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ETFs

Schwab Program Nearly Doubles Commission-Free ETFs to 503 Funds

Schwab adds 246 funds to commission-free ETF OneSource program, brings iShares into the fold

Charles Schwab (SCHW) on Tuesday announced a roughly doubling of its program offering commission-free exchange-traded funds (ETFs), Schwab ETF OneSource.

OneSource currently offers a suite of 257 ETFs, commission-free, from 16 providers: Aberdeen Standard Investments, ALPS Advisors, DWS Group, Direxion, Global X ETFs, IndexIQ, Invesco, John Hancock Investments, JPMorgan Asset Management, Oppenheimer Funds, PIMCO, State Street Global Advisors SPDR ETFs, USCF, WisdomTree and Charles Schwab Investment Management.

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However, Schwab’s program will expand to 503 funds via both additions from its current partners, as well as a new partner: BlackRock’s iShares ETF unit – the largest exchange-traded fund issuer with $1.4 trillion in assets under management.

Current partners that will expand their ETF lineups “significantly” are Invesco, SPDR and WisdomTree.

The expansion also will add to the number of Morningstar categories included, from 70 to 79. New to the fold will be Communications (the new GICS sector), Foreign Small/Mid Value, Latin America Stock, Long-Term Bond, Multisector Bond, Muni California Long, Muni National Intermediate, Muni New York Intermediate and World Small/Mid Stock.

“Today, nearly three in four investors tell us that ETFs are their investment vehicle of choice, and portfolio allocations continue to rise steadily,” said Kari Droller, Schwab’s vice president of third-party platforms. “Against that backdrop, we’re pleased to provide investors with significantly more choice and to welcome iShares ETFs to our family of providers.”

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OneSource’s funds include a number of Schwab offerings that are either the lowest or among the lowest in annual expenses, too, such as Schwab U.S. Broad Market (SCHB, 0.03% annually), Schwab U.S. Large-Cap (SCHX, 0.03%), Schwab International Equity (SCHF, 0.06%) and Schwab U.S. Aggregate Bonds (SCHZ, 0.04%).

Other notable ETFs included via the commission-free program include:

  • Invesco Senior Loan ETF (BKLN), a Kiplinger ETF 20 selection
  • Invesco S&P 500 Equal Weight ETF (RSP)
  • Invesco S&P 500 Low Volatility ETF (SPLV)
  • ALPS Sector Dividend Dogs ETF (SDOG)
  • SPDR Stoxx Europe 50 ETF (FEU)
  • SPDR S&P China ETF (GXC)
  • Xtrackers Harvest CSI 300 China A-Shares ETF (ASHR)
  • IQ Merger Arbitrage ETF (MNA)
  • Invesco Preferred ETF (PGX)
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