Oppenheimer Slashes ETF Fees

November 01, 2016

OppenheimerFunds has slashed the expense ratios on five of its eight ETFs by significant margins. The Oppenheimer Global Growth Revenue ETF (RGRO), which has just $2.3 million in assets, saw the most notable fee reduction, lowering its expense ratio from 0.70% to 0.54%.

Meanwhile, the $415 million flagship Oppenheimer Large Cap Revenue ETF (RWL) reduced its expense ratio from 0.49% to 0.39%. Another three ETFs in the Oppenheimer family are seeing fee cuts ranging from 0.10% to 0.15%, as shown in the table below.

 

Fund Ticker Old Exp Ratio New Exp Ratio
Oppenheimer Large Cap Revenue ETF RWL 0.49 0.39
Oppenheimer Mid Cap Revenue ETF RWK 0.54 0.39
Oppenheimer Small Cap Revenue ETF RWJ 0.54 0.39
Oppenheimer Ultra Dividend Revenue ETF RDIV 0.49 0.39
Oppenheimer Global Growth Revenue ETF RGRO 0.70 0.54

 

The fees are part of a general trend of compression in the ETF space, although it has not really been as common in the smart-beta realm and has mostly taken place among cap-weighted funds.

Contact Heather Bell at [email protected].

 

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