Your s at a Glance JOHNS HOPKINS UNIVERSITY 403(B)(7) PLAN (090078) The plan offers the following diversified lineup of investment options. For more information about each fund, including investment strategy, visit Vanguard.com or call Vanguard Participant Services at 800-23-88. The performance data shown represent past performance, which is not a guarantee of future results. Investment returns and principal value will fluctuate, so investors' shares, when sold, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data cited. For performance data current to the most recent month-end, visit our website at vanguard.com/performance. Figures for periods of less than one year are cumulative returns. All other figures represent average annual returns. Performance data for periods of less than one year do not reflect the deduction of redemption fees that may apply. All other performance data are adjusted for redemption fees, where applicable. s: All-in-one investments Consider choosing the date-specific fund nearest your expected year of retirement that becomes more conservative as your year of retirement approaches. Income Number Type Objective Risk Level 0/27/2003 0308 Balanced Seeks to provide current income and some capital appreciation. Average Annual Total s 0 s 0.7% 3.99%.2%.2% 4.86%.30% Page > of 4
s: All-in-one investments Consider choosing the date-specific fund nearest your expected year of retirement that becomes more conservative as your year of retirement approaches. 200 Number Type Objective Risk Level 06/07/2006 068 Balanced Average Annual Total s 0 s Moderate 0.7%.26% 3.37% 3.37% 3.26% 4.72% 20 0/27/2003 0303 Balanced Moderate 0.6% 6.07%.7%.7% 2.4%.22% 2020 06/07/2006 0682 Balanced Moderate 0.7% 6.74% 0.60% 0.60%.9% 3.80% 202 0/27/2003 0304 Balanced Moderate 0.8% 7.38% -0.37% -0.37%.27% 4.92% 2030 06/07/2006 069 Balanced 0.8% 8.0% -.27% -.27% 0.64% 2.92% 203 0/27/2003 030 Balanced 0.9% 8.72% -2.24% -2.24% 0.27% 4.97% 2040 06/07/2006 0696 Balanced 0.9% 8.79% -2.% -2.% 0.27% 2.0% 204 0/27/2003 0306 Balanced 0.9% 8.76% -2.% -2.% 0.24%.32% Page > 2 of 4
s: All-in-one investments Consider choosing the date-specific fund nearest your expected year of retirement that becomes more conservative as your year of retirement approaches. 200 Number Type Objective Risk Level 06/07/2006 0699 Balanced Average Annual Total s 0 s 0.9% 8.80% -2.4% -2.4% 0.2% 2.8% 20 08/8/200 487 Balanced 0.9% 8.87% -2.27% -2.27% 8.9% 2060 0/9/202 69 Balanced Core s: Do-it-yourself investments Admiral Treasury Money Market Number Type Objective Risk Level 2/4/992 00 Money market fund Seeks to provide current income while maintaining liquidity and a stable share price of $. The current 7-day yield for this fund is 0.0%. This fund is closed to new investments. Average Annual Total s 0 s 0.% 0.00% 0.02% 0.02%.4%.8% 3.24% Federal Money Market 07/3/98 0033 Money market fund Seeks to provide current income while maintaining liquidity and a stable share price of $. The current 7-day yield for this fund is 0.0%. This fund is closed to new investments. 0.9% 0.00% 0.0% 0.0%.9%.93%.07% Prime Money Market Investor 06/04/97 0030 Money market fund Seeks to provide current income while maintaining liquidity and a stable share price of $. The current 7-day yield for this fund is 0.02%. 0.20% 0.0% 0.0% 0.0%.69%.99%.83% Page > 3 of 4
Core s: Do-it-yourself investments Short-Term Bond Index Number Type Objective Risk Level 03/0/994 032 Bond fund Seeks to track the performance of a market-weighted bond index with a short-term dollar-weighted average maturity. Average Annual Total s 0 s 0.22% 0.4% 2.96% 2.96% 4.7% 4.02%.% Short-Term Federal Short-Term Investment-Grade Investor Short-Term Treasury 2/3/987 0049 Bond fund Seeks to provide current income with limited price volatility. 0/29/982 0039 Bond fund Seeks to provide current income while maintaining limited price volatility. 0/28/99 0032 Bond fund Seeks to provide current income with limited price volatility. 0.22% 0.36% 2.76% 2.76% 4.63% 4.0%.8% 0.22% 0.47%.93%.93% 4.28% 4.0% 6.8% 0.22% 0.33% 2.26% 2.26% 4.% 3.76%.02% GNMA 06/27/980 0036 Bond fund Seeks to provide a moderate level of current income. 0.23%.% 7.69% 7.69% 6.83%.79% 8.28% Inflation-Protected Securities 06/29/2000 09 Bond fund Seeks to provide investors inflation protection and income consistent with investment in inflation-indexed securities. 0.22% 2.6% 3.24% 3.24% 7.63% 7.33% 7.7% Intermediate-Term Bond Index 03/0/994 034 Bond fund Seeks to track the performance of a market-weighted bond index with an intermediate-term dollar-weighted average maturity. 0.22%.% 0.62% 0.62% 7.84% 6.63% 6.92% Intermediate-Term Investment-Grade Investor /0/993 007 Bond fund Seeks to provide a moderate and sustainable level of current income. 0.22%.8% 7.2% 7.2% 6.8% 6.8% 6.37% Page > 4 of 4
