FBCG tops $7 billion as investors pay up for stock-picking

FBCG, the Fidelity Blue Chip Growth ETF, has taken in $1 billion in net new money so far in 2026, according to Todd Rosenbluth, head of research at VettaFi. He puts the fund's assets at $7 billion. Rosenbluth discussed the fund on Chuck Jaffe's 'ETF of the Week' podcast, tying the inflows to earnings season pulling the former Mag Seven apart. The mega-cap growth names that once traded as a bloc now move separately, and that shift, he said, is pushing investors toward active managers who can sort winners from losers.

The fund is six or seven years old, built on Fidelity's long-running blue-chip growth strategy. It is not the Fidelity Blue Chip Fund, ticker FBGRX, in ETF form. Jaffe was exact on that point: the two hold different portfolios. The mutual fund's history gives FBCG a track record that most active ETFs cannot offer at launch.

Rosenbluth's description of the portfolio shows how much the label has changed. Blue chip once meant large, established American businesses with big balance sheets. In FBCG, it means a roster of mega-cap growth stocks, with an active manager deciding which qualify. The $1 billion inflow is payment for that discretion, arriving just as the former market leaders diverge. If the trade tightens back into lockstep, the fee for active management becomes harder to justify. Until then, investors are showing they will fund someone making the call.

The podcast's focus on FBCG, along with the inflow, makes the case for active growth ETFs. When the market's biggest names diverge, an index holds the whole group; an active manager can drop the laggards. FBCG's year suggests some investors will pay for that.