Schwab, Fidelity to Expand Commission-Free ETFs in Price War
- The two firms announced their plans within hours of each other
- The ‘Vanguard effect’ is now hitting ETFs, analyst says
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Charles Schwab Corp. and Fidelity Investments announced dueling plans to expand their commission-free exchange-traded funds, escalating a price war to win investors.
Schwab will double its suite of no-commission ETFs starting March 1, bringing its total to more than 500. Fidelity is nearly doubling the number of ETFs on its platform to more than 500 products, including additional iShares ETFs as of Feb. 28. Both companies announced their plans Tuesday.