Vanguard introduced the Europe Pacific ETF, ticker symbol VEA, today. The fund covers the same international index as and is seen as a direct competitor to the iShares Morgan Stanley Capital International Europe, Australasia and the Far East (MSCI EAFE) ETF, ticker symbol EFA, and will be a share class of the existing Vanguard Tax-Managed International fund. With an anticipated expense ratio of 0.15%, the new Vanguard fund is expected to provide stiff competition for the iShares fund, which has an expense ratio of 0.35%.

Vanguard Europe Pacific does not include an allocation to the emerging markets, which are covered by Vanguard's Emerging Markets ETF (Ticker: VWO) and iShares' MSCI Emerging Markets Index ETF (EEM).