User:Lexor/Fidelity: Difference between revisions
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{{Infobox company | {{Infobox company | ||
| name = Fidelity Investments Inc | | name = Fidelity Investments Inc | ||
| logo = [[File:Fidelity_logo.png | | | logo = [[File:Fidelity_logo.png | 160 px]] | ||
| foundation = 1946; 74 years ago (as Fidelity Management & Research) | | foundation = 1946; 74 years ago (as Fidelity Management & Research) | ||
| location_city = Boston, Massachusetts, U.S.<br> | | location_city = Boston, Massachusetts, U.S.<br> | ||
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'''United States:'''<br> | '''United States:'''<br> | ||
Boston, Massachusetts | Boston, Massachusetts<br> Merrimack, New Hampshire<br> Smithfield, Rhode Island <br>Westlake, Texas <br>Covington, Kentucky <br>Durham, North Carolina <br>Albuquerque, New Mexico<br> Cincinnati, Ohio<br> Salt Lake City, Utah<br> Jacksonville, Florida<br> Greenwood Village, Colorado<br> American Fork, Utah<br> | ||
'''Canada:'''<br> | '''Canada:'''<br> | ||
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'''Fidelity Investments Inc''' is a Boston-based [[Mutual fund |mutual fund]] and financial services company and Vanguard's biggest competitor. | '''Fidelity Investments Inc''' is a Boston-based [[Mutual fund |mutual fund]] and financial services company and Vanguard's biggest competitor. | ||
<blockquote>"It's what I would do if I were Fidelity...I don't see that there is a really good competitive response...a winning response (for Vanguard)."'' -Jack Bogle, October 2018 on Fidelity ZERO cost index funds'' <ref>{{Cite web|title=Bogleheads 2018 Jack Bogle & Bill Bernstein Fireside Chat|url=https://vimeo.com/channels/bogleheads/293765659|publisher=Vimeo|date=2018}}</ref></blockquote> | |||
In recent years Fidelity has been notable for offering the lowest cost mutual funds, the first and only zero expense ratio index funds, commission free ETFs, no investment minimums and one of the first brokers to offer partial share investing. Fidelity was also one of the first brokers to combine its Institutional Premium class funds with Retail class funds and did so more completely than competitors like Vanguard. This resulted in individual investors having access to funds with extremely low expense ratios, well below what is available to individual investors at Vanguard, even compared to the $3,000-minimum Admiral Class shares. | In recent years Fidelity has been notable for offering the lowest cost mutual funds, the first and only zero expense ratio index funds, commission free ETFs, no investment minimums and one of the first brokers to offer partial share investing. Fidelity was also one of the first brokers to combine its Institutional Premium class funds with Retail class funds and did so more completely than competitors like Vanguard. This resulted in individual investors having access to funds with extremely low expense ratios, well below what is available to individual investors at Vanguard, even compared to the $3,000-minimum Admiral Class shares. | ||
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==Tools for Boglehead-style investing== | ==Tools for Boglehead-style investing== | ||
* Fidelity offers the lowest expense ratios in the industry, | * Fidelity offers the lowest expense ratios in the industry, which can save investors tens of thousands in costs over Vanguard during their investment time-frame - depending on their unique situation. <ref>{{Cite web|title=Cost Matters 2020|url=https://www.bogleheads.org/forum/viewtopic.php?t=302611}}</ref><ref>{{Cite web|title=Investing Ideas/Index Funds|url=https://www.fidelity.com/mutual-funds/investing-ideas/index-funds|publisher=Fidelity}}</ref> | ||
* Fidelity funds benefit more from security lending than Vanguard and Schwab funds. <ref>{{Cite web|title=Investing Ideas/Index Funds|url=https://www.morningstar.com/articles/904334/a-close-examination-of-the-risks-and-rewards-of-securities-lending|publisher=MorningStar}}</ref> | |||
