Charles Schwab Investment Management is expanding its offerings of low-cost foundational ETFs with the launch of three new fixed income products, the Schwab 1-5 Year Corporate Bond ETF, the Schwab 5-10 Year Corporate Bond ETF and the Schwab Long-Term U.S. Treasury ETF.
The new products raise Schwab’s bond ETF offerings from four to seven and bring its total number of Schwab ETFs to 25. Since launching its first ETF in 2009, Schwab has become the fifth-largest provider of ETFs, with $151 billion in ETF assets.
The new fixed income ETFs, with 0.06% operating expense ratios, are among the lowest in their respective projected Morningstar categories and will begin trading on Oct. 10.
“Investors are increasingly looking to bond ETFs as a potential source of diversification, liquidity and income, particularly in this time of heightened stock market volatility,” said Jonathan de St. Paer, president of CSIM.
CSIM had $449 billion in assets under management as of Sept. 30.