Schwab Launches Additional Low-Cost ETFs
Charles Schwab Investment Management, Inc., has launched two more of its exchange-traded funds (ETFs) with low operating expense ratios and commission-free online trading in Schwab accounts.
The Schwab U.S. Large-Cap Growth ETF (SCHG) and the Schwab U.S. Large-Cap Value ETF (SCHV) began trading today. Last month, Schwab launched other low-cost ETFs: U.S. Broad Market (SCHB), U.S. Large-Cap (SCHX), U.S. Small-Cap (SCHA), and International Equity (SCHF) (see “Schwab Unveils 8 ETFs”).
The new ETFs have expense ratios of 0.15%, and like the first four funds, can be bought and sold commission-free online in Schwab accounts.
Commission-free online trading of Schwab ETFs is available to individual investors at Schwab, to independent investment advisers who use Schwab’s custodial services, and through Schwab retirement accounts that permit trading of ETFs.
Two additional Schwab ETFs, covering emerging markets and international small-cap equity, are expected to be launched in January 2010, the company said.