DWS has joined the low-cost exchange traded fund (ETF) arms race with the launch of a Europe ex-UK tracker charging an annual all-in fee of 0.09%
The firm claims the cost is highly competitive, with similar trackers such as iShares, Source, Vanguard and Invesco charging between 0.12% and 0.4%.
The Xtrackers S&P Europe ex-UK targets large and mid-cap exposure across developed markets in Europe with the underlying index comprised of 379 companies, the company said.
The group is also launching two more thematic ETFs to track big data and AI and well future mobility indices, although pricing details are not yet available.
Head of ETF product development Michael Mohr said: 'We see demand for an asset allocation tool for Europe ex-UK equity exposure expanding, and with our new ETF having a notably low annual all-in fee versus competitor products, we expect to attract a significant number of investors.'
The new ETF has listed on the London Stock Exchange and has been added to the Xtrackers Core ETF range.