2023-03-09 11:18:32 ET
Vanguard, the world’s second largest exchange traded fund issuer, announced the unveiling of its latest ETF. The Valley Forge, Pennsylvania-based firm launched the Vanguard Short-Term Tax-Exempt Bond ETF ( VTES ) on Thursday.
The asset manager's most recent fund is intended for tax-sensitive investors that have a short-term outlook and low tolerance to interest rate risk. Moreover, the exchange traded fund aims to offer diversified exposure to investment-grade U.S. municipal bonds.
VTES is a passive fund that seeks to track the performance of the S&P 0-7 Year National AMT-Free Municipal Bond Index. The fund trades on the New York Stock Exchange and comes attached with a 0.07% expense ratio.
VTES will be the latest addition to Vanguard's ETF lineup, which consists of more than 75 other ETFs and 160 mutual funds. VTES will trade alongside other fixed income funds that the issuer has. These include the Vanguard Total Bond Market ETF ( NASDAQ: BND ), Vanguard Total International Bond ETF ( NASDAQ: BNDX ), Vanguard Short-Term Corporate Bond ETF ( NASDAQ: VCSH ) and Vanguard Tax-Exempt Bond ETF ( VTEB ).
In other ETF launch news, J.P. Morgan Asset Management unveiled its latest exchange traded fund on Wednesday, with the debut of the JPMorgan Active Small Cap Value ETF.
For further details see:
Vanguard unveils its Short-Term Tax-Exempt Bond ETF