[Fidelity and Schwab Expand Commission Free ETF list]

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mervinj7
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[Fidelity and Schwab Expand Commission Free ETF list]

Post by mervinj7 » Tue Feb 12, 2019 4:52 pm

For those that might have missed today's announcement. The commission free ETF list will expand from 240 to 500 with more options from iShares on Feb 28. However, I don't see a full list of the new ETFs on the website. Anybody find it?

https://www.fidelity.com/bin-public/060 ... 021219.pdf

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SlowMovingInvestor
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Re: Fidelity Expands Commission Free ETF list to over 500

Post by SlowMovingInvestor » Tue Feb 12, 2019 5:16 pm

Schwab too apparently. But I don't see their list either

https://www.cnbc.com/2019/02/12/fidelit ... rades.html

TDAM is the laggard in this area now.

drk
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Re: Fidelity Expands Commission Free ETF list to over 500

Post by drk » Tue Feb 12, 2019 6:17 pm

Here is the Schwab list. Nothing too exciting, except for more Treasury fund coverage. It looks like the list specifically excludes funds that would compete with Schwab’s own ETFs, so no ITOT, IJR, IDEV, IEMG, etc.

Actually, I reckon I overlooked the SPDR Portfolio additions. They compete directly with Schwab ETFs.

UpperNwGuy
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Re: Fidelity Expands Commission Free ETF list to over 500

Post by UpperNwGuy » Tue Feb 12, 2019 6:28 pm

The price war is still on. Competition is a wonderful thing. I love it!

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SlowMovingInvestor
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Re: Fidelity Expands Commission Free ETF list to over 500

Post by SlowMovingInvestor » Tue Feb 12, 2019 6:32 pm

Some of the iShares Bond ETFs do compete with Schwab's own bond ETFs.

gtwhitegold
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Re: Fidelity Expands Commission Free ETF list to over 500

Post by gtwhitegold » Tue Feb 12, 2019 6:43 pm

drk wrote:
Tue Feb 12, 2019 6:17 pm
Here is the Schwab list. Nothing too exciting, except for more Treasury fund coverage. It looks like the list specifically excludes funds that would compete with Schwab’s own ETFs, so no ITOT, IJR, IDEV, IEMG, etc.

Actually, I reckon I overlooked the SPDR Portfolio additions. They compete directly with Schwab ETFs.
Not much that's being added is compelling for me. I might switch some of my SFENX to DGS though.

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Re: Fidelity Expands Commission Free ETF list to over 500

Post by MnD » Tue Feb 12, 2019 8:04 pm

drk wrote:
Tue Feb 12, 2019 6:17 pm
Here is the Schwab list. Nothing too exciting, except for more Treasury fund coverage. It looks like the list specifically excludes funds that would compete with Schwab’s own ETFs, so no ITOT, IJR, IDEV, IEMG, etc.

Actually, I reckon I overlooked the SPDR Portfolio additions. They compete directly with Schwab ETFs.
Boooooo...............
No low cost complete total international such as iShares IXUS.
No total world stock, not even the less than complete and pricey iShares ACWI (.31ER and no small small caps) or complete but still pricey and very low trading volume State Street ACIM. Absent that, Schwab needs to come up with their own total ex-US at least.
70/30 AA, Global market cap equity. Rebalance if FI <25% or >35%. Weighted ER< .10%. 5% of annual portfolio balance SWR, Proportional (to AA) withdrawals.

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Schwab expands commission free ETFs

Post by Jmh04j » Sun Feb 17, 2019 9:25 am

[Thread merged into here, see below. --admin LadyGeek]

It looks like Schwab is adding iShares, SPDRs and others to their commission free lineup. For some reason ITOT (iShares total market) and IXUS (iShares total international) are curiously missing from the list. I have reached out to Schwab for clarification.

https://www.aboutschwab.com/press/schwa ... -free-etfs

mptfan
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Re: Schwab expands commission free ETFs

Post by mptfan » Sun Feb 17, 2019 9:30 am

Jmh04j wrote:
Sun Feb 17, 2019 9:25 am
It looks like Schwab is adding iShares, SPDRs and others to their commission free lineup. For some reason ITOT (iShares total market) and IXUS (iShares total international) are curiously missing from the list. I have reached out to Schwab for clarification.
Why do you need clarification, what part of Schwab's announcement is unclear?

tenkuky
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Re: Schwab expands commission free ETFs

Post by tenkuky » Sun Feb 17, 2019 10:01 am

I think OP meant why Schwab selectively chose only some and not all iShare ETFs to be commission free.
I’d be interested in their response too since I recently TLHed VEU into IXUS.

