Contents
Average
Annual Total Returns | |||
Periods
ended July 31, 2023
|
Past
1
year |
Past
5
years |
Life
of
Fund
|
Fidelity®
Dividend ETF for Rising Rates - NAV A |
8.17% |
9.73% |
11.25% |
Fidelity®
Dividend ETF for Rising Rates - Market Price B |
7.87% |
9.67% |
11.29% |
Fidelity
Dividend Index for Rising Rates℠ A |
8.47% |
10.07% |
11.62% |
Russell
1000® Index A |
12.95% |
11.92% |
13.38% |
$10,000 Over Life of Fund |
Let's
say hypothetically that $10,000 was invested in Fidelity® Dividend ETF for
Rising Rates - NAV, on September 12, 2016, when the fund
started.
The
chart shows how the value of your investment would have changed, and also
shows how the Fidelity Dividend Index for Rising Rates℠ and Russell 1000®
Index performed over the same period. |
![]() |
Top
Holdings (% of Fund's net
assets) | ||
Apple,
Inc. |
8.7 |
|
Microsoft
Corp. |
7.5 |
|
Broadcom,
Inc. |
2.4 |
|
UnitedHealth
Group, Inc. |
2.2 |
|
Johnson
& Johnson |
2.1 |
|
Visa,
Inc. Class A |
2.0 |
|
JPMorgan
Chase & Co. |
2.0 |
|
Cisco
Systems, Inc. |
1.6 |
|
Merck
& Co., Inc. |
1.6 |
|
AbbVie,
Inc. |
1.6 |
|
31.7 |
||
Market
Sectors (% of Fund's net assets) | ||
Information
Technology |
27.9 |
|
Financials |
14.1 |
|
Health
Care |
13.4 |
|
Consumer
Discretionary |
9.4 |
|
Industrials |
8.8 |
|
Consumer
Staples |
6.8 |
|
Communication
Services |
6.2 |
|
Energy |
4.6 |
|
Materials |
2.8 |
|
Real
Estate |
2.8 |
|
Utilities |
2.6 |
|
Asset
Allocation (% of Fund's net assets)
|
![]() |
Futures - 0.5% |
Common
Stocks - 99.4% | |||
Shares |
Value
($)
| ||
COMMUNICATION
SERVICES - 6.2% |
|||
Diversified
Telecommunication Services - 1.2% |
|||
AT&T,
Inc. |
199,741 |
2,900,239 | |
Verizon
Communications, Inc. |
107,100 |
3,649,968 | |
6,550,207 | |||
Entertainment
- 0.9% |
|||
Electronic
Arts, Inc. |
21,370 |
2,913,800 | |
Warner
Music Group Corp. Class A |
56,635 |
1,786,834 | |
4,700,634 | |||
Media
- 4.1% |
|||
Cable
One, Inc. (a) |
2,494 |
1,805,506 | |
Comcast
Corp. Class A |
109,533 |
4,957,464 | |
Fox
Corp. Class A |
64,827 |
2,168,463 | |
Interpublic
Group of Companies, Inc. |
58,463 |
2,001,188 | |
News
Corp. Class A |
102,815 |
2,037,793 | |
Nexstar
Broadcasting Group, Inc. Class A |
10,201 |
1,904,731 | |
Omnicom
Group, Inc. |
25,237 |
2,135,555 | |
Paramount
Global Class B (a) |
88,648 |
1,421,027 | |
TEGNA,
Inc. |
104,208 |
1,761,115 | |
The
New York Times Co. Class A |
58,346 |
2,378,183 | |
22,571,025 | |||
TOTAL COMMUNICATION
SERVICES |
33,821,866 | ||
CONSUMER
DISCRETIONARY - 9.4% |
|||
Automobiles
- 0.8% |
|||
Ford
Motor Co. |
332,630 |
4,394,042 | |
Broadline
Retail - 0.6% |
|||
Kohl's
Corp. (a) |
118,542 |
3,372,520 | |
Hotels,
Restaurants & Leisure - 2.3% |
|||
McDonald's
Corp. |
25,233 |
7,398,316 | |
Starbucks
Corp. |
52,317 |
5,313,838 | |
12,712,154 | |||
Household
Durables - 1.3% |
|||
Newell
Brands, Inc. |
247,075 |
2,757,357 | |
Vistry
Group PLC |
408,886 |
4,153,506 | |
6,910,863 | |||
Specialty
Retail - 3.4% |
|||
Best
Buy Co., Inc. |
46,342 |
3,848,703 | |
Lowe's
Companies, Inc. |
26,538 |
6,217,057 | |
The
Home Depot, Inc. |
25,832 |
8,623,755 | |
18,689,515 | |||
Textiles,
Apparel & Luxury Goods - 1.0% |
|||
NIKE,
Inc. Class B |
48,226 |
5,323,668 | |
TOTAL CONSUMER
DISCRETIONARY |
51,402,762 | ||
CONSUMER
STAPLES - 6.8% |
|||
Beverages
- 2.4% |
|||
PepsiCo,
Inc. |
36,550 |
6,851,663 | |
The
Coca-Cola Co. |
103,157 |
6,388,513 | |
13,240,176 | |||
Consumer
Staples Distribution & Retail - 0.7% |
|||
Target
Corp. |
28,351 |
3,869,061 | |
Food
Products - 0.5% |
|||
Tyson
Foods, Inc. Class A |
49,829 |
2,776,472 | |
Household
Products - 1.5% |
|||
Procter
& Gamble Co. |
53,654 |
8,386,120 | |
Tobacco
- 1.7% |
|||
Altria
Group, Inc. |
88,257 |
4,008,633 | |
Philip
Morris International, Inc. |
50,207 |
5,006,642 | |
9,015,275 | |||
TOTAL CONSUMER STAPLES |
37,287,104 | ||
ENERGY
- 4.6% |
|||
Oil,
Gas & Consumable Fuels - 4.6% |
|||
Chevron
Corp. |
33,159 |
5,426,802 | |
ConocoPhillips
Co. |
30,298 |
3,566,681 | |
Coterra
Energy, Inc. |
69,929 |
1,925,845 | |
Devon
Energy Corp. |
32,974 |
1,780,596 | |
EOG
Resources, Inc. |
19,806 |
2,624,889 | |
Exxon
Mobil Corp. |
69,893 |
7,495,325 | |
Pioneer
Natural Resources Co. |
9,918 |
2,238,195 | |
25,058,333 | |||
FINANCIALS
- 14.1% |
|||
Banks
- 8.2% |
|||
Bank
of America Corp. |
208,781 |
6,680,992 | |
Citigroup,
Inc. |
104,601 |
4,985,284 | |
ING
Groep NV (Certificaten Van Aandelen) |
292,545 |
4,283,404 | |
Intesa
Sanpaolo SpA |
1,513,843 |
4,388,031 | |
JPMorgan
Chase & Co. |
69,701 |
11,009,970 | |
KBC
Group NV |
53,831 |
4,059,634 | |
Truist
Financial Corp. |
99,020 |
3,289,444 | |
Wells
Fargo & Co. |
138,649 |
6,400,038 | |
45,096,797 | |||
Capital
Markets - 1.0% |
|||
Blackstone,
Inc. |
50,344 |
5,275,548 | |
Financial
Services - 2.8% |
|||
The
Western Union Co. |
384,942 |
4,688,594 | |
Visa,
Inc. Class A |
46,347 |
11,018,072 | |
15,706,666 | |||
Insurance
- 1.5% |
|||
American
Financial Group, Inc. |
31,148 |
3,787,908 | |
Old
Republic International Corp. |
158,006 |
4,356,225 | |
8,144,133 | |||
Mortgage
Real Estate Investment Trusts - 0.6% |
|||
Annaly
Capital Management, Inc. |
175,121 |
3,518,181 | |
TOTAL FINANCIALS |
77,741,325 | ||
HEALTH
CARE - 13.4% |
|||
Biotechnology
- 2.9% |
|||
AbbVie,
Inc. |
60,390 |
9,033,136 | |
Amgen,
Inc. |
28,517 |
6,677,256 | |
15,710,392 | |||
Health
Care Equipment & Supplies - 1.2% |
|||
Medtronic
PLC |
77,881 |
6,834,837 | |
Health
Care Providers & Services - 2.2% |
|||
UnitedHealth
Group, Inc. |
23,960 |
12,132,625 | |
Pharmaceuticals
- 7.1% |
|||
Bristol-Myers
Squibb Co. |
100,987 |
6,280,382 | |
GSK
PLC |
297,078 |
5,292,431 | |
Johnson
& Johnson |
67,544 |
11,315,646 | |
Merck
& Co., Inc. |
85,362 |
9,103,857 | |
Pfizer,
Inc. |
195,002 |
7,031,772 | |
39,024,088 | |||
TOTAL HEALTH CARE |
73,701,942 | ||
INDUSTRIALS
- 8.8% |
|||
Aerospace
& Defense - 0.9% |
|||
Raytheon
Technologies Corp. |
57,467 |
5,053,073 | |
Air
Freight & Logistics - 1.0% |
|||
United
Parcel Service, Inc. Class B |
28,919 |
5,411,612 | |
Ground
Transportation - 1.1% |
|||
Union
Pacific Corp. |
25,380 |
5,888,668 | |
Industrial
Conglomerates - 2.3% |
|||
3M
Co. |
37,611 |
4,193,627 | |
Honeywell
International, Inc. |
26,664 |
5,176,282 | |
Jardine
Matheson Holdings Ltd. |
67,028 |
3,309,843 | |
12,679,752 | |||
Machinery
- 1.0% |
|||
Caterpillar,
Inc. |
21,908 |
5,809,344 | |
Marine
Transportation - 1.9% |
|||
A.P.
Moller - Maersk A/S Series B |
1,525 |
3,143,946 | |
Mitsui
OSK Lines Ltd. |
142,100 |
3,675,517 | |
Nippon
Yusen KK |
146,700 |
3,560,118 | |
10,379,581 | |||
Professional
Services - 0.6% |
|||
Randstad
NV |
54,317 |
3,190,790 | |
TOTAL INDUSTRIALS |
48,412,820 | ||
INFORMATION
TECHNOLOGY - 27.9% |
|||
Communications
Equipment - 1.6% |
|||
Cisco
Systems, Inc. |
167,417 |
8,712,381 | |
Electronic
Equipment, Instruments & Components - 1.0% |
|||
Corning,
Inc. |
161,126 |
5,468,616 | |
IT
Services - 1.4% |
|||
IBM
Corp. |
52,542 |
7,575,506 | |
Semiconductors
& Semiconductor Equipment - 6.6% |
|||
Broadcom,
Inc. |
14,606 |
13,125,682 | |
Intel
Corp. |
237,940 |
8,511,114 | |
Qualcomm,
Inc. |
55,688 |
7,360,283 | |
Texas
Instruments, Inc. |
42,099 |
7,577,820 | |
36,574,899 | |||
Software
- 7.5% |
|||
Microsoft
Corp. |
123,383 |
41,446,817 | |
Technology
Hardware, Storage & Peripherals - 9.8% |
|||
Apple,
Inc. |
242,303 |
47,600,427 | |
HP,
Inc. |
189,741 |
6,229,197 | |
53,829,624 | |||
TOTAL INFORMATION
TECHNOLOGY |
153,607,843 | ||
MATERIALS
- 2.8% |
|||
Chemicals
- 1.9% |
|||
Air
Products & Chemicals, Inc. |
6,976 |
2,129,982 | |
Dow,
Inc. |
29,013 |
1,638,364 | |
Linde
PLC |
10,301 |
4,024,292 | |
LyondellBasell
Industries NV Class A |
15,519 |
1,534,208 | |
The
Mosaic Co. |
27,462 |
1,119,351 | |
10,446,197 | |||
Containers
& Packaging - 0.7% |
|||
Amcor
PLC |
115,413 |
1,184,137 | |
International
Paper Co. |
32,780 |
1,182,047 | |
Packaging
Corp. of America |
9,256 |
1,419,408 | |
3,785,592 | |||
Metals
& Mining - 0.2% |
|||
Newmont
Corp. (a) |
33,021 |
1,417,261 | |
TOTAL MATERIALS |
15,649,050 | ||
REAL
ESTATE - 2.8% |
|||
Equity
Real Estate Investment Trusts (REITs) - 2.8% |
|||
American
Tower Corp. |
11,137 |
2,119,482 | |
Crown
Castle International Corp. |
13,005 |
1,408,311 | |
Healthcare
Trust of America, Inc. |
54,111 |
1,056,788 | |
Medical
Properties Trust, Inc. (a) |
91,390 |
922,125 | |
Omega
Healthcare Investors, Inc. |
38,985 |
1,243,622 | |
Prologis
(REIT), Inc. |
20,696 |
2,581,826 | |
Public
Storage |
5,622 |
1,583,999 | |
Realty
Income Corp. |
24,453 |
1,490,899 | |
Simon
Property Group, Inc. |
12,647 |
1,575,816 | |
Weyerhaeuser
Co. |
40,180 |
1,368,531 | |
15,351,399 | |||
UTILITIES
- 2.6% |
|||
Electric
Utilities - 2.2% |
|||
American
Electric Power Co., Inc. |
19,028 |
1,612,433 | |
Duke
Energy Corp. |
21,682 |
2,029,869 | |
Edison
International |
21,690 |
1,560,812 | |
NextEra
Energy, Inc. |
42,325 |
3,102,423 | |
NRG
Energy, Inc. |
35,486 |
1,348,113 | |
Southern
Co. |
31,460 |
2,275,816 | |
11,929,466 | |||
Independent
Power and Renewable Electricity Producers - 0.1% |
|||
Clearway
Energy, Inc. Class C |
34,377 |
907,897 | |
Multi-Utilities
- 0.3% |
|||
Dominion
Energy, Inc. |
29,699 |
1,590,381 | |
TOTAL UTILITIES |
14,427,744 | ||
TOTAL
COMMON STOCKS
(Cost
$502,490,537) |
546,462,188 | ||
Money
Market Funds - 1.5% | |||
Shares |
Value
($)
| ||
Fidelity
Cash Central Fund 5.32% (b) |
2,061,721 |
2,062,133 | |
Fidelity
Securities Lending Cash Central Fund 5.32% (b)(c) |
6,086,966 |
6,087,575 | |
TOTAL
MONEY MARKET FUNDS
(Cost
$8,149,708) |
8,149,708 | ||
TOTAL
INVESTMENT IN SECURITIES - 100.9%
(Cost
$510,640,245)
|
554,611,896 |
NET
OTHER ASSETS (LIABILITIES) - (0.9)% |
(5,076,195) |
NET
ASSETS - 100.0% |
549,535,701 |
Futures
Contracts | |||||
Number
of
contracts |
Expiration
Date |
Notional
Amount
($)
|
Value
($)
|
Unrealized
Appreciation/
(Depreciation)
($)
| |
Purchased |
|||||
Equity
Index Contracts |
|||||
CME
E-mini S&P 500 Index Contracts (United States) |
12 |
Sep
2023 |
2,768,700 |
153,385 |
153,385 |
The
notional amount of futures purchased as a percentage of Net Assets is
0.5% |
(a) |
Security
or a portion of the security is on loan at period end.
|
(b) |
Affiliated
fund that is generally available only to investment companies and other
accounts managed by Fidelity Investments. The rate quoted is the
annualized seven-day yield of the fund at period end. A complete unaudited
listing of the fund's holdings as of its most recent quarter end is
available upon request. In addition, each Fidelity Central Fund's
financial statements, which are not covered by the Fund's Report of
Independent Registered Public Accounting Firm, are available on the SEC's
website or upon request.
|
(c) |
Investment
made with cash collateral received from securities on loan.
|
Affiliate
|
Value,
beginning
of
period ($) |
Purchases
($) |
Sales
Proceeds
($) |
Dividend
Income
($) |
Realized
Gain
(loss) ($) |
Change
in
Unrealized
appreciation
(depreciation)
($) |
Value,
end
of
period ($) |
%
ownership,
end
of
period |
Fidelity
Cash Central Fund 5.32% |
1,664,238 |
37,620,438 |
37,222,543 |
49,256 |
- |
- |
2,062,133 |
0.0% |
Fidelity
Securities Lending Cash Central Fund 5.32% |
16,551,925 |
117,404,415 |
127,868,765 |
184,646 |
- |
- |
6,087,575 |
0.0% |
Total |
18,216,163 |
155,024,853 |
165,091,308 |
233,902 |
- |
- |
8,149,708 |
|
Valuation
Inputs at Reporting Date: | ||||
Description |
Total
($) |
Level
1 ($) |
Level
2 ($) |
Level
3 ($) |
Investments
in Securities: |
||||
Equities: |
||||
Communication
Services |
33,821,866 |
33,821,866 |
- |
- |
Consumer
Discretionary |
51,402,762 |
51,402,762 |
- |
- |
Consumer
Staples |
37,287,104 |
37,287,104 |
- |
- |
Energy |
25,058,333 |
25,058,333 |
- |
- |
Financials |
77,741,325 |
77,741,325 |
- |
- |
Health
Care |
73,701,942 |
73,701,942 |
- |
- |
Industrials |
48,412,820 |
48,412,820 |
- |
- |
Information
Technology |
153,607,843 |
153,607,843 |
- |
- |
Materials |
15,649,050 |
15,649,050 |
- |
- |
Real
Estate |
15,351,399 |
15,351,399 |
- |
- |
Utilities |
14,427,744 |
14,427,744 |
- |
- |
Money Market
Funds |
8,149,708 |
8,149,708 |
- |
- |
Total Investments in Securities: |
554,611,896 |
554,611,896 |
- |
- |
Derivative
Instruments: |
||||
Assets |
||||
Futures
Contracts |
153,385 |
153,385 |
- |
- |
Total
Assets |
153,385 |
153,385 |
- |
- |
Total Derivative Instruments: |
153,385 |
153,385 |
- |
- |
Primary
Risk Exposure / Derivative Type
|
Value | |
Asset
($) |
Liability
($) | |
Equity
Risk |
||
Futures
Contracts (a) |
153,385 |
0 |
Total
Equity Risk |
153,385 |
0 |
Total
Value of Derivatives |
153,385 |
0 |
Statement
of Assets and Liabilities | ||||
July
31, 2023 | ||||
Assets
|
||||
Investment
in securities, at value (including securities loaned of $5,983,178) - See accompanying
schedule: |
||||
Unaffiliated issuers (cost
$502,490,537) |
$ |
546,462,188 |
||
Fidelity Central Funds (cost
$8,149,708) |
8,149,708 |
|||
Total
Investment in Securities (cost $510,640,245) |
$ |
554,611,896 | ||
Segregated
cash with brokers for derivative instruments |
134,400 | |||
Foreign
currency held at value (cost $182,326) |
183,933 | |||
Dividends
receivable |
811,244 | |||
Distributions
receivable from Fidelity Central Funds |
7,729 | |||
Receivable
for daily variation margin on futures contracts |
4,800 | |||
Total assets |
555,754,002 | |||
Liabilities |
||||
Accrued
management fee |
$ |
130,726 |
||
Collateral
on securities loaned |
6,087,575 |
|||
Total
Liabilities |
6,218,301 | |||
Net
Assets |
$ |
549,535,701 | ||
Net
Assets consist of: |
||||
Paid
in capital |
$ |
565,839,189 | ||
Total
accumulated earnings (loss) |
(16,303,488) | |||
Net
Assets |
$ |
549,535,701 | ||
Net
Asset Value,
offering price and redemption price per share ($549,535,701 ÷ 12,750,000
shares) |
$ |
43.10 |
Statement
of Operations | ||||
Year
ended
July
31, 2023 | ||||
Investment
Income |
||||
Dividends
|
$ |
18,446,725 | ||
Income
from Fidelity Central Funds (including $184,646 from security lending)
|
233,902 | |||
Total Income |
18,680,627 | |||
Expenses |
||||
Management
fee |
$ |
1,625,282 |
||
Independent
trustees' fees and expenses |
2,921 |
|||
Interest |
1,254 |
|||
Total expenses before reductions |
1,629,457 |
|||
Expense reductions |
(183) |
|||
Total expenses after reductions |
1,629,274 | |||
Net
Investment income (loss) |
17,051,353 | |||
Realized
and Unrealized Gain (Loss) |
||||
Net
realized gain (loss) on: |
||||
Investment Securities: |
||||
Unaffiliated issuers |
(21,299,689) |
|||
Redemptions in-kind |
41,388,416 |
|||
Foreign currency transactions |
(98,236) |
|||
Futures contracts |
(157,915) |
|||
Total
net realized gain (loss) |
19,832,576 | |||
Change
in net unrealized appreciation (depreciation) on: |
||||
Investment Securities: |
||||
Unaffiliated issuers |
2,247,029 |
|||
Assets and liabilities in foreign
currencies |
57,752 |
|||
Futures contracts |
77,600 |
|||
Total
change in net unrealized appreciation (depreciation) |
2,382,381 | |||
Net
gain (loss) |
22,214,957 | |||
Net
increase (decrease) in net assets resulting from
operations |
$ |
39,266,310 |
Statement
of Changes in Net Assets | ||||
Year
ended
July
31, 2023 |
Year
ended
July
31, 2022 | |||
Increase
(Decrease) in Net Assets |
||||
Operations |
||||
Net
investment income (loss) |
$ |
17,051,353 |
$ |
14,434,863 |
Net
realized gain (loss) |
19,832,576
|
16,773,810
| ||
Change
in net unrealized appreciation (depreciation) |
2,382,381 |
(47,740,920)
| ||
Net
increase (decrease) in net assets resulting from
operations |
39,266,310
|
(16,532,247)
| ||
Distributions
to shareholders |
(16,860,450)
|
(14,425,400)
| ||
Share
transactions |
||||
Proceeds
from sales of shares |
115,557,120 |
291,688,328 | ||
Cost
of shares redeemed |
(200,570,072) |
(138,676,589) | ||
Net increase (decrease) in net assets resulting from share
transactions |
(85,012,952)
|
153,011,739
| ||
Total
increase (decrease) in net assets |
(62,607,092)
|
122,054,092
| ||
Net
Assets |
||||
Beginning
of period |
612,142,793 |
490,088,701
| ||
End
of period |
$ |
549,535,701 |
$ |
612,142,793 |
Other
Information |
||||
Shares |
||||
Sold |
2,750,000 |
6,600,000 | ||
Redeemed |
(4,900,000) |
(3,200,000) | ||
Net
increase (decrease) |
(2,150,000) |
3,400,000 | ||
Fidelity®
Dividend ETF for Rising Rates |
Years
ended July 31, |
2023
|
2022 |
2021 |
2020 |
2019 | |||||
Selected Per-Share
Data |
||||||||||
Net asset value, beginning
of period |
$ |
41.08 |
$ |
42.62 |
$ |
31.72 |
$ |
32.31 |
$ |
31.54 |
Income from Investment
Operations |
||||||||||
Net investment income (loss) A,B |
1.22
|
1.08
|
.93
|
1.01
|
1.07
| |||||
Net realized and unrealized gain (loss)
|
2.02
|
(1.54)
|
10.85
|
(.56)
|
.79
| |||||
Total from investment
operations |
3.24
|
(.46)
|
11.78
|
.45
|
1.86
| |||||
Distributions from net
investment income |
(1.22)
|
(1.08)
|
(.88)
|
(1.04)
|
(1.09)
| |||||
Total distributions |
(1.22)
|
(1.08)
|
(.88)
|
(1.04)
|
(1.09)
| |||||
Net asset value, end of
period |
$ |
43.10 |
$ |
41.08 |
$ |
42.62 |
$ |
31.72 |
$ |
32.31 |
Total Return C,D |
8.17%
|
(1.06)%
|
37.57%
|
1.86%
|
6.09%
| |||||
Ratios to Average Net Assets B,E,F |
||||||||||
Expenses before reductions
|
.29%
|
.29%
|
.29%
|
.29%
|
.29%
| |||||
Expenses net of fee
waivers, if any |
.29%
|
.29%
|
.29%
|
.29%
|
.29%
| |||||
Expenses net of all
reductions |
.29%
|
.29%
|
.29%
|
.29%
|
.29%
| |||||
Net investment income
(loss) |
3.04%
|
2.54%
|
2.44%
|
3.15%
|
3.42%
| |||||
Supplemental Data |
||||||||||
Net assets, end of period
(000 omitted) |
$ |
549,536 |
$ |
612,143 |
$ |
490,089 |
$ |
282,317 |
$ |
360,229 |
Portfolio turnover rate
G,H |
29%
|
28%
|
32%
|
35%
|
35%
|
Average
Annual Total Returns | |||
Periods
ended July 31, 2023
|
Past
1
year |
Past
5
years |
Life
of
Fund
|
Fidelity®
High Dividend ETF - NAV A |
12.22% |
10.66% |
11.49% |
Fidelity®
High Dividend ETF - Market Price B |
12.09% |
10.62% |
11.60% |
Fidelity
High Dividend Index℠ A |
12.55% |
10.98% |
11.83% |
Russell
1000® Index A |
12.95% |
11.92% |
13.38% |
$10,000 Over Life of Fund |
Let's
say hypothetically that $10,000 was invested in Fidelity® High Dividend
ETF - NAV, on September 12, 2016, when the fund started.
The
chart shows how the value of your investment would have changed, and also
shows how the Fidelity High Dividend Index℠ and Russell 1000® Index
performed over the same period. |
![]() |
Top
Holdings (% of Fund's net
assets) | ||
Apple,
Inc. |
6.4 |
|
Microsoft
Corp. |
5.6 |
|
NVIDIA
Corp. |
3.6 |
|
JPMorgan
Chase & Co. |
2.6 |
|
Procter
& Gamble Co. |
2.5 |
|
Exxon
Mobil Corp. |
2.2 |
|
PepsiCo,
Inc. |
2.2 |
|
The
Coca-Cola Co. |
2.0 |
|
Chevron
Corp. |
1.9 |
|
Philip
Morris International, Inc. |
1.7 |
|
30.7 |
||
Market
Sectors (% of Fund's net assets) | ||
Information
Technology |
23.0 |
|
Financials |
19.1 |
|
Industrials |
14.5 |
|
Consumer
Staples |
12.2 |
|
Energy |
11.0 |
|
Real
Estate |
8.6 |
|
Health
Care |
6.7 |
|
Consumer
Discretionary |
3.6 |
|
Communication
Services |
0.9 |
|
Asset
Allocation (% of Fund's net assets)
|
![]() |
Futures - 0.4% |
Common
Stocks - 99.6% | |||
Shares |
Value
($)
| ||
COMMUNICATION
SERVICES - 0.9% |
|||
Diversified
Telecommunication Services - 0.2% |
|||
AT&T,
Inc. |
92,780 |
1,347,166 | |
Verizon
Communications, Inc. |
49,690 |
1,693,435 | |
3,040,601 | |||
Entertainment
- 0.1% |
|||
Electronic
Arts, Inc. |
9,905 |
1,350,547 | |
Warner
Music Group Corp. Class A |
26,289 |
829,418 | |
2,179,965 | |||
Media
- 0.6% |
|||
Cable
One, Inc. (a) |
1,139 |
824,568 | |
Comcast
Corp. Class A |
50,417 |
2,281,873 | |
Fox
Corp. Class A |
30,048 |
1,005,106 | |
Interpublic
Group of Companies, Inc. |
27,140 |
929,002 | |
News
Corp. Class A |
47,771 |
946,821 | |
Nexstar
Broadcasting Group, Inc. Class A |
4,702 |
877,957 | |
Omnicom
Group, Inc. |
11,652 |
985,992 | |
Paramount
Global Class B (a) |
41,144 |
659,538 | |
TEGNA,
Inc. |
48,377 |
817,571 | |
The
New York Times Co. Class A |
27,075 |
1,103,577 | |
10,432,005 | |||
TOTAL COMMUNICATION
SERVICES |
15,652,571 | ||
CONSUMER
DISCRETIONARY - 3.6% |
|||
Automobiles
- 0.3% |
|||
Ford
Motor Co. |
403,460 |
5,329,707 | |
Broadline
Retail - 0.3% |
|||
Kohl's
Corp. (a) |
144,015 |
4,097,227 | |
Hotels,
Restaurants & Leisure - 0.9% |
|||
McDonald's
Corp. |
30,636 |
8,982,475 | |
Starbucks
Corp. |
63,539 |
6,453,656 | |
15,436,131 | |||
Household
Durables - 0.4% |
|||
Newell
Brands, Inc. |
300,530 |
3,353,915 | |
Vistry
Group PLC |
386,894 |
3,930,109 | |
7,284,024 | |||
Specialty
Retail - 1.3% |
|||
Best
Buy Co., Inc. |
56,199 |
4,667,327 | |
Lowe's
Companies, Inc. |
32,217 |
7,547,477 | |
The
Home Depot, Inc. |
31,358 |
10,468,555 | |
22,683,359 | |||
Textiles,
Apparel & Luxury Goods - 0.4% |
|||
NIKE,
Inc. Class B |
58,481 |
6,455,718 | |
TOTAL CONSUMER
DISCRETIONARY |
61,286,166 | ||
CONSUMER
STAPLES - 12.2% |
|||
Beverages
- 4.2% |
|||
PepsiCo,
Inc. |
196,737 |
36,880,318 | |
The
Coca-Cola Co. |
555,130 |
34,379,201 | |
71,259,519 | |||
Consumer
Staples Distribution & Retail - 0.3% |
|||
Target
Corp. |
34,390 |
4,693,203 | |
Household
Products - 2.5% |
|||
Procter
& Gamble Co. |
265,949 |
41,567,829 | |
Tobacco
- 5.2% |
|||
Altria
Group, Inc. |
576,089 |
26,165,962 | |
British
American Tobacco PLC (United Kingdom) |
476,982 |
16,051,556 | |
Imperial
Brands PLC |
731,173 |
17,305,349 | |
Philip
Morris International, Inc. |
292,736 |
29,191,634 | |
88,714,501 | |||
TOTAL CONSUMER STAPLES |
206,235,052 | ||
ENERGY
- 11.0% |
|||
Oil,
Gas & Consumable Fuels - 11.0% |
|||
Chevron
Corp. |
193,848 |
31,725,164 | |
ConocoPhillips
Co. |
232,461 |
27,365,309 | |
Coterra
Energy, Inc. |
841,308 |
23,169,622 | |
Devon
Energy Corp. |
355,552 |
19,199,808 | |
EOG
Resources, Inc. |
185,113 |
24,533,026 | |
Exxon
Mobil Corp. |
354,944 |
38,064,195 | |
Pioneer
Natural Resources Co. |
100,902 |
22,770,554 | |
186,827,678 | |||
FINANCIALS
- 19.1% |
|||
Banks
- 10.6% |
|||
Bank
of America Corp. |
900,458 |
28,814,656 | |
Citigroup,
Inc. |
499,858 |
23,823,232 | |
ING
Groep NV (Certificaten Van Aandelen) |
1,220,779 |
17,874,480 | |
Intesa
Sanpaolo SpA |
6,317,624 |
18,312,290 | |
JPMorgan
Chase & Co. |
281,692 |
44,496,068 | |
KBC
Group NV |
224,621 |
16,939,662 | |
Wells
Fargo & Co. |
623,700 |
28,789,992 | |
179,050,380 | |||
Capital
Markets - 1.5% |
|||
Blackstone,
Inc. |
247,795 |
25,966,438 | |
Financial
Services - 2.0% |
|||
The
Western Union Co. |
795,340 |
9,687,241 | |
Visa,
Inc. Class A |
101,225 |
24,064,219 | |
33,751,460 | |||
Insurance
- 2.5% |
|||
American
Financial Group, Inc. |
164,705 |
20,029,775 | |
Old
Republic International Corp. |
837,889 |
23,100,600 | |
43,130,375 | |||
Mortgage
Real Estate Investment Trusts - 2.5% |
|||
Annaly
Capital Management, Inc. |
923,945 |
18,562,055 | |
Rithm
Capital Corp. |
2,296,471 |
23,148,428 | |
41,710,483 | |||
TOTAL FINANCIALS |
323,609,136 | ||
HEALTH
CARE - 6.7% |
|||
Biotechnology
- 2.2% |
|||
AbbVie,
Inc. |
102,631 |
15,351,545 | |
Amgen,
Inc. |
49,112 |
11,499,575 | |
Gilead
Sciences, Inc. |
140,766 |
10,717,923 | |
37,569,043 | |||
Health
Care Equipment & Supplies - 0.7% |
|||
Medtronic
PLC |
134,404 |
11,795,295 | |
Pharmaceuticals
- 3.8% |
|||
Bristol-Myers
Squibb Co. |
173,430 |
10,785,612 | |
GSK
PLC |
407,536 |
7,260,236 | |
Johnson
& Johnson |
113,356 |
18,990,531 | |
Merck
& Co., Inc. |
144,982 |
15,462,330 | |
Pfizer,
Inc. |
331,553 |
11,955,801 | |
64,454,510 | |||
TOTAL HEALTH CARE |
113,818,848 | ||
INDUSTRIALS
- 14.5% |
|||
Aerospace
& Defense - 2.9% |
|||
Lockheed
Martin Corp. |
54,897 |
24,504,374 | |
Raytheon
Technologies Corp. |
274,613 |
24,146,721 | |
48,651,095 | |||
Air
Freight & Logistics - 1.5% |
|||
United
Parcel Service, Inc. Class B |
138,537 |
25,924,429 | |
Ground
Transportation - 1.7% |
|||
Union
Pacific Corp. |
122,488 |
28,419,666 | |
Industrial
Conglomerates - 2.7% |
|||
3M
Co. |
194,472 |
21,683,628 | |
Honeywell
International, Inc. |
127,751 |
24,800,302 | |
46,483,930 | |||
Machinery
- 1.7% |
|||
Caterpillar,
Inc. |
106,122 |
28,140,371 | |
Marine
Transportation - 4.0% |
|||
A.P.
