Looks like it’s a race to the bottom in the ETF business on fees.
BlackRock has announced expense ratio cuts at several of its existing products as it creates the new iShares Core Series targeting buy-and-hold investors.
The move follows fee reductions at rivals Vanguard and Charles Schwab.
“The iShares Core Series is a suite of products offering a competitively priced, diversified, tax-efficient family of ETFs that investors can use as building blocks for the heart of their portfolios in domestic and international equities and U.S. fixed income,” BlackRock said.
The series is comprised of six existing ETFs and four new iShares.