Report : Investment | March 31, 2024

Index Funds Quarterly Review Q1 2024

Stocks rally at the top of 2024

Global equities continued to rally in the first quarter off last year’s momentum. The bond market had a rocky start as the U.S. Federal Reserve shifted away from its more dovish stance in 2023. 

Performance of key Vanguard index funds


Fund name

(Inception date)









1 year



Vanguard Total Bond Market Index Fund


-0.90% -3.08% 6.69%


Vanguard Total International Bond Index Fund


0.18% -1.50% 6.54% 0.10% 5.23%  

Vanguard Total Stock Market Index Fund


8.42% -3.30% 12.17% 10.00% 29.37%  

Vanguard Total International Stock Index Fund


2.61% -4.01% 9.98% 4.32% 13.00%  

Vanguard Short-Term Inflation-Protected Securities Index Fund


-0.69% 0.43% 2.55% 0.85% 3.16%  

Source of performance figures: Vanguard, Institutional share class, as of March 31, 2024.

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.

For more information about Vanguard funds, visit to obtain a prospectus or, if available, a summary prospectus. Investment objectives, risks, charges, expenses, and other important information about a fund are contained in the prospectus; read and consider it carefully before investing.

All investing is subject to risk, including the possible loss of the money you invest.

For institutional use only. Not for distribution to retail investors.