* Fidelity funds have higher tracking precision to their benchmarks than Vanguard funds (lower tracking error) <ref>{{Cite web|author1=Chong Li|author2=Edward Tower|author3=Rhona Zhang|title=Vanguard versus Fidelity: Multidimensional Comparison of the Index Funds and ETFs of the Two Largest Mutual Fund Families|url=https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3361263|publisher=Economic Research Initiatives at Duke (ERID) Working Paper No. 283 (2019)|date=March 26, 2019}}, available at SSRN.</ref> | * Fidelity funds have higher tracking precision to their benchmarks than Vanguard funds (lower tracking error) <ref>{{Cite web|author1=Chong Li|author2=Edward Tower|author3=Rhona Zhang|title=Vanguard versus Fidelity: Multidimensional Comparison of the Index Funds and ETFs of the Two Largest Mutual Fund Families|url=https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3361263|publisher=Economic Research Initiatives at Duke (ERID) Working Paper No. 283 (2019)|date=March 26, 2019}}, available at SSRN.</ref> | ||
* Fidelity offers 4 ZERO Index Funds with a 0.00% expense ratio, the Fidelity ZERO Total Market Index Fund and the Fidelity ZERO International Index Fund, Fidelity Large Cap ZERO Index Fund and Fidelity Extended Market ZERO Index Fund. These funds track proprietary Fidelity indexes.<ref>{{Cite web|title=Index methodology|url=https://www.fidelity.com/bin-public/060_www_fidelity_com/documents/mutual-funds/Fidelity_mkt_cap_weighted_methodology.pdf|publisher=Fidelity}}</ref> | * Fidelity offers 4 ZERO Index Funds with a 0.00% expense ratio, the Fidelity ZERO Total Market Index Fund and the Fidelity ZERO International Index Fund, Fidelity Large Cap ZERO Index Fund and Fidelity Extended Market ZERO Index Fund. These funds track proprietary Fidelity indexes.<ref>{{Cite web|title=Index methodology|url=https://www.fidelity.com/bin-public/060_www_fidelity_com/documents/mutual-funds/Fidelity_mkt_cap_weighted_methodology.pdf|publisher=Fidelity}}</ref> | ||
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* Fidelity offers individual [[Treasury Bonds | treasury bonds]] (both nominal and TIPS) ''at auction'' free of commission or any markup or fees if you place your orders online. There is no limit on account size. No separate account is needed. The minimum purchase is $1,000. | * Fidelity offers individual [[Treasury Bonds | treasury bonds]] (both nominal and TIPS) ''at auction'' free of commission or any markup or fees if you place your orders online. There is no limit on account size. No separate account is needed. The minimum purchase is $1,000. | ||
==General | ==General strategy for Boglehead-style investing== | ||
* In tax exempt accounts hold Fidelity index funds. | * In tax exempt accounts hold Fidelity index funds. | ||
* | * Taxable accounts should invest in ETFs from iShares, Schwab, State Street or Vanguard and leverage Fidelity's partial share investing capability, which allows you to invest by dollar amount rather than number of shares. <ref>{{Cite web|title=Trading/Fractional Shares|url=https://www.fidelity.com/trading/fractional-shares|publisher=Fidelity}}</ref> ETFs should be used due to Vanguard's patent that allows Vanguard mutual funds to be more tax efficient than other broker's mutual funds. The patent expires in March 2021 and while it is possible that Fidelity mutual funds will use the same strategy to gain tax efficiency after March 2021, no such announcement has been made by Fidelity. | ||
==Index | ==Index funds== | ||
* This table shows the rough correspondence between Fidelity, Vanguard and Schwab mutual funds. The lowest expense ratios are in bold. In many cases they track different indexes so they are not precisely equivalent, however they are very similar. Bond funds have different durations and therefore interest risk. Other tickers can be found in the [https://www.fidelity.com/bin-public/060_www_fidelity_com/documents/press-release/Fidelity-Redefines-Investing.pdf appendix] to the press release. | * This table shows the rough correspondence between Fidelity, Vanguard and Schwab mutual funds. The lowest expense ratios are in bold. In many cases they track different indexes so they are not precisely equivalent, however they are very similar. Bond funds have different durations and therefore interest risk. Other tickers can be found in the [https://www.fidelity.com/bin-public/060_www_fidelity_com/documents/press-release/Fidelity-Redefines-Investing.pdf appendix] to the press release. | ||
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| 0.05% | | 0.05% | ||
