Just over three years ago, Fidelity introduced a broad lineup of sector exchange-traded funds, indicating at least two things. First, the Boston-based funds giant was finally taking the rapidly-growing ETF business seriously, and secondly, that Fidelity was late to the ETF party.
To its credit, Fidelity has been making up for lost time. Fidelity ETFs now have over $5.16 billion in assets under management, putting the issuer among the top 20 U.S. ETF sponsors.
Plus, Fidelity has not been shy about bringing new ETFs to market. For example, earlier this year, the Fidelity ETF roster increased by six when the company introduced six new smart beta funds. Fidelity had previously followed up its sector lineup with a real estate ETF and fixed income funds.
While Fidelity ETFs have grown in number, the company is currently home to just 21 ETFs, a far smaller number than rivals such as iShares and Vanguard. That is not a bad thing, as it makes identifying the best Fidelity ETFs an easier task.