Note to Shareholders | 3 | |
Investment Summary | 4 | |
Schedule of Investments | 15 | |
Financial Statements | 64 | |
Notes to Financial Statements | 87 | |
Shareholder Expense Example | 92 |
Semi-Annual Report | 2 |
3 | Semi-Annual Report |
11 | Semi-Annual Report |
15 | Semi-Annual Report |
Semi-Annual Report | 16 |
Futures Contracts | |||||
Number
of contracts |
Expiration
Date |
Notional
Amount |
Value | Unrealized
Appreciation/ (Depreciation) | |
Purchased | |||||
Equity Index Contract | |||||
CME E-mini S&P Communication Services Select Sector Index Contracts (United States) | 11 | March 2022 | $1,062,600 | $(35,355) | $(35,355) |
Description | Total | Level 1 | Level 2 | Level 3 | |||||
Investments in Securities: | |||||||||
Common Stocks | $ 787,544,498 | $ 787,544,498 | $ — | $ — | |||||
Money Market Funds | 1,088,000 | 1,088,000 | — | — | |||||
Total Investments in Securities: | $ 788,632,498 | $ 788,632,498 | $ — | $ — | |||||
Derivative Instruments: | |||||||||
Liabilities | |||||||||
Futures Contracts | $ (35,355) | $ (35,355) | $ — | $ — | |||||
Total Liabilities | $ (35,355) | $ (35,355) | $ — | $ — | |||||
Total Derivative Instruments: | $ (35,355) | $ (35,355) | $ — | $ — |
Primary Risk/ Derivative Type | Value | ||
Asset | Liabilities | ||
Equity Risk | |||
Futures Contracts(a) | $0 | $(35,355) | |
Total Equity Risk | 0 | (35,355) | |
Total Value of Derivatives | $0 | $(35,355) |
(a) | Reflects gross cumulative appreciation (depreciation) on futures contracts as presented in the Schedule of Investments. In the Statement of Assets and Liabilities, the period end daily variation margin is included in receivable or payable for daily variation margin on futures contracts, and the net cumulative appreciation (depreciation) is included in total accumulated earnings (loss). |
17 | Semi-Annual Report |
Semi-Annual Report | 18 |
19 | Semi-Annual Report |
Semi-Annual Report | 20 |
21 | Semi-Annual Report |
Futures Contracts | |||||
Number
of contracts |
Expiration
Date |
Notional
Amount |
Value | Unrealized
Appreciation/ (Depreciation) | |
Purchased | |||||
Equity Index Contracts | |||||
CME E-mini Russell 2000 Index Contracts (United States) | 4 | March 2022 | $ 404,880 | $ (22,414) | $ (22,414) |
CME E-mini S&P Consumer Discretionary Select Sector Index Contracts (United States) | 10 | March 2022 | 1,866,400 | (114,692) | (114,692) |
Total Equity Index Contracts | $ (137,106) |
Semi-Annual Report | 22 |
Description | Total | Level 1 | Level 2 | Level 3 | |||||
Investments in Securities: | |||||||||
Common Stocks | $ 1,571,642,640 | $ 1,571,642,640 | $ — | $ — | |||||
Money Market Funds | 1,810,000 | 1,810,000 | — | — | |||||
Total Investments in Securities: | $ 1,573,452,640 | $ 1,573,452,640 | $ — | $ — | |||||
Derivative Instruments: | |||||||||
Liabilities | |||||||||
Futures Contracts | $ (137,106) | $ (137,106) | $ — | $ — | |||||
Total Liabilities | $ (137,106) | $ (137,106) | $ — | $ — | |||||
Total Derivative Instruments: | $ (137,106) | $ (137,106) | $ — | $ — |
Primary Risk/ Derivative Type | Value | ||
Asset | Liabilities | ||
Equity Risk | |||
Futures Contracts(a) | $0 | $(137,106) | |
Total Equity Risk | 0 | (137,106) | |
Total Value of Derivatives | $0 | $(137,106) |
(a) | Reflects gross cumulative appreciation (depreciation) on futures contracts as presented in the Schedule of Investments. In the Statement of Assets and Liabilities, the period end daily variation margin is included in receivable or payable for daily variation margin on futures contracts, and the net cumulative appreciation (depreciation) is included in total accumulated earnings (loss). |
23 | Semi-Annual Report |
Semi-Annual Report | 24 |
Futures Contracts | |||||
Number
of contracts |
Expiration
Date |
Notional
Amount |
Value | Unrealized
Appreciation/ (Depreciation) | |
Purchased | |||||
Equity Index Contracts | |||||
CME E-mini Russell 2000 Index Contracts (United States) | 1 | March 2022 | $ 101,220 | $ (3,412) | $ (3,412) |
CME E-mini S&P Consumer Staples Select Sector Index Contracts (United States) | 35 | March 2022 | 2,673,300 | (1,305) | (1,305) |
Total Equity Index Contracts | $ (4,717) |
25 | Semi-Annual Report |
Description | Total | Level 1 | Level 2 | Level 3 | |||||
Investments in Securities: | |||||||||
Common Stocks | $ 961,755,089 | $ 961,755,089 | $ — | $ — | |||||
Money Market Funds | 1,650,000 | 1,650,000 | — | — | |||||
Total Investments in Securities: | $ 963,405,089 | $ 963,405,089 | $ — | $ — | |||||
Derivative Instruments: | |||||||||
Liabilities | |||||||||
Futures Contracts | $ (4,717) | $ (4,717) | $ — | $ — | |||||
Total Liabilities | $ (4,717) | $ (4,717) | $ — | $ — | |||||
Total Derivative Instruments: | $ (4,717) | $ (4,717) | $ — | $ — |
Primary Risk/ Derivative Type | Value | ||
Asset | Liabilities | ||
Equity Risk | |||
Futures Contracts(a) | $0 | $(4,717) | |
Total Equity Risk | 0 | (4,717) | |
Total Value of Derivatives | $0 | $(4,717) |
(a) | Reflects gross cumulative appreciation (depreciation) on futures contracts as presented in the Schedule of Investments. In the Statement of Assets and Liabilities, the period end daily variation margin is included in receivable or payable for daily variation margin on futures contracts, and the net cumulative appreciation (depreciation) is included in total accumulated earnings (loss). |
Semi-Annual Report | 26 |
27 | Semi-Annual Report |
Futures Contracts | |||||
Number
of contracts |
Expiration
Date |
Notional
Amount |
Value | Unrealized
Appreciation/ (Depreciation) | |
Purchased | |||||
Equity Index Contract | |||||
CME E-mini S&P Energy Select Sector Index Contracts (United States) | 42 | March 2022 | $2,883,300 | $253,753 | $253,753 |
Semi-Annual Report | 28 |
Description | Total | Level 1 | Level 2 | Level 3 | |||||
Investments in Securities: | |||||||||
Common Stocks | $ 1,227,183,870 | $ 1,227,183,870 | $ — | $ — | |||||
Money Market Funds | 1,920,000 | 1,920,000 | — | — | |||||
Total Investments in Securities: | $ 1,229,103,870 | $ 1,229,103,870 | $ — | $ — | |||||
Derivative Instruments: | |||||||||
Assets | |||||||||
Futures Contracts | $ 253,753 | $ 253,753 | $ — | $ — | |||||
Total Assets | $ 253,753 | $ 253,753 | $ — | $ — | |||||
Total Derivative Instruments: | $ 253,753 | $ 253,753 | $ — | $ — |
Primary Risk/ Derivative Type | Value | ||
Asset | Liabilities | ||
Equity Risk | |||
Futures Contracts(a) | $253,753 | $0 | |
Total Equity Risk | 253,753 | 0 | |
Total Value of Derivatives | $253,753 | $0 |
(a) | Reflects gross cumulative appreciation (depreciation) on futures contracts as presented in the Schedule of Investments. In the Statement of Assets and Liabilities, the period end daily variation margin is included in receivable or payable for daily variation margin on futures contracts, and the net cumulative appreciation (depreciation) is included in total accumulated earnings (loss). |
29 | Semi-Annual Report |
Semi-Annual Report | 30 |
31 | Semi-Annual Report |
Semi-Annual Report | 32 |
33 | Semi-Annual Report |
Semi-Annual Report | 34 |
Futures Contracts | |||||
Number
of contracts |
Expiration
Date |
Notional
Amount |
Value | Unrealized
Appreciation/ (Depreciation) | |
Purchased | |||||
Equity Index Contracts | |||||
CME E-mini Russell 2000 Index Contracts (United States) | 6 | March 2022 | $ 607,320 | $ (52,794) | $ (52,794) |
CME E-mini S&P Financial Select Sector Index Contracts (United States) | 41 | March 2022 | 4,923,588 | (74,431) | (74,431) |
Total Equity Index Contracts | $ (127,225) |
Description | Total | Level 1 | Level 2 | Level 3 | |||||
Investments in Securities: | |||||||||
Common Stocks | $ 1,927,035,645 | $ 1,927,035,645 | $ — | $ — | |||||
Money Market Funds | 4,259,001 | 4,259,001 | — | — | |||||
Total Investments in Securities: | $ 1,931,294,646 | $ 1,931,294,646 | $ — | $ — | |||||
Derivative Instruments: | |||||||||
Liabilities | |||||||||
Futures Contracts | $ (127,225) | $ (127,225) | $ — | $ — | |||||
Total Liabilities | $ (127,225) | $ (127,225) | $ — | $ — | |||||
Total Derivative Instruments: | $ (127,225) | $ (127,225) | $ — | $ — |
Primary Risk/ Derivative Type | Value | ||
Asset | Liabilities | ||
Equity Risk | |||
Futures Contracts(a) | $0 | $(127,225) | |
Total Equity Risk | 0 | (127,225) | |
Total Value of Derivatives | $0 | $(127,225) |
(a) | Reflects gross cumulative appreciation (depreciation) on futures contracts as presented in the Schedule of Investments. In the Statement of Assets and Liabilities, the period end daily variation margin is included in receivable or payable for daily variation margin on futures contracts, and the net cumulative appreciation (depreciation) is included in total accumulated earnings (loss). |
35 | Semi-Annual Report |
Semi-Annual Report | 36 |
37 | Semi-Annual Report |
Semi-Annual Report | 38 |
39 | Semi-Annual Report |
Semi-Annual Report | 40 |
Futures Contracts | |||||
Number
of contracts |
Expiration
Date |
Notional
Amount |
Value | Unrealized
Appreciation/ (Depreciation) | |
Purchased | |||||
Equity Index Contracts | |||||
