Schwab's (SCHW) cost-cutting is paying off as its U.S. Broad Market ETF (SCHB) has about doubled...
Schwab's (SCHW) cost-cutting is paying off as its U.S. Broad Market ETF (SCHB) has about doubled to $2B in AUM since cutting its expense ratio 33% to 0.04%. Competitors like Vanguard's VTI and iShares' IWV cost 0.05% and 0.20%, respectively. The SCHB - along with the other 14 ETFs Schwab cut fees on - is likely now a loss leader, but the company expects to gain from expanding the "totality of the relationship" with clients.
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