Schwab Unveils Massive Additions To Commission-Free ETF Lineup
Benzinga | Feb 08, 2013 01:20AM ET
Shares of discount broker Charles Schwab (SCHW) are higher by nearly one percent and touched a new 52-week higher earlier today after the company unveiled substantial additions to its commission-free ETF lineup.
Under a new platform known as Schwab ETF OneSource, the California-based brokerage firm will, starting today, allow its clients to buy and sell 105 ETFs with $0 online trade commissions. Schwab has allowed its clients to trade the firm's own ETFs commission-free since the firm first entered the ETF business several years ago.
"Just as Schwab Mutual Fund OneSource changed the landscape for investors and advisors by providing convenient, affordable access to leading mutual funds when Chuck Schwab introduced it twenty years ago, we believe Schwab ETF OneSource will deliver enormous benefit and change the way our clients buy and sell ETFs,” said Schwab CEO Walt Bettinger ETF lineup includes plenty of standard fare such as the Schwab U.S. Large-Cap Value ETF (SCHV) and the Rydex S&P 500 Equal Weight ETF (RSP).
However, the Schwab ETF OneSource also features more exotic offerings such as the Guggenheim China Small-Cap ETF (HAO) and the SPDR S&P Emerging Latin America ETF (GML). Schwab OneSource's commission-free bond ETF menu is also among the deepest in the industry, including such funds as the PowerShares Senior Loan Portfolio (BKLN) and the SPDR Barclays Capital EM Local Bond ETF (EBND) along more benign offerings such as the Schwab U.S. TIPS ETF (SCHP).
While OneSource's sector offerings do not include any of the popular Select Sector SPDRs, the group does feature nine of Guggenheim's equal-weight sector ETFs such as the Guggenheim S&P Equal Weight Technology (RYT).
OneSource also features a wide array of forex and commodities offerings, something not previously seen on other commission-free platforms. Seven Guggenheim forex ETFs can be traded commission-free on OneSource. Schwab's commission-free commodities offerings now include the U.S. Gasoline Fund (UGA), the ETF Physical Silver Shares (SIVR) and the ETFS Physical Platinum Shares (PPLT).
BY The ETF Professor
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