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Investment Performance
Market summary as of December 31, 2019
Stocks surged over the fourth quarter of 2019 thanks to an improving economic outlook, accommodative central bank policies, and a thaw in U.S.-China trade tensions. Both U.S. and global equity markets returned more than 9% for the quarter and more than double that for the year.
Investment Performance
Market summary as of December 31, 2019
Stocks surged over the fourth quarter of 2019 thanks to an improving economic outlook, accommodative central bank policies, and a thaw in U.S.-China trade tensions. Both U.S. and global equity markets returned more than 9% for the quarter and more than double that for the year.
Stocks were lifted in part by the U.S. economy, which grew about 2% in the third quarter, thanks to strong consumer spending and job creation. The U.S. Federal Reserve cut interest rates in October, the third reduction in 2019. The European Central Bank pushed its deposit rate further below zero and, in November, started another round of asset purchases. A first trade deal calling for the United States to reduce tariffs and China to buy large quantities of U.S. farm products also helped results.
The broad fixed income markets, as measured by the Bloomberg Barclays Global Aggregate Bond Index, returned 0.49% for the quarter, primarily because of an initial decline in yields amid global growth concerns and shifts toward more accommodative monetary policy. Sovereign yields declined in most markets following the injection of monetary stimulus. Toward the end of the quarter, the improving economic outlook drove demand for riskier assets and lifted rates.
| Investment Options | Investment Options | Returns Qtr | 1 year | 5 year | 10 year | Expense Ratios (Standard) | Expense Ratios (Select) | Current NAV (Standard) | Current NAV (Select) | Drop content | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Growth | Growth | 7.17% | 23.93% | 8.36% | 10.15% | 0.04% | 0.03% | $30.66 | $32.02 | GrowthReturns Qtr 7.17% 1 year 23.93% 5 year 8.36% 10 year 10.15% Expense Ratios (Standard) 0.04% Expense Ratios (Select) 0.03% Current NAV (Standard) $30.66 Current NAV (Select) $32.02 |
Returns ChartSearch for Historical NAV
No Data Pool Description 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. Risk/granting time horizon
Goal Seeks to provide capital appreciation and some current income through a target allocation of 80% stocks and 20% bonds. Target Allocation 20.00% Bond 80.00% Stock Management  For more about investment management styles, see our FAQs.Passive | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Moderate Growth | Moderate Growth | 5.68% | 22.14% | 8.10% | 9.52% | 0.15% | 0.11% | $36.02 | $37.89 | Moderate GrowthReturns Qtr 5.68% 1 year 22.14% 5 year 8.10% 10 year 9.52% Expense Ratios (Standard) 0.15% Expense Ratios (Select) 0.11% Current NAV (Standard) $36.02 Current NAV (Select) $37.89 |
Returns ChartSearch for Historical NAV
No Data Pool Description 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. Risk/granting time horizon
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. Target Allocation 40.00% Bond 60.00% Stock Management For more about investment management styles, see our FAQs.Active and Passive | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Conservative Growth | Conservative Growth | 3.57% | 16.46% | 5.94% | - | 0.04% | 0.03% | $14.93 | $15.19 | Conservative GrowthReturns Qtr 3.57% 1 year 16.46% 5 year 5.94% 10 year - Expense Ratios (Standard) 0.04% Expense Ratios (Select) 0.03% Current NAV (Standard) $14.93 Current NAV (Select) $15.19 |
Returns ChartSearch for Historical NAV
No Data Pool Description 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). Risk/granting time horizon
Goal Seeks to provide current income and low to moderate capital appreciation through a target allocation of 40% stocks and 60% bonds. Target Allocation 60.00% Bond 40.00% Stock Management For more about investment management styles, see our FAQs.Passive | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Income | Income | 1.80% | 12.47% | - | - | 0.04% | 0.03% | $10.77 | $10.78 | IncomeReturns Qtr 1.80% 1 year 12.47% 5 year - 10 year - Expense Ratios (Standard) 0.04% Expense Ratios (Select) 0.03% Current NAV (Standard) $10.77 Current NAV (Select) $10.78 |
Returns ChartSearch for Historical NAV
No Data Pool Description 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). Risk/granting time horizon
