Vanguard Files ETF Share Class for Active Small- and Mid-Cap Strategy

Vanguard has filed to offer ETF shares for an actively managed strategy focused on U.S. small- and mid-cap stocks. Under normal conditions, at least 80% of net assets will be invested in domestic companies generally falling within the market-capitalization range of the FTSE Russell 2500 Index. Rather than tracking the benchmark, the Vanguard U.S. Small-Mid Cap Active ETF will use active security selection based on the adviser’s assessment of individual stocks’ relative return potential. Companies can qualify as U.S. issuers based on factors including incorporation, principal place of business, primary country of risk or primary stock-market listing.