CME E-mini Russell 2000 Index Contracts (United States) | 7 | March 2022 | $ 708,540 | $ (66,892) | $ (66,892) |
CME E-mini S&P Health Care Select Sector Index Contracts (United States) | 53 | March 2022 | 7,018,790 | (264,156) | (264,156) |
Total Equity Index Contracts | $ (331,048) |
41 | Semi-Annual Report |
Description | Total | Level 1 | Level 2 | Level 3 | |||||
Investments in Securities: | |||||||||
Common Stocks | $ 2,786,291,891 | $ 2,786,272,050 | $ — | $ 19,841 | |||||
Money Market Funds | 3,894,000 | 3,894,000 | — | — | |||||
Total Investments in Securities: | $ 2,790,185,891 | $ 2,790,166,050 | $ — | $ 19,841 | |||||
Derivative Instruments: | |||||||||
Liabilities | |||||||||
Futures Contracts | $ (331,048) | $ (331,048) | $ — | $ — | |||||
Total Liabilities | $ (331,048) | $ (331,048) | $ — | $ — | |||||
Total Derivative Instruments: | $ (331,048) | $ (331,048) | $ — | $ — |
Primary Risk/ Derivative Type | Value | ||
Asset | Liabilities | ||
Equity Risk | |||
Futures Contracts(a) | $0 | $(331,048) | |
Total Equity Risk | 0 | (331,048) | |
Total Value of Derivatives | $0 | $(331,048) |
(a) | Reflects gross cumulative appreciation (depreciation) on futures contracts as presented in the Schedule of Investments. In the Statement of Assets and Liabilities, the period end daily variation margin is included in receivable or payable for daily variation margin on futures contracts, and the net cumulative appreciation (depreciation) is included in total accumulated earnings (loss). |
Semi-Annual Report | 42 |
43 | Semi-Annual Report |
Semi-Annual Report | 44 |
45 | Semi-Annual Report |
Semi-Annual Report | 46 |
Futures Contracts | |||||
Number
of contracts |
Expiration
Date |
Notional
Amount |
Value | Unrealized
Appreciation/ (Depreciation) | |
Purchased | |||||
Equity Index Contracts | |||||
CME E-mini Russell 2000 Index Contracts (United States) | 3 | March 2022 | $ 303,660 | $ (22,592) | $ (22,592) |
CME E-mini S&P Industrial Select Sector Index Contracts (United States) | 16 | March 2022 | 1,620,480 | (64,053) | (64,053) |
Total Equity Index Contracts | $ (86,645) |
47 | Semi-Annual Report |
Description | Total | Level 1 | Level 2 | Level 3 | |||||
Investments in Securities: | |||||||||
Common Stocks | $ 837,600,437 | $ 837,600,437 | $ — | $ — | |||||
Money Market Funds | 1,620,000 | 1,620,000 | — | — | |||||
Total Investments in Securities: | $ 839,220,437 | $ 839,220,437 | $ — | $ — | |||||
Derivative Instruments: | |||||||||
Liabilities | |||||||||
Futures Contracts | $ (86,645) | $ (86,645) | $ — | $ — | |||||
Total Liabilities | $ (86,645) | $ (86,645) | $ — | $ — | |||||
Total Derivative Instruments: | $ (86,645) | $ (86,645) | $ — | $ — |
Primary Risk/ Derivative Type | Value | ||
Asset | Liabilities | ||
Equity Risk | |||
Futures Contracts(a) | $0 | $(86,645) | |
Total Equity Risk | 0 | (86,645) | |
Total Value of Derivatives | $0 | $(86,645) |
(a) | Reflects gross cumulative appreciation (depreciation) on futures contracts as presented in the Schedule of Investments. In the Statement of Assets and Liabilities, the period end daily variation margin is included in receivable or payable for daily variation margin on futures contracts, and the net cumulative appreciation (depreciation) is included in total accumulated earnings (loss). |
Semi-Annual Report | 48 |
49 | Semi-Annual Report |
Semi-Annual Report | 50 |
51 | Semi-Annual Report |
Semi-Annual Report | 52 |
Futures Contracts | |||||
Number
of contracts |
Expiration
Date |
Notional
Amount |
Value | Unrealized
Appreciation/ (Depreciation) | |
Purchased | |||||
Equity Index Contracts | |||||
CME E-mini Russell 2000 Index Contracts (United States) | 9 | March 2022 | $ 910,980 | $ (64,651) | $ (64,651) |
CME E-mini S&P Information Technology Select Sector Index Contracts (United States) | 76 | March 2022 | 12,392,560 | (338,884) | (338,884) |
Total Equity Index Contracts | $ (403,535) |
53 | Semi-Annual Report |
Description | Total | Level 1 | Level 2 | Level 3 | |||||
Investments in Securities: | |||||||||
Common Stocks | $ 6,675,938,160 | $ 6,675,938,160 | $ — | $ — | |||||
Money Market Funds | 11,734,000 | 11,734,000 | — | — | |||||
Total Investments in Securities: | $ 6,687,672,160 | $ 6,687,672,160 | $ — | $ — | |||||
Derivative Instruments: | |||||||||
Liabilities | |||||||||
Futures Contracts | $ (403,535) | $ (403,535) | $ — | $ — | |||||
Total Liabilities | $ (403,535) | $ (403,535) | $ — | $ — | |||||
Total Derivative Instruments: | $ (403,535) | $ (403,535) | $ — | $ — |
Primary Risk/ Derivative Type | Value | ||
Asset | Liabilities | ||
Equity Risk | |||
Futures Contracts(a) | $0 | $(403,535) | |
Total Equity Risk | 0 | (403,535) | |
Total Value of Derivatives | $0 | $(403,535) |
(a) | Reflects gross cumulative appreciation (depreciation) on futures contracts as presented in the Schedule of Investments. In the Statement of Assets and Liabilities, the period end daily variation margin is included in receivable or payable for daily variation margin on futures contracts, and the net cumulative appreciation (depreciation) is included in total accumulated earnings (loss). |
Semi-Annual Report | 54 |
55 | Semi-Annual Report |
Semi-Annual Report | 56 |
Futures Contracts | |||||
Number
of contracts |
Expiration
Date |
Notional
Amount |
Value | Unrealized
Appreciation/ (Depreciation) | |
Purchased | |||||
Equity Index Contracts | |||||
CME E-mini S&P Materials Select Sector Index Contracts (United States) | 9 | March 2022 | $ 801,990 | $ (43,186) | $ (43,186) |
CME E-mini Micro Russell 2000 Index Contracts (United States) | 9 | March 2022 | 91,098 | (8,617) | (8,617) |
Total Equity Index Contracts | $ (51,803) |
Description | Total | Level 1 | Level 2 | Level 3 | |||||
Investments in Securities: | |||||||||
Common Stocks | $ 516,520,198 | $ 516,520,198 | $ — | $ — | |||||
Money Market Funds | 1,389,000 | 1,389,000 | — | — | |||||
Total Investments in Securities: | $ 517,909,198 | $ 517,909,198 | $ — | $ — | |||||
Derivative Instruments: | |||||||||
Liabilities | |||||||||
Futures Contracts | $ (51,803) | $ (51,803) | $ — | $ — | |||||
Total Liabilities | $ (51,803) | $ (51,803) | $ — | $ — | |||||
Total Derivative Instruments: | $ (51,803) | $ (51,803) | $ — | $ — |
Primary Risk/ Derivative Type | Value | ||
Asset | Liabilities | ||
Equity Risk | |||
Futures Contracts(a) | $0 | $(51,803) | |
Total Equity Risk | 0 | (51,803) | |
Total Value of Derivatives | $0 | $(51,803) |
(a) | Reflects gross cumulative appreciation (depreciation) on futures contracts as presented in the Schedule of Investments. In the Statement of Assets and Liabilities, the period end daily variation margin is included in receivable or payable for daily variation margin on futures contracts, and the net cumulative appreciation (depreciation) is included in total accumulated earnings (loss). |
57 | Semi-Annual Report |
Semi-Annual Report | 58 |
59 | Semi-Annual Report |
Futures Contracts | |||||
Number
of contracts |
Expiration
Date |
Notional
Amount |
Value | Unrealized
Appreciation/ (Depreciation) | |
Purchased | |||||
Equity Index Contract | |||||
CME Dow Jones U.S. Real Estate Index Contracts (United States) | 96 | March 2022 | $3,984,000 | $(237,221) | $(237,221) |
Semi-Annual Report | 60 |
Description | Total | Level 1 | Level 2 | Level 3 | |||||
Investments in Securities: | |||||||||
Common Stocks | $ 2,144,243,655 | $ 2,144,243,655 | $ — | $ — | |||||
Money Market Funds | 2,511,000 | 2,511,000 | — | — | |||||
Total Investments in Securities: | $ 2,146,754,655 | $ 2,146,754,655 | $ — | $ — | |||||
Derivative Instruments: | |||||||||
Liabilities | |||||||||
Futures Contracts | $ (237,221) | $ (237,221) | $ — | $ — | |||||
Total Liabilities | $ (237,221) | $ (237,221) | $ — | $ — | |||||
Total Derivative Instruments: | $ (237,221) | $ (237,221) | $ — | $ — |
Primary Risk/ Derivative Type | Value | ||
Asset | Liabilities | ||
Equity Risk | |||
Futures Contracts(a) | $0 | $(237,221) | |
Total Equity Risk | 0 | (237,221) | |
Total Value of Derivatives | $0 | $(237,221) |
(a) | Reflects gross cumulative appreciation (depreciation) on futures contracts as presented in the Schedule of Investments. In the Statement of Assets and Liabilities, the period end daily variation margin is included in receivable or payable for daily variation margin on futures contracts, and the net cumulative appreciation (depreciation) is included in total accumulated earnings (loss). |
61 | Semi-Annual Report |
Semi-Annual Report | 62 |
Futures Contracts | |||||
Number
of contracts |
Expiration
Date |
Notional
Amount |
Value | Unrealized
Appreciation/ (Depreciation) | |
Purchased | |||||
Equity Index Contract | |||||
CME E-mini S&P Utilities Select Sector Index Contracts (United States) | 37 | March 2022 | $2,577,790 | $(18,998) | $(18,998) |
Description | Total | Level 1 | Level 2 | Level 3 | |||||
Investments in Securities: | |||||||||
Common Stocks | $ 1,220,757,743 | $ 1,220,757,743 | $ — | $ — | |||||
Money Market Funds | 2,214,000 | 2,214,000 | — | — | |||||
