Overview

Investment Objective

The Portfolio seeks to provide capital appreciation and current income.

Investment Strategy

The Portfolio invests in two Vanguard® stock index funds and two Vanguard bond index funds, resulting in an allocation of 50% of its assets to stocks and 50% of its assets to investment-grade bonds. The percentages of the Portfolio's assets allocated to each Fund are:

Vanguard Total Stock Market Index Fund (30%)
Vanguard Total International Stock Index Fund (20%)
Vanguard Total Bond Market II Index Fund (35%)
Vanguard Total International Bond Index Fund (15%)

Through its ownership of the two stock funds, the Portfolio indirectly owns primarily large-capitalization U.S. stocks and, to a lesser extent, mid-, small-, and micro-capitalization U.S. stocks, and international stocks. Through its ownership of Vanguard Total Bond Market II Index Fund, the Portfolio also indirectly holds a mix of bonds—including government, corporate, and international dollar-denominated bonds, as well as mortgage-backed and asset-backed securities—that represent a wide spectrum of public, investment-grade, taxable, fixed income securities in the United States, all with maturities of more than 1 year. The Fund maintains a dollar-weighted average maturity consistent with that of the Bloomberg Barclays U.S. Aggregate Float Adjusted Index, which generally ranges between 5 and 10 years. Through its ownership of Vanguard Total International Bond Index Fund, the Portfolio also indirectly holds government, government agency, corporate, and securitized non-U.S. investment-grade fixed income investments, all issued in currencies other than the U.S. dollar and with maturities of more than 1 year. To minimize the currency risk associated with investment in bonds denominated in currencies other than the U.S. dollar, the Fund attempts to hedge its currency exposures.

Investment Risks

Because it invests mainly in stock funds, the Portfolio primarily is subject to stock market risk. Through its bond fund holdings, the Portfolio has low to moderate levels of interest rate risk, credit risk, income risk, call risk, prepayment risk, and extension risk. The Portfolio also has low to moderate levels of country/regional risk, currency risk, and emerging markets risk, and low levels of currency hedging risk, nondiversification risk, index sampling risk, and derivatives risk.

Average Annual Returns

**Note - ID 529 Moderate Growth Composite reflects monthly re-balancing through February, 28 2013 and daily rebalancing thereafter.
**Consists of the Spliced Bloomberg Barclays U.S. Aggregate Float Adjusted Index (35%), the Bloomberg Barclays Global Aggregate ex-USD Float Adjusted RIC Capped Index (USD Hedged) (15%), the CRSP US Total Market Index (30%), and the FTSE Global All Cap ex US Index (20%). The CRSP US Total Market Index replaced the MSCI US Broad Market Index (on June 3, 2013), which had replaced the Dow Jones Wilshire 5000 Index (on April 22, 2005). The Spliced Bloomberg Barclays U.S. Aggregate Float Adjusted Index consists of the Barclays U.S. Aggregate Bond Index through December 31, 2009; and the Bloomberg Barclays U.S. Aggregate Float Adjusted Index thereafter. Effective September 29, 2016, Barclays indexes were rebranded to Bloomberg Barclays indexes.The FTSE Global All Cap ex US Index replaced the MSCI ACWI ex USA IMI Index (on June 3, 2013), which had replaced the MSCI EAFE + Emerging Markets Index (on December 16, 2010).

Annual Investment Returns

Historical Prices

Brand: idaho

Fund ID: 1013016

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