Vanguard Charitable investment options: High quality at unbeatable costs


Our proprietary lineup of 35 carefully curated investment options was specifically chosen to support strategic philanthropy. Vanguard investments underlie the majority of Vanguard Charitable investment options, and we adhere to Vanguard’s time-tested investment principles, emphasizing diversification, low costs, and a long-term outlook.

Headlined by our leading Portfolio Solutions, our lineup contains options to fit your individual investing style, charitable timeframe, preferred asset allocation, and risk tolerance. Mix and match investments to best meet your specific goals. The end result is more charitable dollars for the causes you care about most.

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Preferred Label:

  • Preferred Portfolio Solutions represent best practices in charitable portfolio construction and are highly diversified, uniquely cost-effective, and a strong foundation for near- and long-term giving. 
  • Preferred Portfolio Builders are low-cost, individual building blocks that are among the most-used charitable investments by Vanguard Charitable donors. 

 

Our leading, pre-allocated investments, managed and rebalanced regularly by seasoned professionals, come at ultra-low costs and free you to focus on your charitable impact.

more-info-iconLast updated 04/16/2024

Preferred

Expense Ratio

more-info-icon Last updated 12/31/2023

0.01%

Risk/granting time horizon

Risk level 2

Returns

more-info-iconLast updated 12/31/2023

Qtr

7.66%

1 Yr

9.06%

5 Yrs

3.57%

10 Yrs

Target Allocation

80% Bond
20% Stock

Management

more-info-iconActive funds focus on outperforming the market compared to a specific benchmark through a portfolio manager’s selections. Passive funds seek to mimic benchmarks by tracking an index

passive

Goal

Seeks to provide current income and some capital appreciation through a target allocation of 20% stocks and 80% bonds.

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134
Preferred

Expense Ratio

more-info-icon Last updated 12/31/2023

0.02%

Risk/granting time horizon

Risk level 3

Returns

more-info-iconLast updated 12/31/2023

Qtr

8.59%

1 Yr

12.32%

5 Yrs

6.04%

10 Yrs

5.10%

Target Allocation

60% Bond
40% Stock

Management

more-info-iconActive funds focus on outperforming the market compared to a specific benchmark through a portfolio manager’s selections. Passive funds seek to mimic benchmarks by tracking an index

passive

Goal

Seeks to provide current income and low to moderate capital appreciation through a target allocation of 40% stocks and 60% bonds.

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135
Preferred

Expense Ratio

more-info-icon Last updated 12/31/2023

0.02%

Risk/granting time horizon

Risk level 3

Returns

more-info-iconLast updated 12/31/2023

Qtr

9.61%

1 Yr

15.16%

5 Yrs

9.29%

10 Yrs

7.41%

Target Allocation

40% Bond
60% Stock

Management

more-info-iconActive funds focus on outperforming the market compared to a specific benchmark through a portfolio manager’s selections. Passive funds seek to mimic benchmarks by tracking an index

passive

Goal

Seeks to provide growth of capital and a reasonable level of current income through a target allocation of roughly 60-65% stocks and 35-40% bonds.

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136
Preferred

Expense Ratio

more-info-icon Last updated 02/27/2024

0.03%

Risk/granting time horizon

Risk level 4

Returns

more-info-iconLast updated 12/31/2023

Qtr

10.58%

1 Yr

19.41%

5 Yrs

10.53%

10 Yrs

7.84%

Target Allocation

20% Bond
80% Stock

Management

more-info-iconActive funds focus on outperforming the market compared to a specific benchmark through a portfolio manager’s selections. Passive funds seek to mimic benchmarks by tracking an index

passive

Goal

Seeks to provide capital appreciation and some current income through a target allocation of 80% stocks and 20% bonds.

Add to compare
137

Expense Ratio

more-info-icon Last updated 03/31/2024

0.18%

Risk/granting time horizon

Risk level 3

Returns

more-info-iconLast updated 12/31/2023

Qtr

9.64%

1 Yr

14.41%

5 Yrs

9.62%

10 Yrs

Target Allocation

35% Bond
65% Stock

Management

more-info-iconActive funds focus on outperforming the market compared to a specific benchmark through a portfolio manager’s selections. Passive funds seek to mimic benchmarks by tracking an index

active

Goal

Seeks long-term capital appreciation and reasonable current income, with moderate risk.

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132

Expense Ratio

more-info-icon Last updated 12/31/2023

0.06%

Risk/granting time horizon

Risk level 3

Returns

more-info-iconLast updated 12/31/2023

Qtr

10.03%

1 Yr

17.59%

5 Yrs

9.63%

10 Yrs

Target Allocation

40% Bond
60% Stock

Management

more-info-iconActive funds focus on outperforming the market compared to a specific benchmark through a portfolio manager’s selections. Passive funds seek to mimic benchmarks by tracking an index

passive

Goal

Seeks capital appreciation, current income, and long-term growth of income.

Add to compare
143

These diverse, individual building blocks span asset classes and granting timeframes, and can be used to create a more customized charitable investment portfolio.

Index building blocks

Investment fees range from 0.01% to 0.11%

more-info-iconLast updated 04/16/2024

Create the basis of your charitable portfolio

Expense Ratio

more-info-iconLast updated 12/31/2023

0.04%

Risk/granting time horizon

Risk level 1

Returns

more-info-iconLast updated 12/31/2023

Qtr

2.62%

1 Yr

4.63%

5 Yrs

10 Yrs

Benchmark

Bloomberg U.S. 0-5 Year Treasury Inflation Protected Securities Index

Management

more-info-iconActive funds focus on outperforming the market compared to a specific benchmark through a portfolio manager’s selections. Passive funds seek to mimic benchmarks by tracking an index

passive

Goal

Seeks to offer protection against inflation with reduced price volatility through exposure to shorter-duration inflation-protected treasury bonds.

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1574
Preferred

Expense Ratio

more-info-iconLast updated 12/31/2023

0.01%

Risk/granting time horizon

Risk level 2

Returns

more-info-iconLast updated 12/31/2023

Qtr

6.65%

1 Yr

5.72%

5 Yrs

1.13%

10 Yrs

1.79%

Benchmark

Spliced Bloomberg Barclays U.S. Aggregate Float Adjusted Index

Management

more-info-iconActive funds focus on outperforming the market compared to a specific benchmark through a portfolio manager’s selections. Passive funds seek to mimic benchmarks by tracking an index

passive

Goal

Seeks to provide broad exposure to the investment-grade U.S. bond market.

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139

Expense Ratio

more-info-iconLast updated 12/31/2023

0.07%

Risk/granting time horizon

Risk level 2

Returns

more-info-iconLast updated 12/31/2023

Qtr

6.51%

1 Yr

8.89%

5 Yrs

0.90%

10 Yrs

Benchmark

Bloomberg Barclays Global Aggregate ex-USD Float Adjusted RIC Capped Index (USD Hedged)

Management

more-info-iconActive funds focus on outperforming the market compared to a specific benchmark through a portfolio manager’s selections. Passive funds seek to mimic benchmarks by tracking an index

passive

Goal

Seeks to provide a diversified portfolio of U.S. dollar hedged, high-quality international bonds.

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138
Preferred

Expense Ratio

more-info-iconLast updated 12/31/2023

0.04%

Risk/granting time horizon

Risk level 4

Returns

more-info-iconLast updated 12/31/2023

Qtr

11.74%

1 Yr

23.03%

5 Yrs

12.74%

10 Yrs

9.19%

Benchmark

Composite benchmark return: 55% S&P 500 Index, 15% S&P Completion Index, and 30% Spliced Total International Stock Market Index.

