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Wasmer Schroeder™ Strategies

With Wasmer Schroeder Strategies, you don’t have to build your clients’ fixed income portfolio on your own. We work with you to match our professionally managed solutions to their portfolio objectives, so you can stay focused on the big picture.

Dedicated service

Our commitment to providing fixed income solutions for your clients includes assistance with asset transitions, prompt and reliable communication, in-depth market analysis, and more.

Fixed income expertise

We harness decades of expertise to build fixed income strategies that aim to balance risks and returns to help your clients meet their portfolio objectives.

Managed by Schwab Asset Management®

At Schwab Asset Management, we seek to leverage our experience, data, and insights to help provide value to investors and the advisors who serve them.

What we offer

We provide a broad host of portfolio strategies across the duration, credit, and tax-efficiency spectrum.

  • Creating specific liquidity, credit quality and maturity mandates can provide clients with portfolios designed for their needs
  • Wide range of portfolio strategies to meet specific client objectives
  • Specific investment policy statements
  • Various strategy options can utilize credit opportunities

Tax exempt strategies overview

Tax Exempt Strategies Overview

Column headers with buttons are sortable.

Credit Quality

Short Duration
(<3 years)

Intermediate Duration
(3-6 years)

Long Duration
(>6 years)

High Quality
Majority of holdings typically rated ‘AA’ or higher

Short Tax Exempt
Short duration, high credit quality strategy that seeks to generate tax-exempt income with a focus on capital preservation and liquidity.

Intermediate Tax Exempt
Intermediate duration strategy that seeks to generate tax-exempt income with a focus on high credit quality.

Positive Impact Tax Exempt
Intermediate duration strategy that seeks to generate tax-exempt income with a focus on identifying issues with proceeds that exhibit a positive impact on society and the environment.

Long Tax Exempt
Long duration strategy that seeks to generate tax-exempt income with a focus on higher credit quality. Call protection is significant as this strategy focuses on locking in long-term tax-exempt yields.

Investment Grade
Full utilization of the investment grade credit curve from ‘AAA’ to ‘BBB’ bonds

Intermediate Strategic Tax Exempt
Intermediate duration strategy that seeks to generate tax-exempt income from opportunistic, investment grade credit selection.

Strategic Tax Exempt
Long duration strategy that seeks to generate tax-exempt income from opportunistic, investment grade credit selection using the full spectrum of the municipal yield curve.

Credit
May hold below investment grade bonds depending on relative value

Short Tax Exempt Credit
Short duration strategy that seeks to generate tax-exempt income through opportunistic credit selection. Maintains significant exposure to investment grade issuers, but has the ability to maintain exposure to the entire credit spectrum, including below investment grade and non-rated issuers.

Intermediate Tax Exempt Credit
Intermediate duration strategy that seeks to generate tax-exempt income through opportunistic credit selection. Maintains significant exposure to investment grade issuers, but has the ability to maintain exposure to the entire credit spectrum, including below investment grade and non-rated issuers.

Long Tax Exempt Credit
Long duration strategy that seeks to generate tax-exempt income through opportunistic credit selection. Maintains significant exposure to investment grade issuers, but has the ability to maintain exposure to the entire credit spectrum, including below investment grade and non-rated issuers.

Taxable strategies overview

Taxable Strategies Overview

Column headers with buttons are sortable.

Credit Quality

Short Duration
(<3 years)

Intermediate Duration
(3-5 years)

Longer Duration
(>5 years)

High Quality
‘BBB’ exposure limited to 10%

Short Duration Bond
Short duration strategy that seeks to generate income with a focus on capital preservation and liquidity.

Intermediate Taxable
Intermediate duration strategy that seeks to generate income with a focus on higher credit quality.

Positive Impact Bond
Intermediate duration strategy that seeks to generate income with a focus on identifying issues with proceeds that exhibit a positive impact on society and the environment.

Core Bond
Intermediate duration strategy that seeks to generate income through a well diversified, investment grade portfolio.

