If you want to buy a Schwab mutual fund, you may be able to purchase it through several brokerage firms outside of Schwab. Schwab allows this, and any loads that apply stay the same. Transaction-fee status, however, can differ by broker and sometimes by fund.
Fidelity
We logged into our Fidelity account to review its lineup of Schwab mutual funds. What we found
is that it doesn’t offer any Schwab funds that are free to trade. Fidelity’s published online fee for
transaction-fee funds is
$49.95 or $100 per purchase. The transaction fee at Fidelity is only applied on the buy side, though.
All Charles Schwab ETFs, including index funds, can be bought at Fidelity. Fidelity charges
$0 commission for online U.S. ETF trades, although a limited number of ETFs are subject to a
$100 transaction-based service fee.
One of the Schwab funds we found at Fidelity is the Schwab Small Cap Index Fund, ticker symbol SWSSX. This one has a much lower expense ratio than the Dividend Equity Fund. SWSSX charges just
4 basis points per year. Morningstar also likes the Small Cap Fund much better, giving it 4 stars out of 5. Unfortunately, Fidelity’s published online fee for transaction-fee funds is
$49.95 or $100 to buy a fund like this.
Free Charles Schwab Account
Satisfaction guarantee, ACAT reimbursement, and $0-fee trades at Charles Schwab.
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E*TRADE
Finally, we come to E*TRADE. With its mutual fund screener, we found Schwab products in the lineup. E*TRADE now advertises
$0 commission pricing for all mutual funds, so the old split between fee-based and no-fee Schwab funds no longer applies.
All Charles Schwab exchange traded funds (ETFs) are available at E*TRADE. There is
$0 commission to
trade these funds online.
One Schwab fund we found at E*TRADE is
SWLRX, Schwab Monthly Income Fund - Income Payout. This security seeks to provide monthly income through a diversified portfolio that is currently built with mostly fixed-income holdings plus some equity exposure. Schwab’s current payout guidance is
0% to 3% in a low-rate environment,
3% to 5% in a normal-rate environment, and
5%+ in a high-rate environment.
SWLRX is a fund of funds, meaning that it invests in other funds. There are currently
12 holdings in the portfolio, and they are not all Schwab funds. The lineup includes Schwab funds along with outside holdings such as Cohen & Steers and T. Rowe Price.
One really nice feature we found at E*TRADE is report cards in pdf format. These cover mutual funds and provide information in an easy-to-read format. According to Schwab’s current fund profile for SWLRX, the fund requires
no minimum investment to start an investment.
Charles Schwab Review and Rating
Updated on 4/15/2026.
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