Fees are coming down on 10 Vanguard ETFs $(175 billion aum)
Source: Wall Street Journal
My friend Asjylyn notes the fee wars continue:
“Vanguard Group is cutting management fees on 10 exchange-traded funds, the latest money manager to trim fees on a host of investment products.
The ETFs, with combined assets of $176 billion, include funds that invest in international stocks and bonds. The biggest is the $63 billion Vanguard FTSE Emerging Markets ETF, which will cost $12 a year for every $10,000 invested. That is down from $14, making it cheaper than a competing ETF from BlackRock Inc.’s iShares Core lineup. In addition, 43 Vanguard mutual funds are also reducing fees.”
LOL punchline: My thesis that the “Race to Zero is Over,” barely out for a week, is already showing cracks. But the broader concept — low fees are in Vanguard’s DNA, but are a marketing cost to Schwab and Fidelity — remains fully in effect.
Vanguard Ups the Ante in an ETF Race to Zero
WSJ, Feb. 26, 2019
Wall Street Learns That Giving Stuff Away Is Boring
Bloomberg, February 21, 2019