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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) |
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Growth |
Growth |
7.17% | 23.93% | 8.36% | 10.15% | 0.04% | 0.03% | $39.14 | $40.86 |
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) $39.14 Current NAV (Select) $40.86 |
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 |
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Moderate Growth |
Moderate Growth |
5.68% | 22.14% | 8.10% | 9.52% | 0.15% | 0.11% | $43.96 | $46.24 |
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) $43.96 Current NAV (Select) $46.24 |
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 |
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Conservative Growth |
Conservative Growth |
3.57% | 16.46% | 5.94% | - | 0.04% | 0.03% | $16.78 | $17.07 |
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) $16.78 Current NAV (Select) $17.07 |
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 |
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Income |
Income |
1.80% | 12.47% | - | - | 0.04% | 0.03% | $11.36 | $11.36 |
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) $11.36 Current NAV (Select) $11.36 |
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) |
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TIFF Multi-Asset Pool |
TIFF Multi-Asset Pool |
6.51% | 18.39% | 5.21% | 6.53% | 1.23% | 1.23% | - | $14.61 |
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) $14.61 |
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 |
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Balanced Index |
Balanced Index |
5.40% | 21.85% | - | - | 0.07% | 0.06% | $11.60 | $11.61 |
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) $11.60 Current NAV (Select) $11.61 |
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 |
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Total International Stock |
Total International Stock |
9.05% | 21.56% | 5.87% | 5.11% | 0.08% | 0.07% | $11.66 | $11.92 |
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) $11.66 Current NAV (Select) $11.92 |
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 |
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Total U.S. Stock |
Total U.S. Stock |
9.01% | 30.83% | 11.20% | 13.42% | 0.03% | 0.02% | $26.65 | $26.80 |
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) $26.65 Current NAV (Select) $26.80 |
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 |
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Total Equity |
Total Equity |
9.04% | 27.96% | 9.59% | 11.18% | 0.05% | 0.04% | $26.89 | $28.37 |
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) $26.89 Current NAV (Select) $28.37 |
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 |
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Total Bond |
Total Bond |
0.09% | 8.77% | 3.01% | 3.67% | 0.035% | 0.03% | $17.19 | $17.86 |
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) $17.19 Current NAV (Select) $17.86 |
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 |
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Total International Bond |
Total International Bond |
-1.29% | 7.78% | - | - | 0.11% | 0.07% | $11.20 | $11.20 |
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) $11.20 Current NAV (Select) $11.20 |
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 |
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Money Market |
Money Market |
0.44% | 2.18% | 1.04% | 0.55% | 0.11% | 0.11% | $10.40 | $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) $10.40 Current NAV (Select) $10.66 |
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