Moller - Maersk A/S Series B |
6,739 |
13,893,149 | |
Kawasaki
Kisen Kaisha Ltd. |
738,100 |
22,244,821 | |
Mitsui
OSK Lines Ltd. |
627,700 |
16,235,906 | |
Nippon
Yusen KK |
647,000 |
15,701,408 | |
68,075,284 | |||
TOTAL INDUSTRIALS |
245,694,775 | ||
INFORMATION
TECHNOLOGY - 23.0% |
|||
Communications
Equipment - 1.1% |
|||
Cisco
Systems, Inc. |
359,651 |
18,716,238 | |
IT
Services - 0.9% |
|||
IBM
Corp. |
111,496 |
16,075,493 | |
Semiconductors
& Semiconductor Equipment - 8.2% |
|||
Broadcom,
Inc. |
31,520 |
28,325,448 | |
Intel
Corp. |
505,194 |
18,070,789 | |
NVIDIA
Corp. |
131,314 |
61,361,719 | |
Qualcomm,
Inc. |
118,808 |
15,702,853 | |
Texas
Instruments, Inc. |
89,985 |
16,197,300 | |
139,658,109 | |||
Software
- 5.6% |
|||
Microsoft
Corp. |
280,205 |
94,126,464 | |
Technology
Hardware, Storage & Peripherals - 7.2% |
|||
Apple,
Inc. |
551,400 |
108,322,529 | |
HP,
Inc. |
394,568 |
12,953,667 | |
121,276,196 | |||
TOTAL INFORMATION
TECHNOLOGY |
389,852,500 | ||
REAL
ESTATE - 8.6% |
|||
Equity
Real Estate Investment Trusts (REITs) - 8.6% |
|||
American
Tower Corp. |
82,109 |
15,626,164 | |
Crown
Castle International Corp. |
111,328 |
12,055,709 | |
Digital
Realty Trust, Inc. |
130,391 |
16,249,326 | |
Healthcare
Trust of America, Inc. |
661,882 |
12,926,555 | |
Medical
Properties Trust, Inc. (a) |
1,124,256 |
11,343,743 | |
Omega
Healthcare Investors, Inc. |
482,323 |
15,386,104 | |
Prologis
(REIT), Inc. |
144,705 |
18,051,949 | |
Public
Storage |
52,197 |
14,706,505 | |
Simon
Property Group, Inc. |
121,421 |
15,129,057 | |
Weyerhaeuser
Co. |
428,147 |
14,582,687 | |
146,057,799 | |||
TOTAL
COMMON STOCKS
(Cost
$1,559,841,105) |
1,689,034,525 | ||
Money
Market Funds - 1.0% | |||
Shares |
Value
($)
| ||
Fidelity
Cash Central Fund 5.32% (b) |
4,258,481 |
4,259,333 | |
Fidelity
Securities Lending Cash Central Fund 5.32% (b)(c) |
12,023,748 |
12,024,950 | |
TOTAL
MONEY MARKET FUNDS
(Cost
$16,284,283) |
16,284,283 | ||
TOTAL
INVESTMENT IN SECURITIES - 100.6%
(Cost
$1,576,125,388)
|
1,705,318,808 |
NET
OTHER ASSETS (LIABILITIES) - (0.6)% |
(9,551,560) |
NET
ASSETS - 100.0% |
1,695,767,248 |
Futures
Contracts | |||||
Number
of
contracts |
Expiration
Date |
Notional
Amount
($)
|
Value
($)
|
Unrealized
Appreciation/
(Depreciation)
($)
| |
Purchased |
|||||
Equity
Index Contracts |
|||||
CME
E-mini S&P 500 Index Contracts (United States) |
27 |
Sep
2023 |
6,229,575 |
274,053 |
274,053 |
CME
Micro E-mini S&P 500 Index Contracts (United States) |
20 |
Sep
2023 |
461,450 |
753 |
753 |
TOTAL
FUTURES CONTRACTS |
274,806 | ||||
The
notional amount of futures purchased as a percentage of Net Assets is
0.4% |
(a) |
Security
or a portion of the security is on loan at period end.
|
(b) |
Affiliated
fund that is generally available only to investment companies and other
accounts managed by Fidelity Investments. The rate quoted is the
annualized seven-day yield of the fund at period end. A complete unaudited
listing of the fund's holdings as of its most recent quarter end is
available upon request. In addition, each Fidelity Central Fund's
financial statements, which are not covered by the Fund's Report of
Independent Registered Public Accounting Firm, are available on the SEC's
website or upon request.
|
(c) |
Investment
made with cash collateral received from securities on loan.
|
Affiliate
|
Value,
beginning
of
period ($) |
Purchases
($) |
Sales
Proceeds
($) |
Dividend
Income
($) |
Realized
Gain
(loss) ($) |
Change
in
Unrealized
appreciation
(depreciation)
($) |
Value,
end
of
period ($) |
%
ownership,
end
of
period |
Fidelity
Cash Central Fund 5.32% |
2,743,400 |
111,350,344 |
109,834,411 |
80,442 |
- |
- |
4,259,333 |
0.0% |
Fidelity
Securities Lending Cash Central Fund 5.32% |
16,059,350 |
250,186,775 |
254,221,175 |
250,098 |
- |
- |
12,024,950 |
0.0% |
Total |
18,802,750 |
361,537,119 |
364,055,586 |
330,540 |
- |
- |
16,284,283 |
|
Valuation
Inputs at Reporting Date: | ||||
Description |
Total
($) |
Level
1 ($) |
Level
2 ($) |
Level
3 ($) |
Investments
in Securities: |
||||
Equities: |
||||
Communication
Services |
15,652,571 |
15,652,571 |
- |
- |
Consumer
Discretionary |
61,286,166 |
61,286,166 |
- |
- |
Consumer
Staples |
206,235,052 |
206,235,052 |
- |
- |
Energy |
186,827,678 |
186,827,678 |
- |
- |
Financials |
323,609,136 |
323,609,136 |
- |
- |
Health
Care |
113,818,848 |
113,818,848 |
- |
- |
Industrials |
245,694,775 |
245,694,775 |
- |
- |
Information
Technology |
389,852,500 |
389,852,500 |
- |
- |
Real
Estate |
146,057,799 |
146,057,799 |
- |
- |
Money Market
Funds |
16,284,283 |
16,284,283 |
- |
- |
Total Investments in Securities: |
1,705,318,808 |
1,705,318,808 |
- |
- |
Derivative
Instruments: |
||||
Assets |
||||
Futures
Contracts |
274,806 |
274,806 |
- |
- |
Total
Assets |
274,806 |
274,806 |
- |
- |
Total Derivative Instruments: |
274,806 |
274,806 |
- |
- |
Primary
Risk Exposure / Derivative Type
|
Value | |
Asset
($) |
Liability
($) | |
Equity
Risk |
||
Futures
Contracts (a) |
274,806 |
0 |
Total
Equity Risk |
274,806 |
0 |
Total
Value of Derivatives |
274,806 |
0 |
Statement
of Assets and Liabilities | ||||
July
31, 2023 | ||||
Assets
|
||||
Investment
in securities, at value (including securities loaned of $11,592,710) - See accompanying
schedule: |
||||
Unaffiliated issuers (cost
$1,559,841,105) |
$ |
1,689,034,525 |
||
Fidelity Central Funds (cost
$16,284,283) |
16,284,283 |
|||
Total
Investment in Securities (cost $1,576,125,388) |
$ |
1,705,318,808 | ||
Segregated
cash with brokers for derivative instruments |
294,560 | |||
Foreign
currency held at value (cost $16,910) |
17,024 | |||
Receivable
for fund shares sold |
6,226,804 | |||
Dividends
receivable |
2,475,289 | |||
Distributions
receivable from Fidelity Central Funds |
11,588 | |||
Receivable
for daily variation margin on futures contracts |
10,925 | |||
Total assets |
1,714,354,998 | |||
Liabilities |
||||
Payable
for investments purchased |
$ |
6,170,687 |
||
Accrued
management fee |
392,108 |
|||
Other
payables and accrued expenses |
5 |
|||
Collateral
on securities loaned |
12,024,950 |
|||
Total
Liabilities |
18,587,750 | |||
Net
Assets |
$ |
1,695,767,248 | ||
Net
Assets consist of: |
||||
Paid
in capital |
$ |
1,643,310,853 | ||
Total
accumulated earnings (loss) |
52,456,395 | |||
Net
Assets |
$ |
1,695,767,248 | ||
Net
Asset Value,
offering price and redemption price per share ($1,695,767,248 ÷ 40,850,000
shares) |
$ |
41.51 |
Statement
of Operations | ||||
Year
ended
July
31, 2023 | ||||
Investment
Income |
||||
Dividends
|
$ |
54,352,353 | ||
Income
from Fidelity Central Funds (including $250,098 from security lending)
|
330,540 | |||
Total Income |
54,682,893 | |||
Expenses |
||||
Management
fee |
$ |
4,015,094 |
||
Independent
trustees' fees and expenses |
6,738 |
|||
Interest |
6,792 |
|||
Total expenses before reductions |
4,028,624 |
|||
Expense reductions |
(328) |
|||
Total expenses after reductions |
4,028,296 | |||
Net
Investment income (loss) |
50,654,597 | |||
Realized
and Unrealized Gain (Loss) |
||||
Net
realized gain (loss) on: |
||||
Investment Securities: |
||||
Unaffiliated issuers |
(21,424,138) |
|||
Redemptions in-kind |
64,640,243 |
|||
Foreign currency transactions |
(295,558) |
|||
Futures contracts |
66,001 |
|||
Total
net realized gain (loss) |
42,986,548 | |||
Change
in net unrealized appreciation (depreciation) on: |
||||
Investment Securities: |
||||
Unaffiliated issuers |
77,519,102 |
|||
Assets and liabilities in foreign
currencies |
(22,089) |
|||
Futures contracts |
(37,105) |
|||
Total
change in net unrealized appreciation (depreciation) |
77,459,908 | |||
Net
gain (loss) |
120,446,456 | |||
Net
increase (decrease) in net assets resulting from
operations |
$ |
171,101,053 |
Statement
of Changes in Net Assets | ||||
Year
ended
July
31, 2023 |
Year
ended
July
31, 2022 | |||
Increase
(Decrease) in Net Assets |
||||
Operations |
||||
Net
investment income (loss) |
$ |
50,654,597 |
$ |
34,784,807 |
Net
realized gain (loss) |
42,986,548
|
95,057,679
| ||
Change
in net unrealized appreciation (depreciation) |
77,459,908 |
(104,029,877)
| ||
Net
increase (decrease) in net assets resulting from
operations |
171,101,053
|
25,812,609
| ||
Distributions
to shareholders |
(52,210,250)
|
(36,931,550)
| ||
Share
transactions |
||||
Proceeds
from sales of shares |
615,856,682 |
758,176,457 | ||
Cost
of shares redeemed |
(317,034,432) |
(521,124,909) | ||
Net increase (decrease) in net assets resulting from share
transactions |
298,822,250
|
237,051,548
| ||
Total
increase (decrease) in net assets |
417,713,053
|
225,932,607
| ||
Net
Assets |
||||
Beginning
of period |
1,278,054,195 |
1,052,121,588
| ||
End
of period |
$ |
1,695,767,248 |
$ |
1,278,054,195 |
Other
Information |
||||
Shares |
||||
Sold |
15,700,000 |
19,000,000 | ||
Redeemed |
(8,100,000) |
(13,400,000) | ||
Net
increase (decrease) |
7,600,000 |
5,600,000 | ||
Fidelity®
High Dividend ETF |
Years
ended July 31, |
2023
|
2022 |
2021 |
2020 |
2019 | |||||
Selected Per-Share
Data |
||||||||||
Net asset value, beginning
of period |
$ |
38.44 |
$ |
38.05 |
$ |
27.56 |
$ |
30.12 |
$ |
30.15 |
Income from Investment
Operations |
||||||||||
Net investment income (loss) A,B |
1.39
|
1.21
|
1.02
|
1.10
|
1.23
| |||||
Net realized and unrealized gain (loss)
|
3.11
|
.44
C |
10.48
|
(2.52)
|
(.03)
| |||||
Total from investment
operations |
4.50
|
1.65
|
11.50
|
(1.42)
|
1.20
| |||||
Distributions from net
investment income |
(1.43)
|
(1.26)
|
(1.01)
|
(1.14)
|
(1.23)
| |||||
Total distributions |
(1.43)
|
(1.26)
|
(1.01)
|
(1.14)
|
(1.23)
| |||||
Net asset value, end of
period |
$ |
41.51 |
$ |
38.44 |
$ |
38.05 |
$ |
27.56 |
$ |
30.12 |
Total Return D,E |
12.22%
|
4.43%
|
42.42%
|
(4.54)%
|
4.16%
| |||||
Ratios to Average Net Assets B,F,G |
||||||||||
Expenses before reductions
|
.29%
|
.29%
|
.29%
|
.29%
|
.29%
| |||||
Expenses net of fee
waivers, if any |
.29%
|
.29%
|
.29%
|
.29%
|
.29%
| |||||
Expenses net of all
reductions |
.29%
|
.29%
|
.29%
|
.29%
|
.29%
| |||||
Net investment income
(loss) |
3.66%
|
3.11%
|
3.04%
|
3.85%
|
4.15%
| |||||
Supplemental Data |
||||||||||
Net assets, end of period
(000 omitted) |
$ |
1,695,767 |
$ |
1,278,054 |
$ |
1,052,122 |
$ |
520,795 |
$ |
362,952 |
Portfolio turnover rate
H,I |
52%
|
38%
|
32%
|
49%
|
50%
|
Average
Annual Total Returns | |||
Periods
ended July 31, 2023
|
Past
1
year |
Past
5
years |
Life
of
Fund
|
Fidelity®
Low Volatility Factor ETF - NAV A |
8.96% |
11.22% |
12.47% |
Fidelity®
Low Volatility Factor ETF - Market Price B |
9.11% |
11.21% |
12.63% |
Fidelity
U.S. Low Volatility Factor Index℠ A |
9.27% |
11.47% |
12.77% |
Russell
1000® Index A |
12.95% |
11.92% |
13.38% |
$10,000 Over Life of Fund |
Let's
say hypothetically that $10,000 was invested in Fidelity® Low Volatility
Factor ETF - NAV, on September 12, 2016, when the fund
started.
The
chart shows how the value of your investment would have changed, and also
shows how the Fidelity U.S. Low Volatility Factor Index℠ and Russell 1000®
Index performed over the same period. |
![]() |
Top
Holdings (% of Fund's net
assets) | ||
Apple,
Inc. |
8.0 |
|
Microsoft
Corp. |
6.9 |
|
Alphabet,
Inc. Class A |
4.0 |
|
Amazon.com,
Inc. |
3.4 |
|
UnitedHealth
Group, Inc. |
1.7 |
|
Visa,
Inc. Class A |
1.7 |
|
Eli
Lilly & Co. |
1.7 |
|
Johnson
& Johnson |
1.6 |
|
MasterCard,
Inc. Class A |
1.6 |
|
Procter
& Gamble Co. |
1.3 |
|
31.9 |
||
Market
Sectors (% of Fund's net assets) | ||
Information
Technology |
21.1 |
|
Financials |
16.3 |
|
Health
Care |
13.6 |
|
Industrials |
11.4 |
|
Consumer
Discretionary |
10.3 |
|
Communication
Services |
7.8 |
|
Consumer
Staples |
6.3 |
|
Energy |
4.3 |
|
Real
Estate |
3.2 |
|
Materials |
2.9 |
|
Utilities |
2.5 |
|
Asset
Allocation (% of Fund's net assets)
|
![]() |
Futures - 0.2% |
Common
Stocks - 99.7% | |||
Shares |
Value
($)
| ||
COMMUNICATION
SERVICES - 7.8% |
|||
Diversified
Telecommunication Services - 1.2% |
|||
AT&T,
Inc. |
191,386 |
2,778,925 | |
Verizon
Communications, Inc. |
102,616 |
3,497,153 | |
6,276,078 | |||
Entertainment
- 0.6% |
|||
Activision
Blizzard, Inc. |
34,991 |
3,245,765 | |
Interactive
Media & Services - 4.0% |
|||
Alphabet,
Inc. Class A (a) |
167,757 |
22,264,709 | |
Media
- 1.5% |
|||
Comcast
Corp. Class A |
104,949 |
4,749,992 | |
Omnicom
Group, Inc. |
24,179 |
2,046,027 | |
TEGNA,
Inc. |
99,859 |
1,687,617 | |
8,483,636 | |||
Wireless
Telecommunication Services - 0.5% |
|||
T-Mobile
U.S., Inc. (a) |
21,311 |
2,936,016 | |
TOTAL COMMUNICATION
SERVICES |
43,206,204 | ||
CONSUMER
DISCRETIONARY - 10.3% |
|||
Broadline
Retail - 3.4% |
|||
Amazon.com,
Inc. (a) |
140,344 |
18,761,186 | |
Hotels,
Restaurants & Leisure - 2.4% |
|||
McDonald's
Corp. |
19,610 |
5,749,652 | |
Starbucks
Corp. |
39,125 |
3,973,926 | |
Yum!
Brands, Inc. |
24,126 |
3,321,426 | |
13,045,004 | |||
Specialty
Retail - 3.8% |
|||
AutoZone,
Inc. (a) |
1,321 |
3,278,352 | |
O'Reilly
Automotive, Inc. (a) |
4,073 |
3,770,743 | |
The
Home Depot, Inc. |
21,214 |
7,082,082 | |
TJX
Companies, Inc. |
47,874 |
4,142,537 | |
Tractor
Supply Co. |
12,789 |
2,864,608 | |
21,138,322 | |||
Textiles,
Apparel & Luxury Goods - 0.7% |
|||
NIKE,
Inc. Class B |
36,902 |
4,073,612 | |
TOTAL CONSUMER
DISCRETIONARY |
57,018,124 | ||
CONSUMER
STAPLES - 6.3% |
|||
Beverages
- 2.1% |
|||
PepsiCo,
Inc. |
31,443 |
5,894,305 | |
The
Coca-Cola Co. |
88,757 |
5,496,721 | |
11,391,026 | |||
Consumer
Staples Distribution & Retail - 0.4% |
|||
Dollar
General Corp. |
14,289 |
2,412,841 | |
Food
Products - 1.4% |
|||
General
Mills, Inc. |
37,518 |
2,804,095 | |
Hormel
Foods Corp. |
53,512 |
2,187,571 | |
The
Hershey Co. |
11,551 |
2,671,862 | |
7,663,528 | |||
Household
Products - 2.4% |
|||
Colgate-Palmolive
Co. |
41,583 |
3,171,120 | |
Kimberly-Clark
Corp. |
21,762 |
2,809,474 | |
Procter
& Gamble Co. |
47,131 |
7,366,575 | |
13,347,169 | |||
TOTAL CONSUMER STAPLES |
34,814,564 | ||
ENERGY
- 4.3% |
|||
Oil,
Gas & Consumable Fuels - 4.3% |
|||
Chevron
Corp. |
29,568 |
4,839,099 | |
ConocoPhillips
Co. |
25,686 |
3,023,756 | |
Coterra
Energy, Inc. |
51,977 |
1,431,447 | |
DT
Midstream, Inc. |
19,988 |
1,069,758 | |
EOG
Resources, Inc. |
15,994 |
2,119,685 | |
Exxon
Mobil Corp. |
63,617 |
6,822,287 | |
Kinder
Morgan, Inc. |
81,830 |
1,449,209 | |
Pioneer
Natural Resources Co. |
7,808 |
1,762,031 | |
The
Williams Companies, Inc. |
47,995 |
1,653,428 | |
24,170,700 | |||
FINANCIALS
- 16.3% |
|||
Banks
- 0.6% |
|||
Commerce
Bancshares, Inc. |
58,889 |
3,131,717 | |
Capital
Markets - 2.7% |
|||
Cboe
Global Markets, Inc. |
33,340 |
4,656,931 | |
CME
Group, Inc. |
26,675 |
5,307,258 | |
Intercontinental
Exchange, Inc. |
42,997 |
4,936,056 | |
14,900,245 | |||
Financial
Services - 5.1% |
|||
Fiserv,
Inc. (a) |
47,347 |
5,975,665 | |
Jack
Henry & Associates, Inc. |
23,939 |
4,011,458 | |
MasterCard,
Inc. Class A |
22,388 |
8,827,141 | |
Visa,
Inc. Class A |
39,848 |
9,473,065 | |
28,287,329 | |||
Insurance
- 7.9% |
|||
Allstate
Corp. |
32,760 |
3,691,397 | |
Arthur
J. Gallagher & Co. |
22,606 |
4,855,769 | |
Assurant,
Inc. |
29,587 |
3,979,747 | |
Brown
& Brown, Inc. |
68,890 |
4,853,301 | |
Chubb
Ltd. |
23,840 |
4,873,134 | |
Erie
Indemnity Co. Class A |
16,156 |
3,585,986 | |
Marsh
& McLennan Companies, Inc. |
28,559 |
5,381,087 | |
Progressive
Corp. |
36,316 |
4,575,090 | |
The
Travelers Companies, Inc. |
24,326 |
4,198,911 | |
W.R.
Berkley Corp. |
60,650 |
3,741,499 | |
43,735,921 | |||
TOTAL FINANCIALS |
90,055,212 | ||
HEALTH
CARE - 13.6% |
|||
Biotechnology
- 3.0% |
|||
AbbVie,
Inc. |
45,334 |
6,781,060 | |
Amgen,
Inc. |
19,962 |
4,674,102 | |
Vertex
Pharmaceuticals, Inc. (a) |
13,872 |
4,887,660 | |
16,342,822 | |||
Health
Care Equipment & Supplies - 1.7% |
|||
Abbott
Laboratories |
51,390 |
5,721,249 | |
ResMed,
Inc. |
15,987 |
3,554,709 | |
9,275,958 | |||
Health
Care Providers & Services - 1.7% |
|||
UnitedHealth
Group, Inc. |
19,098 |
9,670,654 | |
Life
Sciences Tools & Services - 1.0% |
|||
Thermo
Fisher Scientific, Inc. |
10,602 |
5,816,893 | |
Pharmaceuticals
- 6.2% |
|||
Bristol-Myers
Squibb Co. |
71,833 |
4,467,294 | |
Eli
Lilly & Co. |
20,042 |
9,110,091 | |
Johnson
& Johnson |
53,754 |
9,005,408 | |
Merck
& Co., Inc. |
64,253 |
6,852,582 | |
Zoetis,
Inc. Class A |
24,777 |
4,660,306 | |
34,095,681 | |||
TOTAL HEALTH CARE |
75,202,008 | ||
INDUSTRIALS
- 11.4% |
|||
Aerospace
& Defense - 2.2% |
|||
General
Dynamics Corp. |
12,676 |
2,834,100 | |
L3Harris
Technologies, Inc. |
13,104 |
2,483,077 | |
Lockheed
Martin Corp. |
7,990 |
3,566,496 | |
Northrop
Grumman Corp. |
7,004 |
3,116,780 | |
12,000,453 | |||
Commercial
Services & Supplies - 1.1% |
|||
Republic
Services, Inc. |
21,037 |
3,178,901 | |
Waste
Management, Inc. |
19,868 |
3,254,180 | |
6,433,081 | |||
Ground
Transportation - 0.8% |
|||
Union
Pacific Corp. |
18,638 |
4,324,389 | |
Industrial
Conglomerates - 1.2% |
|||
3M
Co. |
25,965 |
2,895,098 | |
Honeywell
International, Inc. |
19,704 |
3,825,138 | |
6,720,236 | |||
Machinery
- 1.7% |
|||
Illinois
Tool Works, Inc. |
12,653 |
3,331,788 | |
Otis
Worldwide Corp. |
32,278 |
2,936,007 | |
PACCAR,
Inc. |
37,067 |
3,192,581 | |
9,460,376 | |||
Professional
Services - 4.4% |
|||
Automatic
Data Processing, Inc. |
23,784 |
5,880,832 | |
Booz
Allen Hamilton Holding Corp. Class A |
25,267 |
3,059,328 | |
FTI
Consulting, Inc. (a)(b) |
14,399 |
2,522,129 | |
Maximus,
Inc. |
56,438 |
4,727,247 | |
Paychex,
Inc. |
38,997 |
4,892,954 | |
Verisk
Analytics, Inc. |
14,071 |
3,221,415 | |
24,303,905 | |||
TOTAL INDUSTRIALS |
63,242,440 | ||
INFORMATION
TECHNOLOGY - 21.1% |
|||
Communications
Equipment - 1.3% |
|||
Cisco
Systems, Inc. |
139,211 |
7,244,540 | |
IT
Services - 1.6% |
|||
Akamai
Technologies, Inc. (a) |
48,005 |
4,536,473 | |
Amdocs
Ltd. |
46,087 |
4,315,587 | |
8,852,060 | |||
Semiconductors
& Semiconductor Equipment - 2.4% |
|||
Intel
Corp. |
193,352 |
6,916,201 | |
Texas
Instruments, Inc. |
34,677 |
6,241,860 | |
13,158,061 | |||
Software
- 7.8% |
|||
Microsoft
Corp. |
114,257 |
38,381,211 | |
Tyler
Technologies, Inc. (a) |
12,691 |
5,033,631 | |
43,414,842 | |||
Technology
Hardware, Storage & Peripherals - 8.0% |
|||
Apple,
Inc. |
225,213 |
44,243,088 | |
TOTAL INFORMATION
TECHNOLOGY |
116,912,591 | ||
MATERIALS
- 2.9% |
|||
Chemicals
- 1.8% |
|||
Air
Products & Chemicals, Inc. |
5,768 |
1,761,143 | |
Balchem
Corp. |
6,432 |
866,648 | |
Ecolab,
Inc. |
8,540 |
1,564,016 | |
FMC
Corp. |
8,184 |
787,546 | |
Linde
PLC |
9,054 |
3,537,126 | |
Sherwin-Williams
Co. |
6,535 |
1,806,928 | |
10,323,407 | |||
Construction
Materials - 0.5% |
|||
Martin
Marietta Materials, Inc. |
3,087 |
1,378,222 | |
Vulcan
Materials Co. |
6,230 |
1,373,715 | |
2,751,937 | |||
Containers
& Packaging - 0.4% |
|||
Aptargroup,
Inc. |
8,017 |
973,745 | |
Packaging
Corp. of America |
7,007 |
1,074,523 | |
2,048,268 | |||
Metals
& Mining - 0.2% |
|||
Newmont
Corp. |
26,489 |
1,136,908 | |
TOTAL MATERIALS |
16,260,520 | ||
REAL
ESTATE - 3.2% |
|||
Equity
Real Estate Investment Trusts (REITs) - 2.7% |
|||
Agree
Realty Corp. |
13,208 |
855,614 | |
American
Tower Corp. |
10,102 |
1,922,512 | |
Crown
Castle International Corp. |
11,613 |
1,257,572 | |
CubeSmart
|
22,147 |
960,294 | |
Equinix,
Inc. |
2,416 |
1,956,767 | |
Equity
Lifestyle Properties, Inc. |
14,550 |
1,035,669 | |
Essex
Property Trust, Inc. |
4,651 |
1,132,751 | |
Extra
Space Storage, Inc. |
7,215 |
1,006,998 | |
Mid-America
Apartment Communities, Inc. |
6,690 |
1,001,225 | |
Public
Storage |
4,974 |
1,401,425 | |
Realty
Income Corp. |
21,534 |
1,312,928 | |
Sun
Communities, Inc. |
7,152 |
931,906 | |
14,775,661 | |||
Real
Estate Management & Development - 0.5% |
|||
CoStar
Group, Inc. (a) |
33,435 |
2,807,537 | |
TOTAL REAL ESTATE |
17,583,198 | ||
UTILITIES
- 2.5% |
|||
Electric
Utilities - 1.5% |
|||
American
Electric Power Co., Inc. |
18,016 |
1,526,676 | |
Duke
Energy Corp. |
20,574 |
1,926,138 | |
Eversource
Energy |
17,332 |
1,253,624 | |
Southern
Co. |
29,849 |
2,159,277 | |
Xcel
Energy, Inc. |
22,492 |
1,410,923 | |
8,276,638 | |||
Multi-Utilities
- 1.0% |
|||
Ameren
Corp. |
15,658 |
1,341,421 | |
CMS
Energy Corp. |
20,499 |
1,251,874 | |
Consolidated
Edison, Inc. (b) |
15,845 |
1,503,057 | |
WEC
Energy Group, Inc. |
15,352 |
1,379,531 | |
5,475,883 | |||
TOTAL UTILITIES |
13,752,521 | ||
TOTAL
COMMON STOCKS
(Cost
$503,837,258) |
552,218,082 | ||
Money
Market Funds - 0.8% | |||
Shares |
Value
($)
| ||
Fidelity
Cash Central Fund 5.32% (c) |
909,559 |
909,740 | |
Fidelity
Securities Lending Cash Central Fund 5.32% (c)(d) |
3,428,106 |
3,428,449 | |
TOTAL
MONEY MARKET FUNDS
(Cost
$4,338,189) |
4,338,189 | ||
TOTAL
INVESTMENT IN SECURITIES - 100.5%
(Cost
$508,175,447)
|
556,556,271 |
NET
OTHER ASSETS (LIABILITIES) - (0.5)% |
(2,951,538) |
NET
ASSETS - 100.0% |
553,604,733 |
Futures
Contracts | |||||
Number
of
contracts |
Expiration
Date |
Notional
Amount
($)
|
Value
($)
|
Unrealized
Appreciation/
(Depreciation)
($)
| |
Purchased |
|||||
Equity
Index Contracts |
|||||
CME
Micro E-mini S&P 500 Index Contracts (United States) |
50 |
Sep
2023 |
1,153,625 |
72,421 |
72,421 |
The
notional amount of futures purchased as a percentage of Net Assets is
0.2% |
(a) |
Non-income
producing
|
(b) |
Security
or a portion of the security is on loan at period end.
|
(c) |
Affiliated
fund that is generally available only to investment companies and other
accounts managed by Fidelity Investments. The rate quoted is the
annualized seven-day yield of the fund at period end. A complete unaudited
listing of the fund's holdings as of its most recent quarter end is
available upon request. In addition, each Fidelity Central Fund's
financial statements, which are not covered by the Fund's Report of
Independent Registered Public Accounting Firm, are available on the SEC's
website or upon request.
|
(d) |
Investment
made with cash collateral received from securities on loan.
