Many exchange traded funds that can be considered highly focused or niche products sport annual fees that are higher than their plain vanilla counterparts. At least the PureFunds ISE Cyber Security ETF (NYSEArca: HACK) is doing something about that.
HACK’s annual fee is now 0.6%, down from 0.75%. That new fee went into effect on May 1st.
“Since May 1, there have been net positive flows of approximately $160 mm into HACK,” said ETF Managers Group (ETFMG) in a statement. “The net flows over this period constitute around 42% of the $376.8 mm net positive flows into the Fund this year. HACK’s assets under management as of 06/09/2017 are $1,110,056,395.”