Contents
Top
Holdings (% of Fund's net
assets) | ||
Taiwan
Semiconductor Manufacturing Co. Ltd. |
5.8 |
|
Keyence
Corp. |
5.5 |
|
NVIDIA
Corp. |
5.4 |
|
PTC,
Inc. |
5.3 |
|
FANUC
Corp. |
5.0 |
|
SMC
Corp. |
4.1 |
|
HIWIN
Technologies Corp. |
3.9 |
|
Misumi
Group, Inc. |
3.8 |
|
Teradyne,
Inc. |
3.6 |
|
Leader
Harmonious Drive Systems Co. Ltd. (A Shares) |
3.5 |
|
45.9 |
||
Market
Sectors (% of Fund's net assets) | ||
Industrials |
49.6 |
|
Information
Technology |
42.8 |
|
Consumer
Discretionary |
3.5 |
|
Health
Care |
1.8 |
|
Communication
Services |
1.6 |
|
Asset
Allocation (% of Fund's net assets)
|
![]() |
Geographic
Diversification (% of Fund's net assets)
|
![]() |
*
Includes Short-Term investments and Net Other Assets
(Liabilities).
Percentages
are adjusted for the effect of derivatives, if
applicable. |
Common
Stocks - 99.3% | |||
Shares |
Value
($)
| ||
COMMUNICATION
SERVICES - 1.6% |
|||
Interactive
Media & Services - 1.6% |
|||
Alphabet,
Inc. Class C (a) |
12,388 |
1,659,001 | |
CONSUMER
DISCRETIONARY - 3.5% |
|||
Automobile
Components - 1.4% |
|||
Mobileye
Global, Inc. (a)(b) |
34,525 |
1,417,251 | |
Automobiles
- 1.3% |
|||
Tesla,
Inc. (a) |
5,424 |
1,302,194 | |
Broadline
Retail - 0.8% |
|||
Amazon.com,
Inc. (a) |
6,018 |
879,170 | |
TOTAL CONSUMER
DISCRETIONARY |
3,598,615 | ||
HEALTH
CARE - 1.8% |
|||
Health
Care Equipment & Supplies - 1.8% |
|||
Intuitive
Surgical, Inc. (a) |
5,835 |
1,813,751 | |
INDUSTRIALS
- 49.6% |
|||
Electrical
Equipment - 3.9% |
|||
AMETEK,
Inc. |
8,685 |
1,348,173 | |
Rockwell
Automation, Inc. |
6,786 |
1,869,136 | |
Sensata
Technologies, Inc. PLC |
22,552 |
733,166 | |
3,950,475 | |||
Industrial
Conglomerates - 3.5% |
|||
Honeywell
International, Inc. |
6,664 |
1,305,611 | |
Siemens
AG |
13,523 |
2,266,847 | |
3,572,458 | |||
Machinery
- 40.0% |
|||
Airtac
International Group |
34,187 |
1,181,453 | |
ATS
Corp. (a)(b) |
47,255 |
1,859,972 | |
AutoStore
Holdings Ltd. (a)(c) |
596,075 |
988,597 | |
Daifuku
Co. Ltd. |
121,606 |
2,282,676 | |
Deere
& Co. |
5,050 |
1,840,271 | |
Dongguan
Yiheda Automation Co. Ltd. |
474,944 |
1,877,481 | |
Estun
Automation Co. Ltd. (A Shares) |
867,836 |
2,331,255 | |
FANUC
Corp. |
184,706 |
5,125,324 | |
HIWIN
Technologies Corp. |
548,012 |
3,988,430 | |
Kardex
AG |
6,564 |
1,570,353 | |
Leader
Harmonious Drive Systems Co. Ltd. (A Shares) |
162,381 |
3,632,966 | |
Misumi
Group, Inc. |
239,757 |
3,881,133 | |
Nabtesco
Corp. |
29,141 |
543,961 | |
Shenzhen
Inovance Technology Co. Ltd. (A Shares) |
238,293 |
2,204,200 | |
SMC
Corp. |
8,335 |
4,185,490 | |
Symbotic,
Inc. (a)(b) |
34,046 |
1,800,352 | |
THK
Co. Ltd. |
88,514 |
1,763,295 | |
41,057,209 | |||
Professional
Services - 2.2% |
|||
Recruit
Holdings Co. Ltd. |
60,981 |
2,264,268 | |
TOTAL INDUSTRIALS |
50,844,410 | ||
INFORMATION
TECHNOLOGY - 42.8% |
|||
Electronic
Equipment, Instruments & Components - 10.1% |
|||
Keyence
Corp. |
13,172 |
5,628,263 | |
OPT
Machine Vision Tech Co. Ltd. |
127,256 |
2,025,753 | |
Renishaw
PLC |
39,900 |
1,579,658 | |
Teledyne
Technologies, Inc. (a) |
2,665 |
1,073,888 | |
10,307,562 | |||
IT
Services - 2.1% |
|||
Accenture
PLC Class A |
6,587 |
2,194,393 | |
Semiconductors
& Semiconductor Equipment - 14.8% |
|||
NVIDIA
Corp. |
11,892 |
5,561,888 | |
Taiwan
Semiconductor Manufacturing Co. Ltd. |
323,363 |
5,942,807 | |
Teradyne,
Inc. |
40,263 |
3,713,456 | |
15,218,151 | |||
Software
- 15.8% |
|||
Altair
Engineering, Inc. Class A (a) |
13,012 |
942,850 | |
ANSYS,
Inc. (a) |
3,201 |
939,045 | |
Autodesk,
Inc. (a) |
3,898 |
851,440 | |
Dassault
Systemes SA |
45,861 |
2,144,800 | |
Manhattan
Associates, Inc. (a) |
4,720 |
1,052,796 | |
Microsoft
Corp. |
3,064 |
1,160,980 | |
Nemetschek
SE |
10,214 |
889,880 | |
PTC,
Inc. (a) |
34,816 |
5,478,646 | |
Synopsys,
Inc. (a) |
4,257 |
2,312,530 | |
Unity
Software, Inc. (a)(b) |
15,600 |
460,356 | |
16,233,323 | |||
TOTAL INFORMATION
TECHNOLOGY |
43,953,429 | ||
TOTAL
COMMON STOCKS
(Cost
$98,757,459) |
101,869,206 | ||
Money
Market Funds - 5.2% | |||
Shares |
Value
($)
| ||
Fidelity
Cash Central Fund 5.40% (d) |
544,816 |
544,925 | |
Fidelity
Securities Lending Cash Central Fund 5.39% (d)(e) |
4,840,041 |
4,840,525 | |
TOTAL
MONEY MARKET FUNDS
(Cost
$5,385,450) |
5,385,450 | ||
TOTAL
INVESTMENT IN SECURITIES - 104.5%
(Cost
$104,142,909)
|
107,254,656 |
NET
OTHER ASSETS (LIABILITIES) - (4.5)% |
(4,622,760) |
NET
ASSETS - 100.0% |
102,631,896 |
(a) |
Non-income
producing
|
(b) |
Security
or a portion of the security is on loan at period end.
|
(c) |
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 $988,597 or 1.0% of
net assets.
|
(d) |
Affiliated
fund that is generally available only to investment companies and other
accounts managed by Fidelity Investments. The rate quoted is the
annualized seven-day yield of the fund at period end. A complete unaudited
listing of the fund's holdings as of its most recent quarter end is
available upon request. In addition, each Fidelity Central Fund's
financial statements are available on the SEC's website or upon
request.
|
(e) |
Investment
made with cash collateral received from securities on loan.
|
Affiliate
|
Value,
beginning
of
period ($) |
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 5.40% |
794,696 |
18,112,720 |
18,362,491 |
34,174 |
- |
- |
544,925 |
0.0% |
Fidelity
Securities Lending Cash Central Fund 5.39% |
2,079,750 |
28,075,568 |
25,314,793 |
62,582 |
- |
- |
4,840,525 |
0.0% |
Total |
2,874,446 |
46,188,288 |
43,677,284 |
96,756 |
- |
- |
5,385,450 |
|
Valuation
Inputs at Reporting Date: | ||||
Description |
Total
($) |
Level
1 ($) |
Level
2 ($) |
Level
3 ($) |
Investments
in Securities: |
||||
Equities: |
||||
Communication
Services |
1,659,001 |
1,659,001 |
- |
- |
Consumer
Discretionary |
3,598,615 |
3,598,615 |
- |
- |
Health
Care |
1,813,751 |
1,813,751 |
- |
- |
Industrials |
50,844,410 |
50,844,410 |
- |
- |
Information
Technology |
43,953,429 |
43,953,429 |
- |
- |
Money Market
Funds |
5,385,450 |
5,385,450 |
- |
- |
Total Investments in Securities: |
107,254,656 |
107,254,656 |
- |
- |
Statement
of Assets and Liabilities | ||||
November
30, 2023
(Unaudited) | ||||
Assets
|
||||
Investment
in securities, at value (including securities loaned of $4,611,062) - See accompanying
schedule: |
||||
Unaffiliated issuers (cost
$98,757,459) |
$ |
101,869,206 |
||
Fidelity Central Funds (cost
$5,385,450) |
5,385,450 |
|||
Total
Investment in Securities (cost $104,142,909) |
$ |
107,254,656 | ||
Dividends
receivable |
152,624 | |||
Reclaims
receivable |
95,554 | |||
Distributions
receivable from Fidelity Central Funds |
10,928 | |||
Total assets |
107,513,762 | |||
Liabilities |
||||
Accrued
management fee |
$ |
41,341 |
||
Collateral
on securities loaned |
4,840,525 |
|||
Total
Liabilities |
4,881,866 | |||
Net
Assets |
$ |
102,631,896 | ||
Net
Assets consist of: |
||||
Paid
in capital |
$ |
106,879,549 | ||
Total
accumulated earnings (loss) |
(4,247,653) | |||
Net
Assets |
$ |
102,631,896 | ||
Net
Asset Value,
offering price and redemption price per share ($102,631,896 ÷ 4,305,492
shares) |
$ |
23.84 |
Statement
of Operations | ||||
Six
months ended
November
30, 2023
(Unaudited) | ||||
Investment
Income |
||||
Dividends
|
$ |
393,263 | ||
Interest
|
909 | |||
Income
from Fidelity Central Funds (including $62,582 from security lending)
|
96,756 | |||
Total Income |
490,928 | |||
Expenses |
||||
Management
fee |
$ |
266,979 |
||
Independent
trustees' fees and expenses |
287 |
|||
Interest |
814 |
|||
Total expenses before reductions |
268,080 |
|||
Expense reductions |
(102) |
|||
Total expenses after reductions |
267,978 | |||
Net
Investment income (loss) |
222,950 | |||
Realized
and Unrealized Gain (Loss) |
||||
Net
realized gain (loss) on: |
||||
Investment Securities: |
||||
Unaffiliated issuers |
(1,751,265) |
|||
Redemptions in-kind |
1,817,374 |
|||
Foreign currency transactions |
(1,748) |
|||
Total
net realized gain (loss) |
64,361 | |||
Change
