VANGUARD TRUSTEES EQUITY FUND
NSAR-B, 1998-02-24
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<PAGE>      PAGE  1
000 B000000 12/31/97
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SIGNATURE   GARY P. SOURA                                
TITLE       MANAGER             
 


<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000313850
<NAME> VANGUARD/TRUSTEES' EQUITY FUND
<SERIES>
   <NUMBER> 001
   <NAME> VANGUARD/TRUSTEES' EQUITY FUND-U.S.PORTFOLIO
<MULTIPLIER> 1,000
<CURRENCY> US
       
<S>                             <C>
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<PERIOD-START>                             JAN-01-1997
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000313850
<NAME> VANGUARD/TRUSTEES' EQUITY FUND
<SERIES>
   <NUMBER> 002
   <NAME> VANGUARD INTERNATIONAL VALUE PORTFOLIO
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<S>                             <C>
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</TABLE>


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