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Fidelity® Blue Chip Growth ETF

Investment Summary January 31, 2023 (Unaudited)

Top Holdings (% of Fund's net assets)

Apple, Inc.	10.0
Microsoft Corp.	8.6
Amazon.com, Inc.	7.5
NVIDIA Corp.	6.6
Alphabet, Inc. Class A	5.2
Tesla, Inc.	3.0
Meta Platforms, Inc. Class A	2.8
Marvell Technology, Inc.	2.7
Netflix, Inc.	2.2
Uber Technologies, Inc.	2.0
	50.6

Market Sectors (% of Fund's net assets)

Information Technology	39.4
Consumer Discretionary	28.3
Communication Services	12.7
Health Care	9.4
Energy	4.4
Industrials	1.7
Consumer Staples	1.2
Financials	1.0
Materials	0.7
Real Estate	0.1

Asset Allocation (% of Fund's net assets)

Foreign investments - 6.6%

Fidelity® Blue Chip Growth ETF

Schedule of Investments January 31, 2023 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 98.9%
	Shares	Value ($)
COMMUNICATION SERVICES - 12.7%
Entertainment - 2.9%
Activision Blizzard, Inc.	2,368	181,318
Bilibili, Inc. ADR (a)	6,048	151,200
Endeavor Group Holdings, Inc. (a)	16,534	370,858
Netflix, Inc. (a)	27,788	9,833,062
Sea Ltd. ADR (a)	37,248	2,400,634
		12,937,072
Interactive Media & Services - 9.7%
Alphabet, Inc. Class A (a)	235,951	23,321,397
Meta Platforms, Inc. Class A (a)	84,470	12,583,496
Pinterest, Inc. Class A (a)	7,721	202,985
Snap, Inc. Class A (a)	616,921	7,131,607
		43,239,485
Wireless Telecommunication Services - 0.1%
T-Mobile U.S., Inc. (a)	3,405	508,401
TOTAL COMMUNICATION SERVICES		56,684,958
CONSUMER DISCRETIONARY - 28.3%
Auto Components - 0.1%
Aptiv PLC (a)	3,229	365,168
Mobileye Global, Inc.	6,111	235,885
		601,053
Automobiles - 3.2%
Rivian Automotive, Inc. (a)	48,217	935,410
Tesla, Inc. (a)	76,106	13,183,081
		14,118,491
Diversified Consumer Services - 0.0%
New Oriental Education & Technology Group, Inc. sponsored ADR (a)	3,518	150,008
Hotels, Restaurants & Leisure - 3.5%
Airbnb, Inc. Class A (a)	39,980	4,442,178
Caesars Entertainment, Inc. (a)	48,940	2,547,816
Chipotle Mexican Grill, Inc. (a)	285	469,218
Hilton Worldwide Holdings, Inc.	8,605	1,248,499
Marriott International, Inc. Class A	14,914	2,597,721
Penn Entertainment, Inc. (a)	72,001	2,552,435
Restaurant Brands International, Inc.	4,859	325,126
Sweetgreen, Inc. Class A (a)	68,286	708,126
Trip.com Group Ltd. ADR (a)	9,837	361,608
Yum China Holdings, Inc.	4,214	259,625
Yum! Brands, Inc.	1,236	161,310
		15,673,662
Internet & Direct Marketing Retail - 11.4%
Alibaba Group Holding Ltd. sponsored ADR (a)	18,573	2,046,745
Amazon.com, Inc. (a)	324,220	33,436,809
JD.com, Inc. sponsored ADR	23,948	1,425,624
Lyft, Inc. (a)	210,887	3,426,914
Pinduoduo, Inc. ADR (a)	11,404	1,117,364
Uber Technologies, Inc. (a)	295,411	9,137,062
Wayfair LLC Class A (a)	6,810	412,005
		51,002,523
Multiline Retail - 1.1%
Dollar Tree, Inc. (a)	27,800	4,175,004
Ollie's Bargain Outlet Holdings, Inc. (a)	6,386	349,697
Target Corp.	1,180	203,125
		4,727,826
Specialty Retail - 5.0%
American Eagle Outfitters, Inc.	142,224	2,295,495
Bath & Body Works, Inc.	5,260	242,013
Burlington Stores, Inc. (a)	928	213,282
Five Below, Inc. (a)	14,077	2,774,999
Foot Locker, Inc.	7,980	347,210
Lowe's Companies, Inc.	41,249	8,590,104
RH (a)	8,538	2,663,771
TJX Companies, Inc.	35,119	2,874,841
Victoria's Secret & Co. (a)	34,516	1,454,849
Warby Parker, Inc. (a)	56,233	908,163
		22,364,727
Textiles, Apparel & Luxury Goods - 4.0%
Capri Holdings Ltd. (a)	42,585	2,831,477
Crocs, Inc. (a)	23,739	2,890,698
Deckers Outdoor Corp. (a)	3,517	1,503,447
lululemon athletica, Inc. (a)	11,931	3,661,385
NIKE, Inc. Class B	51,758	6,590,346
On Holding AG (a)	6,797	157,690
		17,635,043
TOTAL CONSUMER DISCRETIONARY		126,273,333
CONSUMER STAPLES - 1.2%
Beverages - 1.2%
Boston Beer Co., Inc. Class A (a)	2,140	831,625
Celsius Holdings, Inc. (a)	42,949	4,308,644
Constellation Brands, Inc. Class A (sub. vtg.)	868	200,959
		5,341,228
Household Products - 0.0%
Procter & Gamble Co.	1,651	235,069
TOTAL CONSUMER STAPLES		5,576,297
ENERGY - 4.4%
Energy Equipment & Services - 0.1%
Halliburton Co.	13,640	562,241
Oil, Gas & Consumable Fuels - 4.3%
Antero Resources Corp. (a)	26,633	768,096
Cenovus Energy, Inc. (Canada)	21,533	430,158
Cheniere Energy, Inc.	3,988	609,327
Denbury, Inc. (a)	8,757	759,932
Devon Energy Corp.	21,323	1,348,467
Diamondback Energy, Inc.	15,681	2,291,308
EOG Resources, Inc.	21,166	2,799,204
EQT Corp.	4,831	157,829
Exxon Mobil Corp.	15,230	1,766,832
Hess Corp.	23,672	3,554,588
Marathon Oil Corp.	25,437	698,754
Northern Oil & Gas, Inc.	4,677	156,773
Occidental Petroleum Corp.	22,016	1,426,417
Ovintiv, Inc.	3,629	178,656
Pioneer Natural Resources Co.	8,735	2,012,107
Range Resources Corp.	801	20,041
		18,978,489
TOTAL ENERGY		19,540,730
