- December 10, 2023
- Posted by: legaleseblogger
- Category: Related News
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**State Street to Offer Europe’s Cheapest S&P 500 ETF**
On 1 November, the $5.5bn SPDR S&P 500 UCITS ETF (SPY5) will undergo a significant fee reduction, slashing its total expense ratio (TER) from 0.09% to 0.03%. This move positions SPY5 as the most cost-effective S&P 500 ETF available in the European market. This new TER undercuts the Invesco S&P 500 UCITS ETF (SPXS) and its 0.05% TER, making it the most competitive option for investors seeking exposure to the S&P 500 index.
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****** just grabbed a
That’s the third SPDR cut (that I noticed anyway; OP-linked source says it’s the 20th globally), after SPYI (MSCI ACWI IMI) earlier this year & SPYM (MSCI EM) last year. SPPW (MSCI World) was launched a few years ago at attractive fees, so SPDR’s UCITS lineup’s looking pretty good, except no accumulating version for the S&P 500.
TER + est. transaction costs for this will total 0.06% (assuming no change in est. TC, as with previous reductions). That’s better than 0.09% for iShares’ & Vanguard’s physical S&P 500 trackers (TER 0.07% + 0.02%). I guess the swappers (Invesco S&P 500 & iShares S&P 500 Swap), will probably maintain a small advantage while the withholding tax savings are possible, despite higher fees (incl. swap fee) counteracting them.
SPDR’s site displays a message:
>Effective on or about 27 October 2023, SPDR is expanding the range of ETFs in our securities lending program. To learn more, please visit our [securities lending resource page](https://www.ssga.com/ie/en_gb/institutional/etfs/resources/education/securities-lending).
This probably covers part of the fees.
State Street Global Advisors is, of course, a serious issuer. They created the first ETF. iShares ETFs use State Street Custodial Services (same parent) as custodian for the securities (has to be a distinct “third-party depositary” per UCITS regulations).
Hopefully blackrock will lower theirs too. I have the ishares acc one, 0,07% currently
is this a big difference?
Nice marketing for clueless retail, the American way. They will still underperform all synthetic S&P500 ETF of the market.
Sign on the wall for those who want to see it.
4k daily volume does not look promising
why does the KID datasheet still list 0,09% TER?