The fees on the fund giant's 11 sector ETFs will drop to 0.084% from 0.12%, undercutting the sector ETF charges on Vanguard's lineup (currently 0.1%).
Those ETFs with cuts: Fidelity MSCI Consumer Discretionary Index ETF (NYSEARCA:FDIS), Fidelity MSCI Consumer Staples Index ETF (NYSEARCA:FSTA), Fidelity MSCI Energy Index ETF (NYSEARCA:FENY), Fidelity MSCI Financials Index ETF (NYSEARCA:FNCL), Fidelity MSCI Health Care Index ETF (NYSEARCA:FHLC), Fidelity MSCI Industrials Index ETF (NYSEARCA:FIDU), Fidelity MSCI Information Technology Index ETF (NYSEARCA:FTEC), Fidelity MSCI Materials Index ETF (NYSEARCA:FMAT), Fidelity MSCI Telecommunications Index ETF (NYSEARCA:FCOM), Fidelity MSCI Utilities Index ETF (NYSEARCA:FUTY), Fidelity MSCI Real Estate Index ETF (NYSEARCA:FREL)
BHP Billiton (NYSE:BHP) -7.5% in London and -5.5% U.S. premarket after S&P Capital IQ downgraded shares to Hold from Buy, expecting "weaker commodity prices to increasingly impact on group profits as hedges expire and see currency headwinds from a stronger [U.S. dollar]."
The selloff accelerates, with the Nasdaq 100 (QQQ) and Russell 2000 (IWM) each now lower by 2.3%. Little-changed earlier, selling comes to the S&P 500 (SPY -0.7%) and DJIA (DIA -0.4%).
What's working? Emerging markets for one. Another area of green is the utility sector (XLU +0.9%). Healthcare (XLV -0.8%) would usually get a bid on these days, but it's being dragged down by the continuing liquidation of the biotechs. There are also some pockets of green in basic materials (XLB -0.7%).
Krinsky's charts tell him the sector has been making higher lows since the 2009 bottom, but unlike the broad market and many other sectors, it has yet to clear its 2007-08 highs, giving the look of an ascending triangle - and the presumption of an upside resolution.
The mutual fund giant greatly boosts its ETF presence, rolling out 10 sector ETFs on Thursday, with BlackRock (BLK) - whose iShares has its own suite of sector ETFs - as the funds' sub-advisor. State Street (STT), though, is better-known for its sector offerings. Launching on Thursday - and popular existing State Street SPDR ETFs they'll be competing with:
Fidelity MSCI Consumer Staples Index ETF (FSTA) - XLP.
Fidelity MSCI Consumer Discretionary Index ETF (FDIS) - XLY.