Advisers said they are worried the redemption fee will hit hardest investors with less money.

WSJ: Fidelity's ETF Fee Spurs a Backlash

Rowe Price Latin America ( PRLAX) , despite the 2% redemption fee for holding it less than a year.

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If your unrealized capital losses are in no-load mutual funds, the first and third points would not apply (unless you are subject to a redemption fee).

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When a ReapSo user visits an establishment and redeems a reward using their phone, ReapSo records it and the business is charged a redemption fee.

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Michael Durbin, president of Fidelity Institutional Wealth Services, which works with registered investment advisers, said the redemption fee is "prudent, " adding that the vast majority of investment advisers don't sell ETFs within 60 days.

WSJ: Fidelity's ETF Fee Spurs a Backlash