| CRSP Large Cap Index | | CRSP Large Cap Index | ||
|- | |||
| rowspan="4" | Large Cap Growth | |||
| style="background: #DED2CF" | Fidelity Large Cap Growth Index Fund | |||
| style="background: #DED2CF" | FSPGX | |||
| style="background: #DED2CF" | '''0.035%''' | |||
| style="background: #DED2CF" | Russell 1000 Growth Index | |||
|- | |||
| Schwab Large Cap Growth Index Fund | |||
| SWLGX | |||
|'''0.035%''' | |||
| Russell 1000 Growth Index | |||
|- | |||
| Ishares Core S&P Large Growth ETF | |||
| IUSG | |||
| 0.04% | |||
| S&P 900 Growth Index | |||
|- | |||
| Vanguard Growth Index | |||
| VIGAX | |||
| 0.07% | |||
| CRSP Large Cap Growth Index | |||
|- | |||
| rowspan="4" | Large Cap Value | |||
| style="background: #DED2CF" | Fidelity Large Cap Value Index Fund | |||
| style="background: #DED2CF" | FLCOX | |||
| style="background: #DED2CF" | '''0.035%''' | |||
| style="background: #DED2CF" | Russell 1000 Value Index | |||
|- | |||
| Schwab U.S. Large-Cap Value Index Fund | |||
| SWLVX | |||
|''' 0.035%''' | |||
| Russell 1000 Value Index | |||
|- | |||
| Ishares Core S&P Large Value ETF | |||
| IUSV | |||
| 0.04% | |||
| S&P 900 Value Index | |||
|- | |||
| Vanguard Value Index | |||
| VVIAX | |||
| 0.07% | |||
| CRSP Large Cap Value Index | |||
|- | |- | ||
| rowspan="3" | [[Extended_market_index_fund|Extended Market]] | | rowspan="3" | [[Extended_market_index_fund|Extended Market]] | ||
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| 0.07% | | 0.07% | ||
| S&P MidCap 400 Index | | S&P MidCap 400 Index | ||
|- | |||
| rowspan="3" | Mid Cap Growth | |||
| style="background: #DED2CF" | Fidelity Mid Cap Growth Index Fund | |||
| style="background: #DED2CF" | FMGDX | |||
| style="background: #DED2CF" | '''0.05% ''' | |||
| style="background: #DED2CF" | Russell Mid Cap Growth Index | |||
|- | |||
| Vanguard Mid Cap Growth Index Fund | |||
| VMGMX | |||
| 0.07% | |||
| CRSP US Mid Cap Growth Index | |||
|- | |||
| iShares Mid-Cap Growth ETF | |||
| IWP | |||
| 0.24% | |||
| Russell Mid Cap Growth Index | |||
|- | |||
| rowspan="3" | Mid Cap Value | |||
| style="background: #DED2CF" | Fidelity Mid Cap Value Index Fund | |||
| style="background: #DED2CF" | FIMVX | |||
| style="background: #DED2CF" | '''0.05% ''' | |||
| style="background: #DED2CF" | Russell Mid Cap Value Index | |||
|- | |||
| Vanguard Mid Cap Value Index Fund | |||
| VMVAX | |||
| 0.07% | |||
| CRSP US Mid Cap Value Index | |||
|- | |||
| iShares Mid-Cap Growth ETF | |||
| IWS | |||
| 0.24% | |||
| Russell Mid Cap Growth Index | |||
|- | |- | ||
| rowspan="4" | Small Cap | | rowspan="4" | Small Cap | ||
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| IJR | | IJR | ||
| 0.07% | | 0.07% | ||
|S&P | |S&P Small Cap 600 Index | ||
|- | |||
| rowspan="3" | Small Cap Growth | |||
| style="background: #DED2CF" | Fidelity Small Cap Growth Index Fund | |||
| style="background: #DED2CF" | FECGX | |||
| style="background: #DED2CF" | '''0.05% ''' | |||
| style="background: #DED2CF" | Russell 2000 Growth Index | |||
|- | |||
| Vanguard Small Cap Growth Index Fund | |||
| VSGAX | |||
| 0.07% | |||
| CRSP US Small Cap Growth Index | |||
|- | |||
| iShares S&P Small-Cap Growth ETF | |||
| IJT | |||
| 0.25% | |||
| S&P Small Cap 600 Growth(R) Index | |||
|- | |||
| rowspan="3" | Small Cap Value | |||
| style="background: #DED2CF" | Fidelity Small Cap Value Index Fund | |||
| style="background: #DED2CF" | FISVX | |||
| style="background: #DED2CF" | '''0.05% ''' | |||
| style="background: #DED2CF" | Russell 2000 Value Index | |||
|- | |||
| Vanguard Small Cap Value Index Fund | |||
| VSIAX | |||
| 0.07% | |||
| CRSP US Small Cap Value Index | |||
|- | |||
| iShares S&P Small-Cap Value ETF | |||
| IJS | |||
| 0.25% | |||
| S&P Small Cap 600 Value(R) Index | |||
|- | |- | ||
| rowspan="5" | Real Estate | | rowspan="5" | Real Estate | ||
Line 303: | Line 410: | ||
| ICE U.S. Treasury 1-3 Year Bond Index | | ICE U.S. Treasury 1-3 Year Bond Index | ||
|- | |- | ||
| rowspan=" | | rowspan="5" | Intermediate-Term Treasury | ||
| style="background: #DED2CF" | Fidelity Intermediate Treasury Bond Index Fund | | style="background: #DED2CF" | Fidelity Intermediate Treasury Bond Index Fund | ||
| style="background: #DED2CF" | FUAMX | | style="background: #DED2CF" | FUAMX | ||
