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.
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