VIG tracks the NASDAQ US Dividend Achievers Select Index (formerly known as the Dividend Achievers Select Index).

“This index is a subset of the NASDAQ US Broad Dividend Achievers Index and is administered exclusively for Vanguard by NASDAQ. The fund attempts to replicate the target index by investing all, or substantially all, of its assets in the stocks that make up the index, holding each stock in approximately the same proportion as its weighting in the index,” according to Vanguard.

“Lowering costs can give our clients a better chance for investment success. In fact, more than 50% of our investment offerings — spanning all product types, asset classes, and management styles — have reported expense ratio reductions over the last six months,” said Vanguard CEO Bill McNabb in a statement. “We continue to look for ways to reduce the cost of investing. At the same time, we are also investing in people and technology to protect our clients’ assets, help improve their fund performance, and serve them more effectively and efficiently with the ultimate goal of improving their outcomes and overall investing experience at Vanguard.”

VIG, which had $29.6 billion in assets under management at the end of April, holds 188 stocks. Industrials are by far the ETF’s largest sector weight at 31.5% while both consumer sectors combine for just over 30% of VIG’s weight. Interest rate-sensitive telcom and utilities stocks combine for barely more than 2% of VIG’s roster. VIG hit an all-time last Friday.