Fidelity Debuts First ETF Share Classes for Bond and Income Funds

Fidelity launches its first ETF share classes, adding ETF versions of its Intermediate Municipal Income (FIMU), Real Estate Income (FREI), and Short-Term Bond (FSTB) mutual fund strategies. The new ETF classes will share the same portfolios, management teams, and performance histories as the existing funds. Fidelity says recent regulatory changes enabled the move, expanding investor choice while allowing eligible mutual fund shareholders to convert to ETF shares on a non-taxable basis. The launch brings Fidelity’s ETF and ETP lineup to 84 products with $172 billion in assets.