Asset Management

BlackRock cuts fees on its biggest ETF to match Vanguard

Reduction is a sign of an escalating fight between the two investment firms for ETF market share

BlackRock cut fees on its largest exchange traded fund, in an attempt to punch back against an increasingly formidable foe, Vanguard Group.

The New York investment giant disclosed it cut the price investors pay for an ETF that tracks the S&P 500 to $3 on every $10,000 invested, from $4. The price of BlackRock’s fund now matches Vanguard’s version.

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