E*TRADE Adds Almost 50 ETFs To Commission-Free Plan
E*TRADE Financial Corp. (NASDAQ:ETFC) said Wednesday it added 46 exchange traded funds to commission-free platform.
With the latest additions, E*TRADE now offers more than 250 ETFs on a commission-free basis. The 46 newly added funds come from six issuers: Direxion, iShares, Janus Henderson, NuShares, Reality Shares and Vanguard.
With more and more advisers and investors embracing ETFs, brokerage firms are getting on the act, offering significant amounts of ETFs without commissions. E*Trade and rivals such as Fidelity and Charles Schwab Corp. (NASDAQ:SCHW) have been expanding their commission-free ETF plans to attract new clients.
Earlier this year, Firstrade Securities Inc. said it would offer more than 700 ETFs on a commission-free basis, by far the largest such platform in the domestic brokerage business.
Why It's Important
“These additions can fill a tactical void for a multitude of strategies—from tracking broad indexes to seeking higher returns to defending against changing market conditions to pursuing factor-based sector exposure—while providing commission-free access to some of the most active, well-known ETFs available today,” said E*TRADE Vice President Rich Messina in a statement.
Among the 46 additions to the E*TRADE commission-free suite are 32 Vanguard funds, including the Vanguard S&P 500 ETF (NYSE:VOO), the Vanguard Dividend Appreciation ETF (NYSE:VIG) and 10 of the issuer's popular sector ETFs.
Three iShares funds were also added to the E*TRADE platform. iShares and Vanguard are the two largest U.S. ETF sponsors.
Other well-known products now available with no commissions on E*TRADE include the Direxion Nasdaq-100 Equal Weighted Index Shares (NYSE:QQQE), Reality Shares Nasdaq NexGen Economy ETF (NASDAQ:BLCN) and the Vanguard FTSE Developed Markets ETF (NYSE:VEA).
Disclosure: The author owns shares of VEA.
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