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Detailed performance and expense ratio information is available by clicking the portfolio names below.

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Portfolio price and performance
Name	Unit value as of 09/05/2018			YTD as of Unisex Show Zippered Jacket Fashion Canvas Technical Colorblock 09/05/2018	Average annual total returns as of 08/31/2018					Inception date
Name	Unit value	Change			1 year	3 year	5 year	10 year	Since inception**	Inception date
Name Aggressive Growth Portfolio	Unit value as of 09/05/2018 $35.09	Change ($) -$0.17	Change (%) -0.48%	YTD returns as of 09/05/2018 5.06%	1 year returns as of 08/31/2018 14.85%	3 year average annual returns as of 08/31/2018 13.53%	5 year average annual returns as of 08/31/2018 12.72%	10 year average annual returns as of 08/31/2018 10.11%	Since inception average annual returns as of 08/31/2018** 8.93%	Inception date 11/14/2003
Name Casual Colors Skirt Of Leisure Benetton United winter 1wqSX	Unit value as of 09/05/2018 $24.08	Change ($) -$0.18	Change (%) -0.74%	YTD returns as of 09/05/2018 -4.10%	1 year returns as of 08/31/2018 4.48%	3 year average annual returns as of 08/31/2018 7.94%	5 year average annual returns as of 08/31/2018 6.16%	10 year average annual returns as of 08/31/2018 —	Since inception average annual returns as of 08/31/2018** 9.97%	Inception date 03/26/2009
Name Mid-Cap Stock Index Portfolio	Unit value as of 09/05/2018 $42.23	Change ($) -$0.13	Change (%) -0.31%	YTD returns as of 09/05/2018 7.40%	1 year returns as of 08/31/2018 16.42%	3 year average annual returns as of 08/31/2018 12.44%	5 year average annual returns as of 08/31/2018 12.66%	10 year average annual returns as of 08/31/2018 10.75%	Since inception average annual returns as of 08/31/2018** 10.27%	Inception date 11/20/2003
Zippered Show Fashion Jacket Colorblock Unisex Technical Canvas Name Growth Stock Index Portfolio	Unit value as of 09/05/2018 $39.47	Change ($) -$0.34	Change (%) -0.85%	YTD returns as of 09/05/2018 13.75%	1 year returns as of 08/31/2018 23.31%	3 year average annual returns as of 08/31/2018 17.19%	5 year average annual returns as of 08/31/2018 16.07%	10 year average annual returns as of 08/31/2018 11.86%	Since inception average annual returns as of 08/31/2018** 9.81%	Inception date 11/20/2003
Name Value Stock Index Portfolio	Unit value as of 09/05/2018 $34.73	Change ($) $0.07	Change (%) 0.20%	YTD returns as of 09/05/2018 5.53%	1 year returns as of 08/31/2018 16.24%	3 year average annual returns as of 08/31/2018 14.55%	5 year average annual returns as of 08/31/2018 12.67%	10 year average annual returns as of 08/31/2018 9.64%	Since inception average annual returns as of 08/31/2018** 8.79%	Inception date 11/20/2003
Name Wool winter Blazer J Leisure Crew fvqWt	Unit value as of 09/05/2018 $43.67	Change ($) -$0.15	Change (%) -0.34%	YTD returns as of 09/05/2018 12.06%	1 year returns as of 08/31/2018 23.65%	3 year average annual returns as of 08/31/2018 15.04%	5 year average annual returns as of 08/31/2018 12.96%	10 year average annual returns as of 08/31/2018 11.26%	Since inception average annual returns as of 08/31/2018** 10.53%	Inception date 11/19/2003
Name Aeropostale Boutique winter Pullover Sweater winter Boutique Aeropostale xgwHwT8I	Unit value as of 09/05/2018 $11.03	Change ($) -$0.04	Change (%) -0.36%	YTD returns as of 09/05/2018 4.35%	1 year returns as of 08/31/2018 —	3 year average annual returns as of 08/31/2018 —	5 year average annual returns as of 08/31/2018 —	Colorblock Fashion Technical Zippered Show Canvas Jacket Unisex 10 year average annual returns as of 08/31/2018 —	Since inception average annual returns as of 08/31/2018** 11.20%	Inception date 09/22/2017
Name Growth Portfolio	Unit value as of 09/05/2018 $31.35	Change ($) -$0.12	Change (%) -0.38%	YTD returns as of 09/05/2018 3.60%	1 year returns as of 08/31/2018 10.84%	3 year average annual returns as of 08/31/2018 10.63%	5 year average annual returns as of 08/31/2018 10.22%	10 year average annual returns as of 08/31/2018 9.25%	Since inception average annual returns as of 08/31/2018** 8.09%	Inception date 11/14/2003
Name Blended Growth Portfolio*	Unit value as of 09/05/2018 $10.72	Change ($) -$0.03	Change (%) -0.28%	YTD returns as of 09/05/2018 2.98%	1 year returns as of 08/31/2018 —	3 year average annual returns as of 08/31/2018 —	5 year average annual returns as of 08/31/2018 —	10 year average annual returns as of 08/31/2018 —	Since inception average annual returns as of 08/31/2018** 7.90%	Inception date 09/22/2017
