Vanguard Extended Market ETF
Institutional Structure & Tax Specification
Statutory fund vehicle structure, benchmark mechanics, regulatory identifiers & taxation specifications
Open-Ended Fund (1940 Act)
Physical (Full Replication)
Passive
2011-01-26
S&P Completion Index
Market Capitalization
Benchmark Index Rules & Statutory Prospectus Constraints
Quarterly / Periodic
Distributes (Cash Pass-Through)
Qualified Dividends (1099-DIV Box 1b)
39.60%
20.00%
Capital Gains & Pass-Through Dividends
USVXF0000010 · CEOJMS
The Vanguard Group, Inc.
Vanguard Marketing Corporation
Operational Governance & Primary Market Mechanics (S48-Phase 2)
Statutory Form 497K & N-CEN statutory disclosures: creation/redemption mechanics, securities lending & tax forms
Standard 1099-DIV qualified pass-through; no complex partnership tax filing
Portfolio collateral not rehypothecated to short sellers
100% direct physical equity replication; zero swap counterparty risk
Statutory Form N-PORT transparent reporting schedule
Standard block size for authorized participant (AP) primary creation
Active primary market arbitrage throughput
Massive AUM scale and daily dollar liquidity protect against liquidation
Fit vs. S&P Completion Index
Ease of AP primary market arbitrage and basket creation
Annual NAV tracking variance vs benchmark index
SEC EDGAR & Regulatory Structure
Statutory filings and fund prospectuses