Fidelity Investments vs Vanguard
Verdict: Fidelity wins for active users needing robust tools and zero-fee funds while Vanguard remains the gold standard for pure low-cost indexing. Fidelity provides over 3,000 no-transaction-fee funds versus Vanguard's 1,800 per company disclosures. Both maintain expense ratios well below industry averages of 0.5% according to Morningstar 2025 data.
Winner: Fidelity Investments
Fidelity Investments: 8.5/10
Vanguard: 8.2/10
Spec-by-spec comparison
| Fidelity Investments | Vanguard | |
|---|---|---|
| Account Minimum | $0 | $0 |
| Average Expense Ratio | 0.015% | 0.07% |
| No-Transaction-Fee Funds | Over 3,000 | Over 1,800 |
| Mobile App Rating | 4.8/5 | 4.5/5 |
Fidelity Investments
What works
- Zero expense ratio index funds available
- Robust research tools and zero-commission trading
- Strong retirement account options including 401(k) rollover support
What doesn't
- Slightly higher fees on some actively managed funds
- Customer service wait times can exceed 15 minutes during peak hours
Vanguard
What works
- Industry-leading low-cost index funds and ETFs
- Strong emphasis on long-term buy-and-hold strategies
- Excellent customer education resources and transparent fee structure
What doesn't
- Fewer advanced trading tools compared to competitors
- Limited selection of no-transaction-fee mutual funds
Bottom line
Our pick: Fidelity Investments. It edges out the alternative on zero expense ratio index funds available. That said, Vanguard still wins on industry-leading low-cost index funds and etfs — consider it if that single trade matters most for your use.
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