Morningstar

Fidelity's letter to the Labor Department says the proposal isn't “well grounded or supported by much of the emerging data.”

More than half of these funds have fees higher than 75 basis points.

Fees for the category's best performing mutual funds and ETFs are much like the price of bullion: expensive.

If clients “looked just three months ago, these numbers would be glaringly different,” an expert says.

The firm’s growth plans come as the industry experiences a new wave of consolidation among custodians and fintechs.

The 20 top-performers have generated gains well over 50% in the first seven months of the year.

Despite besting the broader market over the long-term, those at the top have underperformed in the first half of 2020.

The current proposal “would lead to worse outcomes for plan participants as plan sponsors shied away from assessing ESG risks in selecting investments,” the research firm says.

“No one could have envisioned what this virus was going to do to the commercial real estate space,” an expert says.

Investors may be put off by the costs associated with these funds, which had an average expense ratio of more than triple their peers.