Vanguard Plans First Junk ETF as JPMorgan Heats Up Active Race

Vanguard Group is planning its debut into an increasingly competitive corner of the $11.6 trillion US exchange-traded fund arena.

The Vanguard High-Yield Active ETF would trade under the ticker VGHY and invest at least 80% of its portfolio in high-yield debt, according to a Tuesday filing with the Securities and Exchange Commission. The fund’s proposed fee is 0.22% — cheaper than any existing actively managed high-yield ETFs, data compiled by Bloomberg showed.