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Fidelity Mutual Fund Pricing

Fidelity Investments has long been known for its mutual funds, and it’s going to be even more famous for them now. The brokerage firm has eliminated some unattractive fund policies, and this change will make it easier for many small investors to buy mutual funds...and with lower fees, too.

New Policies

The first change we really like is that Fidelity has eliminated all investment minimums from its funds. For many years, the minimum to get in a Fidelity mutual fund was $2,500. Now the minimum is $0.01. Yes, we actually tried this, and it works. A penny and you’re in. This is great for small accounts or young investors who need to start out gradually. But wait, there’s more.

The brokerage firm has also launched a new mutual fund with a 0.00% expense ratio. Yep, you got it; there is no management fee on this fund. Called Fidelity Zero International Index Fund, FZILX invests in foreign stocks in both emerging and developed markets, and does it free of charge. There also is no transaction fee on this Fidelity fund or any other Fidelity fund when traded at Fidelity. Other brokerage firms may or may not charge a transaction fee.

A second mutual fund that the broker is also offering with no expense ratio is the Zero Total Market Index Fund (FZROX). This investment is composed of domestic stocks. So whether you’re interested in foreign or domestic equities, Fidelity has you covered with zero fees.

Other Expense Ratios Reduced

Besides bringing the above two funds down to 0%, Fidelity has lowered expense ratios on other funds. For example, the broker’s S&P 500 and Dow Jones index funds now have management fees of just 1.5 basis points each per year. We found other funds with expense ratios from 0.03% to less than half a percentage point. A few funds are still above 1.00%. These tend to be global and commodity funds.

Some Fidelity Mutual Fund Fees Remain

Fidelity mutual funds have no loads, either on the front side or back side. Other fund families may impose loads on their funds, and there’s nothing Fidelity can do about this. The load is charged by the fund family that manages the fund.

As for transaction fees, Fidelity still has a $49.95 fee for non-NTF funds. There are nearly 7,000 of these on the broker’s platform. A few funds actually charges $75. In either case, the fee is only assessed on the buy side.

These two fees are only valid for website trades. Using the broker’s automated phone systems costs 0.5625% of principal with a $75 minimum and $187.50 maximum. Placing a trade with a live rep is 0.75% of trade value, with a $100 minimum and $250 maximum.

For no-transaction-fee funds, Fidelity also has a fee. It too is $49.95 and is assessed for any NTF fund that is sold in under 2 months.

Mutual Fund Tools at Fidelity

If you decide to take the plunge and make an investment at Fidelity, the broker’s website has some good learning tools in case you need to study up on mutual funds. We found articles, videos, webinars, self-guided courses, and one infographic on both mutual and exchange-traded funds. These resources can be sorted by experience level for easy navigation.

Fidelity Mutual Fund Cost

Once you’re ready to search for a specific fund, the broker’s mutual fund screener is able to look for investment opportunities based on a wide variety of criteria. For example, it’s possible to search based on fund category, Morningstar rating, expense ratio, volatility, fund family, and more. One feature that the tool cannot search by is load status, and we consider this a major blunder on Fidelity’s part.

We found 10,548 funds with Fidelity’s screener. More than 3,600 have no transaction fee, and about half of these also have no load.

Fidelity Incentive Disclosure

Fidelity promotions for 2022 can change at any time. Current Fidelity incentive offers for opening new account brokerage or IRA account apply only to US citizens or legal residents.

Updated on 3/22/2021.

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