Charles Schwab launches ETF based on Dow Jones U.S. Dividend 100 index

By Tali David

Minneapolis, Oct. 20 -Charles Schwab launched its new U.S. Dividend Equity ETF based on the Dow Jones U.S. Dividend 100 Index.

The new exchange-traded fund, which will trade on the NYSE Arca under the symbol SCHD, offers investors the potential for current income as well as capital appreciation through exposure to companies with a record of paying consistent dividends and strong relative fundamental strength, according to a company release.

Schwab also said in its release that the new fund has a 0.17% operating expense ratio and can be bought and sold commission-free online in Schwab accounts.

"We've worked hard to construct a fund that offers investors the potential for both current income and capital appreciation in one low-cost ETF, and we're pleased with the outcome," John Sturiale, vice president of product management at Schwab, said in the release.

Charles Schwab Corp. is a New-York based provider of financial services.

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