Looks like the ETF fee war is waging on.
Invesco PowerShares Capital Management LLC lowered total expense ratios for six PowerShares ETF portfolios as of Nov. 21.
Four fundamentals weighted ETFs saw their expense ratios lowered from the 75-85-basis-point range to the mid-40-basis-point range. PXH FTSE RAFI Emerging Markets Portfolio, PAF FTSE RAFI Asia Pacific ex-Japan Portfolio and FTSE RAFI Developed Markets ex-U.S. Small-Mid PDN Portfolio were lowered to 49 basis points, while PXF FTSE RAFI Developed Markets ex-U.S. Portfolio, was lowered to 45 basis points.
Meanwhile, expense ratios for factor driven ETFs IDHQ S&P International Developed High Quality Portfolio and SPHQ S&P 500 High Quality Portfolio were lowered to 45 and 29 basis points, respectively.
"To broaden their exposure, investors will often use multiple ETFs within a specific fund category — such as our Fundamentals Weighted and Factor-Driven categories," said John Feyerer, head of product strategy & research, in a press statement. "Consistent with this finding, we are lowering fees on our international Fundamentals Weighted and High Quality Factor-Driven ETFs."
All On Wall Street articles are archived after 7 days. REGISTER NOW for unlimited access to all recently archived articles, as well as thousands of searchable stories. Registered Members also gain access to exclusive industry white paper downloads, web seminars, blog discussions, the iPad App, CE Exams, and conference discounts. Qualified members may also choose to receive our free monthly magazine and any of our daily or weekly e-newsletters covering the latest breaking news, opinions from industry leaders, developing trends and growth strategies.