Schwab Slashes Expenses on Its ETFs
Schwab ETFs now feature lowest expense ratios in their respective Lipper categories
Charles Schwab has slashed the operating expense ratios (OERs) for each of its 15 Schwab ETFs™, dramatically elevating its position in the ETF industry with the lowest OERs in their respective Lipper categories.
Schwab is an industry leader in serving ETF investors, with $142 billion in client ETF assets as of August 31, 2012. The company launched its own Schwab ETFs in November 2009, becoming the first to introduce commission-free online trading of ETFs in client accounts. Since then, Schwab ETFs have grown to over $7.2 billion in assets under management as of August 31, 2012. Schwab has a 21-year history of directly managing passive index products, with $34.8 billion in assets under management in these investments as of August 31, 2012.
According to CEO Walt Bettinger, “In this period of uncertainty in the markets, the expenses investors pay are the only sure thing. As a long-time advocate for investors, we want to offer our clients a truly low-cost way to build a diversified portfolio.”
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.