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Investment Performance
Market summary as of March 31, 2020
The outbreak of the novel coronavirus––and the aggressive efforts to contain it––upended economies and financial markets worldwide during the first quarter of 2020. Crude oil prices sank sharply as trade and travel restrictions multiplied and non-essential businesses were shuttered across much of the globe. In response, many central banks cut interest rates and introduced asset-purchase programs, while governments rushed to offer fiscal stimulus to support their economies and credit markets.
Investment Performance
Market summary as of March 31, 2020
The outbreak of the novel coronavirus––and the aggressive efforts to contain it––upended economies and financial markets worldwide during the first quarter of 2020. Crude oil prices sank sharply as trade and travel restrictions multiplied and non-essential businesses were shuttered across much of the globe. In response, many central banks cut interest rates and introduced asset-purchase programs, while governments rushed to offer fiscal stimulus to support their economies and credit markets.
Global stock markets experienced a historically sharp decline that began in February and accelerated into a bear market in March, erasing more than a year’s worth of gains. Global stocks returned below –20% in U.S. dollar terms over the first quarter.
As equity prices began a sharp descent, bond prices generally rose and bond yields fell. That pattern was interrupted for about a week in late March. However, investors’ desire to generate cash created a liquidity crunch in which even high-quality fixed-income securities began to lose value. Fiscal and monetary policy moves appear to have stabilized markets. The broad fixed income markets, as measured by the Bloomberg Barclays Global Aggregate Bond Index hedged in U.S. dollars, returned 1.45% for the quarter ending March 31, 2020. Their U.S. equivalent returned 3.15%.
| 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 | -17.24% | -7.46% | 3.85% | 7.54% | 0.04% | 0.03% | $37.73 | $39.40 | GrowthReturns Qtr -17.24% 1 year -7.46% 5 year 3.85% 10 year 7.54% Expense Ratios (Standard) 0.04% Expense Ratios (Select) 0.03% Current NAV (Standard) $37.73 Current NAV (Select) $39.40 |
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 | -13.90% | -3.72% | 4.59% | 7.46% | 0.15% | 0.11% | $42.50 | $44.71 | Moderate GrowthReturns Qtr -13.90% 1 year -3.72% 5 year 4.59% 10 year 7.46% Expense Ratios (Standard) 0.15% Expense Ratios (Select) 0.11% Current NAV (Standard) $42.50 Current NAV (Select) $44.71 |
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 | -7.37% | 0.87% | 3.92% | - | 0.04% | 0.03% | $16.86 | $17.16 | Conservative GrowthReturns Qtr -7.37% 1 year 0.87% 5 year 3.92% 10 year - Expense Ratios (Standard) 0.04% Expense Ratios (Select) 0.03% Current NAV (Standard) $16.86 Current NAV (Select) $17.16 |
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 | -2.11% | 4.96% | - | - | 0.04% | 0.03% | $11.63 | $11.63 | IncomeReturns Qtr -2.11% 1 year 4.96% 5 year - 10 year - Expense Ratios (Standard) 0.04% Expense Ratios (Select) 0.03% Current NAV (Standard) $11.63 Current NAV (Select) $11.63 |
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 | -12.14% | -5.39% | 2.02% | 4.80% | 1.23% | 1.23% | - | $14.67 | TIFF Multi-Asset PoolReturns Qtr -12.14% 1 year -5.39% 5 year 2.02% 10 year 4.80% Expense Ratios (Standard) 1.23% Expense Ratios (Select) 1.23% Current NAV (Standard) - Current NAV (Select) $14.67 |
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 | -11.61% | -1.77% | - | - | 0.07% | 0.06% | $11.45 | $11.46 | Balanced IndexReturns Qtr -11.61% 1 year -1.77% 5 year - 10 year - Expense Ratios (Standard) 0.07% Expense Ratios (Select) 0.06% Current NAV (Standard) $11.45 Current NAV (Select) $11.46 |
