Vanguard's Low-Cost VIPER Shares Begin Trading on American Stock Exchange.Business Editors VALLEY FORGE Valley Forge, on the Schuylkill River, SE Pa., NW of Philadelphia. There, during the American Revolution, the main camp of the Continental Army was established (Dec., 1777–June, 1778) under the command of Gen. George Washington. , Pa.--(BUSINESS WIRE)--Jan. 30, 2004 Fourteen new exchange-traded Vanguard(R) VIPERs(R) began trading today on the American Stock Exchange American Stock Exchange (AMEX) Stock exchange in the U.S. Originally known as “the Curb,” it began as an outdoor marketplace in New York City c. 1850. It moved indoors to its present location in the Wall Street area in 1921. . The new VIPER viper, any of a large number of heavy-bodied, poisonous snakes of the family Viperidae, characterized by erectile, hypodermic fangs. The fangs are folded back against the roof of the mouth except when the snake strikes. (R) Shares are a separate, exchange-traded share class of Vanguard index funds that track segments of the U.S. stock markets based on capitalization capitalization n. 1) the act of counting anticipated earnings and expenses as capital assets (property, equipment, fixtures) for accounting purposes. 2) the amount of anticipated net earnings which hypothetically can be used for conversion into capital assets. (large- mid-, and small-cap), investment style (value and growth), and market sector. The 14 VIPERs, which track various domestic benchmarks developed by Morgan Stanley Capital International Morgan Stanley Capital International (MSCI) This firm publishes a number of well known benchmarks, such as the MSCI World Index. , Inc. (MSCI), feature some of the lowest expense ratios among similar exchange-traded funds Exchange-traded funds (or ETFs) are Open Ended investment companies that can be traded at any time throughout the course of the day. Typically, ETFs try to replicate a stock market index such as the S&P 500 (e.g. tracking discrete market segments (large-, mid-, and small-capitalization stocks), and specific equity sectors.
VIPER SHARES TICKER EXPENSE RATIO
----------------------------------------------------------------------
Vanguard(R) Large-Cap VIPERs VV 0.12%
----------------------------------------------------------------------
Vanguard(R) Value VIPERs VTV 0.15%
----------------------------------------------------------------------
Vanguard(R) Growth VIPERs VUG 0.15%
----------------------------------------------------------------------
Vanguard(R) Mid-Cap VIPERs VO 0.18%
----------------------------------------------------------------------
Vanguard(R) Small-Cap VIPERs VB 0.18%
----------------------------------------------------------------------
Vanguard(R) Small-Cap Value VIPERs VBR 0.22%
----------------------------------------------------------------------
Vanguard(R) Small-Cap Growth VIPERs VBK 0.22%
----------------------------------------------------------------------
Vanguard(R) Consumer Discretionary VIPERs VCR 0.28%
----------------------------------------------------------------------
Vanguard(R) Consumer Staples VIPERs VDC 0.28%
----------------------------------------------------------------------
Vanguard(R) Financials VIPERs VFH 0.28%
----------------------------------------------------------------------
Vanguard(R) Health Care VIPERs VHT 0.28%
----------------------------------------------------------------------
Vanguard(R) Information Technology VIPERs VGT 0.28%
----------------------------------------------------------------------
Vanguard(R) Materials VIPERs VAW 0.28%
----------------------------------------------------------------------
Vanguard(R) Utilities VIPERs VPU 0.28%
----------------------------------------------------------------------
The addition of these VIPER Shares brings the total number of exchange-traded shares offered by Vanguard to 16, with 6 additional VIPERs expected to launch later this year(1). All VIPERs currently trade on the American Stock Exchange. Salvatore F. Sodano, American Stock Exchange chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , said, "We are thrilled that Vanguard chose the Amex to list their new family of VIPERs. As the global leader in exchange traded funds Exchange Traded Funds (ETF) Also known as ETF. A basket of stocks similar to an index mutual fund. However, there are a number of important differences between ETFs and mutual funds. , we look forward to building on this strong relationship with Vanguard and bringing more innovative investment opportunities to the ETF ETF See Exchange Traded Fund. ETF See exchange-traded fund (ETF). marketplace." Since introducing the industry's first index mutual fund in 1976--now known as the $96 billion Vanguard(R) 500 Index Fund-- Vanguard has established itself as the leader in the passive investment management approach, with 53 stock, balanced, and bond index funds, as well as 7 commingled index trusts. In aggregate, Vanguard manages $290 billion in indexed assets. About American Stock Exchange(R) The American Stock Exchange(R) (Amex) is the only primary exchange that offers trading across a full range of equities, options, and exchange traded funds (ETFs), including structured products and HOLDRS(SM). In addition to its role as a national equities market, the Amex is the pioneer of the ETF, responsible for bringing the first domestic product to market in 1993. Leading the industry in ETF listings, the Amex lists 138 ETFs to date. The Amex is also one of the largest options exchanges in the U.S., trading options on broad-based and sector indexes as well as domestic and foreign stocks. About The Vanguard Group The Vanguard Group, headquartered in Valley Forge, Pennsylvania This article is about the Village of Valley Forge, in southeastern Pennsylvania. For other uses, see Valley Forge (disambiguation). The Village of Valley Forge is an unincorporated settlement located on the west side of Valley Forge National Historical Park at the , is the nation's second largest mutual fund firm and a leading provider of company sponsored retirement plan services. Vanguard serves some 17 million shareholder accounts and manages more than $700 billion in U.S. mutual fund assets Fund assets The total value of a portfolio's securities, cash, and other holdings, minus any outstanding debts. , including more than $205 billion in employer-sponsored retirement plans. Vanguard offers 126 funds to U.S. investors and 35 additional funds in foreign markets. (1)A registration statement relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc the VIPER Shares has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This communication shall not constitute an offer to sell or the solicitation solicitation In criminal law, the act of asking, inducing, or directing someone to commit a crime. The person soliciting another becomes an accomplice to the crime. The term also refers to the act of obtaining bribes, as well as to the crime of a prostitute who offers sexual of an offer to buy, nor shall there be any sale of, these securities in any state in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state. For more information, including risks, charges and expenses, about VIPER Shares, obtain its prospectus or product brochure, and read it carefully before you invest or send money. Copies of the final prospectus Final Prospectus A legal document stating the price of a newly issued security, the delivery date, and other facts that are important for investors. Notes: The final prospectus must be given to every investor who purchases a new issue of registered securities. , which is subject to change, can be obtained from The Vanguard Group 1-800-662-7447. VIPERs patent pending. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion