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Fidelity® Corporate Bond ETF

Investment Summary February 28, 2023 (Unaudited)

Quality Diversification (% of Fund's net assets)

We have used ratings from Moody's Investors Service, Inc. Where Moody's® ratings are not available, we have used S&P® ratings. All ratings are as of the date indicated and do not reflect subsequent changes.

Asset Allocation (% of Fund's net assets)

Foreign investments - 21.1%

Geographic Diversification (% of Fund's net assets)

* Includes Short-Term investments and Net Other Assets (Liabilities).

Percentages are based on country or territory of incorporation and are adjusted for the effect of derivatives, if applicable.

Fidelity® Corporate Bond ETF

Schedule of Investments February 28, 2023 (Unaudited)

Showing Percentage of Net Assets

Nonconvertible Bonds - 88.1%
	Principal Amount (a)	Value ($)
COMMUNICATION SERVICES - 6.0%
Diversified Telecommunication Services - 1.7%
AT&T, Inc.:
3.55% 9/15/55	322,000	218,124
3.65% 9/15/59	295,000	199,787
4.3% 2/15/30	412,000	386,487
4.5% 5/15/35	293,000	263,543
Level 3 Financing, Inc. 3.4% 3/1/27 (b)	361,000	303,000
Verizon Communications, Inc.:
2.1% 3/22/28	218,000	188,156
2.55% 3/21/31	312,000	255,212
3.7% 3/22/61	415,000	291,740
4.4% 11/1/34	412,000	374,524
		2,480,573
Entertainment - 0.1%
The Walt Disney Co. 4.75% 11/15/46	204,000	187,900
Media - 3.0%
CCO Holdings LLC/CCO Holdings Capital Corp. 4.5% 8/15/30 (b)	443,000	364,376
Charter Communications Operating LLC/Charter Communications Operating Capital Corp.:
3.7% 4/1/51	208,000	127,186
3.85% 4/1/61	300,000	176,684
4.2% 3/15/28	178,000	163,587
5.375% 5/1/47	338,000	269,269
Comcast Corp. 2.937% 11/1/56	335,000	210,120
Discovery Communications LLC 4.125% 5/15/29	295,000	264,276
Fox Corp.:
3.5% 4/8/30	218,000	191,694
5.476% 1/25/39	78,000	71,680
Magallanes, Inc.:
3.755% 3/15/27 (b)	222,000	203,648
4.054% 3/15/29 (b)	129,000	115,359
4.279% 3/15/32 (b)	397,000	342,735
5.05% 3/15/42 (b)	171,000	138,533
5.141% 3/15/52 (b)	416,000	326,104
5.391% 3/15/62 (b)	385,000	300,304
Time Warner Cable LLC:
4.5% 9/15/42	273,000	203,724
5.875% 11/15/40	354,000	312,619
7.3% 7/1/38	538,000	539,208
		4,321,106
Wireless Telecommunication Services - 1.2%
Rogers Communications, Inc.:
3.8% 3/15/32 (b)	389,000	339,783
4.3% 2/15/48	100,000	76,797
4.55% 3/15/52 (b)	304,000	242,453
T-Mobile U.S.A., Inc.:
2.4% 3/15/29	242,000	204,532
2.7% 3/15/32	380,000	308,020
3.75% 4/15/27	412,000	387,336
Vodafone Group PLC 3.25% 6/4/81 (c)	250,000	218,100
		1,777,021
TOTAL COMMUNICATION SERVICES		8,766,600
CONSUMER DISCRETIONARY - 3.5%
Automobiles - 1.7%
Ford Motor Co. 3.25% 2/12/32	850,000	642,420
General Motors Co.:
5.4% 4/1/48	500,000	416,988
5.95% 4/1/49	386,000	346,325
General Motors Financial Co., Inc. 3.1% 1/12/32	280,000	222,850
Volkswagen Group of America Finance LLC:
1.625% 11/24/27 (b)	390,000	329,962
4.75% 11/13/28 (b)	550,000	534,232
		2,492,777
Distributors - 0.3%
Genuine Parts Co. 2.75% 2/1/32	450,000	363,782
Household Durables - 0.2%
Toll Brothers Finance Corp. 4.375% 4/15/23	269,000	268,532
Specialty Retail - 1.1%
Advance Auto Parts, Inc. 1.75% 10/1/27	338,000	287,023
AutoNation, Inc.:
3.85% 3/1/32	550,000	461,197
4.75% 6/1/30	19,000	17,650
Lowe's Companies, Inc.:
3.65% 4/5/29	291,000	265,843
5.625% 4/15/53	250,000	239,291
O'Reilly Automotive, Inc. 4.35% 6/1/28	416,000	400,752
		1,671,756
Textiles, Apparel & Luxury Goods - 0.2%
Tapestry, Inc. 3.05% 3/15/32	434,000	344,844
TOTAL CONSUMER DISCRETIONARY		5,141,691
CONSUMER STAPLES - 6.8%
Beverages - 1.3%
Anheuser-Busch Companies LLC / Anheuser-Busch InBev Worldwide, Inc.:
4.7% 2/1/36	198,000	185,849
4.9% 2/1/46	368,000	337,557
Anheuser-Busch InBev Finance, Inc.:
4.7% 2/1/36	204,000	191,480
4.9% 2/1/46	222,000	203,635
Anheuser-Busch InBev Worldwide, Inc. 4.5% 6/1/50	436,000	384,037
Constellation Brands, Inc. 2.875% 5/1/30	363,000	308,288
Molson Coors Beverage Co. 3% 7/15/26	321,000	296,940
		1,907,786
Food & Staples Retailing - 0.1%
Alimentation Couche-Tard, Inc. 2.95% 1/25/30 (b)	269,000	228,557
Food Products - 2.1%
JBS U.S.A. Lux SA / JBS Food Co.:
2.5% 1/15/27 (b)	1,000,000	875,060
3% 5/15/32 (b)	405,000	308,750
4.375% 2/2/52 (b)	405,000	287,601