Goal Seeks to provide current income and some capital appreciation through a target allocation of 20% stocks and 80% bonds. Target Allocation 80.00% Bond 20.00% Stock Management For more about investment management styles, see our FAQs.Passive |
| Investment Options | Investment Options | Returns Qtr | 1 year | 5 year | 10 year | Expense Ratios (Standard) | Expense Ratios (Select) | Current NAV (Standard) | Current NAV (Select) | Drop content | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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TIFF Multi-Asset Pool | TIFF Multi-Asset Pool | 6.51% | 18.39% | 5.21% | 6.53% | 1.23% | 1.23% | - | $12.22 | TIFF Multi-Asset PoolReturns Qtr 6.51% 1 year 18.39% 5 year 5.21% 10 year 6.53% Expense Ratios (Standard) 1.23% Expense Ratios (Select) 1.23% Current NAV (Standard) - Current NAV (Select) $12.22 |
Returns ChartSearch for Historical NAV
No Data Pool Description Vanguard Charitable is proud to partner with TIFF Investment Management to offer your account exclusive access to the TIFF Multi Asset Fund. This fund gives qualified donors access to a fully diversified portfolio of traditional and alternative strategies. The underlying managers are institutional quality and the Fund is actively managed by TIFF’s investment team. Risk/granting time horizon
Goal Seeks capital appreciation, current income, and long-term growth of income. Benchmark Balanced Composite Index Management For more about investment management styles, see our FAQs.Active | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Balanced Index | Balanced Index | 5.40% | 21.85% | - | - | 0.07% | 0.06% | $9.67 | $9.68 | Balanced IndexReturns Qtr 5.40% 1 year 21.85% 5 year - 10 year - Expense Ratios (Standard) 0.07% Expense Ratios (Select) 0.06% Current NAV (Standard) $9.67 Current NAV (Select) $9.68 |
Returns ChartSearch for Historical NAV
No Data Pool Description 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. Risk/granting time horizon
Goal Seeks capital appreciation, current income, and long-term growth of income. Benchmark Balanced Composite Index Management For more about investment management styles, see our FAQs.Passive | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total International Stock | Total International Stock | 9.05% | 21.56% | 5.87% | 5.11% | 0.08% | 0.07% | $8.66 | $8.85 | Total International StockReturns Qtr 9.05% 1 year 21.56% 5 year 5.87% 10 year 5.11% Expense Ratios (Standard) 0.08% Expense Ratios (Select) 0.07% Current NAV (Standard) $8.66 Current NAV (Select) $8.85 |
Returns ChartSearch for Historical NAV
No Data Pool Description 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. Risk/granting time horizon
Goal Seeks to provide broad exposure across developed and emerging non-U.S. equity markets. Benchmark Spliced Total International Stock Index Management For more about investment management styles, see our FAQs.Passive | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total U.S. Stock | Total U.S. Stock | 9.01% | 30.83% | 11.20% | 13.42% | 0.03% | 0.02% | $19.44 | $19.55 | Total U.S. StockReturns Qtr 9.01% 1 year 30.83% 5 year 11.20% 10 year 13.42% Expense Ratios (Standard) 0.03% Expense Ratios (Select) 0.02% Current NAV (Standard) $19.44 Current NAV (Select) $19.55 |
Returns ChartSearch for Historical NAV
No Data Pool Description 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. Risk/granting time horizon
Goal Seeks to provide exposure to large-, mid- and small-cap equities diversified across growth and value styles. Benchmark Spliced Total Stock Market Index Management For more about investment management styles, see our FAQs.Passive | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Equity | Total Equity | 9.04% | 27.96% | 9.59% | 11.18% | 0.05% | 0.04% | $19.60 | $20.68 | Total EquityReturns Qtr 9.04% 1 year 27.96% 5 year 9.59% 10 year 11.18% Expense Ratios (Standard) 0.05% Expense Ratios (Select) 0.04% Current NAV (Standard) $19.60 Current NAV (Select) $20.68 |
Returns ChartSearch for Historical NAV
No Data Pool Description 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. Risk/granting time horizon
Goal Seeks to provide growth of capital through a 100% allocation to U.S. and international stocks. Benchmark Composite benchmark return: 55% S&P 500 Index, 15% S&P Completion Index, and 30% Spliced Total International Stock Market Index. Management For more about investment management styles, see our FAQs.Passive | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Bond | Total Bond | 0.09% | 8.77% | 3.01% | 3.67% | 0.035% | 0.03% | $17.34 | $18.01 | Total BondReturns Qtr 0.09% 1 year 8.77% 5 year 3.01% 10 year 3.67% Expense Ratios (Standard) 0.035% Expense Ratios (Select) 0.03% Current NAV (Standard) $17.34 Current NAV (Select) $18.01 |