Investment Grade
Focus on higher yielding sectors; ‘BBB’ exposure limited to 30%

Intermediate IG Credit
Intermediate duration strategy, containing predominantly investment grade corporate bonds and taxable municipal bonds, that seeks to generate income with a focus on higher yielding sectors and securities.

Core IG Credit
Intermediate duration strategy that seeks to generate income through a well diversified, investment grade portfolio, with a focus on higher yielding sectors and securities.

Limited Below Investment Grade/Multi-asset
Blend of investment and below investment grade securities with a minimum rating of ‘BB’

Core Plus Bond
Intermediate duration strategy that seeks to generate high current income. Can hold securities across multiple asset classes including, but not limited to, corporate bonds, taxable municipal bonds, and preferred securities. Below investment grade securities can be held.

Multi-Sector Income
Seeks to generate current income through the use of multiple asset classes, including, but not limited to, corporate and taxable municipal bonds as well as common and preferred securities. Below investment grade securities can be held.

Strategies comparison

Chart comparing strategies by credit risk and duration

Bond ladder strategies

Tax-exempt

  • 1-5 Yr Municipal Bond Ladder
  • 1-12 Yr Municipal Bond Ladder
  • 3-12 Yr Municipal Bond Ladder
  • 5-15 Yr Municipal Bond Ladder

Credit Quality: High quality bonds with a majority of holdings typically rated ‘AA’ or higher

Sector Allocation: Diversified mix of essential service revenue bonds and state & local general obligation debt

Taxable

  • 1-5 Yr Taxable Bond Ladder
  • 1-10 Yr Taxable Bond Ladder
  • 3-7 Yr Taxable Bond Ladder
  • 5-10 Yr Taxable Bond Ladder

Credit Quality: Investment grade portfolio with ‘BBB’ exposure limited to 60%

Sector Allocation: Primarily corporate bonds and taxable municipal bonds

Wasmer Schroeder Strategies insights

Bond Market Update

Questions?

Find your regional representative who can help get you answers.

Contact us

Portfolio Management for Wasmer Schroder Strategies is provided by Charles Schwab Investment Management, Inc., dba Schwab Asset Management®, a registered investment adviser and an affiliate of Charles Schwab & Co, Inc. ("Schwab"). Both Schwab Asset Management and Schwab are separate entities and subsidiaries of The Charles Schwab Corporation.

Please refer to the Charles Schwab Investment Management, Inc. Disclosure Brochure for additional information.

Diversification strategies do not ensure a profit and do not protect against losses in declining markets.

Investments in managed accounts should be considered in view of a larger, more diversified investment portfolio.

There are risks associated with any investment approach, the Wasmer Schroeder Strategies have their own set of risks. The Wasmer Schroeder Strategies invests primarily in fixed income instruments and as such the strategies are subject to various risks including but not limited to interest rate risk, reinvestment risk, credit risk, default risk and event risk. Fixed income securities are subject to increased loss of principal during periods of rising interest rates. Fixed income investments are subject to various other risks including changes in credit quality, market valuations, liquidity, prepayments, early redemption, corporate events, tax ramifications and other factors.

Tax-exempt bonds are not necessarily a suitable investment for all persons. Information related to a security's tax-exempt status (federal and in-state) is obtained from third parties, and Charles Schwab Investment Management, Inc., dba Schwab Asset Management, does not guarantee its accuracy. Tax-exempt income may be subject to the Alternative Minimum Tax (AMT). Capital appreciation from bond funds and discounted bonds may be subject to state or local taxes. Capital gains are not exempt from federal income tax.

Wasmer Schroeder Strategies are available through Schwab's Managed Account Connection® ("Connection") program. Please read Schwab's disclosure brochure for important information and disclosures relating to Connection, and Schwab Managed Account Services®.

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Investment and Insurance Products Are: Not FDIC Insured • Not Insured by Any Federal Government Agency • Not a Deposit or Other Obligation of, or Guaranteed by, the Bank or Any of Its Affiliates • Subject to Investment Risks, Including Possible Loss of Principal Amount Invested

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