5.5% 1/15/30 (b)	530,000	498,860
McCormick & Co., Inc. 1.85% 2/15/31	261,000	202,352
Smithfield Foods, Inc. 3% 10/15/30 (b)	135,000	105,108
Viterra Finance BV 4.9% 4/21/27 (b)	780,000	738,921
		3,016,652
Tobacco - 3.3%
Altria Group, Inc.:
2.45% 2/4/32	440,000	332,130
4.25% 8/9/42	235,000	176,699
4.8% 2/14/29	253,000	242,689
BAT Capital Corp.:
2.259% 3/25/28	404,000	338,470
2.726% 3/25/31	400,000	312,200
3.557% 8/15/27	726,000	661,145
3.984% 9/25/50	440,000	289,082
Imperial Tobacco Finance PLC:
3.5% 7/26/26 (b)	670,000	616,938
4.25% 7/21/25 (b)	250,000	240,341
Philip Morris International, Inc.:
5.625% 11/17/29	380,000	385,044
5.75% 11/17/32	321,000	324,737
Reynolds American, Inc. 4.45% 6/12/25	927,000	902,043
		4,821,518
TOTAL CONSUMER STAPLES		9,974,513
ENERGY - 8.1%
Oil, Gas & Consumable Fuels - 8.1%
Canadian Natural Resources Ltd.:
4.95% 6/1/47	134,000	116,462
6.25% 3/15/38	350,000	352,746
Cenovus Energy, Inc.:
2.65% 1/15/32	99,000	78,344
3.75% 2/15/52	290,000	205,346
5.4% 6/15/47	288,000	259,262
6.75% 11/15/39	32,000	33,444
Cheniere Corpus Christi Holdings LLC 5.875% 3/31/25	565,000	566,889
DCP Midstream Operating LP:
3.875% 3/15/23	210,000	209,849
5.125% 5/15/29	515,000	495,724
5.85% 5/21/43 (b)(c)	418,000	413,653
Eastern Gas Transmission & Storage, Inc. 3.9% 11/15/49	356,000	261,667
Enbridge, Inc. 4.25% 12/1/26	214,000	205,224
Energy Transfer LP:
4% 10/1/27	252,000	234,924
4.25% 4/1/24	228,000	224,430
5% 5/15/50	450,000	368,748
5.4% 10/1/47	316,000	271,677
5.8% 6/15/38	123,000	115,243
6% 6/15/48	257,000	236,366
Enterprise Products Operating LP 4.9% 5/15/46	183,000	160,395
Equinor ASA 2.375% 5/22/30	422,000	359,936
Hess Corp.:
4.3% 4/1/27	354,000	338,855
5.6% 2/15/41	410,000	382,955
5.8% 4/1/47	240,000	226,875
6% 1/15/40	405,000	397,711
MPLX LP:
1.75% 3/1/26	351,000	313,887
2.65% 8/15/30	642,000	526,773
5.65% 3/1/53	240,000	220,989
Occidental Petroleum Corp.:
2.9% 8/15/24	86,000	82,345
3.45% 7/15/24	481,000	461,760
Ovintiv, Inc. 7.2% 11/1/31	270,000	283,604
Petroleos Mexicanos:
5.35% 2/12/28	394,000	332,772
6.49% 1/23/27	85,000	77,146
6.5% 3/13/27	280,000	253,512
Plains All American Pipeline LP/PAA Finance Corp. 4.65% 10/15/25	416,000	405,860
Spectra Energy Partners LP 3.375% 10/15/26	338,000	315,285
Suncor Energy, Inc.:
6.5% 6/15/38	255,000	261,915
6.85% 6/1/39	166,000	177,117
The Williams Companies, Inc.:
4.65% 8/15/32	163,000	151,873
5.3% 8/15/52	37,000	33,429
5.75% 6/24/44	360,000	343,205
Transcontinental Gas Pipe Line Co. LLC 3.25% 5/15/30	26,000	22,636
Western Gas Partners LP 4.3% 2/1/30	1,174,000	1,040,097
		11,820,930
FINANCIALS - 33.6%
Banks - 17.6%
AIB Group PLC 4.263% 4/10/25 (b)(c)	250,000	244,226
Banco Santander SA 2.749% 12/3/30	720,000	562,527
Bank of America Corp.:
2.676% 6/19/41 (c)	619,000	424,012
2.884% 10/22/30 (c)	487,000	411,755
3.194% 7/23/30 (c)	495,000	430,099
3.458% 3/15/25 (c)	337,000	329,371
3.705% 4/24/28 (c)	362,000	336,745
4.25% 10/22/26	368,000	353,431
4.45% 3/3/26	350,000	340,283
4.571% 4/27/33 (c)	800,000	743,645
5.015% 7/22/33 (c)	600,000	577,262
Bank of Ireland Group PLC 4.5% 11/25/23 (b)	600,000	592,144
Bank of Nova Scotia 4.5% 12/16/25	336,000	325,653
Barclays PLC:
1.007% 12/10/24 (c)	333,000	320,642
2.645% 6/24/31 (c)	550,000	437,975
2.894% 11/24/32 (c)	920,000	714,316
4.836% 5/9/28	415,000	388,845
5.088% 6/20/30 (c)	200,000	185,275
BNP Paribas SA:
U.S. Secured Overnight Fin. Rate (SOFR) Index + 1.000% 1.323% 1/13/27 (b)(c)(d)	500,000	442,702
1.904% 9/30/28 (b)(c)	670,000	564,599
2.824% 1/26/41 (b)	660,000	434,829
4.625% 3/13/27 (b)	475,000	455,175
BPCE SA:
2.277% 1/20/32 (b)(c)	590,000	451,768
4.875% 4/1/26 (b)	350,000	338,571
Citigroup, Inc.:
2.572% 6/3/31 (c)	296,000	242,816
2.666% 1/29/31 (c)	307,000	255,440
4.3% 11/20/26	381,000	365,341
4.91% 5/24/33 (c)	295,000	279,567
Citizens Financial Group, Inc. 2.638% 9/30/32	397,000	302,424
Commonwealth Bank of Australia 3.784% 3/14/32 (b)	610,000	512,133
Credit Agricole SA 2.811% 1/11/41 (b)	488,000	320,861
Fifth Third Bancorp 8.25% 3/1/38	395,000	492,676
HSBC Holdings PLC:
1.589% 5/24/27 (c)	790,000	691,106
2.357% 8/18/31 (c)	570,000	450,090
2.848% 6/4/31 (c)	400,000	329,060
4.041% 3/13/28 (c)	300,000	280,037
