Fidelity is largely an active management shop but its expansion into smart beta ETFs may slowly begin changing that perception. Earlier this month, it launched six different smart beta funds. Four of those ETFs cover strategies that have become well covered in the industry - Fidelity Low Volatility Factor ETF (NYSEARCA:FDLO), Fidelity Momentum Factor ETF (NYSEARCA:FDMO), Fidelity Quality Factor ETF (NYSEARCA:FQAL) and Fidelity Value Factor ETF (NYSEARCA:FVAL). The fifth fund, the Fidelity Dividend ETF for Rising Rates (NYSEARCA:FDRR), is the most unique option of the six but has some competition in the dividend fund arena (Brad Kenagy profiles the fund here).
The sixth fund, the Fidelity Core Dividend ETF (NYSEARCA:FDVV), faces some stiff competition. A number of funds in the core dividend category carry four- and five-star ratings from Morningstar and already account for tens of