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Scottrade’s New Commission Free ETFs
Scottrade (read our full review) has launched its own offering of 15 ETFs tracking small-cap, mid-cap, and large-caps in 11 different sectors. It will be providing them through it’s recent acquisition, FocusShares. Their pricing is one of the cheapest out there with only .05% a year for standard funds and .19% for most sector based funds. Comparatively speaking for example in U.S. Market Index funds, Charles Schwab and Vanguard carry a .06% and .07% respectively.
The new offerings are licensed from Morningstar, Inc and you can use a Scottrade account or any other online broker that supports ETFs to invest in them. Obvioulsy Scottrade clients get the added benefit of $0 ETF trade commissions and can use their nifty ETF Screener to assist in developing an investment strategy. ETFs, or Exchange-Traded Funds, were covered in a 4 part special series here on stockbrokers.com (Article One, Two, Three, Four).
Here is the full list of 15 ETFs currently available (as of 3/30/11):
- Focus ™ Morningstar US Market Index ETF (Ticker: FMU)
- Focus ™ Morningstar Large Cap Index ETF (Ticker: FLG)
- Focus ™ Morningstar Mid Cap Index ETF (Ticker: FMM)
- Focus ™ Morningstar Small Cap Index ETF (Ticker: FOS)
- Focus ™ Morningstar Basic Materials Index ETF (Ticker: FBM)
- Focus ™ Morningstar Communication Services Index ETF (Ticker: FCQ)
- Focus ™ Morningstar Consumer Cyclical Index ETF (Ticker: FCL)
- Focus ™ Morningstar Consumer Defensive Index ETF (Ticker: FCD)
- Focus ™ Morningstar Energy Index ETF (Ticker: FEG)
- Focus ™ Morningstar Financial Services Index ETF (Ticker: FFL)
- Focus ™ Morningstar Healthcare Index ETF (Ticker: FHC)
- Focus ™ Morningstar Industrials Index ETF (Ticker: FIL)
- Focus ™ Morningstar Real Estate Index ETF (Ticker: FRL)
- Focus ™ Morningstar Technology Index ETF (Ticker: FTQ)
- Focus ™ Morningstar Utilities Index ETF (Ticker: FUI)
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