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Products April 27, 2006
Vanguard Announces Three New ETF Offerings
April 27, 2006 (PLANSPONSOR.com) - Vanguard
announced that the Vanguard Dividend Appreciation Index Fund,
offering traditional investor shares and exchange-traded
shares, commenced trading Thursday morning on the American
Stock Exchange.
Reported by Rebecca Moore
The new exchange-traded fund (ETF) features an expense ratio of 0.28%, which is the lowest expense ratio among dividend-oriented ETFs, according to the announcement.
Vanguard Dividend Appreciation Index Fund seeks to provide competitive long-term growth of capital and increasing income, the announcement said. The fund’s target benchmark is the Mergent Dividend Achievers Select Index.
In addition, Vanguard has filed a registration statement with the Securities and Exchange Commission (SEC) for two new equity index funds, Vanguard Mid-Cap Value Index Fund and Vanguard Mid-Cap Growth Index Fund. The new funds will offer both Investor Shares and exchange-traded shares.
Vanguard Mid-Cap Value Index Fund will seek to track the performance of the MSCI US Mid Cap Value Index, and the Vanguard Mid-Cap Growth Index Fund will seek to track the performance of the MSCI US Mid Cap Growth Index.
The three new funds will be managed by Vanguard Quantitative Equity Group.