Liquid Alternatives: BNY Mellon Launches Five New ETFs at Low or Zero Fees
Counting the three plain vanilla ETFs launched earlier this week, the launch brings BNY Mellon’s ETF tally up to eight.
BNY Mellon has a 30-year track record in indexation and industry leadership in ETF sub-advisory services. Its index team currently manages $340bn for institutional and retail clients globally. Further, as of April 16, it had $1.8 trillion in AUM. On Friday it rolled out five new ETFs listed on the NYSEARCA exchange. (ETF.com)
The five new ETFs
These new ETFs are:
Tracking plain vanilla Morningstar indices
- International Equity ETF (NYSEARCA: BKIE), expense ratio of 0.04%
- Emerging Markets Equity ETF (NYSEARCA: BKEM), expense ratio of 0.11%
Tracking Bloomberg Barclays indexes
- Short Duration Corporate Bond ETF (NYSEARCA: BKSB), expense ratio of 0.06%
- High Yield Beta ETF (NYSEARCA: BKHY), expense ratio of 0.22%
- Core Bond ETF (NYSEARCA: BKAG), expense ratio of 0.00%
Among fixed-income ETFs, the BNY Mellon Core Bond ETF (NYSEARCA: BKAG) is currently the cheapest with its zero expense ratio.
However, earlier, the asset manager launched its US Large Cap Core Equity ETF (NYSEARCA: BKLC) also with zero charges.
Stephanie Pierce, CEO of BNY Mellon Investment Management’s ETF and Index Business
On selection of the strategies for the new funds, Pierce said to ETF Trends: “These eight U.S.-listed ETFs are designed to cover most of the core exposures in a typical strategic asset allocation plan and to complement the existing investment capabilities from our investment firms.”
On the two zero-fee ETFs she said: “The BNY Mellon US Large Cap Core Equity and Core Bond ETFs will mark the first time zero-fee ETFs are available in the largest equity and fixed income categories in the US ETF market from a leading financial institution. These are being offered at zero fees to our clients with no waivers, no limitations, and no restrictions. With our ETFs, clients can build a 60/40 balanced portfolio and gain the benefits that lower expenses can have on their long-term returns.”
Related Story: Liquid Alternatives: ETFs Cushioned an Insane Market
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