Launched on 10/21/2013, the Fidelity MSCI Information Technology Index ETF (FTEC) is a passively managed exchange traded fund designed to provide a broad exposure to the Technology – Broad segment of the equity market.
An increasingly popular option among retail and institutional investors, passively managed ETFs offer low costs, transparency, flexibility, and tax efficiency; they are also excellent vehicles for long term investors.
Sector ETFs are also funds of convenience, offering many ways to gain low risk and diversified exposure to a broad group of companies in particular sectors. Technology – Broad is one of the 16 broad Zacks sectors within the Zacks Industry classification. It is currently ranked 6, placing it in top 38%.
The fund is sponsored by Fidelity. It has amassed assets over $5.31 billion, making it one of the largest ETFs attempting to match the performance of the Technology – Broad segment of
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