Wall Street was in for a mixed bag of earnings this week, with several bellwethers reporting third quarter results. 3M (MMM) and Ford Motor Company (F) topped analyst earnings and revenue expectations, while telecom giant AT&T (T) also beat earnings estimates, though revenues fell in line with expectations. Caterpillar (CAT)–one of the biggest manufacturers of construction and mining equipment–posted lower-than-expected quarterly results and cut its full year forecast .

On the ETF front, investors were introduced to 10 new exchange traded products:

Fidelity, the issuer of the Nasdaq Composite Index Tracking Stock Market ETF , is taking steps to become a bigger presence in the ETF space. On Thursday, the Boston-based firm launched 10 U.S. sector ETFs:

  • MSCI Consumer Discretionary Index ETF
  • MSCI Consumer Staples Index ETF
  • MSCI Energy Index ETF
  • MSCI Financials Index ETF
  • MSCI Health Care Index ETF
  • MSCI Industrials Index ETF
  • MSCI Information Technology Index ETF
  • MSCI Materials Index ETF
  • MSCI Telecommunications Services Index ETF
  • MSCI Utilities Index ETF

Each fund charges 0.12% and can be traded commission free by investors with a Fidelity brokerage account.

The funds face some steep competition from industry veterans like State Street, whose lineup of sector-specific SPDR funds are some of the most popular ETFs on the market today. Fidelity’s new funds, however, charge slightly less than the Sector SPDRs, which charge 18 basis points and are not available commission free on any trading platform .

Fidelity’s sector ETFs will go head-to-head with these State Street favorites:

  • Consumer Discretionary Select Sector SPDR ETF
  • Consumer Staples Select Sector SPDR ETF
  • Energy Select Sector SPDR ETF
  • Financials Select Sector SPDR ETF
  • Health Care Select Sector SPDR ETF
  • Industrial Select Sector SPDR ETF
  • Technology Select Sector SPDR ETF
  • Materials Select Sector SPDR ETF
  • SPDR S&P Telecom ETF
  • Utilities Select Sector SPDR ETF

Follow me on Twitter @DPylypczak.

Disclosure: No positions at time of writing.

Related Articles
  1. Investing

    The ABCs of Bond ETF Distributions

    How do bond exchange traded fund (ETF) distributions work? It’s a question I get a lot. First, let’s explain what we mean by distributions.
  2. Investing Basics

    Top Tips for Diversifying with Exotic Currencies

    Is there an opportunity in exotic currencies right now, or are you safer sticking to the major ones?
  3. Mutual Funds & ETFs

    The 3 Biggest Mutual Fund Companies in the US

    Compare and contrast the rise of America's big three institutional asset managers: BlackRock Funds, The Vanguard Group and State Street Global Advisors.
  4. Professionals

    5 Top-Rated Funds for Your Retirement Portfolio

    Mutual funds are a good choice for emotional investors. Here are five popular funds to consider.
  5. Stock Analysis

    The 6 Biggest Russian Energy Companies

    Learn about the top energy companies in Russia, a country that holds some of the largest reserves of oil, natural gas and coal in the world.
  6. Mutual Funds & ETFs

    The 4 Best Buy-and-Hold ETFs

    Explore detailed analyses of the top buy-and-hold exchange traded funds, and learn about their characteristics, statistics and suitability.
  7. Chart Advisor

    Bumpy Roads Ahead In Transportation

    Investors are keeping an eye on the transportation industry. We'll take a look at the trend direction and how to trade it.
  8. Investing

    How ETFs May Save You Thousands

    Being vigilant about the amount you pay and what you get for is important, but adding ETFs into the investment mix fits well with a value-seeking nature.
  9. Mutual Funds & ETFs

    3 Fixed Income ETFs in the Mining Sector

    Learn about the top three metals and mining exchange-traded funds (ETFs), and explore analyses of their characteristics and how investors can benefit from these ETFs.
  10. Chart Advisor

    Agriculture Commodities Are In The Bear's Sights

    Agriculture stocks have experienced strong moves higher over recent weeks, but chart patterns on sugar, corn and wheat are suggesting the moves could be short lived.
  1. Can mutual funds invest in IPOs?

    Mutual funds can invest in initial public offerings (IPOS). However, most mutual funds have bylaws that prevent them from ... Read Full Answer >>
  2. Does index trading increase market vulnerability?

    The rise of index trading may increase the overall vulnerability of the stock market due to increased correlations between ... Read Full Answer >>
  3. What does a high turnover ratio signify for an investment fund?

    If an investment fund has a high turnover ratio, it indicates it replaces most or all of its holdings over a one-year period. ... Read Full Answer >>
  4. What is the difference between passive and active asset management?

    Asset management utilizes two main investment strategies that can be used to generate returns: active asset management and ... Read Full Answer >>
  5. Is there a situation in which wash trading is legal?

    Wash trading, the intentional practice of manipulating a stock's activity level to deceive other investors, is not a legal ... Read Full Answer >>
  6. Are there leveraged ETFs that follow the retail sector?

    There are many exchange-traded funds (ETFs) that track the retail sector or elements of the retail sector, and some of those ... Read Full Answer >>

You May Also Like

Trading Center
You are using adblocking software

Want access to all of Investopedia? Add us to your “whitelist”
so you'll never miss a feature!