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State Street Undercuts Vanguard

SSgA Funds plans to retool its S&P 500 index offering to lower its expenses below the 0.18% charged by the Vanguard 500 Index fund.

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A price war is breaking out among index funds, making a good thing for investors even better.

State Street Global Advisors joined the fray this week by declaring it plans to restructure its SSgA S&P 500 Index Fund (SVSPX) in a way that would lower its expense ratio below the most popular index offering from The Vanguard Group, the longtime low-cost leader of the mutual-fund industry.

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Dan Culloton does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.