Report : Investment | October 31, 2023

Index Funds Quarterly Review Q3 2023

Capital markets stall in third quarter

After a positive start to 2023, the markets stalled during the third quarter as both equities and fixed income experienced negative returns. Despite finishing with a positive return year to date, global stocks experienced their first negative quarter of the year. 

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Performance of key Vanguard index funds


Fund name

(Inception date)












Vanguard Total Bond Market Index Fund


1.67% 3.16% -0.90% -3.08% 0.74%  

Vanguard Total International Bond Index Fund


-0.02% 3.54% 0.18% -1.50% 2.16%  

Vanguard Total Stock Market Index Fund


7.16% 7.15% 8.42% -3.30% 20.38%  

Vanguard Total International Stock Index Fund


14.72% 6.65% 2.61% -4.01% 20.50%  

Vanguard Short-Term Inflation-Protected Securities Index Fund


1.27% 2.28% -0.69% 0.43% 3.31%  

Source of performance figures: Vanguard, Institutional share class, as of September 30, 2023.

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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