ETFs & Mutual Funds
Vanguard Plans Two More Muni ETFs as Competition Heats Up
- Issuers’ new muni ETF offerings set a record in 2024
- Vanguard, BlackRock have the two dominant funds in the class
Muni ETFs have seen inflows in each of the past 12 months, including $2.1 billion in February.
Photographer: Gabby Jones/BloombergThis article is for subscribers only.
Vanguard Group Inc. is planning to launch two new municipal-bond exchange-traded fund offerings after tripling its lineup of products catering to state and local-government debt investors last year.
The Vanguard New York Tax-Exempt Bond ETF, which is expected to trade under the ticker MUNY, will focus on investment-grade New York debt. The fund will appeal to residents of the high-tax state of New York who are drawn to the tax-free interest paid by municipalities there. The investing giant also filed to register the Vanguard Long-Term Tax-Exempt Bond ETF, or VTEL, which will provide exposure to longer duration municipal bonds.