Toronto-based Vanguard Investments Canada Inc. announced Tuesday that it has lowered the management fees on more than half of its 21 Canadian exchange-traded funds (Vanguard ETFs).

This lowers the firm’s asset-weighted average management fee — already at an industry-leading low — from 0.19% to 0.14%.

“Our mission is to give investors in Canada and across the globe the best chance for investment success,” said Atul Tiwari, managing director of Vanguard Investments Canada Inc., in a release.

“Low costs are a critical element in the investing equation. We are lowering the cost and complexity of investing worldwide and are pleased to further reduce investment costs for Canadian investors.”

Management fees for Vanguard’s ETFs now start at 0.05%. New management expense ratios (MERs) will be recalculated at the end of the year, as per regulations.

Since establishing the first indexed mutual fund in the U.S. in 1976, The Vanguard Group, Inc., now manages more than US$3 trillion (USD) globally.

For a complete list of the new Vanguard ETF management fees, click here.