FINANCIALS - 1.0%
Banks - 0.3%
Wells Fargo & Co.	28,377	1,330,030
Consumer Finance - 0.6%
American Express Co.	16,593	2,902,613
Diversified Financial Services - 0.1%
Berkshire Hathaway, Inc. Class B (a)	739	230,213
TOTAL FINANCIALS		4,462,856
HEALTH CARE - 9.4%
Biotechnology - 1.3%
Alnylam Pharmaceuticals, Inc. (a)	8,203	1,857,159
Arcutis Biotherapeutics, Inc. (a)	3,688	61,110
Argenx SE ADR (a)	1,308	499,983
Ascendis Pharma A/S sponsored ADR (a)	1,787	221,731
Generation Bio Co. (a)	849	5,009
Karuna Therapeutics, Inc. (a)	2,038	406,357
Regeneron Pharmaceuticals, Inc. (a)	2,038	1,545,762
Vertex Pharmaceuticals, Inc. (a)	3,679	1,188,685
Verve Therapeutics, Inc. (a)	6,038	137,365
		5,923,161
Health Care Equipment & Supplies - 1.6%
Axonics Modulation Technologies, Inc. (a)	7,169	440,177
Boston Scientific Corp. (a)	22,902	1,059,218
DexCom, Inc. (a)	29,343	3,142,342
Insulet Corp. (a)	3,836	1,102,160
Shockwave Medical, Inc. (a)	6,776	1,273,414
		7,017,311
Health Care Providers & Services - 2.7%
agilon health, Inc. (a)	2,522	54,879
Alignment Healthcare, Inc. (a)	7,344	90,698
Cigna Corp.	1,977	626,057
Elevance Health, Inc.	430	214,996
Guardant Health, Inc. (a)	28,161	885,100
Humana, Inc.	3,431	1,755,643
LifeStance Health Group, Inc. (a)	90	475
Surgery Partners, Inc. (a)	4,446	147,607
UnitedHealth Group, Inc.	16,019	7,996,525
Universal Health Services, Inc. Class B	1,095	162,290
		11,934,270
Health Care Technology - 0.0%
Certara, Inc. (a)	3,981	77,231
Life Sciences Tools & Services - 0.8%
Danaher Corp.	7,139	1,887,409
ICON PLC (a)	1,123	259,087
Olink Holding AB ADR (a)	7,438	145,636
Seer, Inc. (a)	778	3,540
Thermo Fisher Scientific, Inc.	2,688	1,533,047
		3,828,719
Pharmaceuticals - 3.0%
AstraZeneca PLC sponsored ADR	2,542	166,171
Eli Lilly & Co.	20,945	7,208,222
Novo Nordisk A/S Series B sponsored ADR	15,273	2,119,587
Zoetis, Inc. Class A	23,574	3,901,261
		13,395,241
TOTAL HEALTH CARE		42,175,933
INDUSTRIALS - 1.7%
Aerospace & Defense - 0.8%
General Dynamics Corp.	109	25,404
Howmet Aerospace, Inc.	14,803	602,334
L3Harris Technologies, Inc.	1,578	338,986
Lockheed Martin Corp.	860	398,404
Northrop Grumman Corp.	515	230,741
The Boeing Co. (a)	9,797	2,086,761
		3,682,630
Air Freight & Logistics - 0.0%
ZTO Express, Inc. sponsored ADR	5,898	168,152
Airlines - 0.1%
Delta Air Lines, Inc. (a)	4,822	188,540
United Airlines Holdings, Inc. (a)	8,374	409,991
		598,531
Commercial Services & Supplies - 0.1%
ACV Auctions, Inc. Class A (a)	38,673	378,995
Electrical Equipment - 0.4%
Acuity Brands, Inc.	8,325	1,569,429
Machinery - 0.1%
Deere & Co.	907	383,516
Road & Rail - 0.2%
Avis Budget Group, Inc. (a)	3,031	606,321
Bird Global, Inc. Class A (a)	132,496	31,084
Hertz Global Holdings, Inc. (a)	19,408	349,732
		987,137
TOTAL INDUSTRIALS		7,768,390
INFORMATION TECHNOLOGY - 39.4%
IT Services - 2.8%
Block, Inc. Class A (a)	11,771	961,926
MasterCard, Inc. Class A	17,678	6,551,467
MongoDB, Inc. Class A (a)	2,140	458,409
Okta, Inc. (a)	17,201	1,266,166
PayPal Holdings, Inc. (a)	8,930	727,706
Snowflake, Inc. (a)	2,868	448,670
Twilio, Inc. Class A (a)	12,653	757,156
Visa, Inc. Class A	6,695	1,541,256
		12,712,756
Semiconductors & Semiconductor Equipment - 15.3%
Advanced Micro Devices, Inc. (a)	45,917	3,450,663
ASML Holding NV	1,162	767,896
Cirrus Logic, Inc. (a)	6,618	598,201
Enphase Energy, Inc. (a)	2,393	529,762
GlobalFoundries, Inc. (a)	53,089	3,147,116
Lam Research Corp.	2,232	1,116,223
Marvell Technology, Inc.	283,766	12,244,503
Microchip Technology, Inc.	2,878	223,390
Monolithic Power Systems, Inc.	2,601	1,109,483
NVIDIA Corp.	150,087	29,322,497
NXP Semiconductors NV	45,070	8,306,852
onsemi (a)	46,589	3,421,962
SolarEdge Technologies, Inc. (a)	1,162	370,829
Taiwan Semiconductor Manufacturing Co. Ltd. sponsored ADR	22,240	2,062,315
Teradyne, Inc.	17,297	1,759,105
		68,430,797
Software - 11.3%
Bill.Com Holdings, Inc. (a)	6,223	719,503
Datadog, Inc. Class A (a)	6,697	501,003
HubSpot, Inc. (a)	5,623	1,951,237
Intuit, Inc.	4,541	1,919,344
Microsoft Corp.	154,095	38,186,282
Paycom Software, Inc. (a)	2,246	727,569
Salesforce.com, Inc. (a)	24,885	4,179,933
ServiceNow, Inc. (a)	1,975	898,882
Splunk, Inc. (a)	6,716	643,191
Zoom Video Communications, Inc. Class A (a)	8,098	607,350
		50,334,294
Technology Hardware, Storage & Peripherals - 10.0%
Apple, Inc.	308,451	44,506,389
TOTAL INFORMATION TECHNOLOGY		175,984,236
MATERIALS - 0.7%
Chemicals - 0.0%
Linde PLC	641	212,133
Metals & Mining - 0.7%
Freeport-McMoRan, Inc.	67,619	3,017,160
TOTAL MATERIALS		3,229,293
REAL ESTATE - 0.1%
Real Estate Management & Development - 0.1%
WeWork, Inc. (a)	149,629	237,910
TOTAL COMMON STOCKS (Cost $464,210,625)		441,933,936

TOTAL INVESTMENT IN SECURITIES - 98.9% (Cost $464,210,625)	441,933,936
NET OTHER ASSETS (LIABILITIES) - 1.1%	4,929,984
NET ASSETS - 100.0%	446,863,920

Legend

(a)	Non-income producing

Investment Valuation

The following is a summary of the inputs used, as of January 31, 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:

Equities:
Communication Services	56,684,958	56,684,958	-	-
Consumer Discretionary	126,273,333	126,273,333	-	-
Consumer Staples	5,576,297	5,576,297	-	-
Energy	19,540,730	19,540,730	-	-
Financials	4,462,856	4,462,856	-	-
Health Care	42,175,933	42,175,933	-	-
Industrials	7,768,390	7,768,390	-	-
Information Technology	175,984,236	175,984,236	-	-
Materials	3,229,293	3,229,293	-	-
Real Estate	237,910	237,910	-	-
Total Investments in Securities:	441,933,936	441,933,936	-	-

Fidelity® Blue Chip Growth ETF

Financial Statements (Unaudited)

Statement of Assets and Liabilities
				January 31, 2023 (Unaudited)

Assets
Investment in securities, at value - See accompanying schedule Unaffiliated issuers (cost $464,210,625):			$	441,933,936
Cash				5,009,254
Foreign currency held at value (cost $160)				162
Receivable for investments sold				2,937,439
Receivable for fund shares sold				1,171,022
Dividends receivable				85,667
Total assets				451,137,480
Liabilities
Payable for investments purchased	$	3,473,074
Payable for fund shares redeemed		596,610
Accrued management fee		203,876
Total Liabilities				4,273,560
Net Assets			$	446,863,920
Net Assets consist of:
Paid in capital			$	540,438,567
Total accumulated earnings (loss)				(93,574,647)
Net Assets			$	446,863,920
Net Asset Value , offering price and redemption price per share ($446,863,920 ÷ 18,725,000 shares)			$	23.86

