Securities lending came up so I looked up several reports and found there is quite a spread in the practice. Fidelity's numbers are the worst. In the case of FSEVX the lending is pegged right again the fund's stated limit of 20%. And the free iShares ETFs they offer, guess what, second worst.
Does anyone remember what these numbers looked like before 2008?
Is there another risk metric I'm not thinking of in which the other brokerages would appear worse and wash this difference out?
Fidelity's small-cap and extended market indexes are also struggling to track indexes lately, despite tracking ok during the crisis itself. Vanguard and iShares do not seem to have this problem.
The table shows securities loaned as percentage of total investment in securities, using the most recent annual or semi-annual report.
Brokerage
TSM
%
small-cap
%
ext. market
%
Vanguard
VTI
0.3%
VB
1.6%
Schwab
SWTSX
0.7%
SWSSX
6.0%
iShares
ITOT
1.6%
IJR
10.0%
Fidelity
FSTMX
6.1%
FSSVX
15.7%
FSEMX
19.8%
