Van Eck announced it cut expense ratios for five of its Market Vectors exchange traded funds (ETFs). The changes are effective as of May 1 and are guaranteed for one year.

The total net operating costs of these funds will in turn be reduced. The lower costs will also put the provider in a better position to compete with the latest round of ETF price wars seen throughout the industry.

The five ETFs affected and their new expense ratios are:

  • Market Vectors Africa ETF (NYSEArca: AFK) from 0.83% to 0.78%
  • Market Vectors Brazil Small-Cap ETF (NYSEArca: BRF) from 0.65% to 0.62%
  • Market Vectors Junior Gold Miners ETF (NYSEArca: GDXJ) from 0.59% to 0.56%
  • Market Vectors RVE Hard Assets Producers ETF (NYSEArca: HAP) from 0.65% to 0.59%
  • Market Vectors Uranium and Nuclear Energy ETF (NYSEArca: NLR) from 0.62% to 0.60% [Vanguard Wins This Round in the ETF Price War.]

Tisha Guerrero contributed to this article.

The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.