Vanguard Emerging Markets Bond Fund - Investor Euro Hedged Accumulation Shares/  IE00BKLWXS37  /

The Fund seeks to provide total return while generating a moderate level of income by investing primarily in bonds of issuers in emerging market countries. The Fund employs an "active management" strategy, aiming to outperform the J.P. Morgan EMBI Global Diversified Index (the "Index"), over the cycle, and in doing so, the Investment Manager will follow distinct approaches in managing the Fund's assets. The Fund invests in fixed income securities of various maturities, yields, and qualities. Under normal circumstances, the Fund will invest at least 80% of its assets in fixed income securities of issuers that are tied economically to emerging market countries. The Fund seeks to have a majority of its assets denominated in or hedged back to the U.S. dollar but has the ability to invest in bonds denominated in a local currency on an unhedged basis. Emerging market bonds include sovereign debt securities, which include fixed income securities that are issued or guaranteed by foreign governments or their agencies, authorities, political subdivisions or instrumentalities, or other supranational agencies, as well as debt securities issued or guaranteed by foreign corporations and foreign financial institutions.

The Fund seeks to provide total return while generating a moderate level of income by investing primarily in bonds of issuers in emerging market countries.