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Institutional No Transaction Fee Funds

Institutional No Transaction Fee (INTF) funds can help you manage portfolios for your clients to meet their ever-evolving needs.

Schwab's platform offers:

Funds from more than 20 asset managers,1 many with Morningstar Ratings™ of 4 or 5, so you can build more diverse portfolios that consider your clients' time horizon, risk tolerance, and more

Funds with lower expenses, enabling you to potentially lower costs and put more of your clients' money to work

SPONSORED

T. Rowe Price institutional share class funds

We work with T. Rowe Price to give you the ability to purchase its actively managed institutional share class funds on Schwab Advisor Center® without transaction fees. 

T. Rowe Price's strengths include these industry-leading differentiators:

  • Experienced portfolio managers averaging 23 years in the industry.2
  • 45% of T. Rowe Price's institutional share classes have 4- or 5-star Morningstar Overall Ratings.3
  • Over 85% of TRP's institutional share classes available without transaction fees at Schwab have expense ratios at or below the average Morningstar Category expense ratio for institutional share classes.4

Learn more about T. Rowe Price's investment solutions and insights.

Schwab receives compensation from T. Rowe Price for our promotion of their actively managed mutual funds to clients of registered investment advisors that custody assets at Schwab, and for providing additional mutual fund marketing support to T. Rowe Price. Schwab also receives various fees for the recordkeeping, shareholder services and other administrative services that Schwab provides to other no transaction fee funds, including certain institutional share classes that are available with no transaction fee to investors at Schwab. Fees are discussed more fully here.

Institutional No Transaction Fee fund providers

Below is the current list of fund providers. To see all available funds, go to the Quick Screens section of the Research tab on Schwab Advisor Center and select Institutional No Transaction Fee funds.

  • Allspring
  • American Funds
  • BlackRock
  • BNY Mellon Funds
  • Calamos
  • Cohen & Steers
  • Columbia
  • Delaware Funds
  • Diamond Hill
  • DWS
  • First Eagle
  • Franklin Templeton
  • Glenmede
  • Goldman Sachs
  • Guggenheim
  • Invesco
  • Janus
  • Lord Abbett
  • MFS
  • Neuberger Berman
  • Nuveen
  • PIMCO
  • Principal
  • Putnam
  • T. Rowe Price

Explore more of Schwab's capabilities

  • Market and investment insights

    Stay ahead of the curve with unique perspectives on market and investing trends.

  • Specialized services

    See how we put our scale as an industry leader to work for firms of all sizes.

  • Access the support you need

    Your Service and Sales teams are ready to help. Just log in with your Schwab Advisor Center credentials to find your team.

  • Explore more ways we can help you put your clients first

    Institutional No Transaction Fee funds are just one reason Schwab is a custodian of choice for so many Registered Investment Advisors. Get in touch today to see how we can help you.

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Investors should consider carefully information contained in the prospectus, or if available, the summary prospectus, including investment objectives, risks, charges and expenses. You can obtain a prospectus, or if available, a summary prospectus by visiting schwabassetmanagement.com. Please read it carefully before investing.

Investment returns will fluctuate and are subject to market volatility, so that an investor's shares, when redeemed or sold, may be worth more or less than their original cost.

Investment value will fluctuate, and shares, when redeemed, may be worth more or less than their original cost.

1. Not all mutual funds from an asset manager may be available as INTF funds. The full list of available INTF funds can be found here.
2. T. Rowe Price, December 31, 2023.
3. Morningstar Rating methodology document, January 31, 2024.
4. Morningstar Direct, January 31, 2024.

Charles Schwab & Co., Inc. (member SIPC) receives remuneration from fund companies participating in the institutional no transaction fee (INTF) platform for recordkeeping and shareholder services, and other administrative services. Schwab receives greater remuneration on institutional share classes that participate in INTF than it would if the share class were made available with a transaction fee.

The Morningstar Rating™ for funds, or "star rating," is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars and the next 22.5% receive 4 stars. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three-year rating for 36-59 months of total return, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total return. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods. Ratings do not take into account the effects of sales charges and loads.

Schwab Advisor Services™ serves independent investment advisors and includes the custody, trading, and support services of Charles Schwab & Co., Inc. Independent investment advisors are not owned by, affiliated with or supervised by Schwab.

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