Vanguard’s 2 New Muni ETFs Have an Advantage Over Mutual Funds

Vanguard’s 2 New Muni ETFs Have an Advantage Over Mutual Funds

Who wants some beta? Vanguard rounded out its municipal bond fund suite last week with a pair of passively managed tax-exempt funds: the Long-Term Tax-Exempt Bond and New York Tax-Exempt Bond ETFs. The strategies are new, not replicating existing mutual funds from the company’s extensive product line. There are, however, two active mutual funds in the same category, the Admiral shares of which charge 9 basis points — the same fee charged by the …