“Last year we doubled down on our partnership with Fidelity and we are thrilled with the results,” said Mark Wiedman, global head of iShares at BlackRock, in the statement. “The outsized growth we’ve seen in our commission-free iShares ETFs, coupled with the increase in Fidelity accounts holding our funds, speaks volumes to how our growing partnership is resonating with the millions of investors who are turning to iShares ETFs for their long-term holdings.”
iShares ETFs available through Fidelity on a commission-free basis include the iShares Core S&P 500 ETF (NYSEArca: IVV), the iShares Select Dividend ETF (NYSEArca: DVY) and the iShares MSCI USA Minimum Volatility ETF (NYSEArca: USMV).
In October 2013, Fidelity rolled out 10 sector ETF sub-advised by BlackRock. In the first five months the 10 low-cost Fidelity passive sector ETFs, sub-advised by BlackRock, attracted more than $500 million in assets, the two firms said. The largest of those ETFs is the Fidelity MSCI Health Care Index ETF (NYSEArca: FHLC), which has $113.3 million in assets under management. [Fidelity Sector ETFs off to Strong Start]
“Annual advisory fees on the new Fidelity managed account will be between 0.55 percent and 1.1 percent of total assets invested, depending on the size of the investment,” according to Reuters.
ETF Trends editorial team contributed to this post. Tom Lydon’s clients own shares of DVY.