Today, Vanguard will launch a new S&P 500 ETF under the ticker VOO. This is will be the third ETF to track the S&P 500 (the other two are SPY and IVV). Vanguard is touting this ETF as a lower cost alternative to the others (they have only a 6 bp annual fee compared to 9bp for the others).
“Three basis points is a big deal in this segment,” Vanguard’s Rick Genoni, head of ETF development, told IndexUniverse.com. “We already have clients looking to switch to this product; we’ve had interest in this product for some time, but for legal
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