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].