Willmunny
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Re: Schwab expands commission free ETFs

Post by Willmunny » Sun Feb 17, 2019 11:15 am

I assume they want to keep their customers who use total market index ETFs in SCHB and SCHF.

student
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Re: Schwab expands commission free ETFs

Post by student » Sun Feb 17, 2019 11:21 am

Willmunny wrote:
Sun Feb 17, 2019 11:15 am
I assume they want to keep their customers who use total market index ETFs in SCHB and SCHF.
+1.

rajwar
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Re: Schwab expands commission free ETFs

Post by rajwar » Sun Feb 17, 2019 12:00 pm

ITOT ans SCHB look pretty much the same in all aspects

michaeljmroger
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Re: Schwab expands commission free ETFs

Post by michaeljmroger » Sun Feb 17, 2019 12:16 pm

Great news! My main issue with Schwab was that they didn't have a great muni bond fund so far, but this is now fixed with access to MUB commission-free.

badger42
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Re: Schwab expands commission free ETFs

Post by badger42 » Sun Feb 17, 2019 12:20 pm

rajwar wrote:
Sun Feb 17, 2019 12:00 pm
ITOT ans SCHB look pretty much the same in all aspects
Different indexes though, so potentially good pairing for tlh (or triple with vti if that's your strategy)

Nthomas
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Re: Schwab expands commission free ETFs

Post by Nthomas » Sun Feb 17, 2019 2:47 pm

I wish they would have at least included IJR (S&P 600 SC) and IJS (S&P 600 SCV) as Schwab has no similar funds. The only commission-free option is SLYV (SPDR S&P 600 SCV) which is not tax-efficient.

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Re: Schwab expands commission free ETFs

Post by Vulcan » Sun Feb 17, 2019 3:05 pm

Jmh04j wrote:
Sun Feb 17, 2019 9:25 am
It looks like Schwab is adding iShares, SPDRs and others to their commission free lineup. For some reason ITOT (iShares total market) and IXUS (iShares total international) are curiously missing from the list. I have reached out to Schwab for clarification.

https://www.aboutschwab.com/press/schwa ... -free-etfs
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Re: Schwab expands commission free ETFs

Post by whodidntante » Sun Feb 17, 2019 3:33 pm

Vulcan wrote:
Sun Feb 17, 2019 3:05 pm
Jmh04j wrote:
Sun Feb 17, 2019 9:25 am
It looks like Schwab is adding iShares, SPDRs and others to their commission free lineup. For some reason ITOT (iShares total market) and IXUS (iShares total international) are curiously missing from the list. I have reached out to Schwab for clarification.

https://www.aboutschwab.com/press/schwa ... -free-etfs
Pass. No VT
Ha! No commission free funds at all from their mortal enemy.

MnD
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Re: Schwab expands commission free ETFs

Post by MnD » Sun Feb 17, 2019 3:45 pm

19 of the 25 iShares Core ETF's were excluded from the addition to Schwab's commission-free list.
All 14 equity funds, 1 real estate fund and the 4 multi-asset allocation funds.
The only Core funds included were the 6 Core fixed income ETF's.
https://www.ishares.com/us/products/etf ... &fst=50567

So not much to get excited about except on the bond side which looked like a decent expansion.
I noticed iShares Core ISUD was added. It is like Total Bond Fund like BND or AGG but with high yield included.
3.27% SEC yield versus 3.01% for folks interested in a more "total" total bond fund.
70/30 AA, Global market cap equity. Rebalance if FI <25% or >35%. Weighted ER< .10%. 5% of annual portfolio balance SWR, Proportional (to AA) withdrawals.