Total Investments in Securities: | $ 1,222,971,743 | $ 1,222,971,743 | $ — | $ — | |||||
Derivative Instruments: | |||||||||
Liabilities | |||||||||
Futures Contracts | $ (18,998) | $ (18,998) | $ — | $ — | |||||
Total Liabilities | $ (18,998) | $ (18,998) | $ — | $ — | |||||
Total Derivative Instruments: | $ (18,998) | $ (18,998) | $ — | $ — |
Primary Risk/ Derivative Type | Value | ||
Asset | Liabilities | ||
Equity Risk | |||
Futures Contracts(a) | $0 | $(18,998) | |
Total Equity Risk | 0 | (18,998) | |
Total Value of Derivatives | $0 | $(18,998) |
(a) | Reflects gross cumulative appreciation (depreciation) on futures contracts as presented in the Schedule of Investments. In the Statement of Assets and Liabilities, the period end daily variation margin is included in receivable or payable for daily variation margin on futures contracts, and the net cumulative appreciation (depreciation) is included in total accumulated earnings (loss). |
63 | Semi-Annual Report |
Fidelity
MSCI Communication Services Index ETF |
Fidelity
MSCI Consumer Discretionary Index ETF |
Fidelity
MSCI Consumer Staples Index ETF |
Fidelity
MSCI Energy Index ETF | ||||
Assets | |||||||
Investments in securities, at value – See accompanying schedule | $ 788,632,498 | $ 1,573,452,640 | $ 963,405,089 | $ 1,229,103,870 | |||
Segregated cash with brokers for derivative instruments | 55,000 | 117,000 | 110,500 | 168,000 | |||
Cash | 134,762 | 78,286 | 41,242 | 2,901 | |||
Receivable for investments sold | 3,477,839 | 233,410 | — | 51,629 | |||
Receivable for fund shares sold | — | — | 28,265 | 71,135 | |||
Dividends receivable | 1,280,782 | 434,965 | 1,134,709 | 935,030 | |||
Interest receivable | 5 | 12 | 7 | 6 | |||
Receivable for daily variation margin on futures contracts | 18,592 | 60,957 | 12,803 | 14,153 | |||
Total assets | 793,599,478 | 1,574,377,270 | 964,732,615 | 1,230,346,724 | |||
Liabilities | |||||||
Payable for investments purchased | 4,907,849 | 118,851 | — | — | |||
Payable for fund shares redeemed | — | 23,035 | — | — | |||
Accrued management fees | 56,764 | 121,479 | 65,067 | 81,153 | |||
Payable for daily variation margin on futures contracts | — | — | — | — | |||
Total liabilities | 4,964,613 | 263,365 | 65,067 | 81,153 | |||
Net Assets | $788,634,865 | $1,574,113,905 | $964,667,548 | $1,230,265,571 | |||
Net Assets consist of: | |||||||
Paid in capital | $691,267,733 | $1,188,683,799 | $840,245,901 | $1,135,518,593 | |||
Total accumulated earnings (loss) | 97,367,132 | 385,430,106 | 124,421,647 | 94,746,978 | |||
Net Assets | $788,634,865 | $1,574,113,905 | $964,667,548 | $1,230,265,571 | |||
Shares outstanding | 16,350,000 | 19,750,000 | 21,100,000 | 69,050,000 | |||
Net Asset Value per share | $ 48.23 | $ 79.70 | $ 45.72 | $ 17.82 | |||
Investments at cost | $694,986,585 | $1,318,056,341 | $819,025,313 | $ 962,090,092 |
Semi-Annual Report | 64 |
Fidelity
MSCI Financials Index ETF |
Fidelity
MSCI Health Care Index ETF |
Fidelity
MSCI Industrials Index ETF |
Fidelity
MSCI Information Technology Index ETF | ||||
Assets | |||||||
Investments in securities, at value – See accompanying schedule | $ 1,931,294,646 | $ 2,790,185,891 | $ 839,220,437 | $ 6,687,672,160 | |||
Segregated cash with brokers for derivative instruments | 307,700 | 330,000 | 96,500 | 733,500 | |||
Cash | 70,511 | 21,613 | 21,246 | 520,194 | |||
Receivable for investments sold | 12,895 | 135,483 | — | 259,798 | |||
Receivable for fund shares sold | 147,581 | — | — | — | |||
Dividends receivable | 1,168,653 | 3,727,158 | 349,377 | 1,248,189 | |||
Interest receivable | 19 | 31 | 7 | 39 | |||
Receivable for daily variation margin on futures contracts | 35,263 | 69,085 | 32,616 | 349,332 | |||
Total assets | 1,933,037,268 | 2,794,469,261 | 839,720,183 | 6,690,783,212 | |||
Liabilities | |||||||
Payable for investments purchased | — | — | — | — | |||
Payable for fund shares redeemed | — | 12,790 | 38,745 | — | |||
Accrued management fees | 137,144 | 199,343 | 62,264 | 472,973 | |||
Payable for daily variation margin on futures contracts | — | — | — | — | |||
Total liabilities | 137,144 | 212,133 | 101,009 | 472,973 | |||
Net Assets | $1,932,900,124 | $2,794,257,128 | $839,619,174 | $6,690,310,239 | |||
Net Assets consist of: | |||||||
Paid in capital | $1,593,131,322 | $2,145,046,921 | $732,963,436 | $3,645,352,999 | |||
Total accumulated earnings (loss) | 339,768,802 | 649,210,207 | 106,655,738 | 3,044,957,240 | |||
Net Assets | $1,932,900,124 | $2,794,257,128 | $839,619,174 | $6,690,310,239 | |||
Shares outstanding | 34,750,000 | 44,200,000 | 15,950,000 | 53,550,000 | |||
Net Asset Value per share | $ 55.62 | $ 63.22 | $ 52.64 | $ 124.94 | |||
Investments at cost | $1,593,239,036 | $2,168,564,929 | $742,310,342 | $3,663,041,681 |
65 | Semi-Annual Report |
Fidelity
MSCI Materials Index ETF |
Fidelity
MSCI Real Estate Index ETF |
Fidelity
MSCI Utilities Index ETF | |||
Assets | |||||
Investments in securities, at value – See accompanying schedule | $ 517,909,198 | $ 2,146,754,655 | $ 1,222,971,743 | ||
Segregated cash with brokers for derivative instruments | 40,950 | 220,800 | 111,000 | ||
Cash | 39,415 | 96,336 | 33,550 | ||
Receivable for investments sold | — | 942,561 | — | ||
Receivable for fund shares sold | 20,516 | — | 94,557 | ||
Dividends receivable | 298,479 | 666,966 | 444,315 | ||
Interest receivable | 6 | 13 | 10 | ||
Receivable for daily variation margin on futures contracts | 15,639 | — | 23,976 | ||
Total assets | 518,324,203 | 2,148,681,331 | 1,223,679,151 | ||
Liabilities | |||||
Payable for investments purchased | 768,502 | — | — | ||
Payable for fund shares redeemed | 10,258 | — | — | ||
Accrued management fees | 36,938 | 153,975 | 84,491 | ||
Payable for daily variation margin on futures contracts | — | 22,960 | — | ||
Total liabilities | 815,698 | 176,935 | 84,491 | ||
Net Assets | $517,508,505 | $2,148,504,396 | $1,223,594,660 | ||
Net Assets consist of: | |||||
Paid in capital | $484,807,248 | $1,857,195,053 | $1,140,872,625 | ||
Total accumulated earnings (loss) | 32,701,257 | 291,309,343 | 82,722,035 | ||
Net Assets | $517,508,505 | $2,148,504,396 | $1,223,594,660 | ||
Shares outstanding | 11,050,000 | 67,400,000 | 27,350,000 | ||
Net Asset Value per share | $ 46.83 | $ 31.88 | $ 44.74 | ||
Investments at cost | $496,787,448 | $1,816,162,672 | $1,137,915,729 |
Semi-Annual Report | 66 |
Fidelity
MSCI Communication Services Index ETF |
Fidelity
MSCI Consumer Discretionary Index ETF |
Fidelity
MSCI Consumer Staples Index ETF |
Fidelity
MSCI Energy Index ETF | ||||
Investment Income | |||||||
Dividends | $ 3,726,224 | $ 6,715,853 | $ 10,050,130 | $ 20,530,988 | |||
Non-Cash dividends | 1,381,986 | — | — | — | |||
Interest | 26 | 52 | 30 | 32 | |||
Total income | 5,108,236 | 6,715,905 | 10,050,160 | 20,531,020 | |||
Expenses | |||||||
Management fees | 380,805 | 716,042 | 355,653 | 418,109 | |||
Independent trustees' fees and expenses | 1,592 | 2,938 | 1,458 | 1,674 | |||
Legal | — | 33 | — | — | |||
Total expenses | 382,397 | 719,013 | 357,111 | 419,783 | |||
Net investment income (loss) | 4,725,839 | 5,996,892 | 9,693,049 | 20,111,237 | |||
Realized and Unrealized Gain (Loss) | |||||||
Net realized gain (loss) on investment securities | 2,178,061 | (5,989,711) | (64,309) | (18,081,175) | |||
Net realized gain (loss) on In-kind redemptions | 35,830,441 | 167,948,428 | 5,308,390 | 38,070,970 | |||
Net realized gain (loss) on futures contracts | (201,485) | 281,586 | 285,452 | (55,734) | |||
Net realized gain (loss) on foreign currency transactions | — | — | — | — | |||
Total net realized gain (loss) | 37,807,017 | 162,240,303 | 5,529,533 | 19,934,061 | |||
Change in net unrealized appreciation (depreciation) on investment securities | (151,718,321) | (203,394,509) | 40,782,839 | 260,122,194 | |||
Change in net unrealized appreciation (depreciation) on futures contracts | (87,835) | (220,160) | (45,470) | 328,765 | |||
Total change in net unrealized appreciation (depreciation) | (151,806,156) | (203,614,669) | 40,737,369 | 260,450,959 | |||
Net gain (loss) | (113,999,139) | (41,374,366) | 46,266,902 | 280,385,020 | |||
Net increase (decrease) in net assets resulting from operations | $(109,273,300) | $ (35,377,474) | $ 55,959,951 | $300,496,257 |
67 | Semi-Annual Report |
Fidelity
MSCI Financials Index ETF |
Fidelity
MSCI Health Care Index ETF |
Fidelity
MSCI Industrials Index ETF |
Fidelity
MSCI Information Technology Index ETF | ||||
Investment Income | |||||||
Dividends | $ 18,759,093 | $ 18,672,386 | $ 5,523,399 | $ 24,407,862 | |||
Non-Cash dividends | — | — | — | — | |||
Interest | 68 | 123 | 26 | 283 | |||
Total income | 18,759,161 | 18,672,509 | 5,523,425 | 24,408,145 | |||
Expenses | |||||||
Management fees | 789,622 | 1,217,116 | 363,950 | 2,777,781 | |||
Independent trustees' fees and expenses | 3,209 | 5,033 | 1,515 | 11,273 | |||
Legal | — | — | — | — | |||
Total expenses | 792,831 | 1,222,149 | 365,465 | 2,789,054 | |||
Net investment income (loss) | 17,966,330 | 17,450,360 | 5,157,960 | 21,619,091 | |||