in net unrealized appreciation (depreciation) on: |
||||
Investment Securities: |
||||
Unaffiliated issuers |
(5,086,134) |
|||
Assets and liabilities in foreign
currencies |
6,063 |
|||
Total
change in net unrealized appreciation (depreciation) |
(5,080,071) | |||
Net
gain (loss) |
(5,015,710) | |||
Net
increase (decrease) in net assets resulting from
operations |
$ |
(4,792,760) |
Statement
of Changes in Net Assets | ||||
Six
months ended
November
30, 2023
(Unaudited) |
Year
ended
May
31, 2023 | |||
Increase
(Decrease) in Net Assets |
||||
Operations |
||||
Net
investment income (loss) |
$ |
222,950 |
$ |
478,333 |
Net
realized gain (loss) |
64,361
|
(4,420,381)
| ||
Change
in net unrealized appreciation (depreciation) |
(5,080,071) |
12,045,246
| ||
Net
increase (decrease) in net assets resulting from
operations |
(4,792,760)
|
8,103,198
| ||
Distributions
to shareholders |
(397,501)
|
(182,874)
| ||
Share
transactions - net increase (decrease) |
-
|
(19,835,179)
| ||
Share
transactions |
||||
Proceeds
from sales of shares |
6,340,894 |
- | ||
Reinvestment of
distributions |
249,235
|
-
| ||
Cost
of shares redeemed |
(10,493,526) |
- | ||
Net increase (decrease) in net assets resulting from share
transactions |
(3,903,397)
|
(19,835,179)
| ||
Total
increase (decrease) in net assets |
(9,093,658)
|
(11,914,855)
| ||
Net
Assets |
||||
Beginning
of period |
111,725,554 |
123,640,409
| ||
End
of period |
$ |
102,631,896 |
$ |
111,725,554 |
Other
Information |
||||
Shares |
||||
Sold |
323,637 |
5,260,948 | ||
Issued in reinvestment of
distributions |
9,878
|
8,292
| ||
Redeemed |
(534,365) |
(6,297,436) | ||
Net
increase (decrease) |
(200,850) |
(1,028,196) | ||
Fidelity®
Disruptive Automation ETF |
Six
months ended
(Unaudited)
November 30, 2023
A |
Years
ended May 31, 2023 A |
2022 A
|
2021 A |
2020 A,B | ||||||
Selected Per-Share
Data |
||||||||||
Net asset value, beginning
of period |
$ |
24.80 |
$ |
22.33 |
$ |
27.34 |
$ |
17.80 |
$ |
14.96 |
Income from Investment
Operations |
||||||||||
Net investment income (loss) C,D |
.05
|
.05
|
(.09)
|
.02
|
(.02)
| |||||
Net realized and unrealized gain (loss)
|
(.92)
|
2.42
|
(4.37)
|
9.60
|
2.86
| |||||
Total from investment
operations |
(.87)
|
2.47
|
(4.46)
|
9.62
|
2.84
| |||||
Distributions from net
investment income |
(.09)
|
-
|
-
|
(.06)
|
-
| |||||
Distributions from net
realized gain |
-
|
-
|
(.55)
|
(.03)
|
-
| |||||
Total distributions |
(.09)
|
-
|
(.55)
|
(.08)
E |
-
| |||||
Net asset value, end of
period |
$ |
23.84 |
$ |
24.80 |
$ |
22.33 |
$ |
27.34 |
$ |
17.80 |
Total Return F,G,H |
(3.52)%
|
11.05%
|
(16.75)%
|
54.13%
|
19.00%
| |||||
Ratios to Average Net Assets D,I,J |
||||||||||
Expenses before reductions
|
.50%
K |
.85%
|
1.00%
|
1.01%
L |
1.01%
K,L | |||||
Expenses net of fee
waivers, if any |
.50%
K |
.85%
|
1.00%
|
1.01%
L |
1.01%
K,L | |||||
Expenses net of all
reductions |
.50%
K |
.85%
|
1.00%
|
1.01%
L |
1.01%
K,L | |||||
Net investment income
(loss) |
.42%
K |
.23%
|
(.33)%
|
.06%
|
(.47)%
K | |||||
Supplemental Data |
||||||||||
Net assets, end of period
(000 omitted) |
$ |
102,632 |
$ |
111,726 |
$ |
36,333 |
$ |
111,910 |
$ |
5,308 |
Portfolio turnover rate
M |
38%
K,N |
26%
|
22%
|
14%
|
6%
O |
Top
Holdings (% of Fund's net
assets) | ||
Snap,
Inc. Class A |
6.2 |
|
Meta
Platforms, Inc. Class A |
6.0 |
|
Netflix,
Inc. |
5.9 |
|
American
Tower Corp. |
5.3 |
|
Arista
Networks, Inc. |
5.2 |
|
Liberty
Broadband Corp. Class A |
5.2 |
|
Amazon.com,
Inc. |
5.1 |
|
Alphabet,
Inc. Class A |
5.1 |
|
NVIDIA
Corp. |
4.8 |
|
PDD
Holdings, Inc. ADR |
4.8 |
|
53.6 |
||
Market
Sectors (% of Fund's net assets) | ||
Communication
Services |
48.4 |
|
Information
Technology |
28.4 |
|
Consumer
Discretionary |
11.5 |
|
Real
Estate |
5.3 |
|
Industrials |
4.1 |
|
Energy |
2.1 |
|
Asset
Allocation (% of Fund's net assets)
|
![]() |
Geographic
Diversification (% of Fund's net assets)
|
![]() |
*
Includes Short-Term investments and Net Other Assets
(Liabilities).
Percentages
are adjusted for the effect of derivatives, if
applicable. |
Common
Stocks - 99.8% | |||
Shares |
Value
($)
| ||
COMMUNICATION
SERVICES - 48.4% |
|||
Diversified
Telecommunication Services - 4.3% |
|||
Cellnex
Telecom SA (a) |
35,610 |
1,358,202 | |
Liberty
Latin America Ltd. Class C (b) |
49,208 |
336,091 | |
1,694,293 | |||
Entertainment
- 9.7% |
|||
Netflix,
Inc. (b) |
4,804 |
2,276,952 | |
Sea
Ltd. ADR (b) |
41,108 |
1,488,932 | |
3,765,884 | |||
Interactive
Media & Services - 25.0% |
|||
Alphabet,
Inc. Class A (b) |
14,964 |
1,983,179 | |
Angi,
Inc. (b) |
171,855 |
386,674 | |
Bumble,
Inc. (b) |
21,372 |
296,216 | |
Match
Group, Inc. (b) |
23,958 |
775,760 | |
Meta
Platforms, Inc. Class A (b) |
7,197 |
2,354,499 | |
Pinterest,
Inc. Class A (b) |
25,263 |
860,710 | |
Snap,
Inc. Class A (b) |
175,691 |
2,429,807 | |
Tencent
Holdings Ltd. |
16,159 |
676,455 | |
9,763,300 | |||
Media
- 5.6% |
|||
DISH
Network Corp. Class A (b)(c) |
45,026 |
164,795 | |
Liberty
Broadband Corp. Class A (b) |
24,241 |
2,010,549 | |
2,175,344 | |||
Wireless
Telecommunication Services - 3.8% |
|||
T-Mobile
U.S., Inc. |
9,763 |
1,468,843 | |
TOTAL COMMUNICATION
SERVICES |
18,867,664 | ||
CONSUMER
DISCRETIONARY - 11.5% |
|||
Broadline
Retail - 11.5% |
|||
Alibaba
Group Holding Ltd. sponsored ADR (b) |
8,054 |
603,084 | |
Amazon.com,
Inc. (b) |
13,716 |
2,003,770 | |
PDD
Holdings, Inc. ADR (b) |
12,632 |
1,862,462 | |
4,469,316 | |||
ENERGY
- 2.1% |
|||
Oil,
Gas & Consumable Fuels - 2.1% |
|||
Reliance
Industries Ltd. GDR (a) |
14,117 |
808,904 | |
INDUSTRIALS
- 4.1% |
|||
Construction
& Engineering - 0.9% |
|||
Dycom
Industries, Inc. (b) |
3,574 |
371,231 | |
Ground
Transportation - 3.2% |
|||
Uber
Technologies, Inc. (b) |
21,920 |
1,235,850 | |
TOTAL INDUSTRIALS |
1,607,081 | ||
INFORMATION
TECHNOLOGY - 28.4% |
|||
Communications
Equipment - 5.2% |
|||
Arista
Networks, Inc. (b) |
9,186 |
2,018,256 | |
IT
Services - 3.0% |
|||
Cloudflare,
Inc. (b) |
5,626 |
434,046 | |
Twilio,
Inc. Class A (b) |
11,235 |
726,680 | |
1,160,726 | |||
Semiconductors
& Semiconductor Equipment - 12.2% |
|||
Impinj,
Inc. (b) |
3,583 |
299,503 | |
NVIDIA
Corp. |
4,014 |
1,877,348 | |
NXP
Semiconductors NV |
2,731 |
557,342 | |
ON
Semiconductor Corp. (b) |
5,376 |
383,470 | |
Renesas
Electronics Corp. (b) |
33,749 |
592,645 | |
Taiwan
Semiconductor Manufacturing Co. Ltd. sponsored ADR |
10,764 |
1,047,445 | |
4,757,753 | |||
Software
- 8.0% |
|||
Cadence
Design Systems, Inc. (b) |
3,915 |
1,069,852 | |
Microsoft
Corp. |
3,329 |
1,261,391 | |
RingCentral,
Inc. (b) |
9,146 |
260,295 | |
Synopsys,
Inc. (b) |
979 |
531,822 | |
3,123,360 | |||
TOTAL INFORMATION
TECHNOLOGY |
11,060,095 | ||
REAL
ESTATE - 5.3% |
|||
Equity
Real Estate Investment Trusts (REITs) - 5.3% |
|||
American
Tower Corp. |
10,016 |
2,091,140 | |
TOTAL
COMMON STOCKS
(Cost
$35,337,120) |
38,904,200 | ||
Money
Market Funds - 0.7% | |||
Shares |
Value
($)
| ||
Fidelity
Cash Central Fund 5.40% (d) |
239,978 |
240,026 | |
Fidelity
Securities Lending Cash Central Fund 5.39% (d)(e) |
47,620 |
47,625 | |
TOTAL
MONEY MARKET FUNDS
(Cost
$287,651) |
287,651 | ||
TOTAL
INVESTMENT IN SECURITIES - 100.5%
(Cost
$35,624,771)
|
39,191,851 |
NET
OTHER ASSETS (LIABILITIES) - (0.5)% |
(205,405) |
NET
ASSETS - 100.0% |
38,986,446 |
(a) |
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 $2,167,106 or 5.6%
of net assets.
|
(b) |
Non-income
producing
|
(c) |
Security
or a portion of the security is on loan at period end.
|
(d) |
Affiliated
fund that is generally available only to investment companies and other
accounts managed by Fidelity Investments. The rate quoted is the
annualized seven-day yield of the fund at period end. A complete unaudited
listing of the fund's holdings as of its most recent quarter end is
available upon request. In addition, each Fidelity Central Fund's
financial statements are available on the SEC's website or upon
request.
|
(e) |
Investment
made with cash collateral received from securities on loan.
