Fidelity late but not too late with new ETFs

Pricing strategy called ‘punch in the face' to Vanguard

By Megan Durisin

Oct 23, 2013 @ 12:39 pm (Updated 5:21 pm) EST

Fidelity Investments is making its first big leap into the exchange-traded fund arena Thursday with the launch of 10 sector ETFs, but the question remains: Is it too little, too late?

“ETFs still have a long way to go before they catch up to mutual funds, and there's still room for entrants,” said Mike Rawson, an analyst at Morningstar Inc. “I think we should wait a few years to see what else Fidelity is able to do.”

Photo: Bloomberg News