Fidelity Investments announced the “full availability” of its commission-free ETF platform and has added eleven new managers, bringing the total number of funds to over 500.
The firm announced Monday they added 150 new ETFs from the new managers, including American Century, Franklin Templeton, John Hancock Investments, J.P. Morgan Asset Management and Goldman Sachs Asset Management, PIMCO and State Street Global Advisors, among others. The announcement was a follow-up to an earlier announcement in February announcing intentions to expand the lineup of commission-free ETFs for retail clients and advisors.
Fidelity says assets under management in the ETFs available on the commission-free platform represent 40 percent of the overall U.S. ETF market. Fidelity itself has more than $450 billion in client assets under administration in ETFs.
The additional funds bring Fidelity in line with Schwab, which made a similar move in February and now also boasts over 500 commission-free ETFs on its OneSource platform, and TD Ameritrade, with, according to its website, over 570 ETFs available without commission.