Charles Schwab has launched its first proprietary exchange-traded funds: eight Schwab-managed ETFs with low operating expense ratios and commission-free online trading for clients.

“Schwab has been an innovator on behalf of investors and savers for decades and has endeavored to help them become financially fit. Today, we continue this tradition by offering investors an exceptional value through low cost access to domestic and global equity markets,” says Walt Bettinger (pictured), Schwab chief executive officer.

“Our low cost ETFs can be purchased and sold through Schwab.com commission free. This means that investors of all kinds, and especially those who wish to dollar cost average modest sums, can do so in a cost-effective way. We believe there simply isn’t an easier way to buy and sell ETFs than what we’re making available to all Schwab clients.”

Starting 3 November, Charles Schwab Investment Management will launch its first four ETFs – Schwab US Broad Market ETF, Schwab US Large-Cap ETF, Schwab US Small-Cap ETF and Schwab International Equity ETF.

In December, CSIM will offer four additional ETFs – Schwab US Large-Cap Growth ETF, Schwab US Large-Cap Value ETF, Schwab International Small-Cap Equity ETF and Schwab Emerging Markets Equity ETF.

The ETFs can be bought and sold without commissions in Schwab accounts if purchased online, regardless of the number of shares traded.

They are designed to be core holdings in a diversified portfolio and can be purchased in blocks as small as one share per trade.

Commission-free online trading of Schwab ETFs will be available to individual investors at Schwab, to the more than 6,000 independent investment adviser firms who use Schwab’s custodial services through Schwab Advisor Services and through Schwab retirement accounts that permit trading of ETFs. The Schwab ETFs will be listed on NYSE Arca, and can also be traded on other exchanges.