 8 1. 7 100.0 100.0

221 Vanguard FTSE Developed ex North America High Dividend Yield Index ETF

Statement of Financial Position As at June 30, 2021 (unaudited), and December 31, 2020

June 30, December 31, 2021 2020 Assets Current assets Investments $30,720,869 $16,484,672 Cash 293,830 224,139 Amounts receivable for investments sold —2,425 Margin due from brokers 25,487 15,028 Dividends receivable 105,894 57,382 Unrealized appreciation of foreign currency contracts 3,405 210 Unrealized appreciation of futures contracts 210 2,437 Total assets 31,149,695 16,786,293 Liabilities Current liabilities Amounts payable for investments purchased —2,425 Distributions payable 379,245 128,621 Accrued expenses and other liabilities 5,336 679 Unrealized depreciation of foreign currency contracts 1240 Total liabilities excluding net assets attributable to holders of redeemable units 384,582 131,965 Total net assets attributable to holders of redeemable units $30,765,113 $16,654,328 Number of redeemable units outstanding (Note 9) 1,200,000 700,000 Net assets attributable to holders of redeemable units per unit $25.64 $23.79

The accompanying notes are an integral part of the financial statements.

222 Vanguard FTSE Developed ex North America High Dividend Yield Index ETF

Statement of Comprehensive Income For the six months ended June 30, 2021, and June 30, 2020 (unaudited)

2021 2020 Income Net gain (loss) on investments Dividend income $641,615 $374,404 Interest for distribution purposes —73 Income distribution from underlying funds 1,869 — Net realized gain (loss) on sale of investments 228,089 (715,512) Change in unrealized appreciation/depreciation of investments 1,121,071 (1,880,657) Net gain (loss) on investments 1,992,644 (2,221,692) Net gain (loss) on derivatives Net realized gain (loss) on foreign currency contracts (239) (4,308) Net realized gain (loss) on futures contracts 25,105 17,531 Change in unrealized appreciation/depreciation of foreign currency contracts 3,434 — Change in unrealized appreciation/depreciation of futures contracts (2,227) 3,803 Net gain (loss) on derivatives 26,073 17,026 Other income 22,900 3,885 Net realized gain (loss) on foreign currency transactions (6,133) 6,629 Change in unrealized appreciation/depreciation of foreign currency translations 915 1,387 Total income (net) 2,036,399 (2,192,765) Expenses (Note 10) Management fees 36,185 24,325 Overdraft expenses 38 — Independent Review Committee fees 1,341 1,352 Foreign withholding taxes 60,483 37,862 Transaction costs (Note 3) 22,102 4,149 Total expenses 120,149 67,688 Expenses absorbed or waived by manager (1,341) (1,352) Net expenses 118,808 66,336 Increase (decrease) in net assets attributable to holders of redeemable units $1,917,591 $(2,259,101) Weighted average number of redeemable units 938,122 719,231 Increase (decrease) in net assets attributable to holders of redeemable units per unit $2.04 $(3.14)

The accompanying notes are an integral part of the financial statements.

223 Vanguard FTSE Developed ex North America High Dividend Yield Index ETF

Statement of Changes in Net Assets Attributable to Holders of Redeemable Units For the six months ended June 30, 2021, and June 30, 2020 (unaudited)

2021 2020 Net assets attributable to holders of redeemable units, beginning of period $16,654,328 $17,795,765 Increase (decrease) in net assets attributable to holders of redeemable units $1,917,591 $(2,259,101) Distributions to holders of redeemable units Net investment income (529,086) (310,908) Total distributions to holders of redeemable units (529,086) (310,908) Redeemable unit transactions Proceeds from issuance of redeemable units 12,722,280 1,819,460 Payment for redeemable units redeemed — (2,033,060) Net redeemable unit transactions 12,722,280 (213,600) Net assets attributable to holders of redeemable units, end of period $30,765,113 $15,012,156

Statement of Cash Flows For the six months ended June 30, 2021, and June 30, 2020 (unaudited)

2021 2020 Cash flows from (used in) operating activities Increase (decrease) in net assets attributable to holders of redeemable units $1,917,591 $(2,259,101) Adjustments for: Net realized (gain) loss on sale of investments (228,089) 715,512 Change in unrealized appreciation/depreciation of investments (1,121,071) 1,880,657 Change in unrealized appreciation/depreciation of derivatives (1,207) (3,803) Change in unrealized appreciation/depreciation of foreign currency translations (915) (1,387) Purchase of investments (15,328,017) (3,285,469) Proceeds from sale of investments 2,440,980 3,424,969 Change in working capital (54,314) (9,249) Net cash from (used in) operating activities (12,375,042) 462,129 Cash flows from (used in) financing activities Proceeds from issuance of redeemable units 12,722,280 1,819,460 Distributions to holders of redeemable units, net of reinvested distributions (278,462) (201,084) Payment for redeemable units redeemed — (2,033,060) Net cash from (used in) financing activities 12,443,818 (414,684) Change in unrealized appreciation/depreciation of foreign currency translations 915 1,387 Net increase (decrease) in cash during the period $69,691 $48,832 Cash, beginning of period $224,139 $144,617 Cash, end of period $293,830 $193,449 Supplemental cash flow information relating to operating activities Dividends received, net of foreign withholding taxes, if applicable $532,620 $326,623 Income distributions received, net of foreign withholding taxes, if applicable $1,869 — Interest received, net of foreign withholding taxes, if applicable — $73 Interest paid $38 —

The accompanying notes are an integral part of the financial statements.

224 Vanguard FTSE Developed ex North America High Dividend Yield Index ETF

Schedule of Investment Portfolio As at June 30, 2021 (unaudited)

Description Number of Shares Cost ($) Fair Value ($) % of Net Assets Equities Basic Materials BHP Group Ltd. 8,686 331,150 392,201 1.3 Rio Tinto plc 3,213 271,107 326,976 1.1 BASF SE 2,709 273,733 264,309 0.9 BHP Group plc 6,153 197,849 224,196 0.7 Glencore plc 35,425 172,222 187,526 0.6 Anglo American plc ADR 3,639 143,786 178,815 0.6 Rio Tinto Ltd. 1,100 106,199 129,504 0.4 Fortescue Metals Group Ltd. 4,708 62,123 102,155 0.3 UPM-Kymmene Oyj 1,573 70,020 73,687 0.2 POSCO 190 45,576 72,705 0.2 Asahi Kasei Corp. 3,700 39,488 50,383 0.2 Covestro AG 532 38,765 42,546 0.1 Mitsubishi Chemical Holdings Corp. 3,800 36,114 39,577 0.1 South32 Ltd. 14,165 39,801 38,584 0.1 Boliden AB 808 32,327 38,491 0.1 Stora Enso Oyj Class R 1,691 34,591 38,205 0.1 SKF AB Class B 1,133 31,619 35,747 0.1 Yara International ASA 496 23,786 32,347 0.1 Solvay SA Class A 204 31,022 32,114 0.1 Norsk Hydro ASA 3,947 21,442 31,205 0.1 Sumitomo Chemical Co. Ltd. 4,400 26,075 28,914 0.1 Polymetal International plc 1,049 23,030 27,895 0.1 Evonik Industries AG 561 22,956 23,298 0.1 Mitsui Chemicals, Inc. 500 16,624 21,393 0.1 Mineral Resources Ltd. 419 16,585 20,929 0.1 Evolution Mining Ltd. 4,757 20,062 19,901 0.1 Evraz plc 1,745 17,090 17,672 0.1 ICL Group Ltd. 2,048 12,226 17,208 0.1 Tosoh Corp. 800 13,977 17,101 0.1 Orica Ltd. 1,200 18,784 14,815 0.1 Mitsubishi Gas Chemical Co. Inc. 554 12,466 14,562 0.1 Korea Zinc Co. Ltd. 29 13,234 13,760 0.1 Lotte Chemical Corp. 45 9,990 12,989 0.1 Kuraray Co. Ltd. 1,000 14,107 11,904 0.0 Alumina Ltd. 7,691 14,081 11,762 0.0 Denka Co. Ltd. 251 11,036 10,347 0.0 Teijin Ltd. 500 11,765 9,444 0.0 Daicel Corp. 800 8,020 8,158 0.0 DIC Corp. 250 8,195 7,824 0.0 Ube Industries Ltd. 300 6,989 7,527 0.0 Imerys SA 123 6,950 7,117 0.0 Fresnillo plc 497 8,099 6,560 0.0 Deterra Royalties Ltd. 1,187 4,568 4,966 0.0 Nippon Paper Industries Co. Ltd. 300 4,779 4,164 0.0 Yamato Kogyo Co. Ltd. 100 3,483 4,100 0.0 Lee & Man Paper Manufacturing Ltd. 4,285 5,010 4,038 0.0 Lotte Fine Chemical Co. Ltd. 51 2,684 3,701 0.0 Lintec Corp. 100 2,873 2,689 0.0 2,338,458 2,686,011 8.7 Consumer Discretionary Toyota Motor Corp. 7,261 649,946 786,607 2.6 Daimler AG 2,482 218,376 274,455 0.9 Honda Motor Co. Ltd. 5,061 181,654 200,450 0.7 Wesfarmers Ltd. 3,355 150,804 184,332 0.6 Volkswagen AG Pfd. 543 143,609 168,410 0.6 Industria de Diseno Textil SA 3,110 116,874 135,687 0.5 Bayerische Motoren Werke AG 953 107,327 124,988 0.4 Cie Generale des Etablissements Michelin SCA 519 85,718 102,509 0.3 Bridgestone Corp. 1,700 83,642 95,877 0.3 Daiwa House Industry Co. Ltd. 1,900 63,729 70,695 0.2 Porsche Automobil Holding SE Pfd. 453 44,219 60,110 0.2 WPP plc 3,506 58,484 58,428 0.2 Publicis Groupe SA 655 47,740 51,883 0.2 Persimmon plc 939 41,406 47,514 0.2 Subaru Corp. 1,800 54,230 44,010 0.2

225 Vanguard FTSE Developed ex North America High Dividend Yield Index ETF

Description Number of Shares Cost ($) Fair Value ($) % of Net Assets Sekisui House Ltd. 1,700 40,498 43,216 0.1 Sumitomo Electric Industries Ltd. 2,200 33,731 40,229 0.1 Volkswagen AG 94 27,274 38,209 0.1 Barratt Developments plc 2,991 32,888 35,570 0.1 Tabcorp Holdings Ltd. 6,147 25,944 29,602 0.1 Yamaha Motor Co. Ltd. 800 21,617 26,955 0.1 Berkeley Group Holdings plc 340 24,090 26,725 0.1 Aisin Corp. 500 23,984 26,498 0.1 Valeo SA 707 30,818 26,340 0.1 B&M European Value Retail SA 2,634 24,959 25,828 0.1 Electrolux AB Series B 680 21,272 23,365 0.1 Bellway plc 364 19,155 20,175 0.1 Nokian Renkaat Oyj 403 18,142 20,151 0.1 Husqvarna AB Class B 1,203 13,309 19,805 0.1 Bayerische Motoren Werke AG Pfd. 166 16,747 18,478 0.1 Rubis SCA 291 18,005 16,021 0.1 JB Hi-Fi Ltd. 334 11,249 15,705 0.1 Chow Tai Fook Jewellery Group Ltd. 5,387 9,006 15,238 0.1 Hyundai Motor Co. 52 6,330 13,694 0.1 Genting Singapore Ltd. 17,500 14,322 13,461 0.1 Iida Group Holdings Co. Ltd. 400 9,406 12,763 0.1 Crown Resorts Ltd. 1,070 12,406 11,847 0.0 ProSiebenSat.1 Media SE 474 12,583 11,677 0.0 NGK Spark Plug Co. Ltd. 600 11,933 11,019 0.0 International Consolidated Airlines Group SA 3,425 12,083 10,208 0.0 Kangwon Land, Inc. 313 7,375 9,258 0.0 ComfortDelGro Corp. Ltd. 5,900 11,349 8,914 0.0 Qantas Airways Ltd. 2,048 10,189 8,872 0.0 Harvey Norman Holdings Ltd. 1,691 7,361 8,615 0.0 Sumitomo Rubber Industries Ltd. 500 7,406 8,552 0.0 Singapore Press Holdings Ltd. 5,200 10,459 8,191 0.0 Hyundai Motor Co. Pfd. 63 7,526 7,987 0.0 Yokohama Rubber Co. Ltd. 300 5,836 7,963 0.0 J Front Retailing Co. Ltd. 700 8,968 7,693 0.0 Swatch Group AG 86 6,093 7,034 0.0 Yue Yuen Industrial Holdings Ltd. 2,201 7,843 6,731 0.0 Cheil Worldwide, Inc. 223 5,643 6,167 0.0 Jardine Cycle & Carriage Ltd. 300 5,410 5,903 0.0 TS Tech Co. Ltd. 300 5,749 5,740 0.0 Flight Centre Travel Group Ltd. 390 7,782 5,384 0.0 Toyota Boshoku Corp. 200 4,077 5,125 0.0 Sankyo Co. Ltd. 152 6,710 4,811 0.0 NagaCorp Ltd. 4,005 7,880 4,783 0.0 Heiwa Corp. 200 4,500 4,389 0.0 Swatch Group AG (Bearer) 10 2,918 4,252 0.0 Nexteer Automotive Group Ltd. 2,388 2,968 4,112 0.0 ALD SA 216 4,520 4,009 0.0 Lotte Shopping Co. Ltd. 31 3,318 3,937 0.0 Fuji Media Holdings, Inc. 200 3,031 2,754 0.0 Air New Zealand Ltd. 1,819 3,656 2,440 0.0 Noevir Holdings Co. Ltd. 37 2,227 2,328 0.0 Tokai Rika Co. Ltd. 100 1,995 1,987 0.0 Cafe de Coral Holdings Ltd. 568 2,076 1,446 0.0 2,704,374 3,118,111 10.2 Consumer Staples Nestlé SA 8,323 1,175,248 1,284,687 4.2 Unilever plc 7,702 569,985 557,386 1.8 British American Tobacco plc 6,725 354,510 322,115 1.1 Danone SA 1,774 155,778 154,666 0.5 Koninklijke Ahold Delhaize NV 2,926 97,427 107,722 0.4 Tesco plc 22,574 101,446 86,095 0.3 Japan Tobacco, Inc. 3,500 100,285 81,944 0.3 Imperial Brands plc 2,790 95,286 74,311 0.2 Coles Group Ltd. 3,756 52,974 59,674 0.2 Kirin Holdings Co. Ltd. 2,200 54,709 53,165 0.2 Carrefour SA 1,714 38,331 41,745 0.1 Mowi ASA 1,259 37,746 39,677 0.1 Kesko Oyj Class B 794 21,980 36,320 0.1 KT&G Corp. 320 33,579 29,698 0.1 Orkla ASA 2,249 26,554 28,383 0.1 WH Group Ltd. 24,987 28,669 27,810 0.1 WM Morrison Supermarkets plc 6,507 20,794 27,461 0.1 Treasury Wine Estates Ltd. 2,138 18,575 23,215 0.1

226 Vanguard FTSE Developed ex North America High Dividend Yield Index ETF

Description Number of Shares Cost ($) Fair Value ($) % of Net Assets J Sainsbury plc 4,851 20,363 22,555 0.1 Tate & Lyle plc 1,372 16,898 17,330 0.1 Tingyi Cayman Islands Holding Corp. 5,703 13,499 14,095 0.1 Want Want China Holdings Ltd. 16,064 14,819 14,088 0.1 ICA Gruppen AB 235 14,257 13,553 0.0 Salmar ASA 157 11,034 12,905 0.0 Metcash Ltd. 2,801 8,269 10,390 0.0 Leroy Seafood Group ASA 825 8,216 8,961 0.0 Lawson, Inc. 138 8,259 7,914 0.0 METRO AG 432 7,782 6,623 0.0 Dairy Farm International Holdings Ltd. 1,000 5,488 5,250 0.0 Uni-President China Holdings Ltd. 2,961 3,979 4,046 0.0 Golden Agri-Resources Ltd. 16,900 3,368 3,581 0.0 Lotte Corp. 81 3,315 3,580 0.0 Olam International Ltd. 2,000 3,386 2,948 0.0 First Pacific Co. Ltd. 6,011 2,792 2,540 0.0 Olam International Ltd. Rights Exp. 07/19/2021 300 0 97 0.0 3,129,600 3,186,530 10.4 Energy TotalEnergies SE 7,180 460,889 402,300 1.3 BP plc 58,724 414,919 316,437 1.0 Royal Dutch Shell plc Class A 11,943 385,455 295,586 1.0 Royal Dutch Shell plc Class B 11,123 356,238 266,196 0.9 Eni SPA 7,333 132,169 110,593 0.3 Equinor ASA 2,847 74,468 74,637 0.2 Repsol SA 3,950 71,444 61,219 0.2 Woodside Petroleum Ltd. 2,823 75,702 58,288 0.2 Snam SPA 6,454 42,203 46,204 0.1 ENEOS Holdings, Inc. 8,900 55,592 46,163 0.1 OMV AG 421 27,459 29,657 0.1 APA Group 3,495 32,497 28,917 0.1 Inpex Corp. 2,700 19,907 24,972 0.1 Lundin Petroleum AB 560 21,762 24,552 0.1 Polski Koncern Naftowy Orlen SA 929 18,776 23,201 0.1 Keppel Corp. Ltd. 4,200 23,974 21,164 0.1 Enagas SA 736 23,117 21,060 0.1 Idemitsu Kosan Co. Ltd. 700 23,659 20,954 0.1 Galp Energia SGPS SA Class B 1,529 28,723 20,549 0.1 Ampol Ltd. 708 19,017 18,568 0.1 TechnipFMC plc 1,386 13,527 15,395 0.0 Aker BP ASA 300 11,466 11,846 0.0 Cosmo Energy Holdings Co. Ltd. 200 5,307 5,683 0.0 2,338,270 1,944,141 6.3 Financials Commonwealth Bank of Australia 5,248 403,253 487,248 1.6 HSBC Holdings plc 60,317 558,615 430,575 1.4 Allianz SE 1,216 363,041 375,532 1.2 Westpac Banking Corp. 10,866 259,587 260,723 0.9 Mitsubishi UFJ Financial Group, Inc. 36,600 243,037 245,046 0.8 Banco Santander SA 50,676 267,144 239,588 0.8 National Australia Bank Ltd. 9,750 231,498 237,661 0.8 Australia & New Zealand Banking Group Ltd. 8,402 210,664 219,878 0.7 Zurich Insurance Group AG 441 207,516 219,299 0.7 ING Groep NV 11,551 175,367 188,964 0.6 UBS Group AG 9,714 174,708 184,268 0.6 AXA SA 5,691 183,794 178,720 0.6 Intesa Sanpaolo SPA 49,025 156,929 167,708 0.6 Sumitomo Mitsui Financial Group, Inc. 3,836 176,486 163,915 0.5 Banco Bilbao Vizcaya Argentaria SA 19,709 141,792 151,312 0.5 Barclays plc 49,868 140,118 145,977 0.5 DBS Group Holdings Ltd. 5,300 131,048 145,546 0.5 Nordea Bank Abp 10,511 121,010 145,062 0.5 Macquarie Group Ltd. 969 123,046 140,918 0.5 Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen 415 137,805 140,747 0.5 Mizuho Financial Group, Inc. 7,530 146,367 133,368 0.4 Oversea-Chinese Banking Corp. Ltd. 10,300 108,327 113,388 0.4 Tokio Marine Holdings, Inc. 1,909 122,426 108,793 0.4 Vanguard International High Dividend Yield Index ETF * 1,266 100,711 106,571 0.4 Swiss Re AG 831 99,283 92,934 0.3 Assicurazioni Generali SPA 3,731 87,799 92,622 0.3 United Overseas Bank Ltd. 3,800 91,067 90,386 0.3

227 Vanguard FTSE Developed ex North America High Dividend Yield Index ETF

Description Number of Shares Cost ($) Fair Value ($) % of Net Assets Sampo Oyj Class A 1,495 86,376 85,094 0.3 Societe Generale SA 2,290 87,074 83,601 0.3 DNB ASA 3,030 74,421 81,798 0.3 Aviva plc 11,584 80,136 80,434 0.3 Legal & General Group plc 17,536 79,266 77,275 0.3 KBC Group NV 812 74,654 76,673 0.3 ORIX Corp. 3,600 74,332 75,289 0.2 Dai-ichi Life Holdings, Inc. 3,100 57,756 70,349 0.2 KB Financial Group, Inc. 1,144 62,562 70,192 0.2 Swedbank AB Class A 2,967 68,167 68,410 0.2 Skandinaviska Enskilda Banken AB Class A 4,220 57,596 67,549 0.2 Shinhan Financial Group Co. Ltd. 1,469 65,625 65,581 0.2 Svenska Handelsbanken AB Class A 4,396 60,729 61,462 0.2 Credit Agricole SA 3,449 58,083 59,836 0.2 3i Group plc 2,815 43,375 56,486 0.2 Nomura Holdings, Inc. 8,900 54,483 56,380 0.2 Swiss Life Holding AG 93 53,733 56,014 0.2 Hang Seng Bank Ltd. 2,162 61,703 53,469 0.2 Natwest Group plc 15,164 53,867 52,711 0.2 Julius Baer Group Ltd. 640 41,914 51,768 0.2 NN Group NV 865 47,339 50,531 0.2 MS&AD Insurance Group Holdings, Inc. 1,400 55,599 50,108 0.2 CaixaBank SA 13,058 54,286 49,742 0.2 BOC Hong Kong Holdings Ltd. 10,722 52,752 45,050 0.2 Sompo Holdings, Inc. 972 40,107 44,527 0.1 Groupe Bruxelles Lambert SA 318 40,567 44,055 0.1 Hana Financial Group, Inc. 849 38,055 42,990 0.1 Danske Bank A/S 1,951 49,172 42,516 0.1 Sumitomo Mitsui Trust Holdings, Inc. 1,061 48,343 41,762 0.1 ASX Ltd. 575 39,417 41,540 0.1 Japan Post Holdings Co. Ltd. 3,900 48,635 39,609 0.1 St. James's Place plc 1,562 30,736 39,466 0.1 Suncorp Group Ltd. 3,796 44,081 39,207 0.1 Hannover Rueck SE 177 36,014 36,675 0.1 Ageas 525 36,420 36,081 0.1 Insurance Australia Group Ltd. 7,308 43,772 35,057 0.1 Bank Hapoalim BM 3,391 32,363 33,711 0.1 Admiral Group plc 613 26,372 32,969 0.1 Resona Holdings, Inc. 6,700 37,719 31,934 0.1 M&G plc 7,706 20,489 30,174 0.1 Daiwa Securities Group, Inc. 4,400 29,304 29,950 0.1 Intermediate Capital Group plc 821 27,341 29,830 0.1 Standard Life Aberdeen plc 6,360 32,715 29,484 0.1 Tr yg A/S 911 28,385 27,696 0.1 Aegon NV 5,202 31,033 26,729 0.1 T&D Holdings, Inc. 1,600 20,406 25,634 0.1 Baloise Holding AG 132 27,701 25,517 0.1 Computershare Ltd. 1,592 22,965 25,012 0.1 Samsung Fire & Marine Insurance Co. Ltd. 103 26,596 24,973 0.1 Singapore Exchange Ltd. 2,400 20,252 24,718 0.1 Medibank Pvt Ltd. 8,164 23,589 23,983 0.1 Poste Italiane SPA 1,347 18,311 22,056 0.1 Phoenix Group Holdings plc 1,782 21,105 20,619 0.1 SBI Holdings, Inc. 700 21,204 20,524 0.1 Magellan Financial Group Ltd. 406 16,845 20,329 0.1 Schroders plc 337 18,399 20,252 0.1 Direct Line Insurance Group plc 4,028 21,745 19,638 0.1 ASR Nederland NV 407 20,761 19,478 0.1 Woori Financial Group, Inc. 1,503 21,289 18,923 0.1 ABN AMRO Bank NV CVA 1,227 22,608 18,364 0.1 Amundi SA 168 16,089 18,343 0.1 Samsung Life Insurance Co. Ltd. 187 11,530 16,409 0.1 Bank of Queensland Ltd. 1,916 15,902 16,227 0.1 Bendigo & Adelaide Bank Ltd. 1,578 14,909 15,389 0.1 Concordia Financial Group Ltd. 3,300 14,428 14,985 0.1 Helvetia Holding AG 104 15,196 13,863 0.1 Gjensidige Forsikring ASA 507 13,007 13,847 0.0 Wendel SA 83 12,953 13,822 0.0 Quilter plc 5,299 12,893 13,484 0.0 Korea Investment Holdings Co. Ltd. 114 8,216 12,911 0.0 Mitsubishi HC Capital, Inc. 1,910 13,622 12,679 0.0 Bankinter SA 2,022 17,886 12,587 0.0 Japan Post Bank Co. Ltd. 1,200 15,331 12,491 0.0 Raiffeisen International Bank-Holding AG 399 11,259 11,191 0.0

228 Vanguard FTSE Developed ex North America High Dividend Yield Index ETF

Description Number of Shares Cost ($) Fair Value ($) % of Net Assets Fukuoka Financial Group, Inc. 500 10,172 10,817 0.0 Banca Mediolanum SPA 858 9,384 10,337 0.0 Mirae Asset Securities Co. Ltd. 970 6,255 10,058 0.0 Ashmore Group plc 1,447 10,462 9,530 0.0 Challenger Ltd. 1,876 11,504 9,435 0.0 CNP Assurances 444 11,797 9,356 0.0 Samsung Securities Co. Ltd. 187 6,707 9,243 0.0 Industrial Bank of Korea 785 9,469 9,063 0.0 Bank of East Asia Ltd. 3,933 11,592 9,043 0.0 Banque Cantonale Vaudoise 76 8,510 8,461 0.0 Aozora Bank Ltd. 300 8,775 8,317 0.0 IOOF Holdings Ltd. 2,050 8,765 8,138 0.0 Mebuki Financial Group, Inc. 3,100 9,488 8,093 0.0 Mapfre SA 3,072 10,155 8,041 0.0 DB Insurance Co. Ltd. 128 8,274 7,713 0.0 Talanx AG 14 6 7, 5 5 8 7, 3 9 3 0. 0 BNK Financial Group, Inc. 828 6,191 7,038 0.0 Aker ASA Class A 70 4,895 6,396 0.0 UnipolSai Assicurazioni SPA 1,684 5,983 6,054 0.0 NH Investment & Securities Co. Ltd. 408 5,879 5,787 0.0 Hachijuni Bank Ltd. 1,400 6,221 5,592 0.0 Hyundai Marine & Fire Insurance Co. Ltd. 195 6,756 5,468 0.0 Perpetual Ltd. 146 5,497 5,436 0.0 Seven Bank Ltd. 2,000 6,447 5,266 0.0 Hirogin Holdings, Inc. 800 6,693 5,221 0.0 DWS Group GmbH & Co. KGaA 93 4,412 5,220 0.0 Gunma Bank Ltd. 1,300 5,460 5,076 0.0 Yamaguchi Financial Group, Inc. 700 5,237 4,951 0.0 Linea Directa Aseguradora SA Cia de Seguros y Reaseguros 1,802 4,435 4,676 0.0 AEON Financial Service Co. Ltd. 300 4,261 4,381 0.0 DGB Financial Group, Inc. 405 4,073 4,142 0.0 Fuyo General Lease Co. Ltd. 49 4,246 3,838 0.0 Platinum Asset Management Ltd. 836 3,742 3,816 0.0 Matsui Securities Co. Ltd. 400 4,423 3,615 0.0 Samsung Card Co. Ltd. 91 3,498 3,432 0.0 Haitong International Securities Group Ltd. 7,256 2,996 2,476 0.0 Svenska Handelsbanken AB Class B 101 1,513 1,498 0.0 Skandinaviska Enskilda Banken AB Class C 87 1,392 1,376 0.0 Dah Sing Financial Holdings Ltd. 241 1,174 1,020 0.0 Dah Sing Banking Group Ltd. 623 1,074 851 0.0 Guotai Junan International Holdings Ltd. 4,243 1,050 839 0.0 8,202,718 8,283,264 26.9 Health Care Roche Holding AG 2,129 885,834 996,510 3.2 Novartis AG 6,258 709,944 706,896 2.3 AstraZeneca plc 3,875 459,558 575,576 1.9 Sanofi 3,207 385,288 416,130 1.4 GlaxoSmithKline plc 14,590 368,740 354,259 1.1 Bayer AG 2,910 256,780 218,837 0.7 Takeda Pharmaceutical Co. Ltd. 4,500 208,190 186,716 0.6 Sonic Healthcare Ltd. 1,406 39,594 50,192 0.2 Orion Oyj Class B 313 16,115 16,662 0.1 Kaken Pharmaceutical Co. Ltd. 100 5,270 5,311 0.0 Miraca Holdings, Inc. 149 4,544 4,761 0.0 3,339,857 3,531,850 11.5 Industrials Siemens AG 2,217 385,184 435,022 1.4 Deutsche Post AG 2,891 162,498 243,518 0.8 ABB, Ltd. 4,996 162,828 210,089 0.7 Vinci SA 1,455 189,688 192,279 0.6 Itochu Corp. 4,000 120,041 142,808 0.5 Volvo AB Class B 4,468 114,574 133,205 0.4 Mitsui & Co. Ltd. 4,700 109,439 131,119 0.4 Mitsubishi Corp. 3,500 121,397 118,240 0.4 Kone Oyj Class B 1,161 99,609 117,299 0.4 Cie de Saint-Gobain 1,392 85,237 113,532 0.4 Holcim Ltd. 1,511 102,472 112,343 0.4 Transurban Group 8,110 101,287 107,287 0.4 BAE Systems plc 9,518 86,176 84,992 0.3 CK Hutchison Holdings Ltd. 7,915 85,102 76,356 0.2 SGS SA 17 60,282 64,997 0.2

229 Vanguard FTSE Developed ex North America High Dividend Yield Index ETF

Description Number of Shares Cost ($) Fair Value ($) % of Net Assets Amcor plc CDI 4,527 62,487 63,675 0.2 Sumitomo Corp. 3,300 61,731 54,785 0.2 Smurfit Kappa Group plc 762 39,674 51,202 0.2 Marubeni Corp. 4,600 44,182 49,582 0.2 Jardine Matheson Holdings Ltd. 600 49,371 47,491 0.2 HeidelbergCement AG 439 42,994 46,636 0.2 Brambles Ltd. 4,372 42,354 46,497 0.2 Mondi plc 1,428 44,836 46,438 0.2 Toyota Tsusho Corp. 657 27,585 38,483 0.1 Adecco Group AG 455 35,391 38,316 0.1 Skanska AB Class B 1,059 30,226 34,807 0.1 Randstad NV 325 25,968 30,783 0.1 Xinyi Glass Holdings Ltd. 5,946 16,249 30,008 0.1 Signify NV 373 18,241 29,217 0.1 Bouygues SA 626 31,913 28,672 0.1 AGC, Inc. 543 21,730 28,231 0.1 DS Smith plc 3,761 25,498 26,887 0.1 Wartsila Oyj Abp 1,442 19,791 26,502 0.1 Outotec Oyj 1,791 18,498 25,764 0.1 GEA Group AG 490 21,442 24,580 0.1 Isuzu Motors Ltd. 1,500 15,683 24,551 0.1 Rexel SA 893 16,465 23,133 0.1 ACS Actividades de Construccion y Servicios SA 662 30,020 21,961 0.1 Lendlease Group 2,031 27,087 21,638 0.1 Sydney Airport 3,941 23,753 21,213 0.1 Dai Nippon Printing Co. Ltd. 800 22,004 20,966 0.1 Kajima Corp. 1,300 18,834 20,407 0.1 Obayashi Corp. 2,000 23,385 19,703 0.1 Taisei Corp. 483 20,071 19,615 0.1 Aurizon Holdings Ltd. 5,357 21,827 18,526 0.1 SITC International Holdings Co. Ltd. 3,528 8,791 18,255 0.1 Securitas AB Class B 911 15,682 17,821 0.1 Shimizu Corp. 1,700 16,838 16,160 0.1 Atlas Arteria Ltd. 2,710 16,352 16,048 0.1 Singapore Technologies Engineering Ltd. 4,500 16,243 16,043 0.1 Fletcher Building Ltd. 2,410 12,486 15,681 0.1 Rheinmetall AG 128 16,226 15,658 0.1 Swire Pacific Ltd. Class A 1,756 19,277 14,742 0.0 Andritz AG 210 12,300 14,611 0.0 Venture Corp. Ltd. 800 13,153 14,157 0.0 Haseko Corp. 800 12,965 13,585 0.0 Sojitz Corp. 3,600 14,258 13,455 0.0 Koninklijke Vopak NV 203 12,253 11,417 0.0 Downer EDI Ltd. 2,181 13,161 11,334 0.0 Amada Holdings Co. Ltd. 900 12,824 11,276 0.0 Hyundai Heavy Industries Holdings Co. Ltd. 143 10,045 11,133 0.0 DKSH Holding AG 113 9,565 10,718 0.0 Worley Ltd. 897 5,983 9,973 0.0 Kyowa Exeo Corp. 300 9,615 9,154 0.0 Sanwa Holdings Corp. 600 7,301 9,131 0.0 Sulzer AG 50 6,756 8,560 0.0 GS Engineering & Construction Corp. 179 6,536 8,444 0.0 CSR Ltd. 1,520 7,090 8,139 0.0 Penta-Ocean Construction Co. Ltd. 900 6,793 7,762 0.0 OC Oerlikon Corp. AG 557 6,361 7,656 0.0 Orora Ltd. 2,468 7,661 7,640 0.0 Nippon Electric Glass Co. Ltd. 253 6,519 7,367 0.0 GS Holdings Corp. 135 5,743 6,866 0.0 Credit Saison Co. Ltd. 400 6,721 6,043 0.0 Toda Corp. 700 5,754 5,975 0.0 BOC Aviation Ltd. 567 6,136 5,922 0.0 NWS Holdings Ltd. 4,418 8,432 5,819 0.0 Traton SE 128 3,973 5,026 0.0 Hochtief AG 52 7,365 4,945 0.0 CIMIC Group Ltd. 250 8,747 4,597 0.0 S-1 Corp. 51 4,602 4,593 0.0 KCC Corp. 12 2,700 4,533 0.0 Zardoya Otis SA 487 4,945 4,155 0.0 Kyudenko Corp. 100 3,967 3,977 0.0 Adelaide Brighton Ltd. 1,230 5,215 3,968 0.0 Kandenko Co. Ltd. 400 4,262 3,869 0.0 Hutchison Port Holdings Trust 13,600 4,046 3,789 0.0 Posco International Corp. 145 2,769 3,715 0.0 Doosan Bobcat, Inc. 68 2,745 3,589 0.0

