Free ETF Trading: Comparing All The Options

by on October 22, 2010 | Updated July 9, 2014

As the ETF world continues to grow, the competitive landscape continues to evolve. A growing number of firms have attempted to differentiate themselves by offering unique exposure to asset classes and strategies not previously available–such as funds tracking the Philippine stock market or ETNs linked to the price of industrial metals such as zinc or tin. More recently, the ETF industry has witnessed escalating price wars, with multiple issuers lowering management fees in an attempt to lure cost-conscious investors. These price wars have sent expense ratios to as low as six basis points, much to the delight of investors accustomed to forking over upwards of 1.5% annually to active mutual funds. But many ETF issuers have recognized that the total cost of ETF investing goes beyond just expense ratios, and have aggressively marketed programs designed to save investors money when executing ETF trades [see The Total Cost Of ETF Investing]. 

As a way to stand out–or perhaps to keep pace–a number of brokerage houses have signed deals to offer commission-free ETF trading as a way to entice new clients who have embraced the benefits of exchange-traded funds. This developments has added an additional consideration for ETF-savvy financial advisors looking to maximize client returns by minimizing fees, and has the potential to be a major factor for investors choosing between two otherwise (nearly) identical funds. Consider the case of IVV and SPY: both track the S&P 500 and have expense ratios of 0.07% and 0.09% respectively. Commission-free trading options could be the deciding factor for an increasing number of investors [see Free Report: How To Pick The Right ETF Every Time].

Although commission-free ETF trading is a relatively new concept, several of the biggest players in the space have begun to offer these programs to their clients. Not surprisingly, the scopes of these programs vary, and there are several advantages and limitations for investors each. Below we profile some of the key differences between the free ETF trading systems available to investors today.

Vanguard

4 Most Popular Commission Free
Ticker Name Avg. Volume (3 month)  Assets ($M)
VWO Vanguard MSCI Emerging Markets ETF 12,571,484 46,660.3
VNQ Vanguard REIT ETF 3,044,655 23,926.3
VEA Vanguard MSCI EAFE ETF 3,293,798 23,733.5
VGK Vanguard MSCI European ETF 3,219,800 17,484.4

Vanguard, famous for its low-cost hands-off approach, offers all of its 62 ETFs commission-free to its clients. The company is probably best known for its ultra-cheap Emerging Markets Fund (VWO) and its REIT ETF (VNQ) which have close to $47 billion and $24 billion under management, respectively. Vanguard also offers clients access to a host of government and corporate bond funds including an Extended Duration Treasury Index Fund (EDV) and even a Mortgage Backed Security (VMBS) option as well. Vanguard’s ETF lineup includes all the tools to build a long-term portfolio, including a number of U.S. and international equity options, as well as various broad-based and targeted bond funds [see Vanguard's complete ETF lineup].

While Vanguard offers an extremely robust product lineup, the offering of commission-free ETFs does have a few holes. Currently, Vanguard’s ETF lineup includes nothing in the way of commodities, international bonds, or munis, and the level of granularity available (e.g., country-specific funds). Nevertheless, Vanguard offers perhaps the most comprehensive free-ETF trading platform– and considering that the average expense ratio is around 16 basis points, paves the ways for investors to minimize all components of the cost equation [also see Vanguard Ups The Ante, Launches Russell ETFs].

It’s also worth noting that Vanguard brokerage clients will be charged either $2 or $7 for trading of non-Vanguard ETFs, rates that stack up favorably to the rest of the industry.

Charles Schwab

5 Most Popular Commission Free ETFs
Ticker Name Avg. Volume (3 month) Assets ($M)
SCHB US Broad Market 355,816 3,502.8
SCHX US Large Cap 315,300 2,938.6
SCHF International Equity 320,127 2518.4
SCHD Dividend Equity 298,856 1,959.0
SCHA US Small Cap 239,031 2,107.6

Schwab‘s entrance into the ETF industry came long after many of its rivals had established footholds in the space, but the San Francisco-based firm made a splash when it launched its first ETFs late in 2009. The firm made trading of its ETFs commission-free for Schwab from the get-go, likely prompting other competitors to follow suit. Schwab currently offers clients a diversified mix of its 11 branded ETFs available to its investors free from commissions. The company’s lineup includes  a variety of bond, international equity and domestic equity ETFs, all of which have expense ratios less than 20 basis points and come in at an average of just 0.08%. These low cost options include a short and intermediate Treasury funds, as well as a TIPS product in the bond space. Schwab’s ETF lineup focuses on portfolio building blocks, and as such doesn’t offer much in the way of targeted securities. Investors could easily make a solid–albeit it basic–portfolio with just the 15 commission free products offered from Schwab.

