ETF provider iShares is launching a new series of funds, as well as reducing the fees of eight existing funds.
The price drops follow a similar move by BMO over the past month. The funds affected include six U.S. ETFs and two Canadian ETFs. They are as follows:
- IVV (iShares Core S&P 500 ETF)
- IJH (iShares Core S&P Mid-Cap ETF)
- IJR (iShares Core S&P Small-Cap ETF)
- ITOT (iShares Core S&P Total U.S. Stock Market)
- AGG (iShares Core Total U.S. Bond Market)
- ILTB (iShares Core Long-Term U.S. Bond)
- XSP (iShares S&P 500 Index Fund CAD-Hedged)
- XWD (iShares MSCI World Index)
In particular, the XSP management fee will be reduced from 24bps to 22bps as a result of fee reduction on its underlying fund (IVV), and the fee for XWD will be reduced from 45bps to 44bps.
The new core series is a suite of ten U.S. listed ETFs intended for long-term, buy and hold investors. It’s made up of four broad U.S. equity funds, three international equity funds that track MSCI Investable Market Indices, and three U.S. fixed income funds.