230 Vanguard FTSE Developed ex North America High Dividend Yield Index ETF

Description Number of Shares Cost ($) Fair Value ($) % of Net Assets DL Holdings Co. Ltd. 39 3,704 3,431 0.0 KEPCO Plant Service & Engineering Co. Ltd. 68 2,772 3,204 0.0 Ssangyong C&E Co. Ltd. 345 2,550 3,168 0.0 Singapore Post Ltd. 4,800 3,818 3,162 0.0 Shun Tak Holdings Ltd. 7,134 3,151 2,844 0.0 Swire Pacific Ltd. Class B 1,236 1,827 1,721 0.0 Hanwha Corp. Pfd. 84 1,437 1,427 0.0 ACS Actividades de Construccion y Servicios SA Rights Exp. 07/09/2021 662 1,238 1,147 0.0 SIA Engineering Co. Ltd. 400 1,065 792 0.0 3,297,822 3,691,552 12.0 Real Estate Vonovia SE 1,675 121,610 134,105 0.4 Sun Hung Kai Properties Ltd. 4,200 81,301 77,485 0.3 CK Asset Holdings Ltd. 6,404 43,551 54,734 0.2 LEG Immobilien SE 214 35,254 38,167 0.1 Wharf Real Estate Investment Co. Ltd. 4,847 36,327 34,895 0.1 Aroundtown SA 3,551 36,002 34,312 0.1 Swiss Prime Site AG 221 27,206 27,178 0.1 New World Development Co. Ltd. 4,200 29,180 27,023 0.1 CapitaLand Ltd. 7,600 25,478 25,975 0.1 Daito Trust Construction Co. Ltd. 191 30,331 25,891 0.1 Castellum AB 807 23,056 25,450 0.1 Henderson Land Development Co. Ltd. 3,822 22,693 22,427 0.1 Hongkong Land Holdings Ltd. 3,400 19,471 20,041 0.1 PSP Swiss Property AG 127 19,622 19,991 0.1 Sino Land Co. Ltd. 10,126 19,916 19,763 0.1 Wharf Holdings Ltd. 4,063 11,550 19,177 0.1 Hang Lung Properties Ltd. 6,007 18,757 18,065 0.1 Hulic Co. Ltd. 1,100 16,538 15,341 0.0 Swire Properties Ltd. 3,204 11,808 11,827 0.0 Tokyo Tatemono Co. Ltd. 600 11,737 10,604 0.0 Nomura Real Estate Holdings, Inc. 300 8,513 9,432 0.0 Hysan Development Co. Ltd. 1,906 10,710 9,406 0.0 Kerry Properties Ltd. 1,522 6,753 6,213 0.0 Shui On Land Ltd. 12,913 2,945 2,594 0.0 Gazit-Globe Ltd. 152 1,855 1,358 0.0 Frasers Property Ltd. 222 245 231 0.0 672,409 691,685 2.3 Technology Canon, Inc. 2,900 97,261 81,308 0.3 Sage Group plc 3,222 33,647 37,711 0.1 Lenovo Group Ltd. 22,184 22,942 31,589 0.1 Trend Micro, Inc. 341 21,539 22,142 0.1 Seiko Epson Corp. 800 16,043 17,441 0.1 Brother Industries Ltd. 700 19,896 17,314 0.0 Konica Minolta Holdings, Inc. 1,300 7,396 8,905 0.0 218,724 216,410 0.7 Telecommunications Deutsche Telekom AG 9,559 215,931 250,034 0.8 KDDI Corp. 4,948 183,229 191,282 0.6 Vodafone Group plc 82,714 197,229 171,690 0.6 Softbank Corp. 8,020 134,218 130,056 0.4 Nippon Telegraph & Telephone Corp. 3,600 116,475 116,257 0.4 Telefonica SA 14,923 118,924 86,365 0.3 Orange SA 5,651 102,097 79,790 0.3 Swisscom AG 75 49,511 53,070 0.2 Singapore Telecommunications Ltd. 22,200 59,812 46,728 0.2 Telstra Corp. Ltd. 12,348 38,987 43,162 0.2 Telia Co. AB 7,587 42,354 41,723 0.1 Telenor ASA 1,872 44,290 39,088 0.1 Koninklijke KPN NV 9,769 37,869 37,787 0.1 Elisa Oyj Series A 423 27,871 31,258 0.1 Tele2 AB Class B 1,575 27,056 26,591 0.1 SK Telecom Co. Ltd. 66 19,505 23,223 0.1 Spark New Zealand Ltd. 5,366 20,264 22,286 0.1 Infrastrutture Wireless Italiane SPA 987 13,465 13,787 0.1 Telecom Italia SPA Savings Shares 18,477 12,357 12,123 0.0 Proximus SA 439 12,961 10,502 0.0 LG Uplus Corp. 599 8,283 10,110 0.0 PCCW Ltd. 12,004 8,961 7,790 0.0

231 Vanguard FTSE Developed ex North America High Dividend Yield Index ETF

Description Number of Shares Cost ($) Fair Value ($) % of Net Assets NetLink NBN Trust 8,300 7,335 7,264 0.0 Cyfrowy Polsat SA 739 6,533 7,197 0.0 Telefonica Deutschland Holding AG 1,934 7,957 6,319 0.0 Telenet Group Holding NV 133 8,103 6,199 0.0 VTech Holdings Ltd. 475 6,025 6,192 0.0 Telekom Austria AG Class A ADR 384 3,984 4,060 0.0 Hutchison Telecommunications Hong Kong Holdings Ltd. 6,000 1,352 1,464 0.0 StarHub Ltd. 1,000 1,483 1,124 0.0 SKY Perfect JSAT Holdings, Inc. 200 1,149 904 0.0 1,535,570 1,485,425 4.8 Utilities Enel SPA 23,003 231,446 264,564 0.9 Iberdrola SA 16,979 238,672 256,318 0.8 National Grid plc 10,510 157,070 165,550 0.5 E.ON SE 6,415 91,133 91,887 0.3 RWE AG Class A 1,865 78,166 83,696 0.3 SSE plc 3,078 70,906 79,007 0.3 Hong Kong & China Gas Co. Ltd. 32,564 60,940 62,621 0.2 CLP Holdings Ltd. 4,826 65,567 59,100 0.2 Veolia Environnement SA 1,487 48,934 55,618 0.2 EDP - Energias de Portugal SA 8,325 51,550 54,647 0.2 Engie SA 2,945 56,472 49,968 0.2 Fortum Oyj 1,277 40,437 43,619 0.1 Terna SPA 4,106 34,721 37,890 0.1 United Utilities Group plc 2,023 30,204 33,721 0.1 Engie SA Loyalty Bonus 1,958 39,155 33,221 0.2 Suez 1,096 24,206 32,270 0.1 Chubu Electric Power Co. Inc. 2,100 33,620 31,817 0.1 Power Assets Holdings Ltd. 4,008 33,739 30,453 0.1 Severn Trent plc 707 26,929 30,248 0.1 Red Electrica Corp. SA 1,278 32,688 29,380 0.1 Endesa SA 938 30,366 28,183 0.1 Naturgy Energy Group SA 878 28,976 27,953 0.1 Kansai Electric Power Co. Inc. 2,100 26,832 24,823 0.1 Pennon Group plc 1,246 19,133 24,203 0.1 Origin Energy Ltd. 5,210 29,819 21,844 0.1 Korea Electric Power Corp. 753 20,225 20,576 0.1 Meridian Energy Ltd. 3,665 16,143 16,902 0.1 Contact Energy Ltd. 2,323 15,084 16,643 0.1 Electricite de France SA 881 14,595 14,904 0.1 Tohoku Electric Power Co. Inc. 1,400 16,530 13,589 0.1 AGL Energy Ltd. 1,765 26,846 13,455 0.0 Kyushu Electric Power Co. Inc. 1,400 15,347 13,355 0.0 CK Infrastructure Holdings Ltd. 1,669 14,551 12,322 0.0 Mercury NZ Ltd. 2,095 9,449 12,091 0.0 Italgas SPA 1,492 11,507 12,077 0.0 Hera SPA 2,176 10,444 11,133 0.0 Uniper SE 243 10,097 11,084 0.0 A2A SPA 4,260 9,973 10,785 0.0 Electricite de France SA Loyalty Bonus 634 11,724 10,726 0.0 Chugoku Electric Power Co. Inc. 900 13,960 10,182 0.0 Electric Power Development Co. Ltd. 500 11,662 8,842 0.0 AusNet Services Ltd. 5,301 8,607 8,624 0.0 Sembcorp Industries Ltd. 2,900 5,061 5,717 0.0 Shikoku Electric Power Co. Inc. 500 4,721 4,217 0.0 Korea Gas Corp. 86 2,758 3,489 0.0 Towngas China Co. Ltd. 2,815 1,951 2,576 0.0 1,832,916 1,885,890 6.1 Total investments 29,610,718 30,720,869 99.9 Foreign currency contracts (Schedule 1) 3,404 0.0 Futures contracts (Schedule 2) 210 0.0 Other assets and liabilities (net) 40,630 0.1 Total net assets attributable to holders of redeemable units 30,765,113 100.0 * Affiliated fund. Refer to Note 10(b).

232 Vanguard FTSE Developed ex North America High Dividend Yield Index ETF

Schedule 1—Foreign Currency Contracts As at June 30, 2021 (unaudited)

Unrealized Appreciation Number of Settlement (Depreciation) Credit Contracts Contract Price Currency Sold Currency Bought Date ($) Rating* 1 GBP 0.706 Pound Sterling 22,927 U.S. Dollar 32,456 Sep 15/21 963 A+ 1 CHF 0.896 Swiss Franc 21,766 U.S. Dollar 24,291 Sep 15/21 867 A+ 1 JPY 109.564 Japanese Yen 4,247,461 U.S. Dollar 38,767 Sep 15/21 588 AA- 1 EUR 0.822 Euro 14,624 U.S. Dollar 17,796 Sep 15/21 530 A+ 1 AUD 1.287 Australian Dollar 14,000 U.S. Dollar 10,879 Jul 02/21 457 A+ 1 HKD 7.766 Hong Kong Dollar 20,088 U.S. Dollar 2,587 Jul 06/21 0 AA- 1 NOK 8.605 Norwegian Krone 7,500 U.S. Dollar 871 Jul 02/21 0 AA- 1 AUD 1.332 Australian Dollar 4,122 U.S. Dollar 3,095 Jul 02/21 0 A+ 1 USD 0.808 U.S. Dollar 235,000 Canadian Dollar 291,000 Jul 02/21 0 AA- 1 JPY 110.990 Japanese Yen 3,656,378 U.S. Dollar 32,943 Jul 02/21 0 AA- 1 EUR 0.843 Euro 7,166 U.S. Dollar 8,499 Jul 02/21 0 A+ 1 GBP 0.724 Pound Sterling 6,355 U.S. Dollar 8,779 Jul 02/21 0 A+ Unrealized appreciation of foreign currency contracts 3,405 1 USD 0.009 U.S. Dollar 34,356 Japanese Yen 3,810,788 Sep 15/21 (1) AA- 1 SGD 1.344 Singapore Dollar 3,501 U.S. Dollar 2,604 Jul 02/21 (0) AA- Unrealized depreciation of foreign currency contracts (1) Net unrealized appreciation of foreign currency contracts 3,404

* Sources: Standard & Poor’s and Fitch.

Schedule 2—Futures Contracts As at June 30, 2021 (unaudited)

Unrealized Appreciation Number of (Depreciation) Contracts Description Expiration Date Contract Value Notional Value ($) 1 S&P 500 Index Micro E-mini Sep 17/21 USD 21,274 USD 21,443 210 Unrealized appreciation of futures contracts 210 Net unrealized appreciation of futures contracts 210

233 Vanguard FTSE Developed ex North America High Dividend Yield Index ETF

Fund-Specific Notes—Concentration Risk As at June 30, 2021 (unaudited), and December 31, 2020 % of net assets attributable to holders of redeemable units

June 30, December 31, Sector Allocation 2021 2020 Equities Financials 26.9 29.1 Industrials 12.0 12.6 Health Care 11.5 8.6 Consumer Staples 10.4 5.9 Consumer Discretionary 10.2 12.1 Basic Materials 8.7 9.1 Energy 6.3 6.6 Utilities 6.1 6.6 Telecommunications 4.8 5.1 Real Estate 2.3 2.2 Technology 0.7 1.1 Other assets and liabilities (net) 0.1 1.0 100.0 100.0

% of investment portfolio

June 30, December 31, Market Allocation 2021 2020 Equities United Kingdom 19.4 20.9 Japan 15.9 16.7 Switzerland 13.7 7.0 Australia 10.7 10.7 Germany 10.6 11.2 France 7. 3 8. 0 Spain 3.7 4.1 Hong Kong 3.1 2.9 Italy 2.7 3.6 Finland 2.1 2.1 Sweden 2.1 2.3 South Korea 2.0 3.0 Singapore 1. 8 1. 9 Netherlands 1. 7 1. 6 Norway 1. 2 1. 2 Other 2.0 2.8 100.0 100.0

234 Vanguard FTSE Emerging Markets All Cap Index ETF

Statement of Financial Position As at June 30, 2021 (unaudited), and December 31, 2020

June 30, December 31, 2021 2020 Assets Current assets Investments $1,606,324,434 $1,271,005,866 Cash 1,531,357 7,582,130 Amounts receivable for redeemable units issued 3,239,755 3,466,617 Margin due from brokers 37 — Unrealized appreciation of foreign currency contracts 131 15,439 Total assets 1,611,095,714 1,282,070,052 Liabilities Current liabilities Amounts payable for investments purchased 4,443,389 3,458,244 Margin due to brokers — 686,546 Distributions payable — 5,913,940 Accrued expenses and other liabilities 117,024 44,906 Unrealized depreciation of foreign currency contracts —7,400 Total liabilities excluding net assets attributable to holders of redeemable units 4,560,413 10,111,036 Total net assets attributable to holders of redeemable units $1,606,535,301 $1,271,959,016 Number of redeemable units outstanding (Note 9) 39,700,000 33,160,000 Net assets attributable to holders of redeemable units per unit $40.47 $38.36

The accompanying notes are an integral part of the financial statements.

235 Vanguard FTSE Emerging Markets All Cap Index ETF

Statement of Comprehensive Income For the six months ended June 30, 2021, and June 30, 2020 (unaudited)

2021 2020 Income Net gain (loss) on investments Interest for distribution purposes $7 $3,651 Income distribution from underlying funds 10,167,365 5,783,179 Net realized gain (loss) on sale of investments 12,981,286 (4,088,280) Change in unrealized appreciation/depreciation of investments 61,170,542 (79,042,237) Net gain (loss) on investments 84,319,200 (77,343,687) Net gain (loss) on derivatives Net realized gain (loss) on foreign currency contracts (375,924) 308,596 Net realized gain (loss) on futures contracts (149) — Change in unrealized appreciation/depreciation of foreign currency contracts (7,908) (61,383) Net gain (loss) on derivatives (383,981) 247,213 Net realized gain (loss) on foreign currency transactions 407,795 (363,716) Change in unrealized appreciation/depreciation of foreign currency translations (52,298) 63,099 Total income (net) 84,290,716 (77,397,091) Expenses (Note 10) Management fees 909,228 603,367 Overdraft expenses 58 — Independent Review Committee fees 1,341 1,352 Foreign withholding taxes 1,529,242 869,226 Transaction costs (Note 3) 237 128 Total expenses 2,440,106 1,474,073 Expenses absorbed or waived by manager (1,341) (1,352) Net expenses 2,438,765 1,472,721 Increase (decrease) in net assets attributable to holders of redeemable units $81,851,951 $(78,869,812) Weighted average number of redeemable units 37,334,309 31,000,824 Increase (decrease) in net assets attributable to holders of redeemable units per unit $2.19 $(2.54)

The accompanying notes are an integral part of the financial statements.

236 Vanguard FTSE Emerging Markets All Cap Index ETF

Statement of Changes in Net Assets Attributable to Holders of Redeemable Units For the six months ended June 30, 2021, and June 30, 2020 (unaudited)

2021 2020 Net assets attributable to holders of redeemable units, beginning of period $1,271,959,016 $1,067,586,255 Increase (decrease) in net assets attributable to holders of redeemable units $81,851,951 $(78,869,812) Distributions to holders of redeemable units Net investment income (8,254,158) (4,926,688) Return of capital — (166,268) Total distributions to holders of redeemable units (8,254,158) (5,092,956) Redeemable unit transactions Proceeds from issuance of redeemable units 342,710,710 100,977,223 Payment for redeemable units redeemed (81,732,218) (109,750,648) Net redeemable unit transactions 260,978,492 (8,773,425) Net assets attributable to holders of redeemable units, end of period $1,606,535,301 $974,850,062

Statement of Cash Flows For the six months ended June 30, 2021, and June 30, 2020 (unaudited)

2021 2020 Cash flows from (used in) operating activities Increase (decrease) in net assets attributable to holders of redeemable units $81,851,951 $(78,869,812) Adjustments for: Net realized (gain) loss on sale of investments (12,981,286) 4,088,280 Change in unrealized appreciation/depreciation of investments (61,170,542) 79,042,237 Change in unrealized appreciation/depreciation of derivatives 7,908 61,383 Change in unrealized appreciation/depreciation of foreign currency translations 52,298 (63,099) 1 Purchase of investments (0) (1,642,131) 2 Proceeds from sale of investments 969,674 13,054,256 Change in working capital (614,465) 25,746 Net cash from (used in) operating activities 8,115,538 15,696,860 Cash flows from (used in) financing activities 1 Proceeds from issuance of redeemable units 74,592 1,663,937 Distributions to holders of redeemable units, net of reinvested distributions (14,168,098) (15,802,544) 2 Payment for redeemable units redeemed (20,507) (1,975,022) Net cash from (used in) financing activities (14,114,013) (16,113,629) Change in unrealized appreciation/depreciation of foreign currency translations (52,298) 63,099 Net increase (decrease) in cash during the period $(6,050,773) $(353,670) Cash, beginning of period $7,582,130 $667,824 Cash, end of period $1,531,357 $314,154 Supplemental cash flow information relating to operating activities Income distributions received, net of foreign withholding taxes, if applicable $8,638,123 $4,913,953 Interest received, net of foreign withholding taxes, if applicable $7 $3,651 Interest paid $58 —

1 Excludes in-kind transactions of $342,862,980 and $99,315,219 for the periods ended June 30, 2021 and 2020. 2 Excludes in-kind transactions of $81,711,711 and $107,775,055 for the periods ended June 30, 2021 and 2020.

The accompanying notes are an integral part of the financial statements.

237 Vanguard FTSE Emerging Markets All Cap Index ETF

Schedule of Investment Portfolio As at June 30, 2021 (unaudited)

Description Number of Units Cost ($) Fair Value ($) % of Net Assets Exchange-traded funds Vanguard FTSE Emerging Markets ETF* 23,860,080 1,344,151,902 1,606,324,434 100.0 Total investments 1,344,151,902 1,606,324,434 100.0 Foreign currency contracts (Schedule 1) 131 0.0 Other assets and liabilities (net) 210,736 0.0 Total net assets attributable to holders of redeemable units 1,606,535,301 100.0 * Affiliated fund. Refer to Note 10(b).

Schedule 1—Foreign Currency Contracts As at June 30, 2021 (unaudited)

Unrealized Appreciation Number of Settlement (Depreciation) Credit Contracts Contract Price Currency Sold Currency Bought Date ($) Rating* 1 CAD 1.239 Canadian Dollar 407,011 U.S. Dollar 328,446 Jul 02/21 131 AA- 1 CAD 1.240 Canadian Dollar 809,084 U.S. Dollar 652,698 Jul 06/21 0 AA- 1 CAD 1.240 Canadian Dollar 2,022,710 U.S. Dollar 1,631,744 Jul 06/21 0 AA- Unrealized appreciation of foreign currency contracts 131 Net unrealized appreciation of foreign currency contracts 131

* Sources: Standard & Poor’s and Fitch.

238 Vanguard FTSE Emerging Markets All Cap Index ETF

Fund-Specific Notes—Concentration Risk As at June 30, 2021 (unaudited), and December 31, 2020 % of net assets attributable to holders of redeemable units

June 30, December 31, Sector Allocation 2021 2020 Underlying U.S.-domiciled Vanguard Fund Technology 24.9 24.0 Financials 18.0 18.7 Consumer Discretionary 15.9 17.0 Basic Materials 7. 6 6. 5 Industrials 7. 0 6. 4 Energy 6.0 5.9 Consumer Staples 5.5 5.7 Health Care 5.0 4.5 Telecommunications 3.5 4.3 Real Estate 3.2 3.4 Utilities 2.5 2.6 Other assets and liabilities (net) 0.9 1.0 100.0 100.0

% of investment portfolio

June 30, December 31, Market Allocation 2021 2020 Underlying U.S.-domiciled Vanguard Fund China 40.2 42.4 Taiwan 17.6 16.5 India 12.7 11.0 Brazil 6.4 5.9 South Africa 4.1 4.1 Saudi Arabia 3.3 2.9 Russia 2.9 2.7 Thailand 2.4 2.7 Mexico 2.1 2.1 Malaysia 1. 8 2. 2 Indonesia 1. 3 1. 6 Other 5.2 5.9 100.0 100.0

239 Vanguard FTSE Global All Cap ex Canada Index ETF

Statement of Financial Position As at June 30, 2021 (unaudited), and December 31, 2020

June 30, December 31, 2021 2020 Assets Current assets Investments $1,220,341,969 $1,030,730,148 Cash 6,565,763 — Amounts receivable for redeemable units issued 4,911,880 3,156,846 Amounts receivable for investments sold — 1,806,444 Margin due from brokers 41,567 44 Income distributions receivable 3,308,184 3,705,038 Unrealized appreciation of foreign currency contracts 1,117 5,737 Unrealized appreciation of futures contracts 9,946 — Total assets 1,235,180,426 1,039,404,257 Liabilities Current liabilities Bank overdraft — 1,305,850 Amounts payable for investments purchased 4,910,976 3,148,857 Distributions payable 5,228,632 3,999,441 Accrued expenses and other liabilities 62,623 22,986 Unrealized depreciation of foreign currency contracts —6,122 Total liabilities excluding net assets attributable to holders of redeemable units 10,202,231 8,483,256 Total net assets attributable to holders of redeemable units $1,224,978,195 $1,030,921,001 Number of redeemable units outstanding (Note 9) 25,000,000 22,930,000 Net assets attributable to holders of redeemable units per unit $49.00 $44.96

The accompanying notes are an integral part of the financial statements.

240 Vanguard FTSE Global All Cap ex Canada Index ETF

Statement of Comprehensive Income For the six months ended June 30, 2021, and June 30, 2020 (unaudited)

2021 2020 Income Net gain (loss) on investments Interest for distribution purposes —$380 Income distribution from underlying funds $9,552,430 7,711,896 Net realized gain (loss) on sale of investments 3,295,646 7,932,633 Change in unrealized appreciation/depreciation of investments 92,061,654 (35,962,418) Net gain (loss) on investments 104,909,730 (20,317,509) Net gain (loss) on derivatives Net realized gain (loss) on foreign currency contracts (17,779) 229,306 Net realized gain (loss) on futures contracts 68,537 927 Change in unrealized appreciation/depreciation of foreign currency contracts 1,502 (16,884) Change in unrealized appreciation/depreciation of futures contracts 9,946 — Net gain (loss) on derivatives 62,206 213,349 Net realized gain (loss) on foreign currency transactions 11,536 (205,273) Change in unrealized appreciation/depreciation of foreign currency translations 6,730 22,514 Total income (net) 104,990,202 (20,286,919) Expenses (Note 10) Management fees 550,223 418,945 Independent Review Committee fees 1,341 1,352 Foreign withholding taxes 774,191 745,512 Transaction costs (Note 3) 134 2,919 Total expenses 1,325,889 1,168,728 Expenses absorbed or waived by manager (1,341) (1,352) Net expenses 1,324,548 1,167,376 Increase (decrease) in net assets attributable to holders of redeemable units $103,665,654 $(21,454,295) Weighted average number of redeemable units 23,871,160 22,691,648 Increase (decrease) in net assets attributable to holders of redeemable units per unit $4.34 $(0.95)

The accompanying notes are an integral part of the financial statements.

241 Vanguard FTSE Global All Cap ex Canada Index ETF

Statement of Changes in Net Assets Attributable to Holders of Redeemable Units For the six months ended June 30, 2021, and June 30, 2020 (unaudited)

2021 2020 Net assets attributable to holders of redeemable units, beginning of period $1,030,921,001 $890,964,685 Increase (decrease) in net assets attributable to holders of redeemable units $103,665,654 $(21,454,295) Distributions to holders of redeemable units Net investment income (7,196,481) (6,863,571) Total distributions to holders of redeemable units (7,196,481) (6,863,571) Redeemable unit transactions Proceeds from issuance of redeemable units 105,107,571 59,796,819 Payment for redeemable units redeemed (7,519,550) (53,388,901) Net redeemable unit transactions 97,588,021 6,407,918 Net assets attributable to holders of redeemable units, end of period $1,224,978,195 $869,054,737

Statement of Cash Flows For the six months ended June 30, 2021, and June 30, 2020 (unaudited)

2021 2020 Cash flows from (used in) operating activities Increase (decrease) in net assets attributable to holders of redeemable units $103,665,654 $(21,454,295) Adjustments for: Net realized (gain) loss on sale of investments (3,295,646) (7,932,633) Change in unrealized appreciation/depreciation of investments (92,061,654) 35,962,418 Change in unrealized appreciation/depreciation of derivatives (11,448) 16,884 Change in unrealized appreciation/depreciation of foreign currency translations (6,730) (22,514) 1 Purchase of investments (3,369) (10,978,627) 2 Proceeds from sale of investments 5,089,328 14,435,099 Change in working capital 394,968 1,026,054 Net cash from (used in) operating activities 13,771,103 11,052,386 Cash flows from (used in) financing activities 1 Proceeds from issuance of redeemable units 66,502 29,305 Distributions to holders of redeemable units, net of reinvested distributions (5,967,290) (7,002,488) 2 Payment for redeemable units redeemed (5,432) (20,297) Net cash from (used in) financing activities (5,906,220) (6,993,480) Change in unrealized appreciation/depreciation of foreign currency translations 6,730 22,514 Net increase (decrease) in cash during the period $7,871,613 $4,081,420 Cash (overdraft), beginning of period $(1,305,850) $(1,828,920) Cash, end of period $6,565,763 $2,252,500 Supplemental cash flow information relating to operating activities Income distributions received, net of foreign withholding taxes, if applicable $9,175,093 $7,970,233 Interest received, net of foreign withholding taxes, if applicable — $380

1 Excludes in-kind transactions of $103,286,035 and $59,768,340 for the periods ended June 30, 2021 and 2020. 2 Excludes in-kind transactions of $7,514,118 and $53,368,604 for the periods ended June 30, 2021 and 2020.

The accompanying notes are an integral part of the financial statements.

242 Vanguard FTSE Global All Cap ex Canada Index ETF

Schedule of Investment Portfolio As at June 30, 2021 (unaudited)

Description Number of Units Cost ($) Fair Value ($) % of Net Assets Exchange-traded funds Vanguard Large-Cap ETF* 2,567,488 382,684,770 638,918,618 52.1 Vanguard FTSE Developed All Cap ex North America Index ETF* 11,110,043 311,706,484 356,076,878 29.1 Vanguard FTSE Emerging Markets ETF* 2,115,180 113,817,726 142,399,578 11.6 Vanguard Small-Cap ETF* 297,027 53,886,040 82,946,895 6.8 Total investments 862,095,020 1,220,341,969 99.6 Foreign currency contracts (Schedule 1) 1,117 0.0 Futures contracts (Schedule 2) 9,946 0.0 Other assets and liabilities (net) 4,625,163 0.4 Total net assets attributable to holders of redeemable units 1,224,978,195 100.0 * Affiliated fund. Refer to Note 10(b).

Schedule 1—Foreign Currency Contracts As at June 30, 2021 (unaudited)

Unrealized Appreciation Number of Settlement (Depreciation) Credit Contracts Contract Price Currency Sold Currency Bought Date ($) Rating* 1 CAD 1.239 Canadian Dollar 3,459,517 U.S. Dollar 2,791,734 Jul 02/21 1,117 AA- Unrealized appreciation of foreign currency contracts 1,117 Net unrealized appreciation of foreign currency contracts 1,117

* Sources: Standard & Poor’s and Fitch.

Schedule 2—Futures Contracts As at June 30, 2021 (unaudited)

Unrealized Appreciation Number of (Depreciation) Contracts Description Expiration Date Contract Value Notional Value ($) 16 S&P 500 Index E-mini Sep 17/21 USD 3,422,856 USD 3,430,880 9,946 Unrealized appreciation of futures contracts 9,946 Net unrealized appreciation of futures contracts 9,946

Fund-Specific Notes—Concentration Risk As at June 30, 2021 (unaudited), and December 31, 2020 % of net assets attributable to holders of redeemable units

June 30, December 31, Portfolio Allocation 2021 2020 Exchange-traded funds North America 58.9 58.0 Developed ex North America 29.1 30.0 Emerging Markets 11.6 12.0 Other assets and liabilities (net) 0.4 0.0 100.0 100.0

243 Vanguard Global Aggregate Bond Index ETF (CAD-hedged)

Statement of Financial Position As at June 30, 2021 (unaudited), and December 31, 2020

June 30, December 31, 2021 2020 Assets Current assets Investments $48,683,274 $42,477,320 Cash 5,628 34,066 Amounts receivable for investments sold 312,417 — Amounts receivable from manager 1,993 389 Income distributions receivable —85,166 Total assets 49,003,312 42,596,941 Liabilities Current liabilities Amounts payable for investments purchased 314,237 560,881 Distributions payable — 84,309 Total liabilities excluding net assets attributable to holders of redeemable units 314,237 645,190 Total net assets attributable to holders of redeemable units $48,689,075 $41,951,751 Number of redeemable units outstanding (Note 9) 1,930,000 1,620,000 Net assets attributable to holders of redeemable units per unit $25.23 $25.90

Statement of Comprehensive Income For the six months ended June 30, 2021, and June 30, 2020 (unaudited)

2021 2020* Income Net gain (loss) on investments Income distribution from underlying funds $256,471 $108,139 Net realized gain (loss) on sale of investments (339,365) (28,040) Change in unrealized appreciation/depreciation of investments (790,114) 358,041 Net gain (loss) on investments (873,008) 438,140 Total income (net) (873,008) 438,140 Expenses (Note 10) Management fees 3,210 2,413 Overdraft expenses 115 — Independent Review Committee fees 1,341 1,352 Total expenses 4,666 3,765 Expenses absorbed or waived by manager (1,341) (1,352) Net expenses 3,325 2,413 Increase (decrease) in net assets attributable to holders of redeemable units $(876,333) $435,727 Weighted average number of redeemable units 1,812,818 683,436 Increase (decrease) in net assets attributable to holders of redeemable units per unit $(0.48) $0.64

* The Fund commenced operations on January 17, 2020.

The accompanying notes are an integral part of the financial statements.

244 Vanguard Global Aggregate Bond Index ETF (CAD-hedged)

Statement of Changes in Net Assets Attributable to Holders of Redeemable Units For the six months ended June 30, 2021, and June 30, 2020 (unaudited)

2021 2020* Net assets attributable to holders of redeemable units, beginning of period $41,951,751 — Increase (decrease) in net assets attributable to holders of redeemable units $(876,333) $435,727 Distributions to holders of redeemable units Net investment income (252,943) (108,286) Return of capital — (431) Total distributions to holders of redeemable units (252,943) (106,717) Redeemable unit transactions Proceeds from issuance of redeemable units 20,290,571 26,124,034 Payment for redeemable units redeemed (12,423,971) (1,002,878) Net redeemable unit transactions 7,866,600 25,121,156 Net assets attributable to holders of redeemable units, end of period $48,689,075 $25,450,166

* The Fund commenced operations on January 17, 2020.

Statement of Cash Flows For the six months ended June 30, 2021, and June 30, 2020 (unaudited)

2021 2020* Cash flows from (used in) operating activities Increase (decrease) in net assets attributable to holders of redeemable units $(876,333) $435,727 Adjustments for: Net realized (gain) loss on sale of investments 339,365 28,040 Change in unrealized appreciation/depreciation of investments 790,114 (358,041) Purchase of investments1 (3,464,209) (3,017,428) 2 Proceeds from sale of investments 3,435,024 2,501,946 Change in working capital 83,562 560 Net cash from (used in) operating activities 307,523 (409,196) Cash flows from (used in) financing activities 1 Proceeds from issuance of redeemable units 45,969 517,782 Distributions to holders of redeemable units, net of reinvested distributions (337,252) (106,717) 2 Payment for redeemable units redeemed (44,678) (323) Net cash from (used in) financing activities (335,961) 410,742 Net increase (decrease) in cash during the period $(28,438) $1,546 Cash, beginning of period $34,066 — Cash, end of period $5,628 $1,546 Supplemental cash flow information relating to operating activities Income distributions received, net of foreign withholding taxes, if applicable $341,637 $108,139 Interest paid $115 —

* The Fund commenced operations on January 17, 2020. 1 Excludes in-kind transactions of $20,244,602 and $25,606,210 for the periods ended June 30, 2021 and 2020. 2 Excludes in-kind transactions of $12,379,293 and $1,002,555 for the periods ended June 30, 2021 and 2020.

The accompanying notes are an integral part of the financial statements.

245 Vanguard Global Aggregate Bond Index ETF (CAD-hedged)

Schedule of Investment Portfolio As at June 30, 2021 (unaudited)

Description Number of Units Cost ($) Fair Value ($) % of Net Assets Exchange-traded funds Vanguard Global ex-U.S. Aggregate Bond Index ETF (CAD-hedged)* 932,478 25,994,134 25,559,222 52.5 Vanguard U.S. Aggregate Bond Index ETF (CAD-hedged)* 890,414 23,591,699 23,124,052 47.5 Total investments 49,585,833 48,683,274 100.0 Other assets and liabilities (net) 5,801 0.0 Total net assets attributable to holders of redeemable units 48,689,075 100.0 * Affiliated fund. Refer to Note 10(b).

Fund-Specific Notes—Concentration Risk As at June 30, 2021 (unaudited), and December 31, 2020 % of net assets attributable to holders of redeemable units

June 30, December 31, Portfolio Allocation 2021 2020 Exchange-traded funds International Fixed Income 52.5 54.4 U.S. Fixed Income 47.5 46.9 Other assets and liabilities (net) 0.0 (1.3) 100.0 100.0

246 Vanguard Global ex-U.S. Aggregate Bond Index ETF (CAD-hedged)

Statement of Financial Position As at June 30, 2021 (unaudited), and December 31, 2020

June 30, December 31, 2021 2020 Assets Current assets Investments $579,500,575 $472,400,057 Cash 506,400 5,120,078 Amounts receivable for redeemable units issued 821,895 1,404,905 Amounts receivable for investments sold 14,522,226 — Income distributions receivable 17,638 889,124 Unrealized appreciation of foreign currency contracts 626,880 8,434,328 Total assets 595,995,614 488,248,492 Liabilities Current liabilities Amounts payable for investments purchased 822,406 13,636,339 Distributions payable — 786,324 Accrued expenses and other liabilities 139,674 59,246 Unrealized depreciation of foreign currency contracts 15,592,582 509,675 Total liabilities excluding net assets attributable to holders of redeemable units 16,554,662 14,991,584 Total net assets attributable to holders of redeemable units $579,440,952 $473,256,908 Number of redeemable units outstanding (Note 9) 21,150,000 16,840,000 Net assets attributable to holders of redeemable units per unit $27.40 $28.10

The accompanying notes are an integral part of the financial statements.

247 Vanguard Global ex-U.S. Aggregate Bond Index ETF (CAD-hedged)

Statement of Comprehensive Income For the six months ended June 30, 2021, and June 30, 2020 (unaudited)

2021 2020 Income Net gain (loss) on investments Interest for distribution purposes $111 $4,119 Income distribution from underlying funds 1,915,405 1,416,140 Net realized gain (loss) on sale of investments (1,198,256) 5,380,362 Change in unrealized appreciation/depreciation of investments (23,988,806) 17,849,927 Net gain (loss) on investments (23,271,546) 24,650,548 Net gain (loss) on derivatives Net realized gain (loss) on foreign currency contracts 35,479,135 (17,312,843) Change in unrealized appreciation/depreciation of foreign currency contracts (22,890,355) (900,222) Net gain (loss) on derivatives 12,588,780 (18,213,065) Net realized gain (loss) on foreign currency transactions 131,939 445,246 Change in unrealized appreciation/depreciation of foreign currency translations 1,912 (6,108) Total income (net) (10,548,915) 6,876,621 Expenses (Note 10) Management fees 788,561 522,031 Independent Review Committee fees 1,341 1,352 Foreign withholding taxes 185,237 213,128 Transaction costs (Note 3) 109 771 Total expenses 975,248 737,282 Expenses absorbed or waived by manager (1,341) (1,352) Net expenses 973,907 735,930 Increase (decrease) in net assets attributable to holders of redeemable units $(11,522,822) $6,140,691 Weighted average number of redeemable units 19,279,116 12,894,286 Increase (decrease) in net assets attributable to holders of redeemable units per unit $(0.60) $0.48

The accompanying notes are an integral part of the financial statements.