Because Schwab is still building out its ETF lineup, the free offerings are somewhat limited. While the equity offering cover all the bases, missing are ETFs offering exposure to muni bonds, junk bonds, or investment grade corporate bonds.  Investors looking for commodity exposure won’t find it from Schwab. That could all change over the years, as the company has continuing plans to continue beefing up its ETF lineup, but for the time being there are some holes in the product offering blanket [also read Schwab ETFs Could Be A Gamechanger].

Fidelity

5 Most Popular Commission Free ETFs
Ticker Name Avg. Volume (3 month) Assets ($M)
EEM MSCI Emerging Markets Index 51,547,272 39,911.2
IWM Russell 2000 Index 47,734,956 28,569.4
EFA MSCI EAFE Index 14,354,550  56,405.4
IYR Dow Jones US Real Estate Index 9,172,451 4,973.7
IVV iShares Core S&P 500 3,108,583 57,035.5

The Boston-based financial giant has teamed up with iShares to offer 30 commission free ETFs from the world’s number one ETF issuer, as well as free trading on Fidelity’s Nasdaq Composite Index Fund (ONEQ). The selection from Fidelity consists of the most popular iShares ETFs, including the popular Russell 2000 Fund (IWM), S&P 500 Fund (IVV), S&P Mid Cap 400 (IJH) Fund, just to name a few. Additionally, the program offers seven international equity index funds–ACWIEFASCZEEM, EMB, IDV, ACWX–which should allow investors to achieve a high level of international exposure across both emerging and developed markets. In the fixed income arena, Fidelity offers investors commission-free access to five funds including its extremely popular AGGTIP, and LQD. The company also offers exposure to the municipal bond market through MUB and emerging market bonds denominated in U.S. dollars with EMB [see Fidelity's complete ETF lineup].

Not included in the list of commission-free ETFs are any commodity products, such as the physically-backed gold (IAU) and silver (SLV) ETFs or the futures-based GSG. Also not included are country-specific equity funds, including the ultra-popular Brazil (EWZ) and China (FXI) ETFs. In the fixed income space, the iBoxx $ High Yield Corporate Bond Fund (HYG) is the biggest omission [check out the Cheapskate ETF db Portfolio].

Interactive Brokers

5 Most Popular Commission Free ETFs
Ticker Name Avg. Volume (3 month) Assets ($M)
SIL Global X Silver Miners ETF 193,453 262.1
GXG Global X FTSE Columbia 20 ETF 118,675 119.4
SDIV Global X SuperDividened ETF 290,078 1,105.9
URA Global X Uranium ETF 257,398 236.3
GLDX Global X Gold Explorers ETF 44,034 49.6

This relatively low key portfolio has a wide range of Global X funds with a heavy focus in commodities and the countries that can impact this highly volatile industry. The selection includes many funds that are often overlooked, such as SIL, but offer great specialized exposure to assets such as silver miners or gold explorers (GLDX). The focus on commodity rich companies on embeds the focus of this portfolio, including countries such as Columbia (GXG), Argentina (ARGT), and Norway (NORW) gives steady growth even within the commodity concentration, make sure to check out the nearly 50 commission free products offered from Interactive Brokers.

Only five of the funds included are exclusively traded commission free with Interactive Brokers and all of these, FSU,FSA, FSE, FOL, and FSG are leveraged funds. Excluding these funds, every thing else in the portfolio is also available to E*Trade users. There is also a general lose of fixed income, which could be key to evening out the earnings of a commodity based portfolio [see also How To Invest Overseas (Without Currency Risk)].

E*Trade

5 Most Popular Commission Free ETFs
Ticker Name Avg. Volume (3 month) Assets ($M)
EPI WisdomTree India Earnings Fund 4,518,778 1,651.4
DEM WT Emerging Markets High-Yield Equity 440,131 3,947.0
SIL Global X Silver Miners ETF 193,453 262.1
DTN WisdomTree Dividend Top 100 Fund 33,513 1,210.7
GXG Global X FTSE Colombia 20 ETF 118,675 119.4

The newest entrant on this list has is making up for lost time by offering around 90 commission free ETFs from issuers including Global X, WisdomTree, and db-X (Deutsche Bank). The selection of products ranges from international bonds, key asset classes, commodity producers and more. Upon launch, the immediate stand out ETFs were the WisdomTree Emerging Markets Equity Income Fund (DEM), the Emerging Markets Local Debt Fund (ELD), and the ex-Financials Fund (DTN) but investors also started to discover some commodity funds with Global X, including the Silver Miners ETF (SIL), Uranium ETF (URA), and Colombia ETF (GXG) [see E*Trade's complete ETF lineup].

All of your bases are covered with E*Trade, but one main difference is no ETF with E*Trade has a lower expense ratio than 28 basis points, a much higher price to pay compared to the price war ETFs that are also commission free. This could be why the trading levels with these ETFs are much less impressive, with even the most popular fund only trading 3 million times a day. With this great exposure there are some drawbacks, and investors should consider just how many options they need before investing [see also E*Trade Joins the Commission Free ETF Party].

