Vanguard Launched New Mega ETFs

On December 17th, Vanguard launched three new Mega ETFs:

• Vanguard Mega Cap 300 ETF (MGC): Track MSCI Large-Cap US 300 Index
• Vanguard Mega Cap 300 Growth ETF (MGK): Track MSCI US Large-Cap Growth Index
• Vanguard Mid-Cap Value ETF (VOE): Track MSCI US Large-Cap Value Index

All three funds have an expense ratio (ER) of 0.17%. According to MSCI, the Large-Cap 300 Index

represents the universe of large capitalization companies in the US equity market. This index targets for inclusion 300 companies and represents, as of October 29, 2004, approximately 71% of the capitalization of the US equity market.

And both the Growth and Value Indices are subsets of the 300 Index.