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| ICE U.S. Treasury 7-10 Year Bond Index | | ICE U.S. Treasury 7-10 Year Bond Index | ||
|- | |- | ||
| rowspan=" | | rowspan="4" | TIPS | ||
| style="background: #DED2CF" | Fidelity Inflation-Protected Bond Index Fund | | style="background: #DED2CF" | Fidelity Inflation-Protected Bond Index Fund | ||
| style="background: #DED2CF" | FIPDX | | style="background: #DED2CF" | FIPDX | ||
Line 449: | Line 556: | ||
== ETFs at Fidelity == | == ETFs at Fidelity == | ||
* This table shows the rough correspondence between Blackrock, Schwab ETFs, StateStreet and Vanguard that can be purchased commission free at Fidelity. In many cases they track different indexes so they are not precisely equivalent, however they are very similar. The lowest expense ratios are in bold, but keep in mind the importance of tax efficiency in a taxable account.<ref group="Note"> The fiscal year history of per share dividend and capital gains distributions from Fidelity, Vanguard, and Schwab index funds are available on spreadsheets published on the site blog. See [https://finpage.blog/2019/05/23/vanguard-per-share-distributions/ Vanguard funds: per share distributions] and [https://finpage.blog/2019/05/26/fidelity-and-schwab-index-funds-per-share-distributions/ Fidelity and Schwab index funds: per share distributions].</ref> | * This table shows the rough correspondence between Blackrock, Schwab ETFs, StateStreet and Vanguard that can be purchased commission free at Fidelity. In many cases they track different indexes so they are not precisely equivalent, however they are very similar. The lowest expense ratios are in bold, but keep in mind the importance of tax efficiency in a taxable account.<ref group="Note"> The fiscal year history of per share dividend and capital gains distributions from Fidelity, Vanguard, and Schwab index funds are available on spreadsheets published on the site blog. See [https://finpage.blog/2019/05/23/vanguard-per-share-distributions/ Vanguard funds: per share distributions] and [https://finpage.blog/2019/05/26/fidelity-and-schwab-index-funds-per-share-distributions/ Fidelity and Schwab index funds: per share distributions].</ref> | ||
TODO - Table of ETFs | TODO - Table of ETFs | ||
==HSA and ABLE | ==HSA and ABLE accounts== | ||
In these products - which are often abused with extremely high expenses - Fidelity has arguably the most compelling offering in the industry. You can use low cost Fidelity index funds in your HSA and ABLE accounts and Fidelity does not charge any additional fees.<ref>{{Cite web|title=Our 2019 Rankings of 11 Top HSA Providers| url=https://www.morningstar.com/articles/947613/our-2019-rankings-of-11-top-hsa-providers |publisher=Morningstar |last= Acheson |first= Leo |date = Oct 01, 2019 |access-date = January 31, 2020}}</ref><ref>{{Forum post | t = 263661| title = <nowiki>[Fidelity Health Savings Account Mega-Thread]</nowiki> | author= liberty53 | date= Nov 11, 2018}}</ref> | In these products - which are often abused with extremely high expenses - Fidelity has arguably the most compelling offering in the industry. You can use low cost Fidelity index funds in your HSA and ABLE accounts and Fidelity does not charge any additional fees.<ref>{{Cite web|title=Our 2019 Rankings of 11 Top HSA Providers| url=https://www.morningstar.com/articles/947613/our-2019-rankings-of-11-top-hsa-providers |publisher=Morningstar |last= Acheson |first= Leo |date = Oct 01, 2019 |access-date = January 31, 2020}}</ref><ref>{{Forum post | t = 263661| title = <nowiki>[Fidelity Health Savings Account Mega-Thread]</nowiki> | author= liberty53 | date= Nov 11, 2018}}</ref> | ||
Latest revision as of 00:02, 17 February 2020
Founded | 1946; 74 years ago (as Fidelity Management & Research) |
---|---|
Headquarters | Boston, Massachusetts, U.S. with regional offices in United States: Canada: Europe: Asia / Pacific: |
Products | Mutual funds Brokerage services 529 plans Health Savings Account (HSA) ABLE plans Credit cards Collective Investment Trusts Annuity subaccounts |
Revenue | US$18.2 billion |
AUM | US$2.46 trillion |
Total assets | US$6.7 trillion (total customer assets) |
Number of employees | 50,000+ |
Fidelity Investments Inc is a Boston-based mutual fund and financial services company and Vanguard's biggest competitor.
