BlackRock’s (NYSE: BLK) iShares unit, the world’s largest issuer of exchange traded funds, announced that it is reducing fees on 24 of its sector and industry ETFs by one basis point.

Fees on iShares ETFs tend to fluctuate modestly as the funds gain or lose assets, indicating that the latest batch of slight expense reductions are the result of increased assets at the 24 funds.

The $14.2 billion iShares Select Dividend ETF (NYSEArca: DVY) saw its annual fee reduced to 0.39% from 0.4% while the other ETFs were to lowered to 0.45% per year from 0.46%, according to ETF.com, which originally reported the news of the fee cuts.

The following iShares sector ETFs now have reduced fees: iShares U.S. Basic Materials ETF (NYSEArca: IYM), iShares Dow Jones U. S. Consumer Goods Sector Index Fund (NYSEArca: IYK), iShares US Consumer Services ETF (NYSEArca: IYC), iShares U.S. Energy ETF (NYSEArca: IYE), iShares U.S. Utilities ETF (NYSEArca: IDU), iShares U.S. Telecommunications ETF (NYSEArca: IYZ), iShares U.S. Financial Services ETF (NYSEArca: IYG), iShares U.S. Healthcare ETF (NYSEArca: IYH), iShares U.S. Industrials ETF (NYSEArca: IYJ) and the iShares U.S. Technology ETF (NYSEArca: IYW).

The following iShares industry ETFs also had their fees pared: iShares Transportation Average ETF (NYSEArca: IYT), iShares U.S. Aerospace & Defense ETF (NYSEArca: ITA), iShares US Broker-Dealers ETF (NYSEArca: IAI), iShares U.S. Financials ETF (NYSEArca: IYF), iShares U.S. Healthcare Providers ETF (NYSEArca: IHF), iShares U.S. Home Construction ETF (NYSEArca: ITB), iShares US Insurance ETF (NYSEArca: IAK), iShares U.S. Medical Devices ETF (NYSEArca: IHI), iShares U.S. Oil & Gas Exploration & Production ETF (NYSEArca: IEO), iShares Dow Jones U.S. Oil Equipment Index ETF (NYSEArca: IEZ), iShares U.S. Pharmaceuticals ETF (NYSEArca: IHE), iShares Dow Jones US Real Estate Index Fund (NYSEArca: IYR) and the iShares U.S. Regional Banks ETF (NYSEArca: IAT).

Earlier this year, State Street Global Advisors, the sponsor of the largest U.S. sector ETFs, slightly lowered fees on its nine sector SPDR funds. Fidelity, still a new entrant to the ETF space, has the least expensive sector ETFs, all of which charge 0.12% per year. [State Street’s Quiet Fee Reduction]

ETF Trends editorial team contributed to this post. Tom Lydon’s clients own shares of DVY and IEO.

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