https://www.cnbc.com/amp/2018/09/04/fidelity-offers-first-ever-free-index-funds-and-1-billion-follows.html
Call me skeptical. Given what’s going on in our country, I no longer believe everything I read. So many of these large corporations are playing the media...
I doubt a new $1 billion came into the firm after launching an index fund with zero fees. Its only a matter of time until the likes of Schwab and Vanguard offer similar products. Fees or no fees, it doesn't matter if your fund performance lags.
JP Morgan threw another wrench be offering on fee trades so it will be interesting to see how that changes things.
Vanguard's total stock market ETF just hit $100 billion
To put the Fidelity early success into perspective, it still has a long way to go to catch Vanguard.
100% most of the $1 billion came from mutual funds and ETFs that was already at the firm. The bozos lost money.
No chance they brought in $1 billion in net new money.