State Street Undercuts BlackRock, Vanguard With Cheapest S&P ETF
- SPLG now charges just 2 basis points, a hair below IVV and VOO
- ‘Even one basis point can move the needle’ on flows: Balchunas
The State Street Corp. Global Advisors Global Advisors building in Boston, Massachusetts.
Photographer: Scott Eisen/BloombergThis article is for subscribers only.
State Street Global Advisors is challenging larger exchange-traded fund rivals BlackRock Inc. and Vanguard Group Inc. with its latest round of fee cuts.
The asset manager announced Tuesday that it lowered expense ratios on ten ETFs with $78 billion in assets, including the $20 billion SPDR Portfolio S&P 500 ETF (ticker SPLG), according to a press release. SPLG’s new fee of just two basis points clocks in a hair below the three basis points charged by the $357 billion iShares Core S&P 500 ETF (IVV) and the $340 billion Vanguard S&P 500 ETF (VOO).