Two Vanguard actively-managed municipal bond ETFs launched today with the corporate’s characteristic low fees. They join a growing roster of energetic fixed income funds on the nation’s second largest asset manager.

Vanguard’s latest muni ETFs, which were announced in August, are Vanguard Core Tax-Exempt Bond ETF (VCRM) and Vanguard Short Duration Tax-Exempt Bond ETF (VSDM). VCRM and VSDM each have expense ratios of 0.12%. That’s below the common expense ratios for competing funds of 0.36% and 0.27%, respectively, in keeping with Vanguard,…