Calling the rush by many to cut ETF fees nearly to cost "stupidity," BlackRock (BLK) CEO Fink...

|By:, SA News Editor

Calling the rush by many to cut ETF fees nearly to cost "stupidity," BlackRock (BLK) CEO Fink tells conference call listeners bid/ask spreads and tracking error must also be considered when calculating fund costs (an area he clearly feels iShares have an advantage). "Institutions by and large want to use the MSCI index," he says, suggesting Vanguard's recent move to dump it for many of its ETPs is forcing flows to BlackRock.