For the investor looking for sector exposure with rock-bottom annual fees, Fidelity’s suite of 10 sector funds launched in October 2013 demands attention. At the end of October, seven of those 10 ETFs had over $100 million in assets under management, including nearly $273 million for the Fidelity MSCI Information Technology Index ETF (NYSEArca: FTEC). [Fidelity’s Rapid Rise]
Like the other Fidelity sector ETFs, FTEC charges just 0.12% per year, making the Fidelity sector ETFs less expensive than even their Vanguard rivals.
“FTEC offers more exposure to semiconductors and data processing & outsourced services companies and no exposure to integrated telecom services stocks,” according to S&P Capital IQ, which rates the ETF overweight.
Another interesting feature of FTEC is its weight to Apple, which at 15.7% is among the largest of all ETFs.
Fidelity MSCI Information Technology Index ETF
Tom Lydon’s clients own shares of Apple.