Fidelity Investments

If reached, the deal would precede a potential IPO of the $52 billion firm, which oversees asset allocations of domestic and offshore pension funds.

The firm says it will focus the new funds on tech, demographics, urbanization, climate change and emerging global wealth.

The firm expects shareholders will save an estimated $3.2 million, annually.

With the reductions, nearly all of the firm’s index funds will have total net expenses lower than comparable Vanguard products.

The ETFs that bested the strategy “offer exposure to extremely narrow and volatile segments of the market,” an expert says.

With double-digit annualized returns produced by nearly all of these funds, the ranking illustrates the broader trend toward passive investing.

The actively managed vehicle will invest in about 100 companies.

These double-digit returns came at a price lower than the rest of the sector.

Respondents say they’re concerned about volatility, regulatory uncertainty and a lack of fundamentals to use in determining the right price for bitcoin.

The switch is the latest in a series of billion-dollar moves so far this year.