State Street Global Advisors (SSGA) has continued its fee offensive by cutting the expense ratio on its euro government bond ETF by a third.
Effective 1 November, the $1.2bn SPDR Bloomberg Euro Government Bond UCITS ETF (SYBB) will see its total expense ratio (TER) slashed from 0.15% to 0.10%.
The move will position SYBB as Europe’s sixth lowest-fee ETF capturing euro sovereign debt.
Launching in 2011, the ETF tracks the Bloomberg Euro Treasury Bond index to offer market cap-weighted exposure to 446 eurozone government bonds with an average maturity of 8.64 years and yield to maturity of 3.52%.
Changes to SYBB’s TER coincide with fee cuts to three SSGA S&P 500 ETFs.
The SPDR S&P 500 UCITS ETF (SPY5) will see its TER drop by two-thirds – from 0.09% to 0.03% – to become the lowest-fee UCITS ETF.
Elsewhere, the SPDR S&P 500 ESG Leaders UCITS ETF (SPPY) will also see its TER drop to 0.03% – down from 0.10% - while the SPDR S&P 500 EUR Hdg UCITS ETF (SPPE) sees its fee cut from 0.12% to 0.05%.
All four of the ETFs set to undergo changes to their fee structure are included in the list of 67 Europe-listed SSGA ETFs set to begin lending out their underlying securities from 27 October.
