Vanguard Group today launched a new dividend-yield focused index fund...

Vanguard Group today launched a new dividend-yield focused index fund aimed at individual investors, institutions and financial advisers. The Vanguard High Dividend Yield Index Fund will offer both traditional investor shares, with an expected expense ratio of 0.40%, and ETF shares, with an expected expense ratio of 0.25%, according to a news release. The fund will track the performance of the FTSE High Dividend Yield index, "a new custom benchmark of U.S. stocks that have had higher-than-average yields," the news release said. The investor shares will require a minimum initial investment of $3,000.