UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-CSR
CERTIFIED SHAREHOLDER REPORT OF REGISTERED
MANAGEMENT INVESTMENT COMPANIES
Investment Company Act file number 811-07319
Fidelity Covington Trust
(Exact name of registrant as specified in charter)
245 Summer St., Boston, MA 02210
(Address of principal executive offices) (Zip code)
Margaret Carey, Secretary
245 Summer St.
Boston, Massachusetts 02210
(Name and address of agent for service)
Registrant's telephone number, including area code:
617-563-7000
Date of fiscal year end: | June 30 |
Date of reporting period: | December 31, 2023 |
Item 1.
Reports to Stockholders
Contents
Top Holdings (% of Fund's net assets) | ||
Vestas Wind Systems A/S | 4.6 | |
Enphase Energy, Inc. | 4.4 | |
First Solar, Inc. | 3.9 | |
ORSTED A/S | 3.4 | |
Sunrun, Inc. | 3.0 | |
EDP Renovaveis SA | 2.7 | |
SolarEdge Technologies, Inc. | 2.7 | |
Verbund AG | 2.7 | |
Northland Power, Inc. | 2.5 | |
Meridian Energy Ltd. | 2.4 | |
32.3 | ||
Market Sectors (% of Fund's net assets) | ||
Utilities | 53.3 | |
Industrials | 24.8 | |
Information Technology | 21.8 | |
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 - 99.9% | |||
Shares | Value ($) | ||
INDUSTRIALS - 24.8% | |||
Construction & Engineering - 1.5% | |||
Ameresco, Inc. Class A (a) | 14,201 | 449,746 | |
Electrical Equipment - 23.3% | |||
Array Technologies, Inc. (a) | 36,191 | 608,009 | |
Bloom Energy Corp. Class A (a) | 43,131 | 638,339 | |
CS Wind Corp. | 10,896 | 593,912 | |
Doosan Fuel Cell Co. Ltd. (a) | 20,895 | 376,399 | |
Goldwind Science & Technology Co. Ltd. (H Shares) | 643,800 | 289,393 | |
Nextracker, Inc. Class A | 13,329 | 624,464 | |
Nordex SE (a) | 43,302 | 497,469 | |
Plug Power, Inc. (a) | 138,414 | 622,863 | |
Shoals Technologies Group, Inc. (a) | 41,363 | 642,781 | |
Sunrun, Inc. (a) | 47,055 | 923,690 | |
Vestas Wind Systems A/S (a) | 44,791 | 1,422,378 | |
7,239,697 | |||
TOTAL INDUSTRIALS | 7,689,443 | ||
INFORMATION TECHNOLOGY - 21.8% | |||
Electronic Equipment, Instruments & Components - 1.8% | |||
Landis+Gyr Group AG | 6,214 | 561,117 | |
Semiconductors & Semiconductor Equipment - 20.0% | |||
Abalance Corp. | 11,000 | 256,313 | |
Canadian Solar, Inc. (a) | 20,957 | 549,702 | |
Enphase Energy, Inc. (a) | 10,217 | 1,350,074 | |
First Solar, Inc. (a) | 6,997 | 1,205,443 | |
Flat Glass Group Co. Ltd. | 227,000 | 383,152 | |
JinkoSolar Holdings Co. Ltd. ADR | 14,813 | 547,192 | |
SMA Solar Technology AG (a) | 7,171 | 479,644 | |
SolarEdge Technologies, Inc. (a) | 8,948 | 837,533 | |
Xinyi Solar Holdings Ltd. | 1,030,000 | 601,495 | |
6,210,548 | |||
TOTAL INFORMATION TECHNOLOGY | 6,771,665 | ||
UTILITIES - 53.3% | |||
Electric Utilities - 8.3% | |||
Acciona SA | 4,622 | 680,589 | |
ORSTED A/S (b) | 18,930 | 1,049,960 | |
Verbund AG | 9,007 | 836,262 | |
2,566,811 | |||
Independent Power and Renewable Electricity Producers - 45.0% | |||
Altus Power, Inc. Class A (a) | 57,750 | 394,433 | |
Atlantica Sustainable Infrastructure PLC | 24,575 | 528,363 | |
Boralex, Inc. Class A | 23,995 | 612,886 | |
Brookfield Renewable Corp. | 24,695 | 714,293 | |
China Datang Corp. Renewable Power Co. Ltd. | 1,627,000 | 375,050 | |
China Longyuan Power Grid Corp. Ltd. (H Shares) | 781,000 | 592,110 | |
Clearway Energy, Inc. Class C | 21,937 | 601,732 | |
Corp. ACCIONA Energias Renovables SA | 17,156 | 532,155 | |
Drax Group PLC | 100,683 | 628,533 | |
EDP Renovaveis SA | 41,407 | 847,338 | |
Encavis AG (a) | 35,153 | 605,387 | |
Energix-Renewable Energies Ltd. | 127,883 | 471,983 | |
Enlight Renewable Energy Ltd. (a) | 31,544 | 614,516 | |
ERG SpA | 17,533 | 558,956 | |
Greenvolt-Energias Renovaveis SA (a) | 36,781 | 332,354 | |
Innergex Renewable Energy, Inc. | 62,958 | 438,787 | |
Meridian Energy Ltd. | 212,117 | 744,032 | |
Neoen SA (b) | 18,664 | 624,288 | |
Northland Power, Inc. | 42,405 | 774,070 | |
Ormat Technologies, Inc. | 9,814 | 743,803 | |
ReNew Energy Global PLC (a) | 54,457 | 417,141 | |
RENOVA, Inc. (a) | 40,900 | 344,943 | |
Solaria Energia y Medio Ambiente SA (a) | 26,426 | 543,253 | |
Sunnova Energy International, Inc. (a) | 39,176 | 597,434 | |
West Holdings Corp. | 16,200 | 354,497 | |
13,992,337 | |||
TOTAL UTILITIES | 16,559,148 | ||
TOTAL COMMON STOCKS (Cost $38,979,276) | 31,020,256 | ||
Money Market Funds - 0.0% | |||
Shares | Value ($) | ||
Fidelity Cash Central Fund 5.40% (c) (Cost $7,641) | 7,640 | 7,641 | |
TOTAL INVESTMENT IN SECURITIES - 99.9% (Cost $38,986,917) | 31,027,897 |
NET OTHER ASSETS (LIABILITIES) - 0.1% | 33,083 |
NET ASSETS - 100.0% | 31,060,980 |
(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 $1,674,248 or 5.4% of net assets. |
(c) | Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request. |
Affiliate | Value, beginning of period ($) | 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% | - | 261,636 | 253,995 | 102 | - | - | 7,641 | 0.0% |
Total | - | 261,636 | 253,995 | 102 | - | - | 7,641 | |
Valuation Inputs at Reporting Date: | ||||
Description | Total ($) | Level 1 ($) | Level 2 ($) | Level 3 ($) |
Investments in Securities: | ||||
Equities: | ||||
Industrials | 7,689,443 | 7,689,443 | - | - |
Information Technology | 6,771,665 | 6,771,665 | - | - |
Utilities | 16,559,148 | 16,559,148 | - | - |
Money Market Funds | 7,641 | 7,641 | - | - |
Total Investments in Securities: | 31,027,897 | 31,027,897 | - | - |
Statement of Assets and Liabilities | ||||
December 31, 2023 (Unaudited) | ||||
Assets | ||||
Investment in securities, at value - See accompanying schedule: | ||||
Unaffiliated issuers (cost $38,979,276) | $ | 31,020,256 | ||
Fidelity Central Funds (cost $7,641) | 7,641 | |||
Total Investment in Securities (cost $38,986,917) | $ | 31,027,897 | ||
Cash | 3,344 | |||
Foreign currency held at value (cost $13,642) | 13,708 | |||
Dividends receivable | 28,523 | |||
Distributions receivable from Fidelity Central Funds | 23 | |||
Other receivables | 44 | |||
Total assets | 31,073,539 | |||
Liabilities | ||||
Payable for investments purchased | $ | 3,053 | ||
Accrued management fee | 9,506 | |||
Total Liabilities | 12,559 | |||
Net Assets | $ | 31,060,980 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 45,267,924 | ||
Total accumulated earnings (loss) | (14,206,944) | |||
Net Assets | $ | 31,060,980 | ||
Net Asset Value, offering price and redemption price per share ($31,060,980 ÷ 1,800,000 shares) | $ | 17.26 |
Statement of Operations | ||||
Six months ended December 31, 2023 (Unaudited) | ||||
Investment Income | ||||
Dividends | $ | 228,177 | ||
Income from Fidelity Central Funds | 102 | |||
Income before foreign taxes withheld | $ | 228,279 | ||
Less foreign taxes withheld | (17,863) | |||
Total Income | 210,416 | |||
Expenses | ||||
Management fee | $ | 60,030 | ||
Independent trustees' fees and expenses | 96 | |||
Total expenses before reductions | 60,126 | |||
Expense reductions | (90) | |||
Total expenses after reductions | 60,036 | |||
Net Investment income (loss) | 150,380 | |||
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | (3,231,789) | |||
Redemptions in-kind | 81,231 | |||
Foreign currency transactions | (21) | |||
Total net realized gain (loss) | (3,150,579) | |||
Change in net unrealized appreciation (depreciation) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | (3,293,680) | |||
Assets and liabilities in foreign currencies | 153 | |||
Total change in net unrealized appreciation (depreciation) | (3,293,527) | |||
Net gain (loss) | (6,444,106) | |||
Net increase (decrease) in net assets resulting from operations | $ | (6,293,726) |
Statement of Changes in Net Assets | ||||
Six months ended December 31, 2023 (Unaudited) | Year ended June 30, 2023 | |||
Increase (Decrease) in Net Assets | ||||
Operations | ||||
Net investment income (loss) | $ | 150,380 | $ | 267,416 |
