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Since I want to add $100/month of exposure to the S&P 500 each month, SPY doesn't make sense--trading costs, even at $9/trade, will eat that up and more than make up for the difference in expense ratio between SPy and the Vanguard 500 index fund.

However, I saw that the Schwab U.S. Large-Cap ETF, which is Schwab's version of the SPY, has zero trading fees from a Schwab brokerage account. It's expense ratio is much lower than the Vanguard index fund, at 0.04%.

Is there some sort of catch with the Schwab ETF? If it does as good a job at tracking the market as the SPY or Vanguard, it seems like the perfect solution.
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