Schwab Asset Management announced forward share splits for 20 of its Exchange-Traded Funds (ETFs) on September 25, 2024. These splits are designed to increase the number of shares outstanding and decrease the Net Asset Value (NAV) per share.
The company stated that these share splits will not change the total value of a shareholder's investment. Furthermore, the splits are not considered a taxable event for shareholders, providing a straightforward adjustment to holdings.
This move aims to enhance the accessibility of Schwab's ETF offerings, potentially making them more attractive to a wider range of investors by lowering the per-share price.
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