Brokerage giant Charles Schwab Corp (NYSE:SCHW) said Wednesday it is adding 12 exchange-traded funds to its Schwab ETF OneSource Platform, the largest commission-free platform in the ETF industry.
Continue Reading Below
With its revenue-weighted strategies, Oppenheimer is the latest issuer to join OneSource. Four revenue-weighted Oppenheimer ETFs will be available to Schwab clients commission-free, including the b>Oppenheimer Ultra Dividend Revenue ETF (NYSE:RDIV) and the Oppenheimer Large Cap Revenue ETF (NYSE:RWL).
Oppenheimer gained those ETFs through the acquisition of RevenueShares. The firm issued two revenue-weighted environmental, social and governance (ESG) ETFs in November.
Oppenheimer joins ALPS, Deutsche Asset Management, Direxion, ETF Securities, Global X Funds, Guggenheim Investments, IndexIQ, John Hancock Investments, JPMorgan Asset Management, PIMCO, PowerShares, State Street SPDR ETFs, USCF, WisdomTree and Charles Schwab Investment Management on the OneSource platform.
Assets in Schwab ETF OneSource reached $65.4 billion as of November 30, 2016, growing by 34 percent in 2016. November year-to-date flows into ETFs in the program are $11.8 billion, representing 53 percent of the total ETF flows at Schwab, according to San Francisco-based Schwab.
Joining the four Oppenheimer ETFs as new additions to Schwab ETF OneSource are two Guggenheim ETFs, one from JPMorgan Asset Management, two Deutsche X-trackers ETFs, two SPDR funds and the WisdomTree CBOE S&P 500 PutWrite Strategy Fund (NYSE:PUTW).
There are now 228 ETFs covering 69 Morningstar categories on Schwab OneSource. Last year, 35 ETFs were added to OneSource.
Commission-free online trading is available to individual investors at Schwab, to approximately 7,000 independent investment advisors who use Schwabs custodial services and through Schwab retirement accounts that permit trading of ETFs, according to Schwab.
2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.