Vanguard will unleash four more VIPERs on the American Stock Exchange on Wednesday morning.

Vanguard, which structures its exchange-traded funds as separate classes of existing funds, will launch the REIT VIPER share class, which has an expense ratio of 18 basis points, and tracks the Morgan Stanley REIT Index.

Vanguard is also launching share classes of the Energy VIPER, which tracks the Morgan Stanley Capital International (MSCI) US Investable Market Energy Index; the Vanguard Industrials VIPER, which tracks the MSCI US Investable Market Industrials Index; and the Vanguard Telecommunication Services VIPER, which tracks the MSCI US Investable Market Telecommunication Services Index -- all with an expense ratio of 28 basis points.

In addition to the four new funds, Vanguard offers 16 exchange-traded Vipers. 

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