Schwab files with SEC to create its first ETF

02/23/2009 | InvestmentNews (free registration)

Charles Schwab filed with the Securities and Exchange Commission to create a an exchange-traded fund tracking the Dow Jones U.S. Total Stock Market Index, marking the investment manager's first move into ETF formation. James Pacetti, president of ETF International Associates, said the move will likely spur major mutual-fund firms to create ETFs as well.

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