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The use of derivatives could increase or reduce","page_number":4,"box":{"x":38,"y":207,"width":744,"height":8}},{"id":"c93520ad-479a-4580-ab27-7fd0bd77ee68","block_type":"box","text":"exposure to underlying","page_number":4,"box":{"x":785,"y":208,"width":112,"height":7}},{"id":"27a33145-64fe-4264-8f31-c4db9f6e3280","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":217,"width":706,"height":8}},{"id":"0f24e16b-f642-4bff-976f-af154f145076","block_type":"box","text":"a financial asset (such as a share,","page_number":4,"box":{"x":748,"y":217,"width":167,"height":7}},{"id":"0c446e58-e1ac-42c9-8bf3-4e48cf565de8","block_type":"box","text":"bond, or currency) or a market index.","page_number":4,"box":{"x":39,"y":227,"width":182,"height":7}},{"id":"9e216140-e453-49ff-b9b4-4d9aa181e9fe","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":240,"width":761,"height":8}},{"id":"bd038cd3-490b-4ef1-83e7-05c525d20cb0","block_type":"box","text":"ts.","page_number":4,"box":{"x":802,"y":241,"width":11,"height":5}},{"id":"8a84a9e9-5ce2-4fe0-a0b6-e89633223022","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":254,"width":673,"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":"535bf223-bd98-4e05-a271-022da218495d"},"user_id":1000002,"date_created":"2026-10-15T22:29:29.702000Z","date_modified":"2026-10-15T22:29:29.702000Z","private":false}