Charles Schwab announced Tuesday that as of Oct. 5, exchange-traded fund assets exceeded $100 billion. Charles Schwab Investment Management, Inc. Schwab ETFs now manage over $2 billion in assets, and Schwab Managed Portfolios Exchange-Traded Funds manages $1.7 billion.
Peter Crawford, senior vice president of Charles Schwab & Co., Inc. touted the funds' low costs as a reason for their success.
"Schwab ETFs have had significant traction this first year," he said in a release. "Our clients find these low-cost indexed vehicles enormously appealing in general, and as some of the lowest-cost products in each of their categories, the Schwab ETFs are especially attractive."
Crawford noted that the ETFs met the $2 billion threshold "one year to the day since they debuted.
ETF Securities also announced on Tuesday that its suite of ETFs has over $2.5 billion in assets under management.
William Rhind, strategic director of business development, expressed confidence in the firm's new product, ETFS Physical PM Basket Shares, or GLTR.
"We are especially pleased with the market response to GLTR, which holds all four precious metals in one fund," he said in a release. Trading volumes and assets under management for the fund, which launched Oct. 22, exceeded expectations in the first two weeks of trading.