The Charles Schwab Corporation (SCHW) closed the most recent trading day at $55.35, moving +0.36% from the previous trading session.
Schwab Asset Management on Monday said it cut fees on the Schwab High-Yield Bond ETF (SCYB) and the Schwab U.S. TIPS ETF, which offers exposure to inflation-protected Treasury securities, to just three basis points, or 0.03%, to attract investors. Schwab's high-yield bond offering, launched earlier this year, competes head-to-head with products like the SPDR Portfolio High Yield Bond ETF (SPHY). "Investors continue to consistently rank the expense ratio at the top of the list of the factors they consider most important in owning an ETF," said David Botset, managing director of equity product management and innovation at Schwab.
(Bloomberg) -- Schwab Asset Management is making an aggressive attempt to offer some of the cheapest bond exchange-traded funds on the market.Most Read from BloombergIndians Have Five Days to Deposit $3 Billion in Soon-to-Be-Withdrawn BanknotesBonds Sink, S&P 500 Snaps Four-Day Losing Streak: Markets WrapIndia-Canada Clash Should Be a Wake-Up CallCostco Offers Members $29 Online Health Care VisitsChinese Gold Buying Is Driving a Paradigm Shift in BullionThe asset manager announced Monday that wi