Schwab Asset Management To Launch The Schwab Mortgage-Backed Securities ETF "SMBS" On Or About November 19
Benzinga Newsdesk 1 year ago
ETFs
Schwab Asset Management®, the asset management arm of The Charles Schwab Corporation, today announced the launch of the Schwab Mortgage-Backed Securities ETF (NYSE:SMBS). The first day of trading is expected to be
Schwab Asset Management®, the asset management arm of The Charles Schwab Corporation, today announced the launch of the Schwab Mortgage-Backed Securities ETF (NYSE:SMBS). The first day of trading is expected to be on or about November 19.
With an expense ratio of 0.03%, the Schwab Mortgage-Backed Securities ETF is priced in line with the lowest-priced peer ETFs based on the U.S. Mortgage Lipper category1. The ETF will provide simple access to investment-grade mortgage-backed securities issued and/or guaranteed by U.S. government agencies. It is designed to serve as part of a diversified portfolio.