Vanguard U.S. High Dividend Yield Index ETF seeks to track, to the extent reasonably possible and before fees and expenses, the performance of a U.S. equity index that measures the investment return of common stocks of U.S. companies that are characterized by higher than average dividend yields. Currently, Vanguard U.S. High Dividend Yield Index ETF seeks to track the FTSE High Dividend Yield Index (or any successor thereto). It invests directly or indirectly primarily in stocks of U.S. companies.