Why can’t I just invest in the same ETFs myself to avoid Save's management fee?

It depends on your personal return goals and your risk tolerance; with the Save Market Savings program, your deposit is FDIC-insured,³ and Save utilizes sophisticated investment approaches in order to provide potential for strong returns – making the most of the portfolio construction and financial product development experience across the Save team. These are the same academic approaches utilized by sophisticated institutional investors, pension funds, and insurance companies – delivered by the Market Savings program without intermediaries, and with a reasonable fee that is only charged if the investment portfolios perform.

A direct investment in ETFs could provide greater or smaller returns, with the risk that you could lose some of your original investment.  Your principal invested in ETFs is not FDIC insured.³ Additionally, your Market Savings deposit is not encumbered, collateralized, or put at risk. Save does not utilize your deposit for anything else aside from placing it with Webster Bank, N.A., Member FDIC,³ to ensure capital protection.