Management

more-info-iconActive funds focus on outperforming the market compared to a specific benchmark through a portfolio manager’s selections. Passive funds seek to mimic benchmarks by tracking an index

passive

Goal

Seeks to provide growth of capital through a 100% allocation to U.S. and international stocks.

Add to compare
140
Preferred

Expense Ratio

more-info-iconLast updated 12/31/2023

0.01%

Risk/granting time horizon

Risk level 4

Returns

more-info-iconLast updated 12/31/2023

Qtr

12.20%

1 Yr

26.04%

5 Yrs

15.10%

10 Yrs

11.44%

Benchmark

Spliced Total Stock Market Index

Management

more-info-iconActive funds focus on outperforming the market compared to a specific benchmark through a portfolio manager’s selections. Passive funds seek to mimic benchmarks by tracking an index

passive

Goal

Seeks to provide exposure to large-, mid- and small-cap equities diversified across growth and value styles.
 

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141

Expense Ratio

more-info-iconLast updated 12/31/2023

0.02%

Risk/granting time horizon

Risk level 4

Returns

more-info-iconLast updated 12/31/2023

Qtr

11.67%

1 Yr

26.25%

5 Yrs

10 Yrs

Benchmark

Standard & Poor’s 500 Index

Management

more-info-iconActive funds focus on outperforming the market compared to a specific benchmark through a portfolio manager’s selections. Passive funds seek to mimic benchmarks by tracking an index

passive

Goal

Seeks to track the performance of the Standard & Poor's 500 Index, which measures the investment return of large-cap stocks. 

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1572

Expense Ratio

more-info-iconLast updated 12/31/2023

0.04%

Risk/granting time horizon

Risk level 4

Returns

more-info-iconLast updated 12/31/2023

Qtr

14.42%

1 Yr

46.72%

5 Yrs

10 Yrs

Benchmark

CRSP US Large Cap Growth Index

Management

more-info-iconActive funds focus on outperforming the market compared to a specific benchmark through a portfolio manager’s selections. Passive funds seek to mimic benchmarks by tracking an index

passive

Goal

Seeks to track the performance of CRSP US Large Cap Growth Index, providing exposure to a broad range of U.S. growth-oriented stocks as determined by a variety of growth factors.

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1573

Expense Ratio

more-info-iconLast updated 12/31/2023

0.04%

Risk/granting time horizon

Risk level 4

Returns

more-info-iconLast updated 12/31/2023

Qtr

9.12%

1 Yr

9.29%

5 Yrs

10 Yrs

Benchmark

CRSP US Large-Cap Value Index

Management

more-info-iconActive funds focus on outperforming the market compared to a specific benchmark through a portfolio manager’s selections. Passive funds seek to mimic benchmarks by tracking an index

passive

Goal

Seeks to track the performance of CRSP US Large Cap Value Index, providing exposure to a broad range of U.S. value-oriented stocks as determined by a variety of value factors.

Add to compare
1576

Expense Ratio

more-info-iconLast updated 12/31/2023

0.10%

Risk/granting time horizon

Risk level 4

Returns

more-info-iconLast updated 12/31/2023

Qtr

18.11%

1 Yr

5 Yrs

10 Yrs

Benchmark

MSCI U.S. IM Real Estate 25/50 Index

Management

more-info-iconActive funds focus on outperforming the market compared to a specific benchmark through a portfolio manager’s selections. Passive funds seek to mimic benchmarks by tracking an index

passive

Goal

Seeks to provide a high level of income and moderate long-term capital appreciation by tracking a benchmark index that measures the performance of publicly traded REITs and other real estate-related investments. 

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1688

Expense Ratio

more-info-iconLast updated 12/31/2023

0.04%

Risk/granting time horizon

Risk level 5

Returns

more-info-iconLast updated 12/31/2023

Qtr

15.10%

1 Yr

25.39%

5 Yrs

10 Yrs

Benchmark

S&P Completion Index

Management

more-info-iconActive funds focus on outperforming the market compared to a specific benchmark through a portfolio manager’s selections. Passive funds seek to mimic benchmarks by tracking an index

passive

Goal

Seeks to track the performance of the S&P Completion Index, providing broad exposure to U.S. small- and mid-cap stocks. 

Add to compare
1575

Expense Ratio

more-info-iconLast updated 02/28/2024

0.08%

Risk/granting time horizon

Risk level 5

Returns

more-info-iconLast updated 12/31/2023

Qtr

10.00%

1 Yr

15.52%

5 Yrs

7.38%

10 Yrs

4.12%

Benchmark

Spliced Total International Stock Index

Management

more-info-iconActive funds focus on outperforming the market compared to a specific benchmark through a portfolio manager’s selections. Passive funds seek to mimic benchmarks by tracking an index

passive

Goal

Seeks to provide broad exposure across developed and emerging non-U.S. equity markets.
 

Add to compare
142

Expense Ratio

more-info-iconLast updated 09/30/2023

0.08%

Risk/granting time horizon

Risk level 5

Returns

more-info-iconLast updated 09/30/2023

Qtr

-2.15%

1 Yr

10.98%

5 Yrs

2.02%

10 Yrs

2.50%

Benchmark

FTSE Emerging Markets All Cap China A Inclusion Index

Management

more-info-iconActive funds focus on outperforming the market compared to a specific benchmark through a portfolio manager’s selections. Passive funds seek to mimic benchmarks by tracking an index

passive

Goal

Targets emerging markets common stocks.

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129

Expense Ratio

more-info-iconLast updated 02/27/2024

0.09%

Risk/granting time horizon

Risk level 5

Returns

more-info-iconLast updated 12/31/2023

Qtr

12.11%

1 Yr

20.03%

5 Yrs

9.17%

10 Yrs

4.34%

Benchmark

Spliced European Stock Index

Management

more-info-iconActive funds focus on outperforming the market compared to a specific benchmark through a portfolio manager’s selections. Passive funds seek to mimic benchmarks by tracking an index

passive

Goal

Targets European common stocks and is diversified across developed markets.

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131

Expense Ratio

more-info-iconLast updated 09/30/2023

0.08%

Risk/granting time horizon

Risk level 5

Returns

more-info-iconLast updated 09/30/2023

Qtr

-3.52%

1 Yr

20.21%

5 Yrs

1.56%

10 Yrs

3.71%

Benchmark

Spliced Pacific Stock Index

Management

more-info-iconActive funds focus on outperforming the market compared to a specific benchmark through a portfolio manager’s selections. Passive funds seek to mimic benchmarks by tracking an index

passive

Goal

Targets Pacific-region common stocks.

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130

Active building blocks

Investment fees range from 0.07% to 0.38%

more-info-iconLast updated 04/16/2024

Include additional international region exposure to your portfolio

Preferred

Expense Ratio

more-info-iconLast updated 12/31/2023

0.10%

Risk/granting time horizon

Risk level 1

Returns

more-info-iconLast updated 12/31/2023

Qtr

1.27%

1 Yr

5.05%

5 Yrs

1.83%

10 Yrs

1.22%

Benchmark

US Gov't Money Market Funds Average

Management

more-info-iconActive funds focus on outperforming the market compared to a specific benchmark through a portfolio manager’s selections. Passive funds seek to mimic benchmarks by tracking an index

active

Goal

Seeks to provide income while maintaining liquidity and a stable share price. Invests primarily in U.S. government agency obligations.

