Fidelity is launching its first ETF share classes this week, adding exchange-traded versions to three existing mutual fund strategies: the Fidelity Intermediate Municipal Income Fund, the Fidelity Real Estate Income Fund, and the Fidelity Short-Term Bond Fund. The new ETFs, trading under tickers FIMU, FREI, and FSTB on Nasdaq, share the same portfolios, objectives, management, and performance histories as their mutual fund counterparts. FIMU will carry an estimated net expense ratio of 0.30%, FREI 0.57%, and FSTB 0.20%. Existing shareholders on Fidelity's platform can convert mutual fund shares into the new ETF classes as a non-taxable event. The move follows regulatory changes that have opened the door to broader adoption of the ETF share-class structure, with Northern Trust filing for its own just last week.
Northern Trust CorporationNorthern Trust filed for its own ETF share-class structure following regulatory changes, mentioned as context
