Schwab Intelligent Portfolios

Schwab Intelligent Portfolios stands out with a zero advisory fee, offering diversified portfolios from Schwab and third-party ETFs with no management charge. However, critics note that a required 6% to 30% cash allocation acts as a hidden drag, potentially reducing net returns by 0.5% annually compared to the lower cash levels at Vanguard Digital Advisor. For investors comfortable monitoring cash positions, this remains the cheapest option in dollar terms.