Charles Schwab Investment Management says assets under management in its eight Schwab exchange-traded funds exceeded USD1bn on 6 April 2010.
Since the first four Schwab ETFs launched five months ago, they have seen significant adoption in the market, driven in part by low operating expense ratios and commission-free online trading in Schwab accounts.
"We’re delighted that individual investors and investment advisors are choosing to invest in Schwab ETFs," says Peter Crawford (pictured), senior vice president of Charles Schwab & Co. "They are finding value in our ETFs with their low expenses and commission-free trades online at Schwab as well as the vast education resources available at the ETF centre at Schwab.com."
The first four Schwab ETFs – the Schwab US Broad Market ETF, the Schwab US Large-Cap ETF, the Schwab US Small-Cap ETF and the Schwab International Equity ETF – were launched on 3 November 2009.
The Schwab US Large-Cap Growth ETF and the Schwab US Large-Cap Value ETF were launched on 11 December 2009.
The Schwab Emerging Markets Equity ETF and the Schwab International Small-Cap Equity ETF began trading on 14 January 2010.
Schwab ETFs track an array of domestic and international stock indexes. In seven of eight Schwab ETFs, the operating expense ratios are the lowest as compared to competitors’ offerings in the same category.