Firstrade

5 Most Popular Commission Free ETFs
Ticker Name Avg. Volume (3 month) Assets ($M)
VWO MSCI Emerging Markets ETF 12,571,484 46,660.3
FXI iShares FTSE China 25 Index Fund 17,532,520 4,777.8
IVV MSCI EAFE Index 3,108,370  57,035.5
DBC Dow Jones US Real Estate Index 1,668,034 5,702.6
IJH iShares Core S&P 500 989,313 25,045.5

This young and privately owned discount stock brokerage firm from upstate New York was first known for its special offering of Chinese online trading sites and telephone help lines, opening up the american stock exchanges to trading to non English speakers. Much like E*Trade, this business could not exist without internet innovations and the growing number of part time traders interested in new products, but unlike its main competitor there are only 10 funds to choose from. Even in this small portfolio there is a range of equity funds, from the Core S&P 500 ETF (IVV) to the Small-Cap Growth ETF (VBK) including international exposure as well.  Of course the FTSE China 25 Index Fund (FXI) is listed as well, but there is also bond and commodity exposure as well [see Firstrade's complete ETF lineup].

Due to its size, there are a lot of fund types that are not included in this portfolio, including municipal or government bond funds. The focus is on equities, so even though there is a fund for commodities, its the DB Commodity Index Tracking Fund (DBC) which doesn’t give anything but an overview of the market. Most of the funds listed only skim the surface of ETF potential, and while they might be good for first time investors, they are not nearly specialized enough for people looking for specific returns [see also ETFs That Should Be Commission Free But Aren't].

TD Ameritrade

5 Most Popular Commission Free ETFs
Ticker Name Avg. Volume (3 month) Assets ($M)
VWO MSCI Emerging Markets ETF 12,571,484 46,660.3
FXI FTSE China 25 Index Fund 17,532,520 4,777.8
EWZ MSCI Brazil Index Fund 16,182,323 4,718.0
EWJ MSCI Japan Index Fund 28,568,520 14,628.8
TLT Barclays 20 Year Treasury Bond 7,577,362 3,672.9

TD utilized Morningstar’s research team to select the ETFs included in the program, and as a result the scope of offerings is not restricted to a single ETF issuer and there are over 100 funds to pick from. Unlike the other commission-free programs, TD’s platform includes a host of products from a variety of issuers, including iShares, PowerShares, State Street, Vanguard, WisdomTree, iPath, and Van Eck, just to name a few. The company will offer the usual lineup of products targeting the main components of a portfolio including 30 bond funds and 31 domestic equity ETFs [see a complete list].

In another first, the company will offer free trading on commodity funds, including the popular PowerShares DB Commodity Index Tracking Fund (DBC), and it will be the only one to offer the service on a variety of iShares’ individual country ETFs, ranging from the MSCI Brazil Index Fund (EWZ) to the MSCI Canada Index Fund (EWC). TD’s plan is also the only to offer a commission-free junk bond ETF: State Street’s JNK. Other commission free products not available elsewhere include ETFs focusing on India (INP) and Russia (RSX), as well as a currency carry ETN (ICI) from iPath. It’s interesting to note that TD Ameritrade’s list includes Vanguard’s emerging markets ETF (VWO) but not the iShares product linked to the same underlying index.

TD’s ETF coverage isn’t without a few holes. Of the seven largest U.S.-listed ETFs by total assets, five of them–SPY, GLD, EEM, EFA, and QQQQ–aren’t on the list (those five funds account for about a quarter of all U.S. ETF assets). It should be noted, however, that TD does offer funds linked to the S&P 500 (IVV), MSCI Emerging Markets Index (VWO), and MSCI EAFE Index (VEA).

Scottrade/FocusShares

FocusShares made its return to the ETF industry in March 2011, not as a provider of specialized sector ETFs but as a unit of Scottrade. However, the return was short-lived; the company shuttered the entire lineup less than two years later after failing to generate assets. While they were around, all the FocusShares ETFs were available commission free in Scottrade accounts:

Name Ticker ER
Focus Morningstar US Market Index ETF FMU 0.05%
Focus Morningstar Large Cap Index ETF FLG 0.05%
Focus Morningstar Mid Cap Index ETF FMM 0.12%
Focus Morningstar Small Cap Index ETF FOS 0.12%
Focus Morningstar Basic Materials Index ETF FBM 0.19%
Focus Morningstar Communication Services Index ETF FCQ 0.19%
Focus Morningstar Consumer Cyclical Index ETF FCL 0.19%
Focus Morningstar Consumer Defensive Index ETF FCD 0.19%
Focus Morningstar Energy Index Index ETF FEG 0.19%
Focus Morningstar Financial Services Index ETF FFL 0.19%
Focus Morningstar Healthcare Index ETF FHC 0.19%
Focus Morningstar Industrials Index ETF FIL 0.19%
Focus Morningstar Real Estate Index ETF FRL 0.12%
Focus Morningstar Technology Index ETF FTQ 0.19%
Focus Morningstar Utilities Index ETF FUI 0.19%