248 Vanguard Global ex-U.S. Aggregate Bond Index ETF (CAD-hedged)

Statement of Changes in Net Assets Attributable to Holders of Redeemable Units For the six months ended June 30, 2021, and June 30, 2020 (unaudited)

2021 2020 Net assets attributable to holders of redeemable units, beginning of period $473,256,908 $326,008,928 Increase (decrease) in net assets attributable to holders of redeemable units $(11,522,822) $6,140,691 Distributions to holders of redeemable units Net investment income (1,167,344) (743,974) Total distributions to holders of redeemable units (1,167,344) (743,974) Redeemable unit transactions Proceeds from issuance of redeemable units 142,104,075 81,118,227 Payment for redeemable units redeemed (23,229,865) (43,280,413) Net redeemable unit transactions 118,874,210 37,837,814 Net assets attributable to holders of redeemable units, end of period $579,440,952 $369,243,459

Statement of Cash Flows For the six months ended June 30, 2021, and June 30, 2020 (unaudited)

2021 2020 Cash flows from (used in) operating activities Increase (decrease) in net assets attributable to holders of redeemable units $(11,522,822) $6,140,691 Adjustments for: Net realized (gain) loss on sale of investments 1,198,256 (5,380,362) Change in unrealized appreciation/depreciation of investments 23,988,806 (17,849,927) Change in unrealized appreciation/depreciation of derivatives 22,890,355 900,222 Change in unrealized appreciation/depreciation of foreign currency translations (1,912) 6,108 1 Purchase of investments (42,602,756) (18,818,641) 2 Proceeds from sale of investments 1,878,948 35,326,767 Change in working capital 951,914 30,526 Net cash from (used in) operating activities (3,219,211) 355,384 Cash flows from (used in) financing activities 1 Proceeds from issuance of redeemable units 648,489 1,038,487 Distributions to holders of redeemable units, net of reinvested distributions (1,953,668) (7,153,811) 2 Payment for redeemable units redeemed (91,200) (563,633) Net cash from (used in) financing activities (1,396,379) (6,678,957) Change in unrealized appreciation/depreciation of foreign currency translations 1,912 (6,108) Net increase (decrease) in cash during the period $(4,613,678) $(6,329,681) Cash, beginning of period $5,120,078 $6,663,612 Cash, end of period $506,400 $333,931 Supplemental cash flow information relating to operating activities Income distributions received, net of foreign withholding taxes, if applicable $2,601,654 $1,189,791 Interest received, net of foreign withholding taxes, if applicable $111 $4,119

1 Excludes in-kind transactions of $142,038,596 and $80,087,254 for the periods ended June 30, 2021 and 2020. 2 Excludes in-kind transactions of $23,138,665 and $42,716,780 for the periods ended June 30, 2021 and 2020.

The accompanying notes are an integral part of the financial statements.

249 Vanguard Global ex-U.S. Aggregate Bond Index ETF (CAD-hedged)

Schedule of Investment Portfolio As at June 30, 2021 (unaudited)

Description Number of Units Cost ($) Fair Value ($) % of Net Assets Exchange-traded funds Vanguard Total International Bond ETF* 8,187,215 605,115,564 579,500,575 100.0 Total investments 605,115,564 579,500,575 100.0 Foreign currency contracts (Schedule 1) (14,965,702) (2.6) Other assets and liabilities (net) 14,906,079 2.6 Total net assets attributable to holders of redeemable units 579,440,952 100.0 * Affiliated fund. Refer to Note 10(b).

Schedule 1—Foreign Currency Contracts As at June 30, 2021 (unaudited)

Unrealized Appreciation Number of Settlement (Depreciation) Credit Contracts Contract Price Currency Sold Currency Bought Date ($) Rating* 1 CAD 1.238 Canadian Dollar 590,875,348 U.S. Dollar 477,166,557 Jul 02/21 620,316 AA- 1 CAD 1.211 Canadian Dollar 273,481 U.S. Dollar 225,768 Jul 02/21 6,381 A+ 1 USD 0.806 U.S. Dollar 242,548 Canadian Dollar 300,850 Aug 03/21 183 A+ 1 CAD 1.240 Canadian Dollar 13,909,240 U.S. Dollar 11,220,568 Aug 03/21 0 AA- 1 USD 0.807 U.S. Dollar 11,939,335 Canadian Dollar 14,800,000 Jul 02/21 0 AA- 1 CAD 1.240 Canadian Dollar 822,406 U.S. Dollar 663,445 Jul 06/21 0 AA- Unrealized appreciation of foreign currency contracts 626,880 1 USD 0.828 U.S. Dollar 455,736,623 Canadian Dollar 550,556,273 Jul 02/21 (14,374,844) AA- 1 USD 0.808 U.S. Dollar 477,166,557 Canadian Dollar 590,884,891 Aug 03/21 (620,317) AA- 1 USD 0.828 U.S. Dollar 7,614,172 Canadian Dollar 9,198,239 Jul 02/21 (240,288) A+ 1 USD 0.827 U.S. Dollar 3,596,739 Canadian Dollar 4,350,209 Jul 02/21 (108,309) A+ 1 USD 0.828 U.S. Dollar 2,894,166 Canadian Dollar 3,496,870 Jul 02/21 (90,738) AA- 1 USD 0.828 U.S. Dollar 1,587,353 Canadian Dollar 1,917,291 Jul 02/21 (50,392) AA- 1 USD 0.831 U.S. Dollar 900,914 Canadian Dollar 1,084,126 Jul 02/21 (32,647) AA- 1 USD 0.832 U.S. Dollar 382,834 Canadian Dollar 460,131 Jul 02/21 (14,430) AA- 1 USD 0.828 U.S. Dollar 448,181 Canadian Dollar 541,442 Jul 02/21 (14,123) AA- 1 USD 0.823 U.S. Dollar 448,728 Canadian Dollar 544,921 Jul 02/21 (11,322) AA- 1 USD 0.820 U.S. Dollar 448,610 Canadian Dollar 546,761 Jul 02/21 (9,336) AA- 1 USD 0.828 U.S. Dollar 224,090 Canadian Dollar 270,487 Jul 02/21 (7,295) A+ 1 USD 0.812 U.S. Dollar 663,089 Canadian Dollar 816,420 Jul 02/21 (5,545) AA- 1 USD 0.809 U.S. Dollar 1,341,394 Canadian Dollar 1,657,817 Jul 02/21 (4,975) AA- 1 USD 0.813 U.S. Dollar 439,473 Canadian Dollar 540,407 Jul 02/21 (4,364) AA- 1 USD 0.810 U.S. Dollar 665,959 Canadian Dollar 822,071 Jul 02/21 (3,451) AA- 1 CAD 1.240 Canadian Dollar 325,000 U.S. Dollar 262,029 Jul 02/21 (189) A+ 1 USD 0.807 U.S. Dollar 662,189 Canadian Dollar 820,846 Aug 03/21 (17) AA- Unrealized depreciation of foreign currency contracts (15,592,582) Net unrealized depreciation of foreign currency contracts (14,965,702)

* Sources: Standard & Poor’s and Fitch.

250 Vanguard Global ex-U.S. Aggregate Bond Index ETF (CAD-hedged)

Fund-Specific Notes—Concentration Risk As at June 30, 2021 (unaudited), and December 31, 2020 % of net assets attributable to holders of redeemable units

June 30, December 31, Sector Allocation 2021 2020 Underlying U.S.-domiciled Vanguard Fund Foreign Government 78.0 77.5 Industrial 6.4 6.6 Finance 6.0 7.8 Asset-Backed 4.6 — Other 1. 4 4. 8 Utilities 1. 4 1. 4 Other assets and liabilities (net) 2.2 1.9 100.0 100.0

% of investment portfolio

June 30, December 31, Market Allocation 2021 2020 Underlying U.S.-domiciled Vanguard Fund Japan 16.7 16.9 France 12.1 12.1 Germany 10.3 9.7 Italy 8.1 7.6 United Kingdom 7. 4 7. 1 Canada 6.0 5.7 Spain 5.7 5.4 Supranational 3.7 2.7 Australia 3.4 3.1 United States 3.2 4.3 South Korea 2.8 2.7 Netherlands 2.8 4.1 Belgium 2.1 2.2 Austria 1. 5 1. 3 Switzerland 1. 4 1. 2 Sweden 1. 3 1. 4 Other 11.5 12.5 100.0 100.0

251 Vanguard S&P 500 Index ETF

Statement of Financial Position As at June 30, 2021 (unaudited), and December 31, 2020

June 30, December 31, 2021 2020 Assets Current assets Investments $5,000,727,232 $3,687,743,705 Cash 1,476,791 13,013,372 Amounts receivable for redeemable units issued 35,852,175 10,998,537 Margin due from brokers 63,593 71,019 Income distributions receivable 14,294,092 — Unrealized appreciation of foreign currency contracts 9,738 27,177 Unrealized appreciation of futures contracts 16,107 25,753 Total assets 5,052,439,728 3,711,879,563 Liabilities Current liabilities Amounts payable for investments purchased 35,840,846 10,978,832 Distributions payable 13,637,113 11,128,951 Accrued expenses and other liabilities 146,828 45,419 Unrealized depreciation of foreign currency contracts 4,592 16,215 Total liabilities excluding net assets attributable to holders of redeemable units 49,629,379 22,169,417 Total net assets attributable to holders of redeemable units $5,002,810,349 $3,689,710,146 Number of redeemable units outstanding (Note 9) 52,970,000 43,550,000 Net assets attributable to holders of redeemable units per unit $94.45 $84.72

The accompanying notes are an integral part of the financial statements.

252 Vanguard S&P 500 Index ETF

Statement of Comprehensive Income For the six months ended June 30, 2021, and June 30, 2020 (unaudited)

2021 2020 Income Net gain (loss) on investments Interest for distribution purposes $102 $4,735 Income distribution from underlying funds 30,902,878 26,926,424 Net realized gain (loss) on sale of investments 31,100,043 52,287,394 Change in unrealized appreciation/depreciation of investments 444,159,781 (61,331,266) Net gain (loss) on investments 506,162,804 17,887,287 Net gain (loss) on derivatives Net realized gain (loss) on foreign currency contracts (172,925) (327,818) Net realized gain (loss) on futures contracts 201,978 — Change in unrealized appreciation/depreciation of foreign currency contracts (5,816) 6,120 Change in unrealized appreciation/depreciation of futures contracts (9,646) — Net gain (loss) on derivatives 13,591 (321,698) Net realized gain (loss) on foreign currency transactions 519,463 236,809 Change in unrealized appreciation/depreciation of foreign currency translations 94,515 16,645 Total income (net) 506,790,373 17,819,043 Expenses (Note 10) Management fees 1,184,258 760,779 Overdraft expenses 275 — Independent Review Committee fees 1,341 1,352 Foreign withholding taxes 4,703,750 4,014,245 Transaction costs (Note 3) 45 56 Total expenses 5,889,669 4,776,432 Expenses absorbed or waived by manager (1,341) (1,352) Net expenses 5,888,328 4,775,080 Increase (decrease) in net assets attributable to holders of redeemable units $500,902,045 $13,043,963 Weighted average number of redeemable units 48,227,680 38,043,791 Increase (decrease) in net assets attributable to holders of redeemable units per unit $10.39 $0.34

The accompanying notes are an integral part of the financial statements.

253 Vanguard S&P 500 Index ETF

Statement of Changes in Net Assets Attributable to Holders of Redeemable Units For the six months ended June 30, 2021, and June 30, 2020 (unaudited)

2021 2020 Net assets attributable to holders of redeemable units, beginning of period $3,689,710,146 $2,711,653,435 Increase (decrease) in net assets attributable to holders of redeemable units $500,902,045 $13,043,963 Distributions to holders of redeemable units Net investment income (26,426,086) (23,319,952) Total distributions to holders of redeemable units (26,426,086) (23,319,952) Redeemable unit transactions Proceeds from issuance of redeemable units 949,559,114 508,129,990 Payment for redeemable units redeemed (110,934,870) (371,374,552) Net redeemable unit transactions 838,624,244 136,755,438 Net assets attributable to holders of redeemable units, end of period $5,002,810,349 $2,838,132,884

Statement of Cash Flows For the six months ended June 30, 2021, and June 30, 2020 (unaudited)

2021 2020 Cash flows from (used in) operating activities Increase (decrease) in net assets attributable to holders of redeemable units $500,902,045 $13,043,963 Adjustments for: Net realized (gain) loss on sale of investments (31,100,043) (52,287,394) Change in unrealized appreciation/depreciation of investments (444,159,781) 61,331,266 Change in unrealized appreciation/depreciation of derivatives 15,462 (6,120) Change in unrealized appreciation/depreciation of foreign currency translations (94,515) (16,645) 1 Purchase of investments (0) (6,698,951) 2 Proceeds from sale of investments 691,599 19,638,823 Change in working capital (14,185,257) (12,169,020) Net cash from (used in) operating activities 12,069,510 22,835,922 Cash flows from (used in) financing activities 1 Proceeds from issuance of redeemable units 240,549 6,818,204 Distributions to holders of redeemable units, net of reinvested distributions (23,917,924) (20,523,184) 2 Payment for redeemable units redeemed (23,231) (9,783,013) Net cash from (used in) financing activities (23,700,606) (23,487,993) Change in unrealized appreciation/depreciation of foreign currency translations 94,515 16,645 Net increase (decrease) in cash during the period $(11,536,581) $(635,426) Cash, beginning of period $13,013,372 $1,103,782 Cash, end of period $1,476,791 $468,356 Supplemental cash flow information relating to operating activities Income distributions received, net of foreign withholding taxes, if applicable $11,905,036 $10,699,252 Interest received, net of foreign withholding taxes, if applicable $102 $4,735 Interest paid $275 —

1 Excludes in-kind transactions of $924,464,927 and $501,310,660 for the periods ended June 30, 2021 and 2020. 2 Excludes in-kind transactions of $110,911,639 and $361,586,874 for the periods ended June 30, 2021 and 2020.

The accompanying notes are an integral part of the financial statements.

254 Vanguard S&P 500 Index ETF

Schedule of Investment Portfolio As at June 30, 2021 (unaudited)

Description Number of Units Cost ($) Fair Value ($) % of Net Assets Exchange-traded funds Vanguard S&P 500 ETF* 10,251,438 3,547,462,139 5,000,727,232 100.0 Total investments 3,547,462,139 5,000,727,232 100.0 Foreign currency contracts (Schedule 1) 5,146 0.0 Futures contracts (Schedule 2) 16,107 0.0 Other assets and liabilities (net) 2,061,864 0.0 Total net assets attributable to holders of redeemable units 5,002,810,349 100.0 * Affiliated fund. Refer to Note 10(b).

Schedule 1—Foreign Currency Contracts As at June 30, 2021 (unaudited)

Unrealized Appreciation Number of Settlement (Depreciation) Credit Contracts Contract Price Currency Sold Currency Bought Date ($) Rating* 1 CAD 1.239 Canadian Dollar 30,167,663 U.S. Dollar 24,344,467 Jul 02/21 9,738 AA- 1 CAD 1.240 Canadian Dollar 2,831,722 U.S. Dollar 2,284,383 Jul 06/21 0 AA- 1 CAD 1.240 Canadian Dollar 2,831,722 U.S. Dollar 2,284,384 Jul 06/21 0 AA- Unrealized appreciation of foreign currency contracts 9,738 1 USD 0.807 U.S. Dollar 11,136,328 Canadian Dollar 13,800,000 Jul 02/21 (4,592) A+ Unrealized depreciation of foreign currency contracts (4,592) Net unrealized appreciation of foreign currency contracts 5,146

* Sources: Standard & Poor’s and Fitch.

Schedule 2—Futures Contracts As at June 30, 2021 (unaudited)

Unrealized Appreciation Number of (Depreciation) Contracts Description Expiration Date Contract Value Notional Value ($) 5 S&P 500 Index E-mini Sep 17/21 USD 1,059,156 USD 1,072,150 16,107 Unrealized appreciation of futures contracts 16,107 Net unrealized appreciation of futures contracts 16,107

255 Vanguard S&P 500 Index ETF

Fund-Specific Notes—Concentration Risk As at June 30, 2021 (unaudited), and December 31, 2020 % of net assets attributable to holders of redeemable units

June 30, December 31, Sector Allocation 2021 2020 Underlying U.S.-domiciled Vanguard Fund Information Technology 27.3 27.5 Health Care 13.0 13.4 Consumer Discretionary 12.3 12.7 Financials 11.2 10.4 Communication Services 11.1 10.7 Industrials 8.5 8.4 Consumer Staples 5.8 6.5 Energy 2.8 2.3 Materials 2.6 2.6 Real Estate 2.6 2.4 Utilities 2.4 2.7 Other assets and liabilities (net) 0.4 0.4 100.0 100.0

256 Vanguard S&P 500 Index ETF (CAD-hedged)

Statement of Financial Position As at June 30, 2021 (unaudited), and December 31, 2020

June 30, December 31, 2021 2020 Assets Current assets Investments $1,774,101,775 $1,436,083,569 Cash 2,990,706 5,670,416 Amounts receivable for redeemable units issued 7,900,398 — Amounts receivable for investments sold 43,695,900 — Margin due from brokers 56,006 127,615 Income distributions receivable 5,207,618 — Unrealized appreciation of foreign currency contracts 133,606 23,453,341 Unrealized appreciation of futures contracts 16,090 21,479 Total assets 1,834,102,099 1,465,356,420 Liabilities Current liabilities Amounts payable for investments purchased 8,960,459 22,690,765 Distributions payable 5,014,685 4,215,110 Accrued expenses and other liabilities 55,040 19,305 Unrealized depreciation of foreign currency contracts 43,693,473 533,770 Total liabilities excluding net assets attributable to holders of redeemable units 57,723,657 27,458,950 Total net assets attributable to holders of redeemable units $1,776,378,442 $1,437,897,470 Number of redeemable units outstanding (Note 9) 24,710,000 22,860,000 Net assets attributable to holders of redeemable units per unit $71.89 $62.90

The accompanying notes are an integral part of the financial statements.

257 Vanguard S&P 500 Index ETF (CAD-hedged)

Statement of Comprehensive Income For the six months ended June 30, 2021, and June 30, 2020 (unaudited)

2021 2020 Income Net gain (loss) on investments Interest for distribution purposes $271 $3,109 Income distribution from underlying funds 11,342,171 11,160,690 Net realized gain (loss) on sale of investments 40,237,894 25,562,834 Change in unrealized appreciation/depreciation of investments 132,946,953 17,223,055 Net gain (loss) on investments 184,527,289 53,949,688 Net gain (loss) on derivatives Net realized gain (loss) on foreign currency contracts 105,940,279 (41,159,069) Net realized gain (loss) on futures contracts 174,723 — Change in unrealized appreciation/depreciation of foreign currency contracts (66,479,438) (4,034,575) Change in unrealized appreciation/depreciation of futures contracts (5,389) — Net gain (loss) on derivatives 39,630,175 (45,193,644) Net realized gain (loss) on foreign currency transactions 396,260 (1,537,875) Change in unrealized appreciation/depreciation of foreign currency translations 36,055 (20,291) Total income (net) 224,589,779 7,197,878 Expenses (Note 10) Management fees 443,944 319,060 Overdraft expenses —2,608 Independent Review Committee fees 1,341 1,352 Foreign withholding taxes 1,727,594 1,652,351 Transaction costs (Note 3) 2,129 5,165 Total expenses 2,175,008 1,980,536 Expenses absorbed or waived by manager (1,341) (1,352) Net expenses 2,173,667 1,979,184 Increase (decrease) in net assets attributable to holders of redeemable units $222,416,112 $5,218,694 Weighted average number of redeemable units 23,691,768 22,774,945 Increase (decrease) in net assets attributable to holders of redeemable units per unit $9.39 $0.23

The accompanying notes are an integral part of the financial statements.

258 Vanguard S&P 500 Index ETF (CAD-hedged)

Statement of Changes in Net Assets Attributable to Holders of Redeemable Units For the six months ended June 30, 2021, and June 30, 2020 (unaudited)

2021 2020 Net assets attributable to holders of redeemable units, beginning of period $1,437,897,470 $1,030,535,543 Increase (decrease) in net assets attributable to holders of redeemable units $222,416,112 $5,218,694 Distributions to holders of redeemable units Net investment income (9,796,915) (9,643,224) Total distributions to holders of redeemable units (9,796,915) (9,643,224) Redeemable unit transactions Proceeds from issuance of redeemable units 244,981,832 398,089,149 Payment for redeemable units redeemed (119,120,057) (100,053,655) Net redeemable unit transactions 125,861,775 298,035,494 Net assets attributable to holders of redeemable units, end of period $1,776,378,442 $1,324,146,507

Statement of Cash Flows For the six months ended June 30, 2021, and June 30, 2020 (unaudited)

2021 2020 Cash flows from (used in) operating activities Increase (decrease) in net assets attributable to holders of redeemable units $222,416,112 $5,218,694 Adjustments for: Net realized (gain) loss on sale of investments (40,237,894) (25,562,834) Change in unrealized appreciation/depreciation of investments (132,946,953) (17,223,055) Change in unrealized appreciation/depreciation of derivatives 66,484,827 4,034,575 Change in unrealized appreciation/depreciation of foreign currency translations (36,055) 20,291 1 Purchase of investments (109,974,365) (59,148,900) 2 Proceeds from sale of investments 4,149,021 113,289,882 Change in working capital (5,100,274) (5,605,437) Net cash from (used in) operating activities 4,754,419 15,023,216 Cash flows from (used in) financing activities 1 Proceeds from issuance of redeemable units 1,522,744 1,215,127 Distributions to holders of redeemable units, net of reinvested distributions (8,997,340) (7,468,579) 2 Payment for redeemable units redeemed 4,412 (9,382,922) Net cash from (used in) financing activities (7,470,184) (15,636,374) Change in unrealized appreciation/depreciation of foreign currency translations 36,055 (20,291) Net increase (decrease) in cash during the period $(2,679,710) $(633,449) Cash, beginning of period $5,670,416 $802,389 Cash, end of period $2,990,706 $168,940 Supplemental cash flow information relating to operating activities Income distributions received, net of foreign withholding taxes, if applicable $4,406,959 $3,872,461 Interest received, net of foreign withholding taxes, if applicable $271 $3,109 Interest paid — $2,608

1 Excludes in-kind transactions of $235,558,690 and $396,903,827 for the periods ended June 30, 2021 and 2020. 2 Excludes in-kind transactions of $119,124,469 and $90,560,646 for the periods ended June 30, 2021 and 2020.

The accompanying notes are an integral part of the financial statements.

259 Vanguard S&P 500 Index ETF (CAD-hedged)

Schedule of Investment Portfolio As at June 30, 2021 (unaudited)

Description Number of Units Cost ($) Fair Value ($) % of Net Assets Exchange-traded funds Vanguard S&P 500 ETF* 3,640,708 1,319,897,238 1,774,101,775 99.9 Total investments 1,319,897,238 1,774,101,775 99.9 Foreign currency contracts (Schedule 1) (43,559,867) (2.5) Futures contracts (Schedule 2) 16,090 0.0 Other assets and liabilities (net) 45,820,444 2.6 Total net assets attributable to holders of redeemable units 1,776,378,442 100.0 * Affiliated fund. Refer to Note 10(b).

Schedule 1—Foreign Currency Contracts As at June 30, 2021 (unaudited)

Unrealized Appreciation Number of Settlement (Depreciation) Credit Contracts Contract Price Currency Sold Currency Bought Date ($) Rating* 1 CAD 1.232 Canadian Dollar 19,871,531 U.S. Dollar 16,132,380 Jul 02/21 105,195 AA- 1 CAD 1.220 Canadian Dollar 713,725 U.S. Dollar 585,185 Jul 02/21 10,910 AA- 1 CAD 1.208 Canadian Dollar 348,568 U.S. Dollar 288,503 Jul 02/21 8,686 A+ 1 CAD 1.234 Canadian Dollar 717,842 U.S. Dollar 581,843 Jul 02/21 2,655 AA- 1 USD 0.807 U.S. Dollar 3,500,000 Canadian Dollar 4,336,524 Jul 02/21 2,475 A+ 1 USD 0.807 U.S. Dollar 2,312,447 Canadian Dollar 2,865,074 Jul 02/21 1,570 AA- 1 USD 0.806 U.S. Dollar 809,936 Canadian Dollar 1,004,507 Aug 03/21 1,547 A+ 1 USD 0.807 U.S. Dollar 2,253,084 Canadian Dollar 2,790,561 Jul 02/21 568 A+ 1 USD 0.808 U.S. Dollar 36,015,815 Canadian Dollar 44,598,384 Jul 02/21 0 AA- Unrealized appreciation of foreign currency contracts 133,606 1 USD 0.828 U.S. Dollar 1,406,258,840 Canadian Dollar 1,698,842,241 Jul 02/21 (42,528,080) AA- 1 USD 0.828 U.S. Dollar 22,949,700 Canadian Dollar 27,724,202 Jul 02/21 (694,412) A+ 1 USD 0.827 U.S. Dollar 5,819,578 Canadian Dollar 7,034,776 Jul 02/21 (171,607) AA- 1 USD 0.821 U.S. Dollar 5,794,777 Canadian Dollar 7,057,378 Jul 02/21 (118,295) AA- 1 USD 0.824 U.S. Dollar 2,904,555 Canadian Dollar 3,524,471 Jul 02/21 (72,239) AA- 1 USD 0.828 U.S. Dollar 1,716,825 Canadian Dollar 2,073,996 Jul 02/21 (51,948) A+ 1 USD 0.832 U.S. Dollar 1,164,174 Canadian Dollar 1,399,230 Jul 02/21 (42,367) AA- 1 USD 0.808 U.S. Dollar 1,433,586,068 Canadian Dollar 1,775,228,264 Aug 03/21 (10,035) AA- 1 CAD 1.239 Canadian Dollar 7,219,196 U.S. Dollar 5,826,631 Jul 02/21 (4,079) AA- 1 CAD 1.239 Canadian Dollar 721,920 U.S. Dollar 582,663 Jul 02/21 (408) AA- 1 CAD 1.238 Canadian Dollar 3,914,971 U.S. Dollar 3,161,515 Aug 03/21 (3) AA- 1 CAD 1.238 Canadian Dollar 1,775,209,627 U.S. Dollar 1,433,586,067 Jul 02/21 (0) AA- Unrealized depreciation of foreign currency contracts (43,693,473) Net unrealized depreciation of foreign currency contracts (43,559,867)

* Sources: Standard & Poor’s and Fitch.

Schedule 2—Futures Contracts As at June 30, 2021 (unaudited)

Unrealized Appreciation Number of (Depreciation) Contracts Description Expiration Date Contract Value Notional Value ($) 5 S&P 500 Index E-mini Sep 17/21 USD 1,059,156 USD 1,072,150 16,090 Unrealized appreciation of futures contracts 16,090 Net unrealized appreciation of futures contracts 16,090

260 Vanguard S&P 500 Index ETF (CAD-hedged)

Fund-Specific Notes—Concentration Risk As at June 30, 2021 (unaudited), and December 31, 2020 % of net assets attributable to holders of redeemable units

June 30, December 31, Sector Allocation 2021 2020 Underlying U.S.-domiciled Vanguard Fund Information Technology 27.3 27.5 Health Care 13.0 13.4 Consumer Discretionary 12.3 12.7 Financials 11.2 10.4 Communication Services 11.1 10.7 Industrials 8.5 8.4 Consumer Staples 5.8 6.5 Energy 2.8 2.3 Materials 2.6 2.6 Real Estate 2.6 2.4 Utilities 2.4 2.7 Other assets and liabilities (net) 0.4 0.4 100.0 100.0

261 Vanguard U.S. Aggregate Bond Index ETF (CAD-hedged)

Statement of Financial Position As at June 30, 2021 (unaudited), and December 31, 2020

June 30, December 31, 2021 2020 Assets Current assets Investments $728,575,957 $661,329,075 Cash 593,777 11,802,383 Amounts receivable for redeemable units issued 4,672,368 4,268,015 Amounts receivable for investments sold 37,524,029 — Income distributions receivable 888,669 2,517,598 Unrealized appreciation of foreign currency contracts 1,042,780 11,790,789 Other assets —357 Total assets 773,297,580 691,708,217 Liabilities Current liabilities Amounts payable for redeemable units redeemed 18,416,761 — Amounts payable for investments purchased 4,676,129 25,077,296 Distributions payable — 1,649,956 Accrued expenses and other liabilities 102,401 44,158 Unrealized depreciation of foreign currency contracts 20,688,424 744,958 Total liabilities excluding net assets attributable to holders of redeemable units 43,883,715 27,516,368 Total net assets attributable to holders of redeemable units $729,413,865 $664,191,849 Number of redeemable units outstanding (Note 9) 28,100,000 24,890,000 Net assets attributable to holders of redeemable units per unit $25.96 $26.69

The accompanying notes are an integral part of the financial statements.

262 Vanguard U.S. Aggregate Bond Index ETF (CAD-hedged)

Statement of Comprehensive Income For the six months ended June 30, 2021, and June 30, 2020 (unaudited)

2021 2020 Income Net gain (loss) on investments Interest for distribution purposes $20,133 $3,020 Income distribution from underlying funds 6,120,410 5,949,261 Net realized gain (loss) on sale of investments (4,758,468) 14,144,191 Change in unrealized appreciation/depreciation of investments (30,019,548) 43,967,098 Net gain (loss) on investments (28,637,473) 64,063,570 Net gain (loss) on derivatives Net realized gain (loss) on foreign currency contracts 47,965,187 (29,123,683) Change in unrealized appreciation/depreciation of foreign currency contracts (30,691,475) (1,502,226) Net gain (loss) on derivatives 17,273,712 (30,625,909) Net realized gain (loss) on foreign currency transactions (36,396) 589,370 Change in unrealized appreciation/depreciation of foreign currency translations 88,696 36,351 Total income (net) (11,311,461) 34,063,382 Expenses (Note 10) Management fees 672,692 537,808 Independent Review Committee fees 1,341 1,352 Foreign withholding taxes —77,852 Transaction costs (Note 3) 157 1,298 Total expenses 674,190 618,310 Expenses absorbed or waived by manager (1,341) (1,352) Net expenses 672,849 616,958 Increase (decrease) in net assets attributable to holders of redeemable units $(11,984,310) $33,446,424 Weighted average number of redeemable units 27,554,144 22,104,780 Increase (decrease) in net assets attributable to holders of redeemable units per unit $(0.43) $1.51

The accompanying notes are an integral part of the financial statements.

263 Vanguard U.S. Aggregate Bond Index ETF (CAD-hedged)

Statement of Changes in Net Assets Attributable to Holders of Redeemable Units For the six months ended June 30, 2021, and June 30, 2020 (unaudited)

2021 2020 Net assets attributable to holders of redeemable units, beginning of period $664,191,849 $538,359,711 Increase (decrease) in net assets attributable to holders of redeemable units $(11,984,310) $33,446,424 Distributions to holders of redeemable units Net investment income (6,562,040) (6,215,922) Total distributions to holders of redeemable units (6,562,040) (6,215,922) Redeemable unit transactions Proceeds from issuance of redeemable units 222,377,455 120,639,373 Payment for redeemable units redeemed (138,609,089) (87,861,120) Net redeemable unit transactions 83,768,366 32,778,253 Net assets attributable to holders of redeemable units, end of period $729,413,865 $598,368,466

Statement of Cash Flows For the six months ended June 30, 2021, and June 30, 2020 (unaudited)

2021 2020 Cash flows from (used in) operating activities Increase (decrease) in net assets attributable to holders of redeemable units $(11,984,310) $33,446,424 Adjustments for: Net realized (gain) loss on sale of investments 4,758,468 (14,144,191) Change in unrealized appreciation/depreciation of investments 30,019,548 (43,967,098) Change in unrealized appreciation/depreciation of derivatives 30,691,475 1,502,226 Change in unrealized appreciation/depreciation of foreign currency translations (88,696) (36,351) 1 Purchase of investments (63,784,631) (30,399,286) 2 Proceeds from sale of investments 4,917,151 59,439,499 Change in working capital 1,687,529 679,890 Net cash from (used in) operating activities (3,783,466) 6,521,113 Cash flows from (used in) financing activities 1 Proceeds from issuance of redeemable units 1,057,398 567,060 Distributions to holders of redeemable units, net of reinvested distributions (8,211,996) (7,094,243) 2 Payment for redeemable units redeemed (359,238) (777,216) Net cash from (used in) financing activities (7,513,836) (7,304,399) Change in unrealized appreciation/depreciation of foreign currency translations 88,696 36,351 Net increase (decrease) in cash during the period $(11,208,606) $(746,935) Cash, beginning of period $11,802,383 $1,401,816 Cash, end of period $593,777 $654,881 Supplemental cash flow information relating to operating activities Income distributions received, net of foreign withholding taxes, if applicable $7,749,339 $6,510,010 Interest received, net of foreign withholding taxes, if applicable $20,133 $3,020

1 Excludes in-kind transactions of $220,915,704 and $120,175,084 for the periods ended June 30, 2021 and 2020. 2 Excludes in-kind transactions of $119,833,090 and $87,083,904 for the periods ended June 30, 2021 and 2020.

The accompanying notes are an integral part of the financial statements.

264 Vanguard U.S. Aggregate Bond Index ETF (CAD-hedged)

Schedule of Investment Portfolio As at June 30, 2021 (unaudited)

Description Number of Units Cost ($) Fair Value ($) % of Net Assets Exchange-traded funds Vanguard Total Bond Market ETF* 6,843,065 752,552,679 728,575,957 99.9 Total investments 752,552,679 728,575,957 99.9 Foreign currency contracts (Schedule 1) (19,645,644) (2.7) Other assets and liabilities (net) 20,483,552 2.8 Total net assets attributable to holders of redeemable units 729,413,865 100.0 * Affiliated fund. Refer to Note 10(b).

