John Sturiale News Today

Schwab Asset Management, the asset management arm of The Charles Schwab Corp., launched the Schwab Municipal Bond ETF (NYSE Arca: SCMB).

The launch helps Schwab to broaden its footprint in munis, allowing the firm to expand its line-up for investors who are looking for broad muni exposure at a much lower price point.

The Schwab Municipal Bond ETF, will be the cheapest in the municipal-bond market with an expense ratio.