Returns ChartSearch for Historical NAV
No Data Pool Description 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. Risk/granting time horizon
Goal Seeks to provide broad exposure to the investment-grade U.S. bond market. Benchmark Spliced Bloomberg Barclays U.S. Aggregate Float Adjusted Index Management For more about investment management styles, see our FAQs.Passive | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total International Bond | Total International Bond | -1.29% | 7.78% | - | - | 0.11% | 0.07% | $10.97 | $10.97 | Total International BondReturns Qtr -1.29% 1 year 7.78% 5 year - 10 year - Expense Ratios (Standard) 0.11% Expense Ratios (Select) 0.07% Current NAV (Standard) $10.97 Current NAV (Select) $10.97 |
Returns ChartSearch for Historical NAV
No Data Pool Description 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. Risk/granting time horizon
Goal Seeks to provide a diversified portfolio of U.S. dollar hedged, high-quality international bonds. Benchmark Bloomberg Barclays Global Aggregate ex-USD Float Adjusted RIC Capped Index (USD Hedged) Management For more about investment management styles, see our FAQs.Passive | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Money Market | Money Market | 0.44% | 2.18% | 1.04% | 0.55% | 0.11% | 0.11% | $10.41 | $10.66 | Money MarketReturns Qtr 0.44% 1 year 2.18% 5 year 1.04% 10 year 0.55% Expense Ratios (Standard) 0.11% Expense Ratios (Select) 0.11% Current NAV (Standard) $10.41 Current NAV (Select) $10.66 |
Returns ChartSearch for Historical NAV
No Data Pool Description 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. Risk/granting time horizon
Goal Seeks to provide income while maintaining liquidity and a stable share price. Invests primarily in U.S. government agency obligations. Benchmark U.S. Government Money Market Funds Average Management For more about investment management styles, see our FAQs.Active | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Wellington | Wellington | 5.15% | 22.49% | - | - | 0.25% | 0.17% | $9.55 | $9.59 | WellingtonReturns Qtr 5.15% 1 year 22.49% 5 year - 10 year - Expense Ratios (Standard) 0.25% Expense Ratios (Select) 0.17% Current NAV (Standard) $9.55 Current NAV (Select) $9.59 |
Returns ChartSearch for Historical NAV
No Data Pool Description 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. Risk/granting time horizon
Goal Seeks long-term capital appreciation and reasonable current income, with moderate risk. Benchmark Wellington Composite Index Management For more about investment management styles, see our FAQs.Active | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
European Stock | European Stock | 9.74% | 24.25% | 5.58% | - | 0.10% | 0.08% | $12.36 | $11.58 | European StockReturns Qtr 9.74% 1 year 24.25% 5 year 5.58% 10 year - Expense Ratios (Standard) 0.10% Expense Ratios (Select) 0.08% Current NAV (Standard) $12.36 Current NAV (Select) $11.58 |
Returns ChartSearch for Historical NAV
No Data Pool Description 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. Risk/granting time horizon
Goal Targets European common stocks and is diversified across developed markets. Benchmark Spliced European Stock Index Management For more about investment management styles, see our FAQs.Passive | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Pacific Stock | Pacific Stock | 7.23% | 17.59% | 7.03% | - | 0.10% | 0.08% | $12.68 | $12.44 | Pacific StockReturns Qtr 7.23% 1 year 17.59% 5 year 7.03% 10 year - Expense Ratios (Standard) 0.10% Expense Ratios (Select) 0.08% Current NAV (Standard) $12.68 Current NAV (Select) $12.44 |
Returns ChartSearch for Historical NAV
No Data Pool Description 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. Risk/granting time horizon
Goal Targets Pacific-region common stocks. Benchmark Spliced Pacific Stock Index Management For more about investment management styles, see our FAQs.Passive | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Emerging Markets | Emerging Markets | 11.30% | 20.36% | 5.02% | - | 0.14% | 0.10% | $9.84 | $9.89 | Emerging MarketsReturns Qtr 11.30% 1 year 20.36% 5 year 5.02% 10 year - Expense Ratios (Standard) 0.14% Expense Ratios (Select) 0.10% Current NAV (Standard) $9.84 Current NAV (Select) $9.89 |
