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Rating:Schwab Grows its ETF Lineup Not Rated 0.0 Email Routing List Email & Route  Print Print
Friday, December 11, 2009

Schwab Grows its ETF Lineup

Reported by Daniel Tovrov

Charles Schwab is following up on its November ETF launch with two more low-cost ETFs. The Schwab U.S. Large-Cap Growth ETF and the Schwab U.S. Large-Cap Value ETF, which have an expense ratio of 15 basis points, both began trading Friday.

Peter Crawford
Schwab
SVP
The first four Schwab ETFs, the U.S. Broad Market, U.S. Large-Cap, U.S. Small-Cap and International Equity funds, were launched November 3, and carry expenses between 8 and 35 bps.

All Schwab-managed ETFs can be bought and sold on Schwab.com, commission-free.

Additionally, Schwab intends to unveil two more ETFs, covering emerging markets and international small-cap equity, in January 2010.


Company Press Release Charles Schwab Investment Management, Inc. (CSIM) has launched another two exchange-traded funds 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 on Dec. 11. The first four Schwab ETFs -- U.S. Broad Market (SCHB), U.S. Large-Cap (SCHX), U.S. Small-Cap (SCHA) and International Equity (SCHF) were launched Nov. 3.

As of Dec. 9, CSIM had $209 million in assets under management in the first four Schwab ETFs, and trading volume across the four ETFs has averaged approximately 555,000 shares per day since inception.

Two additional Schwab ETFs, covering emerging markets and international small-cap equity, are expected to be launched in January 2010.

"Individual investors and investment advisors count on Schwab for products which provide exceptional value, and our clients have indicated an interest in ETFs as a way to invest in and trade entire segments of the market," said Peter Crawford, senior vice president at Charles Schwab & Co., Inc. "These two new ETFs allow investors to tilt their portfolios based on whichever style, growth or value, they think will lead the market in the future."

The new Schwab ETFs have some of the lowest expense ratios in the market -- the two new funds each have an expense ratio of 0.15 percent. Like the first four funds, the two new Schwab-managed ETFs can be bought and sold commission-free online in Schwab accounts.

"Investors are attracted to ETFs because they provide a liquid, low-cost and more tax-efficient way to trade segments of the market," Crawford said. "Commission-free online trades make the Schwab ETFs even more cost-effective, especially for investors who wish to dollar-cost average."

Commission-free online trading of Schwab ETFs is available to individual investors at Schwab, to the more than 6,000 independent investment advisors who use Schwab's custodial services and through Schwab retirement accounts that permit trading of ETFs.

About Charles Schwab Investment Management

Founded in 1989, Charles Schwab Investment Management, Inc., a subsidiary of The Charles Schwab Corporation, is one of the nation's largest asset management companies with approximately $210 billion in assets under management as of Sept. 30, 2009. It is among the country's largest money market fund managers and is the third-largest provider of retail index funds. In addition to managing Schwab Funds, CSIM is investment adviser for the institutional-style, sub-advised Laudus Fund family. CSIM currently manages 76 mutual funds, including 33 actively-managed funds, in addition to six ETFs and four separate account model portfolios.
 

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