Charles Schwab today announced it has added 16 exchange-traded funds to its Schwab ETF OneSource platform. The no-commission, no-transaction-fee platform, which debuted in February, now has 121 ETFs.
ETF providers participating in the program include State Street Global Advisors, Guggenheim Investments, PowerShares, ETF Securities, United States Commodity Funds and Charles Schwab Investment Management.
The new additions comprise five funds from Guggenheim, five SPDR ETFs from State Street and six funds from Charles Schwab Investment Management. The expanded roster broadens the range of available asset categories to include asset allocation, long-term corporate bond and international asset-income ETFs.
Schwab says that while the ETFs offered on Schwab ETF OneSource represent just eight percent of the total number of ETFs available through Schwab, they account for nearly half of all net ETF flows at Schwab since the platform launched eight months ago. Also, more than 50 percent of ETF flows from RIAs who custody client assets at Schwab are now going into OneSource ETFs.
The full list of funds available on Schwab ETF OneSource are found at http://www.schwab.com/public/schwab/investing/accounts_products/investment/etfs/schwab_etf_onesource.