Charles Schwab announces fee reductions for certain ETFs, share splits in mututal funds

Charles Schwab (NYSE:SCHW [https://seekingalpha.com/symbol/SCHW]) announced [https://seekingalpha.com/pr/20129945-schwab-asset-management-reduces-fees-on-four-equity-index-etfs-and-announces-mutual-fund] on Monday fee reductions at four equity index ETFs from its asset management unit and forward share splits in six mutual funds.

Shares were +0.12% pre-market to $88.36.

The fee reductions, effective June 10, are applicable at the Schwab 1000 Index® ETF (SCHK [https://seekingalpha.com/symbol/SCHK]), Schwab International Equity ETF (SCHF [https://seekingalpha.com/symbol/SCHF]), Schwab International Small-Cap Equity ETF (SCHC [https://seekingalpha.com/symbol/SCHC]), and Schwab Emerging Markets Equity ETF (SCHE [https://seekingalpha.com/symbol/SCHE]).

The four equity index ETFs are expected to see their operating expense ratios cut to less than 10 basis points.

The forward share splits will be applicable to the Schwab 1000 Index® Fund (SNXFX [https://seekingalpha.com/symbol/SNXFX]) (10-for-1 basis), Schwab U.S. Large-Cap Growth Index Fund (SWLGX [https://seekingalpha.com/symbol/SWLGX]) (8-or-1 basis), Schwab Total Stock Market Index Fund (SWTSX [https://seekingalpha.com/symbol/SWTSX]) (7-for-1 basis), Schwab S&P 500 Index Fund (SWPPX [https://seekingalpha.com/symbol/SWPPX]) (6-for-1 basis), Schwab U.S. Mid-Cap Index Fund (SWMCX [https://seekingalpha.com/symbol/SWMCX]) (5-for-1 basis), and Schwab U.S. Large-Cap Value Index Fund (SWLVX [https://seekingalpha.com/symbol/SWLVX]) (4-for-1 basis).

The splits are expected to occur on August 15.

The moves come on the heels of Schwab's launch of National Investing Day on May 1.

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