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 | -24.28% | -16.49% | -0.65% | 2.08% | 0.08% | 0.07% | $10.91 | $11.15 | Total International StockReturns Qtr -24.28% 1 year -16.49% 5 year -0.65% 10 year 2.08% Expense Ratios (Standard) 0.08% Expense Ratios (Select) 0.07% Current NAV (Standard) $10.91 Current NAV (Select) $11.15 |
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 | -20.89% | -9.27% | 5.73% | 10.14% | 0.03% | 0.02% | $25.16 | $25.30 | Total U.S. StockReturns Qtr -20.89% 1 year -9.27% 5 year 5.73% 10 year 10.14% Expense Ratios (Standard) 0.03% Expense Ratios (Select) 0.02% Current NAV (Standard) $25.16 Current NAV (Select) $25.30 |
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 | -22.25% | -11.95% | 3.69% | 7.85% | 0.05% | 0.04% | $25.31 | $26.71 | Total EquityReturns Qtr -22.25% 1 year -11.95% 5 year 3.69% 10 year 7.85% Expense Ratios (Standard) 0.05% Expense Ratios (Select) 0.04% Current NAV (Standard) $25.31 Current NAV (Select) $26.71 |
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 | 3.25% | 9.12% | 3.34% | 3.83% | 0.035% | 0.03% | $17.89 | $18.59 | Total BondReturns Qtr 3.25% 1 year 9.12% 5 year 3.34% 10 year 3.83% Expense Ratios (Standard) 0.035% Expense Ratios (Select) 0.03% Current NAV (Standard) $17.89 Current NAV (Select) $18.59 |
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 | 0.15% | 4.81% | - | - | 0.11% | 0.07% | $11.22 | $11.21 | Total International BondReturns Qtr 0.15% 1 year 4.81% 5 year - 10 year - Expense Ratios (Standard) 0.11% Expense Ratios (Select) 0.07% Current NAV (Standard) $11.22 Current NAV (Select) $11.21 |
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 | 0.34% | 1.97% | 1.11% | 0.59% | 0.11% | 0.11% | $10.40 | $10.65 | Money MarketReturns Qtr 0.34% 1 year 1.97% 5 year 1.11% 10 year 0.59% Expense Ratios (Standard) 0.11% Expense Ratios (Select) 0.11% Current NAV (Standard) $10.40 Current NAV (Select) $10.65 |
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 | -13.78% | -2.78% | - | - | 0.25% | 0.17% | $11.06 | $11.11 | WellingtonReturns Qtr -13.78% 1 year -2.78% 5 year - 10 year - Expense Ratios (Standard) 0.25% Expense Ratios (Select) 0.17% Current NAV (Standard) $11.06 Current NAV (Select) $11.11 |
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 | -25.71% | -16.60% | -1.28% | - | 0.10% | 0.08% | $15.37 | $14.38 | European StockReturns Qtr -25.71% 1 year -16.60% 5 year -1.28% 10 year - Expense Ratios (Standard) 0.10% Expense Ratios (Select) 0.08% Current NAV (Standard) $15.37 Current NAV (Select) $14.38 |
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 | -20.87% | -14.18% | 0.56% | - | 0.10% | 0.08% | $15.57 | $15.27 | Pacific StockReturns Qtr -20.87% 1 year -14.18% 5 year 0.56% 10 year - Expense Ratios (Standard) 0.10% Expense Ratios (Select) 0.08% Current NAV (Standard) $15.57 Current NAV (Select) $15.27 |
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 | -24.59% | -18.47% | -1.15% | - | 0.14% | 0.10% | $13.03 | $13.09 | Emerging MarketsReturns Qtr -24.59% 1 year -18.47% 5 year -1.15% 10 year - Expense Ratios (Standard) 0.14% Expense Ratios (Select) 0.10% Current NAV (Standard) $13.03 Current NAV (Select) $13.09 |
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 | -1.55% | 1.96% | 2.04% | 2.38% | 0.10% | 0.07% | $13.36 | $13.53 | Short-Term BondReturns Qtr -1.55% 1 year 1.96% 5 year 2.04% 10 year 2.38% Expense Ratios (Standard) 0.10% Expense Ratios (Select) 0.07% Current NAV (Standard) $13.36 Current NAV (Select) $13.53 |
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 | -18.82% | -5.36% | - | - | 0.12% | 0.12% | $11.83 | $11.88 | ESG U.S. StockReturns Qtr -18.82% 1 year -5.36% 5 year - 10 year - Expense Ratios (Standard) 0.12% Expense Ratios (Select) 0.12% Current NAV (Standard) $11.83 Current NAV (Select) $11.88 |
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 | -22.87% | -13.67% | - | - | 0.17% | 0.17% | $10.59 | $10.45 | ESG International StockReturns Qtr -22.87% 1 year -13.67% 5 year - 10 year - Expense Ratios (Standard) 0.17% Expense Ratios (Select) 0.17% Current NAV (Standard) $10.59 Current NAV (Select) $10.45 |
