In an announcement made Tuesday, BlackRock, Inc. (NYSE: BLK)'s iShares unit, the world's largest issuer of exchange-traded funds, said it is paring the fees on seven of its core ETFs, bringing some of the annual expense ratios on those funds to as low as 0.03 percent per year. That works out to be a mere $3 for every $10,000 invested.
The news extends a multi-year theme of ETF issuers paring fees to lure advisor and investor assets while putting iShares' rivals, such as Vanguard and Charles Schwab, on notice that the ETF giant is more than willing to compete on cost.
Just last month, State Street Global Advisors (SSgA), the third-largest U.S. ETF sponsor, lowered the annual expense ratios on its popular sector SPDR lineup, including the Energy Select Sector SPDR (ETF) (NYSE: XLE) and the Technology SPDR (ETF) (NYSE: XLK), to 0.14 percent a ...
/www.benzinga.com/trading-ideas/long-ideas/15/11/5974194/how-lower-fees-impact-ishares-core-etfs alt=How Lower Fees Impact iShares Core ETFs>Full story available on Benzinga.com
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