VSP Vanguard S&P 500 Index ETF CAD Hedged

Vanguard Investments Canada Inc. today announced the final December 2014 cash distributions for certain Vanguard ETFs listed below that trade on Toronto Stock Exchange (TSX). Unitholders of record on December 30, 2014 will receive cash distributions payable on January 5, 2015. Details of the “per unit” distribution amounts are as follows:

                    Vanguard ETF™     TSXTickerSymbol     Distributionper Unit ($)     PaymentFrequency Vanguard FTSE Canada Index ETF     VCE     0.189352     Quarterly Vanguard FTSE Canada All Cap Index ETF     VCN     0.153650     Quarterly Vanguard FTSE Canadian High Dividend Yield Index ETF     VDY     0.085627     Monthly Vanguard FTSE Canadian Capped REIT Index ETF     VRE     0.096104     Monthly Vanguard Canadian Aggregate Bond Index ETF     VAB     0.048825     Monthly Vanguard Canadian Short-Term Bond Index ETF     VSB     0.042103     Monthly Vanguard Canadian Short-Term Corporate Bond Index ETF     VSC     0.053910     Monthly Vanguard S&P 500 Index ETF     VFV     0.188956     Quarterly Vanguard S&P 500 Index ETF (CAD-hedged)     VSP     0.165577     Quarterly Vanguard U.S. Total Market Index ETF     VUN     0.128889     Quarterly Vanguard U.S. Total Market Index ETF (CAD-hedged)     VUS     0.160754     Quarterly Vanguard U.S. Dividend Appreciation Index ETF     VGG     0.136015     Quarterly Vanguard U.S. Dividend Appreciation Index ETF (CAD-hedged)     VGH     0.122627     Quarterly Vanguard FTSE All-World ex Canada Index ETF     VXC     0.114274     Quarterly Vanguard FTSE Developed ex North America Index ETF     VDU     0.128307     Quarterly Vanguard FTSE Developed ex North America Index ETF (CAD-hedged)     VEF     0.152290     Quarterly Vanguard FTSE Developed Europe Index ETF     VE     0.091119     Quarterly Vanguard FTSE Developed Asia Pacific Index ETF     VA     0.211960     Quarterly Vanguard FTSE Emerging Markets Index ETF     VEE     0.091718     Quarterly Vanguard U.S. Aggregate Bond Index ETF (CAD-hedged)     VBU     0.069371     Monthly Vanguard Global ex-U.S. Aggregate Bond Index ETF (CAD-hedged)     VBG     0.029424     Monthly            

To learn more about the TSX-listed Vanguard ETFs™, please visit www.vanguardcanada.ca

About Vanguard

Vanguard Investments Canada Inc. is a wholly owned indirect subsidiary of The Vanguard Group, Inc. and manages $3.5 billion (CAD) in assets. The Vanguard Group, Inc. is one of the world's largest investment management companies and a leading provider of company-sponsored retirement plan services. Vanguard manages more than $3 trillion (USD) in global assets, including more than $442 billion (USD) in global ETF assets. Vanguard has offices in the United States, Canada, Europe, Australia, and Asia. The firm offers nearly 160 funds to U.S. investors and an additional 125 funds, including ETFs, to clients in the other markets in which the firm operates.

What sets Vanguard apart – and lets Vanguard put investors first around the world – is the ownership structure of The Vanguard Group, Inc., in the United States. Rather than being publicly traded or owned by a small group of individuals, The Vanguard Group, Inc. is owned by Vanguard’s U.S.-domiciled funds and ETFs. Those funds, in turn, are owned by their investors. This unique mutual structure aligns Vanguard interests with those of its investors and drives the culture, philosophy, and policies throughout the Vanguard organization worldwide. As a result, Canadian investors benefit from Vanguard's stability and experience, low-cost investing, and client focus. For more information, please visit vanguardcanada.ca.

All asset figures are as of November 30, 2014, unless otherwise stated.

Commissions, management fees, and expenses all may be associated with the Vanguard ETFs. This offering is only made by prospectus. The prospectus contains important detailed information about the securities being offered. Copies are available from Vanguard Investments Canada Inc. at www.vanguardcanada.ca. Please read the prospectus before investing. ETFs are not guaranteed, their values change frequently, and past performance may not be repeated.

“FTSE®” is a trademark of London Stock Exchange Group companies and is used by FTSE International Limited (“FTSE”) under licence. The Vanguard FTSE Canadian High Dividend Yield Index ETF and Vanguard FTSE Canadian Capped REIT Index ETF (the “Products”) have been developed solely by Vanguard. FTSE and its licensors are not connected to and do not sponsor, advise, recommend, endorse or promote the Products and do not accept any liability whatsoever to any person arising out of an investment in or operation of the Products. FTSE makes no claim, prediction, warranty or representation either as to the results to be obtained from the Products.

For more information, contact Vanguard Public Relations at 610-669-5002