Charles Schwab (NYSE: SCHW) has lowered the expense ratios on 15 of its ETFs even closer to zero and is planning to follow up with more fee reductions.

There is a fee war raging in ETFs even if some executives dismiss the idea. Vanguard slashed expense ratios on several ETFs earlier this year, and BlackRock has announced plans to shrink fees on some of its iShares ETFs.

Schwab’s move this week makes it ridiculously cheap to invest in its ETFs. For example, the new expense ratio for Schwab U.S. Large Cap (NYSEArca: SCHX) is just 0.04%. Additionally, Schwab waives trading commissions for clients that invest in its ETFs online. [Schwab Cuts Fees on 15 ETFs]

Schwab entered the ETF business in 2009 and the business has grown to $7.2 billion in assets under management.

“In this period of uncertainty in the markets, the expenses investors pay are the only sure thing,” said Schwab CEO Walt Bettinger, adding the firm wants to offer its clients a truly low-cost way to build a diversified portfolio. “It shouldn’t cost a lot for investors to do the right things with their money.”

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