FYI: Fidelity Investments is stepping up its rivalry with Vanguard Group by launching five new index mutual funds with expense ratios it says are lower than the equivalent products at its competitior.
Fidelity, which has $2.8 trillion under management, on Tuesday announced the addition of four index funds with expense ratios of 0.05% that invest in either mid-cap or small-cap growth or value stocks, as well as a municipal bond vehicle charging 0.07%. Expense ratios on equivalent funds at Vanguard range from 0.06% to 0.19% depending on the class of investor, according to data compiled by Bloomberg.
Regards,
Ted
https://www.bloomberg.com/news/articles/2019-07-16/fidelity-steps-up-fee-war-with-vanguard-by-adding-low-cost-funds