7.39% 11/3/28 (c)	300,000	316,871
Huntington Bancshares, Inc. 2.487% 8/15/36 (c)	748,000	550,649
Intesa Sanpaolo SpA 5.71% 1/15/26 (b)	200,000	191,442
JPMorgan Chase & Co.:
2.522% 4/22/31 (c)	456,000	377,042
2.956% 5/13/31 (c)	467,000	392,189
4.912% 7/25/33 (c)	850,000	813,884
4.95% 6/1/45	204,000	187,494
5.717% 9/14/33 (c)	720,000	715,457
Lloyds Banking Group PLC:
1.627% 5/11/27 (c)	600,000	524,033
7.953% 11/15/33 (c)	350,000	383,234
NatWest Group PLC 2.359% 5/22/24 (c)	215,000	213,121
Rabobank Nederland 3.75% 7/21/26	700,000	656,450
Santander Holdings U.S.A., Inc. 2.49% 1/6/28 (c)	605,000	526,944
Societe Generale:
1.488% 12/14/26 (b)(c)	325,000	287,937
3% 1/22/30 (b)	555,000	459,483
3.625% 3/1/41 (b)	750,000	504,969
6.221% 6/15/33 (b)(c)	400,000	379,894
Standard Chartered PLC 3.785% 5/21/25 (b)(c)	500,000	487,480
SVB Financial Group 3.125% 6/5/30	197,000	166,208
Synchrony Bank 5.625% 8/23/27	250,000	244,499
UniCredit SpA 1.982% 6/3/27 (b)(c)	625,000	545,062
Wells Fargo & Co.:
2.164% 2/11/26 (c)	366,000	342,054
4.478% 4/4/31 (c)	432,000	406,307
4.65% 11/4/44	384,000	328,278
Westpac Banking Corp. U.S. TREASURY 1 YEAR INDEX + 2.680% 5.405% 8/10/33 (c)(d)	480,000	459,618
Zions Bancorp NA 3.25% 10/29/29	420,000	349,147
		25,737,147
Capital Markets - 5.1%
Ares Capital Corp.:
2.15% 7/15/26	335,000	288,618
3.875% 1/15/26	352,000	326,566
4.2% 6/10/24	406,000	397,284
4.25% 3/1/25	378,000	362,773
Blackstone Holdings Finance Co. LLC 3.5% 9/10/49 (b)	268,000	183,050
Credit Suisse Group AG:
2.593% 9/11/25 (b)(c)	351,000	318,022
3.091% 5/14/32 (b)(c)	725,000	510,136
3.869% 1/12/29 (b)(c)	250,000	205,045
4.194% 4/1/31 (b)(c)	700,000	555,153
4.55% 4/17/26	250,000	223,346
9.016% 11/15/33 (b)(c)	300,000	315,053
Deutsche Bank AG 4.5% 4/1/25	320,000	308,554
Deutsche Bank AG New York Branch:
2.129% 11/24/26 (c)	731,000	655,152
3.035% 5/28/32 (c)	566,000	445,907
Goldman Sachs Group, Inc. 4.223% 5/1/29 (c)	336,000	314,555
Morgan Stanley:
1.794% 2/13/32 (c)	414,000	315,078
2.239% 7/21/32 (c)	330,000	256,691
2.699% 1/22/31 (c)	266,000	222,218
4.35% 9/8/26	535,000	514,404
4.431% 1/23/30 (c)	400,000	376,541
UBS Group AG 3.126% 8/13/30 (b)(c)	500,000	427,859
		7,522,005
Consumer Finance - 3.8%
AerCap Ireland Capital Ltd./AerCap Global Aviation Trust:
1.65% 10/29/24	350,000	324,687
2.45% 10/29/26	150,000	132,236
3% 10/29/28	151,000	128,669
3.3% 1/30/32	161,000	128,838
3.4% 10/29/33	333,000	259,078
3.85% 10/29/41	470,000	344,096
Ally Financial, Inc.:
2.2% 11/2/28	254,000	206,929
5.75% 11/20/25	141,000	138,023
5.8% 5/1/25	309,000	309,204
7.1% 11/15/27	410,000	425,657
Capital One Financial Corp.:
2.359% 7/29/32 (c)	602,000	442,928
5.247% 7/26/30 (c)	321,000	307,795
5.468% 2/1/29 (c)	114,000	111,921
5.817% 2/1/34 (c)	198,000	192,264
Discover Financial Services:
4.5% 1/30/26	488,000	472,409
6.7% 11/29/32	35,000	36,163
Ford Motor Credit Co. LLC:
3.375% 11/13/25	615,000	566,458
4.063% 11/1/24	350,000	336,508
4.95% 5/28/27	500,000	465,845
Synchrony Financial 4.375% 3/19/24	319,000	314,573
		5,644,281
Diversified Financial Services - 3.7%
Athene Global Funding:
1.45% 1/8/26 (b)	290,000	254,872
1.985% 8/19/28 (b)	380,000	310,480
2.5% 3/24/28 (b)	290,000	246,443
Blackstone Private Credit Fund:
4.7% 3/24/25	556,000	536,254
7.05% 9/29/25 (b)	187,000	187,669
Brixmor Operating Partnership LP:
2.25% 4/1/28	302,000	253,788
4.05% 7/1/30	629,000	556,097
4.125% 5/15/29	365,000	328,786
Corebridge Financial, Inc.:
3.65% 4/5/27 (b)	95,000	88,639
3.85% 4/5/29 (b)	93,000	84,007
3.9% 4/5/32 (b)	231,000	202,128
4.35% 4/5/42 (b)	25,000	20,606
4.4% 4/5/52 (b)	75,000	59,787
Equitable Holdings, Inc.:
4.35% 4/20/28	227,000	215,616
5% 4/20/48	426,000	376,475
Jackson Financial, Inc.:
3.125% 11/23/31	400,000	319,767
4% 11/23/51	485,000	324,530
5.17% 6/8/27	84,000	83,169
5.67% 6/8/32	106,000	103,562
Rexford Industrial Realty LP 2.15% 9/1/31	394,000	304,816
Voya Financial, Inc.:
4.7% 1/23/48 (c)	423,000	358,864
4.8% 6/15/46	204,000	169,557
5.7% 7/15/43	56,000	53,060
		5,438,972
Insurance - 3.4%
American International Group, Inc. 5.75% 4/1/48 (c)	518,000	499,870
AmFam Holdings, Inc. 2.805% 3/11/31 (b)	310,000	237,895
Assurant, Inc. 2.65% 1/15/32	420,000	314,597
Athene Holding Ltd.:
3.45% 5/15/52	250,000	158,983
