Schwab Shares Might Be Moving on News of Commission-Free ETF Launch
Charles Schwab (NASDAQ: SCHW) announced today the launch of Schwab ETF OneSource™ — a new ETF platform that gives investors and advisors access to the most commission-free ETFs anywhere in the industry^1.
Beginning today, Schwab clients can buy and sell 105 ETFs with $0 online trade commissions. The offering spans major asset classes, with funds from leading providers, including State Street SPDR® ETFs, Guggenheim Investments, PowerShares, ETF Securities, United States Commodity Funds, and Charles Schwab Investment Management.
“Just as Schwab Mutual Fund OneSource™ changed the landscape for investors and advisors by providing convenient, affordable access to leading mutual funds when Chuck Schwab introduced it twenty years ago, we believe Schwab ETF OneSource will deliver enormous benefit and change the way our clients buy and sell ETFs,” said Walt Bettinger, CEO of Charles Schwab.
Bettinger emphasized that Schwab clients who buy ETFs online through Schwab ETF OneSource will pay exactly the same operating expense ratios (OERs) they would elsewhere, but without paying a commission.
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