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133

Expense Ratio

more-info-iconLast updated 12/31/2023

0.10%

Risk/granting time horizon

Risk level 1

Returns

more-info-iconLast updated 12/31/2023

Qtr

2.12%

1 Yr

5 Yrs

10 Yrs

Benchmark

Bloomberg U.S. Treasury Bellweathers: 1 Year Index

Management

more-info-iconActive funds focus on outperforming the market compared to a specific benchmark through a portfolio manager’s selections. Passive funds seek to mimic benchmarks by tracking an index

active

Goal

Seeks to provide current income while maintaining limited price volatility and aggregate performance consistent with ultra-short-term, investment-grade, fixed-income securities.

Add to compare
1696

Expense Ratio

more-info-iconLast updated 12/31/2023

0.07%

Risk/granting time horizon

Risk level 1

Returns

more-info-iconLast updated 12/31/2023

Qtr

3.91%

1 Yr

6.20%

5 Yrs

2.12%

10 Yrs

1.96%

Benchmark

Bloomberg Barclays U.S. 1-5 Year Credit Index

Management

more-info-iconActive funds focus on outperforming the market compared to a specific benchmark through a portfolio manager’s selections. Passive funds seek to mimic benchmarks by tracking an index

passive

Goal

Seeks current income with limited price volatility and provides exposure to short-term, investment-grade fixed income securities.

Add to compare
124

Expense Ratio

more-info-iconLast updated 12/31/2023

0.10%

Risk/granting time horizon

Risk level 2

Returns

more-info-iconLast updated 12/31/2023

Qtr

6.79%

1 Yr

5 Yrs

10 Yrs

Underlying funds

Benchmark

Bloomberg U.S. Aggregate Float Adjusted Index

Management

more-info-iconActive funds focus on outperforming the market compared to a specific benchmark through a portfolio manager’s selections. Passive funds seek to mimic benchmarks by tracking an index

active

Goal

Seeks to provide total return while generating a moderate level of current income with diversified exposure primarily to investment-grade U.S. bonds.

Add to compare
1687

Expense Ratio

more-info-iconLast updated 12/31/2023

0.13%

Risk/granting time horizon

Risk level 3

Returns

more-info-iconLast updated 12/31/2023

Qtr

7.37%

1 Yr

5 Yrs

10 Yrs

Benchmark

High-Yield Corporate Composite Index

Management

more-info-iconActive funds focus on outperforming the market compared to a specific benchmark through a portfolio manager’s selections. Passive funds seek to mimic benchmarks by tracking an index

active

Goal

Seeks a high and sustainable level of current income by investing primarily in below-investment-grade corporate securities offering attractive yields.

Add to compare
1689

Expense Ratio

more-info-iconLast updated 12/31/2023

0.30%

Risk/granting time horizon

Risk level 4

Returns

more-info-iconLast updated 12/31/2023

Qtr

10.41%

1 Yr

5 Yrs

10 Yrs

Benchmark

S&P U.S. Dividend Growers Index TR

Management

more-info-iconActive funds focus on outperforming the market compared to a specific benchmark through a portfolio manager’s selections. Passive funds seek to mimic benchmarks by tracking an index

active

Goal

Seeks to invest in a diversified array of stable, well-managed companies that have a history of or a potential for growing dividends over time.

Add to compare
1695

Expense Ratio

more-info-iconLast updated 01/07/2024

0.20%

Risk/granting time horizon

Risk level 4

Returns

more-info-iconLast updated 12/31/2023

Qtr

15.45%

1 Yr

5 Yrs

10 Yrs

Benchmark

Russell 1000 Growth Index

Management

more-info-iconActive funds focus on outperforming the market compared to a specific benchmark through a portfolio manager’s selections. Passive funds seek to mimic benchmarks by tracking an index

active

Goal

Seeks long-term capital appreciation by investing in a portfolio of large-cap stocks believed to have superior sustainable growth potential at reasonable valuations.

Add to compare
1686

Expense Ratio

more-info-iconLast updated 12/31/2023

0.26%

Risk/granting time horizon

Risk level 4

Returns

more-info-iconLast updated 12/31/2023

Qtr

11.76%

1 Yr

5 Yrs

10 Yrs

Benchmark

Russell 1000 Value Index

Management

more-info-iconActive funds focus on outperforming the market compared to a specific benchmark through a portfolio manager’s selections. Passive funds seek to mimic benchmarks by tracking an index

active

Goal

Seeks long-term capital appreciation and income by investing in a broadly diversified portfolio of mid- and large-cap value stocks.

Add to compare
1690

Expense Ratio

more-info-iconLast updated 12/31/2023

0.34%

Risk/granting time horizon

Risk level 5

Returns

more-info-iconLast updated 12/31/2023

Qtr

13.32%

1 Yr

5 Yrs

10 Yrs

Benchmark

Russell 2500 Growth Index

Management

more-info-iconActive funds focus on outperforming the market compared to a specific benchmark through a portfolio manager’s selections. Passive funds seek to mimic benchmarks by tracking an index

active

Goal

Seeks long-term capital appreciation by investing in a broad universe of small- and mid-cap growth stocks.

Add to compare
1694

Expense Ratio

more-info-iconLast updated 12/31/2023

0.38%

Risk/granting time horizon

Risk level 5

Returns

more-info-iconLast updated 12/31/2023

Qtr

9.67%

1 Yr

5 Yrs

10 Yrs

Benchmark

MSCI All Country World Index ex USA Net

Management

more-info-iconActive funds focus on outperforming the market compared to a specific benchmark through a portfolio manager’s selections. Passive funds seek to mimic benchmarks by tracking an index

active

Goal

Seeks to provide actively managed equity exposure to mid- and large-cap international stocks.

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1692

Expense Ratio

more-info-iconLast updated 12/31/2023

0.21%

Risk/granting time horizon

Risk level 5

Returns

more-info-iconLast updated 12/31/2023

Qtr

-2.18%

1 Yr

5 Yrs

10 Yrs

Benchmark

Bloomberg Commodity Index Total Return

Management

more-info-iconActive funds focus on outperforming the market compared to a specific benchmark through a portfolio manager’s selections. Passive funds seek to mimic benchmarks by tracking an index

active

Goal

Seeks to provide broad commodities exposure and capital appreciation.

Add to compare
1693

Values-driven Investments

Investment fees range from 0.09% to 0.59%

more-info-iconLast updated 04/16/2024

Utilize these funds for a broad exposure

Expense Ratio

more-info-iconLast updated 09/30/2023

0.09%

Risk/granting time horizon

Risk level 4

Returns

more-info-iconLast updated 09/30/2023

Qtr

-3.71%

1 Yr

21.17%

5 Yrs

10 Yrs

Benchmark

FTSE U.S. All Cap Choice Index

Management

more-info-iconActive funds focus on outperforming the market compared to a specific benchmark through a portfolio manager’s selections. Passive funds seek to mimic benchmarks by tracking an index

passive

Goal

Seeks to track the performance of a benchmark index that measures the investment return of large-, mid-, and small-capitalization stocks of U.S. companies, while adhering to certain environmental, social, and corporate governance criteria.

Add to compare
128

Expense Ratio

more-info-iconLast updated 09/30/2023

0.10%

Risk/granting time horizon

Risk level 4

Returns

more-info-iconLast updated 09/30/2023

Qtr

-3.94%

1 Yr

20.77%

5 Yrs

10 Yrs

Benchmark

70% FTSE U.S. All Cap Choice Index

30% FTSE Global All Cap ex U.S. Choice Index

Management

more-info-iconActive funds focus on outperforming the market compared to a specific benchmark through a portfolio manager’s selections. Passive funds seek to mimic benchmarks by tracking an index

passive

Goal

Provides exposure to U.S. and International stocks screened for certain environmental, social, and corporate governance criteria through a targeted, professionally rebalanced allocation of 70% U.S. and 30% International equity.

