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Invesco Fires Next Shot in Fee War With Funds Charging Nothing

  • Biotech, semiconductor ETFs will have no fees until Dec. 17
  • Issuers cut costs in race for industry’s $6.4 trillion assets
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Invesco Ltd. launched two new exchange-traded funds Friday with management costs waived until the end of the year, further escalating the ETF industry’s long-running fee war.

The Invesco Nasdaq Biotechnology ETF (IBBQ) and Invesco PHLX Semiconductor ETF (SOXQ) will effectively cost nothing until Dec. 17, after which each will carry an expense ratio of 19 basis points, according to a press release from the firm.