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State Street Cuts ETF Fees, Amping Up Wall Street’s Race to Zero

  • Two of the biggest ETF issuers reduce fees on large funds
  • State Street is losing market share to BlackRock, Vanguard

Photographer: Manusapon Kasosod/Moment/Getty Images

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The race to the bottom continues as two of the largest ETF issuers are slicing what investors pay in the $6 trillion industry’s battle to manage the most cash.

Just a day after BlackRock Inc. cut fees on $7.6 billion of its style exchange-traded funds, competitor State Street Global Advisors slashed them on two of its bond funds.