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.
Source:
Vanguard Ups the Ante in an ETF Race to Zero
Asjylyn Loder
WSJ, Feb. 26, 2019
https://www.wsj.com/articles/vanguard-ups-the-ante-in-an-etf-race-to-zero-11551184467
Previously:
Wall Street Learns That Giving Stuff Away Is Boring
Barry Ritholtz
Bloomberg, February 21, 2019
https://bloom.bg/2Ni3Z9m
