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January 01, 2010 at 02:00 AM
The San Francisco-based company introduced four index ETFs in November. The Schwab U.S. Broad Market ETF (SCHB), the Schwab U.S. Large Cap ETF (SCHX) and the Schwab U.S. Small Cap ETF (SCHA) are linked to Dow Jones indexes following U.S. stocks. The Schwab International Equity ETF (SCHF) tracks the FTSE Developed ex-US index, which contains around 1,400 foreign stocks. The funds will charge annual expense ratios between 0.08 percent and 0.15 percent.
The $700 billion ETF industry in the U.S. is currently dominated by Barclays Global Investors (iShares), State Street Global Advisors (SPDRs) and the Vanguard Group.
In a statement, Schwab’s chief executive Walter Bettinger indicated that other ETF products would be forthcoming soon.
