BlackRock Cuts Fees on $7.6 Billion Style ETFs to Near Zero
- Expense ratios of nine funds plunge to range of 0.03% to 0.06%
- Competition has prompted big fund issuers to reduce costs
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BlackRock Inc.’s revamped $7.6 billion lineup of style ETFs will feature new benchmarks, different tickers and a perk: rock-bottom fees.
The world’s biggest exchange-traded fund issuer is cutting the expense ratios on nine iShares Morningstar U.S. Equity Style Box ETFs to a range of 0.03% to 0.06%. That’s down from previous charges that varied between 0.25% and 0.30%. Those products -- which focus on specific approaches such as company size and growth or value investing -- are now tracking the Morningstar Broad Style Indexes that were launched in January.