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125

Expense Ratio

more-info-iconLast updated 12/31/2023

0.59%

Risk/granting time horizon

Risk level 4

Returns

more-info-iconLast updated 12/31/2023

Qtr

13.83%

1 Yr

5 Yrs

10 Yrs

Benchmark

MSCI All Country World Index 

Management

more-info-iconActive funds focus on outperforming the market compared to a specific benchmark through a portfolio manager’s selections. Passive funds seek to mimic benchmarks by tracking an index

active

Goal

Seeks capital appreciation with an emphasis on investing in businesses that deliver positive change by contributing towards a more sustainable and inclusive world.

Add to compare
1691

Expense Ratio

more-info-iconLast updated 09/30/2023

0.12%

Risk/granting time horizon

Risk level 5

Returns

more-info-iconLast updated 09/30/2023

Qtr

-4.62%

1 Yr

19.22%

5 Yrs

10 Yrs

Benchmark

FTSE Global All Cap ex U.S. Choice Index

Management

more-info-iconActive funds focus on outperforming the market compared to a specific benchmark through a portfolio manager’s selections. Passive funds seek to mimic benchmarks by tracking an index

passive

Goal

Seeks to track the performance of a benchmark index that measures the investment return of large-, mid-, and small-capitalization companies located in developed and emerging markets outside of the United States, while adhering to certain environmental, social, and corporate governance criteria.

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127
Print

0.01%

Risk level 2

Qtr

7.66%

1 Yr

9.06%

5 Yrs

3.57%

10 Yrs

Target Allocation

80% Bond
20% Stock
Management

more-info-iconActive funds focus on outperforming the market compared to a specific benchmark through a portfolio manager’s selections. Passive funds seek to mimic benchmarks by tracking an index

passive

Goal

Seeks to provide current income and some capital appreciation through a target allocation of 20% stocks and 80% bonds.

Commentary

The Income portfolio solution is designed for those seeking to maximize their charitable giving in the next 0-5 years, while maintaining or growing their account assets. This lower risk, multi-fund investment option is intended to preserve a majority of principal while investing a small portion of assets into equities (stocks).


0.02%

Risk level 3

Qtr

8.59%

1 Yr

12.32%

5 Yrs

6.04%

10 Yrs

5.10%

Target Allocation

60% Bond
40% Stock
Management

more-info-iconActive funds focus on outperforming the market compared to a specific benchmark through a portfolio manager’s selections. Passive funds seek to mimic benchmarks by tracking an index

passive

Goal

Seeks to provide current income and low to moderate capital appreciation through a target allocation of 40% stocks and 60% bonds.

Commentary

The Conservative Growth portfolio solution is designed for those with current, ongoing grants who are also seeking to invest for future grants in approximately 5-10 years. This investment option is intended to preserve a majority of principal while investing a moderate portion into equities (stocks).


0.02%

Risk level 3

Qtr

9.61%

1 Yr

15.16%

5 Yrs

9.29%

10 Yrs

7.41%

Target Allocation

40% Bond
60% Stock
Management

more-info-iconActive funds focus on outperforming the market compared to a specific benchmark through a portfolio manager’s selections. Passive funds seek to mimic benchmarks by tracking an index

passive

Goal

Seeks to provide growth of capital and a reasonable level of current income through a target allocation of roughly 60-65% stocks and 35-40% bonds.

Commentary

The Moderate Growth portfolio solution is designed for those who are willing to take on more risk to meet longer-term goals, while continuing to make current, ongoing grants. This option invests in both passive and actively managed funds.


0.03%

Risk level 4

Qtr

10.58%

1 Yr

19.41%

5 Yrs

10.53%

10 Yrs

7.84%

Target Allocation

20% Bond
80% Stock
Management

more-info-iconActive funds focus on outperforming the market compared to a specific benchmark through a portfolio manager’s selections. Passive funds seek to mimic benchmarks by tracking an index

passive

Goal

Seeks to provide capital appreciation and some current income through a target allocation of 80% stocks and 20% bonds.

Commentary

The Growth portfolio solution is designed for those with a longer-term philanthropic time horizon. This investment option provides greater exposure to equities (stocks) to support those with longer-term philanthropic goals. Philanthropists with an eye on the future may utilize this fund to help grow their giving legacy.


0.18%

Risk level 3

Qtr

9.64%

1 Yr

14.41%

5 Yrs

9.62%

10 Yrs

Target Allocation

35% Bond
65% Stock
Management

more-info-iconActive funds focus on outperforming the market compared to a specific benchmark through a portfolio manager’s selections. Passive funds seek to mimic benchmarks by tracking an index

active

Goal

Seeks long-term capital appreciation and reasonable current income, with moderate risk.

Commentary

The Vanguard Wellington™ Fund, founded in 1929, is the nation's oldest balanced mutual fund. Investment in Wellington, a low-cost, actively managed option, provides broad diversification across all economic sectors that can serve as a core portion of a donor's overall investment strategy for long-term philanthropy.


0.06%

Risk level 3

Qtr

10.03%

1 Yr

17.59%

5 Yrs

9.63%

10 Yrs

Target Allocation

40% Bond
60% Stock
Management

more-info-iconActive funds focus on outperforming the market compared to a specific benchmark through a portfolio manager’s selections. Passive funds seek to mimic benchmarks by tracking an index

passive

Goal

Seeks capital appreciation, current income, and long-term growth of income.

Commentary

Balanced Index uses an index sampling and passively managed approach, providing a low-cost option with moderate risk to philanthropists who are balancing short- and long-term giving goals.


Index building blocks

Create the basis of your charitable portfolio


0.04%

Risk level 1

Qtr

2.62%

1 Yr

4.63%

5 Yrs

10 Yrs

Benchmark

Bloomberg U.S. 0-5 Year Treasury Inflation Protected Securities Index

Management

more-info-iconActive funds focus on outperforming the market compared to a specific benchmark through a portfolio manager’s selections. Passive funds seek to mimic benchmarks by tracking an index

passive

Goal

Seeks to offer protection against inflation with reduced price volatility through exposure to shorter-duration inflation-protected treasury bonds.

Commentary

Short-Term Treasury Inflation-Protected Securities may be utilized by donors with shorter-term giving goals and less risk tolerance who are seeking a measure of protection from "unexpected inflation".


0.01%

Risk level 2

Qtr

6.65%

1 Yr

5.72%

5 Yrs

1.13%

10 Yrs

1.79%

Benchmark

Spliced Bloomberg Barclays U.S. Aggregate Float Adjusted Index

Management

more-info-iconActive funds focus on outperforming the market compared to a specific benchmark through a portfolio manager’s selections. Passive funds seek to mimic benchmarks by tracking an index

passive

Goal

Seeks to provide broad exposure to the investment-grade U.S. bond market.

Commentary

Total Bond may be utilized by donors who are not planning a significant amount of immediate granting, but who are working toward giving goals approximately 2-10 years in the future.


0.07%

Risk level 2

Qtr

6.51%

1 Yr

8.89%

5 Yrs

0.90%

10 Yrs

Benchmark

Bloomberg Barclays Global Aggregate ex-USD Float Adjusted RIC Capped Index (USD Hedged)

Management

more-info-iconActive funds focus on outperforming the market compared to a specific benchmark through a portfolio manager’s selections. Passive funds seek to mimic benchmarks by tracking an index

passive

Goal

Seeks to provide a diversified portfolio of U.S. dollar hedged, high-quality international bonds.

Commentary

Total International Bond is designed to provide broad exposure to non-U.S. investment-grade bonds. This option offers diversification and can help reduce volatility of investment returns due to their low correlation to U.S. bonds. It can be aligned with both short-term and long-term goals.