Complete List

More than 200 ETFs are available commission free in one place or another, offering access to just about every asset class available:

Symbol Name ETFdb Category ER* Commission Free
VWO Emerging Markets ETF Emerging Markets Equities 0.20% 3 Platforms
EEM MSCI Emerging Markets Index Fund Emerging Markets Equities 0.67% Fidelity
EFA MSCI EAFE Index Fund Foreign Large Cap Equities 0.35% Fidelity
IVV Core S&P 500 ETF Large Cap Blend Equities 0.07% 3 Platforms
LQD iBoxx $ Investment Grade Corporate Bond Fund Corporate Bonds 0.15% 2 Platforms
VTI Total Stock Market ETF All Cap Equities 0.06% 2 Platforms
TIP Barclays TIPS Bond Fund Inflation-Protected Bonds 0.20% 2 Platforms
BND Total Bond Market ETF Total Bond Market 0.10% 2 Platforms
HYG iBoxx $ High Yield Corporate Bond Fund High Yield Bonds 0.50% Fidelity
IWM Russell 2000 Index Fund Small Cap Blend Equities 0.28% Fidelity
IWF Russell 1000 Growth Large Cap Growth Equities 0.20% 2 Platforms
AGG Core Total U.S. Bond Market ETF Total Bond Market 0.08% 2 Platforms
VNQ REIT ETF Real Estate 0.10% 2 Platforms
IWD Russell 1000 Value Large Cap Value Equities 0.22% 2 Platforms
JNK SPDR Barclays Capital High Yield Bond ETF High Yield Bonds 0.40% TD Ameritrade
VIG Dividend Appreciation ETF Large Cap Value Equities 0.13% 3 Platforms
IJH Core S&P Mid-Cap ETF Mid Cap Blend Equities 0.15% 3 Platforms
DVY Dow Jones Select Dividend Index Fund Large Cap Value Equities 0.40% Fidelity
CSJ Barclays 1-3 Year Credit Bond Fund Corporate Bonds 0.20% TD Ameritrade
VEA Europe Pacific Foreign Large Cap Equities 0.12% 2 Platforms
EWZ MSCI Brazil Index Fund Latin America Equities 0.59% TD Ameritrade
BSV Short-Term Bond ETF Total Bond Market 0.11% 3 Platforms
SHY Barclays 1-3 Year Treasury Bond Fund Government Bonds 0.15% TD Ameritrade
VUG Growth ETF Large Cap Growth Equities 0.10% 2 Platforms
IJR Core S&P Small-Cap ETF Small Cap Blend Equities 0.16% 2 Platforms
VEU FTSE All World Ex US ETF Global Equities 0.18% 2 Platforms
IVW S&P 500 Growth Index Fund Large Cap Growth Equities 0.18% Fidelity
VTV Value ETF Large Cap Value Equities 0.10% 2 Platforms
IWB Russell 1000 Index Fund Large Cap Blend Equities 0.15% 2 Platforms
MBB Barclays MBS Bond Fund Mortgage Backed Securities 0.31% TD Ameritrade
EMB JP Morgan Emerging Markets Bond Fund Emerging Markets Bonds 0.60% Fidelity
FXI FTSE China 25 Index Fund China Equities 0.72% 2 Platforms
DBC DB Commodity Index Tracking Fund Commodities 0.93% 2 Platforms
VOO S&P 500 ETF Large Cap Blend Equities 0.05% Vanguard
CIU Barclays Intermediate Credit Bond Fund Corporate Bonds 0.20% TD Ameritrade
IYR Dow Jones U.S. Real Estate Index Fund Real Estate 0.48% Fidelity
IVE S&P 500 Value Index Fund Large Cap Value Equities 0.19% 2 Platforms
DEM Emerging Markets Equity Income Fund Emerging Markets Equities 0.63% E*TRADE
VCSH Short-Term Corporate Bond Index Fund Corporate Bonds 0.14% 2 Platforms
VB Small-Cap ETF Small Cap Blend Equities 0.16% 2 Platforms
EWC MSCI Canada Index Fund Foreign Large Cap Equities 0.53% TD Ameritrade
BIV Intermediate-Term Bond ETF Total Bond Market 0.11% 3 Platforms
EWJ MSCI Japan Index Fund Japan Equities 0.54% TD Ameritrade
VYM High Dividend Yield ETF Large Cap Value Equities 0.13% 2 Platforms
IWN Russell 2000 Value Index Fund Small Cap Value Equities 0.33% 2 Platforms
VGK European ETF Europe Equities 0.14% 2 Platforms
IWO Russell 2000 Growth Small Cap Growth Equities 0.25% 2 Platforms
VO Mid-Cap ETF Mid Cap Blend Equities 0.10% 2 Platforms
IWV Russell 3000 All Cap Equities 0.21% 2 Platforms
