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September 26, 2022 at 10:40 AM
Vanguard plans to liquidate its $44 million Vanguard U.S. Liquidity Factor ETF in late November, citing its lack of popularity with investors — its first closure of a U.S. exchange traded fund.
“Despite the ETF’s capable advisor and sound approach to factor investing, it has not gained scale since its 2018 debut,” said Dan Reyes, head of the Vanguard Portfolio Review Department, in a statement.
Overall, though, Vanguard says it “continues to believe in the long-term investment case for factor investing.” Its other U.S. factor funds have a combined $3.4 billion in assets and are actively managed by the Vanguard Quantitative Equity Group. The five factors they target are value, momentum, quality, liquidity and minimum volatility.
The Vanguard U.S. Liquidity Factor ETF’s expense ratio is 0.13%. It is down 22.56% this year, according to Morningstar.
