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Perspectives and commentary

 What we do. How we do it. Why it matters.

In this commentary, we discuss Vanguard's approach to investment stewardship, our role as a provider of both index and actively managed funds, and our definition of sustainable investing.

 Vanguard funds plan to grant proxy voting to external managers

Vanguard has decided to grant proxy voting responsibilities to external portfolio managers for the portions of their funds that they manage.

 Vanguard 2019 Investment Stewardship Semiannual Engagement Update

In this midyear update, Vanguard's Investment Stewardship team shares examples of the dialogues it has had with hundreds of company leaders and directors.

 Vanguard 2018 Investment Stewardship Annual Report

This report outlines our philosophy on corporate governance and describes our advocacy and engagement activities in the U.S. and abroad for the 12-month period ended June 30, 2018. The report also includes insights into our voting record during the last proxy year.

 Vanguard 2018 Investment Stewardship Semiannual Engagement Update

In this midyear update, Vanguard's Investment Stewardship team shares examples of the dialogues it has had with hundreds of company leaders and directors.

 Engaging with Vanguard: A guide for company boards and management teams

During the last proxy season, Vanguard's Investment Stewardship team voted at more than 18,000 company meetings. Here is a quick guide on how to set up an engagement with our team.

 Vanguard Investment Stewardship 2017 Annual Report

This annual report on our investment stewardship activities covers the 12-month period ended June 30, 2017. The report describes our engagements with corporate leaders and our advocacy for governance practices that support the best economic interests of long-term investors.

 Chairman Bill McNabb's 2017 letter to portfolio companies

In his letter to the largest companies in which Vanguard funds invest, Chairman Bill McNabb conveys our perspectives and expectations regarding board composition, risk management and shareholder engagement.