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Vanguard Investments Canada Inc. has launched a new global fixed income ETF. 

The single-ticket ETF, called the Vanguard Global Aggregate Bond Index ETF (CAD-hedged), is composed of two underlying Vanguard low-cost aggregate bond ETFs, the Toronto-based firm said in a release.

The new fund will invest directly or indirectly in a broad range of the global investment-grade fixed income markets. It will aim to hedge foreign currency exposure against the Canadian dollar using derivative instruments. 

The ETF will be sub-advised by Vanguard’s fixed income group and has a management fee of 0.30%. It began trading on the Toronto Stock Exchange on Thursday. 

The addition of the fund means Vanguard has 40 funds in Canada and CAD$25 billion in ETF assets under management.