Today, new issuer BNY Mellon rolled out five ETFs to accompany the three plain vanilla ETFs it launched earlier in the month. The additions and their expense ratios are as follows:
- BNY Mellon International Equity ETF (BKIE), 0.04%
- BNY Mellon Emerging Markets Equity ETF (BKEM), 0.11%
- BNY Mellon Core Bond ETF (BKAG), 0.00%
- BNY Mellon Short Duration Corporate Bond ETF (BKSB), 0.06%
- BNY Mellon High Yield Beta ETF (BKHY), 0.22%
All of the funds list on the NYSE Arca.
Like the BNY Mellon US Large Cap Core Equity ETF (BKLC), BKAG comes with an expense ratio of zero, without any waivers. It is officially the lowest-cost fixed income ETF available to investors. Like several existing bond ETFs, it tracks the Bloomberg Barclays US Aggregate Total Return Index.
Prior to today’s launch, the cheapest broad fixed-income ETFs were the iShares Core U.S. Aggregate Bond ETF (AGG) and the Vanguard Total Bond Market ETF (BND), which have assets under management of $70 billion and $50 billion, respectively, and expense ratios of 0.04%.
The two equity ETFs track plain vanilla Morningstar indexes, while the three fixed income ETFs are all tied to Bloomberg Barclays indexes. With this most recent launch, BNY Mellon’s new family covers every major asset class at a competitive price, if not the lowest price for each category.
Contact Heather Bell at [email protected]