Fidelity is cutting the fees for a popular dividend fund nearly in half, the asset management company announced Monday.
The Fidelity High Dividend ETF (FDVV) is seeing its fee cut to 15 basis points, or 0.15%, from 29 basis points.
The fee cuts for FDVV and 12 other factor ETFs will reduce fees by $6 million annually, according to Fidelity.
The FDVV has an average annual total return of 9.2% over the past five years.
Those offerings, including the new Fidelity Enhance Large Cap Core ETF (FELC), will also see large drops in fees as part of the conversion process.
Persons:
Greg Friedman, Fidelity's
Organizations:
Fidelity, CNBC, Morningstar, SEC, Core