Net realized gain (loss) | (3,150,579) | (1,728,914) | ||
Change in net unrealized appreciation (depreciation) | (3,293,527) | (190,092) | ||
Net increase (decrease) in net assets resulting from operations | (6,293,726) | (1,651,590) | ||
Distributions to shareholders | (180,000) | (306,800) | ||
Share transactions | ||||
Proceeds from sales of shares | - | 14,295,218 | ||
Cost of shares redeemed | (969,162) | (2,120,671) | ||
Net increase (decrease) in net assets resulting from share transactions | (969,162) | 12,174,547 | ||
Total increase (decrease) in net assets | (7,442,888) | 10,216,157 | ||
Net Assets | ||||
Beginning of period | 38,503,868 | 28,287,711 | ||
End of period | $ | 31,060,980 | $ | 38,503,868 |
Other Information | ||||
Shares | ||||
Sold | - | 600,000 | ||
Redeemed | (50,000) | (100,000) | ||
Net increase (decrease) | (50,000) | 500,000 | ||
Fidelity® Clean Energy ETF |
Six months ended (Unaudited) December 31, 2023 | Years ended June 30, 2023 | 2022 A | ||||
Selected Per-Share Data | ||||||
Net asset value, beginning of period | $ | 20.81 | $ | 20.95 | $ | 25.12 |
Income from Investment Operations | ||||||
Net investment income (loss) B,C | .08 | .15 | .15 | |||
Net realized and unrealized gain (loss) | (3.53) | (.12) | (4.20) | |||
Total from investment operations | (3.45) | .03 | (4.05) | |||
Distributions from net investment income | (.10) | (.17) | (.12) | |||
Total distributions | (.10) | (.17) | (.12) | |||
Net asset value, end of period | $ | 17.26 | $ | 20.81 | $ | 20.95 |
Total Return D,E,F | (16.61)% | .10% | (16.12)% | |||
Ratios to Average Net Assets C,G,H | ||||||
Expenses before reductions | .39% I | .39% | .39% I | |||
Expenses net of fee waivers, if any | .39% I | .39% | .39% I | |||
Expenses net of all reductions | .39% I | .39% | .39% I | |||
Net investment income (loss) | .97% I | .69% | .90% I | |||
Supplemental Data | ||||||
Net assets, end of period (000 omitted) | $ | 31,061 | $ | 38,504 | $ | 28,288 |
Portfolio turnover rate J,K | 40% I | 37% | 30% L |
Top Holdings (% of Fund's net assets) | ||
Intuit, Inc. | 4.7 | |
Salesforce, Inc. | 4.5 | |
ServiceNow, Inc. | 4.3 | |
Microsoft Corp. | 4.2 | |
Oracle Corp. | 4.1 | |
Equinix, Inc. | 3.3 | |
Snowflake, Inc. | 3.3 | |
Workday, Inc. Class A | 3.1 | |
Atlassian Corp. PLC | 3.1 | |
HubSpot, Inc. | 2.7 | |
37.3 | ||
Market Sectors (% of Fund's net assets) | ||
Information Technology | 92.1 | |
Real Estate | 6.0 | |
Industrials | 1.7 | |
Asset Allocation (% of Fund's net assets) |
Futures - 0.1% |
Common Stocks - 99.8% | |||
Shares | Value ($) | ||
INDUSTRIALS - 1.7% | |||
Professional Services - 1.7% | |||
Ceridian HCM Holding, Inc. (a) | 14,090 | 945,721 | |
INFORMATION TECHNOLOGY - 92.1% | |||
IT Services - 11.2% | |||
Digitalocean Holdings, Inc. (a) | 17,212 | 631,508 | |
Fastly, Inc. Class A (a) | 33,252 | 591,886 | |
Kingsoft Cloud Holdings Ltd. (a) | 1,168,000 | 300,655 | |
MongoDB, Inc. Class A (a) | 3,265 | 1,334,895 | |
Snowflake, Inc. (a) | 9,242 | 1,839,158 | |
Twilio, Inc. Class A (a) | 15,459 | 1,172,874 | |
Vnet Group, Inc. ADR (a) | 101,389 | 290,986 | |
6,161,962 | |||
Software - 68.6% | |||
Alteryx, Inc. Class A (a) | 14,978 | 706,362 | |
Atlassian Corp. PLC (a) | 7,083 | 1,684,762 | |
Box, Inc. Class A (a) | 26,232 | 671,802 | |
C3.ai, Inc. (a) | 20,993 | 602,709 | |
CommVault Systems, Inc. (a) | 8,843 | 706,114 | |
Datadog, Inc. Class A (a) | 12,337 | 1,497,465 | |
Dropbox, Inc. Class A (a) | 30,262 | 892,124 | |
Dynatrace, Inc. (a) | 19,192 | 1,049,610 | |
Elastic NV (a) | 10,180 | 1,147,286 | |
Five9, Inc. (a) | 10,199 | 802,559 | |
GitLab, Inc. (a) | 14,288 | 899,572 | |
HubSpot, Inc. (a) | 2,594 | 1,505,921 | |
Informatica, Inc. (a) | 17,425 | 494,696 | |
Intuit, Inc. | 4,182 | 2,613,875 | |
JFrog Ltd. (a) | 20,990 | 726,464 | |
Kingdee International Software Group Co. Ltd. (a) | 496,500 | 723,588 | |
Microsoft Corp. | 6,242 | 2,347,242 | |
MicroStrategy, Inc. Class A (a) | 1,608 | 1,015,645 | |
NICE Ltd. (a) | 5,252 | 1,063,410 | |
Nutanix, Inc. Class A (a) | 22,128 | 1,055,284 | |
Oracle Corp. | 21,506 | 2,267,378 | |
Pegasystems, Inc. | 11,028 | 538,828 | |
RingCentral, Inc. (a) | 20,747 | 704,361 | |
Salesforce, Inc. (a) | 9,390 | 2,470,885 | |
ServiceNow, Inc. (a) | 3,333 | 2,354,731 | |
SolarWinds, Inc. (a) | 31,894 | 398,356 | |
Splunk, Inc. (a) | 8,271 | 1,260,087 | |
Teradata Corp. (a) | 15,631 | 680,105 | |
UiPath, Inc. Class A (a) | 44,462 | 1,104,436 | |
Verint Systems, Inc. (a) | 20,867 | 564,035 | |
Vertex, Inc. Class A (a) | 16,498 | 444,456 | |
Workday, Inc. Class A (a) | 6,210 | 1,714,333 | |
Zoom Video Communications, Inc. Class A (a) | 16,694 | 1,200,466 | |
37,908,947 | |||
Technology Hardware, Storage & Peripherals - 12.3% | |||
Hewlett Packard Enterprise Co. | 72,778 | 1,235,770 | |
NetApp, Inc. | 12,914 | 1,138,498 | |
Pure Storage, Inc. Class A (a) | 28,119 | 1,002,724 | |
Seagate Technology Holdings PLC | 13,804 | 1,178,447 | |
Super Micro Computer, Inc. (a) | 3,735 | 1,061,711 | |
Western Digital Corp. (a) | 22,701 | 1,188,851 | |
6,806,001 | |||
TOTAL INFORMATION TECHNOLOGY | 50,876,910 | ||
REAL ESTATE - 6.0% | |||
Equity Real Estate Investment Trusts (REITs) - 6.0% | |||
Digital Realty Trust, Inc. | 11,029 | 1,484,283 | |
Equinix, Inc. | 2,289 | 1,843,538 | |
3,327,821 | |||
TOTAL COMMON STOCKS (Cost $48,772,042) | 55,150,452 | ||
Money Market Funds - 0.1% | |||
Shares | Value ($) | ||
Fidelity Cash Central Fund 5.40% (b) (Cost $54,403) | 54,392 | 54,403 | |
TOTAL INVESTMENT IN SECURITIES - 99.9% (Cost $48,826,445) | 55,204,855 |
NET OTHER ASSETS (LIABILITIES) - 0.1% | 39,944 |
NET ASSETS - 100.0% | 55,244,799 |
Futures Contracts | |||||
Number of contracts | Expiration Date | Notional Amount ($) | Value ($) | Unrealized Appreciation/ (Depreciation) ($) | |
Purchased | |||||
Equity Index Contracts | |||||
CME Micro E-mini NASDAQ 100 Index Contracts (United States) | 2 | Mar 2024 | 68,094 | 2,973 | 2,973 |
The notional amount of futures purchased as a percentage of Net Assets is 0.1% |
(a) | Non-income producing |
(b) | Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request. |
Affiliate | Value, beginning of period ($) | Purchases ($) | Sales Proceeds ($) | Dividend Income ($) | Realized Gain (loss) ($) | Change in Unrealized appreciation (depreciation) ($) | Value, end of period ($) | % ownership, end of period |
Fidelity Cash Central Fund 5.40% | 13,981 | 1,719,087 | 1,678,665 | 2,112 | - | - | 54,403 | 0.0% |
Total | 13,981 | 1,719,087 | 1,678,665 | 2,112 | - | - | 54,403 | |
Valuation Inputs at Reporting Date: | ||||
Description | Total ($) | Level 1 ($) | Level 2 ($) | Level 3 ($) |
Investments in Securities: | ||||
Equities: | ||||
Industrials | 945,721 | 945,721 | - | - |
Information Technology | 50,876,910 | 50,876,910 | - | - |
Real Estate | 3,327,821 | 3,327,821 | - | - |
Money Market Funds | 54,403 | 54,403 | - | - |
Total Investments in Securities: | 55,204,855 | 55,204,855 | - | - |
Derivative Instruments: Assets | ||||
Futures Contracts | 2,973 | 2,973 | - | - |
Total Assets | 2,973 | 2,973 | - | - |
Total Derivative Instruments: | 2,973 | 2,973 | - | - |
Primary Risk Exposure / Derivative Type | Value | |
Asset ($) | Liability ($) | |
Equity Risk | ||
Futures Contracts (a) | 2,973 | 0 |
Total Equity Risk | 2,973 | 0 |
Total Value of Derivatives | 2,973 | 0 |
Statement of Assets and Liabilities | ||||
December 31, 2023 (Unaudited) | ||||
Assets | ||||
Investment in securities, at value - See accompanying schedule: | ||||
Unaffiliated issuers (cost $48,772,042) | $ | 55,150,452 | ||
Fidelity Central Funds (cost $54,403) | 54,403 | |||
Total Investment in Securities (cost $48,826,445) | $ | 55,204,855 | ||
Segregated cash with brokers for derivative instruments | 8,850 | |||
Cash | 10,810 | |||
Foreign currency held at value (cost $5,807) | 5,932 | |||