Realized and Unrealized Gain (Loss) | |||||||
Net realized gain (loss) on investment securities | (3,684,993) | (1,562,586) | 2,619,951 | 4,801,621 | |||
Net realized gain (loss) on In-kind redemptions | 37,079,460 | 68,154,017 | 21,861,852 | 54,193,309 | |||
Net realized gain (loss) on futures contracts | 407,593 | 240,139 | (102,466) | 2,666,153 | |||
Net realized gain (loss) on foreign currency transactions | — | — | (3) | — | |||
Total net realized gain (loss) | 33,802,060 | 66,831,570 | 24,379,334 | 61,661,083 | |||
Change in net unrealized appreciation (depreciation) on investment securities | 76,265,635 | (194,811,270) | (56,842,389) | 86,709,738 | |||
Change in net unrealized appreciation (depreciation) on futures contracts | (73,838) | (546,889) | (88,240) | (905,459) | |||
Total change in net unrealized appreciation (depreciation) | 76,191,797 | (195,358,159) | (56,930,629) | 85,804,279 | |||
Net gain (loss) | 109,993,857 | (128,526,589) | (32,551,295) | 147,465,362 | |||
Net increase (decrease) in net assets resulting from operations | $127,960,187 | $(111,076,229) | $(27,393,335) | $169,084,453 |
Semi-Annual Report | 68 |
Fidelity
MSCI Materials Index ETF |
Fidelity
MSCI Real Estate Index ETF |
Fidelity
MSCI Utilities Index ETF | |||
Investment Income | |||||
Dividends | $ 4,212,172 | $ 28,557,856 | $ 17,175,778 | ||
Non-Cash dividends | — | 1,805,296 | — | ||
Interest | 17 | 38 | 25 | ||
Total income | 4,212,189 | 30,363,190 | 17,175,803 | ||
Expenses | |||||
Management fees | 214,101 | 859,200 | 482,678 | ||
Independent trustees' fees and expenses | 906 | 3,381 | 1,965 | ||
Legal | — | — | — | ||
Total expenses | 215,007 | 862,581 | 484,643 | ||
Net investment income (loss) | 3,997,182 | 29,500,609 | 16,691,160 | ||
Realized and Unrealized Gain (Loss) | |||||
Net realized gain (loss) on investment securities | (559,637) | (13,524,622) | (1,658,291) | ||
Net realized gain (loss) on In-kind redemptions | 23,464,049 | 21,171,594 | 29,095,367 | ||
Net realized gain (loss) on futures contracts | (61,645) | 264,851 | 236,821 | ||
Net realized gain (loss) on foreign currency transactions | — | — | — | ||
Total net realized gain (loss) | 22,842,767 | 7,911,823 | 27,673,897 | ||
Change in net unrealized appreciation (depreciation) on investment securities | (26,064,642) | (10,318,469) | 27,391,765 | ||
Change in net unrealized appreciation (depreciation) on futures contracts | (37,481) | (321,537) | (52,425) | ||
Total change in net unrealized appreciation (depreciation) | (26,102,123) | (10,640,006) | 27,339,340 | ||
Net gain (loss) | (3,259,356) | (2,728,183) | 55,013,237 | ||
Net increase (decrease) in net assets resulting from operations | $ 737,826 | $ 26,772,426 | $ 71,704,397 |
69 | Semi-Annual Report |
Fidelity MSCI Communication Services Index ETF |
Fidelity MSCI Consumer Discretionary Index ETF | ||||||
Six
months ended January 31, 2022 (Unaudited) |
Year
ended July 31, 2021 |
Six
months ended January 31, 2022 (Unaudited) |
Year
ended July 31, 2021 | ||||
Increase (Decrease) in Net Assets | |||||||
Operations | |||||||
Net investment income (loss) | $ 4,725,839 | $ 4,881,029 | $ 5,996,892 | $ 7,612,303 | |||
Net realized gain (loss) | 37,807,017 | 67,452,249 | 162,240,303 | 125,780,203 | |||
Change in net unrealized appreciation (depreciation) | (151,806,156) | 172,979,615 | (203,614,669) | 281,286,349 | |||
Net increase (decrease) in net assets resulting from operations | (109,273,300) | 245,312,893 | (35,377,474) | 414,678,855 | |||
Distributions to shareholders | (5,212,200) | (4,490,900) | (6,016,400) | (7,322,150) | |||
Share transactions | |||||||
Proceeds from sales of shares | 79,158,252 | 277,514,566 | 312,712,026 | 640,804,871 | |||
Cost of shares redeemed | (92,413,171) | (179,670,185) | (328,735,390) | (298,219,402) | |||
Net increase (decrease) in net assets resulting from share transactions | (13,254,919) | 97,844,381 | (16,023,364) | 342,585,469 | |||
Total increase (decrease) in net assets | (127,740,419) | 338,666,374 | (57,417,238) | 749,942,174 | |||
Net Assets | |||||||
Beginning of period | 916,375,284 | 577,708,910 | 1,631,531,143 | 881,588,969 | |||
End of period | $ 788,634,865 | $ 916,375,284 | $1,574,113,905 | $1,631,531,143 | |||
Other Information | |||||||
Shares | |||||||
Sold | 1,450,000 | 5,500,000 | 3,650,000 | 9,000,000 | |||
Redeemed | (1,800,000) | (4,050,000) | (3,950,000) | (4,350,000) | |||
Net increase (decrease) | (350,000) | 1,450,000 | (300,000) | 4,650,000 |
Semi-Annual Report | 70 |
Fidelity MSCI Consumer Staples Index ETF |
Fidelity MSCI Energy Index ETF | ||||||
Six
months ended January 31, 2022 (Unaudited) |
Year
ended July 31, 2021 |
Six
months ended January 31, 2022 (Unaudited) |
Year
ended July 31, 2021 | ||||
Increase (Decrease) in Net Assets | |||||||
Operations | |||||||
Net investment income (loss) | $ 9,693,049 | $ 20,968,508 | $ 20,111,237 | $ 28,490,030 | |||
Net realized gain (loss) | 5,529,533 | 55,734,389 | 19,934,061 | (6,896,933) | |||
Change in net unrealized appreciation (depreciation) | 40,737,369 | 62,687,995 | 260,450,959 | 241,972,018 | |||
Net increase (decrease) in net assets resulting from operations | 55,959,951 | 139,390,892 | 300,496,257 | 263,565,115 | |||
Distributions to shareholders | (9,715,800) | (20,813,400) | (18,971,900) | (29,586,300) | |||
Share transactions | |||||||
Proceeds from sales of shares | 121,801,557 | 272,522,699 | 162,720,276 | 328,207,237 | |||
Cost of shares redeemed | (21,660,848) | (251,466,243) | (108,037,059) | (117,452,719) | |||
Net increase (decrease) in net assets resulting from share transactions | 100,140,709 | 21,056,456 | 54,683,217 | 210,754,518 | |||
Total increase (decrease) in net assets | 146,384,860 | 139,633,948 | 336,207,574 | 444,733,333 | |||
Net Assets | |||||||
Beginning of period | 818,282,688 | 678,648,740 | 894,057,997 | 449,324,664 | |||
End of period | $964,667,548 | $ 818,282,688 | $1,230,265,571 | $ 894,057,997 | |||
Other Information | |||||||
Shares | |||||||
Sold | 2,700,000 | 6,800,000 | 10,300,000 | 28,300,000 | |||
Redeemed | (500,000) | (6,100,000) | (7,600,000) | (9,400,000) | |||
Net increase (decrease) | 2,200,000 | 700,000 | 2,700,000 | 18,900,000 |
71 | Semi-Annual Report |
Fidelity MSCI Financials Index ETF |
Fidelity MSCI Health Care Index ETF | ||||||
Six
months ended January 31, 2022 (Unaudited) |
Year
ended July 31, 2021 |
Six
months ended January 31, 2022 (Unaudited) |
Year
ended July 31, 2021 | ||||
Increase (Decrease) in Net Assets | |||||||
Operations | |||||||
Net investment income (loss) | $ 17,966,330 | $ 24,866,481 | $ 17,450,360 | $ 31,015,066 | |||
Net realized gain (loss) | 33,802,060 | 39,534,722 | 66,831,570 | 66,838,221 | |||
Change in net unrealized appreciation (depreciation) | 76,191,797 | 390,693,235 | (195,358,159) | 504,537,093 | |||
Net increase (decrease) in net assets resulting from operations | 127,960,187 | 455,094,438 | (111,076,229) | 602,390,380 | |||
Distributions to shareholders | (18,017,150) | (23,611,000) | (18,462,700) | (33,149,950) | |||
Share transactions | |||||||
Proceeds from sales of shares | 206,821,504 | 715,027,877 | 220,557,260 | 399,566,161 | |||
Cost of shares redeemed | (100,799,367) | (154,635,399) | (142,999,766) | (137,834,298) | |||
Net increase (decrease) in net assets resulting from share transactions | 106,022,137 | 560,392,478 | 77,557,494 | 261,731,863 | |||
Total increase (decrease) in net assets | 215,965,174 | 991,875,916 | (51,981,435) | 830,972,293 | |||
Net Assets | |||||||
Beginning of period | 1,716,934,950 | 725,059,034 | 2,846,238,563 | 2,015,266,270 | |||
End of period | $1,932,900,124 | $1,716,934,950 | $2,794,257,128 | $2,846,238,563 | |||
Other Information | |||||||
Shares | |||||||
Sold | 3,650,000 | 14,900,000 | 3,300,000 | 6,950,000 | |||
Redeemed | (1,800,000) | (3,250,000) | (2,200,000) | (2,350,000) | |||
Net increase (decrease) | 1,850,000 | 11,650,000 | 1,100,000 | 4,600,000 |
Semi-Annual Report | 72 |
Fidelity MSCI Industrials Index ETF |
Fidelity MSCI Information Technology Index ETF | ||||||
Six
months ended January 31, 2022 (Unaudited) |
Year
ended July 31, 2021 |
Six
months ended January 31, 2022 (Unaudited) |
Year
ended July 31, 2021 | ||||
Increase (Decrease) in Net Assets | |||||||
Operations | |||||||
Net investment income (loss) | $ 5,157,960 | $ 7,779,970 | $ 21,619,091 | $ 39,380,753 | |||
Net realized gain (loss) | 24,379,334 | 10,549,630 | 61,661,083 | 223,319,232 | |||
Change in net unrealized appreciation (depreciation) | (56,930,629) | 189,422,820 | 85,804,279 | 1,490,020,346 | |||
Net increase (decrease) in net assets resulting from operations | (27,393,335) | 207,752,420 | 169,084,453 | 1,752,720,331 | |||
Distributions to shareholders | (5,147,300) | (7,709,800) | (23,751,150) | (39,319,850) | |||
Share transactions | |||||||
Proceeds from sales of shares | 66,309,673 | 348,123,647 | 422,255,213 | 583,974,201 | |||
Cost of shares redeemed | (56,421,016) | (33,192,592) | (84,167,045) | (378,741,782) | |||
