Charles Schwab (NYSE: SCHW), one of the largest discount brokers in the U.S., continues making exchange traded funds a cost-effective investment vehicle for advisors and investors. On July 1, the company will add nine ETFs to its already expansive Schwab ETF OneSource commission-free exchange traded funds platform.
J.P. Morgan Asset Management, the ETF arm of J.P. Morgan Chase (NYSE: JPM) becomes the newest issuer of Schwab ETF OneSource as all three J.P. Morgan ETFs will be available to Schwab clients commission-free. Those ETFs include the JPMorgan Diversified Return Global Equity ETF (NYSEArca: JPGE), JPMorgan Diversified Return International Equity ETF (NYSEArca: JPIN) and the JPMorgan Diversified Return Emerging Markets Equity ETF (NYSEArca: JPEM).
Last year, seven ETF providers — ALPS, Direxion Investments, Global X Funds, IndexIQ, PIMCO, ProShares and WisdomTree (NasdaqGS: WETF) – joined OneSource. [Schwab Expands Commission-Free ETF Lineup]
With original members State Street (NYSE: STT), Guggenheim, Invesco’s (NYSE: IVZ) PowerShares, ETF Securities, U.S. Commodity Funds and Schwab’s own lineup of ETFs, OneSource now offers select ETFs from 14 issuers on a commission-free basis. The entire list can be viewed here.
“Six additional funds from current providers will be added to Schwab ETF OneSource tomorrow. WisdomTree is adding four currency-hedged products, ETF Securities is adding a diversified-factor ETF and Direxion Investments is adding a strategic beta high dividend ETF,” according to a statement issued by California-based Schwab.
The ETFS Diversified-Factor U.S. Large Cap Index Fund (NYSEArca: SBUS), which debuted in late January, is the ETF Securities offering that will be available to Schwab clients commission-free. Direxion adds to its OneSource presence with the Direxion Value Line Small- and Mid-Cap High Dividend ETF (NYSEArca: VLSM). [Direxion Expands Non-Leveraged Lineup With Dividend ETFs]