Vanguard Group Inc. has introduced four bond exchange-traded funds that began trading on the American Stock Exchange Tuesday.

They are the Valley Forge, Pa., company's first exchange-traded, fixed-income portfolios. Vanguard, the mutual fund industry's largest index fund manager, introduced its first stock ETF in 2001 and now manages 28 domestic and international equity ETF portfolios.

The company in 1986 started the first bond index fund for individual investors, the Vanguard Total Bond Market Index Fund. Today, its fixed-income group manages $310 billion of fixed-income assets, including $65 billion in bond index funds.

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