Net increase (decrease) in net assets resulting from share transactions | 9,888,657 | 314,931,055 | 338,088,168 | 205,232,419 | |||
Total increase (decrease) in net assets | (22,651,978) | 514,973,675 | 483,421,471 | 1,918,632,900 | |||
Net Assets | |||||||
Beginning of period | 862,271,152 | 347,297,477 | 6,206,888,768 | 4,288,255,868 | |||
End of period | $839,619,174 | $862,271,152 | $6,690,310,239 | $6,206,888,768 | |||
Other Information | |||||||
Shares | |||||||
Sold | 1,200,000 | 7,200,000 | 3,250,000 | 5,600,000 | |||
Redeemed | (1,050,000) | (650,000) | (700,000) | (3,750,000) | |||
Net increase (decrease) | 150,000 | 6,550,000 | 2,550,000 | 1,850,000 |
73 | Semi-Annual Report |
Fidelity MSCI Materials Index ETF |
Fidelity MSCI Real Estate Index ETF | ||||||
Six
months ended January 31, 2022 (Unaudited) |
Year
ended July 31, 2021 |
Six
months ended January 31, 2022 (Unaudited) |
Year
ended July 31, 2021 | ||||
Increase (Decrease) in Net Assets | |||||||
Operations | |||||||
Net investment income (loss) | $ 3,997,182 | $ 5,649,740 | $ 29,500,609 | $ 28,240,488 | |||
Net realized gain (loss) | 22,842,767 | 23,574,472 | 7,911,823 | 9,097,959 | |||
Change in net unrealized appreciation (depreciation) | (26,102,123) | 65,955,360 | (10,640,006) | 381,807,072 | |||
Net increase (decrease) in net assets resulting from operations | 737,826 | 95,179,572 | 26,772,426 | 419,145,519 | |||
Distributions to shareholders | (4,060,900) | (5,562,850) | (26,655,300) | (43,349,650) | |||
Share transactions | |||||||
Proceeds from sales of shares | 60,989,240 | 363,160,504 | 414,933,761 | 427,447,059 | |||
Cost of shares redeemed | (84,294,241) | (73,126,709) | (51,161,702) | (84,781,395) | |||
Net increase (decrease) in net assets resulting from share transactions | (23,305,001) | 290,033,795 | 363,772,059 | 342,665,664 | |||
Total increase (decrease) in net assets | (26,628,075) | 379,650,517 | 363,889,185 | 718,461,533 | |||
Net Assets | |||||||
Beginning of period | 544,136,580 | 164,486,063 | 1,784,615,211 | 1,066,153,678 | |||
End of period | $517,508,505 | $544,136,580 | $2,148,504,396 | $1,784,615,211 | |||
Other Information | |||||||
Shares | |||||||
Sold | 1,250,000 | 8,250,000 | 12,800,000 | 15,600,000 | |||
Redeemed | (1,800,000) | (1,650,000) | (1,600,000) | (3,400,000) | |||
Net increase (decrease) | (550,000) | 6,600,000 | 11,200,000 | 12,200,000 |
Semi-Annual Report | 74 |
Fidelity MSCI Utilities Index ETF | |||
Six
months ended January 31, 2022 (Unaudited) |
Year
ended July 31, 2021 | ||
Increase (Decrease) in Net Assets | |||
Operations | |||
Net investment income (loss) | $ 16,691,160 | $ 30,395,742 | |
Net realized gain (loss) | 27,673,897 | 37,203,035 | |
Change in net unrealized appreciation (depreciation) | 27,339,340 | 48,102,265 | |
Net increase (decrease) in net assets resulting from operations | 71,704,397 | 115,701,042 | |
Distributions to shareholders | (16,242,750) | (31,181,450) | |
Share transactions | |||
Proceeds from sales of shares | 226,414,161 | 416,979,624 | |
Cost of shares redeemed | (134,573,391) | (270,013,514) | |
Net increase (decrease) in net assets resulting from share transactions | 91,840,770 | 146,966,110 | |
Total increase (decrease) in net assets | 147,302,417 | 231,485,702 | |
Net Assets | |||
Beginning of period | 1,076,292,243 | 844,806,541 | |
End of period | $1,223,594,660 | $1,076,292,243 | |
Other Information | |||
Shares | |||
Sold | 5,100,000 | 10,350,000 | |
Redeemed | (3,000,000) | (6,700,000) | |
Net increase (decrease) | 2,100,000 | 3,650,000 |
75 | Semi-Annual Report |
Fidelity MSCI Communication Services Index ETF | |||||||||||
Six
months ended January 31, 2022 (Unaudited) |
Year
ended July 31, 2021 |
Year
ended July 31, 2020 |
Year
ended July 31, 2019 |
Year
ended July 31, 2018 |
Year
ended July 31, 2017 | ||||||
Selected Per-Share Data | |||||||||||
Net asset value, beginning of period | $ 54.87 | $ 37.88 | $ 34.35 | $ 28.76 | $ 32.62 | $ 32.10 | |||||
Income from Investment Operations | |||||||||||
Net investment income (loss)A,B | 0.28 | 0.34 | 0.33 | 0.49 | 0.85 | 0.80 | |||||
Net realized and unrealized gain (loss) | (6.62) | 16.96 | 3.52 | 5.59 | (2.43) | 0.62 | |||||
Total from investment operations | (6.34) | 17.30 | 3.85 | 6.08 | (1.58) | 1.42 | |||||
Distributions from net investment income | (0.30) | (0.31) | (0.32) | (0.49) | (1.00) | (0.90) | |||||
Distributions from net realized gain | — | — | — | — | (1.28) | — | |||||
Total distributions | (0.30) | (0.31) | (0.32) | (0.49) | (2.28) | (0.90) | |||||
Net asset value, end of period | $ 48.23 | $ 54.87 | $ 37.88 | $ 34.35 | $ 28.76 | $ 32.62 | |||||
Total ReturnC,D | (11.59)% | 45.81% | 11.40% | 21.33% | (5.14)% | 4.58% | |||||
Ratios to Average Net AssetsA,E | |||||||||||
Expenses before reductions | .08% F | .08% | .08% | .08% | .08% | .08% | |||||
Expenses net of fee waivers, if any | .08% F | .08% | .08% | .08% | .08% | .08% | |||||
Expenses net of all reductions | .08% F | .08% | .08% | .08% | .08% | .08% | |||||
Net investment income (loss) | 1.04% F | .72% | .96% | 1.53% | 2.81% | 2.55% | |||||
Supplemental Data | |||||||||||
Net assets, end of period (000 omitted) | $788,635 | $916,375 | $577,709 | $374,389 | $125,104 | $115,818 | |||||
Portfolio turnover rateG,H | 12% I | 13% | 23% | 82% | 38% | 27% |
A | Net investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any such underlying funds is not included in the Fund's net investment income (loss) ratio. |
B | Calculated based on average shares outstanding during the period. |
C | Based on net asset value. |
D | Total returns for periods of less than one year are not annualized. |
E | Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment advisor, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur. |
F | Annualized. |
G | Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs). |
H | Portfolio turnover rate excludes securities received or delivered in-kind. |
I | Amount not annualized. |
Semi-Annual Report | 76 |
Fidelity MSCI Consumer Discretionary Index ETF | |||||||||||
Six
months ended January 31, 2022 (Unaudited) |
Year
ended July 31, 2021 |
Year
ended July 31, 2020 |
Year
ended July 31, 2019 |
Year
ended July 31, 2018 |
Year
ended July 31, 2017 | ||||||
Selected Per-Share Data | |||||||||||
Net asset value, beginning of period | $ 81.37 | $ 57.25 | $ 46.25 | $ 43.32 | $ 36.06 | $ 31.99 | |||||
Income from Investment Operations | |||||||||||
Net investment income (loss)A,B | 0.30 | 0.42 | 0.50 | 0.51 | 0.47 | 0.50 | |||||
Net realized and unrealized gain (loss) | (1.67) | 24.10 | 11.01 | 2.96 | 7.20 | 4.07 | |||||
Total from investment operations | (1.37) | 24.52 | 11.51 | 3.47 | 7.67 | 4.57 | |||||
Distributions from net investment income | (0.30) | (0.40) | (0.51) | (0.54) | (0.41) | (0.50) | |||||
Total distributions | (0.30) | (0.40) | (0.51) | (0.54) | (0.41) | (0.50) | |||||
Net asset value, end of period | $ 79.70 | $ 81.37 | $ 57.25 | $ 46.25 | $ 43.32 | $ 36.06 | |||||
Total ReturnC,D | (1.70)% | 42.95% | 25.26% | 8.15% | 21.36% | 14.41% | |||||
Ratios to Average Net AssetsA,E | |||||||||||
Expenses before reductions | .08% F | .08% | .08% | .08% | .08% | .08% | |||||
Expenses net of fee waivers, if any | .08% F | .08% | .08% | .08% | .08% | .08% | |||||
Expenses net of all reductions | .08% F | .08% | .08% | .08% | .08% | .08% | |||||
Net investment income (loss) | .70% F | .58% | 1.06% | 1.18% | 1.16% | 1.49% | |||||
Supplemental Data | |||||||||||
Net assets, end of period (000 omitted) | $1,574,114 | $1,631,531 | $881,589 | $728,457 | $628,129 | $293,913 | |||||
Portfolio turnover rateG,H | 2% I | 48% | 60% | 25% | 5% | 7% |
A | Net investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any such underlying funds is not included in the Fund's net investment income (loss) ratio. |
B | Calculated based on average shares outstanding during the period. |
C | Based on net asset value. |
D | Total returns for periods of less than one year are not annualized. |
E | Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment advisor, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur. |
F | Annualized. |
G | Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs). |
H | Portfolio turnover rate excludes securities received or delivered in-kind. |
I | Amount not annualized. |
77 | Semi-Annual Report |
Fidelity MSCI Consumer Staples Index ETF | |||||||||||
Six
months ended January 31, 2022 (Unaudited) |
Year
ended July 31, 2021 |
Year
ended July 31, 2020 |
Year
ended July 31, 2019 |
Year
ended July 31, 2018 |
Year
ended July 31, 2017 | ||||||
Selected Per-Share Data | |||||||||||
Net asset value, beginning of period | $ 43.30 | $ 37.29 | $ 35.59 | $ 32.33 | $ 33.23 | $ 32.82 | |||||
Income from Investment Operations | |||||||||||
Net investment income (loss)A,B | 0.50 | 1.02 | 0.96 | 0.94 | 0.86 | 0.83 | |||||
Net realized and unrealized gain (loss) | 2.43 | 6.01 | 1.70 | 3.23 | (0.88) | 0.40 | |||||
Total from investment operations | 2.93 | 7.03 | 2.66 | 4.17 | (0.02) | 1.23 | |||||
