VanEck, a global investment manager with a focus on providing innovative investment strategies, is pleased to announce a reduction in the management fees for two of its fixed income exchange-traded funds (ETFs), effective immediately.
The management fee for the VanEck Intermediate Muni ETF (ITM) has been lowered from 0.24% to 0.18%, while the management fee for the VanEck Fallen Angel High Yield Bond ETF (ANGL) has been reduced from 0.35% to 0.25%. These adjustments reflect VanEck’s commitment to offering competitive pricing and enhancing value for investors.
“As part of our regular review of our pricing strategy, we are delighted to lower the management fees for these ETFs,” said Ed Lopez, Head of Product at VanEck. “Lower fees add to the value proposition of these ETFs, along with efficient access to targeted opportunities in the fixed income space that we believe are compelling right now within an income-oriented portfolio.”
ITM seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the ICE Intermediate AMT-Free Broad National Municipal Index, which is intended to track the overall performance of the U.S. dollar denominated intermediate-term tax-exempt bond market. ANGL seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the ICE US Fallen Angel High Yield 10% Constrained Index, which is comprised of below investment grade corporate bonds denominated in U.S. dollars, issued in the U.S. domestic market and that were rated investment grade at the time of issuance.
