Charles Schwab Investment Management has filed a registration statement with the SEC for its first actively managed exchange-traded fund.
The fund, the Schwab Ariel ESG ETF, also will be Schwab’s first fund based on environmental, social and governance criteria.
The fund will be sub-advised by Ariel Investments and make its holdings public with a 60-day lag via periodic regulatory filings. However, the fund will post a daily proxy portfolio.
The new ETF will be listed on the NYSE and invest primarily in small- and mid-cap stocks that fall into the range of the Russell 2500 index and meet criteria set by Ariel Investments’ ESG strategy.
