Report of
Independent
Registered Public
Accounting Firm
To the Board of Trustees of Vanguard
Trustees' Equity Fund and Shareholders of
Vanguard International Value Fund
Vanguard Alternative Strategies Fund
Vanguard Commodity Strategy Fund and
Vanguard Emerging Markets Select Stock
Fund
In planning and performing our audits of the
financial statements of Vanguard International
Value Fund, Vanguard  Alternative Strategies
Fund, Vanguard Commodity Strategy Fund,
and Vanguard Emerging Markets Select Stock
Fund (four of the funds constituting Vanguard
Trustees' Equity Fund, hereafter referred to as
the "Funds") as of  and for the year ended
October 31, 2022, in accordance with the
standards of the Public Company Accounting
Oversight Board (United States) (PCAOB), we
considered the Funds' internal control over
financial reporting,  including controls over
safeguarding securities, as a basis for
designing our auditing procedures for the
purpose of  expressing our opinion on the
financial statements and to comply with the
requirements of Form N-CEN, but not  for the
purpose of expressing an opinion on the
effectiveness of the Funds' internal control
over financial  reporting. Accordingly, we do
not express an opinion on the effectiveness of
the Funds' internal control over  financial
reporting.
The management of the Funds is responsible
for establishing and maintaining effective
internal control over  financial reporting. In
fulfilling this responsibility, estimates and
judgments by management are required to
assess  the expected benefits and related
costs of controls. A company's internal control
over financial reporting is a  process designed
to provide reasonable assurance regarding the
reliability of financial reporting and the
preparation of financial statements for external
purposes in accordance with generally
accepted accounting  principles. A company's
internal control over financial reporting
includes those policies and procedures that (1)
pertain to the maintenance of records that, in
reasonable detail, accurately and fairly reflect
the transactions and  dispositions of the
assets of the company; (2) provide reasonable
assurance that transactions are recorded as
necessary to permit preparation of financial
statements in accordance with generally
accepted accounting  principles, and that
receipts and expenditures of the company are
being made only in accordance with
authorizations of management and directors of
the company; and (3) provide reasonable
assurance regarding  prevention or timely
detection of unauthorized acquisition, use or
disposition of a company's assets that could
have a material effect on the financial
statements.
Because of its inherent limitations, internal
control over financial reporting may not
prevent or detect  misstatements. Also,
projections of any evaluation of
effectiveness to future periods are subject
to the risk that  controls may become
inadequate because of changes in
conditions, or that the degree of
compliance with the  policies or procedures
may deteriorate.
A deficiency in internal control over financial
reporting exists when the design or operation
of a control does not  allow management or
employees, in the normal course of performing
their assigned functions, to prevent or detect
misstatements on a timely basis. A material
weakness is a deficiency, or a combination of
deficiencies, in internal  control over financial
reporting, such that there is a reasonable
possibility that a material misstatement of the
company's annual or interim financial
statements will not be prevented or detected
on a timely basis.
Our consideration of the Funds' internal
control over financial reporting was for the
limited purpose described in  the first
paragraph and would not necessarily
disclose all deficiencies in internal control
over financial reporting that might be
material weaknesses under standards
established by the PCAOB. However, we
noted no  deficiencies in the Funds' internal
control over financial reporting and its
operation, including controls over
safeguarding securities, that we consider to
be a material weakness as defined above
as of October 31, 2022.
This report is intended solely for the
information and use of the Board of
Trustees of Vanguard Trustees' Equity
Fund and the Securities and Exchange
Commission and is not intended to be and
should not be used by anyone  other than
these specified parties.
December 16, 2022

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Philadelphia, PA 19103-7042 T: (267) 330 3000,
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