Vanguard Group Inc. launched a high-dividend-yield index fund Thursday.
The fund, which is available to individuals, institutions, and financial advisers, tracks the performance of the FTSE High Dividend Yield Index, a customized benchmark of U.S. stocks that have had higher-than-average yields.
Investor-class shares require a minimum initial investment of $3,000 and are expected to have an expense ratio of 0.4%. Exchange-traded shares require no minimum purchase and are expected to have an expense ratio of 0.25%.
As of Sept. 30 the Valley Forge, Pa., mutual fund company manages $1 trillion of assets, including 60 indexed fund and annuity portfolios with $435 billion of assets and $20 billion of exchange-traded fund assets.
