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Fidelity Investments announced the expansion of its fixed income lineup with the launch of its first municipal bond exchange-traded funds. The Fidelity Municipal Bond Opportunities ETF (FMUB ...

The brokerage firms have long blocked rival money-market funds, but this year started blocking money-market ETFs as well.

Yet, the move stands out because trading platforms like Schwab and Fidelity typically don’t restrict exchange-traded funds, even if those funds are in competition with existing in-house offerings.