Charles Schwab 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.No Commissions, More Control. “Today’s investors, and the advisors who serve them, want sophisticated, low-cost strategies and more control over their investment choices and outcomes,” said 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.” He elaborated, “Awareness and popularity of ETFs have been growing steadily across the range of investors and advisors. Whether there is interest in broad-based exposure to equity markets, access to a single asset class, or a specific fund that seeks to reduce volatility – Schwab ETF OneSource offers a solution – and we’re helping investors put more of their money to work for them. It’s another example of Schwab challenging the status quo to bring greater value to our clients.”