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]

Van Eck is the latest firm to cut an ETF’s fee. The largest providers have been slashing expense ratios on their products to protect market share and stay competitive on cost. [BlackRock Fires Latest Salvo in ETF Fee War]

Global X Super Dividend ETF (NYSEArca: SDIV) lowered its expense ratio to 0.58% from 1.14% this week.

Market Vectors Emerging Markets Local Currency ETF

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