Fidelity Aims to Break Into an ETF Market Dominated by Vanguard
- Vanguard’s patent on a dual-share structure expired in May
- The exchange-traded structure comes with tax advantages
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Fidelity Investments is seeking clearance that would allow some of its best-known mutual funds to also operate as exchange-traded funds, becoming the largest firm to challenge Vanguard Group’s former monopoly on the concept.
The Boston-based firm applied Tuesday for a government waiver that would allow its actively managed mutual funds to also issue a separate class of ETF shares, according to a regulatory filing.