Charles Schwab has launched Schwab ETF OneSource, an exchange-traded fund platform that gives investors and advisers access to the most commission-free ETFs. Schwab clients can now buy and sell 105 ETFs with USD0 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 20 years ago, we believe Schwab ETF OneSource will deliver enormous benefit and change the way our clients buy and sell ETFs,” says Walt Bettinger (pictured), chief executive of Charles Schwab.
Bettinger says 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.
“Today’s investors, and the advisors who serve them, want sophisticated, low-cost strategies and more control over their investment choices and outcomes,” says Bettinger. “By working with these leading ETF managers to offer the largest selection, we’ve created a new home for clients to buy and sell ETFs that is an important complement to the tools and resources we offer to help them achieve their goals.”
According to the 2012 ETF Investor Study by Charles Schwab, released in October of last year, cost is the number one factor investors look at when selecting ETFs. Investors surveyed said they pay the most attention to OERs, followed by trade commissions. Nearly 40 per cent say the ability to trade ETFs commission-free is either most important or very important.
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