Core s: Do-it-yourself investments Intermediate-Term Treasury Number Type Objective Risk Level 0/28/99 003 Bond fund Seeks to provide a moderate and sustainable level of current income. Average Annual Total s 0 s 0.22% 0.88% 9.80% 9.80% 7.63% 6.30% 7.0% Total Bond Market Index 2//986 0084 Bond fund Seeks to track the performance of a broad, market-weighted bond index. This fund is closed to new investments. 0.22% 0.93% 7.6% 7.6% 6.37%.49% 6.84% LifeStrategy Income 09/30/994 0723 Balanced Seeks to provide current income and some capital appreciation. 0.3% 2.9% 3.77% 3.77% 3.93% 4.74% 6.88% High-Yield Corporate Long-Term Bond Index Long-Term Investment-Grade Investor Long-Term Treasury 2/27/978 0029 Bond fund Seeks to provide a high level of current income. This fund charges a redemption fee of % on shares held less than year. 03/0/994 022 Bond fund Seeks to track the performance of a market-weighted bond index with a long-term dollar-weighted average maturity. 07/09/973 0028 Bond fund Seeks to provide a high and sustainable level of current income. 0/9/986 0083 Bond fund Seeks to provide a high and sustainable level of current income. Moderate 0.2% 6.06% 7.3% 7.3% 6.% 6.83% 8.78% Moderate 0.22% 2.8% 22.06% 22.06% 9.66% 8.4% 8.27% Moderate 0.24% 2.9% 7.8% 7.8% 8.4% 7.82% 8.78% Moderate 0.22%.0% 29.28% 29.28% 0.64% 8.72% 8.69% Page > of 4
Core s: Do-it-yourself investments Balanced Index Investor Number Type Objective Risk Level /09/992 0002 Balanced Seeks with 60% of its assets to track the investment performance of a benchmark index that measures the investment return of the overall U.S. stock market. With 40% of its assets, the fund seeks to track the investment performance of a broad, market-weighted bond index. Average Annual Total s 0 s Moderate 0.26% 7.66% 4.4% 4.4% 3.% 4.87% 7.68% LifeStrategy Growth 09/30/994 0724 Balanced Seeks to provide current income and low to moderate capital appreciation. Moderate 0.% 4.7%.76%.76% 2.6% 4.6% 7.06% LifeStrategy Moderate Growth Investor 09/30/994 094 Balanced Seeks to provide capital appreciation and a low to moderate level of current income. Moderate 0.6% 6.23% 0.26% 0.26%.3% 4.60% 7.34% STAR 03/29/98 006 Balanced Seeks to provide long-term capital appreciation and income. Moderate 0.34% 6.68% 0.77% 0.77% 2.33%.20% 9.42% Wellesley Income 07/0/970 0027 Balanced Seeks to provide long-term growth of income and a high and sustainable level of current income, along with moderate long-term capital appreciation. Moderate 0.28% 6.% 9.63% 9.63% 6.03% 6.66% 0.6% Wellington 07/0/929 002 Balanced Seeks to provide long-term capital appreciation and reasonable current income. Moderate 0.30% 8.22% 3.8% 3.8% 3.46% 6.7% 8.2% Convertible Securities 06/7/986 0082 Balanced Seeks to provide current income and long-term capital appreciation. This fund charges a redemption fee of % on shares held less than year. 0.68%.4% -6.7% -6.7% 3.99% 6.47% 8.08% LifeStrategy Growth 09/30/994 022 Balanced Seeks to provide capital appreciation and some current income. 0.7% 7.9% -2.28% -2.28% -0.9% 4.2% 7.26% Page > 6 of 4
Core s: Do-it-yourself investments 00 Index Signal Number Type Objective Risk Level 09/29/2006 340 Domestic measures the investment return of large-capitalization stocks. Average Annual Total s 0 s 0.06%.8% 2.08% 2.08% -0.23%.02% Capital Value Investor 2/7/200 0328 Domestic Seeks to provide long-term capital appreciation. 0.44% 0.36% -3.98% -3.98% -2.38% 2.60% 2.8% Diversified Equity Investor 06/0/200 0608 Domestic Seeks to provide long-term capital appreciation and dividend income. 0.40%.40% -.0% -.0% -0.7% 2.% Dividend Growth Investor 0//992 007 Domestic Seeks to provide, primarily, a growing stream of income over time and, secondarily, long-term capital appreciation and current income. 