"It's what I would do if I were Fidelity...I don't see that there is a really good competitive response...a winning response (for Vanguard)." -Jack Bogle, October 2018 on Fidelity ZERO cost index funds [1]
In recent years Fidelity has been notable for offering the lowest cost mutual funds, the first and only zero expense ratio index funds, commission free ETFs, no investment minimums and one of the first brokers to offer partial share investing. Fidelity was also one of the first brokers to combine its Institutional Premium class funds with Retail class funds and did so more completely than competitors like Vanguard. This resulted in individual investors having access to funds with extremely low expense ratios, well below what is available to individual investors at Vanguard, even compared to the $3,000-minimum Admiral Class shares.
Boglehead-style investing at Fidelity
The building blocks of Boglehead-style investing are low-expense-ratio index mutual funds and/or ETFs. Fidelity offers the lowest cost index funds in the industry including 4 zero cost index funds and commission free ETFs.
Boglehead philosophy leverages low cost broad index funds. Fidelity has the lowest cost broad market index funds while Vanguard offers more narrow index funds and ETFs at higher costs (although not as many as Blackrock's iShares).
Here are some notes on how to do Boglehead style investing at Fidelity. Writers have striven for accuracy, but investors should verify information before taking action. Fidelity also provides a comparison of its funds to Vanguard.
Tools for Boglehead-style investing
- Fidelity offers the lowest expense ratios in the industry, which can save investors tens of thousands in costs over Vanguard during their investment time-frame - depending on their unique situation. [2][3]
- Fidelity funds benefit more from security lending than Vanguard and Schwab funds. [4]
- Fidelity funds have higher tracking precision to their benchmarks than Vanguard funds (lower tracking error) [5]
- Fidelity offers 4 ZERO Index Funds with a 0.00% expense ratio, the Fidelity ZERO Total Market Index Fund and the Fidelity ZERO International Index Fund, Fidelity Large Cap ZERO Index Fund and Fidelity Extended Market ZERO Index Fund. These funds track proprietary Fidelity indexes.[6]
- Fidelity offers commission free trades on individual stocks and ETFs
- Fidelity eliminated the minimum investment requirement on all its mutual funds and allows partial share investing of ETFs and stocks
- Fidelity no longer lists a charge for short-term sales of its funds; however, all ETF sales are subject to an activity assessment fee (from $0.01 to $0.03 per $1,000 of principal.)
- Fidelity offers individual treasury bonds (both nominal and TIPS) at auction free of commission or any markup or fees if you place your orders online. There is no limit on account size. No separate account is needed. The minimum purchase is $1,000.
General strategy for Boglehead-style investing
- In tax exempt accounts hold Fidelity index funds.
- Taxable accounts should invest in ETFs from iShares, Schwab, State Street or Vanguard and leverage Fidelity's partial share investing capability, which allows you to invest by dollar amount rather than number of shares. [7] ETFs should be used due to Vanguard's patent that allows Vanguard mutual funds to be more tax efficient than other broker's mutual funds. The patent expires in March 2021 and while it is possible that Fidelity mutual funds will use the same strategy to gain tax efficiency after March 2021, no such announcement has been made by Fidelity.
Index funds
- This table shows the rough correspondence between Fidelity, Vanguard and Schwab mutual funds. The lowest expense ratios are in bold. In many cases they track different indexes so they are not precisely equivalent, however they are very similar. Bond funds have different durations and therefore interest risk. Other tickers can be found in the appendix to the press release.