Distributions from net investment income | (0.51) | (1.02) | (0.96) | (0.91) | (0.88) | (0.82) | |||||
Total distributions | (0.51) | (1.02) | (0.96) | (0.91) | (0.88) | (0.82) | |||||
Net asset value, end of period | $ 45.72 | $ 43.30 | $ 37.29 | $ 35.59 | $ 32.33 | $ 33.23 | |||||
Total ReturnC,D | 6.82% | 19.09% | 7.74% | 13.16% | (0.06)% | 3.82% | |||||
Ratios to Average Net AssetsA,E | |||||||||||
Expenses before reductions | .08% F | .08% | .08% | .08% | .08% | .08% | |||||
Expenses net of fee waivers, if any | .08% F | .08% | .08% | .08% | .08% | .08% | |||||
Expenses net of all reductions | .08% F | .08% | .08% | .08% | .08% | .08% | |||||
Net investment income (loss) | 2.28% F | 2.53% | 2.68% | 2.83% | 2.65% | 2.56% | |||||
Supplemental Data | |||||||||||
Net assets, end of period (000 omitted) | $964,668 | $818,283 | $678,649 | $548,070 | $311,970 | $312,349 | |||||
Portfolio turnover rateG,H | 5% I | 20% | 34% | 30% | 24% | 11% |
A | Net investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any such underlying funds is not included in the Fund's net investment income (loss) ratio. |
B | Calculated based on average shares outstanding during the period. |
C | Based on net asset value. |
D | Total returns for periods of less than one year are not annualized. |
E | Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment advisor, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur. |
F | Annualized. |
G | Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs). |
H | Portfolio turnover rate excludes securities received or delivered in-kind. |
I | Amount not annualized. |
Semi-Annual Report | 78 |
Fidelity MSCI Energy Index ETF | |||||||||||
Six
months ended January 31, 2022 (Unaudited) |
Year
ended July 31, 2021 |
Year
ended July 31, 2020 |
Year
ended July 31, 2019 |
Year
ended July 31, 2018 |
Year
ended July 31, 2017 | ||||||
Selected Per-Share Data | |||||||||||
Net asset value, beginning of period | $ 13.47 | $ 9.47 | $ 16.79 | $ 21.50 | $ 18.39 | $ 19.03 | |||||
Income from Investment Operations | |||||||||||
Net investment income (loss)A,B | 0.30 | 0.49 | 0.51 | 0.54 | 0.47 | 0.57 | |||||
Net realized and unrealized gain (loss) | 4.34 | 4.02 | (6.86) | (4.70) | 3.22 | (0.73) | |||||
Total from investment operations | 4.64 | 4.51 | (6.35) | (4.16) | 3.69 | (0.16) | |||||
Distributions from net investment income | (0.29) | (0.51) | (0.97) | (0.55) | (0.58) | (0.48) | |||||
Total distributions | (0.29) | (0.51) | (0.97) | (0.55) | (0.58) | (0.48) | |||||
Net asset value, end of period | $ 17.82 | $ 13.47 | $ 9.47 | $ 16.79 | $ 21.50 | $ 18.39 | |||||
Total ReturnC,D | 34.98% | 48.79% | (39.28)% | (19.42)% | 20.52% | (0.96)% | |||||
Ratios to Average Net AssetsA,E | |||||||||||
Expenses before reductions | .08% F | .08% | .08% | .08% | .08% | .08% | |||||
Expenses net of fee waivers, if any | .08% F | .08% | .08% | .08% | .08% | .08% | |||||
Expenses net of all reductions | .08% F | .08% | .08% | .08% | .08% | .08% | |||||
Net investment income (loss) | 4.03% F | 4.11% | 4.18% | 2.92% | 2.40% | 2.91% | |||||
Supplemental Data | |||||||||||
Net assets, end of period (000 omitted) | $1,230,266 | $894,058 | $449,325 | $467,628 | $634,157 | $431,311 | |||||
Portfolio turnover rateG,H | 5% I | 11% | 17% | 6% | 5% | 10% |
A | Net investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any such underlying funds is not included in the Fund's net investment income (loss) ratio. |
B | Calculated based on average shares outstanding during the period. |
C | Based on net asset value. |
D | Total returns for periods of less than one year are not annualized. |
E | Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment advisor, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur. |
F | Annualized. |
G | Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs). |
H | Portfolio turnover rate excludes securities received or delivered in-kind. |
I | Amount not annualized. |
79 | Semi-Annual Report |
Fidelity MSCI Financials Index ETF | |||||||||||
Six
months ended January 31, 2022 (Unaudited) |
Year
ended July 31, 2021 |
Year
ended July 31, 2020 |
Year
ended July 31, 2019 |
Year
ended July 31, 2018 |
Year
ended July 31, 2017 | ||||||
Selected Per-Share Data | |||||||||||
Net asset value, beginning of period | $ 52.19 | $ 34.12 | $ 41.22 | $ 41.05 | $ 36.94 | $ 28.61 | |||||
Income from Investment Operations | |||||||||||
Net investment income (loss)A,B | 0.53 | 0.96 | 1.00 | 0.89 | 0.75 | 0.61 | |||||
Net realized and unrealized gain (loss) | 3.43 | 18.00 | (7.09) | 0.18 | 4.11 | 8.28 | |||||
Total from investment operations | 3.96 | 18.96 | (6.09) | 1.07 | 4.86 | 8.89 | |||||
Distributions from net investment income | (0.53) | (0.89) | (1.01) | (0.90) | (0.75) | (0.56) | |||||
Total distributions | (0.53) | (0.89) | (1.01) | (0.90) | (0.75) | (0.56) | |||||
Net asset value, end of period | $ 55.62 | $ 52.19 | $ 34.12 | $ 41.22 | $ 41.05 | $ 36.94 | |||||
Total ReturnC,D | 7.63% | 56.15% | (14.78)% | 2.80% | 13.23% | 31.31% | |||||
Ratios to Average Net AssetsA,E | |||||||||||
Expenses before reductions | .08% F | .08% | .08% | .08% | .08% | .08% | |||||
Expenses net of fee waivers, if any | .08% F | .08% | .08% | .08% | .08% | .08% | |||||
Expenses net of all reductions | .08% F | .08% | .08% | .08% | .08% | .08% | |||||
Net investment income (loss) | 1.91% F | 2.10% | 2.61% | 2.27% | 1.88% | 1.77% | |||||
Supplemental Data | |||||||||||
Net assets, end of period (000 omitted) | $1,932,900 | $1,716,935 | $725,059 | $1,143,858 | $1,574,375 | $921,679 | |||||
Portfolio turnover rateG,H | 2% I | 4% | 6% | 5% | 5% | 18% |
A | Net investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any such underlying funds is not included in the Fund's net investment income (loss) ratio. |
B | Calculated based on average shares outstanding during the period. |
C | Based on net asset value. |
D | Total returns for periods of less than one year are not annualized. |
E | Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment advisor, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur. |
F | Annualized. |
G | Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs). |
H | Portfolio turnover rate excludes securities received or delivered in-kind. |
I | Amount not annualized. |
Semi-Annual Report | 80 |
Fidelity MSCI Health Care Index ETF | |||||||||||
Six
months ended January 31, 2022 (Unaudited) |
Year
ended July 31, 2021 |
Year
ended July 31, 2020 |
Year
ended July 31, 2019 |
Year
ended July 31, 2018 |
Year
ended July 31, 2017 | ||||||
Selected Per-Share Data | |||||||||||
Net asset value, beginning of period | $ 66.04 | $ 52.34 | $ 44.43 | $ 43.72 | $ 38.44 | $ 35.67 | |||||
Income from Investment Operations | |||||||||||
Net investment income (loss)A,B | 0.40 | 0.75 | 0.72 | 0.63 | 0.56 | 0.51 | |||||
Net realized and unrealized gain (loss) | (2.81) | 13.74 | 7.88 | 1.01 | 5.29 | 2.76 | |||||
Total from investment operations | (2.41) | 14.49 | 8.60 | 1.64 | 5.85 | 3.27 | |||||
Distributions from net investment income | (0.41) | (0.79) | (0.69) | (0.93) | (0.57) | (0.50) | |||||
Total distributions | (0.41) | (0.79) | (0.69) | (0.93) | (0.57) | (0.50) | |||||
Net asset value, end of period | $ 63.22 | $ 66.04 | $ 52.34 | $ 44.43 | $ 43.72 | $ 38.44 | |||||
Total ReturnC,D | (3.68)% | 27.91% | 19.69% | 3.84% | 15.34% | 9.30% | |||||
Ratios to Average Net AssetsA,E | |||||||||||
Expenses before reductions | .08% F | .08% | .08% | .08% | .08% | .08% | |||||
Expenses net of fee waivers, if any | .08% F | .08% | .08% | .08% | .08% | .08% | |||||
Expenses net of all reductions | .08% F | .08% | .08% | .08% | .08% | .08% | |||||
Net investment income (loss) | 1.20% F | 1.28% | 1.52% | 1.43% | 1.39% | 1.45% | |||||
Supplemental Data | |||||||||||
Net assets, end of period (000 omitted) | $2,794,257 | $2,846,239 | $2,015,266 | $1,557,252 | $1,252,626 | $818,710 | |||||
Portfolio turnover rateG,H | 2% I | 7% | 7% | 5% | 8% | 4% |
A | Net investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any such underlying funds is not included in the Fund's net investment income (loss) ratio. |
B | Calculated based on average shares outstanding during the period. |
C | Based on net asset value. |
D | Total returns for periods of less than one year are not annualized. |
E | Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment advisor, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur. |
F | Annualized. |
G | Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs). |
H | Portfolio turnover rate excludes securities received or delivered in-kind. |
I | Amount not annualized. |
81 | Semi-Annual Report |
Fidelity MSCI Industrials Index ETF | |||||||||||
Six
months ended January 31, 2022 (Unaudited) |
Year
ended July 31, 2021 |
Year
ended July 31, 2020 |
Year
ended July 31, 2019 |
Year
ended July 31, 2018 |
Year
ended July 31, 2017 | ||||||
Selected Per-Share Data | |||||||||||
Net asset value, beginning of period | $ 54.57 | $ 37.55 | $ 40.04 | $ 39.51 | $ 34.93 | $ 30.10 | |||||
