Morningstar Advisor - December 2013/January 2014 - (Page Cover4)

BNDX International Bond ETF Vanguard Total Help extend the reach of your clients' portfolios abroad. Are you Vanguarding® your clients' portfolios? Clients looking to invest in international fixed income now have a new ETF option. With hedged currency exposure that can lead to lower volatility, BNDX has an expense ratio that's 52% lower than the industry average* making it the lowest , in its category. So no matter what your clients' goals are, Vanguard Total International Bond ETF can help achieve them. To find international answers, visit advisors.vanguard.com/BNDX today. 800 890-8499 All investing is subject to risk, including the possible loss of the money you invest. Foreign investing involves additional risks including currency fluctuations and political uncertainty. Total International Bond Index Fund is subject to currency hedging risk, which is the chance that currency hedging transactions may not perfectly offset the fund's foreign currency exposures and may eliminate any chance for a fund to benefit from favorable fluctuations in those currencies. The Fund will incur expenses to hedge its currency exposures. Bond funds are 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. To buy or sell Vanguard ETFs, contact a broker. Usual commissions may apply. An investor may pay more than the net asset value when buying and receive less than net asset value when selling. For more information about Vanguard ETF Shares, visit advisors.vanguard.com/BNDX, call 800 890-8499, 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 0.42% for government and corporate bond ETFs and Vanguard Total International Bond Index Fund ETF expense ratio of 0.20%. The next lowest expense ratio is 0.35%. 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. © 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/BNDX http://advisors.vanguard.com/BNDX http://advisors.vanguard.com/BNDX http://advisors.vanguard.com/BNDX

Table of Contents for the Digital Edition of Morningstar Advisor - December 2013/January 2014

Morningstar Advisor - December 2013/January 2014
Contents
Contributors
Letter From the Editor
What’s Your Purpose?
Working for Gen Y
How to Allocate College Savings
Mobius Looks to a New Frontier
Investments á la Carte
Investment Briefs
How to Manage Bonds for Today and Tomorrow
Cloud Is the New Engine of Growth
Knowing Where to Look
Economic Vulnerability Varies by Country
Factor Investing in Emerging Markets
Following the Rules
Exploring Indexing’s Next Frontiers
Frequent Fliers
Family Blind Spots
Optimal Portfolios for the Long Run
Finding Value in a Pricey Sector
Our Favorite Mutual Funds
50 Most-Popular Equity ETFs
Undervalued Stocks With Wide Moats
The Emerging-Markets Roller Coaster

Morningstar Advisor - December 2013/January 2014