6.65% 2/1/33	300,000	308,187
Empower Finance 2020 LP 1.776% 3/17/31 (b)	353,000	274,455
Fairfax Financial Holdings Ltd.:
4.85% 4/17/28	285,000	273,189
5.625% 8/16/32 (b)	740,000	703,460
Five Corners Funding Trust II 2.85% 5/15/30 (b)	630,000	532,096
Intact Financial Corp. 5.459% 9/22/32 (b)	447,000	439,163
Liberty Mutual Group, Inc. 5.5% 6/15/52 (b)	380,000	356,077
Massachusetts Mutual Life Insurance Co. 3.729% 10/15/70 (b)	273,000	187,478
Pacific LifeCorp 5.125% 1/30/43 (b)	309,000	287,592
Unum Group 4.125% 6/15/51	510,000	365,475
		4,938,517
TOTAL FINANCIALS		49,280,922
HEALTH CARE - 6.2%
Biotechnology - 0.7%
AbbVie, Inc. 4.55% 3/15/35	381,000	354,332
Amgen, Inc.:
3.375% 2/21/50	282,000	197,315
5.25% 3/2/30 (e)	78,000	77,620
5.25% 3/2/33 (e)	88,000	87,387
5.65% 3/2/53 (e)	41,000	40,663
5.75% 3/2/63 (e)	75,000	73,965
Regeneron Pharmaceuticals, Inc. 1.75% 9/15/30	278,000	216,438
		1,047,720
Health Care Providers & Services - 3.1%
Centene Corp.:
2.625% 8/1/31	1,300,000	1,012,977
3% 10/15/30	294,000	239,712
4.25% 12/15/27	160,000	147,848
4.625% 12/15/29	420,000	384,087
Cigna Group:
3.4% 3/15/50	337,000	236,361
4.8% 8/15/38	216,000	198,950
4.9% 12/15/48	40,000	35,976
CVS Health Corp.:
4.78% 3/25/38	246,000	223,476
4.875% 7/20/35	134,000	125,907
HCA Holdings, Inc.:
3.375% 3/15/29 (b)	209,000	183,130
3.625% 3/15/32 (b)	200,000	169,068
4.625% 3/15/52 (b)	370,000	291,093
5.25% 6/15/49	382,000	329,476
Sabra Health Care LP 3.2% 12/1/31	565,000	419,781
Universal Health Services, Inc.:
2.65% 10/15/30	388,000	315,976
2.65% 1/15/32	275,000	213,518
		4,527,336
Pharmaceuticals - 2.4%
AstraZeneca PLC 6.45% 9/15/37	276,000	311,964
Bayer U.S. Finance II LLC:
4.25% 12/15/25 (b)	447,000	432,336
4.375% 12/15/28 (b)	410,000	385,446
Elanco Animal Health, Inc.:
5.772% 8/28/23	608,000	605,774
6.4% 8/28/28 (c)	452,000	431,601
Mylan NV 4.55% 4/15/28	350,000	326,293
Utah Acquisition Sub, Inc. 3.95% 6/15/26	517,000	483,490
Viatris, Inc.:
2.7% 6/22/30	535,000	424,133
4% 6/22/50	280,000	180,605
		3,581,642
TOTAL HEALTH CARE		9,156,698
INDUSTRIALS - 4.0%
Aerospace & Defense - 1.2%
BAE Systems PLC 1.9% 2/15/31 (b)	525,000	413,448
The Boeing Co.:
5.04% 5/1/27	558,000	549,605
5.15% 5/1/30	888,000	859,288
		1,822,341
Air Freight & Logistics - 0.2%
FedEx Corp. 4.05% 2/15/48	348,000	267,090
Airlines - 0.7%
American Airlines 2017-2 Class B Pass Through Trust equipment trust certificate 3.7% 4/15/27	427,297	399,685
American Airlines 2019-1 Class B Pass Through Trust equipment trust certificate 3.85% 8/15/29	167,926	150,874
American Airlines, Inc. 3.75% 4/15/27	136,730	127,996
British Airways 2021-1 Class A Pass Through Trust equipment trust certificate 2.9% 9/15/36 (b)	192,868	158,750
United Airlines 2019-2 Class B Pass Through Trust equipment trust certificate 3.5% 11/1/29	162,347	145,427
United Airlines, Inc. equipment trust certificate 4.6% 9/1/27	85,423	81,645
		1,064,377
Machinery - 0.7%
Ingersoll-Rand Luxembourg Finance SA 3.8% 3/21/29	250,000	230,208
Westinghouse Air Brake Tech Co.:
3.2% 6/15/25	438,000	412,315
3.45% 11/15/26	456,000	421,270
		1,063,793
Road & Rail - 0.3%
CSX Corp. 4.75% 11/15/48	402,000	362,940
Trading Companies & Distributors - 0.5%
Air Lease Corp.:
2.875% 1/15/32	440,000	345,423
3.25% 3/1/25	331,000	314,106
		659,529
Transportation Infrastructure - 0.4%
Avolon Holdings Funding Ltd.:
2.528% 11/18/27 (b)	219,000	182,477
4.25% 4/15/26 (b)	175,000	162,399
5.5% 1/15/26 (b)	312,000	301,918
		646,794
TOTAL INDUSTRIALS		5,886,864
INFORMATION TECHNOLOGY - 4.0%
Electronic Equipment & Components - 1.1%
Dell International LLC/EMC Corp.:
3.45% 12/15/51 (b)	385,000	235,305
4.9% 10/1/26	396,000	387,281
6.02% 6/15/26	440,000	445,416
Vontier Corp. 2.95% 4/1/31	632,000	481,489
		1,549,491
IT Services - 0.3%
CDW LLC/CDW Finance Corp. 2.67% 12/1/26	544,000	483,125
Semiconductors & Semiconductor Equipment - 1.4%
Broadcom, Inc.:
1.95% 2/15/28 (b)	302,000	255,945
2.45% 2/15/31 (b)	175,000	138,668
2.6% 2/15/33 (b)	542,000	409,634
3.5% 2/15/41 (b)	363,000	259,768
Micron Technology, Inc.:
2.703% 4/15/32	395,000	299,706
4.185% 2/15/27	401,000	379,581
NXP BV/NXP Funding LLC/NXP U.S.A., Inc. 2.7% 5/1/25	337,000	315,685
		2,058,987
Software - 1.2%
Oracle Corp.:
2.3% 3/25/28	408,000	354,070
2.5% 4/1/25	332,000	313,019
2.875% 3/25/31	190,000	157,523
3.95% 3/25/51	430,000	308,862
4.3% 7/8/34	347,000	304,684
Roper Technologies, Inc. 2.95% 9/15/29	389,000	338,188
		1,776,346
TOTAL INFORMATION TECHNOLOGY		5,867,949
MATERIALS - 1.2%
Chemicals - 1.0%
Celanese U.S. Holdings LLC 6.165% 7/15/27	580,000	575,701
International Flavors & Fragrances, Inc.:
1.832% 10/15/27 (b)	352,000	294,700
3.468% 12/1/50 (b)	382,000	251,240
LYB International Finance III LLC 2.25% 10/1/30	368,000	294,171
		1,415,812
Containers & Packaging - 0.2%
Avery Dennison Corp. 4.875% 12/6/28	325,000	317,852
TOTAL MATERIALS		1,733,664
REAL ESTATE - 6.1%
Equity Real Estate Investment Trusts (REITs) - 5.6%
Agree LP 4.8% 10/1/32	441,000	412,468
Alexandria Real Estate Equities, Inc.:
1.875% 2/1/33	381,000	282,400
4.7% 7/1/30	75,000	72,160
American Homes 4 Rent LP:
3.375% 7/15/51	45,000	29,250
4.3% 4/15/52	71,000	54,413
Camden Property Trust:
2.8% 5/15/30	65,000	55,827
3.15% 7/1/29	447,000	396,748
Corporate Office Properties LP 2% 1/15/29	278,000	214,000
Crown Castle International Corp. 2.25% 1/15/31	323,000	258,418
Hudson Pacific Properties LP:
3.95% 11/1/27	422,000	364,725
5.95% 2/15/28	355,000	330,013
Invitation Homes Operating Partnership LP:
2% 8/15/31	395,000	296,289
4.15% 4/15/32	153,000	134,589
Kite Realty Group Trust:
4% 3/15/25	15,000	14,213
4.75% 9/15/30	317,000	283,734
LXP Industrial Trust (REIT) 4.4% 6/15/24	242,000	234,439
MPT Operating Partnership LP/MPT Finance Corp. 3.5% 3/15/31	606,000	415,389
Omega Healthcare Investors, Inc.:
3.25% 4/15/33	394,000	281,633
3.625% 10/1/29	427,000	354,102
4.5% 1/15/25	204,000	198,967
Piedmont Operating Partnership LP 2.75% 4/1/32	53,000	37,361
Realty Income Corp. 2.2% 6/15/28	27,000	23,308
Spirit Realty LP 2.1% 3/15/28	398,000	329,716
Store Capital Corp.:
2.7% 12/1/31	450,000	327,223
2.75% 11/18/30	67,000	50,603
Sun Communities Operating LP:
2.3% 11/1/28	60,000	50,727
2.7% 7/15/31	445,000	355,013
4.2% 4/15/32	270,000	239,515
5.7% 1/15/33	450,000	442,710
Ventas Realty LP 3% 1/15/30	337,000	286,447
VICI Properties LP:
4.75% 2/15/28	348,000	328,279
4.95% 2/15/30	430,000	401,451
5.125% 5/15/32	31,000	28,763
Vornado Realty LP:
2.15% 6/1/26	73,000	62,546
3.4% 6/1/31	265,000	201,532
WP Carey, Inc. 2.4% 2/1/31	397,000	320,056
		8,169,027
Real Estate Management & Development - 0.5%
Brandywine Operating Partnership LP 7.55% 3/15/28	153,000	150,006
Tanger Properties LP:
2.75% 9/1/31	313,000	232,165
3.125% 9/1/26	410,000	372,130
		754,301
TOTAL REAL ESTATE		8,923,328
UTILITIES - 8.6%
Electric Utilities - 3.5%
Cleco Corporate Holdings LLC:
3.743% 5/1/26	1,181,000	1,108,251
4.973% 5/1/46	356,000	303,594
Cleveland Electric Illuminating Co. 3.5% 4/1/28 (b)	224,000	204,885
Duke Energy Corp.:
4.5% 8/15/32	310,000	286,897
5% 8/15/52	550,000	488,831
Duke Energy Industries, Inc. 4.9% 7/15/43	88,000	81,347
Duquesne Light Holdings, Inc.:
2.532% 10/1/30 (b)	86,000	68,368
2.775% 1/7/32 (b)	177,000	139,210
3.616% 8/1/27 (b)	250,000	224,087
Exelon Corp.:
3.35% 3/15/32	258,000	220,291
4.05% 4/15/30	240,000	220,114
4.1% 3/15/52	163,000	129,489
FirstEnergy Corp.:
2.25% 9/1/30	639,000	509,603
4.15% 7/15/27	416,000	388,045
7.375% 11/15/31	700,000	785,050
		5,158,062
Gas Utilities - 0.5%
ONE Gas, Inc. 2% 5/15/30	254,000	207,362
Southern Co. Gas Capital Corp.:
3.15% 9/30/51	416,000	279,053
4.4% 5/30/47	204,000	165,221
		651,636
Independent Power and Renewable Electricity Producers - 2.4%
Atlantica Sustainable Infrastructure PLC 4.125% 6/15/28 (b)	550,000	485,421
Emera U.S. Finance LP:
3.55% 6/15/26	1,091,000	1,024,165
4.75% 6/15/46	426,000	334,727
The AES Corp.:
1.375% 1/15/26	392,000	346,906
2.45% 1/15/31	402,000	319,323
3.3% 7/15/25 (b)	764,000	716,971
3.95% 7/15/30 (b)	382,000	334,441
		3,561,954
Multi-Utilities - 2.2%
Dominion Energy, Inc. 4.25% 6/1/28	343,000	326,723
NiSource, Inc.:
3.49% 5/15/27	594,000	554,897
3.6% 5/1/30	100,000	89,267
3.95% 3/30/48	396,000	308,610
4.8% 2/15/44	268,000	237,600
Puget Energy, Inc.:
3.65% 5/15/25	848,000	802,291
4.1% 6/15/30	714,000	641,067
Sempra Energy 3.8% 2/1/38	342,000	280,146
		3,240,601
TOTAL UTILITIES		12,612,253
TOTAL NONCONVERTIBLE BONDS (Cost $151,835,633)		129,165,412

