Vanguard Institutional 500 Index Trust - Voya …

1 Release Date: 03-31-2018 Vanguard Institutional 500 Index Trust ..BenchmarkS&P 500 TR USDI nvestment Objective & StrategyThe investment seeks to track the performance of a benchmark Index that measures the investment return of large-capitalization stocks. The fund employs an indexing investment approach designed to track the performance of the Standard & Poor's 500 Index , a widely recognized benchmark of stock market performance that is dominated by the stocks of large companies. The advisor attempts to replicate the target Index by investing all, or substantially all, of its assets in the stocks that make up the Index , holding each stock in approximately the same proportion as its weighting in the and ManagementFund Inception Date12-30-16 Expense Manager(s)Donald M.

2 Butler, CFAM ichelle Louie, CFAName of IssuerVanguardManagement CompanyVanguard Group IncBenchmark Description: S&P 500 TR USDThe Index measures the performance of 500 widely held stocksin US equity market. Standard and Poor's chooses membercompanies for the Index based on market size, liquidity andindustry group representation. Included are the stocks ofindustrial, financial, utility, and transportation companies. Sincemid 1989, this composition has been more flexible and thenumber of issues in each sector has varied.

3 It is Description: Large BlendLarge-blend portfolios are fairly representative of the overall USstock market in size, growth rates and price. Stocks in the top70% of the capitalization of the US equity market are definedas large cap. The blend style is assigned to portfolios whereneither growth nor value characteristics predominate. Theseportfolios tend to invest across the spectrum of US industries,and owing to their broad exposure, the portfolios' returns areoften similar to those of the S&P 500 AnalysisLowModerateHighInvestmentCategor yIn the past, this investment has shown a relatively moderaterange of price fluctuations relative to other investments.

4 Thisinvestment may experience larger or smaller price declines orprice increases depending on market conditions. Some of thisrisk may be offset by owning other investments with differentportfolio makeups or investment Year3 Year5 Year10 YearSince InceptionFund Return % Return % Average % # of Funds in Category1,5011,4011,2041, Year Total Returns201820172016201520142013201220112 0102009 Total Return % Return % Average % # of Funds in Category15011396140916061568155916861786 20102027 Performance Disclosure: The performance data quoted represents past performance and does not guarantee futureresults.

5 The investment return and principal value of an investment will fluctuate; thus an investor s shares, whenredeemed, may be worth more or less than their original cost. Current Month performance may be higher or lowerthan return data quoted herein. For more current information including month-end performance, please or call the Oxy Retirement Service Center at 1-844-OXY-401K (1-844-699-4015). Please refer to theperformance section of the disclosure page for more Analysis as of 03-31-18 Composition as of 03-31-18% Equity Style Box as of 03-31-18% Mkt CapLargeMidSmallValue Blend 10 Holdings as of 03-31-18% AssetsApple Inc Chase & Hathaway Inc & Mobil Inc Inc Number of Stock Holdings507 Total Number of Bond Holdings0 Annual Turnover Ratio % Fund Assets ($mil)

6 Equity Sectors as of 03-31-18% FundS&P 500 %h Basic Consumer Financial Real Communication Consumer Risks as of 03-31-18 Loss of Money, Not FDIC Insured, Market/Market Volatility, Equity Securities, Management 2018 Morningstar, Inc., Morningstar Investment Profiles 312-696-6000. All rights reserved. The information contained herein: (1) is proprietary to Morningstarand/or its content providers; (2) may not be copied or distributed and (3) is not warranted to be accurate, complete or timely.

7 Neither Morningstar nor its contentproviders are responsible for any damages or losses arising from any use of information. Past performance is no guarantee of future performance. Visit our investmentwebsite at When used as supplemental sales literature, the InvestmentProfile must be preceded or accompanied by the fund s currentprospectus as well as this disclosure statement. Theperformance data given represents past performance andshould not be considered indicative of future results. Principalvalue and investment return will fluctuate, so that an investor sshares when redeemed may be worth more or less than theoriginal investment.

8 Fund portfolio statistics change over fund is not FDIC-insured, may lose value and is notguaranteed by a bank or other financial institution. PerformanceTotal return reflects performance without adjusting for salescharges or the effects of taxation, but is adjusted to reflect allactual ongoing fund expenses and assumes reinvestment ofdividends and capital gains. If adjusted, sales charges wouldreduce the performance quoted. Standardized Total Return is total return adjusted for salescharges. The sales charge adjusted for may not necessarily beconsistent with the prospectus.

9 The fund s performance is compared with that of an Index is an unmanaged portfolio of specified securities andthe Index does not reflect any initial or ongoing expenses. Afund s portfolio may differ significantly from the securities in theindex. Expense RatioThis is the percentage of fund assets paid for operatingexpenses and management fees. The expense ratio typicallyincludes the following types of fees: accounting, administrator,advisor, auditor, board of directors, custodial, distribution(12b-1), legal, organizational, professional, registration,shareholder reporting, sub-advisor, and transfer agency.

10 Theexpense ratio does not reflect the fund s brokerage costs or anyinvestor sales charges. In contrast to the net expense ratio, thegross expense ratio does not reflect any fee waivers in effectduring the time period. Morningstar Style Box The Morningstar Style Box reveals a fund's investment style asof the date noted on this report. For equity funds the vertical axis shows the marketcapitalization of the long stocks owned and the horizontal axisshows investment style (value, blend, or growth). For fixed-income funds, the vertical axis shows the creditquality of the long bonds owned and the horizontal axis showsinterest rate sensitivity as measured by a bond's effectiveduration.