Vanguard Group announced Wednesday it launched seven exchange-traded funds based on Russell indexes.

The new funds are part of the Valley Forge, Pa., based company’s aggrement plans to expand its ETF lineup. Vanguard announced earlier this year a plan to launch a total of 20 new ETFs based on a variety of indices, including the Russell 1000, Russell 2000 and Russell 3000 indexes.

Previously, the majority of Vanguard’s ETFs were based on MSCI indexes.

Late last month, Vanguard, which is the third largest ETF provider nationally, launched the Vanguard S&P 500 ETF and eight other equity ETFs based on S&P indices.

Analysts said Vanguard wants to create a broader ETF lineup to offer advisors a variety of choices based upon their different needs.

The new Russell based funds introduced Tuesday are the Vanguard Russell 1000 ETF, the Vanguard Russell 1000 Value ETF, the Vanguard Russell 1000 Growth ETF, the Vanguard Russell 2000 Index Fund, the Vanguard Russell 2000 Value Index Fund, the Vanguard Russell 2000 Growth Index Fund and the Vanguard Russell 3000 Index Fund.

Vanguard offers some of the least expensive ETFs in the industry. The new funds’ expense ratios range from 0.12% to 0.2%.

The company said it plans to continue to introduce more inexpensive ETF options throughout the next 12 months, including municipal bond and real estate funds.


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