July 26, 2007 at 1:00 am by Tom Lydon
Vanguard is upping the exchange traded fund (ETF) ante by working to launch the lowest cost ETFs. Vanguard is known as a low-cost leader within the mutual fund industry and now aims to take over the position with ETFs. Today the Vanguard Europe/Pacific ETF (VEA) begins trading on the American Stock Exchange. The press release states it will track the MSCI EAFE Index with an expense ratio of 0.15%. VEA will be in competition with iShares MSCI EAFE (EFA), which has an expense ratio of 0.35%.
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