0.04%

Risk level 4

Qtr

11.74%

1 Yr

23.03%

5 Yrs

12.74%

10 Yrs

9.19%

Benchmark

Composite benchmark return: 55% S&P 500 Index, 15% S&P Completion Index, and 30% Spliced Total International Stock Market Index.

Management

more-info-iconActive funds focus on outperforming the market compared to a specific benchmark through a portfolio manager’s selections. Passive funds seek to mimic benchmarks by tracking an index

passive

Goal

Seeks to provide growth of capital through a 100% allocation to U.S. and international stocks.

Commentary

Total Equity, a multi-fund investment option, provides broad diversification and offers exposure to market performance of both U.S. and non-U.S. equities. For donors seeking to design their own target asset allocation, or those with a higher risk threshold and long-term granting plans, this low-cost option may be appealing.


0.01%

Risk level 4

Qtr

12.20%

1 Yr

26.04%

5 Yrs

15.10%

10 Yrs

11.44%

Benchmark

Spliced Total Stock Market Index

Management

more-info-iconActive funds focus on outperforming the market compared to a specific benchmark through a portfolio manager’s selections. Passive funds seek to mimic benchmarks by tracking an index

passive

Goal

Seeks to provide exposure to large-, mid- and small-cap equities diversified across growth and value styles.
 

Commentary

Total U.S. Stock is a broadly diversified equity portfolio and aligns with long-term giving goals. For donors looking to grow their charitable assets over time to plan for a large gift or personal legacy, this fund provides that opportunity through equity investments.


0.02%

Risk level 4

Qtr

11.67%

1 Yr

26.25%

5 Yrs

10 Yrs

Benchmark

Standard & Poor’s 500 Index

Management

more-info-iconActive funds focus on outperforming the market compared to a specific benchmark through a portfolio manager’s selections. Passive funds seek to mimic benchmarks by tracking an index

passive

Goal

Seeks to track the performance of the Standard & Poor's 500 Index, which measures the investment return of large-cap stocks. 

Commentary

The S&P 500 pool is a broadly diversified equity portfolio achieving exposure to US large-cap stocks and aligning with long-term giving goals. 


0.04%

Risk level 4

Qtr

14.42%

1 Yr

46.72%

5 Yrs

10 Yrs

Benchmark

CRSP US Large Cap Growth Index

Management

more-info-iconActive funds focus on outperforming the market compared to a specific benchmark through a portfolio manager’s selections. Passive funds seek to mimic benchmarks by tracking an index

passive

Goal

Seeks to track the performance of CRSP US Large Cap Growth Index, providing exposure to a broad range of U.S. growth-oriented stocks as determined by a variety of growth factors.

Commentary

For donors with a long-term granting time horizon, an investment in Large-Cap Growth provides exposure to larger U.S. companies in market sectors that tend to grow more quickly than the broader market. These stocks may be more volatile than their value counterparts. 


0.04%

Risk level 4

Qtr

9.12%

1 Yr

9.29%

5 Yrs

10 Yrs

Benchmark

CRSP US Large-Cap Value Index

Management

more-info-iconActive funds focus on outperforming the market compared to a specific benchmark through a portfolio manager’s selections. Passive funds seek to mimic benchmarks by tracking an index

passive

Goal

Seeks to track the performance of CRSP US Large Cap Value Index, providing exposure to a broad range of U.S. value-oriented stocks as determined by a variety of value factors.

Commentary

For donors with a long-term granting time horizon, an investment in Large-Cap Value provides exposure to larger U.S. companies in market sectors that tend to grow at a slower pace than the broader market and may be temporarily undervalued by investors. 


0.10%

Risk level 4

Qtr

18.11%

1 Yr

5 Yrs

10 Yrs

Benchmark

MSCI U.S. IM Real Estate 25/50 Index

Management

more-info-iconActive funds focus on outperforming the market compared to a specific benchmark through a portfolio manager’s selections. Passive funds seek to mimic benchmarks by tracking an index

passive

Goal

Seeks to provide a high level of income and moderate long-term capital appreciation by tracking a benchmark index that measures the performance of publicly traded REITs and other real estate-related investments. 

Commentary

For donors with a long-term granting horizon, Real Estate provides an additional level of diversification for a traditional stock and bond based portfolio.


0.04%

Risk level 5

Qtr

15.10%

1 Yr

25.39%

5 Yrs

10 Yrs

Benchmark

S&P Completion Index

Management

more-info-iconActive funds focus on outperforming the market compared to a specific benchmark through a portfolio manager’s selections. Passive funds seek to mimic benchmarks by tracking an index

passive

Goal

Seeks to track the performance of the S&P Completion Index, providing broad exposure to U.S. small- and mid-cap stocks. 

Commentary

For donors with a long-term granting time horizon, an investment in Extended Market offers broad exposure to U.S. small- and mid-cap stocks.


0.08%

Risk level 5

Qtr

10.00%

1 Yr

15.52%

5 Yrs

7.38%

10 Yrs

4.12%

Benchmark

Spliced Total International Stock Index

Management

more-info-iconActive funds focus on outperforming the market compared to a specific benchmark through a portfolio manager’s selections. Passive funds seek to mimic benchmarks by tracking an index

passive

Goal

Seeks to provide broad exposure across developed and emerging non-U.S. equity markets.
 

Commentary

Total International Stock provides greater diversification of equities, which increases both risk and potential return. Donors with long-term or open-ended philanthropic views may utilize this fund to work toward future giving and legacy goals.


0.08%

Risk level 5

Qtr

-2.15%

1 Yr

10.98%

5 Yrs

2.02%

10 Yrs

2.50%

Benchmark

FTSE Emerging Markets All Cap China A Inclusion Index

Management

more-info-iconActive funds focus on outperforming the market compared to a specific benchmark through a portfolio manager’s selections. Passive funds seek to mimic benchmarks by tracking an index

passive

Goal

Targets emerging markets common stocks.

Commentary

For donors with a long-term granting time horizon, an investment in Emerging Markets provides a portfolio with a larger allocation of stocks in this region and introduces a higher level of risk inherent in international stock investments.


0.09%

Risk level 5

Qtr

12.11%

1 Yr

20.03%

5 Yrs

9.17%

10 Yrs

4.34%

Benchmark

Spliced European Stock Index

Management

more-info-iconActive funds focus on outperforming the market compared to a specific benchmark through a portfolio manager’s selections. Passive funds seek to mimic benchmarks by tracking an index

passive

Goal

Targets European common stocks and is diversified across developed markets.

Commentary

For donors with a long-term granting time horizon, an investment in European Stock provides a portfolio with a larger allocation of stocks in this region and introduces a higher level of risk inherent in international stock investments.


0.08%

Risk level 5

Qtr

-3.52%

1 Yr

20.21%

5 Yrs

1.56%

10 Yrs

3.71%

Benchmark

Spliced Pacific Stock Index

Management

more-info-iconActive funds focus on outperforming the market compared to a specific benchmark through a portfolio manager’s selections. Passive funds seek to mimic benchmarks by tracking an index

passive

Goal

Targets Pacific-region common stocks.

Commentary

For donors with a long-term granting time horizon, an investment in Pacific Stock provides a portfolio with a larger allocation of stocks in this region and introduces a higher level of risk inherent in international stock investments.


Active building blocks

Include additional international region exposure to your portfolio


0.10%

Risk level 1

Qtr

1.27%

1 Yr

5.05%

5 Yrs

1.83%

10 Yrs

1.22%

Benchmark

US Gov't Money Market Funds Average

Management

more-info-iconActive funds focus on outperforming the market compared to a specific benchmark through a portfolio manager’s selections. Passive funds seek to mimic benchmarks by tracking an index

active

Goal

Seeks to provide income while maintaining liquidity and a stable share price. Invests primarily in U.S. government agency obligations.

