Charles Schwab Corp.’s 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 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 , 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 , Schwab Tax-Free Bond Fund , and Schwab California Tax-Free Bond Fund . Shares of Charles Schwab are up 3% in premarket trades on Tuesday.
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