Leading global asset manager Fidelity Investments has announced that it has lowered the fees on its range of US sector exchange-traded funds. The suite of ETFs will see their total expense ratios drop from 0.12% to 0.084%, effective from 1st July.

Fidelity has reduced the fees on its range of US sector equity ETFs from 0.12% to 0.084%.

Colby Penzone, senior vice president for Fidelity’s Investment Product Group, commented in a statement: “We are taking already one of the lowest cost index fund offerings in the industry and making it even more compelling.

“While cost matters, investors should also consider the overall experience and value a financial services firm can deliver when deciding where to invest…we believe Fidelity provides the best customer experience and value in the industry.”

The funds are listed on the NYSE Arca and track cap-weighted indices compiled and calculated by MSCI. Fidelity’s suite of US sector ETFs due to have their fees cut include the:

Fidelity MSCI Consumer Discretionary Index ETF (FDIS)
Fidelity MSCI Consumer Staples Index ETF (FSTA)
Fidelity MSCI Energy Index ETF (FENY)
Fidelity MSCI Financials Index ETF (FNCL)
Fidelity MSCI Health Care Index ETF (FHLC)
Fidelity MSCI Industrials Index ETF (FIDU)
Fidelity MSCI Information Technology Index ETF (FTEC)
Fidelity MSCI Materials Index ETF (FMAT)
Fidelity MSCI Telecommunications Index ETF (FCOM)
Fidelity MSCI Utilities Index ETF (FUTY)
Fidelity MSCI Real Estate Index ETF (FREL)

Fidelity manages more than $3.5bn in assets across 12 index ETFs.