Van Eck on Thursday said it has lowered the expense cap for Market Vectors Emerging Markets Local Currency ETF (NYSEArca: EMLC) to 0.47% from 0.49%.

“We’re pleased to lower EMLC’s expense cap, which already had the lowest net expense ratio among the emerging market local currency and dollar-denominated ETFs in the marketplace,” said Adam Phillips, chief operating officer of Market Vectors ETFs, in a press release. “Wherever possible, we look to reduce fees and expenses and pass those savings along to investors.”

The ETF holds about $791 million in assets. [Finding the Best ETFs for Emerging Market Bonds]

More investors are looking overseas for yield, and emerging market bond ETFs have been a popular asset class. [Why Emerging Market Corporate Bond ETFs are Hot]

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