The trend of offering low-cost exchange-traded fund (ETF) solutions is continuining as Schwab announced that Schwab ETF OneSource™, one of the largest commission-free ETF programs in the industry, will essentially offer more for less as it doubles its lineup and adds iShares ETFs to its already robust menu.
With these additions, Schwab clients will be able to buy and sell 503 ETFs covering 79 Morningstar Categories with $0 online commissions, no enrollment requirements and no early redemption fees or activity assessment fees – key differentiators for investors comparing Schwab ETF OneSource to other commission-free ETF offerings.
The wide array of ETFs offered will give clients a broad selection to choose from, including comprehensive market coverage that spans across various assets like U.S. equities, fixed income, international equities, and commodities.
“We’re really excited about doubling the number of ETFs on ETF OneSource, meaning on March 1st, we’ll have over 500 ETFs trading commission-free,” said Kari Droller, vice president of third-party platforms
Starting on March 1, 2019, iShares ETFs will join the program with 90 funds, and Invesco, State Street Global Advisors SPDR® ETFs and WisdomTree will add significantly to the number of ETFs they already make available commission-free to Schwab clients. Aberdeen Standard Investments, ALPS Advisors, Direxion, Global X ETFs, John Hancock Investments, J.P. Morgan Asset Management and PIMCO – all current participants in the Schwab ETF OneSource program – are also adding funds to the lineup.
“We’re very proud of the role that Schwab ETF OneSource has played in making ETF investing more affordable and accessible for all investors,” said Droller. “Today, nearly three in four investors tell us that ETFs are their investment vehicle of choice, and portfolio allocations continue to rise steadily2. Against that backdrop, we’re pleased to provide investors with significantly more choice and to welcome iShares ETFs to our family of providers.”
“We’re adding iShares in response to client need and client demand. We’re really excited to put a brand on the platform that we know is going to be important to our clients to be able to trade commission-free,” Droller added.
One of the first commission-free ETF programs in the industry, Schwab ETF OneSource launched in February 2013 with six providers and 105 ETFs. In six years, the program has grown its lineup of commission-free ETFs nearly five-fold and expanded the number of providers participating in the program to 16, including: Aberdeen Standard Investments, ALPS Advisors, DWS Group, Direxion, Global X ETFs, IndexIQ, Invesco, iShares ETFs, John Hancock Investments, J.P. Morgan Asset Management, OppenheimerFunds, PIMCO, State Street Global Advisors SPDR® ETFs, USCF, WisdomTree and Charles Schwab Investment Management.