Charles Schwab shaves fees on seven passive ETFs and three actively-managed ETFs

Charles Schwab Corp.’s
SCHW,
+3.35%
Schwab Asset Management unit said Tuesday it’ll trim operating expense ratios of seven passively managed exchange-traded funds (ETFs) and three actively managed mutual funds. The changes are in addition to fee reductions that took effect in December for five of the seven fixed income ETFs included in Tuesday’s price cut. Among the seven ETFs with price cuts, the Schwab U.S. TIPS ETF
SCHP,
+0.44%
is the largest with about $15.6 billion in assets under management. Schwab U.S. TIPS ETF’s operating expense ratio will move down to 0.04% from 0.05%. The Schwab Short-Term U.S. Treasury ETF
SCHO,
-0.02%,
with AUM of $8.7 billion, will reduce its operating expense ratio to 0.3% from 0.4%. Schwab is also cutting fees on three actively managed funds: Schwab Global Real Estate Fund
SWASX,
+1.41%,
Schwab Tax-Free Bond Fund
SWNTX,
-0.09%,
and Schwab California Tax-Free Bond Fund
SWCAX,
-0.09%.
Shares of Charles Schwab are up 3% in premarket trades on Tuesday.