Here is some really good news for ETF investors. Vanguard is on the hunt for EFA investors. They've announced plans to undercut Barclays Global Investors’ pricing for BGI’s flagship Exchange Traded Fund. dominance in the ETF marketplace. ETF investors like you and me can only benefit from this.

In papers filed with the SEC (here's the prospectus at sec.gov), Vanguard has announced plans to launch a new Exchange Traded Fund which will be tied to the MSCI EAFE Index. Vanguard's planned ETF, targeted squarely at Barclays' EFA, will trade under the symbol VEA and be known as the Vanguard Europe Pacific ETF.

The really good news is they plan to offer this new international stock index at a whopping 20 basis points less than EFA. Currently EFA's expenses and fees amount to a nice 0.35% for Barclays. Vanguard proposes to offer essentially the same product for 0.15%.

Ah, competition is such a wonderful thing. As you know, expenses and fees are one of my top six ETF investment evaluation criteria when I look at ETF investments. This new fund is an open invitation to put more of my money to work for me. When it's available you can be sure this investor will be giving VEA due consideration.