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The","page_number":4,"box":{"x":756,"y":476,"width":175,"height":8}},{"id":"1401be9d-ecc9-4755-bc82-02e5f6f1f4fa","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":"c08f3583-f935-4694-bbcc-8d8f4ee8b960","block_type":"box","text":"terest rates are likely to","page_number":4,"box":{"x":792,"y":150,"width":118,"height":8}},{"id":"d277ab27-4912-4095-8b0a-092ccf6eef74","block_type":"box","text":"affect the capital value of bonds.","page_number":4,"box":{"x":39,"y":160,"width":164,"height":7}},{"id":"22908078-1691-4d7e-8f11-81313b008790","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":"1981e24f-05eb-43d5-a111-8b7da11305ef","block_type":"box","text":"dered fully before","page_number":4,"box":{"x":792,"y":173,"width":87,"height":8}},{"id":"c2b36c6a-1d62-4731-a399-90b140acdd02","block_type":"box","text":"investing.","page_number":4,"box":{"x":39,"y":183,"width":46,"height":7}},{"id":"67ef7a2b-7d43-457d-a596-4b5af498243f","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":"bc5cbccc-d90a-4a24-9afd-7015381b5725","block_type":"box","text":"exposure to underlying","page_number":4,"box":{"x":785,"y":196,"width":112,"height":8}},{"id":"3e38edee-f4e9-4fa1-94b3-35c2ad32eb76","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":"956ed783-b891-4f37-ab47-4bb07043e5a3","block_type":"box","text":"a financial asset (such as a share,","page_number":4,"box":{"x":748,"y":206,"width":167,"height":7}},{"id":"899c4230-83ae-42b2-9b9a-1fb6b37a5b9c","block_type":"box","text":"bond, or currency) or a market index.","page_number":4,"box":{"x":39,"y":215,"width":182,"height":8}},{"id":"9db9a120-7ebe-48c1-89fd-060545abb1b6","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":"2c4f74db-9a96-48f0-8013-eeab3bc2c855","block_type":"box","text":"ts.","page_number":4,"box":{"x":802,"y":230,"width":11,"height":5}},{"id":"fcee4905-ee35-4342-ba28-4fd3ebf52f6e","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":"e6b128c3-7bab-4640-b840-dca9655983fb"},"user_id":1000002,"date_created":"2026-10-15T22:27:17.699000Z","date_modified":"2026-10-15T22:27:17.699000Z","private":false}