Dividends receivable | 30,600 | |||
Distributions receivable from Fidelity Central Funds | 551 | |||
Total assets | 55,261,598 | |||
Liabilities | ||||
Accrued management fee | $ | 16,482 | ||
Payable for daily variation margin on futures contracts | 268 | |||
Other payables and accrued expenses | 49 | |||
Total Liabilities | 16,799 | |||
Net Assets | $ | 55,244,799 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 53,638,973 | ||
Total accumulated earnings (loss) | 1,605,826 | |||
Net Assets | $ | 55,244,799 | ||
Net Asset Value, offering price and redemption price per share ($55,244,799 ÷ 2,450,000 shares) | $ | 22.55 |
Statement of Operations | ||||
Six months ended December 31, 2023 (Unaudited) | ||||
Investment Income | ||||
Dividends | $ | 102,720 | ||
Income from Fidelity Central Funds | 2,112 | |||
Total Income | 104,832 | |||
Expenses | ||||
Management fee | $ | 84,391 | ||
Independent trustees' fees and expenses | 110 | |||
Total expenses before reductions | 84,501 | |||
Expense reductions | (196) | |||
Total expenses after reductions | 84,305 | |||
Net Investment income (loss) | 20,527 | |||
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | (838,583) | |||
Redemptions in-kind | 890,527 | |||
Foreign currency transactions | (3,509) | |||
Futures contracts | 11,610 | |||
Total net realized gain (loss) | 60,045 | |||
Change in net unrealized appreciation (depreciation) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | 6,592,039 | |||
Assets and liabilities in foreign currencies | 191 | |||
Futures contracts | 1,777 | |||
Total change in net unrealized appreciation (depreciation) | 6,594,007 | |||
Net gain (loss) | 6,654,052 | |||
Net increase (decrease) in net assets resulting from operations | $ | 6,674,579 |
Statement of Changes in Net Assets | ||||
Six months ended December 31, 2023 (Unaudited) | Year ended June 30, 2023 | |||
Increase (Decrease) in Net Assets | ||||
Operations | ||||
Net investment income (loss) | $ | 20,527 | $ | 52,100 |
Net realized gain (loss) | 60,045 | (3,453,552) | ||
Change in net unrealized appreciation (depreciation) | 6,594,007 | 8,601,590 | ||
Net increase (decrease) in net assets resulting from operations | 6,674,579 | 5,200,138 | ||
Distributions to shareholders | (23,000) | (48,880) | ||
Distributions to shareholders from tax return of capital | - | (14,820) | ||
Total Distributions | (23,000) | (63,700) | ||
Share transactions | ||||
Proceeds from sales of shares | 15,544,755 | 13,508,181 | ||
Cost of shares redeemed | (3,889,083) | - | ||
Net increase (decrease) in net assets resulting from share transactions | 11,655,672 | 13,508,181 | ||
Total increase (decrease) in net assets | 18,307,251 | 18,644,619 | ||
Net Assets | ||||
Beginning of period | 36,937,548 | 18,292,929 | ||
End of period | $ | 55,244,799 | $ | 36,937,548 |
Other Information | ||||
Shares | ||||
Sold | 750,000 | 750,000 | ||
Redeemed | (200,000) | - | ||
Net increase (decrease) | 550,000 | 750,000 | ||
Fidelity® Cloud Computing ETF |
Six months ended (Unaudited) December 31, 2023 | Years ended June 30, 2023 | 2022 A | ||||
Selected Per-Share Data | ||||||
Net asset value, beginning of period | $ | 19.44 | $ | 15.91 | $ | 25.20 |
Income from Investment Operations | ||||||
Net investment income (loss) B,C | .01 | .04 | .06 | |||
Net realized and unrealized gain (loss) | 3.11 | 3.53 | (9.29) | |||
Total from investment operations | 3.12 | 3.57 | (9.23) | |||
Distributions from net investment income | (.01) | (.03) | (.06) | |||
Distributions from tax return of capital | - | (.01) | - | |||
Total distributions | (.01) | (.04) | (.06) | |||
Net asset value, end of period | $ | 22.55 | $ | 19.44 | $ | 15.91 |
Total Return D,E,F | 16.04% | 22.51% | (36.69)% | |||
Ratios to Average Net Assets C,G,H | ||||||
Expenses before reductions | .39% I | .39% | .39% I | |||
Expenses net of fee waivers, if any | .39% I | .39% | .39% I | |||
Expenses net of all reductions | .39% I | .39% | .39% I | |||
Net investment income (loss) | .09% I | .23% | .41% I | |||
Supplemental Data | ||||||
Net assets, end of period (000 omitted) | $ | 55,245 | $ | 36,938 | $ | 18,293 |
Portfolio turnover rate J,K | 47% I | 38% | 31% L |
Top Holdings (% of Fund's net assets) | ||
Coinbase Global, Inc. | 15.7 | |
Marathon Digital Holdings, Inc. | 14.7 | |
Riot Platforms, Inc. | 7.9 | |
Cleanspark, Inc. | 7.5 | |
Bitfarms Ltd. | 4.8 | |
TeraWulf, Inc. | 3.9 | |
Hut 8 Mining Corp. | 3.8 | |
Bit Digital, Inc. | 3.6 | |
Iris Energy Ltd. | 2.9 | |
Cipher Mining, Inc. | 2.5 | |
67.3 | ||
Market Sectors (% of Fund's net assets) | ||
Information Technology | 57.6 | |
Financials | 41.5 | |
Communication Services | 0.8 | |
Asset Allocation (% of Fund's net assets) |
Futures - 0.1% |
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 - 99.9% | |||
Shares | Value ($) | ||
COMMUNICATION SERVICES - 0.8% | |||
Interactive Media & Services - 0.8% | |||
giftee, Inc. (a) | 46,700 | 601,555 | |
FINANCIALS - 41.5% | |||
Capital Markets - 19.7% | |||
Bakkt Holdings, Inc. Class A (a) | 736,405 | 1,642,183 | |
Coinbase Global, Inc. (a) | 73,066 | 12,707,636 | |
Galaxy Digital Holdings Ltd. (a) | 198,831 | 1,557,655 | |
15,907,474 | |||
Financial Services - 21.8% | |||
Cielo SA | 1,092,200 | 1,054,516 | |
Dlocal Ltd. (a) | 53,595 | 948,096 | |
Edenred SA | 16,325 | 976,329 | |
FleetCor Technologies, Inc. (a) | 4,050 | 1,144,571 | |
Flywire Corp. (a) | 39,769 | 920,652 | |
Global Payments, Inc. | 8,372 | 1,063,244 | |
GMO Payment Gateway, Inc. | 14,400 | 1,000,789 | |
Marqeta, Inc. Class A (a) | 148,819 | 1,038,757 | |
MasterCard, Inc. Class A | 2,353 | 1,003,578 | |
Network International Holdings PLC (a)(b) | 146,747 | 729,211 | |
Nexi SpA (a)(b) | 124,686 | 1,020,061 | |
Nuvei Corp. (b) | 32,661 | 857,678 | |
Payoneer Global, Inc. (a) | 141,027 | 734,751 | |
Shift4 Payments, Inc. (a) | 14,813 | 1,101,198 | |
StoneCo Ltd. Class A (a) | 62,505 | 1,126,965 | |
Visa, Inc. Class A | 3,796 | 988,289 | |
WEX, Inc. (a) | 5,521 | 1,074,111 | |
Worldline SA (a)(b) | 50,598 | 875,845 | |
17,658,641 | |||
TOTAL FINANCIALS | 33,566,115 | ||
INFORMATION TECHNOLOGY - 57.6% | |||
IT Services - 1.3% | |||
Shopify, Inc. Class A (a) | 13,386 | 1,042,769 | |
Software - 53.9% | |||
Bit Digital, Inc. (a) | 691,352 | 2,924,419 | |
Bitfarms Ltd. (a) | 1,332,213 | 3,876,740 | |
Cipher Mining, Inc. (a) | 483,856 | 1,998,325 | |
Cleanspark, Inc. (a) | 549,188 | 6,057,544 | |
HIVE Blockchain Technologies Ltd. (a) | 417,493 | 1,891,243 | |
Hut 8 Mining Corp. (a) | 229,783 | 3,065,305 | |
Iris Energy Ltd. (a) | 323,611 | 2,313,819 | |
Marathon Digital Holdings, Inc. (a) | 505,904 | 11,883,685 | |
Riot Platforms, Inc. (a) | 413,425 | 6,395,685 | |
TeraWulf, Inc. (a) | 1,326,197 | 3,182,873 | |
43,589,638 | |||
Technology Hardware, Storage & Peripherals - 2.4% | |||
Canaan, Inc. ADR (a) | 843,135 | 1,947,642 | |
TOTAL INFORMATION TECHNOLOGY | 46,580,049 | ||
TOTAL COMMON STOCKS (Cost $52,359,760) | 80,747,719 | ||
Money Market Funds - 0.2% | |||
Shares | Value ($) | ||
Fidelity Cash Central Fund 5.40% (c) (Cost $158,952) | 158,920 | 158,952 | |
TOTAL INVESTMENT IN SECURITIES - 100.1% (Cost $52,518,712) | 80,906,671 |
NET OTHER ASSETS (LIABILITIES) - (0.1)% | (64,019) |
NET ASSETS - 100.0% | 80,842,652 |
Futures Contracts | |||||
Number of contracts | Expiration Date | Notional Amount ($) | Value ($) | Unrealized Appreciation/ (Depreciation) ($) | |
Purchased | |||||
Equity Index Contracts | |||||
CME Micro E-mini NASDAQ 100 Index Contracts (United States) | 2 | Mar 2024 | 68,094 | 375 | 375 |
The notional amount of futures purchased as a percentage of Net Assets is 0.1% |
(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 $3,482,795 or 4.3% of net assets. |
(c) | Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request. |
