Vanguard Telecommunication Services ETF (the Fund) is an exchange-traded share class of Vanguard Telecommunication Services Index Fund. The Fund employs a passive management or indexing, investment approach designed to track the performance of the MSCI US Investable Market Telecommunication Services Index, an index of stocks of large, medium, and small United States companies in the telecommunication services sector, as classified under the Global Industry Classification Standard (GICS). This GICS sector is made up of companies that provide communications services primarily through a fixed-line, cellular, wireless, high bandwidth, and/or fiber-optic cable network. The Fund seeks to track the performance of a benchmark index that measures the investment return of telecommunication services stocks. The Vanguard Group, Inc., through its Quantitative Equity Group, serves as the investment advisor of the Fund.