Merrill Edge charges $0 commission on all online ETF trades and backs its ETF platform with BofA Global Research — one of Wall Street’s most respected institutional research teams. For Bank of America customers who have qualified for Preferred Rewards, Merrill Edge is a natural home for ETF investing that also earns banking rewards. Here is how to invest in ETFs at Merrill Edge in 2026.
ETF Costs at Merrill Edge
| Cost | Amount |
|---|---|
| Online ETF commission | $0 |
| Third-party ETF expense ratios | Varies (fund cost only) |
| Account maintenance fee | $0 |
| Account minimum | $0 |
| Broker-assisted ETF trade | $29.95 surcharge |
Merrill Edge’s $0 commission applies to all exchange-traded funds placed online or via the mobile app. The broker-assisted fee applies only to trades placed by calling a Merrill Edge advisor — ETF investors who trade online pay $0.
ETF Selection at Merrill Edge
Merrill Edge provides access to the full US-listed ETF universe. Given Bank of America’s institutional relationship with BlackRock, iShares ETFs are particularly well-integrated into the research platform. Popular ETFs available at $0 commission:
| ETF | Category | Expense Ratio |
|---|---|---|
| VOO | S&P 500 (Vanguard) | 0.03% |
| VTI | Total US Market (Vanguard) | 0.03% |
| IVV | S&P 500 (iShares) | 0.03% |
| ITOT | Total US Market (iShares) | 0.03% |
| QQQ | Nasdaq-100 (Invesco) | 0.20% |
| SPY | S&P 500 (SPDR) | 0.0945% |
| AGG | US Aggregate Bond (iShares) | 0.03% |
| ACWI | All Country World (iShares) | 0.33% |
| SCHD | US Dividend Equity (Schwab) | 0.06% |
| VYM | High Dividend Yield (Vanguard) | 0.06% |
| GLD | Gold (SPDR) | 0.40% |
| BND | Total Bond Market (Vanguard) | 0.03% |
iShares ETFs — BofA’s BlackRock-affiliated partner — include some of the most liquid and widely held ETFs in the world. IVV, AGG, and ITOT are directly comparable (often identical) to Vanguard’s VOO, BND, and VTI at the same 0.03% expense ratio.
How to Buy an ETF at Merrill Edge — Step by Step
- Log in to Merrill Edge at merrilledge.com or via the mobile app
- Click “Trade” in the top navigation
- Enter the ticker symbol (e.g., IVV, AGG, QQQ)
- Review the ETF quote page — includes Morningstar rating, expense ratio, 52-week range, and BofA research where available
- Select “Buy”
- Choose order type — Market or Limit (Limit recommended to control execution price)
- Enter quantity in whole shares — fractional ETF shares are not available at Merrill Edge
- Select account — individual brokerage, Roth IRA, Traditional IRA, etc.
- Review and place order
Merrill Edge also offers MarketPro — a professional-grade platform with streaming quotes, advanced charting, and sector heat maps. MarketPro is available free to all clients.
ETF Research at Merrill Edge
Merrill Edge’s research depth is a genuine competitive advantage for ETF investors:
BofA Global Research
Bank of America’s institutional research desk provides equity analysis, sector outlooks, and market commentary. While BofA’s primary research focuses on individual stocks, the thematic and sector outlooks are highly relevant for sector ETF selection (e.g., technology, healthcare, financials).
Morningstar Integration
Every ETF detail page at Merrill Edge includes:
- Morningstar star rating (1–5)
- Morningstar category and style box (large blend, small value, etc.)
- Analyst narrative reports for major ETFs
- Historical performance vs. category peers
- Expense ratio comparison vs. category average
CFRA Research
CFRA’s ETF and fund reports provide additional quantitative analysis, particularly for multi-asset and income-focused ETFs.
Building an ETF Portfolio at Merrill Edge
Three-fund portfolio (iShares focus for Merrill Edge’s research advantage):
- 60% ITOT (iShares Total US Market, 0.03%)
- 30% IXUS or VXUS (International, 0.09% or 0.07%)
- 10% AGG (US Aggregate Bond, 0.03%)
Income-focused portfolio:
- 35% VYM (High Dividend Yield, 0.06%)
- 25% SCHD (Dividend Equity, 0.06%)
- 25% AGG (Bonds, 0.03%)
- 15% VXUS (International, 0.07%)
Aggressive growth portfolio:
- 50% QQQ (Nasdaq-100, 0.20%)
- 30% IVV (S&P 500, 0.03%)
- 20% ACWI (Global, 0.33%)
For automated ETF investing, Merrill Guided Investing manages a portfolio for 0.45%/year ($1,000 minimum) or 0.85%/year with an advisor ($20,000 minimum). Both programmes use ETFs.
Preferred Rewards and ETF Investing
Merrill Edge’s Preferred Rewards programme rewards Bank of America customers who hold combined assets across BofA checking, savings, and Merrill Edge investment accounts:
| Tier | Combined BofA + Merrill Assets | Free Trades/Month |
|---|---|---|
| Gold | $20,000–$49,999 | 0 free trades |
| Platinum | $50,000–$99,999 | 15 free trades |
| Platinum Honors | $100,000+ | 30 free trades |
| Diamond | $1,000,000+ | Unlimited |
Important: Since online ETF trades are already $0, the free trades benefit primarily helps options traders and users who make broker-assisted trades. For pure ETF investors, the most valuable Preferred Rewards benefit is the 5.4%–7.5% cash rewards bonus on Bank of America credit cards and priority customer service access.
ETFs in Merrill Edge IRAs
| IRA Type | ETF Commission | Notes |
|---|---|---|
| Roth IRA | $0 | Tax-free qualified distributions |
| Traditional IRA | $0 | Tax-deferred; required minimum distributions at 73 |
| Rollover IRA | $0 | Roll 401(k) assets to Merrill Edge |
| SEP IRA | $0 | For self-employed and small business owners |
| SIMPLE IRA | $0 | Employer-matched plan |
DRIP is available for eligible ETFs in Merrill Edge IRAs. Dividends reinvest in whole shares with cash remainders going to your money market sweep account.
Merrill Edge vs. Competitors for ETF Investing
| Feature | Merrill Edge | Fidelity | Schwab |
|---|---|---|---|
| ETF commission | $0 | $0 | $0 |
| Proprietary ETF family | No | Yes (FZROX…) | Yes (SCHD, SCHB…) |
| Research quality | BofA + Morningstar + CFRA | Morningstar + CFRA + Argus | Schwab Equity Ratings |
| ETF screener | MarketPro (competent) | Fidelity.com (good) | thinkorswim (best) |
| Banking integration | Full BofA integration | No banking | Schwab Bank integration |
| Preferred Rewards | Yes (30 free trades, banking bonuses) | No | No |
Merrill Edge’s primary differentiator for ETF investors is BofA Global Research quality and the banking ecosystem integration. Investors who are already BofA customers and have $20,000+ across accounts should strongly consider Merrill Edge for the Preferred Rewards ecosystem.
Key Takeaways
- Merrill Edge charges $0 commission on all online ETF trades with no account minimums
- No proprietary ETF family — access to all major ETF providers including iShares, Vanguard, and SPDR
- BofA Global Research and Morningstar provide among the strongest ETF research of any retail broker
- Preferred Rewards benefits are most valuable for BofA banking customers — less impactful for pure ETF cost savings
- All ETFs available commission-free in Merrill Edge IRAs with DRIP support
For a platform overview, see our Merrill Edge review. For how Preferred Rewards works, see our Merrill Edge Preferred Rewards guide.
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