Fund Class | Fund Name | Ticker | ER | Index Tracked |
---|---|---|---|---|
US Stocks | ||||
Total US Stock Market | Fidelity ZERO Total Market Index Fund | FZROX | 0.00% | Fidelity U.S. Total Investable Market Index |
Fidelity Total Market Index Fund | FSKAX | 0.015% | Dow Jones US Total Stock Market Index | |
iShares Core S&P Total U.S. Stock Market ETF | ITOT | 0.03% | S&P Total Market Index | |
Schwab Total Stock Market Index Fund | SWTSX | 0.03% | Dow Jones U.S. Total Stock Market Index | |
Vanguard Total Stock Market Index Fund | VTSAX | 0.04% | CRSP Total Market Index | |
S&P 500 | Fidelity 500 Index Fund | FXAIX | 0.015% | S&P 500 |
Schwab 500 Index Fund | SWPPX | 0.02% | S&P 550 | |
Vanguard 500 Index Fund | VFIAX | 0.04% | S&P 500 | |
iShares Core S&P 500 ETF | IVV | 0.04% | S&P 500 | |
Large Cap | Fidelity ZERO Large Cap Index Fund | FNILX | 0.00% | Fidelity U.S. Large Cap Index |
Schwab U.S. Large-Cap ETF | SCHX | 0.03% | Dow Jones U.S. Large-Cap Total Stock Market Index | |
Vanguard Large Cap Index Fund | VLCAX | 0.05% | CRSP Large Cap Index | |
Large Cap Growth | Fidelity Large Cap Growth Index Fund | FSPGX | 0.035% | Russell 1000 Growth Index |
Schwab Large Cap Growth Index Fund | SWLGX | 0.035% | Russell 1000 Growth Index | |
Ishares Core S&P Large Growth ETF | IUSG | 0.04% | S&P 900 Growth Index | |
Vanguard Growth Index | VIGAX | 0.07% | CRSP Large Cap Growth Index | |
Large Cap Value | Fidelity Large Cap Value Index Fund | FLCOX | 0.035% | Russell 1000 Value Index |
Schwab U.S. Large-Cap Value Index Fund | SWLVX | 0.035% | Russell 1000 Value Index | |
Ishares Core S&P Large Value ETF | IUSV | 0.04% | S&P 900 Value Index | |
Vanguard Value Index | VVIAX | 0.07% | CRSP Large Cap Value Index | |
Extended Market | Fidelity Zero Extended Market Index Fund | FZIPX | 0.00% | Fidelity U.S. Extended Investable Market Index |
Fidelity Extended Market Index Fund | FSMAX | 0.045% | Dow Jones U.S. Completion Total Stock Market Index [8] | |
Vanguard Extended Market Index Fund | VEXAX | 0.08% | S&P Completion Index | |
Mid Cap | Fidelity Mid Cap Index Fund | FSMDX | 0.025% | Russell Mid Cap Index |
Schwab US Mid Cap Index Fund | SWMCX | 0.04% | Russell Mid Cap Index | |
Vanguard Mid Cap Index Fund | VIMAX | 0.05% | CRSP US Mid Cap Index | |
iShares Core S&P Mid-Cap ETF | IJH | 0.07% | S&P MidCap 400 Index | |
Mid Cap Growth | Fidelity Mid Cap Growth Index Fund | FMGDX | 0.05% | Russell Mid Cap Growth Index |
Vanguard Mid Cap Growth Index Fund | VMGMX | 0.07% | CRSP US Mid Cap Growth Index | |
iShares Mid-Cap Growth ETF | IWP | 0.24% | Russell Mid Cap Growth Index | |
Mid Cap Value | Fidelity Mid Cap Value Index Fund | FIMVX | 0.05% | Russell Mid Cap Value Index |
Vanguard Mid Cap Value Index Fund | VMVAX | 0.07% | CRSP US Mid Cap Value Index | |
iShares Mid-Cap Growth ETF | IWS | 0.24% | Russell Mid Cap Growth Index | |
Small Cap | Fidelity Small Cap Index Fund | FSSNX | 0.025% | Russell 2000 Index |
Schwab US Small Cap Index Fund | SWSSX | 0.04% | Russell 2000 Index | |
Vanguard Small Cap Index Fund | VSMAX | 0.05% | CRSP US Small Cap Index Index [9] | |
iShares Core S&P Small-Cap ETF | IJR | 0.07% | S&P Small Cap 600 Index | |
Small Cap Growth | Fidelity Small Cap Growth Index Fund | FECGX | 0.05% | Russell 2000 Growth Index |
Vanguard Small Cap Growth Index Fund | VSGAX | 0.07% | CRSP US Small Cap Growth Index | |
iShares S&P Small-Cap Growth ETF | IJT | 0.25% | S&P Small Cap 600 Growth(R) Index | |
Small Cap Value | Fidelity Small Cap Value Index Fund | FISVX | 0.05% | Russell 2000 Value Index |
