The latest news in investment offerings, financial products and other services relative to wealth advisors and their clients.

Charles Schwab
Schwab Asset Management™, part of Charles Schwab, has launched the Schwab High Yield Bond ETF. The exchange-traded fund is listed in New York and its first trading day is expected to be on or about July 11.

The ETF has an expense ratio of 0.10 per cent. It provides access to the US dollar denominated high yield corporate bond market.

“The Schwab High Yield Bond ETF is a timely addition to our line-up of fixed income ETFs as investors continue to seek out low-cost, straightforward products that help diversify their portfolios,” Nicohl Bogan, director of product strategy and development, Schwab Asset Management. 

The goal of the Schwab High Yield Bond ETF is to track as closely as possible, before fees and expenses, the total return of the ICE BofA US Cash Pay High Yield Constrained Index. 

The new ETF is Schwab Asset Management’s ninth bond ETF and the 30th Schwab ETF overall.