|
Affiliate
|
Value,
beginning
of
period ($) |
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 5.40% |
149,758 |
1,943,974 |
1,853,706 |
5,647 |
- |
- |
240,026 |
0.0% |
Fidelity
Securities Lending Cash Central Fund 5.39% |
- |
2,411,730 |
2,364,105 |
696 |
- |
- |
47,625 |
0.0% |
Total |
149,758 |
4,355,704 |
4,217,811 |
6,343 |
- |
- |
287,651 |
|
Valuation
Inputs at Reporting Date: | ||||
Description |
Total
($) |
Level
1 ($) |
Level
2 ($) |
Level
3 ($) |
Investments
in Securities: |
||||
Equities: |
||||
Communication
Services |
18,867,664 |
18,867,664 |
- |
- |
Consumer
Discretionary |
4,469,316 |
4,469,316 |
- |
- |
Energy |
808,904 |
808,904 |
- |
- |
Industrials |
1,607,081 |
1,607,081 |
- |
- |
Information
Technology |
11,060,095 |
11,060,095 |
- |
- |
Real
Estate |
2,091,140 |
2,091,140 |
- |
- |
Money Market
Funds |
287,651 |
287,651 |
- |
- |
Total Investments in Securities: |
39,191,851 |
39,191,851 |
- |
- |
Statement
of Assets and Liabilities | ||||
November
30, 2023
(Unaudited) | ||||
Assets
|
||||
Investment
in securities, at value (including securities loaned of $46,482) - See accompanying
schedule: |
||||
Unaffiliated issuers (cost
$35,337,120) |
$ |
38,904,200 |
||
Fidelity Central Funds (cost
$287,651) |
287,651 |
|||
Total
Investment in Securities (cost $35,624,771) |
$ |
39,191,851 | ||
Cash |
1,604 | |||
Foreign
currency held at value (cost $109) |
109 | |||
Receivable
for investments sold |
96,204 | |||
Dividends
receivable |
9,582 | |||
Interest
receivable |
36 | |||
Distributions
receivable from Fidelity Central Funds |
961 | |||
Total assets |
39,300,347 | |||
Liabilities |
||||
Payable
for investments purchased |
$ |
250,207 |
||
Accrued
management fee |
16,069 |
|||
Collateral
on securities loaned |
47,625 |
|||
Total
Liabilities |
313,901 | |||
Net
Assets |
$ |
38,986,446 | ||
Net
Assets consist of: |
||||
Paid
in capital |
$ |
44,258,795 | ||
Total
accumulated earnings (loss) |
(5,272,349) | |||
Net
Assets |
$ |
38,986,446 | ||
Net
Asset Value,
offering price and redemption price per share ($38,986,446 ÷ 1,407,063
shares) |
$ |
27.71 |
Statement
of Operations | ||||
Six
months ended
November
30, 2023
(Unaudited) | ||||
Investment
Income |
||||
Dividends
|
$ |
51,007 | ||
Interest
|
147 | |||
Income
from Fidelity Central Funds (including $696 from security lending)
|
6,343 | |||
Total Income |
57,497 | |||
Expenses |
||||
Management
fee |
$ |
96,845 |
||
Independent
trustees' fees and expenses |
102 |
|||
Total expenses before reductions |
96,947 |
|||
Expense reductions |
(110) |
|||
Total expenses after reductions |
96,837 | |||
Net
Investment income (loss) |
(39,340) | |||
Realized
and Unrealized Gain (Loss) |
||||
Net
realized gain (loss) on: |
||||
Investment Securities: |
||||
Unaffiliated issuers |
826,831 |
|||
Redemptions in-kind |
641,168 |
|||
Foreign currency transactions |
594 |
|||
Total
net realized gain (loss) |
1,468,593 | |||
Change
in net unrealized appreciation (depreciation) on: |
||||
Investment Securities: |
||||
Unaffiliated issuers |
3,405,713 |
|||
Assets and liabilities in foreign
currencies |
(40) |
|||
Total
change in net unrealized appreciation (depreciation) |
3,405,673 | |||
Net
gain (loss) |
4,874,266 | |||
Net
increase (decrease) in net assets resulting from
operations |
$ |
4,834,926 |
Statement
of Changes in Net Assets | ||||
Six
months ended
November
30, 2023
(Unaudited) |
Year
ended
May
31, 2023 | |||
Increase
(Decrease) in Net Assets |
||||
Operations |
||||
Net
investment income (loss) |
$ |
(39,340) |
$ |
(15,475) |
Net
realized gain (loss) |
1,468,593
|
(5,754,830)
| ||
Change
in net unrealized appreciation (depreciation) |
3,405,673 |
6,648,437
| ||
Net
increase (decrease) in net assets resulting from
operations |
4,834,926
|
878,132
| ||
Share
transactions - net increase (decrease) |
-
|
(9,971,399)
| ||
Share
transactions |
||||
Proceeds
from sales of shares |
1,993,878 |
- | ||
Cost
of shares redeemed |
(5,823,373) |
- | ||
Net increase (decrease) in net assets resulting from share
transactions |
(3,829,495)
|
(9,971,399)
| ||
Total
increase (decrease) in net assets |
1,005,431
|
(9,093,267)
| ||
Net
Assets |
||||
Beginning
of period |
37,981,015 |
47,074,282
| ||
End
of period |
$ |
38,986,446 |
$ |
37,981,015 |
Other
Information |
||||
Shares |
||||
Sold |
103,661 |
1,803,846 | ||
Redeemed |
(251,280) |
(2,265,568) | ||
Net
increase (decrease) |
(147,619) |
(461,722) | ||
Fidelity®
Disruptive Communications ETF |
Six
months ended
(Unaudited)
November 30, 2023
A |
Years
ended May 31, 2023 A |
2022 A
|
2021 A |
2020 A,B | ||||||
Selected Per-Share
Data |
||||||||||
Net asset value, beginning
of period |
$ |
24.44 |
$ |
23.29 |
$ |
34.12 |
$ |
23.21 |
$ |
20.05 |
Income from Investment
Operations |
||||||||||
Net investment income (loss) C,D |
(.03)
|
(.10)
|
(.26)
|
(.26)
|
-
E | |||||
Net realized and unrealized gain (loss)
|
3.30
|
1.25
|
(8.93)
|
11.59
|
3.16
| |||||
Total from investment
operations |
3.27
|
1.15
|
(9.19)
|
11.33
|
3.16
| |||||
Distributions from net
investment income |
-
|
-
|
-
|
-
E |
-
| |||||
Distributions from net
realized gain |
-
|
-
|
(1.64)
|
(.41)
|
-
| |||||
Total distributions |
-
|
-
|
(1.64)
|
(.42)
F |
-
| |||||
Net asset value, end of
period |
$ |
27.71 |
$ |
24.44 |
$ |
23.29 |
$ |
34.12 |
$ |
23.21 |
Total Return G,H,I |
13.39%
|
4.91%
|
(28.39)%
|
48.96%
|
15.80%
| |||||
Ratios to Average Net Assets D,J,K |
||||||||||
Expenses before reductions
|
.50%
L |
.79%
|
.99%
M |
1.01%
M |
1.01%
L,M | |||||
Expenses net of fee
waivers, if any |
.50%
L |
.79%
|
.99%
M |
1.01%
M |
1.01%
L,M | |||||
Expenses net of all
reductions |
.50%
L |
.79%
|
.99%
M |
1.01%
M |
1.01%
L,M | |||||
Net investment income
(loss) |
(.20)%
L |
(.44)%
|
(.81)%
|
(.83)%
|
(.23)%
L | |||||
Supplemental Data |
||||||||||
Net assets, end of period
(000 omitted) |
$ |
38,986 |
$ |
37,981 |
$ |
7,746 |
$ |
36,731 |
$ |
2,880 |
Portfolio turnover rate
N |
17%
L,O |
31%
|
32%
|
39%
|
-%
P |
Top
Holdings (% of Fund's net
assets) | ||
Visa,
Inc. Class A |
6.4 |
|
Adyen
BV |
6.1 |
|
MasterCard,
Inc. Class A |
5.8 |
|
BlackRock,
Inc. Class A |
5.5 |
|
Dlocal
Ltd. |
5.2 |
|
Equifax,
Inc. |
5.1 |
|
Aon
PLC |
4.7 |
|
Capital
One Financial Corp. |
4.4 |
|
Intercontinental
Exchange, Inc. |
4.0 |
|
FinecoBank
SpA |
3.4 |
|
50.6 |
||
Market
Sectors (% of Fund's net assets) | ||
Financials |
89.2 |
|
Industrials |
6.4 |
|
Consumer
Discretionary |
1.4 |
|
Information
Technology |
1.4 |
|
Real
Estate |
1.2 |
|
Asset
Allocation (% of Fund's net assets)
|
![]() |
Geographic
Diversification (% of Fund's net assets)
|
![]() |
*
Includes Short-Term investments and Net Other Assets
(Liabilities).
Percentages
are adjusted for the effect of derivatives, if
applicable. |
Common
Stocks - 99.6% | |||
Shares |
Value
($)
| ||
CONSUMER
DISCRETIONARY - 1.4% |
|||
Broadline
Retail - 1.4% |
|||
MercadoLibre,
Inc. (a) |
363 |
588,227 | |
FINANCIALS
- 89.2% |
|||
Banks
- 10.4% |
|||
DBS
Group Holdings Ltd. |
54,691 |
1,297,669 | |
DNB
Bank ASA |
62,473 |
1,189,995 | |
FinecoBank
SpA |
103,465 |
1,392,567 | |
Pathward
Financial, Inc. |
8,518 |
422,408 | |
SVB
Financial Group (a) |
3,427 |
69 | |
4,302,708 | |||
Capital
Markets - 20.5% |
|||
BlackRock,
Inc. Class A |
3,060 |
2,298,764 | |
Cboe
Global Markets, Inc. |
4,976 |
906,577 | |
Coinbase
Global, Inc. (a) |
5,600 |
698,432 | |
Intercontinental
Exchange, Inc. |
14,738 |
1,677,774 | |
London
Stock Exchange Group PLC |
10,500 |
1,180,555 | |
MSCI,
Inc. |
1,036 |
539,601 | |
Tradeweb
Markets, Inc. Class A |
7,139 |
691,769 | |
Virtu
Financial, Inc. Class A |
29,962 |
538,717 | |
8,532,189 | |||
Consumer
Finance - 7.1% |
|||
Ally
Financial, Inc. |
14,083 |
411,505 | |
Capital
One Financial Corp. |
16,419 |
1,833,346 | |
NerdWallet,
Inc. (a) |
61,676 |
724,693 | |
2,969,544 | |||
Financial
Services - 40.1% |
|||
Adyen
BV (a)(b) |
2,184 |
2,546,071 | |
Apollo
Global Management, Inc. |
12,863 |
1,183,396 | |
AvidXchange
Holdings, Inc. (a) |
78,329 |
835,770 | |
Block,
Inc. Class A (a) |
9,857 |
625,230 | |
Dlocal
Ltd. (a) |
125,561 |
2,165,927 | |
Fiserv,
Inc. (a) |
5,200 |
679,172 | |
Flywire
Corp. (a) |
45,084 |
1,050,457 | |
MasterCard,
Inc. Class A |
5,808 |
2,403,525 | |
PennyMac
Financial Services, Inc. |
6,024 |
468,607 | |
Remitly
Global, Inc. (a) |
18,891 |
406,912 | |
Repay
Holdings Corp. (a) |
53,085 |
398,138 | |
Shift4
Payments, Inc. (a)(c) |
5,354 |
352,400 | |
Visa,
Inc. Class A |
10,378 |
2,663,824 | |
Wise
PLC (a) |
93,544 |
922,083 | |
16,701,512 | |||
Insurance
- 11.1% |
|||
Aon
PLC |
5,900 |
1,938,091 | |
Beazley
PLC |
66,013 |
446,692 | |
BRP
Group, Inc. (a) |
65,263 |
1,141,450 | |
Hiscox
Ltd. |
85,183 |
1,092,599 | |
4,618,832 | |||
TOTAL FINANCIALS |
37,124,785 | ||
INDUSTRIALS
- 6.4% |
|||
Professional
Services - 6.4% |
|||
Equifax,
Inc. |
9,672 |
2,105,691 | |
Verisk
Analytics, Inc. |
2,310 |
557,703 | |
2,663,394 | |||
INFORMATION
TECHNOLOGY - 1.4% |
|||
Software
- 1.4% |
|||
Bill
Holdings, Inc. (a) |
3,382 |
221,420 | |
MicroStrategy,
Inc. Class A (a)(c) |
700 |
348,810 | |
570,230 | |||
REAL
ESTATE - 1.2% |
|||
Equity
Real Estate Investment Trusts (REITs) - 1.2% |
|||
American
Homes 4 Rent Class A |
14,440 |
523,739 | |
TOTAL
COMMON STOCKS
(Cost
$39,158,821) |
41,470,375 | ||
Money
Market Funds - 1.4% | |||
Shares |
Value
($)
| ||
Fidelity
Cash Central Fund 5.40% (d) |
144,426 |
144,455 | |
Fidelity
Securities Lending Cash Central Fund 5.39% (d)(e) |
445,805 |
445,850 | |
TOTAL
MONEY MARKET FUNDS
(Cost
$590,305) |
590,305 | ||
TOTAL
INVESTMENT IN SECURITIES - 101.0%
(Cost
$39,749,126)
|
42,060,680 |
NET
OTHER ASSETS (LIABILITIES) - (1.0)% |
(434,996) |
NET
ASSETS - 100.0% |
41,625,684 |
(a) |
Non-income
producing
|
(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 $2,546,071 or 6.1%
of net assets.