Vanguard Small Cap Value Index Fund | VSIAX | 0.07% | CRSP US Small Cap Value Index | |
iShares S&P Small-Cap Value ETF | IJS | 0.25% | S&P Small Cap 600 Value(R) Index | |
Real Estate | Fidelity Real Estate Index Fund | FSRNX | 0.07% | Dow Jones U.S. Select Real Estate Securities Index |
Schwab U.S. REIT ETF | SCHH | 0.07% | Dow Jones U.S. Select REIT Index | |
Fidelity MSCI Real Estate Index ETF | FREL | 0.084% | MSCI USA IMI Real Estate Index | |
iShares Core U.S. REIT ETF | USRT | 0.08% | FTSE NAREIT Equity REITS Index | |
Vanguard Real Estate Index Fund | VGSLX | 0.12% | MSCI US Investable Market Real Estate 25/50 Index | |
International Stocks | ||||
Total International Stock Market | Fidelity ZERO International Index Fund | FZILX | 0.00% | Fidelity Global ex US Index (excludes small caps) |
Fidelity Total International Index Fund | FTIHX | 0.06% | MSCI ACWI ex USA IMI Index | |
iShares Core MSCI Total International Stock ETF | IXUS | 0.10% | MSCI ACWI ex USA IMI Index | |
Vanguard Total International Stock Index | VTIAX | 0.11% | FTSE Global All Cap ex US Index | |
Developed Markets [note 1] | Fidelity International Index Fund | FSPSX | 0.045% | MSCI EAFE Index (excludes small caps) |
iShares Core MSCI International Developed Markets ETF | IDEV | 0.05% | MSCI WORLD ex USA IMI Index | |
Schwab International Stock Index Fund | SWISX | 0.06% | MSCI EAFE Index | |
Vanguard Developed Markets Index Fund | VTMGX | 0.07% | FTSE Developed All Cap ex US Index | |
iShares Core MSCI EAFE | IEFA | 0.08% | MSCI EAFE IMI Index | |
Emerging Markets | Fidelity Emerging Markets Index Fund | FPADX | 0.08% | MSCI Emerging Markets Index (excludes small caps) |
Schwab Emerging Markets ETF | SCHE | 0.13% | FTSE Emerging Index | |
Vanguard Emerging Markets Index Fund | VEMAX | 0.14% | FTSE Emerging Markets All Cap China A Inclusion Index | |
iShares Core MSCI Emerging Markets | IEMG | 0.14% | MSCI Emerging Markets IMI Index | |
US Bonds | ||||
Short-Term Treasury | Fidelity Short-Term Treasury Bond Index Fund | FUMBX | 0.03% | Bloomberg Barclays 1-5 Year U.S. Treasury Index |
Schwab Short-Term Treasury ETF | SCHO | 0.05% | Bloomberg Barclays US Treasury 1-3 Year Inde | |
Vanguard Short-Term Treasury Index Fund | VSBSX | 0.07% | Bloomberg Barclays US Treasury 1–3 Year Bond Index | |
iShares 1-3 Year Treasury Bond ETF | SHY | 0.15% | ICE U.S. Treasury 1-3 Year Bond Index | |
Intermediate-Term Treasury | Fidelity Intermediate Treasury Bond Index Fund | FUAMX | 0.03% | Bloomberg Barclays 5-10 Year U.S. Treasury Bond Index |
Schwab Intermediate-Term Treasury ETF | SCHR | 0.05% | Bloomberg Barclays US Treasury 3-10 Year Index | |
Vanguard Intermediate-Term Treasury Index Fund | VSIGX | 0.07% | Bloomberg Barclays US Treasury 3–10 Year Bond Index | |
iShares 3-7 Year Treasury Bond ETF | IEI | 0.15% | ICE U.S. Treasury 3-7 Year Bond Index | |
iShares 7-10 Year Treasury Bond ETF | IEF | 0.15% | ICE U.S. Treasury 7-10 Year Bond Index | |
TIPS | Fidelity Inflation-Protected Bond Index Fund | FIPDX | 0.05% | Bloomberg Barclays U.S. TIPS Index |
Schwab U.S. TIPS ETF | SCHP | 0.05% | Bloomberg Barclays US Treasury Inflation-Linked Bond Index (Series-L) | |
Vanguard Inflation Protected Securities Fund | VAIPX | 0.10% [note 2] | Not an index fund | |
iShares TIPS Bond ETF | TIP | 0.20% | Bloomberg Barclays U.S. TIPS Index | |
Long-Term Treasury | Fidelity Long-Term Treasury Bond Index Fund | FNBGX | 0.03% | Bloomberg Barclays US Long Treasury Bond Index |
Schwab Long-Term U.S. Treasury ETF | SCHQ | 0.05% | Bloomberg Barclays US Long Treasury Index | |
