Vanguard has launched an exchange-traded fund (ETF) offering exposure to US high-yield corporate bonds.

Vanguard has launched the Vanguard US High-Yield Corporate Bond Index ETF (VCHY), expanding its fixed income product range with exposure to US dollar-denominated high-yield corporate bonds. The ETF will be managed on a day-to-day basis  The ETF is managed by Vanguard Capital Management's Fixed Income Group and seeks to track the Bloomberg U.S. Corporate High Yield 250MM two percent Issuer Capped Index. The index is market-value weighted and is designed to provide broad exposure to belo