|
(c) |
Security
or a portion of the security is on loan at period end.
|
(d) |
Affiliated
fund that is generally available only to investment companies and other
accounts managed by Fidelity Investments. The rate quoted is the
annualized seven-day yield of the fund at period end. A complete unaudited
listing of the fund's holdings as of its most recent quarter end is
available upon request. In addition, each Fidelity Central Fund's
financial statements are available on the SEC's website or upon
request.
|
(e) |
Investment
made with cash collateral received from securities on loan.
|
Affiliate
|
Value,
beginning
of
period ($) |
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 5.40% |
- |
4,637,471 |
4,493,016 |
11,580 |
- |
- |
144,455 |
0.0% |
Fidelity
Securities Lending Cash Central Fund 5.39% |
334,700 |
6,496,716 |
6,385,566 |
2,835 |
- |
- |
445,850 |
0.0% |
Total |
334,700 |
11,134,187 |
10,878,582 |
14,415 |
- |
- |
590,305 |
|
Valuation
Inputs at Reporting Date: | ||||
Description |
Total
($) |
Level
1 ($) |
Level
2 ($) |
Level
3 ($) |
Investments
in Securities: |
||||
Equities: |
||||
Consumer
Discretionary |
588,227 |
588,227 |
- |
- |
Financials |
37,124,785 |
37,124,785 |
- |
- |
Industrials |
2,663,394 |
2,663,394 |
- |
- |
Information
Technology |
570,230 |
570,230 |
- |
- |
Real
Estate |
523,739 |
523,739 |
- |
- |
Money Market
Funds |
590,305 |
590,305 |
- |
- |
Total Investments in Securities: |
42,060,680 |
42,060,680 |
- |
- |
Statement
of Assets and Liabilities | ||||
November
30, 2023
(Unaudited) | ||||
Assets
|
||||
Investment
in securities, at value (including securities loaned of $430,620) - See accompanying
schedule: |
||||
Unaffiliated issuers (cost
$39,158,821) |
$ |
41,470,375 |
||
Fidelity Central Funds (cost
$590,305) |
590,305 |
|||
Total
Investment in Securities (cost $39,749,126) |
$ |
42,060,680 | ||
Cash |
6,961 | |||
Dividends
receivable |
19,738 | |||
Distributions
receivable from Fidelity Central Funds |
718 | |||
Total assets |
42,088,097 | |||
Liabilities |
||||
Accrued
management fee |
$ |
16,563 |
||
Collateral
on securities loaned |
445,850 |
|||
Total
Liabilities |
462,413 | |||
Net
Assets |
$ |
41,625,684 | ||
Net
Assets consist of: |
||||
Paid
in capital |
$ |
44,054,535 | ||
Total
accumulated earnings (loss) |
(2,428,851) | |||
Net
Assets |
$ |
41,625,684 | ||
Net
Asset Value,
offering price and redemption price per share ($41,625,684 ÷ 1,544,580
shares) |
$ |
26.95 |
Statement
of Operations | ||||
Six
months ended
November
30, 2023
(Unaudited) | ||||
Investment
Income |
||||
Dividends
|
$ |
208,966 | ||
Income
from Fidelity Central Funds (including $2,835 from security lending)
|
14,415 | |||
Total Income |
223,381 | |||
Expenses |
||||
Management
fee |
$ |
104,321 |
||
Independent
trustees' fees and expenses |
112 |
|||
Total expenses before reductions |
104,433 |
|||
Expense reductions |
(103) |
|||
Total expenses after reductions |
104,330 | |||
Net
Investment income (loss) |
119,051 | |||
Realized
and Unrealized Gain (Loss) |
||||
Net
realized gain (loss) on: |
||||
Investment Securities: |
||||
Unaffiliated issuers |
317,834 |
|||
Redemptions in-kind |
1,835,433 |
|||
Foreign currency transactions |
3,399 |
|||
Total
net realized gain (loss) |
2,156,666 | |||
Change
in net unrealized appreciation (depreciation) on: |
||||
Investment Securities: |
||||
Unaffiliated issuers |
2,195,612 |
|||
Assets and liabilities in foreign
currencies |
317 |
|||
Total
change in net unrealized appreciation (depreciation) |
2,195,929 | |||
Net
gain (loss) |
4,352,595 | |||
Net
increase (decrease) in net assets resulting from
operations |
$ |
4,471,646 |
Statement
of Changes in Net Assets | ||||
Six
months ended
November
30, 2023
(Unaudited) |
Year
ended
May
31, 2023 | |||
Increase
(Decrease) in Net Assets |
||||
Operations |
||||
Net
investment income (loss) |
$ |
119,051 |
$ |
429,106 |
Net
realized gain (loss) |
2,156,666
|
(5,165,409)
| ||
Change
in net unrealized appreciation (depreciation) |
2,195,929 |
(2,264,698)
| ||
Net
increase (decrease) in net assets resulting from
operations |
4,471,646
|
(7,001,001)
| ||
Distributions
to shareholders |
(305,577)
|
(3,640,977)
| ||
Share
transactions - net increase (decrease) |
-
|
(13,799,786)
| ||
Share
transactions |
||||
Proceeds
from sales of shares |
1,965,620 |
- | ||
Reinvestment of
distributions |
224,111
|
-
| ||
Cost
of shares redeemed |
(5,549,816) |
- | ||
Net increase (decrease) in net assets resulting from share
transactions |
(3,360,085)
|
(13,799,786)
| ||
Total
increase (decrease) in net assets |
805,984
|
(24,441,764)
| ||
Net
Assets |
||||
Beginning
of period |
40,819,700 |
65,261,464
| ||
End
of period |
$ |
41,625,684 |
$ |
40,819,700 |
Other
Information |
||||
Shares |
||||
Sold |
100,156 |
2,055,446 | ||
Issued in reinvestment of
distributions |
9,007
|
136,875
| ||
Redeemed |
(249,456) |
(2,748,212) | ||
Net
increase (decrease) |
(140,293) |
(555,891) | ||
Fidelity®
Disruptive Finance ETF |
Six
months ended
(Unaudited)
November 30, 2023
A |
Years
ended May 31, 2023 A |
2022 A
|
2021 A |
2020 A,B | ||||||
Selected Per-Share
Data |
||||||||||
Net asset value, beginning
of period |
$ |
24.23 |
$ |
29.04 |
$ |
34.73 |
$ |
22.63 |
$ |
19.08 |
Income from Investment
Operations |
||||||||||
Net investment income (loss) C,D |
.07
|
.12
|
.04
|
.21
|
.06
| |||||
Net realized and unrealized gain (loss)
|
2.83
|
(3.38)
|
(5.10)
|
12.24
|
3.49
| |||||
Total from investment
operations |
2.90
|
(3.26)
|
(5.06)
|
12.45
|
3.55
| |||||
Distributions from net
investment income |
(.18)
|
-
|
(.08)
|
(.10)
|
-
| |||||
Distributions from net
realized gain |
-
|
(1.55)
|
(.55)
|
(.25)
|
-
| |||||
Total distributions |
(.18)
|
(1.55)
|
(.63)
|
(.35)
|
-
| |||||
Net asset value, end of
period |
$ |
26.95 |
$ |
24.23 |
$ |
29.04 |
$ |
34.73 |
$ |
22.63 |
Total Return E,F,G |
12.02%
|
(11.46)%
|
(14.88)%
|
55.31%
|
18.60%
| |||||
Ratios to Average Net Assets D,H,I |
||||||||||
Expenses before reductions
|
.50%
J |
.86%
|
1.00%
|
1.01%
K |
1.01%
J,K | |||||
Expenses net of fee
waivers, if any |
.50%
J |
.86%
|
1.00%
|
1.01%
K |
1.01%
J,K | |||||
Expenses net of all
reductions |
.50%
J |
.86%
|
1.00%
|
1.01%
K |
1.01%
J,K | |||||
Net investment income
(loss) |
.57%
J |
.48%
|
.12%
|
.72%
|
1.99%
J | |||||
Supplemental Data |
||||||||||
Net assets, end of period
(000 omitted) |
$ |
41,626 |
$ |
40,820 |
$ |
18,486 |
$ |
48,219 |
$ |
2,373 |
Portfolio turnover rate
L |
20%
J,M |
22%
|
43%
|
18%
|
-%
N |
Top
Holdings (% of Fund's net
assets) | ||
Boston
Scientific Corp. |
5.5 |
|
UnitedHealth
Group, Inc. |
5.2 |
|
Centene
Corp. |
3.9 |
|
Danaher
Corp. |
3.6 |
|
Vertex
Pharmaceuticals, Inc. |
3.3 |
|
Penumbra,
Inc. |
3.0 |
|
Bruker
Corp. |
3.0 |
|
Argenx
SE ADR |
3.0 |
|
Alnylam
Pharmaceuticals, Inc. |
3.0 |
|
Royalty
Pharma PLC |
3.0 |
|
36.5 |
||
Market
Sectors (% of Fund's net assets) | ||
Health
Care |
98.4 |
|
Asset
Allocation (% of Fund's net assets)
|
![]() |
Common
Stocks - 98.4% | |||
Shares |
Value
($)
| ||
HEALTH
CARE - 98.4% |
|||
Biotechnology
- 27.5% |
|||
Alnylam
Pharmaceuticals, Inc. (a) |
8,061 |
1,356,263 | |
ALX
Oncology Holdings, Inc. (a) |
16,876 |
132,308 | |
Arcellx,
Inc. (a) |
9,164 |
481,385 | |
Argenx
SE ADR (a) |
3,016 |
1,359,040 | |
Arrowhead
Pharmaceuticals, Inc. (a) |
6,311 |
133,793 | |
Ascendis
Pharma A/S sponsored ADR (a) |
3,865 |
388,162 | |
Beam
Therapeutics, Inc. (a)(b) |
3,873 |
108,754 | |
Cytokinetics,
Inc. (a) |
15,335 |
513,416 | |
Exact
Sciences Corp. (a) |
9,330 |
597,120 | |
Icosavax,
Inc. (a) |
24,621 |
249,165 | |
Intellia
Therapeutics, Inc. (a) |
2,450 |
72,594 | |
Janux
Therapeutics, Inc. (a) |
14,042 |
122,587 | |
Keros
Therapeutics, Inc. (a) |
5,273 |
159,983 | |
Legend
Biotech Corp. ADR (a) |
11,059 |
672,608 | |
Moonlake
Immunotherapeutics (a)(b) |
3,889 |
170,766 | |
Natera,
Inc. (a) |
4,827 |
270,071 | |
Oxford
BioMedica PLC (a) |
105,735 |
222,653 | |
RayzeBio,
Inc. |
9,200 |
219,696 | |
Regeneron
Pharmaceuticals, Inc. (a) |
1,343 |
1,106,377 | |
Repligen
Corp. (a)(b) |
5,625 |
884,531 | |
Sarepta
Therapeutics, Inc. (a) |
5,031 |
408,920 | |
Tyra
Biosciences, Inc. (a) |
8,307 |
97,275 | |
Vaxcyte,
Inc. (a) |
8,985 |
465,153 | |
Vertex
Pharmaceuticals, Inc. (a) |
4,241 |
1,504,749 | |
Verve
Therapeutics, Inc. (a)(b) |
7,619 |
85,942 | |
Xenon
Pharmaceuticals, Inc. (a) |
6,169 |
225,662 | |
Zai
Lab Ltd. ADR (a)(b) |
18,315 |
499,816 | |
Zentalis
Pharmaceuticals, Inc. (a) |
7,282 |
81,923 | |
12,590,712 | |||
Health
Care Equipment & Supplies - 27.3% |
|||
Align
Technology, Inc. (a) |
1,045 |
223,421 | |
Boston
Scientific Corp. (a) |
45,279 |
2,530,642 | |
DexCom,
Inc. (a) |
7,307 |
844,105 | |
Glaukos
Corp. (a) |
8,600 |
549,454 | |
ICU
Medical, Inc. (a) |
4,278 |
375,437 | |
Inspire
Medical Systems, Inc. (a) |
2,424 |
352,231 | |
Insulet
Corp. (a) |
6,434 |
1,216,605 | |
Intuitive
Surgical, Inc. (a) |
3,850 |
1,196,734 | |
iRhythm
Technologies, Inc. (a) |
4,403 |
375,488 | |
Masimo
Corp. (a) |
12,788 |
1,199,003 | |
Nevro