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 | -20.09% | -7.94% | - | - | 0.14% | 0.14% | $11.44 | $11.45 | ESG Global StockReturns Qtr -20.09% 1 year -7.94% 5 year - 10 year - Expense Ratios (Standard) 0.14% Expense Ratios (Select) 0.14% Current NAV (Standard) $11.44 Current NAV (Select) $11.45 |
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 | -12.14% | -5.39% | 2.02% | 4.80% | 1.23% | 1.23% | - | $14.67 | TIFF Multi-Asset PoolReturns Qtr -12.14% 1 year -5.39% 5 year 2.02% 10 year 4.80% Expense Ratios (Standard) 1.23% Expense Ratios (Select) 1.23% Current NAV (Standard) - Current NAV (Select) $14.67 |
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 | -11.61% | -1.77% | - | - | 0.07% | 0.06% | $11.45 | $11.46 | Balanced IndexReturns Qtr -11.61% 1 year -1.77% 5 year - 10 year - Expense Ratios (Standard) 0.07% Expense Ratios (Select) 0.06% Current NAV (Standard) $11.45 Current NAV (Select) $11.46 |
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 | -24.28% | -16.49% | -0.65% | 2.08% | 0.08% | 0.07% | $10.91 | $11.15 | Total International StockReturns Qtr -24.28% 1 year -16.49% 5 year -0.65% 10 year 2.08% Expense Ratios (Standard) 0.08% Expense Ratios (Select) 0.07% Current NAV (Standard) $10.91 Current NAV (Select) $11.15 |
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 | -20.89% | -9.27% | 5.73% | 10.14% | 0.03% | 0.02% | $25.16 | $25.30 | Total U.S. StockReturns Qtr -20.89% 1 year -9.27% 5 year 5.73% 10 year 10.14% Expense Ratios (Standard) 0.03% Expense Ratios (Select) 0.02% Current NAV (Standard) $25.16 Current NAV (Select) $25.30 |
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 | -22.25% | -11.95% | 3.69% | 7.85% | 0.05% | 0.04% | $25.31 | $26.71 | Total EquityReturns Qtr -22.25% 1 year -11.95% 5 year 3.69% 10 year 7.85% Expense Ratios (Standard) 0.05% Expense Ratios (Select) 0.04% Current NAV (Standard) $25.31 Current NAV (Select) $26.71 |
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 | 3.25% | 9.12% | 3.34% | 3.83% | 0.035% | 0.03% | $17.89 | $18.59 | Total BondReturns Qtr 3.25% 1 year 9.12% 5 year 3.34% 10 year 3.83% Expense Ratios (Standard) 0.035% Expense Ratios (Select) 0.03% Current NAV (Standard) $17.89 Current NAV (Select) $18.59 |
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 | 0.15% | 4.81% | - | - | 0.11% | 0.07% | $11.22 | $11.21 | Total International BondReturns Qtr 0.15% 1 year 4.81% 5 year - 10 year - Expense Ratios (Standard) 0.11% Expense Ratios (Select) 0.07% Current NAV (Standard) $11.22 Current NAV (Select) $11.21 |
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 | -17.24% | -7.46% | 3.85% | 7.54% | 0.04% | 0.03% | $37.73 | $39.40 | GrowthReturns Qtr -17.24% 1 year -7.46% 5 year 3.85% 10 year 7.54% Expense Ratios (Standard) 0.04% Expense Ratios (Select) 0.03% Current NAV (Standard) $37.73 Current NAV (Select) $39.40 |
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 | -13.90% | -3.72% | 4.59% | 7.46% | 0.15% | 0.11% | $42.50 | $44.71 | Moderate GrowthReturns Qtr -13.90% 1 year -3.72% 5 year 4.59% 10 year 7.46% Expense Ratios (Standard) 0.15% Expense Ratios (Select) 0.11% Current NAV (Standard) $42.50 Current NAV (Select) $44.71 |
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 | -7.37% | 0.87% | 3.92% | - | 0.04% | 0.03% | $16.86 | $17.16 | Conservative GrowthReturns Qtr -7.37% 1 year 0.87% 5 year 3.92% 10 year - Expense Ratios (Standard) 0.04% Expense Ratios (Select) 0.03% Current NAV (Standard) $16.86 Current NAV (Select) $17.16 |
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 | -2.11% | 4.96% | - | - | 0.04% | 0.03% | $11.63 | $11.63 | IncomeReturns Qtr -2.11% 1 year 4.96% 5 year - 10 year - Expense Ratios (Standard) 0.04% Expense Ratios (Select) 0.03% Current NAV (Standard) $11.63 Current NAV (Select) $11.63 |
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 | 0.34% | 1.97% | 1.11% | 0.59% | 0.11% | 0.11% | $10.40 | $10.65 | Money MarketReturns Qtr 0.34% 1 year 1.97% 5 year 1.11% 10 year 0.59% Expense Ratios (Standard) 0.11% Expense Ratios (Select) 0.11% Current NAV (Standard) $10.40 Current NAV (Select) $10.65 |
