BlackRock caps fees on $10bn high yield US credit ETF

Total management fees stand at 0.22%

BlackRock has capped fees on its $10bn iShares Broad USD High Yield Corporate Bond ETF, it said in a filing on Tuesday (28 November).

BlackRock Fund Advisors, the investment adviser to the fund, has contractually agreed to waive a portion of its management fee so the fund's total annual fund operating expenses after the fee waiver will not exceed 0.08% through 28 February 2025. State Street Global Advisors slashes fees on S&P 500 ETFs The contractual waiver may be terminated prior to that date, the firm said, but only upon written agreement.  According to the ETF's prospectus, the previous total annual operating expense did not surpass 15bps. Total management fees currently stand at 22bps. The filing said that...