Schwab Cuts Fees on Four Equity Index ETFs, Deepening Race to Zero

Schwab Asset Management cut fees on four equity index ETFs, lowering its U.S. mid-cap and small-cap funds to 0.03% and its international small-cap and emerging markets funds to 0.06%. According to BeInCrypto, the reductions took effect June 11 and apply to SCHM, SCHA, SCHC and SCHE, intensifying a price war with Vanguard and BlackRock that has pushed core index costs toward zero. Schwab said 16 of its 24 market-cap weighted index ETFs now charge three basis points. Bloomberg Intelligence’s Eric Balchunas said the cuts only tie the cheapest rivals.