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.