Income from Investment Operations | |||||||||||
Net investment income (loss)A,B | 0.33 | 0.61 | 0.69 | 0.70 | 0.61 | 0.61 | |||||
Net realized and unrealized gain (loss) | (1.94) | 17.00 | (2.48) | 0.51 | 4.62 | 4.79 | |||||
Total from investment operations | (1.61) | 17.61 | (1.79) | 1.21 | 5.23 | 5.40 | |||||
Distributions from net investment income | (0.32) | (0.59) | (0.70) | (0.68) | (0.65) | (0.57) | |||||
Total distributions | (0.32) | (0.59) | (0.70) | (0.68) | (0.65) | (0.57) | |||||
Net asset value, end of period | $ 52.64 | $ 54.57 | $ 37.55 | $ 40.04 | $ 39.51 | $ 34.93 | |||||
Total ReturnC,D | (2.97)% | 47.17% | (4.34)% | 3.23% | 15.08% | 18.08% | |||||
Ratios to Average Net AssetsA,E | |||||||||||
Expenses before reductions | .08% F | .08% | .08% | .08% | .08% | .08% | |||||
Expenses net of fee waivers, if any | .08% F | .08% | .08% | .08% | .08% | .08% | |||||
Expenses net of all reductions | .08% F | .08% | .08% | .08% | .08% | .08% | |||||
Net investment income (loss) | 1.19% F | 1.24% | 1.80% | 1.84% | 1.61% | 1.85% | |||||
Supplemental Data | |||||||||||
Net assets, end of period (000 omitted) | $839,619 | $862,271 | $347,297 | $454,471 | $499,824 | $354,586 | |||||
Portfolio turnover rateG,H | 3% I | 5% | 4% | 5% | 5% | 5% |
A | Net investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any such underlying funds is not included in the Fund's net investment income (loss) ratio. |
B | Calculated based on average shares outstanding during the period. |
C | Based on net asset value. |
D | Total returns for periods of less than one year are not annualized. |
E | Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment advisor, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur. |
F | Annualized. |
G | Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs). |
H | Portfolio turnover rate excludes securities received or delivered in-kind. |
I | Amount not annualized. |
Semi-Annual Report | 82 |
Fidelity MSCI Information Technology Index ETF | |||||||||||
Six
months ended January 31, 2022 (Unaudited) |
Year
ended July 31, 2021 |
Year
ended July 31, 2020 |
Year
ended July 31, 2019 |
Year
ended July 31, 2018 |
Year
ended July 31, 2017 | ||||||
Selected Per-Share Data | |||||||||||
Net asset value, beginning of period | $ 121.70 | $ 87.25 | $ 64.53 | $ 56.36 | $ 44.50 | $ 34.93 | |||||
Income from Investment Operations | |||||||||||
Net investment income (loss)A,B | 0.41 | 0.79 | 0.87 | 0.70 | 0.53 | 0.48 | |||||
Net realized and unrealized gain (loss) | 3.28 | 34.45 | 22.70 | 8.17 | 11.85 | 9.54 | |||||
Total from investment operations | 3.69 | 35.24 | 23.57 | 8.87 | 12.38 | 10.02 | |||||
Distributions from net investment income | (0.45) | (0.79) | (0.85) | (0.70) | (0.52) | (0.45) | |||||
Total distributions | (0.45) | (0.79) | (0.85) | (0.70) | (0.52) | (0.45) | |||||
Net asset value, end of period | $ 124.94 | $ 121.70 | $ 87.25 | $ 64.53 | $ 56.36 | $ 44.50 | |||||
Total ReturnC,D | 3.02% | 40.57% | 36.99% | 15.94% | 27.92% | 28.86% | |||||
Ratios to Average Net AssetsA,E | |||||||||||
Expenses before reductions | .08% F | .08% | .08% | .08% | .08% | .08% | |||||
Expenses net of fee waivers, if any | .08% F | .08% | .08% | .08% | .08% | .08% | |||||
Expenses net of all reductions | .08% F | .08% | .08% | .08% | .08% | .08% | |||||
Net investment income (loss) | .65% F | .76% | 1.21% | 1.22% | 1.02% | 1.19% | |||||
Supplemental Data | |||||||||||
Net assets, end of period (000 omitted) | $6,690,310 | $6,206,889 | $4,288,256 | $2,571,364 | $2,223,254 | $1,010,043 | |||||
Portfolio turnover rateG,H | 2% I | 3% | 5% | 18% | 4% | 6% |
A | Net investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any such underlying funds is not included in the Fund's net investment income (loss) ratio. |
B | Calculated based on average shares outstanding during the period. |
C | Based on net asset value. |
D | Total returns for periods of less than one year are not annualized. |
E | Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment advisor, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur. |
F | Annualized. |
G | Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs). |
H | Portfolio turnover rate excludes securities received or delivered in-kind. |
I | Amount not annualized. |
83 | Semi-Annual Report |
Fidelity MSCI Materials Index ETF | |||||||||||
Six
months ended January 31, 2022 (Unaudited) |
Year
ended July 31, 2021 |
Year
ended July 31, 2020 |
Year
ended July 31, 2019 |
Year
ended July 31, 2018 |
Year
ended July 31, 2017 | ||||||
Selected Per-Share Data | |||||||||||
Net asset value, beginning of period | $ 46.91 | $ 32.90 | $ 32.63 | $ 34.70 | $ 31.63 | $ 27.71 | |||||
Income from Investment Operations | |||||||||||
Net investment income (loss)A,B | 0.37 | 0.71 | 0.65 | 0.65 | 0.55 | 0.57 | |||||
Net realized and unrealized gain (loss) | (0.07) | 13.98 | 0.30 | (2.08) | 3.09 | 3.87 | |||||
Total from investment operations | 0.30 | 14.69 | 0.95 | (1.43) | 3.64 | 4.44 | |||||
Distributions from net investment income | (0.38) | (0.68) | (0.68) | (0.64) | (0.57) | (0.52) | |||||
Total distributions | (0.38) | (0.68) | (0.68) | (0.64) | (0.57) | (0.52) | |||||
Net asset value, end of period | $ 46.83 | $ 46.91 | $ 32.90 | $ 32.63 | $ 34.70 | $ 31.63 | |||||
Total ReturnC,D | 0.66% | 45.01% | 3.28% | (4.02)% | 11.54% | 16.17% | |||||
Ratios to Average Net AssetsA,E | |||||||||||
Expenses before reductions | .08% F | .08% | .08% | .08% | .08% | .08% | |||||
Expenses net of fee waivers, if any | .08% F | .08% | .08% | .08% | .08% | .08% | |||||
Expenses net of all reductions | .08% F | .08% | .08% | .08% | .08% | .08% | |||||
Net investment income (loss) | 1.56% F | 1.66% | 2.08% | 2.05% | 1.60% | 1.93% | |||||
Supplemental Data | |||||||||||
Net assets, end of period (000 omitted) | $517,509 | $544,137 | $164,486 | $199,043 | $265,428 | $211,931 | |||||
Portfolio turnover rateG,H | 2% I | 4% | 3% | 12% | 10% | 7% |
A | Net investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any such underlying funds is not included in the Fund's net investment income (loss) ratio. |
B | Calculated based on average shares outstanding during the period. |
C | Based on net asset value. |
D | Total returns for periods of less than one year are not annualized. |
E | Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment advisor, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur. |
F | Annualized. |
G | Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs). |
H | Portfolio turnover rate excludes securities received or delivered in-kind. |
I | Amount not annualized. |
Semi-Annual Report | 84 |
Fidelity MSCI Real Estate Index ETF | |||||||||||
Six
months ended January 31, 2022 (Unaudited) |
Year
ended July 31, 2021 |
Year
ended July 31, 2020 |
Year
ended July 31, 2019 |
Year
ended July 31, 2018 |
Year
ended July 31, 2017 | ||||||
Selected Per-Share Data | |||||||||||
Net asset value, beginning of period | $ 31.75 | $ 24.23 | $ 26.58 | $ 24.69 | $ 24.53 | $ 25.83 | |||||
Income from Investment Operations | |||||||||||
Net investment income (loss)A,B | 0.46 | 0.58 | 0.67 | 1.05 | 0.76 | 0.68 | |||||
Net realized and unrealized gain (loss) | 0.09 C | 7.83 | (2.13) | 2.08 | 0.32 | (1.12) | |||||
Total from investment operations | 0.55 | 8.41 | (1.46) | 3.13 | 1.08 | (0.44) | |||||
Distributions from net investment income | (0.42) | (0.89) | (0.68) | (1.24) | (0.92) | (0.86) | |||||
Return of capital | — | — | (0.21) | — | — | — | |||||
Total distributions | (0.42) | (0.89) | (0.89) | (1.24) | (0.92) | (0.86) | |||||
Net asset value, end of period | $ 31.88 | $ 31.75 | $ 24.23 | $ 26.58 | $ 24.69 | $ 24.53 | |||||
Total ReturnD,E | 1.68% | 35.58% | (5.27)% | 13.19% | 4.53% | (1.53)% | |||||
Ratios to Average Net AssetsA,F | |||||||||||
Expenses before reductions | .08% G | .08% | .08% | .08% | .08% | .08% | |||||
Expenses net of fee waivers, if any | .08% G | .08% | .08% | .08% | .08% | .08% | |||||
Expenses net of all reductions | .08% G | .08% | .08% | .08% | .08% | .08% | |||||
Net investment income (loss) | 2.88% G | 2.16% | 2.62% | 4.20% | 3.15% | 2.85% | |||||
Supplemental Data | |||||||||||
Net assets, end of period (000 omitted) | $2,148,504 | $1,784,615 | $1,066,154 | $844,003 | $502,347 | $392,538 | |||||
Portfolio turnover rateH,I | 6% J | 8% | 9% | 10% | 8% | 17% |
A | Net investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any such underlying funds is not included in the Fund's net investment income (loss) ratio. |
B | Calculated based on average shares outstanding during the period. |
C | The amount shown for a share outstanding does not correspond with the aggregate net gain (loss) on investments for the period due to the timing of share transactions in relation to fluctuating market values of the investments of a Fund. |
D | Based on net asset value. |
E | Total returns for periods of less than one year are not annualized. |
F | Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment advisor, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur. |