Commentary

The Money Market investment option can be utilized to maintain an account balance in preparation for immediate giving needs. While donors may grant from Money Market, it is not necessary to make grants solely from this investment option.


0.10%

Risk level 1

Qtr

2.12%

1 Yr

5 Yrs

10 Yrs

Benchmark

Bloomberg U.S. Treasury Bellweathers: 1 Year Index

Management

more-info-iconActive funds focus on outperforming the market compared to a specific benchmark through a portfolio manager’s selections. Passive funds seek to mimic benchmarks by tracking an index

active

Goal

Seeks to provide current income while maintaining limited price volatility and aggregate performance consistent with ultra-short-term, investment-grade, fixed-income securities.

Commentary

Ultra-Short-Term Bond may be utilized by donors with a shorter-term granting horizon and less risk tolerance.


0.07%

Risk level 1

Qtr

3.91%

1 Yr

6.20%

5 Yrs

2.12%

10 Yrs

1.96%

Benchmark

Bloomberg Barclays U.S. 1-5 Year Credit Index

Management

more-info-iconActive funds focus on outperforming the market compared to a specific benchmark through a portfolio manager’s selections. Passive funds seek to mimic benchmarks by tracking an index

passive

Goal

Seeks current income with limited price volatility and provides exposure to short-term, investment-grade fixed income securities.

Commentary

Donors with ongoing granting plans or current charitable goals may consider utilizing Short-Term Bond. This fund may be used as part of a diversified portfolio aligned to immediate and short-term giving goals.


0.10%

Risk level 2

Qtr

6.79%

1 Yr

5 Yrs

10 Yrs

Benchmark

Bloomberg U.S. Aggregate Float Adjusted Index

Underlying funds

Management

more-info-iconActive funds focus on outperforming the market compared to a specific benchmark through a portfolio manager’s selections. Passive funds seek to mimic benchmarks by tracking an index

active

Goal

Seeks to provide total return while generating a moderate level of current income with diversified exposure primarily to investment-grade U.S. bonds.

Commentary

For donors with a long-term granting horizon, Core Bond seeks to outperform the Bloomberg U.S. Aggregate Float Index by investing in fixed-income securities of various maturities, yields, and qualities.


0.13%

Risk level 3

Qtr

7.37%

1 Yr

5 Yrs

10 Yrs

Benchmark

High-Yield Corporate Composite Index

Management

more-info-iconActive funds focus on outperforming the market compared to a specific benchmark through a portfolio manager’s selections. Passive funds seek to mimic benchmarks by tracking an index

active

Goal

Seeks a high and sustainable level of current income by investing primarily in below-investment-grade corporate securities offering attractive yields.

Commentary

For donors with a long-term granting horizon, an investment in High-Yield Corporate seeks to diversify their equity and fixed-income investments with below-investment-grade fixed-income holdings.


0.30%

Risk level 4

Qtr

10.41%

1 Yr

5 Yrs

10 Yrs

Benchmark

S&P U.S. Dividend Growers Index TR

Management

more-info-iconActive funds focus on outperforming the market compared to a specific benchmark through a portfolio manager’s selections. Passive funds seek to mimic benchmarks by tracking an index

active

Goal

Seeks to invest in a diversified array of stable, well-managed companies that have a history of or a potential for growing dividends over time.

Commentary

For donors with a long-term granting horizon seeking to own large-cap stocks that trade at a discount to the market or that possess an attractive risk/reward profile.


0.20%

Risk level 4

Qtr

15.45%

1 Yr

5 Yrs

10 Yrs

Benchmark

Russell 1000 Growth Index

Management

more-info-iconActive funds focus on outperforming the market compared to a specific benchmark through a portfolio manager’s selections. Passive funds seek to mimic benchmarks by tracking an index

active

Goal

Seeks long-term capital appreciation by investing in a portfolio of large-cap stocks believed to have superior sustainable growth potential at reasonable valuations.

Commentary

For donors with a long-term granting horizon, U.S. Growth generally seeks an actively managed, multimanager investment in mostly large-cap U.S. growth companies.


0.26%

Risk level 4

Qtr

11.76%

1 Yr

5 Yrs

10 Yrs

Benchmark

Russell 1000 Value Index

Management

more-info-iconActive funds focus on outperforming the market compared to a specific benchmark through a portfolio manager’s selections. Passive funds seek to mimic benchmarks by tracking an index

active

Goal

Seeks long-term capital appreciation and income by investing in a broadly diversified portfolio of mid- and large-cap value stocks.

Commentary

For donors with a long-term granting horizon, Windsor II seeks an actively managed, multimanager investment in U.S. mid- and large-cap value companies.


0.34%

Risk level 5

Qtr

13.32%

1 Yr

5 Yrs

10 Yrs

Benchmark

Russell 2500 Growth Index

Management

more-info-iconActive funds focus on outperforming the market compared to a specific benchmark through a portfolio manager’s selections. Passive funds seek to mimic benchmarks by tracking an index

active

Goal

Seeks long-term capital appreciation by investing in a broad universe of small- and mid-cap growth stocks.

Commentary

For donors with a long-term granting horizon, Explorer seeks an actively managed, multimanager investment in U.S. small- and mid-cap growth companies.


0.38%

Risk level 5

Qtr

9.67%

1 Yr

5 Yrs

10 Yrs

Benchmark

MSCI All Country World Index ex USA Net

Management

more-info-iconActive funds focus on outperforming the market compared to a specific benchmark through a portfolio manager’s selections. Passive funds seek to mimic benchmarks by tracking an index

active

Goal

Seeks to provide actively managed equity exposure to mid- and large-cap international stocks.

Commentary

For donors with a long-term granting horizon seeking actively managed investments in international mid- and large-cap companies.


0.21%

Risk level 5

Qtr

-2.18%

1 Yr

5 Yrs

10 Yrs

Benchmark

Bloomberg Commodity Index Total Return

Management

more-info-iconActive funds focus on outperforming the market compared to a specific benchmark through a portfolio manager’s selections. Passive funds seek to mimic benchmarks by tracking an index

active

Goal

Seeks to provide broad commodities exposure and capital appreciation.

Commentary

For donors with a long-term granting horizon, an investment in Commodity Strategy seeks to diversify a portfolio with commodity-linked investments backed by a portfolio of inflation-linked investments and other fixed-income securities.


Values-driven Investments

Utilize these funds for a broad exposure


0.09%

Risk level 4

Qtr

-3.71%

1 Yr

21.17%

5 Yrs

10 Yrs

Benchmark

FTSE U.S. All Cap Choice Index

Management

more-info-iconActive funds focus on outperforming the market compared to a specific benchmark through a portfolio manager’s selections. Passive funds seek to mimic benchmarks by tracking an index

passive

Goal

Seeks to track the performance of a benchmark index that measures the investment return of large-, mid-, and small-capitalization stocks of U.S. companies, while adhering to certain environmental, social, and corporate governance criteria.

Commentary

ESG U.S. Stock allows donors to align charitable investments with personal values. Companies are screened for certain ESG criteria, and the fund utilizes three levels of restrictiveness for exclusions, as companies are screened on primary (i.e., producer/manufacturer) and, in most cases, secondary (i.e., retailer/supplier) involvement in the ESG exclusion categories using revenue-based thresholds. Least restrictive categories include adult entertainment, alcohol, and gambling. Moderately restrictive categories include tobacco, cannabis, and conventional (military) weapons. Most restrictive categories include controversial weapons, civilian firearms, nuclear power, and fossil fuels. The index fund also excludes stocks of certain companies that the index provider determines do not meet standards of U.N. global compact principles and companies that do not meet certain diversity criteria.


