02:43 PM EDT, 07/30/2024 (MT Newswires) -- Charles Schwab's ( SCHW ) Schwab Asset Management said Tuesday that it launched the first actively managed fixed income exchange-traded fund Schwab Ultra-Short Income ETF.

The ETF will begin trading on or about Aug. 13, according to Schwab Asset Management.

Schwab Ultra-Short Income ETF has an expense ratio of 0.14% and will provide access to US dollar-denominated, investment grade, short-term bond market, Schwab Asset Management added.

The ETF will maintain a portfolio duration of one year or less.

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