We are a community of 50 million who thinkand feeldifferently about investing. Together, were changing the way the world invests. Since our founding in 1975, helping investors achieve their goals has been our main reason for existence. At Vanguard, were built differently. Vanguard is investor-owned, meaning the fund shareholders own the funds, which in turn own Vanguard. When youre surrounded by people who care about the same things, things tend to fall into place. With no other parties to answer to and therefore no conflicting loyalties, we make every decisionincluding keeping investing costs as low as possiblewith your needs in mind. Because of our unique structure, your goals align with our goals. Whether youre investing for your first house, college for your kids, or a comfortable retirement, you can be confident were on your side. Thats the value of ownership! Community guidelines: vgi.vg/sgl1