Statement of Operations
				Six months ended January 31, 2023 (Unaudited)
Investment Income
Dividends			$	1,238,464
Expenses
Management fee	$	1,111,756
Independent trustees' fees and expenses		635
Total Expenses				1,112,391
Net Investment income (loss)				126,073
Realized and Unrealized Gain (Loss)
Net realized gain (loss) on:
Investment Securities:
Redemptions in-kind		1,049,630
Unaffiliated issuers		(19,353,567)
Foreign currency transactions		(490)
Futures contracts		(12,776)
Total net realized gain (loss)				(18,317,203)
Change in net unrealized appreciation (depreciation) on:
Investment Securities:
Unaffiliated issuers		7,276,883
Assets and liabilities in foreign currencies		(724)
Total change in net unrealized appreciation (depreciation)				7,276,159
Net gain (loss)				(11,041,044)
Net increase (decrease) in net assets resulting from operations			$	(10,914,971)

Statement of Changes in Net Assets

		Six months ended January 31, 2023 (Unaudited)		Year ended July 31, 2022
Increase (Decrease) in Net Assets
Operations
Net investment income (loss)	$	126,073	$	(699,043)
Net realized gain (loss)		(18,317,203)		(25,007,726)
Change in net unrealized appreciation (depreciation)		7,276,159		(94,362,764)
Net increase (decrease) in net assets resulting from operations		(10,914,971)		(120,069,533)
Share transactions
Proceeds from sales of shares		102,722,328		209,141,668
Cost of shares redeemed		(8,340,375)		(132,864,696)
Net increase (decrease) in net assets resulting from share transactions		94,381,953		76,276,972
Total increase (decrease) in net assets		83,466,982		(43,792,561)

Net Assets
Beginning of period		363,396,938		407,189,499
End of period	$	446,863,920	$	363,396,938

Other Information
Shares
Sold		4,525,000		6,575,000
Redeemed		(375,000)		(4,425,000)
Net increase (decrease)		4,150,000		2,150,000

Financial Highlights

Fidelity® Blue Chip Growth ETF

		Six months ended (Unaudited) January 31, 2023		Years ended July 31, 2022		2021		2020 A
Selected Per-Share Data
Net asset value, beginning of period	$	24.93	$	32.77	$	22.74	$	20.00
Income from Investment Operations
Net investment income (loss) B,C		.01		(.05)		(.08)		(.01)
Net realized and unrealized gain (loss)		(1.08)		(7.79)		10.11		2.75
Total from investment operations		(1.07)		(7.84)		10.03		2.74
Distributions from net investment income		-		-		- D		-
Net asset value, end of period	$	23.86	$	24.93	$	32.77	$	22.74
Total Return E,F		(4.28)%		(23.92)%		44.14%		13.68%
Ratios to Average Net Assets C,G,H
Expenses before reductions		.59% I		.59%		.59%		.59% I
Expenses net of fee waivers, if any		.59% I		.59%		.59%		.59% I
Expenses net of all reductions		.59% I		.59%		.59%		.59% I
Net investment income (loss)		.07% I		(.17)%		(.27)%		(.34)% I
Supplemental Data
Net assets, end of period (000 omitted)	$	446,864	$	363,397	$	407,189	$	41,494
Portfolio turnover rate J,K		39% I		57%		63%		11% L

A For the period June 2, 2020 (commencement of operations) through July 31, 2020.

B Calculated based on average shares outstanding during the period.

C 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.

D Amount represents less than $.005 per share.

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

F Based on net asset value.

G 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.

H 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.

I Annualized.

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

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

L Amount not annualized.

Fidelity® Blue Chip Value ETF

Investment Summary January 31, 2023 (Unaudited)

Top Holdings (% of Fund's net assets)

Exxon Mobil Corp.	5.3
Berkshire Hathaway, Inc. Class B	5.1
Comcast Corp. Class A	3.0
Cigna Corp.	2.9
JPMorgan Chase & Co.	2.8
Bristol-Myers Squibb Co.	2.6
Centene Corp.	2.5
UnitedHealth Group, Inc.	2.4
Bank of America Corp.	2.2
Alphabet, Inc. Class A	2.1
	30.9

Market Sectors (% of Fund's net assets)

Financials	22.7
Health Care	19.6
Utilities	9.4
Energy	9.0
Industrials	8.7
Information Technology	7.9
Consumer Staples	7.2
Communication Services	6.6
Consumer Discretionary	4.4
Materials	2.7
Real Estate	0.7

Asset Allocation (% of Fund's net assets)