Corp. (a) |
11,624 |
201,328 | |
Penumbra,
Inc. (a) |
6,186 |
1,373,849 | |
ResMed,
Inc. |
4,344 |
685,179 | |
Stryker
Corp. |
3,887 |
1,151,835 | |
Tandem
Diabetes Care, Inc. (a) |
11,178 |
226,243 | |
12,501,554 | |||
Health
Care Providers & Services - 16.2% |
|||
agilon
health, Inc. (a) |
49,094 |
521,378 | |
Centene
Corp. (a) |
24,261 |
1,787,550 | |
Guardant
Health, Inc. (a) |
12,326 |
310,245 | |
Humana,
Inc. |
2,276 |
1,103,541 | |
LifeStance
Health Group, Inc. (a) |
125,761 |
863,978 | |
Privia
Health Group, Inc. (a) |
21,746 |
449,272 | |
UnitedHealth
Group, Inc. |
4,288 |
2,371,135 | |
7,407,099 | |||
Health
Care Technology - 3.9% |
|||
Doximity,
Inc. (a) |
8,273 |
192,347 | |
Evolent
Health, Inc. (a) |
15,428 |
428,898 | |
Phreesia,
Inc. (a) |
18,034 |
277,904 | |
Veeva
Systems, Inc. Class A (a) |
5,181 |
903,100 | |
1,802,249 | |||
Life
Sciences Tools & Services - 16.5% |
|||
10X
Genomics, Inc. (a) |
21,048 |
916,009 | |
Bio-Techne
Corp. |
12,588 |
791,785 | |
Bruker
Corp. |
21,063 |
1,370,991 | |
Danaher
Corp. |
7,509 |
1,676,835 | |
Lonza
Group AG |
613 |
236,884 | |
Sartorius
Stedim Biotech |
2,996 |
673,101 | |
Thermo
Fisher Scientific, Inc. |
1,907 |
945,414 | |
West
Pharmaceutical Services, Inc. |
2,720 |
954,067 | |
7,565,086 | |||
Pharmaceuticals
- 7.0% |
|||
Edgewise
Therapeutics, Inc. (a)(b) |
23,957 |
145,659 | |
Eli
Lilly & Co. |
1,513 |
894,244 | |
Novo
Nordisk A/S Series B sponsored ADR |
4,100 |
417,544 | |
Royalty
Pharma PLC |
50,097 |
1,356,126 | |
Structure
Therapeutics, Inc. ADR |
6,800 |
378,692 | |
3,192,265 | |||
TOTAL
COMMON STOCKS
(Cost
$46,195,046) |
45,058,965 | ||
Money
Market Funds - 4.5% | |||
Shares |
Value
($)
| ||
Fidelity
Cash Central Fund 5.40% (c) |
723,065 |
723,210 | |
Fidelity
Securities Lending Cash Central Fund 5.39% (c)(d) |
1,331,692 |
1,331,825 | |
TOTAL
MONEY MARKET FUNDS
(Cost
$2,055,035) |
2,055,035 | ||
TOTAL
INVESTMENT IN SECURITIES - 102.9%
(Cost
$48,250,081)
|
47,114,000 |
NET
OTHER ASSETS (LIABILITIES) - (2.9)% |
(1,344,841) |
NET
ASSETS - 100.0% |
45,769,159 |
(a) |
Non-income
producing
|
(b) |
Security
or a portion of the security is on loan at period end.
|
(c) |
Affiliated
fund that is generally available only to investment companies and other
accounts managed by Fidelity Investments. The rate quoted is the
annualized seven-day yield of the fund at period end. A complete unaudited
listing of the fund's holdings as of its most recent quarter end is
available upon request. In addition, each Fidelity Central Fund's
financial statements are available on the SEC's website or upon
request.
|
(d) |
Investment
made with cash collateral received from securities on loan.
|
Affiliate
|
Value,
beginning
of
period ($) |
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 5.40% |
- |
4,837,023 |
4,113,813 |
13,320 |
- |
- |
723,210 |
0.0% |
Fidelity
Securities Lending Cash Central Fund 5.39% |
461,500 |
8,702,827 |
7,832,502 |
1,602 |
- |
- |
1,331,825 |
0.0% |
Total |
461,500 |
13,539,850 |
11,946,315 |
14,922 |
- |
- |
2,055,035 |
|
Valuation
Inputs at Reporting Date: | ||||
Description |
Total
($) |
Level
1 ($) |
Level
2 ($) |
Level
3 ($) |
Investments
in Securities: |
||||
Equities: |
||||
Health
Care |
45,058,965 |
45,058,965 |
- |
- |
Money Market
Funds |
2,055,035 |
2,055,035 |
- |
- |
Total Investments in Securities: |
47,114,000 |
47,114,000 |
- |
- |
Statement
of Assets and Liabilities | ||||
November
30, 2023
(Unaudited) | ||||
Assets
|
||||
Investment
in securities, at value (including securities loaned of $1,292,763) - See accompanying
schedule: |
||||
Unaffiliated issuers (cost
$46,195,046) |
$ |
45,058,965 |
||
Fidelity Central Funds (cost
$2,055,035) |
2,055,035 |
|||
Total
Investment in Securities (cost $48,250,081) |
$ |
47,114,000 | ||
Dividends
receivable |
32,342 | |||
Distributions
receivable from Fidelity Central Funds |
3,744 | |||
Total assets |
47,150,086 | |||
Liabilities |
||||
Payable
for investments purchased |
$ |
30,487 |
||
Accrued
management fee |
18,613 |
|||
Other
payables and accrued expenses |
2 |
|||
Collateral
on securities loaned |
1,331,825 |
|||
Total
Liabilities |
1,380,927 | |||
Net
Assets |
$ |
45,769,159 | ||
Net
Assets consist of: |
||||
Paid
in capital |
$ |
58,069,873 | ||
Total
accumulated earnings (loss) |
(12,300,714) | |||
Net
Assets |
$ |
45,769,159 | ||
Net
Asset Value,
offering price and redemption price per share ($45,769,159 ÷ 2,123,806
shares) |
$ |
21.55 |
Statement
of Operations | ||||
Six
months ended
November
30, 2023
(Unaudited) | ||||
Investment
Income |
||||
Dividends
|
$ |
63,296 | ||
Income
from Fidelity Central Funds (including $1,602 from security lending)
|
14,922 | |||
Total Income |
78,218 | |||
Expenses |
||||
Management
fee |
$ |
108,709 |
||
Independent
trustees' fees and expenses |
115 |
|||
Total expenses before reductions |
108,824 |
|||
Expense reductions |
(133) |
|||
Total expenses after reductions |
108,691 | |||
Net
Investment income (loss) |
(30,473) | |||
Realized
and Unrealized Gain (Loss) |
||||
Net
realized gain (loss) on: |
||||
Investment Securities: |
||||
Unaffiliated issuers |
(1,703,599) |
|||
Redemptions in-kind |
654,546 |
|||
Foreign currency transactions |
(7,829) |
|||
Total
net realized gain (loss) |
(1,056,882) | |||
Change
in net unrealized appreciation (depreciation) on: |
||||
Investment Securities: |
||||
Unaffiliated issuers |
(4,192,730) |
|||
Assets and liabilities in foreign
currencies |
7,030 |
|||
Total
change in net unrealized appreciation (depreciation) |
(4,185,700) | |||
Net
gain (loss) |
(5,242,582) | |||
Net
increase (decrease) in net assets resulting from
operations |
$ |
(5,273,055) |
Statement
of Changes in Net Assets | ||||
Six
months ended
November
30, 2023
(Unaudited) |
Year
ended
May
31, 2023 | |||
Increase
(Decrease) in Net Assets |
||||
Operations |
||||
Net
investment income (loss) |
$ |
(30,473) |
$ |
(65,769) |
Net
realized gain (loss) |
(1,056,882)
|
(6,730,978)
| ||
Change
in net unrealized appreciation (depreciation) |
(4,185,700) |
11,521,551
| ||
Net
increase (decrease) in net assets resulting from
operations |
(5,273,055)
|
4,724,804
| ||
Share
transactions - net increase (decrease) |
-
|
(13,925,552)
| ||
Share
transactions |
||||
Proceeds
from sales of shares |
10,797,368 |
- | ||
Cost
of shares redeemed |
(2,952,019) |
- | ||
Net increase (decrease) in net assets resulting from share
transactions |
7,845,349
|
(13,925,552)
| ||
Total
increase (decrease) in net assets |
2,572,294
|
(9,200,748)
| ||
Net
Assets |
||||
Beginning
of period |
43,196,865 |
52,397,613
| ||
End
of period |
$ |
45,769,159 |
$ |
43,196,865 |
Other
Information |
||||
Shares |
||||
Sold |
500,368 |
2,183,358 | ||
Redeemed |
(149,500) |
(2,768,145) | ||
Net
increase (decrease) |
350,868 |
(584,787) | ||
Fidelity®
Disruptive Medicine ETF |
Six
months ended
(Unaudited)
November 30, 2023
A |
Years
ended May 31, 2023 A |
2022 A
|
2021 A |
2020 A,B | ||||||
Selected Per-Share
Data |
||||||||||
Net asset value, beginning
of period |
$ |
24.36 |
$ |
22.08 |
$ |
28.82 |
$ |
24.52 |
$ |
22.17 |
Income from Investment
Operations |
||||||||||
Net investment income (loss) C,D |
(.02)
|
(.11)
|
(.20)
|
(.16)
|
(.02)
| |||||
Net realized and unrealized gain (loss)
|
(2.79)
|
2.39
|
(6.25)
|
4.66
|
2.37
| |||||
Total from investment
operations |
(2.81)
|
2.28
|
(6.45)
|
4.50
|
2.35
| |||||
Distributions from net
realized gain |
-
|
-
|
(.29)
|
(.20)
|
-
| |||||
Total distributions |
-
|
-
|
(.29)
|
(.20)
|
-
| |||||
Net asset value, end of
period |
$ |
21.55 |
$ |
24.36 |
$ |
22.08 |
$ |
28.82 |
$ |
24.52 |
Total Return E,F,G |
(11.53)%
|
10.34%
|
(22.68)%
|
18.44%
|
10.60%
| |||||
Ratios to Average Net Assets D,H,I |
||||||||||
Expenses before reductions
|
.50%
J |
.84%
|
1.00%
|
1.01%
K |
1.01%
J,K | |||||
Expenses net of fee
waivers, if any |
.50%
J |
.84%
|
1.00%
|
1.01%
K |
1.01%
J,K | |||||
Expenses net of all
reductions |
.50%
J |
.84%
|
1.00%
|
1.01%
K |
1.01%
J,K | |||||
Net investment income
(loss) |
(.14)%
J |
(.51)%
|
(.70)%
|
(.58)%
|
(.75)%
J | |||||
Supplemental Data |
||||||||||
Net assets, end of period
(000 omitted) |
$ |
45,769 |
$ |
43,197 |
$ |
11,027 |
$ |
32,331 |
$ |
5,666 |
Portfolio turnover rate
L |
10%
J,M |
39%
|
47%
|
44%
|
-%
N,O |
Top
Holdings (% of Fund's net
assets) | ||
Adobe,
Inc. |
5.7 |
|
Salesforce,
Inc. |
5.5 |
|
NVIDIA
Corp. |
5.4 |
|
Microsoft
Corp. |
5.4 |
|
MongoDB,
Inc. Class A |
4.7 |
|
Taiwan
Semiconductor Manufacturing Co. Ltd. sponsored ADR |
4.4 |
|
Amazon.com,
Inc. |
3.8 |
|
Marvell
Technology, Inc. |
3.8 |
|
Alphabet,
Inc. Class C |
3.8 |
|
ASML
Holding NV (Netherlands) |
3.7 |
|
46.2 |
||
Market
Sectors (% of Fund's net assets) | ||
Information
Technology |
70.2 |
|
Communication
Services |
17.1 |
|
Consumer
Discretionary |
7.6 |
|
Financials |
3.5 |
|
Industrials |
1.2 |
|
Asset
Allocation (% of Fund's net assets)
|
![]() |
Geographic
Diversification (% of Fund's net assets)
|
![]() |
*
Includes Short-Term investments and Net Other Assets
(Liabilities).
