Schwab YieldPlus Goes From Hero to Zero
Schwab also cuts fund fees; two prominent managers get set to launch a fund.
YieldPlus, once the largest fund in the ultrashort-bond category, will liquidate before the end of August. In mid-2007, the fund had more than $12 billion in assets and had been a top performer for several consecutive years. At the time, Schwab touted the fund as a higher-yielding alternative to cash.
Ryan Leggio does not own shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.