Charles Schwab continues to broaden its commission-free trade traded funds program, including 25 new funds to its Schwab ETF OneSource platform, the corporate introduced Tuesday. Purchasers now have entry to 539 ETFs, with no buying and selling charges.
This yr, Schwab has greater than doubled the variety of commission-free ETFs on the platform from final yr, including 285 ETFs, together with quite a lot of iShares funds added earlier this yr. This week, the agency added funds from seven suppliers, together with 10 funds from Direxion and three from International X, amongst others. The brand new additions additionally embody JPMorgan’s BetaBuilders funds, which have raked in belongings since their inception.
In all, the ETFs on the platform will now cowl 83 Morningstar classes. Along with not charging commissions, ETFs in this system haven't any enrollment necessities and no early redemption charges or exercise evaluation charges. Each particular person traders and monetary advisors affiliated with Schwab have entry to this system.
12 months-to-date, flows to OneSource have been $13 billion, bringing complete belongings on the platform to $182 billion as of the top of Could, up 81% over the identical interval in 2018.
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