The five ETFs with lower fees are listed below. In total, these funds manage over $18 billion in assets, so it’s safe to say many investors and institutions will be pulling in some serious savings from the moves.
|Fund||Ticker||Former OER (BPS)||New OER (BPS)|
|Schwab U.S. Small-Cap ETF™||SCHA||0.07%||0.06%|
|Schwab U.S. Mid-Cap ETF™||SCHM||0.07%||0.06%|
|Schwab International Equity ETF™||SCHF||0.08%||0.07%|
|Schwab Emerging Markets Equity ETF™||SCHE||0.14%||0.13%|
|Schwab U.S. Aggregate Bond ETF™||SCHZ||0.05%||0.04%|
Marie Chandoha, President and CEO of Charles Schwab Investment Management (CSIM), commented:
“The appeal of index investing continues to accelerate. When individuals invest their hard-earned money, they are increasingly searching for low-cost, transparent, enduring products. It’s our mission to deliver on that, and we are proud that CSIM has been the catalyst for helping investors access lower cost ETFs across the industry.”
Today’s move comes on the heels of fellow ETF issuer BlackRock cutting expenses on several of its most popular funds earlier this week. The competition continues to heat up in the ETF space, which is great news for investors, as even seemingly small cuts to expense ratios can quickly add up to billions of dollars over time.