Boston based mutual fund Fidelity Investments is launching its first zero expense ratio index funds on 3 August 2018 in the US.
The Fidelity ZERO Total Market Index fund (FZROX) and the Fidelity ZERO International Index fund (FZILX) will cut costs by tracking Fidelity’s in-house equity indices.
The funds will not have a minimum investment threshold and will invest in both US and international stocks with an expense ratio of zero.
Investors will pay no fee whatever the amount of assets they invest in the funds, while gaining exposure to nearly the entire global stock market. There is no minimum investment, and no domestic money movement fees for investors.