BlackRock Cuts Fees on ETFs as Price War Moves to Smart Beta
- Expenses lowered for six funds by as much as 20 basis points
- Firm has faced price challenge in segment from Goldman Sachs
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BlackRock Inc., the world’s largest asset manager, is cutting expenses on six smart beta exchange-traded funds as competition heats up to win investors in a growing market.
BlackRock is lowering fees for the ETFs by as much as 20 basis points, according to Securities and Exchange Commission filings. The reductions put the firm in closer competition with Goldman Sachs Group Inc.’s multifactor products, which have had low costs.