Not to be outdone by Charles Schwab, Fidelity Investments announced the expansion of its commission-free exchange traded fund platform for investors and financial advisors to include over 500 ETF options, including additional popularly traded BlackRock iShares ETFs.
On February 28, Fidelity’s expanded commission-free ETF platform will include additional iShares ETFs as part of an extension of Fidelity’s partnership with BlackRock. Furthermore, the platform will include more choices among smart beta and actively managed ETF strategies from over ten asset managers and leading ETF providers in the months ahead.
“When combined with the unprecedented Fidelity ZERO Index Funds, significantly reduced pricing on Fidelity’s broad index fund line-up, and our award-winning research, investing tools and customer service, the announcement today further reinforces Fidelity’s relentless focus on providing investors with unparalleled value, simplicity and choice,” Anthony Rochte, head of Fidelity Institutional’s investments & technology group, said in a note. “Fidelity continues to lead the way with an offering we believe is unmatched, straightforward and delivers the best investment options in the way that is most impactful for clients and their needs.”
Fidelity currently offers 265 commission-free ETFs, including 25 of Fidelity’s factor, sector, stock and bond ETFs, along with 240 iShares ETFs.
Fidelity’s announcement comes off the heels of Charles Schwab’s decision to more or less double its lineup of commission-free ETFs on its OneSource platform. Schwab clients will be able to buy and sell 503 ETFs covering 79 Morningstar Categories with $0 online commissions, including the addition of iShares ETFs as of March 1, along with a number of other fund sponsors like Invesco, State Street Global Advisors and WisdomTree, among others.
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