VanEck Lowers Expense Ratio on VanEck Vectors Green Bond ETF (GRNB)
VanEck announced today that it has lowered the expense ratio on VanEck Vectors Green Bond ETF. Effective September 1, the expense cap for GRNB was reduced from 0.40% to 0.30%. GRNB is the first and only U.S.-listed ETF providing targeted exposure to the fast-growing green bond market. It seeks to track the S&P Green Bond Select Index, which is comprised of labeled green bonds that are issued to finance environmentally friendly projects, and includes bonds issued by supranational, government, and corporate issuers globally in multiple currencies. Additionally, bonds must be flagged as “green” by the Climate Bonds Initiative, an investor-focused non-profit organization that is working to promote large-scale investment in the low carbon economy.