Investment Advisor

Fidelity (Finally) Makes Jump into ETFs

While ETF assets have surged over the past five years, nearly tripling, Fidelity has watched assets in their actively managed stock mutual funds shrink 16% and corporate profits shrivel up.  We hate to say “we told you so”, but back in 2009, we explained why Fidelity had better move quickly to avoid “getting their lunch eaten by the ETF competition”.  Even then, it was clear that investors were quickly gravitating to low cost, tax efficient, and transparent ETFs.  Furthermore, investors were becoming acutely aware of the underperformance of active mutual fund managers, which is where Fidelity butters its bread.  At

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