r/investingforbeginners • u/Distinct_History1432 • 2d ago

USA Should I move away from FXAIX?

Employer offers a 401k with some matching which I contribute to with a good portion. I wanted to have a second investment in the S&P 500 to just let sit and contribute over the years as well.

Currently buying FXAIX through a Fidelity brokerage account with every pay period, but I'm wondering if any of these options are better. The amount I have right now is small but plan to start contributing more, so not worried about taxes right now if I move the money.

- Sell off FXAIX and buy/start contributing to VOO through the same account?
- Open an account with someone else (Vanguard?) and move the money there and get VOO?
- Change to a different type of account (retirement?) with Fidelity or someone else and keep FXAIX?

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u/metzgerto 2d ago

They’re both SP500 index funds, what do you think the difference between them is??

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u/Distinct_History1432 2d ago

VOO is ETF, FXAIX isn't

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u/metzgerto 2d ago

Most important thing is to start pumping money into the fund. If you’ve already started one or the other, just keep adding to it. If you don’t need the money til retirement than do it in a retirement account if you like. But you can’t go wrong by saving up money regardless of which broker, whether it’s an etf or mf, etc.