Percentages
are adjusted for the effect of derivatives, if
applicable. |
Common
Stocks - 99.6% | |||
Shares |
Value
($)
| ||
COMMUNICATION
SERVICES - 17.1% |
|||
Entertainment
- 6.9% |
|||
Netflix,
Inc. (a) |
7,762 |
3,678,955 | |
Sea
Ltd. ADR (a) |
37,333 |
1,352,201 | |
Spotify
Technology SA (a) |
5,516 |
1,021,067 | |
Universal
Music Group NV |
38,091 |
1,005,040 | |
7,057,263 | |||
Interactive
Media & Services - 9.3% |
|||
Alphabet,
Inc. Class C (a) |
28,618 |
3,832,523 | |
Meta
Platforms, Inc. Class A (a) |
10,819 |
3,539,436 | |
Snap,
Inc. Class A (a) |
146,752 |
2,029,580 | |
9,401,539 | |||
Wireless
Telecommunication Services - 0.9% |
|||
T-Mobile
U.S., Inc. |
6,262 |
942,118 | |
TOTAL COMMUNICATION
SERVICES |
17,400,920 | ||
CONSUMER
DISCRETIONARY - 7.6% |
|||
Broadline
Retail - 6.3% |
|||
Amazon.com,
Inc. (a) |
26,433 |
3,861,597 | |
Global-e
Online Ltd. (a)(b) |
19,546 |
669,451 | |
PDD
Holdings, Inc. ADR (a) |
12,600 |
1,857,744 | |
6,388,792 | |||
Hotels,
Restaurants & Leisure - 0.7% |
|||
Airbnb,
Inc. Class A (a) |
5,381 |
679,836 | |
Specialty
Retail - 0.6% |
|||
ZOZO,
Inc. |
30,364 |
640,007 | |
TOTAL CONSUMER
DISCRETIONARY |
7,708,635 | ||
FINANCIALS
- 3.5% |
|||
Financial
Services - 3.5% |
|||
Adyen
BV (a)(c) |
2,130 |
2,483,119 | |
Block,
Inc. Class A (a) |
17,326 |
1,098,988 | |
3,582,107 | |||
INDUSTRIALS
- 1.2% |
|||
Ground
Transportation - 1.2% |
|||
Uber
Technologies, Inc. (a) |
21,050 |
1,186,799 | |
INFORMATION
TECHNOLOGY - 70.2% |
|||
Electronic
Equipment, Instruments & Components - 0.7% |
|||
Samsung
SDI Co. Ltd. |
1,960 |
711,713 | |
IT
Services - 9.0% |
|||
Accenture
PLC Class A |
4,278 |
1,425,173 | |
MongoDB,
Inc. Class A (a) |
11,545 |
4,799,718 | |
Shopify,
Inc. Class A (a) |
22,028 |
1,604,079 | |
Snowflake,
Inc. (a) |
7,272 |
1,364,809 | |
9,193,779 | |||
Semiconductors
& Semiconductor Equipment - 23.0% |
|||
Advantest
Corp. |
61,491 |
1,941,450 | |
ASML
Holding NV (Netherlands) |
5,536 |
3,754,158 | |
BE
Semiconductor Industries NV |
13,575 |
1,898,027 | |
Marvell
Technology, Inc. |
69,038 |
3,847,488 | |
Micron
Technology, Inc. |
16,600 |
1,263,592 | |
NVIDIA
Corp. |
11,873 |
5,553,002 | |
SolarEdge
Technologies, Inc. (a) |
8,877 |
704,656 | |
Taiwan
Semiconductor Manufacturing Co. Ltd. sponsored ADR |
45,576 |
4,435,001 | |
23,397,374 | |||
Software
- 35.0% |
|||
Adobe,
Inc. (a) |
9,471 |
5,786,876 | |
Atlassian
Corp. PLC (a) |
6,933 |
1,323,856 | |
Confluent,
Inc. (a) |
56,358 |
1,195,917 | |
Crowdstrike
Holdings, Inc. (a) |
6,922 |
1,640,445 | |
Datadog,
Inc. Class A (a) |
16,763 |
1,954,063 | |
HashiCorp,
Inc. (a) |
45,634 |
977,480 | |
HubSpot,
Inc. (a) |
3,498 |
1,727,767 | |
Intuit,
Inc. |
4,190 |
2,394,417 | |
Microsoft
Corp. |
14,496 |
5,492,679 | |
Palo
Alto Networks, Inc. (a) |
8,024 |
2,367,802 | |
Salesforce,
Inc. (a) |
22,370 |
5,635,003 | |
Synopsys,
Inc. (a) |
4,700 |
2,553,181 | |
Workday,
Inc. Class A (a) |
9,376 |
2,538,271 | |
35,587,757 | |||
Technology
Hardware, Storage & Peripherals - 2.5% |
|||
Apple,
Inc. |
7,672 |
1,457,296 | |
Samsung
Electronics Co. Ltd. |
20,450 |
1,145,332 | |
2,602,628 | |||
TOTAL INFORMATION
TECHNOLOGY |
71,493,251 | ||
TOTAL
COMMON STOCKS
(Cost
$89,822,476) |
101,371,712 | ||
Money
Market Funds - 0.8% | |||
Shares |
Value
($)
| ||
Fidelity
Cash Central Fund 5.40% (d) |
393,819 |
393,898 | |
Fidelity
Securities Lending Cash Central Fund 5.39% (d)(e) |
399,484 |
399,524 | |
TOTAL
MONEY MARKET FUNDS
(Cost
$793,422) |
793,422 | ||
TOTAL
INVESTMENT IN SECURITIES - 100.4%
(Cost
$90,615,898)
|
102,165,134 |
NET
OTHER ASSETS (LIABILITIES) - (0.4)% |
(375,849) |
NET
ASSETS - 100.0% |
101,789,285 |
(a) |
Non-income
producing
|
(b) |
Security
or a portion of the security is on loan at period end.
|
(c) |
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 $2,483,119 or 2.4%
of net assets.
|
(d) |
Affiliated
fund that is generally available only to investment companies and other
accounts managed by Fidelity Investments. The rate quoted is the
annualized seven-day yield of the fund at period end. A complete unaudited
listing of the fund's holdings as of its most recent quarter end is
available upon request. In addition, each Fidelity Central Fund's
financial statements are available on the SEC's website or upon
request.
|
(e) |
Investment
made with cash collateral received from securities on loan.