|
Affiliate
|
Value,
beginning
of
period ($) |
Purchases
($) |
Sales
Proceeds
($) |
Dividend
Income
($) |
Realized
Gain
(loss) ($) |
Change
in
Unrealized
appreciation
(depreciation)
($) |
Value,
end
of
period ($) |
%
ownership,
end
of
period |
Fidelity
Cash Central Fund 5.32% |
1,126,798 |
14,495,936 |
14,712,994 |
34,067 |
- |
- |
909,740 |
0.0% |
Fidelity
Securities Lending Cash Central Fund 5.32% |
1,748,660 |
29,274,831 |
27,595,042 |
8,042 |
- |
- |
3,428,449 |
0.0% |
Total |
2,875,458 |
43,770,767 |
42,308,036 |
42,109 |
- |
- |
4,338,189 |
|
Valuation
Inputs at Reporting Date: | ||||
Description |
Total
($) |
Level
1 ($) |
Level
2 ($) |
Level
3 ($) |
Investments
in Securities: |
||||
Equities: |
||||
Communication
Services |
43,206,204 |
43,206,204 |
- |
- |
Consumer
Discretionary |
57,018,124 |
57,018,124 |
- |
- |
Consumer
Staples |
34,814,564 |
34,814,564 |
- |
- |
Energy |
24,170,700 |
24,170,700 |
- |
- |
Financials |
90,055,212 |
90,055,212 |
- |
- |
Health
Care |
75,202,008 |
75,202,008 |
- |
- |
Industrials |
63,242,440 |
63,242,440 |
- |
- |
Information
Technology |
116,912,591 |
116,912,591 |
- |
- |
Materials |
16,260,520 |
16,260,520 |
- |
- |
Real
Estate |
17,583,198 |
17,583,198 |
- |
- |
Utilities |
13,752,521 |
13,752,521 |
- |
- |
Money Market
Funds |
4,338,189 |
4,338,189 |
- |
- |
Total Investments in Securities: |
556,556,271 |
556,556,271 |
- |
- |
Derivative
Instruments: |
||||
Assets |
||||
Futures
Contracts |
72,421 |
72,421 |
- |
- |
Total
Assets |
72,421 |
72,421 |
- |
- |
Total Derivative Instruments: |
72,421 |
72,421 |
- |
- |
Primary
Risk Exposure / Derivative Type
|
Value | |
Asset
($) |
Liability
($) | |
Equity
Risk |
||
Futures
Contracts (a) |
72,421 |
0 |
Total
Equity Risk |
72,421 |
0 |
Total
Value of Derivatives |
72,421 |
0 |
Statement
of Assets and Liabilities | ||||
July
31, 2023 | ||||
Assets
|
||||
Investment
in securities, at value (including securities loaned of $3,327,026) - See accompanying
schedule: |
||||
Unaffiliated issuers (cost
$503,837,258) |
$ |
552,218,082 |
||
Fidelity Central Funds (cost
$4,338,189) |
4,338,189 |
|||
Total
Investment in Securities (cost $508,175,447) |
$ |
556,556,271 | ||
Segregated
cash with brokers for derivative instruments |
56,000 | |||
Cash |
45,224 | |||
Dividends
receivable |
501,501 | |||
Distributions
receivable from Fidelity Central Funds |
3,848 | |||
Receivable
for daily variation margin on futures contracts |
2,000 | |||
Total assets |
557,164,844 | |||
Liabilities |
||||
Accrued
management fee |
$ |
131,686 |
||
Collateral
on securities loaned |
3,428,425 |
|||
Total
Liabilities |
3,560,111 | |||
Net
Assets |
$ |
553,604,733 | ||
Net
Assets consist of: |
||||
Paid
in capital |
$ |
545,183,306 | ||
Total
accumulated earnings (loss) |
8,421,427 | |||
Net
Assets |
$ |
553,604,733 | ||
Net
Asset Value,
offering price and redemption price per share ($553,604,733 ÷ 10,850,000
shares) |
$ |
51.02 |
Statement
of Operations | ||||
Year
ended
July
31, 2023 | ||||
Investment
Income |
||||
Dividends
|
$ |
8,867,661 | ||
Income
from Fidelity Central Funds (including $8,042 from security lending)
|
42,109 | |||
Total Income |
8,909,770 | |||
Expenses |
||||
Management
fee |
$ |
1,389,867 |
||
Independent
trustees' fees and expenses |
2,393 |
|||
Total expenses before reductions |
1,392,260 |
|||
Expense reductions |
(270) |
|||
Total expenses after reductions |
1,391,990 | |||
Net
Investment income (loss) |
7,517,780 | |||
Realized
and Unrealized Gain (Loss) |
||||
Net
realized gain (loss) on: |
||||
Investment Securities: |
||||
Unaffiliated issuers |
(7,333,706) |
|||
Redemptions in-kind |
8,225,322 |
|||
Futures contracts |
145,567 |
|||
Total
net realized gain (loss) |
1,037,183 | |||
Change
in net unrealized appreciation (depreciation) on: |
||||
Investment Securities: |
||||
Unaffiliated issuers |
36,488,563 |
|||
Futures contracts |
(42,574) |
|||
Total
change in net unrealized appreciation (depreciation) |
36,445,989 | |||
Net
gain (loss) |
37,483,172 | |||
Net
increase (decrease) in net assets resulting from
operations |
$ |
45,000,952 |
Statement
of Changes in Net Assets | ||||
Year
ended
July
31, 2023 |
Year
ended
July
31, 2022 | |||
Increase
(Decrease) in Net Assets |
||||
Operations |
||||
Net
investment income (loss) |
$ |
7,517,780 |
$ |
6,029,946 |
Net
realized gain (loss) |
1,037,183
|
57,400,773
| ||
Change
in net unrealized appreciation (depreciation) |
36,445,989 |
(66,352,118)
| ||
Net
increase (decrease) in net assets resulting from
operations |
45,000,952
|
(2,921,399)
| ||
Distributions
to shareholders |
(7,460,700)
|
(5,937,600)
| ||
Share
transactions |
||||
Proceeds
from sales of shares |
126,351,905 |
286,611,056 | ||
Cost
of shares redeemed |
(55,150,184) |
(344,785,919) | ||
Net increase (decrease) in net assets resulting from share
transactions |
71,201,721
|
(58,174,863)
| ||
Total
increase (decrease) in net assets |
108,741,973
|
(67,033,862)
| ||
Net
Assets |
||||
Beginning
of period |
444,862,760 |
511,896,622
| ||
End
of period |
$ |
553,604,733 |
$ |
444,862,760 |
Other
Information |
||||
Shares |
||||
Sold |
2,700,000 |
5,950,000 | ||
Redeemed |
(1,200,000) |
(7,100,000) | ||
Net
increase (decrease) |
1,500,000 |
(1,150,000) | ||
Fidelity®
Low Volatility Factor ETF |
Years
ended July 31, |
2023
|
2022 |
2021 |
2020 |
2019 | |||||
Selected Per-Share
Data |
||||||||||
Net asset value, beginning
of period |
$ |
47.58 |
$ |
48.75 |
$ |
38.33 |
$ |
36.37 |
$ |
32.40 |
Income from Investment
Operations |
||||||||||
Net investment income (loss) A,B |
.74
|
.62
|
.56
|
.62
|
.62
| |||||
Net realized and unrealized gain (loss)
|
3.44
|
(1.17)
|
10.43
|
1.95
|
3.92
| |||||
Total from investment
operations |
4.18
|
(.55)
|
10.99
|
2.57
|
4.54
| |||||
Distributions from net
investment income |
(.74)
|
(.62)
|
(.57)
|
(.61)
|
(.57)
| |||||
Total distributions |
(.74)
|
(.62)
|
(.57)
|
(.61)
|
(.57)
| |||||
Net asset value, end of
period |
$ |
51.02 |
$ |
47.58 |
$ |
48.75 |
$ |
38.33 |
$ |
36.37 |
Total Return C,D |
8.96%
|
(1.12)%
|
28.90%
|
7.29%
|
14.20%
| |||||
Ratios to Average Net Assets B,E,F |
||||||||||
Expenses before reductions
|
.29%
|
.29%
|
.29%
|
.29%
|
.29%
| |||||
Expenses net of fee
waivers, if any |
.29%
|
.29%
|
.29%
|
.29%
|
.29%
| |||||
Expenses net of all
reductions |
.29%
|
.29%
|
.29%
|
.29%
|
.29%
| |||||
Net investment income
(loss) |
1.57%
|
1.27%
|
1.31%
|
1.69%
|
1.83%
| |||||
Supplemental Data |
||||||||||
Net assets, end of period
(000 omitted) |
$ |
553,605 |
$ |
444,863 |
$ |
511,897 |
$ |
350,708 |
$ |
245,502 |
Portfolio turnover rate
G,H |
46%
|
28%
|
46%
|
31%
|
36%
|
Average
Annual Total Returns | |||
Periods
ended July 31, 2023
|
Past
1
year |
Past
5
years |
Life
of
Fund
|
Fidelity®
Momentum Factor ETF - NAV A |
9.02% |
9.12% |
11.34% |
Fidelity®
Momentum Factor ETF - Market Price B |
8.81% |
9.07% |
11.43% |
Fidelity
U.S. Momentum Factor Index℠ A |
9.34% |
9.44% |
11.68% |
Russell
1000® Index A |
12.95% |
11.92% |
13.38% |
$10,000 Over Life of Fund |
Let's
say hypothetically that $10,000 was invested in Fidelity® Momentum Factor
ETF - NAV, on September 12, 2016, when the fund started.
The
chart shows how the value of your investment would have changed, and also
shows how the Fidelity U.S. Momentum Factor Index℠ and Russell 1000® Index
performed over the same period. |
![]() |
Top
Holdings (% of Fund's net
assets) | ||
Apple,
Inc. |
7.7 |
|
Microsoft
Corp. |
6.6 |
|
Alphabet,
Inc. Class A |
3.9 |
|
NVIDIA
Corp. |
3.7 |
|
Meta
Platforms, Inc. Class A |
2.1 |
|
Berkshire
Hathaway, Inc. Class B |
2.0 |
|
Eli
Lilly & Co. |
1.8 |
|
Broadcom,
Inc. |
1.8 |
|
JPMorgan
Chase & Co. |
1.6 |
|
Super
Micro Computer, Inc. |
1.4 |
|
32.6 |
||
Market
Sectors (% of Fund's net assets) | ||
Information
Technology |
28.5 |
|
Financials |
12.7 |
|
Health
Care |
11.9 |
|
Industrials |
9.6 |
|
Consumer
Discretionary |
9.5 |
|
Communication
Services |
8.7 |
|
Consumer
Staples |
6.2 |
|
Energy |
4.5 |
|
Materials |
2.9 |
|
Real
Estate |
2.7 |
|
Utilities |
2.6 |
|
Asset
Allocation (% of Fund's net assets)
|
![]() |
Futures - 0.2% |
Common
Stocks - 99.8% | |||
Shares |
Value
($)
| ||
COMMUNICATION
SERVICES - 8.7% |
|||
Diversified
Telecommunication Services - 0.3% |
|||
Iridium
Communications, Inc. |
7,859 |
412,990 | |
Entertainment
- 1.6% |
|||
Atlanta
Braves Holdings, Inc. |
231 |
9,406 | |
Liberty
Media Corp. Liberty Formula One Series C (a) |
7,995 |
580,437 | |
Netflix,
Inc. (a) |
3,110 |
1,365,197 | |
World
Wrestling Entertainment, Inc. Class A (b) |
4,670 |
490,350 | |
2,445,390 | |||
Interactive
Media & Services - 6.0% |
|||
Alphabet,
Inc. Class A (a) |
45,373 |
6,021,905 | |
Meta
Platforms, Inc. Class A (a) |
10,170 |
3,240,162 | |
9,262,067 | |||
Media
- 0.8% |
|||
Comcast
Corp. Class A |
27,198 |
1,230,981 | |
TOTAL COMMUNICATION
SERVICES |
13,351,428 | ||
CONSUMER
DISCRETIONARY - 9.5% |
|||
Hotels,
Restaurants & Leisure - 4.4% |
|||
Booking
Holdings, Inc. (a) |
537 |
1,595,320 | |
Las
Vegas Sands Corp. |
17,904 |
1,070,838 | |
McDonald's
Corp. |
6,168 |
1,808,458 | |
Starbucks
Corp. |
14,041 |
1,426,144 | |
Wingstop,
Inc. |
5,074 |
855,375 | |
6,756,135 | |||
Household
Durables - 1.7% |
|||
D.R.
Horton, Inc. |
10,753 |
1,365,846 | |
Lennar
Corp. Class A |
10,146 |
1,286,817 | |
2,652,663 | |||
Specialty
Retail - 2.6% |
|||
AutoZone,
Inc. (a) |
456 |
1,131,664 | |
O'Reilly
Automotive, Inc. (a) |
1,332 |
1,233,152 | |
TJX
Companies, Inc. |
17,594 |
1,522,409 | |
3,887,225 | |||
Textiles,
Apparel & Luxury Goods - 0.8% |
|||
Deckers
Outdoor Corp. (a) |
2,249 |
1,222,759 | |
TOTAL CONSUMER
DISCRETIONARY |
14,518,782 | ||
CONSUMER
STAPLES - 6.2% |
|||
Beverages
- 2.2% |
|||
Monster
Beverage Corp. |
11,053 |
635,437 | |
PepsiCo,
Inc. |
7,505 |
1,406,887 | |
The
Coca-Cola Co. |
21,725 |
1,345,429 | |
3,387,753 | |||
Consumer
Staples Distribution & Retail - 0.9% |
|||
Walmart,
Inc. |
8,302 |
1,327,158 | |
Food
Products - 1.5% |
|||
General
Mills, Inc. |
7,503 |
560,774 | |
Lamb
Weston Holdings, Inc. |
4,827 |
500,222 | |
Lancaster
Colony Corp. |
2,294 |
441,893 | |
Mondelez
International, Inc. |
11,168 |
827,884 | |
2,330,773 | |||
Household
Products - 1.2% |
|||
Procter
& Gamble Co. |
11,695 |
1,827,929 | |
Personal
Care Products - 0.4% |
|||
elf
Beauty, Inc. (a) |
5,532 |
645,695 | |
TOTAL CONSUMER STAPLES |
9,519,308 | ||
ENERGY
- 4.5% |
|||
Energy
Equipment & Services - 0.9% |
|||
Schlumberger
Ltd. |
10,717 |
625,230 | |
TechnipFMC
PLC |
20,350 |
373,219 | |
Weatherford
International PLC (a) |
4,466 |
371,125 | |
1,369,574 | |||
Oil,
Gas & Consumable Fuels - 3.6% |
|||
Chevron
Corp. |
8,095 |
1,324,828 | |
ConocoPhillips
Co. |
7,031 |
827,689 | |
Exxon
Mobil Corp. |
17,396 |
1,865,547 | |
Hess
Corp. |
2,917 |
442,596 | |
Marathon
Petroleum Corp. |
4,030 |
536,071 | |
Phillips
66 Co. |
4,402 |
491,043 | |
5,487,774 | |||
TOTAL ENERGY |
6,857,348 | ||
FINANCIALS
- 12.7% |
|||
Banks
- 1.6% |
|||
JPMorgan
Chase & Co. |
15,769 |
2,490,871 | |
Capital
Markets - 2.8% |
|||
Goldman
Sachs Group, Inc. |
3,346 |
1,190,741 | |
Interactive
Brokers Group, Inc. |
9,863 |
861,336 | |
Morgan
Stanley |
12,975 |
1,187,991 | |
MSCI,
Inc. |
1,760 |
964,621 | |
4,204,689 | |||
Financial
Services - 5.3% |
|||
Berkshire
Hathaway, Inc. Class B (a) |
8,700 |
3,062,052 | |
Fiserv,
Inc. (a) |
8,072 |
1,018,767 | |
MasterCard,
Inc. Class A |
4,884 |
1,925,664 | |
Visa,
Inc. Class A |
8,940 |
2,125,306 | |
8,131,789 | |||
Insurance
- 3.0% |
|||
Aon
PLC |
2,863 |
911,866 | |
Arch
Capital Group Ltd. (a) |
10,642 |
826,777 | |
Arthur
J. Gallagher & Co. |
3,988 |
856,622 | |
Marsh
& McLennan Companies, Inc. |
5,629 |
1,060,616 | |
Progressive
Corp. |
7,510 |
946,110 | |
4,601,991 | |||
TOTAL FINANCIALS |
19,429,340 | ||
HEALTH
CARE - 11.9% |
|||
Biotechnology
- 3.6% |
|||
Biogen,
Inc. (a) |
4,663 |
1,259,896 | |
Gilead
Sciences, Inc. |
21,075 |
1,604,651 | |
Regeneron
Pharmaceuticals, Inc. (a) |
2,113 |
1,567,656 | |
Sarepta
Therapeutics, Inc. (a) |
10,285 |
1,114,791 | |
5,546,994 | |||
Health
Care Equipment & Supplies - 3.1% |
|||
Boston
Scientific Corp. (a) |
30,206 |
1,566,181 | |
DexCom,
Inc. (a) |
12,458 |
1,551,768 | |
Stryker
Corp. |
5,789 |
1,640,660 | |
4,758,609 | |||
Health
Care Providers & Services - 2.0% |
|||
Cardinal
Health, Inc. |
16,988 |
1,553,892 | |
HCA
Holdings, Inc. |
5,447 |
1,485,996 | |
3,039,888 | |||
Pharmaceuticals
- 3.2% |
|||
Eli
Lilly & Co. |
5,909 |
2,685,936 | |
Merck
& Co., Inc. |
20,315 |
2,166,595 | |
4,852,531 | |||
TOTAL HEALTH CARE |
18,198,022 | ||
INDUSTRIALS
- 9.6% |
|||
Aerospace
& Defense - 2.5% |
|||
Axon
Enterprise, Inc. (a) |
3,050 |
567,087 | |
Lockheed
Martin Corp. |
2,189 |
977,104 | |
Raytheon
Technologies Corp. |
11,756 |
1,033,705 | |
The
Boeing Co. (a) |
5,172 |
1,235,332 | |
3,813,228 | |||
Building
Products - 0.6% |
|||
Trane
Technologies PLC |
4,327 |
862,977 | |
Commercial
Services & Supplies - 1.0% |
|||
Clean
Harbors, Inc. (a) |
4,682 |
778,429 | |
Copart,
Inc. (a) |
9,417 |
832,369 | |
1,610,798 | |||
Construction
& Engineering - 0.5% |
|||
Quanta
Services, Inc. |
4,237 |
854,264 | |
Electrical
Equipment - 1.3% |
|||
Eaton
Corp. PLC |
5,100 |
1,047,132 | |
Rockwell
Automation, Inc. |
2,619 |
880,744 | |
1,927,876 | |||
Industrial
Conglomerates - 0.8% |
|||
General
Electric Co. |
10,164 |
1,161,135 | |
Machinery
- 2.4% |
|||
Deere
& Co. |
2,632 |
1,130,707 | |
Illinois
Tool Works, Inc. |
3,718 |
979,024 | |
PACCAR,
Inc. |
10,556 |
909,188 | |
Toro
Co. |
6,331 |
643,546 | |
3,662,465 | |||
Trading
Companies & Distributors - 0.5% |
|||
W.W.
Grainger, Inc. |
1,084 |
800,523 | |
TOTAL INDUSTRIALS |
14,693,266 | ||
INFORMATION
TECHNOLOGY - 28.5% |
|||
Communications
Equipment - 1.5% |
|||
Arista
Networks, Inc. (a) |
7,462 |
1,157,282 | |
Motorola
Solutions, Inc. |
3,667 |
1,051,072 | |
2,208,354 | |||
Semiconductors
& Semiconductor Equipment - 8.6% |
|||
Analog
Devices, Inc. |
6,747 |
1,346,229 | |
Broadcom,
Inc. |
2,982 |
2,679,774 | |
First
Solar, Inc. (a) |
5,535 |
1,147,959 | |
Lattice
Semiconductor Corp. (a) |
11,387 |
1,035,534 | |
NVIDIA
Corp. |
12,209 |
5,705,144 | |
Rambus,
Inc. (a) |
19,386 |
1,213,757 | |
13,128,397 | |||
Software
- 9.3% |
|||
Cadence
Design Systems, Inc. (a) |
5,331 |
1,247,507 | |
Fair
Isaac Corp. (a) |
1,297 |
1,086,847 | |
Microsoft
Corp. |
30,105 |
10,112,872 | |
Oracle
Corp. |
14,961 |
1,753,878 | |
14,201,104 | |||
Technology
Hardware, Storage & Peripherals - 9.1% |
|||
Apple,
Inc. |
59,697 |
11,727,477 | |
Super
Micro Computer, Inc. (a) |
6,678 |
2,205,543 | |
13,933,020 | |||
TOTAL INFORMATION
TECHNOLOGY |
43,470,875 | ||
MATERIALS
- 2.9% |
|||
Chemicals
- 1.6% |
|||
Air
Products & Chemicals, Inc. |
1,476 |
450,667 | |
Corteva,
Inc. |
6,004 |
338,806 | |
DuPont
de Nemours, Inc. |
4,692 |
364,240 | |
Linde
PLC |
2,336 |
912,605 | |
PPG
Industries, Inc. |
2,286 |
328,955 | |
2,395,273 | |||
Metals
& Mining - 1.3% |
|||
ATI,
Inc. (a) |
5,941 |
283,267 | |
Commercial
Metals Co. |
4,939 |
282,610 | |
Freeport-McMoRan,
Inc. |
10,712 |
478,291 | |
Nucor
Corp. |
2,307 |
397,012 | |
Reliance
Steel & Aluminum Co. |
1,021 |
299,010 | |
Steel
Dynamics, Inc. |
2,616 |
278,813 | |
2,019,003 | |||
TOTAL MATERIALS |
4,414,276 | ||
REAL
ESTATE - 2.7% |
|||
Equity
Real Estate Investment Trusts (REITs) - 2.5% |
|||
American
Tower Corp. |
2,662 |
506,605 | |
Americold
Realty Trust |
7,379 |
239,227 | |
Equinix,
Inc. |
594 |
481,092 | |
Gaming
& Leisure Properties |
4,635 |
219,977 | |
Iron
Mountain, Inc. |
4,418 |
271,265 | |
Prologis
(REIT), Inc. |
4,868 |
607,283 | |
Public
Storage |
1,221 |
344,017 | |
Realty
Income Corp. |
5,307 |
323,568 | |
Simon
Property Group, Inc. |
2,926 |
364,580 | |
VICI
Properties, Inc. |
9,430 |
296,856 | |
WP
Carey, Inc. |
3,355 |
226,563 | |
3,881,033 | |||
Real
Estate Management & Development - 0.2% |
|||
Zillow
Group, Inc. Class C (a) |
4,810 |
260,510 | |
TOTAL REAL ESTATE |
4,141,543 | ||
UTILITIES
- 2.6% |
|||
Electric
Utilities - 1.3% |
|||
Constellation
Energy Corp. |
5,057 |
488,759 | |
NextEra
Energy, Inc. |
11,280 |
826,824 | |
PG&E
Corp. (a) |
23,487 |
413,606 | |
PNM
Resources, Inc. |
6,660 |
298,501 | |
2,027,690 | |||
Gas
Utilities - 0.2% |
|||
New
Jersey Resources Corp. |
6,288 |
281,074 | |
Independent
Power and Renewable Electricity Producers - 0.2% |
|||
The
AES Corp. |
15,942 |
344,825 | |
Multi-Utilities
- 0.6% |
|||
Consolidated
Edison, Inc. (b) |
4,377 |
415,202 | |
Sempra
Energy |
3,126 |
465,837 | |
881,039 | |||
Water
Utilities - 0.3% |
|||
American
Water Works Co., Inc. |
2,758 |
406,612 | |
TOTAL UTILITIES |
3,941,240 | ||
TOTAL
COMMON STOCKS
(Cost
$132,445,827) |
152,535,428 | ||
Money
Market Funds - 0.6% | |||
Shares |
Value
($)
| ||
Fidelity
Cash Central Fund 5.32% (c) |
267,644 |
267,697 | |
Fidelity
Securities Lending Cash Central Fund 5.32% (c)(d) |
632,637 |
632,700 | |
TOTAL
MONEY MARKET FUNDS
(Cost
$900,397) |
900,397 | ||
TOTAL
INVESTMENT IN SECURITIES - 100.4%
(Cost
$133,346,224)
|
153,435,825 |
NET
OTHER ASSETS (LIABILITIES) - (0.4)% |
(605,010) |
NET
ASSETS - 100.0% |
152,830,815 |
Futures
Contracts | |||||
Number
of
contracts |
Expiration
Date |
Notional
Amount
($)
|
Value
($)
|
Unrealized
Appreciation/
(Depreciation)
($)
| |
Purchased |
|||||
Equity
Index Contracts |
|||||
CME
Micro E-mini S&P 500 Index Contracts (United States) |
12 |
Sep
2023 |
276,870 |
14,984 |
14,984 |
The
notional amount of futures purchased as a percentage of Net Assets is
0.2% |
(a) |
Non-income
producing
|
(b) |
Security
or a portion of the security is on loan at period end.
|
(c) |
Affiliated
fund that is generally available only to investment companies and other
accounts managed by Fidelity Investments. The rate quoted is the
annualized seven-day yield of the fund at period end. A complete unaudited
listing of the fund's holdings as of its most recent quarter end is
available upon request. In addition, each Fidelity Central Fund's
financial statements, which are not covered by the Fund's Report of
Independent Registered Public Accounting Firm, are available on the SEC's
website or upon request.
|
(d) |
Investment
made with cash collateral received from securities on loan.
|
Affiliate
|
Value,
beginning
of
period ($) |
Purchases
($) |
Sales
Proceeds
($) |
Dividend
Income
($) |
Realized
Gain
(loss) ($) |
Change
in
Unrealized
appreciation
(depreciation)
($) |
Value,
end
of
period ($) |
%
ownership,
end
of
period |
Fidelity
Cash Central Fund 5.32% |
180,280 |
5,140,550 |
5,053,133 |
10,750 |
- |
- |
267,697 |
0.0% |
Fidelity
Securities Lending Cash Central Fund 5.32% |
1,004,850 |
9,007,233 |
9,379,383 |
1,346 |
- |
- |
632,700 |
0.0% |
Total |
1,185,130 |
14,147,783 |
14,432,516 |
12,096 |
- |
- |
900,397 |
|
Valuation
Inputs at Reporting Date: | ||||
Description |
Total
($) |
Level
1 ($) |
Level
2 ($) |
Level
3 ($) |
Investments
in Securities: |
||||
Equities: |
||||
Communication
Services |
13,351,428 |
13,351,428 |
- |
- |
Consumer
Discretionary |
14,518,782 |
14,518,782 |
- |
- |
Consumer
Staples |
9,519,308 |
9,519,308 |
- |
- |
Energy |
6,857,348 |
6,857,348 |
- |
- |
Financials |
19,429,340 |
19,429,340 |
- |
- |
Health
Care |
18,198,022 |
18,198,022 |
- |
- |
Industrials |
14,693,266 |
14,693,266 |
- |
- |
Information
Technology |
43,470,875 |
43,470,875 |
- |
- |
Materials |
4,414,276 |
4,414,276 |
- |
- |
Real
Estate |
4,141,543 |
4,141,543 |
- |
- |
Utilities |
3,941,240 |
3,941,240 |
- |
- |
Money Market
Funds |
900,397 |
900,397 |
- |
- |
Total Investments in Securities: |
153,435,825 |
153,435,825 |
- |
- |
Derivative
Instruments: |
||||
Assets |
||||
Futures
Contracts |
14,984 |
14,984 |
- |
- |
Total
Assets |
14,984 |
14,984 |
- |
- |
Total Derivative Instruments: |
14,984 |
14,984 |
- |
- |
Primary
Risk Exposure / Derivative Type
|
Value | |
Asset
($) |
Liability
($) | |
Equity
Risk |
||
Futures
Contracts (a) |
14,984 |
0 |
Total
Equity Risk |
14,984 |
0 |
Total
Value of Derivatives |
14,984 |
0 |
Statement
of Assets and Liabilities | ||||
July
31, 2023 | ||||
Assets
|
||||
Investment
in securities, at value (including securities loaned of $613,776) - See accompanying
schedule: |
||||
Unaffiliated issuers (cost
$132,445,827) |
$ |
152,535,428 |
||
Fidelity Central Funds (cost
$900,397) |
900,397 |
|||
Total
Investment in Securities (cost $133,346,224) |
$ |
153,435,825 | ||
Segregated
cash with brokers for derivative instruments |
13,440 | |||
Dividends
receivable |
49,344 | |||
Distributions
receivable from Fidelity Central Funds |
899 | |||
Receivable
for daily variation margin on futures contracts |
480 | |||
Total assets |
153,499,988 | |||
Liabilities |
||||
Accrued
management fee |
$ |
36,473 |
||
Collateral
on securities loaned |
632,700 |
|||
Total
Liabilities |
669,173 | |||
Net
Assets |
$ |
152,830,815 | ||
Net
Assets consist of: |
||||
Paid
in capital |
$ |
165,302,152 | ||
Total
accumulated earnings (loss) |
(12,471,337) | |||
Net
Assets |
$ |
152,830,815 | ||
Net
Asset Value,
offering price and redemption price per share ($152,830,815 ÷ 3,100,000
shares) |
$ |
49.30 |
Statement
of Operations | ||||
Year
ended
July
31, 2023 | ||||
Investment
Income |
||||
Dividends
|
$ |
1,809,469 | ||
Income
from Fidelity Central Funds (including $1,346 from security lending)
|
12,096 | |||
Total Income |
1,821,565 | |||
Expenses |
||||
Management
fee |
$ |
357,227 |
||
Independent
trustees' fees and expenses |
606 |
|||
Total expenses before reductions |
357,833 |
|||
Expense reductions |
(609) |
|||
Total expenses after reductions |
357,224 | |||
Net
Investment income (loss) |
1,464,341 | |||
Realized
and Unrealized Gain (Loss) |
||||
Net
realized gain (loss) on: |
||||
Investment Securities: |
||||
Unaffiliated issuers |
(6,064,059) |
|||
Redemptions in-kind |
3,256,474 |
|||
Futures contracts |
14,499 |
|||
Total
net realized gain (loss) |
(2,793,086) | |||
Change
in net unrealized appreciation (depreciation) on: |
||||
Investment Securities: |
||||
Unaffiliated issuers |
13,282,846 |
|||
Futures contracts |
(2,634) |
|||
Total
change in net unrealized appreciation (depreciation) |
13,280,212 | |||
Net
gain (loss) |
10,487,126 | |||
Net
increase (decrease) in net assets resulting from
operations |
$ |
11,951,467 |
Statement
of Changes in Net Assets | ||||
Year
ended
July
31, 2023 |
Year
ended
July
31, 2022 | |||
Increase
(Decrease) in Net Assets |
||||
Operations |
||||
Net
investment income (loss) |
$ |
1,464,341 |
$ |
1,047,146 |
Net
realized gain (loss) |
(2,793,086)
|
9,388,516
| ||
Change
in net unrealized appreciation (depreciation) |
13,280,212 |
(18,448,115)
| ||
Net
increase (decrease) in net assets resulting from
operations |
11,951,467
|
(8,012,453)
| ||
Distributions
to shareholders |
(1,506,200)
|
(999,550)
| ||
Share
transactions |
||||
Proceeds
from sales of shares |
52,044,612 |
86,253,555 | ||
Cost
of shares redeemed |
(26,407,433) |
(117,256,850) | ||
Net increase (decrease) in net assets resulting from share
transactions |
25,637,179
|
(31,003,295)
| ||
Total
increase (decrease) in net assets |
36,082,446
|
(40,015,298)
| ||
Net
Assets |
||||
Beginning
of period |
116,748,369 |
156,763,667
| ||
End
of period |
$ |
152,830,815 |
$ |
116,748,369 |
Other
Information |
||||
Shares |
||||
Sold |
1,150,000 |
1,700,000 | ||
Redeemed |
(600,000) |
(2,300,000) | ||
Net
increase (decrease) |
550,000 |
(600,000) | ||
Fidelity®
Momentum Factor ETF |
Years
ended July 31, |
2023
|
2022 |
2021 |
2020 |
2019 | |||||
Selected Per-Share
Data |
||||||||||
Net asset value, beginning
of period |
$ |
45.78 |
$ |
49.77 |
$ |
39.26 |
$ |
35.80 |
$ |
33.58 |
Income from Investment
Operations |
||||||||||
Net investment income (loss) A,B |
.53
|
.43
|
.25
|
.42
|
.40
| |||||
Net realized and unrealized gain (loss)
|
3.53
|
(4.01)
|
10.54
|
3.47
|
2.22
| |||||
Total from investment
operations |
4.06
|
(3.58)
|
10.79
|
3.89
|
2.62
| |||||
Distributions from net
investment income |
(.54)
|
(.41)
|
(.28)
|
(.43)
|
(.40)
| |||||
Total distributions |
(.54)
|
(.41)
|
(.28)
|
(.43)
|
(.40)
| |||||
Net asset value, end of
period |
$ |
49.30 |
$ |
45.78 |
$ |
49.77 |
$ |
39.26 |
$ |
35.80 |
Total Return C,D |
9.02%
|
(7.20)%
|
27.58%
|
11.06%
|
7.91%
| |||||
Ratios to Average Net Assets B,E,F |
||||||||||
Expenses before reductions
|
.29%
|
.29%
|
.29%
|
.29%
|
.29%
| |||||
Expenses net of fee
waivers, if any |
.29%
|
.29%
|
.29%
|
.29%
|
.29%
| |||||
Expenses net of all
reductions |
.29%
|
.29%
|
.29%
|
.29%
|
.29%
| |||||
Net investment income
(loss) |
1.19%
|
.88%
|
.55%
|
1.18%
|
1.18%
| |||||
Supplemental Data |
||||||||||
Net assets, end of period
(000 omitted) |
$ |
152,831 |
$ |
116,748 |
$ |
156,764 |
$ |
88,329 |
$ |
121,736 |
Portfolio turnover rate
G,H |
137%
|
123%
|
128%
|
138%
|
133%
|
Average
Annual Total Returns | |||
Periods
ended July 31, 2023
|
Past
1
year |
Past
5
years |
Life
of
Fund
|
Fidelity®
Quality Factor ETF - NAV A |
10.46% |
11.06% |
12.82% |
Fidelity®
Quality Factor ETF - Market Price B |
10.22% |
11.03% |
12.86% |
Fidelity
U.S. Quality Factor Index℠ A |
10.75% |
11.37% |
13.15% |
Russell
1000® Index A |
12.95% |
11.92% |
13.38% |
$10,000 Over Life of Fund |
Let's
say hypothetically that $10,000 was invested in Fidelity® Quality Factor
ETF - NAV, on September 12, 2016, when the fund started.
The
chart shows how the value of your investment would have changed, and also
shows how the Fidelity U.S. Quality Factor Index℠ and Russell 1000® Index
performed over the same period. |
![]() |
Top
Holdings (% of Fund's net
assets) | ||
Apple,
Inc. |
7.8 |
|
Microsoft
Corp. |
6.7 |
|
Alphabet,
Inc. Class A |
3.9 |
|
Tesla,
Inc. |
2.5 |
|
Meta
Platforms, Inc. Class A |
2.1 |
|
Broadcom,
Inc. |
1.8 |
|
UnitedHealth
Group, Inc. |
1.8 |
|
Johnson
& Johnson |
1.7 |
|
Visa,
Inc. Class A |
1.6 |
|
Adobe,
Inc. |
1.5 |
|
31.4 |
||
Market
Sectors (% of Fund's net assets) | ||
Information
Technology |
26.2 |
|
Financials |
13.7 |
|
Health
Care |
12.2 |
|
Consumer
Discretionary |
11.5 |
|
Industrials |
9.8 |
|
Communication
Services |
8.6 |
|
Consumer
Staples |
5.7 |
|
Energy |
4.3 |
|
Materials |
2.8 |
|
Real
Estate |
2.5 |
|
Utilities |
2.5 |
|
Asset
Allocation (% of Fund's net assets)
|
![]() |
Futures - 0.2% |
Common
Stocks - 99.8% | |||
Shares |
Value
($)
| ||
COMMUNICATION
SERVICES - 8.6% |
|||
Diversified
Telecommunication Services - 1.2% |
|||
AT&T,
Inc. |
95,753 |
1,390,334 | |
Liberty
Global PLC Class A (a) |
41,288 |
766,718 | |
Verizon
Communications, Inc. |
52,144 |
1,777,068 | |
3,934,120 | |||
Entertainment
- 0.4% |
|||
Activision
Blizzard, Inc. |
16,253 |
1,507,628 | |
Interactive
Media & Services - 6.0% |
|||
Alphabet,
Inc. Class A (a) |
94,750 |
12,575,220 | |
Meta
Platforms, Inc. Class A (a) |
21,691 |
6,910,753 | |
19,485,973 | |||
Media
- 1.0% |
|||
Comcast
Corp. Class A |
53,387 |
2,416,296 | |
Nexstar
Broadcasting Group, Inc. Class A |
4,196 |
783,477 | |
3,199,773 | |||
TOTAL COMMUNICATION
SERVICES |
28,127,494 | ||
CONSUMER
DISCRETIONARY - 11.5% |
|||
Automobiles
- 2.5% |
|||
Tesla,
Inc. (a) |
30,589 |
8,180,416 | |
Hotels,
Restaurants & Leisure - 4.4% |
|||
Airbnb,
Inc. Class A (a) |
18,869 |
2,871,673 | |
Booking
Holdings, Inc. (a) |
1,061 |
3,152,019 | |
Domino's
Pizza, Inc. |
5,469 |
2,169,771 | |
McDonald's
Corp. |
12,748 |
3,737,714 | |
Yum!
