Investment objective & strategy
As of Sept. 24, 2025 · prospectusObjective. Fidelity Disruptive Finance ETF seeks long-term growth of capital.
Strategy. Normally investing at least 80% of assets in securities of disruptive finance companies. Fidelity's disruptive strategies seek to identify innovative developments that could signal new directions for delivering products and services to customers. Generally, these companies have or are developing new or unconventional ways of doing business that could disrupt and displace incumbents over time. This may include creating, providing, or contributing to new or expanded business models, value networks, pricing, and delivery of products and services. Disruptive finance companies are companies that have or are developing innovative ways of doing business that may be disruptive in providing financial services, including banking, insurance, investment management and mortgage services. Companies within the disruptive finance theme include but are not limited to … Normally investing at least 80% of assets in securities of disruptive finance companies. Fidelity's disruptive strategies seek to identify innovative developments that could signal new directions for delivering products and services to customers. Generally, these companies have or are developing new or unconventional ways of doing business that could disrupt and displace incumbents over time. This may include creating, providing, or contributing to new or expanded business models, value networks, pricing, and delivery of products and services. Disruptive finance companies are companies that have or are developing innovative ways of doing business that may be disruptive in providing financial services, including banking, insurance, investment management and mortgage services. Companies within the disruptive finance theme include but are not limited to those companies that, in the Adviser's opinion, are engaged in digital solutions to deliver more cost effective, efficient, and customized financial services such as blockchain enabled financial services, digital payments, data processing, AI-enabled finance and other disruptive lending and insurance business models. In pursuing this investment theme, the fund may invest in companies in any economic sector. Although the fund may invest across economic sectors, the fund concentrates its investments in the finance industries. Fidelity may consider a company to fit within the disruptive theme if it meets one or more of the following criteria: (i) the company has new and/or evolving business models that have the potential to transform an industry or challenge incumbents, (ii) the company is early to market with a product or solution that has the potential to substantially impact the industry, (iii) the company possesses competitive advantages that set it apart from its competitors, (iv) the company issues patents for innovative products or services with high potential impact in the market, or (v) the company's long-term financial outlook is positioned to benefit substantially from innovation and research and development conducted by the company. 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. Normally investing primarily in equity securities. Using fundamental analysis of factors such as each issuer's financial condition and industry position, as well as market and economic conditions, to select investments with quantitative portfolio construction. Investing in either "growth" stocks or "value" stocks or both. Investing in securities of domestic and foreign issuers.
Top holdings
As of Feb. 28, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| BLACKROCK INC | — | $2.53M | 6.17% |
| CAPITAL ONE FINANCIAL CORP | — | $2.34M | 5.72% |
| DBS GROUP HLDGS | — | $2.21M | 5.40% |
| BANKINTER | — | $2.02M | 4.93% |
| FINECOBANK SPA | — | $1.81M | 4.43% |
| MASTERCARD INC CL A | — | $1.81M | 4.42% |
| EQUIFAX INC | — | $1.79M | 4.37% |
| VISA INC-CLASS A | — | $1.76M | 4.30% |
| Fidelity Securities Lending Cash Central Fund | — | $1.70M | 4.17% |
| TOAST INC-A | — | $1.56M | 3.81% |
Portfolio moves
Nov 30, 2025 → Feb 28, 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. |
|---|---|---|
| Select FinTech Portfolio · FSVLX | 30% | 0.75% |
| Amplify Digital Payments ETF | 30% | 0.75% |
| Baron Financials ETF · BCFN | 27% | 0.80% |
Advisers
| Firm | Role |
|---|---|
| FMR Investment Management (UK) Limited | Sub-adviser |
| Fidelity Management & Research (Japan) Limited | Sub-adviser |
| Fidelity Management & Research (Hong Kong) Limited | Sub-adviser |
| Fidelity Management & Research Company LLC | Adviser |
Footnotes
- Expense ratio as of September 24, 2025, from the fund's prospectus.
- Net assets and holdings count as of February 28, 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).
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