Vanguard has launched a new municipal bond index ETF, the Vanguard Short-Term Tax-Exempt Bond ETF, designed for tax-sensitive investors with a short-term time horizon and low interest rate risk tolerance. The ETF predominantly invests in short-term investment grade municipal bonds and tracks the S&P 0-7 Year National AMT-Free Municipal Bond Index.
Vanguard Launches Short-Term Tax-Exempt Bond ETF for Tax-Sensitive Investors
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Managed by Vanguard Fixed Income Group, the ETF has an expense ratio of 0.07%, significantly lower than the average short-term bond fund.