Investment objective & strategy
As of Aug. 28, 2025 · prospectusObjective. Fidelity Yield Enhanced Equity ETF seeks current income while maintaining prospects for capital appreciation.
Strategy. Normally investing at least 80% of assets in equity securities. Equity securities represent an ownership interest, or the right to acquire an ownership interest, in an issuer. Equity securities include common stocks (including depositary receipts evidencing ownership of common stock), preferred stocks and other preferred securities, convertible securities, rights and warrants, and other securities, such as hybrid securities and trust preferred securities, believed to have equity-like characteristics. 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. Investing in equity securities of … Normally investing at least 80% of assets in equity securities. Equity securities represent an ownership interest, or the right to acquire an ownership interest, in an issuer. Equity securities include common stocks (including depositary receipts evidencing ownership of common stock), preferred stocks and other preferred securities, convertible securities, rights and warrants, and other securities, such as hybrid securities and trust preferred securities, believed to have equity-like characteristics. 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. Investing in equity securities of companies with market capitalizations generally similar to companies in the S&P 500 Index or Russell 1000 Index.Generally using computer-aided, quantitative analysis of historical valuation, growth, profitability, and other factors to select a broadly diversified group of stocks that may have the potential to provide a higher total return than that of the S&P 500Index.Selling (writing) call options on a large cap equity index, such as the S&P 500 Index.Employing a disciplined options-based strategy designed to provide income.Investing in domestic and foreign issuers.Lending securities to earn income for the fund.
Top holdings
As of Jan. 31, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| NVIDIA CORP | — | $11.28M | 7.91% |
| APPLE INC | — | $9.50M | 6.66% |
| MICROSOFT CORP | — | $7.28M | 5.11% |
| AMAZON.COM INC | — | $6.18M | 4.33% |
| Fidelity Cash Central Fund | — | $4.91M | 3.44% |
| BROADCOM INC | — | $4.30M | 3.02% |
| META PLATFORMS INC CL A | — | $4.08M | 2.87% |
| ALPHABET INC CL A | — | $3.90M | 2.73% |
| ALPHABET INC CL C | — | $3.39M | 2.38% |
| BERKSHIRE HATH-B | — | $2.74M | 1.92% |
Portfolio moves
Oct 31, 2025 → Jan 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. |
|---|---|---|
| Fidelity Dynamic Buffered Equity ETF · FBUF | 94% | 0.48% |
| Fidelity Hedged Equity ETF · FHEQ | 92% | 0.48% |
| Fidelity Enhanced Large Cap Core ETF · FELC | 81% | 0.18% |
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 Diversifying Solutions LLC | Adviser |
Footnotes
- Expense ratio as of August 28, 2025, from the fund's prospectus.
- Net assets and holdings count as of January 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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