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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":"b78c755a-b11d-4ce2-b781-7cad03e92431","block_type":"box","text":"exposure to underlying","page_number":4,"box":{"x":785,"y":208,"width":112,"height":7}},{"id":"4adab5c4-c11e-4d2d-8db9-fa87335709a9","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":"d84dad6e-014b-4c30-afae-56794ef62e6b","block_type":"box","text":"a financial asset (such as a share,","page_number":4,"box":{"x":748,"y":217,"width":167,"height":7}},{"id":"6bc08d68-68eb-4128-9583-fa80a0276de6","block_type":"box","text":"bond, or currency) or a market index.","page_number":4,"box":{"x":39,"y":227,"width":182,"height":7}},{"id":"79917c34-a602-4613-9355-e84ff1fd40b4","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":"4d962ef7-890d-42d6-8250-b5be6a3d359c","block_type":"box","text":"ts.","page_number":4,"box":{"x":802,"y":241,"width":11,"height":5}},{"id":"7d57c1d4-4ec4-4b9c-93c8-acc40272f1ed","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":"ddab10ef-37e0-4d92-af45-5398736e8043"},"user_id":1000002,"date_created":"2026-10-15T22:28:27.812000Z","date_modified":"2026-10-15T22:28:27.812000Z","private":false}