Designed to provide broad exposure to the Consumer Discretionary - Broad segment of the equity market, the Vanguard Consumer Discretionary ETF (VCR) is a passively managed exchange traded fund launched on January 26, 2004.Passively managed ETFs are becoming increasingly popular with institutional as well as retail investors due to their low cost, transparency, flexibility and tax efficiency. They are excellent vehicles for long term investors.Sector ETFs also provide investors access to a broad group of com ...