0.10%

Risk level 4

Qtr

-3.94%

1 Yr

20.77%

5 Yrs

10 Yrs

Benchmark

70% FTSE U.S. All Cap Choice Index

30% FTSE Global All Cap ex U.S. Choice Index

Management

more-info-iconActive funds focus on outperforming the market compared to a specific benchmark through a portfolio manager’s selections. Passive funds seek to mimic benchmarks by tracking an index

passive

Goal

Provides exposure to U.S. and International stocks screened for certain environmental, social, and corporate governance criteria through a targeted, professionally rebalanced allocation of 70% U.S. and 30% International equity.

Commentary

ESG Global Stock, a proprietary blend of ESG U.S. Stock and ESG International Stock, provides a broad diversification of equities, including a global investment allocation, in a passively managed index fund that is professionally rebalanced daily to maintain target allocation. For donors with a higher risk threshold and long-term granting plans, this low-cost and professionally-rebalanced values-driven fund may be an option.


0.59%

Risk level 4

Qtr

13.83%

1 Yr

5 Yrs

10 Yrs

Benchmark

MSCI All Country World Index 

Management

more-info-iconActive funds focus on outperforming the market compared to a specific benchmark through a portfolio manager’s selections. Passive funds seek to mimic benchmarks by tracking an index

active

Goal

Seeks capital appreciation with an emphasis on investing in businesses that deliver positive change by contributing towards a more sustainable and inclusive world.

Commentary

For donors with a long-term granting horizon, Baillie Gifford Global Positive Impact Stock Fund seeks growth companies with the potential to outperform the fund’s benchmark over the long term that the portfolio managers consider to have core ambitions of delivering positive change. 


0.12%

Risk level 5

Qtr

-4.62%

1 Yr

19.22%

5 Yrs

10 Yrs

Benchmark

FTSE Global All Cap ex U.S. Choice Index

Management

more-info-iconActive funds focus on outperforming the market compared to a specific benchmark through a portfolio manager’s selections. Passive funds seek to mimic benchmarks by tracking an index

passive

Goal

Seeks to track the performance of a benchmark index that measures the investment return of large-, mid-, and small-capitalization companies located in developed and emerging markets outside of the United States, while adhering to certain environmental, social, and corporate governance criteria.

Commentary

ESG International Stock allows donors to align charitable investments with personal values. Companies are screened for certain ESG criteria, and the fund utilizes three levels of restrictiveness for exclusions, as companies are screened on primary (i.e., producer/manufacturer) and, in most cases, secondary (i.e., retailer/supplier) involvement in the ESG exclusion categories using revenue-based thresholds. Least restrictive categories include adult entertainment, alcohol, and gambling. Moderately restrictive categories include tobacco, cannabis, and conventional (military) weapons. Most restrictive categories include controversial weapons, civilian firearms, nuclear power, and fossil fuels. The index fund also excludes stocks of certain companies that the index provider determines do not meet standards of U.N. global compact principles and companies that do not meet certain diversity criteria.


Compare Investments with a click

What might your charitable investment portfolio look like? Use our side-by-side tool to compare up to four Vanguard Charitable investment options and see how they complement your giving strategy.  

