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State Street Ditches Russell Index to Sell Cheapest ETFs Yet

  • Boston-based asset manager launches low-fee suite of 15 funds
  • Large-cap, small-cap, total market funds track in-house index
Pedestrians carry umbrellas while passing in front of the New York Stock Exchange (NYSE) in New York, U.S., on Friday, May 5, 2017. U.S. stocks fluctuated with the dollar and Treasuries as a rebound in hiring added to optimism that the economy is on firm footing, boosting speculation the Federal Reserve will raise interest rates.
Photographer: Michael Nagle/Bloomberg
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Just when you thought passive investing couldn’t get any cheaper -- it did.

State Street Global Advisors slashed fees on 15 of their exchange-traded funds to as low as 3 basis points, according to a company statement on Monday. The ETFs are now the least expensive U.S. equity funds, along with one product from BlackRock Inc. and two from Charles Schwab Corp. that capture similar segments of the U.S. stock market.