Vanguard has introduced three new international ETFs: European Vipers (VGK) that tracks the MSCI Europe Index (MER: 0.18%), Pacific Vipers (VPL) that track the MSCI Pacific Index (MER: 0.18%), Emerging Markets Vipers (VWO, MER: 0.30%). These new ETFs compete directly with existing iShares offerings which have higher expenses. Like this MarketWatch.com article notes, it is possible that Vanguard’s move will spark a round of fee cuts that should make international investing even cheaper.