U.S. Treasury Obligations - 8.0%
	Principal Amount (a)	Value ($)
U.S. Treasury Bonds:
1.875% 2/15/41	540,000	385,952
2% 11/15/41	600,000	433,664
3.625% 2/15/53	11,050,000	10,519,953
U.S. Treasury Notes 3.5% 2/15/33	445,000	430,329
TOTAL U.S. TREASURY OBLIGATIONS (Cost $12,262,754)		11,769,898

Asset-Backed Securities - 0.1%
	Principal Amount (a)	Value ($)
Dominos Pizza Master Issuer LLC Series 2018-1A Class A2I, 4.116% 7/25/48 (b) (Cost $123,518)	123,518	117,577

Bank Notes - 0.3%
	Principal Amount (a)	Value ($)
Truist Bank 2.25% 3/11/30 (Cost $499,420)	500,000	412,628

Preferred Securities - 0.7%
	Principal Amount (a)	Value ($)
ENERGY - 0.2%
Oil, Gas & Consumable Fuels - 0.2%
Enbridge, Inc. 5.75% 7/15/80 (c)	355,000	335,481
FINANCIALS - 0.5%
Capital Markets - 0.5%
UBS Group AG:
4.375% (b)(c)(f)	265,000	208,763
4.875% (b)(c)(f)	570,000	500,548
		709,311
TOTAL PREFERRED SECURITIES (Cost $1,203,493)		1,044,792

Money Market Funds - 2.6%
	Shares	Value ($)
Fidelity Cash Central Fund 4.63% (g) (Cost $3,891,824)	3,891,129	3,891,907

TOTAL INVESTMENT IN SECURITIES - 99.8% (Cost $169,816,642)	146,402,214
NET OTHER ASSETS (LIABILITIES) - 0.2%	231,437
NET ASSETS - 100.0%	146,633,651

Legend

(a)	Amount is stated in United States dollars unless otherwise noted.

(b)

Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At the end of the period, the value of these securities amounted to $29,580,314 or 20.2% of net assets.