G | Annualized. |
H | Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs). |
I | Portfolio turnover rate excludes securities received or delivered in-kind. |
J | Amount not annualized. |
85 | Semi-Annual Report |
Fidelity MSCI Utilities Index ETF | |||||||||||
Six
months ended January 31, 2022 (Unaudited) |
Year
ended July 31, 2021 |
Year
ended July 31, 2020 |
Year
ended July 31, 2019 |
Year
ended July 31, 2018 |
Year
ended July 31, 2017 | ||||||
Selected Per-Share Data | |||||||||||
Net asset value, beginning of period | $ 42.63 | $ 39.11 | $ 39.21 | $ 34.85 | $ 34.64 | $ 33.57 | |||||
Income from Investment Operations | |||||||||||
Net investment income (loss)A,B | 0.63 | 1.21 | 1.23 | 1.16 | 1.10 | 1.06 | |||||
Net realized and unrealized gain (loss) | 2.09 | 3.56 | (0.09) | 4.32 | 0.20 | 1.09 | |||||
Total from investment operations | 2.72 | 4.77 | 1.14 | 5.48 | 1.30 | 2.15 | |||||
Distributions from net investment income | (0.61) | (1.25) | (1.24) | (1.12) | (1.09) | (1.08) | |||||
Total distributions | (0.61) | (1.25) | (1.24) | (1.12) | (1.09) | (1.08) | |||||
Net asset value, end of period | $ 44.74 | $ 42.63 | $ 39.11 | $ 39.21 | $ 34.85 | $ 34.64 | |||||
Total ReturnC,D | 6.44% | 12.46% | 3.13% | 15.93% | 3.83% | 6.61% | |||||
Ratios to Average Net AssetsA,E | |||||||||||
Expenses before reductions | .08% F | .08% | .08% | .08% | .08% | .08% | |||||
Expenses net of fee waivers, if any | .08% F | .08% | .08% | .08% | .08% | .08% | |||||
Expenses net of all reductions | .08% F | .08% | .08% | .08% | .08% | .08% | |||||
Net investment income (loss) | 2.90% F | 2.96% | 3.06% | 3.11% | 3.21% | 3.22% | |||||
Supplemental Data | |||||||||||
Net assets, end of period (000 omitted) | $1,223,595 | $1,076,292 | $844,807 | $733,190 | $336,273 | $277,149 | |||||
Portfolio turnover rateG,H | 1% I | 5% | 5% | 7% | 6% | 6% |
A | Net investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any such underlying funds is not included in the Fund's net investment income (loss) ratio. |
B | Calculated based on average shares outstanding during the period. |
C | Based on net asset value. |
D | Total returns for periods of less than one year are not annualized. |
E | Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment advisor, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur. |
F | Annualized. |
G | Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs). |
H | Portfolio turnover rate excludes securities received or delivered in-kind. |
I | Amount not annualized. |
Semi-Annual Report | 86 |
87 | Semi-Annual Report |
Tax cost | Gross
unrealized appreciation |
Gross
unrealized depreciation |
Net
unrealized appreciation (depreciation) | |
Fidelity MSCI Communication Services Index ETF | $ 699,408,710 | $ 140,260,330 | $ (51,036,542) | $ 89,223,788 |
Fidelity MSCI Consumer Discretionary Index ETF | 1,340,231,350 | 279,672,341 | (46,451,051) | 233,221,290 |
Fidelity MSCI Consumer Staples Index ETF | 834,724,822 | 159,523,089 | (30,842,822) | 128,680,267 |
Fidelity MSCI Energy Index ETF | 1,031,710,231 | 273,482,011 | (76,088,372) | 197,393,639 |
Semi-Annual Report | 88 |
Tax cost | Gross
unrealized appreciation |
Gross
unrealized depreciation |
Net
unrealized appreciation (depreciation) | |
Fidelity MSCI Financials Index ETF | $ 1,598,827,669 | $ 363,988,478 | $ (31,521,501) | $ 332,466,977 |
Fidelity MSCI Health Care Index ETF | 2,182,155,381 | 738,884,319 | (130,853,809) | 608,030,510 |
Fidelity MSCI Industrials Index ETF | 745,434,982 | 149,971,285 | (56,185,830) | 93,785,455 |
Fidelity MSCI Information Technology Index ETF | 3,673,066,033 | 3,106,158,399 | (91,552,272) | 3,014,606,127 |
Fidelity MSCI Materials Index ETF | 497,940,941 | 42,617,991 | (22,649,734) | 19,968,257 |
Fidelity MSCI Real Estate Index ETF | 1,836,054,980 | 377,434,511 | (66,734,836) | 310,699,675 |
Fidelity MSCI Utilities Index ETF | 1,144,915,452 | 98,333,374 | (20,277,083) | 78,056,291 |
No-expiration
Short-term |
No-expiration
Long-term |
Total
capital loss carryforward | |
Fidelity MSCI Communication Services Index ETF | $ (11,061,146) | $ (19,794,881) | $ (30,856,027) |
Fidelity MSCI Consumer Discretionary Index ETF | — | (4,819,028) | (4,819,028) |
Fidelity MSCI Consumer Staples Index ETF | — | (10,678,975) | (10,678,975) |
Fidelity MSCI Energy Index ETF | (8,042,346) | (100,828,687) | (108,871,033) |
Fidelity MSCI Financials Index ETF | (9,463,536) | (19,878,838) | (29,342,374) |
Fidelity MSCI Health Care Index ETF | — | (16,536,303) | (16,536,303) |
Fidelity MSCI Industrials Index ETF | (2,846,338) | (9,667,208) | (12,513,546) |
Fidelity MSCI Information Technology Index ETF | (32,507,132) | — | (32,507,132) |
Fidelity MSCI Materials Index ETF | (3,697,201) | (6,550,789) | (10,247,990) |
Fidelity MSCI Real Estate Index ETF | (15,726,584) | (14,896,815) | (30,623,399) |
Fidelity MSCI Utilities Index ETF | (10,426,370) | (13,155,761) | (23,582,131) |
89 | Semi-Annual Report |
Purchases ($) | Sales ($) | |
Fidelity MSCI Communication Services Index ETF | 111,661,346 | 111,195,791 |
Fidelity MSCI Consumer Discretionary Index ETF | 36,774,328 | 36,066,167 |
Fidelity MSCI Consumer Staples Index ETF | 40,091,670 | 39,739,914 |
Fidelity MSCI Energy Index ETF | 49,946,590 | 48,890,986 |
Fidelity MSCI Financials Index ETF | 43,865,612 | 41,963,415 |
Fidelity MSCI Health Care Index ETF | 54,342,146 | 56,106,228 |
Fidelity MSCI Industrials Index ETF | 22,817,982 | 23,484,630 |
Fidelity MSCI Information Technology Index ETF | 117,254,742 | 115,461,946 |
Fidelity MSCI Materials Index ETF | 11,133,154 | 10,898,381 |
Fidelity MSCI Real Estate Index ETF | 134,085,274 | 128,409,416 |
Fidelity MSCI Utilities Index ETF | 16,902,110 | 16,367,730 |
In-kind
Subscriptions ($) |
In-kind
Redemptions ($) | |
Fidelity MSCI Communication Services Index ETF | 78,964,561 | 92,107,299 |
Fidelity MSCI Consumer Discretionary Index ETF | 311,547,595 | 327,883,068 |
Fidelity MSCI Consumer Staples Index ETF | 121,262,438 | 215,564,180 |
Fidelity MSCI Energy Index ETF | 161,654,485 | 107,053,486 |
Fidelity MSCI Financials Index ETF | 201,059,316 | 98,136,073 |
Fidelity MSCI Health Care Index ETF | 219,579,046 | 142,371,388 |
Fidelity MSCI Industrials Index ETF | 65,890,886 | 56,068,055 |
Fidelity MSCI Information Technology Index ETF | 420,247,684 | 83,809,469 |
Fidelity MSCI Materials Index ETF | 60,733,014 | 83,786,457 |
Fidelity MSCI Real Estate Index ETF | 410,922,843 | 50,619,469 |
Fidelity MSCI Utilities Index ETF | 224,617,765 | 133,474,055 |
Semi-Annual Report | 90 |
91 | Semi-Annual Report |
Annualized
Expense RatioA |
Beginning
Account Value August 1, 2021 |
Ending
Account Value January 31, 2022 |
Expenses
Paid During PeriodB August 1, 2021 to January 31, 2022 | |
Fidelity MSCI Communication Services Index ETF | 0.08% | |||
Actual | $ 1,000.00 | $ 884.10 | $ 0.38 | |
Hypothetical C | $ 1,000.00 | $ 1,024.80 | $ 0.41 | |
Fidelity MSCI Consumer Discretionary Index ETF | 0.08% | |||
Actual | $ 1,000.00 | $ 983.00 | $ 0.40 | |
Hypothetical C | $ 1,000.00 | $ 1,024.80 | $ 0.41 | |
Fidelity MSCI Consumer Staples Index ETF | 0.08% | |||
Actual | $ 1,000.00 | $ 1,068.20 | $ 0.42 | |
Hypothetical C | $ 1,000.00 | $ 1,024.80 | $ 0.41 | |
Fidelity MSCI Energy Index ETF | 0.08% | |||
Actual | $ 1,000.00 | $ 1,349.80 | $ 0.47 | |
Hypothetical C | $ 1,000.00 | $ 1,024.80 | $ 0.41 | |
Fidelity MSCI Financials Index ETF | 0.08% | |||
Actual | $ 1,000.00 | $ 1,076.30 | $ 0.42 | |
Hypothetical C | $ 1,000.00 | $ 1,024.80 | $ 0.41 | |
Fidelity MSCI Health Care Index ETF | 0.08% | |||
Actual | $ 1,000.00 | $ 963.20 | $ 0.40 | |
Hypothetical C | $ 1,000.00 | $ 1,024.80 | $ 0.41 | |
Fidelity MSCI Industrials Index ETF | 0.08% | |||
Actual | $ 1,000.00 | $ 970.30 | $ 0.40 | |
Hypothetical C | $ 1,000.00 | $ 1,024.80 | $ 0.41 |
Semi-Annual Report | 92 |
Annualized
Expense RatioA |
Beginning
Account Value August 1, 2021 |
Ending
Account Value January 31, 2022 |
Expenses
Paid During PeriodB August 1, 2021 to January 31, 2022 | |
Fidelity MSCI Information Technology Index ETF | 0.08% | |||
Actual | $ 1,000.00 | $ 1,030.20 | $ 0.41 | |
Hypothetical C | $ 1,000.00 | $ 1,024.80 | $ 0.41 | |
Fidelity MSCI Materials Index ETF | 0.08% | |||
Actual | $ 1,000.00 | $ 1,006.60 | $ 0.40 | |
Hypothetical C | $ 1,000.00 | $ 1,024.80 | $ 0.41 | |
Fidelity MSCI Real Estate Index ETF | 0.08% | |||
Actual | $ 1,000.00 | $ 1,016.80 | $ 0.41 | |
Hypothetical C | $ 1,000.00 | $ 1,024.80 | $ 0.41 | |
Fidelity MSCI Utilities Index ETF | 0.08% | |||
Actual | $ 1,000.00 | $ 1,064.40 | $ 0.42 | |
Hypothetical C | $ 1,000.00 | $ 1,024.80 | $ 0.41 |
A | Annualized expense ratio reflects expenses net of applicable fee waivers. |
B | Expenses are equal to the annualized expense ratio, multiplied by the average account value over the period, multiplied by 184/365 (to reflect the one-half year period). The fees and expenses of any Underlying Funds are not included in each annualized expense ratio. |
C | 5% return per year before expenses. |
93 | Semi-Annual Report |