Vanguard has announced it intends to close an exchange traded fund, marking a first for the asset manager despite its 20 years in the market.
The firm intends to liquidate the $44mn Vanguard US Liquidity Factor ETF in November, the firm announced.
The fund, the smallest in its six-fund suite of factor-tilting products, has failed to gain scale since its 2018 debut. The remaining funds have a combined $3.4bn in assets, the manager noted in the release.
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