Name Moderate Growth Portfolio	Unit value as of 09/05/2018 $25.52	Change ($) -$0.06	Change (%) -0.23%	YTD returns as of 09/05/2018 2.20%	1 year returns as of 08/31/2018 6.92%	3 year average annual returns as of 08/31/2018 7.74%	5 year average annual returns as of 08/31/2018 7.67%	Jacket Technical Show Unisex Fashion Zippered Canvas Colorblock 10 year average annual returns as of 08/31/2018 7.18%	Since inception average annual returns as of 08/31/2018** 6.58%	Colorblock Unisex Jacket Canvas Show Fashion Technical Zippered Inception date 11/14/2003
Name Disciplined Growth Portfolio*	Unit value as of 09/05/2018 $10.42	Change ($) -$0.02	Change (%) -0.19%	YTD returns as of 09/05/2018 1.56%	1 year returns as of 08/31/2018 —	3 year average annual returns as of 08/31/2018 —	5 year average annual returns as of 08/31/2018 —	10 year average annual returns as of 08/31/2018 —	Since inception average annual returns as of 08/31/2018** 4.60%	Fashion Technical Jacket Canvas Unisex Zippered Colorblock Show Inception date 09/22/2017
Name Conservative Growth Portfolio	Unit value as of 09/05/2018 $20.36	Change ($) -$0.03	Change (%) -0.15%	YTD returns as of 09/05/2018 0.74%	1 year returns as of 08/31/2018 3.18%	3 year average annual returns as of 08/31/2018 4.84%	5 year average annual returns as of 08/31/2018 5.09%	10 year average annual returns as of 08/31/2018 4.98%	Since inception average annual returns as of 08/31/2018** 4.95%	Inception date 11/14/2003
Name Conservative Portfolio*	Unit value as of 09/05/2018 $10.11	Change ($) $0.00	Change (%) 0.00%	YTD returns as of 09/05/2018 0.00%	1 year returns as of 08/31/2018 —	3 year average annual returns as of 08/31/2018 —	5 year average annual returns as of 08/31/2018 —	10 year average annual returns as of 08/31/2018 —	Since inception average annual returns as of 08/31/2018** 1.30%	Inception date 09/22/2017
Name Bond Market Index Portfolio	Unit value as of 09/05/2018 $16.69	Change ($) $0.01	Change (%) 0.06%	YTD returns as of 09/05/2018 -1.24%	1 year returns as of 08/31/2018 -1.30%	3 year average annual returns as of 08/31/2018 1.61%	5 year average annual returns as of 08/31/2018 2.29%	10 year average annual returns as of 08/31/2018 3.45%	Since inception average annual returns as of 08/31/2018** 3.54%	Inception date 11/20/2003
Name Inflation-Protected Securities Portfolio	Unit value as of 09/05/2018 $16.84	Change ($) -$0.01	Change (%) -0.06%	YTD returns as of 09/05/2018 -0.24%	1 year returns as of 08/31/2018 0.42%	3 year average annual returns as of 08/31/2018 2.01%	5 year average annual returns as of 08/31/2018 1.76%	10 year average annual returns as of 08/31/2018 2.70%	Since inception average annual returns as of 08/31/2018** 3.60%	Inception date 11/20/2003
Name Cardigan Elle Boutique Boutique winter Elle Cardigan winter Elle winter Boutique z48qO	Unit value as of 09/05/2018 $15.64	Change ($) $0.00	Change (%) 0.00%	YTD returns as of 09/05/2018 0.13%	1 year returns as of 08/31/2018 0.38%	3 year average annual returns as of 08/31/2018 1.70%	5 year average annual returns as of 08/31/2018 1.85%	10 year average annual returns as of 08/31/2018 2.63%	Since inception average annual returns as of 08/31/2018** 3.07%	Inception date 11/14/2003
Name Balanced Income Portfolio*	Unit value as of 09/05/2018 $10.09	Change ($) $0.00	Change (%) 0.00%	YTD returns as of 09/05/2018 0.50%	1 year returns as of 08/31/2018 —	3 year average annual returns as of 08/31/2018 —	5 year average annual returns as of 08/31/2018 —	10 year average annual returns as of 08/31/2018 —	Since inception average annual returns as of 08/31/2018** 0.90%	Inception date 09/22/2017
Name Conservative Income Portfolio*	Unit value as of 09/05/2018 $10.13	Change ($) $0.00	Unisex Canvas Zippered Technical Jacket Fashion Show Colorblock Change (%) 0.00%	YTD returns as of 09/05/2018 0.90%	1 year returns as of 08/31/2018 —	3 year average annual returns as of 08/31/2018 —	5 year average annual returns as of 08/31/2018 —	10 year average annual returns as of 08/31/2018 —	Since inception average annual returns as of 08/31/2018** 1.30%	Inception date 09/22/2017
Name Interest Accumulation Portfolio	Unit value as of 09/05/2018 $12.57	Change ($) $0.00	Change (%) 0.00%	YTD returns as of 09/05/2018 1.29%	1 year returns as of 08/31/2018 1.86%	3 year average annual returns as of 08/31/2018 1.25%	5 year average annual returns as of 08/31/2018 0.85%	10 year average annual returns as of 08/31/2018 0.86%	Since inception average annual returns as of 08/31/2018** 1.56%	Inception date 11/14/2003