Foreign investments - 10.8%

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® Blue Chip Value ETF

Schedule of Investments January 31, 2023 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 98.9%
	Shares	Value ($)
COMMUNICATION SERVICES - 6.6%
Entertainment - 1.5%
Activision Blizzard, Inc.	28,933	2,215,400
Interactive Media & Services - 2.1%
Alphabet, Inc. Class A (a)	30,543	3,018,870
Media - 3.0%
Comcast Corp. Class A	109,725	4,317,679
TOTAL COMMUNICATION SERVICES		9,551,949
CONSUMER DISCRETIONARY - 4.4%
Diversified Consumer Services - 1.5%
H&R Block, Inc.	54,629	2,129,438
Internet & Direct Marketing Retail - 0.5%
eBay, Inc.	14,398	712,701
Multiline Retail - 1.4%
Dollar General Corp.	8,877	2,073,667
Specialty Retail - 1.0%
Ross Stores, Inc.	12,111	1,431,399
TOTAL CONSUMER DISCRETIONARY		6,347,205
CONSUMER STAPLES - 7.2%
Beverages - 0.7%
Coca-Cola European Partners PLC	18,171	1,021,574
Food & Staples Retailing - 0.8%
U.S. Foods Holding Corp. (a)	31,016	1,182,640
Food Products - 2.7%
Mondelez International, Inc.	42,602	2,787,875
Tyson Foods, Inc. Class A	16,792	1,104,074
		3,891,949
Household Products - 2.7%
Procter & Gamble Co.	14,154	2,015,247
Spectrum Brands Holdings, Inc.	13,920	944,890
The Clorox Co.	5,611	811,856
		3,771,993
Personal Products - 0.3%
Unilever PLC sponsored ADR	9,049	462,404
TOTAL CONSUMER STAPLES		10,330,560
ENERGY - 9.0%
Oil, Gas & Consumable Fuels - 9.0%
ConocoPhillips Co.	18,248	2,223,884
Equinor ASA sponsored ADR	31,220	950,025
Exxon Mobil Corp.	65,608	7,611,181
Occidental Petroleum Corp.	20,121	1,303,640
Ovintiv, Inc.	16,104	792,800
		12,881,530
FINANCIALS - 22.7%
Banks - 9.1%
Bank of America Corp.	88,952	3,156,017
Cullen/Frost Bankers, Inc.	2,928	381,460
JPMorgan Chase & Co.	29,208	4,087,952
M&T Bank Corp.	10,329	1,611,324
PNC Financial Services Group, Inc.	11,037	1,825,851
Wells Fargo & Co.	44,189	2,071,138
		13,133,742
Capital Markets - 3.6%
Affiliated Managers Group, Inc.	6,472	1,117,973
BlackRock, Inc. Class A	3,639	2,762,765
Invesco Ltd.	16,369	302,990
Northern Trust Corp.	9,430	914,427
		5,098,155
Diversified Financial Services - 5.1%
Berkshire Hathaway, Inc. Class B (a)	23,500	7,320,720
Insurance - 4.6%
Chubb Ltd.	10,718	2,438,238
The Travelers Companies, Inc.	10,488	2,004,467
Willis Towers Watson PLC	8,750	2,224,163
		6,666,868
Mortgage Real Estate Investment Trusts - 0.3%
AGNC Investment Corp.	16,337	189,509
Annaly Capital Management, Inc.	8,058	189,121
		378,630
TOTAL FINANCIALS		32,598,115
HEALTH CARE - 19.6%
Biotechnology - 3.0%
Regeneron Pharmaceuticals, Inc. (a)	2,747	2,083,517
Vertex Pharmaceuticals, Inc. (a)	7,054	2,279,147
		4,362,664
Health Care Providers & Services - 10.9%
Centene Corp. (a)	46,228	3,524,423
Cigna Corp.	13,201	4,180,361
Elevance Health, Inc.	4,682	2,340,953
Humana, Inc.	4,234	2,166,538
UnitedHealth Group, Inc.	6,926	3,457,390
		15,669,665
Pharmaceuticals - 5.7%
AstraZeneca PLC sponsored ADR	32,001	2,091,905
Bristol-Myers Squibb Co.	51,715	3,757,095
Sanofi SA sponsored ADR	47,645	2,341,275
		8,190,275
TOTAL HEALTH CARE		28,222,604
INDUSTRIALS - 8.7%
Aerospace & Defense - 4.8%
L3Harris Technologies, Inc.	6,123	1,315,343
Lockheed Martin Corp.	3,170	1,468,534
Northrop Grumman Corp.	4,914	2,201,669
The Boeing Co. (a)	8,981	1,912,953
		6,898,499
Electrical Equipment - 1.2%
Eaton Corp. PLC	1,942	315,012
Regal Rexnord Corp.	9,945	1,384,344
		1,699,356
Machinery - 2.7%
Crane Holdings Co.	2,046	237,152
ITT, Inc.	5,503	504,020
Oshkosh Corp.	15,428	1,554,834
Parker Hannifin Corp.	997	325,022
Pentair PLC	17,417	964,553
Stanley Black & Decker, Inc.	4,523	403,949
		3,989,530
TOTAL INDUSTRIALS		12,587,385
INFORMATION TECHNOLOGY - 7.9%
Communications Equipment - 1.6%
Cisco Systems, Inc.	46,227	2,249,868
Electronic Equipment & Components - 0.5%
TE Connectivity Ltd.	5,787	735,817
IT Services - 2.9%
Amdocs Ltd.	17,185	1,579,817
Cognizant Technology Solutions Corp. Class A	26,698	1,782,092
Maximus, Inc.	11,218	839,667
		4,201,576
Semiconductors & Semiconductor Equipment - 1.4%
Broadcom, Inc.	514	300,695
Micron Technology, Inc.	17,855	1,076,657
NXP Semiconductors NV	3,300	608,223
		1,985,575
Software - 1.5%
Aspen Technology, Inc. (a)	2,316	460,305
Gen Digital, Inc.	52,720	1,213,087
Open Text Corp.	16,362	548,945
		2,222,337
TOTAL INFORMATION TECHNOLOGY		11,395,173
MATERIALS - 2.7%
Chemicals - 2.3%
DuPont de Nemours, Inc.	32,539	2,406,259
International Flavors & Fragrances, Inc.	8,083	909,014
		3,315,273
Metals & Mining - 0.4%
Newmont Corp.	9,594	507,810
TOTAL MATERIALS		3,823,083
REAL ESTATE - 0.7%
Real Estate Management & Development - 0.7%
CBRE Group, Inc. (a)	11,098	948,990
UTILITIES - 9.4%
Electric Utilities - 7.6%
Constellation Energy Corp.	22,599	1,929,051
Duke Energy Corp.	5,675	581,404
Edison International	4,601	317,009
Evergy, Inc.	24,934	1,562,115
Exelon Corp.	12,506	527,628
NextEra Energy, Inc.	13,938	1,040,193
PG&E Corp. (a)	163,935	2,606,567
Portland General Electric Co.	16,845	801,485
Southern Co.	23,401	1,583,780
		10,949,232
Independent Power and Renewable Electricity Producers - 0.6%
The AES Corp.	34,603	948,468
Multi-Utilities - 1.2%
Dominion Energy, Inc.	26,269	1,671,759
TOTAL UTILITIES		13,569,459
TOTAL COMMON STOCKS (Cost $127,433,100)		142,256,053