EWG MSCI Germany Index Fund Europe Equities 0.53% TD Ameritrade
VV Large-Cap ETF Large Cap Blend Equities 0.10% Vanguard
IWS Russell Midcap Value Index Mid Cap Value Equities 0.31% TD Ameritrade
RWX SPDR DJ Wilshire Intl Real Estate Global Real Estate 0.59% TD Ameritrade
MUB S&P National Municipal Bond Fund National Munis 0.25% 2 Platforms
IWP Russell Midcap Growth Index Mid Cap Growth Equities 0.25% TD Ameritrade
VCIT Intermediate-Term Corporate Bond Index Fund Corporate Bonds 0.14% 2 Platforms
TLT Barclays 20 Year Treasury Bond Fund Government Bonds 0.15% TD Ameritrade
ACWI MSCI All Country World Index Fund Global Equities 0.35% 2 Platforms
IJK S&P MidCap 400 Growth Index Fund Mid Cap Growth Equities 0.25% Fidelity
PCY Emerging Markets Sovereign Debt Portfolio Emerging Markets Bonds 0.50% TD Ameritrade
VGT Information Tech ETF Technology Equities 0.19% Vanguard
EWA MSCI Australia Index Fund Asia Pacific Equities 0.53% TD Ameritrade
IJJ S&P MidCap 400 Value Index Fund Mid Cap Value Equities 0.25% Fidelity
IEI Barclays 3-7 Year Treasury Bond Fund Government Bonds 0.15% TD Ameritrade
VBR Small-Cap Value ETF Small Cap Value Equities 0.21% 2 Platforms
VBK Small-Cap Growth ETF Small Cap Growth Equities 0.10% 3 Platforms
DJP Dow Jones-UBS Commodity Index TR ETN Commodities 0.75% TD Ameritrade
BWX SPDR Barclays Intl Treasury Bond International Government Bonds 0.50% TD Ameritrade
VDE Energy ETF Energy Equities 0.19% Vanguard
AAXJ MSCI All Country Asia ex Japan Index Fund Asia Pacific Equities 0.67% TD Ameritrade
RWR SPDR DJ Wilshire REIT ETF Real Estate 0.25% TD Ameritrade
IJS S&P SmallCap 600 Value Index Fund Small Cap Value Equities 0.25% 2 Platforms
RSX Market Vectors Russia ETF Emerging Markets Equities 0.62% TD Ameritrade
ILF Latin America 40 Index Fund Latin America Equities 0.50% TD Ameritrade
SHM SPDR Barclays Short Term Municipal Bond ETF National Munis 0.20% TD Ameritrade
SCZ MSCI EAFE Small Cap Foreign Small & Mid Cap Equities 0.40% 2 Platforms
VPL Pacific ETF Asia Pacific Equities 0.14% Vanguard
IJT S&P SmallCap 600 Growth Index Fund Small Cap Growth Equities 0.25% Fidelity
EFV MSCI Value Index Fund Foreign Large Cap Equities 0.40% TD Ameritrade
VT Total World Stock Index ETF Global Equities 0.22% 2 Platforms
EWU MSCI United Kingdom Index Fund Europe Equities 0.53% TD Ameritrade
VXF Extended Market ETF Mid Cap Blend Equities 0.14% 2 Platforms
ELD Emerging Markets Local Debt Fund Emerging Markets Bonds 0.55% E*TRADE
WIP SPDR DB International Government Inflation-Protected Bond ETF Inflation-Protected Bonds 0.50% TD Ameritrade
EFG MSCI Growth Index Fund Foreign Large Cap Equities 0.40% TD Ameritrade
DLN LargeCap Dividend Fund Large Cap Value Equities 0.28% E*TRADE
IDV Dow Jones EPAC Select Dividend Foreign Large Cap Equities 0.50% Fidelity
TFI SPDR Barclays Municipal Bond National Munis 0.20% TD Ameritrade
DTN Dividend ex-Financials Fund Large Cap Value Equities 0.38% E*TRADE
VCLT Long-Term Corporate Bond Index Fund Corporate Bonds 0.14% 2 Platforms
SCHB U.S. Broad Market ETF All Cap Equities 0.04% Charles Schwab
VPU Utilities ETF Utilities Equities 0.19% Vanguard
VOT Mid-Cap Growth ETF Mid Cap Growth Equities 0.10% 2 Platforms
ACWX MSCI ACWI ex US Index Fund Global Equities 0.34% Fidelity
VDC Consumer Staples ETF Consumer Staples Equities 0.19% Vanguard
VOE Mid-Cap Value ETF Mid Cap Value Equities 0.10% 2 Platforms
DGS Emerging Market SmallCap Fund Emerging Markets Equities 0.63% E*TRADE
VSS FTSE All-World ex-US Small Cap Index ETF Global Equities 0.28% 2 Platforms
FEZ SPDR DJ Euro STOXX 50 ETF Europe Equities 0.29% TD Ameritrade
