“It’s in the early days but as far as we can tell it’s a win-win,” David Mazza, head of ETF investment strategy for the Americas at State Street Global Advisors, said in the article. “We continue to be very excited about the opportunities that OneSource brings to investors and ETF providers and Charles Schwab itself.”
In February, Schwab announced the ETF version of its mutual fund OneSource platform to provide commission-free trades on 105 ETFs from six firms, including State Street (NYSE: STT), Guggenheim, Invesco PowerShares, ETF Securities, U.S. Commodity Funds and Schwab’s own lineup of ETFs. [Schwab Unveils Game-Changing Commission-Free ETF Platform]
The fund sponsors pay a fee to participate in the program, but they argue that the costs are balanced against the benefits of added visibility on the Schwab platform.
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Max Chen contributed to this article.