Mutual fund giants Vanguard and Fidelity announced new exchange-traded funds Thursday, with Vanguard launching two active municipal bond ETFs and Fidelity introducing five actively managed stock ETFs.
New Fidelity ETFs
Fidelity’s new ETFs, available commission-free on the company’s online brokerage platforms, build on offerings launched over the past year.
They are:
- Fidelity Enhanced U.S. All-Cap Equity ETF (FEAC)
- Fidelity Enhanced Emerging Markets ETF (FEMR)
- Fidelity Fundamental Developed International ETF (FFDI)
- Fidelity Fundamental Global ex-U.S. ETF (FFGX)
- Fidelity Fundamental Emerging Markets ETF (FFEM)
The products carry gross expense ratios of 0.18% for FEAC, 0.38% for FEMR, 0.55% for FFDI and FFGX, and 0.60% for FFEM.
“The expansion of Fidelity’s core active equity suites speaks to our ability to combine the best of our fundamental and quantitative teams to deliver differentiated actively managed investment products,” Fidelity’s head of ETF Management and Strategy, Greg Friedman, said.
The Enhanced ETFs use a quantitative evaluation process, while the Fundamental ETFs combine ideas from fundamental active managers and a quantitative portfolio construction process.