Jmh04j
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Re: Schwab expands commission free ETFs

Post by Jmh04j » Sun Feb 17, 2019 3:49 pm

MnD wrote:
Sun Feb 17, 2019 3:45 pm
19 of the 25 iShares Core ETF's were excluded from the addition to Schwab's commission-free list.
All 14 equity funds, 1 real estate fund and the 4 multi-asset allocation funds.
The only Core funds included were the 6 Core fixed income ETF's.
https://www.ishares.com/us/products/etf ... &fst=50567

So not much to get excited about except on the bond side which looked like a decent expansion.
I noticed iShares Core ISUD was added. It is like Total Bond Fund like BND or AGG but with high yield included.
3.27% SEC yield versus 3.01% for folks interested in a more "total" total bond fund.
Well said - it’s a shame because including the Core iShares commission free probably would have put me over the edge with the decision to consolidate to Schwab.

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Re: Schwab expands commission free ETFs

Post by Quercus Palustris » Sun Feb 17, 2019 3:49 pm

Willmunny wrote:
Sun Feb 17, 2019 11:15 am
I assume they want to keep their customers who use total market index ETFs in SCHB and SCHF.
They did add AGG, which is kind of odd considering the similarity to their own SCHZ. Maybe they only added rival ETFs that duplicate theirs if the new one had higher ER?

I noticed Fidelity didn't announce the new commission free ETFs they were adding. Maybe Schwab caught them flat-footed.

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Re: Schwab expands commission free ETFs

Post by jhfenton » Sun Feb 17, 2019 4:04 pm

Fidelity announced the same thing on the same day as Schwab: 500+ commission-free ETFs. There was an earlier thread discussing both announcements: viewtopic.php?t=272759

Fidelity hasn't released their expanded list yet that I can tell.

MnD
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Re: Schwab expands commission free ETFs

Post by MnD » Sun Feb 17, 2019 4:10 pm

Schwab needs their own total international if they aren't going to add someone elses to their free list.
I can't believe Schwab or their customers are happy with cobbling together SCHF, SCHE and SCHC for a still incomplete approximation of VXUS or IXUS.
70/30 AA, Global market cap equity. Rebalance if FI <25% or >35%. Weighted ER< .10%. 5% of annual portfolio balance SWR, Proportional (to AA) withdrawals.

Jmh04j
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Re: Schwab expands commission free ETFs

Post by Jmh04j » Sun Feb 17, 2019 4:20 pm

MnD wrote:
Sun Feb 17, 2019 4:10 pm
Schwab needs their own total international if they aren't going to add someone elses to their free list.
I can't believe Schwab or their customers are happy with cobbling together SCHF, SCHE and SCHC for a still incomplete approximation of VXUS or IXUS.
AMEN!!

badger42
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Re: Schwab expands commission free ETFs

Post by badger42 » Sun Feb 17, 2019 4:22 pm

MnD wrote:
Sun Feb 17, 2019 4:10 pm
Schwab needs their own total international if they aren't going to add someone elses to their free list.
I can't believe Schwab or their customers are happy with cobbling together SCHF, SCHE and SCHC for a still incomplete approximation of VXUS or IXUS.
As a Schwab customer, I don't begrudge them the $4.95 commission on an ETF trade to get what I want. For a $10k trade that's 5 basis points of one-time cost, and their execution is excellent (and you often make significantly more than that $4.95 back with their price improvement on execution)

Also, their fund mix lets me slice and dice if I'm so inclined - e.g. I'd rather have FNDC than SCHC for international small-cap.

UpperNwGuy
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Re: Schwab expands commission free ETFs

Post by UpperNwGuy » Sun Feb 17, 2019 4:35 pm

Lots of overlap between Schwab and Fidelity on commission-free iShares ETFs.

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happenstance
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Re: Fidelity Expands Commission Free ETF list to over 500

Post by happenstance » Sun Feb 17, 2019 5:31 pm

drk wrote:
Tue Feb 12, 2019 6:17 pm
Here is the Schwab list. Nothing too exciting, except for more Treasury fund coverage. It looks like the list specifically excludes funds that would compete with Schwab’s own ETFs, so no ITOT, IJR, IDEV, IEMG, etc.

Actually, I reckon I overlooked the SPDR Portfolio additions. They compete directly with Schwab ETFs.
There are some good things in the list. I'm happy to see more muni bond ETFs (like SUB, MUB, and NYF), since I currently pay commission for NYF. It's also nice to have the RAFI FTSE funds to use for tax-loss harvesting with Schwab's RAFI Russell funds.

