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Any news on the Fidelity Sparatan Small Cap fund?

Paul
edited April 2011 in Fund Discussions
A long time ago, fund alarm talked about this fund. I haven't seen much of anything since then. Any idea what happened?

http://www.fundalarm.com/arc0309.htm

"Fidelity Spartan Small Cap Index Fund will try to provide investment results that correspond to the total return of stocks of small-capitalization United States companies. It will invest in a sample of all small cap companies so it can match the characteristics of the small cap universe without needing to invest in every blessed company. In a small twist, the fund will be able to lend securities in order to earn a bit of extra income. Expenses will be 0.20% and the minimum purchase is $10,000."

Comments

  • InvestorInvestor
    I am not sure if it exists at this time. The closest Fidelity Spartan Index fund is FSEMX - Fidelity Extended Market Index..

    As an alternative, you can try FCPEX - Fidelity Small Cap Enhanced Index which is a quant fund that samples the index but has been slightly lagging Vanguard Small Cap Index fund.

    If you are at Fidelity and want to invest in index funds, than your better alternative is probably one of those Transaction fee free ETFs that Fidelity offers.

    See the following link: http://personal.fidelity.com/products/trading/What_You_Can_Trade/WYCT_ETFs_Category.shtml
  • [Deleted User][Deleted User]
    Thanks, Investor. I appreciate your insight!:)
  • msf
    Doesn't seem to have issued. Here's the last preliminary prospectus filed:
    http://www.sec.gov/Archives/edgar/data/819118/000081911808000012/main.htm

    It was supposed to track the Russell 2000, which I feel is just about the worst broad index to track (widely followed, subject to front running, tends to underperform the section of the market it supposedly measures).

    I'd be more inclined to go with Vanguard's Vanguard's Small Cap Index (NAESX, $3K min, 0.28% ER; VSMAX $10K min, 0.14% ER; tracks MSCI 1750 rather than Russell 2K) in any case. I'd pass on Vanguard's ETF share class, VB, of this fund, as it doesn't get you shares that are any cheaper (still 0.14% ER, plus possible commissions, plus bid/ask spread). Vanguard switched from Russell 2000 to MSCI 1750 in 2003. Cheaper, less front running, better performance. Hard to argue against it (vs. an R2K fund).

    All costs/mins from Vanguard's web site (some ERs differ from prospectuses; I assume that VG's web page communicates current expenses more accurately).
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