0.34%.9% 9.43% 9.43% 3.40% 4.97% 7.07% Equity Income 03/2/988 006 Domestic Seeks to provide an above-average level of current income and reasonable long-term capital appreciation. 0.3% 3.76% 0.60% 0.60%.0% 4.98% 9.44% FTSE Social Index 0/3/2000 023 Domestic measures the investment return of large- and mid-capitalization stocks. 0.29% 9.% -0.78% -0.78% -2.90% 0.84% -.39% Growth Index Investor /02/992 0009 Domestic measures the investment return of large-capitalization growth stocks. 0.26% 0.90%.7%.7% 2.40% 2.88% 7.69% Growth and Income 2/0/986 0093 Domestic Seeks to provide a total return (capital appreciation plus dividend income) greater than the return of the Standard & Poor s 00 Index. 0.34% 2.06% 2.42% 2.42% -.69% 2.27% 8.9% High Dividend Yield Index /6/2006 0623 Domestic measures the investment return of common stocks of companies that are characterized by high dividend yields. 0.30% 2.93% 0.3% 0.3% 0.26% 0.80% Page > 7 of 4
Core s: Do-it-yourself investments Large-Cap Index Investor Number Type Objective Risk Level 0/30/2004 0307 Domestic measures the investment return of large-capitalization stocks. Average Annual Total s 0 s 0.26%.69%.44%.44% 0.02% 3.7% Morgan Growth Investor 2/3/968 0026 Domestic Seeks to provide long-term capital appreciation. 0.44% 9.40% -2.6% -2.6% 0.0% 3.4% 9.70% PRIMECAP Core Investor 2/09/2004 220 Domestic Seeks to provide long-term capital appreciation. This fund charges a redemption fee of % on shares held less than year. 0.% 0.36% -0.86% -0.86% 2.78%.7% Total Stock Market Index 04/27/992 008 Domestic measures the investment return of the overall stock market. 0.8% 2.07% 0.96% 0.96% 0.2% 3.7% 8.07% U.S. Growth 0/06/99 0023 Domestic Seeks to provide long-term capital appreciation. 0.44% 9.66% -0.68% -0.68% 0.48% 0.04% 9.73% U.S. Value 06/29/2000 024 Domestic Seeks to provide long-term capital appreciation and income. 0.29% 3.33% 3.23% 3.23% -2.60% 2.93% 3.90% Value Index /02/992 0006 Domestic measures the investment return of large-capitalization value stocks. 0.26% 2.44%.00%.00% -2.43% 3.39% 8.09% Windsor 0/23/98 0022 Domestic Seeks to provide long-term capital appreciation and income. 0.33% 2.04% -4.00% -4.00% -3.30% 2.0%.00% Windsor II 06/24/98 0073 Domestic Seeks to provide long-term capital appreciation and income. 0.3% 2.8% 2.70% 2.70% -.36% 4.22% 0.8% Page > 8 of 4
Core s: Do-it-yourself investments REIT Index Number Type Objective Risk Level 0/3/996 023 Real estate Seeks to provide a high level of income and moderate long-term capital appreciation by tracking the performance of a benchmark index that measures the performance of publicly traded equity REITs. This fund charges a redemption fee of % on shares held less than year. Average Annual Total s 0 s 0.26%.20% 8.47% 8.47% -.06% 0.9% 0.32% Capital Opportunity 08/4/99 0 Domestic Seeks to provide long-term capital appreciation. This fund charges a redemption fee of % on shares held less than year. 0.48% 0.70% -6.8% -6.8% 0.89%.6% 0.2% Explorer 2//967 0024 Domestic Seeks to provide long-term capital appreciation. 0.49% 3.37% -.89% -.89%.29% 4.69% 8.63% Extended Market Index 2/2/987 0098 Domestic measures the investment return of small- and mid-capitalization stocks. 0.30% 3.0% -3.73% -3.73%.0% 6.9% 9.96% Growth Equity Investor Mid-Cap Growth Investor 03//992 044 Domestic 2/3/997 030 Domestic Seeks to provide long-term capital appreciation. 0.% 9.9% 0.49% 0.49% 0.%.0% 6.38% Seeks to provide long-term capital appreciation. 0.% 0.8%.7%.7% 3.74%.32% 8.8% Mid-Cap Growth Index 08/24/2006 0832 Domestic measures the investment return of mid-capitalization growth stocks. 0.26% 0.26% -3.84% -3.84%.87% 3.4% Mid-Cap Index Investor 0/2/998 089 Domestic measures the investment return of mid-capitalization stocks. 0.26% 2.06% -2.% -2.%.2% 6.60% 7.82% Page > 9 of 4
