Fidelity has passed the $1 billion mark in assets under management for the 10 sector ETFs it launched last October. Assets in these exchange-traded funds have tripled from the start of 2014. Fidelity joins other fairly recent ETF entrants such as Deutsche Bank, Global X and Emerging Global Advisors in reaching the $1 billion milestone. But Fidelity's inflows have been spread across all of its products rather than pouring into one or two blockbuster funds. All but one of Fidelity's ETFs -- the Fidelity MSCI Consumer Staples Index ETF (FSTA) -- has more than doubled in size this year, according to data compiled by Bloomberg. Fidelity's offerings have a couple of investor-friendly things going for them. They're the cheapest ETFs in each of the 10 sectors -- they charge 0.12 percent of assets annually. That said, the hugely popular sector ETFs from State Street Corp., Vanguard Group Inc. and BlackRock Inc. all have higher trading volumes, and so slightly lower trading costs. A deep bench of holdings is another
U.S. stock exchanges and one of the world’s largest mutual fund companies called for greater public disclosure or elimination of obscure incentives and fees that lawmakers said favor the interests of high-speed traders over other investors.
Executives from exchange operators and fund companies are starting to join lawmakers and regulators in warning that the world’s largest equities market is beset with conflicts that may harm investors and undermine confidence.