The Vanguard Pacific ETF (Ticker: VPL) seeks investment results that correspond generally to the performance, before fees and expenses, of the MSCI Pacific Index. The index is composed of approximately 560 common stocks of Pacific Basin companies located in developed markets. The index is dominated by the Japanese stock market, which currently represents over 70 percent of the market capitalization. The other three markets represented are Australia, Hong Kong, and Singapore. The fund uses a full replication methodology and does not hedge currency risk.