Charles Schwab Investment Management (CSIM) has just introduced the Schwab U.S. Large-Cap Growth ETF (NYSEArca: SCHG) and the Schwab U.S. Large-Cap Value ETF (NYSEArca: SCHV).
Both funds charge annual expenses of 0.15% and are linked to Dow Jones Indexes.
The latest round of funds will compliment the first four Schwab ETFs — U.S. Broad Market (NYSEArca: SCHB), U.S. Large-Cap (NYSEArca: SCHX), U.S. Small-Cap (NYSEArca: SCHA) and International Equity (NYSEArca: SCHF), which were launched in November.
As of Dec. 9, CSIM had $209 million in assets under management in the first four Schwab ETFs, and trading volume across the four ETFs has averaged approximately 555,000 shares per day since inception.
“Individual investors and investment advisors count on Schwab for products which provide exceptional value, and our clients have indicated an interest in ETFs as a way to invest in and trade entire segments of the market,” said Peter Crawford, senior vice president at Charles Schwab. “These two new ETFs allow investors to tilt their portfolios based on whichever style, growth or value, they think will lead the market in the future.”
Like the first four funds, the two new Schwab-managed ETFs can be bought and sold commission-free online in Schwab accounts.
Crawford added, “Commission-free online trades make the Schwab ETFs even more cost-effective, especially for investors who wish to dollar-cost average.”
Commission-free online trading of Schwab ETFs is available to individual investors at Schwab, to the more than 6,000 independent investment advisors who use Schwab’s custodial services and through Schwab retirement accounts that permit trading of ETFs.
Two additional Schwab ETFs, covering emerging markets and international small-cap equity, are expected to be launched in January 2010.
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