Brands, Inc. |
16,780 |
2,310,103 | |
14,241,280 | |||
Specialty
Retail - 3.8% |
|||
AutoZone,
Inc. (a) |
912 |
2,263,329 | |
Lowe's
Companies, Inc. |
13,228 |
3,098,924 | |
O'Reilly
Automotive, Inc. (a) |
2,806 |
2,597,767 | |
The
Home Depot, Inc. |
13,385 |
4,468,448 | |
12,428,468 | |||
Textiles,
Apparel & Luxury Goods - 0.8% |
|||
NIKE,
Inc. Class B |
24,202 |
2,671,659 | |
TOTAL CONSUMER
DISCRETIONARY |
37,521,823 | ||
CONSUMER
STAPLES - 5.7% |
|||
Beverages
- 1.5% |
|||
Brown-Forman
Corp. Class B (non-vtg.) |
21,554 |
1,521,712 | |
The
Coca-Cola Co. |
52,255 |
3,236,152 | |
4,757,864 | |||
Food
Products - 0.5% |
|||
The
Hershey Co. |
6,872 |
1,589,562 | |
Household
Products - 2.4% |
|||
Colgate-Palmolive
Co. |
24,684 |
1,882,402 | |
Kimberly-Clark
Corp. |
12,936 |
1,670,038 | |
Procter
& Gamble Co. |
27,686 |
4,327,322 | |
7,879,762 | |||
Tobacco
- 1.3% |
|||
Altria
Group, Inc. |
42,449 |
1,928,034 | |
Philip
Morris International, Inc. |
24,926 |
2,485,621 | |
4,413,655 | |||
TOTAL CONSUMER STAPLES |
18,640,843 | ||
ENERGY
- 4.3% |
|||
Oil,
Gas & Consumable Fuels - 4.3% |
|||
APA
Corp. |
17,522 |
709,466 | |
Chevron
Corp. |
17,455 |
2,856,685 | |
ConocoPhillips
Co. |
15,315 |
1,802,882 | |
Coterra
Energy, Inc. |
31,837 |
876,791 | |
EOG
Resources, Inc. |
9,626 |
1,275,734 | |
Exxon
Mobil Corp. |
37,407 |
4,011,527 | |
Marathon
Oil Corp. |
29,220 |
767,609 | |
Occidental
Petroleum Corp. |
15,793 |
997,012 | |
Texas
Pacific Land Corp. |
377 |
567,875 | |
13,865,581 | |||
FINANCIALS
- 13.7% |
|||
Banks
- 2.4% |
|||
Comerica,
Inc. |
32,257 |
1,740,588 | |
East
West Bancorp, Inc. |
30,752 |
1,913,082 | |
Popular,
Inc. |
33,675 |
2,443,121 | |
Western
Alliance Bancorp. |
29,888 |
1,552,682 | |
7,649,473 | |||
Capital
Markets - 3.5% |
|||
Ameriprise
Financial, Inc. |
7,549 |
2,630,449 | |
Blackstone,
Inc. |
28,796 |
3,017,533 | |
CME
Group, Inc. |
16,064 |
3,196,093 | |
MSCI,
Inc. |
4,732 |
2,593,515 | |
11,437,590 | |||
Consumer
Finance - 0.7% |
|||
Discover
Financial Services |
21,944 |
2,316,189 | |
Financial
Services - 3.9% |
|||
Essent
Group Ltd. |
53,660 |
2,661,536 | |
MasterCard,
Inc. Class A |
12,252 |
4,830,719 | |
Visa,
Inc. Class A |
21,922 |
5,211,517 | |
12,703,772 | |||
Insurance
- 3.2% |
|||
Aon
PLC |
8,836 |
2,814,266 | |
Kinsale
Capital Group, Inc. |
8,436 |
3,143,507 | |
Principal
Financial Group, Inc. |
26,954 |
2,152,816 | |
RLI
Corp. |
18,276 |
2,438,201 | |
10,548,790 | |||
TOTAL FINANCIALS |
44,655,814 | ||
HEALTH
CARE - 12.2% |
|||
Biotechnology
- 4.6% |
|||
AbbVie,
Inc. |
28,599 |
4,277,838 | |
Amgen,
Inc. |
12,916 |
3,024,281 | |
Moderna,
Inc. (a) |
14,861 |
1,748,545 | |
Regeneron
Pharmaceuticals, Inc. (a) |
3,715 |
2,756,196 | |
Vertex
Pharmaceuticals, Inc. (a) |
9,128 |
3,216,160 | |
15,023,020 | |||
Health
Care Providers & Services - 1.8% |
|||
UnitedHealth
Group, Inc. |
11,799 |
5,974,660 | |
Life
Sciences Tools & Services - 1.2% |
|||
Mettler-Toledo
International, Inc. (a) |
1,543 |
1,940,276 | |
Waters
Corp. (a) |
6,770 |
1,869,942 | |
3,810,218 | |||
Pharmaceuticals
- 4.6% |
|||
Johnson
& Johnson |
33,227 |
5,566,519 | |
Merck
& Co., Inc. |
40,495 |
4,318,792 | |
Pfizer,
Inc. |
92,172 |
3,323,722 | |
Royalty
Pharma PLC |
58,724 |
1,842,759 | |
15,051,792 | |||
TOTAL HEALTH CARE |
39,859,690 | ||
INDUSTRIALS
- 9.8% |
|||
Aerospace
& Defense - 0.6% |
|||
Lockheed
Martin Corp. |
4,617 |
2,060,890 | |
Air
Freight & Logistics - 1.2% |
|||
Expeditors
International of Washington, Inc. |
12,088 |
1,538,802 | |
United
Parcel Service, Inc. Class B |
12,362 |
2,313,301 | |
3,852,103 | |||
Commercial
Services & Supplies - 1.1% |
|||
Cintas
Corp. |
3,567 |
1,790,777 | |
Copart,
Inc. (a) |
21,813 |
1,928,051 | |
3,718,828 | |||
Electrical
Equipment - 0.5% |
|||
Atkore,
Inc. (a) |
9,470 |
1,502,605 | |
Ground
Transportation - 2.8% |
|||
CSX
Corp. |
55,743 |
1,857,357 | |
Landstar
System, Inc. |
7,311 |
1,488,446 | |
Norfolk
Southern Corp. |
6,847 |
1,599,391 | |
Old
Dominion Freight Lines, Inc. |
4,173 |
1,750,532 | |
Union
Pacific Corp. |
10,779 |
2,500,944 | |
9,196,670 | |||
Industrial
Conglomerates - 0.7% |
|||
Honeywell
International, Inc. |
11,398 |
2,212,694 | |
Machinery
- 0.6% |
|||
Illinois
Tool Works, Inc. |
7,304 |
1,923,289 | |
Professional
Services - 1.3% |
|||
Paychex,
Inc. |
20,270 |
2,543,277 | |
Verisk
Analytics, Inc. |
8,107 |
1,856,017 | |
4,399,294 | |||
Trading
Companies & Distributors - 1.0% |
|||
Fastenal
Co. |
27,756 |
1,626,779 | |
W.W.
Grainger, Inc. |
2,258 |
1,667,510 | |
3,294,289 | |||
TOTAL INDUSTRIALS |
32,160,662 | ||
INFORMATION
TECHNOLOGY - 26.2% |
|||
Communications
Equipment - 1.2% |
|||
Cisco
Systems, Inc. |
75,095 |
3,907,944 | |
IT
Services - 1.2% |
|||
Accenture
PLC Class A |
12,144 |
3,841,754 | |
Semiconductors
& Semiconductor Equipment - 6.0% |
|||
Applied
Materials, Inc. |
23,891 |
3,621,637 | |
Broadcom,
Inc. |
6,657 |
5,982,313 | |
KLA
Corp. |
6,272 |
3,223,494 | |
Lam
Research Corp. |
5,016 |
3,603,946 | |
Texas
Instruments, Inc. |
18,599 |
3,347,820 | |
19,779,210 | |||
Software
- 10.0% |
|||
Adobe,
Inc. (a) |
9,047 |
4,941,200 | |
Cadence
Design Systems, Inc. (a) |
13,453 |
3,148,137 | |
Fair
Isaac Corp. (a) |
3,301 |
2,766,139 | |
Microsoft
Corp. |
65,428 |
21,978,574 | |
32,834,050 | |||
Technology
Hardware, Storage & Peripherals - 7.8% |
|||
Apple,
Inc. |
129,208 |
25,382,905 | |
TOTAL INFORMATION
TECHNOLOGY |
85,745,863 | ||
MATERIALS
- 2.8% |
|||
Chemicals
- 1.6% |
|||
CF
Industries Holdings, Inc. |
7,559 |
620,443 | |
Dow,
Inc. |
14,009 |
791,088 | |
Linde
PLC |
5,352 |
2,090,866 | |
LyondellBasell
Industries NV Class A |
7,292 |
720,887 | |
Olin
Corp. |
9,142 |
527,311 | |
The
Mosaic Co. |
12,734 |
519,038 | |
5,269,633 | |||
Construction
Materials - 0.2% |
|||
Eagle
Materials, Inc. |
3,691 |
680,510 | |
Metals
& Mining - 1.0% |
|||
Freeport-McMoRan,
Inc. |
22,765 |
1,016,457 | |
Nucor
Corp. |
4,885 |
840,660 | |
Reliance
Steel & Aluminum Co. |
2,643 |
774,029 | |
Steel
Dynamics, Inc. |
5,375 |
572,868 | |
3,204,014 | |||
TOTAL MATERIALS |
9,154,157 | ||
REAL
ESTATE - 2.5% |
|||
Equity
Real Estate Investment Trusts (REITs) - 2.5% |
|||
Agree
Realty Corp. |
8,170 |
529,253 | |
Essex
Property Trust, Inc. |
2,862 |
697,040 | |
Extra
Space Storage, Inc. |
4,459 |
622,343 | |
Gaming
& Leisure Properties |
12,390 |
588,029 | |
NNN
(REIT), Inc. |
13,134 |
560,559 | |
Prologis
(REIT), Inc. |
11,257 |
1,404,311 | |
Public
Storage |
3,012 |
848,631 | |
Realty
Income Corp. |
13,065 |
796,573 | |
Simon
Property Group, Inc. |
6,760 |
842,296 | |
VICI
Properties, Inc. |
23,599 |
742,897 | |
WP
Carey, Inc. |
8,254 |
557,393 | |
8,189,325 | |||
UTILITIES
- 2.5% |
|||
Electric
Utilities - 1.6% |
|||
FirstEnergy
Corp. |
20,692 |
815,058 | |
IDACORP,
Inc. |
6,589 |
677,481 | |
NextEra
Energy, Inc. |
24,243 |
1,777,012 | |
NRG
Energy, Inc. |
21,151 |
803,526 | |
Southern
Co. |
18,247 |
1,319,988 | |
5,393,065 | |||
Gas
Utilities - 0.4% |
|||
National
Fuel Gas Co. |
12,386 |
657,820 | |
ONE
Gas, Inc. (b) |
8,495 |
672,209 | |
1,330,029 | |||
Independent
Power and Renewable Electricity Producers - 0.2% |
|||
Clearway
Energy, Inc. Class C |
20,548 |
542,673 | |
Multi-Utilities
- 0.3% |
|||
WEC
Energy Group, Inc. |
9,568 |
859,780 | |
TOTAL UTILITIES |
8,125,547 | ||
TOTAL
COMMON STOCKS
(Cost
$297,911,498) |
326,046,799 | ||
Money
Market Funds - 0.2% | |||
Shares |
Value
($)
| ||
Fidelity
Cash Central Fund 5.32% (c) |
508,726 |
508,828 | |
Fidelity
Securities Lending Cash Central Fund 5.32% (c)(d) |
161,984 |
162,000 | |
TOTAL
MONEY MARKET FUNDS
(Cost
$670,828) |
670,828 | ||
TOTAL
INVESTMENT IN SECURITIES - 100.0%
(Cost
$298,582,326)
|
326,717,627 |
NET
OTHER ASSETS (LIABILITIES) - 0.0% |
124,912 |
NET
ASSETS - 100.0% |
326,842,539 |
Futures
Contracts | |||||
Number
of
contracts |
Expiration
Date |
Notional
Amount
($)
|
Value
($)
|
Unrealized
Appreciation/
(Depreciation)
($)
| |
Purchased |
|||||
Equity
Index Contracts |
|||||
CME
Micro E-mini S&P 500 Index Contracts (United States) |
25 |
Sep
2023 |
576,813 |
36,579 |
36,579 |
The
notional amount of futures purchased as a percentage of Net Assets is
0.2% |
(a) |
Non-income
producing
|
(b) |
Security
or a portion of the security is on loan at period end.
|
(c) |
Affiliated
fund that is generally available only to investment companies and other
accounts managed by Fidelity Investments. The rate quoted is the
annualized seven-day yield of the fund at period end. A complete unaudited
listing of the fund's holdings as of its most recent quarter end is
available upon request. In addition, each Fidelity Central Fund's
financial statements, which are not covered by the Fund's Report of
Independent Registered Public Accounting Firm, are available on the SEC's
website or upon request.
|
(d) |
Investment
made with cash collateral received from securities on loan.
|
Affiliate
|
Value,
beginning
of
period ($) |
Purchases
($) |
Sales
Proceeds
($) |
Dividend
Income
($) |
Realized
Gain
(loss) ($) |
Change
in
Unrealized
appreciation
(depreciation)
($) |
Value,
end
of
period ($) |
%
ownership,
end
of
period |
Fidelity
Cash Central Fund 5.32% |
291,681 |
6,686,052 |
6,468,905 |
15,656 |
- |
- |
508,828 |
0.0% |
Fidelity
Securities Lending Cash Central Fund 5.32% |
3,524,275 |
24,641,385 |
28,003,660 |
37,353 |
- |
- |
162,000 |
0.0% |
Total |
3,815,956 |
31,327,437 |
34,472,565 |
53,009 |
- |
- |
670,828 |
|
Valuation
Inputs at Reporting Date: | ||||
Description |
Total
($) |
Level
1 ($) |
Level
2 ($) |
Level
3 ($) |
Investments
in Securities: |
||||
Equities: |
||||
Communication
Services |
28,127,494 |
28,127,494 |
- |
- |
Consumer
Discretionary |
37,521,823 |
37,521,823 |
- |
- |
Consumer
Staples |
18,640,843 |
18,640,843 |
- |
- |
Energy |
13,865,581 |
13,865,581 |
- |
- |
Financials |
44,655,814 |
44,655,814 |
- |
- |
Health
Care |
39,859,690 |
39,859,690 |
- |
- |
Industrials |
32,160,662 |
32,160,662 |
- |
- |
Information
Technology |
85,745,863 |
85,745,863 |
- |
- |
Materials |
9,154,157 |
9,154,157 |
- |
- |
Real
Estate |
8,189,325 |
8,189,325 |
- |
- |
Utilities |
8,125,547 |
8,125,547 |
- |
- |
Money Market
Funds |
670,828 |
670,828 |
- |
- |
Total Investments in Securities: |
326,717,627 |
326,717,627 |
- |
- |
Derivative
Instruments: |
||||
Assets |
||||
Futures
Contracts |
36,579 |
36,579 |
- |
- |
Total
Assets |
36,579 |
36,579 |
- |
- |
Total Derivative Instruments: |
36,579 |
36,579 |
- |
- |
Primary
Risk Exposure / Derivative Type
|
Value | |
Asset
($) |
Liability
($) | |
Equity
Risk |
||
Futures
Contracts (a) |
36,579 |
0 |
Total
Equity Risk |
36,579 |
0 |
Total
Value of Derivatives |
36,579 |
0 |
Statement
of Assets and Liabilities | ||||
July
31, 2023 | ||||
Assets
|
||||
Investment
in securities, at value (including securities loaned of $158,260) - See accompanying
schedule: |
||||
Unaffiliated issuers (cost
$297,911,498) |
$ |
326,046,799 |
||
Fidelity Central Funds (cost
$670,828) |
670,828 |
|||
Total
Investment in Securities (cost $298,582,326) |
$ |
326,717,627 | ||
Segregated
cash with brokers for derivative instruments |
28,000 | |||
Cash |
13,159 | |||
Dividends
receivable |
319,968 | |||
Distributions
receivable from Fidelity Central Funds |
2,020 | |||
Receivable
for daily variation margin on futures contracts |
1,000 | |||
Total assets |
327,081,774 | |||
Liabilities |
||||
Accrued
management fee |
$ |
77,235 |
||
Collateral
on securities loaned |
162,000 |
|||
Total
Liabilities |
239,235 | |||
Net
Assets |
$ |
326,842,539 | ||
Net
Assets consist of: |
||||
Paid
in capital |
$ |
322,500,604 | ||
Total
accumulated earnings (loss) |
4,341,935 | |||
Net
Assets |
$ |
326,842,539 | ||
Net
Asset Value,
offering price and redemption price per share ($326,842,539 ÷ 6,250,000
shares) |
$ |
52.29 |
Statement
of Operations | ||||
Year
ended
July
31, 2023 | ||||
Investment
Income |
||||
Dividends
|
$ |
4,931,626 | ||
Income
from Fidelity Central Funds (including $37,353 from security lending)
|
53,009 | |||
Total Income |
4,984,635 | |||
Expenses |
||||
Management
fee |
$ |
787,289 |
||
Independent
trustees' fees and expenses |
1,350 |
|||
Total expenses before reductions |
788,639 |
|||
Expense reductions |
(294) |
|||
Total expenses after reductions |
788,345 | |||
Net
Investment income (loss) |
4,196,290 | |||
Realized
and Unrealized Gain (Loss) |
||||
Net
realized gain (loss) on: |
||||
Investment Securities: |
||||
Unaffiliated issuers |
(5,689,837) |
|||
Redemptions in-kind |
6,599,514 |
|||
Futures contracts |
138,542 |
|||
Total
net realized gain (loss) |
1,048,219 | |||
Change
in net unrealized appreciation (depreciation) on: |
||||
Investment Securities: |
||||
Unaffiliated issuers |
25,939,079 |
|||
Futures contracts |
3,454 |
|||
Total
change in net unrealized appreciation (depreciation) |
25,942,533 | |||
Net
gain (loss) |
26,990,752 | |||
Net
increase (decrease) in net assets resulting from
operations |
$ |
31,187,042 |
Statement
of Changes in Net Assets | ||||
Year
ended
July
31, 2023 |
Year
ended
July
31, 2022 | |||
Increase
(Decrease) in Net Assets |
||||
Operations |
||||
Net
investment income (loss) |
$ |
4,196,290 |
$ |
3,315,679 |
Net
realized gain (loss) |
1,048,219
|
31,054,201
| ||
Change
in net unrealized appreciation (depreciation) |
25,942,533 |
(49,818,448)
| ||
Net
increase (decrease) in net assets resulting from
operations |
31,187,042
|
(15,448,568)
| ||
Distributions
to shareholders |
(4,025,350)
|
(3,437,350)
| ||
Share
transactions |
||||
Proceeds
from sales of shares |
68,034,031 |
184,056,355 | ||
Cost
of shares redeemed |
(35,066,993) |
(144,177,423) | ||
Net increase (decrease) in net assets resulting from share
transactions |
32,967,038
|
39,878,932
| ||
Total
increase (decrease) in net assets |
60,128,730
|
20,993,014
| ||
Net
Assets |
||||
Beginning
of period |
266,713,809 |
245,720,795
| ||
End
of period |
$ |
326,842,539 |
$ |
266,713,809 |
Other
Information |
||||
Shares |
||||
Sold |
1,450,000 |
3,600,000 | ||
Redeemed |
(750,000) |
(2,850,000) | ||
Net
increase (decrease) |
700,000 |
750,000 | ||
Fidelity®
Quality Factor ETF |
Years
ended July 31, |
2023
|
2022 |
2021 |
2020 |
2019 | |||||
Selected Per-Share
Data |
||||||||||
Net asset value, beginning
of period |
$ |
48.06 |
$ |
51.19 |
$ |
38.19 |
$ |
35.28 |
$ |
33.47 |
Income from Investment
Operations |
||||||||||
Net investment income (loss) A,B |
.72
|
.67
|
.62
|
.62
|
.58
| |||||
Net realized and unrealized gain (loss)
|
4.20
|
(3.10)
|
13.00
|
2.90
|
1.77
| |||||
Total from investment
operations |
4.92
|
(2.43)
|
13.62
|
3.52
|
2.35
| |||||
Distributions from net
investment income |
(.69)
|
(.70)
|
(.62)
|
(.61)
|
(.54)
| |||||
Total distributions |
(.69)
|
(.70)
|
(.62)
|
(.61)
|
(.54)
| |||||
Net asset value, end of
period |
$ |
52.29 |
$ |
48.06 |
$ |
51.19 |
$ |
38.19 |
$ |
35.28 |
Total Return C,D |
10.46%
|
(4.79)%
|
36.00%
|
10.26%
|
7.14%
| |||||
Ratios to Average Net Assets B,E,F |
||||||||||
Expenses before reductions
|
.29%
|
.29%
|
.29%
|
.29%
|
.29%
| |||||
Expenses net of fee
waivers, if any |
.29%
|
.29%
|
.29%
|
.29%
|
.29%
| |||||
Expenses net of all
reductions |
.29%
|
.29%
|
.29%
|
.29%
|
.29%
| |||||
Net investment income
(loss) |
1.54%
|
1.33%
|
1.39%
|
1.74%
|
1.72%
| |||||
Supplemental Data |
||||||||||
Net assets, end of period
(000 omitted) |
$ |
326,843 |
$ |
266,714 |
$ |
245,721 |
$ |
147,022 |
$ |
162,282 |
Portfolio turnover rate
G,H |
43%
|
38%
|
35%
|
41%
|
29%
|
Average
Annual Total Returns | |||
Periods
ended July 31, 2023
|
Past
1
year |
Life
of
Fund
|
Fidelity®
Small-Mid Multifactor ETF - NAV A |
7.92% |
9.49% |
Fidelity®
Small-Mid Multifactor ETF - Market Price B |
7.79% |
9.43% |
Fidelity
Small-Mid Multifactor Index℠ A |
8.23% |
9.83% |
Dow
Jones U.S. Completion Total Stock Market Index℠ A |
10.44% |
8.26% |
$10,000 Over Life of Fund |
Let's
say hypothetically that $10,000 was invested in Fidelity® Small-Mid
Multifactor ETF - NAV, on February 26, 2019, when the fund
started.
The
chart shows how the value of your investment would have changed, and also
shows how the Fidelity Small-Mid Multifactor Index℠ and Dow Jones U.S.
Completion Total Stock Market Index℠ performed over the same
period. |
![]() |
Top
Holdings (% of Fund's net
assets) | ||
Super
Micro Computer, Inc. |
0.6 |
|
First
Citizens Bancshares, Inc. |
0.5 |
|
EQT
Corp. |
0.4 |
|
Jabil,
Inc. |
0.4 |
|
Deckers
Outdoor Corp. |
0.4 |
|
Dell
Technologies, Inc. |
0.3 |
|
Owens
Corning |
0.3 |
|
RPM
International, Inc. |
0.3 |
|
Brown-Forman
Corp. Class B (non-vtg.) |
0.3 |
|
Manhattan
Associates, Inc. |
0.3 |
|
3.8 |
||
Market
Sectors (% of Fund's net assets) | ||
Industrials |
18.7 |
|
Financials |
15.2 |
|
Consumer
Discretionary |
14.1 |
|
Information
Technology |
13.8 |
|
Health
Care |
12.5 |
|
Real
Estate |
6.0 |
|
Materials |
5.0 |
|
Energy |
4.8 |
|
Consumer
Staples |
3.8 |
|
Communication
Services |
3.1 |
|
Utilities |
2.6 |
|
Asset
Allocation (% of Fund's net assets)
|
![]() |
Futures - 0.3% |
Common
Stocks - 99.6% | |||
Shares |
Value
($)
| ||
COMMUNICATION
SERVICES - 3.1% |
|||
Diversified
Telecommunication Services - 0.7% |
|||
Cogent
Communications Group, Inc. |
2,473 |
151,447 | |
Frontier
Communications Parent, Inc. (a) |
8,417 |
153,274 | |
Iridium
Communications, Inc. |
4,548 |
238,997 | |
Liberty
Global PLC Class C (a) |
14,005 |
276,739 | |
Lumen
Technologies, Inc. |
39,877 |
71,380 | |
891,837 | |||
Entertainment
- 0.5% |
|||
Madison
Square Garden Sports Corp. |
992 |
211,048 | |
Sciplay
Corp. (A Shares) (a) |
7,090 |
138,964 | |
World
Wrestling Entertainment, Inc. Class A |
2,208 |
231,840 | |
581,852 | |||
Interactive
Media & Services - 0.6% |
|||
Yelp,
Inc. (a) |
4,782 |
215,429 | |
Ziff
Davis, Inc. (a) |
2,192 |
158,964 | |
ZipRecruiter,
Inc. (a) |
6,212 |
115,046 | |
Zoominfo
Technologies, Inc. (a) |
9,518 |
243,375 | |
732,814 | |||
Media
- 1.3% |
|||
Cable
One, Inc. |
232 |
167,954 | |
John
Wiley & Sons, Inc. Class A |
3,150 |
107,825 | |
News
Corp. Class A |
16,045 |
318,012 | |
Nexstar
Broadcasting Group, Inc. Class A |
1,333 |
248,898 | |
Scholastic
Corp. |
3,027 |
130,736 | |
Sirius
XM Holdings, Inc. (b) |
35,630 |
181,713 | |
TEGNA,
Inc. |
10,181 |
172,059 | |
The
New York Times Co. Class A |
6,549 |
266,937 | |
1,594,134 | |||
TOTAL COMMUNICATION
SERVICES |
3,800,637 | ||
CONSUMER
DISCRETIONARY - 14.1% |
|||
Automobile
Components - 1.7% |
|||
Autoliv,
Inc. |
2,959 |
298,652 | |
BorgWarner,
Inc. |
7,520 |
349,680 | |
Dorman
Products, Inc. (a) |
1,741 |
147,445 | |
Gentex
Corp. |
8,932 |
299,937 | |
Gentherm,
Inc. (a) |
2,271 |
135,738 | |
LCI
Industries (b) |
1,514 |
206,313 | |
Lear
Corp. |
2,088 |
323,139 | |
Phinia,
Inc. |
1,495 |
42,413 | |
Visteon
Corp. (a) |
1,330 |
204,940 | |
XPEL,
Inc. (a) |
1,885 |
153,119 | |
2,161,376 | |||
Automobiles
- 0.5% |
|||
Harley-Davidson,
Inc. |
5,124 |
197,838 | |
Thor
Industries, Inc. (b) |
2,284 |
263,779 | |
Winnebago
Industries, Inc. |
2,340 |
160,992 | |
622,609 | |||
Broadline
Retail - 0.4% |
|||
Dillard's,
Inc. Class A (b) |
353 |
121,093 | |
Macy's,
Inc. |
10,650 |
176,684 | |
Ollie's
Bargain Outlet Holdings, Inc. (a) |
3,232 |
235,548 | |
533,325 | |||
Diversified
Consumer Services - 1.5% |
|||
ADT,
Inc. |
17,497 |
111,631 | |
Adtalem
Global Education, Inc. (a) |
3,943 |
170,495 | |
Chegg,
Inc. (a) |
8,162 |
82,681 | |
Frontdoor,
Inc. (a) |
5,811 |
202,920 | |
Graham
Holdings Co. |
255 |
149,621 | |
Grand
Canyon Education, Inc. (a) |
1,638 |
177,805 | |
H&R
Block, Inc. |
6,342 |
213,155 | |
Perdoceo
Education Corp. |
9,163 |
122,326 | |
Service
Corp. International |
4,940 |
329,251 | |
Strategic
Education, Inc. |
1,673 |
125,642 | |
Stride,
Inc. (a) |
3,575 |
136,601 | |
1,822,128 | |||
Hotels,
Restaurants & Leisure - 2.1% |
|||
Bloomin'
Brands, Inc. |
6,525 |
175,327 | |
Bowlero
Corp. Class A (a) |
8,797 |
106,708 | |
Boyd
Gaming Corp. |
3,580 |
244,586 | |
Choice
Hotels International, Inc. (b) |
1,516 |
198,217 | |
Churchill
Downs, Inc. |
2,369 |
274,449 | |
Cracker
Barrel Old Country Store, Inc. |
1,467 |
136,724 | |
Monarch
Casino & Resort, Inc. |
1,777 |
123,182 | |
Planet
Fitness, Inc. (a) |
3,192 |
215,588 | |
RCI
Hospitality Holdings, Inc. |
1,419 |
98,975 | |
Texas
Roadhouse, Inc. Class A |
2,564 |
286,014 | |
Vail
Resorts, Inc. |
1,324 |
311,789 | |
Wendy's
Co. |
8,851 |
190,208 | |
Wingstop,
Inc. |
1,346 |
226,909 | |
2,588,676 | |||
Household
Durables - 2.6% |
|||
Cavco
Industries, Inc. (a) |
590 |
174,434 | |
Ethan
Allen Interiors, Inc. (b) |
4,322 |
136,013 | |
KB
Home |
4,636 |
250,205 | |
La-Z-Boy,
Inc. |
4,771 |
149,666 | |
Leggett
& Platt, Inc. |
5,919 |
173,190 | |
M.D.C.
