State Street Cuts Fee on Euro Government Bond ETF
The expense ratio will be reduced by a third to 0.10% from 0.15%.
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.