(c)	Coupon rates for floating and adjustable rate securities reflect the rates in effect at period end.

(d)	Coupon is indexed to a floating interest rate which may be multiplied by a specified factor and/or subject to caps or floors.

(e)	Security or a portion of the security purchased on a delayed delivery or when-issued basis.

(f)	Security is perpetual in nature with no stated maturity date.

(g)

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 are available on the SEC's website or upon request.

Affiliated Central Funds

Fiscal year to date information regarding the Fund's investments in Fidelity Central Funds, including the ownership percentage, is presented below.

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 4.63%	6,102,184	17,144,943	19,355,220	96,499	-	-	3,891,907	0.0%
Total	6,102,184	17,144,943	19,355,220	96,499	-	-	3,891,907

Amounts in the dividend income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line item in the Statement of Operations, if applicable.

Amounts included in the purchases and sales proceeds columns may include in-kind transactions, if applicable.

Investment Valuation

The following is a summary of the inputs used, as of February 28, 2023, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.

Valuation Inputs at Reporting Date:
Description	Total ($)	Level 1 ($)	Level 2 ($)	Level 3 ($)
Investments in Securities:

Corporate Bonds	129,165,412	-	129,165,412	-

U.S. Government and Government Agency Obligations	11,769,898	-	11,769,898	-

Asset-Backed Securities	117,577	-	117,577	-

Bank Notes	412,628	-	412,628	-

Preferred Securities	1,044,792	-	1,044,792	-

Money Market Funds	3,891,907	3,891,907	-	-
Total Investments in Securities:	146,402,214	3,891,907	142,510,307	-

Fidelity® Corporate Bond ETF

Financial Statements (Unaudited)

Statement of Assets and Liabilities
				February 28, 2023 (Unaudited)

Assets
Investment in securities, at value - See accompanying schedule:
Unaffiliated issuers (cost $165,924,818)	$	142,510,307
Fidelity Central Funds (cost $3,891,824)		3,891,907


Total Investment in Securities (cost $169,816,642)			$	146,402,214
Cash				32,010
Dividends receivable				3,104
Interest receivable				1,530,402
Distributions receivable from Fidelity Central Funds				17,047
Total assets				147,984,777
Liabilities
Payable for investments purchased
Regular delivery	$	569,250
Delayed delivery		280,788
Distributions payable		455,000
Accrued management fee		46,088
Total Liabilities				1,351,126
Net Assets			$	146,633,651
Net Assets consist of:
Paid in capital			$	179,796,509
Total accumulated earnings (loss)				(33,162,858)
Net Assets			$	146,633,651
Net Asset Value , offering price and redemption price per share ($146,633,651 ÷ 3,250,000 shares)			$	45.12

Statement of Operations
				Six months ended February 28, 2023 (Unaudited)
Investment Income
Dividends			$	29,897
Interest				2,873,437
Income from Fidelity Central Funds				96,499
Total Income				2,999,833
Expenses
Management fee	$	273,277
Independent trustees' fees and expenses		301
Total expenses before reductions		273,578
Expense reductions		(166)
Total expenses after reductions				273,412
Net Investment income (loss)				2,726,421
Realized and Unrealized Gain (Loss)
Net realized gain (loss) on:
Investment Securities:
Unaffiliated issuers		(4,759,857)
Redemptions in-kind		(1,399,753)
Total net realized gain (loss)				(6,159,610)
Change in net unrealized appreciation (depreciation) on investment securities				2,277,606
Net gain (loss)				(3,882,004)
Net increase (decrease) in net assets resulting from operations			$	(1,155,583)

Statement of Changes in Net Assets

		Six months ended February 28, 2023 (Unaudited)		Year ended August 31, 2022
Increase (Decrease) in Net Assets
Operations
Net investment income (loss)	$	2,726,421	$	6,108,217
Net realized gain (loss)		(6,159,610)		(9,167,989)
Change in net unrealized appreciation (depreciation)		2,277,606		(37,051,282)
Net increase (decrease) in net assets resulting from operations		(1,155,583)		(40,111,054)
Distributions to shareholders		(2,720,000)		(6,112,550)
Share transactions
Proceeds from sales of shares		18,146,793		11,095,233
Cost of shares redeemed		(27,127,671)		(99,842,693)
Net increase (decrease) in net assets resulting from share transactions		(8,980,878)		(88,747,460)
Total increase (decrease) in net assets		(12,856,461)		(134,971,064)

Net Assets
Beginning of period		159,490,112		294,461,176
End of period	$	146,633,651	$	159,490,112

Other Information
Shares
Sold		400,000		200,000
Redeemed		(600,000)		(2,000,000)
Net increase (decrease)		(200,000)		(1,800,000)

Financial Highlights

Fidelity® Corporate Bond ETF

		Six months ended (Unaudited) February 28, 2023		Years ended August 31, 2022		2021		2020		2019		2018
Selected Per-Share Data
Net asset value, beginning of period	$	46.23	$	56.09	$	55.93	$	53.26	$	48.64	$	50.97
Income from Investment Operations
Net investment income (loss) A,B		.808		1.339		1.321		1.546		1.732		1.599
Net realized and unrealized gain (loss)		(1.102)		(9.824)		.387		2.655		4.610		(2.311)
Total from investment operations		(.294)		(8.485)		1.708		4.201		6.342		(.712)
Distributions from net investment income		(.816)		(1.375)		(1.308)		(1.531)		(1.722)		(1.618)
Distributions from net realized gain		-		-		(.244)		-		-		-
Total distributions		(.816)		(1.375)		(1.552)		(1.531)		(1.722)		(1.618)
Net asset value, end of period	$	45.12	$	46.23	$	56.09	$	55.93	$	53.26	$	48.64
Total Return C,D,E		(.61)%		(15.30)%		3.11%		8.06%		13.39%		(1.41)%
Ratios to Average Net Assets B,F,G
Expenses before reductions		.36% H		.36%		.36%		.36%		.36%		.42%
Expenses net of fee waivers, if any		.36% H		.36%		.36%		.36%		.36%		.42%
Expenses net of all reductions		.36% H		.36%		.36%		.36%		.36%		.42%
Net investment income (loss)		3.62% H		2.60%		2.38%		2.88%		3.45%		3.22%
Supplemental Data
Net assets, end of period (000 omitted)	$	146,634	$	159,490	$	294,461	$	206,932	$	127,822	$	58,362
Portfolio turnover rate I		42% H,J		32% J		26% J		31% J		40%		81% J

A Calculated based on average shares outstanding during the period.

