It has been a banner year of asset-gathering for Charles Schwab (NYSE: SCHW) as the brokerage giant continues cementing its status as one of the fastest-growing providers of exchange traded funds.
According to ETF.com data, California-based Schwab had $38.5 billion in ETF assets under management as of Dec. 14, making it the seventh-largest U.S. ETF issuer.
In addition to Schwab’s low fees, which are among the lowest in the ETF industry, there is more good news for Schwab ETF investors: The company said there will be no 2015 capital gains distributions on any of its ETFs. That means 2015 marks the six consecutive year in which Schwab has had no capital gains distributions on its ETFs.
“Many investors are attracted to the tax efficiency that ETFs provide, so we’re proud that Schwab ETFs have been able to meet this demand with no distributed capital gains since the first Schwab ETFs launched in 2009,” said Jonathan de St. Paer, Senior Vice President, Product Management, Charles Schwab Investment Management, in a statement. “At CSIM we seek to deliver tax efficiency and help investors achieve their investment goals with simple, low-cost products that deliver value.”