Schwab's latest ETFs feature portfolio management

The Charles Schwab Corp. today announced the launch of six new managed portfolios of exchange-traded funds available through a fee-based portfolio advisory program. “Investors today are looking for more help managing the risk in their investments, while striving for an appropriate level of return that helps them get the most out of their money,” Ben Brigeman, executive vice president of Schwab's investor services division, said in a statement. Not surprisingly, diversification is key to the funds. Schwab Managed Portfolios-ETFs hold as many as two dozen different ETFs offering investments across all the major equity and fixed-income asset classes, as well as real estate and commodities. The portfolios have an investment minimum of $100,000 and a program management fee of 0.75% for the first $500,000 in assets, 0.65% for the next $500,000 and 0.50% for assets over $1 million. The new managed portfolios of ETFs follow initiatives at Schwab in November 2009 when the company announced that it would be offering its own suite of ETFs commission-free for clients with Schwab accounts.