06/15/2026 | Press release | Distributed by Public on 06/15/2026 08:00
Vanguard Funds
Supplement to the Prospectuses, Summary Prospectuses, and Statements of Additional Information
Vanguard is deeply saddened to announce the passing of Gerard O'Reilly, Principal of Vanguard and co-portfolio manager of 15 Vanguard funds.
In light of this sad news, all references to Gerard O'Reilly are hereby deleted from the Prospectus, Summary Prospectus, and Statement of Additional Information for each Vanguard fund listed in the table below (each, an "Impacted Fund" and collectively, the "Impacted Funds"). Aaron Choi, Kenny Narzikul, Chris Nieves, and Jena Stenger remain portfolio managers of each Vanguard fund listed in the table below. Aaron, Kenny, Chris, Jena, and the entirety of the Vanguard Portfolio Management team have benefitted from Gerry's strong leadership and expertise over the years, and will help carry his commitment to serving Vanguard investors forward.
The Impacted Funds' investment objectives, strategies, and policies remain unchanged.
|
Impacted Fund |
Co-Portfolio Managers |
|
Vanguard Dividend Appreciation Index Fund |
Kenny Narzikul and Jena Stenger |
|
Vanguard ESG U.S. Stock ETF |
Aaron Choi and Chris Nieves |
|
Vanguard FTSE Social Index Fund |
Aaron Choi and Chris Nieves |
|
Vanguard Growth Index Fund |
Aaron Choi and Jena Stenger |
|
Vanguard High Dividend Yield Index Fund |
Chris Nieves and Jena Stenger |
|
Vanguard Mega Cap Growth Index Fund |
Chris Nieves and Jena Stenger |
|
Vanguard Mega Cap Index Fund |
Chris Nieves and Jena Stenger |
|
Vanguard Mega Cap Value Index Fund |
Chris Nieves and Jena Stenger |
|
Vanguard Real Estate Index Fund |
Chris Nieves and Jena Stenger |
|
Vanguard Real Estate II Index Fund |
Chris Nieves and Jena Stenger |
|
Vanguard Small-Cap Growth Index Fund |
Aaron Choi and Kenny Narzikul |
|
Vanguard Small-Cap Index Fund |
Aaron Choi and Kenny Narzikul |
|
Vanguard Small-Cap Value Index Fund |
Aaron Choi and Kenny Narzikul |
|
Vanguard Value Index Fund |
Aaron Choi and Jena Stenger |
|
Impacted Fund |
Co-Portfolio Managers |
|
Vanguard Variable Insurance |
Chris Nieves and Jena Stenger |
|
Fund-Real Estate Index Portfolio |
|
© 2026 The Vanguard Group, Inc. All rights reserved. |
PS PMH 062026 |
|
Vanguard Marketing Corporation, Distributor. |
Vanguard Funds
Supplement to the Prospectuses, Summary Prospectuses, and Statements of Additional Information
Vanguard is deeply saddened to announce the passing of Gerard O'Reilly, Principal of Vanguard and co-portfolio manager of 15 Vanguard funds.
In light of this sad news, all references to Gerard O'Reilly are hereby deleted from the Prospectus, Summary Prospectus, and Statement of Additional Information for each Vanguard fund listed in the table below (each, an "Impacted Fund" and collectively, the "Impacted Funds"). Aaron Choi, Kenny Narzikul, Chris Nieves, and Jena Stenger remain portfolio managers of each Vanguard fund listed in the table below. Aaron, Kenny, Chris, Jena, and the entirety of the Vanguard Portfolio Management team have benefitted from Gerry's strong leadership and expertise over the years, and will help carry his commitment to serving Vanguard investors forward.
The Impacted Funds' investment objectives, strategies, and policies remain unchanged.
|
Impacted Fund |
Co-Portfolio Managers |
|
Vanguard Dividend Appreciation Index Fund |
Kenny Narzikul and Jena Stenger |
|
Vanguard ESG U.S. Stock ETF |
Aaron Choi and Chris Nieves |
|
Vanguard FTSE Social Index Fund |
Aaron Choi and Chris Nieves |
|
Vanguard Growth Index Fund |
Aaron Choi and Jena Stenger |
|
Vanguard High Dividend Yield Index Fund |
Chris Nieves and Jena Stenger |
|
Vanguard Mega Cap Growth Index Fund |
Chris Nieves and Jena Stenger |
|
Vanguard Mega Cap Index Fund |
Chris Nieves and Jena Stenger |
|
Vanguard Mega Cap Value Index Fund |
Chris Nieves and Jena Stenger |
|
Vanguard Real Estate Index Fund |
Chris Nieves and Jena Stenger |
|
Vanguard Real Estate II Index Fund |
Chris Nieves and Jena Stenger |
|
Vanguard Small-Cap Growth Index Fund |
Aaron Choi and Kenny Narzikul |
|
Vanguard Small-Cap Index Fund |
Aaron Choi and Kenny Narzikul |
|
Vanguard Small-Cap Value Index Fund |
Aaron Choi and Kenny Narzikul |
|
Vanguard Value Index Fund |
Aaron Choi and Jena Stenger |
|
Impacted Fund |
Co-Portfolio Managers |
|
Vanguard Variable Insurance |
Chris Nieves and Jena Stenger |
|
Fund-Real Estate Index Portfolio |
|
© 2026 The Vanguard Group, Inc. All rights reserved. |
SAI PMH 062026 |
|
Vanguard Marketing Corporation, Distributor. |