Fidelity had been working on listing a family of ETFs based on its stable of active sector mutual funds, according to the report.
In the recent filing, Fidelity said the active ETFs would publish the composition of their portfolios every day, making them “largely transparent.”
“Our decision to file for exemptive relief is part of Fidelity’s ongoing commitment to always look for new ways to provide our clients with the products and services they need to meet their financial goals,” said Fidelity spokesman Jeff Cathie in an Ignites.com report.
According to the filing, the Fidelity active ETFs may make use of derivatives. In a speech last week, Norm Champ, director of the SEC’s investment management division, said the regulator was lifting a moratorium on active ETFs that invest in derivatives. [SEC to Lift Freeze on Active ETFs]