I do wish they had IXUS, since Schwab doesn't offer an international equivalent to SCHB – you have to combine SCHF, SCHC, and SCHE.

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Re: [Fidelity and Schwab Expand Commission Free ETF list]

Post by LadyGeek » Sun Feb 17, 2019 7:15 pm

I merged Jmh04j's thread into the on-going discussion. Both threads were discussing Fidelity and Schwab, so it made sense to combine them. I also retitled the thread for clarity.
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Re: Fidelity Expands Commission Free ETF list to over 500

Post by snailderby » Mon Feb 18, 2019 12:46 pm

happenstance wrote:
Sun Feb 17, 2019 5:31 pm
drk wrote:
Tue Feb 12, 2019 6:17 pm
Here is the Schwab list. Nothing too exciting, except for more Treasury fund coverage. It looks like the list specifically excludes funds that would compete with Schwab’s own ETFs, so no ITOT, IJR, IDEV, IEMG, etc.

Actually, I reckon I overlooked the SPDR Portfolio additions. They compete directly with Schwab ETFs.
There are some good things in the list. I'm happy to see more muni bond ETFs (like SUB, MUB, and NYF), since I currently pay commission for NYF. It's also nice to have the RAFI FTSE funds to use for tax-loss harvesting with Schwab's RAFI Russell funds.

I do wish they had IXUS, since Schwab doesn't offer an international equivalent to SCHB – you have to combine SCHF, SCHC, and SCHE.
+1

I was also happy to see MUB (municipal bonds) on the list, as well as IAGG (total international bond market), IUSB (total U.S. bond market + high-yield junk bonds), and iShares' U.S. treasury lineup (SHY, IEI, IEF, TLH, and TLT). Schwab also added several of iShares' single-factor funds (like MTUM, QUAL, VLUE, and USMV), but not iShares' multifactor funds (LRGF, SMLF, INTF, ISCF, and EMGF).

It's too bad Schwab didn't add iShares' S&P funds (like IJH, IJR, IJJ, and IJS) or iShares' total international fund (IXUS) though.

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Re: [Fidelity and Schwab Expand Commission Free ETF list]

Post by walletless » Mon Feb 18, 2019 2:57 pm

I think vanguard has won the "commission-feee ETF" war. They have by far the largest selection of all. The only way, I think, Fidelity or Schwab can make a move is to make vanguard ETFs commission free. That may encourage some folks to do in-kind transfer from Vanguard to Fidelity/Schwab without worrying about paying a fee to trade those ETFs. The idea that you can continue to hold vanguard funds at a brokerage with better customer support may be enticing for several people. However it is not clear how Schwab/Fidelity will profit from such customers without convincing to sell them more higher margin services or products.

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Re: [Fidelity and Schwab Expand Commission Free ETF list]

Post by Jack FFR1846 » Mon Feb 18, 2019 3:15 pm

walletless wrote:
Mon Feb 18, 2019 2:57 pm
I think vanguard has won the "commission-feee ETF" war. They have by far the largest selection of all. The only way, I think, Fidelity or Schwab can make a move is to make vanguard ETFs commission free. That may encourage some folks to do in-kind transfer from Vanguard to Fidelity/Schwab without worrying about paying a fee to trade those ETFs. The idea that you can continue to hold vanguard funds at a brokerage with better customer support may be enticing for several people. However it is not clear how Schwab/Fidelity will profit from such customers without convincing to sell them more higher margin services or products.
Add Vanguard.
However it is not clear how Schwab/Fidelity Vanguard will profit from such customers without convincing to sell them more higher margin services or products.
I don't know that I'd say Vanguard has won. I hold all my ETFs at Schwab and TDAmeritrade, including VTI. Nobody has tried to sell me anything. Also have well over a million at Fidelity, where nobody's tried to sell me anything and the cost is much lower than Vanguard. For completeness, I have an account at Vanguard but have started the motion to convert to ETF then move it out.....probably to TDAmeritrade.
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Re: Fidelity Expands Commission Free ETF list to over 500

Post by sunnywindy » Mon Feb 18, 2019 6:39 pm

snailderby wrote:
Mon Feb 18, 2019 12:46 pm
happenstance wrote:
Sun Feb 17, 2019 5:31 pm
drk wrote:
Tue Feb 12, 2019 6:17 pm
Here is the Schwab list. Nothing too exciting, except for more Treasury fund coverage. It looks like the list specifically excludes funds that would compete with Schwab’s own ETFs, so no ITOT, IJR, IDEV, IEMG, etc.

