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January 26, 2015 at 08:42 AM
On Sunday, investors will be able to access 198 exchange-traded funds covering 64 Morningstar categories for no online trade commissions through Charles Schwab’s ETF OneSource platform.
Schwab announced Monday that it would add 18 more ETFs to Schwab ETF OneSource, the program that offers investors the most commission-free ETFs anywhere in the industry.
“Nearly two years and 200 commission-free ETFs after launching Schwab ETF OneSource, investors are embracing the choice and value it offers,” said Heather Fischer, vice president of ETF Platform Management at Charles Schwab, in a statement. “The traction we’ve been able to achieve in a relatively short period speaks volumes about the importance of cost when it comes to selecting an ETF, and we are excited to be able to continue to expand this program to meet investor demand.”
The new additions to OneSource include momentum ETFs, additional single-country ETFs, a bullish dollar ETF and nontraditional bond ETFs, to name a few — thanks to five current providers, Direxion Investments, PowerShares, ProShares, State Street SPDR and WisdomTree.
OneSource includes funds from 13 leading providers — ALPS Advisors Inc., Direxion, ETF Securities, Global X Management Co., Guggenheim Investments, IndexIQ, PIMCO, PowerShares, ProShares, State Street SPDR, United States Commodity Funds, WisdomTree and Charles Schwab Investment Management.
Schwab ETF OneSource has $38 billion in assets under management as of Dec. 31. Flows into ETFs in the program were over $10 billion in 2014, representing 43% of the total ETF flows at Schwab.
Fischer attributed much of Schwab’s overall ETF success — ETF assets at Charles Schwab were up 20% year over year as of Sept. 30 — to its OneSource platform.