Holdings, Inc. |
4,024 |
206,351 | |
M/I
Homes, Inc. (a) |
2,400 |
240,000 | |
Meritage
Homes Corp. |
1,778 |
264,833 | |
Skyline
Champion Corp. (a) |
3,001 |
209,050 | |
Taylor
Morrison Home Corp. (a) |
5,442 |
263,502 | |
Tempur
Sealy International, Inc. |
6,326 |
282,329 | |
Toll
Brothers, Inc. |
4,170 |
334,976 | |
TopBuild
Corp. (a) |
1,243 |
340,495 | |
TRI
Pointe Homes, Inc. (a) |
7,151 |
227,974 | |
3,253,018 | |||
Leisure
Products - 1.0% |
|||
Acushnet
Holdings Corp. |
3,009 |
179,427 | |
Brunswick
Corp. |
2,854 |
246,329 | |
JAKKS
Pacific, Inc. (a) |
5,485 |
114,307 | |
Malibu
Boats, Inc. Class A (a) |
2,197 |
131,710 | |
MasterCraft
Boat Holdings, Inc. (a) |
4,096 |
125,542 | |
Polaris,
Inc. |
2,158 |
293,143 | |
Sturm,
Ruger & Co., Inc. |
2,366 |
125,280 | |
1,215,738 | |||
Specialty
Retail - 2.9% |
|||
Academy
Sports & Outdoors, Inc. |
3,587 |
214,467 | |
Advance
Auto Parts, Inc. |
2,053 |
152,723 | |
Arko
Corp. |
15,345 |
127,977 | |
Asbury
Automotive Group, Inc. (a) |
958 |
216,125 | |
AutoNation,
Inc. (a) |
1,579 |
254,187 | |
Dick's
Sporting Goods, Inc. |
2,069 |
291,729 | |
Five
Below, Inc. (a) |
1,789 |
372,720 | |
Foot
Locker, Inc. (b) |
4,199 |
112,827 | |
Group
1 Automotive, Inc. |
811 |
209,668 | |
Haverty
Furniture Companies, Inc. |
3,431 |
122,144 | |
Hibbett,
Inc. |
1,913 |
88,763 | |
Monro,
Inc. |
2,801 |
102,657 | |
Murphy
U.S.A., Inc. |
894 |
274,485 | |
Penske
Automotive Group, Inc. (b) |
1,369 |
220,984 | |
The
Buckle, Inc. |
3,220 |
117,723 | |
Valvoline,
Inc. |
6,797 |
258,082 | |
Williams-Sonoma,
Inc. (b) |
2,262 |
313,604 | |
Winmark
Corp. |
466 |
169,372 | |
3,620,237 | |||
Textiles,
Apparel & Luxury Goods - 1.4% |
|||
Capri
Holdings Ltd. (a) |
4,513 |
166,575 | |
Columbia
Sportswear Co. |
1,962 |
154,233 | |
Crocs,
Inc. (a) |
2,268 |
245,738 | |
Deckers
Outdoor Corp. (a) |
852 |
463,224 | |
Kontoor
Brands, Inc. |
3,382 |
143,262 | |
Skechers
U.S.A., Inc. Class A (sub. vtg.) (a) |
5,278 |
293,351 | |
Tapestry,
Inc. |
7,761 |
334,887 | |
1,801,270 | |||
TOTAL CONSUMER
DISCRETIONARY |
17,618,377 | ||
CONSUMER
STAPLES - 3.8% |
|||
Beverages
- 0.6% |
|||
Brown-Forman
Corp. Class B (non-vtg.) |
5,835 |
411,951 | |
MGP
Ingredients, Inc. (b) |
1,576 |
179,680 | |
National
Beverage Corp. (a) |
3,209 |
169,596 | |
761,227 | |||
Consumer
Staples Distribution & Retail - 1.1% |
|||
Albertsons
Companies, Inc. |
9,177 |
199,416 | |
BJ's
Wholesale Club Holdings, Inc. (a) |
4,604 |
305,291 | |
Casey's
General Stores, Inc. |
1,359 |
343,365 | |
Ingles
Markets, Inc. Class A |
1,598 |
135,510 | |
Sprouts
Farmers Market LLC (a) |
6,035 |
236,874 | |
Weis
Markets, Inc. (b) |
1,747 |
115,896 | |
1,336,352 | |||
Food
Products - 1.3% |
|||
Cal-Maine
Foods, Inc. (b) |
3,053 |
141,018 | |
Campbell
Soup Co. |
6,820 |
312,492 | |
Flowers
Foods, Inc. |
8,607 |
212,679 | |
Hostess
Brands, Inc. Class A (a) |
8,234 |
197,945 | |
Ingredion,
Inc. |
2,638 |
293,504 | |
John
B. Sanfilippo & Son, Inc. |
1,505 |
163,910 | |
Lancaster
Colony Corp. |
1,086 |
209,196 | |
Tootsie
Roll Industries, Inc. |
3,119 |
108,728 | |
1,639,472 | |||
Household
Products - 0.2% |
|||
WD-40
Co. (b) |
947 |
217,337 | |
Personal
Care Products - 0.5% |
|||
BellRing
Brands, Inc. (a) |
7,181 |
258,157 | |
elf
Beauty, Inc. (a) |
2,904 |
338,955 | |
597,112 | |||
Tobacco
- 0.1% |
|||
Vector
Group Ltd. |
12,113 |
158,923 | |
TOTAL CONSUMER STAPLES |
4,710,423 | ||
ENERGY
- 4.8% |
|||
Energy
Equipment & Services - 0.2% |
|||
Helmerich
& Payne, Inc. |
4,881 |
218,522 | |
Oil,
Gas & Consumable Fuels - 4.6% |
|||
Arch
Resources, Inc. |
1,174 |
150,789 | |
Ardmore
Shipping Corp. |
8,924 |
125,650 | |
California
Resources Corp. |
4,478 |
238,901 | |
Chesapeake
Energy Corp. |
3,740 |
315,432 | |
Chord
Energy Corp. |
1,752 |
274,784 | |
Civitas
Resources, Inc. (b) |
3,009 |
225,254 | |
Comstock
Resources, Inc. (b) |
11,801 |
150,463 | |
CONSOL
Energy, Inc. |
2,746 |
204,632 | |
CVR
Energy, Inc. |
4,284 |
157,394 | |
Delek
U.S. Holdings, Inc. |
6,066 |
167,361 | |
DT
Midstream, Inc. |
4,270 |
228,530 | |
EQT
Corp. |
11,783 |
497,007 | |
Evolution
Petroleum Corp. |
20,070 |
187,454 | |
Gulfport
Energy Corp. (a) |
2,141 |
219,345 | |
HF
Sinclair Corp. |
5,133 |
267,378 | |
International
Seaways, Inc. |
3,951 |
169,458 | |
Magnolia
Oil & Gas Corp. Class A |
8,825 |
195,474 | |
Murphy
Oil Corp. |
6,065 |
262,433 | |
Par
Pacific Holdings, Inc. (a) |
5,685 |
178,964 | |
PBF
Energy, Inc. Class A |
5,457 |
258,880 | |
PDC
Energy, Inc. |
3,882 |
294,605 | |
Peabody
Energy Corp. |
6,710 |
150,572 | |
Southwestern
Energy Co. (a) |
46,377 |
300,523 | |
Talos
Energy, Inc. (a) |
7,704 |
123,264 | |
Teekay
Tankers Ltd. |
4,241 |
184,950 | |
Texas
Pacific Land Corp. |
196 |
295,235 | |
5,824,732 | |||
TOTAL ENERGY |
6,043,254 | ||
FINANCIALS
- 15.2% |
|||
Banks
- 6.6% |
|||
1st
Source Corp. |
2,844 |
133,384 | |
Amalgamated
Financial Corp. |
5,782 |
115,409 | |
Ameris
Bancorp |
3,904 |
170,410 | |
BancFirst
Corp. |
1,831 |
182,917 | |
Bank
First National Corp. |
1,666 |
147,208 | |
Banner
Corp. |
2,631 |
125,262 | |
Cambridge
Bancorp |
1,660 |
102,156 | |
Cathay
General Bancorp |
4,387 |
166,881 | |
City
Holding Co. |
1,585 |
156,772 | |
Columbia
Banking Systems, Inc. |
5,468 |
122,210 | |
Comerica,
Inc. |
4,542 |
245,086 | |
Commerce
Bancshares, Inc. |
4,356 |
231,652 | |
Community
Trust Bancorp, Inc. |
3,142 |
120,590 | |
CVB
Financial Corp. |
7,795 |
147,092 | |
Dime
Community Bancshares, Inc. |
4,689 |
105,034 | |
East
West Bancorp, Inc. |
4,661 |
289,961 | |
Enterprise
Financial Services Corp. |
3,091 |
126,731 | |
First
Bancorp, Puerto Rico |
12,686 |
188,387 | |
First
Citizens Bancshares, Inc. |
419 |
599,715 | |
First
Financial Corp., Indiana |
2,999 |
114,592 | |
First
Merchants Corp. |
4,162 |
133,683 | |
FNB
Corp., Pennsylvania |
16,391 |
209,641 | |
Fulton
Financial Corp. |
10,812 |
154,612 | |
Great
Southern Bancorp, Inc. |
2,306 |
127,591 | |
Hancock
Whitney Corp. |
4,178 |
183,874 | |
Hanmi
Financial Corp. |
5,767 |
109,573 | |
Heritage
Financial Corp., Washington |
4,960 |
93,050 | |
International
Bancshares Corp. |
3,767 |
186,994 | |
Midland
States Bancorp, Inc. |
5,308 |
124,366 | |
NBT
Bancorp, Inc. |
3,953 |
147,052 | |
OFG
Bancorp |
5,282 |
176,894 | |
Old
Second Bancorp, Inc. |
8,115 |
129,759 | |
Peapack-Gladstone
Financial Corp. |
3,645 |
106,543 | |
Popular,
Inc. |
3,348 |
242,897 | |
Preferred
Bank, Los Angeles |
1,989 |
131,433 | |
QCR
Holdings, Inc. |
2,666 |
136,579 | |
S&T
Bancorp, Inc. |
4,223 |
133,362 | |
Southstate
Corp. |
3,180 |
246,991 | |
Stock
Yards Bancorp, Inc. |
2,639 |
126,171 | |
Synovus
Financial Corp. |
6,032 |
204,485 | |
Trico
Bancshares |
3,124 |
116,775 | |
Trustco
Bank Corp., New York |
3,784 |
114,996 | |
UMB
Financial Corp. |
2,311 |
164,081 | |
United
Bankshares, Inc., West Virginia |
5,906 |
197,497 | |
Valley
National Bancorp |
19,104 |
196,007 | |
Webster
Financial Corp. |
6,087 |
288,037 | |
WesBanco,
Inc. |
4,556 |
127,614 | |
Westamerica
Bancorp. |
2,806 |
138,027 | |
Wintrust
Financial Corp. |
2,655 |
223,976 | |
8,264,009 | |||
Capital
Markets - 1.5% |
|||
Evercore,
Inc. Class A |
1,721 |
232,438 | |
Federated
Hermes, Inc. |
4,934 |
166,917 | |
GCM
Grosvenor, Inc. Class A |
14,210 |
111,549 | |
Houlihan
Lokey |
2,340 |
233,649 | |
Interactive
Brokers Group, Inc. |
3,797 |
331,592 | |
Lazard
Ltd. Class A |
5,512 |
193,471 | |
PJT
Partners, Inc. |
2,095 |
166,154 | |
SEI
Investments Co. |
4,177 |
263,109 | |
StoneX
Group, Inc. (a) |
1,800 |
165,618 | |
1,864,497 | |||
Consumer
Finance - 0.4% |
|||
Enova
International, Inc. (a) |
3,047 |
167,859 | |
FirstCash
Holdings, Inc. |
2,179 |
207,615 | |
Nelnet,
Inc. Class A |
1,686 |
166,374 | |
541,848 | |||
Financial
Services - 1.9% |
|||
A-Mark
Precious Metals, Inc. |
3,577 |
145,906 | |
Cass
Information Systems, Inc. |
2,412 |
91,535 | |
Enact
Holdings, Inc. |
5,619 |
152,837 | |
Essent
Group Ltd. |
5,164 |
256,134 | |
Euronet
Worldwide, Inc. (a) |
1,953 |
171,610 | |
EVERTEC,
Inc. |
4,284 |
168,490 | |
International
Money Express, Inc. (a) |
5,319 |
128,879 | |
Jackson
Financial, Inc. |
3,955 |
130,594 | |
Merchants
Bancorp |
4,540 |
143,509 | |
MGIC
Investment Corp. |
15,205 |
254,532 | |
Radian
Group, Inc. |
8,857 |
238,519 | |
The
Western Union Co. |
16,023 |
195,160 | |
Voya
Financial, Inc. |
3,927 |
291,619 | |
2,369,324 | |||
Insurance
- 4.8% |
|||
American
Equity Investment Life Holding Co. |
4,148 |
222,623 | |
American
Financial Group, Inc. |
2,456 |
298,674 | |
Amerisafe,
Inc. |
2,687 |
140,046 | |
Assurant,
Inc. |
2,091 |
281,260 | |
Axis
Capital Holdings Ltd. |
3,733 |
205,763 | |
Employers
Holdings, Inc. |
3,481 |
134,471 | |
Erie
Indemnity Co. Class A |
1,058 |
234,834 | |
Fidelity
National Financial, Inc. |
8,760 |
343,129 | |
Genworth
Financial, Inc. Class A (a) |
32,539 |
190,679 | |
Globe
Life, Inc. |
3,051 |
342,231 | |
Hanover
Insurance Group, Inc. |
1,678 |
190,419 | |
Kinsale
Capital Group, Inc. |
912 |
339,839 | |
Loews
Corp. |
6,400 |
400,960 | |
National
Western Life Group, Inc. |
511 |
215,473 | |
Old
Republic International Corp. |
10,894 |
300,348 | |
Primerica,
Inc. |
1,564 |
332,663 | |
Reinsurance
Group of America, Inc. |
2,317 |
325,191 | |
RenaissanceRe
Holdings Ltd. |
1,570 |
293,213 | |
RLI
Corp. |
1,840 |
245,474 | |
Safety
Insurance Group, Inc. |
1,748 |
125,856 | |
Selective
Insurance Group, Inc. |
2,628 |
271,183 | |
Unum
Group |
7,142 |
347,173 | |
White
Mountains Insurance Group Ltd. |
141 |
218,130 | |
5,999,632 | |||
TOTAL FINANCIALS |
19,039,310 | ||
HEALTH
CARE - 12.5% |
|||
Biotechnology
- 3.3% |
|||
ADMA
Biologics, Inc. (a) |
35,193 |
146,051 | |
Akero
Therapeutics, Inc. (a) |
3,163 |
137,274 | |
Alkermes
PLC (a) |
7,901 |
231,341 | |
Amicus
Therapeutics, Inc. (a) |
14,279 |
194,480 | |
Ars
Pharmaceuticals, Inc. (a) |
17,543 |
128,941 | |
Catalyst
Pharmaceutical Partners, Inc. (a) |
9,596 |
132,713 | |
Chinook
Therapeutics, Inc. (a) |
5,659 |
221,720 | |
Cytokinetics,
Inc. (a) |
4,736 |
157,946 | |
Deciphera
Pharmaceuticals, Inc. (a) |
7,858 |
106,240 | |
Exelixis,
Inc. (a) |
13,791 |
271,821 | |
Halozyme
Therapeutics, Inc. (a) |
5,209 |
223,779 | |
Ionis
Pharmaceuticals, Inc. (a) |
6,003 |
248,704 | |
Ironwood
Pharmaceuticals, Inc. Class A (a) |
13,212 |
146,521 | |
Kiniksa
Pharmaceuticals Ltd. (a) |
8,974 |
169,070 | |
Neurocrine
Biosciences, Inc. (a) |
3,208 |
326,863 | |
Repligen
Corp. (a) |
1,745 |
299,372 | |
Sarepta
Therapeutics, Inc. (a) |
2,919 |
316,390 | |
Syndax
Pharmaceuticals, Inc. (a) |
5,545 |
118,219 | |
United
Therapeutics Corp. (a) |
1,459 |
354,128 | |
Vaxcyte,
Inc. (a) |
3,991 |
191,807 | |
Vir
Biotechnology, Inc. (a) |
5,596 |
78,792 | |
4,202,172 | |||
Health
Care Equipment & Supplies - 3.1% |
|||
Atrion
Corp. |
199 |
111,561 | |
Axonics
Modulation Technologies, Inc. (a) |
2,997 |
180,929 | |
Embecta
Corp. |
5,378 |
114,767 | |
Globus
Medical, Inc. (a) |
3,204 |
193,105 | |
Haemonetics
Corp. (a) |
2,484 |
229,124 | |
Integer
Holdings Corp. (a) |
2,325 |
215,016 | |
Integra
LifeSciences Holdings Corp. (a) |
3,555 |
161,646 | |
Lantheus
Holdings, Inc. (a) |
3,469 |
300,034 | |
LeMaitre
Vascular, Inc. |
2,796 |
176,791 | |
Masimo
Corp. (a) |
1,742 |
213,047 | |
Merit
Medical Systems, Inc. (a) |
2,862 |
213,706 | |
Novocure
Ltd. (a) |
3,224 |
105,231 | |
PROCEPT
BioRobotics Corp. (a) |
3,711 |
127,807 | |
QuidelOrtho
Corp. (a) |
2,467 |
215,517 | |
Shockwave
Medical, Inc. (a) |
1,420 |
370,052 | |
Teleflex,
Inc. |
1,484 |
372,736 | |
TransMedics
Group, Inc. (a) |
2,445 |
227,825 | |
UFP
Technologies, Inc. (a) |
1,206 |
234,766 | |
Zynex,
Inc. (a)(b) |
8,754 |
85,439 | |
3,849,099 | |||
Health
Care Providers & Services - 3.4% |
|||
Acadia
Healthcare Co., Inc. (a) |
3,444 |
272,179 | |
Addus
HomeCare Corp. (a) |
1,434 |
131,311 | |
Amedisys,
Inc. (a) |
1,944 |
176,593 | |
AMN
Healthcare Services, Inc. (a) |
2,109 |
225,979 | |
Chemed
Corp. |
556 |
289,726 | |
Corvel
Corp. (a) |
828 |
169,376 | |
Cross
Country Healthcare, Inc. (a) |
4,744 |
122,395 | |
DaVita
HealthCare Partners, Inc. (a) |
2,590 |
264,154 | |
DocGo,
Inc. Class A (a) |
13,573 |
113,877 | |
Encompass
Health Corp. |
4,128 |
272,572 | |
HealthEquity,
Inc. (a) |
3,863 |
262,452 | |
Henry
Schein, Inc. (a) |
4,315 |
339,979 | |
National
Healthcare Corp. |
2,198 |
129,726 | |
National
Research Corp. Class A |
2,881 |
123,624 | |
Option
Care Health, Inc. (a) |
7,448 |
251,593 | |
Premier,
Inc. |
6,123 |
169,913 | |
Select
Medical Holdings Corp. |
6,198 |
186,002 | |
The
Ensign Group, Inc. |
2,475 |
239,753 | |
U.S.
Physical Therapy, Inc. |
1,425 |
165,685 | |
Universal
Health Services, Inc. Class B |
2,199 |
305,573 | |
4,212,462 | |||
Health
Care Technology - 0.5% |
|||
Computer
Programs & Systems, Inc. (a) |
4,339 |
113,769 | |
Doximity,
Inc. (a)(b) |
5,480 |
195,800 | |
HealthStream,
Inc. |
5,398 |
121,347 | |
Simulations
Plus, Inc. (b) |
3,148 |
156,770 | |
587,686 | |||
Life
Sciences Tools & Services - 0.5% |
|||
Bruker
Corp. |
3,828 |
263,060 | |
Maravai
LifeSciences Holdings, Inc. (a) |
10,035 |
113,496 | |
Medpace
Holdings, Inc. (a) |
1,050 |
265,829 | |
642,385 | |||
Pharmaceuticals
- 1.7% |
|||
Amphastar
Pharmaceuticals, Inc. (a) |
4,625 |
280,691 | |
Catalent,
Inc. (a) |
6,057 |
293,886 | |
Corcept
Therapeutics, Inc. (a) |
6,938 |
176,780 | |
Harmony
Biosciences Holdings, Inc. (a) |
3,085 |
109,116 | |
Innoviva,
Inc. (a) |
10,533 |
142,722 | |
Jazz
Pharmaceuticals PLC (a) |
2,146 |
279,881 | |
Organon
& Co. |
9,478 |
208,326 | |
Perrigo
Co. PLC |
6,156 |
225,556 | |
Prestige
Brands Holdings, Inc. (a) |
3,052 |
199,021 | |
Supernus
Pharmaceuticals, Inc. (a) |
4,005 |
122,913 | |
Ventyx
Biosciences, Inc. (a) |
3,362 |
124,562 | |
2,163,454 | |||
TOTAL HEALTH CARE |
15,657,258 | ||
INDUSTRIALS
- 18.7% |
|||
Aerospace
& Defense - 1.1% |
|||
BWX
Technologies, Inc. |
3,698 |
255,162 | |
Curtiss-Wright
Corp. |
1,462 |
279,768 | |
Hexcel
Corp. |
3,299 |
233,173 | |
Huntington
Ingalls Industries, Inc. |
1,355 |
311,203 | |
Moog,
Inc. Class A |
1,731 |
182,517 | |
Parsons
Corp. (a) |
3,072 |
151,818 | |
1,413,641 | |||
Air
Freight & Logistics - 0.6% |
|||
C.H.
Robinson Worldwide, Inc. |
3,584 |
359,045 | |
Forward
Air Corp. |
1,498 |
178,022 | |
Hub
Group, Inc. Class A (a) |
1,847 |
166,470 | |
703,537 | |||
Building
Products - 2.3% |
|||
A.O.
Smith Corp. |
4,266 |
309,840 | |
AAON,
Inc. |
2,216 |
233,256 | |
Allegion
PLC |
2,786 |
325,572 | |
Apogee
Enterprises, Inc. |
2,652 |
131,354 | |
CSW
Industrials, Inc. |
1,044 |
188,494 | |
Griffon
Corp. |
3,512 |
146,521 | |
Lennox
International, Inc. |
1,082 |
397,570 | |
MasterBrand,
Inc. |
13,514 |
166,898 | |
Owens
Corning |
3,066 |
429,209 | |
Simpson
Manufacturing Co. Ltd. |
1,853 |
292,774 | |
UFP
Industries, Inc. |
2,404 |
247,035 | |
2,868,523 | |||
Commercial
Services & Supplies - 1.6% |
|||
Brady
Corp. Class A |
2,905 |
149,840 | |
Casella
Waste Systems, Inc. Class A (a) |
2,398 |
193,495 | |
Clean
Harbors, Inc. (a) |
1,899 |
315,728 | |
CoreCivic,
Inc. (a) |
12,342 |
119,717 | |
Ennis,
Inc. |
5,416 |
116,661 | |
MSA
Safety, Inc. |
1,548 |
256,968 | |
Rollins,
Inc. |
7,964 |
325,170 | |
Tetra
Tech, Inc. |
1,825 |
308,808 | |
The
GEO Group, Inc. (a) |
11,502 |
85,920 | |
UniFirst
Corp. |
836 |
135,683 | |
2,007,990 | |||
Construction
& Engineering - 1.9% |
|||
AECOM
|
4,264 |
370,968 | |
Arcosa,
Inc. |
2,784 |
214,869 | |
Comfort
Systems U.S.A., Inc. |
1,633 |
284,093 | |
EMCOR
Group, Inc. |
1,742 |
374,600 | |
MasTec,
Inc. (a) |
2,350 |
276,713 | |
MDU
Resources Group, Inc. |
7,772 |
171,917 | |
MYR
Group, Inc. (a) |
1,395 |
198,871 | |
Northwest
Pipe Co. (a) |
2,959 |
96,404 | |
Sterling
Construction Co., Inc. (a) |
3,520 |
211,165 | |
Valmont
Industries, Inc. |
792 |
209,682 | |
2,409,282 | |||
Electrical
Equipment - 1.1% |
|||
Acuity
Brands, Inc. |
1,254 |
207,211 | |
Atkore,
Inc. (a) |
1,643 |
260,695 | |
Encore
Wire Corp. |
1,008 |
172,056 | |
nVent
Electric PLC |
6,305 |
333,408 | |
Regal
Rexnord Corp. |
2,119 |
330,945 | |
1,304,315 | |||
Ground
Transportation - 0.8% |
|||
Knight-Swift
Transportation Holdings, Inc. Class A |
5,176 |
314,442 | |
Landstar
System, Inc. |
1,356 |
276,068 | |
Marten
Transport Ltd. |
5,798 |
131,383 | |
Universal
Logistics Holdings, Inc. |
2,889 |
89,819 | |
Werner
Enterprises, Inc. |
3,390 |
159,398 | |
971,110 | |||
Machinery
- 4.4% |
|||
AGCO
Corp. |
2,150 |
286,165 | |
Alamo
Group, Inc. |
872 |
168,959 | |
Albany
International Corp. Class A |
1,598 |
153,855 | |
Allison
Transmission Holdings, Inc. |
4,305 |
252,660 | |
Crane
Co. |
1,923 |
180,166 | |
Crane
Nxt Co. |
1,932 |
114,278 | |
Donaldson
Co., Inc. |
4,324 |
271,677 | |
ESAB
Corp. |
2,811 |
193,116 | |
ESCO
Technologies, Inc. |
1,603 |
161,182 | |
Federal
Signal Corp. |
3,225 |
197,015 | |
Franklin
Electric Co., Inc. |
1,955 |
193,193 | |
Graco,
Inc. |
5,161 |
409,422 | |
Hillenbrand,
Inc. |
3,636 |
188,854 | |
ITT,
Inc. |
2,939 |
292,724 | |
Kadant,
Inc. |
738 |
164,463 | |
Lincoln
Electric Holdings, Inc. |
1,873 |
375,930 | |
Lindsay
Corp. |
911 |
120,735 | |
Mueller
Industries, Inc. |
2,727 |
221,051 | |
RBC
Bearings, Inc. (a) |
1,056 |
238,709 | |
SPX
Technologies, Inc. (a) |
2,332 |
197,311 | |
Standex
International Corp. |
1,119 |
166,250 | |
Terex
Corp. |
3,461 |
202,918 | |
Timken
Co. |
2,648 |
245,893 | |
Toro
Co. |
3,201 |
325,382 | |
Watts
Water Technologies, Inc. Class A |
1,206 |
224,955 | |
5,546,863 | |||
Marine
Transportation - 0.2% |
|||
Matson,
Inc. |
2,285 |
213,556 | |
Professional
Services - 3.4% |
|||
Barrett
Business Services, Inc. |
1,208 |
109,602 | |
CACI
International, Inc. Class A (a) |
857 |
300,327 | |
CBIZ,
Inc. (a) |
3,244 |
171,575 | |
Concentrix
Corp. |
1,644 |
136,847 | |
CSG
Systems International, Inc. |
2,423 |
125,003 | |
ExlService
Holdings, Inc. (a) |
1,357 |
191,269 | |
Exponent,
Inc. |
2,100 |
188,118 | |
FTI
Consulting, Inc. (a) |
1,400 |
245,224 | |
Genpact
Ltd. |
5,993 |
216,287 | |
Huron
Consulting Group, Inc. (a) |
1,926 |
182,142 | |
ICF
International, Inc. |
1,356 |
159,452 | |
Insperity,
Inc. |
1,693 |
199,181 | |
KBR,
Inc. |
5,031 |
309,356 | |
Kforce,
Inc. |
2,215 |
140,520 | |
Korn
Ferry |
2,971 |
156,512 | |
Manpower,
Inc. |
2,251 |
177,559 | |
Maximus,
Inc. |
2,779 |
232,769 | |
NV5
Global, Inc. (a) |
1,011 |
110,755 | |
Paylocity
Holding Corp. (a) |
1,387 |
314,641 | |
Resources
Connection, Inc. |
6,457 |
103,183 | |
Robert
Half, Inc. |
3,560 |
263,974 | |
Science
Applications International Corp. |
2,202 |
267,191 | |
4,301,487 | |||
Trading
Companies & Distributors - 1.3% |
|||
Applied
Industrial Technologies, Inc. |
1,556 |
225,604 | |
Boise
Cascade Co. |
2,177 |
225,298 | |
McGrath
RentCorp. |
1,521 |
146,594 | |
MSC
Industrial Direct Co., Inc. Class A |
2,196 |
221,620 | |
Rush
Enterprises, Inc. Class A |
2,739 |
177,159 | |
Triton
International Ltd. |
2,716 |
228,986 | |
Watsco,
Inc. (b) |
1,059 |
400,503 | |
1,625,764 | |||
TOTAL INDUSTRIALS |
23,366,068 | ||
INFORMATION
TECHNOLOGY - 13.8% |
|||
Communications
Equipment - 1.1% |
|||
Ciena
Corp. (a) |
5,372 |
226,698 | |
Clearfield,
Inc. (a)(b) |
1,796 |
83,945 | |
Digi
International, Inc. (a) |
3,757 |
157,531 | |
F5,
Inc. (a) |
2,009 |
317,904 | |
Harmonic,
Inc. (a) |
9,665 |
144,202 | |
Juniper
Networks, Inc. |
10,591 |
294,430 | |
NetScout
Systems, Inc. (a) |
4,846 |
135,446 | |
1,360,156 | |||
Electronic
Equipment, Instruments & Components - 4.4% |
|||
Advanced
Energy Industries, Inc. |
1,912 |
239,344 | |
Arrow
Electronics, Inc. (a) |
2,176 |
310,167 | |
Avnet,
Inc. |
4,330 |
210,005 | |
Badger
Meter, Inc. |
1,561 |
257,003 | |
Bel
Fuse, Inc. Class B (non-vtg.) |
3,027 |
162,399 | |
Belden,
Inc. |
2,219 |
214,444 | |
Cognex
Corp. |
5,717 |
312,263 | |
CTS
Corp. |
3,020 |
134,783 | |
ePlus,
Inc. (a) |
2,626 |
147,975 | |
Fabrinet
(a) |
1,620 |
200,297 | |
Insight
Enterprises, Inc. (a) |
1,607 |
235,731 | |
IPG
Photonics Corp. (a) |
1,644 |
216,104 | |
Jabil,
Inc. |
4,297 |
475,549 | |
Littelfuse,
Inc. |
944 |
287,542 | |
Methode
Electronics, Inc. Class A |
2,969 |
99,877 | |
Napco
Security Technologies, Inc. |
4,177 |
156,554 | |
National
Instruments Corp. |
4,885 |
288,215 | |
Novanta,
Inc. (a) |
1,422 |
251,552 | |
OSI
Systems, Inc. (a) |
1,473 |
175,626 | |
PC
Connection, Inc. |
2,369 |
114,683 | |
Plexus
Corp. (a) |
1,694 |
166,842 | |
Sanmina
Corp. (a) |
2,970 |
182,536 | |
TD
SYNNEX Corp. |
1,962 |
193,669 | |
TTM
Technologies, Inc. (a) |
8,886 |
127,603 | |
Vishay
Intertechnology, Inc. |
7,315 |
205,917 | |
Vishay
Precision Group, Inc. (a) |
2,780 |
104,000 | |
5,470,680 | |||
IT
Services - 0.6% |
|||
Amdocs
Ltd. |
3,833 |
358,922 | |
DXC
Technology Co. (a) |
8,727 |
241,302 | |
Hackett
Group, Inc. |
5,324 |
123,783 | |
724,007 | |||
Semiconductors
& Semiconductor Equipment - 2.6% |
|||
Amkor
Technology, Inc. |
5,763 |
167,646 | |
Axcelis
Technologies, Inc. (a) |
1,635 |
327,785 | |
Cirrus
Logic, Inc. (a) |
2,358 |
190,526 | |
Diodes,
Inc. (a) |
2,139 |
202,114 | |
Kulicke
& Soffa Industries, Inc. |
3,139 |
187,963 | |
Lattice
Semiconductor Corp. (a) |
4,341 |
394,771 | |
NVE
Corp. (b) |
1,607 |
127,290 | |
Onto
Innovation, Inc. (a) |
2,336 |
290,412 | |
Photronics,
Inc. (a) |
6,985 |
184,753 | |
Power
Integrations, Inc. |
2,455 |
238,479 | |
Qorvo,
Inc. (a) |
3,250 |
357,565 | |
Rambus,
Inc. (a) |
4,813 |
301,342 | |
Universal
Display Corp. |
1,743 |
254,269 | |
3,224,915 | |||
Software
- 3.9% |
|||
A10
Networks, Inc. |
8,158 |
126,612 | |
ACI
Worldwide, Inc. (a) |
6,286 |
145,772 | |
Adeia,
Inc. |
12,178 |
146,380 | |
Agilysys,
Inc. (a) |
1,749 |
128,779 | |
Alarm.com
Holdings, Inc. (a) |
2,971 |
164,029 | |
Aspen
Technology, Inc. (a) |
1,169 |
208,667 | |
Bentley
Systems, Inc. Class B |
6,891 |
371,287 | |
Black
Knight, Inc. (a) |
5,196 |
365,383 | |
BlackLine,
Inc. (a) |
2,594 |
150,660 | |
Box,
Inc. Class A (a) |
6,268 |
195,875 | |
CommVault
Systems, Inc. (a) |
2,623 |
204,410 | |
Dolby
Laboratories, Inc. Class A |
2,671 |
236,677 | |
DoubleVerify
Holdings, Inc. (a) |
5,494 |
231,297 | |
Dropbox,
Inc. Class A (a) |
10,392 |
280,064 | |
Dynatrace,
Inc. (a) |
6,777 |
370,634 | |
Manhattan
Associates, Inc. (a) |
2,155 |
410,786 | |
Model
N, Inc. (a) |
3,450 |
114,954 | |
Progress
Software Corp. |
2,860 |
171,772 | |
Qualys,
Inc. (a) |
1,640 |
227,632 | |
SPS
Commerce, Inc. (a) |
1,553 |
280,146 | |
Teradata
Corp. (a) |
5,229 |
297,269 | |
4,829,085 | |||
Technology
Hardware, Storage & Peripherals - 1.2% |
|||
Dell
Technologies, Inc. |
8,265 |
437,384 | |
Pure
Storage, Inc. Class A (a) |
9,773 |
361,503 | |
Super
Micro Computer, Inc. (a) |
2,340 |
772,821 | |
1,571,708 | |||
TOTAL INFORMATION
TECHNOLOGY |
17,180,551 | ||
MATERIALS
- 5.0% |
|||
Chemicals
- 2.0% |
|||
American
Vanguard Corp. |
5,258 |
94,959 | |
Balchem
Corp. |
1,464 |
197,259 | |
Chase
Corp. |
1,251 |
157,488 | |
Huntsman
Corp. |
7,176 |
213,630 | |
Ingevity
Corp. (a) |
2,001 |
128,104 | |
Innospec,
Inc. |
1,465 |
156,960 | |
NewMarket
Corp. |
439 |
198,296 | |
Olin
Corp. |
4,482 |
258,522 | |
RPM
International, Inc. |
3,994 |
412,620 | |
Sensient
Technologies Corp. |
2,271 |
145,435 | |
Stepan
Co. |
1,391 |
133,286 | |
The
Chemours Co. LLC |
6,277 |
232,123 | |
Westlake
Corp. |
1,607 |
220,963 | |
2,549,645 | |||
Construction
Materials - 0.3% |
|||
Eagle
Materials, Inc. |
1,514 |
279,136 | |
Knife
River Holding Co. |
1,928 |
83,810 | |
362,946 | |||
Containers
& Packaging - 1.4% |
|||
Aptargroup,
Inc. |
2,344 |
284,702 | |
Berry
Global Group, Inc. |
4,386 |
287,590 | |
Graphic
Packaging Holding Co. |
11,223 |
271,597 | |
Greif,
Inc. Class A |
2,155 |
159,405 | |
Myers
Industries, Inc. |
5,210 |
102,168 | |
Silgan
Holdings, Inc. |
3,768 |
165,227 | |
Sonoco
Products Co. (b) |
3,859 |
226,292 | |
WestRock
Co. |
8,582 |
285,695 | |
1,782,676 | |||
Metals
& Mining - 1.0% |
|||
Alpha
Metallurgical Resources |
972 |
168,370 | |
Commercial
Metals Co. |
4,474 |
256,002 | |
Royal
Gold, Inc. |
2,276 |
273,439 | |
Ryerson
Holding Corp. |
3,121 |
132,611 | |
United
States Steel Corp. (b) |
8,798 |
224,349 | |
Warrior
Metropolitan Coal, Inc. |
3,906 |
172,841 | |
1,227,612 | |||
Paper
& Forest Products - 0.3% |
|||
Louisiana-Pacific
Corp. |
3,047 |
231,968 | |
Sylvamo
Corp. |
2,926 |
143,579 | |
375,547 | |||
TOTAL MATERIALS |
6,298,426 | ||
REAL
ESTATE - 6.0% |
|||
Equity
Real Estate Investment Trusts (REITs) - 5.9% |
|||
Agree
Realty Corp. |
3,202 |
207,426 | |
American
Homes 4 Rent Class A |
9,389 |
351,900 | |
Americold
Realty Trust |
8,822 |
286,009 | |
Apartment
Income (REIT) Corp. |
5,640 |
194,806 | |
Apartment
Investment & Management Co. Class A |
15,334 |
127,732 | |
Apple
Hospitality (REIT), Inc. |
9,888 |
153,264 | |
Brixmor
Property Group, Inc. |
10,518 |
239,179 | |
Broadstone
Net Lease, Inc. |
8,931 |
145,575 | |
CareTrust
(REIT), Inc. |
6,589 |
136,985 | |
City
Office REIT, Inc. |
10,102 |
55,258 | |
Corporate
Office Properties Trust (SBI) |
5,857 |
152,282 | |
Cousins
Properties, Inc. |
6,634 |
162,069 | |
CubeSmart
|
6,944 |
301,092 | |
EastGroup
Properties, Inc. |
1,496 |
265,061 | |
Equity
Commonwealth |
6,055 |
118,617 | |
Essential
Properties Realty Trust, Inc. |
6,808 |
167,136 | |
Federal
Realty Investment Trust (SBI) |
2,430 |
246,694 | |
First
Industrial Realty Trust, Inc. |
4,611 |
238,389 | |
Four
Corners Property Trust, Inc. |
5,068 |
133,288 | |
Getty
Realty Corp. |
3,537 |
114,316 | |
Kilroy
Realty Corp. |
4,521 |
161,400 | |
Lamar
Advertising Co. Class A |
2,761 |
272,511 | |
LTC
Properties, Inc. |
3,315 |
111,251 | |
LXP
Industrial Trust (REIT) |
13,996 |
140,940 | |
Medical
Properties Trust, Inc. (b) |
20,372 |
205,553 | |
National
Health Investors, Inc. |
2,524 |
138,593 | |
NexPoint
Diversified Real Estate Trust |
7,728 |
90,340 | |
NNN
(REIT), Inc. |
5,894 |
251,556 | |
Omega
Healthcare Investors, Inc. |
8,253 |
263,271 | |
Phillips
Edison & Co., Inc. (b) |
5,300 |
187,143 | |
Physicians
Realty Trust |
10,755 |
158,529 | |
Potlatch
Corp. |
3,651 |
195,803 | |
Regency
Centers Corp. |
4,775 |
312,906 | |
Rexford
Industrial Realty, Inc. |
5,450 |
300,241 | |
Sabra
Health Care REIT, Inc. |
11,839 |
153,789 | |
Spirit
Realty Capital, Inc. |
5,223 |
210,644 | |
Stag
Industrial, Inc. |
6,488 |
235,514 | |
Terreno
Realty Corp. |
2,890 |
171,493 | |
Universal
Health Realty Income Trust (SBI) |
1,896 |
90,496 | |
7,449,051 | |||
Real
Estate Management & Development - 0.1% |
|||
The
RMR Group, Inc. |
3,289 |
77,555 | |
TOTAL REAL ESTATE |
7,526,606 | ||
UTILITIES
- 2.6% |
|||
Electric
Utilities - 1.4% |
|||
Allete,
Inc. |
2,898 |
166,432 | |
Hawaiian
Electric Industries, Inc. |
4,804 |
184,426 | |
IDACORP,
Inc. |
2,058 |
211,604 | |
NRG
Energy, Inc. |
8,055 |
306,009 | |
OGE
Energy Corp. |
7,013 |
253,520 | |
Otter
Tail Corp. (b) |
2,487 |
201,472 | |
Pinnacle
West Capital Corp. |
3,830 |
317,201 | |
PNM
Resources, Inc. |
4,010 |
179,728 | |
1,820,392 | |||
Gas
Utilities - 0.5% |
|||
National
Fuel Gas Co. |
3,808 |
202,243 | |
New
Jersey Resources Corp. |
4,101 |
183,315 | |
ONE
Gas, Inc. (b) |
2,430 |
192,286 | |
577,844 | |||
Independent
Power and Renewable Electricity Producers - 0.2% |
|||
Clearway
Energy, Inc. Class C |
5,552 |
146,628 | |
Ormat
Technologies, Inc. (b) |
2,184 |
177,559 | |
324,187 | |||
Multi-Utilities
- 0.4% |
|||
Black
Hills Corp. |
2,845 |
171,639 | |
NorthWestern
Energy Corp. |
3,047 |
172,064 | |
Unitil
Corp. |
2,317 |
120,577 | |
464,280 | |||
Water
Utilities - 0.1% |
|||
Artesian
Resources Corp. Class A |
1,879 |
85,607 | |
TOTAL UTILITIES |
3,272,310 | ||
TOTAL
COMMON STOCKS
(Cost
$116,197,908) |
124,513,220 | ||
Money
Market Funds - 3.7% | |||
Shares |
Value
($)
| ||
Fidelity
Cash Central Fund 5.32% (c) |
217,373 |
217,417 | |
Fidelity
Securities Lending Cash Central Fund 5.32% (c)(d) |
4,431,607 |
4,432,050 | |
TOTAL
MONEY MARKET FUNDS
(Cost
$4,649,467) |
4,649,467 | ||
TOTAL
INVESTMENT IN SECURITIES - 103.3%
(Cost
$120,847,375)
|
129,162,687 |
NET
OTHER ASSETS (LIABILITIES) - (3.3)% |
(4,186,491) |
NET
ASSETS - 100.0% |
124,976,196 |
Futures
Contracts | |||||
Number
of
contracts |
Expiration
Date |
Notional
Amount
($)
|
Value
($)
|
Unrealized
Appreciation/
(Depreciation)
($)
| |
Purchased |
|||||
Equity
Index Contracts |
|||||
CME
E-mini Russell 2000 Index Contracts (United States) |
4 |
Sep
2023 |
402,720 |
12,952 |
12,952 |
The
notional amount of futures purchased as a percentage of Net Assets is
0.3% |
(a) |
Non-income
producing
|
(b) |
Security
or a portion of the security is on loan at period end.