Core s: Do-it-yourself investments Mid-Cap Value Index Number Type Objective Risk Level 08/24/2006 083 Domestic measures the investment return of mid-capitalization value stocks. Average Annual Total s 0 s 0.26% 3.79% -0.44% -0.44% 0.9% 2.39% PRIMECAP /0/984 009 Domestic Seeks to provide long-term capital appreciation. This fund charges a redemption fee of % on shares held less than year. 0.4% 0.48% -.84% -.84% 2.34%.34% 2.79% Selected Value Investor 02//996 0934 Domestic Seeks to provide long-term capital appreciation and income. This fund charges a redemption fee of % on shares held less than year. 0.47% 3.46% 0.82% 0.82%.0% 7.4% 7.3% Small-Cap Growth Index 0/2/998 086 Domestic measures the investment return of small-capitalization growth stocks. 0.26% 4.8% -.8% -.8% 3.72% 7.43% 6.49% Small-Cap Index Investor 0/03/960 0048 Domestic measures the investment return of small-capitalization stocks. 0.3%.03% -2.80% -2.80%.79% 6.60% 0.26% Small-Cap Value Index 0/2/998 0860 Domestic measures the investment return of small-capitalization value stocks. 0.37%.8% -4.6% -4.6% -0.3% 6.2% 6.2% Strategic Equity Investor Strategic Small-Cap Equity Investor 08/4/99 04 Domestic 04/24/2006 06 Domestic Seeks to provide long-term capital appreciation. 0.3% 3.70%.7%.7% -.42%.74% 8.90% Seeks seeks to provide long-term capital appreciation. 0.48%.70% 0.80% 0.80% -0.4% 0.% Page > 0 of 4
Core s: Do-it-yourself investments Developed Markets Index Investor Number Type Objective Risk Level 0/08/2000 0227 International measures the investment return of stocks issued by companies located in the major markets of Europe and the Pacific region. This fund charges a redemption fee of 2% on shares held less than 2 months. Average Annual Total s 0 s 0.22% 4.0% -2.3% -2.3% -4.64% 4.7%.2% Emerging Markets Stock Index 0/04/994 033 International measures the investment return of stocks issued by companies located in emerging market countries. This fund charges a redemption fee of 0.2%. This fund charges a purchase fee of 0.2%. 0.3%.99% -8.78% -9.8% 2.08% 3.30% 7.27% European Stock Index 06/8/990 0079 International Seeks to provide long-term growth of capital by tracking the performance of the MSCI Europe Index, which is made up of common stocks of companies located in Austria, Belgium, Denmark, Finland, France, Germany, Greece, Ireland, Italy, the Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, and the United Kingdom. This fund charges a redemption fee of 2% on shares held less than 2 months. 0.26%.8% -.60% -.60% -.0% 4.43% 6.83% FTSE All-World ex-us Index 03/08/2007 0770 International measures the investment return of stocks of companies located in developed and emerging markets around the world. This fund charges a redemption fee of 2% on shares held less than 2 months. 0.3% 4.4% -4.4% -4.4% -3.07% Global Equity 08/4/99 029 Global stock fund Seeks to provide long-term capital appreciation. 0.44% 6.76% -8.90% -8.90% -3.49% 6.60% 7.% International Explorer /04/996 026 International Seeks to provide long-term capital appreciation. This fund charges a redemption fee of 2% on shares held less than 2 months. 0.39% 0.4% -9.74% -9.74% -4.07% 8.8% 8.63% International Growth 09/30/98 008 International Seeks to provide long-term capital appreciation. This fund charges a redemption fee of 2% on shares held less than 2 months. 0.47%.99% -3.68% -3.68% -2.02%.7% 0.0% Page > of 4
Core s: Do-it-yourself investments International Value Number Type Objective Risk Level 0/6/983 0046 International Seeks to provide long-term capital appreciation. This fund charges a redemption fee of 2% on shares held less than 2 months. Average Annual Total s 0 s 0.39%.0% -4.8% -4.8% -4.2%.94% 9.02% Pacific Stock Index 06/8/990 0072 International measures the investment return of stocks issued by companies located in the major markets of the Pacific region. This fund charges a redemption fee of 2% on shares held less than 2 months. 0.26% 0.73% -4.00% -4.00% -3.66%.44%.06% Total International Stock Index 04/29/996 03 International measures the investment return of stocks issued by companies located in developed and emerging markets, excluding the United States. This fund charges a redemption fee of 2% on shares held less than 2 months. 0.26% 4.22% -4.6% -4.6% -3.47%.86% 3.76% Energy Health Care Precious Metals and Mining 0/23/984 00 Sector fund Seeks to provide long-term capital appreciation. This fund charges a redemption fee of % on shares held less than year. 0/23/984 002 Sector fund Seeks to provide long-term capital appreciation. This fund charges a redemption fee of % on shares held less than year. 0/23/984 003 Sector fund Seeks to provide long-term capital appreciation. This fund charges a redemption fee of % on shares held less than year. 0.34%.92% -.74% -.74% 3.83% 4.27% 2.7% 0.3% 6.66%.4%.4% 4.03% 6.72% 6.30% 0.27% -0.09% -2.70% -2.70% 2.60% 7.7% 7.4% Page > 2 of 4