Schedule 1—Foreign Currency Contracts As at June 30, 2021 (unaudited)

Unrealized Appreciation Number of Settlement (Depreciation) Credit Contracts Contract Price Currency Sold Currency Bought Date ($) Rating* 1 CAD 1.238 Canadian Dollar 755,907,539 U.S. Dollar 610,439,747 Jul 02/21 793,571 AA- 1 CAD 1.209 Canadian Dollar 5,403,407 U.S. Dollar 4,467,520 Jul 02/21 134,531 A+ 1 CAD 1.234 Canadian Dollar 24,637,916 U.S. Dollar 19,959,139 Jul 02/21 103,432 AA- 1 CAD 1.239 Canadian Dollar 18,362,655 U.S. Dollar 14,817,710 Aug 03/21 5,675 AA- 1 CAD 1.202 Canadian Dollar 169,630 U.S. Dollar 141,134 Jul 02/21 5,320 AA- 1 USD 0.806 U.S. Dollar 333,216 Canadian Dollar 413,312 Aug 03/21 251 A+ 1 CAD 1.240 Canadian Dollar 14,493,238 U.S. Dollar 11,691,678 Aug 03/21 0 AA- 1 USD 0.807 U.S. Dollar 15,650,210 Canadian Dollar 19,400,000 Jul 02/21 0 AA- Unrealized appreciation of foreign currency contracts 1,042,780 1 USD 0.828 U.S. Dollar 608,944,230 Canadian Dollar 735,639,949 Jul 02/21 (19,207,318) AA- 1 USD 0.808 U.S. Dollar 610,439,747 Canadian Dollar 755,919,748 Aug 03/21 (793,572) AA- 1 USD 0.828 U.S. Dollar 11,317,254 Canadian Dollar 13,671,718 Jul 02/21 (357,150) A+ 1 USD 0.828 U.S. Dollar 1,925,981 Canadian Dollar 2,326,304 Jul 02/21 (61,142) AA- 1 USD 0.828 U.S. Dollar 1,618,811 Canadian Dollar 1,953,978 Jul 02/21 (52,700) A+ 1 USD 0.828 U.S. Dollar 1,273,741 Canadian Dollar 1,538,995 Jul 02/21 (39,934) AA- 1 USD 0.816 U.S. Dollar 2,537,800 Canadian Dollar 3,109,787 Jul 02/21 (36,070) AA- 1 USD 0.831 U.S. Dollar 850,588 Canadian Dollar 1,023,565 Jul 02/21 (30,824) AA- 1 USD 0.828 U.S. Dollar 842,367 Canadian Dollar 1,017,653 Jul 02/21 (26,545) AA- 1 USD 0.822 U.S. Dollar 1,058,888 Canadian Dollar 1,287,647 Jul 02/21 (24,951) AA- 1 USD 0.820 U.S. Dollar 1,058,961 Canadian Dollar 1,290,650 Jul 02/21 (22,038) AA- 1 USD 0.823 U.S. Dollar 636,344 Canadian Dollar 772,757 Jul 02/21 (16,056) AA- 1 USD 0.809 U.S. Dollar 2,320,658 Canadian Dollar 2,868,080 Jul 02/21 (8,607) AA- 1 USD 0.812 U.S. Dollar 621,917 Canadian Dollar 765,727 Jul 02/21 (5,201) AA- 1 USD 0.807 U.S. Dollar 12,622,160 Canadian Dollar 15,641,380 Jul 02/21 (5,049) AA- 1 USD 0.807 U.S. Dollar 2,103,693 Canadian Dollar 2,606,897 Jul 02/21 (842) AA- 1 CAD 1.240 Canadian Dollar 425,000 U.S. Dollar 342,654 Jul 02/21 (247) A+ 1 USD 0.807 U.S. Dollar 3,769,349 Canadian Dollar 4,672,466 Aug 03/21 (94) AA- 1 USD 0.807 U.S. Dollar 210,369 Canadian Dollar 260,690 Jul 02/21 (84) AA- 1 CAD 1.240 Canadian Dollar 3,636,989 U.S. Dollar 2,934,002 Jul 06/21 (0) AA- 1 CAD 1.240 Canadian Dollar 1,039,140 U.S. Dollar 838,286 Jul 06/21 (0) AA- Unrealized depreciation of foreign currency contracts (20,688,424) Net unrealized depreciation of foreign currency contracts (19,645,644)

* Sources: Standard & Poor’s and Fitch.

265 Vanguard U.S. Aggregate Bond Index ETF (CAD-hedged)

Fund-Specific Notes—Concentration Risk As at June 30, 2021 (unaudited), and December 31, 2020 % of net assets attributable to holders of redeemable units

June 30, December 31, Sector Allocation 2021 2020 Underlying U.S.-domiciled Vanguard Fund Treasury/Agency 43.0 42.5 Government Mortgage-backed 20.6 20.7 Industrial 17.6 18.3 Finance 8.8 9.0 Foreign Government 4.0 5.1 Utilities 2.3 2.4 Commercial Mortgage-backed 2.3 2.2 Other 0.8 0.1 Asset-backed 0.3 0.3 Other assets and liabilities (net) 0.3 (0.6) 100.0 100.0

266 Vanguard U.S. Dividend Appreciation Index ETF

Statement of Financial Position As at June 30, 2021 (unaudited), and December 31, 2020

June 30, December 31, 2021 2020 Assets Current assets Investments $845,217,744 $757,351,868 Cash 626,285 423,737 Amounts receivable for redeemable units issued — 1,837,236 Amounts receivable for investments sold — 2,088,464 Unrealized appreciation of foreign currency contracts —5,737 Total assets 845,844,029 761,707,042 Liabilities Current liabilities Amounts payable for investments purchased — 1,836,666 Distributions payable — 2,280,294 Accrued expenses and other liabilities 96,198 36,078 Total liabilities excluding net assets attributable to holders of redeemable units 96,198 4,153,038 Total net assets attributable to holders of redeemable units $845,747,831 $757,554,004 Number of redeemable units outstanding (Note 9) 12,940,000 12,370,000 Net assets attributable to holders of redeemable units per unit $65.36 $61.24

Statement of Comprehensive Income For the six months ended June 30, 2021, and June 30, 2020 (unaudited)

2021 2020 Income Net gain (loss) on investments Interest for distribution purposes —$748 Income distribution from underlying funds $6,334,437 6,062,172 Net realized gain (loss) on sale of investments 9,644,732 9,700,273 Change in unrealized appreciation/depreciation of investments 42,992,786 (23,410,774) Net gain (loss) on investments 58,971,955 (7,647,581) Net gain (loss) on derivatives Net realized gain (loss) on foreign currency contracts (65,448) 1,485,879 Change in unrealized appreciation/depreciation of foreign currency contracts (5,737) (14,663) Net gain (loss) on derivatives (71,185) 1,471,216 Net realized gain (loss) on foreign currency transactions 128,542 (1,485,164) Change in unrealized appreciation/depreciation of foreign currency translations 565 (9,768) Total income (net) 59,029,877 (7,671,297) Expenses (Note 10) Management fees 880,772 705,620 Independent Review Committee fees 1,341 1,352 Foreign withholding taxes 961,047 906,964 Transaction costs (Note 3) 29 49 Total expenses 1,843,189 1,613,985 Expenses absorbed or waived by manager (1,341) (1,352) Net expenses 1,841,848 1,612,633 Increase (decrease) in net assets attributable to holders of redeemable units $57,188,029 $(9,283,930) Weighted average number of redeemable units 12,720,663 11,836,484 Increase (decrease) in net assets attributable to holders of redeemable units per unit $4.50 $(0.78)

The accompanying notes are an integral part of the financial statements.

267 Vanguard U.S. Dividend Appreciation Index ETF

Statement of Changes in Net Assets Attributable to Holders of Redeemable Units For the six months ended June 30, 2021, and June 30, 2020 (unaudited)

2021 2020 Net assets attributable to holders of redeemable units, beginning of period $757,554,004 $624,522,747 Increase (decrease) in net assets attributable to holders of redeemable units $57,188,029 $(9,283,930) Distributions to holders of redeemable units Net investment income (4,818,847) (4,688,184) Return of capital (108,432) — Total distributions to holders of redeemable units (4,927,279) (4,688,184) Redeemable unit transactions Proceeds from issuance of redeemable units 68,953,195 86,289,335 Payment for redeemable units redeemed (33,020,118) (56,250,392) Net redeemable unit transactions 35,933,077 30,038,943 Net assets attributable to holders of redeemable units, end of period $845,747,831 $640,589,576

Statement of Cash Flows For the six months ended June 30, 2021, and June 30, 2020 (unaudited)

2021 2020 Cash flows from (used in) operating activities Increase (decrease) in net assets attributable to holders of redeemable units $57,188,029 $(9,283,930) Adjustments for: Net realized (gain) loss on sale of investments (9,644,732) (9,700,273) Change in unrealized appreciation/depreciation of investments (42,992,786) 23,410,774 Change in unrealized appreciation/depreciation of derivatives 5,737 14,663 Change in unrealized appreciation/depreciation of foreign currency translations (565) 9,768 1 Purchase of investments (0) (542,525) 2 Proceeds from sale of investments 2,785,383 2,664,473 Change in working capital 60,120 (2,746,975) Net cash from (used in) operating activities 7,401,186 3,825,975 Cash flows from (used in) financing activities 1 Proceeds from issuance of redeemable units 12,930 555,190 Distributions to holders of redeemable units, net of reinvested distributions (7,207,573) (4,435,118) 2 Payment for redeemable units redeemed (4,560) (9,898) Net cash from (used in) financing activities (7,199,203) (3,889,826) Change in unrealized appreciation/depreciation of foreign currency translations 565 (9,768) Net increase (decrease) in cash during the period $202,548 $(73,619) Cash, beginning of period $423,737 $239,690 Cash, end of period $626,285 $166,071 Supplemental cash flow information relating to operating activities Income distributions received, net of foreign withholding taxes, if applicable $5,373,390 $2,369,587 Interest received, net of foreign withholding taxes, if applicable — $748

1 Excludes in-kind transactions of $70,777,501 and $85,734,005 for the periods ended June 30, 2021 and 2020. 2 Excludes in-kind transactions of $33,015,558 and $56,240,494 for the periods ended June 30, 2021 and 2020.

The accompanying notes are an integral part of the financial statements.

268 Vanguard U.S. Dividend Appreciation Index ETF

Schedule of Investment Portfolio As at June 30, 2021 (unaudited)

Description Number of Units Cost ($) Fair Value ($) % of Net Assets Exchange-traded funds Vanguard Dividend Appreciation ETF* 4,404,982 584,675,097 845,217,744 99.9 Total investments 584,675,097 845,217,744 99.9 Other assets and liabilities (net) 530,087 0.1 Total net assets attributable to holders of redeemable units 845,747,831 100.0 * Affiliated fund. Refer to Note 10(b).

Fund-Specific Notes—Concentration Risk As at June 30, 2021 (unaudited), and December 31, 2020 % of net assets attributable to holders of redeemable units

June 30, December 31, Sector Allocation 2021 2020 Underlying U.S.-domiciled Vanguard Fund Industrials 21.9 20.8 Consumer Discretionary 16.7 22.8 Health Care 15.0 14.9 Financials 14.1 8.0 Technology 13.3 12.4 Consumer Staples 9.9 9.8 Utilities 3.6 5.2 Basic Materials 3.0 2.8 Telecommunications 2.2 3.0 Other assets and liabilities (net) 0.3 0.3 100.0 100.0

269 Vanguard U.S. Dividend Appreciation Index ETF (CAD-hedged)

Statement of Financial Position As at June 30, 2021 (unaudited), and December 31, 2020

June 30, December 31, 2021 2020 Assets Current assets Investments $426,357,827 $393,672,777 Cash 241,647 296,389 Amounts receivable for investments sold 10,683,908 3,388,528 Margin due from brokers 66 Unrealized appreciation of foreign currency contracts 62,890 6,516,204 Total assets 437,346,278 403,873,904 Liabilities Current liabilities Amounts payable for redeemable units redeemed — 2,375,675 Amounts payable for investments purchased — 6,395,805 Distributions payable — 1,187,726 Accrued expenses and other liabilities 50,351 22,319 Unrealized depreciation of foreign currency contracts 10,673,848 47,622 Total liabilities excluding net assets attributable to holders of redeemable units 10,724,199 10,029,147 Total net assets attributable to holders of redeemable units $426,622,079 $393,844,757 Number of redeemable units outstanding (Note 9) 8,209,000 8,289,000 Net assets attributable to holders of redeemable units per unit $51.97 $47.51

The accompanying notes are an integral part of the financial statements.

270 Vanguard U.S. Dividend Appreciation Index ETF (CAD-hedged)

Statement of Comprehensive Income For the six months ended June 30, 2021, and June 30, 2020 (unaudited)

2021 2020 Income Net gain (loss) on investments Interest for distribution purposes —$697 Income distribution from underlying funds $3,193,856 2,959,318 Net realized gain (loss) on sale of investments 13,811,772 7,051,885 Change in unrealized appreciation/depreciation of investments 11,639,067 (4,782,840) Net gain (loss) on investments 28,644,695 5,229,060 Net gain (loss) on derivatives Net realized gain (loss) on foreign currency contracts 27,286,697 (10,455,366) Change in unrealized appreciation/depreciation of foreign currency contracts (17,079,540) (1,509,924) Net gain (loss) on derivatives 10,207,157 (11,965,290) Net realized gain (loss) on foreign currency transactions 292,360 (314,746) Change in unrealized appreciation/depreciation of foreign currency translations 4,790 (3,335) Total income (net) 39,149,002 (7,054,311) Expenses (Note 10) Management fees 444,158 321,227 Overdraft expenses —682 Independent Review Committee fees 1,341 1,352 Foreign withholding taxes 486,226 440,673 Transaction costs (Note 3) 1,219 2,324 Total expenses 932,944 766,258 Expenses absorbed or waived by manager (1,341) (1,352) Net expenses 931,603 764,906 Increase (decrease) in net assets attributable to holders of redeemable units $38,217,399 $(7,819,217) Weighted average number of redeemable units 8,095,519 7,328,670 Increase (decrease) in net assets attributable to holders of redeemable units per unit $4.72 $(1.07)

The accompanying notes are an integral part of the financial statements.

271 Vanguard U.S. Dividend Appreciation Index ETF (CAD-hedged)

Statement of Changes in Net Assets Attributable to Holders of Redeemable Units For the six months ended June 30, 2021, and June 30, 2020 (unaudited)

2021 2020 Net assets attributable to holders of redeemable units, beginning of period $393,844,757 $272,469,694 Increase (decrease) in net assets attributable to holders of redeemable units $38,217,399 $(7,819,217) Distributions to holders of redeemable units Net investment income (2,439,598) (2,203,956) Return of capital (43,128) — Total distributions to holders of redeemable units (2,482,726) (2,203,956) Redeemable unit transactions Proceeds from issuance of redeemable units 45,124,331 90,701,155 Payment for redeemable units redeemed (48,081,682) (16,589,632) Net redeemable unit transactions (2,957,351) 74,111,523 Net assets attributable to holders of redeemable units, end of period $426,622,079 $336,558,044

Statement of Cash Flows For the six months ended June 30, 2021, and June 30, 2020 (unaudited)

2021 2020 Cash flows from (used in) operating activities Increase (decrease) in net assets attributable to holders of redeemable units $38,217,399 $(7,819,217) Adjustments for: Net realized (gain) loss on sale of investments (13,811,772) (7,051,885) Change in unrealized appreciation/depreciation of investments (11,639,067) 4,782,840 Change in unrealized appreciation/depreciation of derivatives 17,079,540 1,509,924 Change in unrealized appreciation/depreciation of foreign currency translations (4,790) 3,335 Purchase of investments1 (28,588,445) (15,808,954) 2 Proceeds from sale of investments 2,606,629 26,331,798 Change in working capital 28,032 (1,481,947) Net cash from (used in) operating activities 3,887,526 465,894 Cash flows from (used in) financing activities 1 Proceeds from issuance of redeemable units 331,948 1,541,242 Distributions to holders of redeemable units, net of reinvested distributions (3,670,452) (1,956,536) 2 Payment for redeemable units redeemed (608,554) 79,741 Net cash from (used in) financing activities (3,947,058) (335,553) Change in unrealized appreciation/depreciation of foreign currency translations 4,790 (3,335) Net increase (decrease) in cash during the period $(54,742) $127,006 Cash, beginning of period $296,389 $162,286 Cash, end of period $241,647 $289,292 Supplemental cash flow information relating to operating activities Income distributions received, net of foreign withholding taxes, if applicable $2,707,630 $1,008,560 Interest received, net of foreign withholding taxes, if applicable — $697 Interest paid — $682

1 Excludes in-kind transactions of $44,792,383 and $89,154,015 for the periods ended June 30, 2021 and 2020. 2 Excludes in-kind transactions of $49,848,803 and $16,669,373 for the periods ended June 30, 2021 and 2020.

The accompanying notes are an integral part of the financial statements.

272 Vanguard U.S. Dividend Appreciation Index ETF (CAD-hedged)

Schedule of Investment Portfolio As at June 30, 2021 (unaudited)

Description Number of Units Cost ($) Fair Value ($) % of Net Assets Exchange-traded funds Vanguard Dividend Appreciation ETF* 2,224,362 321,624,047 426,357,827 99.9 Total investments 321,624,047 426,357,827 99.9 Foreign currency contracts (Schedule 1) (10,610,958) (2.5) Other assets and liabilities (net) 10,875,210 2.6 Total net assets attributable to holders of redeemable units 426,622,079 100.0 * Affiliated fund. Refer to Note 10(b).

Schedule 1—Foreign Currency Contracts As at June 30, 2021 (unaudited)

Unrealized Appreciation Number of Settlement (Depreciation) Credit Contracts Contract Price Currency Sold Currency Bought Date ($) Rating* 1 CAD 1.206 Canadian Dollar 2,081,432 U.S. Dollar 1,725,631 Jul 02/21 55,417 A+ 1 CAD 1.234 Canadian Dollar 1,033,834 U.S. Dollar 837,888 Jul 02/21 3,723 AA- 1 CAD 1.208 Canadian Dollar 84,453 U.S. Dollar 69,900 Jul 02/21 2,105 A+ 1 USD 0.807 U.S. Dollar 4,179,001 Canadian Dollar 5,175,911 Jul 02/21 1,053 A+ 1 USD 0.806 U.S. Dollar 199,597 Canadian Dollar 247,546 Aug 03/21 381 A+ 1 CAD 1.238 Canadian Dollar 1,362,301 U.S. Dollar 1,100,309 Jul 02/21 211 AA- 1 USD 0.808 U.S. Dollar 8,799,054 Canadian Dollar 10,895,868 Jul 02/21 0 AA- Unrealized appreciation of foreign currency contracts 62,890 1 USD 0.828 U.S. Dollar 340,717,243 Canadian Dollar 411,606,191 Jul 02/21 (10,303,971) AA- 1 USD 0.828 U.S. Dollar 9,553,989 Canadian Dollar 11,541,620 Jul 02/21 (289,085) A+ 1 USD 0.828 U.S. Dollar 1,721,832 Canadian Dollar 2,079,895 Jul 02/21 (52,249) AA- 1 USD 0.828 U.S. Dollar 847,879 Canadian Dollar 1,024,273 Jul 02/21 (25,655) A+ 1 USD 0.808 U.S. Dollar 353,286,216 Canadian Dollar 437,478,914 Aug 03/21 (2,473) AA- 1 CAD 1.241 Canadian Dollar 186,151 U.S. Dollar 150,000 Jul 02/21 (405) A+ 1 CAD 1.238 Canadian Dollar 12,442,760 U.S. Dollar 10,048,089 Aug 03/21 (10) AA- 1 CAD 1.238 Canadian Dollar 437,474,321 U.S. Dollar 353,286,216 Jul 02/21 (0) AA- Unrealized depreciation of foreign currency contracts (10,673,848) Net unrealized depreciation of foreign currency contracts (10,610,958)

* Sources: Standard & Poor’s and Fitch.

273 Vanguard U.S. Dividend Appreciation Index ETF (CAD-hedged)

Fund-Specific Notes—Concentration Risk As at June 30, 2021 (unaudited), and December 31, 2020 % of net assets attributable to holders of redeemable units

June 30, December 31, Sector Allocation 2021 2020 Underlying U.S.-domiciled Vanguard Fund Industrials 21.9 20.8 Consumer Discretionary 16.7 22.8 Health Care 15.0 14.9 Financials 14.1 8.0 Technology 13.3 12.4 Consumer Staples 9.9 9.8 Utilities 3.6 5.2 Basic Materials 3.0 2.8 Telecommunications 2.2 3.0 Other assets and liabilities (net) 0.3 0.3 100.0 100.0

274 Vanguard U.S. Total Market Index ETF

Statement of Financial Position As at June 30, 2021 (unaudited), and December 31, 2020

June 30, December 31, 2021 2020 Assets Current assets Investments $4,275,501,691 $3,042,437,547 Cash 11,256,765 151,426 Amounts receivable for redeemable units issued 11,256,288 10,762,240 Amounts receivable for investments sold 3,001,825 6,703,251 Margin due from brokers — 94,981 Income distributions receivable — 10,348,176 Unrealized appreciation of foreign currency contracts 3,390 41,426 Total assets 4,301,019,959 3,070,539,047 Liabilities Current liabilities Amounts payable for redeemable units redeemed 3,002,696 6,724,090 Amounts payable for investments purchased 11,256,372 10,734,438 Margin due to brokers 19 — Distributions payable 9,662,769 8,626,442 Accrued expenses and other liabilities 356,110 111,842 Unrealized depreciation of foreign currency contracts (0) 23,961 Total liabilities excluding net assets attributable to holders of redeemable units 24,277,966 26,220,773 Total net assets attributable to holders of redeemable units $4,276,741,993 $3,044,318,274 Number of redeemable units outstanding (Note 9) 56,972,000 45,192,000 Net assets attributable to holders of redeemable units per unit $75.07 $67.36

The accompanying notes are an integral part of the financial statements.

275 Vanguard U.S. Total Market Index ETF

Statement of Comprehensive Income For the six months ended June 30, 2021, and June 30, 2020 (unaudited)

2021 2020 Income Net gain (loss) on investments Interest for distribution purposes $32 $3,491 Income distribution from underlying funds 24,447,210 20,935,623 Net realized gain (loss) on sale of investments 15,053,724 18,841,616 Change in unrealized appreciation/depreciation of investments 385,187,054 (26,609,881) Net gain (loss) on investments 424,688,020 13,170,849 Net gain (loss) on derivatives Net realized gain (loss) on foreign currency contracts (902,439) 1,232,792 Net realized gain (loss) on futures contracts (168) — Change in unrealized appreciation/depreciation of foreign currency contracts (14,075) (32,189) Net gain (loss) on derivatives (916,682) 1,200,603 Net realized gain (loss) on foreign currency transactions 949,802 (1,309,478) Change in unrealized appreciation/depreciation of foreign currency translations 84,262 28,643 Total income (net) 424,805,402 13,090,617 Expenses (Note 10) Management fees 2,443,389 1,538,755 Independent Review Committee fees 1,341 1,352 Foreign withholding taxes 3,693,443 3,129,307 Transaction costs (Note 3) 12 190 Total expenses 6,138,185 4,669,604 Expenses absorbed or waived by manager (1,341) (1,352) Net expenses 6,136,844 4,668,252 Increase (decrease) in net assets attributable to holders of redeemable units $418,668,558 $8,422,365 Weighted average number of redeemable units 51,413,381 41,336,286 Increase (decrease) in net assets attributable to holders of redeemable units per unit $8.14 $0.20

The accompanying notes are an integral part of the financial statements.

276 Vanguard U.S. Total Market Index ETF

Statement of Changes in Net Assets Attributable to Holders of Redeemable Units For the six months ended June 30, 2021, and June 30, 2020 (unaudited)

2021 2020 Net assets attributable to holders of redeemable units, beginning of period $3,044,318,274 $2,223,819,319 Increase (decrease) in net assets attributable to holders of redeemable units $418,668,558 $8,422,365 Distributions to holders of redeemable units Net investment income (19,688,673) (16,869,234) Return of capital (32,610) — Total distributions to holders of redeemable units (19,721,283) (16,869,234) Redeemable unit transactions Proceeds from issuance of redeemable units 882,606,201 346,990,687 Payment for redeemable units redeemed (49,129,757) (139,128,248) Net redeemable unit transactions 833,476,444 207,862,439 Net assets attributable to holders of redeemable units, end of period $4,276,741,993 $2,423,234,889

Statement of Cash Flows For the six months ended June 30, 2021, and June 30, 2020 (unaudited)

2021 2020 Cash flows from (used in) operating activities Increase (decrease) in net assets attributable to holders of redeemable units $418,668,558 $8,422,365 Adjustments for: Net realized (gain) loss on sale of investments (15,053,724) (18,841,616) Change in unrealized appreciation/depreciation of investments (385,187,054) 26,609,881 Change in unrealized appreciation/depreciation of derivatives 14,075 32,189 Change in unrealized appreciation/depreciation of foreign currency translations (84,262) (28,643) 1 Purchase of investments (0) (1,780,895) 2 Proceeds from sale of investments 477,237 11,356,705 Change in working capital 10,687,444 104,000 Net cash from (used in) operating activities 29,522,274 25,873,986 Cash flows from (used in) financing activities 1 Proceeds from issuance of redeemable units 216,291 72,069 Distributions to holders of redeemable units, net of reinvested distributions (18,684,956) (18,572,973) 2 Payment for redeemable units redeemed (32,532) (30,224) Net cash from (used in) financing activities (18,501,197) (18,531,128) Change in unrealized appreciation/depreciation of foreign currency translations 84,262 28,643 Net increase (decrease) in cash during the period $11,105,339 $7,371,501 Cash, beginning of period $151,426 $654,897 Cash, end of period $11,256,765 $8,026,398 Supplemental cash flow information relating to operating activities Income distributions received, net of foreign withholding taxes, if applicable $31,101,943 $17,806,316 Interest received, net of foreign withholding taxes, if applicable $32 $3,491

1 Excludes in-kind transactions of $881,895,862 and $346,918,867 for the periods ended June 30, 2021 and 2020. 2 Excludes in-kind transactions of $52,818,619 and $139,099,453 for the periods ended June 30, 2021 and 2020.

The accompanying notes are an integral part of the financial statements.

277 Vanguard U.S. Total Market Index ETF

Schedule of Investment Portfolio As at June 30, 2021 (unaudited)

Description Number of Units Cost ($) Fair Value ($) % of Net Assets Exchange-traded funds Vanguard Total Stock Market ETF* 15,479,301 2,974,685,600 4,275,501,691 100.0 Total investments 2,974,685,600 4,275,501,691 100.0 Foreign currency contracts (Schedule 1) 3,390 0.0 Other assets and liabilities (net) 1,236,912 0.0 Total net assets attributable to holders of redeemable units 4,276,741,993 100.0 * Affiliated fund. Refer to Note 10(b).

Schedule 1—Foreign Currency Contracts As at June 30, 2021 (unaudited)

Unrealized Appreciation Number of Settlement (Depreciation) Credit Contracts Contract Price Currency Sold Currency Bought Date ($) Rating* 1 CAD 1.239 Canadian Dollar 7,501,804 U.S. Dollar 6,053,747 Jul 02/21 2,421 AA- 1 CAD 1.239 Canadian Dollar 3,000,722 U.S. Dollar 2,421,499 Jul 02/21 969 AA- 1 CAD 1.240 Canadian Dollar 750,456 U.S. Dollar 605,402 Jul 06/21 0 AA- Unrealized appreciation of foreign currency contracts 3,390 1 USD 0.807 U.S. Dollar 2,421,608 Canadian Dollar 3,001,825 Jul 06/21 (0) AA- Unrealized depreciation of foreign currency contracts (0) Net unrealized appreciation of foreign currency contracts 3,390

* Sources: Standard & Poor’s and Fitch.

Fund-Specific Notes—Concentration Risk As at June 30, 2021 (unaudited), and December 31, 2020 % of net assets attributable to holders of redeemable units

June 30, December 31, Sector Allocation 2021 2020 Underlying U.S.-domiciled Vanguard Fund Technology 27.0 26.1 Consumer Discretionary 15.9 16.6 Industrials 13.8 13.8 Health Care 13.0 13.5 Financials 11.1 10.5 Consumer Staples 4.7 5.2 Real Estate 3.5 3.4 Telecommunications 3.0 3.3 Energy 2.9 2.3 Utilities 2.6 2.9 Basic Materials 2.0 1.9 Other assets and liabilities (net) 0.5 0.5 100.0 100.0

278 Vanguard U.S. Total Market Index ETF (CAD-hedged)

Statement of Financial Position As at June 30, 2021 (unaudited), and December 31, 2020

June 30, December 31, 2021 2020 Assets Current assets Investments $1,045,225,692 $820,832,812 Cash 294,399 3,231,835 Amounts receivable for redeemable units issued 2,451,381 — Amounts receivable for investments sold 25,194,705 — Margin due from brokers 17 70,259 Income distributions receivable 2,729,989 8,010 Unrealized appreciation of foreign currency contracts 64,639 13,137,413 Total assets 1,075,960,822 837,280,329 Liabilities Current liabilities Amounts payable for investments purchased 2,469,907 13,732,731 Distributions payable 2,214,785 2,282,435 Accrued expenses and other liabilities 80,142 28,626 Unrealized depreciation of foreign currency contracts 25,387,241 17,601 Total liabilities excluding net assets attributable to holders of redeemable units 30,152,075 16,061,393 Total net assets attributable to holders of redeemable units $1,045,808,747 $821,218,936 Number of redeemable units outstanding (Note 9) 12,798,000 11,488,000 Net assets attributable to holders of redeemable units per unit $81.72 $71.48

The accompanying notes are an integral part of the financial statements.

279 Vanguard U.S. Total Market Index ETF (CAD-hedged)

Statement of Comprehensive Income For the six months ended June 30, 2021, and June 30, 2020 (unaudited)

2021 2020 Income Net gain (loss) on investments Interest for distribution purposes —$2,140 Income distribution from underlying funds $5,887,972 6,081,177 Net realized gain (loss) on sale of investments 15,726,153 20,388,414 Change in unrealized appreciation/depreciation of investments 84,720,676 (22,787,344) Net gain (loss) on investments 106,334,801 3,684,387 Net gain (loss) on derivatives Net realized gain (loss) on foreign currency contracts 69,718,346 (30,542,564) Net realized gain (loss) on futures contracts (1,028) — Change in unrealized appreciation/depreciation of foreign currency contracts (38,442,414) (6,108,897) Net gain (loss) on derivatives 31,274,904 (36,651,461) Net realized gain (loss) on foreign currency transactions (7,692,461) (2,820,026) Change in unrealized appreciation/depreciation of foreign currency translations 33,114 14,379 Total income (net) 129,950,358 (35,772,721) Expenses (Note 10) Management fees 618,576 448,024 Overdraft expenses —1,469 Independent Review Committee fees 1,341 1,352 Foreign withholding taxes 915,277 884,256 Transaction costs (Note 3) 2,015 4,690 Total expenses 1,537,209 1,339,791 Expenses absorbed or waived by manager (1,341) (1,352) Net expenses 1,535,868 1,338,439 Increase (decrease) in net assets attributable to holders of redeemable units $128,414,490 $(37,111,160) Weighted average number of redeemable units 12,097,503 11,919,593 Increase (decrease) in net assets attributable to holders of redeemable units per unit $10.61 $(3.11)

The accompanying notes are an integral part of the financial statements.

280 Vanguard U.S. Total Market Index ETF (CAD-hedged)

Statement of Changes in Net Assets Attributable to Holders of Redeemable Units For the six months ended June 30, 2021, and June 30, 2020 (unaudited)

2021 2020 Net assets attributable to holders of redeemable units, beginning of period $821,218,936 $708,681,750 Increase (decrease) in net assets attributable to holders of redeemable units $128,414,490 $(37,111,160) Distributions to holders of redeemable units Net investment income (4,679,935) (4,784,423) Return of capital (21,702) — Total distributions to holders of redeemable units (4,701,637) (4,784,423) Redeemable unit transactions Proceeds from issuance of redeemable units 122,265,929 68,224,020 Payment for redeemable units redeemed (21,388,971) (52,388,775) Net redeemable unit transactions 100,876,958 15,835,245 Net assets attributable to holders of redeemable units, end of period $1,045,808,747 $682,621,412

Statement of Cash Flows For the six months ended June 30, 2021, and June 30, 2020 (unaudited)

2021 2020 Cash flows from (used in) operating activities Increase (decrease) in net assets attributable to holders of redeemable units $128,414,490 $(37,111,160) Adjustments for: Net realized (gain) loss on sale of investments (15,726,153) (20,388,414) Change in unrealized appreciation/depreciation of investments (84,720,676) 22,787,344 Change in unrealized appreciation/depreciation of derivatives 38,442,414 6,108,897 Change in unrealized appreciation/depreciation of foreign currency translations (33,114) (14,379) 1 Purchase of investments (65,267,695) (33,834,573) 2 Proceeds from sale of investments 2,420,330 69,171,719 Change in working capital (2,600,221) (90,005) Net cash from (used in) operating activities 929,375 6,629,429 Cash flows from (used in) financing activities 1 Proceeds from issuance of redeemable units 1,008,591 630,046 Distributions to holders of redeemable units, net of reinvested distributions (4,769,287) (5,494,296) 2 Payment for redeemable units redeemed (139,229) (322,662) Net cash from (used in) financing activities (3,899,925) (5,186,912) Change in unrealized appreciation/depreciation of foreign currency translations 33,114 14,379 Net increase (decrease) in cash during the period $(2,937,436) $1,456,896 Cash, beginning of period $3,231,835 $426,871 Cash, end of period $294,399 $1,883,767 Supplemental cash flow information relating to operating activities Income distributions received, net of foreign withholding taxes, if applicable $2,250,716 $5,080,910 Interest received, net of foreign withholding taxes, if applicable — $2,140 Interest paid — $1,469

1 Excludes in-kind transactions of $118,805,957 and $67,593,974 for the periods ended June 30, 2021 and 2020. 2 Excludes in-kind transactions of $21,249,742 and $52,066,113 for the periods ended June 30, 2021 and 2020.

The accompanying notes are an integral part of the financial statements.

281 Vanguard U.S. Total Market Index ETF (CAD-hedged)

Schedule of Investment Portfolio As at June 30, 2021 (unaudited)

Description Number of Units Cost ($) Fair Value ($) % of Net Assets Exchange-traded funds Vanguard Total Stock Market ETF* 3,788,175 703,954,278 1,045,225,692 99.9 Total investments 703,954,278 1,045,225,692 99.9 Foreign currency contracts (Schedule 1) (25,322,602) (2.4) Other assets and liabilities (net) 25,905,657 2.5 Total net assets attributable to holders of redeemable units 1,045,808,747 100.0 * Affiliated fund. Refer to Note 10(b).

Schedule 1—Foreign Currency Contracts As at June 30, 2021 (unaudited)

Unrealized Appreciation Number of Settlement (Depreciation) Credit Contracts Contract Price Currency Sold Currency Bought Date ($) Rating* 1 CAD 1.228 Canadian Dollar 4,745,795 U.S. Dollar 3,863,184 Jul 02/21 37,986 AA- 1 USD 0.803 U.S. Dollar 1,294,336 Canadian Dollar 1,611,606 Jul 02/21 8,830 AA- 1 CAD 1.234 Canadian Dollar 2,151,107 U.S. Dollar 1,743,402 Jul 02/21 7,747 AA- 1 CAD 1.208 Canadian Dollar 203,149 U.S. Dollar 168,142 Jul 02/21 5,062 A+ 1 USD 0.807 U.S. Dollar 1,800,000 Canadian Dollar 2,231,730 Jul 02/21 2,790 A+ 1 USD 0.807 U.S. Dollar 1,935,743 Canadian Dollar 2,398,345 Jul 02/21 1,314 AA- 1 USD 0.806 U.S. Dollar 476,166 Canadian Dollar 590,556 Aug 03/21 910 A+ 1 USD 0.808 U.S. Dollar 409,832 Canadian Dollar 507,504 Aug 03/21 0 AA- 1 USD 0.808 U.S. Dollar 20,794,189 Canadian Dollar 25,749,444 Jul 02/21 0 AA- Unrealized appreciation of foreign currency contracts 64,639 1 USD 0.828 U.S. Dollar 819,581,142 Canadian Dollar 990,101,555 Jul 02/21 (24,785,773) AA- 1 USD 0.828 U.S. Dollar 11,460,627 Canadian Dollar 13,844,919 Jul 02/21 (346,775) A+ 1 USD 0.826 U.S. Dollar 6,574,196 Canadian Dollar 7,956,182 Jul 02/21 (184,645) AA- 1 USD 0.828 U.S. Dollar 1,296,841 Canadian Dollar 1,566,638 Jul 02/21 (39,240) A+ 1 USD 0.811 U.S. Dollar 6,446,632 Canadian Dollar 7,953,453 Jul 02/21 (29,412) AA- 1 CAD 1.239 Canadian Dollar 2,471,303 U.S. Dollar 1,994,595 Jul 02/21 (1,396) AA- 1 USD 0.808 U.S. Dollar 842,814,789 Canadian Dollar 1,043,674,409 Aug 03/21 (0) AA- 1 CAD 1.238 Canadian Dollar 1,043,657,553 U.S. Dollar 842,814,789 Jul 02/21 (0) AA- Unrealized depreciation of foreign currency contracts (25,387,241) Net unrealized depreciation of foreign currency contracts (25,322,602)

* Sources: Standard & Poor’s and Fitch.

