Fidelity Investments has launched the cheapest lineup of single-industry ETFs in an effort to rival a market dominated by Vanguard Group and BlackRock. The 10 newly released funds, managed by BlackRock, have an annual expense ratio of 0.12%, 2 BPs cheaper than Vanguard’s similar line of ETFs.
Fidelity has been surpassed in assets by Vanguard and BlackRock in the past five years, in part because of the growth of index-based offerings such as ETFs. Fidelity, which offers only one ETF, has seen assets in its mainstay stock mutual funds decline 16% over the past five years, while management and advisory fees dropped an estimated 13%.
For more information about Fidelity’s advisor services, visit their NAPA Partner Corner page.
