Many are share classes of its popular mutual funds, not stand-alone ETFs. At the moment, this hybrid ETF/mutual fund is unique to Vanguard because it owns a patent on the structure. The patent is ...

Composite classes are a practical response to the problem of uneven grade enrolments; for example, when there are too many students to form one "straight" grade but not enough to form two.

BlackRock has joined the list of firms filing to adopt Vanguard’s ETF multi-share class structure, pitching the dual-class flexibility as bolstering ETFs’ asset base by yoking them to mutual ...