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July 30, 2024 at 12:47 PM
Charles Schwab’s asset management arm announced Tuesday its first actively managed fixed income exchange-traded fund, the Schwab Ultra-Short Income ETF (NYSE Arca: SCUS), which is expected to start trading around Aug. 13.
With an expense ratio of 0.14%, the Schwab Ultra-Short Income ETF is priced below the industry average of 0.25%, Schwab Asset Management said.
The ETF, designed to fit into a diversified portfolio, will offer access to U.S. dollar-denominated investment-grade bonds from U.S. and foreign issuers and will maintain a portfolio duration of a year or shorter term.
“The Schwab Ultra-Short Income ETF is a notable addition to the Schwab family of ETFs as investors continue to seek out cost-effective, income-producing strategies to help diversify their portfolios,” said David Lafferty, Schwab Asset Management director, product strategy and development.
