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The","page_number":4,"box":{"x":756,"y":476,"width":175,"height":8}},{"id":"c169a347-609a-47b0-8884-fbe5cffa6f66","block_type":"box","text":"information in this document is general in nature and does not constitute legal, tax, or investment advice. 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The level of income may fluctuate and movements in in","page_number":4,"box":{"x":39,"y":150,"width":751,"height":8}},{"id":"00d889fa-2336-4833-b518-191e0ecf194a","block_type":"box","text":"terest rates are likely to","page_number":4,"box":{"x":792,"y":150,"width":118,"height":8}},{"id":"01e5008c-2315-413e-85ee-ae52a9633ea4","block_type":"box","text":"affect the capital value of bonds.","page_number":4,"box":{"x":39,"y":160,"width":164,"height":7}},{"id":"96894374-3807-40d7-a4ac-6556730ad8c5","block_type":"box","text":"ETF shares can be bought or sold only through a broker. Investing in ETFs entails stockbroker commission and a bid- offer spread which should be consi","page_number":4,"box":{"x":39,"y":173,"width":751,"height":8}},{"id":"461d6206-3b21-48dd-8c2a-5af72d2fbf44","block_type":"box","text":"dered fully before","page_number":4,"box":{"x":792,"y":173,"width":87,"height":8}},{"id":"25cf27e3-a8f7-41a7-af24-3d3db5122eaa","block_type":"box","text":"investing.","page_number":4,"box":{"x":39,"y":183,"width":46,"height":7}},{"id":"5091e6f9-aaa3-4867-a514-57ff3b158fd8","block_type":"box","text":"The Funds may use derivatives in order to reduce risk or cost and/or generate extra income or growth. The use of derivatives could increase or reduce","page_number":4,"box":{"x":38,"y":196,"width":744,"height":8}},{"id":"f0911625-85c3-4b39-b95f-20eba95fc5e2","block_type":"box","text":"exposure to underlying","page_number":4,"box":{"x":785,"y":196,"width":112,"height":8}},{"id":"ba2bfdd3-faee-4e18-b59a-9372370ab94b","block_type":"box","text":"assets and result in greater fluctuations of the Fund’s net asset value. A derivative is a financial contract whose value is based on the value of","page_number":4,"box":{"x":39,"y":206,"width":706,"height":7}},{"id":"375abf59-bb42-4376-9de6-b849844cd518","block_type":"box","text":"a financial asset (such as a share,","page_number":4,"box":{"x":748,"y":206,"width":167,"height":7}},{"id":"adb70c1d-1806-4b5f-b0cb-8f654c6835d2","block_type":"box","text":"bond, or currency) or a market index.","page_number":4,"box":{"x":39,"y":215,"width":182,"height":8}},{"id":"dcbbb3b2-e6b1-4370-b85d-bc6654bff151","block_type":"box","text":"Some funds invest in securities which are denominated in different currencies. Movements in currency exchange rates can affect the return of investmen","page_number":4,"box":{"x":39,"y":229,"width":761,"height":8}},{"id":"be255a15-1110-47ef-8865-d7035accb527","block_type":"box","text":"ts.","page_number":4,"box":{"x":802,"y":230,"width":11,"height":5}},{"id":"ea5cff82-fe52-4c35-a056-1b0daddb22fa","block_type":"box","text":"For further information on risks please see the “Risk Factors” section of the prospectus on our website at https://global.vanguard.com.","page_number":4,"box":{"x":39,"y":242,"width":674,"height":8}}],"unit":"per_mille","page_width":595,"page_height":842,"attributes":{"chunk_type":"page_range","start_page":1,"end_page":4}},"source":{"type":"Model","id":"github:dorsalhub/pdf-extractor","version":"0.5.0","execution_id":"f4cb4f8f-c155-4f88-aba0-70c5d970de65"},"user_id":1000002,"date_created":"2026-10-15T22:16:28.644000Z","date_modified":"2026-10-15T22:16:28.644000Z","private":false}