Returns ChartSearch for Historical NAV
No Data Pool Description 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. Risk/granting time horizon
Goal Targets emerging markets common stocks. Benchmark Spliced Emerging Markets Index Management For more about investment management styles, see our FAQs.Passive | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Short-Term Bond | Short-Term Bond | 0.62% | 5.83% | 2.56% | 2.74% | 0.10% | 0.07% | $12.75 | $12.91 | Short-Term BondReturns Qtr 0.62% 1 year 5.83% 5 year 2.56% 10 year 2.74% Expense Ratios (Standard) 0.10% Expense Ratios (Select) 0.07% Current NAV (Standard) $12.75 Current NAV (Select) $12.91 |
Returns ChartSearch for Historical NAV
No Data Pool Description 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. Risk/granting time horizon
Goal Seeks current income with limited price volatility and provides exposure to short-term, investment-grade fixed income securities. Benchmark Bloomberg Barclays U.S. 1-5 Year Credit Index Management For more about investment management styles, see our FAQs.Passive |
| Investment Options | Investment Options | Returns Qtr | 1 year | 5 year | 10 year | Expense Ratios (Standard) | Expense Ratios (Select) | Current NAV (Standard) | Current NAV (Select) | Drop content | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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ESG U.S. Stock | ESG U.S. Stock | 9.43% | 33.37% | - | - | 0.12% | 0.12% | $8.95 | $8.99 | ESG U.S. StockReturns Qtr 9.43% 1 year 33.37% 5 year - 10 year - Expense Ratios (Standard) 0.12% Expense Ratios (Select) 0.12% Current NAV (Standard) $8.95 Current NAV (Select) $8.99 |
Returns ChartSearch for Historical NAV
No Data Pool Description ESG U.S. Stock allows donors to align charitable investments with personal values. Companies are screened for certain ESG criteria, and the fund specifically excludes stocks of companies in industries, such as alcohol, tobacco, weapons, adult entertainment, gambling and nuclear power, as well as companies that own fossil fuels reserves. The index fund also excludes stocks of companies that do not meet standards of U.N. global compact principles and companies that do not meet appropriate diversity criteria. Donors looking to grow their portfolios over time with equity investments may wish to utilize this option solely or as part of a diversified portfolio to achieve a range of giving goals. Risk/granting time horizon
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. Benchmark FTSE U.S. All Cap Choice Index Management For more about investment management styles, see our FAQs.Passive | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
ESG International Stock | ESG International Stock | 9.23% | 23.01% | - | - | 0.17% | 0.17% | $8.35 | $8.24 | ESG International StockReturns Qtr 9.23% 1 year 23.01% 5 year - 10 year - Expense Ratios (Standard) 0.17% Expense Ratios (Select) 0.17% Current NAV (Standard) $8.35 Current NAV (Select) $8.24 |
Returns ChartSearch for Historical NAV
No Data Pool Description ESG International Stock allows donors to align charitable investments with personal values. Companies are screened for certain ESG criteria, and the fund specifically excludes stocks of companies in industries, such as alcohol, tobacco, weapons, adult entertainment, gambling and nuclear power, as well as companies that own fossil fuels reserves. The index fund also excludes stocks of companies that do not meet standards of U.N. global compact principles and companies that do not meet appropriate diversity criteria. Donors looking to grow their portfolios over time with equity investments may wish to utilize this option solely or as part of a diversified portfolio to achieve a range of giving goals. Risk/granting time horizon
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. Benchmark FTSE Global All Cap ex U.S. Choice Index Management For more about investment management styles, see our FAQs.Passive | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
ESG Global Stock | ESG Global Stock | 9.39% | 30.35% | - | - | 0.14% | 0.14% | $8.76 | $8.77 | ESG Global StockReturns Qtr 9.39% 1 year 30.35% 5 year - 10 year - Expense Ratios (Standard) 0.14% Expense Ratios (Select) 0.14% Current NAV (Standard) $8.76 Current NAV (Select) $8.77 |
Returns ChartSearch for Historical NAV
No Data Pool Description 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. Risk/granting time horizon
