On Monday, Vanguard Group (VOO), one of the world’s largest ETF issuers, announced it is reducing fees on 168 mutual funds and ETF-related share classes, potentially saving investors over $350 million this year.
Yahoo Finance’s Senior Columnist Kerry Hannon joins Wealth host Brad Smith to discuss the development, highlighting that the significant 20% fee reduction on operating costs brings Vanguard’s average expense ratio to 0.07% — far below the industry’s 0.44%.
Lower fees are crucial for maximizing long-term investment returns, as even small differences can have significant impacts over time. Vanguard’s move sends a message about prioritizing low costs for investors.
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