Fidelity Tries to Out-Vanguard Vanguard With Latest Fee Cuts
- Firm says its index mutual funds and sector ETFs now cheaper
- Price war heats up as passive-fund rivals race toward bottom
Schwab's New Filing May Kick Off ETFs' No-Fee Future
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Fidelity Investments is trying to beat Vanguard Group at its own game.
Fidelity will cut fees on 14 passive products, saying its stock and bond index mutual funds and sector exchange-traded funds now have net expenses lower than comparable Vanguard funds. The reductions, which take effect Aug. 1 and apply to most share classes, will save investors about $18 million a year, the Boston-based firm said in a statement Monday.