The Charles Schwab Corp. on Monday said it permanently reduced the fees on six proprietary exchange traded funds.
The discount brokerage said it cut the operating expense ratio on the following funds:
<li> Schwab U.S. Broad Market ETF to 0.06 percent from 0.08 percent.
<li> Schwab U.S. Large-Cap Growth ETF to 0.13 percent from 0.15 percent.
<li> Schwab U.S. Large-Cap Value ETF to 0.13 percent from 0.15 percent.
<li> Schwab U.S. Small-Cap ETF to 0.13 percent from 0.15 percent.
<li> Schwab International Equity ETF to 0.13 percent from 0.15 percent.
<li> Schwab Emerging Markets Equity ETF to 0.25 percent from 0.35 percent.
The company did not change the rates on its U.S. Large-Cap or International Small-Cap Equity ETFs.
ETFs are baskets of stocks or bonds that differ from mutual funds in that they can be traded like stocks during daily trading sessions, rather than being priced once a day.
In morning trading, Schwab shares slipped 12 cents to $16.20. The stock has traded between $15.59 and $19.95 in the past 52 weeks.
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