|
Affiliate
|
Value,
beginning
of
period ($) |
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 5.40% |
478,846 |
11,710,705 |
11,795,653 |
20,776 |
- |
- |
393,898 |
0.0% |
Fidelity
Securities Lending Cash Central Fund 5.39% |
3,121,750 |
7,343,557 |
10,065,783 |
1,150 |
- |
- |
399,524 |
0.0% |
Total |
3,600,596 |
19,054,262 |
21,861,436 |
21,926 |
- |
- |
793,422 |
|
Valuation
Inputs at Reporting Date: | ||||
Description |
Total
($) |
Level
1 ($) |
Level
2 ($) |
Level
3 ($) |
Investments
in Securities: |
||||
Equities: |
||||
Communication
Services |
17,400,920 |
17,400,920 |
- |
- |
Consumer
Discretionary |
7,708,635 |
7,708,635 |
- |
- |
Financials |
3,582,107 |
3,582,107 |
- |
- |
Industrials |
1,186,799 |
1,186,799 |
- |
- |
Information
Technology |
71,493,251 |
71,493,251 |
- |
- |
Money Market
Funds |
793,422 |
793,422 |
- |
- |
Total Investments in Securities: |
102,165,134 |
102,165,134 |
- |
- |
Statement
of Assets and Liabilities | ||||
November
30, 2023
(Unaudited) | ||||
Assets
|
||||
Investment
in securities, at value (including securities loaned of $388,190) - See accompanying
schedule: |
||||
Unaffiliated issuers (cost
$89,822,476) |
$ |
101,371,712 |
||
Fidelity Central Funds (cost
$793,422) |
793,422 |
|||
Total
Investment in Securities (cost $90,615,898) |
$ |
102,165,134 | ||
Cash |
27,937 | |||
Dividends
receivable |
33,977 | |||
Distributions
receivable from Fidelity Central Funds |
1,758 | |||
Total assets |
102,228,806 | |||
Liabilities |
||||
Accrued
management fee |
$ |
39,997 |
||
Collateral
on securities loaned |
399,524 |
|||
Total
Liabilities |
439,521 | |||
Net
Assets |
$ |
101,789,285 | ||
Net
Assets consist of: |
||||
Paid
in capital |
$ |
119,553,287 | ||
Total
accumulated earnings (loss) |
(17,764,002) | |||
Net
Assets |
$ |
101,789,285 | ||
Net
Asset Value,
offering price and redemption price per share ($101,789,285 ÷ 3,788,469
shares) |
$ |
26.87 |
Statement
of Operations | ||||
Six
months ended
November
30, 2023
(Unaudited) | ||||
Investment
Income |
||||
Dividends
|
$ |
131,959 | ||
Interest
|
68 | |||
Income
from Fidelity Central Funds (including $1,150 from security lending)
|
21,926 | |||
Total Income |
153,953 | |||
Expenses |
||||
Management
fee |
$ |
246,261 |
||
Independent
trustees' fees and expenses |
259 |
|||
Total expenses before reductions |
246,520 |
|||
Expense reductions |
(170) |
|||
Total expenses after reductions |
246,350 | |||
Net
Investment income (loss) |
(92,397) | |||
Realized
and Unrealized Gain (Loss) |
||||
Net
realized gain (loss) on: |
||||
Investment Securities: |
||||
Unaffiliated issuers |
(6,214,185) |
|||
Redemptions in-kind |
1,393,703 |
|||
Foreign currency transactions |
8,756 |
|||
Total
net realized gain (loss) |
(4,811,726) | |||
Change
in net unrealized appreciation (depreciation) on: |
||||
Investment Securities: |
||||
Unaffiliated issuers |
14,805,642 |
|||
Assets and liabilities in foreign
currencies |
5,608 |
|||
Total
change in net unrealized appreciation (depreciation) |
14,811,250 | |||
Net
gain (loss) |
9,999,524 | |||
Net
increase (decrease) in net assets resulting from
operations |
$ |
9,907,127 |
Statement
of Changes in Net Assets | ||||
Six
months ended
November
30, 2023
(Unaudited) |
Year
ended
May
31, 2023 | |||
Increase
(Decrease) in Net Assets |
||||
Operations |
||||
Net
investment income (loss) |
$ |
(92,397) |
$ |
(164,342) |
Net
realized gain (loss) |
(4,811,726)
|
(24,265,561)
| ||
Change
in net unrealized appreciation (depreciation) |
14,811,250 |
33,937,798
| ||
Net
increase (decrease) in net assets resulting from
operations |
9,907,127
|
9,507,895
| ||
Distributions
to shareholders |
-
|
(1,210,975)
| ||
Share
transactions - net increase (decrease) |
-
|
(12,866,094)
| ||
Share
transactions |
||||
Proceeds
from sales of shares |
1,190,118 |
- | ||
Cost
of shares redeemed |
(10,852,977) |
- | ||
Net increase (decrease) in net assets resulting from share
transactions |
(9,662,859)
|
(12,866,094)
| ||
Total
increase (decrease) in net assets |
244,268
|
(4,569,174)
| ||
Net
Assets |
||||
Beginning
of period |
101,545,017 |
106,114,191
| ||
End
of period |
$ |
101,789,285 |
$ |
101,545,017 |
Other
Information |
||||
Shares |
||||
Sold |
48,177 |
5,396,940 | ||
Issued in reinvestment of
distributions |
-
|
55,606
| ||
Redeemed |
(434,792) |
(6,149,268) | ||
Net
increase (decrease) |
(386,615) |
(696,722) | ||
Fidelity®
Disruptive Technology ETF |
Six
months ended
(Unaudited)
November 30, 2023
A |
Years
ended May 31, 2023 A |
2022 A
|
2021 A |
2020 A,B | ||||||
Selected Per-Share
Data |
||||||||||
Net asset value, beginning
of period |
$ |
24.32 |
$ |
21.70 |
$ |
33.25 |
$ |
21.11 |
$ |
18.37 |
Income from Investment
Operations |
||||||||||
Net investment income (loss) C,D |
(.02)
|
(.09)
|
(.26)
|
(.24)
|
(.02)
| |||||
Net realized and unrealized gain (loss)
|
2.57
|
2.97
|
(10.79)
|
12.51
|
2.76
| |||||
Total from investment
operations |
2.55
|
2.88
|
(11.05)
|
12.27
|
2.74
| |||||
Distributions from net
realized gain |
-
|
(.26)
|
(.50)
E |
(.13)
|
-
| |||||
Total distributions |
-
|
(.26)
|
(.50)
|
(.13)
|
-
| |||||
Net asset value, end of
period |
$ |
26.87 |
$ |
24.32 |
$ |
21.70 |
$ |
33.25 |
$ |
21.11 |
Total Return F,G,H |
10.46%
|
13.45%
|
(33.85)%
|
58.13%
|
14.90%
| |||||
Ratios to Average Net Assets D,I,J |
||||||||||
Expenses before reductions
|
.50%
K |
.87%
|
.99%
|
1.01%
E |
1.01%
E,K | |||||
Expenses net of fee
waivers, if any |
.50%
K |
.87%
|
.99%
E |
1.01%
E |
1.01%
E,K | |||||
Expenses net of all
reductions |
.50%
K |
.87%
|
.99%
E |
1.01%
E |
1.01%
E,K | |||||
Net investment income
(loss) |
(.19)%
K |
(.42)%
|
(.78)%
|
(.77)%
|
(.62)%
K | |||||
Supplemental Data |
||||||||||
Net assets, end of period
(000 omitted) |
$ |
101,789 |
$ |
101,545 |
$ |
34,802 |
$ |
130,244 |
$ |
6,198 |
Portfolio turnover rate
L |
19%
K,M |
28%
|
33%
|
29%
|
-%
N,O |
Current
ETFs |
Former
Mutual Funds (Predecessor Funds) |
Fidelity
Disruptive Automation ETF |
Fidelity
Disruptive Automation Fund |
Fidelity
Disruptive Communications ETF |
Fidelity
Disruptive Communications Fund |
Fidelity
Disruptive Finance ETF |
Fidelity
Disruptive Finance Fund |
Fidelity
Disruptive Medicine ETF |
Fidelity
Disruptive Medicine Fund |
Fidelity
Disruptive Technology ETF |
Fidelity
Disruptive Technology Fund |
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
Disruptive Automation ETF |
$104,655,483 |
$17,348,248 |
$(14,749,075) |
$2,599,173 |
Fidelity
Disruptive Communications ETF |
36,873,006 |
10,987,284 |
(8,668,439) |
2,318,845 |
Fidelity
Disruptive Finance ETF |
40,053,972 |
7,712,994 |
(5,706,286) |
2,006,708 |
Fidelity
Disruptive Medicine ETF |
48,323,525 |
6,907,098 |
(8,116,623) |
(1,209,525) |
Fidelity
Disruptive Technology ETF |
92,111,225 |
25,321,900 |
(15,267,991) |
10,053,909 |
|
Short-term |
Long-term |
Total
capital loss carryforward |
Fidelity
Disruptive Automation Fund |
$(2,580,613) |
$(4,788,003) |
$(7,368,616) |
Fidelity
Disruptive Communications Fund |
(4,856,673) |
(4,392,633) |
(9,249,306) |
Fidelity
Disruptive Finance Fund |
(4,448,700) |
(2,134,278) |
(6,582,978) |
Fidelity
Disruptive Medicine Fund |
(6,685,546) |
(3,174,906) |
(9,860,452) |
Fidelity
Disruptive Technology Fund |
(3,935,299) |
(18,903,217) |
(22,838,516) |
|
Purchases
($) |
Sales
($) |
Fidelity
Disruptive Automation ETF |
37,544,124 |
33,596,392 |
Fidelity
Disruptive Communications ETF |
6,843,293 |
5,445,911 |
Fidelity
Disruptive Finance ETF |
9,934,218 |
7,026,590 |
Fidelity
Disruptive Medicine ETF |
7,006,982 |
3,408,381 |
Fidelity
Disruptive Technology ETF |
15,500,992 |
15,267,380 |
|
In-Kind
Subscriptions ($) |
In-Kind
Redemptions ($) |
Fidelity
Disruptive Automation ETF |
3,597,594 |
7,126,337 |
Fidelity
Disruptive Communications ETF |
- |
3,895,711 |
Fidelity
Disruptive Finance ETF |
- |
4,841,021 |
Fidelity
Disruptive Medicine ETF |
7,607,367 |
2,474,632 |
Fidelity
Disruptive Technology ETF |
- |
4,587,682 |
|
Shares |
Total
net realized gain or loss
($) |
Total
Proceeds
($) |
Fidelity
Disruptive Automation Fund |
210,398 |
2,526,540 |
4,955,947 |
|
Fee
Rate |
Fidelity
Disruptive Automation ETF |
.50% |
Fidelity
Disruptive Communications ETF |
.50% |
Fidelity
Disruptive Finance ETF |
.50% |
Fidelity
Disruptive Medicine ETF |
.50% |
Fidelity
Disruptive Technology ETF |
.50% |
|
Management
Fee Annual % of Average Net Assets |
Expense
Contract Annual % of Average Net Assets |
Fidelity
Disruptive Automation Fund |
1.00% |
.50% |
Fidelity
Disruptive Communications Fund |
1.00% |
.50% |
Fidelity
Disruptive Finance Fund |
1.00% |
.50% |
Fidelity
Disruptive Medicine Fund |
1.00% |
.50% |
Fidelity
Disruptive Technology Fund |
1.00% |
.50% |
|
Amount |
Fidelity
Disruptive Automation ETF |
$128 |
Fidelity
Disruptive Communications ETF |
71 |
Fidelity
Disruptive Finance ETF |
71 |
Fidelity
Disruptive Medicine ETF |
193 |
Fidelity
Disruptive Technology ETF |
81 |
|
Borrower
or Lender |
Average
Loan Balance |
Weighted
Average Interest Rate |
Interest
Expense |
Fidelity
Disruptive Automation ETF |
Borrower |
$ 5,516,000 |
5.32% |
$814 |
|
Purchases
($) |
Sales
($) |
Realized
Gain (Loss) ($) |
Fidelity
Disruptive Automation ETF |