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. Benchmark 70% FTSE U.S. All Cap Choice Index 30% FTSE Global All Cap ex U.S. Choice Index Management For more about investment management styles, see our FAQs.Passive |
| Investment Options | Investment Options | Returns Qtr | 1 year | 5 year | 10 year | Expense Ratios (Standard) | Expense Ratios (Select) | Current NAV (Standard) | Current NAV (Select) | Drop content | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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TIFF Multi-Asset Pool | TIFF Multi-Asset Pool | 6.51% | 18.39% | 5.21% | 6.53% | 1.23% | 1.23% | - | $12.22 | TIFF Multi-Asset PoolReturns Qtr 6.51% 1 year 18.39% 5 year 5.21% 10 year 6.53% Expense Ratios (Standard) 1.23% Expense Ratios (Select) 1.23% Current NAV (Standard) - Current NAV (Select) $12.22 |
Returns ChartSearch for Historical NAV
No Data Pool Description Vanguard Charitable is proud to partner with TIFF Investment Management to offer your account exclusive access to the TIFF Multi Asset Fund. This fund gives qualified donors access to a fully diversified portfolio of traditional and alternative strategies. The underlying managers are institutional quality and the Fund is actively managed by TIFF’s investment team. Risk/granting time horizon
Goal Seeks capital appreciation, current income, and long-term growth of income. Benchmark Balanced Composite Index Management For more about investment management styles, see our FAQs.Active | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Balanced Index | Balanced Index | 5.40% | 21.85% | - | - | 0.07% | 0.06% | $9.67 | $9.68 | Balanced IndexReturns Qtr 5.40% 1 year 21.85% 5 year - 10 year - Expense Ratios (Standard) 0.07% Expense Ratios (Select) 0.06% Current NAV (Standard) $9.67 Current NAV (Select) $9.68 |
Returns ChartSearch for Historical NAV
No Data Pool Description 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. Risk/granting time horizon
Goal Seeks capital appreciation, current income, and long-term growth of income. Benchmark Balanced Composite Index Management For more about investment management styles, see our FAQs.Passive | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total International Stock | Total International Stock | 9.05% | 21.56% | 5.87% | 5.11% | 0.08% | 0.07% | $8.66 | $8.85 | Total International StockReturns Qtr 9.05% 1 year 21.56% 5 year 5.87% 10 year 5.11% Expense Ratios (Standard) 0.08% Expense Ratios (Select) 0.07% Current NAV (Standard) $8.66 Current NAV (Select) $8.85 |
Returns ChartSearch for Historical NAV
No Data Pool Description 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. Risk/granting time horizon
Goal Seeks to provide broad exposure across developed and emerging non-U.S. equity markets. Benchmark Spliced Total International Stock Index Management For more about investment management styles, see our FAQs.Passive | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total U.S. Stock | Total U.S. Stock | 9.01% | 30.83% | 11.20% | 13.42% | 0.03% | 0.02% | $19.44 | $19.55 | Total U.S. StockReturns Qtr 9.01% 1 year 30.83% 5 year 11.20% 10 year 13.42% Expense Ratios (Standard) 0.03% Expense Ratios (Select) 0.02% Current NAV (Standard) $19.44 Current NAV (Select) $19.55 |
Returns ChartSearch for Historical NAV
No Data Pool Description 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. Risk/granting time horizon
Goal Seeks to provide exposure to large-, mid- and small-cap equities diversified across growth and value styles. Benchmark Spliced Total Stock Market Index Management For more about investment management styles, see our FAQs.Passive | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Equity | Total Equity | 9.04% | 27.96% | 9.59% | 11.18% | 0.05% | 0.04% | $19.60 | $20.68 | Total EquityReturns Qtr 9.04% 1 year 27.96% 5 year 9.59% 10 year 11.18% Expense Ratios (Standard) 0.05% Expense Ratios (Select) 0.04% Current NAV (Standard) $19.60 Current NAV (Select) $20.68 |
Returns ChartSearch for Historical NAV
No Data Pool Description 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. Risk/granting time horizon
Goal Seeks to provide growth of capital through a 100% allocation to U.S. and international stocks. Benchmark Composite benchmark return: 55% S&P 500 Index, 15% S&P Completion Index, and 30% Spliced Total International Stock Market Index. Management For more about investment management styles, see our FAQs.Passive | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Bond | Total Bond | 0.09% | 8.77% | 3.01% | 3.67% | 0.035% | 0.03% | $17.34 | $18.01 | Total BondReturns Qtr 0.09% 1 year 8.77% 5 year 3.01% 10 year 3.67% Expense Ratios (Standard) 0.035% Expense Ratios (Select) 0.03% Current NAV (Standard) $17.34 Current NAV (Select) $18.01 |