Affiliate | Value, beginning of period ($) | 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% | - | 490,914 | 331,962 | 615 | - | - | 158,952 | 0.0% |
Total | - | 490,914 | 331,962 | 615 | - | - | 158,952 | |
Valuation Inputs at Reporting Date: | ||||
Description | Total ($) | Level 1 ($) | Level 2 ($) | Level 3 ($) |
Investments in Securities: | ||||
Equities: | ||||
Communication Services | 601,555 | 601,555 | - | - |
Financials | 33,566,115 | 33,566,115 | - | - |
Information Technology | 46,580,049 | 46,580,049 | - | - |
Money Market Funds | 158,952 | 158,952 | - | - |
Total Investments in Securities: | 80,906,671 | 80,906,671 | - | - |
Derivative Instruments: Assets | ||||
Futures Contracts | 375 | 375 | - | - |
Total Assets | 375 | 375 | - | - |
Total Derivative Instruments: | 375 | 375 | - | - |
Primary Risk Exposure / Derivative Type | Value | |
Asset ($) | Liability ($) | |
Equity Risk | ||
Futures Contracts (a) | 375 | 0 |
Total Equity Risk | 375 | 0 |
Total Value of Derivatives | 375 | 0 |
Statement of Assets and Liabilities | ||||
December 31, 2023 (Unaudited) | ||||
Assets | ||||
Investment in securities, at value - See accompanying schedule: | ||||
Unaffiliated issuers (cost $52,359,760) | $ | 80,747,719 | ||
Fidelity Central Funds (cost $158,952) | 158,952 | |||
Total Investment in Securities (cost $52,518,712) | $ | 80,906,671 | ||
Segregated cash with brokers for derivative instruments | 3,540 | |||
Foreign currency held at value (cost $9,208) | 9,229 | |||
Distributions receivable from Fidelity Central Funds | 248 | |||
Other receivables | 2,563 | |||
Total assets | 80,922,251 | |||
Liabilities | ||||
Payable to custodian bank | $ | 2,550 | ||
Payable for investments purchased | 55,061 | |||
Accrued management fee | 21,720 | |||
Payable for daily variation margin on futures contracts | 268 | |||
Total Liabilities | 79,599 | |||
Net Assets | $ | 80,842,652 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 55,674,426 | ||
Total accumulated earnings (loss) | 25,168,226 | |||
Net Assets | $ | 80,842,652 | ||
Net Asset Value, offering price and redemption price per share ($80,842,652 ÷ 2,900,000 shares) | $ | 27.88 |
Statement of Operations | ||||
Six months ended December 31, 2023 (Unaudited) | ||||
Investment Income | ||||
Dividends | $ | 42,641 | ||
Income from Fidelity Central Funds | 615 | |||
Income before foreign taxes withheld | $ | 43,256 | ||
Less foreign taxes withheld | (4,834) | |||
Total Income | 38,422 | |||
Expenses | ||||
Management fee | $ | 92,801 | ||
Independent trustees' fees and expenses | 116 | |||
Total expenses before reductions | 92,917 | |||
Expense reductions | (1,123) | |||
Total expenses after reductions | 91,794 | |||
Net Investment income (loss) | (53,372) | |||
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | 56,519 | |||
Redemptions in-kind | 1,273,889 | |||
Foreign currency transactions | 25 | |||
Futures contracts | 1,241 | |||
Total net realized gain (loss) | 1,331,674 | |||
Change in net unrealized appreciation (depreciation) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | 19,487,529 | |||
Assets and liabilities in foreign currencies | 36 | |||
Futures contracts | 375 | |||
Total change in net unrealized appreciation (depreciation) | 19,487,940 | |||
Net gain (loss) | 20,819,614 | |||
Net increase (decrease) in net assets resulting from operations | $ | 20,766,242 |
Statement of Changes in Net Assets | ||||
Six months ended December 31, 2023 (Unaudited) | Year ended June 30, 2023 | |||
Increase (Decrease) in Net Assets | ||||
Operations | ||||
Net investment income (loss) | $ | (53,372) | $ | (43,544) |
Net realized gain (loss) | 1,331,674 | (3,456,071) | ||
Change in net unrealized appreciation (depreciation) | 19,487,940 | 13,810,541 | ||
Net increase (decrease) in net assets resulting from operations | 20,766,242 | 10,310,926 | ||
Distributions to shareholders | (135,150) | - | ||
Share transactions | ||||
Proceeds from sales of shares | 25,861,484 | 14,414,125 | ||
Cost of shares redeemed | (2,111,705) | (1,267,834) | ||
Net increase (decrease) in net assets resulting from share transactions | 23,749,779 | 13,146,291 | ||
Total increase (decrease) in net assets | 44,380,871 | 23,457,217 | ||
Net Assets | ||||
Beginning of period | 36,461,781 | 13,004,564 | ||
End of period | $ | 80,842,652 | $ | 36,461,781 |
Other Information | ||||
Shares | ||||
Sold | 1,100,000 | 950,000 | ||
Redeemed | (100,000) | (100,000) | ||
Net increase (decrease) | 1,000,000 | 850,000 | ||
Fidelity® Crypto Industry and Digital Payments ETF |
Six months ended (Unaudited) December 31, 2023 | Years ended June 30, 2023 | 2022 A | ||||
Selected Per-Share Data | ||||||
Net asset value, beginning of period | $ | 19.19 | $ | 12.39 | $ | 25.76 |
Income from Investment Operations | ||||||
Net investment income (loss) B,C | (.02) | (.03) | (.01) | |||
Net realized and unrealized gain (loss) | 8.76 | 6.83 | (13.36) | |||
Total from investment operations | 8.74 | 6.80 | (13.37) | |||
Distributions from net investment income | (.05) | - | - | |||
Total distributions | (.05) | - | - | |||
Net asset value, end of period | $ | 27.88 | $ | 19.19 | $ | 12.39 |
Total Return D,E,F | 45.57% | 54.94% | (51.92)% | |||
Ratios to Average Net Assets C,G,H | ||||||
Expenses before reductions | .39% I | .39% | .39% I | |||
Expenses net of fee waivers, if any | .39% I | .39% | .39% I | |||
Expenses net of all reductions | .38% I | .39% | .39% I | |||
Net investment income (loss) | (.22)% I | (.19)% | (.29)% I | |||
Supplemental Data | ||||||
Net assets, end of period (000 omitted) | $ | 80,843 | $ | 36,462 | $ | 13,005 |
Portfolio turnover rate J,K | 46% I | 55% | 28% L |
Top Holdings (% of Fund's net assets) | ||
Veeva Systems, Inc. Class A | 4.3 | |
Intuitive Surgical, Inc. | 4.3 | |
DexCom, Inc. | 4.3 | |
ResMed, Inc. | 4.2 | |
Koninklijke Philips Electronics NV | 4.1 | |
Sonova Holding AG | 3.7 | |
Insulet Corp. | 3.6 | |
Cochlear Ltd. | 3.5 | |
Inspire Medical Systems, Inc. | 3.0 | |
Fisher & Paykel Healthcare Corp. | 2.8 | |
37.8 | ||
Market Sectors (% of Fund's net assets) | ||
Health Care | 86.7 | |
Consumer Staples | 7.7 | |
Information Technology | 3.3 | |
Industrials | 2.3 | |
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 - 100.0% | |||
Shares | Value ($) | ||
CONSUMER STAPLES - 7.7% | |||
Consumer Staples Distribution & Retail - 7.7% | |||
Alibaba Health Information Technology Ltd. (a) | 324,000 | 175,930 | |
DocMorris AG (a) | 1,807 | 158,339 | |
JD Health International, Inc. (a)(b) | 46,300 | 231,839 | |
Redcare Pharmacy NV (a) | 1,225 | 178,081 | |
744,189 | |||
HEALTH CARE - 86.7% | |||
Health Care Equipment & Supplies - 49.7% | |||
Axonics Modulation Technologies, Inc. (a) | 3,286 | 204,488 | |
Cochlear Ltd. | 1,643 | 334,839 | |
Demant A/S (a) | 4,862 | 213,260 | |
DexCom, Inc. (a) | 3,353 | 416,074 | |
Fisher & Paykel Healthcare Corp. | 18,419 | 275,223 | |
Inspire Medical Systems, Inc. (a) | 1,453 | 295,584 | |
Insulet Corp. (a) | 1,627 | 353,026 | |
Integra LifeSciences Holdings Corp. (a) | 4,663 | 203,074 | |
Intuitive Surgical, Inc. (a) | 1,245 | 420,013 | |
iRhythm Technologies, Inc. (a) | 2,101 | 224,891 | |
Koninklijke Philips Electronics NV | 16,971 | 395,281 | |
Nevro Corp. (a) | 6,434 | 138,460 | |
Nihon Kohden Corp. | 6,700 | 212,102 | |
Omnicell, Inc. (a) | 4,475 | 168,394 | |
ResMed, Inc. | 2,353 | 404,763 | |
Sonova Holding AG | 1,086 | 354,065 | |
Tandem Diabetes Care, Inc. (a) | 7,050 | 208,539 | |
4,822,076 | |||
Health Care Providers & Services - 12.5% | |||
Accolade, Inc. (a) | 12,588 | 151,182 | |
Apollo Medical Holdings, Inc. (a) | 4,383 | 167,869 | |
Cigna Group | 679 | 203,327 | |
Corvel Corp. (a) | 772 | 190,846 | |
Hims & Hers Health, Inc. (a) | 15,986 | 142,275 | |