282 Vanguard U.S. Total Market Index ETF (CAD-hedged)

Fund-Specific Notes—Concentration Risk As at June 30, 2021 (unaudited), and December 31, 2020 % of net assets attributable to holders of redeemable units

June 30, December 31, Sector Allocation 2021 2020 Underlying U.S.-domiciled Vanguard Fund Technology 27.0 26.1 Consumer Discretionary 15.9 16.6 Industrials 13.8 13.8 Health Care 13.0 13.5 Financials 11.1 10.5 Consumer Staples 4.7 5.2 Real Estate 3.5 3.4 Telecommunications 3.0 3.3 Energy 2.9 2.3 Utilities 2.6 2.9 Basic Materials 2.0 1.9 Other assets and liabilities (net) 0.5 0.5 100.0 100.0

283 Notes to the Financial Statements For the six months ended June 30, 2021 All amounts in Canadian dollars unless otherwise stated

1. General information

The Vanguard ETFs (individually a “Fund” and collectively the “Funds”) are exchange-traded mutual funds listed on Toronto Stock Exchange (“TSX”), each established on the formation dates noted below as an open-ended trust under the laws of the Province of Ontario pursuant to a master declaration of trust dated November 4, 2011, as amended from time to time (the “Declaration of Trust”). Each Fund seeks to track, to the extent reasonably possible and before fees and expenses, the performance of a broad widely quoted market index (the “Index”).

Closing Market Price Closing Market Price TSX Ticker Formation Date of Fund Name June 30, 2021 December 31, 2020 Symbol Date Commencement Vanguard Canadian Aggregate Bond Index ETF 26.03 27.38 VAB Nov. 4, 2011 Nov. 30, 2011 Vanguard Canadian Corporate Bond Index ETF 25.84 26.73 VCB Jan. 11, 2017 Jan. 31, 2017 Vanguard Canadian Government Bond Index ETF 25.78 27.27 VGV Jan. 11, 2017 Jan. 31, 2017 Vanguard Canadian Long-Term Bond Index ETF 27.29 30.00 VLB Jan. 11, 2017 Jan. 31, 2017 Vanguard Canadian Short-Term Bond Index ETF 24.06 24.48 VSB Nov. 4, 2011 Nov. 30, 2011 Vanguard Canadian Short-Term Corporate Bond Index ETF 24.71 25.15 VSC Oct. 10, 2012 Nov. 2, 2012 Vanguard FTSE Canada All Cap Index ETF 40.64 35.02 VCN Jul. 19, 2013 Aug. 2, 2013 Vanguard FTSE Canada Index ETF 43.24 36.91 VCE Nov. 4, 2011 Nov. 30, 2011 Vanguard FTSE Canadian Capped REIT Index ETF 35.23 29.40 VRE Oct. 10, 2012 Nov. 2, 2012 Vanguard FTSE Canadian High Dividend Yield Index ETF 40.14 32.79 VDY Oct. 10, 2012 Nov. 2, 2012 Vanguard FTSE Developed All Cap ex North America Index ETF 32.07 30.47 VIU Aug. 18, 2015 Dec. 1, 2015 Vanguard FTSE Developed All Cap ex North America Index ETF (CAD-hedged) 33.55 30.10 VI Aug. 18, 2015 Dec. 1, 2015 Vanguard FTSE Developed All Cap ex U.S. Index ETF 40.10 37.81 VDU Jul. 19, 2013 Aug. 2, 2013 Vanguard FTSE Developed All Cap ex U.S. Index ETF (CAD-hedged) 48.08 42.83 VEF Nov. 4, 2011 Nov. 30, 2011 Vanguard FTSE Developed Asia Pacific All Cap Index ETF 38.40 38.16 VA Jun. 13, 2014 Jun. 30, 2014 Vanguard FTSE Developed Europe All Cap Index ETF 32.29 29.98 VE Jun. 13, 2014 Jun. 30, 2014 Vanguard FTSE Developed ex North America High Dividend Yield Index ETF 25.77 23.87 VIDY Jul. 10, 2018 Aug. 21, 2018 Vanguard FTSE Emerging Markets All Cap Index ETF 40.47 38.38 VEE Nov. 4, 2011 Nov. 30, 2011 Vanguard FTSE Global All Cap ex Canada Index ETF 49.02 45.01 VXC Jun. 13, 2014 Jun. 30, 2014 Vanguard Global Aggregate Bond Index ETF (CAD-hedged) 25.22 25.90 VGAB Jan. 9, 2020 Jan. 17, 2020 Vanguard Global ex-U.S. Aggregate Bond Index ETF (CAD-hedged) 27.40 28.11 VBG Jun. 13, 2014 Jun. 30, 2014 Vanguard S&P 500 Index ETF 94.51 84.84 VFV Oct. 10, 2012 Nov. 2, 2012 Vanguard S&P 500 Index ETF (CAD-hedged) 71.93 62.99 VSP Oct. 10, 2012 Nov. 2, 2012 Vanguard U.S. Aggregate Bond Index ETF (CAD-hedged) 25.95 26.70 VBU Jun. 13, 2014 Jun. 30, 2014 Vanguard U.S. Dividend Appreciation Index ETF 65.38 61.31 VGG Jul. 19, 2013 Aug. 2, 2013 Vanguard U.S. Dividend Appreciation Index ETF (CAD-hedged) 51.97 47.57 VGH Jul. 19, 2013 Aug. 2, 2013 Vanguard U.S. Total Market Index ETF 75.12 67.41 VUN Jul. 19, 2013 Aug. 2, 2013 Vanguard U.S. Total Market Index ETF (CAD-hedged) 81.78 71.54 VUS Nov. 4, 2011 Nov. 30, 2011

The date of commencement is the date on which the Fund first issues units to the designated brokers. Investment performance is measured from the date of commencement.

The Statements of Financial Position are presented as at June 30, 2021, and December 31, 2020, as applicable. The Statements of Comprehensive Income, Statements of Changes in Net Assets Attributable to Holders of Redeemable Units and Statements of Cash Flows are presented for the six months ended June 30, 2021, and June 30, 2020, except for Funds established during either period, in which case the information provided relates to the period from the date of commencement to June 30, 2021, and June 30, 2020, as applicable.

Vanguard Investments Canada Inc. (the "Manager") is the trustee, manager and portfolio manager of the Funds and is responsible for the administration of the Funds. The address of the Funds' registered office is 22 Adelaide Street West, Suite 2500, Toronto, ON M5H 4E3. The Manager has retained The Vanguard Group, Inc. (the "Sub-Advisor"), to act as sub-advisor to the Funds. State Street Fund Services Toronto Inc. is the accounting agent of the Funds. State Street Trust Company Canada is the custodian of the Funds.

These financial statements were authorized for issuance by the Board of Directors of the Manager on August 11, 2021.

284 2. Basis of presentation

These financial statements have been prepared in compliance with International Financial Reporting Standards ("IFRS") as issued by the International Accounting Standards Board ("IASB") on the historical cost convention, except for the revaluation of financial assets and liabilities at fair value through profit or loss ("FVTPL").

3. Summary of significant accounting policies

Accounting estimates and judgments The preparation of financial statements requires the Manager to use judgment in applying its accounting policies to make estimates and assumptions about the future. The following discusses the most significant accounting judgments and estimates that the Funds have made in preparing the financial statements:

A judgment made in preparing the financial statements relates to the determination that each of the Funds meets the definition of an investment entity as described in IFRS 10, Consolidated Financial Statements. The Funds meet the definition of an investment entity as they obtain funds from one or more investors for the purpose of providing those investors with professional investment management services, commit to their investors that their business purpose is to invest funds solely for returns from capital appreciation, investment income or both, and measure and evaluate the performance of substantially all of their investments on a fair value basis. As a result of this determination, with limited exception, the Funds will not consolidate entities when and if they were to obtain control. Instead, the Funds will measure their investments at FVTPL.

Income recognition Dividend income, including stock dividends, and distributions from underlying funds are recorded on the ex-dividend date and ex-distribution date, respectively. Interest for distribution purposes is recognized with the passage of time based on the stated interest rate and the investment’s principal balance or the cash balance, where applicable. The Funds do not amortize premiums paid or discounts received on the purchase of fixed income securities except for zero coupon bonds, which are amortized on a straight-line basis. Realized gains and losses on investment transactions and unrealized appreciation or depreciation of investments are both computed on an average cost basis.

Financial instruments Financial instruments include financial assets and liabilities such as debt and equity securities, open-ended investment funds and derivatives, cash and other receivables and payables.

Classification and measurement In classifying and measuring financial instruments held by the Funds, the Manager is required to make significant judgments in determining the most appropriate classification in accordance with IFRS 9, Financial Instruments. Financial instruments are classified based on the business model used for managing those financial instruments and the contractual cash flow characteristics of those instruments. The portfolio of financial instruments is managed, and performance is evaluated, on a fair value basis and not for contractual cash flows. Consequently, all investments are classified and measured at FVTPL. Obligations for net assets attributable to holders of redeemable units are presented at the redemption amount, which approximates their fair value. Derivatives are classified and measured at FVTPL. All other financial assets and liabilities are measured at amortized cost, which approximates their fair value.

Recognition and derecognition Purchases and sales of financial instruments are recognized at their trade date, being the date on which the purchase or sale is executed. Financial instruments are initially recognized when the Funds become party to the contractual provisions of the instrument. Financial instruments are derecognized when the contractual rights to the cash flows from the instruments expire, or when substantially all the risks and rewards of ownership have been transferred.

Equities Equities (including rights, warrants and exchange-traded funds) traded in recognized markets are valued using the last trade closing price on the securities exchange on which they are principally traded. If a security’s market price is not readily available or does not otherwise accurately reflect the fair value of the security, the security will be valued by another method that the Manager believes will better reflect fair value.

Fixed income Fixed income securities are valued using the latest bid prices or using valuations based on a matrix system (which considers such factors as security prices, yields, maturities, and ratings), both as furnished by independent pricing services. If a security’s market price is not readily available or does not otherwise accurately reflect the fair value of the security, the security will be valued by another method that the Manager believes will better reflect fair value.

Derivatives Forward currency contracts are valued based on quoted prices from an independent third party, adjusted for currency risk based on the expiration date of each contract. Futures contracts are valued at their quoted daily settlement prices.

285 Fair value hierarchy The Funds classify financial instruments measured at fair value using a three-level fair value hierarchy. Instruments are categorized in their entirety based on the lowest-level input that is significant to the fair value measurement. Assessing the significance and observability of a particular input requires significant judgment specific to an asset or liability. Inputs are considered to be observable when they are readily available, regularly distributed or updated, reliable and verifiable, not proprietary, and provided by independent sources that are actively involved in the relevant market.

Level 1—Quoted prices in active markets for identical securities. Level 2—Other significant observable inputs (including quoted prices for similar securities, net asset value ("NAV"), interest rates, prepayment speeds, credit risk, etc.). Level 3—Significant unobservable inputs (including the fund’s own fair value assumptions).

The Funds recognize transfers between levels of fair value hierarchy as of the beginning of the reporting period during which the change occurred.

The Funds’ carrying amount of financial instruments not measured at fair value on the Statement of Financial Position approximates their fair values due to their short-term nature.

Investments in associates, joint ventures, subsidiaries and structured entities Subsidiaries are entities, including investments in other investment entities, over which the Funds have control. The Funds control an entity when they are exposed to, or have the rights to, variable returns from involvement with the entity and have the ability to affect those returns through their power over the entity.

Associates and joint ventures are investments over which the Funds have significant influence or joint control. A structured entity is an entity that has been designed so that voting or similar rights are not the dominant factors in deciding who controls the entity, or when voting rights relate to administrative tasks only and the relevant activities are directed by means of contractual arrangements.

The Manager has determined that the underlying funds, ETFs, and asset-backed securities, if any, typically held by the Funds meet the definition of structured entities. The Funds account for their investments in unconsolidated structured entities at FVTPL. The Funds' maximum exposure to loss from their interest in these securities is equal to the total fair value of their investments.

Transaction costs Transaction costs that are directly attributable to the acquisition, issue or disposal of an investment are expensed and included in "Transaction costs" on the Statement of Comprehensive Income. These costs include fees and commissions paid to agents, advisors, brokers and dealers.

Net assets attributable to holders of redeemable units Units of the Funds, which are considered puttable instruments, are classified as financial liabilities unless the criteria for equity classification has been met. The Funds’ units are not considered equity because they include a cash redemption feature, which may cause cash flows on redemption that are not substantially based on profit or loss, changes in net assets or changes in fair value of net assets and are therefore classified as liabilities.

Net assets attributable to holders of redeemable units per unit is recorded on the Statement of Financial Position at the value of the net assets per unit to which unitholders are entitled. Net asset value per unit (“NAVPU”) is computed by dividing the NAV of a Fund by the total number of outstanding units of the Fund. The NAVPU is calculated as of the close of each day that TSX is open for trading.

286 In accordance with the prospectus, the Funds will make annual or quarterly distributions of income and capital gains, or return of capital. Distributions, when authorized, are recognized in the Statement of Changes in Net Assets Attributable to Holders of Redeemable Units. The Manager may, in its discretion, change the frequency of such distributions.

Fund Distribution Frequency Vanguard Canadian Aggregate Bond Index ETF Monthly Vanguard Canadian Corporate Bond Index ETF Monthly Vanguard Canadian Government Bond Index ETF Monthly Vanguard Canadian Long-Term Bond Index ETF Monthly Vanguard Canadian Short-Term Bond Index ETF Monthly Vanguard Canadian Short-Term Corporate Bond Index ETF Monthly Vanguard FTSE Canada All Cap Index ETF Quarterly Vanguard FTSE Canada Index ETF Quarterly Vanguard FTSE Canadian Capped REIT Index ETF Monthly Vanguard FTSE Canadian High Dividend Yield Index ETF Monthly Vanguard FTSE Developed All Cap ex North America Index ETF Quarterly Vanguard FTSE Developed All Cap ex North America Index ETF (CAD-hedged) Quarterly Vanguard FTSE Developed All Cap ex U.S. Index ETF Quarterly Vanguard FTSE Developed All Cap ex U.S. Index ETF (CAD-hedged) Quarterly Vanguard FTSE Developed Asia Pacific All Cap Index ETF Quarterly Vanguard FTSE Developed Europe All Cap Index ETF Quarterly Vanguard FTSE Developed ex North America High Dividend Yield Index ETF Quarterly Vanguard FTSE Emerging Markets All Cap Index ETF Quarterly Vanguard FTSE Global All Cap ex Canada Index ETF Quarterly Vanguard Global Aggregate Bond Index ETF (CAD-hedged) Monthly Vanguard Global ex-U.S. Aggregate Bond Index ETF (CAD-hedged) Monthly Vanguard S&P 500 Index ETF Quarterly Vanguard S&P 500 Index ETF (CAD-hedged) Quarterly Vanguard U.S. Aggregate Bond Index ETF (CAD-hedged) Monthly Vanguard U.S. Dividend Appreciation Index ETF Quarterly Vanguard U.S. Dividend Appreciation Index ETF (CAD-hedged) Quarterly Vanguard U.S. Total Market Index ETF Quarterly Vanguard U.S. Total Market Index ETF (CAD-hedged) Quarterly

Cash Cash is composed of demand deposits with financial institutions or bank overdrafts. Bank overdrafts, if applicable, are shown in “Current liabilities” on the Statement of Financial Position and included as negative cash in the Statement of Cash Flows.

Margin Upon entering into futures or swap contracts, the Funds are required to deposit either cash or securities (initial margin) in an amount equal to a certain percentage of the contract value. Subsequent payments (variation margin) are made or received by the Funds each day. Cash held or pledged as collateral or margin against financial transactions or derivative instruments is not included within “Cash” or “Bank overdrafts” but is segregated and presented separately as “Margin due from brokers” or “Margin due to brokers,” as applicable.

Foreign currency The financial activities of the Funds are measured using the currency of the primary economic environment where the Funds operate (functional currency). The financial statements are presented in Canadian dollars, which is the functional currency of the Funds. Assets and liabilities denominated in foreign currencies are translated into Canadian dollars at the rates of exchange prevailing at the measurement date. Purchases and sales of investments, and income and expenses, are translated using the exchange rates prevailing on the dates transactions occur.

Increase (decrease) in net assets attributable to holders of redeemable units per unit The increase (decrease) in net assets attributable to holders of redeemable units per unit as presented in the Statement of Comprehensive Income represents the increase (decrease) in net assets attributable to holders of redeemable units for the period divided by the weighted average number of units outstanding during the period.

4. Financial instrument risk

The Funds' investments in financial instruments create a direct exposure to a variety of risks. The Funds may also make investments in other underlying funds. The financial instruments which constitute these other underlying funds generally expose the Funds to indirect risks resulting from currency, interest rate, other price risk and credit risk.

287 Market disruptions associated with the COVID-19 pandemic have had a global impact, and uncertainty exists as to the long-term implications. Such disruptions can adversely affect assets of the Funds and thus performance of the Funds.

The Manager seeks to minimize potential adverse effects of risk on the Funds' performance by employing professional, experienced portfolio advisors; by daily monitoring of the Funds' positions and market events; by diversifying the investment portfolio within the constraints of the investment objectives; and by periodically using derivatives to economically hedge certain risk exposures.

Market risk (a) Currency risk Currency risk arises from financial instruments that are denominated in currencies other than the Canadian dollar, which is the Funds’ functional and reporting currency and may fluctuate owing to changes in exchange rates. The Fund may enter into foreign currency contracts for hedging purposes, which can include the economic hedging of all or a portion of the currency exposure of an investment or group of investments. The Fund may also enter into these contracts for non-hedging purposes, which can include increasing the exposure to a foreign currency, or the shifting of exposure to foreign currency fluctuations from one country to another.

The tables below indicate the currencies to which certain Funds had exposure either directly or indirectly and the notional value of foreign currency contracts; they also summarize each Fund’s sensitivity to a +/–5% change in currency exchange rate effect on net assets where the Fund is exposed directly to currency risk:

Vanguard FTSE Canada All Cap Index ETF As at June 30, 2021 Foreign Currency Contracts/ % of +/–5% Currency Investments Cash Futures Net Net Assets Impact U.S. Dollar 52,520 1,654,394 — 1,706,914 0.0 85,346 Total 52,520 1,654,394 — 1,706,914 0.0 85,346

As at December 31, 2020 Foreign Currency Contracts/ % of +/–5% Currency Investments Cash Futures Net Net Assets Impact U.S. Dollar — 3,132,902 — 3,132,902 0.1 156,645 Total — 3,132,902 — 3,132,902 0.1 156,645

Vanguard FTSE Canada Index ETF As at June 30, 2021 Foreign Currency Contracts/ % of +/–5% Currency Investments Cash Futures Net Net Assets Impact U.S. Dollar — 464,143 — 464,143 0.0 23,207 Total — 464,143 — 464,143 0.0 23,207

As at December 31, 2020 Foreign Currency Contracts/ % of +/–5% Currency Investments Cash Futures Net Net Assets Impact U.S. Dollar 415,565 970,670 (1,018,292) 367,943 0.0 18,397 Total 415,565 970,670 (1,018,292) 367,943 0.0 18,397

Vanguard FTSE Canadian Capped REIT Index ETF As at June 30, 2021 Foreign Currency Contracts/ % of +/–5% Currency Investments Cash Futures Net Net Assets Impact U.S. Dollar — 24,353 — 24,353 0.0 1,218

288 Vanguard FTSE Canadian Capped REIT Index ETF As at June 30, 2021 Foreign Currency Contracts/ % of +/–5% Currency Investments Cash Futures Net Net Assets Impact Total — 24,353 — 24,353 0.0 1,218

As at December 31, 2020 Foreign Currency Contracts/ % of +/–5% Currency Investments Cash Futures Net Net Assets Impact U.S. Dollar — 11,051 — 11,051 0.0 553 Total — 11,051 — 11,051 0.0 553

Vanguard FTSE Canadian High Dividend Yield Index ETF As at June 30, 2021 Foreign Currency Contracts/ % of +/–5% Currency Investments Cash Futures Net Net Assets Impact U.S. Dollar — 128,476 — 128,476 0.0 6,424 Total — 128,476 — 128,476 0.0 6,424

As at December 31, 2020 Foreign Currency Contracts/ % of +/–5% Currency Investments Cash Futures Net Net Assets Impact U.S. Dollar 83,368 27,671 — 111,039 0.0 5,552 Total 83,368 27,671 — 111,039 0.0 5,552

Vanguard FTSE Developed All Cap ex North America Index ETF As at June 30, 2021 Foreign Currency Contracts/ % of +/–5% Currency Investments Cash Futures Net Net Assets Impact Australian Dollar 174,660,897 254,344 — 174,915,241 7.2 8,745,762 Danish Krone 54,606,899 31,973 — 54,638,872 2.2 2,731,944 Euro 708,555,783 644,994 (1,737,728) 707,463,049 29.0 35,373,152 Hong Kong Dollar 73,502,271 185,035 — 73,687,306 3.0 3,684,365 Israeli Shekel 13,670,823 19,793 — 13,690,616 0.6 684,531 Japanese Yen 561,829,814 2,183,682 (4,260,355) 559,753,141 22.9 27,987,657 New Zealand Dollar 8,841,152 29,366 — 8,870,518 0.4 443,526 Norwegian Krone 19,721,149 22,946 — 19,744,095 0.8 987,205 Polish Zloty 7,956,839 41,783 — 7,998,622 0.3 399,931 Pound Sterling 343,782,033 86,769 — 343,868,802 14.1 17,193,440 Singapore Dollar 26,438,362 133,500 — 26,571,862 1.1 1,328,593 South Korean Won 150,477,298 61,344 — 150,538,642 6.2 7,526,932 Swedish Krona 91,193,261 43,979 (35,324) 91,201,916 3.7 4,560,096 Swiss Franc 202,106,161 46,516 (1,732,328) 200,420,349 8.2 10,021,017 U.S. Dollar 3,395,496 11,207,589 10,322,979 24,926,064 1.0 1,246,303 Total 2,440,738,238 14,993,613 2,557,244 2,458,289,095 100.7 122,914,454

289 Vanguard FTSE Developed All Cap ex North America Index ETF As at December 31, 2020 Foreign Currency Contracts/ % of +/–5% Currency Investments Cash Futures Net Net Assets Impact Australian Dollar 126,898,576 21,677 — 126,920,253 7.0 6,346,013 Danish Krone 39,667,597 18,279 — 39,685,876 2.2 1,984,294 Euro 505,440,234 157,624 (1,842,222) 503,755,636 27.9 25,187,782 Hong Kong Dollar 53,293,697 366,209 — 53,659,906 3.0 2,682,995 Israeli Shekel 9,230,934 18,555 — 9,249,489 0.5 462,474 Japanese Yen 438,670,365 2,464 (2,489,487) 436,183,342 24.2 21,809,167 New Zealand Dollar 7,514,275 17,896 — 7,532,171 0.4 376,609 Norwegian Krone 13,811,183 17,800 — 13,828,983 0.8 691,449 Polish Zloty 5,540,302 16,680 — 5,556,982 0.3 277,849 Pound Sterling 245,750,281 67,437 — 245,817,718 13.6 12,290,886 Singapore Dollar 19,405,958 38,633 — 19,444,591 1.1 972,230 South Korean Won 109,665,722 630,947 — 110,296,669 6.1 5,514,833 Swedish Krona 61,637,830 4,730 — 61,642,560 3.4 3,082,128 Swiss Franc 149,527,349 16,957 — 149,544,306 8.3 7,477,215 U.S. Dollar 3,561,508 7,610,059 4,285,872 15,457,439 0.9 772,872 Total 1,789,615,811 9,005,947 (45,837) 1,798,575,921 99.7 89,928,796

Vanguard FTSE Developed All Cap ex North America Index ETF (CAD-hedged) As at June 30, 2021 Foreign Currency Contracts/ % of +/–5% Currency Investments Cash Futures Net Net Assets Impact Australian Dollar 14,900,350 — (14,868,955) 31,395 0.0 1,570 Danish Krone 4,654,473 — (4,661,056) (6,583) (0.0) 329 Euro 60,414,060 — (60,947,062) (533,002) (0.3) 26,650 Hong Kong Dollar 6,277,135 — (6,281,910) (4,775) (0.0) 239 Israeli Shekel 1,166,250 — (1,171,842) (5,592) (0.0) 280 Japanese Yen 48,046,120 — (48,049,131) (3,011) (0.0) 151 New Zealand Dollar 755,645 — (745,950) 9,695 0.0 485 Norwegian Krone 1,681,923 — (1,697,413) (15,490) (0.0) 775 Polish Zloty 681,372 — (699,283) (17,911) (0.0) 896 Pound Sterling 29,292,848 — (29,641,568) (348,720) (0.2) 17,436 Singapore Dollar 2,263,554 — (2,232,072) 31,482 0.0 1,574 South Korean Won 12,823,802 — (12,841,838) (18,036) (0.0) 902 Swedish Krona 7,772,146 — (7,811,547) (39,401) (0.0) 1,970 Swiss Franc 17,220,602 — (17,357,739) (137,137) (0.1) 6,857 U.S. Dollar 1,243,980 21,575 (226,591) 1,038,964 0.5 51,948 Total 209,194,260 21,575 (209,233,957) (18,122) (0.1) 908

As at December 31, 2020 Foreign Currency Contracts/ % of Currency Investments Cash Futures Net Net Assets +/–5% Impact Australian Dollar 12,085,784 — (12,363,262) (277,478) (0.2) 13,874 Danish Krone 3,779,026 — (3,801,601) (22,575) (0.0) 1,129 Euro 48,144,769 — (48,678,043) (533,274) (0.3) 26,664 Hong Kong Dollar 5,109,681 — (5,156,605) (46,924) (0.0) 2,346 Israeli Shekel 880,768 — (896,024) (15,256) (0.0) 763 Japanese Yen 41,771,937 — (42,140,271) (368,334) (0.2) 18,417

290 Vanguard FTSE Developed All Cap ex North America Index ETF (CAD-hedged) As at December 31, 2020 Foreign Currency Contracts/ % of Currency Investments Cash Futures Net Net Assets +/–5% Impact New Zealand Dollar 717,239 — (726,761) (9,522) (0.0) 476 Norwegian Krone 1,316,843 — (1,326,577) (9,734) (0.0) 487 Polish Zloty 529,155 — (531,410) (2,255) (0.0) 113 Pound Sterling 23,407,610 — (24,073,445) (665,835) (0.4) 33,292 Singapore Dollar 1,851,581 — (1,876,806) (25,225) (0.0) 1,261 South Korean Won 10,502,829 — (10,531,010) (28,181) (0.0) 1,409 Swedish Krona 5,869,817 — (5,913,751) (43,934) (0.0) 2,197 Swiss Franc 14,240,124 — (14,379,474) (139,350) (0.1) 6,968 U.S. Dollar 1,063,795 22,197 (224,122) 861,870 0.5 43,094 Total 171,270,958 22,197 (172,619,162) (1,326,007) (0.7) 66,302

Vanguard FTSE Developed All Cap ex U.S. Index ETF As at June 30, 2021 Foreign Currency Contracts/ % of +/–5% Currency Investments Cash Futures Net Net Assets Impact Australian Dollar 26,003,735 — — 26,003,735 6.4 1,300,187 Danish Krone 8,135,006 — — 8,135,006 2.0 406,750 Euro 106,649,622 — — 106,649,622 26.2 5,332,481 Hong Kong Dollar 10,997,847 — — 10,997,847 2.7 549,892 Israeli Shekel 2,048,698 — — 2,048,698 0.5 102,435 Japanese Yen 83,700,516 — — 83,700,516 20.5 4,185,026 New Zealand Dollar 1,309,558 — — 1,309,558 0.3 65,478 Norwegian Krone 2,958,449 — — 2,958,449 0.7 147,922 Polish Zloty 1,200,624 — — 1,200,624 0.3 60,031 Pound Sterling 50,162,158 — — 50,162,158 12.3 2,508,108 Singapore Dollar 3,969,422 — — 3,969,422 1.0 198,471 South Korean Won 22,181,249 — — 22,181,249 5.4 1,109,062 Swedish Krona 14,151,475 — — 14,151,475 3.5 707,574 Swiss Franc 30,006,915 — — 30,006,915 7.4 1,500,346 U.S. Dollar 7,431,872 (2,629,955) — 4,801,917 1.2 240,096 Total 370,907,146 (2,629,955) — 368,277,191 90.4 18,413,859

As at December 31, 2020 Foreign Currency Contracts/ % of Currency Investments Cash Futures Net Net Assets +/–5% Impact Australian Dollar 23,039,336 — — 23,039,336 6.3 1,151,967 Danish Krone 7,169,246 — — 7,169,246 2.0 358,462 Euro 92,775,010 — — 92,775,010 25.5 4,638,751 Hong Kong Dollar 9,723,344 — — 9,723,344 2.7 486,167 Israeli Shekel 1,698,058 — — 1,698,058 0.5 84,903 Japanese Yen 79,827,721 — — 79,827,721 21.9 3,991,386 New Zealand Dollar 1,367,826 — — 1,367,826 0.4 68,391 Norwegian Krone 2,521,166 — — 2,521,166 0.7 126,058 Polish Zloty 1,006,704 — — 1,006,704 0.3 50,335 Pound Sterling 43,334,759 — — 43,334,759 11.9 2,166,738 Singapore Dollar 3,531,630 — — 3,531,630 1.0 176,582 South Korean Won 19,658,414 — — 19,658,414 5.4 982,921

291 Vanguard FTSE Developed All Cap ex U.S. Index ETF As at December 31, 2020 Foreign Currency Contracts/ % of Currency Investments Cash Futures Net Net Assets +/–5% Impact Swedish Krona 11,576,111 — — 11,576,111 3.2 578,806 Swiss Franc 27,023,903 — — 27,023,903 7.4 1,351,195 U.S. Dollar 10,263,336 2,675,210 (2,380,323) 10,558,223 2.9 527,911 Total 334,516,564 2,675,210 (2,380,323) 334,811,451 92.1 16,740,573

Vanguard FTSE Developed All Cap ex U.S. Index ETF (CAD-hedged) As at June 30, 2021 Foreign Currency Contracts/ % of +/–5% Currency Investments Cash Futures Net Net Assets Impact Australian Dollar 33,798,488 — (34,259,348) (460,860) (0.1) 23,043 Danish Krone 10,573,515 — (10,739,473) (165,958) (0.0) 8,298 Euro 138,618,393 — (140,427,260) (1,808,867) (0.3) 90,443 Hong Kong Dollar 14,294,508 — (14,474,057) (179,549) (0.0) 8,977 Israeli Shekel 2,662,806 — (2,700,019) (37,213) (0.0) 1,861 Japanese Yen 108,790,174 — (110,709,318) (1,919,144) (0.4) 95,957 New Zealand Dollar 1,702,105 — (1,718,734) (16,629) (0.0) 831 Norwegian Krone 3,845,260 — (3,910,988) (65,728) (0.0) 3,286 Polish Zloty 1,560,517 — (1,611,208) (50,691) (0.0) 2,535 Pound Sterling 65,198,521 — (68,296,718) (3,098,197) (0.6) 154,910 Singapore Dollar 5,159,277 — (5,142,885) 16,392 0.0 820 South Korean Won 28,830,192 — (29,588,696) (758,504) (0.1) 37,925 Swedish Krona 18,393,451 — (17,998,474) 394,977 0.1 19,749 Swiss Franc 39,001,640 — (39,993,715) (992,075) (0.2) 49,604 U.S. Dollar 9,659,614 153,667 (2,447,224) 7,366,057 1.4 368,303 Total 482,088,461 153,667 (484,018,117) (1,775,989) (0.2) 88,798

As at December 31, 2020 Foreign Currency Contracts/ % of Currency Investments Cash Futures Net Net Assets +/–5% Impact Australian Dollar 27,321,722 — (28,494,399) (1,172,677) (0.3) 58,634 Danish Krone 8,501,814 — (8,761,791) (259,977) (0.1) 12,999 Euro 110,019,363 — (112,191,396) (2,172,033) (0.5) 108,602 Hong Kong Dollar 11,530,650 — (11,884,757) (354,107) (0.1) 17,705 Israeli Shekel 2,013,681 — (2,065,124) (51,443) (0.0) 2,572 Japanese Yen 94,665,526 — (97,123,379) (2,457,853) (0.6) 122,893 New Zealand Dollar 1,622,068 — (1,675,013) (52,945) (0.0) 2,647 Norwegian Krone 2,989,782 — (3,057,446) (67,664) (0.0) 3,383 Polish Zloty 1,193,823 — (1,224,773) (30,950) (0.0) 1,548 Pound Sterling 51,389,513 — (55,483,610) (4,094,097) (0.9) 204,705 Singapore Dollar 4,188,064 — (4,325,595) (137,531) (0.0) 6,877 South Korean Won 23,312,379 — (24,247,421) (935,042) (0.2) 46,752 Swedish Krona 13,727,795 — (13,629,800) 97,995 0.0 4,900 Swiss Franc 32,046,912 — (33,141,295) (1,094,383) (0.3) 54,719 U.S. Dollar 12,171,011 74,587 (4,381,352) 7,864,246 1.8 393,212 Total 396,694,103 74,587 (401,687,151) (4,918,461) (1.2) 245,924

292 Vanguard FTSE Developed Asia Pacific All Cap Index ETF As at June 30, 2021 Foreign Currency Contracts/ % of +/–5% Currency Investments Cash Futures Net Net Assets Impact Australian Dollar 17,433,487 30,977 655,262 18,119,726 18.0 905,986 Euro 9,434 2,258 — 11,692 0.0 585 Hong Kong Dollar 7,335,431 29,926 279,846 7,645,203 7.6 382,260 Japanese Yen 56,115,593 343,802 2,220,413 58,679,808 58.4 2,933,990 New Zealand Dollar 881,310 7,526 45,390 934,226 0.9 46,711 Singapore Dollar 2,656,852 28,494 114,292 2,799,638 2.8 139,982 South Korean Won 15,063,827 80,867 496,790 15,641,484 15.6 782,074 U.S. Dollar 269,259 867,393 (741,976) 394,676 0.4 19,734 Total 99,765,193 1,391,243 3,070,017 104,226,453 103.7 5,211,322

As at December 31, 2020 Foreign Currency Contracts/ % of +/–5% Currency Investments Cash Futures Net Net Assets Impact Australian Dollar 14,100,177 22,890 104,984 14,228,051 16.8 711,403 Euro — — (4,939) (4,939) (0.0) 247 Hong Kong Dollar 5,928,204 54,597 (15,699) 5,967,102 7.1 298,355 Japanese Yen 48,471,698 58,295 91,873 48,621,866 57.5 2,431,093 New Zealand Dollar 834,814 3,888 — 838,702 1.0 41,935 Singapore Dollar 2,150,171 6,073 — 2,156,244 2.5 107,812 South Korean Won 12,146,065 34,395 (93,868) 12,086,592 14.3 604,330 U.S. Dollar 295,010 340,259 (72,326) 562,943 0.7 28,147 Total 83,926,139 520,397 10,025 84,456,561 99.9 4,222,828

