BlackRock Tops BlackRock as Cheap ETF Surpasses Pricier Fund
- A ‘core’ developed-market fund is now bigger than the original
- The money manager started a range of low-cost funds in 2012
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The pupil has become the master within BlackRock Inc.’s exchange-traded fund business, with cost-conscious investors favoring a range of cheap funds over more established products.
BlackRock’s ETF designed to offer price-efficient exposure to developed markets has outgrown its similar, more expensive fund for the first time, data compiled by Bloomberg show. The upstart -- the iShares Core MSCI EAFE ETF, known as IEFA -- now manages $63.6 billion after adding $522 million on Wednesday. The original iShares MSCI EAFE ETF has $63.1 billion.