Premier, Inc. | 8,518 | 190,462 | |
R1 RCM, Inc. (a) | 15,723 | 166,192 | |
1,212,153 | |||
Health Care Technology - 22.5% | |||
American Well Corp. (a) | 70,095 | 104,442 | |
Definitive Healthcare Corp. (a) | 11,456 | 113,873 | |
Doximity, Inc. (a) | 8,006 | 224,488 | |
Evolent Health, Inc. Class A (a) | 6,838 | 225,859 | |
GoodRx Holdings, Inc. (a) | 16,889 | 113,156 | |
Health Catalyst, Inc. (a) | 13,465 | 124,686 | |
JMDC, Inc. | 3,900 | 117,929 | |
Phreesia, Inc. (a) | 7,800 | 180,570 | |
Pro Medicus Ltd. | 3,230 | 211,208 | |
Teladoc Health, Inc. (a) | 10,341 | 222,849 | |
Veeva Systems, Inc. Class A (a) | 2,196 | 422,773 | |
Veradigm, Inc. (a) | 12,246 | 128,461 | |
2,190,294 | |||
Life Sciences Tools & Services - 2.0% | |||
IQVIA Holdings, Inc. (a) | 834 | 192,971 | |
TOTAL HEALTH CARE | 8,417,494 | ||
INDUSTRIALS - 2.3% | |||
Professional Services - 2.3% | |||
Maximus, Inc. | 2,677 | 224,493 | |
INFORMATION TECHNOLOGY - 3.3% | |||
IT Services - 2.0% | |||
Cognizant Technology Solutions Corp. Class A | 2,530 | 191,091 | |
Software - 1.3% | |||
EngageSmart, Inc. (a) | 5,774 | 132,225 | |
TOTAL INFORMATION TECHNOLOGY | 323,316 | ||
TOTAL COMMON STOCKS (Cost $10,851,260) | 9,709,492 | ||
TOTAL INVESTMENT IN SECURITIES - 100.0% (Cost $10,851,260) | 9,709,492 |
NET OTHER ASSETS (LIABILITIES) - 0.0% | 1,225 |
NET ASSETS - 100.0% | 9,710,717 |
(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 $231,839 or 2.4% of net assets. |
Affiliate | Value, beginning of period ($) | 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% | - | 171,342 | 171,342 | 26 | - | - | - | 0.0% |
Total | - | 171,342 | 171,342 | 26 | - | - | - | |
Valuation Inputs at Reporting Date: | ||||
Description | Total ($) | Level 1 ($) | Level 2 ($) | Level 3 ($) |
Investments in Securities: | ||||
Equities: | ||||
Consumer Staples | 744,189 | 744,189 | - | - |
Health Care | 8,417,494 | 8,417,494 | - | - |
Industrials | 224,493 | 224,493 | - | - |
Information Technology | 323,316 | 323,316 | - | - |
Total Investments in Securities: | 9,709,492 | 9,709,492 | - | - |
Statement of Assets and Liabilities | ||||
December 31, 2023 (Unaudited) | ||||
Assets | ||||
Investment in securities, at value - See accompanying schedule Unaffiliated issuers (cost $10,851,260): | $ | 9,709,492 | ||
Cash | 373 | |||
Foreign currency held at value (cost $879) | 892 | |||
Dividends receivable | 2,958 | |||
Total assets | 9,713,715 | |||
Liabilities | ||||
Accrued management fee | $ | 2,998 | ||
Total Liabilities | 2,998 | |||
Net Assets | $ | 9,710,717 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 12,747,754 | ||
Total accumulated earnings (loss) | (3,037,037) | |||
Net Assets | $ | 9,710,717 | ||
Net Asset Value, offering price and redemption price per share ($9,710,717 ÷ 500,000 shares) | $ | 19.42 |
Statement of Operations | ||||
Six months ended December 31, 2023 (Unaudited) | ||||
Investment Income | ||||
Dividends | $ | 15,078 | ||
Income from Fidelity Central Funds | 26 | |||
Total Income | 15,104 | |||
Expenses | ||||
Management fee | $ | 17,378 | ||
Independent trustees' fees and expenses | 26 | |||
Total expenses before reductions | 17,404 | |||
Expense reductions | (14) | |||
Total expenses after reductions | 17,390 | |||
Net Investment income (loss) | (2,286) | |||
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | (413,825) | |||
Foreign currency transactions | 32 | |||
Total net realized gain (loss) | (413,793) | |||
Change in net unrealized appreciation (depreciation) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | 298,457 | |||
Assets and liabilities in foreign currencies | 187 | |||
Total change in net unrealized appreciation (depreciation) | 298,644 | |||
Net gain (loss) | (115,149) | |||
Net increase (decrease) in net assets resulting from operations | $ | (117,435) |
Statement of Changes in Net Assets | ||||
Six months ended December 31, 2023 (Unaudited) | Year ended June 30, 2023 | |||
Increase (Decrease) in Net Assets | ||||
Operations | ||||
Net investment income (loss) | $ | (2,286) | $ | 16,864 |
Net realized gain (loss) | (413,793) | (1,145,613) | ||
Change in net unrealized appreciation (depreciation) | 298,644 | 1,683,713 | ||
Net increase (decrease) in net assets resulting from operations | (117,435) | 554,964 | ||
Distributions to shareholders | - | (15,500) | ||
Share transactions | ||||
Total increase (decrease) in net assets | (117,435) | 539,464 | ||
Net Assets | ||||
Beginning of period | 9,828,152 | 9,288,688 | ||
End of period | $ | 9,710,717 | $ | 9,828,152 |
Fidelity® Digital Health ETF |
Six months ended (Unaudited) December 31, 2023 | Years ended June 30, 2023 | 2022 A | ||||
Selected Per-Share Data | ||||||
Net asset value, beginning of period | $ | 19.66 | $ | 18.58 | $ | 25.10 |
Income from Investment Operations | ||||||
Net investment income (loss) B,C | - D | .03 E | (.01) | |||
Net realized and unrealized gain (loss) | (.24) | 1.08 | (6.51) | |||
Total from investment operations | (.24) | 1.11 | (6.52) | |||
Distributions from net investment income | - | (.03) | - | |||
Total distributions | - | (.03) | - | |||
Net asset value, end of period | $ | 19.42 | $ | 19.66 | $ | 18.58 |
Total Return F,G,H | (1.19)% | 5.98% | (25.99)% | |||
Ratios to Average Net Assets C,I,J | ||||||
Expenses before reductions | .39% K | .39% | .39% K | |||
Expenses net of fee waivers, if any | .39% K | .39% | .39% K | |||
Expenses net of all reductions | .39% K | .39% | .39% K | |||
Net investment income (loss) | (.05)% K | .18% E | (.05)% | |||
Supplemental Data | ||||||
Net assets, end of period (000 omitted) | $ | 9,711 | $ | 9,828 | $ | 9,289 |
Portfolio turnover rate L | 41% K | 36% | 48% M,N |
Top Holdings (% of Fund's net assets) | ||
Analog Devices, Inc. | 4.3 | |
Tesla, Inc. | 4.2 | |
NXP Semiconductors NV | 3.7 | |
Infineon Technologies AG | 3.5 | |
Rivian Automotive, Inc. | 3.4 | |
Aptiv PLC | 3.4 | |
BYD Co. Ltd. (H Shares) | 3.3 | |
ON Semiconductor Corp. | 3.2 | |
Albemarle Corp. | 3.2 | |
Li Auto, Inc. Class A | 3.1 | |
35.3 | ||
Market Sectors (% of Fund's net assets) | ||
Consumer Discretionary | 40.1 | |
Information Technology | 33.7 | |
Industrials | 15.0 | |
Materials | 11.2 | |
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 - 100.0% | |||
Shares | Value ($) | ||
CONSUMER DISCRETIONARY - 40.1% | |||
Automobile Components - 17.3% | |||
Adient PLC (a) | 23,234 | 844,788 | |
Aptiv PLC (a) | 17,887 | 1,604,822 | |
Forvia (a) | 39,012 | 879,992 | |
Hesai Group ADR | 37,017 | 329,821 | |
Lear Corp. | 7,696 | 1,086,752 | |
Luminar Technologies, Inc. (a) | 179,678 | 605,515 | |
Mobileye Global, Inc. (a) | 14,791 | 640,746 | |
Valeo SA | 51,539 | 792,217 | |
Visteon Corp. (a) | 6,526 | 815,097 | |
Vitesco Technologies Group AG (a) | 6,436 | 555,965 | |
8,155,715 | |||
Automobiles - 22.0% | |||
BYD Co. Ltd. (H Shares) | 56,500 | 1,551,325 | |
Li Auto, Inc. Class A (a) | 76,900 | 1,448,667 | |
Lucid Group, Inc. Class A (a) | 190,510 | 802,047 | |
NIO, Inc. sponsored ADR (a) | 154,269 | 1,399,220 | |
Rivian Automotive, Inc. (a) | 69,111 | 1,621,344 | |
Tesla, Inc. (a) | 8,043 | 1,998,525 | |
XPeng, Inc. Class A (a) | 127,500 | 925,812 | |
Yadea Group Holdings Ltd. (b) | 358,000 | 629,023 | |
10,375,963 | |||
Specialty Retail - 0.8% | |||
EVgo, Inc. Class A (a) | 111,119 | 397,806 | |
TOTAL CONSUMER DISCRETIONARY | 18,929,484 | ||
INDUSTRIALS - 15.0% | |||
Electrical Equipment - 10.0% | |||
Bloom Energy Corp. Class A (a) | 51,865 | 767,602 | |
ChargePoint Holdings, Inc. Class A (a) | 228,409 | 534,477 | |
Doosan Fuel Cell Co. Ltd. (a) | 25,143 | 452,922 | |
LG Energy Solution (a) | 3,544 | 1,176,380 | |
Plug Power, Inc. (a) | 166,440 | 748,980 | |
Sensata Technologies, Inc. PLC | 27,158 | 1,020,326 | |
4,700,687 | |||
Ground Transportation - 2.2% | |||
