, Columnist
Fidelity’s No-Fee Funds Unleash the Power of Free
The ramifications go beyond a few basis points.
The zero effect.
Photographer: J.B. Reed/Bloomberg
This article is for subscribers only.
Fidelity Investments fired a shot heard around the investing world on Wednesday: It announced it would roll out two index mutual funds on Friday that charge no fees.
Both funds will track market cap-weighted Fidelity indexes. The Fidelity ZERO Total Market Index Fund will invest in the largest 3,000 U.S. companies based on float-adjusted market cap, and the Fidelity ZERO International Index Fund will hold the top 90 percent of stocks within various developed international and emerging countries.