Scottrade is launching a family of low-cost ETFs on Wednesday that are based on Morningstar's domestic equity indexes, according to the company.
The Focus Morningstar ETFs, offered through the company's recently acquired subsidiary, FocusShares, are being touted by Scottrade as having the lowest expense ratios in the ETF marketplace. The ratios range from 0.05% for the U.S. Market Index and Large Cap ETFs, to 0.19% for most sector ETFs.
The ETFs will be offered to Scottrade account holders, including advisors using Scottrade Advisor Services, with zero commissions, according to the company.
The ETFs will consist of 15 funds: a U.S. broad market, a small-, mid- and large-cap fund, and 11 sector funds.