Charles Schwab has expanded its Schwab ETF OneSource program with the addition of nine exchange-traded funds from four different fund families, including a new provider to the platform, the company announced Tuesday.
The three diversified return strategic beta funds contributed by J.P. Morgan Asset Management make it the 14th provider to join the Schwab ETF OneSource program that offers investors commission-free ETFs.
Schwab also announced the addition of six new ETFs to the lineup from existing providers: WisdomTree is adding four currency-hedged products, ETF Securities is adding a diversified-factor ETF and Direxion Investments is adding a strategic beta high-dividend ETF.
The new funds will be added as of July 1, and they give investors more choices among currency-hedged and strategic-beta strategies across both U.S. and international markets, Schwab says.
“The driving idea behind Schwab ETF OneSource is to provide investors of every size and sophistication access to quality, commission-free ETFs which helps them to build well-diversified portfolios designed to achieve their unique objectives,” Heather Fischer, vice president of ETF Platform Management at Charles Schwab, said in a press release.
Schwab ETF OneSource now offers 211 ETFs covering 66 Morningstar categories. The program had $45 billion in assets under management as of May 31.