  • Expense ratios are current as of 06/30/2023.
  • Expense ratios are assessed by the Vanguard mutual funds/exchange-traded funds (ETFs) and vary based on allocation; Vanguard Charitable does not itself charge investment fees. While they may be invested in mutual funds or ETFs, the investment options are not themselves mutual funds, nor are they publicly traded. They are not available for investment by any individual or organization apart from Vanguard Charitable. As such, prospectuses only exist for the underlying mutual funds, and not for the Vanguard Charitable investment options.
  • Account expense ratios utilize the Institutional Plus or Institutional Select share class of the underlying Vanguard mutual funds where applicable.
  • Funds underlying Vanguard Charitable investment options may change without notice so long as the new underlying fund has similar characteristics and goals as the previous underlying fund.
  • Income benchmark: 80% Spliced Bloomberg Barclays U.S. Aggregate Float Adjusted Index, 14% Spliced Total Stock Market Index, 6% Spliced Total International Stock Market Index. Spliced Bloomberg Barclays U.S. Aggregate Float Adjusted Index: Bloomberg Barclays U.S. Aggregate Bond Index through December 31, 2009; Bloomberg Barclays U.S. Aggregate Float Adjusted Index thereafter. Spliced Total Stock Market Index: Dow Jones Wilshire 5000 Index through April 22, 2005; MSCI US Broad Market Index through June 2, 2013; and CRSP US Total Market Index thereafter. Spliced Total International Stock Market Index: Total International Composite Index through August 31, 2006; MSCI EAFE + Emerging Markets Index through December 15, 2010; MSCI ACWI ex US IMI Index through June 2, 2013; and FTSE Global All Cap ex US Index thereafter.
  • Conservative Growth benchmark: 60% Spliced Bloomberg Barclays U.S. Aggregate Float Adjusted Index, 30% Spliced Total Stock Market Index, and 10% Spliced Total International Stock Index. Spliced Bloomberg Barclays U.S. Aggregate Float Adjusted Index: Bloomberg Barclays U.S. Aggregate Bond Index through December 31, 2009; Bloomberg Barclays U.S. Aggregate Float Adjusted Index thereafter. Spliced Total Stock Market Index: Dow Jones Wilshire 5000 Index through April 22, 2005; MSCI US Broad Market Index through June 2, 2013; and CRSP US Total Market Index thereafter. Spliced Total International Stock Market Index:Total International Composite Index through August 31, 2006; MSCI EAFE + Emerging Markets Index through December 15, 2010; MSCI ACWI ex US IMI Index through June 2, 2013; and FTSE Global All Cap ex US Index thereafter.
  • Moderate Growth benchmark: 60% Wilshire 5000 Index and 40% Lehman Aggregate Bond Index through December 31, 2009; 45% Balanced Composite Index, 45% Wellington Composite Index, and 10% Spliced Total International Stock Index thereafter. Balanced Composite Index: Made up of two unmanaged benchmarks, weighted 60% Dow Jones Wilshire 5000 Index and 40% Lehman Aggregate Bond Index through May 31, 2005; 60% MSCI US Broad Market Index and 40% Bloomberg Barclays Capital Aggregate Bond Index through January 14, 2013; and 60% CRSP US Total Market Index and 40% Bloomberg Barclays U.S. Aggregate Float Adjusted Index thereafter. Wellington Composite Index: 65% S&P 500 Index and 35% Lehman Long Credit AA or Better Index through February 29, 2000; 65% S&P 500 Index and 35% Bloomberg Barclays Capital Credit A or Better Index thereafter. Spliced Total International Stock Market Index: Total International Composite Index through August 31, 2006; MSCI EAFE + Emerging Markets Index through December 15, 2010; MSCI ACWI ex US IMI Index through June 2, 2013; and FTSE Global All Cap ex US Index thereafter. *On Thursday, April 13, 2023, the underlying funds of the Moderate Growth investment changed to 42% Vanguard Total Stock Market Index Fund (VSMPX), 40% Vanguard Total Bond Market Index Fund (VBMPX), and 18% Vanguard Total International Stock Index Fund (VTPSX). Previously, the composition had been 45% Vanguard Balanced Index Fund (VBAIX), 45% Vanguard WellingtonTM Fund (VWENX), and 10% Vanguard Total International Stock Index Fund (VTPSX). The investment performance report for the first quarter of 2023 reports the underlying funds as of 03/31/2023. The web page lists the current underlying funds as of 04/13/2023.*
  • Growth benchmark: 80% Wilshire 5000 Index and 20% Lehman Aggregate Bond Index through December 31, 2009; 55% Spliced Total Stock Market Index, 20% Spliced Bloomberg Barclays U.S. Aggregate Float Adjusted Index, and 25% Spliced Total International Stock Market Index thereafter. Spliced Bloomberg Barclays U.S. Aggregate Float Adjusted Index: Bloomberg Barclays U.S. Aggregate Bond Index through December 31, 2009; Bloomberg Barclays U.S. Aggregate Float Adjusted Index thereafter. Spliced Total Stock Market Index: Dow Jones Wilshire 5000 Index through April 22, 2005; MSCI US Broad Market Index through June 2, 2013; and CRSP US Total Market Index thereafter. Spliced Total International Stock Market Index: Total International Composite Index through August 31, 2006; MSCI EAFE + Emerging Markets Index through December 15, 2010; MSCI ACWI ex US IMI Index through June 2, 2013; and FTSE Global All Cap ex US Index thereafter.
  • The underlying fund for the Money Market investment pool has been updated to Vanguard’s Cash Reserves Federal Money Market Fund, reducing the expense ratio to 0.10% as of October 27, 2022. To learn more, read our investment lineup update.
  • Short-Term Treasury Inflation-Protected Securities (Short-Term TIPS) benchmark: Bloomberg U.S. 0-5 YearTreasury Inflation Protected Securities Index.
  • Total Bond benchmark: Spliced Bloomberg Barclays U.S. Aggregate Float Adjusted Index reflects the performance of the Bloomberg Barclays U.S. Aggregate Bond Index through December 31, 2009; Bloomberg Barclays U.S. Aggregate Float Adjusted Index thereafter.
  • Total International Bond benchmark: Bloomberg Barclays Global Aggregate ex-USD Float Adjusted RIC Capped Index Hedged: Includes government, government agency, corporate, and securitized non-U.S. investment grade fixed-income investments, all issued in currencies other than the U.S. dollar and with maturities of more than one year.
  • Total Equity benchmark: 55% S&P 500 Index, 15% S&P Completion Index, and 30% Spliced Total International Stock Market Index. Spliced Total International Stock Market Index: Total International Composite Index through August 31, 2006; MSCI EAFE + Emerging Markets Index through December 15, 2010; MSCI ACWI ex US IMI Index through June 2, 2013; and FTSE Global All Cap ex US Index thereafter.
  • Total U.S. Stock benchmark: Total U.S. Stock benchmark: Spliced Total Stock Market Index reflects the performance of the Dow Jones Wilshire 5000 Index through April 22, 2005; MSCI US Broad Market Index through June 2, 2013; and CRSP US Total Market Index thereafter.
  • S&P 500 benchmark: Standard & Poor’s 500 Index.
  • Large-Cap Value benchmark: CRSP US Large Cap Value Index.
  • Large-Cap Growth benchmark: CRSP US Large Cap Growth Index.
  • Total International Stock benchmark: Spliced Total International Stock Market Index reflects the performance of the Total International Composite Index through August 31, 2006; MSCI EAFE + Emerging Markets Index through December 15, 2010; MSCI ACWI ex US IMI Index through June 2, 2013; and FTSE Global All Cap ex US Index thereafter.
  • Extended Market benchmark: S&P Completion Index.
  • Real Estate benchmark: MSCI U.S. Investable Market Real Estate 25/50 Index.
  • Ultra-Short-Term Bond benchmark: Bloomberg U.S. Treasury Bellwethers: 1 Year Index.
  • Core Bond benchmark: Bloomberg U.S. Aggregate Float Adjusted Index.
  • Windsor II benchmark: Russell 1000 Value Index.
  • U.S. Growth benchmark: Russell 1000 Growth Index.
  • International Core Stock benchmark: MSCI All Country World Index ex USA Net.
  • High-Yield Corporate benchmark: High-Yield Corporate Composite Index.
  • Dividend Growth benchmark: S&P U.S. Dividend Growers Index Total Return.  
  • Explorer benchmark: Russell 2500 Growth Index.
  • Commodity Strategy benchmark: Bloomberg Commodity Index Total Return.
  • Balanced Index benchmark: Balanced Composite Index: Weighted 60% Dow Jones U.S. Total Stock Market Index (formerly known as the Dow Jones Wilshire 5000 Index) and 40% Lehman Brothers U.S. Aggregate Bond Index through May 31, 2005; 60% MSCI US Broad Market Index and 40% Bloomberg Barclays U.S. Aggregate Bond Index through December 31, 2009; 60% MSCI US Broad Market Index and 40% Bloomberg Barclays U.S. Aggregate Float Adjusted Index through January 14, 2013; and 60% CRSP US Total Market Index and 40% Bloomberg Barclays U.S. Aggregate Float Adjusted Index thereafter.
  • Wellington benchmark: Wellington Composite Index: 65% S&P 500 Index and 35% Lehman U.S. Long Credit AA or Better Bond Index through February 29, 2000; 65% S&P 500 Index and 35% Bloomberg Barclays U.S. Credit A or Better Bond Index thereafter.
  • TIFF MAP: An actively managed, globally diversified portfolio of traditional and alternative investments, MAP features an annualized expense ratio that is greater than that of passive portfolios or active/passive mixed portfolios. Performance is shown net of all fees and expenses. For the year-ended 12/31/2021, the annualized expense ratio was 1.51%. This fee includes 0.18% of performance fees paid to external managers and 0.35% of expenses for securities sold short. The Multi-Asset Pool is generally available to accounts with ongoing balances over $100,000. Refer to our Policies & Guidelines for more information.
  • European Stock benchmark: Spliced European Stock Index reflects performance of the MSCI Europe Index through March 26, 2013; FTSE Developed Europe Index through September 30, 2015; and FTSE Developed Europe All Cap Index thereafter.
  • Pacific Stock benchmark: Spliced Pacific Stock Index reflects performance of the MSCI Pacific Index through March 26, 2013; FTSE Developed Asia Pacific Index through September 30, 2015; and FTSE Developed Asia Pacific All Cap Index thereafter.
  • Emerging Markets benchmark: Spliced Emerging Markets Index reflects performance of the Select Emerging Markets Index through August 23, 2006; the MSCI Emerging Markets Index through January 9, 2013; the FTSE Emerging Transition Index through June 27, 2013; the FTSE Emerging Index through November 1, 2015; the FTSE Emerging Markets All Cap China A Transition Index through September 18, 2016; and the FTSE Emerging Markets All Cap China A Inclusion Index thereafter.
  • Underlying funds for the Values-Driven Investment options are Vanguard exchange-traded funds. However, all Vanguard Charitable investment options are traded once daily and pricing is based on the NAV.
  • ESG U.S. Stock benchmark: FTSE U.S. All Cap Choice Index
  • ESG International Stock benchmark: FTSE Global All Cap ex U.S. Choice Index
  • ESG Global Stock Pool Benchmark: Weighted 70% FTSE U.S. All Cap Choice Index and 30% FTSE Global All Cap ex U.S. Choice Index.
  • Baillie Gifford Global Positive Impact Stock Fund benchmark: MSCI All Country World Index Net.
  • The potential for risk in Vanguard funds can be categorized in levels from 1 to 5. Learn more in our FAQs.
  • Any Portfolio Solutions option can be combined with other Solutions, Portfolio Builders, and Values-Driven Investment options.
 

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