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Schwab Asset Management announced the launch of the Schwab Municipal Bond ETF (NYSE Arca: SCMB), expected to begin trading on or about October 12. The ETF features an expense ratio of 0.03%, positioning it as a low-cost option within the municipal bond market, targeting tax-exempt income. This launch marks Schwab's eighth bond ETF and 29th ETF overall, enhancing its competitive lineup. The ETF aims to track the ICE AMT-Free Core U.S. National Municipal Index and is designed for efficient income and risk management.
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