TOTAL INVESTMENT IN SECURITIES - 98.9% (Cost $127,433,100)	142,256,053
NET OTHER ASSETS (LIABILITIES) - 1.1%	1,518,489
NET ASSETS - 100.0%	143,774,542

Legend

(a)	Non-income producing

Investment Valuation

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

Equities:
Communication Services	9,551,949	9,551,949	-	-
Consumer Discretionary	6,347,205	6,347,205	-	-
Consumer Staples	10,330,560	10,330,560	-	-
Energy	12,881,530	12,881,530	-	-
Financials	32,598,115	32,598,115	-	-
Health Care	28,222,604	28,222,604	-	-
Industrials	12,587,385	12,587,385	-	-
Information Technology	11,395,173	11,395,173	-	-
Materials	3,823,083	3,823,083	-	-
Real Estate	948,990	948,990	-	-
Utilities	13,569,459	13,569,459	-	-
Total Investments in Securities:	142,256,053	142,256,053	-	-

Fidelity® Blue Chip Value ETF

Financial Statements (Unaudited)

Statement of Assets and Liabilities
				January 31, 2023 (Unaudited)

Assets
Investment in securities, at value - See accompanying schedule Unaffiliated issuers (cost $127,433,100):			$	142,256,053
Cash				1,389,882
Receivable for investments sold				306,194
Dividends receivable				76,701
Total assets				144,028,830
Liabilities
Payable for investments purchased	$	186,170
Accrued management fee		68,118
Total Liabilities				254,288
Net Assets			$	143,774,542
Net Assets consist of:
Paid in capital			$	131,368,135
Total accumulated earnings (loss)				12,406,407
Net Assets			$	143,774,542
Net Asset Value , offering price and redemption price per share ($143,774,542 ÷ 4,975,000 shares)			$	28.90

Statement of Operations
				Six months ended January 31, 2023 (Unaudited)
Investment Income
Dividends			$	1,199,709
Expenses
Management fee	$	362,425
Independent trustees' fees and expenses		206
Total Expenses				362,631
Net Investment income (loss)				837,078
Realized and Unrealized Gain (Loss)
Net realized gain (loss) on:
Investment Securities:
Redemptions in-kind		767,268
Unaffiliated issuers		(1,770,279)
Futures contracts		(4,693)
Total net realized gain (loss)				(1,007,704)
Change in net unrealized appreciation (depreciation) on investment securities				5,640,652
Net gain (loss)				4,632,948
Net increase (decrease) in net assets resulting from operations			$	5,470,026

Statement of Changes in Net Assets

		Six months ended January 31, 2023 (Unaudited)		Year ended July 31, 2022
Increase (Decrease) in Net Assets
Operations
Net investment income (loss)	$	837,078	$	1,429,112
Net realized gain (loss)		(1,007,704)		1,521,586
Change in net unrealized appreciation (depreciation)		5,640,652		(2,033,797)
Net increase (decrease) in net assets resulting from operations		5,470,026		916,901
Distributions to shareholders		(1,746,850)		(3,452,325)
Share transactions
Proceeds from sales of shares		30,071,206		25,101,299
Cost of shares redeemed		(4,195,268)		(2,855,376)
Net increase (decrease) in net assets resulting from share transactions		25,875,938		22,245,923
Total increase (decrease) in net assets		29,599,114		19,710,499

Net Assets
Beginning of period		114,175,428		94,464,929
End of period	$	143,774,542	$	114,175,428

Other Information
Shares
Sold		1,050,000		875,000
Redeemed		(150,000)		(100,000)
Net increase (decrease)		900,000		775,000