Returns ChartSearch for Historical NAV
No Data Pool Description 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. Risk/granting time horizon
Goal Seeks to provide broad exposure to the investment-grade U.S. bond market. Benchmark Spliced Bloomberg Barclays U.S. Aggregate Float Adjusted Index Management For more about investment management styles, see our FAQs.Passive | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total International Bond | Total International Bond | -1.29% | 7.78% | - | - | 0.11% | 0.07% | $10.97 | $10.97 | Total International BondReturns Qtr -1.29% 1 year 7.78% 5 year - 10 year - Expense Ratios (Standard) 0.11% Expense Ratios (Select) 0.07% Current NAV (Standard) $10.97 Current NAV (Select) $10.97 |
Returns ChartSearch for Historical NAV
No Data Pool Description 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. Risk/granting time horizon
Goal Seeks to provide a diversified portfolio of U.S. dollar hedged, high-quality international bonds. Benchmark Bloomberg Barclays Global Aggregate ex-USD Float Adjusted RIC Capped Index (USD Hedged) Management For more about investment management styles, see our FAQs.Passive | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Growth | Growth | 7.17% | 23.93% | 8.36% | 10.15% | 0.04% | 0.03% | $30.66 | $32.02 | GrowthReturns Qtr 7.17% 1 year 23.93% 5 year 8.36% 10 year 10.15% Expense Ratios (Standard) 0.04% Expense Ratios (Select) 0.03% Current NAV (Standard) $30.66 Current NAV (Select) $32.02 |
Returns ChartSearch for Historical NAV
No Data Pool Description 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. Risk/granting time horizon
Goal Seeks to provide capital appreciation and some current income through a target allocation of 80% stocks and 20% bonds. Target Allocation 20.00% Bond 80.00% Stock Management For more about investment management styles, see our FAQs.Passive | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Moderate Growth | Moderate Growth | 5.68% | 22.14% | 8.10% | 9.52% | 0.15% | 0.11% | $36.02 | $37.89 | Moderate GrowthReturns Qtr 5.68% 1 year 22.14% 5 year 8.10% 10 year 9.52% Expense Ratios (Standard) 0.15% Expense Ratios (Select) 0.11% Current NAV (Standard) $36.02 Current NAV (Select) $37.89 |
Returns ChartSearch for Historical NAV
No Data Pool Description 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. Risk/granting time horizon
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. Target Allocation 40.00% Bond 60.00% Stock Management For more about investment management styles, see our FAQs.Active and Passive | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Conservative Growth | Conservative Growth | 3.57% | 16.46% | 5.94% | - | 0.04% | 0.03% | $14.93 | $15.19 | Conservative GrowthReturns Qtr 3.57% 1 year 16.46% 5 year 5.94% 10 year - Expense Ratios (Standard) 0.04% Expense Ratios (Select) 0.03% Current NAV (Standard) $14.93 Current NAV (Select) $15.19 |
Returns ChartSearch for Historical NAV
No Data Pool Description 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). Risk/granting time horizon
Goal Seeks to provide current income and low to moderate capital appreciation through a target allocation of 40% stocks and 60% bonds. Target Allocation 60.00% Bond 40.00% Stock Management For more about investment management styles, see our FAQs.Passive | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Income | Income | 1.80% | 12.47% | - | - | 0.04% | 0.03% | $10.77 | $10.78 | IncomeReturns Qtr 1.80% 1 year 12.47% 5 year - 10 year - Expense Ratios (Standard) 0.04% Expense Ratios (Select) 0.03% Current NAV (Standard) $10.77 Current NAV (Select) $10.78 |
Returns ChartSearch for Historical NAV
No Data Pool Description 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). Risk/granting time horizon
Goal Seeks to provide current income and some capital appreciation through a target allocation of 20% stocks and 80% bonds. Target Allocation 80.00% Bond 20.00% Stock Management For more about investment management styles, see our FAQs.Passive | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Money Market | Money Market | 0.44% | 2.18% | 1.04% | 0.55% | 0.11% | 0.11% | $10.41 | $10.66 | Money MarketReturns Qtr 0.44% 1 year 2.18% 5 year 1.04% 10 year 0.55% Expense Ratios (Standard) 0.11% Expense Ratios (Select) 0.11% Current NAV (Standard) $10.41 Current NAV (Select) $10.66 |
