iShares [see profile
] kicked off the new year with a price cut. The firm slashed expense ratios on 34 of its ETFs effective January 1, making it
the first industry player to do so this year,
Morningstar's Robert Goldsborough.
The reductions range from 1 to 5 basis points and impact only ETFs that invest in companies that are based abroad.
iShares said management-fee breakpoints and foreign taxes on the funds led to the price reductions.
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