Morningstar Advisor - August/September 2013 - (Page Cover4)

VWOB Markets Government Bond ETF Vanguard Emerging Round out your clients’ portfolios. Are you Vanguarding® your clients’ portfolios? Giving your clients the exposure that comes with investing in international fixed income just got a little easier. VWOB ETF specializes in emerging markets government bonds and has an expense ratio that’s 36% lower than the industry average* making it the lowest in its category. So wherever your clients’ goals , take them, there’s an International Bond ETF that can help them get there. Extend your clients’ reach at advisors.vanguard.com/VWOB today. 800 523-8399 All investing is subject to risk, including the possible loss of the money you invest. The Emerging Markets Government Bond ETF is subject to the risk that an issuer will fail to make payments on time, and that bond prices will decline because of rising interest rates or negative perceptions of an issuer’s ability to make payments. The ETF seeks to track the performance of an index that measures the investment return of dollar-denominated bonds issued by governments of emerging market countries (including government agencies and government-owned corporations). It is subject to risks including country/regional risk, which is the chance that political upheaval, financial troubles, or natural disasters will adversely affect the value of securities issued by foreign governments, and emerging market risk, which is the chance that bonds of governments located in emerging markets will be substantially more volatile and substantially less liquid than the bonds of governments located in more developed foreign markets. To buy or sell Vanguard ETFs, contact your financial advisor. Usual commissions apply. Not redeemable. Market price may be more or less than NAV. For more information about Vanguard ETF Shares, visit advisors.vanguard.com/VWOB, call 800 523-8399, or contact your broker to obtain a prospectus. Investment objectives, risks, charges, expenses, and other important information are contained in the prospectus; read and consider it carefully before investing. *Source: Morningstar as of 03/01/13. Based on industry average expense ratio of 0.55% for emerging market ETFs and Vanguard Emerging Markets Government Bond Index Fund ETF expense ratio of 0.35%. The next lowest expense ratio is 0.50%. Morningstar data © 2013 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results. There may be other material differences between products that must be considered prior to investing. © 2013 The Vanguard Group, Inc. All rights reserved. U.S. Pat. No. 6,879,964 B2; 7 ,138; 7 ,337 ,720,749; 7 ,925,573; 8,090,646. Vanguard Marketing Corporation, Distributor. Follow us @Vanguard_FA for important insights, news, and education. http://advisors.vanguard.com/VWOB http://advisors.vanguard.com/VWOB http://advisors.vanguard.com/VWOB

Table of Contents for the Digital Edition of Morningstar Advisor - August/September 2013

Morningstar Advisor - August/September 2013
Contents
Contributors
Letter From the Editor
Under Pressure
Has Your View of Bonds Recently Changed?
The Simple Life Cuts a Path to Prosperity
How Extended Is Your Bond Fund?
A Bond Contrarian Scours the Globe for Value
Investments á la Carte
Investment Briefs
Bond Market Behemoths
Shopping in the Digital Age
Shopping in the Digital Age
Diverse Crowd
Motor City Meltdown
Bond Convergence
Corporates Are Fairly Valued, but Opportunities Will Arise
A Legend Still Pines for the Good Fight
Greener Pastures
Forecasting Market Bubbles and Crashes
Forecasting Market Bubbles and Crashes
Home-Court Advantage
Overcoming Technophobia
These Funds Are Counting on Undervalued Sectors
Our Favorite Mutual Funds
50 Most-Popular Equity ETFs
Undervalued Stocks With Wide Moats
What Price Advice?

Morningstar Advisor - August/September 2013