Investment objective & strategy
As of Oct. 27, 2025 · prospectusObjective. Fidelity Enhanced Large Cap Growth ETF seeks capital appreciation.
Strategy. Normally investing at least 80% of assets in common stocks included in the Russell 1000 Growth Index. The Russell 1000 Growth Index is a market capitalization-weighted index designed to measure the performance of the large-cap growth segment of the U.S. equity market. Effective March 24, 2025, the Russell 1000 Growth Index applies a capping methodology. Index constituents are capped quarterly so that no more than 22.5% of the index weight may be allocated to a single constituent, and the sum of the weights of all constituents representing more than 4.5% of the index should not exceed 45% of the total index weight. For periods prior to March 24, 2025, the index was uncapped. Effective December 11, 2025, derivative instruments that … Normally investing at least 80% of assets in common stocks included in the Russell 1000 Growth Index. The Russell 1000 Growth Index is a market capitalization-weighted index designed to measure the performance of the large-cap growth segment of the U.S. equity market. Effective March 24, 2025, the Russell 1000 Growth Index applies a capping methodology. Index constituents are capped quarterly so that no more than 22.5% of the index weight may be allocated to a single constituent, and the sum of the weights of all constituents representing more than 4.5% of the index should not exceed 45% of the total index weight. For periods prior to March 24, 2025, the index was uncapped. 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. Generally utilizing a research-driven approach identifying long-term drivers of stock returns that may include, but are not limited to, valuation, growth, quality, and other factors. The research is systematically applied alongside a proprietary portfolio construction and risk management framework to select a broadly diversified group of stocks that may have the potential to provide a higher total return than that of the Russell 1000 Growth Index.
Top holdings
As of March 31, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| NVIDIA CORP | — | $621.51M | 13.29% |
| APPLE INC | — | $562.59M | 12.03% |
| MICROSOFT CORP | — | $382.91M | 8.19% |
| BROADCOM INC | — | $244.59M | 5.23% |
| AMAZON.COM INC | — | $197.34M | 4.22% |
| META PLATFORMS INC CL A | — | $183.98M | 3.93% |
| TESLA INC | — | $179.24M | 3.83% |
| ALPHABET INC CL A | — | $168.63M | 3.61% |
| ALPHABET INC CL C | — | $150.67M | 3.22% |
| LILLY ELI and CO | — | $136.22M | 2.91% |
Portfolio moves
Dec 31, 2025 → Mar 31, 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. |
|---|---|---|
| iShares Russell Top 200 Growth ETF · IWY | 76% | 0.20% |
| VOYA RUSSELLTM LARGE CAP GROWTH INDEX PORTFOLIO · IRLAX, IRLNX, IRLSX | 76% | 0.43% |
| EQ/Large Cap Growth Index Portfolio | 75% | 0.47% |
Advisers
| Firm | Role |
|---|---|
| Fidelity Management & Research Company LLC | Adviser |
Footnotes
- Expense ratio as of October 27, 2025, from the fund's prospectus.
- Net assets and holdings count as of March 31, 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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