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ETF Securities US has been selected by Charles Schwab as the sole provider of precious metal exchange-traded funds for the commission-free Schwab ETF OneSource platform.
All major asset classes are available through this offering, including ETF Securities' physically-backed precious metal ETFs.
"We're extremely pleased to partner with Charles Schwab to offer our funds directly to investors without a commission," says Will Rhind, managing director of ETF Securities, New York. "Studies show that the biggest factor in considering an ETF is cost. This new offering removes that barrier and gives unprecedented ease-of-access to investors who want to participate in the precious metals market without having to purchase coins or bars."
With USD0 online trade commissions, Schwab clients will be able to trade ETF Securities' Physical Swiss Gold Shares (SGOL), Physical Silver Shares (SIVR), Physical Platinum Shares (PPLT), Physical Palladium Shares (PALL), Physical Precious Metals Basket Shares (GLTR), and Physical White Metals Basket Share (WITE).
Unlike most ETFs, which simply track an index, ETF Securities' funds are physically-backed with the underlying metal assets held in vaults in London, Zurich and Singapore. Investors who buy shares of an ETF Securities' fund have an ownership stake in the fund's underlying commodity, which provides price transparency and liquidity.
Rhind says: "Since entering the US market in July 2009, ETF Securities has amassed more than USD4.1bn in assets under management in the US. Being part of Schwab's offering – through its base of 8.7 million brokerage accounts – gives us much broader reach for the ultimate benefit of investors who want physical precious metals as part of a diversified portfolio."
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