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A small difference in fund expenses can make a big difference in your returns.

  • Lowest costs in the industry on market cap index funds and ETFs with no minimums.
  • Everyone pays the same for Schwab index funds—whether you have $5 or $5 million.

Take advantage of the lower costs.

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Here's how Schwab market cap index fund expenses compare.1

Schwab Vanguard Fidelity
Multi-Cap Core
Schwab Total Stock Market Index Fund® Vanguard Total Stock Market Index Fund Fidelity Total Stock Market Index Fund
$3K Investment 0.03% 0.15% 0.09%
$10K Investment 0.03% 0.04% 0.045%
$5M Investment 0.03% 0.03% 0.035%
S&P 500 Index
Schwab® S&P 500 Index Fund Vanguard 500 Index Fund Fidelity 500 Index Fund
$3K Investment 0.03% 0.14% 0.09%
$10K Investment 0.03% 0.04% 0.045%
$5M Investment 0.03% _.__%2 0.035%
Large-Cap Core
Schwab 1000 Index® Fund Vanguard Large-Cap Index Fund Fidelity
$3K Investment 0.05% 0.18% N/A
$10K Investment 0.05% 0.06% N/A
$5M Investment 0.05% 0.05% N/A
Small-Cap Core
Schwab Small-Cap Index Fund® Vanguard Small-Cap Index Fund Fidelity Small Cap Index Fund
$3K Investment 0.05% 0.18% 0.19%
$10K Investment 0.05% 0.06% 0.07%
$5M Investment 0.05% 0.05% 0.06%
International Multi-Cap Core
Schwab International Index Fund® Vanguard Developed Markets Index Fund Fidelity International Index Fund
$3K Investment 0.06% 0.17% 0.19%
$10K Investment 0.06% 0.07% 0.08%
$5M Investment 0.06% 0.06% 0.06%
Core Bond
Schwab® U.S Aggregate Bond Index Fund Vanguard Total Bond Market Index Fund Fidelity US Bond Index Fund
$3K Investment 0.04% 0.15% 0.15%
$10K Investment 0.04% 0.05% 0.05%
$5M Investment 0.04% 0.04% 0.04%
Short Investment Grade
Schwab® Short-Term Bond Index Fund Vanguard Short-Term Bond Index Fund N/A
$3K Investment 0.06% 0.15% N/A
$10K Investment 0.06% 0.07% N/A
$5M Investment 0.06% 0.05% N/A
Inflation-Protected
Schwab® Treasury Inflation Protected Securities Index Fund Vanguard Short-Term Inflation-Protected Securities Index Fund Fidelity Inflation-Protected Bond Index Fund
$3K Investment 0.05% 0.16% 0.19%
$10K Investment 0.05% 0.07% 0.09%
$5M Investment 0.05% 0.04% 0.06%

See how our Schwab market cap ETFs compare

1. The table is based on net expense ratio data comparisons between Schwab market-cap index mutual funds and non-Schwab market-cap index mutual funds. The non-Schwab mutual funds shown represent Vanguard and Fidelity index mutual funds with the lowest expense ratio with a $10,000 minimum investment within their fund family in their respective Lipper category. Schwab operating expense ratios (OERs) listed reflect OERs as of 3/1/17. Competitor net OERs represent the lowest OERs reported from annual reports, prospectuses, and Strategic Insight Simfund, as reflected on 2/24/17. Funds in the same Lipper category may track different indexes, have differences in holdings, and show different performance. Competitors may offer more than one market-cap index mutual fund in a Lipper category, including funds that are not market-cap index mutual funds. Expense ratios are subject to change.

2. An Institutional share class is expected to become available on 4/11/17 with an OER of 0.035%, according to an amended prospectus filing on 3/10/17. Vanguard offers the Vanguard Institutional Index Fund—Institutional class at 0.04%, which is a separate fund from the Vanguard 500 Index Fund, but is designed to track the S&P 500 Index.

Ask us your questions.

  • Why is Charles Schwab Investment Management lowering expenses and removing investment minimums across all Schwab index mutual funds?

    Charles Schwab Investment Management is committed to providing the quality products our partners and clients need, with competitive expenses. Schwab market cap index mutual funds and ETFs now have the lowest expenses in the industry because a small difference in costs can make a big difference in your returns. And we’re removing investment minimums on index funds to make investing accessible for every investor.

  • I am an existing client in one or more Schwab index mutual funds or ETFs. What should I do to take advantage of the lower expenses?

    You don't have to do anything. If you currently invest in one or more of Schwab’s index mutual funds and ETFs, your total operating expenses will automatically be reduced to the new effective management fee on March 1, 2017 (changes to Fundamental Index® mutual funds not effective until 5/1**).

    **With the exception of Schwab Fundamental Emerging Markets Large Company Index Fund, all changes are pending shareholder approval of an Amended and Restated Investment Advisory and Administration Agreement. Fundamental Index is a registered trademark of Research Affiliates, LLC.

  • How is Charles Schwab Investment Management able to offer its index mutual funds and ETFs to clients at such low expense levels?

    We are able to offer these products at competitive expenses because of our scale and by improving efficiency through our operations.

  • Will the Schwab index mutual funds still be available on Schwab Mutual Fund and ETF OneSource® platforms?

    Yes. All of Schwab’s index mutual funds and ETFs will continue to be offered on the Mutual Fund OneSource and ETF OneSource platforms.

  • Have more questions?

    Call us at 877-804-3521 if you have more questions or need assistance.


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Investors should consider carefully information contained in the prospectus or, if available, the summary prospectus, including investment objectives, risks, charges, and expenses. Please read it carefully before investing.