Semi-annual reports just one page

[Duckie]

Today I got an email from Vanguard concerning new prospectuses and semi-annual reports for two funds I own. When I went to Vanguard (I never click on links) and down-loaded the PDFs, both semi-annual reports were only one page instead of the normal ~35 page reports. Anyone else have this issue or is it just me?

[billfromct]

You how Vanguard is always trying to cut costs, maybe they’re trying to save paper.

bill

[SanityCheck]

I saw the same one page type reports.......I'm not sure what is going on ??

[Geologist]

Perhaps you didn't read the notice that appeared in Vanguard's annual and semi-annual reports in the first half of the year. This one is from the Intermediate Tax-Exempt Fund:

"Beginning in July 2024, amendments adopted by the Securities and Exchange Commission will substantially impact the design, content, and transmission of shareholder reports. Shareholder reports will provide key fund information in a clear and concise format and must be mailed to each shareholder that has not elected to receive the reports electronically. Financial statements will no longer be included in the shareholder report but will be available at vanguard.com, can be mailed upon request, or can be accessed on the SEC’s website at www.sec.gov."

This is a result of SEC regulations finalized in January 2023.

Edit: Googling gives this, fairly lengthy, description of the new rules--
https://www.toppanmerrill.com/blog/tail ... g%20format.

[Duckie]

Perhaps you didn't read the notice that appeared in Vanguard's annual and semi-annual reports in the first half of the year.

I missed that.

"Financial statements will no longer be included in the shareholder report but will be available at vanguard.com, can be mailed upon request, or can be accessed on the SEC’s website at www.sec.gov."

I couldn't find any financial statements for my funds on Vanguard and could find nothing about Vanguard financial statements on the SEC site. On the abbreviated semi-annual report there is a link for more information but that just takes you back to the original Fund Literature webpage. If there is a trick to this please let me know.

[Geologist]

Perhaps you didn't read the notice that appeared in Vanguard's annual and semi-annual reports in the first half of the year.

I missed that.

"Financial statements will no longer be included in the shareholder report but will be available at vanguard.com, can be mailed upon request, or can be accessed on the SEC’s website at www.sec.gov."

I couldn't find any financial statements for my funds on Vanguard and could find nothing about Vanguard financial statements on the SEC site. On the abbreviated semi-annual report there is a link for more information but that just takes you back to the original Fund Literature webpage. If there is a trick to this please let me know.

On the new semi-annual report is this URL: https://personal1.vanguard.com/ngf-next ... literature

At this page, there is a long list of funds with links to the annual and semi-annual reports that we can already get from the main webpage. However, there is a link to a quarterly reports that has the financial reports that we’re used to seeing in semi-annual and annual reports (whether one or both have these seems to depend on the timing of the 1st and 3rd quarter).

That’s all I can give you at the moment.


Addendum: While this results from new SEC regulations, it wouldn’t surprise me at all if investment companies (including but certainly not limited to Vanguard) were lobbying for the change.

[Duckie]

However, there is a link to a quarterly reports that has the financial reports that we’re used to seeing in semi-annual and annual reports (whether one or both have these seems to depend on the timing of the 1st and 3rd quarter).

That's the link to the Schedule of Investments I was looking for. I should have checked them myself. Thank you.

[Robert20]

Today I got an email from Vanguard concerning new prospectuses and semi-annual reports for two funds I own. When I went to Vanguard (I never click on links) and down-loaded the PDFs, both semi-annual reports were only one page instead of the normal ~35 page reports. Anyone else have this issue or is it just me?

I noticed $2 cost instead of $3 (per 10K). 0.03% of 10K is $2 now?

ETF Shares $2 0.03%

[Geologist]

Today I got an email from Vanguard concerning new prospectuses and semi-annual reports for two funds I own. When I went to Vanguard (I never click on links) and down-loaded the PDFs, both semi-annual reports were only one page instead of the normal ~35 page reports. Anyone else have this issue or is it just me?

I noticed $2 cost instead of $3 (per 10K). 0.03% of 10K is $2 now?

ETF Shares $2 0.03%

First, the expense ratio (the percentage) is annualized, but the dollar cost is for six months. Second, there is a round-off to the nearest dollar for the dollar cost.

[dkturner]

[Merged into the existing thread on same topic - Mod Misenplace]
I just went to the Vanguard website and clicked on the reports page for the Developed Markets Index Fund. The June 30, 2024 semi- annual report is ONE PAGE long. Did Vanguard change their report “format” or have I stumbled into an alternate universe?

[BogleTaxPro]

I just went to the Vanguard website and clicked on the reports page for the Developed Markets Index Fund. The June 30, 2024 semi- annual report is ONE PAGE long. Did Vanguard change their report “format” or have I stumbled into an alternate universe?

See discussion viewtopic.php?t=438082

[Hacksawdave]

On the new semi-annual report is this URL: https://personal1.vanguard.com/ngf-next ... literature

At this page, there is a long list of funds with links to the annual and semi-annual reports that we can already get from the main webpage. However, there is a link to a quarterly reports that has the financial reports that we’re used to seeing in semi-annual and annual reports (whether one or both have these seems to depend on the timing of the 1st and 3rd quarter).

That’s all I can give you at the moment.


Addendum: While this results from new SEC regulations, it wouldn’t surprise me at all if investment companies (including but certainly not limited to Vanguard) were lobbying for the change.

Thanks! I found the three statements that I read: Assets and Liabilities, Operations, and Changes in Net Assets.

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