Actually, I reckon I overlooked the SPDR Portfolio additions. They compete directly with Schwab ETFs.
There are some good things in the list. I'm happy to see more muni bond ETFs (like SUB, MUB, and NYF), since I currently pay commission for NYF. It's also nice to have the RAFI FTSE funds to use for tax-loss harvesting with Schwab's RAFI Russell funds.

I do wish they had IXUS, since Schwab doesn't offer an international equivalent to SCHB – you have to combine SCHF, SCHC, and SCHE.
+1

I was also happy to see MUB (municipal bonds) on the list, as well as IAGG (total international bond market), IUSB (total U.S. bond market + high-yield junk bonds), and iShares' U.S. treasury lineup (SHY, IEI, IEF, TLH, and TLT). Schwab also added several of iShares' single-factor funds (like MTUM, QUAL, VLUE, and USMV), but not iShares' multifactor funds (LRGF, SMLF, INTF, ISCF, and EMGF).

It's too bad Schwab didn't add iShares' S&P funds (like IJH, IJR, IJJ, and IJS) or iShares' total international fund (IXUS) though.
Your eyes deceive you - LRGF and INTF are on the list.
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Re: [Fidelity and Schwab Expand Commission Free ETF list]

Post by SlowMovingInvestor » Mon Feb 18, 2019 6:53 pm

At this point, TDAM has one of the most restrictive ETF lists. IIRC, they don't even have a S&P 500 ETF !

I am thinking of sending them a message pointing out that almost all other major discount brokers (VG, Fido, Etrade, Schwab) have been expanding their portfolio of ETFs, and TDAM has been going in the opposite direction. I'm guessing SSGA pays them to distribute their ETFs and keep out rivals such as iShares (mostly) and Vanguard.

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Re: Fidelity Expands Commission Free ETF list to over 500

Post by snailderby » Mon Feb 18, 2019 8:21 pm

sunnywindy wrote:
Mon Feb 18, 2019 6:39 pm
snailderby wrote:
Mon Feb 18, 2019 12:46 pm
happenstance wrote:
Sun Feb 17, 2019 5:31 pm
drk wrote:
Tue Feb 12, 2019 6:17 pm
Here is the Schwab list. Nothing too exciting, except for more Treasury fund coverage. It looks like the list specifically excludes funds that would compete with Schwab’s own ETFs, so no ITOT, IJR, IDEV, IEMG, etc.

Actually, I reckon I overlooked the SPDR Portfolio additions. They compete directly with Schwab ETFs.
There are some good things in the list. I'm happy to see more muni bond ETFs (like SUB, MUB, and NYF), since I currently pay commission for NYF. It's also nice to have the RAFI FTSE funds to use for tax-loss harvesting with Schwab's RAFI Russell funds.

I do wish they had IXUS, since Schwab doesn't offer an international equivalent to SCHB – you have to combine SCHF, SCHC, and SCHE.
+1

I was also happy to see MUB (municipal bonds) on the list, as well as IAGG (total international bond market), IUSB (total U.S. bond market + high-yield junk bonds), and iShares' U.S. treasury lineup (SHY, IEI, IEF, TLH, and TLT). Schwab also added several of iShares' single-factor funds (like MTUM, QUAL, VLUE, and USMV), but not iShares' multifactor funds (LRGF, SMLF, INTF, ISCF, and EMGF).

It's too bad Schwab didn't add iShares' S&P funds (like IJH, IJR, IJJ, and IJS) or iShares' total international fund (IXUS) though.
Your eyes deceive you - LRGF and INTF are on the list.
So they are! Thanks for the correction.

WisdomTree's DLS and DGS are also on the list, for those who like those funds.