Vanguard Long-Term Treasury Index Fund | VLGSX | 0.07% | Bloomberg Barclays U.S. Long Treasury Index | |
iShares 20+ Year Treasury Bond ETF | TLT | 0.15% | ICE U.S. Treasury 20+ Year Bond Index | |
Aggregate Bond | Fidelity U.S. Bond Index Fund | FXNAX | 0.025% | Bloomberg Barclays U.S. Aggregate Bond Index |
Schwab U.S. Aggregate Bond Index Fund | SWAGX | 0.04% | Bloomberg Barclays US Aggregate Bond Index | |
Vanguard Total Bond Market Index Fund | VBTLX | 0.05% | Bloomberg Barclays U.S. Aggregate Float Adjusted Index | |
iShares Core U.S. Aggregate Bond ETF | AGG | 0.05% | Bloomberg Barclays US Aggregate Bond Index | |
International Bonds | ||||
ex-US Aggregate Bond | Fidelity International Bond Index Fund | FBIIX | 0.06% | Bloomberg Barclays Global Aggregate ex-USD Float Adjusted RIC Diversified Index (USD Hedged) |
iShares Core International Aggregate Bond ETF | IAGG | 0.09% | Bloomberg Barclays Global Aggregate ex USD 10% Issuer Capped (Hedged) Index | |
Vanguard Total International Bond Index Fund | VTABX | 0.11% | Bloomberg Barclays Global Aggregate ex-USD Float-Adjusted Index (Hedged) | |
Balanced Funds | ||||
Target-date funds | Fidelity Freedom® Index Funds | Various | 0.12% | |
Schwab Target Funds | Various | 0.08% | ||
Vanguard Target Retirement Funds | Various | 0.13% - 0.15% | ||
Fixed allocation funds | Fidelity Four-in-One Index Fund | FFNOX | 0.11% | 85/15 index fund |
Vanguard LifeStrategy | VASIX, VSCGX, VSMGX, VASGX | 0.11% - 0.14% | 20/80 to 80/20 allocations | |
iShares Core Allocation ETFs | AOK, AOM, AOR, AOA | 0.25% | 30/70 to 80/20 allocations |
ETFs at Fidelity
- This table shows the rough correspondence between Blackrock, Schwab ETFs, StateStreet and Vanguard that can be purchased commission free at Fidelity. In many cases they track different indexes so they are not precisely equivalent, however they are very similar. The lowest expense ratios are in bold, but keep in mind the importance of tax efficiency in a taxable account.[Note 1]
TODO - Table of ETFs
HSA and ABLE accounts
In these products - which are often abused with extremely high expenses - Fidelity has arguably the most compelling offering in the industry. You can use low cost Fidelity index funds in your HSA and ABLE accounts and Fidelity does not charge any additional fees.[10][11]
Notes
- ↑ The fiscal year history of per share dividend and capital gains distributions from Fidelity, Vanguard, and Schwab index funds are available on spreadsheets published on the site blog. See Vanguard funds: per share distributions and Fidelity and Schwab index funds: per share distributions.
References
- ↑ "Bogleheads 2018 Jack Bogle & Bill Bernstein Fireside Chat". Vimeo. 2018.
- ↑ "Cost Matters 2020".
- ↑ "Investing Ideas/Index Funds". Fidelity.
- ↑ "Investing Ideas/Index Funds". MorningStar.
- ↑ Chong Li; Edward Tower; Rhona Zhang (March 26, 2019). "Vanguard versus Fidelity: Multidimensional Comparison of the Index Funds and ETFs of the Two Largest Mutual Fund Families". Economic Research Initiatives at Duke (ERID) Working Paper No. 283 (2019)., available at SSRN.
- ↑ "Index methodology" (PDF). Fidelity.
- ↑ "Trading/Fractional Shares". Fidelity.
- ↑ See, Dow Jones US Total Stock Market Indexes Literature.
- ↑ Vanguard also offers the Vanguard Russell 2000 ETF.
- ↑ Acheson, Leo (Oct 01, 2019). "Our 2019 Rankings of 11 Top HSA Providers". Morningstar. Retrieved January 31, 2020.
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(help) - ↑ Bogleheads forum topic: "[Fidelity Health Savings Account Mega-Thread]", liberty53. Nov 11, 2018