Vanguard FTSE Developed Europe All Cap Index ETF As at June 30, 2021 Foreign Currency Contracts/ % of +/–5% Currency Investments Cash Futures Net Net Assets Impact Danish Krone 6,492,617 14,400 (152,749) 6,354,268 3.7 317,713 Euro 84,171,252 74,566 (571,919) 83,673,899 48.8 4,183,695 Norwegian Krone 2,350,796 7,997 (27,781) 2,331,012 1.4 116,551 Polish Zloty 951,990 3,137 — 955,127 0.6 47,756 Pound Sterling 41,060,107 53,298 (367,557) 40,745,848 23.8 2,037,292 Swedish Krona 10,844,892 36,723 (206,153) 10,675,462 6.2 533,773 Swiss Franc 24,056,871 19,023 (703,872) 23,372,022 13.6 1,168,601 U.S. Dollar — 393,240 31,900 425,140 0.2 21,257 Total 169,928,525 602,384 (1,998,131) 168,532,778 98.3 8,426,638

As at December 31, 2020 Foreign Currency Contracts/ % of +/–5% Currency Investments Cash Futures Net Net Assets Impact Australian Dollar — 14,747 (14,747) — 0.0 — Danish Krone 5,833,792 1,083 (70,105) 5,764,770 3.8 288,239 Euro 74,451,252 149,972 450,467 75,051,691 49.0 3,752,585 Norwegian Krone 2,054,641 8,344 (4,463) 2,058,522 1.3 102,926 Polish Zloty 817,089 3,126 — 820,215 0.5 41,011

293 Vanguard FTSE Developed Europe All Cap Index ETF As at December 31, 2020 Foreign Currency Contracts/ % of +/–5% Currency Investments Cash Futures Net Net Assets Impact Pound Sterling 36,417,891 63,535 281,757 36,763,183 24.0 1,838,159 Swedish Krona 9,068,004 7,808 (38,498) 9,037,314 5.9 451,866 Swiss Franc 22,080,405 5,477 (743,721) 21,342,161 13.9 1,067,108 U.S. Dollar — 798,512 (808,136) (9,624) (0.0) 481 Total 150,723,074 1,052,604 (947,446) 150,828,232 98.4 7,541,413

Vanguard FTSE Developed ex North America High Dividend Yield Index ETF As at June 30, 2021 Foreign Currency Contracts/ % of +/–5% Currency Investments Cash Futures Net Net Assets Impact Australian Dollar 3,266,039 5,665 (16,848) 3,254,856 10.6 162,743 Danish Krone 70,212 567 — 70,779 0.2 3,539 Euro 8,956,666 3,389 (32,031) 8,928,024 29.0 446,401 Hong Kong Dollar 885,061 8,274 (3,203) 890,132 2.9 44,507 Israeli Shekel 52,277 414 — 52,691 0.2 2,635 Japanese Yen 4,857,785 41,525 (45,669) 4,853,641 15.8 242,682 New Zealand Dollar 86,043 805 — 86,848 0.3 4,342 Norwegian Krone 381,089 1,266 (1,079) 381,276 1.2 19,064 Polish Zloty 30,398 32 — 30,430 0.1 1,522 Pound Sterling 5,949,945 9,560 (50,099) 5,909,406 19.2 295,470 Singapore Dollar 559,491 4,002 (3,225) 560,268 1.8 28,013 South Korean Won 602,898 484 — 603,382 2.0 30,169 Swedish Krona 635,403 73 — 635,476 2.1 31,774 Swiss Franc 4,204,419 344 (29,213) 4,175,550 13.6 208,778 U.S. Dollar 183,143 289,306 (106,019) 366,430 1.2 18,322 Total 30,720,869 365,706 (287,386) 30,799,189 100.2 1,539,961

As at December 31, 2020 Foreign Currency Contracts/ % of +/–5% Currency Investments Cash Futures Net Net Assets Impact Australian Dollar 1,756,154 7,238 (6,814) 1,756,578 10.5 87,829 Danish Krone 65,577 163 — 65,740 0.4 3,287 Euro 5,236,443 8,911 (6,537) 5,238,817 31.5 261,941 Hong Kong Dollar 453,656 3,683 (3,371) 453,968 2.7 22,698 Israeli Shekel 50,901 549 — 51,450 0.3 2,573 Japanese Yen 2,728,990 130,954 (135,750) 2,724,194 16.4 136,210 New Zealand Dollar 57,214 1,018 (599) 57,633 0.3 2,882 Norwegian Krone 199,668 1,631 (1,210) 200,089 1.2 10,004 Polish Zloty 53,520 148 — 53,668 0.3 2,683 Pound Sterling 3,430,048 14,037 (13,614) 3,430,471 20.6 171,524 Singapore Dollar 303,738 1,037 — 304,775 1.8 15,239 South Korean Won 484,790 1,239 — 486,029 2.9 24,301 Swedish Krona 378,021 2,550 (2,132) 378,439 2.3 18,922 Swiss Franc 1,172,572 2,764 (2,344) 1,172,992 7.0 58,650 U.S. Dollar 113,380 81,256 34,476 229,112 1.4 11,456 Total 16,484,672 257,178 (137,895) 16,603,955 99.6 830,199

294 Vanguard FTSE Emerging Markets All Cap Index ETF As at June 30, 2021 Foreign Currency Contracts/ % of +/–5% Currency Investments Cash Futures Net Net Assets Impact Australian Dollar 2,541 — — 2,541 0.0 127 Brazilian Real 94,397,064 — — 94,397,064 5.9 4,719,853 Chilean Peso 7,876,823 — — 7,876,823 0.5 393,841 Colombian Peso 2,315,663 — — 2,315,663 0.1 115,783 Czech Koruna 2,152,912 — — 2,152,912 0.1 107,646 Egyptian Pound 1,526,240 — — 1,526,240 0.1 76,312 Euro 4,763,438 — — 4,763,438 0.3 238,172 Hong Kong Dollar 433,582,110 — — 433,582,110 27.0 21,679,106 Hungarian Forint 3,786,556 — — 3,786,556 0.2 189,328 Indian Rupee 198,339,917 — — 198,339,917 12.3 9,916,996 Indonesian Rupiah 19,911,542 — — 19,911,542 1.2 995,577 Kuwaiti Dinar 10,153,878 — — 10,153,878 0.6 507,694 Malaysian Ringgit 28,674,441 — — 28,674,441 1.8 1,433,722 Mexican Peso 33,355,640 — — 33,355,640 2.1 1,667,782 New Russian Ruble 37,299,087 — — 37,299,087 2.3 1,864,954 New Taiwan Dollar 249,267,253 — — 249,267,253 15.5 12,463,363 New Turkish Lira 7,317,211 — — 7,317,211 0.5 365,861 Pakistan Rupee 1,295,532 — — 1,295,532 0.1 64,777 Philippine Peso 13,178,663 — — 13,178,663 0.8 658,933 Polish Zloty 78,399 — — 78,399 0.0 3,920 Pound Sterling 1 — — 1 0.0 0 Qatari Rial 11,427,840 — — 11,427,840 0.7 571,392 Romanian Leu 546,022 — — 546,022 0.0 27,301 Saudi Riyal 52,434,993 — — 52,434,993 3.3 2,621,750 Singapore Dollar 573,527 — — 573,527 0.0 28,676 South African Rand 64,680,254 — — 64,680,254 4.0 3,234,013 Thailand Baht 38,561,037 — — 38,561,037 2.4 1,928,052 U.S. Dollar 164,813,376 1,323,321 3,238,936 169,375,633 10.5 8,468,782 UAE Dirham 11,938,238 — — 11,938,238 0.7 596,912 Yuan Renminbi 112,074,236 — — 112,074,236 7.0 5,603,712 Total 1,606,324,434 1,323,321 3,238,936 1,610,886,691 100.0 80,544,337

As at December 31, 2020 Foreign Currency Contracts/ % of Currency Investments Cash Futures Net Net Assets +/–5% Impact Brazilian Real 68,420,360 — — 68,420,360 5.4 3,421,018 Chilean Peso 7,064,004 — — 7,064,004 0.6 353,200 Colombian Peso 2,964,247 — — 2,964,247 0.2 148,212 Czech Koruna 1,531,716 — — 1,531,716 0.1 76,586 Egyptian Pound 1,515,064 — — 1,515,064 0.1 75,753 Euro 3,785,355 — — 3,785,355 0.3 189,268 Hong Kong Dollar 293,047,469 — — 293,047,469 23.0 14,652,373 Hungarian Forint 2,882,815 — — 2,882,815 0.2 144,141 Indian Rupee 137,294,951 — — 137,294,951 10.8 6,864,748 Indonesian Rupiah 20,045,563 — — 20,045,563 1.6 1,002,278 Kuwaiti Dinar 7,520,739 — — 7,520,739 0.6 376,037 Malaysian Ringgit 27,511,569 — — 27,511,569 2.2 1,375,578 Mexican Peso 26,626,541 — — 26,626,541 2.1 1,331,327

295 Vanguard FTSE Emerging Markets All Cap Index ETF As at December 31, 2020 Foreign Currency Contracts/ % of Currency Investments Cash Futures Net Net Assets +/–5% Impact New Russian Ruble 26,300,285 — — 26,300,285 2.1 1,315,014 New Taiwan Dollar 177,835,192 — — 177,835,192 14.0 8,891,760 New Turkish Lira 7,787,818 — — 7,787,818 0.6 389,391 Pakistan Rupee 1,132,697 — — 1,132,697 0.1 56,635 Philippine Peso 12,015,470 — — 12,015,470 0.9 600,774 Polish Zloty 73,142 — — 73,142 0.0 3,657 Pound Sterling 1 — — 1 0.0 0 Qatari Rial 10,231,252 — — 10,231,252 0.8 511,563 Romanian Leu 362,194 — — 362,194 0.0 18,110 Saudi Riyal 36,225,723 — — 36,225,723 2.8 1,811,286 Singapore Dollar 364,851 — — 364,851 0.0 18,243 South African Rand 51,059,619 — — 51,059,619 4.0 2,552,981 Thailand Baht 33,527,279 — — 33,527,279 2.6 1,676,364 U.S. Dollar 216,227,960 6,479,384 (2,524,386) 220,182,958 17.3 11,009,148 UAE Dirham 8,632,530 — — 8,632,530 0.7 431,627 Yuan Renminbi 89,019,460 — — 89,019,460 7.0 4,450,973 Total 1,271,005,866 6,479,384 (2,524,386) 1,274,960,864 100.1 63,748,045

Vanguard FTSE Global All Cap ex Canada Index ETF As at June 30, 2021 Foreign Currency Contracts/ % of +/–5% Currency Investments Cash Futures Net Net Assets Impact U.S. Dollar 864,265,091 290,422 3,470,580 868,026,093 70.9 43,401,305 Total 864,265,091 290,422 3,470,580 868,026,093 70.9 43,401,305

As at December 31, 2020 Foreign Currency Contracts/ % of +/–5% Currency Investments Cash Futures Net Net Assets Impact U.S. Dollar 720,980,293 (1,368,683) (191,980) 719,419,630 69.8 35,970,982 Total 720,980,293 (1,368,683) (191,980) 719,419,630 69.8 35,970,982

Vanguard Global ex-U.S. Aggregate Bond Index ETF (CAD-hedged) As at June 30, 2021 Foreign Currency Contracts/ % of +/–5% Currency Investments Cash Futures Net Net Assets Impact Australian Dollar 19,180,092 — — 19,180,092 3.3 959,005 Colombian Peso 1,173,313 — — 1,173,313 0.2 58,666 Czech Koruna 1,705,630 — — 1,705,630 0.3 85,282 Danish Krone 3,018,804 — — 3,018,804 0.5 150,940 Euro 314,137,132 — — 314,137,132 54.2 15,706,857 Hong Kong Dollar 233,585 — — 233,585 0.0 11,679 Hungarian Forint 1,167,414 — — 1,167,414 0.2 58,371 Indonesian Rupiah 4,876,448 — — 4,876,448 0.8 243,822 Israeli Shekel 1,898,923 — — 1,898,923 0.3 94,946 Italian Lira 16,026 — — 16,026 0.0 801

296 Vanguard Global ex-U.S. Aggregate Bond Index ETF (CAD-hedged) As at June 30, 2021 Foreign Currency Contracts/ % of +/–5% Currency Investments Cash Futures Net Net Assets Impact Japanese Yen 94,902,026 — — 94,902,026 16.4 4,745,101 Malaysian Ringgit 4,063,894 — — 4,063,894 0.7 203,195 Mexican Peso 3,113,831 — — 3,113,831 0.5 155,692 New Russian Ruble 2,175,395 — — 2,175,395 0.4 108,770 New Zealand Dollar 2,134,671 — — 2,134,671 0.4 106,734 Norwegian Krone 1,353,131 — — 1,353,131 0.2 67,657 Peruvian Nuevo Sol 780,169 — — 780,169 0.1 39,008 Polish Zloty 2,179,012 — — 2,179,012 0.4 108,951 Pound Sterling 46,046,641 — — 46,046,641 7.9 2,302,332 Singapore Dollar 2,729,153 — — 2,729,153 0.5 136,458 South African Rand 167 — — 167 0.0 8 South Korean Won 15,939,002 — — 15,939,002 2.8 796,950 Swedish Krona 5,531,922 — — 5,531,922 1.0 276,596 Swiss Franc 6,407,892 — — 6,407,892 1.1 320,395 Thailand Baht 3,703,473 — — 3,703,473 0.6 185,174 U.S. Dollar 4,448,862 57,028 (592,370,279) (587,864,389) (101.5) 29,393,219 Yuan Renminbi 4,537,733 — — 4,537,733 0.8 226,887 Total 547,454,341 57,028 (592,370,279) (44,858,910) (7.9) 2,242,942

As at December 31, 2020 Foreign Currency Contracts/ % of Currency Investments Cash Futures Net Net Assets +/–5% Impact Australian Dollar 15,699,788 — — 15,699,788 3.3 784,989 Colombian Peso 1,168,907 — — 1,168,907 0.2 58,445 Czech Koruna 1,192,840 — — 1,192,840 0.3 59,642 Danish Krone 2,515,383 — — 2,515,383 0.5 125,769 Euro 251,935,770 — — 251,935,770 53.2 12,596,789 Hong Kong Dollar 93,141 — — 93,141 0.0 4,657 Hungarian Forint 823,017 — — 823,017 0.2 41,151 Indonesian Rupiah 3,534,704 — — 3,534,704 0.7 176,735 Israeli Shekel 1,598,276 — — 1,598,276 0.3 79,914 Italian Lira 15,632 — — 15,632 0.0 782 Japanese Yen 80,159,240 — — 80,159,240 16.9 4,007,962 Malaysian Ringgit 3,180,614 — — 3,180,614 0.7 159,031 Mexican Peso 2,888,331 — — 2,888,331 0.6 144,417 New Russian Ruble 1,671,141 — — 1,671,141 0.4 83,557 New Zealand Dollar 1,541,283 — — 1,541,283 0.3 77,064 Norwegian Krone 1,026,246 — — 1,026,246 0.2 51,312 Peruvian Nuevo Sol 609,284 — — 609,284 0.1 30,464 Polish Zloty 1,853,559 — — 1,853,559 0.4 92,678 Pound Sterling 37,568,050 — — 37,568,050 7.9 1,878,403 Singapore Dollar 2,018,794 — — 2,018,794 0.4 100,940 South African Rand 92 — — 92 0.0 5 South Korean Won 12,615,854 — — 12,615,854 2.7 630,793 Swedish Krona 4,968,216 — — 4,968,216 1.0 248,411 Swiss Franc 5,601,059 — — 5,601,059 1.2 280,053 Thailand Baht 3,226,476 — — 3,226,476 0.7 161,324 U.S. Dollar 5,775,726 (877,935) (457,467,226) (452,569,435) (95.6) 22,628,472

297 Vanguard Global ex-U.S. Aggregate Bond Index ETF (CAD-hedged) As at December 31, 2020 Foreign Currency Contracts/ % of Currency Investments Cash Futures Net Net Assets +/–5% Impact Yuan Renminbi 3,301,128 — — 3,301,128 0.7 165,056 Total 446,582,551 (877,935) (457,467,226) (11,762,610) (2.7) 588,129

Vanguard S&P 500 Index ETF As at June 30, 2021 Foreign Currency Contracts/ % of +/–5% Currency Investments Cash Futures Net Net Assets Impact U.S. Dollar 5,000,727,232 1,203,456 22,052,361 5,023,983,049 100.4 251,199,152 Total 5,000,727,232 1,203,456 22,052,361 5,023,983,049 100.4 251,199,152

As at December 31, 2020 Foreign Currency Contracts/ % of Currency Investments Cash Futures Net Net Assets +/–5% Impact U.S. Dollar 3,687,743,705 12,278,405 (451,207) 3,699,570,903 100.3 184,978,545 Total 3,687,743,705 12,278,405 (451,207) 3,699,570,903 100.3 184,978,545

Vanguard S&P 500 Index ETF (CAD-hedged) As at June 30, 2021 Foreign Currency Contracts/ % of +/–5% Currency Investments Cash Futures Net Net Assets Impact U.S. Dollar 1,774,101,775 2,221,207 (1,813,306,006) (36,983,024) (2.1) 1,849,151 Total 1,774,101,775 2,221,207 (1,813,306,006) (36,983,024) (2.1) 1,849,151

As at December 31, 2020 Foreign Currency Contracts/ % of Currency Investments Cash Futures Net Net Assets +/–5% Impact U.S. Dollar 1,436,083,569 4,853,995 (1,409,918,565) 31,018,999 2.2 1,550,950 Total 1,436,083,569 4,853,995 (1,409,918,565) 31,018,999 2.2 1,550,950

Vanguard U.S. Aggregate Bond Index ETF (CAD-hedged) As at June 30, 2021 Foreign Currency Contracts/ % of +/–5% Currency Investments Cash Futures Net Net Assets Impact U.S. Dollar 728,575,957 85,988 (761,751,432) (33,089,487) (4.5) 1,654,474 Total 728,575,957 85,988 (761,751,432) (33,089,487) (4.5) 1,654,474

As at December 31, 2020 Foreign Currency Contracts/ % of Currency Investments Cash Futures Net Net Assets +/–5% Impact U.S. Dollar 661,329,075 (879,731) (636,159,590) 24,289,754 3.7 1,214,488 Total 661,329,075 (879,731) (636,159,590) 24,289,754 3.7 1,214,488

298 Vanguard U.S. Dividend Appreciation Index ETF As at June 30, 2021 Foreign Currency Contracts/ % of +/–5% Currency Investments Cash Futures Net Net Assets Impact U.S. Dollar 845,217,744 494,338 — 845,712,082 100.0 42,285,604 Total 845,217,744 494,338 — 845,712,082 100.0 42,285,604

As at December 31, 2020 Foreign Currency Contracts/ % of Currency Investments Cash Futures Net Net Assets +/–5% Impact U.S. Dollar 757,351,868 420,134 (581,779) 757,190,223 100.0 37,859,511 Total 757,351,868 420,134 (581,779) 757,190,223 100.0 37,859,511

Vanguard U.S. Dividend Appreciation Index ETF (CAD-hedged) As at June 30, 2021 Foreign Currency Contracts/ % of +/–5% Currency Investments Cash Futures Net Net Assets Impact U.S. Dollar 426,357,827 213,083 (435,995,925) (9,425,015) (2.2) 471,251 Total 426,357,827 213,083 (435,995,925) (9,425,015) (2.2) 471,251

As at December 31, 2020 Foreign Currency Contracts/ % of Currency Investments Cash Futures Net Net Assets +/–5% Impact U.S. Dollar 393,672,777 164,551 (388,634,681) 5,202,647 1.3 260,132 Total 393,672,777 164,551 (388,634,681) 5,202,647 1.3 260,132

Vanguard U.S. Total Market Index ETF As at June 30, 2021 Foreign Currency Contracts/ % of +/–5% Currency Investments Cash Futures Net Net Assets Impact U.S. Dollar 4,275,501,691 925,756 8,254,547 4,284,681,994 100.2 214,234,100 Total 4,275,501,691 925,756 8,254,547 4,284,681,994 100.2 214,234,100

As at December 31, 2020 Foreign Currency Contracts/ % of Currency Investments Cash Futures Net Net Assets +/–5% Impact U.S. Dollar 3,042,437,547 193,407 (4,879,112) 3,037,751,842 99.8 151,887,592 Total 3,042,437,547 193,407 (4,879,112) 3,037,751,842 99.8 151,887,592

Vanguard U.S. Total Market Index ETF (CAD-hedged) As at June 30, 2021 Foreign Currency Contracts/ % of +/–5% Currency Investments Cash Futures Net Net Assets Impact U.S. Dollar 1,045,225,692 124,281 (1,070,280,036) (24,930,063) (2.4) 1,246,503 Total 1,045,225,692 124,281 (1,070,280,036) (24,930,063) (2.4) 1,246,503

299 Vanguard U.S. Total Market Index ETF (CAD-hedged) As at December 31, 2020 Foreign Currency Contracts/ % of Currency Investments Cash Futures Net Net Assets +/–5% Impact U.S. Dollar 820,832,812 2,804,138 (805,055,008) 18,581,942 2.3 929,097 Total 820,832,812 2,804,138 (805,055,008) 18,581,942 2.3 929,097

(b) Interest rate risk Interest rate risk is the risk that the fair value of interest-bearing financial instruments will fluctuate because of changes in market interest rates.

The Funds may also be exposed indirectly to interest rate risk if they invest in underlying funds in the event that the underlying funds invest in debt instruments and derivatives.

If the prevailing interest rates had been raised or lowered by 1%, assuming a parallel shift in the yield curve, with all other factors remaining constant, net assets could possibly have decreased or increased. Each Fund’s interest rate sensitivity was determined based on the weighted average duration of the portfolio. There is minimum sensitivity to interest rate risk on cash invested in short-term market rate investments.

Vanguard Global Aggregate Bond Index ETF (CAD-hedged) had no direct investment in debt securities, but was exposed to indirect interest rate risk as the underlying funds invest in debt instruments.

The tables below summarize only those Funds with direct or indirect exposure to interest rate risk:

Vanguard Canadian Aggregate Bond Index ETF As at June 30, 2021 Less Than 1–3 3–5 More Than +/–1% 1 Year Ye a r s Ye a r s 5 Years Total Impact Debt investments — 748,511,347 620,029,056 1,997,728,790 3,366,269,193 277,380,582

As at December 31, 2020 Less Than 1–3 3–5 More Than +/–1% 1 Year Ye a r s Ye a r s 5 Years Total Impact Debt investments — 683,472,171 604,358,545 1,934,915,913 3,222,746,629 272,612,137

Vanguard Canadian Corporate Bond Index ETF As at June 30, 2021 Less Than 1–3 3–5 More Than +/–1% 1 Year Ye a r s Ye a r s 5 Years Total Impact Debt investments — 35,365,344 37,594,995 85,934,144 158,894,483 9,565,448

As at December 31, 2020 Less Than 1–3 3–5 More Than +/–1% 1 Year Ye a r s Ye a r s 5 Years Total Impact Debt investments — 16,578,461 17,305,321 40,434,305 74,318,087 4,621,842

Vanguard Canadian Government Bond Index ETF As at June 30, 2021 Less Than 1–3 3–5 More Than +/–1% 1 Year Ye a r s Ye a r s 5 Years Total Impact Debt investments — 10,832,793 8,661,003 29,969,426 49,463,222 4,431,905

As at December 31, 2020 Less Than 1–3 3–5 More Than +/–1% 1 Year Ye a r s Ye a r s 5 Years Total Impact Debt investments — 15,147,625 13,039,303 45,035,040 73,221,968 6,717,383

300 Vanguard Canadian Long-Term Bond Index ETF As at June 30, 2021 Less Than 1–3 3–5 More Than +/–1% 1 Year Ye a r s Ye a r s 5 Years Total Impact Debt investments — — — 51,338,482 51,338,482 8,209,023

As at December 31, 2020 Less Than 1–3 3–5 More Than +/–1% 1 Year Ye a r s Ye a r s 5 Years Total Impact Debt investments — — — 50,475,404 50,475,404 8,218,910

Vanguard Canadian Short-Term Bond Index ETF As at June 30, 2021 Less Than 1–3 3–5 More Than +/–1% 1 Year Ye a r s Ye a r s 5 Years Total Impact Debt investments — 707,171,019 535,794,214 53,795,914 1,296,761,147 36,438,988

As at December 31, 2020 Less Than 1–3 3–5 More Than +/–1% 1 Year Ye a r s Ye a r s 5 Years Total Impact Debt investments — 623,071,102 527,127,435 53,947,433 1,204,145,970 34,125,497

Vanguard Canadian Short-Term Corporate Bond Index ETF As at June 30, 2021 Less Than 1–3 3–5 More Than +/–1% 1 Year Ye a r s Ye a r s 5 Years Total Impact Debt investments — 534,269,965 570,988,489 182,277,969 1,287,536,423 36,952,295

As at December 31, 2020 Less Than 1–3 3–5 More Than +/–1% 1 Year Ye a r s Ye a r s 5 Years Total Impact Debt investments — 499,834,303 547,965,459 166,623,566 1,214,423,328 34,817,517

Vanguard Global ex-U.S. Aggregate Bond Index ETF (CAD-hedged) As at June 30, 2021 Less Than 1–3 3–5 More Than +/–1% 1 Year Ye a r s Ye a r s 5 Years Total Impact Debt investments 3,628,694 114,927,527 99,278,787 349,148,354 566,983,362 47,513,206

As at December 31, 2020 Less Than 1–3 3–5 More Than +/–1% 1 Year Ye a r s Ye a r s 5 Years Total Impact Debt investments 11,581,936 88,247,789 84,402,773 284,671,798 468,904,296 39,950,646

Vanguard U.S. Aggregate Bond Index ETF (CAD-hedged) As at June 30, 2021 Less Than 1–3 3–5 More Than +/–1% 1 Year Ye a r s Ye a r s 5 Years Total Impact Debt investments 4,721,063 152,163,489 182,160,397 387,272,422 726,317,371 49,316,949

As at December 31, 2020 Less Than 1–3 3–5 More Than +/–1% 1 Year Ye a r s Ye a r s 5 Years Total Impact Debt investments 7,349,562 163,875,361 186,188,895 304,708,853 662,122,671 43,236,610

301 (c) Other price risk Other price risk is the risk that the fair values of future cash flows of financial instruments will fluctuate as a result of changes in market prices (other than those arising from interest rate risk or currency risk), whether caused by factors specific to an individual investment or its issuer, or all factors affecting all instruments traded in a market or market segment. All securities present a risk of loss of capital; however, the Funds' investments in equities are more susceptible to market risk arising from uncertainties about future prices (other than interest or currency). The Manager mitigates this risk through the use of investment strategies that seek to minimize the Funds' tracking error versus market indexes within the parameters of the investment strategy. The maximum exposure resulting from a financial instrument is equivalent to its fair value.

The table below summarizes management's estimate of the effect on net assets of a 10% change in the quoted prices of each Fund's investments in equities and exchange-traded funds, whether directly or indirectly, with all other variables held constant:

As at June 30, 2021

Fund +/–10% Impact Vanguard FTSE Canada All Cap Index ETF 397,536,939 Vanguard FTSE Canada Index ETF 104,053,416 Vanguard FTSE Canadian Capped REIT Index ETF 31,996,119 Vanguard FTSE Canadian High Dividend Yield Index ETF 113,324,896 Vanguard FTSE Developed All Cap ex North America Index ETF 244,073,824 Vanguard FTSE Developed All Cap ex North America Index ETF (CAD-hedged) 20,919,426 Vanguard FTSE Developed All Cap ex U.S. Index ETF 40,756,971 Vanguard FTSE Developed All Cap ex U.S. Index ETF (CAD-hedged) 52,974,082 Vanguard FTSE Developed Asia Pacific All Cap Index ETF 9,976,519 Vanguard FTSE Developed Europe All Cap Index ETF 16,992,853 Vanguard FTSE Developed ex North America High Dividend Yield Index ETF 3,072,087 Vanguard FTSE Emerging Markets All Cap Index ETF 160,632,443 Vanguard FTSE Global All Cap ex Canada Index ETF 122,034,197 Vanguard Global Aggregate Bond Index ETF (CAD-hedged) 4,868,327 Vanguard S&P 500 Index ETF 500,072,723 Vanguard S&P 500 Index ETF (CAD-hedged) 177,410,178 Vanguard U.S. Dividend Appreciation Index ETF 84,521,774 Vanguard U.S. Dividend Appreciation Index ETF (CAD-hedged) 42,635,783 Vanguard U.S. Total Market Index ETF 427,550,169 Vanguard U.S. Total Market Index ETF (CAD-hedged) 104,522,569

302 As at December 31, 2020

Fund +/–10% Impact Vanguard FTSE Canada All Cap Index ETF 288,797,001 Vanguard FTSE Canada Index ETF 74 , 7 8 1 , 14 1 Vanguard FTSE Canadian Capped REIT Index ETF 26,216,116 Vanguard FTSE Canadian High Dividend Yield Index ETF 70,487,835 Vanguard FTSE Developed All Cap ex North America Index ETF 178,898,779 Vanguard FTSE Developed All Cap ex North America Index ETF (CAD-hedged) 17,127,096 Vanguard FTSE Developed All Cap ex U.S. Index ETF 36,410,309 Vanguard FTSE Developed All Cap ex U.S. Index ETF (CAD-hedged) 43,177,996 Vanguard FTSE Developed Asia Pacific All Cap Index ETF 8,388,652 Vanguard FTSE Developed Europe All Cap Index ETF 15,072,307 Vanguard FTSE Developed ex North America High Dividend Yield Index ETF 1,648,467 Vanguard FTSE Emerging Markets All Cap Index ETF 127,100,587 Vanguard FTSE Global All Cap ex Canada Index ETF 103,073,015 Vanguard Global Aggregate Bond Index ETF (CAD-hedged) 4,247,732 Vanguard S&P 500 Index ETF 368,774,371 Vanguard S&P 500 Index ETF (CAD-hedged) 143,608,357 Vanguard U.S. Dividend Appreciation Index ETF 75,735,187 Vanguard U.S. Dividend Appreciation Index ETF (CAD-hedged) 39,367,278 Vanguard U.S. Total Market Index ETF 304,243,755 Vanguard U.S. Total Market Index ETF (CAD-hedged) 82,083,281

(d) Credit risk The Funds are exposed to credit risk, which is the risk that one party to a financial instrument will cause a financial loss for the other party by failing to discharge an obligation. All transactions in listed securities are settled or paid for upon delivery using approved brokers. The risk of default is considered minimal, as delivery of securities sold is made primarily through redemption of units once the broker has delivered payments. Payment is made on a purchase primarily through issuance of units once the securities have been delivered by the broker. The trade will fail if either party fails to meet its obligation.

Credit risk arises from investments in foreign currency contracts and debt securities and is mitigated by investing primarily in instruments issued by counterparties who have been rated by third-party rating agencies as “investment-grade” or above. The Funds also enter into master netting arrangements with those counterparties, and require its counterparties to transfer collateral as security for their performance. The value of securities pledged or received as collateral for open foreign currency contracts is disclosed in note 6. Securities pledged by counterparties is not reflected in the Statements of Financial Position. The Funds are also exposed to counterparty credit risk on cash and amounts due from broker. The Funds continuously monitor the credit standing of each counterparty.

As at June 30, 2021 and December 31, 2020, Vanguard Global Aggregate Bond Index ETF (CAD-hedged) had no direct investment in debt securities, but was exposed to indirect credit risk as the underlying funds invest in debt instruments.

For Funds invested in debt securities, whether directly or indirectly, the following is an analysis of the concentration of issuer credit ratings:

Vanguard Canadian Aggregate Bond Index ETF June 30, 2021 December 31, 2020 Portfolio by rating category % of Total Net Assets % of Total Net Assets AAA 38.6 37.4 AA 36.3 37.6 A 15.0 14.0 BBB 10.6 10.1 Less than BBB 0.0 0.0 NR —0.2 Tot al 100.5 99.3

303 Vanguard Canadian Corporate Bond Index ETF June 30, 2021 December 31, 2020 Portfolio by rating category % of Total Net Assets % of Total Net Assets AAA 5.2 3.9 AA 11.1 11.6 A 37.8 36.5 BBB 45.1 42.8 Less than BBB 0.5 0.3 NR —4.0 Tot al 99.7 99.1

Vanguard Canadian Government Bond Index ETF June 30, 2021 December 31, 2020 Portfolio by rating category % of Total Net Assets % of Total Net Assets AAA 50.2 48.3 AA 45.4 45.6 A 5.2 5.5 BBB 0.2 0.2 NR —0.0 Tot al 101.0 99.6

Vanguard Canadian Long-Term Bond Index ETF June 30, 2021 December 31, 2020 Portfolio by rating category % of Total Net Assets % of Total Net Assets AAA 20.2 22.0 AA 57.2 55.5 A 13.4 13.1 BBB 8.5 7.8 NR —0.8 Tot al 99.3 99.2

Vanguard Canadian Short-Term Bond Index ETF June 30, 2021 December 31, 2020 Portfolio by rating category % of Total Net Assets % of Total Net Assets AAA 53.7 50.9 AA 22.3 23.2 A 15.4 14.6 BBB 10.6 10.0 Less than BBB 0.1 0.0 NR —0.8 Tot al 102.1 99.5

Vanguard Canadian Short-Term Corporate Bond Index ETF June 30, 2021 December 31, 2020 Portfolio by rating category % of Total Net Assets % of Total Net Assets AAA 7. 7 5 . 5 AA 15.0 18.4 A 44.4 40.3 BBB 32.9 31.6 Less than BBB 0.7 0.1 NR —3.2 Tot al 100.7 99.1

304 Vanguard Global ex-U.S. Aggregate Bond Index ETF (CAD-hedged) June 30, 2021 December 31, 2020 Portfolio by rating category % of Total Net Assets % of Total Net Assets AAA 21.1 20.2 AA 26.2 25.8 A 28.6 23.2 BBB 19.0 28.7 Less than BBB 1. 4 — NR 1. 6 — Tot al 97.9 97.9

Vanguard U.S. Aggregate Bond Index ETF (CAD-hedged) June 30, 2021 December 31, 2020 Portfolio by rating category % of Total Net Assets % of Total Net Assets AAA 68.3 63.4 AA 3.4 3.6 A 11.8 12.7 BBB 16.1 20.5 Less than BBB 0.0 — Tot al 99.6 100.2

(e) Liquidity risk Liquidity risk arises because of redemption requests and distributions.

Liquidity risk is the possibility that investments in the Funds cannot be readily converted into cash when required. The Funds will endeavor to maintain sufficient liquidity to meet expenses and redemption of units. However, unexpectedly heavy demand for redemptions of units could result in the Funds having to dispose of investments at a time when it is not optimal to do so in order to meet such redemption requests. The Funds primarily invest in securities that are traded in active markets and can be readily disposed.

Additionally, the Funds may use futures contracts to maintain full exposure to the stock market, maintain liquidity and minimize transaction costs. Funds may purchase futures contracts to immediately invest incoming cash in the market, or sell futures in response to cash outflows, thereby simulating a fully invested position in the underlying index while maintaining a cash balance for liquidity.