|
(c) |
Affiliated
fund that is generally available only to investment companies and other
accounts managed by Fidelity Investments. The rate quoted is the
annualized seven-day yield of the fund at period end. A complete unaudited
listing of the fund's holdings as of its most recent quarter end is
available upon request. In addition, each Fidelity Central Fund's
financial statements, which are not covered by the Fund's Report of
Independent Registered Public Accounting Firm, are available on the SEC's
website or upon request.
|
(d) |
Investment
made with cash collateral received from securities on loan.
|
Affiliate
|
Value,
beginning
of
period ($) |
Purchases
($) |
Sales
Proceeds
($) |
Dividend
Income
($) |
Realized
Gain
(loss) ($) |
Change
in
Unrealized
appreciation
(depreciation)
($) |
Value,
end
of
period ($) |
%
ownership,
end
of
period |
Fidelity
Cash Central Fund 5.32% |
79,549 |
4,084,812 |
3,946,944 |
4,938 |
- |
- |
217,417 |
0.0% |
Fidelity
Securities Lending Cash Central Fund 5.32% |
1,034,050 |
16,294,733 |
12,896,733 |
18,149 |
- |
- |
4,432,050 |
0.0% |
Total |
1,113,599 |
20,379,545 |
16,843,677 |
23,087 |
- |
- |
4,649,467 |
|
Valuation
Inputs at Reporting Date: | ||||
Description |
Total
($) |
Level
1 ($) |
Level
2 ($) |
Level
3 ($) |
Investments
in Securities: |
||||
Equities: |
||||
Communication
Services |
3,800,637 |
3,800,637 |
- |
- |
Consumer
Discretionary |
17,618,377 |
17,618,377 |
- |
- |
Consumer
Staples |
4,710,423 |
4,710,423 |
- |
- |
Energy |
6,043,254 |
6,043,254 |
- |
- |
Financials |
19,039,310 |
19,039,310 |
- |
- |
Health
Care |
15,657,258 |
15,657,258 |
- |
- |
Industrials |
23,366,068 |
23,366,068 |
- |
- |
Information
Technology |
17,180,551 |
17,180,551 |
- |
- |
Materials |
6,298,426 |
6,298,426 |
- |
- |
Real
Estate |
7,526,606 |
7,526,606 |
- |
- |
Utilities |
3,272,310 |
3,272,310 |
- |
- |
Money Market
Funds |
4,649,467 |
4,649,467 |
- |
- |
Total Investments in Securities: |
129,162,687 |
129,162,687 |
- |
- |
Derivative
Instruments: |
||||
Assets |
||||
Futures
Contracts |
12,952 |
12,952 |
- |
- |
Total
Assets |
12,952 |
12,952 |
- |
- |
Total Derivative Instruments: |
12,952 |
12,952 |
- |
- |
Primary
Risk Exposure / Derivative Type
|
Value | |
Asset
($) |
Liability
($) | |
Equity
Risk |
||
Futures
Contracts (a) |
12,952 |
0 |
Total
Equity Risk |
12,952 |
0 |
Total
Value of Derivatives |
12,952 |
0 |
Statement
of Assets and Liabilities | ||||
July
31, 2023 | ||||
Assets
|
||||
Investment
in securities, at value (including securities loaned of $4,357,805) - See accompanying
schedule: |
||||
Unaffiliated issuers (cost
$116,197,908) |
$ |
124,513,220 |
||
Fidelity Central Funds (cost
$4,649,467) |
4,649,467 |
|||
Total
Investment in Securities (cost $120,847,375) |
$ |
129,162,687 | ||
Segregated
cash with brokers for derivative instruments |
12,400 | |||
Foreign
currency held at value (cost $1,224) |
1,201 | |||
Receivable
for investments sold |
203,986 | |||
Dividends
receivable |
51,195 | |||
Distributions
receivable from Fidelity Central Funds |
4,916 | |||
Receivable
for daily variation margin on futures contracts |
2,256 | |||
Other
receivables |
1,096 | |||
Total assets |
129,439,737 | |||
Liabilities |
||||
Payable
to custodian bank |
$ |
2,992 |
||
Accrued
management fee |
28,499 |
|||
Collateral
on securities loaned |
4,432,050 |
|||
Total
Liabilities |
4,463,541 | |||
Net
Assets |
$ |
124,976,196 | ||
Net
Assets consist of: |
||||
Paid
in capital |
$ |
125,109,278 | ||
Total
accumulated earnings (loss) |
(133,082) | |||
Net
Assets |
$ |
124,976,196 | ||
Net
Asset Value,
offering price and redemption price per share ($124,976,196 ÷ 3,600,000
shares) |
$ |
34.72 |
Statement
of Operations | ||||
Year
ended
July
31, 2023 | ||||
Investment
Income |
||||
Dividends
|
$ |
1,784,686 | ||
Income
from Fidelity Central Funds (including $18,149 from security lending)
|
23,087 | |||
Total Income |
1,807,773 | |||
Expenses |
||||
Management
fee |
$ |
270,645 |
||
Independent
trustees' fees and expenses |
441 |
|||
Total expenses before reductions |
271,086 |
|||
Expense reductions |
(405) |
|||
Total expenses after reductions |
270,681 | |||
Net
Investment income (loss) |
1,537,092 | |||
Realized
and Unrealized Gain (Loss) |
||||
Net
realized gain (loss) on: |
||||
Investment Securities: |
||||
Unaffiliated issuers |
(2,649,594) |
|||
Redemptions in-kind |
95,289 |
|||
Foreign currency transactions |
(3,159) |
|||
Futures contracts |
(14,920) |
|||
Total
net realized gain (loss) |
(2,572,384) | |||
Change
in net unrealized appreciation (depreciation) on: |
||||
Investment Securities: |
||||
Unaffiliated issuers |
10,090,207 |
|||
Assets and liabilities in foreign
currencies |
(25) |
|||
Futures contracts |
4,090 |
|||
Total
change in net unrealized appreciation (depreciation) |
10,094,272 | |||
Net
gain (loss) |
7,521,888 | |||
Net
increase (decrease) in net assets resulting from
operations |
$ |
9,058,980 |
Statement
of Changes in Net Assets | ||||
Year
ended
July
31, 2023 |
Year
ended
July
31, 2022 | |||
Increase
(Decrease) in Net Assets |
||||
Operations |
||||
Net
investment income (loss) |
$ |
1,537,092 |
$ |
888,934 |
Net
realized gain (loss) |
(2,572,384)
|
5,306,202
| ||
Change
in net unrealized appreciation (depreciation) |
10,094,272 |
(9,612,227)
| ||
Net
increase (decrease) in net assets resulting from
operations |
9,058,980
|
(3,417,091)
| ||
Distributions
to shareholders |
(1,518,700)
|
(905,700)
| ||
Share
transactions |
||||
Proceeds
from sales of shares |
48,425,159 |
67,940,474 | ||
Cost
of shares redeemed |
(2,938,248) |
(59,607,816) | ||
Net increase (decrease) in net assets resulting from share
transactions |
45,486,911
|
8,332,658
| ||
Total
increase (decrease) in net assets |
53,027,191
|
4,009,867
| ||
Net
Assets |
||||
Beginning
of period |
71,949,005 |
67,939,138
| ||
End
of period |
$ |
124,976,196 |
$ |
71,949,005 |
Other
Information |
||||
Shares |
||||
Sold |
1,500,000 |
2,000,000 | ||
Redeemed |
(100,000) |
(1,800,000) | ||
Net
increase (decrease) |
1,400,000 |
200,000 | ||
Fidelity®
Small-Mid Multifactor ETF |
Years
ended July 31, |
2023
|
2022 |
2021 |
2020 |
2019 A | |||||
Selected Per-Share
Data |
||||||||||
Net asset value, beginning
of period |
$ |
32.70 |
$ |
33.97 |
$ |
23.90 |
$ |
25.50 |
$ |
24.85 |
Income from Investment
Operations |
||||||||||
Net investment income (loss) B,C |
.53
|
.45
|
.38
|
.31
|
.18
| |||||
Net realized and unrealized gain (loss)
|
2.01
|
(1.26)
|
10.11
|
(1.58)
|
.64
| |||||
Total from investment
operations |
2.54
|
(.81)
|
10.49
|
(1.27)
|
.82
| |||||
Distributions from net
investment income |
(.52)
|
(.46)
|
(.42)
|
(.33)
|
(.17)
| |||||
Total distributions |
(.52)
|
(.46)
|
(.42)
|
(.33)
|
(.17)
| |||||
Net asset value, end of
period |
$ |
34.72 |
$ |
32.70 |
$ |
33.97 |
$ |
23.90 |
$ |
25.50 |
Total Return D,E,F |
7.92%
|
(2.35)%
|
44.21%
|
(4.90)%
|
3.35%
| |||||
Ratios to Average Net Assets C,G,H |
||||||||||
Expenses before reductions
|
.29%
|
.29%
|
.29%
|
.29%
|
.29%
I | |||||
Expenses net of fee
waivers, if any |
.29%
|
.29%
|
.29%
|
.29%
|
.29%
I | |||||
Expenses net of all
reductions |
.29%
|
.29%
|
.29%
|
.29%
|
.29%
I | |||||
Net investment income
(loss) |
1.65%
|
1.35%
|
1.23%
|
1.32%
|
1.70%
I | |||||
Supplemental Data |
||||||||||
Net assets, end of period
(000 omitted) |
$ |
124,976 |
$ |
71,949 |
$ |
67,939 |
$ |
19,117 |
$ |
7,650 |
Portfolio turnover rate
J,K |
65%
|
60%
|
61%
|
52%
|
2%
L |
Average
Annual Total Returns | |||
Periods
ended July 31, 2023
|
Past
1
year |
Life
of
Fund
|
Fidelity®
Stocks for Inflation ETF - NAV A |
7.77% |
10.73% |
Fidelity®
Stocks for Inflation ETF - Market Price B |
7.80% |
10.66% |
Fidelity
Stocks for Inflation Factor Index℠ A |
8.09% |
11.10% |
Russell
1000® Index A |
12.95% |
12.92% |
$10,000 Over Life of Fund |
Let's
say hypothetically that $10,000 was invested in Fidelity® Stocks for
Inflation ETF - NAV, on November 5, 2019, when the fund
started.
The
chart shows how the value of your investment would have changed, and also
shows how the Fidelity Stocks for Inflation Factor Index℠ and Russell
1000® Index performed over the same period. |
![]() |
Top
Holdings (% of Fund's net
assets) | ||
Apple,
Inc. |
6.2 |
|
Microsoft
Corp. |
5.3 |
|
Exxon
Mobil Corp. |
2.5 |
|
Nucor
Corp. |
2.5 |
|
CF
Industries Holdings, Inc. |
2.4 |
|
Eli
Lilly & Co. |
2.2 |
|
Steel
Dynamics, Inc. |
2.2 |
|
ConocoPhillips
Co. |
2.0 |
|
Philip
Morris International, Inc. |
1.9 |
|
PBF
Energy, Inc. Class A |
1.8 |
|
29.0 |
||
Market
Sectors (% of Fund's net assets) | ||
Information
Technology |
20.7 |
|
Health
Care |
18.1 |
|
Consumer
Staples |
10.5 |
|
Financials |
9.5 |
|
Energy |
9.2 |
|
Materials |
7.1 |
|
Industrials |
5.8 |
|
Consumer
Discretionary |
5.8 |
|
Real
Estate |
4.9 |
|
Utilities |
4.4 |
|
Communication
Services |
3.7 |
|
Asset
Allocation (% of Fund's net assets)
|
![]() |
Futures - 0.2% |
Common
Stocks - 99.7% | |||
Shares |
Value
($)
| ||
COMMUNICATION
SERVICES - 3.7% |
|||
Diversified
Telecommunication Services - 1.0% |
|||
AT&T,
Inc. |
16,454 |
238,912 | |
Iridium
Communications, Inc. |
25,231 |
1,325,889 | |
1,564,801 | |||
Interactive
Media & Services - 2.2% |
|||
Alphabet,
Inc. Class A (a) |
14,980 |
1,988,146 | |
Meta
Platforms, Inc. Class A (a) |
3,534 |
1,125,932 | |
Ziff
Davis, Inc. (a) |
1,800 |
130,536 | |
3,244,614 | |||
Media
- 0.5% |
|||
Comcast
Corp. Class A |
9,088 |
411,323 | |
Nexstar
Broadcasting Group, Inc. Class A |
810 |
151,243 | |
TEGNA,
Inc. |
8,200 |
138,580 | |
701,146 | |||
TOTAL COMMUNICATION
SERVICES |
5,510,561 | ||
CONSUMER
DISCRETIONARY - 5.8% |
|||
Broadline
Retail - 0.3% |
|||
Macy's,
Inc. |
26,664 |
442,356 | |
Diversified
Consumer Services - 0.4% |
|||
H&R
Block, Inc. |
16,633 |
559,035 | |
Hotels,
Restaurants & Leisure - 1.3% |
|||
McDonald's
Corp. |
3,865 |
1,133,218 | |
Yum!
Brands, Inc. |
5,541 |
762,829 | |
1,896,047 | |||
Household
Durables - 0.5% |
|||
Taylor
Morrison Home Corp. (a) |
17,337 |
839,458 | |
Specialty
Retail - 3.3% |
|||
Academy
Sports & Outdoors, Inc. |
10,416 |
622,773 | |
AutoZone,
Inc. (a) |
299 |
742,034 | |
Murphy
U.S.A., Inc. |
2,491 |
764,812 | |
O'Reilly
Automotive, Inc. (a) |
918 |
849,875 | |
The
Home Depot, Inc. |
3,884 |
1,296,635 | |
Ulta
Beauty, Inc. (a) |
1,326 |
589,805 | |
4,865,934 | |||
TOTAL CONSUMER
DISCRETIONARY |
8,602,830 | ||
CONSUMER
STAPLES - 10.5% |
|||
Food
Products - 3.4% |
|||
Archer
Daniels Midland Co. |
30,312 |
2,575,308 | |
General
Mills, Inc. |
32,850 |
2,455,209 | |
5,030,517 | |||
Household
Products - 3.5% |
|||
Colgate-Palmolive
Co. |
34,630 |
2,640,884 | |
Kimberly-Clark
Corp. |
19,127 |
2,469,296 | |
5,110,180 | |||
Tobacco
- 3.6% |
|||
Altria
Group, Inc. |
56,074 |
2,546,881 | |
Philip
Morris International, Inc. |
28,100 |
2,802,132 | |
5,349,013 | |||
TOTAL CONSUMER STAPLES |
15,489,710 | ||
ENERGY
- 9.2% |
|||
Oil,
Gas & Consumable Fuels - 9.2% |
|||
ConocoPhillips
Co. |
24,692 |
2,906,742 | |
Exxon
Mobil Corp. |
35,040 |
3,757,690 | |
Occidental
Petroleum Corp. |
38,628 |
2,438,586 | |
PBF
Energy, Inc. Class A |
56,716 |
2,690,607 | |
Texas
Pacific Land Corp. |
1,187 |
1,787,978 | |
13,581,603 | |||
FINANCIALS
- 9.5% |
|||
Banks
- 0.9% |
|||
First
Citizens Bancshares, Inc. |
983 |
1,406,968 | |
Capital
Markets - 0.7% |
|||
Goldman
Sachs Group, Inc. |
2,728 |
970,813 | |
Consumer
Finance - 1.0% |
|||
Discover
Financial Services |
6,908 |
729,139 | |
Synchrony
Financial |
20,740 |
716,360 | |
1,445,499 | |||
Financial
Services - 3.7% |
|||
Essent
Group Ltd. |
17,088 |
847,565 | |
Fiserv,
Inc. (a) |
5,697 |
719,018 | |
MasterCard,
Inc. Class A |
3,583 |
1,412,705 | |
MGIC
Investment Corp. |
52,954 |
886,450 | |
Visa,
Inc. Class A |
6,577 |
1,563,550 | |
5,429,288 | |||
Insurance
- 3.2% |
|||
American
International Group, Inc. |
14,202 |
856,097 | |
Everest
Re Group Ltd. |
2,273 |
819,439 | |
MetLife,
Inc. |
12,092 |
761,433 | |
Principal
Financial Group, Inc. |
8,533 |
681,531 | |
RLI
Corp. |
5,819 |
776,313 | |
Unum
Group |
18,647 |
906,431 | |
4,801,244 | |||
TOTAL FINANCIALS |
14,053,812 | ||
HEALTH
CARE - 18.1% |
|||
Biotechnology
- 8.3% |
|||
AbbVie,
Inc. |
16,347 |
2,445,184 | |
Amgen,
Inc. |
7,792 |
1,824,497 | |
Gilead
Sciences, Inc. |
22,289 |
1,697,084 | |
Moderna,
Inc. (a) |
9,392 |
1,105,063 | |
Regeneron
Pharmaceuticals, Inc. (a) |
2,311 |
1,714,554 | |
United
Therapeutics Corp. (a) |
5,742 |
1,393,698 | |
Vertex
Pharmaceuticals, Inc. (a) |
5,685 |
2,003,053 | |
12,183,133 | |||
Health
Care Providers & Services - 3.5% |
|||
Cardinal
Health, Inc. |
19,905 |
1,820,710 | |
Humana,
Inc. |
3,412 |
1,558,704 | |
McKesson
Corp. |
4,460 |
1,794,704 | |
5,174,118 | |||
Pharmaceuticals
- 6.3% |
|||
Bristol-Myers
Squibb Co. |
27,532 |
1,712,215 | |
Eli
Lilly & Co. |
7,213 |
3,278,669 | |
Merck
& Co., Inc. |
23,100 |
2,463,615 | |
Pfizer,
Inc. |
52,821 |
1,904,725 | |
9,359,224 | |||
TOTAL HEALTH CARE |
26,716,475 | ||
INDUSTRIALS
- 5.8% |
|||
Aerospace
& Defense - 1.0% |
|||
Lockheed
Martin Corp. |
1,750 |
781,148 | |
Northrop
Grumman Corp. |
1,654 |
736,030 | |
1,517,178 | |||
Building
Products - 1.8% |
|||
Builders
FirstSource, Inc. (a) |
7,637 |
1,103,012 | |
Owens
Corning |
6,209 |
869,198 | |
UFP
Industries, Inc. |
6,436 |
661,363 | |
2,633,573 | |||
Electrical
Equipment - 0.5% |
|||
Atkore,
Inc. (a) |
4,481 |
711,000 | |
Machinery
- 0.9% |
|||
Mueller
Industries, Inc. |
9,003 |
729,783 | |
Snap-On,
Inc. |
2,506 |
682,735 | |
1,412,518 | |||
Professional
Services - 1.1% |
|||
Automatic
Data Processing, Inc. |
3,020 |
746,725 | |
ExlService
Holdings, Inc. (a) |
2,483 |
349,979 | |
Paychex,
Inc. |
4,366 |
547,802 | |
1,644,506 | |||
Trading
Companies & Distributors - 0.5% |
|||
Triton
International Ltd. |
8,675 |
731,389 | |
TOTAL INDUSTRIALS |
8,650,164 | ||
INFORMATION
TECHNOLOGY - 20.7% |
|||
Communications
Equipment - 0.7% |
|||
Cisco
Systems, Inc. |
20,371 |
1,060,107 | |
IT
Services - 2.5% |
|||
Accenture
PLC Class A |
3,247 |
1,027,188 | |
Amdocs
Ltd. |
4,748 |
444,603 | |
DXC
Technology Co. (a) |
14,652 |
405,128 | |
Gartner,
Inc. (a) |
1,416 |
500,683 | |
IBM
Corp. |
5,674 |
818,077 | |
VeriSign,
Inc. (a) |
2,127 |
448,691 | |
3,644,370 | |||
Semiconductors
& Semiconductor Equipment - 4.8% |
|||
Analog
Devices, Inc. |
3,809 |
760,010 | |
Broadcom,
Inc. |
1,865 |
1,675,982 | |
Enphase
Energy, Inc. (a) |
2,216 |
336,455 | |
KLA
Corp. |
1,411 |
725,183 | |
Microchip
Technology, Inc. |
6,497 |
610,328 | |
ON
Semiconductor Corp. (a) |
6,303 |
679,148 | |
Qualcomm,
Inc. |
6,315 |
834,654 | |
Rambus,
Inc. (a) |
9,642 |
603,686 | |
Texas
Instruments, Inc. |
4,886 |
879,480 | |
7,104,926 | |||
Software
- 6.5% |
|||
Cadence
Design Systems, Inc. (a) |
2,989 |
699,456 | |
Dropbox,
Inc. Class A (a) |
17,749 |
478,336 | |
Fair
Isaac Corp. (a) |
673 |
563,954 | |
Microsoft
Corp. |
23,322 |
7,834,326 | |
9,576,072 | |||
Technology
Hardware, Storage & Peripherals - 6.2% |
|||
Apple,
Inc. |
46,392 |
9,113,708 | |
TOTAL INFORMATION
TECHNOLOGY |
30,499,183 | ||
MATERIALS
- 7.1% |
|||
Chemicals
- 2.4% |
|||
CF
Industries Holdings, Inc. |
43,531 |
3,573,024 | |
Metals
& Mining - 4.7% |
|||
Nucor
Corp. |
21,537 |
3,706,302 | |
Steel
Dynamics, Inc. |
29,536 |
3,147,947 | |
6,854,249 | |||
TOTAL MATERIALS |
10,427,273 | ||
REAL
ESTATE - 4.9% |
|||
Equity
Real Estate Investment Trusts (REITs) - 4.9% |
|||
Gaming
& Leisure Properties |
46,530 |
2,208,314 | |
Omega
Healthcare Investors, Inc. |
82,579 |
2,634,270 | |
VICI
Properties, Inc. |
74,430 |
2,343,056 | |
7,185,640 | |||
UTILITIES
- 4.4% |
|||
Electric
Utilities - 1.7% |
|||
NRG
Energy, Inc. |
66,729 |
2,535,035 | |
Gas
Utilities - 1.5% |
|||
National
Fuel Gas Co. |
40,057 |
2,127,427 | |
Independent
Power and Renewable Electricity Producers - 1.2% |
|||
Clearway
Energy, Inc. Class C |
67,285 |
1,776,997 | |
TOTAL UTILITIES |
6,439,459 | ||
TOTAL
COMMON STOCKS
(Cost
$141,771,314) |
147,156,710 | ||
Money
Market Funds - 0.1% | |||
Shares |
Value
($)
| ||
Fidelity
Cash Central Fund 5.32% (b)
(Cost
$107,212)
|
107,190 |
107,212 | |
TOTAL
INVESTMENT IN SECURITIES - 99.8%
(Cost
$141,878,526)
|
147,263,922 |
NET
OTHER ASSETS (LIABILITIES) - 0.2% |
234,916 |
NET
ASSETS - 100.0% |
147,498,838 |
Futures
Contracts | |||||
Number
of
contracts |
Expiration
Date |
Notional
Amount
($)
|
Value
($)
|
Unrealized
Appreciation/
(Depreciation)
($)
| |
Purchased |
|||||
Equity
Index Contracts |
|||||
CME
E-mini S&P 500 Index Contracts (United States) |
1 |
Sep
2023 |
230,725 |
13,260 |
13,260 |
The
notional amount of futures purchased as a percentage of Net Assets is
0.2% |
(a) |
Non-income
producing
|
(b) |
Affiliated
fund that is generally available only to investment companies and other
accounts managed by Fidelity Investments. The rate quoted is the
annualized seven-day yield of the fund at period end. A complete unaudited
listing of the fund's holdings as of its most recent quarter end is
available upon request. In addition, each Fidelity Central Fund's
financial statements, which are not covered by the Fund's Report of
Independent Registered Public Accounting Firm, are available on the SEC's
website or upon request.