Lyft, Inc. (a) | 70,007 | 1,049,405 | |
Machinery - 2.8% | |||
Blue Bird Corp. (a) | 18,780 | 506,309 | |
Microvast Holdings, Inc. (a) | 282,178 | 395,049 | |
Nikola Corp. (a) | 470,554 | 411,641 | |
1,312,999 | |||
TOTAL INDUSTRIALS | 7,063,091 | ||
INFORMATION TECHNOLOGY - 33.7% | |||
Electronic Equipment, Instruments & Components - 2.9% | |||
Samsung SDI Co. Ltd. | 3,785 | 1,387,157 | |
Semiconductors & Semiconductor Equipment - 30.8% | |||
Allegro MicroSystems LLC (a) | 19,011 | 575,463 | |
Ambarella, Inc. (a) | 9,175 | 562,336 | |
Analog Devices, Inc. | 10,215 | 2,028,290 | |
Diodes, Inc. (a) | 9,052 | 728,867 | |
indie Semiconductor, Inc. (a) | 53,994 | 437,891 | |
Infineon Technologies AG | 39,594 | 1,653,278 | |
Lattice Semiconductor Corp. (a) | 14,220 | 981,038 | |
Lx Semicon Co. Ltd. | 5,596 | 377,151 | |
NXP Semiconductors NV | 7,621 | 1,750,391 | |
ON Semiconductor Corp. (a) | 18,237 | 1,523,337 | |
SiTime Corp. (a) | 4,641 | 566,573 | |
Skyworks Solutions, Inc. | 10,665 | 1,198,959 | |
STMicroelectronics NV (Italy) | 27,535 | 1,375,132 | |
Synaptics, Inc. (a) | 6,509 | 742,547 | |
14,501,253 | |||
TOTAL INFORMATION TECHNOLOGY | 15,888,410 | ||
MATERIALS - 11.2% | |||
Chemicals - 9.0% | |||
Albemarle Corp. | 10,349 | 1,495,224 | |
Ganfeng Lithium Group Co. Ltd. (H Shares) (b) | 176,080 | 665,214 | |
Livent Corp. (a) | 50,897 | 915,128 | |
SK IE Technology Co. Ltd. (a)(b) | 10,750 | 658,572 | |
Tianqi Lithium Corp. (H Shares) | 90,200 | 498,445 | |
4,232,583 | |||
Metals & Mining - 2.2% | |||
Allkem Ltd. (a) | 136,805 | 1,046,441 | |
TOTAL MATERIALS | 5,279,024 | ||
TOTAL COMMON STOCKS (Cost $54,600,793) | 47,160,009 | ||
TOTAL INVESTMENT IN SECURITIES - 100.0% (Cost $54,600,793) | 47,160,009 |
NET OTHER ASSETS (LIABILITIES) - 0.0% | 11,644 |
NET ASSETS - 100.0% | 47,171,653 |
(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 $1,952,809 or 4.1% of net assets. |
Affiliate | Value, beginning of period ($) | 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% | - | 426,973 | 426,973 | 71 | - | - | - | 0.0% |
Total | - | 426,973 | 426,973 | 71 | - | - | - | |
Valuation Inputs at Reporting Date: | ||||
Description | Total ($) | Level 1 ($) | Level 2 ($) | Level 3 ($) |
Investments in Securities: | ||||
Equities: | ||||
Consumer Discretionary | 18,929,484 | 18,929,484 | - | - |
Industrials | 7,063,091 | 7,063,091 | - | - |
Information Technology | 15,888,410 | 15,888,410 | - | - |
Materials | 5,279,024 | 5,279,024 | - | - |
Total Investments in Securities: | 47,160,009 | 47,160,009 | - | - |
Statement of Assets and Liabilities | ||||
December 31, 2023 (Unaudited) | ||||
Assets | ||||
Investment in securities, at value - See accompanying schedule Unaffiliated issuers (cost $54,600,793): | $ | 47,160,009 | ||
Foreign currency held at value (cost $7,426) | 7,457 | |||
Dividends receivable | 33,076 | |||
Distributions receivable from Fidelity Central Funds | 44 | |||
Other receivables | 1,655 | |||
Total assets | 47,202,241 | |||
Liabilities | ||||
Payable to custodian bank | $ | 15,419 | ||
Accrued management fee | 15,169 | |||
Total Liabilities | 30,588 | |||
Net Assets | $ | 47,171,653 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 69,932,217 | ||
Total accumulated earnings (loss) | (22,760,564) | |||
Net Assets | $ | 47,171,653 | ||
Net Asset Value, offering price and redemption price per share ($47,171,653 ÷ 2,750,000 shares) | $ | 17.15 |
Statement of Operations | ||||
Six months ended December 31, 2023 (Unaudited) | ||||
Investment Income | ||||
Dividends | $ | 177,754 | ||
Income from Fidelity Central Funds | 71 | |||
Income before foreign taxes withheld | $ | 177,825 | ||
Less foreign taxes withheld | (12,188) | |||
Total Income | 165,637 | |||
Expenses | ||||
Management fee | $ | 97,666 | ||
Independent trustees' fees and expenses | 147 | |||
Total expenses before reductions | 97,813 | |||
Expense reductions | (242) | |||
Total expenses after reductions | 97,571 | |||
Net Investment income (loss) | 68,066 | |||
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) on: | ||||
Investment Securities: | ||||
Redemptions in-kind | 340,632 | |||
Unaffiliated issuers | (2,705,686) | |||
Foreign currency transactions | (2,144) | |||
Total net realized gain (loss) | (2,367,198) | |||
Change in net unrealized appreciation (depreciation) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | (3,299,482) | |||
Assets and liabilities in foreign currencies | 177 | |||
Total change in net unrealized appreciation (depreciation) | (3,299,305) | |||
Net gain (loss) | (5,666,503) | |||
Net increase (decrease) in net assets resulting from operations | $ | (5,598,437) |
Statement of Changes in Net Assets | ||||
Six months ended December 31, 2023 (Unaudited) | Year ended June 30, 2023 | |||
Increase (Decrease) in Net Assets | ||||
Operations | ||||
Net investment income (loss) | $ | 68,066 | $ | 117,725 |
Net realized gain (loss) | (2,367,198) | (8,677,880) | ||
Change in net unrealized appreciation (depreciation) | (3,299,305) | 12,015,741 | ||
Net increase (decrease) in net assets resulting from operations | (5,598,437) | 3,455,586 | ||
Distributions to shareholders | (67,950) | (119,850) | ||
Share transactions | ||||
Proceeds from sales of shares | 1,006,740 | 12,741,845 | ||
Cost of shares redeemed | (2,564,084) | - | ||
Net increase (decrease) in net assets resulting from share transactions | (1,557,344) | 12,741,845 | ||
Total increase (decrease) in net assets | (7,223,731) | 16,077,581 | ||
Net Assets | ||||
Beginning of period | 54,395,384 | 38,317,803 | ||
End of period | $ | 47,171,653 | $ | 54,395,384 |
Other Information | ||||
Shares | ||||
Sold | 50,000 | 700,000 | ||
Redeemed | (150,000) | - | ||
Net increase (decrease) | (100,000) | 700,000 | ||
Fidelity® Electric Vehicles and Future Transportation ETF |
Six months ended (Unaudited) December 31, 2023 | Years ended June 30, 2023 | 2022 A | ||||
Selected Per-Share Data | ||||||
Net asset value, beginning of period | $ | 19.09 | $ | 17.82 | $ | 25.20 |
Income from Investment Operations | ||||||
Net investment income (loss) B,C | .02 | .05 | .04 | |||
Net realized and unrealized gain (loss) | (1.94) | 1.27 | (7.39) | |||
Total from investment operations | (1.92) | 1.32 | (7.35) | |||
Distributions from net investment income | (.02) | (.05) | (.03) | |||
Total distributions | (.02) | (.05) | (.03) | |||
Net asset value, end of period | $ | 17.15 | $ | 19.09 | $ | 17.82 |
Total Return D,E,F | (10.00)% | 7.36% | (29.15)% | |||
Ratios to Average Net Assets C,G,H | ||||||
Expenses before reductions | .39% I | .39% | .39% I | |||
Expenses net of fee waivers, if any | .39% I | .39% | .39% I | |||
Expenses net of all reductions | .39% I | .39% | .39% I | |||
Net investment income (loss) | .27% I | .26% | .25% I | |||
Supplemental Data | ||||||
Net assets, end of period (000 omitted) | $ | 47,172 | $ | 54,395 | $ | 38,318 |
Portfolio turnover rate J,K | 54% I | 62% | 31% L |
Top Holdings (% of Fund's net assets) | ||
Samsung Electronics Co. Ltd. | 4.8 | |
Meta Platforms, Inc. Class A | 4.6 | |
NVIDIA Corp. | 4.5 | |
Alphabet, Inc. Class A | 4.5 | |
Apple, Inc. | 4.3 | |
Intel Corp. | 4.3 | |
Adobe, Inc. | 4.3 | |
Microsoft Corp. | 4.2 | |
Qualcomm, Inc. | 3.9 | |
Tencent Holdings Ltd. | 3.8 | |
43.2 | ||
Market Sectors (% of Fund's net assets) | ||
Information Technology | 55.6 | |
Communication Services | 38.2 | |
Real Estate | 5.9 | |
Asset Allocation (% of Fund's net assets) |
Futures - 0.3% |
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 - 99.7% | |||
Shares | Value ($) | ||
COMMUNICATION SERVICES - 38.2% | |||
Entertainment - 17.8% | |||
Electronic Arts, Inc. | 3,732 | 510,575 | |
Embracer Group AB (a) | 90,426 | 245,450 | |
Kakao Games Corp. (a) | 7,300 | 146,521 | |
KRAFTON, Inc. (a) | 1,692 | 254,345 | |
