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1E*TRADE from Morgan Stanley charges $0 commission for online US-listed stock, ETF, mutual fund, and options trades. Exclusions may apply and E*TRADE from Morgan Stanley reserves the right to charge variable commission rates. The standard options contract fee is $0.65 per contract (or $0.50 per contract for clients who execute at least 30 stock, ETF, and options trades per quarter). The retail online $0 commission does not apply to Over-the-Counter (OTC) securities transactions, foreign stock transactions, large block transactions requiring special handling, futures, or fixed income investments. Service charges apply for trades placed through a broker ($25). Stock plan account transactions are subject to a separate commission schedule. All fees and expenses as described in a fund's prospectus still apply. Additional regulatory and exchange fees may apply. For more information about pricing, visit etrade.com/pricing.
The Annual Advisory Fee is 0.30%, or as low as $1.50 for $500 in assets, and is the direct fee charged to any client in the advisory program. The advisory fee does not cover underlying management fees and expenses of any mutual fund or ETF investment held in the portfolio.
An investment in an exchange-traded fund involves risks similar to those of investing in a broadly based portfolio of equity securities traded on exchange in the relevant securities market, such as market fluctuations caused by such factors as economic and political developments, changes in interest rates and perceived trends in stock prices. The investment return and principal value of ETF investments will fluctuate so that an investor’s ETF shares, if or when sold, may be worth more or less than the original cost.
Alternative investments often are speculative and include a high degree of risk. Investors could lose all or a substantial amount of their investment. Alternative investments are appropriate only for eligible, long-term investors who are willing to forgo liquidity and put capital at risk for an indefinite period of time. They may be highly illiquid and can engage in leverage and other speculative practices that may increase the volatility and risk of loss. Alternative Investments typically have higher fees than traditional investments. Investors should carefully review and consider potential risks before investing.
Investors should carefully consider the investment objectives, risks, charges and expenses of a mutual fund and exchange-traded fund (ETF) before investing. The prospectus contains this and other information about the mutual fund and ETF. To obtain a prospectus, contact your Financial Advisor or visit the mutual fund and ETF company’s website. Please read the prospectus carefully before investing.
Portfolios using Environmental, Social and Governance (“ESG”) criteria, also known as sustainable or impact investing, may perform differently than those without such considerations. ESG focused investments may face market limitations, and there is no guarantee they will achieve better financial or sustainability outcomes.
Morgan Stanley Smith Barney LLC is a registered broker-dealer, member SIPC, and not a bank. Where appropriate, Morgan Stanley Smith Barney LLC has entered into arrangements with banks and other third parties to assist in offering certain banking-related products and services.
Securities products and services offered by E*TRADE Securities LLC, Member SIPC. Investment advisory services offered by E*TRADE Capital Management, LLC, a Registered Investment Adviser. E*TRADE Securities LLC and E*TRADE Capital Management, LLC, are separate but affiliated subsidiaries of Morgan Stanley.
Investment, insurance and annuity products offered through Morgan Stanley Smith Barney LLC are: NOT FDIC INSURED | MAY LOSE VALUE | NOT BANK GUARANTEED | NOT A BANK DEPOSIT | NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY
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CRC#40098692 (04/2025)
