Vanguard Tax-Managed Capital App I (Vanguard Tax-Managed Capital Ap) Fonds

The advisor uses statistical methods to sample the target index, meaning that it holds a range of securities that, in the aggregate, approximates other characteristics and the performance of the Target Index, while seeking to achieve capital gains and income tax efficiency. The target index, which is made up of common stocks of large- and mid-capitalization U.S. companies.