(Bloomberg) -- BlackRock, the world’s largest money manager, cut fees on five bond exchange-traded funds, joining rivals in lowering costs to attract more investors.

BlackRock cut fees on iShares J.P. Morgan USD Emerging Markets Bond ETF, iShares Emerging Markets Local Currency Bond ETF, iShares Emerging Markets High Yield Bond ETF, iShares Emerging Markets Corporate Bond ETF and iShares B-Ca Rated Corporate Bond ETF, the New York-based firm said in a statement.

BlackRock’s two biggest rivals, State Street and Vanguard, last month reduced the fees they charge on ETFs, vehicles that invest in baskets of securities and trade on an exchange like stocks. State Street reduced costs on 41 funds and Vanguard slashed prices on six offerings as providers seek to gain share in an increasingly crowded market.

In the U.S., ETFs had about $2 trillion in assets at the end of January, according to BlackRock. The three biggest providers accounted for 81% of the total market.

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