Schwab Asset Management®, the asset management arm of The Charles Schwab Corporation, today announced there will be no capital gains distributions for the 2023 tax year by any of the 30 exchange-traded funds (ETFs) in the Schwab ETF family.
“Schwab ETFs delivered another year of zero capital gains, adding to a strong track record of tax efficiency,” said Nicohl Bogan, Director of Product Strategy and Development, Schwab Asset Management. “Investors continue choosing ETFs for low-cost access to a range of asset classes and strategies, and tax efficiency in a variety of market environments.”
Schwab Asset Management is the fifth largest provider of ETFs with more than $306 billion in ETF assets1. With an average asset-weighted operating expense ratio of 8 bps, Schwab ETFs span six asset classes. Schwab Asset Management continued driving lower costs for investors in 2023 aligning operating expense ratios for all its fixed income ETFs at three basis points. The firm also launched the Schwab High Yield Bond ETF (NYSE Arca: SCYB), bringing investors simple, low-cost access to the U.S. dollar denominated high yield corporate bond market.
About Schwab Asset Management
One of the industry’s largest and most experienced asset managers, Schwab Asset Management offers a focused lineup of competitively priced ETFs, mutual funds and separately managed account strategies designed to serve the central needs of most investors. By operating through clients’ eyes, and putting them at the center of our decisions, we aim to deliver exceptional experiences to investors and the financial professionals who serve them. As of September 30, 2023, Schwab Asset Management managed approximately $928.7 billion on a discretionary basis and $30.9 billion on a non-discretionary basis. More information is available at www.schwabassetmanagement.com.
About Charles Schwab
At Charles Schwab we believe in the power of investing to help individuals create a better tomorrow. We have a history of challenging the status quo in our industry, innovating in ways that benefit investors and the advisors and employers who serve them, and championing our clients’ goals with passion and integrity.