Liquid Alternatives: BNY Mellon Launches Five New ETFs at Low or Zero Fees

April 28, 2020 | Liquid Alternatives, News
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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:

BNY Mellon-

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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