State Street Global Advisors slashes fees on S&P 500 ETFs

investmentweek.co.uk:

Following these changes, the firm said that its SPDR range will offer the lowest cost physically replicated S&P 500 ETFs domiciled in Europe.

Effective from 1 November, the total expense ratio (TER) of the SPDR S&P 500 UCITS ETF will be lowered to 3bps from 9bps, the SPDR S&P 500 EUR Hdg UCITS ETF to 5bps from 12bps and the SPDR S&P 500 ESG Leaders UCITS ETF to 3bps from 10bps.

Following these changes, the firm said that its SPDR range will offer the lowest cost physically replicated S&P 500 ETFs domiciled in Europe.

State Street Global Advisors shutters two ETFs due to insufficient NAV

«These changes are significant for our professional investor base,» said Matteo Andreetto, head of SPDR EMEA business at State Street Global Advisors. 

«For 30 years we have been leading the way in S&P 500 exposures, and this is the latest example of our work to make these products even more accessible and affordable without compromising on quality.»

According to State Street, US equities account for over 60% of global equity indices and have grown in importance among European investors year-on-year following the Global Financial Crisis. 

In 2018, the total assets in US Equity ETFs domiciled in Europe surpassed those of European Equity ETFs, it said. On average, investors using European domiciled ETFs have invested close to $15bn a year in US equity ETFs over the last decade.

JP Morgan AM adds two Article 9 ETFs to $7bn REI equity ETF platform

«30 years ago, together with the American Stock Exchange and S&P DJI, SPDR launched the first US listed ETF,» added Andreetto. «The fund, designed to track the S&P 500 Index, remains the largest ETF in the world. It is fitting that State Street is continuing this tradition of innovation.»

The