Charles Schwab announced Tuesday that it added a 14th ETF provider and a total of nine new ETFs to Schwab ETF OneSource, the firm’s commission-free ETF investing program.
All three of J.P. Morgan Asset Management’s diversified return strategic beta ETFs will be available on the platform with no online trading commissions. Additionally, WisdomTree added four currency-hedged products, ETF Securities added a diversified-factor ETF and Direxion Investments added a strategic beta high divided ETF.
Investors can now buy and sell 211 ETFs covering 66 Morningstar categories on OneSource without paying online commissions. There are no enrollment requirements or early redemption fees.
Schwab said OneSource has $45 billion in assets under management as of May 31, 2015, and year-to-date flows into ETFs in the program are $5.8 billion, representing 31 percent of total ETF flows at Schwab.
OneSource is available to individual investors, 7,000 independent advisors custodied with Schwab, and through retirement accounts that permit ETF trading.