Fidelity to Launch 2 Active ETFs
Fidelity Investments says it will launch two new active ETFs by Feb. 26 — the Fidelity Fundamental Large Cap Value ETF (FFLV) and Fidelity Low Duration Bond ETF (FLDB), with management fees of .38% and .20%, respectively.
The fund giant also is planning the rollout of its Fundamental ETF equity suite this month with lower fees, new names and asset management tweaks to three existing funds: the Fidelity Growth Opportunities ETF (FGRO), Fidelity New Millennium ETF (FMIL) and Fidelity Small-Mid Cap Opportunities ETF (FSMO).
Management fees on two funds being updated — the Fidelity Fundamental Large Cap Growth ETF (FFLG), which replaces FGRO, and the Fidelity Fundamental Large Cap Core ETF (FFLC), which replaces FMIL — will each drop to .38% from .59%.
The Fidelity Fundamental Small-Mid Cap ETF (FFSM), replacing FSMO, will reduce its management fee to .43% from .60%.
“This launch builds on our legacy of active management through the ETF wrapper, as we continue to leverage both our fundamental approach along with quantitative construction techniques,” according to Greg Friedman, Fidelity’s head of ETF Management and Strategy.
