FocusShares has priced some of its funds to undercut competing products from the ETF industry’s low-cost providers, Vanguard and Schwab, Index Universe reports. FocusShares’ Morningstar U.S. Market Index ETF will undercut the Schwab U.S. Broad Equity ETF by 0.01 percentage point, while its Morningstar Large Cap Index ETF will undercut Vanguard’s S&P 500 ETF.
The company is also set to launch new 15 U.S. equity funds, which will use Morningstar indexes and cover just about every investment sector and style in the U.S. equities universe. The company’s parent, Scottrade, will provide its customers free trading on the new FocusShares ETFs.
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