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 | -13.78% | -2.78% | - | - | 0.25% | 0.17% | $11.06 | $11.11 | WellingtonReturns Qtr -13.78% 1 year -2.78% 5 year - 10 year - Expense Ratios (Standard) 0.25% Expense Ratios (Select) 0.17% Current NAV (Standard) $11.06 Current NAV (Select) $11.11 |
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 | -25.71% | -16.60% | -1.28% | - | 0.10% | 0.08% | $15.37 | $14.38 | European StockReturns Qtr -25.71% 1 year -16.60% 5 year -1.28% 10 year - Expense Ratios (Standard) 0.10% Expense Ratios (Select) 0.08% Current NAV (Standard) $15.37 Current NAV (Select) $14.38 |
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 | -20.87% | -14.18% | 0.56% | - | 0.10% | 0.08% | $15.57 | $15.27 | Pacific StockReturns Qtr -20.87% 1 year -14.18% 5 year 0.56% 10 year - Expense Ratios (Standard) 0.10% Expense Ratios (Select) 0.08% Current NAV (Standard) $15.57 Current NAV (Select) $15.27 |
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 | -24.59% | -18.47% | -1.15% | - | 0.14% | 0.10% | $13.03 | $13.09 | Emerging MarketsReturns Qtr -24.59% 1 year -18.47% 5 year -1.15% 10 year - Expense Ratios (Standard) 0.14% Expense Ratios (Select) 0.10% Current NAV (Standard) $13.03 Current NAV (Select) $13.09 |
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 | -18.82% | -5.36% | - | - | 0.12% | 0.12% | $11.83 | $11.88 | ESG U.S. StockReturns Qtr -18.82% 1 year -5.36% 5 year - 10 year - Expense Ratios (Standard) 0.12% Expense Ratios (Select) 0.12% Current NAV (Standard) $11.83 Current NAV (Select) $11.88 |
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 | -22.87% | -13.67% | - | - | 0.17% | 0.17% | $10.59 | $10.45 | ESG International StockReturns Qtr -22.87% 1 year -13.67% 5 year - 10 year - Expense Ratios (Standard) 0.17% Expense Ratios (Select) 0.17% Current NAV (Standard) $10.59 Current NAV (Select) $10.45 |
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 | -20.09% | -7.94% | - | - | 0.14% | 0.14% | $11.44 | $11.45 | ESG Global StockReturns Qtr -20.09% 1 year -7.94% 5 year - 10 year - Expense Ratios (Standard) 0.14% Expense Ratios (Select) 0.14% Current NAV (Standard) $11.44 Current NAV (Select) $11.45 |
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 | -1.55% | 1.96% | 2.04% | 2.38% | 0.10% | 0.07% | $13.36 | $13.53 | Short-Term BondReturns Qtr -1.55% 1 year 1.96% 5 year 2.04% 10 year 2.38% Expense Ratios (Standard) 0.10% Expense Ratios (Select) 0.07% Current NAV (Standard) $13.36 Current NAV (Select) $13.53 |
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 3.15% for the quarter.
- With investors seeking safety, U.S. Treasuries returned 8.20%, while investment-grade corporate bonds returned –3.63%.
- Given the prospect of a global recession and modest inflation, the yield of the bellwether 10-year U.S. Treasury note ended the quarter at a historical low of 0.67%, down from 1.92% three months earlier.
U.S. stock market
- U.S. stocks returned –19.60% for the first quarter, as measured by the Standard & Poor’s 500 Index. All industry sectors finished in negative territory, with energy, financials, and materials dropping the most, and information technology, health care, utilities, and consumer staples holding up the best.
- Large-capitalization stocks declined less than mid- and small-caps for the quarter, and growth stocks fell less than value stocks.
Money Market
- With the Fed cutting rates twice in March, money market yields declined over the quarter. The average weighted maturity of Vanguard Federal Money Market Fund on December 31, 2019, was 53 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 –24.01% for the quarter. By sector, the largest declines were in oil and gas, and financials, while health care, technology, and telecommunications held up the best.
- Developed and emerging markets were impacted nearly equally.
