Portfolio

Schwab Expands Index Mutual Fund Lineup

New additions to family of low-cost index funds deliver more choice and value to investors

December 01, 2017 — SAN FRANCISCO–(BUSINESS WIRE)–Charles Schwab Investment Management (CSIM), an asset management arm of The Charles Schwab Corporation, today announced it is launching three new Schwab index mutual funds that will extend its existing low-cost index mutual fund lineup.

The funds will be available for purchase on or about December 20, 2017.

Featuring no investment minimums (ensuring every investor gets the lowest pricing, regardless of how much they have to invest), a single share class, and total annual fund operating expenses (OERs) of four (0.04%) to five (0.05%) basis points, the new funds provide investors with straightforward products at a low cost. Additionally, from the launch of the funds through June 30, 2018, the OERs will be voluntarily waived by the investment adviser.

Core Fundamental Products

“We are pleased to make these three new index mutual funds available to investors who want exposure to the U.S. market,” said Marie Chandoha, president and chief executive officer of CSIM. “With the addition of these funds, we now provide all of the core foundational products investors need for U.S. equity allocation, regardless of vehicle – exchange traded fund (ETF) or mutual fund – at a great value.”

The new funds are as follows:

TickerFundBenchmark IndexOER
SWLGXSchwab ® U.S. Large-Cap Growth Index FundRussell 1000® Growth Index0.04%
SWLVXSchwab ® U.S. Large-Cap Value Index FundRussell 1000® Value Index0.04%
SWMCXSchwab ® U.S. Mid-Cap Index FundRussell Midcap® Index0.05%

 

A Leader and Innovator in Index Investing for 25+ Years

Schwab has been a pioneer in index investing since 1991 when company founder and chairman Charles Schwab led the launch of the Schwab 1000 Index and the mutual fund that tracks it, the Schwab 1000 Index® Fund (SNXFX). Today, CSIM is the 3rd largest index fund provider in the industry.* CSIM currently offers 36 index funds (includes both mutual funds and ETFs) with $155.9 billion in assets under management.1

In keeping with Schwab’s heritage of disruption and innovation, the firm implemented dramatic pricing changes, simplified its fee structure, and eliminated investment minimums on its index mutual funds earlier this year.

A complete list of Schwab’s index funds can be found here.

 

 

 

About Charles Schwab Investment Management
Founded in 1989, Charles Schwab Investment Management, Inc., a subsidiary of The Charles Schwab Corporation, is one of the nation’s largest asset management companies, with more than $340 billion in assets under management as of 10/31/17. It is also the third largest provider of index mutual funds and the fifth largest provider of ETFs*.
More information is available at schwabfunds.com.
*Source: Strategic Insight, as of 10/31/17; based on assets under management.
1 Source: Strategic Insight Simfund, as of October 31, 2017
About Charles Schwab
At Schwab, we believe in the power of investing to help individuals create a better tomorrow. We have a history of challenging the status quo in our industry, innovating in ways that benefit investors and the advisors and employers who serve them, and championing our clients’ goals with passion and integrity.
More information is available at www.aboutschwab.com. Follow us on Twitter, Facebook, YouTube and LinkedIn.