As more money managers jump into the ETF business, financial advisors and their clients are being offered the bargain of a lifetime: Funds managed by established managers with rock-bottom fees.

The recently launched PIMCO Total Return ETF (BOND) charges annual expenses of just 0.55 percent and is managed by highly regarded Bill Gross, the co-chief investment officer and founder of Pacific Investment Management Co. By comparison, the $252 billion PIMCO Total Return Fund (PTTAX), which is also managed by Gross, charges just 0.90 percent for the waive load shares. For cost conscious investors, going with BOND versus PTTAX adds up to almost 40 percent savings in annual fees.  

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