Mutual fund giant Fidelity made its first sizable entry into the exchange traded products industry in late October with the introduction of 10 sector funds.

Backed by a partnership with BlackRock, Fidelity’s sector ETF effort faces intense competition from established providers of sector ETFs. State Street’s (NYSE: STT) State Global Advisors and Vanguard are the two dominant providers of U.S.-focused sector ETFs while BlackRock’s iShares has own strong lineup of sector funds.  [Fidelity Sector ETFs Look to Challenge Bigger Rivals]

Still, after nearly six months on the market, it is fair to say Fidelity’s sector ETFs are off to solid starts. As of March 4, Fidelity 10 sector ETFs had nearly $481 million in combined assets under management, according to XTF data.

The Fidelity MSCI Health Care Index ETF (NYSEArca: FHLC)  has benefited from investors flocking to ETFs tracking health care, the S&P 500’s top-performing sector this year. FHLC had $114.4 million in assets as of March 4, according to XTF data, making it the only one of the Fidelity sector to funds to have thus far crossed the $100 million mark.  [Health Care ETFs Lead Market Higher]

With nearly $80 million in assets, the Fidelity MSCI Information Technology Index ETF (NYSEArca: FTEC) should be the next Fidelity sector ETF to hit $100 million in assets. FTEC is the second-largest of the 10 ETFs with a sizable lead over the $53.6 million Fidelity MSCI Industrials Index ETF (NYSEArca: FIDU). [Fidelity Makes Its ETF Presence Felt]

Fidelity sector ETFs do have at least one key advantage in the ultra-competitive sector ETF space: Cost. Each of the 10 funds charges just 0.12% per year, the lowest annual fees among sector ETFs. With the exception of the Vanguard Financials ETF (NYSEArca: VFH), which charges 0.19% per year, Vanguard’s other sector ETFs charge 0.14%.