EPI India Earnings Fund Emerging Markets Equities 0.83% 2 Platforms
IOO S&P Global 100 Index Fund Global Equities 0.40% TD Ameritrade
VHT Health Care ETF Health & Biotech Equities 0.19% Vanguard
VXUS Total International Stock ETF Global Equities 0.18% Vanguard
SCHX U.S. Large-Cap ETF Large Cap Blend Equities 0.04% Charles Schwab
GVI Barclays Intermediate Government/Credit Bond Fund Total Bond Market 0.20% TD Ameritrade
MGK Mega Cap 300 Growth Large Cap Growth Equities 0.12% 2 Platforms
EWX SPDR S&P Emerging Markets Small Cap ETF Emerging Markets Equities 0.65% TD Ameritrade
SCHF International Equity ETF Foreign Large Cap Equities 0.09% Charles Schwab
VFH Financials ETF Financials Equities 0.23% Vanguard
GXC SPDR S&P China ETF China Equities 0.59% TD Ameritrade
BLV Long-Term Bond ETF Total Bond Market 0.11% 3 Platforms
BKF MSCI BRIC Index Fund Emerging Markets Equities 0.69% TD Ameritrade
DBO DB Oil Fund Oil & Gas 0.79% TD Ameritrade
SCHA U.S. Small-Cap ETF Small Cap Blend Equities 0.10% Charles Schwab
VAW Materials ETF Materials 0.19% Vanguard
ITM Market Vectors-Intermediate Municipal Index ETF National Munis 0.20% TD Ameritrade
SCHE Emerging Markets Equity ETF Emerging Markets Equities 0.15% Charles Schwab
RWO SPDR DJ Wilshire Global Real Estate ETF Global Real Estate 0.50% TD Ameritrade
DHS Equity Income Fund Large Cap Value Equities 0.38% E*TRADE
SCHP U.S. TIPS ETF Inflation-Protected Bonds 0.07% Charles Schwab
SCHD US Dividend Equity ETF All Cap Equities 0.07% Charles Schwab
VOX Telecom ETF Communications Equities 0.19% Vanguard
VCR Consumer Discretion ETF Consumer Discretionary Equities 0.19% Vanguard
DXJ Japan Hedged Equity Fund Japan Equities 0.48% E*TRADE
VIS Industrials ETF Industrials Equities 0.19% Vanguard
SCHG U.S. Large-Cap Growth ETF Large Cap Growth Equities 0.07% Charles Schwab
IWC Russell Microcap Index Fund Small Cap Blend Equities 0.71% TD Ameritrade
MGC Mega Cap 300 ETF Large Cap Blend Equities 0.12% Vanguard
ALD Asia Local Debt Fund Emerging Markets Bonds 0.55% E*TRADE
MGV Mega Cap 300 Value Large Cap Value Equities 0.12% Vanguard
SCHV U.S. Large-Cap Value ETF Large Cap Value Equities 0.07% Charles Schwab
DLS International SmallCap Fund Foreign Small & Mid Cap Equities 0.58% E*TRADE
EWQ MSCI France Index Fund Europe Equities 0.54% TD Ameritrade
DWM DEFA Fund Foreign Large Cap Equities 0.48% E*TRADE
DES SmallCap Dividend Fund Small Cap Value Equities 0.38% E*TRADE
DON MidCap Dividend Fund Mid Cap Value Equities 0.38% E*TRADE
VNQI Global ex-U.S. Real Estate Index Fund Global Real Estate 0.35% Vanguard
SIL Silver Miners ETF Commodity Producers Equities 0.65% 2 Platforms
SCHH U.S. REIT ETF Real Estate 0.07% Charles Schwab
SCHZ U.S. Aggregate Bond ETF Total Bond Market 0.05% Charles Schwab
DOO International Dividend ex-Financials Fund Foreign Large Cap Equities 0.58% E*TRADE
DTD Total Dividend Fund Large Cap Value Equities 0.28% E*TRADE
CEW Dreyfus Emerging Currency Fund Currency 0.55% E*TRADE
VMBS Mortgage-Backed Securities Index Fund Mortgage Backed Securities 0.15% 2 Platforms
CYB Dreyfus Chinese Yuan Fund Currency 0.45% E*TRADE
EWI MSCI Italy Index Fund Europe Equities 0.54% TD Ameritrade
SCHM U.S. Mid-Cap ETF Mid Cap Blend Equities 0.07% Charles Schwab
SCHO Short-Term U.S. Treasury ETF Government Bonds 0.08% Charles Schwab
SCHR Intermediate-Term U.S. Treasury ETF Government Bonds 0.10% Charles Schwab
VGSH Short-Term Government Bond Index Fund Government Bonds 0.14% 2 Platforms
EWP MSCI Spain Index Fund Europe Equities 0.54% TD Ameritrade
