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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":"59951232-22a4-44a6-8e60-6a99264cf61b","block_type":"box","text":"exposure to underlying","page_number":4,"box":{"x":785,"y":208,"width":112,"height":7}},{"id":"c6c60579-6819-405f-975e-5caeb05418d4","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":"4a72a3d2-fee6-4483-a308-b9b13081a6d7","block_type":"box","text":"a financial asset (such as a share,","page_number":4,"box":{"x":748,"y":217,"width":167,"height":7}},{"id":"f527e7c8-d64f-44d1-8dff-74031064814e","block_type":"box","text":"bond, or currency) or a market index.","page_number":4,"box":{"x":39,"y":227,"width":182,"height":7}},{"id":"3f196ac2-b490-4e80-9e7a-25366d339634","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":"97ef0112-efb3-40cb-9d48-345db349719a","block_type":"box","text":"ts.","page_number":4,"box":{"x":802,"y":241,"width":11,"height":5}},{"id":"08c47f0b-dcbe-4a23-8d95-cd56a8b0a24a","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":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":"9f74725c-ac35-4aa8-9e63-874b8c61dd70"},"user_id":1000002,"date_created":"2026-10-15T22:28:31.738000Z","date_modified":"2026-10-15T22:28:31.738000Z","private":false}