Odds & Ends: State Street Slashes Fees on 10 ETFs

Odds & Ends: State Street Slashes Fees on 10 ETFs

SPLG is now the cheapest S&P 500 Index exchange-traded fund.

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Reviewed by: Lisa Barr
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Edited by: Lisa Barr

State Street Global Advisors slashed fees on 10 of its ETFs that hold a total of nearly $80 billion in assets under management.

While the funds make up only about 7% of the $1.1 trillion the firm manages across 137 ETFs, it includes multiple popular index funds. The largest, the $20 billion SPDR Portfolio S&P 500 ETF (SPLG), is now the least expensive S&P 500 index ETF, with an expense ratio of 0.02%, compared to 0.03% for similar funds at BlackRock Inc. and Vanguard Group.

The fee cuts mark a major new salvo in the ongoing price war in the ETF world. S&P 500 ETFs first reached 0.03% expense ratios in 2019, when a series of price cuts pushed Vanguard’s S&P 500 ETF down to that level, soon followed by BlackRock and State Street Global Advisors since then.

There’s no news yet on whether the other major firms will follow, but based on previous fee cuts, they are likely not far behind. 

Launches 

Monday:

  • JPMorgan Equity Focus ETF (JPEF) 
  • JPMorgan Limited Duration Bond ETF (JPLD) 

Tuesday: 

  • AllianzIM U.S. Large Cap Buffer10 Aug ETF (AUGT) 
  • AllianzIM U.S. Large Cap Buffer20 Aug ETF (AUGW) 
  • Astoria US Quality Kings ETF (ROE) 

Wednesday: Academy Veteran Impact ETF (VETZ) 

Thursday: 

  • First Trust Intermediate Duration Investment Grade Corporate ETF (FIIG) 
  • DGA Absolute Return ETF (HF) 
  • First Trust Intermediate Government Opportunities ETF (MGOV) 

Closures 

Monday:  

Thursday: 

ETF Changes 

Monday: The following funds had expense ratio changes: 

Tuesday: 

The Franklin FTSE Europe Hedged ETF (FLEH) changed its name to the Franklin FTSE Eurozone ETF (FLEU) and changed its underlying index from FTSE Developed Europe RIC Capped Hedged to USD Index to the FTSE Developed Eurozone Index. 

The following funds changed their expense ratio on Tuesday: 

 

Gabe Alpert is a former data reporter at etf.com with over seven years’ experience in financial journalism. He also previously contributed reporting and analysis to Barron’s Magazine, Investopedia and other publications.