Vanguard World Fund

06/15/2026 | Press release | Distributed by Public on 06/15/2026 08:00

Prospectus by Investment Company (Form 497)

Vanguard Funds

Supplement to the Prospectuses, Summary Prospectuses, and Statements of Additional Information

Vanguard is deeply saddened to announce the passing of Gerard O'Reilly, Principal of Vanguard and co-portfolio manager of 15 Vanguard funds.

In light of this sad news, all references to Gerard O'Reilly are hereby deleted from the Prospectus, Summary Prospectus, and Statement of Additional Information for each Vanguard fund listed in the table below (each, an "Impacted Fund" and collectively, the "Impacted Funds"). Aaron Choi, Kenny Narzikul, Chris Nieves, and Jena Stenger remain portfolio managers of each Vanguard fund listed in the table below. Aaron, Kenny, Chris, Jena, and the entirety of the Vanguard Portfolio Management team have benefitted from Gerry's strong leadership and expertise over the years, and will help carry his commitment to serving Vanguard investors forward.

The Impacted Funds' investment objectives, strategies, and policies remain unchanged.

Impacted Fund

Co-Portfolio Managers

Vanguard Dividend Appreciation Index Fund

Kenny Narzikul and Jena Stenger

Vanguard ESG U.S. Stock ETF

Aaron Choi and Chris Nieves

Vanguard FTSE Social Index Fund

Aaron Choi and Chris Nieves

Vanguard Growth Index Fund

Aaron Choi and Jena Stenger

Vanguard High Dividend Yield Index Fund

Chris Nieves and Jena Stenger

Vanguard Mega Cap Growth Index Fund

Chris Nieves and Jena Stenger

Vanguard Mega Cap Index Fund

Chris Nieves and Jena Stenger

Vanguard Mega Cap Value Index Fund

Chris Nieves and Jena Stenger

Vanguard Real Estate Index Fund

Chris Nieves and Jena Stenger

Vanguard Real Estate II Index Fund

Chris Nieves and Jena Stenger

Vanguard Small-Cap Growth Index Fund

Aaron Choi and Kenny Narzikul

Vanguard Small-Cap Index Fund

Aaron Choi and Kenny Narzikul

Vanguard Small-Cap Value Index Fund

Aaron Choi and Kenny Narzikul

Vanguard Value Index Fund

Aaron Choi and Jena Stenger

Impacted Fund

Co-Portfolio Managers

Vanguard Variable Insurance

Chris Nieves and Jena Stenger

Fund-Real Estate Index Portfolio

© 2026 The Vanguard Group, Inc. All rights reserved.

PS PMH 062026

Vanguard Marketing Corporation, Distributor.


Vanguard Funds

Supplement to the Prospectuses, Summary Prospectuses, and Statements of Additional Information

Vanguard is deeply saddened to announce the passing of Gerard O'Reilly, Principal of Vanguard and co-portfolio manager of 15 Vanguard funds.

In light of this sad news, all references to Gerard O'Reilly are hereby deleted from the Prospectus, Summary Prospectus, and Statement of Additional Information for each Vanguard fund listed in the table below (each, an "Impacted Fund" and collectively, the "Impacted Funds"). Aaron Choi, Kenny Narzikul, Chris Nieves, and Jena Stenger remain portfolio managers of each Vanguard fund listed in the table below. Aaron, Kenny, Chris, Jena, and the entirety of the Vanguard Portfolio Management team have benefitted from Gerry's strong leadership and expertise over the years, and will help carry his commitment to serving Vanguard investors forward.

The Impacted Funds' investment objectives, strategies, and policies remain unchanged.

Impacted Fund

Co-Portfolio Managers

Vanguard Dividend Appreciation Index Fund

Kenny Narzikul and Jena Stenger

Vanguard ESG U.S. Stock ETF

Aaron Choi and Chris Nieves

Vanguard FTSE Social Index Fund

Aaron Choi and Chris Nieves

Vanguard Growth Index Fund

Aaron Choi and Jena Stenger

Vanguard High Dividend Yield Index Fund

Chris Nieves and Jena Stenger

Vanguard Mega Cap Growth Index Fund

Chris Nieves and Jena Stenger

Vanguard Mega Cap Index Fund

Chris Nieves and Jena Stenger

Vanguard Mega Cap Value Index Fund

Chris Nieves and Jena Stenger

Vanguard Real Estate Index Fund

Chris Nieves and Jena Stenger

Vanguard Real Estate II Index Fund

Chris Nieves and Jena Stenger

Vanguard Small-Cap Growth Index Fund

Aaron Choi and Kenny Narzikul

Vanguard Small-Cap Index Fund

Aaron Choi and Kenny Narzikul

Vanguard Small-Cap Value Index Fund

Aaron Choi and Kenny Narzikul

Vanguard Value Index Fund

Aaron Choi and Jena Stenger

Impacted Fund

Co-Portfolio Managers

Vanguard Variable Insurance

Chris Nieves and Jena Stenger

Fund-Real Estate Index Portfolio

© 2026 The Vanguard Group, Inc. All rights reserved.

SAI PMH 062026

Vanguard Marketing Corporation, Distributor.


Vanguard World Fund published this content on June 15, 2026, and is solely responsible for the information contained herein. Distributed via EDGAR on June 15, 2026 at 14:01 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]