1,038,847 |
1,075,914 |
253,185 |
Fidelity
Disruptive Communications ETF |
11,648 |
474,253 |
175,908 |
Fidelity
Disruptive Finance ETF |
1,955,770 |
1,402,362 |
812,533 |
Fidelity
Disruptive Medicine ETF |
283,263 |
35,656 |
(15,544) |
Fidelity
Disruptive Technology ETF |
1,335,652 |
166,170 |
(563,289) |
|
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
Disruptive Automation ETF |
$5,118 |
$4,521 |
$63,456 |
Fidelity
Disruptive Communications ETF |
$26 |
$- |
$- |
Fidelity
Disruptive Finance ETF |
$271 |
$- |
$- |
Fidelity
Disruptive Medicine ETF |
$123 |
$- |
$- |
Fidelity
Disruptive Technology ETF |
$80 |
$- |
$- |
|
Custodian
credits |
Fidelity
Disruptive Automation ETF |
$102 |
Fidelity
Disruptive Communications ETF |
110 |
Fidelity
Disruptive Finance ETF |
103 |
Fidelity
Disruptive Medicine ETF |
133 |
Fidelity
Disruptive Technology ETF |
170 |
|
Year
ended
May
31, 2023 |
Fidelity
Disruptive Automation Fund |
|
Distributions
to shareholders |
|
Fidelity
Disruptive Automation Fund |
$- |
Loyalty
Class 1 |
70,285 |
Loyalty
Class 2 |
370 |
Class
F |
112,219 |
Total |
$182,874 |
Fidelity
Disruptive Finance Fund |
|
Distributions
to shareholders |
|
Fidelity
Disruptive Finance Fund |
$889,399 |
Loyalty
Class 1 |
1,176,792 |
Loyalty
Class 2 |
9,204 |
Class
F |
1,565,582 |
Total |
$3,640,977 |
Fidelity
Disruptive Technology Fund |
|
Distributions
to shareholders |
|
Fidelity
Disruptive Technology Fund |
$403,963 |
Loyalty
Class 1 |
534,280 |
Loyalty
Class 2 |
1,388 |
Class
F |
271,344 |
Total |
$1,210,975 |
|
Shares |
Dollars |
|
Year
ended
May
31, 2023 |
Year
ended
May
31, 2023 |
Fidelity
Disruptive Automation Fund |
|
|
Fidelity
Disruptive Automation Fund |
|
|
Shares
sold |
4,549,471 |
$106,491,639 |
Reinvestment
of distributions |
- |
- |
Shares
redeemed |
(1,670,230) |
(35,221,801) |
Net
increase (decrease) |
2,879,241 |
$71,269,838 |
Loyalty
Class 1 |
|
|
Shares
sold |
687,455 |
$14,592,727 |
Reinvestment
of distributions |
3,054 |
65,051 |
Shares
redeemed |
(3,399,293) |
(78,288,179) |
Net
increase (decrease) |
(2,708,784) |
$(63,630,401) |
Loyalty
Class 2 |
|
|
Shares
sold |
831 |
$17,906 |
Reinvestment
of distributions |
17 |
370 |
Shares
redeemed |
(7,730) |
(180,614) |
Net
increase (decrease) |
(6,882) |
$(162,338) |
Class
F |
|
|
Shares
sold |
23,191 |
$512,114 |
Reinvestment
of distributions |
5,221 |
112,219 |
Shares
redeemed |
(1,220,183) |
(27,936,611) |
Net
increase (decrease) |
(1,191,771) |
$(27,312,278) |
Fidelity
Disruptive Communications Fund |
|
|
Fidelity
Disruptive Communications Fund |
|
|
Shares
sold |
1,574,930 |
$36,001,186 |
Reinvestment
of distributions |
- |
- |
Shares
redeemed |
(352,668) |
(7,507,221) |
Net
increase (decrease) |
1,222,262 |
$28,493,965 |
Loyalty
Class 1 |
|
|
Shares
sold |
118,546 |
$2,583,699 |
Reinvestment
of distributions |
- |
- |
Shares
redeemed |
(741,539) |
(16,870,638) |
Net
increase (decrease) |
(622,993) |
$(14,286,939) |
Loyalty
Class 2 |
|
|
Shares
sold |
234 |
$5,415 |
Reinvestment
of distributions |
- |
- |
Shares
redeemed |
(5,580) |
(129,686) |
Net
increase (decrease) |
(5,346) |
$(124,271) |
Class
F |
|
|
Shares
sold |
110,136 |
$2,260,556 |
Reinvestment
of distributions |
- |
- |
Shares
redeemed |
(1,165,781) |
(26,314,710) |
Net
increase (decrease) |
(1,055,645) |
$(24,054,154) |
Fidelity
Disruptive Finance Fund |
|
|
Fidelity
Disruptive Finance Fund |
|
|
Shares
sold |
1,667,868 |
$41,586,096 |
Reinvestment
of distributions |
33,977 |
860,296 |
Shares
redeemed |
(653,573) |
(16,387,983) |
Net
increase (decrease) |
1,048,272 |
$26,058,409 |
Loyalty
Class 1 |
|
|
Shares
sold |
262,880 |
$6,806,499 |
Reinvestment
of distributions |
41,011 |
1,037,086 |
Shares
redeemed |
(1,019,650) |
(25,336,391) |
Net
increase (decrease) |
(715,759) |
$(17,492,806) |
Loyalty
Class 2 |
|
|
Shares
sold |
653 |
$17,290 |
Reinvestment
of distributions |
362 |
9,204 |
Shares
redeemed |
(6,443) |
(160,502) |
Net
increase (decrease) |
(5,428) |
$(134,008) |
Class
F |
|
|
Shares
sold |
124,045 |
$3,122,008 |
Reinvestment
of distributions |
61,525 |
1,565,581 |
Shares
redeemed |
(1,068,546) |
(26,918,970) |
Net
increase (decrease) |
(882,976) |
$(22,231,381) |
Fidelity
Disruptive Medicine Fund |
|
|
Fidelity
Disruptive Medicine Fund |
|
|
Shares
sold |
1,872,264 |
$47,165,060 |
Reinvestment
of distributions |
- |
- |
Shares
redeemed |
(598,763) |
(13,951,368) |
Net
increase (decrease) |
1,273,501 |
$33,213,692 |
Loyalty
Class 1 |
|
|
Shares
sold |
219,552 |
$5,140,188 |
Reinvestment
of distributions |
- |
- |
Shares
redeemed |
(976,902) |
(24,624,657) |
Net
increase (decrease) |
(757,350) |
$(19,484,469) |
Loyalty
Class 2 |
|
|
Shares
sold |
69 |
$1,704 |
Reinvestment
of distributions |
- |
- |
Shares
redeemed |
(4,672) |
(120,139) |
Net
increase (decrease) |
(4,603) |
$(118,435) |
Class
F |
|
|
Shares
sold |
91,473 |
$2,265,715 |
Reinvestment
of distributions |
- |
- |
Shares
redeemed |
(1,187,808) |
(29,802,055) |
Net
increase (decrease) |
(1,096,335) |
$(27,536,340) |
Fidelity
Disruptive Technology Fund |
|
|
Fidelity
Disruptive Technology Fund |
|
|
Shares
sold |
4,693,753 |
$100,997,985 |
Reinvestment
of distributions |
18,804 |
392,082 |
Shares
redeemed |
(2,141,414) |
(42,810,625) |
Net
increase (decrease) |
2,571,143 |
$58,579,442 |
Loyalty
Class 1 |
|
|
Shares
sold |
577,993 |
$11,797,211 |
Reinvestment
of distributions |
23,915 |
499,555 |
Shares
redeemed |
(2,750,511) |
(59,530,327) |
Net
increase (decrease) |
(2,148,603) |
$(47,233,561) |
Loyalty
Class 2 |
|
|
Shares
sold |
62 |
$1,295 |
Reinvestment
of distributions |
66 |
1,388 |
Shares
redeemed |
(5,683) |
(125,896) |
Net
increase (decrease) |
(5,555) |
$(123,213) |
Class
F |
|
|
Shares
sold |
125,132 |
$2,389,168 |
Reinvestment
of distributions |
12,821 |
271,344 |
Shares
redeemed |
(1,251,660) |
(26,749,274) |
Net
increase (decrease) |
(1,113,707) |
$(24,088,762) |
Predecessor
Funds |
New
ETFs |
Fidelity
Disruptive Automation Fund |
Fidelity
Disruptive Automation ETF |
Fidelity
Disruptive Communications Fund |
Fidelity
Disruptive Communications ETF |
Fidelity
Disruptive Finance Fund |
Fidelity
Disruptive Finance ETF |
Fidelity
Disruptive Medicine Fund |
Fidelity
Disruptive Medicine ETF |
Fidelity
Disruptive Technology Fund |
Fidelity
Disruptive Technology ETF |
Predecessor
Fund/Accounting Survivor |
Investments
($) |
Unrealized
appreciation (depreciation) ($) |
Net
Assets ($) |
Shares
Exchanged |
Shares
Exchanged Ratio |
|
|
|
|
|
|
Fidelity
Disruptive Automation Fund |
111,001,230 |
9,648,810 |
111,488,793 |
4,459,561 |
.6686440000 |
Fidelity
Disruptive Communications Fund |
38,182,670 |
416,225 |
38,176,192 |
1,527,044 |
.4988520000 |
Fidelity
Disruptive Finance Fund |
41,565,870 |
1,661,222 |
41,616,228 |
1,664,653 |
.5240880000 |
Fidelity
Disruptive Medicine Fund |
43,523,861 |
4,291,008 |
43,537,456 |
1,741,504 |
.4511440000 |
Fidelity
Disruptive Technology Fund |
102,251,358 |
1,677,809 |
102,438,029 |
4,097,527 |
.5443240000 |
Legal
Acquiring ETF |
Net
Assets ($) |
Total
net assets after the acquisition ($) |
|
|
|
Fidelity
Disruptive Automation ETF |
25 |
111,488,818 |
Fidelity
Disruptive Communications ETF |
25 |
38,176,217 |
Fidelity
Disruptive Finance ETF |
25 |
41,616,253 |
Fidelity
Disruptive Medicine ETF |
25 |
43,537,481 |
Fidelity
Disruptive Technology ETF |
25 |
102,438,054 |
ETF
name |
Net
investment income (loss) |
Total
net realized gain (loss) |
Total
change in net unrealized appreciation (depreciation) |
Net
increase (decrease) in net assets resulting from
operations |
|
|
|
|
|
Fidelity
Disruptive Automation ETF |
223,453 |
64,361 |
(5,080,071) |
(4,792,257) |
Fidelity
Disruptive Communications ETF |
(39,233) |
1,468,593 |
3,405,673 |
4,835,033 |
Fidelity
Disruptive Finance ETF |
119,138 |
2,156,666 |
2,195,929 |
4,471,733 |
Fidelity
Disruptive Medicine ETF |
(30,380) |
(1,056,882) |
(4,185,700) |
(5,272,962) |
Fidelity
Disruptive Technology ETF |
(91,919) |
(4,811,726) |
14,811,250 |
9,907,605 |
The
Example is based on an investment of $1,000 invested at the beginning of
the period and held for the entire period (June 1, 2023 to November 30,
2023). |
Annualized
Expense Ratio-
A |
Beginning
Account Value June 1, 2023 |
Ending
Account Value November 30, 2023 |
Expenses
Paid During Period- C
June 1, 2023 to November 30, 2023 | |||||||
Fidelity®
Disruptive Automation ETF |
.50% |
|||||||||
Actual |
$
1,000 |
$
964.80 |
$
2.35 | |||||||
Hypothetical-B |
$
1,000 |
$
1,022.50 |
$
2.53 | |||||||
Fidelity®
Disruptive Communications ETF |
.50% |
|||||||||
Actual |
$
1,000 |
$
1,133.90 |
$
2.55 | |||||||
Hypothetical-B |
$
1,000 |
$
1,022.50 |
$
2.53 | |||||||
Fidelity®
Disruptive Finance ETF |
.50% |
|||||||||
Actual |
$
1,000 |
$
1,120.20 |
$
2.53 | |||||||
Hypothetical-B |
$
1,000 |
$
1,022.50 |
$
2.53 | |||||||
Fidelity®
Disruptive Medicine ETF |
.50% |
|||||||||
Actual |
$
1,000 |
$
884.70 |
$
2.25 | |||||||
Hypothetical-B |
$
1,000 |
$
1,022.50 |
$
2.53 | |||||||
Fidelity®
Disruptive Technology ETF |
.50% |
|||||||||
Actual |
$
1,000 |
$
1,104.60 |
$
2.52 | |||||||
Hypothetical-B |
$
1,000 |
$
1,022.50 |
$
2.53 | |||||||
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