Report : Investment | January 27, 2023

Index Funds Quarterly Review Q4 2022

Year-end market data continued to point to a slowdown in global economic conditions

Despite market volatility, however, global equity performance in the final quarter gave investors some comfort. Most domestic and international equity sectors had positive returns in the last three months of the year given indications of slowing inflation. Value stocks outperformed growth stocks for both the quarter and the year in response to rising interest rates.

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Performance of key Vanguard index funds


Fund name

(Inception date)












Vanguard Total Bond Market Index Fund


-5.98% -4.71% -4.64% -1.67% -13.15%  

Vanguard Total International Bond Index Fund


-4.98% -5.19% -3.28% -0.02% -12.98%  

Vanguard Total Stock Market Index Fund


-5.46% -16.84% -4.46% 7.16% -19.51%  

Vanguard Total International Stock Index Fund


-6.07% -12.85% -10.52% 14.72% -15.98%  

Vanguard Short-Term Inflation-Protected Securities Index Fund


-0.29% -1.13% -2.64% 1.27% -2.80%  

Source of performance figures: Vanguard, Institutional share class, as of December 31, 2022.

The performance data shown represent past performance, which is not a guarantee of future results. Investment returns and principal value will fluctuate, so investors' shares, when sold, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data cited. For performance data current to the most recent month-end, visit our website at Standard performance of the funds can be located in the Quarterly Review Appendix.

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