BOSTON (AP) — BlackRock Inc.'s iShares unit is reducing the investment fees charged at six of its largest exchange-traded funds as the biggest ETF provider expands a fee-cutting war that's benefiting cost-conscious investors.
The recent expense cuts by iShares, Vanguard, Charles Schwab and other ETF sponsors present a further challenge for traditional mutual funds, which are attracting new cash from investors at a far slower rate than ETFs.
BlackRock on Monday also announced that it is launching four new iShares ETFs and revamping some of its existing lineup with a goal of making ETFs more appealing to long-term, buy-and-hold investors.
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