Charles Schwab has announced that there will be no capital gains distributions in 2012 by any of the funds in the Schwab exchange-traded fund family.
“We are extremely pleased to be able to deliver this tax efficiency to the growing number of clients who invest in ETFs, and consider it another of the important benefits that Schwab ETFs offer investors,” says John Sturiale, vice president of product management for Charles Schwab.
In September 2012, Schwab announced dramatic cuts to the expense ratios of all 15 Schwab ETFs, making them the lowest expense ratios in their respective Lipper categories. Schwab’s first eight ETFs are currently marking their three-year milestones, and two Schwab ETFs – Schwab US Broad Market ETF (SCHB) and Schwab US Large-Cap ETF (SCHX) – have now passed the USD1bn asset mark.
The company launched its own Schwab ETFs in November 2009, becoming the first to introduce commission-free online trading of ETFs in client accounts. Since then, Schwab ETFs have grown to over USD8.12bn in assets under management, as of 30 November.
The etfexpress Awards 2013 for the top ETF product and service providers will be held in London towards the end of Q1 2013. Please click here to nominate your product/firm.
