Vanguard Global Ex-U.S. Real Estate ETF (VNQI) has been added to the Hefren-Tillotson Preferred Fund List.

We find overseas equity markets to be a compelling source of value and income, and real estate is no exception. The adjacent chart shows that the Vanguard Global Ex.-U.S. Real Estate ETF offers more yield andsubstantially lower valuations than its U.S. counterpart, the Vanguard REIT ETF (VNQ).

Attractive valuation and income should pave the way for attractive long-termreturns, in our view. Furthermore, recentstimulusmeasures enacted by overseas central banks, similar to the Federal Reserves own bond buying program, could boost the asset class over the intermediate term as overseas investors search for attractive sources of income.

For a more complete discussion of the Vanguard Global Ex.- U.S. Real Estate ETF, including ETF costs and risk factors, please contact your personal Hefren-Tillotson Financial Advisor.