Dimensional Grafts Vanguard’s Tax-Busting Model Onto Mutual Fund

Dimensional Fund Advisors is becoming the first asset manager to launch an exchange-traded fund share class of a mutual fund since Vanguard Group’s patent on the model expired nearly three years ago.

The actively managed Dimensional US Micro Cap ETF begins trading on Friday under the ticker DFMC, Dimensional said in a statement. DFMC is a share class of the company’s US Micro Cap Portfolio, which has existed as a mutual fund since 1981.