NCSOFT Corp. | 1,155 | 215,683 | |
NetEase, Inc. | 24,500 | 441,145 | |
Netmarble Corp. (a)(b) | 3,440 | 155,186 | |
Nexon Co. Ltd. | 15,700 | 286,148 | |
Nintendo Co. Ltd. | 12,900 | 673,366 | |
Playtika Holding Corp. (a) | 15,469 | 134,890 | |
Roblox Corp. (a) | 10,776 | 492,679 | |
Take-Two Interactive Software, Inc. (a) | 2,937 | 472,710 | |
Ubisoft Entertainment SA (a) | 7,882 | 201,215 | |
4,229,913 | |||
Interactive Media & Services - 20.4% | |||
Alphabet, Inc. Class A (a) | 7,681 | 1,072,959 | |
Bumble, Inc. (a) | 12,770 | 188,230 | |
Meta Platforms, Inc. Class A (a) | 3,112 | 1,101,524 | |
NAVER Corp. | 2,857 | 496,908 | |
Pinterest, Inc. Class A (a) | 12,625 | 467,630 | |
Snap, Inc. Class A (a) | 27,701 | 468,978 | |
Tencent Holdings Ltd. | 24,200 | 909,915 | |
Weibo Corp. sponsored ADR | 14,432 | 158,030 | |
4,864,174 | |||
TOTAL COMMUNICATION SERVICES | 9,094,087 | ||
INFORMATION TECHNOLOGY - 55.6% | |||
Electronic Equipment, Instruments & Components - 1.2% | |||
Sunny Optical Technology Group Co. Ltd. | 31,700 | 287,626 | |
IT Services - 4.3% | |||
Endava PLC ADR (a) | 3,376 | 262,822 | |
GDS Holdings Ltd. Class A (a) | 130,500 | 151,415 | |
Globant SA (a) | 1,518 | 361,254 | |
Thoughtworks Holding, Inc. (a) | 28,972 | 139,355 | |
Vnet Group, Inc. ADR (a) | 36,598 | 105,036 | |
1,019,882 | |||
Semiconductors & Semiconductor Equipment - 17.7% | |||
Ambarella, Inc. (a) | 3,513 | 215,312 | |
ams-OSRAM AG (a) | 100,474 | 252,364 | |
Cirrus Logic, Inc. (a) | 3,365 | 279,934 | |
Himax Technologies, Inc. sponsored ADR | 24,796 | 150,512 | |
Intel Corp. | 20,339 | 1,022,035 | |
NVIDIA Corp. | 2,177 | 1,078,094 | |
Qualcomm, Inc. | 6,455 | 933,587 | |
Synaptics, Inc. (a) | 2,492 | 284,287 | |
4,216,125 | |||
Software - 21.7% | |||
Adobe, Inc. (a) | 1,699 | 1,013,623 | |
ANSYS, Inc. (a) | 1,594 | 578,431 | |
Autodesk, Inc. (a) | 2,620 | 637,918 | |
Bentley Systems, Inc. Class B | 6,979 | 364,164 | |
Dassault Systemes SA | 10,696 | 522,651 | |
Matterport, Inc. (a) | 52,958 | 142,457 | |
Microsoft Corp. | 2,687 | 1,010,419 | |
PTC, Inc. (a) | 2,681 | 469,068 | |
Unity Software, Inc. (a) | 10,365 | 423,825 | |
5,162,556 | |||
Technology Hardware, Storage & Peripherals - 10.7% | |||
Apple, Inc. | 5,359 | 1,031,768 | |
Samsung Electronics Co. Ltd. | 18,636 | 1,135,899 | |
Super Micro Computer, Inc. (a) | 1,348 | 383,182 | |
2,550,849 | |||
TOTAL INFORMATION TECHNOLOGY | 13,237,038 | ||
REAL ESTATE - 5.9% | |||
Equity Real Estate Investment Trusts (REITs) - 5.1% | |||
Digital Realty Trust, Inc. | 3,981 | 535,763 | |
Equinix, Inc. | 827 | 666,058 | |
1,201,821 | |||
Real Estate Management & Development - 0.8% | |||
eXp World Holdings, Inc. | 12,810 | 198,811 | |
TOTAL REAL ESTATE | 1,400,632 | ||
TOTAL COMMON STOCKS (Cost $21,066,076) | 23,731,757 | ||
Money Market Funds - 0.2% | |||
Shares | Value ($) | ||
Fidelity Cash Central Fund 5.40% (c) (Cost $53,147) | 53,136 | 53,147 | |
TOTAL INVESTMENT IN SECURITIES - 99.9% (Cost $21,119,223) | 23,784,904 |
NET OTHER ASSETS (LIABILITIES) - 0.1% | 20,659 |
NET ASSETS - 100.0% | 23,805,563 |
Futures Contracts | |||||
Number of contracts | Expiration Date | Notional Amount ($) | Value ($) | Unrealized Appreciation/ (Depreciation) ($) | |
Purchased | |||||
Equity Index Contracts | |||||
CME Micro E-mini NASDAQ 100 Index Contracts (United States) | 2 | Mar 2024 | 68,094 | 2,575 | 2,575 |
The notional amount of futures purchased as a percentage of Net Assets is 0.3% |
(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 $155,186 or 0.7% of net assets. |
(c) | Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request. |
Affiliate | Value, beginning of period ($) | 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% | 278,050 | 933,000 | 1,157,903 | 1,064 | - | - | 53,147 | 0.0% |
Total | 278,050 | 933,000 | 1,157,903 | 1,064 | - | - | 53,147 | |
Valuation Inputs at Reporting Date: | ||||
Description | Total ($) | Level 1 ($) | Level 2 ($) | Level 3 ($) |
Investments in Securities: | ||||
Equities: | ||||
Communication Services | 9,094,087 | 9,094,087 | - | - |
Information Technology | 13,237,038 | 13,237,038 | - | - |
Real Estate | 1,400,632 | 1,400,632 | - | - |
Money Market Funds | 53,147 | 53,147 | - | - |
Total Investments in Securities: | 23,784,904 | 23,784,904 | - | - |
Derivative Instruments: Assets | ||||
Futures Contracts | 2,575 | 2,575 | - | - |
Total Assets | 2,575 | 2,575 | - | - |
Total Derivative Instruments: | 2,575 | 2,575 | - | - |
Primary Risk Exposure / Derivative Type | Value | |
Asset ($) | Liability ($) | |
Equity Risk | ||
Futures Contracts (a) | 2,575 | 0 |
Total Equity Risk | 2,575 | 0 |
Total Value of Derivatives | 2,575 | 0 |
Statement of Assets and Liabilities | ||||
December 31, 2023 (Unaudited) | ||||
Assets | ||||
Investment in securities, at value - See accompanying schedule: | ||||
Unaffiliated issuers (cost $21,066,076) | $ | 23,731,757 | ||
Fidelity Central Funds (cost $53,147) | 53,147 | |||
Total Investment in Securities (cost $21,119,223) | $ | 23,784,904 | ||
Segregated cash with brokers for derivative instruments | 5,040 | |||
Cash | 1,369 | |||
Foreign currency held at value (cost $6,135) | 6,234 | |||
Dividends receivable | 15,545 | |||
Distributions receivable from Fidelity Central Funds | 285 | |||
Total assets | 23,813,377 | |||
Liabilities | ||||
Accrued management fee | $ | 7,546 | ||
Payable for daily variation margin on futures contracts | 268 | |||
Total Liabilities | 7,814 | |||
Net Assets | $ | 23,805,563 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 21,917,038 | ||
Total accumulated earnings (loss) | 1,888,525 | |||
Net Assets | $ | 23,805,563 | ||
Net Asset Value, offering price and redemption price per share ($23,805,563 ÷ 850,000 shares) | $ | 28.01 |
Statement of Operations | ||||
Six months ended December 31, 2023 (Unaudited) | ||||
Investment Income | ||||
Dividends | $ | 52,340 | ||
Income from Fidelity Central Funds | 1,064 | |||
Income before foreign taxes withheld | $ | 53,404 | ||
Less foreign taxes withheld | (3,889) | |||
Total Income | 49,515 | |||
Expenses | ||||
Management fee | $ | 36,700 | ||
Independent trustees' fees and expenses | 49 | |||
Total expenses before reductions | 36,749 | |||
Expense reductions | (58) | |||
Total expenses after reductions | 36,691 | |||
Net Investment income (loss) | 12,824 | |||
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | (894,738) | |||
Redemptions in-kind | 729,240 | |||
Foreign currency transactions | (5,943) | |||
Futures contracts | 5,268 | |||
Total net realized gain (loss) | (166,173) | |||
Change in net unrealized appreciation (depreciation) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | 1,951,002 | |||
Assets and liabilities in foreign currencies | 242 | |||
Futures contracts | 1,264 | |||
Total change in net unrealized appreciation (depreciation) | 1,952,508 | |||
Net gain (loss) | 1,786,335 | |||
Net increase (decrease) in net assets resulting from operations | $ | 1,799,159 |
Statement of Changes in Net Assets | ||||
Six months ended December 31, 2023 (Unaudited) | Year ended June 30, 2023 | |||
Increase (Decrease) in Net Assets | ||||
Operations | ||||
Net investment income (loss) | $ | 12,824 | $ | 64,134 |
Net realized gain (loss) | (166,173) | 558,090 | ||
Change in net unrealized appreciation (depreciation) | 1,952,508 | 2,003,697 | ||
Net increase (decrease) in net assets resulting from operations | 1,799,159 | 2,625,921 | ||
Distributions to shareholders | (28,900) | (70,500) | ||
Share transactions | ||||
Proceeds from sales of shares | 9,052,886 | 6,111,398 | ||
Cost of shares redeemed | (3,706,329) | (2,636,047) | ||
Net increase (decrease) in net assets resulting from share transactions | 5,346,557 | 3,475,351 | ||
Total increase (decrease) in net assets | 7,116,816 | 6,030,772 | ||
