State Street Cuts Fee on Euro Government Bond ETF

State Street Global Advisors has continued its fee offensive by cutting the expense ratio on its euro government bond ETF by a third. 

Effective Nov. 1, the $1.2 billion SPDR Bloomberg Euro Government Bond UCITS ETF (SYBB) will see its total expense ratio slashed from 0.15% to 0.10%. 

The move will make SYBB as Europe’s sixth lowest-fee ETF capturing euro sovereign debt. 

Launched in 2011, the exchange-traded fund tracks the Bloomberg Euro Treasury Bond index to offer market cap-weighted exposure to 446 eurozone government bonds with an average maturity of 8.64 years and yield to maturity of 3.52%. 

Fee Cuts at 3 Other ETFs

Changes to SYBB’s expense ratio coincide with fee cuts to three SSGA S&P 500 ETFs. 

The SPDR S&P 500 UCITS ETF (SPY5) will see its expense ratio drop by two-thirds—from 0.09% to 0.03%—to become the lowest-fee UCITS ETF. 

Elsewhere, the SPDR S&P 500 ESG Leaders UCITS ETF (SPPY) will also see its expense ratio drop to 0.03%—down from 0.10%—while the SPDR S&P 500 EUR Hdg UCITS ETF (SPPE) sees its fee cut from 0.12% to 0.05%.

All four of the ETFs set to undergo changes to their fee structure are included in the list of 67 Europe-listed State Street Global Advisors ETFs set to begin lending out their underlying securities on Friday.