|
Affiliate
|
Value,
beginning
of
period ($) |
Purchases
($) |
Sales
Proceeds
($) |
Dividend
Income
($) |
Realized
Gain
(loss) ($) |
Change
in
Unrealized
appreciation
(depreciation)
($) |
Value,
end
of
period ($) |
%
ownership,
end
of
period |
Fidelity
Cash Central Fund 5.32% |
111,694 |
6,933,617 |
6,938,099 |
4,447 |
- |
- |
107,212 |
0.0% |
Total |
111,694 |
6,933,617 |
6,938,099 |
4,447 |
- |
- |
107,212 |
|
Valuation
Inputs at Reporting Date: | ||||
Description |
Total
($) |
Level
1 ($) |
Level
2 ($) |
Level
3 ($) |
Investments
in Securities: |
||||
Equities: |
||||
Communication
Services |
5,510,561 |
5,510,561 |
- |
- |
Consumer
Discretionary |
8,602,830 |
8,602,830 |
- |
- |
Consumer
Staples |
15,489,710 |
15,489,710 |
- |
- |
Energy |
13,581,603 |
13,581,603 |
- |
- |
Financials |
14,053,812 |
14,053,812 |
- |
- |
Health
Care |
26,716,475 |
26,716,475 |
- |
- |
Industrials |
8,650,164 |
8,650,164 |
- |
- |
Information
Technology |
30,499,183 |
30,499,183 |
- |
- |
Materials |
10,427,273 |
10,427,273 |
- |
- |
Real
Estate |
7,185,640 |
7,185,640 |
- |
- |
Utilities |
6,439,459 |
6,439,459 |
- |
- |
Money Market
Funds |
107,212 |
107,212 |
- |
- |
Total Investments in Securities: |
147,263,922 |
147,263,922 |
- |
- |
Derivative
Instruments: |
||||
Assets |
||||
Futures
Contracts |
13,260 |
13,260 |
- |
- |
Total
Assets |
13,260 |
13,260 |
- |
- |
Total Derivative Instruments: |
13,260 |
13,260 |
- |
- |
Primary
Risk Exposure / Derivative Type
|
Value | |
Asset
($) |
Liability
($) | |
Equity
Risk |
||
Futures
Contracts (a) |
13,260 |
0 |
Total
Equity Risk |
13,260 |
0 |
Total
Value of Derivatives |
13,260 |
0 |
Statement
of Assets and Liabilities | ||||
July
31, 2023 | ||||
Assets
|
||||
Investment
in securities, at value - See accompanying
schedule: |
||||
Unaffiliated issuers (cost
$141,771,314) |
$ |
147,156,710 |
||
Fidelity Central Funds (cost
$107,212) |
107,212 |
|||
Total
Investment in Securities (cost $141,878,526) |
$ |
147,263,922 | ||
Segregated
cash with brokers for derivative instruments |
11,200 | |||
Cash |
42,543 | |||
Receivable
for investments sold |
1,661,661 | |||
Dividends
receivable |
232,558 | |||
Distributions
receivable from Fidelity Central Funds |
377 | |||
Receivable
for daily variation margin on futures contracts |
400 | |||
Total assets |
149,212,661 | |||
Liabilities |
||||
Payable
for fund shares redeemed |
$ |
1,676,123 |
||
Accrued
management fee |
37,700 |
|||
Total
Liabilities |
1,713,823 | |||
Net
Assets |
$ |
147,498,838 | ||
Net
Assets consist of: |
||||
Paid
in capital |
$ |
162,971,612 | ||
Total
accumulated earnings (loss) |
(15,472,774) | |||
Net
Assets |
$ |
147,498,838 | ||
Net
Asset Value,
offering price and redemption price per share ($147,498,838 ÷ 4,400,000
shares) |
$ |
33.52 |
Statement
of Operations | ||||
Year
ended
July
31, 2023 | ||||
Investment
Income |
||||
Dividends
|
$ |
4,658,104 | ||
Income
from Fidelity Central Funds |
4,447 | |||
Total Income |
4,662,551 | |||
Expenses |
||||
Management
fee |
$ |
602,121 |
||
Independent
trustees' fees and expenses |
1,094 |
|||
Total expenses before reductions |
603,215 |
|||
Expense reductions |
(328) |
|||
Total expenses after reductions |
602,887 | |||
Net
Investment income (loss) |
4,059,664 | |||
Realized
and Unrealized Gain (Loss) |
||||
Net
realized gain (loss) on: |
||||
Investment Securities: |
||||
Unaffiliated issuers |
(14,017,400) |
|||
Redemptions in-kind |
2,066,581 |
|||
Futures contracts |
8,736 |
|||
Total
net realized gain (loss) |
(11,942,083) | |||
Change
in net unrealized appreciation (depreciation) on: |
||||
Investment Securities: |
||||
Unaffiliated issuers |
19,409,648 |
|||
Futures contracts |
13,260 |
|||
Total
change in net unrealized appreciation (depreciation) |
19,422,908 | |||
Net
gain (loss) |
7,480,825 | |||
Net
increase (decrease) in net assets resulting from
operations |
$ |
11,540,489 |
Statement
of Changes in Net Assets | ||||
Year
ended
July
31, 2023 |
Year
ended
July
31, 2022 | |||
Increase
(Decrease) in Net Assets |
||||
Operations |
||||
Net
investment income (loss) |
$ |
4,059,664 |
$ |
2,664,450 |
Net
realized gain (loss) |
(11,942,083)
|
4,384,711
| ||
Change
in net unrealized appreciation (depreciation) |
19,422,908 |
(16,922,706)
| ||
Net
increase (decrease) in net assets resulting from
operations |
11,540,489
|
(9,873,545)
| ||
Distributions
to shareholders |
(4,166,950)
|
(2,544,600)
| ||
Share
transactions |
||||
Proceeds
from sales of shares |
7,889,065 |
327,785,389 | ||
Cost
of shares redeemed |
(128,142,495) |
(101,071,269) | ||
Net increase (decrease) in net assets resulting from share
transactions |
(120,253,430)
|
226,714,120
| ||
Total
increase (decrease) in net assets |
(112,879,891)
|
214,295,975
| ||
Net
Assets |
||||
Beginning
of period |
260,378,729 |
46,082,754
| ||
End
of period |
$ |
147,498,838 |
$ |
260,378,729 |
Other
Information |
||||
Shares |
||||
Sold |
250,000 |
9,900,000 | ||
Redeemed |
(4,050,000) |
(3,200,000) | ||
Net
increase (decrease) |
(3,800,000) |
6,700,000 | ||
Fidelity®
Stocks for Inflation ETF |
Years
ended July 31, |
2023
|
2022 |
2021 |
2020 A | ||||
Selected Per-Share
Data |
||||||||
Net asset value, beginning
of period |
$ |
31.75 |
$ |
30.72 |
$ |
24.07 |
$ |
24.94 |
Income from Investment
Operations |
||||||||
Net investment income (loss) B,C |
.61
|
.54
|
.39
|
.38
| ||||
Net realized and unrealized gain (loss)
|
1.80
|
1.00
D |
7.08
|
(.90)
| ||||
Total from investment
operations |
2.41
|
1.54
|
7.47
|
(.52)
| ||||
Distributions from net
investment income |
(.64)
|
(.51)
|
(.82)
|
(.35)
| ||||
Total distributions |
(.64)
|
(.51)
|
(.82)
|
(.35)
| ||||
Net asset value, end of
period |
$ |
33.52 |
$ |
31.75 |
$ |
30.72 |
$ |
24.07 |
Total Return E,F,G |
7.77%
|
5.03%
|
31.78%
|
(1.88)%
| ||||
Ratios to Average Net Assets C,H,I |
||||||||
Expenses before reductions
|
.29%
|
.29%
|
.29%
|
.29%
J,K | ||||
Expenses net of fee
waivers, if any |
.29%
|
.29%
|
.29%
|
.29%
J,K | ||||
Expenses net of all
reductions |
.29%
|
.29%
|
.29%
|
.29%
J,K | ||||
Net investment income
(loss) |
1.95%
|
1.68%
|
1.34%
|
2.16%
J,K | ||||
Supplemental Data |
||||||||
Net assets, end of period
(000 omitted) |
$ |
147,499 |
$ |
260,379 |
$ |
46,083 |
$ |
3,610 |
Portfolio turnover rate
L,M |
105%
|
76%
|
52%
|
65%
N |
Average
Annual Total Returns | |||
Periods
ended July 31, 2023
|
Past
1
year |
Life
of
Fund
|
Fidelity®
U.S. Multifactor ETF - NAV A |
10.78% |
12.46% |
Fidelity®
U.S. Multifactor ETF - Market Price B |
10.69% |
12.98% |
Fidelity
U.S. Multifactor Index℠ A |
11.13% |
12.82% |
Russell
1000® Index A |
12.95% |
12.15% |
$10,000 Over Life of Fund |
Let's
say hypothetically that $10,000 was invested in Fidelity® U.S. Multifactor
ETF - NAV, on September 15, 2020, when the fund started.
The
chart shows how the value of your investment would have changed, and also
shows how the Fidelity U.S. Multifactor Index℠ and Russell 1000® Index
performed over the same period. |
![]() |
Top
Holdings (% of Fund's net
assets) | ||
Apple,
Inc. |
7.5 |
|
Microsoft
Corp. |
6.4 |
|
Alphabet,
Inc. Class A |
4.1 |
|
Eli
Lilly & Co. |
1.7 |
|
Johnson
& Johnson |
1.6 |
|
Procter
& Gamble Co. |
1.6 |
|
Exxon
Mobil Corp. |
1.6 |
|
The
Home Depot, Inc. |
1.6 |
|
Broadcom,
Inc. |
1.4 |
|
McDonald's
Corp. |
1.4 |
|
28.9 |
||
Market
Sectors (% of Fund's net assets) | ||
Information
Technology |
24.2 |
|
Financials |
15.3 |
|
Health
Care |
13.2 |
|
Industrials |
11.1 |
|
Consumer
Discretionary |
9.8 |
|
Communication
Services |
7.9 |
|
Consumer
Staples |
6.4 |
|
Energy |
4.3 |
|
Materials |
2.7 |
|
Real
Estate |
2.6 |
|
Utilities |
2.3 |
|
Asset
Allocation (% of Fund's net assets)
|
![]() |
Futures - 0.1% |
Common
Stocks - 99.8% | |||
Shares |
Value
($)
| ||
COMMUNICATION
SERVICES - 7.9% |
|||
Diversified
Telecommunication Services - 0.5% |
|||
AT&T,
Inc. |
13,298 |
193,087 | |
Entertainment
- 0.7% |
|||
Activision
Blizzard, Inc. |
2,534 |
235,054 | |
Interactive
Media & Services - 4.5% |
|||
Alphabet,
Inc. Class A (a) |
10,759 |
1,427,934 | |
Ziff
Davis, Inc. (a) |
1,649 |
119,585 | |
1,547,519 | |||
Media
- 2.2% |
|||
Comcast
Corp. Class A |
7,223 |
326,913 | |
Fox
Corp. Class A |
4,649 |
155,509 | |
Nexstar
Broadcasting Group, Inc. Class A |
737 |
137,613 | |
TEGNA,
Inc. |
7,563 |
127,815 | |
747,850 | |||
TOTAL COMMUNICATION
SERVICES |
2,723,510 | ||
CONSUMER
DISCRETIONARY - 9.8% |
|||
Diversified
Consumer Services - 1.4% |
|||
H&R
Block, Inc. |
6,935 |
233,085 | |
Service
Corp. International |
3,756 |
250,337 | |
483,422 | |||
Hotels,
Restaurants & Leisure - 2.3% |
|||
McDonald's
Corp. |
1,617 |
474,104 | |
Yum!
Brands, Inc. |
2,308 |
317,742 | |
791,846 | |||
Household
Durables - 1.0% |
|||
Lennar
Corp. Class A |
2,682 |
340,158 | |
Specialty
Retail - 5.1% |
|||
Academy
Sports & Outdoors, Inc. |
4,342 |
259,608 | |
AutoZone,
Inc. (a) |
125 |
310,215 | |
Murphy
U.S.A., Inc. |
1,037 |
318,390 | |
O'Reilly
Automotive, Inc. (a) |
382 |
353,652 | |
The
Home Depot, Inc. |
1,630 |
544,159 | |
1,786,024 | |||
TOTAL CONSUMER
DISCRETIONARY |
3,401,450 | ||
CONSUMER
STAPLES - 6.4% |
|||
Consumer
Staples Distribution & Retail - 0.7% |
|||
Dollar
General Corp. |
1,336 |
225,597 | |
Food
Products - 0.7% |
|||
The
Hershey Co. |
1,091 |
252,359 | |
Household
Products - 3.2% |
|||
Colgate-Palmolive
Co. |
3,771 |
287,576 | |
Kimberly-Clark
Corp. |
2,024 |
261,298 | |
Procter
& Gamble Co. |
3,560 |
556,428 | |
1,105,302 | |||
Tobacco
- 1.8% |
|||
Altria
Group, Inc. |
6,319 |
287,009 | |
Philip
Morris International, Inc. |
3,479 |
346,926 | |
633,935 | |||
TOTAL CONSUMER STAPLES |
2,217,193 | ||
ENERGY
- 4.3% |
|||
Oil,
Gas & Consumable Fuels - 4.3% |
|||
ConocoPhillips
Co. |
2,733 |
321,729 | |
Coterra
Energy, Inc. |
8,316 |
229,023 | |
Exxon
Mobil Corp. |
5,114 |
548,425 | |
Texas
Pacific Land Corp. |
103 |
155,149 | |
Valero
Energy Corp. |
1,743 |
224,690 | |
1,479,016 | |||
FINANCIALS
- 15.3% |
|||
Banks
- 0.9% |
|||
Popular,
Inc. |
4,277 |
310,296 | |
Financial
Services - 5.6% |
|||
Essent
Group Ltd. |
6,816 |
338,074 | |
Fiserv,
Inc. (a) |
1,615 |
203,829 | |
Jack
Henry & Associates, Inc. |
702 |
117,634 | |
MasterCard,
Inc. Class A |
1,015 |
400,194 | |
MGIC
Investment Corp. |
21,108 |
353,348 | |
The
Western Union Co. |
8,469 |
103,152 | |
Visa,
Inc. Class A |
1,863 |
442,891 | |
1,959,122 | |||
Insurance
- 8.8% |
|||
AFLAC,
Inc. |
4,799 |
347,160 | |
Arch
Capital Group Ltd. (a) |
5,167 |
401,424 | |
Chubb
Ltd. |
1,762 |
360,170 | |
Everest
Re Group Ltd. |
906 |
326,622 | |
Progressive
Corp. |
2,694 |
339,390 | |
RLI
Corp. |
2,323 |
309,911 | |
The
Travelers Companies, Inc. |
1,835 |
316,739 | |
Unum
Group |
7,436 |
361,464 | |
W.R.
Berkley Corp. |
4,646 |
286,612 | |
3,049,492 | |||
TOTAL FINANCIALS |
5,318,910 | ||
HEALTH
CARE - 13.2% |
|||
Biotechnology
- 5.1% |
|||
AbbVie,
Inc. |
2,859 |
427,649 | |
Amgen,
Inc. |
1,261 |
295,263 | |
Gilead
Sciences, Inc. |
3,521 |
268,089 | |
Regeneron
Pharmaceuticals, Inc. (a) |
358 |
265,604 | |
United
Therapeutics Corp. (a) |
817 |
198,302 | |
Vertex
Pharmaceuticals, Inc. (a) |
878 |
309,355 | |
1,764,262 | |||
Health
Care Providers & Services - 1.3% |
|||
AMN
Healthcare Services, Inc. (a) |
2,009 |
215,264 | |
Molina
Healthcare, Inc. (a) |
712 |
216,797 | |
432,061 | |||
Pharmaceuticals
- 6.8% |
|||
Bristol-Myers
Squibb Co. |
4,535 |
282,032 | |
Eli
Lilly & Co. |
1,264 |
574,551 | |
Johnson
& Johnson |
3,384 |
566,922 | |
Merck
& Co., Inc. |
4,053 |
432,252 | |
Pfizer,
Inc. |
9,206 |
331,968 | |
Royalty
Pharma PLC |
5,505 |
172,747 | |
2,360,472 | |||
TOTAL HEALTH CARE |
4,556,795 | ||
INDUSTRIALS
- 11.1% |
|||
Aerospace
& Defense - 2.2% |
|||
Lockheed
Martin Corp. |
866 |
386,556 | |
Northrop
Grumman Corp. |
818 |
364,010 | |
750,566 | |||
Air
Freight & Logistics - 1.0% |
|||
Expeditors
International of Washington, Inc. |
2,722 |
346,511 | |
Commercial
Services & Supplies - 1.1% |
|||
Waste
Management, Inc. |
2,357 |
386,053 | |
Electrical
Equipment - 1.0% |
|||
Atkore,
Inc. (a) |
2,216 |
351,613 | |
Machinery
- 3.2% |
|||
Allison
Transmission Holdings, Inc. |
6,800 |
399,092 | |
Mueller
Industries, Inc. |
4,451 |
360,798 | |
Snap-On,
Inc. |
1,237 |
337,008 | |
1,096,898 | |||
Professional
Services - 2.6% |
|||
Automatic
Data Processing, Inc. |
855 |
211,407 | |
ExlService
Holdings, Inc. (a) |
703 |
99,088 | |
Genpact
Ltd. |
2,604 |
93,978 | |
Paychex,
Inc. |
1,237 |
155,206 | |
Science
Applications International Corp. |
2,994 |
363,292 | |
922,971 | |||
TOTAL INDUSTRIALS |
3,854,612 | ||
INFORMATION
TECHNOLOGY - 24.2% |
|||
Communications
Equipment - 0.9% |
|||
Cisco
Systems, Inc. |
5,776 |
300,583 | |
IT
Services - 2.6% |
|||
Accenture
PLC Class A |
920 |
291,042 | |
Akamai
Technologies, Inc. (a) |
1,415 |
133,718 | |
Amdocs
Ltd. |
1,344 |
125,852 | |
IBM
Corp. |
1,607 |
231,697 | |
VeriSign,
Inc. (a) |
603 |
127,203 | |
909,512 | |||
Semiconductors
& Semiconductor Equipment - 3.3% |
|||
Analog
Devices, Inc. |
1,080 |
215,492 | |
Broadcom,
Inc. |
528 |
474,487 | |
KLA
Corp. |
400 |
205,580 | |
Texas
Instruments, Inc. |
1,385 |
249,300 | |
1,144,859 | |||
Software
- 9.5% |
|||
Adobe,
Inc. (a) |
684 |
373,580 | |
Cadence
Design Systems, Inc. (a) |
846 |
197,972 | |
Fair
Isaac Corp. (a) |
190 |
159,214 | |
Microsoft
Corp. |
6,612 |
2,221,103 | |
Qualys,
Inc. (a) |
976 |
135,469 | |
Synopsys,
Inc. (a) |
444 |
200,599 | |
3,287,937 | |||
Technology
Hardware, Storage & Peripherals - 7.9% |
|||
Apple,
Inc. |
13,151 |
2,583,519 | |
HP,
Inc. |
4,542 |
149,114 | |
2,732,633 | |||
TOTAL INFORMATION
TECHNOLOGY |
8,375,524 | ||
MATERIALS
- 2.7% |
|||
Chemicals
- 0.9% |
|||
CF
Industries Holdings, Inc. |
3,686 |
302,547 | |
Metals
& Mining - 0.9% |
|||
Nucor
Corp. |
1,909 |
328,520 | |
Paper
& Forest Products - 0.9% |
|||
Louisiana-Pacific
Corp. |
4,214 |
320,812 | |
TOTAL MATERIALS |
951,879 | ||
REAL
ESTATE - 2.6% |
|||
Equity
Real Estate Investment Trusts (REITs) - 2.6% |
|||
Public
Storage |
1,157 |
325,985 | |
VICI
Properties, Inc. |
10,043 |
316,154 | |
WP
Carey, Inc. |
3,964 |
267,689 | |
909,828 | |||
UTILITIES
- 2.3% |
|||
Gas
Utilities - 0.8% |
|||
National
Fuel Gas Co. |
5,073 |
269,427 | |
Independent
Power and Renewable Electricity Producers - 0.6% |
|||
Clearway
Energy, Inc. Class C |
8,510 |
224,749 | |
Multi-Utilities
- 0.9% |
|||
Consolidated
Edison, Inc. |
3,338 |
316,643 | |
TOTAL UTILITIES |
810,819 | ||
TOTAL
COMMON STOCKS
(Cost
$31,653,505) |
34,599,536 | ||
Money
Market Funds - 0.1% | |||
Shares |
Value
($)
| ||
Fidelity
Cash Central Fund 5.32% (b)
(Cost
$18,721)
|
18,717 |
18,721 | |
TOTAL
INVESTMENT IN SECURITIES - 99.9%
(Cost
$31,672,226)
|
34,618,257 |
NET
OTHER ASSETS (LIABILITIES) - 0.1% |
34,950 |
NET
ASSETS - 100.0% |
34,653,207 |
Futures
Contracts | |||||
Number
of
contracts |
Expiration
Date |
Notional
Amount
($)
|
Value
($)
|
Unrealized
Appreciation/
(Depreciation)
($)
| |
Purchased |
|||||
Equity
Index Contracts |
|||||
CME
Micro E-mini S&P 500 Index Contracts (United States) |
2 |
Sep
2023 |
46,145 |
2,260 |
2,260 |
The
notional amount of futures purchased as a percentage of Net Assets is
0.1% |
(a) |
Non-income
producing
|
(b) |
Affiliated
fund that is generally available only to investment companies and other
accounts managed by Fidelity Investments. The rate quoted is the
annualized seven-day yield of the fund at period end. A complete unaudited
listing of the fund's holdings as of its most recent quarter end is
available upon request. In addition, each Fidelity Central Fund's
financial statements, which are not covered by the Fund's Report of
Independent Registered Public Accounting Firm, are available on the SEC's
website or upon request.
|
Affiliate
|
Value,
beginning
of
period ($) |
Purchases
($) |
Sales
Proceeds
($) |
Dividend
Income
($) |
Realized
Gain
(loss) ($) |
Change
in
Unrealized
appreciation
(depreciation)
($) |
Value,
end
of
period ($) |
%
ownership,
end
of
period |
Fidelity
Cash Central Fund 5.32% |
- |
450,393 |
431,672 |
189 |
- |
- |
18,721 |
0.0% |
Total |
- |
450,393 |
431,672 |
189 |
- |
- |
18,721 |
|
Valuation
Inputs at Reporting Date: | ||||
Description |
Total
($) |
Level
1 ($) |
Level
2 ($) |
Level
3 ($) |
Investments
in Securities: |
||||
Equities: |
||||
Communication
Services |
2,723,510 |
2,723,510 |
- |
- |
Consumer
Discretionary |
3,401,450 |
3,401,450 |
- |
- |
Consumer
Staples |
2,217,193 |
2,217,193 |
- |
- |
Energy |
1,479,016 |
1,479,016 |
- |
- |
Financials |
5,318,910 |
5,318,910 |
- |
- |
Health
Care |
4,556,795 |
4,556,795 |
- |
- |
Industrials |
3,854,612 |
3,854,612 |
- |
- |
Information
Technology |
8,375,524 |
8,375,524 |
- |
- |
Materials |
951,879 |
951,879 |
- |
- |
Real
Estate |
909,828 |
909,828 |
- |
- |
Utilities |
810,819 |
810,819 |
- |
- |
Money Market
Funds |
18,721 |
18,721 |
- |
- |
Total Investments in Securities: |
34,618,257 |
34,618,257 |
- |
- |
Derivative
Instruments: |
||||
Assets |
||||
Futures
Contracts |
2,260 |
2,260 |
- |
- |
Total
Assets |
2,260 |
2,260 |
- |
- |
Total Derivative Instruments: |
2,260 |
2,260 |
- |
- |
Primary
Risk Exposure / Derivative Type
|
Value | |
Asset
($) |
Liability
($) | |
Equity
Risk |
||
Futures
Contracts (a) |
2,260 |
0 |
Total
Equity Risk |
2,260 |
0 |
Total
Value of Derivatives |
2,260 |
0 |
Statement
of Assets and Liabilities | ||||
July
31, 2023 | ||||
Assets
|
||||
Investment
in securities, at value - See accompanying
schedule: |
||||
Unaffiliated issuers (cost
$31,653,505) |
$ |
34,599,536 |
||
Fidelity Central Funds (cost
$18,721) |
18,721 |
|||
Total
Investment in Securities (cost $31,672,226) |
$ |
34,618,257 | ||
Segregated
cash with brokers for derivative instruments |
2,240 | |||
Cash |
14,846 | |||
Dividends
receivable |
25,700 | |||
Distributions
receivable from Fidelity Central Funds |
82 | |||
Receivable
for daily variation margin on futures contracts |
80 | |||
Total assets |
34,661,205 | |||
Liabilities |
||||
Accrued
management fee |
$ |
7,998 |
||
Total
Liabilities |
7,998 | |||
Net
Assets |
$ |
34,653,207 | ||
Net
Assets consist of: |
||||
Paid
in capital |
$ |
32,802,229 | ||
Total
accumulated earnings (loss) |
1,850,978 | |||
Net
Assets |
$ |
34,653,207 | ||
Net
Asset Value,
offering price and redemption price per share ($34,653,207 ÷ 1,300,000
shares) |
$ |
26.66 |
Statement
of Operations | ||||
Year
ended
July
31, 2023 | ||||
Investment
Income |
||||
Dividends
|
$ |
442,256 | ||
Income
from Fidelity Central Funds |
189 | |||
Total Income |
442,445 | |||
Expenses |
||||
Management
fee |
$ |
66,133 |
||
Independent
trustees' fees and expenses |
104 |
|||
Total expenses before reductions |
66,237 |
|||
Expense reductions |
(172) |
|||
Total expenses after reductions |
66,065 | |||
Net
Investment income (loss) |
376,380 | |||
Realized
and Unrealized Gain (Loss) |
||||
Net
realized gain (loss) on: |
||||
Investment Securities: |
||||
Unaffiliated issuers |
(702,633) |
|||
Redemptions in-kind |
650,191 |
|||
Futures contracts |
1,292 |
|||
Total
net realized gain (loss) |
(51,150) | |||
Change
in net unrealized appreciation (depreciation) on: |
||||
Investment Securities: |
||||
Unaffiliated issuers |
2,839,986 |
|||
Futures contracts |
2,260 |
|||
Total
change in net unrealized appreciation (depreciation) |
2,842,246 | |||
Net
gain (loss) |
2,791,096 | |||
Net
increase (decrease) in net assets resulting from
operations |
$ |
3,167,476 |
Statement
of Changes in Net Assets | ||||
Year
ended
July
31, 2023 |
Year
ended
July
31, 2022 | |||
Increase
(Decrease) in Net Assets |
||||
Operations |
||||
Net
investment income (loss) |
$ |
376,380 |
$ |
236,930 |
Net
realized gain (loss) |
(51,150)
|
433,050
| ||
Change
in net unrealized appreciation (depreciation) |
2,842,246 |
(1,195,944)
| ||
Net
increase (decrease) in net assets resulting from
operations |
3,167,476
|
(525,964)
| ||
Distributions
to shareholders |
(365,300)
|
(235,000)
| ||
Share
transactions |
||||
Proceeds
from sales of shares |
20,841,939 |
9,088,569 | ||
Cost
of shares redeemed |
(3,667,295) |
(5,142,624) | ||
Net increase (decrease) in net assets resulting from share
transactions |
17,174,644
|
3,945,945
| ||
Total
increase (decrease) in net assets |
19,976,820
|
3,184,981
| ||
Net
Assets |
||||
Beginning
of period |
14,676,387 |
11,491,406
| ||
End
of period |
$ |
34,653,207 |
$ |
14,676,387 |
Other
Information |
||||
Shares |
||||
Sold |
850,000 |
350,000 | ||
Redeemed |
(150,000) |
(200,000) | ||
Net
increase (decrease) |
700,000 |
150,000 | ||
Fidelity®
U.S. Multifactor ETF |
Years
ended July 31, |
2023
|
2022 |
2021 A
| |||
Selected Per-Share
Data |
||||||
Net asset value, beginning
of period |
$ |
24.46 |
$ |
25.54 |
$ |
20.09 |
Income from Investment
Operations |
||||||
Net investment income (loss) B,C |
.41
|
.41
|
.31
D | |||
Net realized and unrealized gain (loss)
|
2.19
|
(1.09)
|
5.62
| |||
Total from investment
operations |
2.60
|
(.68)
|
5.93
| |||
Distributions from net
investment income |
(.40)
|
(.40)
|
(.48)
| |||
Total distributions |
(.40)
|
(.40)
|
(.48)
| |||
Net asset value, end of
period |
$ |
26.66 |
$ |
24.46 |
$ |
25.54 |
Total Return E,F,G |
10.78%
|
(2.64)%
|
29.94%
| |||
Ratios to Average Net Assets C,H,I |
||||||
Expenses before reductions
|
.29%
|
.29%
|
.29%
J | |||
Expenses net of fee
waivers, if any |
.29%
|
.29%
|
.29%
J | |||
Expenses net of all
reductions |
.29%
|
.29%
|
.29%
J | |||
Net investment income
(loss) |
1.66%
|
1.63%
|
1.56%
D,J | |||
Supplemental Data |
||||||
Net assets, end of period
(000 omitted) |
$ |
34,653 |
$ |
14,676 |
$ |
11,491 |
Portfolio turnover rate
K,L |
45%
|
46%
|
30%
M |
Average
Annual Total Returns | |||
Periods
ended July 31, 2023
|
Past
1
year |
Past
5
years |
Life
of
Fund
|
Fidelity®
Value Factor ETF - NAV A |
12.33% |
10.54% |
12.67% |
Fidelity®
Value Factor ETF - Market Price B |
12.37% |
10.51% |
12.75% |
Fidelity
U.S. Value Factor Index℠ A |
12.64% |
10.85% |
13.00% |
Russell
1000® Index A |
12.95% |
11.92% |
13.38% |
$10,000 Over Life of Fund |
Let's
say hypothetically that $10,000 was invested in Fidelity® Value Factor ETF
- NAV, on September 12, 2016, when the fund started.