Net Assets | ||||
Beginning of period | 16,688,747 | 10,657,975 | ||
End of period | $ | 23,805,563 | $ | 16,688,747 |
Other Information | ||||
Shares | ||||
Sold | 350,000 | 250,000 | ||
Redeemed | (150,000) | (100,000) | ||
Net increase (decrease) | 200,000 | 150,000 | ||
Fidelity® Metaverse ETF |
Six months ended (Unaudited) December 31, 2023 | Years ended June 30, 2023 | 2022 A | ||||
Selected Per-Share Data | ||||||
Net asset value, beginning of period | $ | 25.67 | $ | 21.32 | $ | 25.28 |
Income from Investment Operations | ||||||
Net investment income (loss) B,C | .02 | .11 D | - E | |||
Net realized and unrealized gain (loss) | 2.35 | 4.36 | (3.96) | |||
Total from investment operations | 2.37 | 4.47 | (3.96) | |||
Distributions from net investment income | (.03) | (.12) | - | |||
Total distributions | (.03) | (.12) | - | |||
Net asset value, end of period | $ | 28.01 | $ | 25.67 | $ | 21.32 |
Total Return F,G,H | 9.24% | 21.06% | (15.67)% | |||
Ratios to Average Net Assets B,I,J | ||||||
Expenses before reductions | .39% K | .39% | .39% K | |||
Expenses net of fee waivers, if any | .39% K | .39% | .39% K | |||
Expenses net of all reductions | .39% K | .39% | .39% K | |||
Net investment income (loss) | .14% K | .49% D | .01% K | |||
Supplemental Data | ||||||
Net assets, end of period (000 omitted) | $ | 23,806 | $ | 16,689 | $ | 10,658 |
Portfolio turnover rate L,M | 78% K | 47% | 8% N |
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 Clean Energy ETF | $39,285,346 | $2,168,324 | $(10,425,773) | $(8,257,449) |
Fidelity Cloud Computing ETF | 49,079,586 | 8,281,701 | (2,153,459) | 6,128,242 |
Fidelity Crypto Industry and Digital Payments ETF | 52,720,136 | 29,833,361 | (1,646,451) | 28,186,910 |
Fidelity Digital Health ETF | 10,876,199 | 1,201,736 | (2,368,443) | (1,166,707) |
Fidelity Electric Vehicles and Future Transportation ETF | 54,871,920 | 4,198,503 | (11,910,414) | (7,711,911) |
Fidelity Metaverse ETF | 21,320,935 | 3,519,939 | (1,053,395) | 2,466,544 |
Short-term | Long-term | Total capital loss carryforward | |
Fidelity Clean Energy ETF | $ (1,596,374) | $ (1,141,028) | $(2,737,402) |
Fidelity Cloud Computing ETF | (1,589,073) | (2,876,830) | (4,465,903) |
Fidelity Crypto Industry and Digital Payments ETF | (3,656,444) | (581,544) | (4,237,988) |
Fidelity Digital Health ETF | (435,575) | (1,012,122) | (1,447,697) |
Fidelity Electric Vehicles and Future Transportation ETF | (8,644,807) | (4,130,988) | (12,775,795) |
Fidelity Metaverse ETF | (430,373) | (40,507) | (470,880) |
Ordinary losses ($) | |
Fidelity Cloud Computing ETF | (5,481) |
Fidelity Electric Vehicles and Future Transportation ETF | (13,743) |
Equity Risk | Equity risk relates to the fluctuations in the value of financial instruments as a result of changes in market prices (other than those arising from interest rate risk or foreign exchange risk), whether caused by factors specific to an individual investment, its issuer, or all factors affecting all instruments traded in a market or market segment. |
Purchases ($) | Sales ($) | |
Fidelity Clean Energy ETF | 6,430,824 | 6,452,142 |
Fidelity Cloud Computing ETF | 10,539,715 | 9,773,120 |
Fidelity Crypto Industry and Digital Payments ETF | 10,666,151 | 10,480,294 |
Fidelity Digital Health ETF | 2,047,731 | 1,876,029 |
Fidelity Electric Vehicles and Future Transportation ETF | 13,554,656 | 13,555,022 |
Fidelity Metaverse ETF | 9,275,663 | 7,102,285 |
In-Kind Subscriptions ($) | In-Kind Redemptions ($) | |
Fidelity Clean Energy ETF | - | 924,433 |
Fidelity Cloud Computing ETF | 15,223,123 | 3,895,843 |
Fidelity Crypto Industry and Digital Payments ETF | 25,351,656 | 2,066,261 |
Fidelity Electric Vehicles and Future Transportation ETF | 804,432 | 2,299,555 |
Fidelity Metaverse ETF | 6,821,919 | 3,656,470 |
Fee Rate | |
Fidelity Clean Energy ETF | .39% |
Fidelity Cloud Computing ETF | .39% |
Fidelity Crypto Industry and Digital Payments ETF | .39% |
Fidelity Digital Health ETF | .39% |
Fidelity Electric Vehicles and Future Transportation ETF | .39% |
Fidelity Metaverse ETF | .39% |
Custodian credits | |
Fidelity Clean Energy ETF | $90 |
Fidelity Cloud Computing ETF | 196 |
Fidelity Crypto Industry and Digital Payments ETF | 1,123 |
Fidelity Digital Health ETF | 14 |
Fidelity Electric Vehicles and Future Transportation ETF | 242 |
Fidelity Metaverse ETF | 58 |
The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (July 1, 2023 to December 31, 2023). |
Annualized Expense Ratio- A | Beginning Account Value July 1, 2023 | Ending Account Value December 31, 2023 | Expenses Paid During Period- C July 1, 2023 to December 31, 2023 | |||||||
Fidelity® Clean Energy ETF | .39% | |||||||||
Actual | $ 1,000 | $ 833.90 | $ 1.80 | |||||||
Hypothetical-B | $ 1,000 | $ 1,023.18 | $ 1.98 | |||||||
Fidelity® Cloud Computing ETF | .39% | |||||||||
Actual | $ 1,000 | $ 1,160.40 | $ 2.12 | |||||||
Hypothetical-B | $ 1,000 | $ 1,023.18 | $ 1.98 | |||||||
Fidelity® Crypto Industry and Digital Payments ETF | .39% | |||||||||
Actual | $ 1,000 | $ 1,455.70 | $ 2.41 | |||||||
Hypothetical-B | $ 1,000 | $ 1,023.18 | $ 1.98 | |||||||
Fidelity® Digital Health ETF | .39% | |||||||||
Actual | $ 1,000 | $ 988.10 | $ 1.95 | |||||||
Hypothetical-B | $ 1,000 | $ 1,023.18 | $ 1.98 | |||||||
Fidelity® Electric Vehicles and Future Transportation ETF | .39% | |||||||||
Actual | $ 1,000 | $ 900.00 | $ 1.86 | |||||||
Hypothetical-B | $ 1,000 | $ 1,023.18 | $ 1.98 | |||||||
Fidelity® Metaverse ETF | .39% | |||||||||
Actual | $ 1,000 | $ 1,092.40 | $ 2.05 | |||||||
Hypothetical-B | $ 1,000 | $ 1,023.18 | $ 1.98 | |||||||
Item 2.
Code of Ethics
Not applicable.
Item 3.
Audit Committee Financial Expert
Not applicable.
Item 4.
Principal Accountant Fees and Services
Not applicable.
Item 5.
Audit Committee of Listed Registrants
Not applicable.
Item 6.
Investments
(a)
Not applicable.
(b)
Not applicable
Item 7.
Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies
Not applicable.
Item 8.
Portfolio Managers of Closed-End Management Investment Companies
Not applicable.
Item 9.
Purchase of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers
Not applicable.
Item 10.
Submission of Matters to a Vote of Security Holders
There were no material changes to the procedures by which shareholders may recommend nominees to the Fidelity Covington Trust’s Board of Trustees.
Item 11.
Controls and Procedures
(a)(i) The President and Treasurer and the Chief Financial Officer have concluded that the Fidelity Covington Trust’s (the “Trust”) disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act) provide reasonable
assurances that material information relating to the Trust is made known to them by the appropriate persons, based on their evaluation of these controls and procedures as of a date within 90 days of the filing date of this report.
(a)(ii) There was no change in the Trust’s internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act) that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the Trust’s internal control over financial reporting.
Item 12.
Disclosure of Securities Lending Activities for Closed-End Management
Investment Companies
Not applicable.
Item 18.
Recovery of Erroneously Awarded Compensation
(a) Not applicable.
(b) Not applicable.
Item 19.
Exhibits
(a) | (1) | Not applicable. |
(a) | (2) | |
(a) | (3) | Not applicable. |
(b) |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Fidelity Covington Trust
By: | /s/Stacie M. Smith |
Stacie M. Smith | |
President and Treasurer | |
Date: | February 22, 2024 |
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
By: | /s/Stacie M. Smith |
Stacie M. Smith | |
President and Treasurer | |
Date: | February 22, 2024 |
By: | /s/John J. Burke III |
John J. Burke III | |
Chief Financial Officer | |
Date: | February 22, 2024 |