Products January 14, 2010
Charles Schwab Launches Two ETFs
Charles Schwab Investment Management, Inc. (CSIM), has launched two new
exchange-traded funds (ETFs) focused on emerging markets and
international small-cap equities.
Reported by Rebecca Moore
The Schwab Emerging Markets Equity ETF (SCHE) and the Schwab International Small-Cap Equity ETF (SCHC) began trading on January 14. A press release said the funds feature low operating expense ratios (0.35%) and commission-free online trading in Schwab accounts.
The latest Schwab ETFs are the seventh and eighth in a series of low-cost ETFs Schwab announced in November (see “New Schwab ETFs Offer Low Operating Expense Ratios”).
In addition, Schwab announced that the Board of Trustees of the Schwab ETF Trust approved the termination of the Distribution and Shareholder Services (12b-1) Plan for all proprietary ETFs. This change was filed with the SEC on January 13.
“We’ve eliminated our Rule 12b-1 plan to simplify our pricing and remove the potential additional costs,” said Peter Crawford, senior vice president at Charles Schwab & Co., Inc., in the press release.
The latest Schwab ETFs are the seventh and eighth in a series of low-cost ETFs Schwab announced in November (see “New Schwab ETFs Offer Low Operating Expense Ratios”).
In addition, Schwab announced that the Board of Trustees of the Schwab ETF Trust approved the termination of the Distribution and Shareholder Services (12b-1) Plan for all proprietary ETFs. This change was filed with the SEC on January 13.
“We’ve eliminated our Rule 12b-1 plan to simplify our pricing and remove the potential additional costs,” said Peter Crawford, senior vice president at Charles Schwab & Co., Inc., in the press release.