Scottrade became the latest online broker to offer commission-free ETFs that trade online by launching 15 Focus Morningstar ETFs on March 30 — joining market rivals Charles Schwab, TD Ameritrade, Vanguard and Fidelity.
Online trading of the low-cost Focus Morningstar ETFs ETFs, which are based on indexes licensed from Morningstar, are available on a commission-free basis to Scottrade brokerage customers and registered investment advisors using Scottrade Advisor Services as their custodian.
Investors and advisors who are not Scottrade brokerage customers can purchase Focus Morningstar ETFs through their brokerage firms by paying applicable commissions.
“As a company committed to helping people make better investment decisions, these new ETFs are a logical extension of the products and services Scottrade has been providing for 30 years, said Scottrade founder and CEO Rodger Riney in a statement. “There is a growing demand for ETFs among individual and institutional investors as well as financial advisors and we wanted to provide funds that we believe investors could find great value in that haven’t been available before.”
Here’s a list of the Focus Morningstar ETFs with their corresponding expense ratios:
–Focus Morningstar US Market Index ETF (FMU) – 0.05%
–Focus Morningstar Large Cap Index ETF (FLG) – 0.12%
–Focus Morningstar Mid Cap Index ETF (FMM) – 0.12%
–Focus Morningstar Small Cap Index ETF (FOS) – 0.12%
–Focus Morningstar Basic Materials Index ETF (FBM) – 0.19%
–Focus Morningstar Communications Services Index ETF (FCQ) – 0.19%
–Focus Morningstar Consumer Cyclical Index ETF (FCL) – 0.19%
–Focus Morningstar Consumer Defensive Index ETF (FCD) – 0.19%
–Focus Morningstar Energy Index ETF (FEG) – 0.19%
–Focus Morningstar Financial Services Index ETF (FFL) – 0.19%
–Focus Morningstar Healthcare Index ETF (FHC) – 0.19%
–Focus Morningstar Industrials Index ETF (FIL) – 0.19%
–Focus Morningstar Real Estate Index ETF (FRL) – 0.12%
–Focus Morningstar Technology Index ETF (FTQ) – 0.19%
–Focus Morningstar Utilities Index ETF (FUI) – 0.19%
Focus Morningstar ETFs, LLC is a registered investment advisor, a sponsor and affiliate of Scottrade. The firm was acquired by Scottrade in June 2010.