ProShares reduces fees for S&P 500 Ex-Sector ETFs

ETF issuer ProShares has lowered the net expense ratio for its suite of S&P 500 Ex-Sector ETFs by 67 per cent – from 27 to nine basis points. 

The firm writes that the Ex-Sector ETFs allow investors to acquire the S&P 500 without an unwanted economic sector, including energy, financials, technology and health care.

“With this fee reduction, we wanted to eliminate a possible obstacle for investors to access a strategy that could help them build better portfolios,” says ProShares CEO Michael L Sapir. “ProShares Ex-Sector ETFs provide a cost-effective way to tailor the S&P 500 index to avoid overconcentration in a certain sector or a sector expected to underperform.”