The fund behemoth Vanguard, with $1.7 trillion in assets under management, announced last week that it is cutting the expense ratios of 13 of its most popular ETFs.

Vanguard logoThe announcement, seen as welcome news for all ETF investors due to Vanguard’s market share in the ETF space (No. 3), included a 17% cut to its Vanguard S&P 500 ETF and a 9% cut to its Vanguard Total Bond Market ETF.

The company said the announcement reflected either growth in assets or a drop in management costs of the funds.

 The 11 other expense ratio changes, which all became effective April 26, are:

  • Vanguard Extended Market ETF
  • Vanguard Growth ETF
  • Vanguard Large-Cap ETF
  • Vanguard Mid-Cap Growth ETF
  • Vanguard Mid-Cap ETF
  • Vanguard Mid-Cap Value ETF
  • Vanguard Small-Cap Growth ETF
  • Vanguard Small-Cap ETF
  • Vanguard Small-Cap Value ETF
  • Vanguard Total Stock Market ETF
  • Vanguard Value ETF

Most of Vanguard’s cuts were by 0.01 or 0.02 percentage point. The expense ratio on the Vanguard S&P 500 Index ETF, for example, dropped to 0.05% from 0.06%. Expenses on the Total Bond Market Index ETF dropped to 0.10% from 0.11%, bringing it in line with Schwab’s U.S. Aggregate Bond ETF, which tracks the same index and debuted last year, according to The Wall Street Journal’s Joe Light.

“This is one battle retail investors should relish,” he wrote Friday.

This is the second announcement of this type form Vanguard in as many months. In early March, Vanguard announced expense ratio reductions that included bringing the Vanguard FTSE All World ex-US ETF from 0.22% to 0.18%, and the Vanguard High Dividend Yield ETF from 0.18% to 0.13%, among many other changes.