B Net investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.

C Total returns for periods of less than one year are not annualized.

D Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

E Based on net asset value.

F Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.

G Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.

H Annualized.

I Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).

J Portfolio turnover rate excludes securities received or delivered in-kind.

Fidelity® Investment Grade Bond ETF

Investment Summary February 28, 2023 (Unaudited)

Quality Diversification (% of Fund's net assets)

Asset Allocation (% of Fund's net assets)

Foreign investments - 6.2%

Percentages in the above tables are adjusted for the effect of TBA Sale Commitments.

Fidelity® Investment Grade Bond ETF

Schedule of Investments February 28, 2023 (Unaudited)

Showing Percentage of Net Assets

Nonconvertible Bonds - 35.9%
	Principal Amount (a)	Value ($)
COMMUNICATION SERVICES - 5.0%
Diversified Telecommunication Services - 1.8%
AT&T, Inc. 4.3% 2/15/30	134,000	125,702
Verizon Communications, Inc.:
3.15% 3/22/30	36,000	31,522
4.329% 9/21/28	80,000	76,642
		233,866
Entertainment - 0.6%
The Walt Disney Co. 2.65% 1/13/31	90,000	76,657
Media - 1.8%
Charter Communications Operating LLC/Charter Communications Operating Capital Corp. 2.8% 4/1/31	149,000	116,773
Magallanes, Inc.:
3.428% 3/15/24 (b)	5,000	4,880
3.638% 3/15/25 (b)	3,000	2,862
3.755% 3/15/27 (b)	6,000	5,504
4.054% 3/15/29 (b)	2,000	1,789
4.279% 3/15/32 (b)	5,000	4,317
5.05% 3/15/42 (b)	3,000	2,430
5.141% 3/15/52 (b)	42,000	32,924
Time Warner Cable LLC 5.5% 9/1/41	60,000	50,512
		221,991
Wireless Telecommunication Services - 0.8%
T-Mobile U.S.A., Inc. 4.5% 4/15/50	126,000	104,521
TOTAL COMMUNICATION SERVICES		637,035
CONSUMER DISCRETIONARY - 1.5%
Automobiles - 0.3%
General Motors Financial Co., Inc. 4% 1/15/25	36,000	34,892
Household Durables - 1.0%
Lennar Corp. 4.75% 11/29/27	132,000	126,396
Specialty Retail - 0.1%
Lowe's Companies, Inc.:
3.35% 4/1/27	2,000	1,871
3.75% 4/1/32	2,000	1,772
4.25% 4/1/52	10,000	7,874
4.45% 4/1/62	10,000	7,834
		19,351
Textiles, Apparel & Luxury Goods - 0.1%
Tapestry, Inc. 3.05% 3/15/32	18,000	14,302
TOTAL CONSUMER DISCRETIONARY		194,941
CONSUMER STAPLES - 2.1%
Beverages - 1.0%
Anheuser-Busch InBev Worldwide, Inc. 5.45% 1/23/39	120,000	119,605
Food & Staples Retailing - 0.2%
Sysco Corp. 6.6% 4/1/50	27,000	29,628
Food Products - 0.9%
JBS U.S.A. Lux SA / JBS Food Co.:
5.125% 2/1/28 (b)	5,000	4,752
5.5% 1/15/30 (b)	105,000	98,831
5.75% 4/1/33 (b)	10,000	9,327
		112,910
TOTAL CONSUMER STAPLES		262,143
ENERGY - 2.9%
Oil, Gas & Consumable Fuels - 2.9%
DCP Midstream Operating LP 5.125% 5/15/29	40,000	38,503
Energy Transfer LP 4.95% 6/15/28	60,000	57,949
Hess Corp.:
4.3% 4/1/27	67,000	64,134
5.6% 2/15/41	2,000	1,868
MPLX LP 4.8% 2/15/29	60,000	57,630
Petroleos Mexicanos 7.69% 1/23/50	151,000	106,070
The Williams Companies, Inc.:
4.65% 8/15/32	6,000	5,590
5.3% 8/15/52	2,000	1,807
Western Gas Partners LP 4.3% 2/1/30	40,000	35,438
		368,989
FINANCIALS - 15.0%
Banks - 7.9%
Bank of America Corp.:
2.299% 7/21/32 (c)	5,000	3,910
4.183% 11/25/27	254,000	242,147
5.015% 7/22/33 (c)	20,000	19,242
Citigroup, Inc. 4.45% 9/29/27	236,000	225,381
JPMorgan Chase & Co.:
4.493% 3/24/31 (c)	192,000	181,153
4.912% 7/25/33 (c)	40,000	38,300
NatWest Group PLC 3.073% 5/22/28 (c)	200,000	180,450
Wells Fargo & Co.:
4.478% 4/4/31 (c)	80,000	75,242
4.897% 7/25/33 (c)	40,000	38,205
		1,004,030
Capital Market