VANGUARD S&P500 INDX

The Vanguard S&P 500 Index ETF (CAD-hedged) seeks to track the performance of the S&P 500 Index (CAD-Hedged). This Index is a market capitalization-weighted index that is designed to represent the returns of the S&P500 Index, which is comprised of large capitalization U.S. stocks, with the U.S. dollar exposure of the securities included in the S&P 500 Index hedged to the Canadian dollar. There is a chance that returns from large-capitalization stocks will trail returns from the overall stock market. Large-capitalization stocks tend to go through cycles of doing better - or worse - than the stock market in general. These periods have, in the past, lasted for several years. All major industry sectors are represented in the Index.