The performance data shown represent past performance, which is not a guarantee of future results. Investment returns and principal value will fluctuate, so that investors' units, when sold, may be worth more or less than their original cost. Current performance may be higher or lower than the performance data cited. For performance data current to the most recent quarter-end click here.

All investing is subject to risk, including the possible loss of the money you invest. Investments in bonds are subject to interest rate, credit, and inflation risk. Investments are not guaranteed or insured.

The Income Portfolio, Balanced Income Portfolio, Conservative Income Portfolio, and Interest Accumulation Portfolio each invest in the Vanguard Short-Term Reserves Account, which, in turn, invests in Vanguard Federal Money Market Fund. The Vanguard Short-Term Reserves Account could lose money by investing in the Vanguard Federal Money Market Fund. Although the Fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so. An investment in the Fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The Fund's sponsor has no legal obligation to provide financial support to the Fund, and you should not expect that the sponsor will provide financial support to the Fund at any time.

* Not available as an Individual Portfolio.

** Since Inception returns for less than one year are not annualized.

For more information about New York's 529 College Savings Program Direct Plan, download a Disclosure Booklet and Tuition Savings Agreement or request one by calling 877-NYSAVES (877-697-2837). This document includes investment objectives, risks, charges, expenses, and other information. You should read and consider them carefully before investing.

Before you invest, consider whether your or the beneficiary's home state offers any state tax or other benefits that are only available for investments in that state's 529 plan. Other state benefits may include financial aid, scholarship funds, and protection from creditors.

The Comptroller of the State of New York and the New York State Higher Education Services Corporation are the Program Administrators and are responsible for implementing and administering the Direct Plan.

Ascensus Broker Dealer Services, Inc., serves as Program Manager and, in connection with its affiliates, provides recordkeeping and administrative support services and is responsible for day-to-day operations of the Direct Plan. The Vanguard Group, Inc., serves as the Investment Manager. Vanguard Marketing Corporation markets, distributes, and underwrites the Direct Plan.

No guarantee: None of the State of New York, its agencies, the Federal Deposit Insurance Corporation (FDIC), The Vanguard Group, Inc., Ascensus Broker Dealer Services, Inc., nor any of their applicable affiliates insures accounts or guarantees the principal deposited therein or any investment returns on any account or investment portfolio.

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