Vanguard is encroaching on Barclays Global Investors' territory in the emerging market ETF game. In Monday's WSJ Fund Track, Ian Salisbury reports that until recently, most emerging markets ETF business had gone to the iShares MSCI Emerging Markets Index Fund. However, the Vanguard Emerging Markets ETF has seen inflows of $2.13 billion through July 23 of this year, while the iShares has seen $2.8 billion flow out of its fund. Morgan Stanley analyst Paul Mazzilli tells Salisbury that the biggest selling point of the new Vanguard ETF is the expense ratio of 25 bps, compared with an expense ratio of 74 bps for the Barclays product.  

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