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Re: [Fidelity and Schwab Expand Commission Free ETF list]

Post by whodidntante » Thu Feb 28, 2019 6:40 pm

Fidelity has updated their list of commission free iShares ETFs and also launched some new Fidelity ETFs. I haven't had time to pour over the offerings, but a couple of interesting additions jumped out:

ICSH iShares Ultra Short-Term Bond ETF
FDEM FIDELITY TARGETED EMERGING MARKETS FACTOR ETF

https://www.fidelity.com/etfs/overview

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Re: [Fidelity and Schwab Expand Commission Free ETF list]

Post by mervinj7 » Thu Feb 28, 2019 7:26 pm

whodidntante wrote:
Thu Feb 28, 2019 6:40 pm
Fidelity has updated their list of commission free iShares ETFs and also launched some new Fidelity ETFs. I haven't had time to pour over the offerings, but a couple of interesting additions jumped out:

ICSH iShares Ultra Short-Term Bond ETF
FDEM FIDELITY TARGETED EMERGING MARKETS FACTOR ETF

https://www.fidelity.com/etfs/overview
ICSH looks very promising for short term holdings. Duration is 0.43 years with SEC yield of 2.87% and ER of 0.08%. Could be good for downpayments, etc assuming Treasury bills don't work out tax-wise.

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Schwab’s New Commison Free List

Post by glennherwig » Tue Mar 05, 2019 10:02 am

[Thread merged into here, see below. --admin LadyGeek]

So happy with thier new list. So many great products like TLT, SHY and other treasury ETFs. Also EMB is on there. I like their liquid alt ETFs too from index IQ. They saved my portfolio this past bear market in December. Who else loves Schwab?! I know I do. Every time I call them they are super. They really care about your service. Just opened a checking account with them last week. I also have the Schwab investor Amex card. I could go on and on. But if you are thinking of switching brokers Schwab is the one in my opinion. :sharebeer

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Re: Schwab’s New Commison Free List

Post by sabhen » Tue Mar 05, 2019 10:10 am

Can you share what did you do to save your portfolio from last fall in Q4?

glennherwig
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Re: Schwab’s New Commison Free List

Post by glennherwig » Tue Mar 05, 2019 10:31 am

Here’s a list of my holdings.

SCHG for the equity component

TLT for the bond component

SGOL-Gold

Now for the Liquid Alts,

QED-event driven

MCRO- Macro hedge fund index

QMN- Market Neutral

QAI- Multi Strategy

WTMF-managed futures

DYLS- Long/Short Equity


Yes Expense Ratios are higher on these products. But I’m happy my portfolio only dipped 5% while markets went down 20%.

michaeljmroger
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Re: Schwab’s New Commison Free List

Post by michaeljmroger » Tue Mar 05, 2019 10:46 am

I was already very happy with Schwab before that. I don't really understand what makes you so happy about the funds you list to be honest. For instance, instead of SHY, you could just use Schwab's SCHO which is less than half the price.

Although, one fund that does make me happy to see commission-free at Schwab is MUB because they don't have a good in-house muni bond ETF.

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Re: Schwab’s New Commison Free List

Post by aristotelian » Tue Mar 05, 2019 10:50 am

For me the big addition is SPDW (State Street Developed World ex-US). Up until now, FNDF (Schwab Fundamental Large Cap, ER .20%) has been the best international tax loss harvesting option for SCHF. Also SPEM (Emerging Markets) to partner with SCHE.

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Re: Schwab’s New Commison Free List

Post by drk » Tue Mar 05, 2019 11:05 pm

aristotelian wrote:
Tue Mar 05, 2019 10:50 am
For me the big addition is SPDW (State Street Developed World ex-US). Up until now, FNDF (Schwab Fundamental Large Cap, ER .20%) has been the best international tax loss harvesting option for SCHF. Also SPEM (Emerging Markets) to partner with SCHE.
Agreed. SPDW and SPEM also include small-caps, which is nice.

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Re: [Fidelity and Schwab Expand Commission Free ETF list]

Post by LadyGeek » Wed Mar 06, 2019 4:21 pm

I merged glennherwig's thread into the on-going discussion.
Wiki To some, the glass is half full. To others, the glass is half empty. To an engineer, it's twice the size it needs to be.

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