Summary prospectus containing this information. Contact Fidelity for a prospectus, or, if available, a Investment objective, risks, charges and expenses. Responsible for any damages or losses arising from any use of this information.īefore investing in any exchange traded product, you should consider its
Neither Morningstar nor its content providers are The Morningstar informationĬontained herein (1) is proprietary to Morningstar or its affiliates (2) may not be copied or redistributed Īnd (3) is not warranted to be accurate, complete, or timely. Geographical diversification are as of the date indicated and may not be representative of the fund's current or Since ETFs areīought and sold at prices set by the market - which can result in a premium or discount to NAV- the returnsĬalculated using market price (market return) can differ from those calculated using NAV (NAV return).īasket holdings, asset allocation, market sectors, industry exposure, and Life of fund figures are reported as of the commencement date to the period indicated. Cumulative total returns are reported as of the period Reinvestment of dividends and capital gains, if any. & Risk" link to view quarter-end performance.Īverage annual total returns are historical and include change in share value and YieldĪnd return will vary, therefore you have a gain or loss when you sell your shares. Current performance may be higher or lower than the performance data quoted. The performance data shown represents past performance, which is no This chart is not intended to imply any future performance of the fund. Gains and dividends, but do not reflect the effect of any applicable sales charges or redemption fees, which * A hypothetical $10,000 investment made in the fund ten years ago, or onĬommencement of operations for funds lacking a ten-year track record. Periods of market disruption or volatility) that market prices will vary significantly from the underlying NAV of the Fund ĮTFs trading on the basis of a published Tracking Basket may trade at a wider bid/ask spread than ETFs that publish their portfolios on a daily basis,Įspecially during periods of market disruption or volatility, and, therefore, may cost investors more to trade,Īnd although the Fund seeks to benefit from keeping its portfolio information secret, market participants may attempt to use the Tracking Basket to identifyĪ Fund's trading strategy, which, if successful, could result in such market participants engaging in certain predatory trading practices that may have the potential to harm the Fund and its shareholders.īecause shares are traded in the secondary market, a broker may charge a commission to execute a transaction in shares,Īnd an investor may incur the cost of the spread between the price at which a dealer will buy shares and the price at which a dealer will sell shares. Will keep the market price of the Fund at or close to the underlying NAV per share of the Fund, there is a risk (which may increase during You can gain access to the Tracking Basket and the Tracking Basket Weight overlap on or i.Īlthough the Tracking Basket is intended to provide investors with enough information to allow for an effective arbitrage mechanism that
The Tracking Basket is designed to conceal any nonpublic information about the underlying portfolio and only uses the Fund's latest publicly disclosed holdings, representative ETFs, and the publicly known daily performance in its construction. The objective of the actively managed ETF Tracking Basket is to construct a portfolio of stocks and representative index ETFs that tracks the daily performance of an actively managed ETF without exposing current holdings, trading activities, or internal equity research. Important Additional Risk Information: Fidelity Active Equity ETFs NAV, and may only be redeemed directly with the fund by Authorized Participants in creation units. Unlike mutual funds, ETF shares are bought and sold at market price, which may be higher or lower than their
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Please contact your investment professional for more information on applicable brokerage fees.
ETFs are subject to management fees as well as other expenses including brokerageĬommissions.
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