The Morningstar Rating for funds, or "star rating", is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Schwab also may receive remuneration from transaction fee fund companies for certain administrative services. Funds are also subject to management fees and expenses.Ĭharles Schwab & Co., Inc., member of SIPC, receives remuneration from fund companies for record keeping, shareholder services, and other administrative services for shares purchased through its Mutual Fund OneSource service. Schwab reserves the right to change the funds we make available without transaction fees and to reinstate fees on any funds. For each of these trade orders placed through a broker, a $25 service charge applies. Trades in no-load mutual funds available through Mutual Funds OneSource service (including SchwabFunds) as well as certain other funds, are available without transaction fees. Funds are also subject to management fees and expenses.
Schwab reserves the right to exempt certain funds from this fee, including Schwab Funds®, which may charge a separate redemption fee, and funds that accommodate short-term trading. Schwab's short-term redemption fee of $49.95 will be charged on redemption of funds purchased through Schwab's Mutual Fund OneSource® service (and certain other funds with no transaction fee) and held for 90 days or less. If an expense waiver was in place during the period, the net expense ratio was used to calculate fund performance. Investment value will fluctuate, and shares, when redeemed, may be worth more or less than original cost. Past performance does not guarantee future performance. Please read the prospectus carefully before investing. You can view, download, and print a prospectus by clicking on Prospectus & Reports or by calling 1-80. Investors should consider carefully information contained in the prospectus or, if available, the summary prospectus, including investment objectives, risks, charges and expenses. Schwab's Financial and Other Relationships with Mutual Funds To find out more about trading Interval Funds, please read Interval Funds: What you need to know. In such event, shareholders may not be able to sell their expected amount, and would potentially experience increased illiquidity and market exposure, which could increase the potential for investment loss. If repurchase requests exceed the number of shares that a fund offers to repurchase during the repurchase period, repurchases are prorated (reduced by the same percentage across all trades) prior to processing. The actual repurchase will occur at a later, specified date. The fund will specify a date by which shareholders must accept the repurchase offer. Instead, periodic repurchase offers are made to shareholders by the fund.
Rules and regulations related to interval funds enable fund companies to create portfolios with less capital volatility while holding a greater percentage of less-liquid, longer-term investments, often with higher risk-return opportunities than may be readily achieved in open-end mutual funds or exchange-traded funds (ETFs).Īlthough interval fund purchases resemble open-end mutual funds in that their shares are typically continuously offered and priced daily, they differ from traditional closed-end funds in that their shares are not sold on a secondary market. Interval funds are closed-end funds that offer daily purchases and redeem shares by periodically offering to repurchase a certain portion of shares from shareholders ("tenders" or "redemptions"). Interval funds are not available for purchase by individual investors.
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