DOL International LargeCap Dividend Fund Foreign Large Cap Equities 0.48% E*TRADE
GXG InterBolsa FTSE Colombia 20 ETF Latin America Equities 0.78% 2 Platforms
SCHC International Small-Cap Equity ETF Foreign Small & Mid Cap Equities 0.20% Charles Schwab
DTH DEFA High-Yielding Equity Fund Foreign Large Cap Equities 0.58% E*TRADE
VONE Russell 1000 ETF Large Cap Blend Equities 0.12% Vanguard
EDV Extended Duration Treasury ETF Government Bonds 0.13% 2 Platforms
VTWO Russell 2000 ETF Small Cap Blend Equities 0.22% Vanguard
DFJ Japan SmallCap Fund Japan Equities 0.58% E*TRADE
SDIV SuperDividend ETF Global Equities 0.58% 2 Platforms
EZM MidCap Earnings Fund Mid Cap Value Equities 0.38% E*TRADE
EES SmallCap Earnings Fund Small Cap Value Equities 0.38% E*TRADE
AOM S&P Moderate Allocation Diversified Portfolio 0.32% TD Ameritrade
AOR S&P Growth Allocation Diversified Portfolio 0.31% TD Ameritrade
URA Uranium ETF Commodity Producers Equities 0.69% 2 Platforms
WDTI Managed Futures Strategy Fund Hedge Fund 0.95% E*TRADE
VGIT Intermediate-Term Government Bond Index Fund Government Bonds 0.14% 2 Platforms
CHIQ China Consumer ETF Consumer Discretionary Equities 0.65% 2 Platforms
AOK S&P Conservative Allocation Diversified Portfolio 0.30% TD Ameritrade
DRW Global ex-US Real Estate Fund Global Real Estate 0.58% E*TRADE
DIM International MidCap Dividend Fund Foreign Small & Mid Cap Equities 0.58% E*TRADE
AOA S&P Aggressive Allocation Diversified Portfolio 0.34% TD Ameritrade
VOOG S&P 500 Growth ETF Large Cap Growth Equities 0.15% Vanguard
IVOG S&P Mid-Cap 400 Growth ETF Mid Cap Growth Equities 0.20% Vanguard
DEW Global Equity Income Fund Global Equities 0.58% E*TRADE
AXJL Asia Pacific ex-Japan Fund Asia Pacific Equities 0.48% E*TRADE
EMCB Emerging Markets Corporate Bond Fund Emerging Markets Bonds 0.60% E*TRADE
GUR SPDR S&P Emerging Europe ETF Emerging Markets Equities 0.59% TD Ameritrade
IVOO S&P Mid-Cap 400 ETF Mid Cap Blend Equities 0.17% Vanguard
VONG Russell 1000 Growth ETF Large Cap Growth Equities 0.15% Vanguard
VGLT Long-Term Government Bond Index Fund Government Bonds 0.14% 2 Platforms
LIT Lithium ETF Commodity Producers Equities 0.75% 2 Platforms
AUSE Australia Dividend Fund Asia Pacific Equities 0.58% E*TRADE
DNL Global ex-U.S. Growth Fund Global Equities 0.58% E*TRADE
VOOV S&P 500 Value ETF Large Cap Value Equities 0.15% Vanguard
BZF Dreyfus Brazilian Real Fund Currency 0.45% E*TRADE
NORW FTSE Norway 30 ETF Europe Equities 0.50% 2 Platforms
EPS Earnings 500 Fund Large Cap Value Equities 0.28% E*TRADE
EXT Total Earnings Fund Large Cap Value Equities 0.28% E*TRADE
VONV Russell 1000 Value ETF Large Cap Value Equities 0.16% Vanguard
VTWG Russell 2000 Growth ETF Small Cap Growth Equities 0.20% Vanguard
AUNZ Australia & New Zealand Debt Fund International Government Bonds 0.45% E*TRADE
GLDX Gold Explorers ETF Commodity Producers Equities 0.65% 2 Platforms
VTHR Russell 3000 ETF All Cap Equities 0.16% Vanguard
VIOO S&P Small-Cap 600 ETF Small Cap Blend Equities 0.16% Vanguard
DBU Global ex-U.S. Utility Fund Utilities Equities 0.58% E*TRADE
ASEA FTSE ASEAN 40 ETF Emerging Markets Equities 0.65% 2 Platforms
TDN db-X 2030 Target Date Fund Target Retirement Date 0.65% E*TRADE
COPX Copper Miners ETF Commodity Producers Equities 0.65% 2 Platforms
TDV db-X 2040 Target Date Fund Target Retirement Date 0.65% E*TRADE
DFE Europe SmallCap Dividend Fund Europe Equities 0.58% E*TRADE
GREK FTSE Greece 20 ETF Europe Equities 0.69% 2 Platforms
EZY LargeCap Value Fund Large Cap Value Equities 0.38% E*TRADE
