Charles Schwab's asset management arm today announced the new Schwab High Yield Bond ETF (NYSE Arca: SCYB), which is expected to start trading on or near July 11.
The ETF's 0.10% expense ratio is in line with the lowest fee ETFs in the Morningstar High Yield Bond category, Schwab said. The fund will provide simple access to the U.S. dollar-denominated high-yield corporate bond market and can play a role in a diversified portfolio, the firm said.
"The Schwab High Yield Bond ETF is a timely addition to our lineup of fixed income ETFs as investors continue to seek out low-cost, straightforward products that help diversify their portfolios," said Nicohl Bogan, Schwab Asset Management director of product strategy and development.
