Charles Schwab Corp (NYSE: SCHW), one of the largest discount brokerage firms, said Monday it is expanding its Schwab ETF OneSource platform. Schwab ETF OneSource is already the largest commission-free exchange-traded funds offering in the brokerage space.
Fifteen ETFs from nine different issuers were added to Schwab ETF OneSource effective July 6, according to a statement issued by California-based Schwab.
“With these additions, the program allows investors and advisors to buy and sell 245 ETFs covering 69 Morningstar Categories with $0 online commissions, no enrollment requirements and no early redemption fees — key differentiators for investors comparing Schwab ETF OneSource to other commission-free ETF offerings,” said the company in the statement.
Issuers Found On OneSource
There are now 16 issuers found on Schwab ETF OneSource, including Schwab itself. All of the company's ETFs are available to retail clients and advisors on a commission-free basis.
Other well-known issuers on the platform include Direxion, ETF Securities, Global X Funds, Guggenheim Investments, IndexIQ, John Hancock Investments, JPMorgan Asset Management, PIMCO, PowerShares and WisdomTree Investments, Inc. (NASDAQ: WETF).
“Assets in Schwab ETF OneSource reached $84 billion as of May 31, 2017, growing by 22% in the first five months of 2017. May year-to-date flows into ETFs in the program are $10.8 billion, representing 52% of the total ETF flows at Schwab,” according to the statement.
Among the new ETFs joining OneSource are the WisdomTree Continuous Commodity Index Fund (NYSE: GCC), Global X Robotics & Artificial Intelligence ETF (NASDAQ: BOTZ), Global X MLP & Energy Infrastructure ETF (NYSE: MLPX), Deutsche X-trackers USD High Yield Corporate Bond ETF (NYSE: HYLB) and the SPDR Long Dollar Gold Trust (NYSE: GLDW).
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