A note about risk All investing is subject to risk. Diversification does not ensure a profit or protect against a loss in a declining market. Investments in bond funds are subject to interest rate, credit, and inflation risk. U.S. government backing of Treasury or agency securities applies only to the underlying securities and does not prevent share-price fluctuations. Because high-yield bonds are considered speculative, investors should be prepared to assume a substantially greater level of credit risk than with other types of bonds. Investments in s are subject to the risks of their underlying funds. The year in the fund name refers to the approximate year (the target date) when an investor in the fund would retire and leave the workforce. The fund will gradually shift its emphasis from more aggressive investments to more conservative ones based on its target date. An investment in a is not guaranteed at any time, including on or after the target date. LifeStrategy s are subject to the risks associated with their underlying funds. Prices of midand small-cap stocks often fluctuate more than those of large-company stocks. Foreign investing involves additional risks including currency fluctuations and political uncertainty. Stocks of companies in emerging markets are generally more risky than stocks of companies in developed countries. s that concentrate on a relatively narrow market sector face the risk of higher share-price volatility. Page > 3 of 4
Connect with Vanguard > vanguard.com > 800-23-88 For more information about any fund, including investment objectives, risks, charges, and expenses, call Vanguard at -800-23-88 to obtain a prospectus. The prospectus contains this and other important information about the fund. Read and consider the prospectus information carefully before you invest. You can also download Vanguard fund prospectuses at vanguard.com. An investment in a money market fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Although a money market fund seeks to preserve the value of your investment at $ per share, it is possible to lose money by investing in such a fund. *The annual cost of running the fund, expressed as a percentage of the fund's assets. For funds with underlying funds, the expense ratio is the average weighted expense ratio of the underlying funds. This data is as of the most recent prospectus for the fund as of December 3, 20. The yield quotation more closely reflects the current earnings of the money market fund than the total return quotations. Risk level takes into account the different types of risk applicable to each fund's asset class and investment style. Standard & Poor s, S&P, S&P 00, Standard & Poor s 00, and 00 are registered trademarks of Standard & Poor s Financial Services LLC ( S&P ) and have been licensed for use by The Vanguard Group, Inc. Vanguard mutual funds are not sponsored, endorsed, sold, or promoted by S&P or its affiliates, and S&P and its affiliates make no representation, warranty, or condition regarding the advisability of buying, selling, or holding units/shares in the funds. The Russell Indexes and Russell are registered trademarks of Russell Investments and have been licensed for use by The Vanguard Group, Inc. The products are not sponsored, endorsed, sold, or promoted by Russell Investments and Russell Investments makes no representation regarding the advisability of investing in the products. FTSE and FTSE4Good are trademarks jointly owned by the London Stock Exchange plc and The Financial Times Limited and are used by FTSE International Limited under license. "All-World" is a trademark of FTSE International Limited. The FTSE4Good US Select Index and the FTSE All-World ex US Index are calculated by FTSE International Limited. FTSE International Limited does not sponsor, endorse, or promote the fund; is not in any way connected to it; and does not accept any liability in relation to its issue, operation, and trading. Participant Education P.O. Box 2900 Valley Forge, PA 9482-2900 202 The Vanguard Group, Inc. All rights reserved. Vanguard Marketing Corporation, Distributor of the Vanguard s. 090078FG Page > 4 of 4