The massive asset management company Vanguard Group Inc. has today announced plans for a new ETF, the Vanguard Short-Term Tax-Exempt Bond ETF. The new fund plans to track a municipal bond index that mature within one month to seven years. Vanguard is the second largest ETF issuer with $6.7 trillion in assets under management.
ETF Newz Says:
The new launch is rare for Vanguard as it is their first launch in 20 months.