TDH db-X 2020 Target Date Fund Target Retirement Date 0.65% E*TRADE
SOIL Fertilizers/Potash ETF Commodity Producers Equities 0.69% 2 Platforms
GNAT Global Natural Resources Fund Commodity Producers Equities 0.58% E*TRADE
GXF FTSE Nordic 30 ETF Europe Equities 0.50% 2 Platforms
CCXE Commodity Country Equity Fund Global Equities 0.58% E*TRADE
CCX Dreyfus Commodity Currency Fund Currency 0.55% E*TRADE
BRAQ Brazil Consumer ETF Consumer Staples Equities 0.77% 2 Platforms
HEDJ International Hedged Equity Fund Foreign Large Cap Equities 0.58% E*TRADE
BRAZ Brazil Mid Cap ETF Latin America Equities 0.69% 2 Platforms
VTWV Russell 2000 Value ETF Small Cap Value Equities 0.33% Vanguard
CHXF China Dividend ex-Financials ETF China Equities 0.63% E*TRADE
ICI Optimized Currency Carry ETN Currency 0.65% TD Ameritrade
VIOV S&P Small-Cap 600 Value ETF Small Cap Value Equities 0.22% Vanguard
ICN Dreyfus Indian Rupee Fund Currency 0.45% E*TRADE
CNPF Canada Preferred ETF Preferred Stock/Convertible Bonds 0.58% 2 Platforms
DBEF MSCI EAFE Currency-Hedged Equity Fund Foreign Large Cap Equities 0.36% E*TRADE
VIOG S&P Small-Cap 600 Growth ETF Small Cap Growth Equities 0.20% Vanguard
ROI LargeCap Growth Fund Large Cap Growth Equities 0.38% E*TRADE
SOCL Social Media Index ETF Technology Equities 0.65% 2 Platforms
PERM Permanent ETF Diversified Portfolio 0.49% 2 Platforms
GULF Middle East Dividend ETF Emerging Markets Equities 0.88% E*TRADE
TDX db-X In-Target Date Fund Target Retirement Date 0.65% E*TRADE
TDD db-X 2010 Target Date Fund Target Retirement Date 0.65% E*TRADE
IVOV S&P Mid-Cap 400 Value ETF Mid Cap Value Equities 0.24% Vanguard
FSG 2x Gold Bull/S&P 500 Bear Leveraged Commodities 0.75% Interactive Brokers
AND FTSE Andean 40 ETF Latin America Equities 0.72% 2 Platforms
JYF Dreyfus Japanese Yen Fund Currency 0.35% E*TRADE
CHIX China Financials ETF Financials Equities 0.65% 2 Platforms
DPU DB Commodity Long ETN Commodities 0.75% TD Ameritrade
CHIE China Energy ETF Energy Equities 0.65% 2 Platforms
RRF Global Real Return Fund Hedge Fund 0.60% E*TRADE
GGGG Pure Gold Miners ETF Commodity Producers Equities 0.59% 2 Platforms
DBCN MSCI Canada Currency-Hedged Equity Fund Foreign Large Cap Equities 0.51% E*TRADE
DBJP MSCI Japan Currency-Hedged Equity Fund Japan Equities 0.51% E*TRADE
SZR Dreyfus South African Rand Fund Currency 0.45% E*TRADE
CHII China Industrials ETF Industrials Equities 0.65% 2 Platforms
DBEM MSCI Emerging Markets Currency-Hedged Equity Fund Emerging Markets Equities 0.69% E*TRADE
EU Euro Debt Fund International Government Bonds 0.35% E*TRADE
DBBR MSCI Brazil Currency-Hedged Equity Fund Latin America Equities 1.13% E*TRADE
BRAF Brazil Financials ETF Financials Equities 0.77% 2 Platforms
ARGT FTSE Argentina 20 ETF Latin America Equities 0.75% 2 Platforms
QQQC NASDAQ China Technology ETF Technology Equities 0.65% 2 Platforms
CHIM China Materials ETF Materials 0.65% 2 Platforms
FSU 2x S&P 500 Bull/USD Bear Leveraged Equities 0.75% Interactive Brokers
FSA 2x T-Bond Bull/S&P 500 Bear Leveraged Equities 0.75% Interactive Brokers
GURU Top Guru Holdings Index ETF Global Equities 0.75% 2 Platforms

*Expense Ratios as of October 2010

One other note: investors still don’t have a way to trade precious metals ETFs commission-free–perhaps an opportunity for other firms looking to follow in the footsteps of those highlighted above.

See complete lists of commission-free ETFs available from:

[For more ETF news make sure to sign up for our free ETF newsletter or try a free seven day trial to ETFdb Pro.]

Disclosure: Eric is long EWZ, IWM, and VWO.