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Matt Levine discussed this in "Money Stuff" yesterday (sorry, can't find a link). My understanding is that there are two reasons: 1) The bank still makes some
by bradleybuda 8y ago
Matt Levine discussed this in "Money Stuff" yesterday (sorry, can't find a link). My understanding is that there are two reasons:
1) The bank still makes some money charging a fee to lend the shares in the ETF to short sellers.
2) Fidelity sees this as a loss leader for higher-priced funds and traditional investment advice / wealth management.