BNY Mellon launches zero-fee ETFs

Fixed income and equity offering

BNY Mellon Investment Management has launched the first zero-fee ETFs, which will offer investors exposure to both fixed income and equities without fee waivers or other restrictions.

The BNY Mellon US Large Cap Core Equity ETF and the BNY Mellon Core Bond ETF will be offered to investors at a total expense ratio (TER) of 0.00% and come as part of a new suite of funds from the provider. First negative-fee ETF blasted as a 'gimmick' Benchmarked against Morningstar indices, the equity ETFs also include a small-cap (0.04% TER), mid-cap (0.04% TER), an international large-cap (0.04% TER) and an emerging markets large-cap fund (0.11% TER), while the bond ETFs will be benchmarked against Bloomberg Barclays indices and will include a short duration corporate bond fund (0....