Van Eck Pares Expenses On Indonesia ETF

Van Eck Global, the fifth-largest U.S. ETF issuer and parent company of Market Vectors, said today it is lowering the expense ratio on the Market Vectors Indonesia Index ETF IDX to 0.57% from 0.6%. The change is effective today. That marks the second time Van Eck has lowered the fees on the Market Vectors Indonesia Index ETF. In January 2011, Van Eck lowered the fees on IDX to 0.6% from 0.68%. IDX debuted in January 2009 and is the oldest and largest ETF tracking Southeast Asia's largest economy. The fund currently has almost $525 million in assets under management. "Indonesia's growth over the past several years has been impressive, and we believe the outlook remains bright, driven in part by rising domestic consumption and higher levels of disposable income," said Ed Lopez, marketing director for Market Vectors ETFs, in a statement. "By lowering the expense cap for IDX, we have made investing in the Indonesian growth story even more compelling." The move to lower its fees to 0.57% means IDX is now cheaper than its primary rival, the iShares MSCI Indonesia Investable Market Index Fund EIDO. The iShares iShares MSCI Indonesia Investable Market Index Fund charges 0.59%. That fund debuted in May 2010 and now has $270.3 million in AUM. Market Vectors also issues the newly minted Market Vectors Indonesia Small-Cap ETF IDXJ. The Market Vectors Indonesia Small-Cap ETF debuted on March 20 and has an expense ratio of 0.61%. IDXJ has $4.2 million in AUM. For more on Indonesia ETFs, please click HERE.