VANGUARD 500 INDEX FUND ADMIRAL SHARES

As the industry’s first index fund for individual investors, the 500 Index Fund is a low-cost way to gain diversified exposure to the U. S. equity market. The fund offers exposure to 500 of the largest U. S. companies, which span many different industries and account for about three-fourths of the U. S. stock market’s value. The key risk for the fund is the volatility that comes with its full exposure to the stock market.

Because the 500 Index Fund is broadly diversified within the large-capitalization market, it may be considered a core equity holding in a portfolio. .