Vanguard FTSE Developed ex North America High Dividend Yield Index ETF

The investment objective of Vanguard FTSE Developed Ex North America High Dividend Yield Index ETF (the ETF) is to track, to the extent reasonably possible and before fees and expenses, the performance of a broad international equity index that measures the investment return of common stocks of companies that are characterized by high dividend yield, with a focus on companies located in developed markets, excluding Canada and the U.S.; Currently, the ETF seeks to track the FTSE Developed ex North America High Dividend Yield Index (the Index or the Benchmark). The Index is a market capitalization-weighted index that aims to capture the performance of common stocks that are characterized by high dividend yield and located in developed markets, excluding the U.S. and Canada.