Charles Schwab Corp. made news this week with its bombshell announcement that it’s eliminating online trade commissions for stocks and exchange-traded funds, and it continues its assault on investment fees with plans to launch three fixed-income ETFs next week that are among the cheapest of their kind.

The company’s asset management arm, Charles Schwab Investment Management Inc., said the three funds will begin trading on October 10, and all three will charge an operating expense ratio of 0.06%. According to research site, seven bond ETFs charge either 0.04% or 0.05%, including two Schwab products.

Schwab's other two existing bond ETFs have expense ratios of 0.06%. It seems to be a winning game plan because these funds have respective assets under management ranging from $4.7 billion to $8.5 billion.

The new funds (and their underlying index) comprise the following:

Schwab 1-5 Year Corporate Bond ETF (SCHJ) — Bloomberg Barclays U.S. 1-5 Year Corporate Bond Index

Schwab 5-10 Year Corporate Bond ETF (SCHI) — Bloomberg Barclays U.S. 5-10 Year Corporate Bond Index

Schwab Long-Term U.S. Treasury ETF (SCHQ) — Bloomberg Barclays U.S. Long Treasury Index