What You Need to Know
- The ETFs invest in clean energy, cloud computing, digital health and electric vehicles.
- All four funds invest at least 80% of their assets in proprietary Fidelity indexes and carry the names of those indexes.
- All four funds have a net expense ratio of 0.39%.
Fidelity Investments has expanded its offerings of thematic ETFs with the launch of four new funds, including two focused on renewable energy.
Each new ETF invests at least 80% of its assets in the firm’s proprietary all-cap index of the same name, trades on the Cboe BZX Exchange and has a net expense ratio of 0.39%.
The four new funds are the Fidelity Clean Energy ETF (FRNW), Fidelity Cloud Computing ETF (FCLD), Fidelity Digital Health ETF (FDHT) and Fidelity Electric Vehicles and Future Transportation ETF (FDRV).
“Thematic investing is a significant growth area as investors increasingly look for opportunities to enhance their portfolios and align their investments with their values and personal passions,” said Greg Friedman, Fidelity head of ETF management and strategy.
With these new additions, Fidelity now has 33 mutual funds and ETFs covering several thematic categories, including disruption, megatrends and sustainability.