FactSet’s Kashner: Many ETFs Are Raising Fees

ETFs are known for their rock-bottom fees. For years, expense ratios have gone nowhere but down. Is that finally coming to an end? In this episode of Exchange Traded Fridays, Elisabeth Kashner, director of exchange-traded fund research and analytics at FactSet, sits down with etf.com senior analyst Sumit Roy and etf.com wealth management editor Jeff Benjamin to discuss “extraordinary” fee increases as well as what she sees as the biggest ETF trends of 2023. 

Kashner says that more than 400 ETFs have hiked their fees this year.  

“We are seeing for the first time a significant number of fee hikes. That’s extraordinary. Some of them have to do with where firms think they have market power. Others may be more a last gasp… to squeeze more from [existing] investors.” 

From launches to closures to covered-call ETFs, Kashner dives deep into multiple industry trends.

Elisabeth Kashner is vice president, director of exchange-traded fund research and analytics at FactSet. In this role, she develops tools and methodologies for all aspects of ETF and mutual fund classification and analysis with a focus on costs, risks, trading issues and performance. Prior to this role, she served as director of research at etf.com and published extensively on the classification, efficacy and persistence of strategic beta strategies and robo-adviser portfolio exposures. Ms. Kashner earned a BA from Brown University and an MS in financial analysis from the University of San Francisco. She is a CFA charter holder.