Charles Schwab (SCHW) recently announced they have added more than 60 additional ETFs to the Schwab ETF OneSource platform. The ETFs that are part of this program are commission-free to investors. Importantly, not only do these ETFs have a $0 online trade commission, but they also came with no enrollment requirements and no early redemption fees.
The new ETF providers that have joined the OneSource commission-free program at Schwab are ALPS, Global X Funds, PIMCO, Direxion Investments, WisdomTree, and ProShares. In total, 65 ETFs have been added to the program, with 28 coming from new participants and 37 coming from exisiting providers. To see a full list of the Schwab ETF OneSource ETFs simply click here.
“We know that every dollar counts for investors-and trading commissions can really add up, so they are crucial when evaluating the total cost of an ETF,” said Heather Fischer, Vice President of of ETF Platform Management at Charles Schwab.
Investors now have access to 182 different ETFs which cover 65 unique Morningstar Categories through the Schwab OneSource program. As of August 31, 2014, Schwab ETF OneSource has $31 billion in assets under management so this has clearly been a popular program with investors.
For the full press release from Schwab on this click here.