Returns ChartSearch for Historical NAV
No Data Pool Description 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. Risk/granting time horizon
Goal Seeks to provide income while maintaining liquidity and a stable share price. Invests primarily in U.S. government agency obligations. Benchmark U.S. Government Money Market Funds Average Management For more about investment management styles, see our FAQs.Active | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Wellington | Wellington | 5.15% | 22.49% | - | - | 0.25% | 0.17% | $9.55 | $9.59 | WellingtonReturns Qtr 5.15% 1 year 22.49% 5 year - 10 year - Expense Ratios (Standard) 0.25% Expense Ratios (Select) 0.17% Current NAV (Standard) $9.55 Current NAV (Select) $9.59 |
Returns ChartSearch for Historical NAV
No Data Pool Description 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. Risk/granting time horizon
Goal Seeks long-term capital appreciation and reasonable current income, with moderate risk. Benchmark Wellington Composite Index Management For more about investment management styles, see our FAQs.Active | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
European Stock | European Stock | 9.74% | 24.25% | 5.58% | - | 0.10% | 0.08% | $12.36 | $11.58 | European StockReturns Qtr 9.74% 1 year 24.25% 5 year 5.58% 10 year - Expense Ratios (Standard) 0.10% Expense Ratios (Select) 0.08% Current NAV (Standard) $12.36 Current NAV (Select) $11.58 |
Returns ChartSearch for Historical NAV
No Data Pool Description 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. Risk/granting time horizon
Goal Targets European common stocks and is diversified across developed markets. Benchmark Spliced European Stock Index Management For more about investment management styles, see our FAQs.Passive | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Pacific Stock | Pacific Stock | 7.23% | 17.59% | 7.03% | - | 0.10% | 0.08% | $12.68 | $12.44 | Pacific StockReturns Qtr 7.23% 1 year 17.59% 5 year 7.03% 10 year - Expense Ratios (Standard) 0.10% Expense Ratios (Select) 0.08% Current NAV (Standard) $12.68 Current NAV (Select) $12.44 |
Returns ChartSearch for Historical NAV
No Data Pool Description 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. Risk/granting time horizon
Goal Targets Pacific-region common stocks. Benchmark Spliced Pacific Stock Index Management For more about investment management styles, see our FAQs.Passive | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Emerging Markets | Emerging Markets | 11.30% | 20.36% | 5.02% | - | 0.14% | 0.10% | $9.84 | $9.89 | Emerging MarketsReturns Qtr 11.30% 1 year 20.36% 5 year 5.02% 10 year - Expense Ratios (Standard) 0.14% Expense Ratios (Select) 0.10% Current NAV (Standard) $9.84 Current NAV (Select) $9.89 |
Returns ChartSearch for Historical NAV
No Data Pool Description 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. Risk/granting time horizon
Goal Targets emerging markets common stocks. Benchmark Spliced Emerging Markets Index Management For more about investment management styles, see our FAQs.Passive | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
ESG U.S. Stock | ESG U.S. Stock | 9.43% | 33.37% | - | - | 0.12% | 0.12% | $8.95 | $8.99 | ESG U.S. StockReturns Qtr 9.43% 1 year 33.37% 5 year - 10 year - Expense Ratios (Standard) 0.12% Expense Ratios (Select) 0.12% Current NAV (Standard) $8.95 Current NAV (Select) $8.99 |
Returns ChartSearch for Historical NAV
No Data Pool Description ESG U.S. Stock allows donors to align charitable investments with personal values. Companies are screened for certain ESG criteria, and the fund specifically excludes stocks of companies in industries, such as alcohol, tobacco, weapons, adult entertainment, gambling and nuclear power, as well as companies that own fossil fuels reserves. The index fund also excludes stocks of companies that do not meet standards of U.N. global compact principles and companies that do not meet appropriate diversity criteria. Donors looking to grow their portfolios over time with equity investments may wish to utilize this option solely or as part of a diversified portfolio to achieve a range of giving goals. Risk/granting time horizon
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. Benchmark FTSE U.S. All Cap Choice Index Management For more about investment management styles, see our FAQs.Passive | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