As at June 30, 2021, and December 31, 2020, where applicable, the Funds did not have a significant amount of financial liabilities with maturities greater than three months.

5. Fair value

The following tables categorize financial instruments recorded at fair value on the Statement of Financial Position into one of the three fair value hierarchy levels as discussed in the Summary of Significant Accounting Policies. There were no significant transfers between levels for any of the periods presented below:

Assets at Fair Value as at June 30, 2021 Level 1 Level 2 Level 3 Total Vanguard Canadian Aggregate Bond Index ETF Fixed income — 3,366,269,193 — 3,366,269,193 Tot al — 3,366,269,193 — 3,366,269,193

Vanguard Canadian Corporate Bond Index ETF Fixed income — 158,894,483 — 158,894,483 Tot al — 158,894,483 — 158,894,483

Vanguard Canadian Government Bond Index ETF Fixed income — 49,463,222 — 49,463,222 Tot al — 49,463,222 — 49,463,222

305 Assets at Fair Value as at June 30, 2021 Level 1 Level 2 Level 3 Total Vanguard Canadian Long-Term Bond Index ETF Fixed income — 51,338,482 — 51,338,482 Tot al — 51,338,482 — 51,338,482

Vanguard Canadian Short-Term Bond Index ETF Fixed income — 1,296,761,147 — 1,296,761,147 Tot al — 1,296,761,147 — 1,296,761,147

Vanguard Canadian Short-Term Corporate Bond Index ETF Fixed income — 1,287,536,423 — 1,287,536,423 Tot al — 1,287,536,423 — 1,287,536,423

Vanguard FTSE Canada All Cap Index ETF Equities 3,975,369,389 — — 3,975,369,389 Unrealized appreciation of futures contracts 47,969 — — 47,969 Tot al 3,975,417,358 — — 3,975,417,358

Vanguard FTSE Canada Index ETF Equities 1,040,534,156 — — 1,040,534,156 Unrealized appreciation of futures contracts 43,379 — — 43,379 Tot al 1,040,577,535 — — 1,040,577,535

Vanguard FTSE Canadian Capped REIT Index ETF Equities 319,961,190 — — 319,961,190 Unrealized appreciation of futures contracts 800 — — 800 Tot al 319,961,990 — — 319,961,990

Vanguard FTSE Canadian High Dividend Yield Index ETF Equities 1,133,248,962 — — 1,133,248,962 Unrealized appreciation of futures contracts 39,292 — — 39,292 Tot al 1,133,288,254 — — 1,133,288,254

Vanguard FTSE Developed All Cap ex North America Index ETF Equities 2,433,844,514 6,872,677 21,047 2,440,738,238 Unrealized appreciation of foreign currency contracts — 78,697 — 78,697 Unrealized depreciation of foreign currency contracts — (2,705) — (2,705) Unrealized depreciation of futures contracts (18,748) — — (18,748) Tot al 2,433,825,766 6,948,669 21,047 2,440,795,482

Vanguard FTSE Developed All Cap ex North America Index ETF (CAD-hedged) Exchange-traded funds 209,194,260 — — 209,194,260 Unrealized appreciation of foreign currency contracts — 420,680 — 420,680 Unrealized depreciation of foreign currency contracts — (1,262,342) — (1,262,342) Tot al 209,194,260 (841,662) — 208,352,598

Vanguard FTSE Developed All Cap ex U.S. Index ETF Exchange-traded funds 407,569,714 — — 407,569,714 Tot al 407,569,714 — — 407,569,714

306 Assets at Fair Value as at June 30, 2021 Level 1 Level 2 Level 3 Total Vanguard FTSE Developed All Cap ex U.S. Index ETF (CAD-hedged) Exchange-traded funds 529,740,821 — — 529,740,821 Unrealized appreciation of foreign currency contracts — 979,284 — 979,284 Unrealized depreciation of foreign currency contracts — (2,934,056) — (2,934,056) Tot al 529,740,821 (1,954,772) — 527,786,049

Vanguard FTSE Developed Asia Pacific All Cap Index ETF Equities 99,759,565 — 5,628 99,765,193 Unrealized appreciation of foreign currency contracts — 2,969 — 2,969 Unrealized depreciation of foreign currency contracts — (25,730) — (25,730) Unrealized appreciation of futures contracts 1,605 — — 1,605 Unrealized depreciation of futures contracts (5,728) — — (5,728) Tot al 99,755,442 (22,761) 5,628 99,738,309

Vanguard FTSE Developed Europe All Cap Index ETF Equities 167,179,512 2,748,567 446 169,928,525 Unrealized appreciation of foreign currency contracts — 24,577 — 24,577 Unrealized depreciation of foreign currency contracts — (28,635) — (28,635) Unrealized depreciation of futures contracts (19,344) — — (19,344) Tot al 167,160,168 2,744,509 446 169,905,123

Vanguard FTSE Developed ex North America High Dividend Yield Index ETF Equities 30,599,537 14,761 — 30,614,298 Exchange-traded funds 106,571 — — 106,571 Unrealized appreciation of foreign currency contracts — 3,405 — 3,405 Unrealized depreciation of foreign currency contracts — (1) — (1) Unrealized appreciation of futures contracts 210 — — 210 Tot al 30,706,318 18,165 — 30,724,483

Vanguard FTSE Emerging Markets All Cap Index ETF Exchange-traded funds 1,606,324,434 — — 1,606,324,434 Unrealized appreciation of foreign currency contracts — 131 — 131 Tot al 1,606,324,434 131 — 1,606,324,565

Vanguard FTSE Global All Cap ex Canada Index ETF Exchange-traded funds 1,220,341,969 — — 1,220,341,969 Unrealized appreciation of foreign currency contracts — 1,117 — 1,117 Unrealized appreciation of futures contracts 9,946 — — 9,946 Tot al 1,220,351,915 1,117 — 1,220,353,032

Vanguard Global Aggregate Bond Index ETF (CAD-hedged) Exchange-traded funds 48,683,274 — — 48,683,274 Tot al 48,683,274 — — 48,683,274

Vanguard Global ex-U.S. Aggregate Bond Index ETF (CAD-hedged) Exchange-traded funds 579,500,575 — — 579,500,575 Unrealized appreciation of foreign currency contracts — 626,880 — 626,880 Unrealized depreciation of foreign currency contracts — (15,592,582) — (15,592,582) Tot al 579,500,575 (14,965,702) — 564,534,873

307 Assets at Fair Value as at June 30, 2021 Level 1 Level 2 Level 3 Total Vanguard S&P 500 Index ETF Exchange-traded funds 5,000,727,232 — — 5,000,727,232 Unrealized appreciation of foreign currency contracts — 9,738 — 9,738 Unrealized depreciation of foreign currency contracts — (4,592) — (4,592) Unrealized appreciation of futures contracts 16,107 — — 16,107 Tot al 5,000,743,339 5,146 — 5,000,748,485

Vanguard S&P 500 Index ETF (CAD-hedged) Exchange-traded funds 1,774,101,775 — — 1,774,101,775 Unrealized appreciation of foreign currency contracts — 133,606 — 133,606 Unrealized depreciation of foreign currency contracts — (43,693,473) — (43,693,473) Unrealized appreciation of futures contracts 16,090 — — 16,090 Tot al 1,774,117,865 (43,559,867) — 1,730,557,998

Vanguard U.S. Aggregate Bond Index ETF (CAD-hedged) Exchange-traded funds 728,575,957 — — 728,575,957 Unrealized appreciation of foreign currency contracts — 1,042,780 — 1,042,780 Unrealized depreciation of foreign currency contracts — (20,688,424) — (20,688,424) Tot al 728,575,957 (19,645,644) — 708,930,313

Vanguard U.S. Dividend Appreciation Index ETF Exchange-traded funds 845,217,744 — — 845,217,744 Tot al 845,217,744 — — 845,217,744

Vanguard U.S. Dividend Appreciation Index ETF (CAD-hedged) Exchange-traded funds 426,357,827 — — 426,357,827 Unrealized appreciation of foreign currency contracts — 62,890 — 62,890 Unrealized depreciation of foreign currency contracts — (10,673,848) — (10,673,848) Tot al 426,357,827 (10,610,958) — 415,746,869

Vanguard U.S. Total Market Index ETF Exchange-traded funds 4,275,501,691 — — 4,275,501,691 Unrealized appreciation of foreign currency contracts — 3,390 — 3,390 Unrealized depreciation of foreign currency contracts — (0) — (0) Tot al 4,275,501,691 3,390 — 4,275,505,081

Vanguard U.S. Total Market Index ETF (CAD-hedged) Exchange-traded funds 1,045,225,692 — — 1,045,225,692 Unrealized appreciation of foreign currency contracts — 64,639 — 64,639 Unrealized depreciation of foreign currency contracts — (25,387,241) — (25,387,241) Tot al 1,045,225,692 (25,322,602) — 1,019,903,090

Assets at Fair Value as at December 31, 2020 Level 1 Level 2 Level 3 Total Vanguard Canadian Aggregate Bond Index ETF Fixed income — 3,222,746,629 — 3,222,746,629 Tot al — 3,222,746,629 — 3,222,746,629

308 Assets at Fair Value as at December 31, 2020 Level 1 Level 2 Level 3 Total Vanguard Canadian Corporate Bond Index ETF Fixed income — 74,318,087 — 74,318,087 Tot al — 74,318,087 — 74,318,087

Vanguard Canadian Government Bond Index ETF Fixed income — 73,221,968 — 73,221,968 Tot al — 73,221,968 — 73,221,968

Vanguard Canadian Long-Term Bond Index ETF Fixed income — 50,475,404 — 50,475,404 Tot al — 50,475,404 — 50,475,404

Vanguard Canadian Short-Term Bond Index ETF Fixed income — 1,204,145,970 — 1,204,145,970 Tot al — 1,204,145,970 — 1,204,145,970

Vanguard Canadian Short-Term Corporate Bond Index ETF Fixed income — 1,214,423,328 — 1,214,423,328 Tot al — 1,214,423,328 — 1,214,423,328

Vanguard FTSE Canada All Cap Index ETF Equities 2,887,762,390 — 207,622 2,887,970,012 Unrealized depreciation of futures contracts (43,557) — — (43,557) Tot al 2,887,718,833 — 207,622 2,887,926,455

Vanguard FTSE Canada Index ETF Equities 747,742,124 — 69,287 747,811,411 Short-term — 415,565 — 415,565 Unrealized appreciation of foreign currency contracts — 2,416 — 2,416 Unrealized depreciation of futures contracts (7,919) — — (7,919) Tot al 747,734,205 417,981 69,287 748,221,473

Vanguard FTSE Canadian Capped REIT Index ETF Equities 262,161,157 — — 262,161,157 Unrealized depreciation of futures contracts (6,187) — — (6,187) Tot al 262,154,970 — — 262,154,970

Vanguard FTSE Canadian High Dividend Yield Index ETF Equities 704,878,351 — — 704,878,351 Short-term — 83,367 — 83,367 Unrealized depreciation of futures contracts (37,452) — — (37,452) Tot al 704,840,899 83,367 — 704,924,266

Vanguard FTSE Developed All Cap ex North America Index ETF Equities 1,777,638,931 11,311,731 37,124 1,788,987,786 Short-term — 628,026 — 628,026 Unrealized depreciation of foreign currency contracts — (128,755) — (128,755) Unrealized appreciation of futures contracts 82,918 — — 82,918 Tot al 1,777,721,849 11,811,002 37,124 1,789,569,975

309 Assets at Fair Value as at December 31, 2020 Level 1 Level 2 Level 3 Total Vanguard FTSE Developed All Cap ex North America Index ETF (CAD-hedged) Exchange-traded funds 171,270,958 — — 171,270,958 Unrealized appreciation of foreign currency contracts — 462,764 — 462,764 Unrealized depreciation of foreign currency contracts — (1,039,859) — (1,039,859) Tot al 171,270,958 (577,095) — 170,693,863

Vanguard FTSE Developed All Cap ex U.S. Index ETF Exchange-traded funds 364,103,090 — — 364,103,090 Unrealized appreciation of foreign currency contracts — 4,801 — 4,801 Tot al 364,103,090 4,801 — 364,107,891

Vanguard FTSE Developed All Cap ex U.S. Index ETF (CAD-hedged) Exchange-traded funds 431,779,960 — — 431,779,960 Unrealized appreciation of foreign currency contracts — 1,063,166 — 1,063,166 Unrealized depreciation of foreign currency contracts — (2,383,798) — (2,383,798) Tot al 431,779,960 (1,320,632) — 430,459,328

Vanguard FTSE Developed Asia Pacific All Cap Index ETF Equities 83,872,707 — 13,814 83,886,521 Short-term — 39,618 — 39,618 Unrealized appreciation of foreign currency contracts — 11,084 — 11,084 Unrealized depreciation of foreign currency contracts — (12,205) — (12,205) Unrealized appreciation of futures contracts 12,935 — — 12,935 Unrealized depreciation of futures contracts (1,789) — — (1,789) Tot al 83,883,853 38,497 13,814 83,936,164

Vanguard FTSE Developed Europe All Cap Index ETF Equities 147,555,271 3,167,349 454 150,723,074 Unrealized appreciation of foreign currency contracts — 76,179 — 76,179 Unrealized depreciation of foreign currency contracts — (56,075) — (56,075) Unrealized appreciation of futures contracts 20,697 — — 20,697 Unrealized depreciation of futures contracts (10,879) — — (10,879) Tot al 147,565,089 3,187,453 454 150,752,996

Vanguard FTSE Developed ex North America High Dividend Yield Index ETF Equities 16,341,459 45,182 — 16,386,641 Exchange-traded funds 98,031 — — 98,031 Unrealized appreciation of foreign currency contracts — 210 — 210 Unrealized depreciation of foreign currency contracts — (240) — (240) Unrealized appreciation of futures contracts 2,437 — — 2,437 Tot al 16,441,927 45,152 — 16,487,079

Vanguard FTSE Emerging Markets All Cap Index ETF Exchange-traded funds 1,271,005,866 — — 1,271,005,866 Unrealized appreciation of foreign currency contracts — 15,439 — 15,439 Unrealized depreciation of foreign currency contracts — (7,400) — (7,400) Tot al 1,271,005,866 8,039 — 1,271,013,905

310 Assets at Fair Value as at December 31, 2020 Level 1 Level 2 Level 3 Total Vanguard FTSE Global All Cap ex Canada Index ETF Exchange-traded funds 1,030,730,148 — — 1,030,730,148 Unrealized appreciation of foreign currency contracts — 5,737 — 5,737 Unrealized depreciation of foreign currency contracts — (6,122) — (6,122) Tot al 1,030,730,148 (385) — 1,030,729,763

Vanguard Global Aggregate Bond Index ETF (CAD-hedged) Exchange-traded funds 42,477,320 — — 42,477,320 Tot al 42,477,320 — — 42,477,320

Vanguard Global ex-U.S. Aggregate Bond Index ETF (CAD-hedged) Exchange-traded funds 472,400,057 — — 472,400,057 Unrealized appreciation of foreign currency contracts — 8,434,328 — 8,434,328 Unrealized depreciation of foreign currency contracts — (509,675) — (509,675) Tot al 472,400,057 7,924,653 — 480,324,710

Vanguard S&P 500 Index ETF Exchange-traded funds 3,687,743,705 — — 3,687,743,705 Unrealized appreciation of foreign currency contracts — 27,177 — 27,177 Unrealized depreciation of foreign currency contracts — (16,215) — (16,215) Unrealized appreciation of futures contracts 25,753 — — 25,753 Tot al 3,687,769,458 10,962 — 3,687,780,420

Vanguard S&P 500 Index ETF (CAD-hedged) Exchange-traded funds 1,436,083,569 — — 1,436,083,569 Unrealized appreciation of foreign currency contracts — 23,453,341 — 23,453,341 Unrealized depreciation of foreign currency contracts — (533,770) — (533,770) Unrealized appreciation of futures contracts 21,479 — — 21,479 Tot al 1,436,105,048 22,919,571 — 1,459,024,619

Vanguard U.S. Aggregate Bond Index ETF (CAD-hedged) Exchange-traded funds 661,329,075 — — 661,329,075 Unrealized appreciation of foreign currency contracts — 11,790,789 — 11,790,789 Unrealized depreciation of foreign currency contracts — (744,958) — (744,958) Tot al 661,329,075 11,045,831 — 672,374,906

Vanguard U.S. Dividend Appreciation Index ETF Exchange-traded funds 757,351,868 — — 757,351,868 Unrealized appreciation of foreign currency contracts — 5,737 — 5,737 Tot al 757,351,868 5,737 — 757,357,605

Vanguard U.S. Dividend Appreciation Index ETF (CAD-hedged) Exchange-traded funds 393,672,777 — — 393,672,777 Unrealized appreciation of foreign currency contracts — 6,516,204 — 6,516,204 Unrealized depreciation of foreign currency contracts — (47,622) — (47,622) Tot al 393,672,777 6,468,582 — 400,141,359

311 Assets at Fair Value as at December 31, 2020 Level 1 Level 2 Level 3 Total Vanguard U.S. Total Market Index ETF Exchange-traded funds 3,042,437,547 — — 3,042,437,547 Unrealized appreciation of foreign currency contracts — 41,426 — 41,426 Unrealized depreciation of foreign currency contracts — (23,961) — (23,961) Tot al 3,042,437,547 17,465 — 3,042,455,012

Vanguard U.S. Total Market Index ETF (CAD-hedged) Exchange-traded funds 820,832,812 — — 820,832,812 Unrealized appreciation of foreign currency contracts — 13,137,413 — 13,137,413 Unrealized depreciation of foreign currency contracts — (17,601) — (17,601) Tot al 820,832,812 13,119,812 — 833,952,624

6. Offsetting

The following tables summarize the Funds' assets and liabilities for their financial instruments subject to agreements that provide for offsetting assets and liabilities. The "Net Exposure" column represents the net amount receivable from (payable to) the counterparty in the event of default.

Vanguard FTSE Canada Index ETF The Fund did not have amounts receivable from (payable to) a counterparty in the event of default as at June 30, 2021.

As at December 31, 2020 Gross Assets/ Net Assets/ Amounts Not Offset Liabilities Offset in Liabilities Reflected Collateral Gross Assets/ Statement of in Statement of Financial Pledged/ Financial assets and liabilities Liabilities Financial Position Financial Position Instruments (Received) Net Exposure Unrealized appreciation of foreign currency contracts 2,416 — 2,416 — — 2,416

Vanguard FTSE Developed All Cap ex North America Index ETF

As at June 30, 2021 Gross Assets/ Net Assets/ Amounts Not Offset Liabilities Offset in Liabilities Reflected Collateral Gross Assets/ Statement of in Statement of Financial Pledged/ Financial assets and liabilities Liabilities Financial Position Financial Position Instruments (Received) Net Exposure Unrealized appreciation of foreign currency contracts 78,697 — 78,697 (2,705) — 75,992 Unrealized depreciation of foreign currency contracts (2,705) — (2,705) 2,705 — —

As at December 31, 2020 Gross Assets/ Net Assets/ Amounts Not Offset Liabilities Offset in Liabilities Reflected Collateral Gross Assets/ Statement of in Statement of Financial Pledged/ Financial assets and liabilities Liabilities Financial Position Financial Position Instruments (Received) Net Exposure Unrealized depreciation of foreign currency contracts (128,755) — (128,755) — — (128,755)

Vanguard FTSE Developed All Cap ex North America Index ETF (CAD-hedged)

As at June 30, 2021 Gross Assets/ Net Assets/ Amounts Not Offset Liabilities Offset in Liabilities Reflected Collateral Gross Assets/ Statement of in Statement of Financial Pledged/ Financial assets and liabilities Liabilities Financial Position Financial Position Instruments (Received) Net Exposure Unrealized appreciation of foreign currency contracts 420,680 — 420,680 (420,533) — 147 Unrealized depreciation of foreign currency contracts (1,262,342) — (1,262,342) 420,533 831,846 (9,963)

312 Vanguard FTSE Developed All Cap ex North America Index ETF (CAD-hedged) As at December 31, 2020 Gross Assets/ Net Assets/ Amounts Not Offset Liabilities Offset in Liabilities Reflected Collateral Gross Assets/ Statement of in Statement of Financial Pledged/ Financial assets and liabilities Liabilities Financial Position Financial Position Instruments (Received) Net Exposure Unrealized appreciation of foreign currency contracts 462,764 — 462,764 (462,764) — — Unrealized depreciation of foreign currency contracts (1,039,859) — (1,039,859) 462,764 530,729 (46,366)

Vanguard FTSE Developed All Cap ex U.S. Index ETF The Fund did not have amounts receivable from (payable to) a counterparty in the event of default as at June 30, 2021.

As at December 31, 2020 Gross Assets/ Net Assets/ Amounts Not Offset Liabilities Offset in Liabilities Reflected Collateral Gross Assets/ Statement of in Statement of Financial Pledged/ Financial assets and liabilities Liabilities Financial Position Financial Position Instruments (Received) Net Exposure Unrealized appreciation of foreign currency contracts 4,801 — 4,801 — — 4,801

Vanguard FTSE Developed All Cap ex U.S. Index ETF (CAD-hedged)

As at June 30, 2021 Gross Assets/ Net Assets/ Amounts Not Offset Liabilities Offset in Liabilities Reflected Collateral Gross Assets/ Statement of in Statement of Financial Pledged/ Financial assets and liabilities Liabilities Financial Position Financial Position Instruments (Received) Net Exposure Unrealized appreciation of foreign currency contracts 979,284 — 979,284 (979,284) — — Unrealized depreciation of foreign currency contracts (2,934,056) — (2,934,056) 979,284 1,932,850 (21,922)

As at December 31, 2020 Gross Assets/ Net Assets/ Amounts Not Offset Liabilities Offset in Liabilities Reflected Collateral Gross Assets/ Statement of in Statement of Financial Pledged/ Financial assets and liabilities Liabilities Financial Position Financial Position Instruments (Received) Net Exposure Unrealized appreciation of foreign currency contracts 1,063,166 — 1,063,166 (1,063,166) — — Unrealized depreciation of foreign currency contracts (2,383,798) — (2,383,798) 1,063,166 1,208,801 (111,831)

Vanguard FTSE Developed Asia Pacific All Cap Index ETF

As at June 30, 2021 Gross Assets/ Net Assets/ Amounts Not Offset Liabilities Offset in Liabilities Reflected Collateral Gross Assets/ Statement of in Statement of Financial Pledged/ Financial assets and liabilities Liabilities Financial Position Financial Position Instruments (Received) Net Exposure Unrealized appreciation of foreign currency contracts 2,969 — 2,969 (874) — 2,095 Unrealized depreciation of foreign currency contracts (25,730) — (25,730) 874 — (24,856)

As at December 31, 2020 Gross Assets/ Net Assets/ Amounts Not Offset Liabilities Offset in Liabilities Reflected Collateral Gross Assets/ Statement of in Statement of Financial Pledged/ Financial assets and liabilities Liabilities Financial Position Financial Position Instruments (Received) Net Exposure Unrealized appreciation of foreign currency contracts 11,084 — 11,084 (7,410) — 3,674 Unrealized depreciation of foreign currency contracts (12,205) — (12,205) 7,410 — (4,795)

313 Vanguard FTSE Developed Europe All Cap Index ETF

As at June 30, 2021 Gross Assets/ Net Assets/ Amounts Not Offset Liabilities Offset in Liabilities Reflected Collateral Gross Assets/ Statement of in Statement of Financial Pledged/ Financial assets and liabilities Liabilities Financial Position Financial Position Instruments (Received) Net Exposure Unrealized appreciation of foreign currency contracts 24,577 — 24,577 (17,781) — 6,796 Unrealized depreciation of foreign currency contracts (28,635) — (28,635) 17,781 — (10,854)

As at December 31, 2020 Gross Assets/ Net Assets/ Amounts Not Offset Liabilities Offset in Liabilities Reflected Collateral Gross Assets/ Statement of in Statement of Financial Pledged/ Financial assets and liabilities Liabilities Financial Position Financial Position Instruments (Received) Net Exposure Unrealized appreciation of foreign currency contracts 76,179 — 76,179 (32,041) — 44,138 Unrealized depreciation of foreign currency contracts (56,075) — (56,075) 32,041 — (24,034)

Vanguard FTSE Developed ex North America High Dividend Yield Index ETF

As at June 30, 2021 Gross Assets/ Net Assets/ Amounts Not Offset Liabilities Offset in Liabilities Reflected Collateral Gross Assets/ Statement of in Statement of Financial Pledged/ Financial assets and liabilities Liabilities Financial Position Financial Position Instruments (Received) Net Exposure Unrealized appreciation of foreign currency contracts 3,405 — 3,405 (1) — 3,404 Unrealized depreciation of foreign currency contracts (1) — (1) 1 — —

As at December 31, 2020 Gross Assets/ Net Assets/ Amounts Not Offset Liabilities Offset in Liabilities Reflected Collateral Gross Assets/ Statement of in Statement of Financial Pledged/ Financial assets and liabilities Liabilities Financial Position Financial Position Instruments (Received) Net Exposure Unrealized appreciation of foreign currency contracts 210 — 210 (210) — — Unrealized depreciation of foreign currency contracts (240) — (240) 210 — (30)

Vanguard FTSE Emerging Markets All Cap Index ETF

As at June 30, 2021 Gross Assets/ Net Assets/ Amounts Not Offset Liabilities Offset in Liabilities Reflected Collateral Gross Assets/ Statement of in Statement of Financial Pledged/ Financial assets and liabilities Liabilities Financial Position Financial Position Instruments (Received) Net Exposure Unrealized appreciation of foreign currency contracts 131 — 131 — — 131

As at December 31, 2020 Gross Assets/ Net Assets/ Amounts Not Offset Liabilities Offset in Liabilities Reflected Collateral Gross Assets/ Statement of in Statement of Financial Pledged/ Financial assets and liabilities Liabilities Financial Position Financial Position Instruments (Received) Net Exposure Unrealized appreciation of foreign currency contracts 15,439 — 15,439 — — 15,439 Unrealized depreciation of foreign currency contracts (7,400) — (7,400) — — (7,400)

Vanguard FTSE Global All Cap ex Canada Index ETF

As at June 30, 2021 Gross Assets/ Net Assets/ Amounts Not Offset Liabilities Offset in Liabilities Reflected Collateral Gross Assets/ Statement of in Statement of Financial Pledged/ Financial assets and liabilities Liabilities Financial Position Financial Position Instruments (Received) Net Exposure Unrealized appreciation of foreign currency contracts 1,117 — 1,117 — — 1,117

314 Vanguard FTSE Global All Cap ex Canada Index ETF As at December 31, 2020 Gross Assets/ Net Assets/ Amounts Not Offset Liabilities Offset in Liabilities Reflected Collateral Gross Assets/ Statement of in Statement of Financial Pledged/ Financial assets and liabilities Liabilities Financial Position Financial Position Instruments (Received) Net Exposure Unrealized appreciation of foreign currency contracts 5,737 — 5,737 — — 5,737 Unrealized depreciation of foreign currency contracts (6,122) — (6,122) — — (6,122)

Vanguard Global ex-U.S. Aggregate Bond Index ETF (CAD-hedged)

As at June 30, 2021 Gross Assets/ Net Assets/ Amounts Not Offset Liabilities Offset in Liabilities Reflected Collateral Gross Assets/ Statement of in Statement of Financial Pledged/ Financial assets and liabilities Liabilities Financial Position Financial Position Instruments (Received) Net Exposure Unrealized appreciation of foreign currency contracts 626,880 — 626,880 (626,880) — — Unrealized depreciation of foreign currency contracts (15,592,582) — (15,592,582) 626,880 14,609,205 (356,497)

As at December 31, 2020 Gross Assets/ Net Assets/ Amounts Not Offset Liabilities Offset in Liabilities Reflected Collateral Gross Assets/ Statement of in Statement of Financial Pledged/ Financial assets and liabilities Liabilities Financial Position Financial Position Instruments (Received) Net Exposure Unrealized appreciation of foreign currency contracts 8,434,328 — 8,434,328 (505,849) (6,955,358) 973,121 Unrealized depreciation of foreign currency contracts (509,675) — (509,675) 505,849 — (3,826)

Vanguard S&P 500 Index ETF

As at June 30, 2021 Gross Assets/ Net Assets/ Amounts Not Offset Liabilities Offset in Liabilities Reflected Collateral Gross Assets/ Statement of in Statement of Financial Pledged/ Financial assets and liabilities Liabilities Financial Position Financial Position Instruments (Received) Net Exposure Unrealized appreciation of foreign currency contracts 9,738 — 9,738 — — 9,738 Unrealized depreciation of foreign currency contracts (4,592) — (4,592) — — (4,592)

As at December 31, 2020 Gross Assets/ Net Assets/ Amounts Not Offset Liabilities Offset in Liabilities Reflected Collateral Gross Assets/ Statement of in Statement of Financial Pledged/ Financial assets and liabilities Liabilities Financial Position Financial Position Instruments (Received) Net Exposure Unrealized appreciation of foreign currency contracts 27,177 — 27,177 — — 27,177 Unrealized depreciation of foreign currency contracts (16,215) — (16,215) — — (16,215)

Vanguard S&P 500 Index ETF (CAD-hedged)

As at June 30, 2021 Gross Assets/ Net Assets/ Amounts Not Offset Liabilities Offset in Liabilities Reflected Collateral Gross Assets/ Statement of in Statement of Financial Pledged/ Financial assets and liabilities Liabilities Financial Position Financial Position Instruments (Received) Net Exposure Unrealized appreciation of foreign currency contracts 133,606 — 133,606 (120,898) — 12,708 Unrealized depreciation of foreign currency contracts (43,693,473) — (43,693,473) 120,898 42,822,295 (750,280)

As at December 31, 2020 Gross Assets/ Net Assets/ Amounts Not Offset Liabilities Offset in Liabilities Reflected Collateral Gross Assets/ Statement of in Statement of Financial Pledged/ Financial assets and liabilities Liabilities Financial Position Financial Position Instruments (Received) Net Exposure Unrealized appreciation of foreign currency contracts 23,453,341 — 23,453,341 (531,472) (21,384,524) 1,537,345 Unrealized depreciation of foreign currency contracts (533,770) — (533,770) 531,472 — (2,298)

315 Vanguard U.S. Aggregate Bond Index ETF (CAD-hedged)

As at June 30, 2021 Gross Assets/ Net Assets/ Amounts Not Offset Liabilities Offset in Liabilities Reflected Collateral Gross Assets/ Statement of in Statement of Financial Pledged/ Financial assets and liabilities Liabilities Financial Position Financial Position Instruments (Received) Net Exposure Unrealized appreciation of foreign currency contracts 1,042,780 — 1,042,780 (1,042,780) — — Unrealized depreciation of foreign currency contracts (20,688,424) — (20,688,424) 1,042,780 19,286,802 (358,842)

As at December 31, 2020 Gross Assets/ Net Assets/ Amounts Not Offset Liabilities Offset in Liabilities Reflected Collateral Gross Assets/ Statement of in Statement of Financial Pledged/ Financial assets and liabilities Liabilities Financial Position Financial Position Instruments (Received) Net Exposure Unrealized appreciation of foreign currency contracts 11,790,789 — 11,790,789 (740,303) (9,428,719) 1,621,767 Unrealized depreciation of foreign currency contracts (744,958) — (744,958) 740,303 — (4,655)

Vanguard U.S. Dividend Appreciation Index ETF The Fund did not have amounts receivable from (payable to) a counterparty in the event of default as at June 30, 2021.

As at December 31, 2020 Gross Assets/ Net Assets/ Amounts Not Offset Liabilities Offset in Liabilities Reflected Collateral Gross Assets/ Statement of in Statement of Financial Pledged/ Financial assets and liabilities Liabilities Financial Position Financial Position Instruments (Received) Net Exposure Unrealized appreciation of foreign currency contracts 5,737 — 5,737 — — 5,737

Vanguard U.S. Dividend Appreciation Index ETF (CAD-hedged)

As at June 30, 2021 Gross Assets/ Net Assets/ Amounts Not Offset Liabilities Offset in Liabilities Reflected Collateral Gross Assets/ Statement of in Statement of Financial Pledged/ Financial assets and liabilities Liabilities Financial Position Financial Position Instruments (Received) Net Exposure Unrealized appreciation of foreign currency contracts 62,890 — 62,890 (60,404) — 2,486 Unrealized depreciation of foreign currency contracts (10,673,848) — (10,673,848) 60,404 10,303,971 (309,473)

As at December 31, 2020 Gross Assets/ Net Assets/ Amounts Not Offset Liabilities Offset in Liabilities Reflected Collateral Gross Assets/ Statement of in Statement of Financial Pledged/ Financial assets and liabilities Liabilities Financial Position Financial Position Instruments (Received) Net Exposure Unrealized appreciation of foreign currency contracts 6,516,204 — 6,516,204 (47,622) (6,065,578) 403,004 Unrealized depreciation of foreign currency contracts (47,622) — (47,622) 47,622 — —

Vanguard U.S. Total Market Index ETF

As at June 30, 2021 Gross Assets/ Net Assets/ Amounts Not Offset Liabilities Offset in Liabilities Reflected Collateral Gross Assets/ Statement of in Statement of Financial Pledged/ Financial assets and liabilities Liabilities Financial Position Financial Position Instruments (Received) Net Exposure Unrealized appreciation of foreign currency contracts 3,390 — 3,390 — — 3,390 Unrealized depreciation of foreign currency contracts (0) — (0) — — (0)

316 Vanguard U.S. Total Market Index ETF As at December 31, 2020 Gross Assets/ Net Assets/ Amounts Not Offset Liabilities Offset in Liabilities Reflected Collateral Gross Assets/ Statement of in Statement of Financial Pledged/ Financial assets and liabilities Liabilities Financial Position Financial Position Instruments (Received) Net Exposure Unrealized appreciation of foreign currency contracts 41,426 — 41,426 (18,431) — 22,995 Unrealized depreciation of foreign currency contracts (23,961) — (23,961) 18,431 — (5,530)

Vanguard U.S. Total Market Index ETF (CAD-hedged)

As at June 30, 2021 Gross Assets/ Net Assets/ Amounts Not Offset Liabilities Offset in Liabilities Reflected Collateral Gross Assets/ Statement of in Statement of Financial Pledged/ Financial assets and liabilities Liabilities Financial Position Financial Position Instruments (Received) Net Exposure Unrealized appreciation of foreign currency contracts 64,639 — 64,639 (29,412) — 35,227 Unrealized depreciation of foreign currency contracts (25,387,241) — (25,387,241) 29,412 24,970,418 (387,411)

As at December 31, 2020 Gross Assets/ Net Assets/ Amounts Not Offset Liabilities Offset in Liabilities Reflected Collateral Gross Assets/ Statement of in Statement of Financial Pledged/ Financial assets and liabilities Liabilities Financial Position Financial Position Instruments (Received) Net Exposure Unrealized appreciation of foreign currency contracts 13,137,413 — 13,137,413 (16,363) (12,407,834) 713,216 Unrealized depreciation of foreign currency contracts (17,601) — (17,601) 16,363 — (1,238)

7. Investments in underlying funds

Information about the Funds' interests in unconsolidated structured entities is included in the following tables. The fair value of a Fund's investments in each of its underlying funds represent the Fund's maximum exposure in these underlying funds.

