New Suite of 10 ETFs Offers Investors and Advisors Greater Choice and
Value; Company Also Introduces New Sector Educational Resources and Tools
Investments®, a leading global asset management firm with
$1.9 trillion in managed assets,2 today announced it has
significantly expanded its sector investing platform for investors and
financial advisors with the introduction of the company’s first suite of
passive sector exchange traded funds (ETFs).
Fidelity’s 10 new passive sector ETFs will commence trading on the New
York Stock Exchange today, October 24, 2013, at 9:30 a.m. Eastern Time.
These ETFs will be the lowest-cost passively managed sector ETFs in the
industry3 with total expense ratios of just 0.12 percent4
-- nearly 80 percent below the industry average for passive sector ETFs5.
In addition, investors and registered investment advisors (RIAs) can
purchase Fidelity’s ETFs commission-free online* through one of
Fidelity’s brokerage platforms.
Fidelity, which has more than 30 years of global sector investing
experience, currently offers 44 actively managed sector mutual funds
with more than $50 billion in assets6, the industry’s largest
lineup of sector mutual funds.7 This new suite of sector ETFs
complements the firm’s sector mutual funds, ensuring that investors have
access to both actively managed and passively managed products.
“Since the financial crisis five years ago, investors and advisors have
told us that they are looking for additional ways to diversify their
portfolios and get exposure to specific industries outside of the
typical cap-weighted or style specific options such as large or small
cap, or growth and value,” said Anthony Rochte, president of SelectCo,
the company’s dedicated sector investing division. “Our new passive
sector ETFs can provide for that diversification, serving as building
blocks to help investors and advisors find new ways of generating alpha
through asset allocation and better manage portfolio risk.”8
Fidelity is also making it easier for investors and advisors to learn
more about the growing field of sector investing through the creation of
sector-specific micro sites. These sites make it easy to access
Fidelity’s latest sector thought leadership, research, guidance tools
“It’s not enough to just provide new products today,” said Ram
Subramaniam, president of Fidelity Brokerage. “To help our 10 million
brokerage customers better understand sectors and make more informed
investment decisions, we knew we needed to develop a world-class sector
platform that brings together investment insights, research, education
and highly customizable screeners for finding sector stocks, ETFs and