A new Vanguard exchange-traded fund, the Vanguard Europe Pacific ETF, begins trading on the American Stock Exchange today. With 1,134 holdings, it is the most broadly diversified ETF on the market, Vanguard said, and with an expense ration of 15 basis points, it is the lowest-cost ETF tracking the MSCI EAFE Index, which has holdings in companies in 21 countries. The new offering is a share class of the $2.3 billion Vanguard Tax-Managed International Fund.

“Vanguard has long been recognized as a low-cost leader among mutual fund investors, and we’re bringing that same cost advantage to ETF investors,” said Vanguard Chief Investment Officer Gus Sauter.

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