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Toronto-based Vanguard Investments Canada Inc. has added a new retirement-focused fund to its lineup of all-in-one asset allocation ETFs.

Vanguard Retirement Income ETF Portfolio offers investors a target payout of 4% per year with the possibility of some capital appreciation. To meet this goal, the fund invests in four Vanguard equity ETFs and four Vanguard fixed income ETFs.

“Following one of the sharpest market declines in recent memory earlier this year, Canadian investors and advisors are looking to effectively safeguard and manage their hard-earned assets to meet their retirement needs,” said Scott Johnston, head of product, Vanguard Canada, in a release.

The launch of the retirement portfolio brings Vanguard’s total number of all-in-one asset allocation ETFs to six and its ETF count to 37.

The ETF has a management fee of 0.29%. The fund is currently trading on the Toronto Stock Exchange.