Investment objective & strategy
As of Nov. 24, 2025 · prospectusObjective. Fidelity MSCI Communication Services Index ETF seeks to provide investment returns that correspond, before fees and expenses, generally to the performance of the MSCI USA IMI Communication Services 25/50 Index.
Strategy. Investing at least 80% of assets in securities included in the MSCI USA IMI Communication Services 25/50 Index. The MSCI USA IMI Communication Services 25/50 Index represents the performance of the communication services sector in the U.S. equity market. The index consists of U.S. companies that are classified in the communication services sector according to the Global Industry Classification Standard (GICS ). The GICS communication services sector contains companies that provide interactive media and services including search engines, social media and networking platforms; companies that produce and sell entertainment and media such as movies, TV, cable, radio, internet and satellite companies; interactive gaming and home entertainment products and services; advertising; publishing and public relations companies; operators of fixed-line telecommunications networks … Investing at least 80% of assets in securities included in the MSCI USA IMI Communication Services 25/50 Index. The MSCI USA IMI Communication Services 25/50 Index represents the performance of the communication services sector in the U.S. equity market. The index consists of U.S. companies that are classified in the communication services sector according to the Global Industry Classification Standard (GICS ). The GICS communication services sector contains companies that provide interactive media and services including search engines, social media and networking platforms; companies that produce and sell entertainment and media such as movies, TV, cable, radio, internet and satellite companies; interactive gaming and home entertainment products and services; advertising; publishing and public relations companies; operators of fixed-line telecommunications networks and companies; providers of cellular or wireless communications services and equipment; and providers of communications and high-density data transmission services and equipment. Effective December 11, 2025, derivative instruments that provide investment exposure to the investments above or exposure to one or more market risk factors associated with such investments are included in the fund's 80% policy, consistent with the fund's investment policies and limitations with respect to investments in derivatives. Using a representative sampling indexing strategy to manage the fund. "Representative sampling" is an indexing strategy that involves investing in a representative sample of securities that collectively has an investment profile similar to the index. The securities selected are expected to have, in the aggregate, investment characteristics (based on factors such as market capitalization and industry weightings), fundamental characteristics (such as return variability and yield) and liquidity measures similar to those of the index. The fund may or may not hold all of the securities in the MSCI USA IMI Communication Services 25/50 Index.
Top holdings
As of April 30, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| META PLATFORMS INC CL A | — | $359.33M | 20.39% |
| ALPHABET INC CL A | — | $287.12M | 16.29% |
| ALPHABET INC CL C | — | $189.26M | 10.74% |
| NETFLIX INC | — | $91.28M | 5.18% |
| VERIZON COMMUNICATIONS INC | — | $73.70M | 4.18% |
| WALT DISNEY CO/T | — | $72.55M | 4.12% |
| AT&T INC | — | $68.41M | 3.88% |
| WARNER BROS DISCOVERY INC | — | $49.77M | 2.82% |
| COMCAST CORP CL A | — | $47.37M | 2.69% |
| T-MOBILE US INC | — | $47.30M | 2.68% |
Portfolio moves
Jan 31, 2026 → Apr 30, 2026How many positions this fund opened, exited, grew, trimmed, or left unchanged between its two most recent N-PORT snapshots — net changes between point-in-time reports, not a trade log.
Similar funds
Funds whose portfolios most overlap this one, by weight| Fund | Overlap | Net exp. |
|---|---|---|
| VANGUARD COMMUNICATION SERVICES INDEX FUND · VTCAX, VOX | 92% | 0.09% |
| State Street(R) Communication Services Select Sector SPDR(R) ETF · XLC | 75% | 0.08% |
| JNL/Mellon Communication Services Sector Fund | 73% | 0.30% |
Advisers
| Firm | Role |
|---|---|
| BlackRock Fund Advisors | Sub-adviser |
| Fidelity Management & Research Company LLC | Adviser |
Footnotes
- Expense ratio as of November 24, 2025, from the fund's prospectus.
- Net assets and holdings count as of April 30, 2026, from the fund's N-PORT filing.
- Total return for calendar year 2025, before tax and after fund expenses. Computed by compounding the twelve monthly total returns the fund reported in its SEC N-PORT filings for 2025 (the latest prospectus does not yet chart this year).
Machine-readable: JSON · Markdown. Programmatic access via the agent surface.