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Vanguard on Tuesday launched two index municipal bond exchange-traded funds managed by its mounted earnings group: Vanguard Intermediate-Time period Tax-Exempt Bond ETF (VTEI) and Vanguard California Tax-Exempt Bond ETF (VTEC).
“The continued growth of our tax-exempt bond ETF lineup brings advisors and particular person traders new methods to entry the municipal market with a low-cost and diversified portfolio,” stated Sara Devereux, world head, Vanguard Mounted Earnings Group.
Vanguard Intermediate-Time period Tax-Exempt Bond ETF is designed for tax-sensitive traders with an intermediate time horizon and a desire for passive administration. Its 0.08% expense ratio compares with the 0.37% common for competing funds, Vanguard stated.
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