Pedestrians pass in front of a Charles Schwab Corp. office building in New York. (Photo: Victor J. Blue/Bloomberg) Pedestrians pass in front of a Charles Schwab Corp. office building in New York. (Photo: Victor J. Blue/Bloomberg)

Schwab has once again expanded its platform of commission-free ETFs, adding 25 new funds to its ETF OneSource platform for a total of 539 funds. It has added 285 funds to the platform this year to date, more than doubling the number from a year ago.

Schwab now places ahead of Fidelity, which has 503 funds on its no-fee ETF platform, but  behind TD Ameritrade, with 569 funds, and Vanguard, with nearly 1,800.

In announcing the expansion of its ETF OnSource platform, Kari Droller, vice president of third-party mutual fund and ETF platforms at Schwab, referred to the firm’s 2019 ETF Investor Study, which found that investors want a broad selection of ETF categories with no additional fees.

“Our priority with the Schwab ETF OneSource program has been to provide a broad lineup of commission-free ETFs that spans a variety of asset classes and index weightings to make it simple for investors and advisors to build highly diversified, commission-free ETF portfolios.”

The 25 new ETFs added to the platform are from seven different providers: Direxion, which accounts for more than half, JPMorgan (one-quarter), Global X, MacKay Shields, John Hancock, Pimco and State Street.

All but four of the additions are equity ETFs and about half are international, including some that are single-country or regional ETFs. Several are sector funds and two of the four bond funds are muni ETFs.

The Schwab commission-free ETF platform now includes funds from 15 asset managers and covers 83 Morningstar categories. None of its ETFs charge redemption fees or activity assessment fees or have enrollment requirements such as investment minimums.

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