Morningstar Magazine - February/March 2015 - Cover4

You don't just manage portfolios. You manage expectations.
That's a huge responsibility.

Are you Vanguarding® your clients' portfolios?
You wear many hats fulfilling your responsibility to your clients. But the
biggest challenge you face is managing their investment expectations.
We share the belief that long-term, low-cost investing is the right
approach. That's why Vanguard offers you research, low-cost ETFs,
and over 35 years of indexing experience to help make managing your
clients' expectations exactly that. More manageable.
For the support you deserve, visit our Financial Advisors site
at advisors.vanguard.com/BD today.
800 414-4684

All investing is subject to risk, including the possible loss of the money you invest.
Vanguard ETF Shares can be bought and sold only through a broker (who may charge a commission) and cannot be redeemed with the
issuing Fund. The market price of Vanguard ETF Shares may be more or less than net asset value.
For more information about Vanguard ETF Shares, visit advisors.vanguard.comBD, call 800 414-4684, or contact your broker to obtain
a prospectus. Investment objectives, risks, charges, expenses, and other important information are contained in the prospectus; read
and consider it carefully before investing.
© 2015 The Vanguard Group, Inc. All rights reserved. Vanguard Marketing Corporation, Distributor.
U.S. Patent Nos. 6,879,964; 7,337,138; 7,720,749; 7,925,573; 8,090,646; and 8,417,623.
Follow us @Vanguard_FA for important insights, news and education.


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Morningstar Magazine - February/March 2015

Table of Contents for the Digital Edition of Morningstar Magazine - February/March 2015

Contents
Morningstar Magazine - February/March 2015 - Cover1
Morningstar Magazine - February/March 2015 - Cover2
Morningstar Magazine - February/March 2015 - 1
Morningstar Magazine - February/March 2015 - 2
Morningstar Magazine - February/March 2015 - Contents
Morningstar Magazine - February/March 2015 - 4
Morningstar Magazine - February/March 2015 - 5
Morningstar Magazine - February/March 2015 - 6
Morningstar Magazine - February/March 2015 - 7
Morningstar Magazine - February/March 2015 - 8
Morningstar Magazine - February/March 2015 - 9
Morningstar Magazine - February/March 2015 - 10
Morningstar Magazine - February/March 2015 - 11
Morningstar Magazine - February/March 2015 - 12
Morningstar Magazine - February/March 2015 - 13
Morningstar Magazine - February/March 2015 - 14
Morningstar Magazine - February/March 2015 - 15
Morningstar Magazine - February/March 2015 - 16
Morningstar Magazine - February/March 2015 - 17
Morningstar Magazine - February/March 2015 - 18
Morningstar Magazine - February/March 2015 - 19
Morningstar Magazine - February/March 2015 - 20
Morningstar Magazine - February/March 2015 - 21
Morningstar Magazine - February/March 2015 - 22
Morningstar Magazine - February/March 2015 - 23
Morningstar Magazine - February/March 2015 - 24
Morningstar Magazine - February/March 2015 - 25
Morningstar Magazine - February/March 2015 - 26
Morningstar Magazine - February/March 2015 - 27
Morningstar Magazine - February/March 2015 - 28
Morningstar Magazine - February/March 2015 - 29
Morningstar Magazine - February/March 2015 - 30
Morningstar Magazine - February/March 2015 - 31
Morningstar Magazine - February/March 2015 - 32
Morningstar Magazine - February/March 2015 - 33
Morningstar Magazine - February/March 2015 - 34
Morningstar Magazine - February/March 2015 - 35
Morningstar Magazine - February/March 2015 - 36
Morningstar Magazine - February/March 2015 - 37
Morningstar Magazine - February/March 2015 - 38
Morningstar Magazine - February/March 2015 - 39
Morningstar Magazine - February/March 2015 - 40
Morningstar Magazine - February/March 2015 - 41
Morningstar Magazine - February/March 2015 - 42
Morningstar Magazine - February/March 2015 - 43
Morningstar Magazine - February/March 2015 - 44
Morningstar Magazine - February/March 2015 - 45
Morningstar Magazine - February/March 2015 - 46
Morningstar Magazine - February/March 2015 - 47
Morningstar Magazine - February/March 2015 - 48
Morningstar Magazine - February/March 2015 - 49
Morningstar Magazine - February/March 2015 - 50
Morningstar Magazine - February/March 2015 - 51
Morningstar Magazine - February/March 2015 - 52
Morningstar Magazine - February/March 2015 - 53
Morningstar Magazine - February/March 2015 - 54
Morningstar Magazine - February/March 2015 - 55
Morningstar Magazine - February/March 2015 - 56
Morningstar Magazine - February/March 2015 - 57
Morningstar Magazine - February/March 2015 - 58
Morningstar Magazine - February/March 2015 - 59
Morningstar Magazine - February/March 2015 - 60
Morningstar Magazine - February/March 2015 - 61
Morningstar Magazine - February/March 2015 - 62
Morningstar Magazine - February/March 2015 - 63
Morningstar Magazine - February/March 2015 - 64
Morningstar Magazine - February/March 2015 - 65
Morningstar Magazine - February/March 2015 - 66
Morningstar Magazine - February/March 2015 - 67
Morningstar Magazine - February/March 2015 - 68
Morningstar Magazine - February/March 2015 - 69
Morningstar Magazine - February/March 2015 - 70
Morningstar Magazine - February/March 2015 - 71
Morningstar Magazine - February/March 2015 - 72
Morningstar Magazine - February/March 2015 - 73
Morningstar Magazine - February/March 2015 - 74
Morningstar Magazine - February/March 2015 - 75
Morningstar Magazine - February/March 2015 - 76
Morningstar Magazine - February/March 2015 - 77
Morningstar Magazine - February/March 2015 - 78
Morningstar Magazine - February/March 2015 - 79
Morningstar Magazine - February/March 2015 - 80
Morningstar Magazine - February/March 2015 - 81
Morningstar Magazine - February/March 2015 - 82
Morningstar Magazine - February/March 2015 - 83
Morningstar Magazine - February/March 2015 - 84
Morningstar Magazine - February/March 2015 - 85
Morningstar Magazine - February/March 2015 - 86
Morningstar Magazine - February/March 2015 - 87
Morningstar Magazine - February/March 2015 - 88
Morningstar Magazine - February/March 2015 - 89
Morningstar Magazine - February/March 2015 - 90
Morningstar Magazine - February/March 2015 - 91
Morningstar Magazine - February/March 2015 - 92
Morningstar Magazine - February/March 2015 - 93
Morningstar Magazine - February/March 2015 - 94
Morningstar Magazine - February/March 2015 - 95
Morningstar Magazine - February/March 2015 - 96
Morningstar Magazine - February/March 2015 - Cover3
Morningstar Magazine - February/March 2015 - Cover4
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