Vanguard Group started the Vanguard FTSE All-World ex-US Small-Cap ETF on Monday.

The fund, which tracks the performance of the FTSE Global Small Cap ex US Index, began trading on the NYSE Arca exchange.

According to Lipper, this is the only international small-cap ETF in the marketplace to cover both developed and emerging international markets.

The introduction brought the number of Vanguard's exchange-traded funds to 39, with aggregate assets topping $44 billion.

Vanguard, which is based in Malvern, Pa., had $1 trillion of U.S. mutual fund assets, including nearly $490 billion of retirement assets, at Dec. 31.

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