2023 saw active ETFs add to their AUM in a major way. Managers looked to take advantage of ETFs’ tax efficiency as well as active funds’ ability to ride volatility in a complicated year. That saw asset managers like Fidelity Investments take advantage, with the firm climbing the ranks of active ETF managers. The rising profile may invite investors to consider which among Fidelity’s active ETFs could appeal in 2024.
Per data from Morningstar Direct cited by Ignite, Fidelity Investments climbed into the top ten reaching $17.7 billion in active ETF AUM as of November 30th.
The Fidelity Total Bond ETF (FBND) had a year-to-date NAV return of 6.84% (net) as of December 31st, outperforming the Bloomberg Aggregate Bond Index by 1.31%. The active ETF, which will hit its ten-year milestone this year, ended December with $6.7B in assets. That has helped FBND become the largest active core plus ETF in the market.
Active ETF FBCG’s AUM
FBCG, the Fidelity Blue Chip Growth ETF, saw its AUM rise to more than $1,021 million as of December 31st. FBCG invests in blue chip firms, including but not limited to tech firms like the so-called “Magnificent Seven.” It also invests in firms like Eli Lilly (LLY) and NXP Semiconductors (NXPI) that meet its criteria.
Those strong numbers for the firm’s active ETF suite come following a slew of conversions to active for Fidelity Investments. The firm’s embrace of non-traditional factors, as well as quantitative research into investment opportunities, underlines its ascent through the active ETF rankings. For those investors looking at active ETF options to start the new year, it may be worth keeping an eye on Fidelity Investments’ roster.
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