Mar 22nd, 2023 | By | Category: Equities

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State Street Global Advisors has cut the fee charged on the $500 million SPDR MSCI ACWI IMI UCITS ETF, making the fund the cheapest in Europe to track the investable-market-index version of the foremost world equity index, the MSCI ACWI.

SSGA slashes fee of MSCI ACWI ETF

The ETF is now the cheapest in Europe to track the flagship MSCI ACWI Index.

Effective 3 April 2023, the fund will reduce its expense ratio from 0.40% to 0.17%, leading to an annual saving of $1.15m for the ETF’s current investors.

The underlying MSCI ACWI IMI Index provides exposure to large, mid, and small-cap equities listed across 23 developed markets and 24 emerging markets globally.

With 9,126 constituents, the comprehensive index covers approximately 99% of the global equity investment opportunity set.

The fund is listed on London Stock Exchange in US dollars (IMID LN) as well as on Deutsche Börse Xetra (SPYI GY), Euronext Paris (IMIE FP), and Borsa Italiana (IMIE IM) in euros.

Following the fee cut, the ETF will be three basis points cheaper than the $7.0 billion iShares MSCI ACWI UCITS ETF (ISAC LN), and eight basis points cheaper than DWS’s socially responsible global equity ETF based on the MSCI ACWI, the $1.7bn Xtrackers MSCI AC World ESG Screened UCITS ETF (XMAY GY).

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