BlackRock Vies With State Street to Tap Currency-Hedged ETF Boom
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The world’s biggest money managers are staking a claim in the surging market for stock and bond ETFs that strip out currency risk.
Industry giants BlackRock Inc. and State Street Corp. are rolling out hedged exchange-traded funds at an unprecedented clip after smaller rivals lured the bulk of $41 billion of inflows this year. BlackRock started 11 of the funds this month, including ETFs protecting against moves in the Australian dollar and Mexican peso, while State Street opened a euro-focused version in June.