In case you haven't heard (i.e. you've been on an island without your Blackberry for the past month), there's an ETF fee war being waged. And Chuck Jaffe says investors are can be the profiteers in this battle.

With Vanguard, iShares and Charles Schwab going back and forth on ETF fees, the MarketWatch columnist sees a few steps for investors to take advantage.

They include using ETF's instead of traditional indexed funds and focusing on the assets rather than the index builder.

Jaffe notes that this is the biggest way investors can take advantage of the dropping fees, as even Schwab's recent drastic cuts on it's US Large Cap fund save shareholders only about 40 cents on every thousand dollars in a fund for a year 

Edited by: Ben Geier


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