Financial Highlights

Fidelity® Blue Chip Value ETF

		Six months ended (Unaudited) January 31, 2023		Years ended July 31, 2022		2021		2020 A
Selected Per-Share Data
Net asset value, beginning of period	$	28.02	$	28.63	$	20.23	$	20.00
Income from Investment Operations
Net investment income (loss) B,C		.19		.39		.32		.03
Net realized and unrealized gain (loss)		1.06		(.03)		8.32		.21
Total from investment operations		1.25		.36		8.64		.24
Distributions from net investment income		(.19)		(.39)		(.24)		(.01)
Distributions from net realized gain		(.19)		(.58)		-		-
Total distributions		(.37) D		(.97)		(.24)		(.01)
Net asset value, end of period	$	28.90	$	28.02	$	28.63	$	20.23
Total Return E,F		4.54%		1.27%		42.83%		1.23%
Ratios to Average Net Assets C,G,H
Expenses before reductions		.59% I		.59%		.59%		.59% I
Expenses net of fee waivers, if any		.59% I		.59%		.59%		.59% I
Expenses net of all reductions		.59% I		.59%		.58%		.59% I
Net investment income (loss)		1.37% I		1.36%		1.22%		1.02% I
Supplemental Data
Net assets, end of period (000 omitted)	$	143,775	$	114,175	$	94,465	$	8,093
Portfolio turnover rate J,K		26% I		54%		97%		20% L

A For the period June 2, 2020 (commencement of operations) through July 31, 2020.

B Calculated based on average shares outstanding during the period.

D Total distributions per share do not sum due to rounding.

E Based on net asset value.

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

G 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.

I Annualized.

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

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

L Amount not annualized.

Fidelity® Growth Opportunities ETF

Investment Summary January 31, 2023 (Unaudited)

Top Holdings (% of Fund's net assets)

Microsoft Corp.	8.0
Amazon.com, Inc.	4.5
NVIDIA Corp.	4.3
Alphabet, Inc. Class C	4.2
T-Mobile U.S., Inc.	4.2
Apple, Inc.	3.2
Alphabet, Inc. Class A	2.7
Uber Technologies, Inc.	2.7
Antero Resources Corp.	2.4
Advanced Micro Devices, Inc.	2.3
	38.5

Market Sectors (% of Fund's net assets)

Information Technology	43.9
Communication Services	16.1
Health Care	12.0
Consumer Discretionary	11.2
Energy	9.4
Financials	1.8
Industrials	1.6
Materials	1.4
Utilities	1.2
Consumer Staples	0.3
Real Estate	0.0

Asset Allocation (% of Fund's net assets)

