Confused about transaction types for Index Funds

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ChristopherRobin
Posts: 25
Joined: Wed Aug 08, 2018 3:58 pm

Confused about transaction types for Index Funds

Post by ChristopherRobin »

I own both FSKAX and FTIHX, but when I go to buy shares I am asked if I want to buy stocks/ETF, mutual funds, options, fixed income, trade armor, conditional, baskets.

I always read "invest in index funds!" but I rarely see someone clarify which of these transaction types I am supposed to pick.

Please help me understand what this means.
000
Posts: 4768
Joined: Thu Jul 23, 2020 12:04 am

Re: Confused about transaction types for Index Funds

Post by 000 »

I think you want to pick "mutual funds".
Doctor Rhythm
Posts: 781
Joined: Mon Jan 22, 2018 3:55 am

Re: Confused about transaction types for Index Funds

Post by Doctor Rhythm »

ChristopherRobin wrote: Tue Apr 06, 2021 10:28 pm I own both FSKAX and FTIHX, but when I go to buy shares I am asked if I want to buy stocks/ETF, mutual funds, options, fixed income, trade armor, conditional, baskets.

I always read "invest in index funds!" but I rarely see someone clarify which of these transaction types I am supposed to pick.

Please help me understand what this means.
FSKAX and FTIHX are mutual funds (not ETFs or stocks or any of the other choices you list). Those two funds are among the small subset of mutual funds that track a market index, and are therefore also called index funds.

I just purchased shares of both of these funds this week from Fidelity’s mobile app. Select BUY, select “mutual fund”, and you should be given the option to select a fund that you already own. Everything else should be self explanatory.
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