In another round of expansion on the commission-free exchange traded funds front, E*Trade Financial (NASDAQ: ETFC) added four thematic funds from ETF Managers Group (ETFMG).
The two firms announced the addition of the funds to E*Trade's no commission ETF platform on Monday, noting that one of the funds included in the quartet is the ETFMG Prime Cyber Security ETF (NYSE: HACK), the first dedicated cybersecurity ETF to trade in the U.S.
E*Trade offers more than 250 ETFs on a commission-free basis. In addition to ETFMG, issuers featued on the platform include iShares,Vanguard, John Hancock, Legg Mason, Nuveen and PIMCO, among others.
Why It's Important
Other ETFMG products added to the E*Trade commission-free plan include the ETFMG Video Game Tech ETF (NYSE: GAMR), the first ETF with an emphasis on video game stocks, including software makers and console manufacturers.
The BlueStar Israel Technology ETF (NYSE: ITEQ) was also added to the platform. Up more than 32% year to date, ITEQ is one of the best-performing international ETFs this year. ITEQ is the first ETF in the U.S. to focus on Israel's booming startup and technology sectors.
The ETFMG Drone Economy Strategy ETF (NYSE: IFLY) is the other fund from the issuer added to E*Trade's commission-free ETF program. IFLY is up nearly 17% this year.
As ETFs continue soaring in popularity among advisors and individual investors, expect more brokerage firms to add or expand commission-free plans. Monday's news of the four ETFMG funds added by E*Trade comes about a month after Charles Schwab increased the size of its Schwab ETF OneSource platform to almost 540 funds.
Over the course of this yea, Fidelity has more than doubled the size of its commission-free ETF roster. In May, TD Ameritrade announced a sizable expansion to its commission-free program for ETF investors.
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