[Correction: An earlier version of this article said Vanguard offered a 0.07% expense ratio on its Vanguard Total Stock Market ETF (NYSEArca: VTI), lower than Schwab's proposed 0.08% expense ratio on the Schwab U.S. Broad Market ETF (NYSEArca: SCHB). In fact, Vanguard has increased fees on a number of its ETFs, including pushing VTI's fee to 0.09%. SCHB and its partner fund the Schwab U.S. Large Cap ETF (NYSEArca: SCHX) will be, when they launch, the lowest-cost ETFs on the market. A corrected story follows below.]

Charles Schwab unveiled a new ultra-low pricing structure for its forthcoming exchange-traded funds in a filing that hit the Securities and Exchange Commission on Tuesday.

The financial services giant, best known for its brokerage and advisory segments, is expected to launch its first ETFs before the end of the year. The firm has filed for a total of eight ETFs so far, although more are expected.

Many have wondered how Schwab would compete in the crowded ETF market. For now, the playbook seems remarkably simple: Deliver broad-based index funds at ultra-low costs and rely on the Schwab brand and distribution to drive returns.

Schwab will offer its U.S. Broad Market (NYSEArca: SCHB) and U.S. Large Cap (NYSEArca: SCHX) ETFs for an expense ratio of just 0.08 percent each, making them the lowest cost ETFs available on the market. That fee rises to 0.15 percent for the U.S. large-cap growth, U.S. large-cap value, U.S. small-cap and developed international ETFs. The company will charge 0.35 percent for its international small-cap and emerging markets funds.

In each case, the funds will either be the lowest cost ETFs on the market or close-to-it. If Schwab can ensure that the new funds trade at tight spreads---a big if for any new fund---it should be able to attract assets with this strategy.

There is no official word on when Schwab’s ETFs will actually hit the market. Some say it could be as early as next week.