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Toronto-based Vanguard Investments Canada Inc. has launched Vanguard FTSE Developed ex North America High Dividend Yield Index ETF, offering yield-hungry investors exposure to high-dividend companies outside of North America.

The ETF (Ticker symbol: VIDY) began trading on the Toronto Stock Exchange today with a management fee of 0.28%.

The fund tracks the FTSE Developed ex North America High Dividend Yield Index, which includes high dividend yield companies that are based in developed markets, outside North America.

“Canadian investors and advisors are increasingly looking for global income-oriented solutions,” says Atul Tiwari, managing director of Vanguard Canada, in a statement. “This ETF helps meet that need with an easy-to-understand investment process featuring strong equity yield potential with low-costs and a disciplined risk management framework.”

“We have seen that Canadian investors value equity income options that are low-cost, global and well-diversified,” adds Tim Huver, head of product, Vanguard Canada. “This ETF provides exposure to the largest high dividend-paying companies across a diversified mix of 23 developed international markets outside of North America.”