Foreign investments - 10.4%

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® Growth Opportunities ETF

Schedule of Investments January 31, 2023 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 98.9%
	Shares	Value ($)
COMMUNICATION SERVICES - 16.1%
Entertainment - 1.5%
Netflix, Inc. (a)	803	284,150
Roku, Inc. Class A (a)	10,085	579,888
Sea Ltd. ADR (a)	9,569	616,722
		1,480,760
Interactive Media & Services - 9.3%
Alphabet, Inc.:
Class A (a)	26,516	2,620,841
Class C (a)	40,907	4,085,382
Meta Platforms, Inc. Class A (a)	9,949	1,482,103
Snap, Inc. Class A (a)	16,923	195,630
Zoominfo Technologies, Inc. (a)	19,259	543,682
		8,927,638
Media - 1.1%
Magnite, Inc. (a)	36,006	434,952
TechTarget, Inc. (a)	7,849	388,761
The Trade Desk, Inc. (a)	5,553	281,537
		1,105,250
Wireless Telecommunication Services - 4.2%
T-Mobile U.S., Inc. (a)	27,029	4,035,700
TOTAL COMMUNICATION SERVICES		15,549,348
CONSUMER DISCRETIONARY - 11.2%
Auto Components - 0.2%
Aptiv PLC (a)	933	105,513
Mobileye Global, Inc.	1,250	48,250
		153,763
Automobiles - 2.0%
Rivian Automotive, Inc. (a)	1,648	31,971
Tesla, Inc. (a)	10,847	1,878,917
		1,910,888
Internet & Direct Marketing Retail - 8.8%
Amazon.com, Inc. (a)	42,497	4,382,716
Cazoo Group Ltd. Class A (a)	51,557	10,853
Chewy, Inc. (a)	687	30,956
Doordash, Inc. (a)	8,054	466,488
Global-e Online Ltd. (a)	16,285	488,061
Lyft, Inc. (a)	29,119	473,184
Uber Technologies, Inc. (a)	82,976	2,566,448
Wayfair LLC Class A (a)	860	52,030
		8,470,736
Specialty Retail - 0.1%
Carvana Co. Class A (a)	10,997	111,839
Textiles, Apparel & Luxury Goods - 0.1%
lululemon athletica, Inc. (a)	411	126,128
TOTAL CONSUMER DISCRETIONARY		10,773,354
CONSUMER STAPLES - 0.3%
Beverages - 0.2%
Boston Beer Co., Inc. Class A (a)	426	165,548
Food Products - 0.0%
Local Bounti Corp. (a)	28,972	27,807
Personal Products - 0.1%
Olaplex Holdings, Inc. (a)	12,051	76,042
TOTAL CONSUMER STAPLES		269,397
ENERGY - 9.4%
Oil, Gas & Consumable Fuels - 9.4%
Antero Resources Corp. (a)	81,441	2,348,758
Canadian Natural Resources Ltd.	18,067	1,108,964
Cenovus Energy, Inc. (Canada)	41,834	835,705
Cheniere Energy, Inc.	734	112,148
Exxon Mobil Corp.	13,066	1,515,787
Hess Corp.	9,819	1,474,421
Imperial Oil Ltd.	2,847	155,600
Ovintiv, Inc.	18,497	910,607
Range Resources Corp.	1,538	38,481
Tourmaline Oil Corp.	11,640	542,480
		9,042,951
FINANCIALS - 1.8%
Banks - 1.4%
Wells Fargo & Co.	29,214	1,369,260
Capital Markets - 0.4%
LPL Financial	1,528	362,319
TOTAL FINANCIALS		1,731,579
HEALTH CARE - 12.0%
Biotechnology - 2.4%
Agios Pharmaceuticals, Inc. (a)	5,786	170,571
Alnylam Pharmaceuticals, Inc. (a)	1,246	282,094
ALX Oncology Holdings, Inc. (a)	2,108	19,604
Argenx SE ADR (a)	866	331,029
Ascendis Pharma A/S sponsored ADR (a)	67	8,313
Blueprint Medicines Corp. (a)	467	21,828
Celldex Therapeutics, Inc. (a)	2,484	109,445
Cytokinetics, Inc. (a)	7,080	300,758
Erasca, Inc. (a)	3,193	12,772
Exelixis, Inc. (a)	10,363	182,596
Icosavax, Inc. (a)	9,432	99,508
Instil Bio, Inc. (a)	2,376	1,934
Keros Therapeutics, Inc. (a)	1,815	106,305
Monte Rosa Therapeutics, Inc. (a)	949	7,023
Morphic Holding, Inc. (a)	661	21,635
Nuvalent, Inc. Class A (a)	1,032	31,218
Tenaya Therapeutics, Inc. (a)	1,423	4,867
TG Therapeutics, Inc. (a)	1,967	29,957
Vaxcyte, Inc. (a)	8,158	369,965
Verve Therapeutics, Inc. (a)	1,905	43,339
Zentalis Pharmaceuticals, Inc. (a)	4,994	117,858
		2,272,619
Health Care Equipment & Supplies - 2.3%
Boston Scientific Corp. (a)	24,701	1,142,421
Insulet Corp. (a)	700	201,124
Penumbra, Inc. (a)	1,489	372,860
TransMedics Group, Inc. (a)	8,009	504,727
		2,221,132
Health Care Providers & Services - 6.5%
agilon health, Inc. (a)	36,649	797,482
Alignment Healthcare, Inc. (a)	1,333	16,463
Centene Corp. (a)	14,388	1,096,941
Guardant Health, Inc. (a)	5,435	170,822
Humana, Inc.	2,614	1,337,584
Oak Street Health, Inc. (a)	28,598	831,058
UnitedHealth Group, Inc.	4,055	2,024,215
		6,274,565
Life Sciences Tools & Services - 0.7%
Danaher Corp.	1,656	437,813
Thermo Fisher Scientific, Inc.	428	244,101
		681,914
Pharmaceuticals - 0.1%
Arvinas Holding Co. LLC (a)	2,011	65,900
Eli Lilly & Co.	239	82,252
		148,152
TOTAL HEALTH CARE		11,598,382
INDUSTRIALS - 1.6%
Aerospace & Defense - 1.5%
Lockheed Martin Corp.	1,075	498,005
Northrop Grumman Corp.	763	341,855
The Boeing Co. (a)	2,756	587,028
		1,426,888
Commercial Services & Supplies - 0.1%
ACV Auctions, Inc. Class A (a)	15,831	155,144
TOTAL INDUSTRIALS		1,582,032
INFORMATION TECHNOLOGY - 43.9%
Communications Equipment - 0.1%
Lumentum Holdings, Inc. (a)	996	59,939
Electronic Equipment & Components - 1.8%
Coherent Corp. (a)	689	29,903
Flex Ltd. (a)	44,916	1,048,789
Jabil, Inc.	7,963	626,131
		1,704,823
IT Services - 9.8%
Block, Inc. Class A (a)	7,860	642,319
Cloudflare, Inc. (a)	5,023	265,767
Dlocal Ltd. (a)	20,798	345,039
EPAM Systems, Inc. (a)	2,005	666,963
Flywire Corp. (a)	6,585	177,597
Globant SA (a)	652	105,741
GoDaddy, Inc. (a)	12,304	1,010,528
Marqeta, Inc. Class A (a)	50,576	335,319
MasterCard, Inc. Class A	3,714	1,376,408
MongoDB, Inc. Class A (a)	4,512	966,516
Nuvei Corp. (a)(b)	15,314	541,044
Nuvei Corp. (Canada) (a)(b)	4,297	151,689
Okta, Inc. (a)	806	59,330
Payoneer Global, Inc. (a)	6,454	38,466
Repay Holdings Corp. (a)	36,046	351,088
Shift4 Payments, Inc. (a)	8,944	572,774
Shopify, Inc. Class A (a)	1,386	68,288
Snowflake, Inc. (a)	126	19,711
TaskUs, Inc. (a)	7,002	130,587
Visa, Inc. Class A	7,248	1,668,562
		9,493,736
Semiconductors & Semiconductor Equipment - 14.4%
Advanced Micro Devices, Inc. (a)	29,343	2,205,126
Applied Materials, Inc.	7,867	877,092
GlobalFoundries, Inc. (a)	26,603	1,577,026
Lam Research Corp.	1,343	671,634
Marvell Technology, Inc.	16,043	692,255
Microchip Technology, Inc.	756	58,681
NVIDIA Corp.	21,341	4,169,391
NXP Semiconductors NV