Vanguard FTSE Developed All Cap ex North America Index ETF (CAD-hedged)

As at June 30, 2021 Country of Fair Value Establishment and % of of Fund's % of Principal Place Ownership in Investment in Net Assets of Net Assets of Business Underlying Fund Underlying Fund Underlying Fund Vanguard FTSE Developed All Cap ex North America Index ETF 100.0 Canada 8.6 209,194,260 2,443,343,354

As at December 31, 2020 Country of Fair Value Establishment and % of of Fund's % of Principal Place Ownership in Investment in Net Assets of Net Assets of Business Underlying Fund Underlying Fund Underlying Fund Vanguard FTSE Developed All Cap ex North America Index ETF 99.9 Canada 9.5 171,270,958 1,803,258,618

Vanguard FTSE Developed All Cap ex U.S. Index ETF

As at June 30, 2021 Country of Fair Value Establishment and % of of Fund's % of Principal Place Ownership in Investment in Net Assets of Net Assets of Business Underlying Fund Underlying Fund Underlying Fund Vanguard FTSE Developed Markets ETF 100.0 United States 0.3 407,569,714 125,099,303,181

317 As at December 31, 2020 Country of Fair Value Establishment and % of of Fund's % of Principal Place Ownership in Investment in Net Assets of Net Assets of Business Underlying Fund Underlying Fund Underlying Fund Vanguard FTSE Developed Markets ETF 99.9 United States 0.3 364,103,090 111,478,578,407

Vanguard FTSE Developed All Cap ex U.S. Index ETF (CAD-hedged)

As at June 30, 2021 Country of Fair Value Establishment and % of of Fund's % of Principal Place Ownership in Investment in Net Assets of Net Assets of Business Underlying Fund Underlying Fund Underlying Fund Vanguard FTSE Developed Markets ETF 100.0 United States 0.4 529,740,821 124,968,108,422

As at December 31, 2020 Country of Fair Value Establishment and % of of Fund's % of Principal Place Ownership in Investment in Net Assets of Net Assets of Business Underlying Fund Underlying Fund Underlying Fund Vanguard FTSE Developed Markets ETF 100.0 United States 0.4 431,779,960 111,574,914,793

Vanguard FTSE Developed ex North America High Dividend Yield Index ETF

As at June 30, 2021 Country of Fair Value Establishment and % of of Fund's % of Principal Place Ownership in Investment in Net Assets of Net Assets of Business Underlying Fund Underlying Fund Underlying Fund Vanguard International High Dividend Yield Index ETF 0.4 United States 0.0 106,571 3,210,901,315

As at December 31, 2020 Country of Fair Value Establishment and % of of Fund's % of Principal Place Ownership in Investment in Net Assets of Net Assets of Business Underlying Fund Underlying Fund Underlying Fund Vanguard International High Dividend Yield Index ETF 0.6 United States 0.0 98,031 2,177,632,964

Vanguard FTSE Emerging Markets All Cap Index ETF

As at June 30, 2021 Country of Fair Value Establishment and % of of Fund's % of Principal Place Ownership in Investment in Net Assets of Net Assets of Business Underlying Fund Underlying Fund Underlying Fund Vanguard FTSE Emerging Markets ETF 100.0 United States 1.5 1,606,324,434 104,229,242,583

As at December 31, 2020 Country of Fair Value Establishment and % of of Fund's % of Principal Place Ownership in Investment in Net Assets of Net Assets of Business Underlying Fund Underlying Fund Underlying Fund Vanguard FTSE Emerging Markets ETF 99.9 United States 1.4 1,271,005,866 90,982,503,453

318 Vanguard FTSE Global All Cap ex Canada Index ETF

As at June 30, 2021 Country of Fair Value Establishment and % of of Fund's % of Principal Place Ownership in Investment in Net Assets of Net Assets of Business Underlying Fund Underlying Fund Underlying Fund Vanguard FTSE Developed All Cap ex North America Index ETF 29.1 Canada 14.6 356,076,878 2,443,343,354 Vanguard FTSE Emerging Markets ETF 11.6 United States 0.1 142,399,578 104,229,242,583 Vanguard Large-Cap ETF 52.1 United States 2.1 638,918,618 30,534,342,239 Vanguard Small-Cap ETF 6.8 United States 0.1 82,946,895 58,384,160,167

As at December 31, 2020 Country of Fair Value Establishment and % of of Fund's % of Principal Place Ownership in Investment in Net Assets of Net Assets of Business Underlying Fund Underlying Fund Underlying Fund Vanguard FTSE Developed All Cap ex North America Index ETF 30.0 Canada 17.2 309,749,855 1,803,258,618 Vanguard FTSE Emerging Markets ETF 12.0 United States 0.1 123,843,079 90,982,503,453 Vanguard Large-Cap ETF 51.1 United States 1.9 526,501,477 27,418,259,942 Vanguard Small-Cap ETF 6.9 United States 0.1 70,635,737 47,723,638,410

Vanguard Global Aggregate Bond Index ETF (CAD-hedged)

As at June 30, 2021 Country of Fair Value Establishment and % of of Fund's % of Principal Place Ownership in Investment in Net Assets of Net Assets of Business Underlying Fund Underlying Fund Underlying Fund Vanguard Global ex-U.S. Aggregate Bond Index ETF (CAD-hedged) 52.5 Canada 4.4 25,559,222 579,440,952 Vanguard U.S. Aggregate Bond Index ETF (CAD-hedged) 47.5 Canada 3.2 23,124,052 729,413,865

As at December 31, 2020 Country of Fair Value Establishment and % of of Fund's % of Principal Place Ownership in Investment in Net Assets of Net Assets of Business Underlying Fund Underlying Fund Underlying Fund Vanguard Global ex-U.S. Aggregate Bond Index ETF (CAD-hedged) 54.4 Canada 4.8 22,819,895 473,256,908 Vanguard U.S. Aggregate Bond Index ETF (CAD-hedged) 46.9 Canada 3.0 19,657,425 664,191,849

Vanguard Global ex-U.S. Aggregate Bond Index ETF (CAD-hedged)

As at June 30, 2021 Country of Fair Value Establishment and % of of Fund's % of Principal Place Ownership in Investment in Net Assets of Net Assets of Business Underlying Fund Underlying Fund Underlying Fund Vanguard Total International Bond ETF 100.0 United States 1.1 579,500,575 53,022,814,377

As at December 31, 2020 Country of Fair Value Establishment and % of of Fund's % of Principal Place Ownership in Investment in Net Assets of Net Assets of Business Underlying Fund Underlying Fund Underlying Fund Vanguard Total International Bond ETF 99.8 United States 1.0 472,400,057 47,512,024,291

Vanguard S&P 500 Index ETF

As at June 30, 2021 Country of Fair Value Establishment and % of of Fund's % of Principal Place Ownership in Investment in Net Assets of Net Assets of Business Underlying Fund Underlying Fund Underlying Fund Vanguard S&P 500 ETF 100.0 United States 1.7 5,000,727,232 288,397,607,174

319 As at December 31, 2020 Country of Fair Value Establishment and % of of Fund's % of Principal Place Ownership in Investment in Net Assets of Net Assets of Business Underlying Fund Underlying Fund Underlying Fund Vanguard S&P 500 ETF 99.9 United States 1.6 3,687,743,705 226,564,203,900

Vanguard S&P 500 Index ETF (CAD-hedged)

As at June 30, 2021 Country of Fair Value Establishment and % of of Fund's % of Principal Place Ownership in Investment in Net Assets of Net Assets of Business Underlying Fund Underlying Fund Underlying Fund Vanguard S&P 500 ETF 99.9 United States 0.6 1,774,101,775 288,095,157,412

As at December 31, 2020 Country of Fair Value Establishment and % of of Fund's % of Principal Place Ownership in Investment in Net Assets of Net Assets of Business Underlying Fund Underlying Fund Underlying Fund Vanguard S&P 500 ETF 99.9 United States 0.6 1,436,083,569 226,759,993,772

Vanguard U.S. Aggregate Bond Index ETF (CAD-hedged)

As at June 30, 2021 Country of Fair Value Establishment and % of of Fund's % of Principal Place Ownership in Investment in Net Assets of Net Assets of Business Underlying Fund Underlying Fund Underlying Fund Vanguard Total Bond Market ETF 99.9 United States 0.7 728,575,957 97,722,009,647

As at December 31, 2020 Country of Fair Value Establishment and % of of Fund's % of Principal Place Ownership in Investment in Net Assets of Net Assets of Business Underlying Fund Underlying Fund Underlying Fund Vanguard Total Bond Market ETF 99.6 United States 0.8 661,329,075 86,868,864,845

Vanguard U.S. Dividend Appreciation Index ETF

As at June 30, 2021 Country of Fair Value Establishment and % of of Fund's % of Principal Place Ownership in Investment in Net Assets of Net Assets of Business Underlying Fund Underlying Fund Underlying Fund Vanguard Dividend Appreciation ETF 99.9 United States 1.1 845,217,744 74,016,890,973

As at December 31, 2020 Country of Fair Value Establishment and % of of Fund's % of Principal Place Ownership in Investment in Net Assets of Net Assets of Business Underlying Fund Underlying Fund Underlying Fund Vanguard Dividend Appreciation ETF 100.0 United States 1.1 757,351,868 68,134,373,707

Vanguard U.S. Dividend Appreciation Index ETF (CAD-hedged)

As at June 30, 2021 Country of Fair Value Establishment and % of of Fund's % of Principal Place Ownership in Investment in Net Assets of Net Assets of Business Underlying Fund Underlying Fund Underlying Fund Vanguard Dividend Appreciation ETF 99.9 United States 0.6 426,357,827 73,939,267,614

320 As at December 31, 2020 Country of Fair Value Establishment and % of of Fund's % of Principal Place Ownership in Investment in Net Assets of Net Assets of Business Underlying Fund Underlying Fund Underlying Fund Vanguard Dividend Appreciation ETF 100.0 United States 0.6 393,672,777 68,193,253,354

Vanguard U.S. Total Market Index ETF

As at June 30, 2021 Country of Fair Value Establishment and % of of Fund's % of Principal Place Ownership in Investment in Net Assets of Net Assets of Business Underlying Fund Underlying Fund Underlying Fund Vanguard Total Stock Market ETF 100.0 United States 1.4 4,275,501,691 313,407,579,512

As at December 31, 2020 Country of Fair Value Establishment and % of of Fund's % of Principal Place Ownership in Investment in Net Assets of Net Assets of Business Underlying Fund Underlying Fund Underlying Fund Vanguard Total Stock Market ETF 99.9 United States 1.2 3,042,437,547 257,220,249,857

Vanguard U.S. Total Market Index ETF (CAD-hedged)

As at June 30, 2021 Country of Fair Value Establishment and % of of Fund's % of Principal Place Ownership in Investment in Net Assets of Net Assets of Business Underlying Fund Underlying Fund Underlying Fund Vanguard Total Stock Market ETF 99.9 United States 0.3 1,045,225,692 313,078,901,167

As at December 31, 2020 Country of Fair Value Establishment and % of of Fund's % of Principal Place Ownership in Investment in Net Assets of Net Assets of Business Underlying Fund Underlying Fund Underlying Fund Vanguard Total Stock Market ETF 100.0 United States 0.3 820,832,812 257,442,531,749

8. Income tax

The Funds qualify as mutual fund trusts under the Income Tax Act (Canada) and for tax purposes have a December 15 year-end. In each taxation year, the Funds declare and credit as paid or payable sufficient net income and net realized capital gains to unitholders such that the Funds will not be subject to income taxes. As a result, each Fund does not record income taxes and accordingly does not recognize deferred taxes associated with tax loss carry-forwards or other taxable or deductible temporary differences. Capital losses may be carried forward indefinitely to reduce future realized capital gains. Non-capital losses may be carried forward for up to 20 years to reduce future taxable income.

As at December 15, 2020, tax year-end, the Funds had the following non-capital and capital losses, for which no deferred tax asset was recognized:

Fund Non-Capital Losses Capital Losses Vanguard Canadian Short-Term Bond Index ETF — 30,562,475 Vanguard Canadian Short-Term Corporate Bond Index ETF — 37,426,018 Vanguard FTSE Canada All Cap Index ETF — 5,864,921 Vanguard FTSE Canadian High Dividend Yield Index ETF — 903,487 Vanguard FTSE Developed All Cap ex North America Index ETF (CAD-hedged) — 5,209,340 Vanguard FTSE Developed All Cap ex U.S. Index ETF (CAD-hedged) — 10,368,437 Vanguard FTSE Developed Europe All Cap Index ETF — 7,824,662 Vanguard FTSE Developed ex North America High Dividend Yield Index ETF — 571,147

The Funds currently incur withholding taxes imposed by certain countries on investment income. Such income is recorded gross of the related withholding taxes, which are shown as a separate expense in the Statement of Comprehensive Income. In addition, certain countries apply withholding taxes on net realized capital gains.

321 For the purpose of the Statement of Cash Flows, cash inflows from investments, interest income and dividend income are presented net of withholding taxes, when applicable.

9. Redeemable units

The capital of the Funds is represented by the net assets attributable to holders of the redeemable units with no par value. Distributions to which unitholders are entitled may be paid in cash or units of the Funds in an amount equivalent to the distribution payable divided by the Funds' NAVPU. In certain circumstances, income and capital gain distributions are automatically reinvested in additional units of the Funds, which are immediately consolidated so that the number of units remains unchanged. The Funds have no restrictions or specific capital requirements on the subscriptions and redemptions of units.

The Funds are authorized to issue an unlimited number of transferable, redeemable trust units of one class, which represent an equal, undivided interest in the net assets of the Funds.

The number of units issued, redeemed and outstanding were as follows:

For the six months ended June 30, 2021

Units Units Outstanding Outstanding Fund Beginning of Period Issued* Redeemed End of Period Vanguard Canadian Aggregate Bond Index ETF 118,900,000 14,000,000 (3,900,000) 129,000,000 Vanguard Canadian Corporate Bond Index ETF 2,810,000 3,370,000 — 6,180,000 Vanguard Canadian Government Bond Index ETF 2,700,000 200,000 (1,000,000) 1,900,000 Vanguard Canadian Long-Term Bond Index ETF 1,700,000 300,000 (100,000) 1,900,000 Vanguard Canadian Short-Term Bond Index ETF 49,500,000 9,500,000 (6,200,000) 52,800,000 Vanguard Canadian Short-Term Corporate Bond Index ETF 48,800,000 5,900,000 (2,900,000) 51,800,000 Vanguard FTSE Canada All Cap Index ETF 82,650,000 18,225,000 (2,775,000) 98,100,000 Vanguard FTSE Canada Index ETF 20,300,000 5,100,000 (1,150,000) 24,250,000 Vanguard FTSE Canadian Capped REIT Index ETF 8,950,000 1,100,000 (950,000) 9,100,000 Vanguard FTSE Canadian High Dividend Yield Index ETF 21,650,000 7,650,000 (900,000) 28,400,000 Vanguard FTSE Developed All Cap ex North America Index ETF 59,080,000 17,550,000 — 76,630,000 Vanguard FTSE Developed All Cap ex North America Index ETF (CAD-hedged) 5,725,000 600,000 (100,000) 6,225,000 Vanguard FTSE Developed All Cap ex U.S. Index ETF 9,645,000 870,000 (350,000) 10,165,000 Vanguard FTSE Developed All Cap ex U.S. Index ETF (CAD-hedged) 10,100,000 1,100,000 (175,000) 11,025,000 Vanguard FTSE Developed Asia Pacific All Cap Index ETF 2,220,000 400,000 — 2,620,000 Vanguard FTSE Developed Europe All Cap Index ETF 5,080,000 350,000 (100,000) 5,330,000 Vanguard FTSE Developed ex North America High Dividend Yield Index ETF 700,000 500,000 — 1,200,000 Vanguard FTSE Emerging Markets All Cap Index ETF 33,160,000 8,600,000 (2,060,000) 39,700,000 Vanguard FTSE Global All Cap ex Canada Index ETF 22,930,000 2,230,000 (160,000) 25,000,000 Vanguard Global Aggregate Bond Index ETF (CAD-hedged) 1,620,000 800,000 (490,000) 1,930,000 Vanguard Global ex-U.S. Aggregate Bond Index ETF (CAD-hedged) 16,840,000 5,150,000 (840,000) 21,150,000 Vanguard S&P 500 Index ETF 43,550,000 10,660,000 (1,240,000) 52,970,000 Vanguard S&P 500 Index ETF (CAD-hedged) 22,860,000 3,650,000 (1,800,000) 24,710,000 Vanguard U.S. Aggregate Bond Index ETF (CAD-hedged) 24,890,000 8,550,000 (5,340,000) 28,100,000 Vanguard U.S. Dividend Appreciation Index ETF 12,370,000 1,100,000 (530,000) 12,940,000 Vanguard U.S. Dividend Appreciation Index ETF (CAD-hedged) 8,289,000 910,000 (990,000) 8,209,000 Vanguard U.S. Total Market Index ETF 45,192,000 12,470,000 (690,000) 56,972,000 Vanguard U.S. Total Market Index ETF (CAD-hedged) 11,488,000 1,590,000 (280,000) 12,798,000

* Includes units related to reinvestment of distributions as detailed in the Statements of Changes in Net Assets Attributable to Holders of Redeemable Units, if applicable.

For the six months ended June 30, 2020

Units Units Outstanding Outstanding Fund Beginning of Year Issued* Redeemed End of Year Vanguard Canadian Aggregate Bond Index ETF 103,500,000 12,500,000 (5,300,000) 110,700,000 Vanguard Canadian Corporate Bond Index ETF 1,450,000 600,000 (200,000) 1,850,000 Vanguard Canadian Government Bond Index ETF 1,600,000 1,500,000 (700,000) 2,400,000 Vanguard Canadian Long-Term Bond Index ETF 1,900,000 400,000 (700,000) 1,600,000

322 Units Units Outstanding Outstanding Fund Beginning of Year Issued* Redeemed End of Year Vanguard Canadian Short-Term Bond Index ETF 48,100,000 8,900,000 (9,300,000) 47,700,000 Vanguard Canadian Short-Term Corporate Bond Index ETF 49,800,000 3,800,000 (7,700,000) 45,900,000 Vanguard FTSE Canada All Cap Index ETF 65,025,000 13,350,000 (3,150,000) 75,225,000 Vanguard FTSE Canada Index ETF 18,600,000 3,100,000 (2,200,000) 19,500,000 Vanguard FTSE Canadian Capped REIT Index ETF 7,000,000 1,850,000 (600,000) 8,250,000 Vanguard FTSE Canadian High Dividend Yield Index ETF 15,850,000 3,850,000 (700,000) 19,000,000 Vanguard FTSE Developed All Cap ex North America Index ETF 46,480,000 7,400,000 (200,000) 53,680,000 Vanguard FTSE Developed All Cap ex North America Index ETF (CAD-hedged) 5,675,000 750,000 (575,000) 5,850,000 Vanguard FTSE Developed All Cap ex U.S. Index ETF 10,785,000 550,000 (1,640,000) 9,695,000 Vanguard FTSE Developed All Cap ex U.S. Index ETF (CAD-hedged) 10,825,000 425,000 (1,475,000) 9,775,000 Vanguard FTSE Developed Asia Pacific All Cap Index ETF 2,720,000 500,000 (200,000) 3,020,000 Vanguard FTSE Developed Europe All Cap Index ETF 7,430,000 300,000 (1,400,000) 6,330,000 Vanguard FTSE Developed ex North America High Dividend Yield Index ETF 700,000 100,000 (100,000) 700,000 Vanguard FTSE Emerging Markets All Cap Index ETF 30,730,000 3,020,000 (3,590,000) 30,160,000 Vanguard FTSE Global All Cap ex Canada Index ETF 22,230,000 1,610,000 (1,440,000) 22,400,000 Vanguard Global Aggregate Bond Index ETF (CAD-hedged) — 1,030,000 (40,000) 990,000 Vanguard Global ex-U.S. Aggregate Bond Index ETF (CAD-hedged) 11,970,000 2,940,000 (1,590,000) 13,320,000 Vanguard S&P 500 Index ETF 36,450,000 7,210,000 (5,560,000) 38,100,000 Vanguard S&P 500 Index ETF (CAD-hedged) 18,600,000 8,700,000 (1,970,000) 25,330,000 Vanguard U.S. Aggregate Bond Index ETF (CAD-hedged) 21,160,000 4,630,000 (3,400,000) 22,390,000 Vanguard U.S. Dividend Appreciation Index ETF 11,320,000 1,610,000 (1,110,000) 11,820,000 Vanguard U.S. Dividend Appreciation Index ETF (CAD-hedged) 6,369,000 2,560,000 (450,000) 8,479,000 Vanguard U.S. Total Market Index ETF 38,492,000 6,140,000 (2,680,000) 41,952,000 Vanguard U.S. Total Market Index ETF (CAD-hedged) 11,508,000 1,260,000 (990,000) 11,778,000

* Includes units related to reinvestment of distributions as detailed in the Statements of Changes in Net Assets Attributable to Holders of Redeemable Units, if applicable.

10. Related party transactions

(a) Management fees Each Fund pays a management fee, plus applicable taxes, to the Manager based on the annual rate set forth in the prospectus applied to the NAV. The management fee is calculated and accrued daily and is paid monthly. The Manager may, in its discretion, agree to charge the Fund and/or certain unitholders a reduced management fee as compared with the management fee that it otherwise would be entitled to receive, provided that the amount of the management fee reduction is distributed periodically by the Fund to the unitholder as a management fee distribution. Any reduction will depend on a number of factors, including the amount invested, the NAV of the Fund and the expected amount of account activity. Any tax consequences of a management fee distribution will generally be borne by the unitholder who receives the distribution.

2021 Annual 2020 Annual Fund Management Fee(%) Management Fee(%) Vanguard Canadian Aggregate Bond Index ETF 0.08 0.08 Vanguard Canadian Corporate Bond Index ETF 0.15 0.151 Vanguard Canadian Government Bond Index ETF 0.15 0.151 Vanguard Canadian Long-Term Bond Index ETF 0.15 0.151 Vanguard Canadian Short-Term Bond Index ETF 0.10 0.10 Vanguard Canadian Short-Term Corporate Bond Index ETF 0.10 0.10 Vanguard FTSE Canada All Cap Index ETF 0.05 0.05 Vanguard FTSE Canada Index ETF 0.05 0.05 Vanguard FTSE Canadian Capped REIT Index ETF 0.35 0.35 Vanguard FTSE Canadian High Dividend Yield Index ETF 0.20 0.20 Vanguard FTSE Developed All Cap ex North America Index ETF 0.20 0.20 Vanguard FTSE Developed All Cap ex North America Index ETF (CAD-hedged) 0.202 0.202 Vanguard FTSE Developed All Cap ex U.S. Index ETF 0.203 0.203 Vanguard FTSE Developed All Cap ex U.S. Index ETF (CAD-hedged) 0.203 0.203 Vanguard FTSE Developed Asia Pacific All Cap Index ETF 0.20 0.20 Vanguard FTSE Developed Europe All Cap Index ETF 0.20 0.20 Vanguard FTSE Developed ex North America High Dividend Yield Index ETF 0.28 0.28 Vanguard FTSE Emerging Markets All Cap Index ETF 0.233 0.233

323 2021 Annual 2020 Annual Fund Management Fee(%) Management Fee(%) Vanguard FTSE Global All Cap ex Canada Index ETF 0.202, 3 0.202, 3 Vanguard Global Aggregate Bond Index ETF (CAD-hedged) 0.302 0.302 Vanguard Global ex-U.S. Aggregate Bond Index ETF (CAD-hedged) 0.353 0.353 Vanguard S&P 500 Index ETF 0.083 0.083 Vanguard S&P 500 Index ETF (CAD-hedged) 0.083 0.083 Vanguard U.S. Aggregate Bond Index ETF (CAD-hedged) 0.203 0.203 Vanguard U.S. Dividend Appreciation Index ETF 0.283 0.283 Vanguard U.S. Dividend Appreciation Index ETF (CAD-hedged) 0.283 0.283 Vanguard U.S. Total Market Index ETF 0.153 0.153 Vanguard U.S. Total Market Index ETF (CAD-hedged) 0.153 0.153

1 Effective May 15, 2020, the ETF reduced its annual management fee to 0.15%. 2 This Fund invests primarily in a Canada-domiciled Vanguard fund. To ensure that there is no duplication of management fees chargeable in connection with the Fund and its investment in the Vanguard fund, the management fee payable by the Fund to the Manager set out above is reduced by the aggregate of the management fee payable by the Vanguard fund to the Manager and certain expenses of the Vanguard fund that are paid directly by the Vanguard fund. 3 This Fund invests primarily in a U.S.-domiciled Vanguard fund. To ensure that there is no duplication of management fees chargeable in connection with the Fund and its investment in the Vanguard fund, the management fee payable by the Fund to the Manager set out above is reduced by the aggregate of the management fee payable by the Vanguard fund to an affiliate of the Manager and certain expenses of the Vanguard fund that are paid directly by the Vanguard fund.

The expenses payable by each Fund include management fees, fees and expenses relating to the implementation and ongoing operation of the Independent Review Committee (“IRC”), brokerage expenses and commissions, overdraft expenses, the fees under any derivative instrument used by the Fund, the cost of complying with new governmental or regulatory requirements, extraordinary expenses, any sales taxes on those expenses and any income, withholding or other taxes, if applicable.

The Manager has discretion to absorb operating expenses otherwise payable by a Fund, rather than having the Fund incur such operating expenses. This absorption of operating expenses may be terminated at any time. The Manager has agreed to reimburse the Funds for the ongoing operating expenses of the IRC; however, the Manager may, in its discretion, discontinue this practice at any time.

(b) Other related party transactions Vanguard FTSE Developed All Cap ex North America Index ETF (CAD-hedged), Vanguard FTSE Global All Cap ex Canada Index ETF and Vanguard Global Aggregate Bond Index ETF (CAD-hedged) replicate the performance of the applicable Index by investing in funds managed by the Manager (Canada-domiciled Vanguard ETFs). Vanguard FTSE Developed All Cap ex U.S. Index ETF, Vanguard FTSE Developed All Cap ex U.S. Index ETF (CAD-hedged), Vanguard FTSE Emerging Markets All Cap Index ETF, Vanguard FTSE Global All Cap ex Canada Index ETF, Vanguard Global ex-U.S. Aggregate Bond Index ETF (CAD-hedged), Vanguard S&P 500 Index ETF, Vanguard S&P 500 Index ETF (CAD-hedged), Vanguard U.S. Aggregate Bond Index ETF (CAD-hedged), Vanguard U.S. Dividend Appreciation Index ETF, Vanguard U.S. Dividend Appreciation Index ETF (CAD-hedged), Vanguard U.S. Total Market Index ETF and Vanguard U.S. Total Market Index ETF (CAD-hedged) replicate the performance of the applicable Index by investing in funds managed by The Vanguard Group, Inc. (U.S.-domiciled Vanguard ETFs). These Funds track the applicable Index or an unhedged version of the applicable Index, and some Funds may economically hedge any resulting non-Canadian currency exposure. The Funds’ current holdings of the affiliated underlying funds are shown in the applicable Fund’s Schedule of Investment Portfolio.

(c) Inter-fund trades Subject to the condition that the IRC approve such transactions, the Manager has obtained exemptive relief from the Canadian securities regulatory authorities which permits the Funds to purchase securities from, or sell securities to, affiliates of the Manager.

The tables below indicate the Funds with inter-fund trades:

For the six months ended June 30, 2021

Selling Fund Purchasing Fund Transaction Amount Vanguard Canadian Short-Term Corporate Bond Index ETF Vanguard Canadian Short-Term Bond Index ETF 95,461 Vanguard Canadian Short-Term Bond Index ETF Vanguard Canadian Short-Term Corporate Bond Index ETF 118,991 Vanguard Canadian Corporate Bond Index ETF Vanguard Canadian Government Bond Index ETF 74,013

For the year ended December 31, 2020

Selling Fund Purchasing Fund Transaction amount Vanguard Canada Universe Bond Index Pooled Fund Vanguard Canadian Aggregate Bond Index ETF 1,951,462 Vanguard Canada Universe Bond Index Pooled Fund Vanguard Canadian Corporate Bond Index ETF 1,124,224 Vanguard Canada Universe Bond Index Pooled Fund Vanguard Canadian Government Bond Index ETF 679,308 Vanguard Canada Universe Bond Index Pooled Fund Vanguard Canadian Long-Term Bond Index ETF 806,484 Vanguard Canada Universe Bond Index Pooled Fund Vanguard Canadian Short-Term Bond Index ETF 1,352,355

324 Selling Fund Purchasing Fund Transaction amount Vanguard Canada Universe Bond Index Pooled Fund Vanguard Canadian Short-Term Corporate Bond Index ETF 563,831 Vanguard Canadian Aggregate Bond Index ETF Vanguard Canada Universe Bond Index Pooled Fund 111,954 Vanguard Canadian Aggregate Bond Index ETF Vanguard Canadian Corporate Bond Index ETF 1,028,219 Vanguard Canadian Aggregate Bond Index ETF Vanguard Canadian Government Bond Index ETF 843,850 Vanguard Canadian Aggregate Bond Index ETF Vanguard Canadian Long-Term Bond Index ETF 367,752 Vanguard Canadian Aggregate Bond Index ETF Vanguard Canadian Short-Term Bond Index ETF 846,525 Vanguard Canadian Aggregate Bond Index ETF Vanguard Canadian Short-Term Corporate Bond Index ETF 4,210,747 Vanguard Canadian Aggregate Bond Index ETF Vanguard Canadian Short-Term Government Bond Index ETF 109,077 Vanguard Canadian Corporate Bond Index ETF Vanguard Canada Universe Bond Index Pooled Fund 236,397 Vanguard Canadian Corporate Bond Index ETF Vanguard Canadian Aggregate Bond Index ETF 1,945,765 Vanguard Canadian Corporate Bond Index ETF Vanguard Canadian Long-Term Bond Index ETF 119,939 Vanguard Canadian Corporate Bond Index ETF Vanguard Canadian Short-Term Bond Index ETF 951,227 Vanguard Canadian Corporate Bond Index ETF Vanguard Canadian Short-Term Corporate Bond Index ETF 544,098 Vanguard Canadian Government Bond Index ETF Vanguard Canada Universe Bond Index Pooled Fund 892,434 Vanguard Canadian Government Bond Index ETF Vanguard Canadian Aggregate Bond Index ETF 235,087 Vanguard Canadian Government Bond Index ETF Vanguard Canadian Long-Term Bond Index ETF 124,827 Vanguard Canadian Government Bond Index ETF Vanguard Canadian Short-Term Bond Index ETF 343,821 Vanguard Canadian Government Bond Index ETF Vanguard Canadian Short-Term Government Bond Index ETF 25,706 Vanguard Canadian Long-Term Bond Index ETF Vanguard Canada Universe Bond Index Pooled Fund 221,755 Vanguard Canadian Long-Term Bond Index ETF Vanguard Canadian Aggregate Bond Index ETF 1,033,070 Vanguard Canadian Long-Term Bond Index ETF Vanguard Canadian Corporate Bond Index ETF 152,885 Vanguard Canadian Long-Term Bond Index ETF Vanguard Canadian Government Bond Index ETF 18,980 Vanguard Canadian Short-Term Bond Index ETF Vanguard Canadian Aggregate Bond Index ETF 3,140,839 Vanguard Canadian Short-Term Bond Index ETF Vanguard Canadian Corporate Bond Index ETF 424,603 Vanguard Canadian Short-Term Bond Index ETF Vanguard Canadian Government Bond Index ETF 68,612 Vanguard Canadian Short-Term Bond Index ETF Vanguard Canadian Short-Term Corporate Bond Index ETF 3,988,758 Vanguard Canadian Short-Term Bond Index ETF Vanguard Canadian Short-Term Government Bond Index ETF 142,938 Vanguard Canadian Short-Term Corporate Bond Index ETF Vanguard Canadian Aggregate Bond Index ETF 4,466,802 Vanguard Canadian Short-Term Corporate Bond Index ETF Vanguard Canadian Corporate Bond Index ETF 598,882 Vanguard Canadian Short-Term Corporate Bond Index ETF Vanguard Canadian Short-Term Bond Index ETF 3,635,145 Vanguard Canadian Short-Term Government Bond Index ETF Vanguard Canadian Aggregate Bond Index ETF 116,927 Vanguard Canadian Short-Term Government Bond Index ETF Vanguard Canadian Government Bond Index ETF 66,865 Vanguard Canadian Short-Term Government Bond Index ETF Vanguard Canadian Short-Term Bond Index ETF 62,958

(d) Sub-Advisor The Sub-Advisor manages the investment portfolios of the Funds, provides analysis and makes investment decisions. A portion of the management fee paid by the Funds is remitted to the Sub-Advisor as compensation for these services.

11. Subsequent events

There are no events or transactions subsequent to June 30, 2021, that would require recognition or disclosure in these financial statements.

325 This page intentionally left blank. This page intentionally left blank. BLOOMBERG is a trademark and service mark of Bloomberg Finance L.P. BARCLAYS is a trademark and service mark of Barclays Bank Plc, used under license. Bloomberg Finance L.P. and its affiliates, including Bloomberg indices Services Limited ("BISL") (collectively, "Bloomberg"), or Bloomberg's licensors, own all proprietary rights in the Bloomberg Barclays Indices ("Indices").

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Source: Bloomberg indices Services Limited. Copyright 2021, Bloomberg. All rights reserved.

The "CRSP US Total Market Index" and the "CRSP US Total Market Index (CAD-hedged)" (the "Indices") are products of the Center for Research in Security Prices, LLC ("CRSP"), an affiliate of the University of Chicago ("University"), and have been licensed for use by Vanguard. CRSP® is a trademark of CRSP; and has been licensed by CRSP for use for certain purposes by Vanguard. The Vanguard ETFs are not sponsored, endorsed, sold or promoted by CRSP or University. Neither CRSP nor University makes any representation or warranty, express or implied, to the owners of The Vanguard ETFs or any member of the public regarding the advisability of investing in securities generally, in The Vanguard ETFs particularly or the ability of the Indices to track general market performance. The Indices are determined, composed and calculated without regard to The Vanguard ETFs. Neither CRSP nor the University has any obligation to take the needs of Vanguard or the owners of The Vanguard ETFs into consideration in determining, composing or calculating the Indices. Neither CRSP nor The Vanguard ETFs or the timing of the issuance or sale of The Vanguard ETFs or in the determination or calculation of the equation by which The Vanguard ETFs are to be converted into cash, surrendered or redeemed, as the case may be. Neither CRSP nor the University has any obligation or liability in connection with the administration, marketing or trading of The Vanguard ETFs. There is no assurance that investment products based on the Index will accurately track index performance or provide positive investment returns. Neither CRSP nor the University is an investment advisor. Inclusion of a security within an index is not a recommendation by CRSP or the University to buy, sell, or hold such security, nor is it considered to be investment advice.

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This report may contain forward-looking statements relating to anticipated future events, results, circumstances, performance or expectations that are not historical facts but instead represent certain beliefs regarding future events. By their nature, forward-looking statements involve assumptions and are subject to inherent risks and uncertainties. There is significant risk that predictions and other forward-looking statements will not prove to be accurate. Readers of this document are cautioned not to place undue reliance on any forward-looking statements contained in this report as a number of factors could cause actual future results, conditions, actions or events to differ materially from the targets, expectations, estimates or intentions expressed or implied in the forward-looking statements. Actual results may differ materially from management expectations as projected in such forward-looking statements for a variety of reasons, including but not limited to market and general economic conditions, interest rates, regulatory and statutory developments, the effects of competition in the geographic and business areas in which the ETF may invest and the risks detailed from time to time in the ETF’s prospectus. We caution that the foregoing list of factors is not exhaustive and that when relying on forward-looking statements to make decisions with respect to investing in the ETF, investors and others should carefully consider these factors, as well as other uncertainties and potential events, and the inherent uncertainty of forward-looking statements. Because of the potential impact of these factors, Vanguard Investments Canada Inc. does not undertake, and specifically disclaims, any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless required by applicable law.

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