The
chart shows how the value of your investment would have changed, and also
shows how the Fidelity U.S. Value Factor Index℠ and Russell 1000® Index
performed over the same period. |
![]() |
Top
Holdings (% of Fund's net
assets) | ||
Apple,
Inc. |
8.0 |
|
Microsoft
Corp. |
6.9 |
|
Alphabet,
Inc. Class A |
4.0 |
|
Amazon.com,
Inc. |
3.4 |
|
Meta
Platforms, Inc. Class A |
2.3 |
|
Berkshire
Hathaway, Inc. Class B |
2.0 |
|
Broadcom,
Inc. |
2.0 |
|
UnitedHealth
Group, Inc. |
1.8 |
|
Visa,
Inc. Class A |
1.7 |
|
Johnson
& Johnson |
1.7 |
|
33.8 |
||
Market
Sectors (% of Fund's net assets) | ||
Information
Technology |
25.6 |
|
Financials |
14.5 |
|
Health
Care |
12.2 |
|
Consumer
Discretionary |
11.1 |
|
Industrials |
9.3 |
|
Communication
Services |
8.8 |
|
Consumer
Staples |
5.8 |
|
Energy |
4.5 |
|
Real
Estate |
2.7 |
|
Materials |
2.7 |
|
Utilities |
2.5 |
|
Asset
Allocation (% of Fund's net assets)
|
![]() |
Futures - 0.3% |
Common
Stocks - 99.7% | |||
Shares |
Value
($)
| ||
COMMUNICATION
SERVICES - 8.8% |
|||
Diversified
Telecommunication Services - 0.4% |
|||
Liberty
Global PLC Class A (a) |
91,894 |
1,706,472 | |
Interactive
Media & Services - 6.3% |
|||
Alphabet,
Inc. Class A (a) |
159,560 |
21,176,803 | |
Meta
Platforms, Inc. Class A (a) |
38,230 |
12,180,078 | |
33,356,881 | |||
Media
- 2.1% |
|||
Comcast
Corp. Class A |
100,151 |
4,532,834 | |
Fox
Corp. Class A |
59,535 |
1,991,446 | |
Nexstar
Broadcasting Group, Inc. Class A |
9,368 |
1,749,193 | |
Paramount
Global Class B (b) |
81,421 |
1,305,179 | |
TEGNA,
Inc. |
95,759 |
1,618,327 | |
11,196,979 | |||
TOTAL COMMUNICATION
SERVICES |
46,260,332 | ||
CONSUMER
DISCRETIONARY - 11.1% |
|||
Automobiles
- 1.3% |
|||
Ford
Motor Co. |
249,342 |
3,293,808 | |
General
Motors Co. |
86,760 |
3,328,981 | |
6,622,789 | |||
Broadline
Retail - 3.8% |
|||
Amazon.com,
Inc. (a) |
136,668 |
18,269,778 | |
Macy's,
Inc. |
120,611 |
2,000,936 | |
20,270,714 | |||
Diversified
Consumer Services - 0.5% |
|||
H&R
Block, Inc. (b) |
75,141 |
2,525,489 | |
Hotels,
Restaurants & Leisure - 2.0% |
|||
Booking
Holdings, Inc. (a) |
1,647 |
4,892,908 | |
McDonald's
Corp. |
20,053 |
5,879,540 | |
10,772,448 | |||
Household
Durables - 2.2% |
|||
Lennar
Corp. Class A |
29,815 |
3,781,436 | |
Taylor
Morrison Home Corp. (a) |
78,082 |
3,780,730 | |
Toll
Brothers, Inc. |
47,678 |
3,829,974 | |
11,392,140 | |||
Specialty
Retail - 1.3% |
|||
The
Home Depot, Inc. |
21,259 |
7,097,105 | |
TOTAL CONSUMER
DISCRETIONARY |
58,680,685 | ||
CONSUMER
STAPLES - 5.8% |
|||
Consumer
Staples Distribution & Retail - 0.6% |
|||
Kroger
Co. |
65,190 |
3,170,842 | |
Food
Products - 1.7% |
|||
Archer
Daniels Midland Co. |
38,042 |
3,232,048 | |
Bunge
Ltd. |
27,855 |
3,027,003 | |
Tyson
Foods, Inc. Class A |
43,002 |
2,396,071 | |
8,655,122 | |||
Household
Products - 2.0% |
|||
Kimberly-Clark
Corp. |
23,929 |
3,089,234 | |
Procter
& Gamble Co. |
47,759 |
7,464,732 | |
10,553,966 | |||
Tobacco
- 1.5% |
|||
Altria
Group, Inc. |
77,075 |
3,500,747 | |
Philip
Morris International, Inc. |
44,217 |
4,409,319 | |
7,910,066 | |||
TOTAL CONSUMER STAPLES |
30,289,996 | ||
ENERGY
- 4.5% |
|||
Oil,
Gas & Consumable Fuels - 4.5% |
|||
Chevron
Corp. |
28,639 |
4,687,059 | |
ConocoPhillips
Co. |
25,231 |
2,970,193 | |
Coterra
Energy, Inc. |
53,116 |
1,462,815 | |
EQT
Corp. |
38,178 |
1,610,348 | |
Exxon
Mobil Corp. |
61,273 |
6,570,917 | |
Marathon
Oil Corp. |
48,782 |
1,281,503 | |
Marathon
Petroleum Corp. |
14,793 |
1,967,765 | |
PBF
Energy, Inc. Class A (b) |
28,186 |
1,337,144 | |
Valero
Energy Corp. |
12,870 |
1,659,072 | |
23,546,816 | |||
FINANCIALS
- 14.5% |
|||
Banks
- 4.2% |
|||
Bank
of America Corp. |
158,332 |
5,066,624 | |
Citigroup,
Inc. |
73,266 |
3,491,858 | |
JPMorgan
Chase & Co. |
55,198 |
8,719,076 | |
Wells
Fargo & Co. |
101,946 |
4,705,827 | |
21,983,385 | |||
Capital
Markets - 0.7% |
|||
Goldman
Sachs Group, Inc. |
11,165 |
3,973,289 | |
Consumer
Finance - 2.0% |
|||
Ally
Financial, Inc. |
76,397 |
2,333,164 | |
Capital
One Financial Corp. |
25,779 |
3,016,659 | |
Discover
Financial Services |
25,109 |
2,650,255 | |
Synchrony
Financial |
73,322 |
2,532,542 | |
10,532,620 | |||
Financial
Services - 6.4% |
|||
Berkshire
Hathaway, Inc. Class B (a) |
30,797 |
10,839,312 | |
Essent
Group Ltd. |
59,067 |
2,929,723 | |
MGIC
Investment Corp. |
182,688 |
3,058,197 | |
PayPal
Holdings, Inc. (a) |
60,151 |
4,560,649 | |
The
Western Union Co. |
281,742 |
3,431,618 | |
Visa,
Inc. Class A |
37,874 |
9,003,786 | |
33,823,285 | |||
Insurance
- 1.2% |
|||
American
International Group, Inc. |
52,644 |
3,173,380 | |
Unum
Group |
64,809 |
3,150,365 | |
6,323,745 | |||
TOTAL FINANCIALS |
76,636,324 | ||
HEALTH
CARE - 12.2% |
|||
Biotechnology
- 1.8% |
|||
AbbVie,
Inc. |
45,644 |
6,827,430 | |
Moderna,
Inc. (a) |
23,414 |
2,754,891 | |
9,582,321 | |||
Health
Care Providers & Services - 4.9% |
|||
Centene
Corp. (a) |
53,929 |
3,672,026 | |
CVS
Health Corp. |
55,910 |
4,175,918 | |
Elevance
Health, Inc. |
10,067 |
4,747,899 | |
Humana,
Inc. |
8,526 |
3,894,933 | |
UnitedHealth
Group, Inc. |
18,936 |
9,588,622 | |
26,079,398 | |||
Pharmaceuticals
- 5.5% |
|||
Bristol-Myers
Squibb Co. |
73,368 |
4,562,756 | |
Johnson
& Johnson |
53,322 |
8,933,035 | |
Merck
& Co., Inc. |
64,649 |
6,894,816 | |
Pfizer,
Inc. |
147,049 |
5,302,587 | |
Viatris,
Inc. |
293,988 |
3,095,694 | |
28,788,888 | |||
TOTAL HEALTH CARE |
64,450,607 | ||
INDUSTRIALS
- 9.3% |
|||
Aerospace
& Defense - 0.7% |
|||
Lockheed
Martin Corp. |
7,950 |
3,548,642 | |
Air
Freight & Logistics - 0.7% |
|||
United
Parcel Service, Inc. Class B |
21,166 |
3,960,794 | |
Building
Products - 1.9% |
|||
Builders
FirstSource, Inc. (a) |
29,120 |
4,205,802 | |
Owens
Corning |
23,486 |
3,287,805 | |
UFP
Industries, Inc. |
24,129 |
2,479,496 | |
9,973,103 | |||
Electrical
Equipment - 0.5% |
|||
Atkore,
Inc. (a) |
16,802 |
2,665,973 | |
Industrial
Conglomerates - 0.5% |
|||
3M
Co. |
26,032 |
2,902,568 | |
Machinery
- 2.7% |
|||
Caterpillar,
Inc. |
15,906 |
4,217,794 | |
Deere
& Co. |
9,093 |
3,906,353 | |
Mueller
Industries, Inc. |
33,576 |
2,721,671 | |
PACCAR,
Inc. |
37,422 |
3,223,157 | |
14,068,975 | |||
Passenger
Airlines - 0.5% |
|||
United
Airlines Holdings, Inc. (a) |
48,023 |
2,608,129 | |
Professional
Services - 0.8% |
|||
Manpower,
Inc. |
25,888 |
2,042,045 | |
Robert
Half, Inc. |
27,260 |
2,021,329 | |
4,063,374 | |||
Trading
Companies & Distributors - 1.0% |
|||
Triton
International Ltd. |
32,395 |
2,731,222 | |
United
Rentals, Inc. |
5,904 |
2,743,471 | |
5,474,693 | |||
TOTAL INDUSTRIALS |
49,266,251 | ||
INFORMATION
TECHNOLOGY - 25.6% |
|||
Communications
Equipment - 1.3% |
|||
Cisco
Systems, Inc. |
132,346 |
6,887,286 | |
IT
Services - 2.8% |
|||
Accenture
PLC Class A |
21,458 |
6,788,238 | |
Cognizant
Technology Solutions Corp. Class A |
62,874 |
4,151,570 | |
DXC
Technology Co. (a) |
137,637 |
3,805,663 | |
14,745,471 | |||
Semiconductors
& Semiconductor Equipment - 4.9% |
|||
Broadcom,
Inc. |
11,661 |
10,479,158 | |
Micron
Technology, Inc. |
76,755 |
5,479,539 | |
Qualcomm,
Inc. |
43,410 |
5,737,500 | |
Skyworks
Solutions, Inc. |
37,178 |
4,252,048 | |
25,948,245 | |||
Software
- 6.9% |
|||
Microsoft
Corp. |
108,575 |
36,472,514 | |
Technology
Hardware, Storage & Peripherals - 9.7% |
|||
Apple,
Inc. |
214,011 |
42,042,456 | |
Hewlett
Packard Enterprise Co. |
259,118 |
4,503,471 | |
HP,
Inc. |
140,601 |
4,615,931 | |
51,161,858 | |||
TOTAL INFORMATION
TECHNOLOGY |
135,215,374 | ||
MATERIALS
- 2.7% |
|||
Chemicals
- 1.6% |
|||
CF
Industries Holdings, Inc. |
12,357 |
1,014,263 | |
Dow,
Inc. |
22,867 |
1,291,299 | |
Linde
PLC |
8,735 |
3,412,502 | |
LyondellBasell
Industries NV Class A |
11,919 |
1,178,312 | |
Olin
Corp. |
14,945 |
862,028 | |
The
Mosaic Co. |
20,822 |
848,705 | |
8,607,109 | |||
Metals
& Mining - 1.1% |
|||
Cleveland-Cliffs,
Inc. (a) |
45,379 |
800,939 | |
Freeport-McMoRan,
Inc. |
37,184 |
1,660,266 | |
Nucor
Corp. |
7,980 |
1,373,278 | |
Steel
Dynamics, Inc. |
8,779 |
935,666 | |
United
States Steel Corp. (b) |
31,735 |
809,243 | |
5,579,392 | |||
TOTAL MATERIALS |
14,186,501 | ||
REAL
ESTATE - 2.7% |
|||
Equity
Real Estate Investment Trusts (REITs) - 2.3% |
|||
Boston
Properties, Inc. |
14,454 |
963,070 | |
Host
Hotels & Resorts, Inc. |
60,596 |
1,114,966 | |
Kilroy
Realty Corp. |
24,680 |
881,076 | |
Medical
Properties Trust, Inc. (b) |
84,462 |
852,222 | |
Potlatch
Corp. |
20,937 |
1,122,851 | |
Prologis
(REIT), Inc. |
18,958 |
2,365,011 | |
Simon
Property Group, Inc. |
11,634 |
1,449,596 | |
VICI
Properties, Inc. |
40,817 |
1,284,919 | |
Vornado
Realty Trust |
39,724 |
892,996 | |
Weyerhaeuser
Co. |
37,030 |
1,261,242 | |
12,187,949 | |||
Real
Estate Management & Development - 0.4% |
|||
CBRE
Group, Inc. (a) |
15,175 |
1,264,229 | |
Jones
Lang LaSalle, Inc. (a) |
5,958 |
992,305 | |
2,256,534 | |||
TOTAL REAL ESTATE |
14,444,483 | ||
UTILITIES
- 2.5% |
|||
Electric
Utilities - 1.5% |
|||
American
Electric Power Co., Inc. |
18,614 |
1,577,350 | |
NRG
Energy, Inc. |
35,817 |
1,360,688 | |
PG&E
Corp. (a) |
93,829 |
1,652,329 | |
PPL
Corp. |
48,395 |
1,332,314 | |
Southern
Co. |
30,425 |
2,200,945 | |
8,123,626 | |||
Gas
Utilities - 0.2% |
|||
National
Fuel Gas Co. |
20,997 |
1,115,151 | |
Independent
Power and Renewable Electricity Producers - 0.2% |
|||
Clearway
Energy, Inc. Class C |
34,859 |
920,626 | |
Multi-Utilities
- 0.6% |
|||
Consolidated
Edison, Inc. |
16,542 |
1,569,174 | |
Sempra
Energy |
11,083 |
1,651,589 | |
3,220,763 | |||
TOTAL UTILITIES |
13,380,166 | ||
TOTAL
COMMON STOCKS
(Cost
$493,386,419) |
526,357,535 | ||
Money
Market Funds - 1.0% | |||
Shares |
Value
($)
| ||
Fidelity
Cash Central Fund 5.32% (c) |
1,107,609 |
1,107,830 | |
Fidelity
Securities Lending Cash Central Fund 5.32% (c)(d) |
4,344,241 |
4,344,675 | |
TOTAL
MONEY MARKET FUNDS
(Cost
$5,452,505) |
5,452,505 | ||
TOTAL
INVESTMENT IN SECURITIES - 100.7%
(Cost
$498,838,924)
|
531,810,040 |
NET
OTHER ASSETS (LIABILITIES) - (0.7)% |
(3,949,718) |
NET
ASSETS - 100.0% |
527,860,322 |
Futures
Contracts | |||||
Number
of
contracts |
Expiration
Date |
Notional
Amount
($)
|
Value
($)
|
Unrealized
Appreciation/
(Depreciation)
($)
| |
Purchased |
|||||
Equity
Index Contracts |
|||||
CME
Micro E-mini S&P 500 Index Contracts (United States) |
60 |
Sep
2023 |
1,384,350 |
70,127 |
70,127 |
The
notional amount of futures purchased as a percentage of Net Assets is
0.3% |
(a) |
Non-income
producing
|
(b) |
Security
or a portion of the security is on loan at period end.
|
(c) |
Affiliated
fund that is generally available only to investment companies and other
accounts managed by Fidelity Investments. The rate quoted is the
annualized seven-day yield of the fund at period end. A complete unaudited
listing of the fund's holdings as of its most recent quarter end is
available upon request. In addition, each Fidelity Central Fund's
financial statements, which are not covered by the Fund's Report of
Independent Registered Public Accounting Firm, are available on the SEC's
website or upon request.
|
(d) |
Investment
made with cash collateral received from securities on loan.
|
Affiliate
|
Value,
beginning
of
period ($) |
Purchases
($) |
Sales
Proceeds
($) |
Dividend
Income
($) |
Realized
Gain
(loss) ($) |
Change
in
Unrealized
appreciation
(depreciation)
($) |
Value,
end
of
period ($) |
%
ownership,
end
of
period |
Fidelity
Cash Central Fund 5.32% |
474,486 |
17,425,544 |
16,792,200 |
30,216 |
- |
- |
1,107,830 |
0.0% |
Fidelity
Securities Lending Cash Central Fund 5.32% |
834,375 |
53,345,301 |
49,835,001 |
9,446 |
- |
- |
4,344,675 |
0.0% |
Total |
1,308,861 |
70,770,845 |
66,627,201 |
39,662 |
- |
- |
5,452,505 |
|
Valuation
Inputs at Reporting Date: | ||||
Description |
Total
($) |
Level
1 ($) |
Level
2 ($) |
Level
3 ($) |
Investments
in Securities: |
||||
Equities: |
||||
Communication
Services |
46,260,332 |
46,260,332 |
- |
- |
Consumer
Discretionary |
58,680,685 |
58,680,685 |
- |
- |
Consumer
Staples |
30,289,996 |
30,289,996 |
- |
- |
Energy |
23,546,816 |
23,546,816 |
- |
- |
Financials |
76,636,324 |
76,636,324 |
- |
- |
Health
Care |
64,450,607 |
64,450,607 |
- |
- |
Industrials |
49,266,251 |
49,266,251 |
- |
- |
Information
Technology |
135,215,374 |
135,215,374 |
- |
- |
Materials |
14,186,501 |
14,186,501 |
- |
- |
Real
Estate |
14,444,483 |
14,444,483 |
- |
- |
Utilities |
13,380,166 |
13,380,166 |
- |
- |
Money Market
Funds |
5,452,505 |
5,452,505 |
- |
- |
Total Investments in Securities: |
531,810,040 |
531,810,040 |
- |
- |
Derivative
Instruments: |
||||
Assets |
||||
Futures
Contracts |
70,127 |
70,127 |
- |
- |
Total
Assets |
70,127 |
70,127 |
- |
- |
Total Derivative Instruments: |
70,127 |
70,127 |
- |
- |
Primary
Risk Exposure / Derivative Type
|
Value | |
Asset
($) |
Liability
($) | |
Equity
Risk |
||
Futures
Contracts (a) |
70,127 |
0 |
Total
Equity Risk |
70,127 |
0 |
Total
Value of Derivatives |
70,127 |
0 |
Statement
of Assets and Liabilities | ||||
July
31, 2023 | ||||
Assets
|
||||
Investment
in securities, at value (including securities loaned of $4,311,890) - See accompanying
schedule: |
||||
Unaffiliated issuers (cost
$493,386,419) |
$ |
526,357,535 |
||
Fidelity Central Funds (cost
$5,452,505) |
5,452,505 |
|||
Total
Investment in Securities (cost $498,838,924) |
$ |
531,810,040 | ||
Segregated
cash with brokers for derivative instruments |
67,200 | |||
Dividends
receivable |
440,344 | |||
Distributions
receivable from Fidelity Central Funds |
4,474 | |||
Receivable
for daily variation margin on futures contracts |
2,390 | |||
Other
receivables |
4,295 | |||
Total assets |
532,328,743 | |||
Liabilities |
||||
Accrued
management fee |
$ |
123,746 |
||
Collateral
on securities loaned |
4,344,675 |
|||
Total
Liabilities |
4,468,421 | |||
Net
Assets |
$ |
527,860,322 | ||
Net
Assets consist of: |
||||
Paid
in capital |
$ |
540,357,082 | ||
Total
accumulated earnings (loss) |
(12,496,760) | |||
Net
Assets |
$ |
527,860,322 | ||
Net
Asset Value,
offering price and redemption price per share ($527,860,322 ÷ 10,350,000
shares) |
$ |
51.00 |
Statement
of Operations | ||||
Year
ended
July
31, 2023 | ||||
Investment
Income |
||||
Dividends
|
$ |
10,192,682 | ||
Income
from Fidelity Central Funds (including $9,446 from security lending)
|
39,662 | |||
Total Income |
10,232,344 | |||
Expenses |
||||
Management
fee |
$ |
1,348,237 |
||
Independent
trustees' fees and expenses |
2,392 |
|||
Total expenses before reductions |
1,350,629 |
|||
Expense reductions |
(345) |
|||
Total expenses after reductions |
1,350,284 | |||
Net
Investment income (loss) |
8,882,060 | |||
Realized
and Unrealized Gain (Loss) |
||||
Net
realized gain (loss) on: |
||||
Investment Securities: |
||||
Unaffiliated issuers |
(8,595,970) |
|||
Redemptions in-kind |
15,085,153 |
|||
Futures contracts |
56,793 |
|||
Total
net realized gain (loss) |
6,545,976 | |||
Change
in net unrealized appreciation (depreciation) on: |
||||
Investment Securities: |
||||
Unaffiliated issuers |
38,183,141 |
|||
Futures contracts |
11,052 |
|||
Total
change in net unrealized appreciation (depreciation) |
38,194,193 | |||
Net
gain (loss) |
44,740,169 | |||
Net
increase (decrease) in net assets resulting from
operations |
$ |
53,622,229 |
Statement
of Changes in Net Assets | ||||
Year
ended
July
31, 2023 |
Year
ended
July
31, 2022 | |||
Increase
(Decrease) in Net Assets |
||||
Operations |
||||
Net
investment income (loss) |
$ |
8,882,060 |
$ |
7,743,147 |
Net
realized gain (loss) |
6,545,976
|
55,705,980
| ||
Change
in net unrealized appreciation (depreciation) |
38,194,193 |
(90,000,723)
| ||
Net
increase (decrease) in net assets resulting from
operations |
53,622,229
|
(26,551,596)
| ||
Distributions
to shareholders |
(8,641,250)
|
(7,920,650)
| ||
Share
transactions |
||||
Proceeds
from sales of shares |
80,746,346 |
409,246,223 | ||
Cost
of shares redeemed |
(97,539,980) |
(325,370,322) | ||
Net increase (decrease) in net assets resulting from share
transactions |
(16,793,634)
|
83,875,901
| ||
Total
increase (decrease) in net assets |
28,187,345
|
49,403,655
| ||
Net
Assets |
||||
Beginning
of period |
499,672,977 |
450,269,322
| ||
End
of period |
$ |
527,860,322 |
$ |
499,672,977 |
Other
Information |
||||
Shares |
||||
Sold |
1,750,000 |
8,250,000 | ||
Redeemed |
(2,200,000) |
(6,650,000) | ||
Net
increase (decrease) |
(450,000) |
1,600,000 | ||
Fidelity®
Value Factor ETF |
Years
ended July 31, |
2023
|
2022 |
2021 |
2020 |
2019 | |||||
Selected Per-Share
Data |
||||||||||
Net asset value, beginning
of period |
$ |
46.27 |
$ |
48.94 |
$ |
34.85 |
$ |
34.53 |
$ |
33.90 |
Income from Investment
Operations |
||||||||||
Net investment income (loss) A,B |
.87
|
.79
|
.64
|
.73
|
.70
| |||||
Net realized and unrealized gain (loss)
|
4.70
|
(2.65)
|
14.07
|
.28
|
.59
| |||||
Total from investment
operations |
5.57
|
(1.86)
|
14.71
|
1.01
|
1.29
| |||||
Distributions from net
investment income |
(.84)
|
(.81)
|
(.62)
|
(.69)
|
(.66)
| |||||
Total distributions |
(.84)
|
(.81)
|
(.62)
|
(.69)
|
(.66)
| |||||
Net asset value, end of
period |
$ |
51.00 |
$ |
46.27 |
$ |
48.94 |
$ |
34.85 |
$ |
34.53 |
Total Return C,D |
12.33%
|
(3.86)%
|
42.56%
|
3.12%
|
3.95%
| |||||
Ratios to Average Net Assets B,E,F |
||||||||||
Expenses before reductions
|
.29%
|
.29%
|
.29%
|
.29%
|
.29%
| |||||
Expenses net of fee
waivers, if any |
.29%
|
.29%
|
.29%
|
.29%
|
.29%
| |||||
Expenses net of all
reductions |
.29%
|
.29%
|
.29%
|
.29%
|
.29%
| |||||
Net investment income
(loss) |
1.91%
|
1.61%
|
1.50%
|
2.13%
|
2.09%
| |||||
Supplemental Data |
||||||||||
Net assets, end of period
(000 omitted) |
$ |
527,860 |
$ |
499,673 |
$ |
450,269 |
$ |
189,916 |
$ |
136,403 |
Portfolio turnover rate
G,H |
43%
|
46%
|
42%
|
45%
|
31%
|
Fidelity
Central Fund |
Investment
Manager |
Investment
Objective |
Investment
Practices |
Expense
RatioA |
Fidelity
Money Market Central Funds |
Fidelity
Management & Research Company LLC (FMR) |
Each
fund seeks to obtain a high level of current income consistent with the
preservation of capital and liquidity. |
Short-term
Investments |
Less
than .005% |
|
Tax
cost |
Gross
unrealized appreciation |
Gross
unrealized depreciation |
Net
unrealized appreciation (depreciation) |
Fidelity
Dividend ETF for Rising Rates |
$511,622,296 |
$83,253,954 |
$(40,264,354) |
$42,989,600 |
Fidelity
High Dividend ETF |
1,581,136,115 |
199,600,269 |
(75,417,576) |
124,182,693 |
Fidelity
Low Volatility Factor ETF |
508,386,061 |
69,411,769 |
(21,241,559) |
48,170,210 |
Fidelity
Momentum Factor ETF |
133,367,074 |
21,935,475 |
(1,866,724) |
20,068,751 |
Fidelity
Quality Factor ETF |
298,797,321 |
41,107,199 |
(13,186,893) |
27,920,306 |
Fidelity
Small-Mid Multifactor ETF |
120,972,842 |
15,179,121 |
(6,989,276) |
8,189,845 |
Fidelity
Stocks for Inflation ETF |
141,922,428 |
13,209,662 |
(7,868,168) |
5,341,494 |
Fidelity
U.S. Multifactor ETF |
31,689,760 |
3,850,175 |
(921,678) |
2,928,497 |
Fidelity
Value Factor ETF |
499,298,970 |
62,204,784 |
(29,693,714) |
32,511,070 |
|
Undistributed
ordinary income |
Capital
loss carryforward |
Net
unrealized appreciation (depreciation) on securities and other
investments |
Fidelity
Dividend ETF for Rising Rates |
$413,605 |
$ (59,736,344) |
$43,019,251 |
Fidelity
High Dividend ETF |
- |
(71,499,125) |
124,201,629 |
Fidelity
Low Volatility Factor ETF |
211,898 |
(39,960,681) |
48,170,210 |
Fidelity
Momentum Factor ETF |
- |
(32,540,088) |
20,068,751 |
Fidelity
Quality Factor ETF |
142,798 |
(23,721,169) |
27,920,306 |
Fidelity
Small-Mid Multifactor ETF |
- |
(8,320,224) |
8,189,822 |
Fidelity
Stocks for Inflation ETF |
- |
(20,814,268) |
5,341,494 |
Fidelity
U.S. Multifactor ETF |
5,980 |
(1,083,499) |
2,928,497 |
Fidelity
Value Factor ETF |
381,146 |
(45,388,976) |
32,511,070 |
|
Short-term |
Long-term |
Total
capital loss carryforward |
Fidelity
Dividend ETF for Rising Rates |
$ (27,351,906) |
$ (32,384,438) |
$
(59,736,344) |
Fidelity
High Dividend ETF |
(37,157,065) |
(34,342,060) |
(71,499,125) |
Fidelity
Low Volatility Factor ETF |
(25,713,255) |
(14,247,426) |
(39,960,681) |
Fidelity
Momentum Factor ETF |
(32,199,777) |
(340,311) |
(32,540,088) |
Fidelity
Quality Factor ETF |
(17,277,163) |
(6,444,006) |
(23,721,169) |
Fidelity
Small-Mid Multifactor ETF |
(6,770,927) |
(1,549,297) |
(8,320,224) |
Fidelity
Stocks for Inflation ETF |
(17,304,578) |
(3,509,690) |
(20,814,268) |
Fidelity
U.S. Multifactor ETF |
(688,778) |
(394,721) |
(1,083,499) |
Fidelity
Value Factor ETF |
(28,724,493) |
(16,664,483) |
(45,388,976) |
|
Ordinary
Losses |
Fidelity
High Dividend ETF |
$(246,109) |
Fidelity
Small-Mid Multifactor ETF |
(2,680) |
July
31, 2023 |
|
|
|
Ordinary
Income |
Total |
Fidelity
Dividend ETF for Rising Rates |
$16,860,450 |
$16,860,450 |
Fidelity
High Dividend ETF |
52,210,250 |
52,210,250 |
Fidelity
Low Volatility Factor ETF |
7,460,700 |
7,460,700 |
Fidelity
Momentum Factor ETF |
1,506,200 |
1,506,200 |
Fidelity
Quality Factor ETF |
4,025,350 |
4,025,350 |
Fidelity
Small-Mid Multifactor ETF |
1,518,700 |
1,518,700 |
Fidelity
Stocks for Inflation ETF |
4,166,950 |
4,166,950 |
Fidelity
U.S. Multifactor ETF |
365,300 |
365,300 |
Fidelity
Value Factor ETF |
8,641,250 |
8,641,250 |
July
31, 2022 |
|
|
|
Ordinary
Income |
Total |
Fidelity
Dividend ETF for Rising Rates |
$14,425,400 |
$14,425,400 |
Fidelity
High Dividend ETF |
36,931,550 |
36,931,550 |
Fidelity
Low Volatility Factor ETF |
5,937,600 |
5,937,600 |
Fidelity
Momentum Factor ETF |
999,550 |
999,550 |
Fidelity
Quality Factor ETF |
3,437,350 |
3,437,350 |
Fidelity
Small-Mid Multifactor ETF |
905,700 |
905,700 |
Fidelity
Stocks for Inflation ETF |
2,544,600 |
2,544,600 |
Fidelity
U.S. Multifactor ETF |
235,000 |
235,000 |
Fidelity
Value Factor ETF |
7,920,650 |
7,920,650 |
Equity
Risk |
Equity
risk relates to the fluctuations in the value of financial instruments as
a result of changes in market prices (other than those arising from
interest rate risk or foreign exchange risk), whether caused by factors
specific to an individual investment, its issuer, or all factors affecting
all instruments traded in a market or market segment.
|
|
Purchases
($) |
Sales
($) |
Fidelity
Dividend ETF for Rising Rates |
157,511,726 |
156,794,417 |
Fidelity
High Dividend ETF |
714,860,771 |
697,745,447 |
Fidelity
Low Volatility Factor ETF |
219,768,654 |
215,115,659 |
Fidelity
Momentum Factor ETF |
166,768,778 |
163,954,809 |
Fidelity
Quality Factor ETF |
117,016,021 |
116,592,522 |
Fidelity
Small-Mid Multifactor ETF |
60,617,478 |
58,257,340 |
Fidelity
Stocks for Inflation ETF |
216,692,483 |
217,621,838 |
Fidelity
U.S. Multifactor ETF |
9,841,972 |
9,638,776 |
Fidelity
Value Factor ETF |
196,017,174 |
196,331,203 |
|
In-Kind
Subscriptions ($) |
In-Kind
Redemptions ($) |
Fidelity
Dividend ETF for Rising Rates |
111,394,937 |
198,524,166 |
Fidelity
High Dividend ETF |
594,423,423 |
313,396,955 |
Fidelity
Low Volatility Factor ETF |
125,436,747 |
54,746,046 |
Fidelity
Momentum Factor ETF |
51,577,311 |
26,175,464 |
Fidelity
Quality Factor ETF |
67,441,105 |
34,661,785 |
Fidelity
Small-Mid Multifactor ETF |
47,921,611 |
2,909,849 |
Fidelity
Stocks for Inflation ETF |
7,832,300 |
127,119,676 |
Fidelity
U.S. Multifactor ETF |
20,645,052 |
3,611,585 |
Fidelity
Value Factor ETF |
80,271,251 |
96,954,227 |
|
Fee
Rate |
Fidelity
Dividend ETF for Rising Rates |
.29% |
Fidelity
High Dividend ETF |
.29% |
Fidelity
Low Volatility Factor ETF |
.29% |
Fidelity
Momentum Factor ETF |
.29% |
Fidelity
Quality Factor ETF |
.29% |
Fidelity
Small-Mid Multifactor ETF |
.29% |
Fidelity
Stocks for Inflation ETF |
.29% |
Fidelity
U.S. Multifactor ETF |
.29% |
Fidelity
Value Factor ETF |
.29% |
|
Borrower
or Lender |
Average
Loan Balance |
Weighted
Average Interest Rate |
Interest
Expense |
Fidelity
Dividend ETF for Rising Rates |
Borrower |
$9,374,000 |
4.82% |
$1,254 |
Fidelity
High Dividend ETF |
Borrower |
$50,779,000 |
4.82% |
$6,792 |
|
Total
Security Lending Fees Paid to NFS |
Security
Lending Income From Securities Loaned to NFS |
Value
of Securities Loaned to NFS at Period End |
Fidelity
Dividend ETF for Rising Rates |
$19,765 |
$- |
$- |
Fidelity
High Dividend ETF |
$26,955 |
$2 |
$- |
Fidelity
Low Volatility Factor ETF |
$807 |
$- |
$- |
Fidelity
Momentum Factor ETF |
$138 |
$- |
$- |
Fidelity
Quality Factor ETF |
$3,977 |
$- |
$- |
Fidelity
Small-Mid Multifactor ETF |
$1,918 |
$31 |
$- |
Fidelity
Value Factor ETF |
$958 |
$- |
$- |
|
Custodian
credits |
Fidelity
Dividend ETF for Rising Rates |
$183 |
Fidelity
High Dividend ETF |
328 |
Fidelity
Low Volatility Factor ETF |
270 |
Fidelity
Momentum Factor ETF |
609 |
Fidelity
Quality Factor ETF |
294 |
Fidelity
Small-Mid Multifactor ETF |
405 |
Fidelity
Stocks for Inflation ETF |
328 |
Fidelity
U.S. Multifactor ETF |
172 |
Fidelity
Value Factor ETF |
345 |
The
Example is based on an investment of $1,000 invested at the beginning of
the period and held for the entire period (February 1, 2023 to July 31,
2023). |
Annualized
Expense Ratio-
A |
Beginning
Account Value February 1, 2023 |
Ending
Account Value July 31, 2023 |
Expenses
Paid During Period- C
February 1, 2023 to July 31, 2023 | |||||||
Fidelity®
Dividend ETF for Rising Rates |
.29% |
|||||||||
Actual |
$
1,000 |
$
1,053.60 |
$
1.48 | |||||||
Hypothetical-B |
$
1,000 |
$
1,023.36 |
$
1.45 | |||||||
Fidelity®
High Dividend ETF |
.29% |
|||||||||
Actual |
$
1,000 |
$
1,074.10 |
$
1.49 | |||||||
Hypothetical-B |
$
1,000 |
$
1,023.36 |
$
1.45 | |||||||
Fidelity®
Low Volatility Factor ETF |
.29% |
|||||||||
Actual |
$
1,000 |
$
1,088.50 |
$
1.50 | |||||||
Hypothetical-B |
$
1,000 |
$
1,023.36 |
$
1.45 | |||||||
Fidelity®
Momentum Factor ETF |
.29% |
|||||||||
Actual |
$
1,000 |
$
1,117.80 |
$
1.52 | |||||||
Hypothetical-B |
$
1,000 |
$
1,023.36 |
$
1.45 | |||||||
Fidelity®
Quality Factor ETF |
.29% |
|||||||||
Actual |
$
1,000 |
$
1,119.20 |
$
1.52 | |||||||
Hypothetical-B |
$
1,000 |
$
1,023.36 |
$
1.45 | |||||||
Fidelity®
Small-Mid Multifactor ETF |
.29% |
|||||||||
Actual |
$
1,000 |
$
1,038.70 |
$
1.47 | |||||||
Hypothetical-B |
$
1,000 |
$
1,023.36 |
$
1.45 | |||||||
Fidelity®
Stocks for Inflation ETF |
.29% |
|||||||||
Actual |
$
1,000 |
$
1,055.30 |
$
1.48 | |||||||
Hypothetical-B |
$
1,000 |
$
1,023.36 |
$
1.45 | |||||||
Fidelity®
U.S. Multifactor ETF |
.29% |
|||||||||
Actual |
$
1,000 |
$
1,084.00 |
$
1.50 | |||||||
Hypothetical-B |
$
1,000 |
$
1,023.36 |
$
1.45 | |||||||
Fidelity®
Value Factor ETF |
.29% |
|||||||||
Actual |
$
1,000 |
$
1,102.00 |
$
1.51 | |||||||
Hypothetical-B |
$
1,000 |
$
1,023.36 |
$
1.45 | |||||||
Fidelity®
Dividend ETF for Rising Rates |
|
September
2022 |
76% |
December
2022 |
80% |
March
2023 |
80% |
June
2023 |
80% |
Fidelity®
High Dividend ETF |
|
September
2022 |
66% |
December
2022 |
66% |
March
2023 |
63% |
June
2023 |
63% |
Fidelity®
Low Volatility Factor ETF |
|
September
2022 |
100% |
December
2022 |
100% |
March
2023 |
100% |
June
2023 |
100% |
Fidelity®
Momentum Factor ETF |
|
September
2022 |
100% |
December
2022 |
100% |
March
2023 |
100% |
June
2023 |
100% |
Fidelity®
Quality Factor ETF |
|
September
2022 |
99% |
December
2022 |
99% |
March
2023 |
100% |
June
2023 |
100% |
Fidelity®
Small-Mid Multifactor ETF |
|
September
2022 |
85% |
December
2022 |
85% |
March
2023 |
87% |
June
2023 |
87% |
Fidelity®
Stocks for Inflation ETF |
|
September
2022 |
89% |
December
2022 |
100% |
March
2023 |
99% |
June
2023 |
99% |
Fidelity®
U.S. Multifactor ETF |
|
September
2022 |
99% |
December
2022 |
99% |
March
2023 |
100% |
June
2023 |
100% |
Fidelity®
Value Factor ETF |
|
September
2022 |
100% |
December
2022 |
100% |
March
2023 |
100% |
June
2023 |
100% |
Fidelity®
Dividend ETF for Rising Rates |
|
September
2022 |
91.84% |
December
2022 |
91.40% |
March
2023 |
98.21% |
June
2023 |
98.21% |
Fidelity®
High Dividend ETF |
|
September
2022 |
84.74% |
December
2022 |
84.74% |
March
2023 |
82.78% |
June
2023 |
82.78% |
Fidelity®
Low Volatility Factor ETF |
|
September
2022 |
100% |
December
2022 |
100% |
March
2023 |
100% |
June
2023 |
100% |
Fidelity®
Momentum Factor ETF |
|
September
2022 |
100% |
December
2022 |
100% |
March
2023 |
100% |
June
2023 |
100% |
Fidelity®
Quality Factor ETF |
|
September
2022 |
100% |
December
2022 |
100% |
March
2023 |
100% |
June
2023 |
100% |
Fidelity®
Small-Mid Multifactor ETF |
|
September
2022 |
87.75% |
December
2022 |
87.75% |
March
2023 |
92.30% |
June
2023 |
92.30% |
Fidelity®
Stocks for Inflation ETF |
|
September
2022 |
100% |
December
2022 |
100% |
March
2023 |
100% |
June
2023 |
100% |
Fidelity®
U.S. Multifactor ETF |
|
September
2022 |
100% |
December
2022 |
100% |
March
2023 |
100% |
June
2023 |
100% |
Fidelity®
Value Factor ETF |
|
September
2022 |
100% |
December
2022 |
100% |
March
2023 |
100% |
June
2023 |
100% |
Fidelity®
Dividend ETF for Rising Rates |
|
September
2022 |
5.98% |
December
2022 |
6.30% |
March
2023 |
1.79% |
June
2023 |
1.79% |
Fidelity®
High Dividend ETF |
|
September
2022 |
15.26% |
December
2022 |
15.26% |
March
2023 |
14.17% |
June
2023 |
14.17% |
Fidelity®
Small-Mid Multifactor ETF |
|
September
2022 |
12.25% |
December
2022 |
12.25% |
March
2023 |
7.70% |
June
2023 |
7.70% |
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