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Press release from Business Wire

Vanguard Announces Revised Estimated 2013 Annual Capital Gains Distributions for the Vanguard ETFs

Friday, December 13, 2013

Vanguard Announces Revised Estimated 2013 Annual Capital Gains Distributions for the Vanguard ETFs

15:06 EST Friday, December 13, 2013

TORONTO (Business Wire) -- Vanguard Investments Canada Inc. today announced revised estimated annual capital gains distributions for the Vanguard ETFsTM listed below for the 2013 tax year. These estimates replace the previous estimates issued in a press release dated December 5, 2013. Please note that these are estimated amounts only as of December 10, 2013 and reflect forward-looking information which may cause the estimates to change before the ETFs' December 15, 2013 tax year-end .

These estimates are for the year-end capital gains distributions only, which will be re-invested and the resulting units immediately consolidated, so that the number of units held by each investor will not change. These estimates do not include estimates of ongoing monthly or quarterly distribution amounts.

Vanguard expects to announce the final year-end distribution amounts, as well as the monthly and quarterly cash distribution amounts, on or about December 18, 2013. The ex-dividend date for the 2013 annual distributions will be December 27, 2013. The record date for the 2013 annual distributions will be December 31, 2013, payable on January 6, 2014.

Vanguard ETF   TSX   Net asset   Estimated   Estimated
Ticker value (NAV) annual annual
Symbol per unit as capital capital
at Dec 10, gain per gain per
2013 ($) unit as at unit as %
Dec 10, of NAV at
2013 ($) Dec 10,
Vanguard FTSE Canada Index ETF   VCE   27.8679   0.1374   0.4931%
Vanguard FTSE Canada All Cap Index ETF   VCN   26.6130   0.0102   0.0382%
Vanguard FTSE Canadian High Dividend Yield Index ETF   VDY   29.4057   0.0611   0.2076%
Vanguard S&P 500 Index ETF   VFV   34.0151   0.0010   0.0029%
Vanguard FTSE Canadian Capped REIT Index ETF   VRE   24.1712   0.0324   0.1340%
Vanguard FTSE Emerging Markets Index ETF   VEE   26.4115   0.0041   0.0155%

Vanguard's ten other TSX-listed ETFs are not expected to make capital gains distributions.

Forward-looking information

This notice contains forward-looking statements with respect to the estimated December 2013 capital gains distributions for the Vanguard ETFs. By their nature, these forward-looking statements involve risks and uncertainties that could cause the actual distributions to differ materially from those contemplated by the forward-looking statements. Material factors that could cause the actual distributions to differ from the estimated distributions include, but are not limited to, the actual amounts of distributions received by the Vanguard ETFs, portfolio transactions, currency hedging transactions, and subscription and redemption activity.

To learn more about the TSX-listed Vanguard ETFs, please visit

About Vanguard

Vanguard Investments Canada Inc. is a wholly owned indirect subsidiary of The Vanguard Group, Inc. Vanguard is one of the world's largest investment management companies and a leading provider of company-sponsored retirement plan services. Vanguard manages more than $2.7 trillion in global assets. Vanguard offers more than 160 funds to U.S. investors and more than 80 additional funds in non-U.S. markets. For more information, please visit

All asset figures are as of September 30, 2013, unless otherwise noted.

Commissions, management fees and expenses all may be associated with the Vanguard ETFs™. This offering is only made by prospectus. The prospectus contains important detailed information about the securities being offered. Copies are available from Vanguard Investments Canada Inc. at . Please read the prospectus before investing. ETFs are not guaranteed, their values change frequently, and past performance may not be repeated.

"S&P 500®” is a registered trademark of Standard & Poor's Financial Services LLC. “FTSE®” is a trademark of London Stock Exchange Group companies and is used by FTSE under licence. These trademarks have been licenced for use by Vanguard. None of the Vanguard ETFs are sponsored, endorsed, sold or promoted by any of the aforementioned trademark owners and the related index providers and their respective affiliates or their third party licensors and these entities bear no liability and make no claim, prediction, representation, warranty or condition regarding the advisability of buying, selling or holding units in the Vanguard ETFs.

For more information, contact Vanguard Public Relations at 610-669-5002

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