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Rating:A Discount Brokerage Joins the ETF Biz Not Rated 0.0 Email Routing List Email & Route  Print Print
Monday, March 28, 2011

A Discount Brokerage Joins the ETF Biz

News summary by MFWire's editors

Another discount brokerage is throwing its gauntlet into the ETF price war. The Wall Street Journal's Jane Kim reports that Scottrade will release 15 ETFs of its own on Wednesday, tracking 15 Morningstar domestic equity indexes. Like Schwab and Vanguard with their own ETFs, and like Fidelity with some iShares offerings, Scottrade will offer the Focus Morningstar ETFs commission-free to its own clients and through the advisors it serves as custodian fee.

The new ETFs will range in price from five to 19 basis points, which the WSJ claims will make them slightly cheaper than those offered by iShares, Schwab, State Street Global Advisors or Vanguard. 

Edited by: Neil Anderson, Managing Editor

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