Not too long ago, there was an obvious way to construct a broad, low-cost ETF portfolio for clients: Turn to Vanguard. Then Schwab and iShares entered the fray -- possibly because Vanguard was collecting 32.4% of all new investor money into ETFs. One of the two giants lowered expense ratios; the other launched new ETFs to compete with Vanguard. Although the fee war has been great for clients, selecting the right ETFs isn’t just about expense ratios. Here’s what you need to know.

Schwab’s Gambit

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