ESG International Stock | ESG International Stock | 9.23% | 23.01% | - | - | 0.17% | 0.17% | $8.35 | $8.24 | ESG International StockReturns Qtr 9.23% 1 year 23.01% 5 year - 10 year - Expense Ratios (Standard) 0.17% Expense Ratios (Select) 0.17% Current NAV (Standard) $8.35 Current NAV (Select) $8.24 |
Returns ChartSearch for Historical NAV
No Data Pool Description ESG International Stock allows donors to align charitable investments with personal values. Companies are screened for certain ESG criteria, and the fund specifically excludes stocks of companies in industries, such as alcohol, tobacco, weapons, adult entertainment, gambling and nuclear power, as well as companies that own fossil fuels reserves. The index fund also excludes stocks of companies that do not meet standards of U.N. global compact principles and companies that do not meet appropriate diversity criteria. Donors looking to grow their portfolios over time with equity investments may wish to utilize this option solely or as part of a diversified portfolio to achieve a range of giving goals. Risk/granting time horizon
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. Benchmark FTSE Global All Cap ex U.S. Choice Index Management For more about investment management styles, see our FAQs.Passive | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
ESG Global Stock | ESG Global Stock | 9.39% | 30.35% | - | - | 0.14% | 0.14% | $8.76 | $8.77 | ESG Global StockReturns Qtr 9.39% 1 year 30.35% 5 year - 10 year - Expense Ratios (Standard) 0.14% Expense Ratios (Select) 0.14% Current NAV (Standard) $8.76 Current NAV (Select) $8.77 |
Returns ChartSearch for Historical NAV
No Data Pool Description 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. Risk/granting time horizon
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. Benchmark 70% FTSE U.S. All Cap Choice Index 30% FTSE Global All Cap ex U.S. Choice Index Management For more about investment management styles, see our FAQs.Passive | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Short-Term Bond | Short-Term Bond | 0.62% | 5.83% | 2.56% | 2.74% | 0.10% | 0.07% | $12.75 | $12.91 | Short-Term BondReturns Qtr 0.62% 1 year 5.83% 5 year 2.56% 10 year 2.74% Expense Ratios (Standard) 0.10% Expense Ratios (Select) 0.07% Current NAV (Standard) $12.75 Current NAV (Select) $12.91 |
Returns ChartSearch for Historical NAV
No Data Pool Description 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. Risk/granting time horizon
Goal Seeks current income with limited price volatility and provides exposure to short-term, investment-grade fixed income securities. Benchmark Bloomberg Barclays U.S. 1-5 Year Credit Index Management For more about investment management styles, see our FAQs.Passive |
U.S. bond market
- The overall U.S. market for taxable investment-grade bonds, as measured by the Bloomberg Barclays U.S. Aggregate Bond Index, returned 0.18% for the quarter.
- Investment-grade corporate bonds, as measured by the Bloomberg Barclays U.S. Corporate Bond Index, returned 1.18%. U.S. Treasuries returned –0.79% as investors began taking on more risk.
- The yield of the benchmark 10-year U.S. Treasury note closed December at 1.92%, down from 2.68% a year earlier.
U.S. stock market
- U.S. stocks surged, returning 9.07% for the fourth quarter, as measured by the Standard & Poor’s 500 Index. The large gain lifted the market’s return for the 12 months ended December 31 to 31.49%, the index’s best annual performance since 2013. All industry sectors finished the quarter in positive territory, with information technology and health care producing the most robust results.
- Large-capitalization stocks outperformed their mid- and small-cap peers for the quarter, and growth stocks outpaced value.
Money Market
- Money market yields held steady over the quarter. The average weighted maturity of the Vanguard Federal Money Market Fund on December 31 was 56 days. The fund maintained its high-quality portfolio and continued to benefit from broad diversification and low fees.
International stock market
- The FTSE Global All Cap ex US Index, which tracks non-U.S. stocks, returned 9.26% for the quarter and 21.80% for the 12 months. The strong results were due to improving global economic data and progress in trade negotiations.
- Stocks in developed markets outside the United States trailed their emerging-market counterparts for the quarter. Within developed markets, European stocks outpaced those in the Pacific region.
