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Commodities ETFs Are Battling It Out in the Quietest Fee War Ever

A worker supervises the flow of hot liquid metal as it flows from the blast furnace during a smelting in Novokuznetsk, Russia.

A worker supervises the flow of hot liquid metal as it flows from the blast furnace during a smelting in Novokuznetsk, Russia.

Photographer: Andrey Rudakov/Bloomberg

There's a fee war playing out in commodities ETFs, pitting the world's biggest money manager against a plucky upstart and the firm that invented the gold-backed fund.

But are investors paying attention?