Vanguard, Fidelity, and Schwab have been engaging in a fierce competition to claim the mantle as the leading provider of low-cost index funds. As a result, each has aggressively lowered their fees for their index fund offerings over the past few years and advertised their low-cost offerings to investors.
After the latest round of fee reductions in mid-2017, I wrote a post speculating whether it was inevitable that Vanguard, Fidelity, or Schwab would offer a zero expense ratio mutual fund.
That’s right, an index fund that charges no management fee to its investors.
On August 3, 2018, Fidelity made the zero expense ratio index fund a reality, when they began offering the Fidelity ZERO Total Market Index Fund (FZROX), and the Fidelity ZERO International Index Fund (FZILX) to investors.
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