Last week, BlackRock’s iShares unit, the world’s largest issuer of exchange traded funds, announced it pare the annual fees on seven members of its core lineup of ETFs.

The new, lower fees further intensifies the low-cost competition between iShares and Vanguard and Charles Schwab, the latter two of which are seen as low-fee leaders in the ETF space. Schwab responded by announcing it will lower the fee on the Schwab U.S. Large-Cap ETF (NYSEArca: SCHX) to 0.03% from 0.04%.

California-based Charles Schwab has also lowered the fees on several other of its popular ETFs. The Schwab U.S. Broad Market ETF (NYSEArca: SCHB) now has an annual fee of 0.03%, down from 0.04% while the fees have been pared on the Schwab U.S. Large-Cap Value ETF (NYSEArca: SCHV) and the Schwab U.S. Large-Cap Growth ETF (NYSEArca: SCHG) are now 0.06%, down from 0.07%, reports Johanna Bennett for Barron’s.

After BlackRock said it will lower the annual fee on the iShares Core S&P Total US Stock Market ETF (NYSEArca: ITOT) to 0.03% from 0.07%, briefly making ITOT the least expensive U.S. equity ETF on the market, Schwab responded by announcing it will lower the fee on the Schwab U.S. Large-Cap ETF (NYSEArca: SCHX) to 0.03% from 0.04%.

SCHX, the Schwab ETF with the 0.03% annual expense ratio, tracks the Dow Jones US Large Cap Total Stock Market Index and Schwab advisor and retail clients can trade the ETF commission-free on Schwab’s ETF OneSource platform.

All Schwab ETFs can be traded commission-free on ETF OneSource.

The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.